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Segment Reporting (Tables)

9 Months Ended

Sep. 30, 2021

Operations of the Company's operating segments

The following tables show the operations of the Company’s operating segments:

			Net Sales to						Net Sales to																		As of September 30,
For the three months ended			External						Other						Total Net						Segment						2021
September 30, 2021			Customers						Segments						Sales						Profit						Goodwill
U.S. Operations			$	336,708					$	36,895					$	373,603					$	72,638					$	508,942
Swiss Operations			41,850						208,411						250,261						78,454						23,319
Western European Operations			198,632						52,259						250,891						40,288						91,228
Chinese Operations			210,460						79,001						289,461						108,636						696
Other (a)			164,300						835						165,135						24,381						14,999
Eliminations and Corporate (b)			—						(377,401)						(377,401)						(51,587)						—
Total			$	951,950					$	—					$	951,950					$	272,810					$	639,184

			Net Sales to						Net Sales to
For the nine months ended			External						Other						Total Net						Segment
September 30, 2021			Customers						Segments						Sales						Profit
U.S. Operations			$	931,977					$	112,186					$	1,044,163					$	215,581
Swiss Operations			121,967						594,057						716,024						212,849
Western European Operations			592,704						160,386						753,090						116,630
Chinese Operations			572,055						220,608						792,663						275,323
Other (a)			461,988						3,207						465,195						65,967
Eliminations and Corporate (b)			—						(1,090,444)						(1,090,444)						(147,612)
Total			$	2,680,691					$	—					$	2,680,691					$	738,738

(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 and certain corporate expenses and intercompany investments, which are not included in the Company’s operating segments.

			Net Sales to						Net Sales to																		As of September 30,
For the three months ended			External						Other						Total Net						Segment						2020
September 30, 2020			Customers						Segments						Sales						Profit						Goodwill
U.S. Operations			$	278,948					$	30,857					$	309,805					$	65,493					$	414,370
Swiss Operations			38,848						167,335						206,183						61,902						23,353
Western European Operations			177,630						42,130						219,760						36,954						88,292
Chinese Operations			165,231						54,314						219,545						81,055						651
Other (a)			146,700						1,509						148,209						23,554						15,056
Eliminations and Corporate (b)			—						(296,145)						(296,145)						(38,980)						—
Total			$	807,357					$	—					$	807,357					$	229,978					$	541,722

			Net Sales to						Net Sales to
For the nine months ended			External						Other						Total Net						Segment
September 30, 2020			Customers						Segments						Sales						Profit
U.S. Operations			$	769,696					$	84,761					$	854,457					$	163,012
Swiss Operations			99,693						462,671						562,364						164,060
Western European Operations			480,006						123,543						603,549						91,406
Chinese Operations			406,738						148,794						555,532						190,560
Other (a)			391,059						3,281						394,340						47,702
Eliminations and Corporate (b)			—						(823,050)						(823,050)						(108,841)
Total			$	2,147,192					$	—					$	2,147,192					$	547,899

(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 and certain corporate expenses and intercompany investments, which are not included in the Company’s operating segments.

Reconciliation of earnings before taxes to segment profit

A reconciliation of earnings before taxes to segment profit for the three and nine month periods ended September 30 follows:

			Three Months Ended												Nine Months Ended
			2021						2020						2021						2020
Earnings before taxes			$	247,587					$	205,809					$	663,385					$	479,563
Amortization			16,039						14,121						46,141						42,008
Interest expense			11,791						9,310						31,701						29,111
Restructuring charges			650						4,570						2,719						7,335
Other income, net			(3,257)						(3,832)						(5,208)						(10,118)
Segment profit			$	272,810					$	229,978					$	738,738					$	547,899

X

- Definition

Tabular disclosure of identification, description, and amounts of all significant reconciling items in the reconciliation of total profit or loss from reportable segments to the entity's consolidated income before income taxes, extraordinary items, and discontinued operations.

+ References

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X

- Definition

Tabular disclosure of Net Sales to External Customers, Net Sales to Other Segments, Total Net Sales, Segment Profit, and Goodwill, by Segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker even if not included in that measure of segment profit or loss.

+ References

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