Document and Entity Information (USD $)	6 Months Ended
Document and Entity Information (USD $)	Jun. 30, 2010	Jul. 31, 2010	Jun. 30, 2009
Document and Entity Information [Abstract]
Entity Registrant Name	IDEX CORP /DE/
Entity Central Index Key	0000832101
Document Type	10-Q
Document Period End Date	Jun. 30, 2010
Amendment Flag	false
Document Fiscal Year Focus	2010
Document Fiscal Period Focus	Q2
Current Fiscal Year End Date	--12-31
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Filer Category	Large Accelerated Filer
Entity Public Float			$ 1,953,103,845
Entity Common Stock, Shares Outstanding		81,463,661

Condensed Consolidated Balance Sheets (Unaudited) (USD $) In Thousands, unless otherwise specified	6 Months Ended	12 Months Ended
	Jun. 30, 2010	Dec. 31, 2009
Current assets
Cash and cash equivalents	$ 159,138	$ 73,526
Receivables, less allowance for doubtful accounts of $5,843 at June 30, 2010 and $6,160 at December 31, 2009	200,430	183,178
Inventories - net	170,109	159,463
Other current assets	47,773	35,545
Total current assets	577,450	451,712
Property, plant and equipment - net	179,284	178,283
Goodwill	1,169,641	1,180,445
Intangible assets - net	277,431	281,354
Other noncurrent assets	7,721	6,363
Total assets	2,211,527	2,098,157
Current liabilities
Trade accounts payable	83,204	73,020
Accrued expenses	131,549	98,730
Short-term borrowings	10,559	8,346
Dividends payable	12,223	9,586
Total current liabilities	237,535	189,682
Long-term borrowings	459,832	391,754
Deferred income taxes	152,271	148,806
Other noncurrent liabilities	89,754	99,811
Total liabilities	939,392	830,053
Commitment and contingencies
Shareholders' equity
Preferred stock: Authorized: 5,000,000 shares, $.01 per share par value; Issued: None	0	0
Common stock: Authorized: 150,000,000 shares, $.01 per share par value Issued: 84,060,937 shares at June 30, 2010 and 83,510,320 shares at December 31, 2009	841	835
Additional paid-in capital	417,942	401,570
Retained earnings	949,494	896,977
Treasury stock at cost: 2,565,194 shares at June 30, 2010 and 2,540,052 at December 31, 2009	(57,449)	(56,706)
Accumulated other comprehensive income (loss)	(38,693)	25,428
Total shareholders' equity	1,272,135	1,268,104
Total liabilities and shareholders' equity	$ 2,211,527	$ 2,098,157

Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical) (USD $) In Thousands, except Share data, unless otherwise specified	Jun. 30, 2010	Dec. 31, 2009
Current assets
Allowance for doubtful accounts receivables, current	$ 5,843	$ 6,160
Shareholders' equity
Preferred stock, Authorized	5,000,000	5,000,000
Preferred stock, par value	$ 0.01	$ 0.01
Preferred stock, Issued	0	0
Common stock, Authorized	150,000,000	150,000,000
Common stock, par value	$ 0.01	$ 0.01
Common stock, Issued	84,060,937	83,510,320
Treasury stock	2,565,194	2,540,052

Condensed Consolidated Statements of Operations (Unaudited) (USD $) In Thousands, except Per Share data, unless otherwise specified	3 Months Ended		6 Months Ended
	Jun. 30, 2010	Jun. 30, 2009	Jun. 30, 2010	Jun. 30, 2009
Condensed Consolidated Statements of Operations [Abstract]
Net sales	$ 378,526	$ 336,455	$ 734,124	$ 663,068
Cost of sales	223,705	205,354	431,762	408,773
Gross profit	154,821	131,101	302,362	254,295
Selling, general and administrative expenses	91,010	81,116	178,791	162,898
Restructuring expenses	1,031	3,250	2,898	5,501
Operating income	62,780	46,735	120,673	85,896
Other income (expense) - net	239	(385)	493	(576)
Interest expense	3,599	4,440	7,033	9,261
Income before income taxes	59,420	41,910	114,133	76,059
Provision for income taxes	19,022	13,988	37,110	25,532
Net income	$ 40,398	$ 27,922	$ 77,023	$ 50,527
Basic earnings per common share	$ 0.5	$ 0.35	$ 0.95	$ 0.63
Diluted earnings per common share	$ 0.49	$ 0.34	$ 0.94	$ 0.62
Share data:
Basic weighted average common shares outstanding	80,369	79,675	80,225	79,594
Diluted weighted average common shares outstanding	81,800	80,507	81,655	80,363

Condensed Consolidated Statements of Shareholders' Equity (Unaudited) (USD $) In Thousands, unless otherwise specified	Total	Common Stock and Additional Paid-In Capital	Retained Earnings	Cumulative Translation Adjustment	Net Actuarial Losses and Prior Service Costs on Pensions and Other Post-Retirement Benefit Plans	Cumulative Unrealized Losses on Derivatives Designated as Cash Flow Hedges	Treasury Stock
Beginning balance at Dec. 31, 2009	$ 1,268,104	$ 402,405	$ 896,977	$ 59,399	$ (27,258)	$ (6,713)	$ (56,706)
Net income	77,023		77,023
Other comprehensive income, net of tax:
Cumulative translation adjustment	(50,865)			(50,865)
Amortization of retirement obligations	740				740
Net change on derivatives designated as cash flow hedges	(13,996)					(13,996)
Other comprehensive loss	(64,121)
Comprehensive income	12,902
Issuance of 580,073 shares of common stock from issuance of unvested shares, exercise of stock options and deferred compensation plans, net of tax benefit	7,048	7,048
Unvested shares surrendered for tax withholding	(743)						(743)
Share-based compensation	9,330	9,330
Cash dividends declared - $.30 per common share	(24,506)		(24,506)
Ending balance at Jun. 30, 2010	$ 1,272,135	$ 418,783	$ 949,494	$ 8,534	$ (26,518)	$ (20,709)	$ (57,449)

Condensed Consolidated Statements of Cash Flows (Unaudited) (USD $) In Thousands, unless otherwise specified	6 Months Ended
	Jun. 30, 2010	Jun. 30, 2009
Cash flows from operating activities
Net income	$ 77,023	$ 50,527
Adjustments to reconcile net income to net cash provided by operating activities:
Loss on sale of fixed assets		684
Depreciation and amortization	16,920	15,620
Amortization of intangible assets	12,733	12,138
Amortization of debt issuance expenses	219	154
Stock-based compensation expense	9,330	8,971
Deferred income taxes	1,656	6,692
Excess tax benefit from stock-based compensation	(2,284)	(1,260)
Changes in (net of the effect from acquisitions):
Receivables	(20,950)	6,681
Inventories	(14,618)	14,084
Trade accounts payable	10,668	(13,363)
Accrued expenses	9,547	(21,197)
Other - net	(4,539)	(6,820)
Net cash flows provided by operating activities	95,705	72,911
Cash flows from investing activities
Additions to property, plant and equipment	(17,533)	(10,970)
Acquisition of businesses, net of cash acquired	(51,273)
Proceeds from fixed assets disposals		2,882
Other - net		330
Net cash flows used in investing activities	(68,806)	(7,758)
Cash flows from financing activities
Borrowings under credit facilities for acquisitions	53,866
Borrowings under credit facilities	2,266	54,771
Proceeds from issuance of senior notes	96,762
Payments under credit facilities	(73,297)	(100,385)
Dividends paid	(21,869)	(19,302)
Proceeds from stock option exercises	5,994	2,503
Excess tax benefit from stock-based compensation	2,284	1,260
Other - net	(743)	(765)
Net cash flows provided by (used in) financing activities	65,263	(61,918)
Effect of exchange rate changes on cash and cash equivalents	(6,550)	3,328
Net increase in cash	85,612	6,563
Cash and cash equivalents at beginning of year	73,526	61,353
Cash and cash equivalents at end of period	159,138	67,916
Cash paid for:
Interest	6,840	9,664
Income taxes	24,974	24,913
Significant non-cash activities:
Debt acquired with acquisition of business	722
Issuance of unvested shares	$ 2,917	$ 3,897

Basis of Presentation and Significant Accounting Policies

6 Months Ended

Jun. 30, 2010

Basis of Presentation and Significant Accounting Policies [Abstract]

Basis of Presentation and Significant Accounting Policies


1.	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 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, which 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, 2010 are not necessarily indicative of the results to be expected for the entire year.

The condensed consolidated financial statements and Management’s Discussion and Analysis of Financial Condition and Results of Operations should be read in conjunction with the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2009.

Adoption of New Accounting Standards

In January 2010, the Financial Accounting Standards Board (“FASB”) issued ASU 2010-06, “Fair Value Measurements and Disclosures (Topic 820).” This Update provides amendments to Subtopic 820-10 and related guidance within U.S. Generally Accepted Accounting Principles (“GAAP”) to require disclosure of the transfers in and out of Levels 1 and 2 and a schedule for Level 3 that separately identifies purchases, sales, issuances and settlements and requires more detailed disclosures regarding valuation techniques and inputs. The Company adopted this standard on its effective date, see Note 12 for disclosures associated with the adoption of this standard.

In February 2010, the FASB issued ASU 2010-09, “Subsequent Events (Topic 855).” This update provides amendments to Subtopic 855-10-50-4 and related guidance within U.S. GAAP to clarify that an SEC registrant is not required to disclose the date through which subsequent events have been evaluated. This change alleviates potential conflicts between Subtopic 855-10 and the SEC’s requirements. The Company adopted this update on its effective date.

Restructuring

6 Months Ended

Jun. 30, 2010

Restructuring [Abstract]

Restructuring


2.	Restructuring

The Company has recorded restructuring costs as a result of cost reduction efforts and facility closings. Accruals have been recorded based on these costs and primarily consist of employee termination benefits. We record expenses for employee termination benefits based on the guidance of Accounting Standards Codification (“ASC”) 420, “Exit or Disposal Cost Obligations.” These expenses are included in Restructuring expenses in the Consolidated Statements of Operations while the related restructuring accruals are included in Accrued expenses in our Consolidated Balance Sheets.

During the three and six months ended June 30, 2010, the Company recorded an additional $1.0 million and $2.9 million, respectively, of pre-tax restructuring expenses related to our 2009 restructuring initiative for employee severance related to employee reductions across various functional areas as well as facility closures resulting from the Company’s cost savings initiatives. In the three and six months ended June 30, 2009, the Company recorded pre-tax restructuring expenses totaling $3.3 million and $5.5 million, respectively, related to this same initiative. The 2009 initiative has included severance benefits for over 600 employees. This initiative is expected to be completed by the end of 2010 with an expected additional total cost of approximately $3.0 million during the remainder of 2010.

Pre-tax restructuring expenses, by segment, for the three months ended June 30, 2010 were as follows:


	Severance
	Costs		Exit Costs		Total
	(in thousands)

Fluid & Metering Technologies	$	360	$	184	$	544
Health & Science Technologies		337		—		337
Dispensing Equipment		5		—		5
Fire & Safety/Diversified Products		125		—		125
Corporate/Other		—		20		20

Total restructuring costs	$	827	$	204	$	1,031

Pre-tax restructuring expenses, by segment for the three months ended June 30, 2009, were as follows:


	Severance
	Costs		Exit Costs		Total
	(in thousands)

Fluid & Metering Technologies	$	1,083	$	202	$	1,285
Health & Science Technologies		625		221		846
Dispensing Equipment		28		479		507
Fire & Safety/Diversified Products		427		—		427
Corporate/Other		79		106		185

Total restructuring costs	$	2,242	$	1,008	$	3,250

Pre-tax restructuring expenses, by segment, for the six months ended June 30, 2010 were as follows:


	Severance
	Costs		Exit Costs		Total
	(in thousands)

Fluid & Metering Technologies	$	711	$	202	$	913
Health & Science Technologies		846		54		900
Dispensing Equipment		120		—		120
Fire & Safety/Diversified Products		477		—		477
Corporate/Other		396		92		488

Total restructuring costs	$	2,550	$	348	$	2,898

Pre-tax restructuring expenses, by segment for the six months ended June 30, 2009, were as follows:


	Severance
	Costs
	(Reversals)			Exit Costs		Total
	(in thousands)

Fluid & Metering Technologies	$	1,895		$	490	$	2,385
Health & Science Technologies		1,282			412		1,694
Dispensing Equipment		(283	)		860		577
Fire & Safety/Diversified Products		450			—		450
Corporate/Other		239			156		395

Total restructuring costs	$	3,583		$	1,918	$	5,501

Restructuring accruals of $3.3 million and $6.9 million as of June 30, 2010 and December 31, 2009, respectively, are reflected in Accrued expenses in our Condensed Consolidated Balance Sheets as follows:


	(In thousands)

Balance at January 1, 2010	$	6,878
Restructuring costs		2,898
Payments/Utilization		(6,501	)

Balance at June 30, 2010	$	3,275

Acquisitions

6 Months Ended

Jun. 30, 2010

Acquisitions [Abstract]

Acquisitions


3.	Acquisitions

On April 15, 2010, the Company acquired Seals, Ltd (“Seals”), a leading provider of proprietary high performance seals and advanced sealing solutions for a diverse range of global industries, including analytical instrumentation, semiconductor/solar and process technologies. Seals consists of the Polymer Engineering and Perlast divisions. Seals’ Polymer Engineering division focuses on sealing solutions for hazardous duty applications. The Perlast division produces highly engineered seals for analytical instrumentation, pharmaceutical, electronics, and food applications. Headquartered in Blackburn, England, Seals has annual revenues of approximately $32.0 million (£21 million). Seals will operate as part of the Health and Science Technologies segment. The Company acquired Seals for an aggregate purchase price of $54.0 million, consisting of $51.3 million in cash and the assumption of approximately $2.7 million of debt related items. The cash payment was financed with borrowings under the Company’s Credit Facility. Goodwill and intangible assets recognized as part of this transaction were $29.4 million and $17.6 million, respectively. The $29.4 million of goodwill is not deductible for tax purposes.

The purchase price for Seals has been allocated to the assets acquired and liabilities assumed based on estimated fair values at the date of the acquisition. The purchase price allocation is preliminary and further refinements may be necessary pending certain asset and liability valuations.

The results of operations for this acquisition have been included within the Company’s financial results from the date of the acquisition. The Company does not consider this acquisition to be material to its results of operations for any of the periods presented.

Business Segments

6 Months Ended

Jun. 30, 2010

Business Segments [Abstract]

Business Segments


4.	Business Segments

The Company consists of four reportable business segments: Fluid & Metering Technologies, Health & Science Technologies, Dispensing Equipment and Fire & Safety/Diversified Products.

The Fluid & Metering Technologies Segment designs, produces and distributes positive displacement pumps, flow meters, injectors, and other fluid-handling pump modules and systems and provides flow monitoring and other services for water and wastewater. The Health & Science Technologies Segment designs, produces and distributes a wide range of precision fluidics and sealing solutions, including very high precision, low-flow rate pumping solutions required in analytical instrumentation, clinical diagnostics and drug discovery, high performance molded and extruded biocompatible medical devices and implantables, air compressors used in medical, dental and industrial applications, and precision gear and peristaltic pump technologies that meet exacting OEM specifications. The Dispensing Equipment Segment produces precision equipment for dispensing, metering and mixing colorants, paints, and hair colorants and other personal care products used in a variety of retail and commercial businesses around the world. The Fire & Safety/Diversified Products Segment produces firefighting pumps and controls, rescue tools, lifting bags and other components and systems for the fire and rescue industry, and engineered stainless steel banding and clamping devices used in a variety of industrial and commercial applications.

The Company evaluates segment performance based on several factors, of which operating income is the primary financial measure. Intersegment sales are accounted for at fair value as if the sales were to third parties. Information on the Company’s business segments is presented below.


	Three Months						Six Months
	Ended						Ended
	June 30,						June 30,
	2010			2009			2010			2009
				(In thousands)

Net sales
Fluid & Metering Technologies:
External customers	$	174,359		$	156,759		$	347,068		$	313,490
Intersegment sales		189			241			357			528

Total group sales		174,548			157,000			347,425			314,018

Health & Science Technologies:
External customers		99,141			71,912			185,123			143,940
Intersegment sales		1,345			1,904			2,885			4,064

Total group sales		100,486			73,816			188,008			148,004

Dispensing Equipment:
External customers		41,102			45,658			74,640			78,531
Intersegment sales		33			—			49			—

Total group sales		41,135			45,658			74,689			78,531

Fire & Safety/Diversified Products:
External customers		63,924			62,126			127,293			127,107
Intersegment sales		67			1			99			2

Total group sales		63,991			62,127			127,392			127,109

Intersegment elimination		(1,634	)		(2,146	)		(3,390	)		(4,594	)

Total net sales	$	378,526		$	336,455		$	734,124		$	663,068

Operating income
Fluid & Metering Technologies	$	30,234		$	22,936		$	62,374		$	45,554
Health & Science Technologies		20,436			10,757			38,988			20,607
Dispensing Equipment		9,712			9,514			16,351			13,493
Fire & Safety/Diversified Products		13,916			13,309			26,987			26,880
Corporate office and other		(11,518	)		(9,781	)		(24,027	)		(20,638	)

Total operating income	$	62,780		$	46,735		$	120,673		$	85,896

Earnings Per Common Share

6 Months Ended

Jun. 30, 2010

Earnings Per Common Share [Abstract]

Earnings Per Common Share


5.	Earnings Per Common Share

Earnings per common share (“EPS”) are computed by dividing net income by the weighted average number of shares of common stock (basic) plus common stock equivalents outstanding (diluted) during the period. Common stock equivalents consist of stock options, which have been included in the calculation of weighted average shares outstanding using the treasury stock method, unvested shares, and shares issuable in connection with certain deferred compensation agreements (“DCUs”).

ASC 260 “Earnings Per Share”, (“ASC 260”) concludes that all outstanding unvested share-based payment awards that contain rights to nonforfeitable dividends participate in undistributed earnings with common shareholders. If awards are considered participating securities, the Company is required to apply the two-class method of computing basic and diluted earnings per share. The Company has determined that its outstanding unvested shares are participating securities. Accordingly, earnings per common share are computed using the two-class method prescribed by ASC 260. Net income attributable to common shareholders was reduced by $0.4 million and $0.2 million for the three months ended June 30, 2010 and 2009, respectively. Net income attributable to common shareholders was reduced by $0.7 million and $0.4 million for the six months ended June 30, 2010 and 2009, respectively.

Basic weighted average shares reconciles to diluted weighted average shares as follows:


	Three				Six
	Months				Months
	Ended June 30,				Ended June 30,
	2010		2009		2010		2009
			(in thousands)

Basic weighted average common shares outstanding		80,369		79,675		80,225		79,594
Dilutive effect of stock options, unvested shares, and DCUs		1,431		832		1,430		769

Diluted weighted average common shares outstanding		81,800		80,507		81,655		80,363

Options to purchase approximately 2.4 million and 4.2 million shares of common stock as of June 30, 2010 and 2009, respectively, were not included in the computation of diluted EPS because the exercise price was greater than the average market price of the Company’s common stock and, therefore, the effect of their inclusion would be antidilutive.

Inventories

6 Months Ended

Jun. 30, 2010

Inventories [Abstract]

Inventories


6.	Inventories

The components of inventories as of June 30, 2010 and December 31, 2009 were:


	June 30,		December 31,
	2010		2009
	(In thousands)

Raw materials and component parts	$	116,657	$	113,777
Work-in-process		23,340		20,669
Finished goods		47,082		43,626

Total		187,079		178,072
Less inventory reserves		16,970		18,609

Total inventories-net	$	170,109	$	159,463

Inventories are stated at the lower of cost or market. Cost, which includes material, labor, and factory overhead, is determined on a FIFO basis.

Goodwill and Intangible Assets

6 Months Ended

Jun. 30, 2010

Goodwill and Intangible Assets [Abstract]

Goodwill and Intangible Assets


7.	Goodwill and Intangible Assets

The changes in the carrying amount of goodwill for the six months ended June 30, 2010, by reportable segment, were as follows:


	Fluid &			Health &						Fire & Safety/
	Metering			Science			Dispensing			Diversified
	Technologies			Technologies			Equipment			Products			Total
	(In thousands)

Balance at December 31, 2009	$	533,979		$	392,379		$	104,973		$	149,114		$	1,180,445
Foreign currency translation		(17,166	)		(2,451	)		(12,370	)		(8,259	)		(40,246	)
Acquisitions		—			29,442			—			—			29,442

Balance at June 30, 2010	$	516,813		$	419,370		$	92,603		$	140,855		$	1,169,641

ASC 350 “Goodwill and Other Intangible Assets” requires that goodwill be tested for impairment at the reporting unit level on an annual basis and between annual tests if an event occurs or circumstances change that would more likely than not reduce the fair value of the reporting unit below its carrying value. Annually on October 31st, goodwill and other acquired intangible assets with indefinite lives are tested for impairment. The Company concluded that the fair value of each of the reporting units was in excess of the carrying value as of October 31, 2009. The Company did not consider there to be any triggering event that would require an interim impairment assessment, therefore none of the goodwill or other acquired intangible assets with indefinite lives were tested for impairment during the six months ended June 30, 2010.

The following table provides the gross carrying value and accumulated amortization for each major class of intangible asset at June 30, 2010 and December 31, 2009:


	At June 30, 2010									At December 31, 2009
	Gross							Weighted		Gross
	Carrying		Accumulated					Average		Carrying		Accumulated
	Amount		Amortization			Net		Life		Amount		Amortization			Net

Amortizable intangible assets:
Patents	$	9,721	$	(4,677	)	$	5,044		11	$	9,914	$	(4,289	)	$	5,625
Trade names		63,573		(11,845	)		51,728		15		63,589		(10,144	)		53,445
Customer relationships		161,565		(39,134	)		122,431		12		157,890		(32,422	)		125,468
Non-compete agreements		4,199		(3,572	)		627		4		4,268		(3,356	)		912
Unpatented technology		39,280		(7,478	)		31,802		14		36,047		(6,240	)		29,807
Other		6,226		(2,527	)		3,699		10		6,236		(2,239	)		3,997

Total amortizable intangible assets		284,564		(69,233	)		215,331				277,944		(58,690	)		219,254
Banjo trade name		62,100		—			62,100				62,100		—			62,100

	$	346,664	$	(69,233	)	$	277,431			$	340,044	$	(58,690	)	$	281,354

The Banjo trade name is an indefinite lived intangible asset which is tested for impairment on an annual basis or more frequently if events or changes in circumstances indicate that the asset might be impaired.

- Definition

Discloses the aggregate amount of goodwill and a description of intangible assets, which may include (a) for amortizable intangible assets (also referred to as finite-lived intangible assets), the carrying amount, the amount of any significant residual value, and the weighted-average amortization period, (b) for intangible assets not subject to amortization (also referred to as indefinite-lived intangible assets), the carrying amount, and (c) the amount of research and development assets acquired and written off in the period, including the line item in the income statement in which the amounts written off are aggregated, if not readily apparent from the income statement. Also discloses (a) for amortizable intangibles assets in total and by major class, the gross carrying amount and accumulated amortization, the total amortization expense for the period, and the estimated aggregate amortization expense for each of the five succeeding fiscal years, (b) for intangible assets not subject to amortization the carrying amount in total and by major class, and (c) for goodwill, in total and for each reportable segment, the changes in the carrying amount of goodwill during the period (including the aggregate amount of goodwill acquired, the aggregate amount of impairment losses recognized, and the amount of goodwill included in the gain or loss on disposal of a reporting unit). If any part of goodwill has not been allocated to a reportable segment, discloses the unallocated amount and the reasons for not allocating. For each impairment loss recognized related to an intangible asset (excluding goodwill), discloses: (a) a description of the impaired intangible asset and the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method for determining fair value, (c) the caption in the income statement or the statement of activities in which the impairment loss is aggregated, and (d) the segment in which the impaired intangible asset is reported. For each goodwill impairment loss recognized, discloses: (a) a description of the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method of determining the fair value of the associated reporting unit, and (c) if a recognized impairment loss is an estimate not finalized and the reasons why the estimate is not final. May also disclose the nature and amount of any significant adjustments made to a previous estimate of an impairment loss. This element may be used as a single block of text to include the entire intangible asset disclosure including data and tables.

+ References+ Details

Borrowings

6 Months Ended

Jun. 30, 2010

Borrowings [Abstract]

Borrowings


10.	Borrowings

Borrowings at June 30, 2010 and December 31, 2009 consisted of the following:


	June 30,		December 31,
	2010		2009
	(In thousands)

Credit Facility	$	275,614	$	298,732
Term Loan		90,000		95,000
Euro-denominated Senior Notes		98,869		—
Other borrowings		5,908		6,368

Total borrowings		470,391		400,100
Less current portion		10,559		8,346

Total long-term borrowings	$	459,832	$	391,754

The Company maintains a $600.0 million unsecured domestic, multi-currency bank revolving credit facility (“Credit Facility”), which expires on December 21, 2011. In 2008, the Credit Facility was amended to allow the Company to designate certain foreign subsidiaries as designated borrowers. Upon approval from the lenders, the designated borrowers were allowed to receive loans under the Credit Facility. A designated borrower sublimit was established as the lesser of the aggregate commitments or $100.0 million. As of the amendment date, Fluid Management Europe B.V., (FME) was approved by the lenders as a designated borrower. On March 16, 2010, IDEX UK Ltd. (“IDEX UK”) was also approved by the lenders as a designated borrower which allowed them to receive loans under the Credit Facility. FME had no borrowings under the Credit Facility as of June 30, 2010. IDEX UK’s borrowings under the Credit Facility at June 30, 2010 were £17.0 million ($25.6 million). As the IDEX UK’s borrowings under the Credit Facility are British Pound denominated and the cash flows that will be used to make payments of principal and interest are predominately denominated in British Pound, the Company does not anticipate any significant foreign exchange gains or losses in servicing this debt.

At June 30, 2010 there was $275.6 million outstanding under the Credit Facility and outstanding letters of credit totaled approximately $7.1 million. The net available borrowing under the Credit Facility as of June 30, 2010, was approximately $317.3 million. Interest is payable quarterly on the outstanding borrowings at the bank agent’s reference rate. Interest on borrowings based on LIBOR plus an applicable margin is payable on the maturity date of the borrowing, or quarterly from the effective date for borrowings exceeding three months. The applicable margin is based on the Company’s senior, unsecured, long-term debt rating and can range from 24 basis points to 50 basis points. Based on the Company’s BBB rating at June 30, 2010, the applicable margin was 40 basis points. An annual Credit Facility fee, also based on the Company’s credit rating, is currently 10 basis points and is payable quarterly.

At June 30, 2010 the Company had one interest rate exchange agreement related to the Credit Facility. The interest rate exchange agreement, expiring in January 2011, effectively converted $250.0 million of floating-rate debt into fixed-rate debt at an interest rate of 3.25%. This fixed rate consists of the fixed rate on the interest rate exchange agreement and the Company’s current margin of 40 basis points on the Credit Facility.

On April 18, 2008, the Company completed a $100.0 million unsecured senior bank term loan agreement (“Term Loan”) with covenants consistent with the existing Credit Facility and a maturity on December 21, 2011. At June 30, 2010, there was $90.0 million outstanding under the Term Loan with $7.5 million included within short term borrowings. Interest under the Term Loan is based on the bank agent’s reference rate or LIBOR plus an applicable margin and is payable at the end of the selected interest period, but at least quarterly. The applicable margin is based on the Company’s senior, unsecured, long-term debt rating and can range from 45 to 100 basis points. Based on the Company’s current debt rating, the applicable margin is 80 basis points. The Term Loan requires a repayment of $7.5 million in April 2011, with the remaining balance due on December 21, 2011. The Company used the proceeds from the Term Loan to pay down existing debt outstanding under the Credit Facility.

At June 30, 2010 the Company had an interest rate exchange agreement related to the Term Loan that expires in December 2011. With a current notional amount of $90.0 million, the agreement effectively converted $100.0 million of floating-rate debt into fixed-rate debt at an interest rate of 4.00%. The fixed rate consists of the fixed rate on the interest rate exchange agreement and the Company’s current margin of 80 basis points on the Term Loan.

On April 15, 2010, the Company entered into a forward setting interest rate contract with a notional amount of $300.0 million and an effective date of December 8, 2010 whereby the Company will pay fixed interest and will receive floating rate interest based on LIBOR on the effective date of December 8, 2010. This swap was entered into in anticipation of the expected issuance of $300.0 million of new debt during the fourth quarter of 2010 and was designed to lock in the current market interest rate as of April 15, 2010.

On June 9, 2010, the Company completed a private placement of €81.0 million ($96.8 million) aggregate principal amount of 2.58% Series 2010 Senior Notes due June 9, 2015 (“Senior Notes”) pursuant to a Master Note Purchase Agreement, dated June 9, 2010 (the “Purchase Agreement”). The Purchase Agreement provides for the issuance of additional series of notes in the future. The Senior Notes bear interest at a rate of 2.58% per annum and will mature on June 9, 2015. The Senior Notes are unsecured obligations of the Company and rank pari passu in right of payment with all of the Company’s other senior debt. The Company may at any time prepay all or any portion of the Senior Notes; provided that such portion is greater than 5% of the aggregate principal amount of the Senior Notes then outstanding under the Purchase Agreement. In the event of a prepayment, the Company will pay an amount equal to par plus accrued interest plus a make-whole premium. The Purchase Agreement contains certain covenants that restrict the Company’s ability to, among other things, transfer or sell assets, create liens and engage in certain mergers or consolidations. In addition, the Company must comply with a leverage ratio and interest coverage ratio as set forth in the Purchase Agreement. The Purchase Agreement provides for customary events of default. In the case of an event of default arising from specified events of bankruptcy or insolvency, all outstanding Senior Notes will become due and payable immediately without further action or notice. In the case of payment events of defaults, any holder of the Senior Notes affected thereby may declare all the Senior Notes held by it due and payable immediately. In the case of any other event of default, a majority of the holders of the Senior Notes may declare all the Senior Notes to be due and payable immediately. The Company used a portion of the proceeds from the private placement to pay down existing debt outstanding under the Euro denominated Credit Facility, with the remainder being used for ongoing business activities.

Derivative Instruments

6 Months Ended

Jun. 30, 2010

Derivative Instruments [Abstract]

Derivative Instruments


11.	Derivative Instruments

The Company enters into cash flow hedges to reduce the exposure to variability in certain expected future cash flows. The type of cash flow hedges the Company enters into includes foreign currency contracts and interest rate exchange agreements that effectively convert a portion of floating-rate debt to fixed-rate debt and are designed to reduce the impact of interest rate changes on future interest expense.

The effective portion of gains or losses on interest rate exchange agreements is reported in accumulated other comprehensive income in shareholders’ equity and reclassified into net income in the same period or periods in which the hedged transaction affects net income. The remaining gain or loss in excess of the cumulative change in the present value of future cash flows or the hedged item, if any, is recognized into net income during the period of change.

Fair values relating to derivative financial instruments reflect the estimated amounts that the Company would receive or pay to sell or buy the contracts based on quoted market prices of comparable contracts at each balance sheet date.

At June 30, 2010, the Company had three interest rate exchange agreements. The first interest rate exchange agreement, expiring in January 2011, effectively converted $250.0 million of floating-rate debt into fixed-rate debt at an interest rate of 3.25%. The second interest rate exchange agreement, expiring in December 2011, with a current notional amount of $90.0 million, effectively converted $100.0 million of floating-rate debt into fixed-rate debt at an interest rate of 4.00%. The fixed rate consists of the fixed rate on the interest rate exchange agreements and the Company’s current margin of 40 basis points for the Credit Facility and 80 basis points on the Term Loan. The forward setting interest rate contract currently has a notional amount of $300.0 million and an effective date of December 8, 2010. The Company will pay fixed interest and will receive floating rate interest based on LIBOR on the effective date of December 8, 2010. This instrument was entered into in anticipation of the expected issuance of $300.0 million of new debt during the fourth quarter of 2010 and was designed to lock in the current market interest rate as of April 15, 2010.

Based on interest rates at June 30, 2010, approximately $7.0 million of the amount included in accumulated other comprehensive income in shareholders’ equity at June 30, 2010 will be recognized to net income over the next 12 months as the underlying hedged transactions are realized.

At June 30, 2010, the Company had foreign currency exchange contracts with an aggregate notional amount of $5.5 million to manage its exposure to fluctuations in foreign currency exchange rates. The change in fair market value of these contracts for the six months ended June 30, 2010 was immaterial.

The following table sets forth the fair value amounts of derivative instruments held by the Company as of June 30, 2010 and December 31, 2009:


	Fair Value-Liabilities
	June 30,		December 31,
	2010		2009		Balance Sheet Caption
	(In thousands)

Forward setting interest rate contract	$	26,446	$	—	Accrued expenses
Interest rate exchange agreements		6,022		10,497	Other noncurrent liabilities
Foreign exchange contracts		3		—	Accrued expenses

The following table summarizes the net change recognized and the amounts and location of income (expense) and gain (loss) reclassified into income for interest rate contracts and foreign currency contracts as of June 30, 2010 and 2009:


	Gain (Loss)
	Recognized in
	Other					Expense
	Comprehensive					and Gain
	Income					Reclassified into Income
	Three Months Ended June 30,											Income
	2010			2009		2010			2009			Statement Caption
				(In thousands)

Interest rate agreements	$	(26,871	)	$	1,580	$	(2,279	)	$	(1,917	)	Interest expense
Foreign exchange contracts		2			450		—			133		Sales


	Gain (Loss)
	Recognized in
	Other						Expense
	Comprehensive						and Gain
	Income						Reclassified into Income
	Six Months Ended June 30,												Income
	2010			2009			2010			2009			Statement Caption
				(In thousands)

Interest rate agreements	$	(26,755	)	$	(192	)	$	(4,605	)	$	(3,609	)	Interest expense
Foreign exchange contracts		2			381			—			53		Sales

Fair Value Measurements

6 Months Ended

Jun. 30, 2010

Fair Value Measurements [Abstract]

Fair Value Measurements


12.	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 and liabilities at fair value on a recurring basis in the balance sheet at June 30, 2010 and December 31, 2009:


	Basis of Fair Value Measurements
	Balance at
	June 30, 2010		Level 1		Level 2		Level 3
	(In thousands)

Money market investment	$	47,051	$	47,051		—		—
Interest rate agreements	$	32,468		—	$	32,468		—
Foreign currency contracts	$	3		—	$	3		—


	Basis of Fair Value Measurements
	Balance at
	December 31, 2009		Level 1		Level 2		Level 3
			(In thousands)

Money market investment	$	9,186	$	9,186		—		—
Interest rate agreements	$	10,497		—	$	10,497		—

There were no transfers of assets or liabilities between Level 1 and Level 2 during the first six months of 2010.

In determining the fair value of the Company’s interest rate exchange agreement derivatives, the Company uses a present value of expected cash flows based on market observable interest rate yield curves commensurate with the term of each instrument and the credit default swap market to reflect the credit risk of either the Company or the counterparty.

The carrying value of our cash and cash equivalents, accounts receivable, accounts payable and accrued expenses approximates their fair values because of the short term nature of these instruments. At June 30, 2010, the fair value of our Credit Facility, Term Loan and Senior Notes, based on the current market rates for debt with similar credit risk and maturity, was approximately $455.4 million compared to the carrying value of $464.5 million.

- Definition

This item represents the complete disclosure regarding the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments, assets, and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the Company is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risk is are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References+ Details

Share Based Compensation

6 Months Ended

Jun. 30, 2010

Share Based Compensation [Abstract]

Share-Based Compensation


14.	Share-Based Compensation

During the six months ending June 30, 2010, the Company granted approximately 0.9 million stock options and 0.3 million unvested shares, respectively. During the six months ending June 30, 2009, the Company granted approximately 1.2 million stock options and 0.3 million unvested shares, respectively.

Total compensation cost for stock options is as follows:


	Three Months						Six Months
	Ended June 30,						Ended June 30,
	2010			2009			2010			2009
				(In thousands)

Cost of goods sold	$	271		$	214		$	529		$	538
Selling, general and administrative expenses		1,906			1,407			3,863			3,654

Total expense before income taxes		2,177			1,621			4,392			4,192
Income tax benefit		(713	)		(515	)		(1,413	)		(1,358	)

Total expense after income taxes	$	1,464		$	1,106		$	2,979		$	2,834

Total compensation cost for unvested shares is as follows:


	Three Months						Six Months
	Ended June 30,						Ended June 30,
	2010			2009			2010			2009
				(In thousands)

Cost of goods sold	$	138		$	62		$	265		$	124
Selling, general and administrative expenses		2,267			1,743			4,673			4,655

Total expense before income taxes		2,405			1,805			4,938			4,779
Income tax benefit		(483	)		(311	)		(1,050	)		(783	)

Total expense after income taxes	$	1,922		$	1,494		$	3,888		$	3,996

Classification of stock compensation cost within the Consolidated Statements of Operations is consistent with classification of cash compensation for the same employees and $0.1 million of compensation cost was capitalized as part of inventory.

As of June 30, 2010, there was $13.7 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, and $14.2 million of total unrecognized compensation cost related to unvested shares that is expected to be recognized over a weighted-average period of 1.1 years.

Retirement Benefits

6 Months Ended

Jun. 30, 2010

Retirement Benefits [Abstract]

Retirement Benefits


15.	Retirement Benefits

The Company sponsors several qualified and nonqualified defined benefit and defined contribution pension plans and other postretirement plans for its employees. The following tables provide the components of net periodic benefit cost for its major defined benefit plans and its other postretirement plans.


	Pension Benefits
	Three Months Ended June 30,
	2010						2009
	U.S.			Non-U.S.			U.S.			Non-U.S.
				(In thousands)

Service cost	$	469		$	173		$	351		$	203
Interest cost		1,139			519			1,079			520
Expected return on plan assets		(1,108	)		(80	)		(840	)		(193	)
Net amortization		1,127			72			1,218			91

Net periodic benefit cost	$	1,627		$	684		$	1,808		$	621


	Pension Benefits
	Six Months Ended June 30,
	2010						2009
	U.S.			Non-U.S.			U.S.			Non-U.S.
				(In thousands)

Service cost	$	938		$	357		$	776		$	395
Interest cost		2,279			1,071			2,188			1,013
Expected return on plan assets		(2,216	)		(163	)		(1,753	)		(372	)
Net amortization		2,254			148			2,436			177

Net periodic benefit cost	$	3,255		$	1,413		$	3,647		$	1,213


	Other Postretirement Benefits
	Three Months Ended					Six Months Ended
	June 30,					June 30,
	2010			2009		2010			2009
				(In thousands)

Service cost	$	130		$	146	$	260		$	292
Interest cost		260			337		519			674
Net amortization		(76	)		12		(175	)		24

Net periodic benefit cost	$	314		$	495	$	604		$	990

The Company previously disclosed in its financial statements for the year ended December 31, 2009, that it expected to contribute approximately $4.7 million to these pension plans and $1.0 million to its other postretirement benefit plans in 2010. As of June 30, 2010, $2.3 million of contributions have been made to the pension plans and $0.5 million have been made to its other postretirement benefit plans. The Company presently anticipates contributing up to an additional $2.9 million in 2010 to fund these pension plans and other postretirement benefit plans.

In March of 2010 the United States enacted two new laws relating to healthcare. The enactment of the Patient Protection and Affordable Care Act and the Health Care and Education Reconciliation Act of 2010 has resulted in comprehensive health care reform. The Company is currently evaluating the requirements and effect of this new legislation and does not expect it to have a material impact on the consolidated financial position, results of operations or cash flows of the Company.

- Definition

Description containing the entire pension and other postretirement benefits disclosure as a single block of text.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 158

-Paragraph 7, 21, 22

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 132R

-Paragraph 5, 6, 7, 8

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 132R

-Paragraph 8

-Subparagraph m

Reference 4: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 106

-Paragraph 518

Reference 5: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 87

-Paragraph 264

Reference 6: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 132R

-Paragraph 5

-Subparagraph b

Reference 7: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 132R

-Paragraph 5

-Subparagraph a

Reference 8: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 132R

-Paragraph 5

-Subparagraph h

Reference 9: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 132R

-Paragraph 5

-Subparagraph q

Reference 10: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name FASB Staff Position (FSP)

-Number FAS106-2

-Paragraph 20, 21, 22

Reference 11: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Emerging Issues Task Force (EITF)

-Number 03-2

-Paragraph 8

Reference 12: http://www.xbrl.org/2003/role/presentationRef

-Publisher AICPA

-Name Accounting Principles Board Opinion (APB)

-Number 30

-Paragraph 26

Reference 13: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Implementation Guide (Q and A)

-Number FAS88

-Paragraph 63

+ Details

Income Taxes

6 Months Ended

Jun. 30, 2010

Income Taxes [Abstract]

Income Taxes


17.	Income Taxes

The Company’s provision for income taxes is based upon estimated annual tax rates for the year applied to federal, state and foreign income. The provision for income taxes increased to $19.0 million in the second quarter of 2010 from $14.0 million in the second quarter of 2009. The effective tax rate decreased to 32.0% for the second quarter of 2010 compared to 33.4% in the second quarter of 2009 due to the mix of global pre-tax income among jurisdictions.

The provision for income taxes increased to $37.1 million in the first six months of 2010 from $25.5 million in the same period of 2009. The effective tax rate decreased to 32.5% for the first six months of 2010 compared to 33.6% in the same period of 2009 due to the mix of global pre-tax income among jurisdictions.

The Company and its subsidiaries file income tax returns in the U.S. federal jurisdiction, and various state and foreign jurisdictions. Due to the potential for resolution of federal, state and foreign examinations, and the expiration of various statutes of limitation, it is reasonably possible that the Company’s gross unrecognized tax benefits balance may change within the next twelve months by a range of zero to $0.6 million.

Subsequent Events

6 Months Ended

Jun. 30, 2010

Subsequent Events [Abstract]

Subsequent Events


18.	Subsequent Events

On July 21, 2010, the Company acquired OBL, S.r.l. (“OBL”) for cash consideration of approximately $16.8 million (€13.1 million). OBL, a leading provider of mechanical and hydraulic diaphragm pumps, provides polymer blending systems and related accessories for a diverse range of global industries, including water, waste water, oil and gas, petro-chemical and power generation markets. Headquartered in Milan, Italy, with annual revenues of approximately $10.9 million (€8.5 million), OBL will operate within IDEX’s Fluid and Metering Technologies segment as part of the Water and Waste Water Group of Companies.

Condensed Consolidated Statements of Shareholders' Equity (Unaudited) (Parenthetical) (USD $)	6 Months Ended
	Jun. 30, 2010
Issuance of common stock from exercise of stock options and deferred compensation plans, Shares	580,073
Cash dividend declared, per common share	$ 0.3
Common Stock and Additional Paid-In Capital
Issuance of common stock from exercise of stock options and deferred compensation plans, Shares	580,073
Retained Earnings
Cash dividend declared, per common share	$ 0.3