Segment Reporting (Tables)

9 Months Ended

Sep. 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 September 30,
For the three months ended	External		Other		Total Net		Segment		2020
September 30, 2020	Customers		Segments		Sales		Profit		Goodwill
U.S. Operations	$	278,948	$	30,857	$	309,805	$	65,493	$	414,370
Swiss Operations	38,848		167,335		206,183		61,902		23,353
Western European Operations	177,630		42,130		219,760		36,954		88,292
Chinese Operations	165,231		54,314		219,545		81,055		651
Other (a)	146,700		1,509		148,209		23,554		15,056
Eliminations and Corporate (b)	—		(296,145)		(296,145)		(38,980)		—
Total	$	807,357	$	—	$	807,357	$	229,978	$	541,722

	Net Sales to		Net Sales to
For the nine months ended	External		Other		Total Net		Segment
September 30, 2020	Customers		Segments		Sales		Profit
U.S. Operations	$	769,696	$	84,761	$	854,457	$	163,012
Swiss Operations	99,693		462,671		562,364		164,060
Western European Operations	480,006		123,543		603,549		91,406
Chinese Operations	406,738		148,794		555,532		190,560
Other (a)	391,059		3,281		394,340		47,702
Eliminations and Corporate (b)	—		(823,050)		(823,050)		(108,841)
Total	$	2,147,192	$	—	$	2,147,192	$	547,899

(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		2019
September 30, 2019	Customers		Segments		Sales		Profit		Goodwill
U.S. Operations	$	269,038	$	28,075	$	297,113	$	54,628	$	410,021
Swiss Operations	33,415		160,736		194,151		54,226		21,803
Western European Operations	168,652		42,794		211,446		29,888		83,971
Chinese Operations	142,292		60,710		203,002		72,745		615
Other (a)	140,469		1,513		141,982		17,938		14,814
Eliminations and Corporate (b)	—		(293,828)		(293,828)		(33,210)		—
Total	$	753,866	$	—	$	753,866	$	196,215	$	531,224

	Net Sales to		Net Sales to
For the nine months ended	External		Other		Total Net		Segment
September 30, 2019	Customers		Segments		Sales		Profit
U.S. Operations	$	771,578	$	80,791	$	852,369	$	146,599
Swiss Operations	98,350		466,398		564,748		156,361
Western European Operations	498,240		126,050		624,290		77,842
Chinese Operations	400,473		170,135		570,608		197,718
Other (a)	396,043		4,108		400,151		45,425
Eliminations and Corporate (b)	—		(847,482)		(847,482)		(102,148)
Total	$	2,164,684	$	—	$	2,164,684	$	521,797

(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
	2020		2019		2020		2019
Earnings before taxes	$	205,809	$	169,359	$	479,563	$	450,251
Amortization	14,121		12,329		42,008		36,877
Interest expense	9,310		9,800		29,111		27,776
Restructuring charges	4,570		6,732		7,335		11,146
Other charges (income), net	(3,832)		(2,005)		(10,118)		(4,253)
Segment profit	$	229,978	$	196,215	$	547,899	$	521,797