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Business Segments and Geographic Information | 12 Months Ended
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Dec. 31, 2012
Business Segments and Geographic Information |
11. | 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: IH&S; IOP; Containment; 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 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, 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. Certain prior year amounts have been revised to include the Dispensing Equipment segment as part of the Fire & Safety/Diversified Products segment and to reflect the movement of our Trebor business unit from the Health & Science Technologies segment to the Fluid & Metering Technologies segment.
|  | 2012 |  |  | 2011 |  |  | 2010 |
|  | (In thousands) |
NET SALES |  |  |  |  |  |  |  |  |  |  |  |
Fluid & Metering Technologies: |  |  |  |  |  |  |  |  |  |  |  |
External customers |  | $ | 829,320 |  |  | $ | 830,821 |  |  | $ | 717,579 |
Intersegment sales |  |  | 3,968 |  |  |  | 466 |  |  |  | 712 |
Total segment sales |  |  | 833,288 |  |  |  | 831,287 |  |  |  | 718,291 |
Health & Science Technologies: |  |  |  |  |  |  |  |  |  |  |  |
External customers |  |  | 689,574 |  |  |  | 606,247 |  |  |  | 405,135 |
Intersegment sales |  |  | 5,661 |  |  |  | 1,653 |  |  |  | 3,717 |
Total segment sales |  |  | 695,235 |  |  |  | 607,900 |  |  |  | 408,852 |
Fire & Safety/Diversified Products: |  |  |  |  |  |  |  |  |  |  |  |
External customers |  |  | 435,364 |  |  |  | 401,383 |  |  |  | 390,359 |
Intersegment sales |  |  | 1,689 |  |  |  | 1,042 |  |  |  | 462 |
Total segment sales |  |  | 437,053 |  |  |  | 402,425 |  |  |  | 390,821 |
Intersegment eliminations |  |  | (11,318 | ) |  |  | (3,161 | ) |  |  | (4,891 | )
Total net sales |  | $ | 1,954,258 |  |  | $ | 1,838,451 |  |  | $ | 1,513,073 |
OPERATING INCOME(1) |  |  |  |  |  |  |  |  |  |  |  |
Fluid & Metering Technologies(2) |  | $ | 146,650 |  |  | $ | 164,818 |  |  | $ | 131,018 |
Health & Science Technologies(2) |  |  | (62,835 | ) |  |  | 106,037 |  |  |  | 83,258 |
Fire & Safety/Diversified Products |  |  | 96,120 |  |  |  | 85,901 |  |  |  | 82,334 |
Corporate office and other(3) |  |  | (51,717 | ) |  |  | (52,100 | ) |  |  | (47,494 | )
Total operating income |  |  | 128,218 |  |  |  | 304,656 |  |  |  | 249,116 |
Interest expense |  |  | 42,250 |  |  |  | 29,332 |  |  |  | 16,150 |
Other income (expense)-net |  |  | 236 |  |  |  | (1,443 | ) |  |  | (1,092 | )
Income before taxes |  | $ | 86,204 |  |  | $ | 273,881 |  |  | $ | 231,874 |
|  | 2012 |  |  | 2011 |  |  | 2010 |
|  | (In thousands) |
ASSETS |  |  |  |  |  |  |  |  |  |  |  |
Fluid & Metering Technologies |  | $ | 1,023,143 |  |  | $ | 1,072,023 |  |  | $ | 1,065,953 |
Health & Science Technologies |  |  | 1,102,868 |  |  |  | 1,178,653 |  |  |  | 693,532 |
Fire & Safety/Diversified Products |  |  | 488,886 |  |  |  | 442,400 |  |  |  | 484,107 |
Corporate office and other(3) |  |  | 170,493 |  |  |  | 143,031 |  |  |  | 138,103 |
Total assets |  | $ | 2,785,390 |  |  | $ | 2,836,107 |  |  | $ | 2,381,695 |
DEPRECIATION AND AMORTIZATION(4) |  |  |  |  |  |  |  |  |  |  |  |
Fluid & Metering Technologies |  | $ | 29,637 |  |  | $ | 32,368 |  |  | $ | 31,893 |
Health & Science Technologies |  |  | 39,981 |  |  |  | 30,055 |  |  |  | 17,253 |
Fire & Safety/Diversified Products |  |  | 7,107 |  |  |  | 8,516 |  |  |  | 8,638 |
Corporate office and other |  |  | 1,587 |  |  |  | 1,447 |  |  |  | 324 |
Total depreciation and amortization |  | $ | 78,312 |  |  | $ | 72,386 |  |  | $ | 58,108 |
CAPITAL EXPENDITURES |  |  |  |  |  |  |  |  |  |  |  |
Fluid & Metering Technologies |  | $ | 13,535 |  |  | $ | 12,543 |  |  | $ | 17,314 |
Health & Science Technologies |  |  | 13,140 |  |  |  | 12,938 |  |  |  | 7,510 |
Fire & Safety/Diversified Products |  |  | 6,654 |  |  |  | 5,644 |  |  |  | 4,642 |
Corporate office and other |  |  | 2,191 |  |  |  | 3,423 |  |  |  | 3,303 |
Total capital expenditures |  | $ | 35,520 |  |  | $ | 34,548 |  |  | $ | 32,769 |
(1) | Segment operating income excludes net unallocated corporate operating expenses.
(2) | Segment operating income includes asset impairment charge in 2012 for $27.7 million within the Fluid & Metering Technologies segment and $170.8 within the Health & Science Technologies segment.
(3) | Includes intersegment eliminations.
(4) | Excludes amortization of debt issuance expenses.
Information about the Company’s operations in different geographical regions for the years ended December 31, 2012, 2011 and 2010 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.
|  | 2012 |  |  | 2011 |  |  | 2010 |
|  | (In thousands) |
NET SALES |  |  |  |  |  |  |  |  |  |  |  |
U.S. |  | $ | 963,137 |  |  | $ | 857,990 |  |  | $ | 766,067 |
Europe |  |  | 479,744 |  |  |  | 492,125 |  |  |  | 402,056 |
Other countries |  |  | 511,377 |  |  |  | 488,336 |  |  |  | 344,950 |
Total net sales |  | $ | 1,954,258 |  |  | $ | 1,838,451 |  |  | $ | 1,513,073 |
LONG-LIVED ASSETS — PROPERTY, PLANT AND EQUIPMENT |  |  |  |  |  |  |  |  |  |  |  |
U.S. |  | $ | 127,425 |  |  | $ | 124,102 |  |  | $ | 108,951 |
Europe |  |  | 64,137 |  |  |  | 63,433 |  |  |  | 68,756 |
Other countries |  |  | 27,599 |  |  |  | 26,182 |  |  |  | 10,855 |
Total long-lived assets — net |  | $ | 219,161 |  |  | $ | 213,717 |  |  | $ | 188,562 |

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 29 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8864-108599 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8906-108599 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8933-108599 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 35 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8984-108599 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8380-108599 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 10 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8538-108599 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 42 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9054-108599 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8595-108599 Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 131 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 10: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 34 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8981-108599 Reference 11: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 33 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8971-108599 Reference 12: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 26 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8844-108599 Reference 13: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8924-108599 Reference 14: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9031-108599 Reference 15: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9038-108599 + Details
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