Mettler-Toledo International (MTD) 10-Q 4 Nov 22 2021 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information Document	9 Months Ended
	Sep. 30, 2022 shares
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2022
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	22,294,189
Entity Central Index Key	0001037646
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q3
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		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Revenues	$ 985,846	$ 951,950	$ 2,862,024	$ 2,680,691
Gross profit	584,656	555,820	1,675,902	1,564,420
Research and development	44,129	42,276	131,180	124,151
Selling, general and administrative	233,357	240,734	710,875	701,531
Amortization	16,728	16,039	49,697	46,141
Interest expense	14,484	11,791	38,587	31,701
Restructuring Charges	2,022	650	7,803	2,719
Other charges (income), net	(1,949)	(3,257)	(7,818)	(5,208)
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest, Total	275,885	247,587	745,578	663,385
Provision for taxes	55,288	43,899	138,910	125,271
Net earnings	$ 220,597	$ 203,688	$ 606,668	$ 538,114
Basic earnings per common share:
Net earnings	$ 9.85	$ 8.83	$ 26.86	$ 23.19
Weighted average number of common shares	22,403,393	23,056,924	22,587,026	23,203,257
Diluted earnings per common share:
Net earnings	$ 9.76	$ 8.71	$ 26.58	$ 22.86
Weighted average number of common and common equivalent shares	22,610,027	23,393,579	22,821,408	23,536,615
Comprehensive Income, Net of Tax (Note 9)	$ 178,448	$ 208,428	$ 537,378	$ 575,187
Product [Member]
Revenues	783,986	760,844	2,270,845	2,124,245
Cost of Goods and Services Sold	305,337	304,290	902,445	843,613
Service [Member]
Revenues	201,860	191,106	591,179	556,446
Cost of Goods and Services Sold	$ 95,853	$ 91,840	$ 283,677	$ 272,658

Interim Consolidated Balance Sh

Interim Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Current assets:
Cash and cash equivalents	$ 122,136	$ 98,564
Trade accounts receivable, less allowances	611,399	647,335
Inventories	451,320	414,543
Other current assets and prepaid expenses	131,047	108,916
Total current assets	1,315,902	1,269,358
Property, plant and equipment, net	728,602	799,365
Goodwill	636,089	648,622
Other intangible assets, net	297,435	307,450
Deferred tax assets, net	34,986	39,496
Other non-current assets	281,446	262,507
Total assets	3,294,460	3,326,798
Current liabilities:
Trade accounts payable	226,681	272,911
Accrued and other liabilities	202,039	208,811
Accrued compensation and related items	184,773	236,265
Deferred Revenue	198,179	192,648
Taxes payable	199,626	134,769
Short-term borrowings and current maturities of long-term debt	153,639	101,134
Total current liabilities	1,164,937	1,146,538
Long-term debt	1,825,253	1,580,808
Deferred tax liabilities, net	76,532	62,230
Other non-current liabilities	310,547	365,801
Total liabilities	3,377,269	3,155,377
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	842,421	825,974
Treasury stock at cost (20,991,448 shares at September 30, 2020 and 20,660,694 shares at December 31, 2019)	(7,064,513)	(6,259,049)
Retained earnings	6,463,349	5,859,272
Accumulated other comprehensive loss	(324,514)	(255,224)
Total shareholders' equity	(82,809)	171,421
Total liabilities and shareholders' equity	$ 3,294,460	$ 3,326,798

Balance Sheet Parentheticals (P

Balance Sheet Parentheticals (Parentheticals) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Accounts Receivable, Allowance for Credit Loss, Current	$ 22,094	$ 22,176
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	22,294,189	22,843,103
Treasury Stock, Shares	22,491,822	21,942,908

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, 2020	$ 282,675	$ 448	$ 805,140	$ (5,283,584)	$ 5,095,596	$ (334,925)
Beginning balance, shares at Dec. 31, 2020		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		23,471,841
Exercise of stock options and restricted stock units, shares	71,124
Treasury Stock, Value, Acquired, Cost Method	$ (727,500)
Repurchases of common stock, shares	(557,310)
Net earnings	$ 538,114
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent	37,073
Ending balance at Sep. 30, 2021	159,171	$ 448	820,272	(5,995,662)	5,631,965	(297,852)
Ending balance, shares at Sep. 30, 2021		22,985,655
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		23,116,939
Stock Issued During Period, Value, Treasury Stock Reissued	(7,081)		0	(7,889)	(808)
Exercise of stock options and restricted stock units, shares		35,488
Treasury Stock, Value, Acquired, Cost Method	(252,499)			(252,499)
Repurchases of common stock, shares		(166,772)
Adjustment to Additional Paid in Capital, Share-Based Compensation	4,737		4,737
Net earnings	203,688				203,688
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent	4,740					4,740
Ending balance at Sep. 30, 2021	159,171	$ 448	820,272	(5,995,662)	5,631,965	(297,852)
Ending balance, shares at Sep. 30, 2021		22,985,655
Beginning balance at Dec. 31, 2021	$ 171,421	$ 448	825,974	(6,259,049)	5,859,272	(255,224)
Beginning balance, shares at Dec. 31, 2021	22,843,103	22,843,103
Stock Issued During Period, Value, Treasury Stock Reissued	$ (5,289)		(1,020)	(6,669)	(2,400)
Exercise of stock options and restricted stock units, shares		27,795
Treasury Stock, Value, Acquired, Cost Method	(275,000)			(275,000)
Repurchases of common stock, shares		(190,593)
Adjustment to Additional Paid in Capital, Share-Based Compensation	4,509		4,509
Net earnings	174,001				174,001
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent	4,350					4,350
Ending balance at Mar. 31, 2022	84,570	$ 448	831,503	(6,527,380)	6,030,873	(250,874)
Ending balance, shares at Mar. 31, 2022		22,680,305
Beginning balance at Dec. 31, 2021	$ 171,421	$ 448	825,974	(6,259,049)	5,859,272	(255,224)
Beginning balance, shares at Dec. 31, 2021	22,843,103	22,843,103
Exercise of stock options and restricted stock units, shares	80,466
Treasury Stock, Value, Acquired, Cost Method	$ (825,000)
Repurchases of common stock, shares	(629,380)
Net earnings	$ 606,668
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent	(69,290)
Ending balance at Sep. 30, 2022	$ (82,809)	$ 448	842,421	(7,064,513)	6,463,349	(324,514)
Ending balance, shares at Sep. 30, 2022	22,294,189	22,294,189
Beginning balance at Mar. 31, 2022	$ 84,570	$ 448	831,503	(6,527,380)	6,030,873	(250,874)
Beginning balance, shares at Mar. 31, 2022		22,680,305
Stock Issued During Period, Value, Treasury Stock Reissued	(12,421)		(1,496)	(10,925)	0
Exercise of stock options and restricted stock units, shares		44,613
Treasury Stock, Value, Acquired, Cost Method	(274,999)			(274,999)
Repurchases of common stock, shares		(218,308)
Adjustment to Additional Paid in Capital, Share-Based Compensation	4,691		4,691
Net earnings	212,070				212,070
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent	(31,491)					(31,491)
Ending balance at Jun. 30, 2022	7,262	$ 448	837,690	(6,791,454)	6,242,943	(282,365)
Ending balance, shares at Jun. 30, 2022		22,506,610
Stock Issued During Period, Value, Treasury Stock Reissued	(1,750)		0	(1,941)	(191)
Exercise of stock options and restricted stock units, shares		8,058
Treasury Stock, Value, Acquired, Cost Method	(275,000)			(275,000)
Repurchases of common stock, shares		(220,479)
Adjustment to Additional Paid in Capital, Share-Based Compensation	4,731		4,731
Net earnings	220,597				220,597
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent	(42,149)					(42,149)
Ending balance at Sep. 30, 2022	$ (82,809)	$ 448	$ 842,421	$ (7,064,513)	$ 6,463,349	$ (324,514)
Ending balance, shares at Sep. 30, 2022	22,294,189	22,294,189

Interim Consolidated Statemen_3

Interim Consolidated Statements of Cash Flows (Unaudited) - USD ($)	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Cash flows from operating activities:
Net earnings	$ 606,668,000	$ 538,114,000
Adjustments to reconcile net earnings to net cash provided by operating activities:
Depreciation	35,001,000	33,440,000
Amortization	49,697,000	46,141,000
Deferred tax benefit	(4,881,000)	(6,072,000)
Share-based compensation	13,931,000	13,893,000
Increase (decrease) in cash resulting from changes in:
Trade accounts receivable, net	(16,239,000)	(19,153,000)
Inventories	(78,574,000)	(87,568,000)
Other current assets	(14,509,000)	(3,596,000)
Trade accounts payable	(26,614,000)	44,170,000
Taxes payable	73,815,000	42,474,000
Increase (Decrease) in Other Operating Assets and Liabilities, Net	(82,871,000)	65,876,000
Net cash provided by operating activities	555,424,000	667,719,000
Cash flows from investing activities:
Proceeds from sale of property, plant and equipment	236,000	3,399,000
Purchase of property, plant and equipment	(89,213,000)	(69,796,000)
Proceeds from government funding	28,670,000
Acquisitions	(25,588,000)	(193,387,000)
Payments for (Proceeds from) Derivative Instrument, Investing Activities	(3,463,000)	8,559,000
Net cash used in investing activities	(89,358,000)	(251,225,000)
Cash flows from financing activities:
Proceeds from borrowings	1,732,169,000	1,638,321,000
Repayments of borrowings	(1,348,152,000)	(1,249,177,000)
Proceeds from stock option exercises	19,460,000	14,914,000
Repurchases of common stock	(824,999,000)	(727,498,000)
Payment for Contingent Consideration Liability, Financing Activities	7,912,000
Proceeds from (Payments for) Other Financing Activities	(1,172,000)	(2,864,000)
Net cash used in financing activities	(430,606,000)	(326,304,000)
Effect of Exchange Rate on Cash, Cash Equivalents, Restricted Cash, and Restricted Cash Equivalents, Continuing Operations	(11,888,000)	(772,000)
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect	23,572,000	89,418,000
Beginning of period	98,564,000	94,254,000
End of period	122,136,000	183,672,000
Cash and cash equivalents:	$ 23,572,000	$ 89,418,000

Basis of Presentation

Basis of Presentation	9 Months Ended
	Sep. 30, 2022
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, 2021. The accompanying interim consolidated financial statements reflect all adjustments which, in the opinion of management, are necessary for a fair statement of the results of the interim periods presented. Operating results for the three and nine months ended September 30, 2022 are not necessarily indicative of the results to be expected for the full year ending December 31, 2022. 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 September 30, 2022 and through the date of this report. Actual results may differ from those estimates due to the uncertainty around the global economy, the magnitude and duration of the COVID-19 pandemic, the ongoing developments related to Ukraine, as well as other factors. All intercompany transactions and balances have been eliminated.

Summary of Significant Accounti

Summary of Significant Accounting Policies	9 Months Ended
	Sep. 30, 2022
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: September 30, December 31, Raw materials and parts $ 215,397 $ 184,624 Work-in-progress 80,898 76,019 Finished goods 155,025 153,900 $ 451,320 $ 414,543 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: September 30, 2022 December 31, 2021 Gross Accumulated Intangibles, Net Gross Accumulated Intangibles, Net Customer relationships $ 289,709 $ (88,707) $ 201,002 $ 282,470 $ (79,782) $ 202,688 Proven technology and patents 109,967 (60,200) $ 49,767 115,680 (56,305) 59,375 Tradenames (finite life) 7,490 (3,223) $ 4,267 8,206 (3,731) 4,475 Tradenames (indefinite life) 35,683 — $ 35,683 35,949 — 35,949 Other 13,242 (6,526) $ 6,716 10,641 (5,678) 4,963 $ 456,091 $ (158,656) $ 297,435 $ 452,946 $ (145,496) $ 307,450 The Company recognized amortization expense associated with the above intangible assets of $6.7 million and $5.7 million for the three months ended September 30, 2022 and 2021, respectively, and $20.1 million and $15.9 million for the nine months ended September 30, 2022 and 2021, respectively. The annual aggregate amortization expense based on the current balance of other intangible assets is estimated to be $25.4 million for 2022, $23.6 million for 2023, $22.8 million for 2024, $21.9 million for 2025, $19.7 million for 2026, and $18.4 million for 2027. Purchased intangible amortization was $6.4 million, $5.0 million after tax, and $5.5 million, $4.1 million after tax, for the three months ended September 30, 2022 and 2021, respectively, and $19.4 million, $15.0 million after tax, and $15.2 million, $11.5 million after tax, for the nine months ended September 30, 2022 and 2021, respectively. In addition to the above amortization, the Company recorded amortization expense associated with capitalized software of $10.0 million and $10.3 million for the three months ended September 30, 2022 and 2021, respectively, and $29.4 million and $30 million for the nine months ended September 30, 2022 and 2021, 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 $4.7 million and $13.9 million of share-based compensation expense for the three and nine months ended September 30, 2022, respectively, compared to $4.7 million and $13.9 million for the corresponding periods in 2021. 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 4 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 Company renewed the LIBOR based credit agreement, as discussed further in Note 10 of the Annual Report Form 10-K, which includes a fallback protocol when LIBOR is discontinued. Based on these procedures, when LIBOR is discontinued the interest rate and cross currency swaps will not require de-designation if certain criteria are met. The Company expects the financial impact of the rate change when LIBOR is discontinued to be immaterial to its financial statements.

Revenue from Contracts with Cus

Revenue from Contracts with Customers (Notes)	9 Months Ended
	Sep. 30, 2022
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 nine months ended September 30, 2022 and 2021 follows: For the three months ended September 30, 2022 U.S. Operations Swiss Operations Western European Operations Chinese Operations Other Operations Total Product Revenue $ 287,948 $ 32,366 $ 129,089 $ 212,163 $ 122,421 $ 783,987 Service Revenue: Point in time 65,596 6,401 29,071 13,543 30,248 144,859 Over time 20,220 2,205 22,799 4,016 7,760 57,000 Total $ 373,764 $ 40,972 $ 180,959 $ 229,722 $ 160,429 $ 985,846 For the three months ended September 30, 2021 U.S. Operations Swiss Operations Western European Operations Chinese Operations Other Operations Total Product Revenue $ 263,885 $ 33,612 $ 142,318 $ 193,727 $ 127,302 $ 760,844 Service Revenue: Point in time 56,325 6,092 37,524 12,680 30,120 142,741 Over time 16,498 2,146 18,790 4,053 6,878 48,365 Total $ 336,708 $ 41,850 $ 198,632 $ 210,460 $ 164,300 $ 951,950 For the nine months ended September 30, 2022 U.S. Operations Swiss Operations Western European Operations Chinese Operations Other Operations Total Product Revenue $ 816,193 $ 99,567 $ 404,060 $ 593,283 $ 357,742 $ 2,270,845 Service Revenue: Point in time 190,340 20,072 97,250 34,578 89,390 431,630 Over time 54,197 6,665 62,798 14,376 21,513 159,549 Total $ 1,060,730 $ 126,304 $ 564,108 $ 642,237 $ 468,645 $ 2,862,024 For the nine months ended September 30, 2021 U.S. Operations Swiss Operations Western European Operations Chinese Operations Other Operations Total Product Revenue $ 721,744 $ 95,797 $ 424,904 $ 525,855 $ 355,945 $ 2,124,245 Service Revenue: Point in time 162,409 19,517 110,243 34,655 87,708 414,532 Over time 47,824 6,653 57,557 11,545 18,335 141,914 Total $ 931,977 $ 121,967 $ 592,704 $ 572,055 $ 461,988 $ 2,680,691 A summary of revenue by major geographic destination for the three and nine months ended September 30 follows: Three Months Ended Nine Months Ended 2022 2021 2022 2021 Americas $ 408,207 $ 367,278 $ 1,154,602 $ 1,024,033 Europe 228,145 258,925 720,667 760,491 Asia / Rest of World 349,494 325,747 986,755 896,167 Total $ 985,846 $ 951,950 $ 2,862,024 $ 2,680,691 The Company's global revenue mix by product category is comprised of laboratory (56% of sales), industrial (39% of sales) and retail (5% 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 nine months ended September 30 is as follows: Three Months Ended Nine Months Ended 2022 2021 2022 2021 Laboratory $ 555,112 $ 536,489 $ 1,614,586 $ 1,487,222 Industrial 386,543 370,505 1,114,454 1,049,295 Retail 44,191 44,956 132,984 144,174 Total $ 985,846 $ 951,950 $ 2,862,024 $ 2,680,691 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 September 30, 2022 and December 31, 2021 was $34.7 million and $32.1 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 nine month periods ending September 30, 2022 and 2021 are as follows: 2022 2021 Beginning balances as of January 1 $ 192,648 $ 149,106 Customer pre-payments/deferred revenue 545,997 496,437 Revenue recognized (523,022) (446,775) Foreign currency translation (17,444) (3,534) Ending balance as of September 30 $ 198,179 $ 195,234 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)	9 Months Ended
	Sep. 30, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Instruments and Hedging Activities Disclosure [Text Block]	FINANCIAL INSTRUMENTS The Company has limited involvement with derivative financial instruments and does not use them for trading purposes. The Company enters into certain interest rate 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 5 and Note 9 to the interim consolidated financial statements. As also described in Note 7, the Company has designated its euro-denominated debt as a hedge of a portion of its net investment in euro-denominated foreign subsidiary. Cash Flow Hedges In November 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 0.64%. The swap matures in November 2023. 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. 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. 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 matured in February 2022. The Company's cash flow hedges are recorded gross at fair value in the consolidated balance sheet at September 30, 2022 and December 31, 2021, respectively. A derivative gain of $7.2 million based upon interest rates and foreign currency rates at September 30, 2022, 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 September 30, 2022.

Fair Value Measurements

Fair Value Measurements	9 Months Ended
	Sep. 30, 2022
Fair Value Disclosures [Abstract]
FAIR VALUE MEASUREMENTS	FAIR VALUE MEASUREMENTS At September 30, 2022 and December 31, 2021, the Company had derivative assets totaling $20.5 million and $6.0 million respectively, and derivative liabilities totaling $12.2 million and $10.3 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 September 30, 2022 and December 31, 2021. 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 below. September 30, 2022 December 31, 2021 Balance Sheet Classification Foreign currency forward contracts not designated as hedging instruments $ 4,058 $ 3,927 Other current assets and prepaid expenses Cash Flow Hedges: Cross currency swap agreement 125 — Other current assets and prepaid expenses Cross currency swap agreement 16,318 2,119 Other non-current assets Total derivative assets $ 20,501 $ 6,046 Foreign currency forward contracts not designated as hedging instruments $ 12,187 $ 4,510 Accrued and other liabilities Cash Flow Hedges: Interest rate swap agreements — 352 Accrued and other liabilities Cross currency swap agreement — 5,482 Other non-current liabilities Total derivative liabilities $ 12,187 $ 10,344 The Company had $26.6 million and $18.5 million of cash equivalents at September 30, 2022 and December 31, 2021, 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 is less than the carrying value by approximately $242.3 million as of September 30, 2022. 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	9 Months Ended
	Sep. 30, 2022
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXESThe Company's reported tax rate was 20.0% and 17.7% during the three months ended September 30, 2022 and 2021, respectively and 18.6% and 18.9% during the nine months ended September 30, 2022 and 2021, respectively. The provision for taxes is based upon using the Company's projected annual effective tax rate of 19.0% and 19.5% before non-recurring discrete tax items during 2022 and 2021, 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	9 Months Ended
	Sep. 30, 2022
Debt Disclosure [Abstract]
DEBT	DEBT Debt consisted of the following at September 30, 2022: 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 2.83% $125 million twelve-year Senior Notes due July 22, 2033 125,000 — 125,000 3.19% $50 million fifteen-year Senior Notes due January 24, 2035 50,000 — 50,000 2.81% $150 million fifteen-year Senior Note due March 17, 2037 150,000 — 150,000 2.91% $150 million fifteen-year Senior Note due September 1, 2037 150,000 — 150,000 1.47% Euro 125 million fifteen-year Senior Notes due June 17, 2030 — 120,301 120,301 1.30% Euro 135 million fifteen-year Senior Notes due November 6, 2034 — 129,925 129,925 1.06% Euro 125 million fifteen-year Senior Notes due March 19, 2036 — 120,301 120,301 Debt issuance costs, net (2,398) (1,521) (3,919) Total Senior Notes 897,602 369,006 1,266,608 $1.25 billion Credit Agreement, interest at LIBOR plus 87.5 basis points 495,806 159,149 654,955 Other local arrangements 4,563 52,766 57,329 Total debt 1,397,971 580,921 1,978,892 Less: current portion (100,983) (52,656) (153,639) Total long-term debt $ 1,296,988 $ 528,265 $ 1,825,253 As of September 30, 2022, the Company had $589.3 million of additional borrowings available under its Credit Agreement, and the Company maintained $122.1 million of cash and cash equivalents. In December 2021, the Company entered into an agreement to issue and sell $300 million 15-year Senior Notes in a private placement. The Company issued $150 million with a fixed interest rate of 2.81% (2.81% Senior Notes) in March 2022 and an additional $150 million with a fixed interest rate of 2.91% (2.91% Senior Notes) in September 2022. The Senior Notes will be senior unsecured obligations of the Company. The 2.81% Senior Notes mature in March 2037 and the 2.91% Senior Notes mature in September 2037. Interest on the 2.81% and 2.91% Senior Notes will be payable semi-annually in March and September each year. Interest payments on the 2.81% Senior Notes will begin in September 2022 and interest on the 2.91% will begin in March 2023. The terms of the Senior Notes are consistent with the previous Senior Notes as described in the Company's Annual Report Form 10-K. The Company will use the proceeds from the sale of the notes to refinance existing indebtedness and for other general corporate purposes. 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 gain of $35.8 million and an unrealized gain of $9.4 million for the three months ended September 30, 2022 and 2021, respectively, and an unrealized gain of $66.2 million and an unrealized gain of $21.2 million for the nine month periods ended September 30, 2022 and 2021, respectively. The Company has a gain of $71.7 million recorded in accumulated other comprehensive income (loss) as of September 30, 2022. Other Local Arrangements

Share Repurchase Program and Tr

Share Repurchase Program and Treasury Stock	9 Months Ended
	Sep. 30, 2022
Equity [Abstract]
SHARE REPURCHASE PROGRAM AND TREASURY STOCK	SHARE REPURCHASE PROGRAM AND TREASURY STOCKIn November 2022, the Company's Board of Directors authorized an additional $2.5 billion to be added to its share repurchase program, which has $1.2 billion of remaining availability as of September 30, 2022. The share repurchases are expected to be funded from cash generated from operating activities, borrowings, and cash balances. Repurchases will be made through open market transactions, and the amount and timing of purchases will depend on business and market conditions, the stock price, trading restrictions, the level of acquisition activity, and other factors. The Company has purchased 30.8 million shares since the inception of the program in 2004 through September 30, 2022. During the nine months ended September 30, 2022 and 2021, the Company spent $825.0 million and $727.5 million on the repurchase of 629,380 shares and 557,310 shares at an average price per share of $1,310.79 and $1,305.35, respectively. The Company also reissued 80,466 shares and 71,124 shares held in treasury upon the exercise of stock options and vesting of restricted stock units during the nine months ended September 30, 2022 and 2021, respectively.

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income	9 Months Ended
	Sep. 30, 2022
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 September 30: Three Months Ended Nine Months Ended 2022 2021 2022 2021 Net earnings $ 220,597 $ 203,688 $ 606,668 $ 538,114 Other comprehensive income (loss), net of tax (42,149) 4,740 (69,290) 37,073 Comprehensive income, net of tax $ 178,448 $ 208,428 $ 537,378 $ 575,187 The following table presents changes in accumulated other comprehensive income by component for the nine months ended September 30, 2022 and 2021: Currency Translation Adjustment, Net of Tax Net Unrealized Pension and Post-Retirement Benefit Related Items, Total Balance at December 31, 2021 $ (19,566) $ 2 $ (235,660) $ (255,224) Other comprehensive income (loss), net of tax: Unrealized gains (losses) cash flow hedging arrangements — 18,512 — 18,512 Foreign currency translation adjustment (101,250) — 17,842 (83,408) Amounts recognized from accumulated other comprehensive income (loss), net of tax — (14,434) 10,040 (4,394) Net change in other comprehensive income (loss), net of tax (101,250) 4,078 27,882 (69,290) Balance at September 30, 2022 $ (120,816) $ 4,080 $ (207,778) $ (324,514) 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 — 7,327 — 7,327 Foreign currency translation adjustment 8,102 — 12,062 20,164 Amounts recognized from accumulated other comprehensive income (loss), net of tax — (5,773) 15,355 9,582 Net change in other comprehensive income (loss), net of tax 8,102 1,554 27,417 37,073 Balance at September 30, 2021 $ (22,999) $ 75 $ (274,928) $ (297,852) The following table presents amounts recognized from accumulated other comprehensive income (loss) for the three and nine month periods ended September 30: Three Months Ended September 30, 2022 2021 Location of Amounts Recognized in Earnings Effective portion of (gains) / losses on cash flow hedging arrangements: Interest rate swap agreements $ — $ 551 Interest expense Cross currency swap agreement (7,612) (1,793) (a) Total before taxes (7,612) (1,242) Provision for taxes (1,446) (201) Provision for taxes Total, net of taxes $ (6,166) $ (1,041) Recognition of defined benefit pension and post-retirement items: Recognition of actuarial losses and prior service cost, before taxes $ 4,173 $ 6,449 (b) Provision for taxes 896 1,361 Provision for taxes Total, net of taxes $ 3,277 $ 5,088 (a) The cross currency swap reflects an unrealized gain of $6.2 million for the three months ended September 30, 2022 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 $1.5 million recorded in interest expense for the three months ended September 30, 2022. (b) These accumulated other comprehensive income (loss) components are included in the computation of net periodic pension and post-retirement cost. See Note 11 for additional details for the three months ended September 30, 2022 and 2021. Nine Months Ended September 30, 2022 2021 Location of Amounts Recognized in Earnings Effective portion of (gains) / losses on cash flow hedging arrangements: Interest rate swap agreements $ 352 $ 1,625 Interest expense Cross currency swap agreement (18,144) (8,625) (a) Total before taxes (17,792) (7,000) Provision for taxes (3,358) (1,227) Provision for taxes Total, net of taxes $ (14,434) $ (5,773) Recognition of defined benefit pension and post-retirement items: Recognition of actuarial losses and prior service cost, before taxes $ 12,788 $ 19,460 (b) Provision for taxes 2,748 4,105 Provision for taxes Total, net of taxes $ 10,040 $ 15,355 (a) The cross currency swap reflects an unrealized gain of $15.6 million for the nine months ended September 30, 2022 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 $2.6 million recorded in interest expense for the nine months ended September 30, 2022. (b) These accumulated other comprehensive income (loss) components are included in the computation of net periodic pension and post-retirement cost. See Note 11 for additional details for the nine months ended September 30, 2022 and 2021.

Earnings Per Common Share

Earnings Per Common Share	9 Months Ended
	Sep. 30, 2022
Earnings Per Share [Abstract]
EARNINGS PER COMMON SHARE	EARNINGS PER COMMON SHARE In accordance with the treasury stock method, the Company has included the following common equivalent shares in the calculation of diluted weighted average number of common shares outstanding for the three and nine months ended September 30, relating to outstanding stock options and restricted stock units: 2022 2021 Three months ended 206,634 336,655 Nine months ended 234,382 333,358

Net Periodic Benefit Cost

Net Periodic Benefit Cost	9 Months Ended
	Sep. 30, 2022
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 September 30: U.S. Pension Benefits Non-U.S. Pension Benefits Other U.S. Post-retirement Benefits Total 2022 2021 2022 2021 2022 2021 2022 2021 Service cost, net $ 416 $ 374 $ 4,732 $ 4,858 $ — $ — $ 5,148 $ 5,232 Interest cost on projected benefit obligations 674 546 1,447 843 3 2 2,124 1,391 Expected return on plan assets (1,548) (1,494) (8,951) (8,851) — — (10,499) (10,345) Recognition of prior service cost — — (1,046) (462) (19) (18) (1,065) (480) Recognition of actuarial losses/(gains) 584 728 4,665 6,211 (8) (10) 5,241 6,929 Net periodic pension cost/(credit) $ 126 $ 154 $ 847 $ 2,599 $ (24) $ (26) $ 949 $ 2,727 Net periodic pension cost for the Company’s defined benefit pension plans and U.S. post-retirement medical plan includes the following components for the nine months ended September 30: U.S. Pension Benefits Non-U.S. Pension Benefits Other U.S. Post-retirement Benefits Total 2022 2021 2022 2021 2022 2021 2022 2021 Service cost, net $ 1,248 $ 1,122 $ 14,497 $ 14,710 $ — $ — $ 15,745 $ 15,832 Interest cost on projected benefit obligations 2,022 1,644 4,497 2,551 9 6 6,528 4,201 Expected return on plan assets (4,642) (4,482) (27,398) (26,726) — — (32,040) (31,208) Recognition of prior service cost — — (3,187) (1,398) (56) (56) (3,243) (1,454) Recognition of actuarial losses/(gains) 1,753 2,186 14,304 18,756 (23) (28) 16,034 20,914 Net periodic pension cost/(credit) $ 381 $ 470 $ 2,713 $ 7,893 $ (70) $ (78) $ 3,024 $ 8,285 As previously disclosed in the Company's Annual Report on Form 10-K for the year ended December 31, 2021, the Company expects to make employer contributions of approximately $28.2 million to its non-U.S. pension plans during the year ended December 31, 2022. These estimates may change based upon several factors, including fluctuations in currency exchange rates, actual returns on plan assets and changes in legal requirements.

Other Charges (Income), Net

Other Charges (Income), Net	9 Months Ended
	Sep. 30, 2022
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 September 30, 2022 and 2021 were $4.2 million and $2.5 million, respectively, and $12.7 million and $7.5 million for the nine months ended September 30, 2022 and 2021, respectively.

Segment Reporting

Segment Reporting	9 Months Ended
	Sep. 30, 2022
Segment Reporting [Abstract]
SEGMENT REPORTING	13. SEGMENT REPORTING As disclosed in Note 18 to the Company's consolidated financial statements for the year ended December 31, 2021, the Company has determined there are five reportable segments: U.S. Operations, Swiss Operations, Western European Operations, Chinese Operations and Other. The Company evaluates segment performance based on Segment Profit (gross profit less research and development and selling, general and administrative expenses, before amortization, interest expense, restructuring charges, other charges (income), net and taxes). The following tables show the operations of the Company’s operating segments: Net Sales to Net Sales to As of September 30, For the three months ended External Other Total Net Segment 2022 September 30, 2022 Customers Segments Sales Profit Goodwill U.S. Operations $ 373,764 $ 35,077 $ 408,841 $ 93,823 $ 514,057 Swiss Operations 40,972 207,349 248,321 77,457 21,950 Western European Operations 180,959 49,486 230,445 38,950 86,222 Chinese Operations 229,722 79,285 309,007 123,345 606 Other (a) 160,429 705 161,134 20,603 13,254 Eliminations and Corporate (b) — (371,902) (371,902) (47,008) — Total $ 985,846 $ — $ 985,846 $ 307,170 $ 636,089 Net Sales to Net Sales to For the nine months ended External Other Total Net Segment September 30, 2022 Customers Segments Sales Profit U.S. Operations $ 1,060,730 $ 114,965 $ 1,175,695 $ 261,805 Swiss Operations 126,304 611,632 737,936 220,791 Western European Operations 564,108 147,087 711,195 112,963 Chinese Operations 642,237 234,847 877,084 313,769 Other (a) 468,645 2,377 471,022 63,298 Eliminations and Corporate (b) — (1,110,908) (1,110,908) (138,779) Total $ 2,862,024 $ — $ 2,862,024 $ 833,847 (a) Other includes reporting units in Eastern Europe, Latin America, Southeast Asia and other countries. (b) Eliminations and Corporate includes the elimination of inter-segment transactions and certain corporate expenses and intercompany investments, which are not included in the Company’s operating segments. Net Sales to Net Sales to As of September 30, For the three months ended External Other Total Net Segment 2021 September 30, 2021 Customers Segments Sales Profit Goodwill U.S. Operations $ 336,708 $ 36,895 $ 373,603 $ 72,638 $ 508,942 Swiss Operations 41,850 208,411 250,261 78,454 23,319 Western European Operations 198,632 52,259 250,891 40,288 91,228 Chinese Operations 210,460 79,001 289,461 108,636 696 Other (a) 164,300 835 165,135 24,381 14,999 Eliminations and Corporate (b) — (377,401) (377,401) (51,587) — Total $ 951,950 $ — $ 951,950 $ 272,810 $ 639,184 Net Sales to Net Sales to For the nine months ended External Other Total Net Segment September 30, 2021 Customers Segments Sales Profit U.S. Operations $ 931,977 $ 112,186 $ 1,044,163 $ 215,581 Swiss Operations 121,967 594,057 716,024 212,849 Western European Operations 592,704 160,386 753,090 116,630 Chinese Operations 572,055 220,608 792,663 275,323 Other (a) 461,988 3,207 465,195 65,967 Eliminations and Corporate (b) — (1,090,444) (1,090,444) (147,612) Total $ 2,680,691 $ — $ 2,680,691 $ 738,738 (a) Other includes reporting units in Eastern Europe, Latin America, Southeast Asia and other countries. (b) Eliminations and Corporate includes the elimination of inter-segment transactions and certain corporate expenses and intercompany investments, which are not included in the Company’s operating segments. A reconciliation of earnings before taxes to segment profit for the three and nine month periods ended September 30 follows: Three Months Ended Nine Months Ended 2022 2021 2022 2021 Earnings before taxes $ 275,885 $ 247,587 $ 745,578 $ 663,385 Amortization 16,728 16,039 49,697 46,141 Interest expense 14,484 11,791 38,587 31,701 Restructuring charges 2,022 650 7,803 2,719 Other income, net (1,949) (3,257) (7,818) (5,208) Segment profit $ 307,170 $ 272,810 $ 833,847 $ 738,738

Contingencies

Contingencies	9 Months Ended
	Sep. 30, 2022
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)	9 Months Ended
	Sep. 30, 2022
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: September 30, December 31, Raw materials and parts $ 215,397 $ 184,624 Work-in-progress 80,898 76,019 Finished goods 155,025 153,900 $ 451,320 $ 414,543
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: September 30, 2022 December 31, 2021 Gross Accumulated Intangibles, Net Gross Accumulated Intangibles, Net Customer relationships $ 289,709 $ (88,707) $ 201,002 $ 282,470 $ (79,782) $ 202,688 Proven technology and patents 109,967 (60,200) $ 49,767 115,680 (56,305) 59,375 Tradenames (finite life) 7,490 (3,223) $ 4,267 8,206 (3,731) 4,475 Tradenames (indefinite life) 35,683 — $ 35,683 35,949 — 35,949 Other 13,242 (6,526) $ 6,716 10,641 (5,678) 4,963 $ 456,091 $ (158,656) $ 297,435 $ 452,946 $ (145,496) $ 307,450 The Company recognized amortization expense associated with the above intangible assets of $6.7 million and $5.7 million for the three months ended September 30, 2022 and 2021, respectively, and $20.1 million and $15.9 million for the nine months ended September 30, 2022 and 2021, respectively. The annual aggregate amortization expense based on the current balance of other intangible assets is estimated to be $25.4 million for 2022, $23.6 million for 2023, $22.8 million for 2024, $21.9 million for 2025, $19.7 million for 2026, and $18.4 million for 2027. Purchased intangible amortization was $6.4 million, $5.0 million after tax, and $5.5 million, $4.1 million after tax, for the three months ended September 30, 2022 and 2021, respectively, and $19.4 million, $15.0 million after tax, and $15.2 million, $11.5 million after tax, for the nine months ended September 30, 2022 and 2021, respectively. In addition to the above amortization, the Company recorded amortization expense associated with capitalized software of $10.0 million and $10.3 million for the three months ended September 30, 2022 and 2021, respectively, and $29.4 million and $30 million for the nine months ended September 30, 2022 and 2021, 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 $4.7 million and $13.9 million of share-based compensation expense for the three and nine months ended September 30, 2022, respectively, compared to $4.7 million and $13.9 million for the corresponding periods in 2021.
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 4 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 Company renewed the LIBOR based credit agreement, as discussed further in Note 10 of the Annual Report Form 10-K, which includes a fallback protocol when LIBOR is discontinued. Based on these procedures, when LIBOR is discontinued the interest rate and cross currency swaps will not require de-designation if certain criteria are met. The Company expects the financial impact of the rate change when LIBOR is discontinued to be immaterial to its financial statements.

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	9 Months Ended
	Sep. 30, 2022
Accounting Policies [Abstract]
Components of inventories	Inventories consisted of the following: September 30, December 31, Raw materials and parts $ 215,397 $ 184,624 Work-in-progress 80,898 76,019 Finished goods 155,025 153,900 $ 451,320 $ 414,543
Components of other intangible assets	Other intangible assets consisted of the following: September 30, 2022 December 31, 2021 Gross Accumulated Intangibles, Net Gross Accumulated Intangibles, Net Customer relationships $ 289,709 $ (88,707) $ 201,002 $ 282,470 $ (79,782) $ 202,688 Proven technology and patents 109,967 (60,200) $ 49,767 115,680 (56,305) 59,375 Tradenames (finite life) 7,490 (3,223) $ 4,267 8,206 (3,731) 4,475 Tradenames (indefinite life) 35,683 — $ 35,683 35,949 — 35,949 Other 13,242 (6,526) $ 6,716 10,641 (5,678) 4,963 $ 456,091 $ (158,656) $ 297,435 $ 452,946 $ (145,496) $ 307,450

Revenue from Contracts with C_2

Revenue from Contracts with Customers (Tables)	9 Months Ended
	Sep. 30, 2022
Revenue from Contract with Customer [Abstract]
Disaggregation of Revenue [Table Text Block]	For the three months ended September 30, 2022 U.S. Operations Swiss Operations Western European Operations Chinese Operations Other Operations Total Product Revenue $ 287,948 $ 32,366 $ 129,089 $ 212,163 $ 122,421 $ 783,987 Service Revenue: Point in time 65,596 6,401 29,071 13,543 30,248 144,859 Over time 20,220 2,205 22,799 4,016 7,760 57,000 Total $ 373,764 $ 40,972 $ 180,959 $ 229,722 $ 160,429 $ 985,846 For the three months ended September 30, 2021 U.S. Operations Swiss Operations Western European Operations Chinese Operations Other Operations Total Product Revenue $ 263,885 $ 33,612 $ 142,318 $ 193,727 $ 127,302 $ 760,844 Service Revenue: Point in time 56,325 6,092 37,524 12,680 30,120 142,741 Over time 16,498 2,146 18,790 4,053 6,878 48,365 Total $ 336,708 $ 41,850 $ 198,632 $ 210,460 $ 164,300 $ 951,950 For the nine months ended September 30, 2022 U.S. Operations Swiss Operations Western European Operations Chinese Operations Other Operations Total Product Revenue $ 816,193 $ 99,567 $ 404,060 $ 593,283 $ 357,742 $ 2,270,845 Service Revenue: Point in time 190,340 20,072 97,250 34,578 89,390 431,630 Over time 54,197 6,665 62,798 14,376 21,513 159,549 Total $ 1,060,730 $ 126,304 $ 564,108 $ 642,237 $ 468,645 $ 2,862,024 For the nine months ended September 30, 2021 U.S. Operations Swiss Operations Western European Operations Chinese Operations Other Operations Total Product Revenue $ 721,744 $ 95,797 $ 424,904 $ 525,855 $ 355,945 $ 2,124,245 Service Revenue: Point in time 162,409 19,517 110,243 34,655 87,708 414,532 Over time 47,824 6,653 57,557 11,545 18,335 141,914 Total $ 931,977 $ 121,967 $ 592,704 $ 572,055 $ 461,988 $ 2,680,691 A summary of revenue by major geographic destination for the three and nine months ended September 30 follows: Three Months Ended Nine Months Ended 2022 2021 2022 2021 Americas $ 408,207 $ 367,278 $ 1,154,602 $ 1,024,033 Europe 228,145 258,925 720,667 760,491 Asia / Rest of World 349,494 325,747 986,755 896,167 Total $ 985,846 $ 951,950 $ 2,862,024 $ 2,680,691 The Company's global revenue mix by product category is comprised of laboratory (56% of sales), industrial (39% of sales) and retail (5% 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 nine months ended September 30 is as follows: Three Months Ended Nine Months Ended 2022 2021 2022 2021 Laboratory $ 555,112 $ 536,489 $ 1,614,586 $ 1,487,222 Industrial 386,543 370,505 1,114,454 1,049,295 Retail 44,191 44,956 132,984 144,174 Total $ 985,846 $ 951,950 $ 2,862,024 $ 2,680,691
Contract with Customer, Contract Asset, Contract Liability, and Receivable [Table Text Block]	2022 2021 Beginning balances as of January 1 $ 192,648 $ 149,106 Customer pre-payments/deferred revenue 545,997 496,437 Revenue recognized (523,022) (446,775) Foreign currency translation (17,444) (3,534) Ending balance as of September 30 $ 198,179 $ 195,234

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
	Sep. 30, 2022
Fair Value Disclosures [Abstract]
Assets and liabilities measured at fair value on a recurring basis	September 30, 2022 December 31, 2021 Balance Sheet Classification Foreign currency forward contracts not designated as hedging instruments $ 4,058 $ 3,927 Other current assets and prepaid expenses Cash Flow Hedges: Cross currency swap agreement 125 — Other current assets and prepaid expenses Cross currency swap agreement 16,318 2,119 Other non-current assets Total derivative assets $ 20,501 $ 6,046 Foreign currency forward contracts not designated as hedging instruments $ 12,187 $ 4,510 Accrued and other liabilities Cash Flow Hedges: Interest rate swap agreements — 352 Accrued and other liabilities Cross currency swap agreement — 5,482 Other non-current liabilities Total derivative liabilities $ 12,187 $ 10,344

Debt (Tables)

Debt (Tables)	9 Months Ended
	Sep. 30, 2022
Debt Disclosure [Abstract]
Debt	Debt consisted of the following at September 30, 2022:

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Income (Tables)	9 Months Ended
	Sep. 30, 2022
Other Comprehensive Income (Loss), Net of Tax [Abstract]
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block]	The following table presents changes in accumulated other comprehensive income by component for the nine months ended September 30, 2022 and 2021: Currency Translation Adjustment, Net of Tax Net Unrealized Pension and Post-Retirement Benefit Related Items, Total Balance at December 31, 2021 $ (19,566) $ 2 $ (235,660) $ (255,224) Other comprehensive income (loss), net of tax: Unrealized gains (losses) cash flow hedging arrangements — 18,512 — 18,512 Foreign currency translation adjustment (101,250) — 17,842 (83,408) Amounts recognized from accumulated other comprehensive income (loss), net of tax — (14,434) 10,040 (4,394) Net change in other comprehensive income (loss), net of tax (101,250) 4,078 27,882 (69,290) Balance at September 30, 2022 $ (120,816) $ 4,080 $ (207,778) $ (324,514)
Disclosure of Reclassification Amount [Text Block]	The following table presents amounts recognized from accumulated other comprehensive income (loss) for the three and nine month periods ended September 30: Three Months Ended September 30, 2022 2021 Location of Amounts Recognized in Earnings Effective portion of (gains) / losses on cash flow hedging arrangements: Interest rate swap agreements $ — $ 551 Interest expense Cross currency swap agreement (7,612) (1,793) (a) Total before taxes (7,612) (1,242) Provision for taxes (1,446) (201) Provision for taxes Total, net of taxes $ (6,166) $ (1,041) Recognition of defined benefit pension and post-retirement items: Recognition of actuarial losses and prior service cost, before taxes $ 4,173 $ 6,449 (b) Provision for taxes 896 1,361 Provision for taxes Total, net of taxes $ 3,277 $ 5,088
Schedule of Comprehensive Income (Loss) [Table Text Block]	.

Net Periodic Benefit Cost (Tabl

Net Periodic Benefit Cost (Tables)	9 Months Ended
	Sep. 30, 2022
Retirement Benefits [Abstract]
Schedule of Net Benefit Costs [Table Text Block]	Net periodic pension cost for the Company’s defined benefit pension plans and U.S. post-retirement medical plan includes the following components for the three months ended September 30: U.S. Pension Benefits Non-U.S. Pension Benefits Other U.S. Post-retirement Benefits Total 2022 2021 2022 2021 2022 2021 2022 2021 Service cost, net $ 416 $ 374 $ 4,732 $ 4,858 $ — $ — $ 5,148 $ 5,232 Interest cost on projected benefit obligations 674 546 1,447 843 3 2 2,124 1,391 Expected return on plan assets (1,548) (1,494) (8,951) (8,851) — — (10,499) (10,345) Recognition of prior service cost — — (1,046) (462) (19) (18) (1,065) (480) Recognition of actuarial losses/(gains) 584 728 4,665 6,211 (8) (10) 5,241 6,929 Net periodic pension cost/(credit) $ 126 $ 154 $ 847 $ 2,599 $ (24) $ (26) $ 949 $ 2,727 Net periodic pension cost for the Company’s defined benefit pension plans and U.S. post-retirement medical plan includes the following components for the nine months ended September 30: U.S. Pension Benefits Non-U.S. Pension Benefits Other U.S. Post-retirement Benefits Total 2022 2021 2022 2021 2022 2021 2022 2021 Service cost, net $ 1,248 $ 1,122 $ 14,497 $ 14,710 $ — $ — $ 15,745 $ 15,832 Interest cost on projected benefit obligations 2,022 1,644 4,497 2,551 9 6 6,528 4,201 Expected return on plan assets (4,642) (4,482) (27,398) (26,726) — — (32,040) (31,208) Recognition of prior service cost — — (3,187) (1,398) (56) (56) (3,243) (1,454) Recognition of actuarial losses/(gains) 1,753 2,186 14,304 18,756 (23) (28) 16,034 20,914 Net periodic pension cost/(credit) $ 381 $ 470 $ 2,713 $ 7,893 $ (70) $ (78) $ 3,024 $ 8,285

Segment Reporting (Tables)

Segment Reporting (Tables)	9 Months Ended
	Sep. 30, 2022
Operations of the Company's operating segments	The following tables show the operations of the Company’s operating segments: Net Sales to Net Sales to As of September 30, For the three months ended External Other Total Net Segment 2022 September 30, 2022 Customers Segments Sales Profit Goodwill U.S. Operations $ 373,764 $ 35,077 $ 408,841 $ 93,823 $ 514,057 Swiss Operations 40,972 207,349 248,321 77,457 21,950 Western European Operations 180,959 49,486 230,445 38,950 86,222 Chinese Operations 229,722 79,285 309,007 123,345 606 Other (a) 160,429 705 161,134 20,603 13,254 Eliminations and Corporate (b) — (371,902) (371,902) (47,008) — Total $ 985,846 $ — $ 985,846 $ 307,170 $ 636,089 Net Sales to Net Sales to For the nine months ended External Other Total Net Segment September 30, 2022 Customers Segments Sales Profit U.S. Operations $ 1,060,730 $ 114,965 $ 1,175,695 $ 261,805 Swiss Operations 126,304 611,632 737,936 220,791 Western European Operations 564,108 147,087 711,195 112,963 Chinese Operations 642,237 234,847 877,084 313,769 Other (a) 468,645 2,377 471,022 63,298 Eliminations and Corporate (b) — (1,110,908) (1,110,908) (138,779) Total $ 2,862,024 $ — $ 2,862,024 $ 833,847 (a) Other includes reporting units in Eastern Europe, Latin America, Southeast Asia and other countries. (b) Eliminations and Corporate includes the elimination of inter-segment transactions and certain corporate expenses and intercompany investments, which are not included in the Company’s operating segments. Net Sales to Net Sales to As of September 30, For the three months ended External Other Total Net Segment 2021 September 30, 2021 Customers Segments Sales Profit Goodwill U.S. Operations $ 336,708 $ 36,895 $ 373,603 $ 72,638 $ 508,942 Swiss Operations 41,850 208,411 250,261 78,454 23,319 Western European Operations 198,632 52,259 250,891 40,288 91,228 Chinese Operations 210,460 79,001 289,461 108,636 696 Other (a) 164,300 835 165,135 24,381 14,999 Eliminations and Corporate (b) — (377,401) (377,401) (51,587) — Total $ 951,950 $ — $ 951,950 $ 272,810 $ 639,184 Net Sales to Net Sales to For the nine months ended External Other Total Net Segment September 30, 2021 Customers Segments Sales Profit U.S. Operations $ 931,977 $ 112,186 $ 1,044,163 $ 215,581 Swiss Operations 121,967 594,057 716,024 212,849 Western European Operations 592,704 160,386 753,090 116,630 Chinese Operations 572,055 220,608 792,663 275,323 Other (a) 461,988 3,207 465,195 65,967 Eliminations and Corporate (b) — (1,090,444) (1,090,444) (147,612) Total $ 2,680,691 $ — $ 2,680,691 $ 738,738 (a) Other includes reporting units in Eastern Europe, Latin America, Southeast Asia and other countries. (b) Eliminations and Corporate includes the elimination of inter-segment transactions and certain corporate expenses and intercompany investments, which are not included in the Company’s operating segments.
Reconciliation of earnings before taxes to segment profit	A reconciliation of earnings before taxes to segment profit for the three and nine month periods ended September 30 follows: Three Months Ended Nine Months Ended 2022 2021 2022 2021 Earnings before taxes $ 275,885 $ 247,587 $ 745,578 $ 663,385 Amortization 16,728 16,039 49,697 46,141 Interest expense 14,484 11,791 38,587 31,701 Restructuring charges 2,022 650 7,803 2,719 Other income, net (1,949) (3,257) (7,818) (5,208) Segment profit $ 307,170 $ 272,810 $ 833,847 $ 738,738

Summary of Significant Accoun_4

Summary of Significant Accounting Policies (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Components of inventory
Raw materials and parts	$ 215,397	$ 184,624
Work-in-progress	80,898	76,019
Finished goods	155,025	153,900
Total Inventory, Net	$ 451,320	$ 414,543

Summary of Significant Accoun_5

Summary of Significant Accounting Policies (Details 1) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Intangible Assets [Line Items]
Intangible Assets, Gross (Excluding Goodwill)	$ 456,091	$ 452,946
Accumulated Amortization	(158,656)	(145,496)
Intangible Assets, Net (Excluding Goodwill)	297,435	307,450
Tradename (indefinite life) [Member]
Intangible Assets [Line Items]
Gross amount, Tradename (indefinite life)	35,683	35,949
Intangible Assets, Net (Excluding Goodwill)	35,683	35,949
Customer Relationships [Member]
Intangible Assets [Line Items]
Gross amount	289,709	282,470
Accumulated Amortization	(88,707)	(79,782)
Intangible Assets, Net (Excluding Goodwill)	201,002	202,688
Proven technology and patents [Member]
Intangible Assets [Line Items]
Gross amount	109,967	115,680
Accumulated Amortization	(60,200)	(56,305)
Intangible Assets, Net (Excluding Goodwill)	49,767	59,375
Tradename (indefinite life) [Member]
Intangible Assets [Line Items]
Gross amount	7,490	8,206
Accumulated Amortization	(3,223)	(3,731)
Intangible Assets, Net (Excluding Goodwill)	4,267	4,475
Other Intangible Assets [Member]
Intangible Assets [Line Items]
Gross amount	13,242	10,641
Accumulated Amortization	(6,526)	(5,678)
Intangible Assets, Net (Excluding Goodwill)	$ 6,716	$ 4,963

Summary of Significant Accoun_6

Summary of Significant Accounting Policies (Details Textuals) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Summary of Significant Accounting Policies (Textuals) [Abstract]
Amortization expense	$ 6.7	$ 5.7	$ 20.1	$ 15.9
Future Amortization Expense Current Year			25.4
Aggregate amortization expense for 2020	23.6		23.6
Aggregate amortization expense for 2021	22.8		22.8
Aggregate amortization expense for 2023	21.9		21.9
Aggregate amortization expense for 2024	19.7		19.7
Aggregate amortization expense for 2025	18.4		18.4
Purchased Intangible Amortization, Gross	6.4	5.5	19.4	15.2
Purchased intangible amortization, net of tax	5	4.1	15	11.5
Amortization expense associated with capitalized software	10	10.3	29.4	30
Share - based compensation expense	$ 4.7	$ 4.7	$ 13.9	$ 13.9

Revenue from Contracts with C_3

Revenue from Contracts with Customers (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2021
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	$ 985,846	$ 951,950	$ 2,862,024	$ 2,680,691
Contract with Customer, Asset, after Allowance for Credit Loss	34,700		34,700		$ 32,100
Americas [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	408,207	367,278	1,154,602	1,024,033
Europe [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	228,145	258,925	720,667	760,491
Asia [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	349,494	325,747	986,755	896,167
Product [Member] | Transferred at Point in Time [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	783,987	760,844	2,270,845	2,124,245
Service [Member] | Transferred at Point in Time [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	144,859	142,741	431,630	414,532
Service [Member] | Transferred over Time [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	$ 57,000	48,365	$ 159,549	141,914
Laboratory products and services [Member]
Disaggregation of Revenue [Line Items]
Percentage of Disaggregated Revenue in Relationship to Segments	56%		56%
Revenue from Contract with Customer, Excluding Assessed Tax	$ 555,112	536,489	$ 1,614,586	1,487,222
Industrial products and services [Member]
Disaggregation of Revenue [Line Items]
Percentage of Disaggregated Revenue in Relationship to Segments	39%		39%
Revenue from Contract with Customer, Excluding Assessed Tax	$ 386,543	370,505	$ 1,114,454	1,049,295
Retail products and services [Member]
Disaggregation of Revenue [Line Items]
Percentage of Disaggregated Revenue in Relationship to Segments	5%		5%
Revenue from Contract with Customer, Excluding Assessed Tax	$ 44,191	44,956	$ 132,984	144,174
US Operations [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	373,764	336,708	1,060,730	931,977
US Operations [Member] | Product [Member] | Transferred at Point in Time [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	287,948	263,885	816,193	721,744
US Operations [Member] | Service [Member] | Transferred at Point in Time [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	65,596	56,325	190,340	162,409
US Operations [Member] | Service [Member] | Transferred over Time [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	20,220	16,498	54,197	47,824
Swiss Operations [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	40,972	41,850	126,304	121,967
Swiss Operations [Member] | Product [Member] | Transferred at Point in Time [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	32,366	33,612	99,567	95,797
Swiss Operations [Member] | Service [Member] | Transferred at Point in Time [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	6,401	6,092	20,072	19,517
Swiss Operations [Member] | Service [Member] | Transferred over Time [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	2,205	2,146	6,665	6,653
Western European Operations [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	180,959	198,632	564,108	592,704
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	129,089	142,318	404,060	424,904
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	29,071	37,524	97,250	110,243
Western European Operations [Member] | Service [Member] | Transferred over Time [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	22,799	18,790	62,798	57,557
Chinese Operations [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	229,722	210,460	642,237	572,055
Chinese Operations [Member] | Product [Member] | Transferred at Point in Time [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	212,163	193,727	593,283	525,855
Chinese Operations [Member] | Service [Member] | Transferred at Point in Time [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	13,543	12,680	34,578	34,655
Chinese Operations [Member] | Service [Member] | Transferred over Time [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	4,016	4,053	14,376	11,545
Other Operations [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	160,429	164,300	468,645	461,988
Other Operations [Member] | Product [Member] | Transferred at Point in Time [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	122,421	127,302	357,742	355,945
Other Operations [Member] | Service [Member] | Transferred at Point in Time [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	30,248	30,120	89,390	87,708
Other Operations [Member] | Service [Member] | Transferred over Time [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	$ 7,760	$ 6,878	$ 21,513	$ 18,335

Revenue from Contracts with C_4

Revenue from Contracts with Customers 2 (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2021	Jun. 30, 2021	Dec. 31, 2020
Revenue from Contract with Customer [Abstract]
Deferred Revenue	$ 198,179		$ 192,648	$ 195,234	$ 149,106
Contract with Customer, Asset, after Allowance for Credit Loss	34,700		$ 32,100
Customer prepayments and deferred revenue	545,997	$ 496,437
Contract with Customer, Liability, Revenue Recognized	(523,022)	(446,775)
Temporary Equity, Foreign Currency Translation Adjustments	$ (17,444)	$ (3,534)

Financial Instruments (Details)

Financial Instruments (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2021
Derivative [Line Items]
Cash Flow Hedge Gain (Loss) to be Reclassified within Twelve Months			$ 7,200,000
Designated as Hedging Instrument [Member] | June 2019 4 YR Cross Currency Swap [Member]
Derivative [Line Items]
Line Of Credit Facility Forecasted Borrowing Amount	$ 50,000,000		$ 50,000,000
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]
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]
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	$ 100,000,000		$ 100,000,000
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	$ 50,000,000		$ 50,000,000
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	$ 50,000,000		$ 50,000,000
Derivative, Fixed Interest Rate	0.66%		0.66%
Designated as Hedging Instrument [Member] | November 2021 2 YR Cross Currency Swap
Derivative [Line Items]
Line Of Credit Facility Forecasted Borrowing Amount	$ 50,000,000		$ 50,000,000
Derivative, Fixed Interest Rate	0.64%		0.64%
Not Designated as Hedging Instrument [Member]
Derivative [Line Items]
Gain (Loss) on Foreign Currency Derivative Instruments Not Designated as Hedging Instruments	$ 20,900,000	$ 3,300,000	$ 29,300,000	$ 16,500,000
Derivative, Notional Amount	$ 757,500		$ 757,500		$ 1,000,000,000

Fair Value Measurements (Detail

Fair Value Measurements (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021	Mar. 24, 2021
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash Equivalents, at Carrying Value	$ 26,600	$ 18,500
Fair Value, Inputs, Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Business Combination, Contingent Consideration, Liability			$ 10,000
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	20,501	6,046
Derivative Liability	12,187	10,344
Foreign Currency Derivative Instruments Not Designated as Hedging Instruments, Asset at Fair Value	4,058	3,927
Foreign Currency Cash Flow Hedge Asset at Fair Value	16,318	2,119
Foreign Currency Derivative Instruments Not Designated as Hedging Instruments, Liability at Fair Value	12,187	4,510
Interest Rate Swap Short Term	0	352
Foreign Currency Cash Flow Hedge Liability at Fair Value	0	$ 5,482
Change in Carrying Value Verse Fair Value of Long Term Debt	$ 242,300

Income Taxes (Details)

Income Taxes (Details)	3 Months Ended		9 Months Ended
	Sep. 30, 2022 Rate	Sep. 30, 2021 Rate	Sep. 30, 2022 Rate	Sep. 30, 2021 Rate
Effective Income Tax Rate Reconciliation, Percent	20%	17.70%	18.60%	18.90%
Annual Effective Tax Rate before recurring discrete tax items			19%	19.50%

Debt (Details)

Debt (Details) € in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022 USD ($) Rate	Sep. 30, 2021 USD ($)	Sep. 30, 2022 USD ($) Rate	Sep. 30, 2021 USD ($)	Sep. 30, 2022 EUR (€) Rate	Dec. 31, 2021 USD ($)
Long-Term Debt, by Current and Noncurrent, and Short-Term Debt
Senior Notes	$ 1,266,608		$ 1,266,608
Unamortized Debt Issuance Expense	(3,919)		(3,919)
Line of Credit Facility, Fair Value of Amount Outstanding	654,955		654,955
Total debt	1,978,892		1,978,892
Debt, Current	(153,639)		(153,639)
Long-term Debt	1,825,253		1,825,253
Line of Credit Facility, Remaining Borrowing Capacity	589,300		589,300
Cash and Cash Equivalents, at Carrying Value	122,136		122,136			$ 98,564
Gain (Loss) on Derivative Used in Net Investment Hedge, after Tax	35,800	$ 9,400	66,200	$ 21,200
Cumulative (gain) loss in other other comprehensive income related to the change in a net investment hedge.	71,700		71,700
Us Dollar Amounts Member
Long-Term Debt, by Current and Noncurrent, and Short-Term Debt
Senior Notes	897,602		897,602
Unamortized Debt Issuance Expense	(2,398)		(2,398)
Line of Credit Facility, Fair Value of Amount Outstanding	495,806		495,806
Total debt	1,397,971		1,397,971
Debt, Current	(100,983)		(100,983)
Long-term Debt	1,296,988		1,296,988
Other Principal Trading Currencies [Member]
Long-Term Debt, by Current and Noncurrent, and Short-Term Debt
Senior Notes	369,006		369,006
Unamortized Debt Issuance Expense	(1,521)		(1,521)
Line of Credit Facility, Fair Value of Amount Outstanding	159,149		159,149
Total debt	580,921		580,921
Debt, Current	(52,656)		(52,656)
Long-term Debt	$ 528,265		$ 528,265
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	$ 120,301		$ 120,301
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	$ 120,301		$ 120,301
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	$ 129,925		$ 129,925
Debt Instrument, Maturity Date			Nov. 06, 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	$ 129,925		$ 129,925
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	57,329		57,329
Other local arrangements [Member] | Us Dollar Amounts Member
Long-Term Debt, by Current and Noncurrent, and Short-Term Debt
Other Borrowings	4,563		4,563
Other local arrangements [Member] | Other Principal Trading Currencies [Member]
Long-Term Debt, by Current and Noncurrent, and Short-Term Debt
Other Borrowings	$ 52,766		$ 52,766
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	120,301		120,301
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	$ 120,301		$ 120,301
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	$ 125,000		$ 125,000
Debt Instrument, Term			12 years
2.83% Senior Notes | Us Dollar Amounts Member
Long-Term Debt, by Current and Noncurrent, and Short-Term Debt
Senior Notes	125,000		$ 125,000
2.83% Senior Notes | Other Principal Trading Currencies [Member]
Long-Term Debt, by Current and Noncurrent, and Short-Term Debt
Senior Notes	$ 0		$ 0
2.81% Senior Note
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage | Rate	2.81%		2.81%		2.81%
Debt Instrument, Maturity Date			Mar. 27, 2037
Long-Term Debt, by Current and Noncurrent, and Short-Term Debt
Senior Notes	$ 150,000		$ 150,000
Debt Instrument, Term			15 years
2.81% Senior Note | Us Dollar Amounts Member
Long-Term Debt, by Current and Noncurrent, and Short-Term Debt
Senior Notes	150,000		$ 150,000
2.81% Senior Note | Other Principal Trading Currencies [Member]
Long-Term Debt, by Current and Noncurrent, and Short-Term Debt
Senior Notes	$ 0		$ 0
2.91% Senior Note
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage | Rate	2.91%		2.91%		2.91%
Debt Instrument, Maturity Date			Sep. 01, 2037
Long-Term Debt, by Current and Noncurrent, and Short-Term Debt
Senior Notes	$ 150,000		$ 150,000
Debt Instrument, Term			15 years

Share Repurchase Program and _2

Share Repurchase Program and Treasury Stock (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended						9 Months Ended
	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Sep. 30, 2022	Sep. 30, 2021
Share Repurchase Program and Treasury Stock (Textuals) [Abstract]
Remaining Amount to Repurchase under the program	$ 1,200,000						$ 1,200,000
Shares Purchased Under Share Repurchase Program	30,800,000						30,800,000
Treasury Stock, Value, Acquired, Cost Method	$ 275,000	$ 274,999	$ 275,000	$ 252,499	$ 212,499	$ 262,500	$ 825,000	$ 727,500
Number of shares repurchased							(629,380)	(557,310)
Average price of share repurchased, per share							$ 1,310.79	$ 1,305.35
Exercise of stock options and restricted stock units, shares reissued							80,466	71,124
Stock Repurchase Program, Additional Authorized Amount							$ 2,500,000

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Income (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Accumulated Translation Adjustment [Member]
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest, Beginning Balance	$ (19,566)	$ (31,101)
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax	0	0
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment, Net of Tax	(101,250)	8,102
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax	0	0
Other Comprehensive Income (Loss), Net of Tax	(101,250)	8,102
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	(120,816)	(22,999)
Accumulated Gain (Loss), Net, Cash Flow Hedge, Parent [Member]
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest, Beginning Balance	2	(1,479)
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax	18,512	7,327
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	(14,434)	(5,773)
Other Comprehensive Income (Loss), Net of Tax	4,078	1,554
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	4,080	75
Accumulated Defined Benefit Plans Adjustment [Member]
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest, Beginning Balance	(235,660)	(302,345)
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax	0	0
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment, Net of Tax	17,842	12,062
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax	10,040	15,355
Other Comprehensive Income (Loss), Net of Tax	27,882	27,417
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	(207,778)	(274,928)
AOCI Attributable to Parent [Member]
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest, Beginning Balance	(255,224)	(334,925)
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax	18,512	7,327
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment, Net of Tax	(83,408)	20,164
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax	(4,394)	9,582
Other Comprehensive Income (Loss), Net of Tax	(69,290)	37,073
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	$ (324,514)	$ (297,852)

Accumulated Other Comprehensi_4

Accumulated Other Comprehensive Income (Details 2) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Unrealized Gain (Loss) on Foreign Currency Derivatives, Net, before Tax	$ 7,612	$ 1,242	$ 17,792	$ 7,000
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), before Reclassification, Tax	(1,446)	(201)	(3,358)	(1,227)
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), after Reclassification and Tax	6,166	1,041	14,434	5,773
Other Comprehensive Income (Loss), Pension and Other Postretirement Benefit Plans, Adjustment, before Tax, Portion Attributable to Parent	4,173	6,449	12,788	19,460
Other Comprehensive Income (Loss), Pension and Other Postretirement Benefit Plans, Tax, Portion Attributable to Parent	896	1,361	2,748	4,105
Other Comprehensive Income (Loss), Pension and Other Postretirement Benefit Plans, Adjustment, Net of Tax	3,277	5,088	10,040	15,355
Interest Rate Swap [Member]
Interest Rate Cash Flow Hedge Gain (Loss) Reclassified to Earnings, Net	0	551	352	1,625
Cross Currency Swap [Member]
Interest Rate Cash Flow Hedge Gain (Loss) Reclassified to Earnings, Net	(7,612)	$ (1,793)	(18,144)	$ (8,625)
Foreign Currency Transaction Gain (Loss), Unrealized	6,200		15,600
Interest Income, Other	$ 1,500		$ 2,600

Accumulated Other Comprehensi_5

Accumulated Other Comprehensive Income (Details 3) - USD ($) $ in Thousands	3 Months Ended						9 Months Ended
	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Sep. 30, 2022	Sep. 30, 2021
Net earnings	$ 220,597	$ 212,070	$ 174,001	$ 203,688	$ 184,763	$ 149,663	$ 606,668	$ 538,114
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent	(42,149)	$ (31,491)	$ 4,350	4,740	$ 9,152	$ 23,181	(69,290)	37,073
Comprehensive Income, Net of Tax (Note 9)	$ 178,448			$ 208,428			$ 537,378	$ 575,187

Earnings Per Common Share (Deta

Earnings Per Common Share (Details) - shares	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Incremental Weighted Average Shares Attributable to Dilutive Effect [Abstract]
Weighted Average Number of Shares Outstanding, Diluted, Total	206,634	336,655	234,382	333,358
Antidilutive Shares Outstanding
Weighted Average Number of Shares Outstanding, Antidilutive, Total	39,214		38,870	20,384

Net Periodic Benefit Cost (Deta

Net Periodic Benefit Cost (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Defined Benefit Plan Disclosure [Line Items]
Service cost, net	$ 5,148	$ 5,232	$ 15,745	$ 15,832
Interest cost on projected benefit obligations	2,124	1,391	6,528	4,201
Expected return on plan assets	(10,499)	(10,345)	(32,040)	(31,208)
Recognition of prior service cost	(1,065)	(480)	(3,243)	(1,454)
Recognition of actuarial losses/(gains)	5,241	6,929	16,034	20,914
Net periodic pension cost/(credit)	949	2,727	3,024	8,285
Pension Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Service cost, net	416	374	1,248	1,122
Interest cost on projected benefit obligations	674	546	2,022	1,644
Expected return on plan assets	(1,548)	(1,494)	(4,642)	(4,482)
Recognition of prior service cost	0	0	0	0
Recognition of actuarial losses/(gains)	584	728	1,753	2,186
Net periodic pension cost/(credit)	126	154	381	470
Other Pension Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Service cost, net	4,732	4,858	14,497	14,710
Interest cost on projected benefit obligations	1,447	843	4,497	2,551
Expected return on plan assets	(8,951)	(8,851)	(27,398)	(26,726)
Recognition of prior service cost	(1,046)	(462)	(3,187)	(1,398)
Recognition of actuarial losses/(gains)	4,665	6,211	14,304	18,756
Net periodic pension cost/(credit)	847	2,599	2,713	7,893
Defined Benefit Plan, Expected Future Employer Contributions, Current Fiscal Year, Description	28,200		28,200
Other Postretirement Benefits Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Service cost, net	0	0	0	0
Interest cost on projected benefit obligations	3	2	9	6
Expected return on plan assets	0	0	0	0
Recognition of prior service cost	(19)	(18)	(56)	(56)
Recognition of actuarial losses/(gains)	(8)	(10)	(23)	(28)
Net periodic pension cost/(credit)	$ (24)	$ (26)	$ (70)	$ (78)

Other Charges , Net Other Charg

Other Charges , Net Other Charges, Net (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Other Income and Expenses [Abstract]
Non-service pension costs (benefits)	$ 4,200,000	$ 2,500,000	$ 12,700,000	$ 7,500,000
Business Combination, Acquisition Related Costs			$ 700,000	$ 2.8

Segment Reporting (Details)

Segment Reporting (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2021	Dec. 31, 2020
Operations of the Company's operating segments
Net Sales to External Customers	$ 985,846	$ 951,950	$ 2,862,024	$ 2,680,691
Revenue Transactions With Other Operating Segments	0	0	0	0
Net Sales	985,846	951,950	2,862,024	2,680,691
Segment Profit	307,170	272,810	833,847	738,738
Goodwill	636,089		636,089		$ 648,622	$ 639,184
Swiss Operations [Member]
Operations of the Company's operating segments
Net Sales to External Customers	40,972	41,850	126,304	121,967
Revenue Transactions With Other Operating Segments	207,349	208,411	611,632	594,057
Net Sales	248,321	250,261	737,936	716,024
Segment profit	77,457	78,454	220,791	212,849
Goodwill	21,950		21,950			23,319
Western European Operations [Member]
Operations of the Company's operating segments
Net Sales to External Customers	180,959	198,632	564,108	592,704
Revenue Transactions With Other Operating Segments	49,486	52,259	147,087	160,386
Net Sales	230,445	250,891	711,195	753,090
Segment profit	38,950	40,288	112,963	116,630
Goodwill	86,222		86,222			91,228
Chinese Operations [Member]
Operations of the Company's operating segments
Net Sales to External Customers	229,722	210,460	642,237	572,055
Revenue Transactions With Other Operating Segments	79,285	79,001	234,847	220,608
Net Sales	309,007	289,461	877,084	792,663
Segment profit	123,345	108,636	313,769	275,323
Goodwill	606		606			696
Other Operations [Member]
Operations of the Company's operating segments
Net Sales to External Customers	160,429	164,300	468,645	461,988
Revenue Transactions With Other Operating Segments	705	835	2,377	3,207
Net Sales	161,134	165,135	471,022	465,195
Segment profit	20,603	24,381	63,298	65,967
Goodwill	13,254		13,254			14,999
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	(371,902)	(377,401)	(1,110,908)	(1,090,444)
Net Sales	(371,902)	(377,401)	(1,110,908)	(1,090,444)
Segment profit	(47,008)	(51,587)	(138,779)	(147,612)
Goodwill	0		0			0
US Operations [Member]
Operations of the Company's operating segments
Net Sales to External Customers	373,764	336,708	1,060,730	931,977
Revenue Transactions With Other Operating Segments	35,077	36,895	114,965	112,186
Net Sales	408,841	373,603	1,175,695	1,044,163
Segment profit	93,823	$ 72,638	261,805	$ 215,581
Goodwill	$ 514,057		$ 514,057			$ 508,942

Segment Reporting (Details 1)

Segment Reporting (Details 1) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Reconciliation of earnings before taxes to segment profit
Amortization	$ 16,728	$ 16,039	$ 49,697	$ 46,141
Interest expense	14,484	11,791	38,587	31,701
Restructuring Charges	2,022	650	7,803	2,719
Other charges (income), net	(1,949)	(3,257)	(7,818)	(5,208)
Segment Profit Information	307,170	272,810	833,847	738,738
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest, Total	$ 275,885	$ 247,587	$ 745,578	$ 663,385

Segment Reporting (Details Text

Segment Reporting (Details Textuals) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Segment Reporting (Textuals) [Abstract]
Restructuring Charges	$ 2,022	$ 650	$ 7,803	$ 2,719