XML 38 R24.htm IDEA: XBRL DOCUMENT
v3.8.0.1

Segment Reporting | 12 Months Ended
--- | ---
Dec. 31, 2017
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. Operations 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, 2017 |  | 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 |  | $ | 944,825 |  |  | $ | 99,117 |  |  | $ | 1,043,942 |  |  | $ | 177,705 |  |  | $ | 7,659 |  |  | $ | 1,937,688 |  |  | $ | (38,969 | ) |  | $ | 409,520 |
Swiss Operations |  | 133,925 |  |  | 563,083 |  |  | 697,008 |  |  | 174,447 |  |  | 5,551 |  |  | 1,374,150 |  |  | (19,589 | ) |  | 22,171 |
Western European Operations |  | 673,776 |  |  | 170,820 |  |  | 844,596 |  |  | 117,324 |  |  | 4,052 |  |  | 1,805,294 |  |  | (7,094 | ) |  | 91,927 |
Chinese Operations |  | 452,617 |  |  | 232,882 |  |  | 685,499 |  |  | 231,860 |  |  | 7,168 |  |  | 1,068,811 |  |  | (13,246 | ) |  | 690 |
Other(a) |  | 519,910 |  |  | 7,934 |  |  | 527,844 |  |  | 72,744 |  |  | 3,474 |  |  | 310,667 |  |  | (4,131 | ) |  | 15,530 |
Eliminations and Corporate(b) |  | — |  |  | (1,073,836 | ) |  | (1,073,836 | ) |  | (117,496 | ) |  | 5,554 |  |  | (3,946,805 | ) |  | (44,397 | ) |  | — |
Total |  | $ | 2,725,053 |  |  | $ | — |  |  | $ | 2,725,053 |  |  | $ | 656,584 |  |  | $ | 33,458 |  |  | $ | 2,549,805 |  |  | $ | (127,426 | ) |  | $ | 539,838 |
For the Year Ended December 31, 2016 |  | 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 |  | $ | 867,962 |  |  | $ | 90,580 |  |  | $ | 958,542 |  |  | $ | 161,539 |  |  | $ | 6,094 |  |  | $ | 1,747,338 |  |  | $ | (52,255 | ) |  | $ | 357,785 |
Swiss Operations |  | 130,674 |  |  | 524,983 |  |  | 655,657 |  |  | 163,663 |  |  | 6,199 |  |  | 1,212,637 |  |  | (7,260 | ) |  | 21,239 |
Western European Operations |  | 640,558 |  |  | 176,501 |  |  | 817,059 |  |  | 123,507 |  |  | 4,048 |  |  | 1,120,751 |  |  | (6,857 | ) |  | 82,500 |
Chinese Operations |  | 386,541 |  |  | 219,766 |  |  | 606,307 |  |  | 187,924 |  |  | 6,879 |  |  | 702,571 |  |  | (16,288 | ) |  | 636 |
Other(a) |  | 482,522 |  |  | 7,709 |  |  | 490,231 |  |  | 64,060 |  |  | 3,461 |  |  | 277,476 |  |  | (4,540 | ) |  | 14,218 |
Eliminations and Corporate(b) |  | — |  |  | (1,019,539 | ) |  | (1,019,539 | ) |  | (117,696 | ) |  | 6,062 |  |  | (2,893,996 | ) |  | (36,757 | ) |  | — |
Total |  | $ | 2,508,257 |  |  | $ | — |  |  | $ | 2,508,257 |  |  | $ | 582,997 |  |  | $ | 32,743 |  |  | $ | 2,166,777 |  |  | $ | (123,957 | ) |  | $ | 476,378 |
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 |  | $ | 826,354 |  |  | $ | 87,488 |  |  | $ | 913,842 |  |  | $ | 147,491 |  |  | $ | 6,153 |  |  | $ | 1,487,422 |  |  | $ | (7,113 | ) |  | $ | 317,856 |
Swiss Operations |  | 133,684 |  |  | 498,642 |  |  | 632,326 |  |  | 160,763 |  |  | 6,488 |  |  | 1,134,648 |  |  | (6,650 | ) |  | 21,841 |
Western European Operations |  | 620,128 |  |  | 165,532 |  |  | 785,660 |  |  | 107,424 |  |  | 4,076 |  |  | 1,010,639 |  |  | (5,940 | ) |  | 92,389 |
Chinese Operations |  | 376,291 |  |  | 214,887 |  |  | 591,178 |  |  | 165,532 |  |  | 7,086 |  |  | 506,390 |  |  | (14,770 | ) |  | 692 |
Other(a) |  | 438,990 |  |  | 8,087 |  |  | 447,077 |  |  | 50,821 |  |  | 2,883 |  |  | 260,276 |  |  | (4,306 | ) |  | 13,506 |
Eliminations and Corporate(b) |  | — |  |  | (974,636 | ) |  | (974,636 | ) |  | (99,924 | ) |  | 6,401 |  |  | (2,440,040 | ) |  | (43,727 | ) |  | — |
Total |  | $ | 2,395,447 |  |  | $ | — |  |  | $ | 2,395,447 |  |  | $ | 532,107 |  |  | $ | 33,087 |  |  | $ | 1,959,335 |  |  | $ | (82,506 | ) |  | $ | 446,284 |
(a) | Other includes reporting units in Southeast Asia, Latin America, Eastern Europe, 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.
A reconciliation of earnings before taxes to segment profit follows:
| 2017 |  | 2016 |  | 2015
Earnings before taxes | $ | 574,222 |  |  | $ | 504,193 |  |  | $ | 463,424 |
Amortization | 42,671 |  |  | 36,052 |  |  | 30,951 |
Interest expense | 32,785 |  |  | 28,026 |  |  | 27,451 |
Restructuring charges | 12,772 |  |  | 6,235 |  |  | 11,148 |
Other charges (income), net | (5,866 | ) |  | 8,491 |  |  | (867 | )
Segment profit | $ | 656,584 |  |  | $ | 582,997 |  |  | $ | 532,107 |
During 2017, restructuring charges of $12.8 million were recognized, of which $6.2 million, $1.8 million, $3.0 million, $0.8 million, and $1.0 million relate to the Company’s U.S., Swiss, Western European, Chinese, and Other Operations, respectively. Restructuring charges of $6.2 million were recognized in 2016, of which $2.0 million, $1.5 million, $2.4 million, $0.2 million, and $0.2 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 end-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:
| 2017 |  | 2016 |  | 2015
Laboratory | $ | 1,358,493 |  |  | $ | 1,225,000 |  |  | $ | 1,154,905 |
Industrial | 1,158,335 |  |  | 1,067,858 |  |  | 1,034,310 |
Retail | 208,225 |  |  | 215,399 |  |  | 206,232 |
Total net sales | $ | 2,725,053 |  |  | $ | 2,508,257 |  |  | $ | 2,395,447 |
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
| 2017 |  | 2016 |  | 2015 |  | 2017 |  | 2016
United States | $ | 888,241 |  |  | $ | 815,153 |  |  | $ | 768,815 |  |  | $ | 220,401 |  |  | $ | 168,494 |
Other Americas | 162,672 |  |  | 153,607 |  |  | 157,962 |  |  | 3,406 |  |  | 3,833 |
Total Americas | 1,050,913 |  |  | 968,760 |  |  | 926,777 |  |  | 223,807 |  |  | 172,327 |
Germany | 192,126 |  |  | 182,644 |  |  | 176,491 |  |  | 49,376 |  |  | 28,393 |
France | 130,427 |  |  | 118,681 |  |  | 110,477 |  |  | 6,386 |  |  | 5,009 |
United Kingdom | 64,361 |  |  | 61,513 |  |  | 71,679 |  |  | 19,617 |  |  | 12,631 |
Switzerland | 63,090 |  |  | 62,115 |  |  | 64,622 |  |  | 259,007 |  |  | 246,312 |
Other Europe | 399,923 |  |  | 374,008 |  |  | 349,178 |  |  | 8,050 |  |  | 6,511 |
Total Europe | 849,927 |  |  | 798,961 |  |  | 772,447 |  |  | 342,436 |  |  | 298,856 |
China | 439,373 |  |  | 374,996 |  |  | 362,950 |  |  | 92,269 |  |  | 83,713 |
Rest of World | 384,840 |  |  | 365,540 |  |  | 333,273 |  |  | 9,759 |  |  | 8,811 |
Total Asia/Rest of World | 824,213 |  |  | 740,536 |  |  | 696,223 |  |  | 102,028 |  |  | 92,524 |
Total | $ | 2,725,053 |  |  | $ | 2,508,257 |  |  | $ | 2,395,447 |  |  | $ | 668,271 |  |  | $ | 563,707 |

X
- References No definition available. + Details
Name: | us-gaap_SegmentReportingAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -URI http://asc.fasb.org/topic&trid=2134510 + Details
Name: | us-gaap_SegmentReportingDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration