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Business segments and other information (Tables) | 12 Months Ended
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Dec. 31, 2024
Segment Reporting [Abstract] |
Business segments and other information | The following tables present our segment results for the years ended December 31, 2024, 2023 and 2022:
| 2024
| Americas |  | EMEA |  | Asia |  | Segment Total
Net revenues | $ | 2,066,292 |  |  | $ | 617,984 |  |  | $ | 363,048 |  |  | $ | 3,047,324 |
Cost of goods sold | 834,987 |  |  | 289,645 |  |  | 132,030 |  |  | 1,256,662 |
Research and development expenses | 94,912 |  |  | 38,939 |  |  | 18,584 |  |  | 152,435 |
Selling, general and administrative expenses | 465,917 |  |  | 156,375 |  |  | 97,764 |  |  | 720,056 |
Segment operating profit (1) | $ | 670,476 |  |  | $ | 133,025 |  |  | $ | 114,670 |  |  | $ | 918,171 |
| 2023
| Americas |  | EMEA |  | Asia |  | Segment Total
Net revenues | $ | 2,041,339 |  |  | $ | 586,245 |  |  | $ | 346,905 |  |  | $ | 2,974,489 |
Cost of goods sold | 824,514 |  |  | 273,772 |  |  | 118,729 |  |  | 1,217,015 |
Research and development expenses | 82,685 |  |  | 54,787 |  |  | 14,105 |  |  | 151,577 |
Selling, general and administrative expenses | 420,158 |  |  | 146,551 |  |  | 93,119 |  |  | 659,828 |
Segment operating profit (1) | $ | 713,982 |  |  | $ | 111,135 |  |  | $ | 120,952 |  |  | $ | 946,069 |
| 2022
| Americas |  | EMEA |  | Asia |  | Segment Total
Net revenues | $ | 1,926,348 |  |  | $ | 558,373 |  |  | $ | 306,320 |  |  | $ | 2,791,041 |
Cost of goods sold | 780,538 |  |  | 255,210 |  |  | 101,037 |  |  | 1,136,785 |
Research and development expenses | 67,795 |  |  | 69,822 |  |  | 13,379 |  |  | 150,996 |
Selling, general and administrative expenses | 408,068 |  |  | 136,464 |  |  | 87,211 |  |  | 631,743 |
Segment operating profit (1) | $ | 669,947 |  |  | $ | 96,877 |  |  | $ | 104,693 |  |  | $ | 871,517 |
(1) Segment operating profit represents income from continuing operations before interest, loss on extinguishment of debt and taxes adjusted to exclude unallocated corporate expenses manufacturing variances other than fixed manufacturing cost absorption variances, restructuring and impairment charges. See reconciliation of segment operating profit measures for further details.
| Year Ended December 31,
| 2024 |  | 2023 |  | 2022
Reconciliation of segment operating profit measure |
Segment operating profit | $ | 918,171 |  |  | $ | 946,069 |  |  | $ | 871,517 |
Other unallocated expenses (1) | 372,435 |  |  | 383,356 |  |  | 357,997 |
Goodwill impairment charge | 240,000 |  |  | — |  |  | — |
Restructuring and impairment charges | 21,991 |  |  | 15,604 |  |  | 20,299 |
Gain on sale of assets and business | — |  |  | (4,448) |  |  | (6,504) |
Pension settlement charge | 132,732 |  |  | 45,244 |  |  | — |
Income from continuing operations before interest, loss on extinguishments of debt and taxes | $ | 151,013 |  |  | $ | 506,313 |  |  | $ | 499,725 |
(1) Other unallocated expenses include expenses within costs of goods sold, research and development and selling, general and administrative costs and primarily consist of manufacturing variances other than fixed manufacturing cost absorption variances and unallocated corporate function expenses.
| Year Ended December 31,
Depreciation and amortization | 2024 |  | 2023 |  | 2022
Americas | $ | 193,949 |  |  | $ | 168,787 |  |  | $ | 161,842 |
EMEA | 49,596 |  |  | 42,057 |  |  | 38,266 |
Asia | 12,344 |  |  | 10,548 |  |  | 9,311 |
Corporate (1) | 18,712 |  |  | 20,726 |  |  | 21,171 |
Consolidated depreciation and amortization | $ | 274,601 |  |  | $ | 242,118 |  |  | $ | 230,590 |
(1)Reflects depreciation and amortization included within other allocated expenses per reconciliation of segment operating profit measure.
Total Net Revenues and Total Net Property, Plant and Equipment by Geographic Region | The following tables provide total net revenues and total net property, plant and equipment by geographic region for the years ended December 31, 2024, 2023 and 2022 and as of December 31, 2024 and 2023, respectively.
| Year Ended December 31,
| 2024 |  | 2023 |  | 2022
Net revenues (based on selling location): |  |  |  |  |
U.S. | $ | 1,889,312 |  |  | $ | 1,879,898 |  |  | $ | 1,786,467 |
Europe | 705,094 |  |  | 665,185 |  |  | 622,343 |
Asia Pacific | 326,371 |  |  | 307,513 |  |  | 270,749 |
All other | 126,547 |  |  | 121,893 |  |  | 111,482 |
| $ | 3,047,324 |  |  | $ | 2,974,489 |  |  | $ | 2,791,041 |
|  |  | As of December 31,
Net property, plant and equipment: |  |  | 2024 |  | 2023
U.S. |  |  | $ | 215,806 |  |  | $ | 200,969 |
Malaysia |  |  | 73,430 |  |  | 71,947 |
Mexico |  |  | 121,287 |  |  | 112,339 |
All other |  |  | 92,329 |  |  | 94,658 |
|  |  | $ | 502,852 |  |  | $ | 479,913 |

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