Revenue (Tables)

9 Months Ended

Sep. 30, 2022

Revenue from Contract with Customer [Abstract]

Revenue by reporting unit for the three and nine months ended September 30, 2022 and 2021 was as follows:


	Three Months Ended September 30,				Nine Months Ended September 30,
	2022		2021		2022		2021
Pumps	$	102.6	$	90.0	$	304.5	$	261.4
Water	82.1		64.8		228.1		189.0
Energy	51.3		40.5		144.3		125.9
Agriculture	42.1		26.9		112.5		78.0
Valves	29.5		29.1		90.1		91.6
Intersegment elimination	(0.2)		—		(0.7)		(0.7)
Fluid & Metering Technologies	307.4		251.3		878.8		745.2
Scientific Fluidics & Optics(1)	172.4		131.2		462.8		376.0
Sealing Solutions	64.9		67.7		203.1		202.4
Performance Pneumatic Technologies	64.1		62.2		191.2		125.4
Material Processing Technologies	34.6		32.7		103.1		99.1
Micropump	9.0		8.5		26.0		24.8
Intersegment elimination	(0.7)		(0.7)		(1.9)		(2.3)
Health & Science Technologies	344.3		301.6		984.3		825.4
Fire & Safety	100.6		92.3		296.1		287.1
Dispensing	42.8		41.7		128.2		117.5
BAND-IT	29.0		25.1		84.0		74.8
Intersegment elimination	(0.1)		—		(0.2)		—
Fire & Safety/Diversified Products	172.3		159.1		508.1		479.4
Total net sales	$	824.0	$	712.0	$	2,371.2	$	2,050.0

(1) The three and nine months ended September 30, 2022 include the acceleration of $17.9 million of previously deferred revenue related to a customer’s decision to discontinue further investment in commercializing its COVID-19 testing application. See Note 13 for further detail.

Schedule of External Net Sales Disaggregated by Geography

Revenue by geographical region for the three and nine months ended September 30, 2022 and 2021 was as follows:



	Three Months Ended September 30, 2022
	FMT		HST		FSDP		IDEX
U.S.(1)	$	178.4	$	175.0	$	93.5	$	446.9
North America, excluding U.S.	20.4		3.3		8.4		32.1
Europe(1)	47.2		93.0		36.8		177.0
Asia	39.1		67.4		25.4		131.9
Other(2)	22.5		6.3		8.3		37.1
Intersegment elimination	(0.2)		(0.7)		(0.1)		(1.0)
Total net sales	$	307.4	$	344.3	$	172.3	$	824.0



	Three Months Ended September 30, 2021
	FMT		HST		FSDP		IDEX
U.S.	$	137.0	$	148.2	$	80.0	$	365.2
North America, excluding U.S.	13.7		5.2		7.2		26.1
Europe	48.8		86.5		39.9		175.2
Asia	36.9		60.0		24.4		121.3
Other(2)	14.9		2.4		7.6		24.9
Intersegment elimination	—		(0.7)		—		(0.7)
Total net sales	$	251.3	$	301.6	$	159.1	$	712.0


	Nine Months Ended September 30, 2022
	FMT		HST		FSDP		IDEX
U.S.(1)	$	498.9	$	484.7	$	255.0	$	1,238.6
North America, excluding U.S.	54.3		20.3		27.8		102.4
Europe(1)	147.7		276.8		123.8		548.3
Asia	116.8		187.0		75.4		379.2
Other(2)	61.8		17.4		26.3		105.5
Intersegment elimination	(0.7)		(1.9)		(0.2)		(2.8)
Total net sales	$	878.8	$	984.3	$	508.1	$	2,371.2


	Nine Months Ended September 30, 2021
	FMT		HST		FSDP		IDEX
U.S.	$	399.1	$	355.8	$	227.3	$	982.2
North America, excluding U.S.	42.6		16.7		22.6		81.9
Europe	150.1		258.8		127.9		536.8
Asia	108.5		179.0		78.1		365.6
Other(2)	45.6		17.4		23.5		86.5
Intersegment elimination	(0.7)		(2.3)		—		(3.0)
Total net sales	$	745.2	$	825.4	$	479.4	$	2,050.0

(1) Includes the acceleration of $17.9 million of previously deferred revenue related to a customer’s decision to discontinue further investment in commercializing its COVID-19 testing application, of which $9.5 million was recognized in the U.S. and $8.4 million was recognized in Europe in both the three and nine months ended September 30, 2022. See Note 13 for further detail.(2) Other includes: South America, Middle East, Australia and Africa.

Schedule of Contract with Customer, Asset and Liability

The composition of customer receivables was as follows:


	September 30, 2022		December 31, 2021
Billed receivables	$	393.0	$	344.0
Unbilled receivables	9.2		10.9
Total customer receivables	$	402.2	$	354.9

Schedule of New Accounting Pronouncements and Changes in Accounting Principles

The composition of Deferred revenue was as follows:


	September 30, 2022		December 31, 2021
Deferred revenue - current	$	45.2	$	49.0
Deferred revenue - noncurrent	14.6		32.2
Total deferred revenue(1)	$	59.8	$	81.2

(1) The balance as of September 30, 2022 has been reduced by the acceleration of previously deferred revenue of $17.9 million related to a customer’s decision to discontinue further investment in commercializing its COVID-19 testing application. See Note 13 for further detail.