METTLER TOLEDO INTERNATIONAL INC/, 10-K filed on 2/9/2024
Annual Report
v3.24.0.1
Document and Entity Information Document - USD ($)
$ / shares in Units, $ in Billions
 12 Months Ended
Dec. 31, 2023
Jan. 25, 2024
Jun. 30, 2023
Dec. 31, 2022
Document and Entity Information        
Amendment Flag false      
City Area Code 44      
Document Type 10-K      
Document Annual Report true      
Document Transition Report false      
Document Period End Date Dec. 31, 2023      
Entity Central Index Key 0001037646      
Current Fiscal Year End Date --12-31      
Entity File Number 001-13595      
Document Fiscal Year Focus 2023      
Document Fiscal Period Focus FY      
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 Im Langacher 44      
Entity Address, City or Town Greifensee      
Entity Address, Postal Zip Code CH 8606      
Entity Address, Country CH      
Local Phone Number 944-22-11      
Title of 12(b) Security Common Stock, $0.01 par value      
Trading Symbol MTD      
Security Exchange Name NYSE      
Entity Well-known Seasoned Issuer Yes      
Entity Voluntary Filers No      
Entity Current Reporting Status Yes      
Entity Interactive Data Current Yes      
Entity Filer Category Large Accelerated Filer      
Entity Small Business false      
Entity Emerging Growth Company false      
Entity Shell Company false      
Entity Common Stock, Shares Outstanding   21,478,705    
Common Stock, Par or Stated Value Per Share $ 0.01     $ 0.01
Entity Public Float     $ 28.7  
ICFR Auditor Attestation Flag true      
Other Address        
Document and Entity Information        
City Area Code 614      
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      
Local Phone Number 438-4511      
v3.24.0.1
Audit Information
 12 Months Ended
Dec. 31, 2023
Auditor Information [Abstract]  
Auditor Firm ID 238
Auditor Name PricewaterhouseCoopers LLP
Auditor Location Columbus, Ohio
v3.24.0.1
Consolidated Statements of Operations - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Revenues $ 3,788,309 $ 3,919,709 $ 3,717,930
Gross profit 2,241,286 2,308,042 2,171,553
Research and development 185,284 177,122 169,766
Selling, general and administrative 904,106 938,461 943,976
Amortization 72,213 66,239 63,075
Interest Expense 77,366 55,392 43,242
Restructuring Charges 32,735 9,556 5,239
Other Charges (Income), Net (4,146) (9,320) (3,106)
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest (973,728) (1,070,592) (949,361)
Provision for taxes 184,950 198,090 180,376
Net earnings $ 788,778 $ 872,502 $ 768,985
Basic earnings per common share:      
Net earnings $ 36.10 $ 38.79 $ 33.25
Weighted average number of common shares 21,848,122 22,491,790 23,129,862
Diluted earnings per common share:      
Net earnings $ 35.90 $ 38.41 $ 32.78
Weighted average number of common and common equivalent shares 21,971,528 22,718,290 23,457,630
Product [Member]      
Revenues $ 2,906,661 $ 3,118,721 $ 2,960,615
Cost of Sales 1,144,167 1,227,230 1,181,020
Service [Member]      
Revenues 881,648 800,988 757,315
Cost of Sales $ 402,856 $ 384,437 $ 365,357
v3.24.0.1
Statement of Comprehensive Income - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Statement of Comprehensive Income [Abstract]      
Net earnings $ 788,778 $ 872,502 $ 768,985
Foreign currency translation adjustment (34,366) (63,298) 11,535
Unrealized gains (losses) on cash flow hedging arrangements:      
Unrealized gains (losses) (12,372) 10,029 4,394
Effective portion of (gains) losses included in net earnings 8,236 (5,775) (2,913)
Defined benefit pension and post-retirement plans:      
Net actuarial gains (losses) (48,736) 70,672 19,293
Plan amendments and prior service cost (64) (9) 18,831
Amortization of actuarial (gains) losses and plan amendments and prior service cost 6,482 13,278 19,326
Impact of foreign currency (11,762) 3,094 9,235
Total other comprehensive income (loss), net of tax (92,582) 27,991 79,701
Total other comprehensive income (loss), net of tax $ 696,196 $ 900,493 $ 848,686
v3.24.0.1
Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2023
Dec. 31, 2022
Current assets:    
Cash and cash equivalents $ 69,807 $ 95,966
Trade accounts receivable, less allowances of $17,009 in 2019 and $15,469 in 2018 663,893 709,321
Inventories 385,865 441,694
Other current assets and prepaid expenses 110,638 128,108
Total current assets 1,230,203 1,375,089
Property, plant and equipment, Net 803,374 778,600
Goodwill 670,108 660,170
Other intangible assets, net 285,429 306,054
Deferred tax assets, net 31,199 27,080
Other non-current assets 335,242 345,402
Total assets 3,355,555 3,492,395
Current liabilities:    
Trade accounts payable 210,411 252,538
Accrued and other liabilities 196,138 205,253
Accrued compensation and related items 160,308 200,031
Contract with Customer, Liability 202,022 192,759
Taxes payable 219,984 191,096
Short-term borrowings and current maturities of long-term debt 192,219 106,054
Total current liabilities 1,181,082 1,147,731
Long-term debt 1,888,620 1,908,480
Non-current deferred tax liabilities 108,679 111,360
Other non-current liabilities 327,112 300,031
Total liabilities 3,505,493 3,467,602
Commitments and contingencies (Note 16)
Shareholders’ equity:    
Preferred stock, $0.01 par value per share; authorized 10,000,000 shares 0 0
Common stock, $0.01 par value per share; authorized 125,000,000 shares; issued 44,786,011 and 44,786,011 shares, outstanding 24,125,317 and 24,921,963 shares at December 31, 2018 and 2017, respectively 448 448
Additional paid-in capital 871,110 850,368
Treasury stock at cost (20,660,694 and 19,864,048 shares at December 31, 2019 and 2018, respectively) (8,212,437) (7,325,656)
Retained earnings 7,510,756 6,726,866
Accumulated Other Comprehensive Income (Loss), Net of Tax (319,815) (227,233)
Total shareholders’ equity (149,938) 24,793
Total liabilities and shareholders’ equity $ 3,355,555 $ 3,492,395
v3.24.0.1
Consolidated Balance Sheets (Parentheticals) - USD ($)
$ in Thousands
Dec. 31, 2023
Dec. 31, 2022
Allowance For Bad Debt $ 20,103 $ 22,427
Preferred stock - par value per share $ 0.01 $ 0.01
Preferred stock - authorized shares 10,000,000 10,000,000
Common Stock, Par or Stated Value Per Share $ 0.01 $ 0.01
Common stock - authorized shares 125,000,000 125,000,000
Common stock - issued shares 44,786,011 44,786,011
Common stock - outstanding shares 21,526,172 22,139,009
Treasury Stock, Common, Shares 23,259,839 22,647,002
v3.24.0.1
Consolidated Statements of Shareholders' Equity - USD ($)
$ in Thousands
Total
Common Stock [Member]
Additional Paid-in Capital [Member]
Retained Earnings [Member]
Accumulated Other Comprehensive Income (Loss) [Member]
Treasury Stock, Common
Beginning balance at Dec. 31, 2020 $ 282,675 $ 448 $ 805,140 $ 5,095,596 $ (334,925) $ (5,283,584)
Beginning balance, shares at Dec. 31, 2020   23,471,841        
Exercise of stock options and restricted stock units, shares 110,748 110,748        
Exercise of stock options and restricted stock units, Value $ (20,463)     (5,309)   (24,533)
Repurchases of Common Stock, Shares (739,486) (739,486)        
Repurchases of Common Stock, Value $ (999,998)         (999,998)
APIC, Share-based Payment Arrangement, Other, Increase for Cost Recognition 19,595   19,595      
Net earnings 768,985     768,985    
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent 79,701       79,701  
Ending balance at Dec. 31, 2021 $ 171,421 $ 448 825,974 5,859,272 (255,224) (6,259,049)
Ending balance, shares at Dec. 31, 2021   22,843,103        
APIC, Share-based Payment Arrangement, Restricted Stock Unit, Increase for Cost Recognition     1,239      
Exercise of stock options and restricted stock units, shares 133,916 133,916        
Exercise of stock options and restricted stock units, Value $ (33,216)     (4,908)   (33,391)
Repurchases of Common Stock, Shares (838,010) (838,010)        
Repurchases of Common Stock, Value $ (1,099,998)         (1,099,998)
APIC, Share-based Payment Arrangement, Other, Increase for Cost Recognition 19,661   19,661      
Net earnings 872,502     872,502    
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent 27,991       27,991  
Ending balance at Dec. 31, 2022 $ 24,793 $ 448 850,368 6,726,866 (227,233) (7,325,656)
Ending balance, shares at Dec. 31, 2022 22,139,009 22,139,009        
APIC, Share-based Payment Arrangement, Restricted Stock Unit, Increase for Cost Recognition     4,733      
Exercise of stock options and restricted stock units, shares 79,076 79,076        
Exercise of stock options and restricted stock units, Value $ (19,234)     (4,888)   (21,308)
Repurchases of Common Stock, Shares 691,913 (691,913)        
Repurchases of Common Stock, Value $ (900,000)         (900,000)
Excise tax on net repurchases of common stock           8,089
APIC, Share-based Payment Arrangement, Other, Increase for Cost Recognition 17,928   17,928      
Net earnings 788,778     788,778    
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent (92,582)       (92,582)  
Ending balance at Dec. 31, 2023 $ (149,938) $ 448 871,110 $ 7,510,756 $ (319,815) $ (8,212,437)
Ending balance, shares at Dec. 31, 2023 21,526,172 21,526,172        
APIC, Share-based Payment Arrangement, Restricted Stock Unit, Increase for Cost Recognition     $ 2,814      
v3.24.0.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Cash flows from operating activities:      
Net earnings $ 788,778 $ 872,502 $ 768,985
Adjustments to reconcile net earnings to net cash provided by operating activities:      
Depreciation 48,951 46,784 44,982
Amortization 72,213 66,239 63,075
Deferred tax (benefit) provision (13,373) 26,517 563
Share-based compensation 17,928 19,661 19,595
Business Combination, Contingent Consideration Arrangements, Change in Amount of Contingent Consideration, Liability 0 0 6,849
Other 0 0 381
Increase (decrease) in cash resulting from changes in:      
Trade accounts receivable, net 50,296 (83,417) (66,468)
Inventories 71,021 (43,392) (118,718)
Other current assets 20,666 (16,263) (5,040)
Trade accounts payable (40,554) (13,826) 93,973
Taxes payable 12,260 55,859 19,688
Accruals and other (62,312) (71,597) 80,960
Net Cash Provided by (Used in) Operating Activities 965,874 859,067 908,825
Cash flows from investing activities:      
Proceeds from sale of property, plant and equipment 835 399 3,652
Purchase of property, plant and equipment (105,323) (121,241) (107,580)
Proceeds from government funding 6,094 29,670  
Acquisitions (5,811) (37,951) (220,862)
Net hedging settlements on intercompany loans 27,489 10,272 (10,682)
Net cash used in investing activities (131,694) (139,395) (314,108)
Cash flows from financing activities:      
Proceeds from borrowings 2,126,797 2,307,256 2,427,519
Repayments of borrowings (2,097,023) (1,947,398) (2,035,546)
Proceeds from exercise of stock options 19,234 33,216 20,463
Repurchases of common stock (900,000) (1,099,998) (999,998)
Acquisition contingent consideration paid (7,767) (7,912) 0
Other financing activities (826) (1,203) (2,987)
Net cash provided by (used in) financing activities (859,585) (716,039) (590,549)
Effect of Exchange Rate on Cash, Cash Equivalents, Restricted Cash, and Restricted Cash Equivalents, Continuing Operations (754) (6,231) 142
Net increase (decrease) in cash and cash equivalents (26,159) (2,598) 4,310
Cash and cash equivalents:      
Cash and Cash Equivalents, at Carrying Value, Beginning 95,966 98,564 94,254
Cash and Cash Equivalents, at Carrying Value, End 69,807 95,966 98,564
Supplemental disclosures of cash flow information:      
Interest 75,618 52,314 41,338
Taxes $ 178,255 $ 114,038 $ 152,657
v3.24.0.1
Statement of Financial Position, Classified
 12 Months Ended
Dec. 31, 2023
Statement of Financial Position [Abstract]  
Schedule of Valuation and Qualifying Accounts Disclosure
Schedule II — Valuation and Qualifying Accounts (in thousands)
Column AColumn BColumn CColumn DColumn E
  Additions  
 (1)(2)  
 Balance at the
Beginning of
Period		Charged to
Costs and Expenses		Charged to
Other Accounts		 Balance at End
of Period
Description-Deductions-
   Note (A)Note (B) 
Deferred tax valuation allowance:     
Year ended December 31, 2023$62,615 $7,548 $4,149 $852 $73,460 
Year ended December 31, 2022$51,126 $6,103 $6,284 $898 $62,615 
Year ended December 31, 2021$52,388 $2,058 $— $3,320 $51,126 
_______________________________________
Note (A)
Amounts in 2023 primarily relate to changes in foreign currency.Amounts in 2022 primarily relate to disallowed interest expense deductions.
Note (B)
Amounts in 2023 primarily relate to changes in the state tax net operating losses and credits. The amounts in 2022 primarily relate to changes in foreign currency. Amounts in 2021 include changes in state net operating losses and credits, foreign tax credit, and R&D credit carryforwards.
v3.24.0.1
Business Description and Basis of Presentation
 12 Months Ended
Dec. 31, 2023
BUSINESS DESCRIPTION AND BASIS OF PRESENTATION [Abstract]  
Business Description and Basis of Presentation Disclosure BUSINESS DESCRIPTION AND 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, Switzerland, the United States, Germany, the United Kingdom, and Mexico. The Company’s principal executive offices are located in Columbus, Ohio and Greifensee, Switzerland.
The 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 preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, as well as disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting periods. Actual results may differ from those estimates due to uncertainty around the ongoing developments related to Ukraine and the Israel-Hamas war, as well as other factors. A discussion of the Company's significant accounting policies is included in the Notes to the Consolidated Financial Statements included within this filing.
All intercompany transactions and balances have been eliminated.
v3.24.0.1
Summary of Significant Accounting Policies
 12 Months Ended
Dec. 31, 2023
Summary of Significant Accounting Policies [Abstract]  
Summary of Significant Accounting Policies Disclosure SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Cash and Cash Equivalents
Cash and cash equivalents include highly liquid investments with original maturity dates of three months or less. The carrying value of these cash equivalents approximates fair value.
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 current and historical 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, expected future 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.
Long-Lived Assets
a)Property, Plant, and Equipment
Property, plant, and equipment are stated at cost less accumulated depreciation. Repair and maintenance costs are charged to expense as incurred. The Company capitalizes certain direct costs related to the acquisition and development of internal-use computer software. Externally purchased software is capitalized when we obtain legal ownership and is amortized over its useful life ranging from three to five years. Internally developed software costs for internal use are capitalized once the preliminary project stage is complete and it is probable that the project will be completed and the software will be used to perform the function intended. Costs associated with internal-use software are amortized on a straight-line basis over 10 years. Fully depreciated assets other than capitalized internally developed software are retained in property, plant, and equipment and accumulated depreciation accounts until disposal.
Depreciation and amortization are charged on a straight-line basis over the estimated useful lives of the assets as follows:
Buildings and improvements15 to 50 years
Machinery and equipment3 to 12 years
Computer software3 to 10 years
Leasehold improvementsShorter of useful life or lease term
In September 2021, the Company entered into an agreement with the U.S. Department of Defense to increase domestic production capacity of pipette tips and enhance manufacturing automation and logistics. As of December 31, 2023, we have received the maximum allowable funding of $35.8 million related to the agreement, which offset associated capital expenditures. In accordance with ASU 2021-10: Government Assistance, the Company applies guidance within IAS 20 - Accounting for Government Grants and Disclosure and accounts for the government agreement by reducing the cost of the asset within property, plant, and equipment in the consolidated balance sheets by the amount of the funds received.
b)Goodwill and Other Intangible Assets
Goodwill, representing the excess of purchase price over the fair value of the net assets 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 evaluations of goodwill and indefinite-lived intangible assets are generally based on an assessment of qualitative factors to determine whether it is more likely than not that the fair value of the asset is less than its carrying amount.
If the Company is unable to conclude whether the goodwill or indefinite-lived intangible asset is not impaired after considering the totality of events and circumstances during its qualitative assessment, the Company performs a quantitative assessment by estimating the fair value of the respective reporting unit or indefinite-lived intangible asset and comparing the fair value to the carrying amount. If the carrying amount of the reporting unit or indefinite-lived intangible asset exceeds its fair value, an impairment charge equal to the difference is recognized.
Other intangible assets include indefinite-lived assets and assets subject to amortization. Where applicable, amortization is charged on a straight-line basis over the expected period to be benefited. The straight-line method of amortization reflects an appropriate allocation of the cost of the intangible assets to earnings in proportion to the amount of economic benefits obtained by the Company in each reporting period. The Company assesses the initial acquisition of intangible assets in accordance with the provisions
of ASC 805 - Business Combinations and the continued accounting for previously recognized intangible assets and goodwill in accordance with the provisions of ASC 350 - Intangible - Goodwill and Other and ASC 360 - Property, Plant, and Equipment.
Accounting for Impairment of Long-Lived Assets
The Company assesses the need to record impairment losses on long-lived assets (asset group) with finite lives when events or changes in circumstances indicate that the carrying amount of assets may not be recoverable. An impairment loss would be recognized when future estimated undiscounted cash flows expected to result from use and eventually disposition of that asset (asset group) are less than the asset’s carrying value, with the loss measured as the difference between carrying value and estimated fair value.
Taxation
The Company files tax returns in each jurisdiction in which it operates. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities, their respective tax bases, and operating loss and tax credit carryforwards. Deferred tax assets and liabilities are measured using enacted tax rates in the respective jurisdictions in which the Company operates. In assessing the ability to realize deferred tax assets, management considers whether it is more likely than not that some portion or all of the deferred tax assets will not be realized. The valuation allowance is based on management’s estimates of future taxable income and application of relevant income tax law.
Deferred taxes are not provided on the unremitted earnings of subsidiaries outside of the United States when it is expected that these earnings are permanently reinvested. Such earnings may become taxable upon the sale or liquidation of these subsidiaries or upon the remittance of dividends. Deferred taxes are provided when the Company no longer considers subsidiary earnings to be permanently invested, such as in situations where the Company’s subsidiaries plan to make future dividend distributions.
In accordance with the Tax Cuts and Jobs Act, the Company treats taxes due on future Global Intangible Low-Taxed Income (GILTI) inclusions in U.S. taxable income as a current period expense when incurred.
The Company recognizes accrued amounts of interest and penalties related to its uncertain tax positions as part of income tax expense within its consolidated statement of operations.
Currency Translation and Transactions
The reporting currency for the consolidated financial statements of the Company is the U.S. dollar. The functional currency for the Company’s operations is generally the applicable local currency. Accordingly, the assets and liabilities of companies whose functional currency is other than the U.S. dollar are included in the consolidated financial statements by translating the assets and liabilities into the reporting currency at the exchange rates applicable at the end of the reporting period. The statements of operations and cash flows of such non-U.S. dollar functional currency operations are translated at the monthly weighted average exchange rates during the year. Translation gains or losses are accumulated in other comprehensive income (loss) in the consolidated statements of shareholders’ equity. Transaction gains and losses are included as a component of net earnings or in certain circumstances as a component of other comprehensive income (loss) where the underlying item is considered a hedge of a net investment or relates to intercompany notes that are long term in nature.
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 contracts have a separate performance obligation, revenue related to any post-shipment performance obligation is deferred until completed. Shipping and handling costs charged to customers are included in total net sales and the associated expense is a component of cost of sales. Certain products are also sold through indirect distribution channels whereby the distributor assumes any further obligations to the end-customer. Revenue is recognized on these distributor arrangements upon transfer of control to the distributor. Contracts do not contain variable pricing arrangements that are retrospective, except for rebate programs. Rebates are estimated based on expected sales volumes and offset against revenue at the time such revenue is recognized. The Company generally maintains the right to accept or reject a product return in its terms and conditions and also maintains appropriate accruals for outstanding credits. The 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 limited number of small software applications. The Company primarily sells software products with 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.
Leases
The Company considers an arrangement a lease if the arrangement transfers the right to control the use of an identified asset in exchange for consideration. The Company has operating leases, but does not have material financing leases.
Operating lease right-of-use assets represent the right to use an underlying asset for the lease term, and lease liabilities represent the obligation to make payments arising from the lease agreement. These assets and liabilities are recognized at the commencement of the lease based upon the present value of the lease payments over the lease term. Lease payments include both lease and non-lease components for items or activities that transfer a good and service. Vehicle lease and non-lease components are separately accounted for based on stand-alone value. Real estate lease and non-lease components are accounted for as a single component. Operating lease right-of-use assets include initial direct costs, advanced lease payments, and lease incentives.
The lease term reflects the noncancellable period of the lease together with periods covered by an option to extend or terminate the lease when management is reasonably certain that it will exercise such option. The Company applies its incremental borrowing rate at the lease commencement date in determining the present value of lease payments as the information necessary to determine the rate implicit in the lease is not readily available. The incremental borrowing rate reflects similar terms by geographic location to the underlying leases. The Company’s lease agreements do not contain any material residual value guarantees or material restrictive covenants.
Lease expense for operating leases is recognized on a straight-line basis over the lease term. Variable lease payments consist of non-lease services related to the lease. Variable lease payments are excluded from the right-of-use asset and lease liabilities and are expensed as incurred. Short-term leases are less than one year without purchase or renewal options that are reasonably certain to be exercised and are recognized on a straight-line basis over the lease term. The right-of-use asset is tested for impairment in accordance with ASC 360.
Research and Development
Research and development costs primarily consist of salaries, consulting, and other costs. The Company expenses these costs as incurred.
Restructuring charges
Restructuring charges include costs associated with exit and disposal activities including employee termination benefits, contract termination and other costs associated with various cost saving initiatives undertaken by the Company.
In situations where contractual termination benefits exist, the Company records accruals for employee termination benefits when it is probable that a liability has been incurred and the amount of the liability is reasonably estimable. All other employee termination arrangements are recognized and measured at their fair value at the communication date unless the employee is required to render additional service beyond the legal notification period, in which case the liability is recognized ratably over the future service period.
Earnings per Common Share
In accordance with the treasury stock method, the Company has included 123,406, 226,500, and 327,768 common equivalent shares in the calculation of diluted weighted average number of common shares for the years ended December 31, 2023, 2022, and 2021, respectively, relating to outstanding stock options and restricted stock units.
Outstanding options and restricted stock units to purchase or receive 54,840, 42,855, and 24,036 shares of common stock for the years ended December 31, 2023, 2022, and 2021, respectively, have been excluded from the calculation of diluted weighted average number of common and common equivalent shares as such options and restricted stock units would be anti-dilutive.
Equity-Based Compensation
The Company applies the fair value methodology in accounting for its equity-based compensation plan.
Derivative Financial Instruments
The Company has limited involvement with derivative financial instruments and does not use them for trading purposes. As described more fully in Note 6, the Company primarily enters into foreign currency forward exchange contracts to economically hedge certain short-term intercompany balances involving its international businesses. Such contracts limit the Company’s exposure to currency fluctuations on the underlying hedged item. These contracts are adjusted to fair market value as of each balance sheet date, with the resulting changes in fair value being recognized in other charges (income), consistent with the underlying hedged item.
The Company also enters into interest rate swap agreements and cross currency swaps in order to manage its exposure to changes in interest rates. The differential paid or received on interest rate swap agreements is recognized as incurred in interest expense over the life of the hedge agreements. Floating to fixed interest rate swap agreements are accounted for as cash flow hedges. Changes in fair value of outstanding interest rate swap agreements that are effective as cash flow hedges are initially recognized in other comprehensive income as incurred.
Fair Value Measurements
The Company measures or monitors certain assets and liabilities on a fair value basis. Fair value is used on a recurring basis for assets and liabilities in which fair value is the primary basis of accounting, mainly derivative instruments. 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. When determining the fair value measurements for assets and liabilities required to be recorded at fair value, the Company considers the principal or most advantageous market in which it would transact and considers assumptions that market participants would use when pricing the asset or liability. The Company applies the fair value hierarchy established under U.S. GAAP and when possible looks to active and observable markets to price identical assets and liabilities. If identical assets and liabilities are not traded in active markets, the Company looks to observable market data for similar assets and liabilities.
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. 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. During the period ended December 31, 2023, the Company amended its credit agreement and cross currency swap agreements 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 in June 2023 did not have a material impact on the Company’s financial statements.
In November 2021, the FASB issued ASU 2021-10: Government Assistance, which increases the transparency of government assistance including the disclosure of the types of assistance, an entity's accounting for the assistance, and the effect of the assistance on an entity's financial statements. The Company early adopted this guidance on a prospective basis in the fourth quarter of 2021. The adoption of this guidance did not have a material impact on the Company's disclosures.
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 this guidance 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 this guidance on the consolidated financial statements.
v3.24.0.1
Revenue from Contracts with Customers
 12 Months Ended
Dec. 31, 2023
Revenue from Contract with Customer [Abstract]  
Revenue from Contract with Customer [Text Block] REVENUE
The Company disaggregates revenue from contracts with customers by product, service, timing of revenue recognition, and geography. A summary by the Company’s reportable segments follows for the years ended December 31:
Twelve months ended December 31, 2023U.S. OperationsSwiss OperationsWestern European OperationsChinese OperationsOther OperationsTotal
Product Revenue$1,039,766 $147,792 $542,707 $656,834 $519,562 $2,906,661 
Service Revenue:
Point in time
279,234 29,917 170,343 45,127 131,214 655,835 
Over time
84,919 10,970 79,857 16,857 33,210 225,813 
Total$1,403,919 $188,679 $792,907 $718,818 $683,986 $3,788,309 
Twelve months ended December 31, 2022U.S. OperationsSwiss OperationsWestern European OperationsChinese OperationsOther OperationsTotal
Product Revenue$1,113,983 $139,490 $581,168 $777,276 $506,804 $3,118,721 
Service Revenue:
Point in time
256,837 27,800 134,781 46,931 121,786 588,135 
Over time
73,640 8,829 83,982 17,319 29,083 212,853 
Total$1,444,460 $176,119 $799,931 $841,526 $657,673 $3,919,709 
Twelve months ended December 31, 2021U.S. OperationsSwiss OperationsWestern European OperationsChinese OperationsOther OperationsTotal
Product Revenue$1,004,891 $135,987 $600,527 $707,355 $511,855 $2,960,615 
Service Revenue:
Point in time
218,306 26,764 151,656 48,343 120,860 565,929 
Over time
64,786 8,882 77,578 15,953 24,187 191,386 
Total$1,287,983 $171,633 $829,761 $771,651 $656,902 $3,717,930 
The Company's global revenue mix by product category for the year ended December 31, 2023 is laboratory (55% of sales), industrial (39% of sales), and retail (6% of sales). The Company’s product revenue by reportable segment is proportionately similar to the Company’s global mix with the exception of the Company’s Swiss Operations, which is largely comprised of laboratory products, and the Company’s Chinese Operations, which has a slightly higher percentage of industrial products. A breakdown of the Company’s sales by product category for the year ended December 31 follows:
202320222021
Laboratory$2,068,807 $2,230,381 $2,083,025 
Industrial1,490,445 1,510,554 1,446,544 
Retail229,057 178,774 188,361 
Total net sales$3,788,309 $3,919,709 $3,717,930 
A breakdown of net sales to external customers by geographic customer destination, net for the year ended December 31 follows:
 202320222021
Americas$1,568,210 $1,582,493 $1,419,832 
Europe1,015,498 1,014,360 1,062,961 
Asia/Rest of World1,204,601 1,322,856 1,235,137 
Total$3,788,309 $3,919,709 $3,717,930 
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 December 31, 2023 and 2022 was $35.7 million and $29.2 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 period are as follows:
202320222021
Beginning balances as of January 1$192,759 $192,648 $149,106 
Customer prepayments/deferred revenue670,178 731,482 711,067 
Revenue recognized(663,165)(720,362)(667,245)
Foreign currency translation2,250 (11,009)(280)
Ending balance as of December 31$202,022 $192,759 $192,648 
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.
v3.24.0.1
Acquisitions
 12 Months Ended
Dec. 31, 2023
Business Combinations [Abstract]  
Business Combination Disclosure [Text Block] ACQUISITIONS
In March 2021, the Company acquired all the membership interests of Mayfair Technology, LLC (PendoTECH), a manufacturer and distributor of single-use sensors, transmitters, control systems, and software for measuring, monitoring, and data collection primarily in bioprocess applications. PendoTECH serves biopharmaceutical manufacturers and life science laboratories and is located in the United States. The initial cash payment was $185.0 million and the Company made other post-closing payments of $7.4 million, as well as additional consideration of $20.0 million based upon financial thresholds in 2022 and 2023. The estimated fair value of the contingent consideration obligation at the time of acquisition of $13.5 million was determined using a Monte Carlo simulation based on the Company's forecast of future financial results. During the fourth quarter of 2021, the Company increased the contingent consideration obligation to $20.0 million, based upon actual results and future financial projections, plus related obligations of $0.3 million due to the sellers. The $6.8 million increase to the contingent consideration and related obligations to the sellers was recorded in other charges (income), net. As of December 31, 2023, the $20.0 million of additional consideration has been paid.
Goodwill recorded in connection with the acquisition totaled $93.1 million, which is deductible for tax purposes. Identified intangible finite-lived assets acquired include customer relationships of $78.6 million, technology and patents of $21.7 million, trade name of $3.4 million, and other intangibles of $2.4 million. The Company used variations of the income statement approach in determining the fair value of the intangible assets acquired. Specifically, the multi-period excess earnings method was used to determine the fair value of the customer relationships acquired and the relief from royalty method was used to determine the fair value of the technology and patents. The Company's determination of the fair value of the intangible assets acquired involved the use of significant estimates and assumptions principally related to revenue growth, royalty, and customer attrition rates.
The identifiable finite-lived intangible assets are being amortized on a straight-line basis over periods of 5 to 20 years and the annual aggregate amortization expense is estimated at $6.9 million. Net tangible assets acquired were $7.4 million and were recorded at fair value in the consolidated financial statements. All of the acquired assets are included in the Company's U.S. Operations segment.
In October 2021, the Company acquired Scale-up Systems Inc., a leading software provider for scale-up and reaction modeling serving the biopharma and chemical markets. The initial cash payment was $20.2 million plus additional consideration up to EUR 3.0 million. As of December 31, 2023, EUR 2.6 million of additional consideration has been paid and no further obligation remains. Goodwill recorded in connection with the acquisition totaled $11.1 million, which is deductible for tax purposes. The Company also recorded $11.4 million of identifiable finite-lived intangibles primarily pertaining to technology and patents and customer relationships in connection with this acquisition, which will be amortized on a
straight-line basis over 7 to 10 years. All of the acquired assets are included in the Company's Western European Operations segment.
In 2023, the Company incurred acquisition payments totaling $5.8 million. The Company recorded $3.0 million of identified intangibles primarily pertaining to technology in connection with these acquisitions, which will be amortized on a straight-line basis over 5 years. Goodwill recorded in connection with these acquisitions totaled $2.8 million.
In 2022 and 2021, the Company also incurred additional acquisition payments totaling $38.0 million and $8.3 million, respectively, associated with other immaterial acquisitions.
v3.24.0.1
Inventories
 12 Months Ended
Dec. 31, 2023
INVENTORIES [Abstract]  
Inventory Disclosure INVENTORIES
Inventories consisted of the following at December 31:
20232022
Raw materials and parts$180,352 $222,170 
Work-in-progress81,181 77,848 
Finished goods124,332 141,676 
Total inventory$385,865 $441,694 
v3.24.0.1
Financial Instruments
 12 Months Ended
Dec. 31, 2023
Financial Instruments [Abstract]  
Financial Instruments Disclosure FINANCIAL INSTRUMENTS
The Company has limited involvement with derivative financial instruments and does not use them for trading purposes. The Company enters into certain interest rate and cross currency swap agreements in order to manage its exposure to changes in interest rates. The amount of the Company’s fixed obligation interest payments may change based upon the expiration dates of its interest rate and cross currency swap agreement and the level and composition of its debt. The Company also enters into certain foreign currency forward contracts to limit the Company’s exposure to currency fluctuations on the respective hedged items. For additional disclosures on derivative instruments regarding balance sheet location, fair value, and the amounts reclassified into other comprehensive income and the effective portion of the cash flow hedges, also see Note 7 and Note 11 to the consolidated financial statements. As also mentioned in Note 10, the Company has designated its euro-denominated debt as a hedge of a portion of its net investment in a euro-denominated foreign subsidiary.
Cash Flow Hedges
The Company has entered into a number of cross currency swaps designated as cash flow hedges. The agreements convert borrowings under the Company’s credit facility into synthetic Swiss franc debt, which allows the Company to effectively change the floating rate SOFR-based interest payments, excluding the credit spread, to a fixed Swiss franc income or expense as follows:
Agreement DateAmount
Converted		Effective Swiss Franc
Interest Rate		Maturity Date
June 2019$50 million(0.82)%June 2023
November 2021$50 million(0.67)%November 2023
June 2021$50 million(0.73)%June 2024
June 2021$50 million(0.59)%June 2025
December 2023$50 million1.04%November 2026
November 2023$50 million1.16%November 2026
June 2023$50 million1.55%June 2027
The Company amended all active cross currency swap agreements to replace all references of LIBOR to SOFR as the interest rate benchmark to align with the amendment to the Company's Credit Facility Agreement, as discussed in Note 10 to the consolidated financial statements. As part of these amendments, the corresponding fixed Swiss franc interest rates were amended as well to reflect the change in the benchmark.
The Company’s cash flow hedges are recorded gross at fair value in the consolidated balance sheet at December 31, 2023 and 2022 and are disclosed in Note 7 to the consolidated financial statements. A derivative gain of $7.3 million based upon interest rates at December 31, 2023 is expected to be reclassified from other comprehensive income (loss) to earnings in the next 12 months. Through December 31, 2023, no hedge ineffectiveness has occurred in relation to these cash flow hedges.
Other Derivatives
The Company primarily enters into foreign currency forward contracts in order to economically hedge short-term intercompany balances largely denominated in Swiss franc, other major European currencies, and the Chinese renminbi with its foreign businesses. In accordance with U.S. GAAP, these contracts are considered “derivatives not designated as hedging instruments.” Gains or losses on these instruments are reported in current earnings. The foreign currency forward contracts are recorded at fair value in the consolidated balance sheet at December 31, 2023 and 2022, as disclosed in Note 7 to the consolidated financial statements. The Company recognized in other charges (income), net a net loss of $19.7 million and a net loss of $21.6 million and a net gain of $13.5 million during the years ended December 31, 2023, 2022, and 2021, respectively, which offset the related net transaction gains (losses) associated with these contracts. At December 31, 2023 and 2022, these contracts had a notional value of $793.9 million and $930.3 million, respectively.
The Company may be exposed to credit losses in the event of nonperformance by the counterparties to its derivative financial instrument contracts. Counterparties are established banks and financial institutions with high credit ratings. The Company believes that such counterparties will be able to fully satisfy their obligations under these contracts.
v3.24.0.1
Fair Value Measurements
 12 Months Ended
Dec. 31, 2023
Fair Value Measurements [Abstract]  
Fair Value Disclosures FAIR VALUE MEASUREMENTS
At December 31, 2023 and 2022, the Company had derivative assets totaling $8.3 million and $11.5 million, respectively, and derivative liabilities totaling $25.2 million and $5.4 million, respectively. The Company has limited involvement with derivative financial instruments and therefore does not present all the required disclosures in tabular format. The fair values of the interest rate swap agreements, the cross currency swap agreements, and the foreign currency forward contracts that economically hedge short-term intercompany balances are estimated based upon inputs from current valuation information obtained from dealer quotes and priced with observable market assumptions and appropriate valuation adjustments for credit risk. The Company has evaluated the valuation methodologies used to develop the fair values by dealers in order to determine whether such valuations are representative of an exit price in the Company’s principal market. In addition, the Company uses an internally developed model to perform testing on the valuations received from brokers. The Company has also considered both its own credit risk and counterparty credit risk in determining fair value and determined these adjustments were insignificant for the years ended December 31, 2023 and 2022.
Under U.S. GAAP, fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. A fair value measurement consists of observable and unobservable inputs that reflect the assumptions that a market participant would use in pricing an asset or liability.
A fair value hierarchy has been established that categorizes these inputs into three levels:
Level 1: Quoted prices in active markets for identical assets and liabilities
Level 2: Observable inputs other than quoted prices in active markets for identical assets and liabilities
Level 3: Unobservable inputs
The following table presents the Company’s assets and liabilities, which are all categorized as Level 2 and are measured at fair value on a recurring basis at December 31, 2023 and 2022. The Company does not have any assets or liabilities which are categorized as Level 1.
 20232022Balance Sheet Location
Foreign currency forward contracts not designated as hedging instruments$8,330 $3,958 Other current assets and prepaid expenses
Cash flow hedges:
Cross currency swap agreement— 609 Other current assets and prepaid expenses
Cross currency swap agreement— 6,890 Other non-current assets
Total derivative assets$8,330 $11,457 
Foreign currency forward contracts not designated as hedging instruments$8,245 $2,056 Accrued and other liabilities
Cash flow hedges:
Cross currency swap agreements2,678 3,366 Accrued and other liabilities
Cross currency swap agreements14,270 — Other non-current liabilities
Total derivative liabilities$25,193 $5,422 
The Company had $4.0 million and $25.3 million of cash equivalents at December 31, 2023 and 2022, 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 $204.1 million as of December 31, 2023. The fair value of the Company’s fixed interest rate debt was estimated using Level 2 inputs and primarily discounted cash flow models, based on estimated current rates offered for similar debt under current market conditions for the Company.
v3.24.0.1
Property, Plant and Equipment, Net
 12 Months Ended
Dec. 31, 2023
Property, Plant and Equipment, Net [Abstract]  
Property, Plant and Equipment Disclosure PROPERTY, PLANT, AND EQUIPMENT, NET
Property, plant, and equipment, net consisted of the following at December 31:
20232022
Land$64,870 $61,072 
Building and leasehold improvements407,836 372,398 
Machinery and equipment527,038 488,915 
Computer software507,464 512,494 
Property, plant, and equipment, gross1,507,208 1,434,879 
Less accumulated depreciation and amortization(703,834)(656,279)
Property, plant, and equipment, net$803,374 $778,600 
v3.24.0.1
Goodwill and Other Intangible Assets
 12 Months Ended
Dec. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Intangible Assets Disclosure GOODWILL AND OTHER INTANGIBLE ASSETS
The following table shows the changes in the carrying amount of goodwill for the years ended December 31:
20232022
Balance at beginning of year$660,170 $648,622 
Goodwill acquired2,810 18,644 
Foreign currency translation7,128 (7,096)
Balance at year end$670,108 $660,170 
Goodwill and indefinite-lived assets are reviewed for impairment on an annual basis in the fourth quarter. The Company completed its impairment review and determined that there had been no impairment of these assets through December 31, 2023. The Company identified no triggering events or
other circumstances which indicated the carrying amount of goodwill or intangible assets may not be recoverable.
The components of other intangible assets as of December 31 are as follows:
 20232022
Gross
Amount		Accumulated
Amortization		Intangibles, NetGross
Amount		Accumulated
Amortization		Intangibles, Net
Customer relationships$294,180 $(107,665)$186,515 $292,713 $(92,981)$199,732 
Proven technology and patents129,227 (75,014)54,213 123,623 (64,089)59,534 
Tradenames (finite life)7,908 (4,535)3,373 7,675 (3,543)4,132 
Tradenames (indefinite life)36,320 — 36,320 36,252 — 36,252 
Other13,236 (8,228)5,008 13,271 (6,867)6,404 
 $480,871 $(195,442)$285,429 $473,534 $(167,480)$306,054 
The Company recognized amortization expense associated with the above intangible assets of $27.6 million, $26.5 million, and $22.5 million for the years ended December 31, 2023, 2022, and 2021, respectively. The annual aggregate amortization expense based on the current balance of other intangible assets is estimated at $27.8 million for 2024, $26.9 million for 2025, $22.9 million for 2026, $21.3 million for 2027, and $19.5 million for 2028. The finite-lived intangible assets are amortized on a straight-line basis over periods ranging from 3 to 45 years. 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. Purchased intangibles amortization was $26.4 million, $20.5 million after tax, $25.5 million, $19.8 million after tax, and $21.6 million, $16.3 million after tax, for the years ended December 31, 2023, 2022, and 2021, respectively.
In addition to the above amortization, the Company recorded amortization expense associated with capitalized software, which is included in property, plant, and equipment in Note 8, of $44.4 million, $39.6 million, and $40.4 million for the years ended December 31, 2023, 2022, and 2021, respectively.
v3.24.0.1
Debt
 12 Months Ended
Dec. 31, 2023
Debt Disclosure [Abstract]  
Debt Disclosure DEBT
Debt consisted of the following at December 31:
20232022
4.10% $50 million 10-year Senior Notes due September 19, 2023— 50,000 
3.84% $125 million 10-year Senior Notes due September 19, 2024125,000 125,000 
4.24% $125 million 10-year Senior Notes due June 25, 2025125,000 125,000 
3.91% $75 million 10-year Senior Notes due June 25, 202975,000 75,000 
5.45% $150 million 10-year Senior Notes due March 1, 2033150,000 — 
2.83% $125 million 12-year Senior Notes due July 22, 2033125,000 125,000 
3.19% $50 million 15-year Senior Notes due January 24, 203550,000 50,000 
2.81% $150 million 15-year Senior Notes due March 17, 2037150,000 150,000 
2.91% $150 million 15-year Senior Notes due September 1, 2037150,000 150,000 
1.47% EUR 125 million 15-year Senior Notes due June 17, 2030137,966 133,794 
1.30% EUR 135 million 15-year Senior Notes due November 6, 2034149,003 144,497 
1.06% EUR 125 million 15-year Senior Notes due March 19, 2036137,966 133,794 
Senior Notes debt issuance costs, net(4,019)(4,521)
Total Senior Notes1,370,916 1,257,564 
$1.25 billion Credit Agreement, interest at benchmark plus 87.5 basis points(1)(2)
638,445 697,211 
Other local arrangements71,478 59,759 
Total debt2,080,839 2,014,534 
Less: current portion(192,219)(106,054)
Total long-term debt$1,888,620 $1,908,480 
(1) See Note 6 and Note 7 for additional disclosures on the financial instruments associated with the Credit Agreement.
(2) 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.
At December 31, 2023, the interest payments associated with 78% of the Company’s debt are fixed obligations. The Company’s weighted average interest rate was 3.6% and 2.8% for the years ended December 31, 2023 and 2022, respectively.
Senior Notes
The Senior Notes listed above are senior unsecured obligations of the Company and interest is payable semi-annually. The Company may at any time prepay the Senior Notes, in whole or in part, at a price equal to 100% of the principal amount thereof, plus accrued and unpaid interests, and in some instances a “make whole” prepayment premium. The Euro Senior Notes, if prepaid, may also include a swap related currency loss. The Senior Notes each contain customary affirmative and negative covenants including, among others, limitations on the Company and its subsidiaries with respect to incurrence of liens and priority indebtedness, disposition of assets, mergers, and transactions with affiliates. In December 2021, the Company amended all of its U.S. Senior Note agreements to conform to the financial covenants in the underlying agreements. The amended agreements require the Company to maintain a consolidated interest coverage ratio of not less than 3.0 to 1.0 and a net consolidated leverage ratio of not more than 3.5 to 1.0. The Senior Notes also contain customary events of default with customary grace periods, as applicable. The Company was in compliance with its covenants at December 31, 2023.
Total issuance costs of approximately $4.0 million have been incurred by the Company related to the Senior Notes mentioned above and are being amortized to interest expense over the various terms.
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 on March 1, 2033. The terms of the 5.45% Senior Notes are consistent with the previous Senior Notes as described above. The Company used the proceeds from the sale of the 5.45% Senior Notes to refinance existing indebtedness and for other general corporate purposes.
In December 2021, the Company entered into an agreement to issue and sell $300 million 15-year Senior Notes in a private placement. The Company issued $150 million with a fixed interest rate of 2.81% (2.81% Senior Notes) in March 2022 and $150 million with a fixed interest rate of 2.91% (2.91% Senior Notes) in September 2022. The 2.81% and 2.91% Senior Notes are senior unsecured obligations of the Company. The 2.81% Senior Notes mature in March 2037 and the 2.91% Senior Notes mature in September 2037. The Company used the proceeds from the sale of the 2.81% and 2.91% Senior Notes to refinance existing indebtedness and for other general corporate purposes.
In December 2020, the Company entered into an agreement to issue and sell EUR 125.0 million 15-year 1.06% Euro Senior Notes (1.06% Euro Senior Notes). The terms of the Euro Senior Notes are consistent with the previous Euro Senior Notes as described above. The Company also entered into a forward contract to receive $152.1 million at the time of issuing the 1.06% Euro Senior Notes in March 2021. The proceeds were used to repay outstanding amounts on the Company’s credit facility and fund operational expenses. The 1.06% Euro Senior Notes were designated as a hedge of a portion of the Company’s net investment in a euro-denominated foreign subsidiary to reduce foreign currency risk associated with this net investment.
The Company has designated its EUR 125 million 1.47% Euro Senior Notes, 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 a euro-denominated foreign subsidiary to reduce foreign currency risk associated with this net investment. Changes in the carrying value of this debt resulting from fluctuations in the euro to U.S. dollar exchange rate are recorded as foreign currency translation adjustments within other comprehensive income (loss). The Company recorded in other comprehensive income (loss) related to this net investment hedge an unrealized loss of $12.9 million, an unrealized gain of $24.6 million, and an unrealized gain of $34.3 million for the years ended December 31, 2023, 2022, and 2021, respectively. The Company has an unrealized gain of $17.3 million associated with these net investment hedges recorded in accumulated other comprehensive income (loss) as of December 31, 2023.
Credit Agreement
On June 25, 2021, the Company entered into a $1.25 billion Credit Agreement (the Credit Agreement), which amended its $1.1 billion Amended and Restated Credit Agreement (the Prior Credit Agreement). As of December 31, 2023, the Company had $606.4 million of additional borrowings available under its Credit Agreement.
In May 2023, the Company amended its Credit Agreement to replace all references of LIBOR to SOFR and other non-U.S. dollar references as the interest rate benchmark.
The Credit Agreement is provided by a group of financial institutions (similar to the Company's Prior Credit Agreement) and has a maturity date of June 25, 2026. It is a revolving credit facility and is not
subject to any scheduled principal payments prior to maturity. The obligations under the Credit Agreement are unsecured.
Borrowings under the Credit Agreement bear interest at current market rates plus a margin based on the Company’s consolidated leverage ratio. The Company must also pay facility fees that are tied to its leverage ratio. The Credit Agreement contains covenants that are similar to those contained in the Prior Credit Agreement, with which the Company was in compliance as of December 31, 2023. 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 as applicable. The Company capitalized $2.0 million in financing fees during 2021 associated with the Credit Agreement, which will be amortized to interest expense through 2026.
Other Local Arrangements
In April 2018, two of the Company’s non-U.S. pension plans issued loans totaling $39.6 million (Swiss franc 38 million) to a wholly owned subsidiary of the Company. The loans have the same terms and conditions, which include an interest rate of SARON plus 87.5 basis points. The loans were renewed for one year in April 2023.
v3.24.0.1
Shareholders' Equity
 12 Months Ended
Dec. 31, 2023
Stockholders' Equity Note [Abstract]  
Stockholders' Equity Note Disclosure SHAREHOLDERS’ EQUITY
Common Stock
The number of authorized shares of the Company’s common stock is 125,000,000 shares with a par value of $0.01 per share. Holders of the Company’s common stock are entitled to one vote per share. At December 31, 2023, 3,408,627 shares of the Company’s common stock were reserved for issuance pursuant to the Company’s stock option plans.
Preferred Stock
The Board of Directors, without further shareholder authorization, is authorized to issue up to 10,000,000 shares of preferred stock, par value $0.01 per share in one or more series and to determine and fix the rights, preferences, and privileges of each series, including dividend rights and preferences over dividends on the common stock and one or more series of the preferred stock, conversion rights, voting rights (in addition to those provided by law), redemption rights, and the terms of any sinking fund therefore, and rights upon liquidation, dissolution, or winding up, including preferences over the common stock and one or more series of the preferred stock. The issuance of shares of preferred stock, or the issuance of rights to purchase such shares, may have the effect of delaying, deferring, or preventing a change in control of the Company or an unsolicited acquisition proposal.
Share Repurchase Program
In November 2022, the Company’s Board of Directors authorized an additional $2.5 billion to the share repurchase program, which had $2.6 billion of remaining availability as of December 31, 2023. The share repurchases are expected to be funded from cash generated from operating activities, borrowings, and cash balances. Repurchases will be made through open market transactions, and the amount and timing of purchases will depend on business and market conditions, the stock price, trading restrictions, the level of acquisition activity, and other factors.
The Company has purchased 31.7 million of common shares since the inception of the program in 2004 through December 31, 2023, at a total cost of $8.9 billion. The Company spent $900.0 million, $1.1 billion, and $1.0 billion during 2023, 2022, and 2021, respectively, on the repurchase of 691,913 shares, 838,010 shares, and 739,486 shares at an average price per share of $1,300.72, $1,312.61, and $1,352.27, respectively. The Company reissued 79,076 shares, 133,916 shares, and 110,748 shares held in treasury for the exercise of stock options and restricted stock units during 2023, 2022, and 2021, respectively. In addition, we incurred $8.1 million of excise tax during the year ended December 31, 2023 related to the Inflation Reduction Act which is reflected as a reduction in shareholders' equity in our consolidated financial statements.
Accumulated Other Comprehensive Income (Loss)
The following table presents changes in accumulated other comprehensive income by component for the period ended December 31, 2023, 2022, and 2021:
Currency Translation Adjustment, Net of TaxNet Unrealized
Gain (Loss) on
Cash Flow Hedging Arrangements,
Net of Tax		Pension and Post-Retirement Benefit Related Items,
Net of Tax		Total
Balance at December 31, 2020$(31,101)$(1,479)$(302,345)$(334,925)
Other comprehensive income (loss), net of tax:
Net unrealized actuarial gains (loss), prior service cost, and plan amendments— — 38,124 38,124 
Net unrealized gains (loss) on cash flow hedging arrangements
— 4,394 — 4,394 
Foreign currency translation adjustment
11,535 — 9,235 20,770 
Amounts recognized from accumulated other comprehensive income (loss), net of tax
— (2,913)19,326 16,413 
Net change in other comprehensive income (loss), net of tax
11,535 1,481 66,685 79,701 
Balance at December 31, 2021$(19,566)$2 $(235,660)$(255,224)
Other comprehensive income (loss), net of tax:
Net unrealized actuarial gains (loss), prior service cost, and plan amendments— — 70,663 70,663 
Net unrealized gains (loss) on cash flow hedging arrangements— 10,029 — 10,029 
Foreign currency translation adjustment(63,298)— 3,094 (60,204)
Amounts recognized from accumulated other comprehensive income (loss), net of tax— (5,775)13,278 7,503 
Net change in other comprehensive income (loss), net of tax(63,298)4,254 87,035 27,991 
Balance at December 31, 2022$(82,864)$4,256 $(148,625)$(227,233)
Other comprehensive income (loss), net of tax:
Net unrealized actuarial gains (loss), prior service cost, and plan amendments— — (48,800)(48,800)
Net unrealized gains (loss) on cash flow hedging arrangements
— (12,372)— (12,372)
Foreign currency translation adjustment
(34,366)— (11,762)(46,128)
Amounts recognized from accumulated other comprehensive income (loss), net of tax
— 8,236 6,482 14,718 
Net change in other comprehensive income (loss), net of tax
(34,366)(4,136)(54,080)(92,582)
Balance at December 31, 2023$(117,230)$120 $(202,705)$(319,815)
The following table presents amounts recognized from accumulated other comprehensive income (loss) during the years ended December 31, 2023, 2022, and 2021:
202320222021Location of Amounts Recognized in Earnings
Effective portion of losses (gains) on cash flow hedging arrangements:
Interest rate swap agreements
$— $352 $2,178 Interest expense
Cross currency swap
10,168 (7,454)(5,604)(a)
Total before taxes10,168 (7,102)(3,426)
Provision for taxes1,932 (1,327)(513)Provision for taxes
Total, net of taxes$8,236 $(5,775)$(2,913)
Recognition of defined benefit pension and post-retirement items:
Recognition of actuarial losses, plan amendments, prior service cost, and settlement charge before taxes
$8,240 $16,896 $24,529 (b)
Provision for taxes1,758 3,618 5,203 Provision for taxes
Total, net of taxes$6,482 $13,278 $19,326 
(a)The cross currency swap reflects an unrealized loss of $21.1 million and unrealized gain of $2.7 million and $4.2 million recorded in other charges (income) during the years ended December 31, 2023, 2022, and 2021, respectively, that was offset by the underlying unrealized gain or loss on the hedged debt. The cross currency swap also reflects a realized gain of $10.9 million, $4.8 million, and $1.4 million recorded in interest expense during the years ended December 31, 2023, 2022, and 2021, respectively.
(b)These accumulated other comprehensive income (loss) components are included in the computation of net periodic pension and post-retirement cost. See Note 13 for additional details.
v3.24.0.1
Equity Incentive Plan
 12 Months Ended
Dec. 31, 2023
Share-Based Payment Arrangement [Abstract]  
Equity Incentive Disclosure EQUITY INCENTIVE PLAN
The Company’s equity incentive plan provides employees and directors of the Company additional incentives to join and/or remain in the service of the Company as well as to maintain and enhance the long-term performance and profitability of the Company. The Company’s 2013 Equity Incentive Plan was approved by shareholders on May 2, 2013 and provides that 2 million shares of common stock, plus any shares that remained available for grant under the Company’s prior equity incentive plan as well as options outstanding that terminate without being exercised, may be the subject of awards. The plan provides for the grant of options, restricted stock units, and other equity-based awards. The exercise price of options granted shall not be less than the fair market value of the common stock on the date of the award. Options primarily vest equally over a five-year period from the date of grant and have a maximum term of up to 10 years. Restricted units primarily vest equally over a five-year period from the date of grant. Performance share units generally vest after a three-year period from the date of the grant based upon satisfaction of the performance condition. The compensation committee of the Board of Directors has generally granted restricted share units to participating managers and non-qualified stock options and performance share units to executive officers.
On May 6, 2021, the Company's shareholders approved the adoption of the Company's 2013 Equity Incentive Plan (Amended and Restated), with the effect that approximately 0.9 million additional shares of common stock were added to the 2.1 million shares that remained available under the plan prior to its amendment. In addition, shares subject to options granted under the Company's prior equity incentive plan that terminate or are forfeited without being exercised are also available for awards under the amended plan. The amended plan expires in 2031.
All share-based compensation arrangements granted to employees, including stock option grants, are recognized in the consolidated statement of operations based on the grant-date fair value of the award over the period during which an employee is required to provide service in exchange for the award. Share-based compensation expense is recorded within selling, general, and administrative in the consolidated statement of operations with a corresponding offset to additional paid-in capital in the consolidated balance sheet.
The fair values of stock options granted were calculated using the Black-Scholes pricing model. The aggregate intrinsic value of an option is the amount by which the fair value of the underlying stock exceeds its exercise price. The following table summarizes all stock option activity from December 31, 2022 through December 31, 2023:
Number of
Options		Weighted Average
Exercise Price		Aggregate Intrinsic
Value (in millions)
Outstanding at December 31, 2022308,149 $635.00 $250.5 
Granted27,027 1,027.33 
Exercised(61,268)313.93 
Forfeited(13,950)787.01 
Outstanding at December 31, 2023259,958 $743.30 $127.2 
Options exercisable at December 31, 2023203,600 $618.26 $123.5 
The following table details the weighted average remaining contractual life of options outstanding at December 31, 2023 by range of exercise prices:
Number of Options
Outstanding		Weighted Average
Exercise Price		Remaining Contractual
Life of Options
Outstanding		Options
Exercisable
113,857 $431.30 3.11116,997 
101,714 $839.04 6.4670,316 
44,387 $1,324.22 8.0916,287 
259,958  5.27203,600 
As of the date granted, the weighted average grant-date fair value of the options granted during the years ended December 31, 2023, 2022, and 2021 was $400.30, $447.52, and $377.89, respectively.
Such weighted average grant-date fair value was determined using the following assumptions:
202320222021
Risk-free interest rate4.64 %4.35 %0.95 %
Expected life in years6.76.46.3
Expected volatility27 %26 %25 %
Expected dividend yield— — — 
The total intrinsic value of options exercised during the years ended December 31, 2023, 2022, and 2021 was approximately $68.7 million, $121.3 million, and $116.0 million, respectively.
In November 2023, the Company also granted 7,137 performance options with a grant-date fair value of $2.9 million upon achievement of the performance target. The performance target is based on the Company’s cumulative average local currency sales growth rate over the four-year period ending
December 31, 2027. If the performance target is met, the performance options cliff vest at the conclusion of the four-year period and will settle based upon actual performance ranging from zero to 150% of the target. Compensation expense is recognized over the four-year period based on the estimated actual performance relative to the target.
The compensation expense for options recognized during the year ended December 31, 2023 was $6.0 million and $7.8 million for the years ended December 31, 2022 and 2021.
The following table summarizes all restricted stock unit and performance share unit activity from December 31, 2022 through December 31, 2023:
Number of Restricted
Stock Units		Aggregate Intrinsic Value (in millions)Number of Performance Share UnitsAggregate Intrinsic Value (in millions)
Outstanding at December 31, 202224,892 $36.012,282 $17.8
Granted12,517  2,998 
Adjustment for performance results achieved(1)
— 4,505 
Vested(8,798) (9,010)
Forfeited(1,872) (364)
Outstanding at December 31, 202326,739 $32.410,411 $12.6
(1) 2018 performance share units vested in the first quarter 2022.
The weighted average grant-date fair value of the restricted stock units granted during the years ended 2023, 2022, and 2021 was $1,029.48, $1,230.18, and $1,445.37 per unit, respectively, which primarily vest ratably over a five-year period. The total fair value of the restricted stock units on the date of grant was $12.8 million for 2023, $10.8 million for 2022, and $11.4 million for 2021 and will be recorded as compensation expense on a straight-line basis over the vesting period. The total fair value of restricted stock units vested during the years ended December 31, 2023, 2022, and 2021 was approximately $8.6 million, $8.2 million, and $11.4 million, respectively. Approximately $8.8 million, $7.9 million, and $7.6 million of compensation expense was recognized during the years ended December 31, 2023, 2022, and 2021, respectively.
The Company granted performance share units with a market condition during 2023, 2022, and 2021. Grantees of performance share units will be eligible to receive shares of the Company’s common stock depending upon the Company’s total shareholder return relative to the performance of companies in the S&P 500 Health Care and S&P 500 Industrials over a three-year period. The awards actually earned will range from zero to 200% of the targeted number of performance share units for the three-year performance period and will be paid, to the extent earned, in the fiscal quarter following the end of the applicable three-year performance period. During 2023, the market conditions for the 2020 performance share units were partially met and vested in the first quarter 2024 with a payout of 5%. Performance share unit awards were valued using a Monte Carlo simulation based on the following assumptions:
202320222021
Risk-free interest rate4.71 %4.58 %0.61 %
Expected life in years333
Expected volatility27 %26 %25 %
Expected dividend yield— — — 
As of the date granted, the fair value of the performance share units granted was $1,103.23 for 2023, $1,357.26 for 2022, and $1,447.75 for 2021. The total fair value of the performance share units on the date
of the grant was $3.3 million, $3.2 million, and $4.0 million for 2023, 2022, and 2021, respectively, and will be recorded as compensation expense on a straight-line basis over the three-year performance period.
The compensation expense for performance share units recognized during the years ended December 31, 2023, 2022, and 2021 was $3.1 million, $4.0 million, and $4.2 million, respectively.
At December 31, 2023, a total of 2,873,508 shares of common stock were available for grant in the form of stock options, restricted stock units, or performance share units.
As of December 31, 2023, the unrecorded deferred share-based compensation balance related to stock options, restricted stock units, and performance share units was $56.4 million and will be recognized using a straight-line method over an estimated weighted average amortization period of 2.4 years.
v3.24.0.1
Benefit Plans
 12 Months Ended
Dec. 31, 2023
Defined Benefit Plan [Abstract]  
Benefits Plans Disclosure BENEFIT PLANS
The Company maintains a number of retirement and other post-retirement employee benefit plans.
Certain subsidiaries sponsor defined contribution plans. Benefits are determined and funded annually based upon the terms of the plans. Amounts recognized as cost under these plans amounted to $20.1 million, $22.9 million, and $24.8 million for the years ended December 31, 2023, 2022, and 2021, respectively.
Certain subsidiaries sponsor defined benefit plans. Benefits are provided to employees primarily based upon years of service and employees’ compensation for certain periods during the last years of employment. Prior to 2002, the Company’s U.S. operations also provided post-retirement medical benefits to their employees. Contributions for medical benefits are related to employee years of service.
The following tables set forth the change in benefit obligation, the change in plan assets, the funded status, and amounts recognized in the consolidated financial statements for the Company’s defined benefit plans and post-retirement plan at December 31, 2023 and 2022:
 U.S. Pension BenefitsNon-U.S. Pension BenefitsOther BenefitsTotal
 20232022202320222023202220232022
Change in benefit obligation:      
Benefit obligation at beginning of year
$110,293 $141,906 $785,295 $1,027,333 $670 $875 $896,258 $1,170,114 
Service cost, gross1,155 1,665 33,159 36,640 — — 34,314 38,305 
Interest cost5,023 2,696 19,991 5,927 28 12 25,042 8,635 
Actuarial losses (gains)552 (27,541)65,734 (219,304)372 206 66,658 (246,639)
Plan amendments and other— — — 13 — — — 13 
Benefits paid(8,477)(8,433)(53,164)(34,949)(456)(423)(62,097)(43,805)
Impact of foreign currency— — 66,306 (30,365)— — 66,306 (30,365)
Benefit obligation at end of year
$108,546 $110,293 $917,321 $785,295 $614 $670 $1,026,481 $896,258 
Change in plan assets:      
Fair value of plan assets at beginning of year
$87,341 $113,523 $894,865 $1,008,261 $— $— $982,206 $1,121,784 
Actual return on plan assets7,083 (17,863)38,133 (96,866)— — 45,216 (114,729)
Employer contributions114 114 26,414 24,441 456 423 26,984 24,978 
Plan participants’ contributions
— — 19,214 17,600 — — 19,214 17,600 
Benefits paid(8,477)(8,433)(53,164)(34,949)(456)(423)(62,097)(43,805)
Impact of foreign currency— — 84,715 (23,622)— — 84,715 (23,622)
Fair value of plan assets at end of year
$86,061 $87,341 $1,010,177 $894,865 $— $— $1,096,238 $982,206 
Funded status$(22,485)$(22,952)$92,856 $109,570 $(614)$(670)$69,757 $85,948 
The change in the benefit obligation for 2023 is primarily related to a decrease of the discount rates and favorable currency translation.
The accumulated benefit obligations at December 31, 2023 and 2022 were $108.5 million and $110.3 million, respectively, for the U.S. defined benefit pension plan and $775.1 million and $665.1 million, respectively, for all non-U.S. plans. Certain of the plans included within non-U.S. pension benefits have accumulated benefit obligations which exceed the fair value of plan assets. The projected benefit obligation, the accumulated benefit obligation, and fair value of assets of these plans as of December 31, 2023 were $137.5 million, $126.5 million, and $28.2 million, respectively. The projected benefit obligation, the accumulated benefit obligation, and fair value of assets of these plans as of December 31, 2022 were $121.6 million, $111.7 million, and $26.9 million, respectively.
Amounts recognized in the consolidated balance sheets consist of:
 U.S. Pension BenefitsNon-U.S. Pension BenefitsOther BenefitsTotal
 20232022202320222023202220232022
Other non-current assets$— $— $202,119 $202,368 $— $— $202,119 $202,368 
Accrued and other liabilities(124)(131)(5,368)(4,986)(106)(115)(5,598)(5,232)
Pension and other post-retirement liabilities
(22,361)(22,821)(103,895)(90,342)(508)(555)(126,764)(113,718)
Accumulated other comprehensive loss (income)
47,631 50,822 222,346 151,924 19 (430)269,996 202,316 
Total$25,146 $27,870 $315,202 $258,964 $(595)$(1,100)$339,753 $285,734 
The following amounts have been recognized in accumulated other comprehensive income (loss), before taxes, at December 31, 2023 and have not yet been recognized as a component of net periodic pension cost:
U.S. Pension
Benefits		Non-U.S. Pension
Benefits		Other BenefitsTotalTotal, After Tax
2023202220232022202320222023202220232022
Plan amendments and prior service cost$— $— $(21,755)$(24,701)$(276)$(351)$(22,031)$(25,052)$(18,212)$(20,237)
Actuarial losses (gains)47,631 50,822 244,101 176,625 295 (79)292,027 227,368 231,446 $180,278 
Total$47,631 $50,822 $222,346 $151,924 $19 $(430)$269,996 $202,316 $213,234 $160,041 
The following changes in plan assets and benefit obligations were recognized in other comprehensive income (loss), before taxes, for the year ended December 31, 2023:
U.S. Pension
Benefits		Non-U.S. Pension
Benefits		Other BenefitsTotalTotal, After Tax
Net actuarial losses (gains)$(999)$62,592 $372 $61,965 $48,800 
Plan amendment— — — — — 
Amortization of:
Actuarial (losses) gains(2,192)(10,448)2 (12,638)(10,010)
Plan amendments and prior service cost— 4,323 75 4,398 3,528 
Impact of foreign currency— 13,955 — 13,955 11,762 
Total$(3,191)$70,422 $449 $67,680 $54,080 
The assumed discount rates and rates of increase in future compensation levels used in calculating the projected benefit obligations vary according to the economic conditions of the country in which the retirement plans are situated. The weighted average rates used for the purposes of the Company’s plans are as follows:
 U.S.Non-U.S.
 2023202220232022
Discount rate4.68 %4.87 %2.07 %2.57 %
Compensation increase raten/an/a0.84 %0.87 %
Expected long-term rate of return on plan assets6.75 %6.75 %3.84 %3.84 %
Interest crediting raten/an/a1.50 %1.50 %
The assumed discount rates, rates of increase in future compensation levels, and the long-term rate of return used in calculating the net periodic pension cost vary according to the economic conditions of the country in which the retirement plans are situated. The weighted average rates used for the purposes of the Company’s plans are as follows:
 U.S.Non-U.S.
 202320222021202320222021
Discount rate4.87 %2.57 %2.22 %2.57 %0.40 %0.63 %
Compensation increase raten/an/an/a0.87 %0.85 %0.85 %
Expected long-term rate of return on plan assets6.75 %5.75 %5.75 %3.84 %3.78 %3.78 %
Net periodic pension cost and net periodic post-retirement benefit for the defined benefit plans and U.S. post-retirement plan include the following components for the years ended December 31:
U.S.Non-U.S.Other BenefitsTotal
202320222021202320222021202320222021202320222021
Service cost, net$1,155 $1,665 $1,498 $13,945 $19,040 $19,558 $— $— $— $15,100 $20,705 $21,056 
Interest cost on projected benefit obligations
5,023 2,696 2,194 19,991 5,927 3,347 28 12 8 25,042 8,635 5,549 
Expected return on plan assets(5,532)(6,189)(5,974)(34,675)(36,308)(35,511)— — — (40,207)(42,497)(41,485)
Recognition of actuarial losses/(gains) and prior service cost2,192 2,337 2,916 6,061 14,665 21,725 (76)(106)(112)8,177 16,896 24,529 
Net periodic pension cost/(benefit)$2,838 $509 $634 $5,322 $3,324 $9,119 $(48)$(94)$(104)$8,112 $3,739 $9,649 
The projected post-retirement benefit obligation was principally determined using discount rates of 4.49% in 2023 and 4.67% in 2022. Net periodic post-retirement benefit cost was principally determined using discount rates of 4.67% in 2023, 1.94% in 2022, and 1.47% in 2021. The health care cost trend rate was 5.7% in 2023 and 2022, and 5.9% in 2021, decreasing to 4.50% in 2029.
The Company’s overall asset investment strategy is to achieve long-term growth while minimizing volatility by widely diversifying among asset types and strategies. Target asset allocations and investment return criteria are established by the pension committee or designated officers of each plan. Target asset allocation ranges for the U.S. pension plan include 40-60% in equity securities, 23-33% in fixed income securities, and 15-25% in other types of investments. International plan assets relate primarily to the Company’s Swiss plan with target allocations of 24-45% in equities, 35-55% in fixed income securities, and 15-25% in other types of investments. Actual results are monitored against targets and the trustees are required to report to the members of each plan, including an analysis of investment performance on an annual basis at a minimum. Day-to-day asset management is typically performed by third-party asset managers, reporting to the pension committees or designated officers.
The long-term rate of return on plan asset assumptions used to determine pension expense under U.S. GAAP is generally based on estimated future returns for the target investment mix determined by the trustees as well as historical investment performance.
The following table presents the fair value measurement of the Company’s plan assets by hierarchy level:
 December 31, 2023December 31, 2022
Quoted
Prices in
Active
Markets for
Identical
Assets
(Level 1)		Observable
Inputs for
Identical
Assets
(Level 2)		Unobservable
Inputs
(Level 3)		TotalQuoted
Prices in
Active
Markets for
Identical
Assets
(Level 1)		Observable
Inputs for
Identical
Assets
(Level 2)		Unobservable
Inputs
(Level 3)		Total
Asset Category:     
Cash and Cash Equivalents$48,710 $— $— $48,710 $99,535 $— $— $99,535 
Equity Securities:        
Mettler-Toledo Stock2,606 — — 2,606 3,107 — — 3,107 
Equity Mutual Funds:        
U.S.(1)
5,831 24,856 — 30,687 5,753 24,133 — 29,886 
International(2)
294,703 10,314 — 305,017 89,247 9,496 — 98,743 
Emerging Markets(3)
19,941 — — 19,941 127,506 — — 127,506 
Fixed Income Securities:        
Corporate/Government Bonds(4)
91,495 — — 91,495 79,221 — — 79,221 
Fixed Income Mutual Funds:       
Insurance Contracts(5)
— 25,458 1,972 27,430 — 25,126 1,775 26,901 
Core Bond(6)
144,948 57,286 — 202,234 73,315 62,956 — 136,271 
Real Asset Mutual Funds:        
Real Estate(7)
— 186,804 — 186,804 — 167,693 — 167,693 
Commodities(8)
50,109 — — 50,109 49,603 — — 49,603 
Other Types of Investments:        
Debt Securities (9)
45,156 — — 45,156 41,099 — — 41,099 
Global Allocation Funds(10)
4,326 — — 4,326 4,370 — — 4,370 
Multi-Strategy Fund of Hedge Funds (11)
— 22,336 — 22,336 — 17,702 — 17,702 
Insurance Linked Securities(12)
2,870— — 2,870 13,243 — — 13,243 
Total assets in fair value hierarchy
$710,695 $327,054 $1,972 $1,039,721 $585,999 $307,106 $1,775 $894,880 
Investments measured at net asset value:
International(13)
— 2,409 
Emerging Markets (13)
6,4445,980
Multi-Strategy Fund of Hedge Funds (13)
50,07378,937
Total pension assets at fair value
$1,096,238 $982,206 
_____________________________________
(1)Represents primarily large capitalization equity mutual funds tracking the S&P 500 Index.
(2)Represents all capitalization core and value equity mutual funds located primarily in Switzerland, the United Kingdom, and Canada.
(3)Represents core and growth mutual funds and funds of mutual funds invested in emerging markets primarily in Eastern Europe, Latin America, and Asia.
(4)Represents investments in high-grade corporate and government bonds located in Switzerland and the European Union.
(5)Represents fixed and variable rate annuity contracts provided by insurance companies.
(6)Represents fixed income mutual funds invested in the U.S., the United Kingdom, Switzerland, and European government bonds, high-grade corporate bonds, mortgage-backed securities, and collateralized mortgage obligations.
(7)Represents mutual funds invested in real estate located primarily in Switzerland.
(8)Represents commodity funds invested across a broad range of sectors.
(9)Represents a loan to a wholly owned subsidiary of the Company. See Note 10 for additional disclosure.
(10)Represents mutual funds invested globally in both equities and fixed income securities.
(11)Represents currency hedged versions of the non-currency hedged equity funds held in the United Kingdom.
(12)Represents a broadly diversified portfolio of assets that carry exposure to insurance risks, particularly insurance linked securities.
(13)Investments that are measured using the net asset value (NAV) per share practical expedient have not been categorized in the fair value hierarchy. The amounts presented above are intended to permit reconciliation of the fair value hierarchy to the fair value of total plan assets in order to determine the amounts included in the consolidated balance sheet.
The fair values of the Company’s stock and corporate and government bonds are valued at the year-end closing price as reported on the securities exchange on which they are traded. Mutual funds are valued at the exchange-listed year-end closing price or at the net asset value of shares held by the fund at the end of the year. Insurance contracts are valued by discounting the related cash flows using a current year-end market rate or at cash surrender value, which is presumed to equal fair value. Funds of hedge funds are valued at the net asset value of shares held by the fund at the end of the year.
The following table presents a roll-forward of activity for the years ended December 31, 2023 and 2022 for Level 3 asset categories:
Insurance
Contracts
Balance at December 31, 2021$1,787 
Actual return on plan assets related to assets held at end of year(1)
Purchases80 
Impact of foreign currency(91)
Balance at December 31, 2022$1,775 
Actual return on plan assets related to assets held at end of year31 
Purchases91 
Impact of foreign currency75 
Balance at December 31, 2023$1,972 
There were no transfers between any asset levels during the years ended December 31, 2023 and 2022.
The following benefit payments, which reflect expected future service as appropriate, are expected to be paid:
U.S. Pension
Benefits		Non-U.S. Pension
Benefits		Other Benefits, Net of
Subsidy		Total
2024$8,674 $55,323 $106 $64,103 
20258,738 57,135 94 65,967 
20268,724 56,092 83 64,899 
20278,688 57,814 73 66,575 
20288,637 58,505 64 67,206 
2029-203340,720 284,418 213 325,351 
In 2024, the Company expects to make employer pension contributions of approximately $2.1 million to its U.S. pension plan, $27.3 million to its non-U.S. pension plan and employer contributions of approximately $0.2 million to its U.S. post-retirement medical plan.
v3.24.0.1
Taxes
 12 Months Ended
Dec. 31, 2023
Income Tax Disclosure [Abstract]  
Income Tax Disclosure TAXES
The sources of the Company’s earnings before taxes were as follows for the years ended December 31:
202320222021
United States$142,078 $144,107 $109,918 
Non-United States831,650 926,485 839,443 
Earnings before taxes$973,728 $1,070,592 $949,361 

The provision for taxes consists of:
CurrentDeferredTotal
Year ended December 31, 2023:
United States federal$20,036 $(10,949)$9,087 
United States state and local8,946 (838)8,108 
Non-United States169,341 (1,586)167,755 
Total$198,323 $(13,373)$184,950 
Year ended December 31, 2022:   
United States federal$363 $9,710 $10,073 
United States state and local4,893 1,282 6,175 
Non-United States166,317 15,525 181,842 
Total$171,573 $26,517 $198,090 
Year ended December 31, 2021:   
United States federal$7,750 $(7,415)$335 
United States state and local3,670 (1,099)2,571 
Non-United States168,393 9,077 177,470 
Total$179,813 $563 $180,376 
The provision for tax expense differed from the amounts computed by applying the United States federal income tax rate of 21% for the years ended December 31, 2023, 2022, and 2021 to earnings before taxes as a result of the following:
202320222021
Expected tax$204,483 $224,825 $199,365 
United States state and local income taxes, net of federal income tax benefit6,858 5,132 1,235 
Non-United States income taxes at other than U.S. federal rate(14,611)(3,055)3,439 
Excess tax benefits from stock option exercises(13,674)(22,965)(22,843)
Other, net1,894 (5,847)(820)
Total provision for taxes$184,950 $198,090 $180,376 
The Company’s reported effective tax rate was 19% in 2023, 18.5% in 2022, and 19% in 2021.
The tax effects of temporary differences that give rise to significant portions of the deferred tax assets and deferred tax liabilities are presented below at December 31:
20232022
Deferred tax assets:  
Inventory$24,969 $26,401 
Lease liability, accrued and other liabilities92,601 91,892 
Accrued post-retirement benefit and pension costs34,015 33,010 
Net operating loss and other tax carryforwards43,036 37,797 
Swiss tax reform intangible assets55,767 49,642 
Other6,726 4,927 
Total deferred tax assets257,114 243,669 
Less valuation allowance(73,460)(62,615)
Total deferred tax assets less valuation allowance183,654 181,054 
Deferred tax liabilities:  
Inventory12,095 8,053 
Lease right-of-use assets and other assets26,510 28,297 
Property, plant, and equipment83,326 76,867 
Acquired intangibles amortization62,479 61,278 
Prepaid post-retirement benefit and pension costs49,918 52,197 
International earnings19,641 27,357 
Unrealized currency gains7,165 11,285 
Total deferred tax liabilities261,134 265,334 
Net deferred tax (liability) asset$(77,480)$(84,280)
The Company continues to record valuation allowances related to certain of its deferred income tax assets due to the uncertainty of the ultimate realization of future benefits from such assets. The potential decrease or increase of the valuation allowance in the near term is dependent on the future ability of the Company to realize the deferred tax assets that are affected by the future profitability of operations in the respective/relevant jurisdictions.
A reconciliation of the beginning and ending amounts of unrecognized tax benefits is as follows:
20232022
Unrecognized tax benefits at beginning of year$50,822 $46,432 
Increases related to current tax positions5,867 12,942 
Decreases related to prior year tax positions(2,641)(7,245)
Impact of foreign currency4,177 (1,307)
Unrecognized tax benefits at end of year$58,225 $50,822 
Included in the balance of unrecognized tax benefits at December 31, 2023 and 2022 were $58.2 million and $50.8 million, respectively, of tax benefits that if recognized would reduce the Company’s effective tax rate. Increases and decreases related to current and prior year tax positions during 2023 and 2022 primarily relate to non-United States income taxes. The Company recognizes accrued amounts of interest and penalties related to its uncertain tax positions as part of its income tax expense within its consolidated statement of operations. The amount of accrued interest and penalties included within other non-current liabilities within the Company’s consolidated balance sheet as of December 31, 2023 and 2022 was $10.9 million and $9.3 million, respectively.
The Company believes that it is reasonably possible that the unrecognized tax benefit balance could decrease over the next 12 months, primarily related to the completion of certain tax examinations as well as the lapse in the statute of limitations. The Company does not expect such a change would have a material impact on its financial position, results of operations, or cash flows.
The Company plans to repatriate earnings from China, Switzerland, Germany, the United Kingdom, and certain other countries in future years and believes that there will be no additional tax costs associated with the repatriation of such foreign earnings other than non-U.S. withholding taxes, certain state taxes, and U.S. taxes on currency gains, if any, for which a deferred tax liability has been recognized. All other undistributed earnings and any additional outside basis difference inherent in these entities and the contributed capital of our foreign subsidiaries are considered to be permanently reinvested on which no U.S. deferred income taxes or foreign withholding taxes have been provided. It is not practicable to estimate the amount of deferred tax liability related to these undistributed earnings and additional outside basis differences in these entities due to the complexity of the calculation and the uncertainty regarding assumptions necessary to compute the tax.
As of December 31, 2023, the major jurisdictions for which the Company is subject to examinations are: Germany for years after 2018, the United States after 2019, France after 2020, Switzerland after 2019, the United Kingdom after 2019, and China after 2020. Additionally, the Company is currently under examination in various taxing jurisdictions in which it conducts business operations. While the Company has not yet received any material assessments from these taxing authorities, the Company believes that adequate amounts of taxes and related interest and penalties have been provided for any adverse adjustments as a result of these examinations and that the ultimate outcome of these examinations will not result in a material impact on the Company’s consolidated results of operations or financial position.
v3.24.0.1
Other Charges (Income), Net
 12 Months Ended
Dec. 31, 2023
Other Income and Expenses [Abstract]  
Other Charges (Income), Net Disclosure OTHER CHARGES (INCOME), NETOther charges (income), net consisted of net other income of $4.1 million, $9.3 million, and $3.1 million in 2023, 2022, and 2021, respectively. Other charges (income), net includes non-service pension costs (benefits), net (gains) losses from foreign currency transactions and hedging activities, interest income, and other items. Non-service pension benefits were $7.6 million, $16.9 million, and $11.4 million in 2023, 2022, and 2021, respectively. Other charges (income), net also includes $0.9 million of acquisition costs for the year ended December 31, 2022. For the year ended December 31, 2021, $3.4 million of acquisition costs, as well as a $6.8 million charge to increase the PendoTECH acquisition contingent consideration and related obligations to the sellers, were included in other charges (income), net.
v3.24.0.1
Leases
 12 Months Ended
Dec. 31, 2023
Leases [Abstract]  
Leases of Lessee Disclosure [Text Block] LEASES
The Company’s operating leases primarily comprise real estate and vehicles. Real estate leases are largely related to sales and marketing, service, and administrative offices, while vehicle leases are primarily related to the Company’s field sales and service organization. The consolidated balance sheet included the following balances as of December 31:
20232022Balance Sheet Location
Right-of-use assets, net$114,392 $114,321 Other non-current assets
Current lease liability$28,516 $29,271 Accrued and other liabilities
Non-current lease liability86,930 86,888 Other non-current liabilities
Total operating lease liability$115,446 $116,159 
As of December 31, 2023, the Company had not entered into any material real estate operating leases expected to commence in 2024.
For the years ended December 31, 2023, 2022 and 2021, the Company had the following recorded in selling, general, and administrative associated with leasing arrangements:
202320222021
Operating lease expense$37,849$37,145$36,137 
Variable lease expense7,0224,6494,503 
Short-term lease expense1,0049581,018 
Total lease expense$45,875$42,752$41,658 
Weighted average remaining lease term6.5 years7.9 years7.4 years
Weighted average discount rate4.0%2.9%2.1 %
Accruals and other on the consolidated statement of cash flows includes the amortization of the lease right-of-use asset of $34.4 million, $34.6 million, and $33.7 million, offset by a change in the lease liability of $33.4 million, $34.6 million, and $33.7 million, for the years ended December 31, 2023, 2022, and 2021, respectively. Lease payments within operating activities were $36.6 million, $35.2 million, and $35.5 million for the years ended December 31, 2023, 2022, and 2021, respectively. The Company also obtained non-cash lease right-of-use assets in exchange for lease liabilities of $34.5 million, $27.0 million, and $46.4 million for the years ended December 31, 2023, 2022, and 2021, respectively.
The following is a maturity analysis of the annual undiscounted cash flows for the annual periods ended December 31:
2024$33,065 
202524,444 
202618,113 
202711,835 
20288,853 
Thereafter35,908 
Total lease payments132,218 
Less imputed interest(16,772)
Total operating lease liability$115,446 
v3.24.0.1
Commitments and Contingencies
 12 Months Ended
Dec. 31, 2023
Leases, Operating [Abstract]  
Commitments and Contingencies Disclosure [Text Block] COMMITMENTS AND CONTINGENCIES
Legal
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 will have a material adverse effect on the Company’s financial condition, results of operations, or cash flows.
v3.24.0.1
Segment Reporting
 12 Months Ended
Dec. 31, 2023
Segment Reporting [Abstract]  
Segment Reporting Disclosure SEGMENT REPORTING
The Company has five reportable segments: U.S. Operations, Swiss Operations, Western European Operations, Chinese Operations, and Other. U.S. Operations represent certain of the Company’s marketing and producing organizations located in the United States. Western European Operations include the Company’s marketing and producing organizations in Western Europe, excluding operations located in Switzerland. Swiss Operations include marketing and producing organizations located in Switzerland as well as extensive R&D operations that are responsible for the development, production, and marketing of precision instruments, including weighing, analytical, and measurement technologies for use in a variety of laboratory and industrial applications. Chinese Operations represent the Company’s marketing and producing organizations located in China. The Company’s market organizations are geographically focused and are responsible for all aspects of the Company’s sales and service. Operations that exist outside these reportable segments are included in Other.
The accounting policies of the operating segments are the same as those described in the summary of significant accounting policies. The Company evaluates performance based on segment profit for segment reporting (gross profit less research and development and selling, general, and administrative expenses, before amortization, interest expense, restructuring charges, other charges (income), net, and taxes). Inter-segment sales and transfers are priced to reflect consideration of market conditions and the regulations of the countries in which the transferring entities are located.
The following tables show the operations of the Company’s reportable segments:
For the Year Ended December 31, 2023Net Sales to
External
Customers		Net Sales to
Other
Segments		Total Net
Sales		Segment
Profit		DepreciationTotal AssetsPurchase of
Property, Plant,
and Equipment		Goodwill
U.S. Operations$1,403,919 $137,192 $1,541,111 $365,052 $15,863 $3,848,003 $(36,269)$526,392 
Swiss Operations188,679 761,114 949,793 281,481 7,017 3,554,911 (8,030)27,532 
Western European Operations792,907 188,963 981,870 178,673 5,351 1,533,297 (5,052)101,653 
Chinese Operations718,818 278,027 996,845 367,094 9,609 989,955 (10,133)621 
Other(a)
683,986 20,600 704,586 106,238 4,297 408,200 (12,380)13,910 
Eliminations and Corporate(b)
(1,385,896)(1,385,896)(146,642)6,814 (6,978,811)(33,459)— 
Total$3,788,309 $— $3,788,309 $1,151,896 $48,951 $3,355,555 $(105,323)$670,108 
For the Year Ended December 31, 2022Net Sales to
External
Customers		Net Sales to
Other
Segments		Total Net
Sales		Segment
Profit		DepreciationTotal AssetsPurchase of
Property, Plant,
and Equipment		Goodwill
U.S. Operations$1,444,460 $156,884 $1,601,344 $357,802 $14,582 $3,574,842 $(55,464)$524,470 
Swiss Operations176,119 839,951 1,016,070 309,844 6,644 2,968,539 (7,690)25,058 
Western European Operations799,931 196,900 996,831 174,352 4,970 1,314,332 (5,110)96,077 
Chinese Operations841,526 308,164 1,149,690 424,162 9,699 1,234,303 (12,418)641 
Other(a)
657,673 3,959 661,632 90,322 4,176 388,639 (6,268)13,924 
Eliminations and Corporate(b)
— (1,505,858)(1,505,858)(164,023)6,713 (5,988,260)(34,291)— 
Total$3,919,709 $— $3,919,709 $1,192,459 $46,784 $3,492,395 $(121,241)$660,170 
For the Year Ended December 31, 2021Net Sales to
External
Customers		Net Sales to
Other
Segments		Total Net
Sales		Segment
Profit		DepreciationTotal AssetsPurchase of
Property, Plant,
and Equipment		Goodwill
U.S. Operations$1,287,983 $155,987 $1,443,970 $302,177 $12,123 $3,278,400 $(34,972)$508,942 
Swiss Operations171,633 826,001 997,634 301,142 6,557 2,700,965 (7,856)23,710 
Western European Operations829,761 211,547 1,041,308 172,265 5,264 1,566,819 (11,014)100,433 
Chinese Operations771,651 291,779 1,063,430 369,835 9,566 1,037,838 (15,700)710 
Other(a)
656,902 4,780 661,682 100,028 3,819 365,182 (5,652)14,827 
Eliminations and Corporate(b)
— (1,490,094)(1,490,094)(187,636)7,653 (5,622,406)(32,386)— 
Total$3,717,930 $— $3,717,930 $1,057,811 $44,982 $3,326,798 $(107,580)$648,622 
(a)Other includes reporting units in Southeast Asia, Latin America, Eastern Europe, and other countries.
(b)Eliminations and Corporate includes the elimination of intersegment transactions as well as 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 follows:
202320222021
Earnings before taxes$973,728 $1,070,592 $949,361 
Amortization72,213 66,239 63,075 
Interest expense77,366 55,392 43,242 
Restructuring charges32,735 9,556 5,239 
Other income, net(4,146)(9,320)(3,106)
Segment profit$1,151,896 $1,192,459 $1,057,811 
The Company sells precision instruments, including weighing instruments and certain analytical and measurement technologies, and related services to a variety of customers and industries. None of these end-customers account for more than 1% of net sales. Service revenues are primarily derived from repair and other services including regulatory compliance qualification, calibration, certification, and preventative maintenance, and spare parts. A breakdown of the Company’s sales by product category is disclosed in Note 3 to the consolidated financial statements.
In certain circumstances, our reporting units sell directly into other geographies. A breakdown of net sales to external customers by geographic customer destination and property, plant, and equipment by geographic destination for the years ended December 31 follows:
Net SalesProperty, Plant, and
Equipment, Net
 20232022202120232022
United States$1,346,468 $1,363,335 $1,217,114 $224,696 $228,997 
Other Americas221,742 219,158 202,718 13,152 4,155 
Total Americas1,568,210 1,582,493 1,419,832 237,848 233,152 
Germany221,482 219,813 229,341 36,123 39,159 
France139,304 147,430 152,225 22,684 8,027 
United Kingdom79,455 85,382 90,431 30,651 30,828 
Switzerland91,564 80,891 82,381 332,136 300,155 
Other Europe483,693 480,844 508,583 19,285 35,914 
Total Europe1,015,498 1,014,360 1,062,961 440,879 414,083 
China707,592 823,842 754,002 87,972 90,343 
Rest of World497,009 499,014 481,135 36,675 41,022 
Total Asia/Rest of World1,204,601 1,322,856 1,235,137 124,647 131,365 
Total$3,788,309 $3,919,709 $3,717,930 $803,374 $778,600 
v3.24.0.1
Summary of Significant Accounting Policies (Policies)
 12 Months Ended
Dec. 31, 2023
Summary of Significant Accounting Policies [Abstract]  
Cash and Cash Equivalents, Policy
Cash and Cash Equivalents
Cash and cash equivalents include highly liquid investments with original maturity dates of three months or less. The carrying value of these cash equivalents approximates fair value.
Trade Accounts Receivable, Policy
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 current and historical information and reasonable and supportable forecasts of future events and circumstances.
Inventories, Policy
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, expected future 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.
Property, Plant and Equipment, Policy
Long-Lived Assets
a)Property, Plant, and Equipment
Property, plant, and equipment are stated at cost less accumulated depreciation. Repair and maintenance costs are charged to expense as incurred. The Company capitalizes certain direct costs related to the acquisition and development of internal-use computer software. Externally purchased software is capitalized when we obtain legal ownership and is amortized over its useful life ranging from three to five years. Internally developed software costs for internal use are capitalized once the preliminary project stage is complete and it is probable that the project will be completed and the software will be used to perform the function intended. Costs associated with internal-use software are amortized on a straight-line basis over 10 years. Fully depreciated assets other than capitalized internally developed software are retained in property, plant, and equipment and accumulated depreciation accounts until disposal.
Depreciation and amortization are charged on a straight-line basis over the estimated useful lives of the assets as follows:
Buildings and improvements15 to 50 years
Machinery and equipment3 to 12 years
Computer software3 to 10 years
Leasehold improvementsShorter of useful life or lease term
In September 2021, the Company entered into an agreement with the U.S. Department of Defense to increase domestic production capacity of pipette tips and enhance manufacturing automation and logistics. As of December 31, 2023, we have received the maximum allowable funding of $35.8 million related to the agreement, which offset associated capital expenditures. In accordance with ASU 2021-10: Government Assistance, the Company applies guidance within IAS 20 - Accounting for Government Grants and Disclosure and accounts for the government agreement by reducing the cost of the asset within property, plant, and equipment in the consolidated balance sheets by the amount of the funds received.
Goodwill and Intangible Assets, Policy Goodwill and Other Intangible Assets
Goodwill, representing the excess of purchase price over the fair value of the net assets 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 evaluations of goodwill and indefinite-lived intangible assets are generally based on an assessment of qualitative factors to determine whether it is more likely than not that the fair value of the asset is less than its carrying amount.
If the Company is unable to conclude whether the goodwill or indefinite-lived intangible asset is not impaired after considering the totality of events and circumstances during its qualitative assessment, the Company performs a quantitative assessment by estimating the fair value of the respective reporting unit or indefinite-lived intangible asset and comparing the fair value to the carrying amount. If the carrying amount of the reporting unit or indefinite-lived intangible asset exceeds its fair value, an impairment charge equal to the difference is recognized.
Other intangible assets include indefinite-lived assets and assets subject to amortization. Where applicable, amortization is charged on a straight-line basis over the expected period to be benefited. The straight-line method of amortization reflects an appropriate allocation of the cost of the intangible assets to earnings in proportion to the amount of economic benefits obtained by the Company in each reporting period. The Company assesses the initial acquisition of intangible assets in accordance with the provisions
of ASC 805 - Business Combinations and the continued accounting for previously recognized intangible assets and goodwill in accordance with the provisions of ASC 350 - Intangible - Goodwill and Other and ASC 360 - Property, Plant, and Equipment.
Accounting for Impairment of Long Lived Assets, Policy
Accounting for Impairment of Long-Lived Assets
The Company assesses the need to record impairment losses on long-lived assets (asset group) with finite lives when events or changes in circumstances indicate that the carrying amount of assets may not be recoverable. An impairment loss would be recognized when future estimated undiscounted cash flows expected to result from use and eventually disposition of that asset (asset group) are less than the asset’s carrying value, with the loss measured as the difference between carrying value and estimated fair value.
Income Tax, Policy
Taxation
The Company files tax returns in each jurisdiction in which it operates. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities, their respective tax bases, and operating loss and tax credit carryforwards. Deferred tax assets and liabilities are measured using enacted tax rates in the respective jurisdictions in which the Company operates. In assessing the ability to realize deferred tax assets, management considers whether it is more likely than not that some portion or all of the deferred tax assets will not be realized. The valuation allowance is based on management’s estimates of future taxable income and application of relevant income tax law.
Deferred taxes are not provided on the unremitted earnings of subsidiaries outside of the United States when it is expected that these earnings are permanently reinvested. Such earnings may become taxable upon the sale or liquidation of these subsidiaries or upon the remittance of dividends. Deferred taxes are provided when the Company no longer considers subsidiary earnings to be permanently invested, such as in situations where the Company’s subsidiaries plan to make future dividend distributions.
In accordance with the Tax Cuts and Jobs Act, the Company treats taxes due on future Global Intangible Low-Taxed Income (GILTI) inclusions in U.S. taxable income as a current period expense when incurred.
The Company recognizes accrued amounts of interest and penalties related to its uncertain tax positions as part of income tax expense within its consolidated statement of operations.
Currency Transactions and Translations Policy
Currency Translation and Transactions
The reporting currency for the consolidated financial statements of the Company is the U.S. dollar. The functional currency for the Company’s operations is generally the applicable local currency. Accordingly, the assets and liabilities of companies whose functional currency is other than the U.S. dollar are included in the consolidated financial statements by translating the assets and liabilities into the reporting currency at the exchange rates applicable at the end of the reporting period. The statements of operations and cash flows of such non-U.S. dollar functional currency operations are translated at the monthly weighted average exchange rates during the year. Translation gains or losses are accumulated in other comprehensive income (loss) in the consolidated statements of shareholders’ equity. Transaction gains and losses are included as a component of net earnings or in certain circumstances as a component of other comprehensive income (loss) where the underlying item is considered a hedge of a net investment or relates to intercompany notes that are long term in nature.
Revenue Recognition, Policy
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 contracts have a separate performance obligation, revenue related to any post-shipment performance obligation is deferred until completed. Shipping and handling costs charged to customers are included in total net sales and the associated expense is a component of cost of sales. Certain products are also sold through indirect distribution channels whereby the distributor assumes any further obligations to the end-customer. Revenue is recognized on these distributor arrangements upon transfer of control to the distributor. Contracts do not contain variable pricing arrangements that are retrospective, except for rebate programs. Rebates are estimated based on expected sales volumes and offset against revenue at the time such revenue is recognized. The Company generally maintains the right to accept or reject a product return in its terms and conditions and also maintains appropriate accruals for outstanding credits. The 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 limited number of small software applications. The Company primarily sells software products with 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.
Lessee, Leases [Policy Text Block]
Leases
The Company considers an arrangement a lease if the arrangement transfers the right to control the use of an identified asset in exchange for consideration. The Company has operating leases, but does not have material financing leases.
Operating lease right-of-use assets represent the right to use an underlying asset for the lease term, and lease liabilities represent the obligation to make payments arising from the lease agreement. These assets and liabilities are recognized at the commencement of the lease based upon the present value of the lease payments over the lease term. Lease payments include both lease and non-lease components for items or activities that transfer a good and service. Vehicle lease and non-lease components are separately accounted for based on stand-alone value. Real estate lease and non-lease components are accounted for as a single component. Operating lease right-of-use assets include initial direct costs, advanced lease payments, and lease incentives.
The lease term reflects the noncancellable period of the lease together with periods covered by an option to extend or terminate the lease when management is reasonably certain that it will exercise such option. The Company applies its incremental borrowing rate at the lease commencement date in determining the present value of lease payments as the information necessary to determine the rate implicit in the lease is not readily available. The incremental borrowing rate reflects similar terms by geographic location to the underlying leases. The Company’s lease agreements do not contain any material residual value guarantees or material restrictive covenants.
Lease expense for operating leases is recognized on a straight-line basis over the lease term. Variable lease payments consist of non-lease services related to the lease. Variable lease payments are excluded from the right-of-use asset and lease liabilities and are expensed as incurred. Short-term leases are less than one year without purchase or renewal options that are reasonably certain to be exercised and are recognized on a straight-line basis over the lease term. The right-of-use asset is tested for impairment in accordance with ASC 360.
Research and Development Expense, Policy
Research and Development
Research and development costs primarily consist of salaries, consulting, and other costs. The Company expenses these costs as incurred.
Employee Termination Benefits, Policy
Restructuring charges
Restructuring charges include costs associated with exit and disposal activities including employee termination benefits, contract termination and other costs associated with various cost saving initiatives undertaken by the Company.
In situations where contractual termination benefits exist, the Company records accruals for employee termination benefits when it is probable that a liability has been incurred and the amount of the liability is reasonably estimable. All other employee termination arrangements are recognized and measured at their fair value at the communication date unless the employee is required to render additional service beyond the legal notification period, in which case the liability is recognized ratably over the future service period.
Earnings per Common Share, Policy
Earnings per Common Share
In accordance with the treasury stock method, the Company has included 123,406, 226,500, and 327,768 common equivalent shares in the calculation of diluted weighted average number of common shares for the years ended December 31, 2023, 2022, and 2021, respectively, relating to outstanding stock options and restricted stock units.
Outstanding options and restricted stock units to purchase or receive 54,840, 42,855, and 24,036 shares of common stock for the years ended December 31, 2023, 2022, and 2021, respectively, have been excluded from the calculation of diluted weighted average number of common and common equivalent shares as such options and restricted stock units would be anti-dilutive.
Equity Based Compensation, Policy
Equity-Based Compensation
The Company applies the fair value methodology in accounting for its equity-based compensation plan.
Derivatives Financial Instruments, Policy
Derivative Financial Instruments
The Company has limited involvement with derivative financial instruments and does not use them for trading purposes. As described more fully in Note 6, the Company primarily enters into foreign currency forward exchange contracts to economically hedge certain short-term intercompany balances involving its international businesses. Such contracts limit the Company’s exposure to currency fluctuations on the underlying hedged item. These contracts are adjusted to fair market value as of each balance sheet date, with the resulting changes in fair value being recognized in other charges (income), consistent with the underlying hedged item.
The Company also enters into interest rate swap agreements and cross currency swaps in order to manage its exposure to changes in interest rates. The differential paid or received on interest rate swap agreements is recognized as incurred in interest expense over the life of the hedge agreements. Floating to fixed interest rate swap agreements are accounted for as cash flow hedges. Changes in fair value of outstanding interest rate swap agreements that are effective as cash flow hedges are initially recognized in other comprehensive income as incurred.
Fair Value Measurements, Policy
Fair Value Measurements
The Company measures or monitors certain assets and liabilities on a fair value basis. Fair value is used on a recurring basis for assets and liabilities in which fair value is the primary basis of accounting, mainly derivative instruments. 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. When determining the fair value measurements for assets and liabilities required to be recorded at fair value, the Company considers the principal or most advantageous market in which it would transact and considers assumptions that market participants would use when pricing the asset or liability. The Company applies the fair value hierarchy established under U.S. GAAP and when possible looks to active and observable markets to price identical assets and liabilities. If identical assets and liabilities are not traded in active markets, the Company looks to observable market data for similar assets and liabilities.
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. 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. During the period ended December 31, 2023, the Company amended its credit agreement and cross currency swap agreements 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 in June 2023 did not have a material impact on the Company’s financial statements.
In November 2021, the FASB issued ASU 2021-10: Government Assistance, which increases the transparency of government assistance including the disclosure of the types of assistance, an entity's accounting for the assistance, and the effect of the assistance on an entity's financial statements. The Company early adopted this guidance on a prospective basis in the fourth quarter of 2021. The adoption of this guidance did not have a material impact on the Company's disclosures.
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 this guidance 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 this guidance on the consolidated financial statements.
v3.24.0.1
Revenue from Contracts with Customers (Tables)
 12 Months Ended
Dec. 31, 2023
Revenue from Contract with Customer [Abstract]  
Disaggregation of Revenue [Table Text Block] A summary by the Company’s reportable segments follows for the years ended December 31:
Twelve months ended December 31, 2023U.S. OperationsSwiss OperationsWestern European OperationsChinese OperationsOther OperationsTotal
Product Revenue$1,039,766 $147,792 $542,707 $656,834 $519,562 $2,906,661 
Service Revenue:
Point in time
279,234 29,917 170,343 45,127 131,214 655,835 
Over time
84,919 10,970 79,857 16,857 33,210 225,813 
Total$1,403,919 $188,679 $792,907 $718,818 $683,986 $3,788,309 
Twelve months ended December 31, 2022U.S. OperationsSwiss OperationsWestern European OperationsChinese OperationsOther OperationsTotal
Product Revenue$1,113,983 $139,490 $581,168 $777,276 $506,804 $3,118,721 
Service Revenue:
Point in time
256,837 27,800 134,781 46,931 121,786 588,135 
Over time
73,640 8,829 83,982 17,319 29,083 212,853 
Total$1,444,460 $176,119 $799,931 $841,526 $657,673 $3,919,709 
Twelve months ended December 31, 2021U.S. OperationsSwiss OperationsWestern European OperationsChinese OperationsOther OperationsTotal
Product Revenue$1,004,891 $135,987 $600,527 $707,355 $511,855 $2,960,615 
Service Revenue:
Point in time
218,306 26,764 151,656 48,343 120,860 565,929 
Over time
64,786 8,882 77,578 15,953 24,187 191,386 
Total$1,287,983 $171,633 $829,761 $771,651 $656,902 $3,717,930 
The Company's global revenue mix by product category for the year ended December 31, 2023 is laboratory (55% of sales), industrial (39% of sales), and retail (6% of sales). The Company’s product revenue by reportable segment is proportionately similar to the Company’s global mix with the exception of the Company’s Swiss Operations, which is largely comprised of laboratory products, and the Company’s Chinese Operations, which has a slightly higher percentage of industrial products. A breakdown of the Company’s sales by product category for the year ended December 31 follows:
202320222021
Laboratory$2,068,807 $2,230,381 $2,083,025 
Industrial1,490,445 1,510,554 1,446,544 
Retail229,057 178,774 188,361 
Total net sales$3,788,309 $3,919,709 $3,717,930 
A breakdown of net sales to external customers by geographic customer destination, net for the year ended December 31 follows:
 202320222021
Americas$1,568,210 $1,582,493 $1,419,832 
Europe1,015,498 1,014,360 1,062,961 
Asia/Rest of World1,204,601 1,322,856 1,235,137 
Total$3,788,309 $3,919,709 $3,717,930 
Contract with Customer, Asset and Liability [Table Text Block]
202320222021
Beginning balances as of January 1$192,759 $192,648 $149,106 
Customer prepayments/deferred revenue670,178 731,482 711,067 
Revenue recognized(663,165)(720,362)(667,245)
Foreign currency translation2,250 (11,009)(280)
Ending balance as of December 31$202,022 $192,759 $192,648 
v3.24.0.1
Inventories (Tables)
 12 Months Ended
Dec. 31, 2023
INVENTORIES [Abstract]  
Schedule of Inventory, Current [Table Text Block]
20232022
Raw materials and parts$180,352 $222,170 
Work-in-progress81,181 77,848 
Finished goods124,332 141,676 
Total inventory$385,865 $441,694 
v3.24.0.1
Fair Value Measurements (Tables)
 12 Months Ended
Dec. 31, 2023
Fair Value Measurements [Abstract]  
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis
 20232022Balance Sheet Location
Foreign currency forward contracts not designated as hedging instruments$8,330 $3,958 Other current assets and prepaid expenses
Cash flow hedges:
Cross currency swap agreement— 609 Other current assets and prepaid expenses
Cross currency swap agreement— 6,890 Other non-current assets
Total derivative assets$8,330 $11,457 
Foreign currency forward contracts not designated as hedging instruments$8,245 $2,056 Accrued and other liabilities
Cash flow hedges:
Cross currency swap agreements2,678 3,366 Accrued and other liabilities
Cross currency swap agreements14,270 — Other non-current liabilities
Total derivative liabilities$25,193 $5,422 
v3.24.0.1
Property, Plant and Equipment, Net (Tables)
 12 Months Ended
Dec. 31, 2023
Property, Plant and Equipment, Net [Abstract]  
Property, Plant and Equipment [Table Text Block]
20232022
Land$64,870 $61,072 
Building and leasehold improvements407,836 372,398 
Machinery and equipment527,038 488,915 
Computer software507,464 512,494 
Property, plant, and equipment, gross1,507,208 1,434,879 
Less accumulated depreciation and amortization(703,834)(656,279)
Property, plant, and equipment, net$803,374 $778,600 
v3.24.0.1
Goodwill and Other Intangible Assets (Tables)
 12 Months Ended
Dec. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of Goodwill [Table Text Block]
20232022
Balance at beginning of year$660,170 $648,622 
Goodwill acquired2,810 18,644 
Foreign currency translation7,128 (7,096)
Balance at year end$670,108 $660,170 
Schedule Of Finite Lived And Indefinite Lived Intangible Assets By Major Class [Table Text Block]
 20232022
Gross
Amount		Accumulated
Amortization		Intangibles, NetGross
Amount		Accumulated
Amortization		Intangibles, Net
Customer relationships$294,180 $(107,665)$186,515 $292,713 $(92,981)$199,732 
Proven technology and patents129,227 (75,014)54,213 123,623 (64,089)59,534 
Tradenames (finite life)7,908 (4,535)3,373 7,675 (3,543)4,132 
Tradenames (indefinite life)36,320 — 36,320 36,252 — 36,252 
Other13,236 (8,228)5,008 13,271 (6,867)6,404 
 $480,871 $(195,442)$285,429 $473,534 $(167,480)$306,054 
v3.24.0.1
Debt (Tables)
 12 Months Ended
Dec. 31, 2023
Debt Disclosure [Abstract]  
Schedule of Debt .    DEBT
Debt consisted of the following at December 31:
20232022
4.10% $50 million 10-year Senior Notes due September 19, 2023— 50,000 
3.84% $125 million 10-year Senior Notes due September 19, 2024125,000 125,000 
4.24% $125 million 10-year Senior Notes due June 25, 2025125,000 125,000 
3.91% $75 million 10-year Senior Notes due June 25, 202975,000 75,000 
5.45% $150 million 10-year Senior Notes due March 1, 2033150,000 — 
2.83% $125 million 12-year Senior Notes due July 22, 2033125,000 125,000 
3.19% $50 million 15-year Senior Notes due January 24, 203550,000 50,000 
2.81% $150 million 15-year Senior Notes due March 17, 2037150,000 150,000 
2.91% $150 million 15-year Senior Notes due September 1, 2037150,000 150,000 
1.47% EUR 125 million 15-year Senior Notes due June 17, 2030137,966 133,794 
1.30% EUR 135 million 15-year Senior Notes due November 6, 2034149,003 144,497 
1.06% EUR 125 million 15-year Senior Notes due March 19, 2036137,966 133,794 
Senior Notes debt issuance costs, net(4,019)(4,521)
Total Senior Notes1,370,916 1,257,564 
$1.25 billion Credit Agreement, interest at benchmark plus 87.5 basis points(1)(2)
638,445 697,211 
Other local arrangements71,478 59,759 
Total debt2,080,839 2,014,534 
Less: current portion(192,219)(106,054)
Total long-term debt$1,888,620 $1,908,480 
v3.24.0.1
Shareholders' Equity (Tables)
 12 Months Ended
Dec. 31, 2023
Stockholders' Equity Note [Abstract]  
Rollforward Of Accumulated Other Comprehensive Income [Table Text Block]
Currency Translation Adjustment, Net of TaxNet Unrealized
Gain (Loss) on
Cash Flow Hedging Arrangements,
Net of Tax		Pension and Post-Retirement Benefit Related Items,
Net of Tax		Total
Balance at December 31, 2020$(31,101)$(1,479)$(302,345)$(334,925)
Other comprehensive income (loss), net of tax:
Net unrealized actuarial gains (loss), prior service cost, and plan amendments— — 38,124 38,124 
Net unrealized gains (loss) on cash flow hedging arrangements
— 4,394 — 4,394 
Foreign currency translation adjustment
11,535 — 9,235 20,770 
Amounts recognized from accumulated other comprehensive income (loss), net of tax
— (2,913)19,326 16,413 
Net change in other comprehensive income (loss), net of tax
11,535 1,481 66,685 79,701 
Balance at December 31, 2021$(19,566)$2 $(235,660)$(255,224)
Other comprehensive income (loss), net of tax:
Net unrealized actuarial gains (loss), prior service cost, and plan amendments— — 70,663 70,663 
Net unrealized gains (loss) on cash flow hedging arrangements— 10,029 — 10,029 
Foreign currency translation adjustment(63,298)— 3,094 (60,204)
Amounts recognized from accumulated other comprehensive income (loss), net of tax— (5,775)13,278 7,503 
Net change in other comprehensive income (loss), net of tax(63,298)4,254 87,035 27,991 
Balance at December 31, 2022$(82,864)$4,256 $(148,625)$(227,233)
Other comprehensive income (loss), net of tax:
Net unrealized actuarial gains (loss), prior service cost, and plan amendments— — (48,800)(48,800)
Net unrealized gains (loss) on cash flow hedging arrangements
— (12,372)— (12,372)
Foreign currency translation adjustment
(34,366)— (11,762)(46,128)
Amounts recognized from accumulated other comprehensive income (loss), net of tax
— 8,236 6,482 14,718 
Net change in other comprehensive income (loss), net of tax
(34,366)(4,136)(54,080)(92,582)
Balance at December 31, 2023$(117,230)$120 $(202,705)$(319,815)
Reclassification out of Accumulated Other Comprehensive Income [Table Text Block]
202320222021Location of Amounts Recognized in Earnings
Effective portion of losses (gains) on cash flow hedging arrangements:
Interest rate swap agreements
$— $352 $2,178 Interest expense
Cross currency swap
10,168 (7,454)(5,604)(a)
Total before taxes10,168 (7,102)(3,426)
Provision for taxes1,932 (1,327)(513)Provision for taxes
Total, net of taxes$8,236 $(5,775)$(2,913)
Recognition of defined benefit pension and post-retirement items:
Recognition of actuarial losses, plan amendments, prior service cost, and settlement charge before taxes
$8,240 $16,896 $24,529 (b)
Provision for taxes1,758 3,618 5,203 Provision for taxes
Total, net of taxes$6,482 $13,278 $19,326 
v3.24.0.1
Equity Incentive Plan (Tables)
 12 Months Ended
Dec. 31, 2023
Share-Based Payment Arrangement [Abstract]  
Table of Performance Share Unit Monte Carlo Assumptions [Table Text Block]
202320222021
Risk-free interest rate4.71 %4.58 %0.61 %
Expected life in years333
Expected volatility27 %26 %25 %
Expected dividend yield— — — 
Schedule of Stock Options, Activity
Number of
Options		Weighted Average
Exercise Price		Aggregate Intrinsic
Value (in millions)
Outstanding at December 31, 2022308,149 $635.00 $250.5 
Granted27,027 1,027.33 
Exercised(61,268)313.93 
Forfeited(13,950)787.01 
Outstanding at December 31, 2023259,958 $743.30 $127.2 
Options exercisable at December 31, 2023203,600 $618.26 $123.5 
Schedule Shares Outstanding under Stock Option Plans, by Exercise Price Range
Number of Options
Outstanding		Weighted Average
Exercise Price		Remaining Contractual
Life of Options
Outstanding		Options
Exercisable
113,857 $431.30 3.11116,997 
101,714 $839.04 6.4670,316 
44,387 $1,324.22 8.0916,287 
259,958  5.27203,600 
Schedule of Stock Options, Valuation Assumptions
202320222021
Risk-free interest rate4.64 %4.35 %0.95 %
Expected life in years6.76.46.3
Expected volatility27 %26 %25 %
Expected dividend yield— — — 
Schedule Restricted Stock Units, Activity
Number of Restricted
Stock Units		Aggregate Intrinsic Value (in millions)Number of Performance Share UnitsAggregate Intrinsic Value (in millions)
Outstanding at December 31, 202224,892 $36.012,282 $17.8
Granted12,517  2,998 
Adjustment for performance results achieved(1)
— 4,505 
Vested(8,798) (9,010)
Forfeited(1,872) (364)
Outstanding at December 31, 202326,739 $32.410,411 $12.6
v3.24.0.1
Benefit Plans (Tables)
 12 Months Ended
Dec. 31, 2023
Defined Benefit Plan [Abstract]  
Schedule of Defined Benefit Plans Disclosures
 U.S. Pension BenefitsNon-U.S. Pension BenefitsOther BenefitsTotal
 20232022202320222023202220232022
Change in benefit obligation:      
Benefit obligation at beginning of year
$110,293 $141,906 $785,295 $1,027,333 $670 $875 $896,258 $1,170,114 
Service cost, gross1,155 1,665 33,159 36,640 — — 34,314 38,305 
Interest cost5,023 2,696 19,991 5,927 28 12 25,042 8,635 
Actuarial losses (gains)552 (27,541)65,734 (219,304)372 206 66,658 (246,639)
Plan amendments and other— — — 13 — — — 13 
Benefits paid(8,477)(8,433)(53,164)(34,949)(456)(423)(62,097)(43,805)
Impact of foreign currency— — 66,306 (30,365)— — 66,306 (30,365)
Benefit obligation at end of year
$108,546 $110,293 $917,321 $785,295 $614 $670 $1,026,481 $896,258 
Change in plan assets:      
Fair value of plan assets at beginning of year
$87,341 $113,523 $894,865 $1,008,261 $— $— $982,206 $1,121,784 
Actual return on plan assets7,083 (17,863)38,133 (96,866)— — 45,216 (114,729)
Employer contributions114 114 26,414 24,441 456 423 26,984 24,978 
Plan participants’ contributions
— — 19,214 17,600 — — 19,214 17,600 
Benefits paid(8,477)(8,433)(53,164)(34,949)(456)(423)(62,097)(43,805)
Impact of foreign currency— — 84,715 (23,622)— — 84,715 (23,622)
Fair value of plan assets at end of year
$86,061 $87,341 $1,010,177 $894,865 $— $— $1,096,238 $982,206 
Funded status$(22,485)$(22,952)$92,856 $109,570 $(614)$(670)$69,757 $85,948 
Schedule of Amounts Recognized in Balance Sheet
 U.S. Pension BenefitsNon-U.S. Pension BenefitsOther BenefitsTotal
 20232022202320222023202220232022
Other non-current assets$— $— $202,119 $202,368 $— $— $202,119 $202,368 
Accrued and other liabilities(124)(131)(5,368)(4,986)(106)(115)(5,598)(5,232)
Pension and other post-retirement liabilities
(22,361)(22,821)(103,895)(90,342)(508)(555)(126,764)(113,718)
Accumulated other comprehensive loss (income)
47,631 50,822 222,346 151,924 19 (430)269,996 202,316 
Total$25,146 $27,870 $315,202 $258,964 $(595)$(1,100)$339,753 $285,734 
Schedule of Net Periodic Benefit Cost Not yet Recognized
U.S. Pension
Benefits		Non-U.S. Pension
Benefits		Other BenefitsTotalTotal, After Tax
2023202220232022202320222023202220232022
Plan amendments and prior service cost$— $— $(21,755)$(24,701)$(276)$(351)$(22,031)$(25,052)$(18,212)$(20,237)
Actuarial losses (gains)47,631 50,822 244,101 176,625 295 (79)292,027 227,368 231,446 $180,278 
Total$47,631 $50,822 $222,346 $151,924 $19 $(430)$269,996 $202,316 $213,234 $160,041 
Schedule of Changes in Accumulated Postemployment Benefit Obligations
U.S. Pension
Benefits		Non-U.S. Pension
Benefits		Other BenefitsTotalTotal, After Tax
Net actuarial losses (gains)$(999)$62,592 $372 $61,965 $48,800 
Plan amendment— — — — — 
Amortization of:
Actuarial (losses) gains(2,192)(10,448)2 (12,638)(10,010)
Plan amendments and prior service cost— 4,323 75 4,398 3,528 
Impact of foreign currency— 13,955 — 13,955 11,762 
Total$(3,191)$70,422 $449 $67,680 $54,080 
Schedule of Assumptions Used in Computing Benefit Obligation
 U.S.Non-U.S.
 2023202220232022
Discount rate4.68 %4.87 %2.07 %2.57 %
Compensation increase raten/an/a0.84 %0.87 %
Expected long-term rate of return on plan assets6.75 %6.75 %3.84 %3.84 %
Interest crediting raten/an/a1.50 %1.50 %
Schedule of Assumptions Used in Computing Pension Cost
 U.S.Non-U.S.
 202320222021202320222021
Discount rate4.87 %2.57 %2.22 %2.57 %0.40 %0.63 %
Compensation increase raten/an/an/a0.87 %0.85 %0.85 %
Expected long-term rate of return on plan assets6.75 %5.75 %5.75 %3.84 %3.78 %3.78 %
Schedule of Net Benefit Costs [Table Text Block]
Net periodic pension cost and net periodic post-retirement benefit for the defined benefit plans and U.S. post-retirement plan include the following components for the years ended December 31:
U.S.Non-U.S.Other BenefitsTotal
202320222021202320222021202320222021202320222021
Service cost, net$1,155 $1,665 $1,498 $13,945 $19,040 $19,558 $— $— $— $15,100 $20,705 $21,056 
Interest cost on projected benefit obligations
5,023 2,696 2,194 19,991 5,927 3,347 28 12 8 25,042 8,635 5,549 
Expected return on plan assets(5,532)(6,189)(5,974)(34,675)(36,308)(35,511)— — — (40,207)(42,497)(41,485)
Recognition of actuarial losses/(gains) and prior service cost2,192 2,337 2,916 6,061 14,665 21,725 (76)(106)(112)8,177 16,896 24,529 
Net periodic pension cost/(benefit)$2,838 $509 $634 $5,322 $3,324 $9,119 $(48)$(94)$(104)$8,112 $3,739 $9,649 
Schedule of Allocation of Plan Assets
 December 31, 2023December 31, 2022
Quoted
Prices in
Active
Markets for
Identical
Assets
(Level 1)		Observable
Inputs for
Identical
Assets
(Level 2)		Unobservable
Inputs
(Level 3)		TotalQuoted
Prices in
Active
Markets for
Identical
Assets
(Level 1)		Observable
Inputs for
Identical
Assets
(Level 2)		Unobservable
Inputs
(Level 3)		Total
Asset Category:     
Cash and Cash Equivalents$48,710 $— $— $48,710 $99,535 $— $— $99,535 
Equity Securities:        
Mettler-Toledo Stock2,606 — — 2,606 3,107 — — 3,107 
Equity Mutual Funds:        
U.S.(1)
5,831 24,856 — 30,687 5,753 24,133 — 29,886 
International(2)
294,703 10,314 — 305,017 89,247 9,496 — 98,743 
Emerging Markets(3)
19,941 — — 19,941 127,506 — — 127,506 
Fixed Income Securities:        
Corporate/Government Bonds(4)
91,495 — — 91,495 79,221 — — 79,221 
Fixed Income Mutual Funds:       
Insurance Contracts(5)
— 25,458 1,972 27,430 — 25,126 1,775 26,901 
Core Bond(6)
144,948 57,286 — 202,234 73,315 62,956 — 136,271 
Real Asset Mutual Funds:        
Real Estate(7)
— 186,804 — 186,804 — 167,693 — 167,693 
Commodities(8)
50,109 — — 50,109 49,603 — — 49,603 
Other Types of Investments:        
Debt Securities (9)
45,156 — — 45,156 41,099 — — 41,099 
Global Allocation Funds(10)
4,326 — — 4,326 4,370 — — 4,370 
Multi-Strategy Fund of Hedge Funds (11)
— 22,336 — 22,336 — 17,702 — 17,702 
Insurance Linked Securities(12)
2,870— — 2,870 13,243 — — 13,243 
Total assets in fair value hierarchy
$710,695 $327,054 $1,972 $1,039,721 $585,999 $307,106 $1,775 $894,880 
Investments measured at net asset value:
International(13)
— 2,409 
Emerging Markets (13)
6,4445,980
Multi-Strategy Fund of Hedge Funds (13)
50,07378,937
Total pension assets at fair value
$1,096,238 $982,206 
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation
Insurance
Contracts
Balance at December 31, 2021$1,787 
Actual return on plan assets related to assets held at end of year(1)
Purchases80 
Impact of foreign currency(91)
Balance at December 31, 2022$1,775 
Actual return on plan assets related to assets held at end of year31 
Purchases91 
Impact of foreign currency75 
Balance at December 31, 2023$1,972 
Schedule of Expected Benefit Payments
U.S. Pension
Benefits		Non-U.S. Pension
Benefits		Other Benefits, Net of
Subsidy		Total
2024$8,674 $55,323 $106 $64,103 
20258,738 57,135 94 65,967 
20268,724 56,092 83 64,899 
20278,688 57,814 73 66,575 
20288,637 58,505 64 67,206 
2029-203340,720 284,418 213 325,351 
v3.24.0.1
Taxes (Tables)
 12 Months Ended
Dec. 31, 2023
Income Tax Disclosure [Abstract]  
Schedule of Income before Income Tax, Domestic and Foreign
202320222021
United States$142,078 $144,107 $109,918 
Non-United States831,650 926,485 839,443 
Earnings before taxes$973,728 $1,070,592 $949,361 
Schedule of Components of Income Tax Expense (Benefit)
CurrentDeferredTotal
Year ended December 31, 2023:
United States federal$20,036 $(10,949)$9,087 
United States state and local8,946 (838)8,108 
Non-United States169,341 (1,586)167,755 
Total$198,323 $(13,373)$184,950 
Year ended December 31, 2022:   
United States federal$363 $9,710 $10,073 
United States state and local4,893 1,282 6,175 
Non-United States166,317 15,525 181,842 
Total$171,573 $26,517 $198,090 
Year ended December 31, 2021:   
United States federal$7,750 $(7,415)$335 
United States state and local3,670 (1,099)2,571 
Non-United States168,393 9,077 177,470 
Total$179,813 $563 $180,376 
Schedule of Effective Income Tax Rate Reconciliation
202320222021
Expected tax$204,483 $224,825 $199,365 
United States state and local income taxes, net of federal income tax benefit6,858 5,132 1,235 
Non-United States income taxes at other than U.S. federal rate(14,611)(3,055)3,439 
Excess tax benefits from stock option exercises(13,674)(22,965)(22,843)
Other, net1,894 (5,847)(820)
Total provision for taxes$184,950 $198,090 $180,376 
Schedule of Deferred Tax Assets and Liabilities
20232022
Deferred tax assets:  
Inventory$24,969 $26,401 
Lease liability, accrued and other liabilities92,601 91,892 
Accrued post-retirement benefit and pension costs34,015 33,010 
Net operating loss and other tax carryforwards43,036 37,797 
Swiss tax reform intangible assets55,767 49,642 
Other6,726 4,927 
Total deferred tax assets257,114 243,669 
Less valuation allowance(73,460)(62,615)
Total deferred tax assets less valuation allowance183,654 181,054 
Deferred tax liabilities:  
Inventory12,095 8,053 
Lease right-of-use assets and other assets26,510 28,297 
Property, plant, and equipment83,326 76,867 
Acquired intangibles amortization62,479 61,278 
Prepaid post-retirement benefit and pension costs49,918 52,197 
International earnings19,641 27,357 
Unrealized currency gains7,165 11,285 
Total deferred tax liabilities261,134 265,334 
Net deferred tax (liability) asset$(77,480)$(84,280)
Summary of Income Tax Contingencies
20232022
Unrecognized tax benefits at beginning of year$50,822 $46,432 
Increases related to current tax positions5,867 12,942 
Decreases related to prior year tax positions(2,641)(7,245)
Impact of foreign currency4,177 (1,307)
Unrecognized tax benefits at end of year$58,225 $50,822 
v3.24.0.1
Leases (Tables)
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Leases [Abstract]    
Lessee, Operating Leases, Statement of Position location and balances [Table Text Block]
20232022Balance Sheet Location
Right-of-use assets, net$114,392 $114,321 Other non-current assets
Current lease liability$28,516 $29,271 Accrued and other liabilities
Non-current lease liability86,930 86,888 Other non-current liabilities
Total operating lease liability$115,446 $116,159 
  
Lease, Cost [Table Text Block]
202320222021
Operating lease expense$37,849$37,145$36,137 
Variable lease expense7,0224,6494,503 
Short-term lease expense1,0049581,018 
Total lease expense$45,875$42,752$41,658 
Weighted average remaining lease term6.5 years7.9 years7.4 years
Weighted average discount rate4.0%2.9%2.1 %
  
Lessee, Operating Lease, Liability, Maturity [Table Text Block]  
The following is a maturity analysis of the annual undiscounted cash flows for the annual periods ended December 31:
2024$33,065 
202524,444 
202618,113 
202711,835 
20288,853 
Thereafter35,908 
Total lease payments132,218 
Less imputed interest(16,772)
Total operating lease liability$115,446 
v3.24.0.1
Segment Reporting (Tables)
 12 Months Ended
Dec. 31, 2023
Segment Reporting [Abstract]  
Schedule of Segment Reporting Information, by Segment [Table Text Block]
For the Year Ended December 31, 2023Net Sales to
External
Customers		Net Sales to
Other
Segments		Total Net
Sales		Segment
Profit		DepreciationTotal AssetsPurchase of
Property, Plant,
and Equipment		Goodwill
U.S. Operations$1,403,919 $137,192 $1,541,111 $365,052 $15,863 $3,848,003 $(36,269)$526,392 
Swiss Operations188,679 761,114 949,793 281,481 7,017 3,554,911 (8,030)27,532 
Western European Operations792,907 188,963 981,870 178,673 5,351 1,533,297 (5,052)101,653 
Chinese Operations718,818 278,027 996,845 367,094 9,609 989,955 (10,133)621 
Other(a)
683,986 20,600 704,586 106,238 4,297 408,200 (12,380)13,910 
Eliminations and Corporate(b)
(1,385,896)(1,385,896)(146,642)6,814 (6,978,811)(33,459)— 
Total$3,788,309 $— $3,788,309 $1,151,896 $48,951 $3,355,555 $(105,323)$670,108 
For the Year Ended December 31, 2022Net Sales to
External
Customers		Net Sales to
Other
Segments		Total Net
Sales		Segment
Profit		DepreciationTotal AssetsPurchase of
Property, Plant,
and Equipment		Goodwill
U.S. Operations$1,444,460 $156,884 $1,601,344 $357,802 $14,582 $3,574,842 $(55,464)$524,470 
Swiss Operations176,119 839,951 1,016,070 309,844 6,644 2,968,539 (7,690)25,058 
Western European Operations799,931 196,900 996,831 174,352 4,970 1,314,332 (5,110)96,077 
Chinese Operations841,526 308,164 1,149,690 424,162 9,699 1,234,303 (12,418)641 
Other(a)
657,673 3,959 661,632 90,322 4,176 388,639 (6,268)13,924 
Eliminations and Corporate(b)
— (1,505,858)(1,505,858)(164,023)6,713 (5,988,260)(34,291)— 
Total$3,919,709 $— $3,919,709 $1,192,459 $46,784 $3,492,395 $(121,241)$660,170 
For the Year Ended December 31, 2021Net Sales to
External
Customers		Net Sales to
Other
Segments		Total Net
Sales		Segment
Profit		DepreciationTotal AssetsPurchase of
Property, Plant,
and Equipment		Goodwill
U.S. Operations$1,287,983 $155,987 $1,443,970 $302,177 $12,123 $3,278,400 $(34,972)$508,942 
Swiss Operations171,633 826,001 997,634 301,142 6,557 2,700,965 (7,856)23,710 
Western European Operations829,761 211,547 1,041,308 172,265 5,264 1,566,819 (11,014)100,433 
Chinese Operations771,651 291,779 1,063,430 369,835 9,566 1,037,838 (15,700)710 
Other(a)
656,902 4,780 661,682 100,028 3,819 365,182 (5,652)14,827 
Eliminations and Corporate(b)
— (1,490,094)(1,490,094)(187,636)7,653 (5,622,406)(32,386)— 
Total$3,717,930 $— $3,717,930 $1,057,811 $44,982 $3,326,798 $(107,580)$648,622 
(a)Other includes reporting units in Southeast Asia, Latin America, Eastern Europe, and other countries.
(b)Eliminations and Corporate includes the elimination of intersegment transactions as well as certain corporate expenses and intercompany investments, which are not included in the Company’s operating segments.
Revenue from External Customers by Products and Services [Table Text Block] I
Schedule of Revenue from External Customers and Long-Lived Assets, by Geographical Areas [Table Text Block] eakdown of net sales to external customers by geographic customer destination and property, plant, and equipment by geographic destination for the years ended December 31 follows:
Net SalesProperty, Plant, and
Equipment, Net
 20232022202120232022
United States$1,346,468 $1,363,335 $1,217,114 $224,696 $228,997 
Other Americas221,742 219,158 202,718 13,152 4,155 
Total Americas1,568,210 1,582,493 1,419,832 237,848 233,152 
Germany221,482 219,813 229,341 36,123 39,159 
France139,304 147,430 152,225 22,684 8,027 
United Kingdom79,455 85,382 90,431 30,651 30,828 
Switzerland91,564 80,891 82,381 332,136 300,155 
Other Europe483,693 480,844 508,583 19,285 35,914 
Total Europe1,015,498 1,014,360 1,062,961 440,879 414,083 
China707,592 823,842 754,002 87,972 90,343 
Rest of World497,009 499,014 481,135 36,675 41,022 
Total Asia/Rest of World1,204,601 1,322,856 1,235,137 124,647 131,365 
Total$3,788,309 $3,919,709 $3,717,930 $803,374 $778,600 
v3.24.0.1
Summary of Significant Accounting Policies (Tables)
 12 Months Ended
Dec. 31, 2023
Summary of Significant Accounting Policies [Abstract]  
Property, Plant and Equipment Useful Life
Buildings and improvements15 to 50 years
Machinery and equipment3 to 12 years
Computer software3 to 10 years
Leasehold improvementsShorter of useful life or lease term
In September 2021, the Company entered into an agreement with the U.S. Department of Defense to increase domestic production capacity of pipette tips and enhance manufacturing automation and logistics. As of December 31, 2023, we have received the maximum allowable funding of $35.8 million related to the agreement, which offset associated capital expenditures. In accordance with ASU 2021-10: Government Assistance, the Company applies guidance within IAS 20 - Accounting for Government Grants and Disclosure and accounts for the government agreement by reducing the cost of the asset within property, plant, and equipment in the consolidated balance sheets by the amount of the funds received.
v3.24.0.1
Summary of Significant Accounting Policies 2 (Details) - shares
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Property, Plant and Equipment Useful Life      
Incremental Common Shares Attributable to Share-based Payment Arrangements 123,406 226,500 327,768
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount 54,840 42,855 24,036
Capitalized Software Costs [Member]      
Property, Plant and Equipment Useful Life      
Property, Plant and Equipment, Useful Life 10 years    
Minimum [Member] | Building and Building Improvements      
Property, Plant and Equipment Useful Life      
Property, Plant and Equipment, Useful Life 15 years    
Minimum [Member] | Machinery and Equipment      
Property, Plant and Equipment Useful Life      
Property, Plant and Equipment, Useful Life 3 years    
Minimum [Member] | Software      
Property, Plant and Equipment Useful Life      
Property, Plant and Equipment, Useful Life 3 years    
Maximum [Member] | Building and Building Improvements      
Property, Plant and Equipment Useful Life      
Property, Plant and Equipment, Useful Life   50 years  
Maximum [Member] | Machinery and Equipment      
Property, Plant and Equipment Useful Life      
Property, Plant and Equipment, Useful Life   12 years  
Maximum [Member] | Software      
Property, Plant and Equipment Useful Life      
Property, Plant and Equipment, Useful Life   10 years  
v3.24.0.1
Revenue from Contracts with Customers (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Disaggregation of Revenue [Line Items]        
Revenue from Contract with Customer, Excluding Assessed Tax $ 3,788,309 $ 3,919,709 $ 3,717,930  
Net Sales 3,788,309 3,919,709 3,717,930  
Revenues 3,788,309 3,919,709 3,717,930  
Contract with Customer, Asset, after Allowance for Credit Loss 35,700 29,200    
Contract with Customer, Liability 202,022 192,759 192,648 $ 149,106
Customer prepayments and deferred revenue 670,178 731,482 711,067  
Contract with Customer, Liability, Revenue Recognized (663,165) (720,362) (667,245)  
Temporary Equity, Foreign Currency Translation Adjustments 2,250 (11,009) (280)  
Americas [Member]        
Disaggregation of Revenue [Line Items]        
Revenue from Contract with Customer, Excluding Assessed Tax 1,568,210      
Net Sales   1,582,493    
Europe [Member]        
Disaggregation of Revenue [Line Items]        
Revenue from Contract with Customer, Excluding Assessed Tax 1,015,498      
Net Sales   1,014,360    
Asia [Member]        
Disaggregation of Revenue [Line Items]        
Revenue from Contract with Customer, Excluding Assessed Tax 1,204,601      
Net Sales   1,322,856    
Product [Member]        
Disaggregation of Revenue [Line Items]        
Revenues 2,906,661 3,118,721 2,960,615  
Product [Member] | Transferred at Point in Time [Member]        
Disaggregation of Revenue [Line Items]        
Revenue from Contract with Customer, Excluding Assessed Tax 2,906,661 3,118,721 2,960,615  
Service [Member]        
Disaggregation of Revenue [Line Items]        
Revenues 881,648 800,988 757,315  
Service [Member] | Transferred at Point in Time [Member]        
Disaggregation of Revenue [Line Items]        
Revenue from Contract with Customer, Excluding Assessed Tax 655,835 588,135 565,929  
Service [Member] | Transferred over Time [Member]        
Disaggregation of Revenue [Line Items]        
Revenue from Contract with Customer, Excluding Assessed Tax $ 225,813 212,853 191,386  
Laboratory products and services [Member]        
Disaggregation of Revenue [Line Items]        
Percentage of Disaggregated Revenue in Relationship to Segments 55.00%      
Revenue from Contract with Customer, Excluding Assessed Tax $ 2,068,807      
Revenues   2,230,381 2,083,025  
Industrial products and services [Member]        
Disaggregation of Revenue [Line Items]        
Percentage of Disaggregated Revenue in Relationship to Segments 39.00%      
Revenue from Contract with Customer, Excluding Assessed Tax $ 1,490,445      
Revenues   1,510,554 1,446,544  
Retail products and services [Member]        
Disaggregation of Revenue [Line Items]        
Percentage of Disaggregated Revenue in Relationship to Segments 6.00%      
Revenue from Contract with Customer, Excluding Assessed Tax $ 229,057      
Revenues   178,774 188,361  
US Operations [Member]        
Disaggregation of Revenue [Line Items]        
Revenue from Contract with Customer, Excluding Assessed Tax 1,403,919 1,444,460 1,287,983  
US Operations [Member] | Product [Member] | Transferred at Point in Time [Member]        
Disaggregation of Revenue [Line Items]        
Revenue from Contract with Customer, Excluding Assessed Tax 1,039,766 1,113,983 1,004,891  
US Operations [Member] | Service [Member] | Transferred at Point in Time [Member]        
Disaggregation of Revenue [Line Items]        
Revenue from Contract with Customer, Excluding Assessed Tax 279,234 256,837 218,306  
US Operations [Member] | Service [Member] | Transferred over Time [Member]        
Disaggregation of Revenue [Line Items]        
Revenue from Contract with Customer, Excluding Assessed Tax 84,919 73,640 64,786  
Swiss Operations [Member]        
Disaggregation of Revenue [Line Items]        
Revenue from Contract with Customer, Excluding Assessed Tax 188,679 176,119 171,633  
Swiss Operations [Member] | Product [Member] | Transferred at Point in Time [Member]        
Disaggregation of Revenue [Line Items]        
Revenue from Contract with Customer, Excluding Assessed Tax 147,792 139,490 135,987  
Swiss Operations [Member] | Service [Member] | Transferred at Point in Time [Member]        
Disaggregation of Revenue [Line Items]        
Revenue from Contract with Customer, Excluding Assessed Tax 29,917 27,800 26,764  
Swiss Operations [Member] | Service [Member] | Transferred over Time [Member]        
Disaggregation of Revenue [Line Items]        
Revenue from Contract with Customer, Excluding Assessed Tax 10,970 8,829 8,882  
Western European Operations [Member]        
Disaggregation of Revenue [Line Items]        
Revenue from Contract with Customer, Excluding Assessed Tax 792,907 799,931 829,761  
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 542,707 581,168 600,527  
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 170,343 134,781 151,656  
Western European Operations [Member] | Service [Member] | Transferred over Time [Member]        
Disaggregation of Revenue [Line Items]        
Revenue from Contract with Customer, Excluding Assessed Tax 79,857 83,982 77,578  
Chinese Operations [Member]        
Disaggregation of Revenue [Line Items]        
Revenue from Contract with Customer, Excluding Assessed Tax 718,818 841,526 771,651  
Chinese Operations [Member] | Product [Member] | Transferred at Point in Time [Member]        
Disaggregation of Revenue [Line Items]        
Revenue from Contract with Customer, Excluding Assessed Tax 656,834 777,276 707,355  
Chinese Operations [Member] | Service [Member] | Transferred at Point in Time [Member]        
Disaggregation of Revenue [Line Items]        
Revenue from Contract with Customer, Excluding Assessed Tax 45,127 46,931 48,343  
Chinese Operations [Member] | Service [Member] | Transferred over Time [Member]        
Disaggregation of Revenue [Line Items]        
Revenue from Contract with Customer, Excluding Assessed Tax 16,857 17,319 15,953  
Other Operations [Member]        
Disaggregation of Revenue [Line Items]        
Revenue from Contract with Customer, Excluding Assessed Tax 683,986 657,673 656,902  
Other Operations [Member] | Product [Member] | Transferred at Point in Time [Member]        
Disaggregation of Revenue [Line Items]        
Revenue from Contract with Customer, Excluding Assessed Tax 519,562 506,804 511,855  
Other Operations [Member] | Service [Member] | Transferred at Point in Time [Member]        
Disaggregation of Revenue [Line Items]        
Revenue from Contract with Customer, Excluding Assessed Tax 131,214 121,786 120,860  
Other Operations [Member] | Service [Member] | Transferred over Time [Member]        
Disaggregation of Revenue [Line Items]        
Revenue from Contract with Customer, Excluding Assessed Tax $ 33,210 $ 29,083 $ 24,187  
v3.24.0.1
Acquisitions Business Combinations (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Oct. 24, 2021
Mar. 24, 2021
Business Acquisition [Line Items]          
Payment for Contingent Consideration Liability, Financing Activities $ 7,767 $ 7,912 $ 0    
Business Combination, Contingent Consideration Arrangements, Change in Amount of Contingent Consideration, Liability 0 0 6,849    
Goodwill, Acquired During Period 2,810 18,644      
Amortization of Intangible Assets 27,600 26,500 22,500    
Asset Acquisition, Contingent Consideration [Line Items]          
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill 3,000        
Other Acquisitions [Member]          
Business Acquisition [Line Items]          
Business Combination, Consideration Transferred 5,800 38,000 8,300    
Asset Acquisition, Contingent Consideration [Line Items]          
Business Combination, Consideration Transferred 5,800 $ 38,000 $ 8,300    
PendoTECH acquisition          
Business Acquisition [Line Items]          
Business Combination, Consideration Transferred 185,000        
Goodwill, Acquired During Period 93,100        
Amortization of Intangible Assets 6,900        
Business Combination, Contingent Consideration Arrangements, Range of Outcomes, Value, High         $ 20,000
Business Combination, Contingent Consideration, Liability $ 20,000       13,500
minimum useful lives 5 years        
maximum useful lives 20 years        
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net $ 7,400        
Business Combination, Consideration Transferred, Other 7,400        
Asset Acquisition, Contingent Consideration [Line Items]          
Business Combination, Contingent Consideration, Liability Increase 6,800        
Business Combination, Consideration Transferred 185,000        
Business Combination, Contingent Consideration Arrangements, Range of Outcomes, Value, High         $ 20,000
Business Combination, Contingent Consideration Other Liability 300        
Scale-Up Systems Acquisition          
Business Acquisition [Line Items]          
Business Combination, Consideration Transferred 20,200        
Goodwill, Acquired During Period $ 11,100        
Business Combination, Contingent Consideration Arrangements, Range of Outcomes, Value, High       $ 3,000  
minimum useful lives 7 years        
maximum useful lives 10 years        
Asset Acquisition, Contingent Consideration [Line Items]          
Business Combination, Consideration Transferred $ 20,200        
Business Combination, Contingent Consideration Arrangements, Range of Outcomes, Value, High       $ 3,000  
Customer Relationships [Member] | PendoTECH acquisition          
Business Acquisition [Line Items]          
Finite-lived Intangible Assets Acquired 78,600        
Other Intangible Assets [Member] | PendoTECH acquisition          
Business Acquisition [Line Items]          
Finite-lived Intangible Assets Acquired 2,400        
Other Intangible Assets [Member] | Scale-Up Systems Acquisition          
Business Acquisition [Line Items]          
Finite-lived Intangible Assets Acquired 11,400        
Technology-Based Intangible Assets [Member] | PendoTECH acquisition          
Business Acquisition [Line Items]          
Finite-lived Intangible Assets Acquired 21,700        
Trade Names [Member] | PendoTECH acquisition          
Business Acquisition [Line Items]          
Finite-lived Intangible Assets Acquired $ 3,400        
v3.24.0.1
Inventories (Details) - USD ($)
$ in Thousands
Dec. 31, 2023
Dec. 31, 2022
INVENTORIES [Abstract]    
Raw Materials and Supplies $ 180,352 $ 222,170
Work in Process 81,181 77,848
Finished Goods 124,332 141,676
Inventory, Net $ 385,865 $ 441,694
v3.24.0.1
Financial Instruments (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Derivative Instruments, Gain (Loss) [Line Items]      
Long Term Debt Percentage Bearing Fixed Interest Percentage 78.00%    
Gain/Loss on FX Effectiveness   $ 0  
Designated as Hedging Instrument [Member]      
Derivative Instruments, Gain (Loss) [Line Items]      
Cash Flow Hedge Gain (Loss) to be Reclassified within Twelve Months $ 7,300    
Designated as Hedging Instrument [Member] | 2.52% $50 Million Interest Rate Swap [Member]      
Derivative Instruments, Gain (Loss) [Line Items]      
Gain/Loss on IR Effectiveness 0 0  
Designated as Hedging Instrument [Member] | Cross Currency Swap [Member]      
Derivative Instruments, Gain (Loss) [Line Items]      
Gain/Loss on FX Effectiveness 0    
Not Designated as Hedging Instrument [Member]      
Derivative Instruments, Gain (Loss) [Line Items]      
Derivative, Amount of Hedged Item 793,900 930,300  
Gain (Loss) on Foreign Currency Derivative Instruments Not Designated as Hedging Instruments $ 19,700 $ 21,600 $ 13,500
v3.24.0.1
Fair Value Measurements (Details) - USD ($)
$ in Thousands
Dec. 31, 2023
Dec. 31, 2022
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Derivative Asset, Fair Value, Gross Asset $ 8,300 $ 11,500
Derivative Liability, Statement of Financial Position [Extensible Enumeration] Accrued and other liabilities Accrued and other liabilities
Derivative Liability $ 25,200 $ 5,400
Cash Equivalents, at Carrying Value 4,000 25,300
Fair Value, Inputs, Level 2 [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Derivative Asset, Fair Value, Gross Asset 8,330 11,457
Derivative Liability, Fair Value, Gross Liability 25,193 5,422
Change in Carrying Value Verse Fair Value of Long Term Debt 204,100  
Foreign Currency Derivative Instruments Not Designated as Hedging Instruments, Asset at Fair Value 8,330 3,958
Foreign Currency Contract, Current Asset, Fair Value 0 609
Foreign Currency Contract, Asset, Fair Value Disclosure 0 6,890
Foreign Currency Derivative Instruments Not Designated as Hedging Instruments, Liability at Fair Value 8,245 2,056
Foreign Currency Cash Flow Hedge Liability at Fair Value 14,270 0
Short-Term Cross Currency Swap | Fair Value, Inputs, Level 2 [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Foreign Currency Cash Flow Hedge Liability at Fair Value $ 2,678 $ 3,366
v3.24.0.1
Property, Plant and Equipment, Net (Details) - USD ($)
$ in Thousands
Dec. 31, 2023
Dec. 31, 2022
Property, Plant and Equipment    
Property, Plant and Equipment, Gross $ 1,507,208 $ 1,434,879
Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment (703,834) (656,279)
Total Property, Plant and Equipment, Net 803,374 778,600
Land [Member]    
Property, Plant and Equipment    
Property, Plant and Equipment, Gross 64,870 61,072
Building and Building Improvements    
Property, Plant and Equipment    
Property, Plant and Equipment, Gross 407,836 372,398
Machinery and Equipment    
Property, Plant and Equipment    
Property, Plant and Equipment, Gross 527,038 488,915
Software    
Property, Plant and Equipment    
Property, Plant and Equipment, Gross $ 507,464 $ 512,494
v3.24.0.1
Goodwill and Other Intangible Assets (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Goodwill [Roll Forward]    
Goodwill, Beginning $ 660,170 $ 648,622
Goodwill, Acquired During Period 2,810 18,644
Goodwill, Translation Adjustments 7,128 (7,096)
Goodwill, Ending $ 670,108 $ 660,170
v3.24.0.1
Goodwill and Other Intangible Assets 1 (Details) - USD ($)
$ in Thousands
Dec. 31, 2023
Dec. 31, 2022
Finite Life and Indefinite Life Intangible Assets    
Intangible Assets, Net (Excluding Goodwill) $ 285,429 $ 306,054
Intangible Assets Excluding Goodwill Gross 480,871 473,534
Intangible Assets Accumulated Amortization (195,442) (167,480)
Customer Relationships [Member]    
Finite Life and Indefinite Life Intangible Assets    
Finite-Lived Intangible Assets, Gross 294,180 292,713
Finite-Lived Intangible Assets, Accumulated Amortization (107,665) (92,981)
Intangible Assets, Net (Excluding Goodwill) 186,515 199,732
Proven technology and patents    
Finite Life and Indefinite Life Intangible Assets    
Finite-Lived Intangible Assets, Gross 129,227 123,623
Finite-Lived Intangible Assets, Accumulated Amortization (75,014) (64,089)
Intangible Assets, Net (Excluding Goodwill) 54,213 59,534
Tradename (Finite Life)    
Finite Life and Indefinite Life Intangible Assets    
Finite-Lived Intangible Assets, Gross 7,908 7,675
Finite-Lived Intangible Assets, Accumulated Amortization (4,535) (3,543)
Intangible Assets, Net (Excluding Goodwill) 3,373 4,132
Tradename (Indefinite Life)    
Finite Life and Indefinite Life Intangible Assets    
Intangible Assets, Net (Excluding Goodwill) 36,320 36,252
Indefinite-lived Intangible Assets (Excluding Goodwill) 36,320 36,252
Other Intangible Assets [Member]    
Finite Life and Indefinite Life Intangible Assets    
Finite-Lived Intangible Assets, Gross 13,236 13,271
Finite-Lived Intangible Assets, Accumulated Amortization (8,228) (6,867)
Intangible Assets, Net (Excluding Goodwill) $ 5,008 $ 6,404
v3.24.0.1
Goodwill and Other Intangible Assets Narrative (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Amortization of Intangible Assets $ 27.6 $ 26.5 $ 22.5
Future Amortization Expense, Year One 27.8    
Future Amortization Expense, Year Two 26.9    
Future Amortization Expense, Year Three 22.9    
Future Amortization Expense, Year Four 21.3    
Future Amortization Expense, Year Five 19.5    
Amortization Of Acquired Intangible Asset Net Of Tax 26.4 25.5 21.6
Purchased Intangibles, Net of Tax 20.5 19.8 16.3
Capitalized Computer Software, Amortization $ 44.4 $ 39.6 $ 40.4
Minimum [Member]      
Finite-Lived Intangible Assets, Useful Life, Minimum 3 years    
Maximum [Member]      
Finite-Lived Intangible Assets, Useful Life, Minimum 45 years    
v3.24.0.1
Debt - Schedule of Debt (Details)
€ in Thousands
 12 Months Ended
Dec. 31, 2023
USD ($)
Rate
Dec. 31, 2023
EUR (€)
Dec. 31, 2022
USD ($)
Debt Instrument [Line Items]      
Senior Notes $ 1,370,916,000   $ 1,257,564,000
Debt issuance costs, net (4,019,000)   (4,521,000)
Other Borrowings 71,478,000   59,759,000
Total debt 2,080,839,000   2,014,534,000
Less: current portion (192,219,000)   (106,054,000)
Long-term debt 1,888,620,000   1,908,480,000
Line of Credit Facility, Maximum Borrowing Capacity $ 1,250,000,000   1.1
Debt Instrument, Term 10 years    
Line of Credit [Member]      
Debt Instrument [Line Items]      
$1.1 billion Credit Agreement, interest at LIBOR plus 87.5 basis points(1) $ 638,445,000   697,211,000
Debt Instrument, Maturity Date Jun. 15, 2023    
Debt Instrument, Basis Spread on Variable Rate | Rate 0.875%    
Line of Credit Facility, Remaining Borrowing Capacity $ 606,400,000    
3.67% Senior Notes [Member]      
Debt Instrument [Line Items]      
Senior Notes $ 50,000,000    
Debt Instrument, Interest Rate, Stated Percentage 3.67% 3.67%  
Debt Instrument, Maturity Date Dec. 17, 2022    
4.10% Senior Notes [Member]      
Debt Instrument [Line Items]      
Senior Notes $ 50,000,000   50,000,000
Debt Instrument, Interest Rate, Stated Percentage 4.10% 4.10%  
Debt Instrument, Maturity Date Sep. 19, 2023    
Debt Instrument, Term 10 years    
3.84% Senior Notes [Member]      
Debt Instrument [Line Items]      
Senior Notes $ 125,000,000   125,000,000
Debt Instrument, Interest Rate, Stated Percentage 3.84% 3.84%  
Debt Instrument, Maturity Date Sep. 19, 2024    
Debt Instrument, Term 10 years    
4.24% Senior Notes [Member]      
Debt Instrument [Line Items]      
Senior Notes $ 125,000,000   125,000,000
Debt Instrument, Interest Rate, Stated Percentage 4.24% 4.24%  
Debt Instrument, Maturity Date Jun. 25, 2025    
Debt Instrument, Term 10 years    
3.91% Senior Notes [Member]      
Debt Instrument [Line Items]      
Senior Notes $ 75,000,000   75,000,000
Debt Instrument, Interest Rate, Stated Percentage 3.91% 3.91%  
Debt Instrument, Maturity Date Jun. 25, 2029    
Debt Instrument, Term 10 years    
3.19% Senior Notes [Member]      
Debt Instrument [Line Items]      
Senior Notes $ 50,000,000 € 50,000 50,000,000
Debt Instrument, Interest Rate, Stated Percentage 3.19% 3.19%  
Debt Instrument, Maturity Date Jan. 24, 2035    
Debt Instrument, Term 15 years    
1.47% EURO Senior Notes [Member]      
Debt Instrument [Line Items]      
Senior Notes $ 137,966,000 € 125,000 133,794,000
Debt Instrument, Interest Rate, Stated Percentage 1.47% 1.47%  
Debt Instrument, Maturity Date Jun. 17, 2030    
Debt Instrument, Term 15 years    
1.30% Euro-Senior Notes [Member]      
Debt Instrument [Line Items]      
Senior Notes $ 149,003,000 € 135,000 144,497,000
Debt Instrument, Interest Rate, Stated Percentage 1.30% 1.30%  
Debt Instrument, Maturity Date Nov. 06, 2034    
Debt Instrument, Term 15 years    
2.83% Senior Notes      
Debt Instrument [Line Items]      
Senior Notes $ 125,000,000   125,000,000
1.06% Euro-Senior Notes [Member]      
Debt Instrument [Line Items]      
Senior Notes $ 137,966,000 € 125,000 133,794,000
Debt Instrument, Interest Rate, Stated Percentage 1.06% 1.06%  
5.45 Percent Senior Notes      
Debt Instrument [Line Items]      
Senior Notes $ 150,000,000    
Debt Instrument, Interest Rate, Stated Percentage 5.45% 5.45%  
5.45% Senior Notes      
Debt Instrument [Line Items]      
Senior Notes $ 150,000,000    
2.81% Senior Notes      
Debt Instrument [Line Items]      
Senior Notes 150,000,000   150,000,000
2.91% Senior Notes      
Debt Instrument [Line Items]      
Senior Notes $ 150,000,000   $ 150,000,000
v3.24.0.1
Debt - Narrative (Details)
€ in Thousands, SFr in Millions
 12 Months Ended
Dec. 31, 2023
USD ($)
Rate
Dec. 31, 2022
USD ($)
Rate
Dec. 31, 2021
USD ($)
Dec. 31, 2023
EUR (€)
Rate
Dec. 31, 2023
CHF (SFr)
Rate
Debt Instrument [Line Items]          
Debt, Weighted Average Interest Rate | Rate 3.60% 2.80%   3.60% 3.60%
Senior Notes $ 1,370,916,000 $ 1,257,564,000      
Other Comprehensive Income (Loss), Net Investment Hedge, Gain (Loss), Reclassification, before Tax 12,900,000 24,600,000 $ 34,300,000    
Cumulative (gain) loss in other other comprehensive income related to the change in a net investment hedge. 17,300,000        
Line of Credit Facility, Maximum Borrowing Capacity $ 1,250,000,000 1.1      
Debt Instrument, Covenant Description The amended agreements require the Company to maintain a consolidated interest coverage ratio of not less than 3.0 to 1.0 and a net consolidated leverage ratio of not more than 3.5 to 1.0.        
Debt Instrument, Covenant Compliance The Company was in compliance with its covenants at December 31, 2023.        
Debt Issuance Costs, Gross $ 4,000,000        
Line of Credit [Member]          
Debt Instrument [Line Items]          
Line of Credit Facility, Remaining Borrowing Capacity $ 606,400,000        
Debt Instrument, Maturity Date Jun. 15, 2023        
Debt Instrument, Basis Spread on Variable Rate | Rate 0.875%        
1.47% EURO Senior Notes [Member]          
Debt Instrument [Line Items]          
Senior Notes $ 137,966,000 133,794,000   € 125,000  
Debt Instrument, Interest Rate, Stated Percentage 1.47%     1.47% 1.47%
Debt Instrument, Maturity Date Jun. 17, 2030        
1.30% Euro-Senior Notes [Member]          
Debt Instrument [Line Items]          
Senior Notes $ 149,003,000 144,497,000   € 135,000  
Debt Instrument, Interest Rate, Stated Percentage 1.30%     1.30% 1.30%
Debt Instrument, Maturity Date Nov. 06, 2034        
Swiss Pension Loans [Member]          
Debt Instrument [Line Items]          
Swiss Pension Loans (local currency) | SFr         SFr 38
Debt Instrument, Basis Spread on Variable Rate | Rate 87.50%        
Swiss Pension Loans (Consolidated currency) $ 39,600,000        
1.06% Euro-Senior Notes [Member]          
Debt Instrument [Line Items]          
Senior Notes $ 137,966,000 133,794,000   € 125,000  
Debt Instrument, Interest Rate, Stated Percentage 1.06%     1.06% 1.06%
2.83% Senior Notes          
Debt Instrument [Line Items]          
Senior Notes $ 125,000,000 $ 125,000,000      
2.81% Senior Note          
Debt Instrument [Line Items]          
Senior Notes $ 150        
Debt Instrument, Interest Rate, Stated Percentage | Rate 281.00%     281.00% 281.00%
2.91% Senior Note          
Debt Instrument [Line Items]          
Senior Notes $ 150        
Debt Instrument, Interest Rate, Stated Percentage | Rate 291.00%     291.00% 291.00%
v3.24.0.1
Shareholders' Equity Other Comprehensive Income Rollforward (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Accumulated Other Comprehensive Income (Loss) [Line Items]        
Accumulated Other Comprehensive Income (Loss), Net of Tax $ (319,815) $ (227,233) $ (255,224) $ (334,925)
Other Comprehensive (Income) Loss, Defined Benefit Plan, before Reclassification Adjustment, after Tax (48,800) 70,663 38,124  
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), after Reclassification, before Tax (12,372) 10,029 4,394  
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment, Net of Tax (46,128) (60,204) 20,770  
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax   7,503    
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI on Derivatives, Net of Tax     2,913  
Reclassification from AOCI, Current Period, Net of Tax, Attributable to Parent 14,718   16,413  
Other Comprehensive Income (Loss), Net of Tax (92,582) 27,991 79,701  
Accumulated Foreign Currency Adjustment Attributable to Parent [Member]        
Accumulated Other Comprehensive Income (Loss) [Line Items]        
Accumulated Other Comprehensive Income (Loss), Net of Tax (117,230) (82,864) (19,566) (31,101)
Other Comprehensive (Income) Loss, Defined Benefit Plan, before Reclassification Adjustment, after Tax 0 0 0  
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), after Reclassification, before Tax 0 0 0  
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment, Net of Tax (34,366) (63,298) 11,535  
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax 0 0    
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Reclassification Adjustment from AOCI, Realized upon Sale or Liquidation, Net of Tax     0  
Other Comprehensive Income (Loss), Net of Tax (34,366) (63,298) 11,535  
Accumulated Net Gain (Loss) from Cash Flow Hedges Attributable to Parent [Member]        
Accumulated Other Comprehensive Income (Loss) [Line Items]        
Accumulated Other Comprehensive Income (Loss), Net of Tax 120 4,256 2 (1,479)
Other Comprehensive (Income) Loss, Defined Benefit Plan, before Reclassification Adjustment, after Tax 0 0 0  
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), after Reclassification, before Tax (12,372) 10,029 4,394  
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment, Net of Tax 0 0 0  
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax 8,236 (5,775)    
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI on Derivatives, Net of Tax     (2,913)  
Other Comprehensive Income (Loss), Net of Tax (4,136) 4,254 1,481  
Accumulated Defined Benefit Plans Adjustment Attributable to Parent [Member]        
Accumulated Other Comprehensive Income (Loss) [Line Items]        
Accumulated Other Comprehensive Income (Loss), Net of Tax (202,705) (148,625) (235,660) $ (302,345)
Other Comprehensive (Income) Loss, Defined Benefit Plan, before Reclassification Adjustment, after Tax (48,800) 70,663 38,124  
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), after Reclassification, before Tax 0 0 0  
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment, Net of Tax (11,762) 3,094 9,235  
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax 6,482      
Other Comprehensive (Income) Loss, Defined Benefit Plan, Reclassification Adjustment from AOCI, after Tax   13,278 19,326  
Other Comprehensive Income (Loss), Net of Tax $ (54,080) $ 87,035 $ 66,685  
v3.24.0.1
Shareholders' Equity Amounts recognized from accumulated other comprehensive income (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Stockholders' Equity Note [Abstract]      
Interest Rate Cash Flow Hedge Gain (Loss) Reclassified to Earnings, Net $ 0 $ 352 $ 2,178
Cross Currency Cash Flow Hedge Gain (Loss) Reclassified to Earnings, Net 10,168 (7,454) (5,604)
Derivative Instruments, Gain (Loss) Reclassified from Accumulated OCI into Income, Effective Portion, Net (10,168) 7,102 3,426
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), before Reclassification, Tax 1,932 (1,327)  
Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Derivatives Arising During Period, Tax     (513)
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), after Reclassification and Tax (8,236) 5,775  
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI on Derivatives, Net of Tax     (2,913)
Amortization of actuarial (gains) losses and plan amendments and prior service cost 8,240 16,896 24,529
Other Comprehensive (Income) Loss, Defined Benefit Plan, after Reclassification Adjustment, Tax, Attributable to Parent 1,758 3,618 5,203
Other Comprehensive (Income) Loss, Defined Benefit Plan, after Reclassification Adjustment, after Tax $ 6,482 $ 13,278 $ 19,326
Derivative Instrument, Gain (Loss) Reclassified from AOCI into Income, Effective Portion, Statement of Income or Comprehensive Income [Extensible Enumeration] Interest Expense Interest Expense Interest Expense
v3.24.0.1
Shareholders' Equity Narrative (Details) - USD ($)
$ / shares in Units, $ in Thousands
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Common Stock, Number of Shares, Par Value and Other Disclosure [Abstract]      
Cross Currency Swap interest portion recognized in income $ 21,100 $ 2,700 $ 4,200
Common Stock, Shares Authorized 125,000,000 125,000,000  
Common Stock, Par or Stated Value Per Share $ 0.01 $ 0.01  
Common Stock, Voting Rights one    
Common Stock Reserved for Issuance to the Stock Option Plans 3,408,627    
Preferred Stock, Number of Shares, Par Value and Other Disclosures [Abstract]      
Preferred Stock, Shares Authorized 10,000,000 10,000,000  
Preferred Stock, Par Value $ 0.01 $ 0.01  
Stock Repurchase Program, Additional Authorized Amount   $ 2,500,000  
Share Repurchase Program and Treasury Stock [Abstract]      
Stock Repurchase Program, Remaining Authorized Repurchase Amount $ 2,600,000    
Shares Repurchased Under Share Repurchase Program 31,700,000    
Share Repurchase Program, Total Cost Program to Date $ 8,900,000    
Repurchases of Common Stock, Value $ (900,000) $ (1,099,998) $ (999,998)
Repurchases of Common Stock, Shares 691,913 (838,010) (739,486)
Treasury Stock Acquired, Average Cost Per Share $ 1,300.72 $ 1,312.61 $ 1,352.27
Exercise of stock options and restricted stock units, shares 79,076 133,916 110,748
Cross Currency Swap Revaluation Portion Recognized in Earnings $ 10,900 $ 4,800 $ 1,400
v3.24.0.1
Equity Incentive Plan Rollforward of Stock Options (Details) - USD ($)
$ / shares in Units, $ in Millions
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Share-Based Payment Arrangement [Abstract]    
Options, Outstanding, Number, Beginning 308,149  
Options, Grants in Period, Net of Forfeitures 27,027  
Options, Exercises in Period (61,268)  
Options, Forfeitures in Period (13,950)  
Options, Outstanding, Number, Ending 259,958  
Options, Exercisable, Number 203,600  
Aggregate Intrinsic Value [Abstract]    
Options, Outstanding, Intrinsic Value $ 127.2 $ 250.5
Options, Exercisable, Intrinsic Value $ 123.5  
Weighted Average Exercise Price [Abstract]    
Options, Outstanding, Weighted Average Exercise Price, Beginning $ 635.00  
Options, Grants in Period, Weighted Average Exercise Price 1,027.33  
Options, Exercises in Period, Weighted Average Exercise Price 313.93  
Options, Forfeitures in Period, Weighted Average Exercise Price 787.01  
Options, Outstanding, Weighted Average Exercise Price, Ending 743.30  
Options, Exercisable, Weighted Average Exercise Price $ 618.26  
v3.24.0.1
Equity Incentive Plan Weighted Average Remaining Contractual Life (Details) - $ / shares
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Share-based Compensation Arrangement by Share-based Payment Award    
Options, Outstanding, Number 259,958 308,149
Options, Outstanding, Weighted Average Exercise Price $ 743.30 $ 635.00
Options, Outstanding, Weighted Average Remaining Contractual Term 5 years 3 months 7 days  
Options, Exercisable, Number 203,600  
$1.00-$450.00 Range of Exercise Price    
Share-based Compensation Arrangement by Share-based Payment Award    
Options, Outstanding, Number 113,857  
Options, Outstanding, Weighted Average Exercise Price $ 431.30  
Options, Outstanding, Weighted Average Remaining Contractual Term 3 years 1 month 9 days  
Options, Exercisable, Number 116,997  
$450.0-$1000.0 Range of Exercise Price    
Share-based Compensation Arrangement by Share-based Payment Award    
Options, Outstanding, Number 101,714  
Options, Outstanding, Weighted Average Exercise Price $ 839.04  
Options, Outstanding, Weighted Average Remaining Contractual Term 6 years 5 months 15 days  
Options, Exercisable, Number 70,316  
$1000.0 and above Range of Exercise Price    
Share-based Compensation Arrangement by Share-based Payment Award    
Options, Outstanding, Number 44,387  
Options, Outstanding, Weighted Average Exercise Price $ 1,324.22  
Options, Outstanding, Weighted Average Remaining Contractual Term 8 years 1 month 2 days  
Options, Exercisable, Number 16,287  
v3.24.0.1
Equity Incentive Plan Weighted Average Grant Date Fair Value (Details)
 12 Months Ended
Dec. 31, 2023
Rate
Dec. 31, 2022
Rate
Dec. 31, 2021
Rate
Share-based Payment Arrangement, Option [Member]      
Share-based Compensation Arrangement by Share-based Payment Award      
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Risk Free Interest Rate 4.64% 4.35% 0.95%
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Term 6 years 8 months 12 days 6 years 4 months 24 days 6 years 3 months 18 days
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Volatility Rate 27.00% 26.00% 25.00%
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Dividend Rate 0.00% 0.00% 0.00%
Performance Shares [Member]      
Share-based Compensation Arrangement by Share-based Payment Award      
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Risk Free Interest Rate 4.71% 4.58% 0.61%
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Term 3 years 3 years 3 years
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Volatility Rate 27.00% 26.00% 25.00%
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Dividend Rate 0.00% 0.00% 0.00%
v3.24.0.1
Equity Incentive Plan RSUs and PSUs Rollforward (Details) - $ / shares
$ / shares in Millions
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Share-Based Payment Arrangement [Abstract]    
Restricted Stock Units, Nonvested, Intrinsic Value $ 32.4 $ 36.0
Performance Stock Units, Grants in Period 2,998  
Performance Share Unit, Nonvested, Number of Shares 10,411 12,282
Performance Share units, Nonvested, Intrinsic Value $ 12.6 $ 17.8
Share Based Compensation, Performance Shares Vested in the Period (9,010)  
Share Based Compensation, Performance Shares Forfeited in the period (364)  
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]    
Restricted Stock Units, Nonvested, Number, Beginning 24,892  
Restricted Stock Units, Grants in Period 12,517  
Share Based Compensation, Performance Shares Vested in the Period for Vesting of 2016 PUs 4,505  
Restricted Stock Units, Vested in Period (8,798)  
Restricted Stock Units, Forfeited in Period (1,872)  
Restricted Stock Units, Nonvested, Number, Ending 26,739  
v3.24.0.1
Equity Incentive Plan Narrative (Details) - USD ($)
$ / shares in Units, $ in Thousands
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Share-Based Payment Arrangement [Abstract]      
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period 10 years 6 months    
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value $ 1,029.48 $ 1,230.18 $ 1,445.37
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Intrinsic Value, Amount Per Share $ 12,800,000 10,800,000 11,400,000
Number of Shares Authorized for Stock Option Plan 2,000,000    
Options, Award Vesting Period 5 years    
Restricted Stock Units, Vesting Period 5 years    
Options, Grants in Period, Weighted Average Grant Date Fair Value $ 400.30 $ 447.52 $ 377.89
Options, Exercises in Period, Total Intrinsic Value $ 68,700 $ 121,300 $ 116,000
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested in Period, Fair Value 6,000    
Restricted Stock Units, Vested in Period, Total Fair Value 8,600 8,200 11,400
Allocated Share-based Compensation Expense for Restricted Stock Units $ 8,800 $ 7,900 $ 7,600
Number of Shares Available for Grant 2,873,508    
Deferred Compensation Liability, Current and Noncurrent $ 56,400    
Estimated Weighted Average Amortization Period 2 years 4 months 24 days    
Performance Share Units Vesting Period 3 years    
Performance Options Payout Percentage - Maximum 200.00%    
Performance OptionPayout Percentage - Minimum 0.00%    
Performance Share Unit Payout Percentage - Minimum 0.00%    
Performance Share Units Payout Percentage - Maximum 200.00%    
Performance Option Fair Value $ 1,103.23 $ 1,357.26 $ 1,447.75
Performance Share Unit Total Grant Value $ 3,300    
Performance Share Payout Percentage 5.00%    
Allocated Share-based compensation expense for PSUs $ 3,100 $ 4,000 $ 4,200
v3.24.0.1
Benefit Plans Change in Benefit Benefit Obligation and Plan Assets (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Defined Benefit Plan Disclosure [Line Items]      
Defined Benefit Plan, Benefit Obligation $ 1,026,481 $ 896,258 $ 1,170,114
Defined Benefit Plans, Service Cost and Other $ 34,314 $ 38,305  
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) Excluding Service Cost, Statement of Income or Comprehensive Income [Extensible Enumeration] Other Nonoperating Income (Expense) Other Nonoperating Income (Expense)  
Defined Benefit Plan, Interest Cost $ 25,042 $ 8,635 5,549
Defined Benefit Plan, Benefit Obligation, Actuarial Gain (Loss) 66,658 (246,639)  
Defined Benefit Plan, Benefit Obligation, Increase (Decrease) for Plan Amendment 0 13  
Defined Benefit Plan, Benefit Obligation, Benefits Paid 62,097 43,805  
Defined Benefit Plan, Benefit Obligation, Foreign Currency Translation Gain (Loss) 66,306 (30,365)  
Defined Benefit Plan, Plan Assets, Amount 1,096,238 982,206 1,121,784
Defined Benefit Plan, Plan Assets, Increase (Decrease) for Actual Return (Loss) 45,216 (114,729)  
Defined Benefit Plan, Plan Assets, Contributions by Employer 26,984 24,978  
Defined Benefit Plan, Plan Assets, Contributions by Plan Participant 19,214 17,600  
Defined Benefit Plan, Plan Assets, Benefits Paid 62,097 43,805  
Defined Benefit Plan, Plan Assets, Foreign Currency Translation Gain (Loss) 84,715 (23,622)  
Defined Benefit Plan, Funded (Unfunded) Status of Plan 69,757 85,948  
Pension Plan [Member] | US Pension Benefits      
Defined Benefit Plan Disclosure [Line Items]      
Defined Benefit Plan, Benefit Obligation 108,546 110,293 141,906
Defined Benefit Plans, Service Cost and Other 1,155 1,665  
Defined Benefit Plan, Interest Cost 5,023 2,696 2,194
Defined Benefit Plan, Benefit Obligation, Actuarial Gain (Loss) 552 (27,541)  
Defined Benefit Plan, Benefit Obligation, Increase (Decrease) for Plan Amendment 0 0  
Defined Benefit Plan, Benefit Obligation, Benefits Paid 8,477 8,433  
Defined Benefit Plan, Benefit Obligation, Foreign Currency Translation Gain (Loss) 0 0  
Defined Benefit Plan, Plan Assets, Amount 86,061 87,341 113,523
Defined Benefit Plan, Plan Assets, Increase (Decrease) for Actual Return (Loss) 7,083 (17,863)  
Defined Benefit Plan, Plan Assets, Contributions by Employer 114 114  
Defined Benefit Plan, Plan Assets, Contributions by Plan Participant 0 0  
Defined Benefit Plan, Plan Assets, Benefits Paid 8,477 8,433  
Defined Benefit Plan, Plan Assets, Foreign Currency Translation Gain (Loss) 0 0  
Defined Benefit Plan, Funded (Unfunded) Status of Plan (22,485) (22,952)  
Pension Plan [Member] | Non-US Pension Benefits      
Defined Benefit Plan Disclosure [Line Items]      
Defined Benefit Plan, Benefit Obligation 917,321 785,295 1,027,333
Defined Benefit Plans, Service Cost and Other 33,159 36,640  
Defined Benefit Plan, Interest Cost 19,991 5,927 3,347
Defined Benefit Plan, Benefit Obligation, Actuarial Gain (Loss) 65,734 (219,304)  
Defined Benefit Plan, Benefit Obligation, Increase (Decrease) for Plan Amendment 0 13  
Defined Benefit Plan, Benefit Obligation, Benefits Paid 53,164 34,949  
Defined Benefit Plan, Benefit Obligation, Foreign Currency Translation Gain (Loss) 66,306 (30,365)  
Defined Benefit Plan, Plan Assets, Amount 1,010,177 894,865 1,008,261
Defined Benefit Plan, Plan Assets, Increase (Decrease) for Actual Return (Loss) 38,133 (96,866)  
Defined Benefit Plan, Plan Assets, Contributions by Employer 26,414 24,441  
Defined Benefit Plan, Plan Assets, Contributions by Plan Participant 19,214 17,600  
Defined Benefit Plan, Plan Assets, Benefits Paid 53,164 34,949  
Defined Benefit Plan, Plan Assets, Foreign Currency Translation Gain (Loss) 84,715 (23,622)  
Defined Benefit Plan, Funded (Unfunded) Status of Plan 92,856 109,570  
Other Postretirement Benefits Plan [Member]      
Defined Benefit Plan Disclosure [Line Items]      
Defined Benefit Plan, Benefit Obligation 614 670 875
Defined Benefit Plans, Service Cost and Other 0 0  
Defined Benefit Plan, Interest Cost 28 12 8
Defined Benefit Plan, Benefit Obligation, Actuarial Gain (Loss) 372 206  
Defined Benefit Plan, Benefit Obligation, Increase (Decrease) for Plan Amendment 0 0  
Defined Benefit Plan, Benefit Obligation, Benefits Paid 456 423  
Defined Benefit Plan, Benefit Obligation, Foreign Currency Translation Gain (Loss) 0 0  
Defined Benefit Plan, Plan Assets, Amount 0 0 $ 0
Defined Benefit Plan, Plan Assets, Increase (Decrease) for Actual Return (Loss) 0 0  
Defined Benefit Plan, Plan Assets, Contributions by Employer 456 423  
Defined Benefit Plan, Plan Assets, Contributions by Plan Participant 0 0  
Defined Benefit Plan, Plan Assets, Benefits Paid 456 423  
Defined Benefit Plan, Plan Assets, Foreign Currency Translation Gain (Loss) 0 0  
Defined Benefit Plan, Funded (Unfunded) Status of Plan $ (614) $ (670)  
v3.24.0.1
Benefit Plans Amounts Recognized in the Balance Sheet (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Defined Benefit Plan Disclosure [Line Items]    
Assets for Plan Benefits, Defined Benefit Plan $ 202,119 $ 202,368
Liability, Defined Benefit Plan, Current 5,598 5,232
Liability, Defined Benefit Plan, Noncurrent 126,764 113,718
Defined Benefit Plan, Accumulated Other Comprehensive (Income) Loss, before Tax 269,996 202,316
Other Comprehensive Income (Loss), Defined Benefit Plan, Gain (Loss), after Reclassification Adjustment, before Tax 339,753 285,734
Pension Plan [Member] | US Pension Benefits    
Defined Benefit Plan Disclosure [Line Items]    
Assets for Plan Benefits, Defined Benefit Plan 0 0
Liability, Defined Benefit Plan, Current 124 131
Liability, Defined Benefit Plan, Noncurrent 22,361 22,821
Defined Benefit Plan, Accumulated Other Comprehensive (Income) Loss, before Tax 47,631 50,822
Other Comprehensive Income (Loss), Defined Benefit Plan, Gain (Loss), after Reclassification Adjustment, before Tax 25,146 27,870
Pension Plan [Member] | Non-US Pension Benefits    
Defined Benefit Plan Disclosure [Line Items]    
Assets for Plan Benefits, Defined Benefit Plan 202,119 202,368
Liability, Defined Benefit Plan, Current 5,368 4,986
Liability, Defined Benefit Plan, Noncurrent 103,895 90,342
Defined Benefit Plan, Accumulated Other Comprehensive (Income) Loss, before Tax 222,346 151,924
Other Comprehensive Income (Loss), Defined Benefit Plan, Gain (Loss), after Reclassification Adjustment, before Tax 315,202 258,964
Other Postretirement Benefits Plan [Member]    
Defined Benefit Plan Disclosure [Line Items]    
Assets for Plan Benefits, Defined Benefit Plan 0 0
Liability, Defined Benefit Plan, Current 106 115
Liability, Defined Benefit Plan, Noncurrent 508 555
Defined Benefit Plan, Accumulated Other Comprehensive (Income) Loss, before Tax 19 (430)
Other Comprehensive Income (Loss), Defined Benefit Plan, Gain (Loss), after Reclassification Adjustment, before Tax $ (595) $ (1,100)
v3.24.0.1
Benefit Plans Total Amounts Recognized in OCI (Details) - USD ($)
$ in Thousands
Dec. 31, 2023
Dec. 31, 2022
Defined Benefit Plan Disclosure [Line Items]    
Defined Benefit Plan, Accumulated Other Comprehensive (Income) Loss, Prior Service Cost (Credit), before Tax $ (22,031) $ (25,052)
Accumulated Other Comprehensive (Income) Loss, Defined Benefit Plan, Prior Service Cost (Credit), after Tax (18,212) (20,237)
Defined Benefit Plan, Accumulated Other Comprehensive Income (Loss), Gain (Loss), before Tax 292,027 227,368
Pension and Other Postretirement Benefit Plans, Accumulated Other Comprehensive Income (Loss), Net Gains (Losses), after tax 231,446 180,278
Defined Benefit Plan, Accumulated Other Comprehensive (Income) Loss, before Tax 269,996 202,316
Accumulated Other Comprehensive (Income) Loss, Defined Benefit Plan, after Tax 213,234 160,041
Pension Plan [Member] | US Pension Benefits    
Defined Benefit Plan Disclosure [Line Items]    
Defined Benefit Plan, Accumulated Other Comprehensive (Income) Loss, Prior Service Cost (Credit), before Tax 0  
Defined Benefit Plan, Accumulated Other Comprehensive Income (Loss), Gain (Loss), before Tax 47,631 50,822
Defined Benefit Plan, Accumulated Other Comprehensive (Income) Loss, before Tax 47,631 50,822
Pension Plan [Member] | Non-US Pension Benefits    
Defined Benefit Plan Disclosure [Line Items]    
Defined Benefit Plan, Accumulated Other Comprehensive (Income) Loss, Prior Service Cost (Credit), before Tax (21,755) (24,701)
Defined Benefit Plan, Accumulated Other Comprehensive Income (Loss), Gain (Loss), before Tax 244,101 176,625
Defined Benefit Plan, Accumulated Other Comprehensive (Income) Loss, before Tax 222,346 151,924
Other Postretirement Benefits Plan [Member]    
Defined Benefit Plan Disclosure [Line Items]    
Defined Benefit Plan, Accumulated Other Comprehensive (Income) Loss, Prior Service Cost (Credit), before Tax (276) (351)
Defined Benefit Plan, Accumulated Other Comprehensive Income (Loss), Gain (Loss), before Tax 295 (79)
Defined Benefit Plan, Accumulated Other Comprehensive (Income) Loss, before Tax $ 19 $ (430)
v3.24.0.1
Benefit Plans Amounts Recognized in Other Comprehensive Income (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Defined Benefit Plan Disclosure [Line Items]      
Other Comprehensive Income (Loss), Defined Benefit Plan, Gain (Loss) Arising During Period, before Tax $ 61,965    
Other Comprehensive Income (Loss), Defined Benefit Plan, Gain (Loss) Arising During Period, after Tax (48,800)    
Other Comprehensive (Income) Loss, Defined Benefit Plan, Prior Service Cost (Credit), before Tax 0    
Other Comprehensive (Income) Loss, Defined Benefit Plan, Prior Service Cost (Credit), after Tax 0    
Defined Benefit Plans, Amortization of Gains, Losses and Other Expenses (12,638)    
Other Comprehensive Income (Loss), Defined Benefit Plan, Gain (Loss), Reclassification Adjustment from AOCI, after Tax (10,010)    
Other Comprehensive (Income) Loss, Defined Benefit Plan, Prior Service Cost (Credit), Reclassification Adjustment from AOCI, before Tax 4,398    
Other Comprehensive Income (Loss), Amortization, Pension and Other Postretirement Benefit Plans, Net Prior Service Cost Recognized in Net Periodic Benefit Cost, after tax 3,528    
Defined Benefit Plans, Impact of FX on Current Year Change in OCI 13,955    
Impact of foreign currency (11,762) $ 3,094 $ 9,235
Defined Benefit Plan, Changes in OCI Arising During the Period 67,680    
Defined Benefit Plan, Changes in OCI Arising During the Period, net of tax 54,080    
Pension Plan [Member] | US Pension Benefits      
Defined Benefit Plan Disclosure [Line Items]      
Other Comprehensive Income (Loss), Defined Benefit Plan, Gain (Loss) Arising During Period, before Tax (999)    
Other Comprehensive (Income) Loss, Defined Benefit Plan, Prior Service Cost (Credit), before Tax 0    
Defined Benefit Plans, Amortization of Gains, Losses and Other Expenses (2,192)    
Other Comprehensive (Income) Loss, Defined Benefit Plan, Prior Service Cost (Credit), Reclassification Adjustment from AOCI, before Tax 0    
Defined Benefit Plans, Impact of FX on Current Year Change in OCI 0    
Defined Benefit Plan, Changes in OCI Arising During the Period (3,191)    
Pension Plan [Member] | Non-US Pension Benefits      
Defined Benefit Plan Disclosure [Line Items]      
Other Comprehensive Income (Loss), Defined Benefit Plan, Gain (Loss) Arising During Period, before Tax 62,592    
Other Comprehensive (Income) Loss, Defined Benefit Plan, Prior Service Cost (Credit), before Tax 0    
Defined Benefit Plans, Amortization of Gains, Losses and Other Expenses (10,448)    
Other Comprehensive (Income) Loss, Defined Benefit Plan, Prior Service Cost (Credit), Reclassification Adjustment from AOCI, before Tax 4,323    
Defined Benefit Plans, Impact of FX on Current Year Change in OCI 13,955    
Defined Benefit Plan, Changes in OCI Arising During the Period 70,422    
Other Postretirement Benefits Plan [Member]      
Defined Benefit Plan Disclosure [Line Items]      
Other Comprehensive Income (Loss), Defined Benefit Plan, Gain (Loss) Arising During Period, before Tax 372    
Other Comprehensive (Income) Loss, Defined Benefit Plan, Prior Service Cost (Credit), before Tax 0    
Defined Benefit Plans, Amortization of Gains, Losses and Other Expenses 2    
Other Comprehensive (Income) Loss, Defined Benefit Plan, Prior Service Cost (Credit), Reclassification Adjustment from AOCI, before Tax 75    
Defined Benefit Plans, Impact of FX on Current Year Change in OCI 0    
Defined Benefit Plan, Changes in OCI Arising During the Period $ 449    
v3.24.0.1
Benefit Plans Weighted Average Rates for PBO (Details) - Pension Plan [Member]
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
US Pension Benefits    
Defined Benefit Plan Disclosure [Line Items]    
Defined Benefit Plan, Assumptions Used Calculating Benefit Obligation, Discount Rate 4.68% 4.87%
Defined Benefit Plan, Assumptions Used Calculating the projected benefit obligation, Expected Long-term Return on Assets 6.75% 6.75%
Non-US Pension Benefits    
Defined Benefit Plan Disclosure [Line Items]    
Defined Benefit Plan, Assumptions Used Calculating Benefit Obligation, Discount Rate 2.07% 2.57%
Defined Benefit Plan, Assumptions Used Calculating Benefit Obligation, Rate of Compensation Increase 0.84% 0.87%
Defined Benefit Plan, Assumptions Used Calculating the projected benefit obligation, Expected Long-term Return on Assets 3.84% 3.84%
Defined Benefit Plan, Assumptions Used Calculating Net Periodic Benefit Cost, Weighted-Average Interest Crediting Rate 1.50% 1.50%
v3.24.0.1
Benefit Plans Weighted Average Rates for NPPC (Details) - Pension Plan [Member]
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
US Pension Benefits      
Defined Benefit Plan Disclosure [Line Items]      
Defined Benefit Plan, Assumptions Used Calculating Net Periodic Benefit Cost, Discount Rate 4.87% 2.57% 2.22%
Defined Benefit Plan, Assumptions Used Calculating Net Periodic Benefit Cost, Expected Long-term Rate of Return on Plan Assets 6.75% 5.75% 5.75%
Non-US Pension Benefits      
Defined Benefit Plan Disclosure [Line Items]      
Defined Benefit Plan, Assumptions Used Calculating Net Periodic Benefit Cost, Discount Rate 2.57% 0.40% 0.63%
Defined Benefit Plan, Assumptions Used Calculating Net Periodic Benefit Cost, Rate of Compensation Increase 0.87% 0.85% 0.85%
Defined Benefit Plan, Assumptions Used Calculating Net Periodic Benefit Cost, Expected Long-term Rate of Return on Plan Assets 3.84% 3.78% 3.78%
v3.24.0.1
Benefit Plans Net Periodic Pension Costs (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Defined Benefit Plan Disclosure [Line Items]      
Defined Benefit Plan, Service Cost $ 15,100 $ 20,705 $ 21,056
Defined Benefit Plan, Interest Cost 25,042 8,635 5,549
Defined Benefit Plan, Expected Return (Loss) on Plan Assets 40,207 42,497 41,485
Amortization of Actuarial (Gains) Losses and Plan Amendments 8,177 16,896 24,529
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) $ 8,112 $ 3,739 9,649
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) Excluding Service Cost, Statement of Income or Comprehensive Income [Extensible Enumeration] Other Nonoperating Income (Expense) Other Nonoperating Income (Expense)  
Pension Plan [Member] | US Pension Benefits      
Defined Benefit Plan Disclosure [Line Items]      
Defined Benefit Plan, Service Cost $ 1,155 $ 1,665 1,498
Defined Benefit Plan, Interest Cost 5,023 2,696 2,194
Defined Benefit Plan, Expected Return (Loss) on Plan Assets 5,532 6,189 5,974
Amortization of Actuarial (Gains) Losses and Plan Amendments 2,192 2,337 2,916
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) 2,838 509 634
Pension Plan [Member] | Non-US Pension Benefits      
Defined Benefit Plan Disclosure [Line Items]      
Defined Benefit Plan, Service Cost 13,945 19,040 19,558
Defined Benefit Plan, Interest Cost 19,991 5,927 3,347
Defined Benefit Plan, Expected Return (Loss) on Plan Assets 34,675 36,308 35,511
Amortization of Actuarial (Gains) Losses and Plan Amendments 6,061 14,665 21,725
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) 5,322 3,324 9,119
Other Postretirement Benefits Plan [Member]      
Defined Benefit Plan Disclosure [Line Items]      
Defined Benefit Plan, Service Cost 0 0 0
Defined Benefit Plan, Interest Cost 28 12 8
Amortization of Actuarial (Gains) Losses and Plan Amendments (76) (106) (112)
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) $ (48) $ (94) $ (104)
v3.24.0.1
Benefit Plans Pension Fair Value Assets (Details) - USD ($)
$ in Thousands
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Defined Benefit Plan Disclosure [Line Items]      
Defined Benefit Plan, Plan Assets, Amount $ 1,096,238 $ 982,206 $ 1,121,784
Fair Value, Inputs, Level 1 [Member] | Cash and Cash Equivalents      
Defined Benefit Plan Disclosure [Line Items]      
Defined Benefit Plan, Plan Assets, Amount 48,710 99,535  
Fair Value, Inputs, Level 1 [Member] | Company Stock      
Defined Benefit Plan Disclosure [Line Items]      
Defined Benefit Plan, Plan Assets, Amount 2,606 3,107  
Fair Value, Inputs, Level 1 [Member] | U.S. Equity Mutual Funds      
Defined Benefit Plan Disclosure [Line Items]      
Defined Benefit Plan, Plan Assets, Amount 5,831 5,753  
Fair Value, Inputs, Level 1 [Member] | International Equity Mutual Funds      
Defined Benefit Plan Disclosure [Line Items]      
Defined Benefit Plan, Plan Assets, Amount 294,703 89,247  
Fair Value, Inputs, Level 1 [Member] | Emerging Markets Equity Mutual Funds      
Defined Benefit Plan Disclosure [Line Items]      
Defined Benefit Plan, Plan Assets, Amount 19,941 127,506  
Fair Value, Inputs, Level 1 [Member] | Fixed Income Securities, Corporate and Government Bonds      
Defined Benefit Plan Disclosure [Line Items]      
Defined Benefit Plan, Plan Assets, Amount 91,495 79,221  
Fair Value, Inputs, Level 1 [Member] | Fixed Income Mutual Funds, Insurance Contracts      
Defined Benefit Plan Disclosure [Line Items]      
Defined Benefit Plan, Plan Assets, Amount 0 0  
Fair Value, Inputs, Level 1 [Member] | Fixed Income Mutual Funds, Core Bond      
Defined Benefit Plan Disclosure [Line Items]      
Defined Benefit Plan, Plan Assets, Amount 144,948 73,315  
Fair Value, Inputs, Level 1 [Member] | Real Estate      
Defined Benefit Plan Disclosure [Line Items]      
Defined Benefit Plan, Plan Assets, Amount 0 0  
Fair Value, Inputs, Level 1 [Member] | Real Asset Mutual Funds, Commodities      
Defined Benefit Plan Disclosure [Line Items]      
Defined Benefit Plan, Plan Assets, Amount 50,109 49,603  
Fair Value, Inputs, Level 1 [Member] | Debt Securities [Member]      
Defined Benefit Plan Disclosure [Line Items]      
Defined Benefit Plan, Plan Assets, Amount   41,099  
Fair Value, Inputs, Level 1 [Member] | Other Types of Investments, Global Allocation Funds      
Defined Benefit Plan Disclosure [Line Items]      
Defined Benefit Plan, Plan Assets, Amount 4,326 4,370  
Fair Value, Inputs, Level 1 [Member] | Other Types of Investments Insurance linked securities [Member]      
Defined Benefit Plan Disclosure [Line Items]      
Defined Benefit Plan, Plan Assets, Amount 2,870 13,243  
Fair Value, Inputs, Level 1 [Member] | Defined Benefit Plan Assets, Fair Value Hierarchy      
Defined Benefit Plan Disclosure [Line Items]      
Defined Benefit Plan, Plan Assets, Amount 710,695 585,999  
Fair Value, Inputs, Level 2 [Member] | Cash and Cash Equivalents      
Defined Benefit Plan Disclosure [Line Items]      
Defined Benefit Plan, Plan Assets, Amount 0 0  
Fair Value, Inputs, Level 2 [Member] | Company Stock      
Defined Benefit Plan Disclosure [Line Items]      
Defined Benefit Plan, Plan Assets, Amount 0 0  
Fair Value, Inputs, Level 2 [Member] | U.S. Equity Mutual Funds      
Defined Benefit Plan Disclosure [Line Items]      
Defined Benefit Plan, Plan Assets, Amount 24,856 24,133  
Fair Value, Inputs, Level 2 [Member] | International Equity Mutual Funds      
Defined Benefit Plan Disclosure [Line Items]      
Defined Benefit Plan, Plan Assets, Amount 10,314 9,496  
Fair Value, Inputs, Level 2 [Member] | Emerging Markets Equity Mutual Funds      
Defined Benefit Plan Disclosure [Line Items]      
Defined Benefit Plan, Plan Assets, Amount 0 0  
Fair Value, Inputs, Level 2 [Member] | Fixed Income Securities, Corporate and Government Bonds      
Defined Benefit Plan Disclosure [Line Items]      
Defined Benefit Plan, Plan Assets, Amount 0 0  
Fair Value, Inputs, Level 2 [Member] | Fixed Income Mutual Funds, Insurance Contracts      
Defined Benefit Plan Disclosure [Line Items]      
Defined Benefit Plan, Plan Assets, Amount 25,458 25,126  
Fair Value, Inputs, Level 2 [Member] | Fixed Income Mutual Funds, Core Bond      
Defined Benefit Plan Disclosure [Line Items]      
Defined Benefit Plan, Plan Assets, Amount 57,286 62,956  
Fair Value, Inputs, Level 2 [Member] | Real Estate      
Defined Benefit Plan Disclosure [Line Items]      
Defined Benefit Plan, Plan Assets, Amount 186,804 167,693  
Fair Value, Inputs, Level 2 [Member] | Real Asset Mutual Funds, Commodities      
Defined Benefit Plan Disclosure [Line Items]      
Defined Benefit Plan, Plan Assets, Amount 0 0  
Fair Value, Inputs, Level 2 [Member] | Debt Securities [Member]      
Defined Benefit Plan Disclosure [Line Items]      
Defined Benefit Plan, Plan Assets, Amount 0 0  
Fair Value, Inputs, Level 2 [Member] | Other Types of Investments, Global Allocation Funds      
Defined Benefit Plan Disclosure [Line Items]      
Defined Benefit Plan, Plan Assets, Amount 0 0  
Fair Value, Inputs, Level 2 [Member] | Other Types of Investments, Multi-Strategy Fund      
Defined Benefit Plan Disclosure [Line Items]      
Defined Benefit Plan, Plan Assets, Amount 22,336 17,702  
Fair Value, Inputs, Level 2 [Member] | Other Types of Investments Insurance linked securities [Member]      
Defined Benefit Plan Disclosure [Line Items]      
Defined Benefit Plan, Plan Assets, Amount 0 0  
Fair Value, Inputs, Level 2 [Member] | Defined Benefit Plan Assets, Fair Value Hierarchy      
Defined Benefit Plan Disclosure [Line Items]      
Defined Benefit Plan, Plan Assets, Amount 327,054 307,106  
Fair Value, Inputs, Level 3 [Member] | Cash and Cash Equivalents      
Defined Benefit Plan Disclosure [Line Items]      
Defined Benefit Plan, Plan Assets, Amount 0 0  
Fair Value, Inputs, Level 3 [Member] | Company Stock      
Defined Benefit Plan Disclosure [Line Items]      
Defined Benefit Plan, Plan Assets, Amount 0 0  
Fair Value, Inputs, Level 3 [Member] | U.S. Equity Mutual Funds      
Defined Benefit Plan Disclosure [Line Items]      
Defined Benefit Plan, Plan Assets, Amount 0 0  
Fair Value, Inputs, Level 3 [Member] | International Equity Mutual Funds      
Defined Benefit Plan Disclosure [Line Items]      
Defined Benefit Plan, Plan Assets, Amount 0 0  
Fair Value, Inputs, Level 3 [Member] | Emerging Markets Equity Mutual Funds      
Defined Benefit Plan Disclosure [Line Items]      
Defined Benefit Plan, Plan Assets, Amount 0 0  
Fair Value, Inputs, Level 3 [Member] | Fixed Income Securities, Corporate and Government Bonds      
Defined Benefit Plan Disclosure [Line Items]      
Defined Benefit Plan, Plan Assets, Amount 0 0  
Fair Value, Inputs, Level 3 [Member] | Fixed Income Mutual Funds, Insurance Contracts      
Defined Benefit Plan Disclosure [Line Items]      
Defined Benefit Plan, Plan Assets, Amount 1,972 1,775 $ 1,787
Fair Value, Inputs, Level 3 [Member] | Fixed Income Mutual Funds, Core Bond      
Defined Benefit Plan Disclosure [Line Items]      
Defined Benefit Plan, Plan Assets, Amount 0 0  
Fair Value, Inputs, Level 3 [Member] | Real Estate      
Defined Benefit Plan Disclosure [Line Items]      
Defined Benefit Plan, Plan Assets, Amount 0 0  
Fair Value, Inputs, Level 3 [Member] | Real Asset Mutual Funds, Commodities      
Defined Benefit Plan Disclosure [Line Items]      
Defined Benefit Plan, Plan Assets, Amount 0 0  
Fair Value, Inputs, Level 3 [Member] | Debt Securities [Member]      
Defined Benefit Plan Disclosure [Line Items]      
Defined Benefit Plan, Plan Assets, Amount 0 0  
Fair Value, Inputs, Level 3 [Member] | Other Types of Investments, Global Allocation Funds      
Defined Benefit Plan Disclosure [Line Items]      
Defined Benefit Plan, Plan Assets, Amount 0 0  
Fair Value, Inputs, Level 3 [Member] | Other Types of Investments Insurance linked securities [Member]      
Defined Benefit Plan Disclosure [Line Items]      
Defined Benefit Plan, Plan Assets, Amount 0 0  
Fair Value, Inputs, Level 3 [Member] | Defined Benefit Plan Assets, Fair Value Hierarchy      
Defined Benefit Plan Disclosure [Line Items]      
Defined Benefit Plan, Plan Assets, Amount 1,972 1,775  
Fair Value, Inputs, Level 1, 2 and 3 [Member] | Cash and Cash Equivalents      
Defined Benefit Plan Disclosure [Line Items]      
Defined Benefit Plan, Plan Assets, Amount 48,710 99,535  
Fair Value, Inputs, Level 1, 2 and 3 [Member] | Company Stock      
Defined Benefit Plan Disclosure [Line Items]      
Defined Benefit Plan, Plan Assets, Amount 2,606 3,107  
Fair Value, Inputs, Level 1, 2 and 3 [Member] | U.S. Equity Mutual Funds      
Defined Benefit Plan Disclosure [Line Items]      
Defined Benefit Plan, Plan Assets, Amount 30,687 29,886  
Fair Value, Inputs, Level 1, 2 and 3 [Member] | International Equity Mutual Funds      
Defined Benefit Plan Disclosure [Line Items]      
Defined Benefit Plan, Plan Assets, Amount 305,017 98,743  
Fair Value, Inputs, Level 1, 2 and 3 [Member] | Emerging Markets Equity Mutual Funds      
Defined Benefit Plan Disclosure [Line Items]      
Defined Benefit Plan, Plan Assets, Amount 19,941 127,506  
Fair Value, Inputs, Level 1, 2 and 3 [Member] | Fixed Income Securities, Corporate and Government Bonds      
Defined Benefit Plan Disclosure [Line Items]      
Defined Benefit Plan, Plan Assets, Amount 91,495 79,221  
Fair Value, Inputs, Level 1, 2 and 3 [Member] | Fixed Income Mutual Funds, Insurance Contracts      
Defined Benefit Plan Disclosure [Line Items]      
Defined Benefit Plan, Plan Assets, Amount 27,430 26,901  
Fair Value, Inputs, Level 1, 2 and 3 [Member] | Fixed Income Mutual Funds, Core Bond      
Defined Benefit Plan Disclosure [Line Items]      
Defined Benefit Plan, Plan Assets, Amount 202,234 136,271  
Fair Value, Inputs, Level 1, 2 and 3 [Member] | Real Estate      
Defined Benefit Plan Disclosure [Line Items]      
Defined Benefit Plan, Plan Assets, Amount 186,804 167,693  
Fair Value, Inputs, Level 1, 2 and 3 [Member] | Real Asset Mutual Funds, Commodities      
Defined Benefit Plan Disclosure [Line Items]      
Defined Benefit Plan, Plan Assets, Amount 50,109 49,603  
Fair Value, Inputs, Level 1, 2 and 3 [Member] | Debt Securities [Member]      
Defined Benefit Plan Disclosure [Line Items]      
Defined Benefit Plan, Plan Assets, Amount 45,156 41,099  
Fair Value, Inputs, Level 1, 2 and 3 [Member] | Other Types of Investments, Global Allocation Funds      
Defined Benefit Plan Disclosure [Line Items]      
Defined Benefit Plan, Plan Assets, Amount 4,326 4,370  
Fair Value, Inputs, Level 1, 2 and 3 [Member] | Other Types of Investments Insurance linked securities [Member]      
Defined Benefit Plan Disclosure [Line Items]      
Defined Benefit Plan, Plan Assets, Amount 2,870 13,243  
Fair Value, Inputs, Level 1, 2 and 3 [Member] | Defined Benefit Plan Assets, Fair Value Hierarchy      
Defined Benefit Plan Disclosure [Line Items]      
Defined Benefit Plan, Plan Assets, Amount 1,039,721 894,880  
Fair Value Measured at Net Asset Value Per Share | International Equity Mutual Funds      
Defined Benefit Plan Disclosure [Line Items]      
Defined Benefit Plan, Plan Assets, Amount 0 2,409  
Fair Value Measured at Net Asset Value Per Share | Emerging Markets Equity Mutual Funds      
Defined Benefit Plan Disclosure [Line Items]      
Defined Benefit Plan, Plan Assets, Amount 6,444 5,980  
Fair Value Measured at Net Asset Value Per Share | Hedge Funds, Multi-strategy [Member]      
Defined Benefit Plan Disclosure [Line Items]      
Defined Benefit Plan, Plan Assets, Amount $ 50,073 $ 78,937  
v3.24.0.1
Benefit Plans Level 3 Rollforward (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Actual return on plan assets:      
Defined Benefit Plan, Plan Assets, Foreign Currency Translation Gain (Loss) $ 84,715 $ (23,622)  
Defined Benefit Plan, Plan Assets, Amount 1,096,238 982,206 $ 1,121,784
Real Asset Mutual Funds, Commodities | Fair Value, Inputs, Level 3 [Member]      
Actual return on plan assets:      
Defined Benefit Plan, Plan Assets, Amount 0 0  
Fixed Income Mutual Funds, Insurance Contracts | Fair Value, Inputs, Level 3 [Member]      
Actual return on plan assets:      
Defined Benefit Plan, Plan Assets Level 3 Reconciliation, Increase (Decrease) for Actual Return (Loss) on Plan Assets Still Held 31 (1)  
Defined Benefit Plan, Purchases, Total 91 80  
Defined Benefit Plan, Plan Assets, Foreign Currency Translation Gain (Loss) 75 (91)  
Defined Benefit Plan, Plan Assets, Amount $ 1,972 $ 1,775 $ 1,787
v3.24.0.1
Benefit Plans Future Cash Flows (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Defined Benefit Plan Disclosure [Line Items]      
Defined Benefit Plan, Expected Future Benefit Payment, Next Twelve Months $ 64,103    
Defined Benefit Plan, Expected Future Benefit Payment, Year Two 65,967    
Defined Benefit Plan, Expected Future Benefit Payment, Year Three 64,899    
Defined Benefit Plan, Expected Future Benefit Payment, Year Four 66,575    
Defined Benefit Plan, Expected Future Benefit Payment, Year Five 67,206    
Defined Benefit Plan, Expected Future Benefit Payment, Five Fiscal Years Thereafter $ 325,351    
Pension Plan [Member] | US Pension Benefits      
Defined Benefit Plan Disclosure [Line Items]      
Defined Benefit Plan, Assumptions Used Calculating Benefit Obligation, Discount Rate 4.68% 4.87%  
Defined Benefit Plan, Expected Future Benefit Payment, Next Twelve Months $ 8,674    
Defined Benefit Plan, Expected Future Benefit Payment, Year Two 8,738    
Defined Benefit Plan, Expected Future Benefit Payment, Year Three 8,724    
Defined Benefit Plan, Expected Future Benefit Payment, Year Four 8,688    
Defined Benefit Plan, Expected Future Benefit Payment, Year Five 8,637    
Defined Benefit Plan, Expected Future Benefit Payment, Five Fiscal Years Thereafter $ 40,720    
Defined Benefit Plan, Assumptions Used Calculating Net Periodic Benefit Cost, Discount Rate 4.87% 2.57% 2.22%
Pension Plan [Member] | Non-US Pension Benefits      
Defined Benefit Plan Disclosure [Line Items]      
Defined Benefit Plan, Assumptions Used Calculating Benefit Obligation, Discount Rate 2.07% 2.57%  
Defined Benefit Plan, Expected Future Benefit Payment, Next Twelve Months $ 55,323    
Defined Benefit Plan, Expected Future Benefit Payment, Year Two 57,135    
Defined Benefit Plan, Expected Future Benefit Payment, Year Three 56,092    
Defined Benefit Plan, Expected Future Benefit Payment, Year Four 57,814    
Defined Benefit Plan, Expected Future Benefit Payment, Year Five 58,505    
Defined Benefit Plan, Expected Future Benefit Payment, Five Fiscal Years Thereafter $ 284,418    
Defined Benefit Plan, Assumptions Used Calculating Net Periodic Benefit Cost, Discount Rate 2.57% 0.40% 0.63%
Other Postretirement Benefits Plan [Member]      
Defined Benefit Plan Disclosure [Line Items]      
Defined Benefit Plan, Expected Future Benefit Payment, Next Twelve Months $ 106    
Defined Benefit Plan, Expected Future Benefit Payment, Year Two 94    
Defined Benefit Plan, Expected Future Benefit Payment, Year Three 83    
Defined Benefit Plan, Expected Future Benefit Payment, Year Four 73    
Defined Benefit Plan, Expected Future Benefit Payment, Year Five 64    
Defined Benefit Plan, Expected Future Benefit Payment, Five Fiscal Years Thereafter $ 213    
Other Postretirement Benefits Plan [Member] | US Pension Benefits      
Defined Benefit Plan Disclosure [Line Items]      
Defined Benefit Plan, Assumptions Used Calculating Benefit Obligation, Discount Rate 4.49% 4.67%  
Defined Benefit Plan, Assumptions Used Calculating Net Periodic Benefit Cost, Discount Rate 4.67% 1.94% 1.47%
Healthcare Cost Trend Rate Maximum   5.90%  
Healthcare Cost Trend Rate Minimum Percentage 5.70%    
Defined Benefit Plan, Ultimate Health Care Cost Trend Rate 4.50%    
v3.24.0.1
Benefit Plans Narrative (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Defined Benefit Plan Disclosure [Line Items]      
Defined Contribution Plan, Cost $ 20,100 $ 22,900 $ 24,800
Defined Benefit Plan, Plan with Accumulated Benefit Obligation in Excess of Plan Assets, Accumulated Benefit Obligation 126,500 111,700  
Defined Benefit Plan, Pension Plan with Accumulated Benefit Obligation in Excess of Plan Assets, Projected Benefit Obligation 137,500 121,600  
Defined Benefit Plan, Plan with Accumulated Benefit Obligation in Excess of Plan Assets, Plan Assets $ 28,200 $ 26,900  
Pension Plan [Member] | US Pension Benefits      
Defined Benefit Plan Disclosure [Line Items]      
Defined Benefit Plan, Assumptions Used Calculating Benefit Obligation, Discount Rate 4.68% 4.87%  
Defined Benefit Plan, Accumulated Benefit Obligation $ 108,500 $ 110,300  
Defined Benefit Plan, Plan Assets, Investment Policy and Strategy, Description Target asset allocation ranges for the U.S. pension plan include 40-60% in equity securities, 23-33% in fixed income securities, and 15-25% in other types of investments.    
Defined Benefit Plan, Expected Future Employer Contributions, Next Fiscal Year $ 27,300    
Defined Benefit Plan, Assumptions Used Calculating Net Periodic Benefit Cost, Discount Rate 4.87% 2.57% 2.22%
Pension Plan [Member] | Non-US Pension Benefits      
Defined Benefit Plan Disclosure [Line Items]      
Defined Benefit Plan, Assumptions Used Calculating Benefit Obligation, Discount Rate 2.07% 2.57%  
Defined Benefit Plan, Accumulated Benefit Obligation $ 775,100 $ 665,100  
Defined Benefit Plan, Plan Assets, Investment Policy and Strategy, Description International plan assets relate primarily to the Company’s Swiss plan with target allocations of 24-45% in equities, 35-55% in fixed income securities, and 15-25% in other types of investments.    
Defined Benefit Plan, Assumptions Used Calculating Net Periodic Benefit Cost, Discount Rate 2.57% 0.40% 0.63%
Other Postretirement Benefits Plan [Member] | US Pension Benefits      
Defined Benefit Plan Disclosure [Line Items]      
Defined Benefit Plan, Assumptions Used Calculating Benefit Obligation, Discount Rate 4.49% 4.67%  
Defined Benefit Plan, Assumptions Used Calculating Net Periodic Benefit Cost, Discount Rate 4.67% 1.94% 1.47%
Healthcare Cost Trend Rate Maximum   5.90%  
Defined Benefit Plan, Ultimate Health Care Cost Trend Rate 4.50%    
Healthcare Cost Trend Rate Minimum Percentage 5.70%    
Other Postretirement Benefits Plan [Member] | Non-US Pension Benefits      
Defined Benefit Plan Disclosure [Line Items]      
Defined Benefit Plan, Expected Future Employer Contributions, Next Fiscal Year $ 200    
v3.24.0.1
Taxes Summary of Earnings (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Income Tax Disclosure [Abstract]      
Earnings Before Taxes, Domestic $ 142,078 $ 144,107 $ 109,918
Earnings Before Taxes, Foreign 831,650 926,485 839,443
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest $ 973,728 $ 1,070,592 $ 949,361
v3.24.0.1
Taxes Summary of the provision for taxes (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Current Income Tax Expense (Benefit), Continuing Operations [Abstract]      
Current Federal Tax Expense (Benefit) $ 20,036 $ 363 $ 7,750
Current State and Local Tax Expense (Benefit) 8,946 4,893 3,670
Current Foreign Tax Expense (Benefit) 169,341 166,317 168,393
Current Income Tax Expense (Benefit) 198,323 171,573 179,813
Deferred Income Tax Expense (Benefit), Continuing Operations [Abstract]      
Deferred Federal Income Tax Expense (Benefit) (10,949) 9,710 (7,415)
Deferred State and Local Income Tax Expense (Benefit) (838) 1,282 (1,099)
Deferred Foreign Income Tax Expense (Benefit) (1,586) 15,525 9,077
Deferred Income Tax Expense (Benefit) (13,373) 26,517 563
Federal Income Tax Expense (Benefit), Continuing Operations 9,087 10,073 335
State and Local Income Tax Expense (Benefit), Continuing Operations 8,108 6,175 2,571
Foreign Income Tax Expense (Benefit), Continuing Operations 167,755 181,842 177,470
Provision for taxes $ 184,950 $ 198,090 $ 180,376
v3.24.0.1
Taxes Effective Tax Rate Reconciliation (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Income Tax Disclosure [Abstract]      
Effective Tax Rate Reconciliation, Excess Tax Benefits $ (13,674) $ (22,965) $ (22,843)
Income Tax Expense (Benefit), at Federal Statutory Income Tax Rate 204,483 224,825 199,365
State and Local Income Taxes 6,858 5,132 1,235
Foreign Income Tax Rate Differential (14,611) (3,055) 3,439
Other Adjustments 1,894 (5,847) (820)
Provision for taxes $ 184,950 $ 198,090 $ 180,376
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate 21.00% 21.00%  
v3.24.0.1
Taxes Tax Effects of Temporary Differences (Details) - USD ($)
$ in Thousands
Dec. 31, 2023
Dec. 31, 2022
Income Tax Disclosure [Abstract]    
Inventory $ 24,969 $ 26,401
Accrued and other liabilities 92,601 91,892
Accrued post-retirement benefit and pension costs 34,015 33,010
Net operating loss and tax credit carryforwards 43,036 37,797
Swiss tax reform intangible asset 55,767 49,642
Other 6,726 4,927
Deferred Tax Assets, Gross 257,114 243,669
Valuation Allowance (73,460) (62,615)
Non-current deferred tax assets, net 183,654 181,054
Inventory 12,095 8,053
Deferred Tax Liabilities, Right of Use Asset and Other Assets 26,510 28,297
Property, Plant and Equipment 83,326 76,867
Rainin Intangible Amortization 62,479 61,278
Deferred Tax Liabilities, Tax Deferred Expense, Compensation and Benefits, Pension 49,918 52,197
International earnings 19,641 27,357
Deferred Tax Liabilities, Unrealized Currency Transaction Gains 7,165 11,285
Deferred Tax Liabilities, Gross, Noncurrent 261,134 265,334
Net deferred tax (liability) asset $ (77,480) $ (84,280)
v3.24.0.1
Taxes Reconciliation of unrecognized tax benefits (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Income Tax Disclosure [Abstract]    
Beginning Unrecognized Tax Benefits $ 50,822 $ 46,432
Increases related to current tax positions 5,867 12,942
Unrecognized Tax Benefits, Decrease Resulting from Prior Period Tax Positions (2,641) (7,245)
Unrecognized Tax Benefits, Foreign Currency Translation (decreases) increases to prior year tax positions 4,177 (1,307)
Ending Unrecognized Tax Benefits $ 58,225 $ 50,822
v3.24.0.1
Taxes Narrative (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Income Tax Disclosure [Abstract]      
Effective Income Tax Rate Reconciliation, Percent 19.00% 18.50% 19.00%
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate 21.00% 21.00%  
US Federal Corporate Income Tax Rate 21.00%    
Unrecognized Tax Benefits that Would Impact Effective Tax Rate $ 58.2 $ 50.8  
Unrecognized Tax Benefits, Income Tax Penalties and Interest Accrued $ 10.9 $ 9.3  
v3.24.0.1
Other Charges (Income), Net Other Charges (Income), Net (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Business Combination, Contingent Consideration Arrangements, Change in Amount of Contingent Consideration, Liability $ 0 $ 0 $ 6,849
Other Nonoperating Income (Expense) 4,146 9,320 3,106
Impact of Adopting ASU 2017-07 ASC 715 Compensation Retirement Benefit (7,600) $ 16,900 $ 11,400
PendoTECH acquisition      
Business Combination, Acquisition Related Costs $ 3,400    
v3.24.0.1
Leases Lease Balance Sheet (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Jan. 01, 2019
Leases [Abstract]        
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration] Other non-current assets Other non-current assets   Other non-current assets
Operating Lease, Right-of-Use Asset $ 114,392 $ 114,321    
Operating Lease, Liability, Current $ 28,516 29,271    
Operating Lease, Liability, Noncurrent, Statement of Financial Position [Extensible Enumeration] Other non-current liabilities      
Operating Lease, Liability, Noncurrent $ 86,930 $ 86,888    
Operating Lease, Liability, Statement of Financial Position [Extensible Enumeration] Accounts Payable and Accrued Liabilities Accounts Payable and Accrued Liabilities   Accounts Payable and Accrued Liabilities
Operating Lease, Liability $ 115,446 $ 116,159    
Operating Lease, Right-of-Use Asset, Amortization Expense $ 34,400 $ 34,600 $ 33,700  
v3.24.0.1
Leases Lease Income Statement (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Leases [Abstract]      
Lease, Cost $ 37,849 $ 37,145 $ 36,137
Variable Lease, Cost 7,022 4,649 4,503
Short-term Lease, Cost 1,004 958 1,018
Operating Lease, Expense $ 45,875 $ 42,752 $ 41,658
Operating Lease, Weighted Average Remaining Lease Term 6 years 6 months 7 years 10 months 24 days 7 years 4 months 24 days
Operating Lease, Weighted Average Discount Rate, Percent 4.00% 2.90% 2.10%
Operating Lease, Right-of-Use Asset, Amortization Expense $ 34,400 $ 34,600 $ 33,700
v3.24.0.1
Leases Lease Maturity Analysis (Details) - USD ($)
$ in Thousands
Dec. 31, 2023
Dec. 31, 2022
Leases [Abstract]    
Lessee, Operating Lease, Liability, Payments, Due Next Twelve Months $ 33,065  
Lessee, Operating Lease, Liability, Payments, Due Year Two 24,444  
Lessee, Operating Lease, Liability, Payments, Due Year Three 18,113  
Finance Lease, Liability, Payments, Due Year Four 11,835  
Lessee, Operating Lease, Liability, Payments, Due Year Five 8,853  
Lessee, Operating Lease, Liability, Payments, Due after Year Five 35,908  
Lessee, Operating Lease, Liability, Payments, Due 132,218  
Lessee, Operating Lease, Liability, Undiscounted Excess Amount (16,772)  
Operating Lease, Liability $ 115,446 $ 116,159
v3.24.0.1
Leases Lease Narrative (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Jan. 01, 2019
Leases [Abstract]        
Operating Lease, Expense $ 45,875 $ 42,752 $ 41,658  
Change in lease liability cash flow 33,400 34,600 33,700  
Operating Lease, Payments 36,600 35,200 35,500  
Right-of-Use Asset Obtained in Exchange for Operating Lease Liability $ 34,500 $ 27,000 $ 46,400  
Operating Lease, Liability, Statement of Financial Position [Extensible Enumeration] Accounts Payable and Accrued Liabilities Accounts Payable and Accrued Liabilities   Accounts Payable and Accrued Liabilities
v3.24.0.1
Segment Reporting Segment (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Revenues $ 3,788,309 $ 3,919,709 $ 3,717,930
Revenue Transactions With Other Operating Segments 0 0 0
Net Sales 3,788,309 3,919,709 3,717,930
Total Segment Profit 1,151,896 1,192,459 1,057,811
Depreciation 48,951 46,784 44,982
Assets 3,355,555 3,492,395 3,326,798
Purchase of property, plant and equipment (105,323) (121,241) (107,580)
Goodwill 670,108 660,170 648,622
U.S. Operations Segment      
Revenues 1,403,919 1,444,460 1,287,983
Revenue Transactions With Other Operating Segments 137,192 156,884 155,987
Net Sales 1,541,111 1,601,344 1,443,970
Segment Profit 365,052 357,802 302,177
Depreciation 15,863 14,582 12,123
Assets 3,848,003 3,574,842 3,278,400
Purchase of property, plant and equipment (36,269) (55,464) (34,972)
Goodwill 526,392 524,470 508,942
Swiss Operations Segment      
Revenues 188,679 176,119 171,633
Revenue Transactions With Other Operating Segments 761,114 839,951 826,001
Net Sales 949,793 1,016,070 997,634
Segment Profit 281,481 309,844 301,142
Depreciation 7,017 6,644 6,557
Assets 3,554,911 2,968,539 2,700,965
Purchase of property, plant and equipment (8,030) (7,690) (7,856)
Goodwill 27,532 25,058 23,710
Western European Operations Segment      
Revenues 792,907 799,931 829,761
Revenue Transactions With Other Operating Segments 188,963 196,900 211,547
Net Sales 981,870 996,831 1,041,308
Segment Profit 178,673 174,352 172,265
Depreciation 5,351 4,970 5,264
Assets 1,533,297 1,314,332 1,566,819
Purchase of property, plant and equipment (5,052) (5,110) (11,014)
Goodwill 101,653 96,077 100,433
Chinese Operations Segment      
Revenues 718,818 841,526 771,651
Revenue Transactions With Other Operating Segments 278,027 308,164 291,779
Net Sales 996,845 1,149,690 1,063,430
Segment Profit 367,094 424,162 369,835
Depreciation 9,609 9,699 9,566
Assets 989,955 1,234,303 1,037,838
Purchase of property, plant and equipment (10,133) (12,418) (15,700)
Goodwill 621 641 710
Other Operations Segment      
Revenues 683,986 657,673 656,902
Revenue Transactions With Other Operating Segments 20,600 3,959 4,780
Net Sales 704,586 661,632 661,682
Segment Profit 106,238 90,322 100,028
Depreciation 4,297 4,176 3,819
Assets 408,200 388,639 365,182
Purchase of property, plant and equipment (12,380) (6,268) (5,652)
Goodwill 13,910 13,924 14,827
Eliminations and Corporate Segment      
Revenues 0 0
Revenue Transactions With Other Operating Segments (1,385,896) (1,505,858) (1,490,094)
Net Sales (1,385,896) (1,505,858) (1,490,094)
Segment Profit (146,642) (164,023) (187,636)
Depreciation 6,814 6,713 7,653
Assets (6,978,811) (5,988,260) (5,622,406)
Purchase of property, plant and equipment (33,459) (34,291) (32,386)
Goodwill $ 0 $ 0 $ 0
v3.24.0.1
Segment Reporting Reconciliation of Earnings Before Taxes (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Segment Reporting [Abstract]      
Amortization $ 72,213 $ 66,239 $ 63,075
Interest Expense 77,366 55,392 43,242
Restructuring Charges 32,735 9,556 5,239
Other Charges (Income), Net (4,146) (9,320) (3,106)
Total Segment Profit 1,151,896 1,192,459 1,057,811
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest $ 973,728 $ 1,070,592 $ 949,361
v3.24.0.1
Segment Reporting Revenues by Division (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Segment Sales Information      
Revenue from Contract with Customer, Excluding Assessed Tax $ 3,788,309 $ 3,919,709 $ 3,717,930
Revenues 3,788,309 3,919,709 3,717,930
Laboratory products and services [Member]      
Segment Sales Information      
Revenue from Contract with Customer, Excluding Assessed Tax 2,068,807    
Revenues   2,230,381 2,083,025
Industrial products and services [Member]      
Segment Sales Information      
Revenue from Contract with Customer, Excluding Assessed Tax 1,490,445    
Revenues   1,510,554 1,446,544
Retail products and services [Member]      
Segment Sales Information      
Revenue from Contract with Customer, Excluding Assessed Tax $ 229,057    
Revenues   $ 178,774 $ 188,361
v3.24.0.1
Segment Reporting Sales and PPE by Destination (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Revenues from External Customers and Long-Lived Assets      
Net Sales $ 3,788,309 $ 3,919,709 $ 3,717,930
Total Segments Property, Plant and Equipment, Net 803,374 778,600  
Revenue from Contract with Customer, Excluding Assessed Tax 3,788,309 3,919,709 3,717,930
UNITED STATES      
Revenues from External Customers and Long-Lived Assets      
Net Sales 1,346,468 1,363,335 1,217,114
Total Segments Property, Plant and Equipment, Net 224,696 228,997  
OTHER AMERICAS      
Revenues from External Customers and Long-Lived Assets      
Net Sales 221,742 219,158 202,718
Total Segments Property, Plant and Equipment, Net 13,152 4,155  
Americas [Member]      
Revenues from External Customers and Long-Lived Assets      
Net Sales   1,582,493  
Revenue from Contract with Customer, Excluding Assessed Tax 1,568,210    
TOTAL AMERICAS      
Revenues from External Customers and Long-Lived Assets      
Net Sales     1,419,832
Total Segments Property, Plant and Equipment, Net 237,848 233,152  
GERMANY      
Revenues from External Customers and Long-Lived Assets      
Net Sales 221,482 219,813 229,341
Total Segments Property, Plant and Equipment, Net 36,123 39,159  
FRANCE      
Revenues from External Customers and Long-Lived Assets      
Net Sales 139,304 147,430 152,225
Total Segments Property, Plant and Equipment, Net 22,684 8,027  
UNITED KINGDOM      
Revenues from External Customers and Long-Lived Assets      
Net Sales 79,455 85,382 90,431
Total Segments Property, Plant and Equipment, Net 30,651 30,828  
SWITZERLAND      
Revenues from External Customers and Long-Lived Assets      
Net Sales 91,564 80,891 82,381
Total Segments Property, Plant and Equipment, Net 332,136 300,155  
OTHER EUROPE      
Revenues from External Customers and Long-Lived Assets      
Net Sales 483,693 480,844 508,583
Total Segments Property, Plant and Equipment, Net 19,285 35,914  
Europe [Member]      
Revenues from External Customers and Long-Lived Assets      
Net Sales   1,014,360  
Revenue from Contract with Customer, Excluding Assessed Tax 1,015,498    
TOTAL EUROPE      
Revenues from External Customers and Long-Lived Assets      
Net Sales     1,062,961
Total Segments Property, Plant and Equipment, Net 440,879 414,083  
CHINA      
Revenues from External Customers and Long-Lived Assets      
Net Sales 707,592 823,842 754,002
Total Segments Property, Plant and Equipment, Net 87,972 90,343  
REST OF WORLD      
Revenues from External Customers and Long-Lived Assets      
Net Sales 497,009 499,014 481,135
Total Segments Property, Plant and Equipment, Net 36,675 41,022  
Asia [Member]      
Revenues from External Customers and Long-Lived Assets      
Net Sales   1,322,856  
Revenue from Contract with Customer, Excluding Assessed Tax 1,204,601    
TOTAL ASIA REST OF WORLD      
Revenues from External Customers and Long-Lived Assets      
Net Sales     $ 1,235,137
Total Segments Property, Plant and Equipment, Net $ 124,647 $ 131,365  
v3.24.0.1
Segment Reporting Textuals (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Operating Lease, Right-of-Use Asset $ 114,392 $ 114,321  
Restructuring Charges $ 32,735 $ 9,556 $ 5,239
Customer Concentration Risk | Revenue Benchmark | End Customers      
Maximum Customer Percentage 1.00%    
v3.24.0.1
Schedule II Valuation and Qualifying Accounts Schedule II (Details) - Valuation Allowance of Deferred Tax Assets - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]      
Valuation Allowances and Reserves, Balance, Beginning $ 62,615 $ 51,126 $ 52,388
Valuation Allowances and Reserves, Charged to Cost and Expense 7,548 6,103 2,058
Valuation Allowances and Reserves, Charged to Other Accounts 4,149 6,284 0
SEC Schedule, 12-09, Valuation Allowances and Reserves, Deduction 852 898 3,320
Valuation Allowances and Reserves, Balance, Ending $ 73,460 $ 62,615 $ 51,126