Business Segments

3 Months Ended

Mar. 31, 2015

Segment Reporting Measurement Disclosures [Abstract]

Segment Reporting Disclosure [Text Block]

Note 3 – Business Segments

The Company’s reportable operating segments are organized by geography as follows: (i) North America, (ii) Europe, Middle East and Africa (“EMEA”), (iii) Asia/Pacific and (iv) South America. Operating earnings, excluding indirect operating expenses, for the Company’s reportable operating segments are comprised of revenues less costs of goods sold and SG&A directly related to the respective regions’ product sales. The indirect operating expenses consist of SG&A related expenses that are not directly attributable to the product sales of each respective reportable operating segment.Other items not specifically identified with the Company’s reportable operating segments include interest expense, interest income, license fees from non-consolidated affiliates and other income (expense).

The following table presents information about the performance of the Company’s reportable operating segments for the three months endedMarch 31, 2015 and March 31, 2014:

		Three Months Ended
		March 31,
		2015		2014
Net sales
	North America	$	83,002	$	76,716
	EMEA		43,185		49,189
	Asia/Pacific		45,000		41,937
	South America		10,143		13,832
Total net sales		$	181,330	$	181,674
Operating earnings, excluding indirect operating expenses
	North America	$	17,825	$	15,711
	EMEA		6,571		8,096
	Asia/Pacific		10,434		9,918
	South America		1,252		1,509
Total operating earnings, excluding indirect operating expenses			36,082		35,234
Indirect operating expenses			(16,591)		(15,048)
Amortization expense			(1,627)		(813)
Consolidated operating income			17,864		19,373
Other expense, net			(194)		(473)
Interest expense			(587)		(525)
Interest income			320		453
Consolidated income before taxes and equity in net income of associated companies		$	17,403	$	18,828

Inter-segment revenue for the three months ended March 31, 2015 and March 31, 2014 were $2,020 and $1,950 for North America, $4,779 and $5,326 for EMEA, $94 and $107 for Asia/Pacific and $9 and $0 for South America, respectively. However, all inter-segment transactions have been eliminated from each reportable operating segment’s net sales and earnings for all periods presented.