Foreign tax credit carryover for U.S. federal purposes

  
is available to be carried forward indefinitely. The U.S. state net operating loss will expire between 2033 and 2040. There is no valuation allowance as it is more-likely-than-not that the net operating losses will be realized.  
The Company has U.S. federal, U.S. state and non-U.S. capital loss carryforwards of $11.9 million, $11.9 million and $13.5 million, respectively, with a full valuation allowance against the deferred tax asset. The non-U.S. capital loss can be carried forward indefinitely. The U.S. federal and U.S. state capital loss carryforwards will expire at various dates between 2025 and 2040.  
As of December 31, 2021, the Company has a foreign tax credit carryforward for U.S. federal purposes of approximately $6.6 million with a full valuation allowance against the deferred tax asset. The U.S. federal foreign tax credit carryover will expire between 2029 and 2031.   
14.    Business Segments and Geographic Information  
IDEX has three reportable business segments: FMT, HST and FSDP.  
The FMT segment designs, produces and distributes positive displacement pumps, valves, small volume provers, flow meters, injectors and other fluid-handling pump modules and systems and provides flow monitoring and other services for the food, chemical, general industrial, water and wastewater, agriculture and energy industries.   
The HST segment designs, produces and distributes a wide range of precision fluidics, rotary lobe pumps, centrifugal and positive displacement pumps, roll compaction and drying systems, pneumatic components and sealing solutions, high performance molded and extruded sealing components, custom mechanical and shaft seals, engineered hygienic mixers and valves, biocompatible medical devices and implantables, air compressors and blowers, optical components and coatings, laboratory and commercial equipment, precision photonic solutions and precision gear and peristaltic pump technologies. HST serves a variety of end markets, including food and beverage, pharmaceutical and biopharmaceutical, cosmetics, marine, chemical, wastewater and water treatment, life sciences, research and defense markets.   
The FSDP segment designs, produces and distributes firefighting pumps, valves and controls, rescue tools, lifting bags, other components and systems for the fire and rescue industry, engineered stainless steel banding and clamping devices used in a variety of industrial and commercial applications and precision equipment for dispensing, metering and mixing colorants and paints used in a variety of retail and commercial businesses around the world.   
Information on the Company’s business segments is presented below based on the nature of the products and services offered. The Company evaluates performance based on several factors, of which sales, operating income and operating margin are the primary financial measures. Intersegment sales are accounted for at fair value as if the sales were to third parties.67
