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Revenue from Contracts with Customers (Tables) | 6 Months Ended
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Jun. 30, 2024
Revenue from Contract with Customer [Abstract] |
Disaggregation of Revenue [Table Text Block] |
For the three months ended June 30, 2024 | U.S. Operations |  | Swiss Operations |  | Western European Operations |  | Chinese Operations |  | Other Operations |  | Total
Product Revenue | $ | 264,345 |  |  | $ | 39,418 |  |  | $ | 137,113 |  |  | $ | 148,436 |  |  | $ | 122,948 |  |  | $ | 712,260 |
Service Revenue: |  |  |  |  |  |  |  |  |  |  |
Point in time | 73,839 |  |  | 7,615 |  |  | 43,218 |  |  | 11,753 |  |  | 34,614 |  |  | 171,039 |
Over time | 24,031 |  |  | 3,152 |  |  | 21,982 |  |  | 4,195 |  |  | 10,091 |  |  | 63,451 |
Total | $ | 362,215 |  |  | $ | 50,185 |  |  | $ | 202,313 |  |  | $ | 164,384 |  |  | $ | 167,653 |  |  | $ | 946,750 |
For the three months ended June 30, 2023 | U.S. Operations |  | Swiss Operations |  | Western European Operations |  | Chinese Operations |  | Other Operations |  | Total
Product Revenue | $ | 265,881 |  |  | $ | 36,662 |  |  | $ | 130,404 |  |  | $ | 204,259 |  |  | $ | 121,765 |  |  | $ | 758,971 |
Service Revenue: |  |  |  |  |  |  |  |  |  |  |
Point in time | 72,250 |  |  | 7,246 |  |  | 40,831 |  |  | 13,020 |  |  | 32,142 |  |  | 165,489 |
Over time | 20,984 |  |  | 2,895 |  |  | 20,840 |  |  | 4,390 |  |  | 8,548 |  |  | 57,657 |
Total | $ | 359,115 |  |  | $ | 46,803 |  |  | $ | 192,075 |  |  | $ | 221,669 |  |  | $ | 162,455 |  |  | $ | 982,117 |
For the six months ended June 30, 2024 | U.S. Operations |  | Swiss Operations |  | Western European Operations |  | Chinese Operations |  | Other Operations |  | Total
Product Revenue | $ | 515,081 |  |  | $ | 83,039 |  |  | $ | 288,648 |  |  | $ | 277,447 |  |  | $ | 249,013 |  |  | $ | 1,413,228 |
Service Revenue: |  |  |  |  |  |  |  |  |  |  |
Point in time | 146,973 |  |  | 15,379 |  |  | 86,039 |  |  | 21,654 |  |  | 65,824 |  |  | 335,869 |
Over time | 46,284 |  |  | 6,017 |  |  | 42,391 |  |  | 8,481 |  |  | 20,429 |  |  | 123,602 |
Total | $ | 708,338 |  |  | $ | 104,435 |  |  | $ | 417,078 |  |  | $ | 307,582 |  |  | $ | 335,266 |  |  | $ | 1,872,699 |
For the six months ended June 30, 2023 | U.S. Operations |  | Swiss Operations |  | Western European Operations |  | Chinese Operations |  | Other Operations |  | Total
Product Revenue | $ | 512,410 |  |  | $ | 73,123 |  |  | $ | 271,111 |  |  | $ | 374,689 |  |  | $ | 243,639 |  |  | $ | 1,474,972 |
Service Revenue: |  |  |  |  |  |  |  |  |  |  |
Point in time | 142,875 |  |  | 14,707 |  |  | 81,996 |  |  | 24,368 |  |  | 62,187 |  |  | 326,133 |
Over time | 41,231 |  |  | 5,342 |  |  | 38,392 |  |  | 8,380 |  |  | 16,405 |  |  | 109,750 |
Total | $ | 696,516 |  |  | $ | 93,172 |  |  | $ | 391,499 |  |  | $ | 407,437 |  |  | $ | 322,231 |  |  | $ | 1,910,855 |
A breakdown of net sales to external customers by geographic customer destination for the three and six months ended June 30 follows:
| Three Months Ended |  | Six Months Ended
| 2024 |  | 2023 |  | 2024 |  | 2023
Americas | $ | 404,030 |  |  | $ | 396,897 |  |  | $ | 788,373 |  |  | $ | 768,970 |
Europe | 258,836 |  |  | 246,340 |  |  | 532,697 |  |  | 500,314 |
Asia / Rest of World | 283,884 |  |  | 338,880 |  |  | 551,629 |  |  | 641,571 |
Total | $ | 946,750 |  |  | $ | 982,117 |  |  | $ | 1,872,699 |  |  | $ | 1,910,855 |
The Company's glo bal revenue mix by product category is laboratory (56% of sales), industrial (39% of sales) and retail (5% of sales). The Company's product revenue by reportable segment is proportionately similar to the Company's global mix except the Company's Swiss Operations is largely comprised of laboratory products while the Company's Chinese Operations has a slightly higher percentage of industrial products. A breakdown of the Company’s sales by p roduct category for the three and six months ended June 30 is as follows:
| Three Months Ended |  | Six Months Ended
| 2024 |  | 2023 |  | 2024 |  | 2023
Laboratory | $ | 523,233 |  |  | $ | 526,699 |  |  | $ | 1,048,288 |  |  | $ | 1,046,730 |
Industrial | 374,257 |  |  | 399,001 |  |  | 726,102 |  |  | 754,181 |
Retail | 49,260 |  |  | 56,417 |  |  | 98,309 |  |  | 109,944 |
Total | $ | 946,750 |  |  | $ | 982,117 |  |  | $ | 1,872,699 |  |  | $ | 1,910,855 |
Contract with Customer, Contract Asset, Contract Liability, and Receivable [Table Text Block] |
|  | 2024 |  | 2023
Beginning balances as of January 1 |  | $ | 202,022 |  |  | $ | 192,759 |
Customer pre-payments/deferred revenue |  | 338,581 |  |  | 343,373 |
Revenue recognized |  | (320,727) |  |  | (332,005) |
Foreign currency translation |  | (5,671) |  |  | 422 |
Ending balance as of June 30 |  | $ | 214,205 |  |  | $ | 204,549 |

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- Definition Tabular disclosure of receivable, contract asset, and contract liability from contract with customer. Includes, but is not limited to, change in contract asset and contract liability. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 10 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-10 + Details
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- Definition Tabular disclosure of disaggregation of revenue into categories depicting how nature, amount, timing, and uncertainty of revenue and cash flows are affected by economic factor. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 5 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-5 + Details
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