IDEX (IEX) 10-Q 25 Apr 16 2016 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2016	Apr. 20, 2016
Document and Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Mar. 31, 2016
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q1
Trading Symbol	IEX
Entity Registrant Name	IDEX CORP /DE/
Entity Central Index Key	832,101
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		75,900,965

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Current assets
Cash and cash equivalents	$ 358,445	$ 328,018
Receivables, less allowance for doubtful accounts of $7,984 at March 31, 2016 and $7,812 at December 31, 2015	296,834	260,000
Inventories — net	278,230	239,124
Other current assets	42,999	35,542
Total current assets	976,508	862,684
Property, plant and equipment — net	252,512	240,945
Goodwill	1,524,929	1,396,529
Intangible assets — net	370,786	287,837
Other noncurrent assets	17,563	17,448
Total assets	3,142,298	2,805,443
Current liabilities
Trade accounts payable	140,183	128,911
Accrued expenses	150,766	153,672
Notes payable and current portion of long-term borrowings	1,333	1,087
Dividends payable	0	25,927
Total current liabilities	292,282	309,597
Long-term borrowings	1,094,232	839,707
Deferred income taxes	154,612	110,483
Other noncurrent liabilities	108,262	102,365
Total liabilities	$ 1,649,388	$ 1,362,152
Commitments and contingencies
Preferred stock:
Authorized: 5,000,000 shares, $.01 per share par value; Issued: None	$ 0	$ 0
Common stock:
Authorized: 150,000,000 shares, $.01 per share par value Issued: 90,224,625 shares at March 31, 2016 and 90,151,131 shares at December 31, 2015	902	902
Additional paid-in capital	685,376	679,623
Retained earnings	1,734,810	1,666,680
Treasury stock at cost: 14,098,950 shares at March 31, 2016 and 13,616,592 shares at December 31, 2015	(799,665)	(757,416)
Accumulated other comprehensive income (loss)	(128,513)	(146,498)
Total shareholders’ equity	1,492,910	1,443,291
Total liabilities and shareholders’ equity	$ 3,142,298	$ 2,805,443

CONDENSED CONSOLIDATED BALANCE3

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Statement of Financial Position [Abstract]
Receivables, allowance for doubtful accounts	$ 7,984	$ 7,812
Preferred stock, authorized (in shares)	5,000,000	5,000,000
Preferred stock , par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, issued (in shares)	0	0
Common stock, authorized (in shares)	150,000,000	150,000,000
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, issued (in shares)	90,224,625	90,151,131
Treasury stock, shares (in shares)	14,098,950	13,616,592

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Income Statement [Abstract]
Net sales	$ 502,572	$ 502,198
Cost of sales	279,237	276,157
Gross profit	223,335	226,041
Selling, general and administrative expenses	120,778	124,284
Operating income	102,557	101,757
Other (income) expense — net	(744)	(1,723)
Interest expense	10,489	10,597
Income before income taxes	92,812	92,883
Provision for income taxes	24,682	26,929
Net income	$ 68,130	$ 65,954
Basic earnings per common share (in dollars per share)	$ 0.90	$ 0.84
Diluted earnings per common share (in dollars per share)	$ 0.89	$ 0.84
Share data:
Basic weighted average common shares outstanding (in shares)	75,749	77,996
Diluted weighted average common shares outstanding (in shares)	76,699	78,856

CONDENSED CONSOLIDATED STATEME5

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Statement of Comprehensive Income [Abstract]
Net income	$ 68,130	$ 65,954
Other comprehensive income (loss)
Reclassification adjustments for derivatives, net of tax	1,097	1,130
Pension and other postretirement adjustments, net of tax	671	780
Cumulative translation adjustment	16,217	(56,637)
Other comprehensive income (loss)	17,985	(54,727)
Comprehensive income	$ 86,115	$ 11,227

CONDENSED CONSOLIDATED STATEME6

CONDENSED CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY - 3 months ended Mar. 31, 2016 - USD ($) $ in Thousands	Total	Common Stock and Additional Paid-In Capital	Retained Earnings	Cumulative Translation Adjustment	Retirement Benefits Adjustment	Cumulative Unrealized Gain (Loss) on Derivatives	Treasury Stock
Balance at Dec. 31, 2015	$ 1,443,291	$ 680,525	$ 1,666,680	$ (92,979)	$ (30,901)	$ (22,618)	$ (757,416)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	68,130		68,130
Cumulative translation adjustment	16,217			16,217
Pension and other postretirement adjustments (net of tax of $322)	671				671
Amortization of forward starting swaps (net of tax of $627)	1,097					1,097
Issuance of 361,570 shares of common stock from issuance of restricted stock, performance share units and exercise of stock options	8,258						8,258
Repurchase of 628,493 shares of common stock	(45,790)						(45,790)
Shares surrendered for tax withholding	(4,717)						(4,717)
Share-based compensation	5,753	5,753
Balance at Mar. 31, 2016	$ 1,492,910	$ 686,278	$ 1,734,810	$ (76,762)	$ (30,230)	$ (21,521)	$ (799,665)

CONDENSED CONSOLIDATED STATEME7

CONDENSED CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY (Parenthetical) $ in Thousands	3 Months Ended
	Mar. 31, 2016USD ($)shares
Statement of Stockholders' Equity [Abstract]
Pension and other postretirement adjustments, tax | $	$ 322
Amortization of forward starting swaps, tax | $	$ 627
Issuance of common stock from performance share units and exercise of stock options | shares	361,570
Repurchase of common stock (in shares) | shares	628,493

CONDENSED CONSOLIDATED STATEME8

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Cash flows from operating activities
Net income	$ 68,130	$ 65,954
Adjustments to reconcile net income to net cash provided by operating activities
Depreciation and amortization	9,067	8,580
Amortization of intangible assets	10,890	9,930
Amortization of debt issuance costs	378	434
Share-based compensation expense	6,442	6,882
Deferred income taxes	2,950	1,000
Excess tax benefit from share-based compensation	0	(3,220)
Non-cash interest expense associated with forward starting swaps	1,724	1,772
Changes in (net of effect from acquisitions):
Receivables	(19,267)	(18,039)
Inventories	(270)	(11,215)
Other current assets	(6,597)	(4,591)
Trade accounts payable	6,451	6,857
Accrued expenses	(6,641)	(14,230)
Other — net	(2,892)	(710)
Net cash flows provided by operating activities	70,365	49,404
Cash flows from investing activities
Additions of property, plant and equipment	(8,650)	(10,077)
Acquisition of businesses, net of cash acquired	221,556	0
Other — net	91	(48)
Net cash flows used in investing activities	(230,115)	(10,125)
Cash flows from financing activities
Borrowings under revolving facilities	275,391	55,000
Payments under revolving facilities	(20,994)	(77)
Dividends paid	(24,662)	(22,151)
Proceeds from stock option exercises	8,258	9,185
Excess tax benefit from share-based compensation	0	3,220
Purchase of common stock	(46,864)	(62,132)
Shares surrendered for tax withholding	(4,717)	(3,107)
Net cash flows provided by (used in) financing activities	186,412	(20,062)
Effect of exchange rate changes on cash and cash equivalents	3,765	(33,858)
Net increase (decrease) in cash	30,427	(14,641)
Cash and cash equivalents at beginning of year	328,018	509,137
Cash and cash equivalents at end of period	358,445	494,496
Cash paid for:
Interest	965	791
Income taxes	$ 9,516	$ 10,411

Basis of Presentation and Signi

Basis of Presentation and Significant Accounting Policies	3 Months Ended
	Mar. 31, 2016
Accounting Policies [Abstract]
Basis of Presentation and Significant Accounting Policies	Basis of Presentation and Significant Accounting Policies The Condensed Consolidated Financial Statements of IDEX Corporation (“IDEX,” “we,” “our,” or the “Company”) have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) applicable to interim financial information and the instructions to Form 10-Q under the Securities Exchange Act of 1934, as amended. The statements are unaudited but include all adjustments, consisting only of recurring items, except as noted, that the Company considers necessary for a fair presentation of the information set forth herein. The results of operations for the three months ended March 31, 2016 are not necessarily indicative of the results to be expected for the entire year. The Condensed Consolidated Financial Statements and Management’s Discussion and Analysis of Financial Condition and Results of Operations set forth in this report should be read in conjunction with the Company’s Annual Report on Form 10-K for the year ended December 31, 2015 . Recently Adopted Accounting Standards In March 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2016-09, Improvements to Employee Share-Based Payment Accounting , which simplifies several aspects of the accounting for employee share-based payment transactions, including the accounting for income taxes, forfeitures, and statutory tax withholding requirements, as well as classification in the statement of cash flows. This standard is effective for annual reporting periods beginning after December 15, 2016. The Company elected to early adopt this standard in the quarter ended March 31, 2016. The impact of the early adoption resulted in the following: • The Company recorded a tax benefit of $2.6 million within income tax expense for the three months ended March 31, 2016 related to the excess tax benefit on stock options, restricted stock and performance share units. Prior to adoption this amount would have been recorded as a reduction of additional paid-in capital. This change could create volatility in the Company’s effective tax rate. • The Company elected not to change our policy on accounting for forfeitures and continued to estimate the total number of awards for which the requisite service period will not be rendered. • The Company no longer reclassifies the excess tax benefit from operating activities to financing activities in the statement of cash flows. The Company elected to apply this change in presentation prospectively and thus prior periods have not been adjusted. • The Company excluded the excess tax benefits from the assumed proceeds available to repurchase shares in the computation of our diluted earnings per share for the quarter ended March 31, 2016. This increased our diluted weighted average common shares outstanding by 175 thousand shares. Recently Issued Accounting Standards In February 2016, the FASB issued ASU 2016-02, Leases , which introduces a new lessee model that will require most leases to be recorded on the balance sheet and eliminates the required use of bright line tests in current U.S. GAAP for determining lease classification. This standard is effective for fiscal years beginning after December 15, 2018. The Company is currently evaluating the impact of the new guidance on our consolidated financial statements. In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers , which introduces a new five-step revenue recognition model. Under ASU 2014-09, an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. This ASU also requires disclosures sufficient to enable users to understand the nature, amount, timing, and uncertainty of revenue and cash flows arising from contracts with customers, including qualitative and quantitative disclosures about contracts with customers, significant judgments and changes in judgments, and assets recognized from the costs to obtain or fulfill a contract. This standard is effective for fiscal years beginning after December 15, 2017, using either of the following transition methods: (i) a full retrospective approach reflecting the application of the standard in each prior reporting period with the option to elect certain practical expedients, or (ii) a retrospective approach with the cumulative effect of initially adopting ASU 2014-09 recognized at the date of adoption. The Company is currently evaluating the impact of the new guidance on our consolidated financial statements and have not yet determined the method by which we will adopt the standard in 2018.

Acquisitions and Divestitures

Acquisitions and Divestitures	3 Months Ended
	Mar. 31, 2016
Business Combinations and Dispositions [Abstract]
Acquisitions and Divestitures	Acquisitions and Divestitures All of the Company’s acquisitions have been accounted for under FASB Accounting Standards Codification (“ASC”) 805, Business Combinations . Accordingly, the accounts of the acquired companies, after adjustments to reflect fair values assigned to assets and liabilities, have been included in the Company’s consolidated financial statements from their respective dates of acquisition. The Company incurred $1.0 million of acquisition-related transaction costs in the three months ended March 31, 2016 . These costs were recorded in Selling, general and administrative expense and were related to completed transactions, pending transactions and potential transactions, including transactions that ultimately were not completed. During the three months ended March 31, 2016 , the Company recorded $2.2 million of fair value inventory step-up charges in Cost of sales associated with the completed 2016 acquisition. 2016 Acquisitions On March 16, 2016, the Company acquired the stock of Akron Brass Holding Corporation (“Akron Brass”), a producer of a large array of engineered life–safety products for the safety and emergency response markets, which includes apparatus valves, monitors, nozzles, specialty lighting, electronic vehicle–control systems and firefighting hand tools. The business was acquired to complement and create synergies with our existing Hale, Class 1, and Godiva businesses. Headquartered in Wooster, Ohio, Akron Brass had annual revenues in its most recent fiscal year of approximately $120 million and operates in our Fire & Safety/Diversified Products segment. Akron Brass was acquired for cash consideration of $221.6 million . The purchase price was funded with borrowings under the Company’s Revolving Facility. Preliminary goodwill and intangible assets recognized as part of the transaction were $119.1 million and $92.1 million , respectively. The goodwill is not deductible for tax purposes. The Company made an initial allocation of the purchase price for the Akron Brass acquisition as of the acquisition date based on its understanding of the fair value of the acquired assets and assumed liabilities. As the Company obtains additional information about these assets and liabilities, including tangible and intangible asset appraisals, and learns more about the newly acquired businesses, we will refine the estimates of fair value and more accurately allocate the purchase price. Only items identified as of the acquisition date are considered for subsequent adjustment. The Company will make appropriate adjustments to the purchase price allocations prior to the completion of the measurement period, as required. The preliminary allocation of the acquisition costs to the assets acquired and liabilities assumed, based on their estimated fair values, is as follows: Total Current assets, net of cash acquired $ 51,887 Property, plant and equipment 10,332 Goodwill 119,131 Intangible assets 92,100 Total assets acquired 273,450 Current liabilities (6,531 ) Deferred income taxes (39,114 ) Other noncurrent liabilities (6,249 ) Net assets acquired $ 221,556 Acquired intangible assets consist of trade names, customer relationships and unpatented technology. The goodwill recorded for the acquisition reflects the strategic fit, revenue and earnings growth potential of this business. Of the $92.1 million of acquired intangible assets, $32.8 million was assigned to the Akron Brass trade name and is not subject to amortization. The acquired intangible assets and weighted average amortization periods are as follows: Total Weighted Average Life Trade names $ 2,900 15 Customer relationships 43,500 14 Unpatented technology 12,900 9 Amortized intangible assets $ 59,300 Indefinite lived - Akron Brass trade name 32,800 Total acquired intangible assets $ 92,100 2015 Acquisitions On May 29, 2015, the Company acquired the stock of Novotema, SpA (“Novotema”), a leader in the design, manufacture and sale of specialty sealing solutions for use in the building products, gas control, transportation, industrial and water markets. The business was acquired to complement and create synergies with our existing sealing group. Located in Villongo, Italy, Novotema operates in our Health & Science Technologies segment. Novotema was acquired for cash consideration of $61.1 million ( €56 million ). The entire purchase price was funded with cash on hand. Goodwill and intangible assets recognized as part of this transaction were $34.3 million and $20.0 million , respectively. The $34.3 million of goodwill is not deductible for tax purposes. On June 10, 2015, the Company acquired the stock of Alfa Valvole, S.r.l (“Alfa”), a leader in the design, manufacture and sale of specialty valve products for use in the chemical, petro-chemical, energy and sanitary markets. The business was acquired to expand our valve capabilities. Located in Casorezzo, Italy, Alfa operates in our Fluid & Metering Technologies segment. Alfa was acquired for cash consideration of $112.6 million ( €99.8 million ). The entire purchase price was funded with cash on hand. Goodwill and intangible assets recognized as part of this transaction were $71.2 million and $32.1 million , respectively. The $71.2 million of goodwill is not deductible for tax purposes. On July 1, 2015, the Company acquired the membership interests of CiDRA Precision Services, LLC (“CPS”), a leader in the design, manufacture and sale of microfluidic components serving the life science, health and industrial markets. The business was acquired to provide a critical building block to our emerging microfluidic and nanofludics capabilities. Located in Wallingford, Connecticut, CPS operates within our Health & Sciences Technologies segment. CPS was acquired for an aggregate purchase price of $24.2 million , consisting of $19.5 million in cash and contingent consideration valued at $4.7 million as of the opening balance sheet date. The contingent consideration is based on the achievement of financial objectives during the 12-month period following the close. Based on potential outcomes, the undiscounted amount of all the future payments that the Company could be required to make under the contingent consideration arrangement is between $0 and $5.5 million . During the first quarter of 2016, the Company re-evaluated the amount that could potentially be owed under the contingent consideration arrangement and reduced the liability to $1.0 million based on known information and a revised forecast. The difference between the amount recorded as of the opening balance sheet date and March 31, 2016 was recognized as a benefit within Selling, general and administrative expenses during the three months ended March 31, 2016. The entire purchase price was funded with cash on hand. Goodwill and intangible assets recognized as part of this transaction were $9.7 million and $12.3 million , respectively. The $9.7 million of goodwill is deductible for tax purposes. On December 1, 2015 the Company acquired the assets of a complementary product line within our Fluid & Metering Technologies segment. The purchase price and goodwill associated with this transaction was $1.9 million and $0.7 million , respectively. 2015 Divestiture The Company periodically reviews its operations for businesses which may no longer be aligned with its strategic objectives and focus on core business and customers. On July 31, 2015, the Company completed the sale of its Ismatec product line to Cole-Palmer Instruments Company for $27.7 million in cash, resulting in a pre-tax gain on the sale of $18.1 million . The Company recorded $4.8 million of income tax expense associated with this transaction during the three months ended September 30, 2015. The results of Ismatec were reported within the Health & Science Technologies segment through the date of sale.

Business Segments

Business Segments	3 Months Ended
	Mar. 31, 2016
Segment Reporting [Abstract]
Business Segments	Business Segments The Company has three reportable business segments: Fluid & Metering Technologies, Health & Science Technologies and Fire & Safety/Diversified Products. The Fluid & Metering Technologies segment designs, produces and distributes positive displacement pumps, flow meters, injectors, and other fluid-handling pump modules and systems and provides flow monitoring and other services for the water and wastewater industries. The Health & Science Technologies segment designs, produces and distributes a wide range of precision fluidics, rotary lobe pumps, centrifugal and positive displacement pumps, roll compaction and drying systems used in beverage, food processing, pharmaceutical and cosmetics, pneumatic components and sealing solutions, very high precision, low-flow rate pumping solutions required in analytical instrumentation, clinical diagnostics and drug discovery, high performance molded and extruded, biocompatible medical devices and implantables, air compressors used in medical, dental and industrial applications, optical components and coatings for applications in the fields of scientific research, defense, biotechnology, aerospace, semiconductor, telecommunications and electronics manufacturing, laboratory and commercial equipment used in the production of micro and nano scale materials, precision photonic solutions used in life sciences, research and defense markets, and precision gear and peristaltic pump technologies that meet exacting original equipment manufacturer specifications. The Fire & Safety/Diversified Products segment produces firefighting pumps and controls, rescue tools, lifting bags and other components and systems for the fire and rescue industry, engineered stainless steel banding and clamping devices used in a variety of industrial and commercial applications, and precision equipment for dispensing, metering and mixing colorants and paints used in a variety of retail and commercial businesses around the world. Information on the Company’s business segments is presented below, based on the nature of products and services offered. The Company evaluates performance based on several factors, of which operating income is the primary financial measure. Intersegment sales are accounted for as if the sales were to third parties. Three Months Ended 2016 2015 Net sales Fluid & Metering Technologies External customers $ 211,709 $ 217,932 Intersegment sales 134 316 Total group sales 211,843 218,248 Health & Science Technologies External customers 186,251 177,750 Intersegment sales 92 1,370 Total group sales 186,343 179,120 Fire & Safety/Diversified Products External customers 104,612 106,516 Intersegment sales 6 106 Total group sales 104,618 106,622 Intersegment elimination (232 ) (1,792 ) Total net sales $ 502,572 $ 502,198 Operating income Fluid & Metering Technologies $ 51,401 $ 55,898 Health & Science Technologies 40,699 37,457 Fire & Safety/Diversified Products 25,404 27,162 Corporate office and other (14,947 ) (18,760 ) Total operating income 102,557 101,757 Interest expense 10,489 10,597 Other (income) expense - net (744 ) (1,723 ) Income before income taxes $ 92,812 $ 92,883 March 31, December 31, Assets Fluid & Metering Technologies $ 1,139,577 $ 1,125,266 Health & Science Technologies 1,123,683 1,108,302 Fire & Safety/Diversified Products 742,918 448,867 Corporate office 136,120 123,008 Total assets $ 3,142,298 $ 2,805,443

Earnings Per Common Share

Earnings Per Common Share	3 Months Ended
	Mar. 31, 2016
Earnings Per Share [Abstract]
Earnings Per Common Share	Earnings Per Common Share Earnings per common share (“EPS”) are computed by dividing net income by the weighted average number of shares of common stock (basic) plus common stock equivalents outstanding (diluted) during the period. Common stock equivalents consist of stock options, which have been included in the calculation of weighted average shares outstanding using the treasury stock method, restricted stock, performance share units, and shares issuable in connection with certain deferred compensation agreements (“DCUs”). ASC 260, Earnings Per Share, provides that all outstanding unvested share-based payment awards that contain rights to nonforfeitable dividends participate in undistributed earnings with common shareholders. If awards are considered participating securities, the Company is required to apply the two-class method of computing basic and diluted earnings per share. The Company has determined that its outstanding shares of restricted stock are participating securities. Accordingly, earnings per common share are computed using the more dilutive of the treasury stock method and the two-class method prescribed by ASC 260. Basic weighted average shares reconciles to diluted weighted average shares as follows: Three Months Ended 2016 2015 Basic weighted average common shares outstanding 75,749 77,996 Dilutive effect of stock options, restricted stock, performance share units and DCUs 950 860 Diluted weighted average common shares outstanding 76,699 78,856 Options to purchase approximately 1.4 million and 0.9 million shares of common stock for the three months ended March 31, 2016 and 2015 , respectively, were not included in the computation of diluted EPS because the effect of their inclusion would be antidilutive.

Inventories

Inventories	3 Months Ended
	Mar. 31, 2016
Inventory Disclosure [Abstract]
Inventories	Inventories The components of inventories as of March 31, 2016 and December 31, 2015 were: March 31, December 31, Raw materials and component parts $ 163,207 $ 141,671 Work in process 36,008 32,387 Finished goods 79,015 65,066 Total $ 278,230 $ 239,124 Inventories are stated at the lower of cost or market. Cost, which includes material, labor and factory overhead, is determined on a FIFO basis.

Goodwill and Intangible Assets

Goodwill and Intangible Assets	3 Months Ended
	Mar. 31, 2016
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Intangible Assets	Goodwill and Intangible Assets The changes in the carrying amount of goodwill for the three months ended March 31, 2016 , by reportable business segment, were as follows: Fluid & Metering Technologies Health & Science Technologies Fire & Safety/ Diversified Products Total Balance at December 31, 2015 $ 584,770 $ 590,605 $ 221,154 $ 1,396,529 Foreign currency translation and other 4,990 877 3,402 9,269 Acquisitions — — 119,131 119,131 Balance at March 31, 2016 $ 589,760 $ 591,482 $ 343,687 $ 1,524,929 ASC 350, Goodwill and Other Intangible Assets, requires that goodwill be tested for impairment at the reporting unit level on an annual basis and between annual tests if an event occurs, or circumstances change, that would more likely than not reduce the fair value of the reporting unit below its carrying value. Annually, on October 31, goodwill and other acquired intangible assets with indefinite lives are tested for impairment. The Company did not consider there to be any triggering events that would require an interim impairment assessment, therefore none of the goodwill or other acquired intangible assets with indefinite lives were tested for impairment during the three months ended March 31, 2016 . Based on the results of our annual impairment test at October 31, 2015 , all reporting units had a fair value that was more than 70% greater than the carrying value, except for our IDEX Optics and Photonics (“IOP”) and Valves reporting units. Our IOP reporting unit had a fair value that was approximately 20% in excess of carrying value and our Valves reporting unit had a fair value near its carrying value as a result of the formation of this reporting unit in conjunction with our Alfa acquisition in June 2015. The following table provides the gross carrying value and accumulated amortization for each major class of intangible asset at March 31, 2016 and December 31, 2015 : At March 31, 2016 At December 31, 2015 Gross Carrying Amount Accumulated Amortization Net Weighted Average Life Gross Carrying Amount Accumulated Amortization Net Amortized intangible assets: Patents $ 10,255 $ (6,403 ) $ 3,852 11 $ 10,202 $ (6,175 ) $ 4,027 Trade names 114,090 (40,664 ) 73,426 16 110,658 (38,696 ) 71,962 Customer relationships 302,795 (151,765 ) 151,030 11 257,071 (144,134 ) 112,937 Non-compete agreements — — — 3 794 (775 ) 19 Unpatented technology 92,102 (45,332 ) 46,770 10 78,562 (42,745 ) 35,817 Other 6,549 (5,741 ) 808 10 6,554 (5,579 ) 975 Total amortized intangible assets 525,791 (249,905 ) 275,886 463,841 (238,104 ) 225,737 Indefinite lived intangible assets: Banjo trade name 62,100 — 62,100 62,100 — 62,100 Akron Brass trade name 32,800 — 32,800 — — — Total intangible assets $ 620,691 $ (249,905 ) $ 370,786 $ 525,941 $ (238,104 ) $ 287,837 The Banjo trade name is an indefinite lived intangible asset which is tested for impairment on an annual basis in accordance with ASC 350 or more frequently if events or changes in circumstances indicate that the asset might be impaired. In the first three months of 2016 , there were no triggering events or changes that would have required a review. Based on the results of our annual impairment test at October 31, 2015 , the fair value of the Banjo trade name was greater than 20% in excess of carrying value. The Akron Brass trade name is an indefinite lived intangible asset that was generated as a result of the Akron Brass acquisition in March 2016. Amortization of intangible assets was $10.9 million and $9.9 million for the three months ended March 31, 2016 and 2015 , respectively. Based on intangible asset balances as of March 31, 2016 , amortization expense is expected to approximate $34.5 million for the remaining nine months of 2016 , $37.4 million in 2017 , $27.2 million in 2018 , $24.4 million in 2019 and $23.5 million in 2020 .

Accrued Expenses

Accrued Expenses	3 Months Ended
	Mar. 31, 2016
Payables and Accruals [Abstract]
Accrued Expenses	Accrued Expenses The components of accrued expenses as of March 31, 2016 and December 31, 2015 were: March 31, December 31, Payroll and related items $ 59,969 $ 67,209 Management incentive compensation 5,399 12,599 Income taxes payable 14,732 3,836 Insurance 8,835 9,505 Warranty 6,843 7,936 Deferred revenue 11,660 9,885 Restructuring 3,424 6,636 Liability for uncertain tax positions 5,146 3,498 Accrued interest 8,712 1,230 Contingent consideration for acquisition 1,000 4,705 Other 25,046 26,633 Total accrued expenses $ 150,766 $ 153,672

Other Noncurrent Liabilities

Other Noncurrent Liabilities	3 Months Ended
	Mar. 31, 2016
Other Liabilities Disclosure [Abstract]
Other Noncurrent Liabilities	Other Noncurrent Liabilities The components of other noncurrent liabilities as of March 31, 2016 and December 31, 2015 were: March 31, December 31, Pension and retiree medical obligations $ 83,128 $ 76,190 Liability for uncertain tax positions 2,623 4,252 Deferred revenue 3,258 3,763 Other 19,253 18,160 Total other noncurrent liabilities $ 108,262 $ 102,365

Borrowings

Borrowings	3 Months Ended
	Mar. 31, 2016
Debt Disclosure [Abstract]
Borrowings	Borrowings Borrowings at March 31, 2016 and December 31, 2015 consisted of the following: March 31, December 31, Revolving Facility $ 450,000 $ 195,000 4.5% Senior Notes, due December 2020 300,000 300,000 4.2% Senior Notes, due December 2021 350,000 350,000 Other borrowings 1,889 2,436 Total borrowings 1,101,889 847,436 Less current portion 1,333 1,087 Less deferred debt issuance costs 4,945 5,203 Less unaccreted debt discount 1,379 1,439 Total long-term borrowings $ 1,094,232 $ 839,707 On June 23, 2015, the Company entered into a credit agreement (the “Credit Agreement”) along with certain of its subsidiaries, as borrowers (the “Borrowers”), Bank of America, N.A., as administrative agent, swing line lender and an issuer of letters of credit, with other agents party thereto. The Credit Agreement replaces the Company’s existing five -year, $700 million credit agreement, dated as of June 27, 2011, which was due to expire on June 27, 2016 . The Credit Agreement consists of a revolving credit facility (the “Revolving Facility”) in an aggregate principal amount of $700 million with a final maturity date of June 23, 2020 . The maturity date may be extended under certain conditions for an additional one -year term. Up to $75 million of the Revolving Facility is available for the issuance of letters of credit. Additionally, up to $50 million of the Revolving Facility is available to the Company for swing line loans, available on a same-day basis. Proceeds of the Revolving Facility are available for use by the Borrowers for acquisitions, working capital and other general corporate purposes, including refinancing existing debt of the Company and its subsidiaries. The Company may request increases in the lending commitments under the Credit Agreement, but the aggregate lending commitments pursuant to such increases may not exceed $350 million . The Company has the right, subject to certain conditions set forth in the Credit Agreement, to designate certain foreign subsidiaries of the Company as borrowers under the Credit Agreement. In connection with any such designation, the Company is required to guarantee the obligations of any such subsidiaries. Borrowings under the Credit Agreement bear interest, at either an alternate base rate or an adjusted LIBOR rate plus, in each case, an applicable margin. Such applicable margin is based on the Company’s senior, unsecured, long-term debt rating and can range from .005% to 1.50% . Based on the Company’s credit rating at March 31, 2016 , the applicable margin was 1.10% , resulting in an interest rate of 1.56% at March 31, 2016 . Interest is payable (a) in the case of base rate loans, quarterly, and (b) in the case of LIBOR rate loans, on the maturity date of the borrowing, or quarterly from the effective date for borrowings exceeding three months. The Credit Agreement requires payment to the lenders of a facility fee based upon (a) the amount of the lenders’ commitments under the credit facility from time to time and (b) the applicable corporate credit ratings of the Company. Voluntary prepayments of any loans and voluntary reductions of the unutilized portion of the commitments under the credit facility are permissible without penalty, subject to break funding payments and minimum notice and minimum reduction amount requirements. The negative covenants include, among other things, limitations (each of which is subject to customary exceptions for financings of this type) on our ability to grant liens; enter into transactions resulting in fundamental changes (such as mergers or sales of all or substantially all of the assets of the Company); restrict subsidiary dividends or other subsidiary distributions; enter into transactions with the Company’s affiliates; and incur certain additional subsidiary debt. The Credit Agreement also contains customary events of default (subject to grace periods, as appropriate) including among others: nonpayment of principal, interest or fees; breach of the representations or warranties in any material respect; breach of the financial, affirmative or negative covenants; payment default on, or acceleration of, other material indebtedness; bankruptcy or insolvency; material judgments entered against the Company or any of its subsidiaries; certain specified events under the Employee Retirement Income Security Act of 1974, as amended; certain changes in control of the Company; and the invalidity or unenforceability of the Credit Agreement or other documents associated with the Credit Agreement. At March 31, 2016 , $450.0 million was outstanding under the Revolving Facility, with $7.6 million of outstanding letters of credit, resulting in net available borrowing capacity under the Revolving Facility at March 31, 2016 of approximately $242.4 million . Other borrowings of $1.9 million at March 31, 2016 consisted primarily of debt at international locations maintained for working capital purposes. Interest is payable on the outstanding debt balances at rates ranging from 0.6% to 2.8% per annum. There are two key financial covenants that the Company is required to maintain in connection with the Revolving Facility, which requires a minimum interest coverage ratio of 3.0 to 1 and a maximum leverage ratio of 3.50 to 1 . At March 31, 2016 , the Company was in compliance with both of these financial covenants. There are no financial covenants relating to the 4.5% Senior Notes or 4.2% Senior Notes; however, both are subject to cross-default provisions.

Derivative Instruments

Derivative Instruments	3 Months Ended
	Mar. 31, 2016
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Instruments	Derivative Instruments The Company enters into cash flow hedges from time to time to reduce the exposure to variability in certain expected future cash flows. The type of cash flow hedges the Company enters into includes foreign currency contracts and interest rate exchange agreements that effectively convert a portion of floating-rate debt to fixed-rate debt and are designed to reduce the impact of interest rate changes on future interest expense. The effective portion of gains or losses on interest rate exchange agreements is reported in accumulated other comprehensive income (loss) in shareholders’ equity and reclassified into net income in the same period or periods in which the hedged transaction affects net income. See Note 13 for the amount of loss reclassified into income for interest rate contracts for the three months ended March 31, 2016 and 2015 . The remaining gain or loss in excess of the cumulative change in the present value of future cash flows or the hedged item, if any, is recognized into net income during the period of change. Fair values relating to derivative financial instruments reflect the estimated amounts that the Company would receive or pay to sell or buy the contracts based on quoted market prices of comparable contracts at each balance sheet date. As of March 31, 2016 , the Company did not have any interest rate contracts outstanding. In 2010 and 2011, the Company entered into two separate forward starting interest rate contracts in anticipation of the issuance of the 4.2% Senior Notes and the 4.5% Senior Notes. The Company cash settled these two interest rate contracts in 2010 and 2011 for a total of $68.9 million , which is being amortized into interest expense over the 10 year term of the debt instruments. Approximately $6.8 million of the pre-tax amount included in accumulated other comprehensive income (loss) in shareholders’ equity at March 31, 2016 will be recognized to net income over the next 12 months as the underlying hedged transactions are realized.

Fair Value Measurements

Fair Value Measurements	3 Months Ended
	Mar. 31, 2016
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements ASC 820, Fair Value Measurements and Disclosures, defines fair value, provides guidance for measuring fair value and requires certain disclosures. This standard discusses valuation techniques, such as the market approach (comparable market prices), the income approach (present value of future income or cash flow), and the cost approach (cost to replace the service capacity of an asset or replacement cost). The standard utilizes a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value into three broad levels. The following is a brief description of those three levels: • Level 1: Observable inputs such as quoted prices (unadjusted) in active markets for identical assets or liabilities. • Level 2: Inputs, other than quoted prices that are observable for the asset or liability, either directly or indirectly. These include quoted prices for similar assets or liabilities in active markets and quoted prices for identical or similar assets or liabilities in markets that are not active. • Level 3: Unobservable inputs that reflect the reporting entity’s own assumptions. The following table summarizes the basis used to measure the Company’s financial assets at fair value on a recurring basis in the balance sheets at March 31, 2016 and December 31, 2015 : Basis of Fair Value Measurements Balance at Level 1 Level 2 Level 3 Money market investment $ 31,161 $ 31,161 $ — $ — Available for sale securities 5,047 5,047 — — Contingent consideration (1,000 ) — — (1,000 ) Basis of Fair Value Measurements Balance at Level 1 Level 2 Level 3 Money market investment $ 21,931 $ 21,931 $ — $ — Available for sale securities 4,794 4,794 — — Contingent consideration (4,705 ) — — (4,705 ) There were no transfers of assets or liabilities between Level 1 and Level 2 during the quarter ended March 31, 2016 or the year ended December 31, 2015 . In determining the fair value of the contingent consideration potentially due on the acquisition of CPS, the Company used probability weighted estimates of EBITDA during the earn-out period. The $4.7 million represents management’s best estimate of the liability as of the opening balance sheet date and December 31, 2015, based on a range of outcomes of CPS’s 12 month operating results, from July 1, 2015 to June 30, 2016. During the first quarter of 2016, the Company re-evaluated the amount that could potentially be owed under the contingent consideration arrangement and reduced the liability to $1.0 million based on known information and a revised forecast. The difference between the amount recorded as of the opening balance sheet date and March 31, 2016 was recognized as a benefit within Selling, general and administrative expenses during the three months ended March 31, 2016. At March 31, 2016 , the $1.0 million of contingent consideration is included in Accrued expenses in the Consolidated Balance Sheet. The carrying value of our cash and cash equivalents, accounts receivable, accounts payable and accrued expenses approximates their fair values because of the short term nature of these instruments. At March 31, 2016 , the fair value of the outstanding indebtedness under our Revolving Facility, 4.5% Senior Notes and 4.2% Senior Notes, based on quoted market prices and current market rates for debt with similar credit risk and maturity, was approximately $1,122.4 million compared to the carrying value of $1,098.6 million . This fair value measurement is classified as Level 2 within the fair value hierarchy since it is determined based upon significant inputs observable in the market, including interest rates on recent financing transactions to entities with a credit rating similar to ours.

Restructuring

Restructuring	3 Months Ended
	Mar. 31, 2016
Restructuring and Related Activities [Abstract]
Restructuring	Restructuring During the fourth quarter of 2015, the Company recorded restructuring costs as part of the 2015 restructuring initiatives that support the implementation of key strategic efforts designed to facilitate long-term, sustainable growth through cost reduction actions, primarily consisting of employee reductions. The costs incurred related to these initiatives were included in Restructuring expenses in the Consolidated Statements of Operations while the related accruals were included in Accrued expenses in the Consolidated Balance Sheets. Severance costs primarily consisted of severance benefits through payroll continuation, COBRA subsidies, outplacement services, conditional separation costs and employer tax liabilities. Restructuring accruals of $3.4 million and $6.6 million at March 31, 2016 and December 31, 2015 , respectively, are recorded in Accrued expenses in the Consolidated Balance Sheets. Severance benefits are expected to be paid in the next twelve months using cash from operations. The changes in the restructuring accrual for the three months ended March 31, 2016 are as follows: Restructuring Balance at January 1, 2016 $ 6,636 Payments, utilization and other (3,212 ) Balance at March 31, 2016 $ 3,424

Other Comprehensive Income (Los

Other Comprehensive Income (Loss)	3 Months Ended
	Mar. 31, 2016
Equity [Abstract]
Other Comprehensive Income (Loss)	Other Comprehensive Income (Loss) The components of other comprehensive income (loss) are as follows: Three Months Ended Three Months Ended Pre-tax Tax Net of tax Pre-tax Tax Net of tax Cumulative translation adjustment $ 16,217 $ — $ 16,217 $ (56,637 ) $ — $ (56,637 ) Pension and other postretirement adjustments 993 (322 ) 671 1,175 (395 ) 780 Reclassification adjustments for derivatives 1,724 (627 ) 1,097 1,772 (642 ) 1,130 Total other comprehensive income (loss) $ 18,934 $ (949 ) $ 17,985 $ (53,690 ) $ (1,037 ) $ (54,727 ) The following table summarizes the amounts reclassified from accumulated other comprehensive income to net income during the three months ended March 31, 2016 and 2015 : Three Months Ended 2016 2015 Income Statement Caption Pension and other postretirement plans Amortization of service cost $ 993 $ 1,175 Selling, general and administrative expense Total before tax 993 1,175 Provision for income taxes (322 ) (395 ) Total net of tax $ 671 $ 780 Derivatives Reclassification adjustments $ 1,724 $ 1,772 Interest expense Total before tax 1,724 1,772 Provision for income taxes (627 ) (642 ) Total net of tax $ 1,097 $ 1,130

Common and Preferred Stock

Common and Preferred Stock	3 Months Ended
	Mar. 31, 2016
Equity [Abstract]
Common and Preferred Stock	Common and Preferred Stock On December 1, 2015 , the Company’s Board of Directors approved a $300.0 million increase in the authorized level for repurchases of common stock. Repurchases will be funded with future cash flow generation or borrowings available under the Revolving Facility. During the three months ended March 31, 2016 , the Company purchased a total of 628 thousand shares at a cost of $45.8 million , of which $1.2 million was settled in April 2016 . During the three months ended March 31, 2015 , the Company purchased 830 thousand shares at a cost of $62.1 million , of which $2.7 million was settled in April 2015 . As of March 31, 2016 , the amount of share repurchase authorization remaining is $589.2 million . At March 31, 2016 and December 31, 2015 , the Company had 150 million shares of authorized common stock, with a par value of $.01 per share, and 5 million shares of authorized preferred stock, with a par value of $.01 per share. No preferred stock was outstanding at March 31, 2016 or December 31, 2015 .

Share-Based Compensation

Share-Based Compensation	3 Months Ended
	Mar. 31, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Share-Based Compensation	Share-Based Compensation Stock Options Weighted average option fair values and assumptions for the periods specified are disclosed below. The fair value of each option grant was estimated on the date of the grant using the Binomial lattice option pricing model. Three Months Ended 2016 2015 Weighted average fair value of option grants $18.40 $20.40 Dividend yield 1.70% 1.42% Volatility 29.71% 29.94% Risk-free forward interest rate 0.53% - 2.50% 0.23% - 2.75% Expected life (in years) 5.91 5.90 Total compensation cost for stock options is as follows: Three Months Ended 2016 2015 Cost of goods sold $ 119 $ 226 Selling, general and administrative expenses 2,295 2,197 Total expense before income taxes 2,414 2,423 Income tax benefit (760 ) (767 ) Total expense after income taxes $ 1,654 $ 1,656 A summary of the Company’s stock option activity as of March 31, 2016 , and changes during the three months ended March 31, 2016 , is presented in the following table: Stock Options Shares Weighted Average Price Weighted-Average Remaining Contractual Term Aggregate Intrinsic Value Outstanding at January 1, 2016 2,266,433 $ 54.05 6.58 $ 51,918,028 Granted 546,185 74.75 Exercised (210,413 ) 39.24 Forfeited (31,010 ) 70.17 Outstanding at March 31, 2016 2,571,195 $ 59.46 7.24 $ 60,206,101 Vested and expected to vest as of March 31, 2016 2,392,411 $ 58.33 7.09 $ 58,731,553 Exercisable at March 31, 2016 1,373,554 $ 47.40 5.69 $ 48,736,086 Restricted Stock Restricted stock awards generally cliff vest after three years for employees and non-employee directors. Unvested restricted stock carries dividend and voting rights and the sale of the shares is restricted prior to the date of vesting. A summary of the Company’s restricted stock activity as of March 31, 2016 , and changes during the three months ended March 31, 2016 , is as presented as follows: Restricted Stock Shares Weighted-Average Unvested at January 1, 2016 272,755 $ 65.90 Granted 57,670 74.73 Vested (98,102 ) 50.83 Forfeited (5,510 ) 71.30 Unvested at March 31, 2016 226,813 $ 74.53 Dividends are paid on restricted stock awards and their fair value is equal to the market price of the Company’s stock at the date of the grant. Total compensation cost for restricted shares is as follows: Three Months Ended 2016 2015 Cost of goods sold $ 128 $ 142 Selling, general and administrative expenses 1,530 2,257 Total expense before income taxes 1,658 2,399 Income tax benefit (513 ) (690 ) Total expense after income taxes $ 1,145 $ 1,709 Cash-Settled Restricted Stock The Company also maintains a cash-settled share based compensation plan for certain employees. Cash-settled restricted stock awards generally cliff vest after three years. A summary of the Company’s unvested cash-settled restricted stock activity as of March 31, 2016 , and changes during the three months ended March 31, 2016 , is presented in the following table: Cash-Settled Restricted Stock Shares Weighted-Average Unvested at January 1, 2016 110,860 $ 76.61 Granted 39,100 82.88 Vested (33,920 ) 71.81 Forfeited (4,250 ) 82.88 Unvested at March 31, 2016 111,790 $ 82.88 Dividend equivalents are paid on certain cash-settled restricted stock awards. Total compensation cost for cash-settled restricted stock is as follows: Three Months Ended 2016 2015 Cost of goods sold $ 189 $ 278 Selling, general and administrative expenses 500 440 Total expense before income taxes 689 718 Income tax benefit (98 ) (116 ) Total expense after income taxes $ 591 $ 602 Performance Share Units Weighted average performance share unit fair values and assumptions for the period specified are disclosed below. The performance share units are market condition awards and have been assessed at fair value on the date of grant using a Monte Carlo simulation model. Three Months Ended March 31, 2016 2015 Weighted average fair value of performance share units $111.42 $95.07 Dividend yield —% —% Volatility 17.99% 19.14% Risk-free forward interest rate 0.89% 1.01% Expected life (in years) 2.86 2.86 A summary of the Company’s performance share unit activity as of March 31, 2016 , and changes during the three months ended March 31, 2016 , is presented in the following table: Performance Share Units Shares Weighted-Average Unvested at January 1, 2016 146,275 $ 94.80 Granted 85,130 111.42 Vested — — Forfeited (1,065 ) 94.74 Unvested at March 31, 2016 230,340 $ 100.95 Performance share units that vested on December 31, 2015 resulted in 87,600 shares issued in February 2016. Total compensation cost for performance share units is as follows: Three Months Ended 2016 2015 Cost of goods sold $ — $ — Selling, general and administrative expenses 1,681 1,342 Total expense before income taxes 1,681 1,342 Income tax benefit (535 ) (430 ) Total expense after income taxes $ 1,146 $ 912 The Company’s policy is to recognize compensation cost on a straight-line basis, assuming forfeitures, over the requisite service period for the entire award. Classification of stock compensation cost within the Consolidated Statements of Operations is consistent with classification of cash compensation for the same employees. As of March 31, 2016 , there was $16.0 million of total unrecognized compensation cost related to stock options that is expected to be recognized over a weighted-average period of 1.6 years, $12.3 million of total unrecognized compensation cost related to restricted stock that is expected to be recognized over a weighted-average period of 1.2 years, and $11.5 million of total unrecognized compensation cost related to performance share units that is expected to be recognized over a weighted-average period of 1.2 years.

Retirement Benefits

Retirement Benefits	3 Months Ended
	Mar. 31, 2016
Compensation and Retirement Disclosure [Abstract]
Retirement Benefits	Retirement Benefits The Company sponsors several qualified and nonqualified defined benefit and defined contribution pension plans and other postretirement plans for its employees. The following tables provide the components of net periodic benefit cost for its major defined benefit plans and its other postretirement plans. Pension Benefits Three Months Ended March 31, 2016 2015 U.S. Non-U.S. U.S. Non-U.S. Service cost $ 294 $ 299 $ 375 $ 381 Interest cost 747 350 938 435 Expected return on plan assets (1,175 ) (219 ) (1,248 ) (276 ) Net amortization 827 238 824 459 Net periodic benefit cost $ 693 $ 668 $ 889 $ 999 Other Postretirement Benefits Three Months Ended March 31, 2016 2015 Service cost $ 132 $ 169 Interest cost 174 209 Net amortization (154 ) (108 ) Net periodic benefit cost $ 152 $ 270 The Company previously disclosed in its financial statements for the year ended December 31, 2015 , that it expected to contribute approximately $6.1 million to its defined benefit plans and $0.9 million to its other postretirement benefit plans in 2016 . As of March 31, 2016 , the Company now expects to contribute $5.4 million to its defined benefit plans and $0.9 million to its other postretirement benefit plans in 2016 . The Company contributed a total of $0.7 million during the first three months of 2016 to fund these plans.

Legal Proceedings

Legal Proceedings	3 Months Ended
	Mar. 31, 2016
Commitments and Contingencies Disclosure [Abstract]
Legal Proceedings	Legal Proceedings The Company is party to various legal proceedings arising in the ordinary course of business, none of which are expected to have a material impact on its financial condition, results of operations or cash flows.

Income Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2016
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The Company’s provision for income taxes is based upon estimated annual tax rates for the year applied to federal, state and foreign income. The provision for income taxes decreased to $24.7 million in the three months ended March 31, 2016 from $26.9 million in the same period of 2015 . The effective tax rate decreased to 26.6% for the three months ended March 31, 2016 compared to 29.0% in the same period of 2015 due to the early adoption of ASU 2016-09 and the related excess tax benefits now recognized as a reduction of income tax expense; the enactment of the Protecting Americans from Tax Hikes Act of 2015 on December 18, 2015 which, beginning in 2015, permanently extended the U.S. Research and Development credit; partially offset by the mix of global pre-tax income among jurisdictions. The Company and its subsidiaries file income tax returns in the U.S. federal jurisdiction, and various state and foreign jurisdictions. Due to the potential for resolution of federal, state and foreign examinations, and the expiration of various statutes of limitation, it is reasonably possible that the Company’s gross unrecognized tax benefits balance may change within the next twelve months by a range of zero to $5.1 million .

Basis of Presentation and Sig27

Basis of Presentation and Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2016
Accounting Policies [Abstract]
New Accounting Pronouncements	Recently Adopted Accounting Standards In March 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2016-09, Improvements to Employee Share-Based Payment Accounting , which simplifies several aspects of the accounting for employee share-based payment transactions, including the accounting for income taxes, forfeitures, and statutory tax withholding requirements, as well as classification in the statement of cash flows. This standard is effective for annual reporting periods beginning after December 15, 2016. The Company elected to early adopt this standard in the quarter ended March 31, 2016. The impact of the early adoption resulted in the following: • The Company recorded a tax benefit of $2.6 million within income tax expense for the three months ended March 31, 2016 related to the excess tax benefit on stock options, restricted stock and performance share units. Prior to adoption this amount would have been recorded as a reduction of additional paid-in capital. This change could create volatility in the Company’s effective tax rate. • The Company elected not to change our policy on accounting for forfeitures and continued to estimate the total number of awards for which the requisite service period will not be rendered. • The Company no longer reclassifies the excess tax benefit from operating activities to financing activities in the statement of cash flows. The Company elected to apply this change in presentation prospectively and thus prior periods have not been adjusted. • The Company excluded the excess tax benefits from the assumed proceeds available to repurchase shares in the computation of our diluted earnings per share for the quarter ended March 31, 2016. This increased our diluted weighted average common shares outstanding by 175 thousand shares. Recently Issued Accounting Standards In February 2016, the FASB issued ASU 2016-02, Leases , which introduces a new lessee model that will require most leases to be recorded on the balance sheet and eliminates the required use of bright line tests in current U.S. GAAP for determining lease classification. This standard is effective for fiscal years beginning after December 15, 2018. The Company is currently evaluating the impact of the new guidance on our consolidated financial statements. In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers , which introduces a new five-step revenue recognition model. Under ASU 2014-09, an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. This ASU also requires disclosures sufficient to enable users to understand the nature, amount, timing, and uncertainty of revenue and cash flows arising from contracts with customers, including qualitative and quantitative disclosures about contracts with customers, significant judgments and changes in judgments, and assets recognized from the costs to obtain or fulfill a contract. This standard is effective for fiscal years beginning after December 15, 2017, using either of the following transition methods: (i) a full retrospective approach reflecting the application of the standard in each prior reporting period with the option to elect certain practical expedients, or (ii) a retrospective approach with the cumulative effect of initially adopting ASU 2014-09 recognized at the date of adoption. The Company is currently evaluating the impact of the new guidance on our consolidated financial statements and have not yet determined the method by which we will adopt the standard in 2018.

Acquisitions and Divestitures (

Acquisitions and Divestitures (Tables)	3 Months Ended
	Mar. 31, 2016
Business Combinations and Dispositions [Abstract]
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed	The preliminary allocation of the acquisition costs to the assets acquired and liabilities assumed, based on their estimated fair values, is as follows: Total Current assets, net of cash acquired $ 51,887 Property, plant and equipment 10,332 Goodwill 119,131 Intangible assets 92,100 Total assets acquired 273,450 Current liabilities (6,531 ) Deferred income taxes (39,114 ) Other noncurrent liabilities (6,249 ) Net assets acquired $ 221,556
Schedule of Finite-Lived Intangible Assets	The acquired intangible assets and weighted average amortization periods are as follows: Total Weighted Average Life Trade names $ 2,900 15 Customer relationships 43,500 14 Unpatented technology 12,900 9 Amortized intangible assets $ 59,300 Indefinite lived - Akron Brass trade name 32,800 Total acquired intangible assets $ 92,100

Business Segments (Tables)

Business Segments (Tables)	3 Months Ended
	Mar. 31, 2016
Segment Reporting [Abstract]
Schedule of Information On Company's Business Segments	Information on the Company’s business segments is presented below, based on the nature of products and services offered. The Company evaluates performance based on several factors, of which operating income is the primary financial measure. Intersegment sales are accounted for as if the sales were to third parties. Three Months Ended 2016 2015 Net sales Fluid & Metering Technologies External customers $ 211,709 $ 217,932 Intersegment sales 134 316 Total group sales 211,843 218,248 Health & Science Technologies External customers 186,251 177,750 Intersegment sales 92 1,370 Total group sales 186,343 179,120 Fire & Safety/Diversified Products External customers 104,612 106,516 Intersegment sales 6 106 Total group sales 104,618 106,622 Intersegment elimination (232 ) (1,792 ) Total net sales $ 502,572 $ 502,198 Operating income Fluid & Metering Technologies $ 51,401 $ 55,898 Health & Science Technologies 40,699 37,457 Fire & Safety/Diversified Products 25,404 27,162 Corporate office and other (14,947 ) (18,760 ) Total operating income 102,557 101,757 Interest expense 10,489 10,597 Other (income) expense - net (744 ) (1,723 ) Income before income taxes $ 92,812 $ 92,883 March 31, December 31, Assets Fluid & Metering Technologies $ 1,139,577 $ 1,125,266 Health & Science Technologies 1,123,683 1,108,302 Fire & Safety/Diversified Products 742,918 448,867 Corporate office 136,120 123,008 Total assets $ 3,142,298 $ 2,805,443

Earnings Per Common Share (Tabl

Earnings Per Common Share (Tables)	3 Months Ended
	Mar. 31, 2016
Earnings Per Share [Abstract]
Schedule of Basic Weighted Average Shares Reconciles to Diluted Weighted Average Shares	Basic weighted average shares reconciles to diluted weighted average shares as follows: Three Months Ended 2016 2015 Basic weighted average common shares outstanding 75,749 77,996 Dilutive effect of stock options, restricted stock, performance share units and DCUs 950 860 Diluted weighted average common shares outstanding 76,699 78,856

Inventories (Tables)

Inventories (Tables)	3 Months Ended
	Mar. 31, 2016
Inventory Disclosure [Abstract]
Components Of Inventories	The components of inventories as of March 31, 2016 and December 31, 2015 were: March 31, December 31, Raw materials and component parts $ 163,207 $ 141,671 Work in process 36,008 32,387 Finished goods 79,015 65,066 Total $ 278,230 $ 239,124

Goodwill and Intangible Assets

Goodwill and Intangible Assets (Tables)	3 Months Ended
	Mar. 31, 2016
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Changes in Carrying Amount of Goodwill	The changes in the carrying amount of goodwill for the three months ended March 31, 2016 , by reportable business segment, were as follows: Fluid & Metering Technologies Health & Science Technologies Fire & Safety/ Diversified Products Total Balance at December 31, 2015 $ 584,770 $ 590,605 $ 221,154 $ 1,396,529 Foreign currency translation and other 4,990 877 3,402 9,269 Acquisitions — — 119,131 119,131 Balance at March 31, 2016 $ 589,760 $ 591,482 $ 343,687 $ 1,524,929
Schedule of Gross Carrying Value and Accumulated Amortization For Each Major Class of Intangible Asset	The following table provides the gross carrying value and accumulated amortization for each major class of intangible asset at March 31, 2016 and December 31, 2015 : At March 31, 2016 At December 31, 2015 Gross Carrying Amount Accumulated Amortization Net Weighted Average Life Gross Carrying Amount Accumulated Amortization Net Amortized intangible assets: Patents $ 10,255 $ (6,403 ) $ 3,852 11 $ 10,202 $ (6,175 ) $ 4,027 Trade names 114,090 (40,664 ) 73,426 16 110,658 (38,696 ) 71,962 Customer relationships 302,795 (151,765 ) 151,030 11 257,071 (144,134 ) 112,937 Non-compete agreements — — — 3 794 (775 ) 19 Unpatented technology 92,102 (45,332 ) 46,770 10 78,562 (42,745 ) 35,817 Other 6,549 (5,741 ) 808 10 6,554 (5,579 ) 975 Total amortized intangible assets 525,791 (249,905 ) 275,886 463,841 (238,104 ) 225,737 Indefinite lived intangible assets: Banjo trade name 62,100 — 62,100 62,100 — 62,100 Akron Brass trade name 32,800 — 32,800 — — — Total intangible assets $ 620,691 $ (249,905 ) $ 370,786 $ 525,941 $ (238,104 ) $ 287,837

Accrued Expenses (Tables)

Accrued Expenses (Tables)	3 Months Ended
	Mar. 31, 2016
Payables and Accruals [Abstract]
Components of Accrued Expenses	The components of accrued expenses as of March 31, 2016 and December 31, 2015 were: March 31, December 31, Payroll and related items $ 59,969 $ 67,209 Management incentive compensation 5,399 12,599 Income taxes payable 14,732 3,836 Insurance 8,835 9,505 Warranty 6,843 7,936 Deferred revenue 11,660 9,885 Restructuring 3,424 6,636 Liability for uncertain tax positions 5,146 3,498 Accrued interest 8,712 1,230 Contingent consideration for acquisition 1,000 4,705 Other 25,046 26,633 Total accrued expenses $ 150,766 $ 153,672

Other Noncurrent Liabilities (T

Other Noncurrent Liabilities (Tables)	3 Months Ended
	Mar. 31, 2016
Other Liabilities Disclosure [Abstract]
Schedule of Other Noncurrent Liabilities	The components of other noncurrent liabilities as of March 31, 2016 and December 31, 2015 were: March 31, December 31, Pension and retiree medical obligations $ 83,128 $ 76,190 Liability for uncertain tax positions 2,623 4,252 Deferred revenue 3,258 3,763 Other 19,253 18,160 Total other noncurrent liabilities $ 108,262 $ 102,365

Borrowings (Tables)

Borrowings (Tables)	3 Months Ended
	Mar. 31, 2016
Debt Disclosure [Abstract]
Schedule of Borrowings	Borrowings at March 31, 2016 and December 31, 2015 consisted of the following: March 31, December 31, Revolving Facility $ 450,000 $ 195,000 4.5% Senior Notes, due December 2020 300,000 300,000 4.2% Senior Notes, due December 2021 350,000 350,000 Other borrowings 1,889 2,436 Total borrowings 1,101,889 847,436 Less current portion 1,333 1,087 Less deferred debt issuance costs 4,945 5,203 Less unaccreted debt discount 1,379 1,439 Total long-term borrowings $ 1,094,232 $ 839,707

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	3 Months Ended
	Mar. 31, 2016
Fair Value Disclosures [Abstract]
Schedule of Company's Financial Assets and (Liabilities) at Fair Value on Recurring Basis	The following table summarizes the basis used to measure the Company’s financial assets at fair value on a recurring basis in the balance sheets at March 31, 2016 and December 31, 2015 : Basis of Fair Value Measurements Balance at Level 1 Level 2 Level 3 Money market investment $ 31,161 $ 31,161 $ — $ — Available for sale securities 5,047 5,047 — — Contingent consideration (1,000 ) — — (1,000 ) Basis of Fair Value Measurements Balance at Level 1 Level 2 Level 3 Money market investment $ 21,931 $ 21,931 $ — $ — Available for sale securities 4,794 4,794 — — Contingent consideration (4,705 ) — — (4,705 )

Restructuring (Tables)

Restructuring (Tables)	3 Months Ended
	Mar. 31, 2016
Restructuring and Related Activities [Abstract]
Schedule of Restructuring Reserve	The changes in the restructuring accrual for the three months ended March 31, 2016 are as follows: Restructuring Balance at January 1, 2016 $ 6,636 Payments, utilization and other (3,212 ) Balance at March 31, 2016 $ 3,424

Other Comprehensive Income (L38

Other Comprehensive Income (Loss) (Tables)	3 Months Ended
	Mar. 31, 2016
Equity [Abstract]
Schedule of Accumulated Other Comprehensive Income (Loss)	The components of other comprehensive income (loss) are as follows: Three Months Ended Three Months Ended Pre-tax Tax Net of tax Pre-tax Tax Net of tax Cumulative translation adjustment $ 16,217 $ — $ 16,217 $ (56,637 ) $ — $ (56,637 ) Pension and other postretirement adjustments 993 (322 ) 671 1,175 (395 ) 780 Reclassification adjustments for derivatives 1,724 (627 ) 1,097 1,772 (642 ) 1,130 Total other comprehensive income (loss) $ 18,934 $ (949 ) $ 17,985 $ (53,690 ) $ (1,037 ) $ (54,727 )
Reclassification out of Accumulated Other Comprehensive Income	The following table summarizes the amounts reclassified from accumulated other comprehensive income to net income during the three months ended March 31, 2016 and 2015 : Three Months Ended 2016 2015 Income Statement Caption Pension and other postretirement plans Amortization of service cost $ 993 $ 1,175 Selling, general and administrative expense Total before tax 993 1,175 Provision for income taxes (322 ) (395 ) Total net of tax $ 671 $ 780 Derivatives Reclassification adjustments $ 1,724 $ 1,772 Interest expense Total before tax 1,724 1,772 Provision for income taxes (627 ) (642 ) Total net of tax $ 1,097 $ 1,130

Share-Based Compensation (Table

Share-Based Compensation (Tables)	3 Months Ended
	Mar. 31, 2016
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Schedule of Weighted Average Option Fair Values and Assumptions	Weighted average option fair values and assumptions for the periods specified are disclosed below. The fair value of each option grant was estimated on the date of the grant using the Binomial lattice option pricing model. Three Months Ended 2016 2015 Weighted average fair value of option grants $18.40 $20.40 Dividend yield 1.70% 1.42% Volatility 29.71% 29.94% Risk-free forward interest rate 0.53% - 2.50% 0.23% - 2.75% Expected life (in years) 5.91 5.90
Schedule of Compensation Cost for Stock Options	Total compensation cost for stock options is as follows: Three Months Ended 2016 2015 Cost of goods sold $ 119 $ 226 Selling, general and administrative expenses 2,295 2,197 Total expense before income taxes 2,414 2,423 Income tax benefit (760 ) (767 ) Total expense after income taxes $ 1,654 $ 1,656
Schedule of Stock Option Activity	A summary of the Company’s stock option activity as of March 31, 2016 , and changes during the three months ended March 31, 2016 , is presented in the following table: Stock Options Shares Weighted Average Price Weighted-Average Remaining Contractual Term Aggregate Intrinsic Value Outstanding at January 1, 2016 2,266,433 $ 54.05 6.58 $ 51,918,028 Granted 546,185 74.75 Exercised (210,413 ) 39.24 Forfeited (31,010 ) 70.17 Outstanding at March 31, 2016 2,571,195 $ 59.46 7.24 $ 60,206,101 Vested and expected to vest as of March 31, 2016 2,392,411 $ 58.33 7.09 $ 58,731,553 Exercisable at March 31, 2016 1,373,554 $ 47.40 5.69 $ 48,736,086
Schedule of Restricted Stock Activity	A summary of the Company’s restricted stock activity as of March 31, 2016 , and changes during the three months ended March 31, 2016 , is as presented as follows: Restricted Stock Shares Weighted-Average Unvested at January 1, 2016 272,755 $ 65.90 Granted 57,670 74.73 Vested (98,102 ) 50.83 Forfeited (5,510 ) 71.30 Unvested at March 31, 2016 226,813 $ 74.53
Schedule of Compensation Cost for Restricted Stock	Total compensation cost for restricted shares is as follows: Three Months Ended 2016 2015 Cost of goods sold $ 128 $ 142 Selling, general and administrative expenses 1,530 2,257 Total expense before income taxes 1,658 2,399 Income tax benefit (513 ) (690 ) Total expense after income taxes $ 1,145 $ 1,709
Schedule of Unvested Cash-settled Restricted Stock Activity	A summary of the Company’s unvested cash-settled restricted stock activity as of March 31, 2016 , and changes during the three months ended March 31, 2016 , is presented in the following table: Cash-Settled Restricted Stock Shares Weighted-Average Unvested at January 1, 2016 110,860 $ 76.61 Granted 39,100 82.88 Vested (33,920 ) 71.81 Forfeited (4,250 ) 82.88 Unvested at March 31, 2016 111,790 $ 82.88
Schedule of Compensation Cost for Unvested Cash-settled Restricted Stock	Total compensation cost for cash-settled restricted stock is as follows: Three Months Ended 2016 2015 Cost of goods sold $ 189 $ 278 Selling, general and administrative expenses 500 440 Total expense before income taxes 689 718 Income tax benefit (98 ) (116 ) Total expense after income taxes $ 591 $ 602
Schedule of Weighted Average Performance Share Units Fair Values and Assumptions	Weighted average performance share unit fair values and assumptions for the period specified are disclosed below. The performance share units are market condition awards and have been assessed at fair value on the date of grant using a Monte Carlo simulation model. Three Months Ended March 31, 2016 2015 Weighted average fair value of performance share units $111.42 $95.07 Dividend yield —% —% Volatility 17.99% 19.14% Risk-free forward interest rate 0.89% 1.01% Expected life (in years) 2.86 2.86
Schedule of Performance Shares Units Activity	A summary of the Company’s performance share unit activity as of March 31, 2016 , and changes during the three months ended March 31, 2016 , is presented in the following table: Performance Share Units Shares Weighted-Average Unvested at January 1, 2016 146,275 $ 94.80 Granted 85,130 111.42 Vested — — Forfeited (1,065 ) 94.74 Unvested at March 31, 2016 230,340 $ 100.95
Performance Shares Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Schedule of Employee Service Share-based Compensation, Allocation of Recognized Period Costs	Total compensation cost for performance share units is as follows: Three Months Ended 2016 2015 Cost of goods sold $ — $ — Selling, general and administrative expenses 1,681 1,342 Total expense before income taxes 1,681 1,342 Income tax benefit (535 ) (430 ) Total expense after income taxes $ 1,146 $ 912

Retirement Benefits (Tables)

Retirement Benefits (Tables)	3 Months Ended
	Mar. 31, 2016
Pension Plans
Components of Net Periodic Benefit Cost for Defined Benefit Plans and Other Postretirement Plans	The following tables provide the components of net periodic benefit cost for its major defined benefit plans and its other postretirement plans. Pension Benefits Three Months Ended March 31, 2016 2015 U.S. Non-U.S. U.S. Non-U.S. Service cost $ 294 $ 299 $ 375 $ 381 Interest cost 747 350 938 435 Expected return on plan assets (1,175 ) (219 ) (1,248 ) (276 ) Net amortization 827 238 824 459 Net periodic benefit cost $ 693 $ 668 $ 889 $ 999
Other Postretirement Benefit Plans
Components of Net Periodic Benefit Cost for Defined Benefit Plans and Other Postretirement Plans	Other Postretirement Benefits Three Months Ended March 31, 2016 2015 Service cost $ 132 $ 169 Interest cost 174 209 Net amortization (154 ) (108 ) Net periodic benefit cost $ 152 $ 270

Basis of Presentation and Sig41

Basis of Presentation and Significant Accounting Policies Basis of Presentation and Significant Accounting Policies (Details) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Tax benefit	$ (24,682)	$ (26,929)
Increased in diluted weighted average common shares outstanding (in shares)	950	860
New Accounting Pronouncement, Early Adoption, Effect [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Increased in diluted weighted average common shares outstanding (in shares)	175
New Accounting Pronouncement, Early Adoption, Effect [Member] | Income Tax Expense [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Tax benefit	$ 2,600

Acquisitions and Divestitures42

Acquisitions and Divestitures (Additional Information - Acquisitions) (Detail) $ in Thousands, € in Millions	Mar. 16, 2016USD ($)	Dec. 01, 2015USD ($)	Jul. 01, 2015USD ($)	Jun. 10, 2015EUR (€)	Jun. 10, 2015USD ($)	May. 29, 2015EUR (€)	May. 29, 2015USD ($)	Mar. 31, 2016USD ($)	Dec. 31, 2015USD ($)
Business Acquisition [Line Items]
Goodwill								$ 1,524,929	$ 1,396,529
Akron Brass
Business Acquisition [Line Items]
Revenues									$ 120,000
Aggregate purchase price, cash paid	$ 221,600
Goodwill	119,131							119,100
Intangible assets	92,100							92,100
Akron Brass | Trade names
Business Acquisition [Line Items]
Intangible assets	$ 32,800
Novotema, SpA
Business Acquisition [Line Items]
Aggregate purchase price, cash paid						€ 56	$ 61,100
Goodwill								34,300
Intangible assets								20,000
Goodwill not deductible for tax purposes								34,300
Alfa Valvole, s.r.l
Business Acquisition [Line Items]
Aggregate purchase price, cash paid				€ 99.8	$ 112,600
Goodwill								71,200
Intangible assets								32,100
Goodwill not deductible for tax purposes								71,200
CIDRA Precision Services, LLC
Business Acquisition [Line Items]
Aggregate purchase price, cash paid			$ 19,500
Eran-out			4,700
Goodwill								9,700
Intangible assets								12,300
Consideration transferred			24,200
Contingent consideration, liability								1,000
Goodwill deductible for tax purposes								9,700
CIDRA Precision Services, LLC | Minimum
Business Acquisition [Line Items]
Contingent consideration for acquisition			0
CIDRA Precision Services, LLC | Maximum
Business Acquisition [Line Items]
Contingent consideration for acquisition			$ 5,500
Complementary Product Line
Business Acquisition [Line Items]
Goodwill		$ 700
Consideration transferred		$ 1,900
Selling, general and administrative expenses
Business Acquisition [Line Items]
Acquisition-related transaction costs								1,000
Cost of goods sold
Business Acquisition [Line Items]
Fair value of inventory charges associated with acquisitions								$ 2,200

Acquisitions and Divestitures43

Acquisitions and Divestitures (Allocation of Acquisition Costs to Assets Acquired and Liabilities Assumed) (Details) - USD ($) $ in Thousands	Mar. 31, 2016	Mar. 16, 2016	Dec. 31, 2015
Business Acquisition [Line Items]
Goodwill	$ 1,524,929		$ 1,396,529
Akron Brass
Business Acquisition [Line Items]
Current assets, net of cash acquired		$ 51,887
Property, plant and equipment		10,332
Goodwill	119,100	119,131
Intangible assets	$ 92,100	92,100
Total assets acquired		273,450
Current liabilities		(6,531)
Deferred tax liability		(39,114)
Other noncurrent liabilities		(6,249)
Net assets acquired		$ 221,556

Acquisitions and Divestitures44

Acquisitions and Divestitures (Acquired Intangible Assets and Weighted Average Amortization Periods) (Details) - Akron Brass $ in Thousands	Mar. 16, 2016USD ($)
Acquired Finite-Lived Intangible Assets [Line Items]
Acquired intangible assets, Total	$ 59,300
Indefinite lived - Akron Brass trade name	32,800
Total acquired intangible assets	92,100
Trade names
Acquired Finite-Lived Intangible Assets [Line Items]
Acquired intangible assets, Total	$ 2,900
Acquired intangible assets, Weighted Average Life	15 years
Customer relationships
Acquired Finite-Lived Intangible Assets [Line Items]
Acquired intangible assets, Total	$ 43,500
Acquired intangible assets, Weighted Average Life	14 years
Unpatented technology
Acquired Finite-Lived Intangible Assets [Line Items]
Acquired intangible assets, Total	$ 12,900
Acquired intangible assets, Weighted Average Life	9 years

Acquisitions and Divestitures45

Acquisitions and Divestitures (Additional Information - Divestitures) (Details) - USD ($) $ in Thousands	Jul. 31, 2015	Mar. 31, 2016	Mar. 31, 2015
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Income tax expense		$ 24,682	$ 26,929
Ismatec Product Line
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Proceeds from sale of business	$ 27,700
Gain on sale of business	$ 18,100
Income tax expense		$ 4,800

Business Segments (Additional I

Business Segments (Additional Information) (Detail)	3 Months Ended
	Mar. 31, 2016segment
Segment Reporting [Abstract]
Number of reportable business segments	3

Business Segments (Schedule of

Business Segments (Schedule of Information on Company's Business Segments) (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Dec. 31, 2015
Segment Reporting Information [Line Items]
Net sales	$ 502,572	$ 502,198
Operating income	102,557	101,757
Interest expense	10,489	10,597
Other (income) expense - net	(744)	(1,723)
Income before income taxes	92,812	92,883
Total assets	3,142,298		$ 2,805,443
Intersegment elimination
Segment Reporting Information [Line Items]
Net sales	(232)	(1,792)
Corporate office and other
Segment Reporting Information [Line Items]
Operating income	(14,947)	(18,760)
Total assets	136,120		123,008
Fluid & Metering Technologies
Segment Reporting Information [Line Items]
Segment sales	211,843	218,248
Operating income	51,401	55,898
Fluid & Metering Technologies | External customers
Segment Reporting Information [Line Items]
Segment sales	211,709	217,932
Total assets	1,139,577		1,125,266
Fluid & Metering Technologies | Intersegment elimination
Segment Reporting Information [Line Items]
Segment sales	134	316
Health & Science Technologies
Segment Reporting Information [Line Items]
Segment sales	186,343	179,120
Operating income	40,699	37,457
Health & Science Technologies | External customers
Segment Reporting Information [Line Items]
Segment sales	186,251	177,750
Total assets	1,123,683		1,108,302
Health & Science Technologies | Intersegment elimination
Segment Reporting Information [Line Items]
Segment sales	92	1,370
Fire & Safety/Diversified Products
Segment Reporting Information [Line Items]
Segment sales	104,618	106,622
Operating income	25,404	27,162
Fire & Safety/Diversified Products | External customers
Segment Reporting Information [Line Items]
Segment sales	104,612	106,516
Total assets	742,918		$ 448,867
Fire & Safety/Diversified Products | Intersegment elimination
Segment Reporting Information [Line Items]
Segment sales	$ 6	$ 106

Earnings Per Common Share (Addi

Earnings Per Common Share (Additional Information) (Detail) - shares shares in Millions	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Earnings Per Share [Abstract]
Option to purchase common stock shares not included in the computation of diluted EPS (in shares)	1.4	0.9

Earnings Per Common Share (Sche

Earnings Per Common Share (Schedule of Basic Weighted Average Shares Reconciles to Diluted Weighted Average Shares Outstanding) (Detail) - shares shares in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Accounting Policies [Abstract]
Basic weighted average common shares outstanding (in shares)	75,749	77,996
Dilutive effect of stock options, restricted stock, performance share units and DCUs	950	860
Diluted weighted average common shares outstanding (in shares)	76,699	78,856

Inventories (Components of Inve

Inventories (Components of Inventories) (Detail) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Inventory Disclosure [Abstract]
Raw materials and component parts	$ 163,207	$ 141,671
Work in process	36,008	32,387
Finished goods	79,015	65,066
Total	$ 278,230	$ 239,124

Goodwill and Intangible Asset51

Goodwill and Intangible Assets (Schedule of Changes in Carrying Amount of Goodwill) (Detail) $ in Thousands	3 Months Ended
	Mar. 31, 2016USD ($)
Goodwill [Roll Forward]
Balance at December 31, 2015	$ 1,396,529
Foreign currency translation and other	9,269
Acquisitions	119,131
Balance at March 31, 2016	1,524,929
Fluid & Metering Technologies
Goodwill [Roll Forward]
Balance at December 31, 2015	584,770
Foreign currency translation and other	4,990
Acquisitions	0
Balance at March 31, 2016	589,760
Health & Science Technologies
Goodwill [Roll Forward]
Balance at December 31, 2015	590,605
Foreign currency translation and other	877
Acquisitions	0
Balance at March 31, 2016	591,482
Fire & Safety/Diversified Products
Goodwill [Roll Forward]
Balance at December 31, 2015	221,154
Foreign currency translation and other	3,402
Acquisitions	119,131
Balance at March 31, 2016	$ 343,687

Goodwill and Intangible Asset52

Goodwill and Intangible Assets (Schedule of Gross Carrying Value and Accumulated Amortization for Each Major Class of Intangible Asset) (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Dec. 31, 2015
Goodwill And Intangible Assets [Line Items]
Amortized intangible assets - Gross Carrying Amount	$ 525,791	$ 463,841
Intangible assets - Gross Carrying Amount	620,691	525,941
Amortized intangible assets - Accumulated Amortization	(249,905)	(238,104)
Amortized intangible assets - Net	275,886	225,737
Intangible assets - Net	370,786	287,837
Patents
Goodwill And Intangible Assets [Line Items]
Amortized intangible assets - Gross Carrying Amount	10,255	10,202
Amortized intangible assets - Accumulated Amortization	(6,403)	(6,175)
Amortized intangible assets - Net	$ 3,852	4,027
Amortized intangible assets - Weighted Average Life	11 years
Trade names
Goodwill And Intangible Assets [Line Items]
Amortized intangible assets - Gross Carrying Amount	$ 114,090	110,658
Amortized intangible assets - Accumulated Amortization	(40,664)	(38,696)
Amortized intangible assets - Net	$ 73,426	71,962
Amortized intangible assets - Weighted Average Life	16 years
Customer relationships
Goodwill And Intangible Assets [Line Items]
Amortized intangible assets - Gross Carrying Amount	$ 302,795	257,071
Amortized intangible assets - Accumulated Amortization	(151,765)	(144,134)
Amortized intangible assets - Net	$ 151,030	112,937
Amortized intangible assets - Weighted Average Life	11 years
Non-compete agreements
Goodwill And Intangible Assets [Line Items]
Amortized intangible assets - Gross Carrying Amount	$ 0	794
Amortized intangible assets - Accumulated Amortization	0	(775)
Amortized intangible assets - Net	$ 0	19
Amortized intangible assets - Weighted Average Life	3 years
Unpatented technology
Goodwill And Intangible Assets [Line Items]
Amortized intangible assets - Gross Carrying Amount	$ 92,102	78,562
Amortized intangible assets - Accumulated Amortization	(45,332)	(42,745)
Amortized intangible assets - Net	$ 46,770	35,817
Amortized intangible assets - Weighted Average Life	10 years
Other
Goodwill And Intangible Assets [Line Items]
Amortized intangible assets - Gross Carrying Amount	$ 6,549	6,554
Amortized intangible assets - Accumulated Amortization	(5,741)	(5,579)
Amortized intangible assets - Net	$ 808	975
Amortized intangible assets - Weighted Average Life	10 years
Banjo trade name
Goodwill And Intangible Assets [Line Items]
Indefinite lived intangible assets - Gross Carrying Amount	$ 62,100	62,100
Indefinite lived intangible assets - Net	62,100	62,100
Akron Brass trade name
Goodwill And Intangible Assets [Line Items]
Indefinite lived intangible assets - Gross Carrying Amount	32,800	0
Indefinite lived intangible assets - Net	$ 32,800	$ 0

Goodwill and Intangible Asset53

Goodwill and Intangible Assets (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Oct. 31, 2015
Goodwill and Intangible Assets Disclosure [Line Items]
Reporting unit, percentage of fair value in excess of carrying amount			70.00%
Amortization of intangible assets	$ 10,890	$ 9,930
Intangible assets, amortization expense
Remaining of 2016	34,500
2,017	37,400
2,018	27,200
2,019	24,400
2,020	$ 23,500
Banjo trade name
Goodwill and Intangible Assets Disclosure [Line Items]
Reporting unit, percentage of fair value in excess of carrying amount			20.00%
IOP reporting unit
Goodwill and Intangible Assets Disclosure [Line Items]
Reporting unit, percentage of fair value in excess of carrying amount			20.00%

Accrued Expenses (Components of

Accrued Expenses (Components of Accrued Expenses) (Detail) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Payables and Accruals [Abstract]
Payroll and related items	$ 59,969	$ 67,209
Management incentive compensation	5,399	12,599
Income taxes payable	14,732	3,836
Insurance	8,835	9,505
Warranty	6,843	7,936
Deferred revenue	11,660	9,885
Restructuring	3,424	6,636
Liability for uncertain tax positions	5,146	3,498
Accrued interest	8,712	1,230
Contingent consideration for acquisition	1,000	4,705
Other	25,046	26,633
Total accrued expenses	$ 150,766	$ 153,672

Other Noncurrent Liabilities (C

Other Noncurrent Liabilities (Components of Noncurrent Liabilities) (Detail) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Other Liabilities Disclosure [Abstract]
Pension and retiree medical obligations	$ 83,128	$ 76,190
Liability for uncertain tax positions	2,623	4,252
Deferred revenue	3,258	3,763
Other	19,253	18,160
Total other noncurrent liabilities	$ 108,262	$ 102,365

Borrowings (Schedule of Borrowi

Borrowings (Schedule of Borrowings) (Detail) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Debt Instrument [Line Items]
Total borrowings	$ 1,101,889	$ 847,436
Less current portion	1,333	1,087
Less deferred debt issuance costs	4,945	5,203
Less unaccreted debt discount	1,379	1,439
Total long-term borrowings	1,094,232	839,707
4.5% Senior Notes, due December 2020
Debt Instrument [Line Items]
Total borrowings	300,000	300,000
4.2% Senior Notes, due December 2021
Debt Instrument [Line Items]
Total borrowings	350,000	350,000
Revolving Facility
Debt Instrument [Line Items]
Revolving Facility	450,000	195,000
Other borrowings
Debt Instrument [Line Items]
Other borrowings	$ 1,889	$ 2,436

Borrowings (Schedule of Borro57

Borrowings (Schedule of Borrowings 1) (Detail)	3 Months Ended	12 Months Ended
	Mar. 31, 2016	Dec. 31, 2015
4.2% Senior Notes, due December 2021
Debt Instrument [Line Items]
Stated interest rate	4.20%
Senior Notes, maturity date	2021-12	2021-12
4.5% Senior Notes, due December 2020
Debt Instrument [Line Items]
Stated interest rate	4.50%
Senior Notes, maturity date	2020-12	2020-12

Borrowings (Additional Informat

Borrowings (Additional Information) (Detail)	Jun. 23, 2015USD ($)	Mar. 31, 2016USD ($)covenant	Dec. 31, 2015USD ($)	Dec. 31, 2011
Line of Credit Facility [Line Items]
Number of financial covenants | covenant		2
4.5% Senior Notes, due December 2020
Line of Credit Facility [Line Items]
Stated interest rate		4.50%		4.50%
4.2% Senior Notes, due December 2021
Line of Credit Facility [Line Items]
Stated interest rate		4.20%		4.20%
Minimum | Other borrowings
Line of Credit Facility [Line Items]
Stated interest rate		0.60%
Minimum | 2.58% Senior Euro Notes, due June 2015
Line of Credit Facility [Line Items]
Interest coverage ratio		3
Maximum | Other borrowings
Line of Credit Facility [Line Items]
Stated interest rate		2.80%
Revolving Facility
Line of Credit Facility [Line Items]
Current borrowings under revolving facility		$ 450,000,000	$ 195,000,000
Outstanding letters of credit		7,600,000
Revolving Facility, amount available to borrow		$ 242,400,000
Revolving Facility | Maximum
Line of Credit Facility [Line Items]
Leverage ratio		3.50
Other borrowings
Line of Credit Facility [Line Items]
Other borrowings		$ 1,889,000	$ 2,436,000
Existing Credit Agreement
Line of Credit Facility [Line Items]
Expiration period		5 years
Revolving facility principal amount		$ 700,000,000
Expiration date		Jun. 27, 2016
Credit Agreement
Line of Credit Facility [Line Items]
Expiration date	Jun. 23, 2020
Borrowing capacity	$ 700,000,000
Extension period	1 year
Aggregate lending commitments	$ 350,000,000
Applicable margin over LIBOR		1.10%
Effective percentage		1.56%
Credit Agreement | Minimum
Line of Credit Facility [Line Items]
Applicable margin over LIBOR		0.005%
Credit Agreement | Maximum
Line of Credit Facility [Line Items]
Applicable margin over LIBOR		1.50%
Credit Agreement | Letters Of Credit
Line of Credit Facility [Line Items]
Borrowing capacity	75,000,000
Credit Agreement | Swing line Loans
Line of Credit Facility [Line Items]
Borrowing capacity	$ 50,000,000

Derivative Instruments (Additio

Derivative Instruments (Additional Information) (Detail) $ in Thousands	3 Months Ended		24 Months Ended
	Mar. 31, 2016USD ($)	Mar. 31, 2015USD ($)	Dec. 31, 2011USD ($)instrument
Derivative [Line Items]
Amortization of interest expense	$ 378	$ 434
Amount to be recognized from hedged transactions within 12 months, approximate	$ 6,800
4.2% Senior Notes, due December 2021
Derivative [Line Items]
Interest rate on senior notes	4.20%		4.20%
4.5% Senior Notes, due December 2020
Derivative [Line Items]
Interest rate on senior notes	4.50%		4.50%
Interest Rate Contract
Derivative [Line Items]
Number of instruments held | instrument			2
Interest Rate Exchange Agreement Expiring 2010 and 2011
Derivative [Line Items]
Amortization of interest expense			$ 68,900
Term of amortized interest expense, years			10 years

Fair Value Measurements (Schedu

Fair Value Measurements (Schedule of Company Financial Assets and Liabilities at Fair Value on Recurring Basis) (Detail) - Fair Value, Measurements, Recurring - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Money market investment	$ 31,161	$ 21,931
Available for sale securities	5,047	4,794
Contingent consideration	(1,000)	(4,705)
Fair Value, Inputs, Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Money market investment	31,161	21,931
Available for sale securities	5,047	4,794
Contingent consideration	0	0
Fair Value, Inputs, Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Money market investment	0	0
Available for sale securities	0	0
Contingent consideration	0	0
Fair Value, Inputs, Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Money market investment	0	0
Available for sale securities	0	0
Contingent consideration	$ (1,000)	$ (4,705)

Fair Value Measurements (Additi

Fair Value Measurements (Additional Information) (Detail) - USD ($) $ in Millions	Mar. 31, 2016	Dec. 31, 2015
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value of our revolving facility and senior debt	$ 1,122.4
Carrying value of our revolving facility and senior debt	$ 1,098.6
4.5% Senior Notes, due December 2020
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Stated interest rate	4.50%
4.2% Senior Notes, due December 2021
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Stated interest rate	4.20%
CIDRA Precision Services, LLC
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Contingent consideration	$ 1
Accrued Expenses
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Contingent consideration	$ 1	$ 4.7

Restructuring (Narrative) (Deta

Restructuring (Narrative) (Details) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Restructuring and Related Activities [Abstract]
Restructuring reserve	$ 3,424	$ 6,636

Restructuring (Restructuring Ac

Restructuring (Restructuring Accruals) (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2016USD ($)
Restructuring Reserve [Roll Forward]
Balance at January 1, 2016	$ 6,636
Payments, utilization and other	(3,212)
Balance at March 31, 2016	$ 3,424

Other Comprehensive Income (L64

Other Comprehensive Income (Loss) (Components of Other Comprehensive Income (Loss)) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Equity [Abstract]
Cumulative translation adjustment, Pre-tax	$ 16,217	$ (56,637)
Cumulative translation adjustment, Tax	0	0
Cumulative translation adjustment, Net of Tax	16,217	(56,637)
Pension and other postretirement adjustments, Pre-tax	993	1,175
Pension and other postretirement adjustments, Tax	(322)	(395)
Pension and other postretirement adjustments, Net of Tax	671	780
Reclassification adjustments for derivatives, Pre-tax	1,724	1,772
Reclassification adjustments for derivatives, Tax	(627)	(642)
Reclassification adjustments for derivatives, Net of tax	1,097	1,130
Total other comprehensive income (loss), Pre-tax	18,934	(53,690)
Total other comprehensive income (loss), Tax	(949)	(1,037)
Other comprehensive income (loss)	$ 17,985	$ (54,727)

Other Comprehensive Income (L65

Other Comprehensive Income (Loss) (Amounts Reclassified from Accumulated Other Comprehensive Income (Loss)) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Selling, general and administrative expenses	$ 120,778	$ 124,284
Interest expense	10,489	10,597
Provision for income taxes	(24,682)	(26,929)
Reclassification out of Accumulated Other Comprehensive Income | Pension and Other Postretirement Plans
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Selling, general and administrative expenses	993	1,175
Total before tax	993	1,175
Provision for income taxes	(322)	(395)
Total net of tax	671	780
Reclassification out of Accumulated Other Comprehensive Income | Derivatives
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Total before tax	1,724	1,772
Interest expense	1,724	1,772
Provision for income taxes	(627)	(642)
Total net of tax	$ 1,097	$ 1,130

Common and Preferred Stock (Add

Common and Preferred Stock (Additional Information) (Detail) - USD ($) $ / shares in Units, $ in Thousands	Nov. 06, 2014	Mar. 31, 2016	Mar. 31, 2015	Dec. 31, 2015
Stockholders Equity Note [Line Items]
Increase in share repurchase authorized amount	$ 300,000
Purchase of common stock (in shares)		628,493	829,744
Repurchase of common stock, including subsequent settlements		$ 45,800	$ 62,100
Purchase of common stock		46,864	62,132
Remaining authorized repurchase amount		$ 589,200
Common stock, authorized (in shares)		150,000,000		150,000,000
Common stock, par value (in dollars per share)		$ 0.01		$ 0.01
Preferred stock, authorized (in shares)		5,000,000		5,000,000
Preferred stock, par value (in dollars per share)		$ 0.01		$ 0.01
Preferred stock, issued (in shares)		0		0
October Settlement
Stockholders Equity Note [Line Items]
Purchase of common stock		$ 1,200	$ 2,700

Share Based Compensation - Addi

Share Based Compensation - Additional Information (Detail) - USD ($) $ in Millions	1 Months Ended	3 Months Ended
	Feb. 29, 2016	Mar. 31, 2016
Stock Option
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total unrecognized compensation cost		$ 16
Weighted-average period of total unrecognized compensation cost, in years		1 year 7 months 6 days
Unvested Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total unrecognized compensation cost		$ 12.3
Weighted-average period of total unrecognized compensation cost, in years		1 year 2 months 12 days
Performance Shares Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock issued during period, shares	87,600
Total unrecognized compensation cost		$ 11.5
Weighted-average period of total unrecognized compensation cost, in years		1 year 2 months 12 days

Share-Based Compensation - Sche

Share-Based Compensation - Schedule of Weighted Average Option Fair Values and Assumptions (Detail) - Stock Option - $ / shares	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average fair value of grants	$ 18.40	$ 20.40
Dividend yield	1.70%	1.42%
Volatility	29.71%	29.94%
Risk-free interest rate, minimum	0.53%	0.23%
Risk-free interest rate, maximum	2.50%	2.75%
Expected life (in years)	5 years 10 months 28 days	5 years 10 months 24 days

Share-Based Compensation - Sc69

Share-Based Compensation - Schedule of Compensation Cost for Stock Options (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Share-based compensation expense	$ 6,442	$ 6,882
Stock Option
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Share-based compensation expense	2,414	2,423
Income tax benefit	(760)	(767)
Total expense after income taxes	1,654	1,656
Stock Option | Cost of goods sold
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Share-based compensation expense	119	226
Stock Option | Selling, general and administrative expenses
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Share-based compensation expense	$ 2,295	$ 2,197

Share-Based Compensation - Stoc

Share-Based Compensation - Stock Options Activity (Detail) - Stock Option - USD ($)	3 Months Ended	12 Months Ended
	Mar. 31, 2016	Dec. 31, 2015
Shares
Beginning balance (in shares)	2,266,433
Granted (in shares)	546,185
Exercised (in shares)	(210,413)
Forfeited/Expired (in shares)	(31,010)
Ending balance (in shares)	2,571,195	2,266,433
Vested and expected to vest (in shares)	2,392,411
Exercisable (in shares)	1,373,554
Weighted Average Price
Beginning Balance, Weighted Average Price (in dollars per share)	$ 54.05
Granted, Weighted Average Price (in dollars per share)	74.75
Exercised, Weighted Average Price (in dollars per share)	39.24
Forfeited/Expired, Weighted Average Price (in dollars per share)	70.17
Ending Balance, Weighted Average Price (in dollars per share)	$ 59.46	$ 54.05
Weighted-Average Remaining Contractual Term
Weighted-Average Remaining Contractual Term	7 years 2 months 27 days	6 years 6 months 29 days
Aggregate Intrinsic Value
Stock options outstanding, Aggregate intrinsic value	$ 60,206,101	$ 51,918,028
Vested and expected to vest , Weighted Average Price (in dollars per share)	$ 58.33
Exercisable, Weighted Average Price (in dollars per share)	$ 47.40
Weighted-Average Remaining Contractual Term, Vested and expected to vest	7 years 1 month 2 days
Weighted-Average Remaining Contractual Term, Exercisable	5 years 8 months 9 days
Stock options, vested and expected to vest aggregate intrinsic value	$ 58,731,553
Stock options, exercisable aggregate intrinsic value	$ 48,736,086

Share-Based Compensation - Rest

Share-Based Compensation - Restricted Stock Units Activity (Detail) - Restricted Stock	3 Months Ended
	Mar. 31, 2016$ / sharesshares
Shares
Unvested, Beginning balance (in shares) | shares	272,755
Granted (in shares) | shares	57,670
Vested (in shares) | shares	(98,102)
Forfeited (in shares) | shares	(5,510)
Unvested, Ending balance (in shares) | shares	226,813
Weighted-Average Grant Date Fair Value
Unvested, Beginning balance (in dollars per share) | $ / shares	$ 65.90
Granted (in dollars per share) | $ / shares	74.73
Vested (in dollars per share) | $ / shares	50.83
Forfeited (in dollars per share) | $ / shares	71.30
Unvested, Ending balance (in dollars per share) | $ / shares	$ 74.53

Share-Based Compensation - Sc72

Share-Based Compensation - Schedule of Compensation Cost for Restricted Stock Units (Details) - Restricted Stock - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total expense before income taxes	$ 1,658	$ 2,399
Income tax benefit	(513)	(690)
Total expense after income taxes	1,145	1,709
Cost of goods sold
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total expense before income taxes	128	142
Selling, general and administrative expenses
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total expense before income taxes	$ 1,530	$ 2,257

Share-Based Compensation - Cash

Share-Based Compensation - Cash-settled Restricted Stock Activity (Details) - Cash-settled Restricted Stock	3 Months Ended
	Mar. 31, 2016$ / sharesshares
Shares
Unvested, Beginning balance (in shares) | shares	110,860
Granted (in shares) | shares	39,100
Vested (in shares) | shares	(33,920)
Forfeited (in shares) | shares	(4,250)
Unvested, Ending balance (in shares) | shares	111,790
Weighted-Average Grant Date Fair Value
Unvested, Beginning balance (in dollars per share) | $ / shares	$ 76.61
Granted (in dollars per share) | $ / shares	82.88
Vested (in dollars per share) | $ / shares	71.81
Forfeited (in dollars per share) | $ / shares	82.88
Unvested, Ending balance (in dollars per share) | $ / shares	$ 82.88

Share-Based Compensation - Sc74

Share-Based Compensation - Schedule of Compensation Cost for Cash-settled Restricted Stock (Details) - Cash-settled Restricted Stock - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total expense before income taxes	$ 689	$ 718
Income tax benefit	(98)	(116)
Total expense after income taxes	591	602
Cost of goods sold
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total expense before income taxes	189	278
Selling, general and administrative expenses
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total expense before income taxes	$ 500	$ 440

Share-Based Compensation - Sc75

Share-Based Compensation - Schedule of Weighted Average Performance Share Units Fair Values and Assumptions (Detail) - Performance Shares Units - $ / shares	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average fair value of grants	$ 111.42	$ 95.07
Dividend yield	0.00%	0.00%
Volatility	17.99%	19.14%
Risk-free interest rate	0.89%	1.01%
Expected life (in years)	2 years 10 months 10 days	2 years 10 months 10 days

Share-Based Compensation - Perf

Share-Based Compensation - Performance Share Unit Activity (Details) - Performance Shares Units	3 Months Ended
	Mar. 31, 2016$ / sharesshares
Shares
Unvested, Beginning balance (in shares) | shares	146,275
Granted (in shares) | shares	85,130
Vested (in shares) | shares	0
Forfeited (in shares) | shares	(1,065)
Unvested, Ending balance (in shares) | shares	230,340
Weighted-Average Grant Date Fair Value
Unvested, Beginning balance (in dollars per share) | $ / shares	$ 94.80
Granted (in dollars per share) | $ / shares	111.42
Vested (in dollars per share) | $ / shares	0
Forfeited (in dollars per share) | $ / shares	94.74
Unvested, Ending balance (in dollars per share) | $ / shares	$ 100.95

Share-Based Compensation - Sc77

Share-Based Compensation - Schedule of Compensation Cost for Performance Share Units (Details) - Performance Shares Units - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total expense before income taxes	$ 1,681	$ 1,342
Income tax benefit	(535)	(430)
Total expense after income taxes	1,146	912
Cost of goods sold
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total expense before income taxes	0	0
Selling, general and administrative expenses
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total expense before income taxes	$ 1,681	$ 1,342

Retirement Benefits (Components

Retirement Benefits (Components of Net Periodic Benefit Cost for Defined Benefit Plans and Other Postretirement Plans) (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
U.S.
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Service cost	$ 294	$ 375
Interest cost	747	938
Expected return on plan assets	(1,175)	(1,248)
Net amortization	827	824
Net periodic benefit cost	693	889
Non-U.S.
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Service cost	299	381
Interest cost	350	435
Expected return on plan assets	(219)	(276)
Net amortization	238	459
Net periodic benefit cost	668	999
Other Postretirement Benefit Plans
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Service cost	132	169
Interest cost	174	209
Net amortization	(154)	(108)
Net periodic benefit cost	$ 152	$ 270

Retirement Benefits (Additional

Retirement Benefits (Additional Information) (Detail) - USD ($) $ in Millions	3 Months Ended	12 Months Ended
	Mar. 31, 2016	Dec. 31, 2015
Defined Benefit Plan Disclosure [Line Items]
Contributions by employer	$ 0.7
Pension Plans
Defined Benefit Plan Disclosure [Line Items]
Expected contribution for next fiscal year		$ 6.1
Expected contributions in current fiscal year	5.4
Other Postretirement Benefit Plans
Defined Benefit Plan Disclosure [Line Items]
Expected contribution for next fiscal year		$ 0.9
Expected contributions in current fiscal year	$ 0.9

Income Taxes (Additional Inform

Income Taxes (Additional Information) (Detail) - USD ($)	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Significant Change in Unrecognized Tax Benefits is Reasonably Possible [Line Items]
Provision for income taxes	$ 24,682,000	$ 26,929,000
Effective tax rate	26.60%	29.00%
Minimum
Significant Change in Unrecognized Tax Benefits is Reasonably Possible [Line Items]
Reasonably possible change in unrecognized tax benefits over next 12 months	$ 0
Maximum
Significant Change in Unrecognized Tax Benefits is Reasonably Possible [Line Items]
Reasonably possible change in unrecognized tax benefits over next 12 months	$ 5,100,000