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CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Statement of Comprehensive Income [Abstract]
Net income	$ 121.3	$ 139.8
Other comprehensive (loss) income:
Pension and other postretirement adjustments, net of tax	(0.1)	0.4
Cumulative translation adjustment	(64.3)	36.6
Other comprehensive (loss) income	(64.4)	37.0
Comprehensive income	56.9	176.8
Comprehensive loss attributable to noncontrolling interest	0.1	0.0
Comprehensive income attributable to IDEX	$ 57.0	$ 176.8

- Definition

Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income (loss) and other comprehensive income (loss), attributable to noncontrolling interests. Excludes changes in equity resulting from investments by owners and distributions to owners.

+ References + Details

- Definition

Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income and other comprehensive income. Excludes changes in equity resulting from investments by owners and distributions to owners.

+ References + Details

- Definition

Amount after tax and reclassification adjustments of other comprehensive income (loss).

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- Definition

The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest.

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+ Details

Balance Sheet Components

3 Months Ended

Mar. 31, 2024

Additional Financial Information Disclosure [Abstract]

Balance Sheet Components


	March 31, 2024		December 31, 2023
RECEIVABLES - NET
Customers	$	429.1	$	419.0
Other	16.0		16.3
Total	445.1		435.3
Less: allowance for credit losses	7.2		7.5
Receivables - net	$	437.9	$	427.8
INVENTORIES - NET
Raw materials and component parts	$	283.4	$	268.1
Work in process	37.7		44.5
Finished goods	104.9		108.2
Inventories - net	$	426.0	$	420.8
ACCRUED EXPENSES
Payroll and related items	$	81.1	$	97.1
Management incentive compensation	6.8		16.4
Income taxes payable	32.7		18.5


Deferred revenue	62.4		55.9
Lease liability	21.7		22.0



Other	69.4		61.6
Accrued expenses	$	274.1	$	271.5

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

Share Repurchases	3 Months Ended
Share Repurchases	Mar. 31, 2024
Equity [Abstract]
Share Repurchases	Share Repurchases On March 17, 2020, the Company’s Board of Directors approved an increase of $500.0 million in the authorized level of repurchases of common stock. This approval is in addition to the prior repurchase authorization of the Board of Directors of $300.0 million on December 1, 2015. These authorizations have no expiration date. There were no share repurchases during the three months ended March 31, 2024 and 2023. As of March 31, 2024, the amount of share repurchase authorization remaining was $539.7 million.

Share-Based Compensation - Schedule of Weighted Average Option Fair Values and Assumptions (Details) - Stock options expense - $ / shares	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average fair value of grants (in dollars per share)	$ 63.74	$ 60.80
Dividend yield	1.09%	1.06%
Volatility	26.67%	27.19%
Risk-free interest rate	4.31%	4.12%
Expected life (in years)	4 years 7 months 6 days	4 years 6 months

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

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+ Details

Goodwill and Intangible Assets - Narrative (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization of intangible assets	$ 24.6	$ 23.6

Fair Value Measurements - Schedule of Fair Value of Debt Outstanding (Details) - Level 2 - USD ($) $ in Millions	Mar. 31, 2024	Dec. 31, 2023
Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total Borrowings, less unaccreted debt discount	$ 1,239.7	$ 1,203.5
Carrying Amount
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total Borrowings, less unaccreted debt discount	$ 1,329.9	$ 1,332.2

Share-Based Compensation - Restricted Stock Units Activity (Details) - Restricted stock expense	3 Months Ended
	Mar. 31, 2024 $ / shares shares
Shares
Unvested, beginning balance (in shares) \| shares	112,891
Granted (in shares) \| shares	28,545
Vested (in shares) \| shares	(15,035)
Forfeited (in shares) \| shares	(3,395)
Unvested, ending balance (in shares) \| shares	123,006
Weighted-Average Grant Date Fair Value
Unvested, beginning balance (in dollars per share) \| $ / shares	$ 193.03
Granted (in dollars per share) \| $ / shares	228.93
Vested (in dollars per share) \| $ / shares	198.33
Forfeited (in dollars per share) \| $ / shares	206.55
Unvested, ending balance (in dollars per share) \| $ / shares	$ 200.34

Business Segments (Tables)

3 Months Ended

Mar. 31, 2024

Segment Reporting [Abstract]

Schedule of Information on Company's Business Segments

Information on the Company’s business segments is presented below. The Company uses Adjusted EBITDA as its principal measure of segment performance. Intersegment sales are contracted with terms equivalent to those of an arm’s-length transaction.


	Three Months Ended March 31,
		2024		2023
NET SALES
Fluid & Metering Technologies
External customers		$	313.5	$	321.1
Intersegment sales		0.2		0.7
Total segment sales		313.7		321.8
Health & Science Technologies
External customers		309.4		350.3
Intersegment sales		0.7		0.7
Total segment sales		310.1		351.0
Fire & Safety/Diversified Products
External customers		177.6		174.0
Intersegment sales		0.4		0.4
Total segment sales		178.0		174.4
Intersegment eliminations		(1.3)		(1.8)
Net sales		$	800.5	$	845.4
ADJUSTED EBITDA
Fluid & Metering Technologies		$	105.4	$	106.2
Health & Science Technologies		81.4		100.7
Fire & Safety/Diversified Products		51.4		49.7
Segment Adjusted EBITDA		238.2		256.6
Corporate and other(1)		(29.9)		(26.8)
Adjusted EBITDA		208.3		229.8
Interest expense - net		(9.4)		(13.1)
Depreciation		(16.2)		(12.8)
Amortization of intangible assets		(24.6)		(23.6)
Fair value inventory step-up charges		(2.5)		—
Restructuring expenses and asset impairments		(1.1)		(0.5)
Income before income taxes		$	154.5	$	179.8

(1) Corporate expenses that can be identified with a segment have been included in determining segment results. The remainder is included in Corporate and other.


	March 31, 2024		December 31, 2023
ASSETS
Fluid & Metering Technologies	$	1,702.6	$	1,674.7
Health & Science Technologies	3,193.6		3,262.4
Fire & Safety/Diversified Products	804.3		792.6
Corporate and other	188.9		135.5
Total assets	$	5,889.4	$	5,865.2

Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	$ 3,541.2	$ 3,039.6
Other comprehensive loss before reclassification adjustments	(64.3)	36.6
Gain (loss) reclassified from Accumulated other comprehensive loss	(0.1)	0.6
Tax benefit	0.0	(0.2)
Other comprehensive (loss) income	(64.4)	37.0
Ending balance	3,618.3	3,229.5
Accumulated Other Comprehensive Loss
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	(45.8)	(126.2)
Ending balance	(110.2)	(89.2)
Cumulative Translation Adjustment
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	(49.3)	(137.1)
Other comprehensive loss before reclassification adjustments	(64.3)	36.6
Gain (loss) reclassified from Accumulated other comprehensive loss	0.0	0.0
Tax benefit	0.0	0.0
Other comprehensive (loss) income	(64.3)	36.6
Ending balance	(113.6)	(100.5)
Pension and Other Postretirement Adjustments
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	3.5	10.9
Other comprehensive loss before reclassification adjustments	0.0	0.0
Gain (loss) reclassified from Accumulated other comprehensive loss	(0.1)	0.6
Tax benefit	0.0	(0.2)
Other comprehensive (loss) income	(0.1)	0.4
Ending balance	$ 3.4	$ 11.3

- Definition

Amount after tax and reclassification adjustments of other comprehensive income (loss).

+ References

+ Details

- Definition

Amount of tax expense (benefit) allocated to other comprehensive income (loss).

+ References

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Amount of equity (deficit) attributable to parent and noncontrolling interest. Excludes temporary equity.

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-URI https://asc.fasb.org//1943274/2147481231/810-10-45-15

Reference 42: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 45
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-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481231/810-10-45-16

Reference 43: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 55
-Paragraph 4I
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481175/810-10-55-4I

+ Details

Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2024

Fair Value Disclosures [Abstract]

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

The following table summarizes the basis used to measure the Company’s financial assets (liabilities) at fair value on a recurring basis in the balance sheets at March 31, 2024 and December 31, 2023:


	Basis of Fair Value Measurements
	March 31, 2024		December 31, 2023
	Level 1		Level 1
Trading securities - mutual funds held in nonqualified SERP(1)	$	10.3	$	10.5
Available-for-sale securities - equities(2)	4.4		4.4

(1) The Supplemental Executive Retirement Plan (“SERP”) investment assets are offset by a SERP liability which represents the Company’s obligation to distribute SERP funds to participants. The SERP investment assets and liability are included in Other noncurrent assets and Other noncurrent liabilities, respectively, on the Condensed Consolidated Balance Sheets.

(2) The securities are included in Other current assets on the Condensed Consolidated Balance Sheets and are available for overnight cash settlement, if necessary, to fund current operations.

Schedule of Fair Value of the Outstanding Indebtedness

The following table provides the fair value of the outstanding indebtedness described in Note 8, “Borrowings,” which is based on quoted market prices and current market rates for debt with similar credit risk and maturity, as well as the carrying value. These fair value measurements are classified as Level 2 within the fair value hierarchy since they are determined based upon significant inputs observable in the market, including interest rates on recent financing transactions to entities with a credit rating similar to the Company’s rating.


	March 31, 2024				December 31, 2023
	Fair Value		Carrying Amount		Fair Value		Carrying Amount
Total Borrowings, less unaccreted debt discount	$	1,239.7	$	1,329.9	$	1,203.5	$	1,332.2

Goodwill and Intangible Assets (Tables)

3 Months Ended

Mar. 31, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Changes in Carrying Amount of Goodwill

The changes in the carrying amount of goodwill for the three months ended March 31, 2024, by reportable business segment, were as follows:


	FMT		HST		FSDP		IDEX
Goodwill	$	805.7	$	1,834.5	$	398.7	$	3,038.9
Accumulated goodwill impairment losses	(20.7)		(149.8)		(30.1)		(200.6)
Balance at January 1, 2024	785.0		1,684.7		368.6		2,838.3
Foreign currency translation	(4.5)		(27.7)		(3.6)		(35.8)

Measurement period adjustments	—		0.5		—		0.5

Balance at March 31, 2024	$	780.5	$	1,657.5	$	365.0	$	2,803.0

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 March 31, 2024 and December 31, 2023:


	At March 31, 2024							At December 31, 2023
	Gross Carrying Amount		Accumulated Amortization		Net		Weighted Average Life	Gross Carrying Amount		Accumulated Amortization		Net
Amortized intangible assets:
Patents	$	2.8	$	(2.1)	$	0.7	12	$	2.7	$	(2.0)	$	0.7
Trade names	169.3		(56.5)		112.8		15	171.9		(54.3)		117.6
Customer relationships	841.9		(239.1)		602.8		13	860.7		(228.7)		632.0
Unpatented technology	228.8		(69.8)		159.0		12	233.5		(66.3)		167.2
Software	4.9		(2.0)		2.9		5	5.3		(1.9)		3.4
Total amortized intangible assets	1,247.7		(369.5)		878.2		13	1,274.1		(353.2)		920.9
Indefinite-lived intangible assets:
Banjo trade name	62.1		—		62.1			62.1		—		62.1
Akron Brass trade name	28.8		—		28.8			28.8		—		28.8
Total intangible assets	$	1,338.6	$	(369.5)	$	969.1		$	1,365.0	$	(353.2)	$	1,011.8

Schedule of Finite-Lived Intangible Assets, Future Amortization Expense

Based on the intangible asset balances as of March 31, 2024, expected amortization expense for the remaining nine months of 2024 and for the years 2025 through 2028 is as follows:


	Estimated Amortization
Remainder of 2024	$	72.5
2025	95.3
2026	93.7
2027	90.4
2028	87.3

- Definition

Tabular disclosure of goodwill by reportable segment and in total which includes a rollforward schedule.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 24
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482548/350-20-55-24

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
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-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 6: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 9: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 10: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 11: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1A
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1A

Reference 12: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-2

+ Details

Acquisitions and Divestitures - Allocation of Acquisition Costs to Assets Acquired and Liabilities Assumed (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Dec. 31, 2023	Dec. 14, 2023	May 19, 2023
Business Acquisition [Line Items]
Goodwill	$ 2,803.0	$ 2,838.3
Nexsight
Business Acquisition [Line Items]
Current assets, net of cash acquired				$ 10.6
Property, plant and equipment				19.9
Goodwill				52.7
Intangible assets				45.6
Other noncurrent assets				5.4
Total assets acquired				134.2
Current liabilities				(1.2)
Deferred income taxes				(18.3)
Other noncurrent liabilities				(4.9)
Net assets acquired				$ 109.8
STC,LLC
Business Acquisition [Line Items]
Current assets, net of cash acquired			$ 16.9
Property, plant and equipment			12.5
Goodwill			104.5
Intangible assets			92.3
Other noncurrent assets			2.9
Total assets acquired			229.1
Current liabilities			(5.5)
Deferred income taxes			(20.5)
Other noncurrent liabilities			(2.7)
Net assets acquired			$ 200.4
Adjustment to purchase price	$ 1.6

Accumulated Other Comprehensive Loss

3 Months Ended

Mar. 31, 2024

Equity [Abstract]

Accumulated Other Comprehensive Loss

The components of Accumulated other comprehensive loss are as follows:


	Cumulative Translation Adjustment		Pension and Other Postretirement Adjustments		Accumulated Other Comprehensive Loss
Balance, December 31, 2023(1)	$	(49.3)	$	3.5	$	(45.8)
Other comprehensive loss before reclassification adjustments	(64.3)		—		(64.3)
Gain reclassified from Accumulated other comprehensive loss(2)(3)	—		(0.1)		(0.1)
Tax benefit	—		—		—
Net other comprehensive loss(1)	(64.3)		(0.1)		(64.4)
Balance, March 31, 2024(1)	(113.6)		3.4		(110.2)


	Cumulative Translation Adjustment		Pension and Other Postretirement Adjustments		Accumulated Other Comprehensive Loss
Balance, December 31, 2022(1)	$	(137.1)	$	10.9	$	(126.2)
Other comprehensive income before reclassification adjustments	36.6		—		36.6
Loss reclassified from Accumulated other comprehensive loss(2)(3)	—		0.6		0.6
Tax benefit	—		(0.2)		(0.2)
Net other comprehensive income(1)	36.6		0.4		37.0
Balance, March 31, 2023(1)	(100.5)		11.3		(89.2)

(1) Amounts are presented net of tax.

(2) Included in the computation of net periodic cost. See Note 13, “Retirement Benefits.”

(3) Included in Other (income) expense - net in the Condensed Consolidated Statements of Income.

Share-Based Compensation - Cash-settled Restricted Stock Activity (Details) - Cash-settled restricted stock expense	3 Months Ended
	Mar. 31, 2024 $ / shares shares
Shares
Unvested, beginning balance (in shares) \| shares	56,655
Granted (in shares) \| shares	19,760
Vested (in shares) \| shares	(14,980)
Forfeited (in shares) \| shares	(1,700)
Unvested, ending balance (in shares) \| shares	59,735
Weighted-Average Grant Date Fair Value
Unvested, beginning balance (in dollars per share) \| $ / shares	$ 217.11
Granted (in dollars per share) \| $ / shares	235.01
Vested (in dollars per share) \| $ / shares	235.97
Forfeited (in dollars per share) \| $ / shares	244.02
Unvested, ending balance (in dollars per share) \| $ / shares	$ 244.02

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Mar. 31, 2024	Dec. 31, 2023
Current assets
Cash and cash equivalents	$ 616.3	$ 534.3
Receivables - net	437.9	427.8
Inventories - net	426.0	420.8
Other current assets	74.3	63.4
Total current assets	1,554.5	1,446.3
Property, plant and equipment - net of accumulated depreciation of $556.1 and $545.7, respectively	428.2	430.3
Goodwill	2,803.0	2,838.3
Intangible assets - net	969.1	1,011.8
Other noncurrent assets	134.6	138.5
Total assets	5,889.4	5,865.2
Current liabilities
Trade accounts payable	185.8	179.7
Accrued expenses	274.1	271.5
Current portion of long-term borrowings	0.7	0.6
Dividends payable	0.0	48.5
Total current liabilities	460.6	500.3
Long-term borrowings - net	1,322.9	1,325.1
Deferred income taxes	286.0	291.9
Other noncurrent liabilities	201.6	206.7
Total liabilities	2,271.1	2,324.0
Commitments and contingencies (Note 14)
Preferred stock:
Authorized: 5.0 million shares, $.01 per share par value; Issued: None	0.0	0.0
Common stock:
Authorized: 150,000,000 shares, $.01 per share par value Issued: 90.1 million shares at March 31, 2024 and 90.1 million shares at December 31, 2023	0.9	0.9
Treasury stock at cost: 14.2 million shares at March 31, 2024 and 14.3 million shares at December 31, 2023	(1,179.3)	(1,187.0)
Additional paid-in capital	851.5	839.0
Retained earnings	4,055.7	3,934.3
Accumulated other comprehensive loss	(110.2)	(45.8)
Total shareholders’ equity	3,618.6	3,541.4
Noncontrolling interest	(0.3)	(0.2)
Total equity	3,618.3	3,541.2
Total liabilities and equity	$ 5,889.4	$ 5,865.2

Acquisitions and Divestitures - Acquired Intangible Assets and Weighted Average Amortization Periods (Details) - USD ($) $ in Millions	Dec. 14, 2023	May 19, 2023
KZValve
Finite-Lived Intangible Assets [Line Items]
Acquired intangible assets, Total	$ 92.3
KZValve \| Trade names
Finite-Lived Intangible Assets [Line Items]
Acquired intangible assets, Total	$ 9.3
Acquired intangible assets, Weighted Average Life	15 years
KZValve \| Customer relationships
Finite-Lived Intangible Assets [Line Items]
Acquired intangible assets, Total	$ 63.0
Acquired intangible assets, Weighted Average Life	15 years
KZValve \| Unpatented technology
Finite-Lived Intangible Assets [Line Items]
Acquired intangible assets, Total	$ 20.0
Acquired intangible assets, Weighted Average Life	11 years
Iridian
Finite-Lived Intangible Assets [Line Items]
Acquired intangible assets, Total		$ 45.6
Iridian \| Trade names
Finite-Lived Intangible Assets [Line Items]
Acquired intangible assets, Total		$ 5.2
Acquired intangible assets, Weighted Average Life		15 years
Iridian \| Customer relationships
Finite-Lived Intangible Assets [Line Items]
Acquired intangible assets, Total		$ 29.3
Acquired intangible assets, Weighted Average Life		12 years
Iridian \| Unpatented technology
Finite-Lived Intangible Assets [Line Items]
Acquired intangible assets, Total		$ 11.1
Acquired intangible assets, Weighted Average Life		11 years

Goodwill and Intangible Assets - Schedule of Changes in Carrying Amount of Goodwill (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Dec. 31, 2023
Goodwill and Intangible Assets Disclosure [Line Items]
Goodwill		$ 3,038.9
Accumulated goodwill impairment losses		(200.6)
Goodwill [Roll Forward]
Goodwill, beginning balance	$ 2,838.3
Foreign currency translation	(35.8)
Measurement period adjustments	0.5
Goodwill, ending balance	2,803.0
FMT
Goodwill and Intangible Assets Disclosure [Line Items]
Goodwill		805.7
Accumulated goodwill impairment losses		(20.7)
Goodwill [Roll Forward]
Goodwill, beginning balance	785.0
Foreign currency translation	(4.5)
Measurement period adjustments	0.0
Goodwill, ending balance	780.5
HST
Goodwill and Intangible Assets Disclosure [Line Items]
Goodwill		1,834.5
Accumulated goodwill impairment losses		(149.8)
Goodwill [Roll Forward]
Goodwill, beginning balance	1,684.7
Foreign currency translation	(27.7)
Measurement period adjustments	0.5
Goodwill, ending balance	1,657.5
FSDP
Goodwill and Intangible Assets Disclosure [Line Items]
Goodwill		398.7
Accumulated goodwill impairment losses		$ (30.1)
Goodwill [Roll Forward]
Goodwill, beginning balance	368.6
Foreign currency translation	(3.6)
Measurement period adjustments	0.0
Goodwill, ending balance	$ 365.0

Goodwill and Intangible Assets

3 Months Ended

Mar. 31, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets

The changes in the carrying amount of goodwill for the three months ended March 31, 2024, by reportable business segment, were as follows:


	FMT		HST		FSDP		IDEX
Goodwill	$	805.7	$	1,834.5	$	398.7	$	3,038.9
Accumulated goodwill impairment losses	(20.7)		(149.8)		(30.1)		(200.6)
Balance at January 1, 2024	785.0		1,684.7		368.6		2,838.3
Foreign currency translation	(4.5)		(27.7)		(3.6)		(35.8)

Measurement period adjustments	—		0.5		—		0.5

Balance at March 31, 2024	$	780.5	$	1,657.5	$	365.0	$	2,803.0

ASC 350, Goodwill and Other Intangible Assets (“ASC 350”), requires that goodwill be tested for impairment at the reporting unit level on an annual basis and between annual tests if an event occurs or circumstances change that would more likely than not reduce the fair value of the reporting unit below its carrying value. Annually, on October 31, goodwill and other acquired intangible assets with indefinite lives are tested for impairment. Based on the results of the Company’s annual impairment test at October 31, 2023, all reporting units had fair values in excess of their carrying values. During the three months ended March 31, 2024, there were no events or circumstances that would have required an interim impairment test.

The following table provides the gross carrying value and accumulated amortization for each major class of intangible asset at March 31, 2024 and December 31, 2023:


	At March 31, 2024							At December 31, 2023
	Gross Carrying Amount		Accumulated Amortization		Net		Weighted Average Life	Gross Carrying Amount		Accumulated Amortization		Net
Amortized intangible assets:
Patents	$	2.8	$	(2.1)	$	0.7	12	$	2.7	$	(2.0)	$	0.7
Trade names	169.3		(56.5)		112.8		15	171.9		(54.3)		117.6
Customer relationships	841.9		(239.1)		602.8		13	860.7		(228.7)		632.0
Unpatented technology	228.8		(69.8)		159.0		12	233.5		(66.3)		167.2
Software	4.9		(2.0)		2.9		5	5.3		(1.9)		3.4
Total amortized intangible assets	1,247.7		(369.5)		878.2		13	1,274.1		(353.2)		920.9
Indefinite-lived intangible assets:
Banjo trade name	62.1		—		62.1			62.1		—		62.1
Akron Brass trade name	28.8		—		28.8			28.8		—		28.8
Total intangible assets	$	1,338.6	$	(369.5)	$	969.1		$	1,365.0	$	(353.2)	$	1,011.8

The Banjo and Akron Brass trade names are indefinite-lived intangible assets which are tested for impairment on an annual basis in accordance with ASC 350 or more frequently if events or changes in circumstances indicate that the assets might be impaired. Based on the results of the Company’s annual impairment test at October 31, 2023, these indefinite-lived intangible assets had fair values in excess of their carrying values. During the three months ended March 31, 2024, there were no events or circumstances that would have required an interim impairment test on these indefinite-lived intangible assets.

Amortization of intangible assets was $24.6 million and $23.6 million for the three months ended March 31, 2024 and 2023, respectively. Based on the intangible asset balances as of March 31, 2024, expected amortization expense for the remaining nine months of 2024 and for the years 2025 through 2028 is as follows:


	Estimated Amortization
Remainder of 2024	$	72.5
2025	95.3
2026	93.7
2027	90.4
2028	87.3

Retirement Benefits (Tables)

3 Months Ended

Mar. 31, 2024

Retirement Benefits [Abstract]

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

The following tables provide the components of net periodic cost for its major defined benefit plans and its other postretirement plans.



	Pension Benefits
	Three Months Ended March 31,
	2024				2023
	U.S.		Non-U.S.		U.S.		Non-U.S.
Service cost	$	—	$	0.4	$	—	$	0.3
Interest cost	0.1		0.6		0.1		0.7
Expected return on plan assets	(0.1)		(0.4)		(0.1)		(0.4)
Net amortization	0.1		—		0.1		(0.2)
Net periodic cost	$	0.1	$	0.6	$	0.1	$	0.4


		Other Postretirement Benefits
	Three Months Ended March 31,
		2024		2023
Service cost		$	0.1	$	0.1
Interest cost		0.2		0.2
Net amortization		(0.2)		(0.2)
Net periodic cost		$	0.1	$	0.1

CONDENSED CONSOLIDATED STATEMENTS OF EQUITY (Parenthetical) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Statement of Stockholders' Equity [Abstract]
Pension and other postretirement adjustments, tax	$ 0.0	$ 0.2
Net issuance of shares of common stock, tax amount	$ 2.2	$ 1.8

Revenue - Receivables (Details) - USD ($) $ in Millions	Mar. 31, 2024	Dec. 31, 2023
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total customer receivables	$ 429.1	$ 419.0
Unbilled receivables	9.7	10.9
Billed receivables
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total customer receivables	$ 419.4	$ 408.1

Commitments and Contingencies	3 Months Ended
Commitments and Contingencies	Mar. 31, 2024
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies The Company and certain of its subsidiaries are involved in pending and threatened legal, regulatory and other proceedings arising in the ordinary course of business. These proceedings may pertain to matters such as product liability or contract disputes, and may also involve governmental inquiries, inspections, audits or investigations relating to issues such as tax matters, intellectual property, environmental, health and safety issues, governmental regulations, employment and other matters. Although the results of such legal proceedings cannot be predicted with certainty, the Company believes that the ultimate disposition of these matters will not have a material adverse effect, individually or in the aggregate, on the Company’s business, financial condition, results of operations or cash flows.

Earnings Per Common Share (Tables)

3 Months Ended

Mar. 31, 2024

Earnings Per Share [Abstract]

Schedule of Basic Weighted Average Shares Reconciles to Diluted Weighted Average Shares

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


	Three Months Ended March 31,
		2024	2023
Basic weighted average common shares outstanding		75.7	75.6
Dilutive effect of restricted stock, performance share units and stock options		0.2	0.3
Diluted weighted average common shares outstanding		75.9	75.9

Retirement Benefits - Components of Net Periodic Benefit Cost for Defined Benefit Plans and Other Postretirement Plans (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Other Postretirement Benefits
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Service cost	$ 0.1	$ 0.1
Interest cost	0.2	0.2
Net amortization	(0.2)	(0.2)
Net periodic cost	0.1	0.1
U.S. \| Pension Benefits
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Service cost	0.0	0.0
Interest cost	0.1	0.1
Expected return on plan assets	(0.1)	(0.1)
Net amortization	0.1	0.1
Net periodic cost	0.1	0.1
Non-U.S. \| Pension Benefits
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Service cost	0.4	0.3
Interest cost	0.6	0.7
Expected return on plan assets	(0.4)	(0.4)
Net amortization	0.0	(0.2)
Net periodic cost	$ 0.6	$ 0.4

Share-Based Compensation

3 Months Ended

Mar. 31, 2024

Share-Based Payment Arrangement [Abstract]

Share-Based Compensation

The Company typically grants equity awards annually at its regularly scheduled first quarter meeting of the Board of Directors based on the recommendation from the Compensation Committee.

The Company’s policy is to recognize compensation cost on a straight-line basis, assuming forfeitures, over the requisite service period for the entire award. Classification of share-based compensation cost within the Condensed Consolidated Statements of Income is consistent with the classification of cash compensation for the same employees.

Stock Options

Stock options granted under the Company’s plans are generally non-qualified and are granted with an exercise price equal to the market price of the Company’s stock on the date of grant. The fair value of each option grant was estimated on the date of the grant using the Black Scholes valuation model. Stock options generally vest ratably over four years, with vesting beginning one year from the date of grant, and generally expire 10 years from the date of grant. The service period for certain retiree eligible participants is accelerated. The assumptions used in determining the fair value of the stock options granted in the respective periods were as follows:


	Three Months Ended March 31,
		2024	2023
Weighted average fair value of grants		$63.74	$60.80
Dividend yield		1.09%	1.06%
Volatility		26.67%	27.19%
Risk-free interest rate		4.31%	4.12%
Expected life (in years)		4.60	4.50

A summary of the Company’s stock option activity as of March 31, 2024 and changes during the three months ended March 31, 2024 are presented in the following table:


	Shares	Weighted Average Price		Weighted-Average Remaining Contractual Term	Aggregate Intrinsic Value
Stock Options
Outstanding at January 1, 2024	983,267	$	178.86	6.88	$	39.3
Granted	192,065	234.91
Exercised	(64,168)	154.88
Forfeited	(14,482)	185.34
Outstanding at March 31, 2024	1,096,682	$	190.00	7.28	$	59.2
Vested and expected to vest as of March 31, 2024	1,053,090	$	188.59	7.20	$	58.4
Exercisable at March 31, 2024	605,708	$	166.99	5.91	$	46.7

As of March 31, 2024, there was $14.5 million of total unrecognized compensation cost related to stock options that is expected to be recognized over a weighted-average period of 1.6 years.

Restricted Stock

Restricted stock awards generally cliff vest after three years for employees and non-employee directors. The service period for certain retiree eligible participants is accelerated. Unvested restricted stock carries dividend and voting rights and the sale of the shares is restricted prior to the date of vesting. Dividends are paid on restricted stock awards and their fair value is equal to the market price of the Company’s stock at the date of the grant. A summary of the Company’s restricted stock activity as of March 31, 2024 and changes during the three months ended March 31, 2024 are presented in the following table:


Restricted Stock	Shares	Weighted-Average Grant Date Fair Value
Unvested at January 1, 2024	112,891	$	193.03
Granted	28,545	228.93
Vested	(15,035)	198.33
Forfeited	(3,395)	206.55
Unvested at March 31, 2024	123,006	$	200.34

As of March 31, 2024, there was $11.3 million of total unrecognized compensation cost related to restricted stock that is expected to be recognized over a weighted-average period of 1.1 years.

Cash-Settled Restricted Stock

The Company also maintains a cash-settled share-based compensation plan for certain employees. Cash-settled restricted stock awards generally cliff vest after three years. The service period for certain retiree eligible participants is accelerated. Cash-settled restricted stock awards are recorded at fair value on a quarterly basis using the market price of the Company’s stock on the last day of the quarter. At March 31, 2024 and December 31, 2023, the Company had accrued $3.8 million and $4.2 million, respectively, for cash-settled restricted stock in Accrued expenses in the Condensed Consolidated Balance Sheets and had accrued $1.7 million and $2.9 million, respectively, for cash-settled restricted stock in Other noncurrent liabilities in the Condensed Consolidated Balance Sheets. These recurring fair value measurements are classified as Level 1 in the fair value hierarchy. Dividend equivalents are paid on certain cash-settled restricted stock awards. A summary of the Company’s unvested cash-settled restricted stock activity as of March 31, 2024 and changes during the three months ended March 31, 2024 are presented in the following table:


Cash-Settled Restricted Stock	Shares	Weighted-Average Fair Value
Unvested at January 1, 2024	56,655	$	217.11
Granted	19,760	235.01
Vested	(14,980)	235.97
Forfeited	(1,700)	244.02
Unvested at March 31, 2024	59,735	$	244.02

As of March 31, 2024, there was $7.0 million of total unrecognized compensation cost related to cash-settled restricted shares that is expected to be recognized over a weighted-average period of 1.2 years.

Performance Share Units

The performance share units are market condition awards and have been assessed at fair value on the date of grant using a Monte Carlo simulation model. The assumptions used in determining the fair value of the performance share units granted in the respective periods were as follows:


	Three Months Ended March 31,
	2024	2023
Weighted average fair value of grants	$349.59	$308.18
Dividend yield	—%	—%
Volatility	22.23%	27.00%
Risk-free interest rate	4.45%	4.37%
Expected life (in years)	2.94	2.94

A summary of the Company’s performance share unit activity as of March 31, 2024 and changes during the three months ended March 31, 2024 are presented in the following table:


Performance Share Units	Shares	Weighted-Average Grant Date Fair Value
Unvested at January 1, 2024	67,455	$	265.15
Granted	27,135	349.59
Vested	(9,606)	245.40
Forfeited	(10,629)	246.70
Unvested at March 31, 2024	74,355	$	300.72

On January 31, 2024, 19,200 performance share units vested. Based on the Company’s relative total shareholder return rank during the three-year period ended January 31, 2024, the Company achieved a 50% payout factor and issued 9,606 common shares in February 2024 for awards that vested in 2024.

As of March 31, 2024, there was $5.7 million of total unrecognized compensation cost related to performance share units that is expected to be recognized over a weighted-average period of 1.2 years.

Summary of Share-Based Compensation Expense

Pre-tax compensation cost is recognized in both Cost of sales and Selling, general and administrative expenses in the Condensed Consolidated Statements of Income depending on the functional area of the underlying employees. Total compensation cost related to all share-based awards was as follows:


	Three Months Ended March 31,
	2024		2023
Stock options expense	$	5.4	$	6.0
Restricted stock expense	2.0		1.6
Cash-settled restricted stock expense	1.9		1.1
Performance share units expense	5.1		5.2
Total pre-tax share-based compensation expense	14.4		13.9
Income tax benefit	(0.9)		(0.8)
Total share-based compensation expense, net of income taxes	$	13.5	$	13.1

Basis of Presentation and Significant Accounting Policies	3 Months Ended
	Mar. 31, 2024
Accounting Policies [Abstract]
Basis of Presentation and Significant Accounting Policies	Basis of Presentation and Significant Accounting Policies The Condensed Consolidated Financial Statements of IDEX Corporation (“IDEX” or the “Company”) have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) applicable to interim financial information and the instructions to Form 10-Q under the Securities Exchange Act of 1934, as amended. The statements are unaudited but include all adjustments, consisting only of recurring items, except as noted, that the Company considers necessary for a fair presentation of the information set forth herein. The results of operations for the three months ended March 31, 2024 are not necessarily indicative of the results to be expected for the entire year. The Condensed Consolidated Financial Statements and Management’s Discussion and Analysis of Financial Condition and Results of Operations set forth in this report should be read in conjunction with the Company’s Annual Report on Form 10-K for the year ended December 31, 2023. Recently Issued Accounting Standards In November 2023, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures, which improves the disclosures required for reportable segments in the Company’s annual and interim financial statements, primarily through enhanced disclosures about significant segment expenses. ASU 2023-07 is effective for annual periods beginning after December 15, 2023 and interim periods within fiscal years beginning after December 15, 2024. Adoption of this ASU should be applied retrospectively to all prior periods presented in the financial statements. Early adoption is permitted. The Company is currently evaluating the impact of the adoption of this standard on the Consolidated Financial Statements and disclosures. In December 2023, the FASB issued ASU 2023-09, Improvements to Income Tax Disclosures, which requires public entities, on an annual basis, to disclose standard categories in tax rate reconciliations, additional information for reconciling items that meet a quantitative threshold and income taxes paid disaggregated by jurisdiction. ASU 2023-09 is effective for annual periods beginning after December 15, 2024. Early adoption is permitted. The Company is currently evaluating the impact of the adoption of this standard on the Consolidated Financial Statements and disclosures.

Borrowings

3 Months Ended

Mar. 31, 2024

Debt Disclosure [Abstract]

Borrowings

Borrowings at March 31, 2024 and December 31, 2023 consisted of the following:


	March 31, 2024		December 31, 2023

3.37% Senior Notes, due June 2025 (the “3.37% Senior Notes”)	100.0		100.0
5.13% Senior Notes, due June 2028 (the “5.13% Senior Notes”)	100.0		100.0
3.00% Senior Notes, due May 2030 (the “3.00% Senior Notes”)	500.0		500.0
2.625% Senior Notes, due June 2031 (the “2.625% Senior Notes”)	500.0		500.0
$800.0 million Revolving Facility, due November 2027 (the “Revolving Facility”)(1)	78.8		81.0
$200.0 million Term Facility, due November 2027 (the “Term Facility”)(2)	50.0		50.0
Other borrowings	2.1		2.3
Total borrowings	1,330.9		1,333.3
Less: current portion	0.7		0.6
Less: deferred debt issuance costs	6.3		6.5
Less: unaccreted debt discount	1.0		1.1
Long-term borrowings	$	1,322.9	$	1,325.1

(1) At March 31, 2024, there was $78.8 million outstanding under the Revolving Facility and $3.4 million of outstanding letters of credit, resulting in a net available borrowing capacity under the Revolving Facility of approximately $717.8 million. The weighted-average interest rate for borrowings outstanding under the Revolving Facility was 5.02% and 4.22% as of March 31, 2024 and December 31, 2023, respectively.

(2) The weighted-average interest rate for borrowings outstanding under the Term Facility was 6.66% and 6.22% as of March 31, 2024 and December 31, 2023, respectively.

At March 31, 2024, the Company was in compliance with the covenants contained in the credit agreement associated with the Revolving Facility as well as other long-term debt agreements.

- Definition

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

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(c))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
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-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//470/tableOfContent

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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-Paragraph 1B
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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-Paragraph 1B
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-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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-Paragraph 1B
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-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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-Publisher FASB
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
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Reference 11: http://www.xbrl.org/2003/role/disclosureRef
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Reference 12: http://www.xbrl.org/2003/role/disclosureRef
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Reference 13: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1I

+ Details

Income Taxes

3 Months Ended

Mar. 31, 2024

Income Tax Disclosure [Abstract]

Income Taxes

The Company’s provision for income taxes is based upon estimated annual tax rates for the year applied to federal, state and foreign income. The provision for income taxes and the effective tax rates were as follows:


	Three Months Ended March 31, 2024
		2024			2023
Provision for income taxes		$	33.2		$	40.0
Effective tax rate		21.5		%	22.2		%

The effective tax rate for the three months ended March 31, 2024 reflects the impact of a discrete benefit related to the finalization of tax impacts with taxing authorities of a previously recorded legal entity restructuring.

- Definition

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

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Publisher FASB
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
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-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Goodwill and Intangible Assets - Schedule of Finite Lived Intangible Assets Future Amortization Expense (Details) $ in Millions	Mar. 31, 2024 USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
Remainder of 2024	$ 72.5
2025	95.3
2026	93.7
2027	90.4
2028	$ 87.3

Share-Based Compensation - Schedule of Weighted Average Performance Share Units Fair Values and Assumptions (Details) - Performance share units expense - $ / shares	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average fair value of grants (in dollars per share)	$ 349.59	$ 308.18
Dividend yield	0.00%	0.00%
Volatility	22.23%	27.00%
Risk-free interest rate	4.45%	4.37%
Expected life (in years)	2 years 11 months 8 days	2 years 11 months 8 days

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

+ Details

Revenue

3 Months Ended

Mar. 31, 2024

Revenue from Contract with Customer [Abstract]

Revenue

Disaggregation of Revenue

The Company has a comprehensive offering of products, including technologies, built to customers’ specifications that are sold in niche markets throughout the world. The Company disaggregates revenue from contracts with customers by reporting unit and geographical region for each segment as the Company believes it best depicts how the amount, nature, timing and uncertainty of its revenue and cash flows are affected by economic factors. Revenue, or Net sales, was attributed to geographical region based on the location of the customer. The following tables present revenue disaggregated by reporting unit and geographical region.

Revenue by reporting unit for the three months ended March 31, 2024 and 2023 was as follows:


	Three Months Ended March 31,
		2024		2023
Pumps		$	101.9	$	105.1
Water		83.0		94.1
Energy		52.6		50.7
Agriculture		39.7		38.6
Valves		36.5		33.3
Intersegment elimination		(0.2)		(0.7)
Fluid & Metering Technologies		313.5		321.1
Scientific Fluidics & Optics		162.7		178.6
Sealing Solutions		60.5		64.7
Performance Pneumatic Technologies		57.5		69.4
Material Processing Technologies		29.4		27.7
Micropump(1)		—		10.6
Intersegment elimination		(0.7)		(0.7)
Health & Science Technologies		309.4		350.3
Fire & Safety		105.1		106.2
Dispensing		41.5		36.2
BAND-IT		31.4		32.0
Intersegment elimination		(0.4)		(0.4)
Fire & Safety/Diversified Products		177.6		174.0
Net sales		$	800.5	$	845.4

(1) Revenue from Micropump, Inc. (sold on August 3, 2023) has been included in the Condensed Consolidated Statements of Income through the date of disposition.

Revenue by geographical region for the three months ended March 31, 2024 and 2023 was as follows:



	Three Months Ended March 31, 2024
	FMT		HST		FSDP		IDEX
U.S.	$	172.6	$	138.9	$	86.1	$	397.6
North America, excluding U.S.	16.3		5.6		7.4		29.3
Europe	58.8		104.1		45.0		207.9
Asia	44.7		55.7		30.7		131.1
Other(1)	21.3		5.8		8.8		35.9
Intersegment elimination	(0.2)		(0.7)		(0.4)		(1.3)
Net sales	$	313.5	$	309.4	$	177.6	$	800.5



	Three Months Ended March 31, 2023
	FMT		HST		FSDP		IDEX
U.S.	$	176.8	$	149.6	$	89.4	$	415.8
North America, excluding U.S.	19.4		5.2		8.5		33.1
Europe	59.2		120.9		44.7		224.8
Asia	45.1		66.6		23.4		135.1
Other(1)	21.3		8.7		8.4		38.4
Intersegment elimination	(0.7)		(0.7)		(0.4)		(1.8)
Net sales	$	321.1	$	350.3	$	174.0	$	845.4

(1) Other includes: South America, Middle East, Australia and Africa.

Performance Obligations

The Company’s performance obligations are satisfied either at a point in time or over time as work progresses. Revenue from products and services transferred to customers at a point in time comprised approximately 95% of the Company’s revenue and over time comprised approximately 5% of the Company’s revenue for both the three months ended March 31, 2024 and 2023, respectively.

Contract Assets and Liabilities

The timing of billings and cash collections can result in customer receivables, billings in excess of revenue recognized, advance payments or deposits. Customer receivables include both amounts billed and currently due from customers as well as unbilled amounts (contract assets) and are included in Receivables - net on the Condensed Consolidated Balance Sheets.

The composition of customer receivables was as follows:


	March 31, 2024		December 31, 2023
Billed receivables	$	419.4	$	408.1
Unbilled receivables	9.7		10.9
Total customer receivables	$	429.1	$	419.0

Billings in excess of revenue recognized, advance payments and deposits represent contract liabilities and are included in deferred revenue which is classified as current or noncurrent based on when the Company expects to recognize the revenue. The current portion is included in Accrued expenses and the noncurrent portion is included in Other noncurrent liabilities on the Condensed Consolidated Balance Sheets.

The composition of deferred revenue was as follows:


	March 31, 2024		December 31, 2023
Deferred revenue - current	$	62.4	$	55.9
Deferred revenue - noncurrent	17.9		17.3
Total deferred revenue	$	80.3	$	73.2

- Definition

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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-Section 50
-Paragraph 12
-Subparagraph (e)
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Name Accounting Standards Codification
-Topic 606
-Publisher FASB
-URI https://asc.fasb.org//606/tableOfContent

+ Details

Revenue - Revenue by Reporting Unit (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Disaggregation of Revenue [Line Items]
Net sales	$ 800.5	$ 845.4
Fluid & Metering Technologies
Disaggregation of Revenue [Line Items]
Net sales	313.5	321.1
Health & Science Technologies
Disaggregation of Revenue [Line Items]
Net sales	309.4	350.3
Fire & Safety/Diversified Products
Disaggregation of Revenue [Line Items]
Net sales	177.6	174.0
Operating segments \| Fluid & Metering Technologies
Disaggregation of Revenue [Line Items]
Net sales	313.5	321.1
Operating segments \| Fluid & Metering Technologies \| Pumps
Disaggregation of Revenue [Line Items]
Net sales	101.9	105.1
Operating segments \| Fluid & Metering Technologies \| Water
Disaggregation of Revenue [Line Items]
Net sales	83.0	94.1
Operating segments \| Fluid & Metering Technologies \| Energy
Disaggregation of Revenue [Line Items]
Net sales	52.6	50.7
Operating segments \| Fluid & Metering Technologies \| Agriculture
Disaggregation of Revenue [Line Items]
Net sales	39.7	38.6
Operating segments \| Fluid & Metering Technologies \| Valves
Disaggregation of Revenue [Line Items]
Net sales	36.5	33.3
Operating segments \| Health & Science Technologies
Disaggregation of Revenue [Line Items]
Net sales	309.4	350.3
Operating segments \| Health & Science Technologies \| Scientific Fluidics & Optics
Disaggregation of Revenue [Line Items]
Net sales	162.7	178.6
Operating segments \| Health & Science Technologies \| Sealing Solutions
Disaggregation of Revenue [Line Items]
Net sales	60.5	64.7
Operating segments \| Health & Science Technologies \| Performance Pneumatic Technologies
Disaggregation of Revenue [Line Items]
Net sales	57.5	69.4
Operating segments \| Health & Science Technologies \| Material Processing Technologies
Disaggregation of Revenue [Line Items]
Net sales	29.4	27.7
Operating segments \| Health & Science Technologies \| Micropump
Disaggregation of Revenue [Line Items]
Net sales	0.0	10.6
Operating segments \| Fire & Safety/Diversified Products
Disaggregation of Revenue [Line Items]
Net sales	177.6	174.0
Operating segments \| Fire & Safety/Diversified Products \| Fire & Safety
Disaggregation of Revenue [Line Items]
Net sales	105.1	106.2
Operating segments \| Fire & Safety/Diversified Products \| Dispensing
Disaggregation of Revenue [Line Items]
Net sales	41.5	36.2
Operating segments \| Fire & Safety/Diversified Products \| BAND-IT
Disaggregation of Revenue [Line Items]
Net sales	31.4	32.0
Intersegment eliminations
Disaggregation of Revenue [Line Items]
Net sales	(1.3)	(1.8)
Intersegment eliminations \| Fluid & Metering Technologies
Disaggregation of Revenue [Line Items]
Net sales	(0.2)	(0.7)
Intersegment eliminations \| Health & Science Technologies
Disaggregation of Revenue [Line Items]
Net sales	(0.7)	(0.7)
Intersegment eliminations \| Fire & Safety/Diversified Products
Disaggregation of Revenue [Line Items]
Net sales	$ (0.4)	$ (0.4)

Borrowings - Schedule of Debt (Details) - USD ($)	Mar. 31, 2024	Dec. 31, 2023
Debt Instrument [Line Items]
Total borrowings	$ 1,330,900,000	$ 1,333,300,000
Other borrowings	2,100,000	2,300,000
Less: current portion	700,000	600,000
Less: deferred debt issuance costs	6,300,000	6,500,000
Less: unaccreted debt discount	1,000,000.0	1,100,000
Long-term borrowings	1,322,900,000	1,325,100,000
Revolving Facility
Debt Instrument [Line Items]
Letters of credit outstanding	3,400,000
Amount available to borrow	$ 717,800,000
Senior Notes \| 3.37% Senior Notes, due June 2025 (the “3.37% Senior Notes”)
Debt Instrument [Line Items]
Stated interest rate	3.37%
Total borrowings	$ 100,000,000.0	100,000,000.0
Senior Notes \| 5.13% Senior Notes, due June 2028 (the “5.13% Senior Notes”)
Debt Instrument [Line Items]
Stated interest rate	5.13%
Total borrowings	$ 100,000,000.0	100,000,000.0
Senior Notes \| 3.00% Senior Notes, due May 2030 (the “$3.00% Senior Notes”)
Debt Instrument [Line Items]
Stated interest rate	3.00%
Total borrowings	$ 500,000,000.0	500,000,000.0
Senior Notes \| 2.625% Senior Notes, due June 2031 (the “2.625% Senior Notes”)
Debt Instrument [Line Items]
Stated interest rate	2.625%
Total borrowings	$ 500,000,000.0	500,000,000.0
Line of Credit \| Revolving Facility
Debt Instrument [Line Items]
Borrowing capacity	800,000,000
Long-term debt, gross	$ 78,800,000	$ 81,000,000.0
Weighted average interest rate	5.02%	4.22%
Line of Credit \| Secured Debt
Debt Instrument [Line Items]
Borrowing capacity	$ 200,000,000
Long-term debt, gross	$ 50,000,000.0	$ 50,000,000.0
Weighted average interest rate	6.66%	6.22%

Share-Based Compensation - Performance Share Unit Activity (Details) - Performance share units expense - $ / shares		3 Months Ended
	Jan. 31, 2024	Mar. 31, 2024
Shares
Unvested, beginning balance (in shares)		67,455
Granted (in shares)	19,200	27,135
Vested (in shares)		(9,606)
Forfeited (in shares)		(10,629)
Unvested, ending balance (in shares)		74,355
Weighted-Average Grant Date Fair Value
Unvested, beginning balance (in dollars per share)		$ 265.15
Granted (in dollars per share)		349.59
Vested (in dollars per share)		245.40
Forfeited (in dollars per share)		246.70
Unvested, ending balance (in dollars per share)		$ 300.72

Income Taxes (Tables)

3 Months Ended

Mar. 31, 2024

Income Tax Disclosure [Abstract]

Schedule of Provision for Income Taxes and the Effective Tax Rate


	Three Months Ended March 31, 2024
		2024			2023
Provision for income taxes		$	33.2		$	40.0
Effective tax rate		21.5		%	22.2		%

Revenue - Performance Obligations (Details) - Revenue from Contract with Customer - Product Concentration Risk	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Transferred at Point in Time
Disaggregation of Revenue [Line Items]
Revenue from products and services transferred to customers	95.00%	95.00%
Transferred over Time
Disaggregation of Revenue [Line Items]
Revenue from products and services transferred to customers	5.00%	5.00%

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

Revenue (Tables)

3 Months Ended

Mar. 31, 2024

Revenue from Contract with Customer [Abstract]

Schedule of Disaggregation of Revenue

Revenue by reporting unit for the three months ended March 31, 2024 and 2023 was as follows:


	Three Months Ended March 31,
		2024		2023
Pumps		$	101.9	$	105.1
Water		83.0		94.1
Energy		52.6		50.7
Agriculture		39.7		38.6
Valves		36.5		33.3
Intersegment elimination		(0.2)		(0.7)
Fluid & Metering Technologies		313.5		321.1
Scientific Fluidics & Optics		162.7		178.6
Sealing Solutions		60.5		64.7
Performance Pneumatic Technologies		57.5		69.4
Material Processing Technologies		29.4		27.7
Micropump(1)		—		10.6
Intersegment elimination		(0.7)		(0.7)
Health & Science Technologies		309.4		350.3
Fire & Safety		105.1		106.2
Dispensing		41.5		36.2
BAND-IT		31.4		32.0
Intersegment elimination		(0.4)		(0.4)
Fire & Safety/Diversified Products		177.6		174.0
Net sales		$	800.5	$	845.4

(1) Revenue from Micropump, Inc. (sold on August 3, 2023) has been included in the Condensed Consolidated Statements of Income through the date of disposition.

Schedule of External Net Sales Disaggregated by Geography

Revenue by geographical region for the three months ended March 31, 2024 and 2023 was as follows:



	Three Months Ended March 31, 2024
	FMT		HST		FSDP		IDEX
U.S.	$	172.6	$	138.9	$	86.1	$	397.6
North America, excluding U.S.	16.3		5.6		7.4		29.3
Europe	58.8		104.1		45.0		207.9
Asia	44.7		55.7		30.7		131.1
Other(1)	21.3		5.8		8.8		35.9
Intersegment elimination	(0.2)		(0.7)		(0.4)		(1.3)
Net sales	$	313.5	$	309.4	$	177.6	$	800.5



	Three Months Ended March 31, 2023
	FMT		HST		FSDP		IDEX
U.S.	$	176.8	$	149.6	$	89.4	$	415.8
North America, excluding U.S.	19.4		5.2		8.5		33.1
Europe	59.2		120.9		44.7		224.8
Asia	45.1		66.6		23.4		135.1
Other(1)	21.3		8.7		8.4		38.4
Intersegment elimination	(0.7)		(0.7)		(0.4)		(1.8)
Net sales	$	321.1	$	350.3	$	174.0	$	845.4

(1) Other includes: South America, Middle East, Australia and Africa.

Schedule of Contract with Customer, Asset and Liability

The composition of customer receivables was as follows:


	March 31, 2024		December 31, 2023
Billed receivables	$	419.4	$	408.1
Unbilled receivables	9.7		10.9
Total customer receivables	$	429.1	$	419.0

Schedule of New Accounting Pronouncements and Changes in Accounting Principles

The composition of deferred revenue was as follows:


	March 31, 2024		December 31, 2023
Deferred revenue - current	$	62.4	$	55.9
Deferred revenue - noncurrent	17.9		17.3
Total deferred revenue	$	80.3	$	73.2

Pay vs Performance Disclosure - USD ($) $ in Millions	3 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Millions	Mar. 31, 2024	Mar. 31, 2023
Pay vs Performance Disclosure
Net Income (Loss)	$ 121.4	$ 139.8

- Definition

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

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Retirement Benefits

3 Months Ended

Mar. 31, 2024

Retirement Benefits [Abstract]

Retirement Benefits

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



	Pension Benefits
	Three Months Ended March 31,
	2024				2023
	U.S.		Non-U.S.		U.S.		Non-U.S.
Service cost	$	—	$	0.4	$	—	$	0.3
Interest cost	0.1		0.6		0.1		0.7
Expected return on plan assets	(0.1)		(0.4)		(0.1)		(0.4)
Net amortization	0.1		—		0.1		(0.2)
Net periodic cost	$	0.1	$	0.6	$	0.1	$	0.4


		Other Postretirement Benefits
	Three Months Ended March 31,
		2024		2023
Service cost		$	0.1	$	0.1
Interest cost		0.2		0.2
Net amortization		(0.2)		(0.2)
Net periodic cost		$	0.1	$	0.1

The Company recognizes the service cost component in both Cost of sales and Selling, general and administrative expenses in the Condensed Consolidated Statements of Income depending on the functional area of the underlying employees and the interest cost, expected return on plan assets and net amortization components in Other (income) expense - net in the Condensed Consolidated Statements of Income.

The Company expects to contribute approximately $3.6 million to its defined benefit plans and $1.1 million to its other post-retirement benefit plans in 2024. The Company contributed a total of $1.2 million and $1.3 million to fund these plans during the three months ended March 31, 2024 and 2023, respectively.

- Definition

The entire disclosure for retirement benefits.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Share-Based Compensation - Stock Options Activity (Details) - Stock options expense - USD ($) $ / shares in Units, $ in Millions	3 Months Ended	12 Months Ended
	Mar. 31, 2024	Dec. 31, 2023
Shares
Beginning balance (in shares)	983,267
Granted (in shares)	192,065
Exercised (in shares)	(64,168)
Forfeited (in shares)	(14,482)
Ending balance (in shares)	1,096,682	983,267
Vested and expected to vest (in shares)	1,053,090
Exercisable (in shares)	605,708
Weighted Average Price
Beginning balance (in dollars per share)	$ 178.86
Granted (in dollars per share)	234.91
Exercised (in dollars per share)	154.88
Forfeited (in dollars per share)	185.34
Ending balance (in dollars per share)	190.00	$ 178.86
Vested and expected to vest (in dollars per share)	188.59
Exercisable (in dollars per share)	$ 166.99
Weighted-Average Remaining Contractual Term
Stock options outstanding, weighted-average remaining contractual term	7 years 3 months 10 days	6 years 10 months 17 days
Weighted-average remaining contractual term, vested and expected to vest	7 years 2 months 12 days
Weighted-average remaining contractual term, exercisable	5 years 10 months 28 days
Aggregate Intrinsic Value
Stock options outstanding, aggregate intrinsic value	$ 59.2	$ 39.3
Aggregate intrinsic value, vested and expected to vest	58.4
Aggregate intrinsic value, exercisable	$ 46.7

Earnings Per Common Share

3 Months Ended

Mar. 31, 2024

Earnings Per Share [Abstract]

Earnings Per Common Share

Diluted earnings per common share (“EPS”) attributable to IDEX is computed by dividing Net income attributable to IDEX by the weighted average number of common shares outstanding (basic) plus common stock equivalents outstanding (diluted) for the period. Common stock equivalents consist of restricted stock, performance share units and stock options, which have been included in the calculation of weighted average common shares outstanding using the treasury stock method.

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

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


	Three Months Ended March 31,
		2024	2023
Basic weighted average common shares outstanding		75.7	75.6
Dilutive effect of restricted stock, performance share units and stock options		0.2	0.3
Diluted weighted average common shares outstanding		75.9	75.9

Share-based payment awards of approximately 0.5 million and 0.2 million shares of common stock for the three months ended March 31, 2024 and 2023, respectively, were not included in the computation of Diluted EPS attributable to IDEX because the effect of their inclusion would have been antidilutive.

Share-Based Compensation - Pre-Tax Compensation Cost (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total pre-tax share-based compensation expense	$ 14.4	$ 13.9
Income tax benefit	(0.9)	(0.8)
Total share-based compensation expense, net of income taxes	13.5	13.1
Stock options expense
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total pre-tax share-based compensation expense	5.4	6.0
Restricted stock expense
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total pre-tax share-based compensation expense	2.0	1.6
Cash-settled restricted stock expense
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total pre-tax share-based compensation expense	1.9	1.1
Performance share units expense
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total pre-tax share-based compensation expense	$ 5.1	$ 5.2

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

+ Details

Income Taxes (Details) - USD ($) $ in Millions	3 Months Ended
Income Taxes (Details) - USD ($) $ in Millions	Mar. 31, 2024	Mar. 31, 2023
Income Tax Disclosure [Abstract]
Provision for income taxes	$ 33.2	$ 40.0
Effective tax rate	21.50%	22.20%

- Definition

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

+ References + Details

Business Segments - Narrative (Details)	3 Months Ended
Business Segments - Narrative (Details)	Mar. 31, 2024 segment
Segment Reporting [Abstract]
Number of reportable business segments	3

Borrowings (Tables)

3 Months Ended

Mar. 31, 2024

Debt Disclosure [Abstract]

Schedule of Borrowings

Borrowings at March 31, 2024 and December 31, 2023 consisted of the following:


	March 31, 2024		December 31, 2023

3.37% Senior Notes, due June 2025 (the “3.37% Senior Notes”)	100.0		100.0
5.13% Senior Notes, due June 2028 (the “5.13% Senior Notes”)	100.0		100.0
3.00% Senior Notes, due May 2030 (the “3.00% Senior Notes”)	500.0		500.0
2.625% Senior Notes, due June 2031 (the “2.625% Senior Notes”)	500.0		500.0
$800.0 million Revolving Facility, due November 2027 (the “Revolving Facility”)(1)	78.8		81.0
$200.0 million Term Facility, due November 2027 (the “Term Facility”)(2)	50.0		50.0
Other borrowings	2.1		2.3
Total borrowings	1,330.9		1,333.3
Less: current portion	0.7		0.6
Less: deferred debt issuance costs	6.3		6.5
Less: unaccreted debt discount	1.0		1.1
Long-term borrowings	$	1,322.9	$	1,325.1

(2) The weighted-average interest rate for borrowings outstanding under the Term Facility was 6.66% and 6.22% as of March 31, 2024 and December 31, 2023, respectively.

- 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

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Cash flows from operating activities
Net income	$ 121.3	$ 139.8
Adjustments to reconcile net income to net cash flows provided by operating activities:
Depreciation	16.2	12.8
Amortization of intangible assets	24.6	23.6
Share-based compensation expense	12.5	12.8
Deferred income taxes	0.2	(0.2)
Changes in (net of the effect from acquisitions and foreign currency translation):
Receivables - net	(12.2)	(0.7)
Inventories - net	(9.5)	(23.3)
Other current assets	(10.9)	(11.1)
Trade accounts payable	8.9	7.6
Deferred revenue	6.8	10.2
Accrued expenses	(1.5)	(24.9)
Other - net	0.2	1.3
Net cash flows provided by operating activities	156.6	147.9
Cash flows from investing activities
Capital expenditures	(20.0)	(26.6)
Purchases of marketable securities	0.0	(3.2)
Other - net	0.0	0.6
Net cash flows used in investing activities	(20.0)	(29.2)
Cash flows from financing activities
Cash dividends paid to shareholders	(48.5)	(45.5)
Proceeds from share issuances, net of shares withheld for taxes	7.7	0.3
Other - net	(0.2)	0.0
Net cash flows used in financing activities	(41.0)	(45.2)
Effect of exchange rate changes on cash and cash equivalents	(13.6)	7.0
Net increase in cash and cash equivalents	82.0	80.5
Cash and cash equivalents at beginning of year	534.3	430.2
Cash and cash equivalents at end of period	616.3	510.7
Cash paid for:
Interest	2.4	4.1
Income taxes - net	$ 18.4	$ 20.7

Business Segments

3 Months Ended

Mar. 31, 2024

Segment Reporting [Abstract]

Business Segments

IDEX has three reportable business segments: Fluid & Metering Technologies (“FMT”), Health & Science Technologies (“HST”) and Fire & Safety/Diversified Products (“FSDP”). When determining these reportable segments, the Company aggregated operating segments based on their similar economic and operating characteristics.


	Three Months Ended March 31,
		2024		2023
NET SALES
Fluid & Metering Technologies
External customers		$	313.5	$	321.1
Intersegment sales		0.2		0.7
Total segment sales		313.7		321.8
Health & Science Technologies
External customers		309.4		350.3
Intersegment sales		0.7		0.7
Total segment sales		310.1		351.0
Fire & Safety/Diversified Products
External customers		177.6		174.0
Intersegment sales		0.4		0.4
Total segment sales		178.0		174.4
Intersegment eliminations		(1.3)		(1.8)
Net sales		$	800.5	$	845.4
ADJUSTED EBITDA
Fluid & Metering Technologies		$	105.4	$	106.2
Health & Science Technologies		81.4		100.7
Fire & Safety/Diversified Products		51.4		49.7
Segment Adjusted EBITDA		238.2		256.6
Corporate and other(1)		(29.9)		(26.8)
Adjusted EBITDA		208.3		229.8
Interest expense - net		(9.4)		(13.1)
Depreciation		(16.2)		(12.8)
Amortization of intangible assets		(24.6)		(23.6)
Fair value inventory step-up charges		(2.5)		—
Restructuring expenses and asset impairments		(1.1)		(0.5)
Income before income taxes		$	154.5	$	179.8

(1) Corporate expenses that can be identified with a segment have been included in determining segment results. The remainder is included in Corporate and other.


	March 31, 2024		December 31, 2023
ASSETS
Fluid & Metering Technologies	$	1,702.6	$	1,674.7
Health & Science Technologies	3,193.6		3,262.4
Fire & Safety/Diversified Products	804.3		792.6
Corporate and other	188.9		135.5
Total assets	$	5,889.4	$	5,865.2

- Definition

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

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-22

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

CONDENSED CONSOLIDATED STATEMENTS OF EQUITY - USD ($) shares in Thousands, $ in Millions	Total	Total Shareholders’ Equity	Common Stock Shares	Common Stock and Additional Paid-In Capital	Treasury Stock	Accumulated Other Comprehensive Loss	Retained Earnings	Noncontrolling Interest
Beginning balance (in shares) at Dec. 31, 2022			90,100
Beginning balance at Dec. 31, 2022	$ 3,039.6	$ 3,039.3		$ 818.1	$ (1,184.3)	$ (126.2)	$ 3,531.7	$ 0.3
Beginning balance (in shares) at Dec. 31, 2022					14,500
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	139.8	139.8					139.8
Cumulative translation adjustment	36.6	36.6				36.6
Net change in retirement obligations (net of tax)	0.4	0.4				0.4
Net issuance of shares of common stock (net of tax) (in shares)					(100)
Net issuance of shares of common stock (net of tax)	0.3	0.3			$ 0.3
Share-based compensation	12.8	12.8		12.8
Ending balance (in shares) at Mar. 31, 2023			90,100
Ending balance at Mar. 31, 2023	3,229.5	3,229.2		830.9	$ (1,184.0)	(89.2)	3,671.5	0.3
Ending balance (in shares) at Mar. 31, 2023					14,400
Beginning balance (in shares) at Dec. 31, 2023			90,100
Beginning balance at Dec. 31, 2023	$ 3,541.2	3,541.4		839.9	$ (1,187.0)	(45.8)	3,934.3	(0.2)
Beginning balance (in shares) at Dec. 31, 2023	14,300				14,300
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	$ 121.3	121.4					121.4	(0.1)
Cumulative translation adjustment	(64.3)	(64.3)				(64.3)
Net change in retirement obligations (net of tax)	(0.1)	(0.1)				(0.1)
Net issuance of shares of common stock (net of tax) (in shares)					(100)
Net issuance of shares of common stock (net of tax)	7.7	7.7			$ 7.7
Share-based compensation	12.5	12.5		12.5
Ending balance (in shares) at Mar. 31, 2024			90,100
Ending balance at Mar. 31, 2024	$ 3,618.3	$ 3,618.6		$ 852.4	$ (1,179.3)	$ (110.2)	$ 4,055.7	$ (0.3)
Ending balance (in shares) at Mar. 31, 2024	14,200				14,200

Basis of Presentation and Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2024
Accounting Policies [Abstract]
Basis of Presentation	The Condensed Consolidated Financial Statements of IDEX Corporation (“IDEX” or the “Company”) have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) applicable to interim financial information and the instructions to Form 10-Q under the Securities Exchange Act of 1934, as amended. The statements are unaudited but include all adjustments, consisting only of recurring items, except as noted, that the Company considers necessary for a fair presentation of the information set forth herein. The results of operations for the three months ended March 31, 2024 are not necessarily indicative of the results to be expected for the entire year.
Recently Issued Accounting Standards	Recently Issued Accounting Standards In November 2023, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures, which improves the disclosures required for reportable segments in the Company’s annual and interim financial statements, primarily through enhanced disclosures about significant segment expenses. ASU 2023-07 is effective for annual periods beginning after December 15, 2023 and interim periods within fiscal years beginning after December 15, 2024. Adoption of this ASU should be applied retrospectively to all prior periods presented in the financial statements. Early adoption is permitted. The Company is currently evaluating the impact of the adoption of this standard on the Consolidated Financial Statements and disclosures. In December 2023, the FASB issued ASU 2023-09, Improvements to Income Tax Disclosures, which requires public entities, on an annual basis, to disclose standard categories in tax rate reconciliations, additional information for reconciling items that meet a quantitative threshold and income taxes paid disaggregated by jurisdiction. ASU 2023-09 is effective for annual periods beginning after December 15, 2024. Early adoption is permitted. The Company is currently evaluating the impact of the adoption of this standard on the Consolidated Financial Statements and disclosures.

Acquisitions (Tables)

3 Months Ended

Mar. 31, 2024

Business Combination and Asset Acquisition [Abstract]

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed

As of March 31, 2024, the preliminary allocation of the purchase price to the assets acquired and liabilities assumed, based on their estimated fair values at the acquisition date, is as follows:


	Total
Current assets, net of cash acquired	$	10.6
Property, plant and equipment	19.9
Goodwill	52.7
Intangible assets	45.6
Other noncurrent assets	5.4
Total assets acquired	134.2
Current liabilities	(1.2)
Deferred income taxes	(18.3)
Other noncurrent liabilities	(4.9)
Net assets acquired	$	109.8

As of March 31, 2024, the preliminary allocation of the purchase price to the assets acquired and liabilities assumed, based on their estimated fair values at the acquisition date, is as follows:


	Total
Current assets, net of cash acquired	$	16.9
Property, plant and equipment	12.5
Goodwill	104.5
Intangible assets	92.3
Other noncurrent assets	2.9
Total assets acquired	229.1
Current liabilities	(5.5)
Deferred income taxes	(20.5)
Other noncurrent liabilities	(2.7)
Net assets acquired(1)	$	200.4

(1) The Company finalized the purchase price of STC, resulting in a $1.6 million downward adjustment to the purchase price. Funds were received by the Company in April 2024.

Schedule of Finite-Lived Intangible Assets Acquired

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


	Total		Weighted Average Life
Trade names	$	5.2	15
Customer relationships	29.3		12
Unpatented technology	11.1		11
Acquired intangible assets	$	45.6

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


	Total		Weighted Average Life
Trade names	$	9.3	15
Customer relationships	63.0		15
Unpatented technology	20.0		11
Acquired intangible assets	$	92.3

Share-Based Compensation (Tables)

3 Months Ended

Mar. 31, 2024

Share-Based Payment Arrangement [Abstract]

Schedule of Weighted Average Option Fair Values and Assumptions

The assumptions used in determining the fair value of the stock options granted in the respective periods were as follows:


	Three Months Ended March 31,
		2024	2023
Weighted average fair value of grants		$63.74	$60.80
Dividend yield		1.09%	1.06%
Volatility		26.67%	27.19%
Risk-free interest rate		4.31%	4.12%
Expected life (in years)		4.60	4.50

Schedule of Stock Option Activity

A summary of the Company’s stock option activity as of March 31, 2024 and changes during the three months ended March 31, 2024 are presented in the following table:


	Shares	Weighted Average Price		Weighted-Average Remaining Contractual Term	Aggregate Intrinsic Value
Stock Options
Outstanding at January 1, 2024	983,267	$	178.86	6.88	$	39.3
Granted	192,065	234.91
Exercised	(64,168)	154.88
Forfeited	(14,482)	185.34
Outstanding at March 31, 2024	1,096,682	$	190.00	7.28	$	59.2
Vested and expected to vest as of March 31, 2024	1,053,090	$	188.59	7.20	$	58.4
Exercisable at March 31, 2024	605,708	$	166.99	5.91	$	46.7

Schedule of Restricted Stock Activity

A summary of the Company’s restricted stock activity as of March 31, 2024 and changes during the three months ended March 31, 2024 are presented in the following table:


Restricted Stock	Shares	Weighted-Average Grant Date Fair Value
Unvested at January 1, 2024	112,891	$	193.03
Granted	28,545	228.93
Vested	(15,035)	198.33
Forfeited	(3,395)	206.55
Unvested at March 31, 2024	123,006	$	200.34

Schedule of Unvested Cash-settled Restricted Stock Activity

A summary of the Company’s unvested cash-settled restricted stock activity as of March 31, 2024 and changes during the three months ended March 31, 2024 are presented in the following table:


Cash-Settled Restricted Stock	Shares	Weighted-Average Fair Value
Unvested at January 1, 2024	56,655	$	217.11
Granted	19,760	235.01
Vested	(14,980)	235.97
Forfeited	(1,700)	244.02
Unvested at March 31, 2024	59,735	$	244.02

Schedule of Weighted Average Performance Share Units Fair Values and Assumptions


	Three Months Ended March 31,
	2024	2023
Weighted average fair value of grants	$349.59	$308.18
Dividend yield	—%	—%
Volatility	22.23%	27.00%
Risk-free interest rate	4.45%	4.37%
Expected life (in years)	2.94	2.94

Schedule of Performance Shares Units Activity

A summary of the Company’s performance share unit activity as of March 31, 2024 and changes during the three months ended March 31, 2024 are presented in the following table:


Performance Share Units	Shares	Weighted-Average Grant Date Fair Value
Unvested at January 1, 2024	67,455	$	265.15
Granted	27,135	349.59
Vested	(9,606)	245.40
Forfeited	(10,629)	246.70
Unvested at March 31, 2024	74,355	$	300.72

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


	Three Months Ended March 31,
	2024		2023
Stock options expense	$	5.4	$	6.0
Restricted stock expense	2.0		1.6
Cash-settled restricted stock expense	1.9		1.1
Performance share units expense	5.1		5.2
Total pre-tax share-based compensation expense	14.4		13.9
Income tax benefit	(0.9)		(0.8)
Total share-based compensation expense, net of income taxes	$	13.5	$	13.1

Acquisitions - Narrative (Details) - USD ($) $ in Millions			3 Months Ended
Acquisitions - Narrative (Details) - USD ($) $ in Millions	Dec. 14, 2023	May 19, 2023	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023
Business Acquisition [Line Items]
Measurement period			1 year
Goodwill			$ 2,803.0		$ 2,838.3
Iridian
Business Acquisition [Line Items]
Aggregate purchase price, cash paid		$ 109.8
Iridian \| Selling, general and administrative expenses
Business Acquisition [Line Items]
Acquisition-related transaction costs			1.3
Nexsight
Business Acquisition [Line Items]
Goodwill		52.7
Intangible assets		$ 45.6
KZValve
Business Acquisition [Line Items]
Aggregate purchase price, cash paid	$ 200.4
Muon Group \| Selling, general and administrative expenses
Business Acquisition [Line Items]
Acquisition-related transaction costs				$ 1.1
STC,LLC
Business Acquisition [Line Items]
Goodwill	104.5
Intangible assets	$ 92.3
Inventory adjustment			$ 2.5

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Millions	Mar. 31, 2024	Dec. 31, 2023
Statement of Financial Position [Abstract]
Accumulated depreciation	$ 556.1	$ 545.7
Preferred stock, authorized (in shares)	5,000,000	5,000,000
Preferred stock , par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, issued (in shares)	0	0
Common stock, authorized (in shares)	150,000,000	150,000,000
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, issued (in shares)	90,100,000	90,100,000
Treasury stock (in shares)	14,200,000	14,300,000

Balance Sheet Components (Tables)

3 Months Ended

Mar. 31, 2024

Additional Financial Information Disclosure [Abstract]

Balance Sheet Components


	March 31, 2024		December 31, 2023
RECEIVABLES - NET
Customers	$	429.1	$	419.0
Other	16.0		16.3
Total	445.1		435.3
Less: allowance for credit losses	7.2		7.5
Receivables - net	$	437.9	$	427.8
INVENTORIES - NET
Raw materials and component parts	$	283.4	$	268.1
Work in process	37.7		44.5
Finished goods	104.9		108.2
Inventories - net	$	426.0	$	420.8
ACCRUED EXPENSES
Payroll and related items	$	81.1	$	97.1
Management incentive compensation	6.8		16.4
Income taxes payable	32.7		18.5


Deferred revenue	62.4		55.9
Lease liability	21.7		22.0



Other	69.4		61.6
Accrued expenses	$	274.1	$	271.5

Fair Value Measurements

3 Months Ended

Mar. 31, 2024

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.


	Basis of Fair Value Measurements
	March 31, 2024		December 31, 2023
	Level 1		Level 1
Trading securities - mutual funds held in nonqualified SERP(1)	$	10.3	$	10.5
Available-for-sale securities - equities(2)	4.4		4.4

(2) The securities are included in Other current assets on the Condensed Consolidated Balance Sheets and are available for overnight cash settlement, if necessary, to fund current operations.

There were no transfers of assets or liabilities between Level 1 and Level 2 during the three months ended March 31, 2024 or the year ended December 31, 2023.

The carrying values of the Company’s cash and cash equivalents, accounts receivable, accounts payable and accrued expenses approximate fair value because of the short-term nature of these instruments.


	March 31, 2024				December 31, 2023
	Fair Value		Carrying Amount		Fair Value		Carrying Amount
Total Borrowings, less unaccreted debt discount	$	1,239.7	$	1,329.9	$	1,203.5	$	1,332.2

- 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

Share Based Compensation - Narrative (Details) - USD ($) $ in Millions		1 Months Ended		3 Months Ended
	Jan. 31, 2024	Feb. 29, 2024	Jan. 31, 2024	Mar. 31, 2024	Dec. 31, 2023
Stock options expense
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock option exercisable life				10 years
Total unrecognized compensation cost				$ 14.5
Weighted-average period of total unrecognized compensation cost, in years				1 year 7 months 6 days
Stock options expense \| Employees
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period				4 years
Restricted stock expense
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total unrecognized compensation cost				$ 11.3
Weighted-average period of total unrecognized compensation cost, in years				1 year 1 month 6 days
Granted (in shares)				28,545
Restricted stock expense \| Employees and Non-employee Directors
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period				3 years
Cash-settled restricted stock expense
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period				3 years
Total unrecognized compensation cost				$ 7.0
Weighted-average period of total unrecognized compensation cost, in years				1 year 2 months 12 days
Granted (in shares)				19,760
Cash-settled restricted stock expense \| Accrued Expenses
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share based compensation, accrued expenses				$ 3.8	$ 4.2
Cash-settled restricted stock expense \| Other Noncurrent Liabilities
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share based compensation, accrued expenses				1.7	$ 2.9
Performance share units expense
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period	3 years
Total unrecognized compensation cost				$ 5.7
Weighted-average period of total unrecognized compensation cost, in years				1 year 2 months 12 days
Granted (in shares)	19,200			27,135
Payout percent			50.00%
Net issuance of shares of common stock (net of tax) (in shares)		9,606

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

Business Segments - Schedule of Information on Company's Business Segments (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023
Segment Reporting Information [Line Items]
Net sales	$ 800.5	$ 845.4
ADJUSTED EBITDA	208.3	229.8
Interest expense - net	(9.4)	(13.1)
Depreciation	(16.2)	(12.8)
Amortization of intangible assets	(24.6)	(23.6)
Fair value inventory step-up charges	(2.5)	0.0
Restructuring expenses and asset impairments	(1.1)	(0.5)
Income before income taxes	154.5	179.8
Total assets	5,889.4		$ 5,865.2
Intersegment eliminations
Segment Reporting Information [Line Items]
Net sales	(1.3)	(1.8)
Operating segments
Segment Reporting Information [Line Items]
ADJUSTED EBITDA	238.2	256.6
Corporate and other
Segment Reporting Information [Line Items]
ADJUSTED EBITDA	(29.9)	(26.8)
Total assets	188.9		135.5
Fluid & Metering Technologies
Segment Reporting Information [Line Items]
Net sales	313.5	321.1
Income before income taxes	154.5	179.8
Fluid & Metering Technologies \| Intersegment eliminations
Segment Reporting Information [Line Items]
Net sales	0.2	0.7
Fluid & Metering Technologies \| Operating segments
Segment Reporting Information [Line Items]
Net sales	313.7	321.8
ADJUSTED EBITDA	105.4	106.2
Total assets	1,702.6		1,674.7
Health & Science Technologies
Segment Reporting Information [Line Items]
Net sales	309.4	350.3
Health & Science Technologies \| Intersegment eliminations
Segment Reporting Information [Line Items]
Net sales	0.7	0.7
Health & Science Technologies \| Operating segments
Segment Reporting Information [Line Items]
Net sales	310.1	351.0
ADJUSTED EBITDA	81.4	100.7
Total assets	3,193.6		3,262.4
Fire & Safety/Diversified Products
Segment Reporting Information [Line Items]
Net sales	177.6	174.0
Fire & Safety/Diversified Products \| Intersegment eliminations
Segment Reporting Information [Line Items]
Net sales	0.4	0.4
Fire & Safety/Diversified Products \| Operating segments
Segment Reporting Information [Line Items]
Net sales	178.0	174.4
ADJUSTED EBITDA	51.4	$ 49.7
Total assets	$ 804.3		$ 792.6

Acquisitions

3 Months Ended

Mar. 31, 2024

Business Combination and Asset Acquisition [Abstract]

Acquisitions

All of the Company’s acquisitions of businesses have been accounted for under Accounting Standards Codification (“ASC”) 805, Business Combinations. Accordingly, the assets and liabilities of the acquired companies, after adjustments to reflect the fair values assigned to the assets and liabilities, have been included in the Condensed Consolidated Balance Sheets from their respective dates of acquisition. The results of operations of businesses acquired have been included in the Condensed Consolidated Statements of Income since their respective dates of acquisition. Supplemental pro forma information has not been provided as the acquisitions did not have a material impact on the Condensed Consolidated Financial Statements individually or in the aggregate.

The Company makes a preliminary allocation of the purchase price for each acquisition as of the acquisition date based on its understanding of the fair value of the acquired assets and assumed liabilities. These nonrecurring fair value measurements are classified as Level 3 in the fair value hierarchy. As the Company continues to obtain additional information, primarily related to the valuations of these assets and liabilities, and continues to integrate the newly acquired business, the Company will refine the estimates of fair value and more accurately allocate the purchase price through the completion of the measurement period, which is not to exceed one year from the date of acquisition. Only items identified as of the acquisition date are considered for subsequent adjustment.

2023 Acquisitions

Iridian

On May 19, 2023, the Company acquired Iridian Spectral Technologies (“Iridian”) in a stock acquisition. Iridian is a global leader in designing and manufacturing thin-film, multi-layer optical filters serving the laser communications, telecommunications and life sciences markets and expands the Company’s array of optical technology offerings. Headquartered in Ottawa, Canada, Iridian operates in the Company’s Scientific Fluidics & Optics reporting unit within the Health & Science Technologies segment. Iridian was acquired for cash consideration of $109.8 million. The entire purchase price was funded with cash on hand. Goodwill and intangible assets recognized as part of this transaction were $52.7 million and $45.6 million, respectively. The goodwill is not deductible for tax purposes.

As of March 31, 2024, the preliminary allocation of the purchase price to the assets acquired and liabilities assumed, based on their estimated fair values at the acquisition date, is as follows:


	Total
Current assets, net of cash acquired	$	10.6
Property, plant and equipment	19.9
Goodwill	52.7
Intangible assets	45.6
Other noncurrent assets	5.4
Total assets acquired	134.2
Current liabilities	(1.2)
Deferred income taxes	(18.3)
Other noncurrent liabilities	(4.9)
Net assets acquired	$	109.8

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

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


	Total		Weighted Average Life
Trade names	$	5.2	15
Customer relationships	29.3		12
Unpatented technology	11.1		11
Acquired intangible assets	$	45.6

STC

On December 14, 2023, the Company acquired STC Material Solutions (“STC”) in a stock acquisition. STC specializes in the design and manufacturing of technical ceramics and hermetic sealing products for critical applications in the semiconductor, aerospace and defense, industrial technology, medical technology and energy markets. Headquartered in St. Albans, Vermont, with additional operations in Santa Ana, California, STC operates in the Company’s Scientific Fluidics & Optics reporting unit within the Health & Science Technologies segment. STC was acquired for cash consideration of $200.4 million. The entire purchase price was funded with cash on hand. Goodwill and intangible assets recognized as part of this transaction were $104.5 million and $92.3 million, respectively. The goodwill is not deductible for tax purposes.

As of March 31, 2024, the preliminary allocation of the purchase price to the assets acquired and liabilities assumed, based on their estimated fair values at the acquisition date, is as follows:


	Total
Current assets, net of cash acquired	$	16.9
Property, plant and equipment	12.5
Goodwill	104.5
Intangible assets	92.3
Other noncurrent assets	2.9
Total assets acquired	229.1
Current liabilities	(5.5)
Deferred income taxes	(20.5)
Other noncurrent liabilities	(2.7)
Net assets acquired(1)	$	200.4

(1) The Company finalized the purchase price of STC, resulting in a $1.6 million downward adjustment to the purchase price. Funds were received by the Company in April 2024.

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


	Total		Weighted Average Life
Trade names	$	9.3	15
Customer relationships	63.0		15
Unpatented technology	20.0		11
Acquired intangible assets	$	92.3

Acquisition-Related Costs

The Company incurred $1.3 million and $1.1 million of acquisition-related costs during the three months ended March 31, 2024 and 2023, respectively. 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 recorded a $2.5 million fair value inventory step-up charge associated with the completed 2023 acquisition of STC in Cost of sales during the three months ended March 31, 2024.

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Mar. 31, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Cover Page - shares	3 Months Ended
Cover Page - shares	Mar. 31, 2024	Apr. 19, 2024
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2024
Document Transition Report	false
Entity File Number	1-10235
Entity Registrant Name	IDEX CORP
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	36-3555336
Entity Address, Address Line One	3100 Sanders Road,
Entity Address, Address Line Two	Suite 301,
Entity Address, City or Town	Northbrook,
Entity Address, State or Province	IL
Entity Address, Postal Zip Code	60062
City Area Code	847
Local Phone Number	498-7070
Title of 12(b) Security	Common Stock, par value $.01 per share
Trading Symbol	IEX
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		75,695,352
Amendment Flag	false
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q1
Entity Central Index Key	0000832101
Current Fiscal Year End Date	--12-31

Earnings Per Common Share - Schedule of Basic Weighted Average Shares Reconciles to Diluted Weighted Average Shares Outstanding (Details) - shares shares in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Earnings Per Share [Abstract]
Basic weighted average common shares outstanding (in shares)	75.7	75.6
Dilutive effect of restricted stock, performance share units and stock options (in shares)	0.2	0.3
Diluted weighted average common shares outstanding (in shares)	75.9	75.9

Earnings Per Common Share - Narrative (Details) - shares shares in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Earnings Per Share [Abstract]
Antidilutive shares not included in Diluted EPS attributable to IDEX (in shares)	0.5	0.2

Goodwill and Intangible Assets - Schedule of Gross Carrying Value and Accumulated Amortization for Each Major Class of Intangible Asset (Details) - USD ($) $ in Millions	Mar. 31, 2024	Dec. 31, 2023
Goodwill And Intangible Assets [Line Items]
Amortized intangible assets - gross carrying amount	$ 1,247.7	$ 1,274.1
Amortized intangible assets - accumulated amortization	(369.5)	(353.2)
Amortized intangible assets - net	878.2	920.9
Intangible assets - gross carrying amount	1,338.6	1,365.0
Intangible assets - net	$ 969.1	1,011.8
Weighted Average
Goodwill And Intangible Assets [Line Items]
Amortized intangible assets - weighted average life	13 years
Banjo trade name
Goodwill And Intangible Assets [Line Items]
Indefinite lived intangible assets - net	$ 62.1	62.1
Akron Brass trade name
Goodwill And Intangible Assets [Line Items]
Indefinite lived intangible assets - net	28.8	28.8
Patents
Goodwill And Intangible Assets [Line Items]
Amortized intangible assets - gross carrying amount	2.8	2.7
Amortized intangible assets - accumulated amortization	(2.1)	(2.0)
Amortized intangible assets - net	$ 0.7	0.7
Amortized intangible assets - weighted average life	12 years
Trade names
Goodwill And Intangible Assets [Line Items]
Amortized intangible assets - gross carrying amount	$ 169.3	171.9
Amortized intangible assets - accumulated amortization	(56.5)	(54.3)
Amortized intangible assets - net	$ 112.8	117.6
Amortized intangible assets - weighted average life	15 years
Customer relationships
Goodwill And Intangible Assets [Line Items]
Amortized intangible assets - gross carrying amount	$ 841.9	860.7
Amortized intangible assets - accumulated amortization	(239.1)	(228.7)
Amortized intangible assets - net	$ 602.8	632.0
Amortized intangible assets - weighted average life	13 years
Unpatented technology
Goodwill And Intangible Assets [Line Items]
Amortized intangible assets - gross carrying amount	$ 228.8	233.5
Amortized intangible assets - accumulated amortization	(69.8)	(66.3)
Amortized intangible assets - net	$ 159.0	167.2
Amortized intangible assets - weighted average life	12 years
Software
Goodwill And Intangible Assets [Line Items]
Amortized intangible assets - gross carrying amount	$ 4.9	5.3
Amortized intangible assets - accumulated amortization	(2.0)	(1.9)
Amortized intangible assets - net	$ 2.9	$ 3.4
Amortized intangible assets - weighted average life	5 years

Revenue - Deferred Revenue (Details) - USD ($) $ in Millions	Mar. 31, 2024	Dec. 31, 2023
Revenue from Contract with Customer [Abstract]
Deferred revenue - current	$ 62.4	$ 55.9
Deferred revenue - noncurrent	17.9	17.3
Total deferred revenue	$ 80.3	$ 73.2

Retirement Benefits - Narrative (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Defined Benefit Plan Disclosure [Line Items]
Contributions by employer	$ 1.2	$ 1.3
Pension Benefits
Defined Benefit Plan Disclosure [Line Items]
Expected contribution for next fiscal year	3.6
Other Postretirement Benefits
Defined Benefit Plan Disclosure [Line Items]
Expected contribution for next fiscal year	$ 1.1

Revenue - Revenue by Geography (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Disaggregation of Revenue [Line Items]
Net sales	$ 800.5	$ 845.4
Intersegment eliminations
Disaggregation of Revenue [Line Items]
Net sales	(1.3)	(1.8)
U.S. \| Operating segments
Disaggregation of Revenue [Line Items]
Net sales	397.6	415.8
North America, excluding U.S. \| Operating segments
Disaggregation of Revenue [Line Items]
Net sales	29.3	33.1
Europe \| Operating segments
Disaggregation of Revenue [Line Items]
Net sales	207.9	224.8
Asia \| Operating segments
Disaggregation of Revenue [Line Items]
Net sales	131.1	135.1
Other \| Operating segments
Disaggregation of Revenue [Line Items]
Net sales	35.9	38.4
FMT
Disaggregation of Revenue [Line Items]
Net sales	313.5	321.1
FMT \| Operating segments
Disaggregation of Revenue [Line Items]
Net sales	313.5	321.1
FMT \| Intersegment eliminations
Disaggregation of Revenue [Line Items]
Net sales	(0.2)	(0.7)
FMT \| U.S. \| Operating segments
Disaggregation of Revenue [Line Items]
Net sales	172.6	176.8
FMT \| North America, excluding U.S. \| Operating segments
Disaggregation of Revenue [Line Items]
Net sales	16.3	19.4
FMT \| Europe \| Operating segments
Disaggregation of Revenue [Line Items]
Net sales	58.8	59.2
FMT \| Asia \| Operating segments
Disaggregation of Revenue [Line Items]
Net sales	44.7	45.1
FMT \| Other \| Operating segments
Disaggregation of Revenue [Line Items]
Net sales	21.3	21.3
HST
Disaggregation of Revenue [Line Items]
Net sales	309.4	350.3
HST \| Operating segments
Disaggregation of Revenue [Line Items]
Net sales	309.4	350.3
HST \| Intersegment eliminations
Disaggregation of Revenue [Line Items]
Net sales	(0.7)	(0.7)
HST \| U.S. \| Operating segments
Disaggregation of Revenue [Line Items]
Net sales	138.9	149.6
HST \| North America, excluding U.S. \| Operating segments
Disaggregation of Revenue [Line Items]
Net sales	5.6	5.2
HST \| Europe \| Operating segments
Disaggregation of Revenue [Line Items]
Net sales	104.1	120.9
HST \| Asia \| Operating segments
Disaggregation of Revenue [Line Items]
Net sales	55.7	66.6
HST \| Other \| Operating segments
Disaggregation of Revenue [Line Items]
Net sales	5.8	8.7
FSDP
Disaggregation of Revenue [Line Items]
Net sales	177.6	174.0
FSDP \| Operating segments
Disaggregation of Revenue [Line Items]
Net sales	177.6	174.0
FSDP \| Intersegment eliminations
Disaggregation of Revenue [Line Items]
Net sales	(0.4)	(0.4)
FSDP \| U.S. \| Operating segments
Disaggregation of Revenue [Line Items]
Net sales	86.1	89.4
FSDP \| North America, excluding U.S. \| Operating segments
Disaggregation of Revenue [Line Items]
Net sales	7.4	8.5
FSDP \| Europe \| Operating segments
Disaggregation of Revenue [Line Items]
Net sales	45.0	44.7
FSDP \| Asia \| Operating segments
Disaggregation of Revenue [Line Items]
Net sales	30.7	23.4
FSDP \| Other \| Operating segments
Disaggregation of Revenue [Line Items]
Net sales	$ 8.8	$ 8.4

Accumulated Other Comprehensive Loss (Tables)

3 Months Ended

Mar. 31, 2024

Equity [Abstract]

Schedule of Accumulated Other Comprehensive Loss

The components of Accumulated other comprehensive loss are as follows:


	Cumulative Translation Adjustment		Pension and Other Postretirement Adjustments		Accumulated Other Comprehensive Loss
Balance, December 31, 2023(1)	$	(49.3)	$	3.5	$	(45.8)
Other comprehensive loss before reclassification adjustments	(64.3)		—		(64.3)
Gain reclassified from Accumulated other comprehensive loss(2)(3)	—		(0.1)		(0.1)
Tax benefit	—		—		—
Net other comprehensive loss(1)	(64.3)		(0.1)		(64.4)
Balance, March 31, 2024(1)	(113.6)		3.4		(110.2)


	Cumulative Translation Adjustment		Pension and Other Postretirement Adjustments		Accumulated Other Comprehensive Loss
Balance, December 31, 2022(1)	$	(137.1)	$	10.9	$	(126.2)
Other comprehensive income before reclassification adjustments	36.6		—		36.6
Loss reclassified from Accumulated other comprehensive loss(2)(3)	—		0.6		0.6
Tax benefit	—		(0.2)		(0.2)
Net other comprehensive income(1)	36.6		0.4		37.0
Balance, March 31, 2023(1)	(100.5)		11.3		(89.2)

(1) Amounts are presented net of tax.

(2) Included in the computation of net periodic cost. See Note 13, “Retirement Benefits.”

(3) Included in Other (income) expense - net in the Condensed Consolidated Statements of Income.

Balance Sheet Components (Details) - USD ($) $ in Millions	Mar. 31, 2024	Dec. 31, 2023
RECEIVABLES - NET
Customers	$ 429.1	$ 419.0
Other	16.0	16.3
Total	445.1	435.3
Less: allowance for credit losses	7.2	7.5
Receivables - net	437.9	427.8
INVENTORIES - NET
Raw materials and component parts	283.4	268.1
Work in process	37.7	44.5
Finished goods	104.9	108.2
Inventories - net	426.0	420.8
ACCRUED EXPENSES
Payroll and related items	81.1	97.1
Management incentive compensation	6.8	16.4
Income taxes payable	32.7	18.5
Deferred revenue	62.4	55.9
Lease liability	21.7	22.0
Other	69.4	61.6
Accrued expenses	$ 274.1	$ 271.5

CONDENSED CONSOLIDATED STATEMENTS OF INCOME - USD ($) shares in Millions, $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Income Statement [Abstract]
Net sales	$ 800.5	$ 845.4
Cost of sales	443.1	462.9
Gross profit	357.4	382.5
Selling, general and administrative expenses	195.1	189.7
Restructuring expenses and asset impairments	1.1	0.5
Operating income	161.2	192.3
Other (income) expense - net	(2.7)	(0.6)
Interest expense - net	9.4	13.1
Income before income taxes	154.5	179.8
Provision for income taxes	33.2	40.0
Net income	121.3	139.8
Net loss attributable to noncontrolling interest	0.1	0.0
Net income attributable to IDEX	$ 121.4	$ 139.8
Earnings per common share:
Basic earnings per common share attributable to IDEX (in dollars per share)	$ 1.60	$ 1.85
Diluted earnings per common share attributable to IDEX (in dollars per share)	$ 1.60	$ 1.84
Share data:
Basic weighted average common shares outstanding (in shares)	75.7	75.6
Diluted weighted average common shares outstanding (in shares)	75.9	75.9