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Segment Reporting
 6 Months Ended
Jun. 30, 2025
Segment Reporting [Abstract]  
SEGMENT REPORTING
13.    SEGMENT REPORTING
As disclosed in Note 18 to the Company's consolidated financial statements for the year ended December 31, 2024, the Company has determined there are five reportable segments: U.S. Operations, Swiss Operations, Western European Operations, Chinese Operations and Other.
Our reportable segments comprise the structure used by our Chief Executive Officer, who is our Chief Operating Decision Maker (CODM), to make key operating decisions and assess performance. 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).
The following tables show the operations of the Company’s operating segments:
Three Months ended
June 30, 2025		U.S. OperationsSwiss OperationsWestern European OperationsChinese Operations
Other Operations(a)
Eliminations and Corporate(b)
Total
Net sales to external customers$372,516 $49,555 $211,916 $162,017 $187,217 $— $983,221 
Net sales to other segments39,173 199,323 50,547 83,316 9,520 (381,879)— 
Total net sales411,689 248,878 262,463 245,333 196,737 (381,879)983,221 
Segment cost of sales(c)
187,249 116,806 114,982 110,991 107,634 
Segment period expense(d)
$131,740 $61,491 $95,601 $45,004 $58,000 
Unallocated expense / eliminations52,309 
Segment profit$92,700 $70,581 $51,880 $89,338 $31,103 $(52,309)$283,293 

Six Months ended
June 30, 2025		U.S. OperationsSwiss OperationsWestern European OperationsChinese Operations
Other Operations(a)
Eliminations and Corporate(b)
Total
Net sales to external customers$718,274 $96,857 $402,285 $303,185 $346,364 $— $1,866,965 
Net sales to other segments73,266 375,829 95,634 160,392 17,686 (722,807)— 
Total net sales791,540 472,686 497,919 463,577 364,050 (722,807)1,866,965 
Segment cost of sales(c)
350,171 219,030 219,049 210,469 195,104 
Segment period expense(d)
$264,373 $122,080 $183,945 $87,753 $113,352 
Unallocated expense / eliminations104,419 
Segment profit$176,996 $131,576 $94,925 $165,355 $55,594 $(104,419)$520,027 
(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.
(c)Segment cost of sales includes variable production and other costs.
(d)Segment period expense includes certain manufacturing, field service costs, research and development, and selling, general and administrative costs.
Three Months ended
June 30, 2024		U.S. OperationsSwiss OperationsWestern European OperationsChinese Operations
Other Operations(a)
Eliminations and Corporate(b)
Total
Net sales to external customers$362,215 $50,185 $202,313 $164,384 $167,653 $— $946,750 
Net sales to other segments36,017 169,194 42,171 81,894 7,604 (336,880)— 
Total net sales398,232 219,379 244,484 246,278 175,257 (336,880)946,750 
Segment cost of sales(c)
171,894 104,181 111,223 102,788 95,694 
Segment period expense(d)
$126,091 $59,394 $88,137 $43,994 $54,935 
Unallocated expense / eliminations41,198 
Segment profit$100,247 $55,804 $45,124 $99,496 $24,628 $(41,198)$284,101 

Six Months ended
June 30, 2024		U.S. OperationsSwiss OperationsWestern European OperationsChinese Operations
Other Operations(a)
Eliminations and Corporate(b)
Total
Net sales to external customers$708,338 $104,435 $417,078 $307,582 $335,266 $— $1,872,699 
Net sales to other segments73,435 392,565 89,909 162,536 10,936 (729,381)— 
Total net sales781,773 497,000 506,987 470,118 346,202 (729,381)1,872,699 
Segment cost of sales(c)
338,218 263,176 235,200 207,990 190,505 
Segment period expense(d)
$249,672 $118,934 $176,352 $86,809 $105,887 
Unallocated expense / eliminations77,908 
Segment profit$193,883 $114,890 $95,435 $175,319 $49,810 $(77,908)$551,429 

(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.
(c)Segment cost of sales includes variable production and other costs.
(d)Segment period expense includes certain manufacturing, field service costs, research and development, and selling, general and administrative costs.
    A reconciliation of earnings before taxes to segment profit for the three and six month periods ended June 30 follows:
 Three Months EndedSix Months Ended
 2025202420252024
Segment profit$283,293 $284,101 $520,027 $551,429 
Amortization(17,581)(18,178)(34,774)(36,406)
Interest expense(16,779)(18,950)(33,432)(38,182)
Restructuring charges(3,557)(5,329)(7,324)(14,993)
Other income, net3,281 1,533 6,102 1,876 
Earnings before taxes$248,657 $243,177 $450,599 $463,724 

The following tables show the additional disclosures for the Company’s reportable segments:
Three Months ended
June 30, 2025		U.S. OperationsSwiss OperationsWestern European OperationsChinese Operations
Other Operations(a)
Eliminations and Corporate(b)
Total
Depreciation$4,150 $1,681 $1,472 $2,331 $1,636 $1,600 $12,870 
Total assets$4,201,913 $4,465,399 $1,644,299 $1,005,376 $442,946 $(8,359,468)$3,400,465 
Purchase of property, plant, and equipment$(3,506)$(1,579)$(1,232)$(2,658)$(1,393)$(13,509)$(23,877)
Goodwill$532,394 $28,920 $108,380 $611 $13,817 $— $684,122 
Six Months ended
June 30, 2025		U.S. OperationsSwiss OperationsWestern European OperationsChinese Operations
Other Operations(a)
Eliminations and Corporate(b)
Total
Depreciation$8,321 $3,346 $2,800 $4,659 $3,117 $3,091 $25,334 
Purchase of property, plant, and equipment$(5,804)$(2,282)$(2,429)$(4,375)$(2,702)$(23,540)$(41,132)
(a)Other Operations includes reporting units in Southeast Asia, Latin America, Eastern Europe, and other countries.
(b)Eliminations and Corporate includes the elimination of intersegment transactions as well as certain corporate expenses and intercompany investments, which are not included in the Company’s operating segments.
Three Months ended
June 30, 2024		U.S. OperationsSwiss OperationsWestern European OperationsChinese Operations
Other Operations(a)
Eliminations and Corporate(b)
Total
Depreciation$4,165 $1,712 $1,339 $2,358 $1,298 $1,479 $12,351 
Total assets$3,964,868 $3,510,367 $1,526,309 $1,080,807 $402,882 $(7,236,069)$3,249,164 
Purchase of property, plant, and equipment$(3,296)$(1,903)$(1,666)$(1,720)$(1,287)$(13,880)$(23,752)
Goodwill$526,385 $25,841 $99,401 $601 $13,131 $— $665,359 
Six Months ended
June 30, 2024		U.S. OperationsSwiss OperationsWestern European OperationsChinese Operations
Other Operations(a)
Eliminations and Corporate(b)
Total
Depreciation$8,326 $3,481 $2,667 $4,740 $2,658 $3,001 $24,873 
Purchase of property, plant, and equipment$(7,721)$(2,985)$(2,658)$(2,817)$(2,972)$(22,048)$(41,201)
(a)Other Operations includes reporting units in Southeast Asia, Latin America, Eastern Europe, and other countries.
(b)Eliminations and Corporate includes the elimination of intersegment transactions as well as certain corporate expenses and intercompany investments, which are not included in the Company’s operating segments.