Revenue (Tables)

12 Months Ended

Dec. 31, 2023

Revenue from Contract with Customer [Abstract]

Revenue by reporting unit for the years ended December 31, 2023, 2022 and 2021 was as follows:


	For the Year Ended December 31,
	2023		2022		2021
Pumps	$	402.9	$	396.5	$	345.1
Water	345.8		307.8		255.3
Energy	209.3		191.3		169.0
Agriculture	159.6		152.8		107.4
Valves	129.5		118.9		121.9
Intersegment elimination	(2.9)		(1.1)		(0.7)
Fluid & Metering Technologies	1,244.2		1,166.2		998.0
Scientific Fluidics & Optics(1)	681.5		639.0		508.0
Performance Pneumatic Technologies	250.0		257.6		182.2
Sealing Solutions	242.3		266.0		264.2
Material Processing Technologies	120.7		138.1		134.5
Micropump(2)	21.9		38.5		32.9
Intersegment elimination	(2.9)		(2.4)		(2.8)
Health & Science Technologies	1,313.5		1,336.8		1,119.0
Fire & Safety	431.9		400.1		377.5
Dispensing	167.5		167.5		169.6
BAND-IT	119.4		111.6		100.8
Intersegment elimination	(2.6)		(0.3)		(0.1)
Fire & Safety/Diversified Products	716.2		678.9		647.8
Total net sales	$	3,273.9	$	3,181.9	$	2,764.8

(1) The year ended December 31, 2022 includes 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 14 for further detail.

(2) Revenue from Micropump (sold on August 3, 2023) has been included in the Company’s 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 years ended December 31, 2023, 2022 and 2021 was as follows:


	For the Year Ended December 31, 2023
	FMT		HST		FSDP		IDEX
U.S.	$	695.7	$	575.5	$	371.9	$	1,643.1
North America, excluding U.S.	70.3		22.6		33.4		126.3
Europe	213.8		439.9		166.7		820.4
Asia	177.6		249.4		108.5		535.5
Other(1)	89.7		29.0		38.3		157.0
Intersegment elimination	(2.9)		(2.9)		(2.6)		(8.4)
Total net sales	$	1,244.2	$	1,313.5	$	716.2	$	3,273.9


	For the Year Ended December 31, 2022
	FMT		HST		FSDP		IDEX
U.S.(2)	$	660.8	$	646.9	$	343.3	$	1,651.0
North America, excluding U.S.	71.5		25.8		35.3		132.6
Europe(2)	194.6		379.7		160.9		735.2
Asia	157.8		261.3		104.2		523.3
Other(1)	82.6		25.5		35.5		143.6
Intersegment elimination	(1.1)		(2.4)		(0.3)		(3.8)
Total net sales	$	1,166.2	$	1,336.8	$	678.9	$	3,181.9


	For the Year Ended December 31, 2021
	FMT		HST		FSDP		IDEX
U.S.	$	532.9	$	489.7	$	317.0	$	1,339.6
North America, excluding U.S.	61.6		23.7		28.5		113.8
Europe	197.2		341.0		161.5		699.7
Asia	143.7		241.8		110.0		495.5
Other(1)	63.3		25.6		30.9		119.8
Intersegment elimination	(0.7)		(2.8)		(0.1)		(3.6)
Total net sales	$	998.0	$	1,119.0	$	647.8	$	2,764.8

(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 as a result of 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 the year ended December 31, 2022. See Note 14 for further detail.

Schedule of Contract with Customer, Asset and Liability

The composition of customer receivables was as follows:


	December 31, 2023		December 31, 2022
Billed receivables	$	408.1	$	421.3
Unbilled receivables	10.9		10.0
Total customer receivables	$	419.0	$	431.3

Schedule of New Accounting Pronouncements and Changes in Accounting Principles

The composition of deferred revenue was as follows:


	December 31, 2023		December 31, 2022
Deferred revenue - current	$	55.9	$	44.7
Deferred revenue - noncurrent	17.3		15.0
Total deferred revenue	$	73.2	$	59.7