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Business Segments | 9 Months Ended
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Sep. 30, 2014
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,
| 2014 |  | 2013 |  | 2014 |  | 2013
Net sales |  |  |  |  |  |  |
Fluid & Metering Technologies |  |  |  |  |  |  |
External customers | $ | 223,018 |  |  | $ | 212,054 |  |  | $ | 671,891 |  |  | $ | 648,675 |
Intersegment sales | 240 |  |  | 283 |  |  | 828 |  |  | 905 |
Total group sales | 223,258 |  |  | 212,337 |  |  | 672,719 |  |  | 649,580 |
Health & Science Technologies |  |  |  |  |  |  |
External customers | 189,975 |  |  | 177,674 |  |  | 558,716 |  |  | 528,459 |
Intersegment sales | 877 |  |  | 954 |  |  | 4,183 |  |  | 3,904 |
Total group sales | 190,852 |  |  | 178,628 |  |  | 562,899 |  |  | 532,363 |
Fire & Safety/Diversified Products |  |  |  |  |  |  |
External customers | 120,186 |  |  | 100,889 |  |  | 393,261 |  |  | 326,376 |
Intersegment sales | 127 |  |  | 188 |  |  | 518 |  |  | 450 |
Total group sales | 120,313 |  |  | 101,077 |  |  | 393,779 |  |  | 326,826 |
Intersegment elimination | (1,244 | ) |  | (1,425 | ) |  | (5,529 | ) |  | (5,259 | )
Total net sales | $ | 533,179 |  |  | $ | 490,617 |  |  | $ | 1,623,868 |  |  | $ | 1,503,510 |
Operating income |  |  |  |  |  |  |
Fluid & Metering Technologies | $ | 54,791 |  |  | $ | 51,736 |  |  | $ | 166,821 |  |  | $ | 155,930 |
Health & Science Technologies | 42,214 |  |  | 36,775 |  |  | 114,580 |  |  | 103,564 |
Fire & Safety/Diversified Products | 31,355 |  |  | 22,119 |  |  | 106,988 |  |  | 74,027 |
Corporate office and other | (17,513 | ) |  | (13,261 | ) |  | (51,619 | ) |  | (41,881 | )
Total operating income | 110,847 |  |  | 97,369 |  |  | 336,770 |  |  | 291,640 |
Interest expense | 10,461 |  |  | 10,570 |  |  | 31,323 |  |  | 31,724 |
Other (income) expense - net | (944 | ) |  | 188 |  |  | (1,651 | ) |  | (518 | )
Income before income taxes | $ | 101,330 |  |  | $ | 86,611 |  |  | $ | 307,098 |  |  | $ | 260,434 |
| September 30, 2014 |  | December 31, 2013
Assets |  |  |
Fluid & Metering Technologies | $ | 1,029,719 |  |  | $ | 1,025,352 |
Health & Science Technologies | 1,127,605 |  |  | 1,113,546 |
Fire & Safety/Diversified Products | 512,585 |  |  | 484,139 |
Corporate office | 269,403 |  |  | 264,540 |
Total assets | $ | 2,939,312 |  |  | $ | 2,887,577 |

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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 32 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8933-108599 Reference 3: 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 4: 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 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 34 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8981-108599 Reference 7: 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 8: 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 Reference 9: 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 10: 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 11: 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 12: 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 13: 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 14: 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 + Details
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