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Business Segments (Tables) | 9 Months Ended
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Sep. 30, 2023
Segment Reporting, Measurement Disclosures [Abstract] |
Schedule of Segment Reporting Information, by Segment | The following table presents information about the performance of the Company’s reportable segments:
| Three Months Ended September 30, |  | Nine Months Ended September 30,
| 2023 |  | 2022 |  | 2023 |  | 2022
Net sales |  |  |  |  |  |  |
Americas | $ | 245,899 |  |  | $ | 254,678 |  |  | $ | 750,531 |  |  | $ | 702,580 |
EMEA | 139,620 |  |  | 134,386 |  |  | 435,602 |  |  | 426,739 |
Asia/Pacific | 105,093 |  |  | 103,154 |  |  | 300,071 |  |  | 329,458 |
Total net sales | $ | 490,612 |  |  | $ | 492,218 |  |  | $ | 1,486,204 |  |  | $ | 1,458,777 |
Segment operating earnings |  |  |  |  |  |  |
Americas | $ | 69,148 |  |  | $ | 66,749 |  |  | $ | 204,280 |  |  | $ | 164,065 |
EMEA | 27,922 |  |  | 15,479 |  |  | 81,076 |  |  | 58,803 |
Asia/Pacific | 30,963 |  |  | 26,723 |  |  | 86,604 |  |  | 76,146 |
Total segment operating earnings | 128,033 |  |  | 108,951 |  |  | 371,960 |  |  | 299,014 |
Combination, integration and other acquisition-related expenses | — |  |  | (2,107) |  |  | — |  |  | (7,992) |
Restructuring and related (charges) credits, net | (1,019) |  |  | 1,423 |  |  | (6,034) |  |  | 604 |
Non-operating and administrative expenses | (52,280) |  |  | (47,852) |  |  | (154,001) |  |  | (139,894) |
Depreciation of corporate assets and amortization | (15,216) |  |  | (15,806) |  |  | (45,683) |  |  | (45,817) |
Operating income | 59,518 |  |  | 44,609 |  |  | 166,242 |  |  | 105,915 |
Other (expense) income, net | (2,713) |  |  | 85 |  |  | (8,558) |  |  | (10,520) |
Interest expense, net | (12,781) |  |  | (8,389) |  |  | (38,744) |  |  | (20,228) |
Income before taxes and equity in net income of associated companies | $ | 44,024 |  |  | $ | 36,305 |  |  | $ | 118,940 |  |  | $ | 75,167 |
The following table summarizes inter-segment revenues. All inter-segment transactions have been eliminated from each reportable segment’s net sales and earnings for all periods presented in the above tables.
| Three Months Ended September 30, |  | Nine Months Ended September 30,
| 2023 |  | 2022 |  | 2023 |  | 2022
Americas | $ | 1,772 |  |  | $ | 2,702 |  |  | $ | 6,778 |  |  | $ | 9,200 |
EMEA | 5,161 |  |  | 9,448 |  |  | 18,718 |  |  | 37,259 |
Asia/Pacific | 793 |  |  | 327 |  |  | 1,329 |  |  | 739 |

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- Definition Tabular disclosure of the profit or loss and total assets for each reportable 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 Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482573/350-20-50-1 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-25 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-22 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-30 + Details
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