IDEX changes segment profit measure from operating income to Adjusted EBITDA effective Q4 2022

IDEX CORP /DE/

New measure is Adjusted EBITDA, defined as EBITDA before certain non-recurring items; effective quarter ending Dec 31, 2022.
Change aligns with how CODM allocates resources and evaluates business performance, per ASC 280.
Does not revise any previously reported consolidated financial statements; restated segment data for 2021 and 2022 furnished in Exhibit 99.1.
Adjusted EBITDA adjustments include fair value step-up, restructuring, asset impairments, pension termination, and COVID-19 testing exit.

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