Business Segments and Geographic Information

12 Months Ended

Dec. 31, 2013

Segment Reporting [Abstract]

Business Segments and Geographic Information

Business Segments and Geographic Information

IDEX has three reportable business segments: Fluid & Metering Technologies, Health & Science Technologies and Fire & Safety/Diversified Products. Reporting units in the Fluid & Metering Technologies segment consist of: Banjo; Energy; CFP; DDPT and WST. Reporting units in the Health & Science Technologies segment consist of: Scientific Fluidics; IOP; Sealing Solutions; Gast; Micropump and MPT. Reporting units in the Fire & Safety/Diversified Products segment consist of: Fire Suppression; Rescue; Band-It; and Dispensing Equipment.

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 food, chemical, general industrial, water and wastewater, agricultural and energy 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, including 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, 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.

	2013			2012			2011
	(In thousands)
NET SALES
Fluid & Metering Technologies
External customers	$	870,720		$	829,320		$	830,821
Intersegment sales	1,094			3,968			466
Total segment sales	871,814			833,288			831,287
Health & Science Technologies
External customers	708,940			689,574			606,247
Intersegment sales	5,710			5,661			1,653
Total segment sales	714,650			695,235			607,900
Fire & Safety/Diversified Products
External customers	444,470			435,364			401,383
Intersegment sales	579			1,689			1,042
Total segment sales	445,049			437,053			402,425
Intersegment eliminations	(7,383		)	(11,318		)	(3,161		)
Total net sales	$	2,024,130		$	1,954,258		$	1,838,451
OPERATING INCOME (LOSS)(1)
Fluid & Metering Technologies(2)	$	211,256		$	146,650		$	164,818
Health & Science Technologies(2)	136,707			(62,835		)	106,037
Fire & Safety/Diversified Products	102,730			96,120			85,901
Corporate office	(55,180		)	(51,717		)	(52,100		)
Total operating income	395,513			128,218			304,656
Interest expense	42,206			42,250			29,332
Other income (expense) - net	(178		)	236			(1,443		)
Income before taxes	$	353,129		$	86,204		$	273,881

	2013		2012		2011
	(In thousands)
ASSETS
Fluid & Metering Technologies	$	1,025,352	$	1,023,143	$	1,072,023
Health & Science Technologies	1,113,546		1,102,868		1,178,653
Fire & Safety/Diversified Products	484,139		488,886		442,400
Corporate office	264,540		170,493		143,031
Total assets	$	2,887,577	$	2,785,390	$	2,836,107
DEPRECIATION AND AMORTIZATION(3)
Fluid & Metering Technologies	$	27,633	$	29,637	$	32,368
Health & Science Technologies	43,496		39,981		30,055
Fire & Safety/Diversified Products	6,852		7,107		8,516
Corporate office and other	1,353		1,587		1,447
Total depreciation and amortization	$	79,334	$	78,312	$	72,386
CAPITAL EXPENDITURES
Fluid & Metering Technologies	$	11,581	$	13,535	$	12,543
Health & Science Technologies	12,280		13,140		12,938
Fire & Safety/Diversified Products	5,040		6,654		5,644
Corporate office and other	2,635		2,191		3,423
Total capital expenditures	$	31,536	$	35,520	$	34,548

(1) Segment operating income excludes net unallocated corporate operating expenses.

(2) Segment operating income includes asset impairment charges in 2012 of $27.7 million within the Fluid & Metering Technologies segment and $170.8 million within the Health & Science Technologies segment.

(3) Excludes amortization of debt issuance expenses.

Information about the Company’s operations in different geographical regions for the years ended December 31, 2013, 2012 and 2011 is shown below. Net sales were attributed to geographic areas based on location of the customer, and no country outside the U.S. was greater than 10% of total revenues.

	2013		2012		2011
	(In thousands)
NET SALES
U.S.	$	983,791	$	963,137	$	857,990
Europe	521,491		479,744		492,125
Asia	306,466		305,185		278,900
Other countries	212,382		206,192		209,436
Total net sales	$	2,024,130	$	1,954,258	$	1,838,451
LONG-LIVED ASSETS — PROPERTY, PLANT AND EQUIPMENT
U.S.	$	124,880	$	127,425	$	124,102
Europe	63,018		64,137		63,433
Asia	24,590		26,320		24,570
Other countries	1,000		1,279		1,612
Total long-lived assets — net	$	213,488	$	219,161	$	213,717