AMETEK (AME) 10-Q 5 Nov 15 2015 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2015	Oct. 28, 2015
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2015
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	Q3
Trading Symbol	AME
Entity Registrant Name	AMETEK INC/
Entity Central Index Key	1,037,868
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		237,882,582

Consolidated Statement of Incom

Consolidated Statement of Income - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Income Statement [Abstract]
Net sales	$ 998,527	$ 1,031,811	$ 2,986,312	$ 2,997,821
Operating expenses:
Cost of sales, excluding depreciation	631,790	677,739	1,901,680	1,933,554
Selling, general and administrative	112,116	119,205	335,702	345,146
Depreciation	17,006	16,724	50,044	47,619
Total operating expenses	760,912	813,668	2,287,426	2,326,319
Operating income	237,615	218,143	698,886	671,502
Other expenses:
Interest expense	(23,684)	(19,543)	(69,048)	(57,362)
Other, net	(2,325)	(8,639)	(6,298)	(16,842)
Income before income taxes	211,606	189,961	623,540	597,298
Provision for income taxes	55,208	48,150	169,522	164,838
Net income	$ 156,398	$ 141,811	$ 454,018	$ 432,460
Basic earnings per share	$ 0.65	$ 0.58	$ 1.89	$ 1.76
Diluted earnings per share	$ 0.65	$ 0.57	$ 1.87	$ 1.75
Weighted average common shares outstanding:
Basic shares	239,959	245,439	240,801	245,184
Diluted shares	241,238	247,643	242,552	247,425
Dividends declared and paid per share	$ 0.09	$ 0.09	$ 0.27	$ 0.24

Consolidated Statement of Compr

Consolidated Statement of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Statement of Comprehensive Income [Abstract]
Total comprehensive income	$ 119,704	$ 58,400	$ 371,699	$ 356,228

Consolidated Balance Sheet

Consolidated Balance Sheet - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Current assets:
Cash and cash equivalents	$ 328,034	$ 377,615
Receivables, less allowance for possible losses	610,019	585,462
Inventories, net	541,994	495,896
Deferred income taxes	40,231	45,053
Other current assets	70,462	74,578
Total current assets	1,590,740	1,578,604
Property, plant and equipment, net	483,029	448,446
Goodwill	2,722,871	2,614,030
Other intangibles, net of accumulated amortization	1,699,252	1,625,561
Investments and other assets	148,132	154,322
Total assets	6,644,024	6,420,963
Current liabilities:
Short-term borrowings and current portion of long-term debt	295,259	286,201
Accounts payable	375,187	386,207
Income taxes payable	20,671	27,157
Accrued liabilities	234,360	236,579
Total current liabilities	925,477	936,144
Long-term debt	1,621,812	1,427,825
Deferred income taxes	627,376	618,385
Other long-term liabilities	154,090	199,048
Total liabilities	3,328,755	3,181,402
Stockholders' equity:
Common stock	2,607	2,589
Capital in excess of par value	559,060	491,750
Retained earnings	3,859,394	3,469,923
Accumulated other comprehensive loss	(349,213)	(266,894)
Treasury stock	(756,579)	(457,807)
Total stockholders' equity	3,315,269	3,239,561
Total liabilities and stockholders' equity	$ 6,644,024	$ 6,420,963

Condensed Consolidated Statemen

Condensed Consolidated Statement of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
Operating activities:
Net income	$ 454,018	$ 432,460
Adjustments to reconcile net income to total operating activities:
Depreciation and amortization	110,031	102,800
Deferred income taxes	(5,200)	(346)
Share-based compensation expense	17,679	15,055
Gain on sale of facility		(869)
Net change in assets and liabilities, net of acquisitions	(51,570)	(32,720)
Pension contribution	(52,353)	(2,583)
Other	537	(1,143)
Total operating activities	473,142	512,654
Investing activities:
Additions to property, plant and equipment	(45,293)	(47,279)
Purchases of businesses, net of cash acquired	(356,466)	(573,647)
Proceeds from sale of facilities	421	950
Other	(558)	2,392
Total investing activities	(401,896)	(617,584)
Financing activities:
Net change in short-term borrowings	160,231	(262,943)
Additional long-term borrowings	200,000	500,000
Reduction in long-term borrowings	(146,890)	(533)
Repurchases of common stock	(306,525)	(1,885)
Cash dividends paid	(64,661)	(58,726)
Excess tax benefits from share-based payments	19,817	6,279
Proceeds from employee stock plans and other	36,909	11,743
Total financing activities	(101,119)	193,935
Effect of exchange rate changes on cash and cash equivalents	(19,708)	(14,595)
(Decrease) increase in cash and cash equivalents	(49,581)	74,410
Cash and cash equivalents:
As of January 1	377,615	295,203
As of September 30	$ 328,034	$ 369,613

Basis of Presentation

Basis of Presentation	9 Months Ended
	Sep. 30, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	1. Basis of Presentation The accompanying consolidated financial statements are unaudited. AMETEK, Inc. (the “Company”) believes that all adjustments (which primarily consist of normal recurring accruals) necessary for a fair presentation of the consolidated financial position of the Company at September 30, 2015, and the consolidated results of its operations for the three and nine months ended September 30, 2015 and 2014 and its cash flows for the nine months ended September 30, 2015 and 2014 have been included. Quarterly results of operations are not necessarily indicative of results for the full year. The accompanying consolidated financial statements should be read in conjunction with the consolidated financial statements and related notes presented in the Company’s Annual Report on Form 10-K

Recent Accounting Pronouncement

Recent Accounting Pronouncements	9 Months Ended
	Sep. 30, 2015
Accounting Changes and Error Corrections [Abstract]
Recent Accounting Pronouncements	2. Recent Accounting Pronouncements In April 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2014-08 , Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity (“ASU 2014-08”). 2014-08 ASU 2013-08 In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers (“ASU 2014-09”). ASU 2014-09 ASU 2014-09 ASU 2014-09 ASU 2014-09 ASU 2014-09 ASU 2014-09. ASU 2014-09 In February 2015, the FASB issued ASU No. 2015-02, Amendments to the Consolidation Analysis (“ASU 2015-02”). ASU 2015-02 ASU 2015-02 ASU 2014-02 ASU 2015-02 In April 2015, the FASB issued ASU No. 2015-03, Simplifying the Presentation of Debt Issuance Costs (“ASU 2015-03”). ASU 2015-03 ASU 2015-03 ASU 2015-03 In April 2015, the FASB issued ASU No. 2015-05 , Customer’s Accounting for Fees Paid in a Cloud Computing Arrangement (“ASU 2015-05”). ASU 2015-05 ASU 2015-05 In September 2015, the FASB issued ASU No. 2015-16, Simplifying the Accounting for Measurement-Period Adjustments (“ASU 2015-16”). ASU 2015-16 measurement-period ASU 2015-16 ASU 2015-16

Earnings Per Share

Earnings Per Share	9 Months Ended
	Sep. 30, 2015
Earnings Per Share [Abstract]
Earnings Per Share	3. Earnings Per Share The calculation of basic earnings per share is based on the weighted average number of common shares considered outstanding during the periods. The calculation of diluted earnings per share reflects the effect of all potentially dilutive securities (principally outstanding stock options and restricted stock grants). The number of weighted average shares used in the calculation of basic earnings per share and diluted earnings per share was as follows: Three Months Ended Nine Months Ended 2015 2014 2015 2014 (In thousands) Weighted average shares: Basic shares 239,959 245,439 240,801 245,184 Equity-based compensation plans 1,279 2,204 1,751 2,241 Diluted shares 241,238 247,643 242,552 247,425

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income (Loss)	9 Months Ended
	Sep. 30, 2015
Equity [Abstract]
Accumulated Other Comprehensive Income (Loss)	4. Accumulated Other Comprehensive Income (Loss) The components of accumulated other comprehensive income (loss) consisted of the following: Three Months Ended September 30, 2015 Three Months Ended September 30, 2014 Foreign Currency Items and Other Defined Benefit Pension Plans Total Foreign Currency Items and Defined Benefit Pension Plans Total (In thousands) Balance at the beginning of the period $ (173,373 ) $ (139,146 ) $ (312,519 ) $ 4,668 $ (62,728 ) $ (58,060 ) Other comprehensive income (loss) before reclassifications: Translation adjustments (34,410 ) — (34,410 ) (39,899 ) — (39,899 ) Change in long-term intercompany notes (780 ) — (780 ) (37,018 ) — (37,018 ) Net investment hedges (4,497 ) — (4,497 ) (11,021 ) — (11,021 ) Gross amounts reclassified from accumulated other comprehensive income (loss) — 2,160 2,160 — 1,030 1,030 Income tax benefit (expense) 1,575 (742 ) 833 3,857 (360 ) 3,497 Other comprehensive (loss) income, net of tax (38,112 ) 1,418 (36,694 ) (84,081 ) 670 (83,411 ) Balance at the end of the period $ (211,485 ) $ (137,728 ) $ (349,213 ) $ (79,413 ) $ (62,058 ) $ (141,471 ) Nine Months Ended September 30, 2015 Nine Months Ended September 30, 2014 Foreign Currency Items and Other Defined Benefit Pension Plans Total Foreign Currency Items and Defined Benefit Pension Plans Total (In thousands) Balance at the beginning of the period $ (124,912 ) $ (141,982 ) $ (266,894 ) $ (1,171 ) $ (64,068 ) $ (65,239 ) Other comprehensive income (loss) before reclassifications: Translation adjustments (41,066 ) — (41,066 ) (35,540 ) — (35,540 ) Change in long-term intercompany notes (40,825 ) — (40,825 ) (38,154 ) — (38,154 ) Net investment hedges (7,204 ) — (7,204 ) (6,997 ) — (6,997 ) Gross amounts reclassified from accumulated other comprehensive income (loss) — 6,480 6,480 — 3,092 3,092 Income tax benefit (expense) 2,522 (2,226 ) 296 2,449 (1,082 ) 1,367 Other comprehensive (loss) income, net of tax (86,573 ) 4,254 (82,319 ) (78,242 ) 2,010 (76,232 ) Balance at the end of the period $ (211,485 ) $ (137,728 ) $ (349,213 ) $ (79,413 ) $ (62,058 ) $ (141,471 ) Reclassifications for the amortization of defined benefit pension plans are included in Cost of sales, excluding depreciation in the consolidated statement of income. See Note 13 for further details.

Fair Value Measurements

Fair Value Measurements	9 Months Ended
	Sep. 30, 2015
Fair Value Disclosures [Abstract]
Fair Value Measurements	5. Fair Value Measurements Fair value is defined as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. The Company utilizes a valuation hierarchy for disclosure of the inputs to the valuations used to measure fair value. This hierarchy prioritizes the inputs into three broad levels as follows. Level 1 inputs are quoted prices (unadjusted) in active markets for identical assets or liabilities. Level 2 inputs are quoted prices for similar assets and liabilities in active markets or inputs that are observable for the asset or liability, either directly or indirectly through market corroboration, for substantially the full term of the financial instrument. Level 3 inputs are unobservable inputs based on the Company’s own assumptions used to measure assets and liabilities at fair value. A financial asset or liability’s classification within the hierarchy is determined based on the lowest level input that is significant to the fair value measurement. The following table provides the Company’s assets that are measured at fair value on a recurring basis as of September 30, 2015 and December 31, 2014, consistent with the fair value hierarchy: September 30, 2015 December 31, 2014 Fair Value Fair Value (In thousands) Fixed-income investments $ 8,487 $ 9,219 The fair value of fixed-income investments, which are valued as level 1 investments, was based on quoted market prices. The fixed-income investments are shown as a component of long-term assets on the consolidated balance sheet. For the nine months ended September 30, 2015, gains and losses on the investments noted above were not significant. No transfers between level 1 and level 2 investments occurred during the nine months ended September 30, 2015. Financial Instruments Cash, cash equivalents and fixed-income investments are recorded at fair value at September 30, 2015 and December 31, 2014 in the accompanying consolidated balance sheet. The following table provides the estimated fair values of the Company’s financial instrument liabilities, for which fair value is measured for disclosure purposes only, compared to the recorded amounts at September 30, 2015 and December 31, 2014: September 30, 2015 December 31, 2014 Recorded Amount Fair Value Recorded Amount Fair Value (In thousands) Short-term borrowings $ (257,300 ) $ (257,300 ) $ (88,100 ) $ (88,100 ) Long-term debt (including current portion) (1,659,771 ) (1,746,242 ) (1,625,926 ) (1,768,439 ) The fair value of short-term

Hedging Activities

Hedging Activities	9 Months Ended
	Sep. 30, 2015
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Hedging Activities	6. Hedging Activities The Company has designated certain foreign-currency-denominated long-term borrowings as hedges of the net investment in certain foreign operations. As of September 30, 2015, these net investment hedges included British-pound-denominated long-term debt. As of December 31, 2014, these net investment hedges included British-pound-denominated long-term debt and Euro-denominated At September 30, 2015 and December 31, 2014, the Company had $181.4 million and $186.7 million, respectively, of British-pound-denominated

Inventories

Inventories	9 Months Ended
	Sep. 30, 2015
Inventory Disclosure [Abstract]
Inventories	7. Inventories September 30, December 31, (In thousands) Finished goods and parts $ 81,853 $ 80,307 Work in process 115,358 94,298 Raw materials and purchased parts 344,783 321,291 Total inventories $ 541,994 $ 495,896

Acquisitions

Acquisitions	9 Months Ended
	Sep. 30, 2015
Business Combinations [Abstract]
Acquisitions	8. Acquisitions The Company spent $356.5 million in cash, net of cash acquired, to acquire Global Tubes in May 2015 and Surface Vision, formerly referred to as the Surface Inspection Systems Division of Cognex Corporation, in July 2015. Global Tubes is a manufacturer of high precision, small diameter metal tubing. Surface Vision develops and manufactures software-enabled vision systems used to inspect surfaces of continuously processed materials for flaws and defects. Global Tubes is part of AMETEK’s Electromechanical Group (“EMG”) and Surface Vision is part of AMETEK’s Electronic Instruments Group (“EIG”). The following table represents the preliminary allocation of the aggregate purchase price for the net assets of the above acquisitions based on their estimated fair values at acquisition (in millions): Property, plant and equipment $ 53.4 Goodwill 155.2 Other intangible assets 156.8 Deferred income taxes (25.4 ) Net working capital and other* 16.5 Total purchase price $ 356.5 * Includes $29.0 million in accounts receivable, whose fair value, contractual cash flows and expected cash flows are approximately equal. The amount allocated to goodwill is reflective of the benefits the Company expects to realize from the acquisitions as follows: Global Tubes’ metallurgical capabilities, processing capabilities and alloy ranges are complementary and expand the Company’s product offerings in highly engineered applications serving the aerospace, energy, power generation and medical markets. Surface Vision’s proprietary real-time image processing technology broadens the Company’s capabilities in the non-destructive process inspection market. The Company does not expect any of the goodwill recorded in connection with the Global Tubes acquisition to be tax deductible in future years. The Company expects approximately $67.8 million of the goodwill recorded in connection with the Surface Vision acquisition will be tax deductible in future years. At September 30, 2015, purchase price allocated to other intangible assets of $156.8 million consists of $20.6 million of indefinite-lived intangible trademarks and trade names, which are not subject to amortization. The remaining $136.2 million of other intangible assets consists of $85.1 million of customer relationships, which are being amortized over a period of 18 to 20 years, $13.1 million of trade names, which are being amortized over a period of two to 14 years and $38.0 million of purchased technology, which is being amortized over a period of 15 to 20 years. Amortization expense for each of the next five years for the 2015 acquisitions listed above is expected to approximate $8.0 million per year. The Company recognized $8.4 million in environmental liabilities related to the estimated costs to remediate known environmental issues at Global Tubes. The $8.4 million is included in net working capital and other in the table above. The Company is in the process of finalizing the measurement of certain tangible and intangible assets and liabilities for its 2015 acquisitions, including the environmental liabilities noted above, goodwill, customer relationships, trade names, purchased technology and the accounting for income taxes. The 2015 acquisitions noted above had an immaterial impact on reported net sales, net income and diluted earnings per share for the three and nine months ended September 30, 2015. Had the 2015 acquisitions been made at the beginning of 2015 or 2014, unaudited pro forma net sales, net income and diluted earnings per share for the three and nine months ended September 30, 2015 and 2014, respectively, would not have been materially different than the amounts reported. Pro forma results are not necessarily indicative of the results that would have occurred if the acquisitions had been completed at the beginning of 2015 or 2014.

Goodwill

Goodwill	9 Months Ended
	Sep. 30, 2015
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill	9. Goodwill The changes in the carrying amounts of goodwill by segment were as follows: Electronic Instruments Group Electro- mechanical Group Total (In millions) Balance at December 31, 2014 $ 1,646.7 $ 967.3 $ 2,614.0 Goodwill acquired 67.8 87.4 155.2 Purchase price allocation adjustments and other (3.8 ) — (3.8 ) Foreign currency translation adjustments (23.7 ) (18.8 ) (42.5 ) Balance at September 30, 2015 $ 1,687.0 $ 1,035.9 $ 2,722.9

Income Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2015
Income Tax Disclosure [Abstract]
Income Taxes	10. Income Taxes At September 30, 2015, the Company had gross unrecognized tax benefits of $62.3 million, of which $51.7 million, if recognized, would impact the effective tax rate. The following is a reconciliation of the liability for uncertain tax positions (in millions): Balance at December 31, 2014 $ 71.7 Additions for tax positions 10.7 Reductions for tax positions (20.1 ) Balance at September 30, 2015 $ 62.3 The Company recognizes interest and penalties accrued related to uncertain tax positions in income tax expense. The amounts recognized in income tax expense for interest and penalties during the three and nine months ended September 30, 2015 and 2014 were not significant.

Debt

Debt	9 Months Ended
	Sep. 30, 2015
Debt Disclosure [Abstract]
Debt	11. Debt In August 2015, the Company obtained the third funding of $150 million, consisting of $100 million in aggregate principal amount of 3.96% senior notes due August 2025 and $50 million in aggregate principal amount of 4.45% senior notes due August 2035 under the third quarter of 2014 private placement agreement. In June 2015, the Company obtained the second funding of $50 million in aggregate principal amount of 3.91% senior notes due June 2025 under the third quarter of 2014 private placement agreement. The first funding occurred in September 2014 for $500 million, consisting of $300 million in aggregate principal amount of 3.73% senior notes due September 2024, $100 million in aggregate principal amount of 3.83% senior notes due September 2026 and $100 million in aggregate principal amount of 3.98% senior notes due September 2029. The senior notes carry a weighted average interest rate of 3.88%. The senior notes are subject to certain customary covenants, including financial covenants that, among other things, require the Company to maintain certain debt to EBITDA (earnings before interest, income taxes, depreciation and amortization) and interest coverage ratios. The proceeds from the third funding of the senior notes were used to pay down senior notes that matured in the third quarter of 2015 described further below. The proceeds from the second funding of the senior notes were used to pay down domestic borrowings under the Company’s revolving credit facility. In the third quarter of 2015, the Company paid in full, at maturity, $90 million in aggregate principal amount of 6.59% private placement senior notes and 50 million Euro ($56.4 million) 3.94% senior note.

Share-Based Compensation

Share-Based Compensation	9 Months Ended
	Sep. 30, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Share-Based Compensation	12. Share-Based Compensation The fair value of each stock option grant is estimated on the date of grant using a Black-Scholes-Merton Black-Scholes-Merton Nine Months Ended September 30, 2015 Year Ended December 31, 2014 Expected volatility 22.3 % 23.9 % Expected term (years) 5.0 5.0 Risk-free interest rate 1.58 % 1.63 % Expected dividend yield 0.69 % 0.45 % Black-Scholes-Merton fair value per stock option granted $ 10.89 $ 12.21 Expected volatility is based on the historical volatility of the Company’s stock. The Company used historical exercise data to estimate the stock options’ expected term, which represents the period of time that the stock options granted are expected to be outstanding. Management anticipates that the future stock option holding periods will be similar to the historical stock option holding periods. The risk-free interest rate for periods within the contractual life of the stock option is based on the U.S. Treasury yield curve at the time of grant. Compensation expense recognized for all share-based awards is net of estimated forfeitures. The Company’s estimated forfeiture rates are based on its historical experience. Total share-based compensation expense was as follows: Three Months Ended Nine Months Ended September 30, 2015 2014 2015 2014 (In thousands) Stock option expense $ 2,279 $ 1,887 $ 8,466 $ 7,227 Restricted stock expense 3,321 2,860 9,213 7,828 Total pre-tax expense 5,600 4,747 17,679 15,055 Related tax benefit (1,779 ) (1,423 ) (5,805 ) (4,710 ) Reduction of net income $ 3,821 $ 3,324 $ 11,874 $ 10,345 Pre-tax share-based compensation expense is included in the consolidated statement of income in either Cost of sales, excluding depreciation or Selling, general and administrative expenses, depending on where the recipient’s cash compensation is reported. The following is a summary of the Company’s stock option activity and related information: Shares Weighted Price Weighted Life Aggregate Value (In thousands) (Years) (In millions) Outstanding at December 31, 2014 6,362 $ 31.47 Granted 1,326 52.30 Exercised (1,808 ) 20.66 Forfeited (115 ) 46.57 Expired (4 ) 48.89 Outstanding at September 30, 2015 5,761 $ 39.35 4.3 $ 75.5 Exercisable at September 30, 2015 2,984 $ 30.60 2.9 $ 65.0 The aggregate intrinsic value of stock options exercised during the nine months ended September 30, 2015 was $60.0 million. The total fair value of stock options vested during the nine months ended September 30, 2015 was $9.9 million. As of September 30, 2015, there was approximately $20.5 million of expected future pre-tax The following is a summary of the Company’s nonvested restricted stock activity and related information: Shares Weighted Average Grant Date Fair Value (In thousands) Nonvested restricted stock outstanding at December 31, 2014 1,105 $ 41.08 Granted 335 52.30 Vested (294 ) 33.40 Forfeited (58 ) 44.62 Nonvested restricted stock outstanding at September 30, 2015 1,088 $ 46.34 The total fair value of restricted stock vested during the nine months ended September 30, 2015 was $9.8 million. As of September 30, 2015, there was approximately $31.6 million of expected future pre-tax

Retirement and Pension Plans

Retirement and Pension Plans	9 Months Ended
	Sep. 30, 2015
Compensation and Retirement Disclosure [Abstract]
Retirement and Pension Plans	13. Retirement and Pension Plans The components of net periodic pension benefit expense (income) were as follows: Three Months Ended Nine Months Ended 2015 2014 2015 2014 (In thousands) Defined benefit plans: Service cost $ 1,831 $ 1,630 $ 5,380 $ 4,910 Interest cost 7,304 7,237 21,084 21,732 Expected return on plan assets (14,017 ) (12,582 ) (40,690 ) (37,749 ) Amortization of net actuarial loss and other 2,160 1,030 6,480 3,092 Pension income (2,722 ) (2,685 ) (7,746 ) (8,015 ) Other plans: Defined contribution plans 5,225 5,163 17,725 15,888 Foreign plans and other 1,230 1,397 3,716 4,169 Total other plans 6,455 6,560 21,441 20,057 Total net pension expense $ 3,733 $ 3,875 $ 13,695 $ 12,042 For the nine months ended September 30, 2015 and 2014, contributions to the Company’s defined benefit pension plans were $52.4 million and $2.6 million, respectively. The Company’s current estimate of 2015 contributions to its worldwide defined benefit pension plans is in line with the range disclosed in the Company’s Annual Report on Form 10-K

Product Warranties

Product Warranties	9 Months Ended
	Sep. 30, 2015
Guarantees [Abstract]
Product Warranties	14. Product Warranties The Company provides limited warranties in connection with the sale of its products. The warranty periods for products sold vary widely among the Company’s operations, but for the most part do not exceed one year. The Company calculates its warranty expense provision based on past warranty experience and adjustments are made periodically to reflect actual warranty expenses. Within the product warranty table below, the nine months ended September 30, 2014 has been adjusted to disclose gross accruals for warranties issued during the period and gross settlements made during the period to conform to the current period presentation. Changes in the accrued product warranty obligation were as follows: Nine Months Ended 2015 2014 (In thousands) Balance at the beginning of the period $ 29,764 $ 28,036 Accruals for warranties issued during the period 8,826 11,618 Settlements made during the period (13,798 ) (13,657 ) Warranty accruals related to acquired businesses and other during the period (1,672 ) 3,268 Balance at the end of the period $ 23,120 $ 29,265 Certain settlements of warranties made during the period were for specific nonrecurring warranty obligations. Product warranty obligations are reported as current liabilities in the consolidated balance sheet.

Contingencies

Contingencies	9 Months Ended
	Sep. 30, 2015
Commitments and Contingencies Disclosure [Abstract]
Contingencies	15. Contingencies Asbestos Litigation The Company (including its subsidiaries) has been named as a defendant, along with many other companies, in a number of asbestos-related lawsuits. Many of these lawsuits either relate to businesses which were acquired by the Company and do not involve products which were manufactured or sold by the Company or relate to previously owned businesses of the Company which are under new ownership. In connection with many of these lawsuits, the sellers or new owners of such businesses, as the case may be, have agreed to indemnify the Company against these claims (the “Indemnified Claims”). The Indemnified Claims have been tendered to, and are being defended by, such sellers and new owners. These sellers and new owners have met their obligations, in all respects, and the Company does not have any reason to believe such parties would fail to fulfill their obligations in the future; however, one of these companies filed for bankruptcy liquidation in 2007. To date, no judgments have been rendered against the Company as a result of any asbestos-related lawsuit. The Company believes it has strong defenses to the claims being asserted and intends to continue to vigorously defend itself in these matters. Environmental Matters Certain historic processes in the manufacture of products have resulted in environmentally hazardous waste by-products as defined by federal and state laws and regulations. At September 30, 2015, the Company is named a Potentially Responsible Party (“PRP”) at 14 non-AMETEK-owned former waste disposal or treatment sites (the “non-owned” sites). The Company is identified as a “de minimis” party in 13 of these sites based on the low volume of waste attributed to the Company relative to the amounts attributed to other named PRPs. In nine of these sites, the Company has reached a tentative agreement on the cost of the de minimis settlement to satisfy its obligation and is awaiting executed agreements. The tentatively agreed-to settlement amounts are fully reserved. In the other four sites, the Company is continuing to investigate the accuracy of the alleged volume attributed to the Company as estimated by the parties primarily responsible for remedial activity at the sites to establish an appropriate settlement amount. At the remaining site where the Company is a non-de minimis PRP, the Company is participating in the investigation and/or related required remediation as part of a PRP Group and reserves have been established sufficient to satisfy the Company’s expected obligations. The Company historically has resolved these issues within established reserve levels and reasonably expects this result will continue. In addition to these non-owned sites, the Company has an ongoing practice of providing reserves for probable remediation activities at certain of its current or previously owned manufacturing locations (the “owned” sites). For claims and proceedings against the Company with respect to other environmental matters, reserves are established once the Company has determined that a loss is probable and estimable. This estimate is refined as the Company moves through the various stages of investigation, risk assessment, feasibility study and corrective action processes. In certain instances, the Company has developed a range of estimates for such costs and has recorded a liability based on the low end of the range. It is reasonably possible that the actual cost of remediation of the individual sites could vary from the current estimates and the amounts accrued in the consolidated financial statements; however, the amounts of such variances are not expected to result in a material change to the consolidated financial statements. In estimating the Company’s liability for remediation, the Company also considers the likely proportionate share of the anticipated remediation expense and the ability of the other PRPs to fulfill their obligations. Total environmental reserves at September 30, 2015 and December 31, 2014 were $32.0 million and $26.6 million, respectively, for both non-owned and owned sites. For the nine months ended September 30, 2015, the Company recorded $9.2 million in reserves, of which $8.4 million was related to a 2015 business acquisition. These reserves relate to the estimated costs to remediate known environmental issues associated with the acquired business. Additionally, the Company spent $3.8 million on environmental matters for the nine months ended September 30, 2015. The Company’s reserves for environmental liabilities at September 30, 2015 and December 31, 2014 include reserves of $11.6 million and $11.7 million, respectively, for an owned site acquired in connection with the 2005 acquisition of HCC Industries (“HCC”). The Company is the designated performing party for the performance of remedial activities for one of several operating units making up a Superfund site in the San Gabriel Valley of California. The Company has obtained indemnifications and other financial assurances from the former owners of HCC related to the costs of the required remedial activities. At September 30, 2015, the Company had $10.0 million in receivables related to HCC for probable recoveries from third-party escrow funds and other committed third-party funds to support the required remediation. Also, the Company is indemnified by HCC’s former owners for approximately $19.0 million of additional costs. The Company has agreements with other former owners of certain of its acquired businesses, as well as new owners of previously owned businesses. Under certain of the agreements, the former or new owners retained, or assumed and agreed to indemnify the Company against, certain environmental and other liabilities under certain circumstances. The Company and some of these other parties also carry insurance coverage for some environmental matters. To date, these parties have met their obligations in all material respects. The Company believes it has established reserves which are sufficient to perform all known responsibilities under existing claims and consent orders. The Company has no reason to believe that other third parties would fail to perform their obligations in the future. In the opinion of management, based upon presently available information and past experience related to such matters, an adequate provision for probable costs has been made and the ultimate cost resulting from these actions is not expected to materially affect the consolidated results of operations, financial position or cash flows of the Company.

First Quarter of 2015 Restructu

First Quarter of 2015 Restructuring Charges	9 Months Ended
	Sep. 30, 2015
Restructuring and Related Activities [Abstract]
First Quarter of 2015 Restructuring Charges	16. First Quarter of 2015 Restructuring Charges During the first quarter of 2015, the Company recorded pre-tax restructuring charges totaling $15.9 million, which had the effect of reducing net income by $10.8 million ($0.04 per diluted share). The restructuring charges were reported in the consolidated statement of income as follows: $15.8 million in Cost of sales, excluding depreciation and $0.1 million in Selling, general and administrative expenses. The restructuring charges were reported in segment operating income as follows: $9.3 million in EIG, $6.5 million in EMG and $0.1 million in corporate administrative expenses. The restructuring costs primarily related to a reduction in workforce in response to the effects of a continued strong U.S. dollar and a weak global economy on certain of our businesses. The restructuring activities have been broadly implemented across the Company’s various businesses with all actions expected to be completed by the first half of 2016. Accrued liabilities in the Company’s consolidated balance sheet included amounts related to the first quarter of 2015 restructuring charges as follows (in millions): Balance at December 31, 2014 $ — Pre-tax charges 15.9 Utilization (8.2 ) Foreign currency translation and other 0.1 Balance at September 30, 2015 $ 7.8

Stockholders' Equity

Stockholders' Equity	9 Months Ended
	Sep. 30, 2015
Equity [Abstract]
Stockholders' Equity	17. Stockholders’ Equity On April 1, 2015, the Company’s Board of Directors approved an increase of $350 million in the authorization for repurchase of the Company’s common stock. For the nine months ended September 30, 2015, the Company repurchased approximately 5,576,000 shares of common stock for $306.5 million in cash under its share repurchase authorization. At September 30, 2015, $90.6 million was available under the Company’s Board of Directors authorization for future share repurchases. On November 4, 2015, the Company’s Board of Directors approved an increase of $350 million in the authorization for repurchase of the Company’s common stock.

Reportable Segments

Reportable Segments	9 Months Ended
	Sep. 30, 2015
Segment Reporting [Abstract]
Reportable Segments	18. Reportable Segments The Company has two reportable segments, Electronic Instruments Group and Electromechanical Group. The Company’s operating units are identified based on the existence of segment managers. Certain of the Company’s operating units have been aggregated for segment reporting purposes primarily on the basis of product type, production processes, distribution methods and similarity of economic characteristics. At September 30, 2015, there were no significant changes in identifiable assets of reportable segments from the amounts disclosed at December 31, 2014, other than those described in the acquisitions footnote (Note 8), nor were there any significant changes in the basis of segmentation or in the measurement of segment operating results. Operating information relating to the Company’s reportable segments for the three and nine months ended September 30, 2015 and 2014 can be found in the table included in Part I, Item 2. “Management’s Discussion and Analysis of Financial Condition and Results of Operations” of this Quarterly Report on Form 10-Q.

Recent Accounting Pronounceme24

Recent Accounting Pronouncements (Policies)	9 Months Ended
	Sep. 30, 2015
Accounting Changes and Error Corrections [Abstract]
Discontinued Operations and Disclosures of Disposals of Components of an Entity	In April 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2014-08 , Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity (“ASU 2014-08”). 2014-08 ASU 2013-08
Revenue from Contracts with Customers	In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers (“ASU 2014-09”). ASU 2014-09 ASU 2014-09 ASU 2014-09 ASU 2014-09 ASU 2014-09 ASU 2014-09. ASU 2014-09
Amendments to the Consolidation Analysis	In February 2015, the FASB issued ASU No. 2015-02, Amendments to the Consolidation Analysis (“ASU 2015-02”). ASU 2015-02 ASU 2015-02 ASU 2014-02 ASU 2015-02
Simplifying the Presentation of Debt Issuance Costs	In April 2015, the FASB issued ASU No. 2015-03, Simplifying the Presentation of Debt Issuance Costs (“ASU 2015-03”). ASU 2015-03 ASU 2015-03 ASU 2015-03
Customer's Accounting for Fees Paid in a Cloud Computing Arrangement	In April 2015, the FASB issued ASU No. 2015-05 , Customer’s Accounting for Fees Paid in a Cloud Computing Arrangement (“ASU 2015-05”). ASU 2015-05 ASU 2015-05
Simplifying the Accounting for Measurement-Period Adjustments	In September 2015, the FASB issued ASU No. 2015-16, Simplifying the Accounting for Measurement-Period Adjustments (“ASU 2015-16”). ASU 2015-16 ASU 2015-16 ASU 2015-16

Earnings Per Share (Tables)

Earnings Per Share (Tables)	9 Months Ended
	Sep. 30, 2015
Earnings Per Share [Abstract]
Number of Weighted Average Shares	The number of weighted average shares used in the calculation of basic earnings per share and diluted earnings per share was as follows: Three Months Ended Nine Months Ended 2015 2014 2015 2014 (In thousands) Weighted average shares: Basic shares 239,959 245,439 240,801 245,184 Equity-based compensation plans 1,279 2,204 1,751 2,241 Diluted shares 241,238 247,643 242,552 247,425

Accumulated Other Comprehensi26

Accumulated Other Comprehensive Income (Loss) (Tables)	9 Months Ended
	Sep. 30, 2015
Equity [Abstract]
Components of Accumulated Other Comprehensive Income (Loss)	The components of accumulated other comprehensive income (loss) consisted of the following: Three Months Ended September 30, 2015 Three Months Ended September 30, 2014 Foreign Currency Items and Other Defined Benefit Pension Plans Total Foreign Currency Items and Defined Benefit Pension Plans Total (In thousands) Balance at the beginning of the period $ (173,373 ) $ (139,146 ) $ (312,519 ) $ 4,668 $ (62,728 ) $ (58,060 ) Other comprehensive income (loss) before reclassifications: Translation adjustments (34,410 ) — (34,410 ) (39,899 ) — (39,899 ) Change in long-term intercompany notes (780 ) — (780 ) (37,018 ) — (37,018 ) Net investment hedges (4,497 ) — (4,497 ) (11,021 ) — (11,021 ) Gross amounts reclassified from accumulated other comprehensive income (loss) — 2,160 2,160 — 1,030 1,030 Income tax benefit (expense) 1,575 (742 ) 833 3,857 (360 ) 3,497 Other comprehensive (loss) income, net of tax (38,112 ) 1,418 (36,694 ) (84,081 ) 670 (83,411 ) Balance at the end of the period $ (211,485 ) $ (137,728 ) $ (349,213 ) $ (79,413 ) $ (62,058 ) $ (141,471 ) Nine Months Ended September 30, 2015 Nine Months Ended September 30, 2014 Foreign Currency Items and Other Defined Benefit Pension Plans Total Foreign Currency Items and Defined Benefit Pension Plans Total (In thousands) Balance at the beginning of the period $ (124,912 ) $ (141,982 ) $ (266,894 ) $ (1,171 ) $ (64,068 ) $ (65,239 ) Other comprehensive income (loss) before reclassifications: Translation adjustments (41,066 ) — (41,066 ) (35,540 ) — (35,540 ) Change in long-term intercompany notes (40,825 ) — (40,825 ) (38,154 ) — (38,154 ) Net investment hedges (7,204 ) — (7,204 ) (6,997 ) — (6,997 ) Gross amounts reclassified from accumulated other comprehensive income (loss) — 6,480 6,480 — 3,092 3,092 Income tax benefit (expense) 2,522 (2,226 ) 296 2,449 (1,082 ) 1,367 Other comprehensive (loss) income, net of tax (86,573 ) 4,254 (82,319 ) (78,242 ) 2,010 (76,232 ) Balance at the end of the period $ (211,485 ) $ (137,728 ) $ (349,213 ) $ (79,413 ) $ (62,058 ) $ (141,471 )

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
	Sep. 30, 2015
Fair Value Disclosures [Abstract]
Fair Value of Assets Measured on Recurring Basis	The following table provides the Company’s assets that are measured at fair value on a recurring basis as of September 30, 2015 and December 31, 2014, consistent with the fair value hierarchy: September 30, 2015 December 31, 2014 Fair Value Fair Value (In thousands) Fixed-income investments $ 8,487 $ 9,219
Fair Value Disclosures of Financial Instrument Liabilities	The following table provides the estimated fair values of the Company’s financial instrument liabilities, for which fair value is measured for disclosure purposes only, compared to the recorded amounts at September 30, 2015 and December 31, 2014: September 30, 2015 December 31, 2014 Recorded Fair Value Recorded Fair Value (In thousands) Short-term borrowings $ (257,300 ) $ (257,300 ) $ (88,100 ) $ (88,100 ) Long-term debt (including current portion) (1,659,771 ) (1,746,242 ) (1,625,926 ) (1,768,439 )

Inventories (Tables)

Inventories (Tables)	9 Months Ended
	Sep. 30, 2015
Inventory Disclosure [Abstract]
Inventories	September 30, December 31, (In thousands) Finished goods and parts $ 81,853 $ 80,307 Work in process 115,358 94,298 Raw materials and purchased parts 344,783 321,291 Total inventories $ 541,994 $ 495,896

Acquisitions (Tables)

Acquisitions (Tables)	9 Months Ended
	Sep. 30, 2015
Business Combinations [Abstract]
Allocation of Aggregate Purchase Price of Acquired Net Assets	The following table represents the preliminary allocation of the aggregate purchase price for the net assets of the above acquisitions based on their estimated fair values at acquisition (in millions): Property, plant and equipment $ 53.4 Goodwill 155.2 Other intangible assets 156.8 Deferred income taxes (25.4 ) Net working capital and other* 16.5 Total purchase price $ 356.5 * Includes $29.0 million in accounts receivable, whose fair value, contractual cash flows and expected cash flows are approximately equal.

Goodwill (Tables)

Goodwill (Tables)	9 Months Ended
	Sep. 30, 2015
Goodwill and Intangible Assets Disclosure [Abstract]
Changes in Carrying Amounts of Goodwill by Segment	The changes in the carrying amounts of goodwill by segment were as follows: Electronic Electro- Total (In millions) Balance at December 31, 2014 $ 1,646.7 $ 967.3 $ 2,614.0 Goodwill acquired 67.8 87.4 155.2 Purchase price allocation adjustments and other (3.8 ) — (3.8 ) Foreign currency translation adjustments (23.7 ) (18.8 ) (42.5 ) Balance at September 30, 2015 $ 1,687.0 $ 1,035.9 $ 2,722.9

Income Taxes (Tables)

Income Taxes (Tables)	9 Months Ended
	Sep. 30, 2015
Income Tax Disclosure [Abstract]
Reconciliation of Liability for Uncertain Tax Positions	The following is a reconciliation of the liability for uncertain tax positions (in millions): Balance at December 31, 2014 $ 71.7 Additions for tax positions 10.7 Reductions for tax positions (20.1 ) Balance at September 30, 2015 $ 62.3

Share-Based Compensation (Table

Share-Based Compensation (Tables)	9 Months Ended
	Sep. 30, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Weighted Average Assumptions Used for Estimating Fair Values of Stock Options Granted	The following weighted average assumptions were used in the Black-Scholes-Merton Nine Months Ended Year Ended Expected volatility 22.3 % 23.9 % Expected term (years) 5.0 5.0 Risk-free interest rate 1.58 % 1.63 % Expected dividend yield 0.69 % 0.45 % Black-Scholes-Merton fair value per stock option granted $ 10.89 $ 12.21
Total Share-Based Compensation Expense	Total share-based compensation expense was as follows: Three Months Ended Nine Months Ended September 30, 2015 2014 2015 2014 (In thousands) Stock option expense $ 2,279 $ 1,887 $ 8,466 $ 7,227 Restricted stock expense 3,321 2,860 9,213 7,828 Total pre-tax expense 5,600 4,747 17,679 15,055 Related tax benefit (1,779 ) (1,423 ) (5,805 ) (4,710 ) Reduction of net income $ 3,821 $ 3,324 $ 11,874 $ 10,345
Summary of Stock Option Activity and Related Information	The following is a summary of the Company’s stock option activity and related information: Shares Weighted Price Weighted Life Aggregate Value (In thousands) (Years) (In millions) Outstanding at December 31, 2014 6,362 $ 31.47 Granted 1,326 52.30 Exercised (1,808 ) 20.66 Forfeited (115 ) 46.57 Expired (4 ) 48.89 Outstanding at September 30, 2015 5,761 $ 39.35 4.3 $ 75.5 Exercisable at September 30, 2015 2,984 $ 30.60 2.9 $ 65.0
Summary of Nonvested Restricted Stock Activity and Related Information	The following is a summary of the Company’s nonvested restricted stock activity and related information: Shares Weighted Average Grant Date Fair Value (In thousands) Nonvested restricted stock outstanding at December 31, 2014 1,105 $ 41.08 Granted 335 52.30 Vested (294 ) 33.40 Forfeited (58 ) 44.62 Nonvested restricted stock outstanding at September 30, 2015 1,088 $ 46.34

Retirement and Pension Plans (T

Retirement and Pension Plans (Tables)	9 Months Ended
	Sep. 30, 2015
Compensation and Retirement Disclosure [Abstract]
Components of Net Periodic Pension Benefit Expense (Income)	The components of net periodic pension benefit expense (income) were as follows: Three Months Ended Nine Months Ended 2015 2014 2015 2014 (In thousands) Defined benefit plans: Service cost $ 1,831 $ 1,630 $ 5,380 $ 4,910 Interest cost 7,304 7,237 21,084 21,732 Expected return on plan assets (14,017 ) (12,582 ) (40,690 ) (37,749 ) Amortization of net actuarial loss and other 2,160 1,030 6,480 3,092 Pension income (2,722 ) (2,685 ) (7,746 ) (8,015 ) Other plans: Defined contribution plans 5,225 5,163 17,725 15,888 Foreign plans and other 1,230 1,397 3,716 4,169 Total other plans 6,455 6,560 21,441 20,057 Total net pension expense $ 3,733 $ 3,875 $ 13,695 $ 12,042

Product Warranties (Tables)

Product Warranties (Tables)	9 Months Ended
	Sep. 30, 2015
Guarantees [Abstract]
Changes in Accrued Product Warranty Obligation	Changes in the accrued product warranty obligation were as follows: Nine Months Ended 2015 2014 (In thousands) Balance at the beginning of the period $ 29,764 $ 28,036 Accruals for warranties issued during the period 8,826 11,618 Settlements made during the period (13,798 ) (13,657 ) Warranty accruals related to acquired businesses and other during the period (1,672 ) 3,268 Balance at the end of the period $ 23,120 $ 29,265

First Quarter of 2015 Restruc35

First Quarter of 2015 Restructuring Charges (Tables)	9 Months Ended
	Sep. 30, 2015
Restructuring and Related Activities [Abstract]
Schedule of Accrued Liabilities in Company's Consolidated Balance Sheet Included Amounts Related to Restructuring Charges	Accrued liabilities in the Company’s consolidated balance sheet included amounts related to the first quarter of 2015 restructuring charges as follows (in millions): Balance at December 31, 2014 $ — Pre-tax charges 15.9 Utilization (8.2 ) Foreign currency translation and other 0.1 Balance at September 30, 2015 $ 7.8

Earnings Per Share - Number of

Earnings Per Share - Number of Weighted Average Shares (Detail) - shares shares in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Weighted average shares:
Basic shares	239,959	245,439	240,801	245,184
Equity-based compensation plans	1,279	2,204	1,751	2,241
Diluted shares	241,238	247,643	242,552	247,425

Accumulated Other Comprehensi37

Accumulated Other Comprehensive Income (Loss) - Components of Accumulated Other Comprehensive Income (Loss) (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated other comprehensive income (loss), beginning balance	$ (312,519)	$ (58,060)	$ (266,894)	$ (65,239)
Other comprehensive income (loss) before reclassifications:
Translation adjustments	(34,410)	(39,899)	(41,066)	(35,540)
Change in long-term intercompany notes	(780)	(37,018)	(40,825)	(38,154)
Net investment hedges	(4,497)	(11,021)	(7,204)	(6,997)
Gross amounts reclassified from accumulated other comprehensive income (loss)	2,160	1,030	6,480	3,092
Income tax benefit (expense)	833	3,497	296	1,367
Other comprehensive (loss) income, net of tax	(36,694)	(83,411)	(82,319)	(76,232)
Accumulated other comprehensive income (loss), ending balance	(349,213)	(141,471)	(349,213)	(141,471)
Foreign Currency Items and Other [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated other comprehensive income (loss), beginning balance	(173,373)	4,668	(124,912)	(1,171)
Other comprehensive income (loss) before reclassifications:
Translation adjustments	(34,410)	(39,899)	(41,066)	(35,540)
Change in long-term intercompany notes	(780)	(37,018)	(40,825)	(38,154)
Net investment hedges	(4,497)	(11,021)	(7,204)	(6,997)
Income tax benefit (expense)	1,575	3,857	2,522	2,449
Other comprehensive (loss) income, net of tax	(38,112)	(84,081)	(86,573)	(78,242)
Accumulated other comprehensive income (loss), ending balance	(211,485)	(79,413)	(211,485)	(79,413)
Defined Benefit Pension Plans [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated other comprehensive income (loss), beginning balance	(139,146)	(62,728)	(141,982)	(64,068)
Other comprehensive income (loss) before reclassifications:
Gross amounts reclassified from accumulated other comprehensive income (loss)	2,160	1,030	6,480	3,092
Income tax benefit (expense)	(742)	(360)	(2,226)	(1,082)
Other comprehensive (loss) income, net of tax	1,418	670	4,254	2,010
Accumulated other comprehensive income (loss), ending balance	$ (137,728)	$ (62,058)	$ (137,728)	$ (62,058)

Fair Value Measurements - Fair

Fair Value Measurements - Fair Value of Assets Measured on Recurring Basis (Detail) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed-income investments	$ 8,487	$ 9,219

Fair Value Measurements - Addit

Fair Value Measurements - Additional Information (Detail)	Sep. 30, 2015USD ($)
Fair Value Disclosures [Abstract]
Transfers between level 1 and level 2 investments	$ 0

Fair Value Measurements - Fai40

Fair Value Measurements - Fair Value Disclosures of Financial Instrument Liabilities (Detail) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Recorded Amount [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Short-term borrowings	$ (257,300)	$ (88,100)
Long-term debt (including current portion)	(1,659,771)	(1,625,926)
Fair Value [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Short-term borrowings	(257,300)	(88,100)
Long-term debt (including current portion)	$ (1,746,242)	$ (1,768,439)

Hedging Activities - Additional

Hedging Activities - Additional Information (Detail) € in Millions, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2015USD ($)	Sep. 30, 2015EUR (€)	Sep. 30, 2015USD ($)	Dec. 31, 2014USD ($)
Foreign Exchange Contract [Member] | Designated as Hedging Instrument [Member]
Derivative [Line Items]
Percentage of effectiveness on net investment hedges			100.00%
Currency remeasurement gains	$ 10.2		$ 10.2
Foreign Exchange Contract [Member] | Designated as Hedging Instrument [Member] | British-Pound-Denominated Loans [Member]
Derivative [Line Items]
Hedge against net investment in foreign subsidiaries	181.4		$ 181.4	$ 186.7
Foreign Exchange Contract [Member] | Designated as Hedging Instrument [Member] | Euro-Denominated Loans [Member]
Derivative [Line Items]
Hedge against net investment in foreign subsidiaries				$ 60.8
Euro Loan [Member]
Derivative [Line Items]
Payment of debt	$ 56.4	€ 50

Inventories - Inventories (Deta

Inventories - Inventories (Detail) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Inventory Disclosure [Abstract]
Finished goods and parts	$ 81,853	$ 80,307
Work in process	115,358	94,298
Raw materials and purchased parts	344,783	321,291
Total inventories	$ 541,994	$ 495,896

Acquisitions - Additional Infor

Acquisitions - Additional Information (Detail) $ in Millions	9 Months Ended
	Sep. 30, 2015USD ($)
Business Acquisition [Line Items]
Total other intangible assets acquired	$ 156.8
Indefinite-lived intangible trademarks and trade names acquired	20.6
Finite-lived intangible assets acquired	136.2
Customer Relationships [Member]
Business Acquisition [Line Items]
Finite-lived intangible assets acquired	$ 85.1
Customer Relationships [Member] | Minimum [Member]
Business Acquisition [Line Items]
Amortization period for finite-lived intangible asset	18 years
Customer Relationships [Member] | Maximum [Member]
Business Acquisition [Line Items]
Amortization period for finite-lived intangible asset	20 years
Trade Names [Member]
Business Acquisition [Line Items]
Finite-lived intangible assets acquired	$ 13.1
Trade Names [Member] | Minimum [Member]
Business Acquisition [Line Items]
Amortization period for finite-lived intangible asset	2 years
Trade Names [Member] | Maximum [Member]
Business Acquisition [Line Items]
Amortization period for finite-lived intangible asset	14 years
Purchased Technology [Member]
Business Acquisition [Line Items]
Finite-lived intangible assets acquired	$ 38
Purchased Technology [Member] | Minimum [Member]
Business Acquisition [Line Items]
Amortization period for finite-lived intangible asset	15 years
Purchased Technology [Member] | Maximum [Member]
Business Acquisition [Line Items]
Amortization period for finite-lived intangible asset	20 years
Global Tubes [Member]
Business Acquisition [Line Items]
Environmental liabilities related to estimated costs	$ 8.4
Global Tubes and Surface Inspection System Division [Member]
Business Acquisition [Line Items]
Amount of cash paid for acquisitions	356.5
Total other intangible assets acquired	156.8
Future amortization expense, 2015	8
Future amortization expense, 2016	8
Future amortization expense, 2017	8
Future amortization expense, 2018	8
Future amortization expense, 2019	8
Surface Vision [Member]
Business Acquisition [Line Items]
Goodwill recorded in connection with acquisitions	$ 67.8

Acquisitions - Allocation of Ag

Acquisitions - Allocation of Aggregate Purchase Price of Acquired Net Assets (Detail) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Business Acquisition [Line Items]
Goodwill	$ 2,722,871	$ 2,614,030
Other intangible assets	156,800
Global Tubes and Surface Inspection System Division [Member]
Business Acquisition [Line Items]
Property, plant and equipment	53,400
Goodwill	155,200
Other intangible assets	156,800
Deferred income taxes	(25,400)
Net working capital and other	16,500
Total purchase price	$ 356,500

Acquisitions - Allocation of 45

Acquisitions - Allocation of Aggregate Purchase Price of Acquired Net Assets (Parenthetical) (Detail) $ in Millions	Sep. 30, 2015USD ($)
Business Combinations [Abstract]
Accounts receivable included in purchase price	$ 29

Goodwill - Changes in Carrying

Goodwill - Changes in Carrying Amounts of Goodwill by Segment (Detail) $ in Thousands	9 Months Ended
	Sep. 30, 2015USD ($)
Goodwill [Line Items]
Balance at December 31, 2014	$ 2,614,030
Goodwill acquired	155,200
Purchase price allocation adjustments and other	(3,800)
Foreign currency translation adjustments	(42,500)
Balance at September 30, 2015	2,722,871
Electronic Instruments Group [Member]
Goodwill [Line Items]
Balance at December 31, 2014	1,646,700
Goodwill acquired	67,800
Purchase price allocation adjustments and other	(3,800)
Foreign currency translation adjustments	(23,700)
Balance at September 30, 2015	1,687,000
Electromechanical Group [Member]
Goodwill [Line Items]
Balance at December 31, 2014	967,300
Goodwill acquired	87,400
Foreign currency translation adjustments	(18,800)
Balance at September 30, 2015	$ 1,035,900

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail) - USD ($) $ in Millions	Sep. 30, 2015	Dec. 31, 2014
Income Tax Disclosure [Abstract]
Gross unrecognized tax benefits	$ 62.3	$ 71.7
Unrecognized tax benefits that would impact tax rate, if recognized	$ 51.7

Income Taxes - Reconciliation o

Income Taxes - Reconciliation of Liability for Uncertain Tax Positions (Detail) $ in Millions	9 Months Ended
	Sep. 30, 2015USD ($)
Income Tax Disclosure [Abstract]
Balance at December 31, 2014	$ 71.7
Additions for tax positions	10.7
Reductions for tax positions	(20.1)
Balance at September 30, 2015	$ 62.3

Debt - Additional Information (

Debt - Additional Information (Detail) € in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2015USD ($)	Sep. 30, 2015EUR (€)	Sep. 30, 2015	Aug. 31, 2015USD ($)	Jun. 30, 2015USD ($)	Sep. 30, 2014USD ($)
Debt Instrument [Line Items]
Weighted average interest rate on senior note	3.88%	3.88%	3.88%
3.91% Due June 2025 [Member] | Senior Notes [Member]
Debt Instrument [Line Items]
Aggregate principal amount of senior notes					$ 50,000,000
Interest rate on senior notes					3.91%
Maturity date of senior notes			Jun. 30, 2025
First Funding [Member] | Senior Notes [Member]
Debt Instrument [Line Items]
Aggregate principal amount of senior notes						$ 500,000,000
Funding date			Sep. 30, 2014
3.73% Due September 2024 [Member] | Senior Notes [Member]
Debt Instrument [Line Items]
Aggregate principal amount of senior notes						$ 300,000,000
Interest rate on senior notes						3.73%
Maturity date of senior notes			Sep. 30, 2024
3.83% Due September 2026 [Member] | Senior Notes [Member]
Debt Instrument [Line Items]
Aggregate principal amount of senior notes						$ 100,000,000
Interest rate on senior notes						3.83%
Maturity date of senior notes			Sep. 30, 2026
3.98% Due September 2029 [Member] | Senior Notes [Member]
Debt Instrument [Line Items]
Aggregate principal amount of senior notes						$ 100,000,000
Interest rate on senior notes						3.98%
Maturity date of senior notes			Sep. 30, 2029
Second Funding [Member] | Senior Notes [Member]
Debt Instrument [Line Items]
Funding date			Jun. 30, 2015
Third Funding [Member] | Senior Notes [Member]
Debt Instrument [Line Items]
Aggregate principal amount of senior notes				$ 150,000,000
Funding date			Aug. 31, 2015
3.96% Due August 2025 [Member] | Senior Notes [Member]
Debt Instrument [Line Items]
Aggregate principal amount of senior notes				$ 100,000,000
Interest rate on senior notes				3.96%
Maturity date of senior notes			Aug. 31, 2025
4.45% Due August 2035 [Member] | Senior Notes [Member]
Debt Instrument [Line Items]
Aggregate principal amount of senior notes				$ 50,000,000
Interest rate on senior notes				4.45%
Maturity date of senior notes			Aug. 31, 2035
6.59% [Member] | Senior Notes [Member]
Debt Instrument [Line Items]
Interest rate on senior notes	6.59%	6.59%	6.59%
Payments of senior notes	$ 90,000,000
3.94% [Member] | Senior Notes [Member]
Debt Instrument [Line Items]
Interest rate on senior notes	3.94%	3.94%	3.94%
Payments of senior notes	$ 56,400,000	€ 50

Share-Based Compensation - Weig

Share-Based Compensation - Weighted Average Assumptions Used for Estimating Fair Values of Stock Options Granted (Detail) - $ / shares	9 Months Ended	12 Months Ended
	Sep. 30, 2015	Dec. 31, 2014
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Expected volatility	22.30%	23.90%
Expected term (years)	5 years	5 years
Risk-free interest rate	1.58%	1.63%
Expected dividend yield	0.69%	0.45%
Black-Scholes-Merton fair value per stock option granted	$ 10.89	$ 12.21

Share-Based Compensation - Tota

Share-Based Compensation - Total Share-Based Compensation Expense (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Stock option expense	$ 2,279	$ 1,887	$ 8,466	$ 7,227
Restricted stock expense	3,321	2,860	9,213	7,828
Total pre-tax expense	5,600	4,747	17,679	15,055
Related tax benefit	(1,779)	(1,423)	(5,805)	(4,710)
Reduction of net income	$ 3,821	$ 3,324	$ 11,874	$ 10,345

Share-Based Compensation - Summ

Share-Based Compensation - Summary of Stock Option Activity and Related Information (Detail) $ / shares in Units, shares in Thousands, $ in Millions	9 Months Ended
	Sep. 30, 2015USD ($)$ / sharesshares
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Beginning balance, Outstanding, Shares	6,362
Granted, Shares	1,326
Exercised, Shares	(1,808)
Forfeited, Shares	(115)
Expired, Shares	(4)
Ending balance, Outstanding, Shares	5,761
Ending balance, Exercisable, Shares	2,984
Beginning balance, Outstanding, Weighted Average Exercise Price | $ / shares	$ 31.47
Granted, Weighted Average Exercise Price | $ / shares	52.30
Exercised, Weighted Average Exercise Price | $ / shares	20.66
Forfeited, Weighted Average Exercise Price | $ / shares	46.57
Expired, Weighted Average Exercise Price | $ / shares	48.89
Ending balance, Outstanding, Weighted Average Exercise Price | $ / shares	39.35
Ending balance, Exercisable, Weighted Average Exercise Price | $ / shares	$ 30.60
Ending balance, Outstanding, Weighted Average Remaining Contractual Life (Years)	4 years 3 months 18 days
Ending balance, Exercisable, Weighted Average Remaining Contractual Life (Years)	2 years 10 months 24 days
Ending balance, Outstanding, Aggregate Intrinsic Value | $	$ 75.5
Ending balance, Exercisable, Aggregate Intrinsic Value | $	$ 65

Share-Based Compensation - Addi

Share-Based Compensation - Additional Information (Detail) - USD ($) shares in Thousands, $ in Millions	9 Months Ended
	Sep. 30, 2015	Dec. 31, 2014
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Aggregate intrinsic value of stock options exercised	$ 60
Total fair value of stock options vested	9.9
Expected future pre-tax compensation expense, nonvested stock options	$ 20.5
Nonvested stock options outstanding	2,800
Weighted average period to recognize expected future pre-tax compensation expense (in years)	2 years
Total fair value of vested restricted stock	$ 9.8
Restricted Shares [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average period to recognize expected future pre-tax compensation expense (in years)	2 years
Expected future pre-tax compensation expense, nonvested restricted shares	$ 31.6
Nonvested restricted stock outstanding	1,088	1,105

Share-Based Compensation - Su54

Share-Based Compensation - Summary of Nonvested Restricted Stock Activity and Related Information (Detail) - Restricted Shares [Member] shares in Thousands	9 Months Ended
	Sep. 30, 2015$ / sharesshares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Beginning balance, Nonvested restricted stock outstanding, Shares	1,105
Granted, Shares	335
Vested, Shares	(294)
Forfeited, Shares	(58)
Ending balance, Nonvested restricted stock outstanding, Shares	1,088
Beginning balance, Nonvested restricted stock outstanding, Weighted Average Grant Date Fair Value | $ / shares	$ 41.08
Granted, Weighted Average Grant Date Fair Value | $ / shares	52.30
Vested, Weighted Average Grant Date Fair Value | $ / shares	33.40
Forfeited, Weighted Average Grant Date Fair Value | $ / shares	44.62
Ending balance, Nonvested restricted stock outstanding, Weighted Average Grant Date Fair Value | $ / shares	$ 46.34

Retirement and Pension Plans -

Retirement and Pension Plans - Components of Net Periodic Pension Benefit Expense (Income) (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Defined benefit plans:
Service cost	$ 1,831	$ 1,630	$ 5,380	$ 4,910
Interest cost	7,304	7,237	21,084	21,732
Expected return on plan assets	(14,017)	(12,582)	(40,690)	(37,749)
Amortization of net actuarial loss and other	2,160	1,030	6,480	3,092
Pension income	(2,722)	(2,685)	(7,746)	(8,015)
Other plans:
Defined contribution plans	5,225	5,163	17,725	15,888
Foreign plans and other	1,230	1,397	3,716	4,169
Total other plans	6,455	6,560	21,441	20,057
Total net pension expense	$ 3,733	$ 3,875	$ 13,695	$ 12,042

Retirement and Pension Plans 56

Retirement and Pension Plans - Additional Information (Detail) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
Compensation and Retirement Disclosure [Abstract]
Defined benefit pension plan contributions	$ 52.4	$ 2.6

Product Warranties - Additional

Product Warranties - Additional Information (Detail)	9 Months Ended
	Sep. 30, 2015
Guarantees [Abstract]
Product warranty period	The Company provides limited warranties in connection with the sale of its products. The warranty periods for products sold vary widely among the Company’s operations, but for the most part do not exceed one year.

Product Warranties - Changes in

Product Warranties - Changes in Accrued Product Warranty Obligation (Detail) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
Guarantees [Abstract]
Balance at the beginning of the period	$ 29,764	$ 28,036
Accruals for warranties issued during the period	8,826	11,618
Settlements made during the period	(13,798)	(13,657)
Warranty accruals related to acquired businesses and other during the period	(1,672)	3,268
Balance at the end of the period	$ 23,120	$ 29,265

Contingencies - Additional Info

Contingencies - Additional Information (Detail) $ in Millions	Sep. 30, 2015USD ($)site	Sep. 30, 2015USD ($)	Dec. 31, 2014USD ($)
Site Contingency [Line Items]
Number of non-owned sites Company is named Potentially Responsible Party | site	14
Number of non-owned sites the Company is identified as a de minimis party | site	13
Number of non-owned sites Company has reached tentative settlement agreement | site	9
Number of non-owned sites Company is still working to establish settlement amount | site	4
Total environmental reserves	$ 32	$ 32	$ 26.6
Increase (decrease) in environmental reserves		9.2
Total expenses related to environmental matters		3.8
HCC Industries [Member]
Site Contingency [Line Items]
Reserves related to an owned site acquired	11.6	11.6	$ 11.7
Receivables related to HCC for probable recoveries from third-party funds	10	10
Amount for which the Company is indemnified by HCC's former owners	$ 19
Global Tubes and Surface Inspection System Division [Member]
Site Contingency [Line Items]
Increase (decrease) in environmental reserves		$ 8.4

First Quarter of 2015 Restruc60

First Quarter of 2015 Restructuring Charges - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended	9 Months Ended
	Mar. 31, 2015	Sep. 30, 2015
Restructuring Cost and Reserve [Line Items]
Reduction in net income due to restructuring charges	$ 10.8
Reduction in earning per share diluted due to restructuring charges	$ 0.04
Restructuring charges	$ 15.9	$ 15.9
Electronic Instruments Group [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges		9.3
Electromechanical Group [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges		6.5
Cost of Sales, Excluding Depreciation [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges		15.8
Selling, General and Administrative Expenses [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges		0.1
Corporate Administrative Expenses [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges		$ 0.1

First Quarter of 2015 Restruc61

First Quarter of 2015 Restructuring Charges - Schedule of Accrued Liabilities in Company's Consolidated Balance Sheet Included Amounts Related to Restructuring Charges (Detail) - USD ($) $ in Millions	3 Months Ended	9 Months Ended
	Mar. 31, 2015	Sep. 30, 2015
Restructuring and Related Activities [Abstract]
Balance at December 31, 2014	$ 0	$ 0
Pre-tax charges	$ 15.9	15.9
Utilization		(8.2)
Foreign currency translation and other		0.1
Balance at September 30, 2015		$ 7.8

Stockholders' Equity - Addition

Stockholders' Equity - Additional Information (Detail) - USD ($)	9 Months Ended
	Sep. 30, 2015	Nov. 04, 2015	Apr. 01, 2015
Equity, Class of Treasury Stock [Line Items]
Authorization for repurchase of common stock			$ 350,000,000
Repurchase of common stock, shares	5,576,000
Repurchase of common stock under share repurchase authorization	$ 306,500,000
Remaining authorization for future share repurchases	$ 90,600,000
Subsequent Event [Member]
Equity, Class of Treasury Stock [Line Items]
Authorization for repurchase of common stock		$ 350,000,000

Reportable Segments - Additiona

Reportable Segments - Additional Information (Detail)	9 Months Ended
	Sep. 30, 2015Segment
Segment Reporting [Abstract]
Number of reportable segments	2