Business Segments

9 Months Ended

Sep. 30, 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 selling, general and administrative expenses (“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 and nine months endedSeptember 30, 2015 and 2014:

		Three Months Ended				Nine Months Ended
		September 30,				September 30,
		2015		2014		2015		2014
Net sales
	North America	$	90,010	$	87,909	$	258,977	$	247,137
	EMEA		45,989		49,352		130,345		148,769
	Asia/Pacific		46,067		49,601		138,913		136,661
	South America		7,158		12,005		26,045		39,260
Total net sales		$	189,224	$	198,867	$	554,280	$	571,827
Operating earnings, excluding indirect operating expenses
	North America	$	21,893	$	17,771	$	59,938	$	51,350
	EMEA		7,106		8,589		20,538		24,794
	Asia/Pacific		11,250		11,925		33,874		32,064
	South America		261		883		2,270		3,281
Total operating earnings, excluding indirect operating expenses			40,510		39,168		116,620		111,489
Indirect operating expenses			(20,031)		(17,489)		(53,585)		(47,864)
Amortization expense			(1,751)		(1,126)		(4,998)		(2,754)
Consolidated operating income			18,728		20,553		58,037		60,871
Other income (expense), net			185		914		(97)		558
Interest expense			(697)		(641)		(1,891)		(1,747)
Interest income			422		642		1,117		1,990
Consolidated income before taxes and equity in net income of
	associated companies	$	18,638	$	21,468	$	57,166	$	61,672

Inter-segment revenue for the three and nine months endedSeptember 30, 2015was$2,250 and $6,885 for North America, $5,185 and $14,559 for EMEA, $267 and $523 for Asia/Pacific and $0 and $13 for South America, respectively. Inter-segment revenue for the three and nine months endedSeptember 30, 2014was$2,605 and $6,411 for North America, $5,801 and $16,582 for EMEA, $127 and $329 for Asia/Pacific and zero 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 above.