Segment Reporting

3 Months Ended

Mar. 31, 2013

Segment Reporting [Abstract]

SEGMENT REPORTING

SEGMENT REPORTING

As disclosed in Note 18 to the Company's consolidated financial statements for the year ending December 31, 2012, the Company has determined there are five reportable segments:  U.S. Operations, Swiss Operations, Western European Operations, Chinese Operations and Other.

The Company evaluates segment performance based on Segment Profit (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:

	Net Sales to		Net Sales to
For the three months ended	External		Other			Total Net			Segment
March 31, 2013	Customers		Segments			Sales			Profit			Goodwill
U.S. Operations	$	158,386	$	18,377		$	176,763		$	24,643		$	307,933
Swiss Operations	30,697		97,123			127,820			35,403			22,694
Western European Operations	146,168		28,112			174,280			18,298			100,483
Chinese Operations	90,727		30,402			121,129			24,648			722
Other (a)	98,375		1,420			99,795			9,487			13,877
Eliminations and Corporate (b)	—		(175,434		)	(175,434		)	(27,046		)	—
Total	$	524,353	$	—		$	524,353		$	85,433		$	445,709

	Net Sales to		Net Sales to
For the three months ended	External		Other			Total Net			Segment
March 31, 2012	Customers		Segments			Sales			Profit			Goodwill
U.S. Operations	$	157,298	$	18,111		$	175,409		$	23,957		$	307,570
Swiss Operations	31,605		97,519			129,124			29,142			23,853
Western European Operations	153,005		23,847			176,852			18,265			104,921
Chinese Operations	91,294		29,813			121,107			25,318			715
Other (a)	102,198		1,649			103,847			10,324			14,619
Eliminations and Corporate (b)	—		(170,939		)	(170,939		)	(26,212		)	—
Total	$	535,400	$	—		$	535,400		$	80,794		$	451,678

(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.

A reconciliation of earnings before taxes to segment profit for the three months ended March 31 follows:

	Three Months Ended
	March 31, 2013		March 31, 2012
Earnings before taxes	$	69,136	$	69,308
Amortization	5,122		5,199
Interest expense	5,400		5,823
Restructuring charges	5,002		308
Other charges (income), net	773		156
Segment profit	$	85,433	$	80,794

During the three months ended March 31, 2013, restructuring charges of $5.0 million were recognized, of which $0.4 million, $2.9 million, $0.8 million, $0.7 million and $0.2 million related to the Company’s U.S., Swiss, Western European, China, and Other operations, respectively. Restructuring charges of $0.3 million were recognized during the three months ended March 31, 2012, of which $0.2 million and $0.1 million related to the Company’s U.S. and Western Europe operations, respectively.