Segment Reporting (Tables)

9 Months Ended

Sep. 30, 2016

Operations of the Company's operating segments

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

	Net Sales to		Net Sales to									As of September 30,
For the three months ended	External		Other			Total Net			Segment			2016
September 30, 2016	Customers		Segments			Sales			Profit			Goodwill
U.S. Operations	$	235,715	$	20,151		$	255,866		$	43,779		$	356,089
Swiss Operations	32,390		127,569			159,959			36,854			22,280
Western European Operations	159,025		43,816			202,841			30,218			87,403
Chinese Operations	99,349		62,368			161,717			51,669			669
Other (a)	124,119		1,770			125,889			16,721			15,703
Eliminations and Corporate (b)	—		(255,674		)	(255,674		)	(27,566		)	—
Total	$	650,598	$	—		$	650,598		$	151,675		$	482,144

	Net Sales to		Net Sales to
For the nine months ended	External		Other			Total Net			Segment
September 30, 2016	Customers		Segments			Sales			Profit
U.S. Operations	$	640,618	$	61,884		$	702,502		$	114,046
Swiss Operations	90,075		374,863			464,938			107,673
Western European Operations	450,940		121,308			572,248			74,711
Chinese Operations	277,182		166,948			444,130			134,229
Other (a)	339,743		4,824			344,567			41,064
Eliminations and Corporate (b)	—		(729,827		)	(729,827		)	(88,958		)
Total	$	1,798,558	$	—		$	1,798,558		$	382,765

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

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

	Net Sales to		Net Sales to									As of September 30,
For the three months ended	External		Other			Total Net			Segment			2015
September 30, 2015	Customers		Segments			Sales			Profit			Goodwill
U.S. Operations	$	217,831	$	21,221		$	239,052		$	40,547		$	317,525
Swiss Operations	32,847		122,399			155,246			39,358			22,130
Western European Operations	149,996		45,403			195,399			26,594			94,659
Chinese Operations	96,717		57,544			154,261			44,958			709
Other (a)	106,763		2,014			108,777			13,464			13,319
Eliminations and Corporate (b)	—		(248,581		)	(248,581		)	(30,649		)	—
Total	$	604,154	$	—		$	604,154		$	134,272		$	448,342

	Net Sales to		Net Sales to
For the nine months ended	External		Other			Total Net			Segment
September 30, 2015	Customers		Segments			Sales			Profit
U.S. Operations	$	600,917	$	62,353		$	663,270		$	101,964
Swiss Operations	96,851		355,492			452,343			108,892
Western European Operations	439,717		124,709			564,426			69,377
Chinese Operations	274,178		160,724			434,902			119,571
Other (a)	310,249		4,959			315,208			32,652
Eliminations and Corporate (b)	—		(708,237		)	(708,237		)	(82,568		)
Total	$	1,721,912	$	—		$	1,721,912		$	349,888

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

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

Reconciliation of earnings before taxes to segment profit

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

	Three Months Ended					Nine Months Ended
	2016		2015			2016		2015
Earnings before taxes	$	133,324	$	116,923		$	322,909	$	301,933
Amortization	9,087		7,767			26,166		22,929
Interest expense	7,167		7,029			20,619		20,696
Restructuring charges	1,494		2,561			4,579		5,188
Other charges (income), net	603		(8		)	8,492		(858		)
Segment profit	$	151,675	$	134,272		$	382,765	$	349,888