IDEX (IEX) 10-Q 1 Aug 24 2024 Q2 Quarterly report Financial data

Cover Page

Cover Page - shares	6 Months Ended
	Jun. 30, 2024	Jul. 26, 2024
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2024
Document Transition Report	false
Entity File Number	1-10235
Entity Registrant Name	IDEX CORP
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	36-3555336
Entity Address, Address Line One	3100 Sanders Road,
Entity Address, Address Line Two	Suite 301,
Entity Address, City or Town	Northbrook,
Entity Address, State or Province	IL
Entity Address, Postal Zip Code	60062
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		75,703,395
Amendment Flag	false
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q2
Entity Central Index Key	0000832101
Current Fiscal Year End Date	--12-31

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF INCOME - USD ($) shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Income Statement [Abstract]
Net sales	$ 807.2	$ 846.2	$ 1,607.7	$ 1,691.6
Cost of sales	440.4	468.2	883.5	931.1
Gross profit	366.8	378	724.2	760.5
Selling, general and administrative expenses	182.8	174.3	377.9	364
Restructuring expenses and asset impairments	1.3	3.6	2.4	4.1
Operating income	182.7	200.1	343.9	392.4
Gain on sale of business	(4.6)	0	(4.6)	0
Other expense (income) – net	0	8.3	(2.7)	7.7
Interest expense – net	8.1	13.3	17.5	26.4
Income before income taxes	179.2	178.5	333.7	358.3
Provision for income taxes	38	40	71.2	80
Net income	141.2	138.5	262.5	278.3
Net loss attributable to noncontrolling interest	0.1	0.1	0.2	0.1
Net income attributable to IDEX	$ 141.3	$ 138.6	$ 262.7	$ 278.4
Earnings per common share:
Basic earnings per common share attributable to IDEX (in dollars per share)	$ 1.86	$ 1.83	$ 3.46	$ 3.68
Diluted earnings per common share attributable to IDEX (in dollars per share)	$ 1.86	$ 1.82	$ 3.46	$ 3.66
Share data:
Basic weighted average common shares outstanding (in shares)	75.7	75.6	75.7	75.6
Diluted weighted average common shares outstanding (in shares)	75.9	75.9	75.9	75.9

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Statement of Comprehensive Income [Abstract]
Net income	$ 141.2	$ 138.5	$ 262.5	$ 278.3
Other comprehensive (loss) income:
Pension and other postretirement adjustments, net of tax	(0.2)	(0.9)	(0.3)	(0.5)
Cumulative translation adjustment	(6)	2.3	(70.3)	38.9
Other comprehensive (loss) income	(6.2)	1.4	(70.6)	38.4
Comprehensive income	135	139.9	191.9	316.7
Comprehensive loss attributable to noncontrolling interest	0.1	0.1	0.2	0.1
Comprehensive income attributable to IDEX	$ 135.1	$ 140	$ 192.1	$ 316.8

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
Current assets
Cash and cash equivalents	$ 700.7	$ 534.3
Receivables – net	426.2	427.8
Inventories – net	427.9	420.8
Other current assets	74.7	63.4
Total current assets	1,629.5	1,446.3
Property, plant and equipment – net of accumulated depreciation of $564.8 and $545.7, respectively	419.1	430.3
Goodwill	2,787.2	2,838.3
Intangible assets – net	930.9	1,011.8
Other noncurrent assets	136.6	138.5
Total assets	5,903.3	5,865.2
Current liabilities
Trade accounts payable	172.4	179.7
Accrued expenses	252	271.5
Current portion of long-term borrowings	0.6	0.6
Dividends payable	52.4	48.5
Total current liabilities	477.4	500.3
Long-term borrowings – net	1,297.3	1,325.1
Deferred income taxes	281.3	291.9
Other noncurrent liabilities	193.9	206.7
Total liabilities	2,249.9	2,324
Commitments and contingencies (Note 14)
Preferred stock:
Authorized: 5.0 million shares, $.01 per share par value; Issued: None	0	0
Common stock:
Authorized: 150.0 million shares, $.01 per share par value Issued: 90.1 million shares at both June 30, 2024 and December 31, 2023	0.9	0.9
Treasury stock at cost: 14.2 million shares at June 30, 2024 and 14.3 million shares at December 31, 2023	(1,179.1)	(1,187)
Additional paid-in capital	855.9	839
Retained earnings	4,092.5	3,934.3
Accumulated other comprehensive loss	(116.4)	(45.8)
Total shareholders’ equity	3,653.8	3,541.4
Noncontrolling interest	(0.4)	(0.2)
Total equity	3,653.4	3,541.2
Total liabilities and equity	$ 5,903.3	$ 5,865.2

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
Statement of Financial Position [Abstract]
Accumulated depreciation	$ 564.8	$ 545.7
Preferred stock, authorized (in shares)	5,000,000	5,000,000
Preferred stock , par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, issued (in shares)	0	0
Common stock, authorized (in shares)	150,000,000	150,000,000
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, issued (in shares)	90,100,000	90,100,000
Treasury stock (in shares)	14,200,000	14,300,000

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF EQUITY - USD ($) shares in Thousands, $ in Millions	Total	Total Shareholders’ Equity	Common Stock Shares	Common Stock and Additional Paid-In Capital	Treasury Stock	Accumulated Other Comprehensive Loss	Retained Earnings	Noncontrolling Interest
Beginning balance (in shares) at Dec. 31, 2022			90,100
Beginning balance at Dec. 31, 2022	$ 3,039.6	$ 3,039.3		$ 818.1	$ (1,184.3)	$ (126.2)	$ 3,531.7	$ 0.3
Beginning balance (in shares) at Dec. 31, 2022					14,500
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	278.3	278.4					278.4	(0.1)
Cumulative translation adjustment	38.9	38.9				38.9
Net change in retirement obligations (net of tax)	(0.5)	(0.5)				(0.5)
Net issuance of shares of common stock (net of tax) (in shares)					(100)
Net issuance of shares of common stock (net of tax)	3.4	3.4			$ 3.4
Repurchases of common stock	(1.1)	(1.1)			(1.1)
Share-based compensation	17	17		17
Cash dividends declared	(96.7)	(96.7)					(96.7)
Ending balance (in shares) at Jun. 30, 2023			90,100
Ending balance at Jun. 30, 2023	3,278.9	3,278.7		835.1	$ (1,182)	(87.8)	3,713.4	0.2
Ending balance (in shares) at Jun. 30, 2023					14,400
Beginning balance (in shares) at Mar. 31, 2023			90,100
Beginning balance at Mar. 31, 2023	3,229.5	3,229.2		830.9	$ (1,184)	(89.2)	3,671.5	0.3
Beginning balance (in shares) at Mar. 31, 2023					14,400
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	138.5	138.6					138.6	(0.1)
Cumulative translation adjustment	2.3	2.3				2.3
Net change in retirement obligations (net of tax)	(0.9)	(0.9)				(0.9)
Net issuance of shares of common stock (net of tax)	3.1	3.1			$ 3.1
Repurchases of common stock	(1.1)	(1.1)			(1.1)
Share-based compensation	4.2	4.2		4.2
Cash dividends declared	(96.7)	(96.7)					(96.7)
Ending balance (in shares) at Jun. 30, 2023			90,100
Ending balance at Jun. 30, 2023	3,278.9	3,278.7		835.1	$ (1,182)	(87.8)	3,713.4	0.2
Ending balance (in shares) at Jun. 30, 2023					14,400
Beginning balance (in shares) at Dec. 31, 2023			90,100
Beginning balance at Dec. 31, 2023	$ 3,541.2	3,541.4		839.9	$ (1,187)	(45.8)	3,934.3	(0.2)
Beginning balance (in shares) at Dec. 31, 2023	14,300				14,300
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	$ 262.5	262.7					262.7	(0.2)
Cumulative translation adjustment	(70.3)	(70.3)				(70.3)
Net change in retirement obligations (net of tax)	(0.3)	(0.3)				(0.3)
Net issuance of shares of common stock (net of tax) (in shares)					(100)
Net issuance of shares of common stock (net of tax)	7.9	7.9			$ 7.9
Share-based compensation	16.9	16.9		16.9
Cash dividends declared	(104.5)	(104.5)					(104.5)
Ending balance (in shares) at Jun. 30, 2024			90,100
Ending balance at Jun. 30, 2024	$ 3,653.4	3,653.8		856.8	$ (1,179.1)	(116.4)	4,092.5	(0.4)
Ending balance (in shares) at Jun. 30, 2024	14,200				14,200
Beginning balance (in shares) at Mar. 31, 2024			90,100
Beginning balance at Mar. 31, 2024	$ 3,618.3	3,618.6		852.4	$ (1,179.3)	(110.2)	4,055.7	(0.3)
Beginning balance (in shares) at Mar. 31, 2024					14,200
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	141.2	141.3					141.3	(0.1)
Cumulative translation adjustment	(6)	(6)				(6)
Net change in retirement obligations (net of tax)	(0.2)	(0.2)				(0.2)
Net issuance of shares of common stock (net of tax)	0.2	0.2			$ 0.2
Share-based compensation	4.4	4.4		4.4
Cash dividends declared	(104.5)	(104.5)					(104.5)
Ending balance (in shares) at Jun. 30, 2024			90,100
Ending balance at Jun. 30, 2024	$ 3,653.4	$ 3,653.8		$ 856.8	$ (1,179.1)	$ (116.4)	$ 4,092.5	$ (0.4)
Ending balance (in shares) at Jun. 30, 2024	14,200				14,200

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF EQUITY (Parenthetical) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Statement of Stockholders' Equity [Abstract]
Change in retirement obligation, tax amount	$ 0.1	$ 0.4	$ 0.1	$ 0.2
Net issuance of shares of common stock, tax amount	$ 0.2	$ 0.3	$ 2.4	$ 2.1
Cash dividends declared, per common share outstanding (in dollars per share)	$ 1.38	$ 1.28	$ 1.38	$ 1.28

CONDENSED CONSOLIDATED STATEM_5

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Cash flows from operating activities
Net income	$ 262.5	$ 278.3
Adjustments to reconcile net income to net cash flows provided by operating activities:
Gain on sale of business	(4.6)	0
Credit loss on note receivable from collaborative partner	0	7.7
Depreciation	32.5	27.2
Amortization of intangible assets	48.5	46.8
Share-based compensation expense	16.9	17
Deferred income taxes	0.4	0
Changes in (net of the effect from acquisitions/divestitures and foreign currency translation):
Receivables – net	(11.9)	(5.8)
Inventories – net	(19.8)	(2)
Other current assets	(12.2)	(18.6)
Trade accounts payable	0.3	(17.9)
Deferred revenue	0.3	4.2
Accrued expenses	(21.9)	(52.5)
Other – net	(0.8)	4.7
Net cash flows provided by operating activities	290.2	289.1
Cash flows from investing activities
Capital expenditures	(35.9)	(48.2)
Acquisition of business, net of cash acquired	1.6	(110.3)
Proceeds from sale of business, net of cash remitted	45.5	0
Purchases of marketable securities	0	(19.1)
Other – net	0.5	1
Net cash flows provided by (used in) investing activities	11.7	(176.6)
Cash flows from financing activities
Proceeds from issuance of long-term borrowings	0	100
Payment of long-term borrowings	(25)	(100)
Cash dividends paid to shareholders	(100.7)	(93.9)
Proceeds from share issuances, net of shares withheld for taxes	7.9	3.4
Repurchases of common stock	0	(1)
Other – net	(0.4)	(0.5)
Net cash flows used in financing activities	(118.2)	(92)
Effect of exchange rate changes on cash and cash equivalents	(17.3)	6.3
Net increase in cash and cash equivalents	166.4	26.8
Cash and cash equivalents at beginning of year	534.3	430.2
Cash and cash equivalents at end of period	700.7	457
Cash paid for:
Interest	23	25.1
Income taxes – net	$ 84.6	$ 102.9

Basis of Presentation and Signi

Basis of Presentation and Significant Accounting Policies	6 Months Ended
	Jun. 30, 2024
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” or the “Company”) have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) applicable to interim financial information and the instructions to Form 10-Q under the Securities Exchange Act of 1934, as amended. The statements are unaudited but include all adjustments, consisting only of recurring items, except as noted, that the Company considers necessary for a fair presentation of the information set forth herein. The results of operations for the three and six months ended June 30, 2024 are not necessarily indicative of the results to be expected for the entire year. The Condensed Consolidated Financial Statements 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, 2023. Recently Issued Accounting Standards In November 2023, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures, which improves the disclosures required for reportable segments in the Company’s annual and interim financial statements, primarily through enhanced disclosures about significant segment expenses. ASU 2023-07 is effective for annual periods beginning after December 15, 2023 and interim periods within fiscal years beginning after December 15, 2024. Adoption of this ASU should be applied retrospectively to all prior periods presented in the financial statements. Early adoption is permitted. The Company is currently evaluating the impact of the adoption of this standard on the Consolidated Financial Statements and disclosures. In December 2023, the FASB issued ASU 2023-09, Improvements to Income Tax Disclosures, which requires public entities, on an annual basis, to disclose standard categories in tax rate reconciliation, additional information for reconciling items that meet a quantitative threshold and income taxes paid disaggregated by jurisdiction. ASU 2023-09 is effective for annual periods beginning after December 15, 2024. Adoption of this ASU should be applied prospectively, but may be applied retrospectively to all prior periods presented in the financial statements. Early adoption is permitted. The Company is currently evaluating the impact of the adoption of this standard on the Consolidated Financial Statements and disclosures.

Acquisitions and Divestitures

Acquisitions and Divestitures	6 Months Ended
	Jun. 30, 2024
Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]
Acquisitions and Divestitures	Acquisitions and Divestitures All of the Company’s acquisitions of businesses have been accounted for under Accounting Standards Codification (“ASC”) 805, Business Combinations . Accordingly, the assets and liabilities of the acquired companies, after adjustments to reflect the fair values assigned to the assets and liabilities, have been included in the Condensed Consolidated Balance Sheets from their respective dates of acquisition. The results of operations of businesses acquired have been included in the Condensed Consolidated Statements of Income since their respective dates of acquisition. Supplemental pro forma information has not been provided as the acquisitions did not have a material impact on the Condensed Consolidated Financial Statements individually or in the aggregate. The Company makes a preliminary allocation of the purchase price for each 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, primarily related to the valuations of these assets and liabilities, and continues to integrate the newly acquired business, the Company will refine the estimates of fair value and more accurately allocate the purchase price through the completion of the measurement period, which is not to exceed one year from the date of acquisition. Only items that existed as of the acquisition date are considered for subsequent adjustment to the purchase price allocation. Pending Acquisitions Mott Corporation On July 23, 2024, the Company entered into a definitive agreement to acquire Mott Corporation and its subsidiaries (“Mott”) for cash consideration of $1.0 billion, subject to customary adjustments. The acquisition is expected to close by the end of the third quarter of this year, subject to regulatory approvals and customary closing conditions. The acquisition is expected to be funded using a combination of cash on hand, borrowings under the Company’s Revolving Credit Facility and potential debt issuance. Mott is a leading microfiltration business specializing in the design, customization and manufacturing of sintered porous metal components and engineered solutions used in fluidic applications. Mott will operate in the Company’s Health & Science Technologies segment. 2024 Acquisitions Subterra AI, Inc. On July 25, 2024, the Company acquired Subterra, AI, Inc. (“Subterra AI”) for cash consideration of $7.5 million, subject to customary adjustments. Subterra AI is a technology company that specializes in digitizing underground infrastructure. Subterra AI will operate in the Company’s Fluid Metering and Technologies segment. 2023 Acquisitions Iridian On May 19, 2023, the Company acquired Iridian Spectral Technologies (“Iridian”) in a stock acquisition. Iridian is a global leader in designing and manufacturing thin-film, multi-layer optical filters serving the laser communications, telecommunications and life sciences markets and expands the Company’s array of optical technology offerings. Headquartered in Ottawa, Canada, Iridian operates in the Company’s Scientific Fluidics & Optics reporting unit within the Health & Science Technologies segment. Iridian was acquired for cash consideration of $109.8 million. The entire purchase price was funded with cash on hand. Goodwill and intangible assets recognized as part of this transaction were $54.2 million and $44.1 million, respectively. The goodwill is not deductible for tax purposes. The goodwill recorded for the acquisition reflects the strategic fit, revenue and earnings growth potential of the acquired business. As of June 30, 2024, the final allocation of the purchase price to the assets acquired and liabilities assumed, based on their estimated fair values at the acquisition date, is as follows: Total Current assets, net of cash acquired $ 10.6 Property, plant and equipment 19.4 Goodwill 54.2 Intangible assets 44.1 Other noncurrent assets 5.4 Total assets acquired 133.7 Current liabilities (1.2) Deferred income taxes (17.8) Other noncurrent liabilities (4.9) Net assets acquired $ 109.8 Acquired intangible assets consist of trade names, customer relationships and unpatented technology. The acquired intangible assets and weighted average amortization periods are as follows: Total Weighted Average Life Trade names $ 5.2 15 Customer relationships 27.8 12 Unpatented technology 11.1 11 Acquired intangible assets $ 44.1 STC On December 14, 2023, the Company acquired STC Material Solutions (“STC”) in a stock acquisition. STC specializes in the design and manufacturing of technical ceramics and hermetic sealing products for critical applications in the semiconductor, aerospace and defense, industrial technology, medical technology and energy markets. Headquartered in St. Albans, Vermont, with additional operations in Santa Ana, California, STC operates in the Company’s Scientific Fluidics & Optics reporting unit within the Health & Science Technologies segment. STC was acquired for cash consideration of $200.4 million. The entire purchase price was funded with cash on hand. Goodwill and intangible assets recognized as part of this transaction were $104.2 million and $92.3 million, respectively. The goodwill is not deductible for tax purposes. The goodwill recorded for the acquisition reflects the strategic fit, revenue and earnings growth potential of the acquired business. As of June 30, 2024, the preliminary allocation of the purchase price to the assets acquired and liabilities assumed, based on their estimated fair values at the acquisition date, is as follows: Total Current assets, net of cash acquired $ 16.9 Property, plant and equipment 12.7 Goodwill 104.2 Intangible assets 92.3 Other noncurrent assets 2.9 Total assets acquired 229.0 Current liabilities (5.5) Deferred income taxes (20.4) Other noncurrent liabilities (2.7) Net assets acquired (1) $ 200.4 (1) The Company finalized the purchase price of STC, resulting in a $1.6 million downward adjustment to the purchase price. Funds were received by the Company in April 2024. Acquired intangible assets consist of trade names, customer relationships and unpatented technology. The acquired intangible assets and weighted average amortization periods are as follows: Total Weighted Average Life Trade names $ 9.3 15 Customer relationships 63.0 15 Unpatented technology 20.0 11 Acquired intangible assets $ 92.3 Acquisition-Related Costs The Company incurred acquisition-related costs of $2.5 million during both the three months ended June 30, 2024 and 2023 and $3.8 million and $3.6 million during the six months ended June 30, 2024 and 2023, respectively. These costs were recorded in Selling, general and administrative expenses and were related to completed, pending and potential transactions, including transactions that ultimately were not completed. The Company also recorded a $2.5 million fair value inventory step-up charge associated with the completed 2023 acquisition of STC in Cost of sales during the six months ended June 30, 2024. There were no step-up charges recorded during the three months ended June 30, 2024. Divestitures The Company periodically reviews its businesses relative to its core business. As such, from time to time, the Company may sell various businesses or assets for a variety of reasons. Any resulting gain or loss recognized due to divestitures is recorded within Gain on sale of business in the Condensed Consolidated Statements of Income. On June 3, 2024, the Company completed the sale of Alfa Valvole, Srl (“Alfa Valvole”) for proceeds of $45.5 million, net of cash remitted, resulting in a gain on the sale of $4.6 million, net of a release of cumulative foreign currency translation losses of $5.5 million. There was no income tax impact associated with this transaction in the Condensed Consolidated Statements of Income due to the participation exemption of its consolidated group. The results of Alfa Valvole were reported in the Valves reporting unit within the Fluid & Metering Technologies segment through the date of disposition.

Business Segments

Business Segments	6 Months Ended
	Jun. 30, 2024
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”). When determining these reportable segments, the Company aggregated operating segments based on their similar economic and operating characteristics. Information on the Company’s business segments is presented below. The Company uses Adjusted EBITDA as its measure of segment performance. Intersegment sales are contracted with terms equivalent to those of an arm’s-length transaction. Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 NET SALES Fluid & Metering Technologies External customers $ 318.9 $ 324.1 $ 632.4 $ 645.2 Intersegment sales 0.5 1.0 0.7 1.7 Total segment sales 319.4 325.1 633.1 646.9 Health & Science Technologies External customers 303.0 338.4 612.4 688.7 Intersegment sales 0.8 1.1 1.5 1.8 Total segment sales 303.8 339.5 613.9 690.5 Fire & Safety/Diversified Products External customers 185.3 183.7 362.9 357.7 Intersegment sales 0.1 1.1 0.5 1.5 Total segment sales 185.4 184.8 363.4 359.2 Intersegment eliminations (1.4) (3.2) (2.7) (5.0) Net sales $ 807.2 $ 846.2 $ 1,607.7 $ 1,691.6 ADJUSTED EBITDA Fluid & Metering Technologies $ 107.7 $ 114.1 $ 213.1 $ 220.3 Health & Science Technologies 84.2 93.7 165.6 194.4 Fire & Safety/Diversified Products 53.8 54.5 105.2 104.2 Segment Adjusted EBITDA 245.7 262.3 483.9 518.9 Corporate and other (1) (21.5) (21.6) (51.4) (48.4) Interest expense – net (8.1) (13.3) (17.5) (26.4) Depreciation (2) (16.3) (14.4) (32.5) (27.2) Amortization of intangible assets (2) (23.9) (23.2) (48.5) (46.8) Fair value inventory step-up charges — — (2.5) — Restructuring expenses and asset impairments (1.3) (3.6) (2.4) (4.1) Gain on sale of business 4.6 — 4.6 — Credit loss on note receivable from collaborative partner (3) — (7.7) — (7.7) Income before income taxes $ 179.2 $ 178.5 $ 333.7 $ 358.3 (1) Corporate expenses that can be identified with a segment have been included in determining segment results. The remainder are included in Corporate and other. (2) Depreciation and amortization of intangible assets by segment for the three and six months ended June 30, 2024 and 2023 was: Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 Fluid & Metering Technologies $ 9.5 $ 9.8 $ 19.1 $ 18.9 Health & Science Technologies 26.7 23.7 53.8 46.9 Fire & Safety/Diversified Products 3.7 3.9 7.6 7.7 Corporate and other 0.3 0.2 0.5 0.5 Total $ 40.2 $ 37.6 $ 81.0 $ 74.0 (3) Represents a reserve on an investment with a collaborative partner recorded in Other expense (income) – net during the three and six months ended June 30, 2023. During the fourth quarter of 2023, the Company converted the promissory note receivable from the collaborative partner to equity, resulting in a cost method investment with zero value. June 30, 2024 December 31, 2023 ASSETS Fluid & Metering Technologies $ 1,653.1 $ 1,674.7 Health & Science Technologies 3,175.9 3,262.4 Fire & Safety/Diversified Products 823.3 792.6 Corporate and other 251.0 135.5 Total assets $ 5,903.3 $ 5,865.2

Revenue

Revenue	6 Months Ended
	Jun. 30, 2024
Revenue from Contract with Customer [Abstract]
Revenue	Revenue Disaggregation of Revenue The Company has a comprehensive offering of products, including technologies, built to customers’ specifications that are sold in niche markets throughout the world. The Company disaggregates revenue from contracts with customers by reporting unit and geographical region for each segment as the Company believes it best depicts how the amount, nature, timing and uncertainty of its revenue and cash flows are affected by economic factors. Revenue, presented as Net sales on the Condensed Consolidated Statements of Income, was attributed to geographical region based on the location of the customer. The following tables present revenue disaggregated by reporting unit and geographical region. Revenue by reporting unit for the three and six months ended June 30, 2024 and 2023 was as follows: Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 Pumps $ 101.4 $ 109.2 $ 203.3 $ 214.3 Water 88.9 87.3 171.9 181.4 Energy 57.7 55.7 110.3 106.4 Agriculture 38.6 40.1 78.3 78.7 Valves 32.8 32.8 69.3 66.1 Intersegment elimination (0.5) (1.0) (0.7) (1.7) Fluid & Metering Technologies 318.9 324.1 632.4 645.2 Scientific Fluidics & Optics 157.6 169.0 320.3 347.6 Sealing Solutions 59.8 62.4 120.3 127.1 Performance Pneumatic Technologies 59.3 66.0 116.8 135.4 Material Processing Technologies 27.1 33.0 56.5 60.7 Micropump (1) — 9.1 — 19.7 Intersegment elimination (0.8) (1.1) (1.5) (1.8) Health & Science Technologies 303.0 338.4 612.4 688.7 Fire & Safety 111.7 109.8 216.8 216.0 Dispensing 45.1 44.7 86.6 80.9 BAND-IT 28.6 30.3 60.0 62.3 Intersegment elimination (0.1) (1.1) (0.5) (1.5) Fire & Safety/Diversified Products 185.3 183.7 362.9 357.7 Net sales $ 807.2 $ 846.2 $ 1,607.7 $ 1,691.6 (1) Revenue from Micropump, Inc. (sold on August 3, 2023) has been included in the Condensed Consolidated Statements of Income through the date of disposition. Revenue by geographical region for the three and six months ended June 30, 2024 and 2023 was as follows: Three Months Ended June 30, 2024 FMT HST FSDP IDEX U.S. $ 181.2 $ 141.8 $ 84.5 $ 407.5 North America, excluding U.S. 17.3 4.7 8.9 30.9 Europe 55.3 98.5 46.3 200.1 Asia 41.5 53.8 36.5 131.8 Other (1) 24.1 5.0 9.2 38.3 Intersegment elimination (0.5) (0.8) (0.1) (1.4) Net sales $ 318.9 $ 303.0 $ 185.3 $ 807.2 Three Months Ended June 30, 2023 FMT HST FSDP IDEX U.S. $ 180.7 $ 148.5 $ 96.7 $ 425.9 North America, excluding U.S. 17.9 8.2 8.1 34.2 Europe 51.5 111.2 42.4 205.1 Asia 48.8 65.2 28.0 142.0 Other (1) 26.2 6.4 9.6 42.2 Intersegment elimination (1.0) (1.1) (1.1) (3.2) Net sales $ 324.1 $ 338.4 $ 183.7 $ 846.2 Six Months Ended June 30, 2024 FMT HST FSDP IDEX U.S. $ 353.8 $ 280.7 $ 170.6 $ 805.1 North America, excluding U.S. 33.6 10.3 16.3 60.2 Europe 114.1 202.6 91.3 408.0 Asia 86.2 109.5 67.2 262.9 Other (1) 45.4 10.8 18.0 74.2 Intersegment elimination (0.7) (1.5) (0.5) (2.7) Net sales $ 632.4 $ 612.4 $ 362.9 $ 1,607.7 Six Months Ended June 30, 2023 FMT HST FSDP IDEX U.S. $ 357.5 $ 298.1 $ 186.1 $ 841.7 North America, excluding U.S. 37.3 13.4 16.6 67.3 Europe 110.7 232.1 87.1 429.9 Asia 93.9 131.8 51.4 277.1 Other (1) 47.5 15.1 18.0 80.6 Intersegment elimination (1.7) (1.8) (1.5) (5.0) Net sales $ 645.2 $ 688.7 $ 357.7 $ 1,691.6 (1) Other includes: South America, Middle East, Australia and Africa. Performance Obligations The Company’s performance obligations are satisfied either at a point in time or over time as work progresses. Revenue from products and services transferred to customers at a point in time comprised approximately 95% of the Company’s revenue and over time comprised approximately 5% of the Company’s revenue in all periods presented. Contract Assets and Liabilities The timing of billings and cash collections can result in customer receivables, billings in excess of revenue recognized, advance payments or deposits. Customer receivables include both amounts billed and currently due from customers as well as unbilled amounts (contract assets) and are included in Receivables – net on the Condensed Consolidated Balance Sheets. The composition of customer receivables was as follows: June 30, 2024 December 31, 2023 Billed receivables $ 407.6 $ 408.1 Unbilled receivables 8.5 10.9 Total customer receivables $ 416.1 $ 419.0 Billings in excess of revenue recognized, advance payments and deposits represent contract liabilities and are included in deferred revenue which is classified as current or noncurrent based on when the Company expects to recognize the revenue. The current portion is included in Accrued expenses and the noncurrent portion is included in Other noncurrent liabilities on the Condensed Consolidated Balance Sheets. The composition of deferred revenue was as follows: June 30, 2024 December 31, 2023 Deferred revenue – current $ 59.1 $ 55.9 Deferred revenue – noncurrent 17.4 17.3 Total deferred revenue $ 76.5 $ 73.2

Earnings Per Common Share

Earnings Per Common Share	6 Months Ended
	Jun. 30, 2024
Earnings Per Share [Abstract]
Earnings Per Common Share	Earnings Per Common Share Diluted earnings per common share (“EPS”) attributable to IDEX is computed by dividing Net income attributable to IDEX by the weighted average number of common shares outstanding (basic) plus common stock equivalents outstanding (diluted) for the period. Common stock equivalents consist of restricted stock, performance share units and stock options, which have been included in the calculation of weighted average common shares outstanding using the treasury stock method. ASC 260, Earnings Per Share (“ASC 260”) , concludes that all outstanding unvested share-based payment awards that contain rights to non-forfeitable 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 granted prior to the adoption of the 2024 Incentive Award Plan are participating securities. Under the 2024 Incentive Award Plan, dividend rights for restricted stock are subject to the same vesting requirements as the underlying restricted stock awards. Consequently, any restricted stock awarded under the 2024 Incentive Plan will not be considered participating securities. Accordingly, Diluted EPS attributable to IDEX was computed using the two-class method prescribed by ASC 260. Basic weighted average common shares outstanding reconciles to diluted weighted average common shares outstanding as follows: Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 Basic weighted average common shares outstanding 75.7 75.6 75.7 75.6 Dilutive effect of restricted stock, performance share units and stock options 0.2 0.3 0.2 0.3 Diluted weighted average common shares outstanding 75.9 75.9 75.9 75.9 Share-based payment awards of approximately 0.5 million and 0.2 million shares of common stock for the three months ended June 30, 2024 and 2023, respectively, and 0.5 million and 0.2 million shares of common stock for the six months ended June 30, 2024 and 2023, respectively, were not included in the computation of Diluted EPS attributable to IDEX because the effect of their inclusion would have been antidilutive.

Balance Sheet Components

Balance Sheet Components	6 Months Ended
	Jun. 30, 2024
Additional Financial Information Disclosure [Abstract]
Balance Sheet Components	Balance Sheet Components June 30, 2024 December 31, 2023 RECEIVABLES – NET Customers $ 416.1 $ 419.0 Other 17.5 16.3 Total 433.6 435.3 Less: allowance for credit losses 7.4 7.5 Receivables – net $ 426.2 $ 427.8 INVENTORIES – NET Raw materials and component parts $ 284.8 $ 268.1 Work in process 40.4 44.5 Finished goods 102.7 108.2 Inventories – net $ 427.9 $ 420.8 ACCRUED EXPENSES Payroll and related items $ 82.9 $ 97.1 Management incentive compensation 11.2 16.4 Income taxes payable 14.8 18.5 Deferred revenue 59.1 55.9 Lease liability 23.2 22.0 Other 60.8 61.6 Accrued expenses $ 252.0 $ 271.5

Goodwill and Intangible Assets

Goodwill and Intangible Assets	6 Months Ended
	Jun. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Intangible Assets	Goodwill and Intangible Assets The changes in the carrying amount of goodwill for the six months ended June 30, 2024, by reportable business segment, were as follows: FMT HST FSDP IDEX Goodwill $ 805.7 $ 1,834.5 $ 398.7 $ 3,038.9 Accumulated goodwill impairment losses (20.7) (149.8) (30.1) (200.6) Balance at January 1, 2024 785.0 1,684.7 368.6 2,838.3 Foreign currency translation (5.6) (30.8) (4.8) (41.2) Measurement period adjustments — 1.7 — 1.7 Divestitures (11.6) — — (11.6) Balance at June 30, 2024 $ 767.8 $ 1,655.6 $ 363.8 $ 2,787.2 ASC 350, Goodwill and Other Intangible Assets (“ASC 350”) , requires that goodwill be tested for impairment at the reporting unit level on an annual basis and between annual tests if an event occurs or circumstances change that would more likely than not reduce the fair value of the reporting unit below its carrying value. Annually, on October 31, goodwill and other acquired intangible assets with indefinite lives are tested for impairment. Based on the results of the Company’s annual impairment test at October 31, 2023, all reporting units had fair values in excess of their carrying values. During the six months ended June 30, 2024, there were no events or circumstances that would have required an interim impairment test. The following table provides the gross carrying value and accumulated amortization for each major class of intangible asset at June 30, 2024 and December 31, 2023: June 30, 2024 December 31, 2023 Gross Accumulated Net Weighted Gross Accumulated Net Amortized intangible assets: Patents $ 2.8 $ (2.1) $ 0.7 12 $ 2.7 $ (2.0) $ 0.7 Trade names 161.4 (54.2) 107.2 15 171.9 (54.3) 117.6 Customer relationships 818.6 (242.7) 575.9 13 860.7 (228.7) 632.0 Unpatented technology 228.2 (74.6) 153.6 12 233.5 (66.3) 167.2 Software 4.9 (2.3) 2.6 5 5.3 (1.9) 3.4 Total amortized intangible assets 1,215.9 (375.9) 840.0 13 1,274.1 (353.2) 920.9 Indefinite-lived intangible assets: Banjo trade name 62.1 — 62.1 62.1 — 62.1 Akron Brass trade name 28.8 — 28.8 28.8 — 28.8 Total intangible assets $ 1,306.8 $ (375.9) $ 930.9 $ 1,365.0 $ (353.2) $ 1,011.8 The Banjo and Akron Brass trade names 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. Based on the results of the Company’s annual impairment test at October 31, 2023, these indefinite-lived intangible assets had fair values in excess of their carrying values. During the six months ended June 30, 2024, there were no events or circumstances that would have required an interim impairment test on these indefinite-lived intangible assets. Amortization of intangible assets was $23.9 million and $48.5 million for the three and six months ended June 30, 2024 , respectively. Amortization of intangible assets wa s $23.2 million and $46.8 million for the three and six months ended June 30, 2023 , respectively. Based on the intangible asset balances as of June 30, 2024 , expected amortization expense for the remaining six months of 2024 and for the years 2025 through 2028 is as follows: Estimated Amortization Remainder of 2024 $ 47.3 2025 93.3 2026 91.6 2027 88.1 2028 85.1

Borrowings

Borrowings	6 Months Ended
	Jun. 30, 2024
Debt Disclosure [Abstract]
Borrowings	Borrowings Borrowings at June 30, 2024 and December 31, 2023 consisted of the following: June 30, 2024 December 31, 2023 3.37% Senior Notes, due June 2025 (the “3.37% Senior Notes”) (1) $ 100.0 $ 100.0 5.13% Senior Notes, due June 2028 (the “5.13% Senior Notes”) 100.0 100.0 3.00% Senior Notes, due May 2030 (the “3.00% Senior Notes”) 500.0 500.0 2.625% Senior Notes, due June 2031 (the “2.625% Senior Notes”) 500.0 500.0 $800.0 million Revolving Facility, due November 2027 (the “Revolving Facility”) (2) 78.1 81.0 $200.0 million Term Facility, due November 2027 (the “Term Facility”) (3) 25.0 50.0 Other borrowings 1.8 2.3 Total borrowings 1,304.9 1,333.3 Less: current portion 0.6 0.6 Less: deferred debt issuance costs 6.0 6.5 Less: unaccreted debt discount 1.0 1.1 Long-term borrowings $ 1,297.3 $ 1,325.1 (1) As of June 30, 2024, the $100.0 million 3.37% Senior Notes, due in June 2025, have been classified as Long-term borrowings on the Condensed Consolidated Balance Sheets. The Company has the ability and intent to either refinance or repay these Notes using the available borrowing capacity of the Revolving Facility, due November 2027. (2) At June 30, 2024, there was $78.1 million outstanding under the Revolving Facility and $2.7 million of outstanding letters of credit, resulting in a net available borrowing capacity under the Revolving Facility of approximately $719.2 million. The weighted-average interest rate for borrowings outstanding under the Revolving Facility was 4.60% and 4.22% as of June 30, 2024 and December 31, 2023, respectively. (3) The weighted-average interest rate for borrowings outstanding under the Term Facility was 6.65% and 6.22% as of June 30, 2024 and December 31, 2023, respectively. During the second quarter of 2024, the Company repaid $25.0 million of the $50.0 million previously outstanding under the Term Facility. At June 30, 2024, the Company was in compliance with the covenants contained in the credit agreement associated with the Revolving Facility as well as other long-term debt agreements.

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Jun. 30, 2024
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements ASC 820, Fair Value Measurements and Disclosures, defines fair value, provides guidance for measuring fair value and requires certain disclosures. This standard discusses valuation techniques, such as the market approach (comparable market prices), the income approach (present value of future income or cash flow) and the cost approach (cost to replace the service capacity of an asset or replacement cost). The standard utilizes a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value into three broad levels. The following is a brief description of those three levels: • Level 1: Observable inputs such as quoted prices (unadjusted) in active markets for identical assets or liabilities. • Level 2: Inputs, other than quoted prices that are observable for the asset or liability, either directly or indirectly. These include quoted prices for similar assets or liabilities in active markets and quoted prices for identical or similar assets or liabilities in markets that are not active. • Level 3: Unobservable inputs that reflect the reporting entity’s own assumptions. The following table summarizes the basis used to measure the Company’s financial assets (liabilities) at fair value on a recurring basis in the balance sheets at June 30, 2024 and December 31, 2023: Basis of Fair Value Measurements June 30, 2024 December 31, 2023 Level 1 Level 1 Trading securities - mutual funds held in nonqualified SERP (1) $ 10.3 $ 10.5 Available-for-sale securities - equities (2) 4.4 4.4 (1) The Supplemental Executive Retirement Plan (“SERP”) investment assets are offset by a SERP liability which represents the Company’s obligation to distribute SERP funds to participants. The SERP investment assets and liability are included in Other noncurrent assets and Other noncurrent liabilities, respectively, on the Condensed Consolidated Balance Sheets. (2) The securities are included in Other current assets on the Condensed Consolidated Balance Sheets and are available for overnight cash settlement, if necessary, to fund current operations. There were no transfers of assets or liabilities between Level 1 and Level 2 during the three and six months ended June 30, 2024 or the year ended December 31, 2023. The carrying values of the Company’s cash and cash equivalents, accounts receivable, accounts payable and accrued expenses approximate fair value because of the short-term nature of these instruments. The following table provides the fair value of the outstanding indebtedness described in Note 8 , “Borrowings,” which is based on quoted market prices and current market rates for debt with similar credit risk and maturity, as well as the carrying value. 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 the Company’s rating. June 30, 2024 December 31, 2023 Fair Value Carrying Amount Fair Value Carrying Amount Total Borrowings, less unaccreted debt discount $ 1,158.9 $ 1,303.9 $ 1,203.5 $ 1,332.2

Accumulated Other Comprehensive

Accumulated Other Comprehensive Loss	6 Months Ended
	Jun. 30, 2024
Equity [Abstract]
Accumulated Other Comprehensive Loss	Accumulated Other Comprehensive Loss The components of Accumulated other comprehensive loss for the three and six months ended June 30, 2024 and 2023 are as follows: Cumulative Translation Adjustment Pension and Other Postretirement Adjustments Accumulated Other Comprehensive Loss Three Months Ended June 30, 2024 Balance, March 31, 2024 (1) $ (113.6) $ 3.4 $ (110.2) Other comprehensive loss before reclassification adjustments (11.5) — (11.5) Gain reclassified from Accumulated other comprehensive loss (2)(3) — (0.3) (0.3) Loss reclassified related to divestitures (4) 5.5 — 5.5 Tax expense — 0.1 0.1 Net other comprehensive loss (1) (6.0) (0.2) (6.2) Balance, June 30, 2024 (1) $ (119.6) $ 3.2 $ (116.4) Six Months Ended June 30, 2024 Balance, December 31, 2023 (1) $ (49.3) $ 3.5 $ (45.8) Other comprehensive loss before reclassification adjustments (75.8) — (75.8) Gain reclassified from Accumulated other comprehensive loss (2)(3) — (0.4) (0.4) Loss reclassified related to divestitures (4) 5.5 — 5.5 Tax expense — 0.1 0.1 Net other comprehensive loss (1) (70.3) (0.3) (70.6) Balance, June 30, 2024 (1) $ (119.6) $ 3.2 $ (116.4) Three Months Ended June 30, 2023 Balance, March 31, 2023 (1) $ (100.5) $ 11.3 $ (89.2) Other comprehensive income before reclassification adjustments 2.3 — 2.3 Gain reclassified from Accumulated other comprehensive loss (2)(3) — (1.3) (1.3) Tax expense — 0.4 0.4 Net other comprehensive income (loss) (1) 2.3 (0.9) 1.4 Balance, June 30, 2023 (1) $ (98.2) $ 10.4 $ (87.8) Six Months Ended June 30, 2023 Balance, December 31, 2022 (1) $ (137.1) $ 10.9 $ (126.2) Other comprehensive income before reclassification adjustments 38.9 — 38.9 Gain reclassified from Accumulated other comprehensive loss (2)(3) — (0.7) (0.7) Tax expense — 0.2 0.2 Net other comprehensive income (loss) (1) 38.9 (0.5) 38.4 Balance, June 30, 2023 (1) $ (98.2) $ 10.4 $ (87.8) (1) Amounts are presented net of tax. (2) Included in the computation of net periodic cost. See Note 13 , “Retirement Benefits.” (3) Included in Other expense (income) – net in the Condensed Consolidated Statements of Income. (4) In conjunction with the divestiture of Alfa Valvole, the Company released the associated cumulative foreign currency translation losses and included the release as part of the gain on sale of business.

Share Repurchases

Share Repurchases	6 Months Ended
	Jun. 30, 2024
Equity [Abstract]
Share Repurchases	Share Repurchases On March 17, 2020, the Company’s Board of Directors approved an increase of $500.0 million in the authorized level of repurchases of common stock. This approval is in addition to the prior repurchase authorization of the Board of Directors of $300.0 million on December 1, 2015. These authorizations have no expiration date. There were no share repurchases during the six months ended June 30, 2024. During the six months ended June 30, 2023, the Company repurchased a total of 5,400 shares at a cost of $1.1 million, of which $0.1 million was settled in July 2023. As of June 30, 2024, the amount of share repurchase authorization remaining was $539.7 million.

Share-Based Compensation

Share-Based Compensation	6 Months Ended
	Jun. 30, 2024
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 the recommendation from the Compensation Committee. 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 share-based compensation cost within the Condensed Consolidated Statements of Income is consistent with the classification of cash compensation for the same employees. Stock Options Stock options granted under the Company’s plans are generally non-qualified and are granted with an exercise price equal to the market price of the Company’s stock on the date of grant. The fair value of each option grant was estimated on the date of the grant using the Black Scholes valuation model. Stock options generally vest ratably over four years, with vesting beginning one year from the date of grant, and generally expire 10 years from the date of grant. The service period for certain retiree eligible participants is accelerated. The assumptions used in determining the fair value of the stock options granted in the respective periods were as follows: Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 Weighted average fair value of grants $62.41 $57.13 $63.72 $60.70 Dividend yield 1.13% 1.13% 1.09% 1.07% Volatility 26.43% 27.20% 26.67% 27.19% Risk-free interest rate 4.42% 3.81% 4.31% 4.12% Expected life (in years) 4.60 4.50 4.60 4.50 A summary of the Company’s stock option activity as of June 30, 2024 and changes during the six months ended June 30, 2024 are presented in the following table: Stock Options Shares Weighted Weighted-Average Aggregate Outstanding at January 1, 2024 983,267 $ 178.86 6.88 $ 39.3 Granted 195,365 234.84 Exercised (66,464) 155.75 Forfeited (27,943) 199.50 Outstanding at June 30, 2024 1,084,225 $ 189.84 7.02 $ 23.5 Vested and expected to vest as of June 30, 2024 1,067,056 $ 189.46 7.00 $ 23.4 Exercisable at June 30, 2024 610,104 $ 167.42 5.69 $ 22.1 As of June 30, 2024, there was $12.8 million of total unrecognized compensation cost related to stock options that is expected to be recognized over a weighted-average period of 1.5 years. Restricted Stock Restricted stock awards generally cliff vest after three years for employees and non-employee directors. The service period for certain retiree eligible participants is accelerated. Unvested restricted stock carries dividend and voting rights and the sale of the shares is restricted prior to the date of vesting. Dividends are paid on restricted stock awards and their fair value is equal to the market price of the Company’s stock at the date of the grant. A summary of the Company’s restricted stock activity as of June 30, 2024 and changes during the six months ended June 30, 2024 are presented in the following table: Restricted Stock Shares Weighted-Average Unvested at January 1, 2024 112,891 $ 193.03 Granted 36,540 227.48 Vested (21,080) 198.38 Forfeited (8,810) 208.81 Unvested at June 30, 2024 119,541 $ 201.45 As of June 30, 2024, there was $8.7 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. 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. The service period for certain retiree eligible participants is accelerated. 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. At June 30, 2024 and December 31, 2023, the Company had accrued $3.3 million and $4.2 million, respectively, for cash-settled restricted stock in Accrued expenses in the Condensed Consolidated Balance Sheets and had accrued $1.8 million and $2.9 million, respectively, for cash-settled restricted stock in Other noncurrent liabilities in the Condensed Consolidated Balance Sheets. These recurring fair value measurements are classified as Level 1 in the fair value hierarchy. Dividend equivalents are paid on certain cash-settled restricted stock awards. A summary of the Company’s unvested cash-settled restricted stock activity as of June 30, 2024 and changes during the six months ended June 30, 2024 are presented in the following table: Cash-Settled Restricted Stock Shares Weighted-Average Unvested at January 1, 2024 56,655 $ 217.11 Granted 19,850 234.95 Vested (15,140) 235.65 Forfeited (3,925) 201.20 Unvested at June 30, 2024 57,440 $ 201.20 As of June 30, 2024, there was $4.9 million of total unrecognized compensation cost related to cash-settled restricted shares that is expected to be recognized over a weighted-average period of 1.1 years. Performance Share Units 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. The assumptions used in determining the fair value of the performance share units granted in the respective periods were as follows: Six Months Ended June 30, 2024 2023 Weighted average fair value of grants $349.59 $308.18 Dividend yield —% —% Volatility 22.23% 27.00% Risk-free interest rate 4.45% 4.37% Expected life (in years) 2.94 2.94 A summary of the Company’s performance share unit activity as of June 30, 2024 and changes during the six months ended June 30, 2024 are presented in the following table: Performance Share Units Shares Weighted-Average Unvested at January 1, 2024 67,455 $ 265.15 Granted 27,135 349.59 Vested (9,606) 245.40 Forfeited (11,239) 251.16 Unvested at June 30, 2024 73,745 $ 300.49 On January 31, 2024, 19,200 performance share units vested. Based on the Company’s relative total shareholder return rank during the three-year period ended January 31, 2024, the Company achieved a 50% payout factor and issued 9,606 common shares in February 2024 for awards that vested in 2024. As of June 30, 2024, there was $4.9 million of total unrecognized compensation cost related to performance share units that is expected to be recognized over a weighted-average period of 1.1 years. Summary of Share-Based Compensation Expense Pre-tax compensation cost is recognized in both Cost of sales and Selling, general and administrative expenses in the Condensed Consolidated Statements of Income depending on the functional area of the underlying employees. Total compensation cost related to all share-based awards was as follows: Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 Stock options expense $ 1.5 $ 1.5 $ 6.9 $ 7.5 Restricted stock expense 2.1 1.7 4.1 3.3 Cash-settled restricted stock expense (0.3) 0.6 1.6 1.7 Performance share units expense 0.8 0.8 5.9 6.0 Total pre-tax share-based compensation expense 4.1 4.6 18.5 18.5 Income tax benefit (0.7) (0.8) (1.6) (1.6) Total share-based compensation expense, net of income taxes $ 3.4 $ 3.8 $ 16.9 $ 16.9

Retirement Benefits

Retirement Benefits	6 Months Ended
	Jun. 30, 2024
Retirement Benefits [Abstract]
Retirement Benefits	Retirement Benefits The Company sponsors several qualified and nonqualified defined benefit and defined contribution pension plans as well as other postretirement plans for its employees. The following tables provide the components of net periodic cost for its major defined benefit plans and its other postretirement plans. Pension Benefits Three Months Ended June 30, 2024 2023 U.S. Non-U.S. U.S. Non-U.S. Service cost $ — $ 0.4 $ — $ 0.3 Interest cost 0.1 0.7 0.1 0.7 Expected return on plan assets — (0.5) — (0.4) Net amortization 0.1 (0.1) — (0.1) Net periodic cost $ 0.2 $ 0.5 $ 0.1 $ 0.5 Pension Benefits Six Months Ended June 30, 2024 2023 U.S. Non-U.S. U.S. Non-U.S. Service cost $ — $ 0.8 $ — $ 0.6 Interest cost 0.2 1.3 0.2 1.4 Expected return on plan assets (0.1) (0.9) (0.1) (0.8) Net amortization 0.2 (0.1) 0.1 (0.3) Net periodic cost $ 0.3 $ 1.1 $ 0.2 $ 0.9 Other Postretirement Benefits Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 Service cost $ 0.1 $ 0.1 $ 0.2 $ 0.2 Interest cost 0.2 0.2 0.4 0.4 Net amortization (0.3) (0.3) (0.5) (0.5) Net periodic cost $ — $ — $ 0.1 $ 0.1 The Company recognizes the service cost component in both Cost of sales and Selling, general and administrative expenses in the Condensed Consolidated Statements of Income depending on the functional area of the underlying employees and the interest cost, expected return on plan assets and net amortization components in Other expense (income) – net in the Condensed Consolidated Statements of Income. The Company expects to contribute approximately $3.6 million to its defined benefit plans and $1.1 million to its other postretirement benefit plans in 2024. The Company contributed a total of $2.4 million and $2.6 million to fund these plans during the six months ended June 30, 2024 and 2023, respectively.

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2024
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies 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	6 Months Ended
	Jun. 30, 2024
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 and the effective tax rates were as follows: Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 Provision for income taxes $ 38.0 $ 40.0 $ 71.2 $ 80.0 Effective tax rate 21.2 % 22.4 % 21.4 % 22.3 % The effective tax rate for the three and six months ended June 30, 2024 reflects the impact of the discrete benefits related to the finalization of prior years’ research and development tax incentives with taxing authorities in a foreign jurisdiction. The effective tax rate for the six months ended June 30, 2024 also reflects the discrete benefit related to the finalization of tax impacts of a previously recorded legal entity restructuring.

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Pay vs Performance Disclosure
Net Income (Loss)	$ 141.3	$ 138.6	$ 262.7	$ 278.4

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Jun. 30, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Basis of Presentation and Sig_2

Basis of Presentation and Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2024
Accounting Policies [Abstract]
Basis of Presentation	The Condensed Consolidated Financial Statements of IDEX Corporation (“IDEX” or the “Company”) have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) applicable to interim financial information and the instructions to Form 10-Q under the Securities Exchange Act of 1934, as amended. The statements are unaudited but include all adjustments, consisting only of recurring items, except as noted, that the Company considers necessary for a fair presentation of the information set forth herein. The results of operations for the three and six months ended June 30, 2024 are not necessarily indicative of the results to be expected for the entire year.
Recently Issued Accounting Standards	Recently Issued Accounting Standards In November 2023, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures, which improves the disclosures required for reportable segments in the Company’s annual and interim financial statements, primarily through enhanced disclosures about significant segment expenses. ASU 2023-07 is effective for annual periods beginning after December 15, 2023 and interim periods within fiscal years beginning after December 15, 2024. Adoption of this ASU should be applied retrospectively to all prior periods presented in the financial statements. Early adoption is permitted. The Company is currently evaluating the impact of the adoption of this standard on the Consolidated Financial Statements and disclosures. In December 2023, the FASB issued ASU 2023-09, Improvements to Income Tax Disclosures, which requires public entities, on an annual basis, to disclose standard categories in tax rate reconciliation, additional information for reconciling items that meet a quantitative threshold and income taxes paid disaggregated by jurisdiction. ASU 2023-09 is effective for annual periods beginning after December 15, 2024. Adoption of this ASU should be applied prospectively, but may be applied retrospectively to all prior periods presented in the financial statements. Early adoption is permitted. The Company is currently evaluating the impact of the adoption of this standard on the Consolidated Financial Statements and disclosures.

Acquisitions and Divestitures (

Acquisitions and Divestitures (Tables)	6 Months Ended
	Jun. 30, 2024
Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed	As of June 30, 2024, the final allocation of the purchase price to the assets acquired and liabilities assumed, based on their estimated fair values at the acquisition date, is as follows: Total Current assets, net of cash acquired $ 10.6 Property, plant and equipment 19.4 Goodwill 54.2 Intangible assets 44.1 Other noncurrent assets 5.4 Total assets acquired 133.7 Current liabilities (1.2) Deferred income taxes (17.8) Other noncurrent liabilities (4.9) Net assets acquired $ 109.8 As of June 30, 2024, the preliminary allocation of the purchase price to the assets acquired and liabilities assumed, based on their estimated fair values at the acquisition date, is as follows: Total Current assets, net of cash acquired $ 16.9 Property, plant and equipment 12.7 Goodwill 104.2 Intangible assets 92.3 Other noncurrent assets 2.9 Total assets acquired 229.0 Current liabilities (5.5) Deferred income taxes (20.4) Other noncurrent liabilities (2.7) Net assets acquired (1) $ 200.4 (1)
Schedule of Finite-Lived Intangible Assets Acquired	The acquired intangible assets and weighted average amortization periods are as follows: Total Weighted Average Life Trade names $ 5.2 15 Customer relationships 27.8 12 Unpatented technology 11.1 11 Acquired intangible assets $ 44.1 Total Weighted Average Life Trade names $ 9.3 15 Customer relationships 63.0 15 Unpatented technology 20.0 11 Acquired intangible assets $ 92.3

Business Segments (Tables)

Business Segments (Tables)	6 Months Ended
	Jun. 30, 2024
Segment Reporting [Abstract]
Schedule of Information on Company's Business Segments	Information on the Company’s business segments is presented below. The Company uses Adjusted EBITDA as its measure of segment performance. Intersegment sales are contracted with terms equivalent to those of an arm’s-length transaction. Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 NET SALES Fluid & Metering Technologies External customers $ 318.9 $ 324.1 $ 632.4 $ 645.2 Intersegment sales 0.5 1.0 0.7 1.7 Total segment sales 319.4 325.1 633.1 646.9 Health & Science Technologies External customers 303.0 338.4 612.4 688.7 Intersegment sales 0.8 1.1 1.5 1.8 Total segment sales 303.8 339.5 613.9 690.5 Fire & Safety/Diversified Products External customers 185.3 183.7 362.9 357.7 Intersegment sales 0.1 1.1 0.5 1.5 Total segment sales 185.4 184.8 363.4 359.2 Intersegment eliminations (1.4) (3.2) (2.7) (5.0) Net sales $ 807.2 $ 846.2 $ 1,607.7 $ 1,691.6 ADJUSTED EBITDA Fluid & Metering Technologies $ 107.7 $ 114.1 $ 213.1 $ 220.3 Health & Science Technologies 84.2 93.7 165.6 194.4 Fire & Safety/Diversified Products 53.8 54.5 105.2 104.2 Segment Adjusted EBITDA 245.7 262.3 483.9 518.9 Corporate and other (1) (21.5) (21.6) (51.4) (48.4) Interest expense – net (8.1) (13.3) (17.5) (26.4) Depreciation (2) (16.3) (14.4) (32.5) (27.2) Amortization of intangible assets (2) (23.9) (23.2) (48.5) (46.8) Fair value inventory step-up charges — — (2.5) — Restructuring expenses and asset impairments (1.3) (3.6) (2.4) (4.1) Gain on sale of business 4.6 — 4.6 — Credit loss on note receivable from collaborative partner (3) — (7.7) — (7.7) Income before income taxes $ 179.2 $ 178.5 $ 333.7 $ 358.3 (1) Corporate expenses that can be identified with a segment have been included in determining segment results. The remainder are included in Corporate and other. (2) Depreciation and amortization of intangible assets by segment for the three and six months ended June 30, 2024 and 2023 was: Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 Fluid & Metering Technologies $ 9.5 $ 9.8 $ 19.1 $ 18.9 Health & Science Technologies 26.7 23.7 53.8 46.9 Fire & Safety/Diversified Products 3.7 3.9 7.6 7.7 Corporate and other 0.3 0.2 0.5 0.5 Total $ 40.2 $ 37.6 $ 81.0 $ 74.0 (3) Represents a reserve on an investment with a collaborative partner recorded in Other expense (income) – net during the three and six months ended June 30, 2023. During the fourth quarter of 2023, the Company converted the promissory note receivable from the collaborative partner to equity, resulting in a cost method investment with zero value. June 30, 2024 December 31, 2023 ASSETS Fluid & Metering Technologies $ 1,653.1 $ 1,674.7 Health & Science Technologies 3,175.9 3,262.4 Fire & Safety/Diversified Products 823.3 792.6 Corporate and other 251.0 135.5 Total assets $ 5,903.3 $ 5,865.2

Revenue (Tables)

Revenue (Tables)	6 Months Ended
	Jun. 30, 2024
Revenue from Contract with Customer [Abstract]
Schedule of Disaggregation of Revenue	Revenue by reporting unit for the three and six months ended June 30, 2024 and 2023 was as follows: Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 Pumps $ 101.4 $ 109.2 $ 203.3 $ 214.3 Water 88.9 87.3 171.9 181.4 Energy 57.7 55.7 110.3 106.4 Agriculture 38.6 40.1 78.3 78.7 Valves 32.8 32.8 69.3 66.1 Intersegment elimination (0.5) (1.0) (0.7) (1.7) Fluid & Metering Technologies 318.9 324.1 632.4 645.2 Scientific Fluidics & Optics 157.6 169.0 320.3 347.6 Sealing Solutions 59.8 62.4 120.3 127.1 Performance Pneumatic Technologies 59.3 66.0 116.8 135.4 Material Processing Technologies 27.1 33.0 56.5 60.7 Micropump (1) — 9.1 — 19.7 Intersegment elimination (0.8) (1.1) (1.5) (1.8) Health & Science Technologies 303.0 338.4 612.4 688.7 Fire & Safety 111.7 109.8 216.8 216.0 Dispensing 45.1 44.7 86.6 80.9 BAND-IT 28.6 30.3 60.0 62.3 Intersegment elimination (0.1) (1.1) (0.5) (1.5) Fire & Safety/Diversified Products 185.3 183.7 362.9 357.7 Net sales $ 807.2 $ 846.2 $ 1,607.7 $ 1,691.6 (1)
Schedule of External Net Sales Disaggregated by Geography	Revenue by geographical region for the three and six months ended June 30, 2024 and 2023 was as follows: Three Months Ended June 30, 2024 FMT HST FSDP IDEX U.S. $ 181.2 $ 141.8 $ 84.5 $ 407.5 North America, excluding U.S. 17.3 4.7 8.9 30.9 Europe 55.3 98.5 46.3 200.1 Asia 41.5 53.8 36.5 131.8 Other (1) 24.1 5.0 9.2 38.3 Intersegment elimination (0.5) (0.8) (0.1) (1.4) Net sales $ 318.9 $ 303.0 $ 185.3 $ 807.2 Three Months Ended June 30, 2023 FMT HST FSDP IDEX U.S. $ 180.7 $ 148.5 $ 96.7 $ 425.9 North America, excluding U.S. 17.9 8.2 8.1 34.2 Europe 51.5 111.2 42.4 205.1 Asia 48.8 65.2 28.0 142.0 Other (1) 26.2 6.4 9.6 42.2 Intersegment elimination (1.0) (1.1) (1.1) (3.2) Net sales $ 324.1 $ 338.4 $ 183.7 $ 846.2 Six Months Ended June 30, 2024 FMT HST FSDP IDEX U.S. $ 353.8 $ 280.7 $ 170.6 $ 805.1 North America, excluding U.S. 33.6 10.3 16.3 60.2 Europe 114.1 202.6 91.3 408.0 Asia 86.2 109.5 67.2 262.9 Other (1) 45.4 10.8 18.0 74.2 Intersegment elimination (0.7) (1.5) (0.5) (2.7) Net sales $ 632.4 $ 612.4 $ 362.9 $ 1,607.7 Six Months Ended June 30, 2023 FMT HST FSDP IDEX U.S. $ 357.5 $ 298.1 $ 186.1 $ 841.7 North America, excluding U.S. 37.3 13.4 16.6 67.3 Europe 110.7 232.1 87.1 429.9 Asia 93.9 131.8 51.4 277.1 Other (1) 47.5 15.1 18.0 80.6 Intersegment elimination (1.7) (1.8) (1.5) (5.0) Net sales $ 645.2 $ 688.7 $ 357.7 $ 1,691.6 (1)
Schedule of Contract with Customer, Asset and Liability	The composition of customer receivables was as follows: June 30, 2024 December 31, 2023 Billed receivables $ 407.6 $ 408.1 Unbilled receivables 8.5 10.9 Total customer receivables $ 416.1 $ 419.0
Schedule of New Accounting Pronouncements and Changes in Accounting Principles	The composition of deferred revenue was as follows: June 30, 2024 December 31, 2023 Deferred revenue – current $ 59.1 $ 55.9 Deferred revenue – noncurrent 17.4 17.3 Total deferred revenue $ 76.5 $ 73.2

Earnings Per Common Share (Tabl

Earnings Per Common Share (Tables)	6 Months Ended
	Jun. 30, 2024
Earnings Per Share [Abstract]
Schedule of Basic Weighted Average Shares Reconciles to Diluted Weighted Average Shares	Basic weighted average common shares outstanding reconciles to diluted weighted average common shares outstanding as follows: Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 Basic weighted average common shares outstanding 75.7 75.6 75.7 75.6 Dilutive effect of restricted stock, performance share units and stock options 0.2 0.3 0.2 0.3 Diluted weighted average common shares outstanding 75.9 75.9 75.9 75.9

Balance Sheet Components (Table

Balance Sheet Components (Tables)	6 Months Ended
	Jun. 30, 2024
Additional Financial Information Disclosure [Abstract]
Balance Sheet Components	June 30, 2024 December 31, 2023 RECEIVABLES – NET Customers $ 416.1 $ 419.0 Other 17.5 16.3 Total 433.6 435.3 Less: allowance for credit losses 7.4 7.5 Receivables – net $ 426.2 $ 427.8 INVENTORIES – NET Raw materials and component parts $ 284.8 $ 268.1 Work in process 40.4 44.5 Finished goods 102.7 108.2 Inventories – net $ 427.9 $ 420.8 ACCRUED EXPENSES Payroll and related items $ 82.9 $ 97.1 Management incentive compensation 11.2 16.4 Income taxes payable 14.8 18.5 Deferred revenue 59.1 55.9 Lease liability 23.2 22.0 Other 60.8 61.6 Accrued expenses $ 252.0 $ 271.5

Goodwill and Intangible Assets

Goodwill and Intangible Assets (Tables)	6 Months Ended
	Jun. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Changes in Carrying Amount of Goodwill	The changes in the carrying amount of goodwill for the six months ended June 30, 2024, by reportable business segment, were as follows: FMT HST FSDP IDEX Goodwill $ 805.7 $ 1,834.5 $ 398.7 $ 3,038.9 Accumulated goodwill impairment losses (20.7) (149.8) (30.1) (200.6) Balance at January 1, 2024 785.0 1,684.7 368.6 2,838.3 Foreign currency translation (5.6) (30.8) (4.8) (41.2) Measurement period adjustments — 1.7 — 1.7 Divestitures (11.6) — — (11.6) Balance at June 30, 2024 $ 767.8 $ 1,655.6 $ 363.8 $ 2,787.2
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 June 30, 2024 and December 31, 2023: June 30, 2024 December 31, 2023 Gross Accumulated Net Weighted Gross Accumulated Net Amortized intangible assets: Patents $ 2.8 $ (2.1) $ 0.7 12 $ 2.7 $ (2.0) $ 0.7 Trade names 161.4 (54.2) 107.2 15 171.9 (54.3) 117.6 Customer relationships 818.6 (242.7) 575.9 13 860.7 (228.7) 632.0 Unpatented technology 228.2 (74.6) 153.6 12 233.5 (66.3) 167.2 Software 4.9 (2.3) 2.6 5 5.3 (1.9) 3.4 Total amortized intangible assets 1,215.9 (375.9) 840.0 13 1,274.1 (353.2) 920.9 Indefinite-lived intangible assets: Banjo trade name 62.1 — 62.1 62.1 — 62.1 Akron Brass trade name 28.8 — 28.8 28.8 — 28.8 Total intangible assets $ 1,306.8 $ (375.9) $ 930.9 $ 1,365.0 $ (353.2) $ 1,011.8
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense	Based on the intangible asset balances as of June 30, 2024 , expected amortization expense for the remaining six months of 2024 and for the years 2025 through 2028 is as follows: Estimated Amortization Remainder of 2024 $ 47.3 2025 93.3 2026 91.6 2027 88.1 2028 85.1

Borrowings (Tables)

Borrowings (Tables)	6 Months Ended
	Jun. 30, 2024
Debt Disclosure [Abstract]
Schedule of Borrowings	Borrowings at June 30, 2024 and December 31, 2023 consisted of the following: June 30, 2024 December 31, 2023 3.37% Senior Notes, due June 2025 (the “3.37% Senior Notes”) (1) $ 100.0 $ 100.0 5.13% Senior Notes, due June 2028 (the “5.13% Senior Notes”) 100.0 100.0 3.00% Senior Notes, due May 2030 (the “3.00% Senior Notes”) 500.0 500.0 2.625% Senior Notes, due June 2031 (the “2.625% Senior Notes”) 500.0 500.0 $800.0 million Revolving Facility, due November 2027 (the “Revolving Facility”) (2) 78.1 81.0 $200.0 million Term Facility, due November 2027 (the “Term Facility”) (3) 25.0 50.0 Other borrowings 1.8 2.3 Total borrowings 1,304.9 1,333.3 Less: current portion 0.6 0.6 Less: deferred debt issuance costs 6.0 6.5 Less: unaccreted debt discount 1.0 1.1 Long-term borrowings $ 1,297.3 $ 1,325.1 (1) As of June 30, 2024, the $100.0 million 3.37% Senior Notes, due in June 2025, have been classified as Long-term borrowings on the Condensed Consolidated Balance Sheets. The Company has the ability and intent to either refinance or repay these Notes using the available borrowing capacity of the Revolving Facility, due November 2027. (2) At June 30, 2024, there was $78.1 million outstanding under the Revolving Facility and $2.7 million of outstanding letters of credit, resulting in a net available borrowing capacity under the Revolving Facility of approximately $719.2 million. The weighted-average interest rate for borrowings outstanding under the Revolving Facility was 4.60% and 4.22% as of June 30, 2024 and December 31, 2023, respectively. (3)

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
	Jun. 30, 2024
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 June 30, 2024 and December 31, 2023: Basis of Fair Value Measurements June 30, 2024 December 31, 2023 Level 1 Level 1 Trading securities - mutual funds held in nonqualified SERP (1) $ 10.3 $ 10.5 Available-for-sale securities - equities (2) 4.4 4.4 (1) The Supplemental Executive Retirement Plan (“SERP”) investment assets are offset by a SERP liability which represents the Company’s obligation to distribute SERP funds to participants. The SERP investment assets and liability are included in Other noncurrent assets and Other noncurrent liabilities, respectively, on the Condensed Consolidated Balance Sheets. (2) The securities are included in Other current assets on the Condensed Consolidated Balance Sheets and are available for overnight cash settlement, if necessary, to fund current operations.
Schedule of Fair Value of the Outstanding Indebtedness	The following table provides the fair value of the outstanding indebtedness described in Note 8 , “Borrowings,” which is based on quoted market prices and current market rates for debt with similar credit risk and maturity, as well as the carrying value. 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 the Company’s rating. June 30, 2024 December 31, 2023 Fair Value Carrying Amount Fair Value Carrying Amount Total Borrowings, less unaccreted debt discount $ 1,158.9 $ 1,303.9 $ 1,203.5 $ 1,332.2

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Loss (Tables)	6 Months Ended
	Jun. 30, 2024
Equity [Abstract]
Schedule of Accumulated Other Comprehensive Loss	The components of Accumulated other comprehensive loss for the three and six months ended June 30, 2024 and 2023 are as follows: Cumulative Translation Adjustment Pension and Other Postretirement Adjustments Accumulated Other Comprehensive Loss Three Months Ended June 30, 2024 Balance, March 31, 2024 (1) $ (113.6) $ 3.4 $ (110.2) Other comprehensive loss before reclassification adjustments (11.5) — (11.5) Gain reclassified from Accumulated other comprehensive loss (2)(3) — (0.3) (0.3) Loss reclassified related to divestitures (4) 5.5 — 5.5 Tax expense — 0.1 0.1 Net other comprehensive loss (1) (6.0) (0.2) (6.2) Balance, June 30, 2024 (1) $ (119.6) $ 3.2 $ (116.4) Six Months Ended June 30, 2024 Balance, December 31, 2023 (1) $ (49.3) $ 3.5 $ (45.8) Other comprehensive loss before reclassification adjustments (75.8) — (75.8) Gain reclassified from Accumulated other comprehensive loss (2)(3) — (0.4) (0.4) Loss reclassified related to divestitures (4) 5.5 — 5.5 Tax expense — 0.1 0.1 Net other comprehensive loss (1) (70.3) (0.3) (70.6) Balance, June 30, 2024 (1) $ (119.6) $ 3.2 $ (116.4) Three Months Ended June 30, 2023 Balance, March 31, 2023 (1) $ (100.5) $ 11.3 $ (89.2) Other comprehensive income before reclassification adjustments 2.3 — 2.3 Gain reclassified from Accumulated other comprehensive loss (2)(3) — (1.3) (1.3) Tax expense — 0.4 0.4 Net other comprehensive income (loss) (1) 2.3 (0.9) 1.4 Balance, June 30, 2023 (1) $ (98.2) $ 10.4 $ (87.8) Six Months Ended June 30, 2023 Balance, December 31, 2022 (1) $ (137.1) $ 10.9 $ (126.2) Other comprehensive income before reclassification adjustments 38.9 — 38.9 Gain reclassified from Accumulated other comprehensive loss (2)(3) — (0.7) (0.7) Tax expense — 0.2 0.2 Net other comprehensive income (loss) (1) 38.9 (0.5) 38.4 Balance, June 30, 2023 (1) $ (98.2) $ 10.4 $ (87.8) (1) Amounts are presented net of tax. (2) Included in the computation of net periodic cost. See Note 13 , “Retirement Benefits.” (3) Included in Other expense (income) – net in the Condensed Consolidated Statements of Income. (4) In conjunction with the divestiture of Alfa Valvole, the Company released the associated cumulative foreign currency translation losses and included the release as part of the gain on sale of business.

Share-Based Compensation (Table

Share-Based Compensation (Tables)	6 Months Ended
	Jun. 30, 2024
Share-Based Payment Arrangement [Abstract]
Schedule of Weighted Average Option Fair Values and Assumptions	The assumptions used in determining the fair value of the stock options granted in the respective periods were as follows: Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 Weighted average fair value of grants $62.41 $57.13 $63.72 $60.70 Dividend yield 1.13% 1.13% 1.09% 1.07% Volatility 26.43% 27.20% 26.67% 27.19% Risk-free interest rate 4.42% 3.81% 4.31% 4.12% Expected life (in years) 4.60 4.50 4.60 4.50
Schedule of Stock Option Activity	A summary of the Company’s stock option activity as of June 30, 2024 and changes during the six months ended June 30, 2024 are presented in the following table: Stock Options Shares Weighted Weighted-Average Aggregate Outstanding at January 1, 2024 983,267 $ 178.86 6.88 $ 39.3 Granted 195,365 234.84 Exercised (66,464) 155.75 Forfeited (27,943) 199.50 Outstanding at June 30, 2024 1,084,225 $ 189.84 7.02 $ 23.5 Vested and expected to vest as of June 30, 2024 1,067,056 $ 189.46 7.00 $ 23.4 Exercisable at June 30, 2024 610,104 $ 167.42 5.69 $ 22.1
Schedule of Restricted Stock Activity	A summary of the Company’s restricted stock activity as of June 30, 2024 and changes during the six months ended June 30, 2024 are presented in the following table: Restricted Stock Shares Weighted-Average Unvested at January 1, 2024 112,891 $ 193.03 Granted 36,540 227.48 Vested (21,080) 198.38 Forfeited (8,810) 208.81 Unvested at June 30, 2024 119,541 $ 201.45
Schedule of Unvested Cash-settled Restricted Stock Activity	A summary of the Company’s unvested cash-settled restricted stock activity as of June 30, 2024 and changes during the six months ended June 30, 2024 are presented in the following table: Cash-Settled Restricted Stock Shares Weighted-Average Unvested at January 1, 2024 56,655 $ 217.11 Granted 19,850 234.95 Vested (15,140) 235.65 Forfeited (3,925) 201.20 Unvested at June 30, 2024 57,440 $ 201.20
Schedule of Weighted Average Performance Share Units Fair Values and Assumptions	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. The assumptions used in determining the fair value of the performance share units granted in the respective periods were as follows: Six Months Ended June 30, 2024 2023 Weighted average fair value of grants $349.59 $308.18 Dividend yield —% —% Volatility 22.23% 27.00% Risk-free interest rate 4.45% 4.37% Expected life (in years) 2.94 2.94
Schedule of Performance Shares Units Activity	A summary of the Company’s performance share unit activity as of June 30, 2024 and changes during the six months ended June 30, 2024 are presented in the following table: Performance Share Units Shares Weighted-Average Unvested at January 1, 2024 67,455 $ 265.15 Granted 27,135 349.59 Vested (9,606) 245.40 Forfeited (11,239) 251.16 Unvested at June 30, 2024 73,745 $ 300.49
Schedule of Employee Service Share-based Compensation, Allocation of Recognized Period Costs	Pre-tax compensation cost is recognized in both Cost of sales and Selling, general and administrative expenses in the Condensed Consolidated Statements of Income depending on the functional area of the underlying employees. Total compensation cost related to all share-based awards was as follows: Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 Stock options expense $ 1.5 $ 1.5 $ 6.9 $ 7.5 Restricted stock expense 2.1 1.7 4.1 3.3 Cash-settled restricted stock expense (0.3) 0.6 1.6 1.7 Performance share units expense 0.8 0.8 5.9 6.0 Total pre-tax share-based compensation expense 4.1 4.6 18.5 18.5 Income tax benefit (0.7) (0.8) (1.6) (1.6) Total share-based compensation expense, net of income taxes $ 3.4 $ 3.8 $ 16.9 $ 16.9

Retirement Benefits (Tables)

Retirement Benefits (Tables)	6 Months Ended
	Jun. 30, 2024
Retirement Benefits [Abstract]
Schedule of Components of Net Periodic Benefit Cost for Defined Benefit Plans and Other Postretirement Plans	The following tables provide the components of net periodic cost for its major defined benefit plans and its other postretirement plans. Pension Benefits Three Months Ended June 30, 2024 2023 U.S. Non-U.S. U.S. Non-U.S. Service cost $ — $ 0.4 $ — $ 0.3 Interest cost 0.1 0.7 0.1 0.7 Expected return on plan assets — (0.5) — (0.4) Net amortization 0.1 (0.1) — (0.1) Net periodic cost $ 0.2 $ 0.5 $ 0.1 $ 0.5 Pension Benefits Six Months Ended June 30, 2024 2023 U.S. Non-U.S. U.S. Non-U.S. Service cost $ — $ 0.8 $ — $ 0.6 Interest cost 0.2 1.3 0.2 1.4 Expected return on plan assets (0.1) (0.9) (0.1) (0.8) Net amortization 0.2 (0.1) 0.1 (0.3) Net periodic cost $ 0.3 $ 1.1 $ 0.2 $ 0.9 Other Postretirement Benefits Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 Service cost $ 0.1 $ 0.1 $ 0.2 $ 0.2 Interest cost 0.2 0.2 0.4 0.4 Net amortization (0.3) (0.3) (0.5) (0.5) Net periodic cost $ — $ — $ 0.1 $ 0.1

Income Taxes (Tables)

Income Taxes (Tables)	6 Months Ended
	Jun. 30, 2024
Income Tax Disclosure [Abstract]
Schedule of Provision for Income Taxes and the Effective Tax Rate	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 and the effective tax rates were as follows: Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 Provision for income taxes $ 38.0 $ 40.0 $ 71.2 $ 80.0 Effective tax rate 21.2 % 22.4 % 21.4 % 22.3 %

Acquisitions and Divestitures -

Acquisitions and Divestitures - Narrative (Details) - USD ($) $ in Millions					3 Months Ended		6 Months Ended
	Jul. 25, 2024	Jul. 23, 2024	Dec. 14, 2023	May 19, 2023	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Business Acquisition [Line Items]
Measurement period							1 year
Goodwill					$ 2,787.2		$ 2,787.2		$ 2,838.3
Selling, general and administrative expenses
Business Acquisition [Line Items]
Acquisition-related transaction costs					2.5	$ 2.5	3.8	$ 3.6
Mott Corporation | Subsequent Event
Business Acquisition [Line Items]
Aggregate purchase price, cash paid		$ 1,000
Subterra AI, Inc | Subsequent Event
Business Acquisition [Line Items]
Aggregate purchase price, cash paid	$ 7.5
Iridian
Business Acquisition [Line Items]
Aggregate purchase price, cash paid				$ 109.8
Goodwill				54.2
Intangible assets				$ 44.1
STC,LLC
Business Acquisition [Line Items]
Aggregate purchase price, cash paid			$ 200.4
Goodwill			104.2
Intangible assets			$ 92.3
Inventory adjustment					$ 0		$ 2.5

Acquisitions and Divestitures_2

Acquisitions and Divestitures - Allocation of Acquisition Costs to Assets Acquired and Liabilities Assumed (Details) - USD ($) $ in Millions	3 Months Ended
	Jun. 30, 2024	Dec. 31, 2023	Dec. 14, 2023	May 19, 2023
Business Acquisition [Line Items]
Goodwill	$ 2,787.2	$ 2,838.3
Iridian
Business Acquisition [Line Items]
Current assets, net of cash acquired				$ 10.6
Property, plant and equipment				19.4
Goodwill				54.2
Intangible assets				44.1
Other noncurrent assets				5.4
Total assets acquired				133.7
Current liabilities				(1.2)
Deferred income taxes				(17.8)
Other noncurrent liabilities				(4.9)
Net assets acquired				$ 109.8
STC,LLC
Business Acquisition [Line Items]
Current assets, net of cash acquired			$ 16.9
Property, plant and equipment			12.7
Goodwill			104.2
Intangible assets			92.3
Other noncurrent assets			2.9
Total assets acquired			229
Current liabilities			(5.5)
Deferred income taxes			(20.4)
Other noncurrent liabilities			(2.7)
Net assets acquired			$ 200.4
Adjustment to purchase price	$ 1.6

Acquisitions and Divestitures_3

Acquisitions and Divestitures - Acquired Intangible Assets and Weighted Average Amortization Periods (Details) - USD ($) $ in Millions	Dec. 14, 2023	May 19, 2023
Iridian
Finite-Lived Intangible Assets [Line Items]
Acquired intangible assets, Total		$ 44.1
Iridian | Trade names
Finite-Lived Intangible Assets [Line Items]
Acquired intangible assets, Total		$ 5.2
Acquired intangible assets, Weighted Average Life		15 years
Iridian | Customer relationships
Finite-Lived Intangible Assets [Line Items]
Acquired intangible assets, Total		$ 27.8
Acquired intangible assets, Weighted Average Life		12 years
Iridian | Unpatented technology
Finite-Lived Intangible Assets [Line Items]
Acquired intangible assets, Total		$ 11.1
Acquired intangible assets, Weighted Average Life		11 years
STC,LLC
Finite-Lived Intangible Assets [Line Items]
Acquired intangible assets, Total	$ 92.3
STC,LLC | Trade names
Finite-Lived Intangible Assets [Line Items]
Acquired intangible assets, Total	$ 9.3
Acquired intangible assets, Weighted Average Life	15 years
STC,LLC | Customer relationships
Finite-Lived Intangible Assets [Line Items]
Acquired intangible assets, Total	$ 63
Acquired intangible assets, Weighted Average Life	15 years
STC,LLC | Unpatented technology
Finite-Lived Intangible Assets [Line Items]
Acquired intangible assets, Total	$ 20
Acquired intangible assets, Weighted Average Life	11 years

Acquisitions and Divestitures_4

Acquisitions and Divestitures - Divestitures (Details) - USD ($)		3 Months Ended		6 Months Ended
	Jun. 03, 2024	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Business Acquisition [Line Items]
Gain on sale of business		$ 4,600,000	$ 0	$ 4,600,000	$ 0
Provision for income taxes		$ 38,000,000	$ 40,000,000	$ 71,200,000	$ 80,000,000
Disposed of by Sale | Alfa Valvole Srl
Business Acquisition [Line Items]
Proceeds from sale of businesses, net of cash remitted	$ 45,500,000
Gain on sale of business	4,600,000
Foreign currency translation adjustment, net of tax	5,500,000
Provision for income taxes	$ 0

Business Segments - Narrative (

Business Segments - Narrative (Details)	6 Months Ended
	Jun. 30, 2024 segment
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 Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Segment Reporting Information [Line Items]
Net sales	$ 807.2	$ 846.2	$ 1,607.7	$ 1,691.6
Interest expense – net	(8.1)	(13.3)	(17.5)	(26.4)
Depreciation	(16.3)	(14.4)	(32.5)	(27.2)
Amortization of intangible assets	(23.9)	(23.2)	(48.5)	(46.8)
Fair value inventory step-up charges	0	0	(2.5)	0
Restructuring expenses and asset impairments	(1.3)	(3.6)	(2.4)	(4.1)
Gain on sale of business	4.6	0	4.6	0
Credit loss on note receivable from collaborative partner	0	(7.7)	0	(7.7)
Income before income taxes	179.2	178.5	333.7	358.3
Depreciation and amortization of intangible assets	40.2	37.6	81	74
Total assets	5,903.3		5,903.3		$ 5,865.2
Intersegment eliminations
Segment Reporting Information [Line Items]
Net sales	(1.4)	(3.2)	(2.7)	(5)
Operating segments
Segment Reporting Information [Line Items]
ADJUSTED EBITDA	245.7	262.3	483.9	518.9
Corporate and other
Segment Reporting Information [Line Items]
ADJUSTED EBITDA	(21.5)	(21.6)	(51.4)	(48.4)
Depreciation and amortization of intangible assets	0.3	0.2	0.5	0.5
Total assets	251		251		135.5
Fluid & Metering Technologies
Segment Reporting Information [Line Items]
Net sales	318.9	324.1	632.4	645.2
Income before income taxes	179.2	178.5	333.7	358.3
Fluid & Metering Technologies | Intersegment eliminations
Segment Reporting Information [Line Items]
Net sales	0.5	1	0.7	1.7
Fluid & Metering Technologies | Operating segments
Segment Reporting Information [Line Items]
Net sales	319.4	325.1	633.1	646.9
ADJUSTED EBITDA	107.7	114.1	213.1	220.3
Depreciation and amortization of intangible assets	9.5	9.8	19.1	18.9
Total assets	1,653.1		1,653.1		1,674.7
Health & Science Technologies
Segment Reporting Information [Line Items]
Net sales	303	338.4	612.4	688.7
Health & Science Technologies | Intersegment eliminations
Segment Reporting Information [Line Items]
Net sales	0.8	1.1	1.5	1.8
Health & Science Technologies | Operating segments
Segment Reporting Information [Line Items]
Net sales	303.8	339.5	613.9	690.5
ADJUSTED EBITDA	84.2	93.7	165.6	194.4
Depreciation and amortization of intangible assets	26.7	23.7	53.8	46.9
Total assets	3,175.9		3,175.9		3,262.4
Fire & Safety/Diversified Products
Segment Reporting Information [Line Items]
Net sales	185.3	183.7	362.9	357.7
Fire & Safety/Diversified Products | Intersegment eliminations
Segment Reporting Information [Line Items]
Net sales	0.1	1.1	0.5	1.5
Fire & Safety/Diversified Products | Operating segments
Segment Reporting Information [Line Items]
Net sales	185.4	184.8	363.4	359.2
ADJUSTED EBITDA	53.8	54.5	105.2	104.2
Depreciation and amortization of intangible assets	3.7	$ 3.9	7.6	$ 7.7
Total assets	$ 823.3		$ 823.3		$ 792.6

Revenue - Revenue by Reporting

Revenue - Revenue by Reporting Unit (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Disaggregation of Revenue [Line Items]
Net sales	$ 807.2	$ 846.2	$ 1,607.7	$ 1,691.6
Fluid & Metering Technologies
Disaggregation of Revenue [Line Items]
Net sales	318.9	324.1	632.4	645.2
Health & Science Technologies
Disaggregation of Revenue [Line Items]
Net sales	303	338.4	612.4	688.7
Fire & Safety/Diversified Products
Disaggregation of Revenue [Line Items]
Net sales	185.3	183.7	362.9	357.7
Operating segments | Fluid & Metering Technologies
Disaggregation of Revenue [Line Items]
Net sales	318.9	324.1	632.4	645.2
Operating segments | Fluid & Metering Technologies | Pumps
Disaggregation of Revenue [Line Items]
Net sales	101.4	109.2	203.3	214.3
Operating segments | Fluid & Metering Technologies | Water
Disaggregation of Revenue [Line Items]
Net sales	88.9	87.3	171.9	181.4
Operating segments | Fluid & Metering Technologies | Energy
Disaggregation of Revenue [Line Items]
Net sales	57.7	55.7	110.3	106.4
Operating segments | Fluid & Metering Technologies | Agriculture
Disaggregation of Revenue [Line Items]
Net sales	38.6	40.1	78.3	78.7
Operating segments | Fluid & Metering Technologies | Valves
Disaggregation of Revenue [Line Items]
Net sales	32.8	32.8	69.3	66.1
Operating segments | Health & Science Technologies
Disaggregation of Revenue [Line Items]
Net sales	303	338.4	612.4	688.7
Operating segments | Health & Science Technologies | Scientific Fluidics & Optics
Disaggregation of Revenue [Line Items]
Net sales	157.6	169	320.3	347.6
Operating segments | Health & Science Technologies | Sealing Solutions
Disaggregation of Revenue [Line Items]
Net sales	59.8	62.4	120.3	127.1
Operating segments | Health & Science Technologies | Performance Pneumatic Technologies
Disaggregation of Revenue [Line Items]
Net sales	59.3	66	116.8	135.4
Operating segments | Health & Science Technologies | Material Processing Technologies
Disaggregation of Revenue [Line Items]
Net sales	27.1	33	56.5	60.7
Operating segments | Health & Science Technologies | Micropump
Disaggregation of Revenue [Line Items]
Net sales	0	9.1	0	19.7
Operating segments | Fire & Safety/Diversified Products
Disaggregation of Revenue [Line Items]
Net sales	185.3	183.7	362.9	357.7
Operating segments | Fire & Safety/Diversified Products | Fire & Safety
Disaggregation of Revenue [Line Items]
Net sales	111.7	109.8	216.8	216
Operating segments | Fire & Safety/Diversified Products | Dispensing
Disaggregation of Revenue [Line Items]
Net sales	45.1	44.7	86.6	80.9
Operating segments | Fire & Safety/Diversified Products | BAND-IT
Disaggregation of Revenue [Line Items]
Net sales	28.6	30.3	60	62.3
Intersegment eliminations
Disaggregation of Revenue [Line Items]
Net sales	(1.4)	(3.2)	(2.7)	(5)
Intersegment eliminations | Fluid & Metering Technologies
Disaggregation of Revenue [Line Items]
Net sales	(0.5)	(1)	(0.7)	(1.7)
Intersegment eliminations | Health & Science Technologies
Disaggregation of Revenue [Line Items]
Net sales	(0.8)	(1.1)	(1.5)	(1.8)
Intersegment eliminations | Fire & Safety/Diversified Products
Disaggregation of Revenue [Line Items]
Net sales	$ (0.1)	$ (1.1)	$ (0.5)	$ (1.5)

Revenue - Revenue by Geography

Revenue - Revenue by Geography (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Disaggregation of Revenue [Line Items]
Net sales	$ 807.2	$ 846.2	$ 1,607.7	$ 1,691.6
Intersegment eliminations
Disaggregation of Revenue [Line Items]
Net sales	(1.4)	(3.2)	(2.7)	(5)
U.S. | Operating segments
Disaggregation of Revenue [Line Items]
Net sales	407.5	425.9	805.1	841.7
North America, excluding U.S. | Operating segments
Disaggregation of Revenue [Line Items]
Net sales	30.9	34.2	60.2	67.3
Europe | Operating segments
Disaggregation of Revenue [Line Items]
Net sales	200.1	205.1	408	429.9
Asia | Operating segments
Disaggregation of Revenue [Line Items]
Net sales	131.8	142	262.9	277.1
Other | Operating segments
Disaggregation of Revenue [Line Items]
Net sales	38.3	42.2	74.2	80.6
FMT
Disaggregation of Revenue [Line Items]
Net sales	318.9	324.1	632.4	645.2
FMT | Operating segments
Disaggregation of Revenue [Line Items]
Net sales	318.9	324.1	632.4	645.2
FMT | Intersegment eliminations
Disaggregation of Revenue [Line Items]
Net sales	(0.5)	(1)	(0.7)	(1.7)
FMT | U.S. | Operating segments
Disaggregation of Revenue [Line Items]
Net sales	181.2	180.7	353.8	357.5
FMT | North America, excluding U.S. | Operating segments
Disaggregation of Revenue [Line Items]
Net sales	17.3	17.9	33.6	37.3
FMT | Europe | Operating segments
Disaggregation of Revenue [Line Items]
Net sales	55.3	51.5	114.1	110.7
FMT | Asia | Operating segments
Disaggregation of Revenue [Line Items]
Net sales	41.5	48.8	86.2	93.9
FMT | Other | Operating segments
Disaggregation of Revenue [Line Items]
Net sales	24.1	26.2	45.4	47.5
HST
Disaggregation of Revenue [Line Items]
Net sales	303	338.4	612.4	688.7
HST | Operating segments
Disaggregation of Revenue [Line Items]
Net sales	303	338.4	612.4	688.7
HST | Intersegment eliminations
Disaggregation of Revenue [Line Items]
Net sales	(0.8)	(1.1)	(1.5)	(1.8)
HST | U.S. | Operating segments
Disaggregation of Revenue [Line Items]
Net sales	141.8	148.5	280.7	298.1
HST | North America, excluding U.S. | Operating segments
Disaggregation of Revenue [Line Items]
Net sales	4.7	8.2	10.3	13.4
HST | Europe | Operating segments
Disaggregation of Revenue [Line Items]
Net sales	98.5	111.2	202.6	232.1
HST | Asia | Operating segments
Disaggregation of Revenue [Line Items]
Net sales	53.8	65.2	109.5	131.8
HST | Other | Operating segments
Disaggregation of Revenue [Line Items]
Net sales	5	6.4	10.8	15.1
FSDP
Disaggregation of Revenue [Line Items]
Net sales	185.3	183.7	362.9	357.7
FSDP | Operating segments
Disaggregation of Revenue [Line Items]
Net sales	185.3	183.7	362.9	357.7
FSDP | Intersegment eliminations
Disaggregation of Revenue [Line Items]
Net sales	(0.1)	(1.1)	(0.5)	(1.5)
FSDP | U.S. | Operating segments
Disaggregation of Revenue [Line Items]
Net sales	84.5	96.7	170.6	186.1
FSDP | North America, excluding U.S. | Operating segments
Disaggregation of Revenue [Line Items]
Net sales	8.9	8.1	16.3	16.6
FSDP | Europe | Operating segments
Disaggregation of Revenue [Line Items]
Net sales	46.3	42.4	91.3	87.1
FSDP | Asia | Operating segments
Disaggregation of Revenue [Line Items]
Net sales	36.5	28	67.2	51.4
FSDP | Other | Operating segments
Disaggregation of Revenue [Line Items]
Net sales	$ 9.2	$ 9.6	$ 18	$ 18

Revenue - Performance Obligatio

Revenue - Performance Obligations (Details) - Revenue from Contract with Customer - Product Concentration Risk	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Transferred at Point in Time
Disaggregation of Revenue [Line Items]
Revenue from products and services transferred to customers	95%	95%	95%	95%
Transferred over Time
Disaggregation of Revenue [Line Items]
Revenue from products and services transferred to customers	5%	5%	5%	5%

Revenue - Receivables (Details)

Revenue - Receivables (Details) - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total customer receivables	$ 416.1	$ 419
Unbilled receivables	8.5	10.9
Billed receivables
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total customer receivables	$ 407.6	$ 408.1

Revenue - Deferred Revenue (Det

Revenue - Deferred Revenue (Details) - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
Revenue from Contract with Customer [Abstract]
Deferred revenue – current	$ 59.1	$ 55.9
Deferred revenue – noncurrent	17.4	17.3
Total deferred revenue	$ 76.5	$ 73.2

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 Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Earnings Per Share [Abstract]
Basic weighted average common shares outstanding (in shares)	75.7	75.6	75.7	75.6
Dilutive effect of restricted stock, performance share units and stock options (in shares)	0.2	0.3	0.2	0.3
Diluted weighted average common shares outstanding (in shares)	75.9	75.9	75.9	75.9

Earnings Per Common Share - Nar

Earnings Per Common Share - Narrative (Details) - shares shares in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Earnings Per Share [Abstract]
Antidilutive shares not included in Diluted EPS attributable to IDEX (in shares)	0.5	0.2	0.5	0.2

Balance Sheet Components (Detai

Balance Sheet Components (Details) - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
RECEIVABLES – NET
Customers	$ 416.1	$ 419
Other	17.5	16.3
Total	433.6	435.3
Less: allowance for credit losses	7.4	7.5
Receivables – net	426.2	427.8
INVENTORIES – NET
Raw materials and component parts	284.8	268.1
Work in process	40.4	44.5
Finished goods	102.7	108.2
Inventories – net	427.9	420.8
ACCRUED EXPENSES
Payroll and related items	82.9	97.1
Management incentive compensation	11.2	16.4
Income taxes payable	14.8	18.5
Deferred revenue	59.1	55.9
Lease liability	23.2	22
Other	60.8	61.6
Accrued expenses	$ 252	$ 271.5

Goodwill and Intangible Asset_2

Goodwill and Intangible Assets - Schedule of Changes in Carrying Amount of Goodwill (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2024	Dec. 31, 2023
Goodwill and Intangible Assets Disclosure [Line Items]
Goodwill		$ 3,038.9
Accumulated goodwill impairment losses		(200.6)
Goodwill [Roll Forward]
Goodwill, beginning balance	$ 2,838.3
Foreign currency translation	(41.2)
Measurement period adjustments	1.7
Divestitures	(11.6)
Goodwill, ending balance	2,787.2
FMT
Goodwill and Intangible Assets Disclosure [Line Items]
Goodwill		805.7
Accumulated goodwill impairment losses		(20.7)
Goodwill [Roll Forward]
Goodwill, beginning balance	785
Foreign currency translation	(5.6)
Measurement period adjustments	0
Divestitures	(11.6)
Goodwill, ending balance	767.8
HST
Goodwill and Intangible Assets Disclosure [Line Items]
Goodwill		1,834.5
Accumulated goodwill impairment losses		(149.8)
Goodwill [Roll Forward]
Goodwill, beginning balance	1,684.7
Foreign currency translation	(30.8)
Measurement period adjustments	1.7
Divestitures	0
Goodwill, ending balance	1,655.6
FSDP
Goodwill and Intangible Assets Disclosure [Line Items]
Goodwill		398.7
Accumulated goodwill impairment losses		$ (30.1)
Goodwill [Roll Forward]
Goodwill, beginning balance	368.6
Foreign currency translation	(4.8)
Measurement period adjustments	0
Divestitures	0
Goodwill, ending balance	$ 363.8

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 Millions	Jun. 30, 2024	Dec. 31, 2023
Goodwill And Intangible Assets [Line Items]
Amortized intangible assets - gross carrying amount	$ 1,215.9	$ 1,274.1
Amortized intangible assets - accumulated amortization	(375.9)	(353.2)
Amortized intangible assets - net	840	920.9
Intangible assets - gross carrying amount	1,306.8	1,365
Intangible assets - net	$ 930.9	1,011.8
Weighted Average
Goodwill And Intangible Assets [Line Items]
Amortized intangible assets - weighted average life	13 years
Banjo trade name
Goodwill And Intangible Assets [Line Items]
Indefinite lived intangible assets - net	$ 62.1	62.1
Akron Brass trade name
Goodwill And Intangible Assets [Line Items]
Indefinite lived intangible assets - net	28.8	28.8
Patents
Goodwill And Intangible Assets [Line Items]
Amortized intangible assets - gross carrying amount	2.8	2.7
Amortized intangible assets - accumulated amortization	(2.1)	(2)
Amortized intangible assets - net	$ 0.7	0.7
Amortized intangible assets - weighted average life	12 years
Trade names
Goodwill And Intangible Assets [Line Items]
Amortized intangible assets - gross carrying amount	$ 161.4	171.9
Amortized intangible assets - accumulated amortization	(54.2)	(54.3)
Amortized intangible assets - net	$ 107.2	117.6
Amortized intangible assets - weighted average life	15 years
Customer relationships
Goodwill And Intangible Assets [Line Items]
Amortized intangible assets - gross carrying amount	$ 818.6	860.7
Amortized intangible assets - accumulated amortization	(242.7)	(228.7)
Amortized intangible assets - net	$ 575.9	632
Amortized intangible assets - weighted average life	13 years
Unpatented technology
Goodwill And Intangible Assets [Line Items]
Amortized intangible assets - gross carrying amount	$ 228.2	233.5
Amortized intangible assets - accumulated amortization	(74.6)	(66.3)
Amortized intangible assets - net	$ 153.6	167.2
Amortized intangible assets - weighted average life	12 years
Software
Goodwill And Intangible Assets [Line Items]
Amortized intangible assets - gross carrying amount	$ 4.9	5.3
Amortized intangible assets - accumulated amortization	(2.3)	(1.9)
Amortized intangible assets - net	$ 2.6	$ 3.4
Amortized intangible assets - weighted average life	5 years

Goodwill and Intangible Asset_4

Goodwill and Intangible Assets - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization of intangible assets	$ 23.9	$ 23.2	$ 48.5	$ 46.8

Goodwill and Intangible Asset_5

Goodwill and Intangible Assets - Schedule of Finite Lived Intangible Assets Future Amortization Expense (Details) $ in Millions	Jun. 30, 2024 USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
Remainder of 2024	$ 47.3
2025	93.3
2026	91.6
2027	88.1
2028	$ 85.1

Borrowings (Details)

Borrowings (Details) - USD ($)	3 Months Ended
	Jun. 30, 2024	Mar. 31, 2024	Dec. 31, 2023
Debt Instrument [Line Items]
Total borrowings	$ 1,304,900,000		$ 1,333,300,000
Other borrowings	1,800,000		2,300,000
Less: current portion	600,000		600,000
Less: deferred debt issuance costs	6,000,000		6,500,000
Less: unaccreted debt discount	1,000,000		1,100,000
Long-term borrowings	1,297,300,000		1,325,100,000
Revolving Facility
Debt Instrument [Line Items]
Letters of credit outstanding	2,700,000
Amount available to borrow	$ 719,200,000
Senior Notes | 3.37% Senior Notes, due June 2025 (the “3.37% Senior Notes”)(1)
Debt Instrument [Line Items]
Stated interest rate	3.37%
Total borrowings	$ 100,000,000		100,000,000
Senior Notes | 5.13% Senior Notes, due June 2028 (the “$5.13% Senior Notes”)
Debt Instrument [Line Items]
Stated interest rate	5.13%
Total borrowings	$ 100,000,000		100,000,000
Senior Notes | 3.00% Senior Notes, due May 2030 (the “$3.00% Senior Notes”)
Debt Instrument [Line Items]
Stated interest rate	3%
Total borrowings	$ 500,000,000		500,000,000
Senior Notes | 2.625% Senior Notes, due June 2031 (the “$2.625% Senior Notes”)
Debt Instrument [Line Items]
Stated interest rate	2.625%
Total borrowings	$ 500,000,000		500,000,000
Line of Credit | Revolving Facility
Debt Instrument [Line Items]
Borrowing capacity	800,000,000
Long-term debt, gross	$ 78,100,000		$ 81,000,000
Weighted average interest rate	4.60%		4.22%
Line of Credit | Secured Debt
Debt Instrument [Line Items]
Borrowing capacity	$ 200,000,000
Long-term debt, gross	$ 25,000,000	$ 50,000,000	$ 50,000,000
Weighted average interest rate	6.65%		6.22%
Extinguishment of debt	$ 25,000,000

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 - Level 1 - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
Mutual Funds Held in Nonqualified SERP
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Trading securities	$ 10.3	$ 10.5
Equities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Trading securities	$ 4.4	$ 4.4

Fair Value Measurements - Sch_2

Fair Value Measurements - Schedule of Fair Value of Debt Outstanding (Details) - Level 2 - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total Borrowings, less unaccreted debt discount	$ 1,158.9	$ 1,203.5
Carrying Amount
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total Borrowings, less unaccreted debt discount	$ 1,303.9	$ 1,332.2

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	$ 3,618.3	$ 3,229.5	$ 3,541.2	$ 3,039.6
Other comprehensive loss before reclassification adjustments	(11.5)	2.3	(75.8)	38.9
Gain reclassified from Accumulated other comprehensive loss	(0.3)	(1.3)	(0.4)	(0.7)
Loss reclassified related to divestitures	5.5		5.5
Tax expense	0.1	0.4	0.1	0.2
Other comprehensive (loss) income	(6.2)	1.4	(70.6)	38.4
Ending balance	3,653.4	3,278.9	3,653.4	3,278.9
Accumulated Other Comprehensive Loss
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	(110.2)	(89.2)	(45.8)	(126.2)
Ending balance	(116.4)	(87.8)	(116.4)	(87.8)
Cumulative Translation Adjustment
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	(113.6)	(100.5)	(49.3)	(137.1)
Other comprehensive loss before reclassification adjustments	(11.5)	2.3	(75.8)	38.9
Gain reclassified from Accumulated other comprehensive loss	0	0	0	0
Loss reclassified related to divestitures	5.5		5.5
Tax expense	0	0	0	0
Other comprehensive (loss) income	(6)	2.3	(70.3)	38.9
Ending balance	(119.6)	(98.2)	(119.6)	(98.2)
Pension and Other Postretirement Adjustments
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	3.4	11.3	3.5	10.9
Other comprehensive loss before reclassification adjustments	0	0	0	0
Gain reclassified from Accumulated other comprehensive loss	(0.3)	(1.3)	(0.4)	(0.7)
Loss reclassified related to divestitures	0		0
Tax expense	0.1	0.4	0.1	0.2
Other comprehensive (loss) income	(0.2)	(0.9)	(0.3)	(0.5)
Ending balance	$ 3.2	$ 10.4	$ 3.2	$ 10.4

Share Repurchases (Details)

Share Repurchases (Details) - USD ($)			1 Months Ended	3 Months Ended	6 Months Ended
	Mar. 17, 2020	Dec. 01, 2015	Jul. 31, 2023	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Equity [Abstract]
Increase in share repurchase authorized amount	$ 500,000,000	$ 300,000,000
Repurchase of common stock (in shares)					0	5,400
Repurchase of shares of common stock				$ 1,100,000		$ 1,100,000
Purchase of common stock			$ 100,000		$ 0	$ 1,000,000
Remaining authorized repurchase amount					$ 539,700,000

Share Based Compensation - Narr

Share Based Compensation - Narrative (Details) - USD ($) $ in Millions		1 Months Ended		6 Months Ended
	Jan. 31, 2024	Feb. 29, 2024	Jan. 31, 2024	Jun. 30, 2024	Dec. 31, 2023
Stock options expense
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock option exercisable life				10 years
Total unrecognized compensation cost				$ 12.8
Weighted-average period of total unrecognized compensation cost, in years				1 year 6 months
Stock options expense | Employees
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period				4 years
Restricted stock expense
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total unrecognized compensation cost				$ 8.7
Weighted-average period of total unrecognized compensation cost, in years				1 year 1 month 6 days
Granted (in shares)				36,540
Restricted stock expense | 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 expense
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period				3 years
Total unrecognized compensation cost				$ 4.9
Weighted-average period of total unrecognized compensation cost, in years				1 year 1 month 6 days
Granted (in shares)				19,850
Cash-settled restricted stock expense | Accrued Expenses
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share based compensation, accrued expenses				$ 3.3	$ 4.2
Cash-settled restricted stock expense | Other Noncurrent Liabilities
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share based compensation, accrued expenses				1.8	$ 2.9
Performance share units expense
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period	3 years
Total unrecognized compensation cost				$ 4.9
Weighted-average period of total unrecognized compensation cost, in years				1 year 1 month 6 days
Granted (in shares)	19,200			27,135
Payout percent			50%
Net issuance of shares of common stock (net of tax) (in shares)		9,606

Share-Based Compensation - Sche

Share-Based Compensation - Schedule of Weighted Average Option Fair Values and Assumptions (Details) - Stock options expense - $ / shares	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average fair value of grants (in dollars per share)	$ 62.41	$ 57.13	$ 63.72	$ 60.70
Dividend yield	1.13%	1.13%	1.09%	1.07%
Volatility	26.43%	27.20%	26.67%	27.19%
Risk-free interest rate	4.42%	3.81%	4.31%	4.12%
Expected life (in years)	4 years 7 months 6 days	4 years 6 months	4 years 7 months 6 days	4 years 6 months

Share-Based Compensation - Stoc

Share-Based Compensation - Stock Options Activity (Details) - Stock options expense - USD ($) $ / shares in Units, $ in Millions	6 Months Ended	12 Months Ended
	Jun. 30, 2024	Dec. 31, 2023
Shares
Beginning balance (in shares)	983,267
Granted (in shares)	195,365
Exercised (in shares)	(66,464)
Forfeited (in shares)	(27,943)
Ending balance (in shares)	1,084,225	983,267
Vested and expected to vest (in shares)	1,067,056
Exercisable (in shares)	610,104
Weighted Average Exercise Price
Beginning balance (in dollars per share)	$ 178.86
Granted (in dollars per share)	234.84
Exercised (in dollars per share)	155.75
Forfeited (in dollars per share)	199.50
Ending balance (in dollars per share)	189.84	$ 178.86
Vested and expected to vest (in dollars per share)	189.46
Exercisable (in dollars per share)	$ 167.42
Weighted-Average Remaining Contractual Term (years)
Stock options outstanding, weighted-average remaining contractual term	7 years 7 days	6 years 10 months 17 days
Weighted-average remaining contractual term, vested and expected to vest	7 years
Weighted-average remaining contractual term, exercisable	5 years 8 months 8 days
Aggregate Intrinsic Value
Stock options outstanding, aggregate intrinsic value	$ 23.5	$ 39.3
Aggregate intrinsic value, vested and expected to vest	23.4
Aggregate intrinsic value, exercisable	$ 22.1

Share-Based Compensation - Rest

Share-Based Compensation - Restricted Stock Units Activity (Details) - Restricted stock expense	6 Months Ended
	Jun. 30, 2024 $ / shares shares
Shares
Unvested, beginning balance (in shares) | shares	112,891
Granted (in shares) | shares	36,540
Vested (in shares) | shares	(21,080)
Forfeited (in shares) | shares	(8,810)
Unvested, ending balance (in shares) | shares	119,541
Weighted-Average Grant Date Fair Value
Unvested, beginning balance (in dollars per share) | $ / shares	$ 193.03
Granted (in dollars per share) | $ / shares	227.48
Vested (in dollars per share) | $ / shares	198.38
Forfeited (in dollars per share) | $ / shares	208.81
Unvested, ending balance (in dollars per share) | $ / shares	$ 201.45

Share-Based Compensation - Cash

Share-Based Compensation - Cash-settled Restricted Stock Activity (Details) - Cash-settled restricted stock expense	6 Months Ended
	Jun. 30, 2024 $ / shares shares
Shares
Unvested, beginning balance (in shares) | shares	56,655
Granted (in shares) | shares	19,850
Vested (in shares) | shares	(15,140)
Forfeited (in shares) | shares	(3,925)
Unvested, ending balance (in shares) | shares	57,440
Weighted-Average Fair Value
Unvested, beginning balance (in dollars per share) | $ / shares	$ 217.11
Granted (in dollars per share) | $ / shares	234.95
Vested (in dollars per share) | $ / shares	235.65
Forfeited (in dollars per share) | $ / shares	201.20
Unvested, ending balance (in dollars per share) | $ / shares	$ 201.20

Share-Based Compensation - Sc_2

Share-Based Compensation - Schedule of Weighted Average Performance Share Units Fair Values and Assumptions (Details) - Performance share units expense - $ / shares	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average fair value of grants (in dollars per share)	$ 349.59	$ 308.18
Dividend yield	0%	0%
Volatility	22.23%	27%
Risk-free interest rate	4.45%	4.37%
Expected life (in years)	2 years 11 months 8 days	2 years 11 months 8 days

Share-Based Compensation - Perf

Share-Based Compensation - Performance Share Unit Activity (Details) - Performance share units expense - $ / shares		6 Months Ended
	Jan. 31, 2024	Jun. 30, 2024
Shares
Unvested, beginning balance (in shares)		67,455
Granted (in shares)	19,200	27,135
Vested (in shares)		(9,606)
Forfeited (in shares)		(11,239)
Unvested, ending balance (in shares)		73,745
Weighted-Average Grant Date Fair Value
Unvested, beginning balance (in dollars per share)		$ 265.15
Granted (in dollars per share)		349.59
Vested (in dollars per share)		245.40
Forfeited (in dollars per share)		251.16
Unvested, ending balance (in dollars per share)		$ 300.49

Share-Based Compensation - Pre-

Share-Based Compensation - Pre-Tax Compensation Cost (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total pre-tax share-based compensation expense	$ 4.1	$ 4.6	$ 18.5	$ 18.5
Income tax benefit	(0.7)	(0.8)	(1.6)	(1.6)
Total share-based compensation expense, net of income taxes	3.4	3.8	16.9	16.9
Stock options expense
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total pre-tax share-based compensation expense	1.5	1.5	6.9	7.5
Restricted stock expense
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total pre-tax share-based compensation expense	2.1	1.7	4.1	3.3
Cash-settled restricted stock expense
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total pre-tax share-based compensation expense	(0.3)	0.6	1.6	1.7
Performance share units expense
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total pre-tax share-based compensation expense	$ 0.8	$ 0.8	$ 5.9	$ 6

Retirement Benefits - Component

Retirement Benefits - Components of Net Periodic Benefit Cost for Defined Benefit Plans and Other Postretirement Plans (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Pension Benefits | U.S.
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Service cost	$ 0	$ 0	$ 0	$ 0
Interest cost	0.1	0.1	0.2	0.2
Expected return on plan assets	0	0	(0.1)	(0.1)
Net amortization	0.1	0	0.2	0.1
Net periodic cost	0.2	0.1	0.3	0.2
Pension Benefits | Non-U.S.
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Service cost	0.4	0.3	0.8	0.6
Interest cost	0.7	0.7	1.3	1.4
Expected return on plan assets	(0.5)	(0.4)	(0.9)	(0.8)
Net amortization	(0.1)	(0.1)	(0.1)	(0.3)
Net periodic cost	0.5	0.5	1.1	0.9
Other Postretirement Benefits
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Service cost	0.1	0.1	0.2	0.2
Interest cost	0.2	0.2	0.4	0.4
Net amortization	(0.3)	(0.3)	(0.5)	(0.5)
Net periodic cost	$ 0	$ 0	$ 0.1	$ 0.1

Retirement Benefits - Narrative

Retirement Benefits - Narrative (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Defined Benefit Plan Disclosure [Line Items]
Contributions by employer	$ 2.4	$ 2.6
Pension Benefits
Defined Benefit Plan Disclosure [Line Items]
Expected contribution for next fiscal year	3.6
Other Postretirement Benefits
Defined Benefit Plan Disclosure [Line Items]
Expected contribution for next fiscal year	$ 1.1

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Income Tax Disclosure [Abstract]
Provision for income taxes	$ 38	$ 40	$ 71.2	$ 80
Effective tax rate	21.20%	22.40%	21.40%	22.30%