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Segment Reporting
 12 Months Ended
Dec. 31, 2015
Segment Reporting [Abstract]  
Segment Reporting Disclosure
SEGMENT REPORTING
The Company has five reportable segments: U.S. Operations, Swiss Operations, Western European Operations, Chinese Operations, and Other. U.S. Operations represent certain of the Company’s marketing and producing organizations located in the United States. Western European Operations include the Company’s marketing and producing organizations in Western Europe, excluding operations located in Switzerland. Swiss Operations include marketing and producing organizations located in Switzerland as well as extensive R&D operations that are responsible for the development, production, and marketing of precision instruments, including weighing, analytical, and measurement technologies for use in a variety of laboratory and industrial applications. Chinese Operations represent the Company’s marketing and producing organizations located in China. The Company’s market organizations are geographically focused and are responsible for all aspects of the Company’s sales and service. Operating segments that exist outside these reportable segments are included in Other.
The accounting policies of the operating segments are the same as those described in the summary of significant accounting policies. The Company evaluates performance based on segment profit for segment reporting (gross profit less research and development and selling, general, and administrative expenses, before amortization, interest expense, restructuring charges, other charges (income), net, and taxes). Inter-segment sales and transfers are priced to reflect consideration of market conditions and the regulations of the countries in which the transferring entities are located.
The following tables show the operations of the Company’s reportable segments:
For the Year Ended December 31, 2015
 
Net Sales to
External
Customers
 
Net Sales to
Other
Segments
 
Total Net
Sales
 
Segment
Profit
 
Depreciation
 
Total Assets
 
Purchase of
Property, Plant
and Equipment
 
Goodwill
 
 
 
 
 
 
 
 
U.S. Operations
 
$
825,290

 
$
87,488

 
$
912,778

 
$
147,331

 
$
6,153

 
$
1,511,618

 
$
(7,113
)
 
$
317,856

Swiss Operations
 
134,169

 
454,429

 
588,598

 
163,243

 
6,488

 
1,137,664

 
(6,650
)
 
21,841

Western European Operations
 
623,153

 
127,479

 
750,632

 
108,539

 
4,076

 
1,018,255

 
(5,940
)
 
92,389

Chinese Operations
 
376,291

 
183,604

 
559,895

 
153,314

 
7,086

 
510,327

 
(14,770
)
 
692

Other(a)
 
436,544

 
8,087

 
444,631

 
50,454

 
2,883

 
270,236

 
(4,306
)
 
13,506

Eliminations and Corporate(b)
 
—

 
(861,087
)
 
(861,087
)
 
(90,774
)
 
6,401

 
(2,429,615
)
 
(43,727
)
 
—

Total
 
$
2,395,447

 
$
—

 
$
2,395,447

 
$
532,107

 
$
33,087

 
$
2,018,485

 
$
(82,506
)
 
$
446,284


For the Year Ended December 31, 2014
 
Net Sales to
External
Customers
 
Net Sales to
Other
Segments
 
Total Net
Sales
 
Segment
Profit (c)
 
Depreciation
 
Total Assets
 
Purchase of
Property, Plant
and Equipment
 
Goodwill
 
 
 
 
 
 
 
 
U.S. Operations
 
$
759,135

 
$
90,463

 
$
849,598

 
$
123,080

 
$
6,068

 
$
1,294,037

 
$
(6,627
)
 
$
308,861

Swiss Operations
 
138,581

 
461,171

 
599,752

 
152,090

 
6,621

 
1,018,941

 
(6,567
)
 
21,873

Western European Operations
 
708,755

 
124,349

 
833,104

 
120,580

 
4,422

 
1,061,455

 
(5,581
)
 
99,341

Chinese Operations
 
415,474

 
155,690

 
571,164

 
160,793

 
6,746

 
816,801

 
(19,793
)
 
740

Other(a)
 
464,038

 
7,527

 
471,565

 
52,461

 
2,820

 
261,036

 
(3,315
)
 
13,270

Eliminations and Corporate(b)
 
—

 
(839,200
)
 
(839,200
)
 
(102,133
)
 
6,940

 
(2,443,160
)
 
(47,505
)
 
—

Total
 
$
2,485,983

 
$
—

 
$
2,485,983

 
$
506,871

 
$
33,617

 
$
2,009,110

 
$
(89,388
)
 
$
444,085


For the Year Ended December 31, 2013
 
Net Sales to
External
Customers
 
Net Sales to
Other
Segments
 
Total Net
Sales
 
Segment
Profit (c)
 
Depreciation
 
Total Assets
 
Purchase of
Property, Plant
and Equipment
 
Goodwill
 
 
 
 
 
 
 
 
U.S. Operations
 
$
718,671

 
$
83,182

 
$
801,853

 
$
126,423

 
$
6,223

 
$
1,242,501

 
$
(6,297
)
 
$
307,933

Swiss Operations
 
132,240

 
435,904

 
568,144

 
129,158

 
6,576

 
1,090,353

 
(6,801
)
 
24,288

Western European Operations
 
674,278

 
112,049

 
786,327

 
111,951

 
4,708

 
1,059,525

 
(6,096
)
 
108,662

Chinese Operations
 
407,131

 
149,084

 
556,215

 
152,459

 
6,527

 
731,650

 
(6,200
)
 
746

Other(a)
 
446,652

 
6,308

 
452,960

 
49,673

 
2,694

 
257,141

 
(7,172
)
 
14,213

Eliminations and Corporate(b)
 
—

 
(786,527
)
 
(786,527
)
 
(96,772
)
 
8,037

 
(2,228,351
)
 
(49,783
)
 
—

Total
 
$
2,378,972

 
$
—

 
$
2,378,972

 
$
472,892

 
$
34,765

 
$
2,152,819

 
$
(82,349
)
 
$
455,842

(a)
Other includes reporting units in Eastern Europe, Latin America, Southeast Asia, and other countries.
(b)
Eliminations and Corporate includes the elimination of inter-segment transactions as well as certain corporate expenses and intercompany investments, which are not included in the Company’s operating segments.
(c)
2014 and 2013 segment profit between the U.S., Swiss, and Chinese Operations has been reclassified to conform to the current
period.
A reconciliation of earnings before taxes to segment profit follows:
 
2015
 
2014
 
2013
Earnings before taxes
$
463,424

 
$
445,004

 
$
402,709

Amortization
30,951

 
29,185

 
24,539

Interest expense
27,451

 
24,537

 
22,711

Restructuring charges
11,148

 
5,915

 
19,830

Other charges (income), net
(867
)
 
2,230

 
3,103

Segment profit
$
532,107

 
$
506,871

 
$
472,892


During 2015, restructuring charges of $11.1 million were recognized, of which $0.6 million, $2.4 million, $2.6 million, $4.7 million, and $0.8 million relate to the Company’s U.S., Swiss, Western European, Chinese, and Other Operations, respectively. Restructuring charges of $5.9 million were recognized in 2014, of which $2.0 million, $1.3 million, $0.7 million, $1.2 million, and $0.7 million relate to the Company's U.S., Swiss, Western European, Chinese, and Other Operations, respectively.
The Company sells precision instruments, including weighing instruments and certain analytical and measurement technologies, and related services to a variety of customers and industries. None of these customers account for more than 1% of net sales. Service revenues are primarily derived from repair and other services including regulatory compliance qualification, calibration, certification, and preventative maintenance.
A breakdown of the Company's sales by product category for the years ended December 31 follows:
 
2015
 
2014
 
2013
Laboratory
$
1,154,905

 
$
1,161,207

 
$
1,100,632

Industrial
1,034,310

 
1,107,606

 
1,065,605

Retail
206,232

 
217,170

 
212,735

Total net sales
$
2,395,447

 
$
2,485,983

 
$
2,378,972


In certain circumstances, our operating segments sell directly into other geographies. A breakdown of net sales to external customers by geographic customer destination and property, plant, and equipment, net for the years ended December 31 follows:
 
Net Sales
 
Property, Plant, and
Equipment, Net
 
2015
 
2014
 
2013
 
2015
 
2014
United States
$
768,815

 
$
708,293

 
$
665,365

 
$
132,255

 
$
128,125

Other Americas
157,962

 
166,150

 
167,647

 
4,120

 
4,110

Total Americas
926,777

 
874,443

 
833,012

 
136,375

 
132,235

Germany
176,491

 
204,747

 
195,521

 
29,100

 
32,984

France
110,477

 
127,363

 
122,658

 
5,174

 
5,802

United Kingdom
71,679

 
77,271

 
65,922

 
15,854

 
6,112

Switzerland
64,622

 
71,347

 
74,574

 
233,763

 
235,593

Other Europe
349,178

 
398,645

 
377,353

 
6,158

 
6,983

Total Europe
772,447

 
879,373

 
836,028

 
290,049

 
287,474

China
362,950

 
404,293

 
396,620

 
82,528

 
83,412

Rest of World
333,273

 
327,874

 
313,312

 
8,277

 
8,341

Total Asia/Rest of World
696,223

 
732,167

 
709,932

 
90,805

 
91,753

Total
$
2,395,447

 
$
2,485,983

 
$
2,378,972

 
$
517,229

 
$
511,462