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Segment Reporting (Tables)
6 Months Ended
Jun. 30, 2020
Operations of the Company's operating segments
The following tables show the operations of the Company’s operating segments:
 
Net Sales to
 
Net Sales to
 
 
 
 
 
As of June 30,
For the three months ended
External
 
Other
 
Total Net
 
Segment
 
2020
June 30, 2020
Customers
 
Segments
 
Sales
 
Profit
 
Goodwill
U.S. Operations
$
249,340

 
$
27,515

 
$
276,855

 
$
52,581

 
$
414,370

Swiss Operations
28,948

 
142,487

 
171,435

 
48,248

 
22,830

Western European Operations
149,051

 
39,699

 
188,750

 
30,345

 
84,975

Chinese Operations
140,907

 
45,731

 
186,638

 
63,955

 
621

Other (a)
122,427

 
875

 
123,302

 
13,122

 
14,828

Eliminations and Corporate (b)

 
(256,307
)
 
(256,307
)
 
(31,608
)
 

Total
$
690,673

 
$

 
$
690,673

 
$
176,643

 
$
537,624


 
Net Sales to
 
Net Sales to
 
 
 
 
 
 
For the six months ended
External
 
Other
 
Total Net
 
Segment
 
 
June 30, 2020
Customers
 
Segments
 
Sales
 
Profit
 
 
U.S. Operations
$
490,750

 
$
53,904

 
$
544,654

 
$
97,519

 
 
Swiss Operations
60,844

 
295,336

 
356,180

 
102,158

 
 
Western European Operations
302,376

 
81,413

 
383,789

 
54,452

 
 
Chinese Operations
241,506

 
94,480

 
335,986

 
109,505

 
 
Other (a)
244,359

 
1,771

 
246,130

 
24,148

 
 
Eliminations and Corporate (b)

 
(526,904
)
 
(526,904
)
 
(69,861
)
 
 
Total
$
1,339,835

 
$

 
$
1,339,835

 
$
317,921

 
 

(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 June 30,
For the three months ended
External
 
Other
 
Total Net
 
Segment
 
2019
June 30, 2019
Customers
 
Segments
 
Sales
 
Profit
 
Goodwill
U.S. Operations
$
267,889

 
$
26,571

 
$
294,460

 
$
53,986

 
$
410,021

Swiss Operations
31,358

 
151,931

 
183,289

 
48,613

 
22,157

Western European Operations
163,681

 
39,212

 
202,893

 
22,229

 
86,749

Chinese Operations
136,459

 
52,568

 
189,027

 
65,489

 
643

Other (a)
131,979

 
1,334

 
133,313

 
14,300

 
14,987

Eliminations and Corporate (b)

 
(271,616
)
 
(271,616
)
 
(26,876
)
 

Total
$
731,366

 
$

 
$
731,366

 
$
177,741

 
$
534,557


 
Net Sales to
 
Net Sales to
 
 
 
 
 
 
For the six months ended
External
 
Other
 
Total Net
 
Segment
 
 
June 30, 2019
Customers
 
Segments
 
Sales
 
Profit
 
 
U.S. Operations
$
502,540

 
$
52,716

 
$
555,256

 
$
91,971

 
 
Swiss Operations
64,935

 
305,662

 
370,597

 
102,135

 
 
Western European Operations
329,587

 
83,257

 
412,844

 
47,954

 
 
Chinese Operations
258,181

 
109,425

 
367,606

 
124,973

 
 
Other (a)
255,575

 
2,595

 
258,170

 
27,487

 
 
Eliminations and Corporate (b)

 
(553,655
)
 
(553,655
)
 
(68,938
)
 
 
Total
$
1,410,818

 
$

 
$
1,410,818

 
$
325,582

 
 

(a)
Other includes reporting units in Eastern Europe, Latin America, Southeast Asia and other countries.
(b)
Eliminations and Corporate includes the elimination of inter-segment transactions and certain corporate expenses and intercompany investments, which are not included in the Company’s operating segments.
Reconciliation of earnings before taxes to segment profit
A reconciliation of earnings before taxes to segment profit for the three and six month periods ended June 30 follows:

 
Three Months Ended
 
Six Months Ended
 
2020
 
2019
 
2020
 
2019
Earnings before taxes
$
155,255

 
$
155,216

 
$
273,754

 
$
280,892

Amortization
13,889

 
12,326

 
27,887

 
24,548

Interest expense
9,582

 
8,882

 
19,801

 
17,976

Restructuring charges
860

 
2,891

 
2,765

 
4,414

Other charges (income), net
(2,943
)
 
(1,574
)
 
(6,286
)
 
(2,248
)
Segment profit
$
176,643

 
$
177,741

 
$
317,921

 
$
325,582