IDEX CORP /DE/
For the period ended Mar 31, 2026. Filed Apr 29, 2026.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2026 · Filed Apr 29, 2026
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Condensed Consolidated Statements of Cash Flows
(In millions)
| Three Months Ended March 31, | ||
|---|---|---|
| 2026 | 2025 | |
| Cash flows from operating activities | ||
| Net income | $119.9 | $95.4 |
| Adjustments to reconcile net income to net cash flows provided by operating activities: | ||
| Asset impairments | 4.8 | — |
| Depreciation | 19.9 | 18.4 |
| Amortization of intangible assets | 33.8 | 31.5 |
| Share-based compensation expense | 15.8 | 13.6 |
| Deferred income taxes | (0.6) | 0.9 |
| Changes in (net of the effect from acquisitions/divestitures and foreign currency translation): | ||
| Receivables – net | (35.4) | (12.3) |
| Inventories – net | (25.5) | (34.9) |
| Other current assets | (15.1) | (7.0) |
| Trade accounts payable | 0.6 | 9.6 |
| Deferred revenue | 4.2 | 8.8 |
| Accrued expenses | (18.8) | (17.9) |
| Other – net | 0.1 | (0.4) |
| Net cash flows provided by operating activities | 103.7 | 105.7 |
| Cash flows from investing activities | ||
| Capital expenditures | (17.7) | (14.3) |
| Acquisition of business, net of cash acquired | — | 4.2 |
| Other – net | (2.7) | 0.1 |
| Net cash flows used in investing activities | (20.4) | (10.0) |
| Cash flows from financing activities | ||
| Borrowings under revolving credit facilities | 100.0 | — |
| Payments under revolving credit facilities | (45.3) | (30.2) |
| Cash dividends paid to shareholders | (52.8) | (52.4) |
| Proceeds (payments) from share issuances, net of shares withheld for taxes | 5.8 | (0.5) |
| Repurchases of common stock | (76.3) | (50.0) |
| Other – net | (0.2) | (0.2) |
| Net cash flows used in financing activities | (68.8) | (133.3) |
| Effect of exchange rate changes on cash and cash equivalents | (8.6) | 10.9 |
| Net increase (decrease) in cash and cash equivalents and restricted cash | 5.9 | (26.7) |
| Cash and cash equivalents and restricted cash at beginning of year(1) | 585.9 | 638.9 |
| Cash and cash equivalents and restricted cash at end of period(1) | $591.8 | $612.2 |
| Supplemental cash flow information | ||
| Cash paid for: | ||
| Interest | $15.1 | $15.6 |
| Income taxes – net | 19.7 | 19.8 |
(1) The Company has restricted cash related to certain letters of credit and is required to keep these balances in separate accounts for the duration of the letter of credit agreements. The underlying letters of credit expire between June 2026 and July 2027. The Company also has restricted cash related to funds held in escrow for the payment of certain merger consideration in connection with the acquisition of Micro-LAM, Inc. These payments are expected to be paid between July 2026 and January 2028. Restricted cash is included in the Condensed Consolidated Balance Sheets as follows:
| Restricted Cash | ||||
|---|---|---|---|---|
| March 31, 2026 | December 31, 2025 | March 31, 2025 | December 31, 2024 | |
| Other current assets | $2.7 | $3.0 | $16.5 | $18.1 |
| Other noncurrent assets | 2.9 | 2.9 | 1.6 | — |
| Total | $5.6 | $5.9 | $18.1 | $18.1 |
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