AMETEK (AME) 10-Q 2 Nov 17 2017 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2017	Oct. 24, 2017
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2017
Document Fiscal Year Focus	2,017
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		231,117,205

Consolidated Statement of Incom

Consolidated Statement of Income - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Income Statement [Abstract]
Net sales	$ 1,084,799	$ 945,030	$ 3,157,085	$ 2,867,134
Operating expenses:
Cost of sales	719,718	630,744	2,084,392	1,894,136
Selling, general and administrative	132,250	113,170	387,179	344,323
Total operating expenses	851,968	743,914	2,471,571	2,238,459
Operating income	232,831	201,116	685,514	628,675
Other expenses:
Interest expense	(24,709)	(23,609)	(73,777)	(70,716)
Other, net	(3,695)	(3,259)	(12,533)	(10,108)
Income before income taxes	204,427	174,248	599,204	547,851
Provision for income taxes	50,896	43,561	156,266	144,801
Net income	$ 153,531	$ 130,687	$ 442,938	$ 403,050
Basic earnings per share	$ 0.67	$ 0.56	$ 1.93	$ 1.73
Diluted earnings per share	$ 0.66	$ 0.56	$ 1.91	$ 1.72
Weighted average common shares outstanding:
Basic shares	230,439	231,894	230,049	233,387
Diluted shares	232,253	232,721	231,615	234,576
Dividends declared and paid per share	$ 0.09	$ 0.09	$ 0.27	$ 0.27

Consolidated Statement of Compr

Consolidated Statement of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Statement of Comprehensive Income [Abstract]
Total comprehensive income	$ 185,167	$ 124,135	$ 522,665	$ 378,820

Consolidated Balance Sheet

Consolidated Balance Sheet - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Current assets:
Cash and cash equivalents	$ 736,415	$ 717,259
Receivables, net	640,815	592,326
Inventories, net	546,876	492,104
Deferred income taxes		50,004
Other current assets	100,377	76,497
Total current assets	2,024,483	1,928,190
Property, plant and equipment, net	494,973	473,230
Goodwill	3,138,742	2,818,950
Other intangibles, net	1,965,973	1,734,021
Investments and other assets	159,130	146,283
Total assets	7,783,301	7,100,674
Current liabilities:
Short-term borrowings and current portion of long-term debt, net	509,567	278,921
Accounts payable	409,357	369,537
Income taxes payable	47,604	29,913
Accrued liabilities	303,813	246,070
Total current liabilities	1,270,341	924,441
Long-term debt, net	1,920,879	2,062,644
Deferred income taxes	608,971	621,776
Other long-term liabilities	216,955	235,300
Total liabilities	4,017,146	3,844,161
Stockholders' equity:
Common stock	2,630	2,615
Capital in excess of par value	649,807	604,143
Retained earnings	4,784,618	4,403,683
Accumulated other comprehensive loss	(462,662)	(542,389)
Treasury stock	(1,208,238)	(1,211,539)
Total stockholders' equity	3,766,155	3,256,513
Total liabilities and stockholders' equity	$ 7,783,301	$ 7,100,674

Condensed Consolidated Statemen

Condensed Consolidated Statement of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016
Operating activities:
Net income	$ 442,938	$ 403,050
Adjustments to reconcile net income to total operating activities:
Depreciation and amortization	131,005	122,968
Deferred income taxes	20,492	(2,638)
Share-based compensation expense	19,689	16,393
Gain on sale of facility	(1,133)
Net change in assets and liabilities, net of acquisitions	19,221	(27,428)
Pension contribution	(52,493)	(3,003)
Other, net	675	175
Total operating activities	580,394	509,517
Investing activities:
Additions to property, plant and equipment	(45,630)	(40,497)
Purchases of businesses, net of cash acquired	(518,634)	(359,976)
Proceeds from sale of facility	2,239
Other, net	(400)	500
Total investing activities	(562,425)	(399,973)
Financing activities:
Net change in short-term borrowings	(9,601)	237,100
Repurchases of common stock	(6,730)	(236,078)
Cash dividends paid	(62,003)	(62,705)
Excess tax benefits from share-based payments		5,061
Proceeds from employee stock plans and other, net	35,345	15,234
Total financing activities	(42,989)	(41,388)
Effect of exchange rate changes on cash and cash equivalents	44,176	(3,692)
Increase in cash and cash equivalents	19,156	64,464
Cash and cash equivalents:
Beginning of period	717,259	381,005
End of period	$ 736,415	$ 445,469

Basis of Presentation

Basis of Presentation	9 Months Ended
	Sep. 30, 2017
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, 2017, the consolidated results of its operations for the three and nine months ended September 30, 2017 and 2016 and its cash flows for the nine months ended September 30, 2017 and 2016 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 audited 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, 2017
Accounting Changes and Error Corrections [Abstract]
Recent Accounting Pronouncements	2. Recent Accounting Pronouncements In May 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“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. ASU 2014-09 In July 2015, the FASB issued ASU No. 2015-11, Simplifying the Measurement of Inventory (“ASU 2015-11”), first-in, first-out last-in, first-out ASU 2015-11 In November 2015, the FASB issued ASU No. 2015-17, Balance Sheet Classification of Deferred Taxes (“ASU 2015-17”). ASU 2015-17 ASU 2015-17 ASU 2015-17. In February 2016, the FASB issued ASU No. 2016-02, Leases (“ASU 2016-02”). right-of-use right-of-use ASU 2016-02 ASU 2016-02 ASU 2016-02 In March 2016, the FASB issued ASU No. 2016-09, Improvements to Employee Share-Based Payment Accounting (“ASU 2016-09”). ASU 2016-09 ASU 2016-09 In January 2017, the FASB issued ASU No. 2017-01, Clarifying the Definition of a Business (“ASU 2017-01”). ASU 2017-01 ASU 2017-01 ASU 2017-01 ASU 2017-01 ASU 2017-01 ASU 2017-01 In January 2017, the FASB issued ASU No. 2017-04, Simplifying the Test for Goodwill Impairment (“ASU 2017-04”). ASU 2017-04 ASU 2017-04 ASU 2017-04 In March 2017, the FASB issued ASU No. 2017-07, Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost (“ASU 2017-07”), ASU 2017-07 ASU 2017-07 ASU 2017-07 In May 2017, the FASB issued ASU No. 2017-09, Scope of Modification Accounting (“ASU 2017-09”). ASU 2017-09 ASU 2017-09 ASU 2017-09

Earnings Per Share

Earnings Per Share	9 Months Ended
	Sep. 30, 2017
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 September 30, September 30, 2017 2016 2017 2016 (In thousands) Weighted average shares: Basic shares 230,439 231,894 230,049 233,387 Equity-based compensation plans 1,814 827 1,566 1,189 Diluted shares 232,253 232,721 231,615 234,576

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income (Loss)	9 Months Ended
	Sep. 30, 2017
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 Three Months Ended September 30, 2017 September 30, 2016 Foreign Currency Items and Other Defined Benefit Pension Plans Total Foreign Currency Items and Other Defined Benefit Pension Plans Total (In thousands) Balance at the beginning of the period $ (294,922 ) $ (199,376 ) $ (494,298 ) $ (271,501 ) $ (151,808 ) $ (423,309 ) Other comprehensive income (loss) before reclassifications: Translation adjustments 37,642 — 37,642 (10,441 ) — (10,441 ) Change in long-term intercompany notes 12,035 — 12,035 3,063 — 3,063 Net investment hedge instruments (32,422 ) — (32,422 ) (1,212 ) — (1,212 ) Gross amounts reclassified from accumulated other comprehensive income (loss) — 3,512 3,512 — 2,484 2,484 Income tax benefit (expense) 12,190 (1,321 ) 10,869 423 (869 ) (446 ) Other comprehensive income (loss), net of tax 29,445 2,191 31,636 (8,167 ) 1,615 (6,552 ) Balance at the end of the period $ (265,477 ) $ (197,185 ) $ (462,662 ) $ (279,668 ) $ (150,193 ) $ (429,861 ) Nine Months Ended Nine Months Ended September 30, 2017 September 30, 2016 Foreign Currency Items and Other Defined Benefit Pension Plans Total Foreign Currency Items and Other Defined Benefit Pension Plans Total (In thousands) Balance at the beginning of the period $ (338,631 ) $ (203,758 ) $ (542,389 ) $ (250,593 ) $ (155,038 ) $ (405,631 ) Other comprehensive income (loss) before reclassifications: Translation adjustments 101,846 — 101,846 (26,581 ) — (26,581 ) Change in long-term intercompany notes 30,727 — 30,727 6,862 — 6,862 Net investment hedge instruments (95,311 ) — (95,311 ) (14,393 ) — (14,393 ) Gross amounts reclassified from accumulated other comprehensive income (loss) — 10,536 10,536 — 7,452 7,452 Income tax benefit (expense) 35,892 (3,963 ) 31,929 5,037 (2,607 ) 2,430 Other comprehensive income (loss), net of tax 73,154 6,573 79,727 (29,075 ) 4,845 (24,230 ) Balance at the end of the period $ (265,477 ) $ (197,185 ) $ (462,662 ) $ (279,668 ) $ (150,193 ) $ (429,861 )

Fair Value Measurements

Fair Value Measurements	9 Months Ended
	Sep. 30, 2017
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, 2017 and December 31, 2016, consistent with the fair value hierarchy: September 30, 2017 December 31, 2016 Fair Value Fair Value (In thousands) Fixed-income investments $ 7,896 $ 7,317 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, 2017 and 2016, 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, 2017 and 2016. Financial Instruments Cash, cash equivalents and fixed-income investments are recorded at fair value at September 30, 2017 and December 31, 2016 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, 2017 and December 31, 2016: September 30, 2017 December 31, 2016 Recorded Fair Value Recorded Fair Value (In thousands) Short-term borrowings, net $ — $ — $ — $ — Long-term debt, net (including current portion) (2,430,446 ) (2,456,920 ) (2,341,565 ) (2,386,901 ) The fair value of short-term

Hedging Activities

Hedging Activities	9 Months Ended
	Sep. 30, 2017
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, 2017, these net investment hedges included British-pound-and At September 30, 2017, the Company had $408.7 million of British-pound-denominated loans, which were designated as a hedge against the net investment in British pound functional currency foreign subsidiaries. At September 30, 2017, the Company had $590.7 million in Euro-denominated loans, which were designated as a hedge against the net investment in Euro functional currency foreign subsidiaries. As a result of the British-pound-and

Inventories, net

Inventories, net	9 Months Ended
	Sep. 30, 2017
Inventory Disclosure [Abstract]
Inventories, net	7. Inventories, net September 30, December 31, 2017 2016 (In thousands) Finished goods and parts $ 79,897 $ 75,827 Work in process 118,979 101,484 Raw materials and purchased parts 348,000 314,793 Total inventories, net $ 546,876 $ 492,104

Acquisitions

Acquisitions	9 Months Ended
	Sep. 30, 2017
Business Combinations [Abstract]
Acquisitions	8. Acquisitions The Company spent $518.6 million in cash, net of cash acquired, to acquire Rauland-Borg The following table represents the preliminary allocation of the aggregate purchase price for the net assets of the 2017 acquisitions based on their estimated fair values at acquisition (in millions): Property, plant and equipment $ 21.5 Goodwill 256.4 Other intangible assets 269.5 Long-term liabilities (10.6 ) Deferred income taxes (27.2 ) Net working capital and other (1) 34.5 Total purchase price 544.1 Less: Contingent payment liability (25.5 ) Total cash paid $ 518.6 (1) Includes $30.7 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 2017 acquisitions as follows: Rauland provides the Company with attractive new growth opportunities within the medical technology market, strong growth opportunities in its core markets and incremental growth opportunities through acquisitions and international expansion. MOCON’s products and technologies complement the Company’s existing gas analysis instrumentation business and provides it with opportunities to expand into the growing food and pharmaceutical package testing market. The Company expects approximately $146 million of the goodwill recorded in connection with the 2017 acquisitions will be tax deductible in future years. At September 30, 2017, purchase price allocated to other intangible assets of $269.5 million consists of $53.6 million of indefinite-lived intangible trade names, which are not subject to amortization. The remaining $215.9 million of other intangible assets consists of $162.0 million of customer relationships, which are being amortized over a period of 18 years and $53.9 million of purchased technology, which is being amortized over a period of 18 years. Amortization expense for each of the next five years for the 2017 acquisitions is expected to approximate $12 million per year. The Company is in the process of finalizing the measurement of certain tangible and intangible assets and liabilities for its 2017 acquisitions, including inventory, property, plant and equipment, goodwill, customer relationships, trade names, purchased technology, and the accounting for income taxes and certain long-term The above mentioned contingent payment is based on Rauland achieving a certain cumulative revenue target over the period October 1, 2016 to September 30, 2018. If Rauland achieves the target, the $30 million contingent payment will be made; however, if the target is not achieved, no payment will be made. At the acquisition date, the estimated fair value of the contingent payment liability was $25.5 million, which was based on a probabilistic approach using level 3 inputs. At September 30, 2017, there was no change to the estimated fair value of the contingent payment liability. The 2017 acquisitions had an immaterial impact on reported net sales, net income and diluted earnings per share for the three and nine months ended September 30, 2017. Had the 2017 acquisitions been made at the beginning of 2017 or 2016, unaudited pro forma net sales, net income and diluted earnings per share for the three and nine months ended September 30, 2017 and 2016, respectively, would not have been materially different than the amounts reported.

Goodwill

Goodwill	9 Months Ended
	Sep. 30, 2017
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill	9. Goodwill The changes in the carrying amounts of goodwill by segment were as follows: Electronic Electro- mechanical Total (In millions) Balance at December 31, 2016 $ 1,817.0 $ 1,002.0 $ 2,819.0 Goodwill acquired 256.4 — 256.4 Purchase price allocation adjustments and other 0.1 0.6 0.7 Foreign currency translation adjustments 31.2 31.4 62.6 Balance at September 30, 2017 $ 2,104.7 $ 1,034.0 $ 3,138.7

Income Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2017
Income Tax Disclosure [Abstract]
Income Taxes	10. Income Taxes At September 30, 2017, the Company had gross unrecognized tax benefits of $58.5 million, of which $49.0 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, 2016 $ 57.9 Additions for tax positions 8.7 Reductions for tax positions (8.1 ) Balance at September 30, 2017 $ 58.5 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, 2017 and 2016 were not significant.

Share-Based Compensation

Share-Based Compensation	9 Months Ended
	Sep. 30, 2017
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Share-Based Compensation	11. Share-Based Compensation Total share-based compensation expense was as follows: Three Months Ended Nine Months Ended September 30, September 30, 2017 2016 2017 2016 (In thousands) Stock option expense $ 2,482 $ 2,311 $ 7,449 $ 7,634 Restricted stock expense 3,094 3,047 12,240 8,759 Total pre-tax $ 5,576 $ 5,358 $ 19,689 $ 16,393 Pre-tax pre-tax 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 Year Ended September 30, 2017 December 31, 2016 Expected volatility 18.0 % 21.8 % Expected term (years) 5.0 5.0 Risk-free interest rate 1.94 % 1.23 % Expected dividend yield 0.60 % 0.77 % Black-Scholes-Merton fair value per stock option granted $ 11.05 $ 9.14 Expected volatility is based on the historical volatility of the Company’s stock over the stock options’ expected term. 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 expected term 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. 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, 2016 6,011 $ 42.25 Granted 1,331 60.32 Exercised (1,388 ) 30.96 Forfeited (180 ) 52.17 Expired (8 ) 52.10 Outstanding at September 30, 2017 5,766 $ 48.81 4.4 $ 99.3 Exercisable at September 30, 2017 3,010 $ 43.74 3.1 $ 67.1 The aggregate intrinsic value of stock options exercised during the nine months ended September 30, 2017 was $37.4 million. The total fair value of stock options vested during the nine months ended September 30, 2017 was $12.4 million. As of September 30, 2017, there was approximately $24 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 Fair Value (In thousands) Nonvested restricted stock outstanding at December 31, 2016 1,019 $ 48.59 Granted 335 60.24 Vested (317 ) 47.41 Forfeited (66 ) 51.33 Nonvested restricted stock outstanding at September 30, 2017 971 $ 53.32 The total fair value of restricted stock vested during the nine months ended September 30, 2017 was $15.0 million. As of September 30, 2017, there was approximately $32 million of expected future pre-tax

Retirement and Pension Plans

Retirement and Pension Plans	9 Months Ended
	Sep. 30, 2017
Retirement Benefits [Abstract]
Retirement and Pension Plans	12. Retirement and Pension Plans The components of net periodic pension benefit expense (income) were as follows: Three Months Ended Nine Months Ended 2017 2016 2017 2016 (In thousands) Defined benefit plans: Service cost $ 1,919 $ 1,628 $ 5,657 $ 4,956 Interest cost 6,904 7,448 20,566 22,688 Expected return on plan assets (13,343 ) (12,693 ) (39,884 ) (38,639 ) Amortization of net actuarial loss and other 3,512 2,484 10,536 7,452 Pension income (1,008 ) (1,133 ) (3,125 ) (3,543 ) Other plans: Defined contribution plans 5,830 5,660 18,788 18,537 Foreign plans and other 1,435 1,525 4,323 4,203 Total other plans 7,265 7,185 23,111 22,740 Total net pension expense $ 6,257 $ 6,052 $ 19,986 $ 19,197 For the nine months ended September 30, 2017 and 2016, contributions to the Company’s defined benefit pension plans were $52.5 million and $3.0 million, respectively. The Company’s current estimate of 2017 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, 2017
Guarantees and Product Warranties [Abstract]
Product Warranties	13. Product Warranties The Company provides limited warranties in connection with the sale of its products. The warranty periods for products sold vary among the Company’s operations, but generally do not exceed one year. The Company calculates its warranty expense provision based on its historical warranty experience and adjustments are made periodically to reflect actual warranty expenses. Changes in the accrued product warranty obligation were as follows: Nine Months Ended 2017 2016 (In thousands) Balance at the beginning of the period $ 22,007 $ 22,761 Accruals for warranties issued during the period 12,235 9,630 Settlements made during the period (13,690 ) (11,697 ) Warranty accruals related to acquired businesses and other during the period 2,372 1,233 Balance at the end of the period $ 22,924 $ 21,927 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, 2017
Commitments and Contingencies Disclosure [Abstract]
Contingencies	14. Contingencies Asbestos Litigation The Company (including its subsidiaries) has been named as a defendant in a number of asbestos-related lawsuits. Certain of these lawsuits relate to a business which was acquired by the Company and do not involve products which were manufactured or sold by the Company. In connection with these lawsuits, the seller of such business has agreed to indemnify the Company against these claims (the “Indemnified Claims”). The Indemnified Claims have been tendered to, and are being defended by, such seller. The seller has met its obligations, in all respects, and the Company does not have any reason to believe such party would fail to fulfill its obligations in the future. To date, no judgments have been rendered against the Company as a result of any asbestos-related lawsuit. The Company believes that it has good and valid defenses to each of these claims and intends to defend them vigorously. Environmental Matters Certain historic processes in the manufacture of products have resulted in environmentally hazardous waste by-products non-AMETEK-owned “non-owned” agreed-to non-de non-owned Total environmental reserves at September 30, 2017 and December 31, 2016 were $27.8 million and $28.4 million, respectively, for both non-owned 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 for the environmental matters described above, 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 on presently available information and the Company’s historical 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. The Company has been remediating groundwater contamination for several contaminants, including trichloroethylene (“TCE”), at a formerly owned site in El Cajon, California. Several lawsuits have been filed against the Company alleging damages resulting from the groundwater contamination, including property damages and personal injury, and seeking compensatory and punitive damages. Given the state of uncertainty inherent in these litigations, the Company does not believe it is possible to develop estimates of reasonably possible loss in regard to these matters. The Company believes that it has good and valid defenses to each of these claims and intends to defend them vigorously. The Company does not expect the outcome of these matters, either individually or in the aggregate, to materially affect the consolidated results of operations, financial position or cash flows of the Company.

Reportable Segments

Reportable Segments	9 Months Ended
	Sep. 30, 2017
Segment Reporting [Abstract]
Reportable Segments	15. Reportable Segments The Company has two reportable segments, Electronic Instruments Group (“EIG”) and Electromechanical Group (“EMG”). The Company’s operating segments are identified based on the existence of segment managers. Certain of the Company’s operating segments 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, 2017, there were no significant changes in identifiable assets of reportable segments from the amounts disclosed at December 31, 2016, 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, 2017 and 2016 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.

Stockholders' Equity

Stockholders' Equity	9 Months Ended
	Sep. 30, 2017
Equity [Abstract]
Stockholders' Equity	16. Stockholders’ Equity The Company had a Shareholder Rights Plan, which expired in June 2017. Under the Plan, the Company’s Board of Directors declared a dividend of one Right for each share of Company common stock owned at the close of business on June 2, 2007, and had authorized the issuance of one Right for each share of common stock of the Company issued between the Record Date and the Distribution Date. The Plan provided, under certain conditions involving acquisition of the Company’s common stock, that holders of Rights, except for the acquiring entity, would be entitled (i) to purchase shares of preferred stock at a specified exercise price, or (ii) to purchase shares of common stock of the Company, or the acquiring company, having a value of twice the Rights exercise price.

Restructuring Charges

Restructuring Charges	9 Months Ended
	Sep. 30, 2017
Restructuring and Related Activities [Abstract]
Restructuring Charges	17. Restructuring Charges During the fourth quarter of 2016, the Company recorded pre-tax During the fourth quarter of 2015, the Company recorded pre-tax Accrued liabilities in the Company’s consolidated balance sheet included amounts related to the fourth quarter of 2016 and fourth quarter of 2015 restructuring charges as follows (in millions): Fourth Quarter of 2016 Fourth Quarter of 2015 Balance at December 31, 2016 $ 19.2 $ 9.2 Utilization (5.4 ) (1.7 ) Foreign currency translation adjustments and other 0.1 (0.1 ) Balance at September 30, 2017 $ 13.9 $ 7.4

Recent Accounting Pronounceme23

Recent Accounting Pronouncements (Policies)	9 Months Ended
	Sep. 30, 2017
Accounting Changes and Error Corrections [Abstract]
Revenue from Contracts with Customers	In May 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“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. ASU 2014-09
Simplifying the Measurement of Inventory	In July 2015, the FASB issued ASU No. 2015-11, Simplifying the Measurement of Inventory (“ASU 2015-11”), first-in, first-out last-in, first-out ASU 2015-11
Balance Sheet Classification of Deferred Taxes	In November 2015, the FASB issued ASU No. 2015-17, Balance Sheet Classification of Deferred Taxes (“ASU 2015-17”). ASU 2015-17 ASU 2015-17 ASU 2015-17.
Leases	In February 2016, the FASB issued ASU No. 2016-02, Leases (“ASU 2016-02”). right-of-use right-of-use ASU 2016-02 ASU 2016-02 ASU 2016-02
Improvements to Employee Share-Based Payment Accounting	In March 2016, the FASB issued ASU No. 2016-09, Improvements to Employee Share-Based Payment Accounting (“ASU 2016-09”). ASU 2016-09 ASU 2016-09
Clarifying the Definition of a Business	In January 2017, the FASB issued ASU No. 2017-01, Clarifying the Definition of a Business (“ASU 2017-01”). ASU 2017-01 ASU 2017-01 ASU 2017-01 ASU 2017-01 ASU 2017-01 ASU 2017-01
Simplifying the Test for Goodwill Impairment	In January 2017, the FASB issued ASU No. 2017-04, Simplifying the Test for Goodwill Impairment (“ASU 2017-04”). ASU 2017-04 ASU 2017-04 ASU 2017-04
Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost	In March 2017, the FASB issued ASU No. 2017-07, Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost (“ASU 2017-07”), ASU 2017-07 ASU 2017-07 ASU 2017-07
Scope of Modification Accounting	In May 2017, the FASB issued ASU No. 2017-09, Scope of Modification Accounting (“ASU 2017-09”). ASU 2017-09 ASU 2017-09 ASU 2017-09

Earnings Per Share (Tables)

Earnings Per Share (Tables)	9 Months Ended
	Sep. 30, 2017
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 September 30, September 30, 2017 2016 2017 2016 (In thousands) Weighted average shares: Basic shares 230,439 231,894 230,049 233,387 Equity-based compensation plans 1,814 827 1,566 1,189 Diluted shares 232,253 232,721 231,615 234,576

Accumulated Other Comprehensi25

Accumulated Other Comprehensive Income (Loss) (Tables)	9 Months Ended
	Sep. 30, 2017
Equity [Abstract]
Components of Accumulated Other Comprehensive Income (Loss)	The components of accumulated other comprehensive income (loss) consisted of the following: Three Months Ended Three Months Ended September 30, 2017 September 30, 2016 Foreign Currency Items and Other Defined Benefit Pension Plans Total Foreign Currency Items and Other Defined Benefit Pension Plans Total (In thousands) Balance at the beginning of the period $ (294,922 ) $ (199,376 ) $ (494,298 ) $ (271,501 ) $ (151,808 ) $ (423,309 ) Other comprehensive income (loss) before reclassifications: Translation adjustments 37,642 — 37,642 (10,441 ) — (10,441 ) Change in long-term intercompany notes 12,035 — 12,035 3,063 — 3,063 Net investment hedge instruments (32,422 ) — (32,422 ) (1,212 ) — (1,212 ) Gross amounts reclassified from accumulated other comprehensive income (loss) — 3,512 3,512 — 2,484 2,484 Income tax benefit (expense) 12,190 (1,321 ) 10,869 423 (869 ) (446 ) Other comprehensive income (loss), net of tax 29,445 2,191 31,636 (8,167 ) 1,615 (6,552 ) Balance at the end of the period $ (265,477 ) $ (197,185 ) $ (462,662 ) $ (279,668 ) $ (150,193 ) $ (429,861 ) Nine Months Ended Nine Months Ended September 30, 2017 September 30, 2016 Foreign Currency Items and Other Defined Benefit Pension Plans Total Foreign Currency Items and Other Defined Benefit Pension Plans Total (In thousands) Balance at the beginning of the period $ (338,631 ) $ (203,758 ) $ (542,389 ) $ (250,593 ) $ (155,038 ) $ (405,631 ) Other comprehensive income (loss) before reclassifications: Translation adjustments 101,846 — 101,846 (26,581 ) — (26,581 ) Change in long-term intercompany notes 30,727 — 30,727 6,862 — 6,862 Net investment hedge instruments (95,311 ) — (95,311 ) (14,393 ) — (14,393 ) Gross amounts reclassified from accumulated other comprehensive income (loss) — 10,536 10,536 — 7,452 7,452 Income tax benefit (expense) 35,892 (3,963 ) 31,929 5,037 (2,607 ) 2,430 Other comprehensive income (loss), net of tax 73,154 6,573 79,727 (29,075 ) 4,845 (24,230 ) Balance at the end of the period $ (265,477 ) $ (197,185 ) $ (462,662 ) $ (279,668 ) $ (150,193 ) $ (429,861 )

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
	Sep. 30, 2017
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, 2017 and December 31, 2016, consistent with the fair value hierarchy: September 30, 2017 December 31, 2016 Fair Value Fair Value (In thousands) Fixed-income investments $ 7,896 $ 7,317
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, 2017 and December 31, 2016: September 30, 2017 December 31, 2016 Recorded Fair Value Recorded Fair Value (In thousands) Short-term borrowings, net $ — $ — $ — $ — Long-term debt, net (including current portion) (2,430,446 ) (2,456,920 ) (2,341,565 ) (2,386,901 )

Inventories, net (Tables)

Inventories, net (Tables)	9 Months Ended
	Sep. 30, 2017
Inventory Disclosure [Abstract]
Inventories	September 30, December 31, 2017 2016 (In thousands) Finished goods and parts $ 79,897 $ 75,827 Work in process 118,979 101,484 Raw materials and purchased parts 348,000 314,793 Total inventories, net $ 546,876 $ 492,104

Acquisitions (Tables)

Acquisitions (Tables)	9 Months Ended
	Sep. 30, 2017
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 2017 acquisitions based on their estimated fair values at acquisition (in millions): Property, plant and equipment $ 21.5 Goodwill 256.4 Other intangible assets 269.5 Long-term liabilities (10.6 ) Deferred income taxes (27.2 ) Net working capital and other (1) 34.5 Total purchase price 544.1 Less: Contingent payment liability (25.5 ) Total cash paid $ 518.6 (1) Includes $30.7 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, 2017
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- mechanical Total (In millions) Balance at December 31, 2016 $ 1,817.0 $ 1,002.0 $ 2,819.0 Goodwill acquired 256.4 — 256.4 Purchase price allocation adjustments and other 0.1 0.6 0.7 Foreign currency translation adjustments 31.2 31.4 62.6 Balance at September 30, 2017 $ 2,104.7 $ 1,034.0 $ 3,138.7

Income Taxes (Tables)

Income Taxes (Tables)	9 Months Ended
	Sep. 30, 2017
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, 2016 $ 57.9 Additions for tax positions 8.7 Reductions for tax positions (8.1 ) Balance at September 30, 2017 $ 58.5

Share-Based Compensation (Table

Share-Based Compensation (Tables)	9 Months Ended
	Sep. 30, 2017
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Total Share-Based Compensation Expense	Total share-based compensation expense was as follows: Three Months Ended Nine Months Ended September 30, September 30, 2017 2016 2017 2016 (In thousands) Stock option expense $ 2,482 $ 2,311 $ 7,449 $ 7,634 Restricted stock expense 3,094 3,047 12,240 8,759 Total pre-tax $ 5,576 $ 5,358 $ 19,689 $ 16,393
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 September 30, 2017 December 31, 2016 Expected volatility 18.0 % 21.8 % Expected term (years) 5.0 5.0 Risk-free interest rate 1.94 % 1.23 % Expected dividend yield 0.60 % 0.77 % Black-Scholes-Merton fair value per stock option granted $ 11.05 $ 9.14
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, 2016 6,011 $ 42.25 Granted 1,331 60.32 Exercised (1,388 ) 30.96 Forfeited (180 ) 52.17 Expired (8 ) 52.10 Outstanding at September 30, 2017 5,766 $ 48.81 4.4 $ 99.3 Exercisable at September 30, 2017 3,010 $ 43.74 3.1 $ 67.1
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 Fair Value (In thousands) Nonvested restricted stock outstanding at December 31, 2016 1,019 $ 48.59 Granted 335 60.24 Vested (317 ) 47.41 Forfeited (66 ) 51.33 Nonvested restricted stock outstanding at September 30, 2017 971 $ 53.32

Retirement and Pension Plans (T

Retirement and Pension Plans (Tables)	9 Months Ended
	Sep. 30, 2017
Retirement Benefits [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 2017 2016 2017 2016 (In thousands) Defined benefit plans: Service cost $ 1,919 $ 1,628 $ 5,657 $ 4,956 Interest cost 6,904 7,448 20,566 22,688 Expected return on plan assets (13,343 ) (12,693 ) (39,884 ) (38,639 ) Amortization of net actuarial loss and other 3,512 2,484 10,536 7,452 Pension income (1,008 ) (1,133 ) (3,125 ) (3,543 ) Other plans: Defined contribution plans 5,830 5,660 18,788 18,537 Foreign plans and other 1,435 1,525 4,323 4,203 Total other plans 7,265 7,185 23,111 22,740 Total net pension expense $ 6,257 $ 6,052 $ 19,986 $ 19,197

Product Warranties (Tables)

Product Warranties (Tables)	9 Months Ended
	Sep. 30, 2017
Guarantees and Product Warranties [Abstract]
Changes in Accrued Product Warranty Obligation	Changes in the accrued product warranty obligation were as follows: Nine Months Ended 2017 2016 (In thousands) Balance at the beginning of the period $ 22,007 $ 22,761 Accruals for warranties issued during the period 12,235 9,630 Settlements made during the period (13,690 ) (11,697 ) Warranty accruals related to acquired businesses and other during the period 2,372 1,233 Balance at the end of the period $ 22,924 $ 21,927

Restructuring Charges (Tables)

Restructuring Charges (Tables)	9 Months Ended
	Sep. 30, 2017
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 fourth quarter of 2016 and fourth quarter of 2015 restructuring charges as follows (in millions): Fourth Quarter of 2016 Fourth Quarter of 2015 Balance at December 31, 2016 $ 19.2 $ 9.2 Utilization (5.4 ) (1.7 ) Foreign currency translation adjustments and other 0.1 (0.1 ) Balance at September 30, 2017 $ 13.9 $ 7.4

Recent Accounting Pronounceme35

Recent Accounting Pronouncements - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended	9 Months Ended
	Sep. 30, 2017	Sep. 30, 2017
Accounting Standards Update 2016-09 [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Provision for income taxes related to the tax effects of share-based payment transactions	$ 2.5	$ 11.4

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, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Weighted average shares:
Basic shares	230,439	231,894	230,049	233,387
Equity-based compensation plans	1,814	827	1,566	1,189
Diluted shares	232,253	232,721	231,615	234,576

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, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance at the beginning of the period			$ 3,256,513
Other comprehensive income (loss) before reclassifications:
Translation adjustments	$ 37,642	$ (10,441)	101,846	$ (26,581)
Change in long-term intercompany notes	12,035	3,063	30,727	6,862
Net investment hedge instruments	(32,422)	(1,212)	(95,311)	(14,393)
Gross amounts reclassified from accumulated other comprehensive income (loss)	3,512	2,484	10,536	7,452
Income tax benefit (expense)	10,869	(446)	31,929	2,430
Other comprehensive income (loss), net of tax	31,636	(6,552)	79,727	(24,230)
Balance at the end of the period	3,766,155		3,766,155
Foreign Currency Items and Other [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance at the beginning of the period	(294,922)	(271,501)	(338,631)	(250,593)
Other comprehensive income (loss) before reclassifications:
Translation adjustments	37,642	(10,441)	101,846	(26,581)
Change in long-term intercompany notes	12,035	3,063	30,727	6,862
Net investment hedge instruments	(32,422)	(1,212)	(95,311)	(14,393)
Income tax benefit (expense)	12,190	423	35,892	5,037
Other comprehensive income (loss), net of tax	29,445	(8,167)	73,154	(29,075)
Balance at the end of the period	(265,477)	(279,668)	(265,477)	(279,668)
Defined Benefit Pension Plans [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance at the beginning of the period	(199,376)	(151,808)	(203,758)	(155,038)
Other comprehensive income (loss) before reclassifications:
Gross amounts reclassified from accumulated other comprehensive income (loss)	3,512	2,484	10,536	7,452
Income tax benefit (expense)	(1,321)	(869)	(3,963)	(2,607)
Other comprehensive income (loss), net of tax	2,191	1,615	6,573	4,845
Balance at the end of the period	(197,185)	(150,193)	(197,185)	(150,193)
Accumulated Other Comprehensive Loss [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance at the beginning of the period	(494,298)	(423,309)	(542,389)	(405,631)
Other comprehensive income (loss) before reclassifications:
Balance at the end of the period	$ (462,662)	$ (429,861)	$ (462,662)	$ (429,861)

Fair Value Measurements - Fair

Fair Value Measurements - Fair Value of Assets Measured on Recurring Basis (Detail) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed-income investments	$ 7,896	$ 7,317

Fair Value Measurements - Addit

Fair Value Measurements - Additional Information (Detail) - USD ($)	Sep. 30, 2017	Sep. 30, 2016
Fair Value Disclosures [Abstract]
Fair Value, Assets, Level 1 to Level 2 Transfers, Amount	$ 0	$ 0
Fair Value, Assets, Level 2 to Level 1 Transfers, Amount	$ 0	$ 0

Fair Value Measurements - Fai40

Fair Value Measurements - Fair Value Disclosures of Financial Instrument Liabilities (Detail) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Recorded Amount [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Short-term borrowings, net	$ 0	$ 0
Long-term debt, net (including current portion)	(2,430,446)	(2,341,565)
Fair Value [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Short-term borrowings, net	0	0
Long-term debt, net (including current portion)	$ (2,456,920)	$ (2,386,901)

Hedging Activities - Additional

Hedging Activities - Additional Information (Detail) - Foreign Exchange Contract [Member] - Designated as Hedging Instrument [Member] $ in Millions	9 Months Ended
	Sep. 30, 2017USD ($)
Derivative [Line Items]
Percentage of effectiveness on net investment hedges	100.00%
Currency remeasurement losses	$ (95.3)
British-Pound-Denominated Loans [Member]
Derivative [Line Items]
Hedge against net investment in foreign subsidiaries	408.7
Euro Loan [Member]
Derivative [Line Items]
Hedge against net investment in foreign subsidiaries	$ 590.7

Inventories, net - Inventories

Inventories, net - Inventories (Detail) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Inventory Disclosure [Abstract]
Finished goods and parts	$ 79,897	$ 75,827
Work in process	118,979	101,484
Raw materials and purchased parts	348,000	314,793
Total inventories, net	$ 546,876	$ 492,104

Acquisitions - Additional Infor

Acquisitions - Additional Information (Detail) - USD ($)	Sep. 30, 2017	Sep. 30, 2017	Sep. 30, 2016
Business Acquisition [Line Items]
Purchases of businesses, net of cash acquired		$ 518,634,000	$ 359,976,000
Total other intangible assets acquired	$ 269,500,000	269,500,000
Indefinite-lived intangible trade names acquired		53,600,000
Finite-lived intangible assets acquired		215,900,000
Customer Relationship [Member]
Business Acquisition [Line Items]
Finite-lived intangible assets acquired		$ 162,000,000
Amortization period for finite-lived intangible asset		18 years
Purchased Technology [Member]
Business Acquisition [Line Items]
Finite-lived intangible assets acquired		$ 53,900,000
Amortization period for finite-lived intangible asset		18 years
Rauland Borg and MOCON [Member]
Business Acquisition [Line Items]
Purchases of businesses, net of cash acquired	518,600,000	$ 518,634,000
Goodwill recorded in connection with acquisitions	146,000,000	146,000,000
Total other intangible assets acquired	269,500,000	269,500,000
Future amortization expense, 2017	12,000,000	12,000,000
Future amortization expense, 2018	12,000,000	12,000,000
Future amortization expense, 2019	12,000,000	12,000,000
Future amortization expense, 2020	12,000,000	12,000,000
Future amortization expense, 2021	12,000,000	12,000,000
Contingent payment liability	25,500,000	25,500,000
Rauland-Borg [Member]
Business Acquisition [Line Items]
Maximum contingent payment for acquisition	30,000,000	30,000,000
Minimum contingent payment for acquisition	0	0
Rauland-Borg [Member] | Fair Value, Inputs, Level 3 [Member]
Business Acquisition [Line Items]
Contingent payment liability	25,500,000	$ 25,500,000
Change in contingent payment liability	$ 0

Acquisitions - Allocation of Ag

Acquisitions - Allocation of Aggregate Purchase Price of Acquired Net Assets (Detail) - USD ($) $ in Thousands	Sep. 30, 2017	Sep. 30, 2017	Sep. 30, 2016	Dec. 31, 2016
Business Acquisition [Line Items]
Goodwill	$ 3,138,742	$ 3,138,742		$ 2,818,950
Other intangible assets	269,500	269,500
Total cash paid		518,634	$ 359,976
Rauland Borg and MOCON [Member]
Business Acquisition [Line Items]
Property, plant and equipment	21,500	21,500
Goodwill	256,400	256,400
Other intangible assets	269,500	269,500
Long-term liabilities	(10,600)	(10,600)
Deferred income taxes	(27,200)	(27,200)
Net working capital and other	34,500	34,500
Total purchase price	544,100
Less: Contingent payment liability	(25,500)	(25,500)
Total cash paid	$ 518,600	$ 518,634

Acquisitions - Allocation of 45

Acquisitions - Allocation of Aggregate Purchase Price of Acquired Net Assets (Parenthetical) (Detail) $ in Millions	Sep. 30, 2017USD ($)
Rauland Borg and MOCON [Member]
Business Acquisition [Line Items]
Accounts receivable included in purchase price	$ 30.7

Goodwill - Changes in Carrying

Goodwill - Changes in Carrying Amounts of Goodwill by Segment (Detail) $ in Thousands	9 Months Ended
	Sep. 30, 2017USD ($)
Goodwill [Line Items]
Goodwill, beginning balance	$ 2,818,950
Goodwill acquired	256,400
Purchase price allocation adjustments and other	700
Foreign currency translation adjustments	62,600
Goodwill, ending balance	3,138,742
Electronic Instruments Group [Member]
Goodwill [Line Items]
Goodwill, beginning balance	1,817,000
Goodwill acquired	256,400
Purchase price allocation adjustments and other	100
Foreign currency translation adjustments	31,200
Goodwill, ending balance	2,104,700
Electromechanical Group [Member]
Goodwill [Line Items]
Goodwill, beginning balance	1,002,000
Purchase price allocation adjustments and other	600
Foreign currency translation adjustments	31,400
Goodwill, ending balance	$ 1,034,000

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail) - USD ($) $ in Millions	Sep. 30, 2017	Dec. 31, 2016
Income Tax Disclosure [Abstract]
Gross unrecognized tax benefits	$ 58.5	$ 57.9
The total amount of unrecognized tax benefits that would impact tax rate, if recognized	$ 49

Income Taxes - Reconciliation o

Income Taxes - Reconciliation of Liability for Uncertain Tax Positions (Detail) $ in Millions	9 Months Ended
	Sep. 30, 2017USD ($)
Income Tax Disclosure [Abstract]
Balance at December 31, 2016	$ 57.9
Additions for tax positions	8.7
Reductions for tax positions	(8.1)
Balance at September 30, 2017	$ 58.5

Share-Based Compensation - Tota

Share-Based Compensation - Total Share-Based Compensation Expense (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Stock option expense	$ 2,482	$ 2,311	$ 7,449	$ 7,634
Restricted stock expense	3,094	3,047	12,240	8,759
Total pre-tax expense	$ 5,576	$ 5,358	$ 19,689	$ 16,393

Share-Based Compensation - Addi

Share-Based Compensation - Additional Information (Detail) - USD ($) shares in Thousands, $ in Millions	9 Months Ended
	Sep. 30, 2017	Dec. 31, 2016
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Aggregate intrinsic value of stock options exercised	$ 37.4
Total fair value of stock options vested	12.4
Expected future pre-tax compensation expense, nonvested stock options	$ 24
Nonvested stock option outstanding	2,800
Weighted average period to recognize expected future pre-tax compensation expense (in years)	2 years
Executive Chairman of the Board of Directors [Member] | Corporate Administrative Expenses [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Pre-tax share-based compensation expense	$ 2.5
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
Total fair value of vested restricted stock	$ 15
Expected future pre-tax compensation expense, nonvested restricted shares	$ 32
Nonvested restricted stock outstanding	971	1,019

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, 2017	Dec. 31, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Expected volatility	18.00%	21.80%
Expected term (years)	5 years	5 years
Risk-free interest rate	1.94%	1.23%
Expected dividend yield	0.60%	0.77%
Black-Scholes-Merton fair value per stock option granted	$ 11.05	$ 9.14

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, 2017USD ($)$ / sharesshares
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Beginning balance, Outstanding, Shares | shares	6,011
Granted, Shares | shares	1,331
Exercised, Shares | shares	(1,388)
Forfeited, Shares | shares	(180)
Expired, Shares | shares	(8)
Ending balance, Outstanding, Shares | shares	5,766
Ending balance, Exercisable, Shares | shares	3,010
Beginning balance, Outstanding, Weighted Average Exercise Price | $ / shares	$ 42.25
Granted, Weighted Average Exercise Price | $ / shares	60.32
Exercised, Weighted Average Exercise Price | $ / shares	30.96
Forfeited, Weighted Average Exercise Price | $ / shares	52.17
Expired, Weighted Average Exercise Price | $ / shares	52.10
Ending balance, Outstanding, Weighted Average Exercise Price | $ / shares	48.81
Ending balance, Exercisable, Weighted Average Exercise Price | $ / shares	$ 43.74
Ending balance, Outstanding, Weighted Average Remaining Contractual Life (Years)	4 years 4 months 24 days
Ending balance, Exercisable, Weighted Average Remaining Contractual Life (Years)	3 years 1 month 6 days
Ending balance, Outstanding, Aggregate Intrinsic Value | $	$ 99.3
Ending balance, Exercisable, Aggregate Intrinsic Value | $	$ 67.1

Share-Based Compensation - Su53

Share-Based Compensation - Summary of Nonvested Restricted Stock Activity and Related Information (Detail) - Restricted Shares [Member] shares in Thousands	9 Months Ended
	Sep. 30, 2017$ / sharesshares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Beginning balance, Nonvested restricted stock outstanding | shares	1,019
Granted | shares	335
Vested | shares	(317)
Forfeited | shares	(66)
Ending balance, Nonvested restricted stock outstanding | shares	971
Beginning balance, Nonvested, Weighted Average Grant Date Fair Value | $ / shares	$ 48.59
Granted, Weighted Average Grant Date Fair Value | $ / shares	60.24
Vested, Weighted Average Grant Date Fair Value | $ / shares	47.41
Forfeited, Weighted Average Grant Date Fair Value | $ / shares	51.33
Ending balance, Nonvested, Weighted Average Grant Date Fair Value | $ / shares	$ 53.32

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, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Defined benefit plans:
Service cost	$ 1,919	$ 1,628	$ 5,657	$ 4,956
Interest cost	6,904	7,448	20,566	22,688
Expected return on plan assets	(13,343)	(12,693)	(39,884)	(38,639)
Amortization of net actuarial loss and other	3,512	2,484	10,536	7,452
Pension income	(1,008)	(1,133)	(3,125)	(3,543)
Other plans:
Defined contribution plans	5,830	5,660	18,788	18,537
Foreign plans and other	1,435	1,525	4,323	4,203
Total other plans	7,265	7,185	23,111	22,740
Total net pension expense	$ 6,257	$ 6,052	$ 19,986	$ 19,197

Retirement and Pension Plans 55

Retirement and Pension Plans - Additional Information (Detail) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016
Retirement Benefits [Abstract]
Defined benefit pension plan contributions	$ 52.5	$ 3

Product Warranties - Additional

Product Warranties - Additional Information (Detail)	9 Months Ended
	Sep. 30, 2017
Product Warranties Disclosures [Abstract]
Product warranty description	The Company provides limited warranties in connection with the sale of its products. The warranty periods for products sold vary among the Company's operations, but generally 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, 2017	Sep. 30, 2016
Guarantees [Abstract]
Balance at the beginning of the period	$ 22,007	$ 22,761
Accruals for warranties issued during the period	12,235	9,630
Settlements made during the period	(13,690)	(11,697)
Warranty accruals related to acquired businesses and other during the period	2,372	1,233
Balance at the end of the period	$ 22,924	$ 21,927

Contingencies - Additional Info

Contingencies - Additional Information (Detail) $ in Millions	Sep. 30, 2017USD ($)site	Sep. 30, 2017USD ($)site	Dec. 31, 2016USD ($)
Site Contingency [Line Items]
Number of non-owned sites Company is named Potentially Responsible Party | site	13	13
Number of non-owned sites the Company is identified as a de minimis party | site	12	12
Number of non-owned sites Company has reached tentative settlement agreement | site	8	8
Number of non-owned sites Company is still working to establish settlement amount | site	4	4
Total environmental reserves	$ 27.8	$ 27.8	$ 28.4
Increase (decrease) in environmental reserves		3.5
Total expenses related to environmental matters		4.4
Foreign currency translation		0.3
HCC Industries [Member]
Site Contingency [Line Items]
Reserves related to an owned site acquired	11.9	11.9	$ 12.4
Receivables related to HCC for probable recoveries from third-party funds	12	$ 12
Amount for which the Company is indemnified by HCC's former owners	$ 19

Reportable Segments - Additiona

Reportable Segments - Additional Information (Detail)	9 Months Ended
	Sep. 30, 2017Segment
Segment Reporting [Abstract]
Number of reportable segments	2

Stockholders' Equity - Addition

Stockholders' Equity - Additional Information (Detail)	9 Months Ended
	Sep. 30, 2017Right
Statement of Stockholders' Equity [Abstract]
Stockholders right expiration date	2017-06
Number of rights per common share declared under the Shareholder Rights Plan	1

Restructuring Charges - Additio

Restructuring Charges - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Restructuring Cost and Reserve [Line Items]
Reduction in net income due to restructuring charges	$ 17	$ 13.9
Restructuring charges	25.6	20.7
Severance cost	19.3
Asset write-downs	6.2
Electronic Instruments Group [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges	12.4	9.3
Electromechanical Group [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges	11.6	10.8
Cost of Sales, Excluding Depreciation [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges	24	20
Selling, General and Administrative Expenses [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges	1.6	0.7
Corporate Administrative Expenses [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges	$ 1.6	$ 0.7

Restructuring Charges - Schedul

Restructuring Charges - Schedule of Accrued Liabilities in Company's Consolidated Balance Sheet Included Amounts Related to Restructuring Charges (Detail) $ in Millions	9 Months Ended
	Sep. 30, 2017USD ($)
Fourth Quarter of 2016 Restructuring [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring reserve, beginning balance	$ 19.2
Utilization	(5.4)
Foreign currency translation adjustments and other	0.1
Restructuring reserve, ending balance	13.9
Fourth Quarter of 2015 Restructuring [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring reserve, beginning balance	9.2
Utilization	(1.7)
Foreign currency translation adjustments and other	(0.1)
Restructuring reserve, ending balance	$ 7.4