Segment Reporting

3 Months Ended

Mar. 31, 2021

Segment Reporting [Abstract]

SEGMENT REPORTING

SEGMENT REPORTINGAs disclosed in Note 19 to the Company's consolidated financial statements for the year ended December 31, 2020, 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 reportable segments:

	Net Sales to		Net Sales to
For the three months ended	External		Other		Total Net		Segment
March 31, 2021	Customers		Segments		Sales		Profit		Goodwill
U.S. Operations	$	271,959	$	36,784	$	308,743	$	63,671	$	509,600
Swiss Operations	39,281		184,465		223,746		64,879		23,048
Western European Operations	192,350		52,255		244,605		37,866		92,193
Chinese Operations	156,074		69,078		225,152		72,024		683
Other (a)	144,726		1,095		145,821		20,172		15,163
Eliminations and Corporate (b)	—		(343,677)		(343,677)		(47,940)		—
Total	$	804,390	$	—	$	804,390	$	210,672	$	640,687

	Net Sales to		Net Sales to
For the three months ended	External		Other		Total Net		Segment
March 31, 2020	Customers		Segments		Sales		Profit		Goodwill
U.S. Operations	$	241,409	$	26,391	$	267,800	$	44,938	$	413,898
Swiss Operations	31,897		152,848		184,745		53,910		22,751
Western European Operations	153,325		41,715		195,040		24,107		85,058
Chinese Operations	100,599		48,749		149,348		45,550		619
Other (a)	121,932		896		122,828		11,026		14,569
Eliminations and Corporate (b)	—		(270,599)		(270,599)		(38,253)		—
Total	$	649,162	$	—	$	649,162	$	141,278	$	536,895

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

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

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

	Three Months Ended
	March 31, 2021		March 31, 2020
Earnings before taxes	$	185,414	$	118,499
Amortization	13,884		13,998
Interest expense	9,471		10,219
Restructuring charges	1,193		1,905
Other charges (income), net	710		(3,343)
Segment profit	$	210,672	$	141,278

During the three months ended March 31, 2021, restructuring charges of $1.2 million were recognized, of which $0.3 million, $0.2 million, $0.5 million, and $0.2 million related to the Company’s U.S., Swiss, Western European and Other operations, respectively. Restructuring charges of $1.9 million

were recognized during the three months ended March 31, 2020, of which $0.3 million, $0.7 million, $0.8 million, and $0.1 million related to the Company's U.S., Swiss, Western European, and Other operations, respectively.