IDEX (IEX) 10-Q 30 Oct 19 2019 Q3 Quarterly report Financial data

Cover Page

Cover Page - shares	9 Months Ended
	Sep. 30, 2019	Oct. 23, 2019
Cover page.
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2019
Document Transition Report	false
Entity File Number	1-10235
Entity Registrant Name	IDEX CORP /DE/
Entity Central Index Key	0000832101
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	Q3
Amendment Flag	false
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	36-3555336
Entity Address, Address Line One	1925 West Field Court,
Entity Address, Address Line Two	Suite 200,
Entity Address, City or Town	Lake Forest,
Entity Address, State or Province	IL
Entity Address, Postal Zip Code	60045
City Area Code	847
Local Phone Number	498-7070
Title of 12(b) Security	Common Stock, par value $.01 per share
Trading Symbol	IEX
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		76,059,867

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Current assets
Cash and cash equivalents	$ 515,985	$ 466,407
Receivables, less allowance for doubtful accounts of $6,311 at September 30, 2019 and $6,709 at December 31, 2018	317,305	312,192
Inventories	303,494	279,995
Other current assets	53,840	33,938
Total current assets	1,190,624	1,092,532
Property, plant and equipment - net	273,330	281,220
Goodwill	1,774,390	1,697,955
Intangible assets - net	390,908	383,327
Other noncurrent assets	84,643	18,823
Total assets	3,713,895	3,473,857
Current liabilities
Trade accounts payable	147,079	143,196
Accrued expenses	185,156	187,536
Short-term borrowings	417	483
Dividends payable	38,018	33,446
Total current liabilities	370,670	364,661
Long-term borrowings	848,728	848,335
Deferred income taxes	162,017	128,007
Other noncurrent liabilities	169,427	138,214
Total liabilities	1,550,842	1,479,217
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: 89,935,175 shares at September 30, 2019 and 90,112,028 shares at December 31, 2018	899	901
Additional paid-in capital	754,702	738,339
Retained earnings	2,556,423	2,342,079
Treasury stock at cost: 13,898,506 shares at September 30, 2019 and 14,159,251 shares at December 31, 2018	(989,110)	(957,454)
Accumulated other comprehensive income (loss)	(159,861)	(129,225)
Total shareholders’ equity	2,163,053	1,994,640
Total liabilities and shareholders’ equity	$ 3,713,895	$ 3,473,857

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Statement of Financial Position [Abstract]
Receivables, allowance for doubtful accounts	$ 6,311	$ 6,709
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)	89,935,175	90,112,028
Treasury stock, shares (in shares)	13,898,506	14,159,251

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Income Statement [Abstract]
Net sales	$ 624,246	$ 622,888	$ 1,888,576	$ 1,869,572
Cost of sales	342,268	342,655	1,030,427	1,025,320
Gross profit	281,978	280,233	858,149	844,252
Selling, general and administrative expenses	128,257	130,479	399,237	406,354
Restructuring expenses	11,956	4,621	14,082	8,251
Operating income	141,765	145,133	444,830	429,647
Other (income) expense - net	1,219	934	701	(3,565)
Interest expense	11,330	10,958	33,262	33,098
Income before income taxes	129,216	133,241	410,867	400,114
Provision for income taxes	24,022	26,889	82,196	87,678
Net income	$ 105,194	$ 106,352	$ 328,671	$ 312,436
Basic earnings per common share (in dollars per share)	$ 1.39	$ 1.39	$ 4.34	$ 4.07
Diluted earnings per common share (in dollars per share)	$ 1.37	$ 1.37	$ 4.30	$ 4.02
Share data:
Basic weighted average common shares outstanding (in shares)	75,698	76,562	75,532	76,507
Diluted weighted average common shares outstanding (in shares)	76,577	77,709	76,415	77,717

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Statement of Comprehensive Income [Abstract]
Net income	$ 105,194	$ 106,352	$ 328,671	$ 312,436
Other comprehensive income (loss):
Reclassification adjustments for derivatives, net of tax	1,210	1,244	3,661	3,764
Pension and other postretirement adjustments, net of tax	1,663	1,270	4,181	3,979
Cumulative translation adjustment	(37,825)	9,164	(38,478)	(25,903)
Other comprehensive income (loss)	(34,952)	11,678	(30,636)	(18,160)
Comprehensive income	$ 70,242	$ 118,030	$ 298,035	$ 294,276

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY - USD ($) $ in Thousands	Total	Common Stock and Additional Paid-In Capital	Retained Earnings	Cumulative Translation Adjustment	Retirement Benefits Adjustment	Cumulative Unrealized Gain (Loss) on Derivatives	Treasury Stock
Balance at Dec. 31, 2017	$ 1,886,542	$ 717,808	$ 2,057,915	$ (46,306)	$ (29,154)	$ (14,047)	$ (799,674)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	98,958		98,958
Adjustment for adoption of ASU					(3,411)	(3,024)
Adjustment for adoption of ASU | Accounting Standards Update 2016-16	(645)		(645)
Adjustment for adoption of ASU | Accounting Standards Update 2018-02	0		6,435
Cumulative translation adjustment	27,578			27,578
Net change in retirement obligations (net of tax)	1,413				1,413
Net change on derivatives designated as cash flow hedges (net of tax)	1,261					1,261
Issuance of shares of common stock from issuance of unvested shares, performance share units and exercise of stock options (net of tax)	6,590						6,590
Shares surrendered for tax withholding	(10,750)						(10,750)
Share-based compensation	5,938	5,938
Balance at Mar. 31, 2018	2,016,885	723,746	2,162,663	(18,728)	(31,152)	(15,810)	(803,834)
Balance at Dec. 31, 2017	1,886,542	717,808	2,057,915	(46,306)	(29,154)	(14,047)	(799,674)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	312,436
Net change in retirement obligations (net of tax)	3,979
Repurchase of shares of common stock	(51,700)
Balance at Sep. 30, 2018	2,060,574	733,843	2,276,634	(72,209)	(28,586)	(13,307)	(835,801)
Balance at Mar. 31, 2018	2,016,885	723,746	2,162,663	(18,728)	(31,152)	(15,810)	(803,834)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	107,126		107,126
Cumulative translation adjustment	(62,645)			(62,645)
Net change in retirement obligations (net of tax)	1,296				1,296
Net change on derivatives designated as cash flow hedges (net of tax)	1,259					1,259
Issuance of shares of common stock from issuance of unvested shares, performance share units and exercise of stock options (net of tax)	7,026						7,026
Repurchase of shares of common stock	(20,494)						(20,494)
Share-based compensation	5,014	5,014
Cash dividends declared	(66,316)		(66,316)
Balance at Jun. 30, 2018	1,989,151	728,760	2,203,473	(81,373)	(29,856)	(14,551)	(817,302)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	106,352		106,352
Cumulative translation adjustment	9,164			9,164
Net change in retirement obligations (net of tax)	1,270				1,270
Net change on derivatives designated as cash flow hedges (net of tax)	1,244					1,244
Issuance of shares of common stock from issuance of unvested shares, performance share units and exercise of stock options (net of tax)	13,177						13,177
Repurchase of shares of common stock	(31,166)						(31,166)
Shares surrendered for tax withholding	(510)						(510)
Share-based compensation	5,083	5,083
Cash dividends declared	(33,191)		(33,191)
Balance at Sep. 30, 2018	2,060,574	733,843	2,276,634	(72,209)	(28,586)	(13,307)	(835,801)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Adjustment for adoption of ASU | Accounting Standards Update 2016-02	28		28
Balance at Dec. 31, 2018	1,994,640	739,240	2,342,079	(94,420)	(22,740)	(12,065)	(957,454)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	110,268		110,268
Cumulative translation adjustment	(3,281)			(3,281)
Net change in retirement obligations (net of tax)	1,262				1,262
Net change on derivatives designated as cash flow hedges (net of tax)	1,227					1,227
Issuance of shares of common stock from issuance of unvested shares, performance share units and exercise of stock options (net of tax)	8,870						8,870
Repurchase of shares of common stock	(51,706)						(51,706)
Shares surrendered for tax withholding	(11,479)						(11,479)
Share-based compensation	5,403	5,403
Balance at Mar. 31, 2019	2,055,232	744,643	2,452,375	(97,701)	(21,478)	(10,838)	(1,011,769)
Balance at Dec. 31, 2018	1,994,640	739,240	2,342,079	(94,420)	(22,740)	(12,065)	(957,454)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	328,671
Net change in retirement obligations (net of tax)	4,181
Repurchase of shares of common stock	(54,700)
Balance at Sep. 30, 2019	2,163,053	755,601	2,556,423	(132,898)	(18,559)	(8,404)	(989,110)
Balance at Mar. 31, 2019	2,055,232	744,643	2,452,375	(97,701)	(21,478)	(10,838)	(1,011,769)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	113,209		113,209
Cumulative translation adjustment	2,628			2,628
Net change in retirement obligations (net of tax)	1,256				1,256
Net change on derivatives designated as cash flow hedges (net of tax)	1,224					1,224
Issuance of shares of common stock from issuance of unvested shares, performance share units and exercise of stock options (net of tax)	11,891						11,891
Repurchase of shares of common stock	(2,962)						(2,962)
Shares surrendered for tax withholding	(30)						(30)
Share-based compensation	5,266	5,266
Cash dividends declared	(75,673)		(75,673)
Balance at Jun. 30, 2019	2,112,041	749,909	2,489,911	(95,073)	(20,222)	(9,614)	(1,002,870)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	105,194		105,194
Cumulative translation adjustment	(37,825)			(37,825)
Net change in retirement obligations (net of tax)	1,663				1,663
Net change on derivatives designated as cash flow hedges (net of tax)	1,210					1,210
Issuance of shares of common stock from issuance of unvested shares, performance share units and exercise of stock options (net of tax)	14,834						14,834
Shares surrendered for tax withholding	(1,074)						(1,074)
Share-based compensation	5,692	5,692
Cash dividends declared	(38,682)		(38,682)
Balance at Sep. 30, 2019	$ 2,163,053	$ 755,601	$ 2,556,423	$ (132,898)	$ (18,559)	$ (8,404)	$ (989,110)

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY (Parenthetical) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018
Statement of Stockholders' Equity [Abstract]
Pension and other postretirement adjustments, tax	$ 525	$ 435	$ 438	$ 455	$ 457	$ 505
Amortization of forward starting swaps, tax	$ 356	$ 359	$ 361	$ 366	$ 368	$ 371
Issuance of common stock from performance share units and exercise of stock options (in shares)	215,823	169,785	264,090	238,280	96,981	227,932
Issuance of common stock from exercise of stock options and deferred compensation plans, tax amount	$ 1,171	$ 679	$ 3,415	$ 859	$ 351	$ 2,934
Purchase of common stock (in shares)	0	19,143	369,810	209,100	147,490	0
Cash dividends declared, per common share outstanding (in dollars per share)	$ 0.50	$ 1	$ 0	$ 0.43	$ 0.86	$ 0

CONDENSED CONSOLIDATED STATEM_5

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018
Cash flows from operating activities
Net income	$ 328,671	$ 312,436
Adjustments to reconcile net income to net cash provided by operating activities:
Asset impairments	9,680	0
Depreciation and amortization	29,599	29,725
Amortization of intangible assets	27,747	29,505
Amortization of debt issuance expenses	1,013	998
Share-based compensation expense	20,620	19,814
Deferred income taxes	11,528	(1,480)
Non-cash interest expense associated with forward starting swaps	4,737	4,869
Changes in (net of the effect from acquisitions):
Receivables	(2,071)	(34,057)
Inventories	(16,987)	(27,903)
Other current assets	(19,186)	7,635
Trade accounts payable	2,807	(4,420)
Accrued expenses	(23,222)	33
Other - net	1,966	(11,402)
Net cash flows provided by operating activities	376,902	325,753
Cash flows from investing activities
Purchases of property, plant and equipment	(36,773)	(39,856)
Purchase of intellectual property	0	(4,000)
Acquisition of businesses, net of cash acquired	(87,180)	(20,205)
Proceeds from disposal of fixed assets	957	211
Other - net	407	(1,180)
Net cash flows used in investing activities	(122,589)	(65,030)
Cash flows from financing activities
Payments under revolving credit facilities	0	(11,128)
Payments under other long-term borrowings	(49,923)	0
Dividends paid	(109,227)	(94,913)
Proceeds from stock option exercises	35,595	26,793
Repurchases of common stock	(54,668)	(50,654)
Shares surrendered for tax withholding	(12,583)	(11,260)
Settlement of foreign exchange contracts	0	6,593
Other - net	(1,865)	0
Net cash flows used in financing activities	(192,671)	(134,569)
Effect of exchange rate changes on cash and cash equivalents	(12,064)	(10,337)
Net increase in cash	49,578	115,817
Cash and cash equivalents at beginning of year	466,407	375,950
Cash and cash equivalents at end of period	515,985	491,767
Cash paid for:
Interest	18,832	18,547
Income taxes	84,326	73,138
Significant non-cash activities:
Capital expenditures for construction of new leased facility	0	11,616
Contingent consideration for acquisition	0	3,375
Debt acquired with acquisition of business	$ 51,130	$ 0

Basis of Presentation and Signi

Basis of Presentation and Significant Accounting Policies	9 Months Ended
	Sep. 30, 2019
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 nine months ended September 30, 2019 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, 2018 . Recently Adopted Accounting Standards In February 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“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). This standard introduced a new lessee model that requires most leases to be recorded on the balance sheet and eliminates the required use of bright line tests for determining lease classification from U.S. GAAP. In July 2018, the FASB issued ASU 2018-10, Codification Improvements to Topic 842 , Leases and ASU 2018-11, Leases (Topic 842): Targeted Improvements, which clarified ASU 2016-02 and had the same effective date as the original standard. ASU 2018-11 included an option to use the effective date of ASU 2016-02 as the date of initial application of transition as well as an option not to restate comparative periods in transition. In March 2019, the FASB issued ASU 2019-01, Leases (Topic 842): Codification Improvements, which also clarified ASU 2016-02 and is effective for fiscal years beginning after December 15, 2019 and interim periods within those fiscal years. The Company adopted this standard on January 1, 2019 using the optional transition method provided by the FASB in ASU 2018-11. As we did not restate comparative periods, the adoption had no impact on our previously reported results. We elected to use the practical expedient that allowed us not to reassess: (1) whether any expired or existing contracts are or contain leases, (2) the lease classification for any expired or existing leases and (3) initial direct costs for any expired or existing leases and the practical expedient that allows us to treat the lease and non-lease components as a single lease component for all asset classes. We also elected to account for short-term leases in accordance with Accounting Standards Codification (“ASC”) 842-20-25-2. The adoption of this standard had a material impact on our condensed consolidated balance sheet due to the recognition of right of use assets and lease liabilities. Upon adoption, we recognized right of use assets and lease liabilities of approximately $68 million that reflected the present value of future lease payments. The adoption of this standard did not have a material impact on our condensed consolidated results of operations or cash flows. See Note 13 for further information.

Acquisitions and Divestitures

Acquisitions and Divestitures	9 Months Ended
	Sep. 30, 2019
Business Combinations and Dispositions [Abstract]
Acquisitions and Divestitures	Acquisitions and Divestitures All of the Company’s acquisitions of businesses have been accounted for under ASC 805, Business Combinations . Accordingly, the accounts of the acquired companies, after adjustments to reflect the fair values assigned to assets and liabilities, have been included in the Company’s condensed consolidated financial statements from their respective dates of acquisition. The results of operations of the acquired companies have been included in the Company’s condensed consolidated results since the date of each acquisition. The Company incurred acquisition-related transaction costs of $0.6 million in the three months ended September 30, 2019 and $1.3 million and $1.5 million in the nine months ended September 30, 2019 and 2018 , respectively. The Company did no t incur any acquisition-related transaction costs in the three months ended September 30, 2018. 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. The Company also incurred a $3.3 million fair value inventory step-up charge associated with the completed 2019 acquisition in the three and nine months ended September 30, 2019. This charge was recorded in Cost of sales. 2019 Acquisition On July 18, 2019, the Company acquired the stock of Velcora Holding AB (“Velcora”) and its operating subsidiaries, Roplan and Steridose. Roplan is a global manufacturer of custom mechanical and shaft seals for a variety of end markets including food and beverage, marine, chemical, wastewater and water treatment. Steridose develops engineered hygienic mixers and valves for the global biopharmaceutical industry. Both companies are headquartered in Sweden, with operations in China, the United Kingdom and the United States. Roplan and Steridose had combined annual revenues in their most recent fiscal year of approximately $40 million and operate in our Health & Science Technologies segment. Velcora was acquired for cash consideration of $ 87.2 million and the assumption of $51.1 million of debt. The entire purchase price was funded with cash on hand. Goodwill and intangible assets recognized as part of this transaction were $97.4 million and $47.5 million, respectively. The goodwill is not deductible for tax purposes. The Company made an initial allocation of the purchase price for the Velcora acquisition as of the acquisition date based on its understanding of the fair value of the acquired assets and assumed liabilities. These nonrecurring fair value measurements are classified as Level 3 in the fair value hierarchy. As the Company continues to obtain additional information about these assets and liabilities, including intangible asset appraisals, and continues to learn more about the newly acquired businesses, we will refine the estimates of fair value and more accurately allocate the purchase price. Only items identified as of the acquisition date are considered for subsequent adjustment. The Company will make appropriate adjustments to the purchase price allocation prior to the completion of the measurement period, as required. The preliminary allocation of the acquisition costs to the assets acquired and liabilities assumed, based on their estimated fair values at the acquisition date, is as follows: (In thousands) Total Current assets, net of cash acquired $ 19,047 Property, plant and equipment 3,251 Goodwill 97,352 Intangible assets 47,501 Other noncurrent assets 791 Total assets acquired 167,942 Current liabilities (6,074 ) Long-term borrowings (51,130 ) Deferred income taxes (23,103 ) Other noncurrent liabilities (455 ) Net assets acquired $ 87,180 Acquired intangible assets consist of trade names, customer relationships and unpatented technology. The goodwill recorded for the acquisition reflects the strategic fit, revenue and earnings growth potential of these businesses. The acquired intangible assets and weighted average amortization periods are as follows: (In thousands, except weighted average life) Total Weighted Average Life Trade names $ 6,411 15 Customer relationships 34,673 12 Unpatented technology 6,417 9 Acquired intangible assets $ 47,501 On September 3, 2019, the Company settled the debt assumed in the Velcora acquisition and incurred a loss on early retirement of $0.7 million which was recorded in Other (income) expense - net in the Condensed Consolidated Statements of Operations for the three and nine months ended September 30, 2019. 2018 Acquisition On July 23, 2018, the Company acquired Finger Lakes Instrumentation (“FLI”), a technology leader in the design, development and production of low-noise cooled CCD and high speed, high-sensitivity Scientific CMOS cameras for the astronomy and life science markets. Headquartered in Lima, NY, FLI operates in our Health & Sciences Technologies segment. FLI was acquired for an aggregate purchase price of $23.6 million , consisting of $20.2 million in cash and contingent consideration valued at $3.4 million as of the opening balance sheet date. The contingent consideration is based on the achievement of financial objectives during the 24 -month period following the close of the transaction. The entire purchase price was funded with cash on hand. Goodwill and intangible assets recognized as part of this transaction were $12.6 million and $7.9 million , respectively. Acquired intangible assets consist of trade names, customer relationships and unpatented technology. The goodwill recorded for the acquisition reflects the strategic fit, revenue and earnings growth potential of this business. The goodwill is deductible for tax purposes.

Business Segments

Business Segments	9 Months Ended
	Sep. 30, 2019
Segment Reporting [Abstract]
Business Segments	Business Segments IDEX has three reportable business segments: Fluid & Metering Technologies (“FMT”), Health & Science Technologies (“HST”) and Fire & Safety/Diversified Products (“FSDP”). The Fluid & Metering Technologies segment designs, produces and distributes positive displacement pumps, flow meters, injectors and other fluid-handling pump modules and systems and provides flow monitoring and other services for the food, chemical, general industrial, water and 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, custom mechanical and shaft seals for a variety of end markets including food and beverage, marine, chemical, wastewater and water treatment, engineered hygienic mixers and valves for the global biopharmaceutical industry, 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 designs, produces and distributes firefighting pumps, valves and controls, rescue tools, lifting bags and other components and systems for the fire and rescue industry, engineered stainless steel banding and clamping devices used in a variety of industrial and commercial applications and precision equipment for dispensing, metering and mixing colorants and paints used in a variety of retail and commercial businesses around the world. Information on the Company’s business segments is presented below based on the nature of products and services offered. The Company evaluates performance based on several factors, of which sales, operating income and operating margin are the primary financial measures. Intersegment sales are accounted for at fair value as if the sales were to third parties. Three Months Ended September 30, Nine Months Ended September 30, 2019 2018 2019 2018 Net sales Fluid & Metering Technologies External customers $ 240,758 $ 239,119 $ 729,205 $ 714,135 Intersegment sales 103 94 367 211 Total segment sales 240,861 239,213 729,572 714,346 Health & Science Technologies External customers 228,988 222,351 685,848 670,685 Intersegment sales 622 75 1,305 219 Total segment sales 229,610 222,426 687,153 670,904 Fire & Safety/Diversified Products External customers 154,500 161,418 473,523 484,752 Intersegment sales 43 414 1,222 553 Total segment sales 154,543 161,832 474,745 485,305 Intersegment elimination (768 ) (583 ) (2,894 ) (983 ) Total net sales $ 624,246 $ 622,888 $ 1,888,576 $ 1,869,572 Operating income Fluid & Metering Technologies $ 77,481 $ 69,755 $ 223,493 $ 207,149 Health & Science Technologies 40,170 49,144 151,087 153,519 Fire & Safety/Diversified Products 41,967 44,726 125,909 130,162 Corporate office (17,853 ) (18,492 ) (55,659 ) (61,183 ) Total operating income 141,765 145,133 444,830 429,647 Interest expense 11,330 10,958 33,262 33,098 Other (income) expense - net 1,219 934 701 (3,565 ) Income before income taxes $ 129,216 $ 133,241 $ 410,867 $ 400,114 September 30, December 31, Assets Fluid & Metering Technologies $ 1,121,170 $ 1,107,777 Health & Science Technologies 1,510,210 1,329,368 Fire & Safety/Diversified Products 812,798 806,075 Corporate office 269,717 230,637 Total assets $ 3,713,895 $ 3,473,857

Revenue

Revenue	9 Months Ended
	Sep. 30, 2019
Revenue from Contract with Customer [Abstract]
Revenue	Revenue IDEX is an applied solutions company specializing in the manufacture of fluid and metering technologies, health and science technologies and fire, safety and other diversified products built to customers’ specifications. The Company’s products include industrial pumps, compressors, flow meters, injectors, valves and related controls for use in a wide variety of process applications; precision fluidics solutions, including pumps, valves, degassing equipment, corrective tubing, fittings and complex manifolds, optical filters and specialty medical equipment and devices for use in life science applications; precision-engineered equipment for dispensing, metering and mixing paints; and engineered products for industrial and commercial markets, including fire and rescue, transportation equipment, oil and gas, electronics and communications. Revenue is recognized when control of products or services is transferred to our customers in an amount that reflects the consideration we expect to be entitled to in exchange for transferring those products or providing those services. We account for a contract when it has approval and commitment from both parties, the rights of the parties are identified, payment terms are identified, the contract has commercial substance and collectability of the consideration is probable. We determine the appropriate revenue recognition for our contracts with customers by analyzing the type, terms and conditions of each contract or arrangement with a customer. Disaggregation of Revenue We have a comprehensive offering of products, including technologies, built to customers’ specifications that are sold in niche markets throughout the world. We disaggregate our revenue from contracts with customers by reporting unit and geographical region for each of our segments as we believe it best depicts how the amount, nature, timing and uncertainty of our revenue and cash flows are affected by economic factors. Revenue was attributed to geographical region based on the location of the customer. The following tables present our revenue disaggregated by reporting unit and geographical region. Revenue by reporting unit for the three and nine months ended September 30, 2019 and 2018 was as follows: Three Months Ended September 30, Nine Months Ended September 30, 2019 2018 2019 2018 Energy $ 42,876 $ 42,403 $ 122,882 $ 121,941 Valves 30,764 30,972 89,955 85,831 Water 62,611 63,989 188,891 188,000 Pumps 84,936 81,605 260,321 245,006 Agriculture 19,674 20,244 67,523 73,568 Intersegment elimination (103 ) (94 ) (367 ) (211 ) Fluid & Metering Technologies 240,758 239,119 729,205 714,135 Scientific Fluidics & Optics 108,869 106,917 325,731 310,530 Sealing Solutions 51,389 48,787 148,326 154,123 Gast 32,699 33,574 104,007 92,989 Micropump 8,273 8,801 25,299 27,899 Material Processing Technologies 28,380 24,347 83,790 85,363 Intersegment elimination (622 ) (75 ) (1,305 ) (219 ) Health & Science Technologies 228,988 222,351 685,848 670,685 Fire & Safety 100,389 102,589 303,094 298,741 BAND-IT 26,087 25,437 81,757 79,892 Dispensing 28,067 33,806 89,894 106,672 Intersegment elimination (43 ) (414 ) (1,222 ) (553 ) Fire & Safety/Diversified Products 154,500 161,418 473,523 484,752 Total net sales $ 624,246 $ 622,888 $ 1,888,576 $ 1,869,572 Revenue by geographical region for the three and nine months ended September 30, 2019 and 2018 was as follows: Three Months Ended September 30, 2019 FMT HST FSDP IDEX U.S. $ 133,710 $ 103,891 $ 74,306 $ 311,907 North America, excluding U.S. 13,652 5,450 6,726 25,828 Europe 46,830 65,339 38,078 150,247 Asia 30,182 51,378 26,317 107,877 Other (1) 16,487 3,552 9,116 29,155 Intersegment elimination (103 ) (622 ) (43 ) (768 ) Total net sales $ 240,758 $ 228,988 $ 154,500 $ 624,246 Three Months Ended September 30, 2018 FMT HST FSDP IDEX U.S. $ 131,403 $ 99,474 $ 78,902 $ 309,779 North America, excluding U.S. (2) — — — — Europe 46,895 66,762 36,824 150,481 Asia 28,358 46,634 30,265 105,257 Other (3) 32,557 9,556 15,841 57,954 Intersegment elimination (94 ) (75 ) (414 ) (583 ) Total net sales $ 239,119 $ 222,351 $ 161,418 $ 622,888 Nine Months Ended September 30, 2019 FMT HST FSDP IDEX U.S. $ 411,645 $ 309,135 $ 227,881 $ 948,661 North America, excluding U.S. 41,337 15,839 19,124 76,300 Europe 134,403 200,509 124,953 459,865 Asia 94,452 149,939 76,621 321,012 Other (1) 47,735 11,731 26,166 85,632 Intersegment elimination (367 ) (1,305 ) (1,222 ) (2,894 ) Total net sales $ 729,205 $ 685,848 $ 473,523 $ 1,888,576 Nine Months Ended September 30, 2018 FMT HST FSDP IDEX U.S. $ 403,903 $ 290,826 $ 227,146 $ 921,875 North America, excluding U.S. (2) — — — — Europe 130,591 214,564 127,645 472,800 Asia 89,655 139,422 84,563 313,640 Other (3) 90,197 26,092 45,951 162,240 Intersegment elimination (211 ) (219 ) (553 ) (983 ) Total net sales $ 714,135 $ 670,685 $ 484,752 $ 1,869,572 (1) Other in 2019 includes: South America, Middle East, Australia and Africa. (2) Revenue from North America, excluding U.S. of $15,391 from FMT, $6,348 from HST and $7,544 from FSDP were included in Other for the three months ended September 30, 2018 . Revenue from North America, excluding U.S. of $44,610 from FMT, $13,705 from HST and $21,450 from FSDP were included in Other for the nine months ended September 30, 2018 . (3) Other in 2018 includes: North America, excluding U.S., South America, Middle East, Australia and Africa. Contract Balances The timing of revenue recognition, billings and cash collections can result in customer receivables, advance payments or billings in excess of revenue recognized. Customer receivables include both amounts billed and currently due from customers as well as unbilled amounts (contract assets) and are included in Receivables on our Condensed Consolidated Balance Sheets. Amounts are billed in accordance with contractual terms or as work progresses. Unbilled amounts arise when the timing of billing differs from the timing of revenue recognized, such as when contract provisions require specific milestones to be met before a customer can be billed. Unbilled amounts primarily relate to performance obligations satisfied over time when the cost-to-cost method is utilized and the revenue recognized exceeds the amount billed to the customer as there is not yet a right to payment in accordance with contractual terms. Unbilled amounts are recorded as a contract asset when the revenue associated with the contract is recognized prior to billing and derecognized when billed in accordance with the terms of the contract. Customer receivables are recorded at face amount less an allowance for doubtful accounts. The Company maintains an allowance for doubtful accounts for estimated losses as a result of customers’ inability to make required payments. Management evaluates the aging of customer receivable balances, the financial condition of its customers, historical trends and the time outstanding of specific balances to estimate the amount of customer receivables that may not be collected in the future and records the appropriate provision. The composition of Customer receivables was as follows: September 30, 2019 December 31, 2018 Billed receivables $ 307,180 $ 299,227 Unbilled receivables 10,877 14,492 Total customer receivables $ 318,057 $ 313,719 Advance payments and billings in excess of revenue recognized are included in Deferred revenue which is classified as current or noncurrent based on the timing of when we expect to recognize the revenue. The current portion is included in Accrued expenses and the noncurrent portion is included in Other noncurrent liabilities on our Condensed Consolidated Balance Sheets. Advance payments represent contract liabilities and are recorded when customers remit contractual cash payments in advance of us satisfying performance obligations under contractual arrangements, including those with performance obligations satisfied over time. We generally receive advance payments from customers related to maintenance services which we recognize ratably over the service term. Billings in excess of revenue recognized represent contract liabilities and primarily relate to performance obligations satisfied over time when the cost-to-cost method is utilized and revenue cannot yet be recognized as the Company has not completed the corresponding performance obligation. Contract liabilities are derecognized when revenue is recognized and the performance obligation is satisfied. The composition of Deferred revenue was as follows: September 30, 2019 December 31, 2018 Deferred revenue - current $ 9,823 $ 8,055 Deferred revenue - noncurrent 2,369 3,027 Total deferred revenue $ 12,192 $ 11,082 Performance Obligations A performance obligation is a promise in a contract to transfer a distinct product or service to the customer. A contract’s transaction price is allocated to each performance obligation and recognized as revenue when, or as, the performance obligation is satisfied. For our contracts that require complex design, manufacturing and installation activities, certain promises may not be separately identifiable from other promises in the contract and, therefore, not distinct. As a result, the entire contract is accounted for as a single performance obligation. For our contracts that include distinct products or services that are substantially the same and have the same pattern of transfer to the customer over time, they are recognized as a series of distinct products or services. Certain of our contracts have multiple performance obligations for which we allocate the transaction price to each performance obligation using an estimate of the standalone selling price of each distinct product or service in the contract. For product sales, each product sold to a customer generally represents a distinct performance obligation. In such cases, the observable standalone sales are used to determine the standalone selling price. In certain cases, we may be required to estimate standalone selling price using the expected cost plus margin approach, under which we forecast our expected costs of satisfying a performance obligation and then add an appropriate margin for that distinct product or service. Our performance obligations are satisfied at a point in time or over time as work progresses. Performance obligations are supported by contracts with customers that provide a framework for the nature of the distinct products or service or bundle of products and services. We define service revenue as revenue from activities that are not associated with the design, development or manufacture of a product or the delivery of a software license. Revenue from products and services transferred to customers at a point in time approximated 95% of total revenues in the three and nine months ended September 30, 2019 and 2018 . Revenue recognized at a point in time relates to the majority of our product sales. Revenue on these contracts is recognized when obligations under the terms of the contract with our customer are satisfied. Generally, this occurs with the transfer of control of the asset, which is in line with shipping terms. Revenue from products and services transferred to customers over time approximated 5% of total revenues in the three and nine months ended September 30, 2019 and 2018 . Revenue earned by certain business units within the Water, Energy, Material Processing Technologies (“MPT”) and Dispensing reporting units is recognized over time because control transfers continuously to our customers. When accounting for over-time contracts, we use an input measure to determine the extent of progress towards completion of the performance obligation. For certain business units within the Water, Energy and MPT reporting units, revenue is recognized over time as work is performed based on the relationship between actual costs incurred to date for each contract and the total estimated costs for such contract at completion of the performance obligation (i.e. the cost-to-cost method). We believe this measure of progress best depicts the transfer of control to the customer which occurs as we incur costs on our contracts. Incurred cost represents work performed, which corresponds with the transfer of control to the customer. Contract costs include labor, material and overhead. Contract estimates are based on various assumptions to project the outcome of future events. These assumptions include labor productivity and availability; the complexity of the work to be performed; the cost and availability of materials; the performance of subcontractors; and the availability and timing of funding from the customer. Revenues, including estimated fees or profits, are recorded proportionally as costs are incurred. For certain business units within the Energy and Dispensing reporting units, revenue is recognized ratably over the contract term. As a significant change in one or more of these estimates could affect the profitability of our contracts, we review and update our estimates regularly. Due to uncertainties inherent in the estimation process, it is reasonably possible that completion costs, including those arising from contract penalty provisions and final contract settlements, will be revised. Such revisions to costs and income are recognized in the period in which the revisions are determined as a cumulative catch-up adjustment. The impact of the adjustment on profit recorded to date on a contract is recognized in the period the adjustment is identified. Revenue and profit in future periods of contract performance are recognized using the adjusted estimate. If at any time the estimate of contract profitability indicates an anticipated loss on the contract, we recognize provisions for estimated losses on uncompleted contracts in the period in which such losses are determined. The Company records allowances for discounts and product returns at the time of sale as a reduction of revenue as such allowances can be reliably estimated based on historical experience and known trends. The Company also offers product warranties (primarily assurance-type) and accrues its estimated exposure for warranty claims at the time of sale based upon the length of the warranty period, warranty costs incurred and any other related information known to the Company.

Earnings Per Common Share

Earnings Per Common Share	9 Months Ended
	Sep. 30, 2019
Earnings Per Share [Abstract]
Earnings Per Common Share	Earnings Per Common Share Earnings per common share (“EPS”) is 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, concludes 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, EPS was computed using the two-class method prescribed by ASC 260. Basic weighted average shares outstanding reconciles to diluted weighted average shares outstanding as follows: Three Months Ended September 30, Nine Months Ended September 30, 2019 2018 2019 2018 Basic weighted average common shares outstanding 75,698 76,562 75,532 76,507 Dilutive effect of stock options, restricted stock and performance share units 879 1,147 883 1,210 Diluted weighted average common shares outstanding 76,577 77,709 76,415 77,717 Options to purchase approximately 0.3 million and 0.3 million shares of common stock for the three months ended September 30, 2019 and 2018 , respectively, and 0.6 million and 0.3 million shares of common stock for the nine months ended September 30, 2019 and 2018 , respectively, were not included in the computation of diluted EPS because the effect of their inclusion would have been antidilutive.

Inventories

Inventories	9 Months Ended
	Sep. 30, 2019
Inventory Disclosure [Abstract]
Inventories	Inventories The components of inventories as of September 30, 2019 and December 31, 2018 were: September 30, December 31, Raw materials and component parts $ 189,361 $ 178,805 Work in process 32,725 37,495 Finished goods 81,408 63,695 Total inventories $ 303,494 $ 279,995 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	9 Months Ended
	Sep. 30, 2019
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Intangible Assets	Goodwill and Intangible Assets The changes in the carrying amount of goodwill for the nine months ended September 30, 2019 , by reportable business segment, were as follows: FMT HST FSDP IDEX Goodwill $ 601,762 $ 895,177 $ 401,647 $ 1,898,586 Accumulated goodwill impairment losses (20,721 ) (149,820 ) (30,090 ) (200,631 ) Balance at December 31, 2018 581,041 745,357 371,557 1,697,955 Foreign currency translation (4,797 ) (10,083 ) (6,220 ) (21,100 ) Acquisitions — 97,352 — 97,352 Acquisition adjustments — 183 — 183 Balance at September 30, 2019 $ 576,244 $ 832,809 $ 365,337 $ 1,774,390 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 nine months of 2019 , 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, 2018 , 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 asset at September 30, 2019 and December 31, 2018 : At September 30, 2019 At December 31, 2018 Gross Carrying Amount Accumulated Amortization Net Weighted Average Life Gross Carrying Amount Accumulated Amortization Net Amortized intangible assets: Patents $ 6,583 $ (5,135 ) $ 1,448 12 $ 6,468 $ (4,693 ) $ 1,775 Trade names 120,744 (62,299 ) 58,445 16 115,899 (57,227 ) 58,672 Customer relationships 273,413 (92,692 ) 180,721 14 256,202 (85,652 ) 170,550 Unpatented technology 99,967 (40,713 ) 59,254 12 96,922 (35,685 ) 61,237 Other 700 (560 ) 140 10 700 (507 ) 193 Total amortized intangible assets 501,407 (201,399 ) 300,008 476,191 (183,764 ) 292,427 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 $ 592,307 $ (201,399 ) $ 390,908 $ 567,091 $ (183,764 ) $ 383,327 The Banjo trade name and the Akron Brass trade name are indefinite-lived intangible assets which are tested for impairment on an annual basis in accordance with ASC 350 or more frequently if events or changes in circumstances indicate that the assets might be impaired. In the first nine months of 2019 , there were no events or circumstances that would have required an interim impairment test on these indefinite-lived intangible assets. The Company uses the relief-from-royalty method, a form of the income approach, to determine the fair value of these trade names. The relief-from-royalty method is dependent on a number of significant management assumptions, including estimates of revenues, royalty rates and discount rates. In the second quarter of 2019, the Company began to evaluate strategic alternatives for one of its businesses in the HST segment. Prior to making a final decision on the options that were presented for this business, the business was informed in the third quarter of 2019 of the loss of its largest customer. As a result, the Company accelerated its restructuring activities for this business and a decision was made to wind down the business over time. This event required an interim impairment test be performed on certain of its definite-lived intangible assets, which resulted in an impairment charge of $7.1 million , consisting of $6.1 million related to customer relationships and $1.0 million related to unpatented technology. This charge was recorded as Restructuring expense in the Condensed Consolidated Statements of Operations. See Note 14 for further discussion. Amortization of intangible assets was $9.7 million and $27.7 million for the three and nine months ended September 30, 2019 , respectively. Amortization of intangible assets was $8.8 million and $29.5 million for the three and nine months ended September 30, 2018 , respectively. Based on the intangible asset balances as of September 30, 2019 , amortization expense is expected to approximate $9.5 million for the remaining three months of 2019 , $37.6 million in 2020 , $36.3 million in 2021 , $34.7 million in 2022 and $31.8 million in 2023 .

Accrued Expenses

Accrued Expenses	9 Months Ended
	Sep. 30, 2019
Payables and Accruals [Abstract]
Accrued Expenses	Accrued Expenses The components of accrued expenses as of September 30, 2019 and December 31, 2018 were: September 30, December 31, Payroll and related items $ 72,800 $ 78,944 Management incentive compensation 15,052 25,321 Income taxes payable 16,108 23,844 Insurance 8,843 10,422 Warranty 5,131 5,303 Deferred revenue 9,823 8,055 Lease liability 13,919 — Restructuring 3,280 6,170 Liability for uncertain tax positions 830 980 Accrued interest 10,439 1,759 Contingent consideration for acquisition 3,375 — Other 25,556 26,738 Total accrued expenses $ 185,156 $ 187,536

Other Noncurrent Liabilities

Other Noncurrent Liabilities	9 Months Ended
	Sep. 30, 2019
Other Liabilities Disclosure [Abstract]
Other Noncurrent Liabilities	Other Noncurrent Liabilities The components of other noncurrent liabilities as of September 30, 2019 and December 31, 2018 were: September 30, December 31, Pension and retiree medical obligations $ 72,731 $ 80,667 Transition tax payable 17,127 17,127 Liability for uncertain tax positions 3,286 3,183 Deferred revenue 2,369 3,027 Liability for construction of new leased facility — 11,616 Lease liability 53,284 — Contingent consideration for acquisition — 3,375 Other 20,630 19,219 Total other noncurrent liabilities $ 169,427 $ 138,214

Borrowings

Borrowings	9 Months Ended
	Sep. 30, 2019
Debt Disclosure [Abstract]
Borrowings	Borrowings Borrowings at September 30, 2019 and December 31, 2018 consisted of the following: September 30, December 31, Revolving Facility $ — $ — 4.50% Senior Notes, due December 2020 300,000 300,000 4.20% Senior Notes, due December 2021 350,000 350,000 3.20% Senior Notes, due June 2023 100,000 100,000 3.37% Senior Notes, due June 2025 100,000 100,000 Other borrowings 738 1,078 Total borrowings 850,738 851,078 Less current portion 417 483 Less deferred debt issuance costs 1,135 1,593 Less unaccreted debt discount 458 667 Total long-term borrowings $ 848,728 $ 848,335 On June 13, 2016, the Company completed a private placement of a $100 million aggregate principal amount of 3.20% Senior Notes due June 13, 2023 and a $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 the 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 the 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 a payment event of default, any holder of the Notes affected thereby may declare all of the Notes held by it due and payable immediately. In the case of any other event of default, a majority of the holders of the Notes may declare all of the Notes to be due and payable immediately. On May 31, 2019, the Company entered into a credit agreement (the “Credit Agreement”) along with certain of its subsidiaries, as borrowers (the “Borrowers”), Bank of America, N.A., as administrative agent, swing line lender and an issuer of letters of credit, with other agents party thereto. The Credit Agreement replaces the Company’s existing five-year, $700 million credit agreement, dated as of June 23, 2015, which was due to expire in June 2020. Terms and fees of the 2019 Credit Agreement are essentially the same as the 2015 credit agreement except for certain fees and interest rate pricing that are more favorable to the Company. The Credit Agreement consists of a revolving credit facility (the “Revolving Facility”) in an aggregate principal amount of $800 million with a final maturity date of May 30, 2024 . The maturity date may be extended under certain conditions for an additional one -year term. Up to $75 million of the Revolving Facility under the Credit Agreement 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 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 $400 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 under the Credit Agreement. 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 better of the Company’s senior, unsecured, long-term debt rating or the Company’s applicable leverage ratio. Interest is payable (a) in the case of base rate loans, quarterly, and (b) in the case of LIBOR rate loans, on the last day of the applicable interest period selected, or every three months from the effective date of such interest period for interest periods exceeding three months. Voluntary prepayments of any loans and voluntary reductions of the unutilized portion of the commitments under the Credit Agreement are permissible without penalty, subject to break funding payments and minimum notice and minimum reduction amount requirements. The Credit Agreement contains affirmative and negative covenants usual and customary for such senior unsecured credit agreements, including an interest coverage ratio test and a leverage ratio test, in each case tested quarterly and, in the case of the leverage ratio, with an option to increase the ratio for 12 months in connection with certain acquisitions. The negative covenants include restrictions on the Company on granting liens, entering into transactions resulting in fundamental changes (such as mergers or sales of all or substantially all of the assets of the Company), making certain subsidiary dividends or distributions, engaging in materially different lines of businesses and allowing subsidiaries to incur certain additional debt. The Credit Agreement also contains customary events of default (subject to grace periods, as appropriate). At September 30, 2019 , there was no balance outstanding under the Revolving Facility and $10.1 million of outstanding letters of credit, resulting in a net available borrowing capacity under the Revolving Facility at September 30, 2019 of approximately $789.9 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 3.00 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. In the case of the leverage ratio, there is an option to increase the ratio to 4.00 for 12 months in connection with certain acquisitions. At September 30, 2019 , 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	9 Months Ended
	Sep. 30, 2019
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 types of cash flow hedges the Company enters into include foreign currency exchange contracts designed to minimize the earnings impact on certain intercompany loans as well as interest rate exchange agreements designed to reduce the impact of interest rate changes on future interest expense that effectively convert a portion of floating-rate debt to fixed-rate debt. The effective portion of gains or losses on interest rate exchange agreements is reported in accumulated other comprehensive income (loss) in shareholders’ equity and reclassified into net income in the same period or periods in which the hedged transaction affects net income. 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 in net income during the period of change. See Note 15 for the amount of loss reclassified into net income for interest rate contracts for the three and nine months ended September 30, 2019 and 2018. As of September 30, 2019 , the Company did not have any interest rate contracts outstanding. In 2010 and 2011, the Company entered into two separate forward starting interest rate exchange agreements 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 terms of the respective debt instruments. Approximately $6.2 million of the pre-tax amount included in Accumulated other comprehensive income (loss) in shareholders’ equity at September 30, 2019 will be recognized in net income over the next 12 months as the underlying hedged transactions are realized. At March 31, 2018, the Company had outstanding foreign currency exchange contracts with a combined notional value of €180 million that were not designated as hedges for accounting purposes and, as a result, the change in the fair value of these foreign currency exchange contracts and the corresponding foreign currency gain or loss on the revaluation of the intercompany loans were both recorded through earnings within Other (income) expense - net in the Condensed Consolidated Statements of Operations each period as incurred. In April 2018, the Company settled its outstanding foreign currency exchange contracts in conjunction with its repayment of the underlying intercompany loans and did not extend these foreign currency exchange contracts. Along with the repayment of the intercompany loans, the Company was required to make a capital contribution to one of its subsidiaries, which resulted in a $2.2 million stamp duty in Switzerland which was recorded within Selling, general and administrative expenses in the Condensed Consolidated Statements of Operations. As a result of the foreign currency exchange contracts being settled in April 2018, the Company did no t record a gain or loss on the foreign currency exchange contracts during the three months ended September 30, 2018. The Company recorded a gain of $0.9 million during the nine months ended September 30, 2018. The foreign currency exchange gains were recorded within Other (income) expense - net in the Condensed Consolidated Statements of Operations. The Company did no t record a gain or loss on the revaluation of intercompany loans during the three months ended September 30, 2018 due to these loans being settled in April 2018. The Company did record a foreign currency transaction loss of $0.9 million during the nine months ended September 30, 2018. The losses on the revaluation of the intercompany loans were recorded within Other (income) expense - net in the Condensed Consolidated Statements of Operations. For the nine months ended September 30, 2018, the Company received $6.6 million in settlement of the foreign currency exchange 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.

Fair Value Measurements

Fair Value Measurements	9 Months Ended
	Sep. 30, 2019
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 the 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 (liabilities) at fair value on a recurring basis in the balance sheets at September 30, 2019 and December 31, 2018 : Basis of Fair Value Measurements Balance at September 30, 2019 Level 1 Level 2 Level 3 Available for sale securities $ 9,702 $ 9,702 $ — $ — Contingent consideration 3,375 — — 3,375 Basis of Fair Value Measurements Balance at December 31, 2018 Level 1 Level 2 Level 3 Available for sale securities $ 7,598 $ 7,598 $ — $ — Contingent consideration 3,375 — — 3,375 There were no transfers of assets or liabilities between Level 1 and Level 2 during the three and nine months ended September 30, 2019 or the year ended December 31, 2018 . The Company utilized a Monte Carlo Simulation to determine the fair value of the contingent consideration associated with the acquisition of FLI as of the acquisition date. The $3.4 million represents management’s best estimate of the liability, based on a range of outcomes of FLI’s two-year operating results, from August 1, 2018 to July 31, 2020, and is expected to be paid during the third quarter of 2020. As of September 30, 2019 , the $3.4 million of contingent consideration is included in Accrued expenses on the Condensed Consolidated Balance Sheets. The carrying values of our cash and cash equivalents, accounts receivable, accounts payable and accrued expenses approximate their fair values because of the short term nature of these instruments. At September 30, 2019 , the fair value of the outstanding indebtedness under our 3.2% Senior Notes, 3.37% Senior Notes, 4.5% Senior Notes, 4.2% Senior Notes and other borrowings based on quoted market prices and current market rates for debt with similar credit risk and maturity was approximately $875.9 million compared to the carrying value of $850.3 million . At December 31, 2018, the fair value of the outstanding indebtedness under our 3.2% Senior Notes, 3.37% Senior Notes, 4.5% Senior Notes, 4.2% Senior Notes and other borrowings based on quoted market prices and current market rates for debt with similar credit risk and maturity was approximately $851.5 million compared to the carrying value of $850.4 million . These fair value measurements are classified as Level 2 within the fair value hierarchy since they are 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.

Leases

Leases	9 Months Ended
	Sep. 30, 2019
Lessee Disclosure [Abstract]
Leases	Leases The Company leases certain office facilities, warehouses, manufacturing plants, equipment (which includes both office and plant equipment) and vehicles under operating leases. Leases with an initial term of 12 months or less are not recorded on the balance sheet; the Company recognizes lease expense for these leases on a straight-line basis over the lease term. Certain leases include one or more options to renew. The exercise of lease renewal options is at the Company’s sole discretion. There are currently no renewal periods included in any of the leases’ respective lease terms as they are not reasonably certain of being exercised. The Company does not have any material purchase options. Certain of our lease agreements have rental payments that are adjusted periodically for inflation or that are based on usage. Our lease agreements do not contain any material residual value guarantees or material restrictive covenants. Supplemental balance sheet information related to leases as of September 30, 2019 was as follows: Balance Sheet Caption September 30, 2019 Operating leases: Building right-of-use assets - net Other noncurrent assets $ 58,183 Equipment right-of-use assets - net Other noncurrent assets 6,677 Total right-of-use assets - net $ 64,860 Operating leases: Current lease liabilities Accrued expenses $ 13,919 Noncurrent lease liabilities Other noncurrent liabilities 53,284 Total lease liabilities $ 67,203 In the second quarter of 2019, the Company began to evaluate strategic alternatives for one of its businesses in the HST segment. Prior to making a final decision on the options that were presented for this business, the business was informed in the third quarter of 2019 of the loss of its largest customer. As a result, the Company accelerated its restructuring activities for this business and a decision was made to wind down the business over time. This event required an interim impairment test be performed on its long-lived assets, which resulted in an impairment charge of $0.6 million related to its building right-of-use asset. This charge was recorded as Restructuring expense in the Condensed Consolidated Statements of Operations. See Note 14 for further discussion. As part of the adoption of the new lease standard, the Company derecognized its liability for the construction of a new leased facility that was recorded in Other noncurrent liabilities on the Condensed Consolidated Balance Sheets and recorded it as a right of use asset in Other noncurrent assets on the Condensed Consolidated Balance Sheets with a corresponding lease liability in Accrued expenses and Other noncurrent liabilities on the Condensed Consolidated Balance Sheets. The components of lease cost for the three and nine months ended September 30, 2019 were as follows: Three Months Ended September 30, 2019 Nine Months Ended September 30, 2019 Operating lease cost (1) $ 4,817 $ 16,387 Variable lease cost 436 1,654 Total lease expense $ 5,253 $ 18,041 (1) Includes short-term leases, which are immaterial. Supplemental cash flow information related to leases for the nine months ended September 30, 2019 was as follows: Nine Months Ended September 30, 2019 Cash paid for amounts included in the measurement of operating lease liabilities $ 15,813 Right-of-use assets obtained in exchange for new operating lease liabilities 6,899 Other supplemental information related to leases as of September 30, 2019 was as follows: Lease Term and Discount Rate September 30, 2019 Weighted-average remaining lease term (years): Operating leases - building and equipment 7.97 Operating leases - vehicles 2.23 Weighted-average discount rate: Operating leases - building and equipment 4.02 % Operating leases - vehicles 3.09 % The Company uses the implicit rate to determine the present value of the lease payments. If the implicit rate is not defined in the lease, the Company uses its incremental borrowing rate to determine the present value of the lease payments. The Company used either the implicit rate or the incremental borrowing rate based on the information available at the transition date to determine the present value of the lease payments as of January 1, 2019. Total lease liabilities at September 30, 2019 have scheduled maturities as follows: Maturity of Lease Liabilities Operating Leases (1) 2019 (excluding the nine months ended September 30, 2019) $ 4,356 2020 15,324 2021 12,373 2022 9,373 2023 7,083 Thereafter 31,199 Total lease payments 79,708 Less: Imputed interest (12,505 ) Present value of lease liabilities $ 67,203 (1) Excludes $31.3 million of legally binding minimum lease payments for leases signed but not yet commenced. Total lease liabilities at December 31, 2018 had scheduled maturities as follows: Maturity of Lease Liabilities Operating Leases 2019 $ 17,509 2020 13,162 2021 10,516 2022 7,979 2023 6,535 Thereafter 29,658 Total lease payments $ 85,359

Restructuring

Restructuring	9 Months Ended
	Sep. 30, 2019
Restructuring and Related Activities [Abstract]
Restructuring	Restructuring During the year ended December 31, 2018 and the three and nine months ended September 30, 2019 , the Company recorded accruals for restructuring costs incurred as part of restructuring initiatives that supported the implementation of key strategic efforts designed to facilitate long-term, sustainable growth through cost reduction actions, consisting of employee reductions and facility rationalization. The restructuring costs included severance benefits, exit costs and asset impairments which were included in Restructuring expenses in the Condensed Consolidated Statements of Operations. 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 lease exit and contract termination costs. In the second quarter of 2019, the Company began to evaluate strategic alternatives for one of its businesses in the HST segment. Prior to making a final decision on the options that were presented for this business, the business was informed in the third quarter of 2019 of the loss of its largest customer. As a result, the Company accelerated its restructuring activities for this business and a decision was made to wind down the business over time. This event required an interim impairment test be performed on the long-lived tangible and intangible assets of the business, which resulted in an impairment charge of $9.7 million , consisting of $6.1 million related to a customer relationships intangible asset, $1.0 million related to an unpatented technology intangible asset, $2.0 million related to property, plant and equipment and $0.6 million related to a building right-of-use asset. This charge was recorded as Restructuring expense in the Condensed Consolidated Statements of Operations. Pre-tax restructuring expenses by segment for the three and nine months ended September 30, 2019 were as follows: Three Months Ended September 30, 2019 Severance Costs Exit Costs Asset Impairment Total Fluid & Metering Technologies $ — $ — $ — $ — Health & Science Technologies 1,164 352 9,680 11,196 Fire & Safety/Diversified Products 104 — — 104 Corporate/Other 656 — — 656 Total restructuring costs $ 1,924 $ 352 $ 9,680 $ 11,956 Nine Months Ended September 30, 2019 Severance Costs Exit Costs Asset Impairment Total Fluid & Metering Technologies $ 930 $ — $ — $ 930 Health & Science Technologies 1,210 636 9,680 11,526 Fire & Safety/Diversified Products 923 — — 923 Corporate/Other 703 — — 703 Total restructuring costs $ 3,766 $ 636 $ 9,680 $ 14,082 Restructuring accruals of $3.3 million and $6.2 million at September 30, 2019 and December 31, 2018 , respectively, are recorded in Accrued expenses on the Condensed 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 nine months ended September 30, 2019 are as follows: Restructuring Balance at January 1, 2019 $ 6,170 Restructuring expenses 4,402 Payments, utilization and other (7,292 ) Balance at September 30, 2019 $ 3,280

Other Comprehensive Income (Los

Other Comprehensive Income (Loss)	9 Months Ended
	Sep. 30, 2019
Equity [Abstract]
Other Comprehensive Income (Loss)	Other Comprehensive Income (Loss) The components of Other comprehensive income (loss) are as follows: Three Months Ended September 30, 2019 Three Months Ended September 30, 2018 Pre-tax Tax Net of tax Pre-tax Tax Net of tax Cumulative translation adjustment $ (37,825 ) $ — $ (37,825 ) $ 9,164 $ — $ 9,164 Pension and other postretirement adjustments 2,188 (525 ) 1,663 1,725 (455 ) 1,270 Reclassification adjustments for derivatives 1,566 (356 ) 1,210 1,610 (366 ) 1,244 Total other comprehensive income (loss) $ (34,071 ) $ (881 ) $ (34,952 ) $ 12,499 $ (821 ) $ 11,678 Nine Months Ended September 30, 2019 Nine Months Ended September 30, 2018 Pre-tax Tax Net of tax Pre-tax Tax Net of tax Cumulative translation adjustment $ (38,478 ) $ — $ (38,478 ) $ (25,903 ) $ — $ (25,903 ) Pension and other postretirement adjustments 5,579 (1,398 ) 4,181 5,396 (1,417 ) 3,979 Reclassification adjustments for derivatives 4,737 (1,076 ) 3,661 4,869 (1,105 ) 3,764 Total other comprehensive income (loss) $ (28,162 ) $ (2,474 ) $ (30,636 ) $ (15,638 ) $ (2,522 ) $ (18,160 ) The following table summarizes the amounts reclassified from accumulated other comprehensive income (loss) to net income during the three and nine months ended September 30, 2019 and 2018 : Three Months Ended September 30, Nine Months Ended September 30, 2019 2018 2019 2018 Income Statement Caption Pension and other postretirement plans: Amortization of net (gain) loss $ 2,188 $ 1,725 $ 5,579 $ 5,396 Other (income) expense - net Total before tax 2,188 1,725 5,579 5,396 Provision for income taxes (525 ) (455 ) (1,398 ) (1,417 ) Total net of tax $ 1,663 $ 1,270 $ 4,181 $ 3,979 Derivatives: Reclassification adjustments $ 1,566 $ 1,610 $ 4,737 $ 4,869 Interest expense Total before tax 1,566 1,610 4,737 4,869 Provision for income taxes (356 ) (366 ) (1,076 ) (1,105 ) Total net of tax $ 1,210 $ 1,244 $ 3,661 $ 3,764 The Company recognizes the service cost component in both Selling, general and administrative expenses and Cost of sales in the Condensed Consolidated Statements of Operations depending on the functional area of the underlying employees included in the plans.

Common and Preferred Stock

Common and Preferred Stock	9 Months Ended
	Sep. 30, 2019
Equity [Abstract]
Common and Preferred Stock	Common and Preferred Stock On December 1, 2015 , the Company’s Board of Directors approved an increase of $300.0 million in the authorized level of repurchases of common stock. This followed the prior Board of Directors approved repurchase authorization of $400.0 million that was announced by the Company on November 6, 2014. These authorizations have no expiration date. Repurchases under the program will be funded with future cash flow generation or borrowings available under the Revolving Facility. During the nine months ended September 30, 2019 , the Company repurchased a total of 389 thousand shares at a cost of $54.7 million . During the nine months ended September 30, 2018 , the Company repurchased a total of 357 thousand shares at a cost of $51.7 million , of which $1.0 million was settled in October 2018. As of September 30, 2019 , the amount of share repurchase authorization remaining was $322.3 million . At September 30, 2019 and December 31, 2018 , 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 September 30, 2019 or December 31, 2018 .

Share-Based Compensation

Share-Based Compensation	9 Months Ended
	Sep. 30, 2019
Share-based Payment Arrangement [Abstract]
Share-Based Compensation	Share-Based Compensation The Company typically grants equity awards annually at its regularly scheduled first quarter meeting of the Board of Directors based on their recommendation from the Compensation Committee. Stock Options Stock options generally vest ratably over four years . 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 September 30, Nine Months Ended September 30, 2019 2018 2019 2018 Weighted average fair value of grants $27.72 $40.83 $35.15 $38.14 Dividend yield 1.27% 1.14% 1.18% 1.07% Volatility 22.33% 27.81% 24.78% 28.47% Risk-free interest rate 1.75% - 1.77% 2.47% - 3.07% 2.53% - 3.04% 2.02% - 3.17% Expected life (in years) 4.65 5.81 5.87 5.83 Total compensation cost for stock options is as follows: Three Months Ended September 30, Nine Months Ended September 30, 2019 2018 2019 2018 Cost of goods sold $ 74 $ 91 $ 356 $ 388 Selling, general and administrative expenses 2,137 1,929 6,663 6,334 Total expense before income taxes 2,211 2,020 7,019 6,722 Income tax benefit (288 ) (385 ) (940 ) (1,219 ) Total expense after income taxes $ 1,923 $ 1,635 $ 6,079 $ 5,503 A summary of the Company’s stock option activity as of September 30, 2019 and changes during the nine months ended September 30, 2019 are presented in the following table: Stock Options Shares Weighted Average Price Weighted-Average Remaining Contractual Term Aggregate Intrinsic Value Outstanding at January 1, 2019 1,714,003 $ 85.08 6.70 $ 74,191,783 Granted 335,095 144.91 Exercised (513,317 ) 69.34 Forfeited (90,067 ) 114.85 Outstanding at September 30, 2019 1,445,714 $ 102.69 7.13 $ 88,375,713 Vested and expected to vest as of September 30, 2019 1,346,871 $ 100.97 7.04 $ 84,725,335 Exercisable at September 30, 2019 649,766 $ 78.22 5.69 $ 55,657,413 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 September 30, 2019 and changes during the nine months ended September 30, 2019 are presented as follows: Restricted Stock Shares Weighted-Average Unvested at January 1, 2019 148,041 $ 101.50 Granted 41,780 143.13 Vested (50,892 ) 80.51 Forfeited (12,390 ) 122.52 Unvested at September 30, 2019 126,539 $ 122.69 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 September 30, Nine Months Ended September 30, 2019 2018 2019 2018 Cost of goods sold $ (10 ) $ 77 $ 192 $ 316 Selling, general and administrative expenses 1,094 902 3,419 3,155 Total expense before income taxes 1,084 979 3,611 3,471 Income tax benefit (204 ) (177 ) (684 ) (620 ) Total expense after income taxes $ 880 $ 802 $ 2,927 $ 2,851 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 . Cash-settled restricted stock awards are recorded at fair value on a quarterly basis using the market price of the Company’s stock on the last day of the quarter. A summary of the Company’s unvested cash-settled restricted stock activity as of September 30, 2019 and changes during the nine months ended September 30, 2019 are presented in the following table: Cash-Settled Restricted Stock Shares Weighted-Average Unvested at January 1, 2019 88,225 $ 126.26 Granted 25,950 143.14 Vested (28,150 ) 144.27 Forfeited (9,040 ) 159.68 Unvested at September 30, 2019 76,985 $ 172.08 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 September 30, Nine Months Ended September 30, 2019 2018 2019 2018 Cost of goods sold $ 118 $ 381 $ 954 $ 896 Selling, general and administrative expenses 435 1,064 3,132 2,776 Total expense before income taxes 553 1,445 4,086 3,672 Income tax benefit (67 ) (158 ) (413 ) (368 ) Total expense after income taxes $ 486 $ 1,287 $ 3,673 $ 3,304 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. Nine Months Ended September 30, 2019 2018 Weighted average fair value of grants $207.26 $216.59 Dividend yield —% —% Volatility 19.11% 17.42% Risk-free interest rate 2.49% 2.40% Expected life (in years) 2.83 2.85 A summary of the Company’s performance share unit activity as of September 30, 2019 and changes during the nine months ended September 30, 2019 are presented in the following table: Performance Share Units Shares Weighted-Average Unvested at January 1, 2019 111,155 $ 142.42 Granted 56,860 207.26 Vested — — Forfeited (12,895 ) 125.03 Unvested at September 30, 2019 155,120 $ 178.97 On December 31, 2018 , 69,995 performance share units vested. Based on the Company’s relative total shareholder return rank during the three year period ended December 31, 2018 , the Company achieved a 250% payout factor and issued 174,994 common shares in February 2019 . Total compensation cost for performance share units is as follows: Three Months Ended September 30, Nine Months Ended September 30, 2019 2018 2019 2018 Cost of goods sold $ — $ — $ — $ — Selling, general and administrative expenses 2,359 2,118 5,904 5,949 Total expense before income taxes 2,359 2,118 5,904 5,949 Income tax benefit (196 ) (418 ) (447 ) (1,123 ) Total expense after income taxes $ 2,163 $ 1,700 $ 5,457 $ 4,826 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 Condensed Consolidated Statements of Operations is consistent with classification of cash compensation for the same employees. As of September 30, 2019 , there was $15.2 million of total unrecognized compensation cost related to stock options that is expected to be recognized over a weighted-average period of 1.4 years, $6.2 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, $4.3 million of total unrecognized compensation cost related to cash-settled restricted shares that is expected to be recognized over a weighted-average period of 1.0 years and $10.8 million of total unrecognized compensation cost related to performance share units that is expected to be recognized over a weighted-average period of 1.0 years.

Retirement Benefits

Retirement Benefits	9 Months Ended
	Sep. 30, 2019
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. Pension Benefits Three Months Ended September 30, 2019 2018 U.S. Non-U.S. U.S. Non-U.S. Service cost $ 484 $ 462 $ 156 $ 520 Interest cost 764 355 669 341 Expected return on plan assets (801 ) (258 ) (991 ) (276 ) Settlement loss recognized 486 — — — Net amortization 487 276 664 312 Net periodic benefit cost $ 1,420 $ 835 $ 498 $ 897 Pension Benefits Nine Months Ended September 30, 2019 2018 U.S. Non-U.S. U.S. Non-U.S. Service cost $ 901 $ 1,386 $ 665 $ 1,592 Interest cost 2,292 1,081 1,975 1,053 Expected return on plan assets (2,403 ) (784 ) (2,957 ) (848 ) Settlement loss recognized 486 — — — Net amortization 1,460 840 2,034 964 Net periodic benefit cost $ 2,736 $ 2,523 $ 1,717 $ 2,761 Other Postretirement Benefits Three Months Ended September 30, Nine Months Ended September 30, 2019 2018 2019 2018 Service cost $ 141 $ 167 $ 421 $ 502 Interest cost 212 202 636 608 Net amortization (159 ) (185 ) (476 ) (553 ) Net periodic benefit cost $ 194 $ 184 $ 581 $ 557 The Company previously disclosed in its financial statements for the year ended December 31, 2018 , that it expected to contribute approximately $0.6 million to its defined benefit plans and $1.1 million to its other postretirement benefit plans in 2019 . During the first nine months of 2019 , the Company contributed a total of $0.1 million to fund these plans. Effective September 30, 2019, the IDEX Corporation Retirement Plan (“Plan”) was amended to freeze the accrual of retirement benefits for all participants. This action impacted fewer than 60 participants, as the Plan had been closed to new entrants and frozen as of December 31, 2005 for all but certain older, longer service participants. The overall financial impact of the freeze was to reduce the Plan liabilities by approximately $1.2 million . In addition, the Company recorded a settlement charge of $0.5 million

Legal Proceedings

Legal Proceedings	9 Months Ended
	Sep. 30, 2019
Commitments and Contingencies Disclosure [Abstract]
Legal Proceedings	Legal Proceedings The Company and certain of its subsidiaries are involved in pending and threatened legal, regulatory and other proceedings arising in the ordinary course of business. These proceedings may pertain to matters such as product liability or contract disputes, and may also involve governmental inquiries, inspections, audits or investigations relating to issues such as tax matters, intellectual property, environmental, health and safety issues, governmental regulations, employment and other matters. Although the results of such legal proceedings cannot be predicted with certainty, the Company believes that the ultimate disposition of these matters will not have a material adverse effect, individually or in the aggregate, on the Company’s business, financial condition, results of operations or cash flows.

Income Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2019
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The Company’s provision for income taxes is based upon estimated annual tax rates for the year applied to federal, state and foreign income. The provision for income taxes decreased to $24.0 million for the three months ended September 30, 2019 from $26.9 million during the same period in 2018 . The effective tax rate decreased to 18.6% for the three months ended September 30, 2019 compared 20.2% to during the same period in 2018 due to a decrease in the impact of Global Intangible Low-Taxed Income (“GILTI”) related to U.S. Treasury regulations as well as the mix of global pre-tax income among jurisdictions. The provision for income taxes decreased to $82.2 million for the nine months ended September 30, 2019 from $87.7 million during the same period in 2018 . The effective tax rate decreased to 20.0% for the nine months ended September 30, 2019 compared to 21.9% during the same period in 2018 due to a decrease in the impact of GILTI related to U.S. Treasury regulations, the excess tax benefits related to share-based compensation 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 $0.8 million .

Basis of Presentation and Sig_2

Basis of Presentation and Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2019
Accounting Policies [Abstract]
Recently Adopted Accounting Standards	Recently Adopted Accounting Standards In February 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“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). This standard introduced a new lessee model that requires most leases to be recorded on the balance sheet and eliminates the required use of bright line tests for determining lease classification from U.S. GAAP. In July 2018, the FASB issued ASU 2018-10, Codification Improvements to Topic 842 , Leases and ASU 2018-11, Leases (Topic 842): Targeted Improvements, which clarified ASU 2016-02 and had the same effective date as the original standard. ASU 2018-11 included an option to use the effective date of ASU 2016-02 as the date of initial application of transition as well as an option not to restate comparative periods in transition. In March 2019, the FASB issued ASU 2019-01, Leases (Topic 842): Codification Improvements, which also clarified ASU 2016-02 and is effective for fiscal years beginning after December 15, 2019 and interim periods within those fiscal years. The Company adopted this standard on January 1, 2019 using the optional transition method provided by the FASB in ASU 2018-11. As we did not restate comparative periods, the adoption had no impact on our previously reported results. We elected to use the practical expedient that allowed us not to reassess: (1) whether any expired or existing contracts are or contain leases, (2) the lease classification for any expired or existing leases and (3) initial direct costs for any expired or existing leases and the practical expedient that allows us to treat the lease and non-lease components as a single lease component for all asset classes. We also elected to account for short-term leases in accordance with Accounting Standards Codification (“ASC”) 842-20-25-2. The adoption of this standard had a material impact on our condensed consolidated balance sheet due to the recognition of right of use assets and lease liabilities. Upon adoption, we recognized right of use assets and lease liabilities of approximately $68 million that reflected the present value of future lease payments. The adoption of this standard did not have a material impact on our condensed consolidated results of operations or cash flows. See Note 13 for further information.

Acquisitions and Divestitures (

Acquisitions and Divestitures (Tables)	9 Months Ended
	Sep. 30, 2019
Business Combinations and Dispositions [Abstract]
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed	The preliminary allocation of the acquisition costs to the assets acquired and liabilities assumed, based on their estimated fair values at the acquisition date, is as follows: (In thousands) Total Current assets, net of cash acquired $ 19,047 Property, plant and equipment 3,251 Goodwill 97,352 Intangible assets 47,501 Other noncurrent assets 791 Total assets acquired 167,942 Current liabilities (6,074 ) Long-term borrowings (51,130 ) Deferred income taxes (23,103 ) Other noncurrent liabilities (455 ) Net assets acquired $ 87,180
Schedule of Finite-Lived Intangible Assets Acquired	The acquired intangible assets and weighted average amortization periods are as follows: (In thousands, except weighted average life) Total Weighted Average Life Trade names $ 6,411 15 Customer relationships 34,673 12 Unpatented technology 6,417 9 Acquired intangible assets $ 47,501

Business Segments (Tables)

Business Segments (Tables)	9 Months Ended
	Sep. 30, 2019
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 sales, operating income and operating margin are the primary financial measures. Intersegment sales are accounted for at fair value as if the sales were to third parties. Three Months Ended September 30, Nine Months Ended September 30, 2019 2018 2019 2018 Net sales Fluid & Metering Technologies External customers $ 240,758 $ 239,119 $ 729,205 $ 714,135 Intersegment sales 103 94 367 211 Total segment sales 240,861 239,213 729,572 714,346 Health & Science Technologies External customers 228,988 222,351 685,848 670,685 Intersegment sales 622 75 1,305 219 Total segment sales 229,610 222,426 687,153 670,904 Fire & Safety/Diversified Products External customers 154,500 161,418 473,523 484,752 Intersegment sales 43 414 1,222 553 Total segment sales 154,543 161,832 474,745 485,305 Intersegment elimination (768 ) (583 ) (2,894 ) (983 ) Total net sales $ 624,246 $ 622,888 $ 1,888,576 $ 1,869,572 Operating income Fluid & Metering Technologies $ 77,481 $ 69,755 $ 223,493 $ 207,149 Health & Science Technologies 40,170 49,144 151,087 153,519 Fire & Safety/Diversified Products 41,967 44,726 125,909 130,162 Corporate office (17,853 ) (18,492 ) (55,659 ) (61,183 ) Total operating income 141,765 145,133 444,830 429,647 Interest expense 11,330 10,958 33,262 33,098 Other (income) expense - net 1,219 934 701 (3,565 ) Income before income taxes $ 129,216 $ 133,241 $ 410,867 $ 400,114 September 30, December 31, Assets Fluid & Metering Technologies $ 1,121,170 $ 1,107,777 Health & Science Technologies 1,510,210 1,329,368 Fire & Safety/Diversified Products 812,798 806,075 Corporate office 269,717 230,637 Total assets $ 3,713,895 $ 3,473,857

Revenue (Tables)

Revenue (Tables)	9 Months Ended
	Sep. 30, 2019
Revenue from Contract with Customer [Abstract]
Schedule of Disaggregation of Revenue	Revenue by reporting unit for the three and nine months ended September 30, 2019 and 2018 was as follows: Three Months Ended September 30, Nine Months Ended September 30, 2019 2018 2019 2018 Energy $ 42,876 $ 42,403 $ 122,882 $ 121,941 Valves 30,764 30,972 89,955 85,831 Water 62,611 63,989 188,891 188,000 Pumps 84,936 81,605 260,321 245,006 Agriculture 19,674 20,244 67,523 73,568 Intersegment elimination (103 ) (94 ) (367 ) (211 ) Fluid & Metering Technologies 240,758 239,119 729,205 714,135 Scientific Fluidics & Optics 108,869 106,917 325,731 310,530 Sealing Solutions 51,389 48,787 148,326 154,123 Gast 32,699 33,574 104,007 92,989 Micropump 8,273 8,801 25,299 27,899 Material Processing Technologies 28,380 24,347 83,790 85,363 Intersegment elimination (622 ) (75 ) (1,305 ) (219 ) Health & Science Technologies 228,988 222,351 685,848 670,685 Fire & Safety 100,389 102,589 303,094 298,741 BAND-IT 26,087 25,437 81,757 79,892 Dispensing 28,067 33,806 89,894 106,672 Intersegment elimination (43 ) (414 ) (1,222 ) (553 ) Fire & Safety/Diversified Products 154,500 161,418 473,523 484,752 Total net sales $ 624,246 $ 622,888 $ 1,888,576 $ 1,869,572
Schedule of External Net Sales Disaggregated by Geography	Revenue by geographical region for the three and nine months ended September 30, 2019 and 2018 was as follows: Three Months Ended September 30, 2019 FMT HST FSDP IDEX U.S. $ 133,710 $ 103,891 $ 74,306 $ 311,907 North America, excluding U.S. 13,652 5,450 6,726 25,828 Europe 46,830 65,339 38,078 150,247 Asia 30,182 51,378 26,317 107,877 Other (1) 16,487 3,552 9,116 29,155 Intersegment elimination (103 ) (622 ) (43 ) (768 ) Total net sales $ 240,758 $ 228,988 $ 154,500 $ 624,246 Three Months Ended September 30, 2018 FMT HST FSDP IDEX U.S. $ 131,403 $ 99,474 $ 78,902 $ 309,779 North America, excluding U.S. (2) — — — — Europe 46,895 66,762 36,824 150,481 Asia 28,358 46,634 30,265 105,257 Other (3) 32,557 9,556 15,841 57,954 Intersegment elimination (94 ) (75 ) (414 ) (583 ) Total net sales $ 239,119 $ 222,351 $ 161,418 $ 622,888 Nine Months Ended September 30, 2019 FMT HST FSDP IDEX U.S. $ 411,645 $ 309,135 $ 227,881 $ 948,661 North America, excluding U.S. 41,337 15,839 19,124 76,300 Europe 134,403 200,509 124,953 459,865 Asia 94,452 149,939 76,621 321,012 Other (1) 47,735 11,731 26,166 85,632 Intersegment elimination (367 ) (1,305 ) (1,222 ) (2,894 ) Total net sales $ 729,205 $ 685,848 $ 473,523 $ 1,888,576 Nine Months Ended September 30, 2018 FMT HST FSDP IDEX U.S. $ 403,903 $ 290,826 $ 227,146 $ 921,875 North America, excluding U.S. (2) — — — — Europe 130,591 214,564 127,645 472,800 Asia 89,655 139,422 84,563 313,640 Other (3) 90,197 26,092 45,951 162,240 Intersegment elimination (211 ) (219 ) (553 ) (983 ) Total net sales $ 714,135 $ 670,685 $ 484,752 $ 1,869,572 (1) Other in 2019 includes: South America, Middle East, Australia and Africa. (2) Revenue from North America, excluding U.S. of $15,391 from FMT, $6,348 from HST and $7,544 from FSDP were included in Other for the three months ended September 30, 2018 . Revenue from North America, excluding U.S. of $44,610 from FMT, $13,705 from HST and $21,450 from FSDP were included in Other for the nine months ended September 30, 2018 . (3) Other in 2018 includes: North America, excluding U.S., South America, Middle East, Australia and Africa.
Schedule of Contract with Customer, Asset and Liability	The composition of Customer receivables was as follows: September 30, 2019 December 31, 2018 Billed receivables $ 307,180 $ 299,227 Unbilled receivables 10,877 14,492 Total customer receivables $ 318,057 $ 313,719
Schedule of New Accounting Pronouncements and Changes in Accounting Principles	The composition of Deferred revenue was as follows: September 30, 2019 December 31, 2018 Deferred revenue - current $ 9,823 $ 8,055 Deferred revenue - noncurrent 2,369 3,027 Total deferred revenue $ 12,192 $ 11,082

Earnings Per Common Share (Tabl

Earnings Per Common Share (Tables)	9 Months Ended
	Sep. 30, 2019
Earnings Per Share [Abstract]
Schedule of Basic Weighted Average Shares Reconciles to Diluted Weighted Average Shares	Basic weighted average shares outstanding reconciles to diluted weighted average shares outstanding as follows: Three Months Ended September 30, Nine Months Ended September 30, 2019 2018 2019 2018 Basic weighted average common shares outstanding 75,698 76,562 75,532 76,507 Dilutive effect of stock options, restricted stock and performance share units 879 1,147 883 1,210 Diluted weighted average common shares outstanding 76,577 77,709 76,415 77,717

Inventories (Tables)

Inventories (Tables)	9 Months Ended
	Sep. 30, 2019
Inventory Disclosure [Abstract]
Components of Inventories	The components of inventories as of September 30, 2019 and December 31, 2018 were: September 30, December 31, Raw materials and component parts $ 189,361 $ 178,805 Work in process 32,725 37,495 Finished goods 81,408 63,695 Total inventories $ 303,494 $ 279,995

Goodwill and Intangible Assets

Goodwill and Intangible Assets (Tables)	9 Months Ended
	Sep. 30, 2019
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Changes in Carrying Amount of Goodwill	The changes in the carrying amount of goodwill for the nine months ended September 30, 2019 , by reportable business segment, were as follows: FMT HST FSDP IDEX Goodwill $ 601,762 $ 895,177 $ 401,647 $ 1,898,586 Accumulated goodwill impairment losses (20,721 ) (149,820 ) (30,090 ) (200,631 ) Balance at December 31, 2018 581,041 745,357 371,557 1,697,955 Foreign currency translation (4,797 ) (10,083 ) (6,220 ) (21,100 ) Acquisitions — 97,352 — 97,352 Acquisition adjustments — 183 — 183 Balance at September 30, 2019 $ 576,244 $ 832,809 $ 365,337 $ 1,774,390
Schedule of Gross Carrying Value and Accumulated Amortization For Each Major Class of Intangible Asset	The following table provides the gross carrying value and accumulated amortization for each major class of intangible asset at September 30, 2019 and December 31, 2018 : At September 30, 2019 At December 31, 2018 Gross Carrying Amount Accumulated Amortization Net Weighted Average Life Gross Carrying Amount Accumulated Amortization Net Amortized intangible assets: Patents $ 6,583 $ (5,135 ) $ 1,448 12 $ 6,468 $ (4,693 ) $ 1,775 Trade names 120,744 (62,299 ) 58,445 16 115,899 (57,227 ) 58,672 Customer relationships 273,413 (92,692 ) 180,721 14 256,202 (85,652 ) 170,550 Unpatented technology 99,967 (40,713 ) 59,254 12 96,922 (35,685 ) 61,237 Other 700 (560 ) 140 10 700 (507 ) 193 Total amortized intangible assets 501,407 (201,399 ) 300,008 476,191 (183,764 ) 292,427 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 $ 592,307 $ (201,399 ) $ 390,908 $ 567,091 $ (183,764 ) $ 383,327

Accrued Expenses (Tables)

Accrued Expenses (Tables)	9 Months Ended
	Sep. 30, 2019
Payables and Accruals [Abstract]
Components of Accrued Expenses	The components of accrued expenses as of September 30, 2019 and December 31, 2018 were: September 30, December 31, Payroll and related items $ 72,800 $ 78,944 Management incentive compensation 15,052 25,321 Income taxes payable 16,108 23,844 Insurance 8,843 10,422 Warranty 5,131 5,303 Deferred revenue 9,823 8,055 Lease liability 13,919 — Restructuring 3,280 6,170 Liability for uncertain tax positions 830 980 Accrued interest 10,439 1,759 Contingent consideration for acquisition 3,375 — Other 25,556 26,738 Total accrued expenses $ 185,156 $ 187,536

Other Noncurrent Liabilities (T

Other Noncurrent Liabilities (Tables)	9 Months Ended
	Sep. 30, 2019
Other Liabilities Disclosure [Abstract]
Schedule of Other Noncurrent Liabilities	The components of other noncurrent liabilities as of September 30, 2019 and December 31, 2018 were: September 30, December 31, Pension and retiree medical obligations $ 72,731 $ 80,667 Transition tax payable 17,127 17,127 Liability for uncertain tax positions 3,286 3,183 Deferred revenue 2,369 3,027 Liability for construction of new leased facility — 11,616 Lease liability 53,284 — Contingent consideration for acquisition — 3,375 Other 20,630 19,219 Total other noncurrent liabilities $ 169,427 $ 138,214

Borrowings (Tables)

Borrowings (Tables)	9 Months Ended
	Sep. 30, 2019
Debt Disclosure [Abstract]
Schedule of Borrowings	Borrowings at September 30, 2019 and December 31, 2018 consisted of the following: September 30, December 31, Revolving Facility $ — $ — 4.50% Senior Notes, due December 2020 300,000 300,000 4.20% Senior Notes, due December 2021 350,000 350,000 3.20% Senior Notes, due June 2023 100,000 100,000 3.37% Senior Notes, due June 2025 100,000 100,000 Other borrowings 738 1,078 Total borrowings 850,738 851,078 Less current portion 417 483 Less deferred debt issuance costs 1,135 1,593 Less unaccreted debt discount 458 667 Total long-term borrowings $ 848,728 $ 848,335

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
	Sep. 30, 2019
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 (liabilities) at fair value on a recurring basis in the balance sheets at September 30, 2019 and December 31, 2018 : Basis of Fair Value Measurements Balance at September 30, 2019 Level 1 Level 2 Level 3 Available for sale securities $ 9,702 $ 9,702 $ — $ — Contingent consideration 3,375 — — 3,375 Basis of Fair Value Measurements Balance at December 31, 2018 Level 1 Level 2 Level 3 Available for sale securities $ 7,598 $ 7,598 $ — $ — Contingent consideration 3,375 — — 3,375

Leases (Tables)

Leases (Tables)	9 Months Ended
	Sep. 30, 2019
Lessee Disclosure [Abstract]
Supplemental Balance Sheet Disclosures	Supplemental balance sheet information related to leases as of September 30, 2019 was as follows: Balance Sheet Caption September 30, 2019 Operating leases: Building right-of-use assets - net Other noncurrent assets $ 58,183 Equipment right-of-use assets - net Other noncurrent assets 6,677 Total right-of-use assets - net $ 64,860 Operating leases: Current lease liabilities Accrued expenses $ 13,919 Noncurrent lease liabilities Other noncurrent liabilities 53,284 Total lease liabilities $ 67,203
Schedule of Lease, Cost	The components of lease cost for the three and nine months ended September 30, 2019 were as follows: Three Months Ended September 30, 2019 Nine Months Ended September 30, 2019 Operating lease cost (1) $ 4,817 $ 16,387 Variable lease cost 436 1,654 Total lease expense $ 5,253 $ 18,041 (1) Includes short-term leases, which are immaterial.
Schedule of Cash Flow, Supplemental Disclosures	Supplemental cash flow information related to leases for the nine months ended September 30, 2019 was as follows: Nine Months Ended September 30, 2019 Cash paid for amounts included in the measurement of operating lease liabilities $ 15,813 Right-of-use assets obtained in exchange for new operating lease liabilities 6,899 Other supplemental information related to leases as of September 30, 2019 was as follows: Lease Term and Discount Rate September 30, 2019 Weighted-average remaining lease term (years): Operating leases - building and equipment 7.97 Operating leases - vehicles 2.23 Weighted-average discount rate: Operating leases - building and equipment 4.02 % Operating leases - vehicles 3.09 %
Schedule of Operating Lease, Liability, Maturity	Total lease liabilities at September 30, 2019 have scheduled maturities as follows: Maturity of Lease Liabilities Operating Leases (1) 2019 (excluding the nine months ended September 30, 2019) $ 4,356 2020 15,324 2021 12,373 2022 9,373 2023 7,083 Thereafter 31,199 Total lease payments 79,708 Less: Imputed interest (12,505 ) Present value of lease liabilities $ 67,203 (1) Excludes $31.3 million of legally binding minimum lease payments for leases signed but not yet commenced.
Schedule of Future Minimum Rental Payments for Operating Leases	Total lease liabilities at December 31, 2018 had scheduled maturities as follows: Maturity of Lease Liabilities Operating Leases 2019 $ 17,509 2020 13,162 2021 10,516 2022 7,979 2023 6,535 Thereafter 29,658 Total lease payments $ 85,359

Restructuring (Tables)

Restructuring (Tables)	9 Months Ended
	Sep. 30, 2019
Restructuring and Related Activities [Abstract]
Schedule of Restructuring Costs	Pre-tax restructuring expenses by segment for the three and nine months ended September 30, 2019 were as follows: Three Months Ended September 30, 2019 Severance Costs Exit Costs Asset Impairment Total Fluid & Metering Technologies $ — $ — $ — $ — Health & Science Technologies 1,164 352 9,680 11,196 Fire & Safety/Diversified Products 104 — — 104 Corporate/Other 656 — — 656 Total restructuring costs $ 1,924 $ 352 $ 9,680 $ 11,956 Nine Months Ended September 30, 2019 Severance Costs Exit Costs Asset Impairment Total Fluid & Metering Technologies $ 930 $ — $ — $ 930 Health & Science Technologies 1,210 636 9,680 11,526 Fire & Safety/Diversified Products 923 — — 923 Corporate/Other 703 — — 703 Total restructuring costs $ 3,766 $ 636 $ 9,680 $ 14,082
Schedule of Restructuring Reserve	The changes in the restructuring accrual for the nine months ended September 30, 2019 are as follows: Restructuring Balance at January 1, 2019 $ 6,170 Restructuring expenses 4,402 Payments, utilization and other (7,292 ) Balance at September 30, 2019 $ 3,280

Other Comprehensive Income (L_2

Other Comprehensive Income (Loss) (Tables)	9 Months Ended
	Sep. 30, 2019
Equity [Abstract]
Schedule of Accumulated Other Comprehensive Income (Loss)	The components of Other comprehensive income (loss) are as follows: Three Months Ended September 30, 2019 Three Months Ended September 30, 2018 Pre-tax Tax Net of tax Pre-tax Tax Net of tax Cumulative translation adjustment $ (37,825 ) $ — $ (37,825 ) $ 9,164 $ — $ 9,164 Pension and other postretirement adjustments 2,188 (525 ) 1,663 1,725 (455 ) 1,270 Reclassification adjustments for derivatives 1,566 (356 ) 1,210 1,610 (366 ) 1,244 Total other comprehensive income (loss) $ (34,071 ) $ (881 ) $ (34,952 ) $ 12,499 $ (821 ) $ 11,678 Nine Months Ended September 30, 2019 Nine Months Ended September 30, 2018 Pre-tax Tax Net of tax Pre-tax Tax Net of tax Cumulative translation adjustment $ (38,478 ) $ — $ (38,478 ) $ (25,903 ) $ — $ (25,903 ) Pension and other postretirement adjustments 5,579 (1,398 ) 4,181 5,396 (1,417 ) 3,979 Reclassification adjustments for derivatives 4,737 (1,076 ) 3,661 4,869 (1,105 ) 3,764 Total other comprehensive income (loss) $ (28,162 ) $ (2,474 ) $ (30,636 ) $ (15,638 ) $ (2,522 ) $ (18,160 )
Reclassification out of Accumulated Other Comprehensive Income	The following table summarizes the amounts reclassified from accumulated other comprehensive income (loss) to net income during the three and nine months ended September 30, 2019 and 2018 : Three Months Ended September 30, Nine Months Ended September 30, 2019 2018 2019 2018 Income Statement Caption Pension and other postretirement plans: Amortization of net (gain) loss $ 2,188 $ 1,725 $ 5,579 $ 5,396 Other (income) expense - net Total before tax 2,188 1,725 5,579 5,396 Provision for income taxes (525 ) (455 ) (1,398 ) (1,417 ) Total net of tax $ 1,663 $ 1,270 $ 4,181 $ 3,979 Derivatives: Reclassification adjustments $ 1,566 $ 1,610 $ 4,737 $ 4,869 Interest expense Total before tax 1,566 1,610 4,737 4,869 Provision for income taxes (356 ) (366 ) (1,076 ) (1,105 ) Total net of tax $ 1,210 $ 1,244 $ 3,661 $ 3,764

Share-Based Compensation (Table

Share-Based Compensation (Tables)	9 Months Ended
	Sep. 30, 2019
Share-based Payment Arrangement [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 September 30, Nine Months Ended September 30, 2019 2018 2019 2018 Weighted average fair value of grants $27.72 $40.83 $35.15 $38.14 Dividend yield 1.27% 1.14% 1.18% 1.07% Volatility 22.33% 27.81% 24.78% 28.47% Risk-free interest rate 1.75% - 1.77% 2.47% - 3.07% 2.53% - 3.04% 2.02% - 3.17% Expected life (in years) 4.65 5.81 5.87 5.83
Schedule of Compensation Cost for Stock Options	Total compensation cost for stock options is as follows: Three Months Ended September 30, Nine Months Ended September 30, 2019 2018 2019 2018 Cost of goods sold $ 74 $ 91 $ 356 $ 388 Selling, general and administrative expenses 2,137 1,929 6,663 6,334 Total expense before income taxes 2,211 2,020 7,019 6,722 Income tax benefit (288 ) (385 ) (940 ) (1,219 ) Total expense after income taxes $ 1,923 $ 1,635 $ 6,079 $ 5,503
Schedule of Stock Option Activity	A summary of the Company’s stock option activity as of September 30, 2019 and changes during the nine months ended September 30, 2019 are presented in the following table: Stock Options Shares Weighted Average Price Weighted-Average Remaining Contractual Term Aggregate Intrinsic Value Outstanding at January 1, 2019 1,714,003 $ 85.08 6.70 $ 74,191,783 Granted 335,095 144.91 Exercised (513,317 ) 69.34 Forfeited (90,067 ) 114.85 Outstanding at September 30, 2019 1,445,714 $ 102.69 7.13 $ 88,375,713 Vested and expected to vest as of September 30, 2019 1,346,871 $ 100.97 7.04 $ 84,725,335 Exercisable at September 30, 2019 649,766 $ 78.22 5.69 $ 55,657,413
Schedule of Restricted Stock Activity	A summary of the Company’s restricted stock activity as of September 30, 2019 and changes during the nine months ended September 30, 2019 are presented as follows: Restricted Stock Shares Weighted-Average Unvested at January 1, 2019 148,041 $ 101.50 Granted 41,780 143.13 Vested (50,892 ) 80.51 Forfeited (12,390 ) 122.52 Unvested at September 30, 2019 126,539 $ 122.69
Schedule of Compensation Cost for Restricted Stock	Total compensation cost for restricted shares is as follows: Three Months Ended September 30, Nine Months Ended September 30, 2019 2018 2019 2018 Cost of goods sold $ (10 ) $ 77 $ 192 $ 316 Selling, general and administrative expenses 1,094 902 3,419 3,155 Total expense before income taxes 1,084 979 3,611 3,471 Income tax benefit (204 ) (177 ) (684 ) (620 ) Total expense after income taxes $ 880 $ 802 $ 2,927 $ 2,851
Schedule of Unvested Cash-settled Restricted Stock Activity	Cash-settled restricted stock awards are recorded at fair value on a quarterly basis using the market price of the Company’s stock on the last day of the quarter. A summary of the Company’s unvested cash-settled restricted stock activity as of September 30, 2019 and changes during the nine months ended September 30, 2019 are presented in the following table: Cash-Settled Restricted Stock Shares Weighted-Average Unvested at January 1, 2019 88,225 $ 126.26 Granted 25,950 143.14 Vested (28,150 ) 144.27 Forfeited (9,040 ) 159.68 Unvested at September 30, 2019 76,985 $ 172.08
Schedule of Compensation Cost for Unvested Cash-settled Restricted Stock	Total compensation cost for cash-settled restricted stock is as follows: Three Months Ended September 30, Nine Months Ended September 30, 2019 2018 2019 2018 Cost of goods sold $ 118 $ 381 $ 954 $ 896 Selling, general and administrative expenses 435 1,064 3,132 2,776 Total expense before income taxes 553 1,445 4,086 3,672 Income tax benefit (67 ) (158 ) (413 ) (368 ) Total expense after income taxes $ 486 $ 1,287 $ 3,673 $ 3,304
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. Nine Months Ended September 30, 2019 2018 Weighted average fair value of grants $207.26 $216.59 Dividend yield —% —% Volatility 19.11% 17.42% Risk-free interest rate 2.49% 2.40% Expected life (in years) 2.83 2.85
Schedule of Performance Shares Units Activity	A summary of the Company’s performance share unit activity as of September 30, 2019 and changes during the nine months ended September 30, 2019 are presented in the following table: Performance Share Units Shares Weighted-Average Unvested at January 1, 2019 111,155 $ 142.42 Granted 56,860 207.26 Vested — — Forfeited (12,895 ) 125.03 Unvested at September 30, 2019 155,120 $ 178.97
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 September 30, Nine Months Ended September 30, 2019 2018 2019 2018 Cost of goods sold $ — $ — $ — $ — Selling, general and administrative expenses 2,359 2,118 5,904 5,949 Total expense before income taxes 2,359 2,118 5,904 5,949 Income tax benefit (196 ) (418 ) (447 ) (1,123 ) Total expense after income taxes $ 2,163 $ 1,700 $ 5,457 $ 4,826

Retirement Benefits (Tables)

Retirement Benefits (Tables)	9 Months Ended
	Sep. 30, 2019
Retirement Benefits [Abstract]
Components of Net Periodic Benefit Cost for Defined Benefit Plans and Other Postretirement Plans	The following tables provide the components of net periodic benefit cost for its major defined benefit plans and its other postretirement plans. Pension Benefits Three Months Ended September 30, 2019 2018 U.S. Non-U.S. U.S. Non-U.S. Service cost $ 484 $ 462 $ 156 $ 520 Interest cost 764 355 669 341 Expected return on plan assets (801 ) (258 ) (991 ) (276 ) Settlement loss recognized 486 — — — Net amortization 487 276 664 312 Net periodic benefit cost $ 1,420 $ 835 $ 498 $ 897 Pension Benefits Nine Months Ended September 30, 2019 2018 U.S. Non-U.S. U.S. Non-U.S. Service cost $ 901 $ 1,386 $ 665 $ 1,592 Interest cost 2,292 1,081 1,975 1,053 Expected return on plan assets (2,403 ) (784 ) (2,957 ) (848 ) Settlement loss recognized 486 — — — Net amortization 1,460 840 2,034 964 Net periodic benefit cost $ 2,736 $ 2,523 $ 1,717 $ 2,761 Other Postretirement Benefits Three Months Ended September 30, Nine Months Ended September 30, 2019 2018 2019 2018 Service cost $ 141 $ 167 $ 421 $ 502 Interest cost 212 202 636 608 Net amortization (159 ) (185 ) (476 ) (553 ) Net periodic benefit cost $ 194 $ 184 $ 581 $ 557

Basis of Presentation and Sig_3

Basis of Presentation and Significant Accounting Policies (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Jan. 01, 2019
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Operating lease, right-of-use asset	$ 64,860
Operating lease, liability	$ 67,203
Accounting Standards Update 2016-02
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Operating lease, right-of-use asset		$ 68,000
Operating lease, liability		$ 68,000

Acquisitions and Divestitures -

Acquisitions and Divestitures - Narrative (Details) - USD ($)	Sep. 03, 2019	Jul. 18, 2019	Jul. 23, 2018	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018	Dec. 31, 2018
Business Acquisition [Line Items]
Net sales				$ 624,246,000	$ 622,888,000	$ 1,888,576,000	$ 1,869,572,000
Goodwill				1,774,390,000		1,774,390,000		$ 1,697,955,000
Velcora Holding AB
Business Acquisition [Line Items]
Net sales								$ 40,000,000
Aggregate purchase price, cash paid		$ 87,200,000
Assumed debt		51,100,000
Goodwill		97,352,000
Intangible assets		$ 47,501,000
Loss on extinguishment of debt	$ 700,000
Finger Lakes Instrumentation (FLI)
Business Acquisition [Line Items]
Aggregate purchase price, cash paid			$ 20,200,000
Goodwill			12,600,000
Intangible assets			7,900,000
Consideration transferred			23,600,000
Contingent consideration			$ 3,400,000
Contingent consideration arrangements, period			24 months
Selling, general and administrative expenses
Business Acquisition [Line Items]
Acquisition-related transaction costs				600,000	$ 0	1,300,000	$ 1,500,000
Cost of goods sold
Business Acquisition [Line Items]
Non-cash inventory set-up charge				$ 3,300,000		$ 3,300,000

Acquisitions and Divestitures_2

Acquisitions and Divestitures - Allocation of Acquisition Costs to Assets Acquired and Liabilities Assumed (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Jul. 18, 2019	Dec. 31, 2018
Business Acquisition [Line Items]
Goodwill	$ 1,774,390		$ 1,697,955
Velcora Holding AB
Business Acquisition [Line Items]
Current assets, net of cash acquired		$ 19,047
Property, plant and equipment		3,251
Goodwill		97,352
Intangible assets		47,501
Other noncurrent assets		791
Total assets acquired		167,942
Current liabilities		(6,074)
Long-term borrowings		(51,130)
Deferred income taxes		(23,103)
Other noncurrent liabilities		(455)
Net assets acquired		$ 87,180

Acquisitions and Divestitures_3

Acquisitions and Divestitures - Acquired Intangible Assets and Weighted Average Amortization Periods (Details) - Velcora Holding AB $ in Thousands	Jul. 18, 2019USD ($)
Acquired Finite-Lived Intangible Assets [Line Items]
Acquired intangible assets, Total	$ 47,501
Trade names
Acquired Finite-Lived Intangible Assets [Line Items]
Acquired intangible assets, Total	$ 6,411
Acquired intangible assets, Weighted Average Life	15 years
Customer relationships
Acquired Finite-Lived Intangible Assets [Line Items]
Acquired intangible assets, Total	$ 34,673
Acquired intangible assets, Weighted Average Life	12 years
Unpatented technology
Acquired Finite-Lived Intangible Assets [Line Items]
Acquired intangible assets, Total	$ 6,417
Acquired intangible assets, Weighted Average Life	9 years

Business Segments - Narrative (

Business Segments - Narrative (Details)	9 Months Ended
	Sep. 30, 2019segment
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		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018	Dec. 31, 2018
Segment Reporting Information [Line Items]
Net sales	$ 624,246	$ 622,888	$ 1,888,576	$ 1,869,572
Operating income	141,765	145,133	444,830	429,647
Interest expense	11,330	10,958	33,262	33,098
Other (income) expense - net	1,219	934	701	(3,565)
Income before income taxes	129,216	133,241	410,867	400,114
Total assets	3,713,895		3,713,895		$ 3,473,857
Intersegment elimination
Segment Reporting Information [Line Items]
Net sales	(768)	(583)	(2,894)	(983)
Corporate office
Segment Reporting Information [Line Items]
Operating income	(17,853)	(18,492)	(55,659)	(61,183)
Total assets	269,717		269,717		230,637
Fluid & Metering Technologies
Segment Reporting Information [Line Items]
Net sales	240,758	239,119	729,205	714,135
Operating income	77,481	69,755	223,493	207,149
Fluid & Metering Technologies | Intersegment elimination
Segment Reporting Information [Line Items]
Net sales	103	94	367	211
Fluid & Metering Technologies | Operating Segments
Segment Reporting Information [Line Items]
Net sales	240,861	239,213	729,572	714,346
Total assets	1,121,170		1,121,170		1,107,777
Health & Science Technologies
Segment Reporting Information [Line Items]
Net sales	228,988	222,351	685,848	670,685
Operating income	40,170	49,144	151,087	153,519
Health & Science Technologies | Intersegment elimination
Segment Reporting Information [Line Items]
Net sales	622	75	1,305	219
Health & Science Technologies | Operating Segments
Segment Reporting Information [Line Items]
Net sales	229,610	222,426	687,153	670,904
Total assets	1,510,210		1,510,210		1,329,368
Fire & Safety/Diversified Products
Segment Reporting Information [Line Items]
Net sales	154,500	161,418	473,523	484,752
Operating income	41,967	44,726	125,909	130,162
Fire & Safety/Diversified Products | Intersegment elimination
Segment Reporting Information [Line Items]
Net sales	43	414	1,222	553
Fire & Safety/Diversified Products | Operating Segments
Segment Reporting Information [Line Items]
Net sales	154,543	$ 161,832	474,745	$ 485,305
Total assets	$ 812,798		$ 812,798		$ 806,075

Revenue - Revenue by Reporting

Revenue - Revenue by Reporting Unit (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Disaggregation of Revenue [Line Items]
Total net sales	$ 624,246	$ 622,888	$ 1,888,576	$ 1,869,572
Intersegment elimination
Disaggregation of Revenue [Line Items]
Total net sales	(768)	(583)	(2,894)	(983)
Fluid & Metering Technologies
Disaggregation of Revenue [Line Items]
Total net sales	240,758	239,119	729,205	714,135
Fluid & Metering Technologies | Operating Segments
Disaggregation of Revenue [Line Items]
Total net sales	240,758	239,119	729,205	714,135
Fluid & Metering Technologies | Intersegment elimination
Disaggregation of Revenue [Line Items]
Total net sales	(103)	(94)	(367)	(211)
Fluid & Metering Technologies | Energy | Operating Segments
Disaggregation of Revenue [Line Items]
Total net sales	42,876	42,403	122,882	121,941
Fluid & Metering Technologies | Valves | Operating Segments
Disaggregation of Revenue [Line Items]
Total net sales	30,764	30,972	89,955	85,831
Fluid & Metering Technologies | Water | Operating Segments
Disaggregation of Revenue [Line Items]
Total net sales	62,611	63,989	188,891	188,000
Fluid & Metering Technologies | Pumps | Operating Segments
Disaggregation of Revenue [Line Items]
Total net sales	84,936	81,605	260,321	245,006
Fluid & Metering Technologies | Agriculture | Operating Segments
Disaggregation of Revenue [Line Items]
Total net sales	19,674	20,244	67,523	73,568
Health & Science Technologies
Disaggregation of Revenue [Line Items]
Total net sales	228,988	222,351	685,848	670,685
Health & Science Technologies | Operating Segments
Disaggregation of Revenue [Line Items]
Total net sales	228,988	222,351	685,848	670,685
Health & Science Technologies | Intersegment elimination
Disaggregation of Revenue [Line Items]
Total net sales	(622)	(75)	(1,305)	(219)
Health & Science Technologies | Scientific Fluidics & Optics | Operating Segments
Disaggregation of Revenue [Line Items]
Total net sales	108,869	106,917	325,731	310,530
Health & Science Technologies | Sealing Solutions | Operating Segments
Disaggregation of Revenue [Line Items]
Total net sales	51,389	48,787	148,326	154,123
Health & Science Technologies | Gast | Operating Segments
Disaggregation of Revenue [Line Items]
Total net sales	32,699	33,574	104,007	92,989
Health & Science Technologies | Micropump | Operating Segments
Disaggregation of Revenue [Line Items]
Total net sales	8,273	8,801	25,299	27,899
Health & Science Technologies | Material Processing Technologies | Operating Segments
Disaggregation of Revenue [Line Items]
Total net sales	28,380	24,347	83,790	85,363
Fire & Safety/Diversified Products
Disaggregation of Revenue [Line Items]
Total net sales	154,500	161,418	473,523	484,752
Fire & Safety/Diversified Products | Operating Segments
Disaggregation of Revenue [Line Items]
Total net sales	154,500	161,418	473,523	484,752
Fire & Safety/Diversified Products | Intersegment elimination
Disaggregation of Revenue [Line Items]
Total net sales	(43)	(414)	(1,222)	(553)
Fire & Safety/Diversified Products | Fire & Safety | Operating Segments
Disaggregation of Revenue [Line Items]
Total net sales	100,389	102,589	303,094	298,741
Fire & Safety/Diversified Products | BAND-IT | Operating Segments
Disaggregation of Revenue [Line Items]
Total net sales	26,087	25,437	81,757	79,892
Fire & Safety/Diversified Products | Dispensing | Operating Segments
Disaggregation of Revenue [Line Items]
Total net sales	$ 28,067	$ 33,806	$ 89,894	$ 106,672

Revenue - Revenue by Geography

Revenue - Revenue by Geography (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Disaggregation of Revenue [Line Items]
Total net sales	$ 624,246	$ 622,888	$ 1,888,576	$ 1,869,572
Intersegment elimination
Disaggregation of Revenue [Line Items]
Total net sales	(768)	(583)	(2,894)	(983)
U.S. | Operating Segments
Disaggregation of Revenue [Line Items]
Total net sales	311,907	309,779	948,661	921,875
North America, excluding U.S. | Operating Segments
Disaggregation of Revenue [Line Items]
Total net sales	25,828	0	76,300	0
Europe | Operating Segments
Disaggregation of Revenue [Line Items]
Total net sales	150,247	150,481	459,865	472,800
Asia | Operating Segments
Disaggregation of Revenue [Line Items]
Total net sales	107,877	105,257	321,012	313,640
Other | Operating Segments
Disaggregation of Revenue [Line Items]
Total net sales	29,155	57,954	85,632	162,240
FMT
Disaggregation of Revenue [Line Items]
Total net sales	240,758	239,119	729,205	714,135
FMT | Operating Segments
Disaggregation of Revenue [Line Items]
Total net sales	240,758	239,119	729,205	714,135
FMT | Intersegment elimination
Disaggregation of Revenue [Line Items]
Total net sales	(103)	(94)	(367)	(211)
FMT | U.S. | Operating Segments
Disaggregation of Revenue [Line Items]
Total net sales	133,710	131,403	411,645	403,903
FMT | North America, excluding U.S. | Operating Segments
Disaggregation of Revenue [Line Items]
Total net sales	13,652	0	41,337	0
FMT | Europe | Operating Segments
Disaggregation of Revenue [Line Items]
Total net sales	46,830	46,895	134,403	130,591
FMT | Asia | Operating Segments
Disaggregation of Revenue [Line Items]
Total net sales	30,182	28,358	94,452	89,655
FMT | Other | Operating Segments
Disaggregation of Revenue [Line Items]
Total net sales	16,487	32,557	47,735	90,197
FMT | North America, Excluding United States Included in Other | Operating Segments
Disaggregation of Revenue [Line Items]
Total net sales		15,391		44,610
HST
Disaggregation of Revenue [Line Items]
Total net sales	228,988	222,351	685,848	670,685
HST | Operating Segments
Disaggregation of Revenue [Line Items]
Total net sales	228,988	222,351	685,848	670,685
HST | Intersegment elimination
Disaggregation of Revenue [Line Items]
Total net sales	(622)	(75)	(1,305)	(219)
HST | U.S. | Operating Segments
Disaggregation of Revenue [Line Items]
Total net sales	103,891	99,474	309,135	290,826
HST | North America, excluding U.S. | Operating Segments
Disaggregation of Revenue [Line Items]
Total net sales	5,450	0	15,839	0
HST | Europe | Operating Segments
Disaggregation of Revenue [Line Items]
Total net sales	65,339	66,762	200,509	214,564
HST | Asia | Operating Segments
Disaggregation of Revenue [Line Items]
Total net sales	51,378	46,634	149,939	139,422
HST | Other | Operating Segments
Disaggregation of Revenue [Line Items]
Total net sales	3,552	9,556	11,731	26,092
HST | North America, Excluding United States Included in Other | Operating Segments
Disaggregation of Revenue [Line Items]
Total net sales		6,348		13,705
FSDP
Disaggregation of Revenue [Line Items]
Total net sales	154,500	161,418	473,523	484,752
FSDP | Operating Segments
Disaggregation of Revenue [Line Items]
Total net sales	154,500	161,418	473,523	484,752
FSDP | Intersegment elimination
Disaggregation of Revenue [Line Items]
Total net sales	(43)	(414)	(1,222)	(553)
FSDP | U.S. | Operating Segments
Disaggregation of Revenue [Line Items]
Total net sales	74,306	78,902	227,881	227,146
FSDP | North America, excluding U.S. | Operating Segments
Disaggregation of Revenue [Line Items]
Total net sales	6,726	0	19,124	0
FSDP | Europe | Operating Segments
Disaggregation of Revenue [Line Items]
Total net sales	38,078	36,824	124,953	127,645
FSDP | Asia | Operating Segments
Disaggregation of Revenue [Line Items]
Total net sales	26,317	30,265	76,621	84,563
FSDP | Other | Operating Segments
Disaggregation of Revenue [Line Items]
Total net sales	$ 9,116	15,841	$ 26,166	45,951
FSDP | North America, Excluding United States Included in Other | Operating Segments
Disaggregation of Revenue [Line Items]
Total net sales		$ 7,544		$ 21,450

Revenue - Receivables (Details)

Revenue - Receivables (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total customer receivables	$ 318,057	$ 313,719
Unbilled receivables	10,877	14,492
Billed receivables
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total customer receivables	$ 307,180	$ 299,227

Revenue - Deferred Revenue (Det

Revenue - Deferred Revenue (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Revenue from Contract with Customer [Abstract]
Deferred revenue - current	$ 9,823	$ 8,055
Deferred revenue - noncurrent	2,369	3,027
Total deferred revenue	$ 12,192	$ 11,082

Revenue - Additional Informatio

Revenue - Additional Information (Details) - Revenue from Contract with Customer - Product Concentration Risk	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Transferred at Point in Time
Disaggregation of Revenue [Line Items]
Revenue from products and services transferred to customers	95.00%	95.00%	95.00%	95.00%
Transferred over Time
Disaggregation of Revenue [Line Items]
Revenue from products and services transferred to customers	5.00%	5.00%	5.00%	5.00%

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		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Earnings Per Share [Abstract]
Basic weighted average common shares outstanding (in shares)	75,698	76,562	75,532	76,507
Dilutive effect of stock options, restricted stock and performance share units (in shares)	879	1,147	883	1,210
Diluted weighted average common shares outstanding (in shares)	76,577	77,709	76,415	77,717

Earnings Per Common Share - Nar

Earnings Per Common Share - Narrative (Details) - shares shares in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Earnings Per Share [Abstract]
Option to purchase common stock shares not included in the computation of diluted EPS (in shares)	0.3	0.3	0.6	0.3

Inventories (Details)

Inventories (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Inventory Disclosure [Abstract]
Raw materials and component parts	$ 189,361	$ 178,805
Work in process	32,725	37,495
Finished goods	81,408	63,695
Total inventories	$ 303,494	$ 279,995

Goodwill and Intangible Asset_2

Goodwill and Intangible Assets - Schedule of Changes in Carrying Amount of Goodwill (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2019	Dec. 31, 2018
Goodwill and Intangible Assets Disclosure [Line Items]
Goodwill		$ 1,898,586
Accumulated goodwill impairment losses		(200,631)
Goodwill [Roll Forward]
Balance at December 31, 2018	$ 1,697,955
Foreign currency translation	(21,100)
Acquisitions	97,352
Acquisition adjustments	183
Balance at September 30, 2019	1,774,390
FMT
Goodwill and Intangible Assets Disclosure [Line Items]
Goodwill		601,762
Accumulated goodwill impairment losses		(20,721)
Goodwill [Roll Forward]
Balance at December 31, 2018	581,041
Foreign currency translation	(4,797)
Acquisitions	0
Acquisition adjustments	0
Balance at September 30, 2019	576,244
HST
Goodwill and Intangible Assets Disclosure [Line Items]
Goodwill		895,177
Accumulated goodwill impairment losses		(149,820)
Goodwill [Roll Forward]
Balance at December 31, 2018	745,357
Foreign currency translation	(10,083)
Acquisitions	97,352
Acquisition adjustments	183
Balance at September 30, 2019	832,809
FSDP
Goodwill and Intangible Assets Disclosure [Line Items]
Goodwill		401,647
Accumulated goodwill impairment losses		$ (30,090)
Goodwill [Roll Forward]
Balance at December 31, 2018	371,557
Foreign currency translation	(6,220)
Acquisitions	0
Acquisition adjustments	0
Balance at September 30, 2019	$ 365,337

Goodwill and Intangible Asset_3

Goodwill and Intangible Assets - Schedule of Gross Carrying Value and Accumulated Amortization for Each Major Class of Intangible Asset (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2019	Dec. 31, 2018
Goodwill And Intangible Assets [Line Items]
Amortized intangible assets - Gross Carrying Amount	$ 501,407	$ 476,191
Intangible assets - Gross Carrying Amount	592,307	567,091
Amortized intangible assets - Accumulated Amortization	(201,399)	(183,764)
Amortized intangible assets - Net	300,008	292,427
Intangible assets - Net	390,908	383,327
Banjo trade name
Goodwill And Intangible Assets [Line Items]
Indefinite lived intangible assets - Net	62,100	62,100
Akron Brass trade name
Goodwill And Intangible Assets [Line Items]
Indefinite lived intangible assets - Net	28,800	28,800
Patents
Goodwill And Intangible Assets [Line Items]
Amortized intangible assets - Gross Carrying Amount	6,583	6,468
Amortized intangible assets - Accumulated Amortization	(5,135)	(4,693)
Amortized intangible assets - Net	$ 1,448	1,775
Amortized intangible assets - Weighted Average Life	12 years
Trade names
Goodwill And Intangible Assets [Line Items]
Amortized intangible assets - Gross Carrying Amount	$ 120,744	115,899
Amortized intangible assets - Accumulated Amortization	(62,299)	(57,227)
Amortized intangible assets - Net	$ 58,445	58,672
Amortized intangible assets - Weighted Average Life	16 years
Customer relationships
Goodwill And Intangible Assets [Line Items]
Amortized intangible assets - Gross Carrying Amount	$ 273,413	256,202
Amortized intangible assets - Accumulated Amortization	(92,692)	(85,652)
Amortized intangible assets - Net	$ 180,721	170,550
Amortized intangible assets - Weighted Average Life	14 years
Unpatented technology
Goodwill And Intangible Assets [Line Items]
Amortized intangible assets - Gross Carrying Amount	$ 99,967	96,922
Amortized intangible assets - Accumulated Amortization	(40,713)	(35,685)
Amortized intangible assets - Net	$ 59,254	61,237
Amortized intangible assets - Weighted Average Life	12 years
Other
Goodwill And Intangible Assets [Line Items]
Amortized intangible assets - Gross Carrying Amount	$ 700	700
Amortized intangible assets - Accumulated Amortization	(560)	(507)
Amortized intangible assets - Net	$ 140	$ 193
Amortized intangible assets - Weighted Average Life	10 years

Goodwill and Intangible Asset_4

Goodwill and Intangible Assets - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Finite-Lived Intangible Assets [Line Items]
Definite-lived intangible assets	$ 7,100
Amortization of intangible assets	9,700	$ 8,800	$ 27,747	$ 29,505
Intangible assets, amortization expense
Remaining of 2019	9,500		9,500
2020	37,600		37,600
2021	36,300		36,300
2022	34,700		34,700
2023	31,800		$ 31,800
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Definite-lived intangible assets	6,100
Unpatented technology
Finite-Lived Intangible Assets [Line Items]
Definite-lived intangible assets	$ 1,000

Accrued Expenses (Details)

Accrued Expenses (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Payables and Accruals [Abstract]
Payroll and related items	$ 72,800	$ 78,944
Management incentive compensation	15,052	25,321
Income taxes payable	16,108	23,844
Insurance	8,843	10,422
Warranty	5,131	5,303
Deferred revenue	9,823	8,055
Lease liability	13,919	0
Restructuring	3,280	6,170
Liability for uncertain tax positions	830	980
Accrued interest	10,439	1,759
Contingent consideration for acquisition	3,375	0
Other	25,556	26,738
Total accrued expenses	$ 185,156	$ 187,536

Other Noncurrent Liabilities (D

Other Noncurrent Liabilities (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Other Liabilities Disclosure [Abstract]
Pension and retiree medical obligations	$ 72,731	$ 80,667
Transition tax payable	17,127	17,127
Liability for uncertain tax positions	3,286	3,183
Deferred revenue	2,369	3,027
Liability for construction of new leased facility	0	11,616
Lease liability	53,284	0
Contingent consideration for acquisition	0	3,375
Other	20,630	19,219
Total other noncurrent liabilities	$ 169,427	$ 138,214

Borrowings - Schedule of Borrow

Borrowings - Schedule of Borrowings (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018	Jun. 13, 2016
Debt Instrument [Line Items]
Total borrowings	$ 850,738	$ 851,078
Other borrowings	738	1,078
Less current portion	417	483
Less deferred debt issuance costs	1,135	1,593
Less unaccreted debt discount	458	667
Total long-term borrowings	$ 848,728	$ 848,335
4.50% Senior Notes, due December 2020
Debt Instrument [Line Items]
Stated interest rate	4.50%	4.50%
4.20% Senior Notes, due December 2021
Debt Instrument [Line Items]
Stated interest rate	4.20%	4.20%
3.20% Senior Notes, due June 2023
Debt Instrument [Line Items]
Stated interest rate	3.20%	3.20%
3.37% Senior Notes, due June 2025
Debt Instrument [Line Items]
Stated interest rate	3.37%	3.37%
Senior Notes | 4.50% Senior Notes, due December 2020
Debt Instrument [Line Items]
Total borrowings	$ 300,000	$ 300,000
Senior Notes | 4.20% Senior Notes, due December 2021
Debt Instrument [Line Items]
Total borrowings	350,000	350,000
Senior Notes | 3.20% Senior Notes, due June 2023
Debt Instrument [Line Items]
Stated interest rate			3.20%
Total borrowings	100,000	100,000
Senior Notes | 3.37% Senior Notes, due June 2025
Debt Instrument [Line Items]
Stated interest rate			3.37%
Total borrowings	100,000	100,000
Revolving Facility
Debt Instrument [Line Items]
Total borrowings	$ 0	$ 0

Borrowings - Narrative (Details

Borrowings - Narrative (Details)	May 31, 2019USD ($)	Jun. 23, 2015USD ($)	Sep. 30, 2019USD ($)covenant	Dec. 31, 2018	Jun. 13, 2016USD ($)
Line of Credit Facility [Line Items]
Number of financial covenants | covenant			2
For 12 Months in Connection with Certain Acquisitions
Line of Credit Facility [Line Items]
Leverage ratio			4
Minimum
Line of Credit Facility [Line Items]
Required percent for prepayment amount of aggregate principal amount					5.00%
Interest coverage ratio			3
Maximum
Line of Credit Facility [Line Items]
Leverage ratio			3.50
Revolving Facility
Line of Credit Facility [Line Items]
Debt instrument, term		5 years
Borrowing capacity	$ 800,000,000	$ 700,000,000
Extension period	1 year
Aggregate lending commitments	$ 400,000,000
Current borrowings under revolving facility			$ 0
Outstanding letters of credit			10,100,000
Amount available to borrow			$ 789,900,000
3.20% Senior Notes, due June 2023
Line of Credit Facility [Line Items]
Stated interest rate			3.20%	3.20%
3.37% Senior Notes, due June 2025
Line of Credit Facility [Line Items]
Stated interest rate			3.37%	3.37%
4.50% Senior Notes, due December 2020
Line of Credit Facility [Line Items]
Stated interest rate			4.50%	4.50%
4.20% Senior Notes, due December 2021
Line of Credit Facility [Line Items]
Stated interest rate			4.20%	4.20%
Senior Notes | Maximum
Line of Credit Facility [Line Items]
Limitation of outstanding principal of higher preference debt as percent of consolidated assets			15.00%
Senior Notes | 3.20% Senior Notes, due June 2023
Line of Credit Facility [Line Items]
Face amount of debt					$ 100,000,000
Stated interest rate					3.20%
Senior Notes | 3.37% Senior Notes, due June 2025
Line of Credit Facility [Line Items]
Face amount of debt					$ 100,000,000
Stated interest rate					3.37%
Letters Of Credit | Revolving Facility
Line of Credit Facility [Line Items]
Borrowing capacity	75,000,000
Swing line Loans | Revolving Facility
Line of Credit Facility [Line Items]
Borrowing capacity	$ 50,000,000

Derivative Instruments (Details

Derivative Instruments (Details) € in Millions	1 Months Ended	3 Months Ended		9 Months Ended		24 Months Ended
	Apr. 30, 2018USD ($)	Sep. 30, 2019USD ($)	Sep. 30, 2018USD ($)	Sep. 30, 2019USD ($)	Sep. 30, 2018USD ($)	Dec. 31, 2011USD ($)instrument	Mar. 31, 2018EUR (€)
Derivative [Line Items]
Amortization of interest expense				$ 1,013,000	$ 998,000
Amount to be recognized from hedged transactions within 12 months, approximate				$ 6,200,000
Foreign currency transaction gain		$ 0
Switzerland
Derivative [Line Items]
Stamp duty expense	$ 2,200,000
Other (Income) Expense Net
Derivative [Line Items]
Foreign currency transaction loss			$ 0		900,000
4.20% Senior Notes, due December 2021
Derivative [Line Items]
Interest rate on senior notes						4.20%
4.50% 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						$ 68,900,000
Term of amortized interest expense, years						10 years
Foreign currency exchange contracts
Derivative [Line Items]
Derivative, notional amount | €							€ 180
Cash received from settlement of contracts					6,600,000
Foreign currency exchange contracts | Other (Income) Expense Net
Derivative [Line Items]
Gain (loss) on derivatives			$ 0		$ 900,000

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	Sep. 30, 2019	Dec. 31, 2018
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available for sale securities	$ 9,702	$ 7,598
Contingent consideration	3,375	3,375
Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available for sale securities	9,702	7,598
Contingent consideration	0	0
Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available for sale securities	0	0
Contingent consideration	0	0
Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available for sale securities	0	0
Contingent consideration	$ 3,375	$ 3,375

Fair Value Measurements - Narra

Fair Value Measurements - Narrative (Details) - USD ($) $ in Millions	Sep. 30, 2019	Dec. 31, 2018	Jul. 23, 2018
Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt, fair value	$ 875.9	$ 851.5
Carrying Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt, fair value	$ 850.3	$ 850.4
3.20% Senior Notes, due June 2023
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Stated interest rate	3.20%	3.20%
3.37% Senior Notes, due June 2025
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Stated interest rate	3.37%	3.37%
4.50% Senior Notes, due December 2020
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Stated interest rate	4.50%	4.50%
4.20% Senior Notes, due December 2021
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Stated interest rate	4.20%	4.20%
Finger Lakes Instrumentation (FLI)
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Contingent consideration			$ 3.4
Finger Lakes Instrumentation (FLI) | Other Noncurrent Liabilities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Contingent consideration	$ 3.4

Leases (Details)

Leases (Details) $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2019USD ($)option	Sep. 30, 2019USD ($)option	Sep. 30, 2018USD ($)	Dec. 31, 2018USD ($)
Lessee, Lease, Description [Line Items]
Options for renewal | option	1	1
Assets and Liabilities, Lessee [Abstract]
Total right-of-use assets - net	$ 64,860	$ 64,860
Current lease liabilities	13,919	13,919		$ 0
Noncurrent lease liabilities	53,284	53,284		0
Total lease liabilities	67,203	67,203
Asset impairments	9,700	9,680	$ 0
Lease, Cost [Abstract]
Operating lease cost	4,817	16,387
Variable lease cost	436	1,654
Total lease expense	5,253	18,041
Cash paid for amounts included in the measurement of operating lease liabilities		15,813
Right-of-use assets obtained in exchange for new operating lease liabilities		6,899
Lessee, Operating Lease, Liability, Payment, Due [Abstract]
2019 (excluding the nine months ended September 30, 2019)	4,356	4,356
2020	15,324	15,324
2021	12,373	12,373
2022	9,373	9,373
2023	7,083	7,083
Thereafter	31,199	31,199
Total lease payments	79,708	79,708
Less: Imputed interest	(12,505)	(12,505)
Legally binding minimum lease payments for leases signed but not yet commenced	31,300	31,300
Maturity of Lease Liabilities
2019				17,509
2020				13,162
2021				10,516
2022				7,979
2023				6,535
Thereafter				29,658
Total lease payments				$ 85,359
Building right-of-use asset
Assets and Liabilities, Lessee [Abstract]
Asset impairments	600
Building
Assets and Liabilities, Lessee [Abstract]
Total right-of-use assets - net	58,183	58,183
Equipment
Assets and Liabilities, Lessee [Abstract]
Total right-of-use assets - net	$ 6,677	$ 6,677
Building and Equipment
Lease, Cost [Abstract]
Weighted-average remaining lease term (years): Operating leases	7 years 11 months 19 days	7 years 11 months 19 days
Weighted-average discount rate: Operating leases	4.02%	4.02%
Vehicles
Lease, Cost [Abstract]
Weighted-average remaining lease term (years): Operating leases	2 years 2 months 23 days	2 years 2 months 23 days
Weighted-average discount rate: Operating leases	3.09%	3.09%

Restructuring - Narrative (Deta

Restructuring - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2019	Sep. 30, 2019	Sep. 30, 2018	Dec. 31, 2018
Restructuring Cost and Reserve [Line Items]
Asset impairments	$ 9,700	$ 9,680	$ 0
Definite-lived intangible assets	7,100
Restructuring reserve	3,280	$ 3,280		$ 6,170
Property, plant and equipment
Restructuring Cost and Reserve [Line Items]
Asset impairments	2,000
Building right-of-use asset
Restructuring Cost and Reserve [Line Items]
Asset impairments	600
Customer relationships
Restructuring Cost and Reserve [Line Items]
Definite-lived intangible assets	6,100
Unpatented technology
Restructuring Cost and Reserve [Line Items]
Definite-lived intangible assets	$ 1,000

Restructuring - Restructuring C

Restructuring - Restructuring Costs (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Restructuring Cost and Reserve [Line Items]
Total restructuring costs	$ 11,956	$ 4,621	$ 14,082	$ 8,251
Operating Segments | Fluid & Metering Technologies
Restructuring Cost and Reserve [Line Items]
Total restructuring costs	0		930
Operating Segments | Health & Science Technologies
Restructuring Cost and Reserve [Line Items]
Total restructuring costs	11,196		11,526
Operating Segments | Fire & Safety/Diversified Products
Restructuring Cost and Reserve [Line Items]
Total restructuring costs	104		923
Corporate/Other
Restructuring Cost and Reserve [Line Items]
Total restructuring costs	656		703
Severance Costs
Restructuring Cost and Reserve [Line Items]
Total restructuring costs	1,924		3,766
Severance Costs | Operating Segments | Fluid & Metering Technologies
Restructuring Cost and Reserve [Line Items]
Total restructuring costs	0		930
Severance Costs | Operating Segments | Health & Science Technologies
Restructuring Cost and Reserve [Line Items]
Total restructuring costs	1,164		1,210
Severance Costs | Operating Segments | Fire & Safety/Diversified Products
Restructuring Cost and Reserve [Line Items]
Total restructuring costs	104		923
Severance Costs | Corporate/Other
Restructuring Cost and Reserve [Line Items]
Total restructuring costs	656		703
Exit Costs
Restructuring Cost and Reserve [Line Items]
Total restructuring costs	352		636
Exit Costs | Operating Segments | Fluid & Metering Technologies
Restructuring Cost and Reserve [Line Items]
Total restructuring costs	0		0
Exit Costs | Operating Segments | Health & Science Technologies
Restructuring Cost and Reserve [Line Items]
Total restructuring costs	352		636
Exit Costs | Operating Segments | Fire & Safety/Diversified Products
Restructuring Cost and Reserve [Line Items]
Total restructuring costs	0		0
Exit Costs | Corporate/Other
Restructuring Cost and Reserve [Line Items]
Total restructuring costs	0		0
Asset Impairment
Restructuring Cost and Reserve [Line Items]
Total restructuring costs	9,680		9,680
Asset Impairment | Operating Segments | Fluid & Metering Technologies
Restructuring Cost and Reserve [Line Items]
Total restructuring costs	0		0
Asset Impairment | Operating Segments | Health & Science Technologies
Restructuring Cost and Reserve [Line Items]
Total restructuring costs	9,680		9,680
Asset Impairment | Operating Segments | Fire & Safety/Diversified Products
Restructuring Cost and Reserve [Line Items]
Total restructuring costs	0		0
Asset Impairment | Corporate/Other
Restructuring Cost and Reserve [Line Items]
Total restructuring costs	$ 0		$ 0

Restructuring - Restructuring A

Restructuring - Restructuring Accruals (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2019USD ($)
Restructuring Reserve [Roll Forward]
Balance at January 1, 2019	$ 6,170
Restructuring expenses	4,402
Payments, utilization and other	(7,292)
Balance at September 30, 2019	$ 3,280

Other Comprehensive Income (L_3

Other Comprehensive Income (Loss) - Components of Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Accumulated Other Comprehensive Income (Loss) [Line Items]
Other comprehensive income (loss)	$ (34,952)	$ 11,678	$ (30,636)	$ (18,160)
Cumulative translation adjustment
Accumulated Other Comprehensive Income (Loss) [Line Items]
Total other comprehensive income (loss), Pre-tax	(37,825)	9,164	(38,478)	(25,903)
Total other comprehensive income (loss), Tax	0	0	0	0
Other comprehensive income (loss)	(37,825)	9,164	(38,478)	(25,903)
Pension and other postretirement adjustments
Accumulated Other Comprehensive Income (Loss) [Line Items]
Total other comprehensive income (loss), Pre-tax	2,188	1,725	5,579	5,396
Total other comprehensive income (loss), Tax	(525)	(455)	(1,398)	(1,417)
Other comprehensive income (loss)	1,663	1,270	4,181	3,979
Reclassification adjustments for derivatives
Accumulated Other Comprehensive Income (Loss) [Line Items]
Total other comprehensive income (loss), Pre-tax	1,566	1,610	4,737	4,869
Total other comprehensive income (loss), Tax	(356)	(366)	(1,076)	(1,105)
Other comprehensive income (loss)	1,210	1,244	3,661	3,764
AOCI
Accumulated Other Comprehensive Income (Loss) [Line Items]
Total other comprehensive income (loss), Pre-tax	(34,071)	12,499	(28,162)	(15,638)
Total other comprehensive income (loss), Tax	(881)	(821)	(2,474)	(2,522)
Other comprehensive income (loss)	$ (34,952)	$ 11,678	$ (30,636)	$ (18,160)

Other Comprehensive Income (L_4

Other Comprehensive Income (Loss) - Amounts Reclassified from Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands	3 Months Ended						9 Months Ended
	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Sep. 30, 2019	Sep. 30, 2018
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Amortization of net (gain) loss	$ 1,219			$ 934			$ 701	$ (3,565)
Reclassification adjustments	11,330			10,958			33,262	33,098
Income before income taxes	(129,216)			(133,241)			(410,867)	(400,114)
Provision for income taxes	24,022			26,889			82,196	87,678
Net income	(105,194)	$ (113,209)	$ (110,268)	(106,352)	$ (107,126)	$ (98,958)	(328,671)	(312,436)
Reclassification out of Accumulated Other Comprehensive Income | Net Prior Service Attributable to Parent
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Amortization of net (gain) loss	2,188			1,725			5,579	5,396
Reclassification out of Accumulated Other Comprehensive Income | Retirement Benefits Adjustment
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Income before income taxes	2,188			1,725			5,579	5,396
Provision for income taxes	(525)			(455)			(1,398)	(1,417)
Net income	1,663			1,270			4,181	3,979
Reclassification out of Accumulated Other Comprehensive Income | Cumulative Unrealized Gain (Loss) on Derivatives
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Reclassification adjustments	1,566			1,610			4,737	4,869
Income before income taxes	1,566			1,610			4,737	4,869
Provision for income taxes	(356)			(366)			(1,076)	(1,105)
Net income	$ 1,210			$ 1,244			$ 3,661	$ 3,764

Common and Preferred Stock (Det

Common and Preferred Stock (Details) - USD ($)	Dec. 01, 2015	Oct. 31, 2018	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Sep. 30, 2019	Sep. 30, 2018	Dec. 31, 2018	Nov. 06, 2014
Equity [Abstract]
Increase in share repurchase authorized amount	$ 300,000,000
Stock repurchase program, authorized amount												$ 400,000,000
Purchase of common stock (in shares)			0	19,143	369,810	209,100	147,490	0	389,000	357,000
Repurchase of shares of common stock				$ 2,962,000	$ 51,706,000	$ 31,166,000	$ 20,494,000		$ 54,700,000	$ 51,700,000
Purchase of common stock		$ 1,000,000							54,668,000	$ 50,654,000
Remaining authorized repurchase amount			$ 322,300,000						$ 322,300,000
Common stock, authorized (in shares)			150,000,000						150,000,000		150,000,000
Common stock, par value (in dollars per share)			$ 0.01						$ 0.01		$ 0.01
Preferred stock, authorized (in shares)			5,000,000						5,000,000		5,000,000
Preferred stock, par value (in dollars per share)			$ 0.01						$ 0.01		$ 0.01
Preferred stock, shares outstanding (in shares)			0						0		0

Share Based Compensation - Narr

Share Based Compensation - Narrative (Details) - USD ($) $ in Millions	1 Months Ended	9 Months Ended	12 Months Ended
	Feb. 28, 2019	Sep. 30, 2019	Dec. 31, 2018
Stock Option
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period		4 years
Total unrecognized compensation cost		$ 15.2
Weighted-average period of total unrecognized compensation cost, in years		1 year 4 months 24 days
Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (in shares)		41,780
Total unrecognized compensation cost		$ 6.2
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)		25,950
Total unrecognized compensation cost		$ 4.3
Weighted-average period of total unrecognized compensation cost, in years		1 year
Performance Shares Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period			3 years
Granted (in shares)		56,860	69,995
Payout percent			250.00%
Stock issued during period (in shares)	174,994
Total unrecognized compensation cost		$ 10.8
Weighted-average period of total unrecognized compensation cost, in years		1 year

Share-Based Compensation - Sche

Share-Based Compensation - Schedule of Weighted Average Option Fair Values and Assumptions (Details) - Stock Option - $ / shares	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average fair value of grants (in dollars per share)	$ 27.72	$ 40.83	$ 35.15	$ 38.14
Dividend yield	1.27%	1.14%	1.18%	1.07%
Volatility	22.33%	27.81%	24.78%	28.47%
Risk-free interest rate, minimum	1.75%	2.47%	2.53%	2.02%
Risk-free interest rate, maximum	1.77%	3.07%	3.04%	3.17%
Expected life (in years)	4 years 7 months 24 days	5 years 9 months 21 days	5 years 10 months 13 days	5 years 9 months 29 days

Share-Based Compensation - Sc_2

Share-Based Compensation - Schedule of Compensation Cost for Stock Options (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share-based compensation expense			$ 20,620	$ 19,814
Stock Option
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share-based compensation expense	$ 2,211	$ 2,020	7,019	6,722
Income tax benefit	(288)	(385)	(940)	(1,219)
Total expense after income taxes	1,923	1,635	6,079	5,503
Stock Option | Cost of goods sold
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share-based compensation expense	74	91	356	388
Stock Option | Selling, general and administrative expenses
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share-based compensation expense	$ 2,137	$ 1,929	$ 6,663	$ 6,334

Share-Based Compensation - Stoc

Share-Based Compensation - Stock Options Activity (Details) - Stock Option - USD ($)	9 Months Ended	12 Months Ended
	Sep. 30, 2019	Dec. 31, 2018
Shares
Beginning balance (in shares)	1,714,003
Granted (in shares)	335,095
Exercised (in shares)	(513,317)
Forfeited/Expired (in shares)	(90,067)
Ending balance (in shares)	1,445,714	1,714,003
Vested and expected to vest (in shares)	1,346,871
Exercisable (in shares)	649,766
Weighted Average Price
Beginning Balance, Weighted Average Price (in dollars per share)	$ 85.08
Granted, Weighted Average Price (in dollars per share)	144.91
Exercised, Weighted Average Price (in dollars per share)	69.34
Forfeited, Weighted Average Price (in dollars per share)	114.85
Ending Balance, Weighted Average Price (in dollars per share)	$ 102.69	$ 85.08
Weighted-Average Remaining Contractual Term
Stock options outstanding, Weighted-Average Remaining Contractual Term	7 years 1 month 17 days	6 years 8 months 12 days
Aggregate Intrinsic Value
Stock options outstanding, Aggregate intrinsic value	$ 88,375,713	$ 74,191,783
Vested and expected to vest , Weighted Average Price (in dollars per share)	$ 100.97
Exercisable, Weighted Average Price (in dollars per share)	$ 78.22
Weighted-Average Remaining Contractual Term, Vested and expected to vest	7 years 14 days
Weighted-Average Remaining Contractual Term, Exercisable	5 years 8 months 8 days
Aggregate Intrinsic Value, Vested and expected to vest	$ 84,725,335
Aggregate Intrinsic Value, Exercisable	$ 55,657,413

Share-Based Compensation - Rest

Share-Based Compensation - Restricted Stock Units Activity (Details) - Restricted Stock	9 Months Ended
	Sep. 30, 2019$ / sharesshares
Shares
Unvested, Beginning balance (in shares) | shares	148,041
Granted (in shares) | shares	41,780
Vested (in shares) | shares	(50,892)
Forfeited (in shares) | shares	(12,390)
Unvested, Ending balance (in shares) | shares	126,539
Weighted-Average Grant Date Fair Value
Unvested, Beginning balance (in dollars per share) | $ / shares	$ 101.50
Granted (in dollars per share) | $ / shares	143.13
Vested (in dollars per share) | $ / shares	80.51
Forfeited (in dollars per share) | $ / shares	122.52
Unvested, Ending balance (in dollars per share) | $ / shares	$ 122.69

Share-Based Compensation - Sc_3

Share-Based Compensation - Schedule of Compensation Cost for Restricted Stock Units (Details) - Restricted Stock - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total expense before income taxes	$ 1,084	$ 979	$ 3,611	$ 3,471
Income tax benefit	(204)	(177)	(684)	(620)
Total expense after income taxes	880	802	2,927	2,851
Cost of goods sold
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total expense before income taxes	(10)	77	192	316
Selling, general and administrative expenses
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total expense before income taxes	$ 1,094	$ 902	$ 3,419	$ 3,155

Share-Based Compensation - Cash

Share-Based Compensation - Cash-settled Restricted Stock Activity (Details) - Cash-settled Restricted Stock	9 Months Ended
	Sep. 30, 2019$ / sharesshares
Shares
Unvested, Beginning balance (in shares) | shares	88,225
Granted (in shares) | shares	25,950
Vested (in shares) | shares	(28,150)
Forfeited (in shares) | shares	(9,040)
Unvested, Ending balance (in shares) | shares	76,985
Weighted-Average Grant Date Fair Value
Unvested, Beginning balance (in dollars per share) | $ / shares	$ 126.26
Granted (in dollars per share) | $ / shares	143.14
Vested (in dollars per share) | $ / shares	144.27
Forfeited (in dollars per share) | $ / shares	159.68
Unvested, Ending balance (in dollars per share) | $ / shares	$ 172.08

Share-Based Compensation - Sc_4

Share-Based Compensation - Schedule of Compensation Cost for Cash-settled Restricted Stock (Details) - Cash-settled Restricted Stock - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total expense before income taxes	$ 553	$ 1,445	$ 4,086	$ 3,672
Income tax benefit	(67)	(158)	(413)	(368)
Total expense after income taxes	486	1,287	3,673	3,304
Cost of goods sold
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total expense before income taxes	118	381	954	896
Selling, general and administrative expenses
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total expense before income taxes	$ 435	$ 1,064	$ 3,132	$ 2,776

Share-Based Compensation - Sc_5

Share-Based Compensation - Schedule of Weighted Average Performance Share Units Fair Values and Assumptions (Details) - Performance Shares Units - $ / shares	9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average fair value of grants (in dollars per share)	$ 207.26	$ 216.59
Dividend yield	0.00%	0.00%
Volatility	19.11%	17.42%
Risk-free interest rate	2.49%	2.40%
Expected life (in years)	2 years 9 months 29 days	2 years 10 months 6 days

Share-Based Compensation - Perf

Share-Based Compensation - Performance Share Unit Activity (Details) - Performance Shares Units - $ / shares	9 Months Ended	12 Months Ended
	Sep. 30, 2019	Dec. 31, 2018
Shares
Unvested, Beginning balance (in shares)	111,155
Granted (in shares)	56,860	69,995
Vested (in shares)	0
Forfeited (in shares)	(12,895)
Unvested, Ending balance (in shares)	155,120	111,155
Weighted-Average Grant Date Fair Value
Unvested, Beginning balance (in dollars per share)	$ 142.42
Granted (in dollars per share)	207.26
Vested (in dollars per share)	0
Forfeited (in dollars per share)	125.03
Unvested, Ending balance (in dollars per share)	$ 178.97	$ 142.42

Share-Based Compensation - Sc_6

Share-Based Compensation - Schedule of Compensation Cost for Performance Share Units (Details) - Performance Shares Units - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total expense before income taxes	$ 2,359	$ 2,118	$ 5,904	$ 5,949
Income tax benefit	(196)	(418)	(447)	(1,123)
Total expense after income taxes	2,163	1,700	5,457	4,826
Cost of goods sold
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total expense before income taxes	0	0	0	0
Selling, general and administrative expenses
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total expense before income taxes	$ 2,359	$ 2,118	$ 5,904	$ 5,949

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		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Other Postretirement Benefits
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Service cost	$ 141	$ 167	$ 421	$ 502
Interest cost	212	202	636	608
Net amortization	(159)	(185)	(476)	(553)
Net periodic benefit cost	194	184	581	557
U.S. | Pension Benefits
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Service cost	484	156	901	665
Interest cost	764	669	2,292	1,975
Expected return on plan assets	(801)	(991)	(2,403)	(2,957)
Settlement loss recognized	486	0	486	0
Net amortization	487	664	1,460	2,034
Net periodic benefit cost	1,420	498	2,736	1,717
Non-U.S. | Pension Benefits
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Service cost	462	520	1,386	1,592
Interest cost	355	341	1,081	1,053
Expected return on plan assets	(258)	(276)	(784)	(848)
Settlement loss recognized	0	0	0	0
Net amortization	276	312	840	964
Net periodic benefit cost	$ 835	$ 897	$ 2,523	$ 2,761

Retirement Benefits - Narrative

Retirement Benefits - Narrative (Details) $ in Millions	3 Months Ended	9 Months Ended
	Sep. 30, 2019USD ($)employee	Sep. 30, 2019USD ($)employee	Dec. 31, 2018USD ($)
Defined Benefit Plan Disclosure [Line Items]
Contributions by employer		$ 0.1
Participants affected due to plan freeze | employee	60	60
Decrease in liability due to plan freeze		$ 1.2
Other (Income) Expense Net
Defined Benefit Plan Disclosure [Line Items]
Settlement loss recognized	$ (0.5)	$ 0.5
Pension Benefits
Defined Benefit Plan Disclosure [Line Items]
Expected contribution for next fiscal year			$ 0.6
Other Postretirement Benefits
Defined Benefit Plan Disclosure [Line Items]
Expected contribution for next fiscal year			$ 1.1

Income Taxes (Details)

Income Taxes (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Income Tax Disclosure [Abstract]
Provision for income taxes	$ 24,022,000	$ 26,889,000	$ 82,196,000	$ 87,678,000
Effective tax rate	18.60%	20.20%	20.00%	21.90%
Minimum
Significant Change in Unrecognized Tax Benefits is Reasonably Possible [Line Items]
Increase in unrecognized tax benefits is reasonably possible	$ 0		$ 0
Maximum
Significant Change in Unrecognized Tax Benefits is Reasonably Possible [Line Items]
Increase in unrecognized tax benefits is reasonably possible	$ 800,000		$ 800,000