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Business Segments
 3 Months Ended
Mar. 31, 2025
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”).

The Company uses Adjusted EBITDA as its measure of segment performance. Intersegment sales are contracted with terms equivalent to those of an arm’s-length transaction. Information on the Company’s business segments is presented below.

Three Months Ended March 31, 2025
FMTHSTFSDPTotal SegmentsEliminationsIDEX
NET SALES
External customers$290.2 $340.1 $184.0 $814.3 $— $814.3 
Intersegment sales0.3 1.4 0.3 2.0 (2.0)— 
Net sales290.5 341.5 184.3 816.3 (2.0)814.3 
Adjusted segment cost of sales(1)
(146.3)(201.2)(99.9)(447.4)2.0 (445.4)
Other segment expenses(2)
(48.9)(52.9)(30.2)(132.0)
Segment Adjusted EBITDA$95.3 $87.4 $54.2 $236.9 

Three Months Ended March 31, 2024
FMTHSTFSDPTotal SegmentsEliminationsIDEX
NET SALES
External customers$313.5 $309.4 $177.6 $800.5 $— $800.5 
Intersegment sales0.2 0.7 0.4 1.3 (1.3)— 
Net sales313.7 310.1 178.0 801.8 (1.3)800.5 
Adjusted segment cost of sales(1)
(160.0)(184.3)(97.6)(441.9)1.3 (440.6)
Other segment expenses(2)
(48.3)(44.4)(29.0)(121.7)
Segment Adjusted EBITDA$105.4 $81.4 $51.4 $238.2 
(1) Adjusted segment cost of sales represents Cost of sales excluding fair value inventory step-up charges. There were no step-up charges recorded during the three months ended March 31, 2025. There were step-up charges of $2.5 million recorded within the HST segment during the three months ended March 31, 2024.

(2) Other segment expenses consists primarily of selling, general and administrative expenses.
Three Months Ended March 31,
20252024
ADJUSTED EBITDA
Fluid & Metering Technologies$95.3 $105.4 
Health & Science Technologies87.4 81.4 
Fire & Safety/Diversified Products54.2 51.4 
Segment Adjusted EBITDA236.9 238.2 
Corporate and other(1)
(28.9)(29.9)
Interest expense – net(16.1)(9.4)
Depreciation(2)
(18.4)(16.2)
Amortization of intangible assets(2)
(31.5)(24.6)
Fair value inventory step-up charges— (2.5)
Restructuring expenses and asset impairments(17.5)(1.1)
Income before income taxes$124.5 $154.5 

(1) Corporate expenses that can be identified with a segment have been included in determining segment results. The remainder are included in Corporate and other.

(2) Depreciation and amortization of intangible assets by segment for the three months ended March 31, 2025 and 2024 was:

Three Months Ended March 31,
20252024
DEPRECIATION
Fluid & Metering Technologies$4.4$4.3
Health & Science Technologies11.79.4
Fire & Safety/Diversified Products2.22.3
Total Segments18.316.0
Corporate and other0.10.2
Total depreciation$18.4$16.2
AMORTIZATION OF INTANGIBLE ASSETS
Fluid & Metering Technologies$5.3$5.3
Health & Science Technologies24.617.7
Fire & Safety/Diversified Products1.61.6
Total amortization $31.5$24.6


March 31, 2025December 31, 2024
ASSETS
Fluid & Metering Technologies$1,650.1 $1,609.4 
Health & Science Technologies4,185.5 4,142.6 
Fire & Safety/Diversified Products793.8 794.1 
Total Segments6,629.4 6,546.1 
Corporate and other165.7 199.2 
Total assets$6,795.1 $6,745.3