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Segment Reporting
 12 Months Ended
Dec. 31, 2023
Segment Reporting [Abstract]  
Segment Reporting Disclosure SEGMENT REPORTING
The Company has five reportable segments: U.S. Operations, Swiss Operations, Western European Operations, Chinese Operations, and Other. U.S. Operations represent certain of the Company’s marketing and producing organizations located in the United States. Western European Operations include the Company’s marketing and producing organizations in Western Europe, excluding operations located in Switzerland. Swiss Operations include marketing and producing organizations located in Switzerland as well as extensive R&D operations that are responsible for the development, production, and marketing of precision instruments, including weighing, analytical, and measurement technologies for use in a variety of laboratory and industrial applications. Chinese Operations represent the Company’s marketing and producing organizations located in China. The Company’s market organizations are geographically focused and are responsible for all aspects of the Company’s sales and service. Operations that exist outside these reportable segments are included in Other.
The accounting policies of the operating segments are the same as those described in the summary of significant accounting policies. The Company evaluates performance based on segment profit for segment reporting (gross profit less research and development and selling, general, and administrative expenses, before amortization, interest expense, restructuring charges, other charges (income), net, and taxes). Inter-segment sales and transfers are priced to reflect consideration of market conditions and the regulations of the countries in which the transferring entities are located.
The following tables show the operations of the Company’s reportable segments:
For the Year Ended December 31, 2023Net Sales to
External
Customers		Net Sales to
Other
Segments		Total Net
Sales		Segment
Profit		DepreciationTotal AssetsPurchase of
Property, Plant,
and Equipment		Goodwill
U.S. Operations$1,403,919 $137,192 $1,541,111 $365,052 $15,863 $3,848,003 $(36,269)$526,392 
Swiss Operations188,679 761,114 949,793 281,481 7,017 3,554,911 (8,030)27,532 
Western European Operations792,907 188,963 981,870 178,673 5,351 1,533,297 (5,052)101,653 
Chinese Operations718,818 278,027 996,845 367,094 9,609 989,955 (10,133)621 
Other(a)
683,986 20,600 704,586 106,238 4,297 408,200 (12,380)13,910 
Eliminations and Corporate(b)
(1,385,896)(1,385,896)(146,642)6,814 (6,978,811)(33,459)— 
Total$3,788,309 $— $3,788,309 $1,151,896 $48,951 $3,355,555 $(105,323)$670,108 
For the Year Ended December 31, 2022Net Sales to
External
Customers		Net Sales to
Other
Segments		Total Net
Sales		Segment
Profit		DepreciationTotal AssetsPurchase of
Property, Plant,
and Equipment		Goodwill
U.S. Operations$1,444,460 $156,884 $1,601,344 $357,802 $14,582 $3,574,842 $(55,464)$524,470 
Swiss Operations176,119 839,951 1,016,070 309,844 6,644 2,968,539 (7,690)25,058 
Western European Operations799,931 196,900 996,831 174,352 4,970 1,314,332 (5,110)96,077 
Chinese Operations841,526 308,164 1,149,690 424,162 9,699 1,234,303 (12,418)641 
Other(a)
657,673 3,959 661,632 90,322 4,176 388,639 (6,268)13,924 
Eliminations and Corporate(b)
— (1,505,858)(1,505,858)(164,023)6,713 (5,988,260)(34,291)— 
Total$3,919,709 $— $3,919,709 $1,192,459 $46,784 $3,492,395 $(121,241)$660,170 
For the Year Ended December 31, 2021Net Sales to
External
Customers		Net Sales to
Other
Segments		Total Net
Sales		Segment
Profit		DepreciationTotal AssetsPurchase of
Property, Plant,
and Equipment		Goodwill
U.S. Operations$1,287,983 $155,987 $1,443,970 $302,177 $12,123 $3,278,400 $(34,972)$508,942 
Swiss Operations171,633 826,001 997,634 301,142 6,557 2,700,965 (7,856)23,710 
Western European Operations829,761 211,547 1,041,308 172,265 5,264 1,566,819 (11,014)100,433 
Chinese Operations771,651 291,779 1,063,430 369,835 9,566 1,037,838 (15,700)710 
Other(a)
656,902 4,780 661,682 100,028 3,819 365,182 (5,652)14,827 
Eliminations and Corporate(b)
— (1,490,094)(1,490,094)(187,636)7,653 (5,622,406)(32,386)— 
Total$3,717,930 $— $3,717,930 $1,057,811 $44,982 $3,326,798 $(107,580)$648,622 
(a)Other includes reporting units in Southeast Asia, Latin America, Eastern Europe, and other countries.
(b)Eliminations and Corporate includes the elimination of intersegment transactions as well as 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 follows:
202320222021
Earnings before taxes$973,728 $1,070,592 $949,361 
Amortization72,213 66,239 63,075 
Interest expense77,366 55,392 43,242 
Restructuring charges32,735 9,556 5,239 
Other income, net(4,146)(9,320)(3,106)
Segment profit$1,151,896 $1,192,459 $1,057,811 
The Company sells precision instruments, including weighing instruments and certain analytical and measurement technologies, and related services to a variety of customers and industries. None of these end-customers account for more than 1% of net sales. Service revenues are primarily derived from repair and other services including regulatory compliance qualification, calibration, certification, and preventative maintenance, and spare parts. A breakdown of the Company’s sales by product category is disclosed in Note 3 to the consolidated financial statements.
In certain circumstances, our reporting units sell directly into other geographies. A breakdown of net sales to external customers by geographic customer destination and property, plant, and equipment by geographic destination for the years ended December 31 follows:
Net SalesProperty, Plant, and
Equipment, Net
 20232022202120232022
United States$1,346,468 $1,363,335 $1,217,114 $224,696 $228,997 
Other Americas221,742 219,158 202,718 13,152 4,155 
Total Americas1,568,210 1,582,493 1,419,832 237,848 233,152 
Germany221,482 219,813 229,341 36,123 39,159 
France139,304 147,430 152,225 22,684 8,027 
United Kingdom79,455 85,382 90,431 30,651 30,828 
Switzerland91,564 80,891 82,381 332,136 300,155 
Other Europe483,693 480,844 508,583 19,285 35,914 
Total Europe1,015,498 1,014,360 1,062,961 440,879 414,083 
China707,592 823,842 754,002 87,972 90,343 
Rest of World497,009 499,014 481,135 36,675 41,022 
Total Asia/Rest of World1,204,601 1,322,856 1,235,137 124,647 131,365 
Total$3,788,309 $3,919,709 $3,717,930 $803,374 $778,600