Business Segments

3 Months Ended

Mar. 31, 2018

Segment Reporting Measurement Disclosures [Abstract]

Segment Reporting Disclosure [Text Block]

Note 5 – Business Segments

The Company’s reportable operating segments are organized by geography as follows: (i) North America, (ii) 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 cost of goods sold (“COGS”) 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, amortization expense and other income (expense), net.

The following table presents information about the performance of the Company’s reportable operating segments for the three months endedMarch 31, 2018 and 2017:

		Three Months Ended
		March 31,
		2018		2017
Net sales
	North America	$	91,820	$	87,341
	EMEA		62,055		53,927
	Asia/Pacific		48,777		45,150
	South America		9,403		8,491
Total net sales		$	212,055	$	194,909
Operating earnings, excluding indirect operating expenses
	North America	$	20,365	$	20,637
	EMEA		10,293		9,246
	Asia/Pacific		12,142		10,243
	South America		635		797
Total operating earnings, excluding indirect operating expenses			43,435		40,923
Combination-related expenses			(5,209)		(9,075)
Indirect operating expenses			(16,142)		(16,317)
Amortization expense			(1,853)		(1,773)
Consolidated operating income			20,231		13,758
Other expense, net			(369)		(105)
Interest expense			(1,692)		(656)
Interest income			489		523
Consolidated income before taxes and equity in net (loss) income of associated companies		$	18,659	$	13,520

Inter-segment revenues for the three months ended March 31, 2018 and 2017 were $3.1 million and $2.1 million for North America, $5.6 million and $4.8 million for EMEA, $0.4 million and $0.1 million for Asia/Pacific and $0 and less than $0.1 million 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.