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 JUNE 30, 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 28,887,558 shares of Common Stock outstanding at June 30, 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 June 30, 2014 and 2013	3
	Interim Consolidated Statements of Operations and Comprehensive Income for the six months ended June 30, 2014 and 2013	4
	Interim Consolidated Balance Sheets as of June 30, 2014 and December 31, 2013	5
	Interim Consolidated Statements of Shareholders’ Equity for the six months ended June 30, 2014 and twelve months ended December 31, 2013	6
	Interim Consolidated Statements of Cash Flows for the six months ended June 30, 2014 and 2013	7
	Notes to the Interim Consolidated Financial Statements at June 30, 2014	8
Item 2.	Management’s Discussion and Analysis of Financial Condition and Results of Operations	22
Item 3.	Quantitative and Qualitative Disclosures About Market Risk	31
Item 4.	Controls and Procedures	31
	PART II. OTHER INFORMATION
Item 1.	Legal Proceedings	32
Item 1A.	Risk Factors	32
Item 2.	Unregistered Sales of Equity Securities and Use of Proceeds	32
Item 3.	Defaults upon Senior Securities	32
Item 5.	Other Information	32
Item 6.	Exhibits	32
SIGNATURE		33

PART I. FINANCIAL INFORMATION

Item 1. Financial Statements

METTLER-TOLEDO INTERNATIONAL INC.

INTERIM CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME

Three months ended June 30, 2014 and 2013

(In thousands, except share data)

(unaudited)

	June 30, 2014		June 30, 2013
Net sales
Products	$	468,678	$	450,128
Service	140,156		128,552
Total net sales	608,834		578,680
Cost of sales
Products	199,458		193,839
Service	81,200		75,998
Gross profit	328,176		308,843
Research and development	32,125		29,003
Selling, general and administrative	183,103		173,434
Amortization	7,283		5,807
Interest expense	5,956		5,543
Restructuring charges	1,905		3,196
Other charges (income), net	406		987
Earnings before taxes	97,398		90,873
Provision for taxes	23,376		21,811
Net earnings	$	74,022	$	69,062
Basic earnings per common share:
Net earnings	$	2.55	$	2.29
Weighted average number of common shares	29,074,695		30,119,889
Diluted earnings per common share:
Net earnings	$	2.49	$	2.24
Weighted average number of common and common equivalent shares	29,750,815		30,849,934
Comprehensive income, net of tax (Note 8)	$	71,631	$	74,897

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

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METTLER-TOLEDO INTERNATIONAL INC.

INTERIM CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME

Six months ended June 30, 2014 and 2013

(In thousands, except share data)

(unaudited)

	June 30, 2014		June 30, 2013
Net sales
Products	$	890,826	$	852,466
Service	268,629		250,567
Total net sales	1,159,455		1,103,033
Cost of sales
Products	380,656		366,428
Service	157,982		148,604
Gross profit	620,817		588,001
Research and development	61,622		56,703
Selling, general and administrative	355,294		339,459
Amortization	14,377		10,929
Interest expense	11,622		10,943
Restructuring charges	3,397		8,198
Other charges (income), net	723		1,760
Earnings before taxes	173,782		160,009
Provision for taxes	41,709		38,403
Net earnings	$	132,073	$	121,606
Basic earnings per common share:
Net earnings	$	4.52	$	4.03
Weighted average number of common shares	29,221,647		30,209,729
Diluted earnings per common share:
Net earnings	$	4.41	$	3.93
Weighted average number of common and common equivalent shares	29,918,456		30,975,957
Comprehensive income, net of tax (Note 8)	$	131,536	$	110,326

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

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METTLER-TOLEDO INTERNATIONAL INC.

INTERIM CONSOLIDATED BALANCE SHEETS

As of June 30, 2014 and December 31, 2013

(In thousands, except share data)

(unaudited)

	June 30, 2014			December 31, 2013
ASSETS
Current assets:
Cash and cash equivalents	$	111,012		$	111,874
Trade accounts receivable, less allowances of $15,925 at June 30, 2014	427,495			466,703
and $14,856 at December 31, 2013
Inventories	224,448			210,414
Current deferred tax assets, net	59,027			57,934
Other current assets and prepaid expenses	64,406			67,062
Total current assets	886,388			913,987
Property, plant and equipment, net	521,884			514,438
Goodwill	457,759			455,842
Other intangible assets, net	114,257			114,418
Non-current deferred tax assets, net	22,093			24,121
Other non-current assets	141,039			130,013
Total assets	$	2,143,420		$	2,152,819
LIABILITIES AND SHAREHOLDERS’ EQUITY
Current liabilities:
Trade accounts payable	$	140,105		$	145,993
Accrued and other liabilities	117,763			116,831
Accrued compensation and related items	104,969			123,493
Deferred revenue and customer prepayments	97,782			83,083
Taxes payable	42,260			61,502
Current deferred tax liabilities	16,196			16,219
Short-term borrowings and current maturities of long-term debt	121,306			17,067
Total current liabilities	640,381			564,188
Long-term debt	345,364			395,960
Non-current deferred tax liabilities	61,740			64,449
Other non-current liabilities	188,221			193,170
Total liabilities	1,235,706			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;
issued 44,786,011 and 44,786,011 shares; outstanding 28,887,558 and 29,487,075
shares at June 30, 2014 and December 31, 2013, respectively	448			448
Additional paid-in capital	669,322			653,250
Treasury stock at cost (15,898,453 shares at June 30, 2014 and 15,298,936 shares at December 31, 2013)	(1,888,911		)	(1,721,030		)
Retained earnings	2,162,428			2,037,420
Accumulated other comprehensive income (loss)	(35,573		)	(35,036		)
Total shareholders’ equity	907,714			935,052
Total liabilities and shareholders’ equity	$	2,143,420		$	2,152,819

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

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METTLER-TOLEDO INTERNATIONAL INC.

INTERIM CONSOLIDATED STATEMENTS OF SHAREHOLDERS’ EQUITY

Six months ended June 30, 2014 and twelve months ended December 31, 2013

(In thousands, except share data)

(unaudited)

					Additional Paid-in Capital								Accumulated Other Comprehensive Income (Loss)
	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	157,857		—		—		16,097			(7,065		)	—			9,032
Repurchases of common stock	(757,374	)	—		—		(183,978		)	—			—			(183,978		)
Tax benefit resulting from exercise of
certain employee stock options	—		—		9,569		—			—			—			9,569
Share-based compensation	—		—		6,503		—			—			—			6,503
Net earnings	—		—		—		—			132,073			—			132,073
Other comprehensive income (loss),
net of tax (Note 8)	—		—		—		—			—			(537		)	(537		)
Balance at June 30, 2014	28,887,558		$	448	$	669,322	$	(1,888,911	)	$	2,162,428		$	(35,573	)	$	907,714

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

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METTLER-TOLEDO INTERNATIONAL INC.

INTERIM CONSOLIDATED STATEMENTS OF CASH FLOWS

Six months ended June 30, 2014 and 2013

(In thousands)

(unaudited)

	June 30, 2014			June 30, 2013
Cash flows from operating activities:
Net earnings	$	132,073		$	121,606
Adjustments to reconcile net earnings to net cash provided by operating activities:
Depreciation	16,874			17,447
Amortization	14,377			10,929
Deferred tax benefit	(3,442		)	(5,687		)
Excess tax benefits from share-based payment arrangements	(9,569		)	(519		)
Share-based compensation	6,503			5,852
Other	74			408
Increase (decrease) in cash resulting from changes in:
Trade accounts receivable, net	39,967			12,583
Inventories	(13,733		)	(8,158		)
Other current assets	1,990			(5,690		)
Trade accounts payable	(5,458		)	(19,806		)
Taxes payable	(19,250		)	(2,820		)
Accruals and other	(9,429		)	(11,513		)
Net cash provided by operating activities	150,977			114,632
Cash flows from investing activities:
Proceeds from sale of property, plant and equipment	296			115
Purchase of property, plant and equipment	(37,120		)	(36,781		)
Acquisitions	(3,255		)	(213		)
Net cash used in investing activities	(40,079		)	(36,879		)
Cash flows from financing activities:
Proceeds from borrowings	310,018			211,112
Repayments of borrowings	(256,611		)	(136,330		)
Proceeds from stock option exercises	9,032			12,549
Repurchases of common stock	(183,978		)	(144,844		)
Excess tax benefits from share-based payment arrangements	9,569			519
Other financing activities	(81		)	(1,170		)
Net cash used in financing activities	(112,051		)	(58,164		)
Effect of exchange rate changes on cash and cash equivalents	291			(1,074		)
Net increase (decrease) in cash and cash equivalents	(862		)	18,515
Cash and cash equivalents:
Beginning of period	111,874			101,702
End of period	$	111,012		$	120,217

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

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METTLER-TOLEDO INTERNATIONAL INC.

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS

At June 30, 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 June 30, 2014 and for the three and six month periods ended June 30, 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 and six months ended June 30, 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 presentation.

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.

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METTLER-TOLEDO INTERNATIONAL INC.

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS

At June 30, 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:

	June 30, 2014		December 31, 2013
Raw materials and parts	$	101,373	$	98,244
Work-in-progress	41,242		38,061
Finished goods	81,833		74,109
	$	224,448	$	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 and indefinite-lived intangible assets are generally based on an assessment of qualitative and quantitative factors to determine whether it is more likely than not that the fair value of the asset is less than its carrying amount.

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 of benefit. 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 "Intangible - Goodwill and Other" and ASC 360 "Property, Plant and Equipment."

Other intangible assets consisted of the following:

	June 30, 2014							December 31, 2013
	Gross Amount		Accumulated Amortization			Intangibles, Net		Gross Amount		Accumulated Amortization			Intangibles, Net
Customer relationships	$	100,342	$	(27,009	)	$	73,333	$	98,374	$	(25,313	)	$	73,061
Proven technology and patents	43,086		(30,554		)	12,532		43,233		(29,763		)	13,470
Tradename (finite life)	4,375		(1,832		)	2,543		4,300		(1,619		)	2,681
Tradename (indefinite life)	25,105		—			25,105		25,108		—			25,108
Other	1,599		(855		)	744		757		(659		)	98
	$	174,507	$	(60,250	)	$	114,257	$	171,772	$	(57,354	)	$	114,418

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METTLER-TOLEDO INTERNATIONAL INC.

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS

At June 30, 2014 – Unaudited (Continued)

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

The Company recognized amortization expense associated with the above intangible assets of $1.6 million and $1.5 million for the three months ended June 30, 2014 and 2013, respectively and $3.2 million and $2.9 million for the six months ended June 30, 2014 and 2013, respectively. The annual aggregate amortization expense based on the current balance of other intangible assets is estimated at $6.4 million for 2014, $6.0 million for 2015, $5.5 million for 2016, $5.1 million for 2017, $4.9 million for 2018 and $4.5 million for 2019. Purchased intangible amortization was $1.4 million, $1.0 million after tax, and $1.3 million, $0.9 million after tax, for the three months ended June 30, 2014 and 2013, respectively and $2.7 million, $1.9 million after tax, and $2.7 million, $1.8 million after tax, for the six months ended June 30, 2014 and 2013, respectively.

In addition to the above amortization, the Company recorded amortization expense associated with capitalized software of $5.6 million and $4.3 million for the three months ended June 30, 2014 and 2013, respectively and $11.2 million and $8.0 million for the six months ended June 30, 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

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METTLER-TOLEDO INTERNATIONAL INC.

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS

At June 30, 2014 – Unaudited (Continued)

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

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 six months ended June 30 are as follows:

	June 30, 2014			June 30, 2013
Balance at beginning of period	$	16,991		$	16,295
Accruals for warranties	9,427			9,467
Foreign currency translation	(3		)	(185		)
Payments / utilizations	(9,914		)	(9,815		)
Balance at end of period	$	16,501		$	15,762

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 statement of operations with a corresponding offset to additional paid-in capital in the consolidated balance sheet. The Company recorded $3.3 million and $6.5 million of share-based compensation expense for the three and six months ended June 30, 2014, respectively, compared to $3.0 million and $5.8 million for the corresponding periods in 2013.

Research and Development

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

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 certain 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 Hedges

The Company has an interest rate swap agreement, designated as a cash flow hedge. The agreement changes the floating rate LIBOR-based interest payments associated with $100 million in borrowings under the Company’s credit agreement to a fixed obligation of 3.24%. The swap is recorded

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METTLER-TOLEDO INTERNATIONAL INC.

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS

At June 30, 2014 – Unaudited (Continued)

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

gross in other non-current liabilities in the consolidated balance sheet at its fair value as of June 30, 2014 and December 31, 2013 of $4.0 million and $5.3 million, respectively. The amount recognized in other comprehensive income (loss) during the three month periods ended June 30, 2014 and 2013 was a loss of $0.1 million before and after tax, and a gain of $0.2 million, $0.1 million after tax, respectively, and during the six month periods ended June 30, 2014 and 2013 the amount recognized was a loss of $0.2 million, $0.1 million after tax, and a gain of $0.2 million, $0.1 million after tax, respectively. 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 month periods ended June 30, 2014 and 2013, and $1.5 million, $1.0 million after tax, and $1.5 million, $0.9 million after tax, for the six month periods ended June 30, 2014 and 2013, respectively. A derivative loss of $3.1 million, $1.9 million after tax, based upon interest rates at June 30, 2014, is expected to be reclassified from other comprehensive income (loss) to earnings in the next twelve months. Through June 30, 2014 no hedge ineffectiveness has occurred in relation to this hedge.

In June 2013, the Company entered into a forward starting interest rate swap agreement, designated as a cash flow hedge. The agreement which 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 liabilities in the consolidated balance sheet at its fair value as of June 30, 2014 of $0.4 million and in other non-current assets in the consolidated balance sheet at its fair value as of December 31, 2013 of $1.3 million. The amount recognized in other comprehensive income (loss) during the three and six months ended June 30, 2014 was a loss of $0.9 million, $0.6 million after tax, and a loss of $1.6 million, $1.0 million after tax, respectively. The amount recognized in other comprehensive income (loss) during the three and six months ended June 30, 2013 was a gain of $0.9 million, $0.6 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 businesses. The notional amount of foreign currency forward contracts outstanding at June 30, 2014 and December 31, 2013 was $77.4 million and $78.2 million, respectively. The foreign currency forward contracts are recorded gross at their fair value in the consolidated balance sheet at June 30, 2014 in other current assets of $0.4 million. At December 31, 2013, the foreign currency forward contracts are recorded gross at their fair value in the consolidated balance sheet in other current assets of $0.3 million and in accrued and other liabilities of $0.1 million. 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 month period ended June 30, 2014 and 2013 was a gain of $0.1 million before and after tax, and a loss of $0.5 million, $0.4 million after tax, respectively, and during the six months ended June 30, 2014 and 2013, was a gain of $0.4 million, $0.3 million after tax, and a loss of $1.3 million, $1.1 million after tax, respectively. The effective portion reclassified from accumulated other comprehensive income (loss) to cost of sales was a gain of $0.2 million, $0.1 million after tax, and a loss of $0.6 million, $0.4 million after tax, during the three months ended June 30, 2014 and 2013 and a gain of $0.2 million before and after tax, and a loss of $1.0 million, $0.8 million after tax, for the six months ended June 30, 2014 and 2013, respectively. A derivative gain of $0.4 million, $0.3 million after tax, based upon foreign currency rates at June 30, 2014, is expected to be reclassified from other comprehensive income (loss) to earnings in the next twelve months. Through June 30, 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 at their fair value in the consolidated balance sheet

- 12 -

METTLER-TOLEDO INTERNATIONAL INC.

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS

At June 30, 2014 – Unaudited (Continued)

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

at June 30, 2014 and December 31, 2013 in other current assets of $0.3 million and $0.7 million, respectively, and in other liabilities of $0.4 million for both periods. The Company recognized in other charges (income), net, a net loss of $0.7 million and a net gain of $1.5 million during the three months ended June 30, 2014 and 2013, respectively, and a net loss of $0.9 million and $0.7 million during the six months ended June 30, 2014 and 2013, respectively. At June 30, 2014 and December 31, 2013, these contracts had a notional value of $189.2 million and $180.3 million, respectively.

4. FAIR VALUE MEASUREMENTS

At June 30, 2014 and December 31, 2013, the Company had derivative assets totaling $0.6 million and $2.3 million, respectively, and derivative liabilities totaling $4.8 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 June 30, 2014 and December 31, 2013.

At June 30, 2014 and December 31, 2013, the Company had $12.8 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

- 13 -

METTLER-TOLEDO INTERNATIONAL INC.

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS

At June 30, 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 June 30, 2014 and December 31, 2013:

	June 30, 2014								December 31, 2013
	Total		Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3
Assets:
Cash equivalents	$	12,805	$	—	$	12,805	$	—	$	16,868	$	—	$	16,868	$	—
Interest rate swap agreement	—		—		—		—		1,269		—		1,269		—
Foreign currency forwards contracts designed as cash flow hedges	361		—		361		—		268		—		268		—
Foreign currency forward contracts not designated as hedging instruments	284		—		284		—		719		—		719		—
Total	$	13,450	$	—	$	13,450	$	—	$	19,124	$	—	$	19,124	$	—
Liabilities:
Interest rate swap agreement	$	4,379	$	—	$	4,379	$	—	$	5,312	$	—	$	5,312	$	—
Foreign currency forwards contracts designed as cash flow hedges	7		—		7		—		103		—		103		—
Foreign currency forward contracts not designated as hedging instruments	377		—		377		—		355		—		355		—
Total	$	4,763	$	—	$	4,763	$	—	$	5,770	$	—	$	5,770	$	—

5. INCOME TAXES

The provision for taxes for both the three and six month periods ended June 30, 2014 is based upon the Company’s projected annual effective rate of 24%.

6. DEBT

Debt consisted of the following at June 30, 2014:

	June 30, 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	201,811			43,553			245,364
Other local arrangements	1,355			19,951			21,306
Total debt	403,166			63,504			466,670
Less: current portion	(101,355		)	(19,951		)	(121,306		)
Total long-term debt	$	301,811		$	43,553		$	345,364

- 14 -

METTLER-TOLEDO INTERNATIONAL INC.

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS

At June 30, 2014 – Unaudited (Continued)

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

As of June 30, 2014, the Company had $550.9 million of availability remaining under the credit agreement. The Company was in compliance with its covenants at June 30, 2014.

In June 2014, the Company entered into an agreement to issue and sell $250 million of ten-year Senior Notes in a private placement. The Company will issue $125 million with a fixed interest rate of 3.84% ("3.84% Senior Notes") in September 2014 and $125 million with a fixed interest rate of 4.24% ("4.24% Senior Notes") in June 2015. The Senior Notes are senior unsecured obligations of the Company.

Interest on the 3.84% Senior Notes is payable semi-annually in March and September of each year, beginning in March 2015. Interest on the 4.24% Senior Notes is payable semi-annually in June and December of each year, beginning in December 2015. The Company may at any time prepay the Senior Notes, in whole or in part (but in an amount not less than 10% of the original aggregate principal amount), at a price equal to 100% of the principal amount thereof plus accrued and unpaid interest, plus a "make-whole" prepayment premium.

The Senior Notes contain customary affirmative and negative covenants for agreements of this type that are substantially similar to those contained in the previously issued debt of the Company. The Senior Notes also contain customary events of default with customary grace periods, as applicable.

7. SHARE REPURCHASE PROGRAM AND TREASURY STOCK

The Company has a $3 billion share repurchase program, of which there were $708.4 million of remaining common shares authorized to be repurchased under the program at June 30, 2014. 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 22.2 million shares since the inception of the program through June 30, 2014. During the six months ended June 30, 2014 and 2013, the Company spent $184.0 million and $144.8 million on the repurchase of 757,374 shares and 680,934 shares at an average price per share of $242.89 and $212.69, respectively. The Company also reissued 157,857 shares and 216,176 shares held in treasury for the exercise of stock options and restricted stock units during the six months ended June 30, 2014 and 2013, respectively.

- 15 -

METTLER-TOLEDO INTERNATIONAL INC.

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS

At June 30, 2014 – Unaudited (Continued)

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

8. ACCUMULATED OTHER COMPREHENSIVE INCOME

The following table presents changes in accumulated other comprehensive income by component for the six months ended June 30, 2014 and 2013:

	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) on cash flow hedging arrangements	—			(854		)	—			(854		)
Foreign currency translation adjustment	(1,286		)	10			8			(1,268		)
Amounts recognized from accumulated other comprehensive income (loss), net of tax	—			788			797			1,585
Net change in other comprehensive income (loss), net of tax	(1,286		)	(56		)	805			(537		)
Balance at June 30, 2014	$	76,629		$	(2,489	)	$	(109,713	)	$	(35,573	)

	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) on cash flow hedging arrangements	—			(398		)	—			(398		)
Foreign currency translation adjustment	(19,393		)	(4		)	2,872			(16,525		)
Amounts recognized from accumulated other comprehensive income (loss), net of tax	—			1,756			3,887			5,643
Net change in other comprehensive income (loss), net of tax	(19,393		)	1,354			6,759			(11,280		)
Balance at June 30, 2013	$	36,619		$	(4,084	)	$	(141,276	)	$	(108,741	)

- 16 -

METTLER-TOLEDO INTERNATIONAL INC.

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS

At June 30, 2014 – Unaudited (Continued)

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

The following table presents amounts recognized from accumulated other comprehensive income (loss) for the three and six month periods ended June 30:

	Three months ended June 30,
	2014			2013		Location of Amounts Recognized in Earnings
Effective portion of losses on cash flow hedging arrangements:
Interest rate swap agreements	$	778		$	766	Interest expense
Foreign currency forward contracts	(164		)	557		Cost of sales - products
Total before taxes	614			1,323
Provision for taxes	266			409		Provision for taxes
Total, net of taxes	$	348		$	914
Recognition of defined benefit pension and post-retirement items:
Recognition of actuarial losses, plan amendments and prior service cost, before taxes	$	717		$	2,564	(a)
Provision for taxes	316			632		Provision for taxes
Total, net of taxes	$	401		$	1,932

	Six months ended June 30,
	2014			2013		Location of Amounts Recognized in Earnings
Effective portion of losses on cash flow hedging arrangements:
Interest rate swap agreements	$	1,546		$	1,522	Interest expense
Foreign currency forward contracts	(205		)	1,031		Cost of sales - products
Total before taxes	1,341			2,553
Provision for taxes	553			797		Provision for taxes
Total, net of taxes	$	788		$	1,756
Recognition of defined benefit pension and post-retirement items:
Recognition of actuarial losses, plan amendments and prior service cost, before taxes	$	1,429		$	5,136	(a)
Provision for taxes	632			1,249		Provision for taxes
Total, net of taxes	$	797		$	3,887

(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 and six months ended June 30, 2014 and 2013.

- 17 -

METTLER-TOLEDO INTERNATIONAL INC.

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS

At June 30, 2014 – Unaudited (Continued)

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

Comprehensive income (loss), net of tax consisted of the following as of June 30:

	Three Months Ended					Six Months Ended
	2014			2013		2014			2013
Net earnings	$	74,022		$	69,062	$	132,073		$	121,606
Other comprehensive income (loss), net of tax	(2,391		)	5,835		(537		)	(11,280		)
Comprehensive income, net of tax	$	71,631		$	74,897	$	131,536		$	110,326

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 and six month periods endedJune 30, solely relating to outstanding stock options and restricted stock units:

	2014	2013
Three months ended	676,120	730,045
Six months ended	696,809	766,228

Outstanding options and restricted stock units to purchase or receive 158,484 and 141,650 shares of common stock for the three month periods ended June 30, 2014 and 2013, respectively, and options and restricted stock units to purchase or receive 158,548 and 141,636 shares of common stock for the six month periods ended June 30, 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.

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 June 30:

	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		$	3,923		$	4,257		$	43		$	54		$	4,189		$	4,434
Interest cost on projected benefit obligations	1,599			1,439			5,519			4,822			60			101			7,178			6,362
Expected return on plan assets	(2,137		)	(1,788		)	(9,596		)	(8,570		)	—			—			(11,733		)	(10,358		)
Recognition of prior service cost	—			—			(1,030		)	(979		)	(195		)	22			(1,225		)	(957		)
Recognition of actuarial losses/(gains)	1,200			1,945			1,100			1,823			(358		)	(247		)	1,942			3,521
Net periodic pension cost/(credit)	$	885		$	1,719		$	(84	)	$	1,353		$	(450	)	$	(70	)	$	351		$	3,002

- 18 -

METTLER-TOLEDO INTERNATIONAL INC.

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS

At June 30, 2014 – Unaudited (Continued)

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

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 six months ended June 30:

	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	$	446		$	247		$	7,885		$	8,627		$	85		$	108		$	8,416		$	8,982
Interest cost on projected benefit obligations	3,198			2,878			11,002			9,705			120			202			14,320			12,785
Expected return on plan assets	(4,274		)	(3,576		)	(19,140		)	(17,262		)	—			—			(23,414		)	(20,838		)
Recognition of prior service cost	—			—			(2,070		)	(1,973		)	(389		)	43			(2,459		)	(1,930		)
Recognition of actuarial losses/(gains)	2,400			3,891			2,206			3,669			(718		)	(494		)	3,888			7,066
Net periodic pension cost/(credit)	$	1,770		$	3,440		$	(117	)	$	2,766		$	(902	)	$	(141	)	$	751		$	6,065

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 plans 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 and six months ended June 30, 2014, we have incurred $1.9 million and $3.4 million, respectively of restructuring expenses which primarily comprised employee-related costs. 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 six months ended June 30, 2014 is as follows:

	Employee Related			Other			Total
Balance at December 31, 2013	$	13,054		$	131		$	13,185
Restructuring charges	2,945			452			3,397
Cash payments and utilization	(5,488		)	(470		)	(5,958		)
Impact of foreign currency	(77		)	—			(77		)
Balance at June 30, 2014	$	10,434		$	113		$	10,547

12. OTHER CHARGES (INCOME), NET

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

13. SEGMENT REPORTING

As disclosed in Note 18 to the Company's consolidated financial statements for the year ended December 31, 2013, the Company has determined there are five reportable segments:  U.S. Operations, Swiss Operations, Western European Operations, Chinese Operations and Other.

- 19 -

METTLER-TOLEDO INTERNATIONAL INC.

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS

At June 30, 2014 – Unaudited (Continued)

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

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									As of June 30,
For the three months ended	External		Other			Total Net			Segment			2014
June 30, 2014	Customers		Segments			Sales			Profit			Goodwill
U.S. Operations	$	193,353	$	21,136		$	214,489		$	34,723		$	307,975
Swiss Operations	33,742		108,163			141,905			36,559			24,229
Western European Operations	169,917		27,435			197,352			23,685			109,921
Chinese Operations	99,922		37,398			137,320			31,497			738
Other (a)	111,900		1,947			113,847			10,929			14,896
Eliminations and Corporate (b)	—		(196,079		)	(196,079		)	(24,445		)	—
Total	$	608,834	$	—		$	608,834		$	112,948		$	457,759

	Net Sales to		Net Sales to
For the six months ended	External		Other			Total Net			Segment
June 30, 2014	Customers		Segments			Sales			Profit
U.S. Operations	$	357,347	$	41,912		$	399,259		$	58,418
Swiss Operations	65,798		216,388			282,186			72,725
Western European Operations	331,434		56,874			388,308			44,561
Chinese Operations	191,543		72,942			264,485			57,296
Other (a)	213,333		3,082			216,415			20,088
Eliminations and Corporate (b)	—		(391,198		)	(391,198		)	(49,187		)
Total	$	1,159,455	$	—		$	1,159,455		$	203,901

	Net Sales to		Net Sales to									As of June 30,
For the three months ended	External		Other			Total Net			Segment			2013
June 30, 2013	Customers		Segments			Sales			Profit			Goodwill
U.S. Operations	$	186,829	$	16,694		$	203,523		$	33,339		$	307,933
Swiss Operations	31,166		103,519			134,685			36,059			22,966
Western European Operations	156,515		26,481			182,996			23,357			102,114
Chinese Operations	97,771		37,743			135,514			29,374			733
Other (a)	106,399		1,509			107,908			9,431			13,420
Eliminations and Corporate (b)	—		(185,946		)	(185,946		)	(25,154		)	—
Total	$	578,680	$	—		$	578,680		$	106,406		$	447,166

(a) Other includes reporting units in Eastern Europe, Latin America, Southeast Asia and other countries.

(b) Eliminations and Corporate includes the elimination of inter-segment transactions and certain corporate expenses and intercompany investments, which are not included in the Company’s operating segments.

- 20 -

METTLER-TOLEDO INTERNATIONAL INC.

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS

At June 30, 2014 – Unaudited (Continued)

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

	Net Sales to		Net Sales to
For the six months ended	External		Other			Total Net			Segment
June 30, 2013	Customers		Segments			Sales			Profit
U.S. Operations	$	345,013	$	35,273		$	380,286		$	57,996
Swiss Operations	61,863		200,642			262,505			70,260
Western European Operations	302,517		54,593			357,110			41,655
Chinese Operations	188,498		68,145			256,643			54,022
Other (a)	205,142		2,929			208,071			18,918
Eliminations and Corporate (b)	—		(361,582		)	(361,582		)	(51,012		)
Total	$	1,103,033	$	—		$	1,103,033		$	191,839

(a) Other includes reporting units in Eastern Europe, Latin America, Southeast Asia and other countries.

(b) Eliminations and Corporate includes the elimination of inter-segment transactions and certain corporate expenses and intercompany investments, which are not included in the Company’s operating segments.

A reconciliation of earnings before taxes to segment profit for the three and six month periods ended June 30 follows:

	Three Months Ended				Six Months Ended
	2014		2013		2014		2013
Earnings before taxes	$	97,398	$	90,873	$	173,782	$	160,009
Amortization	7,283		5,807		14,377		10,929
Interest expense	5,956		5,543		11,622		10,943
Restructuring charges	1,905		3,196		3,397		8,198
Other charges (income), net	406		987		723		1,760
Segment profit	$	112,948	$	106,406	$	203,901	$	191,839

During the three months ended June 30, 2014, restructuring charges of $1.9 million were recognized, of which $1.0 million, $0.3 million, $0.5 million, and $0.1 million related to the Company’s U.S., Swiss, Western European, and Chinese Operations, respectively. Restructuring charges of $3.2 million were recognized during the three months ended June 30, 2013, of which $0.2 million, $2.4 million, $0.6 million, and $0.1 million related to the Company’s U.S., Swiss, Western European, and Chinese Operations, respectively. Restructuring charges of $3.4 million were recognized during the six months ended June 30, 2014, of which $1.6 million, $0.6 million, $0.6 million, $0.3 million, and $0.3 million related to the Company’s U.S., Swiss, Western European, Chinese, and Other Operations, respectively. Restructuring charges of $8.2 million were recognized during the six months ended June 30, 2013, of which $0.6 million, $5.2 million, $1.3 million, $0.8 million and $0.2 million related to the Company’s U.S., Swiss, Western European, Chinese 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.

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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 and six months ended June 30, 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 for the three and six month periods ended June 30, 2014 and 2013 (amounts in thousands).

	Three months ended June 30,						Six months ended June 30,
	2014			2013			2014			2013
	(unaudited)		%	(unaudited)		%	(unaudited)		%	(unaudited)		%
Net sales	$	608,834	100.0	$	578,680	100.0	$	1,159,455	100.0	$	1,103,033	100.0
Cost of sales	280,658		46.1	269,837		46.6	538,638		46.5	515,032		46.7
Gross profit	328,176		53.9	308,843		53.4	620,817		53.5	588,001		53.3
Research and development	32,125		5.3	29,003		5.0	61,622		5.3	56,703		5.1
Selling, general and administrative	183,103		30.1	173,434		30.0	355,294		30.6	339,459		30.8
Amortization	7,283		1.2	5,807		1.0	14,377		1.2	10,929		1.0
Interest expense	5,956		1.0	5,543		1.0	11,622		1.0	10,943		1.0
Restructuring charges	1,905		0.3	3,196		0.6	3,397		0.3	8,198		0.7
Other charges (income), net	406		—	987		0.1	723		0.1	1,760		0.2
Earnings before taxes	97,398		16.0	90,873		15.7	173,782		15.0	160,009		14.5
Provision for taxes	23,376		3.8	21,811		3.8	41,709		3.6	38,403		3.5
Net earnings	$	74,022	12.2	$	69,062	11.9	$	132,073	11.4	$	121,606	11.0

Net sales

Net sales were $608.8 million and $578.7 million for the three months ended June 30, 2014 and 2013, respectively, and $1.159 billion and $1.103 billion for the six months ended June 30, 2014 and 2013. This represents an increase of 5% in U.S. dollars for both the three and six months ended June 30, 2014. Excluding the effect of currency exchange rate fluctuations, or in local currencies, net sales increased 4% for both the three and six months ended June 30, 2014, as compared to prior year comparable periods. Net sales in local currency for the three and six months ended were reduced by approximately 1% due to the exit of certain industrial-related businesses in China. Market conditions improved during the six months ended June 30, 2014, particularly in Europe and the Americas. However, global market conditions remain uncertain, especially in emerging markets, and we continue to be cautious regarding our sales growth outlook.

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Net sales by geographic destination for the three months ended June 30, 2014 in U.S. dollars and local currencies increased in the Americas 5% and 5%, in Europe 8% and 3% and in Asia/Rest of World 2% and 3%, respectively. Our net sales by geographic destination for the six months ended June 30, 2014 in U.S dollars and local currencies increased 4% and 4% in the Americas, increased in Europe 10% and 6% and in Asia/Rest of World 1% and 2%, respectively. Net sales in local currency for Asia/Rest of World for both the three and six months ended June 30, 2014 were reduced by approximately 2% 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 4% in U.S. dollars and 3% in local currencies for the three months ended June 30, 2014 and increased 4% in both U.S. dollars and local currencies for the six months ended June 30, 2014, compared to the corresponding periods in 2013. Service revenue (including spare parts) increased by 9% in U.S. dollars and 7% in local currencies for the three months ended June 30, 2014 and increased in 7% in U.S. dollars and 6% in local currencies for the six months ended June 30, 2014, compared to the corresponding periods in 2013.

Net sales of our laboratory-related products, which represented approximately 46% of our total net sales increased 7% in U.S. dollars and 6% in local currencies for both the three and six months ended June 30, 2014. The increase in net sales of our laboratory-related products for the three and six months ended June 30, 2014 is principally driven by strong volume and favorable price realization in most categories, particularly in laboratory balances.

Net sales of our industrial-related products, which represented approximately 45% of our total net sales increased 4% and 3% in U.S. dollars and local currency for the three months ended June 30, 2014, respectively, and 3% and 2% in U.S. dollars and local currencies for the six months ended June 30, 2014, respectively, compared to the corresponding prior year periods. The increase in net sales of our industrial-related products includes strong volume in our product inspection business, particularly during the three months ended June 30, 2014. These results were offset in part by the exit of certain industrial-related businesses in China, which decreased industrial-related sales in local currency 2% and 1% for the three and six months ended June 30, 2014, respectively. Overall Chinese market conditions for our industrial products remain weak. Growth in China can be expected to be volatile and the timing of recovery can be uncertain.

Net sales in our food retailing products, which represented approximately 9% of our total net sales, increased 1% and decreased 1% in U.S. dollars and local currency for the three months ended June 30, 2014, and increased 5% and3% in U.S. dollars and local currency for the six months ended June 30, 2014, compared to the corresponding prior year periods. The decrease in net sales in local currencies of our food retailing products for the three months ended June 30, 2014 is driven by lower project activity in the Americas.

Gross profit

Gross profit as a percentage of net sales was 53.9% and 53.4% for the three months ended June 30, 2014 and 2013, respectively, and 53.5% and 53.3% for the six months ended June 30, 2014 and 2013, respectively.

Gross profit as a percentage of net sales for products was 57.4% and 56.9% for the three months ended June 30, 2014 and 2013, respectively, and 57.3% and 57.0% for the six months ended June 30, 2014 and 2013, respectively.

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Gross profit as a percentage of net sales for services (including spare parts) was 42.1% and 40.9% for the three months ended June 30, 2014 and 2013, respectively, and 41.2% and 40.7% for the six months ended June 30, 2014 and 2013, respectively.

The increase in gross profit as a percentage of net sales for the three and six months ended June 30, 2014, includes increased price realization and reduced material costs, offset in part by unfavorable currency.

Research and development and selling, general and administrative expenses

Research and development expenses as a percentage of net sales was 5.3% for both the three and six months ended June 30, 2014, respectively, compared to 5.0% and 5.1% for the corresponding periods during 2013. Research and development expenses increased 11% and 9% in U.S. dollars and 7% and 5% in local currencies for the three and six months ended June 30, 2014, respectively, compared to the corresponding periods in 2013 relating to the timing of research and development project activity.

Selling, general and administrative expenses as a percentage of net sales were 30.1% and 30.0% for the three months ended June 30, 2014 and 2013, respectively, and were 30.6% and 30.8% for the six months ended June 30, 2014 and 2013, respectively. Selling, general and administrative expenses increased 6% and 5% in U.S. dollars for the three and six months ended June 30, 2014, respectively, and increased 3% in local currencies for both the three and six months ended June 30, 2014, compared to the corresponding periods in 2013. The increase includes higher cash incentive compensation as compared to the prior year, partially offset by lower employee benefit costs.

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

Amortization expense was $7.3 million and $5.8 million for the three months ended June 30, 2014 and 2013, respectively, and $14.4 million and $10.9 million for the six months ended June 30, 2014 and 2013, respectively. The increase in amortization expense is primarily related to recent investment in information technology, including the Company's Blue Ocean program.

Interest expense was $6.0 million and $5.5 million for the three months ended June 30, 2014 and 2013, respectively, and $11.6 million and $10.9 million for the six months ended June 30, 2014 and 2013, respectively. The increase in interest expense for the three and six months periods ended June 30, 2014 is primarily a result of an increase in average borrowings.

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

The provision for taxes is based upon using our projected annual effective tax rate of 24% for the three and six months periods ended June 30, 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.

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U.S. Operations (amounts in thousands)

	Three months ended June 30,						Six months ended June 30,
	2014		2013		%		2014		2013		%
Total net sales	$	214,489	$	203,523	5	%	$	399,259	$	380,286	5	%
Net sales to external customers	$	193,353	$	186,829	3	%	$	357,347	$	345,013	4	%
Segment profit	$	34,723	$	33,339	4	%	$	58,418	$	57,996	1	%

Total net sales increased 5% for both the three and six months ended June 30, 2014 compared with the corresponding periods in 2013. Net sales to external customers increased 3% and 4% for the three and six months ended June 30, 2014, respectively. The increase in total net sales and net sales to external customers for the three months ended June 30, 2014 primarily reflects strong growth in product inspection and most of our laboratory-related products, particularly process analytics and pipettes, due to increased sales volume and favorable price realization, offset in part by reduced project activity in food retailing and transportation and logistics.

Segment profit increased $1.4 million and $0.4 million for the three and six months ended June 30, 2014, respectively, compared to the corresponding periods in 2013. The increase in segment profit for the three months ended June 30, 2014 primarily related to increased sales. Segment profit for the six months ended June 30, 2014 also includes investments in our product inspection business.

Swiss Operations (amounts in thousands)

	Three months ended June 30,						Six months ended June 30,
	2014		2013		%1)		2014		2013		%1)
Total net sales	$	141,905	$	134,685	5	%	$	282,186	$	262,505	7	%
Net sales to external customers	$	33,742	$	31,166	8	%	$	65,798	$	61,863	6	%
Segment profit	$	36,559	$	36,059	1	%	$	72,725	$	70,260	4	%

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

Total net sales increased 5% and 7% in U.S. dollars and were flat and increased 3% in local currency for the three and six months ended June 30, 2014, respectively, compared to the corresponding periods in 2013. Net sales to external customers increased 8% and 6% in U.S. dollars and 3% and 2% in local currency during the three and six months ended June 30, 2014, respectively, compared to the corresponding periods in 2013. The increase in local currency net sales to external customers for the three and six month periods ended June 30, 2014 primarily related to sales volume increases in our laboratory-related products, particularly analytical instruments and laboratory balances, offset in part by a decline in food retailing. The six month period ended June 30, 2014 also includes a volume decrease in core-industrial products.

Segment profit increased $0.5 million and $2.5 million for the three and six month periods ended June 30, 2014, respectively, compared to the corresponding periods in 2013. Segment profit includes the impact of increased sales, partially offset by unfavorable currency and increased cash incentive compensation. Segment profit during the three months ended June 30, 2014 also includes increased research and development activities.

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Western European Operations (amounts in thousands)

	Three months ended June 30,						Six months ended June 30,
	2014		2013		%1)		2014		2013		%1)
Total net sales	$	197,352	$	182,996	8	%	$	388,308	$	357,110	9	%
Net sales to external customers	$	169,917	$	156,515	9	%	$	331,434	$	302,517	10	%
Segment profit	$	23,685	$	23,357	1	%	$	44,561	$	41,655	7	%

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

Total net sales increased 8% and 9% in U.S. dollars and 3% and 4% in local currency for the three and six months ended June 30, 2014, respectively, compared to the corresponding periods in 2013. Net sales to external customers increased 9% and 10% in U.S. dollars and 3% and 5% in local currency for the three and six months ended June 30, 2014, respectively, compared to the corresponding periods in 2013. Total net sales and net sales to external customers for the three and six months ended June 30, 2014 includes volume increases and favorable price realization across most product categories, particularly process analytics and laboratory balances.

Segment profit increased $0.3 million and $2.9 million for the three and six month periods ended June 30, 2014, respectively, compared to the corresponding periods in 2013 primarily due to increased sales, offset in part by increased sales and marketing investments and higher cash incentive expense.

Chinese Operations (amounts in thousands)

	Three months ended June 30,						Six months ended June 30,
	2014		2013		%1)		2014		2013		%1)
Total net sales	$	137,320	$	135,514	1	%	$	264,485	$	256,643	3	%
Net sales to external customers	$	99,922	$	97,771	2	%	$	191,543	$	188,498	2	%
Segment profit	$	31,497	$	29,374	7	%	$	57,296	$	54,022	6	%

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

Total net sales increased 1% in both in U.S. dollars and local currency for the three months ended June 30, 2014 and increased 3% and 2% in U.S. dollars and local currency for the six months ended June 30, 2014 compared to the corresponding periods in 2013. Net sales to external customers increased 2% in U.S. dollars for both three and six months ended June 30, 2014 and increased 1% and were flat in local currency during the three and six months ended June 30, 2014, respectively, as compared to the corresponding periods in 2013. The increase in net sales to external customers during the three months ended June 30, 2014 reflects an increase in sales volume and favorable price realization of our laboratory-related products, particularly laboratory balances, and product inspection, offset in part by a decline in core-industrial products. The exit of certain industrial-related businesses decreased local currency sales 4% and 3% in three and six months ended June 30, 2014, respectively. 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 $2.1 million and $3.3 million for the three and six month periods ended June 30, 2014, respectively, compared to the corresponding periods in 2013. The increase in segment profit for the three and six months ended June 30, 2014 includes increased sales, favorable business mix and increased price realization.

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Other (amounts in thousands)

	Three months ended June 30,						Six months ended June 30,
	2014		2013		%1)		2014		2013		%1)
Total net sales	$	113,847	$	107,908	6	%	$	216,415	$	208,071	4	%
Net sales to external customers	$	111,900	$	106,399	5	%	$	213,333	$	205,142	4	%
Segment profit	$	10,929	$	9,431	16	%	$	20,088	$	18,918	6	%

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

Total net sales increased 6% and 4% in U.S. dollars and 9% in local currencies for both the three and six months ended June 30, 2014, respectively, compared to the corresponding periods in 2013. Net sales to external customers increased 5% and 4% in U.S dollars and 8% in local currencies for both the three and six months ended June 30, 2014, respectively, compared to the corresponding periods in 2013. The increase in total net sales and net sales to external customers for the three and six months ended reflects increased sales volume in most product categories.

Segment profit increased $1.5 million and $1.2 million for the three and six months ended June 30, 2014, respectively, compared to the corresponding periods in 2013. The increase in segment profit includes sales volume growth and favorable price realization, partially offset by unfavorable currency.

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 $151.0 million during the six months ended June 30, 2014, compared to $114.6 million in the corresponding period in 2013. The increase in 2014 is primarily due to the timing of working capital, particularly accounts receivable, offset in part by the timing of tax 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 $37.1 million for the six months ended June 30, 2014 compared to $36.8 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 June 30, 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.

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Senior Notes and Credit Facility Agreement

Our debt consisted of the following at June 30, 2014:

	June 30, 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	201,811			43,553			245,364
Other local arrangements	1,355			19,951			21,306
Total debt	403,166			63,504			466,670
Less: current portion	(101,355		)	(19,951		)	(121,306		)
Total long-term debt	$	301,811		$	43,553		$	345,364

As of June 30, 2014, approximately $550.9 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.

In June 2014, we entered into an agreement to issue and sell $250 million of ten-year Senior Notes in a private placement. We will issue $125 million with a fixed interest rate of 3.84% ("3.84% Senior Notes") in September 2014 and $125 million with a fixed interest rate of 4.24% ("4.24% Senior Notes") in June 2015. The Senior Notes are senior unsecured obligations of the Company.

Interest on the 3.84% Senior Notes is payable semi-annually in March and September of each year, beginning in March 2015. Interest on the 4.24% Senior Notes is payable semi-annually in June and December of each year, beginning in December 2015. We may at any time prepay the Senior Notes, in whole or in part (but in an amount not less than 10% of the original aggregate principal amount), at a price equal to 100% of the principal amount thereof plus accrued and unpaid interest, plus a "make-whole" prepayment premium.

These Senior Notes contain customary affirmative and negative covenants for agreements of this type that are substantially similar to those contained in the previously issued debt of the Company. The Senior Notes also contain customary events of default with customary grace periods, as applicable.

We expect to pay issuance costs approximating $0.9 million which will be amortized to interest expense over the term of the Senior Notes.

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

Share Repurchase Program

We have a $3 billion share repurchase program, of which there were $708.4 million of remaining common shares authorized to be repurchased under the program at June 30, 2014. 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

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purchases will depend on business and market conditions, the stock price, trading restrictions, the level of acquisition activity and other factors.

We have purchased 22.2 million shares since the inception of the program through June 30, 2014. During the six months ended June 30, 2014 and 2013, we spent $184.0 million and $144.8 million on the repurchase of 757,374 shares and 680,934 shares at an average price per share of $242.89 and $212.69, respectively. We also reissued 157,857 shares and 216,176 shares held in treasury for the exercise of stock options and restricted stock units during the six months ended June 30, 2014 and 2013, respectively.

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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 July 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 $1.5 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 June 30, 2014, 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 $7.1 million in the reported U.S. dollar value of the debt.

Recent Accounting Pronouncements

In May 2014, the FASB issued ASU 2014-09, to ASC 606 "Revenue from Contracts with Customers." ASU 2014-09 provides authoritative guidance clarifying the principles for recognizing revenue and developing a common revenue standard for U.S. GAAP. The core principle of the guidance is that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods and services. Additionally, the guidance requires improved disclosure to help users of financial statements better understand the nature, amount, timing and uncertainty of revenue that is recognized. The guidance becomes effective for the Company for the year beginning January 1, 2017. The Company is currently evaluating the impact the adoption of this guidance will have on the consolidated results of operations and financial position and disclosures.

In January 2014, the Company adopted ASU 2013-11 "Income Taxes." The amendment provided further guidance to the balance sheet presentation of unrecognized tax benefit 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.

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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 June 30, 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 the 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 June 30, 2014 that have materially affected, or are reasonably likely to materially affect, our internal control over financial reporting.

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PART II. OTHER INFORMATION

Item 1. Legal Proceedings.None

Item 1A. Risk Factors.

For the six months ended June 30, 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
April 1 to April 30, 2014	106,499	$	232.34	106,499	$	785,133
May 1 to May 31, 2014	146,181	$	239.43	146,181	$	750,130
June 1 to June 30, 2014	168,506	$	247.63	168,506	$	708,400
Total	421,186	$	240.92	421,186	$	708,400

We have a share repurchase program, of which there is $708.4 million remaining to repurchase common shares as of June 30, 2014. We have purchased 22.2 million shares since the inception of the program through June 30, 2014.

During the six months ended June 30, 2014 and 2013, we spent $184.0 million and $144.8 million on the repurchase of 757,374 and 680,934 shares at an average price per share of $242.89 and $212.69, respectively. We also reissued 157,857 shares and 216,176 shares held in treasury for the exercise of stock options and restricted stock units for the six months ended June 30, 2014 and 2013, respectively.

Item 3. Defaults Upon Senior Securities.None

Item 5. Other information.None

Item 6. Exhibits. See Exhibit Index below.

- 32 -

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:	July 25, 2014	By:	/s/ Shawn P. Vadala
			Shawn P. Vadala
			Chief Financial Officer  Principal Accounting Officer

- 33 -

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

- 34 -

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: July 25, 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: July 25, 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: July 25, 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 June 30, 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: July 25, 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

Debt Debt Parathenticals (Details) (USD $) In Thousands, unless otherwise specified	6 Months Ended
	Jun. 30, 2014	Dec. 31, 2013
Debt Instrument [Line Items]
Debt Instrument, Face Amount	$ 250,000
6.30% Senior Notes [Member]
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage	6.30%	6.30%
Debt Instrument, Face Amount	100,000	100,000
Debt Instrument, Maturity Date	Jun. 25, 2015
3.67% Senior Notes [Member]
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage	3.67%	3.67%
Debt Instrument, Face Amount	50,000	50,000
Debt Instrument, Maturity Date	Dec. 17, 2022
4.10% Senior Notes [Member]
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage	4.10%
Debt Instrument, Face Amount	$ 50,000
Debt Instrument, Maturity Date	Sep. 19, 2023

XML

Restructuring Charges Restructuring Charges (textuals) (Details) (USD $) In Thousands, unless otherwise specified	3 Months Ended		6 Months Ended
	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Restructuring Charges [Abstract]
Restructuring Charges	$ 1,905	$ 3,196	$ 3,397	$ 8,198

XML

Net Periodic Benefit Cost (Details) (USD $)	3 Months Ended		6 Months Ended
	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 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	$ 4,189,000	$ 4,434,000	$ 8,416,000	$ 8,982,000
Interest cost on projected benefit obligations	7,178,000	6,362,000	14,320,000	12,785,000
Expected return on plan assets	(11,733,000)	(10,358,000)	(23,414,000)	(20,838,000)
Net amortization and deferral	(1,225,000)	(957,000)	(2,459,000)	(1,930,000)
Recognition of actuarial losses/(gains)	1,942,000	3,521,000	3,888,000	7,066,000
Net periodic pension cost/(credit)	351,000	3,002,000	751,000	6,065,000
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	223,000	123,000	446,000	247,000
Interest cost on projected benefit obligations	1,599,000	1,439,000	3,198,000	2,878,000
Expected return on plan assets	(2,137,000)	(1,788,000)	(4,274,000)	(3,576,000)
Net amortization and deferral	0	0	0	0
Recognition of actuarial losses/(gains)	1,200,000	1,945,000	2,400,000	3,891,000
Net periodic pension cost/(credit)	885,000	1,719,000	1,770,000	3,440,000
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	3,923,000	4,257,000	7,885,000	8,627,000
Interest cost on projected benefit obligations	5,519,000	4,822,000	11,002,000	9,705,000
Expected return on plan assets	(9,596,000)	(8,570,000)	(19,140,000)	(17,262,000)
Net amortization and deferral	(1,030,000)	(979,000)	(2,070,000)	(1,973,000)
Recognition of actuarial losses/(gains)	1,100,000	1,823,000	2,206,000	3,669,000
Net periodic pension cost/(credit)	(84,000)	1,353,000	(117,000)	2,766,000
Net Periodic Benefit Cost (Textuals) [Abstract]
Defined Benefit Plan, Estimated Future Employer Contributions in Current Fiscal Year			21,800,000
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	43,000	54,000	85,000	108,000
Interest cost on projected benefit obligations	60,000	101,000	120,000	202,000
Expected return on plan assets	0	0	0	0
Net amortization and deferral	(195,000)	22,000	(389,000)	43,000
Recognition of actuarial losses/(gains)	(358,000)	(247,000)	(718,000)	(494,000)
Net periodic pension cost/(credit)	(450,000)	(70,000)	(902,000)	(141,000)
Net Periodic Benefit Cost (Textuals) [Abstract]
Defined Benefit Plan, Estimated Future Employer Contributions in Current Fiscal Year			$ 500,000

XML

Summary of Significant Accounting Policies (Details Textuals) (USD $) In Millions, unless otherwise specified	3 Months Ended		6 Months Ended
	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Summary of Significant Accounting Policies (Textuals) [Abstract]
Amortization expense	$ 1.6	$ 1.5	$ 3.2	$ 2.9
Future Amortization Expense Current Year	6.4		6.4
Aggregate amortization expense for 2015	6.0		6.0
Aggregate amortization expense for 2016	5.5		5.5
Aggregate amortization expense for 2017	5.1		5.1
Aggregate amortization expense for 2018	4.9		4.9
Aggregate amortization expense for 2019	4.5		4.5
Purchased Intangible Amortization, Gross	1.4	1.3	2.7	2.7
Purchased intangible amortization, net of tax	1.0	0.9	1.9	1.8
Amortization expense associated with capitalized software	5.6	4.3	11.2	8.0
Standard Warranty Period			one
Share - based compensation expense	$ 3.3	$ 3.0	$ 6.5	$ 5.8

XML

Other Comprehensive Income (Tables)

6 Months Ended

Jun. 30, 2014

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 six months ended June 30, 2014 and 2013:

	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) on cash flow hedging arrangements	—			(854		)	—			(854		)
Foreign currency translation adjustment	(1,286		)	10			8			(1,268		)
Amounts recognized from accumulated other comprehensive income (loss), net of tax	—			788			797			1,585
Net change in other comprehensive income (loss), net of tax	(1,286		)	(56		)	805			(537		)
Balance at June 30, 2014	$	76,629		$	(2,489	)	$	(109,713	)	$	(35,573	)

Disclosure of Reclassification Amount [Text Block]

The following table presents amounts recognized from accumulated other comprehensive income (loss) for the three and six month periods ended June 30:

	Three months ended June 30,
	2014			2013		Location of Amounts Recognized in Earnings
Effective portion of losses on cash flow hedging arrangements:
Interest rate swap agreements	$	778		$	766	Interest expense
Foreign currency forward contracts	(164		)	557		Cost of sales - products
Total before taxes	614			1,323
Provision for taxes	266			409		Provision for taxes
Total, net of taxes	$	348		$	914
Recognition of defined benefit pension and post-retirement items:
Recognition of actuarial losses, plan amendments and prior service cost, before taxes	$	717		$	2,564	(a)
Provision for taxes	316			632		Provision for taxes
Total, net of taxes	$	401		$	1,932

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

Comprehensive income (loss), net of tax consisted of the following as of June 30:

	Three Months Ended					Six Months Ended
	2014			2013		2014			2013
Net earnings	$	74,022		$	69,062	$	132,073		$	121,606
Other comprehensive income (loss), net of tax	(2,391		)	5,835		(537		)	(11,280		)
Comprehensive income, net of tax	$	71,631		$	74,897	$	131,536		$	110,326

XML

Segment Reporting (Details 1) (USD $) In Thousands, unless otherwise specified	3 Months Ended		6 Months Ended
	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Reconciliation of earnings before taxes to segment profit
Earnings before taxes	$ 97,398	$ 90,873	$ 173,782	$ 160,009
Amortization	7,283	5,807	14,377	10,929
Interest expense	5,956	5,543	11,622	10,943
Restructuring Charges	1,905	3,196	3,397	8,198
Other charges (income), net	406	987	723	1,760
Segment Profit Information	$ 112,948	$ 106,406	$ 203,901	$ 191,839

XML

Other Comprehensive Income (Details) (USD $) In Thousands, unless otherwise specified	6 Months Ended
	Jun. 30, 2014	Jun. 30, 2013	Dec. 31, 2013	Dec. 31, 2012
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated Other Comprehensive Income (Loss), Net of Tax	$ (35,573)	$ (108,741)	$ (35,036)	$ (97,461)
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax	(854)	(398)
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment, Net of Tax	(1,268)	(16,525)
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax	1,585	5,643
Other Comprehensive Income (Loss), Net of Tax	(537)	(11,280)
Accumulated Translation Adjustment [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated Other Comprehensive Income (Loss), Net of Tax	76,629	36,619	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	(1,286)	(19,393)
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax	0	0
Other Comprehensive Income (Loss), Net of Tax	(1,286)	(19,393)
Accumulated Net Gain (Loss) from Designated or Qualifying Cash Flow Hedges [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated Other Comprehensive Income (Loss), Net of Tax	(2,489)	(4,084)	(2,433)	(5,438)
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax	(854)	(398)
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment, Net of Tax	10	(4)
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax	788	1,756
Other Comprehensive Income (Loss), Net of Tax	(56)	1,354
Accumulated Defined Benefit Plans Adjustment [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated Other Comprehensive Income (Loss), Net of Tax	(109,713)	(141,276)	(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	8	2,872
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax	797	3,887
Other Comprehensive Income (Loss), Net of Tax	$ 805	$ 6,759

XML

Income Taxes (Details)	3 Months Ended	6 Months Ended
	Jun. 30, 2014	Jun. 30, 2014
Effective Income Tax Rate, Continuing Operations	24.00%	24.00%

XML

Restructuring Charges (Details) (USD $) In Thousands, unless otherwise specified	3 Months Ended		6 Months Ended
	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Company's accrual for restructuring activities:-
Beginning Restructuring Accrual Balance, as of December 31, 2013			$ 13,185
Restructuring Charges	1,905	3,196	3,397	8,198
Restructuring Cash Payments			(5,958)
Impact of foreign currency on restructuring reserve			(77)
Ending Restructuring Accrual Balance, as of June 30, 2014	10,547		10,547
Employee Severance [Member]
Company's accrual for restructuring activities:-
Beginning Restructuring Accrual Balance, as of December 31, 2013			13,054
Restructuring Charges			2,945
Restructuring Cash Payments			(5,488)
Impact of foreign currency on restructuring reserve			(77)
Ending Restructuring Accrual Balance, as of June 30, 2014	10,434		10,434
Other Restructuring Charges [Member]
Company's accrual for restructuring activities:-
Beginning Restructuring Accrual Balance, as of December 31, 2013			131
Restructuring Charges			452
Restructuring Cash Payments			(470)
Impact of foreign currency on restructuring reserve			0
Ending Restructuring Accrual Balance, as of June 30, 2014	$ 113		$ 113

XML

Financial Instruments

6 Months Ended

Jun. 30, 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 certain 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 Hedges

The Company has an interest rate swap agreement, designated as a cash flow hedge. The agreement changes the floating rate LIBOR-based interest payments associated with $100 million in borrowings under the Company’s credit agreement to a fixed obligation of 3.24%. The swap is recorded gross in other non-current liabilities in the consolidated balance sheet at its fair value as of June 30, 2014 and December 31, 2013 of $4.0 million and $5.3 million, respectively. The amount recognized in other comprehensive income (loss) during the three month periods ended June 30, 2014 and 2013 was a loss of $0.1 million before and after tax, and a gain of $0.2 million, $0.1 million after tax, respectively, and during the six month periods ended June 30, 2014 and 2013 the amount recognized was a loss of $0.2 million, $0.1 million after tax, and a gain of $0.2 million, $0.1 million after tax, respectively. 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 month periods ended June 30, 2014 and 2013, and $1.5 million, $1.0 million after tax, and $1.5 million, $0.9 million after tax, for the six month periods ended June 30, 2014 and 2013, respectively. A derivative loss of $3.1 million, $1.9 million after tax, based upon interest rates at June 30, 2014, is expected to be reclassified from other comprehensive income (loss) to earnings in the next twelve months. Through June 30, 2014 no hedge ineffectiveness has occurred in relation to this hedge.

In June 2013, the Company entered into a forward starting interest rate swap agreement, designated as a cash flow hedge. The agreement which 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 liabilities in the consolidated balance sheet at its fair value as of June 30, 2014 of $0.4 million and in other non-current assets in the consolidated balance sheet at its fair value as of December 31, 2013 of $1.3 million. The amount recognized in other comprehensive income (loss) during the three and six months ended June 30, 2014 was a loss of $0.9 million, $0.6 million after tax, and a loss of $1.6 million, $1.0 million after tax, respectively. The amount recognized in other comprehensive income (loss) during the three and six months ended June 30, 2013 was a gain of $0.9 million, $0.6 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 businesses. The notional amount of foreign currency forward contracts outstanding at June 30, 2014 and December 31, 2013 was $77.4 million and $78.2 million, respectively. The foreign currency forward contracts are recorded gross at their fair value in the consolidated balance sheet at June 30, 2014 in other current assets of $0.4 million. At December 31, 2013, the foreign currency forward contracts are recorded gross at their fair value in the consolidated balance sheet in other current assets of $0.3 million and in accrued and other liabilities of $0.1 million. 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 month period ended June 30, 2014 and 2013 was a gain of $0.1 million before and after tax, and a loss of $0.5 million, $0.4 million after tax, respectively, and during the six months ended June 30, 2014 and 2013, was a gain of $0.4 million, $0.3 million after tax, and a loss of $1.3 million, $1.1 million after tax, respectively. The effective portion reclassified from accumulated other comprehensive income (loss) to cost of sales was a gain of $0.2 million, $0.1 million after tax, and a loss of $0.6 million, $0.4 million after tax, during the three months ended June 30, 2014 and 2013 and a gain of $0.2 million before and after tax, and a loss of $1.0 million, $0.8 million after tax, for the six months ended June 30, 2014 and 2013, respectively. A derivative gain of $0.4 million, $0.3 million after tax, based upon foreign currency rates at June 30, 2014, is expected to be reclassified from other comprehensive income (loss) to earnings in the next twelve months. Through June 30, 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 at their fair value in the consolidated balance sheet at June 30, 2014 and December 31, 2013 in other current assets of $0.3 million and $0.7 million, respectively, and in other liabilities of $0.4 million for both periods. The Company recognized in other charges (income), net, a net loss of $0.7 million and a net gain of $1.5 million during the three months ended June 30, 2014 and 2013, respectively, and a net loss of $0.9 million and $0.7 million during the six months ended June 30, 2014 and 2013, respectively. At June 30, 2014 and December 31, 2013, these contracts had a notional value of $189.2 million and $180.3 million, respectively.

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Other Comprehensive Income Details 2 (Details) (USD $) In Thousands, unless otherwise specified	3 Months Ended		6 Months Ended
	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Derivative Instruments, Gain (Loss) Recognized in Other Comprehensive Income (Loss), Effective Portion, Net	$ 614	$ 1,323	$ 1,341	$ 2,553
Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Derivatives Arising During Period, Tax	266	409	553	797
Other Comprehensive Income (Loss), Reclassification Adjustment on Derivatives Included in Net Income, Net of Tax	348	914	788	1,756
Other Comprehensive Income (Loss), Pension and Other Postretirement Benefit Plans, Adjustment, before Tax, Portion Attributable to Parent	717	2,564	1,429	5,136
Other Comprehensive Income (Loss), Pension and Other Postretirement Benefit Plans, Tax, Portion Attributable to Parent	316	632	632	1,249
Other Comprehensive Income (Loss), Pension and Other Postretirement Benefit Plans, Adjustment, Net of Tax	401	1,932	797	3,887
Designated as a Cash Flow Hedging Instrument [Member] | 3.24% $100 Million Interest Rate Swap [Member]
Interest Rate Cash Flow Hedge Gain (Loss) Reclassified to Earnings, Net	778	766	1,546	1,522
Designated as a Cash Flow Hedging Instrument [Member] | Foreign Exchange Forward [Member]
Foreign Currency Cash Flow Hedge Gain (Loss) Reclassified to Earnings, Net	$ (164)	$ 557	$ (205)	$ 1,031

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Segment Reporting (Tables)

6 Months Ended

Jun. 30, 2014

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									As of June 30,
For the three months ended	External		Other			Total Net			Segment			2014
June 30, 2014	Customers		Segments			Sales			Profit			Goodwill
U.S. Operations	$	193,353	$	21,136		$	214,489		$	34,723		$	307,975
Swiss Operations	33,742		108,163			141,905			36,559			24,229
Western European Operations	169,917		27,435			197,352			23,685			109,921
Chinese Operations	99,922		37,398			137,320			31,497			738
Other (a)	111,900		1,947			113,847			10,929			14,896
Eliminations and Corporate (b)	—		(196,079		)	(196,079		)	(24,445		)	—
Total	$	608,834	$	—		$	608,834		$	112,948		$	457,759

	Net Sales to		Net Sales to
For the six months ended	External		Other			Total Net			Segment
June 30, 2014	Customers		Segments			Sales			Profit
U.S. Operations	$	357,347	$	41,912		$	399,259		$	58,418
Swiss Operations	65,798		216,388			282,186			72,725
Western European Operations	331,434		56,874			388,308			44,561
Chinese Operations	191,543		72,942			264,485			57,296
Other (a)	213,333		3,082			216,415			20,088
Eliminations and Corporate (b)	—		(391,198		)	(391,198		)	(49,187		)
Total	$	1,159,455	$	—		$	1,159,455		$	203,901

	Net Sales to		Net Sales to									As of June 30,
For the three months ended	External		Other			Total Net			Segment			2013
June 30, 2013	Customers		Segments			Sales			Profit			Goodwill
U.S. Operations	$	186,829	$	16,694		$	203,523		$	33,339		$	307,933
Swiss Operations	31,166		103,519			134,685			36,059			22,966
Western European Operations	156,515		26,481			182,996			23,357			102,114
Chinese Operations	97,771		37,743			135,514			29,374			733
Other (a)	106,399		1,509			107,908			9,431			13,420
Eliminations and Corporate (b)	—		(185,946		)	(185,946		)	(25,154		)	—
Total	$	578,680	$	—		$	578,680		$	106,406		$	447,166

(a) Other includes reporting units in Eastern Europe, Latin America, Southeast Asia and other countries.

(b) Eliminations and Corporate includes the elimination of inter-segment transactions and certain corporate expenses and intercompany investments, which are not included in the Company’s operating segments.

	Net Sales to		Net Sales to
For the six months ended	External		Other			Total Net			Segment
June 30, 2013	Customers		Segments			Sales			Profit
U.S. Operations	$	345,013	$	35,273		$	380,286		$	57,996
Swiss Operations	61,863		200,642			262,505			70,260
Western European Operations	302,517		54,593			357,110			41,655
Chinese Operations	188,498		68,145			256,643			54,022
Other (a)	205,142		2,929			208,071			18,918
Eliminations and Corporate (b)	—		(361,582		)	(361,582		)	(51,012		)
Total	$	1,103,033	$	—		$	1,103,033		$	191,839

(a) Other includes reporting units in Eastern Europe, Latin America, Southeast Asia and other countries.

(b) Eliminations and Corporate includes the elimination of inter-segment transactions and certain corporate expenses and intercompany investments, which are not included in the Company’s operating segments.

Reconciliation of earnings before taxes to segment profit

A reconciliation of earnings before taxes to segment profit for the three and six month periods ended June 30 follows:

	Three Months Ended				Six Months Ended
	2014		2013		2014		2013
Earnings before taxes	$	97,398	$	90,873	$	173,782	$	160,009
Amortization	7,283		5,807		14,377		10,929
Interest expense	5,956		5,543		11,622		10,943
Restructuring charges	1,905		3,196		3,397		8,198
Other charges (income), net	406		987		723		1,760
Segment profit	$	112,948	$	106,406	$	203,901	$	191,839

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Restructuring Charges (Tables)

6 Months Ended

Jun. 30, 2014

Restructuring Cost and Reserve [Line Items]

Company's accrual for restructuring activities

A rollforward of the Company’s accrual for restructuring activities for the six months ended June 30, 2014 is as follows:

	Employee Related			Other			Total
Balance at December 31, 2013	$	13,054		$	131		$	13,185
Restructuring charges	2,945			452			3,397
Cash payments and utilization	(5,488		)	(470		)	(5,958		)
Impact of foreign currency	(77		)	—			(77		)
Balance at June 30, 2014	$	10,434		$	113		$	10,547

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Other Comprehensive Income Details 3 (Details) (USD $) In Thousands, unless otherwise specified	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013	Dec. 31, 2013
Net earnings	$ 74,022	$ 69,062	$ 132,073	$ 121,606	$ 306,094
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent	(2,391)	5,835	(537)	(11,280)	62,425
Comprehensive Income, Net of Tax (Note 8)	$ 71,631	$ 74,897	$ 131,536	$ 110,326

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Summary of Significant Accounting Policies (Details) (USD $) In Thousands, unless otherwise specified	Jun. 30, 2014	Dec. 31, 2013
Components of inventory
Raw materials and parts	$ 101,373	$ 98,244
Work-in-progress	41,242	38,061
Finished goods	81,833	74,109
Total Inventory, Net	$ 224,448	$ 210,414

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Summary of Significant Accounting Policies (Details 1) (USD $) In Thousands, unless otherwise specified	Jun. 30, 2014	Dec. 31, 2013
Intangible Assets [Line Items]
Intangible Assets, Gross (Excluding Goodwill)	$ 174,507	$ 171,772
Accumulated Amortization	(60,250)	(57,354)
Intangible Assets, Net (Excluding Goodwill)	114,257	114,418
Tradename (indefinite life) [Member]
Intangible Assets [Line Items]
Gross amount, Tradename (indefinite life)	25,105	25,108
Intangible Assets, Net (Excluding Goodwill)	25,105	25,108
Customer Relationships [Member]
Intangible Assets [Line Items]
Gross amount	100,342	98,374
Accumulated Amortization	(27,009)	(25,313)
Intangible Assets, Net (Excluding Goodwill)	73,333	73,061
Proven technology and patents [Member]
Intangible Assets [Line Items]
Gross amount	43,086	43,233
Accumulated Amortization	(30,554)	(29,763)
Intangible Assets, Net (Excluding Goodwill)	12,532	13,470
Tradename (finite life) [Member]
Intangible Assets [Line Items]
Gross amount	4,375	4,300
Accumulated Amortization	(1,832)	(1,619)
Intangible Assets, Net (Excluding Goodwill)	2,543	2,681
Other Intangible Assets [Member]
Intangible Assets [Line Items]
Gross amount	1,599	757
Accumulated Amortization	(855)	(659)
Intangible Assets, Net (Excluding Goodwill)	$ 744	$ 98

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Summary of Significant Accounting Policies

6 Months Ended

Jun. 30, 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:

	June 30, 2014		December 31, 2013
Raw materials and parts	$	101,373	$	98,244
Work-in-progress	41,242		38,061
Finished goods	81,833		74,109
	$	224,448	$	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 and indefinite-lived intangible assets are generally based on an assessment of qualitative and quantitative factors to determine whether it is more likely than not that the fair value of the asset is less than its carrying amount.

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 of benefit. 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 "Intangible - Goodwill and Other" and ASC 360 "Property, Plant and Equipment."

Other intangible assets consisted of the following:

	June 30, 2014							December 31, 2013
	Gross Amount		Accumulated Amortization			Intangibles, Net		Gross Amount		Accumulated Amortization			Intangibles, Net
Customer relationships	$	100,342	$	(27,009	)	$	73,333	$	98,374	$	(25,313	)	$	73,061
Proven technology and patents	43,086		(30,554		)	12,532		43,233		(29,763		)	13,470
Tradename (finite life)	4,375		(1,832		)	2,543		4,300		(1,619		)	2,681
Tradename (indefinite life)	25,105		—			25,105		25,108		—			25,108
Other	1,599		(855		)	744		757		(659		)	98
	$	174,507	$	(60,250	)	$	114,257	$	171,772	$	(57,354	)	$	114,418

The Company recognized amortization expense associated with the above intangible assets of $1.6 million and $1.5 million for the three months ended June 30, 2014 and 2013, respectively and $3.2 million and $2.9 million for the six months ended June 30, 2014 and 2013, respectively. The annual aggregate amortization expense based on the current balance of other intangible assets is estimated at $6.4 million for 2014, $6.0 million for 2015, $5.5 million for 2016, $5.1 million for 2017, $4.9 million for 2018 and $4.5 million for 2019. Purchased intangible amortization was $1.4 million, $1.0 million after tax, and $1.3 million, $0.9 million after tax, for the three months ended June 30, 2014 and 2013, respectively and $2.7 million, $1.9 million after tax, and $2.7 million, $1.8 million after tax, for the six months ended June 30, 2014 and 2013, respectively.

In addition to the above amortization, the Company recorded amortization expense associated with capitalized software of $5.6 million and $4.3 million for the three months ended June 30, 2014 and 2013, respectively and $11.2 million and $8.0 million for the six months ended June 30, 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 six months ended June 30 are as follows:

	June 30, 2014			June 30, 2013
Balance at beginning of period	$	16,991		$	16,295
Accruals for warranties	9,427			9,467
Foreign currency translation	(3		)	(185		)
Payments / utilizations	(9,914		)	(9,815		)
Balance at end of period	$	16,501		$	15,762

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 statement of operations with a corresponding offset to additional paid-in capital in the consolidated balance sheet. The Company recorded $3.3 million and $6.5 million of share-based compensation expense for the three and six months ended June 30, 2014, respectively, compared to $3.0 million and $5.8 million for the corresponding periods in 2013.

Research and Development

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

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Summary of Significant Accounting Policies (Details 2) (USD $) In Thousands, unless otherwise specified	6 Months Ended
	Jun. 30, 2014	Jun. 30, 2013
Changes to the Company's accrual for product warranties
Warranty Accrual, Balance at beginning of period	$ 16,991	$ 16,295
Accruals for warranties	9,427	9,467
Foreign currency translation	(3)	(185)
Payments / utilizations	(9,914)	(9,815)
Warranty Accrual, Balance at end of period	$ 16,501	$ 15,762

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Debt (Details Textuals) (USD $)	6 Months Ended
	Jun. 30, 2014
Debt Instrument [Line Items]
Line of Credit Facility, Remaining Borrowing Capacity	$ 550,900,000
Debt Instrument, Face Amount	250,000,000
Minimum Prepayment Percent	10.00%
3.84% Senior Notes [Member]
Debt Instrument [Line Items]
Debt Instrument, Face Amount	125,000,000
Debt Instrument, Interest Rate, Stated Percentage	3.84%
Debt Instrument, Maturity Date	Sep. 19, 2024
4.24% Senior Notes [Member]
Debt Instrument [Line Items]
Debt Instrument, Face Amount	$ 125,000,000
Debt Instrument, Interest Rate, Stated Percentage	4.24%
Debt Instrument, Maturity Date	Jun. 25, 2025

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Interim Consolidated Statements of Operations (Unaudited) (USD $) In Thousands, except Share data, unless otherwise specified	3 Months Ended		6 Months Ended
	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Net sales
Products	$ 468,678	$ 450,128	$ 890,826	$ 852,466
Service	140,156	128,552	268,629	250,567
Total net sales	608,834	578,680	1,159,455	1,103,033
Cost of sales
Products	199,458	193,839	380,656	366,428
Service	81,200	75,998	157,982	148,604
Gross profit	328,176	308,843	620,817	588,001
Research and development	32,125	29,003	61,622	56,703
Selling, general and administrative	183,103	173,434	355,294	339,459
Amortization	7,283	5,807	14,377	10,929
Interest expense	5,956	5,543	11,622	10,943
Restructuring Charges	1,905	3,196	3,397	8,198
Other charges (income), net	406	987	723	1,760
Earnings before taxes	97,398	90,873	173,782	160,009
Provision for taxes	23,376	21,811	41,709	38,403
Net earnings	74,022	69,062	132,073	121,606
Basic earnings per common share:
Net earnings	$ 2.55	$ 2.29	$ 4.52	$ 4.03
Weighted average number of common shares	29,074,695	30,119,889	29,221,647	30,209,729
Diluted earnings per common share:
Net earnings	$ 2.49	$ 2.24	$ 4.41	$ 3.93
Weighted average number of common and common equivalent shares	29,750,815	30,849,934	29,918,456	30,975,957
Comprehensive Income, Net of Tax (Note 8)	$ 71,631	$ 74,897	$ 131,536	$ 110,326

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Earnings Per Common Share (Details)	3 Months Ended		6 Months Ended
	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Incremental Weighted Average Shares Attributable to Dilutive Effect [Abstract]
Weighted Average Number of Shares Outstanding, Diluted, Total	676,120	730,045	696,809	766,228
Antidilutive Shares Outstanding
Weighted Average Number of Shares Outstanding, Antidilutive, Total	158,484	141,650	158,548	141,636

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Interim Consolidated Statements of Cash Flows (Unaudited) (USD $) In Thousands, unless otherwise specified	6 Months Ended
	Jun. 30, 2014	Jun. 30, 2013
Cash flows from operating activities:
Net earnings	$ 132,073	$ 121,606
Adjustments to reconcile net earnings to net cash provided by operating activities:
Depreciation	16,874	17,447
Amortization	14,377	10,929
Deferred tax benefit	(3,442)	(5,687)
Excess tax benefits from share-based payment arrangements	(9,569)	(519)
Share-based compensation	6,503	5,852
Other	74	408
Increase (decrease) in cash resulting from changes in:
Trade accounts receivable, net	39,967	12,583
Inventories	(13,733)	(8,158)
Other current assets	1,990	(5,690)
Trade accounts payable	(5,458)	(19,806)
Taxes payable	(19,250)	(2,820)
Accruals and other	(9,429)	(11,513)
Net cash provided by operating activities	150,977	114,632
Cash flows from investing activities:
Proceeds from sale of property, plant and equipment	296	115
Purchase of property, plant and equipment	(37,120)	(36,781)
Acquisitions	(3,255)	(213)
Net cash used in investing activities	(40,079)	(36,879)
Cash flows from financing activities:
Proceeds from borrowings	310,018	211,112
Repayments of borrowings	(256,611)	(136,330)
Proceeds from stock option exercises	9,032	12,549
Repurchases of common stock	(183,978)	(144,844)
Excess tax benefits from share - based payment arrangements	9,569	519
Other financing activities	(81)	(1,170)
Net cash used in financing activities	(112,051)	(58,164)
Effect of exchange rate changes on cash and cash equivalents	291	(1,074)
Net (decrease) increase in cash and cash equivalents	(862)	18,515
Cash and cash equivalents:
Beginning of period	111,874	101,702
End of period	$ 111,012	$ 120,217

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Fair Value Measurements (Details) (USD $) In Thousands, unless otherwise specified	Jun. 30, 2014	Dec. 31, 2013
Assets:
Cash Equivalents	$ 12,805	$ 16,868
Fair Value, Measurements, Recurring [Member]
Assets:
Cash Equivalents	12,805	16,868
Interest Rate Cash Flow Hedge Asset at Fair Value	0	1,269
Foreign Currency Cash Flow Hedge Asset at Fair Value	361	268
Foreign Currency Derivative Instruments Not Designated As Hedging Instruments Asset At Fair Value	284	719
Total Assets at Fair Value	13,450	19,124
Liabilities:
Interest Rate Cash Flow Hedge Liability at Fair Value	4,379	5,312
Foreign Currency Cash Flow Hedge Liability at Fair Value	7	103
Foreign Currency Derivative Instruments Not Designated As Hedging Instruments Liability At Fair Value	377	355
Total Liabilities at Fair Value	4,763	5,770
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member]
Assets:
Cash Equivalents	0	0
Interest Rate Cash Flow 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	12,805	16,868
Interest Rate Cash Flow Hedge Asset at Fair Value	0	1,269
Foreign Currency Cash Flow Hedge Asset at Fair Value	361	268
Foreign Currency Derivative Instruments Not Designated As Hedging Instruments Asset At Fair Value	284	719
Total Assets at Fair Value	13,450	19,124
Liabilities:
Interest Rate Cash Flow Hedge Liability at Fair Value	4,379	5,312
Foreign Currency Cash Flow Hedge Liability at Fair Value	7	103
Foreign Currency Derivative Instruments Not Designated As Hedging Instruments Liability At Fair Value	377	355
Total Liabilities at Fair Value	4,763	5,770
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member]
Assets:
Cash Equivalents	0	0
Interest Rate Cash Flow 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

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Summary of Significant Accounting Policies (Tables)

6 Months Ended

Jun. 30, 2014

Accounting Policies [Abstract]

Components of inventories

Inventories consisted of the following:

	June 30, 2014		December 31, 2013
Raw materials and parts	$	101,373	$	98,244
Work-in-progress	41,242		38,061
Finished goods	81,833		74,109
	$	224,448	$	210,414

Components of other intangible assets

Other intangible assets consisted of the following:

	June 30, 2014							December 31, 2013
	Gross Amount		Accumulated Amortization			Intangibles, Net		Gross Amount		Accumulated Amortization			Intangibles, Net
Customer relationships	$	100,342	$	(27,009	)	$	73,333	$	98,374	$	(25,313	)	$	73,061
Proven technology and patents	43,086		(30,554		)	12,532		43,233		(29,763		)	13,470
Tradename (finite life)	4,375		(1,832		)	2,543		4,300		(1,619		)	2,681
Tradename (indefinite life)	25,105		—			25,105		25,108		—			25,108
Other	1,599		(855		)	744		757		(659		)	98
	$	174,507	$	(60,250	)	$	114,257	$	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 six months ended June 30 are as follows:

	June 30, 2014			June 30, 2013
Balance at beginning of period	$	16,991		$	16,295
Accruals for warranties	9,427			9,467
Foreign currency translation	(3		)	(185		)
Payments / utilizations	(9,914		)	(9,815		)
Balance at end of period	$	16,501		$	15,762

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Fair Value Measurements (Details Textuals) (USD $) In Thousands, unless otherwise specified	Jun. 30, 2014	Dec. 31, 2013
Derivative Asset, Fair Value, Gross Asset	$ 645	$ 2,256
Derivative Liability, Fair Value, Gross Liability	4,763	5,770
Cash Equivalents	12,805	16,868
Fair Value, Measurements, Recurring [Member]
Cash Equivalents	$ 12,805	$ 16,868

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Debt (Tables)

6 Months Ended

Jun. 30, 2014

Debt Disclosure [Abstract]

Debt

Debt consisted of the following at June 30, 2014:

	June 30, 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	201,811			43,553			245,364
Other local arrangements	1,355			19,951			21,306
Total debt	403,166			63,504			466,670
Less: current portion	(101,355		)	(19,951		)	(121,306		)
Total long-term debt	$	301,811		$	43,553		$	345,364

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Basis of Presentation

6 Months Ended

Jun. 30, 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 June 30, 2014 and for the three and six month periods ended June 30, 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 and six months ended June 30, 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 presentation.

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Interim Consolidated Balance Sheets (Unaudited) (USD $) In Thousands, unless otherwise specified	Jun. 30, 2014	Dec. 31, 2013
Current assets:
Cash and cash equivalents	$ 111,012	$ 111,874
Trade accounts receivable, less allowances of $15,925 at June 30, 2014 and $14,856 at December 31, 2013	427,495	466,703
Inventories	224,448	210,414
Current deferred tax assets, net	59,027	57,934
Other current assets and prepaid expenses	64,406	67,062
Total current assets	886,388	913,987
Property, plant and equipment, net	521,884	514,438
Goodwill	457,759	455,842
Other intangible assets, net	114,257	114,418
Non-current deferred tax assets, net	22,093	24,121
Other non-current assets	141,039	130,013
Total assets	2,143,420	2,152,819
Current liabilities:
Trade accounts payable	140,105	145,993
Accrued and other liabilities	117,763	116,831
Accrued compensation and related items	104,969	123,493
Deferred revenue and customer prepayments	97,782	83,083
Taxes payable	42,260	61,502
Current deferred tax liabilities	16,196	16,219
Short-term borrowings and current maturities of long-term debt	121,306	17,067
Total current liabilities	640,381	564,188
Long-term debt	345,364	395,960
Non-current deferred tax liabilities	61,740	64,449
Other non-current liabilities	188,221	193,170
Total liabilities	1,235,706	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 28,887,558 and 29,487,075 shares at June 30, 2014 and December 31, 2013, respectively	448	448
Additional paid-in capital	669,322	653,250
Treasury stock at cost (15,898,453 shares at June 30, 2014 and 15,298,936 shares at December 31, 2013)	(1,888,911)	(1,721,030)
Retained earnings	2,162,428	2,037,420
Accumulated Other Comprehensive Income (Loss), Net of Tax	(35,573)	(35,036)
Total shareholders' equity	907,714	935,052
Total liabilities and shareholders' equity	$ 2,143,420	$ 2,152,819

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Restructuring Charges

6 Months Ended

Jun. 30, 2014

Restructuring and Related Activities [Abstract]

RESTRUCTURING CHARGES

RESTRUCTURING CHARGES

For the three and six months ended June 30, 2014, we have incurred $1.9 million and $3.4 million, respectively of restructuring expenses which primarily comprised employee-related costs. 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 six months ended June 30, 2014 is as follows:

	Employee Related			Other			Total
Balance at December 31, 2013	$	13,054		$	131		$	13,185
Restructuring charges	2,945			452			3,397
Cash payments and utilization	(5,488		)	(470		)	(5,958		)
Impact of foreign currency	(77		)	—			(77		)
Balance at June 30, 2014	$	10,434		$	113		$	10,547

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Document and Entity Information Document (USD $)	6 Months Ended
	Jun. 30, 2014
Document and Entity Information [Abstract]
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	Jun. 30, 2014
Document Fiscal Year Focus	2014
Document Fiscal Period Focus	Q2
Amendment Flag	false
Entity Common Stock, Shares Outstanding	28,887,558
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Public Float	$ 7,313,751,934

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Other Charges (Income), Net

6 Months Ended

Jun. 30, 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.

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Balance Sheet Parentheticals (Parentheticals) (USD $) In Thousands, except Share data, unless otherwise specified	Jun. 30, 2014	Dec. 31, 2013
Allowance for Doubtful Accounts Receivable, Current	$ 15,925	$ 14,856
Preferred Stock, Par or Stated Value Per Share	$ 0.01	$ 0.01
Preferred Stock, Shares Authorized	10,000,000	10,000,000
Common Stock, Par or Stated Value Per Share	$ 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	28,887,558	29,487,075
Treasury Stock, Shares	15,898,453	152,989,396

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Debt

6 Months Ended

Jun. 30, 2014

Debt Disclosure [Abstract]

DEBT

DEBT

Debt consisted of the following at June 30, 2014:

	June 30, 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	201,811			43,553			245,364
Other local arrangements	1,355			19,951			21,306
Total debt	403,166			63,504			466,670
Less: current portion	(101,355		)	(19,951		)	(121,306		)
Total long-term debt	$	301,811		$	43,553		$	345,364

As of June 30, 2014, the Company had $550.9 million of availability remaining under the credit agreement. The Company was in compliance with its covenants at June 30, 2014.

In June 2014, the Company entered into an agreement to issue and sell $250 million of ten-year Senior Notes in a private placement. The Company will issue $125 million with a fixed interest rate of 3.84% ("3.84% Senior Notes") in September 2014 and $125 million with a fixed interest rate of 4.24% ("4.24% Senior Notes") in June 2015. The Senior Notes are senior unsecured obligations of the Company.

Interest on the 3.84% Senior Notes is payable semi-annually in March and September of each year, beginning in March 2015. Interest on the 4.24% Senior Notes is payable semi-annually in June and December of each year, beginning in December 2015. The Company may at any time prepay the Senior Notes, in whole or in part (but in an amount not less than 10% of the original aggregate principal amount), at a price equal to 100% of the principal amount thereof plus accrued and unpaid interest, plus a "make-whole" prepayment premium.

The Senior Notes contain customary affirmative and negative covenants for agreements of this type that are substantially similar to those contained in the previously issued debt of the Company. The Senior Notes also contain customary events of default with customary grace periods, as applicable.

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Income Taxes

6 Months Ended

Jun. 30, 2014

Income Tax Disclosure [Abstract]

INCOME TAXES

INCOME TAXES

The provision for taxes for both the three and six month periods ended June 30, 2014 is based upon the Company’s projected annual effective rate of 24%.

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Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 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 June 30, 2014 and December 31, 2013:

	June 30, 2014								December 31, 2013
	Total		Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3
Assets:
Cash equivalents	$	12,805	$	—	$	12,805	$	—	$	16,868	$	—	$	16,868	$	—
Interest rate swap agreement	—		—		—		—		1,269		—		1,269		—
Foreign currency forwards contracts designed as cash flow hedges	361		—		361		—		268		—		268		—
Foreign currency forward contracts not designated as hedging instruments	284		—		284		—		719		—		719		—
Total	$	13,450	$	—	$	13,450	$	—	$	19,124	$	—	$	19,124	$	—
Liabilities:
Interest rate swap agreement	$	4,379	$	—	$	4,379	$	—	$	5,312	$	—	$	5,312	$	—
Foreign currency forwards contracts designed as cash flow hedges	7		—		7		—		103		—		103		—
Foreign currency forward contracts not designated as hedging instruments	377		—		377		—		355		—		355		—
Total	$	4,763	$	—	$	4,763	$	—	$	5,770	$	—	$	5,770	$	—

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Segment Reporting

6 Months Ended

Jun. 30, 2014

Segment Reporting [Abstract]

SEGMENT REPORTING

SEGMENT REPORTING

As disclosed in Note 18 to the Company's consolidated financial statements for the year ended 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									As of June 30,
For the three months ended	External		Other			Total Net			Segment			2014
June 30, 2014	Customers		Segments			Sales			Profit			Goodwill
U.S. Operations	$	193,353	$	21,136		$	214,489		$	34,723		$	307,975
Swiss Operations	33,742		108,163			141,905			36,559			24,229
Western European Operations	169,917		27,435			197,352			23,685			109,921
Chinese Operations	99,922		37,398			137,320			31,497			738
Other (a)	111,900		1,947			113,847			10,929			14,896
Eliminations and Corporate (b)	—		(196,079		)	(196,079		)	(24,445		)	—
Total	$	608,834	$	—		$	608,834		$	112,948		$	457,759

	Net Sales to		Net Sales to
For the six months ended	External		Other			Total Net			Segment
June 30, 2014	Customers		Segments			Sales			Profit
U.S. Operations	$	357,347	$	41,912		$	399,259		$	58,418
Swiss Operations	65,798		216,388			282,186			72,725
Western European Operations	331,434		56,874			388,308			44,561
Chinese Operations	191,543		72,942			264,485			57,296
Other (a)	213,333		3,082			216,415			20,088
Eliminations and Corporate (b)	—		(391,198		)	(391,198		)	(49,187		)
Total	$	1,159,455	$	—		$	1,159,455		$	203,901

	Net Sales to		Net Sales to									As of June 30,
For the three months ended	External		Other			Total Net			Segment			2013
June 30, 2013	Customers		Segments			Sales			Profit			Goodwill
U.S. Operations	$	186,829	$	16,694		$	203,523		$	33,339		$	307,933
Swiss Operations	31,166		103,519			134,685			36,059			22,966
Western European Operations	156,515		26,481			182,996			23,357			102,114
Chinese Operations	97,771		37,743			135,514			29,374			733
Other (a)	106,399		1,509			107,908			9,431			13,420
Eliminations and Corporate (b)	—		(185,946		)	(185,946		)	(25,154		)	—
Total	$	578,680	$	—		$	578,680		$	106,406		$	447,166

(a) Other includes reporting units in Eastern Europe, Latin America, Southeast Asia and other countries.

(b) Eliminations and Corporate includes the elimination of inter-segment transactions and certain corporate expenses and intercompany investments, which are not included in the Company’s operating segments.

	Net Sales to		Net Sales to
For the six months ended	External		Other			Total Net			Segment
June 30, 2013	Customers		Segments			Sales			Profit
U.S. Operations	$	345,013	$	35,273		$	380,286		$	57,996
Swiss Operations	61,863		200,642			262,505			70,260
Western European Operations	302,517		54,593			357,110			41,655
Chinese Operations	188,498		68,145			256,643			54,022
Other (a)	205,142		2,929			208,071			18,918
Eliminations and Corporate (b)	—		(361,582		)	(361,582		)	(51,012		)
Total	$	1,103,033	$	—		$	1,103,033		$	191,839

(a) Other includes reporting units in Eastern Europe, Latin America, Southeast Asia and other countries.

(b) Eliminations and Corporate includes the elimination of inter-segment transactions and certain corporate expenses and intercompany investments, which are not included in the Company’s operating segments.

A reconciliation of earnings before taxes to segment profit for the three and six month periods ended June 30 follows:

	Three Months Ended				Six Months Ended
	2014		2013		2014		2013
Earnings before taxes	$	97,398	$	90,873	$	173,782	$	160,009
Amortization	7,283		5,807		14,377		10,929
Interest expense	5,956		5,543		11,622		10,943
Restructuring charges	1,905		3,196		3,397		8,198
Other charges (income), net	406		987		723		1,760
Segment profit	$	112,948	$	106,406	$	203,901	$	191,839

During the three months ended June 30, 2014, restructuring charges of $1.9 million were recognized, of which $1.0 million, $0.3 million, $0.5 million, and $0.1 million related to the Company’s U.S., Swiss, Western European, and Chinese Operations, respectively. Restructuring charges of $3.2 million were recognized during the three months ended June 30, 2013, of which $0.2 million, $2.4 million, $0.6 million, and $0.1 million related to the Company’s U.S., Swiss, Western European, and Chinese Operations, respectively. Restructuring charges of $3.4 million were recognized during the six months ended June 30, 2014, of which $1.6 million, $0.6 million, $0.6 million, $0.3 million, and $0.3 million related to the Company’s U.S., Swiss, Western European, Chinese, and Other Operations, respectively. Restructuring charges of $8.2 million were recognized during the six months ended June 30, 2013, of which $0.6 million, $5.2 million, $1.3 million, $0.8 million and $0.2 million related to the Company’s U.S., Swiss, Western European, Chinese and Other Operations, respectively.

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Earnings Per Common Share

6 Months Ended

Jun. 30, 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 and six month periods endedJune 30, solely relating to outstanding stock options and restricted stock units:

	2014	2013
Three months ended	676,120	730,045
Six months ended	696,809	766,228

Outstanding options and restricted stock units to purchase or receive 158,484 and 141,650 shares of common stock for the three month periods ended June 30, 2014 and 2013, respectively, and options and restricted stock units to purchase or receive 158,548 and 141,636 shares of common stock for the six month periods ended June 30, 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.

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Share Repurchase Program and Treasury Stock

6 Months Ended

Jun. 30, 2014

Equity [Abstract]

SHARE REPURCHASE PROGRAM AND TREASURY STOCK

SHARE REPURCHASE PROGRAM AND TREASURY STOCK

The Company has a $3 billion share repurchase program, of which there were $708.4 million of remaining common shares authorized to be repurchased under the program at June 30, 2014. 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 22.2 million shares since the inception of the program through June 30, 2014. During the six months ended June 30, 2014 and 2013, the Company spent $184.0 million and $144.8 million on the repurchase of 757,374 shares and 680,934 shares at an average price per share of $242.89 and $212.69, respectively. The Company also reissued 157,857 shares and 216,176 shares held in treasury for the exercise of stock options and restricted stock units during the six months ended June 30, 2014 and 2013, respectively.

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Other Comprehensive Income (Notes)

6 Months Ended

Jun. 30, 2014

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 six months ended June 30, 2014 and 2013:

	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) on cash flow hedging arrangements	—			(854		)	—			(854		)
Foreign currency translation adjustment	(1,286		)	10			8			(1,268		)
Amounts recognized from accumulated other comprehensive income (loss), net of tax	—			788			797			1,585
Net change in other comprehensive income (loss), net of tax	(1,286		)	(56		)	805			(537		)
Balance at June 30, 2014	$	76,629		$	(2,489	)	$	(109,713	)	$	(35,573	)

	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) on cash flow hedging arrangements	—			(398		)	—			(398		)
Foreign currency translation adjustment	(19,393		)	(4		)	2,872			(16,525		)
Amounts recognized from accumulated other comprehensive income (loss), net of tax	—			1,756			3,887			5,643
Net change in other comprehensive income (loss), net of tax	(19,393		)	1,354			6,759			(11,280		)
Balance at June 30, 2013	$	36,619		$	(4,084	)	$	(141,276	)	$	(108,741	)

The following table presents amounts recognized from accumulated other comprehensive income (loss) for the three and six month periods ended June 30:

	Three months ended June 30,
	2014			2013		Location of Amounts Recognized in Earnings
Effective portion of losses on cash flow hedging arrangements:
Interest rate swap agreements	$	778		$	766	Interest expense
Foreign currency forward contracts	(164		)	557		Cost of sales - products
Total before taxes	614			1,323
Provision for taxes	266			409		Provision for taxes
Total, net of taxes	$	348		$	914
Recognition of defined benefit pension and post-retirement items:
Recognition of actuarial losses, plan amendments and prior service cost, before taxes	$	717		$	2,564	(a)
Provision for taxes	316			632		Provision for taxes
Total, net of taxes	$	401		$	1,932

	Six months ended June 30,
	2014			2013		Location of Amounts Recognized in Earnings
Effective portion of losses on cash flow hedging arrangements:
Interest rate swap agreements	$	1,546		$	1,522	Interest expense
Foreign currency forward contracts	(205		)	1,031		Cost of sales - products
Total before taxes	1,341			2,553
Provision for taxes	553			797		Provision for taxes
Total, net of taxes	$	788		$	1,756
Recognition of defined benefit pension and post-retirement items:
Recognition of actuarial losses, plan amendments and prior service cost, before taxes	$	1,429		$	5,136	(a)
Provision for taxes	632			1,249		Provision for taxes
Total, net of taxes	$	797		$	3,887

(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 and six months ended June 30, 2014 and 2013.

Comprehensive income (loss), net of tax consisted of the following as of June 30:

	Three Months Ended					Six Months Ended
	2014			2013		2014			2013
Net earnings	$	74,022		$	69,062	$	132,073		$	121,606
Other comprehensive income (loss), net of tax	(2,391		)	5,835		(537		)	(11,280		)
Comprehensive income, net of tax	$	71,631		$	74,897	$	131,536		$	110,326

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Net Periodic Benefit Cost

6 Months Ended

Jun. 30, 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 June 30:

	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		$	3,923		$	4,257		$	43		$	54		$	4,189		$	4,434
Interest cost on projected benefit obligations	1,599			1,439			5,519			4,822			60			101			7,178			6,362
Expected return on plan assets	(2,137		)	(1,788		)	(9,596		)	(8,570		)	—			—			(11,733		)	(10,358		)
Recognition of prior service cost	—			—			(1,030		)	(979		)	(195		)	22			(1,225		)	(957		)
Recognition of actuarial losses/(gains)	1,200			1,945			1,100			1,823			(358		)	(247		)	1,942			3,521
Net periodic pension cost/(credit)	$	885		$	1,719		$	(84	)	$	1,353		$	(450	)	$	(70	)	$	351		$	3,002

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 six months ended June 30:

	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	$	446		$	247		$	7,885		$	8,627		$	85		$	108		$	8,416		$	8,982
Interest cost on projected benefit obligations	3,198			2,878			11,002			9,705			120			202			14,320			12,785
Expected return on plan assets	(4,274		)	(3,576		)	(19,140		)	(17,262		)	—			—			(23,414		)	(20,838		)
Recognition of prior service cost	—			—			(2,070		)	(1,973		)	(389		)	43			(2,459		)	(1,930		)
Recognition of actuarial losses/(gains)	2,400			3,891			2,206			3,669			(718		)	(494		)	3,888			7,066
Net periodic pension cost/(credit)	$	1,770		$	3,440		$	(117	)	$	2,766		$	(902	)	$	(141	)	$	751		$	6,065

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 plans 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.

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Financial Instruments (Details) (USD $)	3 Months Ended		6 Months Ended
	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013	Dec. 31, 2013
3.24% $100 Million Interest Rate Swap [Member] | Designated as a Cash Flow Hedging Instrument [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Line Of Credit Facility Forecasted Borrowing Amount	$ 100,000,000		$ 100,000,000
Derivative, Fixed Interest Rate	3.24%		3.24%
Interest Rate Derivative Liabilities, at Fair Value	4,000,000		4,000,000		5,300,000
Unrealized Gain (Loss) on Interest Rate Cash Flow Hedges, Pretax, Accumulated Other Comprehensive Income (Loss)	(100,000)	200,000	(200,000)	200,000
Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Derivatives Arising During Period, Net of Tax	(100,000)	100,000	(100,000)	100,000
Interest Rate Cash Flow Hedge Gain (Loss) Reclassified to Earnings, Net	(778,000)	(766,000)	(1,546,000)	(1,522,000)
Interest Rate Cash Flow Hedge Gain (Loss) Reclassified to Earnings, Net, Net of Tax	(500,000)	(500,000)	(1,000,000)	(900,000)
Interest Rate Cash Flow Hedge Gain (Loss) to be Reclassified During Next 12 Months, Net	(3,100,000)		(3,100,000)
Interest Rate Cash Flow Hedge Gain Loss To Be Reclassified During Next 12 Months Net of Tax	(1,900,000)		(1,900,000)
Gain (Loss) on Interest Rate Cash Flow Hedge Ineffectiveness	0		0
2.52% $50 Million Interest Rate Swap [Member] | Designated as a Cash Flow Hedging Instrument [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Line Of Credit Facility Forecasted Borrowing Amount	50,000,000		50,000,000
Derivative, Fixed Interest Rate	2.52%		2.52%
Interest Rate Derivative Assets, at Fair Value		1,300,000		1,300,000
Interest Rate Derivative Liabilities, at Fair Value	400,000		400,000
Unrealized Gain (Loss) on Interest Rate Cash Flow Hedges, Pretax, Accumulated Other Comprehensive Income (Loss)	(900,000)	900,000	(1,600,000)	900,000
Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Derivatives Arising During Period, Net of Tax	(600,000)	600,000	(1,000,000)	600,000
Foreign Exchange Forward [Member] | Designated as a Cash Flow Hedging Instrument [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, Notional Amount	77,400,000		77,400,000		78,200,000
Foreign Currency Cash Flow Hedge Asset at Fair Value	400,000		400,000		300,000
Foreign Currency Cash Flow Hedge Liability at Fair Value					100,000
Unrealized Gain (Loss) on Foreign Currency Derivatives, Net, before Tax	100,000	(500,000)	400,000	(1,300,000)
Unrealized Gain (Loss) on Foreign Currency Derivatives, Net, After Tax	42,000	(400,000)	300,000	(1,100,000)
Foreign Currency Cash Flow Hedge Gain (Loss) Reclassified to Earnings, Net	164,000	(557,000)	205,000	(1,031,000)
Foreign Currency Cash Flow Hedge Gain Loss Reclassified To Earnings, Net, After Tax	131,000	(400,000)	200,000	(800,000)
Foreign Currency Cash Flow Hedge Gain (Loss) to be Reclassified During Next 12 Months	400,000		400,000
Foreign Currency Cash Flow Hedge Gain Loss To Be Reclassified During Next 12 Months Net of Tax	300,000		300,000
Gain (Loss) on Foreign Currency Cash Flow Hedge Ineffectiveness	0		0
Foreign Exchange Forward [Member] | Not Designated as Hedging Instrument [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, Notional Amount	189,200,000		189,200,000		180,300,000
Foreign Currency Derivative Instruments Not Designated as Hedging Instruments, Asset at Fair Value	300,000		300,000		700,000
Foreign Currency Derivative Instruments Not Designated as Hedging Instruments, Liability at Fair Value	400,000		400,000		400,000
Gain (Loss) on Foreign Currency Derivative Instruments Not Designated as Hedging Instruments	$ (700,000)	$ 1,500,000	$ (900,000)	$ (700,000)

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Segment Reporting (Details Textuals) (USD $) In Thousands, unless otherwise specified	3 Months Ended		6 Months Ended
	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Segment Reporting (Textuals) [Abstract]
Restructuring Charges	$ 1,905	$ 3,196	$ 3,397	$ 8,198
US Operations [Member]
Segment Reporting (Textuals) [Abstract]
Restructuring Charges	1,000	200	1,600	600
Swiss Operations [Member]
Segment Reporting (Textuals) [Abstract]
Restructuring Charges	300	2,400	600	5,200
Western European Operations [Member]
Segment Reporting (Textuals) [Abstract]
Restructuring Charges	500	600	600	1,300
Chinese Operations [Member]
Segment Reporting (Textuals) [Abstract]
Restructuring Charges	100	100	300	800
Other Operations [Member]
Segment Reporting (Textuals) [Abstract]
Restructuring Charges			$ 300	$ 200

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Summary of Significant Accounting Policies (Policies)

6 Months Ended

Jun. 30, 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:

	June 30, 2014		December 31, 2013
Raw materials and parts	$	101,373	$	98,244
Work-in-progress	41,242		38,061
Finished goods	81,833		74,109
	$	224,448	$	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 and indefinite-lived intangible assets are generally based on an assessment of qualitative and quantitative factors to determine whether it is more likely than not that the fair value of the asset is less than its carrying amount.

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 of benefit. 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 "Intangible - Goodwill and Other" and ASC 360 "Property, Plant and Equipment."

Other intangible assets consisted of the following:

	June 30, 2014							December 31, 2013
	Gross Amount		Accumulated Amortization			Intangibles, Net		Gross Amount		Accumulated Amortization			Intangibles, Net
Customer relationships	$	100,342	$	(27,009	)	$	73,333	$	98,374	$	(25,313	)	$	73,061
Proven technology and patents	43,086		(30,554		)	12,532		43,233		(29,763		)	13,470
Tradename (finite life)	4,375		(1,832		)	2,543		4,300		(1,619		)	2,681
Tradename (indefinite life)	25,105		—			25,105		25,108		—			25,108
Other	1,599		(855		)	744		757		(659		)	98
	$	174,507	$	(60,250	)	$	114,257	$	171,772	$	(57,354	)	$	114,418

The Company recognized amortization expense associated with the above intangible assets of $1.6 million and $1.5 million for the three months ended June 30, 2014 and 2013, respectively and $3.2 million and $2.9 million for the six months ended June 30, 2014 and 2013, respectively. The annual aggregate amortization expense based on the current balance of other intangible assets is estimated at $6.4 million for 2014, $6.0 million for 2015, $5.5 million for 2016, $5.1 million for 2017, $4.9 million for 2018 and $4.5 million for 2019. Purchased intangible amortization was $1.4 million, $1.0 million after tax, and $1.3 million, $0.9 million after tax, for the three months ended June 30, 2014 and 2013, respectively and $2.7 million, $1.9 million after tax, and $2.7 million, $1.8 million after tax, for the six months ended June 30, 2014 and 2013, respectively.

In addition to the above amortization, the Company recorded amortization expense associated with capitalized software of $5.6 million and $4.3 million for the three months ended June 30, 2014 and 2013, respectively and $11.2 million and $8.0 million for the six months ended June 30, 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 six months ended June 30 are as follows:

	June 30, 2014			June 30, 2013
Balance at beginning of period	$	16,991		$	16,295
Accruals for warranties	9,427			9,467
Foreign currency translation	(3		)	(185		)
Payments / utilizations	(9,914		)	(9,815		)
Balance at end of period	$	16,501		$	15,762

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 statement of operations with a corresponding offset to additional paid-in capital in the consolidated balance sheet. The Company recorded $3.3 million and $6.5 million of share-based compensation expense for the three and six months ended June 30, 2014, respectively, compared to $3.0 million and $5.8 million for the corresponding periods in 2013.

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.

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Earnings Per Common Share (Tables)

6 Months Ended

Jun. 30, 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 and six month periods endedJune 30, solely relating to outstanding stock options and restricted stock units:

	2014	2013
Three months ended	676,120	730,045
Six months ended	696,809	766,228

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Segment Reporting (Details) (USD $) In Thousands, unless otherwise specified	3 Months Ended		6 Months Ended
	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013	Dec. 31, 2013
Operations of the Company's operating segments
Net Sales to External Customers	$ 608,834	$ 578,680	$ 1,159,455	$ 1,103,033
Revenue Transactions With Other Operating Segments	0	0	0	0
Total net sales	608,834	578,680	1,159,455	1,103,033
Segment Profit	112,948	106,406	203,901	191,839
Goodwill	457,759	447,166	457,759	447,166	455,842
US Operations [Member]
Operations of the Company's operating segments
Net Sales to External Customers	193,353	186,829	357,347	345,013
Revenue Transactions With Other Operating Segments	21,136	16,694	41,912	35,273
Total net sales	214,489	203,523	399,259	380,286
Segment profit	34,723	33,339	58,418	57,996
Goodwill	307,975	307,933	307,975	307,933
Swiss Operations [Member]
Operations of the Company's operating segments
Net Sales to External Customers	33,742	31,166	65,798	61,863
Revenue Transactions With Other Operating Segments	108,163	103,519	216,388	200,642
Total net sales	141,905	134,685	282,186	262,505
Segment profit	36,559	36,059	72,725	70,260
Goodwill	24,229	22,966	24,229	22,966
Western European Operations [Member]
Operations of the Company's operating segments
Net Sales to External Customers	169,917	156,515	331,434	302,517
Revenue Transactions With Other Operating Segments	27,435	26,481	56,874	54,593
Total net sales	197,352	182,996	388,308	357,110
Segment profit	23,685	23,357	44,561	41,655
Goodwill	109,921	102,114	109,921	102,114
Chinese Operations [Member]
Operations of the Company's operating segments
Net Sales to External Customers	99,922	97,771	191,543	188,498
Revenue Transactions With Other Operating Segments	37,398	37,743	72,942	68,145
Total net sales	137,320	135,514	264,485	256,643
Segment profit	31,497	29,374	57,296	54,022
Goodwill	738	733	738	733
Other Operations [Member]
Operations of the Company's operating segments
Net Sales to External Customers	111,900	106,399	213,333	205,142
Revenue Transactions With Other Operating Segments	1,947	1,509	3,082	2,929
Total net sales	113,847	107,908	216,415	208,071
Segment profit	10,929	9,431	20,088	18,918
Goodwill	14,896	13,420	14,896	13,420
Intersegment Elimination [Member]
Operations of the Company's operating segments
Net Sales to External Customers	0	0	0	0
Revenue Transactions With Other Operating Segments	(196,079)	(185,946)	(391,198)	(361,582)
Total net sales	(196,079)	(185,946)	(391,198)	(361,582)
Segment profit	(24,445)	(25,154)	(49,187)	(51,012)
Goodwill	$ 0	$ 0	$ 0	$ 0

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Share Repurchase Program and Treasury Stock (Details) (USD $)	6 Months Ended		12 Months Ended
	Jun. 30, 2014	Jun. 30, 2013	Dec. 31, 2013
Stock Repurchase Program, Authorized Amount	$ 3,000,000,000
Share Repurchase Program and Treasury Stock (Textuals) [Abstract]
Remaining Amount to Repurchase under the program	708,400,000
Shares Purchased Under Share Repurchase Program	22,200,000
Treasury Stock, Value, Acquired, Cost Method	$ 183,978,000	$ 144,800,000	$ 294,976,000
Number of shares repurchased	757,374	680,934
Average price of share repurchased, per share	$ 242.89	$ 212.69
Exercise of stock options and restricted stock units, shares reissued	157,857	216,176

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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 earnings	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	9,032			16,097	(7,065)
Exercise of stock options and restricted stock units, shares	157,857	157,857
Repurchases of common stock	(183,978)			(183,978)
Repurchases of common stock, shares	(757,374)	(757,374)
Tax benefit resulting from exercise of certain employee stock options	9,569		9,569
Adjustment to Additional Paid in Capital, Share-Based Compensation	6,503		6,503
Net earnings	132,073				132,073
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent	(537)					(537)
Ending balance at Jun. 30, 2014	$ 907,714	$ 448	$ 669,322	$ (1,888,911)	$ 2,162,428	$ (35,573)
Ending balance, shares at Jun. 30, 2014	28,887,558	28,887,558

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Fair Value Measurements

6 Months Ended

Jun. 30, 2014

Fair Value Disclosures [Abstract]

FAIR VALUE MEASUREMENTS

FAIR VALUE MEASUREMENTS

At June 30, 2014 and December 31, 2013, the Company had derivative assets totaling $0.6 million and $2.3 million, respectively, and derivative liabilities totaling $4.8 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 June 30, 2014 and December 31, 2013.

At June 30, 2014 and December 31, 2013, the Company had $12.8 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 June 30, 2014 and December 31, 2013:

	June 30, 2014								December 31, 2013
	Total		Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3
Assets:
Cash equivalents	$	12,805	$	—	$	12,805	$	—	$	16,868	$	—	$	16,868	$	—
Interest rate swap agreement	—		—		—		—		1,269		—		1,269		—
Foreign currency forwards contracts designed as cash flow hedges	361		—		361		—		268		—		268		—
Foreign currency forward contracts not designated as hedging instruments	284		—		284		—		719		—		719		—
Total	$	13,450	$	—	$	13,450	$	—	$	19,124	$	—	$	19,124	$	—
Liabilities:
Interest rate swap agreement	$	4,379	$	—	$	4,379	$	—	$	5,312	$	—	$	5,312	$	—
Foreign currency forwards contracts designed as cash flow hedges	7		—		7		—		103		—		103		—
Foreign currency forward contracts not designated as hedging instruments	377		—		377		—		355		—		355		—
Total	$	4,763	$	—	$	4,763	$	—	$	5,770	$	—	$	5,770	$	—

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Net Periodic Benefit Cost (Tables)

6 Months Ended

Jun. 30, 2014

Defined Benefit Plan Disclosure [Line Items]

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 June 30:

	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		$	3,923		$	4,257		$	43		$	54		$	4,189		$	4,434
Interest cost on projected benefit obligations	1,599			1,439			5,519			4,822			60			101			7,178			6,362
Expected return on plan assets	(2,137		)	(1,788		)	(9,596		)	(8,570		)	—			—			(11,733		)	(10,358		)
Recognition of prior service cost	—			—			(1,030		)	(979		)	(195		)	22			(1,225		)	(957		)
Recognition of actuarial losses/(gains)	1,200			1,945			1,100			1,823			(358		)	(247		)	1,942			3,521
Net periodic pension cost/(credit)	$	885		$	1,719		$	(84	)	$	1,353		$	(450	)	$	(70	)	$	351		$	3,002

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 six months ended June 30:

	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	$	446		$	247		$	7,885		$	8,627		$	85		$	108		$	8,416		$	8,982
Interest cost on projected benefit obligations	3,198			2,878			11,002			9,705			120			202			14,320			12,785
Expected return on plan assets	(4,274		)	(3,576		)	(19,140		)	(17,262		)	—			—			(23,414		)	(20,838		)
Recognition of prior service cost	—			—			(2,070		)	(1,973		)	(389		)	43			(2,459		)	(1,930		)
Recognition of actuarial losses/(gains)	2,400			3,891			2,206			3,669			(718		)	(494		)	3,888			7,066
Net periodic pension cost/(credit)	$	1,770		$	3,440		$	(117	)	$	2,766		$	(902	)	$	(141	)	$	751		$	6,065

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Debt (Details) (USD $) In Thousands, unless otherwise specified	Jun. 30, 2014	Dec. 31, 2013
Long-Term Debt, by Current and Noncurrent, and Short-Term Debt
Total debt	$ 466,670
Less: current portion	(121,306)	(17,067)
Long-Term Debt
Long-term debt	345,364	395,960
US Dollar Amounts [Member]
Long-Term Debt, by Current and Noncurrent, and Short-Term Debt
Total debt	403,166
Less: current portion	(101,355)
Long-Term Debt
Long-term debt	301,811
Other Principal Trading Currencies [Member]
Long-Term Debt, by Current and Noncurrent, and Short-Term Debt
Total debt	63,504
Less: current portion	(19,951)
Long-Term Debt
Long-term debt	43,553
6.30% Senior Notes [Member]
Long-Term Debt, by Current and Noncurrent, and Short-Term Debt
Total debt	100,000
6.30% Senior Notes [Member] | US Dollar Amounts [Member]
Long-Term Debt, by Current and Noncurrent, and Short-Term Debt
Total debt	100,000
6.30% Senior Notes [Member] | Other Principal Trading Currencies [Member]
Long-Term Debt, by Current and Noncurrent, and Short-Term Debt
Total debt	0
3.67% Senior Notes [Member]
Long-Term Debt, by Current and Noncurrent, and Short-Term Debt
Total debt	50,000
3.67% Senior Notes [Member] | US Dollar Amounts [Member]
Long-Term Debt, by Current and Noncurrent, and Short-Term Debt
Total debt	50,000
3.67% Senior Notes [Member] | Other Principal Trading Currencies [Member]
Long-Term Debt, by Current and Noncurrent, and Short-Term Debt
Total debt	0
4.10% Senior Notes [Member]
Long-Term Debt, by Current and Noncurrent, and Short-Term Debt
Total debt	50,000
4.10% Senior Notes [Member] | US Dollar Amounts [Member]
Long-Term Debt, by Current and Noncurrent, and Short-Term Debt
Total debt	50,000
4.10% Senior Notes [Member] | Other Principal Trading Currencies [Member]
Long-Term Debt, by Current and Noncurrent, and Short-Term Debt
Total debt	0
Credit facility [Member]
Long-Term Debt, by Current and Noncurrent, and Short-Term Debt
Total debt	245,364
Credit facility [Member] | US Dollar Amounts [Member]
Long-Term Debt, by Current and Noncurrent, and Short-Term Debt
Total debt	201,811
Credit facility [Member] | Other Principal Trading Currencies [Member]
Long-Term Debt, by Current and Noncurrent, and Short-Term Debt
Total debt	43,553
Other local arrangements [Member]
Long-Term Debt, by Current and Noncurrent, and Short-Term Debt
Total debt	21,306
Other local arrangements [Member] | US Dollar Amounts [Member]
Long-Term Debt, by Current and Noncurrent, and Short-Term Debt
Total debt	1,355
Other local arrangements [Member] | Other Principal Trading Currencies [Member]
Long-Term Debt, by Current and Noncurrent, and Short-Term Debt
Total debt	$ 19,951

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Contingencies

6 Months Ended

Jun. 30, 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.