IDEX (IEX) 10-Q 26 Jul 17 2017 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2017	Jul. 19, 2017
Document and Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jun. 30, 2017
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q2
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		76,425,918

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016
Current assets
Cash and cash equivalents	$ 218,361	$ 235,964
Receivables, less allowance for doubtful accounts of $8,218 at June 30, 2017 and $8,078 at December 31, 2016	307,755	272,813
Inventories	264,545	252,859
Other current assets	70,757	61,085
Total current assets	861,418	822,721
Property, plant and equipment — net	254,230	247,816
Goodwill	1,666,747	1,632,592
Intangible assets — net	425,432	435,504
Other noncurrent assets	16,338	16,311
Total assets	3,224,165	3,154,944
Current liabilities
Trade accounts payable	139,377	128,933
Accrued expenses	145,824	152,852
Short-term borrowings	350	1,046
Dividends payable	28,354	26,327
Total current liabilities	313,905	309,158
Long-term borrowings	888,495	1,014,235
Deferred income taxes	171,877	166,427
Other noncurrent liabilities	122,877	121,230
Total liabilities	1,497,154	1,611,050
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: 90,175,732 shares at June 30, 2017 and 90,200,951 shares at December 31, 2016	902	902
Additional paid-in capital	707,468	697,213
Retained earnings	1,937,357	1,834,739
Treasury stock at cost: 13,530,364 shares at June 30, 2017 and 13,760,266 shares at December 31, 2016	(789,936)	(787,307)
Accumulated other comprehensive income (loss)	(128,780)	(201,653)
Total shareholders’ equity	1,727,011	1,543,894
Total liabilities and shareholders’ equity	$ 3,224,165	$ 3,154,944

CONDENSED CONSOLIDATED BALANCE3

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016
Statement of Financial Position [Abstract]
Receivables, allowance for doubtful accounts	$ 8,218	$ 8,078
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)	90,175,732	90,200,951
Treasury stock, shares (in shares)	13,530,364	13,760,266

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Income Statement [Abstract]
Net sales	$ 573,366	$ 549,696	$ 1,126,918	$ 1,052,268
Cost of sales	316,441	305,638	619,052	584,875
Gross profit	256,925	244,058	507,866	467,393
Selling, general and administrative expenses	131,792	130,235	262,265	250,225
Restructuring expenses	0	0	4,797	0
Operating income	125,133	113,823	240,804	217,168
Other (income) expense - net	372	(1,027)	64	(983)
Interest expense	11,304	11,205	22,856	21,694
Income before income taxes	113,457	103,645	217,884	196,457
Provision for income taxes	29,613	27,886	58,141	52,568
Net income	$ 83,844	$ 75,759	$ 159,743	$ 143,889
Basic earnings per common share (in dollars per share)	$ 1.10	$ 1	$ 2.09	$ 1.89
Diluted earnings per common share (in dollars per share)	$ 1.08	$ 0.99	$ 2.07	$ 1.87
Share data:
Basic weighted average common shares outstanding (in shares)	76,220	75,690	76,167	75,719
Diluted weighted average common shares outstanding (in shares)	77,320	76,674	77,107	76,687

CONDENSED CONSOLIDATED STATEME5

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Statement of Comprehensive Income [Abstract]
Net income	$ 83,844	$ 75,759	$ 159,743	$ 143,889
Other comprehensive income (loss)
Reclassification adjustments for derivatives, net of tax	1,063	1,093	2,105	2,190
Pension and other postretirement adjustments, net of tax	1,280	591	2,404	1,262
Cumulative translation adjustment	47,314	(27,043)	68,364	(10,826)
Other comprehensive income (loss)	49,657	(25,359)	72,873	(7,374)
Comprehensive income	$ 133,501	$ 50,400	$ 232,616	$ 136,515

CONDENSED CONSOLIDATED STATEME6

CONDENSED CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY - 6 months ended Jun. 30, 2017 - 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, December 31, 2016 at Dec. 31, 2016	$ 1,543,894	$ 698,115	$ 1,834,739	$ (155,544)	$ (27,852)	$ (18,257)	$ (787,307)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	159,743		159,743
Cumulative translation adjustment	68,364			68,364
Net change in retirement obligations (net of tax of $1,146)	2,404				2,404
Net change on derivatives designated as cash flow hedges (net of tax of $1,218)	2,105					2,105
Issuance of 335,902 shares of common stock from issuance of unvested shares, performance share units and exercise of stock options (net of tax of $4,998)	12,984						12,984
Repurchase of 106,000 shares of common stock	(9,799)						(9,799)
Unvested shares surrendered for tax withholding	(5,814)						(5,814)
Share-based compensation	10,255	10,255
Cash dividends declared - $0.74 per common share outstanding	57,125		57,125
Balance, June 30, 2017 at Jun. 30, 2017	$ 1,727,011	$ 708,370	$ 1,937,357	$ (87,180)	$ (25,448)	$ (16,152)	$ (789,936)

CONDENSED CONSOLIDATED STATEME7

CONDENSED CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY (Parenthetical) $ in Thousands	6 Months Ended
	Jun. 30, 2017USD ($)$ / sharesshares
Statement of Stockholders' Equity [Abstract]
Pension and other postretirement adjustments, tax	$ 1,146
Amortization of forward starting swaps, tax	$ 1,218
Issuance of common stock from performance share units and exercise of stock options (in shares) | shares	335,902
Issuance of common stock from exercise of stock options and deferred compensation plans, tax amount	$ 4,998
Repurchase of common stock (in shares) | shares	106,000
Cash dividends declared, per common share outstanding (in dollars per share) | $ / shares	$ 0.74

CONDENSED CONSOLIDATED STATEME8

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016
Cash flows from operating activities
Net income	$ 159,743	$ 143,889
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	18,633	18,986
Amortization of intangible assets	23,893	23,146
Amortization of debt issuance costs	659	758
Share-based compensation expense	12,398	11,603
Deferred income taxes	2,414	3,669
Non-cash interest expense associated with forward starting swaps	3,323	3,443
Changes in (net of effect from acquisitions):
Receivables	(31,110)	(22,625)
Inventories	(4,796)	11,386
Other current assets	(8,446)	(17,233)
Trade accounts payable	6,469	(3,367)
Accrued expenses	(9,799)	(12,675)
Other - net	(801)	(2,137)
Net cash flows provided by operating activities	172,580	158,843
Cash flows from investing activities
Additions of property, plant and equipment	(19,539)	(17,052)
Acquisition of businesses, net of cash acquired	0	(221,556)
Other - net	96	27
Net cash flows used in investing activities	(19,443)	(238,581)
Cash flows from financing activities
Borrowings under revolving facilities	33,000	280,391
Payments under revolving facilities	(166,297)	(266,203)
Debt issuance costs	0	(92)
Dividends paid	(54,572)	(51,430)
Proceeds from stock option exercises	12,984	16,934
Purchase of common stock	(9,799)	(55,971)
Unvested shares surrendered for tax withholding	(5,814)	(4,830)
Settlement of foreign exchange contracts	4,406	0
Net cash flows (used in) provided by financing activities	(186,092)	118,799
Effect of exchange rate changes on cash and cash equivalents	15,352	(5,591)
Net (decrease) increase in cash	(17,603)	33,470
Cash and cash equivalents at beginning of year	235,964	328,018
Cash and cash equivalents at end of period	218,361	361,488
Cash paid for:
Interest	19,052	17,019
Income taxes - net	50,709	49,142
3.20% Senior Notes, due June 2023
Cash flows from financing activities
Proceeds from Senior Notes	0	100,000
3.37% Senior Notes, due June 2025
Cash flows from financing activities
Proceeds from Senior Notes	$ 0	$ 100,000

CONDENSED CONSOLIDATED STATEME9

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Parenthetical)	Jun. 30, 2017
3.20% Senior Notes, due June 2023
Stated interest rate	3.20%
3.37% Senior Notes, due June 2025
Stated interest rate	3.37%

Basis of Presentation and Signi

Basis of Presentation and Significant Accounting Policies	6 Months Ended
	Jun. 30, 2017
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 and six months ended June 30, 2017 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, 2016 . Recently Adopted Accounting Standards In March 2017, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2017-07, Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost, which amends the requirements related to the income statement presentation of the components of net periodic benefit cost for a company’s sponsored defined benefit pension and other postretirement plans. Under this ASU, companies are required to disaggregate the current service cost component from the other components of net benefit cost and present it with other current compensation costs for related employees in the income statement and present the other components elsewhere in the income statement and outside of income from operations if such a subtotal is presented. This ASU also requires companies to disclose the income statement lines that contain the other components if they are not presented on appropriately described separate lines. In addition, only the service cost component of periodic net benefit cost is eligible for capitalization. The Company elected to early adopt this standard in the quarter ended March 31, 2017 as presenting the service cost within income from operations is more indicative of our current pension cost. The Company adopted this standard retrospectively and thus $0.8 million and $1.6 million were reclassified from Selling, general and administrative expenses to Other (income) expense - net for the three and six months ended June 30, 2016, respectively, to conform to current period presentation. The Company elected to apply the practical expedient that permits the use of previously disclosed service cost and other costs from the prior year’s pension and other postretirement benefit plan footnote in the comparative periods as appropriate estimates when retrospectively changing the presentation of these costs in the income statement. The Company included the required disclosures and the changes resulting from the adoption of this standard in Note 16. In January 2017, the FASB issued ASU 2017-04, Simplifying the Test for Goodwill Impairment , which eliminates Step 2 from the goodwill impairment test. Under this ASU, if the carrying amount of a reporting unit exceeds its fair value, an impairment loss will be recognized in an amount equal to the excess, limited to the total amount of goodwill allocated to the reporting unit. This ASU also eliminated the requirements for any reporting unit with a zero or negative carrying amount to perform a qualitative assessment and, if it fails that qualitative test, to perform Step 2 of the goodwill impairment test. In addition, companies will be required to disclose the amount of goodwill allocated to each reporting unit with a zero or negative carrying amount of net assets. The Company early adopted this standard on January 1, 2017. The adoption of this standard did not have a material impact on our consolidated financial statements. In July 2015, the FASB issued ASU 2015-11, Simplifying the Measurement of Inventory . Under this guidance, entities utilizing the FIFO or average cost method should measure inventory at the lower of cost or net realizable value, where net realizable value is defined as the estimated selling price in the ordinary course of business, less reasonably predictable costs of completion, disposal and transportation. The Company adopted this guidance on January 1, 2017. The adoption of this standard did not have a material impact on our consolidated financial statements. Recently Issued Accounting Standards In January 2017, the FASB issued ASU 2017-01, Clarifying the Definition of a Business , which clarifies the definition of a business and assists entities with evaluating whether transactions should be accounted for as acquisitions or disposals of assets or businesses. Under this guidance, when substantially all of the fair value of gross assets acquired is concentrated in a single asset or group of similar assets, the assets acquired would not represent a business. In addition, in order to be considered a business, an acquisition would have to include at a minimum an input and a substantive process that together significantly contribute to the ability to create an output. The amended guidance also narrows the definition of outputs by more closely aligning it with how outputs are described in FASB guidance for revenue recognition. This guidance is effective for interim and annual periods for the Company on January 1, 2018, with early adoption permitted. The Company does not believe the guidance will have a material impact on its consolidated financial statements. In February 2016, the FASB issued ASU 2016-02, Leases , which sets out the principles for the recognition, measurement, presentation and disclosure of leases for both parties to a contract (i.e. lessees and lessors). The standard 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. The new standard requires lessors to account for leases using an approach that is substantially equivalent to existing guidance for sales-type leases, direct financing leases and operating leases. This standard is effective for fiscal years beginning after December 15, 2018 and interim periods within those fiscal years. Companies are permitted to adopt the standard early and a modified retrospective application is required. The Company is currently evaluating the impact of adopting the new guidance on its consolidated financial statements. In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers, which will replace numerous requirements in U.S. GAAP, including industry-specific requirements, and provide companies with a new five-step model for recognizing revenue from contracts with customers. 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 FASB has also issued the following standards which clarify ASU 2014-09 and have the same effective date as the original standard: ASU 2016-08, Revenue from Contracts with Customers: Principal versus Agent Considerations (Reporting Revenue Gross versus Net) ; ASU 2016-10, Revenue from Contracts with Customers: Identifying Performance Obligations and Licensing ; ASU 2016-12 , Revenue from Contracts with Customers: Narrow-Scope Improvements and Practical Expedients ; and ASU 2016-20 , Technical Corrections and Improvements to Topic 606, Revenue from Contracts with Customers. In 2016, we established an implementation team and analyzed the impact of the standard by surveying business units and reviewing contracts to identify potential differences that may result from applying the requirements of the new standard. We have substantially completed our contract reviews. These contract reviews generally supported the recognition of revenue at a point in time, which is consistent with the current revenue recognition model used by most of our business units. As a result, we expect revenue recognition to remain substantially unchanged under the new standard. For our business units that currently recognize revenue under a percentage of completion model, we also expect revenue recognition to remain substantially unchanged as the contract reviews supported the recognition of revenue over time. Although we are still finalizing our assessment of the potential impacts of the new standard, we currently believe that the most significant potential change will relate to contracts for the development, manufacture and sale of customized products. Due to the complexity of certain contracts for these types of products, the actual revenue recognition treatment required under the standard will be dependent on contract-specific terms. The implementation team has reported these findings and the progress of the project to the Audit Committee. The Company is still evaluating the impact of the new guidance on its consolidated financial statements but expects to adopt the standard in 2018 using the modified retrospective method.

Acquisitions and Divestitures

Acquisitions and Divestitures	6 Months Ended
	Jun. 30, 2017
Business Combinations and Dispositions [Abstract]
Acquisitions and Divestitures	Acquisitions and Divestitures All of the Company’s acquisitions have been accounted for under 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 $0.1 million and $1.4 million of acquisition-related transaction costs in the three months ended June 30, 2017 and 2016 , respectively, and $0.2 million and $2.4 million in the six months ended June 30, 2017 and 2016 , respectively. These costs were recorded in Selling, general and administrative expenses and were related to completed transactions, pending transactions and potential transactions, including transactions that ultimately were not completed. During the three and six months ended June 30, 2016 , the Company recorded $3.6 million and $5.8 million , respectively, of fair value inventory step-up charges in Cost of sales associated with the completed 2016 acquisition of Akron Brass Holding Corporation (“Akron Brass”). 2016 Acquisitions On March 16, 2016, the Company acquired the stock of 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 operates in our Fire & Safety/Diversified Products segment. Akron Brass was acquired for cash consideration of $221.4 million . The purchase price was funded with borrowings under the Company’s revolving facilities. The final goodwill and intangible assets recognized as part of the transaction were $124.6 million and $90.4 million , respectively. The goodwill is not deductible for tax purposes. On July 1, 2016, the Company acquired the stock of AWG Fittings GmbH (“AWG Fittings”), a producer of engineered products for the safety and emergency response markets, including valves, monitors and nozzles. The business was acquired to complement and create synergies with our existing Hale, Class 1, Godiva and Akron Brass businesses. Headquartered in Ballendorf, Germany, AWG Fittings operates in our Fire & Safety/Diversified Products segment. AWG Fittings was acquired for cash consideration of $47.5 million ( €42.8 million ). The purchase price was funded with cash on hand. The final goodwill and intangible assets recognized as part of the transaction were $22.0 million and $10.3 million , respectively. The goodwill is not deductible for tax purposes. On August 31, 2016, the Company acquired the stock of SFC Koenig AG (“SFC Koenig”), a producer of highly engineered expanders and check valves for critical applications across the transportation, hydraulic, aviation and medical markets. Headquartered in Dietikon, Switzerland, SFC Koenig operates in our Health & Science Technologies segment. SFC Koenig was acquired for cash consideration of $241.1 million ( €215.9 million ). The purchase price was funded with cash on hand and borrowings under the Company’s revolving facilities. Goodwill and intangible assets recognized as part of the transaction were $139.5 million and $117.0 million , respectively. The goodwill is not deductible for tax purposes. The Company is continuing to evaluate the valuation of certain income tax liabilities associated with the SFC Koenig acquisition and is in the process of finalizing the purchase price allocation. The Company will make appropriate adjustments to the purchase price allocations prior to the completion of the measurement period, as required. Only items identified as of the acquisition date will be considered for subsequent adjustment. 2016 Divestitures The Company periodically reviews its operations for businesses which may no longer be aligned with its strategic objectives to focus on core business and customers. Any resulting gain or loss recognized due to divestitures is recorded within Loss (gain) on sale of businesses - net. On July 29, 2016, the Company completed the sale of its Hydra-Stop product line for $15.0 million in cash, resulting in a pre-tax gain on the sale of $5.8 million . In addition, the Company can earn up to $2 million based on the achievement of financial objectives for net sales in 2016 and 2017. The Company earned $1.0 million for the achievement of 2016 net sales objectives, which represents the maximum earn out for 2016. The Company can earn an additional $1.0 million based on 2017 net sales. The results of Hydra-Stop were reported within the Fluid & Metering Technologies segment and generated $7.5 million of revenues in 2016 through the date of sale. On September 9, 2016, the Company completed the sale of its Melles Griot KK (“CVI Japan”) subsidiary for $17.5 million in cash, resulting in a pre-tax loss on the sale of $7.9 million . The results of CVI Japan were reported within the Health & Science Technologies segment and generated $13.1 million of revenues in 2016 through the date of sale. On October 10, 2016, the Company completed the sale of its IETG and 40Seven subsidiaries for $2.7 million in cash, resulting in a pre-tax loss on the sale of $4.2 million . The results of IETG and 40Seven were reported within the Fluid & Metering Technologies segment and generated $8.3 million of revenues in 2016 through the date of sale. On December 30, 2016, the Company completed the sale of its Korea Electro-Optics Co., Ltd. (“CVI Korea”) subsidiary for $3.8 million in cash, resulting in a pre-tax loss on the sale of $16.0 million . The results of CVI Korea were reported within the Health & Science Technologies segment and generated $11.7 million of revenues in 2016 through the date of sale.

Business Segments

Business Segments	6 Months Ended
	Jun. 30, 2017
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, valves, flow meters, injectors, and other fluid-handling pump modules and systems and provides flow monitoring and other services for the food, chemical, general industrial, water & wastewater, agriculture and energy 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, including very high precision, low-flow rate pumping solutions required in analytical instrumentation, clinical diagnostics and drug discovery, high performance molded and extruded sealing components, 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, 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, apparatus valves, monitors, nozzles, 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 Six Months Ended 2017 2016 (1) 2017 2016 (1) Net sales Fluid & Metering Technologies External customers $ 221,123 $ 221,635 $ 437,778 $ 433,344 Intersegment sales 59 175 174 309 Total group sales 221,182 221,810 437,952 433,653 Health & Science Technologies External customers 204,297 186,453 403,872 372,704 Intersegment sales 112 115 216 207 Total group sales 204,409 186,568 404,088 372,911 Fire & Safety/Diversified Products External customers 147,946 141,608 285,268 246,220 Intersegment sales 37 3 162 9 Total group sales 147,983 141,611 285,430 246,229 Intersegment elimination (208 ) (293 ) (552 ) (525 ) Total net sales $ 573,366 $ 549,696 $ 1,126,918 $ 1,052,268 Operating income Fluid & Metering Technologies $ 60,029 $ 54,172 $ 117,842 $ 105,875 Health & Science Technologies 46,294 41,108 88,532 81,790 Fire & Safety/Diversified Products 37,197 34,420 69,823 60,074 Corporate office expense and other (2) (18,387 ) (15,877 ) (35,393 ) (30,571 ) Total operating income 125,133 113,823 240,804 217,168 Interest expense 11,304 11,205 22,856 21,694 Other (income) expense - net 372 (1,027 ) 64 (983 ) Income before income taxes $ 113,457 $ 103,645 $ 217,884 $ 196,457 (1) Certain amounts in the prior year income statement have been reclassified to conform to the current presentation due to the early adoption of ASU 2017-07. (2) Corporate office expense for the three and six months ended June 30, 2016 includes benefits of $1.0 million and $4.7 million, respectively, from the reversal of the contingent consideration related to a 2015 acquisition. June 30, December 31, Assets Fluid & Metering Technologies $ 1,092,811 $ 1,065,670 Health & Science Technologies 1,274,359 1,266,036 Fire & Safety/Diversified Products 727,423 705,735 Corporate office 129,572 117,503 Total assets $ 3,224,165 $ 3,154,944

Earnings Per Common Share

Earnings Per Common Share	6 Months Ended
	Jun. 30, 2017
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, and performance share units. 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 Six Months Ended 2017 2016 2017 2016 Basic weighted average common shares outstanding 76,220 75,690 76,167 75,719 Dilutive effect of stock options, restricted stock, and performance share units 1,100 984 940 968 Diluted weighted average common shares outstanding 77,320 76,674 77,107 76,687 Options to purchase approximately 0.4 million and 1.0 million shares of common stock for the three months ended June 30, 2017 and 2016 , respectively, and 0.5 million and 1.3 million shares of common stock for the six months ended June 30, 2017 and 2016 , respectively, were not included in the computation of diluted EPS because the effect of their inclusion would be antidilutive.

Inventories

Inventories	6 Months Ended
	Jun. 30, 2017
Inventory Disclosure [Abstract]
Inventories	Inventories The components of inventories as of June 30, 2017 and December 31, 2016 were: June 30, December 31, Raw materials and component parts $ 166,293 $ 154,278 Work in process 37,910 34,832 Finished goods 60,342 63,749 Total $ 264,545 $ 252,859 Inventories are stated at the lower of cost or net realizable value. Cost, which includes material, labor and factory overhead, is determined on a FIFO basis.

Goodwill and Intangible Assets

Goodwill and Intangible Assets	6 Months Ended
	Jun. 30, 2017
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Intangible Assets	Goodwill and Intangible Assets The changes in the carrying amount of goodwill for the six months ended June 30, 2017 , by reportable business segment, were as follows: Fluid & Metering Technologies Health & Science Technologies Fire & Safety/ Diversified Products Total Balance at December 31, 2016 $ 573,437 $ 699,299 $ 359,856 $ 1,632,592 Foreign currency translation 10,339 16,392 11,672 38,403 Acquisition adjustments — (4,248 ) — (4,248 ) Balance at June 30, 2017 $ 583,776 $ 711,443 $ 371,528 $ 1,666,747 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. In the first six months of 2017 , there were no events or circumstances that would have required an interim impairment test. Annually, on October 31, goodwill and other acquired intangible assets with indefinite lives are tested for impairment. Based on the results of our annual impairment test at October 31, 2016, all reporting units had fair values in excess of their carrying values. The following table provides the gross carrying value and accumulated amortization for each major class of intangible assets at June 30, 2017 and December 31, 2016 : At June 30, 2017 At December 31, 2016 Gross Carrying Amount Accumulated Amortization Net Weighted Average Life Gross Carrying Amount Accumulated Amortization Net Amortized intangible assets: Patents $ 9,637 $ (6,783 ) $ 2,854 11 $ 9,856 $ (6,635 ) $ 3,221 Trade names 116,483 (47,197 ) 69,286 16 113,428 (42,653 ) 70,775 Customer relationships 327,328 (125,540 ) 201,788 13 369,087 (161,065 ) 208,022 Unpatented technology 87,586 (27,293 ) 60,293 13 106,747 (44,516 ) 62,231 Other 834 (523 ) 311 10 6,527 (6,172 ) 355 Total amortized intangible assets 541,868 (207,336 ) 334,532 605,645 (261,041 ) 344,604 Indefinite lived intangible assets: Banjo trade name 62,100 — 62,100 62,100 — 62,100 Akron Brass trade name 28,800 — 28,800 28,800 — 28,800 Total intangible assets $ 632,768 $ (207,336 ) $ 425,432 $ 696,545 $ (261,041 ) $ 435,504 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 six months of 2017 , there were no events or circumstances that would have required an interim impairment test. Based on the results of our annual impairment test at October 31, 2016 , the fair value of the Banjo trade name was greater than 25% in excess of the carrying value. The Akron Brass trade name is an indefinite-lived intangible asset that was acquired as a result of the Akron Brass acquisition in March 2016 and 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 six months of 2017 , there were no events or circumstances that would have required an interim impairment test. Based on the results of our annual impairment test at October 31, 2016 , the fair value of the Akron Brass trade name was near its carrying value as a result of the acquisition of this business in March 2016. Amortization of intangible assets was $12.1 million and $23.9 million for the three and six months ended June 30, 2017 . Amortization of intangible assets was $12.3 million and $23.1 million for the three and six months ended June 30, 2016 . Based on the intangible asset balances as of June 30, 2017 , amortization expense is expected to approximate $21.5 million for the remaining six months of 2017 , $37.7 million in 2018 , $34.2 million in 2019 , $33.6 million in 2020 and $32.2 million in 2021 .

Accrued Expenses

Accrued Expenses	6 Months Ended
	Jun. 30, 2017
Payables and Accruals [Abstract]
Accrued Expenses	Accrued Expenses The components of accrued expenses as of June 30, 2017 and December 31, 2016 were: June 30, December 31, Payroll and related items $ 62,714 $ 67,600 Management incentive compensation 14,447 16,339 Income taxes payable 9,581 8,808 Insurance 9,312 9,416 Warranty 5,860 5,628 Deferred revenue 15,582 12,607 Restructuring 1,535 3,893 Liability for uncertain tax positions 2,285 1,366 Accrued interest 1,485 1,663 Other 23,023 25,532 Total accrued expenses $ 145,824 $ 152,852

Other Noncurrent Liabilities

Other Noncurrent Liabilities	6 Months Ended
	Jun. 30, 2017
Other Liabilities Disclosure [Abstract]
Other Noncurrent Liabilities	Other Noncurrent Liabilities The components of other noncurrent liabilities as of June 30, 2017 and December 31, 2016 were: June 30, December 31, Pension and retiree medical obligations $ 100,762 $ 93,604 Liability for uncertain tax positions 1,872 2,623 Deferred revenue 2,167 2,442 Other 18,076 22,561 Total other noncurrent liabilities $ 122,877 $ 121,230

Borrowings

Borrowings	6 Months Ended
	Jun. 30, 2017
Debt Disclosure [Abstract]
Borrowings	Borrowings Borrowings at June 30, 2017 and December 31, 2016 consisted of the following: June 30, December 31, Revolving Facility $ 43,354 $ 169,579 4.5% Senior Notes, due December 2020 300,000 300,000 4.2% Senior Notes, due December 2021 350,000 350,000 3.2% Senior Notes, due June 2023 100,000 100,000 3.37% Senior Notes, due June 2025 100,000 100,000 Other borrowings 424 1,294 Total borrowings 893,778 1,020,873 Less current portion 350 1,046 Less deferred debt issuance costs 3,867 4,399 Less unaccreted debt discount 1,066 1,193 Total long-term borrowings $ 888,495 $ 1,014,235 On June 13, 2016, the Company completed a private placement of $100 million aggregate principal amount of 3.20% Senior Notes due June 13, 2023 and $100 million aggregate principal amount of 3.37% Senior Notes due June 13, 2025 (collectively, the “Notes”) pursuant to a Note Purchase Agreement, dated June 13, 2016 (the “Purchase Agreement”). Each series of Notes bears interest at the stated amount per annum, which is payable semi-annually in arrears on each June 13 th and December 13 th . The Notes are unsecured obligations of the Company and rank pari passu in right of payment with all of the Company’s other unsecured, unsubordinated debt. The Company may at any time prepay all, or any portion of the Notes; provided that such portion is greater than 5% of the aggregate principal amount of Notes then outstanding. In the event of a prepayment, the Company will pay an amount equal to par plus accrued interest plus a make-whole amount. In addition, the Company may repurchase Notes by making an offer to all holders of the Notes, subject to certain conditions. The Purchase Agreement contains certain covenants that restrict the Company’s ability to, among other things, transfer or sell assets, incur indebtedness, create liens, transact with affiliates and engage in certain mergers or consolidations or other change of control transactions. In addition, the Company must comply with a leverage ratio and interest coverage ratio, as further described below, and the Purchase Agreement also limits the outstanding principal amount of priority debt that may be incurred by the Company to 15% of consolidated assets. The Purchase Agreement provides for customary events of default. In the case of an event of default arising from specified events of bankruptcy or insolvency, all of the outstanding Notes will become due and payable immediately without further action or notice. In the case of payment event of default, any holder of the Notes affected thereby may declare all the Notes held by it due and payable immediately. In the case of any other event of default, a majority of the holders of Notes may declare all of the Notes to be due and payable immediately. 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 replaced 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 June 30, 2017 , the applicable margin was 1.10% , resulting in a weighted average interest rate of 1.12% at June 30, 2017 . 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 June 30, 2017 , $43.4 million was outstanding under the Revolving Facility, with $8.2 million of outstanding letters of credit, resulting in net available borrowing capacity under the Revolving Facility at June 30, 2017 of approximately $648.4 million . There are two key financial covenants that the Company is required to maintain in connection with the Revolving Facility and the Notes, a minimum interest coverage ratio of 3.0 to 1 and a maximum leverage ratio of 3.50 to 1 , which is the ratio of the Company’s consolidated total debt to its consolidated EBITDA. At June 30, 2017 , 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	6 Months Ended
	Jun. 30, 2017
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 contracts 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 contracts 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. 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. See Note 13 for the amount of loss reclassified into income for interest rate contracts for the six months ended June 30, 2017 and 2016 . As of June 30, 2017 , 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 $6.6 million of the pre-tax amount included in accumulated other comprehensive income (loss) in shareholders’ equity at June 30, 2017 will be recognized to net income over the next 12 months as the underlying hedged transactions are realized. During the six months ended June 30, 2017, the Company entered into four foreign currency forward contracts with a combined notional value of €180 million that have not been designated as hedges for accounting purposes. These contracts are used to manage foreign currency exposure related to changes in the value of intercompany loans caused by changes in foreign exchange rates. The change in the fair value of the foreign currency forward contracts and the corresponding change in the fair value of the intercompany loans of the Company are both recorded through earnings each period as incurred within Other (income) expense - net. During the three and six months ended June 30, 2017 , the Company recorded a gain of $5.1 million and $5.5 million , respectively, within Other (income) expense - net in the Condensed Consolidated Statements of Operations related to these forward contracts. 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. The following table sets forth the fair value amounts of derivative instruments held by the Company as of June 30, 2017 and December 31, 2016 : Fair Value Assets (Liabilities) June 30, 2017 December 31, 2016 Balance Sheet Caption (In thousands) Forward exchange contracts $ 1,067 $ — Receivables

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Jun. 30, 2017
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 June 30, 2017 and December 31, 2016 : Basis of Fair Value Measurements Balance at Level 1 Level 2 Level 3 Available for sale securities $ 5,754 $ 5,754 $ — $ — Foreign exchange contracts 1,067 — 1,067 — Basis of Fair Value Measurements Balance at Level 1 Level 2 Level 3 Available for sale securities $ 5,369 $ 5,369 $ — $ — There were no transfers of assets or liabilities between Level 1 and Level 2 during the three and six months ended June 30, 2017 or the year ended December 31, 2016 . 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 June 30, 2017 , the fair value of the outstanding indebtedness under our Revolving Facility, 3.2% Senior Notes, 3.37% Senior Notes, 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 $923.0 million compared to the carrying value of $892.3 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	6 Months Ended
	Jun. 30, 2017
Restructuring and Related Activities [Abstract]
Restructuring	Restructuring During the first quarter of 2017, the Company recorded restructuring costs of $4.8 million as part of the 2016 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 and facility rationalization. The restructuring costs included severance benefits for 97 employees. 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 Condensed Consolidated Balance Sheets. Severance costs primarily consisted of severance benefits through payroll continuation, COBRA subsidies, outplacement services, conditional separation costs and employer tax liabilities, while exit costs primarily consisted of asset disposals or impairments. Pre-tax restructuring expenses by segment for the six months ended June 30, 2017 are as follows: Severance Costs Exit Costs Total (In thousands) Fluid & Metering Technologies $ 1,566 $ — $ 1,566 Health & Science Technologies 2,470 558 3,028 Fire & Safety/Diversified Products 73 — 73 Corporate/Other 130 — 130 Total restructuring costs $ 4,239 $ 558 $ 4,797 Restructuring accruals of $1.5 million and $3.9 million at June 30, 2017 and December 31, 2016 , respectively, are recorded in Accrued expenses in the Consolidated Balance Sheets. Severance benefits are expected to be paid by the end of the year using cash from operations. The changes in the restructuring accrual for the six months ended June 30, 2017 are as follows: Restructuring (In thousands) Balance at January 1, 2017 $ 3,893 Restructuring expenses 4,797 Payments, utilization and other (7,155 ) Balance at June 30, 2017 $ 1,535

Other Comprehensive Income (Los

Other Comprehensive Income (Loss)	6 Months Ended
	Jun. 30, 2017
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 $ 47,314 $ — $ 47,314 $ (27,043 ) $ — $ (27,043 ) Pension and other postretirement adjustments 1,874 (594 ) 1,280 912 (321 ) 591 Reclassification adjustments for derivatives 1,646 (583 ) 1,063 1,719 (626 ) 1,093 Total other comprehensive income (loss) $ 50,834 $ (1,177 ) $ 49,657 $ (24,412 ) $ (947 ) $ (25,359 ) Six Months Ended Six Months Ended Pre-tax Tax Net of tax Pre-tax Tax Net of tax Cumulative translation adjustment $ 68,364 $ — $ 68,364 $ (10,826 ) $ — $ (10,826 ) Pension and other postretirement adjustments 3,550 (1,146 ) 2,404 1,905 (643 ) 1,262 Reclassification adjustments for derivatives 3,323 (1,218 ) 2,105 3,443 (1,253 ) 2,190 Total other comprehensive income (loss) $ 75,237 $ (2,364 ) $ 72,873 $ (5,478 ) $ (1,896 ) $ (7,374 ) The following table summarizes the amounts reclassified from accumulated other comprehensive income to net income during the three and six months ended June 30, 2017 and 2016 : Three Months Ended Six Months Ended 2017 2016 2017 2016 Pension and other postretirement plans Amortization of service cost $ 1,874 $ 912 $ 3,550 $ 1,905 Total before tax 1,874 912 3,550 1,905 Provision for income taxes (594 ) (321 ) (1,146 ) (643 ) Total net of tax $ 1,280 $ 591 $ 2,404 $ 1,262 Derivatives Reclassification adjustments $ 1,646 $ 1,719 $ 3,323 $ 3,443 Total before tax 1,646 1,719 3,323 3,443 Provision for income taxes (583 ) (626 ) (1,218 ) (1,253 ) Total net of tax $ 1,063 $ 1,093 $ 2,105 $ 2,190 The Company recognizes the service cost component in both Selling, general and administrative expenses and Cost of sales, depending on the functional area of the underlying employees included in the plans.

Common and Preferred Stock

Common and Preferred Stock	6 Months Ended
	Jun. 30, 2017
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 six months ended June 30, 2017 , the Company purchased a total of 106 thousand shares at a cost of $9.8 million . During the six months ended June 30, 2016 , the Company purchased a total of 726 thousand shares at a cost of $53.9 million , of which $0.2 million was settled in July 2016 . As of June 30, 2017 , the amount of share repurchase authorization remaining is $570.2 million . At June 30, 2017 and December 31, 2016 , 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 June 30, 2017 or December 31, 2016 .

Share-Based Compensation

Share-Based Compensation	6 Months Ended
	Jun. 30, 2017
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 Six Months Ended 2017 2016 2017 2016 Weighted average fair value of option grants $24.68 $20.60 $24.12 $18.41 Dividend yield 1.43% 1.63% 1.45% 1.70% Volatility 29.32% 29.62% 29.41% 29.71% Risk-free forward interest rate 1.06%-2.90% 0.60% - 2.56% 0.83%-3.04% 0.53% - 2.50% Expected life (in years) 5.82 5.91 5.83 5.91 Total compensation cost for stock options is as follows: Three Months Ended Six Months Ended 2017 2016 2017 2016 Cost of goods sold $ 88 $ 143 $ 274 $ 262 Selling, general and administrative expenses 1,599 1,511 3,883 3,806 Total expense before income taxes 1,687 1,654 4,157 4,068 Income tax benefit (547 ) (526 ) (1,294 ) (1,286 ) Total expense after income taxes $ 1,140 $ 1,128 $ 2,863 $ 2,782 A summary of the Company’s stock option activity as of June 30, 2017 , and changes during the six months ended June 30, 2017 , are presented in the following table: Stock Options Shares Weighted Average Price Weighted-Average Remaining Contractual Term Aggregate Intrinsic Value Outstanding at January 1, 2017 1,987,946 $ 61.83 6.84 $ 56,144,876 Granted 437,500 93.22 Exercised (231,932 ) 55.98 Forfeited (37,642 ) 77.76 Outstanding at June 30, 2017 2,155,872 $ 68.56 7.08 $ 95,835,269 Vested and expected to vest as of June 30, 2017 2,012,365 $ 67.41 6.95 $ 91,759,774 Exercisable at June 30, 2017 1,078,817 $ 54.24 5.43 $ 63,406,719 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 June 30, 2017 , and changes during the six months ended June 30, 2017 , are presented as follows: Restricted Stock Shares Weighted-Average Unvested at January 1, 2017 217,898 $ 76.19 Granted 57,930 93.16 Vested (72,744 ) 71.89 Forfeited (8,495 ) 78.14 Unvested at June 30, 2017 194,589 $ 82.76 Dividends are paid on restricted stock awards, whose 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 Six Months Ended 2017 2016 2017 2016 Cost of goods sold $ 67 $ 133 $ 219 $ 261 Selling, general and administrative expenses 1,306 968 2,559 2,498 Total expense before income taxes 1,373 1,101 2,778 2,759 Income tax benefit (486 ) (324 ) (925 ) (837 ) Total expense after income taxes $ 887 $ 777 $ 1,853 $ 1,922 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 June 30, 2017 , and changes during the six months ended June 30, 2017 , are presented in the following table: Cash-Settled Restricted Stock Shares Weighted-Average Unvested at January 1, 2017 103,790 $ 90.06 Granted 33,670 93.32 Vested (26,745 ) 92.13 Forfeited (12,310 ) 113.01 Unvested at June 30, 2017 98,405 $ 113.01 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 Six Months Ended 2017 2016 2017 2016 Cost of goods sold $ 388 $ 131 $ 636 $ 320 Selling, general and administrative expenses 1,077 461 1,507 961 Total expense before income taxes 1,465 592 2,143 1,281 Income tax benefit (240 ) (86 ) (382 ) (184 ) Total expense after income taxes $ 1,225 $ 506 $ 1,761 $ 1,097 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. Six Months Ended June 30, 2017 2016 Weighted average fair value of performance share units $115.74 $111.42 Dividend yield —% —% Volatility 17.36% 17.99% Risk-free forward interest rate 1.45% 0.89% Expected life (in years) 2.85 2.86 A summary of the Company’s performance share unit activity as of June 30, 2017 , and changes during the six months ended June 30, 2017 , are presented in the following table: Performance Share Units Shares Weighted-Average Unvested at January 1, 2017 137,055 $ 104.18 Granted 65,530 115.74 Vested — — Forfeited and other (4,260 ) 101.79 Unvested at June 30, 2017 198,325 $ 108.24 The Company granted 63,325 performance share units in February 2014, which vested on December 31, 2016. Based on the Company’s relative total shareholder return rank during the three year period ended December 31, 2016, the Company achieved a 141% payout that resulted in 89,288 shares issued in February 2017. Total compensation cost for performance share units is as follows: Three Months Ended Six Months Ended 2017 2016 2017 2016 Cost of goods sold $ — $ — $ — $ — Selling, general and administrative expenses 1,714 1,815 3,320 3,496 Total expense before income taxes 1,714 1,815 3,320 3,496 Income tax benefit (586 ) (633 ) (1,093 ) (1,168 ) Total expense after income taxes $ 1,128 $ 1,182 $ 2,227 $ 2,328 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 June 30, 2017 , there was $15.3 million of total unrecognized compensation cost related to stock options that is expected to be recognized over a weighted-average period of 1.5 years, $6.8 million of total unrecognized compensation cost related to restricted stock that is expected to be recognized over a weighted-average period of 1.1 years, $4.7 million of total unrecognized compensation cost related to cash-settled restricted shares that is expected to be recognized over a weighted-average period of 1.1 years, and $9.4 million of total unrecognized compensation cost related to performance share units that is expected to be recognized over a weighted-average period of 1.1 years.

Retirement Benefits

Retirement Benefits	6 Months Ended
	Jun. 30, 2017
Retirement Benefits [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. As disclosed in Note 1, the Company elected to early adopt ASU 2017-07 during the quarter ended March 31, 2017. As a result, the Company recorded Interest cost, Expected return on plan assets, and Net amortization within Other (income) expense - net. The Company adopted this standard retrospectively and thus $0.8 million and $1.6 million , respectively, were reclassified from Selling, general and administrative expenses to Other (income) expense - net for the three and six months ended June 30, 2016 to conform to current period presentation. Pension Benefits Three Months Ended June 30, 2017 2016 U.S. Non-U.S. U.S. Non-U.S. Service cost $ 254 $ 494 $ 294 $ 304 Interest cost 661 317 747 355 Expected return on plan assets (944 ) (270 ) (1,175 ) (220 ) Net amortization 641 395 827 243 Net periodic benefit cost $ 612 $ 936 $ 693 $ 682 Pension Benefits Six Months Ended June 30, 2017 2016 U.S. Non-U.S. U.S. Non-U.S. Service cost $ 508 $ 976 $ 588 $ 603 Interest cost 1,321 625 1,494 705 Expected return on plan assets (1,888 ) (534 ) (2,350 ) (439 ) Net amortization 1,283 777 1,654 481 Net periodic benefit cost $ 1,224 $ 1,844 $ 1,386 $ 1,350 Other Postretirement Benefits Three Months Ended June 30, Six Months Ended June 30, 2017 2016 2017 2016 Service cost $ 152 $ 181 $ 304 $ 313 Interest cost 204 224 408 398 Net amortization (199 ) (154 ) (397 ) (308 ) Net periodic benefit cost $ 157 $ 251 $ 315 $ 403 The Company previously disclosed in its financial statements for the year ended December 31, 2016 , that it expected to contribute approximately $5.8 million to its defined benefit plans and $0.1 million to its other postretirement benefit plans in 2017 . As of June 30, 2017 , the Company expects to contribute approximately $4.8 million to its defined benefit plans and $0.6 million to its other postretirement benefit plans in 2017 . The Company contributed a total of $2.0 million during the first six months of 2017 to fund these plans.

Legal Proceedings

Legal Proceedings	6 Months Ended
	Jun. 30, 2017
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	6 Months Ended
	Jun. 30, 2017
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 increased to $29.6 million in the second quarter of 2017 from $27.9 million in the same period of 2016 . The effective tax rate decreased to 26.1% for the second quarter of 2017 compared to 26.9% in the same period of 2016 due to foreign tax credits as well as the mix of global pre-tax income among jurisdictions. 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 increased to $58.1 million in the six months ended June 30, 2017 from $52.6 million in the same period of 2016 . The effective tax rate decreased to 26.7% for the six months ended June 30, 2017 compared to 26.8% in the same period of 2016 due to foreign tax credits as well as 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 $2.3 million .

Basis of Presentation and Sig28

Basis of Presentation and Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2017
Accounting Policies [Abstract]
New Accounting Pronouncements	Recently Adopted Accounting Standards In March 2017, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2017-07, Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost, which amends the requirements related to the income statement presentation of the components of net periodic benefit cost for a company’s sponsored defined benefit pension and other postretirement plans. Under this ASU, companies are required to disaggregate the current service cost component from the other components of net benefit cost and present it with other current compensation costs for related employees in the income statement and present the other components elsewhere in the income statement and outside of income from operations if such a subtotal is presented. This ASU also requires companies to disclose the income statement lines that contain the other components if they are not presented on appropriately described separate lines. In addition, only the service cost component of periodic net benefit cost is eligible for capitalization. The Company elected to early adopt this standard in the quarter ended March 31, 2017 as presenting the service cost within income from operations is more indicative of our current pension cost. The Company adopted this standard retrospectively and thus $0.8 million and $1.6 million were reclassified from Selling, general and administrative expenses to Other (income) expense - net for the three and six months ended June 30, 2016, respectively, to conform to current period presentation. The Company elected to apply the practical expedient that permits the use of previously disclosed service cost and other costs from the prior year’s pension and other postretirement benefit plan footnote in the comparative periods as appropriate estimates when retrospectively changing the presentation of these costs in the income statement. The Company included the required disclosures and the changes resulting from the adoption of this standard in Note 16. In January 2017, the FASB issued ASU 2017-04, Simplifying the Test for Goodwill Impairment , which eliminates Step 2 from the goodwill impairment test. Under this ASU, if the carrying amount of a reporting unit exceeds its fair value, an impairment loss will be recognized in an amount equal to the excess, limited to the total amount of goodwill allocated to the reporting unit. This ASU also eliminated the requirements for any reporting unit with a zero or negative carrying amount to perform a qualitative assessment and, if it fails that qualitative test, to perform Step 2 of the goodwill impairment test. In addition, companies will be required to disclose the amount of goodwill allocated to each reporting unit with a zero or negative carrying amount of net assets. The Company early adopted this standard on January 1, 2017. The adoption of this standard did not have a material impact on our consolidated financial statements. In July 2015, the FASB issued ASU 2015-11, Simplifying the Measurement of Inventory . Under this guidance, entities utilizing the FIFO or average cost method should measure inventory at the lower of cost or net realizable value, where net realizable value is defined as the estimated selling price in the ordinary course of business, less reasonably predictable costs of completion, disposal and transportation. The Company adopted this guidance on January 1, 2017. The adoption of this standard did not have a material impact on our consolidated financial statements. Recently Issued Accounting Standards In January 2017, the FASB issued ASU 2017-01, Clarifying the Definition of a Business , which clarifies the definition of a business and assists entities with evaluating whether transactions should be accounted for as acquisitions or disposals of assets or businesses. Under this guidance, when substantially all of the fair value of gross assets acquired is concentrated in a single asset or group of similar assets, the assets acquired would not represent a business. In addition, in order to be considered a business, an acquisition would have to include at a minimum an input and a substantive process that together significantly contribute to the ability to create an output. The amended guidance also narrows the definition of outputs by more closely aligning it with how outputs are described in FASB guidance for revenue recognition. This guidance is effective for interim and annual periods for the Company on January 1, 2018, with early adoption permitted. The Company does not believe the guidance will have a material impact on its consolidated financial statements. In February 2016, the FASB issued ASU 2016-02, Leases , which sets out the principles for the recognition, measurement, presentation and disclosure of leases for both parties to a contract (i.e. lessees and lessors). The standard 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. The new standard requires lessors to account for leases using an approach that is substantially equivalent to existing guidance for sales-type leases, direct financing leases and operating leases. This standard is effective for fiscal years beginning after December 15, 2018 and interim periods within those fiscal years. Companies are permitted to adopt the standard early and a modified retrospective application is required. The Company is currently evaluating the impact of adopting the new guidance on its consolidated financial statements. In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers, which will replace numerous requirements in U.S. GAAP, including industry-specific requirements, and provide companies with a new five-step model for recognizing revenue from contracts with customers. 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 FASB has also issued the following standards which clarify ASU 2014-09 and have the same effective date as the original standard: ASU 2016-08, Revenue from Contracts with Customers: Principal versus Agent Considerations (Reporting Revenue Gross versus Net) ; ASU 2016-10, Revenue from Contracts with Customers: Identifying Performance Obligations and Licensing ; ASU 2016-12 , Revenue from Contracts with Customers: Narrow-Scope Improvements and Practical Expedients ; and ASU 2016-20 , Technical Corrections and Improvements to Topic 606, Revenue from Contracts with Customers. In 2016, we established an implementation team and analyzed the impact of the standard by surveying business units and reviewing contracts to identify potential differences that may result from applying the requirements of the new standard. We have substantially completed our contract reviews. These contract reviews generally supported the recognition of revenue at a point in time, which is consistent with the current revenue recognition model used by most of our business units. As a result, we expect revenue recognition to remain substantially unchanged under the new standard. For our business units that currently recognize revenue under a percentage of completion model, we also expect revenue recognition to remain substantially unchanged as the contract reviews supported the recognition of revenue over time. Although we are still finalizing our assessment of the potential impacts of the new standard, we currently believe that the most significant potential change will relate to contracts for the development, manufacture and sale of customized products. Due to the complexity of certain contracts for these types of products, the actual revenue recognition treatment required under the standard will be dependent on contract-specific terms. The implementation team has reported these findings and the progress of the project to the Audit Committee. The Company is still evaluating the impact of the new guidance on its consolidated financial statements but expects to adopt the standard in 2018 using the modified retrospective method.

Business Segments (Tables)

Business Segments (Tables)	6 Months Ended
	Jun. 30, 2017
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 Six Months Ended 2017 2016 (1) 2017 2016 (1) Net sales Fluid & Metering Technologies External customers $ 221,123 $ 221,635 $ 437,778 $ 433,344 Intersegment sales 59 175 174 309 Total group sales 221,182 221,810 437,952 433,653 Health & Science Technologies External customers 204,297 186,453 403,872 372,704 Intersegment sales 112 115 216 207 Total group sales 204,409 186,568 404,088 372,911 Fire & Safety/Diversified Products External customers 147,946 141,608 285,268 246,220 Intersegment sales 37 3 162 9 Total group sales 147,983 141,611 285,430 246,229 Intersegment elimination (208 ) (293 ) (552 ) (525 ) Total net sales $ 573,366 $ 549,696 $ 1,126,918 $ 1,052,268 Operating income Fluid & Metering Technologies $ 60,029 $ 54,172 $ 117,842 $ 105,875 Health & Science Technologies 46,294 41,108 88,532 81,790 Fire & Safety/Diversified Products 37,197 34,420 69,823 60,074 Corporate office expense and other (2) (18,387 ) (15,877 ) (35,393 ) (30,571 ) Total operating income 125,133 113,823 240,804 217,168 Interest expense 11,304 11,205 22,856 21,694 Other (income) expense - net 372 (1,027 ) 64 (983 ) Income before income taxes $ 113,457 $ 103,645 $ 217,884 $ 196,457 (1) Certain amounts in the prior year income statement have been reclassified to conform to the current presentation due to the early adoption of ASU 2017-07. (2) Corporate office expense for the three and six months ended June 30, 2016 includes benefits of $1.0 million and $4.7 million, respectively, from the reversal of the contingent consideration related to a 2015 acquisition. June 30, December 31, Assets Fluid & Metering Technologies $ 1,092,811 $ 1,065,670 Health & Science Technologies 1,274,359 1,266,036 Fire & Safety/Diversified Products 727,423 705,735 Corporate office 129,572 117,503 Total assets $ 3,224,165 $ 3,154,944

Earnings Per Common Share (Tabl

Earnings Per Common Share (Tables)	6 Months Ended
	Jun. 30, 2017
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 Six Months Ended 2017 2016 2017 2016 Basic weighted average common shares outstanding 76,220 75,690 76,167 75,719 Dilutive effect of stock options, restricted stock, and performance share units 1,100 984 940 968 Diluted weighted average common shares outstanding 77,320 76,674 77,107 76,687

Inventories (Tables)

Inventories (Tables)	6 Months Ended
	Jun. 30, 2017
Inventory Disclosure [Abstract]
Components Of Inventories	The components of inventories as of June 30, 2017 and December 31, 2016 were: June 30, December 31, Raw materials and component parts $ 166,293 $ 154,278 Work in process 37,910 34,832 Finished goods 60,342 63,749 Total $ 264,545 $ 252,859

Goodwill and Intangible Assets

Goodwill and Intangible Assets (Tables)	6 Months Ended
	Jun. 30, 2017
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Changes in Carrying Amount of Goodwill	The changes in the carrying amount of goodwill for the six months ended June 30, 2017 , by reportable business segment, were as follows: Fluid & Metering Technologies Health & Science Technologies Fire & Safety/ Diversified Products Total Balance at December 31, 2016 $ 573,437 $ 699,299 $ 359,856 $ 1,632,592 Foreign currency translation 10,339 16,392 11,672 38,403 Acquisition adjustments — (4,248 ) — (4,248 ) Balance at June 30, 2017 $ 583,776 $ 711,443 $ 371,528 $ 1,666,747
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 assets at June 30, 2017 and December 31, 2016 : At June 30, 2017 At December 31, 2016 Gross Carrying Amount Accumulated Amortization Net Weighted Average Life Gross Carrying Amount Accumulated Amortization Net Amortized intangible assets: Patents $ 9,637 $ (6,783 ) $ 2,854 11 $ 9,856 $ (6,635 ) $ 3,221 Trade names 116,483 (47,197 ) 69,286 16 113,428 (42,653 ) 70,775 Customer relationships 327,328 (125,540 ) 201,788 13 369,087 (161,065 ) 208,022 Unpatented technology 87,586 (27,293 ) 60,293 13 106,747 (44,516 ) 62,231 Other 834 (523 ) 311 10 6,527 (6,172 ) 355 Total amortized intangible assets 541,868 (207,336 ) 334,532 605,645 (261,041 ) 344,604 Indefinite lived intangible assets: Banjo trade name 62,100 — 62,100 62,100 — 62,100 Akron Brass trade name 28,800 — 28,800 28,800 — 28,800 Total intangible assets $ 632,768 $ (207,336 ) $ 425,432 $ 696,545 $ (261,041 ) $ 435,504

Accrued Expenses (Tables)

Accrued Expenses (Tables)	6 Months Ended
	Jun. 30, 2017
Payables and Accruals [Abstract]
Components of Accrued Expenses	The components of accrued expenses as of June 30, 2017 and December 31, 2016 were: June 30, December 31, Payroll and related items $ 62,714 $ 67,600 Management incentive compensation 14,447 16,339 Income taxes payable 9,581 8,808 Insurance 9,312 9,416 Warranty 5,860 5,628 Deferred revenue 15,582 12,607 Restructuring 1,535 3,893 Liability for uncertain tax positions 2,285 1,366 Accrued interest 1,485 1,663 Other 23,023 25,532 Total accrued expenses $ 145,824 $ 152,852

Other Noncurrent Liabilities (T

Other Noncurrent Liabilities (Tables)	6 Months Ended
	Jun. 30, 2017
Other Liabilities Disclosure [Abstract]
Schedule of Other Noncurrent Liabilities	The components of other noncurrent liabilities as of June 30, 2017 and December 31, 2016 were: June 30, December 31, Pension and retiree medical obligations $ 100,762 $ 93,604 Liability for uncertain tax positions 1,872 2,623 Deferred revenue 2,167 2,442 Other 18,076 22,561 Total other noncurrent liabilities $ 122,877 $ 121,230

Borrowings (Tables)

Borrowings (Tables)	6 Months Ended
	Jun. 30, 2017
Debt Disclosure [Abstract]
Schedule of Borrowings	Borrowings at June 30, 2017 and December 31, 2016 consisted of the following: June 30, December 31, Revolving Facility $ 43,354 $ 169,579 4.5% Senior Notes, due December 2020 300,000 300,000 4.2% Senior Notes, due December 2021 350,000 350,000 3.2% Senior Notes, due June 2023 100,000 100,000 3.37% Senior Notes, due June 2025 100,000 100,000 Other borrowings 424 1,294 Total borrowings 893,778 1,020,873 Less current portion 350 1,046 Less deferred debt issuance costs 3,867 4,399 Less unaccreted debt discount 1,066 1,193 Total long-term borrowings $ 888,495 $ 1,014,235

Derivative Instruments (Tables)

Derivative Instruments (Tables)	6 Months Ended
	Jun. 30, 2017
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Derivative Instruments	The following table sets forth the fair value amounts of derivative instruments held by the Company as of June 30, 2017 and December 31, 2016 : Fair Value Assets (Liabilities) June 30, 2017 December 31, 2016 Balance Sheet Caption (In thousands) Forward exchange contracts $ 1,067 $ — Receivables

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
	Jun. 30, 2017
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 June 30, 2017 and December 31, 2016 : Basis of Fair Value Measurements Balance at Level 1 Level 2 Level 3 Available for sale securities $ 5,754 $ 5,754 $ — $ — Foreign exchange contracts 1,067 — 1,067 — Basis of Fair Value Measurements Balance at Level 1 Level 2 Level 3 Available for sale securities $ 5,369 $ 5,369 $ — $ —

Restructuring (Tables)

Restructuring (Tables)	6 Months Ended
	Jun. 30, 2017
Restructuring and Related Activities [Abstract]
Schedule of Restructuring Costs	Pre-tax restructuring expenses by segment for the six months ended June 30, 2017 are as follows: Severance Costs Exit Costs Total (In thousands) Fluid & Metering Technologies $ 1,566 $ — $ 1,566 Health & Science Technologies 2,470 558 3,028 Fire & Safety/Diversified Products 73 — 73 Corporate/Other 130 — 130 Total restructuring costs $ 4,239 $ 558 $ 4,797
Schedule of Restructuring Reserve	The changes in the restructuring accrual for the six months ended June 30, 2017 are as follows: Restructuring (In thousands) Balance at January 1, 2017 $ 3,893 Restructuring expenses 4,797 Payments, utilization and other (7,155 ) Balance at June 30, 2017 $ 1,535

Other Comprehensive Income (L39

Other Comprehensive Income (Loss) (Tables)	6 Months Ended
	Jun. 30, 2017
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 $ 47,314 $ — $ 47,314 $ (27,043 ) $ — $ (27,043 ) Pension and other postretirement adjustments 1,874 (594 ) 1,280 912 (321 ) 591 Reclassification adjustments for derivatives 1,646 (583 ) 1,063 1,719 (626 ) 1,093 Total other comprehensive income (loss) $ 50,834 $ (1,177 ) $ 49,657 $ (24,412 ) $ (947 ) $ (25,359 ) Six Months Ended Six Months Ended Pre-tax Tax Net of tax Pre-tax Tax Net of tax Cumulative translation adjustment $ 68,364 $ — $ 68,364 $ (10,826 ) $ — $ (10,826 ) Pension and other postretirement adjustments 3,550 (1,146 ) 2,404 1,905 (643 ) 1,262 Reclassification adjustments for derivatives 3,323 (1,218 ) 2,105 3,443 (1,253 ) 2,190 Total other comprehensive income (loss) $ 75,237 $ (2,364 ) $ 72,873 $ (5,478 ) $ (1,896 ) $ (7,374 )
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 and six months ended June 30, 2017 and 2016 : Three Months Ended Six Months Ended 2017 2016 2017 2016 Pension and other postretirement plans Amortization of service cost $ 1,874 $ 912 $ 3,550 $ 1,905 Total before tax 1,874 912 3,550 1,905 Provision for income taxes (594 ) (321 ) (1,146 ) (643 ) Total net of tax $ 1,280 $ 591 $ 2,404 $ 1,262 Derivatives Reclassification adjustments $ 1,646 $ 1,719 $ 3,323 $ 3,443 Total before tax 1,646 1,719 3,323 3,443 Provision for income taxes (583 ) (626 ) (1,218 ) (1,253 ) Total net of tax $ 1,063 $ 1,093 $ 2,105 $ 2,190

Share-Based Compensation (Table

Share-Based Compensation (Tables)	6 Months Ended
	Jun. 30, 2017
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
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 Six Months Ended 2017 2016 2017 2016 Weighted average fair value of option grants $24.68 $20.60 $24.12 $18.41 Dividend yield 1.43% 1.63% 1.45% 1.70% Volatility 29.32% 29.62% 29.41% 29.71% Risk-free forward interest rate 1.06%-2.90% 0.60% - 2.56% 0.83%-3.04% 0.53% - 2.50% Expected life (in years) 5.82 5.91 5.83 5.91
Schedule of Compensation Cost for Stock Options	Total compensation cost for stock options is as follows: Three Months Ended Six Months Ended 2017 2016 2017 2016 Cost of goods sold $ 88 $ 143 $ 274 $ 262 Selling, general and administrative expenses 1,599 1,511 3,883 3,806 Total expense before income taxes 1,687 1,654 4,157 4,068 Income tax benefit (547 ) (526 ) (1,294 ) (1,286 ) Total expense after income taxes $ 1,140 $ 1,128 $ 2,863 $ 2,782
Schedule of Stock Option Activity	A summary of the Company’s stock option activity as of June 30, 2017 , and changes during the six months ended June 30, 2017 , are presented in the following table: Stock Options Shares Weighted Average Price Weighted-Average Remaining Contractual Term Aggregate Intrinsic Value Outstanding at January 1, 2017 1,987,946 $ 61.83 6.84 $ 56,144,876 Granted 437,500 93.22 Exercised (231,932 ) 55.98 Forfeited (37,642 ) 77.76 Outstanding at June 30, 2017 2,155,872 $ 68.56 7.08 $ 95,835,269 Vested and expected to vest as of June 30, 2017 2,012,365 $ 67.41 6.95 $ 91,759,774 Exercisable at June 30, 2017 1,078,817 $ 54.24 5.43 $ 63,406,719
Schedule of Restricted Stock Activity	A summary of the Company’s restricted stock activity as of June 30, 2017 , and changes during the six months ended June 30, 2017 , are presented as follows: Restricted Stock Shares Weighted-Average Unvested at January 1, 2017 217,898 $ 76.19 Granted 57,930 93.16 Vested (72,744 ) 71.89 Forfeited (8,495 ) 78.14 Unvested at June 30, 2017 194,589 $ 82.76
Schedule of Compensation Cost for Restricted Stock	Total compensation cost for restricted shares is as follows: Three Months Ended Six Months Ended 2017 2016 2017 2016 Cost of goods sold $ 67 $ 133 $ 219 $ 261 Selling, general and administrative expenses 1,306 968 2,559 2,498 Total expense before income taxes 1,373 1,101 2,778 2,759 Income tax benefit (486 ) (324 ) (925 ) (837 ) Total expense after income taxes $ 887 $ 777 $ 1,853 $ 1,922
Schedule of Unvested Cash-settled Restricted Stock Activity	A summary of the Company’s unvested cash-settled restricted stock activity as of June 30, 2017 , and changes during the six months ended June 30, 2017 , are presented in the following table: Cash-Settled Restricted Stock Shares Weighted-Average Unvested at January 1, 2017 103,790 $ 90.06 Granted 33,670 93.32 Vested (26,745 ) 92.13 Forfeited (12,310 ) 113.01 Unvested at June 30, 2017 98,405 $ 113.01
Schedule of Compensation Cost for Unvested Cash-settled Restricted Stock	Total compensation cost for cash-settled restricted stock is as follows: Three Months Ended Six Months Ended 2017 2016 2017 2016 Cost of goods sold $ 388 $ 131 $ 636 $ 320 Selling, general and administrative expenses 1,077 461 1,507 961 Total expense before income taxes 1,465 592 2,143 1,281 Income tax benefit (240 ) (86 ) (382 ) (184 ) Total expense after income taxes $ 1,225 $ 506 $ 1,761 $ 1,097
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. Six Months Ended June 30, 2017 2016 Weighted average fair value of performance share units $115.74 $111.42 Dividend yield —% —% Volatility 17.36% 17.99% Risk-free forward interest rate 1.45% 0.89% Expected life (in years) 2.85 2.86
Schedule of Performance Shares Units Activity	A summary of the Company’s performance share unit activity as of June 30, 2017 , and changes during the six months ended June 30, 2017 , are presented in the following table: Performance Share Units Shares Weighted-Average Unvested at January 1, 2017 137,055 $ 104.18 Granted 65,530 115.74 Vested — — Forfeited and other (4,260 ) 101.79 Unvested at June 30, 2017 198,325 $ 108.24
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 Six Months Ended 2017 2016 2017 2016 Cost of goods sold $ — $ — $ — $ — Selling, general and administrative expenses 1,714 1,815 3,320 3,496 Total expense before income taxes 1,714 1,815 3,320 3,496 Income tax benefit (586 ) (633 ) (1,093 ) (1,168 ) Total expense after income taxes $ 1,128 $ 1,182 $ 2,227 $ 2,328

Retirement Benefits (Tables)

Retirement Benefits (Tables)	6 Months Ended
	Jun. 30, 2017
Pension Benefits
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. As disclosed in Note 1, the Company elected to early adopt ASU 2017-07 during the quarter ended March 31, 2017. As a result, the Company recorded Interest cost, Expected return on plan assets, and Net amortization within Other (income) expense - net. The Company adopted this standard retrospectively and thus $0.8 million and $1.6 million , respectively, were reclassified from Selling, general and administrative expenses to Other (income) expense - net for the three and six months ended June 30, 2016 to conform to current period presentation. Pension Benefits Three Months Ended June 30, 2017 2016 U.S. Non-U.S. U.S. Non-U.S. Service cost $ 254 $ 494 $ 294 $ 304 Interest cost 661 317 747 355 Expected return on plan assets (944 ) (270 ) (1,175 ) (220 ) Net amortization 641 395 827 243 Net periodic benefit cost $ 612 $ 936 $ 693 $ 682 Pension Benefits Six Months Ended June 30, 2017 2016 U.S. Non-U.S. U.S. Non-U.S. Service cost $ 508 $ 976 $ 588 $ 603 Interest cost 1,321 625 1,494 705 Expected return on plan assets (1,888 ) (534 ) (2,350 ) (439 ) Net amortization 1,283 777 1,654 481 Net periodic benefit cost $ 1,224 $ 1,844 $ 1,386 $ 1,350
Other Postretirement Benefits
Components of Net Periodic Benefit Cost for Defined Benefit Plans and Other Postretirement Plans	Other Postretirement Benefits Three Months Ended June 30, Six Months Ended June 30, 2017 2016 2017 2016 Service cost $ 152 $ 181 $ 304 $ 313 Interest cost 204 224 408 398 Net amortization (199 ) (154 ) (397 ) (308 ) Net periodic benefit cost $ 157 $ 251 $ 315 $ 403

Basis of Presentation and Sig42

Basis of Presentation and Significant Accounting Policies (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Selling, general and administrative expenses	$ 131,792	$ 130,235	$ 262,265	$ 250,225
Other (Income) Expense Net | Accounting Standards Update 2017-17
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Selling, general and administrative expenses		$ 800		$ 1,600

Acquisitions and Divestitures -

Acquisitions and Divestitures - Acquisitions (Details) $ in Thousands, € in Millions	Aug. 31, 2016EUR (€)	Aug. 31, 2016USD ($)	Jul. 01, 2016EUR (€)	Jul. 01, 2016USD ($)	Mar. 16, 2016USD ($)	Jun. 30, 2017USD ($)	Jun. 30, 2016USD ($)	Jun. 30, 2017USD ($)	Jun. 30, 2016USD ($)	Dec. 31, 2016USD ($)
Business Acquisition [Line Items]
Goodwill						$ 1,666,747		$ 1,666,747		$ 1,632,592
Akron Brass
Business Acquisition [Line Items]
Aggregate purchase price, cash paid					$ 221,400
Goodwill					124,600
Intangible assets					$ 90,400
AWG Fittings GmbH (AWG)
Business Acquisition [Line Items]
Aggregate purchase price, cash paid			€ 42.8	$ 47,500
Goodwill				22,000
Intangible assets				$ 10,300
SFC-Koenig AG (SFC)
Business Acquisition [Line Items]
Aggregate purchase price, cash paid	€ 215.9	$ 241,100
Goodwill		139,500
Intangible assets		$ 117,000
Selling, general and administrative expenses
Business Acquisition [Line Items]
Acquisition-related transaction costs						$ 100	$ 1,400	$ 200	$ 2,400
Cost of goods sold
Business Acquisition [Line Items]
Fair value of inventory charges associated with acquisitions							$ 3,600		$ 5,800

Acquisitions and Divestitures44

Acquisitions and Divestitures - Divestitures (Details) - USD ($) $ in Thousands

Dec. 30, 2016

Oct. 10, 2016

Sep. 09, 2016

Jul. 29, 2016

Jun. 30, 2017

Jun. 30, 2016

Jun. 30, 2017

Jun. 30, 2016

Jul. 29, 2016

Sep. 09, 2016

Oct. 10, 2016

Dec. 31, 2016

Dec. 30, 2016

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

Revenue

$ 573,366

$ 549,696

$ 1,126,918

$ 1,052,268

Hydra-Stop Product Line | Disposed of by Sale

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

Proceeds from sale of business

$ 15,000

Gain (loss) on sale of businesses

5,800

Additional proceeds from sale of business

$ 2,000

Earnings for achievement

$ 1,000

Possible earnings for achievement

$ 1,000

Revenue

$ 7,500

Melles Griot KK Subsidiary | Disposed of by Sale

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

Proceeds from sale of business

$ 17,500

Gain (loss) on sale of businesses

$ (7,900)

Revenue

$ 13,100

IETG and 40Seven Subsidiaries | Disposed of by Sale

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

Proceeds from sale of business

$ 2,700

Gain (loss) on sale of businesses

$ (4,200)

Revenue

$ 8,300

Korea Electro-Optics Co., Ltd. (CVI Korea) | Disposed of by Sale

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

Proceeds from sale of business

$ 3,800

Gain (loss) on sale of businesses

$ (16,000)

Revenue

$ 11,700

Business Segments - Narrative (

Business Segments - Narrative (Details)	6 Months Ended
	Jun. 30, 2017segment
Segment Reporting [Abstract]
Number of reportable business segments	3

Business Segments - Schedule of

Business Segments - Schedule of Information on Company's Business Segments (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016	Dec. 31, 2016
Segment Reporting Information [Line Items]
Net sales	$ 573,366	$ 549,696	$ 1,126,918	$ 1,052,268
Operating income	125,133	113,823	240,804	217,168
Interest expense	11,304	11,205	22,856	21,694
Other (income) expense - net	372	(1,027)	64	(983)
Income before income taxes	113,457	103,645	217,884	196,457
Total assets	3,224,165		3,224,165		$ 3,154,944
Benefit from reversal of contingent consideration		1,000		4,700
Intersegment elimination
Segment Reporting Information [Line Items]
Net sales	(208)	(293)	(552)	(525)
Corporate office expense and other
Segment Reporting Information [Line Items]
Operating income	(18,387)	(15,877)	(35,393)	(30,571)
Total assets	129,572		129,572		117,503
Fluid & Metering Technologies
Segment Reporting Information [Line Items]
Net sales	221,123	221,635	437,778	433,344
Operating income	60,029	54,172	117,842	105,875
Fluid & Metering Technologies | Intersegment elimination
Segment Reporting Information [Line Items]
Net sales	59	175	174	309
Fluid & Metering Technologies | Operating Segments
Segment Reporting Information [Line Items]
Net sales	221,182	221,810	437,952	433,653
Total assets	1,092,811		1,092,811		1,065,670
Health & Science Technologies
Segment Reporting Information [Line Items]
Net sales	204,297	186,453	403,872	372,704
Operating income	46,294	41,108	88,532	81,790
Health & Science Technologies | Intersegment elimination
Segment Reporting Information [Line Items]
Net sales	112	115	216	207
Health & Science Technologies | Operating Segments
Segment Reporting Information [Line Items]
Net sales	204,409	186,568	404,088	372,911
Total assets	1,274,359		1,274,359		1,266,036
Fire & Safety/Diversified Products
Segment Reporting Information [Line Items]
Net sales	147,946	141,608	285,268	246,220
Operating income	37,197	34,420	69,823	60,074
Fire & Safety/Diversified Products | Intersegment elimination
Segment Reporting Information [Line Items]
Net sales	37	3	162	9
Fire & Safety/Diversified Products | Operating Segments
Segment Reporting Information [Line Items]
Net sales	147,983	$ 141,611	285,430	$ 246,229
Total assets	$ 727,423		$ 727,423		$ 705,735

Earnings Per Common Share - Nar

Earnings Per Common Share - Narrative (Details) - shares shares in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Earnings Per Share [Abstract]
Option to purchase common stock shares not included in the computation of diluted EPS (in shares)	0.4	1	0.5	1.3

Earnings Per Common Share - Sch

Earnings Per Common Share - Schedule of Basic Weighted Average Shares Reconciles to Diluted Weighted Average Shares Outstanding (Details) - shares shares in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Earnings Per Share [Abstract]
Basic weighted average common shares outstanding (in shares)	76,220	75,690	76,167	75,719
Dilutive effect of stock options, restricted stock, and performance share units	1,100	984	940	968
Diluted weighted average common shares outstanding (in shares)	77,320	76,674	77,107	76,687

Inventories (Details)

Inventories (Details) - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016
Inventory Disclosure [Abstract]
Raw materials and component parts	$ 166,293	$ 154,278
Work in process	37,910	34,832
Finished goods	60,342	63,749
Total	$ 264,545	$ 252,859

Goodwill and Intangible Asset50

Goodwill and Intangible Assets - Schedule of Changes in Carrying Amount of Goodwill (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2017USD ($)
Goodwill [Roll Forward]
Balance at December 31, 2016	$ 1,632,592
Foreign currency translation	38,403
Acquisition adjustments	(4,248)
Balance at June 30, 2017	1,666,747
Fluid & Metering Technologies
Goodwill [Roll Forward]
Balance at December 31, 2016	573,437
Foreign currency translation	10,339
Acquisition adjustments	0
Balance at June 30, 2017	583,776
Health & Science Technologies
Goodwill [Roll Forward]
Balance at December 31, 2016	699,299
Foreign currency translation	16,392
Acquisition adjustments	(4,248)
Balance at June 30, 2017	711,443
Fire & Safety/Diversified Products
Goodwill [Roll Forward]
Balance at December 31, 2016	359,856
Foreign currency translation	11,672
Acquisition adjustments	0
Balance at June 30, 2017	$ 371,528

Goodwill and Intangible Asset51

Goodwill and Intangible Assets - Schedule of Gross Carrying Value and Accumulated Amortization for Each Major Class of Intangible Asset (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2017	Dec. 31, 2016
Goodwill And Intangible Assets [Line Items]
Amortized intangible assets - Gross Carrying Amount	$ 541,868	$ 605,645
Intangible assets - Gross Carrying Amount	632,768	696,545
Amortized intangible assets - Accumulated Amortization	(207,336)	(261,041)
Amortized intangible assets - Net	334,532	344,604
Intangible assets - Net	425,432	435,504
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	28,800	28,800
Indefinite lived intangible assets - Net	28,800	28,800
Patents
Goodwill And Intangible Assets [Line Items]
Amortized intangible assets - Gross Carrying Amount	9,637	9,856
Amortized intangible assets - Accumulated Amortization	(6,783)	(6,635)
Amortized intangible assets - Net	$ 2,854	3,221
Amortized intangible assets - Weighted Average Life	11 years
Trade names
Goodwill And Intangible Assets [Line Items]
Amortized intangible assets - Gross Carrying Amount	$ 116,483	113,428
Amortized intangible assets - Accumulated Amortization	(47,197)	(42,653)
Amortized intangible assets - Net	$ 69,286	70,775
Amortized intangible assets - Weighted Average Life	16 years
Customer relationships
Goodwill And Intangible Assets [Line Items]
Amortized intangible assets - Gross Carrying Amount	$ 327,328	369,087
Amortized intangible assets - Accumulated Amortization	(125,540)	(161,065)
Amortized intangible assets - Net	$ 201,788	208,022
Amortized intangible assets - Weighted Average Life	13 years
Unpatented technology
Goodwill And Intangible Assets [Line Items]
Amortized intangible assets - Gross Carrying Amount	$ 87,586	106,747
Amortized intangible assets - Accumulated Amortization	(27,293)	(44,516)
Amortized intangible assets - Net	$ 60,293	62,231
Amortized intangible assets - Weighted Average Life	13 years
Other
Goodwill And Intangible Assets [Line Items]
Amortized intangible assets - Gross Carrying Amount	$ 834	6,527
Amortized intangible assets - Accumulated Amortization	(523)	(6,172)
Amortized intangible assets - Net	$ 311	$ 355
Amortized intangible assets - Weighted Average Life	10 years

Goodwill and Intangible Asset52

Goodwill and Intangible Assets - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016	Oct. 31, 2015
Goodwill and Intangible Assets Disclosure [Line Items]
Amortization of intangible assets	$ 12,100	$ 12,300	$ 23,893	$ 23,146
Intangible assets, amortization expense
Remaining of 2017	21,500		21,500
2,018	37,700		37,700
2,019	34,200		34,200
2,020	33,600		33,600
2,021	$ 32,200		$ 32,200
Banjo trade name | Minimum
Goodwill and Intangible Assets Disclosure [Line Items]
Reporting unit, percentage of fair value in excess of carrying amount					25.00%

Accrued Expenses (Details)

Accrued Expenses (Details) - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016
Payables and Accruals [Abstract]
Payroll and related items	$ 62,714	$ 67,600
Management incentive compensation	14,447	16,339
Income taxes payable	9,581	8,808
Insurance	9,312	9,416
Warranty	5,860	5,628
Deferred revenue	15,582	12,607
Restructuring	1,535	3,893
Liability for uncertain tax positions	2,285	1,366
Accrued interest	1,485	1,663
Other	23,023	25,532
Total accrued expenses	$ 145,824	$ 152,852

Other Noncurrent Liabilities (D

Other Noncurrent Liabilities (Details) - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016
Other Liabilities Disclosure [Abstract]
Pension and retiree medical obligations	$ 100,762	$ 93,604
Liability for uncertain tax positions	1,872	2,623
Deferred revenue	2,167	2,442
Other	18,076	22,561
Total other noncurrent liabilities	$ 122,877	$ 121,230

Borrowings - Schedule of Borrow

Borrowings - Schedule of Borrowings (Details) - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016
Debt Instrument [Line Items]
Total borrowings	$ 893,778	$ 1,020,873
Less current portion	350	1,046
Less deferred debt issuance costs	3,867	4,399
Less unaccreted debt discount	1,066	1,193
Total long-term borrowings	888,495	1,014,235
Revolving Facility
Debt Instrument [Line Items]
Revolving Facility	43,354	169,579
Senior Notes | 4.5% Senior Notes, due December 2020
Debt Instrument [Line Items]
Total borrowings	300,000	300,000
Senior Notes | 4.2% Senior Notes, due December 2021
Debt Instrument [Line Items]
Total borrowings	350,000	350,000
Senior Notes | 3.2% Senior Notes, due June 2023
Debt Instrument [Line Items]
Total borrowings	100,000	100,000
Senior Notes | 3.37% Senior Notes, due June 2025
Debt Instrument [Line Items]
Total borrowings	100,000	100,000
Other borrowings
Debt Instrument [Line Items]
Other borrowings	$ 424	$ 1,294

Borrowings - Schedule of Borr56

Borrowings - Schedule of Borrowings 1 (Details)	Jun. 30, 2017
4.5% Senior Notes, due December 2020
Debt Instrument [Line Items]
Stated interest rate	4.50%
4.2% Senior Notes, due December 2021
Debt Instrument [Line Items]
Stated interest rate	4.20%
3.2% Senior Notes, due June 2023
Debt Instrument [Line Items]
Stated interest rate	3.20%
3.37% Senior Notes, due June 2025
Debt Instrument [Line Items]
Stated interest rate	3.37%

Borrowings - Narrative (Details

Borrowings - Narrative (Details)	Jun. 23, 2015USD ($)	Jun. 30, 2017USD ($)covenant	Dec. 31, 2016USD ($)	Jun. 13, 2016USD ($)
Minimum
Line of Credit Facility [Line Items]
Required percent for prepayment amount of aggregate principal amount				5.00%
Revolving Facility
Line of Credit Facility [Line Items]
Current borrowings under revolving facility		$ 43,354,000	$ 169,579,000
Outstanding letters of credit		8,200,000
Amount available to borrow		$ 648,400,000
Number of financial covenants | covenant		2
Senior Notes | Minimum
Line of Credit Facility [Line Items]
Interest coverage ratio		3
Senior Notes | Maximum
Line of Credit Facility [Line Items]
Limitation of outstanding principal of higher preference debt as percent of consolidated assets		15.00%
Leverage ratio		3.50
3.2% Senior Notes, due June 2023
Line of Credit Facility [Line Items]
Stated interest rate		3.20%
3.2% Senior Notes, due June 2023 | Senior Notes
Line of Credit Facility [Line Items]
Face amount of debt				$ 100,000,000
Stated interest rate				3.20%
3.37% Senior Notes, due June 2025
Line of Credit Facility [Line Items]
Stated interest rate		3.37%
3.37% Senior Notes, due June 2025 | Senior Notes
Line of Credit Facility [Line Items]
Face amount of debt				$ 100,000,000
Stated interest rate				3.37%
4.5% Senior Notes, due December 2020
Line of Credit Facility [Line Items]
Stated interest rate		4.50%
4.2% Senior Notes, due December 2021
Line of Credit Facility [Line Items]
Stated interest rate		4.20%
Credit Agreement
Line of Credit Facility [Line Items]
Debt instrument, term	5 years
Borrowing capacity	$ 700,000,000
Expiration date	Jun. 23, 2020
Extension period	1 year
Aggregate lending commitments	$ 350,000,000
Applicable margin over LIBOR		1.10%
Effective percentage		1.12%
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 - Narrat

Derivative Instruments - Narrative (Details) $ in Thousands, € in Millions	3 Months Ended	6 Months Ended		24 Months Ended
	Jun. 30, 2017USD ($)	Jun. 30, 2017USD ($)	Jun. 30, 2016USD ($)	Dec. 31, 2011USD ($)instrument	Jun. 30, 2017EUR (€)instrument
Derivative [Line Items]
Amortization of interest expense		$ 659	$ 758
Amount to be recognized from hedged transactions within 12 months, approximate		6,600
Other (Income) Expense Net
Derivative [Line Items]
Gain on derivatives	$ 5,100	$ 5,500
4.2% Senior Notes, due December 2021
Derivative [Line Items]
Interest rate on senior notes				4.20%
4.5% Senior Notes, due December 2020
Derivative [Line Items]
Interest rate on senior notes				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
Forward exchange contracts
Derivative [Line Items]
Number of instruments held | instrument					4
Notional amount | €					€ 180

Derivative Instruments - Fair V

Derivative Instruments - Fair Value Amounts (Details) - USD ($) $ in Millions	Jun. 30, 2017	Dec. 31, 2016
Receivables | Forward exchange contracts
Derivative [Line Items]
Fair Value Assets (Liabilities)	$ 1,067	$ 0

Fair Value Measurements - Sched

Fair Value Measurements - Schedule of Company Financial Assets and Liabilities at Fair Value on Recurring Basis (Details) - Fair Value, Measurements, Recurring - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available for sale securities	$ 5,754	$ 5,369
Foreign exchange contracts	1,067
Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available for sale securities	5,754	5,369
Foreign exchange contracts	0
Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available for sale securities	0	0
Foreign exchange contracts	1,067
Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available for sale securities	0	$ 0
Foreign exchange contracts	$ 0

Fair Value Measurements - Narra

Fair Value Measurements - Narrative (Details) $ in Millions	Jun. 30, 2017USD ($)
Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt, fair value	$ 923
Carrying Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt, fair value	$ 892.3
3.2% Senior Notes, due June 2023
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Stated interest rate	3.20%
3.37% Senior Notes, due June 2025
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Stated interest rate	3.37%
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%

Restructuring - Narrative (Deta

Restructuring - Narrative (Details) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017USD ($)employee	Jun. 30, 2016USD ($)	Jun. 30, 2017USD ($)employee	Jun. 30, 2016USD ($)	Dec. 31, 2016USD ($)
Restructuring and Related Activities [Abstract]
Total restructuring costs	$ 0	$ 0	$ 4,797	$ 0
Severance benefits, number of employees | employee	97		97
Restructuring reserve	$ 1,535		$ 1,535		$ 3,893

Restructuring - Restructuring C

Restructuring - Restructuring Costs (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Restructuring Cost and Reserve [Line Items]
Total restructuring costs	$ 0	$ 0	$ 4,797	$ 0
Corporate/Other
Restructuring Cost and Reserve [Line Items]
Total restructuring costs			130
Fluid & Metering Technologies
Restructuring Cost and Reserve [Line Items]
Total restructuring costs			1,566
Health & Science Technologies
Restructuring Cost and Reserve [Line Items]
Total restructuring costs			3,028
Fire & Safety/Diversified Products
Restructuring Cost and Reserve [Line Items]
Total restructuring costs			73
Severance Costs
Restructuring Cost and Reserve [Line Items]
Total restructuring costs			4,239
Severance Costs | Corporate/Other
Restructuring Cost and Reserve [Line Items]
Total restructuring costs			130
Severance Costs | Fluid & Metering Technologies
Restructuring Cost and Reserve [Line Items]
Total restructuring costs			1,566
Severance Costs | Health & Science Technologies
Restructuring Cost and Reserve [Line Items]
Total restructuring costs			2,470
Severance Costs | Fire & Safety/Diversified Products
Restructuring Cost and Reserve [Line Items]
Total restructuring costs			73
Exit Costs
Restructuring Cost and Reserve [Line Items]
Total restructuring costs			558
Exit Costs | Corporate/Other
Restructuring Cost and Reserve [Line Items]
Total restructuring costs			0
Exit Costs | Fluid & Metering Technologies
Restructuring Cost and Reserve [Line Items]
Total restructuring costs			0
Exit Costs | Health & Science Technologies
Restructuring Cost and Reserve [Line Items]
Total restructuring costs			558
Exit Costs | Fire & Safety/Diversified Products
Restructuring Cost and Reserve [Line Items]
Total restructuring costs			$ 0

Restructuring - Restructuring A

Restructuring - Restructuring Accruals (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Restructuring Reserve [Roll Forward]
Balance at January 1, 2017			$ 3,893
Restructuring expenses	$ 0	$ 0	4,797	$ 0
Payments, utilization and other			(7,155)
Balance at June 30, 2017	$ 1,535		$ 1,535

Other Comprehensive Income (L65

Other Comprehensive Income (Loss) - Components of Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Accumulated Other Comprehensive Income (Loss) [Line Items]
Other comprehensive income (loss)	$ 49,657	$ (25,359)	$ 72,873	$ (7,374)
AOCI
Accumulated Other Comprehensive Income (Loss) [Line Items]
Total other comprehensive income (loss), Pre-tax	50,834	(24,412)	75,237	(5,478)
Total other comprehensive income (loss), Tax	(1,177)	(947)	(2,364)	(1,896)
Other comprehensive income (loss)	49,657	(25,359)	72,873	(7,374)
Cumulative translation adjustment
Accumulated Other Comprehensive Income (Loss) [Line Items]
Total other comprehensive income (loss), Pre-tax	47,314	(27,043)	68,364	(10,826)
Total other comprehensive income (loss), Tax	0	0	0	0
Other comprehensive income (loss)	47,314	(27,043)	68,364	(10,826)
Pension and other postretirement adjustments
Accumulated Other Comprehensive Income (Loss) [Line Items]
Total other comprehensive income (loss), Pre-tax	1,874	912	3,550	1,905
Total other comprehensive income (loss), Tax	(594)	(321)	(1,146)	(643)
Other comprehensive income (loss)	1,280	591	2,404	1,262
Reclassification adjustments for derivatives
Accumulated Other Comprehensive Income (Loss) [Line Items]
Total other comprehensive income (loss), Pre-tax	1,646	1,719	3,323	3,443
Total other comprehensive income (loss), Tax	(583)	(626)	(1,218)	(1,253)
Other comprehensive income (loss)	$ 1,063	$ 1,093	$ 2,105	$ 2,190

Other Comprehensive Income (L66

Other Comprehensive Income (Loss) - Amounts Reclassified from Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Amortization of service cost	$ (131,792)	$ (130,235)	$ (262,265)	$ (250,225)
Reclassification adjustments	(11,304)	(11,205)	(22,856)	(21,694)
Total before tax	(29,613)	(27,886)	(58,141)	(52,568)
Reclassification out of Accumulated Other Comprehensive Income | Pension and other postretirement plans
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Amortization of service cost	1,874	912	3,550	1,905
Total before tax	1,874	912	3,550	1,905
Total before tax	(594)	(321)	(1,146)	(643)
Total net of tax	1,280	591	2,404	1,262
Reclassification out of Accumulated Other Comprehensive Income | Derivatives
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Total before tax	1,646	1,719	3,323	3,443
Reclassification adjustments	1,646	1,719	3,323	3,443
Total before tax	(583)	(626)	(1,218)	(1,253)
Total net of tax	$ 1,063	$ 1,093	$ 2,105	$ 2,190

Common and Preferred Stock (Det

Common and Preferred Stock (Details) - USD ($) $ / shares in Units, $ in Thousands	Dec. 01, 2015	Apr. 30, 2016	Jun. 30, 2017	Jun. 30, 2016	Dec. 31, 2016
Equity [Abstract]
Increase in share repurchase authorized amount	$ 300,000
Purchase of common stock (in shares)			106,000	726,000
Repurchase of common stock, including subsequent settlements			$ 9,800	$ 53,900
Purchase of common stock		$ 200	9,799	$ 55,971
Remaining authorized repurchase amount			$ 570,200
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, shares outstanding (in shares)			0		0

Share Based Compensation - Narr

Share Based Compensation - Narrative (Details) - USD ($) $ in Millions	1 Months Ended		6 Months Ended
	Feb. 28, 2017	Apr. 30, 2014	Jun. 30, 2017
Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (in shares)			57,930
Total unrecognized compensation cost			$ 6.8
Weighted-average period of total unrecognized compensation cost, in years			1 year 1 month 6 days
Restricted Stock | Employees and Non-employee Directors
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period			3 years
Cash-settled Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period			3 years
Granted (in shares)			33,670
Total unrecognized compensation cost			$ 4.7
Weighted-average period of total unrecognized compensation cost, in years			1 year 1 month 6 days
Stock Option
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total unrecognized compensation cost			$ 15.3
Weighted-average period of total unrecognized compensation cost, in years			1 year 6 months
Performance Shares Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period			3 years
Granted (in shares)		63,325	65,530
Payout percent	141.00%
Stock issued during period (in shares)	89,288
Total unrecognized compensation cost			$ 9.4
Weighted-average period of total unrecognized compensation cost, in years			1 year 1 month 6 days

Share-Based Compensation - Sche

Share-Based Compensation - Schedule of Weighted Average Option Fair Values and Assumptions (Details) - Stock Option - $ / shares	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average fair value of grants (in dollars per share)	$ 24.68	$ 20.60	$ 24.12	$ 18.41
Dividend yield	1.43%	1.63%	1.45%	1.70%
Volatility	29.32%	29.62%	29.41%	29.71%
Risk-free interest rate, minimum	1.06%	0.60%	0.83%	0.53%
Risk-free interest rate, maximum	2.90%	2.56%	3.04%	2.50%
Expected life (in years)	5 years 9 months 26 days	5 years 10 months 28 days	5 years 9 months 29 days	5 years 10 months 28 days

Share-Based Compensation - Sc70

Share-Based Compensation - Schedule of Compensation Cost for Stock Options (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Share-based compensation expense			$ 12,398	$ 11,603
Stock Option
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Share-based compensation expense	$ 1,687	$ 1,654	4,157	4,068
Income tax benefit	(547)	(526)	(1,294)	(1,286)
Total expense after income taxes	1,140	1,128	2,863	2,782
Stock Option | Cost of goods sold
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Share-based compensation expense	88	143	274	262
Stock Option | Selling, general and administrative expenses
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Share-based compensation expense	$ 1,599	$ 1,511	$ 3,883	$ 3,806

Share-Based Compensation - Stoc

Share-Based Compensation - Stock Options Activity (Details) - Stock Option - USD ($)	6 Months Ended	12 Months Ended
	Jun. 30, 2017	Dec. 31, 2016
Shares
Beginning balance (in shares)	1,987,946
Granted (in shares)	437,500
Exercised (in shares)	(231,932)
Forfeited/Expired (in shares)	(37,642)
Ending balance (in shares)	2,155,872	1,987,946
Vested and expected to vest (in shares)	2,012,365
Exercisable (in shares)	1,078,817
Weighted Average Price
Beginning Balance, Weighted Average Price (in dollars per share)	$ 61.83
Granted, Weighted Average Price (in dollars per share)	93.22
Exercised, Weighted Average Price (in dollars per share)	55.98
Forfeited, Weighted Average Price (in dollars per share)	77.76
Ending Balance, Weighted Average Price (in dollars per share)	$ 68.56	$ 61.83
Weighted-Average Remaining Contractual Term
Stock options outstanding, Weighted-Average Remaining Contractual Term	7 years 29 days	6 years 10 months 2 days
Aggregate Intrinsic Value
Stock options outstanding, Aggregate intrinsic value	$ 95,835,269	$ 56,144,876
Vested and expected to vest , Weighted Average Price (in dollars per share)	$ 67.41
Exercisable, Weighted Average Price (in dollars per share)	$ 54.24
Weighted-Average Remaining Contractual Term, Vested and expected to vest	6 years 11 months 12 days
Weighted-Average Remaining Contractual Term, Exercisable	5 years 5 months 5 days
Aggregate Intrinsic Value, Vested and expected to vest	$ 91,759,774
Aggregate Intrinsic Value, Exercisable	$ 63,406,719

Share-Based Compensation - Rest

Share-Based Compensation - Restricted Stock Units Activity (Details) - Restricted Stock	6 Months Ended
	Jun. 30, 2017$ / sharesshares
Shares
Unvested, Beginning balance (in shares) | shares	217,898
Granted (in shares) | shares	57,930
Vested (in shares) | shares	(72,744)
Forfeited (in shares) | shares	(8,495)
Unvested, Ending balance (in shares) | shares	194,589
Weighted-Average Grant Date Fair Value
Unvested, Beginning balance (in dollars per share) | $ / shares	$ 76.19
Granted (in dollars per share) | $ / shares	93.16
Vested (in dollars per share) | $ / shares	71.89
Forfeited (in dollars per share) | $ / shares	78.14
Unvested, Ending balance (in dollars per share) | $ / shares	$ 82.76

Share-Based Compensation - Sc73

Share-Based Compensation - Schedule of Compensation Cost for Restricted Stock Units (Details) - Restricted Stock - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total expense before income taxes	$ 1,373	$ 1,101	$ 2,778	$ 2,759
Income tax benefit	(486)	(324)	(925)	(837)
Total expense after income taxes	887	777	1,853	1,922
Cost of goods sold
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total expense before income taxes	67	133	219	261
Selling, general and administrative expenses
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total expense before income taxes	$ 1,306	$ 968	$ 2,559	$ 2,498

Share-Based Compensation - Cash

Share-Based Compensation - Cash-settled Restricted Stock Activity (Details) - Cash-settled Restricted Stock	6 Months Ended
	Jun. 30, 2017$ / sharesshares
Shares
Unvested, Beginning balance (in shares) | shares	103,790
Granted (in shares) | shares	33,670
Vested (in shares) | shares	(26,745)
Forfeited (in shares) | shares	(12,310)
Unvested, Ending balance (in shares) | shares	98,405
Weighted-Average Grant Date Fair Value
Unvested, Beginning balance (in dollars per share) | $ / shares	$ 90.06
Granted (in dollars per share) | $ / shares	93.32
Vested (in dollars per share) | $ / shares	92.13
Forfeited (in dollars per share) | $ / shares	113.01
Unvested, Ending balance (in dollars per share) | $ / shares	$ 113.01

Share-Based Compensation - Sc75

Share-Based Compensation - Schedule of Compensation Cost for Cash-settled Restricted Stock (Details) - Cash-settled Restricted Stock - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total expense before income taxes	$ 1,465	$ 592	$ 2,143	$ 1,281
Income tax benefit	(240)	(86)	(382)	(184)
Total expense after income taxes	1,225	506	1,761	1,097
Cost of goods sold
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total expense before income taxes	388	131	636	320
Selling, general and administrative expenses
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total expense before income taxes	$ 1,077	$ 461	$ 1,507	$ 961

Share-Based Compensation - Sc76

Share-Based Compensation - Schedule of Weighted Average Performance Share Units Fair Values and Assumptions (Details) - Performance Shares Units - $ / shares	6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average fair value of performance share units (in dollars per share)	$ 115.74	$ 111.42
Dividend yield	0.00%	0.00%
Volatility	17.36%	17.99%
Risk-free forward interest rate	1.45%	0.89%
Expected life (in years)	2 years 10 months 6 days	2 years 10 months 10 days

Share-Based Compensation - Perf

Share-Based Compensation - Performance Share Unit Activity (Details) - Performance Shares Units - $ / shares	1 Months Ended	6 Months Ended
	Apr. 30, 2014	Jun. 30, 2017
Shares
Unvested, Beginning balance (in shares)		137,055
Granted (in shares)	63,325	65,530
Vested (in shares)		0
Forfeited (in shares)		(4,260)
Unvested, Ending balance (in shares)		198,325
Weighted-Average Grant Date Fair Value
Unvested, Beginning balance (in dollars per share)		$ 104.18
Granted (in dollars per share)		115.74
Vested (in dollars per share)		0
Forfeited (in dollars per share)		101.79
Unvested, Ending balance (in dollars per share)		$ 108.24

Share-Based Compensation - Sc78

Share-Based Compensation - Schedule of Compensation Cost for Performance Share Units (Details) - Performance Shares Units - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total expense before income taxes	$ 1,714	$ 1,815	$ 3,320	$ 3,496
Income tax benefit	(586)	(633)	(1,093)	(1,168)
Total expense after income taxes	1,128	1,182	2,227	2,328
Cost of goods sold
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total expense before income taxes	0	0	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	$ 1,714	$ 1,815	$ 3,320	$ 3,496

Retirement Benefits - Narrative

Retirement Benefits - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016	Dec. 31, 2016
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Selling, general and administrative expenses	$ 131,792	$ 130,235	$ 262,265	$ 250,225
Defined Benefit Plan Disclosure [Line Items]
Contributions by employer			2,000
Pension Benefits
Defined Benefit Plan Disclosure [Line Items]
Expected contribution for next fiscal year					$ 5,800
Expected contributions in current fiscal year	4,800		4,800
Other Postretirement Benefits
Defined Benefit Plan Disclosure [Line Items]
Expected contribution for next fiscal year					$ 100
Expected contributions in current fiscal year	$ 600		$ 600
Accounting Standards Update 2017-17 | Other (Income) Expense Net
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Selling, general and administrative expenses		$ 800		$ 1,600

Retirement Benefits - Component

Retirement Benefits - Components of Net Periodic Benefit Cost for Defined Benefit Plans and Other Postretirement Plans (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Other Postretirement Benefits
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Service cost	$ 152	$ 181	$ 304	$ 313
Interest cost	204	224	408	398
Net amortization	(199)	(154)	(397)	(308)
Net periodic benefit cost	157	251	315	403
U.S. | Pension Benefits
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Service cost	254	294	508	588
Interest cost	661	747	1,321	1,494
Expected return on plan assets	(944)	(1,175)	(1,888)	(2,350)
Net amortization	641	827	1,283	1,654
Net periodic benefit cost	612	693	1,224	1,386
Non-U.S. | Pension Benefits
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Service cost	494	304	976	603
Interest cost	317	355	625	705
Expected return on plan assets	(270)	(220)	(534)	(439)
Net amortization	395	243	777	481
Net periodic benefit cost	$ 936	$ 682	$ 1,844	$ 1,350

Income Taxes (Details)

Income Taxes (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Significant Change in Unrecognized Tax Benefits is Reasonably Possible [Line Items]
Provision for income taxes	$ 29,613,000	$ 27,886,000	$ 58,141,000	$ 52,568,000
Effective tax rate	26.10%	26.90%	26.70%	26.80%
Minimum
Significant Change in Unrecognized Tax Benefits is Reasonably Possible [Line Items]
Reasonably possible change in unrecognized tax benefits over next 12 months	$ 0		$ 0
Maximum
Significant Change in Unrecognized Tax Benefits is Reasonably Possible [Line Items]
Reasonably possible change in unrecognized tax benefits over next 12 months	$ 2,300,000		$ 2,300,000