Revenue (Tables)

9 Months Ended

Sep. 30, 2023

Revenue from Contract with Customer [Abstract]

Schedule of Disaggregation of Revenue

Revenue by reporting unit for the three and nine months ended September 30, 2023 and 2022 was as follows:

	Three Months Ended September 30,				Nine Months Ended September 30,
	2023		2022		2023		2022
Pumps	$	94.7	$	102.6	$	309.0	$	304.5
Water	79.8		82.1		261.2		228.1
Energy	53.7		51.3		160.1		144.3
Agriculture	39.2		42.1		117.9		112.5
Valves	33.7		29.5		99.8		90.1
Intersegment elimination	(0.6)		(0.2)		(2.3)		(0.7)
Fluid & Metering Technologies	300.5		307.4		945.7		878.8
Scientific Fluidics & Optics(1)	162.1		172.4		509.7		462.8
Performance Pneumatic Technologies	60.0		64.1		195.4		191.2
Sealing Solutions	59.2		64.9		186.3		203.1
Material Processing Technologies	29.7		34.6		90.4		103.1
Micropump(2)	2.2		9.0		21.9		26.0
Intersegment elimination	(0.5)		(0.7)		(2.3)		(1.9)
Health & Science Technologies	312.7		344.3		1,001.4		984.3
Fire & Safety	112.0		100.6		328.0		296.1
Dispensing	41.9		42.8		122.8		128.2
BAND-IT	26.7		29.0		89.0		84.0
Intersegment elimination	(0.4)		(0.1)		(1.9)		(0.2)
Fire & Safety/Diversified Products	180.2		172.3		537.9		508.1
Net sales	$	793.4	$	824.0	$	2,485.0	$	2,371.2

(1) The three and nine months ended September 30, 2022 include the acceleration of previously deferred revenue of $17.9 million as a result of a customer’s decision to discontinue further investment in commercializing its COVID-19 testing application. See Note 12 for further detail.

(2) Revenue from Micropump (sold on August 3, 2023) has been included in the Company’s Condensed Consolidated Statements of Income through the date of disposition. See Note 2 for further detail.

Schedule of External Net Sales Disaggregated by Geography

Revenue by geographical region for the three and nine months ended September 30, 2023 and 2022 was as follows:

	Three Months Ended September 30, 2023
	FMT		HST		FSDP		IDEX
U.S.	$	168.4	$	139.2	$	94.4	$	402.0
North America, excluding U.S.	15.5		3.2		8.8		27.5
Europe	52.3		106.0		39.0		197.3
Asia	43.1		57.8		29.0		129.9
Other(1)	21.8		7.0		9.4		38.2
Intersegment elimination	(0.6)		(0.5)		(0.4)		(1.5)
Net sales	$	300.5	$	312.7	$	180.2	$	793.4

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

	Nine Months Ended September 30, 2023
	FMT		HST		FSDP		IDEX
U.S.	$	525.9	$	437.3	$	280.5	$	1,243.7
North America, excluding U.S.	52.8		16.6		25.4		94.8
Europe	163.0		338.1		126.1		627.2
Asia	137.0		189.6		80.4		407.0
Other(1)	69.3		22.1		27.4		118.8
Intersegment elimination	(2.3)		(2.3)		(1.9)		(6.5)
Net sales	$	945.7	$	1,001.4	$	537.9	$	2,485.0

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

(1) Other includes: South America, Middle East, Australia and Africa.

(2) The HST segment 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 12 for further detail.

Schedules of Concentration of Risk

Revenue from products and services transferred to customers at a point in time and over time was as follows:

	Three Months Ended September 30,				Nine Months Ended September 30,
	2023		2022		2023		2022
Revenue from products transferred at a point in time	95	%	96	%	95	%	96	%
Revenue from products and services transferred over time	5	%	4	%	5	%	4	%

Schedule of Contract with Customer, Asset and Liability

The composition of customer receivables was as follows:

	September 30, 2023		December 31, 2022
Billed receivables	$	413.4	$	421.3
Unbilled receivables	9.4		10.0
Total customer receivables	$	422.8	$	431.3

Schedule of New Accounting Pronouncements and Changes in Accounting Principles

The composition of deferred revenue was as follows:

	September 30, 2023		December 31, 2022
Deferred revenue - current	$	48.9	$	44.7
Deferred revenue - noncurrent	15.8		15.0
Total deferred revenue	$	64.7	$	59.7