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v3.22.4

Revenue (Tables) | 12 Months Ended
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Dec. 31, 2022
Revenue from Contract with Customer [Abstract] |
Schedule of Disaggregation of Revenue | Revenue by reporting unit for the years ended December 31, 2022, 2021 and 2020 was as follows:
| For the Year Ended December 31,
| 2022 |  | 2021 |  | 2020
| (In millions)
Pumps | $ | 396.5 |  |  | $ | 345.1 |  |  | $ | 265.3 |
Water | 307.8 |  |  | 255.3 |  |  | 225.3 |
Energy | 191.3 |  |  | 169.0 |  |  | 200.0 |
Agriculture | 152.8 |  |  | 107.4 |  |  | 87.1 |
Valves | 118.9 |  |  | 121.9 |  |  | 118.6 |
Intersegment elimination | (1.1) |  |  | (0.7) |  |  | (0.9) |
Fluid & Metering Technologies | 1,166.2 |  |  | 998.0 |  |  | 895.4 |
Scientific Fluidics & Optics(1) | 639.0 |  |  | 508.0 |  |  | 415.8 |
Sealing Solutions | 266.0 |  |  | 264.2 |  |  | 207.6 |
Performance Pneumatic Technologies | 257.6 |  |  | 182.2 |  |  | 122.9 |
Material Processing Technologies | 138.1 |  |  | 134.5 |  |  | 120.0 |
Micropump | 38.5 |  |  | 32.9 |  |  | 29.7 |
Intersegment elimination | (2.4) |  |  | (2.8) |  |  | (2.6) |
Health & Science Technologies | 1,336.8 |  |  | 1,119.0 |  |  | 893.4 |
Fire & Safety | 400.1 |  |  | 377.5 |  |  | 376.3 |
Dispensing | 167.5 |  |  | 169.6 |  |  | 98.5 |
BAND-IT | 111.6 |  |  | 100.8 |  |  | 88.1 |
Intersegment elimination | (0.3) |  |  | (0.1) |  |  | (0.1) |
Fire & Safety/Diversified Products | 678.9 |  |  | 647.8 |  |  | 562.8 |
Total net sales | $ | 3,181.9 |  |  | $ | 2,764.8 |  |  | $ | 2,351.6 |
(1) The year ended December 31, 2022 includes the acceleration of $17.9 million of previously deferred revenue related to a customer’s decision to discontinue further investment in commercializing its COVID-19 testing application. See Note 15 for further detail.
Schedule of External Net Sales Disaggregated by Geography | Revenue by geographical region for the years ended December 31, 2022, 2021 and 2020 was as follows:
| For the Year Ended December 31, 2022
| FMT |  | HST |  | FSDP |  | IDEX
| (In millions)
U.S.(1) | $ | 660.8 |  |  | $ | 646.9 |  |  | $ | 343.3 |  |  | $ | 1,651.0 |
North America, excluding U.S. | 71.5 |  |  | 25.8 |  |  | 35.3 |  |  | 132.6 |
Europe(1) | 194.6 |  |  | 379.7 |  |  | 160.9 |  |  | 735.2 |
Asia | 157.8 |  |  | 261.3 |  |  | 104.2 |  |  | 523.3 |
Other (2) | 82.6 |  |  | 25.5 |  |  | 35.5 |  |  | 143.6 |
Intersegment elimination | (1.1) |  |  | (2.4) |  |  | (0.3) |  |  | (3.8) |
Total net sales | $ | 1,166.2 |  |  | $ | 1,336.8 |  |  | $ | 678.9 |  |  | $ | 3,181.9 |
| For the Year Ended December 31, 2021
| FMT |  | HST |  | FSDP |  | IDEX
| (In millions)
U.S. | $ | 532.9 |  |  | $ | 489.7 |  |  | $ | 317.0 |  |  | $ | 1,339.6 |
North America, excluding U.S. | 61.6 |  |  | 23.7 |  |  | 28.5 |  |  | 113.8 |
Europe | 197.2 |  |  | 341.0 |  |  | 161.5 |  |  | 699.7 |
Asia | 143.7 |  |  | 241.8 |  |  | 110.0 |  |  | 495.5 |
Other (2) | 63.3 |  |  | 25.6 |  |  | 30.9 |  |  | 119.8 |
Intersegment elimination | (0.7) |  |  | (2.8) |  |  | (0.1) |  |  | (3.6) |
Total net sales | $ | 998.0 |  |  | $ | 1,119.0 |  |  | $ | 647.8 |  |  | $ | 2,764.8 |
| For the Year Ended December 31, 2020
| FMT |  | HST |  | FSDP |  | IDEX
| (In millions)
U.S. | $ | 505.8 |  |  | $ | 387.6 |  |  | $ | 269.9 |  |  | $ | 1,163.3 |
North America, excluding U.S. | 52.8 |  |  | 21.3 |  |  | 23.2 |  |  | 97.3 |
Europe | 174.9 |  |  | 249.8 |  |  | 149.2 |  |  | 573.9 |
Asia | 109.1 |  |  | 221.2 |  |  | 94.2 |  |  | 424.5 |
Other (2) | 53.7 |  |  | 16.1 |  |  | 26.4 |  |  | 96.2 |
Intersegment elimination | (0.9) |  |  | (2.6) |  |  | (0.1) |  |  | (3.6) |
Total net sales | $ | 895.4 |  |  | $ | 893.4 |  |  | $ | 562.8 |  |  | $ | 2,351.6 |
(1) HST revenue includes the acceleration of $17.9 million of previously deferred revenue related to a customer’s decision to discontinue further investment in commercializing its COVID-19 testing application, of which $9.5 million was recognized in the U.S. and $8.4 million was recognized in Europe in the year ended December 31, 2022. See Note 15 for further detail. (2) Other includes: South America, Middle East, Australia and Africa.
Schedule of Contract with Customer, Asset and Liability | The composition of customer receivables was as follows:
| December 31, 2022 |  | December 31, 2021
| (In millions)
Billed receivables | $ | 421.3 |  |  | $ | 344.0 |
Unbilled receivables | 10.0 |  |  | 10.9 |
Total customer receivables | $ | 431.3 |  |  | $ | 354.9 |
Schedule of New Accounting Pronouncements and Changes in Accounting Principles | The composition of deferred revenue was as follows:
| December 31, 2022 |  | December 31, 2021
| (In millions)
Deferred revenue - current | $ | 44.7 |  |  | $ | 49.0 |
Deferred revenue - noncurrent | 15.0 |  |  | 32.2 |
Total deferred revenue(1) | $ | 59.7 |  |  | $ | 81.2 |
(1) The balance as of December 31, 2022 has been reduced by the acceleration of previously deferred revenue of $17.9 million related to a customer’s decision to discontinue further investment in commercializing its COVID-19 testing application. See Note 15 for further detail.

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- Definition Tabular disclosure of receivable, contract asset, and contract liability from contract with customer. Includes, but is not limited to, change in contract asset and contract liability. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 10 -URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130551-203045 + Details
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