10-Q

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

Form 10-Q

(Mark One)

x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE QUARTERLY PERIOD ENDED MARCH 31, 2014, OR

¨ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE TRANSITION PERIOD FROM ____________ TO ________________

Commission File Number: 1-13595

Mettler-Toledo International Inc.

_______________________________________________________________________________________________________________________________________

(Exact name of registrant as specified in its charter)

Delaware	13-3668641
(State or other jurisdiction of	(I.R.S Employer Identification No.)
incorporation or organization)
1900 Polaris Parkway Columbus, Ohio 43240 and Im Langacher, P.O. Box MT-100 CH 8606 Greifensee, Switzerland _________________________________________________________ (Address of principal executive offices) (Zip Code)

1-614-438-4511 and +41-44-944-22-11

________________________________________________________________________________

(Registrant's telephone number, including area code)

not applicable

______________________________________________________________________________________________________________________

(Former name, former address and former fiscal year, if changed since last report)

Indicate by check mark whether the registrant: (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes   X   No ___

Indicate by checkmark whether the registrant has submitted electronically and posted on its corporate Web-site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files). Yes   X   No ___

Indicate by checkmark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer or a smaller reporting company. See the definitions of “large accelerated filer,” “accelerated filer” and “smaller reporting company” in Rule 12b-2 of the Exchange Act. (Check one): Large accelerated filer. X  Accelerated filer __ Non-accelerated filer __ (Do not check if a smaller reporting company)Smaller reporting company __

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ___ No  X 

The Registrant had 29,220,329 shares of Common Stock outstanding at March 31, 2014.

METTLER-TOLEDO INTERNATIONAL INC.

INDEX TO QUARTERLY REPORT ON FORM 10-Q

		PAGE
	PART I. FINANCIAL INFORMATION
Item 1.	Financial Statements
	Unaudited Interim Consolidated Financial Statements:
	Interim Consolidated Statements of Operations and Comprehensive Income for the three months ended March 31, 2014 and 2013	3
	Interim Consolidated Balance Sheets as of March 31, 2014 and December 31, 2013	4
	Interim Consolidated Statements of Shareholders’ Equity for the three months ended March 31, 2014 and twelve months ended December 31, 2013	5
	Interim Consolidated Statements of Cash Flows for the three months ended March 31, 2014 and 2013	6
	Notes to the Interim Consolidated Financial Statements at March 31, 2014	7
Item 2.	Management’s Discussion and Analysis of Financial Condition and Results of Operations	19
Item 3.	Quantitative and Qualitative Disclosures About Market Risk	26
Item 4.	Controls and Procedures	26
	PART II. OTHER INFORMATION
Item 1.	Legal Proceedings	27
Item 1A.	Risk Factors	27
Item 2.	Unregistered Sales of Equity Securities and Use of Proceeds	27
Item 3.	Defaults upon Senior Securities	27
Item 5.	Other Information	27
Item 6.	Exhibits	27
SIGNATURE		28

PART I. FINANCIAL INFORMATION

Item 1. Financial Statements

METTLER-TOLEDO INTERNATIONAL INC.

INTERIM CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME

Three months ended March 31, 2014 and 2013

(In thousands, except share data)

(unaudited)

	March 31, 2014		March 31, 2013
Net sales
Products	$	422,148	$	402,339
Service	128,473		122,016
Total net sales	550,621		524,355
Cost of sales
Products	181,198		172,589
Service	76,782		72,608
Gross profit	292,641		279,158
Research and development	29,497		27,700
Selling, general and administrative	172,191		166,025
Amortization	7,094		5,122
Interest expense	5,666		5,400
Restructuring charges	1,492		5,002
Other charges (income), net	317		773
Earnings before taxes	76,384		69,136
Provision for taxes	18,333		16,592
Net earnings	$	58,051	$	52,544
Basic earnings per common share:
Net earnings	$	1.98	$	1.73
Weighted average number of common shares	29,370,232		30,299,569
Diluted earnings per common share:
Net earnings	$	1.93	$	1.69
Weighted average number of common and common equivalent shares	30,088,245		31,101,979
Comprehensive income, net of tax (Note 8)	$	59,904	$	35,429

The accompanying notes are an integral part of these interim consolidated financial statements.

- 3 -

METTLER-TOLEDO INTERNATIONAL INC.

INTERIM CONSOLIDATED BALANCE SHEETS

As of March 31, 2014 and December 31, 2013

(In thousands, except share data)

(unaudited)

	March 31, 2014			December 31, 2013
ASSETS
Current assets:
Cash and cash equivalents	$	115,804		$	111,874
Trade accounts receivable, less allowances of $14,822 at March 31, 2014
and $14,856 at December 31, 2013	425,161			466,703
Inventories	224,420			210,414
Current deferred tax assets, net	58,705			57,934
Other current assets and prepaid expenses	66,015			67,062
Total current assets	890,105			913,987
Property, plant and equipment, net	517,686			514,438
Goodwill	456,942			455,842
Other intangible assets, net	112,919			114,418
Non-current deferred tax assets, net	22,204			24,121
Other non-current assets	135,281			130,013
Total assets	$	2,135,137		$	2,152,819
LIABILITIES AND SHAREHOLDERS’ EQUITY
Current liabilities:
Trade accounts payable	$	119,128		$	145,993
Accrued and other liabilities	117,913			116,831
Accrued compensation and related items	89,558			123,493
Deferred revenue and customer prepayments	98,564			83,083
Taxes payable	51,384			61,502
Current deferred tax liabilities	16,393			16,219
Short-term borrowings and current maturities of long-term debt	16,255			17,067
Total current liabilities	509,195			564,188
Long-term debt	449,582			395,960
Non-current deferred tax liabilities	63,122			64,449
Other non-current liabilities	189,634			193,170
Total liabilities	1,211,533			1,217,767
Commitments and contingencies (Note 14)
Shareholders’ equity:
Preferred stock, $0.01 par value per share; authorized 10,000,000 shares	—			—
Common stock, $0.01 par value per share; authorized 125,000,000 shares;	448			448
issued 44,786,011 and 44,786,011 shares; outstanding 29,220,329, and 29,487,075 shares
at March 31, 2014 and December 31, 2013, respectively
Additional paid-in capital	660,946			653,250
Treasury stock at cost (15,565,682 shares at March 31, 2014 and 15,298,936 shares at	(1,796,550		)	(1,721,030		)
December 31, 2013)
Retained earnings	2,091,943			2,037,420
Accumulated other comprehensive loss	(33,183		)	(35,036		)
Total shareholders’ equity	923,604			935,052
Total liabilities and shareholders’ equity	$	2,135,137		$	2,152,819

The accompanying notes are an integral part of these interim consolidated financial statements.

- 4 -

METTLER-TOLEDO INTERNATIONAL INC.

INTERIM CONSOLIDATED STATEMENTS OF SHAREHOLDERS’ EQUITY

Three months ended March 31, 2014 and twelve months ended December 31, 2013

(In thousands, except share data)

(unaudited)

													Accumulated Other Comprehensive Income (Loss)
					Additional Paid-in Capital
	Common Stock						Treasury Stock			Retained Earnings
	Shares		Amount													Total
Balance at December 31, 2012	30,410,006		$	448	$	638,705	$	(1,463,924	)	$	1,749,451		$	(97,461	)	$	827,219
Exercise of stock options and restricted
stock units	398,646		—		—		37,870			(18,125		)	—			19,745
Repurchases of common stock	(1,321,577	)	—		—		(294,976		)	—			—			(294,976		)
Tax benefit resulting from exercise of certain
employee stock options	—		—		1,906		—			—			—			1,906
Share-based compensation	—		—		12,639		—			—			—			12,639
Net earnings	—		—		—		—			306,094			—			306,094
Other comprehensive income (loss),
net of tax (Note 8)	—		—		—		—			—			62,425			62,425
Balance at December 31, 2013	29,487,075		$	448	$	653,250	$	(1,721,030	)	$	2,037,420		$	(35,036	)	$	935,052
Exercise of stock options and restricted
stock units	69,442		—		—		6,978			(3,528		)	—			3,450
Repurchases of common stock	(336,188	)	—		—		(82,498		)	—			—			(82,498		)
Tax benefit resulting from exercise of certain employee stock options	—		—		4,495		—			—			—			4,495
Share-based compensation	—		—		3,201		—			—			—			3,201
Net earnings	—		—		—		—			58,051			—			58,051
Other comprehensive income (loss),
net of tax (Note 8)	—		—		—		—			—			1,853			1,853
Balance at March 31, 2014	29,220,329		$	448	$	660,946	$	(1,796,550	)	$	2,091,943		$	(33,183	)	$	923,604

The accompanying notes are an integral part of these interim consolidated financial statements.

- 5 -

METTLER-TOLEDO INTERNATIONAL INC.

INTERIM CONSOLIDATED STATEMENTS OF CASH FLOWS

Three months ended March 31, 2014 and 2013

(In thousands)

(unaudited)

	March 31, 2014			March 31, 2013
Cash flows from operating activities:
Net earnings	$	58,051		$	52,544
Adjustments to reconcile net earnings to net cash provided by operating activities:
Depreciation	8,420			8,881
Amortization	7,094			5,122
Deferred tax benefit	(695		)	(3,354		)
Excess tax benefits from share-based payment arrangements	(4,495		)	(256		)
Share-based compensation	3,201			2,805
Other	37			26
Increase (decrease) in cash resulting from changes in:
Trade accounts receivable, net	41,500			20,650
Inventories	(13,543		)	(5,017		)
Other current assets	511			1,282
Trade accounts payable	(26,550		)	(25,352		)
Taxes payable	(10,436		)	(11,124		)
Accruals and other	(20,250		)	(22,535		)
Net cash provided by operating activities	42,845			23,672
Cash flows from investing activities:
Proceeds from sale of property, plant and equipment	189			36
Purchase of property, plant and equipment	(16,716		)	(19,018		)
Acquisitions	(391		)	—
Net cash used in investing activities	(16,918		)	(18,982		)
Cash flows from financing activities:
Proceeds from borrowings	145,879			141,959
Repayments of borrowings	(93,229		)	(89,334		)
Proceeds from stock option exercises	3,450			7,069
Repurchases of common stock	(82,498		)	(72,300		)
Excess tax benefits from share-based payment arrangements	4,495			256
Other financing activities	(235		)	(483		)
Net cash used in financing activities	(22,138		)	(12,833		)
Effect of exchange rate changes on cash and cash equivalents	141			(350		)
Net increase (decrease) in cash and cash equivalents	3,930			(8,493		)
Cash and cash equivalents:
Beginning of period	111,874			101,702
End of period	$	115,804		$	93,209

The accompanying notes are an integral part of these interim consolidated financial statements.

METTLER-TOLEDO INTERNATIONAL INC.

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS

At March 31, 2014 – Unaudited

(In thousands, except share data, unless otherwise stated)

1. BASIS OF PRESENTATION

Mettler-Toledo International Inc. ("Mettler-Toledo" or the "Company") is a leading global supplier of precision instruments and services. The Company manufactures weighing instruments for use in laboratory, industrial, packaging, logistics and food retailing applications. The Company also manufactures several related analytical instruments and provides automated chemistry solutions used in drug and chemical compound discovery and development. In addition, the Company manufactures metal detection and other end-of-line inspection systems used in production and packaging and provides solutions for use in certain process analytics applications. The Company's primary manufacturing facilities are located in China, Germany, Switzerland, the United Kingdom and the United States. The Company's principal executive offices are located in Columbus, Ohio and Greifensee, Switzerland.

The accompanying interim consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) and include all entities in which the Company has control, which are its wholly-owned subsidiaries. The interim consolidated financial statements have been prepared without audit, pursuant to the rules and regulations of the Securities and Exchange Commission. Certain information and footnote disclosures normally included in financial statements prepared in accordance with U.S. GAAP have been condensed or omitted pursuant to such rules and regulations. The interim consolidated financial statements as of March 31, 2014 and for the three months ended March 31, 2014 and 2013 should be read in conjunction with the consolidated financial statements and the notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2013.

The accompanying interim consolidated financial statements reflect all adjustments which, in the opinion of management, are necessary for a fair statement of the results of the interim periods presented. Operating results for the three months ended March 31, 2014 are not necessarily indicative of the results to be expected for the full year ending December 31, 2014.

The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, as well as disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting periods. Actual results may differ from those estimates. A discussion of the Company’s critical accounting policies is included in Management’s Discussion and Analysis of Financial Condition and Results of Operations and the Notes to the Consolidated Financial Statements included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2013.

All intercompany transactions and balances have been eliminated.

Certain reclassifications have been made to prior year amounts to conform to the current year presentations.

2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Trade Accounts Receivable

Trade accounts receivable are recorded at the invoiced amount and do not bear interest. The allowance for doubtful accounts represents the Company’s best estimate of probable credit losses in its existing trade accounts receivable. The Company determines the allowance based upon a review of both specific accounts for collection and the age of the accounts receivable portfolio.

- 7 -

METTLER-TOLEDO INTERNATIONAL INC.

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS

At March 31, 2014 – Unaudited (Continued)

(In thousands, except share data, unless otherwise stated)

Inventories

Inventories are valued at the lower of cost or net realizable value. Cost, which includes direct materials, labor and overhead, is generally determined using the first in, first out (FIFO) method. The estimated net realizable value is based on assumptions for future demand and related pricing. Adjustments to the cost basis of the Company’s inventory are made for excess and obsolete items based on usage, orders and technological obsolescence. If actual market conditions are less favorable than those projected by management, reductions in the value of inventory may be required.

Inventories consisted of the following:

	March 31, 2014		December 31, 2013
Raw materials and parts	$	102,512	$	98,244
Work-in-progress	42,036		38,061
Finished goods	79,872		74,109
	$	224,420	$	210,414

Goodwill and Other Intangible Assets

Goodwill, representing the excess of purchase price over the net asset value of companies acquired, and indefinite-lived intangible assets are not amortized, but are reviewed for impairment annually in the fourth quarter, or more frequently if events or changes in circumstances indicate that an asset might be impaired. The annual evaluation for goodwill is generally based on an assessment of qualitative factors to determine whether it is more likely than not that the fair value of a reporting unit is less than its carrying amount. If the Company is unable to conclude that a reporting unit is not impaired after considering the totality of events and circumstances during its qualitative assessment, the Company performs the first step of the two-step impairment test by estimating the fair value of the reporting unit and comparing the fair value to the carrying amount of the reporting unit. If the carrying amount of a reporting unit exceeds its fair value, then the Company performs the second step of the goodwill impairment test to measure the amount of the impairment loss, if any. The annual evaluation for indefinite-lived intangible assets is based on valuation models that estimate fair value based on expected future cash flows and profitability projections.

Other intangible assets include indefinite-lived assets and assets subject to amortization. Where applicable, amortization is charged on a straight-line basis over the expected period to be benefited. The straight-line method of amortization reflects an appropriate allocation of the cost of the intangible assets to earnings in proportion to the amount of economic benefits obtained by the Company in each reporting period. The Company assesses the initial acquisition of intangible assets in accordance with the provisions of ASC 805 “Business Combinations” and the continued accounting for previously recognized intangible assets and goodwill in accordance with the provisions of ASC 350 “Intangibles – Goodwill and Other” and ASC 360 “Property, Plant and Equipment.”

- 8 -

METTLER-TOLEDO INTERNATIONAL INC.

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS

At March 31, 2014 – Unaudited (Continued)

(In thousands, except share data, unless otherwise stated)

Other intangible assets consisted of the following:

	March 31, 2014							December 31, 2013
	Gross Amount		Accumulated Amortization			Intangibles, Net		Gross Amount		Accumulated Amortization			Intangibles, Net
Customer relationships	$	98,329	$	(26,141	)	$	72,188	$	98,374	$	(25,313	)	$	73,061
Proven technology and patents	43,191		(30,232		)	12,959		43,233		(29,763		)	13,470
Tradename (finite life)	4,332		(1,732		)	2,600		4,300		(1,619		)	2,681
Tradename (indefinite life)	25,121		—			25,121		25,108		—			25,108
Other	758		(707		)	51		757		(659		)	98
	$	171,731	$	(58,812	)	$	112,919	$	171,772	$	(57,354	)	$	114,418

The Company recognized amortization expense associated with the above intangible assets of $1.6 million and $1.4 million for the three months ended March 31, 2014 and 2013, respectively. The annual aggregate amortization expense based on the current balance of other intangible assets is estimated at $6.0 million for 2014, $5.3 million for 2015, $5.1 million for 2016, $4.9 million for 2017, $4.6 million for 2018 and $4.3 million for 2019. Purchased intangible amortization was $1.3 million ($0.9 million after tax) for both the three months ended March 31, 2014 and 2013.

In addition to the above amortization, the Company recorded amortization expense associated with capitalized software of $5.5 million and $3.7 million for the three months ended March 31, 2014 and 2013, respectively.

Revenue Recognition

Revenue is recognized when title to a product has transferred and any significant customer obligations have been fulfilled. Standard shipping terms are generally FOB shipping point in most countries and, accordingly, title and risk of loss transfers upon shipment. In countries where title cannot legally transfer before delivery, the Company defers revenue recognition until delivery has occurred. The Company generally maintains the right to accept or reject a product return in its terms and conditions and also maintains appropriate accruals for outstanding credits. Shipping and handling costs charged to customers are included in total net sales and the associated expense is recorded in cost of sales for all periods presented. Other than a few small software applications, the Company does not sell software products without the related hardware instrument as the software is embedded in the instrument. The Company’s products typically require no significant production, modification or customization of the hardware or software that is essential to the functionality of the products. To the extent the Company’s solutions have a post-shipment obligation, such as customer acceptance, revenue is deferred until the obligation has been completed. The Company defers product revenue where installation is required, unless such installation is deemed perfunctory. The Company also sometimes enters into certain arrangements that require the separate delivery of multiple goods and/or services. These deliverables are accounted for separately if the deliverables have standalone value and the performance of undelivered items is probable and within the Company's control. The allocation of revenue between the separate deliverables is typically based on the relative selling price at the time of the sale in accordance with a number of factors including service technician billing rates, time to install and geographic location.

Further, certain products are also sold through indirect distribution channels whereby the distributor assumes any further obligations to the customer upon title transfer. Revenue is recognized on these products upon transfer of title and risk of loss to its distributors. Distributor discounts are offset against revenue at the time such revenue is recognized.

Service revenue not under contract is recognized upon the completion of the service performed. Spare parts sold on a stand-alone basis are recognized upon title and risk of loss transfer which is

- 9 -

METTLER-TOLEDO INTERNATIONAL INC.

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS

At March 31, 2014 – Unaudited (Continued)

(In thousands, except share data, unless otherwise stated)

generally at the time of shipment. Revenues from service contracts are recognized ratably over the contract period. These contracts represent an obligation to perform repair and other services including regulatory compliance qualification, calibration, certification and preventative maintenance on a customer’s pre-defined equipment over the contract period. Service contracts are separately priced and payment is typically received from the customer at the beginning of the contract period.

Warranty

The Company generally offers one-year warranties on most of its products. Product warranties are recorded at the time revenue is recognized. While the Company engages in extensive product quality programs and processes, its warranty obligation is affected by product failure rates, material usage and service costs incurred in correcting a product failure.

The Company’s accrual for product warranties is included in accrued and other liabilities in the consolidated balance sheets. Changes to the Company’s accrual for product warranties for the three months ended March 31 are as follows:

	March 31, 2014			March 31, 2013
Balance at beginning of period	$	16,991		$	16,295
Accruals for warranties	4,685			4,515
Foreign currency translation	28			(258		)
Payments / utilizations	(4,897		)	(5,002		)
Balance at end of period	$	16,807		$	15,550

Employee Termination Benefits

In situations where contractual termination benefits exist, the Company records accruals for employee termination benefits when it is probable that a liability has been incurred and the amount of the liability is reasonably estimable. All other employee termination arrangements are recognized and measured at their fair value at the communication date unless the employee is required to render additional service beyond the legal notification period, in which case the liability is recognized ratably over the future service period.

Share-Based Compensation

The Company recognizes share-based compensation expense within selling, general and administrative in the consolidated statements of operations and comprehensive income with a corresponding offset to additional paid-in capital in the consolidated balance sheet. The Company recorded $3.2 million and $2.8 million of share-based compensation expense for the three months ended March 31, 2014 and 2013, respectively.

Research and Development

Research and development costs primarily consist of salaries, consulting and other costs. The Company expenses these costs as incurred.

- 10 -

METTLER-TOLEDO INTERNATIONAL INC.

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS

At March 31, 2014 – Unaudited (Continued)

(In thousands, except share data, unless otherwise stated)

3. FINANCIAL INSTRUMENTS

As more fully described below, the Company enters into certain interest rate swap agreements in order to manage its exposure to changes in interest rates. The amount of the Company’s fixed obligation interest payments may change based upon the expiration dates of its interest rate swap agreements and the level and composition of its debt. The Company also enters into foreign currency forward contracts to limit the Company’s exposure to currency fluctuations on the respective hedged items. The Company does not use derivative financial instruments for trading purposes. For additional disclosures on the fair value of financial instruments, also see Note 4 to the interim consolidated financial statements.

Cash Flow Hedge

The Company has an interest rate swap agreement, designated as a cash flow hedge. The agreement is a forward-starting swap which had the effect of changing the floating rate LIBOR-based interest payments associated with $100 million in forecasted borrowings under the Company’s credit facility to a fixed obligation of 3.24% beginning in October 2010. The swap is recorded gross in other non-current liabilities in the consolidated balance sheet at its fair value at March 31, 2014 and December 31, 2013 of $4.7 million and $5.3 million, respectively. The amount recognized in other comprehensive income (loss) during both the three month periods ended March 31, 2014 and 2013 was a loss of $0.1 million. The effective portion of the loss reclassified from accumulated other comprehensive income (loss) to interest expense was $0.8 million ($0.5 million after tax) for both the three months ended March 31, 2014 and 2013, respectively. A derivative loss of $3.1 million based upon interest rates at March 31, 2014, is expected to be reclassified from other comprehensive income (loss) to earnings in the next twelve months. Through March 31, 2014, the hedge ineffectiveness related to this instrument was not material.

In June 2013, the Company entered into a forward starting interest rate swap agreement, designated as a cash flow hedge. The agreement will change the floating rate LIBOR-based interest payments associated with $50 million in forecasted borrowings under the Company's credit agreement to a fixed obligation of 2.52% beginning in October 2015. The swap is recorded in other non-current assets in the consolidated balance sheet at its fair value at March 31, 2014 and December 31, 2013 of $0.6 million and $1.3 million, respectively. The amount recognized in other comprehensive income (loss) during the three month period ended March 31, 2014 was a loss of $0.7 million ($0.4 million after tax).

In July 2012, the Company began entering into foreign currency forward contracts, designated as cash flow hedges, to hedge certain forecasted intercompany sales denominated in euro with its Swiss-based business. The notional amount of foreign currency forward contracts outstanding at both March 31, 2014 and December 31, 2013 was $78.2 million. The foreign currency forward contracts are recorded at their fair value in the consolidated balance sheet at March 31, 2014 in other current assets of $0.5 million. At December 31, 2013, the foreign currency forward contracts are recorded gross at their fair value in the consolidated balance in other current assets of $0.3 million and in accrued and other liabilities of $0.1 million, respectively. The Company records the effective portion of the cash flow derivative hedging gains and losses in accumulated other comprehensive income (loss), net of tax and reclassifies these amounts into earnings in the period in which the transactions affect earnings. The amount recognized in other comprehensive income (loss) during the three months period ended March 31, 2014 and 2013 was a gain of $0.3 million ($0.2 million after tax) and a loss of $0.8 million ($0.6 million after tax), respectively. The effective portion reclassified from accumulated other comprehensive income (loss) to cost of sales was an immaterial gain for the three months ended March 31, 2014 and a loss of $0.5 million ($0.4 million after tax) for the three months ended March 31, 2013, respectively. A derivative gain of $0.5 million as of March 31, 2014 is expected to be recognized in earnings in the next twelve months. Through March 31, 2014 no hedge ineffectiveness has occurred in relation to this hedge.

- 11 -

METTLER-TOLEDO INTERNATIONAL INC.

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS

At March 31, 2014 – Unaudited (Continued)

(In thousands, except share data, unless otherwise stated)

Other Derivatives

The Company enters into foreign currency forward contracts in order to economically hedge short-term intercompany balances largely denominated in Swiss franc and other major European currencies with its foreign businesses. In accordance with U.S. GAAP, these contracts are considered “derivatives not designated as hedging instruments.” Gains or losses on these instruments are reported in current earnings. The foreign currency forward contracts were reported gross at their fair value in the consolidated balance sheet at March 31, 2014 and December 31, 2013 in other current assets of $0.2 million and $0.7 million, respectively, and other liabilities of $0.8 million and $0.4 million, respectively. The Company recognized in other charges (income), net a loss of $0.2 million and $2.2 million, during the three month periods ended March 31, 2014 and 2013, respectively. At March 31, 2014 and December 31, 2013, these contracts had a notional value of $173.9 million and $180.3 million, respectively.

4. FAIR VALUE MEASUREMENTS

At March 31, 2014 and December 31, 2013, the Company had derivative assets totaling $1.3 million and $2.3 million, respectively, and derivative liabilities totaling $5.4 million and $5.8 million, respectively. The fair values of the interest rate swap agreement, foreign currency forward contracts designated as cash flow hedges and foreign currency forward contracts that economically hedge short-term intercompany balances are estimated based upon inputs from current valuation information obtained from dealer quotes and priced with observable market assumptions and appropriate valuation adjustments for credit risk. The Company has evaluated the valuation methodologies used to develop the fair values by dealers in order to determine whether such valuations are representative of an exit price in the Company’s principal market. In addition, the Company uses an internally developed model to perform testing on the valuations received from brokers. The Company has also considered both its own credit risk and counterparty credit risk in determining fair value and determined these adjustments were insignificant at March 31, 2014 and December 31, 2013.

At March 31, 2014 and December 31, 2013, the Company had $10.8 million and $16.9 million of cash equivalents, respectively, the fair value of which is determined through quoted and corroborated prices in active markets. The fair value of cash equivalents approximates cost.

The difference between the fair value and carrying value of the Company's long-term debt is not material and is classified in Level 2 and Level 3 of the fair value hierarchy. The fair value of the Company's debt is estimated based on either similar issues or other inputs derived from available market information, including interest rates, term of debt and creditworthiness.

Under U.S. GAAP, fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. A fair value measurement consists of observable and unobservable inputs that reflect the assumptions that a market participant would use in pricing an asset or liability.

A fair value hierarchy has been established that categorizes these inputs into three levels:

Level 1: Quoted prices in active markets for identical assets and liabilities

Level 2: Observable inputs other than quoted prices in active markets for identical assets and liabilities

Level 3: Unobservable inputs

- 12 -

METTLER-TOLEDO INTERNATIONAL INC.

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS

At March 31, 2014 – Unaudited (Continued)

(In thousands, except share data, unless otherwise stated)

The following table presents for each of these hierarchy levels, the Company’s assets and liabilities that are measured at fair value on a recurring basis at March 31, 2014 and December 31, 2013:

	March 31, 2014								December 31, 2013
	Total		Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3
Assets:
Cash equivalents	$	10,787	$	—	$	10,787	$	—	$	16,868	$	—	$	16,868	$	—
Interest rate swap agreement	565		—		565		—		1,269		—		1,269		—
Foreign currency forward contracts designated as cash flow hedge	469		—		469		—		268		—		268		—
Foreign currency forward contracts not designated as hedging instruments	235		—		235		—		719		—		719		—
Total	$	12,056	$	—	$	12,056	$	—	$	19,124	$	—	$	19,124	$	—
Liabilities:
Interest rate swap agreement	$	4,668	$	—	$	4,668	$	—	$	5,312	$	—	$	5,312	$	—
Foreign currency forward contracts designated as cash flow hedge	3		—		3		—		103		—		103		—
Foreign currency forward contracts not designated as hedging instruments	775		—		775		—		355		—		355		—
Total	$	5,446	$	—	$	5,446	$	—	$	5,770	$	—	$	5,770	$	—

5. INCOME TAXES

The provision for taxes is based upon using the Company's projected annual effective tax rate of 24% for the three month period ended March 31, 2014.

6. DEBT

Debt consisted of the following at March 31, 2014:

	March 31, 2014
	U.S. Dollar		Other Principal Trading Currencies			Total
6.30% $100 million Senior Notes due June 25, 2015	$	100,000	$	—		$	100,000
3.67% $50 million Senior Notes due December 17, 2022	50,000		—			50,000
4.10% $50 million Senior Notes due September 19, 2023	50,000		—			50,000
Credit agreement	231,584		17,998			249,582
Other local arrangements	—		16,255			16,255
Total debt	431,584		34,253			465,837
Less: current portion	—		(16,255		)	(16,255		)
Total long-term debt	$	431,584	$	17,998		$	449,582

As of March 31, 2014, the Company had $546.4 million of availability remaining under the credit agreement.

- 13 -

METTLER-TOLEDO INTERNATIONAL INC.

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS

At March 31, 2014 – Unaudited (Continued)

(In thousands, except share data, unless otherwise stated)

7. SHARE REPURCHASE PROGRAM AND TREASURY STOCK

The Company has a $3 billion share repurchase program, of which there were $809.9 million of remaining common shares authorized to be repurchased under the program. We expect that the authorization will be utilized over the next few years. The share repurchases are expected to be funded from cash balances, borrowings and cash generated from operating activities. Repurchases will be made through open market transactions, and the amount and timing of purchases will depend on business and market conditions, the stock price, trading restrictions, the level of acquisition activity and other factors.

The Company has purchased 21.8 million shares since the inception of the program through March 31, 2014. During the three months ended March 31, 2014 and 2013, the Company spent $82.5 million and $72.3 million on the repurchase of 336,188 shares and 341,109 shares at an average price per share of $245.37 and $211.94, respectively. The Company reissued 69,442 shares and 117,014 shares held in treasury for the exercise of stock options and restricted stock units during the three months ended March 31, 2014 and 2013, respectively.

8. ACCUMULATED OTHER COMPREHENSIVE INCOME

The following table presents changes in accumulated other comprehensive income by component for the period ended March 31, 2014:

	Currency Translation Adjustment, Net of Tax		Net Unrealized Gain (Loss) on Cash Flow Hedging Arrangements, Net of Tax			Pension and Post-Retirement Benefit Related Items, Net of Tax			Total
Balance at December 31, 2013	$	77,915	$	(2,433	)	$	(110,518	)	$	(35,036	)
Other comprehensive income (loss), net of tax:
Unrealized gains (losses) cash flow hedging arrangements	—		(281		)	—			(281		)
Foreign currency translation adjustment	1,345		43			(90		)	1,298
Amounts recognized from accumulated other comprehensive income (loss), net of tax	—		440			396			836
Net change in other comprehensive income (loss), net of tax	1,345		202			306			1,853
Balance at March 31, 2014	$	79,260	$	(2,231	)	$	(110,212	)	$	(33,183	)

	Currency Translation Adjustment, Net of Tax			Net Unrealized Gain (Loss) on Cash Flow Hedging Arrangements, Net of Tax			Pension and Post-Retirement Benefit Related Items, Net of Tax			Total
Balance at December 31, 2012	$	56,012		$	(5,438	)	$	(148,035	)	$	(97,461	)
Other comprehensive income (loss), net of tax:
Unrealized gains (losses) cash flow hedging arrangements	—			(653		)	—			(653		)
Foreign currency translation adjustment	(23,246		)	(10		)	4,287			(18,969		)
Amounts recognized from accumulated other comprehensive income (loss), net of tax	—			842			1,665			2,507
Net change in other comprehensive income (loss), net of tax	(23,246		)	179			5,952			(17,115		)
Balance at March 31, 2013	$	32,766		$	(5,259	)	$	(142,083	)	$	(114,576	)

- 14 -

METTLER-TOLEDO INTERNATIONAL INC.

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS

At March 31, 2014 – Unaudited (Continued)

(In thousands, except share data, unless otherwise stated)

The following table presents amounts recognized from accumulated other comprehensive income for the three months ended March 31:

	2014			2013
	Amount Recognized From Accumulated Other Comprehensive Income (Loss)					Location of Amounts Recognized in Earnings
Effective portion of (gains) losses on cash flow hedging arrangements:
Interest rate swap agreements	$	768		$	755	Interest expense
Foreign currency forward contracts	(41		)	475		Cost of sales - products
Total before taxes	727			1,230
Provision for taxes	287			388		Provision for taxes
Total, net of taxes	$	440		$	842
Recognition of defined benefit pension and post-retirement items:
Recognition of actuarial (gains) losses, plan amendments and prior service cost, before taxes	$	712		$	2,572	(a)
Provision for taxes	316			907		Provision for taxes
Total, net of taxes	$	396		$	1,665

(a) These accumulated other comprehensive income (loss) components are included in the computation of net periodic pension and post-retirement cost. See Note 10 for additional details for the three months ended March 31, 2014 and 2013.

Comprehensive income (loss), net of tax consisted of the following:

	March 31, 2014		March 31, 2013
Net earnings	$	58,051	$	52,544
Other comprehensive income (loss), net of tax	1,853		$	(17,115	)
Comprehensive income (loss), net of tax	$	59,904	$	35,429

9. EARNINGS PER COMMON SHARE

In accordance with the treasury stock method, the Company has included the following common equivalent shares in the calculation of diluted weighted average number of common shares outstanding for the three months ended March 31, relating to outstanding stock options and restricted stock units:

	2014	2013
Three months ended	718,013	802,410

Outstanding options and restricted stock units to purchase or receive 147,159 and 141,621 shares of common stock for the three months ended March 31, 2014 and 2013, respectively, have been excluded from the calculation of diluted weighted average number of common and common equivalent shares as such options and restricted stock units would be anti-dilutive.

- 15 -

METTLER-TOLEDO INTERNATIONAL INC.

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS

At March 31, 2014 – Unaudited (Continued)

(In thousands, except share data, unless otherwise stated)

10. NET PERIODIC BENEFIT COST

Net periodic pension cost for the Company’s defined benefit pension plans and U.S. post-retirement medical plan includes the following components for the three months ended March 31:

	U.S. Pension Benefits						Non-U.S. Pension Benefits						Other U.S. Post-retirement Benefits						Total
	2014			2013			2014			2013			2014			2013			2014			2013
Service cost, net	$	223		$	123		$	3,962		$	4,369		$	43		$	54		$	4,228		$	4,546
Interest cost on projected benefit obligations	1,599			1,439			5,483			4,883			60			101			7,142			6,423
Expected return on plan assets	(2,137		)	(1,788		)	(9,544		)	(8,692		)	—			—			(11,681		)	(10,480		)
Recognition of prior service cost	—			—			(1,040		)	(994		)	(195		)	22			(1,235		)	(972		)
Recognition of actuarial losses/(gains)	1,200			1,945			1,106			1,846			(359		)	(247		)	1,947			3,544
Net periodic pension cost/(credit)	$	885		$	1,719		$	(33	)	$	1,412		$	(451	)	$	(70	)	$	401		$	3,061

As previously disclosed in the Company’s Annual Report on Form 10-K for the year ended December 31, 2013, the Company expects to make employer contributions of approximately $21.8 million to its non-U.S. pension plan and employer contributions of approximately $0.5 million to itsU.S. post-retirement medical plan during the year ended December 31, 2014. These estimates may change based upon several factors, including fluctuations in currency exchange rates, actual returns on plan assets and changes in legal requirements.

11. RESTRUCTURING CHARGES

For the three months ending March 31, 2014, we have incurred $1.5 million of restructuring expenses which primarily comprise employee related costs related to cost reduction measures initiated in prior periods. Liabilities related to restructuring activities are included in accrued and other liabilities in the consolidated balance sheet.

A rollforward of the Company’s accrual for restructuring activities for the three months ended March 31, 2014 is as follows:

	Employee Related			Other			Total
Balance at December 31, 2013	$	13,054		$	131		$	13,185
Restructuring charges	1,246			246			1,492
Cash payments / utilization	(2,897		)	(244		)	(3,141		)
Impact of foreign currency	(30		)	—			(30		)
Balance at March 31, 2014	$	11,373		$	133		$	11,506

12. OTHER CHARGES (INCOME), NET

Other charges (income), net consists primarily of interest income, (gains) losses from foreign currency transactions and other items.

- 16 -

METTLER-TOLEDO INTERNATIONAL INC.

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS

At March 31, 2014 – Unaudited (Continued)

(In thousands, except share data, unless otherwise stated)

13. SEGMENT REPORTING

As disclosed in Note 18 to the Company's consolidated financial statements for the year ending December 31, 2013, 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, 2014	Customers		Segments			Sales			Profit			Goodwill
U.S. Operations	$	163,994	$	20,775		$	184,769		$	23,695		$	307,933
Swiss Operations	32,056		108,225			140,281			36,166			24,420
Western European Operations	161,517		29,438			190,955			20,876			109,056
Chinese Operations	91,621		35,544			127,165			25,799			738
Other (a)	101,433		1,135			102,568			9,159			14,795
Eliminations and Corporate (b)	—		(195,117		)	(195,117		)	(24,742		)	—
Total	$	550,621	$	—		$	550,621		$	90,953		$	456,942

	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	$	158,389	$	18,377		$	176,766		$	24,657		$	307,933
Swiss Operations	30,697		97,123			127,820			34,201			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)	98,374		1,420			99,794			9,487			13,877
Eliminations and Corporate (b)	—		(175,434		)	(175,434		)	(25,858		)	—
Total	$	524,355	$	—		$	524,355		$	85,433		$	445,709

(a) Other includes reporting units in Eastern Europe, Latin America, East 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.

- 17 -

METTLER-TOLEDO INTERNATIONAL INC.

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS

At March 31, 2014 – Unaudited (Continued)

(In thousands, except share data, unless otherwise stated)

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

	Three Months Ended
	March 31, 2014		March 31, 2013
Earnings before taxes	$	76,384	$	69,136
Amortization	7,094		5,122
Interest expense	5,666		5,400
Restructuring charges	1,492		5,002
Other charges (income), net	317		773
Segment profit	$	90,953	$	85,433

During the three months ended March 31, 2014, restructuring charges of $1.5 million were recognized, of which $0.6 million, $0.3 million, $0.1 million, $0.2 million and $0.3 million related to the Company’s U.S., Swiss, Western European, China, and Other operations, respectively. Restructuring charges of $5.0 million were recognized during the three months ended March 31, 2013, 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.

14. CONTINGENCIES

The Company is party to various legal proceedings, including certain environmental matters, incidental to the normal course of business. Management does not expect that any of such proceedings, either individually or in the aggregate, will have a material adverse effect on the Company’s financial condition, results of operations or cash flows.

- 18 -

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations

The following discussion and analysis of our financial condition and results of operations should be read in conjunction with the Unaudited Interim Consolidated Financial Statements included herein.

General

Our interim consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America. Operating results for the three months ended March 31, 2014 are not necessarily indicative of the results to be expected for the full year ending December 31, 2014.

Local currency changes exclude the effect of currency exchange rate fluctuations. Local currency amounts are determined by translating current and previous year consolidated financial information at an index utilizing historical currency exchange rates. We believe local currency information provides a helpful assessment of business performance and a useful measure of results between periods. We do not, nor do we suggest that investors should, consider such non-GAAP financial measures in isolation from, or as a substitute for, financial information prepared in accordance with GAAP. We present non-GAAP financial measures in reporting our financial results to provide investors with an additional analytical tool to evaluate our operating results.

Results of Operations – Consolidated

The following tables set forth certain items from our interim consolidated statements of operations and comprehensive income for the three month periods ended March 31, 2014 and 2013 (amounts in thousands).

	Three months ended March 31,
	2014			2013
	(unaudited)		%	(unaudited)		%
Net sales	$	550,621	100.0	$	524,355	100.0
Cost of sales	257,980		46.9	245,197		46.8
Gross profit	292,641		53.1	279,158		53.2
Research and development	29,497		5.4	27,700		5.3
Selling, general and administrative	172,191		31.3	166,025		31.7
Amortization	7,094		1.3	5,122		1.0
Interest expense	5,666		1.0	5,400		1.0
Restructuring charges	1,492		0.3	5,002		1.0
Other charges (income), net	317		—	773		—
Earnings before taxes	76,384		13.8	69,136		13.2
Provision for taxes	18,333		3.3	16,592		3.2
Net earnings	$	58,051	10.5	$	52,544	10.0

Net sales

Net sales were $550.6 million for the three months ended March 31, 2014, compared to $524.4 million for the corresponding period in 2013. This represents an increase in U.S. dollars of 5%. Excluding the effect of currency exchange rate fluctuations, or in local currencies, net sales increased 4% for the three months ended March 31, 2014. Market conditions improved during the three months ended March 31, 2014, particularly in Europe. However global market conditions remain uncertain, especially in emerging markets, and we continue to be cautious regarding our sales growth outlook.

- 19 -

Net sales by geographic destination for the three months ended March 31, 2014, in U.S. dollars increased 2% in the Americas, 12% in Europe and were flat in Asia/Rest of World. In local currencies, our net sales by geographic destination increased 3% in the Americas, 9% in Europe and 1% in Asia/Rest of World. Net sales in local currencies for Asia/Rest of World for the three months ended 2014 were reduced by approximately 1% due to the exit of certain industrial-related businesses in China. A discussion of sales by operating segment is included below.

As described in Note 18 to our consolidated financial statements for the year ended December 31, 2013, our net sales comprise product sales of precision instruments and related services. Service revenues are primarily derived from repair and other services, including regulatory compliance qualification, calibration, certification, preventative maintenance and spare parts.

Net sales of products increased 5% in U.S. dollars and 4% in local currency for the three months ended March 31, 2014 compared to the prior period. Service revenue (including spare parts) increased 5% in both U.S. dollars and local currency during the three months ended March 31, 2014 compared to the corresponding period in 2013.

Net sales of our laboratory-related products, which represented approximately 47% of our total net sales for the three months ended March 31, 2014, increased 7% in both U.S. dollars and local currencies during the three months ended March 31, 2014 principally driven by strong volume and favorable price realization in most categories, especially analytical instruments and laboratory balances.

Net sales of our industrial-related products, which represented approximately 44% of our total net sales for the three months ended March 31, 2014, increased 2% in U.S. dollars and 1% in local currencies during the three months ended March 31, 2014. We experienced solid sales growth in our core-industrial products in the Americas and Europe related to higher sales volumes and favorable price realization during the three months ended March 31, 2014. These results were offset by a sales volume decline in core-industrial products in Asia/Rest of World, particularly China. Overall Chinese market conditions for our industrial products remain weak. Growth in China can be expected to be volatile and the timing of a recovery can be uncertain.

Net sales in our food retailing markets, which represented approximately 9% of our total net sales for the three months ended March 31, 2014, increased 10% in U.S. dollars and 8% in local currencies during the three months ended March 31, 2014, with particularly strong project activity in Europe.

Gross profit

Gross profit as a percentage of net sales was 53.1% for the three months ended March 31, 2014 compared to 53.2% for the corresponding period in 2013.

Gross profit as a percentage of net sales for products was 57.1% for both the three month periods ended March 31, 2014 and 2013.

Gross profit as a percentage of net sales for services (including spare parts) was 40.2% for the three months ended March 31, 2014 compared to 40.5% for the corresponding period in 2013.

The decrease in gross profit as a percentage of net sales for the three months ended March 31, 2014 includes unfavorable currency, business mix and other charges, offset in part by increased price realization and reduced material costs.

- 20 -

Research and development and selling, general and administrative expenses

Research and development expenses as a percentage of net sales were 5.4% for the three months ended March 31, 2014 compared to 5.3% for the corresponding period during 2013. Research and development expenses increased 6% in U.S. dollars and 4% in local currencies, during the three months ended March 31, 2014 compared to the corresponding period in 2013 relating to the timing of research and development project activity.

Selling, general and administrative expenses as a percentage of net sales were 31.3% for the three months ended March 31, 2014 compared to 31.7% in the corresponding period during 2013. Selling, general and administrative expenses increased 4% in U.S. dollars and 3% in local currencies, during the three months ended March 31, 2014 compared to the corresponding period in 2013. The increase includes higher cash incentive compensation as compared to prior year, partially offset by lower employee benefit costs.

Amortization, interest expense, other charges (income), net and taxes

Amortization expense was $7.1 million for the three months ended March 31, 2014 and $5.1 million for the corresponding period in 2013. The increase in amortization expense is primarily related to recent investment in information technology, including the Company's Blue Ocean program.

Interest expense was $5.7 million for the three months ended March 31, 2014 and $5.4 million for the corresponding period in 2013. The increase in interest expense for the three month period ended March 31, 2014 is primarily a result of an increase in average borrowings.

Other charges (income), net consists primarily of (gains) losses from foreign currency transactions, interest income and other items.

The provision for taxes is based upon using our projected annual effective tax rate of 24% for the three month periods ended March 31, 2014 and 2013. Our consolidated income tax rate is lower than the U.S. statutory rate primarily because of benefits from lower-taxed non-U.S. operations. The most significant of these lower-taxed operations are in Switzerland and China.

Results of Operations – by Operating Segment

The following is a discussion of the financial results of our operating segments. We currently have five reportable segments: U.S. Operations, Swiss Operations, Western European Operations, Chinese Operations and Other. A more detailed description of these segments is outlined in Note 18 to our consolidated financial statements for the year ended December 31, 2013.

U.S. Operations (amounts in thousands)

	Three months ended March 31,
	2014		2013		%
Total net sales	$	184,769	$	176,766	5	%
Net sales to external customers	$	163,994	$	158,389	4	%
Segment profit	$	23,695	$	24,657	(4	)%

Total net sales and net sales to external customers increased 5% and 4%, respectively for the three months ended March 31, 2014 compared with the corresponding period in 2013. The increase in total net sales and net sales to external customers for the three months ended March 31, 2014 primarily reflects strong growth in laboratory balances and core-industrial products due to increased sales volume and favorable price realization.

- 21 -

Segment profit decreased $1.0 million for the three months ended March 31, 2014 compared to the corresponding period in 2013 primarily related to investments in our product inspection businesses.

Swiss Operations (amounts in thousands)

	Three months ended March 31,
	2014		2013		%1)
Total net sales	$	140,281	$	127,820	10	%
Net sales to external customers	$	32,056	$	30,697	4	%
Segment profit	$	36,166	$	34,201	6	%

1) Represents U.S. dollar (decline) growth for net sales and segment profit.

Total net sales increased 10% in U.S. dollars and 5% in local currency for the three months ended March 31, 2014 compared to the corresponding period in 2013. Net sales to external customers increased 4% in U.S. dollars and 1% in local currency during the three months ended March 31, 2014 compared to the corresponding period in 2013. The increase in local currency net sales to external customers for the three month period ended March 31, 2014 primarily related to sales volume increases in our laboratory-related products, particularly in analytical instruments offset in part by a decline in core-industrial products.

Segment profit increased $2.0 million for the three month period ended March 31, 2014 compared to the corresponding period in 2013. Segment profit includes the impact of increased sales, partially offset by unfavorable currency.

Western European Operations (amounts in thousands)

	Three months ended March 31,
	2014		2013		%1)
Total net sales	$	190,955	$	174,280	10	%
Net sales to external customers	$	161,517	$	146,168	11	%
Segment profit	$	20,876	$	18,298	14	%

1) Represents U.S. dollar (decline) growth for net sales and segment profit.

Total net sales increased 10% in U.S. dollars and 5% in local currency during the three month period ended March 31, 2014 compared to the corresponding period in 2013. Net sales to external customers increased 11% in U.S. dollars and 7% in local currency for the same period versus the prior year comparable period. Total net sales and net sales to external customers for the three months ended March 31, 2014 includes volume increases and favorable price realization across most product categories, particularly in laboratory balances and core-industrial products, as well as strong project activity in food retailing.

Segment profit increased $2.6 million for the three month period ended March 31, 2014 compared to the corresponding period in 2013 primarily due to increased sales and benefits from our cost reduction activities.

- 22 -

Chinese Operations (amounts in thousands)

	Three months ended March 31,
	2014		2013		%1)
Total net sales	$	127,165	$	121,129	5	%
Net sales to external customers	$	91,621	$	90,727	1	%
Segment profit	$	25,799	$	24,648	5	%

1) Represents U.S. dollar (decline) growth for net sales and segment profit.

Total net sales increased 5% in U.S. dollars and 2% in local currency during the three months ended March 31, 2014 compared to the corresponding period in 2013. Net sales to external customers increased 1% in U.S. dollars and decreased 1% in local currency during the three months ended March 31, 2014 as compared to the corresponding period in 2013. The decrease in net sales to external customers during the three months ended March 31, 2014 reflects a decline in sales volume of our core-industrial products offset in part by strong growth in analytical instruments and laboratory balances. Approximately 1% of the local currency sales decline in 2014 also relates to the exit of certain industrial-related businesses. Overall Chinese market conditions for our industrial products remain weak. Growth in China can be expected to be volatile and the timing of a recovery can be uncertain.

Segment profit increased $1.2 million for the three month period ended March 31, 2014 compared to the corresponding period in 2013. The increase in segment profit for the three month period ended March 31, 2014 includes increased inter-segment sales and favorable business mix.

Other (amounts in thousands)

	Three months ended March 31,
	2014		2013		%1)
Total net sales	$	102,568	$	99,794	3	%
Net sales to external customers	$	101,433	$	98,374	3	%
Segment profit	$	9,159	$	9,487	(3	)%

1) Represents U.S. dollar (decline) growth for net sales and segment profit.

Total net sales and net sales to external customers increased 3% in US dollars and 9% in local currency during the three month period ended March 31, 2014 compared to the corresponding period in 2013. The increase in total net sales and net sales to external customers primarily reflects increased sales volume across most product categories, particularly in Japan, Australia and Eastern Europe.

Segment profit decreased $0.3 million for the three months ended March 31, 2014 compared to the corresponding period in 2013. The decrease in segment profit is primarily due to unfavorable currency and higher inter-segment product costs, offset in part by the impacted of increased net sales.

Liquidity and Capital Resources

Liquidity is our ability to generate sufficient cash flows from operating activities to meet our obligations and commitments. In addition, liquidity includes the ability to obtain appropriate financing. Currently, our financing requirements are primarily driven by working capital requirements, capital expenditures, share repurchases and acquisitions.

Cash provided by operating activities totaled $42.8 million during the three months ended March 31, 2014, compared to $23.7 million in the corresponding period in 2013. The increase in 2014 is primarily due to the timing of accounts receivable and tax payments compared to the three

- 23 -

months ended March 31, 2013, offset in part by increased inventory levels and cash incentive payments.

Capital expenditures are made primarily for investments in information systems and technology, machinery, equipment and the purchase and expansion of facilities. Our capital expenditures totaled $16.7 million for the three months ended March 31, 2014 compared to $19.0 million in the corresponding period in 2013.

We plan to repatriate earnings from China, Switzerland, Germany, the United Kingdom and certain other countries in future years and expect the only additional cost associated with the repatriation of such earnings outside the United States will be withholding taxes. All other undistributed earnings are considered to be permanently reinvested. As of March 31, 2014, we have an immaterial amount of cash and cash equivalents outside the United States where undistributed earnings are considered permanently reinvested. Accordingly, we believe the tax impact associated with repatriating our undistributed foreign earnings will not have a material effect on our liquidity.

Senior Notes and Credit Facility Agreement

Our debt consisted of the following at March 31, 2014:

	March 31, 2014
	U.S. Dollar		Other Principal Trading Currencies			Total
6.30% $100 million Senior Notes due June 25, 2015	$	100,000	$	—		$	100,000
3.67% $50 million Senior Notes due December 17, 2022	50,000		—			50,000
4.10% $50 million Senior Notes due September 19, 2023	50,000		—			50,000
Credit agreement	231,584		17,998			249,582
Other local arrangements	—		16,255			16,255
Total debt	431,584		34,253			465,837
Less: current portion	—		(16,255		)	(16,255		)
Total long-term debt	$	431,584	$	17,998		$	449,582

As of March 31, 2014, approximately $546.4 million was available under our credit agreement. Changes in exchange rates between the currencies in which we generate cash flows and the currencies in which our borrowings are denominated affect our liquidity. In addition, because we borrow in a variety of currencies, our debt balances fluctuate due to changes in exchange rates.

We currently believe that cash flow from operating activities, together with liquidity available under our credit facility and local working capital facilities, will be sufficient to fund currently anticipated working capital needs and capital spending requirements for at least the foreseeable future.

We continue to explore potential acquisitions. In connection with any acquisition, we may incur additional indebtedness.

Share Repurchase Program

We have a $3 billion share repurchase program, of which there were $809.9 million of remaining common shares authorized to be repurchased under the program. We expect that the authorization will be utilized over the next few years. The share repurchases are expected to be funded from cash balances, borrowings and cash generated from operating activities. Repurchases will be made through open market transactions, and the amount and timing of purchases will depend on business and market conditions, the stock price, trading restrictions, the level of acquisition activity and other factors.

- 24 -

We have purchased 21.8 million shares since the inception of the program through March 31, 2014. During the three months ended March 31, 2014 and 2013, we spent $82.5 million and $72.3 million on the repurchase of 336,188 shares and 341,109 shares at an average price per share of $245.37 and $211.94, respectively. We reissued 69,442 shares and 117,014 shares held in treasury for the exercise of stock options and restricted stock units during the three months ended March 31, 2014 and 2013, respectively.

Effect of Currency on Results of Operations

Our earnings are affected by changing exchange rates. We are most sensitive to changes in the exchange rates between the Swiss franc, euro, and U.S. dollar. We have more Swiss franc expenses than we do Swiss franc sales because we develop and manufacture products in Switzerland that we sell globally, and have a number of corporate functions located in Switzerland. When the Swiss franc strengthens against our other trading currencies, particularly the U.S. dollar and euro, our earnings go down. We also have significantly more sales in the euro than we do expenses. When the euro weakens against the U.S. dollar and Swiss franc, our earnings also go down.

A few factors help us manage these exchange rate risks. In September 2011, the Swiss National Bank established an exchange rate floor of 1.20 Swiss francs per euro. The floor has effectively stopped the strengthening of the Swiss franc beyond the 1.20 level. We do not know how long the Swiss National Bank will maintain this exchange rate floor. Additionally, in the third quarter of 2012, we entered into foreign currency forward contracts that reduce approximately 75% of our exposure from the Swiss franc strengthening against the euro. The forward contracts expire in April 2015. Absent these forward exchange contracts, we estimate a 1% strengthening of the Swiss franc against the euro would reduce our earnings before tax by approximately $1.2 million annually. The impact on our earnings before tax of the Swiss franc strengthening 1% against the U.S. dollar is approximately $0.4 million annually.

We also conduct business in many geographies throughout the world, including Asia Pacific, the United Kingdom, Eastern Europe, Latin America and Canada. Fluctuations in these currency exchange rates against the U.S. dollar can also affect our operating results. The most significant of these currency exposures is the Chinese Renminbi. The impact on our earnings before tax of the Chinese Renminbi weakening 1% against the U.S. dollar is a loss of approximately $0.7 million annually. In addition to the effects of exchange rate movements on operating profits, our debt levels can fluctuate due to changes in exchange rates, particularly between the U.S. dollar and the Swiss franc. Based on our outstanding debt at December 31, 2013, we estimate that a 10% weakening of the U.S. dollar against the currencies in which our debt is denominated would result in an increase of approximately $3.8 million in the reported U.S. dollar value of the debt.

Recent Accounting Pronouncements

In January 2014, the Company adopted ASU 2013-11 "Income Taxes." The amendment provided further guidance to the balance sheet presentation of unrecognized tax benefits when a net operating loss or similar tax loss carryforwards, or a tax credit carryforward exists. The adoption of this guidance did not have a material impact to the Company's consolidated results of operations or financial position.

- 25 -

Forward-Looking Statements Disclaimer

You should not rely on forward-looking statements to predict our actual results. Our actual results or performance may be materially different than reflected in forward-looking statements because of various risks and uncertainties. You can identify forward-looking statements by terminology such as “may,” “will,” “could,” “would,” “should,” “expect,” “plan,” “anticipate,” “intend,” “believe,” “estimate,” “predict,” “potential” or “continue”.

We make forward-looking statements about future events or our future financial performance, including earnings and sales growth, earnings per share, strategic plans and contingency plans, growth opportunities or economic downturns, our ability to respond to changes in market conditions, planned research and development efforts and product introductions, adequacy of facilities, access to and the costs of raw materials, shipping and supplier costs, gross margins, customer demand, our competitive position , capital expenditures, cash flow, tax-related matters, compliance with laws, and effects of acquisitions.

Our forward-looking statements may not be accurate or complete, and we do not intend to update or revise them in light of actual results. New risks also periodically arise. Please consider the risks and factors that could cause our results to differ materially from what is described in our forward-looking statements. See in particular “Factors Affecting Our Future Operating Results” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” of our 2013 Annual Report on Form 10-K.

Item 3. Quantitative and Qualitative Disclosures About Market Risk

As of March 31, 2014, there was no material change in the information provided under Item 7A in the Company’s Annual Report on Form 10-K for the year ended December 31, 2013.

Item 4. Controls and Procedures

Under the supervision and with the participation of our management, including the Chief Executive Officer, Principal Financial Officer and Principal Accounting Officer, we have evaluated the effectiveness of our disclosure controls and procedures as required by Exchange Act Rule 13a-15(b) as of the end of the period covered by this report. Based upon that evaluation, the Chief Executive Officer, Principal Financial Officer and Principal Accounting Officer, have concluded that these disclosure controls and procedures are effective. There were no changes in our internal control over financial reporting during the quarter ended March 31, 2014 that have materially affected, or are reasonably likely to materially affect, our internal control over financial reporting.

- 26 -

PART II. OTHER INFORMATION

Item 1. Legal Proceedings.None

Item 1A. Risk Factors.

For the three months ended March 31, 2014 there were no material changes from risk factors disclosed in Part I, Item 1A of the Company’s Annual Report on Form 10-K for the year ended December 31, 2013.

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds.

Issuer Purchases of Equity Securities

	(a)	(b)		(c)	(d)
	Total Number of Shares Purchased	Average Price Paid per Share		Total Number of Shares Purchased as Part of Publicly Announced Program	Approximate Dollar Value (in thousands of Shares that may yet be Purchased under the Program)
January 1 to January 31, 2014	98,173	$	248.94	98,173	$	867,935
February 1 to February 28, 2014	107,301	$	247.10	107,301	$	841,418
March 1 to March 31, 2014	130,714	$	241.26	130,714	$	809,879
Total	336,188	$	245.37	336,188	$	809,879

We have a share repurchase program, of which there is $809.9 million remaining to repurchase common shares as of March 31, 2014. We have purchased 21.8 million shares since the inception of the program through March 31, 2014.

During the three months ended March 31, 2014 and 2013, we spent $82.5 million and $72.3 million on the repurchase of 336,188 and 341,109 shares at an average price per share of $245.37 and $211.94, respectively. We reissued 69,442 shares and 117,014 shares held in treasury for the exercise of stock options and restricted stock units for the three months ended March 31, 2014 and 2013, respectively.

Item 3. Defaults Upon Senior Securities.None

Item 5. Other information.None

Item 6. Exhibits. See Exhibit Index below.

- 27 -

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

		Mettler-Toledo International Inc.
Date:	May 9, 2014	By:	/s/ Shawn P. Vadala
			Shawn P. Vadala
			Chief Financial Officer and Principal Accounting Officer

- 28 -

EXHIBIT INDEX

Exhibit No.		Description
	31.1*	Certification of the Chief Executive Officer Pursuant to Section 302 of the Sarbanes — Oxley Act of 2002
	31.2*	Certification of the Executive Vice President Pursuant to Section 302 of the Sarbanes — Oxley Act of 2002
	31.3*	Certification of the Chief Financial Officer Pursuant to Section 302 of the Sarbanes — Oxley Act of 2002
	32*	Certification Pursuant to Section 906 of the Sarbanes — Oxley Act of 2002
	101.INS*	XBRL Instance Document
	101.SCH*	XBRL Taxonomy Extension Schema Document
	101.CAL*	XBRL Taxonomy Extension Calculation Linkbase Document
	101.LAB*	XBRL Taxonomy Extension Label Linkbase Document
	101.PRE*	XBRL Taxonomy Extension Presentation Linkbase Document
	101.DEF*	XBRL Taxonomy Extension Definition Linkbase Document

_______________________

*    Filed herewith

- 29 -

EX-31.1

Exhibit 31.1

Certification Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002

I, Olivier A. Filliol, certify that:

(1)I have reviewed this quarterly report on Form 10-Q of Mettler-Toledo International Inc.;

(2)Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

(3)Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

(4)The registrant's other certifying officers and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

(a)Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

(b)Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

(c)Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

(d)Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

(5)The registrant's other certifying officers and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant's auditors and the Audit Committee of the registrant's Board of Directors (or persons performing the equivalent functions):

(a)All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize and report financial information; and

(b)Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

Dated: May 9, 2014

/s/ Olivier A. Filliol

Olivier A. Filliol    

Chief Executive Officer

EX-31.2

Exhibit 31.2

Certification Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002

I, William P. Donnelly, certify that:

(1)I have reviewed this quarterly report on Form 10-Q of Mettler-Toledo International Inc.;

(2)Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

(3)Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

(4)The registrant's other certifying officers and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

(a)Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

(b)Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

(c)Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

(d)Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

(5)The registrant's other certifying officers and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant's auditors and the Audit Committee of the registrant's Board of Directors (or persons performing the equivalent functions):

(a)All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize and report financial information; and

(b)Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

Dated: May 9, 2014

/s/ William P. Donnelly

William P. Donnelly

Executive Vice President (Principal Financial Officer)

EX-31.3

Exhibit 31.3

Certification Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002

I, Shawn P. Vadala, certify that:

(1)I have reviewed this quarterly report on Form 10-Q of Mettler-Toledo International Inc.;

(2)Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

(3)Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

(4)The registrant's other certifying officers and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

(a)Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

(b)Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

(c)Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

(d)Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

(5)The registrant's other certifying officers and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant's auditors and the Audit Committee of the registrant's Board of Directors (or persons performing the equivalent functions):

(a)All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize and report financial information; and

(b)Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

Dated: May 9, 2014

/s/ Shawn P. Vadala

Shawn P. Vadala

Chief Financial Officer (Principal Accounting Officer)

EX-32

Exhibit 32

Certification Pursuant to

Section 906 of the Sarbanes-Oxley Act of 2002

Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 (subsections (a) and (b) of Section 1350, Chapter 63 of Title 18, United States Code), each of the undersigned officers of Mettler-Toledo International Inc. (the "Company") does hereby certify, to such officer's knowledge, that:

This quarterly report on Form 10-Q for the period ending March 31, 2014 fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934 and the information contained in this periodic report fairly presents, in all material respects, the financial condition and results of operations of the Company.

Dated: May 9, 2014

/s/ Olivier A. Filliol

Olivier A. Filliol

Chief Executive Officer

/s/ William P. Donnelly

William P. Donnelly

Executive Vice President (Principal Financial Officer)

/s/ Shawn P. Vadala

Shawn P. Vadala

Chief Financial Officer (Principal Accounting Officer)

XML

Share Repurchase Program and Treasury Stock (Details) (USD $)	3 Months Ended		12 Months Ended
	Mar. 31, 2014	Mar. 31, 2013	Dec. 31, 2013
Share Repurchase Program and Treasury Stock (Textuals) [Abstract]
Authorized amount under share repurchase program	$ 3,000,000,000
Remaining Amount to Repurchase under the program	809,900,000
Shares Purchased Under Share Repurchase Program	21,800,000
Repurchases of common stock	$ (82,498,000)	$ (72,300,000)	$ (294,976,000)
Number of shares repurchased	336,188	341,109
Average price of share repurchased, per share	$ 245.37	$ 211.94
Exercise of stock options and restricted stock units, shares reissued	69,442	117,014

XML

Segment Reporting (Details 1) (USD $) In Thousands, unless otherwise specified	3 Months Ended
	Mar. 31, 2014	Mar. 31, 2013
Reconciliation of earnings before taxes to segment profit
Earnings before taxes	$ 76,384	$ 69,136
Amortization	7,094	5,122
Interest Expense	5,666	5,400
Restructuring Charges	1,492	5,002
Other charges (income), net	317	773
Segment Profit Information	$ 90,953	$ 85,433

XML

Restructuring Charges Restructuring Charges (textuals) (Details) (USD $) In Thousands, unless otherwise specified	3 Months Ended
	Mar. 31, 2014	Mar. 31, 2013
Restructuring Charges [Abstract]
Restructuring Charges	$ 1,492	$ 5,002

XML

Summary of Significant Accounting Policies (Details Textuals) (USD $) In Millions, unless otherwise specified	3 Months Ended
	Mar. 31, 2014	Mar. 31, 2013
Summary of Significant Accounting Policies (Textuals) [Abstract]
Amortization expense	$ 1.6	$ 1.4
Future Amortization Expense Current Year	6.0
Aggregate amortization expense for 2015	5.3
Aggregate amortization expense for 2016	5.1
Aggregate amortization expense for 2017	4.9
Aggregate amortization expense for 2018	4.6
Aggregate amortization expense for 2019	4.3
Purchased Intangible Amortization, Gross	1.3
Purchased intangible amortization, net of tax	0.9
Amortization expense associated with capitalized software	5.5	3.7
Standard Warranty Period	one
Share - based compensation expense	$ 3.2	$ 2.8

XML

Accumulated Other Comprehensive Income (Tables)

3 Months Ended

Mar. 31, 2014

Accumulated Other Comprehensive Income [Abstract]

Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block]

The following table presents changes in accumulated other comprehensive income by component for the period ended March 31, 2014:

	Currency Translation Adjustment, Net of Tax		Net Unrealized Gain (Loss) on Cash Flow Hedging Arrangements, Net of Tax			Pension and Post-Retirement Benefit Related Items, Net of Tax			Total
Balance at December 31, 2013	$	77,915	$	(2,433	)	$	(110,518	)	$	(35,036	)
Other comprehensive income (loss), net of tax:
Unrealized gains (losses) cash flow hedging arrangements	—		(281		)	—			(281		)
Foreign currency translation adjustment	1,345		43			(90		)	1,298
Amounts recognized from accumulated other comprehensive income (loss), net of tax	—		440			396			836
Net change in other comprehensive income (loss), net of tax	1,345		202			306			1,853
Balance at March 31, 2014	$	79,260	$	(2,231	)	$	(110,212	)	$	(33,183	)

	Currency Translation Adjustment, Net of Tax			Net Unrealized Gain (Loss) on Cash Flow Hedging Arrangements, Net of Tax			Pension and Post-Retirement Benefit Related Items, Net of Tax			Total
Balance at December 31, 2012	$	56,012		$	(5,438	)	$	(148,035	)	$	(97,461	)
Other comprehensive income (loss), net of tax:
Unrealized gains (losses) cash flow hedging arrangements	—			(653		)	—			(653		)
Foreign currency translation adjustment	(23,246		)	(10		)	4,287			(18,969		)
Amounts recognized from accumulated other comprehensive income (loss), net of tax	—			842			1,665			2,507
Net change in other comprehensive income (loss), net of tax	(23,246		)	179			5,952			(17,115		)
Balance at March 31, 2013	$	32,766		$	(5,259	)	$	(142,083	)	$	(114,576	)

Disclosure of Reclassification Amount [Text Block]

The following table presents amounts recognized from accumulated other comprehensive income for the three months ended March 31:

	2014			2013
	Amount Recognized From Accumulated Other Comprehensive Income (Loss)					Location of Amounts Recognized in Earnings
Effective portion of (gains) losses on cash flow hedging arrangements:
Interest rate swap agreements	$	768		$	755	Interest expense
Foreign currency forward contracts	(41		)	475		Cost of sales - products
Total before taxes	727			1,230
Provision for taxes	287			388		Provision for taxes
Total, net of taxes	$	440		$	842
Recognition of defined benefit pension and post-retirement items:
Recognition of actuarial (gains) losses, plan amendments and prior service cost, before taxes	$	712		$	2,572	(a)
Provision for taxes	316			907		Provision for taxes
Total, net of taxes	$	396		$	1,665

Schedule of Comprehensive Income (Loss) [Table Text Block]

Comprehensive income (loss), net of tax consisted of the following:

	March 31, 2014		March 31, 2013
Net earnings	$	58,051	$	52,544
Other comprehensive income (loss), net of tax	1,853		$	(17,115	)
Comprehensive income (loss), net of tax	$	59,904	$	35,429

XML

Accumulated Other Comprehensive Income Details 2 (Details) (USD $) In Thousands, unless otherwise specified	3 Months Ended		12 Months Ended
	Mar. 31, 2014	Mar. 31, 2013	Dec. 31, 2013
Net Income (Loss) Attributable to Parent	$ 58,051	$ 52,544	$ 306,094
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent	1,853	(17,115)	62,425
Comprehensive Income (Loss), Net of Tax, Attributable to Parent	$ 59,904	$ 35,429

XML

Income Taxes (Details)	3 Months Ended
	Mar. 31, 2014
Effective Income Tax Rate, Continuing Operations	24.00%

XML

Segment Reporting (Details) (USD $) In Thousands, unless otherwise specified	3 Months Ended
	Mar. 31, 2014	Mar. 31, 2013	Dec. 31, 2013
Operations of the Company's operating segments
Net Sales to External Customers	$ 550,621	$ 524,355
Revenue Transactions With Other Operating Segments	0	0
Total net sales	550,621	524,355
Segment Profit	90,953	85,433
Goodwill	456,942	445,709	455,842
Us Operations segment Member
Operations of the Company's operating segments
Net Sales to External Customers	163,994	158,389
Revenue Transactions With Other Operating Segments	20,775	18,377
Total net sales	184,769	176,766
Segment profit	23,695	24,657
Goodwill	307,933	307,933
Swiss Operations segment Member
Operations of the Company's operating segments
Net Sales to External Customers	32,056	30,697
Revenue Transactions With Other Operating Segments	108,225	97,123
Total net sales	140,281	127,820
Segment profit	36,166	34,201
Goodwill	24,420	22,694
Western European Operations [Member]
Operations of the Company's operating segments
Net Sales to External Customers	161,517	146,168
Revenue Transactions With Other Operating Segments	29,438	28,112
Total net sales	190,955	174,280
Segment profit	20,876	18,298
Goodwill	109,056	100,483
Chinese Operations [Member]
Operations of the Company's operating segments
Net Sales to External Customers	91,621	90,727
Revenue Transactions With Other Operating Segments	35,544	30,402
Total net sales	127,165	121,129
Segment profit	25,799	24,648
Goodwill	738	722
Other Operations [Member]
Operations of the Company's operating segments
Net Sales to External Customers	101,433	98,374
Revenue Transactions With Other Operating Segments	1,135	1,420
Total net sales	102,568	99,794
Segment profit	9,159	9,487
Goodwill	14,795	13,877
Intersegment Elimination [Member]
Operations of the Company's operating segments
Net Sales to External Customers	0	0
Revenue Transactions With Other Operating Segments	(195,117)	(175,434)
Total net sales	(195,117)	(175,434)
Segment profit	(24,742)	(25,858)
Goodwill	$ 0	$ 0

XML

Financial Instruments

3 Months Ended

Mar. 31, 2014

Derivative Instruments and Hedging Activities Disclosure [Abstract]

FINANCIAL INSTRUMENTS

FINANCIAL INSTRUMENTS

As more fully described below, the Company enters into certain interest rate swap agreements in order to manage its exposure to changes in interest rates. The amount of the Company’s fixed obligation interest payments may change based upon the expiration dates of its interest rate swap agreements and the level and composition of its debt. The Company also enters into foreign currency forward contracts to limit the Company’s exposure to currency fluctuations on the respective hedged items. The Company does not use derivative financial instruments for trading purposes. For additional disclosures on the fair value of financial instruments, also see Note 4 to the interim consolidated financial statements.

Cash Flow Hedge

The Company has an interest rate swap agreement, designated as a cash flow hedge. The agreement is a forward-starting swap which had the effect of changing the floating rate LIBOR-based interest payments associated with $100 million in forecasted borrowings under the Company’s credit facility to a fixed obligation of 3.24% beginning in October 2010. The swap is recorded gross in other non-current liabilities in the consolidated balance sheet at its fair value at March 31, 2014 and December 31, 2013 of $4.7 million and $5.3 million, respectively. The amount recognized in other comprehensive income (loss) during both the three month periods ended March 31, 2014 and 2013 was a loss of $0.1 million. The effective portion of the loss reclassified from accumulated other comprehensive income (loss) to interest expense was $0.8 million ($0.5 million after tax) for both the three months ended March 31, 2014 and 2013, respectively. A derivative loss of $3.1 million based upon interest rates at March 31, 2014, is expected to be reclassified from other comprehensive income (loss) to earnings in the next twelve months. Through March 31, 2014, the hedge ineffectiveness related to this instrument was not material.

In June 2013, the Company entered into a forward starting interest rate swap agreement, designated as a cash flow hedge. The agreement will change the floating rate LIBOR-based interest payments associated with $50 million in forecasted borrowings under the Company's credit agreement to a fixed obligation of 2.52% beginning in October 2015. The swap is recorded in other non-current assets in the consolidated balance sheet at its fair value at March 31, 2014 and December 31, 2013 of $0.6 million and $1.3 million, respectively. The amount recognized in other comprehensive income (loss) during the three month period ended March 31, 2014 was a loss of $0.7 million ($0.4 million after tax).

In July 2012, the Company began entering into foreign currency forward contracts, designated as cash flow hedges, to hedge certain forecasted intercompany sales denominated in euro with its Swiss-based business. The notional amount of foreign currency forward contracts outstanding at both March 31, 2014 and December 31, 2013 was $78.2 million. The foreign currency forward contracts are recorded at their fair value in the consolidated balance sheet at March 31, 2014 in other current assets of $0.5 million. At December 31, 2013, the foreign currency forward contracts are recorded gross at their fair value in the consolidated balance in other current assets of $0.3 million and in accrued and other liabilities of $0.1 million, respectively. The Company records the effective portion of the cash flow derivative hedging gains and losses in accumulated other comprehensive income (loss), net of tax and reclassifies these amounts into earnings in the period in which the transactions affect earnings. The amount recognized in other comprehensive income (loss) during the three months period ended March 31, 2014 and 2013 was a gain of $0.3 million ($0.2 million after tax) and a loss of $0.8 million ($0.6 million after tax), respectively. The effective portion reclassified from accumulated other comprehensive income (loss) to cost of sales was an immaterial gain for the three months ended March 31, 2014 and a loss of $0.5 million ($0.4 million after tax) for the three months ended March 31, 2013, respectively. A derivative gain of $0.5 million as of March 31, 2014 is expected to be recognized in earnings in the next twelve months. Through March 31, 2014 no hedge ineffectiveness has occurred in relation to this hedge.

Other Derivatives

The Company enters into foreign currency forward contracts in order to economically hedge short-term intercompany balances largely denominated in Swiss franc and other major European currencies with its foreign businesses. In accordance with U.S. GAAP, these contracts are considered “derivatives not designated as hedging instruments.” Gains or losses on these instruments are reported in current earnings. The foreign currency forward contracts were reported gross at their fair value in the consolidated balance sheet at March 31, 2014 and December 31, 2013 in other current assets of $0.2 million and $0.7 million, respectively, and other liabilities of $0.8 million and $0.4 million, respectively. The Company recognized in other charges (income), net a loss of $0.2 million and $2.2 million, during the three month periods ended March 31, 2014 and 2013, respectively. At March 31, 2014 and December 31, 2013, these contracts had a notional value of $173.9 million and $180.3 million, respectively.

XML

Earnings Per Common Share (Details)	3 Months Ended
	Mar. 31, 2014	Mar. 31, 2013
Weighted Average Number Diluted Shares Outstanding Adjustment [Abstract]
Weighted Average Number of Shares Outstanding, Diluted, Total	718,013	802,410
Antidilutive Shares Outstanding
Weighted Average Number of Shares Outstanding, Antidilutive, Total	147,159	141,621

XML

Segment Reporting (Tables)

3 Months Ended

Mar. 31, 2014

Segment Reporting [Abstract]

Operations of the Company's operating segments

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, 2014	Customers		Segments			Sales			Profit			Goodwill
U.S. Operations	$	163,994	$	20,775		$	184,769		$	23,695		$	307,933
Swiss Operations	32,056		108,225			140,281			36,166			24,420
Western European Operations	161,517		29,438			190,955			20,876			109,056
Chinese Operations	91,621		35,544			127,165			25,799			738
Other (a)	101,433		1,135			102,568			9,159			14,795
Eliminations and Corporate (b)	—		(195,117		)	(195,117		)	(24,742		)	—
Total	$	550,621	$	—		$	550,621		$	90,953		$	456,942

	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	$	158,389	$	18,377		$	176,766		$	24,657		$	307,933
Swiss Operations	30,697		97,123			127,820			34,201			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)	98,374		1,420			99,794			9,487			13,877
Eliminations and Corporate (b)	—		(175,434		)	(175,434		)	(25,858		)	—
Total	$	524,355	$	—		$	524,355		$	85,433		$	445,709

(a) Other includes reporting units in Eastern Europe, Latin America, East 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.

Reconciliation of earnings before taxes to segment profit

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

	Three Months Ended
	March 31, 2014		March 31, 2013
Earnings before taxes	$	76,384	$	69,136
Amortization	7,094		5,122
Interest expense	5,666		5,400
Restructuring charges	1,492		5,002
Other charges (income), net	317		773
Segment profit	$	90,953	$	85,433

XML

Restructuring Charges (Tables)

3 Months Ended

Mar. 31, 2014

Restructuring and Related Activities [Abstract]

Company's accrual for restructuring activities

A rollforward of the Company’s accrual for restructuring activities for the three months ended March 31, 2014 is as follows:

	Employee Related			Other			Total
Balance at December 31, 2013	$	13,054		$	131		$	13,185
Restructuring charges	1,246			246			1,492
Cash payments / utilization	(2,897		)	(244		)	(3,141		)
Impact of foreign currency	(30		)	—			(30		)
Balance at March 31, 2014	$	11,373		$	133		$	11,506

XML

Net Periodic Benefit Cost (Details) (USD $) In Thousands, unless otherwise specified	3 Months Ended
	Mar. 31, 2014	Mar. 31, 2013
Components of Net periodic pension cost for the Company's defined benefit pension plans and U.S. post-retirement medical plan
Service cost, net	$ 4,228	$ 4,546
Interest cost on projected benefit obligations	7,142	6,423
Expected return on plan assets	(11,681)	(10,480)
Net amortization and deferral	(1,235)	(972)
Recognition of actuarial losses/(gains)	1,947	3,544
Net periodic pension cost/(credit)	401	3,061
United States Pension Plans of US Entity, Defined Benefit [Member]
Components of Net periodic pension cost for the Company's defined benefit pension plans and U.S. post-retirement medical plan
Service cost, net	223	123
Interest cost on projected benefit obligations	1,599	1,439
Expected return on plan assets	(2,137)	(1,788)
Net amortization and deferral	0	0
Recognition of actuarial losses/(gains)	1,200	1,945
Net periodic pension cost/(credit)	885	1,719
Foreign Pension Plans, Defined Benefit [Member]
Components of Net periodic pension cost for the Company's defined benefit pension plans and U.S. post-retirement medical plan
Service cost, net	3,962	4,369
Interest cost on projected benefit obligations	5,483	4,883
Expected return on plan assets	(9,544)	(8,692)
Net amortization and deferral	(1,040)	(994)
Recognition of actuarial losses/(gains)	1,106	1,846
Net periodic pension cost/(credit)	(33)	1,412
Net Periodic Benefit Cost (Textuals) [Abstract]
Defined Benefit Plan, Estimated Future Employer Contributions in Current Fiscal Year	21,800
United States Postretirement Benefit Plans of US Entity, Defined Benefit [Member]
Components of Net periodic pension cost for the Company's defined benefit pension plans and U.S. post-retirement medical plan
Service cost, net	43	54
Interest cost on projected benefit obligations	60	101
Expected return on plan assets	0	0
Net amortization and deferral	(195)	22
Recognition of actuarial losses/(gains)	(359)	(247)
Net periodic pension cost/(credit)	(451)	(70)
Net Periodic Benefit Cost (Textuals) [Abstract]
Defined Benefit Plan, Estimated Future Employer Contributions in Current Fiscal Year	$ 500

XML

Summary of Significant Accounting Policies (Details) (USD $) In Thousands, unless otherwise specified	Mar. 31, 2014	Dec. 31, 2013
Components of inventory
Raw materials and parts	$ 102,512	$ 98,244
Work-in-progress	42,036	38,061
Finished goods	79,872	74,109
Total Inventory, Net	$ 224,420	$ 210,414

XML

Summary of Significant Accounting Policies (Details 1) (USD $) In Thousands, unless otherwise specified	Mar. 31, 2014	Dec. 31, 2013
Intangible Assets [Line Items]
Finite and Indefinite-Lived Intangible Assets, Gross, Total	$ 171,731	$ 171,772
Total Accumulated Amortization	(58,812)	(57,354)
Intangible Assets, Net (Excluding Goodwill)	112,919	114,418
Tradename (indefinite life) [Member]
Intangible Assets [Line Items]
Gross amount, Tradename (indefinite life)	25,121	25,108
Intangible Assets, Net (Excluding Goodwill)	25,121	25,108
Customer Relationships [Member]
Intangible Assets [Line Items]
Gross amount	98,329	98,374
Accumulated Amortization	(26,141)	(25,313)
Intangible Assets, Net (Excluding Goodwill)	72,188	73,061
Proven technology and patents [Member]
Intangible Assets [Line Items]
Gross amount	43,191	43,233
Accumulated Amortization	(30,232)	(29,763)
Intangible Assets, Net (Excluding Goodwill)	12,959	13,470
Tradename (finite life) [Member]
Intangible Assets [Line Items]
Gross amount	4,332	4,300
Accumulated Amortization	(1,732)	(1,619)
Intangible Assets, Net (Excluding Goodwill)	2,600	2,681
Other Intangible Assets [Member]
Intangible Assets [Line Items]
Gross amount	758	757
Accumulated Amortization	(707)	(659)
Intangible Assets, Net (Excluding Goodwill)	$ 51	$ 98

XML

Summary of Significant Accounting Policies

3 Months Ended

Mar. 31, 2014

Accounting Policies [Abstract]

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Trade Accounts Receivable

Trade accounts receivable are recorded at the invoiced amount and do not bear interest. The allowance for doubtful accounts represents the Company’s best estimate of probable credit losses in its existing trade accounts receivable. The Company determines the allowance based upon a review of both specific accounts for collection and the age of the accounts receivable portfolio.

Inventories

Inventories are valued at the lower of cost or net realizable value. Cost, which includes direct materials, labor and overhead, is generally determined using the first in, first out (FIFO) method. The estimated net realizable value is based on assumptions for future demand and related pricing. Adjustments to the cost basis of the Company’s inventory are made for excess and obsolete items based on usage, orders and technological obsolescence. If actual market conditions are less favorable than those projected by management, reductions in the value of inventory may be required.

Inventories consisted of the following:

	March 31, 2014		December 31, 2013
Raw materials and parts	$	102,512	$	98,244
Work-in-progress	42,036		38,061
Finished goods	79,872		74,109
	$	224,420	$	210,414

Goodwill and Other Intangible Assets

Goodwill, representing the excess of purchase price over the net asset value of companies acquired, and indefinite-lived intangible assets are not amortized, but are reviewed for impairment annually in the fourth quarter, or more frequently if events or changes in circumstances indicate that an asset might be impaired. The annual evaluation for goodwill is generally based on an assessment of qualitative factors to determine whether it is more likely than not that the fair value of a reporting unit is less than its carrying amount. If the Company is unable to conclude that a reporting unit is not impaired after considering the totality of events and circumstances during its qualitative assessment, the Company performs the first step of the two-step impairment test by estimating the fair value of the reporting unit and comparing the fair value to the carrying amount of the reporting unit. If the carrying amount of a reporting unit exceeds its fair value, then the Company performs the second step of the goodwill impairment test to measure the amount of the impairment loss, if any. The annual evaluation for indefinite-lived intangible assets is based on valuation models that estimate fair value based on expected future cash flows and profitability projections.

Other intangible assets include indefinite-lived assets and assets subject to amortization. Where applicable, amortization is charged on a straight-line basis over the expected period to be benefited. The straight-line method of amortization reflects an appropriate allocation of the cost of the intangible assets to earnings in proportion to the amount of economic benefits obtained by the Company in each reporting period. The Company assesses the initial acquisition of intangible assets in accordance with the provisions of ASC 805 “Business Combinations” and the continued accounting for previously recognized intangible assets and goodwill in accordance with the provisions of ASC 350 “Intangibles – Goodwill and Other” and ASC 360 “Property, Plant and Equipment.”

Other intangible assets consisted of the following:

	March 31, 2014							December 31, 2013
	Gross Amount		Accumulated Amortization			Intangibles, Net		Gross Amount		Accumulated Amortization			Intangibles, Net
Customer relationships	$	98,329	$	(26,141	)	$	72,188	$	98,374	$	(25,313	)	$	73,061
Proven technology and patents	43,191		(30,232		)	12,959		43,233		(29,763		)	13,470
Tradename (finite life)	4,332		(1,732		)	2,600		4,300		(1,619		)	2,681
Tradename (indefinite life)	25,121		—			25,121		25,108		—			25,108
Other	758		(707		)	51		757		(659		)	98
	$	171,731	$	(58,812	)	$	112,919	$	171,772	$	(57,354	)	$	114,418

The Company recognized amortization expense associated with the above intangible assets of $1.6 million and $1.4 million for the three months ended March 31, 2014 and 2013, respectively. The annual aggregate amortization expense based on the current balance of other intangible assets is estimated at $6.0 million for 2014, $5.3 million for 2015, $5.1 million for 2016, $4.9 million for 2017, $4.6 million for 2018 and $4.3 million for 2019. Purchased intangible amortization was $1.3 million ($0.9 million after tax) for both the three months ended March 31, 2014 and 2013.

In addition to the above amortization, the Company recorded amortization expense associated with capitalized software of $5.5 million and $3.7 million for the three months ended March 31, 2014 and 2013, respectively.

Revenue Recognition

Revenue is recognized when title to a product has transferred and any significant customer obligations have been fulfilled. Standard shipping terms are generally FOB shipping point in most countries and, accordingly, title and risk of loss transfers upon shipment. In countries where title cannot legally transfer before delivery, the Company defers revenue recognition until delivery has occurred. The Company generally maintains the right to accept or reject a product return in its terms and conditions and also maintains appropriate accruals for outstanding credits. Shipping and handling costs charged to customers are included in total net sales and the associated expense is recorded in cost of sales for all periods presented. Other than a few small software applications, the Company does not sell software products without the related hardware instrument as the software is embedded in the instrument. The Company’s products typically require no significant production, modification or customization of the hardware or software that is essential to the functionality of the products. To the extent the Company’s solutions have a post-shipment obligation, such as customer acceptance, revenue is deferred until the obligation has been completed. The Company defers product revenue where installation is required, unless such installation is deemed perfunctory. The Company also sometimes enters into certain arrangements that require the separate delivery of multiple goods and/or services. These deliverables are accounted for separately if the deliverables have standalone value and the performance of undelivered items is probable and within the Company's control. The allocation of revenue between the separate deliverables is typically based on the relative selling price at the time of the sale in accordance with a number of factors including service technician billing rates, time to install and geographic location.

Further, certain products are also sold through indirect distribution channels whereby the distributor assumes any further obligations to the customer upon title transfer. Revenue is recognized on these products upon transfer of title and risk of loss to its distributors. Distributor discounts are offset against revenue at the time such revenue is recognized.

Service revenue not under contract is recognized upon the completion of the service performed. Spare parts sold on a stand-alone basis are recognized upon title and risk of loss transfer which is generally at the time of shipment. Revenues from service contracts are recognized ratably over the contract period. These contracts represent an obligation to perform repair and other services including regulatory compliance qualification, calibration, certification and preventative maintenance on a customer’s pre-defined equipment over the contract period. Service contracts are separately priced and payment is typically received from the customer at the beginning of the contract period.

Warranty

The Company generally offers one-year warranties on most of its products. Product warranties are recorded at the time revenue is recognized. While the Company engages in extensive product quality programs and processes, its warranty obligation is affected by product failure rates, material usage and service costs incurred in correcting a product failure.

The Company’s accrual for product warranties is included in accrued and other liabilities in the consolidated balance sheets. Changes to the Company’s accrual for product warranties for the three months ended March 31 are as follows:

	March 31, 2014			March 31, 2013
Balance at beginning of period	$	16,991		$	16,295
Accruals for warranties	4,685			4,515
Foreign currency translation	28			(258		)
Payments / utilizations	(4,897		)	(5,002		)
Balance at end of period	$	16,807		$	15,550

Employee Termination Benefits

In situations where contractual termination benefits exist, the Company records accruals for employee termination benefits when it is probable that a liability has been incurred and the amount of the liability is reasonably estimable. All other employee termination arrangements are recognized and measured at their fair value at the communication date unless the employee is required to render additional service beyond the legal notification period, in which case the liability is recognized ratably over the future service period.

Share-Based Compensation

The Company recognizes share-based compensation expense within selling, general and administrative in the consolidated statements of operations and comprehensive income with a corresponding offset to additional paid-in capital in the consolidated balance sheet. The Company recorded $3.2 million and $2.8 million of share-based compensation expense for the three months ended March 31, 2014 and 2013, respectively.

Research and Development

Research and development costs primarily consist of salaries, consulting and other costs. The Company expenses these costs as incurred.

XML

Summary of Significant Accounting Policies (Details 2) (USD $) In Thousands, unless otherwise specified	3 Months Ended
	Mar. 31, 2014	Mar. 31, 2013
Changes to the Company's accrual for product warranties
Warranty Accrual, Balance at beginning of period	$ 16,991	$ 16,295
Accruals for warranties	4,685	4,515
Foreign currency translation	28	(258)
Payments / utilizations	(4,897)	(5,002)
Warranty Accrual, Balance at end of period	$ 16,807	$ 15,550

XML

Accumulated Other Comprehensive Income (Details) (USD $) In Thousands, unless otherwise specified	3 Months Ended
	Mar. 31, 2014	Mar. 31, 2013	Dec. 31, 2013	Dec. 31, 2012
Accumulated Other Comprehensive Income (Loss), Net of Tax	$ (33,183)	$ (114,576)	$ (35,036)	$ (97,461)
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax	(281)	(653)
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment, Net of Tax	1,298	(18,969)
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax	836	2,507
Other Comprehensive Income (Loss), Net of Tax	1,853	(17,115)
Accumulated Translation Adjustment [Member]
Accumulated Other Comprehensive Income (Loss), Net of Tax	79,260	32,766	77,915	56,012
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax	0	0
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment, Net of Tax	1,345	(23,246)
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax	0	0
Other Comprehensive Income (Loss), Net of Tax	1,345	(23,246)
Accumulated Net Gain (Loss) from Designated or Qualifying Cash Flow Hedges [Member]
Accumulated Other Comprehensive Income (Loss), Net of Tax	(2,231)	(5,259)	(2,433)	(5,438)
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax	(281)	(653)
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment, Net of Tax	43	(10)
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax	440	842
Other Comprehensive Income (Loss), Net of Tax	202	179
Accumulated Defined Benefit Plans Adjustment [Member]
Accumulated Other Comprehensive Income (Loss), Net of Tax	(110,212)	(142,083)	(110,518)	(148,035)
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax	0	0
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment, Net of Tax	(90)	4,287
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax	396	1,665
Other Comprehensive Income (Loss), Net of Tax	$ 306	$ 5,952

XML

Interim Consolidated Statements of Operations (Unaudited) (USD $) In Thousands, except Share data, unless otherwise specified	3 Months Ended
	Mar. 31, 2014	Mar. 31, 2013
Net sales
Products	$ 422,148	$ 402,339
Service	128,473	122,016
Total net sales	550,621	524,355
Cost of sales
Products	181,198	172,589
Service	76,782	72,608
Gross profit	292,641	279,158
Research and development	29,497	27,700
Selling, general and administrative	172,191	166,025
Amortization	7,094	5,122
Interest Expense	5,666	5,400
Restructuring Charges	1,492	5,002
Other charges (income), net	317	773
Earnings before taxes	76,384	69,136
Provision for taxes	18,333	16,592
Net Income (Loss) Attributable to Parent	58,051	52,544
Basic earnings per common share:
Net earnings	$ 1.98	$ 1.73
Weighted average number of common shares	29,370,232	30,299,569
Diluted earnings per common share:
Net earnings	$ 1.93	$ 1.69
Weighted average number of common and common equivalent shares	30,088,245	31,101,979
Comprehensive Income (Loss), Net of Tax, Attributable to Parent	$ 59,904	$ 35,429

XML

Restructuring Charges (Details) (USD $) In Thousands, unless otherwise specified	3 Months Ended
	Mar. 31, 2014	Mar. 31, 2013
Company's accrual for restructuring activities:-
Beginning Restructuring Accrual Balance, as of December 31, 2013	$ 13,185
Restructuring Charges	1,492	5,002
Restructuring Cash Payments	(3,141)
Impact of foreign currency on restructuring reserve	(30)
Ending Restructuring Accrual Balance, as of March 31, 2014	11,506
Employee Severance [Member]
Company's accrual for restructuring activities:-
Beginning Restructuring Accrual Balance, as of December 31, 2013	13,054
Restructuring Charges	1,246
Restructuring Cash Payments	(2,897)
Impact of foreign currency on restructuring reserve	(30)
Ending Restructuring Accrual Balance, as of March 31, 2014	11,373
Other Restructuring Charges [Member]
Company's accrual for restructuring activities:-
Beginning Restructuring Accrual Balance, as of December 31, 2013	131
Restructuring Charges	246
Restructuring Cash Payments	(244)
Impact of foreign currency on restructuring reserve	0
Ending Restructuring Accrual Balance, as of March 31, 2014	$ 133

XML

Interim Consolidated Statements of Cash Flows (Unaudited) (USD $) In Thousands, unless otherwise specified	3 Months Ended
	Mar. 31, 2014	Mar. 31, 2013
Cash flows from operating activities:
Net Income (Loss) Attributable to Parent	$ 58,051	$ 52,544
Adjustments to reconcile net earnings to net cash provided by operating activities:
Depreciation	8,420	8,881
Amortization	7,094	5,122
Deferred tax benefit	(695)	(3,354)
Excess tax benefits from share-based payment arrangements	(4,495)	(256)
Share-based compensation	3,201	2,805
Other	37	26
Increase (decrease) in cash resulting from changes in:
Trade accounts receivable, net	41,500	20,650
Inventories	(13,543)	(5,017)
Other current assets	511	1,282
Trade accounts payable	(26,550)	(25,352)
Taxes payable	(10,436)	(11,124)
Accruals and other	(20,250)	(22,535)
Net cash provided by operating activities	42,845	23,672
Cash flows from investing activities:
Proceeds from sale of property, plant and equipment	189	36
Purchase of property, plant and equipment	(16,716)	(19,018)
Payments to Acquire Businesses, Net of Cash Acquired	(391)	0
Net cash used in investing activities	(16,918)	(18,982)
Cash flows from financing activities:
Proceeds from borrowings	145,879	141,959
Repayments of borrowings	(93,229)	(89,334)
Proceeds from stock option exercises	3,450	7,069
Repurchases of common stock	(82,498)	(72,300)
Excess tax benefits from share - based payment arrangements	4,495	256
Other financing activities	(235)	(483)
Net cash used in financing activities	(22,138)	(12,833)
Effect of exchange rate changes on cash and cash equivalents	141	(350)
Net (decrease) increase in cash and cash equivalents	3,930	(8,493)
Cash and cash equivalents:
Beginning of period	111,874	101,702
End of period	$ 115,804	$ 93,209

XML

Fair Value Measurements (Details) (USD $) In Thousands, unless otherwise specified	Mar. 31, 2014	Dec. 31, 2013
Assets:
Cash Equivalents	$ 10,787	$ 16,868
Fair Value, Measurements, Recurring [Member]
Assets:
Cash Equivalents	10,787	16,868
Interest Rate Fair Value Hedge Asset at Fair Value	565	1,269
Foreign Currency Cash Flow Hedge Asset at Fair Value	469	268
Foreign Currency Derivative Instruments Not Designated As Hedging Instruments Asset At Fair Value	235	719
Total Assets at Fair Value	12,056	19,124
Liabilities:
Interest Rate Cash Flow Hedge Liability at Fair Value	4,668	5,312
Foreign Currency Cash Flow Hedge Liability at Fair Value	3	103
Foreign Currency Derivative Instruments Not Designated As Hedging Instruments Liability At Fair Value	775	355
Total Liabilities at Fair Value	5,446	5,770
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member]
Assets:
Cash Equivalents	0	0
Interest Rate Fair Value Hedge Asset at Fair Value	0	0
Foreign Currency Cash Flow Hedge Asset at Fair Value	0	0
Foreign Currency Derivative Instruments Not Designated As Hedging Instruments Asset At Fair Value	0	0
Total Assets at Fair Value	0	0
Liabilities:
Interest Rate Cash Flow Hedge Liability at Fair Value	0	0
Foreign Currency Cash Flow Hedge Liability at Fair Value	0	0
Foreign Currency Derivative Instruments Not Designated As Hedging Instruments Liability At Fair Value	0	0
Total Liabilities at Fair Value	0	0
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member]
Assets:
Cash Equivalents	10,787	16,868
Interest Rate Fair Value Hedge Asset at Fair Value	565	1,269
Foreign Currency Cash Flow Hedge Asset at Fair Value	469	268
Foreign Currency Derivative Instruments Not Designated As Hedging Instruments Asset At Fair Value	235	719
Total Assets at Fair Value	12,056	19,124
Liabilities:
Interest Rate Cash Flow Hedge Liability at Fair Value	4,668	5,312
Foreign Currency Cash Flow Hedge Liability at Fair Value	3	103
Foreign Currency Derivative Instruments Not Designated As Hedging Instruments Liability At Fair Value	775	355
Total Liabilities at Fair Value	5,446	5,770
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member]
Assets:
Cash Equivalents	0	0
Interest Rate Fair Value Hedge Asset at Fair Value	0	0
Foreign Currency Cash Flow Hedge Asset at Fair Value	0	0
Foreign Currency Derivative Instruments Not Designated As Hedging Instruments Asset At Fair Value	0	0
Total Assets at Fair Value	0	0
Liabilities:
Interest Rate Cash Flow Hedge Liability at Fair Value	0	0
Foreign Currency Cash Flow Hedge Liability at Fair Value	0	0
Foreign Currency Derivative Instruments Not Designated As Hedging Instruments Liability At Fair Value	0	0
Total Liabilities at Fair Value	$ 0	$ 0

XML

Summary of Significant Accounting Policies (Tables)

3 Months Ended

Mar. 31, 2014

Accounting Policies [Abstract]

Components of inventories

Inventories consisted of the following:

	March 31, 2014		December 31, 2013
Raw materials and parts	$	102,512	$	98,244
Work-in-progress	42,036		38,061
Finished goods	79,872		74,109
	$	224,420	$	210,414

Components of other intangible assets

Other intangible assets consisted of the following:

	March 31, 2014							December 31, 2013
	Gross Amount		Accumulated Amortization			Intangibles, Net		Gross Amount		Accumulated Amortization			Intangibles, Net
Customer relationships	$	98,329	$	(26,141	)	$	72,188	$	98,374	$	(25,313	)	$	73,061
Proven technology and patents	43,191		(30,232		)	12,959		43,233		(29,763		)	13,470
Tradename (finite life)	4,332		(1,732		)	2,600		4,300		(1,619		)	2,681
Tradename (indefinite life)	25,121		—			25,121		25,108		—			25,108
Other	758		(707		)	51		757		(659		)	98
	$	171,731	$	(58,812	)	$	112,919	$	171,772	$	(57,354	)	$	114,418

Changes to the Company's accrual for product warranties

Changes to the Company’s accrual for product warranties for the three months ended March 31 are as follows:

	March 31, 2014			March 31, 2013
Balance at beginning of period	$	16,991		$	16,295
Accruals for warranties	4,685			4,515
Foreign currency translation	28			(258		)
Payments / utilizations	(4,897		)	(5,002		)
Balance at end of period	$	16,807		$	15,550

XML

Fair Value Measurements (Details Textuals) (USD $) In Thousands, unless otherwise specified	Mar. 31, 2014	Dec. 31, 2013
Derivative Assets	$ 1,269	$ 2,256
Derivative Liabilities	5,446	5,770
Cash Equivalents	10,787	16,868
Fair Value, Measurements, Recurring [Member]
Cash Equivalents	$ 10,787	$ 16,868

XML

Debt (Tables)

3 Months Ended

Mar. 31, 2014

Debt Disclosure [Abstract]

Debt

Debt consisted of the following at March 31, 2014:

	March 31, 2014
	U.S. Dollar		Other Principal Trading Currencies			Total
6.30% $100 million Senior Notes due June 25, 2015	$	100,000	$	—		$	100,000
3.67% $50 million Senior Notes due December 17, 2022	50,000		—			50,000
4.10% $50 million Senior Notes due September 19, 2023	50,000		—			50,000
Credit agreement	231,584		17,998			249,582
Other local arrangements	—		16,255			16,255
Total debt	431,584		34,253			465,837
Less: current portion	—		(16,255		)	(16,255		)
Total long-term debt	$	431,584	$	17,998		$	449,582

XML

Basis of Presentation

3 Months Ended

Mar. 31, 2014

Organization, Consolidation and Presentation of Financial Statements [Abstract]

BASIS OF PRESENTATION

BASIS OF PRESENTATION

Mettler-Toledo International Inc. ("Mettler-Toledo" or the "Company") is a leading global supplier of precision instruments and services. The Company manufactures weighing instruments for use in laboratory, industrial, packaging, logistics and food retailing applications. The Company also manufactures several related analytical instruments and provides automated chemistry solutions used in drug and chemical compound discovery and development. In addition, the Company manufactures metal detection and other end-of-line inspection systems used in production and packaging and provides solutions for use in certain process analytics applications. The Company's primary manufacturing facilities are located in China, Germany, Switzerland, the United Kingdom and the United States. The Company's principal executive offices are located in Columbus, Ohio and Greifensee, Switzerland.

The accompanying interim consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) and include all entities in which the Company has control, which are its wholly-owned subsidiaries. The interim consolidated financial statements have been prepared without audit, pursuant to the rules and regulations of the Securities and Exchange Commission. Certain information and footnote disclosures normally included in financial statements prepared in accordance with U.S. GAAP have been condensed or omitted pursuant to such rules and regulations. The interim consolidated financial statements as of March 31, 2014 and for the three months ended March 31, 2014 and 2013 should be read in conjunction with the consolidated financial statements and the notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2013.

The accompanying interim consolidated financial statements reflect all adjustments which, in the opinion of management, are necessary for a fair statement of the results of the interim periods presented. Operating results for the three months ended March 31, 2014 are not necessarily indicative of the results to be expected for the full year ending December 31, 2014.

The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, as well as disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting periods. Actual results may differ from those estimates. A discussion of the Company’s critical accounting policies is included in Management’s Discussion and Analysis of Financial Condition and Results of Operations and the Notes to the Consolidated Financial Statements included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2013.

All intercompany transactions and balances have been eliminated.

Certain reclassifications have been made to prior year amounts to conform to the current year presentations.

XML

Interim Consolidated Balance Sheets (Unaudited) (USD $) In Thousands, unless otherwise specified	Mar. 31, 2014	Dec. 31, 2013
Current assets:
Cash and cash equivalents	$ 115,804	$ 111,874
Trade accounts receivable, less allowances of $14,822 at March 31, 2014 and $14,856 at December 31, 2013	425,161	466,703
Inventories	224,420	210,414
Current deferred tax assets, net	58,705	57,934
Other current assets and prepaid expenses	66,015	67,062
Total current assets	890,105	913,987
Property, plant and equipment, net	517,686	514,438
Goodwill	456,942	455,842
Other intangible assets, net	112,919	114,418
Non-current deferred tax assets, net	22,204	24,121
Other non-current assets	135,281	130,013
Total assets	2,135,137	2,152,819
Current liabilities:
Trade accounts payable	119,128	145,993
Accrued and other liabilities	117,913	116,831
Accrued compensation and related items	89,558	123,493
Deferred revenue and customer prepayments	98,564	83,083
Taxes payable	51,384	61,502
Current deferred tax liabilities	16,393	16,219
Short-term borrowings and current maturities of long-term debt	16,255	17,067
Total current liabilities	509,195	564,188
Long-term debt	449,582	395,960
Non-current deferred tax liabilities	63,122	64,449
Other non-current liabilities	189,634	193,170
Total liabilities	1,211,533	1,217,767
Commitments and contingencies (Note 14)
Shareholders' equity:
Preferred stock, $0.01 par value per share; authorized 10,000,000 shares	0	0
Common stock, $0.01 par value per share; authorized 125,000,000 shares; issued 44,786,011 and 44,786,011 shares; outstanding 29,220,329 and 29,487,075 shares at March 31, 2014 and December 31, 2013, respectively	448	448
Additional paid-in capital	660,946	653,250
Treasury stock at cost (15,565,682 shares at March 31, 2014 and 15,298,936 shares at December 31, 2013)	(1,796,550)	(1,721,030)
Retained earnings	2,091,943	2,037,420
Accumulated Other Comprehensive Income (Loss), Net of Tax	(33,183)	(35,036)
Total shareholders' equity	923,604	935,052
Total liabilities and shareholders' equity	$ 2,135,137	$ 2,152,819

XML

Restructuring Charges

3 Months Ended

Mar. 31, 2014

Restructuring and Related Activities [Abstract]

RESTRUCTURING CHARGES

RESTRUCTURING CHARGES

For the three months ending March 31, 2014, we have incurred $1.5 million of restructuring expenses which primarily comprise employee related costs related to cost reduction measures initiated in prior periods. Liabilities related to restructuring activities are included in accrued and other liabilities in the consolidated balance sheet.

A rollforward of the Company’s accrual for restructuring activities for the three months ended March 31, 2014 is as follows:

	Employee Related			Other			Total
Balance at December 31, 2013	$	13,054		$	131		$	13,185
Restructuring charges	1,246			246			1,492
Cash payments / utilization	(2,897		)	(244		)	(3,141		)
Impact of foreign currency	(30		)	—			(30		)
Balance at March 31, 2014	$	11,373		$	133		$	11,506

XML

Document and Entity Information (USD $)	3 Months Ended
	Mar. 31, 2014	Jun. 30, 2013
Entity Information [Line Items]
Entity Registrant Name	METTLER TOLEDO INTERNATIONAL INC/
Entity Central Index Key	0001037646
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Document Type	10-Q
Document Period End Date	Mar. 31, 2014
Document Fiscal Year Focus	2014
Document Fiscal Period Focus	Q1
Amendment Flag	false
Entity Common Stock, Shares Outstanding	29,220,329
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Public Float		$ 6,024,983,898

XML

Other Charges (Income), Net

3 Months Ended

Mar. 31, 2014

Other Income and Expenses [Abstract]

OTHER CHARGES (INCOME), NET

OTHER CHARGES (INCOME), NET

Other charges (income), net consists primarily of interest income, (gains) losses from foreign currency transactions and other items.

XML

Interim Consolidated Balance Sheets (Unaudited) (Parenthetical) (USD $) In Thousands, except Share data, unless otherwise specified	Mar. 31, 2014	Dec. 31, 2013
Current assets:
Allowance for Doubtful Accounts Receivable, Current	$ 14,822	$ 14,856
Shareholders' equity:
Preferred stock, par value	$ 0.01	$ 0.01
Preferred Stock, Shares Authorized	10,000,000	10,000,000
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	125,000,000	125,000,000
Common stock, shares issued	44,786,011	44,786,011
Common stock, shares outstanding	29,220,329	29,487,075
Treasury stock, shares	15,565,682	15,298,936

XML

Debt

3 Months Ended

Mar. 31, 2014

Debt Disclosure [Abstract]

DEBT

DEBT

Debt consisted of the following at March 31, 2014:

	March 31, 2014
	U.S. Dollar		Other Principal Trading Currencies			Total
6.30% $100 million Senior Notes due June 25, 2015	$	100,000	$	—		$	100,000
3.67% $50 million Senior Notes due December 17, 2022	50,000		—			50,000
4.10% $50 million Senior Notes due September 19, 2023	50,000		—			50,000
Credit agreement	231,584		17,998			249,582
Other local arrangements	—		16,255			16,255
Total debt	431,584		34,253			465,837
Less: current portion	—		(16,255		)	(16,255		)
Total long-term debt	$	431,584	$	17,998		$	449,582

As of March 31, 2014, the Company had $546.4 million of availability remaining under the credit agreement.

XML

Income Taxes

3 Months Ended

Mar. 31, 2014

Income Tax Disclosure [Abstract]

INCOME TAXES

INCOME TAXES

The provision for taxes is based upon using the Company's projected annual effective tax rate of 24% for the three month period ended March 31, 2014.

XML

Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2014

Fair Value Disclosures [Abstract]

Assets and liabilities measured at fair value on a recurring basis

The following table presents for each of these hierarchy levels, the Company’s assets and liabilities that are measured at fair value on a recurring basis at March 31, 2014 and December 31, 2013:

	March 31, 2014								December 31, 2013
	Total		Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3
Assets:
Cash equivalents	$	10,787	$	—	$	10,787	$	—	$	16,868	$	—	$	16,868	$	—
Interest rate swap agreement	565		—		565		—		1,269		—		1,269		—
Foreign currency forward contracts designated as cash flow hedge	469		—		469		—		268		—		268		—
Foreign currency forward contracts not designated as hedging instruments	235		—		235		—		719		—		719		—
Total	$	12,056	$	—	$	12,056	$	—	$	19,124	$	—	$	19,124	$	—
Liabilities:
Interest rate swap agreement	$	4,668	$	—	$	4,668	$	—	$	5,312	$	—	$	5,312	$	—
Foreign currency forward contracts designated as cash flow hedge	3		—		3		—		103		—		103		—
Foreign currency forward contracts not designated as hedging instruments	775		—		775		—		355		—		355		—
Total	$	5,446	$	—	$	5,446	$	—	$	5,770	$	—	$	5,770	$	—

XML

Segment Reporting

3 Months Ended

Mar. 31, 2014

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, 2013, 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, 2014	Customers		Segments			Sales			Profit			Goodwill
U.S. Operations	$	163,994	$	20,775		$	184,769		$	23,695		$	307,933
Swiss Operations	32,056		108,225			140,281			36,166			24,420
Western European Operations	161,517		29,438			190,955			20,876			109,056
Chinese Operations	91,621		35,544			127,165			25,799			738
Other (a)	101,433		1,135			102,568			9,159			14,795
Eliminations and Corporate (b)	—		(195,117		)	(195,117		)	(24,742		)	—
Total	$	550,621	$	—		$	550,621		$	90,953		$	456,942

	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	$	158,389	$	18,377		$	176,766		$	24,657		$	307,933
Swiss Operations	30,697		97,123			127,820			34,201			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)	98,374		1,420			99,794			9,487			13,877
Eliminations and Corporate (b)	—		(175,434		)	(175,434		)	(25,858		)	—
Total	$	524,355	$	—		$	524,355		$	85,433		$	445,709

(a) Other includes reporting units in Eastern Europe, Latin America, East 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, 2014		March 31, 2013
Earnings before taxes	$	76,384	$	69,136
Amortization	7,094		5,122
Interest expense	5,666		5,400
Restructuring charges	1,492		5,002
Other charges (income), net	317		773
Segment profit	$	90,953	$	85,433

During the three months ended March 31, 2014, restructuring charges of $1.5 million were recognized, of which $0.6 million, $0.3 million, $0.1 million, $0.2 million and $0.3 million related to the Company’s U.S., Swiss, Western European, China, and Other operations, respectively. Restructuring charges of $5.0 million were recognized during the three months ended March 31, 2013, 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.

XML

Earnings Per Common Share

3 Months Ended

Mar. 31, 2014

Earnings Per Share [Abstract]

EARNINGS PER COMMON SHARE

EARNINGS PER COMMON SHARE

In accordance with the treasury stock method, the Company has included the following common equivalent shares in the calculation of diluted weighted average number of common shares outstanding for the three months ended March 31, relating to outstanding stock options and restricted stock units:

	2014	2013
Three months ended	718,013	802,410

Outstanding options and restricted stock units to purchase or receive 147,159 and 141,621 shares of common stock for the three months ended March 31, 2014 and 2013, respectively, have been excluded from the calculation of diluted weighted average number of common and common equivalent shares as such options and restricted stock units would be anti-dilutive.

XML

Share Repurchase Program and Treasury Stock

3 Months Ended

Mar. 31, 2014

Share Repurchase Program and Treasury Stock [Abstract]

Treasury Stock [Text Block]

SHARE REPURCHASE PROGRAM AND TREASURY STOCK

The Company has a $3 billion share repurchase program, of which there were $809.9 million of remaining common shares authorized to be repurchased under the program. We expect that the authorization will be utilized over the next few years. The share repurchases are expected to be funded from cash balances, borrowings and cash generated from operating activities. Repurchases will be made through open market transactions, and the amount and timing of purchases will depend on business and market conditions, the stock price, trading restrictions, the level of acquisition activity and other factors.

The Company has purchased 21.8 million shares since the inception of the program through March 31, 2014. During the three months ended March 31, 2014 and 2013, the Company spent $82.5 million and $72.3 million on the repurchase of 336,188 shares and 341,109 shares at an average price per share of $245.37 and $211.94, respectively. The Company reissued 69,442 shares and 117,014 shares held in treasury for the exercise of stock options and restricted stock units during the three months ended March 31, 2014 and 2013, respectively.

XML

Accumulated Other Comprehensive Income (Notes)

3 Months Ended

Mar. 31, 2014

Accumulated Other Comprehensive Income [Abstract]

Comprehensive Income (Loss) Note [Text Block]

ACCUMULATED OTHER COMPREHENSIVE INCOME

The following table presents changes in accumulated other comprehensive income by component for the period ended March 31, 2014:

	Currency Translation Adjustment, Net of Tax		Net Unrealized Gain (Loss) on Cash Flow Hedging Arrangements, Net of Tax			Pension and Post-Retirement Benefit Related Items, Net of Tax			Total
Balance at December 31, 2013	$	77,915	$	(2,433	)	$	(110,518	)	$	(35,036	)
Other comprehensive income (loss), net of tax:
Unrealized gains (losses) cash flow hedging arrangements	—		(281		)	—			(281		)
Foreign currency translation adjustment	1,345		43			(90		)	1,298
Amounts recognized from accumulated other comprehensive income (loss), net of tax	—		440			396			836
Net change in other comprehensive income (loss), net of tax	1,345		202			306			1,853
Balance at March 31, 2014	$	79,260	$	(2,231	)	$	(110,212	)	$	(33,183	)

	Currency Translation Adjustment, Net of Tax			Net Unrealized Gain (Loss) on Cash Flow Hedging Arrangements, Net of Tax			Pension and Post-Retirement Benefit Related Items, Net of Tax			Total
Balance at December 31, 2012	$	56,012		$	(5,438	)	$	(148,035	)	$	(97,461	)
Other comprehensive income (loss), net of tax:
Unrealized gains (losses) cash flow hedging arrangements	—			(653		)	—			(653		)
Foreign currency translation adjustment	(23,246		)	(10		)	4,287			(18,969		)
Amounts recognized from accumulated other comprehensive income (loss), net of tax	—			842			1,665			2,507
Net change in other comprehensive income (loss), net of tax	(23,246		)	179			5,952			(17,115		)
Balance at March 31, 2013	$	32,766		$	(5,259	)	$	(142,083	)	$	(114,576	)

The following table presents amounts recognized from accumulated other comprehensive income for the three months ended March 31:

	2014			2013
	Amount Recognized From Accumulated Other Comprehensive Income (Loss)					Location of Amounts Recognized in Earnings
Effective portion of (gains) losses on cash flow hedging arrangements:
Interest rate swap agreements	$	768		$	755	Interest expense
Foreign currency forward contracts	(41		)	475		Cost of sales - products
Total before taxes	727			1,230
Provision for taxes	287			388		Provision for taxes
Total, net of taxes	$	440		$	842
Recognition of defined benefit pension and post-retirement items:
Recognition of actuarial (gains) losses, plan amendments and prior service cost, before taxes	$	712		$	2,572	(a)
Provision for taxes	316			907		Provision for taxes
Total, net of taxes	$	396		$	1,665

(a) These accumulated other comprehensive income (loss) components are included in the computation of net periodic pension and post-retirement cost. See Note 10 for additional details for the three months ended March 31, 2014 and 2013.

Comprehensive income (loss), net of tax consisted of the following:

	March 31, 2014		March 31, 2013
Net earnings	$	58,051	$	52,544
Other comprehensive income (loss), net of tax	1,853		$	(17,115	)
Comprehensive income (loss), net of tax	$	59,904	$	35,429

XML

Net Periodic Benefit Cost

3 Months Ended

Mar. 31, 2014

Compensation and Retirement Disclosure [Abstract]

NET PERIODIC BENEFIT COST

NET PERIODIC BENEFIT COST

Net periodic pension cost for the Company’s defined benefit pension plans and U.S. post-retirement medical plan includes the following components for the three months ended March 31:

	U.S. Pension Benefits						Non-U.S. Pension Benefits						Other U.S. Post-retirement Benefits						Total
	2014			2013			2014			2013			2014			2013			2014			2013
Service cost, net	$	223		$	123		$	3,962		$	4,369		$	43		$	54		$	4,228		$	4,546
Interest cost on projected benefit obligations	1,599			1,439			5,483			4,883			60			101			7,142			6,423
Expected return on plan assets	(2,137		)	(1,788		)	(9,544		)	(8,692		)	—			—			(11,681		)	(10,480		)
Recognition of prior service cost	—			—			(1,040		)	(994		)	(195		)	22			(1,235		)	(972		)
Recognition of actuarial losses/(gains)	1,200			1,945			1,106			1,846			(359		)	(247		)	1,947			3,544
Net periodic pension cost/(credit)	$	885		$	1,719		$	(33	)	$	1,412		$	(451	)	$	(70	)	$	401		$	3,061

As previously disclosed in the Company’s Annual Report on Form 10-K for the year ended December 31, 2013, the Company expects to make employer contributions of approximately $21.8 million to its non-U.S. pension plan and employer contributions of approximately $0.5 million to itsU.S. post-retirement medical plan during the year ended December 31, 2014. These estimates may change based upon several factors, including fluctuations in currency exchange rates, actual returns on plan assets and changes in legal requirements.

XML

Financial Instruments (Details) (USD $) In Thousands, unless otherwise specified	3 Months Ended
	Mar. 31, 2014	Mar. 31, 2013	Dec. 31, 2013
3.24% $100 Million Interest Rate Swap [Member] | Designated as Hedging Instrument [Member]
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Line Of Credit Facility Forecasted Borrowing Amount	$ 100,000
Derivative, Fixed Interest Rate	3.24%
Interest Rate Cash Flow Hedge Derivative at Fair Value, Net	4,668		5,312
Unrealized Gain (Loss) on Interest Rate Cash Flow Hedges, Pretax, Accumulated Other Comprehensive Income (Loss)	(125)	(61)
Unrealized Gain (Loss) on Interest Rate Cash Flow Hedge, Net of Tax, Accumulated Other Comprehensive Income (Loss)	(77)	(37)
Interest Rate Cash Flow Hedge Gain (Loss) Reclassified to Earnings, Net	(768)	(755)
Interest Rate Cash Flow Hedge Gain (Loss) Reclassified to Earnings, Net, Net of Tax	(472)	(465)
Interest Rate Cash Flow Hedge Gain (Loss) to be Reclassified During Next 12 Months, Net	(3,069)
Gain (Loss) on Interest Rate Cash Flow Hedge Ineffectiveness	0	0
2.52% $50 Million Interest Rate Swap [Member] | Designated as Hedging Instrument [Member]
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Line Of Credit Facility Forecasted Borrowing Amount	50,000
Derivative, Fixed Interest Rate	2.52%
Interest Rate Cash Flow Hedge Asset at Fair Value	565		1,269
Unrealized Gain (Loss) on Interest Rate Cash Flow Hedges, Pretax, Accumulated Other Comprehensive Income (Loss)	(703)
Unrealized Gain (Loss) on Interest Rate Cash Flow Hedge, Net of Tax, Accumulated Other Comprehensive Income (Loss)	(432)
Foreign Exchange Forward [Member] | Designated as Hedging Instrument [Member]
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative, Notional Amount	78,194		78,200
Foreign Currency Cash Flow Hedge Asset at Fair Value	469		268
Foreign Currency Cash Flow Hedge Liability at Fair Value	0		103
Unrealized Gain (Loss) on Foreign Currency Derivatives, Net, before Tax	260	(787)
Unrealized Gain (Loss) on Foreign Currency Derivatives, Net, After Tax	207	(626)
Foreign Currency Cash Flow Hedge Gain (Loss) Reclassified to Earnings, Net	40	(475)
Foreign Currency Cash Flow Hedge Gain Loss Reclassified To Earnings, Net, After Tax	32	(378)
Foreign Currency Cash Flow Hedge Gain (Loss) to be Reclassified During Next 12 Months	454
Gain (Loss) on Interest Rate Cash Flow Hedge Ineffectiveness	0	0
Foreign Exchange Forward [Member] | Not Designated as Hedging Instrument [Member]
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative, Notional Amount	173,929		180,321
Foreign Currency Derivative Instruments Not Designated as Hedging Instruments, Asset at Fair Value	235		719
Foreign Currency Derivative Instruments Not Designated as Hedging Instruments, Liability at Fair Value	775		355
Gain (Loss) on Foreign Currency Derivative Instruments Not Designated as Hedging Instruments	$ (246)	$ (2,225)

XML

Summary of Significant Accounting Policies (Policies)

3 Months Ended

Mar. 31, 2014

Accounting Policies [Abstract]

Trade Accounts Receivable

Trade Accounts Receivable

Trade accounts receivable are recorded at the invoiced amount and do not bear interest. The allowance for doubtful accounts represents the Company’s best estimate of probable credit losses in its existing trade accounts receivable. The Company determines the allowance based upon a review of both specific accounts for collection and the age of the accounts receivable portfolio.

Inventories

Inventories

Inventories are valued at the lower of cost or net realizable value. Cost, which includes direct materials, labor and overhead, is generally determined using the first in, first out (FIFO) method. The estimated net realizable value is based on assumptions for future demand and related pricing. Adjustments to the cost basis of the Company’s inventory are made for excess and obsolete items based on usage, orders and technological obsolescence. If actual market conditions are less favorable than those projected by management, reductions in the value of inventory may be required.

Inventories consisted of the following:

	March 31, 2014		December 31, 2013
Raw materials and parts	$	102,512	$	98,244
Work-in-progress	42,036		38,061
Finished goods	79,872		74,109
	$	224,420	$	210,414

Goodwill and Other Intangible Assets

Goodwill and Other Intangible Assets

Goodwill, representing the excess of purchase price over the net asset value of companies acquired, and indefinite-lived intangible assets are not amortized, but are reviewed for impairment annually in the fourth quarter, or more frequently if events or changes in circumstances indicate that an asset might be impaired. The annual evaluation for goodwill is generally based on an assessment of qualitative factors to determine whether it is more likely than not that the fair value of a reporting unit is less than its carrying amount. If the Company is unable to conclude that a reporting unit is not impaired after considering the totality of events and circumstances during its qualitative assessment, the Company performs the first step of the two-step impairment test by estimating the fair value of the reporting unit and comparing the fair value to the carrying amount of the reporting unit. If the carrying amount of a reporting unit exceeds its fair value, then the Company performs the second step of the goodwill impairment test to measure the amount of the impairment loss, if any. The annual evaluation for indefinite-lived intangible assets is based on valuation models that estimate fair value based on expected future cash flows and profitability projections.

Other intangible assets include indefinite-lived assets and assets subject to amortization. Where applicable, amortization is charged on a straight-line basis over the expected period to be benefited. The straight-line method of amortization reflects an appropriate allocation of the cost of the intangible assets to earnings in proportion to the amount of economic benefits obtained by the Company in each reporting period. The Company assesses the initial acquisition of intangible assets in accordance with the provisions of ASC 805 “Business Combinations” and the continued accounting for previously recognized intangible assets and goodwill in accordance with the provisions of ASC 350 “Intangibles – Goodwill and Other” and ASC 360 “Property, Plant and Equipment.”

Other intangible assets consisted of the following:

	March 31, 2014							December 31, 2013
	Gross Amount		Accumulated Amortization			Intangibles, Net		Gross Amount		Accumulated Amortization			Intangibles, Net
Customer relationships	$	98,329	$	(26,141	)	$	72,188	$	98,374	$	(25,313	)	$	73,061
Proven technology and patents	43,191		(30,232		)	12,959		43,233		(29,763		)	13,470
Tradename (finite life)	4,332		(1,732		)	2,600		4,300		(1,619		)	2,681
Tradename (indefinite life)	25,121		—			25,121		25,108		—			25,108
Other	758		(707		)	51		757		(659		)	98
	$	171,731	$	(58,812	)	$	112,919	$	171,772	$	(57,354	)	$	114,418

The Company recognized amortization expense associated with the above intangible assets of $1.6 million and $1.4 million for the three months ended March 31, 2014 and 2013, respectively. The annual aggregate amortization expense based on the current balance of other intangible assets is estimated at $6.0 million for 2014, $5.3 million for 2015, $5.1 million for 2016, $4.9 million for 2017, $4.6 million for 2018 and $4.3 million for 2019. Purchased intangible amortization was $1.3 million ($0.9 million after tax) for both the three months ended March 31, 2014 and 2013.

In addition to the above amortization, the Company recorded amortization expense associated with capitalized software of $5.5 million and $3.7 million for the three months ended March 31, 2014 and 2013, respectively.

Revenue Recognition

Revenue Recognition

Revenue is recognized when title to a product has transferred and any significant customer obligations have been fulfilled. Standard shipping terms are generally FOB shipping point in most countries and, accordingly, title and risk of loss transfers upon shipment. In countries where title cannot legally transfer before delivery, the Company defers revenue recognition until delivery has occurred. The Company generally maintains the right to accept or reject a product return in its terms and conditions and also maintains appropriate accruals for outstanding credits. Shipping and handling costs charged to customers are included in total net sales and the associated expense is recorded in cost of sales for all periods presented. Other than a few small software applications, the Company does not sell software products without the related hardware instrument as the software is embedded in the instrument. The Company’s products typically require no significant production, modification or customization of the hardware or software that is essential to the functionality of the products. To the extent the Company’s solutions have a post-shipment obligation, such as customer acceptance, revenue is deferred until the obligation has been completed. The Company defers product revenue where installation is required, unless such installation is deemed perfunctory. The Company also sometimes enters into certain arrangements that require the separate delivery of multiple goods and/or services. These deliverables are accounted for separately if the deliverables have standalone value and the performance of undelivered items is probable and within the Company's control. The allocation of revenue between the separate deliverables is typically based on the relative selling price at the time of the sale in accordance with a number of factors including service technician billing rates, time to install and geographic location.

Further, certain products are also sold through indirect distribution channels whereby the distributor assumes any further obligations to the customer upon title transfer. Revenue is recognized on these products upon transfer of title and risk of loss to its distributors. Distributor discounts are offset against revenue at the time such revenue is recognized.

Service revenue not under contract is recognized upon the completion of the service performed. Spare parts sold on a stand-alone basis are recognized upon title and risk of loss transfer which is generally at the time of shipment. Revenues from service contracts are recognized ratably over the contract period. These contracts represent an obligation to perform repair and other services including regulatory compliance qualification, calibration, certification and preventative maintenance on a customer’s pre-defined equipment over the contract period. Service contracts are separately priced and payment is typically received from the customer at the beginning of the contract period.

Warranty

Warranty

The Company generally offers one-year warranties on most of its products. Product warranties are recorded at the time revenue is recognized. While the Company engages in extensive product quality programs and processes, its warranty obligation is affected by product failure rates, material usage and service costs incurred in correcting a product failure.

The Company’s accrual for product warranties is included in accrued and other liabilities in the consolidated balance sheets. Changes to the Company’s accrual for product warranties for the three months ended March 31 are as follows:

	March 31, 2014			March 31, 2013
Balance at beginning of period	$	16,991		$	16,295
Accruals for warranties	4,685			4,515
Foreign currency translation	28			(258		)
Payments / utilizations	(4,897		)	(5,002		)
Balance at end of period	$	16,807		$	15,550

Employee Termination Benefits

Employee Termination Benefits

In situations where contractual termination benefits exist, the Company records accruals for employee termination benefits when it is probable that a liability has been incurred and the amount of the liability is reasonably estimable. All other employee termination arrangements are recognized and measured at their fair value at the communication date unless the employee is required to render additional service beyond the legal notification period, in which case the liability is recognized ratably over the future service period.

Share - Based Compensation

Share-Based Compensation

The Company recognizes share-based compensation expense within selling, general and administrative in the consolidated statements of operations and comprehensive income with a corresponding offset to additional paid-in capital in the consolidated balance sheet. The Company recorded $3.2 million and $2.8 million of share-based compensation expense for the three months ended March 31, 2014 and 2013, respectively.

Research and Development

Research and Development

Research and development costs primarily consist of salaries, consulting and other costs. The Company expenses these costs as incurred.

XML

Earnings Per Common Share (Tables)

3 Months Ended

Mar. 31, 2014

Earnings Per Share [Abstract]

Diluted weighted average number of common shares outstanding

In accordance with the treasury stock method, the Company has included the following common equivalent shares in the calculation of diluted weighted average number of common shares outstanding for the three months ended March 31, relating to outstanding stock options and restricted stock units:

	2014	2013
Three months ended	718,013	802,410

XML

Segment Reporting (Details Textuals) (USD $) In Thousands, unless otherwise specified	3 Months Ended
	Mar. 31, 2014	Mar. 31, 2013
Segment Reporting (Textuals) [Abstract]
Restructuring Charges	$ 1,492	$ 5,002
Western European Operations [Member]
Segment Reporting (Textuals) [Abstract]
Restructuring Charges	100	800
Chinese Operations [Member]
Segment Reporting (Textuals) [Abstract]
Restructuring Charges	200	700
Other Operations [Member]
Segment Reporting (Textuals) [Abstract]
Restructuring Charges	300	200
Us Operations segment Member
Segment Reporting (Textuals) [Abstract]
Restructuring Charges	600	400
Swiss Operations segment Member
Segment Reporting (Textuals) [Abstract]
Restructuring Charges	$ 300	$ 2,900

XML

Accumulated Other Comprehensive Income Details 1 (Details) (USD $) In Thousands, unless otherwise specified	3 Months Ended		12 Months Ended
	Mar. 31, 2014	Mar. 31, 2013	Dec. 31, 2013
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items]
Interest Expense	$ 5,666	$ 5,400
Cost of Goods Sold	181,198	172,589
Income Tax Expense (Benefit)	18,333	16,592
Net Income (Loss) Attributable to Parent	58,051	52,544	306,094
Net Unrealized Gain (Loss) on Cash Flow Hedging Arrangements, Net Of Tax [Member]
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items]
Interest Expense	768	755
Cost of Goods Sold	(41)	475
Income (Loss) from Continuing Operations before Income Taxes, Extraordinary Items, Noncontrolling Interest	727	1,230
Income Tax Expense (Benefit)	287	388
Net Income (Loss) Attributable to Parent	440	842
Accumulated Defined Benefit Plans Adjustment [Member]
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items]
Other Comprehensive (Income) Loss, Pension and Other Postretirement Benefit Plans, Adjustment, before Tax, Portion Attributable to Parent	712	2,572
Income Tax Expense (Benefit)	316	907
Net Income (Loss) Attributable to Parent	$ (396)	$ (1,665)

XML

Interim Consolidated Statements of Shareholders' Equity and Comprehensive Income (Unaudited) (USD $) In Thousands, except Share data	Total	Common Stock	Additional Paid-in Capital	Treasury Stock	Retained Earnings	Accumulated Other Comprehensive Income (Loss)
Beginning balance at Dec. 31, 2012	$ 827,219	$ 448	$ 638,705	$ (1,463,924)	$ 1,749,451	$ (97,461)
Beginning balance, shares at Dec. 31, 2012		30,410,006
Stock Issued During Period, Value, Treasury Stock Reissued	19,745			37,870	(18,125)
Exercise of stock options and restricted stock units, shares		398,646
Repurchases of common stock	(294,976)			(294,976)
Repurchases of common stock, shares		(1,321,577)
Tax benefit resulting from exercise of certain employee stock options	1,906		1,906
Adjustment to Additional Paid in Capital, Share-Based Compensation	12,639		12,639
Net Income (Loss) Attributable to Parent	306,094				306,094
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent	62,425					62,425
Ending balance at Dec. 31, 2013	935,052	448	653,250	(1,721,030)	2,037,420	(35,036)
Ending balance, shares at Dec. 31, 2013	29,487,075	29,487,075
Stock Issued During Period, Value, Treasury Stock Reissued	3,450			6,978	(3,528)
Exercise of stock options and restricted stock units, shares	69,442	69,442
Repurchases of common stock	(82,498)			(82,498)
Repurchases of common stock, shares	(336,188)	(336,188)
Tax benefit resulting from exercise of certain employee stock options	4,495		4,495
Adjustment to Additional Paid in Capital, Share-Based Compensation	3,201		3,201
Net Income (Loss) Attributable to Parent	58,051				58,051
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent	1,853					1,853
Ending balance at Mar. 31, 2014	$ 923,604	$ 448	$ 660,946	$ (1,796,550)	$ 2,091,943	$ (33,183)
Ending balance, shares at Mar. 31, 2014	29,220,329	29,220,329

XML

Fair Value Measurements

3 Months Ended

Mar. 31, 2014

Fair Value Disclosures [Abstract]

FAIR VALUE MEASUREMENTS

FAIR VALUE MEASUREMENTS

At March 31, 2014 and December 31, 2013, the Company had derivative assets totaling $1.3 million and $2.3 million, respectively, and derivative liabilities totaling $5.4 million and $5.8 million, respectively. The fair values of the interest rate swap agreement, foreign currency forward contracts designated as cash flow hedges and foreign currency forward contracts that economically hedge short-term intercompany balances are estimated based upon inputs from current valuation information obtained from dealer quotes and priced with observable market assumptions and appropriate valuation adjustments for credit risk. The Company has evaluated the valuation methodologies used to develop the fair values by dealers in order to determine whether such valuations are representative of an exit price in the Company’s principal market. In addition, the Company uses an internally developed model to perform testing on the valuations received from brokers. The Company has also considered both its own credit risk and counterparty credit risk in determining fair value and determined these adjustments were insignificant at March 31, 2014 and December 31, 2013.

At March 31, 2014 and December 31, 2013, the Company had $10.8 million and $16.9 million of cash equivalents, respectively, the fair value of which is determined through quoted and corroborated prices in active markets. The fair value of cash equivalents approximates cost.

The difference between the fair value and carrying value of the Company's long-term debt is not material and is classified in Level 2 and Level 3 of the fair value hierarchy. The fair value of the Company's debt is estimated based on either similar issues or other inputs derived from available market information, including interest rates, term of debt and creditworthiness.

Under U.S. GAAP, fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. A fair value measurement consists of observable and unobservable inputs that reflect the assumptions that a market participant would use in pricing an asset or liability.

A fair value hierarchy has been established that categorizes these inputs into three levels:

Level 1: Quoted prices in active markets for identical assets and liabilities

Level 2: Observable inputs other than quoted prices in active markets for identical assets and liabilities

Level 3: Unobservable inputs

The following table presents for each of these hierarchy levels, the Company’s assets and liabilities that are measured at fair value on a recurring basis at March 31, 2014 and December 31, 2013:

	March 31, 2014								December 31, 2013
	Total		Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3
Assets:
Cash equivalents	$	10,787	$	—	$	10,787	$	—	$	16,868	$	—	$	16,868	$	—
Interest rate swap agreement	565		—		565		—		1,269		—		1,269		—
Foreign currency forward contracts designated as cash flow hedge	469		—		469		—		268		—		268		—
Foreign currency forward contracts not designated as hedging instruments	235		—		235		—		719		—		719		—
Total	$	12,056	$	—	$	12,056	$	—	$	19,124	$	—	$	19,124	$	—
Liabilities:
Interest rate swap agreement	$	4,668	$	—	$	4,668	$	—	$	5,312	$	—	$	5,312	$	—
Foreign currency forward contracts designated as cash flow hedge	3		—		3		—		103		—		103		—
Foreign currency forward contracts not designated as hedging instruments	775		—		775		—		355		—		355		—
Total	$	5,446	$	—	$	5,446	$	—	$	5,770	$	—	$	5,770	$	—

XML

Net Periodic Benefit Cost (Tables)

3 Months Ended

Mar. 31, 2014

Compensation and Retirement Disclosure [Abstract]

Net periodic benefit cost

Net periodic pension cost for the Company’s defined benefit pension plans and U.S. post-retirement medical plan includes the following components for the three months ended March 31:

	U.S. Pension Benefits						Non-U.S. Pension Benefits						Other U.S. Post-retirement Benefits						Total
	2014			2013			2014			2013			2014			2013			2014			2013
Service cost, net	$	223		$	123		$	3,962		$	4,369		$	43		$	54		$	4,228		$	4,546
Interest cost on projected benefit obligations	1,599			1,439			5,483			4,883			60			101			7,142			6,423
Expected return on plan assets	(2,137		)	(1,788		)	(9,544		)	(8,692		)	—			—			(11,681		)	(10,480		)
Recognition of prior service cost	—			—			(1,040		)	(994		)	(195		)	22			(1,235		)	(972		)
Recognition of actuarial losses/(gains)	1,200			1,945			1,106			1,846			(359		)	(247		)	1,947			3,544
Net periodic pension cost/(credit)	$	885		$	1,719		$	(33	)	$	1,412		$	(451	)	$	(70	)	$	401		$	3,061

XML

Debt (Details) (USD $) In Thousands, unless otherwise specified					3 Months Ended			3 Months Ended			3 Months Ended
	Mar. 31, 2014	Dec. 31, 2013	Mar. 31, 2014 US Dollar Amounts [Member]	Mar. 31, 2014 Other Principal Trading Currencies [Member]	Mar. 31, 2014 6.3% Senior Notes [Member]	Mar. 31, 2014 6.3% Senior Notes [Member] US Dollar Amounts [Member]	Mar. 31, 2014 6.3% Senior Notes [Member] Other Principal Trading Currencies [Member]	Mar. 31, 2014 3.67 Percent Senior Notes [Member]	Mar. 31, 2014 3.67 Percent Senior Notes [Member] US Dollar Amounts [Member]	Mar. 31, 2014 3.67 Percent Senior Notes [Member] Other Principal Trading Currencies [Member]	Mar. 31, 2014 4.10% Senior Notes [Member]	Mar. 31, 2014 4.10% Senior Notes [Member] US Dollar Amounts [Member]	Mar. 31, 2014 4.10% Senior Notes [Member] Other Principal Trading Currencies [Member]	Mar. 31, 2014 $ 800 Million Credit Agreement [Member]	Mar. 31, 2014 $ 800 Million Credit Agreement [Member] US Dollar Amounts [Member]	Mar. 31, 2014 $ 800 Million Credit Agreement [Member] Other Principal Trading Currencies [Member]	Mar. 31, 2014 Other Local Arrangements [Member]	Mar. 31, 2014 Other Local Arrangements [Member] US Dollar Amounts [Member]	Mar. 31, 2014 Other Local Arrangements [Member] Other Principal Trading Currencies [Member]
Debt Instrument [Line Items]
Senior Notes					$ 100,000	$ 100,000	$ 0	$ 50,000	$ 50,000	$ 0	$ 50,000	$ 50,000	$ 0
Line of Credit Facility, Amount Outstanding														249,582	231,584	17,998
Other Borrowings																	16,255	0	16,255
Long-Term Debt, by Current and Noncurrent, and Short-Term Debt
Total debt	465,837		431,584	34,253
Less: current portion	(16,255)	(17,067)	0	(16,255)
Long-Term Debt
Long-term debt	449,582	395,960	431,584	17,998
Debt Instrument, Face Amount					100,000			50,000			50,000
Debt Instrument, Maturity Date					Jun. 25, 2015			Dec. 17, 2022			Sep. 19, 2023
Debt Instrument, Interest Rate, Stated Percentage					6.30%			3.67%			4.10%
Line of Credit Facility, Remaining Borrowing Capacity														$ 546,400

XML

Contingencies

3 Months Ended

Mar. 31, 2014

Commitments and Contingencies Disclosure [Abstract]

CONTINGENCIES

CONTINGENCIES

The Company is party to various legal proceedings, including certain environmental matters, incidental to the normal course of business. Management does not expect that any of such proceedings, either individually or in the aggregate, will have a material adverse effect on the Company’s financial condition, results of operations or cash flows.