Business Segments

6 Months Ended

Jun. 30, 2017

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 COGS and 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, amortization expense and other expense, net.

The following table presents information about the performance of the Company’s reportable operating segments for the three and six months endedJune 30, 2017 and 2016:

		Three Months Ended				Six Months Ended
		June 30,				June 30,
		2017		2016		2017		2016
Net sales
	North America	$	90,331	$	83,088	$	177,672	$	165,460
	EMEA		54,507		53,108		108,434		100,757
	Asia/Pacific		47,724		43,151		92,874		84,663
	South America		8,621		7,568		17,112		14,112
Total net sales		$	201,183	$	186,915	$	396,092	$	364,992
Operating earnings, excluding indirect operating expenses
	North America	$	19,621	$	20,255	$	40,258	$	38,937
	EMEA		8,217		8,936		17,463		17,045
	Asia/Pacific		11,812		11,080		22,055		22,128
	South America		1,064		338		1,861		23
Total operating earnings, excluding indirect operating expenses			40,714		40,609		81,637		78,133
Combination-related expenses			(4,338)		—		(13,413)		—
Nonoperating charges			(16,642)		(16,096)		(32,959)		(32,005)
Amortization expense			(1,831)		(1,812)		(3,604)		(3,589)
Consolidated operating income			17,903		22,701		31,661		42,539
Other expense, net			(1,571)		(337)		(1,676)		(235)
Interest expense			(780)		(727)		(1,436)		(1,468)
Interest income			540		545		1,063		893
Consolidated income before taxes and equity in net income of
	associated companies	$	16,092	$	22,182	$	29,612	$	41,729

Inter-segment revenues for the three and six months endedJune 30, 2017were$2.5 million and $4.6million for North America, $5.0million and $9.8million for EMEA, less than $0.1 million and $0.1 million 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, 2016were$1.9million 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. However, all inter-segment transactions have been eliminated from each reportable operating segment’s net sales and earnings for all periods presented above.