Business Segments

6 Months Ended

Jun. 30, 2016

Segment Reporting Measurement Disclosures [Abstract]

Segment Reporting Disclosure [Text Block]

Note 4 – 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 is comprised of revenues less costs of goods sold and selling, general and administrative expenses (“SG&A”) directly related to the respective region’s product sales. The indirect operating expenses consist of SG&A 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 six months endedJune 30, 2016 and 2015:

		Three Months Ended				Six Months Ended
		June 30,				June 30,
		2016		2015		2016		2015
Net sales
	North America	$	83,088	$	85,965	$	165,460	$	168,967
	EMEA		53,108		41,171		100,757		84,356
	Asia/Pacific		43,151		47,846		84,663		92,846
	South America		7,568		8,744		14,112		18,887
Total net sales		$	186,915	$	183,726	$	364,992	$	365,056
Operating earnings, excluding indirect operating expenses
	North America	$	20,122	$	20,220	$	38,754	$	38,045
	EMEA		8,903		6,861		16,956		13,432
	Asia/Pacific		11,080		12,190		22,128		22,624
	South America		338		757		23		2,009
Total operating earnings, excluding indirect operating expenses			40,443		40,028		77,861		76,110
Indirect operating expenses			(16,538)		(16,963)		(32,945)		(33,554)
Amortization expense			(1,812)		(1,620)		(3,589)		(3,247)
Consolidated operating income			22,093		21,445		41,327		39,309
Other income (expense), net			271		(88)		977		(282)
Interest expense			(727)		(607)		(1,468)		(1,194)
Interest income			545		375		893		695
Consolidated income before taxes and equity in net income of
	associated companies	$	22,182	$	21,125	$	41,729	$	38,528

Inter-segment revenues for the three and six months endedJune 30, 2016were$1.9 million and $3.8million for North America, $3.9million and $7.8million for EMEA, less than $0.1million and $0.3million for Asia/Pacific, respectively, and less than $0.1 million for South America in both periods. Inter-segment revenues for the three and six months endedJune 30, 2015were$2.6million and $4.6million for North America, $4.6million and $9.4million for EMEA, $0.2million and $0.3million for Asia/Pacific, respectively,and less than $0.1 million for South America in both periods. However, all inter-segment transactions have been eliminated from each reportable operating segment’s net sales and earnings for all periods presented above.