Mettler-Toledo International (MTD) 10-Q 27 Jul 18 2018 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information Document	6 Months Ended
	Jun. 30, 2018USD ($)shares
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	Jun. 30, 2018
Document Fiscal Year Focus	2,018
Document Fiscal Period Focus	Q2
Amendment Flag	false
Entity Common Stock, Shares Outstanding | shares	25,213,828
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Public Float | $	$ 14,589,477,296

Interim Consolidated Statements

Interim Consolidated Statements of Operations (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Revenues	$ 721,996	$ 653,656	$ 1,382,817	$ 1,248,223
Gross profit	412,625	375,612	787,558	719,001
Research and development	35,315	32,582	70,028	63,782
Selling, general and administrative	208,024	195,624	408,698	381,280
Amortization	11,970	10,249	23,705	20,294
Interest expense	8,309	8,171	16,668	15,912
Restructuring Charges	7,321	4,023	11,734	5,455
Other charges (income), net	(1,916)	(1,884)	(4,316)	(8,417)
Earnings before taxes	143,602	126,847	261,041	240,695
Provision for taxes	32,134	25,267	56,269	46,649
Net earnings	$ 111,468	$ 101,580	$ 204,772	$ 194,046
Basic earnings per common share:
Net earnings	$ 4.41	$ 3.94	$ 8.07	$ 7.51
Weighted average number of common shares	25,299,414	25,751,374	25,383,402	25,841,243
Diluted earnings per common share:
Net earnings	$ 4.31	$ 3.84	$ 7.88	$ 7.32
Weighted average number of common and common equivalent shares	25,867,383	26,439,529	25,979,508	26,514,311
Comprehensive Income, Net of Tax (Note 9)	$ 82,263	$ 134,314	$ 204,457	$ 250,658
Product [Member]
Revenues	562,476	512,848	1,073,422	970,108
Cost of Goods and Services Sold	221,729	199,586	424,316	374,899
Service [Member]
Revenues	159,520	140,808	309,395	278,115
Cost of Goods and Services Sold	$ 87,642	$ 78,458	$ 170,943	$ 154,323

Interim Consolidated Balance Sh

Interim Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Jun. 30, 2018	Dec. 31, 2017
Current assets:
Cash and cash equivalents	$ 183,190	$ 148,687
Trade accounts receivable, less allowances of $16,074 at June 30, 2018 and $15,549 at December 31, 2017	486,203	528,615
Inventories	270,047	255,390
Other current assets and prepaid expenses	63,867	74,031
Total current assets	1,003,307	1,006,723
Property, plant and equipment, net	678,706	668,271
Goodwill	536,407	539,838
Other intangible assets, net	219,858	226,718
Non-current deferred tax assets, net	36,880	41,425
Other non-current assets	83,058	66,830
Total assets	2,558,216	2,549,805
Current liabilities:
Trade accounts payable	170,865	167,627
Accrued and other liabilities	145,892	152,834
Accrued compensation and related items	116,567	170,159
Deferred revenue and customer prepayments	126,835	107,166
Taxes payable	76,606	72,210
Short-term borrowings and current maturities of long-term debt	52,052	19,677
Total current liabilities	688,817	689,673
Long-term debt	1,020,420	960,170
Non-current deferred tax liabilities	46,138	51,230
Other non-current liabilities	270,407	301,452
Total liabilities	2,025,782	2,002,525
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 25,213,828 and 25,541,393 shares at June 30, 2018 and December 31, 2017, respectively	448	448
Additional paid-in capital	755,374	747,138
Treasury stock at cost (19,572,183 shares at June 30, 2018 and 19,244,618 shares at December 31, 2017)	(3,595,296)	(3,368,182)
Retained earnings	3,637,629	3,433,282
Accumulated Other Comprehensive Income (Loss), Net of Tax	(265,721)	(265,406)
Total shareholders' equity	532,434	547,280
Total liabilities and shareholders' equity	$ 2,558,216	$ 2,549,805

Balance Sheet Parentheticals (P

Balance Sheet Parentheticals (Parentheticals) - USD ($) $ in Thousands	Jun. 30, 2018	Dec. 31, 2017
Allowance for Doubtful Accounts Receivable, Current	$ 16,074	$ 15,549
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	25,213,828	25,541,393
Treasury Stock, Shares	19,572,183	19,244,618

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, 2016	$ 434,943	$ 448	$ 730,556	$ (3,006,771)	$ 3,065,708	$ (354,998)
Beginning balance, shares at Dec. 31, 2016		26,020,234
Stock Issued During Period, Value, Treasury Stock Reissued	28,649			38,586	9,937
Exercise of stock options and restricted stock units, shares		270,413
Treasury Stock, Value, Acquired, Cost Method	399,997			399,997
Repurchases of common stock, shares		(749,254)
Tax benefit resulting from exercise of certain employee stock options	1,539
Adjustment to Additional Paid in Capital, Share-Based Compensation	16,582		16,582
Net earnings	375,972				375,972
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent	89,592					89,592
Ending balance at Dec. 31, 2017	$ 547,280	$ 448	747,138	(3,368,182)	3,433,282	(265,406)
Ending balance, shares at Dec. 31, 2017	25,541,393	25,541,393
Cumulative Effect of New Accounting Principle in Period of Adoption					1,539
Stock Issued During Period, Value, Treasury Stock Reissued	$ 9,960			10,385	425
Exercise of stock options and restricted stock units, shares	68,653	68,653
Treasury Stock, Value, Acquired, Cost Method	$ 237,499			237,499
Repurchases of common stock, shares	(396,218)	(396,218)
Adjustment to Additional Paid in Capital, Share-Based Compensation	$ 8,236		8,236
Net earnings	204,772				204,772
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent	(315)					(315)
Ending balance at Jun. 30, 2018	$ 532,434	$ 448	$ 755,374	$ (3,595,296)	$ 3,637,629	$ (265,721)
Ending balance, shares at Jun. 30, 2018	25,213,828	25,213,828

Interim Consolidated Statement6

Interim Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017
Cash flows from operating activities:
Net earnings	$ 204,772	$ 194,046
Adjustments to reconcile net earnings to net cash provided by operating activities:
Depreciation	18,606	15,919
Amortization	23,705	20,294
Deferred tax benefit	(10,109)	(3,840)
Share-based compensation	8,236	7,793
Gain on facility sale	0	(3,394)
Other	(1,200)	230
Increase (decrease) in cash resulting from changes in:
Trade accounts receivable, net	34,509	23,541
Inventories	(19,959)	(21,164)
Other current assets	844	(235)
Trade accounts payable	5,425	(7,176)
Taxes payable	1,268	(9,058)
Accruals and other	(49,338)	(11,579)
Net cash provided by operating activities	216,759	205,377
Cash flows from investing activities:
Proceeds from sale of property, plant and equipment	4,530	10,209
Purchase of property, plant and equipment	(61,586)	(48,529)
Acquisitions	(500)	(697)
Payments for (Proceeds from) Derivative Instrument, Investing Activities	7,042	(1,033)
Net cash used in investing activities	(50,514)	(40,050)
Cash flows from financing activities:
Proceeds from borrowings	603,180	672,921
Repayments of borrowings	(502,524)	(615,162)
Proceeds from stock option exercises	9,960	16,935
Repurchases of common stock	(237,499)	(249,949)
Proceeds from (Payments for) Other Financing Activities	(1,635)	(7,205)
Net cash used in financing activities	(128,518)	(182,460)
Effect of exchange rate changes on cash and cash equivalents	(3,224)	4,793
Net (decrease) increase in cash and cash equivalents	34,503	(12,340)
Cash and cash equivalents:
Beginning of period	148,687	158,674
End of period	$ 183,190	$ 146,334

Basis of Presentation

Basis of Presentation	6 Months Ended
	Jun. 30, 2018
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, 2017 . 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 six months ended June 30, 2018 are not necessarily indicative of the results to be expected for the full year ending December 31, 2018 . 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, 2017 . All intercompany transactions and balances have been eliminated.

Summary of Significant Accounti

Summary of Significant Accounting Policies	6 Months Ended
	Jun. 30, 2018
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: June 30, December 31, Raw materials and parts $ 121,265 $ 118,790 Work-in-progress 50,186 43,035 Finished goods 98,596 93,565 $ 270,047 $ 255,390 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: June 30, 2018 December 31, 2017 Gross Amount Accumulated Amortization Intangibles, Net Gross Amount Accumulated Amortization Intangibles, Net Customer relationships $ 197,817 $ (45,864 ) $ 151,953 $ 198,527 $ (41,794 ) $ 156,733 Proven technology and patents 70,156 (40,720 ) 29,436 70,311 (38,890 ) 31,421 Tradenames (finite life) 4,494 (2,817 ) 1,677 4,518 (2,807 ) 1,711 Tradenames (indefinite life) 35,520 — 35,520 35,562 — 35,562 Other 3,631 (2,359 ) 1,272 3,490 (2,199 ) 1,291 $ 311,618 $ (91,760 ) $ 219,858 $ 312,408 $ (85,690 ) $ 226,718 The Company recognized amortization expense associated with the above intangible assets of $3.5 million and $2.5 million for the three months ended June 30, 2018 and 2017 , respectively and $7.1 million and $5.0 million for the six months ended June 30, 2018 and 2017 , respectively. The annual aggregate amortization expense based on the current balance of other intangible assets is estimated at $14.0 million for 2018 , $13.4 million for 2019 , $13.1 million for 2020 , $12.5 million for 2021 , $12.0 million for 2022 and $11.8 million for 2023 . Purchased intangible amortization was $3.3 million , $2.5 million after tax, and $2.3 million , $1.5 million after tax, for the three months ended June 30, 2018 and 2017 , respectively and $6.7 million , $5.0 million after tax, and $4.6 million , $3.0 million after tax, for the six months ended June 30, 2018 and 2017 , respectively. In addition to the above amortization, the Company recorded amortization expense associated with capitalized software of $8.4 million and $7.7 million for the three months ended June 30, 2018 and 2017 , respectively and $16.5 million and $15.2 million for the six months ended June 30, 2018 and 2017 , respectively. Revenue Recognition Product revenue is recognized from contracts with customers when a customer has obtained control of a product. The Company considers control to have transferred upon shipment or delivery. To the extent the Company’s contracts have a separate performance obligation, revenue related to any post-shipment performance obligation is deferred until completed. Shipping and handling costs charged to customers are included in total net sales and the associated expense is a component of cost of sales. Certain products are also sold through indirect distribution channels whereby the distributor assumes any further obligations to the end customer. Revenue is recognized on these distributor arrangements upon transfer of control to the distributor. Contracts do not contain variable pricing arrangements that are retrospective, except for rebate programs. Rebates are estimated based on expected sales volumes and offset against revenue at the time such revenue is recognized. 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. The provisions for estimated returns and rebates are immaterial to the consolidated financial statements. Certain of the Company’s arrangements include separate performance obligations, primarily related to installation. Such performance obligations are accounted for separately when the deliverables have stand-alone value and the satisfaction of the undelivered performance obligations is probable and within the Company's control. The allocation of revenue between the performance obligations is based on the observable standalone selling prices at the time of the sale in accordance with a number of factors including service technician billing rates, time to install and geographic location. Software is generally not considered a distinct performance obligation with the exception of a few small software applications. The Company does not sell software products without the related hardware instrument as the software is embedded in the product. 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. Service revenue not under contract is recognized upon the completion of the service performed. Revenue from spare parts sold on a stand-alone basis is recognized when control is transferred to the customer, which is generally at the time of shipment or delivery. Revenue from service contracts is recognized ratably over the contract period using a time-based method. 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. 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 $3.9 million and $8.2 million of share-based compensation expense for the three and six months ended June 30, 2018 , respectively, compared to $3.9 million and $7.8 million for the corresponding periods in 2017 . Research and Development Research and development costs primarily consist of salaries, consulting and other costs. The Company expenses these costs as incurred. Recent Accounting Pronouncements On January 1, 2018 the Company retrospectively implemented ASU 2017-7 to ASC 715 "Compensation - Retirement Benefits," which requires the Company to report the non-service cost components of net periodic benefit cost (pension cost) in other charges (income), net. These amounts were previously reported in selling, general, and administrative, cost of sales and research and development in the consolidated statement of operations. Nonservice pension benefits were $1.5 million and $1.1 million for the three months ended June 30, 2018 and 2017, respectively, and $3.1 million and $1.9 million and for the six months ended June 30, 2018 and 2017, respectively. 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. The Company's primary leasing arrangements are related to leased facilities and vehicle fleet leases. The Company is currently evaluating the impact of this guidance. In February 2018, the FASB issued ASU 2018-02, "Income Statement - Reporting Comprehensive Income". The accounting update provided entities with guidance on how to reclassify certain stranded tax effects from accumulated other comprehensive income as a result of the Tax Cuts and Jobs Act, which was a tax bill enacted by the U.S. government in December 2017. The new guidance is effective for the year beginning January 1, 2019 and the Company is still evaluating the impact on the financial statements.

Revenue from Contracts with Cus

Revenue from Contracts with Customers (Notes)	6 Months Ended
	Jun. 30, 2018
Revenue from Contract with Customer [Abstract]
Revenue from Contract with Customer [Text Block]	REVENUE On January 1, 2018, the Company adopted ASC 606 "Revenue from Contracts with Customers" and all the related amendments using the modified retrospective method, whereby the adoption does not impact any prior periods. The effect of adopting the new standard did not require any cumulative effect adjustment to retained earnings as of January 1, 2018. There was no impact to our consolidated statements of operations, balance sheet, or statement of cash flows as of and for the period ended June 30, 2018. The Company disaggregates revenue from contracts with customers by product, service, timing of revenue recognition and geography. A summary by the Company’s reportable segments follows for the three and six months ended June 30, 2018: Three months ended June 30, 2018 U.S. Operations Swiss Operations Western European Operations Chinese Operations Other Operations Total Product Revenue $ 191,511 $ 25,163 $ 124,336 $ 119,709 $ 101,757 $ 562,476 Service Revenue: Point in time 49,985 4,919 33,081 10,885 24,969 123,839 Over time 9,978 2,072 16,355 2,678 4,598 35,681 Total $ 251,474 $ 32,154 $ 173,772 $ 133,272 $ 131,324 $ 721,996 Six months ended June 30, 2018 U.S. Operations Swiss Operations Western European Operations Chinese Operations Other Operations Total Product Revenue $ 364,012 $ 50,728 $ 241,268 $ 224,002 $ 193,412 $ 1,073,422 Service Revenue: Point in time 97,605 9,748 62,966 18,012 49,208 237,539 Over time 19,602 4,143 34,910 5,188 8,013 71,856 Total $ 481,219 $ 64,619 $ 339,144 $ 247,202 $ 250,633 $ 1,382,817 A summary of revenue by major geographic destination for the three and six months ended June 30 follows: Three months ended June 30, 2018 Six months ended June 30, 2018 Americas $ 274,328 $ 526,607 Europe 220,718 426,558 Asia / Rest of World 226,950 429,652 Total $ 721,996 $ 1,382,817 The Company's global revenue mix by product category is laboratory ( 51% of sales), industrial ( 41% of sales) and retail ( 8% of sales). The Company's product revenue by reportable segment is proportionately similar to the Company's global mix except the Company's Swiss Operations is largely comprised of laboratory products while the Company's Chinese Operations has a slightly higher percentage of industrial products. A summary of the Company’s revenue by product category for the three and six months ended June 30, 2018 is as follows: Three months ended June 30, 2018 Six months ended June 30, 2018 Laboratory $ 361,726 $ 706,885 Industrial 305,277 567,933 Retail 54,993 107,999 Total $ 721,996 $ 1,382,817 The payment terms in the Company’s contracts with customers do not exceed one year and therefore contracts do not contain a significant financing component. In most cases, after appropriate credit evaluations, payments are due in arrears and are recognized as receivables. Unbilled revenue is recorded when performance obligations have been satisfied, but the Company does not have right to receive payment. Unbilled revenue as of June 30, 2018 was $16.7 million and is included within accounts receivable. Deferred revenue and customer prepayments are recorded when cash payments are received or due in advance of the performance obligation being satisfied. Deferred revenue primarily includes prepaid service contracts, as well as deferred installation. Changes in the components of deferred revenue and customer prepayments during the period are as follows: Deferred Revenue and Customer Pre-payments Beginning balances as of December 31, 2017 $ 107,166 Customer pre-payments/deferred revenue 282,446 Revenue recognized (260,280 ) Foreign currency translation (2,497 ) Ending balance as of June 30, 2018 $ 126,835 The Company generally expenses sales commissions when incurred because the amortization period is one year or less. These costs are recorded within selling, general, and administrative expenses. The Company has not disclosed the value of unsatisfied performance obligations other than customer prepayments and deferred revenue above as most contracts have an expected length of one year or less and amounts greater than one year are immaterial.

Financial Instruments

Financial Instruments	6 Months Ended
	Jun. 30, 2018
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 June 30, 2018 and December 31, 2017 , 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 $3.1 million based upon interest rates and foreign currency rates at June 30, 2018 , is expected to be reclassified from other comprehensive income (loss) to earnings in the next twelve months. Through June 30, 2018 , 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 June 30, 2018 and December 31, 2017 , respectively, and disclosed in Note 5. The Company recognized in other charges (income), a net loss of $1.5 million and a net gain of $0.1 million during the three months ended June 30, 2018 and 2017 , respectively, and a net gain of $4.2 million and $1.9 million during the six months ended June 30, 2018 and 2017 , respectively. The gains and losses are primarily offset by the underlying transaction gains and losses on the related intercompany balances. At June 30, 2018 and December 31, 2017 , these contracts had a notional value of $407.1 million and $394.8 million , respectively.

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Jun. 30, 2018
Fair Value Disclosures [Abstract]
FAIR VALUE MEASUREMENTS	FAIR VALUE MEASUREMENTS At June 30, 2018 and December 31, 2017 , the Company had derivative assets totaling $4.5 million and $1.9 million in both periods, respectively, and derivative liabilities totaling $2.7 million and $2.4 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 June 30, 2018 and December 31, 2017 . At June 30, 2018 and December 31, 2017 , the Company had $13.4 million and $5.6 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 $0.5 million as of June 30, 2018 . The fair value of the contingent consideration obligation of $30.9 million relating to the Biotix acquisition as of June 30, 2018 is 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 June 30, 2018 and December 31, 2017 : June 30, 2018 December 31, 2017 Total Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Assets: Cash equivalents $ 13,402 $ — $ 13,402 $ — $ 5,616 $ — $ 5,616 $ — Interest rate swap agreements 1,727 — 1,727 — — — — — Cross currency swap agreement 1,849 — 1,849 — — — — — Foreign currency forward contracts not designated as hedging instruments 925 — 925 — 1,912 — 1,912 — Total $ 17,903 $ — $ 17,903 $ — $ 7,528 $ — $ 7,528 $ — Liabilities: Interest rate swap agreements $ — $ — $ — $ — $ 1,292 $ — $ 1,292 $ — Cross currency swap agreement — — — — 106 — 106 — Foreign currency forward contracts not designated as hedging instruments 2,720 — 2,720 — 986 — 986 — Total $ 2,720 $ — $ 2,720 $ — $ 2,384 $ — $ 2,384 $ —

Income Taxes

Income Taxes	6 Months Ended
	Jun. 30, 2018
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXES The Company's reported tax rate was 22.4% and 19.9% during the three months ended June 30, 2018 and 2017, respectively and 21.6% and 19.4% during the six months ended June 30, 2018 and 2017, respectively. The provision for taxes is based upon using the Company's projected annual effective tax rate of 22.0% before non-recurring discrete tax items for the three and six months periods ended June 30, 2018. The difference between the Company's projected annual effective tax rate of 22.0% and the reported tax rate is related to the timing of excess tax benefits associated with stock option exercises. On December 22, 2017, the Tax Cuts and Jobs Act (the "Act") significantly revised U.S. corporate income tax law. The Act includes, among other things, a reduction in the U.S. federal corporate income tax rate from 35% to 21% effective for taxable years beginning after December 31, 2017, and the implementation of a modified territorial tax system that includes a one-time transition tax on deemed repatriated earnings of foreign subsidiaries ("Transition Tax") that is payable over a period of up to eight years. The Company's accounting for the Act is based upon reasonable estimates, however, the estimates may change upon the finalization of the Act's implementation and additional interpretive guidance from regulatory authorities. Among other things, the Company needs to complete its analysis of historical foreign earnings and related taxes paid and its analysis of foreign cash equivalents. In addition, the Company needs to complete its analysis of deemed repatriation of deferred foreign income and related.

Debt

Debt	6 Months Ended
	Jun. 30, 2018
Debt Disclosure [Abstract]
DEBT	DEBT Debt consisted of the following at June 30, 2018 : June 30, 2018 U.S. Dollar Other Principal Trading Currencies Total $50 million Senior Notes, interest 3.67%, due December 17, 2022 50,000 — 50,000 $50 million Senior Notes, interest 4.10%, due September 19, 2023 50,000 — 50,000 $125 million Senior Notes, interest 3.84%, due September 19, 2024 125,000 — 125,000 $125 million Senior Notes, interest 4.24%, due June 25, 2025 125,000 — 125,000 EUR 125 million Senior Notes, interest 1.47%, due June 17, 2030 — 145,163 145,163 Debt issuance costs, net (994 ) (342 ) (1,336 ) Total Senior Notes 349,006 144,821 493,827 $1.1 billion Credit Agreement, interest at LIBOR plus 87.5 basis points 469,719 56,874 526,593 Other local arrangements 359 51,693 52,052 Total debt 819,084 253,388 1,072,472 Less: current portion (359 ) (51,693 ) (52,052 ) Total long-term debt $ 818,725 $ 201,695 $ 1,020,420 Credit Agreement On June 15, 2018 the Company entered into an amended $1.1 billion Credit Agreement (the "Credit Agreement"), which amended its $800 million Amended and Restated Credit Agreement (the "Prior Credit Agreement"). As of June 30, 2018 , the Company had $566.9 million of availability remaining under its Credit Agreement. The Credit Agreement is provided by a group of financial institutions (similar to the Company's Prior Credit Agreement) and has a maturity date of June 15, 2023. It is a revolving credit facility and is not subject to any scheduled principal payments prior to maturity. The obligations under the Credit Agreement are unsecured. Borrowings under the Credit Agreement bear interest at current market rates plus a margin based on the Company’s consolidated leverage ratio, which was set at LIBOR plus 87.5 basis points as of June 15, 2018. The Company must also pay facility fees that are tied to its leverage ratio. The Credit Agreement contains covenants that are the same as those contained in the prior Credit Agreement, with which the Company was in compliance as of June 30, 2018. The Company is required to maintain a ratio of funded debt to Consolidated EBITDA of 3.5 to1.0 or less and an interest coverage ration of 3.5 to 1.0 or greater. The Credit Agreement also places certain limitations on the Company, including limiting the ability to incur liens or indebtedness at a subsidiary level. In addition, the Credit Agreement has several events of default. The Company incurred approximately $0.1 million of debt extinguishment costs during 2018 related to the Prior Credit Agreement. The Company capitalized $2.0 million in financing fees during 2018 associated with the Credit Agreement which will be amortized to interest expense through 2023. Other Local Arrangements In April 2018, two of the Company's non-U.S. pension plans issued loans totaling $39.6 million (Swiss franc 38 million) to a wholly owned subsidiary of the Company. The loans have the same terms and conditions which include an interest rate of Swiss franc LIBOR plus 87.5 basis points and a maturity date of April 2019 and a one year renewal term and, as such, are classified as short-term debt on the Company's consolidated balance sheet. The proceeds were used to repay outstanding amounts on the Company's credit facility. 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 gain of $10.1 million and loss $7.1 million for the three months ended June 30, 2018 and 2017, respectively, and a gain of $4.6 million and a loss $10.5 million for the six months periods ended June 30, 2018 and 2017, respectively.

Share Repurchase Program and Tr

Share Repurchase Program and Treasury Stock	6 Months Ended
	Jun. 30, 2018
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 $345.9 million of remaining common shares to be repurchased under the program as of June 30, 2018 . 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 27.1 million shares since the inception of the program in 2004 through June 30, 2018 . During the six months ended June 30, 2018 and 2017 , the Company spent $237.5 million and $249.9 million on the repurchase of 396,218 shares and 505,593 shares at an average price per share of $599.40 and $494.35 , respectively. The Company also reissued 68,653 shares and 153,413 shares held in treasury for the exercise of stock options and restricted stock units during the six months ended June 30, 2018 and 2017 , respectively.

Other Comprehensive Income (Not

Other Comprehensive Income (Notes)	6 Months Ended
	Jun. 30, 2018
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 six months ended June 30, 2018 and 2017 : 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, 2017 $ (31,340 ) $ (1,081 ) $ (232,985 ) $ (265,406 ) Other comprehensive income (loss), net of tax: Unrealized gains (losses) cash flow hedging arrangements — 1,782 — 1,782 Foreign currency translation adjustment (13,894 ) — 3,865 (10,029 ) Amounts recognized from accumulated other comprehensive income (loss), net of tax — 682 7,250 7,932 Net change in other comprehensive income (loss), net of tax (13,894 ) 2,464 11,115 (315 ) Balance at June 30, 2018 $ (45,234 ) $ 1,383 $ (221,870 ) $ (265,721 ) 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: Unrealized gains (losses) cash flow hedging arrangements — (2,016 ) — (2,016 ) Foreign currency translation adjustment 61,299 — (11,960 ) 49,339 Amounts recognized from accumulated other comprehensive income (loss), net of tax — 1,824 7,465 9,289 Net change in other comprehensive income (loss), net of tax 61,299 (192 ) (4,495 ) 56,612 Balance at June 30, 2017 $ (54,023 ) $ (2,424 ) $ (241,939 ) $ (298,386 ) The following table presents amounts recognized from accumulated other comprehensive income (loss) for the three and six month periods ended June 30 : Three months ended June 30, 2018 2017 Location of Amounts Recognized in Earnings Effective portion of (gains) / losses on cash flow hedging arrangements: Interest rate swap agreements $ 158 $ 505 Interest expense Cross currency swap agreement 4,098 1,412 (a) Total before taxes 4,256 1,917 Provision for taxes 360 305 Provision for taxes Total, net of taxes $ 3,896 $ 1,612 Recognition of defined benefit pension and post-retirement items: Recognition of actuarial losses and prior service cost, before taxes $ 4,687 $ 5,054 (b) Provision for taxes 1,123 1,301 Provision for taxes Total, net of taxes $ 3,564 $ 3,753 (a) The cross currency swap reflects an unrealized loss of $4.8 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 $0.7 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 months ended June 30, 2018 and 2017 . Six months ended June 30, 2018 2017 Location of Amounts Recognized in Earnings Effective portion of (gains) / losses on cash flow hedging arrangements: Interest rate swap agreements $ 435 $ 849 Interest expense Cross currency swap agreement 387 1,412 (a) Total before taxes 822 2,261 Provision for taxes 140 437 Provision for taxes Total, net of taxes $ 682 $ 1,824 Recognition of defined benefit pension and post-retirement items: Recognition of actuarial losses and prior service cost, before taxes $ 9,498 $ 10,093 (b) Provision for taxes 2,248 2,628 Provision for taxes Total, net of taxes $ 7,250 $ 7,465 (a) The cross currency swap reflects an unrealized loss of $1.8 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 $1.4 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 12 for additional details for the six months ended June 30, 2018 and 2017 . Comprehensive income (loss), net of tax consisted of the following as of June 30 : Three Months Ended Six Months Ended 2018 2017 2018 2017 Net earnings $ 111,468 $ 101,580 $ 204,772 $ 194,046 Other comprehensive income (loss), net of tax (29,205 ) 32,734 (315 ) 56,612 Comprehensive income, net of tax $ 82,263 $ 134,314 $ 204,457 $ 250,658

Earnings Per Common Share

Earnings Per Common Share	6 Months Ended
	Jun. 30, 2018
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 six month periods ended June 30, relating to outstanding stock options and restricted stock units: 2018 2017 Three months ended 567,969 688,155 Six months ended 596,106 673,068 Outstanding options and restricted stock units to purchase or receive 56,419 shares of common stock for the three month period ended June 30, 2018 have been excluded from the calculation of diluted weighted average number of common and common equivalent shares as such options and restricted stock units would be anti-dilutive. For the three months ended June 30, 2017, there were no anti-dilutive outstanding options or restricted stock units. Options and restricted stock units to purchase or receive 56,380 and 75,182 for the six month period ended June 30, 2018 and 2017 , 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	6 Months Ended
	Jun. 30, 2018
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 June 30 : U.S. Pension Benefits Non-U.S. Pension Benefits Other U.S. Post-retirement Benefits Total 2018 2017 2018 2017 2018 2017 2018 2017 Service cost, net $ 272 $ 141 $ 3,744 $ 3,952 $ — $ — 4,016 4,093 Interest cost on projected benefit obligations 1,061 1,094 2,131 2,053 16 18 3,208 3,165 Expected return on plan assets (1,732 ) (1,684 ) (7,688 ) (7,629 ) — — (9,420 ) (9,313 ) Recognition of prior service cost — — (1,727 ) (974 ) (93 ) (195 ) (1,820 ) (1,169 ) Recognition of actuarial losses/(gains) 1,451 1,639 5,369 5,058 (313 ) (474 ) 6,507 6,223 Net periodic pension cost/(credit) $ 1,052 $ 1,190 $ 1,829 $ 2,460 $ (390 ) $ (651 ) $ 2,491 $ 2,999 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 six months ended June 30 : U.S. Pension Benefits Non-U.S. Pension Benefits Other U.S. Post-retirement Benefits Total 2018 2017 2018 2017 2018 2017 2018 2017 Service cost, net $ 544 $ 282 $ 7,664 $ 7,976 $ — $ — 8,208 8,258 Interest cost on projected benefit obligations 2,122 2,188 4,354 4,122 32 36 6,508 6,346 Expected return on plan assets (3,464 ) (3,368 ) (15,675 ) (15,014 ) — — (19,139 ) (18,382 ) Recognition of prior service cost — — (3,521 ) (2,797 ) (186 ) (390 ) (3,707 ) (3,187 ) Recognition of actuarial losses/(gains) 2,902 3,278 10,929 10,950 (626 ) (948 ) 13,205 13,280 Net periodic pension cost/(credit) $ 2,104 $ 2,380 $ 3,751 $ 5,237 $ (780 ) $ (1,302 ) $ 5,075 $ 6,315 As previously disclosed in the Company's Annual Report on Form 10-K for the year ended December 31, 2017 , the Company expects to make employer contributions of approximately $25.9 million to its non-U.S. pension plans during the year ended December 31, 2018. This estimate may change based upon several factors, including fluctuations in currency exchange rates, actual returns on plan assets and changes in legal requirements.

Restructuring Charges

Restructuring Charges	6 Months Ended
	Jun. 30, 2018
Restructuring and Related Activities [Abstract]
RESTRUCTURING CHARGES	RESTRUCTURING CHARGES For the three and six months ended June 30, 2018 , the Company has incurred $7.3 million and $11.7 million of restructuring expenses which primarily relates to employee and other cost costs associated with the consolidation of facilities. 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 six months ended June 30, 2018 is as follows: Total Balance at December 31, 2017 $ 10,620 Restructuring charges 11,734 Cash payments and utilization (13,409 ) Impact of foreign currency (130 ) Balance at June 30, 2018 $ 8,815

Other Charges (Income), Net

Other Charges (Income), Net	6 Months Ended
	Jun. 30, 2018
Other Income and Expenses [Abstract]
OTHER CHARGES (INCOME), NET	OTHER CHARGES (INCOME), NET Other charges (income), net includes non-service pension costs (benefits), (gains) losses from foreign currency transactions and related hedging activities, interest income and other items. Nonservice pension benefits were $1.5 million and $1.1 million for the three months ended June 30, 2018 and 2017, respectively, and $3.1 million and $1.9 million and for the six months ended June 30, 2018 and 2017, respectively. Other charges (income), net for the six months ended June 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.

Segment Reporting

Segment Reporting	6 Months Ended
	Jun. 30, 2018
Segment Reporting [Abstract]
SEGMENT REPORTING	SEGMENT REPORTING As disclosed in Note 17 to the Company's consolidated financial statements for the year ended December 31, 2017 , 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 June 30, For the three months ended External Other Total Net Segment 2018 June 30, 2018 Customers Segments Sales Profit Goodwill U.S. Operations $ 251,474 $ 23,487 $ 274,961 $ 42,006 $ 409,470 Swiss Operations 32,154 148,959 181,113 47,737 21,787 Western European Operations 173,772 45,141 218,913 27,333 89,412 Chinese Operations 133,272 58,588 191,860 65,884 678 Other (a) 131,324 1,463 132,787 17,642 15,060 Eliminations and Corporate (b) — (277,638 ) (277,638 ) (31,316 ) — Total $ 721,996 $ — $ 721,996 $ 169,286 $ 536,407 Net Sales to Net Sales to For the six months ended External Other Total Net Segment June 30, 2018 Customers Segments Sales Profit U.S. Operations $ 481,219 $ 47,153 $ 528,372 $ 76,251 Swiss Operations 64,619 292,541 357,160 93,712 Western European Operations 339,144 86,153 425,297 45,615 Chinese Operations 247,202 118,995 366,197 125,437 Other (a) 250,633 3,103 253,736 31,523 Eliminations and Corporate (b) — (547,945 ) (547,945 ) (63,706 ) Total $ 1,382,817 $ — $ 1,382,817 $ 308,832 (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 June 30, For the three months ended External Other Total Net Segment 2017 June 30, 2017 Customers Segments Sales Profit Goodwill U.S. Operations $ 238,831 $ 23,092 $ 261,923 $ 45,147 $ 357,782 Swiss Operations 32,287 131,347 163,634 37,950 22,544 Western European Operations 151,161 43,883 195,044 24,709 87,388 Chinese Operations 108,092 57,036 165,128 54,127 653 Other (a) 123,285 2,129 125,414 15,181 15,390 Eliminations and Corporate (b) — (257,487 ) (257,487 ) (29,708 ) — Total $ 653,656 $ — $ 653,656 $ 147,406 $ 483,757 Net Sales to Net Sales to For the six months ended External Other Total Net Segment June 30, 2017 Customers Segments Sales Profit U.S. Operations $ 454,184 $ 45,505 $ 499,689 $ 83,969 Swiss Operations 62,034 258,899 320,933 73,968 Western European Operations 298,484 86,825 385,309 49,427 Chinese Operations 198,873 109,969 308,842 98,787 Other (a) 234,648 3,726 238,374 28,289 Eliminations and Corporate (b) — (504,924 ) (504,924 ) (60,501 ) Total $ 1,248,223 $ — $ 1,248,223 $ 273,939 (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 six month periods ended June 30 follows: Three Months Ended Six Months Ended 2018 2017 2018 2017 Earnings before taxes $ 143,602 $ 126,847 $ 261,041 $ 240,695 Amortization 11,970 10,249 23,705 20,294 Interest expense 8,309 8,171 16,668 15,912 Restructuring charges 7,321 4,023 11,734 5,455 Other charges (income), net (1,916 ) (1,884 ) (4,316 ) (8,417 ) Segment profit $ 169,286 $ 147,406 $ 308,832 $ 273,939 During the three months ended June 30, 2018 , restructuring charges of $7.3 million were recognized, of which $6.4 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 $4.0 million were recognized during the three months ended June 30, 2017 , of which $2.2 million , $0.5 million , $0.7 million and $0.6 million , related to the Company’s U.S., Swiss, and Western European Operations, respectively. Restructuring charges of $11.7 million were recognized during the six months ended June 30, 2018 , of which $10.0 million , $0.7 million , $0.9 million , and $0.1 million related to the Company’s U.S., Swiss, Western European, and Other Operations, respectively. Restructuring charges of $5.5 million were recognized during the six months ended June 30, 2017 , of which $3.0 million , $0.9 million , $0.7 million , $0.1 million and $ 0.8 million related to the Company’s U.S., Swiss, Western European, Chinese and Other Operations, respectively.

Contingencies

Contingencies	6 Months Ended
	Jun. 30, 2018
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)	6 Months Ended
	Jun. 30, 2018
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: June 30, December 31, Raw materials and parts $ 121,265 $ 118,790 Work-in-progress 50,186 43,035 Finished goods 98,596 93,565 $ 270,047 $ 255,390
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: June 30, 2018 December 31, 2017 Gross Amount Accumulated Amortization Intangibles, Net Gross Amount Accumulated Amortization Intangibles, Net Customer relationships $ 197,817 $ (45,864 ) $ 151,953 $ 198,527 $ (41,794 ) $ 156,733 Proven technology and patents 70,156 (40,720 ) 29,436 70,311 (38,890 ) 31,421 Tradenames (finite life) 4,494 (2,817 ) 1,677 4,518 (2,807 ) 1,711 Tradenames (indefinite life) 35,520 — 35,520 35,562 — 35,562 Other 3,631 (2,359 ) 1,272 3,490 (2,199 ) 1,291 $ 311,618 $ (91,760 ) $ 219,858 $ 312,408 $ (85,690 ) $ 226,718 The Company recognized amortization expense associated with the above intangible assets of $3.5 million and $2.5 million for the three months ended June 30, 2018 and 2017 , respectively and $7.1 million and $5.0 million for the six months ended June 30, 2018 and 2017 , respectively. The annual aggregate amortization expense based on the current balance of other intangible assets is estimated at $14.0 million for 2018 , $13.4 million for 2019 , $13.1 million for 2020 , $12.5 million for 2021 , $12.0 million for 2022 and $11.8 million for 2023 . Purchased intangible amortization was $3.3 million , $2.5 million after tax, and $2.3 million , $1.5 million after tax, for the three months ended June 30, 2018 and 2017 , respectively and $6.7 million , $5.0 million after tax, and $4.6 million , $3.0 million after tax, for the six months ended June 30, 2018 and 2017 , respectively. In addition to the above amortization, the Company recorded amortization expense associated with capitalized software of $8.4 million and $7.7 million for the three months ended June 30, 2018 and 2017 , respectively and $16.5 million and $15.2 million for the six months ended June 30, 2018 and 2017 , respectively.
Revenue Recognition	Revenue Recognition Product revenue is recognized from contracts with customers when a customer has obtained control of a product. The Company considers control to have transferred upon shipment or delivery. To the extent the Company’s contracts have a separate performance obligation, revenue related to any post-shipment performance obligation is deferred until completed. Shipping and handling costs charged to customers are included in total net sales and the associated expense is a component of cost of sales. Certain products are also sold through indirect distribution channels whereby the distributor assumes any further obligations to the end customer. Revenue is recognized on these distributor arrangements upon transfer of control to the distributor. Contracts do not contain variable pricing arrangements that are retrospective, except for rebate programs. Rebates are estimated based on expected sales volumes and offset against revenue at the time such revenue is recognized. 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. The provisions for estimated returns and rebates are immaterial to the consolidated financial statements. Certain of the Company’s arrangements include separate performance obligations, primarily related to installation. Such performance obligations are accounted for separately when the deliverables have stand-alone value and the satisfaction of the undelivered performance obligations is probable and within the Company's control. The allocation of revenue between the performance obligations is based on the observable standalone selling prices at the time of the sale in accordance with a number of factors including service technician billing rates, time to install and geographic location. Software is generally not considered a distinct performance obligation with the exception of a few small software applications. The Company does not sell software products without the related hardware instrument as the software is embedded in the product. 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. Service revenue not under contract is recognized upon the completion of the service performed. Revenue from spare parts sold on a stand-alone basis is recognized when control is transferred to the customer, which is generally at the time of shipment or delivery. Revenue from service contracts is recognized ratably over the contract period using a time-based method. 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.
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 $3.9 million and $8.2 million of share-based compensation expense for the three and six months ended June 30, 2018 , respectively, compared to $3.9 million and $7.8 million for the corresponding periods in 2017 .
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.
New Accounting Pronouncements, Policy [Policy Text Block]	Recent Accounting Pronouncements On January 1, 2018 the Company retrospectively implemented ASU 2017-7 to ASC 715 "Compensation - Retirement Benefits," which requires the Company to report the non-service cost components of net periodic benefit cost (pension cost) in other charges (income), net. These amounts were previously reported in selling, general, and administrative, cost of sales and research and development in the consolidated statement of operations. Nonservice pension benefits were $1.5 million and $1.1 million for the three months ended June 30, 2018 and 2017, respectively, and $3.1 million and $1.9 million and for the six months ended June 30, 2018 and 2017, respectively. 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. The Company's primary leasing arrangements are related to leased facilities and vehicle fleet leases. The Company is currently evaluating the impact of this guidance. In February 2018, the FASB issued ASU 2018-02, "Income Statement - Reporting Comprehensive Income". The accounting update provided entities with guidance on how to reclassify certain stranded tax effects from accumulated other comprehensive income as a result of the Tax Cuts and Jobs Act, which was a tax bill enacted by the U.S. government in December 2017. The new guidance is effective for the year beginning January 1, 2019 and the Company is still evaluating the impact on the financial statements.

Summary of Significant Accoun23

Summary of Significant Accounting Policies (Tables)	6 Months Ended
	Jun. 30, 2018
Accounting Policies [Abstract]
Components of inventories	Inventories consisted of the following: June 30, December 31, Raw materials and parts $ 121,265 $ 118,790 Work-in-progress 50,186 43,035 Finished goods 98,596 93,565 $ 270,047 $ 255,390
Components of other intangible assets	Other intangible assets consisted of the following: June 30, 2018 December 31, 2017 Gross Amount Accumulated Amortization Intangibles, Net Gross Amount Accumulated Amortization Intangibles, Net Customer relationships $ 197,817 $ (45,864 ) $ 151,953 $ 198,527 $ (41,794 ) $ 156,733 Proven technology and patents 70,156 (40,720 ) 29,436 70,311 (38,890 ) 31,421 Tradenames (finite life) 4,494 (2,817 ) 1,677 4,518 (2,807 ) 1,711 Tradenames (indefinite life) 35,520 — 35,520 35,562 — 35,562 Other 3,631 (2,359 ) 1,272 3,490 (2,199 ) 1,291 $ 311,618 $ (91,760 ) $ 219,858 $ 312,408 $ (85,690 ) $ 226,718

Revenue from Contracts with C24

Revenue from Contracts with Customers (Tables)	6 Months Ended
	Jun. 30, 2018
Revenue from Contract with Customer [Abstract]
Disaggregation of Revenue [Table Text Block]	Three months ended June 30, 2018 U.S. Operations Swiss Operations Western European Operations Chinese Operations Other Operations Total Product Revenue $ 191,511 $ 25,163 $ 124,336 $ 119,709 $ 101,757 $ 562,476 Service Revenue: Point in time 49,985 4,919 33,081 10,885 24,969 123,839 Over time 9,978 2,072 16,355 2,678 4,598 35,681 Total $ 251,474 $ 32,154 $ 173,772 $ 133,272 $ 131,324 $ 721,996 Six months ended June 30, 2018 U.S. Operations Swiss Operations Western European Operations Chinese Operations Other Operations Total Product Revenue $ 364,012 $ 50,728 $ 241,268 $ 224,002 $ 193,412 $ 1,073,422 Service Revenue: Point in time 97,605 9,748 62,966 18,012 49,208 237,539 Over time 19,602 4,143 34,910 5,188 8,013 71,856 Total $ 481,219 $ 64,619 $ 339,144 $ 247,202 $ 250,633 $ 1,382,817 A summary of revenue by major geographic destination for the three and six months ended June 30 follows: Three months ended June 30, 2018 Six months ended June 30, 2018 Americas $ 274,328 $ 526,607 Europe 220,718 426,558 Asia / Rest of World 226,950 429,652 Total $ 721,996 $ 1,382,817 The Company's global revenue mix by product category is laboratory ( 51% of sales), industrial ( 41% of sales) and retail ( 8% of sales). The Company's product revenue by reportable segment is proportionately similar to the Company's global mix except the Company's Swiss Operations is largely comprised of laboratory products while the Company's Chinese Operations has a slightly higher percentage of industrial products. A summary of the Company’s revenue by product category for the three and six months ended June 30, 2018 is as follows: Three months ended June 30, 2018 Six months ended June 30, 2018 Laboratory $ 361,726 $ 706,885 Industrial 305,277 567,933 Retail 54,993 107,999 Total $ 721,996 $ 1,382,817
Contract with Customer, Asset and Liability [Table Text Block]	Deferred Revenue and Customer Pre-payments Beginning balances as of December 31, 2017 $ 107,166 Customer pre-payments/deferred revenue 282,446 Revenue recognized (260,280 ) Foreign currency translation (2,497 ) Ending balance as of June 30, 2018 $ 126,835

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
	Jun. 30, 2018
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 June 30, 2018 and December 31, 2017 : June 30, 2018 December 31, 2017 Total Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Assets: Cash equivalents $ 13,402 $ — $ 13,402 $ — $ 5,616 $ — $ 5,616 $ — Interest rate swap agreements 1,727 — 1,727 — — — — — Cross currency swap agreement 1,849 — 1,849 — — — — — Foreign currency forward contracts not designated as hedging instruments 925 — 925 — 1,912 — 1,912 — Total $ 17,903 $ — $ 17,903 $ — $ 7,528 $ — $ 7,528 $ — Liabilities: Interest rate swap agreements $ — $ — $ — $ — $ 1,292 $ — $ 1,292 $ — Cross currency swap agreement — — — — 106 — 106 — Foreign currency forward contracts not designated as hedging instruments 2,720 — 2,720 — 986 — 986 — Total $ 2,720 $ — $ 2,720 $ — $ 2,384 $ — $ 2,384 $ —

Debt (Tables)

Debt (Tables)	6 Months Ended
	Jun. 30, 2018
Debt Disclosure [Abstract]
Debt	Debt consisted of the following at June 30, 2018 : June 30, 2018 U.S. Dollar Other Principal Trading Currencies Total $50 million Senior Notes, interest 3.67%, due December 17, 2022 50,000 — 50,000 $50 million Senior Notes, interest 4.10%, due September 19, 2023 50,000 — 50,000 $125 million Senior Notes, interest 3.84%, due September 19, 2024 125,000 — 125,000 $125 million Senior Notes, interest 4.24%, due June 25, 2025 125,000 — 125,000 EUR 125 million Senior Notes, interest 1.47%, due June 17, 2030 — 145,163 145,163 Debt issuance costs, net (994 ) (342 ) (1,336 ) Total Senior Notes 349,006 144,821 493,827 $1.1 billion Credit Agreement, interest at LIBOR plus 87.5 basis points 469,719 56,874 526,593 Other local arrangements 359 51,693 52,052 Total debt 819,084 253,388 1,072,472 Less: current portion (359 ) (51,693 ) (52,052 ) Total long-term debt $ 818,725 $ 201,695 $ 1,020,420

Other Comprehensive Income (Tab

Other Comprehensive Income (Tables)	6 Months Ended
	Jun. 30, 2018
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 six months ended June 30, 2018 and 2017 : 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, 2017 $ (31,340 ) $ (1,081 ) $ (232,985 ) $ (265,406 ) Other comprehensive income (loss), net of tax: Unrealized gains (losses) cash flow hedging arrangements — 1,782 — 1,782 Foreign currency translation adjustment (13,894 ) — 3,865 (10,029 ) Amounts recognized from accumulated other comprehensive income (loss), net of tax — 682 7,250 7,932 Net change in other comprehensive income (loss), net of tax (13,894 ) 2,464 11,115 (315 ) Balance at June 30, 2018 $ (45,234 ) $ 1,383 $ (221,870 ) $ (265,721 )
Disclosure of Reclassification Amount [Text Block]	The following table presents amounts recognized from accumulated other comprehensive income (loss) for the three and six month periods ended June 30 : Three months ended June 30, 2018 2017 Location of Amounts Recognized in Earnings Effective portion of (gains) / losses on cash flow hedging arrangements: Interest rate swap agreements $ 158 $ 505 Interest expense Cross currency swap agreement 4,098 1,412 (a) Total before taxes 4,256 1,917 Provision for taxes 360 305 Provision for taxes Total, net of taxes $ 3,896 $ 1,612 Recognition of defined benefit pension and post-retirement items: Recognition of actuarial losses and prior service cost, before taxes $ 4,687 $ 5,054 (b) Provision for taxes 1,123 1,301 Provision for taxes Total, net of taxes $ 3,564 $ 3,753
Schedule of Comprehensive Income (Loss) [Table Text Block]	Comprehensive income (loss), net of tax consisted of the following as of June 30 : Three Months Ended Six Months Ended 2018 2017 2018 2017 Net earnings $ 111,468 $ 101,580 $ 204,772 $ 194,046 Other comprehensive income (loss), net of tax (29,205 ) 32,734 (315 ) 56,612 Comprehensive income, net of tax $ 82,263 $ 134,314 $ 204,457 $ 250,658

Earnings Per Common Share (Tabl

Earnings Per Common Share (Tables)	6 Months Ended
	Jun. 30, 2018
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 six month periods ended June 30, relating to outstanding stock options and restricted stock units: 2018 2017 Three months ended 567,969 688,155 Six months ended 596,106 673,068

Net Periodic Benefit Cost (Tabl

Net Periodic Benefit Cost (Tables)	6 Months Ended
	Jun. 30, 2018
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 June 30 : U.S. Pension Benefits Non-U.S. Pension Benefits Other U.S. Post-retirement Benefits Total 2018 2017 2018 2017 2018 2017 2018 2017 Service cost, net $ 272 $ 141 $ 3,744 $ 3,952 $ — $ — 4,016 4,093 Interest cost on projected benefit obligations 1,061 1,094 2,131 2,053 16 18 3,208 3,165 Expected return on plan assets (1,732 ) (1,684 ) (7,688 ) (7,629 ) — — (9,420 ) (9,313 ) Recognition of prior service cost — — (1,727 ) (974 ) (93 ) (195 ) (1,820 ) (1,169 ) Recognition of actuarial losses/(gains) 1,451 1,639 5,369 5,058 (313 ) (474 ) 6,507 6,223 Net periodic pension cost/(credit) $ 1,052 $ 1,190 $ 1,829 $ 2,460 $ (390 ) $ (651 ) $ 2,491 $ 2,999 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 six months ended June 30 : U.S. Pension Benefits Non-U.S. Pension Benefits Other U.S. Post-retirement Benefits Total 2018 2017 2018 2017 2018 2017 2018 2017 Service cost, net $ 544 $ 282 $ 7,664 $ 7,976 $ — $ — 8,208 8,258 Interest cost on projected benefit obligations 2,122 2,188 4,354 4,122 32 36 6,508 6,346 Expected return on plan assets (3,464 ) (3,368 ) (15,675 ) (15,014 ) — — (19,139 ) (18,382 ) Recognition of prior service cost — — (3,521 ) (2,797 ) (186 ) (390 ) (3,707 ) (3,187 ) Recognition of actuarial losses/(gains) 2,902 3,278 10,929 10,950 (626 ) (948 ) 13,205 13,280 Net periodic pension cost/(credit) $ 2,104 $ 2,380 $ 3,751 $ 5,237 $ (780 ) $ (1,302 ) $ 5,075 $ 6,315

Restructuring Charges (Tables)

Restructuring Charges (Tables)	6 Months Ended
	Jun. 30, 2018
Restructuring Cost and Reserve [Line Items]
Company's accrual for restructuring activities	A rollforward of the Company’s accrual for restructuring activities for the six months ended June 30, 2018 is as follows: Total Balance at December 31, 2017 $ 10,620 Restructuring charges 11,734 Cash payments and utilization (13,409 ) Impact of foreign currency (130 ) Balance at June 30, 2018 $ 8,815

Segment Reporting (Tables)

Segment Reporting (Tables)	6 Months Ended
	Jun. 30, 2018
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 June 30, For the three months ended External Other Total Net Segment 2018 June 30, 2018 Customers Segments Sales Profit Goodwill U.S. Operations $ 251,474 $ 23,487 $ 274,961 $ 42,006 $ 409,470 Swiss Operations 32,154 148,959 181,113 47,737 21,787 Western European Operations 173,772 45,141 218,913 27,333 89,412 Chinese Operations 133,272 58,588 191,860 65,884 678 Other (a) 131,324 1,463 132,787 17,642 15,060 Eliminations and Corporate (b) — (277,638 ) (277,638 ) (31,316 ) — Total $ 721,996 $ — $ 721,996 $ 169,286 $ 536,407 Net Sales to Net Sales to For the six months ended External Other Total Net Segment June 30, 2018 Customers Segments Sales Profit U.S. Operations $ 481,219 $ 47,153 $ 528,372 $ 76,251 Swiss Operations 64,619 292,541 357,160 93,712 Western European Operations 339,144 86,153 425,297 45,615 Chinese Operations 247,202 118,995 366,197 125,437 Other (a) 250,633 3,103 253,736 31,523 Eliminations and Corporate (b) — (547,945 ) (547,945 ) (63,706 ) Total $ 1,382,817 $ — $ 1,382,817 $ 308,832 (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 June 30, For the three months ended External Other Total Net Segment 2017 June 30, 2017 Customers Segments Sales Profit Goodwill U.S. Operations $ 238,831 $ 23,092 $ 261,923 $ 45,147 $ 357,782 Swiss Operations 32,287 131,347 163,634 37,950 22,544 Western European Operations 151,161 43,883 195,044 24,709 87,388 Chinese Operations 108,092 57,036 165,128 54,127 653 Other (a) 123,285 2,129 125,414 15,181 15,390 Eliminations and Corporate (b) — (257,487 ) (257,487 ) (29,708 ) — Total $ 653,656 $ — $ 653,656 $ 147,406 $ 483,757 Net Sales to Net Sales to For the six months ended External Other Total Net Segment June 30, 2017 Customers Segments Sales Profit U.S. Operations $ 454,184 $ 45,505 $ 499,689 $ 83,969 Swiss Operations 62,034 258,899 320,933 73,968 Western European Operations 298,484 86,825 385,309 49,427 Chinese Operations 198,873 109,969 308,842 98,787 Other (a) 234,648 3,726 238,374 28,289 Eliminations and Corporate (b) — (504,924 ) (504,924 ) (60,501 ) Total $ 1,248,223 $ — $ 1,248,223 $ 273,939 (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 six month periods ended June 30 follows: Three Months Ended Six Months Ended 2018 2017 2018 2017 Earnings before taxes $ 143,602 $ 126,847 $ 261,041 $ 240,695 Amortization 11,970 10,249 23,705 20,294 Interest expense 8,309 8,171 16,668 15,912 Restructuring charges 7,321 4,023 11,734 5,455 Other charges (income), net (1,916 ) (1,884 ) (4,316 ) (8,417 ) Segment profit $ 169,286 $ 147,406 $ 308,832 $ 273,939

Summary of Significant Accoun32

Summary of Significant Accounting Policies (Details) - USD ($) $ in Thousands	Jun. 30, 2018	Dec. 31, 2017
Components of inventory
Raw materials and parts	$ 121,265	$ 118,790
Work-in-progress	50,186	43,035
Finished goods	98,596	93,565
Total Inventory, Net	$ 270,047	$ 255,390

Summary of Significant Accoun33

Summary of Significant Accounting Policies (Details 1) - USD ($) $ in Thousands	Jun. 30, 2018	Dec. 31, 2017
Intangible Assets [Line Items]
Intangible Assets, Gross (Excluding Goodwill)	$ 311,618	$ 312,408
Accumulated Amortization	(91,760)	(85,690)
Intangible Assets, Net (Excluding Goodwill)	219,858	226,718
Tradename (indefinite life) [Member]
Intangible Assets [Line Items]
Gross amount, Tradename (indefinite life)	35,520	35,562
Intangible Assets, Net (Excluding Goodwill)	35,520	35,562
Customer Relationships [Member]
Intangible Assets [Line Items]
Gross amount	197,817	198,527
Accumulated Amortization	(45,864)	(41,794)
Intangible Assets, Net (Excluding Goodwill)	151,953	156,733
Proven technology and patents [Member]
Intangible Assets [Line Items]
Gross amount	70,156	70,311
Accumulated Amortization	(40,720)	(38,890)
Intangible Assets, Net (Excluding Goodwill)	29,436	31,421
Tradename (indefinite life) [Member]
Intangible Assets [Line Items]
Gross amount	4,494	4,518
Accumulated Amortization	(2,817)	(2,807)
Intangible Assets, Net (Excluding Goodwill)	1,677	1,711
Other Intangible Assets [Member]
Intangible Assets [Line Items]
Gross amount	3,631	3,490
Accumulated Amortization	(2,359)	(2,199)
Intangible Assets, Net (Excluding Goodwill)	$ 1,272	$ 1,291

Summary of Significant Accoun34

Summary of Significant Accounting Policies (Details Textuals) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Summary of Significant Accounting Policies (Textuals) [Abstract]
Amortization expense	$ 3.5	$ 2.5	$ 7.1	$ 5
Future Amortization Expense Current Year			14
Aggregate amortization expense for 2019	13.4		13.4
Aggregate amortization expense for 2020	13.1		13.1
Aggregate amortization expense for 2021	12.5		12.5
Aggregate amortization expense for 2022	12		12
Aggregate amortization expense for 2023	11.8		11.8
Purchased Intangible Amortization, Gross	3.3	2.3	6.7	4.6
Purchased intangible amortization, net of tax	2.5	1.5	5	3
Amortization expense associated with capitalized software	8.4	7.7	$ 16.5	15.2
Standard Warranty Period			one
Share - based compensation expense	3.9	3.9	$ 8.2	7.8
Impact of Adopting ASU 2017-07 ASC 715 Compensation Retirement Benefit	$ 1.5	$ 1.1	$ 3.1	$ 1.9

Revenue from Contracts with C35

Revenue from Contracts with Customers (Details) $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 30, 2018USD ($)Rate	Jun. 30, 2018USD ($)Rate
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	$ 721,996	$ 1,382,817
Americas [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	274,328	526,607
Europe [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	220,718	426,558
Asia [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	226,950	429,652
Product [Member] | Transferred at Point in Time [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	562,476	1,073,422
Service [Member] | Transferred at Point in Time [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	123,839	237,539
Service [Member] | Transferred over Time [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	$ 35,681	$ 71,856
Laboratory products and services [Member]
Disaggregation of Revenue [Line Items]
Percentage of Disaggregated Revenue in Relationship to Segments | Rate	51.1192%	51.1192%
Revenue from Contract with Customer, Excluding Assessed Tax	$ 361,726	$ 706,885
Industrial products and services [Member]
Disaggregation of Revenue [Line Items]
Percentage of Disaggregated Revenue in Relationship to Segments | Rate	41.27073%	41.27073%
Revenue from Contract with Customer, Excluding Assessed Tax	$ 305,277	$ 567,933
Retail products and services [Member]
Disaggregation of Revenue [Line Items]
Percentage of Disaggregated Revenue in Relationship to Segments | Rate	7.81007%	7.81007%
Revenue from Contract with Customer, Excluding Assessed Tax	$ 54,993	$ 107,999
US Operations [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	251,474	481,219
US Operations [Member] | Product [Member] | Transferred at Point in Time [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	191,511	364,012
US Operations [Member] | Service [Member] | Transferred at Point in Time [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	49,985	97,605
US Operations [Member] | Service [Member] | Transferred over Time [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	9,978	19,602
Swiss Operations [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	32,154	64,619
Swiss Operations [Member] | Product [Member] | Transferred at Point in Time [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	25,163	50,728
Swiss Operations [Member] | Service [Member] | Transferred at Point in Time [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	4,919	9,748
Swiss Operations [Member] | Service [Member] | Transferred over Time [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	2,072	4,143
Western European Operations [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	173,772	339,144
Western European Operations [Member] | Product [Member] | Transferred at Point in Time [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	124,336	241,268
Western European Operations [Member] | Service [Member] | Transferred at Point in Time [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	33,081	62,966
Western European Operations [Member] | Service [Member] | Transferred over Time [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	16,355	34,910
Chinese Operations [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	133,272	247,202
Chinese Operations [Member] | Product [Member] | Transferred at Point in Time [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	119,709	224,002
Chinese Operations [Member] | Service [Member] | Transferred at Point in Time [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	10,885	18,012
Chinese Operations [Member] | Service [Member] | Transferred over Time [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	2,678	5,188
Other Operations [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	131,324	250,633
Other Operations [Member] | Product [Member] | Transferred at Point in Time [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	101,757	193,412
Other Operations [Member] | Service [Member] | Transferred at Point in Time [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	24,969	49,208
Other Operations [Member] | Service [Member] | Transferred over Time [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	$ 4,598	$ 8,013

Revenue from Contracts with C36

Revenue from Contracts with Customers Details 2 - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2018	Dec. 31, 2017
Revenue from Contract with Customer [Abstract]
Contract with Customer, Asset, Net	$ 16,700
Deferred Revenue and Credits, Current	126,835	$ 107,166
Customer prepayments and deferred revenue	282,446
Contract with Customer, Liability, Revenue Recognized	(260,280)
Temporary Equity, Foreign Currency Translation Adjustments	$ (2,497)

Business Combinations (Details)

Business Combinations (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017
Business Acquisition [Line Items]
Payments to Acquire Businesses, Net of Cash Acquired	$ 500	$ 697

Financial Instruments Financial

Financial Instruments Financial Instruments Textual (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017	Dec. 31, 2017
Derivative [Line Items]
Cash Flow Hedge Gain (Loss) to be Reclassified within Twelve Months			$ 3,100
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	407,100		407,100		$ 394,800
Gain (Loss) on Foreign Currency Derivative Instruments Not Designated as Hedging Instruments	$ 1,500	$ (100)	$ (4,200)	$ (1,900)

Fair Value Measurements (Detail

Fair Value Measurements (Details) - USD ($) $ in Thousands	Jun. 30, 2018	Dec. 31, 2017
Assets:
Cash Equivalents	$ 13,402	$ 5,616
Interest Rate Cash Flow Hedge Asset at Fair Value	1,727	0
Foreign Currency Cash Flow Hedge Asset at Fair Value	1,849	0
Fair Value, Measurements, Recurring [Member]
Assets:
Foreign Currency Derivative Instruments Not Designated As Hedging Instruments Asset At Fair Value	925	1,912
Total Assets at Fair Value	17,903	7,528
Liabilities:
Interest Rate Cash Flow Hedge Liability at Fair Value	0	1,292
Foreign Currency Cash Flow Hedge Liability at Fair Value	0	106
Foreign Currency Derivative Instruments Not Designated As Hedging Instruments Liability At Fair Value	2,720	986
Liabilities at Fair Value	2,720	2,384
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member]
Assets:
Cash Equivalents	0	0
Interest Rate Cash Flow Hedge Asset at Fair Value	0	0
Foreign Currency Cash Flow Hedge Asset at Fair Value	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	13,402	5,616
Interest Rate Cash Flow Hedge Asset at Fair Value	1,727	0
Foreign Currency Cash Flow Hedge Asset at Fair Value	1,849	0
Foreign Currency Derivative Instruments Not Designated As Hedging Instruments Asset At Fair Value	925	1,912
Total Assets at Fair Value	17,903	7,528
Liabilities:
Interest Rate Cash Flow Hedge Liability at Fair Value	0	1,292
Foreign Currency Cash Flow Hedge Liability at Fair Value	0	106
Foreign Currency Derivative Instruments Not Designated As Hedging Instruments Liability At Fair Value	2,720	986
Liabilities at Fair Value	2,720	2,384
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member]
Assets:
Cash Equivalents	0	0
Interest Rate Cash Flow Hedge Asset at Fair Value	0	0
Foreign Currency Cash Flow Hedge Asset at Fair Value	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 (Deta40

Fair Value Measurements (Details Textuals) - USD ($) $ in Thousands	Jun. 30, 2018	Dec. 31, 2017
Derivative Asset	$ 4,500	$ 1,900
Cash Equivalents	13,402	5,616
Change in Carrying Value Verse Fair Value of Long Term Debt	500
Business Combination, Contingent Consideration, Liability	30,900
Fair Value, Measurements, Recurring [Member]
Liabilities at Fair Value	$ 2,720	$ 2,384

Income Taxes (Details)

Income Taxes (Details)	3 Months Ended		6 Months Ended
	Jun. 30, 2018Rate	Jun. 30, 2017Rate	Jun. 30, 2018Rate	Jun. 30, 2017Rate
Effective Income Tax Rate Reconciliation, Percent	22.40%	19.90%	21.60%	19.40%
Projected Annual Effective Tax Rate			22.00%
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent			35.00%
US Federal Corporate Income Tax Rate			21.00%

Debt (Details)

Debt (Details) € in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2018USD ($)Rate	Jun. 30, 2017USD ($)	Jun. 30, 2018USD ($)Rate	Jun. 30, 2017USD ($)	Jun. 30, 2018EUR (€)Rate
Long-Term Debt, by Current and Noncurrent, and Short-Term Debt
Senior Notes	$ 493,827,000		$ 493,827,000
Unamortized Debt Issuance Expense	(1,336,000)		(1,336,000)
Total debt	1,072,472,000		1,072,472,000
Debt, Current	52,052,000		52,052,000
Long-term Debt	1,020,420,000		1,020,420,000
Gain (Loss) on Derivative Used in Net Investment Hedge, after Tax	(10,100,000)	$ 7,100,000	(4,600,000)	$ 10,500,000
Line of Credit Facility, Remaining Borrowing Capacity	566,900,000		566,900,000
Us Dollar Amounts Member
Long-Term Debt, by Current and Noncurrent, and Short-Term Debt
Senior Notes	349,006,000		349,006,000
Unamortized Debt Issuance Expense	(994,000)		(994,000)
Total debt	819,084,000		819,084,000
Debt, Current	359,000		359,000
Long-term Debt	818,725,000		818,725,000
Other Principal Trading Currencies [Member]
Long-Term Debt, by Current and Noncurrent, and Short-Term Debt
Senior Notes	144,821,000		144,821,000
Unamortized Debt Issuance Expense	(342,000)		(342,000)
Total debt	253,388,000		253,388,000
Debt, Current	51,693,000		51,693,000
Long-term Debt	$ 201,695,000		$ 201,695,000
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	$ 50,000,000		$ 50,000,000
3.67% Senior Notes [Member] | Us Dollar Amounts Member
Long-Term Debt, by Current and Noncurrent, and Short-Term Debt
Senior Notes	50,000,000		50,000,000
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	$ 50,000,000		$ 50,000,000
4.10% Senior Notes [Member] | Us Dollar Amounts Member
Long-Term Debt, by Current and Noncurrent, and Short-Term Debt
Senior Notes	50,000,000		50,000,000
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	$ 125,000,000		$ 125,000,000
3.84% Senior Notes [Member] | Us Dollar Amounts Member
Long-Term Debt, by Current and Noncurrent, and Short-Term Debt
Senior Notes	125,000,000		125,000,000
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	$ 125,000,000		$ 125,000,000
4.24% Senior Notes [Member] | Us Dollar Amounts Member
Long-Term Debt, by Current and Noncurrent, and Short-Term Debt
Senior Notes	125,000,000		125,000,000
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	$ 145,163,000		$ 145,163,000		€ 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	$ 145,163,000		$ 145,163,000
Credit facility [Member]
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage | Rate	0.875%		0.875%		0.875%
Debt Instrument, Maturity Date			Jun. 15, 2023
Long-Term Debt, by Current and Noncurrent, and Short-Term Debt
Senior Notes	$ 1,100,000,000		$ 1,100,000,000
Line of Credit Facility, Fair Value of Amount Outstanding	526,593,000		$ 526,593,000
Debt Instrument, Covenant Description			Borrowings under the Credit Agreement bear interest at current market rates plus a margin based on the Company’s consolidated leverage ratio, which was set at LIBOR plus 87.5 basis points as of June 15, 2018. The Company must also pay facility fees that are tied to its leverage ratio. The Credit Agreement contains covenants that are the same as those contained in the prior Credit Agreement, with which the Company was in compliance as of June 30, 2018. The Company is required to maintain a ratio of funded debt to Consolidated EBITDA of 3.5 to1.0 or less and an interest coverage ration of 3.5 to 1.0 or greater. The Credit Agreement also places certain limitations on the Company, including limiting the ability to incur liens or indebtedness at a subsidiary level. In addition, the Credit Agreement has several events of default.
Write off of Deferred Debt Issuance Cost			$ 0.1
Debt Issuance Costs, Line of Credit Arrangements, Gross	2		2
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	469,719,000		469,719,000
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	56,874,000		56,874,000
Other local arrangements [Member]
Long-Term Debt, by Current and Noncurrent, and Short-Term Debt
Other Borrowings	52,052,000		52,052,000
Other local arrangements [Member] | Us Dollar Amounts Member
Long-Term Debt, by Current and Noncurrent, and Short-Term Debt
Other Borrowings	359,000		359,000
Other local arrangements [Member] | Other Principal Trading Currencies [Member]
Long-Term Debt, by Current and Noncurrent, and Short-Term Debt
Other Borrowings	$ 51,693,000		$ 51,693,000
Swiss Pension Loans [Member]
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage | Rate	0.875%		0.875%		0.875%
Long-Term Debt, by Current and Noncurrent, and Short-Term Debt
Swiss Pension Loans (local currency)	$ 38		$ 38
Notes Payable, Related Parties	$ 39.6		$ 39.6

Share Repurchase Program and 43

Share Repurchase Program and Treasury Stock (Details) - USD ($) $ / shares in Units, $ in Thousands	6 Months Ended		12 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Dec. 31, 2017
Share Repurchase Program and Treasury Stock (Textuals) [Abstract]
Remaining Amount to Repurchase under the program	$ 345,900
Shares Purchased Under Share Repurchase Program	27,100,000
Treasury Stock, Value, Acquired, Cost Method	$ 237,499	$ 249,900	$ 399,997
Number of shares repurchased	(396,218)	(505,593)
Average price of share repurchased, per share	$ 599.40	$ 494.35
Exercise of stock options and restricted stock units, shares reissued	68,653	153,413

Other Comprehensive Income (Det

Other Comprehensive Income (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Dec. 31, 2017	Dec. 31, 2015
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated Other Comprehensive Income (Loss), Net of Tax	$ (265,721)	$ (298,386)	$ (265,406)	$ (354,998)
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax	1,782	(2,016)
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment, Net of Tax	(10,029)	49,339
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax	7,932	9,289
Other Comprehensive Income (Loss), Net of Tax	(315)	56,612
Accumulated Translation Adjustment [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated Other Comprehensive Income (Loss), Net of Tax	(45,234)	(54,023)	(31,340)	(115,322)
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax	0	0
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment, Net of Tax	(13,894)	61,299
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax	0	0
Other Comprehensive Income (Loss), Net of Tax	(13,894)	61,299
Accumulated Gain (Loss), Net, Cash Flow Hedge, Parent [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated Other Comprehensive Income (Loss), Net of Tax	1,383	(2,424)	(1,081)	(2,232)
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax	1,782	(2,016)
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment, Net of Tax	0	0
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax	682	1,824
Other Comprehensive Income (Loss), Net of Tax	2,464	(192)
Accumulated Defined Benefit Plans Adjustment [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated Other Comprehensive Income (Loss), Net of Tax	(221,870)	(241,939)	$ (232,985)	$ (237,444)
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax	0	0
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment, Net of Tax	3,865	(11,960)
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax	7,250	7,465
Other Comprehensive Income (Loss), Net of Tax	$ 11,115	$ (4,495)

Other Comprehensive Income Deta

Other Comprehensive Income Details 2 (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Derivatives Arising During Period, before Tax	$ 4,256	$ 1,917	$ 822	$ 2,261
Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Derivatives Arising During Period, Tax	360	305	140	437
Other Comprehensive Income (Loss), Reclassification Adjustment on Derivatives Included in Net Income, Net of Tax	3,896	1,612	682	1,824
Other Comprehensive Income (Loss), Pension and Other Postretirement Benefit Plans, Adjustment, before Tax, Portion Attributable to Parent	4,687	5,054	9,498	10,093
Other Comprehensive Income (Loss), Pension and Other Postretirement Benefit Plans, Tax, Portion Attributable to Parent	1,123	1,301	2,248	2,628
Other Comprehensive Income (Loss), Pension and Other Postretirement Benefit Plans, Adjustment, Net of Tax	3,564	3,753	7,250	7,465
Interest Rate Swap [Member]
Interest Rate Cash Flow Hedge Gain (Loss) Reclassified to Earnings, Net	158	505	435	849
Cross Currency Swap [Member]
Interest Rate Cash Flow Hedge Gain (Loss) Reclassified to Earnings, Net	4,098	$ 1,412	387	$ 1,412
Foreign Currency Transaction Gain (Loss), Unrealized	4,800		1,800
Interest Income, Other	$ 700		$ 1,400

Other Comprehensive Income De46

Other Comprehensive Income Details 3 (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017	Dec. 31, 2017
Net earnings	$ 111,468	$ 101,580	$ 204,772	$ 194,046	$ 375,972
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent	(29,205)	32,734	(315)	56,612	$ 89,592
Comprehensive Income, Net of Tax (Note 9)	$ 82,263	$ 134,314	$ 204,457	$ 250,658

Earnings Per Common Share (Deta

Earnings Per Common Share (Details) - shares	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Incremental Weighted Average Shares Attributable to Dilutive Effect [Abstract]
Weighted Average Number of Shares Outstanding, Diluted, Total	567,969	688,155	596,106	673,068
Antidilutive Shares Outstanding
Weighted Average Number of Shares Outstanding, Antidilutive, Total	56,419	0	56,380	75,182

Net Periodic Benefit Cost (Deta

Net Periodic Benefit Cost (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Defined Benefit Plan Disclosure [Line Items]
Service cost, net	$ 4,016	$ 4,093	$ 8,208	$ 8,258
Interest cost on projected benefit obligations	3,208	3,165	6,508	6,346
Expected return on plan assets	(9,420)	(9,313)	(19,139)	(18,382)
Recognition of prior service cost	(1,820)	(1,169)	(3,707)	(3,187)
Recognition of actuarial losses/(gains)	6,507	6,223	13,205	13,280
Net periodic pension cost/(credit)	2,491	2,999	5,075	6,315
Pension Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Service cost, net	272	141	544	282
Interest cost on projected benefit obligations	1,061	1,094	2,122	2,188
Expected return on plan assets	(1,732)	(1,684)	(3,464)	(3,368)
Recognition of prior service cost	0	0	0	0
Recognition of actuarial losses/(gains)	1,451	1,639	2,902	3,278
Net periodic pension cost/(credit)	1,052	1,190	2,104	2,380
Other Pension Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Service cost, net	3,744	3,952	7,664	7,976
Interest cost on projected benefit obligations	2,131	2,053	4,354	4,122
Expected return on plan assets	(7,688)	(7,629)	(15,675)	(15,014)
Recognition of prior service cost	(1,727)	(974)	(3,521)	(2,797)
Recognition of actuarial losses/(gains)	5,369	5,058	10,929	10,950
Net periodic pension cost/(credit)	1,829	2,460	$ 3,751	5,237
Defined Benefit Plan, Expected Future Employer Contributions, Current Fiscal Year, Description			25,900
Other Postretirement Benefits Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Service cost, net	0	0	$ 0	0
Interest cost on projected benefit obligations	16	18	32	36
Expected return on plan assets	0	0	0	0
Recognition of prior service cost	(93)	(195)	(186)	(390)
Recognition of actuarial losses/(gains)	(313)	(474)	(626)	(948)
Net periodic pension cost/(credit)	$ (390)	$ (651)	$ (780)	$ (1,302)

Restructuring Charges (Details)

Restructuring Charges (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Company's accrual for restructuring activities:-
Beginning Restructuring Accrual Balance, as of December 31, 2016			$ 10,620
Restructuring Charges	$ 7,321	$ 4,023	11,734	$ 5,455
Restructuring Cash Payments			(13,409)
Impact of foreign currency on restructuring reserve			(130)
Ending Restructuring Accrual Balance, as of June 30, 2017	$ 8,815		$ 8,815

Restructuring Charges Restructu

Restructuring Charges Restructuring Charges (textuals) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Restructuring Charges [Abstract]
Restructuring Charges	$ 7,321	$ 4,023	$ 11,734	$ 5,455

Other Charges , Net Other Charg

Other Charges , Net Other Charges, Net (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Other Income and Expenses [Abstract]
Impact of Adopting ASU 2017-07 ASC 715 Compensation Retirement Benefit	$ (1,500)	$ (1,100)	$ (3,100)	$ (1,900)
Gain (Loss) on Disposition of Property Plant Equipment			$ 0	$ 3,394

Segment Reporting (Details)

Segment Reporting (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017	Dec. 31, 2017
Operations of the Company's operating segments
Net Sales to External Customers	$ 721,996	$ 653,656	$ 1,382,817	$ 1,248,223
Revenue Transactions With Other Operating Segments	0	0	0	0
Net Sales	721,996	653,656	1,382,817	1,248,223
Segment Profit	169,286	147,406	308,832	273,939
Goodwill	536,407	483,757	536,407	483,757	$ 539,838
US Operations [Member]
Operations of the Company's operating segments
Net Sales to External Customers	251,474	238,831	481,219	454,184
Revenue Transactions With Other Operating Segments	23,487	23,092	47,153	45,505
Net Sales	274,961	261,923	528,372	499,689
Segment profit	42,006	45,147	76,251	83,969
Goodwill	409,470	357,782	409,470	357,782
Swiss Operations [Member]
Operations of the Company's operating segments
Net Sales to External Customers	32,154	32,287	64,619	62,034
Revenue Transactions With Other Operating Segments	148,959	131,347	292,541	258,899
Net Sales	181,113	163,634	357,160	320,933
Segment profit	47,737	37,950	93,712	73,968
Goodwill	21,787	22,544	21,787	22,544
Western European Operations [Member]
Operations of the Company's operating segments
Net Sales to External Customers	173,772	151,161	339,144	298,484
Revenue Transactions With Other Operating Segments	45,141	43,883	86,153	86,825
Net Sales	218,913	195,044	425,297	385,309
Segment profit	27,333	24,709	45,615	49,427
Goodwill	89,412	87,388	89,412	87,388
Chinese Operations [Member]
Operations of the Company's operating segments
Net Sales to External Customers	133,272	108,092	247,202	198,873
Revenue Transactions With Other Operating Segments	58,588	57,036	118,995	109,969
Net Sales	191,860	165,128	366,197	308,842
Segment profit	65,884	54,127	125,437	98,787
Goodwill	678	653	678	653
Other Operations [Member]
Operations of the Company's operating segments
Net Sales to External Customers	131,324	123,285	250,633	234,648
Revenue Transactions With Other Operating Segments	1,463	2,129	3,103	3,726
Net Sales	132,787	125,414	253,736	238,374
Segment profit	17,642	15,181	31,523	28,289
Goodwill	15,060	15,390	15,060	15,390
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	(277,638)	(257,487)	(547,945)	(504,924)
Net Sales	(277,638)	(257,487)	(547,945)	(504,924)
Segment profit	(31,316)	(29,708)	(63,706)	(60,501)
Goodwill	$ 0	$ 0	$ 0	$ 0

Segment Reporting (Details 1)

Segment Reporting (Details 1) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Reconciliation of earnings before taxes to segment profit
Earnings before taxes	$ 143,602	$ 126,847	$ 261,041	$ 240,695
Amortization	11,970	10,249	23,705	20,294
Interest expense	8,309	8,171	16,668	15,912
Restructuring Charges	7,321	4,023	11,734	5,455
Other charges (income), net	(1,916)	(1,884)	(4,316)	(8,417)
Segment Profit Information	$ 169,286	$ 147,406	$ 308,832	$ 273,939

Segment Reporting (Details Text

Segment Reporting (Details Textuals) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Segment Reporting (Textuals) [Abstract]
Restructuring Charges	$ 7,321	$ 4,023	$ 11,734	$ 5,455
US Operations [Member]
Segment Reporting (Textuals) [Abstract]
Restructuring Charges	6,400	2,200	10,000	3,000
Swiss Operations [Member]
Segment Reporting (Textuals) [Abstract]
Restructuring Charges	300	500	700	900
Western European Operations [Member]
Segment Reporting (Textuals) [Abstract]
Restructuring Charges	500	700	900	700
Chinese Operations [Member]
Segment Reporting (Textuals) [Abstract]
Restructuring Charges				100
Other Operations [Member]
Segment Reporting (Textuals) [Abstract]
Restructuring Charges	$ 100	$ 600	$ 100	$ 800