Companies: 11,246     total market cap: NZ$263.845 T
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IDEX
IEX
#1368
Rank
NZ$29.27 B
Marketcap
๐Ÿ‡บ๐Ÿ‡ธ United States
Country
NZ$397.14
Share price
-0.33%
Change (1 day)
49.98%
Change (1 year)
IDEX Corporation, is an American company founded in 1988 that develops, designs and manufactures fluidic systems and specialty technical handling.
  1. IDEX
  2. Quarterly Reports (10-Q)
  3. Financial Year FY2026 Q2

IDEX - 10-Q quarterly report FY2026 Q2


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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
 _____________________________ 
Form 10-Q
☑QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the quarterly period endedJune 30, 2026
OR
☐TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the transition period
from _____to _____
Commission File Number: 1-10235
IDEX CORPORATION
(Exact name of registrant as specified in its charter)
Delaware36-3555336
(State or other jurisdiction of
incorporation or organization)		(I.R.S. Employer
Identification No.)
3100 Sanders Road,Suite 301,Northbrook,Illinois60062
(Address of principal executive offices) (Zip Code)
Registrant’s telephone number, including area code: (847) 498-7070
Securities registered pursuant to Section 12(b) of the Act:
Title of each classTrading Symbol(s)Name of each exchange on which registered
Common Stock, par value $0.01 per share
IEXNew York Stock Exchange
Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.
Yes  ☑    No  ☐
Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).
Yes  ☑    No   ☐
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.
Large accelerated filer☑
Accelerated filer  ☐
Non-accelerated filer ☐
Smaller reporting company☐
Emerging growth company☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).
Yes  ☐   No  ☑     
Number of shares of common stock of IDEX Corporation outstanding as of July 24, 2026: 73,719,896.
        

TABLE OF CONTENTS
 
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Cautionary Statement Under the Private Securities Litigation Reform Act

This quarterly report on Form 10-Q, including the “Overview,” “Results of Operations” and “Liquidity and Capital Resources” sections of this Management’s Discussion and Analysis of Financial Condition and Results of Operations, contains “forward-looking” statements within the meaning of the Private Securities Litigation Reform Act of 1995, as amended. These statements may relate to, among other things, the Company’s business strategy, outlook and the assumptions underlying these expectations, capital return strategy, plant and equipment capacity for future growth, other high-growth opportunities, planned production, anticipated future acquisition behavior, resource and capital deployment and focus on organic and inorganic growth, the Company’s ability to adapt to macroeconomic challenges and anticipated adaptability of resource deployment, anticipated impacts of tariffs, tariff refunds and global trade policies and changes in law, the Company’s future market positioning, anticipated trends in end markets, including expectations regarding market sector contraction, recovery, stabilization or growth and underlying drivers of such expectations, expectations regarding future order volumes and order patterns, demand within end markets, availability and sufficiency of cash and financing alternatives, the impacts of any pending or threatened legal, regulatory and other proceedings involving the Company and its subsidiaries, anticipated benefits and restructuring charges, including severance charges, related to the Company’s organizational changes, the anticipated tax treatment of the Company’s recent acquisitions, the expected contingent consideration payable related to the Company’s recent acquisitions, the anticipated benefits and performance of the Company’s recent or future acquisitions, anticipated growth initiatives and expansions and execution of those growth initiatives and the anticipated benefits of the Company’s productivity and cost containment efforts, and are indicated by words or phrases such as “anticipates,” “estimates,” “plans,” “guidance,” “expects,” “projects,” “forecasts,” “should,” “could,” “will,” “likely to be,” “management believes,” “the Company believes,” “the Company intends” and similar words or phrases. These statements are subject to inherent uncertainties and risks that could cause actual results to differ materially from those anticipated at the date of this report.

The risks and uncertainties include, but are not limited to, the following: levels of industrial activity and economic conditions in the U.S. and other countries around the world, including uncertainties in the financial markets; pricing pressures, including inflation and rising interest rates, and other competitive factors and levels of capital spending in certain industries; the impact of severe weather events, natural disasters and public health threats; economic and political consequences resulting from terrorist attacks, wars and global conflicts; the Company’s ability to make acquisitions and to integrate and operate acquired businesses on a profitable basis; cybersecurity incidents; the continued growth of artificial intelligence (“AI”) and any related changes to demand in AI-driven markets served by the Company’s customers; the relationship of the U.S. Dollar to other currencies and its impact on pricing and cost competitiveness; political and economic conditions in countries in which the Company operates; developments with respect to trade policy and existing, new or increased tariffs or other similar measures; changes to applicable laws and regulations, including tax laws; interest rates; capacity utilization and the effect this has on costs; labor markets; supply chain conditions; market conditions and material costs; risks related to environmental, social and corporate governance issues, including those related to climate change and sustainability; and developments with respect to contingencies, such as litigation and environmental matters.

Additional factors that could cause actual results to differ materially from those reflected in the forward-looking statements include, but are not limited to, the risks discussed in the “Risk Factors” section included in the Company’s most recent annual report on Form 10-K and the Company’s subsequent quarterly reports filed with the United States Securities and Exchange Commission (“SEC”) and the other risks discussed in the Company’s filings with the SEC. The forward-looking statements included here are only made as of the date of this report, and management undertakes no obligation to publicly update them to reflect subsequent events or circumstances, except as may be required by law. Investors are cautioned not to rely unduly on forward-looking statements when evaluating the information presented here.

PART I. FINANCIAL INFORMATION

Item 1.  Financial Statements

IDEX CORPORATION
CONDENSED CONSOLIDATED STATEMENTS OF INCOME
(In millions, except per share amounts)
(unaudited)

 Three Months Ended June 30,Six Months Ended June 30,
 2026202520262025
Net sales$920.6 $865.4 $1,807.5 $1,679.7 
Cost of sales493.8 473.2 982.6 918.6 
Gross profit426.8 392.2 824.9 761.1 
Selling, general and administrative expenses224.1 203.6 442.4 413.0 
Restructuring expenses and asset impairments2.8 0.7 10.2 18.2 
Operating income199.9 187.9 372.3 329.9 
Other (income) expense – net(1.3)2.4 (1.9)3.8 
Interest expense – net15.1 15.6 31.1 31.7 
Income before income taxes186.1 169.9 343.1 294.4 
Provision for income taxes42.7 38.8 79.8 67.9 
Net income143.4 131.1 263.3 226.5 
Net loss attributable to noncontrolling interest— 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$1.94 $1.74 $3.55 $3.00 
Diluted earnings per common share attributable to IDEX$1.93 $1.74 $3.54 $3.00 
Share data:
Basic weighted average common shares outstanding74.0 75.5 74.2 75.6 
Diluted weighted average common shares outstanding74.2 75.5 74.3 75.7 

See Notes to Condensed Consolidated Financial Statements
1
IDEX CORPORATION
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME
(In millions)
(unaudited)
 
 Three Months Ended June 30,Six Months Ended June 30,
 2026202520262025
Net income$143.4 $131.1 $263.3 $226.5 
Other comprehensive (loss) income:
Pension and other postretirement adjustments, net of tax(0.1)(0.2)(0.3)(0.4)
Cumulative translation adjustment(12.2)125.6 (55.7)179.5 
Other comprehensive (loss) income, net of tax(12.3)125.4 (56.0)179.1 
Comprehensive income131.1 256.5 207.3 405.6 
Comprehensive loss attributable to noncontrolling interest— 0.5 0.1 0.6 
Comprehensive income attributable to IDEX$131.1 $257.0 $207.4 $406.2 
See Notes to Condensed Consolidated Financial Statements
2
IDEX CORPORATION
CONDENSED CONSOLIDATED BALANCE SHEETS
(In millions, except per share amounts)
(unaudited)
 
June 30, 2026December 31, 2025
ASSETS
Current assets
Cash and cash equivalents$621.3 $580.0 
Receivables – net 547.8 521.7 
Inventories – net520.3 479.4 
Other current assets83.9 62.1 
Total current assets1,773.3 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 
Goodwill3,382.6 3,414.5 
Intangible assets – net1,164.5 1,247.4 
Other noncurrent assets146.0 153.9 
Total assets$6,930.0 $6,927.0 
LIABILITIES AND EQUITY
Current liabilities
Trade accounts payable$233.7 $224.7 
Accrued expenses293.5 297.0 
Current portion of long-term borrowings0.4 0.7 
Dividends payable54.0 53.0 
Total current liabilities581.6 575.4 
Long-term borrowings – net1,858.5 1,820.1 
Deferred income taxes297.8 303.0 
Other noncurrent liabilities185.5 202.3 
Total liabilities2,923.4 2,900.8 
Commitments and contingencies (Note 14)
Shareholders’ equity
Preferred stock:
Authorized: 5.0 million shares, $0.01 per share par value; Issued: None
— — 
Common stock:
Authorized: 150.0 million shares, $0.01 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 capital875.2 892.1 
Retained earnings4,655.4 4,500.1 
Accumulated other comprehensive income1.6 57.6 
Total shareholders’ equity4,008.0 4,027.5 
Noncontrolling interest(1.4)(1.3)
Total equity4,006.6 4,026.2 
Total liabilities and equity$6,930.0 $6,927.0 
See Notes to Condensed Consolidated Financial Statements
3
IDEX CORPORATION
CONDENSED CONSOLIDATED STATEMENTS OF EQUITY
(In millions, except per share amounts)
(unaudited)

Common Stock SharesCommon
Stock and
Additional
Paid-In Capital		Treasury Stock SharesTreasury
Stock
Accumulated Other Comprehensive Income (Loss)
Retained
Earnings		Total
Shareholders’
Equity		Noncontrolling InterestTotal Equity
Three Months Ended June 30, 2026
Balance, March 31, 202690.1 $869.4 15.8 $(1,453.6)$13.9 $4,620.1 $4,049.8 $(1.4)$4,048.4 
Net income— — — — — 143.4 143.4 — 143.4 
Other comprehensive income (net of tax of $0.1)
— — — — (12.3)— (12.3)— (12.3)
Net issuance of shares of treasury stock (net of tax withholdings of $0.2)
— 0.6 — 4.2 — — 4.8 — 4.8 
Repurchases of common stock (including excise tax of $0.6)
— — 0.3 (75.7)— — (75.7)— (75.7)
Share-based compensation— 6.1 — — — — 6.1 — 6.1 
Cash dividends declared - $1.46 per common share
— — — — — (108.1)(108.1)— (108.1)
Balance, June 30, 202690.1 $876.1 16.1 $(1,525.1)$1.6 $4,655.4 $4,008.0 $(1.4)$4,006.6 
Six Months Ended June 30, 2026
Balance, December 31, 202590.1 $893.0 15.5 $(1,423.2)$57.6 $4,500.1 $4,027.5 $(1.3)$4,026.2 
Net income (loss)— — — — — 263.4 263.4 (0.1)263.3 
Other comprehensive loss (net of tax of $0.1)
— — — — (56.0)— (56.0)— (56.0)
Net issuance of shares of treasury stock (net of tax withholdings of $1.4)
— (38.8)(0.1)49.4 — — 10.6 — 10.6 
Repurchases of common stock (including excise tax of $1.2)
— — 0.7 (151.3)— — (151.3)— (151.3)
Share-based compensation— 21.9 — — — — 21.9 — 21.9 
Cash dividends declared - $1.46 per common share
— — — — — (108.1)(108.1)— (108.1)
Balance, June 30, 202690.1 $876.1 16.1 $(1,525.1)$1.6 $4,655.4 $4,008.0 $(1.4)$4,006.6 
Three Months Ended June 30, 2025
Balance, March 31, 202590.1 $879.3 14.4 $(1,221.2)$(77.2)$4,325.7 $3,906.6 $(0.7)$3,905.9 
Net income (loss)— — — — — 131.6 131.6 (0.5)131.1 
Other comprehensive income (net of tax $0.1)
— — — — 125.4 — 125.4 — 125.4 
Net issuance of shares of treasury stock (net of tax withholdings of $—)
— — 0.1 0.3 — 0.3 — 0.3 
Repurchases of common stock (including excise tax of $0.5)
— — 0.2 (50.5)— — (50.5)— (50.5)
Share-based compensation— 5.2 — — — 5.2 — 5.2 
Cash dividends declared - $1.42 per common share
— — — — — (107.0)(107.0)— (107.0)
Balance, June 30, 202590.1 $884.5 14.7 $(1,271.4)$48.2 $4,350.3 $4,011.6 $(1.2)$4,010.4 
Six Months Ended June 30, 2025
Balance, December 31, 202490.1 $865.7 14.2 $(1,170.3)$(130.9)$4,230.2 $3,794.7 $(0.6)$3,794.1 
Net income (loss)— — — — — 227.1 227.1 (0.6)226.5 
Other comprehensive income (net of tax of $0.1)
— — — — 179.1 — 179.1 — 179.1 
Net issuance of shares of treasury stock (net of tax withholdings of $2.7)
— — — (0.2)— — (0.2)— (0.2)
Repurchases of common stock (including excise tax of $0.9)
— — 0.5 (100.9)— — (100.9)(100.9)
Share-based compensation— 18.8 — — — — 18.8 — 18.8 
Cash dividends declared - $1.42 per common share
— — — — — (107.0)(107.0)— (107.0)
Balance, June 30, 202590.1 $884.5 14.7 $(1,271.4)$48.2 $4,350.3 $4,011.6 $(1.2)$4,010.4 

See Notes to Condensed Consolidated Financial Statements
4
IDEX CORPORATION
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(In millions)
(unaudited)
 Six Months Ended June 30,
 20262025
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 
Depreciation40.1 37.4 
Amortization of intangible assets67.0 63.5 
Share-based compensation expense21.9 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 payable9.2 (0.7)
Deferred revenue2.7 6.4 
Accrued expenses(8.0)(22.4)
Other – net1.8 1.5 
Net cash flows provided by operating activities303.7 267.4 
Cash flows from investing activities
Capital expenditures(40.7)(29.1)
Acquisition of business, net of cash acquired — 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 facilities205.0 50.0 
Payments under revolving credit facilities(163.3)(92.7)
Payment of long-term borrowings— (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 cash42.2 (68.9)
Cash and cash equivalents and restricted cash at beginning of year585.9 638.9 
Cash and cash equivalents and restricted cash at end of period$628.1 $570.0 
Supplemental cash flow information
Cash paid for:
Interest$34.4 $36.7 
Income taxes – net81.4 83.4 















See Notes to Condensed Consolidated Financial Statements
5

IDEX CORPORATION
NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
(In millions, except per share amounts)
(unaudited)

1.    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 and six months ended June 30, 2026 are not necessarily indicative of the results to be expected for the entire year.

The Condensed Consolidated Financial Statements 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, 2025.

Recently Issued Accounting Standards

In November 2024, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2024-03, Disaggregation of Income Statement Expenses, which requires public entities to disclose, within the footnotes to the financial statements, disaggregated information about certain income statement expense captions, including disclosure of amounts for purchases of inventory, employee compensation, depreciation and intangible asset amortization, included in each relevant expense caption. ASU 2024-03 is effective for annual periods beginning after December 15, 2026 and interim periods within fiscal years beginning after December 15, 2027. Adoption of this ASU should be applied prospectively, but may 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 Company’s financial statement disclosures and expects the standard will increase disclosures in the Company’s annual and interim reporting when adopted.

In December 2025, the FASB issued ASU 2025-10, Accounting for Government Grants Received by Business Entities, which establishes authoritative guidance on the accounting for government grants to business entities. ASU 2025-10 is effective for annual and interim periods beginning after December 15, 2028. Adoption of this ASU may be applied using a modified prospective, modified retrospective or retrospective approach. Early adoption is permitted. The Company is currently evaluating the impact of the adoption of this standard on the Company’s financial statement disclosures, but does not expect the impact to be material.

In May 2026, the FASB issued ASU 2026-02, Environmental Credits and Environmental Credit Obligations (Topic 818), which establishes a model for the recognition, measurement, presentation and disclosure of environmental credits and compliance obligations that may be settled by using environmental credits. ASU 2026-02 is effective for annual and interim periods beginning after December 15, 2027. Adoption of this ASU should be applied retrospectively via a cumulative-effect adjustment to beginning retained earnings. Prior periods will not be adjusted. Early adoption is permitted. The Company is currently evaluating the impact of the adoption of this standard on the Consolidated Financial Statements and disclosures.

2.    Acquisitions and Divestitures

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.

6

IDEX CORPORATION
NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
(In millions, except per share amounts)
(unaudited)
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 that existed as of the acquisition date are considered for subsequent adjustment to the purchase price allocation. Goodwill recognized reflects the strategic fit, revenue and earnings growth potential of the acquired business and its synergies with existing IDEX businesses.

2025 Acquisitions

Micro-LAM, Inc.

On July 29, 2025, the Company acquired Micro-LAM, Inc. (“Micro-LAM”) in a stock acquisition. Micro-LAM is an advanced optics manufacturer of laser-assisted machining, ultra-precision diamond tools and custom optics that is complementary to the Company’s Optics Technologies solutions. Headquartered in Portage, Michigan, Micro-LAM operates in the Company’s Scientific Fluidics & Optics reporting unit within the Health & Science Technologies segment. Micro-LAM was acquired for cash consideration of $80.4 million, net of cash acquired of $0.3 million, plus a potential earnout of up to $12.0 million of additional cash consideration based upon the achievement of certain financial performance targets over a two-year period. Total consideration of $81.6 million includes the fair value of the potential earnout as of the acquisition date of $1.2 million. For additional discussion of the earnout valuation, refer to Note 9, “Fair Value Measurements.” The acquisition was funded using additional borrowings under the Company’s Revolving Facility (as defined in Note 8, “Borrowings”). Goodwill and intangible assets recognized as part of this transaction were $37.6 million and $44.6 million, respectively. The goodwill is not deductible for tax purposes.

As of June 30, 2026, 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$7.3 
Property, plant and equipment8.0 
Goodwill37.6 
Intangible assets44.6 
Other noncurrent assets2.9 
Total assets acquired100.4 
Current liabilities(6.4)
Deferred income taxes(9.8)
Other noncurrent liabilities(2.6)
Net assets acquired(1)
$81.6 

(1) During the fourth quarter of 2025, the Company finalized the purchase price of Micro-LAM, resulting in a reduction to the purchase price of $0.3 million.

Subsequent to June 30, 2026, the Company finalized the allocation of the purchase price to the assets acquired and liabilities assumed with no material changes to the preliminary allocation as of June 30, 2026.
7

IDEX CORPORATION
NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
(In millions, except per share amounts)
(unaudited)
The acquired intangible assets and weighted average amortization periods are as follows:

Total
Weighted Average Life
(in years)
Trade names$5.3 15
Customer relationships20.9 11
Technology
18.4 12
Acquired intangible assets$44.6 

Acquisition-Related Costs

The Company incurred acquisition-related costs of $0.4 million and $1.6 million during the three months ended June 30, 2026 and 2025, respectively, and $0.9 million and $2.3 million during the six months ended June 30, 2026 and 2025, respectively. These costs were recorded in Selling, general and administrative expenses and were related to completed, pending and potential transactions, including transactions that ultimately were not completed. There were no fair value inventory step-up charges recorded during the three and six months ended June 30, 2026 and 2025.

3.    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 
8

IDEX CORPORATION
NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
(In millions, except per share amounts)
(unaudited)
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 

9

IDEX CORPORATION
NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
(In millions, except per share amounts)
(unaudited)
(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 

4.    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, presented as Net sales on the Condensed Consolidated Statements of Income, was attributed to geographical region based on the location of the customer. The following tables present revenue disaggregated by reporting unit and geographical region.

10

IDEX CORPORATION
NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
(In millions, except per share amounts)
(unaudited)
Revenue by reporting unit for the three and six months ended June 30, 2026 and 2025 was as follows:

Three Months Ended June 30,Six Months Ended June 30,
2026202520262025
Scientific Fluidics & Optics$233.3 $209.0 $447.4 $403.0 
Performance Pneumatic Technologies78.0 65.1 161.3 124.1 
Sealing Solutions71.8 61.3 141.5 121.9 
Material Processing Technologies31.9 29.9 63.2 57.8 
Intersegment elimination(1.0)(1.4)(2.0)(2.8)
Health & Science Technologies414.0 363.9 811.4 704.0 
Pumps110.6 109.1 219.0 214.9 
Water97.9 85.8 187.5 168.7 
Energy49.1 55.4 99.1 102.3 
Agriculture35.8 37.1 68.9 69.1 
Valves23.7 23.5 44.1 46.4 
Intersegment elimination(0.4)(0.4)(0.6)(0.7)
Fluid & Metering Technologies316.7 310.5 618.0 600.7 
Fire & Safety120.7 123.6 244.9 234.6 
Dispensing35.4 37.3 69.5 80.9 
BAND-IT33.8 30.6 63.8 60.3 
Intersegment elimination— (0.5)(0.1)(0.8)
Fire & Safety/Diversified Products189.9 191.0 378.1 375.0 
Net sales$920.6 $865.4 $1,807.5 $1,679.7 



11

IDEX CORPORATION
NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
(In millions, except per share amounts)
(unaudited)
Revenue by geographical region for the three and six months ended June 30, 2026 and 2025 was as follows:

Three Months Ended June 30, 2026
HSTFMTFSDPIDEX
U.S.$186.0 $183.7 $97.4 $467.1 
North America, excluding U.S.7.6 15.8 8.4 31.8 
Europe126.6 50.0 45.3 221.9 
Asia81.6 45.7 28.9 156.2 
Other(1)
13.2 21.9 9.9 45.0 
Intersegment elimination(1.0)(0.4)— (1.4)
Net sales$414.0 $316.7 $189.9 $920.6 

Three Months Ended June 30, 2025
HSTFMTFSDPIDEX
U.S.$166.3 $175.7 $93.8 $435.8 
North America, excluding U.S.5.2 18.4 7.9 31.5 
Europe116.1 51.6 52.4 220.1 
Asia69.9 41.7 29.5 141.1 
Other(1)
7.8 23.5 7.9 39.2 
Intersegment elimination(1.4)(0.4)(0.5)(2.3)
Net sales$363.9 $310.5 $191.0 $865.4 

Six Months Ended June 30, 2026
HSTFMTFSDPIDEX
U.S.$371.7 $359.4 $193.1 $924.2 
North America, excluding U.S.13.4 31.0 15.9 60.3 
Europe249.4 103.8 94.0 447.2 
Asia155.9 80.0 56.0 291.9 
Other(1)
23.0 44.4 19.2 86.6 
Intersegment elimination(2.0)(0.6)(0.1)(2.7)
Net sales$811.4 $618.0 $378.1 $1,807.5 

 Six Months Ended June 30, 2025
HSTFMTFSDPIDEX
U.S.$321.4 $344.5 $189.3 $855.2 
North America, excluding U.S.9.9 34.4 16.0 60.3 
Europe218.2 100.0 94.9 413.1 
Asia141.2 76.1 60.5 277.8 
Other(1)
16.1 46.4 15.1 77.6 
Intersegment elimination(2.8)(0.7)(0.8)(4.3)
Net sales$704.0 $600.7 $375.0 $1,679.7 

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

12

IDEX CORPORATION
NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
(In millions, except per share amounts)
(unaudited)
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 and six months ended June 30, 2026 and 2025.

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:
June 30, 2026December 31, 2025
Billed receivables$506.3 $477.1 
Unbilled receivables38.0 34.8 
Total customer receivables$544.3 $511.9 

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:
June 30, 2026December 31, 2025
Deferred revenue – current$54.7 $45.8 
Deferred revenue – noncurrent15.4 22.0 
Total deferred revenue$70.1 $67.8 

5.    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.

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 common share. The Company has both participating and non-participating securities. Dividend rights for restricted stock awards issued under the IDEX Corporation 2024 Incentive Award Plan (the “2024 Incentive Award Plan”) are subject to the same vesting requirements as the underlying restricted stock awards, and therefore, these awards are considered non-participating securities. Dividend rights for restricted stock awards issued prior to the adoption of the 2024 Incentive Award Plan are non-forfeitable and are not subject to the same vesting requirements as the underlying restricted stock awards. As such, these awards have been determined to be participating securities. Accordingly, Diluted EPS attributable to IDEX was computed using the two-class method.

13

IDEX CORPORATION
NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
(In millions, except per share amounts)
(unaudited)
Basic weighted average common shares outstanding reconciles to diluted weighted average common shares outstanding as follows:
 Three Months Ended June 30,Six Months Ended June 30,
 2026202520262025
Basic weighted average common shares outstanding74.0 75.5 74.2 75.6 
Dilutive effect of restricted stock, performance share units and stock options0.2 — 0.1 0.1 
Diluted weighted average common shares outstanding74.2 75.5 74.3 75.7 

Share-based payment awards of approximately 0.4 million and 0.9 million shares of common stock for the three months ended June 30, 2026 and 2025, respectively, and 0.5 million and 0.8 million shares of common stock for the six months ended June 30, 2026 and 2025, respectively, were not included in the computation of Diluted EPS attributable to IDEX because the effect of their inclusion would have been antidilutive.

6.    Balance Sheet Components

Balance Sheet Components

The following table presents additional information regarding certain balance sheet components as of June 30, 2026 and December 31, 2025:

 June 30, 2026December 31, 2025
RECEIVABLES – NET
Customers$544.3 $511.9 
Other22.6 19.2 
Total566.9 531.1 
Less: allowance for credit losses, estimated returns and other reserves(1)
19.1 9.4 
Receivables – net$547.8 $521.7 
INVENTORIES – NET
Raw materials and component parts$329.7 $316.1 
Work in process66.0 47.7 
Finished goods124.6 115.6 
Inventories – net$520.3 $479.4 
ACCRUED EXPENSES
Payroll and related items$102.9 $112.2 
Management incentive compensation18.4 19.1 
Income taxes payable14.5 14.0 
Warranty13.1 14.4 
Deferred revenue54.7 45.8 
Lease liability26.6 27.8 
Restructuring2.1 3.0 
Accrued interest12.0 11.7 
Other49.2 49.0 
Accrued expenses$293.5 $297.0 

14

IDEX CORPORATION
NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
(In millions, except per share amounts)
(unaudited)
(1) The allowance for credit losses, estimated returns and other reserves as of June 30, 2026 includes expected customer rebates associated with the International Emergency Economic Powers Act tariff refunds recorded during the three months ended June 30, 2026.

Cash, Cash Equivalents and Restricted Cash

The Company has restricted cash primarily related to certain letters of credit, funds held in escrow in connection with a business acquisition and funds restricted in connection with a legal matter. The following table presents a reconciliation of Cash and cash equivalents and restricted cash in the Condensed Consolidated Statements of Cash Flows:

June 30, 2026December 31, 2025June 30, 2025December 31, 2024
Cash and cash equivalents$621.3 $580.0 $568.2 $620.8 
Restricted cash(1)
3.9 3.0 1.4 18.1 
Long-term restricted cash(2)
2.9 2.9 0.4 — 
Total cash, cash equivalents and restricted cash$628.1 $585.9 $570.0 $638.9 

(1) Restricted cash has been included in Other current assets in the Consolidated Balance Sheets for all periods disclosed.
(2) Long-term restricted cash has been included in Other noncurrent assets in the Consolidated Balance Sheets for all periods disclosed.

7.    Goodwill and Intangible Assets

The changes in the carrying amount of goodwill for the six months ended June 30, 2026, by reportable business segment, were as follows:

HSTFMTFSDPIDEX
Goodwill$2,406.5 $801.7 $406.9 $3,615.1 
   Accumulated goodwill impairment losses(149.8)(20.7)(30.1)(200.6)
Balance at January 1, 2026
2,256.7 781.0 376.8 3,414.5 
Foreign currency translation(24.1)(4.3)(4.1)(32.5)
Measurement period adjustments0.6 — — 0.6 
Balance at June 30, 2026$2,233.2 $776.7 $372.7 $3,382.6 

15

IDEX CORPORATION
NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
(In millions, except per share amounts)
(unaudited)
The following table provides the gross carrying value and accumulated amortization for each major class of intangible asset at June 30, 2026 and December 31, 2025:

 June 30, 2026December 31, 2025
 Gross
Carrying
Amount		Accumulated
Amortization		NetGross
Carrying
Amount		Accumulated
Amortization		Net
Amortized intangible assets:
Trade names(1)
$194.4 $(66.5)$127.9 $209.7 $(71.4)$138.3 
Customer relationships(1)
1,129.3 (416.0)713.3 1,148.4 (380.9)767.5 
Technology338.3 (113.0)225.3 344.3 (102.3)242.0 
Software15.9 (8.8)7.1 16.0 (7.3)8.7 
Total amortized intangible assets1,677.9 (604.3)1,073.6 1,718.4 (561.9)1,156.5 
Indefinite-lived intangible assets:
Banjo trade name62.1 — 62.1 62.1 — 62.1 
Akron Brass trade name28.8 — 28.8 28.8 — 28.8 
Total intangible assets$1,768.8 $(604.3)$1,164.5 $1,809.3 $(561.9)$1,247.4 
(1) During the first six months of 2026, the Company recognized impairment charges of $1.1 million and $3.2 million related to trade names and customer relationships, respectively, in the Company’s FMT segment. The impairment charges are reflected in Restructuring expenses and asset impairments in the Condensed Consolidated Statements of Income for the six months ended June 30, 2026.

There have been no events or circumstances since the last annual goodwill and indefinite-lived intangible asset impairment assessment date, October 31, 2025, that would have required an interim impairment test.

Amortization of intangible assets was $33.2 million and $67.0 million for the three and six months ended June 30, 2026, respectively, and $32.0 million and $63.5 million for the three and six months ended June 30, 2025, respectively. Based on the intangible asset balances as of June 30, 2026, expected amortization expense for the remaining six months of 2026 and for the years 2027 through 2030 is as follows:

Estimated Amortization
Remainder of 2026$64.8 
2027126.4 
2028123.6 
2029113.6 
2030105.1 

16

IDEX CORPORATION
NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
(In millions, except per share amounts)
(unaudited)
8.   Borrowings

Borrowings at June 30, 2026 and December 31, 2025 consisted of the following: 

June 30, 2026December 31, 2025
5.13% Senior Notes, due June 2028 (the “5.13% Senior Notes”)
100.0 100.0 
4.950% Senior Notes, due September 2029 (the “4.950% Senior Notes”)
500.0 500.0 
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)
266.3 228.8 
Other borrowings0.6 1.0 
Total borrowings1,866.9 1,829.8 
Less: current portion0.4 0.7 
Less: unamortized debt issuance costs and discount on debt8.0 9.0 
Long-term borrowings$1,858.5 $1,820.1 

(1) At June 30, 2026, there was $266.3 million outstanding under the Revolving Facility and $4.1 million of outstanding letters of credit, resulting in a net available borrowing capacity under the Revolving Facility of approximately $529.6 million. During the six months ended June 30, 2026, the Company drew down an aggregate amount of $205.0 million under the Revolving Facility which was used for general corporate purposes, including to finance share repurchases. The Company repaid $163.3 million under the Revolving Facility during the six months ended June 30, 2026. The weighted-average interest rate for borrowings outstanding under the Revolving Facility was 3.87% and 3.78% for the three and six months ended June 30, 2026, respectively, and 3.55% for the year ended December 31, 2025.

9.    Fair Value Measurements

The accounting guidance for fair value measurements and disclosures establishes a three-level fair value hierarchy:

•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.

17

IDEX CORPORATION
NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
(In millions, except per share amounts)
(unaudited)
The following table summarizes the basis used to measure the Company’s financial assets and liabilities at fair value on a recurring basis in the balance sheets at June 30, 2026 and December 31, 2025:

 June 30, 2026
 Level 1Level 2Level 3Total
Assets
Trading securities - mutual funds held in nonqualified SERP(1)
$11.3 $— $— $11.3 
Liabilities
Contingent consideration(2)
— — 1.2 1.2 
 December 31, 2025
 Level 1Level 2Level 3Total
Assets
Trading securities - mutual funds held in nonqualified SERP(1)
$10.8 $— $— $10.8 
Liabilities
Contingent consideration(2)
— — 1.2 1.2 


(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) In connection with the acquisition of Micro-LAM, the Company entered into an earnout agreement that may require us to make future cash consideration payments of up to $12.0 million based upon the achievement of certain financial performance targets from January 1, 2026 to December 31, 2027. As of June 30, 2026, $0.4 million of contingent consideration related to the Micro-LAM acquisition has been included in Accrued expenses and $0.8 million has been included in Other noncurrent liabilities on the Condensed Consolidated Balance Sheets. As of December 31, 2025, $1.2 million of contingent consideration related to the Micro-LAM acquisition was included in Other noncurrent liabilities on the Condensed Consolidated Balance Sheets. The contingent consideration was derived using a Monte Carlo simulation model which utilizes inputs including discount rates, volatility rates, and estimated probability of achieving projected revenue and profitability targets. This fair value measurement of contingent consideration is categorized within Level 3 of the fair value hierarchy, as the measurement amount is based primarily on significant inputs that are not observable in the market. The fair value of the contingent consideration is re-measured at each reporting period, and the change in fair value is recognized within Selling, general and administrative expenses in the Condensed Consolidated Statements of Income. There was no change in the fair value measurement of contingent consideration during the three and six months ended June 30, 2026.
There were no transfers of assets or liabilities between Level 1, Level 2 and Level 3 during the three and six months ended June 30, 2026 or the year ended December 31, 2025.

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

Certain non-financial assets, primarily property, plant and equipment, goodwill and intangible assets, are not required to be measured at fair value on a recurring basis and are reported at their carrying value. However, these assets are required to be assessed for impairment whenever events or circumstances indicate that their carrying value may not be fully recoverable, and at least annually for goodwill and indefinite-lived intangible assets. See Note 7, “Goodwill and Intangible Assets,” for additional information about these assets.

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
18

IDEX CORPORATION
NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
(In millions, except per share amounts)
(unaudited)
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.

June 30, 2026December 31, 2025
Fair ValueCarrying AmountFair ValueCarrying Amount
Total Borrowings, less unaccreted debt discount$1,789.5 $1,866.0 $1,773.9 $1,828.8 


10.    Accumulated Other Comprehensive Income (Loss)

The components of Accumulated other comprehensive income (loss) for the three and six months ended June 30, 2026 and 2025 are as follows:
Cumulative Translation AdjustmentPension and Other Postretirement AdjustmentsAccumulated Other Comprehensive Income (Loss)
Three Months Ended June 30, 2026
Balance, March 31, 2026(1)
$5.3 $8.6 $13.9 
Other comprehensive loss before reclassification adjustments(12.2)— (12.2)
Gain reclassified from Accumulated other comprehensive income(2)(3)
— (0.2)(0.2)
Tax impact— 0.1 0.1 
Net other comprehensive loss(1)
(12.2)(0.1)(12.3)
Balance, June 30, 2026(1)
$(6.9)$8.5 $1.6 
Six Months Ended June 30, 2026
Balance, December 31, 2025(1)
$48.8 $8.8 $57.6 
Other comprehensive loss before reclassification adjustments
(55.7)— (55.7)
Gain reclassified from Accumulated other comprehensive income(2)(3)
(0.4)(0.4)
Tax impact0.1 0.1 
Net other comprehensive loss(1)
(55.7)(0.3)(56.0)
Balance, June 30, 2026(1)
$(6.9)$8.5 $1.6 
19

IDEX CORPORATION
NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
(In millions, except per share amounts)
(unaudited)
Cumulative Translation AdjustmentPension and Other Postretirement AdjustmentsAccumulated Other Comprehensive Income (Loss)
Three Months Ended June 30, 2025
Balance, March 31, 2025(1)
$(83.6)$6.4 $(77.2)
Other comprehensive income before reclassification adjustments125.6 — 125.6 
Gain reclassified from Accumulated other comprehensive income (loss)(2)(3)
— (0.3)(0.3)
Tax impact— 0.1 0.1 
Net other comprehensive income (loss)(1)
125.6 (0.2)125.4 
Balance, June 30, 2025(1)
$42.0 $6.2 $48.2 
Six Months Ended June 30, 2025
Balance, December 31, 2024(1)
$(137.5)$6.6 $(130.9)
Other comprehensive income before reclassification adjustments179.5 — 179.5 
Gain reclassified from Accumulated other comprehensive income (loss)(2)(3)
— (0.5)(0.5)
Tax impact— 0.1 0.1 
Net other comprehensive income (loss)(1)
179.5 (0.4)179.1 
Balance, June 30, 2025(1)
$42.0 $6.2 $48.2 

(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.

11.    Share Repurchases

On September 17, 2025, the Company’s Board of Directors authorized the repurchase of an additional $635.0 million of the Company’s common shares. This approval is in addition to the prior repurchase authorization of the Company’s Board of Directors of $500.0 million on March 17, 2020. These authorizations have no expiration date. During the six months ended June 30, 2026, the Company repurchased a total of 0.7 million shares at a cost of $151.3 million (including estimated excise taxes of $1.2 million, which will be paid in 2027), of which $1.2 million was settled in July 2026. The Company paid $2.3 million of excise taxes during the six months ended June 30, 2026 for shares repurchased in 2025. During the six months ended June 30, 2025, the Company repurchased a total of 0.5 million shares at a cost of $100.9 million (including estimated excise taxes of $0.9 million). As of June 30, 2026, the amount of share repurchase authorization remaining was $774.7 million, excluding fees, commissions, excise taxes and other expenses related to such common stock repurchases.

12.   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.

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 in the periods presented was estimated on the date of the grant using the Black Scholes valuation model. Stock options generally vest annually in equal amounts 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:

20

IDEX CORPORATION
NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
(In millions, except per share amounts)
(unaudited)
 Three Months Ended June 30,Six Months Ended June 30,
 2026202520262025
Weighted average fair value of grants$45.91n/a$49.13$46.74
Dividend yield1.49%n/a1.37%1.41%
Volatility23.98%n/a23.81%23.06%
Risk-free interest rate3.94%n/a3.61%4.28%
Expected life (in years)4.90n/a4.904.70

A summary of the Company’s stock option activity as of June 30, 2026 and changes during the six months ended June 30, 2026 are presented in the following table:
Stock OptionsSharesWeighted
Average
Exercise Price		Weighted-Average
Remaining
Contractual Term (years)		Aggregate
Intrinsic
Value
Outstanding at January 1, 2026954,201 $192.03 5.82$8.9 
Granted86,575 207.43 
Exercised(80,632)148.18 
Forfeited(29,849)222.13 
Outstanding at June 30, 2026930,295 $196.30 5.86$29.7 
Vested and expected to vest as of June 30, 2026918,018 $196.06 5.82$29.5 
Exercisable at June 30, 2026699,529 $190.02 5.00$26.4 

As of June 30, 2026, there was $4.1 million of total unrecognized compensation cost related to stock options that is expected to be recognized over a weighted-average period of 1.3 years.

Restricted Stock

Restricted stock awards granted beginning in 2026 generally vest annually in equal amounts over three years, with vesting beginning one year from the date of the grant. Restricted stock awards granted prior to 2026 generally cliff vest after three years for employees. Restricted stock awards granted to non-employee directors generally cliff vest after one year. The service period for certain retiree eligible participants is accelerated. Unvested restricted stock granted after the adoption of the 2024 Incentive Award Plan earn dividend equivalents for the award period, which will be paid to participants upon vesting of the underlying awards. Unvested restricted stock granted prior to the adoption of the 2024 Incentive Award Plan earn and are paid dividends. The fair value of restricted stock 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 June 30, 2026 and changes during the six months ended June 30, 2026 are presented in the following table:

Restricted StockSharesWeighted-Average
Grant Date Fair
Value
Unvested at January 1, 2026190,822 $198.64 
Granted97,180 203.24 
Vested(25,025)210.50 
Forfeited(18,588)202.22 
Unvested at June 30, 2026244,389 $198.98 

As of June 30, 2026, there was $19.4 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.

21

IDEX CORPORATION
NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
(In millions, except per share amounts)
(unaudited)
Cash-Settled Restricted Stock

The Company also maintains a cash-settled share-based compensation plan for certain employees. Cash-settled restricted stock awards granted under the 2024 Incentive Plan beginning in 2026 generally vest annually in equal amounts over three years, with vesting beginning one year from the date of grant. Cash-settled restricted stock awards granted prior to 2026 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 June 30, 2026 and December 31, 2025, the Company had accrued $4.8 million and $3.6 million, respectively, for cash-settled restricted stock in Accrued expenses in the Condensed Consolidated Balance Sheets and had accrued $2.5 million and $2.4 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 earned throughout the award period and paid upon vesting for certain cash-settled restricted stock awards granted after the adoption of the 2024 Incentive Award Plan. Dividend equivalents are paid on certain cash-settled restricted stock awards granted prior to the adoption of the 2024 Incentive Award Plan. A summary of the Company’s unvested cash-settled restricted stock activity as of June 30, 2026 and changes during the six months ended June 30, 2026 are presented in the following table:

Cash-Settled Restricted StockSharesWeighted-Average
Fair Value
Unvested at January 1, 202662,292 $177.94 
Granted31,360 207.71 
Vested(14,365)206.67 
Forfeited(3,785)226.95 
Unvested at June 30, 202675,502 $226.95 

As of June 30, 2026, there was $7.7 million of total unrecognized compensation cost related to cash-settled restricted stock that is expected to be recognized over a weighted-average period of 1.2 years.

Performance Share Units

Performance share unit awards represent rights to receive shares of the Company’s common stock and will vest between 0% to 250% of the target share unit amount. Performance share units granted after December 31, 2024 are earned over a three-year performance period based on an internal income growth metric (a performance condition), weighted 25%. The remaining 75% of the award is earned based on a market condition, which is the total shareholder return of IDEX common stock in relation to the total shareholder return of a group of peer companies (for awards granted in 2025, the peer group consists of companies in the S&P 500 index, and for awards granted beginning in 2026, the peer group consists of companies in the S&P 900 Capital Goods and Life Sciences Tools & Services indexes). Performance share unit awards granted prior to 2025 are earned solely based on the Company’s total shareholder return ranking in relation to the total shareholder return of companies in the S&P 500 Index over a three-year period following the date of grant.
The fair value of the performance condition portion of the awards granted after December 31, 2024 is equal to the market price of the Company’s stock at the date of the grant, and the amount of expense recognized over the vesting period is subject to adjustment based on the expected attainment of the performance condition. The fair value of the market condition portion of all performance share unit awards is determined using a Monte Carlo simulation model, and the amount of expense recognized over the vesting period is not subject to change based on future market conditions. The assumptions used in the Monte Carlo simulation model to determine the fair value of the market condition portion of the performance share units granted in the respective periods were as follows:
22

IDEX CORPORATION
NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
(In millions, except per share amounts)
(unaudited)

 Three Months Ended June 30,Six Months Ended June 30,
2026202520262025
Weighted average fair value of grants$250.95n/a$274.15$232.44
Dividend yield—%n/a—%—%
Volatility24.28%n/a24.07%22.93%
Risk-free interest rate3.84%n/a3.47%4.23%
Expected life (in years)2.82n/a2.942.94

A summary of the Company’s performance share unit activity as of June 30, 2026 and changes during the six months ended June 30, 2026 are presented in the following table:
Performance Share UnitsSharesWeighted-Average
Grant Date Fair
Value
Unvested at January 1, 202678,205 $267.78 
Granted41,030 252.58 
Vested— n/a
Forfeited(25,485)301.18 
Unvested at June 30, 202693,750 $259.10 

The performance period for the 2023 grants ended as of January 31, 2026. The 2023 grants achieved a 0% payout factor, and as such, the Company did not issue any shares of the Company's stock for awards that vested in 2026.

As of June 30, 2026, there was $4.7 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

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. Total compensation cost related to all share-based awards was as follows:

Three Months Ended June 30,Six Months Ended June 30,
2026202520262025
Stock options expense$0.6 $1.1 $3.7 $4.3 
Restricted stock expense 4.5 3.3 11.0 8.8
Cash-settled restricted stock expense2.1 0.6 4.3 1.2
Performance share units expense1.0 0.8 7.2 5.7
Total pre-tax share-based compensation expense(1)
8.2 5.8 26.2 20.0
Income tax benefit(1.1)(1.2)(2.4)(2.4)
Total share-based compensation expense, net of income taxes$7.1 $4.6 $23.8 $17.6 

23

IDEX CORPORATION
NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
(In millions, except per share amounts)
(unaudited)
(1) Pre-tax compensation cost is recognized in the Condensed Consolidated Statements of Income depending on the functional area of the underlying employees, as follows:

Three Months Ended June 30,Six Months Ended June 30,
2026202520262025
Cost of sales$0.7 $0.3 $1.8 $1.1 
Selling, general and administrative expenses7.5 5.5 24.4 19.5
Restructuring expenses and asset impairments(2)
— — — (0.6)
Total pre-tax share-based compensation expense$8.2 $5.8 $26.2 $20.0 

(2) During the six months ended June 30, 2025, a benefit of $0.6 million was recognized in Restructuring expenses and asset impairments in the Condensed Consolidated Statements of Income related to forfeitures of share-based compensation awards resulting from restructuring actions initiated during the first quarter of 2025.

13.   Retirement Benefits

The Company sponsors several qualified and nonqualified defined benefit and defined contribution pension plans as well as other postretirement plans for its employees. The following tables provide the components of net periodic cost for the Company’s major defined benefit plans and its other postretirement plans.
 Pension Benefits
 Three Months Ended June 30,
 20262025
 U.S.Non-U.S.U.S.Non-U.S.
Service cost$— $0.3 $— $0.5 
Interest cost0.1 0.7 0.1 0.6 
Expected return on plan assets— (0.5)— (0.4)
Net amortization0.1 (0.2)0.1 (0.2)
Net periodic cost$0.2 $0.3 $0.2 $0.5 
 Pension Benefits
 Six Months Ended June 30,
 20262025
 U.S.Non-U.S.U.S.Non-U.S.
Service cost$— $0.6 $— $0.8 
Interest cost0.2 1.3 0.2 1.2 
Expected return on plan assets— (1.0)— (0.9)
Net amortization0.1 (0.2)0.1 (0.2)
Net periodic cost$0.3 $0.7 $0.3 $0.9 


24

IDEX CORPORATION
NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
(In millions, except per share amounts)
(unaudited)
 Other Postretirement Benefits
 Three Months Ended June 30,Six Months Ended June 30,
 2026202520262025
Service cost$0.1 $0.1 $0.2 $0.2 
Interest cost0.2 0.2 0.4 0.4 
Net amortization(0.1)(0.2)(0.3)(0.4)
Net periodic cost$0.2 $0.1 $0.3 $0.2 
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 $4.6 million to its defined benefit plans and $1.0 million to its other postretirement benefit plans in 2026. The Company contributed a total of $2.8 million and $2.4 million to fund these plans during the six months ended June 30, 2026 and 2025, respectively.

14.    Commitments and Contingencies

The Company and certain of its subsidiaries are involved in pending and threatened legal, regulatory and other proceedings incidental to the operations of their businesses. 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.

15.   Income Taxes

The Company’s provision for income taxes is based upon estimated annual tax rates for the year applied to federal income as well as state and foreign income in various jurisdictions, permanent differences between book and tax items, tax credits and the Company’s change in relative income in each jurisdiction. The provision for income taxes and the effective tax rates for the periods presented were as follows:

Three Months Ended June 30,Six Months Ended June 30,
2026202520262025
Income before income taxes$186.1 $169.9 $343.1 $294.4 
Provision for income taxes42.7 38.8 79.8 67.9 
Effective tax rate23.0%22.9%23.3%23.1%

The effective tax rate for the three and six months ended June 30, 2026 had no material discrete tax items impacting the effective tax rates.

The effective tax rate for the three and six months ended June 30, 2025 reflects a discrete tax benefit related to the finalization of a prior year preferential rate with taxing authorities in a foreign jurisdiction. This discrete tax benefit was mostly offset by the impact of state tax law changes enacted in June 2025, foreign tax differentials related to increased tax rates and the mix of earnings in higher tax rate jurisdictions.

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Item 2.    Management’s Discussion and Analysis of Financial Condition and Results of Operations

The following discussion and analysis should be read in conjunction with the Company’s Condensed Consolidated Financial Statements and related notes in this quarterly report. This discussion may contain forward-looking statements based upon current expectations that involve risks and uncertainties. The Company’s actual results and the timing of events could differ materially from those anticipated in these forward-looking statements as a result of several factors, including those set forth under Item 1A, “Risk Factors” in the Company’s most recent annual report on Form 10-K and under the heading “Cautionary Statement Under the Private Securities Litigation Reform Act” discussed elsewhere in this quarterly report.

This discussion includes certain non-GAAP financial measures that have been defined and reconciled to the most directly comparable financial measure prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) under the headings “Non-GAAP Disclosures” and “Free Cash Flow.” This discussion also includes Operating working capital, which has been defined under the heading “Liquidity and Capital Resources.” The non-GAAP financial measures disclosed by the Company should not be considered a substitute for, or superior to, financial measures prepared in accordance with U.S. GAAP. The financial results prepared in accordance with U.S. GAAP and the reconciliations from these results should be carefully evaluated.

Overview

IDEX is an applied solutions provider specializing in the manufacturing of health and science technologies, fluid and metering technologies, and fire, safety and other diversified products built to customers’ specifications. IDEX’s products are sold in niche markets across a wide range of industries throughout the world. Accordingly, IDEX’s businesses are affected by levels of industrial activity and economic conditions in the U.S. and in other countries where it does business, as well as by the relationship of the U.S. Dollar to other currencies. Levels of capacity utilization and capital spending in certain markets and overall industrial activity are important factors that influence the demand for IDEX’s products.

Highlights
(All comparisons are against the same period in 2025 unless otherwise noted)

Three Months Ended June 30, 2026

•Reported Net sales of $920.6 million increased 6% overall and increased 5% organically*
•Reported diluted earnings per common share (“EPS”) attributable to IDEX of $1.93 increased 11%
•Adjusted diluted EPS attributable to IDEX* of $2.32 increased 12%
•Returned capital to shareholders in the form of $77.1 million of share repurchases and $53.9 million of dividends

*These are non-GAAP measures. See the definitions of these non-GAAP measures and reconciliations to their most directly comparable U.S. GAAP financial measures under the heading “Non-GAAP Disclosures.”

During the second quarter of 2026, the Company delivered strong results. Higher than anticipated volumes continued in targeted advantaged markets, including data centers, semiconductor and space and defense, primarily within the Health & Science Technologies (“HST”) segment. The net impact of IEEPA tariff refunds (defined and described below) more than offset a challenging prior year price/cost comparison and contributed an $0.08 benefit to EPS.

Recent Developments

On February 20, 2026, the U. S. Supreme Court issued a decision invalidating the broad-based tariffs imposed under the International Emergency Economic Powers Act (“IEEPA”). The Company collected substantially all of the anticipated refunds of previously paid IEEPA tariffs during the second quarter of 2026, resulting in a $22.0 million reduction of Cost of sales as well as a $14.7 million reduction of Net sales from expected customer rebates associated with the refunds.

In response to the U.S. Supreme Court ruling, the administration implemented new tariffs under alternative statutory authority and may continue implementing other additional tariffs. The tariffs enacted in 2025 and in the first quarter of 2026 did not have a material impact on the Company’s business or financial statements in the periods presented.

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Results of Operations
The following is a discussion and analysis of the Company’s results of operations for the three and six months ended June 30, 2026 compared with the three and six months ended June 30, 2025.

Three Months Ended June 30,ChangeSix Months Ended June 30,Change
(In millions, except per share amounts)20262025$% / bps20262025$% / bps
Domestic sales$467.1$435.8$31.3 7%$924.2$855.2$69.0 8%
International sales453.5429.623.9 6%883.3824.558.8 7%
Net sales920.6865.455.2 6%1,807.51,679.7127.8 8%
Cost of sales493.8473.220.6 4%982.6918.664.0 7%
Gross profit426.8392.234.6 9%824.9761.163.8 8%
Gross margin46.3%45.3%n/a100 bps45.6%45.3%n/a30 bps
Selling, general and administrative expenses224.1203.620.5 10%442.4413.029.4 7%
Restructuring expenses and asset impairments2.80.72.1 300%10.218.2(8.0)(44%)
Operating income199.9187.912.0 6%372.3329.942.4 13%
Other (income) expense – net(1.3)2.4(3.7)(154%)(1.9)3.8(5.7)(150%)
Interest expense – net15.115.6(0.5)(3%)31.131.7(0.6)(2%)
Income before income taxes186.1169.916.2 10%343.1294.448.7 17%
Provision for income taxes42.738.83.9 10%79.867.911.9 18%
Effective tax rate23.0%22.9%n/a10 bps23.3%23.1%n/a20 bps
Net income attributable to IDEX$143.4$131.6$11.8 9%$263.4$227.1$36.3 16%
Diluted earnings per common share attributable to IDEX$1.93$1.74$0.19 11%$3.54$3.00$0.54 18%
Net Sales

Net sales for the three and six months ended June 30, 2026 increased as compared to the same prior year periods primarily as a result of increased organic sales, as well as favorable impacts from foreign currency and contributions from acquisitions. Organic sales for the same periods both increased 5%, primarily driven by higher volumes in the HST segment, which were partially offset by lower volumes in the Company’s Fire & Safety/Diversified Products (“FSDP”) segment, while volumes in the Company’s Fluid & Metering Technologies (“FMT”) segment were reasonably flat in both periods. The increase in both periods also reflects positive price. Net sales for the three and six months ended June 30, 2026 included a $14.7 million reduction resulting from expected customer rebates associated with IEEPA tariff refunds.

Gross Profit and Gross Margin

Gross profit and Gross margin for the three and six months ended June 30, 2026 were positively impacted by volume leverage, net operational productivity improvements and positive price/cost. Positive price/cost was driven by the net benefit of IEEPA tariff refunds of $7.3 million, which benefited Gross margin for the three and six months ended June 30, 2026 by 150 basis points and 70 basis points, respectively, and more than offset a challenging prior year price/cost comparison. These improvements were partially offset by unfavorable mix. Gross profit for the three and six months ended June 30, 2026 also reflected favorable impacts from foreign currency.

Selling, General and Administrative Expenses

Selling, general and administrative expenses increased for the three and six months ended June 30, 2026, reflecting a $2.8 million and $5.5 million increase from acquisitions, including amortization, respectively, as well as higher employee-related costs, including variable compensation, and increased professional services spending, partially offset by proceeds received related to legal settlements, as compared to the same prior year periods.

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Restructuring Expenses and Asset Impairments

Restructuring expenses and asset impairments for the three months ended June 30, 2026 primarily relate to severance costs that were incurred as a result of employee reductions. The six months ended June 30, 2026 also include asset impairments of $4.8 million related to intangible assets and property, plant and equipment within the Company’s FMT segment. Restructuring expenses and asset impairments for the three and six months ended June 30, 2025 primarily relate to severance costs that were incurred in conjunction with organizational changes.

Other (Income) Expense – Net

Other (income) expense – net during the three and six months ended June 30, 2026 reflects the impact of foreign currency transaction gains, while the three and six months ended June 30, 2025 reflects the impact of foreign currency transaction losses.

Interest Expense – Net

Interest expense – net for the three and six months ended June 30, 2026 decreased due to interest income of $0.6 million associated with IEEPA tariff refunds received.

Income Taxes

The effective tax rate was 23.0% and 23.3% for the three and six months ended June 30, 2026, respectively, reasonably consistent with 22.9% and 23.1% during the respective same periods in 2025. For additional information, refer to Note 15, “Income Taxes”, in the Notes to Condensed Consolidated Financial Statements.


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Results of Reportable Business Segments

The Company has three reportable segments: Health & Science Technologies (“HST”), Fluid & Metering Technologies (“FMT”) and Fire & Safety/Diversified Products (“FSDP”). For a detailed description of the operations within each segment, refer to Note 13, “Business Segments and Geographic Information,” in the Notes to Consolidated Financial Statements in the Company’s Annual Report on Form 10-K for the year ended December 31, 2025. Management’s measurements of segment performance are Net sales, Adjusted EBITDA and Adjusted EBITDA margin. See the section below titled “Non-GAAP Disclosures” for definitions of Adjusted EBITDA and Adjusted EBITDA margin.

The table below illustrates the share of Net sales and Adjusted EBITDA contributed by each segment on the basis of total segments (not total Company) for the three and six months ended June 30, 2026.

Three Months Ended June 30, 2026Six Months Ended June 30, 2026
HSTFMTFSDPTotalHSTFMTFSDPTotal
Net sales as a percent of total45%34%21%100%45%34%21%100%
Adjusted EBITDA(1)
42%39%19%100%41%39%20%100%

(1) Segment Adjusted EBITDA excludes the impact of unallocated corporate costs of $26.2 million and $56.3 million for the three and six months ended June 30, 2026, respectively.

Health & Science Technologies Segment

Three Months Ended June 30,Components of Change
(In millions)20262025ChangeOrganic
Acq/Div(1)
Foreign CurrencyTotal
Domestic sales$186.0$166.312%
International sales229.0199.015%
Net sales$415.0$365.314%12%2%—%14%
Adjusted EBITDA119.395.026%25%—%1%26%
Adjusted EBITDA margin28.7%26.0%270 bps310 bps(40) bps— bps270 bps

Six Months Ended June 30,Components of Change
(In millions)20262025ChangeOrganic
Acq/Div(1)
Foreign CurrencyTotal
Domestic sales$371.7$321.416%
International sales441.7385.415%
Net sales$813.4$706.815%11%2%2%15%
Adjusted EBITDA225.3182.424%22%—%2%24%
Adjusted EBITDA margin27.7%25.8%190 bps240 bps(50) bps— bps190 bps

(1) Acquisitions include Micro-LAM, Inc. acquired in July 2025.

•Organic sales for the three and six months ended June 30, 2026 reflect higher volumes primarily due to AI-driven demand for data center power and semiconductor markets, as well as strength in space and defense and positive price. Net sales for both the three and six months ended June 30, 2026 included a $9.3 million reduction resulting from expected customer rebates associated with IEEPA tariff refunds, which unfavorably impacted organic sales growth by 2% for both periods.

•Adjusted EBITDA margin for the three and six months ended June 30, 2026 increased primarily due to volume leverage. Higher variable compensation and the impact of acquisitions more than offset positive price/cost. Positive price/cost was driven by the net impact from IEEPA tariff refunds, which benefited Adjusted EBITDA margin for the three and six months ended June 30, 2026 by 90 basis points and 50 basis points, respectively. While mix had a
29




favorable impact on Adjusted EBITDA margin for the three months ended June 30, 2026, mix negatively impacted Adjusted EBITDA margin for the six months ended June 30, 2026.

Fluid & Metering Technologies Segment

Three Months Ended June 30,Components of Change
(In millions)20262025ChangeOrganic
Acq/Div(1)
Foreign CurrencyTotal
Domestic sales$183.7$175.75%
International sales133.4135.2(1%)
Net sales$317.1$310.92%1%—%1%2%
Adjusted EBITDA110.3108.71%1%—%—%1%
Adjusted EBITDA margin34.8%35.0%(20) bps(20) bps— bps— bps(20) bps

Six Months Ended June 30,Components of Change
(In millions)20262025ChangeOrganicAcq/DivForeign CurrencyTotal
Domestic sales$359.4$344.54%
International sales259.2256.91%
Net sales$618.6$601.43%2%—%1%3%
Adjusted EBITDA209.0204.02%1%—%1%2%
Adjusted EBITDA margin33.8%33.9%(10) bps(10) bps— bps— bps(10) bps

•Organic sales for the three and six months ended June 30, 2026 reflect positive price. Volumes in both periods were reasonably flat with higher volumes in the Company’s businesses serving municipal water, semiconductor and mining markets offset by lower volumes in the Company’s businesses serving the energy, agriculture and chemical markets. Net sales for both for the three and six months ended June 30, 2026 included a $3.2 million reduction resulting from expected customer rebates associated with IEEPA tariff refunds, which unfavorably impacted organic sales growth by 2% for the three months ended June 30, 2026, but only had a minimal impact for the six months ended June 30, 2026.

•Adjusted EBITDA margin for the three and six months ended June 30, 2026 decreased due to unfavorable mix and higher variable compensation, the impacts of which were mostly mitigated by net productivity improvements and positive price/cost. Positive price/cost was driven by the net impact from IEEPA tariff refunds, which benefited Adjusted EBITDA margin for the three and six months ended June 30, 2026 by 180 basis points and 90 basis points, respectively, more than offsetting a challenging prior year price/cost comparison.

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Fire & Safety/Diversified Products Segment

Three Months Ended June 30,Components of Change
(In millions)20262025ChangeOrganicAcq/DivForeign CurrencyTotal
Domestic sales$97.4$93.84%
International sales92.597.7(5%)
Net sales$189.9$191.5(1%)(1%)—%—%(1%)
Adjusted EBITDA54.956.4(3%)(3%)—%—%(3%)
Adjusted EBITDA margin28.9%29.4%(50) bps(40) bps— bps(10) bps(50) bps
Six Months Ended June 30,Components of Change
(In millions)20262025ChangeOrganicAcq/DivForeign CurrencyTotal
Domestic sales$193.1$189.32%
International sales185.1186.5(1%)
Net sales$378.2$375.81%(1%)—%2%1%
Adjusted EBITDA110.7110.6—%(1%)—%1%—%
Adjusted EBITDA margin29.3%29.4%(10) bps(10) bps— bps— bps(10) bps

•Organic sales for the three and six months ended June 30, 2026 reflect higher volumes in the Company’s BAND-IT business and positive price, which was more than offset by lower volumes in other FSDP businesses, resulting from the Company’s Fire & Safety businesses, driven by lower European rescue demand during the three months ended June 30, 2026 and the Company’s Dispensing businesses during six months ended June 30, 2026. Net sales also included a $2.2 million reduction resulting from expected customer rebates associated with IEEPA tariff refunds, which unfavorably impacted organic sales growth for both the three and six months ended June 30, 2026 by 1%.

•Adjusted EBITDA margin decreased for the three and six months ended June 30, 2026 primarily due to unfavorable mix and volume deleverage, partially offset by net productivity improvements and positive price/cost. Positive price/cost was driven by the net impact from IEEPA tariff refunds, which benefited Adjusted EBITDA margin for the three and six months ended June 30, 2026 by 120 basis points and 60 basis points, respectively, more than offsetting a challenging prior year price/cost comparison.

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Liquidity and Capital Resources

Liquidity

Based on management’s current expectations and currently available information, the Company believes current cash, cash from operations and cash available under the Revolving Facility will be sufficient to meet its cash requirements, including funding of working capital, planned capital expenditures, interest and principal payments on all borrowings, pension and postretirement funding requirements, share repurchases and quarterly dividend payments to holders of the Company’s common stock for the foreseeable future. Additionally, in the event that suitable businesses are available for acquisition upon acceptable terms, the Company may obtain all or a portion of the financing for these acquisitions through the incurrence of additional borrowings. The Company believes that additional borrowings through various financing alternatives remain available, if required.

Select key liquidity metrics at June 30, 2026 are as follows:

(In millions)June 30, 2026
Working capital$1,191.7 
Current ratio3 to 1
Cash and cash equivalents$621.3 
Cash held outside of the United States514.0 
Revolving Facility capacity$800.0 
Borrowings266.3 
Letters of credit4.1 
Revolving Facility availability$529.6 

Operating Working Capital

Operating working capital, calculated as Receivables – net plus Inventories – net minus Trade accounts payable, is used by management as a measurement of operational results as well as the short-term liquidity of the Company. The following table details Operating working capital as of June 30, 2026 and December 31, 2025:

(In millions)June 30, 2026December 31, 2025ChangeOrganic Change
Receivables – net$547.8 $521.7 $26.1 $30.8 
Inventories – net520.3 479.440.945.8 
Less: Trade accounts payable233.7 224.7 9.0 11.1 
Operating working capital$834.4 $776.4 $58.0 $65.5 

Acquisitions and foreign currency translation decreased Operating working capital by $7.5 million during the six months ended June 30, 2026. Apart from these items, the primary drivers of the change in Operating working capital were higher sales volumes and positive price leading to higher receivables and higher inventories, which increased to support planned production. The increase in Operating working capital was partly offset by expected customer rebates associated with IEEPA tariff refunds.

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Cash Flow Summary

The following table is derived from the Condensed Consolidated Statements of Cash Flows:

Six Months Ended June 30,
(In millions)20262025Change
Net cash flows provided by (used in):
Operating activities$303.7 $267.4 $36.3 
Investing activities(42.7)(24.5)(18.2)
Financing activities(208.1)(349.2)141.1 

Operating Activities

Cash provided by operating activities increased $36.3 million in the six months ended June 30, 2026 as compared to the prior year period. Improved operational results and cash received for IEEPA tariff refunds of $21.1 million was partially offset by higher operating working capital discussed above.

Investing Activities

Cash used in investing activities increased $18.2 million in the six months ended June 30, 2026 as compared to the prior year period reflecting a $11.6 million increase in capital expenditures and the absence of $4.2 million of funds received in connection with the finalization of the Mott purchase price in the prior year period.

Financing Activities

Cash used in financing activities decreased $141.1 million in the six months ended June 30, 2026 as compared to the prior year period. The six months ended June 30, 2026 included $84.4 million of higher net draws under the Revolving Facility and $10.8 million of higher proceeds from stock option exercises, net of shares withheld for taxes, partially offset by $53.4 million of higher share repurchases. The six months ended June 30, 2025 also included a $100.0 million payment on long-term borrowings that did not reoccur in the current year period.

Free Cash Flow

The Company believes free cash flow, a non-GAAP measure, is an important measure of performance because it provides a measurement of cash generated from operations that is available for payment obligations such as operating cash requirements, planned capital expenditures, interest and principal payments on all borrowings, pension and postretirement funding requirements and quarterly dividend payments to holders of the Company’s common stock as well as for funding acquisitions and share repurchases. Free cash flow is calculated as cash flows provided by operating activities less capital expenditures.

The following table reconciles cash flows provided by operating activities to free cash flow:

Six Months Ended June 30,
(In millions)
20262025
Cash flows provided by operating activities$303.7 $267.4 
Less: capital expenditures 40.7 29.1 
Free cash flow$263.0 $238.3 

Cash Requirements

Subsequent Share Repurchases

Subsequent to June 30, 2026, the Company repurchased 0.1 million shares at a cost of $21.7 million.

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Capital Expenditures

Capital expenditures generally include machinery and equipment that support growth and improved productivity, tooling, business system technology, replacement of equipment and investments in new facilities. The Company believes it has sufficient operating cash flows to continue to meet current obligations and invest in planned capital expenditures. Cash flows from operations were more than adequate to fund capital expenditures of $40.7 million and $29.1 million in the first six months of 2026 and 2025, respectively.

Share Repurchases

During the six months ended June 30, 2026, the Company paid $153.4 million for share repurchases, comprised of $148.9 million for shares repurchased and settled during the period, $2.2 million for shares repurchased in December 2025 that settled in January 2026 and $2.3 million of excise taxes for shares repurchased in 2025. During the six months ended June 30, 2025, the Company paid $100.0 million for shares repurchased and settled during the period. As of June 30, 2026, the amount of share repurchase authorization remaining was $774.7 million, excluding fees, commissions, excise taxes and other expenses related to such common stock repurchases. For additional information regarding the Company’s share repurchase program, refer to Note 11, “Share Repurchases,” in the Notes to Condensed Consolidated Financial Statements.

Dividends

Total dividend payments to common shareholders were $106.7 million during the six months ended June 30, 2026 compared with $105.9 million during the six months ended June 30, 2025.

Covenants

At June 30, 2026, 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. The key financial covenants that the Company is required to maintain in connection with the Revolving Facility and the 5.13% Senior Notes, are a minimum interest coverage ratio of 3.0 to 1 and a maximum leverage ratio of 3.50 to 1. At June 30, 2026, the Company’s interest coverage ratio was 14.17 to 1 for covenant calculation purposes and the leverage ratio was 1.87 to 1. There are no financial covenants relating to the 2.625% Senior Notes, the 3.00% Senior Notes or the 4.950% Senior Notes; however, all are subject to cross-acceleration provisions.

Credit Ratings

The Company’s credit ratings, which were independently developed by the following credit agencies, are detailed below:

•S&P Global Ratings reaffirmed the Company’s corporate credit rating of BBB (stable outlook) in September 2024.

•Moody’s Investors Service affirmed the Company’s corporate credit rating of Baa2 (stable outlook) in August 2024.

•Fitch Ratings reaffirmed the Company’s corporate credit rating of BBB+ (stable outlook) in February 2026.

Off-Balance Sheet Arrangements

The Company had $27.9 million of letters of credit as of June 30, 2026, primarily issued as security for insurance and other performance obligations. Of the $27.9 million of letters of credit, only $4.1 million reduced the Company’s borrowing capacity under the Revolving Facility as of June 30, 2026.

Except as disclosed above, the Company has no off-balance sheet arrangements that currently have or are reasonably likely to have a material effect on the Company’s consolidated financial condition, changes in financial condition, results of operations, liquidity, capital expenditures or capital resources.

Critical Accounting Estimates

There have been no changes to the Company’s critical accounting estimates described in the Company’s Annual Report on Form 10-K for the year ended December 31, 2025.

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Non-GAAP Disclosures

The Company prepares its financial statements in accordance with U.S. GAAP. To supplement its U.S. GAAP financial results, the Company presents certain non-GAAP financial measures. Management uses these non-GAAP measures to evaluate operating performance, assess trends, allocate resources and support financial and operational decision-making. Management believes these measures provide investors with additional insight into the Company’s ongoing business performance and enhance comparability across reporting periods by excluding the impact of items that management does not consider reflective of ongoing operations.

Management uses Adjusted EBITDA as its measure of segment performance. Management believes it is a useful indicator of the strength and performance of the Company and its segments’ ongoing business operations as well as a way for investors to evaluate and compare operating performance and value companies within the Company’s industry. Management believes that Adjusted EBITDA margin is useful for the same reason as Adjusted EBITDA. The definition of Adjusted EBITDA used here may differ from that used by other companies.

The Company defines its non-GAAP measures below and presents reconciliations of these non-GAAP measures to their most directly comparable U.S. GAAP measures in the tables that follow. There were no adjustments to U.S. GAAP financial performance metrics other than the items noted below.

•Organic sales are calculated as Net sales excluding amounts from acquired or divested businesses during the first twelve months of ownership or prior to divestiture and excluding the impact of foreign currency translation.
•Adjusted gross profit is calculated as Gross profit, adjusted to exclude the impact of fair value inventory step-up charges and restructuring-related charges.
•Adjusted gross margin is calculated as Adjusted gross profit divided by Net sales.
•Adjusted net income attributable to IDEX is calculated as Net income attributable to IDEX, adjusted to exclude the impact of Restructuring expenses and asset impairments and other restructuring-related charges, acquisition-related intangible asset amortization and legal settlements and contingencies, all net of the statutory tax expense or benefit.
•Adjusted diluted EPS attributable to IDEX is calculated as Adjusted net income attributable to IDEX divided by the diluted weighted average shares outstanding.
•Consolidated Adjusted EBITDA is calculated as consolidated earnings before interest expense - net, income taxes, depreciation and amortization, or consolidated EBITDA, adjusted to exclude the impact of Restructuring expenses and asset impairments and other restructuring-related charges and legal settlements and contingencies.
•Consolidated Adjusted EBITDA margin is calculated as Consolidated Adjusted EBITDA divided by Net sales.
•Free cash flow is calculated as cash flows from operating activities less capital expenditures. This non-GAAP measure is discussed and reconciled to its most directly comparable U.S. GAAP measure in the section above titled “Free Cash Flow.”

The non-GAAP financial measures should be considered in addition to, and not as a substitute for or superior to, financial measures prepared in accordance with U.S. GAAP and the reconciliations from those results should be carefully evaluated. Due to rounding, numbers presented throughout this and other documents may not add up or recalculate precisely.



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Table 1. Reconciliations of the Change in Net Sales to Change in Organic Sales
HSTFMTFSDPIDEX
Three Months Ended June 30, 2026
Change in net sales14%2%(1%)6%
Less:
Net impact from acquisitions/divestitures(1)
2%—%—%1%
Impact from foreign currency(2)
—%1%—%—%
Change in organic sales12%1%(1%)5%
Six Months Ended June 30, 2026
Change in net sales15%3%1%8%
Less:
Net impact from acquisitions/divestitures(1)
2%—%—%1%
Impact from foreign currency(2)
2%1%2%2%
Change in organic sales
11%2%(1%)5%

(1) Represents the sales from acquired or divested businesses during the first 12 months of ownership or prior to divestiture.
(2) The portion of sales attributable to foreign currency translation is calculated as the difference between (a) the period-to-period change in organic sales, and (b) the period-to-period change in organic sales after applying prior period foreign exchange rates to the current year period.

Table 2. Reconciliations of Reported-to-Adjusted Gross Profit and Gross Margin (in millions)
Three Months Ended June 30,Six Months Ended June 30,
2026202520262025
Gross profit$426.8$392.2$824.9$761.1
Restructuring-related charges(1)
0.5—0.5—
Adjusted gross profit$427.3$392.2$825.4$761.1
Net sales$920.6$865.4$1,807.5$1,679.7
Gross margin46.3%45.3%45.6%45.3%
Adjusted gross margin46.4%45.3%45.7%45.3%

(1) Restructuring-related charges represent accelerated depreciation related to the anticipated closure of a facility in the HST segment.

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Table 3. Reconciliations of Reported-to-Adjusted Net Income Attributable to IDEX and Diluted EPS Attributable to IDEX (in millions, except for per share amounts)
Three Months Ended June 30,Six Months Ended June 30,
2026202520262025
Reported net income attributable to IDEX$143.4 $131.6 $263.4 $227.1 
Restructuring expenses and asset impairments and other restructuring-related charges(1)
3.3 0.4 10.7 17.9 
Tax impact on restructuring expenses and asset impairments and other restructuring-related charges(0.8)(0.2)(2.5)(4.3)
Legal settlements and contingencies(2)
0.9 — (2.8)— 
Tax impact on legal settlements and contingencies0.3 — 1.1 — 
Acquisition-related intangible asset amortization33.2 32.0 67.0 63.5 
Tax impact on acquisition-related intangible asset amortization(7.9)(7.3)(15.9)(14.7)
Adjusted net income attributable to IDEX$172.4 $156.5 $321.0 $289.5 
Reported diluted EPS attributable to IDEX$1.93 $1.74 $3.54 $3.00 
Restructuring expenses and asset impairments and other restructuring-related charges(1)
0.05 0.01 0.15 0.24 
Tax impact on restructuring expenses and asset impairments and other restructuring-related charges(0.01)— (0.03)(0.06)
Legal settlements and contingencies(2)
0.01 — (0.04)— 
Tax impact on legal settlements and contingencies— — 0.01 — 
Acquisition-related intangible asset amortization0.45 0.42 0.90 0.83 
Tax impact on acquisition-related intangible asset amortization(0.11)(0.10)(0.21)(0.19)
Adjusted diluted EPS attributable to IDEX$2.32 $2.07 $4.32 $3.82 
Diluted weighted average shares outstanding74.2 75.5 74.3 75.7 

(1) Restructuring expenses and asset impairments and other restructuring-related charges consist of the following:

Three Months Ended June 30,Six Months Ended June 30,
2026202520262025
Restructuring expenses and asset impairments$2.8 $0.7 $10.2 $18.2 
Less: Restructuring expenses and asset impairments attributable to noncontrolling interest(a)
— (0.3)— (0.3)
Other restructuring-related charges(b)
0.5— 0.5— 
Restructuring expenses and asset impairments and other restructuring-related charges$3.3 $0.4 $10.7 $17.9 

(a) Restructuring expenses and asset impairments recorded during the three and six months ended June 30, 2025, respectively, included charges of $0.6 million recognized by the Company’s joint venture, $0.3 million of which was attributable to noncontrolling interest.

(b) Other restructuring-related charges represent accelerated depreciation related to the anticipated closure of a facility in the HST segment.

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



37




Table 4. Reconciliations of Net Income to Adjusted EBITDA (in millions)
Three Months Ended June 30,Six Months Ended June 30,
2026202520262025
Reported net income$143.4$131.1$263.3$226.5
Provision for income taxes42.738.879.867.9
Interest expense – net15.115.631.131.7
Depreciation(1)
20.219.040.137.4
Amortization33.232.067.063.5
Restructuring expenses and asset impairments2.80.710.218.2
Legal settlements and contingencies(2)
0.9—(2.8)—
Adjusted EBITDA$258.3$237.2$488.7$445.2
Adjusted EBITDA Components
HST$119.3$95.0$225.3$182.4
FMT110.3108.7209.0204.0
FSDP54.956.4110.7110.6
Corporate and other(26.2)(22.9)(56.3)(51.8)
Total Adjusted EBITDA$258.3$237.2$488.7$445.2
Net sales$920.6$865.4$1,807.5$1,679.7
Net income margin15.6%15.1%14.6%13.5%
Adjusted EBITDA margin28.1%27.4%27.0%26.5%


(1) Depreciation includes accelerated depreciation related to the anticipated closure of a facility in the HST segment, which was included in Restructuring-related charges in Table 2 and in Restructuring expenses and asset impairments and other restructuring-related charges in Table 3 above.

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





38




Item 3.    Quantitative and Qualitative Disclosures About Market Risk

There have been no material changes with respect to market risks disclosed in the Company’s Annual Report on Form 10-K for the year ended December 31, 2025.

Item 4.    Controls and Procedures

The Company maintains disclosure controls and procedures that are designed to ensure that information required to be disclosed in the Company’s Exchange Act reports is recorded, processed, summarized and reported within the time periods specified in the SEC’s rules and forms, and that such information is accumulated and communicated to the Company’s management, including its Chief Executive Officer and Chief Financial Officer, as appropriate, to allow timely decisions regarding required disclosure.

As required by SEC Rule 13a-15(b), the Company carried out an evaluation, under the supervision and with the participation of the Company’s management, including the Company’s Chief Executive Officer and Chief Financial Officer, of the effectiveness of the design and operation of the Company’s disclosure controls and procedures as of the end of the period covered by this report. Based on the foregoing, the Company’s Chief Executive Officer and Chief Financial Officer concluded that the Company’s disclosure controls and procedures were effective as of June 30, 2026.

There has been no change in the Company’s internal control over financial reporting during the Company’s most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the Company’s internal control over financial reporting.

39




PART II. OTHER INFORMATION
 
Item 1.    Legal Proceedings

The Company and its subsidiaries are party to legal proceedings incidental to the operation of their businesses as described in Note 14 in Part I, Item 1, “Commitments and Contingencies,” in the Notes to Condensed Consolidated Financial Statements and such disclosure is incorporated by reference into this Item 1. “Legal Proceedings.”

The Company’s threshold for disclosing material environmental legal proceedings involving a government authority where potential monetary sanctions are involved is $1.0 million.

In addition, the Company and eight of its subsidiaries are presently named as defendants in a number of lawsuits claiming various asbestos-related personal injuries, allegedly as a result of exposure to products manufactured with components that contained asbestos. These components were acquired from third-party suppliers and were not manufactured by the Company or any of the defendant subsidiaries. To date, the majority of the Company’s settlements and legal costs, except for costs of coordination, administration, insurance investigation and a portion of defense costs, have been covered in full by insurance, subject to applicable deductibles. However, the Company cannot predict whether and to what extent insurance will be available to continue to cover these settlements and legal costs, or how insurers may respond to claims that are tendered to them. Asbestos-related claims have been filed in jurisdictions throughout the United States and the United Kingdom. Most of the claims resolved to date have been dismissed without payment. The balance of the claims has been settled for various immaterial amounts. Only one case has been tried, resulting in a verdict for the Company’s business unit. No provision has been made in the financial statements of the Company, other than for insurance deductibles in the ordinary course, and the Company does not currently believe the asbestos-related claims will have a material adverse effect on the Company’s business, financial position, results of operations or cash flows.

Item 1A. Risk Factors

There have been no material changes with respect to risk factors disclosed in the Company’s Annual Report on Form 10-K for the year ended December 31, 2025.

Item 2.     Unregistered Sales of Equity Securities and Use of Proceeds

The following table provides information about the Company’s purchases of its common stock during the quarter ended June 30, 2026:
PeriodTotal Number of
Shares Purchased
Average Price
Paid per Share(1)
Total Number of
Shares Purchased as
Part of Publicly
Announced Plans
or Programs
Approximate Dollar
Value that May Yet
be Purchased
Under the Plans
or Programs(2)
April 1, 2026 to April 30, 2026121,708 $202.91 121,708 $824,993,120 
May 1, 2026 to May 31, 2026112,969 211.55 112,969 801,094,061 
June 1, 2026 to June 30, 2026119,746 220.50 119,746 774,689,676 
Total354,423 $211.61 354,423 $774,689,676 

(1)Excludes commissions and the 1% excise tax imposed by the Inflation Reduction Act of 2022.
(2)On September 17, 2025, the Company’s Board of Directors authorized the repurchase of an additional $635.0 million of the Company’s common shares. This approval is in addition to the prior repurchase authorization of the Company’s Board of Directors of $500.0 million on March 17, 2020. These authorizations have no expiration date and exclude fees, commissions, excise taxes and other expenses related to such common stock repurchases.

Item 5.    Other Information

Rule 10b5-1 Trading Plans

During the quarter ended June 30, 2026, none of the Company’s directors or executive officers adopted or terminated any contract, instruction or written plan for the purchase or sale of Company securities that was intended to satisfy the affirmative defense conditions of Rule 10b5-1(c) or any “non-Rule 10b5-1 trading arrangement” as defined in Item 408 of Regulation S-K under the Securities Exchange Act of 1934, as amended.
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Table of Contents




Item 6.    Exhibits

Exhibit
Number		Description
31.1*
Certification of Chief Executive Officer Pursuant to Section 302 of Sarbanes Oxley Act of 2002
31.2*
Certification of Chief Financial Officer Pursuant to Section 302 of Sarbanes Oxley Act of 2002
32.1*
Certification of Chief Executive Officer Pursuant to 18 U.S.C. Section 1350
32.2*
Certification of Chief Financial Officer Pursuant to 18 U.S.C. Section 1350
101*The following financial information from IDEX Corporation's Quarterly Report on Form 10-Q for the quarter ended June 30, 2026 formatted in Inline eXtensible Business Reporting Language (iXBRL) includes: (i) the Cover Page, (ii) the Condensed Consolidated Statements of Income, (iii) the Condensed Consolidated Statements of Comprehensive Income, (iv) the Condensed Consolidated Balance Sheets, (v) the Condensed Consolidated Statements of Equity, (vi) the Condensed Consolidated Statements of Cash Flows, and (vii) Notes to Condensed Consolidated Financial Statements
104*
Cover Page Interactive Data File (formatted as Inline XBRL and contained in Exhibit 101)
* Filed herewith.

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SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
 
IDEX Corporation
By:/s/    SEAN M. GILLEN
Sean M. Gillen
Senior Vice President and Chief Financial Officer
Date: July 29, 2026
42

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