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Segment Reporting
 9 Months Ended
Sep. 30, 2025
Segment Reporting [Abstract]  
SEGMENT REPORTING
14.    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 Operations.
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
September 30, 2025		U.S. OperationsSwiss OperationsWestern European OperationsChinese Operations
Other Operations(a)
Eliminations and Corporate(b)
Total
Net sales to external customers$385,850 $52,072 $227,176 $166,964 $197,637 $— $1,029,699 
Net sales to other segments35,784 218,605 52,029 87,272 11,213 (404,903)— 
Total net sales421,634 270,677 279,205 254,236 208,850 (404,903)1,029,699 
Segment cost of sales(c)
186,632 126,308 126,898 112,946 113,874 
Segment period expense(d)
135,097 62,336 95,061 47,034 58,292 
Unallocated expense / eliminations60,202 
Segment profit$99,905 $82,033 $57,246 $94,256 $36,684 $(60,202)$309,922 

Nine Months ended
September 30, 2025		U.S. OperationsSwiss OperationsWestern European OperationsChinese Operations
Other Operations(a)
Eliminations and Corporate(b)
Total
Net sales to external customers$1,104,124 $148,929 $629,461 $470,149 $544,001 $— $2,896,664 
Net sales to other segments109,050 594,434 147,663 247,664 28,899 (1,127,710)— 
Total net sales1,213,174 743,363 777,124 717,813 572,900 (1,127,710)2,896,664 
Segment cost of sales(c)
536,803 345,338 345,947 323,415 308,978 
Segment period expense(d)
399,470 184,416 279,006 134,787 171,644 
Unallocated expense / eliminations164,621 
Segment profit$276,901 $213,609 $152,171 $259,611 $92,278 $(164,621)$829,949 
(a)Other Operations 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
September 30, 2024		U.S. OperationsSwiss OperationsWestern European OperationsChinese Operations
Other Operations(a)
Eliminations and Corporate(b)
Total
Net sales to external customers$351,042 $53,435 $201,837 $164,400 $183,821 $— $954,535 
Net sales to other segments37,411 188,956 43,605 78,069 5,786 (353,827)— 
Total net sales388,453 242,391 245,442 242,469 189,607 (353,827)954,535 
Segment cost of sales(c)
167,199 106,381 113,969 107,650 105,255 
Segment period expense(d)
123,977 55,815 87,513 45,384 52,897 
Unallocated expense / eliminations45,749 
Segment profit$97,277 $80,195 $43,960 $89,435 $31,455 $(45,749)$296,573 
Nine Months ended
September 30, 2024		U.S. OperationsSwiss OperationsWestern European OperationsChinese Operations
Other Operations(a)
Eliminations and Corporate(b)
Total
Net sales to external customers$1,059,380 $157,870 $618,915 $471,982 $519,087 $— $2,827,234 
Net sales to other segments110,846 581,521 133,513 240,604 16,722 (1,083,206)— 
Total net sales1,170,226 739,391 752,428 712,586 535,809 (1,083,206)2,827,234 
Segment cost of sales(c)
505,417 369,557 349,169 315,640 295,760 
Segment period expense(d)
373,649 174,749 263,864 132,191 158,785 
Unallocated expense / eliminations123,657 
Segment profit$291,160 $195,085 $139,395 $264,755 $81,264 $(123,657)$848,002 

(a)Other Operations 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 nine month periods ended September 30 follows:
 Three Months EndedNine Months Ended
 2025202420252024
Segment profit$309,922 $296,573 $829,949 $848,002 
Amortization(20,022)(18,243)(54,796)(54,649)
Interest expense(17,695)(18,599)(51,127)(56,781)
Restructuring charges(5,972)(2,631)(13,296)(17,624)
Other income, net3,003 1,852 9,105 3,728 
Earnings before taxes$269,236 $258,952 $719,835 $722,676 

The following tables show the additional disclosures for the Company’s reportable segments:
Three Months ended
September 30, 2025		U.S. OperationsSwiss OperationsWestern European OperationsChinese Operations
Other Operations(a)
Eliminations and Corporate(b)
Total
Depreciation$4,160 $1,764 $1,509 $2,360 $1,278 $1,644 $12,715 
Total assets$4,291,423 $4,075,489 $1,672,058 $949,603 $489,820 $(7,956,927)$3,521,466 
Purchase of property, plant, and equipment$(6,219)$(3,355)$(3,384)$(6,806)$(3,097)$(25,504)$(48,365)
Goodwill$567,223 $29,029 $107,218 $615 $27,121 $— $731,206 
Nine Months ended
September 30, 2025		U.S. OperationsSwiss OperationsWestern European OperationsChinese Operations
Other Operations(a)
Eliminations and Corporate(b)
Total
Depreciation$12,481 $5,110 $4,309 $7,019 $4,395 $4,735 $38,049 
Purchase of property, plant, and equipment$(8,517)$(4,058)$(4,581)$(8,523)$(4,406)$(35,535)$(65,620)
(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
September 30, 2024		U.S. OperationsSwiss OperationsWestern European OperationsChinese Operations
Other Operations(a)
Eliminations and Corporate(b)
Total
Depreciation$4,442 $1,826 $1,310 $2,353 $1,317 $1,588 $12,836 
Total assets$4,020,585 $3,869,423 $1,570,262 $1,184,116 $425,251 $(7,749,809)$3,319,828 
Purchase of property, plant, and equipment$(5,714)$(3,983)$(3,839)$(4,570)$(2,691)$(24,376)$(45,173)
Goodwill$526,337 $27,316 $104,334 $629 $13,788 $— $672,404 
Nine Months ended
September 30, 2024		U.S. OperationsSwiss OperationsWestern European OperationsChinese Operations
Other Operations(a)
Eliminations and Corporate(b)
Total
Depreciation$12,768 $5,307 $3,977 $7,093 $3,975 $4,589 $37,709 
Purchase of property, plant, and equipment$(10,139)$(5,065)$(4,831)$(5,667)$(4,376)$(32,544)$(62,622)
(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.