v3.26.1
Business Segments
 6 Months Ended
Jun. 30, 2026
Segment Reporting [Abstract]  
Business Segments Business Segments
IDEX has three reportable business segments: Health & Science Technologies (“HST”), Fluid & Metering Technologies (“FMT”), and Fire & Safety/Diversified Products (“FSDP”).

The Company uses adjusted earnings before interest, income taxes, depreciation and amortization (“Adjusted EBITDA”) as its measure of segment performance. Intersegment sales are contracted with terms equivalent to those of an arm’s-length transaction. Information on the Company’s business segments is presented below.
Three Months Ended June 30, 2026
HSTFMTFSDPTotal SegmentsEliminationsIDEX
NET SALES
External customers$414.0 $316.7 $189.9 $920.6 $— $920.6 
Intersegment sales1.0 0.4 — 1.4 (1.4)— 
Net sales415.0 317.1 189.9 922.0 (1.4)920.6 
Adjusted segment cost of sales(1)
(235.7)(156.5)(102.5)(494.7)1.4 (493.3)
Other segment expenses(2)
(60.0)(50.3)(32.5)(142.8)
Segment Adjusted EBITDA$119.3 $110.3 $54.9 $284.5 
Three Months Ended June 30, 2025
HSTFMTFSDPTotal SegmentsEliminationsIDEX
NET SALES
External customers$363.9 $310.5 $191.0 $865.4 $— $865.4 
Intersegment sales1.4 0.4 0.5 2.3 (2.3)— 
Net sales365.3 310.9 191.5 867.7 (2.3)865.4 
Adjusted segment cost of sales(1)
(217.0)(153.0)(105.5)(475.5)2.3 (473.2)
Other segment expenses(2)
(53.3)(49.2)(29.6)(132.1)
Segment Adjusted EBITDA$95.0 $108.7 $56.4 $260.1 
Six Months Ended June 30, 2026
HSTFMTFSDPTotal SegmentsEliminationsIDEX
NET SALES
External customers$811.4 $618.0 $378.1 $1,807.5 $— $1,807.5 
Intersegment sales2.0 0.6 0.1 2.7 (2.7)— 
Net sales813.4 618.6 378.2 1,810.2 (2.7)1,807.5 
Adjusted segment cost of sales(1)
(467.0)(311.8)(206.0)(984.8)2.7 (982.1)
Other segment expenses(2)
(121.1)(97.8)(61.5)(280.4)
Segment Adjusted EBITDA$225.3 $209.0 $110.7 $545.0 

Six Months Ended June 30, 2025
HSTFMTFSDPTotal SegmentsEliminationsIDEX
NET SALES
External customers$704.0 $600.7 $375.0 $1,679.7 $— $1,679.7 
Intersegment sales2.8 0.7 0.8 4.3 (4.3)— 
Net sales706.8 601.4 375.8 1,684.0 (4.3)1,679.7 
Adjusted segment cost of sales(1)
(418.2)(299.3)(205.4)(922.9)4.3 (918.6)
Other segment expenses(2)
(106.2)(98.1)(59.8)(264.1)
Segment Adjusted EBITDA$182.4 $204.0 $110.6 $497.0 
(1) Adjusted segment cost of sales represents Cost of sales excluding fair value inventory step-up charges and restructuring-related charges. Restructuring-related charges consisted of accelerated depreciation for the anticipated closure of a facility in the HST segment during the three and six months ended June 30, 2026. There were no restructuring-related charges during the three and six months ended June 30, 2025. There were no step-up charges during the three and six months ended June 30, 2026 or 2025.

(2) Other segment expenses consists primarily of selling, general and administrative expenses.

Three Months Ended June 30,Six Months Ended June 30,
2026202520262025
ADJUSTED EBITDA
Health & Science Technologies$119.3 $95.0 $225.3 $182.4 
Fluid & Metering Technologies110.3 108.7 209.0 204.0 
Fire & Safety/Diversified Products54.9 56.4 110.7 110.6 
Segment Adjusted EBITDA284.5 260.1 545.0 497.0 
Corporate and other(1)
(26.2)(22.9)(56.3)(51.8)
Interest expense – net(15.1)(15.6)(31.1)(31.7)
Depreciation(2)
(20.2)(19.0)(40.1)(37.4)
Amortization of intangible assets(33.2)(32.0)(67.0)(63.5)
Restructuring expenses and asset impairments(2.8)(0.7)(10.2)(18.2)
Legal settlements and contingencies(3)
(0.9)— 2.8 — 
Income before income taxes$186.1 $169.9 $343.1 $294.4 
(1) Corporate expenses that can be identified with a segment have been included in determining segment results. The remainder are included in Corporate and other.

(2) Depreciation includes accelerated depreciation related to the anticipated closure of a facility in the HST segment.

(3) Legal settlements and contingencies represent settlement funds received in excess of legal costs incurred related to a patent infringement lawsuit within in the FMT segment and a class action lawsuit at Corporate, net of estimated settlement costs related to certain legal matters within the HST segment.

June 30, 2026December 31, 2025
ASSETS
Health & Science Technologies$4,284.1 $4,301.1 
Fluid & Metering Technologies1,657.9 1,694.4 
Fire & Safety/Diversified Products829.0 825.2 
Total Segments6,771.0 6,820.7 
Corporate and other159.0 106.3 
Total assets$6,930.0 $6,927.0