AMETEK (AME) 10-Q 2 May 19 2019 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2019	Apr. 25, 2019
Document and Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Mar. 31, 2019
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	Q1
Entity Registrant Name	AMETEK INC/
Entity Central Index Key	0001037868
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Trading Symbol	AME
Entity Common Stock, Shares Outstanding		227,840,918
Entity Emerging Growth Company	false
Entity Small Business	false

Consolidated Statement of Incom

Consolidated Statement of Income - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Income Statement [Abstract]
Net sales	$ 1,287,691	$ 1,172,647
Cost of sales	851,307	776,800
Selling, general and administrative	153,125	137,679
Total operating expenses	1,004,432	914,479
Operating income	283,259	258,168
Interest expense	(22,653)	(21,686)
Other expense, net	(3,668)	(658)
Income before income taxes	256,938	235,824
Provision for income taxes	52,670	54,484
Net income	$ 204,268	$ 181,340
Basic earnings per share	$ 0.90	$ 0.79
Diluted earnings per share	$ 0.89	$ 0.78
Weighted average common shares outstanding:
Basic shares	226,861	230,928
Diluted shares	228,686	232,965
Dividends declared and paid per share	$ 0.14	$ 0.14

Consolidated Statement of Compr

Consolidated Statement of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Statement of Comprehensive Income [Abstract]
Total comprehensive income	$ 215,281	$ 195,758

Consolidated Balance Sheet

Consolidated Balance Sheet - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Current assets:
Cash and cash equivalents	$ 368,065	$ 353,975
Receivables, net	763,156	732,839
Inventories, net	640,580	624,744
Other current assets	152,843	124,586
Total current assets	1,924,644	1,836,144
Property, plant and equipment, net	542,679	554,130
Right of use assets, net	182,182
Goodwill	3,610,277	3,612,033
Other intangibles, net	2,369,539	2,403,771
Investments and other assets	262,162	256,210
Total assets	8,891,483	8,662,288
Current liabilities:
Short-term borrowings and current portion of long-term debt, net	104,157	358,876
Accounts payable	405,648	399,571
Customer advanced payments	136,361	137,229
Income taxes payable	39,941	48,597
Accrued liabilities and other	321,121	314,431
Total current liabilities	1,007,228	1,258,704
Long-term debt, net	2,368,197	2,273,837
Deferred income taxes	545,862	528,336
Other long-term liabilities	513,575	359,489
Total liabilities	4,434,862	4,420,366
Stockholders' equity:
Common stock	2,647	2,640
Capital in excess of par value	738,173	706,743
Retained earnings	5,826,313	5,653,811
Accumulated other comprehensive loss	(540,075)	(551,088)
Treasury stock	(1,570,437)	(1,570,184)
Total stockholders' equity	4,456,621	4,241,922
Total liabilities and stockholders' equity	$ 8,891,483	$ 8,662,288

Consolidated Statement of Stock

Consolidated Statement of Stockholders' Equity - USD ($) $ in Thousands	Total	Capital Stock [Member]	Capital in Excess of Par Value [Member]	Retained Earnings [Member]	Foreign Currency Items and Other [Member]	Defined Benefit Pension Plans [Member]	Unrealized Holding Gain (Loss) on Available-for-Sale securities [Member]	Accumulated Other Comprehensive (Loss) Income [Member]	Treasury Stock [Member]
Balance at the beginning of the year at Dec. 31, 2017		$ 2,631	$ 660,894	$ 5,002,419	$ (251,909)	$ (177,371)	$ 104		$ (1,209,135)
Issuance of common stock under employee stock plans			7,051						(1,464)
Net income	$ 181,340			181,340
Translation adjustments					29,581
Shares issued		3
Increase (decrease) during the year, net of tax							$ (104)
Share-based compensation costs			5,571
Cash dividends paid				(32,302)
Change in long-term intercompany notes					5,404
Amortization of net actuarial loss (gain) and other, net of tax of ($873) and ($719) for the period ended March 31, 2019 and 2018, respectively						2,233
Purchase of treasury stock									(118)
Other				2,265
Net investment hedge instruments gain (loss), net of tax of ($1,130) and $7,342 for period ended March 31, 2019 and 2018, respectively					(22,696)
Balance at the end of the year at Mar. 31, 2018	4,204,397	2,634	673,516	5,153,722	(239,620)	(175,138)		$ (414,758)	(1,210,717)
Balance at the beginning of the year at Dec. 31, 2018	4,241,922	2,640	706,743	5,653,811	(302,138)	(248,950)			(1,570,184)
Issuance of common stock under employee stock plans			24,309						(116)
Net income	204,268			204,268
Translation adjustments					8,964
Shares issued		7
Share-based compensation costs			7,121
Cash dividends paid				(31,766)
Change in long-term intercompany notes					(4,416)
Amortization of net actuarial loss (gain) and other, net of tax of ($873) and ($719) for the period ended March 31, 2019 and 2018, respectively						2,957
Purchase of treasury stock									(137)
Net investment hedge instruments gain (loss), net of tax of ($1,130) and $7,342 for period ended March 31, 2019 and 2018, respectively					3,508
Balance at the end of the year at Mar. 31, 2019	$ 4,456,621	$ 2,647	$ 738,173	$ 5,826,313	$ (294,082)	$ (245,993)		$ (540,075)	$ (1,570,437)

Consolidated Statement of Sto_2

Consolidated Statement of Stockholders' Equity (Parenthetical) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Statement of Stockholders' Equity [Abstract]
Preferred stock, par value	$ 0.01	$ 0.01
Common stock, par value	$ 0.01	$ 0.01
Tax benefit (expense) from investment hedge instruments	$ (1,130)	$ 7,342
Tax related to amortization of net actuarial loss (gain)	$ (873)	$ (719)

Condensed Consolidated Statemen

Condensed Consolidated Statement of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Operating activities:
Net income	$ 204,268	$ 181,340
Adjustments to reconcile net income to total operating activities:
Depreciation and amortization	57,500	48,834
Deferred income taxes	12,739	6,761
Share-based compensation expense	7,121	5,571
Gain on sale of facilities	(735)
Net change in assets and liabilities, net of acquisitions	(84,167)	(62,189)
Pension contributions	(715)	(698)
Other, net	246	(2,217)
Total operating activities	196,257	177,402
Investing activities:
Additions to property, plant and equipment	(21,417)	(12,270)
Purchases of businesses, net of cash acquired		(242,081)
Other, net	3,667	777
Total investing activities	(17,750)	(253,574)
Financing activities:
Net change in short-term borrowings	(256,286)
Proceeds from long-term borrowings	100,000
Repurchases of common stock	(137)	(118)
Cash dividends paid	(31,766)	(32,302)
Proceeds from stock option exercises	24,929	9,594
Other, net	(2,605)	(4,229)
Total financing activities	(165,865)	(27,055)
Effect of exchange rate changes on cash and cash equivalents	1,448	13,703
Increase (decrease) in cash and cash equivalents	14,090	(89,524)
Cash and cash equivalents:
Beginning of period	353,975	646,300
End of period	$ 368,065	$ 556,776

Basis of Presentation

Basis of Presentation	3 Months Ended
	Mar. 31, 2019
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 March 31, 2019, the consolidated results of its operations and its cash flows for the three months ended March 31, 2019 and 2018 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 for the year ended December 31, 2018 as filed with the U.S. Securities and Exchange Commission. As discussed below in Note 2, effective January 1, 2019, the Company adopted the requirements of Financial Accounting Standards Board (“FASB”) Accounting Standards Update (“ASU”) No. 2016-02 (Topic 842), Leases (“ASU 2016-02”) using the effective date transition method. Amounts and disclosures set forth in this Form 10-Q reflect this change.

Recent Accounting Pronouncement

Recent Accounting Pronouncements	3 Months Ended
	Mar. 31, 2019
Accounting Changes and Error Corrections [Abstract]
Recent Accounting Pronouncements	2. Recent Accounting Pronouncements In February 2016, the FASB issued ASU No. 2016-02 Leases (ASC 842). In July 2018, the FASB issued ASU No. 2018-10, “Codification Improvements to Topic 842, Leases” (ASU 2018-10), which provides narrow amendments to clarify how to apply certain aspects of the new lease standard, and ASU No. 2018-11, “Leases (Topic 842)—Targeted Improvements” (ASU 2018-11), which addressed implementation issues related to the new lease standard. These and certain other lease-related ASUs have generally been codified in ASC 842. ASC 842 supersedes the lease accounting requirements in Accounting Standards Codification Topic 840, Leases (ASC 840). ASC 842 establishes a right-of-use model that requires a lessee to record a right-of-use (“ROU”) asset and a lease liability on the balance sheet for all leases. Under ASC 842, leases are classified as either finance or operating, with classification affecting the pattern of expense recognition in the income statement. The standard also requires disclosures to help investors and other financial statement users better understand the amount, timing and uncertainty of cash flows arising from leases. The Company adopted ASC 842 on January 1, 2019 using the effective date transition method. Prior period results continue to be presented under ASC 840 based on the accounting standards originally in effect for such periods. T See Note 8. In February 2018, the FASB issued ASU No. 2018-02, Income Statement – Reporting Comprehensive Income (Topic 220), Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income earnings. In August 2018, the FASB issued ASU No. 2018-13, Fair Value Measurement (“ASU 2018-13”), which changes the fair value measurement disclosure requirements of ASC Topic 820, Fair Value Measurement (“ASC 820”), by eliminating, modifying and adding to those requirements. ASU 2018-13 also modifies the disclosure objective paragraphs of ASC 820 to eliminate (1) “at a minimum” from the phrase “an entity shall disclose at a minimum” and (2) other similar “open ended” disclosure requirements to promote the appropriate exercise of discretion by entities. ASU 2018-13 is effective for fiscal years beginning after December 15, 2019, including interim periods therein. Early adoption is permitted. The Company has not determined the impact ASU 2018-13 may have on the Company’s consolidated financial statement disclosures. In August 2018, the FASB issued ASU No. 2018-14, Compensation – Retirement Benefits – Defined Benefit Plans – General (“ASU 2018-14”), which changes the disclosure requirements of ASC Topic 715, Compensation – Retirement Benefits , by eliminating, modifying and adding to those requirements. ASU 2018-14 is effective for fiscal years beginning after December 15, 2020. Early adoption is permitted and the amendments in this ASU should be applied on a retrospective basis to all periods presented. The Company has not determined the impact ASU 2018-14 may have on the Company’s consolidated financial statement disclosures. In August 2018, the FASB issued ASU No. 2018-15, Intangibles – Goodwill and Other – Internal-Use Software (“ASU 2018-15”), that requires implementation costs incurred by customers in cloud computing arrangements to be deferred and recognized over the term of the arrangement, if those costs would be capitalized by the customer in a software licensing arrangement under the internal-use software guidance in ASC Topic 350, Intangibles – Goodwill and Other . ASU 2018-15 requires a customer to disclose the nature of its hosting arrangements that are service contracts and provide disclosures as if the deferred implementation costs were a separate, major depreciable asset class. ASU 2018-15 is effective for interim and annual periods beginning after December 15, 2019. Early adoption is permitted. The Company has not determined the impact ASU 2018-15 may have on the Company’s consolidated results of operations, financial position, cash flows and financial statement disclosures.

Revenues

Revenues	3 Months Ended
	Mar. 31, 2019
Revenue from Contract with Customer [Abstract]
Revenue from Contract with Customer [Text Block]	3. Revenues The Company adopted ASC 606 as of January 1, 2018 using the modified retrospective method. The cumulative adjustment made to the January 1, 2018 consolidated balance sheet for the adoption of ASC 606 was to increase Retained earnings by $4.2 million, increase Total assets by $7.9 million and increase Total liabilities by $3.7 million. The outstanding contract asset and (liability) accounts were as follows: 2019 2018 (In thousands) Contract assets – January 1 $ 58,266 $ 32,658 Contract assets – March 31 76,323 41,722 Change in contract assets – increase 18,057 9,064 Contract liabilities – January 1 146,162 117,058 Contract liabilities – March 31 147,776 142,016 Change in contract liabilities – increase (1,614 ) (24,958 ) Net change $ 16,443 $ (15,894 ) The net change was driven by higher contract assets and a decrease in contract liabilities during the quarter. For the three months ended March 31, 2019 and 2018, the Company recognized revenue of $77.2 million and $70.0 million, respectively, that was previously included in the beginning balance of contract liabilities. Contract assets are reported as a component of Other current assets in the consolidated balance sheet. At March 31, 2019 and December 31, 2018, $11.4 million and $8.9 million of Customer advanced payments (contract liabilities), respectively, were recorded in Other long-term liabilities in the consolidated balance sheets. Remaining performance obligations exceeding one year as of March 31, 2019 and December 31, 2018 were $183.7 million and $187.2 million, respectively. Remaining performance obligations represent the transaction price of firm, noncancelable orders, with expected delivery dates to customers greater than one year from the balance sheet date, for which the performance obligation is unsatisfied or partially unsatisfied. These performance obligations will be substantially satisfied within two to three years. Geographic Areas Information about the Company’s operations in different geographic areas for the three months ended March 31, 2019 is shown below. Net sales were attributed to geographic areas based on the location of the customer. Three months ended March 31, 2019 EIG EMG Total (In thousands) United States $ 403,392 $ 260,754 $ 664,146 International (1) : United Kingdom 15,427 33,888 49,315 European Union countries 102,785 106,419 209,204 Asia 193,847 47,111 240,958 Other foreign countries 91,460 32,608 124,068 Total international 403,519 220,026 623,545 Consolidated net sales $ 806,911 $ 480,780 $ 1,287,691 (1) Includes U.S. export sales of $325.4 million. Information about the Company’s operations in different geographic areas for the three months ended March 31, 2018 is shown below. Net sales were attributed to geographic areas based on the location of the customer. Three months ended March 31, 2018 EIG EMG Total (In thousands) United States $ 329,076 $ 230,864 $ 559,940 International (1) : United Kingdom 13,740 35,383 49,123 European Union countries 92,302 107,814 200,116 Asia 191,485 51,063 242,548 Other foreign countries 89,823 31,097 120,920 Total international 387,350 225,357 612,707 Consolidated net sales $ 716,426 $ 456,221 $ 1,172,647 (1) Includes U.S. export sales of $315.1 million. Major Products and Services The Company’s major products and services in the reportable segments were as follows: Three months ended March 31, 2019 EIG EMG Total (In thousands) Process and analytical instrumentation $ 577,340 $ — $ 577,340 Aerospace and power 229,571 118,878 348,449 Automation and engineered solutions — 361,902 361,902 Consolidated net sales $ 806,911 $ 480,780 $ 1,287,691 Three months ended March 31, 2018 EIG EMG Total (In thousands) Process and analytical instrumentation $ 499,637 $ — $ 499,637 Aerospace and power 216,789 108,657 325,446 Automation and engineered solutions — 347,564 347,564 Consolidated net sales $ 716,426 $ 456,221 $ 1,172,647 Timing of Revenue Recognition Three months ended March 31, 2019 EIG EMG Total (In thousands) Products transferred at a point in time $ 677,833 $ 435,605 $ 1,113,438 Products and services transferred over time 129,078 45,175 174,253 Consolidated net sales $ 806,911 $ 480,780 $ 1,287,691 Three months ended March 31, 2018 EIG EMG Total (In thousands) Products transferred at a point in time $ 625,422 $ 429,082 $ 1,054,504 Products and services transferred over time 91,004 27,139 118,143 Consolidated net sales $ 716,426 $ 456,221 $ 1,172,647 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 the majority 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. Product warranty obligations are reported as a component of Accrued liabilities in the consolidated balance sheet. Changes in the accrued product warranty obligation were as follows: Three Months Ended 2019 2018 (In thousands) Balance at the beginning of the period $ 23,482 $ 22,872 Accruals for warranties issued during the period 5,003 3,191 Settlements made during the period (4,789 ) (3,710 ) Warranty accruals related to acquired businesses and other during the period (81 ) 233 Balance at the end of the period $ 23,615 $ 22,586

Earnings Per Share

Earnings Per Share	3 Months Ended
	Mar. 31, 2019
Earnings Per Share [Abstract]
Earnings Per Share	4. 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). Three Months Ended 2019 2018 (In thousands) Weighted average shares: Basic shares 226,861 230,928 Equity-based compensation plans 1,825 2,037 Diluted shares 228,686 232,965

Fair Value Measurements

Fair Value Measurements	3 Months Ended
	Mar. 31, 2019
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, consistent with the fair value hierarchy, at March 31, 2019 and December 31, 2018: March 31, 2019 December 31, 2018 Fair Value Fair Value (In thousands) Fixed-income investments $ 7,951 $ 7,655 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 three months ended March 31, 2019 and 2018, gains and losses on the investments noted above were not significant. No transfers between level 1 and level 2 investments occurred during the three months ended March 31, 2019 and 2018. Financial Instruments Cash, cash equivalents and fixed-income investments are recorded at fair value at March 31, 2019 and December 31, 2018 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 March 31, 2019 and December 31, 2018: March 31, 2019 December 31, 2018 Recorded Amount Fair Value Recorded Amount Fair Value (In thousands) Long-term debt, net (including current portion) $ (2,473,385 ) $ (2,577,372 ) $ (2,378,809 ) $ (2,368,676 ) The fair value of short-term borrowings, net approximates the carrying value. Short-term borrowings, net are valued as level 2 liabilities as they are corroborated by observable market data. The Company’s long-term debt, net is all privately held with no public market for this debt, therefore, the fair value of long-term debt, net was computed based on comparable current market data for similar debt instruments and is considered to be a level 3 liability. Foreign Currency At March 31, 2019, the Company had no forward contracts outstanding. For the three months ended March 31, 2019, realized gains and losses on foreign currency forward contracts were not significant. The Company does not typically designate its foreign currency forward contracts as hedges.

Hedging Activities

Hedging Activities	3 Months Ended
	Mar. 31, 2019
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 March 31, 2019, these net investment hedges included British-pound-and Euro-denominated long-term debt. These borrowings were designed to create net investment hedges in each of the designated foreign subsidiaries. The Company designated the British-pound- and Euro-denominated loans referred to above as hedging instruments to offset translation gains or losses on the net investment due to changes in the British pound and Euro exchange rates. These net investment hedges are evidenced by management’s contemporaneous documentation supporting the hedge designation. Any gain or loss on the hedging instruments (the debt) following hedge designation is reported in accumulated other comprehensive income in the same manner as the translation adjustment on the hedged investment based on changes in the spot rate, which is used to measure hedge effectiveness. At March 31, 2019, the Company had $397.5 million of British-pound-denominated loans, which were designated as a hedge against the net investment in British pound functional currency foreign subsidiaries. At March 31, 2019, the Company had $645.6 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 Euro-denominated loans being designated and 100% effective as net investment hedges, $4.6 million of pre-tax currency remeasurement gains have been included in the foreign currency translation component of other comprehensive income for the three months ended March 31, 2019.

Inventories, net

Inventories, net	3 Months Ended
	Mar. 31, 2019
Inventory Disclosure [Abstract]
Inventories, net	7. Inventories, net March 31, December 31, (In thousands) Finished goods and parts $ 114,096 $ 107,289 Work in process 123,297 117,899 Raw materials and purchased parts 403,187 399,556 Total inventories, net $ 640,580 $ 624,744

Leases

Leases	3 Months Ended
	Mar. 31, 2019
Leases [Abstract]
Leases	8. Leases The Company determines if an arrangement is a lease at inception. This determination generally depends on whether the arrangement conveys to the Company the right to control the use of an explicitly or implicitly identified fixed asset for a period of time in exchange for consideration. Control of an underlying asset is conveyed to the Company if the Company obtains the rights to direct the use of and to obtain substantially all of the economic benefits from using the underlying asset. The Company has lease agreements which include lease and non-lease components, which the Company has elected to account for as a single lease component for all classes of underlying assets. Lease expense for variable lease components are recognized when the obligation is . Operating leases are included in ROU assets, accrued liabilities, and other long-term liabilities on our consolidated balance sheets. Operating lease ROU assets and liabilities are recognized at commencement date based on the present value of lease payments over the lease term. Operating lease payments are recognized as lease expense on a straight-line basis over the lease term. The Company has no material finance leases. The Company primarily leases buildings (real estate) and automobiles which are classified as operating leases. ASC 842 requires a lessee to discount its unpaid lease payments using the interest rate implicit in the lease or, if that rate cannot be readily determined, its incremental borrowing rate. As an implicit interest rate is not readily determinable in our leases, we use our incremental borrowing rate based on the information available at commencement date in determining the present value of lease payments. The lease term for all of the Company’s leases includes the non-cancellable period of the lease plus any additional periods covered by either a Company option to extend (or not to terminate) the lease that the Company is reasonably certain to exercise, or an option to extend (or not to terminate) the lease controlled by the lessor. Options for lease renewals have been excluded from the lease term (and lease liability) for the majority of the Company’s leases as the reasonably certain threshold is not met. In a small number of the Company’s leases, the options for renewals have been included in the lease term as the reasonably certain threshold is met due to the Company having significant economic incentive for extending the lease. Lease payments included in the measurement of the lease liability are comprised of fixed payments, variable payments that depend on index or rate, and amounts probable to be payable under the exercise of the Company option to purchase the underlying asset if reasonably certain. Variable lease payments not dependent on a rate or index associated with the Company’s leases are recognized when the event, activity, or circumstance in the lease agreement on which those payments are assessed lease payments are presented as operating expense in the Company’s income statement in the same line item as expense arising from fixed lease payments. The Company has commitments under operating leases for certain facilities, vehicles and equipment used in its operations. Our leases have initial lease terms ranging from one month to 14 years. Certain lease agreements contain provisions for future rent increases. The components of lease expense were as follows: Three Months Ended March 31, 2019 (In thousands) Operating lease cost $ 8,671 Variable lease cost 1,631 Total lease cost $ 10,302 Supplemental balance sheet information related to leases was as follows: March 31, 2019 (In thousands) Right of use assets, net $ 182,182 Lease liabilities included in Accrued liabilities and other 41,637 Lease liabilities included in Other long-term liabilities 146,936 Total lease liabilities $ 188,573 Supplemental cash flow information and other information related to leases was as follows: Three Months Ended March 31, 2019 (In thousands) Cash paid for amounts included in measurement of liabilities: Operating cash flows from operating leases $ 10,302 Right-of-use assets obtained in exchange for new operating liabilities $ 1,325 Weighted-average remaining lease terms—operating leases (years) 6.26 Weighted-average discount rate—operating leases 3.88 % Maturities of lease liabilities as of March 31, 2019 were as follows: Lease Liability Maturity Analysis Operating Leases (In thousands) Remaining 2019 $ 34,951 2020 41,117 2021 34,091 2022 27,840 2023 22,436 Thereafter 51,057 Total lease payments 211,492 Less: imputed interest 22,919 $ 188,573 The Company does not have any leases that have not yet commenced which are significant.

Goodwill

Goodwill	3 Months Ended
	Mar. 31, 2019
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill	9. Goodwill The changes in the carrying amounts of goodwill by segment were as follows: EIG EMG Total (In millions) Balance at December 31, 2018 $ 2,452.0 $ 1,160.0 $ 3,612.0 Goodwill acquired — — — Purchase price allocation adjustments and other (1.4 ) (0.3 ) (1.7 ) Foreign currency translation adjustments (0.1 ) 0.1 — Balance at March 31, 2019 $ 2,450.5 $ 1,159.8 $ 3,610.3 The Company is in the process of finalizing the measurement of certain tangible and intangible assets and liabilities for its fourth quarter of 2018 acquisitions of Forza, Telular and Spectro Scientific including inventory, property, plant and equipment, goodwill, trade names, customer relationships and purchased technology and the accounting for income taxes. The Company is in the process of finalizing the accounting for income taxes for its June 2018 acquisition of Motec.

Income Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2019
Income Tax Disclosure [Abstract]
Income Taxes	10. Income Taxes At March 31, 2019, the Company had gross unrecognized tax benefits of $123.7 million, of which $75.9 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, 2018 $ 119.3 Additions for tax positions 4.4 Reductions for tax positions — Balance at March 31, 2019 $ 123.7 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 months ended March 31, 2019 and 2018 were not significant. The effective tax rate for the first quarter of 2019 was 20.5%, compared with 23.1% for the first quarter of 2018. Both comparative quarters effective tax rates include the impact of the 2017 U.S. Tax Cuts and Jobs Act (the “Act”) including the reduction of the U.S. corporate income tax rate and the current impact of the global intangible low-taxed income (“GILTI”) and the foreign-derived intangible income (“FDII”) provisions. The lower rate for 2019 reflects higher year over year tax benefits related to share-based payment transactions as well as lower net tax costs on foreign GILTI income and foreign derived U.S. income.

Debt

Debt	3 Months Ended
	Mar. 31, 2019
Debt Disclosure [Abstract]
Debt	11. Debt In December 2018, the Company completed a private placement agreement to sell $575 million and 75 million Euros in senior notes to a group of institutional investors (the “2018 Private Placement”). There were two funding dates under the 2018 Private Placement. The first funding occurred in December 2018 for $475 million and 75 million Euros ($85.1 million). The second funding occurred in January 2019 for $100 million. The 2018 Private Placement senior notes carry a weighted average interest rate of 3.93% and 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 2018 Private Placement were used to pay down domestic borrowings under the Company’s revolving credit facility.

Share-Based Compensation

Share-Based Compensation	3 Months Ended
	Mar. 31, 2019
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Share-Based Compensation	12. Share-Based Compensation In March 2019, the Company granted 102,000 performance restricted stock units (“PRSUs”) to officers and certain key management-level employees. The PRSUs vest three years from the grant date based on continuous service, with the number of shares earned (0% to 200% of the target award) depending upon the extent to which the Company achieves certain financial and market performance targets measured over the period from January 1, 2019 through December 31, 2021. Half of the PRSUs were valued in a manner similar to restricted stock as the financial targets are based on the Company’s operating results. The grant date fair value of these PRSUs are recognized as compensation expense over the vesting period based on the number of awards expected to vest at each reporting date. The other half of the PRSUs were valued using a Monte Carlo model as the performance target is related to the Company’s total shareholder return compared to a group of peer companies. The Company recognizes the grant date fair value of these awards as compensation expense ratably over the vesting period. Total share-based compensation expense was as follows: Three 2019 2018 (In thousands) Stock option expense $ 2,773 $ 2,428 Restricted stock expense 3,717 3,076 PRSU expense 631 67 Total pre-tax expense $ 7,121 $ 5,571 Pre-tax share-based compensation expense is included in the consolidated statement of income in either Cost of sales or Selling, general and administrative expenses, depending on where the recipient’s cash compensation is reported.

Retirement and Pension Plans

Retirement and Pension Plans	3 Months Ended
	Mar. 31, 2019
Retirement Benefits [Abstract]
Retirement Plans and Other Postretirement Benefits	13. Retirement and Pension Plans The components of net periodic pension benefit expense (income) were as follows: Three Months Ended 2019 2018 (In thousands) Defined benefit plans: Service cost $ 1,713 $ 1,814 Interest cost 6,762 6,482 Expected return on plan assets (13,126 ) (14,963 ) Amortization of net actuarial loss and other 3,287 2,952 Pension income (1,364 ) (3,715 ) Other plans: Defined contribution plans 9,108 8,399 Foreign plans and other 1,562 1,596 Total other plans 10,670 9,995 Total net pension expense $ 9,306 $ 6,280 For the three months ended March 31, 2019 and 2018, contributions to the Company’s defined benefit pension plans were $0.7 million and $0.7 million, respectively. The Company’s current estimate of 2019 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 for the year ended December 31, 2018.

Contingencies

Contingencies	3 Months Ended
	Mar. 31, 2019
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 as defined by federal and state laws and regulations. At March 31, 2019, the Company is named a Potentially Responsible Party (“PRP”) at 13 non-AMETEK-owned former waste disposal or treatment sites (the “non-owned” sites). The Company is identified as a “de minimis” party in 12 of these sites based on the low volume of waste attributed to the Company relative to the amounts attributed to other named PRPs. In eight 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 best estimate. 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 March 31, 2019 and December 31, 2018 were $28.3 million and $27.8 million, respectively, for both non-owned and owned sites. For the three months ended March 31, 2019, the Company recorded $1.7 million in reserves and the reserve increased $0.1 million due to foreign currency translation. Additionally, the Company spent $1.3 million on environmental matters for the three months ended March 31, 2019. The Company’s reserves for environmental liabilities at March 31, 2019 and December 31, 2018 included reserves of $9.4 million and $9.6 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 March 31, 2019, the Company had $12.1 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 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 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. 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.

Revenues (Tables)

Revenues (Tables)	3 Months Ended
	Mar. 31, 2019
Revenue from Contract with Customer [Abstract]
Contract with Customer, Asset and Liability [Table Text Block]	The outstanding contract asset and (liability) accounts were as follows: 2019 2018 (In thousands) Contract assets – January 1 $ 58,266 $ 32,658 Contract assets – March 31 76,323 41,722 Change in contract assets – increase 18,057 9,064 Contract liabilities – January 1 146,162 117,058 Contract liabilities – March 31 147,776 142,016 Change in contract liabilities – increase (1,614 ) (24,958 ) Net change $ 16,443 $ (15,894 )
Revenue from External Customers by Geographic Areas [Table Text Block]	Information about the Company’s operations in different geographic areas for the three months ended March 31, 2019 is shown below. Net sales were attributed to geographic areas based on the location of the customer. Three months ended March 31, 2019 EIG EMG Total (In thousands) United States $ 403,392 $ 260,754 $ 664,146 International (1) : United Kingdom 15,427 33,888 49,315 European Union countries 102,785 106,419 209,204 Asia 193,847 47,111 240,958 Other foreign countries 91,460 32,608 124,068 Total international 403,519 220,026 623,545 Consolidated net sales $ 806,911 $ 480,780 $ 1,287,691 (1) Includes U.S. export sales of $325.4 million. Information about the Company’s operations in different geographic areas for the three months ended March 31, 2018 is shown below. Net sales were attributed to geographic areas based on the location of the customer. Three months ended March 31, 2018 EIG EMG Total (In thousands) United States $ 329,076 $ 230,864 $ 559,940 International (1) : United Kingdom 13,740 35,383 49,123 European Union countries 92,302 107,814 200,116 Asia 191,485 51,063 242,548 Other foreign countries 89,823 31,097 120,920 Total international 387,350 225,357 612,707 Consolidated net sales $ 716,426 $ 456,221 $ 1,172,647 (1) Includes U.S. export sales of $315.1 million.
Revenue from External Customers by Products and Services [Table Text Block]	The Company’s major products and services in the reportable segments were as follows: Three months ended March 31, 2019 EIG EMG Total (In thousands) Process and analytical instrumentation $ 577,340 $ — $ 577,340 Aerospace and power 229,571 118,878 348,449 Automation and engineered solutions — 361,902 361,902 Consolidated net sales $ 806,911 $ 480,780 $ 1,287,691 Three months ended March 31, 2018 EIG EMG Total (In thousands) Process and analytical instrumentation $ 499,637 $ — $ 499,637 Aerospace and power 216,789 108,657 325,446 Automation and engineered solutions — 347,564 347,564 Consolidated net sales $ 716,426 $ 456,221 $ 1,172,647
Disaggregation of Revenue [Table Text Block]	Three months ended March 31, 2019 EIG EMG Total (In thousands) Products transferred at a point in time $ 677,833 $ 435,605 $ 1,113,438 Products and services transferred over time 129,078 45,175 174,253 Consolidated net sales $ 806,911 $ 480,780 $ 1,287,691 Three months ended March 31, 2018 EIG EMG Total (In thousands) Products transferred at a point in time $ 625,422 $ 429,082 $ 1,054,504 Products and services transferred over time 91,004 27,139 118,143 Consolidated net sales $ 716,426 $ 456,221 $ 1,172,647
Schedule of Product Warranty Liability [Table Text Block]	Changes in the accrued product warranty obligation were as follows: Three Months Ended 2019 2018 (In thousands) Balance at the beginning of the period $ 23,482 $ 22,872 Accruals for warranties issued during the period 5,003 3,191 Settlements made during the period (4,789 ) (3,710 ) Warranty accruals related to acquired businesses and other during the period (81 ) 233 Balance at the end of the period $ 23,615 $ 22,586

Earnings Per Share (Tables)

Earnings Per Share (Tables)	3 Months Ended
	Mar. 31, 2019
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 2019 2018 (In thousands) Weighted average shares: Basic shares 226,861 230,928 Equity-based compensation plans 1,825 2,037 Diluted shares 228,686 232,965

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	3 Months Ended
	Mar. 31, 2019
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, consistent with the fair value hierarchy, at March 31, 2019 and December 31, 2018: March 31, 2019 December 31, 2018 Fair Value Fair Value (In thousands) Fixed-income investments $ 7,951 $ 7,655
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 March 31, 2019 and December 31, 2018: March 31, 2019 December 31, 2018 Recorded Amount Fair Value Recorded Amount Fair Value (In thousands) Long-term debt, net (including current portion) $ (2,473,385 ) $ (2,577,372 ) $ (2,378,809 ) $ (2,368,676 )

Inventories, net (Tables)

Inventories, net (Tables)	3 Months Ended
	Mar. 31, 2019
Inventory Disclosure [Abstract]
Inventories	March 31, December 31, (In thousands) Finished goods and parts $ 114,096 $ 107,289 Work in process 123,297 117,899 Raw materials and purchased parts 403,187 399,556 Total inventories, net $ 640,580 $ 624,744

Leases (Tables)

Leases (Tables)	3 Months Ended
	Mar. 31, 2019
Leases [Abstract]
Components of Lease Expense	The components of lease expense were as follows: Three Months Ended March 31, 2019 (In thousands) Operating lease cost $ 8,671 Variable lease cost 1,631 Total lease cost $ 10,302
Supplemental Cash Flow Information Related to Leases	Supplemental cash flow information and other information related to leases was as follows: Three Months Ended March 31, 2019 (In thousands) Cash paid for amounts included in measurement of liabilities: Operating cash flows from operating leases $ 10,302 Right-of-use assets obtained in exchange for new operating liabilities $ 1,325 Weighted-average remaining lease terms—operating leases (years) 6.26 Weighted-average discount rate—operating leases 3.88 %
Supplemental Balance Sheet Information Related to Leases	Supplemental balance sheet information related to leases was as follows: March 31, 2019 (In thousands) Right of use assets, net $ 182,182 Lease liabilities included in Accrued liabilities and other 41,637 Lease liabilities included in Other long-term liabilities 146,936 Total lease liabilities $ 188,573
Maturities of Lease Liabilities	Maturities of lease liabilities as of March 31, 2019 were as follows: Lease Liability Maturity Analysis Operating Leases (In thousands) Remaining 2019 $ 34,951 2020 41,117 2021 34,091 2022 27,840 2023 22,436 Thereafter 51,057 Total lease payments 211,492 Less: imputed interest 22,919 $ 188,573

Goodwill (Tables)

Goodwill (Tables)	3 Months Ended
	Mar. 31, 2019
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: EIG EMG Total (In millions) Balance at December 31, 2018 $ 2,452.0 $ 1,160.0 $ 3,612.0 Goodwill acquired — — — Purchase price allocation adjustments and other (1.4 ) (0.3 ) (1.7 ) Foreign currency translation adjustments (0.1 ) 0.1 — Balance at March 31, 2019 $ 2,450.5 $ 1,159.8 $ 3,610.3

Income Taxes (Tables)

Income Taxes (Tables)	3 Months Ended
	Mar. 31, 2019
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, 2018 $ 119.3 Additions for tax positions 4.4 Reductions for tax positions — Balance at March 31, 2019 $ 123.7

Share-Based Compensation (Table

Share-Based Compensation (Tables)	3 Months Ended
	Mar. 31, 2019
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Total Share-Based Compensation Expense	Total share-based compensation expense was as follows: Three 2019 2018 (In thousands) Stock option expense $ 2,773 $ 2,428 Restricted stock expense 3,717 3,076 PRSU expense 631 67 Total pre-tax expense $ 7,121 $ 5,571

Retirement and Pension Plans (T

Retirement and Pension Plans (Tables)	3 Months Ended
	Mar. 31, 2019
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 2019 2018 (In thousands) Defined benefit plans: Service cost $ 1,713 $ 1,814 Interest cost 6,762 6,482 Expected return on plan assets (13,126 ) (14,963 ) Amortization of net actuarial loss and other 3,287 2,952 Pension income (1,364 ) (3,715 ) Other plans: Defined contribution plans 9,108 8,399 Foreign plans and other 1,562 1,596 Total other plans 10,670 9,995 Total net pension expense $ 9,306 $ 6,280

Recent Accounting Pronounceme_2

Recent Accounting Pronouncements - Additional Information (Detail) - USD ($) $ in Thousands	Mar. 31, 2019	Jan. 01, 2019
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Right of use assets, net	$ 182,182
Operating lease liability	$ 188,573
Accounting Standards Update 2016-02 [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Right of use assets, net		$ 192,400
Operating lease liability		$ 198,600

Revenues - Outstanding Contract

Revenues - Outstanding Contract Asset and (Liability) Accounts (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Dec. 31, 2018	Dec. 31, 2017
Contract with Customer, Asset and Liability [Abstract]
Contract assets	$ 76,323	$ 41,722	$ 58,266	$ 32,658
Change in contract assets – increase	18,057	9,064
Contract liabilities	147,776	142,016	$ 146,162	$ 117,058
Change in contract liabilities – increase	(1,614)	(24,958)
Net Change	$ 16,443	$ (15,894)

Revenues - Additional Informati

Revenues - Additional Information (Detail) $ in Millions	3 Months Ended
	Mar. 31, 2019USD ($)Operations	Mar. 31, 2018USD ($)	Dec. 31, 2018USD ($)
Number of operating groups | Operations	2
Revenue, remaining performance obligation	$ 183.7		$ 187.2
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 the majority do not exceed one year.
Product warranty period	1 year
Revenue Recognised Contract Liabilities	$ 77.2	$ 70
Other Noncurrent Liabilities [Member]
Customer advanced payments	$ 11.4		8.9
ASC 606 [Member] | Total Assets [Member]
Cumulative effect of adoption of ASC 606			7.9
ASC 606 [Member] | Total Liabilities [Member]
Cumulative effect of adoption of ASC 606			3.7
ASC 606 [Member] | Retained Earnings [Member]
Cumulative effect of adoption of ASC 606			$ 4.2

Revenues - Information about Op

Revenues - Information about Operations in Different Geographic Areas (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019		Mar. 31, 2018
Segment Reporting Information [Line Items]
Net sales	$ 1,287,691		$ 1,172,647
United States [Member]
Segment Reporting Information [Line Items]
Net sales	664,146		559,940
United Kingdom [Member]
Segment Reporting Information [Line Items]
Net sales	49,315	[1]	49,123	[2]
European Union countries [Member]
Segment Reporting Information [Line Items]
Net sales	209,204	[1]	200,116	[2]
Asia [Member]
Segment Reporting Information [Line Items]
Net sales	240,958	[1]	242,548	[2]
Other foreign countries [Member]
Segment Reporting Information [Line Items]
Net sales	124,068	[1]	120,920	[2]
International [Member]
Segment Reporting Information [Line Items]
Net sales	623,545	[1]	612,707	[2]
Electronic Instruments Group [Member]
Segment Reporting Information [Line Items]
Net sales	806,911		716,426
Electronic Instruments Group [Member] | United States [Member]
Segment Reporting Information [Line Items]
Net sales	403,392		329,076
Electronic Instruments Group [Member] | United Kingdom [Member]
Segment Reporting Information [Line Items]
Net sales	15,427	[1]	13,740	[2]
Electronic Instruments Group [Member] | European Union countries [Member]
Segment Reporting Information [Line Items]
Net sales	102,785	[1]	92,302	[2]
Electronic Instruments Group [Member] | Asia [Member]
Segment Reporting Information [Line Items]
Net sales	193,847	[1]	191,485	[2]
Electronic Instruments Group [Member] | Other foreign countries [Member]
Segment Reporting Information [Line Items]
Net sales	91,460	[1]	89,823	[2]
Electronic Instruments Group [Member] | International [Member]
Segment Reporting Information [Line Items]
Net sales	403,519	[1]	387,350	[2]
Electromechanical Group [Member]
Segment Reporting Information [Line Items]
Net sales	480,780		456,221
Electromechanical Group [Member] | United States [Member]
Segment Reporting Information [Line Items]
Net sales	260,754		230,864
Electromechanical Group [Member] | United Kingdom [Member]
Segment Reporting Information [Line Items]
Net sales	33,888	[1]	35,383	[2]
Electromechanical Group [Member] | European Union countries [Member]
Segment Reporting Information [Line Items]
Net sales	106,419	[1]	107,814	[2]
Electromechanical Group [Member] | Asia [Member]
Segment Reporting Information [Line Items]
Net sales	47,111	[1]	51,063	[2]
Electromechanical Group [Member] | Other foreign countries [Member]
Segment Reporting Information [Line Items]
Net sales	32,608	[1]	31,097	[2]
Electromechanical Group [Member] | International [Member]
Segment Reporting Information [Line Items]
Net sales	$ 220,026	[1]	$ 225,357	[2]
[1]	Includes U.S. export sales of $325.4 million.
[2]	Includes U.S. export sales of $315.1 million.

Revenues - Information about _2

Revenues - Information about Operations in Different Geographic Areas (Parenthetical) (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Segment Reporting Information [Line Items]
Revenue from Contract with Customer, Including Assessed Tax	$ 1,287,691	$ 1,172,647
Non-US [Member]
Segment Reporting Information [Line Items]
Revenue from Contract with Customer, Including Assessed Tax	$ 325,400	$ 315,100

Revenues - Major Products and S

Revenues - Major Products and Services in Reportable Segments (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Disaggregation of Revenue [Line Items]
Net sales	$ 1,287,691	$ 1,172,647
Process And Analytical Instrumentation [Member]
Disaggregation of Revenue [Line Items]
Net sales	577,340	499,637
Aerospace and Power [Member]
Disaggregation of Revenue [Line Items]
Net sales	348,449	325,446
Automation and engineered solutions [Member]
Disaggregation of Revenue [Line Items]
Net sales	361,902	347,564
Electronic Instruments Group [Member]
Disaggregation of Revenue [Line Items]
Net sales	806,911	716,426
Electronic Instruments Group [Member] | Process And Analytical Instrumentation [Member]
Disaggregation of Revenue [Line Items]
Net sales	577,340	499,637
Electronic Instruments Group [Member] | Aerospace and Power [Member]
Disaggregation of Revenue [Line Items]
Net sales	229,571	216,789
Electronic Instruments Group [Member] | Automation and engineered solutions [Member]
Disaggregation of Revenue [Line Items]
Net sales	0	0
Electromechanical Group [Member]
Disaggregation of Revenue [Line Items]
Net sales	480,780	456,221
Electromechanical Group [Member] | Process And Analytical Instrumentation [Member]
Disaggregation of Revenue [Line Items]
Net sales	0	0
Electromechanical Group [Member] | Aerospace and Power [Member]
Disaggregation of Revenue [Line Items]
Net sales	118,878	108,657
Electromechanical Group [Member] | Automation and engineered solutions [Member]
Disaggregation of Revenue [Line Items]
Net sales	$ 361,902	$ 347,564

Revenues - Timing of Revenue Re

Revenues - Timing of Revenue Recognition (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Disaggregation of Revenue [Line Items]
Net sales	$ 1,287,691	$ 1,172,647
Products Transferred at a Point in Time [Member]
Disaggregation of Revenue [Line Items]
Net sales	1,113,438	1,054,504
Products and Services Transferred over Time [Member]
Disaggregation of Revenue [Line Items]
Net sales	174,253	118,143
Electronic Instruments Group [Member]
Disaggregation of Revenue [Line Items]
Net sales	806,911	716,426
Electronic Instruments Group [Member] | Products Transferred at a Point in Time [Member]
Disaggregation of Revenue [Line Items]
Net sales	677,833	625,422
Electronic Instruments Group [Member] | Products and Services Transferred over Time [Member]
Disaggregation of Revenue [Line Items]
Net sales	129,078	91,004
Electromechanical Group [Member]
Disaggregation of Revenue [Line Items]
Net sales	480,780	456,221
Electromechanical Group [Member] | Products Transferred at a Point in Time [Member]
Disaggregation of Revenue [Line Items]
Net sales	435,605	429,082
Electromechanical Group [Member] | Products and Services Transferred over Time [Member]
Disaggregation of Revenue [Line Items]
Net sales	$ 45,175	$ 27,139

Revenues - Changes in Accrued P

Revenues - Changes in Accrued Product Warranty Obligation (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Balance at the beginning of the period	$ 23,482	$ 22,872
Accruals for warranties issued during the period	5,003	3,191
Settlements made during the period	(4,789)	(3,710)
Warranty accruals related to acquired businesses and other during the period	(81)	233
Balance at the end of the period	$ 23,615	$ 22,586

Earnings Per Share - Number of

Earnings Per Share - Number of Weighted Average Shares (Detail) - shares shares in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Weighted Average Number of Shares Outstanding, Diluted [Abstract]
Basic shares	226,861	230,928
Equity-based compensation plans	1,825	2,037
Diluted shares	228,686	232,965

Fair Value Measurements - Fair

Fair Value Measurements - Fair Value of Assets Measured on Recurring Basis (Detail) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed-income investments	$ 7,951	$ 7,655

Fair Value Measurements - Addit

Fair Value Measurements - Additional Information (Detail)	Mar. 31, 2019USD ($)Contract	Mar. 31, 2018USD ($)
Derivative [Line Items]
Fair Value, Assets, Level 1 to Level 2 Transfers, Amount	$ 0	$ 0
Fair Value, Assets, Level 2 to Level 1 Transfers, Amount	$ 0	$ 0
Number of forward contracts outstanding | Contract	0

Fair Value Measurements - Fai_2

Fair Value Measurements - Fair Value Disclosures of Financial Instrument Liabilities (Detail) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Recorded Amount [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt, net (including current portion)	$ (2,473,385)	$ (2,378,809)
Fair Value [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt, net (including current portion)	$ (2,577,372)	$ (2,368,676)

Hedging Activities - Additional

Hedging Activities - Additional Information (Detail) - Foreign Exchange Contract [Member] - Designated as Hedging Instrument [Member] $ in Millions	3 Months Ended
	Mar. 31, 2019USD ($)
Derivative [Line Items]
Percentage of effectiveness on net investment hedges	100.00%
Currency remeasuresment gains (losses)	$ 4.6
British-Pound-Denominated Loans [Member]
Derivative [Line Items]
Hedge against net investment in foreign subsidiaries	397.5
Euro Loan [Member]
Derivative [Line Items]
Hedge against net investment in foreign subsidiaries	$ 645.6

Inventories, net - Inventories

Inventories, net - Inventories (Detail) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Inventory Disclosure [Abstract]
Finished goods and parts	$ 114,096	$ 107,289
Work in process	123,297	117,899
Raw materials and purchased parts	403,187	399,556
Total inventories, net	$ 640,580	$ 624,744

Leases- Components of Lease Exp

Leases- Components of Lease Expense (Detail) $ in Thousands	3 Months Ended
	Mar. 31, 2019USD ($)
Leases [Abstract]
Operating lease cost	$ 8,671
Variable lease cost	1,631
Total lease cost	$ 10,302

Leases - Supplemental Balance S

Leases - Supplemental Balance Sheet Information Related to Leases (Detail) $ in Thousands	Mar. 31, 2019USD ($)
Leases [Abstract]
Right of use assets, net	$ 182,182
Lease liabilities included in Accrued liabilities and other	41,637
Lease liabilities included in Other long-term liabilities	146,936
Total lease liabilities	$ 188,573

Leases - Supplemental Cash Flow

Leases - Supplemental Cash Flow Information Related to Leases (Detail) $ in Thousands	3 Months Ended
	Mar. 31, 2019USD ($)
Cash Paid For Amounts Included In Measurement Of Lease Liabilities [Abstract]
Operating cash flows from operating leases	$ 10,302
Right-of-use assets obtained in exchange for new operating liabilities	$ 1,325
Weighted-average remaining lease terms—operating leases (years)	6 years 3 months 3 days
Weighted-average discount rate—operating leases	3.88%

Leases - Maturities of lease li

Leases - Maturities of lease liabilities (Detail) $ in Thousands	Mar. 31, 2019USD ($)
Leases [Abstract]
Remaining 2019	$ 34,951
2020	41,117
2021	34,091
2022	27,840
2023	22,436
Thereafter	51,057
Total lease payments	211,492
Less: imputed interest	22,919
Operating Leases	$ 188,573

Goodwill - Changes in Carrying

Goodwill - Changes in Carrying Amounts of Goodwill by Segment (Detail) $ in Thousands	3 Months Ended
	Mar. 31, 2019USD ($)
Goodwill [Line Items]
Goodwill, beginning balance	$ 3,612,033
Goodwill acquired	0
Purchase price allocation adjustments and other	(1,700)
Foreign currency translation adjustments	0
Goodwill, ending balance	3,610,277
Electronic Instruments Group [Member]
Goodwill [Line Items]
Goodwill, beginning balance	2,452,000
Goodwill acquired	0
Purchase price allocation adjustments and other	(1,400)
Foreign currency translation adjustments	(100)
Goodwill, ending balance	2,450,500
Electromechanical Group [Member]
Goodwill [Line Items]
Goodwill, beginning balance	1,160,000
Goodwill acquired	0
Purchase price allocation adjustments and other	(300)
Foreign currency translation adjustments	100
Goodwill, ending balance	$ 1,159,800

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Dec. 31, 2018
Income Tax Contingency [Line Items]
Gross unrecognized tax benefits	$ 123.7		$ 119.3
The total amount of unrecognized tax benefits that would impact tax rate, if recognized	$ 75.9
Effective tax rate	20.50%	23.10%

Income Taxes - Reconciliation o

Income Taxes - Reconciliation of Liability for Uncertain Tax Positions (Detail) $ in Thousands	3 Months Ended
	Mar. 31, 2019USD ($)
Income Tax Disclosure [Abstract]
Balance at the beginning of the year	$ 119,300
Additions for tax positions	4,400
Reductions for tax positions	0
Balance at the end of the year	$ 123,700

Debt - Additional Information (

Debt - Additional Information (Detail) - Senior Notes [Member] € in Millions, $ in Millions	1 Months Ended	12 Months Ended
	Jan. 21, 2019USD ($)	Dec. 31, 2018USD ($)	Dec. 31, 2018EUR (€)	Dec. 31, 2017USD ($)	Dec. 31, 2018EUR (€)
Debt Instrument [Line Items]
Aggregate principal amount of senior notes		$ 575			€ 75
proceeds from funding	$ 100	$ 475	€ 75	$ 85.1
rate of interest		3.93%			3.93%

Share-Based Compensation - Addi

Share-Based Compensation - Additional Information (Detail) - Performance Restricted Stock Units [Member] - Officers And Key Management Employees [Member]	3 Months Ended
	Mar. 31, 2019shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Awards granted, shares	102,000
Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation, vesting rate	200.00%
Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation, vesting rate	0.00%

Share-Based Compensation - Tota

Share-Based Compensation - Total Share-Based Compensation Expense (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Stock option expense	$ 2,773	$ 2,428
Restricted stock expense	3,717	3,076
PRSU expense	631	67
Total pre-tax expense	$ 7,121	$ 5,571

Retirement and Pension Plans -

Retirement and Pension Plans - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Defined Benefit Plan Disclosure [Line Items]
Defined benefit pension plan contributions	$ 0.7	$ 0.7

Retirement and Pension Plans _2

Retirement and Pension Plans - Components of Net Periodic Pension Benefit Expense (Income) (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Defined benefit plans:
Service cost	$ 1,713	$ 1,814
Interest cost	6,762	6,482
Expected return on plan assets	(13,126)	(14,963)
Amortization of net actuarial loss and other	3,287	2,952
Pension income	(1,364)	(3,715)
Other plans:
Defined contribution plans	9,108	8,399
Foreign plans and other	1,562	1,596
Total other plans	10,670	9,995
Total net pension expense	$ 9,306	$ 6,280

Contingencies - Additional Info

Contingencies - Additional Information (Detail) $ in Millions	3 Months Ended
	Mar. 31, 2019USD ($)Site	Dec. 31, 2018USD ($)
Site Contingency [Line Items]
Number of non-owned sites Company is named Potentially Responsible Party | Site	13
Number of non-owned sites the Company is identified as a de minimis party | Site	12
Total environmental reserves	$ 28.3	$ 27.8
Increase (decrease) in environmental reserves	1.7
Total expenses related to environmental matters	1.3
Foreign currency translation	0.1
HCC Industries [Member]
Site Contingency [Line Items]
Reserves related to an owned site acquired	9.4	$ 9.6
Receivables related to HCC for probable recoveries from third-party funds	12.1
Amount for which the Company is indemnified by HCC's former owners	$ 19