10-Q

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

Form 10-Q

(Mark One)

x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE QUARTERLY PERIOD ENDED MARCH 31, 2015, 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 27,967.56 shares of Common Stock outstanding at March 31, 2015.

METTLER-TOLEDO INTERNATIONAL INC.

INDEX TO QUARTERLY REPORT ON FORM 10-Q

		PAGE
	PART I. FINANCIAL INFORMATION
Item 1.	Financial Statements
	Unaudited Interim Consolidated Financial Statements:
	Interim Consolidated Statements of Operations and Comprehensive Income for the three months ended March 31, 2015 and 2014	3
	Interim Consolidated Balance Sheets as of March 31, 2015 and December 31, 2014	4
	Interim Consolidated Statements of Shareholders’ Equity for the three months ended March 31, 2015 and twelve months ended December 31, 2014	5
	Interim Consolidated Statements of Cash Flows for the three months ended March 31, 2015 and 2014	6
	Notes to the Interim Consolidated Financial Statements at March 31, 2015	7
Item 2.	Management’s Discussion and Analysis of Financial Condition and Results of Operations	19
Item 3.	Quantitative and Qualitative Disclosures About Market Risk	27
Item 4.	Controls and Procedures	27
	PART II. OTHER INFORMATION
Item 1.	Legal Proceedings	28
Item 1A.	Risk Factors	28
Item 2.	Unregistered Sales of Equity Securities and Use of Proceeds	28
Item 3.	Defaults upon Senior Securities	28
Item 5.	Other Information	28
Item 6.	Exhibits	28
SIGNATURE		29

PART I. FINANCIAL INFORMATION

Item 1. Financial Statements

METTLER-TOLEDO INTERNATIONAL INC.

INTERIM CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME

Three months ended March 31, 2015 and 2014

(In thousands, except share data)

(unaudited)

	March 31, 2015			March 31, 2014
Net sales
Products	$	412,904		$	422,148
Service	122,797			128,473
Total net sales	535,701			550,621
Cost of sales
Products	164,666			181,450
Service	72,230			76,530
Gross profit	298,805			292,641
Research and development	28,461			29,497
Selling, general and administrative	173,038			172,191
Amortization	7,528			7,094
Interest expense	6,725			5,666
Restructuring charges	907			1,492
Other charges (income), net	(817		)	317
Earnings before taxes	82,963			76,384
Provision for taxes	19,912			18,333
Net earnings	$	63,051		$	58,051
Basic earnings per common share:
Net earnings	$	2.24		$	1.98
Weighted average number of common shares	28,115,220			29,370,232
Diluted earnings per common share:
Net earnings	$	2.19		$	1.93
Weighted average number of common and common equivalent shares	28,762,935			30,088,245
Comprehensive income, net of tax (Note 8)	$	56,795		$	59,904

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 March 31, 2015 and December 31, 2014

(In thousands, except share data)

(unaudited)

	March 31, 2015			December 31, 2014
ASSETS
Current assets:
Cash and cash equivalents	$	75,359		$	85,263
Trade accounts receivable, less allowances of $15,190 at March 31, 2015
and $15,961 at December 31, 2014	382,385			435,648
Inventories	218,663			204,531
Current deferred tax assets, net	62,802			62,341
Other current assets and prepaid expenses	75,641			61,647
Total current assets	814,850			849,430
Property, plant and equipment, net	510,518			511,462
Goodwill	437,704			444,085
Other intangible assets, net	110,476			112,784
Non-current deferred tax assets, net	26,625			30,273
Other non-current assets	75,492			61,076
Total assets	$	1,975,665		$	2,009,110
LIABILITIES AND SHAREHOLDERS’ EQUITY
Current liabilities:
Trade accounts payable	$	131,667		$	145,896
Accrued and other liabilities	123,341			120,530
Accrued compensation and related items	89,274			136,107
Deferred revenue and customer prepayments	98,369			82,219
Taxes payable	57,084			59,297
Current deferred tax liabilities	23,275			18,677
Short-term borrowings and current maturities of long-term debt	114,693			116,164
Total current liabilities	637,703			678,890
Long-term debt	409,179			335,790
Non-current deferred tax liabilities	60,636			56,727
Other non-current liabilities	202,019			218,108
Total liabilities	1,309,537			1,289,515
Commitments and contingencies (Note 14)
Shareholders’ equity:
Preferred stock, $0.01 par value per share; authorized 10,000,000 shares	—			—
Common stock, $0.01 par value per share; authorized 125,000,000 shares;	448			448
issued 44,786,011 and 44,786,011 shares; outstanding 27,967,560 and 28,243,007 shares
at March 31, 2015 and December 31, 2014, respectively
Additional paid-in capital	674,355			670,418
Treasury stock at cost (16,818,451 shares at March 31, 2015 and 16,543,004 shares at	(2,205,272		)	(2,095,656		)
December 31, 2014)
Retained earnings	2,415,802			2,357,334
Accumulated other comprehensive loss	(219,205		)	(212,949		)
Total shareholders’ equity	666,128			719,595
Total liabilities and shareholders’ equity	$	1,975,665		$	2,009,110

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

Three months ended March 31, 2015 and twelve months ended December 31, 2014

(In thousands, except share data)

(unaudited)

													Accumulated Other Comprehensive Income (Loss)
					Additional Paid-in Capital
	Common Stock						Treasury Stock			Retained Earnings
	Shares		Amount													Total
Balance at December 31, 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	373,431		—		—		39,374			(18,327		)	—			21,047
Repurchases of common stock	(1,617,499	)	—		—		(414,000		)	—			—			(414,000		)
Tax benefit resulting from exercise of certain
employee stock options	—		—		3,557		—			—			—			3,557
Share-based compensation	—		—		13,611		—			—			—			13,611
Net earnings	—		—		—		—			338,241			—			338,241
Other comprehensive income (loss),
net of tax (Note 8)	—		—		—		—			—			(177,913		)	(177,913		)
Balance at December 31, 2014	28,243,007		$	448	$	670,418	$	(2,095,656	)	$	2,357,334		$	(212,949	)	$	719,595
Exercise of stock options and restricted
stock units	125,398		—		—		14,129			(4,583		)	—			9,546
Repurchases of common stock	(400,845	)	—		—		(123,745		)	—			—			(123,745		)
Tax benefit resulting from exercise of certain employee stock options	—		—		441		—			—			—			441
Share-based compensation	—		—		3,496		—			—			—			3,496
Net earnings	—		—		—		—			63,051			—			63,051
Other comprehensive income (loss),
net of tax (Note 8)	—		—		—		—			—			(6,256		)	(6,256		)
Balance at March 31, 2015	27,967,560		$	448	$	674,355	$	(2,205,272	)	$	2,415,802		$	(219,205	)	$	666,128

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

Three months ended March 31, 2015 and 2014

(In thousands)

(unaudited)

	March 31, 2015			March 31, 2014
Cash flows from operating activities:
Net earnings	$	63,051		$	58,051
Adjustments to reconcile net earnings to net cash provided by operating activities:
Depreciation	8,301			8,420
Amortization	7,528			7,094
Deferred tax benefit	(1,670		)	(695		)
Excess tax benefits from share-based payment arrangements	(441		)	(4,495		)
Share-based compensation	3,496			3,201
Other	(16		)	37
Increase (decrease) in cash resulting from changes in:
Trade accounts receivable, net	38,179			41,500
Inventories	(17,703		)	(13,543		)
Other current assets	183			511
Trade accounts payable	(13,927		)	(26,550		)
Taxes payable	(2,685		)	(10,436		)
Accruals and other	(25,700		)	(20,250		)
Net cash provided by operating activities	58,596			42,845
Cash flows from investing activities:
Proceeds from sale of property, plant and equipment	42			189
Purchase of property, plant and equipment	(18,539		)	(16,716		)
Acquisitions	(200		)	(391		)
Net hedging settlements on intercompany loans	(8,384		)	(235		)
Net cash used in investing activities	(27,081		)	(17,153		)
Cash flows from financing activities:
Proceeds from borrowings	150,996			145,879
Repayments of borrowings	(77,486		)	(93,229		)
Proceeds from stock option exercises	9,546			3,450
Repurchases of common stock	(123,745		)	(82,498		)
Excess tax benefits from share-based payment arrangements	441			4,495
Net cash used in financing activities	(40,248		)	(21,903		)
Effect of exchange rate changes on cash and cash equivalents	(1,171		)	141
Net increase (decrease) in cash and cash equivalents	(9,904		)	3,930
Cash and cash equivalents:
Beginning of period	85,263			111,874
End of period	$	75,359		$	115,804

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 March 31, 2015 – 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 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, 2014.

The accompanying interim consolidated financial statements reflect all adjustments which, in the opinion of management, are necessary for a fair statement of the results of the interim periods presented. Operating results for the three months ended March 31, 2015 are not necessarily indicative of the results to be expected for the full year ending December 31, 2015.

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, 2014.

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 March 31, 2015 – Unaudited (Continued)

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

Inventories

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

Inventories consisted of the following:

	March 31, 2015		December 31, 2014
Raw materials and parts	$	100,936	$	97,969
Work-in-progress	43,144		34,973
Finished goods	74,583		71,589
	$	218,663	$	204,531

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

Other intangible assets consisted of the following:

	March 31, 2015							December 31, 2014
	Gross Amount		Accumulated Amortization			Intangibles, Net		Gross Amount		Accumulated Amortization			Intangibles, Net
Customer relationships	$	96,967	$	(28,258	)	$	68,709	$	98,325	$	(28,159	)	$	70,166
Proven technology and patents	45,546		(31,127		)	14,419		45,588		(30,761		)	14,827
Tradename (finite life)	4,115		(1,953		)	2,162		4,140		(1,786		)	2,354
Tradename (indefinite life)	24,810		—			24,810		24,947		—			24,947
Other	1,550		(1,174		)	376		1,573		(1,083		)	490
	$	172,988	$	(62,512	)	$	110,476	$	174,573	$	(61,789	)	$	112,784

The Company recognized amortization expense associated with the above intangible assets of $1.6 million for both the three months ended March 31, 2015 and 2014, respectively. The annual aggregate amortization expense based on the current balance of other intangible assets is estimated at $6.0 million

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METTLER-TOLEDO INTERNATIONAL INC.

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS

At March 31, 2015 – Unaudited (Continued)

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

for 2015, $5.6 million for 2016, $5.3 million for 2017, $5.0 million for 2018, $4.7 million for 2019 and $4.5 million for 2020. Purchased intangible amortization was $1.5 million, $1.0 million after tax and $1.3 million, $0.9 million after tax for the three months ended March 31, 2015 and 2014.

In addition to the above amortization, the Company recorded amortization expense associated with capitalized software of $5.9 million and $5.5 million for the three months ended March 31, 2015 and 2014, 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.

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METTLER-TOLEDO INTERNATIONAL INC.

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS

At March 31, 2015 – Unaudited (Continued)

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

Employee Termination Benefits

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

Share-Based Compensation

The Company recognizes share-based compensation expense within selling, general and administrative in the consolidated statements of operations and comprehensive income with a corresponding offset to additional paid-in capital in the consolidated balance sheet. The Company recorded $3.5 million and $3.2 million of share-based compensation expense for the three months ended March 31, 2015 and 2014, respectively.

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

The Company has limited involvement with derivative financial instruments and does not use them for trading purposes. 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. As also mentioned in Note 6, the Company will designate its euro denominated debt as a hedge of a portion of its net investment in euro-denominated foreign operations. For additional disclosures on the fair value of financial instruments, also see Note 4 to the interim consolidated financial statements.

Cash Flow Hedges

In July 2012, the Company began entering into foreign currency forward contracts, designated as cash flow hedges, to hedge certain forecasted intercompany sales denominated in euro with its Swiss-based business. The notional amount of foreign currency forward contracts outstanding at March 31, 2015 were $72.6 million (Euro 66.7 million) for contracts that mature in 2015 and $72.4 million (Euro 66.5 million) for contracts that mature in 2016. The notional amount of foreign currency forward contracts outstanding at December 31, 2014 was $87 million (Euro 71.5 million) for contracts that mature in 2015. The amount recognized in other comprehensive income (loss) during the three months period ended March 31, 2015 and 2014 was a gain of $22.8 million and a gain of $0.3 million, respectively.

The Company has an interest rate swap agreement designated as a cash flow hedge. The agreement is a swap which has the effect of changing the floating rate LIBOR-based interest payments associated with $100 million in forecasted borrowings under the Company’s credit facility to a fixed obligation of 3.24%. The swap began in October 2010 and matures in October 2015.

In June 2013, the Company entered into a forward-starting interest rate swap agreement, designated as a cash flow hedge. The agreement will change the floating rate LIBOR-based interest

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METTLER-TOLEDO INTERNATIONAL INC.

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS

At March 31, 2015 – Unaudited (Continued)

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

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.

In March 2015, the Company entered into a forward-starting interest rate swap agreement. The agreement will change the floating rate LIBOR-based interest payments associated with $100 million in forecasted borrowings under the Company's credit agreement to a fixed obligation of 2.25% beginning in February 2017.

The Company's cash flow hedges are recorded gross at fair value in the consolidated balance sheet at March 31, 2015 and December 31, 2014, respectively, and disclosed in Note 5 to the consolidated financial statements. Amounts reclassified into other comprehensive income and the effective portions of the cash flow hedges are further disclosed in Note 8 to the consolidated financial statements. A derivative gain of $9.0 million based upon interest rates and foreign currency rates at March 31, 2015, is expected to be reclassified from other comprehensive income (loss) to earnings in the next 12 months. Through March 31, 2015, no hedge ineffectiveness has occurred in relation to the cash flow hedges.

Other Derivatives

The Company enters into foreign currency forward contracts in order to economically hedge short-term trade and non-trade intercompany balances largely denominated in Swiss franc, other major European currencies, and the Chinese Renminbi 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 are recorded at fair value in the consolidated balance sheet at March 31, 2015 and December 31, 2014, respectively, disclosed in Note 4 to the consolidated financial statements. The Company recognized in other charges (income), a net loss of $9.3 million and $0.2 million during the three months ended March 31, 2015 and 2014, respectively, which was primarily offset by the underlying transaction gains on the related intercompany balances. At March 31, 2015 and December 31, 2014, these contracts had a notional value of $286.9 million and $325.4 million, respectively.    

4. FAIR VALUE MEASUREMENTS

At March 31, 2015 and December 31, 2014, the Company had derivative assets totaling $23.3 million and $2.2 million, respectively, and derivative liabilities totaling $7.4 million and $5.6 million, respectively. The fair values of the interest rate swap agreement, foreign currency forward contracts designated as cash flow hedges, and foreign currency forward contracts that economically hedge short-term intercompany balances are estimated based upon inputs from current valuation information obtained from dealer quotes and priced with observable market assumptions and appropriate valuation adjustments for credit risk. The Company has evaluated the valuation methodologies used to develop the fair values by dealers in order to determine whether such valuations are representative of an exit price in the Company’s principal market. In addition, the Company uses an internally developed model to perform testing on the valuations received from brokers. The Company has also considered both its own credit risk and counterparty credit risk in determining fair value and determined these adjustments were insignificant at March 31, 2015 and December 31, 2014.

At March 31, 2015 and December 31, 2014, the Company had $12.2 million and $14.2 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 fair value of the Company's fixed interest rate debt was estimated using Level 2 inputs, primarily discounted cash flow models, based on estimated current rates offered for similar debt under current market conditions for the Company. The fair value of the Company's debt exceeds the carrying value by approximately $14.2 million and $17.8 million as March 31, 2015 and December 31, 2014, respectively.

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METTLER-TOLEDO INTERNATIONAL INC.

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS

At March 31, 2015 – Unaudited (Continued)

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

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

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

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

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

Level 3: Unobservable inputs

The following table presents for each of these hierarchy levels, the Company’s assets and liabilities that are measured at fair value on a recurring basis at March 31, 2015 and December 31, 2014:

	March 31, 2015								December 31, 2014
	Total		Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3
Assets:
Cash equivalents	$	12,167	$	—	$	12,167	$	—	$	14,188	$	—	$	14,188	$	—
Foreign currency forward contracts designated as cash flow hedge	20,293		—		20,293		—		567		—		567		—
Foreign currency forward contracts not designated as hedging instruments	3,037		—		3,037		—		1,611		—		1,611		—
Total	$	35,497	$	—	$	35,497	$	—	$	16,366	$	—	$	16,366	$	—
Liabilities:
Interest rate swap agreements	$	5,162	$	—	$	5,162	$	—	$	3,768	$	—	$	3,768	$	—
Foreign currency forward contracts not designated as hedging instruments	2,197		—		2,197		—		1,799		—		1,799		—
Total	$	7,359	$	—	$	7,359	$	—	$	5,567	$	—	$	5,567	$	—

5. INCOME TAXES

The provision for taxes is based upon using the Company's projected annual effective tax rate of 24% for each of the three month periods ended March 31, 2015 and 2014.

- 12 -

METTLER-TOLEDO INTERNATIONAL INC.

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS

At March 31, 2015 – Unaudited (Continued)

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

6. DEBT

Debt consisted of the following at March 31, 2015:

	March 31, 2015
	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
3.84% $125 million Senior Notes due September 19, 2024	125,000			—			125,000
$800 million Credit Agreement, interest at LIBOR plus 75 basis points	173,170			11,009			184,179
Other local arrangements	—			14,693			14,693
Total debt	498,170			25,702			523,872
Less: current portion	(100,000		)	(14,693		)	(114,693		)
Total long-term debt	$	398,170		$	11,009		$	409,179

As of March 31, 2015, the Company had $611.4 million of availability remaining under the credit agreement.

In March 2015, the Company entered into an agreement to issue and sell Euro 125 million of fifteen-year Senior Notes in a private placement. The Company will issue the Euro 125 million with a fixed interest rate of 1.47% ("1.47% Senior Notes") in June 2015. The Senior Notes are senior unsecured obligations of the Company and will mature in June 2030. The Company will designate the 1.47% Senior Notes as a hedge of a portion of its net investment in euro-denominated foreign subsidiaries to reduce foreign currency risk associated with the net investment in these operations. Changes in the value of this debt resulting from fluctuations in the euro to U.S. dollar exchange rate will be recorded as foreign currency translation adjustments within other comprehensive income (loss).

Interest on the 1.47% Senior Notes is payable 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, at a price equal to 100% of the principal amount thereof plus accrued and unpaid interest, plus in some instances, a "make-whole" prepayment premium and a swap related currency loss.

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 $354.6 million of remaining common shares authorized to be repurchased under the program. 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 23.5 million shares since the inception of the program through March 31, 2015. During the three months ended March 31, 2015 and 2014, the Company spent $123.7 million and $82.5 million on the repurchase of 400,845 shares and 336,188 shares at an average price per

- 13 -

METTLER-TOLEDO INTERNATIONAL INC.

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS

At March 31, 2015 – Unaudited (Continued)

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

share of $308.69 and $245.37, respectively. The Company reissued 125,398 shares and 69,442 shares held in treasury for the exercise of stock options and restricted stock units during the three months ended March 31, 2015 and 2014, respectively.

8. ACCUMULATED OTHER COMPREHENSIVE INCOME

The following table presents changes in accumulated other comprehensive income by component for the periods ended March 31, 2015 and 2014:

	Currency Translation Adjustment			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, 2014	$	(4,960	)	$	(1,944	)	$	(206,045	)	$	(212,949	)
Other comprehensive income (loss), net of tax:
Unrealized gains (losses) cash flow hedging arrangements	—			18,359			—			18,359
Foreign currency translation adjustment	(25,941		)	(1,547		)	2,337			(25,151		)
Amounts recognized from accumulated other comprehensive income (loss), net of tax	—			(1,987		)	2,523			536
Net change in other comprehensive income (loss), net of tax	(25,941		)	14,825			4,860			(6,256		)
Balance at March 31, 2015	$	(30,901	)	$	12,881		$	(201,185	)	$	(219,205	)

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

- 14 -

METTLER-TOLEDO INTERNATIONAL INC.

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS

At March 31, 2015 – Unaudited (Continued)

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

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

	2015			2014
	Amount Recognized From Accumulated Other Comprehensive Income (Loss)						Location of Amounts Recognized in Earnings
Effective portion of (gains) losses on cash flow hedging arrangements:
Interest rate swap agreements	$	765		$	768		Interest expense
Foreign currency forward contracts	(3,091		)	(41		)	Cost of sales - products
Total before taxes	(2,326		)	727
Provision for taxes	(339		)	287			Provision for taxes
Total, net of taxes	$	(1,987	)	$	440
Recognition of defined benefit pension and post-retirement items:
Recognition of actuarial (gains) losses, plan amendments and prior service cost, before taxes	$	3,441		$	712		(a)
Provision for taxes	918			316			Provision for taxes
Total, net of taxes	$	2,523		$	396

(a) These accumulated other comprehensive income (loss) components are included in the computation of net periodic pension and post-retirement cost. See Note 10 for additional details for the three months ended March 31, 2015 and 2014.

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

	March 31, 2015			March 31, 2014
Net earnings	$	63,051		$	58,051
Other comprehensive income (loss), net of tax	(6,256		)	$	1,853
Comprehensive income (loss), net of tax	$	56,795		$	59,904

9. EARNINGS PER COMMON SHARE

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

	2015	2014
Three months ended	647,715	718,013

Outstanding options and restricted stock units to purchase or receive 198,508 and 147,159 shares of common stock for the three months ended March 31, 2015 and 2014, respectively, have been excluded from the calculation of diluted weighted average number of common and common equivalent shares as such options and restricted stock units would be anti-dilutive.

- 15 -

METTLER-TOLEDO INTERNATIONAL INC.

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS

At March 31, 2015 – Unaudited (Continued)

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

10. NET PERIODIC BENEFIT COST

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

	U.S. Pension Benefits						Non-U.S. Pension Benefits						Other U.S. Post-retirement Benefits						Total
	2015			2014			2015			2014			2015			2014			2015			2014
Service cost, net	$	209		$	223		$	4,745		$	3,962		$	—		$	43		$	4,954		$	4,228
Interest cost on projected benefit obligations	1,608			1,599			3,554			5,483			35			60			5,197			7,142
Expected return on plan assets	(2,394		)	(2,137		)	(9,299		)	(9,544		)	—			—			(11,693		)	(11,681		)
Recognition of prior service cost	—			—			(973		)	(1,040		)	(469		)	(195		)	(1,442		)	(1,235		)
Recognition of actuarial losses/(gains)	1,907			1,200			3,819			1,106			(843		)	(359		)	4,883			1,947
Net periodic pension cost/(credit)	$	1,330		$	885		$	1,846		$	(33	)	$	(1,277	)	$	(451	)	$	1,899		$	401

As previously disclosed in the Company’s Annual Report on Form 10-K for the year ended December 31, 2014, the Company expects to make employer contributions of approximately $19.6 million to its non-U.S. pension plan and employer contributions of approximately $0.7 million to itsU.S. post-retirement medical plan during the year ended December 31, 2015. These estimates may change based upon several factors, including fluctuations in currency exchange rates, actual returns on plan assets and changes in legal requirements.

11. RESTRUCTURING CHARGES

For the three months ending March 31, 2015, the Company incurred $0.9 million of restructuring expenses which primarily comprise 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 three months ended March 31, 2015 is as follows:

	Total
Balance at December 31, 2014	8,436
Restructuring charges	907
Cash payments / utilization	(806	)
Impact of foreign currency	(625	)
Balance at March 31, 2015	7,912

12. OTHER CHARGES (INCOME), NET

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

- 16 -

METTLER-TOLEDO INTERNATIONAL INC.

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS

At March 31, 2015 – Unaudited (Continued)

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

13. SEGMENT REPORTING

As disclosed in Note 16 to the Company's consolidated financial statements for the year ending December 31, 2014, the Company has determined there are five reportable segments:  U.S. Operations, Swiss Operations, Western European Operations, Chinese Operations and Other.

The Company evaluates segment performance based on Segment Profit (gross profit less research and development and selling, general and administrative expenses, before amortization, interest expense, restructuring charges, other charges (income), net and taxes).

The following tables show the operations of the Company’s operating segments:

	Net Sales to		Net Sales to
For the three months ended	External		Other			Total Net			Segment
March 31, 2015	Customers		Segments			Sales			Profit			Goodwill
U.S. Operations	$	178,220	$	18,292		$	196,512		$	24,226		$	308,863
Swiss Operations	31,224		99,783			131,007			36,570			22,507
Western European Operations	142,076		27,361			169,437			20,341			92,430
Chinese Operations	86,449		43,505			129,954			33,236			744
Other (a)	97,732		1,357			99,089			8,982			13,160
Eliminations and Corporate (b)	—		(190,298		)	(190,298		)	(26,049		)	—
Total	$	535,701	$	—		$	535,701		$	97,306		$	437,704

	Net Sales to		Net Sales to
For the three months ended	External		Other			Total Net			Segment
March 31, 2014	Customers		Segments			Sales			Profit (c)			Goodwill
U.S. Operations	$	163,994	$	20,775		$	184,769		$	21,637		$	307,933
Swiss Operations	33,006		108,225			141,231			32,228			24,420
Western European Operations	160,567		29,438			190,005			20,876			109,056
Chinese Operations	91,621		35,544			127,165			31,796			738
Other (a)	101,433		1,135			102,568			9,159			14,795
Eliminations and Corporate (b)	—		(195,117		)	(195,117		)	(24,743		)	—
Total	$	550,621	$	—		$	550,621		$	90,953		$	456,942

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

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

(c) 2014 Segment profit for the U.S., Swiss, and China operations has been reclassified to conform to current period presentation related to certain inter-segment transactions.

- 17 -

METTLER-TOLEDO INTERNATIONAL INC.

NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS

At March 31, 2015 – Unaudited (Continued)

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

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

	Three Months Ended
	March 31, 2015			March 31, 2014
Earnings before taxes	$	82,963		$	76,384
Amortization	7,528			7,094
Interest expense	6,725			5,666
Restructuring charges	907			1,492
Other charges (income), net	(817		)	317
Segment profit	$	97,306		$	90,953

During the three months ended March 31, 2015, restructuring charges of $0.9 million were recognized, of which $0.7 million, $0.1 million and $0.3 million related to the Company's Swiss, Chinese and Other operations, respectively offset by a credit of $0.2 million related to the Company’s Western operations. Restructuring charges of $1.5 million were recognized during the three months ended March 31, 2014, of which $0.6 million, $0.3 million, $0.1 million, $0.2 million, and $0.3 million related to the Company’s U.S., Swiss, Western European, China and Other operations, respectively.

14. CONTINGENCIES

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

- 18 -

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

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

General

Our interim consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America. Operating results for the three months ended March 31, 2015 are not necessarily indicative of the results to be expected for the full year ending December 31, 2015.

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

Results of Operations – Consolidated

The following tables set forth certain items from our interim consolidated statements of operations and comprehensive income for the three month periods ended March 31, 2015 and 2014 (amounts in thousands).

	Three months ended March 31,
	2015					2014
	(unaudited)			%		(unaudited)		%
Net sales	$	535,701		100.0		$	550,621	100.0
Cost of sales	236,896			44.2		257,980		46.9
Gross profit	298,805			55.8		292,641		53.1
Research and development	28,461			5.3		29,497		5.4
Selling, general and administrative	173,038			32.3		172,191		31.3
Amortization	7,528			1.4		7,094		1.3
Interest expense	6,725			1.3		5,666		1.0
Restructuring charges	907			0.2		1,492		0.3
Other charges (income), net	(817		)	(0.2	)	317		—
Earnings before taxes	82,963			15.5		76,384		13.8
Provision for taxes	19,912			3.7		18,333		3.3
Net earnings	$	63,051		11.8		$	58,051	10.5

Net sales

Net sales were $535.7 million for the three months ended March 31, 2015, compared to $550.6 million for the corresponding period in 2014. This represents a decrease in U.S. dollars of 3%. Excluding the effect of currency exchange rate fluctuations, or in local currencies, net sales increased 5% for the three months ended March 31, 2015. Market conditions were particularly strong in the United States offset in part by unfavorable market conditions in our Chinese industrial business. We remain cautious about our sales growth outlook as global market conditions remain uncertain and certain emerging markets (including China and Russia) remain weak.

- 19 -

Net sales by geographic destination for the three months ended March 31, 2015, in U.S. dollars increased 6% in the Americas, 1% in Asia/Rest of World, and decreased 14% in Europe. In local currencies, our net sales by geographic destination increased 7% in the Americas, 2% in Europe, and 5% in Asia/Rest of World. Net sales in Europe and Asia/Rest of World were reduced by volume declines in Russia and our Chinese industrial business, respectively, due to unfavorable market conditions. A discussion of sales by operating segment is included below.

As described in Note 16 to our consolidated financial statements for the year ended December 31, 2014, 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 decreased 2% in U.S. dollars and increased 5% in local currency for the three months ended March 31, 2015 compared to the prior period. Service revenue (including spare parts) decreased 4% in U.S. dollars and increased 4% in local currency during the three months ended March 31, 2015 compared to the corresponding period in 2014.

Net sales of our laboratory-related products, which represented approximately 49% of our total net sales for the three months ended March 31, 2015, increased 1% in U.S. dollars and 8% in local currencies during the three months ended March 31, 2015 was driven by strong volume and favorable price realization in most product categories, including particularly strong growth in process analytics, analytical instruments, and pipettes.

Net sales of our industrial-related products, which represented approximately 43% of our total net sales for the three months ended March 31, 2015, decreased 6% in U.S. dollars and increased 1% in local currencies during the three months ended March 31, 2015. The local currency increase in net sales of our industrial-related products includes strong growth in product inspection and core-industrial products in the Americas due to increased volume and favorable price realization during the three months ended March 31, 2015. These results were offset by sales volume declines in China and Russia. Overall Chinese market conditions for our industrial products remain weak and the timing of a recovery is uncertain.

Net sales in our food retailing markets, which represented approximately 8% of our total net sales for the three months ended March 31, 2015, decreased 4% in U.S. dollars and increased 5% in local currencies during the three months ended March 31, 2015, with particularly strong volume growth in Asia/Rest of World offset in part by reduced net sales in the Americas due to the timing of project activity.

Gross profit

Gross profit as a percentage of net sales was 55.8% for the three months ended March 31, 2015 compared to 53.1% for the corresponding period in 2014.

Gross profit as a percentage of net sales for products was 60.1% and 57.0% for the three month periods ended March 31, 2015 and 2014.

Gross profit as a percentage of net sales for services (including spare parts) was 41.2% for the three months ended March 31, 2015 compared to 40.4% for the corresponding period in 2014.

The increase in gross profit as a percentage of net sales for the three months ended March 31, 2015 includes the benefit of hedging gains and currency translation, favorable price realization, increased sales volume, reduced material costs, and favorable business mix, offset in part by investments in our field service organization.

- 20 -

Research and development and selling, general and administrative expenses

Research and development expenses as a percentage of net sales were 5.3% for the three months ended March 31, 2015 compared to 5.4% for the corresponding period during 2014. Research and development expenses decreased 4% in U.S. dollars and increased 2% in local currencies, during the three months ended March 31, 2015 compared to the corresponding period in 2014 relating to the timing of research and development project activity.

Selling, general and administrative expenses as a percentage of net sales were 32.3% for the three months ended March 31, 2015 compared to 31.3% in the corresponding period during 2014. Selling, general and administrative expenses were flat in U.S. dollars and increased 8% in local currencies, during the three months ended March 31, 2015 compared to the corresponding period in 2014. The increase includes additional investments in our field sales organization, increased cash incentive compensation and higher employee benefit costs.

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

Amortization expense was $7.5 million for the three months ended March 31, 2015 and $7.1 million for the corresponding period in 2014.

Interest expense was $6.7 million for the three months ended March 31, 2015 and $5.7 million for the corresponding period in 2014. The increase in interest expense for the three month period ended March 31, 2015 is primarily a result of an increase in average borrowings.

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

The provision for taxes is based upon using our projected annual effective tax rate of 24% for the three month periods ended March 31, 2015 and 2014. 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 16 to our consolidated financial statements for the year ended December 31, 2014.

U.S. Operations (amounts in thousands)

	Three months ended March 31,
	2015		2014		%
Total net sales	$	196,512	$	184,769	6	%
Net sales to external customers	$	178,220	$	163,994	9	%
Segment profit	$	24,226	$	21,637	12	%

Total net sales and net sales to external customers increased 6% and 9%, respectively for the three months ended March 31, 2015 compared with the corresponding period in 2014. The increase in total net sales and net sales to external customers for the three months ended March 31, 2015 reflects strong growth in most product categories with particularly strong sales growth in pipettes and analytical instruments.

Segment profit increased $2.6 million for the three months ended March 31, 2015 compared to the corresponding period in 2014 primarily due to increased net sales, offset in part by increased sales and service investments and higher cash incentive expense.

- 21 -

Swiss Operations (amounts in thousands)

	Three months ended March 31,
	2015		2014		%1)
Total net sales	$	131,007	$	141,231	(7	)%
Net sales to external customers	$	31,224	$	33,006	(5	)%
Segment profit	$	36,570	$	32,228	13	%

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

Total net sales decreased 7% in U.S. dollars and 1% in local currency for the three months ended March 31, 2015 compared to the corresponding period in 2014. Net sales to external customers decreased 5% in U.S. dollars and 1% in local currency during the three months ended March 31, 2015 compared to the corresponding period in 2014. The decrease in local currency net sales to external customers for the three month period ended March 31, 2015 primarily related to soft market conditions.

Segment profit increased $4.3 million for the three month period ended March 31, 2015 compared to the corresponding period in 2014. Segment profit during the three months ended March 31, 2015 includes the benefit of currency hedging, the impact of favorable inter-segment price realization and reduced material costs, offset in part by unfavorable foreign currency translation.

Western European Operations (amounts in thousands)

	Three months ended March 31,
	2015		2014		%1)
Total net sales	$	169,437	$	190,005	(11	)%
Net sales to external customers	$	142,076	$	160,567	(12	)%
Segment profit	$	20,341	$	20,876	(3	)%

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

Total net sales decreased 11% in U.S. dollars and increased 7% in local currencies during the three month period ended March 31, 2015 compared to the corresponding period in 2014. Net sales to external customers decreased 12% in U.S. dollars and increased 7% in local currencies during the three month period ended March 31, 2015 compared to the corresponding period in 2014. Local currency total net sales and net sales to external customers for the three months ended March 31, 2015 increased in most product categories with particularly strong sales growth in analytical instruments, process analytics, and product inspection.

Segment profit decreased $0.5 million for the three month period ended March 31, 2015 compared to the corresponding period in 2014 primarily due to increased sales and service investments and unfavorable foreign currency translation, offset in part by increased total net sales in local currencies.

Chinese Operations (amounts in thousands)

	Three months ended March 31,
	2015		2014		%1)
Total net sales	$	129,954	$	127,165	2	%
Net sales to external customers	$	86,449	$	91,621	(6	)%
Segment profit	$	33,236	$	31,796	5	%

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

Total net sales increased 2% in U.S. dollars and 3% in local currency during the three months ended March 31, 2015 compared to the corresponding period in 2014. Net sales to external customers decreased 6% in U.S. dollars and 5% in local currency during the three months ended

- 22 -

March 31, 2015 as compared to the corresponding period in 2014. The decrease in net sales to external customers during the three months ended March 31, 2015 reflects a sales volume decline in industrial-related products, offset in part by strong growth in laboratory-related products and food retailing. Chinese market conditions for our industrial-related products remain weak and the timing of a recovery is unclear.

Segment profit increased $1.4 million for the three month period ended March 31, 2015 compared to the corresponding period in 2014. The increase in segment profit for the three month period ended March 31, 2015 includes increased inter-segment net sales, favorable price realization, positive business mix, and reduced material costs, offset in part by a reduction in net sales to external customers.

Other (amounts in thousands)

	Three months ended March 31,
	2015		2014		%1)
Total net sales	$	99,089	$	102,568	(3	)%
Net sales to external customers	$	97,732	$	101,433	(4	)%
Segment profit	$	8,982	$	9,159	(2	)%

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

Total net sales decreased 3% in U.S. dollars and increased 5% in local currencies during the three month period ended March 31, 2015 compared to the corresponding period in 2014. Net sales to external customers decreased 4% in U.S. dollars and increased 5% in local currency during the three month period ended March 31, 2015 compared to the corresponding period in 2014. The increase in local currencies total net sales and net sales to external customers includes particularly strong volume growth and increased price realization in Southeast Asia and Australia, offset in part by a significant sales volume decline in Russia.

Segment profit decreased $0.2 million for the three months ended March 31, 2015 compared to the corresponding period in 2014. The decrease in segment profit is primarily due to unfavorable currency and increased sales and service investments.

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 $58.6 million during the three months ended March 31, 2015, compared to $42.8 million in the corresponding period in 2014. The increase in 2015 includes the increase in net earnings. Working capital changes were flat during the three months ended March 31, 2015 as compared to the prior year period, and include increased cash incentive payments of approximately $14 million.

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 $18.5 million for the three months ended March 31, 2015 compared to $16.7 million in the corresponding period in 2014.

We plan to repatriate earnings from China, Switzerland, Germany, the United Kingdom and certain other countries in future years and expect the only additional cost associated with the repatriation of such earnings outside the United States will be withholding taxes. All other undistributed earnings are considered to be permanently reinvested. As of March 31, 2015, we have an immaterial amount of cash and cash equivalents outside the United States where undistributed

- 23 -

earnings are considered permanently reinvested. Accordingly, we believe the tax impact associated with repatriating our undistributed foreign earnings will not have a material effect on our liquidity.

Senior Notes and Credit Facility Agreement

Our debt consisted of the following at March 31, 2015:

	March 31, 2015
	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
3.84% $125 million Senior Notes due September 19, 2024	125,000			—			125,000
Credit agreement	173,170			11,009			184,179
Other local arrangements	—			14,693			14,693
Total debt	498,170			25,702			523,872
Less: current portion	(100,000		)	(14,693		)	(114,693		)
Total long-term debt	$	398,170		$	11,009		$	409,179

As of March 31, 2015, approximately $611.4 million was available under our credit agreement. Changes in exchange rates between the currencies in which we generate cash flows and the currencies in which our borrowings are denominated affect our liquidity. In addition, because we borrow in a variety of currencies, our debt balances fluctuate due to changes in exchange rates.

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

In March 2015, we entered into an agreement to issue and sell Euro 125 million of fifteen-year Senior Notes in a private placement. We will issue the Euro 125 million with a fixed interest rate of 1.47% ("1.47% Senior Notes") in June 2015. The Senior Notes are senior unsecured obligations of the Company and will mature in June 2030.

Interest on the 1.47% Senior Notes is payable 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, at a price equal to 100% of the principal amount thereof plus accrued and unpaid interest, plus in some instances, a "make-whole" prepayment premium and a swap related currency loss.

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.

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

Share Repurchase Program

We have a $3 billion share repurchase program, of which there were $354.6 million of remaining common shares authorized to be repurchased under the program. 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

- 24 -

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

We have purchased 23.5 million shares since the inception of the program through March 31, 2015. During the three months ended March 31, 2015 and 2014, we spent $123.7 million and $82.5 million on the repurchase of 400,845 shares and 336,188 shares at an average price per share of $308.69 and $245.37, respectively. We reissued 125,398 shares and 69,442 shares held in treasury for the exercise of stock options and restricted stock units during the three months ended March 31, 2015 and 2014, respectively.

Effect of Currency on Results of Operations

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

We entered into foreign currency forward contracts that reduce our exposure from the Swiss franc strengthening against the euro through 2016. The notional amount and average forward rate of our foreign currency forward contracts at March 31, 2015 is Euro 67 million and 1.20 for contracts that mature in 2015, and Euro 67 million and 1.19 for contracts that mature in 2016, respectively. In September 2011, the Swiss National Bank established an exchange rate floor of 1.20 Swiss francs per euro which was abandoned in January 2015 after we entered into the previously mentioned foreign currency forward contracts. The Swiss National Bank's abandonment of the euro exchange rate floor resulted in an immediate strengthening of the Swiss franc against the euro and U.S. dollar. Absent these forward currency forward contracts, we estimate a 1% strengthening of the Swiss franc against the euro would reduce our earnings before tax by approximately $1.1 million to $1.3 million annually. We also estimate a 1% strengthening of the Swiss franc against the U.S. dollar would reduce our earnings before tax by approximately $0.5 million to $0.7 million annually in addition to the previously mentioned strengthening of the Swiss franc against the euro impact.

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 reduction of approximately $0.7 million to $0.9 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 March 31, 2015, 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 $2.9 million in the reported U.S. dollar value of our debt.

Recent Accounting Pronouncements

In April 2015, the FASB issued ASU 2015-03, to ASC 835-30 "Interest - Imputation of Interest." ASU 2015-03 will require that debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability. The recognition and measurement guidance for debt issuance costs are not affected by the amendments in this update. The guidance becomes effective for financial statements issued for fiscal years beginning January 1, 2016, and interim periods within fiscal years beginning January 1, 2017, with early adoption permitted. We are currently evaluating the impact the adoption of this

- 25 -

guidance but does not believe it will have a material impact on the consolidated financial position of the Company.

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 year beginning January 1, 2017. The FASB has proposed delaying this standard by one year. If the proposal is approved, early adoption would be permitted as of the original effective date. We are currently evaluating the impact the adoption of this guidance will have on the consolidated results of operations, financial position, and disclosures.     

- 26 -

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 2014 Annual Report on Form 10-K.

Item 3. Quantitative and Qualitative Disclosures About Market Risk

As of March 31, 2015, 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, 2014.

Item 4. Controls and Procedures

Under the supervision and with the participation of our management, including the Chief Executive Officer, Principal Financial Officer and Principal Accounting Officer, we have evaluated the effectiveness of our disclosure controls and procedures as required by Exchange Act Rule 13a-15(b) as of the end of the period covered by this report. Based upon that evaluation, the Chief Executive Officer, Principal Financial Officer and Principal Accounting Officer, have concluded that these disclosure controls and procedures are effective. There were no changes in our internal control over financial reporting during the quarter ended March 31, 2015 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 three months ended March 31, 2015 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, 2014.

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

Issuer Purchases of Equity Securities

	(a)	(b)		(c)	(d)
	Total Number of Shares Purchased	Average Price Paid per Share		Total Number of Shares Purchased as Part of Publicly Announced Program	Approximate Dollar Value (in thousands of Shares that may yet be Purchased under the Program)
January 1 to January 31, 2015	115,772	$	297.45	115,772	$	443,937
February 1 to February 28, 2015	131,194	$	307.88	131,194	$	403,543
March 1 to March 31, 2015	153,879	$	317.85	153,879	$	354,630
Total	400,845	$	308.69	400,845	$	354,630

The Company has a share repurchase program, of which there is $354.6 million remaining to repurchase common shares as of March 31, 2015. We have purchased 23.5 million shares since the inception of the program through March 31, 2015.

During the three months ended March 31, 2015 and 2014, we spent $123.7 million and $82.5 million on the repurchase of 400,845 and 336,188 shares at an average price per share of $308.69 and $245.37, respectively. We reissued 125,398 shares and 69,442 shares held in treasury for the exercise of stock options and restricted stock units for the three months ended March 31, 2015 and 2014, respectively.

Item 3. Defaults Upon Senior Securities.None

Item 5. Other information.None

Item 6. Exhibits. See Exhibit Index below.

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SIGNATURE

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

		Mettler-Toledo International Inc.
Date:	May 8, 2015	By:	/s/ Shawn P. Vadala
			Shawn P. Vadala
			Chief Financial Officer and Principal Accounting Officer

- 29 -

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

- 30 -

EX-31.1

Exhibit 31.1

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

I, Olivier A. Filliol, certify that:

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

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

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

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

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

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

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

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

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

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

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

Dated: May 8, 2015

/s/ Olivier A. Filliol

Olivier A. Filliol    

Chief Executive Officer

EX-31.2

Exhibit 31.2

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

I, William P. Donnelly, certify that:

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

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

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

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

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

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

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

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

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

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

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

Dated: May 8, 2015

/s/ William P. Donnelly

William P. Donnelly

Executive Vice President (Principal Financial Officer)

EX-31.3

Exhibit 31.3

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

I, Shawn P. Vadala, certify that:

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

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

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

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

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

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

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

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

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

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

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

Dated: May 8, 2015

/s/ Shawn P. Vadala

Shawn P. Vadala

Chief Financial Officer (Principal Accounting Officer)

EX-32

Exhibit 32

Certification Pursuant to

Section 906 of the Sarbanes-Oxley Act of 2002

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

This quarterly report on Form 10-Q for the period ending March 31, 2015 fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934 and the information contained in this periodic report fairly presents, in all material respects, the financial condition and results of operations of the Company.

Dated: May 8, 2015

/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

Accumulated Other Comprehensive Income (Details) (USD $) In Thousands, unless otherwise specified	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014	Dec. 31, 2014	Dec. 31, 2013
Accumulated Other Comprehensive Income (Loss), Net of Tax	$ (219,205)	$ (33,183)	$ (212,949)	$ (35,036)
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax	18,359	(281)
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment, Net of Tax	(25,151)	1,298
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax	536	836
Other Comprehensive Income (Loss), Net of Tax	(6,256)	1,853
Accumulated Translation Adjustment [Member]
Accumulated Other Comprehensive Income (Loss), Net of Tax	(30,901)	79,260	(4,960)	77,915
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax	0	0
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment, Net of Tax	(25,941)	1,345
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax	0	0
Other Comprehensive Income (Loss), Net of Tax	(25,941)	1,345
Accumulated Net Gain (Loss) from Designated or Qualifying Cash Flow Hedges [Member]
Accumulated Other Comprehensive Income (Loss), Net of Tax	12,881	(2,231)	(1,944)	(2,433)
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax	18,359	(281)
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment, Net of Tax	(1,547)	43
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax	(1,987)	440
Other Comprehensive Income (Loss), Net of Tax	14,825	202
Accumulated Defined Benefit Plans Adjustment [Member]
Accumulated Other Comprehensive Income (Loss), Net of Tax	(201,185)	(110,212)	(206,045)	(110,518)
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax	0	0
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment, Net of Tax	2,337	(90)
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax	2,523	396
Other Comprehensive Income (Loss), Net of Tax	$ 4,860	$ 306

XML

Segment Reporting (Details Textuals) (USD $) In Thousands, unless otherwise specified	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Segment Reporting (Textuals) [Abstract]
Restructuring Charges	$ 907	$ 1,492
Western European Operations [Member]
Segment Reporting (Textuals) [Abstract]
Restructuring Charges	(200)	100
Chinese Operations [Member]
Segment Reporting (Textuals) [Abstract]
Restructuring Charges	100	200
Other Operations [Member]
Segment Reporting (Textuals) [Abstract]
Restructuring Charges	300	300
Us Operations segment Member
Segment Reporting (Textuals) [Abstract]
Restructuring Charges		600
Swiss Operations segment Member
Segment Reporting (Textuals) [Abstract]
Restructuring Charges	$ 700	$ 300

XML

Segment Reporting (Details) (USD $) In Thousands, unless otherwise specified	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014	Dec. 31, 2014
Operations of the Company's operating segments
Net Sales to External Customers	$ 535,701	$ 550,621
Revenue Transactions With Other Operating Segments	0	0
Total net sales	535,701	550,621
Segment Profit	97,306	90,953
Goodwill	437,704	456,942	444,085
Us Operations segment Member
Operations of the Company's operating segments
Net Sales to External Customers	178,220	163,994
Revenue Transactions With Other Operating Segments	18,292	20,775
Total net sales	196,512	184,769
Segment profit	24,226	21,637
Goodwill	308,863	307,933
Swiss Operations segment Member
Operations of the Company's operating segments
Net Sales to External Customers	31,224	33,006
Revenue Transactions With Other Operating Segments	99,783	108,225
Total net sales	131,007	141,231
Segment profit	36,570	32,228
Goodwill	22,507	24,420
Western European Operations [Member]
Operations of the Company's operating segments
Net Sales to External Customers	142,076	160,567
Revenue Transactions With Other Operating Segments	27,361	29,438
Total net sales	169,437	190,005
Segment profit	20,341	20,876
Goodwill	92,430	109,056
Chinese Operations [Member]
Operations of the Company's operating segments
Net Sales to External Customers	86,449	91,621
Revenue Transactions With Other Operating Segments	43,505	35,544
Total net sales	129,954	127,165
Segment profit	33,236	31,796
Goodwill	744	738
Other Operations [Member]
Operations of the Company's operating segments
Net Sales to External Customers	97,732	101,433
Revenue Transactions With Other Operating Segments	1,357	1,135
Total net sales	99,089	102,568
Segment profit	8,982	9,159
Goodwill	13,160	14,795
Intersegment Elimination [Member]
Operations of the Company's operating segments
Net Sales to External Customers	0	0
Revenue Transactions With Other Operating Segments	(190,298)	(195,117)
Total net sales	(190,298)	(195,117)
Segment profit	(26,049)	(24,743)
Goodwill	$ 0	$ 0

XML

Financial Instruments (Details)	3 Months Ended				3 Months Ended				3 Months Ended
	Mar. 31, 2015 USD ($)	Mar. 31, 2014 USD ($)	Mar. 31, 2015 Not Designated as Hedging Instrument [Member] USD ($)	Dec. 31, 2014 Not Designated as Hedging Instrument [Member] USD ($)	Mar. 31, 2015 Foreign Exchange Forward [Member] Designated as Hedging Instrument [Member] USD ($)	Mar. 31, 2014 Foreign Exchange Forward [Member] Designated as Hedging Instrument [Member] USD ($)	Dec. 31, 2014 Foreign Exchange Forward [Member] Designated as Hedging Instrument [Member] USD ($)	Dec. 31, 2014 Foreign Exchange Forward [Member] Designated as Hedging Instrument [Member] EUR (€)	Mar. 31, 2015 3.24% $100 Million Interest Rate Swap [Member] Designated as Hedging Instrument [Member] USD ($)	Mar. 31, 2014 3.24% $100 Million Interest Rate Swap [Member] Designated as Hedging Instrument [Member] USD ($)	Mar. 31, 2015 2.52% $50 Million Interest Rate Swap [Member] Designated as Hedging Instrument [Member] USD ($)	Mar. 31, 2015 2.25% $100 Million Interest Rate Swap [Member] Designated as Hedging Instrument [Member] USD ($)	Mar. 31, 2015 Derivative Maturing in 2015 [Member] Foreign Exchange Forward [Member] Designated as Hedging Instrument [Member] USD ($)	Mar. 31, 2015 Derivative Maturing in 2015 [Member] Foreign Exchange Forward [Member] Designated as Hedging Instrument [Member] EUR (€)	Mar. 31, 2015 Maturing in 2016 [Member] Foreign Exchange Forward [Member] Designated as Hedging Instrument [Member] USD ($)	Mar. 31, 2015 Maturing in 2016 [Member] Foreign Exchange Forward [Member] Designated as Hedging Instrument [Member] EUR (€)
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative, Notional Amount			$ 286,900,000	$ 325,400,000			$ 87,000,000						$ 72,600,000		$ 72,400,000
Notional Value Local Currency								71,500,000						66,700,000		66,500,000
Line Of Credit Facility Forecasted Borrowing Amount									100,000,000		50,000,000	100,000,000
Unrealized Gain (Loss) on Foreign Currency Derivatives, Net, before Tax					22,800,000	300,000
Derivative, Fixed Interest Rate									3.24%		2.52%	2.25%
Cash Flow Hedge Gain (Loss) to be Reclassified within Twelve Months			9,000,000
Gain (Loss) on Interest Rate Cash Flow Hedge Ineffectiveness					0	0			0	0
Gain (Loss) on Foreign Currency Derivative Instruments Not Designated as Hedging Instruments	$ (9,300,000)	$ (200,000)

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Accumulated Other Comprehensive Income (Tables)

3 Months Ended

Mar. 31, 2015

Accumulated Other Comprehensive Income [Abstract]

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

The following table presents changes in accumulated other comprehensive income by component for the periods ended March 31, 2015 and 2014:

	Currency Translation Adjustment			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, 2014	$	(4,960	)	$	(1,944	)	$	(206,045	)	$	(212,949	)
Other comprehensive income (loss), net of tax:
Unrealized gains (losses) cash flow hedging arrangements	—			18,359			—			18,359
Foreign currency translation adjustment	(25,941		)	(1,547		)	2,337			(25,151		)
Amounts recognized from accumulated other comprehensive income (loss), net of tax	—			(1,987		)	2,523			536
Net change in other comprehensive income (loss), net of tax	(25,941		)	14,825			4,860			(6,256		)
Balance at March 31, 2015	$	(30,901	)	$	12,881		$	(201,185	)	$	(219,205	)

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

Disclosure of Reclassification Amount [Text Block]

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

	2015			2014
	Amount Recognized From Accumulated Other Comprehensive Income (Loss)						Location of Amounts Recognized in Earnings
Effective portion of (gains) losses on cash flow hedging arrangements:
Interest rate swap agreements	$	765		$	768		Interest expense
Foreign currency forward contracts	(3,091		)	(41		)	Cost of sales - products
Total before taxes	(2,326		)	727
Provision for taxes	(339		)	287			Provision for taxes
Total, net of taxes	$	(1,987	)	$	440
Recognition of defined benefit pension and post-retirement items:
Recognition of actuarial (gains) losses, plan amendments and prior service cost, before taxes	$	3,441		$	712		(a)
Provision for taxes	918			316			Provision for taxes
Total, net of taxes	$	2,523		$	396

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

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

	March 31, 2015			March 31, 2014
Net earnings	$	63,051		$	58,051
Other comprehensive income (loss), net of tax	(6,256		)	$	1,853
Comprehensive income (loss), net of tax	$	56,795		$	59,904

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Earnings Per Common Share (Details)	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Weighted Average Number Diluted Shares Outstanding Adjustment [Abstract]
Weighted Average Number of Shares Outstanding, Diluted, Total	647,715	718,013
Antidilutive Shares Outstanding
Weighted Average Number of Shares Outstanding, Antidilutive, Total	198,508	147,159

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Debt (Details) In Thousands, unless otherwise specified					3 Months Ended			3 Months Ended			3 Months Ended			3 Months Ended
	Mar. 31, 2015 USD ($)	Dec. 31, 2014 USD ($)	Mar. 31, 2015 US Dollar Amounts [Member] USD ($)	Mar. 31, 2015 Other Principal Trading Currencies [Member] USD ($)	Mar. 31, 2015 6.3% Senior Notes [Member] USD ($)	Mar. 31, 2015 6.3% Senior Notes [Member] US Dollar Amounts [Member] USD ($)	Mar. 31, 2015 6.3% Senior Notes [Member] Other Principal Trading Currencies [Member] USD ($)	Mar. 31, 2015 3.67 Percent Senior Notes [Member] USD ($)	Mar. 31, 2015 3.67 Percent Senior Notes [Member] US Dollar Amounts [Member] USD ($)	Mar. 31, 2015 3.67 Percent Senior Notes [Member] Other Principal Trading Currencies [Member] USD ($)	Mar. 31, 2015 4.10% Senior Notes [Member] USD ($)	Mar. 31, 2015 4.10% Senior Notes [Member] US Dollar Amounts [Member] USD ($)	Mar. 31, 2015 4.10% Senior Notes [Member] Other Principal Trading Currencies [Member] USD ($)	Mar. 31, 2015 3.84% Senior Notes [Member] USD ($)	Mar. 31, 2015 3.84% Senior Notes [Member] US Dollar Amounts [Member] USD ($)	Mar. 31, 2015 3.84% Senior Notes [Member] Other Principal Trading Currencies [Member] USD ($)	Mar. 31, 2015 $ 800 Million Credit Agreement [Member] USD ($)	Mar. 31, 2015 $ 800 Million Credit Agreement [Member] US Dollar Amounts [Member] USD ($)	Mar. 31, 2015 $ 800 Million Credit Agreement [Member] Other Principal Trading Currencies [Member] USD ($)	Mar. 31, 2015 Other Local Arrangements [Member] USD ($)	Mar. 31, 2015 Other Local Arrangements [Member] US Dollar Amounts [Member] USD ($)	Mar. 31, 2015 Other Local Arrangements [Member] Other Principal Trading Currencies [Member] USD ($)	Mar. 31, 2015 1.47% EURO Senior Notes [Member] EUR (€)
Debt Instrument [Line Items]
Senior Notes					$ 100,000	$ 100,000	$ 0	$ 50,000	$ 50,000	$ 0	$ 50,000	$ 50,000	$ 0	$ 125,000	$ 125,000	$ 0
Line of Credit Facility, Amount Outstanding																	184,179	173,170	11,009
Other Borrowings																				14,693	0	14,693
Long-Term Debt, by Current and Noncurrent, and Short-Term Debt
Total debt	523,872		498,170	25,702
Less: current portion	(114,693)	(116,164)	(100,000)	(14,693)
Long-Term Debt
Long-term debt	409,179	335,790	398,170	11,009
Debt Instrument, Face Amount					100,000			50,000			50,000			125									125,000
Debt Instrument, Maturity Date					Jun. 25, 2015			Dec. 17, 2022			Sep. 19, 2023			Sep. 19, 2024
Debt Instrument, Interest Rate, Stated Percentage					6.30%			3.67%			4.10%			3.84%									1.47%
Line of Credit Facility, Remaining Borrowing Capacity																	$ 611,381

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Segment Reporting (Details 1) (USD $) In Thousands, unless otherwise specified	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Reconciliation of earnings before taxes to segment profit
Earnings before taxes	$ 82,963	$ 76,384
Amortization	7,528	7,094
Interest Expense	6,725	5,666
Restructuring Charges	907	1,492
Other charges (income), net	(817)	317
Segment Profit Information	$ 97,306	$ 90,953

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Financial Instruments

3 Months Ended

Mar. 31, 2015

Derivative Instruments and Hedging Activities Disclosure [Abstract]

FINANCIAL INSTRUMENTS

FINANCIAL INSTRUMENTS

The Company has limited involvement with derivative financial instruments and does not use them for trading purposes. 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. As also mentioned in Note 6, the Company will designate its euro denominated debt as a hedge of a portion of its net investment in euro-denominated foreign operations. For additional disclosures on the fair value of financial instruments, also see Note 4 to the interim consolidated financial statements.

Cash Flow Hedges

In July 2012, the Company began entering into foreign currency forward contracts, designated as cash flow hedges, to hedge certain forecasted intercompany sales denominated in euro with its Swiss-based business. The notional amount of foreign currency forward contracts outstanding at March 31, 2015 were $72.6 million (Euro 66.7 million) for contracts that mature in 2015 and $72.4 million (Euro 66.5 million) for contracts that mature in 2016. The notional amount of foreign currency forward contracts outstanding at December 31, 2014 was $87 million (Euro 71.5 million) for contracts that mature in 2015. The amount recognized in other comprehensive income (loss) during the three months period ended March 31, 2015 and 2014 was a gain of $22.8 million and a gain of $0.3 million, respectively.

The Company has an interest rate swap agreement designated as a cash flow hedge. The agreement is a swap which has the effect of changing the floating rate LIBOR-based interest payments associated with $100 million in forecasted borrowings under the Company’s credit facility to a fixed obligation of 3.24%. The swap began in October 2010 and matures in October 2015.

In June 2013, the Company entered into a forward-starting interest rate swap agreement, designated as a cash flow hedge. The agreement will change the floating rate LIBOR-based interest payments associated with $50 million in forecasted borrowings under the Company's credit agreement to a fixed obligation of 2.52% beginning in October 2015.

In March 2015, the Company entered into a forward-starting interest rate swap agreement. The agreement will change the floating rate LIBOR-based interest payments associated with $100 million in forecasted borrowings under the Company's credit agreement to a fixed obligation of 2.25% beginning in February 2017.

The Company's cash flow hedges are recorded gross at fair value in the consolidated balance sheet at March 31, 2015 and December 31, 2014, respectively, and disclosed in Note 5 to the consolidated financial statements. Amounts reclassified into other comprehensive income and the effective portions of the cash flow hedges are further disclosed in Note 8 to the consolidated financial statements. A derivative gain of $9.0 million based upon interest rates and foreign currency rates at March 31, 2015, is expected to be reclassified from other comprehensive income (loss) to earnings in the next 12 months. Through March 31, 2015, no hedge ineffectiveness has occurred in relation to the cash flow hedges.

Other Derivatives

The Company enters into foreign currency forward contracts in order to economically hedge short-term trade and non-trade intercompany balances largely denominated in Swiss franc, other major European currencies, and the Chinese Renminbi 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 are recorded at fair value in the consolidated balance sheet at March 31, 2015 and December 31, 2014, respectively, disclosed in Note 4 to the consolidated financial statements. The Company recognized in other charges (income), a net loss of $9.3 million and $0.2 million during the three months ended March 31, 2015 and 2014, respectively, which was primarily offset by the underlying transaction gains on the related intercompany balances. At March 31, 2015 and December 31, 2014, these contracts had a notional value of $286.9 million and $325.4 million, respectively.

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Net Periodic Benefit Cost (Details) (USD $) In Thousands, unless otherwise specified	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Components of Net periodic pension cost for the Company's defined benefit pension plans and U.S. post-retirement medical plan
Service cost, net	$ 4,954	$ 4,228
Interest cost on projected benefit obligations	5,197	7,142
Expected return on plan assets	(11,693)	(11,681)
Net amortization and deferral	(1,442)	(1,235)
Recognition of actuarial losses/(gains)	4,883	1,947
Net periodic pension cost/(credit)	1,899	401
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	209	223
Interest cost on projected benefit obligations	1,608	1,599
Expected return on plan assets	(2,394)	(2,137)
Net amortization and deferral	0	0
Recognition of actuarial losses/(gains)	1,907	1,200
Net periodic pension cost/(credit)	1,330	885
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	4,745	3,962
Interest cost on projected benefit obligations	3,554	5,483
Expected return on plan assets	(9,299)	(9,544)
Net amortization and deferral	(973)	(1,040)
Recognition of actuarial losses/(gains)	3,819	1,106
Net periodic pension cost/(credit)	1,846	(33)
Net Periodic Benefit Cost (Textuals) [Abstract]
Defined Benefit Plan, Estimated Future Employer Contributions in Current Fiscal Year	19,600
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	0	43
Interest cost on projected benefit obligations	35	60
Expected return on plan assets	0	0
Net amortization and deferral	(469)	(195)
Recognition of actuarial losses/(gains)	(843)	(359)
Net periodic pension cost/(credit)	(1,277)	(451)
Net Periodic Benefit Cost (Textuals) [Abstract]
Defined Benefit Plan, Estimated Future Employer Contributions in Current Fiscal Year	$ 700

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Segment Reporting (Tables)

3 Months Ended

Mar. 31, 2015

Segment Reporting [Abstract]

Operations of the Company's operating segments

The following tables show the operations of the Company’s operating segments:

	Net Sales to		Net Sales to
For the three months ended	External		Other			Total Net			Segment
March 31, 2015	Customers		Segments			Sales			Profit			Goodwill
U.S. Operations	$	178,220	$	18,292		$	196,512		$	24,226		$	308,863
Swiss Operations	31,224		99,783			131,007			36,570			22,507
Western European Operations	142,076		27,361			169,437			20,341			92,430
Chinese Operations	86,449		43,505			129,954			33,236			744
Other (a)	97,732		1,357			99,089			8,982			13,160
Eliminations and Corporate (b)	—		(190,298		)	(190,298		)	(26,049		)	—
Total	$	535,701	$	—		$	535,701		$	97,306		$	437,704

	Net Sales to		Net Sales to
For the three months ended	External		Other			Total Net			Segment
March 31, 2014	Customers		Segments			Sales			Profit (c)			Goodwill
U.S. Operations	$	163,994	$	20,775		$	184,769		$	21,637		$	307,933
Swiss Operations	33,006		108,225			141,231			32,228			24,420
Western European Operations	160,567		29,438			190,005			20,876			109,056
Chinese Operations	91,621		35,544			127,165			31,796			738
Other (a)	101,433		1,135			102,568			9,159			14,795
Eliminations and Corporate (b)	—		(195,117		)	(195,117		)	(24,743		)	—
Total	$	550,621	$	—		$	550,621		$	90,953		$	456,942

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

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

Reconciliation of earnings before taxes to segment profit

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

	Three Months Ended
	March 31, 2015			March 31, 2014
Earnings before taxes	$	82,963		$	76,384
Amortization	7,528			7,094
Interest expense	6,725			5,666
Restructuring charges	907			1,492
Other charges (income), net	(817		)	317
Segment profit	$	97,306		$	90,953

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Restructuring Charges (Tables)

3 Months Ended

Mar. 31, 2015

Restructuring and Related Activities [Abstract]

Company's accrual for restructuring activities

A rollforward of the Company’s accrual for restructuring activities for the three months ended March 31, 2015 is as follows:

	Total
Balance at December 31, 2014	8,436
Restructuring charges	907
Cash payments / utilization	(806	)
Impact of foreign currency	(625	)
Balance at March 31, 2015	7,912

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Restructuring Charges (Details) (USD $) In Thousands, unless otherwise specified	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Company's accrual for restructuring activities:-
Beginning Restructuring Accrual Balance, as of December 31, 2014	$ 8,436
Restructuring Charges	907	1,492
Restructuring Cash Payments	(806)
Impact of foreign currency on restructuring reserve	(625)
Ending Restructuring Accrual Balance, as of March 31, 2015	$ 7,912

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Summary of Significant Accounting Policies (Details) (USD $) In Thousands, unless otherwise specified	Mar. 31, 2015	Dec. 31, 2014
Components of inventory
Raw materials and parts	$ 100,936	$ 97,969
Work-in-progress	43,144	34,973
Finished goods	74,583	71,589
Total Inventory, Net	$ 218,663	$ 204,531

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Summary of Significant Accounting Policies (Details 1) (USD $) In Thousands, unless otherwise specified	Mar. 31, 2015	Dec. 31, 2014
Intangible Assets [Line Items]
Finite and Indefinite-Lived Intangible Assets, Gross, Total	$ 172,988	$ 174,573
Total Accumulated Amortization	(62,512)	(61,789)
Intangible Assets, Net (Excluding Goodwill)	110,476	112,784
Tradename (indefinite life) [Member]
Intangible Assets [Line Items]
Gross amount, Tradename (indefinite life)	24,810	24,947
Intangible Assets, Net (Excluding Goodwill)	24,810	24,947
Customer Relationships [Member]
Intangible Assets [Line Items]
Gross amount	96,967	98,325
Accumulated Amortization	(28,258)	(28,159)
Intangible Assets, Net (Excluding Goodwill)	68,709	70,166
Proven technology and patents [Member]
Intangible Assets [Line Items]
Gross amount	45,546	45,588
Accumulated Amortization	(31,127)	(30,761)
Intangible Assets, Net (Excluding Goodwill)	14,419	14,827
Tradename (finite life) [Member]
Intangible Assets [Line Items]
Gross amount	4,115	4,140
Accumulated Amortization	(1,953)	(1,786)
Intangible Assets, Net (Excluding Goodwill)	2,162	2,354
Other Intangible Assets [Member]
Intangible Assets [Line Items]
Gross amount	1,550	1,573
Accumulated Amortization	(1,174)	(1,083)
Intangible Assets, Net (Excluding Goodwill)	$ 376	$ 490

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Summary of Significant Accounting Policies

3 Months Ended

Mar. 31, 2015

Accounting Policies [Abstract]

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Trade Accounts Receivable

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

Inventories

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

Inventories consisted of the following:

	March 31, 2015		December 31, 2014
Raw materials and parts	$	100,936	$	97,969
Work-in-progress	43,144		34,973
Finished goods	74,583		71,589
	$	218,663	$	204,531

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

Other intangible assets consisted of the following:

	March 31, 2015							December 31, 2014
	Gross Amount		Accumulated Amortization			Intangibles, Net		Gross Amount		Accumulated Amortization			Intangibles, Net
Customer relationships	$	96,967	$	(28,258	)	$	68,709	$	98,325	$	(28,159	)	$	70,166
Proven technology and patents	45,546		(31,127		)	14,419		45,588		(30,761		)	14,827
Tradename (finite life)	4,115		(1,953		)	2,162		4,140		(1,786		)	2,354
Tradename (indefinite life)	24,810		—			24,810		24,947		—			24,947
Other	1,550		(1,174		)	376		1,573		(1,083		)	490
	$	172,988	$	(62,512	)	$	110,476	$	174,573	$	(61,789	)	$	112,784

The Company recognized amortization expense associated with the above intangible assets of $1.6 million for both the three months ended March 31, 2015 and 2014, respectively. The annual aggregate amortization expense based on the current balance of other intangible assets is estimated at $6.0 million for 2015, $5.6 million for 2016, $5.3 million for 2017, $5.0 million for 2018, $4.7 million for 2019 and $4.5 million for 2020. Purchased intangible amortization was $1.5 million, $1.0 million after tax and $1.3 million, $0.9 million after tax for the three months ended March 31, 2015 and 2014.

In addition to the above amortization, the Company recorded amortization expense associated with capitalized software of $5.9 million and $5.5 million for the three months ended March 31, 2015 and 2014, 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.

Employee Termination Benefits

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

Share-Based Compensation

The Company recognizes share-based compensation expense within selling, general and administrative in the consolidated statements of operations and comprehensive income with a corresponding offset to additional paid-in capital in the consolidated balance sheet. The Company recorded $3.5 million and $3.2 million of share-based compensation expense for the three months ended March 31, 2015 and 2014, respectively.

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 Textuals) (USD $) In Millions, unless otherwise specified	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Summary of Significant Accounting Policies (Textuals) [Abstract]
Amortization expense	$ 1.6	$ 1.6
Future Amortization Expense Current Year	6.0
Aggregate amortization expense for 2016	5.6
Aggregate amortization expense for 2017	5.3
Aggregate amortization expense for 2018	5.0
Aggregate amortization expense for 2019	4.7
Aggregate amortization expense for 2020	4.5
Purchased Intangible Amortization, Gross	1.5	1.3
Purchased intangible amortization, net of tax	1.0	0.9
Amortization expense associated with capitalized software	5.9	5.5
Standard Warranty Period	one
Share - based compensation expense	$ 3.5	$ 3.2

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Accumulated Other Comprehensive Income Details 1 (Details) (USD $) In Thousands, unless otherwise specified	3 Months Ended		12 Months Ended
	Mar. 31, 2015	Mar. 31, 2014	Dec. 31, 2014
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items]
Interest Expense	$ 6,725	$ 5,666
Cost of Goods Sold	164,666	181,450
Income Tax Expense (Benefit)	19,912	18,333
Net Income (Loss) Attributable to Parent	63,051	58,051	338,241
Net Unrealized Gain (Loss) on Cash Flow Hedging Arrangements, Net Of Tax [Member]
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items]
Interest Expense	765	768
Cost of Goods Sold	(3,091)	(41)
Income (Loss) from Continuing Operations before Income Taxes, Extraordinary Items, Noncontrolling Interest	(2,326)	727
Income Tax Expense (Benefit)	(339)	287
Net Income (Loss) Attributable to Parent	(1,987)	440
Accumulated Defined Benefit Plans Adjustment [Member]
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items]
Other Comprehensive (Income) Loss, Pension and Other Postretirement Benefit Plans, Adjustment, before Tax, Portion Attributable to Parent	3,441	712
Income Tax Expense (Benefit)	918	316
Net Income (Loss) Attributable to Parent	$ (2,523)	$ (396)

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Interim Consolidated Statements of Operations (Unaudited) (USD $) In Thousands, except Share data, unless otherwise specified	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Net sales
Products	$ 412,904	$ 422,148
Service	122,797	128,473
Total net sales	535,701	550,621
Cost of sales
Products	164,666	181,450
Service	72,230	76,530
Gross profit	298,805	292,641
Research and development	28,461	29,497
Selling, general and administrative	173,038	172,191
Amortization	7,528	7,094
Interest Expense	6,725	5,666
Restructuring Charges	907	1,492
Other charges (income), net	(817)	317
Earnings before taxes	82,963	76,384
Provision for taxes	19,912	18,333
Net Income (Loss) Attributable to Parent	63,051	58,051
Basic earnings per common share:
Net earnings	$ 2.24	$ 1.98
Weighted average number of common shares	28,115,220	29,370,232
Diluted earnings per common share:
Net earnings	$ 2.19	$ 1.93
Weighted average number of common and common equivalent shares	28,762,935	30,088,245
Comprehensive Income (Loss), Net of Tax, Attributable to Parent	$ 56,795	$ 59,904

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Restructuring Charges Restructuring Charges (textuals) (Details) (USD $) In Thousands, unless otherwise specified	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Restructuring Charges [Abstract]
Restructuring Charges	$ 907	$ 1,492

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Interim Consolidated Statements of Cash Flows (Unaudited) (USD $) In Thousands, unless otherwise specified	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Cash flows from operating activities:
Net Income (Loss) Attributable to Parent	$ 63,051	$ 58,051
Adjustments to reconcile net earnings to net cash provided by operating activities:
Depreciation	8,301	8,420
Amortization	7,528	7,094
Deferred tax benefit	(1,670)	(695)
Excess tax benefits from share-based payment arrangements	(441)	(4,495)
Share-based compensation	3,496	3,201
Other	(16)	37
Increase (decrease) in cash resulting from changes in:
Trade accounts receivable, net	38,179	41,500
Inventories	(17,703)	(13,543)
Other current assets	183	511
Trade accounts payable	(13,927)	(26,550)
Taxes payable	(2,685)	(10,436)
Accruals and other	(25,700)	(20,250)
Net cash provided by operating activities	58,596	42,845
Cash flows from investing activities:
Proceeds from sale of property, plant and equipment	42	189
Purchase of property, plant and equipment	(18,539)	(16,716)
Payments to Acquire Businesses, Net of Cash Acquired	(200)	(391)
Payments for (Proceeds from) Derivative Instrument, Investing Activities	(8,384)	(235)
Net cash used in investing activities	(27,081)	(17,153)
Cash flows from financing activities:
Proceeds from borrowings	150,996	145,879
Repayments of borrowings	(77,486)	(93,229)
Proceeds from stock option exercises	9,546	3,450
Repurchases of common stock	(123,745)	(82,498)
Excess tax benefits from share - based payment arrangements	441	4,495
Net cash used in financing activities	(40,248)	(21,903)
Effect of exchange rate changes on cash and cash equivalents	(1,171)	141
Net (decrease) increase in cash and cash equivalents	(9,904)	3,930
Cash and cash equivalents:
Beginning of period	85,263	111,874
End of period	$ 75,359	$ 115,804

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Fair Value Measurements (Details Textuals) (USD $)	Mar. 31, 2015	Dec. 31, 2014
Derivative Assets	$ 23,300,000	$ 2,200,000
Derivative Liabilities	7,400,000	5,600,000
Cash Equivalents	12,200,000	14,200,000
Change in Carrying Value Verse Fair Value of Long Term Debt	14,200,000	17,800,000
Fair Value, Measurements, Recurring [Member]
Cash Equivalents	$ 12,167,000	$ 14,188,000

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Summary of Significant Accounting Policies (Tables)

3 Months Ended

Mar. 31, 2015

Accounting Policies [Abstract]

Components of inventories

Inventories consisted of the following:

	March 31, 2015		December 31, 2014
Raw materials and parts	$	100,936	$	97,969
Work-in-progress	43,144		34,973
Finished goods	74,583		71,589
	$	218,663	$	204,531

Components of other intangible assets

Other intangible assets consisted of the following:

	March 31, 2015							December 31, 2014
	Gross Amount		Accumulated Amortization			Intangibles, Net		Gross Amount		Accumulated Amortization			Intangibles, Net
Customer relationships	$	96,967	$	(28,258	)	$	68,709	$	98,325	$	(28,159	)	$	70,166
Proven technology and patents	45,546		(31,127		)	14,419		45,588		(30,761		)	14,827
Tradename (finite life)	4,115		(1,953		)	2,162		4,140		(1,786		)	2,354
Tradename (indefinite life)	24,810		—			24,810		24,947		—			24,947
Other	1,550		(1,174		)	376		1,573		(1,083		)	490
	$	172,988	$	(62,512	)	$	110,476	$	174,573	$	(61,789	)	$	112,784

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Income Taxes (Details)	3 Months Ended
	Mar. 31, 2015
Effective Income Tax Rate, Continuing Operations	24.00%

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Debt (Tables)

3 Months Ended

Mar. 31, 2015

Debt Disclosure [Abstract]

Debt

Debt consisted of the following at March 31, 2015:

	March 31, 2015
	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
3.84% $125 million Senior Notes due September 19, 2024	125,000			—			125,000
$800 million Credit Agreement, interest at LIBOR plus 75 basis points	173,170			11,009			184,179
Other local arrangements	—			14,693			14,693
Total debt	498,170			25,702			523,872
Less: current portion	(100,000		)	(14,693		)	(114,693		)
Total long-term debt	$	398,170		$	11,009		$	409,179

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Basis of Presentation

3 Months Ended

Mar. 31, 2015

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 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, 2014.

The accompanying interim consolidated financial statements reflect all adjustments which, in the opinion of management, are necessary for a fair statement of the results of the interim periods presented. Operating results for the three months ended March 31, 2015 are not necessarily indicative of the results to be expected for the full year ending December 31, 2015.

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, 2014.

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	Mar. 31, 2015	Dec. 31, 2014
Current assets:
Cash and cash equivalents	$ 75,359	$ 85,263
Trade accounts receivable, less allowances of $15,190 at March 31, 2015 and $15,961 at December 31, 2014	382,385	435,648
Inventories	218,663	204,531
Current deferred tax assets, net	62,802	62,341
Other current assets and prepaid expenses	75,641	61,647
Total current assets	814,850	849,430
Property, plant and equipment, net	510,518	511,462
Goodwill	437,704	444,085
Other intangible assets, net	110,476	112,784
Non-current deferred tax assets, net	26,625	30,273
Other non-current assets	75,492	61,076
Total assets	1,975,665	2,009,110
Current liabilities:
Trade accounts payable	131,667	145,896
Accrued and other liabilities	123,341	120,530
Accrued compensation and related items	89,274	136,107
Deferred revenue and customer prepayments	98,369	82,219
Taxes payable	57,084	59,297
Current deferred tax liabilities	23,275	18,677
Short-term borrowings and current maturities of long-term debt	114,693	116,164
Total current liabilities	637,703	678,890
Long-term debt	409,179	335,790
Non-current deferred tax liabilities	60,636	56,727
Other non-current liabilities	202,019	218,108
Total liabilities	1,309,537	1,289,515
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 27,967,560 and 28,243,007 shares at March 31, 2015 and December 31, 2014, respectively	448	448
Additional paid-in capital	674,355	670,418
Treasury stock at cost (16,818,451 shares at March 31, 2015 and 16,543,004 shares at December 31, 2014)	(2,205,272)	(2,095,656)
Retained earnings	2,415,802	2,357,334
Accumulated Other Comprehensive Income (Loss), Net of Tax	(219,205)	(212,949)
Total shareholders' equity	666,128	719,595
Total liabilities and shareholders' equity	$ 1,975,665	$ 2,009,110

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Restructuring Charges

3 Months Ended

Mar. 31, 2015

Restructuring and Related Activities [Abstract]

RESTRUCTURING CHARGES

RESTRUCTURING CHARGES

For the three months ending March 31, 2015, the Company incurred $0.9 million of restructuring expenses which primarily comprise 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 three months ended March 31, 2015 is as follows:

	Total
Balance at December 31, 2014	8,436
Restructuring charges	907
Cash payments / utilization	(806	)
Impact of foreign currency	(625	)
Balance at March 31, 2015	7,912

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Document and Entity Information (USD $) Share data in Thousands, unless otherwise specified	3 Months Ended
	Mar. 31, 2015	Jun. 30, 2014
Entity Information [Line Items]
Entity Registrant Name	METTLER TOLEDO INTERNATIONAL INC/
Entity Central Index Key	0001037646
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Document Type	10-Q
Document Period End Date	Mar. 31, 2015
Document Fiscal Year Focus	2015
Document Fiscal Period Focus	Q1
Amendment Flag	false
Entity Common Stock, Shares Outstanding	27,968
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

3 Months Ended

Mar. 31, 2015

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 hedging activity, and other items.

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Interim Consolidated Balance Sheets (Unaudited) (Parenthetical) (USD $) In Thousands, except Share data, unless otherwise specified	Mar. 31, 2015	Dec. 31, 2014
Current assets:
Allowance for Doubtful Accounts Receivable, Current	$ 15,190	$ 15,961
Shareholders' equity:
Preferred stock, par value	$ 0.01	$ 0.01
Preferred Stock, Shares Authorized	10,000,000	10,000,000
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	125,000,000	125,000,000
Common stock, shares issued	44,786,011	44,786,011
Common stock, shares outstanding	27,967,560	28,243,007
Treasury stock, shares	16,818,451	16,543,004

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Debt

3 Months Ended

Mar. 31, 2015

Debt Disclosure [Abstract]

DEBT

DEBT

Debt consisted of the following at March 31, 2015:

	March 31, 2015
	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
3.84% $125 million Senior Notes due September 19, 2024	125,000			—			125,000
$800 million Credit Agreement, interest at LIBOR plus 75 basis points	173,170			11,009			184,179
Other local arrangements	—			14,693			14,693
Total debt	498,170			25,702			523,872
Less: current portion	(100,000		)	(14,693		)	(114,693		)
Total long-term debt	$	398,170		$	11,009		$	409,179

As of March 31, 2015, the Company had $611.4 million of availability remaining under the credit agreement.

In March 2015, the Company entered into an agreement to issue and sell Euro 125 million of fifteen-year Senior Notes in a private placement. The Company will issue the Euro 125 million with a fixed interest rate of 1.47% ("1.47% Senior Notes") in June 2015. The Senior Notes are senior unsecured obligations of the Company and will mature in June 2030. The Company will designate the 1.47% Senior Notes as a hedge of a portion of its net investment in euro-denominated foreign subsidiaries to reduce foreign currency risk associated with the net investment in these operations. Changes in the value of this debt resulting from fluctuations in the euro to U.S. dollar exchange rate will be recorded as foreign currency translation adjustments within other comprehensive income (loss).

Interest on the 1.47% Senior Notes is payable 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, at a price equal to 100% of the principal amount thereof plus accrued and unpaid interest, plus in some instances, a "make-whole" prepayment premium and a swap related currency loss.

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

3 Months Ended

Mar. 31, 2015

Income Tax Disclosure [Abstract]

INCOME TAXES

INCOME TAXES

The provision for taxes is based upon using the Company's projected annual effective tax rate of 24% for each of the three month periods ended March 31, 2015 and 2014.

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Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2015

Fair Value Disclosures [Abstract]

Assets and liabilities measured at fair value on a recurring basis

The following table presents for each of these hierarchy levels, the Company’s assets and liabilities that are measured at fair value on a recurring basis at March 31, 2015 and December 31, 2014:

	March 31, 2015								December 31, 2014
	Total		Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3
Assets:
Cash equivalents	$	12,167	$	—	$	12,167	$	—	$	14,188	$	—	$	14,188	$	—
Foreign currency forward contracts designated as cash flow hedge	20,293		—		20,293		—		567		—		567		—
Foreign currency forward contracts not designated as hedging instruments	3,037		—		3,037		—		1,611		—		1,611		—
Total	$	35,497	$	—	$	35,497	$	—	$	16,366	$	—	$	16,366	$	—
Liabilities:
Interest rate swap agreements	$	5,162	$	—	$	5,162	$	—	$	3,768	$	—	$	3,768	$	—
Foreign currency forward contracts not designated as hedging instruments	2,197		—		2,197		—		1,799		—		1,799		—
Total	$	7,359	$	—	$	7,359	$	—	$	5,567	$	—	$	5,567	$	—

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Segment Reporting

3 Months Ended

Mar. 31, 2015

Segment Reporting [Abstract]

SEGMENT REPORTING

SEGMENT REPORTING

As disclosed in Note 16 to the Company's consolidated financial statements for the year ending December 31, 2014, the Company has determined there are five reportable segments:  U.S. Operations, Swiss Operations, Western European Operations, Chinese Operations and Other.

The Company evaluates segment performance based on Segment Profit (gross profit less research and development and selling, general and administrative expenses, before amortization, interest expense, restructuring charges, other charges (income), net and taxes).

The following tables show the operations of the Company’s operating segments:

	Net Sales to		Net Sales to
For the three months ended	External		Other			Total Net			Segment
March 31, 2015	Customers		Segments			Sales			Profit			Goodwill
U.S. Operations	$	178,220	$	18,292		$	196,512		$	24,226		$	308,863
Swiss Operations	31,224		99,783			131,007			36,570			22,507
Western European Operations	142,076		27,361			169,437			20,341			92,430
Chinese Operations	86,449		43,505			129,954			33,236			744
Other (a)	97,732		1,357			99,089			8,982			13,160
Eliminations and Corporate (b)	—		(190,298		)	(190,298		)	(26,049		)	—
Total	$	535,701	$	—		$	535,701		$	97,306		$	437,704

	Net Sales to		Net Sales to
For the three months ended	External		Other			Total Net			Segment
March 31, 2014	Customers		Segments			Sales			Profit (c)			Goodwill
U.S. Operations	$	163,994	$	20,775		$	184,769		$	21,637		$	307,933
Swiss Operations	33,006		108,225			141,231			32,228			24,420
Western European Operations	160,567		29,438			190,005			20,876			109,056
Chinese Operations	91,621		35,544			127,165			31,796			738
Other (a)	101,433		1,135			102,568			9,159			14,795
Eliminations and Corporate (b)	—		(195,117		)	(195,117		)	(24,743		)	—
Total	$	550,621	$	—		$	550,621		$	90,953		$	456,942

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

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

(c) 2014 Segment profit for the U.S., Swiss, and China operations has been reclassified to conform to current period presentation related to certain inter-segment transactions.

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

	Three Months Ended
	March 31, 2015			March 31, 2014
Earnings before taxes	$	82,963		$	76,384
Amortization	7,528			7,094
Interest expense	6,725			5,666
Restructuring charges	907			1,492
Other charges (income), net	(817		)	317
Segment profit	$	97,306		$	90,953

During the three months ended March 31, 2015, restructuring charges of $0.9 million were recognized, of which $0.7 million, $0.1 million and $0.3 million related to the Company's Swiss, Chinese and Other operations, respectively offset by a credit of $0.2 million related to the Company’s Western operations. Restructuring charges of $1.5 million were recognized during the three months ended March 31, 2014, of which $0.6 million, $0.3 million, $0.1 million, $0.2 million, and $0.3 million related to the Company’s U.S., Swiss, Western European, China and Other operations, respectively.

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Earnings Per Common Share

3 Months Ended

Mar. 31, 2015

Earnings Per Share [Abstract]

EARNINGS PER COMMON SHARE

EARNINGS PER COMMON SHARE

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

	2015	2014
Three months ended	647,715	718,013

Outstanding options and restricted stock units to purchase or receive 198,508 and 147,159 shares of common stock for the three months ended March 31, 2015 and 2014, 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

3 Months Ended

Mar. 31, 2015

Share Repurchase Program and Treasury Stock [Abstract]

Treasury Stock [Text Block]

SHARE REPURCHASE PROGRAM AND TREASURY STOCK

The Company has a $3 billion share repurchase program, of which there were $354.6 million of remaining common shares authorized to be repurchased under the program. 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 23.5 million shares since the inception of the program through March 31, 2015. During the three months ended March 31, 2015 and 2014, the Company spent $123.7 million and $82.5 million on the repurchase of 400,845 shares and 336,188 shares at an average price per share of $308.69 and $245.37, respectively. The Company reissued 125,398 shares and 69,442 shares held in treasury for the exercise of stock options and restricted stock units during the three months ended March 31, 2015 and 2014, respectively.

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Accumulated Other Comprehensive Income (Notes)

3 Months Ended

Mar. 31, 2015

Accumulated Other Comprehensive Income [Abstract]

Comprehensive Income (Loss) Note [Text Block]

ACCUMULATED OTHER COMPREHENSIVE INCOME

The following table presents changes in accumulated other comprehensive income by component for the periods ended March 31, 2015 and 2014:

	Currency Translation Adjustment			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, 2014	$	(4,960	)	$	(1,944	)	$	(206,045	)	$	(212,949	)
Other comprehensive income (loss), net of tax:
Unrealized gains (losses) cash flow hedging arrangements	—			18,359			—			18,359
Foreign currency translation adjustment	(25,941		)	(1,547		)	2,337			(25,151		)
Amounts recognized from accumulated other comprehensive income (loss), net of tax	—			(1,987		)	2,523			536
Net change in other comprehensive income (loss), net of tax	(25,941		)	14,825			4,860			(6,256		)
Balance at March 31, 2015	$	(30,901	)	$	12,881		$	(201,185	)	$	(219,205	)

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

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

	2015			2014
	Amount Recognized From Accumulated Other Comprehensive Income (Loss)						Location of Amounts Recognized in Earnings
Effective portion of (gains) losses on cash flow hedging arrangements:
Interest rate swap agreements	$	765		$	768		Interest expense
Foreign currency forward contracts	(3,091		)	(41		)	Cost of sales - products
Total before taxes	(2,326		)	727
Provision for taxes	(339		)	287			Provision for taxes
Total, net of taxes	$	(1,987	)	$	440
Recognition of defined benefit pension and post-retirement items:
Recognition of actuarial (gains) losses, plan amendments and prior service cost, before taxes	$	3,441		$	712		(a)
Provision for taxes	918			316			Provision for taxes
Total, net of taxes	$	2,523		$	396

(a) These accumulated other comprehensive income (loss) components are included in the computation of net periodic pension and post-retirement cost. See Note 10 for additional details for the three months ended March 31, 2015 and 2014.

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

	March 31, 2015			March 31, 2014
Net earnings	$	63,051		$	58,051
Other comprehensive income (loss), net of tax	(6,256		)	$	1,853
Comprehensive income (loss), net of tax	$	56,795		$	59,904

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Net Periodic Benefit Cost

3 Months Ended

Mar. 31, 2015

Compensation and Retirement Disclosure [Abstract]

NET PERIODIC BENEFIT COST

NET PERIODIC BENEFIT COST

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

	U.S. Pension Benefits						Non-U.S. Pension Benefits						Other U.S. Post-retirement Benefits						Total
	2015			2014			2015			2014			2015			2014			2015			2014
Service cost, net	$	209		$	223		$	4,745		$	3,962		$	—		$	43		$	4,954		$	4,228
Interest cost on projected benefit obligations	1,608			1,599			3,554			5,483			35			60			5,197			7,142
Expected return on plan assets	(2,394		)	(2,137		)	(9,299		)	(9,544		)	—			—			(11,693		)	(11,681		)
Recognition of prior service cost	—			—			(973		)	(1,040		)	(469		)	(195		)	(1,442		)	(1,235		)
Recognition of actuarial losses/(gains)	1,907			1,200			3,819			1,106			(843		)	(359		)	4,883			1,947
Net periodic pension cost/(credit)	$	1,330		$	885		$	1,846		$	(33	)	$	(1,277	)	$	(451	)	$	1,899		$	401

As previously disclosed in the Company’s Annual Report on Form 10-K for the year ended December 31, 2014, the Company expects to make employer contributions of approximately $19.6 million to its non-U.S. pension plan and employer contributions of approximately $0.7 million to itsU.S. post-retirement medical plan during the year ended December 31, 2015. 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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Fair Value Measurements (Details) (USD $) In Thousands, unless otherwise specified	Mar. 31, 2015	Dec. 31, 2014
Assets:
Cash Equivalents	$ 12,200	$ 14,200
Fair Value, Measurements, Recurring [Member]
Assets:
Cash Equivalents	12,167	14,188
Foreign Currency Cash Flow Hedge Asset at Fair Value	20,293	567
Foreign Currency Derivative Instruments Not Designated As Hedging Instruments Asset At Fair Value	3,037	1,611
Total Assets at Fair Value	35,497	16,366
Liabilities:
Interest Rate Cash Flow Hedge Liability at Fair Value	5,162	3,768
Foreign Currency Derivative Instruments Not Designated As Hedging Instruments Liability At Fair Value	2,197	1,799
Total Liabilities at Fair Value	7,359	5,567
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member]
Assets:
Cash Equivalents	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 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	12,167	14,188
Foreign Currency Cash Flow Hedge Asset at Fair Value	20,293	567
Foreign Currency Derivative Instruments Not Designated As Hedging Instruments Asset At Fair Value	3,037	1,611
Total Assets at Fair Value	35,497	16,366
Liabilities:
Interest Rate Cash Flow Hedge Liability at Fair Value	5,162	3,768
Foreign Currency Derivative Instruments Not Designated As Hedging Instruments Liability At Fair Value	2,197	1,799
Total Liabilities at Fair Value	7,359	5,567
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member]
Assets:
Cash Equivalents	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 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 (Policies)

3 Months Ended

Mar. 31, 2015

Accounting Policies [Abstract]

Trade Accounts Receivable

Trade Accounts Receivable

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

Inventories

Inventories

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

Inventories consisted of the following:

	March 31, 2015		December 31, 2014
Raw materials and parts	$	100,936	$	97,969
Work-in-progress	43,144		34,973
Finished goods	74,583		71,589
	$	218,663	$	204,531

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

Other intangible assets consisted of the following:

	March 31, 2015							December 31, 2014
	Gross Amount		Accumulated Amortization			Intangibles, Net		Gross Amount		Accumulated Amortization			Intangibles, Net
Customer relationships	$	96,967	$	(28,258	)	$	68,709	$	98,325	$	(28,159	)	$	70,166
Proven technology and patents	45,546		(31,127		)	14,419		45,588		(30,761		)	14,827
Tradename (finite life)	4,115		(1,953		)	2,162		4,140		(1,786		)	2,354
Tradename (indefinite life)	24,810		—			24,810		24,947		—			24,947
Other	1,550		(1,174		)	376		1,573		(1,083		)	490
	$	172,988	$	(62,512	)	$	110,476	$	174,573	$	(61,789	)	$	112,784

The Company recognized amortization expense associated with the above intangible assets of $1.6 million for both the three months ended March 31, 2015 and 2014, respectively. The annual aggregate amortization expense based on the current balance of other intangible assets is estimated at $6.0 million for 2015, $5.6 million for 2016, $5.3 million for 2017, $5.0 million for 2018, $4.7 million for 2019 and $4.5 million for 2020. Purchased intangible amortization was $1.5 million, $1.0 million after tax and $1.3 million, $0.9 million after tax for the three months ended March 31, 2015 and 2014.

In addition to the above amortization, the Company recorded amortization expense associated with capitalized software of $5.9 million and $5.5 million for the three months ended March 31, 2015 and 2014, 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.

Employee Termination Benefits

Employee Termination Benefits

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

Share - Based Compensation

Share-Based Compensation

The Company recognizes share-based compensation expense within selling, general and administrative in the consolidated statements of operations and comprehensive income with a corresponding offset to additional paid-in capital in the consolidated balance sheet. The Company recorded $3.5 million and $3.2 million of share-based compensation expense for the three months ended March 31, 2015 and 2014, respectively.

Research and Development

Research and Development

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

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Earnings Per Common Share (Tables)

3 Months Ended

Mar. 31, 2015

Earnings Per Share [Abstract]

Diluted weighted average number of common shares outstanding

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

	2015	2014
Three months ended	647,715	718,013

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Accumulated Other Comprehensive Income Details 2 (Details) (USD $) In Thousands, unless otherwise specified	3 Months Ended		12 Months Ended
	Mar. 31, 2015	Mar. 31, 2014	Dec. 31, 2014
Net Income (Loss) Attributable to Parent	$ 63,051	$ 58,051	$ 338,241
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent	(6,256)	1,853	(177,913)
Comprehensive Income (Loss), Net of Tax, Attributable to Parent	$ 56,795	$ 59,904

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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, 2013	$ 935,052	$ 448	$ 653,250	$ (1,721,030)	$ 2,037,420	$ (35,036)
Beginning balance, shares at Dec. 31, 2013		29,487,075
Stock Issued During Period, Value, Treasury Stock Reissued	21,047			39,374	(18,327)
Exercise of stock options and restricted stock units, shares		373,431
Repurchases of common stock	(414,000)			(414,000)
Repurchases of common stock, shares		(1,617,499)
Tax benefit resulting from exercise of certain employee stock options	3,557		3,557
Adjustment to Additional Paid in Capital, Share-Based Compensation	13,611		13,611
Net Income (Loss) Attributable to Parent	338,241				338,241
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent	(177,913)					(177,913)
Ending balance at Dec. 31, 2014	719,595	448	670,418	(2,095,656)	2,357,334	(212,949)
Ending balance, shares at Dec. 31, 2014	28,243,007	28,243,007
Stock Issued During Period, Value, Treasury Stock Reissued	9,546			14,129	(4,583)
Exercise of stock options and restricted stock units, shares	125,398	125,398
Repurchases of common stock	(123,745)			(123,745)
Repurchases of common stock, shares	(400,845)	(400,845)
Tax benefit resulting from exercise of certain employee stock options	441		441
Adjustment to Additional Paid in Capital, Share-Based Compensation	3,496		3,496
Net Income (Loss) Attributable to Parent	63,051				63,051
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent	(6,256)					(6,256)
Ending balance at Mar. 31, 2015	$ 666,128	$ 448	$ 674,355	$ (2,205,272)	$ 2,415,802	$ (219,205)
Ending balance, shares at Mar. 31, 2015	27,967,560	27,967,560

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Fair Value Measurements

3 Months Ended

Mar. 31, 2015

Fair Value Disclosures [Abstract]

FAIR VALUE MEASUREMENTS

FAIR VALUE MEASUREMENTS

At March 31, 2015 and December 31, 2014, the Company had derivative assets totaling $23.3 million and $2.2 million, respectively, and derivative liabilities totaling $7.4 million and $5.6 million, respectively. The fair values of the interest rate swap agreement, foreign currency forward contracts designated as cash flow hedges, and foreign currency forward contracts that economically hedge short-term intercompany balances are estimated based upon inputs from current valuation information obtained from dealer quotes and priced with observable market assumptions and appropriate valuation adjustments for credit risk. The Company has evaluated the valuation methodologies used to develop the fair values by dealers in order to determine whether such valuations are representative of an exit price in the Company’s principal market. In addition, the Company uses an internally developed model to perform testing on the valuations received from brokers. The Company has also considered both its own credit risk and counterparty credit risk in determining fair value and determined these adjustments were insignificant at March 31, 2015 and December 31, 2014.

At March 31, 2015 and December 31, 2014, the Company had $12.2 million and $14.2 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 fair value of the Company's fixed interest rate debt was estimated using Level 2 inputs, primarily discounted cash flow models, based on estimated current rates offered for similar debt under current market conditions for the Company. The fair value of the Company's debt exceeds the carrying value by approximately $14.2 million and $17.8 million as March 31, 2015 and December 31, 2014, respectively.

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

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

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

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

Level 3: Unobservable inputs

The following table presents for each of these hierarchy levels, the Company’s assets and liabilities that are measured at fair value on a recurring basis at March 31, 2015 and December 31, 2014:

	March 31, 2015								December 31, 2014
	Total		Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3
Assets:
Cash equivalents	$	12,167	$	—	$	12,167	$	—	$	14,188	$	—	$	14,188	$	—
Foreign currency forward contracts designated as cash flow hedge	20,293		—		20,293		—		567		—		567		—
Foreign currency forward contracts not designated as hedging instruments	3,037		—		3,037		—		1,611		—		1,611		—
Total	$	35,497	$	—	$	35,497	$	—	$	16,366	$	—	$	16,366	$	—
Liabilities:
Interest rate swap agreements	$	5,162	$	—	$	5,162	$	—	$	3,768	$	—	$	3,768	$	—
Foreign currency forward contracts not designated as hedging instruments	2,197		—		2,197		—		1,799		—		1,799		—
Total	$	7,359	$	—	$	7,359	$	—	$	5,567	$	—	$	5,567	$	—

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Net Periodic Benefit Cost (Tables)

3 Months Ended

Mar. 31, 2015

Compensation and Retirement Disclosure [Abstract]

Net periodic benefit cost

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

	U.S. Pension Benefits						Non-U.S. Pension Benefits						Other U.S. Post-retirement Benefits						Total
	2015			2014			2015			2014			2015			2014			2015			2014
Service cost, net	$	209		$	223		$	4,745		$	3,962		$	—		$	43		$	4,954		$	4,228
Interest cost on projected benefit obligations	1,608			1,599			3,554			5,483			35			60			5,197			7,142
Expected return on plan assets	(2,394		)	(2,137		)	(9,299		)	(9,544		)	—			—			(11,693		)	(11,681		)
Recognition of prior service cost	—			—			(973		)	(1,040		)	(469		)	(195		)	(1,442		)	(1,235		)
Recognition of actuarial losses/(gains)	1,907			1,200			3,819			1,106			(843		)	(359		)	4,883			1,947
Net periodic pension cost/(credit)	$	1,330		$	885		$	1,846		$	(33	)	$	(1,277	)	$	(451	)	$	1,899		$	401

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Share Repurchase Program and Treasury Stock (Details) (USD $)	3 Months Ended		12 Months Ended
	Mar. 31, 2015	Mar. 31, 2014	Dec. 31, 2014
Share Repurchase Program and Treasury Stock (Textuals) [Abstract]
Authorized amount under share repurchase program	$ 3,000,000,000
Remaining Amount to Repurchase under the program	354,600,000
Shares Purchased Under Share Repurchase Program	23,500,000
Repurchases of common stock	$ (123,745,000)	$ (82,498,000)	$ (414,000,000)
Number of shares repurchased	400,845	336,188
Average price of share repurchased, per share	$ 308.69	$ 245.37
Exercise of stock options and restricted stock units, shares reissued	125,398	69,442

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Contingencies

3 Months Ended

Mar. 31, 2015

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.