Document and Entity Information (USD $)	12 Months Ended
Document and Entity Information (USD $)	Dec. 31, 2014	Feb. 17, 2015	Jun. 30, 2014
Document Documentand Entity Information [Abstract]
Document Type	10-K
Amendment Flag	false
Document Period End Date	Dec. 31, 2014
Document Fiscal Year Focus	2014
Document Fiscal Period Focus	FY
Trading Symbol	IEX
Entity Registrant Name	IDEX CORP /DE/
Entity Central Index Key	0000832101
Current Fiscal Year End Date	--12-31
Entity Well-known Seasoned Issuer	Yes
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		78,232,245
Entity Public Float			$ 6,428,282,555

CONSOLIDATED BALANCE SHEETS (USD $) In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013
Current assets
Cash and cash equivalents	$ 509,137	$ 439,629
Receivables — net	256,040	253,226
Inventories	237,631	230,967
Other current assets	72,983	67,131
Total current assets	1,075,791	990,953
Property, plant and equipment — net	219,543	213,488
Goodwill	1,321,277	1,349,456
Intangible assets — net	271,164	311,227
Other noncurrent assets	20,295	22,453
Total assets	2,908,070	2,887,577
Current liabilities
Trade accounts payable	127,462	133,312
Accrued expenses	163,409	150,751
Short-term borrowings	98,946	1,871
Dividends payable	22,151	18,675
Total current liabilities	411,968	304,609
Long-term borrowings	765,006	772,005
Deferred income taxes	130,368	144,908
Other noncurrent liabilities	114,277	93,066
Total liabilities	1,421,619	1,314,588
Commitments and contingencies (Note 8)
Preferred stock:
Authorized: 5,000,000 shares, $.01 per share par value; Issued: none	0	0
Common stock:
Authorized: 150,000,000 shares, $.01 per share par value; Issued: 89,761,305 shares at December 31, 2014 and 89,154,190 shares at December 31, 2013	898	892
Additional paid-in capital	647,553	607,766
Retained earnings	1,483,821	1,293,740
Treasury stock at cost: 10,995,361 shares at December 31, 2014 and 7,958,510 shares at December 31, 2013	(553,543)	(326,104)
Accumulated other comprehensive loss	(92,278)	(3,305)
Total shareholders’ equity	1,486,451	1,572,989
Total liabilities and shareholders’ equity	$ 2,908,070	$ 2,887,577

CONSOLIDATED BALANCE SHEETS (Parenthetical) (USD $)	Dec. 31, 2014	Dec. 31, 2013
Statement of Financial Position [Abstract]
Preferred stock, shares authorized	5,000,000	5,000,000
Preferred stock, par value	$ 0.01	$ 0.01
Preferred stock, shares issued	0	0
Common stock, shares authorized	150,000,000	150,000,000
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares issued	89,761,305	89,154,190
Treasury stock, shares	10,995,361	7,958,510

CONSOLIDATED STATEMENTS OF OPERATIONS (USD $)
In Thousands, except Per Share data, unless otherwise specified

12 Months Ended

Dec. 31, 2014

Dec. 31, 2013

Dec. 31, 2012

Income Statement [Abstract]

Net sales

$ 2,147,767

$ 2,024,130

$ 1,954,258

Cost of sales

1,198,452

1,150,766

1,150,558

Gross profit

949,315

873,364

803,700

Selling, general and administrative expenses

504,419

477,851

444,490

Asset impairments

198,519

Restructuring expenses

13,672

32,473

Operating income

431,224

^[1]

395,513

^[1]

128,218

^[1]

Other (income) expense — net

(3,111)

178

(236)

Interest expense

41,895

42,206

42,250

Income before income taxes

392,440

353,129

86,204

Provision for income taxes

113,054

97,914

48,574

Net income

$ 279,386

$ 255,215

$ 37,630

Earnings per common share:

Basic earnings per common share

$ 3.48

$ 3.11

$ 0.45

Diluted earnings per common share

$ 3.45

$ 3.09

$ 0.45

Share data:

Basic weighted average common shares outstanding

79,715

81,517

82,689

Diluted weighted average common shares outstanding

80,728

82,489

83,641

[1]	Segment operating income (loss) excludes net unallocated corporate operating expenses.

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (USD $) In Thousands, unless otherwise specified	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Statement of Comprehensive Income [Abstract]
Net income	$ 279,386	$ 255,215	$ 37,630
Other comprehensive income (loss)
Reclassification adjustments for derivatives, net of tax	4,510	4,738	4,780
Pension and other postretirement adjustments, net of tax	(16,459)	21,788	(7,159)
Cumulative translation adjustment	(77,024)	13,572	14,445
Comprehensive income	$ 190,413	$ 295,313	$ 49,696

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References+ Details

CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY (USD $) In Thousands	Total	Common Stock and Additional Paid-In Capital	Retained Earnings	Cumulative Translation Adjustment	Retirement Benefits Adjustments	Cumulative Unrealized Gain (Loss) on Derivatives	Treasury Stock
Balance at Dec. 31, 2011	$ 1,513,135	$ 490,988	$ 1,142,412	$ 24,194	$ (38,486)	$ (41,177)	$ (64,796)
Net income	37,630		37,630
Cumulative translation adjustment	14,445			14,445
Net change in retirement obligations, net of tax	(7,159)				(7,159)
Net change on derivatives designated as cash flow hedges, net of tax	4,780					4,780
Issuance of common stock from issuance of unvested shares, exercise of stock options and deferred compensation plans, net of tax	49,721	49,721
Repurchase of common stock	(89,563)						(89,563)
Share-based compensation	10,850	10,850
Unvested shares surrendered for tax withholding	(2,340)						(2,340)
Cash dividends declared	(66,501)		(66,501)
Balance at Dec. 31, 2012	1,464,998	551,559	1,113,541	38,639	(45,645)	(36,397)	(156,699)
Net income	255,215		255,215
Cumulative translation adjustment	13,572			13,572
Net change in retirement obligations, net of tax	21,788				21,788
Net change on derivatives designated as cash flow hedges, net of tax	4,738					4,738
Issuance of common stock from issuance of unvested shares, exercise of stock options and deferred compensation plans, net of tax	43,749	43,749
Repurchase of common stock	(167,503)						(167,503)
Share-based compensation	13,350	13,350
Unvested shares surrendered for tax withholding	(1,902)						(1,902)
Cash dividends declared	(75,016)		(75,016)
Balance at Dec. 31, 2013	1,572,989	608,658	1,293,740	52,211	(23,857)	(31,659)	(326,104)
Net income	279,386		279,386
Cumulative translation adjustment	(77,024)			(77,024)
Net change in retirement obligations, net of tax	(16,459)				(16,459)
Net change on derivatives designated as cash flow hedges, net of tax	4,510					4,510
Issuance of common stock from issuance of unvested shares, exercise of stock options and deferred compensation plans, net of tax	23,195	23,195
Repurchase of common stock	(222,487)						(222,487)
Share-based compensation	16,598	16,598
Unvested shares surrendered for tax withholding	(4,952)						(4,952)
Cash dividends declared	(89,305)		(89,305)
Balance at Dec. 31, 2014	$ 1,486,451	$ 648,451	$ 1,483,821	$ (24,813)	$ (40,316)	$ (27,149)	$ (553,543)

CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY (Parenthetical) (USD $) In Thousands, except Share data, unless otherwise specified	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Statement of Stockholders' Equity [Abstract]
Tax benefit (expense) on change in retirement obligations, tax	$ 6,852	$ (13,085)	$ 1,647
Tax benefit from change on derivatives designated as cash flow hedges, tax	2,713	2,692	2,791
Issuance of common stock from issuance of unvested shares, exercise of stock options and deferred compensation plans, shares	571,751	1,471,568	1,826,977
Repurchase of common stock, shares	2,970,461	2,916,280	2,182,946
Issuance of common stock from issuance of unvested shares, exercise of stock options and deferred compensation plans, tax	$ 3,425	$ 4,514	$ 4,865
Cash dividends declared, per common share outstanding	$ 1.12	$ 0.89	$ 0.80

CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $) In Thousands, unless otherwise specified	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Cash flows from operating activities
Net income	$ 279,386	$ 255,215	$ 37,630
Adjustments to reconcile net income to net cash provided by operating activities:
Gain on sale of fixed assets	(351)	(96)	0
Asset impairments	2,473	2,747	198,519
Depreciation and amortization	33,720	35,007	36,827
Amortization of intangible assets	43,187	44,327	41,485
Amortization of debt issuance expenses	1,723	1,703	1,685
Share-based compensation expense	20,717	16,993	13,102
Deferred income taxes	(8,593)	(3,156)	(37,229)
Excess tax benefit from share-based compensation	(6,275)	(8,560)	(4,474)
Non-cash interest expense associated with forward starting swaps	7,223	7,430	7,637
Changes in (net of the effect from acquisitions):
Receivables	(11,110)	6,195	12,747
Inventories	(7,821)	9,088	23,799
Other current assets	(5,201)	6,562	(12,127)
Trade accounts payable	(2,466)	15,460	(1,376)
Accrued expenses	23,760	11,790	9,944
Other — net	(2,411)	817	(1,989)
Net cash flows provided by operating activities	367,961	401,522	326,180
Cash flows from investing activities
Purchases of property, plant and equipment	(47,997)	(31,536)	(35,807)
Acquisition of businesses, net of cash acquired	(25,443)	(36,849)	(68,930)
Proceeds from fixed asset disposals	1,460	567	0
Other — net	(280)	(344)	(529)
Net cash flows used in investing activities	(72,260)	(68,162)	(105,266)
Cash flows from financing activities
Borrowings under revolving credit facilities	165,014	73,101	129,479
Payments under revolving credit facilities	(61,951)	(89,478)	(158,825)
Dividends paid	(85,726)	(72,905)	(64,087)
Proceeds from stock option exercises	17,161	35,306	45,771
Excess tax benefit from share-based compensation	6,275	8,560	4,474
Purchase of common stock	(219,893)	(167,503)	(89,563)
Unvested shares surrendered for tax withholding	(4,952)	(1,902)	(2,340)
Other	0	(4,224)	(1,394)
Net cash flows used in financing activities	(184,072)	(219,045)	(136,485)
Effect of exchange rate changes on cash and cash equivalents	(42,121)	6,450	4,176
Net increase in cash	69,508	120,765	88,605
Cash and cash equivalents at beginning of year	439,629	318,864	230,259
Cash and cash equivalents at end of period	509,137	439,629	318,864
Cash paid for:
Interest	32,565	33,432	32,639
Income taxes	122,295	73,657	87,603
Significant non-cash activities:
Contingent consideration for acquisition	0	0	8,370
Debt acquired with acquisition of business	$ 0	$ 0	$ 4,680

Significant Accounting Policies

12 Months Ended

Dec. 31, 2014

Accounting Policies [Abstract]

Significant Accounting Policies

Business

IDEX is an applied solutions company specializing in fluid and metering technologies, health and science technologies, and fire, safety and other diversified products built to its customers’ specifications. IDEX's products are sold in niche markets to a wide range of industries throughout the world. The Company’s products include industrial pumps, compressors, flow meters, injectors and valves, and related controls for use in a wide variety of process applications; precision fluidics solutions, including pumps, valves, degassing equipment, corrective tubing, fittings, and complex manifolds, precision photonic solutions, optical filters and specialty medical equipment and devices used in life science applications; precision-engineered equipment for dispensing, metering and mixing paints; refinishing equipment; and engineered products for industrial and commercial markets, including fire and rescue, transportation equipment, oil and gas, electronics, and communications. These activities are grouped into three reportable segments: Fluid & Metering Technologies, Health & Science Technologies and Fire & Safety/Diversified Products.

Principles of Consolidation

The consolidated financial statements include the Company and its subsidiaries. All intercompany transactions and accounts have been eliminated.

Use of Estimates

The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and judgments that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities, and reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates. The principal areas of estimation reflected in the financial statements are revenue recognition, sales returns and allowances, allowance for doubtful accounts, inventory valuation, recoverability of long-lived assets, income taxes, product warranties, contingencies and litigation, insurance-related items, defined benefit retirement plans and purchase accounting related to acquisitions.

Revenue Recognition

The Company recognizes revenue when persuasive evidence of an arrangement exists, delivery has occurred, the sales price is fixed or determinable, and collectability of the sales price is reasonably assured. For product sales, delivery does not occur until the products have been shipped and risk of loss has been transferred to the customer. Revenue from services is recognized when the services are provided or ratably over the contract term. Some arrangements with customers may include multiple deliverables, including the combination of products and services. In such cases the Company has identified these as separate elements in accordance with ASC 605-25 and recognizes revenue consistent with the policy for each separate element based on the relative selling price method. Revenues from certain long-term contracts are recognized on the percentage-of-completion method. Percentage-of-completion is measured principally by the percentage of costs incurred to date for each contract to the estimated total costs for such contract at completion. Provisions for estimated losses on uncompleted long-term contracts are made in the period in which such losses are determined. Due to uncertainties inherent in the estimation process, it is reasonably possible that completion costs, including those arising from contract penalty provisions and final contract settlements, will be revised in the near-term. Such revisions to costs and income are recognized in the period in which the revisions are determined.

The Company records allowances for discounts, product returns and customer incentives at the time of sale as a reduction of revenue as such allowances can be reliably estimated based on historical experience and known trends. The Company also offers product warranties and accrues its estimated exposure for warranty claims at the time of sale based upon the length of the warranty period, warranty costs incurred and any other related information known to the Company.

Shipping and Handling Costs

Shipping and handling costs are included in cost of sales and are recognized as a period expense during the period in which they are incurred.

Advertising Costs

Advertising costs of $14.5 million, $14.6 million and $15.3 million for 2014, 2013 and 2012, respectively, are expensed as incurred within Selling, general and administrative expenses.

Cash and Cash Equivalents

The Company considers all highly liquid instruments purchased with an original maturity of 90 days or less to be cash and cash equivalents.

Allowance for Doubtful Accounts

The Company maintains allowances for doubtful accounts for estimated losses as a result of customer’s inability to make required payments. Management evaluates the aging of the accounts receivable balances, the financial condition of its customers, historical trends and the time outstanding of specific balances to estimate the amount of accounts receivables that may not be collected in the future and records the appropriate provision.

Inventories

The Company states inventories at the lower of cost or market. Cost, which includes material, labor, and factory overhead, is determined on a FIFO basis. We make adjustments to reduce the cost of inventory to its net realizable value, if required, at the business unit level for estimated excess, obsolescence or impaired balances. Factors influencing these adjustments include changes in market demand, product life cycle and engineering changes.

Impairment of Long-Lived Assets

Long-lived assets are reviewed for impairment upon the occurrence of events or changes in circumstances that indicate that the carrying value of the assets may not be recoverable, as measured by comparing their net book value to the projected undiscounted future cash flows generated by their use. Impaired assets are recorded at their estimated fair value based on a discounted cash flow analysis.

A long-lived asset impairment exists when the carrying amount of the asset exceeds its fair value. Assessments of possible impairments of long-lived assets are made when events or changes in circumstances indicate that the carrying value of the asset may not be recoverable through future operations. The amount and timing of impairment charges for these assets require the estimation of future cash flows and the fair value of the related assets. In 2014, 2013 and 2012, the Company concluded that certain long lived assets had a fair value that was less than the carrying value of the assets, resulting in $2.5 million, $2.7 million and $7.0 million, respectively, of long-lived asset impairment charges.

Goodwill and Indefinite-Lived Intangible Assets

In accordance with ASC 350, the Company reviews the carrying value of goodwill and indefinite-lived intangible assets annually on October 31, or upon the occurrence of events or changes in circumstances that indicate that the carrying value of the goodwill or intangible assets may not be recoverable. The Company evaluates the recoverability of these assets based on the estimated fair value of each of the fifteen reporting units and the indefinite-lived intangible asset. See Note 4 for a further discussion on goodwill and intangible assets.

Borrowing Expenses

Expenses incurred in securing and issuing debt are capitalized and included in Other noncurrent assets. These assets are amortized over the life of the related borrowing and the related amortization is included in Interest expense in the Consolidated Statements of Operations.

Earnings per Common Share

Earnings per common share (“EPS”) is computed by dividing net income by the weighted average number of shares of common stock (basic) plus common stock equivalents (diluted) outstanding during the year. 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, performance share units, and shares issuable in connection with certain deferred compensation agreements ("DCUs").

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 were computed using the two-class method prescribed by ASC 260. Net income attributable to common shareholders was reduced by $1.3 million, $1.2 million and $0.1 million in 2014, 2013 and 2012, respectively.

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



	2014	2013	2012
	(In thousands)
Basic weighted average common shares outstanding	79,715	81,517	82,689
Dilutive effect of stock options, unvested shares, performance share units and DCUs	1,013	972	952
Diluted weighted average common shares outstanding	80,728	82,489	83,641

Options to purchase approximately 0.5 million, zero and 1.2 million shares of common stock in 2014, 2013 and 2012, respectively, were not included in the computation of diluted EPS because the effect of their inclusion would have been antidilutive.

Share-Based Compensation

The Company accounts for share-based payments in accordance with ASC 718. Accordingly, the Company expenses the fair value of awards made under its share-based compensation plans. That cost is recognized in the consolidated financial statements over the requisite service period of the grants. See Note 13 for further discussion on share-based compensation.

Depreciation and Amortization

Property and equipment are stated at cost, with depreciation and amortization provided using the straight-line method over the following estimated useful lives:



Land improvements	8 to 12 years
Buildings and improvements	8 to 30 years
Machinery, equipment and other	3 to 12 years
Office and transportation equipment	3 to 10 years

Certain identifiable intangible assets are amortized over their estimated useful lives using the straight-line method. The estimated useful lives used in the computation of amortization of identifiable intangible assets are as follows:



Patents	5 to 17 years
Trade names	10 to 20 years
Customer relationships	5 to 20 years
Non-compete agreements	3 years
Unpatented technology and other	5 to 20 years

Research and Development Expenditures

Costs associated with research and development are expensed in the period incurred and are included in Cost of sales within the Consolidated Statements of Operations. Research and development expenses, which include costs associated with developing new products and major improvements to existing products, were $36.8 million, $33.0 million and $36.4 million in 2014, 2013 and 2012, respectively.

Foreign Currency Translation

The functional currency of substantially all operations outside the United States is the respective local currency. Accordingly, those foreign currency balance sheet accounts have been translated using the exchange rates in effect as of the balance sheet date. Income statement amounts have been translated using the average exchange rate for the year. The gains and losses resulting from changes in exchange rates from year to year have been reported in Accumulated other comprehensive loss in the Consolidated Balance Sheets. The foreign currency transaction losses for the period ending December 31, 2014, 2013 and 2012 were $0.9 million, $2.2 million, and $2.3 million, respectively, and are reported within Other (income) expense-net on the Consolidated Statements of Operations.

Income Taxes

Income tax expense includes United States, state, local and international income taxes. Deferred tax assets and liabilities are recognized for the tax consequences of temporary differences between the financial reporting and the tax basis of existing assets and liabilities and for loss carryforwards. The tax rate used to determine the deferred tax assets and liabilities is the enacted tax rate for the year and manner in which the differences are expected to reverse. Valuation allowances are recorded to reduce deferred tax assets to the amount that will more likely than not be realized.

Concentration of Credit Risk

The Company is not dependent on a single customer, the largest of which accounted for less than 2% of net sales for all years presented.

New Accounting Pronouncements

In May 2014, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2014-09 which introduces a new five-step revenue recognition model. Under ASU 2014-09, an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. This ASU also requires disclosures sufficient to enable users to understand the nature, amount, timing, and uncertainty of revenue and cash flows arising from contracts with customers, including qualitative and quantitative disclosures about contracts with customers, significant judgments and changes in judgments, and assets recognized from the costs to obtain or fulfill a contract. This standard is effective for fiscal years beginning after December 15, 2016, using either of the following transition methods: (i) a full retrospective approach reflecting the application of the standard in each prior reporting period with the option to elect certain practical expedients, or (ii) a retrospective approach with the cumulative effect of initially adopting ASU 2014-09 recognized at the date of adoption. The Company is currently evaluating the impact of the new guidance on our consolidated financial statements and have not yet determined the method by which we will adopt the standard in 2017.

Acquisitions

12 Months Ended

Dec. 31, 2014

Business Combinations [Abstract]

Acquisitions

All of the Company’s acquisitions have been accounted for under ASC 805, Business Combinations. Accordingly, the accounts of the acquired companies, after adjustments to reflect fair values assigned to assets and liabilities, have been included in the consolidated financial statements from their respective dates of acquisition. The results of operations of the acquired companies have been included in the Company’s consolidated results since the date of each acquisition. Supplemental pro forma information has not been provided as the acquisitions did not have a material impact on the Company’s consolidated results of operations individually or in aggregate.

2014 Acquisitions

On April 28, 2014, the Company acquired the stock of Aegis Flow Technologies ("Aegis"), a leader in the design,

manufacture and sale of specialty chemical processing valves for use in the chemical, petro-chemical, chlor-alkali,

pharmaceutical, semiconductor and pulp/paper industries. Located in Geismar, Louisiana, Aegis has annual revenues of

approximately $15.0 million and operates in our Chemical, Food & Process platform within our Fluid & Metering

Technologies segment. Aegis was acquired for cash consideration of approximately $25 million. The entire purchase price was

funded with borrowings under the Company's Revolving Facility. Goodwill and intangible assets recognized as part of this

transaction were $7.7 million and $8.8 million, respectively. The $7.7 million of goodwill is deductible for tax purposes.

The purchase price for Aegis has been allocated to the assets acquired and liabilities assumed based on estimated fair values at the date of the acquisition.

The allocation of the acquisition costs to the assets acquired and liabilities assumed, based on their estimated fair values, is as follows:



(In thousands)
Accounts receivable	$	1,147
Inventory	6,230
Other current assets, net of cash acquired	232
Property, plant and equipment	2,988
Goodwill	7,711
Intangible assets	8,770
Total assets acquired	27,078
Total liabilities assumed	(1,633		)
Net assets acquired	$	25,445

Acquired intangible assets consist of trade names, customer relationships and unpatented technology. The goodwill recorded for the acquisitions reflects the strategic fit and revenue and earnings growth potential of these businesses.

The acquired intangible assets and weighted average amortization periods are as follows:



(In thousands, except weighted average life)	Total		Weighted Average Life
Trade names	$	3,304	15
Customer relationships	4,393		13.5
Unpatented technology	1,073		7.5
Total acquired intangible assets	$	8,770

The Company incurred $1.7 million of acquisition-related transaction costs in 2014. These costs were recorded in selling, general and administrative expense and were related to completed transactions, pending transactions and potential transactions, including transactions that ultimately were not completed. The Company incurred $1.3 million of non-cash acquisition fair value inventory charges in 2014. These charges were recorded in cost of sales.

2013 Acquisitions

On March 18, 2013, the Company acquired the stock of FTL Seals Technology, Ltd (“FTL”). FTL specializes in the design and application of high integrity rotary seals, specialty bearings, and other custom products for the oil & gas, mining, power generation, and marine markets. Located in Leeds, England, FTL, along with Precision Polymer Engineering (“PPE”), operates within the Health & Science Technologies segment as part of the Sealing Solutions group and will expand the range of PPE’s technology expertise and markets served. FTL was acquired for an aggregate purchase price of $34.5 million (£23.1 million) in cash. The entire purchase price was funded with borrowings under the Revolving Facility. Goodwill and intangible assets recognized as part of this transaction were $18.0 million and $13.0 million, respectively. The $18.0 million of goodwill is not deductible for tax purposes.

The purchase price for FTL has been allocated to the assets acquired and liabilities assumed based on estimated fair values at the date of the acquisition.

The allocation of the acquisition costs to the assets acquired and liabilities assumed, based on their estimated fair values, is as follows:



(In thousands)
Accounts receivable	$	3,454
Inventory	4,524
Other current assets, net of cash acquired	131
Property, plant and equipment	1,357
Goodwill	17,994
Intangible assets	13,016
Total assets acquired	40,476
Total liabilities assumed	(5,939		)
Net assets acquired	$	34,537

Acquired intangible assets consist of trade names, non-compete agreements, customer relationships and unpatented technology. The goodwill recorded for the acquisitions reflects the strategic fit and revenue and earnings growth potential of these businesses.

The acquired intangible assets and weighted average amortization periods are as follows:



(In thousands, except weighted average life)	Total		Weighted Average Life
Trade names	$	1,005	15
Non-compete agreements	224		3
Customer relationships	10,950		9
Unpatented technology	837		8
Total acquired intangible assets	$	13,016

The Company incurred $1.4 million of acquisition-related transaction costs in 2013. These costs were recorded in selling, general and administrative expense and were related to completed transactions, pending transactions and potential transactions, including transactions that ultimately were not completed. The Company incurred $1.8 million of non-cash acquisition fair value inventory charges in 2013. These charges were recorded in cost of sales.

2012 Acquisitions

On April 11, 2012, the Company acquired the stock of Precision Photonics Corporation ("PPC"). PPC specializes in optical components and coatings for applications in the fields of scientific research, aerospace, telecommunications and electronics manufacturing. Located in Boulder, Colorado, PPC operates within the Health & Science Technologies segment as a part of the IOP platform. The Company acquired PPC for an aggregate purchase price of $20.6 million in cash, which was funded from operations. Goodwill and intangible assets recognized as part of this transaction were $13.9 million and $5.1 million, respectively. The $13.9 million of goodwill is not deductible for tax purposes.

On April 30, 2012, the Company acquired the stock of ERC. ERC is a leader in the manufacture of gas liquid separations and detection solutions for the life science, analytical instrumentation and clinical chemistry markets. ERC’s pioneering products include in-line membrane vacuum degassing solutions, refractive index detectors and ozone generation systems. ERC’s original equipment degassing solutions are considered the “standard” for many of the world’s leading instrument producers. Located in Kawaguchi, Japan, ERC operates within the Health & Science Technologies segment as part of the Scientific Fluidics platform. The Company acquired ERC for an aggregate purchase price of $18.0 million (¥1.47 billion), consisting of $13.3 million in cash and assumption of approximately $4.7 million of debt. The cash payment was financed with borrowings under the Revolving Facility. Goodwill and intangible assets recognized as part of this transaction were $8.5 million and $5.6 million, respectively. The $8.5 million of goodwill is not deductible for tax purposes.

On July 20, 2012, the Company acquired the stock of Matcon. Matcon is a global leader in material processing solutions for high value powders used in the manufacture of pharmaceuticals, food, plastics, and fine chemicals. Matcon’s innovative products include the original cone valve powder discharge system and filling, mixing and packaging systems, all of which support their customers’ automation and process requirements. Matcon’s products are critical to their customers’ need to maintain clean, reliable and repeatable formulations of prepackaged foods and pharmaceuticals while helping them achieve lean and agile manufacturing. Located in Evesham, Worcestershire, England, Matcon operates within the Health & Science Technologies segment in the MPT platform. The Company acquired Matcon for an aggregate purchase price of $45.8 million (£29.1 million), consisting of $35.0 million in cash, $2.4 million of working capital adjustments paid in the second quarter of 2013, and contingent consideration valued at $8.4 million as of the opening balance sheet date. The contingent consideration amount was based on 2012 and 2013 earnings before interest, income taxes, depreciation and amortization for Matcon. In April 2013, the Company paid $3.8 million on the contingent consideration arrangement based on Matcon's 2012 operating results. In November 2013, the Company paid $1.1 million of the contingent consideration arrangement based on a settlement agreement with the sellers and the remaining amount was recognized as a benefit within Selling, general and administrative expenses.

Approximately $15.0 million of the purchase price cash payment was financed with borrowings under the Revolving Facility. Goodwill and intangible assets recognized as part of this transaction were $28.0 million and $14.1 million, respectively. The $28.0 million of goodwill is not deductible for tax purposes.

The purchase price for PPC, ERC and Matcon were allocated to the assets acquired and liabilities assumed based on estimated fair values at the date of the acquisition.

The allocation of the acquisition costs to the assets acquired and liabilities assumed, based on their estimated fair values, is as follows:



(In thousands)	ERC			PPC			Matcon			Total
Accounts receivable	$	5,766		$	877		$	7,768		$	14,411
Inventory	4,224			932			604			5,760
Other current assets, net of cash acquired	981			252			1,880			3,113
Property, plant and equipment	2,738			1,936			5,695			10,369
Goodwill	8,499			13,941			27,947			50,387
Intangible assets	5,642			5,104			14,081			24,827
Other assets	1,509			13			53			1,575
Total assets acquired	29,359			23,055			58,028			110,442
Total liabilities assumed	(16,074		)	(2,465		)	(12,215		)	(30,754		)
Net assets acquired	$	13,285		$	20,590		$	45,813		$	79,688

The acquired intangible assets and weighted average amortization periods are as follows:



(In thousands, except weighted average life)	Total		Weighted Average Life
Trade names	$	8,973	15
Non-compete agreements	470		3
Customer relationships	11,343		6
Unpatented technology	4,041		8
2012 acquired intangible assets	$	24,827

The Company incurred $2.7 million of acquisition-related transaction costs in 2012. These costs were recorded in selling, general and administrative expense and were related to completed transactions, pending transactions and potential transactions, including certain transactions that ultimately were not completed. During 2012, the Company recorded $0.9 million of fair value inventory charges associated with these acquisitions, which were recorded in cost of sales.

- Definition

The entire disclosure for a business combination (or series of individually immaterial business combinations) completed during the period, including background, timing, and recognized assets and liabilities. The disclosure may include leverage buyout transactions (as applicable).

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+ Details

Balance Sheet Components

12 Months Ended

Dec. 31, 2014

Additional Financial Information Disclosure [Abstract]

Balance Sheet Components



	December 31,
	2014		2013
	(In thousands)
RECEIVABLES
Customers	$	260,412	$	255,992
Other	2,589		3,075
Total	263,001		259,067
Less allowance for doubtful accounts	6,961		5,841
Total receivables — net	$	256,040	$	253,226
INVENTORIES
Raw materials and components parts	$	137,584	$	133,470
Work in process	37,178		41,895
Finished goods	62,869		55,602
Total	$	237,631	$	230,967
PROPERTY, PLANT AND EQUIPMENT
Land and improvements	$	31,121	$	32,723
Buildings and improvements	148,749		150,316
Machinery, equipment and other	311,036		300,858
Office and transportation equipment	98,279		95,923
Construction in progress	14,335		9,201
Total	603,520		589,021
Less accumulated depreciation and amortization	383,977		375,533
Total property, plant and equipment — net	$	219,543	$	213,488
ACCRUED EXPENSES
Payroll and related items	$	64,124	$	63,297
Management incentive compensation	21,567		20,949
Income taxes payable	9,305		11,746
Insurance	10,058		7,741
Warranty	7,196		4,888
Deferred revenue	11,813		9,455
Restructuring	6,056		—
Liability for uncertain tax positions	2,084		1,201
Accrued interest	1,738		1,354
Other	29,468		30,120
Total accrued expenses	$	163,409	$	150,751
OTHER NONCURRENT LIABILITIES
Pension and retiree medical obligations	$	90,584	$	67,777
Liability for uncertain tax positions	2,471		4,624
Deferred revenue	4,612		5,578
Other	16,610		15,087
Total other noncurrent liabilities	$	114,277	$	93,066

The following table presents the valuation and qualifying account activity for the years ended December 31, 2014, 2013 and 2012:



	2014			2013			2012
	(In thousands)
ALLOWANCE FOR DOUBTFUL ACCOUNTS ⁽¹⁾
Beginning balance January 1	$	5,841		$	5,596		$	5,860
Charged to costs and expenses, net of recoveries	2,643			2,288			653
Utilization	(1,195		)	(1,921		)	(1,151		)
Currency translation and other	(328		)	(122		)	234
Ending balance December 31	$	6,961		$	5,841		$	5,596


(1)	Includes provision for doubtful accounts, sales returns and sales discounts granted to customers.

Goodwill and Intangible Assets

12 Months Ended

Dec. 31, 2014

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets

The changes in the carrying amount of goodwill for 2014 and 2013, by business segment, were as follows:



	Fluid & Metering Technologies			Health & Science Technologies			Fire & Safety/ Diversified Products			Total
	(In thousands)
Goodwill	$	545,046		$	703,024		$	274,288		$	1,522,358
Accumulated goodwill impairment losses	(20,721		)	(149,820		)	(30,090		)	(200,631		)
Balance at January 1, 2013	524,325			553,204			244,198			1,321,727
Acquisitions (Note 2)	—			17,994			—			17,994
Foreign currency translation	3,719			477			5,539			9,735
Balance at December 31, 2013	528,044			571,675			249,737			1,349,456
Acquisitions (Note 2)	7,711			—			—			7,711
Foreign currency translation	(11,606		)	(8,210		)	(16,074		)	(35,890		)
Balance at December 31, 2014	$	524,149		$	563,465		$	233,663		$	1,321,277

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. Goodwill represents the purchase price in excess of the net amount assigned to assets acquired and liabilities assumed.

Goodwill and other acquired intangible assets with indefinite lives were tested for impairment as of October 31, 2014, the Company's annual impairment date. In assessing the fair value of the reporting units, the Company considers both the market approach and income approach. Under the market approach, the fair value of the reporting unit is based on comparing the reporting unit to comparable publicly traded companies. Under the income approach, the fair value of the reporting unit is based on the present value of estimated future cash flows. The income approach is dependent on a number of significant management assumptions including estimates of operating results, capital expenditures, net working capital requirements, long-term growth rate and discount rates. Weighting was equally attributed to both the market and income approaches (50% each) in arriving at the fair value of the reporting units.

There were no triggering events or changes in circumstances that would have required a review other than as of our annual test date, in 2014 or 2013. Based on the results of our measurement at October 31, 2014, all reporting units had a fair value that was greater than 100% in excess of carrying value, except for our IOP reporting unit, which had a fair value that was greater than 15% in excess of carrying value.

The following table provides the gross carrying value and accumulated amortization for each major class of intangible asset at December 31, 2014 and 2013:



	At December 31, 2014								At December 31, 2013
	Gross Carrying Amount		Accumulated Amortization			Net		Weighted Average Life	Gross Carrying Amount		Accumulated Amortization			Net
			(In thousands)								(In thousands)
Amortizable intangible assets
Patents	$	10,016	$	(5,313	)	$	4,703	11	$	10,673	$	(5,179	)	$	5,494
Trade names	104,118		(32,881		)	71,237		16	104,582		(28,310		)	76,272
Customer relationships	222,486		(126,193		)	96,293		11	242,674		(121,092		)	121,582
Non-compete agreements	840		(636		)	204		3	3,769		(3,272		)	497
Unpatented technology	69,760		(35,165		)	34,595		11	75,528		(32,905		)	42,623
Other	7,034		(5,002		)	2,032		10	6,958		(4,299		)	2,659
Total amortizable intangible assets	414,254		(205,190		)	209,064			444,184		(195,057		)	249,127
Unamortized intangible assets
Banjo trade name	62,100		—			62,100			62,100		—			62,100
Total intangible assets	$	476,354	$	(205,190	)	$	271,164		$	506,284	$	(195,057	)	$	311,227

The unamortized Banjo trade name was determined to be an indefinite lived intangible asset which is tested for impairment on an annual basis in accordance with ASC 350 or more frequently if events or changes in circumstances indicate that the asset might be impaired. The Company uses the relief-from-royalty method, a form of the income approach. The relief-from-royalty method is dependent of a number of significant management assumptions, including estimates of revenues, royalty rates and discount rates.

In 2014 and 2013, there were no triggering events or changes in circumstances that would have required a review other than as of our annual test date. Based on the results of our measurement as of October 31, 2014, the fair value of the Banjo trade name was greater than 40% in excess of carrying value.

Amortization of intangible assets was $43.2 million, $44.3 million and $41.5 million in 2014, 2013 and 2012, respectively. Based on intangible asset balances as of December 31, 2014, amortization expense is expected to approximate $40.4 million in 2015, $38.5 million in 2016, $29.8 million in 2017, $18.9 million in 2018 and $14.9 million in 2019.

- Definition

The entire disclosure for 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 (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.

+ References+ Details

Borrowings

12 Months Ended

Dec. 31, 2014

Debt Disclosure [Abstract]

Borrowings

Borrowings at December 31, 2014 and 2013 consisted of the following:



	2014		2013
	(In thousands)
Revolving Facility	$	115,000	$	10,000
4.2% Senior Notes, due December 2021	349,351		349,272
4.5% Senior Notes, due December 2020	298,975		298,828
2.58% Senior Euro Notes, due June 2015	98,456		111,505
Other borrowings	2,170		4,271
Total borrowings	863,952		773,876
Less current portion	98,946		1,871
Total long-term borrowings	$	765,006	$	772,005

On June 27, 2011 the Company and certain of its subsidiaries entered into a credit agreement (the “Credit Agreement”), as borrowers with Bank of America, N.A., as administrative agent, swing line lender and an issuer of letters of credit, and other lenders party thereto which provided for a new revolving credit facility (the “Revolving Facility”). The Revolving Facility replaced the Company’s previous $600.0 million credit facility, which expired in December 2011.

The Revolving Facility is in an aggregate principal amount of $700.0 million with a maturity date of June 27, 2016. Up to $75.0 million of the Revolving Facility is available for the issuance of letters of credit. Additionally, up to $25.0 million of the Revolving Facility is available to the Company for swing line loans, available on a same-day basis.

Proceeds of the Revolving Facility are available for working capital and other general corporate purposes, including refinancing existing debt of the Company and its subsidiaries. The Company may request increases in the lending commitments under the Credit Agreement, but the aggregate lending commitments may not exceed $950.0 million. The Company has the right, subject to certain conditions set forth in the Credit Agreement, to designate certain foreign subsidiaries of the Company as borrowers under the Credit Agreement. In connection with any such designation, the Company is required to guarantee the obligations of any such subsidiaries under the Credit Agreement. Under the Credit Agreement, Fast & Fluid Management Europe B.V., (“FME”) and IDEX UK Ltd. (“IDEX UK”) were approved by the lenders as designated borrowers. At December 31, 2014, FME and IDEX UK had no borrowings under the Revolving Facility.

Borrowings under the Revolving Facility bear interest, at either an alternate base rate or an adjusted LIBOR rate plus, in each case, an applicable margin. Such applicable margin is based on the Company’s senior, unsecured, long-term debt rating and can range from .875% to 1.70%. Based on the Company’s credit rating at December 31, 2014, the applicable margin was 1.05%. Interest is payable (a) in the case of base rate loans, quarterly, and (b) in the case of LIBOR rate loans, on the maturity date of the borrowing, or quarterly from the effective date for borrowings exceeding three months. An annual Revolving Facility fee, also based on the Company’s credit rating, is currently 20 basis points and is payable quarterly.

The Credit Agreement contains affirmative and negative covenants that the Company believes are usual and customary for senior unsecured credit agreements, including a financial covenant requiring a maximum leverage ratio of a 3.25 to 1.0, which is the ratio of the Company’s consolidated total debt to its consolidated EBITDA, each as defined in the Credit Agreement.

The Credit Agreement also contains customary events of default (subject to grace periods, as appropriate) including among others: nonpayment of principal, interest or fees; breach of the representations or warranties in any material respect; breach of the financial, affirmative or negative covenants; payment default on, or acceleration of, other material indebtedness; bankruptcy or insolvency; material judgments entered against the Company or any of its subsidiaries; certain specified events under the Employee Retirement Income Security Act of 1974, as amended; certain changes in control of the Company; and the invalidity or unenforceability of the Credit Agreement or other documents associated with the Credit Agreement.

At December 31, 2014, $115.0 million was outstanding under the Revolving Facility, with $7.4 million of outstanding letters of credit, resulting in net available borrowing capacity under the Revolving Facility at December 31, 2014 of approximately $577.6 million.

On June 9, 2010 the Company completed a private placement of €81.0 million aggregate principal amount of 2.58% Series 2010 Senior Euro Notes due June 9, 2015 (“2.58% Senior Euro 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, provided that the aggregate principal amount outstanding under the agreement at any time does not exceed $750.0 million. The 2.58% Senior Euro Notes bear interest at a rate of 2.58% per annum, which is payable semi-annually in arrears on each June 9th and December 9th and will mature on June 9, 2015. The 2.58% Senior Euro 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 2.58% Senior Euro Notes; provided that any such portion is greater than 5% of the aggregate principal amount of Notes then outstanding under the Purchase Agreement. In the event of a prepayment, the Company would be required to 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 2.58% Senior Euro Notes will become due and payable immediately without further action or notice. In the case of payment events of defaults, any holder of the 2.58% Senior Euro Notes affected thereby may declare all the 2.58% Senior Euro Notes held by it due and payable immediately. In the case of any other event of default, a majority of the holders of the 2.58% Senior Euro Notes may declare all the 2.58% Senior Euro Notes to be due and payable immediately.

As of December 31, 2014 the Company included the outstanding balance of the 2.58% Senior Euro Notes, $98.5 million, within Current liabilities on the Consolidated Balance Sheet as the maturity date is within twelve months and the Company expects to repay the principal balance using cash on the balance sheet.

On December 6, 2010 the Company completed a public offering of $300.0 million 4.5% senior notes due December 15, 2020 (“4.5% Senior Notes”). The net proceeds from the offering of $295.7 million, after deducting a $1.6 million issuance discount, a $1.9 million underwriting commission and $0.8 million offering expenses, were used to repay $250.0 million of outstanding bank indebtedness, with the balance used for general corporate purposes. The 4.5% Senior Notes bear interest at a rate of 4.5% per annum, which is payable semi-annually in arrears on each June 15th and December 15th. The Company may redeem all or a portion of the 4.5% Senior Notes at any time prior to maturity at the redemption prices set forth in the Note Indenture governing the 4.5% Senior Notes. The Company may issue additional debt from time to time pursuant to the Indenture. The Indenture and 4.5% Senior Notes contain covenants that limit the Company’s ability to, among other things, incur certain liens securing indebtedness, engage in certain sale-leaseback transactions, and enter into certain consolidations, mergers, conveyances, transfers or leases of all or substantially all the Company’s assets. The terms of the 4.5% Senior Notes also require the Company to make an offer to repurchase the 4.5% Senior Notes upon a change of control triggering event (as defined in the Indenture) at a price equal to 101% of their principal amount plus accrued and unpaid interest, if any.

On December 9, 2011 the Company completed a public offering of $350.0 million 4.2% senior notes due December 15, 2021 (“4.2% Senior Notes”). The net proceeds from the offering of $346.2 million, after deducting a $0.9 million issuance discount, a $2.3 million underwriting commission and $0.6 million offering expenses, were used to repay $306.0 million of outstanding bank indebtedness, with the balance used for general corporate purposes. The 4.2% Senior Notes bear interest at a rate of 4.2% per annum, which is payable semi-annually in arrears on each June 15th and December 15th. The Company may redeem all or a portion of the 4.2% Senior Notes at any time prior to maturity at the redemption prices set forth in the Note Indenture governing the 4.2% Senior Notes. The Company may issue additional debt from time to time pursuant to the Indenture. The Indenture and 4.2% Senior Notes contain covenants that limit the Company’s ability to, among other things, incur certain liens securing indebtedness, engage in certain sale-leaseback transactions, and enter into certain consolidations, mergers, conveyances, transfers or leases of all or substantially all the Company’s assets. The terms of the 4.2% Senior Notes also require the Company to make an offer to repurchase the 4.2% Senior Notes upon a change of control triggering event (as defined in the Indenture) at a price equal to 101% of their principal amount plus accrued and unpaid interest, if any.

Other borrowings of $2.2 million at December 31, 2014 consisted primarily of debt at international locations maintained for working capital purposes. Interest is payable on the outstanding debt balances at the international locations at rates ranging from 0.2% to 1.3% per annum.

There are two key financial covenants that the Company is required to maintain in connection with the Revolving Facility and 2.58% Senior Euro Notes. The most restrictive financial covenants under these debt instruments require a minimum interest coverage ratio of 3.0 to 1 and a maximum leverage ratio of 3.25 to 1. At December 31, 2014 the Company was in compliance with both of these financial covenants. There are no financial covenants relating to the 4.5% Senior Notes or 4.2% Senior Notes; however, both are subject to cross-default provisions.

Total borrowings at December 31, 2014 have scheduled maturities as follows:



(In thousands)
2015	$	98,946
2016	115,522
2017	1,056
2018	102
2019	—
Thereafter	648,326
Total borrowings	$	863,952

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

+ References+ Details

Derivative Instruments

12 Months Ended

Dec. 31, 2014

Derivative Instruments and Hedging Activities Disclosure [Abstract]

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 (loss) in shareholders’ equity and reclassified into net income in the same period or periods in which the hedged transaction affects net income. The remaining gain or loss in excess of the cumulative change in the present value of future cash flows or the hedged item, if any, is recognized into net income during the period of change.

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.

On April 15, 2010 the Company entered into a forward starting interest rate contract with a notional amount of $300.0 million with a settlement date in December 2010. This contract was entered into in anticipation of the issuance of the 4.5% Senior Notes and was designed to lock in the market interest rate as of April 15, 2010. In December 2010, the Company settled and paid this interest rate contract for $31.0 million. The $31.0 million is being amortized into interest expense over the 10 year term of the 4.5% Senior Notes, which results in an effective interest rate of 5.8%.

On July 12, 2011 the Company entered into a forward starting interest rate contract with a notional amount of $350.0 million and a settlement date of September 30, 2011. This contract was entered into in anticipation of the issuance of the 4.2% Senior Notes and was designed to lock in the market interest rate as of July 12, 2011. On September 29, 2011, the Company settled this interest rate contract for $34.7 million with a payment made on October 3, 2011. Simultaneously, the Company entered into a separate interest rate contract with a notional amount of $350.0 million and a settlement date of February 28, 2012. The contract was entered into in anticipation of the expected issuance of the 4.2% Senior Notes and was designed to maintain the market rate as of July 12, 2011. In December 2011, the Company settled and paid the September interest rate contract for $4.0 million, resulting in a total settlement of $38.7 million. Of the $38.7 million, $0.8 million was recognized as other expense in 2011 and the balance of $37.9 million is being amortized into interest expense over the 10 year term of the 4.2% Senior Notes, which results in an effective interest rate of 5.3%.

As of December 31, 2014 and 2013 the Company did not have any interest rate or foreign exchange contracts outstanding.

The following table summarizes the gain (loss) recognized and the amounts and location of income (expense) and gain (loss) reclassified into income for interest rate contracts and foreign currency contracts for the years ended December 31, 2014, 2013 and 2012:



	Loss Recognized in Other Comprehensive Income						Income (Expense) and Gain (Loss) Reclassified into Income									Income Statement Caption
	Twelve Months Ended December 31,
	2014		2013		2012		2014			2013			2012
	(In thousands)
Interest rate agreements	$	—	$	—	$	—	$	(7,223	)	$	(7,430	)	$	(7,637	)	Interest expense

Approximately $7.0 million of the pre-tax amount included in accumulated other comprehensive loss in shareholders’ equity at December 31, 2014 will be recognized to net income over the next 12 months as the underlying hedged transactions are realized.

- Definition

The entire disclosure for derivative instruments and hedging activities including, but not limited to, risk management strategies, non-hedging derivative instruments, assets, liabilities, revenue and expenses, and methodologies and assumptions used in determining the amounts.

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+ Details

Fair Value Measurements

12 Months Ended

Dec. 31, 2014

Fair Value Disclosures [Abstract]

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 sheet at December 31, 2014 and 2013:



	Basis of Fair Value Measurements
	Balance at December 31, 2014		Level 1		Level 2		Level 3
	(In thousands)
Money market investments	$	21,094	$	21,094	$	—	$	—
Available for sale securities	4,513		4,513		—		—



	Balance at December 31, 2013		Level 1		Level 2		Level 3
	(In thousands)
Money market investments	$	27,871	$	27,871	$	—	$	—
Available for sale securities	3,255		3,255		—		—

There were no transfers of assets or liabilities between Level 1 and Level 2 in 2014 or 2013.

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 December 31, 2014, the fair value of our Revolving Facility, 2.58% Senior Euro Notes, 4.5% Senior Notes and 4.2% Senior Notes, based on quoted market prices and current market rates for debt with similar credit risk and maturity, was approximately $898.7 million compared to the carrying value of $861.8 million. This fair value measurement is classified as Level 2 within the fair value hierarchy since it is determined based upon significant inputs observable in the market, including interest rates on recent financing transactions to entities with a credit rating similar to ours.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial 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 entity 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 risks 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

Commitments and Contingencies

12 Months Ended

Dec. 31, 2014

Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingencies

The Company leases certain office facilities, warehouses and data processing equipment under operating leases. Rental expense totaled $19.2 million, $18.9 million and $18.4 million in 2014, 2013 and 2012, respectively.

The aggregate future minimum lease payments for operating and capital leases as of December 31, 2014 were as follows:



	Operating		Capital
	(In thousands)
2015	$	16,206	$	499
2016	11,534		536
2017	8,168		1,058
2018	6,100		102
2019	3,481		—
2020 and thereafter	7,005		—
	$	52,494	$	2,195

Warranty costs are provided for at the time of sale. The warranty provision is based on historical costs and adjusted for specific known claims. A rollforward of the warranty reserve is as follows:



	2014			2013			2012
	(In thousands)
Beginning balance January 1	$	4,888		$	4,875		$	4,417
Provision for warranties	6,220			3,845			5,398
Claim settlements	(3,823		)	(3,865		)	(5,214		)
Other adjustments, including acquisitions and currency translation	(89		)	33			274
Ending balance December 31	$	7,196		$	4,888		$	4,875

The Company is party to various legal proceedings arising in the ordinary course of business, none of which are expected to have a material effect on its business, financial condition, results of operations or cash flow.

- Definition

The entire disclosure for commitments and contingencies.

+ References+ Details

Income Taxes

12 Months Ended

Dec. 31, 2014

Income Tax Disclosure [Abstract]

Income Taxes

Pretax income for 2014, 2013 and 2012 was taxed in the following jurisdictions:



	2014		2013		2012
	(In thousands)
Domestic	$	275,334	$	233,530	$	65,738
Foreign	117,106		119,599		20,466
Total	$	392,440	$	353,129	$	86,204

The provision (benefit) for income taxes for 2014, 2013 and 2012, was as follows:



	2014			2013			2012
	(In thousands)
Current
U.S.	$	77,454		$	59,707		$	59,811
State and local	7,133			8,123			5,764
Foreign	37,060			33,240			20,228
Total current	121,647			101,070			85,803
Deferred
U.S.	(3,176		)	1,500			(31,246		)
State and local	(1,708		)	(55		)	(2,377		)
Foreign	(3,709		)	(4,601		)	(3,606		)
Total deferred	(8,593		)	(3,156		)	(37,229		)
Total provision for income taxes	$	113,054		$	97,914		$	48,574

Deferred tax assets (liabilities) at December 31, 2014 and 2013 were:



	2014			2013
	(In thousands)
Employee and retiree benefit plans	$	38,871		$	27,361
Depreciation and amortization	(172,766		)	(175,894		)
Inventories	11,229			9,627
Allowances and accruals	14,552			9,632
Interest rate exchange agreement	15,448			18,165
Other	4,626			4,636
Total	$	(88,040	)	$	(106,473	)

The deferred tax assets and liabilities recognized in the Company’s Consolidated Balance Sheets as of December 31, 2014 and 2013 were:



	2014			2013
	(In thousands)
Deferred tax asset — other current assets	$	39,305		$	34,151
Deferred tax asset — other noncurrent assets	3,080			4,284
Total deferred tax assets	42,385			38,435
Deferred tax liability — accrued expenses	(57		)	—
Noncurrent deferred tax liability — deferred income taxes	(130,368		)	(144,908		)
Total deferred tax liabilities	(130,425		)	(144,908		)
Net deferred tax liabilities	$	(88,040	)	$	(106,473	)

The provision for income taxes differs from the amount computed by applying the statutory federal income tax rate to pretax income. The computed amount and the differences for 2014, 2013 and 2012 are shown in the following table:



	2014			2013			2012
	(In thousands)
Pretax income	$	392,440		$	353,129		$	86,204
Provision for income taxes
Computed amount at statutory rate of 35%	$	137,354		$	123,595		$	30,171
State and local income tax (net of federal tax benefit)	4,875			4,382			2,406
Taxes on non-U.S. earnings-net of foreign tax credits	(9,378		)	(9,683		)	1,189
Effect of flow-through entities	(9,018		)	(7,267		)	(7,846		)
Goodwill and intangible asset impairments	—			—			28,524
U.S. business tax credits	(1,680		)	(1,516		)	—
Domestic activities production deduction	(7,489		)	(6,217		)	(5,267		)
Other	(1,610		)	(5,380		)	(603		)
Total provision for income taxes	$	113,054		$	97,914		$	48,574

The Company has $683 million and $597 million of undistributed earnings of non-U.S. subsidiaries as of December 31, 2014 and 2013, respectively. No deferred U.S. income taxes have been provided on these earnings as they are considered to be reinvested for an indefinite period of time or will be repatriated when it is tax effective to do so. If these amounts were distributed to the U.S., in the form of dividends or otherwise, the Company would be subject to additional U.S. income taxes, which could be material. Determination of the amount of unrecognized deferred income tax liabilities on these earnings is not practicable because of the complexities with the hypothetical calculation, and the amount of liability, if any, is dependent on circumstances if and when remittance occurs. During the years ended December 31, 2014 and 2013, the Company repatriated $6.5 million and $11.7 million of foreign earnings, respectively, resulting in $0.2 million of incremental tax benefit and $0.9 million of incremental income tax expense, respectively. The Company did not repatriate any foreign earnings during the year ended December 31, 2012. These repatriations in 2013 and 2014 represent distributions of current year earnings and distributions from liquidating subsidiaries and do not impact our representation that the undistributed earnings are permanently invested.

A reconciliation of the beginning and ending amount of unrecognized tax benefits for 2014, 2013 and 2012 is shown in the following table:



	2014			2013			2012
	(In thousands)
Beginning balance January 1	$	5,124		$	6,506		$	5,548
Gross increases for tax positions of prior years	834			1,357			3,017
Gross decreases for tax positions of prior years	(51		)	(99		)	(98		)
Settlements	(2,057		)	(1,219		)	—
Lapse of statute of limitations	(231		)	(1,421		)	(1,961		)
Ending balance December 31	$	3,619		$	5,124		$	6,506

We recognize interest and penalties related to uncertain tax positions in income tax expense. As of December 31, 2014, 2013 and 2012, we had approximately $0.7 million, $0.5 million and $0.7 million, respectively, of accrued interest related to uncertain tax positions. As of December 31, 2014, 2013 and 2012, we had approximately $0.3 million, $0.2 million and $0.5 million, respectively, of accrued penalties related to uncertain tax positions.

The total amount of unrecognized tax benefits that would affect our effective tax rate if recognized is $2.9 million, $4.5 million and $5.8 million as of December 31, 2014, 2013 and 2012, respectively. The tax years 2008-2013 remain open to examination by major taxing 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 12 months by a range of zero to $2.1 million.

The Company had net operating loss carry forwards related to prior acquisitions for U.S. federal purposes at December 31, 2014 and 2013 of $7.1 and $9.4 million, respectively. For non-U.S. purposes the Company had net operating loss carry forwards at December 31, 2014 and 2013 of $5.0 and $7.0 million, respectively. The federal net operating loss carry forwards are available for use against the Company’s consolidated federal taxable income and expire between 2018 and 2031. The entire balance of the non-U.S. net operating losses is available to be carried forward, with $1.9 million of these losses beginning to expire during the year 2021. The remaining $2.2 million of such losses can be carried forward indefinitely.

At both December 31, 2014 and 2013, the Company had a foreign capital loss carry forward of approximately $1.0 million. The foreign capital loss can be carried forward indefinitely. At both December 31, 2014 and 2013 the Company has a valuation allowance against the deferred tax asset attributable to the foreign capital loss of $0.2 million. At December 31, 2014 and 2013 the Company had state net operating loss and credit carry forwards of approximately $23.7 million and $22.4 million, respectively. If unutilized, the state net operating loss will expire between 2022 and 2034. At December 31, 2014 and 2013 the Company recorded a valuation allowance against the deferred tax asset attributable to the state net operating loss of $0.8 million and $0.7 million, respectively.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References+ Details

Business Segments and Geographic Information

12 Months Ended

Dec. 31, 2014

Segment Reporting [Abstract]

Business Segments and Geographic Information

IDEX has three reportable business segments: Fluid & Metering Technologies, Health & Science Technologies and Fire & Safety/Diversified Products.

The Fluid & Metering Technologies segment designs, produces and distributes positive displacement pumps, flow meters, injectors, and other fluid-handling pump modules and systems and provides flow monitoring and other services for the food, chemical, general industrial, water and wastewater, agricultural and energy industries. The Health & Science Technologies segment designs, produces and distributes a wide range of precision fluidics, rotary lobe pumps, centrifugal and positive displacement pumps, roll compaction and drying systems used in beverage, food processing, pharmaceutical and cosmetics, pneumatic components and sealing solutions, including very high precision, low-flow rate pumping solutions required in analytical instrumentation, clinical diagnostics and drug discovery, high performance molded and extruded, biocompatible medical devices and implantables, air compressors used in medical, dental and industrial applications, optical components and coatings for applications in the fields of scientific research, defense, biotechnology, aerospace, telecommunications and electronics manufacturing, laboratory and commercial equipment used in the production of micro and nano scale materials, precision photonic solutions used in life sciences, research and defense markets, and precision gear and peristaltic pump technologies that meet exacting original equipment manufacturer specifications. The Fire & Safety/Diversified Products segment produces firefighting pumps and controls, rescue tools, lifting bags and other components and systems for the fire and rescue industry, engineered stainless steel banding and clamping devices used in a variety of industrial and commercial applications, and precision equipment for dispensing, metering and mixing colorants and paints used in a variety of retail and commercial businesses around the world.

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



	2014			2013			2012
	(In thousands)
NET SALES
Fluid & Metering Technologies
External customers	$	898,530		$	870,720		$	829,320
Intersegment sales	1,058			1,094			3,968
	899,588			871,814			833,288
Health & Science Technologies
External customers	747,186			708,940			689,574
Intersegment sales	4,835			5,710			5,661
Total segment sales	752,021			714,650			695,235
Fire & Safety/Diversified Products
External customers	502,051			444,470			435,364
Intersegment sales	698			579			1,689
Total segment sales	502,749			445,049			437,053
Intersegment eliminations	(6,591		)	(7,383		)	(11,318		)
Total net sales	$	2,147,767		$	2,024,130		$	1,954,258
OPERATING INCOME (LOSS) ⁽¹⁾
Fluid & Metering Technologies ⁽²⁾	$	216,886		$	211,256		$	146,650
Health & Science Technologies ⁽²⁾	152,999			136,707			(62,835		)
Fire & Safety/Diversified Products	130,494			102,730			96,120
Corporate office	(69,155		)	(55,180		)	(51,717		)
Total operating income	431,224			395,513			128,218
Interest expense	41,895			42,206			42,250
Other (income) expense - net	(3,111		)	178			(236		)
Income before taxes	$	392,440		$	353,129		$	86,204



	2014		2013		2012
	(In thousands)
ASSETS
Fluid & Metering Technologies	$	1,026,238	$	1,025,352	$	1,023,143
Health & Science Technologies	1,101,155		1,113,546		1,102,868
Fire & Safety/Diversified Products	510,841		484,139		488,886
Corporate office	269,836		264,540		170,493
Total assets	$	2,908,070	$	2,887,577	$	2,785,390
DEPRECIATION AND AMORTIZATION ⁽³⁾
Fluid & Metering Technologies	$	26,453	$	27,633	$	29,637
Health & Science Technologies	42,478		43,496		39,981
Fire & Safety/Diversified Products	6,583		6,852		7,107
Corporate office and other	1,393		1,353		1,587
Total depreciation and amortization	$	76,907	$	79,334	$	78,312
CAPITAL EXPENDITURES
Fluid & Metering Technologies	$	18,215	$	11,581	$	13,535
Health & Science Technologies	19,161		12,280		13,140
Fire & Safety/Diversified Products	6,761		5,040		6,654
Corporate office and other	3,860		2,635		2,191
Total capital expenditures	$	47,997	$	31,536	$	35,520


(1)	Segment operating income (loss) excludes net unallocated corporate operating expenses.


(2)	Segment operating income (loss) includes asset impairment charges in 2012 of $27.7 million within the Fluid & Metering Technologies segment and $170.8 million within the Health & Science Technologies segment.


(3)	Excludes amortization of debt issuance expenses.

Information about the Company’s operations in different geographical regions for the years ended December 31, 2014, 2013 and 2012 is shown below. Net sales were attributed to geographic areas based on location of the customer and no country outside the U.S. was greater than 10% of total revenues.



	2014		2013		2012
	(In thousands)
NET SALES
U.S.	$	1,068,758	$	983,791	$	963,137
North America, excluding U.S.	95,917		88,213		93,010
Europe	527,975		521,491		479,744
Asia	337,668		306,466		305,185
Other	117,449		124,169		113,182
Total net sales	$	2,147,767	$	2,024,130	$	1,954,258
LONG-LIVED ASSETS — PROPERTY, PLANT AND EQUIPMENT
U.S.	$	139,702	$	124,880	$	127,425
North America, excluding U.S.	814		901		1,239
Europe	54,088		63,018		64,137
Asia	24,912		24,590		26,320
Other	27		99		40
Total long-lived assets — net	$	219,543	$	213,488	$	219,161

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

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+ Details

Restructuring

12 Months Ended

Dec. 31, 2014

Restructuring and Related Activities [Abstract]

Restructuring

During 2014 and 2012 the Company recorded restructuring costs as a part of restructuring initiatives that support the implementation of key strategic efforts designed to facilitate long-term, sustainable, growth through cost reduction actions, primarily consisting of employee reductions and facility rationalization. The costs incurred related to these initiatives are included in Restructuring expenses in the Consolidated Statements of Operations while the related accruals are included in Accrued expenses in the Consolidated Balance Sheets. Severance costs primarily consist of severance benefits through payroll continuation, COBRA subsidies, outplacement services, conditional separation costs and employer tax liabilities, while exit costs primarily consist of asset disposals or impairments and lease exit costs.

2014 Initiative

During 2014 the Company recorded pre-tax restructuring expenses in the fourth quarter totaling $13.7 million related to the 2014 restructuring initiative. These expenses consisted of employee severance related to employee reductions across various functional areas as well as exit costs and asset impairments. The 2014 restructuring initiative included severance benefits for 217 employees. Severance payments are expected to be fully paid by the end of 2015 using cash from operations.

Pre-tax restructuring expenses by segment for 2014 were as follows:



	Severance Costs		Exit Costs and Asset Impairments		Total
	(In thousands)
Fluid & Metering Technologies	$	6,413	$	—	$	6,413
Health & Science Technologies	3,520		1,392		4,912
Fire & Safety/Diversified Products	908		126		1,034
Corporate/Other	1,313		—		1,313
Total restructuring costs	$	12,154	$	1,518	$	13,672

2011 Initiative

During 2012 the Company recorded pre-tax restructuring expenses totaling $32.5 million related to the 2011 restructuring initiative. These expenses consisted of exit costs and employee severance related to employee reductions across various functional areas as well as facility rationalization. The 2011 restructuring initiative included severance benefits for 491 employees in 2012. The 2011 initiative was completed by the end of 2012 and severance payments were fully paid in 2013 using cash from operations.

Pre-tax restructuring expenses by segment, for 2012, were as follows:



	Severance Costs		Exit Costs		Total
	(In thousands)
Fluid & Metering Technologies	$	6,226	$	36	$	6,262
Health & Science Technologies	11,223		3,521		14,744
Fire & Safety/Diversified Products	3,226		5,114		8,340
Corporate/Other	2,844		283		3,127
Total restructuring costs	$	23,519	$	8,954	$	32,473

Restructuring accruals of $6.1 million and zero at December 31, 2014 and 2013, respectively, are reflected in Accrued expenses in our Consolidated Balance Sheets as follows:



	Restructuring Initiatives
	(In thousands)
Balance at January 1, 2013	$	10,887
Restructuring expenses	—
Payments, utilization and other	(10,887		)
Balance at December 31, 2013	—
Restructuring expenses	13,672
Payments, utilization and other	(7,616		)
Balance at December 31, 2014	$	6,056

- Definition

The entire disclosure for restructuring and related activities. Description of restructuring activities such as exit and disposal activities, include facts and circumstances leading to the plan, the expected plan completion date, the major types of costs associated with the plan activities, total expected costs, the accrual balance at the end of the period, and the periods over which the remaining accrual will be settled.

+ References+ Details

Share-Based Compensation

12 Months Ended

Dec. 31, 2014

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Share-Based Compensation

The Company maintains two share-based compensation plans for executives, non-employee directors and certain key employees that authorize the granting of stock options, unvested shares, unvested share units, and other types of awards consistent with the purpose of the plans. The number of shares authorized for issuance under the Company’s plans as of December 31, 2014 totals 10.6 million, of which 2.3 million shares were available for future issuance. Stock options granted under these plans are generally non-qualified and are granted with an exercise price equal to the market price of the Company’s stock at the date of grant. The majority of the options issued to employees become exercisable in four equal installments, beginning one year from the date of grant, and generally expire 10 years from the date of grant. Stock options granted to non-employee directors cliff vest after one year. Unvested share and unvested share unit awards generally cliff vest after three years for employees and non-employee directors. The Company issued 0.1 million, 0.2 million and 0.2 million of unvested shares as compensation to key employees in 2014, 2013 and 2012, respectively.

All unvested shares carry dividend and voting rights and the sale of the shares is restricted prior to the date of vesting.

Beginning in 2013 the Company granted performance share units to selected key employees that may be earned based on IDEX total shareholder return over the three-year period following the date of grant. Performance share units (referred to as “TSR awards”) are expected to be made annually and are paid out at the end of a three-year period based on the Company’s performance. Performance is measured by determining the percentile rank of the total shareholder return of IDEX common stock in relation to the total shareholder return of the S&P Midcap 400 Industrial Group for the three-year period following the date of grant. The payment of awards following the three-year award period will be based on performance achieved in accordance with the scale set forth in the plan agreement and may range from 0 percent to 250 percent of the initial grant. A target payout of 100 percent is earned if total shareholder return is equal to the 50^th percentile of the S&P Midcap 400 Industrial Group. Performance share units earn dividend equivalents for the award period, which will be paid to participants with the award payout at the end of the period based on the actual number of performance share units that are earned. Payments made at the end of the award period will be in the form of stock for performance share units and will be in cash for dividend equivalents. The Company granted approximately 0.1 million performance share units in both 2014 and 2013.

The Company expenses the fair value of awards made under its share-based plans. That cost is recognized in the consolidated financial statements over the requisite service period of the grants.

Weighted average option fair values and assumptions for the period specified are disclosed in the following table:



	Years Ended December 31,
	2014	2013	2012
Weighted average fair value of grants	$19.52	$12.97	$11.40
Dividend yield	1.27%	1.57%	1.59%
Volatility	30.36%	30.92%	32.00%
Risk-free interest rate	0.12% - 4.65%	0.17% - 4.12%	0.17% - 3.96%
Expected life (in years)	5.89	5.86	5.98

The assumptions are as follows:


•	The Company estimated volatility using its historical share price performance over the contractual term of the option.


•	The Company uses historical data to estimate the expected life of the option. The expected life assumption for the years ended December 31, 2014, 2013 and 2012 is an output of the Binomial lattice option-pricing model, which incorporates vesting provisions, rate of voluntary exercise and rate of post-vesting termination over the contractual life of the option to define expected employee behavior.


•	The risk-free interest rate is based on the U.S. Treasury yield curve in effect at the time of grant for periods within the contractual life of the option. For the years ended December 31, 2014, 2013 and 2012, we present the range of risk-free one-year forward rates, derived from the U.S. treasury yield curve, utilized in the Binomial lattice option-pricing model.


•	The expected dividend yield is based on the Company’s current dividend yield as the best estimate of projected dividend yield for periods within the contractual life of the option.

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.

Weighted average performance share unit fair values and assumptions for the period specified are disclosed in the following table:



	Years Ended December 31,
	2014	2013
Weighted average fair value of grants	$94.55	$59.58
Dividend yield	—%	—%
Volatility	26.41%	28.99%
Risk-free interest rate	0.65%	0.40%
Expected life (in years)	2.88	2.87

The assumptions are as follows:


•	The Company estimated volatility using its historical share price performance over the remaining performance period as of the grant date.


•	Since Monte Carlo valuation is an open form model that uses an expected life commensurate with the performance period, the expected life of the performance share units was assumed to be the period from the grant date to the end of the performance period.


•	The risk-free interest rate is based on the U.S. Treasury yield curve in effect at the time of grant with a term commensurate with the remaining performance period.


•	Total Shareholder Return is determined assuming that dividends are reinvested in the issuing entity over the performance period, which is mathematically equivalent to utilizing a 0% dividend yield.

Total compensation cost for stock options is as follows:



	Years Ended December 31,
	2014			2013			2012
	(In thousands)
Cost of goods sold	$	581		$	479		$	650
Selling, general and administrative expenses	6,245			5,789			5,642
Total expense before income taxes	6,826			6,268			6,292
Income tax benefit	(2,194		)	(2,016		)	(1,988		)
Total expense after income taxes	$	4,632		$	4,252		$	4,304

Total compensation cost for unvested shares is as follows:



	Years Ended December 31,
	2014			2013			2012
	(In thousands)
Cost of goods sold	$	1,753		$	1,380		$	991
Selling, general and administrative expenses	8,917			8,471			5,819
Total expense before income taxes	10,670			9,851			6,810
Income tax benefit	(2,233		)	(2,296		)	(1,682		)
Total expense after income taxes	$	8,437		$	7,555		$	5,128

Total compensation cost for performance share units is as follows:



	Years Ended December 31,
	2014			2013
	(In thousands)
Cost of goods sold	$	—		$	—
Selling, general and administrative expenses	3,220			873
Total expense before income taxes	3,220			873
Income tax benefit	(1,081		)	(280		)
Total expense after income taxes	$	2,139		$	593

Recognition of compensation cost was consistent with recognition of cash compensation for the same employees.

As of December 31, 2014 there was $9.9 million, $9.4 million and $5.4 million of total unrecognized compensation cost related to stock options, time based shares and performance shares, respectively, that is expected to be recognized over a weighted-average period of 1.4 years, 1.0 year and 1.0 year, respectively.

A summary of the Company’s stock option activity as of December 31, 2014, and changes during the year ended December 31, 2014 is presented in the following table:



Stock Options	Shares		Weighted Average Price		Weighted-Average Remaining Contractual Term	Aggregate Intrinsic Value
Outstanding at January 1, 2014	2,516,618		$	39.60	6.87	$	86,200,655
Granted	514,905		72.77
Exercised	(489,047	)	34.59
Forfeited	(163,917	)	52.59
Outstanding at December 31, 2014	2,378,559		$	46.91	6.69	$	73,561,785
Vested and expected to vest at December 31, 2014	2,279,445		$	46.24	6.60	$	72,026,247
Exercisable at December 31, 2014	1,157,805		$	36.70	5.17	$	47,631,234

The intrinsic value for stock options outstanding and exercisable is defined as the difference between the market value of the Company’s common stock as of the end of the period and the grant price. The total intrinsic value of options exercised in 2014, 2013 and 2012, was $20.0 million, $34.3 million and $23.5 million, respectively. In 2014, 2013 and 2012, cash received from options exercised was $17.2 million, $35.3 million and $45.8 million, respectively, while the actual tax benefit realized for the tax deductions from stock options exercised totaled $7.3 million, $12.5 million and $8.6 million, respectively.

A summary of the Company’s unvested share activity as of December 31, 2014, and changes during the year ending December 31, 2014 is presented in the following table:



Unvested Shares	Shares		Weighted-Average Grant Date Fair Value
Unvested at January 1, 2014	618,679		$	50.33
Granted	146,360		74.10
Vested	(215,576	)	45.10
Forfeited	(70,799	)	57.83
Unvested at December 31, 2014	478,664		$	59.71

Unvested share grants accrue dividends 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 performance share unit activity as of December 31, 2014, and changes during the year ending December 31, 2014 is presented in the following table:



Performance Share Units	Shares		Weighted-Average Grant Date Fair Value
Unvested at January 1, 2014	53,205		$	59.98
Granted	91,030		94.55
Vested	—		—
Forfeited	(8,695	)	78.26
Unvested at December 31, 2014	135,540		$	81.87

The Company also maintains a cash-settled share based compensation plan for certain employees. Total expense related to this plan, included in the unvested shares table above, was $4.1 million, $3.6 million and $2.3 million in 2014, 2013 and 2012, respectively. At December 31, 2014 and 2013, the Company has $3.5 million and $2.0 million, respectively, included in Accrued expenses in the Consolidated Balance Sheets and $2.5 million and $1.0 million, respectively, included in Other non-current liabilities.

- Definition

The entire disclosure for compensation-related costs for equity-based compensation, which may include disclosure of policies, compensation plan details, allocation of equity compensation, incentive distributions, equity-based arrangements to obtain goods and services, deferred compensation arrangements, employee stock ownership plan details and employee stock purchase plan details.

+ References+ Details

Other Comprehensive Income (Loss)

12 Months Ended

Dec. 31, 2014

Equity [Abstract]

Other Comprehensive Income (Loss)

The components of Other comprehensive income (loss) are as follows:



	For the Year Ended December 31, 2014									For the Year Ended December 31, 2013
	Pre-tax			Tax			Net of tax			Pre-tax		Tax			Net of tax
	(In thousands)
Cumulative translation adjustment	$	(77,024	)	$	—		$	(77,024	)	$	13,572	$	—		$	13,572
Pension and other postretirement adjustments
Net gain (loss) arising during the year	(26,424		)	7,767			(18,657		)	26,274		(9,859		)	16,415
Amortization/settlement recognition of net loss (gain)	3,113			(915		)	2,198			8,599		(3,226		)	5,373
Pension and other postretirement adjustments, net	(23,311		)	6,852			(16,459		)	34,873		(13,085		)	21,788
Reclassification adjustments for derivatives	7,223			(2,713		)	4,510			7,430		(2,692		)	4,738
Total other comprehensive income (loss)	$	(93,112	)	$	4,139		$	(88,973	)	$	55,875	$	(15,777	)	$	40,098



	For the Year Ended December 31, 2012
	Pre-tax			Tax			Net of tax
	(In thousands)
Cumulative translation adjustment	$	14,445		$	—		$	14,445
Pension and other postretirement adjustments
Net gain (loss) arising during the year	(16,607		)	3,107			(13,500		)
Amortization or settlement recognition of net loss (gain)	7,801			(1,460		)	6,341
Pension and other postretirement adjustments, net	(8,806		)	1,647			(7,159		)
Reclassification adjustments for derivatives	7,571			(2,791		)	4,780
Total other comprehensive income (loss)	$	13,210		$	(1,144	)	$	12,066

Amounts reclassified from accumulated other comprehensive income (loss) to net income are summarized as follows:



	For the Years Ended December 31,
	2014			2013			2012			Income Statement Caption
Pension and other postretirement plans:
Amortization of service cost	$	3,113		$	8,599		$	7,801		Selling, general and administrative expense
Total before tax	3,113			8,599			7,801
Provision for income taxes	(915		)	(3,226		)	(1,460		)
Total net of tax	$	2,198		$	5,373		$	6,341
Derivatives:
Reclassification adjustments	$	7,223		$	7,430		$	7,571		Interest expense
Total before tax	7,223			7,430			7,571
Provision for income taxes	(2,713		)	(2,692		)	(2,791		)
Total net of tax	$	4,510		$	4,738		$	4,780

- Definition

The entire disclosure for comprehensive income, which includes, but is not limited to, 1) the amount of income tax expense or benefit allocated to each component of other comprehensive income, including reclassification adjustments, 2) the reclassification adjustments for each classification of other comprehensive income and 3) the ending accumulated balances for each component of comprehensive income.

+ References

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

-Publisher FASB

-Name Accounting Standards Codification

-Topic 220

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-Topic 505

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-Paragraph 1

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+ Details

Retirement Benefits

12 Months Ended

Dec. 31, 2014

Compensation and Retirement Disclosure [Abstract]

Retirement Benefits

The Company sponsors several qualified and nonqualified pension plans and other postretirement plans for its employees. The Company uses a measurement date of December 31 for its defined benefit pension plans and post retirement medical plans. The Company employs the measurement date provisions of ASC 715, “Compensation-Retirement Benefits”, which require the measurement date of plan assets and liabilities to coincide with the sponsor’s year end.

The following table provides a reconciliation of the changes in the benefit obligations and fair value of plan assets over the two-year period ended December 31, 2014, and a statement of the funded status at December 31 for both years.



	Pension Benefits												Other Benefits
	2014						2013						2014			2013
	U.S.			Non-U.S.			U.S.			Non-U.S.
	(In thousands)
CHANGE IN BENEFIT OBLIGATION
Obligation at January 1	$	92,839		$	60,471		$	111,188		$	56,555		$	21,354		$	25,587
Service cost	1,162			1,331			1,526			1,388			714			968
Interest cost	4,037			2,345			3,766			2,146			932			906
Plan amendments	—			(150		)	—			—			—			—
Benefits paid	(6,230		)	(2,955		)	(2,479		)	(1,957		)	(691		)	(801		)
Actuarial loss (gain)	10,540			15,092			(11,885		)	581			728			(5,139		)
Currency translation	—			(6,646		)	—			1,758			(182		)	(167		)
Curtailments/settlements	(36		)	—			(9,277		)	—			—			—
Acquisition	—			—			—			—			—			—
Obligation at December 31	$	102,312		$	69,488		$	92,839		$	60,471		$	22,855		$	21,354
CHANGE IN PLAN ASSETS
Fair value of plan assets at January 1	$	81,957		$	22,334		$	74,578		$	19,660		$	—		$	—
Actual return on plan assets	2,385			1,738			14,303			2,341			—			—
Employer contributions	1,611			2,424			4,832			1,840			691			801
Benefits paid	(6,230		)	(2,955		)	(2,479		)	(1,957		)	(691		)	(801		)
Currency translation	—			(1,389		)	—			447			—			—
Settlements	(36		)	—			(9,277		)	3			—			—
Other	—			—			—			—			—			—
Fair value of plan assets at December 31	$	79,687		$	22,152		$	81,957		$	22,334		$	—		$	—
Funded status at December 31	$	(22,625	)	$	(47,336	)	$	(10,882	)	$	(38,138	)	$	(22,855	)	$	(21,354	)
COMPONENTS ON THE CONSOLIDATED BALANCE SHEETS
Current liabilities	$	(522	)	$	(805	)	$	(656	)	$	(995	)	$	(905	)	$	(946	)
Other noncurrent liabilities	(22,103		)	(46,531		)	(10,226		)	(37,143		)	(21,950		)	(20,408		)
Net liability at December 31	$	(22,625	)	$	(47,336	)	$	(10,882	)	$	(38,138	)	$	(22,855	)	$	(21,354	)

The accumulated benefit obligation (ABO) for all defined benefit pension plans was $163.3 million and $143.5 million at December 31, 2014 and 2013, respectively.

The weighted average assumptions used in the measurement of the Company’s benefit obligation at December 31, 2014 and 2013 were as follows:



	U.S. Plans				Non-U.S. Plans
	2014		2013		2014		2013
Discount rate	3.78	%	4.61	%	2.66	%	4.03	%
Rate of compensation increase	4.00	%	4.00	%	3.00	%	3.14	%

The pretax amounts recognized in Accumulated other comprehensive income (loss) as of December 31, 2014 and 2013 were as follows:



	Pension Benefits									Other Benefits
	2014					2013				2014			2013
	U.S.		Non-U.S.			U.S.		Non-U.S
	(In thousands)
Prior service cost (credit)	$	86	$	(40	)	$	170	$	312	$	(1,580	)	$	(1,951	)
Net loss	34,337		25,275			22,854		14,262		655			(225		)
Total	$	34,423	$	25,235		$	23,024	$	14,574	$	(925	)	$	(2,176	)

The amounts in Accumulated other comprehensive income (loss) as of December 31, 2014, that are expected to be recognized as components of net periodic benefit cost during 2015 are as follows:



	U.S. Pension Benefit Plans		Non-U.S. Pension Benefit Plans			Other Benefit Plans			Total
	(In thousands)
Prior service cost (credit)	$	51	$	(14	)	$	(366	)	$	(329	)
Net loss	3,130		1,904			(50		)	4,984
Total	$	3,181	$	1,890		$	(416	)	$	4,655

The following tables provide the components of, and the weighted average assumptions used to determine, the net periodic benefit cost for the plans in 2014, 2013 and 2012:



	Pension Benefits
	2014						2013						2012
	U.S.			Non-U.S.			U.S.			Non-U.S.			U.S.			Non-U.S.
	(In thousands)
Service cost	$	1,162		$	1,331		$	1,526		$	1,388		$	1,756		$	1,300
Interest cost	4,037			2,345			3,766			2,146			4,247			2,206
Expected return on plan assets	(5,430		)	(1,297		)	(5,318		)	(1,055		)	(4,687		)	(1,035		)
Net amortization	2,187			1,400			7,621			955			5,376			589
Net periodic benefit cost	$	1,956		$	3,779		$	7,595		$	3,434		$	6,692		$	3,060



	Other Benefits
	2014			2013		2012
	(In thousands)
Service cost	$	714		$	968	$	763
Interest cost	932			906		922
Net amortization	(474		)	24		11
Net periodic benefit cost	$	1,172		$	1,898	$	1,696



	U.S. Plans						Non-U.S. Plans
	2014		2013		2012		2014		2013		2012
Discount rate	4.61	%	3.56	%	4.45	%	4.03	%	3.91	%	4.68	%
Expected return on plan assets	7.00	%	7.50	%	8.00	%	5.83	%	5.53	%	5.90	%
Rate of compensation increase	4.00	%	3.94	%	3.90	%	3.14	%	2.99	%	2.96	%

The following table provides the pretax change recognized in Accumulated other comprehensive income (loss) in 2014:



	Pension Benefits
	U.S.			Non-U.S.			Other Benefits
	(In thousands)
Net loss in current year	$	(13,585	)	$	(14,650	)	$	(730	)
Prior service cost	—			150			—
Amortization of prior service cost (credit)	84			188			(371		)
Amortization of net loss	2,102			1,212			(103		)
Exchange rate effect on amounts in OCI	—			2,439			(47		)
Total	$	(11,399	)	$	(10,661	)	$	(1,251	)

The discount rates for our plans are derived by matching the plan’s cash flows to a yield curve that provides the equivalent yields on zero-coupon bonds for each maturity. The discount rate selected is the rate that produces the same present value of cash flows.

In selecting the expected rate of return on plan assets, the Company considers the historical returns and expected returns on plan assets. The expected returns are evaluated using asset return class, variance and correlation assumptions based on the plan’s target asset allocation and current market conditions.

Mortality assumptions are used to estimate life expectancies of plan participants. In October 2014, the Society of Actuaries ("SOA") issued updated mortality tables (RP-2014) and a mortality improvement scale (MP-2014), which reflects longer life expectancies than previously projected. In consideration of this information, we studied our historical mortality experience and developed an expectation for continued future mortality improvements. Based on this data and the RP-2014 tables, we updated the mortality assumptions used in calculating our pension and post-retirement benefit obligations recognized at December 31, 2014, and the amounts estimated for our 2015 expense. Our updated mortality assumptions resulted in an increase of $4.9 million in our pension and post-retirement benefit obligations as of December 31, 2014.

Prior service costs are amortized on a straight-line basis over the average remaining service period of active participants. Gains and losses in excess of 10% of the greater of the benefit obligation or the market value of assets are amortized over the average remaining service period of active participants.

Costs of defined contribution plans were $9.1 million, $8.4 million and $7.9 million for 2014, 2013 and 2012, respectively.

The Company, through its subsidiaries, participates in certain multi-employer pension plans covering approximately 395 participants under U.S. collective bargaining agreements. None of these plans are considered individually significant to the Company as contributions to these plans totaled $1.0 million, $1.1 million, and $1.0 million for 2014, 2013 and 2012, respectively.

For measurement purposes, a 7.12% weighted average annual rate of increase in the per capita cost of covered health care benefits was assumed for 2014. The rate was assumed to decrease gradually each year to a rate of 4.50% for 2027, and remain at that level thereafter. Assumed health care cost trend rates have a significant effect on the amounts reported for the health care plans. A 1% increase in the assumed health care cost trend rates would increase the service and interest cost components of the net periodic benefit cost by $0.1 million and the health care component of the accumulated postretirement benefit obligation by $1.6 million. A 1% decrease in the assumed health care cost trend rate would decrease the service and interest cost components of the net periodic benefit cost by $0.1 million and the health care component of the accumulated postretirement benefit obligation by $1.4 million.

Plan Assets

The Company’s pension plan weighted average asset allocations at December 31, 2014 and 2013, by asset category, were as follows:



	2014		2013
Equity securities	51	%	66	%
Fixed income securities	49	%	34	%
Total	100	%	100	%

The following tables summarize the basis used to measure the defined benefit plans’ assets at fair value at December 31, 2014 and 2013:



	Basis of Fair Value Measurement
	Outstanding Balances		Level 1		Level 2		Level 3
As of December 31, 2014	(In thousands)
Equity
U.S. Large Cap	$	26,787	$	26,787	$	—	$	—
U.S. Small / Mid Cap	7,950		7,950		—		—
International	14,797		8,275		6,522		—
Fixed Income
U.S. Intermediate	14,906		14,906		—		—
U.S. Short Duration	8,817		8,817		—		—
U.S. High Yield	5,270		5,270		—		—
International	20,776		6,679		14,097		—
Other
Insurance Contracts	284		—		284		—
Cash and Equivalents	2,329		2,329		—		—
	$	101,916	$	81,013	$	20,903	$	—



	Basis of Fair Value Measurement
	Outstanding Balances		Level 1		Level 2		Level 3
As of December 31, 2013	(In thousands)
Equity
U.S. Large Cap	$	31,831	$	31,831	$	—	$	—
U.S. Small / Mid Cap	8,783		8,783		—		—
International	25,591		25,591		—		—
Fixed Income
U.S. Intermediate	18,715		18,715		—		—
U.S. Short Duration	8,954		8,954		—		—
U.S. High Yield	1,581		1,581		—		—
International	5,812		5,812		—		—
Other
Insurance Contracts	331		—		331		—
Cash and Equivalents	2,693		2,693		—		—
	$	104,291	$	103,960	$	331	$	—

Equities that are valued using quoted prices are valued at the published market prices. Equities in a common collective trust or a registered investment company that are valued using significant other observable inputs are valued at the net asset value (“NAV”) provided by the fund administrator. The NAV is based on the value of the underlying assets owned by the fund minus its liabilities. Fixed income securities that are valued using significant other observable inputs are valued at prices obtained from independent financial service industry-recognized vendors.

Investment Policies and Strategies

The investment objective of the plan, consistent with prudent standards for preservation of capital and maintenance of liquidity, is to earn the highest possible total rate of return consistent with the plan's tolerance for risk. The general asset allocation guidelines for plan assets are that “equities” will constitute from 40% to 60% of the market value of total fund assets with a target of 50%, and “fixed income” obligations, including cash, will constitute from 40% to 60% with a target of 50%. The term “equities” includes common stock, convertible bonds and convertible stock. The term “fixed income” includes preferred stock and/or contractual payments with a specific maturity date. The Company strives to maintain asset allocations within the designated ranges by conducting periodic reviews of fund allocations and plan liquidity needs, and rebalancing the portfolio accordingly. Diversification of assets is employed to ensure that adverse performance of one security or security class does not have an undue detrimental impact on the portfolio as a whole. Diversification is interpreted to include diversification by type, characteristic and number of investments, as well as by investment style of designated investment fund managers. No restrictions are placed on the selection of individual investments by the investment fund managers. The total fund performance and the performance of the investment fund managers is reviewed on a regular basis, using appointed professional independent advisors. As of December 31, 2014 and 2013, there were no shares of the Company’s stock held in plan assets.

Cash Flows

The Company expects to contribute approximately $1.6 million to its defined benefit plans and $0.5 million to its other postretirement benefit plans in 2015. The Company also expects to contribute approximately $9.1 million to its defined contribution plan and $8.0 million to its 401(k) savings plan in 2015.

Estimated Future Benefit Payments

The future estimated benefit payments for the next five years and the five years thereafter are as follows: 2015 — $9.0 million; 2016 — $9.6 million; 2017 — $10.1 million; 2018 — $10.7 million; 2019 — $10.7 million; 2020 to 2025 — $54.0 million.

- Definition

The entire disclosure for pension and other postretirement benefits.

+ References+ Details

Quarterly Results of Operations (Unaudited)

12 Months Ended

Dec. 31, 2014

Quarterly Financial Information Disclosure [Abstract]

Quarterly Results of Operations (Unaudited)

The following table summarizes the unaudited quarterly results of operations for the years ended December 31, 2014 and 2013.



	2014 Quarters								2013 Quarters
	First		Second		Third		Fourth		First		Second		Third		Fourth
	(In thousands, except per share amounts)
Net sales	$	543,996	$	546,693	$	533,179	$	523,899	$	494,448	$	518,445	$	490,617	$	520,620
Gross profit	244,420		241,132		234,646		229,117		211,997		222,849		211,509		227,009
Operating income	113,835		112,088		110,847		94,454		94,712		99,559		97,369		103,873
Net income	74,548		71,777		71,441		61,620		61,300		62,561		63,799		67,555
Basic EPS	$	0.92	$	0.89	$	0.89	$	0.78	$	0.74	$	0.76	$	0.78	$	0.83
Diluted EPS	$	0.91	$	0.88	$	0.88	$	0.77	$	0.74	$	0.76	$	0.78	$	0.82
Basic weighted average shares outstanding	80,527		80,106		79,558		78,669		82,197		81,829		81,259		80,782
Diluted weighted average shares outstanding	81,575		81,149		80,561		79,632		83,152		82,734		82,218		81,854

- Definition

The entire disclosure for the quarterly financial data in the annual financial statements. The disclosure may include a tabular presentation of financial information for each fiscal quarter for the current and previous year, including revenues, gross profit, income or loss before extraordinary items and earnings per share data. It also includes an indication if the information in the note is unaudited, comments on the aggregate effect of year-end adjustments, and an explanation of matters or transactions that affect comparability or are pertinent to an understanding of the information furnished.

+ References+ Details

Significant Accounting Policies (Policies)

12 Months Ended

Dec. 31, 2014

Accounting Policies [Abstract]

Business

Principles of Consolidation

The consolidated financial statements include the Company and its subsidiaries. All intercompany transactions and accounts have been eliminated.

Use of Estimates

Revenue Recognition

Shipping and Handling Costs

Shipping and handling costs are included in cost of sales and are recognized as a period expense during the period in which they are incurred.

Advertising Costs

Advertising costs of $14.5 million, $14.6 million and $15.3 million for 2014, 2013 and 2012, respectively, are expensed as incurred within Selling, general and administrative expenses.

Cash and Cash Equivalents

The Company considers all highly liquid instruments purchased with an original maturity of 90 days or less to be cash and cash equivalents.

Allowance for Doubtful Accounts

Inventories

Impairment of Long-Lived Assets

Goodwill and Indefinite-Lived Intangible Assets

Borrowing Expenses

Earnings per Common Share

ASC 260 concludes that all outstanding unvested share-based payment awards that contain rights to nonforfeitable

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



	2014	2013	2012
	(In thousands)
Basic weighted average common shares outstanding	79,715	81,517	82,689
Dilutive effect of stock options, unvested shares, performance share units and DCUs	1,013	972	952
Diluted weighted average common shares outstanding	80,728	82,489	83,641

Share-Based Compensation

Depreciation and Amortization

Property and equipment are stated at cost, with depreciation and amortization provided using the straight-line method over the following estimated useful lives:



Land improvements	8 to 12 years
Buildings and improvements	8 to 30 years
Machinery, equipment and other	3 to 12 years
Office and transportation equipment	3 to 10 years



Patents	5 to 17 years
Trade names	10 to 20 years
Customer relationships	5 to 20 years
Non-compete agreements	3 years
Unpatented technology and other	5 to 20 years

Research and Development Expenditures

Foreign Currency Translation

Income Taxes

Concentration of Credit Risk

The Company is not dependent on a single customer, the largest of which accounted for less than 2% of net sales for all years presented.

New Accounting Pronouncements

Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2014

Accounting Policies [Abstract]

Schedule Of Basic Weighted Average Shares Reconciles To Diluted Weighted Average Shares

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



	2014	2013	2012
	(In thousands)
Basic weighted average common shares outstanding	79,715	81,517	82,689
Dilutive effect of stock options, unvested shares, performance share units and DCUs	1,013	972	952
Diluted weighted average common shares outstanding	80,728	82,489	83,641

Property And Equipment At Cost, Depreciation And Amortization Estimated Useful Lives

Property and equipment are stated at cost, with depreciation and amortization provided using the straight-line method over the following estimated useful lives:



Land improvements	8 to 12 years
Buildings and improvements	8 to 30 years
Machinery, equipment and other	3 to 12 years
Office and transportation equipment	3 to 10 years

Schedule of Identifiable Intangible Assets, Useful Lives



Patents	5 to 17 years
Trade names	10 to 20 years
Customer relationships	5 to 20 years
Non-compete agreements	3 years
Unpatented technology and other	5 to 20 years

Acquisitions (Tables)

12 Months Ended

Dec. 31, 2014

Business Combinations [Abstract]

Schedule of Allocation of Acquisition Costs To Assets Acquired and Liabilities Assumed

The allocation of the acquisition costs to the assets acquired and liabilities assumed, based on their estimated fair values, is as follows:



(In thousands)
Accounts receivable	$	1,147
Inventory	6,230
Other current assets, net of cash acquired	232
Property, plant and equipment	2,988
Goodwill	7,711
Intangible assets	8,770
Total assets acquired	27,078
Total liabilities assumed	(1,633		)
Net assets acquired	$	25,445

The allocation of the acquisition costs to the assets acquired and liabilities assumed, based on their estimated fair values, is as follows:



(In thousands)
Accounts receivable	$	3,454
Inventory	4,524
Other current assets, net of cash acquired	131
Property, plant and equipment	1,357
Goodwill	17,994
Intangible assets	13,016
Total assets acquired	40,476
Total liabilities assumed	(5,939		)
Net assets acquired	$	34,537

The allocation of the acquisition costs to the assets acquired and liabilities assumed, based on their estimated fair values, is as follows:



(In thousands)	ERC			PPC			Matcon			Total
Accounts receivable	$	5,766		$	877		$	7,768		$	14,411
Inventory	4,224			932			604			5,760
Other current assets, net of cash acquired	981			252			1,880			3,113
Property, plant and equipment	2,738			1,936			5,695			10,369
Goodwill	8,499			13,941			27,947			50,387
Intangible assets	5,642			5,104			14,081			24,827
Other assets	1,509			13			53			1,575
Total assets acquired	29,359			23,055			58,028			110,442
Total liabilities assumed	(16,074		)	(2,465		)	(12,215		)	(30,754		)
Net assets acquired	$	13,285		$	20,590		$	45,813		$	79,688

Acquired Intangible Assets and Weighted Average Amortization Periods

The acquired intangible assets and weighted average amortization periods are as follows:



(In thousands, except weighted average life)	Total		Weighted Average Life
Trade names	$	3,304	15
Customer relationships	4,393		13.5
Unpatented technology	1,073		7.5
Total acquired intangible assets	$	8,770

The acquired intangible assets and weighted average amortization periods are as follows:



(In thousands, except weighted average life)	Total		Weighted Average Life
Trade names	$	1,005	15
Non-compete agreements	224		3
Customer relationships	10,950		9
Unpatented technology	837		8
Total acquired intangible assets	$	13,016

The acquired intangible assets and weighted average amortization periods are as follows:



(In thousands, except weighted average life)	Total		Weighted Average Life
Trade names	$	8,973	15
Non-compete agreements	470		3
Customer relationships	11,343		6
Unpatented technology	4,041		8
2012 acquired intangible assets	$	24,827

Balance Sheet Components (Tables)

12 Months Ended

Dec. 31, 2014

Additional Financial Information Disclosure [Abstract]

Balance Sheet Components



	December 31,
	2014		2013
	(In thousands)
RECEIVABLES
Customers	$	260,412	$	255,992
Other	2,589		3,075
Total	263,001		259,067
Less allowance for doubtful accounts	6,961		5,841
Total receivables — net	$	256,040	$	253,226
INVENTORIES
Raw materials and components parts	$	137,584	$	133,470
Work in process	37,178		41,895
Finished goods	62,869		55,602
Total	$	237,631	$	230,967
PROPERTY, PLANT AND EQUIPMENT
Land and improvements	$	31,121	$	32,723
Buildings and improvements	148,749		150,316
Machinery, equipment and other	311,036		300,858
Office and transportation equipment	98,279		95,923
Construction in progress	14,335		9,201
Total	603,520		589,021
Less accumulated depreciation and amortization	383,977		375,533
Total property, plant and equipment — net	$	219,543	$	213,488
ACCRUED EXPENSES
Payroll and related items	$	64,124	$	63,297
Management incentive compensation	21,567		20,949
Income taxes payable	9,305		11,746
Insurance	10,058		7,741
Warranty	7,196		4,888
Deferred revenue	11,813		9,455
Restructuring	6,056		—
Liability for uncertain tax positions	2,084		1,201
Accrued interest	1,738		1,354
Other	29,468		30,120
Total accrued expenses	$	163,409	$	150,751
OTHER NONCURRENT LIABILITIES
Pension and retiree medical obligations	$	90,584	$	67,777
Liability for uncertain tax positions	2,471		4,624
Deferred revenue	4,612		5,578
Other	16,610		15,087
Total other noncurrent liabilities	$	114,277	$	93,066

Valuation and Qualifying Accounts

The following table presents the valuation and qualifying account activity for the years ended December 31, 2014, 2013 and 2012:



	2014			2013			2012
	(In thousands)
ALLOWANCE FOR DOUBTFUL ACCOUNTS ⁽¹⁾
Beginning balance January 1	$	5,841		$	5,596		$	5,860
Charged to costs and expenses, net of recoveries	2,643			2,288			653
Utilization	(1,195		)	(1,921		)	(1,151		)
Currency translation and other	(328		)	(122		)	234
Ending balance December 31	$	6,961		$	5,841		$	5,596


(1)	Includes provision for doubtful accounts, sales returns and sales discounts granted to customers.

Goodwill and Intangible Assets (Tables)

12 Months Ended

Dec. 31, 2014

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Changes in the Carrying Amount of Goodwill

The changes in the carrying amount of goodwill for 2014 and 2013, by business segment, were as follows:



	Fluid & Metering Technologies			Health & Science Technologies			Fire & Safety/ Diversified Products			Total
	(In thousands)
Goodwill	$	545,046		$	703,024		$	274,288		$	1,522,358
Accumulated goodwill impairment losses	(20,721		)	(149,820		)	(30,090		)	(200,631		)
Balance at January 1, 2013	524,325			553,204			244,198			1,321,727
Acquisitions (Note 2)	—			17,994			—			17,994
Foreign currency translation	3,719			477			5,539			9,735
Balance at December 31, 2013	528,044			571,675			249,737			1,349,456
Acquisitions (Note 2)	7,711			—			—			7,711
Foreign currency translation	(11,606		)	(8,210		)	(16,074		)	(35,890		)
Balance at December 31, 2014	$	524,149		$	563,465		$	233,663		$	1,321,277

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 December 31, 2014 and 2013:



	At December 31, 2014								At December 31, 2013
	Gross Carrying Amount		Accumulated Amortization			Net		Weighted Average Life	Gross Carrying Amount		Accumulated Amortization			Net
			(In thousands)								(In thousands)
Amortizable intangible assets
Patents	$	10,016	$	(5,313	)	$	4,703	11	$	10,673	$	(5,179	)	$	5,494
Trade names	104,118		(32,881		)	71,237		16	104,582		(28,310		)	76,272
Customer relationships	222,486		(126,193		)	96,293		11	242,674		(121,092		)	121,582
Non-compete agreements	840		(636		)	204		3	3,769		(3,272		)	497
Unpatented technology	69,760		(35,165		)	34,595		11	75,528		(32,905		)	42,623
Other	7,034		(5,002		)	2,032		10	6,958		(4,299		)	2,659
Total amortizable intangible assets	414,254		(205,190		)	209,064			444,184		(195,057		)	249,127
Unamortized intangible assets
Banjo trade name	62,100		—			62,100			62,100		—			62,100
Total intangible assets	$	476,354	$	(205,190	)	$	271,164		$	506,284	$	(195,057	)	$	311,227

Borrowings (Tables)

12 Months Ended

Dec. 31, 2014

Debt Disclosure [Abstract]

Schedule of Borrowings

Borrowings at December 31, 2014 and 2013 consisted of the following:



	2014		2013
	(In thousands)
Revolving Facility	$	115,000	$	10,000
4.2% Senior Notes, due December 2021	349,351		349,272
4.5% Senior Notes, due December 2020	298,975		298,828
2.58% Senior Euro Notes, due June 2015	98,456		111,505
Other borrowings	2,170		4,271
Total borrowings	863,952		773,876
Less current portion	98,946		1,871
Total long-term borrowings	$	765,006	$	772,005

Schedule of Maturities of Borrowings

Total borrowings at December 31, 2014 have scheduled maturities as follows:



(In thousands)
2015	$	98,946
2016	115,522
2017	1,056
2018	102
2019	—
Thereafter	648,326
Total borrowings	$	863,952

Derivative Instruments (Tables)

12 Months Ended

Dec. 31, 2014

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Summary of Gain (Loss) Recognized and Amounts and Location of Income (Expense) and Gain (Loss) Reclassified Into Income For Interest Rate Contracts and Foreign Currency Contracts



	Loss Recognized in Other Comprehensive Income						Income (Expense) and Gain (Loss) Reclassified into Income									Income Statement Caption
	Twelve Months Ended December 31,
	2014		2013		2012		2014			2013			2012
	(In thousands)
Interest rate agreements	$	—	$	—	$	—	$	(7,223	)	$	(7,430	)	$	(7,637	)	Interest expense

Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2014

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 sheet at December 31, 2014 and 2013:



	Basis of Fair Value Measurements
	Balance at December 31, 2014		Level 1		Level 2		Level 3
	(In thousands)
Money market investments	$	21,094	$	21,094	$	—	$	—
Available for sale securities	4,513		4,513		—		—



	Balance at December 31, 2013		Level 1		Level 2		Level 3
	(In thousands)
Money market investments	$	27,871	$	27,871	$	—	$	—
Available for sale securities	3,255		3,255		—		—

Commitments and Contingencies (Tables)

12 Months Ended

Dec. 31, 2014

Commitments and Contingencies Disclosure [Abstract]

Future Minimum Lease Payments For Operating and Capital Leases

The aggregate future minimum lease payments for operating and capital leases as of December 31, 2014 were as follows:



	Operating		Capital
	(In thousands)
2015	$	16,206	$	499
2016	11,534		536
2017	8,168		1,058
2018	6,100		102
2019	3,481		—
2020 and thereafter	7,005		—
	$	52,494	$	2,195

Roll Forward of the Warranty Reserve

A rollforward of the warranty reserve is as follows:



	2014			2013			2012
	(In thousands)
Beginning balance January 1	$	4,888		$	4,875		$	4,417
Provision for warranties	6,220			3,845			5,398
Claim settlements	(3,823		)	(3,865		)	(5,214		)
Other adjustments, including acquisitions and currency translation	(89		)	33			274
Ending balance December 31	$	7,196		$	4,888		$	4,875

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2014

Income Tax Disclosure [Abstract]

Schedule of Income Before Income Tax

Pretax income for 2014, 2013 and 2012 was taxed in the following jurisdictions:



	2014		2013		2012
	(In thousands)
Domestic	$	275,334	$	233,530	$	65,738
Foreign	117,106		119,599		20,466
Total	$	392,440	$	353,129	$	86,204

Schedule of Components of Income Tax

The provision (benefit) for income taxes for 2014, 2013 and 2012, was as follows:



	2014			2013			2012
	(In thousands)
Current
U.S.	$	77,454		$	59,707		$	59,811
State and local	7,133			8,123			5,764
Foreign	37,060			33,240			20,228
Total current	121,647			101,070			85,803
Deferred
U.S.	(3,176		)	1,500			(31,246		)
State and local	(1,708		)	(55		)	(2,377		)
Foreign	(3,709		)	(4,601		)	(3,606		)
Total deferred	(8,593		)	(3,156		)	(37,229		)
Total provision for income taxes	$	113,054		$	97,914		$	48,574

Schedule of Deferred Tax Assets and Liabilities

Deferred tax assets (liabilities) at December 31, 2014 and 2013 were:



	2014			2013
	(In thousands)
Employee and retiree benefit plans	$	38,871		$	27,361
Depreciation and amortization	(172,766		)	(175,894		)
Inventories	11,229			9,627
Allowances and accruals	14,552			9,632
Interest rate exchange agreement	15,448			18,165
Other	4,626			4,636
Total	$	(88,040	)	$	(106,473	)

Schedule of Deferred Tax Assets (Liabilities) Recognized In Balance Sheets

The deferred tax assets and liabilities recognized in the Company’s Consolidated Balance Sheets as of December 31, 2014 and 2013 were:



	2014			2013
	(In thousands)
Deferred tax asset — other current assets	$	39,305		$	34,151
Deferred tax asset — other noncurrent assets	3,080			4,284
Total deferred tax assets	42,385			38,435
Deferred tax liability — accrued expenses	(57		)	—
Noncurrent deferred tax liability — deferred income taxes	(130,368		)	(144,908		)
Total deferred tax liabilities	(130,425		)	(144,908		)
Net deferred tax liabilities	$	(88,040	)	$	(106,473	)

Schedule of Effective Income Tax Rate Reconciliation



	2014			2013			2012
	(In thousands)
Pretax income	$	392,440		$	353,129		$	86,204
Provision for income taxes
Computed amount at statutory rate of 35%	$	137,354		$	123,595		$	30,171
State and local income tax (net of federal tax benefit)	4,875			4,382			2,406
Taxes on non-U.S. earnings-net of foreign tax credits	(9,378		)	(9,683		)	1,189
Effect of flow-through entities	(9,018		)	(7,267		)	(7,846		)
Goodwill and intangible asset impairments	—			—			28,524
U.S. business tax credits	(1,680		)	(1,516		)	—
Domestic activities production deduction	(7,489		)	(6,217		)	(5,267		)
Other	(1,610		)	(5,380		)	(603		)
Total provision for income taxes	$	113,054		$	97,914		$	48,574

Schedule of Unrecognized Tax Benefits

A reconciliation of the beginning and ending amount of unrecognized tax benefits for 2014, 2013 and 2012 is shown in the following table:



	2014			2013			2012
	(In thousands)
Beginning balance January 1	$	5,124		$	6,506		$	5,548
Gross increases for tax positions of prior years	834			1,357			3,017
Gross decreases for tax positions of prior years	(51		)	(99		)	(98		)
Settlements	(2,057		)	(1,219		)	—
Lapse of statute of limitations	(231		)	(1,421		)	(1,961		)
Ending balance December 31	$	3,619		$	5,124		$	6,506

- Definition

Tabular disclosure of tax positions taken in the tax returns filed or to be filed for which it is more likely than not that the tax position will not be sustained upon examination by taxing authorities (i.e., uncertain tax positions) and other types of income tax contingencies, including: (1) the policy on classification of interest and penalties; (2) a tabular reconciliation of the total amounts of unrecognized tax benefits at the beginning and end of the period; the total amount(s) of: (3) unrecognized tax benefits that, if recognized, would affect the effective tax rate, and (4) interest and penalties recognized in each of the income statement and balance sheet; (5) for positions for which it is reasonably possible that the total amounts unrecognized will significantly change within 12 months of the reporting date the: (i) nature of the uncertainty, (ii) nature of the event that could occur that would cause the change, and (iii) an estimate of the range of the reasonably possible change or a statement that an estimate of the range cannot be made; and (6) a description of tax years that remain subject to examination by major tax jurisdictions.

+ References+ Details

Business Segments and Geographic Information (Tables)

12 Months Ended

Dec. 31, 2014

Segment Reporting [Abstract]

Schedule of Information On Company's Business Segments



	2014			2013			2012
	(In thousands)
NET SALES
Fluid & Metering Technologies
External customers	$	898,530		$	870,720		$	829,320
Intersegment sales	1,058			1,094			3,968
	899,588			871,814			833,288
Health & Science Technologies
External customers	747,186			708,940			689,574
Intersegment sales	4,835			5,710			5,661
Total segment sales	752,021			714,650			695,235
Fire & Safety/Diversified Products
External customers	502,051			444,470			435,364
Intersegment sales	698			579			1,689
Total segment sales	502,749			445,049			437,053
Intersegment eliminations	(6,591		)	(7,383		)	(11,318		)
Total net sales	$	2,147,767		$	2,024,130		$	1,954,258
OPERATING INCOME (LOSS) ⁽¹⁾
Fluid & Metering Technologies ⁽²⁾	$	216,886		$	211,256		$	146,650
Health & Science Technologies ⁽²⁾	152,999			136,707			(62,835		)
Fire & Safety/Diversified Products	130,494			102,730			96,120
Corporate office	(69,155		)	(55,180		)	(51,717		)
Total operating income	431,224			395,513			128,218
Interest expense	41,895			42,206			42,250
Other (income) expense - net	(3,111		)	178			(236		)
Income before taxes	$	392,440		$	353,129		$	86,204



	2014		2013		2012
	(In thousands)
ASSETS
Fluid & Metering Technologies	$	1,026,238	$	1,025,352	$	1,023,143
Health & Science Technologies	1,101,155		1,113,546		1,102,868
Fire & Safety/Diversified Products	510,841		484,139		488,886
Corporate office	269,836		264,540		170,493
Total assets	$	2,908,070	$	2,887,577	$	2,785,390
DEPRECIATION AND AMORTIZATION ⁽³⁾
Fluid & Metering Technologies	$	26,453	$	27,633	$	29,637
Health & Science Technologies	42,478		43,496		39,981
Fire & Safety/Diversified Products	6,583		6,852		7,107
Corporate office and other	1,393		1,353		1,587
Total depreciation and amortization	$	76,907	$	79,334	$	78,312
CAPITAL EXPENDITURES
Fluid & Metering Technologies	$	18,215	$	11,581	$	13,535
Health & Science Technologies	19,161		12,280		13,140
Fire & Safety/Diversified Products	6,761		5,040		6,654
Corporate office and other	3,860		2,635		2,191
Total capital expenditures	$	47,997	$	31,536	$	35,520


(1)	Segment operating income (loss) excludes net unallocated corporate operating expenses.


(2)	Segment operating income (loss) includes asset impairment charges in 2012 of $27.7 million within the Fluid & Metering Technologies segment and $170.8 million within the Health & Science Technologies segment.


(3)	Excludes amortization of debt issuance expenses.

Schedule of Sales From External Customers and Long-Lived Assets



	2014		2013		2012
	(In thousands)
NET SALES
U.S.	$	1,068,758	$	983,791	$	963,137
North America, excluding U.S.	95,917		88,213		93,010
Europe	527,975		521,491		479,744
Asia	337,668		306,466		305,185
Other	117,449		124,169		113,182
Total net sales	$	2,147,767	$	2,024,130	$	1,954,258
LONG-LIVED ASSETS — PROPERTY, PLANT AND EQUIPMENT
U.S.	$	139,702	$	124,880	$	127,425
North America, excluding U.S.	814		901		1,239
Europe	54,088		63,018		64,137
Asia	24,912		24,590		26,320
Other	27		99		40
Total long-lived assets — net	$	219,543	$	213,488	$	219,161

- Definition

Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss.

+ References+ Details

Restructuring (Tables)

12 Months Ended

Dec. 31, 2014

Restructuring and Related Activities [Abstract]

Schedule of Pre-Tax Restructuring Expenses By Segment

Pre-tax restructuring expenses by segment for 2014 were as follows:



	Severance Costs		Exit Costs and Asset Impairments		Total
	(In thousands)
Fluid & Metering Technologies	$	6,413	$	—	$	6,413
Health & Science Technologies	3,520		1,392		4,912
Fire & Safety/Diversified Products	908		126		1,034
Corporate/Other	1,313		—		1,313
Total restructuring costs	$	12,154	$	1,518	$	13,672

2011 Initiative

Pre-tax restructuring expenses by segment, for 2012, were as follows:



	Severance Costs		Exit Costs		Total
	(In thousands)
Fluid & Metering Technologies	$	6,226	$	36	$	6,262
Health & Science Technologies	11,223		3,521		14,744
Fire & Safety/Diversified Products	3,226		5,114		8,340
Corporate/Other	2,844		283		3,127
Total restructuring costs	$	23,519	$	8,954	$	32,473

Schedule of Restructuring Accruals Expenses

Restructuring accruals of $6.1 million and zero at December 31, 2014 and 2013, respectively, are reflected in Accrued expenses in our Consolidated Balance Sheets as follows:



	Restructuring Initiatives
	(In thousands)
Balance at January 1, 2013	$	10,887
Restructuring expenses	—
Payments, utilization and other	(10,887		)
Balance at December 31, 2013	—
Restructuring expenses	13,672
Payments, utilization and other	(7,616		)
Balance at December 31, 2014	$	6,056

Share-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2014

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Schedule of Weighted Average Option Fair Values and Assumptions

Weighted average option fair values and assumptions for the period specified are disclosed in the following table:



	Years Ended December 31,
	2014	2013	2012
Weighted average fair value of grants	$19.52	$12.97	$11.40
Dividend yield	1.27%	1.57%	1.59%
Volatility	30.36%	30.92%	32.00%
Risk-free interest rate	0.12% - 4.65%	0.17% - 4.12%	0.17% - 3.96%
Expected life (in years)	5.89	5.86	5.98

Schedule of Weighted Average Performance Share Units Fair Values and Assumptions

Weighted average performance share unit fair values and assumptions for the period specified are disclosed in the following table:



	Years Ended December 31,
	2014	2013
Weighted average fair value of grants	$94.55	$59.58
Dividend yield	—%	—%
Volatility	26.41%	28.99%
Risk-free interest rate	0.65%	0.40%
Expected life (in years)	2.88	2.87

Schedule of Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Table Text Block]

Total compensation cost for performance share units is as follows:



	Years Ended December 31,
	2014			2013
	(In thousands)
Cost of goods sold	$	—		$	—
Selling, general and administrative expenses	3,220			873
Total expense before income taxes	3,220			873
Income tax benefit	(1,081		)	(280		)
Total expense after income taxes	$	2,139		$	593

Schedule of Stock Option Activity

A summary of the Company’s stock option activity as of December 31, 2014, and changes during the year ended December 31, 2014 is presented in the following table:



Stock Options	Shares		Weighted Average Price		Weighted-Average Remaining Contractual Term	Aggregate Intrinsic Value
Outstanding at January 1, 2014	2,516,618		$	39.60	6.87	$	86,200,655
Granted	514,905		72.77
Exercised	(489,047	)	34.59
Forfeited	(163,917	)	52.59
Outstanding at December 31, 2014	2,378,559		$	46.91	6.69	$	73,561,785
Vested and expected to vest at December 31, 2014	2,279,445		$	46.24	6.60	$	72,026,247
Exercisable at December 31, 2014	1,157,805		$	36.70	5.17	$	47,631,234

Schedule of Unvested Share Activity

A summary of the Company’s unvested share activity as of December 31, 2014, and changes during the year ending December 31, 2014 is presented in the following table:



Unvested Shares	Shares		Weighted-Average Grant Date Fair Value
Unvested at January 1, 2014	618,679		$	50.33
Granted	146,360		74.10
Vested	(215,576	)	45.10
Forfeited	(70,799	)	57.83
Unvested at December 31, 2014	478,664		$	59.71

Schedule of Performance Share Units Activity

A summary of the Company's performance share unit activity as of December 31, 2014, and changes during the year ending December 31, 2014 is presented in the following table:



Performance Share Units	Shares		Weighted-Average Grant Date Fair Value
Unvested at January 1, 2014	53,205		$	59.98
Granted	91,030		94.55
Vested	—		—
Forfeited	(8,695	)	78.26
Unvested at December 31, 2014	135,540		$	81.87

Stock Option

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Schedule of Compensation Cost for Stock Options and Unvested Shares

Total compensation cost for stock options is as follows:



	Years Ended December 31,
	2014			2013			2012
	(In thousands)
Cost of goods sold	$	581		$	479		$	650
Selling, general and administrative expenses	6,245			5,789			5,642
Total expense before income taxes	6,826			6,268			6,292
Income tax benefit	(2,194		)	(2,016		)	(1,988		)
Total expense after income taxes	$	4,632		$	4,252		$	4,304

Unvested Shares

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Schedule of Compensation Cost for Stock Options and Unvested Shares

Total compensation cost for unvested shares is as follows:



	Years Ended December 31,
	2014			2013			2012
	(In thousands)
Cost of goods sold	$	1,753		$	1,380		$	991
Selling, general and administrative expenses	8,917			8,471			5,819
Total expense before income taxes	10,670			9,851			6,810
Income tax benefit	(2,233		)	(2,296		)	(1,682		)
Total expense after income taxes	$	8,437		$	7,555		$	5,128

Other Comprehensive Income (Loss) (Tables)

12 Months Ended

Dec. 31, 2014

Equity [Abstract]

Schedule of Accumulated Other Comprehensive Income (Loss)

The components of Other comprehensive income (loss) are as follows:



	For the Year Ended December 31, 2014									For the Year Ended December 31, 2013
	Pre-tax			Tax			Net of tax			Pre-tax		Tax			Net of tax
	(In thousands)
Cumulative translation adjustment	$	(77,024	)	$	—		$	(77,024	)	$	13,572	$	—		$	13,572
Pension and other postretirement adjustments
Net gain (loss) arising during the year	(26,424		)	7,767			(18,657		)	26,274		(9,859		)	16,415
Amortization/settlement recognition of net loss (gain)	3,113			(915		)	2,198			8,599		(3,226		)	5,373
Pension and other postretirement adjustments, net	(23,311		)	6,852			(16,459		)	34,873		(13,085		)	21,788
Reclassification adjustments for derivatives	7,223			(2,713		)	4,510			7,430		(2,692		)	4,738
Total other comprehensive income (loss)	$	(93,112	)	$	4,139		$	(88,973	)	$	55,875	$	(15,777	)	$	40,098



	For the Year Ended December 31, 2012
	Pre-tax			Tax			Net of tax
	(In thousands)
Cumulative translation adjustment	$	14,445		$	—		$	14,445
Pension and other postretirement adjustments
Net gain (loss) arising during the year	(16,607		)	3,107			(13,500		)
Amortization or settlement recognition of net loss (gain)	7,801			(1,460		)	6,341
Pension and other postretirement adjustments, net	(8,806		)	1,647			(7,159		)
Reclassification adjustments for derivatives	7,571			(2,791		)	4,780
Total other comprehensive income (loss)	$	13,210		$	(1,144	)	$	12,066

Reclassification out of Accumulated Other Comprehensive Income

Amounts reclassified from accumulated other comprehensive income (loss) to net income are summarized as follows:



	For the Years Ended December 31,
	2014			2013			2012			Income Statement Caption
Pension and other postretirement plans:
Amortization of service cost	$	3,113		$	8,599		$	7,801		Selling, general and administrative expense
Total before tax	3,113			8,599			7,801
Provision for income taxes	(915		)	(3,226		)	(1,460		)
Total net of tax	$	2,198		$	5,373		$	6,341
Derivatives:
Reclassification adjustments	$	7,223		$	7,430		$	7,571		Interest expense
Total before tax	7,223			7,430			7,571
Provision for income taxes	(2,713		)	(2,692		)	(2,791		)
Total net of tax	$	4,510		$	4,738		$	4,780

Retirement Benefits (Tables)

12 Months Ended

Dec. 31, 2014

Defined Benefit Plan Disclosure [Line Items]

Reconciliation of Changes in Benefit Obligations and Fair Value of Plan Assets



	Pension Benefits												Other Benefits
	2014						2013						2014			2013
	U.S.			Non-U.S.			U.S.			Non-U.S.
	(In thousands)
CHANGE IN BENEFIT OBLIGATION
Obligation at January 1	$	92,839		$	60,471		$	111,188		$	56,555		$	21,354		$	25,587
Service cost	1,162			1,331			1,526			1,388			714			968
Interest cost	4,037			2,345			3,766			2,146			932			906
Plan amendments	—			(150		)	—			—			—			—
Benefits paid	(6,230		)	(2,955		)	(2,479		)	(1,957		)	(691		)	(801		)
Actuarial loss (gain)	10,540			15,092			(11,885		)	581			728			(5,139		)
Currency translation	—			(6,646		)	—			1,758			(182		)	(167		)
Curtailments/settlements	(36		)	—			(9,277		)	—			—			—
Acquisition	—			—			—			—			—			—
Obligation at December 31	$	102,312		$	69,488		$	92,839		$	60,471		$	22,855		$	21,354
CHANGE IN PLAN ASSETS
Fair value of plan assets at January 1	$	81,957		$	22,334		$	74,578		$	19,660		$	—		$	—
Actual return on plan assets	2,385			1,738			14,303			2,341			—			—
Employer contributions	1,611			2,424			4,832			1,840			691			801
Benefits paid	(6,230		)	(2,955		)	(2,479		)	(1,957		)	(691		)	(801		)
Currency translation	—			(1,389		)	—			447			—			—
Settlements	(36		)	—			(9,277		)	3			—			—
Other	—			—			—			—			—			—
Fair value of plan assets at December 31	$	79,687		$	22,152		$	81,957		$	22,334		$	—		$	—
Funded status at December 31	$	(22,625	)	$	(47,336	)	$	(10,882	)	$	(38,138	)	$	(22,855	)	$	(21,354	)
COMPONENTS ON THE CONSOLIDATED BALANCE SHEETS
Current liabilities	$	(522	)	$	(805	)	$	(656	)	$	(995	)	$	(905	)	$	(946	)
Other noncurrent liabilities	(22,103		)	(46,531		)	(10,226		)	(37,143		)	(21,950		)	(20,408		)
Net liability at December 31	$	(22,625	)	$	(47,336	)	$	(10,882	)	$	(38,138	)	$	(22,855	)	$	(21,354	)

Weighted Average Assumptions Used in Measurement of Benefit Obligation

The weighted average assumptions used in the measurement of the Company’s benefit obligation at December 31, 2014 and 2013 were as follows:



	U.S. Plans				Non-U.S. Plans
	2014		2013		2014		2013
Discount rate	3.78	%	4.61	%	2.66	%	4.03	%
Rate of compensation increase	4.00	%	4.00	%	3.00	%	3.14	%

Pretax Amounts Recognized in Accumulated Other Comprehensive Income (Loss)

The pretax amounts recognized in Accumulated other comprehensive income (loss) as of December 31, 2014 and 2013 were as follows:



	Pension Benefits									Other Benefits
	2014					2013				2014			2013
	U.S.		Non-U.S.			U.S.		Non-U.S
	(In thousands)
Prior service cost (credit)	$	86	$	(40	)	$	170	$	312	$	(1,580	)	$	(1,951	)
Net loss	34,337		25,275			22,854		14,262		655			(225		)
Total	$	34,423	$	25,235		$	23,024	$	14,574	$	(925	)	$	(2,176	)

Amounts in Accumulated Other Comprehensive Income (Loss) Expected to Be Recognized as Components of Net Periodic Benefit Cost During 2012

The amounts in Accumulated other comprehensive income (loss) as of December 31, 2014, that are expected to be recognized as components of net periodic benefit cost during 2015 are as follows:



	U.S. Pension Benefit Plans		Non-U.S. Pension Benefit Plans			Other Benefit Plans			Total
	(In thousands)
Prior service cost (credit)	$	51	$	(14	)	$	(366	)	$	(329	)
Net loss	3,130		1,904			(50		)	4,984
Total	$	3,181	$	1,890		$	(416	)	$	4,655

Weighted Average Assumptions Used to Determine Net Periodic Benefit Cost of Plans



	U.S. Plans						Non-U.S. Plans
	2014		2013		2012		2014		2013		2012
Discount rate	4.61	%	3.56	%	4.45	%	4.03	%	3.91	%	4.68	%
Expected return on plan assets	7.00	%	7.50	%	8.00	%	5.83	%	5.53	%	5.90	%
Rate of compensation increase	4.00	%	3.94	%	3.90	%	3.14	%	2.99	%	2.96	%

Pension Plan Weighted Average Asset Allocations

The Company’s pension plan weighted average asset allocations at December 31, 2014 and 2013, by asset category, were as follows:



	2014		2013
Equity securities	51	%	66	%
Fixed income securities	49	%	34	%
Total	100	%	100	%

Summary of Basis Used to Measure Defined Benefit Plans' Assets at Fair Value

The following tables summarize the basis used to measure the defined benefit plans’ assets at fair value at December 31, 2014 and 2013:



	Basis of Fair Value Measurement
	Outstanding Balances		Level 1		Level 2		Level 3
As of December 31, 2014	(In thousands)
Equity
U.S. Large Cap	$	26,787	$	26,787	$	—	$	—
U.S. Small / Mid Cap	7,950		7,950		—		—
International	14,797		8,275		6,522		—
Fixed Income
U.S. Intermediate	14,906		14,906		—		—
U.S. Short Duration	8,817		8,817		—		—
U.S. High Yield	5,270		5,270		—		—
International	20,776		6,679		14,097		—
Other
Insurance Contracts	284		—		284		—
Cash and Equivalents	2,329		2,329		—		—
	$	101,916	$	81,013	$	20,903	$	—



	Basis of Fair Value Measurement
	Outstanding Balances		Level 1		Level 2		Level 3
As of December 31, 2013	(In thousands)
Equity
U.S. Large Cap	$	31,831	$	31,831	$	—	$	—
U.S. Small / Mid Cap	8,783		8,783		—		—
International	25,591		25,591		—		—
Fixed Income
U.S. Intermediate	18,715		18,715		—		—
U.S. Short Duration	8,954		8,954		—		—
U.S. High Yield	1,581		1,581		—		—
International	5,812		5,812		—		—
Other
Insurance Contracts	331		—		331		—
Cash and Equivalents	2,693		2,693		—		—
	$	104,291	$	103,960	$	331	$	—

Net Periodic Benefit Cost

Defined Benefit Plan Disclosure [Line Items]

Pretax Amounts Recognized in Accumulated Other Comprehensive Income (Loss)

The following table provides the pretax change recognized in Accumulated other comprehensive income (loss) in 2014:



	Pension Benefits
	U.S.			Non-U.S.			Other Benefits
	(In thousands)
Net loss in current year	$	(13,585	)	$	(14,650	)	$	(730	)
Prior service cost	—			150			—
Amortization of prior service cost (credit)	84			188			(371		)
Amortization of net loss	2,102			1,212			(103		)
Exchange rate effect on amounts in OCI	—			2,439			(47		)
Total	$	(11,399	)	$	(10,661	)	$	(1,251	)

Pension Plans

Defined Benefit Plan Disclosure [Line Items]

Components of Net Periodic Benefit Cost for Defined Benefit Plans and Other Postretirement Plans

The following tables provide the components of, and the weighted average assumptions used to determine, the net periodic benefit cost for the plans in 2014, 2013 and 2012:



	Pension Benefits
	2014						2013						2012
	U.S.			Non-U.S.			U.S.			Non-U.S.			U.S.			Non-U.S.
	(In thousands)
Service cost	$	1,162		$	1,331		$	1,526		$	1,388		$	1,756		$	1,300
Interest cost	4,037			2,345			3,766			2,146			4,247			2,206
Expected return on plan assets	(5,430		)	(1,297		)	(5,318		)	(1,055		)	(4,687		)	(1,035		)
Net amortization	2,187			1,400			7,621			955			5,376			589
Net periodic benefit cost	$	1,956		$	3,779		$	7,595		$	3,434		$	6,692		$	3,060

Other Postretirement Benefit Plans

Defined Benefit Plan Disclosure [Line Items]

Components of Net Periodic Benefit Cost for Defined Benefit Plans and Other Postretirement Plans



	Other Benefits
	2014			2013		2012
	(In thousands)
Service cost	$	714		$	968	$	763
Interest cost	932			906		922
Net amortization	(474		)	24		11
Net periodic benefit cost	$	1,172		$	1,898	$	1,696

- Definition

Tabular disclosure of one or more of the entity's defined benefit pension plans or one or more other defined benefit postretirement plans, separately for pension plans and other postretirement benefit plans including the entity's schedule of fair value of plan assets for defined benefit or other postretirement plans.

+ References+ Details

Quarterly Results of Operations (Unaudited) (Tables)

12 Months Ended

Dec. 31, 2014

Quarterly Financial Information Disclosure [Abstract]

Summarized Quarterly Results of Operations

The following table summarizes the unaudited quarterly results of operations for the years ended December 31, 2014 and 2013.



	2014 Quarters								2013 Quarters
	First		Second		Third		Fourth		First		Second		Third		Fourth
	(In thousands, except per share amounts)
Net sales	$	543,996	$	546,693	$	533,179	$	523,899	$	494,448	$	518,445	$	490,617	$	520,620
Gross profit	244,420		241,132		234,646		229,117		211,997		222,849		211,509		227,009
Operating income	113,835		112,088		110,847		94,454		94,712		99,559		97,369		103,873
Net income	74,548		71,777		71,441		61,620		61,300		62,561		63,799		67,555
Basic EPS	$	0.92	$	0.89	$	0.89	$	0.78	$	0.74	$	0.76	$	0.78	$	0.83
Diluted EPS	$	0.91	$	0.88	$	0.88	$	0.77	$	0.74	$	0.76	$	0.78	$	0.82
Basic weighted average shares outstanding	80,527		80,106		79,558		78,669		82,197		81,829		81,259		80,782
Diluted weighted average shares outstanding	81,575		81,149		80,561		79,632		83,152		82,734		82,218		81,854

Significant Accounting Policies - Additional Information (Detail) (USD $) In Millions, except Share data, unless otherwise specified	12 Months Ended
	Dec. 31, 2014 segment	Dec. 31, 2013	Dec. 31, 2012
Accounting Policies [Abstract]
Number of reportable segments	3
Advertising costs	$ 14.5	$ 14.6	$ 15.3
Highly liquid debt instruments, maturity period	90 days or less
Impairment of long-lived assets	2.5	2.7	7.0
(Increase) decrease in income attributable to common shareholders	1.3	1.2	0.1
Option to purchase common stock shares not included in the computation of diluted EPS	500,000	0	1,200,000
Research and development expense	36.8	33.0	36.4
Foreign currency transaction loss	$ 0.9	$ 2.2	$ 2.3
Percentage of concentration risk	2.00%

Schedule of Basic Weighted Average Shares Reconciles to Diluted Weighted Average Shares Outstanding (Detail) In Thousands, unless otherwise specified	3 Months Ended								12 Months Ended
	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2013	Sep. 30, 2013	Jun. 30, 2013	Mar. 31, 2013	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Accounting Policies [Abstract]
Basic weighted average common shares outstanding	78,669	79,558	80,106	80,527	80,782	81,259	81,829	82,197	79,715	81,517	82,689
Dilutive effect of stock options, unvested shares, performance share units and DCUs									1,013	972	952
Diluted weighted average common shares outstanding	79,632	80,561	81,149	81,575	81,854	82,218	82,734	83,152	80,728	82,489	83,641

Property And Equipment at Cost Depreciation and Amortization Estimated Useful Lives (Detail)	12 Months Ended
	Dec. 31, 2014
Land improvements \| Minimum
Property, Plant and Equipment [Line Items]
Estimated useful life	8 years
Land improvements \| Maximum
Property, Plant and Equipment [Line Items]
Estimated useful life	12 years
Buildings and improvements \| Minimum
Property, Plant and Equipment [Line Items]
Estimated useful life	8 years
Buildings and improvements \| Maximum
Property, Plant and Equipment [Line Items]
Estimated useful life	30 years
Machinery, equipment and other \| Minimum
Property, Plant and Equipment [Line Items]
Estimated useful life	3 years
Machinery, equipment and other \| Maximum
Property, Plant and Equipment [Line Items]
Estimated useful life	12 years
Office and transportation equipment \| Minimum
Property, Plant and Equipment [Line Items]
Estimated useful life	3 years
Office and transportation equipment \| Maximum
Property, Plant and Equipment [Line Items]
Estimated useful life	10 years

Intangible Asset Depreciation and Amortization Estimated Useful Lives (Detail)	12 Months Ended
	Dec. 31, 2014
Patents
Finite-Lived Intangible Assets [Line Items]
Estimated useful life	11 years
Patents \| Minimum
Finite-Lived Intangible Assets [Line Items]
Estimated useful life	5 years
Patents \| Maximum
Finite-Lived Intangible Assets [Line Items]
Estimated useful life	17 years
Trade Names
Finite-Lived Intangible Assets [Line Items]
Estimated useful life	16 years
Trade Names \| Minimum
Finite-Lived Intangible Assets [Line Items]
Estimated useful life	10 years
Trade Names \| Maximum
Finite-Lived Intangible Assets [Line Items]
Estimated useful life	20 years
Customer Relationships
Finite-Lived Intangible Assets [Line Items]
Estimated useful life	11 years
Customer Relationships \| Minimum
Finite-Lived Intangible Assets [Line Items]
Estimated useful life	5 years
Customer Relationships \| Maximum
Finite-Lived Intangible Assets [Line Items]
Estimated useful life	20 years
Non-Compete Agreements
Finite-Lived Intangible Assets [Line Items]
Estimated useful life	3 years
Unpatented technology and other
Finite-Lived Intangible Assets [Line Items]
Estimated useful life	11 years
Unpatented technology and other \| Minimum
Finite-Lived Intangible Assets [Line Items]
Estimated useful life	5 years
Unpatented technology and other \| Maximum
Finite-Lived Intangible Assets [Line Items]
Estimated useful life	20 years

Acquisitions - Additional Information (Detail)	12 Months Ended			12 Months Ended	0 Months Ended	12 Months Ended		0 Months Ended				0 Months Ended			0 Months Ended		1 Months Ended
Acquisitions - Additional Information (Detail)	Dec. 31, 2013 USD ($)	Dec. 31, 2012 USD ($)	Dec. 31, 2014 USD ($)	Dec. 31, 2012 Cost of goods sold USD ($)	Apr. 28, 2014 Aegis Flow Technologies [Member] USD ($)	Dec. 31, 2014 Aegis Flow Technologies [Member] USD ($)	Apr. 28, 2014 Aegis Flow Technologies [Member] USD ($)	Mar. 18, 2013 FTL USD ($)	Mar. 18, 2013 FTL GBP (£)	Apr. 11, 2012 PPC USD ($)	Dec. 31, 2012 PPC USD ($)	Apr. 30, 2012 ERC USD ($)	Apr. 30, 2012 ERC JPY (¥)	Dec. 31, 2012 ERC USD ($)	Jul. 20, 2012 Matcon USD ($)	Jul. 20, 2012 Matcon GBP (£)	Nov. 30, 2013 Matcon USD ($)	Apr. 30, 2013 Matcon USD ($)	Dec. 31, 2012 Matcon USD ($)
Business Acquisition [Line Items]
Annual revenue of entity acquired					$ 15,000,000
Business combination, cash consideration paid					25,000,000			34,500,000	23,100,000	20,600,000		13,300,000			35,000,000
Goodwill	1,349,456,000	1,321,727,000	1,321,277,000				7,711,000	17,994,000		13,900,000	13,941,000	8,500,000		8,499,000	28,000,000				27,947,000
Intangible assets							8,770,000	13,016,000			5,104,000			5,642,000					14,081,000
Goodwill not deductible for tax purpose								18,000,000		13,900,000		8,500,000			28,000,000
Business Acquisition Cost Of Acquired Entity Transaction Cost						1,700,000
Fair value of inventory charges associated with acquisitions	1,800,000			900,000		1,300,000
Acquisition-related transaction costs	1,400,000	2,700,000
Intangible assets										5,100,000		5,600,000			14,100,000
Aggregate purchase price												18,000,000	1,470,000,000		45,800,000	29,100,000
Assumption of debt												4,700,000
Business combination, working capital adjustments															2,400,000
Contingent consideration value as of opening balance sheet date															8,400,000
Business Combination, Contingent Consideration, Liability															8,400,000
Change in amount of contingent consideration, liability																	1,100,000	3,800,000
Business combination, amount financed with borrowings under the revolving facility															$ 15,000,000

Allocation of Acquisition Costs to Assets Acquired and Liabilities Assumed (Detail) (USD $) In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012	Apr. 28, 2014 Aegis Flow Technologies [Member]	Mar. 18, 2013 FTL	Dec. 31, 2012 ERC	Apr. 30, 2012 ERC	Dec. 31, 2012 PPC	Apr. 11, 2012 PPC	Dec. 31, 2012 Matcon	Jul. 20, 2012 Matcon	Dec. 31, 2012 ERC, PPC and Matcon [Member]
Business Acquisition [Line Items]
Accounts receivable				$ 1,147	$ 3,454	$ 5,766		$ 877		$ 7,768		$ 14,411
Inventory				6,230	4,524	4,224		932		604		5,760
Other current assets, net of cash acquired				232	131	981		252		1,880		3,113
Property, plant and equipment				2,988	1,357	2,738		1,936		5,695		10,369
Goodwill	1,321,277	1,349,456	1,321,727	7,711	17,994	8,499	8,500	13,941	13,900	27,947	28,000	50,387
Intangible assets				8,770	13,016	5,642		5,104		14,081		24,827
Other assets						1,509		13		53		1,575
Total assets acquired				27,078	40,476	29,359		23,055		58,028		110,442
Total liabilities assumed				(1,633)	(5,939)	(16,074)		(2,465)		(12,215)		(30,754)
Net assets acquired				$ 25,445	$ 34,537	$ 13,285		$ 20,590		$ 45,813		$ 79,688

Acquired Intangible Assets and Weighted Average Amortization Periods (Detail) (USD $) In Thousands, unless otherwise specified	0 Months Ended	12 Months Ended	0 Months Ended	12 Months Ended	0 Months Ended	12 Months Ended	0 Months Ended	12 Months Ended	0 Months Ended	12 Months Ended	0 Months Ended
	Mar. 18, 2013	Dec. 31, 2012	Mar. 18, 2013 Trade Names	Dec. 31, 2012 Trade Names	Mar. 18, 2013 Non-Compete Agreements	Dec. 31, 2012 Non-Compete Agreements	Mar. 18, 2013 Customer Relationships	Dec. 31, 2012 Customer Relationships	Mar. 18, 2013 Unpatented technology and other	Dec. 31, 2012 Unpatented technology and other	Apr. 28, 2014 Aegis Flow Technologies [Member]	Apr. 28, 2014 Aegis Flow Technologies [Member] Trade Names	Apr. 28, 2014 Aegis Flow Technologies [Member] Customer Relationships	Apr. 28, 2014 Aegis Flow Technologies [Member] Unpatented technology and other
Acquired Finite-Lived Intangible Assets [Line Items]
Intangible assets, Total	$ 13,016	$ 24,827	$ 1,005	$ 8,973	$ 224	$ 470	$ 10,950	$ 11,343	$ 837	$ 4,041	$ 8,770	$ 3,304	$ 4,393	$ 1,073
Weighted Average Life			15 years	15 years	3 years	3 years	9 years	6 years	8 years	8 years		15 years	13 years 6 months	7 years 6 months

Balance Sheet Components (Detail) (USD $) In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013
Additional Financial Information Disclosure [Abstract]
Customers	$ 260,412	$ 255,992
Other	2,589	3,075
Total	263,001	259,067
Less allowance for doubtful accounts	6,961	5,841
Total receivables — net	256,040	253,226
Raw materials and components parts	137,584	133,470
Work in process	37,178	41,895
Finished goods	62,869	55,602
Total	237,631	230,967
Land and improvements	31,121	32,723
Buildings and improvements	148,749	150,316
Machinery, equipment and other	311,036	300,858
Office and transportation equipment	98,279	95,923
Construction in progress	14,335	9,201
Total	603,520	589,021
Less accumulated depreciation and amortization	383,977	375,533
Total property, plant and equipment — net	219,543	213,488
Payroll and related items	64,124	63,297
Management incentive compensation	21,567	20,949
Income taxes payable	9,305	11,746
Insurance	10,058	7,741
Warranty	7,196	4,888
Deferred revenue	11,813	9,455
Restructuring	6,056	0
Liability for uncertain tax positions	2,084	1,201
Accrued interest	1,738	1,354
Other	29,468	30,120
Total accrued expenses	163,409	150,751
Pension and retiree medical obligations	90,584	67,777
Liability for uncertain tax positions	2,471	4,624
Deferred revenue	4,612	5,578
Other	16,610	15,087
Total other noncurrent liabilities	$ 114,277	$ 93,066

Balance Sheet Components Valuation And Qualifying Accounts (Detail) (USD $)
In Thousands, unless otherwise specified

12 Months Ended

Dec. 31, 2014

Dec. 31, 2013

Dec. 31, 2012

Movement in Valuation Allowances and Reserves [Roll Forward]

Beginning balance January 1

$ 5,841

^[1]

$ 5,596

^[1]

$ 5,860

^[1]

Charged to costs and expenses, net of recoveries

2,643

^[1]

2,288

^[1]

653

^[1]

Utilization

(1,195)

^[1]

(1,921)

^[1]

(1,151)

^[1]

Currency translation and other

(328)

^[1]

(122)

^[1]

234

^[1]

Ending balance December 31

$ 6,961

^[1]

$ 5,841

^[1]

$ 5,596

^[1]

[1]	(1)Includes provision for doubtful accounts, sales returns and sales discounts granted to customers.

Goodwill and Intangible Assets - Additional Information (Detail) (USD $)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012	Oct. 31, 2014
Goodwill and Intangible Assets Disclosure [Line Items]
Reporting unit, percentage of fair value in excess of carrying amount				15.00%
Amortization of intangible assets	$ 43,187,000	$ 44,327,000	$ 41,485,000
Expected amortization expense, 2015	40,400,000
Expected amortization expense, 2016	38,500,000
Expected amortization expense, 2017	29,800,000
Expected amortization expense, 2018	18,900,000
Expected amortization expense, 2019	$ 14,900,000
IOP [Member] \| Banjo Trade Name
Goodwill and Intangible Assets Disclosure [Line Items]
Reporting unit, percentage of fair value in excess of carrying amount				40.00%

Schedule of Changes in Carrying Amount of Goodwill (Detail) (USD $) In Thousands, unless otherwise specified	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Goodwill and Intangible Assets Disclosure [Line Items]
Goodwill, gross			$ 1,522,358
Accumulated goodwill impairment losses			(200,631)
Goodwill
Beginning Balance	1,349,456	1,321,727
Acquisitions (Note 2)	7,711	17,994
Foreign currency translation	(35,890)	9,735
Ending Balance	1,321,277	1,349,456
Fluid & Metering Technologies
Goodwill and Intangible Assets Disclosure [Line Items]
Goodwill, gross			545,046
Accumulated goodwill impairment losses			(20,721)
Goodwill
Beginning Balance	528,044	524,325
Acquisitions (Note 2)	7,711	0
Foreign currency translation	(11,606)	3,719
Ending Balance	524,149	528,044
Health & Science Technologies
Goodwill and Intangible Assets Disclosure [Line Items]
Goodwill, gross			703,024
Accumulated goodwill impairment losses			(149,820)
Goodwill
Beginning Balance	571,675	553,204
Acquisitions (Note 2)	0	17,994
Foreign currency translation	(8,210)	477
Ending Balance	563,465	571,675
Fire & Safety/Diversified Products
Goodwill and Intangible Assets Disclosure [Line Items]
Goodwill, gross			274,288
Accumulated goodwill impairment losses			(30,090)
Goodwill
Beginning Balance	249,737	244,198
Acquisitions (Note 2)	0	0
Foreign currency translation	(16,074)	5,539
Ending Balance	$ 233,663	$ 249,737

Schedule of Gross Carrying Value and Accumulated Amortization for Each Major Class of Intangible Asset (Detail) (USD $) In Thousands, unless otherwise specified	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013
Goodwill And Intangible Assets [Line Items]
Amortized intangible assets - Gross Carrying Amount	$ 414,254	$ 444,184
Intangible assets - Gross Carrying Amount	476,354	506,284
Amortized intangible assets - Accumulated Amortization	(205,190)	(195,057)
Amortized intangible assets - Net	209,064	249,127
Intangible assets - Net	271,164	311,227
Patents
Goodwill And Intangible Assets [Line Items]
Amortized intangible assets - Gross Carrying Amount	10,016	10,673
Amortized intangible assets - Accumulated Amortization	(5,313)	(5,179)
Amortized intangible assets - Net	4,703	5,494
Amortized intangible assets - Weighted Average Life	11 years
Trade Names
Goodwill And Intangible Assets [Line Items]
Amortized intangible assets - Gross Carrying Amount	104,118	104,582
Amortized intangible assets - Accumulated Amortization	(32,881)	(28,310)
Amortized intangible assets - Net	71,237	76,272
Amortized intangible assets - Weighted Average Life	16 years
Customer Relationships
Goodwill And Intangible Assets [Line Items]
Amortized intangible assets - Gross Carrying Amount	222,486	242,674
Amortized intangible assets - Accumulated Amortization	(126,193)	(121,092)
Amortized intangible assets - Net	96,293	121,582
Amortized intangible assets - Weighted Average Life	11 years
Non-Compete Agreements
Goodwill And Intangible Assets [Line Items]
Amortized intangible assets - Gross Carrying Amount	840	3,769
Amortized intangible assets - Accumulated Amortization	(636)	(3,272)
Amortized intangible assets - Net	204	497
Amortized intangible assets - Weighted Average Life	3 years
Unpatented technology and other
Goodwill And Intangible Assets [Line Items]
Amortized intangible assets - Gross Carrying Amount	69,760	75,528
Amortized intangible assets - Accumulated Amortization	(35,165)	(32,905)
Amortized intangible assets - Net	34,595	42,623
Amortized intangible assets - Weighted Average Life	11 years
Other Amortizable Intangible Assets
Goodwill And Intangible Assets [Line Items]
Amortized intangible assets - Gross Carrying Amount	7,034	6,958
Amortized intangible assets - Accumulated Amortization	(5,002)	(4,299)
Amortized intangible assets - Net	2,032	2,659
Amortized intangible assets - Weighted Average Life	10 years
Banjo Trade Name
Goodwill And Intangible Assets [Line Items]
Indefinite lived intangible assets - Gross Carrying Amount	62,100	62,100
Indefinite lived intangible assets - Net	$ 62,100	$ 62,100

Borrowings - Additional Information (Detail)	12 Months Ended	1 Months Ended				1 Months Ended			1 Months Ended	12 Months Ended						12 Months Ended					12 Months Ended
Borrowings - Additional Information (Detail)	Dec. 31, 2014 USD ($)	Jun. 30, 2010 2.58% Senior Euro Notes EUR (€)	Dec. 31, 2014 2.58% Senior Euro Notes USD ($)	Jun. 09, 2010 2.58% Senior Euro Notes USD ($)	Dec. 31, 2014 2.58% Senior Euro Notes Minimum	Dec. 31, 2010 4.5 % Senior Notes USD ($)	Dec. 06, 2010 4.5 % Senior Notes USD ($)	Apr. 15, 2010 4.5 % Senior Notes	Dec. 31, 2011 4.2% Senior Notes USD ($)	Dec. 31, 2014 4.2% Senior Notes	Dec. 09, 2011 4.2% Senior Notes USD ($)	Dec. 31, 2014 Other Borrowings USD ($)	Dec. 31, 2013 Other Borrowings USD ($)	Dec. 31, 2014 Other Borrowings Minimum	Dec. 31, 2014 Other Borrowings Maximum	Dec. 31, 2014 Letters Of Credit USD ($)	Dec. 31, 2014 Swing line Loans USD ($)	Dec. 31, 2014 Revolving Credit Facility USD ($)	Dec. 31, 2013 Revolving Credit Facility USD ($)	Dec. 31, 2014 Revolving Credit Facility Minimum	Dec. 31, 2014 Revolving Credit Facility Maximum
Line of Credit Facility [Line Items]
Replaced credit facility due to expire	$ 600,000,000
Revolving facility principal amount	700,000,000															75,000,000	25,000,000
Revolving facility expiration date	Jun. 27, 2016
Aggregate commitments of designated borrowers under the Credit Facility	950,000,000
Applicable margin over LIBOR																		1.05%		0.875%	1.70%
Basis spread on variable rate																		0.20%
Leverage ratio																					3.25
Outstanding letters of credit																		7,400,000
Current borrowings under revolving facility																		115,000,000	10,000,000
Revolving Facility, amount available to borrow																		577,600,000
Principal amount of private placement		81,000,000							350,000,000
Stated interest rate				2.58%			4.50%	4.50%			4.20%			0.20%	1.30%
Debt instrument maturity period		Jun. 09, 2015				Dec. 15, 2020			Dec. 15, 2021
Debt instrument maximum amount outstanding				750,000,000
Long-term debt			98,500,000
Repayment, minimum percentage outstanding		5.00%
Debt instrument face amount							300,000,000
Net proceeds from debt offering							295,700,000				346,200,000
Debt offering initial discount							1,600,000				900,000
Debt offering underwriting commission						1,900,000			2,300,000
Estimated offering expenses						800,000			600,000
Contingent percentage of principal amount plus accrued and unpaid interest						101.00%				101.00%
Outstanding repayment of indebtedness						250,000,000			306,000,000
Other borrowings												$ 2,170,000	$ 4,271,000
Interest coverage ratio					3.0

Schedule of Borrowings (Detail) (USD $) In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013
Debt Instrument [Line Items]
Total borrowings	$ 863,952	$ 773,876
Less current portion	98,946	1,871
Total long-term borrowings	765,006	772,005
Other Borrowings
Debt Instrument [Line Items]
Other borrowings	2,170	4,271
Revolving Credit Facility
Debt Instrument [Line Items]
Revolving Facility	115,000	10,000
4.2% Senior Notes, due December 2021
Debt Instrument [Line Items]
Total borrowings	349,351	349,272
4.5% Senior Notes, due December 2020
Debt Instrument [Line Items]
Total borrowings	298,975	298,828
2.58% Senior Euro Notes, due June 2015
Debt Instrument [Line Items]
Total borrowings	$ 98,456	$ 111,505

- Definition

Carrying amount of long-term debt, net of unamortized discount or premium, including current and noncurrent amounts. Includes, but not limited to, notes payable, bonds payable, debentures, mortgage loans and commercial paper. Excludes capital lease obligations.

+ References+ Details

Schedule of Borrowings (Schedule of Debt, Narrative) (Detail)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
4.2% Senior Notes
Debt Instrument [Line Items]
Stated interest rate	4.20%		4.20%
Senior Notes, maturity date	Dec. 31, 2021	Dec. 31, 2021
4.5 % Senior Notes
Debt Instrument [Line Items]
Stated interest rate	4.50%
Senior Notes, maturity date	Dec. 31, 2020	Dec. 31, 2020
2.58% Senior Euro Notes
Debt Instrument [Line Items]
Stated interest rate	2.58%
Senior Notes, maturity date	Jun. 30, 2015	Jun. 30, 2015

Schedule of Maturities of Borrowings (Detail) (USD $) In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013
Debt Disclosure [Abstract]
2015	$ 98,946
2016	115,522
2017	1,056
2018	102
2019	0
Thereafter	648,326
Total borrowings	$ 863,952	$ 773,876

- Definition

+ References+ Details

Derivative Instruments - Additional Information (Detail) (USD $)	1 Months Ended		12 Months Ended				1 Months Ended				1 Months Ended			1 Months Ended
	Dec. 31, 2011	Sep. 30, 2011	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012	Sep. 29, 2011	Dec. 31, 2010 Interest Rate Exchange Agreement Expiring 2010	Apr. 30, 2010 Interest Rate Exchange Agreement Expiring 2010	Dec. 31, 2012 Interest Rate Exchange Agreement Expiring 2010	Apr. 15, 2010 Interest Rate Exchange Agreement Expiring 2010	Oct. 31, 2011 Interest Rate Exchange Agreement Expiring 2011	Jul. 31, 2011 Interest Rate Exchange Agreement Expiring 2011	Jul. 12, 2011 Interest Rate Exchange Agreement Expiring 2011	Dec. 31, 2011 Interest Rate Exchange Agreements Expiring 2011 And 2012	Dec. 31, 2013 Interest Rate Exchange Agreements Expiring 2011 And 2012	Dec. 06, 2010 4.5 % Senior Notes	Apr. 15, 2010 4.5 % Senior Notes
Derivative [Line Items]
Interest rate contract with notional amount						$ 350,000,000				$ 300,000,000			$ 350,000,000
Interest rate exchange agreement expiration date		Feb. 28, 2012						Dec. 31, 2010				Sep. 30, 2011
Interest rate on senior notes																4.50%	4.50%
Interest rate contract settlement amount							31,000,000				34,700,000
Future amortization interest expense over 10 year periods			1,723,000	1,703,000	1,685,000		31,000,000							37,900,000
Term of amortized interest expense, years							10 years
Interest rate									5.80%						5.30%
Additional interest rate contract settlement	4,000,000
Settlement amount interest rate contract															38,700,000
Interest rate settlement recognized as other expense														800,000
Amount to be recognized from hedged transactions within 12 months, approximate			$ (7,000,000)

Summary of Gain or Loss Recognized and Amounts and Location of Income or Expense and Gain or Loss Reclassified into Income for Interest Rate Contracts and Foreign Currency Contracts (Detail) (Interest rate agreements, Interest Expense, USD $) In Thousands, unless otherwise specified	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Interest rate agreements \| Interest Expense
Derivative [Line Items]
Loss Recognized in Other Comprehensive Income	$ 0	$ 0	$ 0
Income (Expense) and Gain (Loss) Reclassified into Income	$ (7,223)	$ (7,430)	$ (7,637)

Fair Value Measurements - Additional Information (Detail) (USD $) In Millions, unless otherwise specified	12 Months Ended						1 Months Ended
	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2014	Dec. 31, 2014 2.58% Senior Euro Notes	Dec. 31, 2014 Senior Notes	Dec. 31, 2014 4.2% Senior Notes	Nov. 30, 2013 Matcon	Apr. 30, 2013 Matcon	Jul. 20, 2012 Matcon
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Contingent consideration value as of opening balance sheet date									$ 8.4
Business acquisition, contingent consideration recognized to SG&A	1.4	2.7
Change in amount of contingent consideration, liability							1.1	3.8
Stated interest rate				2.58%	4.50%	4.20%
Fair value of our revolving facility and senior debt			898.7
Carrying value of our revolving facility and senior debt			$ 861.8

Schedule of Company Financial Assets and Liabilities at Fair Value on Recurring Basis (Detail) (USD $) In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Money market investments	$ 21,094	$ 27,871
Available for sale securities	4,513	3,255
Level 1
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Money market investments	21,094	27,871
Available for sale securities	4,513	3,255
Level 2
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Money market investments	0	0
Available for sale securities	0	0
Level 3
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Money market investments	0	0
Available for sale securities	$ 0	$ 0

Future Minimum Lease Payments For Operating And Capital Leases (Detail) (USD $) In Thousands, unless otherwise specified	Dec. 31, 2014
Commitments and Contingencies Disclosure [Abstract]
Future minimum lease payments for operating lease for year 2015	$ 16,206
Future minimum lease payments for operating lease for year 2016	11,534
Future minimum lease payments for operating lease for year 2017	8,168
Future minimum lease payments for operating lease for year 2018	6,100
Future minimum lease payments for operating lease for year 2019	3,481
Future minimum lease payments for operating lease for year 2020 and thereafter	7,005
Future minimum lease payments for operating lease total	52,494
Future minimum lease payments for capital lease for year 2015	499
Future minimum lease payments for capital lease for year 2016	536
Future minimum lease payments for capital lease for year 2017	1,058
Future minimum lease payments for capital lease for year 2018	102
Future minimum lease payments for capital lease for year 2019	0
Future minimum lease payments for capital lease for year 2020 and thereafter	0
Future minimum lease payments for capital lease total	$ 2,195

Roll Forward Of The Warranty Reserve (Detail) (USD $) In Thousands, unless otherwise specified	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Movement in Standard and Extended Product Warranty, Increase (Decrease) [Roll Forward]
Beginning balance January 1	$ 4,888	$ 4,875	$ 4,417
Provision for warranties	6,220	3,845	5,398
Claim settlements	(3,823)	(3,865)	(5,214)
Other adjustments, including acquisitions and currency translation	(89)	33	274
Ending balance December 31	$ 7,196	$ 4,888	$ 4,875

Common and Preferred Stock - Additional Information (Detail) (USD $) In Millions, except Share data, unless otherwise specified	0 Months Ended	12 Months Ended
	Nov. 06, 2014	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Equity [Abstract]
Increase in share repurchase authorized amount	$ 400.0
Purchase of common stock (in shares)		2,970,461	2,916,280	2,182,946
Purchase of common stock		222.5	167.5
Remaining authorized repurchase amount			$ 545
Common stock, shares authorized		150,000,000	150,000,000
Common stock, par value		$ 0.01	$ 0.01
Preferred stock, shares authorized		5,000,000	5,000,000
Preferred stock, par value		$ 0.01	$ 0.01
Preferred stock, shares issued		0	0

Income Taxes - Additional Information (Detail) (USD $)	12 Months Ended
Income Taxes - Additional Information (Detail) (USD $)	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Income Tax Disclosure [Line Items]
Undistributed earnings of non-U.S. subsidiaries	$ 683,000,000	$ 597,000,000
Foreign earnings repatriated	6,500,000	11,700,000	0
Incremental income tax expense	200,000	900,000
Accrued interest related to uncertain tax positions	700,000	500,000	700,000
Accrued penalties related to uncertain tax positions	300,000	200,000	500,000
Unrecognized tax benefits that would affect our effective tax rate	2,900,000	4,500,000	5,800,000
Unrecognized tax benefits possible change, estimated range, lower bound	0
Unrecognized tax benefits possible change, estimated range, upper bound	2,100,000
Loss carry forwards for U.S. federal	7,100,000	9,400,000
Loss carry forwards for non-U.S.	5,000,000	7,000,000
Loss carry forwards, subject to expiration amount	1,900,000
Loss carry forwards, not subject to expiration amount	2,200,000
Foreign capital loss carry forward	1,000,000	1,000,000
Deferred tax assets, capital loss carry forwards	200,000	200,000
Operating loss and credit carry forwards	23,700,000	22,400,000
Operating loss carry forwards, valuation allowance	$ 800,000	$ 700,000
Federal \| Minimum
Income Tax Disclosure [Line Items]
Operating loss carry forwards, expiration dates	Dec. 31, 2018
Federal \| Maximum
Income Tax Disclosure [Line Items]
Operating loss carry forwards, expiration dates	Dec. 31, 2031
State and Local Jurisdiction \| Minimum
Income Tax Disclosure [Line Items]
Operating loss carry forwards, expiration dates	Dec. 31, 2022
State and Local Jurisdiction \| Maximum
Income Tax Disclosure [Line Items]
Operating loss carry forwards, expiration dates	Dec. 31, 2034

Schedule Of Income Before Income Tax (Detail) (USD $) In Thousands, unless otherwise specified	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Income Tax Disclosure [Abstract]
Domestic	$ 275,334	$ 233,530	$ 65,738
Foreign	117,106	119,599	20,466
Income before income taxes	$ 392,440	$ 353,129	$ 86,204

Provision Benefit for Income Taxes (Detail) (USD $) In Thousands, unless otherwise specified	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Current
U.S.	$ 77,454	$ 59,707	$ 59,811
State and local	7,133	8,123	5,764
Foreign	37,060	33,240	20,228
Total current	121,647	101,070	85,803
Deferred
U.S.	(3,176)	1,500	(31,246)
State and local	(1,708)	(55)	(2,377)
Foreign	(3,709)	(4,601)	(3,606)
Total deferred	(8,593)	(3,156)	(37,229)
Total provision for income taxes	$ 113,054	$ 97,914	$ 48,574

Deferred Tax Assets Liabilities (Detail) (USD $) In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013
Income Tax Disclosure [Abstract]
Employee and retiree benefit plans	$ 38,871	$ 27,361
Depreciation and amortization	(172,766)	(175,894)
Inventories	11,229	9,627
Allowances and accruals	14,552	9,632
Interest rate exchange agreement	15,448	18,165
Other	4,626	4,636
Net deferred tax liabilities	$ (88,040)	$ (106,473)

Deferred Tax Assets and Liabilities Recognized in Company's Consolidated Balance Sheets (Detail) (USD $) In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013
Income Tax Disclosure [Abstract]
Deferred tax asset — other current assets	$ 39,305	$ 34,151
Deferred tax asset — other noncurrent assets	3,080	4,284
Total deferred tax assets	42,385	38,435
Deferred tax liability — accrued expenses	(57)	0
Noncurrent deferred tax liability — deferred income taxes	(130,368)	(144,908)
Total deferred tax liabilities	(130,425)	(144,908)
Net deferred tax liabilities	$ (88,040)	$ (106,473)

- Definition

Amount after allocation of valuation allowances of deferred tax asset attributable to deductible temporary differences and carryforwards expected to be realized or consumed within one year or operating cycle, if longer.

+ References+ Details

- Definition

Amount after allocation of valuation allowances of noncurrent deferred tax asset attributable to deductible temporary differences and carryforwards. Noncurrent assets are expected to be realized or consumed after one year (or the normal operating cycle, if longer).

+ References+ Details

- Definition

Amount of deferred tax liability attributable to taxable temporary differences, net of deferred tax asset attributable to deductible temporary differences and carryforwards net of valuation allowances expected to be realized or consumed within one year or operating cycle, if longer.

+ References+ Details

Computed Amount and Differences in Provision for Income Taxes (Detail) (USD $) In Thousands, unless otherwise specified	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Income Tax Disclosure [Abstract]
Pretax income	$ 392,440	$ 353,129	$ 86,204
Computed amount at statutory rate of 35%	137,354	123,595	30,171
State and local income tax (net of federal tax benefit)	4,875	4,382	2,406
Taxes on non-U.S. earnings-net of foreign tax credits	(9,378)	(9,683)	1,189
Effect of flow-through entities	(9,018)	(7,267)	(7,846)
Goodwill and intangible asset impairments	0	0	28,524
U.S. business tax credits	(1,680)	(1,516)	0
Domestic activities production deduction	(7,489)	(6,217)	(5,267)
Other	(1,610)	(5,380)	(603)
Total provision for income taxes	$ 113,054	$ 97,914	$ 48,574

Reconciliation of Beginning and Ending Amount of Unrecognized Tax Benefits (Detail) (USD $) In Thousands, unless otherwise specified	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]
Beginning balance January 1	$ 5,124	$ 6,506	$ 5,548
Gross increases for tax positions of prior years	834	1,357	3,017
Gross decreases for tax positions of prior years	(51)	(99)	(98)
Settlements	(2,057)	(1,219)	0
Lapse of statute of limitations	(231)	(1,421)	(1,961)
Ending balance December 31	$ 3,619	$ 5,124	$ 6,506

Business Segments and Geographic Information Schedule of Information on Company's Business Segments (Detail) (USD $)
In Thousands, unless otherwise specified

3 Months Ended

12 Months Ended

Dec. 31, 2014

Sep. 30, 2014

Jun. 30, 2014

Mar. 31, 2014

Dec. 31, 2013

Sep. 30, 2013

Jun. 30, 2013

Mar. 31, 2013

Dec. 31, 2014

Dec. 31, 2013

Dec. 31, 2012

Segment Reporting Information [Line Items]

Total segment sales

$ 2,147,767

$ 2,024,130

$ 1,954,258

Total net sales

523,899

533,179

546,693

543,996

520,620

490,617

518,445

494,448

2,147,767

2,024,130

1,954,258

Total operating income

94,454

110,847

112,088

113,835

103,873

97,369

99,559

94,712

431,224

^[1]

395,513

^[1]

128,218

^[1]

Interest expense

41,895

42,206

42,250

Other (income) expense - net

(3,111)

178

(236)

Income before taxes

392,440

353,129

86,204

Total assets

2,908,070

2,887,577

2,908,070

2,887,577

2,785,390

Total depreciation and amortization

76,907

^[2]

79,334

^[2]

78,312

^[2]

Total capital expenditures

47,997

31,536

35,520

Intersegment Eliminations

Segment Reporting Information [Line Items]

Total net sales

(6,591)

(7,383)

(11,318)

Corporate Office

Segment Reporting Information [Line Items]

Total operating income

(69,155)

^[1]

(55,180)

^[1]

(51,717)

^[1]

Total assets

269,836

264,540

269,836

264,540

170,493

Total depreciation and amortization

1,393

^[2]

1,353

^[2]

1,587

^[2]

Total capital expenditures

3,860

2,635

2,191

Fluid & Metering Technologies

Segment Reporting Information [Line Items]

Total segment sales

899,588

871,814

833,288

Total operating income

216,886

^[1],[3]

211,256

^[1],[3]

146,650

^[1],[3]

Total assets

1,026,238

1,025,352

1,026,238

1,025,352

1,023,143

Total depreciation and amortization

26,453

^[2]

27,633

^[2]

29,637

^[2]

Total capital expenditures

18,215

11,581

13,535

Fluid & Metering Technologies | External Customers

Segment Reporting Information [Line Items]

Total segment sales

898,530

870,720

829,320

Fluid & Metering Technologies | Intersegment Eliminations

Segment Reporting Information [Line Items]

Total segment sales

1,058

1,094

3,968

Health & Science Technologies

Segment Reporting Information [Line Items]

Total segment sales

752,021

714,650

695,235

Total operating income

152,999

^[1],[3]

136,707

^[1],[3]

(62,835)

^[1],[3]

Total assets

1,101,155

1,113,546

1,101,155

1,113,546

1,102,868

Total depreciation and amortization

42,478

^[2]

43,496

^[2]

39,981

^[2]

Total capital expenditures

19,161

12,280

13,140

Health & Science Technologies | External Customers

Segment Reporting Information [Line Items]

Total segment sales

747,186

708,940

689,574

Health & Science Technologies | Intersegment Eliminations

Segment Reporting Information [Line Items]

Total segment sales

4,835

5,710

5,661

Fire & Safety/Diversified Products

Segment Reporting Information [Line Items]

Total segment sales

502,749

445,049

437,053

Total operating income

130,494

^[1]

102,730

^[1]

96,120

^[1]

Total assets

510,841

484,139

510,841

484,139

488,886

Total depreciation and amortization

6,583

^[2]

6,852

^[2]

7,107

^[2]

Total capital expenditures

6,761

5,040

6,654

Fire & Safety/Diversified Products | External Customers

Segment Reporting Information [Line Items]

Total segment sales

502,051

444,470

435,364

Fire & Safety/Diversified Products | Intersegment Eliminations

Segment Reporting Information [Line Items]

Total segment sales

$ 698

$ 579

$ 1,689

[1]	Segment operating income (loss) excludes net unallocated corporate operating expenses.
[2]	Excludes amortization of debt issuance expenses.
[3]	Segment operating income (loss) includes asset impairment charges in 2012 of $27.7 million within the Fluid & Metering Technologies segment and $170.8 million within the Health & Science Technologies segment.

Business Segments and Geographic Information Schedule of Sales from External Customers and Long Lived Assets (Detail) (USD $) In Thousands, unless otherwise specified	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Revenues from External Customers and Long-Lived Assets [Line Items]
Total net sales	$ 2,147,767	$ 2,024,130	$ 1,954,258
Total long-lived assets — net	219,543	213,488	219,161
U.S.
Revenues from External Customers and Long-Lived Assets [Line Items]
Total net sales	1,068,758	983,791	963,137
Total long-lived assets — net	139,702	124,880	127,425
North America, Excluding United States [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Total net sales	95,917	88,213	93,010
Total long-lived assets — net	814	901	1,239
Europe
Revenues from External Customers and Long-Lived Assets [Line Items]
Total net sales	527,975	521,491	479,744
Total long-lived assets — net	54,088	63,018	64,137
Asia [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Total net sales	337,668	306,466	305,185
Total long-lived assets — net	24,912	24,590	26,320
Other Countries
Revenues from External Customers and Long-Lived Assets [Line Items]
Total net sales	117,449	124,169	113,182
Total long-lived assets — net	$ 27	$ 99	$ 40

Restructuring - Additional Information (Detail) (USD $)	12 Months Ended
Restructuring - Additional Information (Detail) (USD $)	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2014 2014 Initiative employee	Dec. 31, 2012 2011 Initiative	Dec. 31, 2011 2011 Initiative employee	Dec. 31, 2013 2011 Initiative
Restructuring Cost and Reserve [Line Items]
Pre-tax restructuring expenses related to restructuring initiative	$ 13,672,000	$ 0	$ 32,473,000	$ 13,672,000	$ 32,473,000	$ 32,500,000
Number of employees				217		491
Restructuring liabilities	$ 6,056,000	$ 0	$ 10,887,000				$ 0

- Definition

Amount of expenses associated with exit or disposal activities pursuant to an authorized plan. Excludes expenses related to a discontinued operation or an asset retirement obligation.

+ References+ Details

Schedule of Pre-Tax Restructuring Expenses by Segment (Detail) (USD $) In Thousands, unless otherwise specified	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2014 2014 Initiative	Dec. 31, 2014 2014 Initiative Fluid & Metering Technologies	Dec. 31, 2014 2014 Initiative Health & Science Technologies	Dec. 31, 2014 2014 Initiative Fire & Safety/Diversified Products	Dec. 31, 2014 2014 Initiative Corporate Office/Other	Dec. 31, 2012 2011 Initiative	Dec. 31, 2011 2011 Initiative	Dec. 31, 2012 2011 Initiative Fluid & Metering Technologies	Dec. 31, 2012 2011 Initiative Health & Science Technologies	Dec. 31, 2012 2011 Initiative Fire & Safety/Diversified Products	Dec. 31, 2012 2011 Initiative Corporate Office/Other
Restructuring Cost and Reserve [Line Items]
Severance Costs				$ 12,154	$ 6,413	$ 3,520	$ 908	$ 1,313	$ 23,519		$ 6,226	$ 11,223	$ 3,226	$ 2,844
Exit Costs and Asset Impairments				1,518	0	1,392	126	0	8,954		36	3,521	5,114	283
Total	$ 13,672	$ 0	$ 32,473	$ 13,672	$ 6,413	$ 4,912	$ 1,034	$ 1,313	$ 32,473	$ 32,500	$ 6,262	$ 14,744	$ 8,340	$ 3,127

- Definition

Amount of expenses associated with exit or disposal activities pursuant to an authorized plan. Includes, but is not limited to, one-time termination benefits, termination of an operating lease or other contract, consolidating or closing facilities, and relocating employees, and termination benefits associated with an ongoing benefit arrangement. Excludes expenses associated with special or contractual termination benefits, a discontinued operation or an asset retirement obligation.

+ References+ Details

- Definition

Amount of expenses associated with exit or disposal activities pursuant to an authorized plan. Excludes expenses related to a discontinued operation or an asset retirement obligation.

+ References+ Details

- Definition

Amount of expenses for special or contractual termination benefits provided to current employees involuntarily terminated under a benefit arrangement associated exit or disposal activities pursuant to an authorized plan. Excludes expenses related to one-time termination benefits, a discontinued operation or an asset retirement obligation.

+ References+ Details

Schedule of Restructuring Accruals Expenses (Detail) (USD $)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Restructuring Reserve [Roll Forward]
Beginning balance	$ 0	$ 10,887,000
Restructuring expenses	13,672,000	0	32,473,000
Payments, utilization and other	(7,616,000)	(10,887,000)
Ending balance	$ 6,056,000	$ 0	$ 10,887,000

- Definition

Amount of expenses associated with exit or disposal activities pursuant to an authorized plan. Excludes expenses related to a discontinued operation or an asset retirement obligation.

+ References+ Details

Share-Based Compensation - Additional Information (Detail) (USD $)	12 Months Ended
	Dec. 31, 2014 share-based_compensation_plan	Dec. 31, 2013	Dec. 31, 2012
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of share-based compensation plans	2
Number of shares authorized	10,600,000
Number of shares available for future issuance	2,300,000
Stock option exercisable life	10 years
Unvested shares, granted	100,000	200,000	200,000
Total intrinsic value of options exercised	$ 20,000,000	$ 34,300,000	$ 23,500,000
Proceeds from stock option exercises	17,161,000	35,306,000	45,771,000
Tax benefit realized for the tax deductions from stock options exercised	7,300,000	12,500,000	8,600,000
Share-based compensation expense	20,717,000	16,993,000	13,102,000
Share based compensation, accrued expenses	3,500,000	2,000,000
Share based compensation, other noncurrent liabilities	2,500,000	1,000,000
Award requisite service period	3 years
Non-Executive
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	4,100,000	3,600,000	2,300,000
Non-Employee Directors Cliff
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period of option	1 year
Unvested Share And Unvested Share Unit Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period of option	3 years
Performance Shares Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unvested shares, granted	91,030	91,030
Total unrecognized compensation cost	5,400,000
Weighted-average period of total unrecognized compensation cost, in years	1 year
Stock Option
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total unrecognized compensation cost	9,900,000
Weighted-average period of total unrecognized compensation cost, in years	1 year 4 months 24 days
Share-based compensation expense	6,826,000	6,268,000	6,292,000
Unvested Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unvested shares, granted	146,360
Total unrecognized compensation cost	9,400,000
Weighted-average period of total unrecognized compensation cost, in years	1 year
Share-based compensation expense	$ 10,670,000	$ 9,851,000	$ 6,810,000
Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Target award	0.00%
Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Target award	250.00%
Target payout	100.00%

Schedule of Weighted Average Option Fair Values and Assumptions (Detail) (USD $)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Weighted average fair value of grants	$ 19.52	$ 12.97	$ 11.40
Dividend yield	1.27%	1.57%	1.59%
Volatility	30.36%	30.92%	32.00%
Risk-free interest rate, minimum	0.12%	0.17%	0.17%
Risk-free interest rate, maximum	4.65%	4.12%	3.96%
Expected life (in years)	5 years 10 months 21 days	5 years 10 months 10 days	5 years 11 months 23 days

Schedule of Weighted Average Performance Share Units Fair Values and Assumptions (Detail) (USD $)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average fair value of grants	$ 19.52	$ 12.97	$ 11.40
Dividend yield	1.27%	1.57%	1.59%
Volatility	30.36%	30.92%	32.00%
Expected life (in years)	5 years 10 months 21 days	5 years 10 months 10 days	5 years 11 months 23 days
Performance Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average fair value of grants	$ 94.55	$ 59.58
Dividend yield	0.00%	0.00%
Volatility	26.41%	28.99%
Risk-free interest rate	0.65%	0.40%
Expected life (in years)	2 years 10 months 17 days	2 years 10 months 13 days

Schedule of Compensation Cost for Stock Options and Unvested Shares (Detail) (USD $) In Thousands, unless otherwise specified	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Compensation Related Costs Share Based Payments Disclosure [Line Items]
Total expense before income taxes	$ 20,717	$ 16,993	$ 13,102
Stock Option
Compensation Related Costs Share Based Payments Disclosure [Line Items]
Total expense before income taxes	6,826	6,268	6,292
Income tax benefit	(2,194)	(2,016)	(1,988)
Total expense after income taxes	4,632	4,252	4,304
Stock Option \| Cost Of Goods Sold
Compensation Related Costs Share Based Payments Disclosure [Line Items]
Total expense before income taxes	581	479	650
Stock Option \| Selling, general and administrative expenses
Compensation Related Costs Share Based Payments Disclosure [Line Items]
Total expense before income taxes	6,245	5,789	5,642
Unvested Shares
Compensation Related Costs Share Based Payments Disclosure [Line Items]
Total expense before income taxes	10,670	9,851	6,810
Income tax benefit	(2,233)	(2,296)	(1,682)
Total expense after income taxes	8,437	7,555	5,128
Unvested Shares \| Cost Of Goods Sold
Compensation Related Costs Share Based Payments Disclosure [Line Items]
Total expense before income taxes	1,753	1,380	991
Unvested Shares \| Selling, general and administrative expenses
Compensation Related Costs Share Based Payments Disclosure [Line Items]
Total expense before income taxes	$ 8,917	$ 8,471	$ 5,819

Compensation Cost for Performance Share Units (Details) (Performance Shares, USD $) In Thousands, unless otherwise specified	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Total expense before income taxes	$ 3,220	$ 873
Income tax benefit	(1,081)	(280)
Total expense after income taxes	2,139	593
Cost of goods sold
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Total expense before income taxes	0	0
Selling, general and administrative expenses
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Total expense before income taxes	$ 3,220	$ 873

Stock Options Activity (Detail) (USD $)	12 Months Ended
Stock Options Activity (Detail) (USD $)	Dec. 31, 2014	Dec. 31, 2013
Shares
Outstanding at January 1, 2014	2,516,618
Granted	514,905
Exercised	(489,047)
Forfeited	(163,917)
Outstanding at December 31, 2014	2,378,559	2,516,618
Vested and expected to vest at December 31, 2014	2,279,445
Exercisable at December 31, 2014	1,157,805
Weighted Average Price
Outstanding at January 1, 2014	$ 39.60
Granted	$ 72.77
Exercised	$ 34.59
Forfeited	$ 52.59
Outstanding at December 31, 2014	$ 46.91	$ 39.60
Vested and expected to vest at December 31, 2014	$ 46.24
Exercisable at December 31, 2014	$ 36.70
Weighted-Average Remaining Contractual Term
Weighted-Average Remaining Contractual Term	6 years 8 months 9 days	6 years 10 months 13 days
Vested and expected to vest at December 31, 2014	6 years 7 months 6 days
Exercisable at December 31, 2014	5 years 2 months 1 day
Aggregate Intrinsic Value
Outstanding at January 1, 2014	$ 86,200,655
Outstanding at December 31, 2014	73,561,785	86,200,655
Vested and expected to vest at December 31, 2014	72,026,247
Exercisable at December 31, 2014	$ 47,631,234

Unvested Share Activity (Detail) (USD $)	12 Months Ended
Unvested Share Activity (Detail) (USD $)	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Shares
Granted	100,000	200,000	200,000
Weighted-Average Grant Date Fair Value
Unvested at January 1, 2014	$ 50.33
Granted	$ 74.10
Vested	$ 45.10
Forfeited	$ 57.83
Unvested at December 31, 2014	$ 59.71	$ 50.33
Unvested Shares
Shares
Unvested at January 1, 2014	618,679
Granted	146,360
Vested	(215,576)
Forfeited	(70,799)
Unvested at December 31, 2014	478,664

Performance Share Unit Activity (Details) (USD $)	12 Months Ended
Performance Share Unit Activity (Details) (USD $)	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Shares
Granted	100,000	200,000	200,000
Weighted-Average Grant Date Fair Value
Unvested at January 1, 2014	$ 50.33
Granted	$ 74.10
Vested	$ 45.10
Forfeited	$ 57.83
Unvested at December 31, 2014	$ 59.71	$ 50.33
Performance Shares
Shares
Unvested at January 1, 2014	53,205
Granted	91,030	91,030
Vested	0
Forfeited	(8,695)
Unvested at December 31, 2014	135,540	53,205
Weighted-Average Grant Date Fair Value
Unvested at January 1, 2014	$ 59.98
Granted	$ 94.55
Vested	$ 0.00
Forfeited	$ 78.26
Unvested at December 31, 2014	$ 81.87	$ 59.98

Other Comprehensive Income (Loss) (Components of Other Comprehensive Income (Loss)) (Details) (USD $) In Thousands, unless otherwise specified	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Equity [Abstract]
Cumulative translation adjustment, Pre-tax	$ (77,024)	$ 13,572	$ 14,445
Cumulative translation adjustment, Tax	0	0	0
Cumulative translation adjustment, Net of Tax	(77,024)	13,572	14,445
Pension and other postretirement adjustments
Net gain (loss) arising during the year, Pre-tax	(26,424)	26,274	(16,607)
Net gain (loss) arising during the year, Tax	7,767	(9,859)	3,107
Net gain (loss) arising during the year, Net of Tax	(18,657)	16,415	(13,500)
Amortization/settlement recognition of net loss (gain), Pre-tax	3,113	8,599	7,801
Amortization/settlement recognition of net loss (gain), Tax	(915)	(3,226)	(1,460)
Amortization/settlement recognition of net loss (gain), Net of Tax	2,198	5,373	6,341
Pension and other postretirement adjustments, Pre-tax	(23,311)	34,873	(8,806)
Pension and other postretirement adjustments, Tax	6,852	(13,085)	1,647
Pension and other postretirement adjustments, Net of Tax	(16,459)	21,788	(7,159)
Reclassification adjustments for derivatives, Pre-tax	7,223	7,430	7,571
Reclassification adjustments for derivatives, Tax	(2,713)	(2,692)	(2,791)
Reclassification adjustments for derivatives, Net of tax	4,510	4,738	4,780
Total other comprehensive income (loss), Pre-tax	(93,112)	55,875	13,210
Total other comprehensive income (loss), Tax	4,139	(15,777)	(1,144)
Total other comprehensive income (loss), Net of Tax	$ (88,973)	$ 40,098	$ 12,066

Other Comprehensive Income (Loss) (Amounts Reclassified from Accumulated Other Comprehensive Income (Loss)) (Details) (USD $) In Thousands, unless otherwise specified	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Selling, general and administrative expenses	$ 504,419	$ 477,851	$ 444,490
Interest expense	41,895	42,206	42,250
Provision for income taxes	(113,054)	(97,914)	(48,574)
Reclassification out of Accumulated Other Comprehensive Income \| Pension and Other Postretirement Plans
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Selling, general and administrative expenses	3,113	8,599	7,801
Total before tax	3,113	8,599	7,801
Provision for income taxes	(915)	(3,226)	(1,460)
Total net of tax	2,198	5,373	6,341
Reclassification out of Accumulated Other Comprehensive Income \| Derivatives
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Interest expense	7,223	7,430	7,571
Total before tax	7,223	7,430	7,571
Provision for income taxes	(2,713)	(2,692)	(2,791)
Total net of tax	$ 4,510	$ 4,738	$ 4,780

Retirement Benefits - Additional Information (Detail) (USD $) In Millions, unless otherwise specified	12 Months Ended
	Dec. 31, 2014 employee	Dec. 31, 2013	Dec. 31, 2012
Defined Benefit Plan Disclosure [Line Items]
Accumulated benefit obligation for all defined benefit pension plans	$ 163.3	$ 143.5
Increase in pension plan obligations	4.9
Percentage of excess gains and losses over benefit obligation or market value of assets amortized	10.00%
Costs of defined contribution plans	9.1	8.4	7.9
Number of participants covering under multi employer pension plan	395
Costs of bargaining unit-sponsored multi-employer plans and defined contribution plans	1.0	1.1	1.0
Weighted average annual rate of increase in the per capita cost of covered health care benefits assumed	7.12%
Assumed decrease of weighted average health care cost trend rate	4.50%
Year that reaches assumed decrease of weighted average health care cost trend rate	2027
Increase in service and interest cost components of the net periodic benefit cost, as 1% increase in health care cost trend rates	0.1
Increase in accumulated postretirement benefit obligation, as 1% increase in health care cost trend rates	1.6
Decrease in service and interest cost components of the net periodic benefit cost, as 1% decrease in health care cost trend rates	0.1
Decrease in accumulated postretirement benefit obligation, as 1% decrease in health care cost trend rates	1.4
Future estimated benefit payments for year 2015	9.0
Future estimated benefit payments for year 2016	9.6
Future estimated benefit payments for year 2017	10.1
Future estimated benefit payments for year 2018	10.7
Future estimated benefit payments for year 2019	10.7
Future estimated benefit payments for years 2020 to 2025	54.0
Defined Contribution Plan
Defined Benefit Plan Disclosure [Line Items]
Defined contribution plan, expected contribution for next fiscal year	9.1
401k
Defined Benefit Plan Disclosure [Line Items]
Defined contribution plan, expected contribution for next fiscal year	8.0
Pension Plans
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, expected contribution for next fiscal year	1.6
Other Postretirement Benefit Plans
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, expected contribution for next fiscal year	$ 0.5
Equity Securities
Defined Benefit Plan Disclosure [Line Items]
Target allocation of fund assets in equities, minimum	40.00%
Target allocation of fund assets in equities, maximum	60.00%
Target allocation of fund assets in equities	50.00%
Debt Securities
Defined Benefit Plan Disclosure [Line Items]
Target allocation of fund assets in equities, minimum	40.00%
Target allocation of fund assets in equities, maximum	60.00%
Target allocation of fund assets in equities	50.00%

Reconciliation Of Changes In Benefit Obligations And Fair Value Of Plan Assets (Detail) (USD $) In Thousands, unless otherwise specified	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
CHANGE IN PLAN ASSETS
Fair value of plan assets at December 31	$ 101,916	$ 104,291
Other noncurrent liabilities	(90,584)	(67,777)
U.S. Plans
CHANGE IN BENEFIT OBLIGATION
Obligation at January 1	92,839	111,188
Service cost	1,162	1,526	1,756
Interest cost	4,037	3,766	4,247
Plan amendments	0	0
Benefits paid	(6,230)	(2,479)
Actuarial loss (gain)	10,540	(11,885)
Currency translation	0	0
Curtailments/settlements	(36)	(9,277)
Acquisition	0	0
Obligation at December 31	102,312	92,839	111,188
CHANGE IN PLAN ASSETS
Fair value of plan assets at January 1	81,957	74,578
Actual return on plan assets	2,385	14,303
Employer contributions	1,611	4,832
Benefits paid	(6,230)	(2,479)
Currency translation	0	0
Settlements	(36)	(9,277)
Other	0	0
Fair value of plan assets at December 31	79,687	81,957	74,578
Funded status at December 31	(22,625)	(10,882)
Current liabilities	(522)	(656)
Other noncurrent liabilities	(22,103)	(10,226)
Net liability at December 31	(22,625)	(10,882)
Non-U.S. Plans
CHANGE IN BENEFIT OBLIGATION
Obligation at January 1	60,471	56,555
Service cost	1,331	1,388	1,300
Interest cost	2,345	2,146	2,206
Plan amendments	(150)	0
Benefits paid	(2,955)	(1,957)
Actuarial loss (gain)	15,092	581
Currency translation	(6,646)	1,758
Curtailments/settlements	0	0
Acquisition	0	0
Obligation at December 31	69,488	60,471	56,555
CHANGE IN PLAN ASSETS
Fair value of plan assets at January 1	22,334	19,660
Actual return on plan assets	1,738	2,341
Employer contributions	2,424	1,840
Benefits paid	(2,955)	(1,957)
Currency translation	(1,389)	447
Settlements	0	3
Other	0	0
Fair value of plan assets at December 31	22,152	22,334	19,660
Funded status at December 31	(47,336)	(38,138)
Current liabilities	(805)	(995)
Other noncurrent liabilities	(46,531)	(37,143)
Net liability at December 31	(47,336)	(38,138)
Other Postretirement Benefit Plans
CHANGE IN BENEFIT OBLIGATION
Obligation at January 1	21,354	25,587
Service cost	714	968	763
Interest cost	932	906	922
Plan amendments	0	0
Benefits paid	(691)	(801)
Actuarial loss (gain)	728	(5,139)
Currency translation	(182)	(167)
Curtailments/settlements	0	0
Acquisition	0	0
Obligation at December 31	22,855	21,354	25,587
CHANGE IN PLAN ASSETS
Fair value of plan assets at January 1	0	0
Actual return on plan assets	0	0
Employer contributions	691	801
Benefits paid	(691)	(801)
Currency translation	0	0
Settlements	0	0
Other	0	0
Fair value of plan assets at December 31	0	0	0
Funded status at December 31	(22,855)	(21,354)
Current liabilities	(905)	(946)
Other noncurrent liabilities	(21,950)	(20,408)
Net liability at December 31	$ (22,855)	$ (21,354)

Weighted Average Assumptions Used in the Measurement Of Benefit Obligation (Detail)	Dec. 31, 2014	Dec. 31, 2013
U.S. Plans
Schedule of Benefit Obligations Weighted Average Assumptions [Line Items]
Discount rate	3.78%	4.61%
Rate of compensation increase	4.00%	4.00%
Non-U.S. Plans
Schedule of Benefit Obligations Weighted Average Assumptions [Line Items]
Discount rate	2.66%	4.03%
Rate of compensation increase	3.00%	3.14%

Pretax Amounts Recognized in Accumulated Other Comprehensive Income Loss (Detail) (USD $) In Thousands, unless otherwise specified	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013
U.S. Plans
Defined Benefit Plan Disclosure [Line Items]
Prior service cost (credit)	$ 86	$ 170
Net loss	34,337	22,854
Total	34,423	23,024
Net loss in current year	(13,585)
Prior service cost	0
Amortization of prior service cost (credit)	84
Amortization of net loss	2,102
Exchange rate effect on amounts in OCI	0
Total	(11,399)
Non-U.S. Plans
Defined Benefit Plan Disclosure [Line Items]
Prior service cost (credit)	(40)	312
Net loss	25,275	14,262
Total	25,235	14,574
Net loss in current year	(14,650)
Prior service cost	150
Amortization of prior service cost (credit)	188
Amortization of net loss	1,212
Exchange rate effect on amounts in OCI	2,439
Total	(10,661)
Other Postretirement Benefit Plans
Defined Benefit Plan Disclosure [Line Items]
Prior service cost (credit)	(1,580)	(1,951)
Net loss	655	(225)
Total	(925)	(2,176)
Net loss in current year	(730)
Prior service cost	0
Amortization of prior service cost (credit)	(371)
Amortization of net loss	(103)
Exchange rate effect on amounts in OCI	(47)
Total	$ (1,251)

Amounts in Accumulated Other Comprehensive Income Loss Expected to be Recognized As Components of Net Periodic Benefit Cost During 2012 (Detail) (USD $) In Thousands, unless otherwise specified	12 Months Ended
	Dec. 31, 2014
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Prior service cost (credit)	$ (329)
Net loss	4,984
Total	4,655
U.S. Plans
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Prior service cost (credit)	51
Net loss	3,130
Total	3,181
Non-U.S. Plans
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Prior service cost (credit)	(14)
Net loss	1,904
Total	1,890
Other Postretirement Benefit Plans
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Prior service cost (credit)	(366)
Net loss	(50)
Total	$ (416)

Components of Net Periodic Benefit Cost for Defined Benefit Plans and Other Postretirement Plans (Detail) (USD $) In Thousands, unless otherwise specified	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
U.S. Plans
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Service cost	$ 1,162	$ 1,526	$ 1,756
Interest cost	4,037	3,766	4,247
Expected return on plan assets	(5,430)	(5,318)	(4,687)
Net amortization	2,187	7,621	5,376
Net periodic benefit cost	1,956	7,595	6,692
Non-U.S. Plans
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Service cost	1,331	1,388	1,300
Interest cost	2,345	2,146	2,206
Expected return on plan assets	(1,297)	(1,055)	(1,035)
Net amortization	1,400	955	589
Net periodic benefit cost	3,779	3,434	3,060
Other Postretirement Benefit Plans
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Service cost	714	968	763
Interest cost	932	906	922
Net amortization	(474)	24	11
Net periodic benefit cost	$ 1,172	$ 1,898	$ 1,696

Weighted Average Assumptions Used to Determine Net Periodic Benefit Cost of Plans (Detail)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
U.S. Plans
Schedule of Benefit Obligations Weighted Average Assumptions [Line Items]
Discount rate	4.61%	3.56%	4.45%
Expected return on plan assets	7.00%	7.50%	8.00%
Rate of compensation increase	4.00%	3.94%	3.90%
Non-U.S. Plans
Schedule of Benefit Obligations Weighted Average Assumptions [Line Items]
Discount rate	4.03%	3.91%	4.68%
Expected return on plan assets	5.83%	5.53%	5.90%
Rate of compensation increase	3.14%	2.99%	2.96%

Unaudited Quarterly Results of Operations (Detail) (USD $)
In Thousands, except Per Share data, unless otherwise specified

3 Months Ended

12 Months Ended

Dec. 31, 2014

Sep. 30, 2014

Jun. 30, 2014

Mar. 31, 2014

Dec. 31, 2013

Sep. 30, 2013

Jun. 30, 2013

Mar. 31, 2013

Dec. 31, 2014

Dec. 31, 2013

Dec. 31, 2012

Quarterly Financial Information Disclosure [Abstract]

Net sales

$ 523,899

$ 533,179

$ 546,693

$ 543,996

$ 520,620

$ 490,617

$ 518,445

$ 494,448

$ 2,147,767

$ 2,024,130

$ 1,954,258

Gross profit

229,117

234,646

241,132

244,420

227,009

211,509

222,849

211,997

949,315

873,364

803,700

Operating income

94,454

110,847

112,088

113,835

103,873

97,369

99,559

94,712

431,224

^[1]

395,513

^[1]

128,218

^[1]

Net income

$ 61,620

$ 71,441

$ 71,777

$ 74,548

$ 67,555

$ 63,799

$ 62,561

$ 61,300

$ 279,386

$ 255,215

$ 37,630

Basic EPS

$ 0.78

$ 0.89

$ 0.92

$ 0.83

$ 0.78

$ 0.76

$ 0.74

$ 3.48

$ 3.11

$ 0.45

Diluted EPS

$ 0.77

$ 0.88

$ 0.91

$ 0.82

$ 0.78

$ 0.76

$ 0.74

$ 3.45

$ 3.09

$ 0.45

Basic weighted average shares outstanding

78,669

79,558

80,106

80,527

80,782

81,259

81,829

82,197

79,715

81,517

82,689

Diluted weighted average shares outstanding

79,632

80,561

81,149

81,575

81,854

82,218

82,734

83,152

80,728

82,489

83,641

[1]	Segment operating income (loss) excludes net unallocated corporate operating expenses.

- Definition

The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

+ References+ Details

- Definition

The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.

+ References+ Details

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References+ Details

Common and Preferred Stock	12 Months Ended
Common and Preferred Stock	Dec. 31, 2014
Equity [Abstract]
Common and Preferred Stock	Common and Preferred Stock On November 6, 2014 the Company’s Board of Directors approved an increase in the authorized level for repurchases of common stock by $400.0 million. Repurchases under the program will be funded with future cash flow generation and cash available under the Revolving Facility. During 2014 the Company purchased a total of 3.0 million shares at a cost of $222.5 million compared to 2.9 million shares purchased at a cost of $167.5 million in 2013. As of December 31, 2014, there was $545 million of repurchase authorization remaining. At December 31, 2014 and 2013 the Company had 150 million shares of authorized common stock, with a par value of $.01 per share and five million shares of authorized preferred stock with a par value of $.01 per share. No preferred stock was issued as of December 31, 2014 and 2013.

Business Segments and Geographic Information - Additional Information (Detail)	12 Months Ended
	Dec. 31, 2014 segment
Segment Reporting [Abstract]
Number of reportable business segments	3

Pension Plan Weighted Average Asset Allocations (Detail)	Dec. 31, 2014	Dec. 31, 2013
Schedule of Defined Benefit Plan Asset Allocation Targets [Line Items]
Defined benefit plan securities	100.00%	100.00%
Equity Securities
Schedule of Defined Benefit Plan Asset Allocation Targets [Line Items]
Defined benefit plan securities	51.00%	66.00%
Debt Securities
Schedule of Defined Benefit Plan Asset Allocation Targets [Line Items]
Defined benefit plan securities	49.00%	34.00%

Summary of Basis Used to Measure Defined Benefit Plans Assets at Fair Value (Detail) (USD $) In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, fair value of plan assets	$ 101,916	$ 104,291
U.S. Large Cap
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, fair value of plan assets	26,787	31,831
U.S. Small / Mid Cap
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, fair value of plan assets	7,950	8,783
International, Equity
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, fair value of plan assets	14,797	25,591
U.S. Intermediate
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, fair value of plan assets	14,906	18,715
U.S. Short Duration
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, fair value of plan assets	8,817	8,954
U.S. High Yield
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, fair value of plan assets	5,270	1,581
International, Fixed Income
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, fair value of plan assets	20,776	5,812
Insurance Contracts
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, fair value of plan assets	284	331
Cash and Cash Equivalents
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, fair value of plan assets	2,329	2,693
Level 1
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, fair value of plan assets	81,013	103,960
Level 1 \| U.S. Large Cap
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, fair value of plan assets	26,787	31,831
Level 1 \| U.S. Small / Mid Cap
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, fair value of plan assets	7,950	8,783
Level 1 \| International, Equity
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, fair value of plan assets	8,275	25,591
Level 1 \| U.S. Intermediate
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, fair value of plan assets	14,906	18,715
Level 1 \| U.S. Short Duration
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, fair value of plan assets	8,817	8,954
Level 1 \| U.S. High Yield
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, fair value of plan assets	5,270	1,581
Level 1 \| International, Fixed Income
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, fair value of plan assets	6,679	5,812
Level 1 \| Insurance Contracts
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, fair value of plan assets	0	0
Level 1 \| Cash and Cash Equivalents
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, fair value of plan assets	2,329	2,693
Level 2
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, fair value of plan assets	20,903	331
Level 2 \| U.S. Large Cap
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, fair value of plan assets	0	0
Level 2 \| U.S. Small / Mid Cap
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, fair value of plan assets	0	0
Level 2 \| International, Equity
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, fair value of plan assets	6,522	0
Level 2 \| U.S. Intermediate
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, fair value of plan assets	0	0
Level 2 \| U.S. Short Duration
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, fair value of plan assets	0	0
Level 2 \| U.S. High Yield
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, fair value of plan assets	0	0
Level 2 \| International, Fixed Income
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, fair value of plan assets	14,097	0
Level 2 \| Insurance Contracts
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, fair value of plan assets	284	331
Level 2 \| Cash and Cash Equivalents
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, fair value of plan assets	0	0
Level 3
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, fair value of plan assets	0	0
Level 3 \| U.S. Large Cap
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, fair value of plan assets	0	0
Level 3 \| U.S. Small / Mid Cap
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, fair value of plan assets	0	0
Level 3 \| International, Equity
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, fair value of plan assets	0	0
Level 3 \| U.S. Intermediate
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, fair value of plan assets	0	0
Level 3 \| U.S. Short Duration
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, fair value of plan assets	0	0
Level 3 \| U.S. High Yield
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, fair value of plan assets	0	0
Level 3 \| International, Fixed Income
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, fair value of plan assets	0	0
Level 3 \| Insurance Contracts
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, fair value of plan assets	0	0
Level 3 \| Cash and Cash Equivalents
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, fair value of plan assets	$ 0	$ 0