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Business Segments and Geographic Information
 12 Months Ended
Dec. 31, 2025
Segment Reporting [Abstract]  
Business Segments and Geographic Information Business Segments and Geographic Information
IDEX has three operating business segments, which are the same as our reportable business segments: HST, FMT and FSDP. The Company has determined its segments based on how financial information is reviewed by the chief operating decision maker (“CODM”) to analyze financial performance, make decisions and allocate resources.

The Company’s CODM is the Chief Executive Officer. The Company’s CODM evaluates the performance of the segments and allocates resources to them based on Adjusted EBITDA. Segment Adjusted EBITDA includes intersegment revenues as well as charges allocating certain corporate overhead costs. Intersegment sales are contracted with terms equivalent to those of an arm’s-length transaction. Adjusted EBITDA is the Company’s measure of segment performance.

For all segments, the CODM uses Adjusted EBITDA in the annual budgeting and forecasting process. The CODM considers Adjusted EBITDA budget and forecast-to-actual variances when making decisions about the allocation of operating and capital resources to each segment. Adjusted EBITDA is also used in determining the compensation of certain employees.
The HST segment designs, produces and distributes a wide range of precision fluidics, positive displacement pumps, powder and liquid processing technologies, drying systems, micro-precision components, pneumatic components and sealing solutions, high performance molded and extruded sealing components, custom mechanical and shaft seals, engineered hygienic mixers and valves, biocompatible medical devices and implantables, air compressors and blowers, optical components and coatings, ultra-precision diamond tools, laboratory and commercial equipment and precision photonic solutions, technical ceramics and hermetic sealing products and porous material structures and flow control solutions. HST primarily serves a variety of end markets, including life sciences, industrial, semiconductor, energy, space and defense and food and beverage.

The FMT segment designs, produces and distributes positive displacement pumps, valves, small volume provers, flow meters, injectors and other fluid-handling pump modules and systems and provides flow monitoring and other services. FMT primarily serves the industrial, water, energy, chemical and agriculture markets.

The FSDP segment designs, produces and distributes firefighting pumps, valves and controls, rescue tools, lifting bags and other components and systems, engineered stainless steel banding and clamping devices and precision equipment for dispensing, metering and mixing colorants and paints. FSDP primarily serves the fire suppression, paint dispensing, rescue tools, automotive and aviation and industrial markets.

Financial information for the Company’s reportable business segments is presented below:
For the Year Ended December 31, 2025
HSTFMTFSDPTotal SegmentsEliminationsIDEX
NET SALES
External customers$1,490.7 $1,222.5 $744.3 $3,457.5 $— $3,457.5 
Intersegment sales4.8 1.5 1.0 7.3 (7.3)— 
 Net sales1,495.5 1,224.0 745.3 3,464.8 (7.3)3,457.5 
Adjusted segment cost of sales(1)
(885.5)(622.8)(417.1)(1,925.4)7.3 (1,918.1)
Other segment expenses(2)
(212.2)(194.4)(114.7)(521.3)
Segment Adjusted EBITDA397.8 406.8 213.5 1,018.1 

For the Year Ended December 31, 2024
HSTFMTFSDPTotal SegmentsEliminationsIDEX
NET SALES
External customers$1,294.0 $1,231.8 $743.0 $3,268.8 $— $3,268.8 
Intersegment sales4.1 1.4 1.3 6.8 (6.8)— 
 Net sales1,298.1 1,233.2 744.3 3,275.6 (6.8)3,268.8 
Adjusted segment cost of sales(1)
(769.5)(639.4)(411.9)(1,820.8)6.8 (1,814.0)
Other segment expenses(2)
(181.8)(187.5)(118.2)(487.5)
Segment Adjusted EBITDA346.8 406.3 214.2 967.3 

For the Year Ended December 31, 2023
HSTFMTFSDPTotal SegmentsEliminationsIDEX
NET SALES
External customers$1,313.5 $1,244.2 $716.2 $3,273.9 $— $3,273.9 
Intersegment sales2.9 2.9 2.6 8.4 (8.4)— 
 Net sales1,316.4 1,247.1 718.8 3,282.3 (8.4)3,273.9 
Adjusted segment cost of sales(1)
(783.1)(650.1)(400.6)(1,833.8)8.4 (1,825.4)
Other segment expenses(2)
(173.8)(180.9)(109.6)(464.3)
Segment Adjusted EBITDA359.5 416.1 208.6 984.2 
(1) Adjusted segment cost of sales represents Cost of sales excluding fair value inventory step-up charges. There were step-up charges of $0.6 million, $9.6 million, and $1.6 million recorded during the years ended December 31, 2025, 2024 and 2023, respectively. All step-up charges were recorded within the HST segment.
(2) Other segment expenses consists primarily of selling, general and administrative expenses.

202520242023
ADJUSTED EBITDA
Health & Science Technologies $397.8 $346.8 $359.5 
Fluid & Metering Technologies 406.8 406.3 416.1 
Fire & Safety/Diversified Products213.5 214.2 208.6 
Segment Adjusted EBITDA1,018.1 967.3 984.2 
Corporate and other(1)
(92.2)(93.0)(84.6)
Interest expense - net(64.4)(44.5)(51.7)
Depreciation(75.8)(68.5)(57.2)
Amortization of intangible assets(130.7)(107.1)(94.9)
Fair value inventory step-up charges(0.6)(9.6)(1.6)
Restructuring expenses and asset impairments(20.7)(9.3)(10.9)
Gain on sale of businesses - net— 4.0 84.7 
Loss on sale of assets
(1.1)— — 
Credit loss on note receivable from collaborative partner(2)
— — (7.7)
Income before income taxes$632.6 $639.3 $760.3 

(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 a reserve recorded on an investment with a collaborative partner in Other expense (income) – 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.
202520242023
DEPRECIATION
Health & Science Technologies$47.9 $41.2 $33.2 
Fluid & Metering Technologies17.9 17.3 14.1 
Fire & Safety/Diversified Products9.2 9.0 8.9 
Total Segments75.0 67.5 56.2 
Corporate and other0.8 1.0 1.0 
Total depreciation$75.8 $68.5 $57.2 
AMORTIZATION OF INTANGIBLE ASSETS
Health & Science Technologies$103.7 $79.7 $65.8 
Fluid & Metering Technologies21.6 21.1 22.7 
Fire & Safety/Diversified Products5.4 6.3 6.4 
Total amortization$130.7 $107.1 $94.9 
CAPITAL EXPENDITURES
Health & Science Technologies$32.9 $40.1 $55.1 
Fluid & Metering Technologies21.3 14.8 24.2 
Fire & Safety/Diversified Products8.9 10.2 9.7 
Total Segments63.1 65.1 89.0 
Corporate and other0.5 — 0.9 
Total capital expenditures$63.6 $65.1 $89.9 
December 31, 2025December 31, 2024
ASSETS
Health & Science Technologies$4,301.1 $4,142.6 
Fluid & Metering Technologies1,694.4 1,609.4 
Fire & Safety/Diversified Products825.2 794.1 
Total Segments6,820.7 6,546.1 
Corporate and other106.3 199.2 
Total assets$6,927.0 $6,745.3 

Information about the Company’s long-lived assets in different geographical regions as of December 31, 2025 and 2024 is shown below.
December 31, 2025December 31, 2024
LONG-LIVED ASSETS — PROPERTY, PLANT AND EQUIPMENT
U.S.$273.6 $271.7 
North America, excluding U.S.19.2 20.6 
Netherlands
50.2 51.4 
Europe, excluding Netherlands
83.6 71.6 
Asia41.1 44.7 
Other(1)
0.3 0.4 
Total long-lived assets - net$468.0 $460.4 

(1) Other includes: South America, Middle East, Australia and Africa.