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Business Segments | 3 Months Ended
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Mar. 31, 2024
Segment Reporting [Abstract] |
Business Segments | Business Segments IDEX has three reportable business segments: Fluid & Metering Technologies (“FMT”), Health & Science Technologies (“HST”) and Fire & Safety/Diversified Products (“FSDP”). When determining these reportable segments, the Company aggregated operating segments based on their similar economic and operating characteristics. Information on the Company’s business segments is presented below. The Company uses Adjusted EBITDA as its principal measure of segment performance. Intersegment sales are contracted with terms equivalent to those of an arm’s-length transaction.
|  |  | Three Months Ended March 31,
|  |  |  |  | 2024 |  | 2023
NET SALES |  |  |  |  |  |  |
Fluid & Metering Technologies |  |  |  |  |  |  |
External customers |  |  |  |  | $ | 313.5 |  |  | $ | 321.1 |
Intersegment sales |  |  |  |  | 0.2 |  |  | 0.7 |
Total segment sales |  |  |  |  | 313.7 |  |  | 321.8 |
Health & Science Technologies |  |  |  |  |  |  |
External customers |  |  |  |  | 309.4 |  |  | 350.3 |
Intersegment sales |  |  |  |  | 0.7 |  |  | 0.7 |
Total segment sales |  |  |  |  | 310.1 |  |  | 351.0 |
Fire & Safety/Diversified Products |  |  |  |  |  |  |
External customers |  |  |  |  | 177.6 |  |  | 174.0 |
Intersegment sales |  |  |  |  | 0.4 |  |  | 0.4 |
Total segment sales |  |  |  |  | 178.0 |  |  | 174.4 |
Intersegment eliminations |  |  |  |  | (1.3) |  |  | (1.8) |
Net sales |  |  |  |  | $ | 800.5 |  |  | $ | 845.4 |
ADJUSTED EBITDA |  |  |  |  |  |  |
Fluid & Metering Technologies |  |  |  |  | $ | 105.4 |  |  | $ | 106.2 |
Health & Science Technologies |  |  |  |  | 81.4 |  |  | 100.7 |
Fire & Safety/Diversified Products |  |  |  |  | 51.4 |  |  | 49.7 |
Segment Adjusted EBITDA |  |  |  |  | 238.2 |  |  | 256.6 |
Corporate and other(1) |  |  |  |  | (29.9) |  |  | (26.8) |
Adjusted EBITDA |  |  |  |  | 208.3 |  |  | 229.8 |
Interest expense - net |  |  |  |  | (9.4) |  |  | (13.1) |
Depreciation |  |  |  |  | (16.2) |  |  | (12.8) |
Amortization of intangible assets |  |  |  |  | (24.6) |  |  | (23.6) |
Fair value inventory step-up charges |  |  |  |  | (2.5) |  |  | — |
Restructuring expenses and asset impairments |  |  |  |  | (1.1) |  |  | (0.5) |
Income before income taxes |  |  |  |  | $ | 154.5 |  |  | $ | 179.8 |
(1) Corporate expenses that can be identified with a segment have been included in determining segment results. The remainder is included in Corporate and other.
| March 31, 2024 |  | December 31, 2023
ASSETS |  |  |
Fluid & Metering Technologies | $ | 1,702.6 |  |  | $ | 1,674.7 |
Health & Science Technologies | 3,193.6 |  |  | 3,262.4 |
Fire & Safety/Diversified Products | 804.3 |  |  | 792.6 |
Corporate and other | 188.9 |  |  | 135.5 |
Total assets | $ | 5,889.4 |  |  | $ | 5,865.2 |

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-22 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-15 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 31 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-31 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 42 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-42 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (f) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 40 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-40 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//280/tableOfContent Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 26 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-26 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 34 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-34 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 41 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-41 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-21 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-21 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 + Details
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