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Segment Reporting (Tables)

9 Months Ended

Sep. 30, 2024

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						2024
September 30, 2024			Customers						Segments						Sales						Profit						Goodwill
U.S. Operations			$	351,042					$	37,411					$	388,453					$	97,277					$	526,337
Swiss Operations			53,435						188,956						242,391						80,195						27,316
Western European Operations			201,837						43,605						245,442						43,960						104,334
Chinese Operations			164,400						78,069						242,469						89,435						629
Other (a)			183,821						5,786						189,607						31,455						13,788
Eliminations and Corporate (b)			—						(353,827)						(353,827)						(45,749)						—
Total			$	954,535					$	—					$	954,535					$	296,573					$	672,404

			Net Sales to						Net Sales to
For the nine months ended			External						Other						Total Net						Segment
September 30, 2024			Customers						Segments						Sales						Profit
U.S. Operations			$	1,059,380					$	110,846					$	1,170,226					$	291,160
Swiss Operations			157,870						581,521						739,391						195,085
Western European Operations			618,915						133,513						752,428						139,395
Chinese Operations			471,982						240,604						712,586						264,755
Other (a)			519,087						16,722						535,809						81,264
Eliminations and Corporate (b)			—						(1,083,206)						(1,083,206)						(123,657)
Total			$	2,827,234					$	—					$	2,827,234					$	848,002

(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						2023
September 30, 2023			Customers						Segments						Sales						Profit						Goodwill
U.S. Operations			$	353,758					$	34,253					$	388,011					$	90,604					$	524,459
Swiss Operations			50,233						196,967						247,200						64,387						25,224
Western European Operations			198,520						47,879						246,399						46,345						96,966
Chinese Operations			162,012						70,392						232,404						83,865						596
Other (a)			177,939						2,677						180,616						30,007						13,393
Eliminations and Corporate (b)			—						(352,168)						(352,168)						(19,243)						—
Total			$	942,462					$	—					$	942,462					$	295,965					$	660,638

			Net Sales to						Net Sales to
For the nine months ended			External						Other						Total Net						Segment
September 30, 2023			Customers						Segments						Sales						Profit
U.S. Operations			$	1,050,274					$	101,243					$	1,151,517					$	276,605
Swiss Operations			143,405						580,174						723,579						207,723
Western European Operations			590,019						140,521						730,540						129,615
Chinese Operations			569,449						198,123						767,572						284,828
Other (a)			500,170						17,236						517,406						78,690
Eliminations and Corporate (b)			—						(1,037,297)						(1,037,297)						(107,341)
Total			$	2,853,317					$	—					$	2,853,317					$	870,120

(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
			2024						2023						2024						2023
Earnings before taxes			$	258,952					$	251,159					$	722,676					$	741,172
Amortization			18,243						18,314						54,649						54,135
Interest expense			18,599						20,278						56,781						57,711
Restructuring charges			2,631						7,385						17,624						19,680
Other income, net			(1,852)						(1,171)						(3,728)						(2,578)
Segment profit			$	296,573					$	295,965					$	848,002					$	870,120

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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