Business Segments

9 Months Ended

Sep. 30, 2013

Segment Reporting [Abstract]

Business Segments

Business Segments

The Company has three reportable business segments: Fluid & Metering Technologies, Health & Science Technologies and Fire & Safety/Diversified Products.

The Fluid & Metering Technologies segment designs, produces and distributes positive displacement pumps, flow meters, injectors, and other fluid-handling pump modules and systems and provides flow monitoring and other services for the water and wastewater industries. The Health & Science Technologies segment designs, produces and distributes a wide range of precision fluidics, rotary lobe pumps, centrifugal and positive displacement pumps, roll compaction and drying systems used in beverage, food processing, pharmaceutical and cosmetics, pneumatic components and sealing solutions, very high precision, low-flow rate pumping solutions required in analytical instrumentation, clinical diagnostics and drug discovery, high performance molded and extruded, biocompatible medical devices and implantables, air compressors used in medical, dental and industrial applications, optical components and coatings for applications in the fields of scientific research, defense, biotechnology, aerospace, semiconductor, telecommunications and electronics manufacturing, laboratory and commercial equipment used in the production of micro and nano scale materials, precision photonic solutions used in life sciences, research and defense markets, and precision gear and peristaltic pump technologies that meet exacting original equipment manufacturer specifications. The Fire & Safety/Diversified Products segment produces firefighting pumps and controls, rescue tools, lifting bags and other components and systems for the fire and rescue industry, engineered stainless steel banding and clamping devices used in a variety of industrial and commercial applications, and precision equipment for dispensing, metering and mixing colorants and paints used in a variety of retail and commercial businesses around the world.

Information on the Company’s business segments is presented below, based on the nature of products and services offered. The Company evaluates performance based on several factors, of which operating income is the primary financial measure. Intersegment sales are accounted for at fair value as if the sales were to third parties.

	Three Months Ended   September 30,						Nine Months Ended   September 30,
	2013			2012			2013			2012
	(In thousands)
Net sales:
Fluid & Metering Technologies:
External customers	$	212,054		$	197,620		$	648,675		$	620,451
Intersegment sales	283			380			905			982
Total group sales	212,337			198,000			649,580			621,433
Health & Science Technologies:
External customers	177,674			174,351			528,459			516,314
Intersegment sales	954			1,874			3,904			4,260
Total group sales	178,628			176,225			532,363			520,574
Fire & Safety/Diversified Products:
External customers	100,889			107,888			326,376			326,655
Intersegment sales	188			311			450			1,518
Total group sales	101,077			108,199			326,826			328,173
Intersegment elimination	(1,425		)	(2,565		)	(5,259		)	(6,760		)
Total net sales	$	490,617		$	479,859		$	1,503,510		$	1,463,420
Operating income:
Fluid & Metering Technologies	$	51,736		$	41,649		$	155,930		$	132,477
Health & Science Technologies	36,775			27,305			103,564			84,711
Fire & Safety/Diversified Products	22,119			24,738			74,027			74,524
Corporate office and other	(13,261		)	(13,104		)	(41,881		)	(37,905		)
Total operating income	97,369			80,588			291,640			253,807
Interest expense	10,570			10,536			31,724			31,734
Other income (expense)-net	(188		)	132			518			19
Income before income taxes	$	86,611		$	70,184		$	260,434		$	222,092

	September 30, 2013		December 31, 2012
	(In thousands)
Assets:
Fluid & Metering Technologies	$	1,053,338	$	1,023,143
Health & Science Technologies	1,133,401		1,102,868
Fire & Safety/Diversified Products	495,163		488,886
Corporate office and other(1)	167,479		170,493
Total assets	$	2,849,381	$	2,785,390

(1) Includes intersegment eliminations.