Segment Reporting

3 Months Ended

Mar. 31, 2022

Segment Reporting [Abstract]

SEGMENT REPORTING

SEGMENT REPORTING

As disclosed in Note 18 to the Company's consolidated financial statements for the year ended December 31, 2021, 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, 2022	Customers		Segments		Sales		Profit		Goodwill
U.S. Operations	$	325,821	$	39,573	$	365,394	$	75,186	$	514,022
Swiss Operations	43,270		193,835		237,105		71,322		23,198
Western European Operations	192,886		50,127		243,013		38,780		97,612
Chinese Operations	182,706		80,438		263,144		84,968		709
Other (a)	153,108		963		154,071		20,452		14,577
Eliminations and Corporate (b)	—		(364,936)		(364,936)		(49,463)		—
Total	$	897,791	$	—	$	897,791	$	241,245	$	650,118

	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

(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, 2022		March 31, 2021
Earnings before taxes	$	213,001	$	185,414
Amortization	16,604		13,884
Interest expense	11,338		9,471
Restructuring charges	4,011		1,193
Other charges (income), net	(3,709)		710
Segment profit	$	241,245	$	210,672