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Revenue (Tables) | 12 Months Ended
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Dec. 31, 2023
Revenue from Contract with Customer [Abstract] |
Schedule of Disaggregation of Revenue | Revenue by reporting unit for the years ended December 31, 2023, 2022 and 2021 was as follows:
| For the Year Ended December 31,
| 2023 |  | 2022 |  | 2021
Pumps | $ | 402.9 |  |  | $ | 396.5 |  |  | $ | 345.1 |
Water | 345.8 |  |  | 307.8 |  |  | 255.3 |
Energy | 209.3 |  |  | 191.3 |  |  | 169.0 |
Agriculture | 159.6 |  |  | 152.8 |  |  | 107.4 |
Valves | 129.5 |  |  | 118.9 |  |  | 121.9 |
Intersegment elimination | (2.9) |  |  | (1.1) |  |  | (0.7) |
Fluid & Metering Technologies | 1,244.2 |  |  | 1,166.2 |  |  | 998.0 |
Scientific Fluidics & Optics(1) | 681.5 |  |  | 639.0 |  |  | 508.0 |
Performance Pneumatic Technologies | 250.0 |  |  | 257.6 |  |  | 182.2 |
Sealing Solutions | 242.3 |  |  | 266.0 |  |  | 264.2 |
Material Processing Technologies | 120.7 |  |  | 138.1 |  |  | 134.5 |
Micropump(2) | 21.9 |  |  | 38.5 |  |  | 32.9 |
Intersegment elimination | (2.9) |  |  | (2.4) |  |  | (2.8) |
Health & Science Technologies | 1,313.5 |  |  | 1,336.8 |  |  | 1,119.0 |
Fire & Safety | 431.9 |  |  | 400.1 |  |  | 377.5 |
Dispensing | 167.5 |  |  | 167.5 |  |  | 169.6 |
BAND-IT | 119.4 |  |  | 111.6 |  |  | 100.8 |
Intersegment elimination | (2.6) |  |  | (0.3) |  |  | (0.1) |
Fire & Safety/Diversified Products | 716.2 |  |  | 678.9 |  |  | 647.8 |
Total net sales | $ | 3,273.9 |  |  | $ | 3,181.9 |  |  | $ | 2,764.8 |
(1) The year ended December 31, 2022 includes the acceleration of previously deferred revenue of $17.9 million as a result of a customer’s decision to discontinue further investment in commercializing its COVID-19 testing application. See Note 14 for further detail. (2) Revenue from Micropump (sold on August 3, 2023) has been included in the Company’s Consolidated Statements of Income through the date of disposition. See Note 2 for further detail.
Schedule of External Net Sales Disaggregated by Geography | Revenue by geographical region for the years ended December 31, 2023, 2022 and 2021 was as follows:
| For the Year Ended December 31, 2023
| FMT |  | HST |  | FSDP |  | IDEX
U.S. | $ | 695.7 |  |  | $ | 575.5 |  |  | $ | 371.9 |  |  | $ | 1,643.1 |
North America, excluding U.S. | 70.3 |  |  | 22.6 |  |  | 33.4 |  |  | 126.3 |
Europe | 213.8 |  |  | 439.9 |  |  | 166.7 |  |  | 820.4 |
Asia | 177.6 |  |  | 249.4 |  |  | 108.5 |  |  | 535.5 |
Other(1) | 89.7 |  |  | 29.0 |  |  | 38.3 |  |  | 157.0 |
Intersegment elimination | (2.9) |  |  | (2.9) |  |  | (2.6) |  |  | (8.4) |
Total net sales | $ | 1,244.2 |  |  | $ | 1,313.5 |  |  | $ | 716.2 |  |  | $ | 3,273.9 |
| For the Year Ended December 31, 2022
| FMT |  | HST |  | FSDP |  | IDEX
U.S.(2) | $ | 660.8 |  |  | $ | 646.9 |  |  | $ | 343.3 |  |  | $ | 1,651.0 |
North America, excluding U.S. | 71.5 |  |  | 25.8 |  |  | 35.3 |  |  | 132.6 |
Europe(2) | 194.6 |  |  | 379.7 |  |  | 160.9 |  |  | 735.2 |
Asia | 157.8 |  |  | 261.3 |  |  | 104.2 |  |  | 523.3 |
Other(1) | 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
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(1) | 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 |
(1) Other includes: South America, Middle East, Australia and Africa. (2) The HST segment includes the acceleration of $17.9 million of previously deferred revenue as a result of 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 14 for further detail.
Schedule of Contract with Customer, Asset and Liability | The composition of customer receivables was as follows:
| December 31, 2023 |  | December 31, 2022
Billed receivables | $ | 408.1 |  |  | $ | 421.3 |
Unbilled receivables | 10.9 |  |  | 10.0 |
Total customer receivables | $ | 419.0 |  |  | $ | 431.3 |
Schedule of New Accounting Pronouncements and Changes in Accounting Principles | The composition of deferred revenue was as follows:
| December 31, 2023 |  | December 31, 2022
Deferred revenue - current | $ | 55.9 |  |  | $ | 44.7 |
Deferred revenue - noncurrent | 17.3 |  |  | 15.0 |
Total deferred revenue | $ | 73.2 |  |  | $ | 59.7 |

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