Segment Reporting (Tables)

6 Months Ended

Jun. 30, 2021

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		2021
June 30, 2021	Customers		Segments		Sales		Profit		Goodwill
U.S. Operations	$	323,310	$	38,507	$	361,817	$	79,272	$	509,600
Swiss Operations	40,836		201,182		242,018		69,516		23,553
Western European Operations	201,722		55,873		257,595		38,476		93,133
Chinese Operations	205,521		72,529		278,050		94,663		697
Other (a)	152,962		1,275		154,237		21,414		15,203
Eliminations and Corporate (b)	—		(369,366)		(369,366)		(48,085)		—
Total	$	924,351	$	—	$	924,351	$	255,256	$	642,186

	Net Sales to		Net Sales to
For the six months ended	External		Other		Total Net		Segment
June 30, 2021	Customers		Segments		Sales		Profit
U.S. Operations	$	595,269	$	75,292	$	670,561	$	142,943
Swiss Operations	80,117		385,647		465,764		134,395
Western European Operations	394,072		108,128		502,200		76,342
Chinese Operations	361,595		141,607		503,202		166,687
Other (a)	297,688		2,371		300,059		41,586
Eliminations and Corporate (b)	—		(713,045)		(713,045)		(96,025)
Total	$	1,728,741	$	—	$	1,728,741	$	465,928

(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		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.

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
	2021		2020		2021		2020
Earnings before taxes	$	230,384	$	155,255	$	415,798	$	273,754
Amortization	16,218		13,889		30,102		27,887
Interest expense	10,439		9,582		19,910		19,801
Restructuring charges	876		860		2,069		2,765
Other income, net	(2,661)		(2,943)		(1,951)		(6,286)
Segment profit	$	255,256	$	176,643	$	465,928	$	317,921