Document and Entity Information - USD ($)	12 Months Ended
Document and Entity Information - USD ($)	Dec. 31, 2017	Feb. 14, 2018	Jun. 30, 2017
Document Documentand Entity Information [Abstract]
Document Type	10-K
Amendment Flag	false
Document Period End Date	Dec. 31, 2017
Document Fiscal Year Focus	2017
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		76,535,263
Entity Public Float			$ 8,634,426,211

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Current assets
Cash and cash equivalents	$ 375,950	$ 235,964
Receivables — net	294,166	272,813
Inventories	259,724	252,859
Other current assets	74,203	61,085
Total current assets	1,004,043	822,721
Property, plant and equipment — net	258,350	247,816
Goodwill	1,704,158	1,632,592
Intangible assets — net	414,746	435,504
Other noncurrent assets	18,331	16,311
Total assets	3,399,628	3,154,944
Current liabilities
Trade accounts payable	147,067	128,933
Accrued expenses	184,705	152,852
Short-term borrowings	258	1,046
Dividends payable	28,945	26,327
Total current liabilities	360,975	309,158
Long-term borrowings	858,788	1,014,235
Deferred income taxes	137,638	166,427
Other noncurrent liabilities	155,685	121,230
Total liabilities	1,513,086	1,611,050
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: 90,162,211 shares at December 31, 2017 and 90,200,951 shares at December 31, 2016	902	902
Additional paid-in capital	716,906	697,213
Retained earnings	2,057,915	1,834,739
Treasury stock at cost: 13,468,675 shares at December 31, 2017 and 13,760,266 shares at December 31, 2016	(799,674)	(787,307)
Accumulated other comprehensive loss	(89,507)	(201,653)
Total shareholders’ equity	1,886,542	1,543,894
Total liabilities and shareholders’ equity	$ 3,399,628	$ 3,154,944

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Dec. 31, 2017	Dec. 31, 2016
Statement of Financial Position [Abstract]
Preferred stock, shares authorized (in shares)	5,000,000	5,000,000
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, shares issued (in shares)	0	0
Common stock, shares authorized (in shares)	150,000,000	150,000,000
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares issued (in shares)	90,162,211	90,200,951
Treasury stock, shares (in shares)	13,468,675	13,760,266

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Income Statement [Abstract]
Net sales	$ 2,287,312	$ 2,113,043	$ 2,020,668
Cost of sales	1,260,634	1,182,276	1,116,353
Gross profit	1,026,678	930,767	904,315
Selling, general and administrative expenses	524,940	492,398	474,156
Loss (gain) on sale of businesses - net	(9,273)	22,298	(18,070)
Restructuring expenses	8,455	3,674	11,239
Operating income	502,556	412,397	436,990
Other (income) expense - net	2,394	(1,731)	3,009
Interest expense	44,889	45,616	41,636
Income before income taxes	455,273	368,512	392,345
Provision for income taxes	118,016	97,403	109,538
Net income	$ 337,257	$ 271,109	$ 282,807
Earnings per common share:
Basic earnings per common share (in dollar per share)	$ 4.41	$ 3.57	$ 3.65
Diluted earnings per common share (in dollar per share)	$ 4.36	$ 3.53	$ 3.62
Share data:
Basic weighted average common shares outstanding (in shares)	76,232	75,803	77,126
Diluted weighted average common shares outstanding (in shares)	77,333	76,758	77,972

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Statement of Comprehensive Income [Abstract]
Net income	$ 337,257	$ 271,109	$ 282,807
Other comprehensive income (loss):
Reclassification adjustments for derivatives, net of tax	4,210	4,361	4,531
Pension and other postretirement adjustments, net of tax	(1,302)	3,049	9,415
Cumulative translation adjustment	110,421	(76,822)	(63,441)
Tax effect of reversal of indefinite assertion on certain intercompany loans	(3,932)	0	0
Reclassification of foreign currency translation to earnings upon sale of businesses	2,749	14,257	(4,725)
Other comprehensive income (loss)	112,146	(55,155)	(54,220)
Comprehensive income	$ 449,403	$ 215,954	$ 228,587

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, 2014	$ 1,486,451	$ 648,451	$ 1,483,821	$ (24,813)	$ (40,316)	$ (27,149)	$ (553,543)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	282,807		282,807
Cumulative translation adjustment	(68,166)			(68,166)
Net change in retirement obligations, net of tax	9,415				9,415
Net change on derivatives designated as cash flow hedges, net of tax	4,531					4,531
Issuance of shares of common stock from issuance of unvested shares, exercise of stock options and deferred compensation plans	24,482	14,545					9,937
Repurchase of common stock	(210,551)						(210,551)
Share-based compensation	17,529	17,529
Unvested shares surrendered for tax withholding	(3,259)						(3,259)
Cash dividends declared	(99,948)		(99,948)
Balance at Dec. 31, 2015	1,443,291	680,525	1,666,680	(92,979)	(30,901)	(22,618)	(757,416)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	271,109		271,109
Cumulative translation adjustment	(62,565)			(62,565)
Net change in retirement obligations, net of tax	3,049				3,049
Net change on derivatives designated as cash flow hedges, net of tax	4,361					4,361
Issuance of shares of common stock from issuance of unvested shares, exercise of stock options and deferred compensation plans	30,240	253					29,987
Repurchase of common stock	(54,950)						(54,950)
Share-based compensation	17,337	17,337
Unvested shares surrendered for tax withholding	(4,928)						(4,928)
Cash dividends declared	(103,050)		(103,050)
Balance at Dec. 31, 2016	1,543,894	698,115	1,834,739	(155,544)	(27,852)	(18,257)	(787,307)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	337,257		337,257
Cumulative translation adjustment	113,170			113,170
Net change in retirement obligations, net of tax	(1,302)				(1,302)
Net change on derivatives designated as cash flow hedges, net of tax	4,210					4,210
Issuance of shares of common stock from issuance of unvested shares, exercise of stock options and deferred compensation plans	22,935						22,935
Repurchase of common stock	(29,074)						(29,074)
Share-based compensation	19,693	19,693
Unvested shares surrendered for tax withholding	(6,228)						(6,228)
Tax effect of reversal of indefinite assertion on certain intercompany loans	(3,932)			(3,932)
Cash dividends declared	(114,081)		(114,081)
Balance at Dec. 31, 2017	$ 1,886,542	$ 717,808	$ 2,057,915	$ (46,306)	$ (29,154)	$ (14,047)	$ (799,674)

CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY (Parenthetical) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Statement of Stockholders' Equity [Abstract]
Tax expense on change in retirement obligations, tax	$ 239	$ 2,107	$ 3,842
Tax from change on derivatives designated as cash flow hedges, tax	$ 2,445	$ 2,490	$ 2,499
Issuance of common stock from issuance of unvested shares, exercise of stock options and deferred compensation plans (in shares)	557,591	594,919	685,501
Issuance of common stock from issuance of unvested shares, exercise of stock options and deferred compensation plans, tax	$ 6,027	$ 5,305	$ 3,794
Repurchase of common stock (in shares)	266,000	738,593	2,811,002
Cash dividends declared, per common share outstanding (in dollars per share)	$ 1.48	$ 1.36	$ 1.28

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Cash flows from operating activities
Net income	$ 337,257	$ 271,109	$ 282,807
Adjustments to reconcile net income to net cash provided by operating activities:
Loss (gain) on sale of fixed assets - net	315	(28)	(114)
Loss (gain) on sale of businesses - net	(9,273)	22,298	(18,070)
Asset impairments	0	205	795
Depreciation and amortization	38,314	37,854	35,694
Amortization of intangible assets	45,902	49,038	42,426
Amortization of debt issuance expenses	1,320	1,295	1,612
Share-based compensation expense	24,405	20,326	20,048
Deferred income taxes	(33,742)	(17,308)	(339)
Excess tax benefit from share-based compensation	0	0	(5,265)
Non-cash interest expense associated with forward starting swaps	6,655	6,851	7,030
Pension settlement	0	3,554	0
Changes in (net of the effect from acquisitions and divestitures):
Receivables	(15,803)	302	8,832
Inventories	760	32,747	4,557
Other current assets	(20,031)	(22,006)	(2,728)
Trade accounts payable	12,556	73	(2,828)
Accrued expenses	19,710	(5,470)	(16,672)
Other — net	24,408	(923)	2,536
Net cash flows provided by operating activities	432,753	399,917	360,321
Cash flows from investing activities
Purchases of property, plant and equipment	(43,858)	(38,242)	(43,776)
Acquisition of businesses, net of cash acquired	(38,161)	(510,001)	(195,013)
Proceeds from fixed asset disposals	6,011	49	894
Proceeds from sale of businesses, net of cash sold	21,795	39,064	27,677
Other — net	(533)	(69)	(273)
Net cash flows (used in) investing activities	(54,746)	(509,199)	(210,491)
Cash flows from financing activities
Borrowings under revolving credit facilities	33,000	501,529	414,032
Payment of 2.58% Senior Euro Notes	0	0	(88,420)
Payments under revolving credit facilities	(200,618)	(520,125)	(333,630)
Debt issuance costs	0	(246)	(1,739)
Dividends paid	(111,172)	(102,650)	(96,172)
Proceeds from stock option exercises	22,935	30,240	19,217
Excess tax benefit from share-based compensation	0	0	5,265
Purchases of common stock	(29,074)	(57,272)	(210,822)
Unvested shares surrendered for tax withholding	(6,228)	(4,928)	(3,259)
Settlement of foreign exchange contracts	13,736	0	0
Net cash flows provided by (used in) financing activities	(277,421)	46,548	(295,528)
Effect of exchange rate changes on cash and cash equivalents	39,400	(29,320)	(35,421)
Net increase (decrease) in cash	139,986	(92,054)	(181,119)
Cash and cash equivalents at beginning of year	235,964	328,018	509,137
Cash and cash equivalents at end of period	375,950	235,964	328,018
Cash paid for:
Interest	36,818	37,067	33,502
Income taxes - net	104,852	109,399	112,613
Significant non-cash activities:
Contingent consideration for acquisition	$ 0	0	4,705
3.2% Senior Notes, due June 2023
Cash flows from financing activities
Proceeds from issuance of Senior Notes		100,000	0
3.37% Senior Notes, due June 2025
Cash flows from financing activities
Proceeds from issuance of Senior Notes		$ 100,000	$ 0

Significant Accounting Policies

12 Months Ended

Dec. 31, 2017

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 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, optical filters and specialty medical equipment and devices for use in life science applications; precision-engineered equipment for dispensing, metering and mixing paints; and engineered products for industrial and commercial markets, including fire and rescue, transportation equipment, oil & 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 (“U.S. GAAP”) 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 Accounting Standards Codification (“ASC”) 605-25, Revenue Recognition-Multiple-Element Arrangements, 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 $15.8 million, $15.3 million and $16.1 million for 2017, 2016 and 2015, 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.

Accounts Receivable and Allowance for Doubtful Accounts

Accounts receivable are recorded at face amounts less an allowance for doubtful accounts. The Company maintains allowances for doubtful accounts for estimated losses as a result of customers’ 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 receivable that may not be collected in the future and records the appropriate provision.

Inventories

The Company states inventories at the lower of cost or net realizable value. 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, 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 if an event occurs or circumstances change that would more likely than not reduce the fair value of a long-lived asset below its carrying amount, as measured by comparing their net book value to the projected undiscounted future cash flows generated by their use. A long-lived asset impairment exists when the carrying amount of the asset exceeds its fair value. The amount and timing of impairment charges for these assets require the estimation of future cash flows to determine the fair value of the related assets. Impaired assets are recorded at their estimated fair value based on a discounted cash flow analysis. In 2017, 2016, and 2015, the Company concluded that certain long-lived assets had a fair value that was less than the carrying value of the assets, resulting in zero, $0.2 million and $0.8 million, respectively, of long-lived asset impairment charges.

Goodwill and Indefinite-Lived Intangible Assets

In accordance with ASC 350, Goodwill and Other Intangible Assets, the Company reviews the carrying value of goodwill and indefinite-lived intangible assets annually on October 31, or if an event occurs or circumstances change that would more likely than not reduce the fair value of a reporting unit below its carrying amount. The Company evaluates the recoverability of these assets based on the estimated fair value of each of the thirteen reporting units and the indefinite-lived intangible assets. 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 as a reduction of Long-term borrowings. These amounts are amortized over the life of the related borrowing and the related amortization is included in Interest expense.

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, restricted stock and performance share units.

ASC 260, Earnings per Share, concludes that all outstanding unvested share-based payment awards that contain rights to nonforfeitable dividends participate in undistributed earnings with common shareholders. If awards are considered participating securities, the Company is required to apply the two-class method of computing basic and diluted earnings per share. The Company has determined that its outstanding shares of restricted stock are participating securities. Accordingly, EPS was computed using the two-class method prescribed by ASC 260.

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



	2017	2016	2015
	(In thousands)
Basic weighted average common shares outstanding	76,232	75,803	77,126
Dilutive effect of stock options, restricted stock and performance share units	1,101	955	846
Diluted weighted average common shares outstanding	77,333	76,758	77,972

Options to purchase approximately zero, 0.9 million and 0.9 million shares of common stock in 2017, 2016 and 2015, 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, Compensation-Stock Compensation. 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	6 to 20 years
Unpatented technology and other	6 to 20 years

Research and Development Expenditures

Costs associated with engineering activities, including research and development, are expensed in the period incurred and are included in Cost of sales.

Total engineering expenses, which include research and development as well as application and support engineering, were $76.4 million, $68.8 million and $61.2 million in 2017, 2016 and 2015, respectively. Research and development expenses, which include costs associated with developing new products and major improvements to existing products, were $42.4 million, $39.4 million and $33.6 million in 2017, 2016 and 2015, respectively.

Foreign Currency

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 (gains) for the periods ending December 31, 2017, 2016 and 2015 were $20.5 million, $(6.2) million, and $(0.1) million, respectively, and are reported within Other (income) expense - net on the Consolidated Statements of Operations. Of the $20.5 million reported as foreign currency transaction losses for the period ending December 31, 2017, $20.2 million was due to intercompany loans established in conjunction with the SFC Koenig acquisition. See Note 6 for further discussion.

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.

Refer to Note 10 for further discussion on income taxes.

Concentration of Credit Risk

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

Recently Adopted Accounting Standards

In March 2017, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2017-07, Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost, which amends the requirements related to the income statement presentation of the components of net periodic benefit cost for a company’s sponsored defined benefit pension and other postretirement plans. Under this ASU, companies are required to disaggregate the current service cost component from the other components of net benefit cost and present it with other current compensation costs for related employees in the income statement and present the other components elsewhere in the income statement and outside of income from operations if such a subtotal is presented. This ASU also requires companies to disclose the income statement lines that contain the other components if they are not presented on appropriately described separate lines. In addition, only the service cost component of periodic net benefit cost is eligible for capitalization. The Company elected to early adopt this standard in the quarter ended March 31, 2017 as presenting the service cost within income from operations is more indicative of our current pension cost. The Company adopted this standard retrospectively and thus $6.6 million was reclassified from Selling, general and administrative expenses to Other (income) expense - net for the twelve months ended December 31, 2016, and $5.3 million was reclassified from Selling, general and administrative expenses to Other (income) expense - net for the twelve months ended December 31, 2015 to conform to current period presentation. The Company elected to apply the practical expedient that permits the use of previously disclosed service cost and other costs from the prior year’s pension and other postretirement benefit plan footnote in the comparative periods as appropriate estimates when retrospectively changing the presentation of these costs in the income statement. The Company included the required disclosures and the changes resulting from the adoption of this standard in Note 15.

In January 2017, the FASB issued ASU 2017-04, Simplifying the Test for Goodwill Impairment, which eliminates Step 2 from the goodwill impairment test. Under this ASU, if the carrying amount of a reporting unit exceeds its fair value, an impairment loss will be recognized in an amount equal to the excess, limited to the total amount of goodwill allocated to the reporting unit. This ASU also eliminated the requirements for any reporting unit with a zero or negative carrying amount to perform a qualitative assessment and, if it fails that qualitative test, to perform Step 2 of the goodwill impairment test. In addition, companies will be required to disclose the amount of goodwill allocated to each reporting unit with a zero or negative carrying amount of net assets. The Company early adopted this standard on January 1, 2017. The adoption of this standard did not have a material impact on our consolidated financial statements.

In July 2015, the FASB issued ASU 2015-11, Simplifying the Measurement of Inventory. Under this guidance, entities utilizing the FIFO or average cost method should measure inventory at the lower of cost or net realizable value, where net realizable value is defined as the estimated selling price in the ordinary course of business, less reasonably predictable costs of completion, disposal and transportation. The Company adopted this guidance on January 1, 2017. The adoption of this standard did not have a material impact on our consolidated financial statements.

New Accounting Pronouncements

In January 2017, the FASB issued ASU 2017-01, Clarifying the Definition of a Business, which clarifies the definition of a business and assists entities with evaluating whether transactions should be accounted for as acquisitions or disposals of assets or businesses. Under this guidance, when substantially all of the fair value of gross assets acquired is concentrated in a single asset or group of similar assets, the assets acquired would not represent a business. In addition, in order to be considered a business, an acquisition would have to include at a minimum an input and a substantive process that together significantly contribute to the ability to create an output. The amended guidance also narrows the definition of outputs by more closely aligning it with how outputs are described in FASB guidance for revenue recognition. This guidance is effective for interim and annual periods for the Company on January 1, 2018, with early adoption permitted. The Company does not believe the guidance will have a material impact on its consolidated financial statements.

In October 2016, the FASB issued ASU 2016-16, Intra-Entity Transfers of Assets Other Than Inventory, which amends ASC 740, Income Taxes. This ASU requires that the income tax consequences of an intra-entity asset transfer other than inventory are recognized at the time of the transfer. An entity will continue to recognize the income tax consequences of an intercompany transfer of inventory when the inventory is sold to a third party. The update is effective for financial statements issued for fiscal years beginning after December 15, 2017. The ASU requires adoption on a modified-retrospective basis through a cumulative adjustment to retained earnings at the beginning of the period of adoption. The Company is currently assessing the impact that adopting this new accounting standard will have on its consolidated financial statements and footnote disclosures.

In August 2016, the FASB issued ASU 2016-15, Classification of Certain Cash Receipts and Cash Payments (a consensus of the FASB Emerging Issues Task Force). This ASU addresses the following eight specific cash flow issues: Debt prepayment or debt extinguishment costs; settlement of zero-coupon debt instruments or other debt instruments with coupon interest rates that are insignificant in relation to the effective interest rate of the borrowing; contingent consideration payments made after a business combination; proceeds from the settlement of insurance claims; proceeds from the settlement of corporate-owned life insurance policies (including bank-owned life insurance policies); distributions received from equity method investees; beneficial interests in securitization transactions; and separately identifiable cash flows and application of the predominance principle. This standard is effective for fiscal years beginning after December 15, 2017. The Company does not believe the guidance will have a material impact on our consolidated financial statements.

In February 2016, the FASB issued ASU 2016-02, Leases, which sets out the principles for the recognition, measurement, presentation and disclosure of leases for both parties to a contract (i.e. lessees and lessors). The standard introduces a new lessee model that will require most leases to be recorded on the balance sheet and eliminates the required use of bright line tests in current U.S. GAAP for determining lease classification. The new standard requires lessors to account for leases using an approach that is substantially equivalent to existing guidance for sales-type leases, direct financing leases and operating leases. This standard is effective for fiscal years beginning after December 15, 2018 and interim periods within those fiscal years. Companies are permitted to adopt the standard early and a modified retrospective application is permitted. The new guidance requires adoption on a retrospective basis unless it is impracticable to apply, in which case the company would be required to apply the amendments prospectively as of the earliest date practicable. The Company is currently evaluating the impact of adopting the new guidance on our consolidated financial statements.

In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers, which will replace numerous requirements in U.S. GAAP, including industry-specific requirements, and provide companies with a new five-step model for recognizing revenue from contracts with customers. Under ASU 2014-09, an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. This ASU also requires disclosures sufficient to enable users to understand the nature, amount, timing, and uncertainty of revenue and cash flows arising from contracts with customers, including qualitative and quantitative disclosures about contracts with customers, significant judgments and changes in judgments, and assets recognized from the costs to obtain or fulfill a contract. This standard is effective for fiscal years beginning after December 15, 2017, using either of the following transition methods: (i) a full retrospective approach reflecting the application of the standard in each prior reporting period with the option to elect certain practical expedients, or (ii) a retrospective approach with the cumulative effect of initially adopting ASU 2014-09 recognized at the date of adoption. The FASB has also issued the following standards which clarify ASU 2014-09 and have the same effective date as the original standard: ASU 2016-08, Revenue from Contracts with Customers: Principal versus Agent Considerations (Reporting Revenue Gross versus Net); ASU 2016-10, Revenue from Contracts with Customers: Identifying Performance Obligations and Licensing; ASU 2016-12, Revenue from Contracts with Customers: Narrow-Scope Improvements and Practical Expedients; and ASU 2016-20, Technical Corrections and Improvements to Topic 606, Revenue from Contracts with Customers.

In 2016, we established an implementation team and analyzed the impact of the standard by surveying business units and reviewing contracts to identify potential differences that may result from applying the requirements of the new standard. We have completed our contract reviews. The contract reviews generally supported the recognition of revenue at a point in time, which is consistent with the current revenue recognition model used by most of our business units. As a result, we expect revenue recognition to remain substantially unchanged under the new standard. For our business units that currently recognize revenue under a percentage of completion model, we also expect revenue recognition to remain substantially unchanged as the contract reviews supported the recognition of revenue over time. The implementation team has reported these findings to the Audit Committee. The Company has implemented the appropriate changes to its processes, systems and controls to comply with the new guidance and is currently evaluating new disclosure requirements. The Company expects to adopt the standard in 2018 using the modified retrospective method and does not expect the adoption to have an impact on our consolidated financial statements.

Acquisitions and Divestitures

12 Months Ended

Dec. 31, 2017

Business Combinations and Dispositions [Abstract]

Acquisitions and Divestitures

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 Company’s 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 the aggregate.

2017 Acquisition

On December 8, 2017, the Company acquired the stock of thinXXS Microtechnology AG (“thinXXS”), a leader in the design, manufacture, and sale of microfluidic components serving the point of care, veterinary, and life science markets. The business was acquired to complement our existing CiDRA Precision Services business and expand on our microfluidic and nanofluidic capabilities. Headquartered in Zweibrücken, Germany, thinXXS operates in our Health & Science Technologies segment. thinXXS was acquired for cash consideration of $38.2 million and the assumption of $1.2 million of debt. The purchase price was funded with cash on hand. Goodwill and intangible assets recognized as part of the transaction were $23.9 million and $11.8 million, respectively. The goodwill is not deductible for tax purposes.

The Company made an initial allocation of the purchase price for the thinXXS acquisition as of the acquisition date based on its understanding of the fair value of the acquired assets and assumed liabilities. These nonrecurring fair value measurements are classified as Level 3 in the fair value hierarchy. As the Company obtains additional information about these assets and liabilities, including tangible and intangible asset appraisals, and learns more about the newly acquired business, we will refine the estimates of fair value and more accurately allocate the purchase price. Only items identified as of the acquisition date are considered for subsequent adjustment. The Company will make appropriate adjustments to the purchase price allocation prior to the completion of the measurement period, as required.

The Company incurred $1.3 million of acquisition-related transaction costs in 2017. These costs were recorded in Selling, general and administrative expenses and were related to completed transactions, pending transactions and potential transactions, including transactions that ultimately were not completed.

2016 Acquisitions

On March 16, 2016, the Company acquired the stock of Akron Brass Holding Corporation (“Akron Brass”), a producer of a large array of engineered life–safety products for the safety and emergency response markets, which includes apparatus valves, monitors, nozzles, specialty lighting, electronic vehicle–control systems and firefighting hand tools. The business was acquired to complement and create synergies with our existing Hale, Class 1, and Godiva businesses. Headquartered in Wooster, Ohio, Akron Brass operates in our Fire & Safety/Diversified Products segment. Akron Brass was acquired for cash consideration of $221.4 million. The purchase price was funded with borrowings under the Company’s revolving facilities. Goodwill and intangible assets recognized as part of the transaction were $124.6 million and $90.4 million, respectively. The goodwill is not deductible for tax purposes.

On July 1, 2016, the Company acquired the stock of AWG Fittings GmbH (“AWG Fittings”), a producer of engineered products for the safety and emergency response markets, including valves, monitors and nozzles. The business was acquired to complement and create synergies with our existing Hale, Class 1, Godiva and Akron Brass businesses. Headquartered in Ballendorf, Germany, AWG Fittings operates in our Fire & Safety/Diversified Products segment. AWG Fittings was acquired for cash consideration of $47.5 million (€42.8 million). The purchase price was funded with cash on hand. Goodwill and intangible assets recognized as part of the transaction were $22.1 million and $10.3 million, respectively. The goodwill is not deductible for tax purposes.

On August 31, 2016, the Company acquired the stock of SFC Koenig AG (“SFC Koenig”), a producer of highly engineered expanders and check valves for critical applications across the transportation, hydraulic, aviation and medical markets. Headquartered in Dietikon, Switzerland, SFC Koenig operates in our Health & Science Technologies segment. SFC Koenig was acquired for cash consideration of $241.1 million (€215.9 million). The purchase price was funded with cash on hand and borrowings under the Company’s revolving facilities. Goodwill and intangible assets recognized as part of the transaction were $141.3 million and $117.0 million, respectively. The goodwill is not deductible for tax purposes.

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



	Akron Brass			AWG Fittings			SFC Koenig			Total
(In thousands)
Accounts receivable	$	14,523		$	5,867		$	9,190		$	29,580
Inventory	29,157			11,766			20,639			61,562
Other assets, net of cash acquired	446			565			4,501			5,512
Property, plant and equipment	12,195			6,595			4,637			23,427
Goodwill	124,643			22,055			141,298			287,996
Intangible assets	90,400			10,279			116,998			217,677
Deferred income taxes	—			3,928			—			3,928
Total assets acquired	271,364			61,055			297,263			629,682
Current liabilities	(7,081		)	(5,117		)	(11,704		)	(23,902		)
Deferred income taxes	(36,439		)	—			(36,168		)	(72,607		)
Other noncurrent liabilities	(6,445		)	(8,444		)	(8,283		)	(23,172		)
Net assets acquired	$	221,399		$	47,494		$	241,108		$	510,001

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

Of the $217.7 million of acquired intangible assets, $28.8 million was assigned to the Akron Brass trade name and is not subject to amortization. The acquired intangible assets and weighted average amortization periods are as follows:



(In thousands, except weighted average life)	Total		Weighted Average Life
Trade names	$	14,078	15
Customer relationships	134,519		13
Unpatented technology	40,280		13
Amortized intangible assets	188,877
Indefinite lived - Akron Brass trade name	28,800
Total acquired intangible assets	$	217,677

The Company incurred $4.7 million of acquisition-related transaction costs in 2016. These costs were recorded in Selling, general and administrative expenses and were related to completed transactions, pending transactions and potential transactions, including transactions that ultimately were not completed. The Company also incurred $14.7 million of non-cash acquisition fair value inventory step-up charges associated with the completed 2016 acquisitions. These charges were recorded in Cost of sales.

2015 Acquisitions

On May 29, 2015, the Company acquired the stock of Novotema, SpA (“Novotema”), a leader in the design, manufacture and sale of specialty sealing solutions for use in the building products, gas control, transportation, industrial and water markets. The business was acquired to complement and create synergies with our existing Sealing Solutions platform. Located in Villongo, Italy, Novotema operates in our Health & Science Technologies segment. Novotema was acquired for cash consideration of $61.1 million (€56 million). The entire purchase price was funded with cash on hand. Goodwill and intangible assets recognized as part of this transaction were $34.3 million and $20.0 million, respectively. The $34.3 million of goodwill is not deductible for tax purposes.

On June 10, 2015, the Company acquired the stock of Alfa Valvole, S.r.l (“Alfa Valvole”), a leader in the design, manufacture and sale of specialty valve products for use in the chemical, petro-chemical, energy and sanitary markets. The business was acquired to expand our valve capabilities. Located in Casorezzo, Italy, Alfa Valvole operates in our Fluid & Metering Technologies segment. Alfa Valvole was acquired for cash consideration of $112.6 million (€99.8 million). The entire purchase price was funded with cash on hand. Goodwill and intangible assets recognized as part of this transaction were $69.6 million and $32.1 million, respectively. The $69.6 million of goodwill is not deductible for tax purposes.

On July 1, 2015, the Company acquired the membership interests of CiDRA Precision Services, LLC (“CPS” or “CiDRA Precision Services”), a leader in the design, manufacture and sale of microfluidic components serving the life science, health and industrial markets. The business was acquired to provide a critical building block to our emerging microfluidic and nanofluidic capabilities. Located in Wallingford, Connecticut, CPS operates in our Health & Science Technologies segment. CPS was acquired for an aggregate purchase price of $24.2 million, consisting of $19.5 million in cash and contingent consideration valued at $4.7 million as of the opening balance sheet date. The contingent consideration was based on the achievement of financial objectives during the 12-month period following the close. Based on potential outcomes, the undiscounted amount of all the future payments that the Company could have been required to make under the contingent consideration arrangement was between $0 and $5.5 million. During the six months ended June 30, 2016, the Company re-evaluated the contingent consideration arrangement and fully reversed the $4.7 million liability based on CPS’s actual operating results from July 1, 2015 to June 30, 2016. The $4.7 million reversal was recognized as a benefit within Selling, general and administrative expenses, of which $3.7 million was recognized in March 2016 and the remaining $1.0 million was recognized in June 2016. The entire purchase price was funded with cash on hand. Goodwill and intangible assets recognized as part of this transaction were $9.7 million and $12.3 million, respectively. The $9.7 million of goodwill is deductible for tax purposes.

On December 1, 2015, the Company acquired the assets of a complementary product line within our Fluid & Metering Technologies segment. The purchase price and goodwill associated with this transaction were $1.9 million and $0.7 million, respectively.

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



	Novotema			Alfa Valvole			CPS			Other		Total
(In thousands)
Accounts receivable	$	8,029		$	13,487		$	945		$	—	$	22,461
Inventory	2,886			11,036			442			1,102		15,466
Other assets, net of cash acquired	1,866			3,367			79			—		5,312
Property, plant and equipment	11,844			8,395			1,105			—		21,344
Goodwill	34,316			69,568			9,739			748		114,371
Intangible assets	20,011			32,058			12,290			—		64,359
Total assets acquired	78,952			137,911			24,600			1,850		243,313
Current liabilities	(7,760		)	(11,279		)	(420		)	—		(19,459		)
Deferred income taxes	(7,803		)	(12,622		)	—			—		(20,425		)
Other noncurrent liabilities	(2,291		)	(1,420		)	—			—		(3,711		)
Net assets acquired	$	61,098		$	112,590		$	24,180		$	1,850	$	199,718

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



(In thousands, except weighted average life)	Total		Weighted Average Life
Trade names	$	9,247	15
Customer relationships	44,401		12
Unpatented technology	10,711		8
Total acquired intangible assets	$	64,359

The Company incurred $2.6 million of acquisition-related transaction costs in 2015. 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 also incurred $3.4 million of non-cash acquisition fair value inventory charges in 2015. These charges were recorded in Cost of sales.

Divestitures

The Company periodically reviews its operations for businesses which may no longer be aligned with its strategic objectives and focuses on core business and customers. Any resulting gain or loss recognized due to divestitures is recorded within Loss (gain) on sale of businesses - net. The Company concluded that none of the divestitures that took place during the years ended December 31, 2017, 2016 and 2015 met the new criteria for reporting discontinued operations.

On October 31, 2017, the Company completed the sale of its Faure Herman subsidiary for $21.8 million in cash, resulting in a pre-tax gain on the sale of $9.3 million. There was no income tax expense associated with this transaction. The results of Faure Herman were reported within the Fluid & Metering Technologies segment and generated $14.1 million of revenues in 2017 through the date of sale.

On July 29, 2016, the Company completed the sale of its Hydra-Stop product line for $15.0 million in cash, resulting in a pre-tax gain on the sale of $5.8 million. In addition, the Company earned $1.0 million for the achievement of 2016 net sales objectives, which represents the maximum earn out for 2016, and the Company can earn an additional $1.0 million if 2017 net sales objectives are achieved. The Company recorded $2.8 million of income tax expense associated with this transaction during the year ended December 31, 2016. The results of Hydra-Stop were reported within the Fluid & Metering Technologies segment and generated $7.5 million of revenues in 2016 through the date of sale.

On September 9, 2016, the Company completed the sale of its Melles Griot KK (“CVI Japan”) subsidiary for $17.5 million in cash, resulting in a pre-tax loss on the sale of $7.9 million. The Company recorded $3.4 million of income tax benefit associated with this transaction during the year ended December 31, 2016. The results of CVI Japan were reported within the Health & Science Technologies segment and generated $13.1 million of revenues in 2016 through the date of sale.

On October 10, 2016, the Company completed the sale of its IETG and 40Seven subsidiaries for $2.7 million in cash, resulting in a pre-tax loss on the sale of $4.2 million. There was no income tax impact associated with this transaction. The results of IETG and 40Seven were reported within the Fluid & Metering Technologies segment and generated $8.3 million of revenues in 2016 through the date of sale.

On December 30, 2016, the Company completed the sale of its Korea Electro-Optics Co., Ltd. (“CVI Korea”) subsidiary for $3.8 million in cash, resulting in a pre-tax loss on the sale of $16.0 million. The Company recorded $9.1 million of income tax benefit associated with this transaction during the year ended December 31, 2016. The results of CVI Korea were reported within the Health & Science Technologies segment and generated $11.7 million of revenues in 2016 through the date of sale.

On July 31, 2015, the Company completed the sale of its Ismatec product line for $27.7 million in cash, resulting in a pre-tax gain on the sale of $18.1 million. The Company recorded $4.8 million of income tax expense associated with this transaction during the year ended December 31, 2015. The results of Ismatec were reported in the Health & Science Technologies segment and generated $5.3 million of revenues in 2015 through the date of sale.

Balance Sheet Components

12 Months Ended

Dec. 31, 2017

Additional Financial Information Disclosure [Abstract]

Balance Sheet Components



	December 31,
	2017		2016
	(In thousands)
RECEIVABLES
Customers	$	297,796	$	275,250
Other	4,134		5,641
Total	301,930		280,891
Less allowance for doubtful accounts	7,764		8,078
Total receivables — net	$	294,166	$	272,813
INVENTORIES
Raw materials and components parts	$	169,676	$	154,278
Work in process	33,668		34,832
Finished goods	56,380		63,749
Total	$	259,724	$	252,859
PROPERTY, PLANT AND EQUIPMENT
Land and improvements	$	32,984	$	33,883
Buildings and improvements	175,467		169,261
Machinery, equipment and other	356,728		328,779
Office and transportation equipment	96,541		98,355
Construction in progress	14,715		10,373
Total	676,435		640,651
Less accumulated depreciation and amortization	418,085		392,835
Total property, plant and equipment — net	$	258,350	$	247,816
ACCRUED EXPENSES
Payroll and related items	$	75,869	$	67,600
Management incentive compensation	24,320		16,339
Income taxes payable	28,033		8,808
Insurance	9,424		9,416
Warranty	6,281		5,628
Deferred revenue	11,031		12,607
Restructuring	4,180		3,893
Liability for uncertain tax positions	1,745		1,366
Accrued interest	1,759		1,663
Other	22,063		25,532
Total accrued expenses	$	184,705	$	152,852
OTHER NONCURRENT LIABILITIES
Pension and retiree medical obligations	$	99,646	$	93,604
Transition tax payable	27,877		—
Liability for uncertain tax positions	1,047		2,623
Deferred revenue	3,297		2,442
Other	23,818		22,561
Total other noncurrent liabilities	$	155,685	$	121,230

The valuation and qualifying account activity for the years ended December 31, 2017, 2016 and 2015 is as follows:



	2017			2016			2015
	(In thousands)
ALLOWANCE FOR DOUBTFUL ACCOUNTS ⁽¹⁾
Beginning balance January 1	$	8,078		$	7,812		$	6,961
Charged to costs and expenses, net of recoveries	720			1,425			1,556
Utilization	(1,418		)	(1,585		)	(1,009		)
Currency translation and other	384			426			304
Ending balance December 31	$	7,764		$	8,078		$	7,812


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

Goodwill and Intangible Assets

12 Months Ended

Dec. 31, 2017

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets

The changes in the carrying amount of goodwill for 2017 and 2016, by reportable business segment, were as follows:



	Fluid & Metering Technologies			Health & Science Technologies			Fire & Safety/ Diversified Products			Total
	(In thousands)
Goodwill	$	605,491		$	740,425		$	251,244		$	1,597,160
Accumulated goodwill impairment losses	(20,721		)	(149,820		)	(30,090		)	(200,631		)
Balance at January 1, 2016	584,770			590,605			221,154			1,396,529
Foreign currency translation	(5,951		)	(23,559		)	(7,972		)	(37,482		)
Acquisitions	—			143,719			146,674			290,393
Disposition of businesses	(3,759		)	(12,013		)	—			(15,772		)
Acquisition adjustments	(1,623		)	547			—			(1,076		)
Balance at December 31, 2016	573,437			699,299			359,856			1,632,592
Foreign currency translation	15,748			19,225			18,206			53,179
Acquisitions	—			23,929			—			23,929
Disposition of business	(3,121		)	—			—			(3,121		)
Acquisition adjustments	—			(2,421		)	—			(2,421		)
Balance at December 31, 2017	$	586,064		$	740,032		$	378,062		$	1,704,158

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 a reporting unit below its carrying amount. 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, 2017, the Company’s annual impairment date. In assessing the fair value of the reporting units, the Company considers both the market approach and the income approach. Under the market approach, the fair value of the reporting unit is determined by the respective trailing twelve month EBITDA and the forward looking 2018 EBITDA (50% each), based on multiples of comparable public companies. The market approach is dependent on a number of significant management assumptions including forecasted EBITDA and selected market multiples. Under the income approach, the fair value of the reporting unit is determined 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 rates and discount rates. Weighting was equally attributed to both the market and the income approaches (50% each) in arriving at the fair value of the reporting units.

In 2017 and 2016, there were no events that occurred or circumstances that changed that would have required a review other than as of our annual test date.

The following table provides the gross carrying value and accumulated amortization for each major class of intangible asset at December 31, 2017 and 2016:



	At December 31, 2017								At December 31, 2016
	Gross Carrying Amount		Accumulated Amortization			Net		Weighted Average Life	Gross Carrying Amount		Accumulated Amortization			Net
			(In thousands)								(In thousands)
Amortized intangible assets:
Patents	$	9,633	$	(7,143	)	$	2,490	11	$	9,856	$	(6,635	)	$	3,221
Trade names	117,206		(50,604		)	66,602		16	113,428		(42,653		)	70,775
Customer relationships	317,316		(124,566		)	192,750		13	369,087		(161,065		)	208,022
Unpatented technology	91,166		(29,428		)	61,738		13	106,747		(44,516		)	62,231
Other	839		(573		)	266		10	6,527		(6,172		)	355
Total amortized intangible assets	536,160		(212,314		)	323,846			605,645		(261,041		)	344,604
Indefinite-lived intangible assets:
Banjo trade name	62,100		—			62,100			62,100		—			62,100
Akron Brass trade name	28,800		—			28,800			28,800		—			28,800
Total intangible assets	$	627,060	$	(212,314	)	$	414,746		$	696,545	$	(261,041	)	$	435,504

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

In 2017 and 2016, there were no events that occurred or circumstances that changed that would have required a review other than as of our annual test date.

Amortization of intangible assets was $45.9 million, $49.0 million and $42.4 million in 2017, 2016 and 2015, respectively. Based on the intangible asset balances as of December 31, 2017, amortization expense is expected to approximate $38.4 million in 2018, $35.3 million in 2019, $34.5 million in 2020, $33.2 million in 2021 and $31.6 million in 2022.

- 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, 2017

Debt Disclosure [Abstract]

Borrowings

Borrowings at December 31, 2017 and 2016 consisted of the following:



	2017		2016
	(In thousands)
Revolving Facility	$	10,740	$	169,579
4.5% Senior Notes, due December 2020	300,000		300,000
4.2% Senior Notes, due December 2021	350,000		350,000
3.2% Senior Notes, due June 2023	100,000		100,000
3.37% Senior Notes, due June 2025	100,000		100,000
Other borrowings	1,446		1,294
Total borrowings	862,186		1,020,873
Less current portion	258		1,046
Less deferred debt issuance costs	2,204		4,399
Less unaccreted debt discount	936		1,193
Total long-term borrowings	$	858,788	$	1,014,235

On June 13, 2016, the Company completed a private placement of $100 million aggregate principal amount of 3.20% Senior Notes due June 13, 2023 and $100 million aggregate principal amount of 3.37% Senior Notes due June 13, 2025 (collectively, the “Notes”) pursuant to a Note Purchase Agreement, dated June 13, 2016 (the “Purchase Agreement”). Each series of Notes bears interest at the stated amount per annum, which is payable semi-annually in arrears on each June 13^th and December 13^th. The Notes are unsecured obligations of the Company and rank pari passu in right of payment with all of the Company’s other unsecured, unsubordinated debt. The Company may at any time prepay all, or any portion of the Notes; provided that such portion is greater than 5% of the aggregate principal amount of Notes then outstanding. In the event of a prepayment, the Company will pay an amount equal to par plus accrued interest plus a make-whole amount. In addition, the Company may repurchase the Notes by making an offer to all holders of the Notes, subject to certain conditions.

The Purchase Agreement contains certain covenants that restrict the Company’s ability to, among other things, transfer or sell assets, incur indebtedness, create liens, transact with affiliates and engage in certain mergers or consolidations or other change of control transactions. In addition, the Company must comply with a leverage ratio and interest coverage ratio, as further described below, and the Purchase Agreement also limits the outstanding principal amount of priority debt that may be incurred by the Company to 15% of consolidated assets. The Purchase Agreement provides for customary events of default. In the case of an event of default arising from specified events of bankruptcy or insolvency, all of the outstanding Notes will become due and payable immediately without further action or notice. In the case of payment event of default, any holder of the Notes affected thereby may declare all the Notes held by it due and payable immediately. In the case of any other event of default, a majority of the holders of Notes may declare all of the Notes to be due and payable immediately.

On June 23, 2015, the Company entered into a credit agreement (the “Credit Agreement”) along with certain of its subsidiaries, as borrowers (the “Borrowers”), Bank of America, N.A., as administrative agent, swing line lender and an issuer of letters of credit, with other agents party thereto. The Credit Agreement replaces the Company’s existing five-year $700 million credit agreement, dated as of June 27, 2011, which was due to expire on June 27, 2016.

The Credit Agreement consists of a revolving credit facility (the “Revolving Facility”) in an aggregate principal amount of $700 million, with a final maturity date of June 23, 2020. The maturity date may be extended under certain conditions for an additional one-year term. Up to $75 million of the Revolving Facility is available for the issuance of letters of credit. Additionally, up to $50 million of the Revolving Facility is available to the Company for swing line loans, available on a same-day basis.

Proceeds of the Revolving Facility are available for use by the Borrowers for acquisitions, working capital and other general corporate purposes, including refinancing existing debt of the Company and its subsidiaries. The Company may request increases in the lending commitments under the Credit Agreement, but the aggregate lending commitments pursuant to such increases may not exceed $350 million. The Company has the right, subject to certain conditions set forth in the Credit Agreement, to designate

certain foreign subsidiaries of the Company as borrowers under the Credit Agreement. In connection with any such designation,

the Company is required to guarantee the obligations of any such subsidiaries.

Borrowings under the Credit Agreement bear interest at either an alternate base rate or an adjusted LIBOR rate plus, in each case, an applicable margin. Such applicable margin is based on the Company’s senior, unsecured, long-term debt rating and can range from .005% to 1.50%. Based on the Company’s credit rating at December 31, 2017, the applicable margin was 1.10%. Given the fact that LIBOR was negative at December 31, 2017, the default interest rate is equal to the applicable margin, resulting in a weighted average interest rate of 1.10% at December 31, 2017. Interest is payable (a) in the case of base rate loans, quarterly, and (b) in the case of LIBOR rate loans, on the maturity date of the borrowing, or quarterly from the effective date for borrowings exceeding three months.

The Credit Agreement requires payment to the lenders of a facility fee based upon (a) the amount of the lenders’ commitments under the credit facility from time to time and (b) the applicable corporate credit ratings of the Company. Voluntary prepayments of any loans and voluntary reductions of the unutilized portion of the commitments under the credit facility are permissible without penalty, subject to break funding payments and minimum notice and minimum reduction amount requirements.

The negative covenants include, among other things, limitations (each of which is subject to customary exceptions for financings of this type) on our ability to grant liens; enter into transactions resulting in fundamental changes (such as mergers or sales of all or substantially all of the assets of the Company); restrict subsidiary dividends or other subsidiary distributions; enter into transactions with the Company’s affiliates; and incur certain additional subsidiary debt.

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

At December 31, 2017, $10.7 million was outstanding under the Revolving Facility, with $7.2 million of outstanding letters of credit, resulting in net available borrowing capacity under the Revolving Facility at December 31, 2017 of approximately $682.1 million.

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 of 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.

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 of 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.

There are two key financial covenants that the Company is required to maintain in connection with the Revolving Facility and the Notes, a minimum interest coverage ratio of 3.0 to 1 and a maximum leverage ratio of 3.50 to 1, which is the ratio of the Company’s consolidated total debt to its consolidated EBITDA. At December 31, 2017, the Company was in compliance with both of these financial covenants. There are no financial covenants relating to the 4.5% Senior Notes or 4.2% Senior Notes; however, both are subject to cross-default provisions.

Total borrowings at December 31, 2017 have scheduled maturities as follows:



(In thousands)
2018	$	1,436
2019	10
2020	310,740
2021	350,000
2022	—
Thereafter	200,000
Total borrowings	$	862,186

Derivative Instruments

12 Months Ended

Dec. 31, 2017

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Derivative Instruments

The type of cash flow hedges the Company has entered into includes 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 as well as foreign currency exchange contracts designed to minimize the earnings impact on certain intercompany loans.

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. See Note 14 for the amount of loss reclassified into income for interest rate contracts for the years ended December 31, 2017, 2016 and 2015.

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%.

The amount of expense reclassified into interest expense for interest rate contracts for the years ended December 31, 2017, 2016 and 2015 is $6.7 million, $6.9 million and $7.0 million, respectively.

Approximately $6.5 million of the pre-tax amount included in accumulated other comprehensive loss in shareholders’ equity at December 31, 2017 will be recognized to net income over the next 12 months as the underlying hedged transactions are realized.

At December 31, 2017, the Company had outstanding foreign currency exchange contracts with a combined notional value of €180 million that have not been designated as hedges for accounting purposes. These contracts are used to minimize the economic impact and reduce the variability on earnings due to foreign currency fluctuations between the Swiss Franc and the Euro associated with certain intercompany loans that were established in conjunction with the SFC Koenig acquisition. The change in the fair value of the foreign currency exchange contracts and the corresponding foreign currency gain or loss on the revaluation of the intercompany loans are both recorded through earnings each period as incurred within Other (income) expense - net in the Consolidated Statements of Operations.

During the year ended December 31, 2017, the Company recorded a gain of $19.8 million within Other (income) expense - net related to these foreign currency exchange contracts. During year ended December 31, 2017, the Company recorded a foreign currency transaction loss of $20.2 million within Other (income) expense - net related to these intercompany loans.

The foreign currency exchange contracts are settled in cash approximately every 90 days, with the proceeds recorded within Financing Activities on the Consolidated Statement of Cash Flows. The non-cash impact associated with the change in the amount receivable from or payable to the counter parties is recorded within Operating Activities on the Statement of Cash Flows until such time as the foreign currency exchange contracts are settled in cash. For the year ended December 31, 2017, the Company received $13.7 million in settlement of the foreign currency exchange contracts. The Company received $6.6 million on January 5, 2018 in settlement of the foreign currency exchange contracts outstanding as of December 31, 2017.

Fair values relating to derivative financial instruments reflect the estimated amounts that the Company would receive or pay to sell or buy the contracts based on quoted market prices of comparable contracts at each balance sheet date. The following table sets forth the fair value amounts of derivative instruments held by the Company as of December 31, 2017 and 2016:



	Fair Value Assets (Liabilities)
	December 31, 2017		December 31, 2016		Balance Sheet Caption
	(In thousands)
Foreign currency exchange contracts	$	5,779	$	—	Other current assets

Fair Value Measurements

12 Months Ended

Dec. 31, 2017

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 sheets at December 31, 2017 and 2016:



	Basis of Fair Value Measurements
	Balance at December 31, 2017		Level 1		Level 2		Level 3
	(In thousands)
Available for sale securities	$	6,742	$	6,742	$	—	$	—
Foreign currency exchange contracts	5,779		—		5,779		—



	Basis of Fair Value Measurements
	Balance at December 31, 2016		Level 1		Level 2		Level 3
	(In thousands)
Available for sale securities	$	5,369	$	5,369	$	—	$	—

There were no transfers of assets or liabilities between Level 1 and Level 2 in 2017 or 2016.

The carrying value of our cash and cash equivalents, accounts receivable, accounts payable and accrued expenses approximates their fair values because of the short term nature of these instruments. At December 31, 2017, the fair value of the outstanding indebtedness under our Revolving Facility, 3.2% Senior Notes, 3.37% Senior Notes, 4.5% Senior Notes and 4.2% Senior Notes, based on quoted market prices and current market rates for debt with similar credit risk and maturity, was approximately $886.3 million compared to the carrying value of $861.0 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, 2017

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 $19.0 million, $18.6 million and $18.9 million in 2017, 2016 and 2015, respectively.

The aggregate future minimum lease payments for operating and capital leases as of December 31, 2017 were as follows:



	Operating		Capital
	(In thousands)
2018	$	15,992	$	258
2019	12,064		10
2020	9,465		—
2021	6,904		—
2022	4,999		—
2023 and thereafter	15,435		—
	$	64,859	$	268

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:



	2017			2016			2015
	(In thousands)
Beginning balance January 1	$	5,628		$	7,936		$	7,196
Provision for warranties	2,895			1,828			4,788
Claim settlements	(2,317		)	(3,539		)	(3,864		)
Other adjustments, including acquisitions, divestitures and currency translation	75			(597		)	(184		)
Ending balance December 31	$	6,281		$	5,628		$	7,936

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

Income Taxes

12 Months Ended

Dec. 31, 2017

Income Tax Disclosure [Abstract]

Income Taxes

Pretax income for 2017, 2016 and 2015 was taxed in the following jurisdictions:



	2017		2016		2015
	(In thousands)
U.S.	$	302,515	$	265,260	$	285,399
Foreign	152,758		103,252		106,946
Total	$	455,273	$	368,512	$	392,345

The provision (benefit) for income taxes for 2017, 2016 and 2015, was as follows:



	2017			2016			2015
	(In thousands)
Current
U.S.	$	91,641		$	67,668		$	73,059
State and local	9,342			4,503			6,188
Foreign	50,775			42,540			30,630
Total current	151,758			114,711			109,877
Deferred
U.S.	(36,390		)	(6,249		)	7,125
State and local	3,305			(331		)	(1,017		)
Foreign	(657		)	(10,728		)	(6,447		)
Total deferred	(33,742		)	(17,308		)	(339		)
Total provision for income taxes	$	118,016		$	97,403		$	109,538

Deferred tax assets (liabilities) at December 31, 2017 and 2016 were:



	2017			2016
	(In thousands)
Employee and retiree benefit plans	$	31,804		$	42,950
Capital loss carryforwards	12,853			18,668
Depreciation and amortization	(176,592		)	(238,321		)
Inventories	8,548			11,519
Allowances and accruals	4,572			9,338
Interest rate exchange agreement	5,007			10,442
Other	(8,019		)	(90		)
Total gross deferred tax (liabilities)	(121,827		)	(145,494		)
Capital loss valuation allowance	(12,853		)	(18,668		)
Total deferred tax (liabilities), net of valuation allowances	$	(134,680	)	$	(164,162	)

The deferred tax assets and liabilities recognized in the Company’s Consolidated Balance Sheets as of December 31, 2017 and 2016 were:



	2017			2016
	(In thousands)
Noncurrent deferred tax asset — Other noncurrent assets	$	2,958		$	2,265
Noncurrent deferred tax liabilities — Deferred income taxes	(137,638		)	(166,427		)
Net deferred tax liabilities	$	(134,680	)	$	(164,162	)

The Company had prepaid income taxes, recorded within Other current assets on the Consolidated Balance Sheets, of $40.9 million and $42.2 million as of December 31, 2017 and 2016, respectively.

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 2017, 2016 and 2015 are as follows:



	2017			2016			2015
	(In thousands)
Pretax income	$	455,273		$	368,512		$	392,345
Provision for income taxes
Computed amount at statutory rate of 35%	$	159,346		$	128,979		$	137,321
State and local income tax (net of federal tax benefit)	5,841			4,070			5,033
Taxes on non-U.S. earnings-net of foreign tax credits	(24,914		)	(6,666		)	(11,663		)
Effect of flow-through entities	192			(8,735		)	(8,358		)
U.S. business tax credits	(1,928		)	(1,665		)	(1,273		)
Domestic activities production deduction	(8,516		)	(9,043		)	(6,521		)
Deferred tax effect of foreign tax rate change	—			—			(2,636		)
Capital loss on divestitures	(2,275		)	(23,444		)	—
Share-based payments	(6,844		)	(6,520		)	—
Valuation allowance	(361		)	17,973			—
Impact of Tax Act	(100		)	—			—
Other	(2,425		)	2,454			(2,365		)
Total provision for income taxes	$	118,016		$	97,403		$	109,538

On December 22, 2017, the President of the United States signed into law the Tax Cuts and Jobs Act (the “Tax Act”). The Tax Act included significant changes to the existing tax law, including, but not limited to, a permanent reduction to the U.S. federal corporate income tax rate from 35% to 21%, effective January 1, 2018, and the creation of a modified territorial tax system with a one-time repatriation tax on certain deferred foreign income (“Transition Tax”). We have estimated our provision for income taxes in accordance with the Tax Act and guidance available as of the date of this filing and as a result have recorded a net $0.1 million tax benefit in the fourth quarter of 2017, the period in which the legislation was enacted. Although the net effect from the Tax Act was a $0.1 million tax benefit, there were several offsetting adjustments, including: a $40.6 million provisional tax benefit related to the remeasurement of certain deferred tax assets and liabilities, based on the rates at which they are expected to reverse in the future; $30.3 million of provisional tax expense related to the one-time Transition Tax on the mandatory deemed repatriation of foreign earnings based on cumulative foreign earnings of $779.0 million; and an additional $10.2 million of tax expense primarily related to the removal of the permanent reinvestment representation with respect to certain of its subsidiaries in Canada, Italy, and Germany.

The Company has $350 million and $670 million of permanently reinvested earnings of non-U.S. subsidiaries as of December 31, 2017 and 2016, respectively. The significant decrease in permanently reinvested earnings of non-U.S. subsidiaries was due to the Company’s removal of its permanently reinvested assertion on select entities in Canada, Germany and Italy, mainly in response to the deemed distribution and repatriation tax incurred in 2017 as a result of the Tax Act, further described within the footnote. No deferred U.S. income taxes have been provided on the $350 million of permanently reinvested earnings, as these earnings are provisionally considered to be reinvested for an indefinite period of time, pending further evaluation of the impacts of the Tax Act on the Company. It should also be noted that, pursuant to the Tax Act, the aforementioned earnings will not incur U.S. taxes when ultimately repatriated other than potentially U.S. state and local taxes and/or U.S. federal income taxes on foreign exchange gains or losses crystallized on the distribution of such earnings. Such distributions could also be subject to additional foreign withholding and foreign income taxes. The amount of unrecognized deferred income tax liabilities on currently permanently reinvested earnings is estimated to be $8.2 million as of December 31, 2017.

During the years ended December 31, 2017, 2016 and 2015 the Company repatriated $3.3 million, $28.8 million and $14.3 million of foreign earnings, respectively, exclusive of the repatriation tax distributions deemed to have been made under the Tax Act. These actual distributions resulted in $6.4 million of incremental income tax benefit, $2.7 million of incremental income tax expense and $0.3 million of incremental income tax expense, in 2017, 2016, and 2015, respectively. These repatriations represent distributions of current year earnings and distributions from liquidating subsidiaries and did not impact our representation that the undistributed earnings were permanently invested.

Because the changes included in the Tax Act are broad and complex, on December 22, 2017, the SEC issued Staff Accounting Bulletin No. 118, Income Tax Accounting Implications of the Tax Cuts and Jobs Act (“SAB 118”), which provides guidance on accounting for tax effects of the Tax Act. SAB 118 provides a measurement period that should not extend beyond one year from the Tax Act enactment date for companies to complete the accounting under ASC 740. In accordance with SAB 118, a company must reflect the income tax effects of those aspects of the Tax Act for which the accounting under ASC 740 is complete. To the extent that a company’s accounting for certain income tax effects of the Tax Act is incomplete but it is able to determine a reasonable estimate, it must record a provisional estimate to be included in the financial statements. If a company cannot determine a provisional estimate to be included in the financial statements, it should continue to apply ASC 740 on the basis of the provision of the tax laws that were in effect immediately before the enactment of the Tax Act. While the Company is able to make reasonable estimates of the impact of the reduction in corporate rate and the deemed repatriation transition tax, the final impact of the Tax Act may differ from these estimates, due to, among other things, changes in the Company’s interpretations and assumptions, additional guidance that may be issued by either the Internal Revenue Service or the U.S. Department of Treasury, and actions the Company may take. The Company is continuing to gather additional information to determine the final impact. While the Company was able to make reasonable estimates of certain impacts (and therefore, recorded provisional adjustments), the Company’s accounting for the following elements of the Tax Act is incomplete:

Deemed Repatriation Transition Tax: The Transition Tax is a tax on previously untaxed accumulated and current earnings and profits of certain foreign subsidiaries. To determine the amount of the Transition Tax, the Company must determine, in addition to other factors, the amount of post-1986 earnings and profits of the relevant subsidiaries, as well as the amount of non-U.S. income taxes paid on such earnings. The Company is able to make a reasonable estimate of the Transition Tax and recorded a provisional Transition Tax obligation of $30.3 million. However, the Company is continuing to gather additional information to more precisely compute the amount of Transition Tax. As of December 31, 2017, the company recorded $2.4 million of the Transition tax within accrued liabilities and the remaining $27.9 million within other noncurrent liabilities on the consolidated balance sheets based on the Company’s intention to pay these liabilities. The amount recorded within other noncurrent liabilities is included as a source of cash in Other-net within the operating activities of the Consolidated Statements of Cash Flows.

Reduction of U.S. federal corporate tax rate: The Tax Act reduces the corporate tax rate to 21%, effective January 1, 2018. The Company recorded a provisional deferred income tax benefit of $40.6 million for the year ended December 31, 2017 in connection with the remeasurement of certain deferred tax assets and liabilities. While the Company is able to make a reasonable estimate of the impact of the reduction in corporate rate, it may be affected by other analyses related to the Tax Act which are still ongoing, including, but not limited to, the state tax effect of adjustments made to federal temporary differences.

Removal of permanent reinvestment representation on certain undistributed foreign earnings: As a result of the enactment of the Tax Act, the Company has decided to remove the permanent reinvestment representation with respect to certain of its subsidiaries in Canada, Italy, and Germany, as of December 31, 2017. Under the mandatory repatriation provisions of the Tax Act, post-1986 undistributed earnings were taxed in the U.S. as if they were distributed before December 31, 2017. However, with the removal of the permanent reinvestment representation with respect to select subsidiaries in Canada, Italy, and Germany, the non-creditable withholding taxes and any local country taxes associated with future dividends from these subsidiaries are required to be recorded as deferred tax liabilities as of the end of 2017. The Company recorded a provisional increase in its deferred tax liability of $9.2 million, with a corresponding adjustment to deferred income tax expense of $9.2 million for the year ending December 31, 2017. The Company is considering removal of the permanent reinvestment representation with respect to its remaining subsidiaries, which it estimates would result in an additional $8.2 million increase in its deferred tax liability.

Global intangible low taxed income (“GILTI”): The Tax Act creates a new requirement that certain income (i.e. GILTI) earned by controlled foreign corporations (“CFCs”) must be included currently in the gross income of the CFC’s U.S. shareholder. GILTI is the excess of the U.S. shareholder’s “net CFC tested income” over the net deemed intangible income return, which is currently defined as the excess of (1) 10% of the aggregate of the U.S. shareholder’s pro rata share of the qualified business asset investment of each CFC with respect to which it is a U.S. shareholder over (2) the amount of certain interest expense taken into account in the determination of net CFC-tested income. In January 2018, FASB released guidance on the accounting for the GILTI tax. The guidance indicates that either accounting for deferred taxes related to GILTI tax inclusions or treating the GILTI tax as a period cost are both acceptable methods subject to an accounting policy election. Because of the complexity of the new GILTI tax rules, the Company is continuing to evaluate this provision of the Tax Act and the application of ASC 740. Therefore, the Company has not made any adjustments related to potential GILTI tax in the Company’s financial statements and has not made a policy decision regarding whether to record deferred taxes on GILTI.

As a result of the enactment of the Tax Act, the Company has decided to remove the ASC 830 representation with respect to certain intercompany loans between the Company’s foreign subsidiaries. Under ASC 830, functional currency assets and liabilities are translated into U.S. dollars generally using current rates of exchange prevailing at the balance sheet date of each respective subsidiary and the related translation adjustments are recorded as a separate component of other comprehensive income. The Company has decided to remove the ASC 830 representation with respect to certain intercompany loans between the Company’s foreign subsidiaries. As a result, the Company recorded an increase in income tax expense of $1.0 million.

A reconciliation of the beginning and ending amount of unrecognized tax benefits for 2017, 2016 and 2015 is as follows:



	2017			2016			2015
	(In thousands)
Beginning balance January 1	$	3,775		$	7,228		$	3,619
Gross increase due to non-U.S. acquisitions	—			—			3,772
Gross increases for tax positions of prior years	537			201			1,256
Gross decreases for tax positions of prior years	(587		)	(93		)	—
Settlements	(604		)	(2,014		)	(667		)
Lapse of statute of limitations	(399		)	(1,547		)	(752		)
Ending balance December 31	$	2,722		$	3,775		$	7,228

We recognize interest and penalties related to uncertain tax positions in income tax expense. As of December 31, 2017, 2016 and 2015, we had approximately $0.1 million, $0.1 million and $0.2 million, respectively, of accrued interest related to uncertain tax positions. As of December 31, 2017, 2016 and 2015, we had approximately zero, $0.1 million and $0.3 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 $0.9 million, $1.8 million and $3.0 million as of December 31, 2017, 2016 and 2015, respectively. The tax years 2011-2016 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 $1.7 million.

The Company had net operating loss and credit carryforwards related to prior acquisitions for U.S. federal purposes at December 31, 2017 and 2016 of $2.4 million and $3.5 million, respectively. The U.S. federal net operating loss and credit carryforwards are available for use against the Company’s consolidated U.S. federal taxable income and expire between 2021 and 2028. For non-U.S. purposes, the Company had net operating loss carryforwards at December 31, 2017 and 2016 of $24.5 million and $25.6 million, respectively, the majority of which relates to acquisitions. The entire balance of the non-U.S. net operating losses is available to be carried forward. At December 31, 2017 and 2016, the Company had U.S. state net operating loss carryforwards of approximately $6.7 million and $33.1 million, respectively. If unutilized, the U.S. state net operating loss will expire between 2019 and 2037. At December 31, 2017 and 2016, the Company recorded a valuation allowance against the deferred tax asset attributable to the U.S. state net operating loss of $0.1 million and $1.3 million, respectively.

The Company had a capital loss carryover for U.S. federal purposes at December 31, 2017 and 2016 of approximately $46.0 million and $70.1 million, respectively. U.S. federal capital loss carryovers can be carried back three years and forward five years, thus, if unutilized, the U.S. federal capital loss carryover will expire in 2021. At December 31, 2017 and 2016, the Company recorded a valuation allowance against the deferred tax asset attributable to the U.S. federal capital loss carryover of $9.7 million and $18.7 million, respectively. At December 31, 2017 and 2016, the Company had U.S. state capital loss carryovers of approximately $62.7 million and $70.1 million, respectively. If unutilized, the U.S. state capital loss carryovers will expire between 2021 and 2031. At December 31, 2017 and 2016, the Company recorded a valuation allowance against the deferred tax assets attributable to the U.S. state capital loss carryovers of $0.8 million and $0.7 million, respectively. At December 31, 2017 and 2016, the Company had a foreign capital loss carryforward of approximately $14.2 million and $0.7 million, respectively. The foreign capital loss can be carried forward indefinitely. At both December 31, 2017 and 2016, the Company has a full valuation allowance against the deferred tax asset attributable to the foreign capital loss.

Business Segments and Geographic Information

12 Months Ended

Dec. 31, 2017

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 & wastewater, agriculture and energy industries.

The Health & Science Technologies segment designs, produces and distributes a wide range of precision fluidics, rotary lobe pumps, centrifugal and positive displacement pumps, roll compaction and drying systems used in beverage, food processing, pharmaceutical and cosmetics, pneumatic components and sealing solutions, including very high precision, low-flow rate pumping solutions required in analytical instrumentation, clinical diagnostics and drug discovery, high performance molded and extruded sealing components, biocompatible medical devices and implantables, air compressors used in medical, dental and industrial applications, optical components and coatings for applications in the fields of scientific research, defense, biotechnology, aerospace, telecommunications and electronics manufacturing, laboratory and commercial equipment used in the production of micro and nano scale materials, precision photonic solutions used in life sciences, research and defense markets, and precision gear and peristaltic pump technologies that meet exacting original equipment manufacturer specifications.

The Fire & Safety/Diversified Products segment produces firefighting pumps, valves and controls, rescue tools, lifting bags and other components and systems for the fire and rescue industry, engineered stainless steel banding and clamping devices used in a variety of industrial and commercial applications, and precision equipment for dispensing, metering and mixing colorants and paints used in a variety of retail and commercial businesses around the world.

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



	2017			2016 ⁽⁴⁾			2015⁽⁴⁾
	(In thousands)
NET SALES
Fluid & Metering Technologies
External customers	$	880,648		$	848,708		$	859,945
Intersegment sales	309			393			847
Total segment sales	880,957			849,101			860,792
Health & Science Technologies
External customers	819,719			744,380			737,011
Intersegment sales	412			429			1,985
Total segment sales	820,131			744,809			738,996
Fire & Safety/Diversified Products
External customers	586,945			519,955			423,712
Intersegment sales	588			54			203
Total segment sales	587,533			520,009			423,915
Intersegment eliminations	(1,309		)	(876		)	(3,035		)
Total net sales	$	2,287,312		$	2,113,043		$	2,020,668
OPERATING INCOME (LOSS) ⁽¹⁾
Fluid & Metering Technologies	$	241,030		$	217,500		$	206,419
Health & Science Technologies	179,567			153,691			158,364
Fire & Safety/Diversified Products	147,028			123,605			117,346
Corporate office ⁽²⁾	(65,069		)	(82,399		)	(45,139		)
Total operating income	502,556			412,397			436,990
Interest expense	44,889			45,616			41,636
Other (income) expense - net	2,394			(1,731		)	3,009
Income before taxes	$	455,273		$	368,512		$	392,345



	2017		2016 ⁽⁴⁾		2015⁽⁴⁾
	(In thousands)
ASSETS
Fluid & Metering Technologies	$	1,101,580	$	1,065,670	$	1,125,266
Health & Science Technologies	1,323,373		1,266,036		1,108,302
Fire & Safety/Diversified Products	744,515		705,735		448,867
Corporate office	230,160		117,503		123,008
Total assets	$	3,399,628	$	3,154,944	$	2,805,443
DEPRECIATION AND AMORTIZATION ⁽³⁾
Fluid & Metering Technologies	$	23,587	$	28,458	$	27,662
Health & Science Technologies	45,287		45,298		42,827
Fire & Safety/Diversified Products	14,541		11,956		6,051
Corporate office and other	801		1,180		1,580
Total depreciation and amortization	$	84,216	$	86,892	$	78,120
CAPITAL EXPENDITURES
Fluid & Metering Technologies	$	18,218	$	16,389	$	22,846
Health & Science Technologies	16,340		15,665		13,104
Fire & Safety/Diversified Products	6,363		5,945		5,804
Corporate office and other	2,937		243		2,022
Total capital expenditures	$	43,858	$	38,242	$	43,776


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


(2)	2017 includes a $9.3 million gain on the sale of a business, 2016 includes a $22.3 million loss on the sale of businesses - net and 2015 includes an $18.1 million gain on the sale of a business.


(3)	Excludes amortization of debt issuance expenses.


(4)	Certain amounts in the prior year income statements have been reclassified to conform with the current presentation due to the early adoption of ASU 2017-07.

Information about the Company’s operations in different geographical regions for the years ended December 31, 2017, 2016 and 2015 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.



	2017		2016		2015
	(In thousands)
NET SALES
U.S.	$	1,158,889	$	1,067,333	$	1,015,277
North America, excluding U.S.	93,419		84,836		85,852
Europe	567,282		517,179		490,435
Asia	366,577		340,624		325,507
Other	101,145		103,071		103,597
Total net sales	$	2,287,312	$	2,113,043	$	2,020,668
LONG-LIVED ASSETS — PROPERTY, PLANT AND EQUIPMENT
U.S.	$	145,808	$	152,504	$	144,508
North America, excluding U.S.	3,627		1,533		643
Europe	85,932		71,681		69,082
Asia	22,613		21,793		26,498
Other	370		305		214
Total long-lived assets — net	$	258,350	$	247,816	$	240,945

Restructuring

12 Months Ended

Dec. 31, 2017

Restructuring and Related Activities [Abstract]

Restructuring

During the first and fourth quarters of 2017, the fourth quarter of 2016 and the third and fourth quarters of 2015, 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 were included in Restructuring expenses in the Consolidated Statements of Operations while the related accruals were included in Accrued expenses in the Consolidated Balance Sheets. Severance costs primarily consisted of severance benefits through payroll continuation, COBRA subsidies, outplacement services, conditional separation costs and employer tax liabilities, while exit costs primarily consisted of asset disposals or impairments and lease exit and contract termination costs.

2017 Initiative

During the fourth quarter of 2017, the Company recorded pre-tax restructuring expenses totaling $3.7 million related to the 2017 restructuring initiative. These expenses consisted of employee severance related to employee reductions across various functional areas as well as facility rationalization and contract termination costs. The 2017 restructuring initiative included severance benefits for 92 employees. Severance payments will be substantially paid by the end of 2018 using cash from operations.

Pre-tax restructuring expenses by segment for the 2017 initiative were as follows:



	Severance Costs		Exit Costs		Total
	(In thousands)
Fluid & Metering Technologies	$	1,375	$	433	$	1,808
Health & Science Technologies	1,510		158		1,668
Fire & Safety/Diversified Products	182		—		182
Corporate/Other	—		—		—
Total restructuring costs	$	3,067	$	591	$	3,658

2016 Initiative

During the first quarter of 2017, the Company recorded pre-tax restructuring expenses totaling $4.8 million related to the 2016 restructuring initiative. During the fourth quarter of 2016, the Company recorded pre-tax restructuring expenses totaling $3.7 million related to the 2016 restructuring initiative. These expenses consisted of employee severance related to employee reductions across various functional areas as well as facility rationalization costs. The 2016 restructuring initiative included severance benefits for 226 employees. Severance payments were substantially paid by the end of 2017 using cash from operations.

Pre-tax restructuring expenses by segment for the 2016 initiative were as follows:



	2017						2016
	Severance Costs		Exit Costs		Total Restructuring Costs		Total Restructuring Costs
	(In thousands)
Fluid & Metering Technologies	$	1,566	$	—	$	1,566	$	932
Health & Science Technologies	2,470		558		3,028		1,117
Fire & Safety/Diversified Products	73		—		73		1,425
Corporate/Other	130		—		130		200
Total restructuring costs	$	4,239	$	558	$	4,797	$	3,674

2015 Initiative

During 2015, the Company recorded pre-tax restructuring expenses totaling $11.2 million related to the 2015 restructuring initiative. These expenses consisted of employee severance related to employee reductions across various functional areas. The 2015 restructuring initiative included severance benefits for 208 employees. Severance payments were fully paid by the end of 2017 using cash from operations.

Pre-tax restructuring expenses, comprised solely of severance costs, by segment for the 2015 initiative were as follows:



		Total Restructuring Costs
	(In thousands)
Fluid & Metering Technologies		$	7,090
Health & Science Technologies		3,408
Fire & Safety/Diversified Products		576
Corporate/Other		165
Total restructuring costs		$	11,239

Restructuring accruals of $4.2 million and $3.9 million at December 31, 2017 and 2016, respectively, are reflected in Accrued expenses in our Consolidated Balance Sheets as follows:



	Restructuring Initiatives
	(In thousands)
Balance at January 1, 2016	$	6,636
Restructuring expenses	3,674
Payments, utilization and other	(6,417		)
Balance at December 31, 2016	3,893
Restructuring expenses	8,455
Payments, utilization and other	(8,168		)
Balance at December 31, 2017	$	4,180

Share-Based Compensation

12 Months Ended

Dec. 31, 2017

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, restricted stock, performance 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, 2017 totaled 15.6 million, of which 4.9 million shares were available for future issuance. 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.

Stock Options

Stock options granted under the Company’s plans are generally non-qualified and are granted with an exercise price equal to the market price of the Company’s stock 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.

Weighted average option fair values and assumptions for the period are as follows:



	Years Ended December 31,
	2017	2016	2015
Weighted average fair value of grants	$24.19	$18.56	$20.32
Dividend yield	1.45%	1.69%	1.45%
Volatility	29.41%	29.70%	29.90%
Risk-free interest rate	0.83% - 3.04%	0.53% - 2.49%	0.24% - 2.82%
Expected life (in years)	5.83	5.91	5.93

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, 2017, 2016 and 2015 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, 2017, 2016 and 2015, 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.

A summary of the Company’s stock option activity as of December 31, 2017, and changes during the year ended December 31, 2017 is presented as follows:



Stock Options	Shares		Weighted Average Price		Weighted-Average Remaining Contractual Term	Aggregate Intrinsic Value
Outstanding at January 1, 2017	1,987,946		$	61.83	6.84	$	56,144,876
Granted	441,990		93.48
Exercised	(448,189	)	51.17
Forfeited/Expired	(57,064	)	79.14
Outstanding at December 31, 2017	1,924,683		$	71.07	6.87	$	117,209,218
Vested and expected to vest at December 31, 2017	1,823,279		$	70.26	6.77	$	112,521,086
Exercisable at December 31, 2017	898,003		$	57.21	5.27	$	67,130,223

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 2017, 2016 and 2015 was $26.1 million, $26.5 million and $16.9 million, respectively. In 2017, 2016 and 2015, cash received from options exercised was $22.9 million, $30.2 million and $19.2 million, respectively, while the actual tax benefit realized for the tax deductions from stock options exercised totaled $9.5 million, $9.6 million and $6.1 million, respectively.

Total compensation cost for stock options is recorded in the Consolidated Statements of Operations as follows:



	Years Ended December 31,
	2017			2016			2015
	(In thousands)
Cost of goods sold	$	428		$	427		$	543
Selling, general and administrative expenses	7,347			6,561			6,488
Total expense before income taxes	7,775			6,988			7,031
Income tax benefit	(2,485		)	(2,213		)	(2,208		)
Total expense after income taxes	$	5,290		$	4,775		$	4,823

As of December 31, 2017, there was $12.3 million of total unrecognized compensation cost related to stock options that is expected to be recognized over a weighted-average period of 1.4 years.

Restricted Stock

Restricted stock awards generally cliff vest after three years for employees and non-employee directors. Unvested restricted stock carries dividend and voting rights and the sale of the shares is restricted prior to the date of vesting. Dividends are paid on restricted stock awards and their fair value is equal to the market price of the Company’s stock at the date of the grant. A summary of the Company’s restricted stock activity as of December 31, 2017, and changes during the year ending December 31, 2017 is as follows:



Restricted Stock	Shares		Weighted-Average Grant Date Fair Value
Unvested at January 1, 2017	217,898		$	76.19
Granted	59,315		93.75
Vested	(82,420	)	72.42
Forfeited	(12,770	)	79.80
Unvested at December 31, 2017	182,023		$	83.37

Total compensation cost for restricted stock is recorded in the Consolidated Statements of Operations as follows:



	Years Ended December 31,
	2017			2016			2015
	(In thousands)
Cost of goods sold	$	335		$	390		$	341
Selling, general and administrative expenses	4,772			4,401			5,213
Total expense before income taxes	5,107			4,791			5,554
Income tax benefit	(1,654		)	(1,410		)	(1,604		)
Total expense after income taxes	$	3,453		$	3,381		$	3,950

As of December 31, 2017, there was $4.9 million of total unrecognized compensation cost related to restricted stock that is expected to be recognized over a weighted-average period of 1.0 year.

Cash-Settled Restricted Stock

The Company also maintains a cash-settled share based compensation plan for certain employees. Cash-settled restricted stock awards generally cliff vest after three years. Dividend equivalents are paid on certain cash-settled restricted stock awards. A summary of the Company’s unvested cash-settled restricted stock activity as of December 31, 2017, and changes during the year ending December 31, 2017 is as follows:



Cash-Settled Restricted Stock	Shares		Weighted-Average Fair Value
Unvested at January 1, 2017	103,790		$	90.06
Granted	34,530		93.92
Vested	(27,050	)	92.44
Forfeited	(16,540	)	122.31
Unvested at December 31, 2017	94,730		$	131.97

Total compensation cost for cash-settled restricted stock is recorded in the Consolidated Statements of Operations as follows:



	Years Ended December 31,
	2017			2016			2015
	(In thousands)
Cost of goods sold	$	1,357		$	764		$	753
Selling, general and administrative expenses	3,241			2,224			1,765
Total expense before income taxes	4,598			2,988			2,518
Income tax benefit	(808		)	(419		)	(355		)
Total expense after income taxes	$	3,790		$	2,569		$	2,163

At December 31, 2017 and 2016, the Company has $4.5 million and $3.0 million, respectively, included in Accrued expenses in the Consolidated Balance Sheets and $3.0 million and $2.4 million, respectively, included in Other non-current liabilities.

Performance Share Units

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 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 awards granted prior to 2016) or the Russell Midcap Index (for awards granted in 2016 and 2017) 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 peer 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’s performance share awards are considered performance condition awards and the grant date fair value of the awards, based on a Monte Carlo simulation model, is expensed ratably over the three-year term of the awards. The Company granted approximately 0.1 million of performance share units in each of 2017, 2016 and 2015.

Weighted average performance share unit fair values and assumptions for the period specified are as follows:



	Years Ended December 31,
	2017	2016	2015
Weighted average fair value of grants	$115.74	$111.42	$95.07
Dividend yield	—%	—%	—%
Volatility	17.36%	17.99%	19.14%
Risk-free interest rate	1.45%	0.89%	1.01%
Expected life (in years)	2.85	2.86	2.86

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.


•	The Company uses a Monte Carlo simulation model that uses an expected life commensurate with the performance period. As a result, 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.

A summary of the Company’s performance share unit activity as of December 31, 2017, and changes during the year ending December 31, 2017, is as follows:



Performance Share Units	Shares		Weighted-Average Grant Date Fair Value
Unvested at January 1, 2017	137,055		$	104.18
Granted	65,530		115.74
Vested	(62,755	)	95.81
Forfeited	(2,960	)	109.75
Unvested at December 31, 2017	136,870		$	113.81

Awards that vested in 2017 will result in 143,897 shares being issued in 2018.

Total compensation cost for performance share units is as follows:



	Years Ended December 31,
	2017			2016			2015
	(In thousands)
Cost of goods sold	$	—		$	—		$	—
Selling, general and administrative expenses	6,925			5,559			4,946
Total expense before income taxes	6,925			5,559			4,946
Income tax benefit	(2,342		)	(1,859		)	(1,670		)
Total expense after income taxes	$	4,583		$	3,700		$	3,276

As of December 31, 2017, there was $6.6 million of total unrecognized compensation cost related to performance shares that is expected to be recognized over a weighted-average period of 0.9 years.

Other Comprehensive Income (Loss)

12 Months Ended

Dec. 31, 2017

Equity [Abstract]

Other Comprehensive Income (Loss)

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



	For the Year Ended December 31, 2017									For the Year Ended December 31, 2016
	Pre-tax			Tax			Net of tax			Pre-tax			Tax			Net of tax
	(In thousands)
Foreign currency translation adjustments
Cumulative translation adjustment	$	110,421		$	—		$	110,421		$	(76,822	)	$	—		$	(76,822	)
Reclassification of foreign currency translation to earnings upon sale of business	2,749			—			2,749			14,257			—			14,257
Tax effect of reversal of indefinite assertion on certain intercompany loans	(3,932		)	—			(3,932		)	—			—			—
Foreign currency translation adjustments	109,238			—			109,238			(62,565		)	—			(62,565		)
Pension and other postretirement adjustments
Net gain (loss) arising during the year	(5,355		)	828			(4,527		)	(1,927		)	789			(1,138		)
Amortization/recognition of settlement loss	3,814			(589		)	3,225			7,083			(2,896		)	4,187
Pension and other postretirement adjustments	(1,541		)	239			(1,302		)	5,156			(2,107		)	3,049
Reclassification adjustments for derivatives	6,655			(2,445		)	4,210			6,851			(2,490		)	4,361
Total other comprehensive income (loss)	$	114,352		$	(2,206	)	$	112,146		$	(50,558	)	$	(4,597	)	$	(55,155	)



	For the Year Ended December 31, 2015
	Pre-tax			Tax			Net of tax
	(In thousands)
Foreign currency translation adjustments
Cumulative translation adjustment	$	(63,441	)	$	—		$	(63,441	)
Reclassification of foreign currency translation to earnings upon sale of business	(4,725		)	—			(4,725		)
Pension and other postretirement adjustments
Net gain (loss) arising during the year	8,318			(2,411		)	5,907
Amortization/recognition of settlement loss	4,939			(1,431		)	3,508
Pension and other postretirement adjustments, net	13,257			(3,842		)	9,415
Reclassification adjustments for derivatives	7,030			(2,499		)	4,531
Total other comprehensive income (loss)	$	(47,879	)	$	(6,341	)	$	(54,220	)

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



	For the Year Ended December 31,
	2017			2016			2015			Income Statement Caption
Foreign currency translation:
Reclassification upon sale of business	$	2,749		$	14,257		$	(4,725	)	Loss (gain) on sale of businesses - net
Total before tax	2,749			14,257			(4,725		)
Provision for income taxes	—			—			—
Total net of tax	$	2,749		$	14,257		$	(4,725	)
Pension and other postretirement plans:
Amortization of service cost	$	3,580		$	3,529		$	4,939		Other (income) expense - net
Recognition of settlement loss	234			3,554			—			Other (income) expense - net
Total before tax	3,814			7,083			4,939
Provision for income taxes	(589		)	(2,896		)	(1,431		)
Total net of tax	$	3,225		$	4,187		$	3,508
Derivatives:
Reclassification adjustments	$	6,655		$	6,851		$	7,030		Interest expense
Total before tax	6,655			6,851			7,030
Provision for income taxes	(2,445		)	(2,490		)	(2,499		)
Total net of tax	$	4,210		$	4,361		$	4,531

Retirement Benefits

12 Months Ended

Dec. 31, 2017

Retirement Benefits [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.

During 2016, the Company offered a voluntary lump-sum pension payment opportunity to certain terminated vested U.S. pension plan participants. Total lump-sum payments of $11.0 million were made for those participants electing to receive lump sums using pension plan assets. The Company recognized pretax settlement losses of $3.5 million in the fourth quarter of 2016 for those plans where the settlement payment exceeded the sum of the plans’ service and interest costs.

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, 2017, and a statement of the funded status at December 31 for both years.



	Pension Benefits												Other Benefits
	2017						2016						2017			2016
	U.S.			Non-U.S.			U.S.			Non-U.S.
	(In thousands)
CHANGE IN BENEFIT OBLIGATION
Obligation at January 1	$	90,256		$	87,764		$	98,476		$	58,063		$	24,636		$	20,400
Service cost	976			1,975			1,016			1,627			610			601
Interest cost	2,677			1,283			3,043			1,429			818			811
Plan amendments	—			—			—			—			—			—
Benefits paid	(6,258		)	(1,942		)	(3,140		)	(2,023		)	(738		)	(718		)
Actuarial loss (gain)	3,684			(15		)	1,987			6,844			592			(1,990		)
Currency translation	—			9,323			—			(6,988		)	150			52
Settlements	—			(2,452		)	(11,126		)	(819		)	—			—
Acquisition/Divestiture	—			(482		)	—			29,491			—			5,480
Other	—			1,997			—			140			—			—
Obligation at December 31	$	91,335		$	97,451		$	90,256		$	87,764		$	26,068		$	24,636
CHANGE IN PLAN ASSETS
Fair value of plan assets at January 1	$	73,688		$	32,586		$	77,575		$	20,645		$	—		$	—
Actual return on plan assets	5,046			1,792			6,740			2,470			—			—
Employer contributions	3,565			2,702			3,639			1,974			738			718
Benefits paid	(6,258		)	(1,942		)	(3,140		)	(2,023		)	(738		)	(718		)
Currency translation	—			2,446			—			(4,108		)	—			—
Settlements	—			(2,452		)	(11,126		)	(819		)	—			—
Acquisition/Divestiture	—			—			—			14,307			—			—
Other	—			1,184			—			140			—			—
Fair value of plan assets at December 31	$	76,041		$	36,316		$	73,688		$	32,586		$	—		$	—
Funded status at December 31	$	(15,294	)	$	(61,135	)	$	(16,568	)	$	(55,178	)	$	(26,068	)	$	(24,636	)
COMPONENTS ON THE CONSOLIDATED BALANCE SHEETS
Current liabilities	$	(658	)	$	(1,159	)	$	(729	)	$	(1,005	)	$	(1,034	)	$	(1,044	)
Other noncurrent liabilities	(14,636		)	(59,976		)	(15,839		)	(54,173		)	(25,034		)	(23,592		)
Net liability at December 31	$	(15,294	)	$	(61,135	)	$	(16,568	)	$	(55,178	)	$	(26,068	)	$	(24,636	)

The accumulated benefit obligation (“ABO”) for all defined benefit pension plans was $182.7 million and $176.7 million at December 31, 2017 and 2016, respectively.

The weighted average assumptions used in the measurement of the Company’s benefit obligation at December 31, 2017 and 2016 were as follows:



	U.S. Plans				Non-U.S. Plans
	2017		2016		2017		2016
Discount rate	3.46	%	3.91	%	1.82	%	1.76	%
Rate of compensation increase	4.00	%	4.00	%	2.37	%	2.29	%

The pretax amounts recognized in Accumulated other comprehensive income (loss) on the Consolidated Balance Sheets as of December 31, 2017 and 2016 were as follows:



	Pension Benefits								Other Benefits
	2017				2016				2017			2016
	U.S.		Non-U.S.		U.S.		Non-U.S.
	(In thousands)
Prior service cost (credit)	$	86	$	18	$	110	$	77	$	(483	)	$	(849	)
Net loss	27,789		17,986		27,860		17,643		(2,866		)	(3,852		)
Total	$	27,875	$	18,004	$	27,970	$	17,720	$	(3,349	)	$	(4,701	)

The amounts in Accumulated other comprehensive income (loss) on the Consolidated Balance Sheet as of December 31, 2017, that are expected to be recognized as components of net periodic benefit cost during 2018 are as follows:



	U.S. Pension Benefit Plans		Non-U.S. Pension Benefit Plans		Other Benefit Plans			Total
	(In thousands)
Prior service cost (credit)	$	24	$	3	$	(366	)	$	(339	)
Net loss	2,716		1,282		(371		)	3,627
Total	$	2,740	$	1,285	$	(737	)	$	3,288

The components of, and the weighted average assumptions used to determine, the net periodic benefit cost for the plans in 2017, 2016 and 2015 are as follows:



	Pension Benefits
	2017						2016						2015
	U.S.			Non-U.S.			U.S.			Non-U.S.			U.S.			Non-U.S.
	(In thousands)
Service cost	$	976		$	1,975		$	1,016		$	1,627		$	1,279		$	1,506
Interest cost	2,677			1,283			3,043			1,429			3,770			1,734
Expected return on plan assets	(3,832		)	(1,088		)	(4,777		)	(993		)	(4,910		)	(1,114		)
Settlement loss recognized	—			234			3,339			215			—			—
Net amortization	2,566			1,809			3,226			1,008			3,422			1,931
Net periodic benefit cost	$	2,387		$	4,213		$	5,847		$	3,286		$	3,561		$	4,057



	Other Benefits
	2017			2016			2015
	(In thousands)
Service cost	$	610		$	601		$	673
Interest cost	818			811			833
Net amortization	(795		)	(705		)	(414		)
Net periodic benefit cost	$	633		$	707		$	1,092



	U.S. Plans						Non-U.S. Plans
	2017		2016		2015		2017		2016		2015
Discount rate	3.91	%	4.12	%	3.78	%	1.76	%	2.99	%	2.66	%
Expected return on plan assets	5.50	%	6.50	%	6.50	%	3.20	%	4.58	%	5.19	%
Rate of compensation increase	4.00	%	4.00	%	4.00	%	2.29	%	2.98	%	3.00	%

The pretax change recognized in Accumulated other comprehensive income (loss) on the Consolidated Balance Sheet in 2017 is as follows:



	Pension Benefits						Other Benefits
	U.S.			Non-U.S.
	(In thousands)
Net gain (loss) in current year	$	(2,471	)	$	318		$	(592	)
Amortization of prior service cost (credit)	24			3			(366		)
Amortization of net loss (gain)	2,542			2,040			(429		)
Exchange rate effect on amounts in OCI	—			(2,645		)	35
Total	$	95		$	(284	)	$	(1,352	)

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.

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 $10.2 million, $10.1 million and $10.3 million for 2017, 2016 and 2015, respectively.

The Company, through its subsidiaries, participates in certain multi-employer pension plans covering approximately 355 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, $1.3 million, and $1.0 million for 2017, 2016 and 2015, respectively.

For measurement purposes, a 6.21% weighted average annual rate of increase in the per capita cost of covered health care benefits was assumed for 2017. The rate was assumed to decrease gradually each year to a rate of 4.50% for 2038, and remain at that level thereafter. Assumed health care cost trend rates have an 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 $0.2 million and the health care component of the accumulated postretirement benefit obligation by $2.3 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 $2.0 million.

Plan Assets

The Company’s pension plan weighted average asset allocations at December 31, 2017 and 2016, by asset category, were as follows:



	U.S. Plans				Non-U.S. Plans
	2017		2016		2017		2016
Equity securities	47	%	44	%	14	%	24	%
Fixed income securities	51	%	43	%	30	%	26	%
Cash/Commingled Funds/Other ⁽¹⁾	2	%	13	%	56	%	50	%
Total	100	%	100	%	100	%	100	%

The basis used to measure the defined benefit plans’ assets at fair value at December 31, 2017 and 2016 is summarized as follows:



	Basis of Fair Value Measurement
	Outstanding Balances		Level 1		Level 2		Level 3
As of December 31, 2017	(In thousands)
Equity
U.S. Large Cap	$	16,402	$	16,402	$	—	$	—
U.S. Small / Mid Cap	7,966		7,051		915		—
International	16,844		13,205		3,639		—
Fixed Income
U.S. Intermediate	13,568		13,483		85		—
U.S. Short Duration	13,362		13,362		—		—
U.S. High Yield	9,529		8,462		1,067		—
International	13,311		3,767		9,544		—
Other Commingled Funds ⁽¹⁾	16,059		—		—		16,059
Cash and Equivalents	2,613		1,346		1,267		—
Other	2,851		—		2,851		—
	$	112,505	$	77,078	$	19,368	$	16,059

(1) Other commingled funds represent pooled institutional investments in non-U.S. plans.



	Basis of Fair Value Measurement
	Outstanding Balances		Level 1		Level 2		Level 3
As of December 31, 2016	(In thousands)
Equity
U.S. Large Cap	$	15,345	$	15,345	$	—	$	—
U.S. Small / Mid Cap	8,920		7,111		1,809		—
International	16,282		10,647		5,635		—
Fixed Income
U.S. Intermediate	10,014		9,943		71		—
U.S. Short Duration	10,160		10,160		—		—
U.S. High Yield	9,343		7,924		1,419		—
International	10,310		3,627		6,683		—
Other Commingled Funds ⁽¹⁾	14,180		—		—		14,180
Cash and Equivalents	10,382		9,660		722		—
Other	1,338		—		1,338		—
	$	106,274	$	74,417	$	17,677	$	14,180

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 44%, and “fixed income” obligations, including cash, will constitute from 40% to 60% with a target of 56%. 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, 2017 and 2016, there were no shares of the Company’s stock held in plan assets.

Cash Flows

The Company expects to contribute approximately $5.5 million to its defined benefit plans and $0.1 million to its other postretirement benefit plans in 2018. The Company also expects to contribute approximately $11.0 million to its defined contribution plan and $8.5 million to its 401(k) savings plan in 2018.

Estimated Future Benefit Payments

The future estimated benefit payments for the next five years and the five years thereafter are as follows: 2018 — $13.6 million; 2019 — $11.0 million; 2020 — $11.3 million; 2021 — $11.0 million; 2022 — $11.0 million; 2022 to 2026 — $54.7 million.

Quarterly Results of Operations (Unaudited)

12 Months Ended

Dec. 31, 2017

Quarterly Financial Information Disclosure [Abstract]

Quarterly Results of Operations (Unaudited)

The unaudited quarterly results of operations for the years ended December 31, 2017 and 2016 are as follows:



	2017 Quarters								2016 Quarters
	First		Second		Third		Fourth		First		Second		Third		Fourth
	(In thousands, except per share amounts)
Net sales	$	553,552	$	573,366	$	574,490	$	585,904	$	502,572	$	549,696	$	530,356	$	530,419
Gross profit	250,941		256,925		257,930		260,882		223,335		244,058		230,889		232,485
Operating income	115,671		125,133		126,504		135,248		103,345		113,823		109,708		85,521
Net income	75,899		83,844		83,768		93,746		68,130		75,759		69,873		57,347
Basic EPS	$	0.99	$	1.10	$	1.09	$	1.23	$	0.90	$	1.00	$	0.92	$	0.75
Diluted EPS	$	0.99	$	1.08	$	1.08	$	1.21	$	0.89	$	0.99	$	0.91	$	0.75
Basic weighted average shares outstanding	76,115		76,220		76,309		76,283		75,749		75,690		75,819		75,955
Diluted weighted average shares outstanding	76,894		77,320		77,523		77,597		76,699		76,674		76,880		76,806

(1) Quarterly data includes acquisition of Akron Brass (March 2016), AWG Fittings (July 2016), SFC Koenig (September 2016) and thinXXS (December 2017) from the date of acquisition. Quarterly data also includes the gain/(loss) on the sale of Hydra-Stop (July 2016), CVI Japan (September 2016), IETG (October 2016), CVI Korea (December 2016) and Faure Herman (October 2017) and also the results of each divested business through the date of disposition.

Significant Accounting Policies (Policies)

12 Months Ended

Dec. 31, 2017

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 $15.8 million, $15.3 million and $16.1 million for 2017, 2016 and 2015, 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.

Accounts Receivable and Allowance for Doubtful Accounts

Inventories

Impairment of Long-Lived Assets

Goodwill and Indefinite-Lived Intangible Assets

Borrowing Expenses

Earnings per Common Share

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	6 to 20 years
Unpatented technology and other	6 to 20 years

Research and Development Expenditures

Costs associated with engineering activities, including research and development, are expensed in the period incurred and are included in Cost of sales.

Foreign Currency

Income Taxes

Concentration of Credit Risk

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

New Accounting Pronouncements

Recently Adopted Accounting Standards

New Accounting Pronouncements

Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2017

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:



	2017	2016	2015
	(In thousands)
Basic weighted average common shares outstanding	76,232	75,803	77,126
Dilutive effect of stock options, restricted stock and performance share units	1,101	955	846
Diluted weighted average common shares outstanding	77,333	76,758	77,972

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	6 to 20 years
Unpatented technology and other	6 to 20 years

Acquisitions and Divestitures (Tables)

12 Months Ended

Dec. 31, 2017

Business Combinations and Dispositions [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 at their respective acquisition dates, is as follows:



	Novotema			Alfa Valvole			CPS			Other		Total
(In thousands)
Accounts receivable	$	8,029		$	13,487		$	945		$	—	$	22,461
Inventory	2,886			11,036			442			1,102		15,466
Other assets, net of cash acquired	1,866			3,367			79			—		5,312
Property, plant and equipment	11,844			8,395			1,105			—		21,344
Goodwill	34,316			69,568			9,739			748		114,371
Intangible assets	20,011			32,058			12,290			—		64,359
Total assets acquired	78,952			137,911			24,600			1,850		243,313
Current liabilities	(7,760		)	(11,279		)	(420		)	—		(19,459		)
Deferred income taxes	(7,803		)	(12,622		)	—			—		(20,425		)
Other noncurrent liabilities	(2,291		)	(1,420		)	—			—		(3,711		)
Net assets acquired	$	61,098		$	112,590		$	24,180		$	1,850	$	199,718

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



	Akron Brass			AWG Fittings			SFC Koenig			Total
(In thousands)
Accounts receivable	$	14,523		$	5,867		$	9,190		$	29,580
Inventory	29,157			11,766			20,639			61,562
Other assets, net of cash acquired	446			565			4,501			5,512
Property, plant and equipment	12,195			6,595			4,637			23,427
Goodwill	124,643			22,055			141,298			287,996
Intangible assets	90,400			10,279			116,998			217,677
Deferred income taxes	—			3,928			—			3,928
Total assets acquired	271,364			61,055			297,263			629,682
Current liabilities	(7,081		)	(5,117		)	(11,704		)	(23,902		)
Deferred income taxes	(36,439		)	—			(36,168		)	(72,607		)
Other noncurrent liabilities	(6,445		)	(8,444		)	(8,283		)	(23,172		)
Net assets acquired	$	221,399		$	47,494		$	241,108		$	510,001

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	$	14,078	15
Customer relationships	134,519		13
Unpatented technology	40,280		13
Amortized intangible assets	188,877
Indefinite lived - Akron Brass trade name	28,800
Total acquired intangible assets	$	217,677

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



(In thousands, except weighted average life)	Total		Weighted Average Life
Trade names	$	9,247	15
Customer relationships	44,401		12
Unpatented technology	10,711		8
Total acquired intangible assets	$	64,359

Balance Sheet Components (Tables)

12 Months Ended

Dec. 31, 2017

Additional Financial Information Disclosure [Abstract]

Balance Sheet Components



	December 31,
	2017		2016
	(In thousands)
RECEIVABLES
Customers	$	297,796	$	275,250
Other	4,134		5,641
Total	301,930		280,891
Less allowance for doubtful accounts	7,764		8,078
Total receivables — net	$	294,166	$	272,813
INVENTORIES
Raw materials and components parts	$	169,676	$	154,278
Work in process	33,668		34,832
Finished goods	56,380		63,749
Total	$	259,724	$	252,859
PROPERTY, PLANT AND EQUIPMENT
Land and improvements	$	32,984	$	33,883
Buildings and improvements	175,467		169,261
Machinery, equipment and other	356,728		328,779
Office and transportation equipment	96,541		98,355
Construction in progress	14,715		10,373
Total	676,435		640,651
Less accumulated depreciation and amortization	418,085		392,835
Total property, plant and equipment — net	$	258,350	$	247,816
ACCRUED EXPENSES
Payroll and related items	$	75,869	$	67,600
Management incentive compensation	24,320		16,339
Income taxes payable	28,033		8,808
Insurance	9,424		9,416
Warranty	6,281		5,628
Deferred revenue	11,031		12,607
Restructuring	4,180		3,893
Liability for uncertain tax positions	1,745		1,366
Accrued interest	1,759		1,663
Other	22,063		25,532
Total accrued expenses	$	184,705	$	152,852
OTHER NONCURRENT LIABILITIES
Pension and retiree medical obligations	$	99,646	$	93,604
Transition tax payable	27,877		—
Liability for uncertain tax positions	1,047		2,623
Deferred revenue	3,297		2,442
Other	23,818		22,561
Total other noncurrent liabilities	$	155,685	$	121,230

Valuation and Qualifying Accounts

The valuation and qualifying account activity for the years ended December 31, 2017, 2016 and 2015 is as follows:



	2017			2016			2015
	(In thousands)
ALLOWANCE FOR DOUBTFUL ACCOUNTS ⁽¹⁾
Beginning balance January 1	$	8,078		$	7,812		$	6,961
Charged to costs and expenses, net of recoveries	720			1,425			1,556
Utilization	(1,418		)	(1,585		)	(1,009		)
Currency translation and other	384			426			304
Ending balance December 31	$	7,764		$	8,078		$	7,812


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

Goodwill and Intangible Assets (Tables)

12 Months Ended

Dec. 31, 2017

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Changes in the Carrying Amount of Goodwill

The changes in the carrying amount of goodwill for 2017 and 2016, by reportable business segment, were as follows:



	Fluid & Metering Technologies			Health & Science Technologies			Fire & Safety/ Diversified Products			Total
	(In thousands)
Goodwill	$	605,491		$	740,425		$	251,244		$	1,597,160
Accumulated goodwill impairment losses	(20,721		)	(149,820		)	(30,090		)	(200,631		)
Balance at January 1, 2016	584,770			590,605			221,154			1,396,529
Foreign currency translation	(5,951		)	(23,559		)	(7,972		)	(37,482		)
Acquisitions	—			143,719			146,674			290,393
Disposition of businesses	(3,759		)	(12,013		)	—			(15,772		)
Acquisition adjustments	(1,623		)	547			—			(1,076		)
Balance at December 31, 2016	573,437			699,299			359,856			1,632,592
Foreign currency translation	15,748			19,225			18,206			53,179
Acquisitions	—			23,929			—			23,929
Disposition of business	(3,121		)	—			—			(3,121		)
Acquisition adjustments	—			(2,421		)	—			(2,421		)
Balance at December 31, 2017	$	586,064		$	740,032		$	378,062		$	1,704,158

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, 2017 and 2016:



	At December 31, 2017								At December 31, 2016
	Gross Carrying Amount		Accumulated Amortization			Net		Weighted Average Life	Gross Carrying Amount		Accumulated Amortization			Net
			(In thousands)								(In thousands)
Amortized intangible assets:
Patents	$	9,633	$	(7,143	)	$	2,490	11	$	9,856	$	(6,635	)	$	3,221
Trade names	117,206		(50,604		)	66,602		16	113,428		(42,653		)	70,775
Customer relationships	317,316		(124,566		)	192,750		13	369,087		(161,065		)	208,022
Unpatented technology	91,166		(29,428		)	61,738		13	106,747		(44,516		)	62,231
Other	839		(573		)	266		10	6,527		(6,172		)	355
Total amortized intangible assets	536,160		(212,314		)	323,846			605,645		(261,041		)	344,604
Indefinite-lived intangible assets:
Banjo trade name	62,100		—			62,100			62,100		—			62,100
Akron Brass trade name	28,800		—			28,800			28,800		—			28,800
Total intangible assets	$	627,060	$	(212,314	)	$	414,746		$	696,545	$	(261,041	)	$	435,504

Borrowings (Tables)

12 Months Ended

Dec. 31, 2017

Debt Disclosure [Abstract]

Schedule of Borrowings

Borrowings at December 31, 2017 and 2016 consisted of the following:



	2017		2016
	(In thousands)
Revolving Facility	$	10,740	$	169,579
4.5% Senior Notes, due December 2020	300,000		300,000
4.2% Senior Notes, due December 2021	350,000		350,000
3.2% Senior Notes, due June 2023	100,000		100,000
3.37% Senior Notes, due June 2025	100,000		100,000
Other borrowings	1,446		1,294
Total borrowings	862,186		1,020,873
Less current portion	258		1,046
Less deferred debt issuance costs	2,204		4,399
Less unaccreted debt discount	936		1,193
Total long-term borrowings	$	858,788	$	1,014,235

Schedule of Maturities of Borrowings

Total borrowings at December 31, 2017 have scheduled maturities as follows:



(In thousands)
2018	$	1,436
2019	10
2020	310,740
2021	350,000
2022	—
Thereafter	200,000
Total borrowings	$	862,186

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

+ References

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+ Details

Derivative Instruments (Tables)

12 Months Ended

Dec. 31, 2017

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Derivative Instruments

The following table sets forth the fair value amounts of derivative instruments held by the Company as of December 31, 2017 and 2016:



	Fair Value Assets (Liabilities)
	December 31, 2017		December 31, 2016		Balance Sheet Caption
	(In thousands)
Foreign currency exchange contracts	$	5,779	$	—	Other current assets

- Definition

Tabular disclosure of pertinent information about a derivative or group of derivatives on a disaggregated basis, such as for individual instruments, or small groups of similar instruments. May include a combination of the type of instrument, risks being hedged, notional amount, hedge designation, related hedged item, inception date, maturity date, or other relevant item.

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Reference 1: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
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+ Details

Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2017

Fair Value Disclosures [Abstract]

Schedule of Company's Financial Assets and (Liabilities) at Fair Value on Recurring Basis

The following table summarizes the basis used to measure the Company’s financial assets (liabilities) at fair value on a recurring basis in the balance sheets at December 31, 2017 and 2016:



	Basis of Fair Value Measurements
	Balance at December 31, 2017		Level 1		Level 2		Level 3
	(In thousands)
Available for sale securities	$	6,742	$	6,742	$	—	$	—
Foreign currency exchange contracts	5,779		—		5,779		—



	Basis of Fair Value Measurements
	Balance at December 31, 2016		Level 1		Level 2		Level 3
	(In thousands)
Available for sale securities	$	5,369	$	5,369	$	—	$	—

Commitments and Contingencies (Tables)

12 Months Ended

Dec. 31, 2017

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, 2017 were as follows:



	Operating		Capital
	(In thousands)
2018	$	15,992	$	258
2019	12,064		10
2020	9,465		—
2021	6,904		—
2022	4,999		—
2023 and thereafter	15,435		—
	$	64,859	$	268

Roll Forward of the Warranty Reserve

A rollforward of the warranty reserve is as follows:



	2017			2016			2015
	(In thousands)
Beginning balance January 1	$	5,628		$	7,936		$	7,196
Provision for warranties	2,895			1,828			4,788
Claim settlements	(2,317		)	(3,539		)	(3,864		)
Other adjustments, including acquisitions, divestitures and currency translation	75			(597		)	(184		)
Ending balance December 31	$	6,281		$	5,628		$	7,936

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2017

Income Tax Disclosure [Abstract]

Schedule of Income Before Income Tax

Pretax income for 2017, 2016 and 2015 was taxed in the following jurisdictions:



	2017		2016		2015
	(In thousands)
U.S.	$	302,515	$	265,260	$	285,399
Foreign	152,758		103,252		106,946
Total	$	455,273	$	368,512	$	392,345

Schedule of Components of Income Tax

The provision (benefit) for income taxes for 2017, 2016 and 2015, was as follows:



	2017			2016			2015
	(In thousands)
Current
U.S.	$	91,641		$	67,668		$	73,059
State and local	9,342			4,503			6,188
Foreign	50,775			42,540			30,630
Total current	151,758			114,711			109,877
Deferred
U.S.	(36,390		)	(6,249		)	7,125
State and local	3,305			(331		)	(1,017		)
Foreign	(657		)	(10,728		)	(6,447		)
Total deferred	(33,742		)	(17,308		)	(339		)
Total provision for income taxes	$	118,016		$	97,403		$	109,538

Schedule of Deferred Tax Assets and Liabilities

Deferred tax assets (liabilities) at December 31, 2017 and 2016 were:



	2017			2016
	(In thousands)
Employee and retiree benefit plans	$	31,804		$	42,950
Capital loss carryforwards	12,853			18,668
Depreciation and amortization	(176,592		)	(238,321		)
Inventories	8,548			11,519
Allowances and accruals	4,572			9,338
Interest rate exchange agreement	5,007			10,442
Other	(8,019		)	(90		)
Total gross deferred tax (liabilities)	(121,827		)	(145,494		)
Capital loss valuation allowance	(12,853		)	(18,668		)
Total deferred tax (liabilities), net of valuation allowances	$	(134,680	)	$	(164,162	)

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, 2017 and 2016 were:



	2017			2016
	(In thousands)
Noncurrent deferred tax asset — Other noncurrent assets	$	2,958		$	2,265
Noncurrent deferred tax liabilities — Deferred income taxes	(137,638		)	(166,427		)
Net deferred tax liabilities	$	(134,680	)	$	(164,162	)

Schedule of Effective Income Tax Rate Reconciliation



	2017			2016			2015
	(In thousands)
Pretax income	$	455,273		$	368,512		$	392,345
Provision for income taxes
Computed amount at statutory rate of 35%	$	159,346		$	128,979		$	137,321
State and local income tax (net of federal tax benefit)	5,841			4,070			5,033
Taxes on non-U.S. earnings-net of foreign tax credits	(24,914		)	(6,666		)	(11,663		)
Effect of flow-through entities	192			(8,735		)	(8,358		)
U.S. business tax credits	(1,928		)	(1,665		)	(1,273		)
Domestic activities production deduction	(8,516		)	(9,043		)	(6,521		)
Deferred tax effect of foreign tax rate change	—			—			(2,636		)
Capital loss on divestitures	(2,275		)	(23,444		)	—
Share-based payments	(6,844		)	(6,520		)	—
Valuation allowance	(361		)	17,973			—
Impact of Tax Act	(100		)	—			—
Other	(2,425		)	2,454			(2,365		)
Total provision for income taxes	$	118,016		$	97,403		$	109,538

Schedule of Unrecognized Tax Benefits

A reconciliation of the beginning and ending amount of unrecognized tax benefits for 2017, 2016 and 2015 is as follows:



	2017			2016			2015
	(In thousands)
Beginning balance January 1	$	3,775		$	7,228		$	3,619
Gross increase due to non-U.S. acquisitions	—			—			3,772
Gross increases for tax positions of prior years	537			201			1,256
Gross decreases for tax positions of prior years	(587		)	(93		)	—
Settlements	(604		)	(2,014		)	(667		)
Lapse of statute of limitations	(399		)	(1,547		)	(752		)
Ending balance December 31	$	2,722		$	3,775		$	7,228

Business Segments and Geographic Information (Tables)

12 Months Ended

Dec. 31, 2017

Segment Reporting [Abstract]

Schedule of Information On Company's Business Segments



	2017			2016 ⁽⁴⁾			2015⁽⁴⁾
	(In thousands)
NET SALES
Fluid & Metering Technologies
External customers	$	880,648		$	848,708		$	859,945
Intersegment sales	309			393			847
Total segment sales	880,957			849,101			860,792
Health & Science Technologies
External customers	819,719			744,380			737,011
Intersegment sales	412			429			1,985
Total segment sales	820,131			744,809			738,996
Fire & Safety/Diversified Products
External customers	586,945			519,955			423,712
Intersegment sales	588			54			203
Total segment sales	587,533			520,009			423,915
Intersegment eliminations	(1,309		)	(876		)	(3,035		)
Total net sales	$	2,287,312		$	2,113,043		$	2,020,668
OPERATING INCOME (LOSS) ⁽¹⁾
Fluid & Metering Technologies	$	241,030		$	217,500		$	206,419
Health & Science Technologies	179,567			153,691			158,364
Fire & Safety/Diversified Products	147,028			123,605			117,346
Corporate office ⁽²⁾	(65,069		)	(82,399		)	(45,139		)
Total operating income	502,556			412,397			436,990
Interest expense	44,889			45,616			41,636
Other (income) expense - net	2,394			(1,731		)	3,009
Income before taxes	$	455,273		$	368,512		$	392,345



	2017		2016 ⁽⁴⁾		2015⁽⁴⁾
	(In thousands)
ASSETS
Fluid & Metering Technologies	$	1,101,580	$	1,065,670	$	1,125,266
Health & Science Technologies	1,323,373		1,266,036		1,108,302
Fire & Safety/Diversified Products	744,515		705,735		448,867
Corporate office	230,160		117,503		123,008
Total assets	$	3,399,628	$	3,154,944	$	2,805,443
DEPRECIATION AND AMORTIZATION ⁽³⁾
Fluid & Metering Technologies	$	23,587	$	28,458	$	27,662
Health & Science Technologies	45,287		45,298		42,827
Fire & Safety/Diversified Products	14,541		11,956		6,051
Corporate office and other	801		1,180		1,580
Total depreciation and amortization	$	84,216	$	86,892	$	78,120
CAPITAL EXPENDITURES
Fluid & Metering Technologies	$	18,218	$	16,389	$	22,846
Health & Science Technologies	16,340		15,665		13,104
Fire & Safety/Diversified Products	6,363		5,945		5,804
Corporate office and other	2,937		243		2,022
Total capital expenditures	$	43,858	$	38,242	$	43,776


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


(2)	2017 includes a $9.3 million gain on the sale of a business, 2016 includes a $22.3 million loss on the sale of businesses - net and 2015 includes an $18.1 million gain on the sale of a business.


(3)	Excludes amortization of debt issuance expenses.


(4)	Certain amounts in the prior year income statements have been reclassified to conform with the current presentation due to the early adoption of ASU 2017-07.

Schedule of Sales From External Customers and Long-Lived Assets



	2017		2016		2015
	(In thousands)
NET SALES
U.S.	$	1,158,889	$	1,067,333	$	1,015,277
North America, excluding U.S.	93,419		84,836		85,852
Europe	567,282		517,179		490,435
Asia	366,577		340,624		325,507
Other	101,145		103,071		103,597
Total net sales	$	2,287,312	$	2,113,043	$	2,020,668
LONG-LIVED ASSETS — PROPERTY, PLANT AND EQUIPMENT
U.S.	$	145,808	$	152,504	$	144,508
North America, excluding U.S.	3,627		1,533		643
Europe	85,932		71,681		69,082
Asia	22,613		21,793		26,498
Other	370		305		214
Total long-lived assets — net	$	258,350	$	247,816	$	240,945

Restructuring (Tables)

12 Months Ended

Dec. 31, 2017

Restructuring and Related Activities [Abstract]

Schedule of Pre-Tax Restructuring Expenses By Segment

Pre-tax restructuring expenses by segment for the 2017 initiative were as follows:



	Severance Costs		Exit Costs		Total
	(In thousands)
Fluid & Metering Technologies	$	1,375	$	433	$	1,808
Health & Science Technologies	1,510		158		1,668
Fire & Safety/Diversified Products	182		—		182
Corporate/Other	—		—		—
Total restructuring costs	$	3,067	$	591	$	3,658

Pre-tax restructuring expenses, comprised solely of severance costs, by segment for the 2015 initiative were as follows:



		Total Restructuring Costs
	(In thousands)
Fluid & Metering Technologies		$	7,090
Health & Science Technologies		3,408
Fire & Safety/Diversified Products		576
Corporate/Other		165
Total restructuring costs		$	11,239

Pre-tax restructuring expenses by segment for the 2016 initiative were as follows:



	2017						2016
	Severance Costs		Exit Costs		Total Restructuring Costs		Total Restructuring Costs
	(In thousands)
Fluid & Metering Technologies	$	1,566	$	—	$	1,566	$	932
Health & Science Technologies	2,470		558		3,028		1,117
Fire & Safety/Diversified Products	73		—		73		1,425
Corporate/Other	130		—		130		200
Total restructuring costs	$	4,239	$	558	$	4,797	$	3,674

Schedule of Restructuring Accruals Expenses

Restructuring accruals of $4.2 million and $3.9 million at December 31, 2017 and 2016, respectively, are reflected in Accrued expenses in our Consolidated Balance Sheets as follows:



	Restructuring Initiatives
	(In thousands)
Balance at January 1, 2016	$	6,636
Restructuring expenses	3,674
Payments, utilization and other	(6,417		)
Balance at December 31, 2016	3,893
Restructuring expenses	8,455
Payments, utilization and other	(8,168		)
Balance at December 31, 2017	$	4,180

Share-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2017

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 are as follows:



	Years Ended December 31,
	2017	2016	2015
Weighted average fair value of grants	$24.19	$18.56	$20.32
Dividend yield	1.45%	1.69%	1.45%
Volatility	29.41%	29.70%	29.90%
Risk-free interest rate	0.83% - 3.04%	0.53% - 2.49%	0.24% - 2.82%
Expected life (in years)	5.83	5.91	5.93

Schedule of Stock Option Activity

A summary of the Company’s stock option activity as of December 31, 2017, and changes during the year ended December 31, 2017 is presented as follows:



Stock Options	Shares		Weighted Average Price		Weighted-Average Remaining Contractual Term	Aggregate Intrinsic Value
Outstanding at January 1, 2017	1,987,946		$	61.83	6.84	$	56,144,876
Granted	441,990		93.48
Exercised	(448,189	)	51.17
Forfeited/Expired	(57,064	)	79.14
Outstanding at December 31, 2017	1,924,683		$	71.07	6.87	$	117,209,218
Vested and expected to vest at December 31, 2017	1,823,279		$	70.26	6.77	$	112,521,086
Exercisable at December 31, 2017	898,003		$	57.21	5.27	$	67,130,223

Schedule of Compensation Cost for Stock Options

Total compensation cost for stock options is recorded in the Consolidated Statements of Operations as follows:



	Years Ended December 31,
	2017			2016			2015
	(In thousands)
Cost of goods sold	$	428		$	427		$	543
Selling, general and administrative expenses	7,347			6,561			6,488
Total expense before income taxes	7,775			6,988			7,031
Income tax benefit	(2,485		)	(2,213		)	(2,208		)
Total expense after income taxes	$	5,290		$	4,775		$	4,823

Schedule of Restricted Stock Activity

A summary of the Company’s restricted stock activity as of December 31, 2017, and changes during the year ending December 31, 2017 is as follows:



Restricted Stock	Shares		Weighted-Average Grant Date Fair Value
Unvested at January 1, 2017	217,898		$	76.19
Granted	59,315		93.75
Vested	(82,420	)	72.42
Forfeited	(12,770	)	79.80
Unvested at December 31, 2017	182,023		$	83.37

Schedule of Compensation Cost for Restricted Stock

Total compensation cost for restricted stock is recorded in the Consolidated Statements of Operations as follows:



	Years Ended December 31,
	2017			2016			2015
	(In thousands)
Cost of goods sold	$	335		$	390		$	341
Selling, general and administrative expenses	4,772			4,401			5,213
Total expense before income taxes	5,107			4,791			5,554
Income tax benefit	(1,654		)	(1,410		)	(1,604		)
Total expense after income taxes	$	3,453		$	3,381		$	3,950

Schedule of Unvested Cash-settled Restricted Stock Activity

A summary of the Company’s unvested cash-settled restricted stock activity as of December 31, 2017, and changes during the year ending December 31, 2017 is as follows:



Cash-Settled Restricted Stock	Shares		Weighted-Average Fair Value
Unvested at January 1, 2017	103,790		$	90.06
Granted	34,530		93.92
Vested	(27,050	)	92.44
Forfeited	(16,540	)	122.31
Unvested at December 31, 2017	94,730		$	131.97

Schedule of Compensation Cost for Unvested Cash-settled Restricted Stock

Total compensation cost for cash-settled restricted stock is recorded in the Consolidated Statements of Operations as follows:



	Years Ended December 31,
	2017			2016			2015
	(In thousands)
Cost of goods sold	$	1,357		$	764		$	753
Selling, general and administrative expenses	3,241			2,224			1,765
Total expense before income taxes	4,598			2,988			2,518
Income tax benefit	(808		)	(419		)	(355		)
Total expense after income taxes	$	3,790		$	2,569		$	2,163

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 as follows:



	Years Ended December 31,
	2017	2016	2015
Weighted average fair value of grants	$115.74	$111.42	$95.07
Dividend yield	—%	—%	—%
Volatility	17.36%	17.99%	19.14%
Risk-free interest rate	1.45%	0.89%	1.01%
Expected life (in years)	2.85	2.86	2.86

Schedule of Performance Shares Units Activity

A summary of the Company’s performance share unit activity as of December 31, 2017, and changes during the year ending December 31, 2017, is as follows:



Performance Share Units	Shares		Weighted-Average Grant Date Fair Value
Unvested at January 1, 2017	137,055		$	104.18
Granted	65,530		115.74
Vested	(62,755	)	95.81
Forfeited	(2,960	)	109.75
Unvested at December 31, 2017	136,870		$	113.81

Performance Shares Units

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

Schedule of Employee Service Share-based Compensation, Allocation of Recognized Period Costs

Total compensation cost for performance share units is as follows:



	Years Ended December 31,
	2017			2016			2015
	(In thousands)
Cost of goods sold	$	—		$	—		$	—
Selling, general and administrative expenses	6,925			5,559			4,946
Total expense before income taxes	6,925			5,559			4,946
Income tax benefit	(2,342		)	(1,859		)	(1,670		)
Total expense after income taxes	$	4,583		$	3,700		$	3,276

Other Comprehensive Income (Loss) (Tables)

12 Months Ended

Dec. 31, 2017

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, 2017									For the Year Ended December 31, 2016
	Pre-tax			Tax			Net of tax			Pre-tax			Tax			Net of tax
	(In thousands)
Foreign currency translation adjustments
Cumulative translation adjustment	$	110,421		$	—		$	110,421		$	(76,822	)	$	—		$	(76,822	)
Reclassification of foreign currency translation to earnings upon sale of business	2,749			—			2,749			14,257			—			14,257
Tax effect of reversal of indefinite assertion on certain intercompany loans	(3,932		)	—			(3,932		)	—			—			—
Foreign currency translation adjustments	109,238			—			109,238			(62,565		)	—			(62,565		)
Pension and other postretirement adjustments
Net gain (loss) arising during the year	(5,355		)	828			(4,527		)	(1,927		)	789			(1,138		)
Amortization/recognition of settlement loss	3,814			(589		)	3,225			7,083			(2,896		)	4,187
Pension and other postretirement adjustments	(1,541		)	239			(1,302		)	5,156			(2,107		)	3,049
Reclassification adjustments for derivatives	6,655			(2,445		)	4,210			6,851			(2,490		)	4,361
Total other comprehensive income (loss)	$	114,352		$	(2,206	)	$	112,146		$	(50,558	)	$	(4,597	)	$	(55,155	)



	For the Year Ended December 31, 2015
	Pre-tax			Tax			Net of tax
	(In thousands)
Foreign currency translation adjustments
Cumulative translation adjustment	$	(63,441	)	$	—		$	(63,441	)
Reclassification of foreign currency translation to earnings upon sale of business	(4,725		)	—			(4,725		)
Pension and other postretirement adjustments
Net gain (loss) arising during the year	8,318			(2,411		)	5,907
Amortization/recognition of settlement loss	4,939			(1,431		)	3,508
Pension and other postretirement adjustments, net	13,257			(3,842		)	9,415
Reclassification adjustments for derivatives	7,030			(2,499		)	4,531
Total other comprehensive income (loss)	$	(47,879	)	$	(6,341	)	$	(54,220	)

Reclassification out of Accumulated Other Comprehensive Income

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



	For the Year Ended December 31,
	2017			2016			2015			Income Statement Caption
Foreign currency translation:
Reclassification upon sale of business	$	2,749		$	14,257		$	(4,725	)	Loss (gain) on sale of businesses - net
Total before tax	2,749			14,257			(4,725		)
Provision for income taxes	—			—			—
Total net of tax	$	2,749		$	14,257		$	(4,725	)
Pension and other postretirement plans:
Amortization of service cost	$	3,580		$	3,529		$	4,939		Other (income) expense - net
Recognition of settlement loss	234			3,554			—			Other (income) expense - net
Total before tax	3,814			7,083			4,939
Provision for income taxes	(589		)	(2,896		)	(1,431		)
Total net of tax	$	3,225		$	4,187		$	3,508
Derivatives:
Reclassification adjustments	$	6,655		$	6,851		$	7,030		Interest expense
Total before tax	6,655			6,851			7,030
Provision for income taxes	(2,445		)	(2,490		)	(2,499		)
Total net of tax	$	4,210		$	4,361		$	4,531

Retirement Benefits (Tables)

12 Months Ended

Dec. 31, 2017

Defined Benefit Plan Disclosure [Line Items]

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



	Pension Benefits												Other Benefits
	2017						2016						2017			2016
	U.S.			Non-U.S.			U.S.			Non-U.S.
	(In thousands)
CHANGE IN BENEFIT OBLIGATION
Obligation at January 1	$	90,256		$	87,764		$	98,476		$	58,063		$	24,636		$	20,400
Service cost	976			1,975			1,016			1,627			610			601
Interest cost	2,677			1,283			3,043			1,429			818			811
Plan amendments	—			—			—			—			—			—
Benefits paid	(6,258		)	(1,942		)	(3,140		)	(2,023		)	(738		)	(718		)
Actuarial loss (gain)	3,684			(15		)	1,987			6,844			592			(1,990		)
Currency translation	—			9,323			—			(6,988		)	150			52
Settlements	—			(2,452		)	(11,126		)	(819		)	—			—
Acquisition/Divestiture	—			(482		)	—			29,491			—			5,480
Other	—			1,997			—			140			—			—
Obligation at December 31	$	91,335		$	97,451		$	90,256		$	87,764		$	26,068		$	24,636
CHANGE IN PLAN ASSETS
Fair value of plan assets at January 1	$	73,688		$	32,586		$	77,575		$	20,645		$	—		$	—
Actual return on plan assets	5,046			1,792			6,740			2,470			—			—
Employer contributions	3,565			2,702			3,639			1,974			738			718
Benefits paid	(6,258		)	(1,942		)	(3,140		)	(2,023		)	(738		)	(718		)
Currency translation	—			2,446			—			(4,108		)	—			—
Settlements	—			(2,452		)	(11,126		)	(819		)	—			—
Acquisition/Divestiture	—			—			—			14,307			—			—
Other	—			1,184			—			140			—			—
Fair value of plan assets at December 31	$	76,041		$	36,316		$	73,688		$	32,586		$	—		$	—
Funded status at December 31	$	(15,294	)	$	(61,135	)	$	(16,568	)	$	(55,178	)	$	(26,068	)	$	(24,636	)
COMPONENTS ON THE CONSOLIDATED BALANCE SHEETS
Current liabilities	$	(658	)	$	(1,159	)	$	(729	)	$	(1,005	)	$	(1,034	)	$	(1,044	)
Other noncurrent liabilities	(14,636		)	(59,976		)	(15,839		)	(54,173		)	(25,034		)	(23,592		)
Net liability at December 31	$	(15,294	)	$	(61,135	)	$	(16,568	)	$	(55,178	)	$	(26,068	)	$	(24,636	)

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, 2017 and 2016 were as follows:



	U.S. Plans				Non-U.S. Plans
	2017		2016		2017		2016
Discount rate	3.46	%	3.91	%	1.82	%	1.76	%
Rate of compensation increase	4.00	%	4.00	%	2.37	%	2.29	%

Pretax Amounts Recognized in Accumulated Other Comprehensive Income (Loss)

The pretax amounts recognized in Accumulated other comprehensive income (loss) on the Consolidated Balance Sheets as of December 31, 2017 and 2016 were as follows:



	Pension Benefits								Other Benefits
	2017				2016				2017			2016
	U.S.		Non-U.S.		U.S.		Non-U.S.
	(In thousands)
Prior service cost (credit)	$	86	$	18	$	110	$	77	$	(483	)	$	(849	)
Net loss	27,789		17,986		27,860		17,643		(2,866		)	(3,852		)
Total	$	27,875	$	18,004	$	27,970	$	17,720	$	(3,349	)	$	(4,701	)

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



	U.S. Pension Benefit Plans		Non-U.S. Pension Benefit Plans		Other Benefit Plans			Total
	(In thousands)
Prior service cost (credit)	$	24	$	3	$	(366	)	$	(339	)
Net loss	2,716		1,282		(371		)	3,627
Total	$	2,740	$	1,285	$	(737	)	$	3,288

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



	U.S. Plans						Non-U.S. Plans
	2017		2016		2015		2017		2016		2015
Discount rate	3.91	%	4.12	%	3.78	%	1.76	%	2.99	%	2.66	%
Expected return on plan assets	5.50	%	6.50	%	6.50	%	3.20	%	4.58	%	5.19	%
Rate of compensation increase	4.00	%	4.00	%	4.00	%	2.29	%	2.98	%	3.00	%

Pension Plan Weighted Average Asset Allocations

The Company’s pension plan weighted average asset allocations at December 31, 2017 and 2016, by asset category, were as follows:



	U.S. Plans				Non-U.S. Plans
	2017		2016		2017		2016
Equity securities	47	%	44	%	14	%	24	%
Fixed income securities	51	%	43	%	30	%	26	%
Cash/Commingled Funds/Other ⁽¹⁾	2	%	13	%	56	%	50	%
Total	100	%	100	%	100	%	100	%

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

The basis used to measure the defined benefit plans’ assets at fair value at December 31, 2017 and 2016 is summarized as follows:



	Basis of Fair Value Measurement
	Outstanding Balances		Level 1		Level 2		Level 3
As of December 31, 2017	(In thousands)
Equity
U.S. Large Cap	$	16,402	$	16,402	$	—	$	—
U.S. Small / Mid Cap	7,966		7,051		915		—
International	16,844		13,205		3,639		—
Fixed Income
U.S. Intermediate	13,568		13,483		85		—
U.S. Short Duration	13,362		13,362		—		—
U.S. High Yield	9,529		8,462		1,067		—
International	13,311		3,767		9,544		—
Other Commingled Funds ⁽¹⁾	16,059		—		—		16,059
Cash and Equivalents	2,613		1,346		1,267		—
Other	2,851		—		2,851		—
	$	112,505	$	77,078	$	19,368	$	16,059

(1) Other commingled funds represent pooled institutional investments in non-U.S. plans.



	Basis of Fair Value Measurement
	Outstanding Balances		Level 1		Level 2		Level 3
As of December 31, 2016	(In thousands)
Equity
U.S. Large Cap	$	15,345	$	15,345	$	—	$	—
U.S. Small / Mid Cap	8,920		7,111		1,809		—
International	16,282		10,647		5,635		—
Fixed Income
U.S. Intermediate	10,014		9,943		71		—
U.S. Short Duration	10,160		10,160		—		—
U.S. High Yield	9,343		7,924		1,419		—
International	10,310		3,627		6,683		—
Other Commingled Funds ⁽¹⁾	14,180		—		—		14,180
Cash and Equivalents	10,382		9,660		722		—
Other	1,338		—		1,338		—
	$	106,274	$	74,417	$	17,677	$	14,180

Net Periodic Benefit Cost

Defined Benefit Plan Disclosure [Line Items]

Pretax Amounts Recognized in Accumulated Other Comprehensive Income (Loss)

The pretax change recognized in Accumulated other comprehensive income (loss) on the Consolidated Balance Sheet in 2017 is as follows:



	Pension Benefits						Other Benefits
	U.S.			Non-U.S.
	(In thousands)
Net gain (loss) in current year	$	(2,471	)	$	318		$	(592	)
Amortization of prior service cost (credit)	24			3			(366		)
Amortization of net loss (gain)	2,542			2,040			(429		)
Exchange rate effect on amounts in OCI	—			(2,645		)	35
Total	$	95		$	(284	)	$	(1,352	)

Pension Benefit Plan

Defined Benefit Plan Disclosure [Line Items]

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

The components of, and the weighted average assumptions used to determine, the net periodic benefit cost for the plans in 2017, 2016 and 2015 are as follows:



	Pension Benefits
	2017						2016						2015
	U.S.			Non-U.S.			U.S.			Non-U.S.			U.S.			Non-U.S.
	(In thousands)
Service cost	$	976		$	1,975		$	1,016		$	1,627		$	1,279		$	1,506
Interest cost	2,677			1,283			3,043			1,429			3,770			1,734
Expected return on plan assets	(3,832		)	(1,088		)	(4,777		)	(993		)	(4,910		)	(1,114		)
Settlement loss recognized	—			234			3,339			215			—			—
Net amortization	2,566			1,809			3,226			1,008			3,422			1,931
Net periodic benefit cost	$	2,387		$	4,213		$	5,847		$	3,286		$	3,561		$	4,057

Other Benefit Plans

Defined Benefit Plan Disclosure [Line Items]

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



	Other Benefits
	2017			2016			2015
	(In thousands)
Service cost	$	610		$	601		$	673
Interest cost	818			811			833
Net amortization	(795		)	(705		)	(414		)
Net periodic benefit cost	$	633		$	707		$	1,092

Quarterly Results of Operations (Unaudited) (Tables)

12 Months Ended

Dec. 31, 2017

Quarterly Financial Information Disclosure [Abstract]

Summarized Quarterly Results of Operations

The unaudited quarterly results of operations for the years ended December 31, 2017 and 2016 are as follows:



	2017 Quarters								2016 Quarters
	First		Second		Third		Fourth		First		Second		Third		Fourth
	(In thousands, except per share amounts)
Net sales	$	553,552	$	573,366	$	574,490	$	585,904	$	502,572	$	549,696	$	530,356	$	530,419
Gross profit	250,941		256,925		257,930		260,882		223,335		244,058		230,889		232,485
Operating income	115,671		125,133		126,504		135,248		103,345		113,823		109,708		85,521
Net income	75,899		83,844		83,768		93,746		68,130		75,759		69,873		57,347
Basic EPS	$	0.99	$	1.10	$	1.09	$	1.23	$	0.90	$	1.00	$	0.92	$	0.75
Diluted EPS	$	0.99	$	1.08	$	1.08	$	1.21	$	0.89	$	0.99	$	0.91	$	0.75
Basic weighted average shares outstanding	76,115		76,220		76,309		76,283		75,749		75,690		75,819		75,955
Diluted weighted average shares outstanding	76,894		77,320		77,523		77,597		76,699		76,674		76,880		76,806

(1) Quarterly data includes acquisition of Akron Brass (March 2016), AWG Fittings (July 2016), SFC Koenig (September 2016) and thinXXS (December 2017) from the date of acquisition. Quarterly data also includes the gain/(loss) on the sale of Hydra-Stop (July 2016), CVI Japan (September 2016), IETG (October 2016), CVI Korea (December 2016) and Faure Herman (October 2017) and also the results of each divested business through the date of disposition.

Significant Accounting Policies - Additional Information (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2017 USD ($) unit segment shares	Dec. 31, 2016 USD ($) shares	Dec. 31, 2015 USD ($) shares
Accounting Policies [Abstract]
Number of reportable segments \| segment	3
Advertising costs	$ 15,800	$ 15,300	$ 16,100
Asset impairments	$ 0	$ 205	$ 795
Number of reporting units \| unit	13
Option to purchase common stock shares not included in the computation of diluted EPS (in shares) \| shares	0	900,000	900,000
Engineering expense	$ 76,400	$ 68,800	$ 61,200
Research and development expense	42,400	39,400	33,600
Business Combination, Separately Recognized Transactions [Line Items]
Foreign currency transaction (gain) loss	$ 20,500	(6,200)	(100)
Percentage of concentration risk	2.00%
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Other (income) expense - net	$ (2,394)	1,731	(3,009)
Selling, general and administrative expenses	(524,940)	(492,398)	(474,156)
SFC-Koenig
Business Combination, Separately Recognized Transactions [Line Items]
Foreign currency transaction (gain) loss	$ 20,200
Accounting Standards Update 2017-17 \| New Accounting Pronouncement, Early Adoption, Effect
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Other (income) expense - net		6,600	5,300
Selling, general and administrative expenses		$ 6,600	$ 5,300

Significant Accounting Policies - Schedule of Basic Weighted Average Shares Reconciles to Diluted Weighted Average Shares Outstanding (Details) - shares shares in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Accounting Policies [Abstract]
Basic weighted average common shares outstanding	76,283	76,309	76,220	76,115	75,955	75,819	75,690	75,749	76,232	75,803	77,126
Dilutive effect of stock options, restricted stock and performance share units									1,101	955	846
Diluted weighted average common shares outstanding	77,597	77,523	77,320	76,894	76,806	76,880	76,674	76,699	77,333	76,758	77,972

Significant Accounting Policies - Property And Equipment at Cost Depreciation and Amortization Estimated Useful Lives (Details)	12 Months Ended
	Dec. 31, 2017
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

Significant Accounting Policies - Intangible Asset Depreciation and Amortization Estimated Useful Lives (Details)	12 Months Ended
	Dec. 31, 2017
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	13 years
Customer Relationships \| Minimum
Finite-Lived Intangible Assets [Line Items]
Estimated useful life	6 years
Customer Relationships \| Maximum
Finite-Lived Intangible Assets [Line Items]
Estimated useful life	20 years
Unpatented technology and other
Finite-Lived Intangible Assets [Line Items]
Estimated useful life	13 years
Unpatented technology and other \| Minimum
Finite-Lived Intangible Assets [Line Items]
Estimated useful life	6 years
Unpatented technology and other \| Maximum
Finite-Lived Intangible Assets [Line Items]
Estimated useful life	20 years

Acquisitions and Divestitures - Additional Information (Details) $ in Thousands, € in Millions													1 Months Ended		3 Months Ended								6 Months Ended	12 Months Ended
	Dec. 08, 2017 USD ($)	Aug. 31, 2016 EUR (€)	Aug. 31, 2016 USD ($)	Jul. 01, 2016 EUR (€)	Jul. 01, 2016 USD ($)	Mar. 16, 2016 USD ($)	Dec. 01, 2015 USD ($)	Jul. 01, 2015 USD ($)	Jun. 10, 2015 EUR (€)	Jun. 10, 2015 USD ($)	May 29, 2015 EUR (€)	May 29, 2015 USD ($)	Jun. 30, 2016 USD ($)	Mar. 31, 2016 USD ($)	Dec. 31, 2017 USD ($)	Sep. 30, 2017 USD ($)	Jun. 30, 2017 USD ($)	Mar. 31, 2017 USD ($)	Dec. 31, 2016 USD ($)	Sep. 30, 2016 USD ($)	Jun. 30, 2016 USD ($)	Mar. 31, 2016 USD ($)	Jun. 30, 2016 USD ($)	Dec. 31, 2017 USD ($)	Dec. 31, 2016 USD ($)	Dec. 31, 2015 USD ($)
Business Acquisition [Line Items]
Goodwill			$ 287,996												$ 1,704,158				$ 1,632,592					$ 1,704,158	$ 1,632,592	$ 1,396,529
Intangible assets			217,677
Indefinite-lived Intangible assets acquired																									28,800
Contingent consideration for acquisition																								0	0	4,705
Revenues															$ 585,904	$ 574,490	$ 573,366	$ 553,552	$ 530,419	$ 530,356	$ 549,696	$ 502,572		2,287,312	2,113,043	2,020,668
Selling, general and administrative expenses
Business Acquisition [Line Items]
Acquisition related costs																								1,300	$ 4,700	2,600
Cost of goods sold
Business Acquisition [Line Items]
Fair value of inventory charges associated with acquisitions																								$ 14,700		$ 3,400
thinXXS
Business Acquisition [Line Items]
Business combination, cash consideration paid	$ 38,200
Debt assumed	1,200
Goodwill	23,900
Intangible assets	$ 11,800
Akron Brass
Business Acquisition [Line Items]
Business combination, cash consideration paid						$ 221,400
Goodwill						124,643
Intangible assets						$ 90,400
AWG Fittings
Business Acquisition [Line Items]
Business combination, cash consideration paid				€ 42.8	$ 47,500
Goodwill					22,055
Intangible assets					$ 10,279
SFC-Koenig
Business Acquisition [Line Items]
Business combination, cash consideration paid		€ 215.9	241,100
Goodwill			141,298
Intangible assets			$ 116,998
Novotema
Business Acquisition [Line Items]
Business combination, cash consideration paid											€ 56.0	$ 61,100
Goodwill												34,316
Intangible assets												$ 20,011
Alfa Valvole
Business Acquisition [Line Items]
Business combination, cash consideration paid									€ 99.8	$ 112,600
Goodwill										69,568
Intangible assets										$ 32,058
CPS
Business Acquisition [Line Items]
Business combination, cash consideration paid								$ 19,500
Goodwill								9,739
Intangible assets								12,290
Aggregate purchase price								24,200
Business combination, range of outcomes, value, high								4,700
CPS \| Minimum
Business Acquisition [Line Items]
Contingent consideration for acquisition								0
CPS \| Maximum
Business Acquisition [Line Items]
Contingent consideration for acquisition								$ 5,500
CPS \| Selling, general and administrative expenses
Business Acquisition [Line Items]
Change in amount of contingent consideration, liability													$ (1,000)	$ (3,700)									$ (4,700)
Complementary Product Line
Business Acquisition [Line Items]
Goodwill							$ 700
Aggregate purchase price							$ 1,900

Acquisitions and Divestitures - Allocation of Acquisition Costs to Assets Acquired and Liabilities Assumed (Details) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016	Aug. 31, 2016	Jul. 01, 2016	Mar. 16, 2016	Dec. 31, 2015	Jul. 01, 2015	Jun. 10, 2015	May 29, 2015
Business Acquisition [Line Items]
Accounts receivable			$ 29,580
Inventory			61,562
Other current assets, net of cash acquired			5,512
Property, plant and equipment			23,427
Goodwill	$ 1,704,158	$ 1,632,592	287,996			$ 1,396,529
Intangible assets			217,677
Deferred income taxes			3,928
Total assets acquired			629,682
Current liabilities			(23,902)
Deferred income taxes			(72,607)
Other noncurrent liabilities			(23,172)
Net assets acquired			510,001
Akron Brass
Business Acquisition [Line Items]
Accounts receivable					$ 14,523
Inventory					29,157
Other current assets, net of cash acquired					446
Property, plant and equipment					12,195
Goodwill					124,643
Intangible assets					90,400
Deferred income taxes					0
Total assets acquired					271,364
Current liabilities					(7,081)
Deferred income taxes					(36,439)
Other noncurrent liabilities					(6,445)
Net assets acquired					$ 221,399
AWG Fittings
Business Acquisition [Line Items]
Accounts receivable				$ 5,867
Inventory				11,766
Other current assets, net of cash acquired				565
Property, plant and equipment				6,595
Goodwill				22,055
Intangible assets				10,279
Deferred income taxes				3,928
Total assets acquired				61,055
Current liabilities				(5,117)
Deferred income taxes				0
Other noncurrent liabilities				(8,444)
Net assets acquired				$ 47,494
SFC-Koenig
Business Acquisition [Line Items]
Accounts receivable			9,190
Inventory			20,639
Other current assets, net of cash acquired			4,501
Property, plant and equipment			4,637
Goodwill			141,298
Intangible assets			116,998
Deferred income taxes			0
Total assets acquired			297,263
Current liabilities			(11,704)
Deferred income taxes			(36,168)
Other noncurrent liabilities			(8,283)
Net assets acquired			$ 241,108
Novotema
Business Acquisition [Line Items]
Accounts receivable									$ 8,029
Inventory									2,886
Other current assets, net of cash acquired									1,866
Property, plant and equipment									11,844
Goodwill									34,316
Intangible assets									20,011
Total assets acquired									78,952
Current liabilities									(7,760)
Deferred income taxes									(7,803)
Other noncurrent liabilities									(2,291)
Net assets acquired									$ 61,098
Alfa Valvole
Business Acquisition [Line Items]
Accounts receivable								$ 13,487
Inventory								11,036
Other current assets, net of cash acquired								3,367
Property, plant and equipment								8,395
Goodwill								69,568
Intangible assets								32,058
Total assets acquired								137,911
Current liabilities								(11,279)
Deferred income taxes								(12,622)
Other noncurrent liabilities								(1,420)
Net assets acquired								$ 112,590
CPS
Business Acquisition [Line Items]
Accounts receivable							$ 945
Inventory							442
Other current assets, net of cash acquired							79
Property, plant and equipment							1,105
Goodwill							9,739
Intangible assets							12,290
Total assets acquired							24,600
Current liabilities							(420)
Deferred income taxes							0
Other noncurrent liabilities							0
Net assets acquired							$ 24,180
Other
Business Acquisition [Line Items]
Accounts receivable						0
Inventory						1,102
Other current assets, net of cash acquired						0
Property, plant and equipment						0
Goodwill						748
Intangible assets						0
Total assets acquired						1,850
Current liabilities						0
Deferred income taxes						0
Other noncurrent liabilities						0
Net assets acquired						1,850
Acquisitions in 2015
Business Acquisition [Line Items]
Accounts receivable						22,461
Inventory						15,466
Other current assets, net of cash acquired						5,312
Property, plant and equipment						21,344
Goodwill						114,371
Intangible assets						64,359
Total assets acquired						243,313
Current liabilities						(19,459)
Deferred income taxes						(20,425)
Other noncurrent liabilities						(3,711)
Net assets acquired						$ 199,718

Acquisitions and Divestitures - Acquired Intangible Assets and Weighted Average Amortization Periods (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Acquired Finite-Lived Intangible Assets [Line Items]
Amortized intangible assets	$ 188,877	$ 64,359
Indefinite lived	28,800
Total acquired intangible assets	217,677
Trade Names
Acquired Finite-Lived Intangible Assets [Line Items]
Amortized intangible assets	$ 14,078	$ 9,247
Weighted Average Life	15 years	15 years
Customer Relationships
Acquired Finite-Lived Intangible Assets [Line Items]
Amortized intangible assets	$ 134,519	$ 44,401
Weighted Average Life	13 years	12 years
Unpatented technology
Acquired Finite-Lived Intangible Assets [Line Items]
Amortized intangible assets	$ 40,280	$ 10,711
Weighted Average Life	13 years	8 years

Acquisitions and Divestitures - Divestitures (Details) - USD ($)							3 Months Ended								7 Months Ended		8 Months Ended	9 Months Ended	10 Months Ended	12 Months Ended
	Oct. 31, 2017	Dec. 30, 2016	Oct. 10, 2016	Sep. 09, 2016	Jul. 29, 2016	Jul. 31, 2015	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Jul. 29, 2016	Jul. 31, 2015	Sep. 09, 2016	Oct. 10, 2016	Oct. 31, 2017	Dec. 31, 2017	Dec. 31, 2016	Dec. 30, 2016	Dec. 31, 2015
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Proceeds from sale of businesses, net of cash sold																				$ 21,795,000	$ 39,064,000		$ 27,677,000
Income tax expense (benefit)																				118,016,000	97,403,000		109,538,000
Revenues							$ 585,904,000	$ 574,490,000	$ 573,366,000	$ 553,552,000	$ 530,419,000	$ 530,356,000	$ 549,696,000	$ 502,572,000						2,287,312,000	2,113,043,000		2,020,668,000
Disposed of by Sale \| Faure Herman
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Proceeds from sale of businesses, net of cash sold	$ 21,800,000
Pre-tax gain (loss) on the sale	$ 9,300,000
Income tax expense (benefit)																				$ 0
Revenues																			$ 14,100,000
Disposed of by Sale \| Hydra-Stop
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Proceeds from sale of businesses, net of cash sold					$ 15,000,000
Pre-tax gain (loss) on the sale					5,800,000
Income tax expense (benefit)																					2,800,000
Additional proceeds from disposition of business					$ 1,000,000
Possible additions																					1,000,000
Revenues															$ 7,500,000
Disposed of by Sale \| Melles Griot KK
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Proceeds from sale of businesses, net of cash sold				$ 17,500,000
Pre-tax gain (loss) on the sale				$ (7,900,000)
Income tax expense (benefit)																					(3,400,000)
Revenues																	$ 13,100,000
Disposed of by Sale \| IETG and 40Seven
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Proceeds from sale of businesses, net of cash sold			$ 2,700,000
Pre-tax gain (loss) on the sale			$ (4,200,000)
Revenues																		$ 8,300,000
Disposed of by Sale \| CVI Korea
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Proceeds from sale of businesses, net of cash sold		$ 3,800,000
Pre-tax gain (loss) on the sale		$ (16,000,000)
Income tax expense (benefit)																					$ (9,100,000)
Revenues																						$ 11,700,000
Disposed of by Sale \| Ismatec Product Line
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Proceeds from sale of businesses, net of cash sold						$ 27,700,000
Pre-tax gain (loss) on the sale						$ 18,100,000
Income tax expense (benefit)																							$ 4,800,000
Revenues																$ 5,300,000

Balance Sheet Components - Components (Details) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
RECEIVABLES
Customers	$ 297,796	$ 275,250
Other	4,134	5,641
Total	301,930	280,891
Less allowance for doubtful accounts	7,764	8,078
Total receivables — net	294,166	272,813
INVENTORIES
Raw materials and components parts	169,676	154,278
Work in process	33,668	34,832
Finished goods	56,380	63,749
Total	259,724	252,859
PROPERTY, PLANT AND EQUIPMENT
Land and improvements	32,984	33,883
Buildings and improvements	175,467	169,261
Machinery, equipment and other	356,728	328,779
Office and transportation equipment	96,541	98,355
Construction in progress	14,715	10,373
Total	676,435	640,651
Less accumulated depreciation and amortization	418,085	392,835
Total property, plant and equipment — net	258,350	247,816
ACCRUED EXPENSES
Payroll and related items	75,869	67,600
Management incentive compensation	24,320	16,339
Income taxes payable	28,033	8,808
Insurance	9,424	9,416
Warranty	6,281	5,628
Deferred revenue	11,031	12,607
Restructuring	4,180	3,893
Liability for uncertain tax positions	1,745	1,366
Accrued interest	1,759	1,663
Other	22,063	25,532
Total accrued expenses	184,705	152,852
OTHER NONCURRENT LIABILITIES
Pension and retiree medical obligations	99,646	93,604
Transition tax payable	27,877	0
Liability for uncertain tax positions	1,047	2,623
Deferred revenue	3,297	2,442
Other	23,818	22,561
Total other noncurrent liabilities	$ 155,685	$ 121,230

Balance Sheet Components - Valuation And Qualifying Accounts (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Movement in Valuation Allowances and Reserves [Roll Forward]
Beginning balance January 1	$ 8,078	$ 7,812	$ 6,961
Charged to costs and expenses, net of recoveries	720	1,425	1,556
Utilization	(1,418)	(1,585)	(1,009)
Currency translation and other	384	426	304
Ending balance December 31	$ 7,764	$ 8,078	$ 7,812

Goodwill and Intangible Assets - Additional Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization of intangible assets	$ 45,902	$ 49,038	$ 42,426
Expected amortization expense, 2018	38,400
Expected amortization expense, 2019	35,300
Expected amortization expense, 2020	34,500
Expected amortization expense, 2021	33,200
Expected amortization expense, 2022	$ 31,600

Goodwill and Intangible Assets - Schedule of Changes in Carrying Amount of Goodwill (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Goodwill and Intangible Assets Disclosure [Line Items]
Goodwill			$ 1,597,160
Accumulated goodwill impairment losses			(200,631)
Goodwill
Beginning Balance	$ 1,632,592	$ 1,396,529
Foreign currency translation	53,179	(37,482)
Acquisitions	23,929	290,393
Disposition of businesses	(3,121)	(15,772)
Acquisition adjustments	(2,421)	(1,076)
Ending Balance	1,704,158	1,632,592
Fluid & Metering Technologies
Goodwill and Intangible Assets Disclosure [Line Items]
Goodwill			605,491
Accumulated goodwill impairment losses			(20,721)
Goodwill
Beginning Balance	573,437	584,770
Foreign currency translation	15,748	(5,951)
Acquisitions	0	0
Disposition of businesses	(3,121)	(3,759)
Acquisition adjustments	0	(1,623)
Ending Balance	586,064	573,437
Health & Science Technologies
Goodwill and Intangible Assets Disclosure [Line Items]
Goodwill			740,425
Accumulated goodwill impairment losses			(149,820)
Goodwill
Beginning Balance	699,299	590,605
Foreign currency translation	19,225	(23,559)
Acquisitions	23,929	143,719
Disposition of businesses	0	(12,013)
Acquisition adjustments	(2,421)	547
Ending Balance	740,032	699,299
Fire & Safety/Diversified Products
Goodwill and Intangible Assets Disclosure [Line Items]
Goodwill			251,244
Accumulated goodwill impairment losses			$ (30,090)
Goodwill
Beginning Balance	359,856	221,154
Foreign currency translation	18,206	(7,972)
Acquisitions	0	146,674
Disposition of businesses	0	0
Acquisition adjustments	0	0
Ending Balance	$ 378,062	$ 359,856

Goodwill and Intangible Assets - Schedule of Gross Carrying Value and Accumulated Amortization for Each Major Class of Intangible Asset (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Goodwill And Intangible Assets [Line Items]
Amortized intangible assets - Gross Carrying Amount	$ 536,160	$ 605,645
Intangible assets - Gross Carrying Amount	627,060	696,545
Amortized intangible assets - Accumulated Amortization	(212,314)	(261,041)
Amortized intangible assets - Net	323,846	344,604
Intangible assets - Net	414,746	435,504
Banjo Trade Name
Goodwill And Intangible Assets [Line Items]
Indefinite lived intangible assets - Gross Carrying Amount	62,100	62,100
Indefinite lived intangible assets - Net	62,100	62,100
Akron Brass trade name
Goodwill And Intangible Assets [Line Items]
Indefinite lived intangible assets - Gross Carrying Amount	28,800	28,800
Indefinite lived intangible assets - Net	28,800	28,800
Patents
Goodwill And Intangible Assets [Line Items]
Amortized intangible assets - Gross Carrying Amount	9,633	9,856
Amortized intangible assets - Accumulated Amortization	(7,143)	(6,635)
Amortized intangible assets - Net	$ 2,490	3,221
Amortized intangible assets - Weighted Average Life	11 years
Trade Names
Goodwill And Intangible Assets [Line Items]
Amortized intangible assets - Gross Carrying Amount	$ 117,206	113,428
Amortized intangible assets - Accumulated Amortization	(50,604)	(42,653)
Amortized intangible assets - Net	$ 66,602	70,775
Amortized intangible assets - Weighted Average Life	16 years
Customer Relationships
Goodwill And Intangible Assets [Line Items]
Amortized intangible assets - Gross Carrying Amount	$ 317,316	369,087
Amortized intangible assets - Accumulated Amortization	(124,566)	(161,065)
Amortized intangible assets - Net	$ 192,750	208,022
Amortized intangible assets - Weighted Average Life	13 years
Unpatented technology and other
Goodwill And Intangible Assets [Line Items]
Amortized intangible assets - Gross Carrying Amount	$ 91,166	106,747
Amortized intangible assets - Accumulated Amortization	(29,428)	(44,516)
Amortized intangible assets - Net	$ 61,738	62,231
Amortized intangible assets - Weighted Average Life	13 years
Other Amortizable Intangible Assets
Goodwill And Intangible Assets [Line Items]
Amortized intangible assets - Gross Carrying Amount	$ 839	6,527
Amortized intangible assets - Accumulated Amortization	(573)	(6,172)
Amortized intangible assets - Net	$ 266	$ 355
Amortized intangible assets - Weighted Average Life	10 years

Borrowings - Additional Information (Details)			1 Months Ended	12 Months Ended
Borrowings - Additional Information (Details)	Jun. 23, 2015 USD ($)	Dec. 06, 2010 USD ($)	Dec. 31, 2011 USD ($)	Dec. 31, 2017 USD ($)	Dec. 31, 2016 USD ($)	Jun. 13, 2016 USD ($)	Dec. 09, 2011 USD ($)
Line of Credit Facility [Line Items]
Credit facility, term	5 years
Revolving facility expiration date				Jun. 23, 2020
Current borrowings under revolving facility				$ 10,740,000	$ 169,579,000
Minimum
Line of Credit Facility [Line Items]
Required percent for prepayment amount of aggregate principal amount						5.00%
Line of Credit
Line of Credit Facility [Line Items]
Current borrowing capacity	$ 700,000,000
Aggregate lending commitments	$ 350,000,000
Revolving facility, extension term	1 year
3.2% Senior Notes, due June 2023
Line of Credit Facility [Line Items]
Stated interest rate				3.20%
3.37% Senior Notes, due June 2025
Line of Credit Facility [Line Items]
Stated interest rate				3.37%
Revolving Credit Facility
Line of Credit Facility [Line Items]
Stated interest rate				1.10%
Applicable margin over LIBOR				1.10%
Basis spread on variable rate				0.20%
Outstanding letters of credit				$ 7,200,000
Revolving Facility, amount available to borrow				$ 682,100,000
Revolving Credit Facility \| Minimum
Line of Credit Facility [Line Items]
Applicable margin over LIBOR				0.005%
Interest coverage ratio				3.0
Revolving Credit Facility \| Maximum
Line of Credit Facility [Line Items]
Applicable margin over LIBOR				1.50%
Leverage ratio				3.50
4.2% Senior Notes, due December 2021
Line of Credit Facility [Line Items]
Stated interest rate				4.20%			4.20%
Principal amount of private placement			$ 350,000,000
Debt instrument maturity period			Dec. 15, 2021	Dec. 31, 2021	Dec. 31, 2021
Net proceeds from debt offering							$ 346,200,000
Debt offering initial discount							$ 900,000
Debt offering underwriting commission			$ 2,300,000
Estimated offering expenses			600,000
Contingent percentage of principal amount plus accrued and unpaid interest					101.00%
Outstanding repayment of indebtedness			$ 306,000,000
4.5% Senior Notes, due December 2020
Line of Credit Facility [Line Items]
Debt instrument face amount		$ 300,000,000.0
Stated interest rate		4.50%		4.50%
Debt instrument maturity period		Dec. 15, 2020		Dec. 31, 2020	Dec. 31, 2020
Net proceeds from debt offering		$ 295,700,000
Debt offering initial discount		1,600,000
Debt offering underwriting commission		1,900,000
Estimated offering expenses		$ 800,000
Contingent percentage of principal amount plus accrued and unpaid interest		101.00%
Outstanding repayment of indebtedness		$ 250,000,000
Senior Notes \| Maximum
Line of Credit Facility [Line Items]
Limitation of outstanding principal of higher preference debt as percent of consolidated assets						15.00%
Senior Notes \| 3.2% Senior Notes, due June 2023
Line of Credit Facility [Line Items]
Debt instrument face amount						$ 100,000,000
Stated interest rate						3.20%
Senior Notes \| 3.37% Senior Notes, due June 2025
Line of Credit Facility [Line Items]
Debt instrument face amount						$ 100,000,000
Stated interest rate						3.37%
Letters Of Credit \| Line of Credit
Line of Credit Facility [Line Items]
Current borrowing capacity	$ 75,000,000
Swing line Loans \| Line of Credit
Line of Credit Facility [Line Items]
Current borrowing capacity	$ 50,000,000

Borrowings - Schedule of Borrowings (Details) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Debt Instrument [Line Items]
Revolving Facility	$ 10,740	$ 169,579
Total borrowings	862,186	1,020,873
Less current portion	258	1,046
Less deferred debt issuance costs	2,204	4,399
Less unaccreted debt discount	936	1,193
Long-term borrowings	858,788	1,014,235
Senior Notes \| 4.5% Senior Notes, due December 2020
Debt Instrument [Line Items]
Total borrowings	300,000	300,000
Senior Notes \| 4.2% Senior Notes, due December 2021
Debt Instrument [Line Items]
Total borrowings	350,000	350,000
Senior Notes \| 3.2% Senior Notes, due June 2023
Debt Instrument [Line Items]
Total borrowings	100,000	100,000
Senior Notes \| 3.37% Senior Notes, due June 2025
Debt Instrument [Line Items]
Total borrowings	100,000	100,000
Other Borrowings
Debt Instrument [Line Items]
Other borrowings	$ 1,446	$ 1,294

Borrowings - Schedule of Borrowings (Schedule of Debt, Narrative) (Details)		1 Months Ended	12 Months Ended
	Dec. 06, 2010	Dec. 31, 2011	Dec. 31, 2017	Dec. 31, 2016	Dec. 09, 2011
4.2% Senior Notes, due December 2021
Debt Instrument [Line Items]
Stated interest rate			4.20%		4.20%
Senior Notes, maturity date		Dec. 15, 2021	Dec. 31, 2021	Dec. 31, 2021
4.5% Senior Notes, due December 2020
Debt Instrument [Line Items]
Stated interest rate	4.50%		4.50%
Senior Notes, maturity date	Dec. 15, 2020		Dec. 31, 2020	Dec. 31, 2020

Borrowings - Schedule of Maturities of Borrowings (Details) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Debt Disclosure [Abstract]
2018	$ 1,436
2019	10
2020	310,740
2021	350,000
2022	0
Thereafter	200,000
Total borrowings	$ 862,186	$ 1,020,873

Derivative Instruments - Narrative (Details) $ in Thousands			1 Months Ended		12 Months Ended
Derivative Instruments - Narrative (Details) $ in Thousands	Jan. 05, 2018 USD ($)	Oct. 03, 2011 USD ($)	Dec. 31, 2011 USD ($)	Dec. 31, 2010 USD ($)	Dec. 31, 2017 USD ($)	Dec. 31, 2016 USD ($)	Dec. 31, 2015 USD ($)	Dec. 31, 2017 EUR (€)	Dec. 09, 2011	Sep. 29, 2011 USD ($)	Jul. 12, 2011 USD ($)	Dec. 06, 2010	Apr. 15, 2010 USD ($)
Derivative [Line Items]
Notional amount										$ 350,000
Amortization of interest expense					$ 1,320	$ 1,295	$ 1,612
Additional interest rate contract settlement			$ 4,000
Expense reclassified into interest expense for interest rate contracts					6,700	$ 6,900	$ 7,000
Amount to be recognized from hedged transactions within 12 months, approximate					6,500
Other (Income) Expense Net
Derivative [Line Items]
Foreign currency transaction loss					20,200
Four Point Five Percentage Senior Notes [Member]
Derivative [Line Items]
Interest rate on senior notes								4.50%				4.50%
4.2% Senior Notes, due December 2021
Derivative [Line Items]
Interest rate on senior notes								4.20%	4.20%
Interest Rate Exchange Agreement Expiring 2010
Derivative [Line Items]
Notional amount													$ 300,000
Interest rate contract settlement amount				$ 31,000
Amortization of interest expense				$ 31,000
Term of amortized interest expense, years			10 years	10 years
Interest rate								5.80%
Interest Rate Exchange Agreement Expiring 2011
Derivative [Line Items]
Notional amount											$ 350,000
Interest rate contract settlement amount		$ 34,700
Interest Rate Exchange Agreements Expiring 2011 And 2012
Derivative [Line Items]
Amortization of interest expense			$ 37,900
Interest rate								5.30%
Settlement amount interest rate contract			38,700
Interest rate settlement recognized as other expense			$ 800
Foreign currency exchange contracts
Derivative [Line Items]
Notional amount \| €								€ 180,000,000
Cash received from settlement of contracts					13,700
Foreign currency exchange contracts \| Subsequent Event
Derivative [Line Items]
Cash received from settlement of contracts	$ 6,600
Foreign currency exchange contracts \| Other (Income) Expense Net
Derivative [Line Items]
Gain on derivatives					$ 19,800

Fair Value Measurements - Additional Information (Details) - USD ($) $ in Millions	Dec. 31, 2017	Dec. 09, 2011	Dec. 06, 2010
Estimate of Fair Value Measurement
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Carrying value of our revolving facility and senior debt	$ 886.3
Reported Value Measurement
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Carrying value of our revolving facility and senior debt	$ 861.0
3.2% Senior Notes, due June 2023
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Stated interest rate	3.20%
3.37% Senior Notes, due June 2025
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Stated interest rate	3.37%
4.5% Senior Notes, due December 2020
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Stated interest rate	4.50%		4.50%
4.2% Senior Notes, due December 2021
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Stated interest rate	4.20%	4.20%

Fair Value Measurements - Schedule of Company Financial Assets and Liabilities at Fair Value on Recurring Basis (Details) - Recurring Basis - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available for sale securities	$ 6,742	$ 5,369
Foreign currency exchange contracts	5,779
Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available for sale securities	6,742	5,369
Foreign currency exchange contracts	0
Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available for sale securities	0	0
Foreign currency exchange contracts	5,779
Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available for sale securities	0	$ 0
Foreign currency exchange contracts	$ 0

Commitments and Contingencies - Future Minimum Lease Payments For Operating And Capital Leases (Details) $ in Thousands	Dec. 31, 2017 USD ($)
Operating
2018	$ 15,992
2019	12,064
2020	9,465
2021	6,904
2022	4,999
2023 and thereafter	15,435
Future minimum lease payments for operating lease total	64,859
Capital
2018	258
2019	10
2020	0
2021	0
2022	0
2023 and thereafter	0
Future minimum lease payments for capital lease total	$ 268

Commitments and Contingencies - Roll Forward Of The Warranty Reserve (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Movement in Standard and Extended Product Warranty, Increase (Decrease) [Roll Forward]
Beginning balance January 1	$ 5,628	$ 7,936	$ 7,196
Provision for warranties	2,895	1,828	4,788
Claim settlements	(2,317)	(3,539)	(3,864)
Other adjustments, including acquisitions, divestitures and currency translation	75	(597)	(184)
Ending balance December 31	$ 6,281	$ 5,628	$ 7,936

Common and Preferred Stock (Details) - USD ($) $ / shares in Units, $ in Thousands		12 Months Ended
	Dec. 01, 2015	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Equity [Abstract]
Increase in share repurchase authorized amount	$ 300,000
Purchase of common stock (in shares)		266,000	738,593	2,811,002
Purchase and accruals of common stock		$ 29,100	$ 55,000
Purchase of common stock		29,074	$ 57,272	$ 210,822
Remaining authorized repurchase amount		$ 551,000
Common stock, shares authorized (in shares)		150,000,000	150,000,000
Common stock, par value (in dollars per share)		$ 0.01	$ 0.01
Preferred stock, shares authorized (in shares)		5,000,000	5,000,000
Preferred stock, par value (in dollars per share)		$ 0.01	$ 0.01
Preferred stock, shares issued (in shares)		0	0

Income Taxes - Additional Information (Details) - USD ($)	3 Months Ended	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Income Tax Disclosure [Line Items]
Tax Cuts and Jobs Act of 2017, income tax benefit	$ 100,000
Tax Cuts and Jobs Act of 2017, change in tax rate, income tax benefit	40,600,000
Tax Cuts and Jobs Act of 2017, one time transition tax for accumulated foreign earnings, income tax expense	30,300,000
Tax Cuts and Jobs Act of 2017,accumulated foreign earnings	779,000,000	$ 779,000,000
Tax Cuts and Jobs Act of 2017, tax planning strategies, income tax expense	10,200,000
Permanently reinvested earnings of non-U.S. subsidiaries	350,000,000	350,000,000	$ 670,000,000
Unrecognized deferred income tax liabilities on currently permanently reinvested earnings	$ 8,200,000	8,200,000
Foreign earnings repatriated		3,300,000	28,800,000	$ 14,300,000
Incremental income tax expense (benefit)		(6,400,000)	2,700,000	300,000
Tax Cuts and Jobs Act of 2017, provisional increase, deferred tax liability		9,200,000
Tax Cuts and Jobs Act of 2017, adjustment, deferred income tax expense		9,200,000
Tax Cuts and Jobs Act of 2017, permanent reinvestment, deferred tax liability		$ 8,200,000
Tax Cuts and Jobs Act of 2017, global intangible low taxed income, benchmark, percent	10.00%	10.00%
Tax Cuts and Jobs Act of 2017, provisional increase, income tax expense		$ 1,000,000
Accrued interest related to uncertain tax positions	$ 100,000	100,000	100,000	200,000
Accrued penalties related to uncertain tax positions	0	0	100,000	300,000
Unrecognized tax benefits that would affect our effective tax rate	900,000	900,000	1,800,000	$ 3,000,000
Loss carry forwards for U.S. federal	2,400,000	2,400,000	3,500,000
Loss carry forwards for non-U.S.	24,500,000	24,500,000	25,600,000
Operating loss and credit carry forwards	6,700,000	6,700,000	33,100,000
Operating loss carryforwards, valuation allowance	100,000	100,000	1,300,000
Capital loss carryforwards	12,853,000	12,853,000	18,668,000
Federal
Income Tax Disclosure [Line Items]
Capital loss carryforwards	46,000,000	46,000,000	70,100,000
Capital loss carryforwards, valuation allowance	9,700,000	9,700,000	18,700,000
State and Local
Income Tax Disclosure [Line Items]
Capital loss carryforwards	62,700,000	62,700,000	70,100,000
Capital loss carryforwards, valuation allowance	800,000	800,000	700,000
Foreign
Income Tax Disclosure [Line Items]
Capital loss carryforwards	14,200,000	14,200,000	700,000
Minimum
Income Tax Disclosure [Line Items]
Unrecognized tax benefits possible change	0	0
Maximum
Income Tax Disclosure [Line Items]
Unrecognized tax benefits possible change	1,700,000	1,700,000
Other current assets
Income Tax Disclosure [Line Items]
Prepaid taxes	40,900,000	$ 40,900,000	$ 42,200,000
Accrued liabilities
Income Tax Disclosure [Line Items]
Tax Cuts and Jobs Act of 2017, one time transition tax for accumulated foreign earnings, income tax expense	2,400,000
Other noncurrent liabilities
Income Tax Disclosure [Line Items]
Tax Cuts and Jobs Act of 2017, one time transition tax for accumulated foreign earnings, income tax expense	$ 27,900,000

Income Taxes - Schedule Of Income Before Income Tax (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Income Tax Disclosure [Abstract]
U.S.	$ 302,515	$ 265,260	$ 285,399
Foreign	152,758	103,252	106,946
Income before income taxes	$ 455,273	$ 368,512	$ 392,345

Income Taxes - Provision Benefit for Income Taxes (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Current
U.S.	$ 91,641	$ 67,668	$ 73,059
State and local	9,342	4,503	6,188
Foreign	50,775	42,540	30,630
Total current	151,758	114,711	109,877
Deferred
U.S.	(36,390)	(6,249)	7,125
State and local	3,305	(331)	(1,017)
Foreign	(657)	(10,728)	(6,447)
Total deferred	(33,742)	(17,308)	(339)
Total provision for income taxes	$ 118,016	$ 97,403	$ 109,538

Income Taxes - Deferred Tax Assets Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Income Tax Disclosure [Abstract]
Employee and retiree benefit plans	$ 31,804	$ 42,950
Capital loss carryforwards	12,853	18,668
Depreciation and amortization	(176,592)	(238,321)
Inventories	8,548	11,519
Allowances and accruals	4,572	9,338
Interest rate exchange agreement	5,007	10,442
Other	(8,019)	(90)
Total gross deferred tax (liabilities)	(121,827)	(145,494)
Capital loss valuation allowance	(12,853)	(18,668)
Total deferred tax (liabilities), net of valuation allowances	$ (134,680)	$ (164,162)

Income Taxes - Deferred Tax Assets and Liabilities Recognized in Company's Consolidated Balance Sheets (Details) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Income Tax Disclosure [Abstract]
Noncurrent deferred tax asset — Other noncurrent assets	$ 2,958	$ 2,265
Noncurrent deferred tax liabilities — Deferred income taxes	(137,638)	(166,427)
Total deferred tax (liabilities), net of valuation allowances	$ (134,680)	$ (164,162)

Income Taxes - Computed Amount and Differences in Provision for Income Taxes (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Income Tax Disclosure [Abstract]
Pretax income	$ 455,273	$ 368,512	$ 392,345
Computed amount at statutory rate of 35%	159,346	128,979	137,321
State and local income tax (net of federal tax benefit)	5,841	4,070	5,033
Taxes on non-U.S. earnings-net of foreign tax credits	(24,914)	(6,666)	(11,663)
Effect of flow-through entities	192	(8,735)	(8,358)
U.S. business tax credits	(1,928)	(1,665)	(1,273)
Domestic activities production deduction	(8,516)	(9,043)	(6,521)
Deferred tax effect of foreign tax rate change	0	0	(2,636)
Capital loss on divestitures	(2,275)	(23,444)	0
Share-based payments	(6,844)	(6,520)	0
Valuation allowance	(361)	17,973	0
Impact of Tax Act	(100)	0	0
Other	(2,425)	2,454	(2,365)
Total provision for income taxes	$ 118,016	$ 97,403	$ 109,538
Statutory tax rate	35.00%	35.00%	35.00%

Income Taxes - Reconciliation of Beginning and Ending Amount of Unrecognized Tax Benefits (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]
Beginning balance January 1	$ 3,775	$ 7,228	$ 3,619
Gross increase due to non-U.S. acquisitions	0	0	3,772
Gross increases for tax positions of prior years	537	201	1,256
Gross decreases for tax positions of prior years	(587)	(93)	0
Settlements	(604)	(2,014)	(667)
Lapse of statute of limitations	(399)	(1,547)	(752)
Ending balance December 31	$ 2,722	$ 3,775	$ 7,228

Business Segments and Geographic Information - Schedule of Information on Company's Business Segments (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Segment Reporting Information [Line Items]
Total net sales	$ 585,904	$ 574,490	$ 573,366	$ 553,552	$ 530,419	$ 530,356	$ 549,696	$ 502,572	$ 2,287,312	$ 2,113,043	$ 2,020,668
Total operating income	135,248	$ 126,504	$ 125,133	$ 115,671	85,521	$ 109,708	$ 113,823	$ 103,345	502,556	412,397	436,990
Interest expense									44,889	45,616	41,636
Other (income) expense - net									2,394	(1,731)	3,009
Income before income taxes									455,273	368,512	392,345
Total assets	3,399,628				3,154,944				3,399,628	3,154,944	2,805,443
Total depreciation and amortization									84,216	86,892	78,120
Total capital expenditures									43,858	38,242	43,776
Gain (loss) on sale of business									9,273	(22,298)	18,070
Intersegment Eliminations
Segment Reporting Information [Line Items]
Total net sales									(1,309)	(876)	(3,035)
Corporate Office
Segment Reporting Information [Line Items]
Total operating income									(65,069)	(82,399)	(45,139)
Total assets	230,160				117,503				230,160	117,503	123,008
Total depreciation and amortization									801	1,180	1,580
Total capital expenditures									2,937	243	2,022
Fluid & Metering Technologies
Segment Reporting Information [Line Items]
Total net sales									880,957	849,101	860,792
Total operating income									241,030	217,500	206,419
Total assets	1,101,580				1,065,670				1,101,580	1,065,670	1,125,266
Total depreciation and amortization									23,587	28,458	27,662
Total capital expenditures									18,218	16,389	22,846
Fluid & Metering Technologies \| External Customers
Segment Reporting Information [Line Items]
Total net sales									880,648	848,708	859,945
Fluid & Metering Technologies \| Intersegment Eliminations
Segment Reporting Information [Line Items]
Total net sales									309	393	847
Health & Science Technologies
Segment Reporting Information [Line Items]
Total net sales									820,131	744,809	738,996
Total operating income									179,567	153,691	158,364
Total assets	1,323,373				1,266,036				1,323,373	1,266,036	1,108,302
Total depreciation and amortization									45,287	45,298	42,827
Total capital expenditures									16,340	15,665	13,104
Health & Science Technologies \| External Customers
Segment Reporting Information [Line Items]
Total net sales									819,719	744,380	737,011
Health & Science Technologies \| Intersegment Eliminations
Segment Reporting Information [Line Items]
Total net sales									412	429	1,985
Fire & Safety/Diversified Products
Segment Reporting Information [Line Items]
Total net sales									587,533	520,009	423,915
Total operating income									147,028	123,605	117,346
Total assets	$ 744,515				$ 705,735				744,515	705,735	448,867
Total depreciation and amortization									14,541	11,956	6,051
Total capital expenditures									6,363	5,945	5,804
Fire & Safety/Diversified Products \| External Customers
Segment Reporting Information [Line Items]
Total net sales									586,945	519,955	423,712
Fire & Safety/Diversified Products \| Intersegment Eliminations
Segment Reporting Information [Line Items]
Total net sales									$ 588	$ 54	$ 203

Business Segments and Geographic Information - Schedule of Sales from External Customers and Long Lived Assets (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Revenues from External Customers and Long-Lived Assets [Line Items]
Total net sales	$ 585,904	$ 574,490	$ 573,366	$ 553,552	$ 530,419	$ 530,356	$ 549,696	$ 502,572	$ 2,287,312	$ 2,113,043	$ 2,020,668
Total long-lived assets — net	258,350				247,816				258,350	247,816	240,945
U.S. Plans
Revenues from External Customers and Long-Lived Assets [Line Items]
Total net sales									1,158,889	1,067,333	1,015,277
Total long-lived assets — net	145,808				152,504				145,808	152,504	144,508
North America, Excluding U.S.
Revenues from External Customers and Long-Lived Assets [Line Items]
Total net sales									93,419	84,836	85,852
Total long-lived assets — net	3,627				1,533				3,627	1,533	643
Europe
Revenues from External Customers and Long-Lived Assets [Line Items]
Total net sales									567,282	517,179	490,435
Total long-lived assets — net	85,932				71,681				85,932	71,681	69,082
Asia
Revenues from External Customers and Long-Lived Assets [Line Items]
Total net sales									366,577	340,624	325,507
Total long-lived assets — net	22,613				21,793				22,613	21,793	26,498
Other Countries
Revenues from External Customers and Long-Lived Assets [Line Items]
Total net sales									101,145	103,071	103,597
Total long-lived assets — net	$ 370				$ 305				$ 370	$ 305	$ 214

Restructuring - Additional Information (Details) $ in Thousands	3 Months Ended			12 Months Ended
	Dec. 31, 2017 USD ($)	Mar. 31, 2017 USD ($)	Dec. 31, 2016 USD ($)	Dec. 31, 2017 USD ($) employee	Dec. 31, 2016 USD ($) employee	Dec. 31, 2015 USD ($) employee
Restructuring Cost and Reserve [Line Items]
Pre-tax restructuring expenses related to restructuring initiative				$ 8,455	$ 3,674	$ 11,239
Restructuring liabilities	$ 4,180		$ 3,893	4,180	3,893	6,636
2017 Initiative
Restructuring Cost and Reserve [Line Items]
Pre-tax restructuring expenses related to restructuring initiative	$ 3,658			$ 3,658
Number of employees \| employee				92
2016 Initiative
Restructuring Cost and Reserve [Line Items]
Pre-tax restructuring expenses related to restructuring initiative		$ 4,800	$ 3,700	$ 4,797	$ 3,674
Number of employees \| employee					226
2015 Initiative
Restructuring Cost and Reserve [Line Items]
Pre-tax restructuring expenses related to restructuring initiative						$ 11,239
Number of employees \| employee						208

Restructuring - Schedule of Pre-Tax Restructuring Expenses by Segment (Details) - USD ($) $ in Thousands	3 Months Ended			12 Months Ended
	Dec. 31, 2017	Mar. 31, 2017	Dec. 31, 2016	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Restructuring Cost and Reserve [Line Items]
Total				$ 8,455	$ 3,674	$ 11,239
2017 Initiative
Restructuring Cost and Reserve [Line Items]
Severance Costs				3,067
Exit Costs				591
Total	$ 3,658			3,658
2017 Initiative \| Fluid & Metering Technologies
Restructuring Cost and Reserve [Line Items]
Severance Costs				1,375
Exit Costs				433
Total				1,808
2017 Initiative \| Health & Science Technologies
Restructuring Cost and Reserve [Line Items]
Severance Costs				1,510
Exit Costs				158
Total				1,668
2017 Initiative \| Fire & Safety/Diversified Products
Restructuring Cost and Reserve [Line Items]
Severance Costs				182
Exit Costs				0
Total				182
2017 Initiative \| Corporate Office/Other
Restructuring Cost and Reserve [Line Items]
Severance Costs				0
Exit Costs				0
Total				0
2016 Initiative
Restructuring Cost and Reserve [Line Items]
Severance Costs				4,239
Exit Costs				558
Total		$ 4,800	$ 3,700	4,797	3,674
2016 Initiative \| Fluid & Metering Technologies
Restructuring Cost and Reserve [Line Items]
Severance Costs				1,566
Exit Costs				0
Total				1,566	932
2016 Initiative \| Health & Science Technologies
Restructuring Cost and Reserve [Line Items]
Severance Costs				2,470
Exit Costs				558
Total				3,028	1,117
2016 Initiative \| Fire & Safety/Diversified Products
Restructuring Cost and Reserve [Line Items]
Severance Costs				73
Exit Costs				0
Total				73	1,425
2016 Initiative \| Corporate Office/Other
Restructuring Cost and Reserve [Line Items]
Severance Costs				130
Exit Costs				0
Total				$ 130	$ 200
2015 Initiative
Restructuring Cost and Reserve [Line Items]
Total						11,239
2015 Initiative \| Fluid & Metering Technologies
Restructuring Cost and Reserve [Line Items]
Total						7,090
2015 Initiative \| Health & Science Technologies
Restructuring Cost and Reserve [Line Items]
Total						3,408
2015 Initiative \| Fire & Safety/Diversified Products
Restructuring Cost and Reserve [Line Items]
Total						576
2015 Initiative \| Corporate Office/Other
Restructuring Cost and Reserve [Line Items]
Total						$ 165

Restructuring - Schedule of Restructuring Accruals Expenses (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Restructuring Reserve [Roll Forward]
Beginning balance	$ 3,893	$ 6,636
Restructuring expenses	8,455	3,674	$ 11,239
Payments, utilization and other	(8,168)	(6,417)
Ending balance	$ 4,180	$ 3,893	$ 6,636

Share-Based Compensation - Additional Information (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2017 USD ($) share-based_compensation_plan shares	Dec. 31, 2016 USD ($) shares	Dec. 31, 2015 USD ($) shares	Dec. 31, 2018 shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of share-based compensation plans \| share-based_compensation_plan	2
Number of shares authorized (in shares) \| shares	15,600,000.0
Number of shares available for future issuance (in shares) \| shares	4,900,000
Proceeds from stock option exercises	$ 22,935	$ 30,240	$ 19,217
Forecast
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares issued (in shares) \| shares				143,897
Stock Option
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock option exercisable life	10 years
Total intrinsic value of options exercised	$ 26,100	26,500	16,900
Proceeds from stock option exercises	22,900	30,200	19,200
Tax benefit realized for the tax deductions from stock options exercised	9,500	9,600	$ 6,100
Total unrecognized compensation cost	$ 12,300
Weighted-average period of total unrecognized compensation cost, in years	1 year 4 months 24 days
Stock Option \| Non-Employee Directors Cliff
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	1 year
Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	3 years
Total unrecognized compensation cost	$ 4,900
Weighted-average period of total unrecognized compensation cost, in years	1 year
Unvested shares, granted (in shares) \| shares	59,315
Cash-settled Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	3 years
Share based compensation, accrued expenses	$ 4,500	3,000
Share based compensation, other noncurrent liabilities	$ 3,000	$ 2,400
Unvested shares, granted (in shares) \| shares	34,530
Performance Shares Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total unrecognized compensation cost	$ 6,600
Weighted-average period of total unrecognized compensation cost, in years	10 months 24 days
Award requisite service period	3 years
Unvested shares, granted (in shares) \| shares	65,530	100,000	100,000
Performance Shares Units \| Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Target award	0.00%
Performance Shares Units \| Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Target award	250.00%
Target payout	100.00%

Share-Based Compensation - Schedule of Weighted Average Option Fair Values and Assumptions (Details) - Stock Option - $ / shares	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average fair value of grants (in dollars per share)	$ 24.19	$ 18.56	$ 20.32
Dividend yield	1.45%	1.69%	1.45%
Volatility	29.41%	29.70%	29.90%
Risk-free interest rate, minimum	0.83%	0.53%	0.24%
Risk-free interest rate, maximum	3.04%	2.49%	2.82%
Expected life (in years)	5 years 9 months 29 days	5 years 10 months 28 days	5 years 11 months 5 days

Share-Based Compensation - Stock Options Activity (Details) - Stock Option - USD ($)	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Shares
Outstanding at January 1, 2017 (in shares)	1,987,946
Granted (in shares)	441,990
Exercised (in shares)	(448,189)
Forfeited (in shares)	(57,064)
Outstanding at December 31, 2017 (in shares)	1,924,683	1,987,946
Vested and expected to vest at December 31, 2017 (in shares)	1,823,279
Exercisable at December 31, 2017 (in shares)	898,003
Weighted Average Price
Outstanding at January 1, 2016 (in dollars per share)	$ 61.83
Granted (in dollars per share)	93.48
Exercised (in dollars per share)	51.17
Forfeited (in dollars per share)	79.14
Outstanding at December 31, 2017 (in dollars per share)	71.07	$ 61.83
Vested and expected to vest at December 31, 2017 (in dollars per share)	70.26
Exercisable at December 31, 2017 (in dollars per share)	$ 57.21
Weighted-Average Remaining Contractual Term
Weighted-Average Remaining Contractual Term	6 years 10 months 13 days	6 years 10 months 2 days
Vested and expected to vest at December 31, 2017	6 years 9 months 7 days
Exercisable at December 31, 2017	5 years 3 months 7 days
Aggregate Intrinsic Value
Outstanding at January 1, 2017	$ 56,144,876
Outstanding at December 31, 2017	117,209,218	$ 56,144,876
Vested and expected to vest at December 31, 2017	112,521,086
Exercisable at December 31, 2017	$ 67,130,223

Share-Based Compensation - Schedule of Compensation Cost for Stock Options (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total expense before income taxes	$ 24,405	$ 20,326	$ 20,048
Stock Option
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total expense before income taxes	7,775	6,988	7,031
Income tax benefit	(2,485)	(2,213)	(2,208)
Total expense after income taxes	5,290	4,775	4,823
Stock Option \| Cost of goods sold
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total expense before income taxes	428	427	543
Stock Option \| Selling, general and administrative expenses
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total expense before income taxes	$ 7,347	$ 6,561	$ 6,488

Share-Based Compensation - Restricted Stock Units Activity (Details) - Restricted Stock	12 Months Ended
	Dec. 31, 2017 $ / shares shares
Shares
Unvested at January 1, 2017 (in shares) \| shares	217,898
Granted (in shares) \| shares	59,315
Vested (in shares) \| shares	(82,420)
Forfeited (in shares) \| shares	(12,770)
Unvested at December 31, 2017 (in shares) \| shares	182,023
Weighted-Average Grant Date Fair Value
Unvested at January 1, 2017 (in dollars per share) \| $ / shares	$ 76.19
Granted (in dollars per share) \| $ / shares	93.75
Vested (in dollars per share) \| $ / shares	72.42
Forfeited (in dollars per share) \| $ / shares	79.80
Unvested at December 31, 2017 (in dollars per share) \| $ / shares	$ 83.37

Share-Based Compensation - Schedule of Compensation Cost for Restricted Stock Units (Details) - Restricted Stock - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total expense before income taxes	$ 5,107	$ 4,791	$ 5,554
Income tax benefit	(1,654)	(1,410)	(1,604)
Total expense after income taxes	3,453	3,381	3,950
Cost of goods sold
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total expense before income taxes	335	390	341
Selling, general and administrative expenses
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total expense before income taxes	$ 4,772	$ 4,401	$ 5,213

Share-Based Compensation Share-Based Compensation - Cash-settled Restricted Stock Activity (Details) - Cash-settled Restricted Stock	12 Months Ended
	Dec. 31, 2017 $ / shares shares
Shares
Unvested at January 1, 2017 (in shares) \| shares	103,790
Granted (in shares) \| shares	34,530
Vested (in shares) \| shares	(27,050)
Forfeited (in shares) \| shares	(16,540)
Unvested at December 31, 2017 (in shares) \| shares	94,730
Weighted-Average Grant Date Fair Value
Unvested at January 1, 2017 (in dollars per share) \| $ / shares	$ 90.06
Granted (in dollars per share) \| $ / shares	93.92
Vested (in dollars per share) \| $ / shares	92.44
Forfeited (in dollars per share) \| $ / shares	122.31
Unvested at December 31, 2017 (in dollars per share) \| $ / shares	$ 131.97

Share-Based Compensation - Schedule of Compensation Cost for Cash-settled Restricted Stock (Details) - Cash-settled Restricted Stock - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total expense before income taxes	$ 4,598	$ 2,988	$ 2,518
Income tax benefit	(808)	(419)	(355)
Total expense after income taxes	3,790	2,569	2,163
Cost of goods sold
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total expense before income taxes	1,357	764	753
Selling, general and administrative expenses
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total expense before income taxes	$ 3,241	$ 2,224	$ 1,765

Share-Based Compensation - Schedule of Weighted Average Performance Share Units Fair Values and Assumptions (Details) - Performance Shares Units - $ / shares	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average fair value of grants (in dollars per share)	$ 115.74	$ 111.42	$ 95.07
Dividend yield	0.00%	0.00%	0.00%
Volatility	17.36%	17.99%	19.14%
Risk-free interest rate	1.45%	0.89%	1.01%
Expected life (in years)	2 years 10 months 6 days	2 years 10 months 10 days	2 years 10 months 10 days

Share-Based Compensation - Performance Share Unit Activity (Details) - Performance Shares Units - $ / shares	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Shares
Unvested at January 1, 2017 (in shares)	137,055
Granted (in shares)	65,530	100,000	100,000
Vested (in shares)	(62,755)
Forfeited (in shares)	(2,960)
Unvested at December 31, 2017 (in shares)	136,870	137,055
Weighted-Average Grant Date Fair Value
Unvested at January 1, 2017 (in dollars per share)	$ 104.18
Granted (in dollars per share)	115.74
Vested (in dollars per share)	95.81
Forfeited (in dollars per share)	109.75
Unvested at December 31, 2017 (in dollars per share)	$ 113.81	$ 104.18

Share-Based Compensation - Schedule of Compensation Cost for Performance Share Units (Details) - Performance Shares Units - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total expense before income taxes	$ 6,925	$ 5,559	$ 4,946
Income tax benefit	(2,342)	(1,859)	(1,670)
Total expense after income taxes	4,583	3,700	3,276
Cost of goods sold
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total expense before income taxes	0	0	0
Selling, general and administrative expenses
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total expense before income taxes	$ 6,925	$ 5,559	$ 4,946

Other Comprehensive Income (Loss) - (Components of Other Comprehensive Income (Loss)) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Equity [Abstract]
Cumulative translation adjustment, Pre-tax	$ 110,421	$ (76,822)	$ (63,441)
Cumulative translation adjustment, Tax	0	0	0
Cumulative translation adjustment, Net of Tax	110,421	(76,822)	(63,441)
Reclassification of foreign currency translation to earnings upon sale of business, Pre-tax	2,749	14,257	(4,725)
Reclassification of foreign currency translation to earnings upon sale of business, Tax	0	0	0
Reclassification of foreign currency translation to earnings upon sale of business, Net of Tax	2,749	14,257	(4,725)
Tax effect of reversal of indefinite assertion on certain intercompany loans, Pre-tax	(3,932)	0
Tax effect of reversal of indefinite assertion on certain intercompany loans, Tax	0	0
Tax effect of reversal of indefinite assertion on certain intercompany loans, Net of Tax	(3,932)	0	0
Foreign currency translation adjustments, Pre-tax	109,238	(62,565)
Foreign currency translation adjustments, Tax	0	0
Foreign currency translation adjustments, net of tax	109,238	(62,565)
Pension and other postretirement adjustments
Net gain (loss) arising during the year, Pre-tax	(5,355)	(1,927)	8,318
Net gain (loss) arising during the year, Tax	828	789	(2,411)
Net gain (loss) arising during the year, Net of Tax	(4,527)	(1,138)	5,907
Amortization/recognition of settlement loss, Pre-tax	3,814	7,083	4,939
Amortization/recognition of settlement loss, Tax	(589)	(2,896)	(1,431)
Amortization/recognition of settlement loss, Net of Tax	3,225	4,187	3,508
Pension and other postretirement adjustments, Pre-tax	(1,541)	5,156	13,257
Pension and other postretirement adjustments, Tax	239	(2,107)	(3,842)
Pension and other postretirement adjustments, Net of Tax	(1,302)	3,049	9,415
Reclassification adjustments for derivatives, Pre-tax	6,655	6,851	7,030
Reclassification adjustments for derivatives, Tax	(2,445)	(2,490)	(2,499)
Reclassification adjustments for derivatives, Net of tax	4,210	4,361	4,531
Total other comprehensive income (loss), Pre-tax	114,352	(50,558)	(47,879)
Total other comprehensive income (loss), Tax	(2,206)	(4,597)	(6,341)
Other comprehensive income (loss)	$ 112,146	$ (55,155)	$ (54,220)

Other Comprehensive Income (Loss) - (Amounts Reclassified from Accumulated Other Comprehensive Income (Loss)) (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Loss (gain) on sale of businesses - net									$ (9,273)	$ 22,298	$ (18,070)
Other (income) expense - net									2,394	(1,731)	3,009
Interest expense									44,889	45,616	41,636
Total before tax									(455,273)	(368,512)	(392,345)
Provision for income taxes									118,016	97,403	109,538
Total net of tax	$ (93,746)	$ (83,768)	$ (83,844)	$ (75,899)	$ (57,347)	$ (69,873)	$ (75,759)	$ (68,130)	(337,257)	(271,109)	(282,807)
Reclassification out of Accumulated Other Comprehensive Income \| Foreign Currency Translation
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Loss (gain) on sale of businesses - net									2,749	14,257	(4,725)
Total before tax									2,749	14,257	(4,725)
Provision for income taxes									0	0	0
Total net of tax									2,749	14,257	(4,725)
Reclassification out of Accumulated Other Comprehensive Income \| Pension and Other Postretirement Plans
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Total before tax									3,814	7,083	4,939
Provision for income taxes									(589)	(2,896)	(1,431)
Total net of tax									3,225	4,187	3,508
Reclassification out of Accumulated Other Comprehensive Income \| Amortization of service cost
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Other (income) expense - net									3,580	3,529	4,939
Reclassification out of Accumulated Other Comprehensive Income \| Recognition of settlement loss
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Other (income) expense - net									234	3,554	0
Reclassification out of Accumulated Other Comprehensive Income \| Derivatives
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Interest expense									6,655	6,851	7,030
Total before tax									6,655	6,851	7,030
Provision for income taxes									(2,445)	(2,490)	(2,499)
Total net of tax									$ 4,210	$ 4,361	$ 4,531

Retirement Benefits - Additional Information (Details) $ in Thousands	3 Months Ended	12 Months Ended
	Dec. 31, 2016 USD ($)	Dec. 31, 2017 USD ($) employee	Dec. 31, 2016 USD ($)	Dec. 31, 2015 USD ($)
Defined Benefit Plan Disclosure [Line Items]
Percentage of excess gains and losses over benefit obligation or market value of assets amortized		10.00%
Costs of defined contribution plans		$ 10,200	$ 10,100	$ 10,300
Number of participants covering under multi employer pension plan \| employee		355
Costs of bargaining unit-sponsored multi-employer plans and defined contribution plans		$ 1,000	1,300	1,000
Weighted average annual rate of increase in the per capita cost of covered health care benefits assumed		6.21%
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		2038
Increase in service and interest cost components of the net periodic benefit cost, as 1% increase in health care cost trend rates		$ 200
Increase in accumulated postretirement benefit obligation, as 1% increase in health care cost trend rates		2,300
Decrease in service and interest cost components of the net periodic benefit cost, as 1% decrease in health care cost trend rates		100
Decrease in accumulated postretirement benefit obligation, as 1% decrease in health care cost trend rates		2,000
Future estimated benefit payments for year 2018		13,600
Future estimated benefit payments for year 2019		11,000
Future estimated benefit payments for year 2020		11,300
Future estimated benefit payments for year 2021		11,000
Future estimated benefit payments for year 2022		11,000
Future estimated benefit payments for years 2022 to 2026		54,700
Defined Contribution Plan
Defined Benefit Plan Disclosure [Line Items]
Defined contribution plan, expected contribution for next fiscal year		11,000
401k
Defined Benefit Plan Disclosure [Line Items]
Defined contribution plan, expected contribution for next fiscal year		$ 8,500
Equity Securities
Defined Benefit Plan Disclosure [Line Items]
Target allocation of fund assets in equities		44.00%
Equity Securities \| Minimum
Defined Benefit Plan Disclosure [Line Items]
Target allocation of fund assets in equities		40.00%
Equity Securities \| Maximum
Defined Benefit Plan Disclosure [Line Items]
Target allocation of fund assets in equities		60.00%
Fixed Income Securities
Defined Benefit Plan Disclosure [Line Items]
Target allocation of fund assets in equities		56.00%
Fixed Income Securities \| Minimum
Defined Benefit Plan Disclosure [Line Items]
Target allocation of fund assets in equities		40.00%
Fixed Income Securities \| Maximum
Defined Benefit Plan Disclosure [Line Items]
Target allocation of fund assets in equities		60.00%
Pension Benefit Plan
Defined Benefit Plan Disclosure [Line Items]
Accumulated benefit obligation for all defined benefit pension plans	$ 176,700	$ 182,700	176,700
Defined benefit plan, expected contribution for next fiscal year		5,500
Pension Benefit Plan \| U.S. Plans
Defined Benefit Plan Disclosure [Line Items]
Lump sum payment		0	11,126
Settlement loss recognized	$ 3,500	0	3,339	$ 0
Other Benefit Plans
Defined Benefit Plan Disclosure [Line Items]
Lump sum payment		0	$ 0
Defined benefit plan, expected contribution for next fiscal year		$ 100

Retirement Benefits - Reconciliation Of Changes In Benefit Obligations And Fair Value Of Plan Assets (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
CHANGE IN PLAN ASSETS
Fair value of plan assets at January 1	$ 106,274
Fair value of plan assets at December 31	112,505	$ 106,274
Other noncurrent liabilities	(99,646)	(93,604)
Pension Benefit Plan
CHANGE IN BENEFIT OBLIGATION
Other	0
Pension Benefit Plan \| U.S. Plans
CHANGE IN BENEFIT OBLIGATION
Obligation at January 1	90,256	98,476
Service cost	976	1,016	$ 1,279
Interest cost	2,677	3,043	3,770
Plan amendments	0	0
Benefits paid	(6,258)	(3,140)
Actuarial loss (gain)	3,684	1,987
Currency translation	0	0
Settlements	0	(11,126)
Acquisition/Divestiture	0	0
Other		0
Obligation at December 31	91,335	90,256	98,476
CHANGE IN PLAN ASSETS
Fair value of plan assets at January 1	73,688	77,575
Actual return on plan assets	5,046	6,740
Employer contributions	3,565	3,639
Benefits paid	(6,258)	(3,140)
Currency translation	0	0
Settlements	0	(11,126)
Acquisition/Divestiture	0	0
Other	0	0
Fair value of plan assets at December 31	76,041	73,688	77,575
Funded status at December 31	(15,294)	(16,568)
Current liabilities	(658)	(729)
Other noncurrent liabilities	(14,636)	(15,839)
Net liability at December 31	(15,294)	(16,568)
Pension Benefit Plan \| Non-U.S. Plans
CHANGE IN BENEFIT OBLIGATION
Obligation at January 1	87,764	58,063
Service cost	1,975	1,627	1,506
Interest cost	1,283	1,429	1,734
Plan amendments	0	0
Benefits paid	(1,942)	(2,023)
Actuarial loss (gain)	(15)	6,844
Currency translation	9,323	(6,988)
Settlements	(2,452)	(819)
Acquisition/Divestiture		29,491
Acquisition/Divestiture	(482)
Other	1,997	140
Obligation at December 31	97,451	87,764	58,063
CHANGE IN PLAN ASSETS
Fair value of plan assets at January 1	32,586	20,645
Actual return on plan assets	1,792	2,470
Employer contributions	2,702	1,974
Benefits paid	(1,942)	(2,023)
Currency translation	2,446	(4,108)
Settlements	(2,452)	(819)
Acquisition/Divestiture	0	14,307
Other	1,184	140
Fair value of plan assets at December 31	36,316	32,586	20,645
Funded status at December 31	(61,135)	(55,178)
Current liabilities	(1,159)	(1,005)
Other noncurrent liabilities	(59,976)	(54,173)
Net liability at December 31	(61,135)	(55,178)
Other Benefit Plans
CHANGE IN BENEFIT OBLIGATION
Obligation at January 1	24,636	20,400
Service cost	610	601	673
Interest cost	818	811	833
Plan amendments	0	0
Benefits paid	(738)	(718)
Actuarial loss (gain)	592	(1,990)
Currency translation	150	52
Settlements	0	0
Acquisition/Divestiture	0	5,480
Other	0	0
Obligation at December 31	26,068	24,636	20,400
CHANGE IN PLAN ASSETS
Fair value of plan assets at January 1	0	0
Actual return on plan assets	0	0
Employer contributions	738	718
Benefits paid	(738)	(718)
Currency translation	0	0
Settlements	0	0
Acquisition/Divestiture	0	0
Other	0	0
Fair value of plan assets at December 31	0	0	$ 0
Funded status at December 31	(26,068)	(24,636)
Current liabilities	(1,034)	(1,044)
Other noncurrent liabilities	(25,034)	(23,592)
Net liability at December 31	$ (26,068)	$ (24,636)

Retirement Benefits - Weighted Average Assumptions Used in the Measurement Of Benefit Obligation (Details) - Pension Benefit Plan	Dec. 31, 2017	Dec. 31, 2016
U.S. Plans
Schedule of Benefit Obligations Weighted Average Assumptions [Line Items]
Discount rate	3.46%	3.91%
Rate of compensation increase	4.00%	4.00%
Non-U.S. Plans
Schedule of Benefit Obligations Weighted Average Assumptions [Line Items]
Discount rate	1.82%	1.76%
Rate of compensation increase	2.37%	2.29%

Retirement Benefits - Pretax Amounts Recognized in Accumulated Other Comprehensive Income Loss (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Pension Benefit Plan \| U.S. Plans
Defined Benefit Plan Disclosure [Line Items]
Prior service cost (credit)	$ 86	$ 110
Net loss	27,789	27,860
Total	27,875	27,970
Net gain (loss) in current year	(2,471)
Amortization of prior service cost (credit)	24
Amortization of net loss (gain)	2,542
Exchange rate effect on amounts in OCI	0
Total	95
Pension Benefit Plan \| Non-U.S. Plans
Defined Benefit Plan Disclosure [Line Items]
Prior service cost (credit)	18	77
Net loss	17,986	17,643
Total	18,004	17,720
Net gain (loss) in current year	318
Amortization of prior service cost (credit)	3
Amortization of net loss (gain)	2,040
Exchange rate effect on amounts in OCI	(2,645)
Total	(284)
Other Benefit Plans
Defined Benefit Plan Disclosure [Line Items]
Prior service cost (credit)	(483)	(849)
Net loss	(2,866)	(3,852)
Total	(3,349)	$ (4,701)
Net gain (loss) in current year	(592)
Amortization of prior service cost (credit)	(366)
Amortization of net loss (gain)	(429)
Exchange rate effect on amounts in OCI	35
Total	$ (1,352)

Retirement Benefits - Amounts in Accumulated Other Comprehensive Income Loss Expected to be Recognized As Components of Net Periodic Benefit Cost During 2012 (Details) $ in Thousands	Dec. 31, 2017 USD ($)
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Prior service cost (credit)	$ (339)
Net loss	3,627
Total	3,288
Pension Benefit Plan \| U.S. Plans
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Prior service cost (credit)	24
Net loss	2,716
Total	2,740
Pension Benefit Plan \| Non-U.S. Plans
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Prior service cost (credit)	3
Net loss	1,282
Total	1,285
Other Benefit Plans
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Prior service cost (credit)	(366)
Net loss	(371)
Total	$ (737)

Retirement Benefits - Components of Net Periodic Benefit Cost for Defined Benefit Plans and Other Postretirement Plans (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Pension Benefit Plan \| U.S. Plans
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Service cost		$ 976	$ 1,016	$ 1,279
Interest cost		2,677	3,043	3,770
Expected return on plan assets		(3,832)	(4,777)	(4,910)
Settlement loss recognized	$ 3,500	0	3,339	0
Net amortization		2,566	3,226	3,422
Net periodic benefit cost		2,387	5,847	3,561
Pension Benefit Plan \| Non-U.S. Plans
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Service cost		1,975	1,627	1,506
Interest cost		1,283	1,429	1,734
Expected return on plan assets		(1,088)	(993)	(1,114)
Settlement loss recognized		234	215	0
Net amortization		1,809	1,008	1,931
Net periodic benefit cost		4,213	3,286	4,057
Other Benefit Plans
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Service cost		610	601	673
Interest cost		818	811	833
Net amortization		(795)	(705)	(414)
Net periodic benefit cost		$ 633	$ 707	$ 1,092

Retirement Benefits - Weighted Average Assumptions Used to Determine Net Periodic Benefit Cost of Plans (Details) - Pension Benefit Plan	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
U.S. Plans
Defined Benefit Plan Disclosure [Line Items]
Discount rate	3.91%	4.12%	3.78%
Expected return on plan assets	5.50%	6.50%	6.50%
Rate of compensation increase	4.00%	4.00%	4.00%
Non-U.S. Plans
Defined Benefit Plan Disclosure [Line Items]
Discount rate	1.76%	2.99%	2.66%
Expected return on plan assets	3.20%	4.58%	5.19%
Rate of compensation increase	2.29%	2.98%	3.00%

Retirement Benefits - Pension Plan Weighted Average Asset Allocations (Details) - Pension Benefit Plan	Dec. 31, 2017	Dec. 31, 2016
U.S. Plans
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Defined benefit plan securities	100.00%	100.00%
U.S. Plans \| Equity Securities
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Defined benefit plan securities	47.00%	44.00%
U.S. Plans \| Fixed Income Securities
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Defined benefit plan securities	51.00%	43.00%
U.S. Plans \| Cash/Commingled Funds/Other
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Defined benefit plan securities	2.00%	13.00%
Non-U.S. Plans
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Defined benefit plan securities	100.00%	100.00%
Non-U.S. Plans \| Equity Securities
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Defined benefit plan securities	14.00%	24.00%
Non-U.S. Plans \| Fixed Income Securities
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Defined benefit plan securities	30.00%	26.00%
Non-U.S. Plans \| Cash/Commingled Funds/Other
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Defined benefit plan securities	56.00%	50.00%

Quarterly Results of Operations (Unaudited) (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Quarterly Financial Information Disclosure [Abstract]
Net sales	$ 585,904	$ 574,490	$ 573,366	$ 553,552	$ 530,419	$ 530,356	$ 549,696	$ 502,572	$ 2,287,312	$ 2,113,043	$ 2,020,668
Gross profit	260,882	257,930	256,925	250,941	232,485	230,889	244,058	223,335	1,026,678	930,767	904,315
Operating income	135,248	126,504	125,133	115,671	85,521	109,708	113,823	103,345	502,556	412,397	436,990
Net income	$ 93,746	$ 83,768	$ 83,844	$ 75,899	$ 57,347	$ 69,873	$ 75,759	$ 68,130	$ 337,257	$ 271,109	$ 282,807
Basic EPS (in dollar per share)	$ 1.23	$ 1.09	$ 1.10	$ 0.99	$ 0.75	$ 0.92	$ 1.00	$ 0.90	$ 4.41	$ 3.57	$ 3.65
Diluted EPS (in dollar per share)	$ 1.21	$ 1.08	$ 1.08	$ 0.99	$ 0.75	$ 0.91	$ 0.99	$ 0.89	$ 4.36	$ 3.53	$ 3.62
Basic weighted average shares outstanding (in shares)	76,283	76,309	76,220	76,115	75,955	75,819	75,690	75,749	76,232	75,803	77,126
Diluted weighted average shares outstanding (in shares)	77,597	77,523	77,320	76,894	76,806	76,880	76,674	76,699	77,333	76,758	77,972

Business Segments and Geographic Information - Additional Information (Details)	12 Months Ended
	Dec. 31, 2017 segment
Segment Reporting [Abstract]
Number of reportable business segments	3

Common and Preferred Stock	12 Months Ended
Common and Preferred Stock	Dec. 31, 2017
Equity [Abstract]
Common and Preferred Stock	Common and Preferred Stock On December 1, 2015 the Company’s Board of Directors approved a $300.0 million increase in the authorized level for repurchases of common stock. Repurchases under the program will be funded with future cash flow generation or borrowings available under the Revolving Facility. During 2017, the Company purchased a total of 0.3 million shares at a cost of $29.1 million, compared to 0.7 million shares purchased at a cost of $55.0 million in 2016. As of December 31, 2017, there was $551 million of repurchase authorization remaining. At December 31, 2017 and 2016, 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, 2017 and 2016.

Derivative Instruments - Fair Value Amounts (Details) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Other current assets \| Foreign currency exchange contracts
Derivative [Line Items]
Fair Value Assets (Liabilities)	$ 5,779	$ 0

Retirement Benefits - Summary of Basis Used to Measure Defined Benefit Plans Assets at Fair Value (Details) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, fair value of plan assets	$ 112,505	$ 106,274
U.S. Large Cap
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, fair value of plan assets	16,402	15,345
U.S. Small / Mid Cap
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, fair value of plan assets	7,966	8,920
International, Equity
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, fair value of plan assets	16,844	16,282
U.S. Intermediate
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, fair value of plan assets	13,568	10,014
U.S. Short Duration
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, fair value of plan assets	13,362	10,160
U.S. High Yield
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, fair value of plan assets	9,529	9,343
International, Fixed Income
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, fair value of plan assets	13,311	10,310
Other Commingled Funds
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, fair value of plan assets	16,059	14,180
Cash and Cash Equivalents
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, fair value of plan assets	2,613	10,382
Other
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, fair value of plan assets	2,851	1,338
Level 1
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, fair value of plan assets	77,078	74,417
Level 1 \| U.S. Large Cap
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, fair value of plan assets	16,402	15,345
Level 1 \| U.S. Small / Mid Cap
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, fair value of plan assets	7,051	7,111
Level 1 \| International, Equity
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, fair value of plan assets	13,205	10,647
Level 1 \| U.S. Intermediate
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, fair value of plan assets	13,483	9,943
Level 1 \| U.S. Short Duration
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, fair value of plan assets	13,362	10,160
Level 1 \| U.S. High Yield
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, fair value of plan assets	8,462	7,924
Level 1 \| International, Fixed Income
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, fair value of plan assets	3,767	3,627
Level 1 \| Other Commingled Funds
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	1,346	9,660
Level 1 \| Other
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, fair value of plan assets	0	0
Level 2
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, fair value of plan assets	19,368	17,677
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	915	1,809
Level 2 \| International, Equity
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, fair value of plan assets	3,639	5,635
Level 2 \| U.S. Intermediate
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, fair value of plan assets	85	71
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	1,067	1,419
Level 2 \| International, Fixed Income
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, fair value of plan assets	9,544	6,683
Level 2 \| Other Commingled Funds
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, fair value of plan assets	0	0
Level 2 \| Cash and Cash Equivalents
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, fair value of plan assets	1,267	722
Level 2 \| Other
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, fair value of plan assets	2,851	1,338
Level 3
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, fair value of plan assets	16,059	14,180
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 \| Other Commingled Funds
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, fair value of plan assets	16,059	14,180
Level 3 \| Cash and Cash Equivalents
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, fair value of plan assets	0	0
Level 3 \| Other
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, fair value of plan assets	$ 0	$ 0