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Business Segments (Tables) | 9 Months Ended
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Sep. 30, 2020
Segment Reporting [Abstract] |
Schedule of Information on Company's Business Segments | 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 sales, operating income and operating margin are the primary financial measures. 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,
| 2020 |  | 2019 |  | 2020 |  | 2019
Net sales |  |  |  |  |  |  |
Fluid & Metering Technologies |  |  |  |  |  |  |
External customers | $ | 220,553 |  |  | $ | 240,758 |  |  | $ | 666,187 |  |  | $ | 729,205 |
Intersegment sales | 194 |  |  | 103 |  |  | 533 |  |  | 367 |
Total segment sales | 220,747 |  |  | 240,861 |  |  | 666,720 |  |  | 729,572 |
Health & Science Technologies |  |  |  |  |  |  |
External customers | 219,671 |  |  | 228,988 |  |  | 658,361 |  |  | 685,848 |
Intersegment sales | 707 |  |  | 622 |  |  | 1,744 |  |  | 1,305 |
Total segment sales | 220,378 |  |  | 229,610 |  |  | 660,105 |  |  | 687,153 |
Fire & Safety/Diversified Products |  |  |  |  |  |  |
External customers | 140,889 |  |  | 154,500 |  |  | 412,276 |  |  | 473,523 |
Intersegment sales | 7 |  |  | 43 |  |  | 20 |  |  | 1,222 |
Total segment sales | 140,896 |  |  | 154,543 |  |  | 412,296 |  |  | 474,745 |
Intersegment elimination | (908) |  |  | (768) |  |  | (2,297) |  |  | (2,894) |
Total net sales | $ | 581,113 |  |  | $ | 624,246 |  |  | $ | 1,736,824 |  |  | $ | 1,888,576 |
Operating income |  |  |  |  |  |  |
Fluid & Metering Technologies | $ | 58,402 |  |  | $ | 77,481 |  |  | $ | 176,111 |  |  | $ | 223,493 |
Health & Science Technologies | 49,912 |  |  | 40,170 |  |  | 150,562 |  |  | 151,087 |
Fire & Safety/Diversified Products | 37,103 |  |  | 41,967 |  |  | 103,977 |  |  | 125,909 |
Corporate office | (14,204) |  |  | (17,853) |  |  | (48,902) |  |  | (55,659) |
Total operating income | 131,213 |  |  | 141,765 |  |  | 381,748 |  |  | 444,830 |
Interest expense | 10,642 |  |  | 11,330 |  |  | 33,958 |  |  | 33,262 |
Other (income) expense - net | (704) |  |  | 1,219 |  |  | 7,321 |  |  | 701 |
Income before income taxes | $ | 121,275 |  |  | $ | 129,216 |  |  | $ | 340,469 |  |  | $ | 410,867 |
| September 30, 2020 |  | December 31, 2019
Assets |  |  |
Fluid & Metering Technologies | $ | 1,327,303 |  |  | $ | 1,150,712 |
Health & Science Technologies | 1,535,745 |  |  | 1,507,108 |
Fire & Safety/Diversified Products | 838,747 |  |  | 825,398 |
Corporate office | 523,800 |  |  | 330,694 |
Total assets | $ | 4,225,595 |  |  | $ | 3,813,912 |

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- Definition Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8736-108599 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8813-108599 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8906-108599 + Details
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