Mettler-Toledo International (MTD) 10-Q 3 Nov 17 2017 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information Document - USD ($)	9 Months Ended
	Sep. 30, 2017	Jun. 30, 2017
Document and Entity Information [Abstract]
Entity Registrant Name	METTLER TOLEDO INTERNATIONAL INC/
Entity Central Index Key	1,037,646
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Document Type	10-Q
Document Period End Date	Sep. 30, 2017
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q3
Amendment Flag	false
Entity Common Stock, Shares Outstanding	25,579,124
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Public Float		$ 15,106,676,501

Interim Consolidated Statements

Interim Consolidated Statements of Operations (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Net sales
Products	$ 544,408	$ 508,963	$ 1,514,516	$ 1,392,860
Service	154,391	141,635	432,506	405,698
Total net sales	698,799	650,598	1,947,022	1,798,558
Cost of sales
Products	217,194	203,150	593,277	552,329
Service	81,328	77,954	235,651	229,252
Gross profit	400,277	369,494	1,118,094	1,016,977
Research and development	32,477	30,139	96,723	89,813
Selling, general and administrative	204,915	187,680	582,604	544,399
Amortization	10,716	9,087	31,010	26,166
Interest expense	8,248	7,167	24,160	20,619
Restructuring Charges	3,385	1,494	8,840	4,579
Other charges (income), net	909	603	(5,565)	8,492
Earnings before taxes	139,627	133,324	380,322	322,909
Provision for taxes	34,677	31,992	81,326	76,315
Net earnings	$ 104,950	$ 101,332	$ 298,996	$ 246,594
Basic earnings per common share:
Net earnings	$ 4.10	$ 3.84	$ 11.60	$ 9.25
Weighted average number of common shares	25,613,433	26,375,468	25,764,472	26,644,938
Diluted earnings per common share:
Net earnings	$ 3.99	$ 3.77	$ 11.31	$ 9.08
Weighted average number of common and common equivalent shares	26,303,529	26,888,810	26,446,677	27,153,450
Comprehensive Income, Net of Tax (Note 9)	$ 125,699	$ 117,704	$ 376,357	$ 246,840

Interim Consolidated Balance Sh

Interim Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Current assets:
Cash and cash equivalents	$ 169,086	$ 158,674
Trade accounts receivable, less allowances of $15,893 at September 30, 2017 and $14,234 at December 31, 2016	483,167	454,988
Inventories	263,527	222,047
Other current assets and prepaid expenses	70,784	61,075
Total current assets	986,564	896,784
Property, plant and equipment, net	641,709	563,707
Goodwill	538,418	476,378
Other intangible assets, net	229,975	167,055
Non-current deferred tax assets, net	43,103	33,951
Other non-current assets	57,430	28,902
Total assets	2,497,199	2,166,777
Current liabilities:
Trade accounts payable	148,521	146,593
Accrued and other liabilities	137,672	133,167
Accrued compensation and related items	151,820	140,461
Deferred revenue and customer prepayments	123,730	100,330
Taxes payable	72,082	47,990
Short-term borrowings and current maturities of long-term debt	18,533	18,974
Total current liabilities	652,358	587,515
Long-term debt	1,050,681	875,056
Non-current deferred tax liabilities	31,090	64,306
Other non-current liabilities	250,091	204,957
Total liabilities	1,984,220	1,731,834
Commitments and contingencies (Note 15)
Shareholders' equity:
Preferred stock, $0.01 par value per share; authorized 10,000,000 shares	0	0
Common stock, $0.01 par value per share; authorized 125,000,000 shares; issued 44,786,011 and 44,786,011 shares; outstanding 25,579,124 and 26,020,234 shares at September 30, 2017 and December 31, 2016, respectively	448	448
Additional paid-in capital	742,379	730,556
Treasury stock at cost (19,206,887 shares at September 30, 2017 and 18,765,777 shares at December 31, 2016)	(3,312,526)	(3,006,771)
Retained earnings	3,360,315	3,065,708
Accumulated Other Comprehensive Income (Loss), Net of Tax	(277,637)	(354,998)
Total shareholders' equity	512,979	434,943
Total liabilities and shareholders' equity	$ 2,497,199	$ 2,166,777

Balance Sheet Parentheticals (P

Balance Sheet Parentheticals (Parentheticals) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Allowance for Doubtful Accounts Receivable, Current	$ 15,893	$ 14,234
Preferred Stock, Par or Stated Value Per Share	$ 0.01	$ 0.01
Preferred Stock, Shares Authorized	10,000,000	10,000,000
Common Stock, Par or Stated Value Per Share	$ 0.01	$ 0.01
Common Stock, Shares Authorized	125,000,000	125,000,000
Common Stock, Shares, Issued	44,786,011	44,786,011
Common Stock, Shares, Outstanding	25,579,124	26,020,234
Treasury Stock, Shares	19,206,887	18,765,777

Interim Consolidated Statement5

Interim Consolidated Statements of Shareholders' Equity and Comprehensive Income (Unaudited) - USD ($) $ in Thousands	Total	Common Stock	Additional Paid-in Capital	Treasury Stock	Retained Earnings	Accumulated Other Comprehensive Income (Loss)
Beginning balance at Dec. 31, 2015	$ 580,457	$ 448	$ 697,570	$ (2,543,229)	$ 2,692,317	$ (266,649)
Beginning balance, shares at Dec. 31, 2015		27,090,118
Stock Issued During Period, Value, Treasury Stock Reissued	25,471			36,450	10,979
Exercise of stock options and restricted stock units, shares		278,623
Repurchases of common stock	(499,992)			(499,992)
Repurchases of common stock, shares		(1,348,507)
Tax benefit resulting from exercise of certain employee stock options	17,680		17,680
Adjustment to Additional Paid in Capital, Share-Based Compensation	15,306		15,306
Net earnings	384,370				384,370
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent	(88,349)					(88,349)
Ending balance at Dec. 31, 2016	$ 434,943	$ 448	730,556	(3,006,771)	3,065,708	(354,998)
Ending balance, shares at Dec. 31, 2016	26,020,234	26,020,234
Stock Issued During Period, Value, Treasury Stock Reissued	$ 23,315			29,243	5,928
Exercise of stock options and restricted stock units, shares	206,646	206,646
Repurchases of common stock	$ (334,998)			(334,998)
Repurchases of common stock, shares	(647,756)	(647,756)
Adjustment to Additional Paid in Capital, Share-Based Compensation	$ 11,823		11,823
Net earnings	298,996				298,996
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent	77,361					77,361
Ending balance at Sep. 30, 2017	$ 512,979	$ 448	$ 742,379	$ (3,312,526)	3,360,315	$ (277,637)
Ending balance, shares at Sep. 30, 2017	25,579,124	25,579,124
Cumulative Effect of New Accounting Principle in Period of Adoption	$ 1,539				$ 1,539

Interim Consolidated Statement6

Interim Consolidated Statements of Cash Flows (Unaudited) - USD ($)	9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016
Cash flows from operating activities:
Net earnings	$ 298,996,000	$ 246,594,000
Adjustments to reconcile net earnings to net cash provided by operating activities:
Depreciation	24,421,000	24,527,000
Amortization	31,010,000	26,166,000
Deferred tax benefit	(7,754,000)	(11,078,000)
Share-based compensation	11,823,000	10,861,000
Gain on facility sale	(3,394,000)	0
Other Comprehensive Income (Loss), Defined Benefit Plan, Settlement and Curtailment Gain (Loss), before Tax	0	8,189,000
Other	227,000	6,000
Increase (decrease) in cash resulting from changes in:
Trade accounts receivable, net	1,891,000	4,721,000
Inventories	(23,596,000)	(19,857,000)
Other current assets	(2,526,000)	(3,558,000)
Trade accounts payable	(5,857,000)	(11,984,000)
Taxes payable	11,386,000	6,577,000
Accruals and other	14,608,000	26,149,000
Net cash provided by operating activities	351,235,000	307,313,000
Cash flows from investing activities:
Proceeds from sale of property, plant and equipment	10,437,000	361,000
Purchase of property, plant and equipment	(85,826,000)	(51,234,000)
Acquisitions	(108,445,000)	(109,681,000)
Payments for (Proceeds from) Derivative Instrument, Investing Activities	3,716,000	2,031,000
Net cash used in investing activities	(180,118,000)	(158,523,000)
Cash flows from financing activities:
Proceeds from borrowings	985,694,000	709,988,000
Repayments of borrowings	(834,061,000)	(455,913,000)
Proceeds from stock option exercises	23,315,000	20,187,000
Repurchases of common stock	(334,998,000)	(374,994,000)
Proceeds from (Payments for) Other Financing Activities	(7,205,000)	(680,000)
Net cash used in financing activities	(167,255,000)	(101,412,000)
Effect of exchange rate changes on cash and cash equivalents	6,550,000	(132,000)
Net (decrease) increase in cash and cash equivalents	10,412,000	47,246,000
Cash and cash equivalents:
Beginning of period	158,674,000	98,887,000
End of period	$ 169,086,000	$ 146,133,000

Basis of Presentation

Basis of Presentation	9 Months Ended
	Sep. 30, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]
BASIS OF PRESENTATION	BASIS OF PRESENTATION Mettler-Toledo International Inc. ("Mettler-Toledo" or the "Company") is a leading global supplier of precision instruments and services. The Company manufactures weighing instruments for use in laboratory, industrial, packaging, logistics and food retailing applications. The Company also manufactures several related analytical instruments and provides automated chemistry solutions used in drug and chemical compound discovery and development. In addition, the Company manufactures metal detection and other end-of-line inspection systems used in production and packaging and provides solutions for use in certain process analytics applications. The Company's primary manufacturing facilities are located in China, Germany, Switzerland, the United Kingdom and the United States. The Company's principal executive offices are located in Columbus, Ohio and Greifensee, Switzerland. The accompanying interim consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) and include all entities in which the Company has control, which are its wholly-owned subsidiaries. The interim consolidated financial statements have been prepared without audit, pursuant to the rules and regulations of the Securities and Exchange Commission. Certain information and footnote disclosures normally included in financial statements prepared in accordance with U.S. GAAP have been condensed or omitted pursuant to such rules and regulations. The interim consolidated financial statements should be read in conjunction with the consolidated financial statements and the notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2016 . The accompanying interim consolidated financial statements reflect all adjustments which, in the opinion of management, are necessary for a fair statement of the results of the interim periods presented. Operating results for the three and nine months ended September 30, 2017 are not necessarily indicative of the results to be expected for the full year ending December 31, 2017 . The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, as well as disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting periods. Actual results may differ from those estimates. A discussion of the Company’s critical accounting policies is included in Management’s Discussion and Analysis of Financial Condition and Results of Operations and the Notes to the Consolidated Financial Statements included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2016 . All intercompany transactions and balances have been eliminated.

Summary of Significant Accounti

Summary of Significant Accounting Policies	9 Months Ended
	Sep. 30, 2017
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Trade Accounts Receivable Trade accounts receivable are recorded at the invoiced amount and do not bear interest. The allowance for doubtful accounts represents the Company’s best estimate of probable credit losses in its existing trade accounts receivable. The Company determines the allowance based upon a review of both specific accounts for collection and the age of the accounts receivable portfolio. Inventories Inventories are valued at the lower of cost or net realizable value. Cost, which includes direct materials, labor and overhead, is generally determined using the first in, first out (FIFO) method. The estimated net realizable value is based on assumptions for future demand and related pricing. Adjustments to the cost basis of the Company’s inventory are made for excess and obsolete items based on usage, orders and technological obsolescence. If actual market conditions are less favorable than those projected by management, reductions in the value of inventory may be required. Inventories consisted of the following: September 30, December 31, Raw materials and parts $ 119,148 $ 100,408 Work-in-progress 50,212 41,454 Finished goods 94,167 80,185 $ 263,527 $ 222,047 Goodwill and Other Intangible Assets Goodwill, representing the excess of purchase price over the net asset value of companies acquired, and indefinite-lived intangible assets are not amortized, but are reviewed for impairment annually in the fourth quarter, or more frequently if events or changes in circumstances indicate that an asset might be impaired. The annual evaluation for goodwill and indefinite-lived intangible assets are generally based on an assessment of qualitative and quantitative factors to determine whether it is more likely than not that the fair value of the asset is less than its carrying amount. Other intangible assets include indefinite-lived assets and assets subject to amortization. Where applicable, amortization is charged on a straight-line basis over the expected period of benefit. The straight-line method of amortization reflects an appropriate allocation of the cost of the intangible assets to earnings in proportion to the amount of economic benefits obtained by the Company in each reporting period. The Company assesses the initial acquisition of intangible assets in accordance with the provisions of ASC 805 "Business Combinations" and the continued accounting for previously recognized intangible assets and goodwill in accordance with the provisions of ASC 350 "Intangible - Goodwill and Other" and ASC 360 "Property, Plant and Equipment". Other intangible assets consisted of the following: September 30, 2017 December 31, 2016 Gross Amount Accumulated Amortization Intangibles, Net Gross Amount Accumulated Amortization Intangibles, Net Customer relationships $ 198,355 $ (39,757 ) $ 158,598 $ 147,466 $ (34,672 ) $ 112,794 Proven technology and patents 70,169 (37,711 ) 32,458 58,394 (35,128 ) 23,266 Tradename (finite life) 4,486 (2,765 ) 1,721 4,182 (2,514 ) 1,668 Tradename (indefinite life) 35,603 — 35,603 28,272 — 28,272 Other 3,673 (2,078 ) 1,595 2,871 (1,816 ) 1,055 $ 312,286 $ (82,311 ) $ 229,975 $ 241,185 $ (74,130 ) $ 167,055 The Company recognized amortization expense associated with the above intangible assets of $2.9 million and $2.2 million for the three months ended September 30, 2017 and 2016 , respectively and $7.9 million and $5.8 million for the nine months ended September 30, 2017 and 2016 , respectively. The annual aggregate amortization expense based on the current balance of other intangible assets is estimated at $11.4 million for 2017 , $13.7 million for 2018 , $13.3 million for 2019 , $12.9 million for 2020 , $12.3 million for 2021 and $11.7 million for 2022 . Purchased intangible amortization was $2.6 million , $1.7 million after tax, and $2.0 million , $1.3 million after tax, for the three months ended September 30, 2017 and 2016 , respectively and $7.2 million , $4.7 million after tax, and $5.2 million , $3.5 million after tax, for the nine months ended September 30, 2017 and 2016 , respectively. In addition to the above amortization, the Company recorded amortization expense associated with capitalized software of $7.7 million and $6.8 million for the three months ended September 30, 2017 and 2016 , respectively and $22.9 million and $20.2 million for the nine months ended September 30, 2017 and 2016 , respectively. Revenue Recognition Revenue is recognized when title to a product has transferred and any significant customer obligations have been fulfilled. Standard shipping terms are generally FOB shipping point in most countries and, accordingly, title and risk of loss transfers upon shipment. In countries where title cannot legally transfer before delivery, the Company defers revenue recognition until delivery has occurred. The Company generally maintains the right to accept or reject a product return in its terms and conditions and also maintains appropriate accruals for outstanding credits. Shipping and handling costs charged to customers are included in total net sales and the associated expense is recorded in cost of sales for all periods presented. Other than a few small software applications, the Company does not sell software products without the related hardware instrument as the software is embedded in the instrument. The Company’s products typically require no significant production, modification or customization of the hardware or software that is essential to the functionality of the products. To the extent the Company’s solutions have a post-shipment obligation, revenue is deferred until the obligation has been completed. The Company defers product revenue where installation is required, unless such installation is deemed perfunctory. The Company also sometimes enters into certain arrangements that require the separate delivery of multiple goods and/or services. These deliverables are accounted for separately if the deliverables have standalone value and the performance of undelivered items is probable and within the Company's control. The allocation of revenue between the separate deliverables is typically based on the relative selling price at the time of the sale in accordance with a number of factors including service technician billing rates, time to install and geographic location. Further, certain products are also sold through indirect distribution channels whereby the distributor assumes any further obligations to the customer upon title transfer. Revenue is recognized on these products upon transfer of title and risk of loss to its distributors. Distributor discounts are offset against revenue at the time such revenue is recognized. Service revenue not under contract is recognized upon the completion of the service performed. Spare parts sold on a stand-alone basis are recognized upon title and risk of loss transfer which is generally at the time of shipment. Revenues from service contracts are recognized ratably over the contract period. These contracts represent an obligation to perform repair and other services including regulatory compliance qualification, calibration, certification and preventative maintenance on a customer’s pre-defined equipment over the contract period. Service contracts are separately priced and payment is typically received from the customer at the beginning of the contract period. Warranty The Company generally offers one -year warranties on most of its products. Product warranties are recorded at the time revenue is recognized. While the Company engages in extensive product quality programs and processes, its warranty obligations are affected by product failure rates, material usage and service costs incurred in correcting a product failure. Employee Termination Benefits In situations where contractual termination benefits exist, the Company records accruals for employee termination benefits when it is probable that a liability has been incurred and the amount of the liability is reasonably estimable. All other employee termination arrangements are recognized and measured at their fair value at the communication date unless the employee is required to render additional service beyond the legal notification period, in which case the liability is recognized ratably over the future service period. Share-Based Compensation The Company recognizes share-based compensation expense within selling, general and administrative in the consolidated statements of operations and other comprehensive income with a corresponding offset to additional paid-in capital in the consolidated balance sheet. The Company recorded $4.0 million and $11.8 million of share-based compensation expense for the three and nine months ended September 30, 2017 , respectively, compared to $3.6 million and $10.9 million for the corresponding periods in 2016 . Research and Development Research and development costs primarily consist of salaries, consulting and other costs. The Company expenses these costs as incurred. Business Combinations and Asset Acquisitions The Company accounts for business acquisitions under the accounting standards for business combinations. The results of each acquisition are included in the Company's consolidated results as of the acquisition date and the purchase price of an acquisition is allocated to tangible and intangible assets and assumed liabilities based on their estimated fair values and any excess consideration of the net assets acquired is recognized as goodwill. Acquisition transaction costs are expensed when incurred. In circumstances where an acquisition involves a contingent consideration arrangement, the Company recognizes a liability equal to the fair value of the expected contingent payments as of the acquisition date. Changes in the fair value of the contingent consideration are recorded to other charges (income), net. Recent Accounting Pronouncements In January 2017, the Company adopted ASU 2016-09, to ASC 718 "Compensation - Stock Compensation." The primary impact of adoption was the recognition of excess tax benefits from stock option exercises within the provision for taxes rather than within shareholder's equity, and a change in the determination of diluted earnings per common share. The Company adopted the guidance on a prospective basis, and expects its estimated annual tax rate will be reduced by 2% in 2017. The adoption of this guidance also increased the Company's income tax rate by approximately 1% for the three months ending September 30, 2017 and reduced the Company's income tax rate by approximately 3% for the nine months ending September 30, 2017. In addition, the Company recognized additional deferred tax assets of $1.5 million as a cumulative adjustment within shareholder's equity. The Company also classified on a retrospective basis the excess tax benefits from stock option exercises of $17.2 million as operating activities in the prior period Statements of Cash Flows. For additional disclosure, see Note 6 to the interim consolidated financial statements. The FASB issued ASU 2014-09, ASU 2016-10 and ASU 2016-12 to ASC 606 "Revenue from Contracts with Customers." ASU 2014-09 provides authoritative guidance clarifying the principles for recognizing revenue and developing a common revenue standard for U.S. GAAP. The core principle of the guidance is that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods and services. Additionally, the guidance requires improved disclosure to help users of financial statements better understand the nature, amount, timing, and uncertainty of revenue that is recognized. ASU 2016-10 provides guidance for identifying performance obligations as they pertain to immaterial promised goods or services, shipping and handling activities, and identifying when promises represent performance obligations. ASU 2016-12 provides guidance for assessing collectability, presentation of sales taxes, noncash considerations, and completed contract modifications at transition. The guidance becomes effective for the Company for the year beginning January 1, 2018. The Company is finalizing its evaluation of the impact of the adoption of this guidance and believes it will have an immaterial impact on the Company's consolidated results of operations and financial position. The estimated impact to the Company's results is expected to be immaterial because most of its performance obligations are satisfied at the time of title transfer and risk of loss to the customer which is generally upon shipment. In addition, contracts with end-customers typically do not exceed a year, and generally pertain to service contracts that represent an obligation to perform repair or other services on a customer's pre-defined equipment over the contract period. The Company also sometimes enters into contracts with end-customers that comprise arrangements that require separate delivery of multiple goods and/or services, including post-shipment obligations such as installation. Immaterial impacts from adopting the new standard include the recognition of certain revenue for performance obligations that were deferred until post-shipment obligations were completed. The number of performance obligations under the new standard is also not materially different from the Company's financial accounting and reporting model under the existing standard. The Company is still evaluating the adoption method it will elect upon implementation. The Company is also in the process of implementing appropriate changes to its business processes, systems and controls to support recognition and disclosures under the new standard. In March 2017, the FASB issued ASU 2017-7, to ASC 715 "Compensation-Retirement Benefits," which will require the Company to report the non-service cost components of net periodic benefit cost in other charges (income), net. The new guidance must be applied retrospectively and becomes effective for the year beginning January 1, 2018. The Company expects the impact of this guidance will be immaterial. In February 2016, the FASB issued ASU 2016-02 to ASC 842 "Leases." The accounting guidance primarily requires lessees to recognize most leases on their balance sheet as a right to use asset and a lease liability, with the exception of short term leases. A lessee will continue to recognize lease expense on a straight-line basis for leases classified as operating leases. The guidance becomes effective for fiscal years beginning after December 15, 2018 and must be applied on a retrospective basis with early adoption permitted. The Company is currently evaluating the impact of this guidance on the financial statements and the timing of adoption. In August 2017, the FASB issued ASU 2017-12 to ASC 815 "Derivatives and Hedging" which modifies hedge accounting by making more hedge strategies eligible for hedge accounting, amending presentation and disclosure requirements, and changing how companies assess effectiveness. The intent is to simplify the application of hedge accounting and increase transparency of information about an entity’s risk management activities. The amended guidance is effective for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. Early adoption is permitted. The Company is currently evaluating the impact of the adoption of this guidance and believes it will have an immaterial impact on the Company's consolidated results of operations and financial position.

Business Combination (Notes)

Business Combination (Notes)	9 Months Ended
	Sep. 30, 2017
Business Combinations [Abstract]
Business Combination Disclosure [Text Block]	3. ACQUISITIONS In September 2017, the Company acquired the shares of Biotix, Inc., a manufacturer and distributor of plastic consumables associated with pipettes, including tips, tubes and reagent reservoirs used in the life sciences market based in the United States. The initial cash payment was $105 million and the Company may be required to pay additional cash consideration up to a maximum amount of $65 million based upon earnings thresholds in 2018 and 2019. The fair value of the contingent consideration obligation of $30.7 million relating to the Biotix acquisition was determined using a Monte Carlo simulation based on the Company's forecast of future results. Goodwill recorded in connection with the acquisition totaled $51.3 million, which is included in the Company's U.S. Operations segment. The fair value of the contingent consideration was determined using a Monte Carlo simulation. Identified intangible finite life assets acquired include customer relationships of $49.5 million, technology and patents of $8.0 million, indefinite life tradenames of $7.1 million, and other intangibles of $0.6 million. The identifiable finite life intangible assets will be amortized on a straight-line basis over periods ranging from 5 year to 18 years and the annual aggregate amortization expense is estimated at $3.7 million. Net tangible assets acquired were $19.2 million and recorded at fair value in the consolidated financial statements. In 2017, the Company also incurred additional acquisition payments totaling $3.8 million. Goodwill recorded in connection with acquisitions totaled $0.3 million. The Company also recorded $3.1 million of identified intangibles primarily pertaining to technology and patents in connection with these acquisitions, which will be amortized on a straight-line basis over 12 years. Net tangible assets acquired were $0.2 million and recorded a fair value in the consolidated financial statements.

Financial Instruments

Financial Instruments	9 Months Ended
	Sep. 30, 2017
Derivative Instruments and Hedging Activities Disclosure [Abstract]
FINANCIAL INSTRUMENTS	FINANCIAL INSTRUMENTS The Company has limited involvement with derivative financial instruments and does not use them for trading purposes. The Company enters into certain interest rate swap agreements in order to manage its exposure to changes in interest rates. The amount of the Company's fixed obligation interest payments may change based upon the expiration dates of its interest rate swap agreements and the level and composition of its debt. The Company also enters into certain foreign currency forward contracts to limit the Company's exposure to currency fluctuations on the respective hedged items. As also mentioned in Note 7, the Company has designated its euro denominated debt as a hedge of a portion of its net investment in euro-denominated foreign operations. For additional disclosures on the fair value of financial instruments, see Note 5 to the interim consolidated financial statements. Cash Flow Hedges In June 2017, the Company entered into a cross currency swap arrangement designated as a cash flow hedge. The agreement converts $100 million of borrowings under the Company's credit facility into synthetic Swiss franc debt which allows the Company to effectively change the floating rate LIBOR-based interest payment to a fixed Swiss franc income of 0.01%. The swap began in June 2017 and matures in June 2019. The Company has an interest rate swap agreement designated as a cash flow hedge. The agreement is a swap which has the effect of changing the floating rate LIBOR-based interest payments associated with $50 million of borrowings under the Company’s credit facility to a fixed obligation of 2.52% . The swap began in October 2015 and matures in October 2020. In March 2015, the Company entered into a forward-starting interest rate swap agreement. The agreement is a swap which has the effect of changing the floating rate LIBOR-based interest payments associated with $100 million of borrowings under the Company's credit agreement to a fixed obligation of 2.25% beginning in February 2017 and matures in February 2022. The Company's cash flow hedges are recorded gross at fair value in the consolidated balance sheet at September 30, 2017 and December 31, 2016 , respectively, and disclosed in Note 5 to the consolidated financial statements. Amounts reclassified into other comprehensive income and the effective portions of the cash flow hedges are further disclosed in Note 9 to the consolidated financial statements. A derivative gain of $1.4 million based upon interest rates and foreign currency rates at September 30, 2017 , is expected to be reclassified from other comprehensive income (loss) to earnings in the next twelve months. Through September 30, 2017 , no hedge ineffectiveness has occurred in relation to the cash flow hedges. Other Derivatives The Company enters into foreign currency forward contracts in order to economically hedge short-term trade and non-trade intercompany balances largely denominated in Swiss franc, other major European currencies, and the Chinese Renminbi with its foreign businesses. In accordance with U.S. GAAP, these contracts are considered “derivatives not designated as hedging instruments.” Gains or losses on these instruments are reported in current earnings. The foreign currency forward contracts are recorded at fair value in the consolidated balance sheet at September 30, 2017 and December 31, 2016 , respectively, and disclosed in Note 5. The Company recognized in other charges (income), a net gain of $4.5 million during the three months ended September 30, 2017 . The amount recognized in other charges (income) during the three months ended September 30, 2016 was insignificant to the consolidated financial statements. The Company recognized in other charges (income), a net gain of $6.3 million and a net loss of $0.7 million during the nine months ended September 30, 2017 and 2016 , respectively. The gains and losses are primarily offset by the underlying transaction gains and losses on the related intercompany balances. At September 30, 2017 and December 31, 2016, these contracts had a notional value of $358.9 million and $353.0 million , respectively.

Fair Value Measurements

Fair Value Measurements	9 Months Ended
	Sep. 30, 2017
Fair Value Disclosures [Abstract]
FAIR VALUE MEASUREMENTS	FAIR VALUE MEASUREMENTS At September 30, 2017 and December 31, 2016 , the Company had derivative assets totaling $0.8 million in both periods, respectively, and derivative liabilities totaling $4.9 million and $5.8 million , respectively. The fair values of the interest rate swap agreements, foreign currency forward contracts designated as cash flow hedges and foreign currency forward contracts that economically hedge short-term intercompany balances are estimated based upon inputs from current valuation information obtained from dealer quotes and priced with observable market assumptions and appropriate valuation adjustments for credit risk. The Company has evaluated the valuation methodologies used to develop the fair values by dealers in order to determine whether such valuations are representative of an exit price in the Company’s principal market. In addition, the Company uses an internally developed model to perform testing on the valuations received from brokers. The Company has also considered both its own credit risk and counterparty credit risk in determining fair value and determined these adjustments were insignificant at September 30, 2017 and December 31, 2016 . At September 30, 2017 and December 31, 2016 , the Company had $33.9 million and $21.5 million of cash equivalents, respectively, the fair value of which is determined through quoted and corroborated prices in active markets. The fair value of cash equivalents approximates cost. The fair value of the Company's fixed interest rate debt was estimated using Level 2 inputs, primarily discounted cash flow models, based on estimated current rates offered for similar debt under current market conditions for the Company. The fair value of the Company's debt exceeds the carrying value by approximately $9.1 million as of September 30, 2017 and $4.2 million as of December 31, 2016 . The fair value of the contingent consideration obligation of $30.7 million relating to the Biotix acquisition was determined using a Monte Carlo simulation based on the Company's forecast of future results. The fair value measurements are based on significant inputs not observable in the market and thus represent a Level 3 measurement. Under U.S. GAAP, fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. A fair value measurement consists of observable and unobservable inputs that reflect the assumptions that a market participant would use in pricing an asset or liability. A fair value hierarchy has been established that categorizes these inputs into three levels: Level 1: Quoted prices in active markets for identical assets and liabilities Level 2: Observable inputs other than quoted prices in active markets for identical assets and liabilities Level 3: Unobservable inputs The following table presents for each of these hierarchy levels, the Company’s assets and liabilities that are measured at fair value on a recurring basis at September 30, 2017 and December 31, 2016 : September 30, 2017 December 31, 2016 Total Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Assets: Cash equivalents $ 33,917 $ — $ 33,917 $ — $ 21,513 $ — $ 21,513 $ — Foreign currency forward contracts not designated as hedging instruments 756 — 756 — 791 — 791 — Total $ 34,673 $ — $ 34,673 $ — $ 22,304 $ — $ 22,304 $ — Liabilities: Interest rate swap agreements $ 2,985 $ — $ 2,985 $ — $ 3,630 $ — $ 3,630 $ — Cross currency swap agreement 826 — 826 — — — — — Foreign currency forward contracts not designated as hedging instruments 1,109 — 1,109 — 2,123 — 2,123 — Total $ 4,920 $ — $ 4,920 $ — $ 5,753 $ — $ 5,753 $ —

Income Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2017
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXES The provision for taxes is based upon using the Company's projected annual effective tax rate of 22% before non-recurring discrete items for both the three and nine month periods ended September 30, 2017 . The reduction in the Company's estimated annual effective tax rate from 24% in 2016 to 22% in 2017, as well as the Company's reported tax rate of 25% and 21% during the three and nine months ending September 30, 2017 , is primarily related to the Company's adoption of ASU 2016-09 pertaining to excess tax benefits associated with stock option exercises. The Company's 2017 estimated annual tax rate of 22% includes an estimated annual benefit of 2% related to the adoption of ASU 2016-09, the effects of which are being treated discretely each quarter.

Debt

Debt	9 Months Ended
	Sep. 30, 2017
Debt Disclosure [Abstract]
DEBT	DEBT Debt consisted of the following at September 30, 2017 : September 30, 2017 U.S. Dollar Other Principal Trading Currencies Total 3.67% $50 million Senior Notes due December 17, 2022 50,000 — 50,000 4.10% $50 million Senior Notes due September 19, 2023 50,000 — 50,000 3.84% $125 million Senior Notes due September 19, 2024 125,000 — 125,000 4.24% $125 million Senior Notes due June 25, 2025 125,000 — 125,000 1.47% EUR 125 million Senior Notes due June 17, 2030 — 146,956 146,956 Debt issuance costs, net (1,125 ) (364 ) (1,489 ) Total Senior Notes 348,875 146,592 495,467 $800 million Credit Agreement, interest at LIBOR plus 87.5 basis points 537,304 17,910 555,214 Other local arrangements — 18,533 18,533 Total debt 886,179 183,035 1,069,214 Less: current portion — (18,533 ) (18,533 ) Total long-term debt $ 886,179 $ 164,502 $ 1,050,681 As of September 30, 2017 , the Company had $238.6 million of availability remaining under its Credit Agreement. During the three months ended September 30, 2017, the Company increased its borrowing under the Credit Agreement by $97.9 million, which primarily was used to fund the Biotix acquisition as described in Note 3. 1.47% Euro Senior Notes The Company has designated the 1.47% Euro Senior Notes as a hedge of a portion of its net investment in euro-denominated foreign subsidiaries to reduce foreign currency risk associated with the net investment in these operations. Changes in the carrying value of this debt resulting from fluctuations in the euro to U.S. dollar exchange rate are recorded as foreign currency translation adjustments within other comprehensive income (loss). The unrealized gain (loss) recorded in other comprehensive income (loss) related to this net investment hedge was a loss of $5.0 million and $2.0 million for the three months ended September 30, 2017 and 2016, respectively, and a loss of $15.5 million and $3.6 million for the nine months periods ended September 30, 2017 and 2016, respectively.

Share Repurchase Program and Tr

Share Repurchase Program and Treasury Stock	9 Months Ended
	Sep. 30, 2017
Equity [Abstract]
SHARE REPURCHASE PROGRAM AND TREASURY STOCK	SHARE REPURCHASE PROGRAM AND TREASURY STOCK The Company has a share repurchase program of which there was $648.4 million common shares remaining to be repurchased under the program as of September 30, 2017 . The share repurchases are expected to be funded from cash balances, borrowings and cash generated from operating activities. Repurchases will be made through open market transactions, and the amount and timing of purchases will depend on business and market conditions, the stock price, trading restrictions, the level of acquisition activity and other factors. The Company has purchased 26.6 million shares since the inception of the program in 2004 through September 30, 2017 . During the nine months ended September 30, 2017 and 2016 , the Company spent $335.0 million and $375.0 million on the repurchase of 647,756 shares and 1,048,075 shares at an average price per share of $517.15 and $357.77 , respectively. The Company also reissued 206,646 shares and 193,517 shares held in treasury for the exercise of stock options and restricted stock units during the nine months ended September 30, 2017 and 2016 , respectively.

Other Comprehensive Income (Not

Other Comprehensive Income (Notes)	9 Months Ended
	Sep. 30, 2017
Other Comprehensive Income (Loss), Net of Tax [Abstract]
Comprehensive Income (Loss) Note [Text Block]	ACCUMULATED OTHER COMPREHENSIVE INCOME The following table presents changes in accumulated other comprehensive income by component for the nine months ended September 30, 2017 and 2016 : Currency Translation Adjustment, Net of Tax Net Unrealized Gain (Loss) on Cash Flow Hedging Arrangements, Net of Tax Pension and Post-Retirement Benefit Related Items, Net of Tax Total Balance at December 31, 2016 $ (115,322 ) $ (2,232 ) $ (237,444 ) $ (354,998 ) Other comprehensive income (loss), net of tax: Amounts recognized in accumulated other comprehensive income (loss), net of tax — (578 ) — (578 ) Foreign currency translation adjustment 78,447 — (12,054 ) 66,393 Amounts recognized from accumulated other comprehensive income (loss), net of tax — 365 11,181 11,546 Net change in other comprehensive income (loss), net of tax 78,447 (213 ) (873 ) 77,361 Balance at September 30, 2017 $ (36,875 ) $ (2,445 ) $ (238,317 ) $ (277,637 ) Currency Translation Adjustment, Net of Tax Net Unrealized Gain (Loss) on Cash Flow Hedging Arrangements, Net of Tax Pension and Post-Retirement Benefit Related Items, Net of Tax Total Balance at December 31, 2015 $ (57,394 ) $ 3,016 $ (212,271 ) $ (266,649 ) Other comprehensive income (loss), net of tax: Unrealized gains (losses) on cash flow hedging arrangements — (3,760 ) (4,545 ) (8,305 ) Foreign currency translation adjustment 162 (217 ) (2,071 ) (2,126 ) Amounts recognized from accumulated other comprehensive income (loss), net of tax — (3,121 ) 13,798 10,677 Net change in other comprehensive income (loss), net of tax 162 (7,098 ) 7,182 246 Balance at September 30, 2016 $ (57,232 ) $ (4,082 ) $ (205,089 ) $ (266,403 ) The following table presents amounts recognized from accumulated other comprehensive income (loss) for the three and nine month periods ended September 30 : Three months ended September 30, 2017 2016 Location of Amounts Recognized in Earnings Effective portion of (gains) / losses on cash flow hedging arrangements: Interest rate swap agreements $ 424 $ 258 Interest expense Cross currency swap agreement (1,866 ) — (a) Foreign currency forward contracts — (1,601 ) Cost of sales - products Total before taxes (1,442 ) (1,343 ) Provision for taxes 18 (229 ) Provision for taxes Total, net of taxes $ (1,460 ) $ (1,114 ) Recognition of defined benefit pension and post-retirement items: Recognition of actuarial losses and prior service cost, before taxes $ 5,035 $ 3,996 (b) Provision for taxes 1,319 1,033 Provision for taxes Total, net of taxes $ 3,716 $ 2,963 (a) The cross currency swap reflects an unrealized gain of $1.3 million recorded in other charges (income) that was offset by the underlying unrealized gain on the hedged debt. The cross currency swap also reflects a realized gain of $0.6 million recorded in interest expense. (b) These accumulated other comprehensive income (loss) components are included in the computation of net periodic pension and post-retirement cost. See Note 11 for additional details for the three and nine months ended September 30, 2017 and 2016 . Nine months ended September 30, 2017 2016 Location of Amounts Recognized in Earnings Effective portion of (gains) / losses on cash flow hedging arrangements: Interest rate swap agreements $ 1,273 $ 784 Interest expense Cross currency swap agreement (454 ) — (a) Foreign currency forward contracts — (4,532 ) Cost of sales - products Total before taxes 819 (3,748 ) Provision for taxes 454 (627 ) Provision for taxes Total, net of taxes $ 365 $ (3,121 ) Recognition of defined benefit pension and post-retirement items: Recognition of actuarial losses, settlement loss and prior service cost, before taxes $ 15,128 $ 19,964 (b) Provision for taxes 3,947 6,166 Provision for taxes Total, net of taxes $ 11,181 $ 13,798 (a) The cross currency swap reflects an unrealized loss of $0.2 million recorded in other charges (income) that was offset by the underlying unrealized gain on the hedged debt. The cross currency swap also reflects a realized gain of $0.6 million recorded in interest expense. (b) These accumulated other comprehensive income (loss) components are included in the computation of net periodic pension and post-retirement cost. See Note 11 for additional details for the three and nine months ended September 30, 2017 and 2016 . Comprehensive income (loss), net of tax consisted of the following as of September 30 : Three Months Ended Nine Months Ended 2017 2016 2017 2016 Net earnings $ 104,950 $ 101,332 $ 298,996 $ 246,594 Other comprehensive income (loss), net of tax 20,749 16,372 77,361 246 Comprehensive income, net of tax $ 125,699 $ 117,704 $ 376,357 $ 246,840

Earnings Per Common Share

Earnings Per Common Share	9 Months Ended
	Sep. 30, 2017
Earnings Per Share [Abstract]
EARNINGS PER COMMON SHARE	EARNINGS PER COMMON SHARE In accordance with the treasury stock method, the Company has included the following common equivalent shares in the calculation of diluted weighted average number of common shares outstanding for the three and nine month periods ended September 30, relating to outstanding stock options and restricted stock units: 2017 2016 Three months ended 690,096 513,342 Nine months ended 682,205 508,512 The determination of the common share equivalents for the three and nine months ended September 30, 2017 includes the effect of the adoption of guidance ASU 2016-09 as described in Note 2. For the three months ended September 30, 2017 , there were no anti-dilutive outstanding options or restricted stock units. Outstanding options and restricted stock units to purchase or receive 17 and 84,293 shares of common stock for the three month periods ended September 30, 2017 and 2016 , and options and restricted stock units to purchase or receive 35 and 84,712 for the nine month periods ended September 30, 2017 and 2016 , respectively, have been excluded from the calculation of diluted weighted average of common and common equivalent shares as such options and restricted stock units would be anti-dilutive.

Net Periodic Benefit Cost

Net Periodic Benefit Cost	9 Months Ended
	Sep. 30, 2017
Retirement Benefits [Abstract]
NET PERIODIC BENEFIT COST	NET PERIODIC BENEFIT COST Net periodic pension cost for the Company’s defined benefit pension plans and U.S. post-retirement medical plan includes the following components for the three months ended September 30 : U.S. Pension Benefits Non-U.S. Pension Benefits Other U.S. Post-retirement Benefits Total 2017 2016 2017 2016 2017 2016 2017 2016 Service cost, net $ 141 $ 103 $ 4,008 $ 4,216 $ — $ — 4,149 4,319 Interest cost on projected benefit obligations 1,094 1,014 2,269 2,542 18 19 3,381 3,575 Expected return on plan assets (1,684 ) (1,868 ) (7,910 ) (8,177 ) — — (9,594 ) (10,045 ) Recognition of prior service cost — — (1,611 ) (1,288 ) (195 ) (469 ) (1,806 ) (1,757 ) Recognition of actuarial losses/(gains) 1,639 1,907 5,676 4,519 (474 ) (673 ) 6,841 5,753 Net periodic pension cost/(credit) $ 1,190 $ 1,156 $ 2,432 $ 1,812 $ (651 ) $ (1,123 ) $ 2,971 $ 1,845 Net periodic pension cost for the Company’s defined benefit pension plans and U.S. post-retirement medical plan includes the following components for the nine months ended September 30 : U.S. Pension Benefits Non-U.S. Pension Benefits Other U.S. Post-retirement Benefits Total 2017 2016 2017 2016 2017 2016 2017 2016 Service cost, net $ 423 $ 328 $ 12,086 $ 12,606 $ — $ — 12,509 12,934 Interest cost on projected benefit obligations 3,282 3,414 6,294 7,967 54 57 9,630 11,438 Expected return on plan assets (5,052 ) (5,912 ) (22,795 ) (25,020 ) — — (27,847 ) (30,932 ) Recognition of prior service cost — — (4,439 ) (3,856 ) (585 ) (1,408 ) (5,024 ) (5,264 ) Recognition of actuarial losses/(gains) 4,917 5,699 16,657 13,585 (1,422 ) (2,019 ) 20,152 17,265 Settlement charge — 7,963 — — — — — 7,963 Net periodic pension cost/(credit) $ 3,570 $ 11,492 $ 7,803 $ 5,282 $ (1,953 ) $ (3,370 ) $ 9,420 $ 13,404 As previously disclosed in the Company's Annual Report on Form 10-K for the year ended December 31, 2016 , the Company expects to make employer contributions of approximately $19.4 million to its non-U.S. pension plans and employer contributions of approximately $0.5 million to its U.S. post-retirement medical plan during the year ended December 31, 2017. These estimates may change based upon several factors, including fluctuations in currency exchange rates, actual returns on plan assets and changes in legal requirements. In February 2016 the Company offered former employees a one-time option to receive a lump sum distribution of their vested pension plan benefits. Based upon the eligible participant acceptance, $14.6 million was paid from plan assets to these former employees in the second quarter of 2016 with a corresponding decrease in the benefit obligation. The Company incurred a one-time non-cash settlement charge recorded in other charges (income), net during the second quarter of 2016 of approximately $8.2 million , of which $8.0 million , $4.9 million after tax, was reclassified from accumulated other comprehensive income.

Restructuring Charges

Restructuring Charges	9 Months Ended
	Sep. 30, 2017
Restructuring and Related Activities [Abstract]
RESTRUCTURING CHARGES	RESTRUCTURING CHARGES For the three and nine months ended September 30, 2017 , the Company has incurred $3.4 million and $8.8 million of restructuring expenses which primarily comprised of employee-related costs. Liabilities related to restructuring activities are included in accrued and other liabilities in the consolidated balance sheet. A rollforward of the Company’s accrual for restructuring activities for the nine months ended September 30, 2017 is as follows: Total Balance at December 31, 2016 $ 9,531 Restructuring charges 8,840 Cash payments and utilization (7,701 ) Impact of foreign currency 837 Balance at September 30, 2017 $ 11,507

Other Charges (Income), Net

Other Charges (Income), Net	9 Months Ended
	Sep. 30, 2017
Other Income and Expenses [Abstract]
OTHER CHARGES (INCOME), NET	OTHER CHARGES (INCOME), NET Other charges (income), net includes $1.7 million and $1.1 million of acquisition costs for the three and nine months ended September 30, 2017 and 2016, respectively. The nine months ended September 30, 2017 also includes a one-time gain of $3.4 million relating to the sale of a facility in Switzerland in connection with the Company's initiative to consolidate certain Swiss operations into a new facility, while the nine months ended September 30, 2016 includes a one-time non-cash pension settlement charge of $8.2 million related to a lump sum offering to former employees of the Company's U.S. pension plan. Other charges (income), net also includes (gains) losses from foreign currency transactions and hedging activities, interest income, and other items.

Segment Reporting

Segment Reporting	9 Months Ended
	Sep. 30, 2017
Segment Reporting [Abstract]
SEGMENT REPORTING	SEGMENT REPORTING As disclosed in Note 16 to the Company's consolidated financial statements for the year ended December 31, 2016 , the Company has determined there are five reportable segments: U.S. Operations, Swiss Operations, Western European Operations, Chinese Operations and Other. The Company evaluates segment performance based on Segment Profit (gross profit less research and development and selling, general and administrative expenses, before amortization, interest expense, restructuring charges, other charges (income), net and taxes). The following tables show the operations of the Company’s operating segments: Net Sales to Net Sales to As of September 30, For the three months ended External Other Total Net Segment 2017 September 30, 2017 Customers Segments Sales Profit Goodwill U.S. Operations $ 239,221 $ 24,187 $ 263,408 $ 43,004 $ 409,172 Swiss Operations 33,923 136,960 170,883 39,213 22,252 Western European Operations 171,722 40,287 212,009 30,885 90,832 Chinese Operations 125,067 68,625 193,692 69,086 673 Other (a) 128,866 1,754 130,620 16,776 15,489 Eliminations and Corporate (b) — (271,813 ) (271,813 ) (36,079 ) — Total $ 698,799 $ — $ 698,799 $ 162,885 $ 538,418 Net Sales to Net Sales to For the nine months ended External Other Total Net Segment September 30, 2017 Customers Segments Sales Profit U.S. Operations $ 693,405 $ 69,692 $ 763,097 $ 126,973 Swiss Operations 95,957 395,859 491,816 113,181 Western European Operations 470,206 127,112 597,318 77,283 Chinese Operations 323,940 178,593 502,533 167,873 Other (a) 363,514 5,481 368,995 45,106 Eliminations and Corporate (b) — (776,737 ) (776,737 ) (91,649 ) Total $ 1,947,022 $ — $ 1,947,022 $ 438,767 (a) Other includes reporting units in Eastern Europe, Latin America, Southeast Asia and other countries. (b) Eliminations and Corporate includes the elimination of inter-segment transactions and certain corporate expenses and intercompany investments, which are not included in the Company’s operating segments. Net Sales to Net Sales to As of September 30, For the three months ended External Other Total Net Segment 2016 September 30, 2016 Customers Segments Sales Profit Goodwill U.S. Operations $ 235,715 $ 20,151 $ 255,866 $ 43,779 $ 356,089 Swiss Operations 32,390 127,569 159,959 36,854 22,280 Western European Operations 159,025 43,816 202,841 30,218 87,403 Chinese Operations 99,349 62,368 161,717 51,669 669 Other (a) 124,119 1,770 125,889 16,721 15,703 Eliminations and Corporate (b) — (255,674 ) (255,674 ) (27,566 ) — Total $ 650,598 $ — $ 650,598 $ 151,675 $ 482,144 Net Sales to Net Sales to For the nine months ended External Other Total Net Segment September 30, 2016 Customers Segments Sales Profit U.S. Operations $ 640,618 $ 61,884 $ 702,502 $ 114,046 Swiss Operations 90,075 374,863 464,938 107,673 Western European Operations 450,940 121,308 572,248 74,711 Chinese Operations 277,182 166,948 444,130 134,229 Other (a) 339,743 4,824 344,567 41,064 Eliminations and Corporate (b) — (729,827 ) (729,827 ) (88,958 ) Total $ 1,798,558 $ — $ 1,798,558 $ 382,765 (a) Other includes reporting units in Eastern Europe, Latin America, Southeast Asia and other countries. (b) Eliminations and Corporate includes the elimination of inter-segment transactions and certain corporate expenses and intercompany investments, which are not included in the Company’s operating segments. A reconciliation of earnings before taxes to segment profit for the three and nine month periods ended September 30 follows: Three Months Ended Nine Months Ended 2017 2016 2017 2016 Earnings before taxes $ 139,627 $ 133,324 $ 380,322 $ 322,909 Amortization 10,716 9,087 31,010 26,166 Interest expense 8,248 7,167 24,160 20,619 Restructuring charges 3,385 1,494 8,840 4,579 Other charges (income), net 909 603 (5,565 ) 8,492 Segment profit $ 162,885 $ 151,675 $ 438,767 $ 382,765 During the three months ended September 30, 2017 , restructuring charges of $3.4 million were recognized, of which $1.7 million , $0.2 million , $1.3 million , and $0.2 million related to the Company’s U.S., Swiss, Western European and Chinese Operations, respectively. Restructuring charges of $1.5 million were recognized during the three months ended September 30, 2016 , of which $0.6 million , $0.3 million , $0.5 million and $0.1 million related to the Company’s U.S., Swiss, Western European and Other Operations, respectively. Restructuring charges of $8.8 million were recognized during the nine months ended September 30, 2017 , of which $4.7 million , $1.1 million , $2.0 million , $0.3 million , and $0.8 million related to the Company’s U.S., Swiss, Western European, Chinese, and Other Operations, respectively. Restructuring charges of $4.6 million were recognized during the nine months ended September 30, 2016 , of which $1.7 million , $0.9 million , $1.7 million , $0.1 million and $ 0.2 million related to the Company’s U.S., Swiss, Western European, Chinese and Other Operations, respectively.

Contingencies

Contingencies	9 Months Ended
	Sep. 30, 2017
Commitments and Contingencies Disclosure [Abstract]
CONTINGENCIES	CONTINGENCIES The Company is party to various legal proceedings, including certain environmental matters, incidental to the normal course of business. Management does not expect that any of such proceedings, either individually or in the aggregate, will have a material adverse effect on the Company’s financial condition, results of operations or cash flows.

Summary of Significant Accoun22

Summary of Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2017
Accounting Policies [Abstract]
Trade Accounts Receivable	Trade Accounts Receivable Trade accounts receivable are recorded at the invoiced amount and do not bear interest. The allowance for doubtful accounts represents the Company’s best estimate of probable credit losses in its existing trade accounts receivable. The Company determines the allowance based upon a review of both specific accounts for collection and the age of the accounts receivable portfolio.
Inventories	Inventories Inventories are valued at the lower of cost or net realizable value. Cost, which includes direct materials, labor and overhead, is generally determined using the first in, first out (FIFO) method. The estimated net realizable value is based on assumptions for future demand and related pricing. Adjustments to the cost basis of the Company’s inventory are made for excess and obsolete items based on usage, orders and technological obsolescence. If actual market conditions are less favorable than those projected by management, reductions in the value of inventory may be required. Inventories consisted of the following: September 30, December 31, Raw materials and parts $ 119,148 $ 100,408 Work-in-progress 50,212 41,454 Finished goods 94,167 80,185 $ 263,527 $ 222,047
Goodwill and Other Intangible Assets	Goodwill and Other Intangible Assets Goodwill, representing the excess of purchase price over the net asset value of companies acquired, and indefinite-lived intangible assets are not amortized, but are reviewed for impairment annually in the fourth quarter, or more frequently if events or changes in circumstances indicate that an asset might be impaired. The annual evaluation for goodwill and indefinite-lived intangible assets are generally based on an assessment of qualitative and quantitative factors to determine whether it is more likely than not that the fair value of the asset is less than its carrying amount. Other intangible assets include indefinite-lived assets and assets subject to amortization. Where applicable, amortization is charged on a straight-line basis over the expected period of benefit. The straight-line method of amortization reflects an appropriate allocation of the cost of the intangible assets to earnings in proportion to the amount of economic benefits obtained by the Company in each reporting period. The Company assesses the initial acquisition of intangible assets in accordance with the provisions of ASC 805 "Business Combinations" and the continued accounting for previously recognized intangible assets and goodwill in accordance with the provisions of ASC 350 "Intangible - Goodwill and Other" and ASC 360 "Property, Plant and Equipment". Other intangible assets consisted of the following: September 30, 2017 December 31, 2016 Gross Amount Accumulated Amortization Intangibles, Net Gross Amount Accumulated Amortization Intangibles, Net Customer relationships $ 198,355 $ (39,757 ) $ 158,598 $ 147,466 $ (34,672 ) $ 112,794 Proven technology and patents 70,169 (37,711 ) 32,458 58,394 (35,128 ) 23,266 Tradename (finite life) 4,486 (2,765 ) 1,721 4,182 (2,514 ) 1,668 Tradename (indefinite life) 35,603 — 35,603 28,272 — 28,272 Other 3,673 (2,078 ) 1,595 2,871 (1,816 ) 1,055 $ 312,286 $ (82,311 ) $ 229,975 $ 241,185 $ (74,130 ) $ 167,055 The Company recognized amortization expense associated with the above intangible assets of $2.9 million and $2.2 million for the three months ended September 30, 2017 and 2016 , respectively and $7.9 million and $5.8 million for the nine months ended September 30, 2017 and 2016 , respectively. The annual aggregate amortization expense based on the current balance of other intangible assets is estimated at $11.4 million for 2017 , $13.7 million for 2018 , $13.3 million for 2019 , $12.9 million for 2020 , $12.3 million for 2021 and $11.7 million for 2022 . Purchased intangible amortization was $2.6 million , $1.7 million after tax, and $2.0 million , $1.3 million after tax, for the three months ended September 30, 2017 and 2016 , respectively and $7.2 million , $4.7 million after tax, and $5.2 million , $3.5 million after tax, for the nine months ended September 30, 2017 and 2016 , respectively. In addition to the above amortization, the Company recorded amortization expense associated with capitalized software of $7.7 million and $6.8 million for the three months ended September 30, 2017 and 2016 , respectively and $22.9 million and $20.2 million for the nine months ended September 30, 2017 and 2016 , respectively.
Revenue Recognition	Revenue Recognition Revenue is recognized when title to a product has transferred and any significant customer obligations have been fulfilled. Standard shipping terms are generally FOB shipping point in most countries and, accordingly, title and risk of loss transfers upon shipment. In countries where title cannot legally transfer before delivery, the Company defers revenue recognition until delivery has occurred. The Company generally maintains the right to accept or reject a product return in its terms and conditions and also maintains appropriate accruals for outstanding credits. Shipping and handling costs charged to customers are included in total net sales and the associated expense is recorded in cost of sales for all periods presented. Other than a few small software applications, the Company does not sell software products without the related hardware instrument as the software is embedded in the instrument. The Company’s products typically require no significant production, modification or customization of the hardware or software that is essential to the functionality of the products. To the extent the Company’s solutions have a post-shipment obligation, revenue is deferred until the obligation has been completed. The Company defers product revenue where installation is required, unless such installation is deemed perfunctory. The Company also sometimes enters into certain arrangements that require the separate delivery of multiple goods and/or services. These deliverables are accounted for separately if the deliverables have standalone value and the performance of undelivered items is probable and within the Company's control. The allocation of revenue between the separate deliverables is typically based on the relative selling price at the time of the sale in accordance with a number of factors including service technician billing rates, time to install and geographic location. Further, certain products are also sold through indirect distribution channels whereby the distributor assumes any further obligations to the customer upon title transfer. Revenue is recognized on these products upon transfer of title and risk of loss to its distributors. Distributor discounts are offset against revenue at the time such revenue is recognized. Service revenue not under contract is recognized upon the completion of the service performed. Spare parts sold on a stand-alone basis are recognized upon title and risk of loss transfer which is generally at the time of shipment. Revenues from service contracts are recognized ratably over the contract period. These contracts represent an obligation to perform repair and other services including regulatory compliance qualification, calibration, certification and preventative maintenance on a customer’s pre-defined equipment over the contract period. Service contracts are separately priced and payment is typically received from the customer at the beginning of the contract period.
Warranty	Warranty The Company generally offers one -year warranties on most of its products. Product warranties are recorded at the time revenue is recognized. While the Company engages in extensive product quality programs and processes, its warranty obligations are affected by product failure rates, material usage and service costs incurred in correcting a product failure.
Employee Termination Benefits	Employee Termination Benefits In situations where contractual termination benefits exist, the Company records accruals for employee termination benefits when it is probable that a liability has been incurred and the amount of the liability is reasonably estimable. All other employee termination arrangements are recognized and measured at their fair value at the communication date unless the employee is required to render additional service beyond the legal notification period, in which case the liability is recognized ratably over the future service period.
Share - Based Compensation	Share-Based Compensation The Company recognizes share-based compensation expense within selling, general and administrative in the consolidated statements of operations and other comprehensive income with a corresponding offset to additional paid-in capital in the consolidated balance sheet. The Company recorded $4.0 million and $11.8 million of share-based compensation expense for the three and nine months ended September 30, 2017 , respectively, compared to $3.6 million and $10.9 million for the corresponding periods in 2016 .
Research and Development	Research and Development Research and development costs primarily consist of salaries, consulting and other costs. The Company expenses these costs as incurred.
Business Combinations Policy [Policy Text Block]	Business Combinations and Asset Acquisitions The Company accounts for business acquisitions under the accounting standards for business combinations. The results of each acquisition are included in the Company's consolidated results as of the acquisition date and the purchase price of an acquisition is allocated to tangible and intangible assets and assumed liabilities based on their estimated fair values and any excess consideration of the net assets acquired is recognized as goodwill. Acquisition transaction costs are expensed when incurred. In circumstances where an acquisition involves a contingent consideration arrangement, the Company recognizes a liability equal to the fair value of the expected contingent payments as of the acquisition date. Changes in the fair value of the contingent consideration are recorded to other charges (income), net.
New Accounting Pronouncements, Policy [Policy Text Block]	Recent Accounting Pronouncements In January 2017, the Company adopted ASU 2016-09, to ASC 718 "Compensation - Stock Compensation." The primary impact of adoption was the recognition of excess tax benefits from stock option exercises within the provision for taxes rather than within shareholder's equity, and a change in the determination of diluted earnings per common share. The Company adopted the guidance on a prospective basis, and expects its estimated annual tax rate will be reduced by 2% in 2017. The adoption of this guidance also increased the Company's income tax rate by approximately 1% for the three months ending September 30, 2017 and reduced the Company's income tax rate by approximately 3% for the nine months ending September 30, 2017. In addition, the Company recognized additional deferred tax assets of $1.5 million as a cumulative adjustment within shareholder's equity. The Company also classified on a retrospective basis the excess tax benefits from stock option exercises of $17.2 million as operating activities in the prior period Statements of Cash Flows. For additional disclosure, see Note 6 to the interim consolidated financial statements. The FASB issued ASU 2014-09, ASU 2016-10 and ASU 2016-12 to ASC 606 "Revenue from Contracts with Customers." ASU 2014-09 provides authoritative guidance clarifying the principles for recognizing revenue and developing a common revenue standard for U.S. GAAP. The core principle of the guidance is that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods and services. Additionally, the guidance requires improved disclosure to help users of financial statements better understand the nature, amount, timing, and uncertainty of revenue that is recognized. ASU 2016-10 provides guidance for identifying performance obligations as they pertain to immaterial promised goods or services, shipping and handling activities, and identifying when promises represent performance obligations. ASU 2016-12 provides guidance for assessing collectability, presentation of sales taxes, noncash considerations, and completed contract modifications at transition. The guidance becomes effective for the Company for the year beginning January 1, 2018. The Company is finalizing its evaluation of the impact of the adoption of this guidance and believes it will have an immaterial impact on the Company's consolidated results of operations and financial position. The estimated impact to the Company's results is expected to be immaterial because most of its performance obligations are satisfied at the time of title transfer and risk of loss to the customer which is generally upon shipment. In addition, contracts with end-customers typically do not exceed a year, and generally pertain to service contracts that represent an obligation to perform repair or other services on a customer's pre-defined equipment over the contract period. The Company also sometimes enters into contracts with end-customers that comprise arrangements that require separate delivery of multiple goods and/or services, including post-shipment obligations such as installation. Immaterial impacts from adopting the new standard include the recognition of certain revenue for performance obligations that were deferred until post-shipment obligations were completed. The number of performance obligations under the new standard is also not materially different from the Company's financial accounting and reporting model under the existing standard. The Company is still evaluating the adoption method it will elect upon implementation. The Company is also in the process of implementing appropriate changes to its business processes, systems and controls to support recognition and disclosures under the new standard. In March 2017, the FASB issued ASU 2017-7, to ASC 715 "Compensation-Retirement Benefits," which will require the Company to report the non-service cost components of net periodic benefit cost in other charges (income), net. The new guidance must be applied retrospectively and becomes effective for the year beginning January 1, 2018. The Company expects the impact of this guidance will be immaterial. In February 2016, the FASB issued ASU 2016-02 to ASC 842 "Leases." The accounting guidance primarily requires lessees to recognize most leases on their balance sheet as a right to use asset and a lease liability, with the exception of short term leases. A lessee will continue to recognize lease expense on a straight-line basis for leases classified as operating leases. The guidance becomes effective for fiscal years beginning after December 15, 2018 and must be applied on a retrospective basis with early adoption permitted. The Company is currently evaluating the impact of this guidance on the financial statements and the timing of adoption. In August 2017, the FASB issued ASU 2017-12 to ASC 815 "Derivatives and Hedging" which modifies hedge accounting by making more hedge strategies eligible for hedge accounting, amending presentation and disclosure requirements, and changing how companies assess effectiveness. The intent is to simplify the application of hedge accounting and increase transparency of information about an entity’s risk management activities. The amended guidance is effective for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. Early adoption is permitted. The Company is currently evaluating the impact of the adoption of this guidance and believes it will have an immaterial impact on the Company's consolidated results of operations and financial position.

Summary of Significant Accoun23

Summary of Significant Accounting Policies (Tables)	9 Months Ended
	Sep. 30, 2017
Accounting Policies [Abstract]
Components of inventories	Inventories consisted of the following: September 30, December 31, Raw materials and parts $ 119,148 $ 100,408 Work-in-progress 50,212 41,454 Finished goods 94,167 80,185 $ 263,527 $ 222,047
Components of other intangible assets	Other intangible assets consisted of the following: September 30, 2017 December 31, 2016 Gross Amount Accumulated Amortization Intangibles, Net Gross Amount Accumulated Amortization Intangibles, Net Customer relationships $ 198,355 $ (39,757 ) $ 158,598 $ 147,466 $ (34,672 ) $ 112,794 Proven technology and patents 70,169 (37,711 ) 32,458 58,394 (35,128 ) 23,266 Tradename (finite life) 4,486 (2,765 ) 1,721 4,182 (2,514 ) 1,668 Tradename (indefinite life) 35,603 — 35,603 28,272 — 28,272 Other 3,673 (2,078 ) 1,595 2,871 (1,816 ) 1,055 $ 312,286 $ (82,311 ) $ 229,975 $ 241,185 $ (74,130 ) $ 167,055

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
	Sep. 30, 2017
Fair Value Disclosures [Abstract]
Assets and liabilities measured at fair value on a recurring basis	The following table presents for each of these hierarchy levels, the Company’s assets and liabilities that are measured at fair value on a recurring basis at September 30, 2017 and December 31, 2016 : September 30, 2017 December 31, 2016 Total Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Assets: Cash equivalents $ 33,917 $ — $ 33,917 $ — $ 21,513 $ — $ 21,513 $ — Foreign currency forward contracts not designated as hedging instruments 756 — 756 — 791 — 791 — Total $ 34,673 $ — $ 34,673 $ — $ 22,304 $ — $ 22,304 $ — Liabilities: Interest rate swap agreements $ 2,985 $ — $ 2,985 $ — $ 3,630 $ — $ 3,630 $ — Cross currency swap agreement 826 — 826 — — — — — Foreign currency forward contracts not designated as hedging instruments 1,109 — 1,109 — 2,123 — 2,123 — Total $ 4,920 $ — $ 4,920 $ — $ 5,753 $ — $ 5,753 $ —

Debt (Tables)

Debt (Tables)	9 Months Ended
	Sep. 30, 2017
Debt Disclosure [Abstract]
Debt	Debt consisted of the following at September 30, 2017 : September 30, 2017 U.S. Dollar Other Principal Trading Currencies Total 3.67% $50 million Senior Notes due December 17, 2022 50,000 — 50,000 4.10% $50 million Senior Notes due September 19, 2023 50,000 — 50,000 3.84% $125 million Senior Notes due September 19, 2024 125,000 — 125,000 4.24% $125 million Senior Notes due June 25, 2025 125,000 — 125,000 1.47% EUR 125 million Senior Notes due June 17, 2030 — 146,956 146,956 Debt issuance costs, net (1,125 ) (364 ) (1,489 ) Total Senior Notes 348,875 146,592 495,467 $800 million Credit Agreement, interest at LIBOR plus 87.5 basis points 537,304 17,910 555,214 Other local arrangements — 18,533 18,533 Total debt 886,179 183,035 1,069,214 Less: current portion — (18,533 ) (18,533 ) Total long-term debt $ 886,179 $ 164,502 $ 1,050,681

Other Comprehensive Income (Tab

Other Comprehensive Income (Tables)	9 Months Ended
	Sep. 30, 2017
Other Comprehensive Income (Loss), Net of Tax [Abstract]
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block]	The following table presents changes in accumulated other comprehensive income by component for the nine months ended September 30, 2017 and 2016 : Currency Translation Adjustment, Net of Tax Net Unrealized Gain (Loss) on Cash Flow Hedging Arrangements, Net of Tax Pension and Post-Retirement Benefit Related Items, Net of Tax Total Balance at December 31, 2016 $ (115,322 ) $ (2,232 ) $ (237,444 ) $ (354,998 ) Other comprehensive income (loss), net of tax: Amounts recognized in accumulated other comprehensive income (loss), net of tax — (578 ) — (578 ) Foreign currency translation adjustment 78,447 — (12,054 ) 66,393 Amounts recognized from accumulated other comprehensive income (loss), net of tax — 365 11,181 11,546 Net change in other comprehensive income (loss), net of tax 78,447 (213 ) (873 ) 77,361 Balance at September 30, 2017 $ (36,875 ) $ (2,445 ) $ (238,317 ) $ (277,637 )
Disclosure of Reclassification Amount [Text Block]	The following table presents amounts recognized from accumulated other comprehensive income (loss) for the three and nine month periods ended September 30 : Three months ended September 30, 2017 2016 Location of Amounts Recognized in Earnings Effective portion of (gains) / losses on cash flow hedging arrangements: Interest rate swap agreements $ 424 $ 258 Interest expense Cross currency swap agreement (1,866 ) — (a) Foreign currency forward contracts — (1,601 ) Cost of sales - products Total before taxes (1,442 ) (1,343 ) Provision for taxes 18 (229 ) Provision for taxes Total, net of taxes $ (1,460 ) $ (1,114 ) Recognition of defined benefit pension and post-retirement items: Recognition of actuarial losses and prior service cost, before taxes $ 5,035 $ 3,996 (b) Provision for taxes 1,319 1,033 Provision for taxes Total, net of taxes $ 3,716 $ 2,963
Schedule of Comprehensive Income (Loss) [Table Text Block]	Comprehensive income (loss), net of tax consisted of the following as of September 30 : Three Months Ended Nine Months Ended 2017 2016 2017 2016 Net earnings $ 104,950 $ 101,332 $ 298,996 $ 246,594 Other comprehensive income (loss), net of tax 20,749 16,372 77,361 246 Comprehensive income, net of tax $ 125,699 $ 117,704 $ 376,357 $ 246,840

Earnings Per Common Share (Tabl

Earnings Per Common Share (Tables)	9 Months Ended
	Sep. 30, 2017
Earnings Per Share [Abstract]
Diluted weighted average number of common shares outstanding	In accordance with the treasury stock method, the Company has included the following common equivalent shares in the calculation of diluted weighted average number of common shares outstanding for the three and nine month periods ended September 30, relating to outstanding stock options and restricted stock units: 2017 2016 Three months ended 690,096 513,342 Nine months ended 682,205 508,512

Net Periodic Benefit Cost (Tabl

Net Periodic Benefit Cost (Tables)	9 Months Ended
	Sep. 30, 2017
Retirement Benefits [Abstract]
Schedule of Net Benefit Costs [Table Text Block]	Net periodic pension cost for the Company’s defined benefit pension plans and U.S. post-retirement medical plan includes the following components for the three months ended September 30 : U.S. Pension Benefits Non-U.S. Pension Benefits Other U.S. Post-retirement Benefits Total 2017 2016 2017 2016 2017 2016 2017 2016 Service cost, net $ 141 $ 103 $ 4,008 $ 4,216 $ — $ — 4,149 4,319 Interest cost on projected benefit obligations 1,094 1,014 2,269 2,542 18 19 3,381 3,575 Expected return on plan assets (1,684 ) (1,868 ) (7,910 ) (8,177 ) — — (9,594 ) (10,045 ) Recognition of prior service cost — — (1,611 ) (1,288 ) (195 ) (469 ) (1,806 ) (1,757 ) Recognition of actuarial losses/(gains) 1,639 1,907 5,676 4,519 (474 ) (673 ) 6,841 5,753 Net periodic pension cost/(credit) $ 1,190 $ 1,156 $ 2,432 $ 1,812 $ (651 ) $ (1,123 ) $ 2,971 $ 1,845 Net periodic pension cost for the Company’s defined benefit pension plans and U.S. post-retirement medical plan includes the following components for the nine months ended September 30 : U.S. Pension Benefits Non-U.S. Pension Benefits Other U.S. Post-retirement Benefits Total 2017 2016 2017 2016 2017 2016 2017 2016 Service cost, net $ 423 $ 328 $ 12,086 $ 12,606 $ — $ — 12,509 12,934 Interest cost on projected benefit obligations 3,282 3,414 6,294 7,967 54 57 9,630 11,438 Expected return on plan assets (5,052 ) (5,912 ) (22,795 ) (25,020 ) — — (27,847 ) (30,932 ) Recognition of prior service cost — — (4,439 ) (3,856 ) (585 ) (1,408 ) (5,024 ) (5,264 ) Recognition of actuarial losses/(gains) 4,917 5,699 16,657 13,585 (1,422 ) (2,019 ) 20,152 17,265 Settlement charge — 7,963 — — — — — 7,963 Net periodic pension cost/(credit) $ 3,570 $ 11,492 $ 7,803 $ 5,282 $ (1,953 ) $ (3,370 ) $ 9,420 $ 13,404

Restructuring Charges (Tables)

Restructuring Charges (Tables)	9 Months Ended
	Sep. 30, 2017
Restructuring Cost and Reserve [Line Items]
Company's accrual for restructuring activities	A rollforward of the Company’s accrual for restructuring activities for the nine months ended September 30, 2017 is as follows: Total Balance at December 31, 2016 $ 9,531 Restructuring charges 8,840 Cash payments and utilization (7,701 ) Impact of foreign currency 837 Balance at September 30, 2017 $ 11,507

Segment Reporting (Tables)

Segment Reporting (Tables)	9 Months Ended
	Sep. 30, 2017
Operations of the Company's operating segments	The following tables show the operations of the Company’s operating segments: Net Sales to Net Sales to As of September 30, For the three months ended External Other Total Net Segment 2017 September 30, 2017 Customers Segments Sales Profit Goodwill U.S. Operations $ 239,221 $ 24,187 $ 263,408 $ 43,004 $ 409,172 Swiss Operations 33,923 136,960 170,883 39,213 22,252 Western European Operations 171,722 40,287 212,009 30,885 90,832 Chinese Operations 125,067 68,625 193,692 69,086 673 Other (a) 128,866 1,754 130,620 16,776 15,489 Eliminations and Corporate (b) — (271,813 ) (271,813 ) (36,079 ) — Total $ 698,799 $ — $ 698,799 $ 162,885 $ 538,418 Net Sales to Net Sales to For the nine months ended External Other Total Net Segment September 30, 2017 Customers Segments Sales Profit U.S. Operations $ 693,405 $ 69,692 $ 763,097 $ 126,973 Swiss Operations 95,957 395,859 491,816 113,181 Western European Operations 470,206 127,112 597,318 77,283 Chinese Operations 323,940 178,593 502,533 167,873 Other (a) 363,514 5,481 368,995 45,106 Eliminations and Corporate (b) — (776,737 ) (776,737 ) (91,649 ) Total $ 1,947,022 $ — $ 1,947,022 $ 438,767 (a) Other includes reporting units in Eastern Europe, Latin America, Southeast Asia and other countries. (b) Eliminations and Corporate includes the elimination of inter-segment transactions and certain corporate expenses and intercompany investments, which are not included in the Company’s operating segments. Net Sales to Net Sales to As of September 30, For the three months ended External Other Total Net Segment 2016 September 30, 2016 Customers Segments Sales Profit Goodwill U.S. Operations $ 235,715 $ 20,151 $ 255,866 $ 43,779 $ 356,089 Swiss Operations 32,390 127,569 159,959 36,854 22,280 Western European Operations 159,025 43,816 202,841 30,218 87,403 Chinese Operations 99,349 62,368 161,717 51,669 669 Other (a) 124,119 1,770 125,889 16,721 15,703 Eliminations and Corporate (b) — (255,674 ) (255,674 ) (27,566 ) — Total $ 650,598 $ — $ 650,598 $ 151,675 $ 482,144 Net Sales to Net Sales to For the nine months ended External Other Total Net Segment September 30, 2016 Customers Segments Sales Profit U.S. Operations $ 640,618 $ 61,884 $ 702,502 $ 114,046 Swiss Operations 90,075 374,863 464,938 107,673 Western European Operations 450,940 121,308 572,248 74,711 Chinese Operations 277,182 166,948 444,130 134,229 Other (a) 339,743 4,824 344,567 41,064 Eliminations and Corporate (b) — (729,827 ) (729,827 ) (88,958 ) Total $ 1,798,558 $ — $ 1,798,558 $ 382,765 (a) Other includes reporting units in Eastern Europe, Latin America, Southeast Asia and other countries. (b) Eliminations and Corporate includes the elimination of inter-segment transactions and certain corporate expenses and intercompany investments, which are not included in the Company’s operating segments.
Reconciliation of earnings before taxes to segment profit	A reconciliation of earnings before taxes to segment profit for the three and nine month periods ended September 30 follows: Three Months Ended Nine Months Ended 2017 2016 2017 2016 Earnings before taxes $ 139,627 $ 133,324 $ 380,322 $ 322,909 Amortization 10,716 9,087 31,010 26,166 Interest expense 8,248 7,167 24,160 20,619 Restructuring charges 3,385 1,494 8,840 4,579 Other charges (income), net 909 603 (5,565 ) 8,492 Segment profit $ 162,885 $ 151,675 $ 438,767 $ 382,765

Summary of Significant Accoun31

Summary of Significant Accounting Policies (Details) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Components of inventory
Raw materials and parts	$ 119,148	$ 100,408
Work-in-progress	50,212	41,454
Finished goods	94,167	80,185
Total Inventory, Net	$ 263,527	$ 222,047

Summary of Significant Accoun32

Summary of Significant Accounting Policies (Details 1) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Intangible Assets [Line Items]
Intangible Assets, Gross (Excluding Goodwill)	$ 312,286	$ 241,185
Accumulated Amortization	(82,311)	(74,130)
Intangible Assets, Net (Excluding Goodwill)	229,975	167,055
Trade Names [Member]
Intangible Assets [Line Items]
Gross amount, Tradename (indefinite life)	35,603	28,272
Intangible Assets, Net (Excluding Goodwill)	35,603	28,272
Customer Relationships [Member]
Intangible Assets [Line Items]
Gross amount	198,355	147,466
Accumulated Amortization	(39,757)	(34,672)
Intangible Assets, Net (Excluding Goodwill)	158,598	112,794
Proven technology and patents [Member]
Intangible Assets [Line Items]
Gross amount	70,169	58,394
Accumulated Amortization	(37,711)	(35,128)
Intangible Assets, Net (Excluding Goodwill)	32,458	23,266
Trade Names [Member]
Intangible Assets [Line Items]
Gross amount	4,486	4,182
Accumulated Amortization	(2,765)	(2,514)
Intangible Assets, Net (Excluding Goodwill)	1,721	1,668
Other Intangible Assets [Member]
Intangible Assets [Line Items]
Gross amount	3,673	2,871
Accumulated Amortization	(2,078)	(1,816)
Intangible Assets, Net (Excluding Goodwill)	$ 1,595	$ 1,055

Summary of Significant Accoun33

Summary of Significant Accounting Policies (Details Textuals) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Effective Income Tax Rate Reconciliation, Percent	22.00%		22.00%
Summary of Significant Accounting Policies (Textuals) [Abstract]
Amortization expense	$ 2.9	$ 2.2	$ 7.9	$ 5.8
Future Amortization Expense Current Year			11.4
Aggregate amortization expense for 2018	13.7		13.7
Aggregate amortization expense for 2019	13.3		13.3
Aggregate amortization expense for 2020	12.9		12.9
Aggregate amortization expense for 2021	12.3		12.3
Aggregate amortization expense for 2022	11.7		11.7
Purchased Intangible Amortization, Gross	2.6	2	7.2	5.2
Purchased intangible amortization, net of tax	1.7	1.3	4.7	3.5
Amortization expense associated with capitalized software	7.7	6.8	$ 22.9	20.2
Standard Warranty Period			one
Share - based compensation expense	$ 4	$ 3.6	$ 11.8	$ 10.9
Impact to Expected Annual Tax Rate related to adopting ASU 2016-09			2.00%
Impact to the Estimated Annual Tax Rate related to the adoption of ASU 2016-09.	1.00%		3.00%
Income Tax Effects Allocated Directly to Equity, Cumulative Effect of Change in Accounting Principle			$ 1,539
Excess Tax Benefit from Share-based Compensation, Financing Activities			$ 17.2

Business Combination (Details)

Business Combination (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016	Dec. 31, 2016
Business Acquisition [Line Items]
Goodwill	$ 538,418	$ 482,144	$ 538,418	$ 482,144	$ 476,378
Amortization of Intangible Assets	2,900	$ 2,200	7,900	$ 5,800
BIOTIX [Member]
Business Acquisition [Line Items]
Payments to Acquire Businesses, Gross			105,000
Business Combination, Contingent Consideration Arrangements, Range of Outcomes, Value, High	65,000		65,000
Business Combination, Contingent Consideration, Liability	30,700		30,700
Goodwill	51,300		51,300
Amortization of Intangible Assets			3,700
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net	19,200		19,200
Other Acquisitions [Member]
Business Acquisition [Line Items]
Payments to Acquire Businesses, Gross			0
Goodwill	0		0
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net	$ 0		$ 0
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life			12 years
Customer Relationships [Member] | BIOTIX [Member]
Business Acquisition [Line Items]
Finite-lived Intangible Assets Acquired			$ 49,500
Technology-Based Intangible Assets [Member] | BIOTIX [Member]
Business Acquisition [Line Items]
Finite-lived Intangible Assets Acquired			8,000
Technology-Based Intangible Assets [Member] | Other Acquisitions [Member]
Business Acquisition [Line Items]
Finite-lived Intangible Assets Acquired			0
Trade Names [Member] | BIOTIX [Member]
Business Acquisition [Line Items]
Indefinite-lived Intangible Assets Acquired			7,100
Other Intangible Assets [Member] | BIOTIX [Member]
Business Acquisition [Line Items]
Finite-lived Intangible Assets Acquired			$ 600
Minimum [Member] | BIOTIX [Member]
Business Acquisition [Line Items]
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life			5 years
Maximum [Member] | BIOTIX [Member]
Business Acquisition [Line Items]
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life			18 years

Financial Instruments Financial

Financial Instruments Financial Instruments Textual (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2017	Sep. 30, 2017	Sep. 30, 2016	Dec. 31, 2016
Derivative [Line Items]
Cash Flow Hedge Gain (Loss) to be Reclassified within Twelve Months		$ 1,400
Designated as Hedging Instrument [Member] | Cross Currency Swap [Member]
Derivative [Line Items]
Line Of Credit Facility Forecasted Borrowing Amount	$ 100,000	$ 100,000
Derivative, Fixed Interest Rate	0.01%	0.01%
Gain (Loss) on Foreign Currency Cash Flow Hedge Ineffectiveness	$ 0	$ 0
Designated as Hedging Instrument [Member] | 2.52% $50 Million Interest Rate Swap [Member]
Derivative [Line Items]
Line Of Credit Facility Forecasted Borrowing Amount	$ 50,000	$ 50,000
Derivative, Fixed Interest Rate	2.52%	2.52%
Gain (Loss) on Interest Rate Cash Flow Hedge Ineffectiveness	$ 0	$ 0
Designated as Hedging Instrument [Member] | 2.25% $100 Million Interest Rate Swap [Member]
Derivative [Line Items]
Line Of Credit Facility Forecasted Borrowing Amount	$ 100,000	$ 100,000
Derivative, Fixed Interest Rate	2.25%	2.25%
Gain (Loss) on Interest Rate Cash Flow Hedge Ineffectiveness	$ 0	$ 0
Not Designated as Hedging Instrument [Member]
Derivative [Line Items]
Derivative, Notional Amount	358,900	358,900		$ 353,000
Gain (Loss) on Foreign Currency Derivative Instruments Not Designated as Hedging Instruments	$ (4,500)	$ (6,300)	$ 700

Fair Value Measurements (Detail

Fair Value Measurements (Details) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Assets:
Cash Equivalents	$ 33,900	$ 21,500
Fair Value, Inputs, Level 3 [Member]
Liabilities:
Business Combination, Contingent Consideration, Liability	0
Fair Value, Measurements, Recurring [Member]
Assets:
Foreign Currency Derivative Instruments Not Designated As Hedging Instruments Asset At Fair Value	756	791
Total Assets at Fair Value	34,673	22,304
Liabilities:
Interest Rate Cash Flow Hedge Liability at Fair Value	2,985	3,630
Foreign Currency Cash Flow Hedge Liability at Fair Value	826	0
Foreign Currency Derivative Instruments Not Designated As Hedging Instruments Liability At Fair Value	1,109	2,123
Liabilities at Fair Value	4,920	5,753
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member]
Assets:
Cash Equivalents	0	0
Foreign Currency Derivative Instruments Not Designated As Hedging Instruments Asset At Fair Value	0	0
Total Assets at Fair Value	0	0
Liabilities:
Interest Rate Cash Flow Hedge Liability at Fair Value	0	0
Foreign Currency Cash Flow Hedge Liability at Fair Value	0	0
Foreign Currency Derivative Instruments Not Designated As Hedging Instruments Liability At Fair Value	0	0
Liabilities at Fair Value	0	0
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member]
Assets:
Cash Equivalents	33,917	21,513
Foreign Currency Derivative Instruments Not Designated As Hedging Instruments Asset At Fair Value	756	791
Total Assets at Fair Value	34,673	22,304
Liabilities:
Interest Rate Cash Flow Hedge Liability at Fair Value	2,985	3,630
Foreign Currency Cash Flow Hedge Liability at Fair Value	826	0
Foreign Currency Derivative Instruments Not Designated As Hedging Instruments Liability At Fair Value	1,109	2,123
Liabilities at Fair Value	4,920	5,753
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member]
Assets:
Cash Equivalents	0	0
Foreign Currency Derivative Instruments Not Designated As Hedging Instruments Asset At Fair Value	0	0
Total Assets at Fair Value	0	0
Liabilities:
Interest Rate Cash Flow Hedge Liability at Fair Value	0	0
Foreign Currency Cash Flow Hedge Liability at Fair Value	0	0
Foreign Currency Derivative Instruments Not Designated As Hedging Instruments Liability At Fair Value	0	0
Liabilities at Fair Value	$ 0	$ 0

Fair Value Measurements (Deta37

Fair Value Measurements (Details Textuals) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Derivative Asset	$ 800
Cash Equivalents	33,900	$ 21,500
Change in Carrying Value Verse Fair Value of Long Term Debt	9,100	4,200
Fair Value, Measurements, Recurring [Member]
Liabilities at Fair Value	4,920	5,753
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member]
Liabilities at Fair Value	0	0
Cash Equivalents	$ 0	$ 0

Income Taxes (Details)

Income Taxes (Details)	3 Months Ended	9 Months Ended
	Sep. 30, 2017	Sep. 30, 2017
Effective Income Tax Rate Reconciliation, Percent	22.00%	22.00%

Debt (Details)

Debt (Details) € in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017USD ($)Rate	Sep. 30, 2016USD ($)	Sep. 30, 2017USD ($)Rate	Sep. 30, 2016USD ($)	Sep. 30, 2017EUR (€)Rate
Long-Term Debt, by Current and Noncurrent, and Short-Term Debt
Senior Notes	$ 495,467		$ 495,467
Unamortized Debt Issuance Expense	(1,489)		(1,489)
Total debt	1,069,214		1,069,214
Debt, Current	18,533		18,533
Long-term Debt	1,050,681		1,050,681
Repayments of borrowings			(834,061)	$ (455,913)
Gain (Loss) on Derivative Used in Net Investment Hedge, Net of Tax	5,000	$ 2,000	15,500	$ 3,600
Line of Credit Facility, Remaining Borrowing Capacity	238,600		238,600
Us Dollar Amounts Member
Long-Term Debt, by Current and Noncurrent, and Short-Term Debt
Senior Notes	348,875		348,875
Unamortized Debt Issuance Expense	(1,125)		(1,125)
Total debt	886,179		886,179
Debt, Current	0		0
Long-term Debt	886,179		886,179
Other Principal Trading Currencies [Member]
Long-Term Debt, by Current and Noncurrent, and Short-Term Debt
Senior Notes	146,592		146,592
Unamortized Debt Issuance Expense	(364)		(364)
Total debt	183,035		183,035
Debt, Current	18,533		18,533
Long-term Debt	$ 164,502		$ 164,502
3.67% Senior Notes [Member]
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage | Rate	3.67%		3.67%		3.67%
Debt Instrument, Maturity Date			Dec. 17, 2022
Long-Term Debt, by Current and Noncurrent, and Short-Term Debt
Senior Notes	$ 50,000		$ 50,000
3.67% Senior Notes [Member] | Us Dollar Amounts Member
Long-Term Debt, by Current and Noncurrent, and Short-Term Debt
Senior Notes	50,000		50,000
3.67% Senior Notes [Member] | Other Principal Trading Currencies [Member]
Long-Term Debt, by Current and Noncurrent, and Short-Term Debt
Senior Notes	$ 0		$ 0
4.10% Senior Notes [Member]
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage | Rate	4.10%		4.10%		4.10%
Debt Instrument, Maturity Date			Sep. 19, 2023
Long-Term Debt, by Current and Noncurrent, and Short-Term Debt
Senior Notes	$ 50,000		$ 50,000
4.10% Senior Notes [Member] | Us Dollar Amounts Member
Long-Term Debt, by Current and Noncurrent, and Short-Term Debt
Senior Notes	50,000		50,000
4.10% Senior Notes [Member] | Other Principal Trading Currencies [Member]
Long-Term Debt, by Current and Noncurrent, and Short-Term Debt
Senior Notes	$ 0		$ 0
3.84% Senior Notes [Member]
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage | Rate	3.84%		3.84%		3.84%
Debt Instrument, Maturity Date			Sep. 19, 2024
Long-Term Debt, by Current and Noncurrent, and Short-Term Debt
Senior Notes	$ 125,000		$ 125,000
3.84% Senior Notes [Member] | Us Dollar Amounts Member
Long-Term Debt, by Current and Noncurrent, and Short-Term Debt
Senior Notes	125,000		125,000
3.84% Senior Notes [Member] | Other Principal Trading Currencies [Member]
Long-Term Debt, by Current and Noncurrent, and Short-Term Debt
Senior Notes	$ 0		$ 0
4.24% Senior Notes [Member]
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage | Rate	4.24%		4.24%		4.24%
Debt Instrument, Maturity Date			Jun. 25, 2025
Long-Term Debt, by Current and Noncurrent, and Short-Term Debt
Senior Notes	$ 125,000		$ 125,000
4.24% Senior Notes [Member] | Us Dollar Amounts Member
Long-Term Debt, by Current and Noncurrent, and Short-Term Debt
Senior Notes	125,000		125,000
4.24% Senior Notes [Member] | Other Principal Trading Currencies [Member]
Long-Term Debt, by Current and Noncurrent, and Short-Term Debt
Senior Notes	$ 0		$ 0
1.47% EURO Senior Notes [Member]
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage | Rate	1.47%		1.47%		1.47%
Debt Instrument, Maturity Date			Jun. 17, 2030
Long-Term Debt, by Current and Noncurrent, and Short-Term Debt
Senior Notes	$ 146,956		$ 146,956		€ 125,000
1.47% EURO Senior Notes [Member] | Us Dollar Amounts Member
Long-Term Debt, by Current and Noncurrent, and Short-Term Debt
Senior Notes	0		0
1.47% EURO Senior Notes [Member] | Other Principal Trading Currencies [Member]
Long-Term Debt, by Current and Noncurrent, and Short-Term Debt
Senior Notes	146,956		146,956
Credit facility [Member]
Long-Term Debt, by Current and Noncurrent, and Short-Term Debt
Line of Credit Facility, Fair Value of Amount Outstanding	555,214		555,214
Credit facility [Member] | Us Dollar Amounts Member
Long-Term Debt, by Current and Noncurrent, and Short-Term Debt
Line of Credit Facility, Fair Value of Amount Outstanding	537,304		537,304
Repayments of borrowings			(97,900)
Credit facility [Member] | Other Principal Trading Currencies [Member]
Long-Term Debt, by Current and Noncurrent, and Short-Term Debt
Line of Credit Facility, Fair Value of Amount Outstanding	17,910		17,910
Other local arrangements [Member]
Long-Term Debt, by Current and Noncurrent, and Short-Term Debt
Other Borrowings	18,533		18,533
Other local arrangements [Member] | Us Dollar Amounts Member
Long-Term Debt, by Current and Noncurrent, and Short-Term Debt
Other Borrowings	0		0
Other local arrangements [Member] | Other Principal Trading Currencies [Member]
Long-Term Debt, by Current and Noncurrent, and Short-Term Debt
Other Borrowings	$ 18,533		$ 18,533

Share Repurchase Program and 40

Share Repurchase Program and Treasury Stock (Details) - USD ($) $ / shares in Units, $ in Thousands	9 Months Ended		12 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Dec. 31, 2016
Share Repurchase Program and Treasury Stock (Textuals) [Abstract]
Remaining Amount to Repurchase under the program	$ 648,400
Shares Purchased Under Share Repurchase Program	26,600,000
Treasury Stock, Value, Acquired, Cost Method	$ 334,998	$ 375,000	$ 499,992
Number of shares repurchased	(647,756)	(1,048,075)
Average price of share repurchased, per share	$ 517.15	$ 357.77
Exercise of stock options and restricted stock units, shares reissued	206,646	193,517

Other Comprehensive Income (Det

Other Comprehensive Income (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Dec. 31, 2016	Dec. 31, 2014
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated Other Comprehensive Income (Loss), Net of Tax	$ (277,637)	$ (266,403)	$ (354,998)	$ (266,649)
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax	(578)	(8,305)
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment, Net of Tax	66,393	(2,126)
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax	11,546	10,677
Other Comprehensive Income (Loss), Net of Tax	77,361	246
Accumulated Translation Adjustment [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated Other Comprehensive Income (Loss), Net of Tax	(36,875)	(57,232)	(115,322)	(57,394)
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax	0	0
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment, Net of Tax	78,447	162
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax	0	0
Other Comprehensive Income (Loss), Net of Tax	78,447	162
Accumulated Net Gain (Loss) from Designated or Qualifying Cash Flow Hedges [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated Other Comprehensive Income (Loss), Net of Tax	(2,445)	(4,082)	(2,232)	3,016
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax	(578)	(3,760)
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment, Net of Tax	0	(217)
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax	365	(3,121)
Other Comprehensive Income (Loss), Net of Tax	(213)	(7,098)
Accumulated Defined Benefit Plans Adjustment [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated Other Comprehensive Income (Loss), Net of Tax	(238,317)	(205,089)	$ (237,444)	$ (212,271)
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax	0	(4,545)
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment, Net of Tax	(12,054)	(2,071)
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax	11,181	13,798
Other Comprehensive Income (Loss), Net of Tax	$ (873)	$ 7,182

Other Comprehensive Income Deta

Other Comprehensive Income Details 2 (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Cross Currency Swap, Interest Income	$ 0.6		$ 0.6
Cross Currency Swap Debt Remeasurement Effective Portion	(1.3)		0.2
Derivative Instruments, Gain (Loss) Recognized in Other Comprehensive Income (Loss), Effective Portion, Net	(1,442,000)	$ (1,343,000)	819,000	$ (3,748,000)
Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Derivatives Arising During Period, Tax	18,000	(229,000)	454,000	(627,000)
Other Comprehensive Income (Loss), Reclassification Adjustment on Derivatives Included in Net Income, Net of Tax	(1,460,000)	(1,114,000)	365,000	(3,121,000)
Other Comprehensive Income (Loss), Pension and Other Postretirement Benefit Plans, Adjustment, before Tax, Portion Attributable to Parent	5,035,000	3,996,000	15,128,000	19,964,000
Other Comprehensive Income (Loss), Pension and Other Postretirement Benefit Plans, Tax, Portion Attributable to Parent	1,319,000	1,033,000	3,947,000	6,166,000
Other Comprehensive Income (Loss), Pension and Other Postretirement Benefit Plans, Adjustment, Net of Tax	3,716,000	2,963,000	11,181,000	13,798,000
Interest Rate Swap [Member]
Interest Rate Cash Flow Hedge Gain (Loss) Reclassified to Earnings, Net	424,000	258,000	1,273,000	784,000
Cross Currency Swap [Member]
Interest Rate Cash Flow Hedge Gain (Loss) Reclassified to Earnings, Net	(1,866,000)	0	(454,000)	0
Foreign Exchange Forward [Member]
Foreign Currency Cash Flow Hedge Gain (Loss) Reclassified to Earnings, Net	$ 0	$ (1,601,000)	$ 0	$ (4,532,000)

Other Comprehensive Income De43

Other Comprehensive Income Details 3 (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016	Dec. 31, 2016
Net earnings	$ 104,950	$ 101,332	$ 298,996	$ 246,594	$ 384,370
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent	20,749	16,372	77,361	246	$ (88,349)
Comprehensive Income, Net of Tax (Note 9)	$ 125,699	$ 117,704	$ 376,357	$ 246,840

Earnings Per Common Share (Deta

Earnings Per Common Share (Details) - shares	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Incremental Weighted Average Shares Attributable to Dilutive Effect [Abstract]
Weighted Average Number of Shares Outstanding, Diluted, Total	690,096	513,342	682,205	508,512
Antidilutive Shares Outstanding
Weighted Average Number of Shares Outstanding, Antidilutive, Total		84,293	35	84,712

Net Periodic Benefit Cost (Deta

Net Periodic Benefit Cost (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Defined Benefit Plan Disclosure [Line Items]
Service cost, net	$ 4,149,000	$ 4,319,000	$ 12,509,000	$ 12,934,000
Interest cost on projected benefit obligations	3,381,000	3,575,000	9,630,000	11,438,000
Expected return on plan assets	(9,594,000)	(10,045,000)	(27,847,000)	(30,932,000)
Recognition of prior service cost	(1,806,000)	(1,757,000)	(5,024,000)	(5,264,000)
Recognition of actuarial losses/(gains)	6,841,000	5,753,000	20,152,000	17,265,000
Defined Benefit Plan, Net Periodic Benefit Cost (Credit), Gain (Loss) Due to Settlement and Curtailment			0	7,963,000
Net periodic pension cost/(credit)	2,971,000	1,845,000	9,420,000	13,404,000
Defined Benefit Plan, Benefit Obligation, (Increase) Decrease for Settlement				14,600,000
Other Comprehensive Income (Loss), Defined Benefit Plan, Settlement and Curtailment Gain (Loss), before Tax			0	(8,189,000)
Pension Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Service cost, net	141,000	103,000	423,000	328,000
Interest cost on projected benefit obligations	1,094,000	1,014,000	3,282,000	3,414,000
Expected return on plan assets	(1,684,000)	(1,868,000)	(5,052,000)	(5,912,000)
Recognition of prior service cost	0	0	0	0
Recognition of actuarial losses/(gains)	1,639,000	1,907,000	4,917,000	5,699,000
Defined Benefit Plan, Net Periodic Benefit Cost (Credit), Gain (Loss) Due to Settlement and Curtailment			0	7,963,000
Net periodic pension cost/(credit)	1,190,000	1,156,000	3,570,000	11,492,000
Defined Benefit Plan, Settlement Loss after tax				(4,900,000)
Other Pension Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Service cost, net	4,008,000	4,216,000	12,086,000	12,606,000
Interest cost on projected benefit obligations	2,269,000	2,542,000	6,294,000	7,967,000
Expected return on plan assets	(7,910,000)	(8,177,000)	(22,795,000)	(25,020,000)
Recognition of prior service cost	(1,611,000)	(1,288,000)	(4,439,000)	(3,856,000)
Recognition of actuarial losses/(gains)	5,676,000	4,519,000	16,657,000	13,585,000
Defined Benefit Plan, Net Periodic Benefit Cost (Credit), Gain (Loss) Due to Settlement and Curtailment			0	0
Net periodic pension cost/(credit)	2,432,000	1,812,000	$ 7,803,000	5,282,000
Defined Benefit Plan, Expected Future Employer Contributions, Current Fiscal Year, Description			19,400
Other Postretirement Benefits Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Service cost, net	0	0	$ 0	0
Interest cost on projected benefit obligations	18,000	19,000	54,000	57,000
Expected return on plan assets	0	0	0	0
Recognition of prior service cost	(195,000)	(469,000)	(585,000)	(1,408,000)
Recognition of actuarial losses/(gains)	(474,000)	(673,000)	(1,422,000)	(2,019,000)
Defined Benefit Plan, Net Periodic Benefit Cost (Credit), Gain (Loss) Due to Settlement and Curtailment			0	0
Net periodic pension cost/(credit)	$ (651,000)	$ (1,123,000)	$ (1,953,000)	$ (3,370,000)
Defined Benefit Plan, Expected Future Employer Contributions, Current Fiscal Year, Description			500

Restructuring Charges (Details)

Restructuring Charges (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Company's accrual for restructuring activities:-
Beginning Restructuring Accrual Balance, as of December 31, 2016			$ 9,531
Restructuring Charges	$ 3,385	$ 1,494	8,840	$ 4,579
Restructuring Cash Payments			(7,701)
Impact of foreign currency on restructuring reserve			837
Ending Restructuring Accrual Balance, as of September 30, 2017	$ 11,507		$ 11,507

Restructuring Charges Restructu

Restructuring Charges Restructuring Charges (textuals) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Restructuring Charges [Abstract]
Restructuring Charges	$ 3,385	$ 1,494	$ 8,840	$ 4,579

Other Charges , Net Other Charg

Other Charges , Net Other Charges, Net (Details) - USD ($)	9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Dec. 31, 2016
Other Income and Expenses [Abstract]
Business Acquisition, Transaction Costs	$ 1,700,000		$ 1,100,000
Gain (Loss) on Disposition of Assets	3.4
Other Comprehensive Income (Loss), Defined Benefit Plan, Settlement and Curtailment Gain (Loss), before Tax	$ 0	$ 8,189,000

Segment Reporting (Details)

Segment Reporting (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016	Dec. 31, 2016
Operations of the Company's operating segments
Net Sales to External Customers	$ 698,799	$ 650,598	$ 1,947,022	$ 1,798,558
Revenue Transactions With Other Operating Segments	0	0	0	0
Total net sales	698,799	650,598	1,947,022	1,798,558
Segment Profit	162,885	151,675	438,767	382,765
Goodwill	538,418	482,144	538,418	482,144	$ 476,378
US Operations [Member]
Operations of the Company's operating segments
Net Sales to External Customers	239,221	235,715	693,405	640,618
Revenue Transactions With Other Operating Segments	24,187	20,151	69,692	61,884
Total net sales	263,408	255,866	763,097	702,502
Segment profit	43,004	43,779	126,973	114,046
Goodwill	409,172	356,089	409,172	356,089
Swiss Operations [Member]
Operations of the Company's operating segments
Net Sales to External Customers	33,923	32,390	95,957	90,075
Revenue Transactions With Other Operating Segments	136,960	127,569	395,859	374,863
Total net sales	170,883	159,959	491,816	464,938
Segment profit	39,213	36,854	113,181	107,673
Goodwill	22,252	22,280	22,252	22,280
Western European Operations [Member]
Operations of the Company's operating segments
Net Sales to External Customers	171,722	159,025	470,206	450,940
Revenue Transactions With Other Operating Segments	40,287	43,816	127,112	121,308
Total net sales	212,009	202,841	597,318	572,248
Segment profit	30,885	30,218	77,283	74,711
Goodwill	90,832	87,403	90,832	87,403
Chinese Operations [Member]
Operations of the Company's operating segments
Net Sales to External Customers	125,067	99,349	323,940	277,182
Revenue Transactions With Other Operating Segments	68,625	62,368	178,593	166,948
Total net sales	193,692	161,717	502,533	444,130
Segment profit	69,086	51,669	167,873	134,229
Goodwill	673	669	673	669
Other Operations [Member]
Operations of the Company's operating segments
Net Sales to External Customers	128,866	124,119	363,514	339,743
Revenue Transactions With Other Operating Segments	1,754	1,770	5,481	4,824
Total net sales	130,620	125,889	368,995	344,567
Segment profit	16,776	16,721	45,106	41,064
Goodwill	15,489	15,703	15,489	15,703
Intersegment Elimination [Member]
Operations of the Company's operating segments
Net Sales to External Customers	0	0	0	0
Revenue Transactions With Other Operating Segments	(271,813)	(255,674)	(776,737)	(729,827)
Total net sales	(271,813)	(255,674)	(776,737)	(729,827)
Segment profit	(36,079)	(27,566)	(91,649)	(88,958)
Goodwill	$ 0	$ 0	$ 0	$ 0

Segment Reporting (Details 1)

Segment Reporting (Details 1) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Reconciliation of earnings before taxes to segment profit
Earnings before taxes	$ 139,627	$ 133,324	$ 380,322	$ 322,909
Amortization	10,716	9,087	31,010	26,166
Interest expense	8,248	7,167	24,160	20,619
Restructuring Charges	3,385	1,494	8,840	4,579
Other charges (income), net	909	603	(5,565)	8,492
Segment Profit Information	$ 162,885	$ 151,675	$ 438,767	$ 382,765

Segment Reporting (Details Text

Segment Reporting (Details Textuals) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Segment Reporting (Textuals) [Abstract]
Restructuring Charges	$ 3,385	$ 1,494	$ 8,840	$ 4,579
US Operations [Member]
Segment Reporting (Textuals) [Abstract]
Restructuring Charges	1,700	600	4,700	1,700
Swiss Operations [Member]
Segment Reporting (Textuals) [Abstract]
Restructuring Charges	200	300	1,100	900
Western European Operations [Member]
Segment Reporting (Textuals) [Abstract]
Restructuring Charges	1,300	500	2,000	1,700
Chinese Operations [Member]
Segment Reporting (Textuals) [Abstract]
Restructuring Charges	$ 200		300	100
Other Operations [Member]
Segment Reporting (Textuals) [Abstract]
Restructuring Charges		$ 100	$ 800	$ 200