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Business Segments and Geographic Information (Tables) | 12 Months Ended
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Dec. 31, 2024
Segment Reporting [Abstract] |
Schedule of Information on Company's Business Segments | Financial information for the Company’s reportable business segments is presented below.
| For the Year Ended December 31, 2024
| FMT |  | HST |  | FSDP |  | Total Segments |  | Eliminations |  | IDEX
NET SALES |  |  |  |  |  |  |  |  |  |  |
External customers | $ | 1,231.8 |  |  | $ | 1,294.0 |  |  | $ | 743.0 |  |  | $ | 3,268.8 |  |  | $ | — |  |  | $ | 3,268.8 |
Intersegment sales | 1.4 |  |  | 4.1 |  |  | 1.3 |  |  | 6.8 |  |  | (6.8) |  |  | — |
Net sales | 1,233.2 |  |  | 1,298.1 |  |  | 744.3 |  |  | 3,275.6 |  |  | (6.8) |  |  | 3,268.8 |
Adjusted segment cost of sales(1) | (639.4) |  |  | (769.5) |  |  | (411.9) |  |  | (1,820.8) |  |  | 6.8 |  |  | (1,814.0) |
Other segment expenses(2) | (187.5) |  |  | (181.8) |  |  | (118.2) |  |  | (487.5) |  |  |  |  |
Segment Adjusted EBITDA | 406.3 |  |  | 346.8 |  |  | 214.2 |  |  | 967.3 |  |  |  |  |
| For the Year Ended December 31, 2023
| FMT |  | HST |  | FSDP |  | Total Segments |  | Eliminations |  | IDEX
NET SALES |  |  |  |  |  |  |  |  |  |  |
External customers | $ | 1,244.2 |  |  | $ | 1,313.5 |  |  | $ | 716.2 |  |  | $ | 3,273.9 |  |  | $ | — |  |  | $ | 3,273.9 |
Intersegment sales | 2.9 |  |  | 2.9 |  |  | 2.6 |  |  | 8.4 |  |  | (8.4) |  |  | — |
Net sales | 1,247.1 |  |  | 1,316.4 |  |  | 718.8 |  |  | 3,282.3 |  |  | (8.4) |  |  | 3,273.9 |
Adjusted segment cost of sales(1) | (650.1) |  |  | (783.1) |  |  | (400.6) |  |  | (1,833.8) |  |  | 8.4 |  |  | (1,825.4) |
Other segment expenses(2) | (180.9) |  |  | (173.8) |  |  | (109.6) |  |  | (464.3) |  |  |  |  |
Segment Adjusted EBITDA | 416.1 |  |  | 359.5 |  |  | 208.6 |  |  | 984.2 |  |  |  |  |
| For the Year Ended December 31, 2022
| FMT |  | HST |  | FSDP |  | Total Segments |  | Eliminations |  | IDEX
NET SALES |  |  |  |  |  |  |  |  |  |  |
External customers | $ | 1,166.2 |  |  | $ | 1,336.8 |  |  | $ | 678.9 |  |  | $ | 3,181.9 |  |  | $ | — |  |  | $ | 3,181.9 |
Intersegment sales | 1.1 |  |  | 2.4 |  |  | 0.3 |  |  | 3.8 |  |  | (3.8) |  |  | — |
Net sales | 1,167.3 |  |  | 1,339.2 |  |  | 679.2 |  |  | 3,185.7 |  |  | (3.8) |  |  | 3,181.9 |
Adjusted segment cost of sales(1) | (623.3) |  |  | (738.9) |  |  | (388.1) |  |  | (1,750.3) |  |  | 3.8 |  |  | (1,746.5) |
Other segment expenses(2) | (169.8) |  |  | (188.5) |  |  | (107.2) |  |  | (465.5) |  |  |  |  |
Segment Adjusted EBITDA | 374.2 |  |  | 411.8 |  |  | 183.9 |  |  | 969.9 |  |  |  |  |
(1) Adjusted segment cost of sales represents Cost of sales excluding fair value inventory step-up charges. (2) Other segment expenses consists primarily of selling, general and administrative expenses.
| 2024 |  | 2023 |  | 2022
ADJUSTED EBITDA |  |  |  |  |
Fluid & Metering Technologies | $ | 406.3 |  |  | $ | 416.1 |  |  | $ | 374.2 |
Health & Science Technologies | 346.8 |  |  | 359.5 |  |  | 411.8 |
Fire & Safety/Diversified Products | 214.2 |  |  | 208.6 |  |  | 183.9 |
Segment Adjusted EBITDA | 967.3 |  |  | 984.2 |  |  | 969.9 |
Corporate and other(1) | (93.0) |  |  | (84.6) |  |  | (85.7) |
Interest expense - net | (44.5) |  |  | (51.7) |  |  | (40.7) |
Depreciation | (68.5) |  |  | (57.2) |  |  | (50.7) |
Amortization of intangible assets | (107.1) |  |  | (94.9) |  |  | (69.0) |
Fair value inventory step-up charges | (9.6) |  |  | (1.6) |  |  | (8.5) |
Restructuring expenses and asset impairments | (9.3) |  |  | (10.9) |  |  | (4.5) |
Net impact from the exit of a COVID-19 testing application(2) | — |  |  | — |  |  | 1.1 |
Gain on sale of businesses - net | 4.0 |  |  | 84.7 |  |  | 34.8 |
Gains on sales of assets | — |  |  | — |  |  | 2.7 |
Credit loss on note receivable from collaborative partner(3) | — |  |  | (7.7) |  |  | — |
Income before income taxes | $ | 639.3 |  |  | $ | 760.3 |  |  | $ | 749.4 |
(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. (2) Represents the acceleration of previously deferred revenue of $17.9 million, net of an impairment charge of $16.8 million as a result of a customer’s decision to discontinue further investment in commercializing its COVID-19 testing application in the HST segment in 2022 that did not reoccur in 2023 or 2024. See Note 14, “Restructuring Expenses and Asset Impairments,” for further detail. (3) Represents a reserve recorded on an investment with a collaborative partner in Other (income) expense – net during 2023. During the fourth quarter of 2023, the Company converted the promissory note receivable from the collaborative partner to equity, resulting in a cost method investment with zero value. See Note 3, “Collaborative Investments,” for further detail.
| 2024 |  | 2023 |  | 2022
DEPRECIATION |  |  |  |  |
Fluid & Metering Technologies | $ | 17.3 |  |  | $ | 14.1 |  |  | $ | 16.1 |
Health & Science Technologies | 41.2 |  |  | 33.2 |  |  | 25.7 |
Fire & Safety/Diversified Products | 9.0 |  |  | 8.9 |  |  | 8.4 |
Total Segments | 67.5 |  |  | 56.2 |  |  | 50.2 |
Corporate and other | 1.0 |  |  | 1.0 |  |  | 0.5 |
Total depreciation | $ | 68.5 |  |  | $ | 57.2 |  |  | $ | 50.7 |
AMORTIZATION OF INTANGIBLE ASSETS |  |  |  |  |
Fluid & Metering Technologies | $ | 21.1 |  |  | $ | 22.7 |  |  | $ | 20.8 |
Health & Science Technologies | 79.7 |  |  | 65.8 |  |  | 41.6 |
Fire & Safety/Diversified Products | 6.3 |  |  | 6.4 |  |  | 6.6 |
Total amortization | $ | 107.1 |  |  | $ | 94.9 |  |  | $ | 69.0 |
CAPITAL EXPENDITURES |  |  |  |  |
Fluid & Metering Technologies | $ | 14.8 |  |  | $ | 24.2 |  |  | $ | 25.3 |
Health & Science Technologies | 40.1 |  |  | 55.1 |  |  | 32.0 |
Fire & Safety/Diversified Products | 10.2 |  |  | 9.7 |  |  | 10.5 |
Total Segments | 65.1 |  |  | 89.0 |  |  | 67.8 |
Corporate and other | — |  |  | 0.9 |  |  | 0.2 |
Total capital expenditures | $ | 65.1 |  |  | $ | 89.9 |  |  | $ | 68.0 |
| December 31, 2024 |  | December 31, 2023
ASSETS |  |  |
Fluid & Metering Technologies | $ | 1,609.4 |  |  | $ | 1,674.7 |
Health & Science Technologies | 4,142.6 |  |  | 3,262.4 |
Fire & Safety/Diversified Products | 794.1 |  |  | 792.6 |
Total Segments | 6,546.1 |  |  | 5,729.7 |
Corporate and other | 199.2 |  |  | 135.5 |
Total assets | $ | 6,745.3 |  |  | $ | 5,865.2 |
Schedule of Sales From External Customers and Long-Lived Assets | Information about the Company’s long-lived assets in different geographical regions as of December 31, 2024 and 2023 is shown below.
| December 31, 2024 |  | December 31, 2023
LONG-LIVED ASSETS — PROPERTY, PLANT AND EQUIPMENT |  |  |
U.S. | $ | 271.7 |  |  | $ | 219.2 |
North America, excluding U.S. | 20.6 |  |  | 24.0 |
Netherlands | 51.4 |  |  | 61.5 |
Europe, excluding Netherlands | 71.6 |  |  | 76.9 |
Asia | 44.7 |  |  | 48.3 |
Other(1) | 0.4 |  |  | 0.4 |
Total long-lived assets - net | $ | 460.4 |  |  | $ | 430.3 |
(1) Other includes: South America, Middle East, Australia and Africa.

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- Definition Tabular disclosure of information concerning material long-lived assets (excluding financial instruments, customer relationships with financial institutions, mortgage and other servicing rights, deferred policy acquisition costs, and deferred taxes assets) located in identified geographic areas and/or the amount of revenue from external customers attributed to that country from which revenue is material. An entity may also provide subtotals of geographic information about groups of countries. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 220 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03(1)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147483621/220-10-S99-2 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-41 + Details
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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 -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-25 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-22 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-30 + Details
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