Mettler-Toledo International (MTD) 10-Q 7 May 21 2021 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information	3 Months Ended
	Mar. 31, 2021shares
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2021
Document Transition Report	false
Entity File Number	1-13595
Entity Registrant Name	Mettler Toledo International Inc
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	13-3668641
Entity Address, Address Line One	1900 Polaris Parkway
Entity Address, City or Town	Columbus
Entity Address, State or Province	OH
Entity Address, Postal Zip Code	43240
City Area Code	614
Local Phone Number	438-4511
Title of 12(b) Security	Common Stock, $0.01 par value
Trading Symbol	MTD
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding	23,269,421
Entity Central Index Key	0001037646
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q1
Current Fiscal Year End Date	--12-31
Amendment Flag	false

Interim Consolidated Statements

Interim Consolidated Statements of Operations (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Revenues	$ 804,390	$ 649,162
Gross profit	471,696	374,409
Research and development	39,272	34,387
Selling, general and administrative	221,752	198,744
Amortization	13,884	13,998
Interest Expense	9,471	10,219
Restructuring Charges	1,193	1,905
Other charges (income), net	710	(3,343)
Earnings before taxes	185,414	118,499
Provision for taxes	35,751	20,384
Net Income (Loss) Attributable to Parent	$ 149,663	$ 98,115
Basic earnings per common share:
Net earnings	$ 6.41	$ 4.08
Weighted average number of common shares	23,365,077	24,027,833
Diluted earnings per common share:
Net earnings	$ 6.32	$ 4.03
Weighted average number of common and common equivalent shares	23,685,665	24,353,477
Comprehensive Income (Loss), Net of Tax, Attributable to Parent	$ 172,844	$ 74,087
Product [Member]
Cost of Goods and Services Sold	245,270	191,623
Revenues	626,915	489,334
Service [Member]
Cost of Goods and Services Sold	87,424	83,130
Revenues	$ 177,475	$ 159,828

Interim Consolidated Balance Sh

Interim Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Current assets:
Cash and cash equivalents	$ 106,654	$ 94,254
Trade accounts receivable, less allowances of $16,571 at March 31, 2019 and $15,469 at December 31, 2018	574,418	593,809
Inventories	321,341	297,611
Other current assets and prepaid expenses	77,795	71,230
Total current assets	1,080,208	1,056,904
Property, plant and equipment, net	780,166	798,868
Goodwill	640,687	550,270
Other intangible assets, net	298,645	196,785
Deferred Income Tax Assets, Net	39,240	41,836
Other non-current assets	189,422	169,886
Total assets	3,028,368	2,814,549
Current liabilities:
Trade accounts payable	189,289	175,801
Accrued and other liabilities	195,123	196,834
Accrued compensation and related items	124,966	179,252
Deferred revenue and customer prepayments	180,330	149,106
Taxes payable	99,596	89,017
Short-term borrowings and current maturities of long-term debt	52,505	50,317
Total current liabilities	841,809	840,327
Long-term debt	1,561,054	1,284,174
Non-current deferred tax liabilities	34,697	34,448
Other non-current liabilities	388,165	372,925
Total liabilities	2,825,725	2,531,874
Commitments and Contingencies
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 24,803,286 and 24,921,963 shares at March 31, 2019 and December 31, 2018, respectively	448	448
Additional paid-in capital	810,954	805,140
Treasury stock at cost (19,982,725 shares at March 31, 2019 and 19,864,048 shares at December 31, 2018)	(5,541,402)	(5,283,584)
Retained earnings	5,244,387	5,095,596
Accumulated Other Comprehensive Income (Loss), Net of Tax	(311,744)	(334,925)
Total shareholders' equity	202,643	282,675
Total liabilities and shareholders' equity	$ 3,028,368	$ 2,814,549

Interim Consolidated Balance _2

Interim Consolidated Balance Sheets (Unaudited) (Parenthetical) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Current assets:
Accounts Receivable, Allowance for Credit Loss, Current	$ 16,497	$ 17,009
Shareholders' equity:
Preferred stock, par value	$ 0.01	$ 0.01
Preferred Stock, Shares Authorized	10,000,000	10,000,000
Common stock, par value	$ 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	23,907,528	24,125,317
Treasury stock, shares	20,878,483	20,660,694

Interim Consolidated Statemen_2

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, 2019	$ 420,780	$ 448	$ 783,871	$ (4,539,154)	$ 4,499,288	$ (323,673)
Beginning balance, shares at Dec. 31, 2019		24,125,317
Exercise of stock options and restricted stock units, shares	50,372	50,372
Share based compensation, exercise value	$ 7,135		0	9,355	2,220	0
Repurchases of common stock	$ (200,000)			(200,000)
Repurchases of common stock, shares	(268,161)	(268,161)
Adjustment to Additional Paid in Capital, Share-Based Compensation	$ 4,395		4,395
Net Income (Loss) Attributable to Parent	98,115				98,115
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent	(24,028)					(24,028)
Ending balance at Mar. 31, 2020	306,397	$ 448	788,266	(4,729,799)	4,595,183	(347,701)
Ending balance, shares at Mar. 31, 2020		23,907,528
Beginning balance at Dec. 31, 2020	$ 282,675	$ 448	805,140	(5,283,584)	5,095,596	(334,925)
Beginning balance, shares at Dec. 31, 2020	24,125,317	23,471,841
Exercise of stock options and restricted stock units, shares	22,388	22,388
Share based compensation, exercise value	$ 5,049		1,239	4,682	872	0
Repurchases of common stock	$ (262,500)			$ (262,500)
Repurchases of common stock, shares	(224,808)	(224,808)
Adjustment to Additional Paid in Capital, Share-Based Compensation	$ 4,575		$ 4,575
Net Income (Loss) Attributable to Parent	149,663				$ 149,663
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent	23,181					$ 23,181
Ending balance at Mar. 31, 2021	$ 202,643
Ending balance, shares at Mar. 31, 2021	23,907,528	23,269,421

Interim Consolidated Statemen_3

Interim Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Cash flows from operating activities:
Net Income (Loss) Attributable to Parent	$ 149,663	$ 98,115
Adjustments to reconcile net earnings to net cash provided by operating activities:
Depreciation	10,943	10,133
Amortization	13,884	13,998
Deferred tax benefit	(5,068)	(3,718)
Share-based compensation	4,575	4,395
Increase (decrease) in cash resulting from changes in:
Trade accounts receivable, net	12,232	39,906
Inventories	(28,029)	(20,674)
Other current assets	(4,175)	(4,211)
Trade accounts payable	15,543	(15,050)
Taxes payable	15,411	(15,096)
Other Operating Activities, Cash Flow Statement	(26,102)	(42,283)
Net cash provided by operating activities	158,877	65,515
Cash flows from investing activities:
Purchase of property, plant and equipment	(24,605)	(18,835)
Payments to Acquire Businesses, Net of Cash Acquired	(185,074)	(5,610)
Payments for (Proceeds from) Derivative Instrument, Investing Activities	18,226	(10,008)
Net cash used in investing activities	(191,453)	(34,453)
Cash flows from financing activities:
Proceeds from borrowings	827,991	832,268
Repayments of borrowings	(523,146)	(551,319)
Proceeds from stock option exercises	5,049	7,135
Repurchases of common stock	(262,500)	(200,000)
Proceeds from (Payments for) Other Financing Activities	(714)	(800)
Net cash used in financing activities	46,680	87,284
Effect of exchange rate changes on cash and cash equivalents	(1,704)	(2,546)
Net (decrease) increase in cash and cash equivalents	12,400	115,800
Cash and cash equivalents:
Beginning of period	94,254	207,785
End of period	$ 106,654	$ 323,585

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income (Notes)	3 Months Ended
	Mar. 31, 2021
Accumulated Other Comprehensive Income [Abstract]
Comprehensive Income (Loss) Note [Text Block]	ACCUMULATED COMPREHENSIVE AND OTHER COMPREHENSIVE INCOME Comprehensive income (loss), net of tax consisted of the following: March 31, March 31, 2020 Net earnings $ 149,663 $ 98,115 Other comprehensive income (loss), net of tax 23,181 $ (24,028) Comprehensive income, net of tax $ 172,844 $ 74,087 The following table presents changes in accumulated other comprehensive income (loss) by component for the periods ended March 31, 2021 and 2020: Currency Translation Adjustment Net Unrealized Pension and Post-Retirement Benefit Related Items, Total Balance at December 31, 2020 $ (31,101) $ (1,479) $ (302,345) $ (334,925) Other comprehensive income (loss), net of tax: Unrealized gains (losses) cash flow hedging arrangements — 8,274 — 8,274 Foreign currency translation adjustment 3,234 — 13,988 17,222 Amounts recognized from accumulated other comprehensive income (loss), net of tax — (7,467) 5,152 (2,315) Net change in other comprehensive income (loss), net of tax 3,234 807 19,140 23,181 Balance at March 31, 2021 $ (27,867) $ (672) $ (283,205) $ (311,744) Currency Translation Adjustment Net Unrealized Pension and Post-Retirement Benefit Related Items, Total Balance at December 31, 2019 $ (61,015) $ (1,222) $ (261,436) $ (323,673) Other comprehensive income (loss), net of tax: Unrealized gains (losses) cash flow hedging arrangements — (1,704) — (1,704) Foreign currency translation adjustment (22,450) — (5,025) (27,475) Amounts recognized from accumulated other comprehensive income (loss), net of tax — 1,648 3,503 5,151 Net change in other comprehensive income (loss), net of tax (22,450) (56) (1,522) (24,028) Balance at March 31, 2020 $ (83,465) $ (1,278) $ (262,958) $ (347,701) The following table presents amounts recognized from accumulated other comprehensive income (loss) for the three months ended March 31: 2021 2020 Location of Amounts Recognized in Earnings Effective portion of (gains) losses on cash flow hedging arrangements: Interest rate swap agreements $ 531 $ 249 Interest expense Cross currency swap (9,708) 1,586 (a) Total before taxes (9,177) 1,835 Provision for taxes (1,710) 187 Provision for taxes Total, net of taxes $ (7,467) $ 1,648 Recognition of defined benefit pension and post-retirement items: Recognition of actuarial (gains) losses, plan amendments and prior service cost, before taxes $ 6,529 $ 4,493 (b) Provision for taxes 1,377 990 Provision for taxes Total, net of taxes $ 5,152 $ 3,503 (a) The cross currency swap reflects an unrealized gain of $9.3 million recorded in other charges (income) that was offset by the underlying unrealized gain the hedged debt for the three months ended March 31, 2021. The cross currency swap also reflects a realized gain of $0.4 million recorded in interest expense for the three months ended March 31, 2021. (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 three months ended March 31, 2021 and 2020.

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Income (Tables)	3 Months Ended
	Mar. 31, 2021
Accumulated Other Comprehensive Income [Abstract]
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block]	The following table presents changes in accumulated other comprehensive income (loss) by component for the periods ended March 31, 2021 and 2020: Currency Translation Adjustment Net Unrealized Pension and Post-Retirement Benefit Related Items, Total Balance at December 31, 2020 $ (31,101) $ (1,479) $ (302,345) $ (334,925) Other comprehensive income (loss), net of tax: Unrealized gains (losses) cash flow hedging arrangements — 8,274 — 8,274 Foreign currency translation adjustment 3,234 — 13,988 17,222 Amounts recognized from accumulated other comprehensive income (loss), net of tax — (7,467) 5,152 (2,315) Net change in other comprehensive income (loss), net of tax 3,234 807 19,140 23,181 Balance at March 31, 2021 $ (27,867) $ (672) $ (283,205) $ (311,744) Currency Translation Adjustment Net Unrealized Pension and Post-Retirement Benefit Related Items, Total Balance at December 31, 2019 $ (61,015) $ (1,222) $ (261,436) $ (323,673) Other comprehensive income (loss), net of tax: Unrealized gains (losses) cash flow hedging arrangements — (1,704) — (1,704) Foreign currency translation adjustment (22,450) — (5,025) (27,475) Amounts recognized from accumulated other comprehensive income (loss), net of tax — 1,648 3,503 5,151 Net change in other comprehensive income (loss), net of tax (22,450) (56) (1,522) (24,028) Balance at March 31, 2020 $ (83,465) $ (1,278) $ (262,958) $ (347,701)
Disclosure of Reclassification Amount [Text Block]	The following table presents amounts recognized from accumulated other comprehensive income (loss) for the three months ended March 31: 2021 2020 Location of Amounts Recognized in Earnings Effective portion of (gains) losses on cash flow hedging arrangements: Interest rate swap agreements $ 531 $ 249 Interest expense Cross currency swap (9,708) 1,586 (a) Total before taxes (9,177) 1,835 Provision for taxes (1,710) 187 Provision for taxes Total, net of taxes $ (7,467) $ 1,648 Recognition of defined benefit pension and post-retirement items: Recognition of actuarial (gains) losses, plan amendments and prior service cost, before taxes $ 6,529 $ 4,493 (b) Provision for taxes 1,377 990 Provision for taxes Total, net of taxes $ 5,152 $ 3,503
Schedule of Comprehensive Income (Loss) [Table Text Block]	ACCUMULATED COMPREHENSIVE AND OTHER COMPREHENSIVE INCOME Comprehensive income (loss), net of tax consisted of the following: March 31, March 31, 2020 Net earnings $ 149,663 $ 98,115 Other comprehensive income (loss), net of tax 23,181 $ (24,028) Comprehensive income, net of tax $ 172,844 $ 74,087 The following table presents changes in accumulated other comprehensive income (loss) by component for the periods ended March 31, 2021 and 2020: Currency Translation Adjustment Net Unrealized Pension and Post-Retirement Benefit Related Items, Total Balance at December 31, 2020 $ (31,101) $ (1,479) $ (302,345) $ (334,925) Other comprehensive income (loss), net of tax: Unrealized gains (losses) cash flow hedging arrangements — 8,274 — 8,274 Foreign currency translation adjustment 3,234 — 13,988 17,222 Amounts recognized from accumulated other comprehensive income (loss), net of tax — (7,467) 5,152 (2,315) Net change in other comprehensive income (loss), net of tax 3,234 807 19,140 23,181 Balance at March 31, 2021 $ (27,867) $ (672) $ (283,205) $ (311,744) Currency Translation Adjustment Net Unrealized Pension and Post-Retirement Benefit Related Items, Total Balance at December 31, 2019 $ (61,015) $ (1,222) $ (261,436) $ (323,673) Other comprehensive income (loss), net of tax: Unrealized gains (losses) cash flow hedging arrangements — (1,704) — (1,704) Foreign currency translation adjustment (22,450) — (5,025) (27,475) Amounts recognized from accumulated other comprehensive income (loss), net of tax — 1,648 3,503 5,151 Net change in other comprehensive income (loss), net of tax (22,450) (56) (1,522) (24,028) Balance at March 31, 2020 $ (83,465) $ (1,278) $ (262,958) $ (347,701) The following table presents amounts recognized from accumulated other comprehensive income (loss) for the three months ended March 31: 2021 2020 Location of Amounts Recognized in Earnings Effective portion of (gains) losses on cash flow hedging arrangements: Interest rate swap agreements $ 531 $ 249 Interest expense Cross currency swap (9,708) 1,586 (a) Total before taxes (9,177) 1,835 Provision for taxes (1,710) 187 Provision for taxes Total, net of taxes $ (7,467) $ 1,648 Recognition of defined benefit pension and post-retirement items: Recognition of actuarial (gains) losses, plan amendments and prior service cost, before taxes $ 6,529 $ 4,493 (b) Provision for taxes 1,377 990 Provision for taxes Total, net of taxes $ 5,152 $ 3,503 (a) The cross currency swap reflects an unrealized gain of $9.3 million recorded in other charges (income) that was offset by the underlying unrealized gain the hedged debt for the three months ended March 31, 2021. The cross currency swap also reflects a realized gain of $0.4 million recorded in interest expense for the three months ended March 31, 2021. (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 three months ended March 31, 2021 and 2020.

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Income (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2021	Dec. 31, 2020	Mar. 31, 2020	Dec. 31, 2019
Accumulated Other Comprehensive Income (Loss), Net of Tax	$ (311,744)	$ (334,925)	$ (347,701)	$ (323,673)
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax	8,274	(1,704)
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment, Net of Tax	17,222	(27,475)
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax	(2,315)	5,151
Other Comprehensive Income (Loss), Net of Tax	23,181	(24,028)
Accumulated Translation Adjustment [Member]
Accumulated Other Comprehensive Income (Loss), Net of Tax	(27,867)	(31,101)	(83,465)	(61,015)
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax	0	0
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment, Net of Tax	3,234	(22,450)
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax	0	0
Other Comprehensive Income (Loss), Net of Tax	3,234	(22,450)
Accumulated Net Gain (Loss) from Designated or Qualifying Cash Flow Hedges [Member]
Accumulated Other Comprehensive Income (Loss), Net of Tax	(672)	(1,479)	(1,278)	(1,222)
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax	8,274	(1,704)
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	(7,467)	1,648
Other Comprehensive Income (Loss), Net of Tax	807	(56)
Accumulated Defined Benefit Plans Adjustment [Member]
Accumulated Other Comprehensive Income (Loss), Net of Tax	(283,205)	(302,345)	$ (262,958)	$ (261,436)
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax	0	0
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment, Net of Tax	13,988	(5,025)
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax	5,152	3,503
Other Comprehensive Income (Loss), Net of Tax	$ 19,140	$ (1,522)

Accumulated Other Comprehensi_4

Accumulated Other Comprehensive Income Details 1 (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2021	Dec. 31, 2020
Accumulated Other Comprehensive Income [Abstract]
Cross Currency Swap interest portion recognized in income	$ 400
Interest Rate Cash Flow Hedge Gain (Loss) Reclassified to Earnings, Net	531	$ 249
Foreign Currency Cash Flow Hedge Gain (Loss) Reclassified to Earnings, Net	(9,708)	1,586
Derivative Instruments, Gain (Loss) Reclassified from Accumulated OCI into Income, Effective Portion, Net	(9,177)	1,835
Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Derivatives Arising During Period, Tax	(1,710)	187
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI on Derivatives, Net of Tax	(7,467)	1,648
Other Comprehensive (Income) Loss, Defined Benefit Plan, before Tax, after Reclassification Adjustment, Attributable to Parent	6,529	4,493
Other Comprehensive (Income) Loss, Defined Benefit Plan, after Reclassification Adjustment, Tax, Attributable to Parent	1,377	990
Income Tax Expense (Benefit)	35,751
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax	(2,315)	5,151
Other Comprehensive (Income) Loss, Defined Benefit Plan, after Reclassification Adjustment, after Tax	5,152	$ 3,503
Cross Currency Swap Revaluation Portion Recognized in Earnings	$ 9,300

Accumulated Other Comprehensi_5

Accumulated Other Comprehensive Income Details 2 (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Net Income (Loss) Attributable to Parent	$ 149,663	$ 98,115
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent	23,181	(24,028)
Comprehensive Income (Loss), Net of Tax, Attributable to Parent	$ 172,844	$ 74,087

Basis of Presentation

Basis of Presentation	3 Months Ended
	Mar. 31, 2021
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 rela ted analytical inst ruments and provides automated chemistry solutions used in drug and chemical compound disco very 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, 2020. 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 months ended March 31, 2021 are not necessarily indicative of the results to be expected for the full year ending December 31, 2021. 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. These financial statements were prepared using information reasonably available as of March 31, 2021 and through the date of this Report. Actual results may differ from those estimates due to uncertainty relating to the COVID-19 pandemic, as well as other factors.

Summary of Significant Accounti

Summary of Significant Accounting Policies	3 Months Ended
	Mar. 31, 2021
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 expected credit losses represents the Company's best estimate based on historical information, current information, and reasonable and supportable forecasts of future events and circumstances. 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: March 31, December 31, Raw materials and parts $ 134,636 $ 132,041 Work-in-progress 59,681 55,688 Finished goods 127,024 109,882 $ 321,341 $ 297,611 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 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 to be benefited. 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 “Intangibles – Goodwill and Other” and ASC 360 “Property, Plant and Equipment.” Other intangible assets consisted of the following : March 31, 2021 December 31, 2020 Gross Accumulated Intangibles, Net Gross Accumulated Intangibles, Net Customer relationships $ 279,600 $ (70,393) $ 209,207 $ 201,445 $ (68,319) $ 133,126 Proven technology and patents 98,175 (51,945) 46,230 78,312 (52,138) 26,174 Trade name (finite life) 8,164 (3,415) 4,749 4,896 (3,444) 1,452 Trade name (indefinite life) 35,539 — 35,539 35,595 — 35,595 Other 8,056 (5,136) 2,920 5,215 (4,777) 438 $ 429,534 $ (130,889) $ 298,645 $ 325,463 $ (128,678) $ 196,785 The Company recognized amortization expense associated with the above intangible assets of $4.1 million and $3.9 million for the three months ended March 31, 2021 and 2020, respectively. The annual aggregate amortization expense based on the current balance of other intangible assets is estimated at $21.6 million for 2021, $21.1 million for 2022, $20.3 million for 2023, $19.8 million for 2024, $18.8 million for 2025 and $16.6 million for 2026. Purchased intangible amortization was $3.8 million, $2.9 million after tax, and $3.7 million, $2.8 million after tax, for the three months ended March 31, 2021 and 2020, respectively. In addition to the above amortization, the Company recorded amortization expense associated with capitalized software of $9.8 million and $10.0 million for the three months ended March 31, 2021 and 2020, 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 based upon shipping terms. To the extent the Company’s arrangements 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 related provisions for estimated returns and rebates are immaterial to the consolidated financial statements. Certain of the Company’s product 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 stand-alone 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 generally 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. 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 comprehensive income with a corresponding offset to additional paid-in capital in the consolidated balance sheet. The Company recorded $4.6 million and $4.4 million of share-based compensation expense for the three months ended March 31, 2021 and 2020, respectively. On May 6, 2021, the Company's shareholders approved the adoption of the Company's 2013 Equity Incentive Plan (Amended and Restated), and with the effect that approximately 0.9 million additional shares of common stock will be added to the approximately 2.1 million shares that remained available under the plan prior to its amendment. In addition, shares subject to options granted under the Company's prior equity incentive plan that terminate without being exercised, will also be available for awards under the amended plan. The amended plan expires in 2031. Research and Development Research and development costs primarily consist of salaries, consulting and other costs. The Company expenses these costs as incurred. Business Combinations and Asset Acquisitions The Company accounts for business acquisitions under the accounting standards for business combinations utilizing the acquisition method of accounting. The results of each acquisition are included in the Company's consolidated results as of the acquisition date. The purchase price of an acquisition is allocated to tangible and intangible assets and assumed liabilities based on their estimated fair values and any consideration in excess of the net assets acquired is recognized as goodwill. The determination of the values of the acquired assets and assumed liabilities, including goodwill and intangible assets, require significant judgement. Acquisition transaction costs are expensed when incurred. In circumstances where an acquisition involves a contingent consideration arrangement, the Company recognizes a liability equal to the fair value of the expected contingent payments as of the acquisition date. Subsequent changes in the fair value of the contingent consideration are recorded to other charges (income), net. Recent Accounting Pronouncements In March 2020, the FASB issued ASU 2020-04: Reference Rate Reform which provides optional expedients and exceptions for applying GAAP to contracts, hedging relationships, and other transactions affected by the discontinuance of LIBOR or another referenced rate. The guidance may be be applied to any applicable contract entered into before December 31, 2022. The Company is currently evaluating the impact of this guidance on the consolidated financial statements.

Revenue Recognition (Notes)

Revenue Recognition (Notes)	3 Months Ended
	Mar. 31, 2021
Revenue from Contract with Customer [Abstract]
Revenue from Contract with Customer [Text Block]	REVENUE 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: Three months ended March 31, 2021 U.S. Operations Swiss Operations Western European Operations Chinese Operations Other Operations Total Product Revenue $ 205,191 $ 30,167 $ 136,899 $ 143,325 $ 111,333 $ 626,915 Service Revenue: Point in time 51,591 6,891 35,630 9,342 27,877 131,331 Over time 15,177 2,223 19,821 3,407 5,516 46,144 Total $ 271,959 $ 39,281 $ 192,350 $ 156,074 $ 144,726 $ 804,390 Three months ended March 31, 2020 U.S. Operations Swiss Operations Western European Operations Chinese Operations Other Operations Total Product Revenue $ 177,436 $ 24,276 $ 105,877 $ 90,321 $ 91,424 $ 489,334 Service Revenue: Point in time 50,234 5,557 31,391 7,106 25,676 119,964 Over time 13,739 2,064 16,057 3,172 4,832 39,864 Total $ 241,409 $ 31,897 $ 153,325 $ 100,599 $ 121,932 $ 649,162 A breakdown of net sales to external customers by geographic customer destination for the three months ended March 31 follows: 2021 2020 Americas $ 303,339 $ 264,824 Europe 241,377 194,828 Asia / Rest of World 259,674 189,510 Total $ 804,390 $ 649,162 The Company's global revenue mix by product category is laboratory (55% of sales), industrial (39% of sales) and retail (6% 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 breakdown of the Company’s sales by product category for the three months ended March 31 follows: 2021 2020 Laboratory $ 444,627 $ 357,091 Industrial 310,777 252,355 Retail 48,986 39,716 Total $ 804,390 $ 649,162 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 not yet billed to the customer. Unbilled revenue as of March 31, 2021 and December 31, 2020 was $30.9 million and $22.6 million, respectively, 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 periods ended March 31, 2021 and 2020 are as follows: 2021 2020 Beginning balances as of January 1 $ 149,106 $ 122,489 Customer pre-payments/deferred revenue 162,765 145,168 Revenue recognized (127,985) (120,291) Foreign currency translation (3,556) (2,530) Ending balance as of March 31 $ 180,330 $ 144,836 The Company generally expenses sales commissions when incurred because the contract 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 pre-payments 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	3 Months Ended
	Mar. 31, 2021
Derivative [Line Items]
FINANCIAL INSTRUMENTS	FINANCIAL INSTRUMENTSThe 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. For additional disclosures on derivative instruments regarding balance sheet location, fair value, and the amounts reclassified into other comprehensive income and the effective portions of the cash flow hedges, also see Notes 6 and 10 to the interim consolidated financial statements. As also mentioned in Note 8, the Company has designated its euro-denominated debt as a hedge of a portion of its net investment in euro-denominated foreign subsidiary. Cash Flow Hedges In June 2019, the Company entered into a cross currency swap arrangement designated as a cash flow hedge. The agreement converts $50 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 payments, excluding the credit spread, to a fixed Swiss franc income of 0.82%. The swap began in June 2019 and matures in June 2023. In June 2019, the Company entered into a cross currency swap arrangement designated as a cash flow hedge. The agreement converts $50 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 payments, excluding the credit spread, to a fixed Swiss franc income of 0.95%. The swap began in June 2019 and matures in June 2021. In February 2019, the Company entered into a cross currency swap arrangement designated as a cash flow hedge. The agreement converts $50 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 payments, excluding the credit spread to a fixed Swiss franc income of 0.78%. The swap began in February 2019 and matures in June 2021. In 2015, the Company entered into 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 $100 million in borrowings under the Company's credit agreement to a fixed obligation of 2.25%. The swap began 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 March 31, 2021 and December 31, 2020, respectively. A derivative loss of $0.9 million based upon interest rates at March 31, 2021, is expected to be reclassified from other comprehensive income (loss) to earnings in the next twelve months. The cash flow hedges remain effective as of March 31, 2021. Other Derivatives

Fair Value Measurements

Fair Value Measurements	3 Months Ended
	Mar. 31, 2021
Fair Value Disclosures [Abstract]
FAIR VALUE MEASUREMENTS	FAIR VALUE MEASUREMENTSAt March 31, 2021 and December 31, 2020, the Company had derivative assets totaling $2.8 million and $2.2 million, respectively, and derivative liabilities totaling $12.4 million and $23.3 million, respectively. The Company has limited involvement with derivative financial instruments and therefore does not present all the required disclosures in tabular format. The fair values of the interest rate swap agreements, the cross currency swap agreements, and the 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 March 31, 2021 and December 31, 2020. The estimated fair value of the contingent consideration obligation of $13.5 million relating to the PendoTECH acquisition was determined using a Monte Carlo simulation based on the Company's forecast of future financial 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 the Company’s assets and liabilities, which are all categorized as Level 2 and are measured at fair value on a recurring basis at March 31, 2021 and December 31, 2020. The Company does not have any assets or liabil ities which are categorized as Level 1 or Level 3, with the exception of the PendoTECH contingent consideration described above. March 31, 2021 December 31, 2020 Balance Sheet Location Foreign currency forward contracts not designated as hedging instruments $ 2,849 $ 2,227 Other current assets and prepaid expenses Total derivative assets $ 2,849 $ 2,227 Foreign currency forward contracts not designated as hedging instruments $ 1,799 $ 1,399 Accrued and other liabilities Cash Flow Hedges: Interest rate swap agreements $ 1,964 $ — Accrued and other liabilities Cross currency swap agreement $ 5,983 $ 13,093 Accrued and other liabilities Interest rate swap agreements — 2,502 Other non-current liabilities Cross currency swap agreement 2,681 6,297 Other non-current liabilities Total derivative liabilities $ 12,427 $ 23,291 The Company had $18.0 million and $14.3 million of cash equivalents at March 31, 2021 and December 31, 2020, respectively, the fair value of which is determined using Level 2 inputs, through quoted and corroborated prices in active markets. The fair value of cash equivalents approximates cost.

Income Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2021
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXESThe Company's reported tax rate was 19.3% and 17.2% during the three months ended March 31, 2021 and 2020, respectively. The provision for taxes is based upon using the Company's projected annual effective tax rate of 19.5% and 21.5% before non-recurring discrete tax items during 2021 and 2020, respectively. The difference between the Company's projected annual effective tax rate and the reported tax rate is related to the timing of excess tax benefits associated with stock option exercises.

Debt

Debt	3 Months Ended
	Mar. 31, 2021
Debt Disclosure [Abstract]
DEBT	DEBT Debt consisted of the following at March 31, 2021: March 31, 2021 U.S. Dollar Other Principal Total 3.67% $50 million ten-year Senior Notes due December 17, 2022 $ 50,000 $ — $ 50,000 4.10% $50 million ten-year Senior Notes due September 19, 2023 50,000 — 50,000 3.84% $125 million ten-year Senior Notes due September 19, 2024 125,000 — 125,000 4.24% $125 million ten-year Senior Notes due June 25, 2025 125,000 — 125,000 3.91% $75 million ten-year Senior Notes due June 25, 2029 75,000 — 75,000 3.19% $50 million fifteen-year Senior Notes due January 24, 2035 50,000 — 50,000 1.47% Euro 125 million fifteen-year Senior Notes due June 17, 2030 — 147,197 147,197 1.30% Euro 135 million fifteen-year Senior Notes due November 6, 2034 — 158,973 158,973 1.06% Euro 125 million fifteen-year Senior Notes due March 19, 2036 — 147,197 147,197 Senior notes debt issuance costs, net (1,073) (1,610) (2,683) Total Senior Notes 473,927 451,757 925,684 $1.1 billion Credit Agreement, interest at LIBOR plus 87.5 basis points 505,605 127,637 633,242 Other local arrangements 2,196 52,437 54,633 Total debt 981,728 631,831 1,613,559 Less: current portion (222) (52,283) (52,505) Total long-term debt $ 981,506 $ 579,548 $ 1,561,054 As of March 31, 2021, the Company had $460.7 million of additional borrowings available under its Credit Agreement, and the Company maintained $106.7 million of cash and cash equivalents. During the three months ended March 31, 2021, the Company increased its long-term debt primarily due to the funding of the PendoTECH acquisition as described in Note 4. In December 2020, the Company entered into an agreement to issue and sell EUR 125.0 million of 15-year 1.06% Euro Senior Notes ("1.06% Euro Senior Notes"). The terms of the Euro Senior Notes are consistent with the previous Euro Senior Notes as described in the Company's Annual Report on Form 10-K for the year ended December 31, 2020. The Company also entered into a forward contract to receive $152.1 million at the time of issuing the 1.06% Euro Senior Notes in March 2021. The Company issued the 1.06% Euro Senior Notes with a fixed interest rate of 1.06% in March 2021. The 1.06% Euro Senior Notes are unsecured obligations of the Company and will mature on March 19, 2036. Interest on the 1.06% Euro Senior Notes is payable semi-annually in March and September of each year. The Company was in compliance with its debt covenants at March 31, 2021. The Company has designated the EUR 125 million 1.47% Euro Senior Notes, the EUR 135 million 1.30% Euro Senior Notes, and the EUR 125 million 1.06% as a hedge of a portion of its net investment in a euro denominated foreign subsidiary to reduce foreign currency risk associated with this net investment. 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 Company recorded in other comprehensive income (loss) related to this net investment hedge an unrealized gain of $17.6 million and $2.0 million for the three months ended March 31, 2021 and 2020, respectively. The Company has a loss of $11.2 million recorded in accumulated other comprehensive income (loss) as of March 31, 2021. Other Local Arrangements In 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. The loans were renewed for one year in April 2021.

Share Repurchase Program and Tr

Share Repurchase Program and Treasury Stock	3 Months Ended
	Mar. 31, 2021
Share Repurchase Program and Treasury Stock [Abstract]
Treasury Stock [Text Block]	SHARE REPURCHASE PROGRAM AND TREASURY STOCK In November 2020, the Company's Board of Directors authorized an additional $2.5 billion to the share repurchase program which has $2.8 billion of remaining availability as of March 31, 2021. The share repurchases are expected to be funded from cash generated from operating activities, borrowings, and cash balances. 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 29.7 million common shares since the inception of the program in 2004 through March 31, 2021. During the three months ended March 31, 2021 and 2020, the Company spent $262.5 million and $200.0 million on the repurchase of 224,808 shares and 268,161 shares at an average price per share of $1,167.64 and $745.80, respectively. The Company reissued 22,388 shares and 50,372 shares held in treasury for the exercise of stock options and restricted stock units during the three months ended March 31, 2021 and 2020, respectively.

Earnings Per Common Share

Earnings Per Common Share	3 Months Ended
	Mar. 31, 2021
Earnings Per Share [Abstract]
EARNINGS PER COMMON SHARE	EARNINGS PER COMMON SHARE In accordance with the treasury stock method, the Company has included 320,588 and 325,644 common equivalent shares in the calculation of diluted weighted average number of common shares outstanding for the three months ended March 31, 2021 and 2020, respectively, relating to outstanding stock options and restricted stock units. Outstanding options and restricted stock units to purchase or receive 20,960 and 88,622 shares of common stock for the three months ended March 31, 2021 and 2020, respectively, 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.

Net Periodic Benefit Cost

Net Periodic Benefit Cost	3 Months Ended
	Mar. 31, 2021
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 March 31: U.S. Pension Benefits Non-U.S. Pension Benefits Other U.S. Post-retirement Benefits Total 2021 2020 2021 2020 2021 2020 2021 2020 Service cost, net $ 374 $ 326 $ 4,945 $ 4,517 $ — $ — $ 5,319 $ 4,843 Interest cost on projected benefit obligations 548 889 850 1,180 2 6 1,400 2,075 Expected return on plan assets (1,494) (1,524) (8,972) (8,085) — — (10,466) (9,609) Recognition of prior service cost — — (471) (1,725) — — (471) (1,725) Recognition of actuarial losses/(gains) 729 644 6,299 5,654 (28) (26) 7,000 6,272 Net periodic pension cost/(credit) $ 157 $ 335 $ 2,651 $ 1,541 $ (26) $ (20) $ 2,782 $ 1,856 As previously disclosed in the Company’s Annual Report on Form 10-K for the year ended December 31, 2020, the Company expects to make employer contributions of approximately $27.9 million to its non-U.S. pension plan and employer contributions of approximately $0.2 million to its U.S. post-retirement medical plan during the year ended December 31, 2021. These estimates 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	3 Months Ended
	Mar. 31, 2021
Restructuring and Related Activities [Abstract]
RESTRUCTURING CHARGES	RESTRUCTURING CHARGES For the three months ending March 31, 2021, the Company incurred $1.2 million of restructuring expenses which primarily comprise employee related costs. Liabilities related to restructuring activities are included in accrued and other liabilities in the consolidated balance sheet. A roll forward of the Company’s accrual for restructuring activities for the three months ended March 31, 2021 is as follows: Total Balance at December 31, 2020 $ 9,184 Restructuring charges 1,193 Cash payments / utilization (4,573) Impact of foreign currency (209) Balance at March 31, 2021 $ 5,595

Other Charges (Income), Net

Other Charges (Income), Net	3 Months Ended
	Mar. 31, 2021
Other Income and Expenses [Abstract]
OTHER CHARGES (INCOME), NET	OTHER CHARGES (INCOME), NETOther charges (income), net includes non-service pension costs (benefits), (gains) losses from foreign currency transactions and related hedging activities, interest income and other items. Non-service pension benefits for the three months ended March 31, 2021 and 2020 were $2.5 million and $3.0 million, respectively.

Segment Reporting

Segment Reporting	3 Months Ended
	Mar. 31, 2021
Segment Reporting [Abstract]
SEGMENT REPORTING	SEGMENT REPORTINGAs disclosed in Note 19 to the Company's consolidated financial statements for the year ended December 31, 2020, 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 reportable segments: Net Sales to Net Sales to For the three months ended External Other Total Net Segment March 31, 2021 Customers Segments Sales Profit Goodwill U.S. Operations $ 271,959 $ 36,784 $ 308,743 $ 63,671 $ 509,600 Swiss Operations 39,281 184,465 223,746 64,879 23,048 Western European Operations 192,350 52,255 244,605 37,866 92,193 Chinese Operations 156,074 69,078 225,152 72,024 683 Other (a) 144,726 1,095 145,821 20,172 15,163 Eliminations and Corporate (b) — (343,677) (343,677) (47,940) — Total $ 804,390 $ — $ 804,390 $ 210,672 $ 640,687 Net Sales to Net Sales to For the three months ended External Other Total Net Segment March 31, 2020 Customers Segments Sales Profit Goodwill U.S. Operations $ 241,409 $ 26,391 $ 267,800 $ 44,938 $ 413,898 Swiss Operations 31,897 152,848 184,745 53,910 22,751 Western European Operations 153,325 41,715 195,040 24,107 85,058 Chinese Operations 100,599 48,749 149,348 45,550 619 Other (a) 121,932 896 122,828 11,026 14,569 Eliminations and Corporate (b) — (270,599) (270,599) (38,253) — Total $ 649,162 $ — $ 649,162 $ 141,278 $ 536,895 (a) Other includes reporting units in Southeast Asia, Latin America, Eastern Europe 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 months ended March 31 follows: Three Months Ended March 31, 2021 March 31, 2020 Earnings before taxes $ 185,414 $ 118,499 Amortization 13,884 13,998 Interest expense 9,471 10,219 Restructuring charges 1,193 1,905 Other charges (income), net 710 (3,343) Segment profit $ 210,672 $ 141,278 During the three months ended March 31, 2021, restructuring charges of $1.2 million were recognized, of which $0.3 million, $0.2 million, $0.5 million, and $0.2 million related to the Company’s U.S., Swiss, Western European and Other operations, respectively. Restructuring charges of $1.9 million

Contingencies

Contingencies	3 Months Ended
	Mar. 31, 2021
Commitments and Contingencies Disclosure [Abstract]
CONTINGENCIES	CONTINGENCIESThe 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 Accoun_2

Summary of Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2021
Accounting Policies [Abstract]
Trade Accounts Receivable	Trade Accounts ReceivableTrade accounts receivable are recorded at the invoiced amount and do not bear interest.
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: March 31, December 31, Raw materials and parts $ 134,636 $ 132,041 Work-in-progress 59,681 55,688 Finished goods 127,024 109,882 $ 321,341 $ 297,611
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 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 to be benefited. 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 “Intangibles – Goodwill and Other” and ASC 360 “Property, Plant and Equipment.” Other intangible assets consisted of the following : March 31, 2021 December 31, 2020 Gross Accumulated Intangibles, Net Gross Accumulated Intangibles, Net Customer relationships $ 279,600 $ (70,393) $ 209,207 $ 201,445 $ (68,319) $ 133,126 Proven technology and patents 98,175 (51,945) 46,230 78,312 (52,138) 26,174 Trade name (finite life) 8,164 (3,415) 4,749 4,896 (3,444) 1,452 Trade name (indefinite life) 35,539 — 35,539 35,595 — 35,595 Other 8,056 (5,136) 2,920 5,215 (4,777) 438 $ 429,534 $ (130,889) $ 298,645 $ 325,463 $ (128,678) $ 196,785 The Company recognized amortization expense associated with the above intangible assets of $4.1 million and $3.9 million for the three months ended March 31, 2021 and 2020, respectively. The annual aggregate amortization expense based on the current balance of other intangible assets is estimated at $21.6 million for 2021, $21.1 million for 2022, $20.3 million for 2023, $19.8 million for 2024, $18.8 million for 2025 and $16.6 million for 2026. Purchased intangible amortization was $3.8 million, $2.9 million after tax, and $3.7 million, $2.8 million after tax, for the three months ended March 31, 2021 and 2020, 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 based upon shipping terms. To the extent the Company’s arrangements 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 related provisions for estimated returns and rebates are immaterial to the consolidated financial statements. Certain of the Company’s product 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 stand-alone 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 generally 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.
Employee Termination Benefits	Employee Termination BenefitsIn 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 comprehensive income with a corresponding offset to additional paid-in capital in the consolidated balance sheet. The Company recorded $4.6 million and $4.4 million of share-based compensation expense for the three months ended March 31, 2021 and 2020, respectively. On May 6, 2021, the Company's shareholders approved the adoption of the Company's 2013 Equity Incentive Plan (Amended and Restated), and with the effect that approximately 0.9 million
Research and Development	Research and Development Research and development costs primarily consist of salaries, consulting and other costs. The Company expenses these costs as incurred.
Business Combinations Policy [Policy Text Block]	Business Combinations and Asset Acquisitions The Company accounts for business acquisitions under the accounting standards for business combinations utilizing the acquisition method of accounting. The results of each acquisition are included in the Company's consolidated results as of the acquisition date. The purchase price of an acquisition is allocated to tangible and intangible assets and assumed liabilities based on their estimated fair values and any consideration in excess of the net assets acquired is recognized as goodwill. The determination of the values of the acquired assets and assumed liabilities, including goodwill and intangible assets, require significant judgement. Acquisition transaction costs are expensed when incurred. In circumstances where an acquisition involves a contingent consideration arrangement, the Company recognizes a liability equal to the fair value of the expected contingent payments as of the acquisition date. Subsequent changes in the fair value of the contingent consideration are recorded to other charges (income), net.
New Accounting Pronouncements, Policy [Policy Text Block]	Recent Accounting Pronouncements In March 2020, the FASB issued ASU 2020-04: Reference Rate Reform which provides optional expedients and exceptions for applying GAAP to contracts, hedging relationships, and other transactions affected by the discontinuance of LIBOR or another referenced rate. The guidance may be be applied to any applicable contract entered into before December 31, 2022. The Company is currently evaluating the impact of this guidance on the consolidated financial statements.

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	3 Months Ended
	Mar. 31, 2021
Accounting Policies [Abstract]
Components of inventories	Inventories consisted of the following: March 31, December 31, Raw materials and parts $ 134,636 $ 132,041 Work-in-progress 59,681 55,688 Finished goods 127,024 109,882 $ 321,341 $ 297,611
Components of other intangible assets	Other intangible assets consisted of the following : March 31, 2021 December 31, 2020 Gross Accumulated Intangibles, Net Gross Accumulated Intangibles, Net Customer relationships $ 279,600 $ (70,393) $ 209,207 $ 201,445 $ (68,319) $ 133,126 Proven technology and patents 98,175 (51,945) 46,230 78,312 (52,138) 26,174 Trade name (finite life) 8,164 (3,415) 4,749 4,896 (3,444) 1,452 Trade name (indefinite life) 35,539 — 35,539 35,595 — 35,595 Other 8,056 (5,136) 2,920 5,215 (4,777) 438 $ 429,534 $ (130,889) $ 298,645 $ 325,463 $ (128,678) $ 196,785

Revenue Recognition (Tables)

Revenue Recognition (Tables)	3 Months Ended
	Mar. 31, 2021
Revenue from Contract with Customer [Abstract]
Disaggregation of Revenue [Table Text Block]	Three months ended March 31, 2021 U.S. Operations Swiss Operations Western European Operations Chinese Operations Other Operations Total Product Revenue $ 205,191 $ 30,167 $ 136,899 $ 143,325 $ 111,333 $ 626,915 Service Revenue: Point in time 51,591 6,891 35,630 9,342 27,877 131,331 Over time 15,177 2,223 19,821 3,407 5,516 46,144 Total $ 271,959 $ 39,281 $ 192,350 $ 156,074 $ 144,726 $ 804,390 Three months ended March 31, 2020 U.S. Operations Swiss Operations Western European Operations Chinese Operations Other Operations Total Product Revenue $ 177,436 $ 24,276 $ 105,877 $ 90,321 $ 91,424 $ 489,334 Service Revenue: Point in time 50,234 5,557 31,391 7,106 25,676 119,964 Over time 13,739 2,064 16,057 3,172 4,832 39,864 Total $ 241,409 $ 31,897 $ 153,325 $ 100,599 $ 121,932 $ 649,162 A breakdown of net sales to external customers by geographic customer destination for the three months ended March 31 follows: 2021 2020 Americas $ 303,339 $ 264,824 Europe 241,377 194,828 Asia / Rest of World 259,674 189,510 Total $ 804,390 $ 649,162 The Company's global revenue mix by product category is laboratory (55% of sales), industrial (39% of sales) and retail (6% 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 breakdown of the Company’s sales by product category for the three months ended March 31 follows: 2021 2020 Laboratory $ 444,627 $ 357,091 Industrial 310,777 252,355 Retail 48,986 39,716 Total $ 804,390 $ 649,162

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	3 Months Ended
	Mar. 31, 2021
Fair Value Disclosures [Abstract]
Assets and liabilities measured at fair value on a recurring basis	March 31, 2021 December 31, 2020 Balance Sheet Location Foreign currency forward contracts not designated as hedging instruments $ 2,849 $ 2,227 Other current assets and prepaid expenses Total derivative assets $ 2,849 $ 2,227 Foreign currency forward contracts not designated as hedging instruments $ 1,799 $ 1,399 Accrued and other liabilities Cash Flow Hedges: Interest rate swap agreements $ 1,964 $ — Accrued and other liabilities Cross currency swap agreement $ 5,983 $ 13,093 Accrued and other liabilities Interest rate swap agreements — 2,502 Other non-current liabilities Cross currency swap agreement 2,681 6,297 Other non-current liabilities Total derivative liabilities $ 12,427 $ 23,291

Debt (Tables)

Debt (Tables)	3 Months Ended
	Mar. 31, 2021
Debt Disclosure [Abstract]
Debt	Debt consisted of the following at March 31, 2021: March 31, 2021 U.S. Dollar Other Principal Total 3.67% $50 million ten-year Senior Notes due December 17, 2022 $ 50,000 $ — $ 50,000 4.10% $50 million ten-year Senior Notes due September 19, 2023 50,000 — 50,000 3.84% $125 million ten-year Senior Notes due September 19, 2024 125,000 — 125,000 4.24% $125 million ten-year Senior Notes due June 25, 2025 125,000 — 125,000 3.91% $75 million ten-year Senior Notes due June 25, 2029 75,000 — 75,000 3.19% $50 million fifteen-year Senior Notes due January 24, 2035 50,000 — 50,000 1.47% Euro 125 million fifteen-year Senior Notes due June 17, 2030 — 147,197 147,197 1.30% Euro 135 million fifteen-year Senior Notes due November 6, 2034 — 158,973 158,973 1.06% Euro 125 million fifteen-year Senior Notes due March 19, 2036 — 147,197 147,197 Senior notes debt issuance costs, net (1,073) (1,610) (2,683) Total Senior Notes 473,927 451,757 925,684 $1.1 billion Credit Agreement, interest at LIBOR plus 87.5 basis points 505,605 127,637 633,242 Other local arrangements 2,196 52,437 54,633 Total debt 981,728 631,831 1,613,559 Less: current portion (222) (52,283) (52,505) Total long-term debt $ 981,506 $ 579,548 $ 1,561,054

Net Periodic Benefit Cost (Tabl

Net Periodic Benefit Cost (Tables)	3 Months Ended
	Mar. 31, 2021
Retirement Benefits [Abstract]
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 March 31: U.S. Pension Benefits Non-U.S. Pension Benefits Other U.S. Post-retirement Benefits Total 2021 2020 2021 2020 2021 2020 2021 2020 Service cost, net $ 374 $ 326 $ 4,945 $ 4,517 $ — $ — $ 5,319 $ 4,843 Interest cost on projected benefit obligations 548 889 850 1,180 2 6 1,400 2,075 Expected return on plan assets (1,494) (1,524) (8,972) (8,085) — — (10,466) (9,609) Recognition of prior service cost — — (471) (1,725) — — (471) (1,725) Recognition of actuarial losses/(gains) 729 644 6,299 5,654 (28) (26) 7,000 6,272 Net periodic pension cost/(credit) $ 157 $ 335 $ 2,651 $ 1,541 $ (26) $ (20) $ 2,782 $ 1,856

Restructuring Charges (Tables)

Restructuring Charges (Tables)	3 Months Ended
	Mar. 31, 2021
Restructuring and Related Activities [Abstract]
Company's accrual for restructuring activities	For the three months ending March 31, 2021, the Company incurred $1.2 million of restructuring expenses which primarily comprise employee related costs. Liabilities related to restructuring activities are included in accrued and other liabilities in the consolidated balance sheet. A roll forward of the Company’s accrual for restructuring activities for the three months ended March 31, 2021 is as follows: Total Balance at December 31, 2020 $ 9,184 Restructuring charges 1,193 Cash payments / utilization (4,573) Impact of foreign currency (209) Balance at March 31, 2021 $ 5,595

Segment Reporting (Tables)

Segment Reporting (Tables)	3 Months Ended
	Mar. 31, 2021
Segment Reporting [Abstract]
Operations of the Company's operating segments	The following tables show the operations of the Company’s reportable segments: Net Sales to Net Sales to For the three months ended External Other Total Net Segment March 31, 2021 Customers Segments Sales Profit Goodwill U.S. Operations $ 271,959 $ 36,784 $ 308,743 $ 63,671 $ 509,600 Swiss Operations 39,281 184,465 223,746 64,879 23,048 Western European Operations 192,350 52,255 244,605 37,866 92,193 Chinese Operations 156,074 69,078 225,152 72,024 683 Other (a) 144,726 1,095 145,821 20,172 15,163 Eliminations and Corporate (b) — (343,677) (343,677) (47,940) — Total $ 804,390 $ — $ 804,390 $ 210,672 $ 640,687 Net Sales to Net Sales to For the three months ended External Other Total Net Segment March 31, 2020 Customers Segments Sales Profit Goodwill U.S. Operations $ 241,409 $ 26,391 $ 267,800 $ 44,938 $ 413,898 Swiss Operations 31,897 152,848 184,745 53,910 22,751 Western European Operations 153,325 41,715 195,040 24,107 85,058 Chinese Operations 100,599 48,749 149,348 45,550 619 Other (a) 121,932 896 122,828 11,026 14,569 Eliminations and Corporate (b) — (270,599) (270,599) (38,253) — Total $ 649,162 $ — $ 649,162 $ 141,278 $ 536,895 (a) Other includes reporting units in Southeast Asia, Latin America, Eastern Europe 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 months ended March 31 follows: Three Months Ended March 31, 2021 March 31, 2020 Earnings before taxes $ 185,414 $ 118,499 Amortization 13,884 13,998 Interest expense 9,471 10,219 Restructuring charges 1,193 1,905 Other charges (income), net 710 (3,343) Segment profit $ 210,672 $ 141,278

Summary of Significant Accoun_4

Summary of Significant Accounting Policies (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Components of inventory
Raw materials and parts	$ 134,636	$ 132,041
Work-in-progress	59,681	55,688
Finished goods	127,024	109,882
Total Inventory, Net	$ 321,341	$ 297,611

Summary of Significant Accoun_5

Summary of Significant Accounting Policies (Details 1) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Intangible Assets [Line Items]
Finite and Indefinite-Lived Intangible Assets, Gross, Total	$ 429,534	$ 325,463
Total Accumulated Amortization	(130,889)	(128,678)
Intangible Assets, Net (Excluding Goodwill)	298,645	196,785
Tradename (indefinite life) [Member]
Intangible Assets [Line Items]
Gross amount, Tradename (indefinite life)	35,539	35,595
Intangible Assets, Net (Excluding Goodwill)	35,539	35,595
Customer Relationships [Member]
Intangible Assets [Line Items]
Gross amount	279,600	201,445
Accumulated Amortization	(70,393)	(68,319)
Intangible Assets, Net (Excluding Goodwill)	209,207	133,126
Proven technology and patents [Member]
Intangible Assets [Line Items]
Gross amount	98,175	78,312
Accumulated Amortization	(51,945)	(52,138)
Intangible Assets, Net (Excluding Goodwill)	46,230	26,174
Tradename (indefinite life) [Member]
Intangible Assets [Line Items]
Gross amount	8,164	4,896
Accumulated Amortization	(3,415)	(3,444)
Intangible Assets, Net (Excluding Goodwill)	4,749	1,452
Other Intangible Assets [Member]
Intangible Assets [Line Items]
Gross amount	8,056	5,215
Accumulated Amortization	(5,136)	(4,777)
Intangible Assets, Net (Excluding Goodwill)	$ 2,920	$ 438

Summary of Significant Accoun_6

Summary of Significant Accounting Policies (Details Textuals) - USD ($) $ in Millions	3 Months Ended		12 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Dec. 31, 2020
Summary of Significant Accounting Policies (Textuals) [Abstract]
Amortization expense	$ 4.1	$ 3.9
Future Amortization Expense Current Year	21.6
Aggregate amortization expense for 2020	21.1
Aggregate amortization expense for 2021	20.3
Aggregate amortization expense for 2022	19.8
Aggregate amortization expense for 2023	18.8
Aggregate amortization expense for 2024	16.6
Purchased Intangible Amortization, Gross	3.8		$ 3.7
Purchased intangible amortization, net of tax	2.9		$ 2.8
Amortization expense associated with capitalized software	9.8	10
Share - based compensation expense	$ 4.6	$ 4.4

Revenue Recognition (Details)

Revenue Recognition (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	$ 804,390	$ 649,162
Americas [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	303,339	264,824
Europe [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	241,377	194,828
Total Asia Rest of World [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	$ 259,674	189,510
Laboratory Related Products and Services [Member]
Disaggregation of Revenue [Line Items]
Percentage of Disaggregated Revenue in Relationship to Segments	55.00%
Revenue from Contract with Customer, Excluding Assessed Tax	$ 444,627	357,091
Product Revenue [Member] | Transferred at Point in Time [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	$ 626,915	489,334
Industrial Related Products and Services [Member]
Disaggregation of Revenue [Line Items]
Percentage of Disaggregated Revenue in Relationship to Segments	39.00%
Revenue from Contract with Customer, Excluding Assessed Tax	$ 310,777	252,355
Retail Related Products and Services [Member]
Disaggregation of Revenue [Line Items]
Percentage of Disaggregated Revenue in Relationship to Segments	6.00%
Revenue from Contract with Customer, Excluding Assessed Tax	$ 48,986	39,716
Service Revenue [Member] | Transferred at Point in Time [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	131,331	119,964
Service Revenue [Member] | Transferred over Time [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	46,144	39,864
Us Operations segment Member
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	271,959	241,409
Us Operations segment Member | Product Revenue [Member] | Transferred at Point in Time [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	205,191	177,436
Us Operations segment Member | Service Revenue [Member] | Transferred at Point in Time [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	51,591	50,234
Us Operations segment Member | Service Revenue [Member] | Transferred over Time [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	15,177	13,739
Swiss Operations segment Member
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	39,281	31,897
Swiss Operations segment Member | Product Revenue [Member] | Transferred at Point in Time [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	30,167	24,276
Swiss Operations segment Member | Service Revenue [Member] | Transferred at Point in Time [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	6,891	5,557
Swiss Operations segment Member | Service Revenue [Member] | Transferred over Time [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	2,223	2,064
Western European Operations Segment [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	192,350	153,325
Western European Operations Segment [Member] | Product Revenue [Member] | Transferred at Point in Time [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	136,899	105,877
Western European Operations Segment [Member] | Service Revenue [Member] | Transferred at Point in Time [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	35,630	31,391
Western European Operations Segment [Member] | Service Revenue [Member] | Transferred over Time [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	19,821	16,057
Chinese Operations Segment [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	156,074	100,599
Chinese Operations Segment [Member] | Product Revenue [Member] | Transferred at Point in Time [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	143,325	90,321
Chinese Operations Segment [Member] | Service Revenue [Member] | Transferred at Point in Time [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	9,342	7,106
Chinese Operations Segment [Member] | Service Revenue [Member] | Transferred over Time [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	3,407	3,172
Other Operations [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	144,726	121,932
Other Operations [Member] | Product Revenue [Member] | Transferred at Point in Time [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	111,333	91,424
Other Operations [Member] | Service Revenue [Member] | Transferred at Point in Time [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	27,877	25,676
Other Operations [Member] | Service Revenue [Member] | Transferred over Time [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	$ 5,516	$ 4,832

Revenue Recognition Details 1 (

Revenue Recognition Details 1 (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Dec. 31, 2020	Dec. 31, 2019
Revenue from Contract with Customer [Abstract]
Unbilled Contracts Receivable	$ 30,900		$ 22,600
Deferred Revenue	180,330	$ 144,836	$ 149,106	$ 122,489
Customer pre-payments/deferred revenue	162,765	145,168
Contract with Customer, Liability, Revenue Recognized	(127,985)	(120,291)
Temporary Equity, Foreign Currency Translation Adjustments	$ (3,556)	$ (2,530)
Revenue, Remaining Performance Obligation, Optional Exemption, Performance Obligation [true false]	true

Acquisitions (Details)

Acquisitions (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Mar. 24, 2021
Business Acquisition [Line Items]
Amortization of Intangible Assets	$ 4.1	$ 3.9
PendoTECH Acquisition [Member]
Business Acquisition [Line Items]
Goodwill, Acquired During Period	93.7
Amortization of Intangible Assets	$ 6.9
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net			$ 7.4
Minimum Useful Lives	5 years
Maximum Useful Lives	20 years
Business Combination, Contingent Consideration, Liability			13.5
Business Combination, Contingent Consideration Arrangements, Range of Outcomes, Value, High			$ 20
Business Combination, Consideration Transferred	$ 185
Business Combination Disclosure [Text Block]	In March 2021, the Company acquired all the membership interests of Mayfair Technology, LLC, ("PendoTECH") a manufacturer and distributor of single-use sensors, transmitters, control systems and software for measuring, monitoring and data collection primarily in bioprocess applications. PendoTECH serves bio-pharmaceutical manufacturers and life science laboratories and is located in the United States. The initial cash payment was $185.0 million and the Company may be required to pay additional consideration of up to $20.0 million and other post-closing amounts. The additional consideration is based upon financial thresholds in 2022 and 2023. The estimated fair value of the contingent consideration obligation at the time of acquisition of $13.5 million was determined using a Monte Carlo simulation based on the Company's forecast of future financial results. Goodwill recorded in connection with the acquisition totaled $93.7 million, which is deductible for tax purposes. Identified intangible finite-life assets acquired include customer relationships of $78.6 million, technology and patents of $21.7 million, trade name of $3.4 million, and other intangibles of $2.4 million. The Company used variations of the income statement approach in determining the fair value of the intangible assets acquired; specifically, the multi-period excess earnings method to determine the fair value of the customer relationships acquired and the relief from royalty method to determine the fair value of the technology and patents. The Company's determination of the fair value of the intangible assets acquired involved the use of significant estimates and assumptions principally related to revenue growth, royalty and customer attrition rates.
Customer Relationships [Member] | PendoTECH Acquisition [Member]
Business Acquisition [Line Items]
Finite-lived Intangible Assets Acquired	$ 78.6
Technology-Based Intangible Assets [Member] | PendoTECH Acquisition [Member]
Business Acquisition [Line Items]
Finite-lived Intangible Assets Acquired	21.7
Other Intangible Assets [Member] | PendoTECH Acquisition [Member]
Business Acquisition [Line Items]
Finite-lived Intangible Assets Acquired	2.4
Tradename (indefinite life) [Member] | PendoTECH Acquisition [Member]
Business Acquisition [Line Items]
Finite-lived Intangible Assets Acquired	$ 3.4

Financial Instruments (Details)

Financial Instruments (Details) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Dec. 31, 2020
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Gain (Loss) on Foreign Currency Derivative Instruments Not Designated as Hedging Instruments	$ 12,500		$ 7,300
Not Designated as Hedging Instrument [Member]
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative, Notional Amount	805,400		$ 536,500
Cash Flow Hedge Gain (Loss) to be Reclassified within Twelve Months	900
2017 Cross Currency Swap [Member] | Designated as Hedging Instrument [Member]
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Gain (Loss) on Interest Rate Cash Flow Hedge Ineffectiveness	0	$ 0
2.52% $50 Million Interest Rate Swap [Member] | Designated as Hedging Instrument [Member]
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Gain (Loss) on Interest Rate Cash Flow Hedge Ineffectiveness	0	$ 0
2.25% $100 Million Interest Rate Swap [Member] | Designated as Hedging Instrument [Member]
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Line Of Credit Facility Forecasted Borrowing Amount	$ 100,000
Derivative, Fixed Interest Rate	2.25%
June 2019 4 YR Cross Currency Swap | Designated as Hedging Instrument [Member]
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Line Of Credit Facility Forecasted Borrowing Amount	$ 50,000
Derivative, Fixed Interest Rate	0.82%
June 2019 2 YR Cross Currency Swap | Designated as Hedging Instrument [Member]
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Line Of Credit Facility Forecasted Borrowing Amount	$ 50,000
Derivative, Fixed Interest Rate	0.95%
February 2019 2 YR Cross Currency Swap | Designated as Hedging Instrument [Member]
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Line Of Credit Facility Forecasted Borrowing Amount	$ 50,000
Derivative, Fixed Interest Rate	0.78%

Fair Value Measurements (Detail

Fair Value Measurements (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Mar. 24, 2021	Dec. 31, 2020
Assets and liabilities measured at fair value on a recurring basis
Derivative Assets	$ 2,800		$ 2,200
Derivative Liabilities	12,400		23,300
Fair Value, Inputs, Level 3 [Member]
Assets and liabilities measured at fair value on a recurring basis
Business Combination, Contingent Consideration, Liability		$ 13,500
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member]
Assets and liabilities measured at fair value on a recurring basis
Derivative Assets	2,849		2,227
Foreign Currency Derivative Instruments Not Designated As Hedging Instruments Asset At Fair Value	2,849		2,227
Derivative Liabilities	12,427		23,291
Foreign Currency Cash Flow Hedge Liability at Fair Value	2,681		6,297
Interest Rate Cash Flow Hedge Liability at Fair Value	0		2,502
Foreign Currency Cash Flow Hedge Short Term	5,983		13,093
Interest Rate Swap Short Term	1,964		0
Foreign Currency Derivative Instruments Not Designated As Hedging Instruments Liability At Fair Value	$ 1,799		$ 1,399

Fair Value Measurements (Deta_2

Fair Value Measurements (Details Textuals) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Derivative Assets	$ 2,800	$ 2,200
Derivative Liabilities	12,400	23,300
Fair Value, Inputs, Level 2 [Member]
Cash Equivalents	18,000	14,300
Change in Carrying Value Verse Fair Value of Long Term Debt	39,600
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member]
Derivative Assets	2,849	2,227
Derivative Liabilities	$ 12,427	$ 23,291

Income Taxes (Details)

Income Taxes (Details)	3 Months Ended
	Mar. 31, 2021Rate	Mar. 31, 2020Rate
Effective Income Tax Rate, Continuing Operations	19.30%	17.20%
Annual Effective Tax Rate before recurring discrete tax items	19.50%	21.50%

Debt (Details)

Debt (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2021	Dec. 31, 2020	Dec. 18, 2020	Apr. 30, 2018
Debt Instrument [Line Items]
Senior Notes	$ 925,684
Unamortized Debt Issuance Expense	(2,683)
Debt, Long-term and Short-term, Combined Amount	1,613,559
Short-term borrowings and current maturities of long-term debt	(52,505)	$ (50,317)
Long-term Debt, Excluding Current Maturities	1,561,054	1,284,174
Gain (Loss) on Derivative Used in Net Investment Hedge, after Tax	17,600	$ 2,000
Cumulative (gain) loss in other other comprehensive income related to the change in a net investment hedge.	11,200
Forward Currency Forward Contract			$ 152,100
3.67 % Senior Notes [Member]
Debt Instrument [Line Items]
Senior Notes	50,000
Debt Instrument, Face Amount	$ 50,000
Debt Instrument, Maturity Date	Dec. 17, 2022
Debt Instrument, Interest Rate, Stated Percentage	3.67%
4.10% Senior Notes [Member]
Debt Instrument [Line Items]
Senior Notes	$ 50,000
Debt Instrument, Face Amount	$ 50,000
Debt Instrument, Maturity Date	Sep. 19, 2023
Debt Instrument, Interest Rate, Stated Percentage	4.10%
3.84% Senior Notes [Member]
Debt Instrument [Line Items]
Senior Notes	$ 125,000
Debt Instrument, Face Amount	$ 125,000
Debt Instrument, Maturity Date	Sep. 19, 2024
Debt Instrument, Interest Rate, Stated Percentage	3.84%
4.24% Senior Notes [Member]
Debt Instrument [Line Items]
Senior Notes	$ 125,000
Debt Instrument, Face Amount	$ 125,000
Debt Instrument, Maturity Date	Jun. 25, 2025
Debt Instrument, Interest Rate, Stated Percentage	4.24%
1.47% EURO Senior Notes [Member]
Debt Instrument [Line Items]
Senior Notes	$ 147,197
Debt Instrument, Face Amount	$ 125,000
Debt Instrument, Maturity Date	Jun. 17, 2030
Debt Instrument, Interest Rate, Stated Percentage	1.47%
$1.1 Billion Credit Agreement [Member]
Debt Instrument [Line Items]
Line of Credit Facility, Remaining Borrowing Capacity	$ 460,700
Long-term Line of Credit	633,242
Debt Instrument, Face Amount	$ 1,100,000
Debt Instrument, Interest Rate, Stated Percentage	0.875%
3.91% Senior Notes [Member]
Debt Instrument [Line Items]
Senior Notes	$ 75,000
Debt Instrument, Face Amount	$ 75,000
Debt Instrument, Maturity Date	Jun. 25, 2029
Debt Instrument, Interest Rate, Stated Percentage	3.91%
Other Local Arrangements [Member]
Debt Instrument [Line Items]
Other Borrowings	$ 54,633
Swiss Pension Loan [Member]
Debt Instrument [Line Items]
Loan from Swiss Pension Plan USD Amount				$ 39,600
Swiss Pension Plan Loan in Swiss franc				$ 38,000
3.19% Senior Notes
Debt Instrument [Line Items]
Senior Notes	50,000
Debt Instrument, Face Amount	$ 50,000
Debt Instrument, Maturity Date	Jan. 24, 2035
Debt Instrument, Interest Rate, Stated Percentage	3.19%
1.30% EURO Senior Notes
Debt Instrument [Line Items]
Senior Notes	$ 158,973
Debt Instrument, Face Amount	$ 135,000
Debt Instrument, Maturity Date	Nov. 6, 2034
Debt Instrument, Interest Rate, Stated Percentage	1.30%
1.06% EURO Senior Notes
Debt Instrument [Line Items]
Senior Notes	$ 147,197		$ 125,000
Debt Instrument, Face Amount	$ 125,000
Debt Instrument, Maturity Date	Mar. 19, 2036
Debt Instrument, Interest Rate, Stated Percentage	1.06%		1.06%
Us Dollar Amounts Member
Debt Instrument [Line Items]
Senior Notes	$ 473,927
Unamortized Debt Issuance Expense	(1,073)
Debt, Long-term and Short-term, Combined Amount	981,728
Short-term borrowings and current maturities of long-term debt	(222)
Long-term Debt, Excluding Current Maturities	981,506
Us Dollar Amounts Member | 3.67 % Senior Notes [Member]
Debt Instrument [Line Items]
Senior Notes	50,000
Us Dollar Amounts Member | 4.10% Senior Notes [Member]
Debt Instrument [Line Items]
Senior Notes	50,000
Us Dollar Amounts Member | 3.84% Senior Notes [Member]
Debt Instrument [Line Items]
Senior Notes	125,000
Us Dollar Amounts Member | 4.24% Senior Notes [Member]
Debt Instrument [Line Items]
Senior Notes	125,000
Us Dollar Amounts Member | 1.47% EURO Senior Notes [Member]
Debt Instrument [Line Items]
Senior Notes	0
Us Dollar Amounts Member | $1.1 Billion Credit Agreement [Member]
Debt Instrument [Line Items]
Long-term Line of Credit	505,605
Us Dollar Amounts Member | 3.91% Senior Notes [Member]
Debt Instrument [Line Items]
Senior Notes	75,000
Us Dollar Amounts Member | Other Local Arrangements [Member]
Debt Instrument [Line Items]
Other Borrowings	2,196
Us Dollar Amounts Member | 3.19% Senior Notes
Debt Instrument [Line Items]
Senior Notes	50,000
Us Dollar Amounts Member | 1.30% EURO Senior Notes
Debt Instrument [Line Items]
Senior Notes	0
Us Dollar Amounts Member | 1.06% EURO Senior Notes
Debt Instrument [Line Items]
Senior Notes	0
Other Principal Trading Currencies [Member]
Debt Instrument [Line Items]
Senior Notes	451,757
Unamortized Debt Issuance Expense	(1,610)
Debt, Long-term and Short-term, Combined Amount	631,831
Short-term borrowings and current maturities of long-term debt	(52,283)
Long-term Debt, Excluding Current Maturities	579,548
Other Principal Trading Currencies [Member] | 3.67 % Senior Notes [Member]
Debt Instrument [Line Items]
Senior Notes	0
Other Principal Trading Currencies [Member] | 4.10% Senior Notes [Member]
Debt Instrument [Line Items]
Senior Notes	0
Other Principal Trading Currencies [Member] | 3.84% Senior Notes [Member]
Debt Instrument [Line Items]
Senior Notes	0
Other Principal Trading Currencies [Member] | 4.24% Senior Notes [Member]
Debt Instrument [Line Items]
Senior Notes	0
Other Principal Trading Currencies [Member] | 1.47% EURO Senior Notes [Member]
Debt Instrument [Line Items]
Senior Notes	147,197
Other Principal Trading Currencies [Member] | $1.1 Billion Credit Agreement [Member]
Debt Instrument [Line Items]
Long-term Line of Credit	127,637
Other Principal Trading Currencies [Member] | 3.91% Senior Notes [Member]
Debt Instrument [Line Items]
Senior Notes	0
Other Principal Trading Currencies [Member] | Other Local Arrangements [Member]
Debt Instrument [Line Items]
Other Borrowings	52,437
Other Principal Trading Currencies [Member] | 3.19% Senior Notes
Debt Instrument [Line Items]
Senior Notes	0
Other Principal Trading Currencies [Member] | 1.30% EURO Senior Notes
Debt Instrument [Line Items]
Senior Notes	158,973
Other Principal Trading Currencies [Member] | 1.06% EURO Senior Notes
Debt Instrument [Line Items]
Senior Notes	$ 147,197

Share Repurchase Program and _2

Share Repurchase Program and Treasury Stock (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Dec. 31, 2020
Stock Repurchase Program, Additional Authorized Amount			$ 2,500,000
Share Repurchase Program and Treasury Stock (Textuals) [Abstract]
Authorized amount under share repurchase program	$ 2,800,000
Shares Purchased Under Share Repurchase Program	29,700,000
Repurchases of common stock	$ (262,500)	$ (200,000)
Number of shares repurchased	(224,808)	(268,161)
Average price of share repurchased, per share	$ 1,167.64	$ 745.80
Exercise of stock options and restricted stock units, shares reissued	22,388	50,372

Earnings Per Common Share (Deta

Earnings Per Common Share (Details) - shares	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Weighted Average Number Diluted Shares Outstanding Adjustment [Abstract]
Weighted Average Number of Shares Outstanding, Diluted, Total	320,588	325,644
Antidilutive Shares Outstanding
Weighted Average Number of Shares Outstanding, Antidilutive, Total	20,960	88,622

Net Periodic Benefit Cost (Deta

Net Periodic Benefit Cost (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Impact of Adopting ASU 2017-07 ASC 715 Compensation-Retirement Benefits	$ 2,500	$ 3,000
Defined Benefit Plan, Service Cost	5,319	4,843
Defined Benefit Plan, Interest Cost	1,400	2,075
Defined Benefit Plan, Expected Return (Loss) on Plan Assets	(10,466)	(9,609)
Defined Benefits Plan Net amortization and deferral	(471)	(1,725)
Defined Benefit Plan, Benefit Obligation, Actuarial Gain (Loss)	7,000	6,272
Defined Benefit Plan, Net Periodic Benefit Cost (Credit)	2,782	1,856
Pension Plan [Member]
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Defined Benefit Plan, Expected Future Employer Contributions, Remainder of Fiscal Year	27,900
Pension Plan [Member] | Foreign Plan [Member]
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Defined Benefit Plan, Service Cost	4,945	4,517
Defined Benefit Plan, Interest Cost	850	1,180
Defined Benefit Plan, Expected Return (Loss) on Plan Assets	(8,972)	(8,085)
Defined Benefits Plan Net amortization and deferral	(471)	(1,725)
Defined Benefit Plan, Benefit Obligation, Actuarial Gain (Loss)	6,299	5,654
Defined Benefit Plan, Net Periodic Benefit Cost (Credit)	2,651	1,541
Pension Plan [Member] | UNITED STATES
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Defined Benefit Plan, Service Cost	374	326
Defined Benefit Plan, Interest Cost	548	889
Defined Benefit Plan, Expected Return (Loss) on Plan Assets	(1,494)	(1,524)
Defined Benefits Plan Net amortization and deferral	0	0
Defined Benefit Plan, Benefit Obligation, Actuarial Gain (Loss)	729	644
Defined Benefit Plan, Net Periodic Benefit Cost (Credit)	157	335
Other Postretirement Benefits Plan [Member]
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Defined Benefit Plan, Service Cost	0	0
Defined Benefit Plan, Interest Cost	2	6
Defined Benefit Plan, Expected Return (Loss) on Plan Assets	0	0
Defined Benefits Plan Net amortization and deferral	0	0
Defined Benefit Plan, Benefit Obligation, Actuarial Gain (Loss)	(28)	(26)
Defined Benefit Plan, Net Periodic Benefit Cost (Credit)	(26)	$ (20)
Defined Benefit Plan, Expected Future Employer Contributions, Remainder of Fiscal Year	$ 200

Restructuring Charges (Details)

Restructuring Charges (Details) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Dec. 31, 2020
Company's accrual for restructuring activities:-
Beginning Restructuring Accrual Balance, as of December 31, 2015	$ 9,184
Restructuring Charges	1,193	$ 1,905	$ 1,900
Restructuring Cash Payments	(4,573)
Impact of foreign currency on restructuring reserve	(209)
Ending Restructuring Accrual Balance, as of March 31, 2016	$ 5,595		$ 9,184

Restructuring Charges Restructu

Restructuring Charges Restructuring Charges (textuals) (Details) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Dec. 31, 2020
Restructuring Charges [Abstract]
Restructuring Charges	$ 1,193	$ 1,905	$ 1,900

Other Charges , Net Other Charg

Other Charges , Net Other Charges, Net (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Other Income and Expenses [Abstract]
Impact of Adopting ASU 2017-07 ASC 715 Compensation-Retirement Benefits	$ 2.5	$ 3
Business Combination, Acquisition Related Costs	$ 2.8

Segment Reporting (Details)

Segment Reporting (Details) - USD ($)	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Dec. 31, 2020
Operations of the Company's operating segments
Net Sales to External Customers	$ 804,390,000	$ 649,162,000
Revenue Transactions With Other Operating Segments	0	0
Net Sales	804,390,000	649,162,000
Segment Profit	210,672,000	141,278,000
Goodwill	640,687,000	536,895,000	$ 550,270,000
Us Operations segment Member
Operations of the Company's operating segments
Net Sales to External Customers	271,959,000	241,409,000
Revenue Transactions With Other Operating Segments	36,784,000	26,391,000
Net Sales	308,743,000	267,800,000
Segment profit	63,671,000	44,938,000
Goodwill	509,600,000	413,898,000
Swiss Operations segment Member
Operations of the Company's operating segments
Net Sales to External Customers	39,281,000	31,897,000
Revenue Transactions With Other Operating Segments	184,465,000	152,848,000
Net Sales	223,746,000	184,745,000
Segment profit	64,879,000	53,910,000
Goodwill	23,048,000	22,751,000
Western European Operations [Member]
Operations of the Company's operating segments
Net Sales to External Customers	192,350,000	153,325,000
Revenue Transactions With Other Operating Segments	52,255,000	41,715,000
Net Sales	244,605,000	195,040,000
Segment profit	37,866,000	24,107,000
Goodwill	92,193,000	85,058,000
Chinese Operations [Member]
Operations of the Company's operating segments
Net Sales to External Customers	156,074,000	100,599,000
Revenue Transactions With Other Operating Segments	69,078,000	48,749,000
Net Sales	225,152,000	149,348,000
Segment profit	72,024,000	45,550,000
Goodwill	683,000	619,000
Other Operations [Member]
Operations of the Company's operating segments
Net Sales to External Customers	144,726,000	121,932,000
Revenue Transactions With Other Operating Segments	1,095,000	896,000
Net Sales	145,821,000	122,828,000
Segment profit	20,172,000	11,026,000
Goodwill	15,163,000	14,569,000
Intersegment Elimination [Member]
Operations of the Company's operating segments
Net Sales to External Customers	0	0
Revenue Transactions With Other Operating Segments	(343,677,000)	(270,599,000)
Net Sales	(343,677,000)	(270,599,000)
Segment profit	(47,940,000)	(38,253,000)
Goodwill	$ 0	$ 0

Segment Reporting (Details 1)

Segment Reporting (Details 1) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Dec. 31, 2020
Reconciliation of earnings before taxes to segment profit
Earnings before taxes	$ 185,414	$ 118,499
Amortization	13,884	13,998
Interest Expense	9,471	10,219
Restructuring Charges	1,193	1,905	$ 1,900
Other charges (income), net	710	(3,343)
Segment Profit Information	$ 210,672	$ 141,278

Segment Reporting (Details Text

Segment Reporting (Details Textuals) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Dec. 31, 2020
Segment Reporting (Textuals) [Abstract]
Restructuring Charges	$ 1,193	$ 1,905	$ 1,900
Western European Operations [Member]
Segment Reporting (Textuals) [Abstract]
Restructuring Charges	500	800
Other Operations [Member]
Segment Reporting (Textuals) [Abstract]
Restructuring Charges	200	100
Us Operations segment Member
Segment Reporting (Textuals) [Abstract]
Restructuring Charges	300		$ 300
Swiss Operations segment Member
Segment Reporting (Textuals) [Abstract]
Restructuring Charges	$ 200	$ 700