Mettler-Toledo International (MTD) 10-Q 2 Aug 24 2024 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information Document	6 Months Ended
	Jun. 30, 2024
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2024
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 Central Index Key	0001037646
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q2
Current Fiscal Year End Date	--12-31
Amendment Flag	false

Interim Consolidated Statements

Interim Consolidated Statements of Operations (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Revenues	$ 946,750	$ 982,117	$ 1,872,699	$ 1,910,855
Gross profit	565,668	583,543	1,113,801	1,130,109
Research and development	45,771	47,245	92,186	92,722
Selling, general and administrative	235,796	228,594	470,186	463,232
Amortization	18,178	18,042	36,406	35,821
Interest expense	18,950	19,249	38,182	37,433
Restructuring Charges	5,329	8,021	14,993	12,295
Other charges (income), net	(1,533)	(1,011)	(1,876)	(1,407)
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest, Total	243,177	263,403	463,724	490,013
Provision for taxes	21,363	49,476	64,401	87,660
Net earnings	$ 221,814	$ 213,927	$ 399,323	$ 402,353
Basic earnings per common share:
Net earnings	$ 10.42	$ 9.75	$ 18.70	$ 18.28
Weighted average number of common shares	21,279,006	21,944,645	21,358,339	22,013,662
Diluted earnings per common share:
Net earnings	$ 10.37	$ 9.69	$ 18.60	$ 18.15
Weighted average number of common and common equivalent shares	21,392,550	22,080,602	21,468,995	22,164,394
Comprehensive Income, Net of Tax (Note 9)	$ 209,521	$ 175,227	$ 408,771	$ 362,370
Product [Member]
Revenues	712,260	758,971	1,413,228	1,474,972
Cost of Goods and Services Sold	270,571	296,953	542,498	582,704
Service [Member]
Revenues	234,490	223,146	459,471	435,883
Cost of Goods and Services Sold	$ 110,511	$ 101,621	$ 216,400	$ 198,042

Interim Consolidated Balance Sh

Interim Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Current assets:
Cash and cash equivalents	$ 70,810	$ 69,807
Trade accounts receivable, less allowances	634,710	663,893
Inventories	366,395	385,865
Other current assets and prepaid expenses	106,392	110,638
Total current assets	1,178,307	1,230,203
Property, plant and equipment, net	768,664	803,374
Goodwill	665,359	670,108
Other intangible assets, net	268,154	285,429
Deferred tax assets, net	30,554	31,199
Other non-current assets	338,126	335,242
Total assets	3,249,164	3,355,555
Current liabilities:
Trade accounts payable	199,462	210,411
Accrued and other liabilities	180,881	196,138
Accrued compensation and related items	157,416	160,308
Deferred Revenue	214,205	202,022
Taxes payable	217,972	219,984
Short-term borrowings and current maturities of long-term debt	311,246	192,219
Total current liabilities	1,281,182	1,181,082
Long-term debt	1,746,638	1,888,620
Deferred tax liabilities, net	101,741	108,679
Other non-current liabilities	272,365	327,112
Total liabilities	3,401,926	3,505,493
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	881,814	871,110
Treasury stock at cost (20,991,448 shares at September 30, 2020 and 20,660,694 shares at December 31, 2019)	(8,634,576)	(8,212,437)
Retained earnings	7,909,919	7,510,756
Accumulated other comprehensive loss	(310,367)	(319,815)
Total shareholders' equity	(152,762)	(149,938)
Total liabilities and shareholders' equity	$ 3,249,164	$ 3,355,555

Balance Sheet Parentheticals (P

Balance Sheet Parentheticals (Parentheticals) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Accounts Receivable, Allowance for Credit Loss, Current	$ 19,411	$ 22,427
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	21,683,802	22,139,009
Treasury Stock, Common, Shares	23,102,209	22,647,002

Interim Consolidated Statemen_2

Interim Consolidated Statements of Shareholders' Equity and Comprehensive Income (Unaudited) - USD ($) $ in Thousands	Total	Common Stock	Additional Paid-in Capital	Retained Earnings	Accumulated Other Comprehensive Income (Loss)	Treasury Stock, Common
Beginning balance at Dec. 31, 2022	$ 24,793	$ 448	$ 850,368	$ 6,726,866	$ (227,233)	$ (7,325,656)
Beginning balance, shares at Dec. 31, 2022		22,139,009
Stock Issued During Period, Value, Treasury Stock Reissued	(11,473)		(1,278)	(2,525)		(12,720)
Exercise of stock options and restricted stock units, shares		47,849
Treasury Stock, Value, Acquired, Cost Method						(249,999)
Repurchases of common stock, shares		(166,628)
Excise tax on net repurchases of common stock						1,906
Adjustment to Additional Paid in Capital, Share-Based Compensation			4,027
Net earnings	213,927			188,426
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent					(1,283)
Ending balance at Mar. 31, 2023	(24,469)	$ 448	855,673	6,912,767	(228,516)	(7,564,841)
Ending balance, shares at Mar. 31, 2023		22,020,230
Beginning balance at Dec. 31, 2022	$ 24,793	$ 448	850,368	6,726,866	(227,233)	(7,325,656)
Beginning balance, shares at Dec. 31, 2022		22,139,009
Exercise of stock options and restricted stock units, shares	70,191
Treasury Stock, Value, Acquired, Cost Method	$ (500,000)
Repurchases of common stock, shares	(344,382)
Net earnings	$ 402,353
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent	(39,983)
Ending balance at Jun. 30, 2023	(89,705)	$ 448	861,404	7,126,687	(267,216)	(7,811,028)
Ending balance, shares at Jun. 30, 2023		21,864,818
Beginning balance at Mar. 31, 2023	(24,469)	$ 448	855,673	6,912,767	(228,516)	(7,564,841)
Beginning balance, shares at Mar. 31, 2023		22,020,230
Stock Issued During Period, Value, Treasury Stock Reissued	(7,614)		(1,536)	(7)		(6,085)
Exercise of stock options and restricted stock units, shares		22,342
Treasury Stock, Value, Acquired, Cost Method	(250,000)					(250,000)
Repurchases of common stock, shares		(177,754)
Excise tax on net repurchases of common stock						2,272
Adjustment to Additional Paid in Capital, Share-Based Compensation	4,195		4,195
Net earnings	213,927			213,927
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent	(38,700)				(38,700)
Ending balance at Jun. 30, 2023	(89,705)	$ 448	861,404	7,126,687	(267,216)	(7,811,028)
Ending balance, shares at Jun. 30, 2023		21,864,818
Beginning balance at Dec. 31, 2023	$ (149,938)	$ 448	871,110	7,510,756	(319,815)	(8,212,437)
Beginning balance, shares at Dec. 31, 2023	22,139,009	21,526,172
Stock Issued During Period, Value, Treasury Stock Reissued	$ (1,831)		(585)	(160)		(1,406)
Exercise of stock options and restricted stock units, shares		4,898
Treasury Stock, Value, Acquired, Cost Method	(212,499)					(212,499)
Repurchases of common stock, shares		(173,700)
Excise tax on net repurchases of common stock						2,083
Adjustment to Additional Paid in Capital, Share-Based Compensation	4,722		4,722
Net earnings	177,509			177,509
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent	21,741				21,741
Ending balance at Mar. 31, 2024	(158,717)	$ 448	876,417	7,688,105	(298,074)	(8,425,613)
Ending balance, shares at Mar. 31, 2024		21,357,370
Beginning balance at Dec. 31, 2023	$ (149,938)	$ 448	871,110	7,510,756	(319,815)	(8,212,437)
Beginning balance, shares at Dec. 31, 2023	22,139,009	21,526,172
Exercise of stock options and restricted stock units, shares	23,538
Treasury Stock, Value, Acquired, Cost Method	$ (425,000)
Repurchases of common stock, shares	(330,492)
Net earnings	$ 399,323
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent	9,448
Ending balance at Jun. 30, 2024	$ (152,762)	$ 448	881,814	7,909,919	(310,367)	(8,634,576)
Ending balance, shares at Jun. 30, 2024	21,683,802	21,219,218
Beginning balance at Mar. 31, 2024	$ (158,717)	$ 448	876,417	7,688,105	(298,074)	(8,425,613)
Beginning balance, shares at Mar. 31, 2024		21,357,370
Stock Issued During Period, Value, Treasury Stock Reissued	(6,305)		(856)	0		(5,449)
Exercise of stock options and restricted stock units, shares		18,640
Treasury Stock, Value, Acquired, Cost Method	(212,499)					(212,499)
Repurchases of common stock, shares		(156,792)
Excise tax on net repurchases of common stock						1,913
Adjustment to Additional Paid in Capital, Share-Based Compensation	4,541		4,541
Net earnings	221,814			221,814
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent	(12,293)				(12,293)
Ending balance at Jun. 30, 2024	$ (152,762)	$ 448	$ 881,814	$ 7,909,919	$ (310,367)	$ (8,634,576)
Ending balance, shares at Jun. 30, 2024	21,683,802	21,219,218

Interim Consolidated Statemen_3

Interim Consolidated Statements of Cash Flows (Unaudited) - USD ($)	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Cash flows from operating activities:
Net earnings	$ 399,323,000	$ 402,353,000
Adjustments to reconcile net earnings to net cash provided by operating activities:
Depreciation	24,873,000	24,217,000
Amortization	36,406,000	35,821,000
Deferred tax benefit	(3,837,000)	(1,766,000)
Share-based compensation	9,263,000	8,222,000
Increase (decrease) in cash resulting from changes in:
Trade accounts receivable, net	7,404,000	60,460,000
Inventories	3,083,000	47,746,000
Other current assets	(6,190,000)	4,057,000
Trade accounts payable	(4,862,000)	(76,707,000)
Taxes payable	10,055,000	13,249,000
Increase (Decrease) in Other Operating Assets and Liabilities, Net	(5,043,000)	(97,579,000)
Net cash provided by operating activities	447,493,000	420,073,000
Cash flows from investing activities:
Proceeds from sale of property, plant and equipment	668,000	412,000
Purchase of property, plant and equipment	(41,201,000)	(51,947,000)
Proceeds from government funding	0	1,264,000
Acquisitions	(2,473,000)	(613,000)
Net cash used in investing activities	(30,767,000)	(65,298,000)
Cash flows from financing activities:
Proceeds from borrowings	1,022,578,000	1,080,921,000
Repayments of borrowings	(1,017,192,000)	(958,731,000)
Proceeds from stock option exercises	8,136,000	19,087,000
Repurchases of common stock	(424,998,000)	(499,999,000)
Payment for Contingent Consideration Liability, Financing Activities	0	5,626,000
Proceeds from (Payments for) Other Financing Activities	(1,910,000)	(714,000)
Net cash used in financing activities	(413,386,000)	(365,062,000)
Effect of Exchange Rate on Cash, Cash Equivalents, Restricted Cash, and Restricted Cash Equivalents, Continuing Operations	(2,337,000)	(2,105,000)
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect	1,003,000	(12,392,000)
Beginning of period	69,807,000	95,966,000
End of period	70,810,000	83,574,000
Cash and cash equivalents:	$ 1,003,000	$ (12,392,000)

Basis of Presentation

Basis of Presentation	6 Months Ended
	Jun. 30, 2024
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, the United States and Mexico. 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, 2023. The accompanying interim consolidated financial statements reflect all adjustments which, in the opinion of management, are necessary for a fair statement of the results of the interim periods presented. Operating results for the three and six months ended June 30, 2024 are not necessarily indicative of the results to be expected for the full year ending December 31, 2024. The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, as well as disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting periods. These financial statements were prepared using information reasonably available as of June 30, 2024 and through the date of this report. Actual results may differ from those estimates due to uncertainty around ongoing developments in Ukraine, the Israel-Hamas war, as well as other factors. All intercompany transactions and balances have been eliminated.

Summary of Significant Accounti

Summary of Significant Accounting Policies	6 Months Ended
	Jun. 30, 2024
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Trade Accounts Receivable Trade accounts receivable are recorded at the invoiced amount and do not bear interest. The allowance for expected credit losses represents the Company’s best estimate based on historical information, current information, and reasonable and supportable forecasts of future events and circumstances. Inventories Inventories are valued at the lower of cost or net realizable value. Cost, which includes direct materials, labor and overhead, is generally determined using the first in, first out (FIFO) method. The estimated net realizable value is based on assumptions for future demand and related pricing. Adjustments to the cost basis of the Company’s inventory are made for excess and obsolete items based on usage, orders and technological obsolescence. If actual market conditions are less favorable than those projected by management, reductions in the value of inventory may be required. Inventories consisted of the following: June 30, December 31, Raw materials and parts $ 171,135 $ 180,352 Work-in-progress 72,982 81,181 Finished goods 122,278 124,332 $ 366,395 $ 385,865 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 assets are less than its carrying amount. Other intangible assets include indefinite-lived assets and assets subject to amortization. Where applicable, amortization is charged on a straight-line basis over the expected period of benefit. The straight-line method of amortization reflects an appropriate allocation of the cost of the intangible assets to earnings in proportion to the amount of economic benefits obtained by the Company in each reporting period. The Company assesses the initial acquisition of intangible assets in accordance with the provisions of ASC 805 "Business Combinations" and the continued accounting for previously recognized intangible assets and goodwill in accordance with the provisions of ASC 350 "Intangible - Goodwill and Other" and ASC 360 "Property, Plant and Equipment". Other intangible assets consisted of the following: June 30, 2024 December 31, 2023 Gross Accumulated Intangibles, Net Gross Accumulated Intangibles, Net Customer relationships $ 286,191 $ (109,880) $ 176,311 $ 294,180 $ (107,665) $ 186,515 Proven technology and patents 126,154 (76,770) 49,384 129,227 (75,014) 54,213 Tradenames (finite life) 7,762 (4,869) 2,893 7,908 (4,535) 3,373 Tradenames (indefinite life) 35,104 — 35,104 36,320 — 36,320 Other 12,411 (7,949) 4,462 13,236 (8,228) 5,008 $ 467,622 $ (199,468) $ 268,154 $ 480,871 $ (195,442) $ 285,429 The Company recognized amortization expense associated with the above intangible assets of $6.7 million and $6.9 million for the three months ended June 30, 2024 and 2023, respectively, and $13.6 million and $13.8 million for the six months ended June 30, 2024 and 2023, respectively. The annual aggregate amortization expense based on the current balance of other intangible assets is estimated to be $27.2 million for 2024, $26.2 million for 2025, $22.2 million for 2026, $20.7 million for 2027, $19.4 million for 2028, and $17.7 million for 2029. Purchased intangible amortization was $6.5 million, $5.0 million after tax, and $6.7 million, $5.2 million after tax, for the three months ended June 30, 2024 and 2023, respectively, and $13.1 million, $10.1 million after tax, and $13.3 million, $10.3 million after tax, for the six months ended June 30, 2024 and 2023, respectively. In addition to the above amortization, the Company recorded amortization expense associated with capitalized software of $11.4 million and $11.1 million for the three months ended June 30, 2024 and 2023, respectively, and $22.7 million and $22.0 million for the six months ended June 30, 2024 and 2023, 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. 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 $4.5 million and $9.3 million of share-based compensation expense for the three and six months ended June 30, 2024, respectively, compared to $4.2 million and $8.2 million for the corresponding periods in 2023. 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, January 2021 and December 2022, the FASB issued ASU 2020-04, ASU 2021-01 and ASU 2022-06: 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, 2024. The Company amended its credit agreement and cross currency swap agreements in June 2023 to change the interest rate benchmark from LIBOR to SOFR and other non-U.S. dollar references, which did not change the amount or timing of cash flows. As a result, the discontinuation of LIBOR did not have a material impact on the Company's financial statements. In November 2023, the FASB issued ASU 2023-07: Improvements to Reportable Segment Disclosures which requires incremental disclosures about a public entity's reportable segments but does not change the definition of a segment or the guidance for determining reportable segments. The Company will adopt the annual disclosure requirements in 2024 and is currently evaluating the impact of these requirements on the consolidated financial statements. In December 2023, the FASB issued ASU 2023-09: Improvements to Income Tax Disclosures, which enhances income tax disclosures, especially related to the rate reconciliation and income taxes paid information. The Company will adopt the annual disclosure requirements in 2025 and is currently evaluating the impact of these requirements on the consolidated financial statements.

Revenue from Contracts with Cus

Revenue from Contracts with Customers (Notes)	6 Months Ended
	Jun. 30, 2024
Revenue from Contract with Customer [Abstract]
Revenue from Contract with Customer [Text Block]	REVENUE The Company disaggregates revenue from contracts with customers by product, service, timing of revenue recognition and geography. A summary of revenue by the Company’s reportable segments for the three and six months ended June 30, 2024 and 2023 follows: For the three months ended June 30, 2024 U.S. Operations Swiss Operations Western European Operations Chinese Operations Other Operations Total Product Revenue $ 264,345 $ 39,418 $ 137,113 $ 148,436 $ 122,948 $ 712,260 Service Revenue: Point in time 73,839 7,615 43,218 11,753 34,614 171,039 Over time 24,031 3,152 21,982 4,195 10,091 63,451 Total $ 362,215 $ 50,185 $ 202,313 $ 164,384 $ 167,653 $ 946,750 For the three months ended June 30, 2023 U.S. Operations Swiss Operations Western European Operations Chinese Operations Other Operations Total Product Revenue $ 265,881 $ 36,662 $ 130,404 $ 204,259 $ 121,765 $ 758,971 Service Revenue: Point in time 72,250 7,246 40,831 13,020 32,142 165,489 Over time 20,984 2,895 20,840 4,390 8,548 57,657 Total $ 359,115 $ 46,803 $ 192,075 $ 221,669 $ 162,455 $ 982,117 For the six months ended June 30, 2024 U.S. Operations Swiss Operations Western European Operations Chinese Operations Other Operations Total Product Revenue $ 515,081 $ 83,039 $ 288,648 $ 277,447 $ 249,013 $ 1,413,228 Service Revenue: Point in time 146,973 15,379 86,039 21,654 65,824 335,869 Over time 46,284 6,017 42,391 8,481 20,429 123,602 Total $ 708,338 $ 104,435 $ 417,078 $ 307,582 $ 335,266 $ 1,872,699 For the six months ended June 30, 2023 U.S. Operations Swiss Operations Western European Operations Chinese Operations Other Operations Total Product Revenue $ 512,410 $ 73,123 $ 271,111 $ 374,689 $ 243,639 $ 1,474,972 Service Revenue: Point in time 142,875 14,707 81,996 24,368 62,187 326,133 Over time 41,231 5,342 38,392 8,380 16,405 109,750 Total $ 696,516 $ 93,172 $ 391,499 $ 407,437 $ 322,231 $ 1,910,855 A breakdown of net sales to external customers by geographic customer destination for the three and six months ended June 30 follows: Three Months Ended Six Months Ended 2024 2023 2024 2023 Americas $ 404,030 $ 396,897 $ 788,373 $ 768,970 Europe 258,836 246,340 532,697 500,314 Asia / Rest of World 283,884 338,880 551,629 641,571 Total $ 946,750 $ 982,117 $ 1,872,699 $ 1,910,855 The Company's glo bal revenue mix by product category is 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 breakdown of the Company’s sales by p roduct category for the three and six months ended June 30 is as follows: Three Months Ended Six Months Ended 2024 2023 2024 2023 Laboratory $ 523,233 $ 526,699 $ 1,048,288 $ 1,046,730 Industrial 374,257 399,001 726,102 754,181 Retail 49,260 56,417 98,309 109,944 Total $ 946,750 $ 982,117 $ 1,872,699 $ 1,910,855 The payment terms in the Company’s contracts with customers do not exceed one year and therefore contracts do not contain a significant financing component. In most cases, after appropriate credit evaluations, payments are due in arrears and are recognized as receivables. Unbilled revenue is recorded when performance obligations have been satisfied, but not yet billed to the customer. Unbilled revenue as of June 30, 2024 and December 31, 2023 was $39.4 million and $35.7 million, respectively, and is included within accounts receivable. Deferred revenue and customer prepayments are recorded when cash payments are received or due in advance of the performance obligation being satisfied. Deferred revenue primarily includes prepaid service contracts, as well as deferred installation. Changes in the components of deferred revenue and customer prepayments during the six month periods ending June 30, 2024 and 2023 are as follows: 2024 2023 Beginning balances as of January 1 $ 202,022 $ 192,759 Customer pre-payments/deferred revenue 338,581 343,373 Revenue recognized (320,727) (332,005) Foreign currency translation (5,671) 422 Ending balance as of June 30 $ 214,205 $ 204,549 The Company generally expenses sales commissions when incurred because the contract period is one year or less. These costs are recorded within selling, general, and administrative expenses. The value of unsatisfied performance obligations other than customer prepayments and deferred revenue associated with contracts greater than one year is immaterial.

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Jun. 30, 2024
Fair Value Disclosures [Abstract]
FAIR VALUE MEASUREMENTS	FAIR VALUE MEASUREMENTS At June 30, 2024 and December 31, 2023, the Company had derivative assets totaling $3.4 million and $8.3 million respectively, and derivative liabilities totaling $5.7 million and $25.2 million, respectively. The Company has limited involvement with derivative financial instruments and therefore does not present all the required disclosures in tabular format. The fair values of the 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. 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 liabilities which are categorized as Level 1: June 30, 2024 December 31, 2023 Balance Sheet Classification Foreign currency forward contracts not designated as hedging instruments $ 1,961 $ 8,330 Other current assets and prepaid expenses Cash Flow Hedges: Cross currency swap agreement 864 — Other current assets and prepaid expenses Cross currency swap agreement 544 — Other non-current assets Total derivative assets $ 3,369 $ 8,330 Foreign currency forward contracts not designated as hedging instruments $ 1,897 $ 8,245 Accrued and other liabilities Cash Flow Hedges: Cross currency swap agreement — 2,678 Accrued and other liabilities Cross currency swap agreement 3,829 14,270 Other non-current liabilities Total derivative liabilities $ 5,726 $ 25,193 The Company had $6.7 million and $4.0 million of cash equivalents at June 30, 2024 and December 31, 2023, 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 $209.2 million as of June 30, 2024. The fair value of the Company's fixed interest rate debt was estimated using Level 2 inputs, primarily discounted cash flow models, based on estimated current rates offered for similar debt under current market conditions for the Company.

Income Taxes

Income Taxes	6 Months Ended
	Jun. 30, 2024
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXESThe Company's reported tax rate was 8.8% and 18.8% during the three months ended June 30, 2024 and 2023, respectively and 13.9% and 17.9% during the six months ended June 30, 2024 and 2023, respectively. The provision for taxes is based upon using the Company's projected annual effective tax rate of 19.0% before non-recurring discrete tax items during 2024 and 2023. 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. The reported tax rate for the three and six month periods ended June 30, 2024 also includes a non-cash discrete tax benefit of $23.0 million resulting from the reduction of uncertain tax position liabilities related to the settlement of a tax audit

Debt

Debt	6 Months Ended
	Jun. 30, 2024
Debt Disclosure [Abstract]
DEBT	DEBT Debt consisted of the following at June 30, 2024: U.S. Dollar Other Principal Trading Currencies Total 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 5.45% $150 million ten-year Senior Notes due March 1, 2033 150,000 — 150,000 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 — 133,642 133,642 1.30% Euro 135 million fifteen-year Senior Notes due November 6, 2034 — 144,333 144,333 1.06% Euro 125 million fifteen-year Senior Notes due March 19, 2036 — 133,642 133,642 Debt issuance costs, net (2,490) (1,291) (3,781) Total Senior Notes 947,510 410,326 1,357,836 $1.35 billion Credit Agreement, interest at benchmark plus 97.5 basis points (a) 382,306 251,198 633,504 Other local arrangements 8,869 57,675 66,544 Total debt 1,338,685 719,199 2,057,884 Less: current portion (253,831) (57,415) (311,246) Total long-term debt $ 1,084,854 $ 661,784 $ 1,746,638 (a) The benchmark interest rate is determined by the borrowing currency. The benchmark rates by borrowing currency are as follows: SOFR for U.S. dollars (plus a 10 basis points spread adjustment), SARON for Swiss franc, EURIBOR for Euro and SONIA for Great British pounds. On May 30, 2024, the Company entered into a $1.35 billion Credit Agreement (the Credit Agreement), which amended its $1.25 billion Amended and Restated Credit Agreement (the Prior Credit Agreement). As of June 30, 2024, the Company had $712.0 million of additional borrowings available under its Credit Agreement, and the Company maintained $70.8 million of cash and cash equivalents. The Credit Agreement is provided by a group of financial institutions (similar to the Company's Prior Credit Agreement) and has a maturity date of 2029. It is a revolving credit facility and is not subject to any scheduled principal payments prior to maturity. The obligations under the Credit Agreement are unsecured. Borrowings under the Credit Agreement bear interest at current market rates plus a margin based on the Company’s consolidated leverage ratio. The Company must also pay facility fees that are tied to its leverage ratio. The Credit Agreement contains covenants that are similar to those contained in the prior Credit Agreement, with which the Company was in compliance as of June 30, 2024. The Company is required to maintain (i) a ratio of net funded indebtedness to EBITDA of 3.5 to 1.0 or less, except in certain circumstances and (ii) an interest coverage ratio of 3.0 to 1.0 or greater. The Credit Agreement also places certain limitations on the Company, including limiting the ability to incur liens or indebtedness at a subsidiary level. In addition, the Credit Agreement has several events of default, with customary grace periods applicable. The Company incurred approximately $0.2 million of debt extinguishment costs during 2024 related to the Prior Credit Agreement. The Company capitalized $2.0 million in financing fees during 2024 associated with the Credit Agreement which will be amortized to interest expense through 2029. In May 2023, the Company amended its Prior Credit Agreement to replace all references of LIBOR to SOFR and other non-U.S. dollar references as the interest rate benchmark. In December 2022, the Company entered into an agreement to issue and sell $150 million 10-year Senior Notes in a private placement. The Company issued $150 million with a fixed interest rate of 5.45% (5.45% Senior Notes) in March 2023. The 5.45% Senior Notes are senior unsecured obligations of the Company. The 5.45% Senior Notes mature in March 2033. The terms of the 5.45% Senior Notes are consistent with the previous Senior Notes as described in the Company's Annual Report on Form 10-K. The Company used the proceeds from the sale of the 5.45% Senior 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 $5.1 million and unrealized loss of $3.6 million for the three months ended June 30, 2024 and 2023, respectively, and an unrealized gain of $13.3 million and unrealized loss of $8.9 million for the six month periods ended June 30, 2024 and 2023, respectively. The Company has an unrealized gain of $30.6 million recorded in accumulated other comprehensive income (loss) as of June 30, 2024. Other Local Arrangements

Share Repurchase Program and Tr

Share Repurchase Program and Treasury Stock	6 Months Ended
	Jun. 30, 2024
Equity [Abstract]
SHARE REPURCHASE PROGRAM AND TREASURY STOCK	SHARE REPURCHASE PROGRAM AND TREASURY STOCK The Company has $2.1 billion of remaining availability for its share repurchase program as of June 30, 2024. 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.

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income	6 Months Ended
	Jun. 30, 2024
Other Comprehensive Income (Loss), Net of Tax [Abstract]
Comprehensive Income (Loss) Note [Text Block]	ACCUMULATED OTHER COMPREHENSIVE INCOME Comprehensive income (loss), net of tax consisted of the following as of June 30: Three Months Ended Six Months Ended 2024 2023 2024 2023 Net earnings $ 221,814 $ 213,927 $ 399,323 $ 402,353 Other comprehensive income (loss), net of tax (12,293) (38,700) 9,448 (39,983) Comprehensive income, net of tax $ 209,521 $ 175,227 $ 408,771 $ 362,370 The following table presents changes in accumulated other comprehensive income by component for the six months ended June 30, 2024 and 2023: Currency Translation Adjustment, Net of Tax Net Unrealized Pension and Post-Retirement Benefit Related Items, Total Balance at December 31, 2023 $ (117,230) $ 120 $ (202,705) $ (319,815) Other comprehensive income (loss), net of tax: Unrealized gains (losses) on cash flow hedging arrangements — 16,195 — 16,195 Foreign currency translation adjustment (4,469) — 10,570 6,101 Amounts recognized from accumulated other comprehensive income (loss), net of tax — (17,711) 4,863 (12,848) Net change in other comprehensive income (loss), net of tax (4,469) (1,516) 15,433 9,448 Balance at June 30, 2024 $ (121,699) $ (1,396) $ (187,272) $ (310,367) Currency Translation Adjustment, Net of Tax Net Unrealized Pension and Post-Retirement Benefit Related Items, Total Balance at December 31, 2022 $ (82,864) $ 4,256 $ (148,625) $ (227,233) Other comprehensive income (loss), net of tax: Unrealized gains (losses) on cash flow hedging arrangements — (2,121) — (2,121) Foreign currency translation adjustment (37,810) — (3,960) (41,770) Amounts recognized from accumulated other comprehensive income (loss), net of tax — 725 3,183 3,908 Net change in other comprehensive income (loss), net of tax (37,810) (1,396) (777) (39,983) Balance at June 30, 2023 $ (120,674) $ 2,860 $ (149,402) $ (267,216) The following table presents a mounts recognized from ac cumulated other comprehensive income (loss) for the three and six month periods ended June 30: Three Months Ended June 30, 2024 2023 Location of Amounts Recognized in Earnings Effective portion of (gains) losses on cash flow hedging arrangements: Cross currency swap agreement (670) 2,449 (a) Provision for taxes (127) 465 Provision for taxes Total, net of taxes $ (543) $ 1,984 Recognition of defined benefit pension and post-retirement items: Recognition of actuarial losses and prior service cost, before taxes $ 2,998 $ 2,035 (b) Provision for taxes 611 430 Provision for taxes Total, net of taxes $ 2,387 $ 1,605 (a) The cross currency swap reflects an unrealized loss of $2.4 million for the three months ended June 30, 2024 recorded in other charges (income) that was offset by the underlying unrealized gain on the hedged debt. The cross currency swap also reflects a realized gain of $3.1 million recorded in interest expense for the three months ended June 30, 2024. (b) These accumulated other comprehensive income (loss) components are included in the computation of net periodic pension and post-retirement cost. See Note 11 for additional details for the three months ended June 30, 2024 and 2023. Six Months Ended June 30, 2024 2023 Location of Amounts Recognized in Earnings Effective portion of (gains) losses on cash flow hedging arrangements: Cross currency swap agreement (21,866) 895 (a) Provision for taxes (4,155) 170 Provision for taxes Total, net of taxes $ (17,711) $ 725 Recognition of defined benefit pension and post-retirement items: Recognition of actuarial losses and prior service cost, before taxes $ 6,106 $ 4,037 (b) Provision for taxes 1,243 854 Provision for taxes Total, net of taxes $ 4,863 $ 3,183 (a) The cross currency swap reflects an unrealized gain of $15.8 million for the six months ended June 30, 2024 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 $6.1 million recorded in interest expense for the six months ended June 30, 2024. (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 six months ended June 30, 2024 and 2023.

Earnings Per Common Share

Earnings Per Common Share	6 Months Ended
	Jun. 30, 2024
Earnings Per Share [Abstract]
EARNINGS PER COMMON SHARE	EARNINGS PER COMMON SHARE In accordance with the treasury stock method, the Company has included the following common equivalent shares in the calculation of diluted weighted average number of common shares outstanding for the three and six months ended June 30, relating to outstanding stock options and restricted stock units: 2024 2023 Three months ended 113,544 135,957 Six months ended 110,656 150,732

Net Periodic Benefit Cost

Net Periodic Benefit Cost	6 Months Ended
	Jun. 30, 2024
Retirement Benefits [Abstract]
NET PERIODIC BENEFIT COST	NET PERIODIC PENSION COST Net periodic pension cost for the Company’s defined benefit pension plans and U.S. post-retirement medical plan includes the following components for the three months ended June 30: U.S. Pension Benefits Non-U.S. Pension Benefits Other U.S. Post-retirement Benefits Total 2024 2023 2024 2023 2024 2023 2024 2023 Service cost, net $ 397 $ 289 $ 3,892 $ 3,425 $ — $ — $ 4,289 $ 3,714 Interest cost on projected benefit obligations 1,191 1,256 4,370 4,916 6 8 5,567 6,180 Expected return on plan assets (1,368) (1,383) (9,050) (8,645) — — (10,418) (10,028) Recognition of prior service cost — — (1,120) (1,060) (19) (19) (1,139) (1,079) Recognition of actuarial losses/(gains) 520 548 3,638 2,561 8 (1) 4,166 3,108 Net periodic pension cost/(credit) $ 740 $ 710 $ 1,730 $ 1,197 $ (5) $ (12) $ 2,465 $ 1,895 Net periodic pension cost for the Company’s defined benefit pension plans and U.S. post-retirement medical plan includes the following components for the six months ended June 30: U.S. Pension Benefits Non-U.S. Pension Benefits Other U.S. Post-retirement Benefits Total 2024 2023 2024 2023 2024 2023 2024 2023 Service cost, net $ 794 $ 579 $ 7,912 $ 6,821 $ — $ — $ 8,706 $ 7,400 Interest cost on projected benefit obligations 2,383 2,511 8,849 9,792 13 15 11,245 12,318 Expected return on plan assets (2,736) (2,766) (18,395) (17,212) — — (21,131) (19,978) Recognition of prior service cost — — (2,281) (2,110) (38) (38) (2,319) (2,148) Recognition of actuarial losses/(gains) 1,041 1,096 7,399 5,098 16 (1) 8,456 6,193 Net periodic pension cost/(credit) $ 1,482 $ 1,420 $ 3,484 $ 2,389 $ (9) $ (24) $ 4,957 $ 3,785 As previously disclosed in the Company's Annual Report on Form 10-K for the year ended December 31, 2023, the Company expects to make employer contributions of approximately $27.3 million to its non-U.S. pension plans during the year ended December 31, 2024. This estimate 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	6 Months Ended
	Jun. 30, 2024
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 were $1.9 million for both the three month periods ended June 30, 2024 and 2023, and $3.8 million and $3.7 million for the six months ended June 30, 2024 and 2023, respectively.

Segment Reporting

Segment Reporting	6 Months Ended
	Jun. 30, 2024
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, 2023, the Company has determined there are five reportable segments: U.S. Operations, Swiss Operations, Western European Operations, Chinese Operations and Other. The Company evaluates segment performance based on Segment Profit (gross profit less research and development and selling, general and administrative expenses, before amortization, interest expense, restructuring charges, other charges (income), net and taxes). The following tables show the operations of the Company’s operating segments: Net Sales to Net Sales to As of June 30, For the three months ended External Other Total Net Segment 2024 June 30, 2024 Customers Segments Sales Profit Goodwill U.S. Operations $ 362,215 $ 36,017 $ 398,232 $ 100,247 $ 526,385 Swiss Operations 50,185 169,194 219,379 55,804 25,841 Western European Operations 202,313 42,171 244,484 45,124 99,401 Chinese Operations 164,384 81,894 246,278 99,496 601 Other (a) 167,653 7,604 175,257 24,628 13,131 Eliminations and Corporate (b) — (336,880) (336,880) (41,198) — Total $ 946,750 $ — $ 946,750 $ 284,101 $ 665,359 Net Sales to Net Sales to For the six months ended External Other Total Net Segment June 30, 2024 Customers Segments Sales Profit U.S. Operations $ 708,338 $ 73,435 $ 781,773 $ 193,883 Swiss Operations 104,435 392,565 497,000 114,890 Western European Operations 417,078 89,909 506,987 95,435 Chinese Operations 307,582 162,536 470,118 175,319 Other (a) 335,266 10,936 346,202 49,810 Eliminations and Corporate (b) — (729,381) (729,381) (77,908) Total $ 1,872,699 $ — $ 1,872,699 $ 551,429 (a) Other includes reporting units in Eastern Europe, Latin America, Southeast Asia and other countries. (b) Eliminations and Corporate includes the elimination of inter-segment transactions and certain corporate expenses and intercompany investments, which are not included in the Company’s operating segments. Net Sales to Net Sales to As of June 30, For the three months ended External Other Total Net Segment 2023 June 30, 2023 Customers Segments Sales Profit Goodwill U.S. Operations $ 359,115 $ 33,741 $ 392,856 $ 104,206 $ 524,459 Swiss Operations 46,803 181,073 227,876 66,914 25,865 Western European Operations 192,075 47,766 239,841 38,747 100,452 Chinese Operations 221,669 67,279 288,948 119,722 603 Other (a) 162,455 13,601 176,056 24,440 13,721 Eliminations and Corporate (b) — (343,460) (343,460) (46,325) — Total $ 982,117 $ — $ 982,117 $ 307,704 $ 665,100 Net Sales to Net Sales to For the six months ended External Other Total Net Segment June 30, 2023 Customers Segments Sales Profit U.S. Operations $ 696,516 $ 66,989 $ 763,505 $ 186,000 Swiss Operations 93,172 383,207 476,379 143,336 Western European Operations 391,499 92,642 484,141 83,270 Chinese Operations 407,437 127,731 535,168 200,963 Other (a) 322,231 14,559 336,790 48,683 Eliminations and Corporate (b) — (685,128) (685,128) (88,097) Total $ 1,910,855 $ — $ 1,910,855 $ 574,155 (a) Other includes reporting units in Eastern Europe, Latin America, Southeast Asia and other countries. (b) Eliminations and Corporate includes the elimination of inter-segment transactions and certain corporate expenses and intercompany investments, which are not included in the Company’s operating segments. A reconciliation of earnings before taxes to segment profit for the three and six month periods ended June 30 follows: Three Months Ended Six Months Ended 2024 2023 2024 2023 Earnings before taxes $ 243,177 $ 263,403 $ 463,724 $ 490,013 Amortization 18,178 18,042 36,406 35,821 Interest expense 18,950 19,249 38,182 37,433 Restructuring charges 5,329 8,021 14,993 12,295 Other income, net (1,533) (1,011) (1,876) (1,407) Segment profit $ 284,101 $ 307,704 $ 551,429 $ 574,155

Contingencies

Contingencies	6 Months Ended
	Jun. 30, 2024
Commitments and Contingencies Disclosure [Abstract]
CONTINGENCIES	CONTINGENCIES The Company is party to various legal proceedings, including certain environmental matters, incidental to the normal course of business. Management does not expect that any of such proceedings, either individually or in the aggregate, will have a material adverse effect on the Company’s financial condition, results of operations or cash flows.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2024
Accounting Policies [Abstract]
Trade Accounts Receivable	Trade Accounts Receivable Trade accounts receivable are recorded at the invoiced amount and do not bear interest. The allowance for expected credit losses represents the Company’s best estimate based on historical information, current information, and reasonable and supportable forecasts of future events and circumstances.
Inventories	Inventories Inventories are valued at the lower of cost or net realizable value. Cost, which includes direct materials, labor and overhead, is generally determined using the first in, first out (FIFO) method. The estimated net realizable value is based on assumptions for future demand and related pricing. Adjustments to the cost basis of the Company’s inventory are made for excess and obsolete items based on usage, orders and technological obsolescence. If actual market conditions are less favorable than those projected by management, reductions in the value of inventory may be required. Inventories consisted of the following: June 30, December 31, Raw materials and parts $ 171,135 $ 180,352 Work-in-progress 72,982 81,181 Finished goods 122,278 124,332 $ 366,395 $ 385,865
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 assets are less than its carrying amount. Other intangible assets include indefinite-lived assets and assets subject to amortization. Where applicable, amortization is charged on a straight-line basis over the expected period of benefit. The straight-line method of amortization reflects an appropriate allocation of the cost of the intangible assets to earnings in proportion to the amount of economic benefits obtained by the Company in each reporting period. The Company assesses the initial acquisition of intangible assets in accordance with the provisions of ASC 805 "Business Combinations" and the continued accounting for previously recognized intangible assets and goodwill in accordance with the provisions of ASC 350 "Intangible - Goodwill and Other" and ASC 360 "Property, Plant and Equipment". Other intangible assets consisted of the following: June 30, 2024 December 31, 2023 Gross Accumulated Intangibles, Net Gross Accumulated Intangibles, Net Customer relationships $ 286,191 $ (109,880) $ 176,311 $ 294,180 $ (107,665) $ 186,515 Proven technology and patents 126,154 (76,770) 49,384 129,227 (75,014) 54,213 Tradenames (finite life) 7,762 (4,869) 2,893 7,908 (4,535) 3,373 Tradenames (indefinite life) 35,104 — 35,104 36,320 — 36,320 Other 12,411 (7,949) 4,462 13,236 (8,228) 5,008 $ 467,622 $ (199,468) $ 268,154 $ 480,871 $ (195,442) $ 285,429 The Company recognized amortization expense associated with the above intangible assets of $6.7 million and $6.9 million for the three months ended June 30, 2024 and 2023, respectively, and $13.6 million and $13.8 million for the six months ended June 30, 2024 and 2023, respectively. The annual aggregate amortization expense based on the current balance of other intangible assets is estimated to be $27.2 million for 2024, $26.2 million for 2025, $22.2 million for 2026, $20.7 million for 2027, $19.4 million for 2028, and $17.7 million for 2029. Purchased intangible amortization was $6.5 million, $5.0 million after tax, and $6.7 million, $5.2 million after tax, for the three months ended June 30, 2024 and 2023, respectively, and $13.1 million, $10.1 million after tax, and $13.3 million, $10.3 million after tax, for the six months ended June 30, 2024 and 2023, respectively. In addition to the above amortization, the Company recorded amortization expense associated with capitalized software of $11.4 million and $11.1 million for the three months ended June 30, 2024 and 2023, respectively, and $22.7 million and $22.0 million for the six months ended June 30, 2024 and 2023, 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.
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 $4.5 million and $9.3 million of share-based compensation expense for the three and six months ended June 30, 2024, respectively, compared to $4.2 million and $8.2 million for the corresponding periods in 2023.
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, January 2021 and December 2022, the FASB issued ASU 2020-04, ASU 2021-01 and ASU 2022-06: 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, 2024. The Company amended its credit agreement and cross currency swap agreements in June 2023 to change the interest rate benchmark from LIBOR to SOFR and other non-U.S. dollar references, which did not change the amount or timing of cash flows. As a result, the discontinuation of LIBOR did not have a material impact on the Company's financial statements. In November 2023, the FASB issued ASU 2023-07: Improvements to Reportable Segment Disclosures which requires incremental disclosures about a public entity's reportable segments but does not change the definition of a segment or the guidance for determining reportable segments. The Company will adopt the annual disclosure requirements in 2024 and is currently evaluating the impact of these requirements on the consolidated financial statements. In December 2023, the FASB issued ASU 2023-09: Improvements to Income Tax Disclosures, which enhances income tax disclosures, especially related to the rate reconciliation and income taxes paid information. The Company will adopt the annual disclosure requirements in 2025 and is currently evaluating the impact of these requirements on the consolidated financial statements.

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	6 Months Ended
	Jun. 30, 2024
Accounting Policies [Abstract]
Components of inventories	Inventories consisted of the following: June 30, December 31, Raw materials and parts $ 171,135 $ 180,352 Work-in-progress 72,982 81,181 Finished goods 122,278 124,332 $ 366,395 $ 385,865
Components of other intangible assets	Other intangible assets consisted of the following: June 30, 2024 December 31, 2023 Gross Accumulated Intangibles, Net Gross Accumulated Intangibles, Net Customer relationships $ 286,191 $ (109,880) $ 176,311 $ 294,180 $ (107,665) $ 186,515 Proven technology and patents 126,154 (76,770) 49,384 129,227 (75,014) 54,213 Tradenames (finite life) 7,762 (4,869) 2,893 7,908 (4,535) 3,373 Tradenames (indefinite life) 35,104 — 35,104 36,320 — 36,320 Other 12,411 (7,949) 4,462 13,236 (8,228) 5,008 $ 467,622 $ (199,468) $ 268,154 $ 480,871 $ (195,442) $ 285,429

Revenue from Contracts with C_2

Revenue from Contracts with Customers (Tables)	6 Months Ended
	Jun. 30, 2024
Revenue from Contract with Customer [Abstract]
Disaggregation of Revenue [Table Text Block]	For the three months ended June 30, 2024 U.S. Operations Swiss Operations Western European Operations Chinese Operations Other Operations Total Product Revenue $ 264,345 $ 39,418 $ 137,113 $ 148,436 $ 122,948 $ 712,260 Service Revenue: Point in time 73,839 7,615 43,218 11,753 34,614 171,039 Over time 24,031 3,152 21,982 4,195 10,091 63,451 Total $ 362,215 $ 50,185 $ 202,313 $ 164,384 $ 167,653 $ 946,750 For the three months ended June 30, 2023 U.S. Operations Swiss Operations Western European Operations Chinese Operations Other Operations Total Product Revenue $ 265,881 $ 36,662 $ 130,404 $ 204,259 $ 121,765 $ 758,971 Service Revenue: Point in time 72,250 7,246 40,831 13,020 32,142 165,489 Over time 20,984 2,895 20,840 4,390 8,548 57,657 Total $ 359,115 $ 46,803 $ 192,075 $ 221,669 $ 162,455 $ 982,117 For the six months ended June 30, 2024 U.S. Operations Swiss Operations Western European Operations Chinese Operations Other Operations Total Product Revenue $ 515,081 $ 83,039 $ 288,648 $ 277,447 $ 249,013 $ 1,413,228 Service Revenue: Point in time 146,973 15,379 86,039 21,654 65,824 335,869 Over time 46,284 6,017 42,391 8,481 20,429 123,602 Total $ 708,338 $ 104,435 $ 417,078 $ 307,582 $ 335,266 $ 1,872,699 For the six months ended June 30, 2023 U.S. Operations Swiss Operations Western European Operations Chinese Operations Other Operations Total Product Revenue $ 512,410 $ 73,123 $ 271,111 $ 374,689 $ 243,639 $ 1,474,972 Service Revenue: Point in time 142,875 14,707 81,996 24,368 62,187 326,133 Over time 41,231 5,342 38,392 8,380 16,405 109,750 Total $ 696,516 $ 93,172 $ 391,499 $ 407,437 $ 322,231 $ 1,910,855 A breakdown of net sales to external customers by geographic customer destination for the three and six months ended June 30 follows: Three Months Ended Six Months Ended 2024 2023 2024 2023 Americas $ 404,030 $ 396,897 $ 788,373 $ 768,970 Europe 258,836 246,340 532,697 500,314 Asia / Rest of World 283,884 338,880 551,629 641,571 Total $ 946,750 $ 982,117 $ 1,872,699 $ 1,910,855 The Company's glo bal revenue mix by product category is 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 breakdown of the Company’s sales by p roduct category for the three and six months ended June 30 is as follows: Three Months Ended Six Months Ended 2024 2023 2024 2023 Laboratory $ 523,233 $ 526,699 $ 1,048,288 $ 1,046,730 Industrial 374,257 399,001 726,102 754,181 Retail 49,260 56,417 98,309 109,944 Total $ 946,750 $ 982,117 $ 1,872,699 $ 1,910,855
Contract with Customer, Contract Asset, Contract Liability, and Receivable [Table Text Block]	2024 2023 Beginning balances as of January 1 $ 202,022 $ 192,759 Customer pre-payments/deferred revenue 338,581 343,373 Revenue recognized (320,727) (332,005) Foreign currency translation (5,671) 422 Ending balance as of June 30 $ 214,205 $ 204,549

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
	Jun. 30, 2024
Fair Value Disclosures [Abstract]
Assets and liabilities measured at fair value on a recurring basis	June 30, 2024 December 31, 2023 Balance Sheet Classification Foreign currency forward contracts not designated as hedging instruments $ 1,961 $ 8,330 Other current assets and prepaid expenses Cash Flow Hedges: Cross currency swap agreement 864 — Other current assets and prepaid expenses Cross currency swap agreement 544 — Other non-current assets Total derivative assets $ 3,369 $ 8,330 Foreign currency forward contracts not designated as hedging instruments $ 1,897 $ 8,245 Accrued and other liabilities Cash Flow Hedges: Cross currency swap agreement — 2,678 Accrued and other liabilities Cross currency swap agreement 3,829 14,270 Other non-current liabilities Total derivative liabilities $ 5,726 $ 25,193

Debt (Tables)

Debt (Tables)	6 Months Ended
	Jun. 30, 2024
Debt Disclosure [Abstract]
Debt	Debt consisted of the following at June 30, 2024:

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Income (Tables)	6 Months Ended
	Jun. 30, 2024
Other Comprehensive Income (Loss), Net of Tax [Abstract]
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block]	The following table presents changes in accumulated other comprehensive income by component for the six months ended June 30, 2024 and 2023: Currency Translation Adjustment, Net of Tax Net Unrealized Pension and Post-Retirement Benefit Related Items, Total Balance at December 31, 2023 $ (117,230) $ 120 $ (202,705) $ (319,815) Other comprehensive income (loss), net of tax: Unrealized gains (losses) on cash flow hedging arrangements — 16,195 — 16,195 Foreign currency translation adjustment (4,469) — 10,570 6,101 Amounts recognized from accumulated other comprehensive income (loss), net of tax — (17,711) 4,863 (12,848) Net change in other comprehensive income (loss), net of tax (4,469) (1,516) 15,433 9,448 Balance at June 30, 2024 $ (121,699) $ (1,396) $ (187,272) $ (310,367)
Disclosure of Reclassification Amount [Text Block]	The following table presents a mounts recognized from ac cumulated other comprehensive income (loss) for the three and six month periods ended June 30: Three Months Ended June 30, 2024 2023 Location of Amounts Recognized in Earnings Effective portion of (gains) losses on cash flow hedging arrangements: Cross currency swap agreement (670) 2,449 (a) Provision for taxes (127) 465 Provision for taxes Total, net of taxes $ (543) $ 1,984 Recognition of defined benefit pension and post-retirement items: Recognition of actuarial losses and prior service cost, before taxes $ 2,998 $ 2,035 (b) Provision for taxes 611 430 Provision for taxes Total, net of taxes $ 2,387 $ 1,605
Schedule of Comprehensive Income (Loss) [Table Text Block]	.

Net Periodic Benefit Cost (Tabl

Net Periodic Benefit Cost (Tables)	6 Months Ended
	Jun. 30, 2024
Retirement Benefits [Abstract]
Schedule of Net Benefit Costs [Table Text Block]	Net periodic pension cost for the Company’s defined benefit pension plans and U.S. post-retirement medical plan includes the following components for the three months ended June 30: U.S. Pension Benefits Non-U.S. Pension Benefits Other U.S. Post-retirement Benefits Total 2024 2023 2024 2023 2024 2023 2024 2023 Service cost, net $ 397 $ 289 $ 3,892 $ 3,425 $ — $ — $ 4,289 $ 3,714 Interest cost on projected benefit obligations 1,191 1,256 4,370 4,916 6 8 5,567 6,180 Expected return on plan assets (1,368) (1,383) (9,050) (8,645) — — (10,418) (10,028) Recognition of prior service cost — — (1,120) (1,060) (19) (19) (1,139) (1,079) Recognition of actuarial losses/(gains) 520 548 3,638 2,561 8 (1) 4,166 3,108 Net periodic pension cost/(credit) $ 740 $ 710 $ 1,730 $ 1,197 $ (5) $ (12) $ 2,465 $ 1,895 Net periodic pension cost for the Company’s defined benefit pension plans and U.S. post-retirement medical plan includes the following components for the six months ended June 30: U.S. Pension Benefits Non-U.S. Pension Benefits Other U.S. Post-retirement Benefits Total 2024 2023 2024 2023 2024 2023 2024 2023 Service cost, net $ 794 $ 579 $ 7,912 $ 6,821 $ — $ — $ 8,706 $ 7,400 Interest cost on projected benefit obligations 2,383 2,511 8,849 9,792 13 15 11,245 12,318 Expected return on plan assets (2,736) (2,766) (18,395) (17,212) — — (21,131) (19,978) Recognition of prior service cost — — (2,281) (2,110) (38) (38) (2,319) (2,148) Recognition of actuarial losses/(gains) 1,041 1,096 7,399 5,098 16 (1) 8,456 6,193 Net periodic pension cost/(credit) $ 1,482 $ 1,420 $ 3,484 $ 2,389 $ (9) $ (24) $ 4,957 $ 3,785

Segment Reporting (Tables)

Segment Reporting (Tables)	6 Months Ended
	Jun. 30, 2024
Operations of the Company's operating segments	The following tables show the operations of the Company’s operating segments: Net Sales to Net Sales to As of June 30, For the three months ended External Other Total Net Segment 2024 June 30, 2024 Customers Segments Sales Profit Goodwill U.S. Operations $ 362,215 $ 36,017 $ 398,232 $ 100,247 $ 526,385 Swiss Operations 50,185 169,194 219,379 55,804 25,841 Western European Operations 202,313 42,171 244,484 45,124 99,401 Chinese Operations 164,384 81,894 246,278 99,496 601 Other (a) 167,653 7,604 175,257 24,628 13,131 Eliminations and Corporate (b) — (336,880) (336,880) (41,198) — Total $ 946,750 $ — $ 946,750 $ 284,101 $ 665,359 Net Sales to Net Sales to For the six months ended External Other Total Net Segment June 30, 2024 Customers Segments Sales Profit U.S. Operations $ 708,338 $ 73,435 $ 781,773 $ 193,883 Swiss Operations 104,435 392,565 497,000 114,890 Western European Operations 417,078 89,909 506,987 95,435 Chinese Operations 307,582 162,536 470,118 175,319 Other (a) 335,266 10,936 346,202 49,810 Eliminations and Corporate (b) — (729,381) (729,381) (77,908) Total $ 1,872,699 $ — $ 1,872,699 $ 551,429 (a) Other includes reporting units in Eastern Europe, Latin America, Southeast Asia and other countries. (b) Eliminations and Corporate includes the elimination of inter-segment transactions and certain corporate expenses and intercompany investments, which are not included in the Company’s operating segments. Net Sales to Net Sales to As of June 30, For the three months ended External Other Total Net Segment 2023 June 30, 2023 Customers Segments Sales Profit Goodwill U.S. Operations $ 359,115 $ 33,741 $ 392,856 $ 104,206 $ 524,459 Swiss Operations 46,803 181,073 227,876 66,914 25,865 Western European Operations 192,075 47,766 239,841 38,747 100,452 Chinese Operations 221,669 67,279 288,948 119,722 603 Other (a) 162,455 13,601 176,056 24,440 13,721 Eliminations and Corporate (b) — (343,460) (343,460) (46,325) — Total $ 982,117 $ — $ 982,117 $ 307,704 $ 665,100 Net Sales to Net Sales to For the six months ended External Other Total Net Segment June 30, 2023 Customers Segments Sales Profit U.S. Operations $ 696,516 $ 66,989 $ 763,505 $ 186,000 Swiss Operations 93,172 383,207 476,379 143,336 Western European Operations 391,499 92,642 484,141 83,270 Chinese Operations 407,437 127,731 535,168 200,963 Other (a) 322,231 14,559 336,790 48,683 Eliminations and Corporate (b) — (685,128) (685,128) (88,097) Total $ 1,910,855 $ — $ 1,910,855 $ 574,155 (a) Other includes reporting units in Eastern Europe, Latin America, Southeast Asia and other countries. (b) Eliminations and Corporate includes the elimination of inter-segment transactions and certain corporate expenses and intercompany investments, which are not included in the Company’s operating segments.
Reconciliation of earnings before taxes to segment profit	A reconciliation of earnings before taxes to segment profit for the three and six month periods ended June 30 follows: Three Months Ended Six Months Ended 2024 2023 2024 2023 Earnings before taxes $ 243,177 $ 263,403 $ 463,724 $ 490,013 Amortization 18,178 18,042 36,406 35,821 Interest expense 18,950 19,249 38,182 37,433 Restructuring charges 5,329 8,021 14,993 12,295 Other income, net (1,533) (1,011) (1,876) (1,407) Segment profit $ 284,101 $ 307,704 $ 551,429 $ 574,155

Summary of Significant Accoun_4

Summary of Significant Accounting Policies (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Components of inventory
Raw materials and parts	$ 171,135	$ 180,352
Work-in-progress	72,982	81,181
Finished goods	122,278	124,332
Total Inventory, Net	$ 366,395	$ 385,865

Summary of Significant Accoun_5

Summary of Significant Accounting Policies (Details 1) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Intangible Assets [Line Items]
Intangible Assets, Gross (Excluding Goodwill)	$ 467,622	$ 480,871
Accumulated Amortization	(199,468)	(195,442)
Intangible Assets, Net (Excluding Goodwill)	268,154	285,429
Tradename (indefinite life) [Member]
Intangible Assets [Line Items]
Gross amount, Tradename (indefinite life)	35,104	36,320
Intangible Assets, Net (Excluding Goodwill)	35,104	36,320
Customer Relationships [Member]
Intangible Assets [Line Items]
Gross amount	286,191	294,180
Accumulated Amortization	(109,880)	(107,665)
Intangible Assets, Net (Excluding Goodwill)	176,311	186,515
Proven technology and patents [Member]
Intangible Assets [Line Items]
Gross amount	126,154	129,227
Accumulated Amortization	(76,770)	(75,014)
Intangible Assets, Net (Excluding Goodwill)	49,384	54,213
Tradename (indefinite life) [Member]
Intangible Assets [Line Items]
Gross amount	7,762	7,908
Accumulated Amortization	(4,869)	(4,535)
Intangible Assets, Net (Excluding Goodwill)	2,893	3,373
Other Intangible Assets [Member]
Intangible Assets [Line Items]
Gross amount	12,411	13,236
Accumulated Amortization	(7,949)	(8,228)
Intangible Assets, Net (Excluding Goodwill)	$ 4,462	$ 5,008

Summary of Significant Accoun_6

Summary of Significant Accounting Policies (Details Textuals) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Summary of Significant Accounting Policies (Textuals) [Abstract]
Amortization expense	$ 6.7	$ 6.9	$ 13.6	$ 13.8
Future Amortization Expense Current Year			27.2
Aggregate amortization expense for 2020	26.2		26.2
Aggregate amortization expense for 2021	22.2		22.2
Aggregate amortization expense for 2023	20.7		20.7
Aggregate amortization expense for 2024	19.4		19.4
Aggregate amortization expense for 2025	17.7		17.7
Purchased Intangible Amortization, Gross	6.5	6.7	13.1	13.3
Purchased intangible amortization, net of tax	5	5.2	10.1	10.3
Amortization expense associated with capitalized software	11.4	11.1	22.7	22
Share - based compensation expense	$ 4.5	$ 4.2	$ 9.3	$ 8.2

Revenue from Contracts with C_3

Revenue from Contracts with Customers (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	$ 946,750	$ 982,117	$ 1,872,699	$ 1,910,855
Contract with Customer, Asset, after Allowance for Credit Loss	39,400		39,400		$ 35,700
Americas [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	404,030	396,897	788,373	768,970
Europe [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	258,836	246,340	532,697	500,314
Asia [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	283,884	338,880	551,629	641,571
Product [Member] | Transferred at Point in Time [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	712,260	758,971	1,413,228	1,474,972
Service [Member] | Transferred at Point in Time [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	171,039	165,489	335,869	326,133
Service [Member] | Transferred over Time [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	$ 63,451	57,657	$ 123,602	109,750
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	$ 523,233	526,699	$ 1,048,288	1,046,730
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	$ 374,257	399,001	$ 726,102	754,181
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	$ 49,260	56,417	$ 98,309	109,944
US Operations [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	362,215	359,115	708,338	696,516
US Operations [Member] | Product [Member] | Transferred at Point in Time [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	264,345	265,881	515,081	512,410
US Operations [Member] | Service [Member] | Transferred at Point in Time [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	73,839	72,250	146,973	142,875
US Operations [Member] | Service [Member] | Transferred over Time [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	24,031	20,984	46,284	41,231
Swiss Operations [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	50,185	46,803	104,435	93,172
Swiss Operations [Member] | Product [Member] | Transferred at Point in Time [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	39,418	36,662	83,039	73,123
Swiss Operations [Member] | Service [Member] | Transferred at Point in Time [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	7,615	7,246	15,379	14,707
Swiss Operations [Member] | Service [Member] | Transferred over Time [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	3,152	2,895	6,017	5,342
Western European Operations [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	202,313	192,075	417,078	391,499
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	137,113	130,404	288,648	271,111
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	43,218	40,831	86,039	81,996
Western European Operations [Member] | Service [Member] | Transferred over Time [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	21,982	20,840	42,391	38,392
Chinese Operations [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	164,384	221,669	307,582	407,437
Chinese Operations [Member] | Product [Member] | Transferred at Point in Time [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	148,436	204,259	277,447	374,689
Chinese Operations [Member] | Service [Member] | Transferred at Point in Time [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	11,753	13,020	21,654	24,368
Chinese Operations [Member] | Service [Member] | Transferred over Time [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	4,195	4,390	8,481	8,380
Other Operations [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	167,653	162,455	335,266	322,231
Other Operations [Member] | Product [Member] | Transferred at Point in Time [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	122,948	121,765	249,013	243,639
Other Operations [Member] | Service [Member] | Transferred at Point in Time [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	34,614	32,142	65,824	62,187
Other Operations [Member] | Service [Member] | Transferred over Time [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	$ 10,091	$ 8,548	$ 20,429	$ 16,405

Revenue from Contracts with C_4

Revenue from Contracts with Customers 2 (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023	Mar. 31, 2023	Dec. 31, 2022
Revenue from Contract with Customer [Abstract]
Deferred Revenue	$ 214,205		$ 202,022	$ 204,549	$ 192,759
Contract with Customer, Asset, after Allowance for Credit Loss	39,400		$ 35,700
Customer prepayments and deferred revenue	338,581	$ 343,373
Contract with Customer, Liability, Revenue Recognized	(320,727)	(332,005)
Temporary Equity, Foreign Currency Translation Adjustments	$ (5,671)	$ 422

Financial Instruments (Details)

Financial Instruments (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Derivative [Line Items]
Cash Flow Hedge Gain (Loss) to be Reclassified within Twelve Months			$ 8,100,000
Designated as Hedging Instrument [Member] | June 2019 4 YR Cross Currency Swap [Member]
Derivative [Line Items]
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]
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
Not Designated as Hedging Instrument [Member]
Derivative [Line Items]
Gain (Loss) on Foreign Currency Derivative Instruments Not Designated as Hedging Instruments	(4,200,000)	$ (19,000,000)	4,600,000	$ (15,500,000)
Derivative, Notional Amount	$ 781,200,000		$ 781,200,000		$ 793,900,000

Fair Value Measurements (Detail

Fair Value Measurements (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023	Jun. 30, 2023
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash Equivalents, at Carrying Value	$ 6,700	$ 4,000
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	3,369	8,330
Derivative Liability	5,726	25,193
Foreign Currency Derivative Instruments Not Designated as Hedging Instruments, Asset at Fair Value	1,961	8,330
foreign currency cash flow hedge current asset	864		$ 0
Foreign Currency Cash Flow Hedge Asset at Fair Value	544	0
Foreign Currency Derivative Instruments Not Designated as Hedging Instruments, Liability at Fair Value	1,897	8,245
Interest Rate Swap Short Term	3,829	14,270
Foreign Currency Cash Flow Hedge Liability at Fair Value	0	$ 2,678
Change in Carrying Value Verse Fair Value of Long Term Debt	$ 209,200

Income Taxes (Details)

Income Taxes (Details)	3 Months Ended		6 Months Ended
	Jun. 30, 2024 Rate	Jun. 30, 2023 Rate	Jun. 30, 2024 Rate	Jun. 30, 2023 Rate
Effective Income Tax Rate Reconciliation, Percent	8.80%	18.80%	13.90%	17.90%
Annual Effective Tax Rate before recurring discrete tax items			19%

Debt (Details)

Debt (Details) € in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024 USD ($) Rate	Jun. 30, 2023 USD ($)	Jun. 30, 2024 USD ($) Rate	Jun. 30, 2023 USD ($)	Jun. 30, 2024 EUR (€) Rate	Dec. 31, 2023 USD ($)
Long-Term Debt, by Current and Noncurrent, and Short-Term Debt
Senior Notes	$ 1,357,836		$ 1,357,836
Unamortized Debt Issuance Expense	(3,781)		(3,781)
Line of Credit Facility, Fair Value of Amount Outstanding	633,504		633,504
Total debt	2,057,884		2,057,884
Debt, Current	(311,246)		(311,246)
Long-term Debt	1,746,638		1,746,638
Line of Credit Facility, Remaining Borrowing Capacity	712,000		712,000
Cash and Cash Equivalents, at Carrying Value	70,810		70,810			$ 69,807
Gain (Loss) on Derivative Used in Net Investment Hedge, after Tax	5,100	$ 3,600	13,300	$ 8,900
Cumulative (gain) loss in other other comprehensive income related to the change in a net investment hedge.	30,600		30,600
Us Dollar Amounts Member
Long-Term Debt, by Current and Noncurrent, and Short-Term Debt
Senior Notes	947,510		947,510
Unamortized Debt Issuance Expense	(2,490)		(2,490)
Line of Credit Facility, Fair Value of Amount Outstanding	382,306		382,306
Total debt	1,338,685		1,338,685
Debt, Current	(253,831)		(253,831)
Long-term Debt	1,084,854		1,084,854
Other Principal Trading Currencies [Member]
Long-Term Debt, by Current and Noncurrent, and Short-Term Debt
Senior Notes	410,326		410,326
Unamortized Debt Issuance Expense	(1,291)		(1,291)
Line of Credit Facility, Fair Value of Amount Outstanding	251,198		251,198
Total debt	719,199		719,199
Debt, Current	(57,415)		(57,415)
Long-term Debt	$ 661,784		$ 661,784
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
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
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	$ 133,642		$ 133,642
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	$ 133,642		$ 133,642
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	$ 144,333		$ 144,333
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	$ 144,333		$ 144,333
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	66,544		66,544
Other local arrangements [Member] | Us Dollar Amounts Member
Long-Term Debt, by Current and Noncurrent, and Short-Term Debt
Other Borrowings	8,869		8,869
Other local arrangements [Member] | Other Principal Trading Currencies [Member]
Long-Term Debt, by Current and Noncurrent, and Short-Term Debt
Other Borrowings	$ 57,675		$ 57,675
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	133,642		133,642
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	$ 133,642		$ 133,642
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
2.91% Senior Note | Us Dollar Amounts Member
Long-Term Debt, by Current and Noncurrent, and Short-Term Debt
Senior Notes	150,000		$ 150,000
5.45% Senior Note
Long-Term Debt, by Current and Noncurrent, and Short-Term Debt
Senior Notes	150,000		150,000
5.45% Senior Note | Us Dollar Amounts Member
Long-Term Debt, by Current and Noncurrent, and Short-Term Debt
Senior Notes	$ 150,000		$ 150,000

Share Repurchase Program and _2

Share Repurchase Program and Treasury Stock (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended				6 Months Ended
	Jun. 30, 2024	Mar. 31, 2024	Jun. 30, 2023	Dec. 31, 2022	Jun. 30, 2024	Jun. 30, 2023
Share Repurchase Program and Treasury Stock (Textuals) [Abstract]
Remaining Amount to Repurchase under the program	$ 2,100,000				$ 2,100,000
Shares Purchased Under Share Repurchase Program	32,000,000				32,000,000
Treasury Stock, Value, Acquired, Cost Method	$ 212,499	$ 212,499	$ 250,000	$ 249,999	$ 425,000	$ 500,000
Number of shares repurchased					(330,492)	(344,382)
Average price of share repurchased, per share					$ 1,285.94	$ 1,464
Exercise of stock options and restricted stock units, shares reissued					23,538	70,191

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Income (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
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	$ (117,230)	$ (82,864)
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax	0	0
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment, Net of Tax	(4,469)	(37,810)
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax	0	0
Other Comprehensive Income (Loss), Net of Tax	(4,469)	(37,810)
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	(121,699)	(120,674)
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	120	4,256
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax	16,195	(2,121)
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	(17,711)	725
Other Comprehensive Income (Loss), Net of Tax	(1,516)	(1,396)
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	(1,396)	2,860
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	(202,705)	(148,625)
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax	0	0
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment, Net of Tax	10,570	(3,960)
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax	4,863	3,183
Other Comprehensive Income (Loss), Net of Tax	15,433	(777)
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	(187,272)	(149,402)
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	(319,815)	(227,233)
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax	16,195	(2,121)
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment, Net of Tax	6,101	(41,770)
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax	(12,848)	3,908
Other Comprehensive Income (Loss), Net of Tax	9,448	(39,983)
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	$ (310,367)	$ (267,216)

Accumulated Other Comprehensi_4

Accumulated Other Comprehensive Income (Details 2) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), before Reclassification, Tax	$ (127)	$ 465	$ (4,155)	$ 170
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), after Reclassification and Tax	543	(1,984)	17,711	(725)
Other Comprehensive Income (Loss), Pension and Other Postretirement Benefit Plans, Adjustment, before Tax, Portion Attributable to Parent	2,998	2,035	6,106	4,037
Other Comprehensive Income (Loss), Pension and Other Postretirement Benefit Plans, Tax, Portion Attributable to Parent	611	430	1,243	854
Other Comprehensive Income (Loss), Pension and Other Postretirement Benefit Plans, Adjustment, Net of Tax	2,387	1,605	4,863	3,183
Cross Currency Swap [Member]
Interest Rate Cash Flow Hedge Gain (Loss) Reclassified to Earnings, Net	(670)	$ 2,449	(21,866)	$ 895
Foreign Currency Transaction Gain (Loss), Unrealized	2,400		15,800
Interest Income, Other	$ 3,100		$ 6,100

Accumulated Other Comprehensi_5

Accumulated Other Comprehensive Income (Details 3) - USD ($) $ in Thousands	3 Months Ended					6 Months Ended
	Jun. 30, 2024	Mar. 31, 2024	Jun. 30, 2023	Mar. 31, 2023	Dec. 31, 2022	Jun. 30, 2024	Jun. 30, 2023
Net earnings	$ 221,814	$ 177,509	$ 213,927	$ 213,927	$ 188,426	$ 399,323	$ 402,353
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent	(12,293)	$ 21,741	(38,700)		$ (1,283)	9,448	(39,983)
Comprehensive Income, Net of Tax (Note 9)	$ 209,521		$ 175,227			$ 408,771	$ 362,370

Earnings Per Common Share (Deta

Earnings Per Common Share (Details) - shares	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Incremental Weighted Average Shares Attributable to Dilutive Effect [Abstract]
Weighted Average Number of Shares Outstanding, Diluted, Total	113,544	135,957	110,656	150,732
Antidilutive Shares Outstanding
Weighted Average Number of Shares Outstanding, Antidilutive, Total	60,855		61,532	43,057

Net Periodic Benefit Cost (Deta

Net Periodic Benefit Cost (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Defined Benefit Plan Disclosure [Line Items]
Service cost, net	$ 4,289	$ 3,714	$ 8,706	$ 7,400
Interest cost on projected benefit obligations	5,567	6,180	11,245	12,318
Expected return on plan assets	(10,418)	(10,028)	(21,131)	(19,978)
Recognition of prior service cost	(1,139)	(1,079)	(2,319)	(2,148)
Recognition of actuarial losses/(gains)	4,166	3,108	8,456	6,193
Net periodic pension cost/(credit)	2,465	1,895	4,957	3,785
Pension Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Service cost, net	397	289	794	579
Interest cost on projected benefit obligations	1,191	1,256	2,383	2,511
Expected return on plan assets	(1,368)	(1,383)	(2,736)	(2,766)
Recognition of prior service cost	0	0	0	0
Recognition of actuarial losses/(gains)	520	548	1,041	1,096
Net periodic pension cost/(credit)	740	710	1,482	1,420
Other Pension Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Service cost, net	3,892	3,425	7,912	6,821
Interest cost on projected benefit obligations	4,370	4,916	8,849	9,792
Expected return on plan assets	(9,050)	(8,645)	(18,395)	(17,212)
Recognition of prior service cost	(1,120)	(1,060)	(2,281)	(2,110)
Recognition of actuarial losses/(gains)	3,638	2,561	7,399	5,098
Net periodic pension cost/(credit)	1,730	1,197	3,484	2,389
Defined Benefit Plan, Expected Future Employer Contributions, Current Fiscal Year, Description	27,300		27,300
Other Postretirement Benefits Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Service cost, net	0	0	0	0
Interest cost on projected benefit obligations	6	8	13	15
Expected return on plan assets	0	0	0	0
Recognition of prior service cost	(19)	(19)	(38)	(38)
Recognition of actuarial losses/(gains)	8	(1)	16	(1)
Net periodic pension cost/(credit)	$ (5)	$ (12)	$ (9)	$ (24)

Other Charges , Net Other Charg

Other Charges , Net Other Charges, Net (Details) - USD ($) $ in Millions	3 Months Ended	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2024	Jun. 30, 2023
Other Income and Expenses [Abstract]
Non-service pension costs (benefits)	$ 1.9	$ 3.8	$ 3.7

Segment Reporting (Details)

Segment Reporting (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023	Sep. 30, 2022
Operations of the Company's operating segments
Net Sales to External Customers	$ 946,750	$ 982,117	$ 1,872,699	$ 1,910,855
Revenue Transactions With Other Operating Segments	0	0	0	0
Net Sales	946,750	982,117	1,872,699	1,910,855
Segment Profit	284,101	307,704	551,429	574,155
Goodwill	665,359		665,359		$ 670,108	$ 665,100
Swiss Operations [Member]
Operations of the Company's operating segments
Net Sales to External Customers	50,185	46,803	104,435	93,172
Revenue Transactions With Other Operating Segments	169,194	181,073	392,565	383,207
Net Sales	219,379	227,876	497,000	476,379
Segment profit	55,804	66,914	114,890	143,336
Goodwill	25,841		25,841			25,865
Western European Operations [Member]
Operations of the Company's operating segments
Net Sales to External Customers	202,313	192,075	417,078	391,499
Revenue Transactions With Other Operating Segments	42,171	47,766	89,909	92,642
Net Sales	244,484	239,841	506,987	484,141
Segment profit	45,124	38,747	95,435	83,270
Goodwill	99,401		99,401			100,452
Chinese Operations [Member]
Operations of the Company's operating segments
Net Sales to External Customers	164,384	221,669	307,582	407,437
Revenue Transactions With Other Operating Segments	81,894	67,279	162,536	127,731
Net Sales	246,278	288,948	470,118	535,168
Segment profit	99,496	119,722	175,319	200,963
Goodwill	601		601			603
Other Operations [Member]
Operations of the Company's operating segments
Net Sales to External Customers	167,653	162,455	335,266	322,231
Revenue Transactions With Other Operating Segments	7,604	13,601	10,936	14,559
Net Sales	175,257	176,056	346,202	336,790
Segment profit	24,628	24,440	49,810	48,683
Goodwill	13,131		13,131			13,721
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	(336,880)	(343,460)	(729,381)	(685,128)
Net Sales	(336,880)	(343,460)	(729,381)	(685,128)
Segment profit	(41,198)	(46,325)	(77,908)	(88,097)
Goodwill	0		0			0
US Operations [Member]
Operations of the Company's operating segments
Net Sales to External Customers	362,215	359,115	708,338	696,516
Revenue Transactions With Other Operating Segments	36,017	33,741	73,435	66,989
Net Sales	398,232	392,856	781,773	763,505
Segment profit	100,247	$ 104,206	193,883	$ 186,000
Goodwill	$ 526,385		$ 526,385			$ 524,459

Segment Reporting (Details 1)

Segment Reporting (Details 1) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Reconciliation of earnings before taxes to segment profit
Amortization	$ 18,178	$ 18,042	$ 36,406	$ 35,821
Interest expense	18,950	19,249	38,182	37,433
Restructuring Charges	5,329	8,021	14,993	12,295
Other charges (income), net	(1,533)	(1,011)	(1,876)	(1,407)
Segment Profit Information	284,101	307,704	551,429	574,155
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest, Total	$ 243,177	$ 263,403	$ 463,724	$ 490,013

Segment Reporting (Details Text

Segment Reporting (Details Textuals) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Segment Reporting (Textuals) [Abstract]
Restructuring Charges	$ 5,329	$ 8,021	$ 14,993	$ 12,295

Uncategorized Items - mtd-20240

Label	Element	Value
APIC, Share-Based Payment Arrangement, Increase for Cost Recognition	us-gaap_AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue	$ 4,027,000