Mettler-Toledo International (MTD) 10-Q 30 Jul 21 2021 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information Document	6 Months Ended
	Jun. 30, 2021shares
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 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	23,116,939
Entity Central Index Key	0001037646
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q2
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		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Revenues	$ 924,351	$ 690,673	$ 1,728,741	$ 1,339,835
Gross profit	536,904	397,970	1,008,600	772,379
Research and development	42,603	31,193	81,875	65,580
Selling, general and administrative	239,045	190,134	460,797	388,878
Amortization	16,218	13,889	30,102	27,887
Interest expense	10,439	9,582	19,910	19,801
Restructuring Charges	876	860	2,069	2,765
Other charges (income), net	(2,661)	(2,943)	(1,951)	(6,286)
Earnings before taxes	230,384	155,255	415,798	273,754
Provision for taxes	45,621	28,693	81,372	49,077
Net earnings	$ 184,763	$ 126,562	$ 334,426	$ 224,677
Basic earnings per common share:
Net earnings	$ 7.97	$ 5.29	$ 14.37	$ 9.37
Weighted average number of common shares	23,191,155	23,940,278	23,277,636	23,984,055
Diluted earnings per common share:
Net earnings	$ 7.85	$ 5.22	$ 14.17	$ 9.25
Weighted average number of common and common equivalent shares	23,521,793	24,228,989	23,603,805	24,291,321
Comprehensive Income, Net of Tax (Note 9)	$ 193,915	$ 128,658	$ 366,759	$ 202,745
Product [Member]
Revenues	736,486	537,113	1,363,401	1,026,447
Cost of Goods and Services Sold	294,053	217,008	539,323	408,631
Service [Member]
Revenues	187,865	153,560	365,340	313,388
Cost of Goods and Services Sold	$ 93,394	$ 75,695	$ 180,818	$ 158,825

Interim Consolidated Balance Sh

Interim Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Current assets:
Cash and cash equivalents	$ 142,252	$ 94,254
Trade accounts receivable, less allowances	600,191	593,809
Inventories	350,159	297,611
Other current assets and prepaid expenses	80,009	71,230
Total current assets	1,172,611	1,056,904
Property, plant and equipment, net	790,512	798,868
Goodwill	642,186	550,270
Other intangible assets, net	293,719	196,785
Deferred tax assets, net	41,240	41,836
Other non-current assets	202,636	169,886
Total assets	3,142,904	2,814,549
Current liabilities:
Trade accounts payable	210,811	175,801
Accrued and other liabilities	195,816	196,834
Accrued compensation and related items	166,975	179,252
Deferred Revenue	192,199	149,106
Taxes payable	119,543	89,017
Short-term borrowings and current maturities of long-term debt	53,025	50,317
Total current liabilities	938,369	840,327
Long-term debt	1,602,005	1,284,174
Deferred tax liabilities, net	35,587	34,448
Other non-current liabilities	375,519	372,925
Total liabilities	2,951,480	2,531,874
Commitments and contingencies (Note 15)
Shareholders' equity:
Preferred stock, $0.01 par value per share; authorized 10,000,000 shares	0	0
Common stock, $0.01 par value per share; authorized 125,000,000 shares; issued 44,786,011 and 44,786,011 shares; outstanding 23,794,563 and 24,125,317 shares at September 30, 2020 and December 31, 2019, respectively	448	448
Additional paid-in capital	815,535	805,140
Treasury stock at cost (20,991,448 shares at September 30, 2020 and 20,660,694 shares at December 31, 2019)	(5,751,052)	(5,283,584)
Retained earnings	5,429,085	5,095,596
Accumulated Other Comprehensive Income (Loss), Net of Tax	(302,592)	(334,925)
Total shareholders' equity	191,424	282,675
Total liabilities and shareholders' equity	$ 3,142,904	$ 2,814,549

Balance Sheet Parentheticals (P

Balance Sheet Parentheticals (Parentheticals) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Accounts Receivable, Allowance for Credit Loss, Current	$ 17,979	$ 17,009
Preferred Stock, Par or Stated Value Per Share	$ 0.01	$ 0.01
Preferred Stock, Shares Authorized	10,000,000	10,000,000
Common Stock, Par or Stated Value Per Share	$ 0.01	$ 0.01
Common Stock, Shares Authorized	125,000,000	125,000,000
Common Stock, Shares, Issued	44,786,011	44,786,011
Common Stock, Shares, Outstanding	23,794,563	24,125,317
Treasury Stock, Shares	20,991,448	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
Stock Issued During Period, Value, Treasury Stock Reissued	(7,135)		0	(9,355)	(2,220)
Exercise of stock options and restricted stock units, shares		50,372
Treasury Stock, Value, Acquired, Cost Method	(200,000)			(200,000)
Repurchases of common stock, shares		(268,161)
Adjustment to Additional Paid in Capital, Share-Based Compensation	4,395		4,395
Net earnings	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, 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	114,109
Treasury Stock, Value, Acquired, Cost Method	$ (200,000)
Repurchases of common stock, shares	(268,161)
Net earnings	$ 224,677
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent	(21,932)
Ending balance at Jun. 30, 2020	450,093	$ 448	792,689	(4,717,962)	4,720,523	(345,605)
Ending balance, shares at Jun. 30, 2020		23,971,265
Beginning balance at Mar. 31, 2020	306,397	$ 448	788,266	(4,729,799)	4,595,183	(347,701)
Beginning balance, shares at Mar. 31, 2020		23,907,528
Stock Issued During Period, Value, Treasury Stock Reissued	(10,615)		0	(11,837)	(1,222)
Exercise of stock options and restricted stock units, shares		63,737
Treasury Stock, Value, Acquired, Cost Method	0			0
Repurchases of common stock, shares		0
Adjustment to Additional Paid in Capital, Share-Based Compensation	4,423		4,423
Net earnings	126,562				126,562
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent	2,096					2,096
Ending balance at Jun. 30, 2020	450,093	$ 448	792,689	(4,717,962)	4,720,523	(345,605)
Ending balance, shares at Jun. 30, 2020		23,971,265
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
Stock Issued During Period, Value, Treasury Stock Reissued	$ (5,049)		(1,239)	(4,682)	(872)
Exercise of stock options and restricted stock units, shares		22,388
Treasury Stock, Value, Acquired, Cost Method	(262,500)			(262,500)
Repurchases of common stock, shares		(224,808)
Adjustment to Additional Paid in Capital, Share-Based Compensation	4,575		4,575
Net earnings	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	$ 448	810,954	(5,541,402)	5,244,387	(311,744)
Ending balance, shares at Mar. 31, 2021		23,269,421
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	35,636
Treasury Stock, Value, Acquired, Cost Method	$ (475,000)
Repurchases of common stock, shares	(390,538)
Net earnings	$ 334,426
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent	32,333
Ending balance at Jun. 30, 2021	$ 191,424	$ 448	815,535	(5,751,052)	5,429,085	(302,592)
Ending balance, shares at Jun. 30, 2021	23,794,563	23,116,939
Beginning balance at Mar. 31, 2021	$ 202,643	$ 448	810,954	(5,541,402)	5,244,387	(311,744)
Beginning balance, shares at Mar. 31, 2021		23,269,421
Stock Issued During Period, Value, Treasury Stock Reissued	(2,784)		0	(2,849)	(65)
Exercise of stock options and restricted stock units, shares		13,248
Treasury Stock, Value, Acquired, Cost Method	(212,499)			(212,499)
Repurchases of common stock, shares		(165,730)
Adjustment to Additional Paid in Capital, Share-Based Compensation	4,581		4,581
Net earnings	184,763				184,763
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent	9,152					9,152
Ending balance at Jun. 30, 2021	$ 191,424	$ 448	$ 815,535	$ (5,751,052)	$ 5,429,085	$ (302,592)
Ending balance, shares at Jun. 30, 2021	23,794,563	23,116,939

Interim Consolidated Statemen_3

Interim Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Cash flows from operating activities:
Net earnings	$ 334,426	$ 224,677
Adjustments to reconcile net earnings to net cash provided by operating activities:
Depreciation	22,261	20,327
Amortization	30,102	27,887
Deferred tax benefit	(7,423)	(4,570)
Share-based compensation	9,156	8,818
Increase (decrease) in cash resulting from changes in:
Trade accounts receivable, net	(9,551)	71,081
Inventories	(52,794)	(26,081)
Other current assets	(3,893)	(10,050)
Trade accounts payable	34,045	(28,136)
Taxes payable	33,598	762
Increase (Decrease) in Other Operating Assets and Liabilities, Net	14,485	(35,963)
Net cash provided by operating activities	404,412	248,752
Cash flows from investing activities:
Proceeds from sale of property, plant and equipment	3,248	2,025
Purchase of property, plant and equipment	(47,363)	(37,089)
Acquisitions	(185,534)	(6,242)
Payments for (Proceeds from) Derivative Instrument, Investing Activities	3,604	(9,281)
Net cash used in investing activities	(226,045)	(50,587)
Cash flows from financing activities:
Proceeds from borrowings	1,204,996	1,076,098
Repayments of borrowings	(866,153)	(1,168,125)
Proceeds from stock option exercises	7,833	17,750
Repurchases of common stock	(474,999)	(200,000)
Proceeds from (Payments for) Other Financing Activities	(2,288)	(800)
Net cash used in financing activities	(130,611)	(275,077)
Effect of exchange rate changes on cash and cash equivalents	242	(3,596)
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect	47,998	(80,508)
Cash and cash equivalents:
Beginning of period	94,254	207,785
End of period	$ 142,252	$ 127,277

Other Comprehensive Income

Other Comprehensive Income	6 Months Ended
	Jun. 30, 2021
Other Comprehensive Income (Loss), Net of Tax [Abstract]
Comprehensive Income (Loss) Note [Text Block]	ACCUMULATED OTHER COMPREHENSIVE INCOME Comprehensive income (loss), net of tax consisted of the following as of June 30: Three Months Ended Six Months Ended 2021 2020 2021 2020 Net earnings $ 184,763 $ 126,562 $ 334,426 $ 224,677 Other comprehensive income (loss), net of tax 9,152 2,096 32,333 (21,932) Comprehensive income, net of tax $ 193,915 $ 128,658 $ 366,759 $ 202,745 The following table presents changes in accumulated other comprehensive income by component for the six months ended June 30, 2021 and 2020: Currency Translation Adjustment, Net of Tax 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 — 5,934 — 5,934 Foreign currency translation adjustment 11,717 — 9,147 20,864 Amounts recognized from accumulated other comprehensive income (loss), net of tax — (4,732) 10,267 5,535 Net change in other comprehensive income (loss), net of tax 11,717 1,202 19,414 32,333 Balance at June 30, 2021 $ (19,384) $ (277) $ (282,931) $ (302,592) Currency Translation Adjustment, Net of Tax 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 — (3,951) — (3,951) Foreign currency translation adjustment (21,326) — (5,949) (27,275) Amounts recognized from accumulated other comprehensive income (loss), net of tax — 2,195 7,099 9,294 Net change in other comprehensive income (loss), net of tax (21,326) (1,756) 1,150 (21,932) Balance at June 30, 2020 $ (82,341) $ (2,978) $ (260,286) $ (345,605) The following table presents amounts recognized from accumulated other comprehensive income (loss) for the three and six month periods ended June 30: Three Months Ended June 30, 2021 2020 Location of Amounts Recognized in Earnings Effective portion of (gains) / losses on cash flow hedging arrangements: Interest rate swap agreements $ 543 $ 692 Interest expense Cross currency swap agreement 2,876 34 (a) Total before taxes 3,419 726 Provision for taxes 684 179 Provision for taxes Total, net of taxes $ 2,735 $ 547 Recognition of defined benefit pension and post-retirement items: Recognition of actuarial losses and prior service cost, before taxes $ 6,482 $ 4,596 (b) Provision for taxes 1,367 1,000 Provision for taxes Total, net of taxes $ 5,115 $ 3,596 (a) The cross currency swap reflects an unrealized loss of $3.3 million for the three months ended June 30, 2021 recorded in other charges (income) that was offset by the underlying unrealized gain on the hedged debt. The cross currency swap also reflects a realized gain of $0.4 million recorded in interest expense for the three months ended June 30, 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 June 30, 2021 and 2020. Six Months Ended June 30, 2021 2020 Location of Amounts Recognized in Earnings Effective portion of (gains) / losses on cash flow hedging arrangements: Interest rate swap agreements $ 1,074 $ 940 Interest expense Cross currency swap agreement (6,832) 1,620 (a) Total before taxes (5,758) 2,560 Provision for taxes (1,026) 365 Provision for taxes Total, net of taxes $ (4,732) $ 2,195 Recognition of defined benefit pension and post-retirement items: Recognition of actuarial losses and prior service cost, before taxes $ 13,011 $ 9,089 (b) Provision for taxes 2,744 1,990 Provision for taxes Total, net of taxes $ 10,267 $ 7,099 (a) The cross currency swap reflects an unrealized gain of $6.1 million for the six months ended June 30, 2021 recorded in other charges (income) that was offset by the underlying unrealized loss on the hedged debt. The cross currency swap also reflects a realized gain of $0.8 million recorded in interest expense for the six months ended June 30, 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 six months ended June 30, 2021 and 2020.

Other Comprehensive Income_2

Other Comprehensive Income	6 Months Ended
	Jun. 30, 2021
Other Comprehensive Income (Loss), Net of Tax [Abstract]
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block]	The following table presents changes in accumulated other comprehensive income by component for the six months ended June 30, 2021 and 2020: Currency Translation Adjustment, Net of Tax 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 — 5,934 — 5,934 Foreign currency translation adjustment 11,717 — 9,147 20,864 Amounts recognized from accumulated other comprehensive income (loss), net of tax — (4,732) 10,267 5,535 Net change in other comprehensive income (loss), net of tax 11,717 1,202 19,414 32,333 Balance at June 30, 2021 $ (19,384) $ (277) $ (282,931) $ (302,592)
Disclosure of Reclassification Amount [Text Block]	The following table presents amounts recognized from accumulated other comprehensive income (loss) for the three and six month periods ended June 30: Three Months Ended June 30, 2021 2020 Location of Amounts Recognized in Earnings Effective portion of (gains) / losses on cash flow hedging arrangements: Interest rate swap agreements $ 543 $ 692 Interest expense Cross currency swap agreement 2,876 34 (a) Total before taxes 3,419 726 Provision for taxes 684 179 Provision for taxes Total, net of taxes $ 2,735 $ 547 Recognition of defined benefit pension and post-retirement items: Recognition of actuarial losses and prior service cost, before taxes $ 6,482 $ 4,596 (b) Provision for taxes 1,367 1,000 Provision for taxes Total, net of taxes $ 5,115 $ 3,596
Schedule of Comprehensive Income (Loss) [Table Text Block]	.

Other Comprehensive Income_2_3

Other Comprehensive Income - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2020	Dec. 31, 2019
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated Other Comprehensive Income (Loss), Net of Tax	$ (302,592)	$ (345,605)	$ (334,925)	$ (323,673)
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax	5,934	(3,951)
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment, Net of Tax	20,864	(27,275)
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax	5,535	9,294
Other Comprehensive Income (Loss), Net of Tax	32,333	(21,932)
Accumulated Translation Adjustment [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated Other Comprehensive Income (Loss), Net of Tax	(19,384)	(82,341)	(31,101)	(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	11,717	(21,326)
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax	0	0
Other Comprehensive Income (Loss), Net of Tax	11,717	(21,326)
Accumulated Gain (Loss), Net, Cash Flow Hedge, Parent [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated Other Comprehensive Income (Loss), Net of Tax	(277)	(2,978)	(1,479)	(1,222)
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax	5,934	(3,951)
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	(4,732)	2,195
Other Comprehensive Income (Loss), Net of Tax	1,202	(1,756)
Accumulated Defined Benefit Plans Adjustment [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated Other Comprehensive Income (Loss), Net of Tax	(282,931)	(260,286)	$ (302,345)	$ (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	9,147	(5,949)
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax	10,267	7,099
Other Comprehensive Income (Loss), Net of Tax	$ 19,414	$ 1,150

Other Comprehensive Income Deta

Other Comprehensive Income Details 2 - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Derivatives Arising During Period, before Tax	$ 3,419	$ 726	$ (5,758)	$ 2,560
Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Derivatives Arising During Period, Tax	684	179	(1,026)	365
Other Comprehensive Income (Loss), Reclassification Adjustment on Derivatives Included in Net Income, Net of Tax	2,735	547	(4,732)	2,195
Other Comprehensive Income (Loss), Pension and Other Postretirement Benefit Plans, Adjustment, before Tax, Portion Attributable to Parent	6,482	4,596	13,011	9,089
Other Comprehensive Income (Loss), Pension and Other Postretirement Benefit Plans, Tax, Portion Attributable to Parent	1,367	1,000	2,744	1,990
Other Comprehensive Income (Loss), Pension and Other Postretirement Benefit Plans, Adjustment, Net of Tax	5,115	3,596	10,267	7,099
Interest Rate Swap [Member]
Interest Rate Cash Flow Hedge Gain (Loss) Reclassified to Earnings, Net	543	692	1,074	940
Cross Currency Swap [Member]
Interest Rate Cash Flow Hedge Gain (Loss) Reclassified to Earnings, Net	2,876	$ 34	(6,832)	$ 1,620
Foreign Currency Transaction Gain (Loss), Unrealized	3,300		6,100
Interest Income, Other	$ 400		$ 800

Other Comprehensive Income De_2

Other Comprehensive Income Details 3 - USD ($) $ in Thousands	3 Months Ended				6 Months Ended
	Jun. 30, 2021	Mar. 31, 2021	Jun. 30, 2020	Mar. 31, 2020	Jun. 30, 2021	Jun. 30, 2020
Net earnings	$ 184,763	$ 149,663	$ 126,562	$ 98,115	$ 334,426	$ 224,677
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent	9,152	$ 23,181	2,096	$ (24,028)	32,333	(21,932)
Comprehensive Income, Net of Tax (Note 9)	$ 193,915		$ 128,658		$ 366,759	$ 202,745

Basis of Presentation

Basis of Presentation	6 Months Ended
	Jun. 30, 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 related analytical instruments and provides automated chemistry solutions used in drug and chemical compound discovery and development. In addition, the Company manufactures metal detection and other end-of-line inspection systems used in production and packaging and provides solutions for use in certain process analytics applications. The Company's primary manufacturing facilities are located in China, Germany, Switzerland, the United Kingdom and the United States. The Company's principal executive offices are located in Columbus, Ohio and Greifensee, Switzerland. The accompanying interim consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) and include all entities in which the Company has control, which are its wholly-owned subsidiaries. The interim consolidated financial statements have been prepared without audit, pursuant to the rules and regulations of the Securities and Exchange Commission. Certain information and footnote disclosures normally included in financial statements prepared in accordance with U.S. GAAP have been condensed or omitted pursuant to such rules and regulations. The interim consolidated financial statements should be read in conjunction with the consolidated financial statements and the notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 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 and six months ended June 30, 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 June 30, 2021 and through the date of this Report. Actual results may differ from those estimates due to the uncertainty around the magnitude and duration of the COVID-19 pandemic, as well as other factors. All intercompany transactions and balances have been eliminated.

Summary of Significant Accounti

Summary of Significant Accounting Policies	6 Months Ended
	Jun. 30, 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: June 30, December 31, Raw materials and parts $ 148,548 $ 132,041 Work-in-progress 66,077 55,688 Finished goods 135,534 109,882 $ 350,159 $ 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 of benefit. The straight-line method of amortization reflects an appropriate allocation of the cost of the intangible assets to earnings in proportion to the amount of economic benefits obtained by the Company in each reporting period. The Company assesses the initial acquisition of intangible assets in accordance with the provisions of ASC 805 "Business Combinations" and the continued accounting for previously recognized intangible assets and goodwill in accordance with the provisions of ASC 350 "Intangible - Goodwill and Other" and ASC 360 "Property, Plant and Equipment". Other intangible assets consisted of the following: June 30, 2021 December 31, 2020 Gross Accumulated Intangibles, Net Gross Accumulated Intangibles, Net Customer relationships $ 279,739 $ (73,733) $ 206,006 $ 201,445 $ (68,319) $ 133,126 Proven technology and patents 98,791 (53,728) 45,063 78,312 (52,138) 26,174 Tradenames (finite life) 8,228 (3,570) 4,658 4,896 (3,444) 1,452 Tradenames (indefinite life) 35,556 — 35,556 35,595 — 35,595 Other 8,061 (5,625) 2,436 5,215 (4,777) 438 $ 430,375 $ (136,656) $ 293,719 $ 325,463 $ (128,678) $ 196,785 The Company recognized amortization expense associated with the above intangible assets of $6.2 million and $3.9 million for the three months ended June 30, 2021 and 2020, respectively, and $10.2 million and $7.9 million for the six months ended June 30, 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, $20.4 million for 2023, $19.8 million for 2024, $18.9 million for 2025, and $16.6 million for 2026. Purchased intangible amortization was $5.9 million, $4.5 million after tax, and $3.7 million, $2.8 million after tax, for the three months ended June 30, 2021 and 2020, respectively, and $9.7 million, $7.3 million after tax, and $7.5 million, $5.6 million after tax, for the six months ended June 30, 2021 and 2020, respectively. In addition to the above amortization, the Company recorded amortization expense associated with capitalized software of $10.0 million and $9.9 million for the three months ended June 30, 2021 and 2020, respectively, and $19.8 million and $19.9 million for the six months ended June 30, 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 after the legal notification period, in which case the liability is recognized ratably over the future service period. Share-Based Compensation The Company recognizes share-based compensation expense within selling, general and administrative in the consolidated statements of operations and other comprehensive income with a corresponding offset to additional paid-in capital in the consolidated balance sheet. The Company recorded $4.6 million and $9.2 million of share-based compensation expense for the three and six months ended June 30, 2021, respectively, compared to $4.4 million and $8.8 million for the corresponding periods in 2020. On May 6, 2021, the Company's shareholders approved the adoption of the Company's 2013 Equity Incentive Plan (Amended and Restated), with the effect that approximately 0.9 million additional shares of common stock were added to the 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, are also 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. 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 judgment. 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 and January 2021, the FASB issued ASU 2020-04 and ASU 2021-01: 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 applied to any applicable contract entered into before December 31, 2022. The Company's interest rate and cross currency swaps, as mentioned in Note 5 to the consolidated financial statements, are governed by International Swaps and Derivatives Association ("ISDA") agreements, and the Company adheres to the ISDA's fallback protocol when LIBOR is discontinued. In addition, the

Revenue from Contracts with Cus

Revenue from Contracts with Customers (Notes)	6 Months Ended
	Jun. 30, 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 of revenue by the Company’s reportable segments for the three and six months ended June 30, 2021 and 2020 follows: For the three months ended June 30, 2021 U.S. Operations Swiss Operations Western European Operations Chinese Operations Other Operations Total Product Revenue $ 252,668 $ 32,018 $ 145,687 $ 188,803 $ 117,310 $ 736,486 Service Revenue: Point in time 54,493 6,534 37,089 12,633 29,711 140,460 Over time 16,149 2,284 18,946 4,085 5,941 47,405 Total $ 323,310 $ 40,836 $ 201,722 $ 205,521 $ 152,962 $ 924,351 For the three months ended June 30, 2020 U.S. Operations Swiss Operations Western European Operations Chinese Operations Other Operations Total Product Revenue $ 188,363 $ 22,012 $ 104,458 $ 128,151 $ 94,129 $ 537,113 Service Revenue: Point in time 46,342 4,726 27,945 9,784 23,490 112,287 Over time 14,635 2,210 16,648 2,972 4,808 41,273 Total $ 249,340 $ 28,948 $ 149,051 $ 140,907 $ 122,427 $ 690,673 For the six months ended June 30, 2021 U.S. Operations Swiss Operations Western European Operations Chinese Operations Other Operations Total Product Revenue $ 457,859 $ 62,185 $ 282,586 $ 332,128 $ 228,643 $ 1,363,401 Service Revenue: Point in time 106,084 13,425 72,719 21,975 57,588 271,791 Over time 31,326 4,507 38,767 7,492 11,457 93,549 Total $ 595,269 $ 80,117 $ 394,072 $ 361,595 $ 297,688 $ 1,728,741 For the six months ended June 30, 2020 U.S. Operations Swiss Operations Western European Operations Chinese Operations Other Operations Total Product Revenue $ 365,799 $ 46,288 $ 210,335 $ 218,472 $ 185,553 $ 1,026,447 Service Revenue: Point in time 96,577 10,282 59,336 16,890 49,166 232,251 Over time 28,374 4,274 32,705 6,144 9,640 81,137 Total $ 490,750 $ 60,844 $ 302,376 $ 241,506 $ 244,359 $ 1,339,835 A summary of revenue by major geographic destination for the three and six months ended June 30 follows: Three Months Ended Six Months Ended 2021 2020 2021 2020 Americas $ 353,415 $ 270,291 $ 656,754 $ 535,124 Europe 260,190 194,165 501,566 388,992 Asia / Rest of World 310,746 226,217 570,421 415,719 Total $ 924,351 $ 690,673 $ 1,728,741 $ 1,339,835 The Company's global revenue mix by product category is comprised of 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 summary of the Company’s revenue by product category for the three and six months ended June 30 is as follows: Three Months Ended Six Months Ended 2021 2020 2021 2020 Laboratory $ 506,106 $ 359,471 $ 950,732 $ 716,562 Industrial 368,013 288,824 678,791 541,179 Retail 50,232 42,378 99,218 82,094 Total $ 924,351 $ 690,673 $ 1,728,741 $ 1,339,835 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 June 30, 2021 and December 31, 2020 was $36.6 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 six month periods ending June 30, 2021 and 2020 are as follows: 2021 2020 Beginning balances as of January 1 $ 149,106 $ 122,489 Customer pre-payments/deferred revenue 323,654 278,015 Revenue recognized (278,817) (251,462) Foreign currency translation (1,744) 1,700 Ending balance as of June 30 $ 192,199 $ 150,742 The Company generally expenses sales commissions when incurred because the amortization period is one year or less. These costs are recorded within selling, general, and administrative expenses. The Company has not disclosed the value of unsatisfied performance obligations other than customer prepayments and deferred revenue above as most contracts have an expected length of one year or less and amounts greater than one year are immaterial.

Financial Instruments (Notes)

Financial Instruments (Notes)	6 Months Ended
	Jun. 30, 2021
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Instruments and Hedging Activities Disclosure [Text Block]	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 and cross currency 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 and cross currency 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 portion of the cash flow hedges, also see Note 6 and Note 10 to the interim consolidated financial statements. As also described 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 2021, 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 0.57%. The swap matures in June 2025. This cross currency swap replaced a similar $50 million swap entered into in June 2019 which matured in June 2021, which converted floating rate LIBOR to a fixed Swiss franc income of 0.95%. In June 2021, 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 0.66%. The swap matures in June 2024. This cross currency swap replaced a similar $50 million swap entered into in February 2019 which matured in June 2021, which converted floating rate LIBOR to a fixed Swiss franc income of 0.78%. 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 matures in June 2023. In 2015, the Company entered into an interest rate swap agreement designated as a cash flow hedge. The agreement has the effect of changing the floating rate LIBOR-based interest payments associated with $100 million of borrowings under the Company's credit agreement to a fixed obligation of 2.25% beginning in February 2017 and matures in February 2022. The Company's cash flow hedges are recorded gross at fair value in the consolidated balance sheet at June 30, 2021 and December 31, 2020, respectively. A derivative loss of $0.1 million based upon interest rates and foreign currency rates at June 30, 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 June 30, 2021. Other Derivatives

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Jun. 30, 2021
Fair Value Disclosures [Abstract]
FAIR VALUE MEASUREMENTS	FAIR VALUE MEASUREMENTSAt June 30, 2021 and December 31, 2020, the Company had derivative assets totaling $7.5 million and $2.2 million respectively, and derivative liabilities totaling $7.6 million and $23.3 million, respectively. The Company has limited involvement with derivative financial instruments and therefore does not need to present all the required disclosures in tabular format. The fair values of the interest rate swap agreements, the cross-currency swap agreements and foreign currency forward contracts that economically hedge short-term intercompany balances are estimated based upon inputs from current valuation information obtained from dealer quotes and priced with observable market assumptions and appropriate valuation adjustments for credit risk. The Company has evaluated the valuation methodologies used to develop the fair values by dealers in order to determine whether such valuations are representative of an exit price in the Company’s principal market. In addition, the Company uses an internally developed model to perform testing on the valuations received from brokers. The Company has also considered both its own credit risk and counterparty credit risk in determining fair value and determined these adjustments were insignificant at June 30, 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, that are measured at fair value on a recurring basis. 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. June 30, 2021 December 31, 2020 Balance Sheet Classification Foreign currency forward contracts not designated as hedging instruments $ 4,625 $ 2,227 Other current assets and prepaid expenses Cash Flow Hedges: Cross currency swap agreement 2,903 — Other non-current assets Total derivative assets $ 7,528 $ 2,227 Foreign currency forward contracts not designated as hedging instruments $ 2,373 $ 1,399 Accrued and other liabilities Cash Flow Hedges: Interest rate swap agreements 1,442 — Accrued and other liabilities Cross currency swap agreement — 13,093 Accrued and other liabilities Interest rate swap agreements — 2,502 Other non-current liabilities Cross currency swap agreement 3,735 6,297 Other non-current liabilities Total derivative liabilities $ 7,550 $ 23,291 The Company had $23.8 million and $14.3 million of cash equivalents at June 30, 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. The fair value of the Company's debt exceeds the carrying value by approximately $38.0 million as of June 30, 2021. The fair value of the Company's fixed interest rate debt was estimated using Level 2 inputs, primarily discounted cash flow models, based on estimated current rates offered for similar debt under current market conditions for the Company.

Income Taxes

Income Taxes	6 Months Ended
	Jun. 30, 2021
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXESThe Company's reported tax rate was 19.8% and 18.5% during the three months ended June 30, 2021 and 2020, respectively and 19.6% and 17.9% during the six months ended June 30, 2021 and 2020, respectively. The provision for taxes is based upon using the Company's projected annual effective tax rate of 19.5% and 20.5% 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 primarily related to the timing of excess tax benefits associated with stock option exercises.

Debt

Debt	6 Months Ended
	Jun. 30, 2021
Debt Disclosure [Abstract]
DEBT	DEBT Debt consisted of the following at June 30, 2021: U.S. Dollar Other Principal Trading Currencies 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 — 149,094 149,094 1.30% Euro 135 million fifteen-year Senior Notes due November 6, 2034 — 161,021 161,021 1.06% Euro 125 million fifteen-year Senior Notes due March 19, 2036 — 149,094 149,094 Debt issuance costs, net (1,590) (1,631) (3,221) Total Senior Notes 473,410 457,578 930,988 $1.25 billion Credit Agreement, interest at LIBOR plus 87.5 basis points 512,501 155,140 667,641 Other local arrangements 3,574 52,827 56,401 Total debt 989,485 665,545 1,655,030 Less: current portion (349) (52,676) (53,025) Total long-term debt $ 989,136 $ 612,869 $ 1,602,005 Credit Agreement On June 25, 2021, the Company entered into a $1.25 billion Credit Agreement ("the Credit Agreement"), which amended its $1.1 billion Amended and Restated Credit Agreement (the "Prior Credit Agreement"). As of June 30, 2021, the Company had $576.3 million of additional borrowings available under its Credit Agreement, and the Company maintained $142.3 million of cash and cash equivalents. The Credit Agreement is provided by a group of financial institutions (similar to the Company's Prior Credit Agreement) and has a maturity date of June 25, 2026. It is a revolving credit facility and is not subject to any scheduled principal payments prior to maturity. The obligations under the Credit Agreement are unsecured. Borrowings under the Credit Agreement bear interest at current market rates plus a margin based on the Company’s consolidated leverage ratio. The Company must also pay facility fees that are tied to its leverage ratio. The Credit Agreement contains covenants that are similar as those contained in the prior Credit Agreement, with which the Company was in compliance as of June 30, 2021. The Company is required to maintain (i) a ratio of net funded indebtedness to EBITDA of 3.5 to 1.0 or less except that the required maximum ratio may increase to 4.0 to 1.0 for the four consecutive fiscal quarter period commencing with the fiscal quarter in which an acquisition having total consideration (including, without limitation, all cash payments, assumed indebtedness, issued equity interests and earn outs in connection with such acquisition) greater than $250 million and (ii) an interest coverage ratio of 3.0 to 1.0 or greater. The Credit Agreement also places certain limitations on the Company, including limiting the ability to incur liens or indebtedness at a subsidiary level. In addition, the Credit Agreement has several events of default. The Company incurred approximately $0.2 million of debt extinguishment costs during 2021 related to the Prior Credit Agreement. The Company capitalized $2.0 million in financing fees during 2021 associated with the Credit Agreement which will be amortized to interest expense through 2026. Senior Notes In May 2021, the Company entered into an agreement to issue and sell $125 million twelve-year Senior Notes with a fixed interest rate of 2.83%. The Senior Notes will be issued in July 2021 and will mature July 2033. The terms of the Senior Notes are consistent with the previous Senior Notes as described above. The Company used the proceeds from the sale of the notes to refinance existing indebtedness and for other general corporate purposes. 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 June 30, 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% Euro Senior Notes as a hedge of a portion of its net investment in euro-denominated foreign subsidiaries to reduce foreign currency risk associated with the net investment. 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 loss of $5.8 million and $2.1 million for the three months ended June 30, 2021 and 2020, respectively, and an unrealized gain of $11.8 million and an unrealized loss of $0.1 million for the six month periods ended June 30, 2021 and 2020, respectively. The Company has a loss of $17.0 million recorded in accumulated other comprehensive income (loss) as of June 30, 2021. Other Local Arrangements

Share Repurchase Program and Tr

Share Repurchase Program and Treasury Stock	6 Months Ended
	Jun. 30, 2021
Equity [Abstract]
SHARE REPURCHASE PROGRAM AND TREASURY STOCK	SHARE REPURCHASE PROGRAM AND TREASURY STOCK In November 2020, the Company's Board of Directors authorized an additional $2.5 billion to be added to its share repurchase program, which has $2.6 billion of remaining availability as of June 30, 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 p urchases will depend on business and market conditions, the stock price, trading restrictions, the level of acquisition activity and other factors.

Earnings Per Common Share

Earnings Per Common Share	6 Months Ended
	Jun. 30, 2021
Earnings Per Share [Abstract]
EARNINGS PER COMMON SHARE	EARNINGS PER COMMON SHARE In accordance with the treasury stock method, the Company has included the following common equivalent shares in the calculation of diluted weighted average number of common shares outstanding for the three and six months ended June 30, relating to outstanding stock options and restricted stock units: 2021 2020 Three months ended 330,638 288,711 Six months ended 326,169 307,265

Net Periodic Benefit Cost

Net Periodic Benefit Cost	6 Months Ended
	Jun. 30, 2021
Retirement Benefits [Abstract]
NET PERIODIC BENEFIT COST	NET PERIODIC PENSION COST Net periodic pension cost for the Company’s defined benefit pension plans and U.S. post-retirement medical plan includes the following components for the three months ended June 30: U.S. Pension Benefits Non-U.S. Pension Benefits Other U.S. Post-retirement Benefits Total 2021 2020 2021 2020 2021 2020 2021 2020 Service cost, net $ 374 $ 326 $ 4,907 $ 4,528 $ — $ — $ 5,281 $ 4,854 Interest cost on projected benefit obligations 549 889 858 1,097 2 7 1,409 1,993 Expected return on plan assets (1,494) (1,524) (8,904) (8,017) — — (10,398) (9,541) Recognition of prior service cost — — (465) (1,735) (19) (19) (484) (1,754) Recognition of actuarial losses/(gains) 729 645 6,246 5,712 (9) (7) 6,966 6,350 Net periodic pension cost/(credit) $ 158 $ 336 $ 2,642 $ 1,585 $ (26) $ (19) $ 2,774 $ 1,902 Net periodic pension cost for the Company’s defined benefit pension plans and U.S. post-retirement medical plan includes the following components for the six months ended June 30: U.S. Pension Benefits Non-U.S. Pension Benefits Other U.S. Post-retirement Benefits Total 2021 2020 2021 2020 2021 2020 2021 2020 Service cost, net $ 748 $ 652 $ 9,852 $ 9,045 $ — $ — $ 10,600 $ 9,697 Interest cost on projected benefit obligations 1,098 1,778 1,708 2,332 4 14 2,810 4,124 Expected return on plan assets (2,988) (3,048) (17,875) (16,104) — — (20,863) (19,152) Recognition of prior service cost — — (936) (3,460) (38) (38) (974) (3,498) Recognition of actuarial losses/(gains) 1,458 1,290 12,545 11,311 (18) (14) 13,985 12,587 Net periodic pension cost/(credit) $ 316 $ 672 $ 5,294 $ 3,124 $ (52) $ (38) $ 5,558 $ 3,758 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

Restructuring Charges

Restructuring Charges	6 Months Ended
	Jun. 30, 2021
Restructuring and Related Activities [Abstract]
RESTRUCTURING CHARGES	RESTRUCTURING CHARGES For the three and six months ended June 30, 2021, the Company has incurred $0.9 million and $2.1 million of restructuring expenses, respectively, which primarily relates to 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 six months ended June 30, 2021 is as follows: Total Balance at December 31, 2020 $ 9,184 Restructuring charges 2,069 Cash payments and utilization (5,548) Impact of foreign currency (210) Balance at June 30, 2021 $ 5,495

Other Charges (Income), Net

Other Charges (Income), Net	6 Months Ended
	Jun. 30, 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 June 30, 2021 and 2020 were $2.5 million and $3.0 million, respectively, and $5.0 million and $5.9 million for the six months ended June 30, 2021 and 2020, respectively.

Segment Reporting

Segment Reporting	6 Months Ended
	Jun. 30, 2021
Segment Reporting [Abstract]
SEGMENT REPORTING	15. SEGMENT REPORTING As 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 operating segments: Net Sales to Net Sales to As of June 30, For the three months ended External Other Total Net Segment 2021 June 30, 2021 Customers Segments Sales Profit Goodwill U.S. Operations $ 323,310 $ 38,507 $ 361,817 $ 79,272 $ 509,600 Swiss Operations 40,836 201,182 242,018 69,516 23,553 Western European Operations 201,722 55,873 257,595 38,476 93,133 Chinese Operations 205,521 72,529 278,050 94,663 697 Other (a) 152,962 1,275 154,237 21,414 15,203 Eliminations and Corporate (b) — (369,366) (369,366) (48,085) — Total $ 924,351 $ — $ 924,351 $ 255,256 $ 642,186 Net Sales to Net Sales to For the six months ended External Other Total Net Segment June 30, 2021 Customers Segments Sales Profit U.S. Operations $ 595,269 $ 75,292 $ 670,561 $ 142,943 Swiss Operations 80,117 385,647 465,764 134,395 Western European Operations 394,072 108,128 502,200 76,342 Chinese Operations 361,595 141,607 503,202 166,687 Other (a) 297,688 2,371 300,059 41,586 Eliminations and Corporate (b) — (713,045) (713,045) (96,025) Total $ 1,728,741 $ — $ 1,728,741 $ 465,928 (a) Other includes reporting units in Eastern Europe, Latin America, Southeast Asia and other countries. (b) Eliminations and Corporate includes the elimination of inter-segment transactions and certain corporate expenses and intercompany investments, which are not included in the Company’s operating segments. Net Sales to Net Sales to As of June 30, For the three months ended External Other Total Net Segment 2020 June 30, 2020 Customers Segments Sales Profit Goodwill U.S. Operations $ 249,340 $ 27,515 $ 276,855 $ 52,581 $ 414,370 Swiss Operations 28,948 142,487 171,435 48,248 22,830 Western European Operations 149,051 39,699 188,750 30,345 84,975 Chinese Operations 140,907 45,731 186,638 63,955 621 Other (a) 122,427 875 123,302 13,122 14,828 Eliminations and Corporate (b) — (256,307) (256,307) (31,608) — Total $ 690,673 $ — $ 690,673 $ 176,643 $ 537,624 Net Sales to Net Sales to For the six months ended External Other Total Net Segment June 30, 2020 Customers Segments Sales Profit U.S. Operations $ 490,750 $ 53,904 $ 544,654 $ 97,519 Swiss Operations 60,844 295,336 356,180 102,158 Western European Operations 302,376 81,413 383,789 54,452 Chinese Operations 241,506 94,480 335,986 109,505 Other (a) 244,359 1,771 246,130 24,148 Eliminations and Corporate (b) — (526,904) (526,904) (69,861) Total $ 1,339,835 $ — $ 1,339,835 $ 317,921 (a) Other includes reporting units in Eastern Europe, Latin America, Southeast Asia and other countries. (b) Eliminations and Corporate includes the elimination of inter-segment transactions and certain corporate expenses and intercompany investments, which are not included in the Company’s operating segments. A reconciliation of earnings before taxes to segment profit for the three and six month periods ended June 30 follows: Three Months Ended Six Months Ended 2021 2020 2021 2020 Earnings before taxes $ 230,384 $ 155,255 $ 415,798 $ 273,754 Amortization 16,218 13,889 30,102 27,887 Interest expense 10,439 9,582 19,910 19,801 Restructuring charges 876 860 2,069 2,765 Other income, net (2,661) (2,943) (1,951) (6,286) Segment profit $ 255,256 $ 176,643 $ 465,928 $ 317,921 During the three months ended June 30, 2021, restructuring charges of $0.9 million were recognized, of which $0.1 million, $0.1 million, $0.6 million, and $0.1 million related to the Company’s U.S., Swiss, Western European, and Other Operations, respectively. Restructuring charges of $0.9 million were recognized during the three months ended June 30, 2020, of which $0.3 million, $0.3 million, $0.1 million, and $0.2 million related to the Company’s U.S., Western European, Chinese, and Other Operations, respectively. Restructuring charges of $2.1 million were recognized during the six months ended June 30, 2021, of which $0.4 million, $0.3 million, $1.1 million, and $0.3 million related to the Company’s U.S., Swiss, Western European, and Other Operations, respectively. Restructuring charges of $2.8 million were recognized during the six months ended June 30, 2020, of which $0.6 million, $0.7 million, $1.1 million, $0.1 million, and $0.3 million and related to the Company’s U.S., Swiss, Western European, Chinese, and Other Operations, respectively.

Contingencies

Contingencies	6 Months Ended
	Jun. 30, 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)	6 Months Ended
	Jun. 30, 2021
Accounting Policies [Abstract]
Trade Accounts Receivable	Trade Accounts Receivable Trade accounts receivable are recorded at the invoiced amount and do not bear interest. The allowance for 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 Inventories are valued at the lower of cost or net realizable value. Cost, which includes direct materials, labor and overhead, is generally determined using the first in, first out (FIFO) method. The estimated net realizable value is based on assumptions for future demand and related pricing. Adjustments to the cost basis of the Company’s inventory are made for excess and obsolete items based on usage, orders and technological obsolescence. If actual market conditions are less favorable than those projected by management, reductions in the value of inventory may be required. Inventories consisted of the following: June 30, December 31, Raw materials and parts $ 148,548 $ 132,041 Work-in-progress 66,077 55,688 Finished goods 135,534 109,882 $ 350,159 $ 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 of benefit. The straight-line method of amortization reflects an appropriate allocation of the cost of the intangible assets to earnings in proportion to the amount of economic benefits obtained by the Company in each reporting period. The Company assesses the initial acquisition of intangible assets in accordance with the provisions of ASC 805 "Business Combinations" and the continued accounting for previously recognized intangible assets and goodwill in accordance with the provisions of ASC 350 "Intangible - Goodwill and Other" and ASC 360 "Property, Plant and Equipment". Other intangible assets consisted of the following: June 30, 2021 December 31, 2020 Gross Accumulated Intangibles, Net Gross Accumulated Intangibles, Net Customer relationships $ 279,739 $ (73,733) $ 206,006 $ 201,445 $ (68,319) $ 133,126 Proven technology and patents 98,791 (53,728) 45,063 78,312 (52,138) 26,174 Tradenames (finite life) 8,228 (3,570) 4,658 4,896 (3,444) 1,452 Tradenames (indefinite life) 35,556 — 35,556 35,595 — 35,595 Other 8,061 (5,625) 2,436 5,215 (4,777) 438 $ 430,375 $ (136,656) $ 293,719 $ 325,463 $ (128,678) $ 196,785 The Company recognized amortization expense associated with the above intangible assets of $6.2 million and $3.9 million for the three months ended June 30, 2021 and 2020, respectively, and $10.2 million and $7.9 million for the six months ended June 30, 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, $20.4 million for 2023, $19.8 million for 2024, $18.9 million for 2025, and $16.6 million for 2026. Purchased intangible amortization was $5.9 million, $4.5 million after tax, and $3.7 million, $2.8 million after tax, for the three months ended June 30, 2021 and 2020, respectively, and $9.7 million, $7.3 million after tax, and $7.5 million, $5.6 million after tax, for the six months ended June 30, 2021 and 2020, respectively. In addition to the above amortization, the Company recorded amortization expense associated with capitalized software of $10.0 million and $9.9 million for the three months ended June 30, 2021 and 2020, respectively, and $19.8 million and $19.9 million for the six months ended June 30, 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 after the legal notification period, in which case the liability is recognized ratably over the future service period.
Share - Based Compensation	Share-Based Compensation The Company recognizes share-based compensation expense within selling, general and administrative in the consolidated statements of operations and other comprehensive income with a corresponding offset to additional paid-in capital in the consolidated balance sheet. The Company recorded $4.6 million and $9.2 million of share-based compensation expense for the three and six months ended June 30, 2021, respectively, compared to $4.4 million and $8.8 million for the corresponding periods in 2020. On May 6, 2021, the Company's shareholders approved the adoption of the Company's 2013 Equity Incentive Plan (Amended and Restated), with the effect that approximately 0.9 million additional shares of common stock were added to the 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, are also available for awards under the amended plan. The amended plan expires in 2031.
Research and Development	Research and Development Research and development costs primarily consist of salaries, consulting and other costs. The Company expenses these costs as incurred.
Business Combinations Policy [Policy Text Block]	Business Combinations and Asset Acquisitions The Company accounts for business acquisitions under the accounting standards for business combinations. The results of each acquisition are included in the Company's consolidated results as of the acquisition date. 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 judgment. 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 and January 2021, the FASB issued ASU 2020-04 and ASU 2021-01: 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 applied to any applicable contract entered into before December 31, 2022. The Company's interest rate and cross currency swaps, as mentioned in Note 5 to the consolidated financial statements, are governed by International Swaps and Derivatives Association ("ISDA") agreements, and the Company adheres to the ISDA's fallback protocol when LIBOR is discontinued. In addition, the

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	6 Months Ended
	Jun. 30, 2021
Accounting Policies [Abstract]
Components of inventories	Inventories consisted of the following: June 30, December 31, Raw materials and parts $ 148,548 $ 132,041 Work-in-progress 66,077 55,688 Finished goods 135,534 109,882 $ 350,159 $ 297,611
Components of other intangible assets	Other intangible assets consisted of the following: June 30, 2021 December 31, 2020 Gross Accumulated Intangibles, Net Gross Accumulated Intangibles, Net Customer relationships $ 279,739 $ (73,733) $ 206,006 $ 201,445 $ (68,319) $ 133,126 Proven technology and patents 98,791 (53,728) 45,063 78,312 (52,138) 26,174 Tradenames (finite life) 8,228 (3,570) 4,658 4,896 (3,444) 1,452 Tradenames (indefinite life) 35,556 — 35,556 35,595 — 35,595 Other 8,061 (5,625) 2,436 5,215 (4,777) 438 $ 430,375 $ (136,656) $ 293,719 $ 325,463 $ (128,678) $ 196,785

Revenue from Contracts with C_2

Revenue from Contracts with Customers (Tables)	6 Months Ended
	Jun. 30, 2021
Revenue from Contract with Customer [Abstract]
Disaggregation of Revenue [Table Text Block]	For the three months ended June 30, 2021 U.S. Operations Swiss Operations Western European Operations Chinese Operations Other Operations Total Product Revenue $ 252,668 $ 32,018 $ 145,687 $ 188,803 $ 117,310 $ 736,486 Service Revenue: Point in time 54,493 6,534 37,089 12,633 29,711 140,460 Over time 16,149 2,284 18,946 4,085 5,941 47,405 Total $ 323,310 $ 40,836 $ 201,722 $ 205,521 $ 152,962 $ 924,351 For the three months ended June 30, 2020 U.S. Operations Swiss Operations Western European Operations Chinese Operations Other Operations Total Product Revenue $ 188,363 $ 22,012 $ 104,458 $ 128,151 $ 94,129 $ 537,113 Service Revenue: Point in time 46,342 4,726 27,945 9,784 23,490 112,287 Over time 14,635 2,210 16,648 2,972 4,808 41,273 Total $ 249,340 $ 28,948 $ 149,051 $ 140,907 $ 122,427 $ 690,673 For the six months ended June 30, 2021 U.S. Operations Swiss Operations Western European Operations Chinese Operations Other Operations Total Product Revenue $ 457,859 $ 62,185 $ 282,586 $ 332,128 $ 228,643 $ 1,363,401 Service Revenue: Point in time 106,084 13,425 72,719 21,975 57,588 271,791 Over time 31,326 4,507 38,767 7,492 11,457 93,549 Total $ 595,269 $ 80,117 $ 394,072 $ 361,595 $ 297,688 $ 1,728,741 For the six months ended June 30, 2020 U.S. Operations Swiss Operations Western European Operations Chinese Operations Other Operations Total Product Revenue $ 365,799 $ 46,288 $ 210,335 $ 218,472 $ 185,553 $ 1,026,447 Service Revenue: Point in time 96,577 10,282 59,336 16,890 49,166 232,251 Over time 28,374 4,274 32,705 6,144 9,640 81,137 Total $ 490,750 $ 60,844 $ 302,376 $ 241,506 $ 244,359 $ 1,339,835 A summary of revenue by major geographic destination for the three and six months ended June 30 follows: Three Months Ended Six Months Ended 2021 2020 2021 2020 Americas $ 353,415 $ 270,291 $ 656,754 $ 535,124 Europe 260,190 194,165 501,566 388,992 Asia / Rest of World 310,746 226,217 570,421 415,719 Total $ 924,351 $ 690,673 $ 1,728,741 $ 1,339,835 The Company's global revenue mix by product category is comprised of 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 summary of the Company’s revenue by product category for the three and six months ended June 30 is as follows: Three Months Ended Six Months Ended 2021 2020 2021 2020 Laboratory $ 506,106 $ 359,471 $ 950,732 $ 716,562 Industrial 368,013 288,824 678,791 541,179 Retail 50,232 42,378 99,218 82,094 Total $ 924,351 $ 690,673 $ 1,728,741 $ 1,339,835
Contract with Customer, Contract Asset, Contract Liability, and Receivable [Table Text Block]	2021 2020 Beginning balances as of January 1 $ 149,106 $ 122,489 Customer pre-payments/deferred revenue 323,654 278,015 Revenue recognized (278,817) (251,462) Foreign currency translation (1,744) 1,700 Ending balance as of June 30 $ 192,199 $ 150,742

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
	Jun. 30, 2021
Fair Value Disclosures [Abstract]
Assets and liabilities measured at fair value on a recurring basis	June 30, 2021 December 31, 2020 Balance Sheet Classification Foreign currency forward contracts not designated as hedging instruments $ 4,625 $ 2,227 Other current assets and prepaid expenses Cash Flow Hedges: Cross currency swap agreement 2,903 — Other non-current assets Total derivative assets $ 7,528 $ 2,227 Foreign currency forward contracts not designated as hedging instruments $ 2,373 $ 1,399 Accrued and other liabilities Cash Flow Hedges: Interest rate swap agreements 1,442 — Accrued and other liabilities Cross currency swap agreement — 13,093 Accrued and other liabilities Interest rate swap agreements — 2,502 Other non-current liabilities Cross currency swap agreement 3,735 6,297 Other non-current liabilities Total derivative liabilities $ 7,550 $ 23,291

Debt (Tables)

Debt (Tables)	6 Months Ended
	Jun. 30, 2021
Debt Disclosure [Abstract]
Debt	Debt consisted of the following at June 30, 2021:

Net Periodic Benefit Cost (Tabl

Net Periodic Benefit Cost (Tables)	6 Months Ended
	Jun. 30, 2021
Retirement Benefits [Abstract]
Schedule of Net Benefit Costs [Table Text Block]	Net periodic pension cost for the Company’s defined benefit pension plans and U.S. post-retirement medical plan includes the following components for the three months ended June 30: U.S. Pension Benefits Non-U.S. Pension Benefits Other U.S. Post-retirement Benefits Total 2021 2020 2021 2020 2021 2020 2021 2020 Service cost, net $ 374 $ 326 $ 4,907 $ 4,528 $ — $ — $ 5,281 $ 4,854 Interest cost on projected benefit obligations 549 889 858 1,097 2 7 1,409 1,993 Expected return on plan assets (1,494) (1,524) (8,904) (8,017) — — (10,398) (9,541) Recognition of prior service cost — — (465) (1,735) (19) (19) (484) (1,754) Recognition of actuarial losses/(gains) 729 645 6,246 5,712 (9) (7) 6,966 6,350 Net periodic pension cost/(credit) $ 158 $ 336 $ 2,642 $ 1,585 $ (26) $ (19) $ 2,774 $ 1,902 Net periodic pension cost for the Company’s defined benefit pension plans and U.S. post-retirement medical plan includes the following components for the six months ended June 30: U.S. Pension Benefits Non-U.S. Pension Benefits Other U.S. Post-retirement Benefits Total 2021 2020 2021 2020 2021 2020 2021 2020 Service cost, net $ 748 $ 652 $ 9,852 $ 9,045 $ — $ — $ 10,600 $ 9,697 Interest cost on projected benefit obligations 1,098 1,778 1,708 2,332 4 14 2,810 4,124 Expected return on plan assets (2,988) (3,048) (17,875) (16,104) — — (20,863) (19,152) Recognition of prior service cost — — (936) (3,460) (38) (38) (974) (3,498) Recognition of actuarial losses/(gains) 1,458 1,290 12,545 11,311 (18) (14) 13,985 12,587 Net periodic pension cost/(credit) $ 316 $ 672 $ 5,294 $ 3,124 $ (52) $ (38) $ 5,558 $ 3,758

Restructuring Charges (Tables)

Restructuring Charges (Tables)	6 Months Ended
	Jun. 30, 2021
Restructuring Cost and Reserve [Line Items]
Company's accrual for restructuring activities	A roll forward of the Company’s accrual for restructuring activities for the six months ended June 30, 2021 is as follows: Total Balance at December 31, 2020 $ 9,184 Restructuring charges 2,069 Cash payments and utilization (5,548) Impact of foreign currency (210) Balance at June 30, 2021 $ 5,495

Segment Reporting (Tables)

Segment Reporting (Tables)	6 Months Ended
	Jun. 30, 2021
Operations of the Company's operating segments	The following tables show the operations of the Company’s operating segments: Net Sales to Net Sales to As of June 30, For the three months ended External Other Total Net Segment 2021 June 30, 2021 Customers Segments Sales Profit Goodwill U.S. Operations $ 323,310 $ 38,507 $ 361,817 $ 79,272 $ 509,600 Swiss Operations 40,836 201,182 242,018 69,516 23,553 Western European Operations 201,722 55,873 257,595 38,476 93,133 Chinese Operations 205,521 72,529 278,050 94,663 697 Other (a) 152,962 1,275 154,237 21,414 15,203 Eliminations and Corporate (b) — (369,366) (369,366) (48,085) — Total $ 924,351 $ — $ 924,351 $ 255,256 $ 642,186 Net Sales to Net Sales to For the six months ended External Other Total Net Segment June 30, 2021 Customers Segments Sales Profit U.S. Operations $ 595,269 $ 75,292 $ 670,561 $ 142,943 Swiss Operations 80,117 385,647 465,764 134,395 Western European Operations 394,072 108,128 502,200 76,342 Chinese Operations 361,595 141,607 503,202 166,687 Other (a) 297,688 2,371 300,059 41,586 Eliminations and Corporate (b) — (713,045) (713,045) (96,025) Total $ 1,728,741 $ — $ 1,728,741 $ 465,928 (a) Other includes reporting units in Eastern Europe, Latin America, Southeast Asia and other countries. (b) Eliminations and Corporate includes the elimination of inter-segment transactions and certain corporate expenses and intercompany investments, which are not included in the Company’s operating segments. Net Sales to Net Sales to As of June 30, For the three months ended External Other Total Net Segment 2020 June 30, 2020 Customers Segments Sales Profit Goodwill U.S. Operations $ 249,340 $ 27,515 $ 276,855 $ 52,581 $ 414,370 Swiss Operations 28,948 142,487 171,435 48,248 22,830 Western European Operations 149,051 39,699 188,750 30,345 84,975 Chinese Operations 140,907 45,731 186,638 63,955 621 Other (a) 122,427 875 123,302 13,122 14,828 Eliminations and Corporate (b) — (256,307) (256,307) (31,608) — Total $ 690,673 $ — $ 690,673 $ 176,643 $ 537,624 Net Sales to Net Sales to For the six months ended External Other Total Net Segment June 30, 2020 Customers Segments Sales Profit U.S. Operations $ 490,750 $ 53,904 $ 544,654 $ 97,519 Swiss Operations 60,844 295,336 356,180 102,158 Western European Operations 302,376 81,413 383,789 54,452 Chinese Operations 241,506 94,480 335,986 109,505 Other (a) 244,359 1,771 246,130 24,148 Eliminations and Corporate (b) — (526,904) (526,904) (69,861) Total $ 1,339,835 $ — $ 1,339,835 $ 317,921 (a) Other includes reporting units in Eastern Europe, Latin America, Southeast Asia and other countries. (b) Eliminations and Corporate includes the elimination of inter-segment transactions and certain corporate expenses and intercompany investments, which are not included in the Company’s operating segments.
Reconciliation of earnings before taxes to segment profit	A reconciliation of earnings before taxes to segment profit for the three and six month periods ended June 30 follows: Three Months Ended Six Months Ended 2021 2020 2021 2020 Earnings before taxes $ 230,384 $ 155,255 $ 415,798 $ 273,754 Amortization 16,218 13,889 30,102 27,887 Interest expense 10,439 9,582 19,910 19,801 Restructuring charges 876 860 2,069 2,765 Other income, net (2,661) (2,943) (1,951) (6,286) Segment profit $ 255,256 $ 176,643 $ 465,928 $ 317,921

Summary of Significant Accoun_4

Summary of Significant Accounting Policies (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Components of inventory
Raw materials and parts	$ 148,548	$ 132,041
Work-in-progress	66,077	55,688
Finished goods	135,534	109,882
Total Inventory, Net	$ 350,159	$ 297,611

Summary of Significant Accoun_5

Summary of Significant Accounting Policies (Details 1) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Intangible Assets [Line Items]
Intangible Assets, Gross (Excluding Goodwill)	$ 430,375	$ 325,463
Accumulated Amortization	(136,656)	(128,678)
Intangible Assets, Net (Excluding Goodwill)	293,719	196,785
Tradename (indefinite life) [Member]
Intangible Assets [Line Items]
Gross amount, Tradename (indefinite life)	35,556	35,595
Intangible Assets, Net (Excluding Goodwill)	35,556	35,595
Customer Relationships [Member]
Intangible Assets [Line Items]
Gross amount	279,739	201,445
Accumulated Amortization	(73,733)	(68,319)
Intangible Assets, Net (Excluding Goodwill)	206,006	133,126
Proven technology and patents [Member]
Intangible Assets [Line Items]
Gross amount	98,791	78,312
Accumulated Amortization	(53,728)	(52,138)
Intangible Assets, Net (Excluding Goodwill)	45,063	26,174
Tradename (indefinite life) [Member]
Intangible Assets [Line Items]
Gross amount	8,228	4,896
Accumulated Amortization	(3,570)	(3,444)
Intangible Assets, Net (Excluding Goodwill)	4,658	1,452
Other Intangible Assets [Member]
Intangible Assets [Line Items]
Gross amount	8,061	5,215
Accumulated Amortization	(5,625)	(4,777)
Intangible Assets, Net (Excluding Goodwill)	$ 2,436	$ 438

Summary of Significant Accoun_6

Summary of Significant Accounting Policies (Details Textuals) - USD ($) shares in Thousands, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020	May 06, 2021
Summary of Significant Accounting Policies (Textuals) [Abstract]
Amortization expense	$ 6.2	$ 3.9	$ 10.2	$ 7.9
Future Amortization Expense Current Year			21.6
Aggregate amortization expense for 2020	21.1		21.1
Aggregate amortization expense for 2021	20.4		20.4
Aggregate amortization expense for 2023	19.8		19.8
Aggregate amortization expense for 2024	18.9		18.9
Aggregate amortization expense for 2025	16.6		16.6
Purchased Intangible Amortization, Gross	5.9	3.7	9.7	7.5
Purchased intangible amortization, net of tax	4.5	2.8	7.3	5.6
Amortization expense associated with capitalized software	10	9.9	19.8	19.9
Share - based compensation expense	$ 4.6	$ 4.4	$ 9.2	$ 8.8
Additional Shares Issued under Equity Incentive Plan					900
Shares Remaining Under Equity Incentive Plan Prior to Amendment					2,100

Business Combinations and Asset

Business Combinations and Asset Acquisitions (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020	Mar. 24, 2021
Business Acquisition [Line Items]
Amortization of Intangible Assets	$ 6.2	$ 3.9	$ 10.2	$ 7.9
PendoTECH Acquisition [Member]
Business Acquisition [Line Items]
Business Combination Disclosure			4. ACQUISITIONS 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.
Business Combination, Consideration Transferred			$ 185
Business Combination, Contingent Consideration Arrangements, Range of Outcomes, Value, High					$ 20
Business Combination, Contingent Consideration, Liability					13.5
Goodwill, Acquired During Period			$ 93.7
Minimum useful lives			5 years
Maximum Useful Lives			20 years
Amortization of Intangible Assets			$ 6.9
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net					$ 7.4
Customer Relationships [Member] | PendoTECH Acquisition [Member]
Business Acquisition [Line Items]
Finite-lived Intangible Assets Acquired			78.6
Tradename (indefinite life) [Member] | PendoTECH Acquisition [Member]
Business Acquisition [Line Items]
Finite-lived Intangible Assets Acquired			3.4
Other Intangible Assets [Member] | PendoTECH Acquisition [Member]
Business Acquisition [Line Items]
Finite-lived Intangible Assets Acquired			2.4
Technology-Based Intangible Assets [Member] | PendoTECH Acquisition [Member]
Business Acquisition [Line Items]
Finite-lived Intangible Assets Acquired			$ 21.7

Revenue from Contracts with C_3

Revenue from Contracts with Customers (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2020
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	$ 924,351	$ 690,673	$ 1,728,741	$ 1,339,835
Contract with Customer, Asset, after Allowance for Credit Loss	36,600		36,600		$ 22,600
Americas [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	353,415	270,291	656,754	535,124
Europe [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	260,190	194,165	501,566	388,992
Asia [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	310,746	226,217	570,421	415,719
Product [Member] | Transferred at Point in Time [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	736,486	537,113	1,363,401	1,026,447
Service [Member] | Transferred at Point in Time [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	140,460	112,287	271,791	232,251
Service [Member] | Transferred over Time [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	$ 47,405	41,273	$ 93,549	81,137
Laboratory products and services [Member]
Disaggregation of Revenue [Line Items]
Percentage of Disaggregated Revenue in Relationship to Segments	55.00%		55.00%
Revenue from Contract with Customer, Excluding Assessed Tax	$ 506,106	359,471	$ 950,732	716,562
Industrial products and services [Member]
Disaggregation of Revenue [Line Items]
Percentage of Disaggregated Revenue in Relationship to Segments	39.00%		39.00%
Revenue from Contract with Customer, Excluding Assessed Tax	$ 368,013	288,824	$ 678,791	541,179
Retail products and services [Member]
Disaggregation of Revenue [Line Items]
Percentage of Disaggregated Revenue in Relationship to Segments	6.00%		6.00%
Revenue from Contract with Customer, Excluding Assessed Tax	$ 50,232	42,378	$ 99,218	82,094
US Operations [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	323,310	249,340	595,269	490,750
US Operations [Member] | Product [Member] | Transferred at Point in Time [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	252,668	188,363	457,859	365,799
US Operations [Member] | Service [Member] | Transferred at Point in Time [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	54,493	46,342	106,084	96,577
US Operations [Member] | Service [Member] | Transferred over Time [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	16,149	14,635	31,326	28,374
Swiss Operations [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	40,836	28,948	80,117	60,844
Swiss Operations [Member] | Product [Member] | Transferred at Point in Time [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	32,018	22,012	62,185	46,288
Swiss Operations [Member] | Service [Member] | Transferred at Point in Time [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	6,534	4,726	13,425	10,282
Swiss Operations [Member] | Service [Member] | Transferred over Time [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	2,284	2,210	4,507	4,274
Western European Operations [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	201,722	149,051	394,072	302,376
Western European Operations [Member] | Product [Member] | Transferred at Point in Time [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	145,687	104,458	282,586	210,335
Western European Operations [Member] | Service [Member] | Transferred at Point in Time [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	37,089	27,945	72,719	59,336
Western European Operations [Member] | Service [Member] | Transferred over Time [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	18,946	16,648	38,767	32,705
Chinese Operations [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	205,521	140,907	361,595	241,506
Chinese Operations [Member] | Product [Member] | Transferred at Point in Time [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	188,803	128,151	332,128	218,472
Chinese Operations [Member] | Service [Member] | Transferred at Point in Time [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	12,633	9,784	21,975	16,890
Chinese Operations [Member] | Service [Member] | Transferred over Time [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	4,085	2,972	7,492	6,144
Other Operations [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	152,962	122,427	297,688	244,359
Other Operations [Member] | Product [Member] | Transferred at Point in Time [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	117,310	94,129	228,643	185,553
Other Operations [Member] | Service [Member] | Transferred at Point in Time [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	29,711	23,490	57,588	49,166
Other Operations [Member] | Service [Member] | Transferred over Time [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	$ 5,941	$ 4,808	$ 11,457	$ 9,640

Revenue from Contracts with C_4

Revenue from Contracts with Customers 2 (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2020	Mar. 31, 2020	Dec. 31, 2019
Revenue from Contract with Customer [Abstract]
Deferred Revenue	$ 192,199		$ 149,106	$ 150,742	$ 122,489
Contract with Customer, Asset, after Allowance for Credit Loss	36,600		$ 22,600
Customer prepayments and deferred revenue	323,654	$ 278,015
Contract with Customer, Liability, Revenue Recognized	(278,817)	(251,462)
Temporary Equity, Foreign Currency Translation Adjustments	$ (1,744)	$ 1,700

Financial Instruments (Details)

Financial Instruments (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2020
Derivative [Line Items]
Cash Flow Hedge Gain (Loss) to be Reclassified within Twelve Months			$ 100
Designated as Hedging Instrument [Member] | June 2019 4 YR Cross Currency Swap [Member]
Derivative [Line Items]
Line Of Credit Facility Forecasted Borrowing Amount	$ 50,000		$ 50,000
Derivative, Fixed Interest Rate	0.82%		0.82%
Gain (Loss) on Foreign Currency Cash Flow Hedge Ineffectiveness	$ 0		$ 0
Designated as Hedging Instrument [Member] | June 2019 2 YR Cross Currency Swap [Member]
Derivative [Line Items]
Line Of Credit Facility Forecasted Borrowing Amount	$ 50,000		$ 50,000
Derivative, Fixed Interest Rate	0.95%		0.95%
Gain (Loss) on Foreign Currency Cash Flow Hedge Ineffectiveness	$ 0		$ 0
Designated as Hedging Instrument [Member] | February 2019 Cross Currency Swap [Member]
Derivative [Line Items]
Line Of Credit Facility Forecasted Borrowing Amount	$ 50,000		$ 50,000
Derivative, Fixed Interest Rate	0.78%		0.78%
Gain (Loss) on Foreign Currency Cash Flow Hedge Ineffectiveness	$ 0		$ 0
Designated as Hedging Instrument [Member] | 2017 Cross Currency Swap [Member]
Derivative [Line Items]
Gain (Loss) on Foreign Currency Cash Flow Hedge Ineffectiveness	0		0
Designated as Hedging Instrument [Member] | 2.25% $100 Million Interest Rate Swap [Member]
Derivative [Line Items]
Line Of Credit Facility Forecasted Borrowing Amount	$ 100,000		$ 100,000
Derivative, Fixed Interest Rate	2.25%		2.25%
Gain (Loss) on Interest Rate Cash Flow Hedge Ineffectiveness	$ 0		$ 0
Designated as Hedging Instrument [Member] | 2.52% $50 Million Interest Rate Swap [Member]
Derivative [Line Items]
Gain (Loss) on Interest Rate Cash Flow Hedge Ineffectiveness	0		0
Designated as Hedging Instrument [Member] | June 2021 4 YR Cross Currency Swap
Derivative [Line Items]
Line Of Credit Facility Forecasted Borrowing Amount	$ 50,000		$ 50,000
Derivative, Fixed Interest Rate	0.57%		0.57%
Designated as Hedging Instrument [Member] | June 2021 3 YR Cross Currency Swap
Derivative [Line Items]
Line Of Credit Facility Forecasted Borrowing Amount	$ 50,000		$ 50,000
Derivative, Fixed Interest Rate	0.66%		0.66%
Not Designated as Hedging Instrument [Member]
Derivative [Line Items]
Gain (Loss) on Foreign Currency Derivative Instruments Not Designated as Hedging Instruments	$ 800	$ 300	$ 13,200	$ 7,000
Derivative, Notional Amount	$ 605,000		$ 605,000		$ 536,500

Fair Value Measurements (Detail

Fair Value Measurements (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Mar. 24, 2021	Dec. 31, 2020
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Foreign Currency Cash Flow Hedge Short Term	$ 0		$ 13,093
Cash Equivalents, at Carrying Value	23,800		14,300
Fair Value, Inputs, Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Business Combination, Contingent Consideration, Liability		$ 13,500
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Asset	7,528		2,227
Derivative Liability	7,550		23,291
Foreign Currency Derivative Instruments Not Designated as Hedging Instruments, Asset at Fair Value	4,625		2,227
Foreign Currency Cash Flow Hedge Asset at Fair Value	2,903		0
Foreign Currency Derivative Instruments Not Designated as Hedging Instruments, Liability at Fair Value	2,373		1,399
Interest Rate Swap Short Term	1,442		0
Interest Rate Cash Flow Hedge Liability at Fair Value	0		2,502
Foreign Currency Cash Flow Hedge Liability at Fair Value	3,735		$ 6,297
Change in Carrying Value Verse Fair Value of Long Term Debt	$ 38,000

Income Taxes (Details)

Income Taxes (Details)	3 Months Ended		6 Months Ended
	Jun. 30, 2021Rate	Jun. 30, 2020Rate	Jun. 30, 2021Rate	Jun. 30, 2020Rate
Effective Income Tax Rate Reconciliation, Percent	19.80%	18.50%	19.60%	17.90%
Annual Effective Tax Rate before recurring discrete tax items			19.50%	20.50%

Debt (Details)

Debt (Details) € in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021USD ($)Rate	Jun. 30, 2020USD ($)	Jun. 30, 2021USD ($)Rate	Jun. 30, 2020USD ($)	Jun. 30, 2021EUR (€)Rate	Dec. 31, 2020USD ($)	Dec. 18, 2020USD ($)	Dec. 31, 2019USD ($)
Long-Term Debt, by Current and Noncurrent, and Short-Term Debt
Senior Notes	$ 930,988		$ 930,988
Unamortized Debt Issuance Expense	(3,221)		(3,221)
Line of Credit Facility, Fair Value of Amount Outstanding	667,641		667,641
Total debt	1,655,030		1,655,030
Debt, Current	(53,025)		(53,025)
Long-term Debt	1,602,005		1,602,005
Line of Credit Facility, Remaining Borrowing Capacity	576,300		576,300
Cash and Cash Equivalents, at Carrying Value	142,252	$ 127,277	142,252	$ 127,277		$ 94,254		$ 207,785
Gain (Loss) on Derivative Used in Net Investment Hedge, after Tax	5,800	$ 2,100	11,800	$ 100
Cumulative (gain) loss in other other comprehensive income related to the change in a net investment hedge.	17,000		17,000
Line of Credit Facility, Maximum Borrowing Capacity	1,250,000		1,250,000
Write off of Deferred Debt Issuance Cost			200
Debt Issuance Costs, Gross	2,000		2,000
Us Dollar Amounts Member
Long-Term Debt, by Current and Noncurrent, and Short-Term Debt
Senior Notes	473,410		473,410
Unamortized Debt Issuance Expense	(1,590)		(1,590)
Line of Credit Facility, Fair Value of Amount Outstanding	512,501		512,501
Total debt	989,485		989,485
Debt, Current	(349)		(349)
Long-term Debt	989,136		989,136
Other Principal Trading Currencies [Member]
Long-Term Debt, by Current and Noncurrent, and Short-Term Debt
Senior Notes	457,578		457,578
Unamortized Debt Issuance Expense	(1,631)		(1,631)
Line of Credit Facility, Fair Value of Amount Outstanding	155,140		155,140
Total debt	665,545		665,545
Debt, Current	(52,676)		(52,676)
Long-term Debt	$ 612,869		$ 612,869
1.06% Euro-Senior Notes
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage							1.06%
Long-Term Debt, by Current and Noncurrent, and Short-Term Debt
Senior Notes							$ 125,000
3.67% Senior Notes [Member]
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage | Rate	3.67%		3.67%		3.67%
Debt Instrument, Maturity Date			Dec. 17, 2022
Long-Term Debt, by Current and Noncurrent, and Short-Term Debt
Senior Notes	$ 50,000		$ 50,000
Debt Instrument, Term			10 years
3.67% Senior Notes [Member] | Us Dollar Amounts Member
Long-Term Debt, by Current and Noncurrent, and Short-Term Debt
Senior Notes	50,000		$ 50,000
3.67% Senior Notes [Member] | Other Principal Trading Currencies [Member]
Long-Term Debt, by Current and Noncurrent, and Short-Term Debt
Senior Notes	$ 0		$ 0
4.10% Senior Notes [Member]
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage | Rate	4.10%		4.10%		4.10%
Debt Instrument, Maturity Date			Sep. 19, 2023
Long-Term Debt, by Current and Noncurrent, and Short-Term Debt
Senior Notes	$ 50,000		$ 50,000
Debt Instrument, Term			10 years
4.10% Senior Notes [Member] | Us Dollar Amounts Member
Long-Term Debt, by Current and Noncurrent, and Short-Term Debt
Senior Notes	50,000		$ 50,000
4.10% Senior Notes [Member] | Other Principal Trading Currencies [Member]
Long-Term Debt, by Current and Noncurrent, and Short-Term Debt
Senior Notes	$ 0		$ 0
3.84% Senior Notes [Member]
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage | Rate	3.84%		3.84%		3.84%
Debt Instrument, Maturity Date			Sep. 19, 2024
Long-Term Debt, by Current and Noncurrent, and Short-Term Debt
Senior Notes	$ 125,000		$ 125,000
Debt Instrument, Term			10 years
3.84% Senior Notes [Member] | Us Dollar Amounts Member
Long-Term Debt, by Current and Noncurrent, and Short-Term Debt
Senior Notes	125,000		$ 125,000
3.84% Senior Notes [Member] | Other Principal Trading Currencies [Member]
Long-Term Debt, by Current and Noncurrent, and Short-Term Debt
Senior Notes	$ 0		$ 0
4.24% Senior Notes [Member]
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage | Rate	4.24%		4.24%		4.24%
Debt Instrument, Maturity Date			Jun. 25, 2025
Long-Term Debt, by Current and Noncurrent, and Short-Term Debt
Senior Notes	$ 125,000		$ 125,000
Debt Instrument, Term			10 years
4.24% Senior Notes [Member] | Us Dollar Amounts Member
Long-Term Debt, by Current and Noncurrent, and Short-Term Debt
Senior Notes	125,000		$ 125,000
4.24% Senior Notes [Member] | Other Principal Trading Currencies [Member]
Long-Term Debt, by Current and Noncurrent, and Short-Term Debt
Senior Notes	$ 0		$ 0
3.91% Senior Notes [Member]
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage | Rate	3.91%		3.91%		3.91%
Debt Instrument, Maturity Date			Jun. 25, 2029
Long-Term Debt, by Current and Noncurrent, and Short-Term Debt
Senior Notes	$ 75,000		$ 75,000
Debt Instrument, Term			10 years
3.91% Senior Notes [Member] | Us Dollar Amounts Member
Long-Term Debt, by Current and Noncurrent, and Short-Term Debt
Senior Notes	75,000		$ 75,000
3.91% Senior Notes [Member] | Other Principal Trading Currencies [Member]
Long-Term Debt, by Current and Noncurrent, and Short-Term Debt
Senior Notes	$ 0		$ 0
3.19% Senior Notes [Member]
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage | Rate	3.19%		3.19%		3.19%
Debt Instrument, Maturity Date			Jan. 24, 2035
Long-Term Debt, by Current and Noncurrent, and Short-Term Debt
Senior Notes	$ 50,000		$ 50,000
Debt Instrument, Term			15 years
3.19% Senior Notes [Member] | Us Dollar Amounts Member
Long-Term Debt, by Current and Noncurrent, and Short-Term Debt
Senior Notes	50,000		$ 50,000
3.19% Senior Notes [Member] | Other Principal Trading Currencies [Member]
Long-Term Debt, by Current and Noncurrent, and Short-Term Debt
Senior Notes	$ 0		$ 0
1.47% EURO Senior Notes [Member]
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage | Rate	1.47%		1.47%		1.47%
Euro Notes - USD Amount	$ 149,094		$ 149,094
Debt Instrument, Maturity Date			Jun. 17, 2030
Long-Term Debt, by Current and Noncurrent, and Short-Term Debt
Senior Notes | €					€ 125,000
Debt Instrument, Term			15 years
1.47% EURO Senior Notes [Member] | Us Dollar Amounts Member
Debt Instrument [Line Items]
Euro Notes - USD Amount	0		$ 0
1.47% EURO Senior Notes [Member] | Other Principal Trading Currencies [Member]
Debt Instrument [Line Items]
Euro Notes - USD Amount	$ 149,094		$ 149,094
1.30% Euro-Senior Notes [Member]
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage | Rate	1.30%		1.30%		1.30%
Euro Notes - USD Amount	$ 161,021		$ 161,021
Debt Instrument, Maturity Date			Nov. 6, 2034
Long-Term Debt, by Current and Noncurrent, and Short-Term Debt
Senior Notes | €					€ 135
Debt Instrument, Term			15 years
1.30% Euro-Senior Notes [Member] | Us Dollar Amounts Member
Debt Instrument [Line Items]
Euro Notes - USD Amount	0		$ 0
1.30% Euro-Senior Notes [Member] | Other Principal Trading Currencies [Member]
Debt Instrument [Line Items]
Euro Notes - USD Amount	$ 161,021		$ 161,021
Credit facility [Member]
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage | Rate	0.975%		0.975%		0.975%
Debt Instrument, Maturity Date			Jun. 15, 2023
Long-Term Debt, by Current and Noncurrent, and Short-Term Debt
Senior Notes	$ 1,250,000		$ 1,250,000
Other local arrangements [Member]
Long-Term Debt, by Current and Noncurrent, and Short-Term Debt
Other Borrowings	56,401		56,401
Other local arrangements [Member] | Us Dollar Amounts Member
Long-Term Debt, by Current and Noncurrent, and Short-Term Debt
Other Borrowings	3,574		3,574
Other local arrangements [Member] | Other Principal Trading Currencies [Member]
Long-Term Debt, by Current and Noncurrent, and Short-Term Debt
Other Borrowings	$ 52,827		$ 52,827
Swiss Pension Loans [Member]
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage | Rate	0.85%		0.85%		0.85%
Long-Term Debt, by Current and Noncurrent, and Short-Term Debt
Loan from Swiss Pension Plan USD Amount	$ 39,600		$ 39,600
Swiss Pension Loans (local currency)	38,000		38,000
1.06% Euro-Senior Notes
Debt Instrument [Line Items]
Euro Notes - USD Amount	149,094		149,094
1.06% Euro-Senior Notes | Us Dollar Amounts Member
Debt Instrument [Line Items]
Euro Notes - USD Amount	0		0
1.06% Euro-Senior Notes | Other Principal Trading Currencies [Member]
Debt Instrument [Line Items]
Euro Notes - USD Amount	$ 149,094		$ 149,094
2.83% Senior Notes
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage | Rate	2.83%		2.83%		2.83%
Debt Instrument, Maturity Date			Jul. 22, 2033
Long-Term Debt, by Current and Noncurrent, and Short-Term Debt
Senior Notes	$ 125		$ 125
Debt Instrument, Term			12 years

Share Repurchase Program and _2

Share Repurchase Program and Treasury Stock (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended				6 Months Ended
	Jun. 30, 2021	Mar. 31, 2021	Jun. 30, 2020	Mar. 31, 2020	Jun. 30, 2021	Jun. 30, 2020
Stock Repurchase Program, Additional Authorized Amount					$ 2,500,000
Share Repurchase Program and Treasury Stock (Textuals) [Abstract]
Remaining Amount to Repurchase under the program	$ 2,600,000				$ 2,600,000
Shares Purchased Under Share Repurchase Program	29,800,000				29,800,000
Treasury Stock, Value, Acquired, Cost Method	$ 212,499	$ 262,500	$ 0	$ 200,000	$ 475,000	$ 200,000
Number of shares repurchased					(390,538)	(268,161)
Average price of share repurchased, per share					$ 1,216.25	$ 745.80
Exercise of stock options and restricted stock units, shares reissued					35,636	114,109

Earnings Per Common Share (Deta

Earnings Per Common Share (Details) - shares	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Incremental Weighted Average Shares Attributable to Dilutive Effect [Abstract]
Weighted Average Number of Shares Outstanding, Diluted, Total	330,638	288,711	326,169	307,265
Antidilutive Shares Outstanding
Weighted Average Number of Shares Outstanding, Antidilutive, Total	21,637	88,032	23,620	88,261

Net Periodic Benefit Cost (Deta

Net Periodic Benefit Cost (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Defined Benefit Plan Disclosure [Line Items]
Service cost, net	$ 5,281	$ 4,854	$ 10,600	$ 9,697
Interest cost on projected benefit obligations	1,409	1,993	2,810	4,124
Expected return on plan assets	(10,398)	(9,541)	(20,863)	(19,152)
Recognition of prior service cost	(484)	(1,754)	(974)	(3,498)
Recognition of actuarial losses/(gains)	6,966	6,350	13,985	12,587
Net periodic pension cost/(credit)	2,774	1,902	5,558	3,758
Pension Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Service cost, net	374	326	748	652
Interest cost on projected benefit obligations	549	889	1,098	1,778
Expected return on plan assets	(1,494)	(1,524)	(2,988)	(3,048)
Recognition of prior service cost	0	0	0	0
Recognition of actuarial losses/(gains)	729	645	1,458	1,290
Net periodic pension cost/(credit)	158	336	316	672
Other Pension Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Service cost, net	4,907	4,528	9,852	9,045
Interest cost on projected benefit obligations	858	1,097	1,708	2,332
Expected return on plan assets	(8,904)	(8,017)	(17,875)	(16,104)
Recognition of prior service cost	(465)	(1,735)	(936)	(3,460)
Recognition of actuarial losses/(gains)	6,246	5,712	12,545	11,311
Net periodic pension cost/(credit)	2,642	1,585	5,294	3,124
Defined Benefit Plan, Expected Future Employer Contributions, Current Fiscal Year, Description	27,900		27,900
Other Postretirement Benefits Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Service cost, net	0	0	0	0
Interest cost on projected benefit obligations	2	7	4	14
Expected return on plan assets	0	0	0	0
Recognition of prior service cost	(19)	(19)	(38)	(38)
Recognition of actuarial losses/(gains)	(9)	(7)	(18)	(14)
Net periodic pension cost/(credit)	(26)	$ (19)	(52)	$ (38)
Defined Benefit Plan, Expected Future Employer Contributions, Current Fiscal Year, Description	$ 200		$ 200

Restructuring Charges (Details)

Restructuring Charges (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Company's accrual for restructuring activities:-
Beginning Restructuring Accrual Balance, as of December 31, 2018			$ 9,184
Restructuring Charges	$ 876	$ 860	2,069	$ 2,765
Restructuring Cash Payments			(5,548)
Impact of foreign currency on restructuring reserve			(210)
Ending Restructuring Accrual Balance, as of September 30, 2019	$ 5,495		$ 5,495

Restructuring Charges Restructu

Restructuring Charges Restructuring Charges (textuals) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Restructuring Charges [Abstract]
Restructuring Charges	$ 876	$ 860	$ 2,069	$ 2,765

Other Charges , Net Other Charg

Other Charges , Net Other Charges, Net (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Other Income and Expenses [Abstract]
Non-service pension costs (benefits)	$ 2.5	$ 3	$ 5	$ 5.9
Business Combination, Acquisition Related Costs			$ 2.8

Segment Reporting (Details)

Segment Reporting (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2020	Sep. 30, 2019
Operations of the Company's operating segments
Net Sales to External Customers	$ 924,351	$ 690,673	$ 1,728,741	$ 1,339,835
Revenue Transactions With Other Operating Segments	0	0	0	0
Net Sales	924,351	690,673	1,728,741	1,339,835
Segment Profit	255,256	176,643	465,928	317,921
Goodwill	642,186		642,186		$ 550,270	$ 537,624
Swiss Operations [Member]
Operations of the Company's operating segments
Net Sales to External Customers	40,836	28,948	80,117	60,844
Revenue Transactions With Other Operating Segments	201,182	142,487	385,647	295,336
Net Sales	242,018	171,435	465,764	356,180
Segment profit	69,516	48,248	134,395	102,158
Goodwill	23,553		23,553			22,830
Western European Operations [Member]
Operations of the Company's operating segments
Net Sales to External Customers	201,722	149,051	394,072	302,376
Revenue Transactions With Other Operating Segments	55,873	39,699	108,128	81,413
Net Sales	257,595	188,750	502,200	383,789
Segment profit	38,476	30,345	76,342	54,452
Goodwill	93,133		93,133			84,975
Chinese Operations [Member]
Operations of the Company's operating segments
Net Sales to External Customers	205,521	140,907	361,595	241,506
Revenue Transactions With Other Operating Segments	72,529	45,731	141,607	94,480
Net Sales	278,050	186,638	503,202	335,986
Segment profit	94,663	63,955	166,687	109,505
Goodwill	697		697			621
Other Operations [Member]
Operations of the Company's operating segments
Net Sales to External Customers	152,962	122,427	297,688	244,359
Revenue Transactions With Other Operating Segments	1,275	875	2,371	1,771
Net Sales	154,237	123,302	300,059	246,130
Segment profit	21,414	13,122	41,586	24,148
Goodwill	15,203		15,203			14,828
Intersegment Elimination [Member]
Operations of the Company's operating segments
Net Sales to External Customers	0	0	0	0
Revenue Transactions With Other Operating Segments	(369,366)	(256,307)	(713,045)	(526,904)
Net Sales	(369,366)	(256,307)	(713,045)	(526,904)
Segment profit	(48,085)	(31,608)	(96,025)	(69,861)
Goodwill	0		0			0
US Operations [Member]
Operations of the Company's operating segments
Net Sales to External Customers	323,310	249,340	595,269	490,750
Revenue Transactions With Other Operating Segments	38,507	27,515	75,292	53,904
Net Sales	361,817	276,855	670,561	544,654
Segment profit	79,272	$ 52,581	142,943	$ 97,519
Goodwill	$ 509,600		$ 509,600			$ 414,370

Segment Reporting (Details 1)

Segment Reporting (Details 1) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Reconciliation of earnings before taxes to segment profit
Earnings before taxes	$ 230,384	$ 155,255	$ 415,798	$ 273,754
Amortization	16,218	13,889	30,102	27,887
Interest expense	10,439	9,582	19,910	19,801
Restructuring Charges	876	860	2,069	2,765
Other charges (income), net	(2,661)	(2,943)	(1,951)	(6,286)
Segment Profit Information	$ 255,256	$ 176,643	$ 465,928	$ 317,921

Segment Reporting (Details Text

Segment Reporting (Details Textuals) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Segment Reporting (Textuals) [Abstract]
Restructuring Charges	$ 876	$ 860	$ 2,069	$ 2,765
Swiss Operations [Member]
Segment Reporting (Textuals) [Abstract]
Restructuring Charges	100		300	700
Western European Operations [Member]
Segment Reporting (Textuals) [Abstract]
Restructuring Charges	600	300	1,100	1,100
Chinese Operations [Member]
Segment Reporting (Textuals) [Abstract]
Restructuring Charges		100		100
Other Operations [Member]
Segment Reporting (Textuals) [Abstract]
Restructuring Charges	100	200	300	300
US Operations [Member]
Segment Reporting (Textuals) [Abstract]
Restructuring Charges	$ 100	$ 300	$ 400	$ 600