XML 59 R39.htm IDEA: XBRL DOCUMENT
v3.3.1.900

Retirement Benefits (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2015
Defined Benefit Plan Disclosure [Line Items] |
Reconciliation of Changes in Benefit Obligations and Fair Value of Plan Assets | The following table provides a reconciliation of the changes in the benefit obligations and fair value of plan assets over the two-year period ended December 31, 2015, and a statement of the funded status at December 31 for both years.
| Pension Benefits |  | Other Benefits
| 2015 |  | 2014 |  | 2015 |  | 2014
| U.S. |  | Non-U.S. |  | U.S. |  | Non-U.S. |  |  |  |
| (In thousands)
CHANGE IN BENEFIT OBLIGATION
Obligation at January 1 | $ | 102,312 |  |  | $ | 69,488 |  |  | $ | 92,839 |  |  | $ | 60,471 |  |  | $ | 22,855 |  |  | $ | 21,354 |
Service cost | 1,279 |  |  | 1,506 |  |  | 1,162 |  |  | 1,331 |  |  | 673 |  |  | 714 |
Interest cost | 3,770 |  |  | 1,734 |  |  | 4,037 |  |  | 2,345 |  |  | 833 |  |  | 932 |
Plan amendments | 113 |  |  | — |  |  | — |  |  | (150 | ) |  | — |  |  | — |
Benefits paid | (3,985 | ) |  | (2,448 | ) |  | (6,230 | ) |  | (2,955 | ) |  | (622 | ) |  | (691 | )
Actuarial loss (gain) | (5,013 | ) |  | (6,909 | ) |  | 10,540 |  |  | 15,092 |  |  | (2,966 | ) |  | 728 |
Currency translation | — |  |  | (5,308 | ) |  | — |  |  | (6,646 | ) |  | (373 | ) |  | (182 | )
Curtailments/settlements | — |  |  | — |  |  | (36 | ) |  | — |  |  | — |  |  | — |
Obligation at December 31 | $ | 98,476 |  |  | $ | 58,063 |  |  | $ | 102,312 |  |  | $ | 69,488 |  |  | $ | 20,400 |  |  | $ | 22,855 |
CHANGE IN PLAN ASSETS |  |  |  |  |  |  |  |  |  |  |
Fair value of plan assets at January 1 | $ | 79,687 |  |  | $ | 22,152 |  |  | $ | 81,957 |  |  | $ | 22,334 |  |  | $ | — |  |  | $ | — |
Actual return on plan assets | (2,587 | ) |  | 205 |  |  | 2,385 |  |  | 1,738 |  |  | — |  |  | — |
Employer contributions | 4,460 |  |  | 1,837 |  |  | 1,611 |  |  | 2,424 |  |  | 622 |  |  | 691 |
Benefits paid | (3,985 | ) |  | (2,448 | ) |  | (6,230 | ) |  | (2,955 | ) |  | (622 | ) |  | (691 | )
Currency translation | — |  |  | (1,101 | ) |  | — |  |  | (1,389 | ) |  | — |  |  | — |
Settlements | — |  |  | — |  |  | (36 | ) |  | — |  |  | — |  |  | — |
Fair value of plan assets at December 31 | $ | 77,575 |  |  | $ | 20,645 |  |  | $ | 79,687 |  |  | $ | 22,152 |  |  | $ | — |  |  | $ | — |
Funded status at December 31 | $ | (20,901 | ) |  | $ | (37,418 | ) |  | $ | (22,625 | ) |  | $ | (47,336 | ) |  | $ | (20,400 | ) |  | $ | (22,855 | )
COMPONENTS ON THE CONSOLIDATED BALANCE SHEETS
Current liabilities | $ | (743 | ) |  | $ | (875 | ) |  | $ | (522 | ) |  | $ | (805 | ) |  | $ | (911 | ) |  | $ | (905 | )
Other noncurrent liabilities | (20,158 | ) |  | (36,543 | ) |  | (22,103 | ) |  | (46,531 | ) |  | (19,489 | ) |  | (21,950 | )
Net liability at December 31 | $ | (20,901 | ) |  | $ | (37,418 | ) |  | $ | (22,625 | ) |  | $ | (47,336 | ) |  | $ | (20,400 | ) |  | $ | (22,855 | )
Weighted Average Assumptions Used in Measurement of Benefit Obligation | The weighted average assumptions used in the measurement of the Company’s benefit obligation at December 31, 2015 and 2014 were as follows:
| U.S. Plans |  | Non-U.S. Plans
| 2015 |  | 2014 |  | 2015 |  | 2014
Discount rate | 4.12 | % |  | 3.78 | % |  | 2.99 | % |  | 2.66 | %
Rate of compensation increase | 4.00 | % |  | 4.00 | % |  | 2.98 | % |  | 3.00 | %
Pretax Amounts Recognized in Accumulated Other Comprehensive Income (Loss) | The pretax amounts recognized in Accumulated other comprehensive income (loss) as of December 31, 2015 and 2014 were as follows:
| Pension Benefits |  | Other Benefits
| 2015 |  | 2014 |  | 2015 |  | 2014
| U.S. |  | Non-U.S. |  | U.S. |  | Non-U.S |  |  |  |
| (In thousands)
Prior service cost (credit) | $ | 135 |  |  | $ | (38 | ) |  | $ | 86 |  |  | $ | (40 | ) |  | $ | (1,215 | ) |  | $ | (1,580 | )
Net loss | 33,461 |  |  | 15,330 |  |  | 34,337 |  |  | 25,275 |  |  | (2,197 | ) |  | 655 |
Total | $ | 33,596 |  |  | $ | 15,292 |  |  | $ | 34,423 |  |  | $ | 25,235 |  |  | $ | (3,412 | ) |  | $ | (925 | )
Amounts in Accumulated Other Comprehensive Income (Loss) Expected to Be Recognized as Components of Net Periodic Benefit Cost During 2012 | The amounts in Accumulated other comprehensive income (loss) as of December 31, 2015, that are expected to be recognized as components of net periodic benefit cost during 2016 are as follows:
| U.S. Pension Benefit Plans |  | Non-U.S. Pension Benefit Plans |  | Other Benefit Plans |  | Total
| (In thousands)
Prior service cost (credit) | $ | 24 |  |  | $ | (15 | ) |  | $ | (366 | ) |  | $ | (357 | )
Net loss | 3,285 |  |  | 1,028 |  |  | (249 | ) |  | 4,064 |
Total | $ | 3,309 |  |  | $ | 1,013 |  |  | $ | (615 | ) |  | $ | 3,707 |
Weighted Average Assumptions Used to Determine Net Periodic Benefit Cost of Plans |
| U.S. Plans |  | Non-U.S. Plans
| 2015 |  | 2014 |  | 2013 |  | 2015 |  | 2014 |  | 2013
Discount rate | 3.78 | % |  | 4.61 | % |  | 3.56 | % |  | 2.66 | % |  | 4.03 | % |  | 3.91 | %
Expected return on plan assets | 6.50 | % |  | 7.00 | % |  | 7.50 | % |  | 5.19 | % |  | 5.83 | % |  | 5.53 | %
Rate of compensation increase | 4.00 | % |  | 4.00 | % |  | 3.94 | % |  | 3.00 | % |  | 3.14 | % |  | 2.99 | %
Pension Plan Weighted Average Asset Allocations | The Company’s pension plan weighted average asset allocations at December 31, 2015 and 2014, by asset category, were as follows:
| 2015 |  | 2014
Equity securities | 46 | % |  | 51 | %
Fixed income securities | 48 | % |  | 49 | %
Cash/Other | 6 | % |  | — | %
Total | 100 | % |  | 100 | %
Summary of Basis Used to Measure Defined Benefit Plans' Assets at Fair Value | The basis used to measure the defined benefit plans’ assets at fair value at December 31, 2015 and 2014 is summarized as follows:
| Basis of Fair Value Measurement
| Outstanding Balances |  | Level 1 |  | Level 2 |  | Level 3
As of December 31, 2015 | (In thousands)
Equity |  |  |  |  |  |  |
U.S. Large Cap | $ | 23,465 |  |  | $ | 23,465 |  |  | $ | — |  |  | $ | — |
U.S. Small / Mid Cap | 10,184 |  |  | 7,482 |  |  | 2,702 |  |  | — |
International | 11,986 |  |  | 7,786 |  |  | 4,200 |  |  | — |
Fixed Income |  |  |  |  |  |  |
U.S. Intermediate | 15,000 |  |  | 15,000 |  |  | — |  |  | — |
U.S. Short Duration | 8,935 |  |  | 8,935 |  |  | — |  |  | — |
U.S. High Yield | 7,758 |  |  | 6,922 |  |  | 836 |  |  | — |
International | 15,249 |  |  | 7,241 |  |  | 8,008 |  |  | — |
Cash and Equivalents | 1,829 |  |  | 1,829 |  |  | — |  |  | — |
Other | 3,836 |  |  | — |  |  | 3,836 |  |  | — |
| $ | 98,242 |  |  | $ | 78,660 |  |  | $ | 19,582 |  |  | $ | — |
| Basis of Fair Value Measurement
| Outstanding Balances |  | Level 1 |  | Level 2 |  | Level 3
As of December 31, 2014 | (In thousands)
Equity |  |  |  |  |  |  |
U.S. Large Cap | $ | 26,787 |  |  | $ | 26,787 |  |  | $ | — |  |  | $ | — |
U.S. Small / Mid Cap | 7,950 |  |  | 7,950 |  |  | — |  |  | — |
International | 14,797 |  |  | 8,275 |  |  | 6,522 |  |  | — |
Fixed Income |  |  |  |  |  |  |
U.S. Intermediate | 14,906 |  |  | 14,906 |  |  | — |  |  | — |
U.S. Short Duration | 8,817 |  |  | 8,817 |  |  | — |  |  | — |
U.S. High Yield | 5,270 |  |  | 5,270 |  |  | — |  |  | — |
International | 20,776 |  |  | 6,679 |  |  | 14,097 |  |  | — |
Cash and Equivalents | 2,329 |  |  | 2,329 |  |  | — |  |  | — |
Other | 284 |  |  | — |  |  | 284 |  |  | — |
| $ | 101,916 |  |  | $ | 81,013 |  |  | $ | 20,903 |  |  | $ | — |
Net Periodic Benefit Cost |
Defined Benefit Plan Disclosure [Line Items] |
Pretax Amounts Recognized in Accumulated Other Comprehensive Income (Loss) | The pretax change recognized in Accumulated other comprehensive income (loss) in 2015 is as follows:
| Pension Benefits |  | Other Benefits
| U.S. |  | Non-U.S. |  |
| (In thousands)
Net gain (loss) in current year | $ | (2,483 | ) |  | $ | 6,000 |  |  | $ | 2,967 |
Prior service cost | (113 | ) |  | — |  |  | — |
Amortization of prior service cost (credit) | 64 |  |  | (15 | ) |  | (365 | )
Amortization of net loss | 3,359 |  |  | 1,946 |  |  | (48 | )
Exchange rate effect on amounts in OCI | — |  |  | 2,012 |  |  | (67 | )
Total | $ | 827 |  |  | $ | 9,943 |  |  | $ | 2,487 |
Pension Plans |
Defined Benefit Plan Disclosure [Line Items] |
Components of Net Periodic Benefit Cost for Defined Benefit Plans and Other Postretirement Plans | The components of, and the weighted average assumptions used to determine, the net periodic benefit cost for the plans in 2015, 2014 and 2013 are as follows:
| Pension Benefits
| 2015 |  | 2014 |  | 2013
| U.S. |  | Non-U.S. |  | U.S. |  | Non-U.S. |  | U.S. |  | Non-U.S.
| (In thousands)
Service cost | $ | 1,279 |  |  | $ | 1,506 |  |  | $ | 1,162 |  |  | $ | 1,331 |  |  | $ | 1,526 |  |  | $ | 1,388 |
Interest cost | 3,770 |  |  | 1,734 |  |  | 4,037 |  |  | 2,345 |  |  | 3,766 |  |  | 2,146 |
Expected return on plan assets | (4,910 | ) |  | (1,114 | ) |  | (5,430 | ) |  | (1,297 | ) |  | (5,318 | ) |  | (1,055 | )
Net amortization | 3,422 |  |  | 1,931 |  |  | 2,187 |  |  | 1,400 |  |  | 7,621 |  |  | 955 |
Net periodic benefit cost | $ | 3,561 |  |  | $ | 4,057 |  |  | $ | 1,956 |  |  | $ | 3,779 |  |  | $ | 7,595 |  |  | $ | 3,434 |
Other Postretirement Benefit Plans |
Defined Benefit Plan Disclosure [Line Items] |
Components of Net Periodic Benefit Cost for Defined Benefit Plans and Other Postretirement Plans |
| Other Benefits
| 2015 |  | 2014 |  | 2013
| (In thousands)
Service cost | $ | 673 |  |  | $ | 714 |  |  | $ | 968 |
Interest cost | 833 |  |  | 932 |  |  | 906 |
Net amortization | (414 | ) |  | (474 | ) |  | 24 |
Net periodic benefit cost | $ | 1,092 |  |  | $ | 1,172 |  |  | $ | 1,898 |

X
- Definition Schedule Of Pension Plan Weighted Average Asset Allocations [Table Text Block] + References No definition available. + Details
Name: | iex_ScheduleOfPensionPlanWeightedAverageAssetAllocationsTableTextBlock
Namespace Prefix: | iex_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Schedule Of Weighted Average Assumptions Used To Determine Net Periodic Benefit Cost [Table Text Block] + References No definition available. + Details
Name: | iex_ScheduleOfWeightedAverageAssumptionsUsedToDetermineNetPeriodicBenefitCostTableTextBlock
Namespace Prefix: | iex_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. + References No definition available. + Details
Name: | us-gaap_DefinedBenefitPlanDisclosureLineItems
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the major categories of plan assets of pension plans and/or other employee benefit plans. This information may include, but is not limited to, the target allocation of plan assets, the fair value of each major category of plan assets, and the level within the fair value hierarchy in which the fair value measurements fall. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (d)(5) -URI http://asc.fasb.org/extlink&oid=58740216&loc=d3e1928-114920 + Details
Name: | us-gaap_ScheduleOfAllocationOfPlanAssetsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the amounts related to pension plans and/or other employee benefit plans in accumulated other comprehensive income (loss) expected to be recognized as components of net periodic benefit cost over the next fiscal year, including the net gain (loss), net prior service cost or credit, and net transition asset or obligation. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (s) -URI http://asc.fasb.org/extlink&oid=58740216&loc=d3e1928-114920 + Details
Name: | us-gaap_ScheduleOfAmountsInAccumulatedOtherComprehensiveIncomeLossToBeRecognizedOverNextFiscalYearTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the net gain (loss) and net prior service cost or credit recognized in other comprehensive income (loss) for the period for pension plans and/or other employee benefit plans, and reclassification adjustments of other comprehensive income (loss) for the period, as those amounts, including amortization of the net transition asset or obligation, are recognized as components of net periodic benefit cost. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (i) -URI http://asc.fasb.org/extlink&oid=58740216&loc=d3e1928-114920 + Details
Name: | us-gaap_ScheduleOfAmountsRecognizedInOtherComprehensiveIncomeLossTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the assumptions used to determine for pension plans and/or other employee benefit plans the benefit obligation and net benefit cost, including assumed discount rates, rate increase in compensation increase, and expected long-term rates of return on plan assets. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (k) -URI http://asc.fasb.org/extlink&oid=58740216&loc=d3e1928-114920 + Details
Name: | us-gaap_ScheduleOfAssumptionsUsedTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of one or more of the entity's defined benefit pension plans or one or more other defined benefit postretirement plans, separately for pension plans and other postretirement benefit plans including the entity's schedule of fair value of plan assets for defined benefit or other postretirement plans. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=58740216&loc=d3e2439-114920 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=58740216&loc=d3e2417-114920 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=58740216&loc=d3e2410-114920 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 55 -Paragraph 17 -URI http://asc.fasb.org/extlink&oid=58242635&loc=d3e4179-114921 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=58740216&loc=d3e1928-114920 + Details
Name: | us-gaap_ScheduleOfDefinedBenefitPlansDisclosuresTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the components of net benefit costs for pension plans and/or other employee benefit plans including service cost, interest cost, expected return on plan assets, gain (loss), prior service cost or credit, transition asset or obligation, and gain (loss) recognized due to settlements or curtailments. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (h) -URI http://asc.fasb.org/extlink&oid=58740216&loc=d3e1928-114920 + Details
Name: | us-gaap_ScheduleOfNetBenefitCostsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Details
Name: | iex_NetPeriodicBenefitCostAxis=iex_NetPeriodicBenefitCostMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_DefinedBenefitPlansDisclosuresDefinedBenefitPlansAxis=us-gaap_PensionPlansDefinedBenefitMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_DefinedBenefitPlansDisclosuresDefinedBenefitPlansAxis=us-gaap_OtherPostretirementBenefitPlansDefinedBenefitMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |