$IEX

IDEX CORP /DE/

CIK:0000832101|SEC Filings

CONDENSED CONSOLIDATED STATEMENTS OF INCOME - USD ($) shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Income Statement [Abstract]
Net sales	$ 920.6	$ 865.4	$ 1,807.5	$ 1,679.7
Cost of sales	493.8	473.2	982.6	918.6
Gross profit	426.8	392.2	824.9	761.1
Selling, general and administrative expenses	224.1	203.6	442.4	413.0
Restructuring expenses and asset impairments	2.8	0.7	10.2	18.2
Operating income	199.9	187.9	372.3	329.9
Other (income) expense – net	(1.3)	2.4	(1.9)	3.8
Interest expense – net	15.1	15.6	31.1	31.7
Income before income taxes	186.1	169.9	343.1	294.4
Provision for income taxes	42.7	38.8	79.8	67.9
Net income	143.4	131.1	263.3	226.5
Net loss attributable to noncontrolling interest	0.0	0.5	0.1	0.6
Net income attributable to IDEX	$ 143.4	$ 131.6	$ 263.4	$ 227.1
Earnings per common share:
Basic earnings per common share attributable to IDEX (in dollars per share)	$ 1.94	$ 1.74	$ 3.55	$ 3.00
Diluted earnings per common share attributable to IDEX (in dollars per share)	$ 1.93	$ 1.74	$ 3.54	$ 3.00
Share data:
Basic weighted average common shares outstanding (in shares)	74.0	75.5	74.2	75.6
Diluted weighted average common shares outstanding (in shares)	74.2	75.5	74.3	75.7

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Cash flows from operating activities
Net income	$ 263.3	$ 226.5
Adjustments to reconcile net income to net cash flows provided by operating activities:
Asset impairments	4.8	0.6
Depreciation	40.1	37.4
Amortization of intangible assets	67.0	63.5
Share-based compensation expense	21.9	18.8
Deferred income taxes	(1.3)	1.6
Changes in (net of the effect from acquisitions/divestitures and foreign currency translation):
Receivables – net	(30.7)	1.6
Inventories – net	(45.7)	(45.6)
Other current assets	(21.4)	(21.8)
Trade accounts payable	9.2	(0.7)
Deferred revenue	2.7	6.4
Accrued expenses	(8.0)	(22.4)
Other – net	1.8	1.5
Net cash flows provided by operating activities	303.7	267.4
Cash flows from investing activities
Capital expenditures	(40.7)	(29.1)
Acquisition of business, net of cash acquired	0.0	4.2
Other – net	(2.0)	0.4
Net cash flows used in investing activities	(42.7)	(24.5)
Cash flows from financing activities
Borrowings under revolving credit facilities	205.0	50.0
Payments under revolving credit facilities	(163.3)	(92.7)
Payment of long-term borrowings	0.0	(100.0)
Cash dividends paid to shareholders	(106.7)	(105.9)
Proceeds (payments) from share issuances, net of shares withheld for taxes	10.6	(0.2)
Repurchases of common stock	(153.4)	(100.0)
Other – net	(0.3)	(0.4)
Net cash flows used in financing activities	(208.1)	(349.2)
Effect of exchange rate changes on cash and cash equivalents	(10.7)	37.4
Net increase (decrease) in cash and cash equivalents and restricted cash	42.2	(68.9)
Cash and cash equivalents and restricted cash at beginning of year	585.9	638.9
Cash and cash equivalents and restricted cash at end of period	628.1	570.0
Cash paid for:
Interest	34.4	36.7
Income taxes – net	$ 81.4	$ 83.4

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Jun. 30, 2026	Dec. 31, 2025
Current assets
Cash and cash equivalents	$ 621.3	$ 580.0
Receivables – net	547.8	521.7
Inventories – net	520.3	479.4
Other current assets	83.9	62.1
Total current assets	1,773.3	1,643.2
Property, plant and equipment – net of accumulated depreciation of $686.4 and $654.3 at June 30, 2026 and December 31, 2025, respectively	463.6	468.0
Goodwill	3,382.6	3,414.5
Intangible assets – net	1,164.5	1,247.4
Other noncurrent assets	146.0	153.9
Total assets	6,930.0	6,927.0
Current liabilities
Trade accounts payable	233.7	224.7
Accrued expenses	293.5	297.0
Current portion of long-term borrowings	0.4	0.7
Dividends payable	54.0	53.0
Total current liabilities	581.6	575.4
Long-term borrowings – net	1,858.5	1,820.1
Deferred income taxes	297.8	303.0
Other noncurrent liabilities	185.5	202.3
Total liabilities	2,923.4	2,900.8
Commitments and contingencies (Note 14)
Preferred stock:
Authorized: 5.0 million shares, $0.01 per share par value; Issued: None	0.0	0.0
Common stock:
Authorized: 150.0 million shares, $.01 per share par value Issued: 90.1 million shares at both June 30, 2026 and December 31, 2025	0.9	0.9
Treasury stock at cost: 16.1 million shares at June 30, 2026 and 15.5 million shares at December 31, 2025	(1,525.1)	(1,423.2)
Additional paid-in capital	875.2	892.1
Retained earnings	4,655.4	4,500.1
Accumulated other comprehensive income	1.6	57.6
Total shareholders’ equity	4,008.0	4,027.5
Noncontrolling interest	(1.4)	(1.3)
Total equity	4,006.6	4,026.2
Total liabilities and equity	$ 6,930.0	$ 6,927.0