IDEX CORP /DE/
For the period ended Dec 31, 2025. Filed Feb 19, 2026.
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FY2025 · Filed Feb 19, 2026
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Item 8. Consolidated Statements of Cash Flows
CONSOLIDATED STATEMENTS OF CASH FLOWS
(In millions)
| For the Year Ended December 31, | |||
|---|---|---|---|
| 2025 | 2024 | 2023 | |
| Cash flows from operating activities | |||
| Net income | $482.5 | $504.6 | $595.6 |
| Adjustments to reconcile net income to net cash flows provided by operating activities: | |||
| Gain on sale of businesses – net | — | (4.0) | (84.7) |
| Asset impairments | 0.7 | 0.1 | 0.8 |
| Credit loss on note receivable from collaborative partner | — | — | 7.7 |
| Depreciation | 75.8 | 68.5 | 57.2 |
| Amortization of intangible assets | 130.7 | 107.1 | 94.9 |
| Share-based compensation expense | 27.3 | 25.8 | 21.8 |
| Deferred income taxes | 12.8 | (19.4) | (14.7) |
| Changes in (net of the effect from acquisitions/divestitures and foreign currency translation): | |||
| Receivables – net | (41.2) | (16.9) | 20.5 |
| Inventories – net | (34.2) | 17.6 | 66.2 |
| Other current assets | 1.6 | (0.1) | (6.5) |
| Trade accounts payable | 15.2 | 8.9 | (25.3) |
| Deferred revenue | 2.7 | (17.9) | 12.7 |
| Accrued expenses | 1.8 | (8.6) | (34.8) |
| Other – net | 4.7 | 2.4 | 5.3 |
| Net cash flows provided by operating activities | 680.4 | 668.1 | 716.7 |
| Cash flows from investing activities | |||
| Capital expenditures | (63.6) | (65.1) | (89.9) |
| Acquisition of businesses, net of cash acquired | (76.2) | (984.5) | (311.8) |
| Proceeds from sale of businesses, net of cash remitted | — | 45.1 | 118.6 |
| Purchase of marketable securities | — | — | (29.0) |
| Proceeds from sale of marketable securities | — | 4.5 | 24.8 |
| Other – net | 2.2 | (6.5) | 3.5 |
| Net cash flows used in investing activities | (137.6) | (1,006.5) | (283.8) |
| Cash flows from financing activities | |||
| Borrowings under revolving credit facilities | 252.0 | 279.3 | — |
| Payments under revolving credit facilities | (322.9) | (69.1) | — |
| Proceeds from issuance of long-term borrowings | — | 496.7 | 100.0 |
| Payment of long-term borrowings | (100.0) | (50.0) | (250.0) |
| Cash dividends paid to shareholders | (212.6) | (205.3) | (190.7) |
| (Payments) proceeds from share issuances, net of shares withheld for taxes | (0.5) | 16.7 | 21.5 |
| Repurchases of common stock | (247.8) | — | (24.2) |
| Other – net | (0.8) | (2.4) | (1.3) |
| Net cash flows (used in) provided by financing activities | (632.6) | 465.9 | (344.7) |
| Effect of exchange rate changes on cash and cash equivalents | 36.8 | (22.9) | 15.9 |
| Net (decrease) increase in cash and cash equivalents and restricted cash | (53.0) | 104.6 | 104.1 |
| Cash and cash equivalents and restricted cash at beginning of year(1) | 638.9 | 534.3 | 430.2 |
| Cash and cash equivalents and restricted cash at end of year(1) | $585.9 | $638.9 | $534.3 |
| Supplemental cash flow information | |||
| Cash paid for: | |||
| Interest | $72.2 | $47.4 | $50.8 |
| Income taxes - net | 134.6 | 171.4 | 199.5 |
(1)Includes $5.9 million and $18.1 million of restricted cash at December 31, 2025 and December 31, 2024. respectively. At December 31, 2025, $3.0 million of the restricted cash has been included in Other current assets and $2.9 million has been included in Other noncurrent assets in the Consolidated Balance Sheets. At December 31, 2024, $18.1 million was included in Other current assets in the Consolidated Balance Sheets. There wasno restricted cash as of December 31, 2023 or December 31, 2022.
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