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Revenue (Tables) | 3 Months Ended
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Mar. 31, 2024
Revenue from Contract with Customer [Abstract] |
Schedule of Disaggregation of Revenue | Revenue by reporting unit for the three months ended March 31, 2024 and 2023 was as follows:
|  |  | Three Months Ended March 31, |  |
|  |  |  |  | 2024 |  | 2023 |  |  |  |
Pumps |  |  |  |  | $ | 101.9 |  |  | $ | 105.1 |  |  |  |  |
Water |  |  |  |  | 83.0 |  |  | 94.1 |  |  |  |  |
Energy |  |  |  |  | 52.6 |  |  | 50.7 |  |  |  |  |
Agriculture |  |  |  |  | 39.7 |  |  | 38.6 |  |  |  |  |
Valves |  |  |  |  | 36.5 |  |  | 33.3 |  |  |  |  |
Intersegment elimination |  |  |  |  | (0.2) |  |  | (0.7) |  |  |  |  |
Fluid & Metering Technologies |  |  |  |  | 313.5 |  |  | 321.1 |  |  |  |  |
Scientific Fluidics & Optics |  |  |  |  | 162.7 |  |  | 178.6 |  |  |  |  |
Sealing Solutions |  |  |  |  | 60.5 |  |  | 64.7 |  |  |  |  |
Performance Pneumatic Technologies |  |  |  |  | 57.5 |  |  | 69.4 |  |  |  |  |
Material Processing Technologies |  |  |  |  | 29.4 |  |  | 27.7 |  |  |  |  |
Micropump(1) |  |  |  |  | — |  |  | 10.6 |  |  |  |  |
Intersegment elimination |  |  |  |  | (0.7) |  |  | (0.7) |  |  |  |  |
Health & Science Technologies |  |  |  |  | 309.4 |  |  | 350.3 |  |  |  |  |
Fire & Safety |  |  |  |  | 105.1 |  |  | 106.2 |  |  |  |  |
Dispensing |  |  |  |  | 41.5 |  |  | 36.2 |  |  |  |  |
BAND-IT |  |  |  |  | 31.4 |  |  | 32.0 |  |  |  |  |
Intersegment elimination |  |  |  |  | (0.4) |  |  | (0.4) |  |  |  |  |
Fire & Safety/Diversified Products |  |  |  |  | 177.6 |  |  | 174.0 |  |  |  |  |
Net sales |  |  |  |  | $ | 800.5 |  |  | $ | 845.4 |  |  |  |  |
(1) Revenue from Micropump, Inc. (sold on August 3, 2023) has been included in the Condensed Consolidated Statements of Income through the date of disposition.
Schedule of External Net Sales Disaggregated by Geography | Revenue by geographical region for the three months ended March 31, 2024 and 2023 was as follows:
| Three Months Ended March 31, 2024
| FMT |  | HST |  | FSDP |  | IDEX
U.S. | $ | 172.6 |  |  | $ | 138.9 |  |  | $ | 86.1 |  |  | $ | 397.6 |
North America, excluding U.S. | 16.3 |  |  | 5.6 |  |  | 7.4 |  |  | 29.3 |
Europe | 58.8 |  |  | 104.1 |  |  | 45.0 |  |  | 207.9 |
Asia | 44.7 |  |  | 55.7 |  |  | 30.7 |  |  | 131.1 |
Other(1) | 21.3 |  |  | 5.8 |  |  | 8.8 |  |  | 35.9 |
Intersegment elimination | (0.2) |  |  | (0.7) |  |  | (0.4) |  |  | (1.3) |
Net sales | $ | 313.5 |  |  | $ | 309.4 |  |  | $ | 177.6 |  |  | $ | 800.5 |
| Three Months Ended March 31, 2023
| FMT |  | HST |  | FSDP |  | IDEX
U.S. | $ | 176.8 |  |  | $ | 149.6 |  |  | $ | 89.4 |  |  | $ | 415.8 |
North America, excluding U.S. | 19.4 |  |  | 5.2 |  |  | 8.5 |  |  | 33.1 |
Europe | 59.2 |  |  | 120.9 |  |  | 44.7 |  |  | 224.8 |
Asia | 45.1 |  |  | 66.6 |  |  | 23.4 |  |  | 135.1 |
Other(1) | 21.3 |  |  | 8.7 |  |  | 8.4 |  |  | 38.4 |
Intersegment elimination | (0.7) |  |  | (0.7) |  |  | (0.4) |  |  | (1.8) |
Net sales | $ | 321.1 |  |  | $ | 350.3 |  |  | $ | 174.0 |  |  | $ | 845.4 |
(1) 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:
| March 31, 2024 |  | December 31, 2023
Billed receivables | $ | 419.4 |  |  | $ | 408.1 |
Unbilled receivables | 9.7 |  |  | 10.9 |
Total customer receivables | $ | 429.1 |  |  | $ | 419.0 |
Schedule of New Accounting Pronouncements and Changes in Accounting Principles | The composition of deferred revenue was as follows:
| March 31, 2024 |  | December 31, 2023
Deferred revenue - current | $ | 62.4 |  |  | $ | 55.9 |
Deferred revenue - noncurrent | 17.9 |  |  | 17.3 |
Total deferred revenue | $ | 80.3 |  |  | $ | 73.2 |

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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 -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 10 -Publisher FASB -URI https://asc.fasb.org//1943274/2147479806/606-10-50-10 + Details
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