METTLER TOLEDO INTERNATIONAL INC/, 10-K filed on 2/7/2025
Annual Report
v3.25.0.1
Document and Entity Information Document - USD ($)
$ / shares in Units, $ in Billions
 12 Months Ended
Dec. 31, 2024
Jan. 22, 2025
Jun. 30, 2024
Dec. 31, 2023
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, 2024      
Entity Central Index Key 0001037646      
Current Fiscal Year End Date --12-31      
Entity File Number 001-13595      
Document Fiscal Year Focus 2024      
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   20,916,459    
Common Stock, Par or Stated Value Per Share $ 0.01     $ 0.01
Entity Public Float     $ 29.7  
ICFR Auditor Attestation Flag true      
Document Financial Statement Error Correction [Flag] false      
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      
v3.25.0.1
Audit Information
 12 Months Ended
Dec. 31, 2024
Auditor Information [Abstract]  
Auditor Firm ID 238
Auditor Name PricewaterhouseCoopers LLP
Auditor Location Columbus, Ohio
v3.25.0.1
Consolidated Statements of Operations - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Revenues $ 3,872,361 $ 3,788,309 $ 3,919,709
Gross profit 2,325,583 2,241,286 2,308,042
Research and development 189,357 185,284 177,122
Selling, general and administrative 936,303 904,106 938,461
Amortization 72,869 72,213 66,239
Interest Expense 74,631 77,366 55,392
Restructuring Charges 19,771 32,735 9,556
Other Charges (Income), Net (4,571) (4,146) (9,320)
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest (1,037,223) (973,728) (1,070,592)
Provision for taxes 174,083 184,950 198,090
Net earnings $ 863,140 $ 788,778 $ 872,502
Basic earnings per common share:      
Net earnings $ 40.67 $ 36.10 $ 38.79
Weighted average number of common shares 21,221,839 21,848,122 22,491,790
Diluted earnings per common share:      
Net earnings $ 40.48 $ 35.90 $ 38.41
Weighted average number of common and common equivalent shares 21,320,641 21,971,528 22,718,290
Product [Member]      
Revenues $ 2,930,228 $ 2,906,661 $ 3,118,721
Cost of Sales 1,110,886 1,144,167 1,227,230
Service [Member]      
Revenues 942,133 881,648 800,988
Cost of Sales $ 435,892 $ 402,856 $ 384,437
v3.25.0.1
Statement of Comprehensive Income - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Statement of Comprehensive Income [Abstract]      
Net earnings $ 863,140 $ 788,778 $ 872,502
Foreign currency translation adjustment (16,273) (34,366) (63,298)
Unrealized gains (losses) on cash flow hedging arrangements:      
Unrealized gains (losses) 19,836 (12,372) 10,029
Effective portion of (gains) losses included in net earnings (23,876) 8,236 (5,775)
Defined benefit pension and post-retirement plans:      
Net actuarial gains (losses) (26,699) (48,736) 70,672
Plan amendments and prior service cost (70) (64) (9)
Amortization of actuarial (gains) losses and plan amendments and prior service cost 9,803 6,482 13,278
Impact of foreign currency 11,236 (11,762) 3,094
Total other comprehensive income (loss), net of tax (26,043) (92,582) 27,991
Total other comprehensive income (loss), net of tax $ 837,097 $ 696,196 $ 900,493
v3.25.0.1
Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2024
Dec. 31, 2023
Current assets:    
Cash and cash equivalents $ 59,362 $ 69,807
Trade accounts receivable, less allowances of $17,009 in 2019 and $15,469 in 2018 687,112 663,893
Inventories 342,274 385,865
Other current assets and prepaid expenses 105,158 110,638
Total current assets 1,193,906 1,230,203
Property, plant and equipment, Net 770,280 803,374
Goodwill 668,914 670,108
Other intangible assets, net 257,143 285,429
Deferred tax assets, net 34,586 31,199
Other non-current assets 315,170 335,242
Total assets 3,239,999 3,355,555
Current liabilities:    
Trade accounts payable 215,843 210,411
Accrued and other liabilities 187,701 196,138
Accrued compensation and related items 184,532 160,308
Contract with Customer, Liability 204,166 202,022
Taxes payable 193,328 219,984
Short-term borrowings and current maturities of long-term debt 182,623 192,219
Total current liabilities 1,168,193 1,181,082
Long-term debt 1,831,265 1,888,620
Non-current deferred tax liabilities 103,953 108,679
Other non-current liabilities 263,478 327,112
Total liabilities 3,366,889 3,505,493
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 897,025 871,110
Treasury stock at cost (20,660,694 and 19,864,048 shares at December 31, 2019 and 2018, respectively) (9,049,925) (8,212,437)
Retained earnings 8,371,420 7,510,756
Accumulated Other Comprehensive Income (Loss), Net of Tax (345,858) (319,815)
Total shareholders’ equity (126,890) (149,938)
Total liabilities and shareholders’ equity $ 3,239,999 $ 3,355,555
v3.25.0.1
Consolidated Balance Sheets (Parentheticals) - USD ($)
$ in Thousands
Dec. 31, 2024
Dec. 31, 2023
Allowance For Bad Debt $ 16,657 $ 20,103
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 20,949,461 21,526,172
Treasury Stock, Common, Shares 23,836,550 23,259,839
v3.25.0.1
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, 2021 $ 171,421 $ 448 $ 825,974 $ 5,859,272 $ (255,224) $ (6,259,049)
Beginning balance, shares at Dec. 31, 2021   22,843,103        
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        
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      
Exercise of stock options and restricted stock units, shares 68,428 68,428        
Exercise of stock options and restricted stock units, Value $ (23,719)     (2,476)   (20,259)
Repurchases of Common Stock, Shares (645,139) (645,139)        
Repurchases of Common Stock, Value $ (849,997)         (849,997)
Excise tax on net repurchases of common stock           7,750
APIC, Share-based Payment Arrangement, Other, Increase for Cost Recognition 19,979   19,979      
Net earnings 863,140     863,140    
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent (26,043)       (26,043)  
Ending balance at Dec. 31, 2024 $ (126,890) $ 448 897,025 $ 8,371,420 $ (345,858) $ (9,049,925)
Ending balance, shares at Dec. 31, 2024 20,949,461 20,949,461        
APIC, Share-based Payment Arrangement, Restricted Stock Unit, Increase for Cost Recognition     $ 5,936      
v3.25.0.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Cash flows from operating activities:      
Net earnings $ 863,140 $ 788,778 $ 872,502
Adjustments to reconcile net earnings to net cash provided by operating activities:      
Depreciation 50,352 48,951 46,784
Amortization 72,869 72,213 66,239
Deferred tax (benefit) provision (5,216) (13,373) 26,517
Share-based compensation 19,979 17,928 19,661
Other (22,982) 0 0
Increase (decrease) in cash resulting from changes in:      
Trade accounts receivable, net (52,999) 50,296 (83,417)
Inventories 24,127 71,021 (43,392)
Other current assets (1,015) 20,666 (16,263)
Trade accounts payable 12,083 (40,554) (13,826)
Taxes payable (11,931) 12,260 55,859
Accruals and other 19,939 (62,312) (71,597)
Net Cash Provided by (Used in) Operating Activities 968,346 965,874 859,067
Cash flows from investing activities:      
Proceeds from sale of property, plant and equipment 1,631 835 399
Purchase of property, plant and equipment (103,898) (105,323) (121,241)
Proceeds from government funding 0 6,094 29,670
Acquisitions (10,091) (5,811) (37,951)
Other investing activities (7,104) (27,489) (10,272)
Net cash used in investing activities (119,462) (131,694) (139,395)
Cash flows from financing activities:      
Proceeds from borrowings 2,156,565 2,126,797 2,307,256
Repayments of borrowings (2,175,291) (2,097,023) (1,947,398)
Proceeds from exercise of stock options 23,719 19,234 33,216
Repurchases of common stock (849,997) (900,000) (1,099,998)
Payments of Excise Tax on Repurchases of Common Stock (8,089) 0 0
Acquisition contingent consideration paid 0 (7,767) (7,912)
Other financing activities (2,884) (826) (1,203)
Net cash provided by (used in) financing activities (855,977) (859,585) (716,039)
Effect of Exchange Rate on Cash, Cash Equivalents, Restricted Cash, and Restricted Cash Equivalents, Continuing Operations (3,352) (754) (6,231)
Net increase (decrease) in cash and cash equivalents (10,445) (26,159) (2,598)
Cash and cash equivalents:      
Cash and Cash Equivalents, at Carrying Value, Beginning 69,807 95,966 98,564
Cash and Cash Equivalents, at Carrying Value, End 59,362 69,807 95,966
Supplemental disclosures of cash flow information:      
Interest 75,937 75,618 52,314
Taxes $ 209,374 $ 178,255 $ 114,038
v3.25.0.1
Statement of Financial Position, Classified
 12 Months Ended
Dec. 31, 2024
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, 2024$73,460 $3,312 $37 $3,638 $73,171 
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 
_______________________________________
Note (A)
Amounts in 2024 primarily relate to changes in foreign currency. Amounts in 2023 primarily relate to changes in foreign currency.
Note (B)
Amounts in 2024 primarily relate to changes in foreign currency state tax net operating losses and credits. The amounts in 2023 primarily relate to changes in the state tax net operating losses and credits. Amounts in 2022 primarily relate to changes in foreign currency.
v3.25.0.1
Business Description and Basis of Presentation
 12 Months Ended
Dec. 31, 2024
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 conflict in the Middle East, 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.
v3.25.0.1
Summary of Significant Accounting Policies
 12 Months Ended
Dec. 31, 2024
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. We have received the maximum allowable funding of $35.8 million related to the agreement during prior years, 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 or 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 98,803, 123,406, and 226,500 common equivalent shares in the calculation of diluted weighted average number of common shares for the years ended December 31, 2024, 2023, and 2022, respectively, relating to outstanding stock options and restricted stock units.
Outstanding options and restricted stock units to purchase or receive 61,040, 54,840, and 42,855 shares of common stock for the years ended December 31, 2024, 2023, and 2022, 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 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 adopted these annual disclosure requirements on a retrospective basis in 2024. See Note 18 for the required reportable segments disclosures.
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.
In November 2024, the FASB issued ASU 2024-03: Disaggregation of Income Statement Expenses, which requires disclosures about the nature of expenses presented on the face of the income statement. The Company will adopt the annual disclosure requirements in 2027 and is currently evaluating the impact of this guidance on the consolidated financial statements.
v3.25.0.1
Revenue from Contracts with Customers
 12 Months Ended
Dec. 31, 2024
Revenue from Contract with Customer [Abstract]  
Revenue from Contract with Customer [Text Block] REVENUE
The Company disaggregates revenue from contracts with customers by product, service, timing of revenue recognition, and geography. A summary by the Company’s reportable segments follows for the years ended December 31:
Twelve months ended December 31, 2024U.S. OperationsSwiss OperationsWestern European OperationsChinese OperationsOther OperationsTotal
Product Revenue$1,042,479 $174,484 $593,502 $565,118 $554,645 $2,930,228 
Service Revenue:
Point in time
290,266 31,746 176,459 45,587 140,162 684,220 
Over time
96,757 12,350 88,041 17,742 43,023 257,913 
Total$1,429,502 $218,580 $858,002 $628,447 $737,830 $3,872,361 
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 
The Company's global revenue mix by product category for the year ended December 31, 2024 is laboratory (56% of sales), industrial (39% of sales), and retail (5% of sales). The Company’s product revenue by reportable segment is proportionately similar to the Company’s global mix 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:
202420232022
Laboratory$2,185,979 $2,068,807 $2,230,381 
Industrial1,490,026 1,490,445 1,510,554 
Retail196,356 229,057 178,774 
Total net sales$3,872,361 $3,788,309 $3,919,709 
A breakdown of net sales to external customers by geographic customer destination, net for the year ended December 31 follows:
 202420232022
Americas$1,606,292 $1,568,210 $1,582,493 
Europe1,100,399 1,015,498 1,014,360 
Asia/Rest of World1,165,670 1,204,601 1,322,856 
Total$3,872,361 $3,788,309 $3,919,709 
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, 2024 and 2023 was $32.6 million and $35.7 million, respectively, and is included within accounts receivable. Deferred revenue and customer prepayments are recorded when cash payments are received or due in advance of the performance obligation being satisfied. Deferred revenue primarily includes prepaid service contracts, as well as deferred installation.
Changes in the components of deferred revenue and customer prepayments during the period are as follows:
202420232022
Beginning balances as of January 1$202,022 $192,759 $192,648 
Customer prepayments/deferred revenue656,890 670,178 731,482 
Revenue recognized(643,067)(663,165)(720,362)
Foreign currency translation(11,679)2,250 (11,009)
Ending balance as of December 31$204,166 $202,022 $192,759 
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.
v3.25.0.1
Acquisitions
 12 Months Ended
Dec. 31, 2024
Business Combinations [Abstract]  
Business Combination Disclosure [Text Block] ACQUISITIONS
In 2024, the Company incurred acquisition payments totaling $10.1 million. The Company recorded $2.5 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 $5.9 million.
In 2023 and 2022, the Company also incurred additional acquisition payments totaling $5.8 million and $38.0 million, respectively, associated with other immaterial 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. 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.
The Company paid $10.0 million for contingent consideration in both 2022 and 2023. In 2022, $7.9 million is included in financing activities and $2.1 million is included in operating activities for the amount not accrued at the acquisition date on the Consolidated Statement of Cash Flows. In 2023, the final contingent consideration payment was made relating to the PendoTECH acquisition of which $5.6 million is included in financing activities for the amount accrued at the acquisition date and $4.4 million is included in operating activities for the amount not accrued at the acquisition date on the Consolidated Statement of Cash Flows in accordance with U.S. GAAP.
v3.25.0.1
Inventories
 12 Months Ended
Dec. 31, 2024
INVENTORIES [Abstract]  
Inventory Disclosure INVENTORIES
Inventories consisted of the following at December 31:
20242023
Raw materials and parts$161,416 $180,352 
Work-in-progress69,488 81,181 
Finished goods111,370 124,332 
Total inventory$342,274 $385,865 
v3.25.0.1
Financial Instruments
 12 Months Ended
Dec. 31, 2024
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
June 2024$50 million1.15%June 2027
The Company amended all active cross currency swap agreements in 2023 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, 2024 and 2023 and are disclosed in Note 7 to the consolidated financial statements. A derivative gain of $5.5 million based upon interest rates at December 31, 2024 is expected to be reclassified from other comprehensive income (loss) to earnings in the next 12 months. Through December 31, 2024, 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, 2024 and 2023, as disclosed in Note 7 to the consolidated financial statements. The Company recognized in other charges (income), net a net gain of $2.0 million and net losses of $19.7 million and $21.6 million during the years ended December 31, 2024, 2023, and 2022, respectively, which offset the related net transaction gains (losses) associated with these contracts. At December 31, 2024 and 2023, these contracts had a notional value of $788.6 million and $793.9 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.
v3.25.0.1
Fair Value Measurements
 12 Months Ended
Dec. 31, 2024
Fair Value Measurements [Abstract]  
Fair Value Disclosures FAIR VALUE MEASUREMENTS
At December 31, 2024 and 2023, the Company had derivative assets totaling $9.2 million and $8.3 million, respectively, and derivative liabilities totaling $8.5 million and $25.2 million, respectively. The Company has limited involvement with derivative financial instruments and therefore does not present all the required disclosures in tabular format. The fair values of the 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, 2024 and 2023.
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, 2024 and 2023. The Company does not have any assets or liabilities which are categorized as Level 1.
 20242023Balance Sheet Location
Foreign currency forward contracts not designated as hedging instruments$7,949 $8,330 Other current assets and prepaid expenses
Cash flow hedges:
Cross currency swap agreement855 — Other current assets and prepaid expenses
Cross currency swap agreement398 — Other non-current assets
Total derivative assets$9,202 $8,330 
Foreign currency forward contracts not designated as hedging instruments$4,078 $8,245 Accrued and other liabilities
Cash flow hedges:
Cross currency swap agreements— 2,678 Accrued and other liabilities
Cross currency swap agreements4,463 14,270 Other non-current liabilities
Total derivative liabilities$8,541 $25,193 
The Company had $3.7 million and $4.0 million of cash equivalents at December 31, 2024 and 2023, respectively, the fair value of which is determined using Level 2 inputs through quoted and corroborated prices in active markets. The fair value of cash equivalents approximates cost.
The fair value of the Company’s debt is less than the carrying value by approximately $202.6 million as of December 31, 2024. 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.
During the period ended December 31, 2022, $10.0 million of contingent consideration was paid relating to the PendoTECH acquisition of which $7.9 million is included in financing activities and $2.1 million is included in operating activities for the amount not accrued at the acquisition date on the Consolidated Statement of Cash Flows in accordance with U.S. GAAP.
v3.25.0.1
Property, Plant and Equipment, Net
 12 Months Ended
Dec. 31, 2024
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:
20242023
Land$61,693 $64,870 
Building and leasehold improvements404,699 407,836 
Machinery and equipment511,411 527,038 
Computer software489,387 507,464 
Property, plant, and equipment, gross1,467,190 1,507,208 
Less accumulated depreciation and amortization(696,910)(703,834)
Property, plant, and equipment, net$770,280 $803,374 
v3.25.0.1
Goodwill and Other Intangible Assets
 12 Months Ended
Dec. 31, 2024
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:
20242023
Balance at beginning of year$670,108 $660,170 
Goodwill acquired5,897 2,810 
Goodwill disposed(175)— 
Foreign currency translation(6,916)7,128 
Balance at year end$668,914 $670,108 
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, 2024. 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:
 20242023
Gross
Amount		Accumulated
Amortization		Intangibles, NetGross
Amount		Accumulated
Amortization		Intangibles, Net
Customer relationships$289,178 $(116,812)$172,366 $294,180 $(107,665)$186,515 
Proven technology and patents123,971 (80,634)43,337 129,227 (75,014)54,213 
Tradenames (finite life)7,853 (5,308)2,545 7,908 (4,535)3,373 
Tradenames (indefinite life)35,088 — 35,088 36,320 — 36,320 
Other12,426 (8,619)3,807 13,236 (8,228)5,008 
 $468,516 $(211,373)$257,143 $480,871 $(195,442)$285,429 
The Company recognized amortization expense associated with the above intangible assets of $27.1 million, $27.6 million, and $26.5 million for the years ended December 31, 2024, 2023, and 2022, respectively. The annual aggregate amortization expense based on the current balance of other intangible assets is estimated at $26.0 million for 2025, $22.0 million for 2026, $20.7 million for 2027, $19.4 million for 2028, and $17.6 million for 2029. 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 $25.9 million, $20.1 million after tax, $26.4 million, $20.5 million after tax, and $25.5 million, $19.8 million after tax, for the years ended December 31, 2024, 2023, and 2022, 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 $45.6 million, $44.4 million, and $39.6 million for the years ended December 31, 2024, 2023, and 2022, respectively.
v3.25.0.1
Debt
 12 Months Ended
Dec. 31, 2024
Debt Disclosure [Abstract]  
Debt Disclosure DEBT
Debt consisted of the following at December 31:
20242023
3.84% $125 million 10-year Senior Notes due September 19, 2024— 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, 2033150,000 150,000 
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, 2030129,840 137,966 
1.30% EUR 135 million 15-year Senior Notes due November 6, 2034140,227 149,003 
1.06% EUR 125 million 15-year Senior Notes due March 19, 2036129,840 137,966 
Senior Notes debt issuance costs, net(4,260)(4,019)
Total Senior Notes1,220,647 1,370,916 
$1.35 billion Credit Agreement, interest at benchmark plus 87.5 basis points(1)(2)
730,203 638,445 
Other local arrangements63,038 71,478 
Total debt2,013,888 2,080,839 
Less: current portion(182,623)(192,219)
Total long-term debt$1,831,265 $1,888,620 
(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, 2024, the interest payments associated with 73% of the Company’s debt are fixed obligations. The Company’s weighted average interest rate was 3.6% for both years ended December 31, 2024 and 2023.
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 (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 has several events of default, with customary grace periods as applicable. The Company was in compliance with its covenants at December 31, 2024.
Total issuance costs of approximately $4.3 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 January 2025, the Company entered into an agreement to issue and sell EUR 100 million 10 1/2-year Senior Notes with a fixed interest rate of 3.8% (3.8% Euro Senior Notes) in a private placement, which will mature in July 2035. The 3.8% Euro Senior Notes are unsecured obligations of the Company and the terms are consistent with the previous Notes as described above. The Company used the proceeds from the sale of the notes to refinance existing indebtedness and for other general corporate purposes.
In December 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.
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 gain of $25.0 million, an unrealized loss of $12.9 million, and an unrealized gain of $24.6 million for the years ended December 31, 2024, 2023, and 2022, respectively. The Company has an unrealized gain of $42.3 million associated with these net investment hedges recorded in accumulated other comprehensive income (loss) as of December 31, 2024.
Credit Agreement
On May 30, 2024, the Company entered into a $1.35 billion Credit Agreement (the Credit Agreement), which amended its $1.25 billion Amended and Restated Credit Agreement (the Prior Credit Agreement). As of December 31, 2024, the Company had $615.3 million of additional borrowings available under its Credit Agreement.
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 May 30, 2029. It is a revolving credit facility and is not subject to any scheduled principal payments prior to maturity. The obligations under the Credit Agreement are unsecured.
Borrowings under the Credit Agreement bear interest at current market rates plus a margin based on the Company’s consolidated leverage ratio. The Company must also pay facility fees that are tied to its leverage ratio. The Credit Agreement contains covenants that are similar to those contained in the Prior Credit Agreement, with which the Company was in compliance as of December 31, 2024. The Company is required to maintain (i) a ratio of net funded indebtedness to EBITDA of 3.5 to 1.0 or less except in certain circumstances and (ii) an interest coverage ratio of 3.0 to 1.0 or greater. The Credit Agreement also places certain limitations on the Company, including limiting the ability to incur liens or indebtedness at a subsidiary level. In addition, the Credit Agreement has several events of default, with customary grace periods as applicable. The Company incurred approximately $0.2 million of debt extinguishment costs during 2024 related to the Prior Credit Agreement. The Company capitalized $2.0 million in financing fees during 2024 associated with the Credit Agreement, which will be amortized to interest expense through 2029.
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 2024.
v3.25.0.1
Shareholders' Equity
 12 Months Ended
Dec. 31, 2024
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, 2024, 3,387,431 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 $1.7 billion of remaining availability as of December 31, 2024. The share repurchases are expected to be funded from cash generated from operating activities, borrowings, and cash balances. Repurchases will be made through open market transactions, and the amount and timing of purchases will depend on business and market conditions, the stock price, trading restrictions, the level of acquisition activity, and other factors.
The Company has purchased 32.4 million of common shares since the inception of the program in 2004 through December 31, 2024, at a total cost of $9.8 billion. The Company spent $850.0 million, $900 million, and $1.1 billion during 2024, 2023, and 2022, respectively, on the repurchase of 645,139 shares, 691,913 shares, and 838,010 shares at an average price per share of $1,317.52, $1,300.72, and $1,312.61, respectively. The Company reissued 68,428 shares, 79,076 shares, and 133,916 shares held in treasury for the exercise of stock options and restricted stock units during 2024, 2023, and 2022, respectively. In addition, we incurred $7.8 million and $8.1 million of excise tax during the years ended December 31, 2024 and 2023, respectively, related to the Inflation Reduction Act, which is reflected as a reduction in shareholders' equity in our consolidated financial statements.
Accumulated Other Comprehensive Income (Loss)
The following table presents changes in accumulated other comprehensive income by component for the periods ended December 31, 2024, 2023, and 2022:
Currency Translation Adjustment, Net of TaxNet Unrealized
Gain (Loss) on
Cash Flow Hedging Arrangements,
Net of Tax		Pension and Post-Retirement Benefit Related Items,
Net of Tax		Total
Balance at December 31, 2021$(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)
Other comprehensive income (loss), net of tax:
Net unrealized actuarial gains (loss), prior service cost, and plan amendments— — (26,769)(26,769)
Net unrealized gains (loss) on cash flow hedging arrangements
— 19,836 — 19,836 
Foreign currency translation adjustment
(16,273)— 11,236 (5,037)
Amounts recognized from accumulated other comprehensive income (loss), net of tax
— (23,876)9,803 (14,073)
Net change in other comprehensive income (loss), net of tax
(16,273)(4,040)(5,730)(26,043)
Balance at December 31, 2024$(133,503)$(3,920)$(208,435)$(345,858)
The following table presents amounts recognized from accumulated other comprehensive income (loss) during the years ended December 31, 2024, 2023, and 2022:
202420232022Location of Amounts Recognized in Earnings
Effective portion of losses (gains) on cash flow hedging arrangements:
Interest rate swap agreements
$— $— $352 Interest expense
Cross currency swap
(29,476)10,168 (7,454)(a)
Total before taxes(29,476)10,168 (7,102)
Provision for taxes(5,600)1,932 (1,327)Provision for taxes
Total, net of taxes$(23,876)$8,236 $(5,775)
Recognition of defined benefit pension and post-retirement items:
Recognition of actuarial losses, plan amendments, prior service cost, and settlement charge before taxes
$12,371 $8,240 $16,896 (b)
Provision for taxes2,568 1,758 3,618 Provision for taxes
Total, net of taxes$9,803 $6,482 $13,278 
(a)The cross currency swap reflects an unrealized gain of $18.1 million and unrealized loss of $21.1 million and unrealized gain of $2.7 million recorded in other charges (income) during the years ended December 31, 2024, 2023, and 2022, 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 $11.4 million, $10.9 million, and $4.8 million recorded in interest expense during the years ended December 31, 2024, 2023, and 2022, 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.
v3.25.0.1
Equity Incentive Plan
 12 Months Ended
Dec. 31, 2024
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, 2023 through December 31, 2024:
Number of
Options		Weighted Average
Exercise Price		Aggregate Intrinsic
Value (in millions)
Outstanding at December 31, 2023259,958 $743.30 $127.2 
Granted17,170 1,260.97 
Exercised(59,443)382.69 
Forfeited(372)1,225.87 
Expired(36)1,484.40 
Outstanding at December 31, 2024217,277 $881.92 $79.6 
Options exercisable at December 31, 2024156,503 $765.33 $74.7 
The following table details the weighted average remaining contractual life of options outstanding at December 31, 2024 by range of exercise prices:
Number of Options
Outstanding		Weighted Average
Exercise Price		Remaining Contractual
Life of Options
Outstanding		Options
Exercisable
85,762 $556.79 2.8585,762 
53,015 $903.76 5.3447,021 
78,500 $1,222.38 8.4123,720 
217,277  5.46156,503 
As of the date granted, the weighted average grant-date fair value of the options granted during the years ended December 31, 2024, 2023, and 2022 was $494.81, $400.30, and $447.52, respectively.
Such weighted average grant-date fair value was determined using the following assumptions:
202420232022
Risk-free interest rate4.31 %4.64 %4.35 %
Expected life in years6.86.76.4
Expected volatility28 %27 %26 %
Expected dividend yield— — — 
The total intrinsic value of options exercised during the years ended December 31, 2024, 2023, and 2022 was approximately $62.9 million, $68.7 million, and $121.3 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 years ended December 31, 2024, 2023, and 2022 was $8.4 million, $6.0 million, and $7.8 million, respectively.
The following table summarizes all restricted stock unit and performance share unit activity from December 31, 2023 through December 31, 2024:
Number of Restricted
Stock Units		Aggregate Intrinsic Value (in millions)Number of Performance Share UnitsAggregate Intrinsic Value (in millions)
Outstanding at December 31, 202326,739 $32.410,411 $12.6
Granted9,649  3,149 
Adjustment for performance results achieved(1)
— (3,047)
Vested(8,889) (98)
Forfeited(2,071) — 
Outstanding at December 31, 202425,428 $31.110,415 $12.7
(1) 2020 performance share units vested in the first quarter 2024.
The weighted average grant-date fair value of the restricted stock units granted during the years ended 2024, 2023, and 2022 was $1,260.96, $1,029.48, and $1,230.18 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 $12.2 million for 2024, $12.8 million for 2023, and $10.8 million for 2022 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, 2024, 2023, and 2022 was approximately $8.7 million, $8.6 million, and $8.2 million, respectively. Approximately $8.3 million, $8.8 million, and $7.9 million of compensation expense was recognized during the years ended December 31, 2024, 2023, and 2022, respectively.
The Company granted performance share units with a market condition during 2024, 2023, and 2022. 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 2024, the market conditions for the 2021 performance share units were not met. Accordingly, in January 2025, nothing vested and there was no payout. Performance share unit awards were valued using a Monte Carlo simulation based on the following assumptions:
202420232022
Risk-free interest rate4.24 %4.71 %4.58 %
Expected life in years333
Expected volatility28 %27 %26 %
Expected dividend yield— — — 
As of the date granted, the fair value of the performance share units granted was $1,153.99 for 2024, $1,103.23 for 2023, and $1,357.26 for 2022. The total fair value of the performance share units on the date of the grant was $3.6 million, $3.3 million, and $3.2 million for 2024, 2023, and 2022, 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, 2024, 2023, and 2022 was $3.3 million, $3.1 million, and $4.0 million, respectively.
At December 31, 2024, a total of 2,841,580 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, 2024, the unrecorded deferred share-based compensation balance related to stock options, restricted stock units, and performance share units was $35.7 million and will be recognized using a straight-line method over an estimated weighted average amortization period of 2.0 years.
v3.25.0.1
Benefit Plans
 12 Months Ended
Dec. 31, 2024
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 $18.7 million, $20.1 million, and $22.9 million for the years ended December 31, 2024, 2023, and 2022, 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, 2024 and 2023:
 U.S. Pension BenefitsNon-U.S. Pension BenefitsOther BenefitsTotal
 20242023202420232024202320242023
Change in benefit obligation:      
Benefit obligation at beginning of year
$108,546 $110,293 $917,321 $785,295 $614 $670 $1,026,481 $896,258 
Service cost, gross1,587 1,155 35,403 33,159 — — 36,990 34,314 
Interest cost4,766 5,023 17,792 19,991 26 28 22,584 25,042 
Actuarial losses (gains)(6,473)552 69,564 65,734 13 372 63,104 66,658 
Plan amendments and other— — 101 — — — 101 — 
Benefits paid(8,545)(8,477)(53,103)(53,164)(132)(456)(61,780)(62,097)
Impact of foreign currency— — (62,209)66,306 — — (62,209)66,306 
Benefit obligation at end of year
$99,881 $108,546 $924,869 $917,321 $521 $614 $1,025,271 $1,026,481 
Change in plan assets:      
Fair value of plan assets at beginning of year
$86,061 $87,341 $1,010,177 $894,865 $— $— $1,096,238 $982,206 
Actual return on plan assets7,788 7,083 64,883 38,133 — — 72,671 45,216 
Employer contributions5,216 114 26,088 26,414 132 456 31,436 26,984 
Plan participants’ contributions
— — 19,287 19,214 — — 19,287 19,214 
Benefits paid(8,545)(8,477)(53,103)(53,164)(132)(456)(61,780)(62,097)
Impact of foreign currency— — (69,903)84,715 — — (69,903)84,715 
Fair value of plan assets at end of year
$90,520 $86,061 $997,429 $1,010,177 $— $— $1,087,949 $1,096,238 
Funded status$(9,361)$(22,485)$72,560 $92,856 $(521)$(614)$62,678 $69,757 
The change in the benefit obligation for 2024 is primarily related to a decrease of the non-U.S. discount rates and currency translation, offset in part by higher asset returns.
The accumulated benefit obligations at December 31, 2024 and 2023 were $99.9 million and $108.5 million, respectively, for the U.S. defined benefit pension plan and $781.1 million and $775.1 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, 2024 were $146.0 million, $118.0 million, and $51.1 million, respectively. 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 $28.2 million, respectively.
Amounts recognized in the consolidated balance sheets consist of:
 U.S. Pension BenefitsNon-U.S. Pension BenefitsOther BenefitsTotal
 20242023202420232024202320242023
Other non-current assets$— $— $174,006 $202,119 $— $— $174,006 $202,119 
Accrued and other liabilities(139)(124)(5,201)(5,368)(94)(106)(5,434)(5,598)
Pension and other post-retirement liabilities
(9,223)(22,361)(95,276)(103,895)(426)(508)(104,925)(126,764)
Accumulated other comprehensive loss (income)
36,760 47,631 238,408 222,346 74 19 275,242 269,996 
Total$27,398 $25,146 $311,937 $315,202 $(446)$(595)$338,889 $339,753 
The following amounts have been recognized in accumulated other comprehensive income (loss), before taxes at December 31, 2024 and have not yet been recognized as a component of net periodic pension cost:
U.S. Pension
Benefits		Non-U.S. Pension
Benefits		Other BenefitsTotalTotal, After Tax
2024202320242023202420232024202320242023
Plan amendments and prior service cost$— $— $(16,140)$(21,755)$(202)$(276)$(16,342)$(22,031)$(13,188)$(18,212)
Actuarial losses (gains)36,760 47,631 254,548 244,101 276 295 291,584 292,027 232,056 $231,446 
Total$36,760 $47,631 $238,408 $222,346 $74 $19 $275,242 $269,996 $218,868 $213,234 
The following changes in plan assets and benefit obligations were recognized in other comprehensive income (loss), before taxes, for the year ended December 31, 2024:
U.S. Pension
Benefits		Non-U.S. Pension
Benefits		Other BenefitsTotalTotal, After Tax
Net actuarial losses (gains)$(8,789)$41,766 $13 $32,990 $26,769 
Plan amendment— — — — — 
Amortization of:
Actuarial (losses) gains(2,082)(14,343)(32)(16,457)(13,060)
Plan amendments and prior service cost— 3,987 75 4,062 3,257 
Impact of foreign currency— (14,835)— (14,835)(11,236)
Total$(10,871)$16,575 $56 $5,760 $5,730 
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.
 2024202320242023
Discount rate5.34 %4.68 %1.57 %2.07 %
Compensation increase raten/an/a0.81 %0.84 %
Expected long-term rate of return on plan assets6.75 %6.75 %4.06 %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.
 202420232022202420232022
Discount rate4.68 %4.87 %2.57 %2.07 %2.57 %0.40 %
Compensation increase raten/an/an/a0.84 %0.87 %0.85 %
Expected long-term rate of return on plan assets6.75 %6.75 %5.75 %3.84 %3.84 %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
202420232022202420232022202420232022202420232022
Service cost, net$1,587 $1,155 $1,665 $16,116 $13,945 $19,040 $— $— $— $17,703 $15,100 $20,705 
Interest cost on projected benefit obligations
4,766 5,023 2,696 17,792 19,991 5,927 26 28 12 22,584 25,042 8,635 
Expected return on plan assets(5,472)(5,532)(6,189)(37,084)(34,675)(36,308)— — — (42,556)(40,207)(42,497)
Recognition of actuarial losses/(gains) and prior service cost2,082 2,192 2,337 10,356 6,061 14,665 (43)(76)(106)12,395 8,177 16,896 
Net periodic pension cost/(benefit)$2,963 $2,838 $509 $7,180 $5,322 $3,324 $(17)$(48)$(94)$10,126 $8,112 $3,739 
The projected post-retirement benefit obligation was principally determined using discount rates of 5.02% in 2024 and 4.49% in 2023. Net periodic post-retirement benefit cost was principally determined using discount rates of 4.49% in 2024, 4.67% in 2023, and 1.94% in 2022.
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 pension 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, 2024December 31, 2023
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$48,420 $— $— $48,420 $48,710 $— $— $48,710 
Equity Securities:        
Mettler-Toledo Stock2,632 — — 2,632 2,606 — — 2,606 
Equity Mutual Funds:        
U.S.(1)
5,948 25,324 — 31,272 5,831 24,856 — 30,687 
International(2)
290,027 9,802 — 299,829 294,703 10,314 — 305,017 
Emerging Markets(3)
20,536 — — 20,536 19,941 — — 19,941 
Fixed Income Securities:        
Corporate/Government Bonds(4)
92,878 — — 92,878 91,495 — — 91,495 
Fixed Income Mutual Funds:       
Insurance Contracts(5)
— 24,493 2,073 26,566 — 25,458 1,972 27,430 
Core Bond(6)
134,891 54,771 — 189,662 144,948 57,286 — 202,234 
Real Asset Mutual Funds:        
Real Estate(7)
— 183,332 — 183,332 — 186,804 — 186,804 
Commodities(8)
62,401 — — 62,401 50,109 — — 50,109 
Other Types of Investments:        
Debt Securities (9)
41,989 — — 41,989 45,156 — — 45,156 
Global Allocation Funds(10)
4,505 — — 4,505 4,326 — — 4,326 
Multi-Strategy Fund of Hedge Funds (11)
— 20,837 — 20,837 — 22,336 — 22,336 
Insurance Linked Securities(12)
669— — 669 2,870 — — 2,870 
Total assets in fair value hierarchy
$704,896 $318,559 $2,073 $1,025,528 $710,695 $327,054 $1,972 $1,039,721 
Investments measured at net asset value:
Emerging Markets (13)
6,0936,444
Multi-Strategy Fund of Hedge Funds (13)
56,32850,073
Total pension assets at fair value
$1,087,949 $1,096,238 
_____________________________________
(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, 2024 and 2023 for Level 3 asset categories:
Insurance
Contracts
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 
Actual return on plan assets related to assets held at end of year42 
Purchases159 
Sales(8)
Impact of foreign currency(92)
Balance at December 31, 2024$2,073 
There were no transfers between any asset levels during the years ended December 31, 2024 and 2023.
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
2025$8,769 $53,191 $94 $62,054 
20268,757 52,880 83 61,720 
20278,720 54,310 73 63,103 
20288,665 54,924 64 63,653 
20298,567 56,553 56 65,176 
2030-203439,728 267,027 183 306,938 
In 2025, the Company expects to make employer contributions of approximately $0.1 million to its U.S. pension plan, $25.4 million to its non-U.S. pension plan, and approximately $0.1 million to its U.S. post-retirement medical plan.
v3.25.0.1
Other Charges (Income), Net
 12 Months Ended
Dec. 31, 2024
Other Income and Expenses [Abstract]  
Other Charges (Income), Net Disclosure OTHER CHARGES (INCOME), NET
Other charges (income), net consisted of net other income of $4.6 million, $4.1 million, and $9.3 million in 2024, 2023, and 2022, 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 $7.7 million, $7.6 million, and $16.9 million in 2024, 2023, and 2022, respectively. Other charges (income), net also includes acquisition costs, for which there were $0.3 million in 2024 and $0.9 million in 2022.
v3.25.0.1
Leases
 12 Months Ended
Dec. 31, 2024
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:
20242023Balance Sheet Location
Right-of-use assets, net$112,735 $114,392 Other non-current assets
Current lease liability$29,815 $28,516 Accrued and other liabilities
Non-current lease liability87,370 86,930 Other non-current liabilities
Total operating lease liability$117,185 $115,446 
As of December 31, 2024, the Company had not entered into any material real estate operating leases expected to commence in 2025.
For the years ended December 31, 2024, 2023 and 2022, the Company had the following recorded in selling, general, and administrative associated with leasing arrangements:
202420232022
Operating lease expense$39,424$37,849$37,145 
Variable lease expense9,8417,0224,649 
Short-term lease expense1,2281,004958 
Total lease expense$50,493$45,875$42,752 
Weighted average remaining lease term5.9 years6.5 years7.9 years
Weighted average discount rate4.4%4.0%2.9 %
Accruals and other on the consolidated statement of cash flows includes the amortization of the lease right-of-use asset of $33.8 million, $34.4 million, and $34.6 million, offset by a change in the lease liability of $33.7 million, $33.4 million, and $34.6 million, for the years ended December 31, 2024, 2023, and 2022, respectively. Lease payments within operating activities were $36.6 million, $36.6 million, and $35.2 million for the years ended December 31, 2024, 2023, and 2022, respectively. The Company also obtained non-cash lease right-of-use assets in exchange for lease liabilities of $23.5 million, $34.5 million, and $27.0 million for the years ended December 31, 2024, 2023, and 2022, respectively.
The following is a maturity analysis of the annual undiscounted cash flows for the annual periods ended December 31:
2025$34,356 
202627,642 
202719,210 
202813,043 
20298,940 
Thereafter30,520 
Total lease payments133,711 
Less imputed interest(16,526)
Total operating lease liability$117,185 
v3.25.0.1
Commitments and Contingencies
 12 Months Ended
Dec. 31, 2024
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.
v3.25.0.1
Segment Reporting
 12 Months Ended
Dec. 31, 2024
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 Operations. 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 Operations.
The accounting policies of the operating segments are the same as those described in the summary of significant accounting policies. Our reportable segments comprise the structure used by our Chief Executive Officer, who is our Chief Operating Decision Maker (CODM), to make key operating decisions and assess performance. 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.
v3.25.0.1
Pay vs Performance Disclosure - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Pay vs Performance Disclosure      
Net earnings $ 863,140 $ 788,778 $ 872,502
v3.25.0.1
Insider Trading Arrangements
 3 Months Ended
Dec. 31, 2024
Trading Arrangements, by Individual  
Rule 10b5-1 Arrangement Adopted false
Non-Rule 10b5-1 Arrangement Adopted false
Rule 10b5-1 Arrangement Terminated false
Non-Rule 10b5-1 Arrangement Terminated false
v3.25.0.1
Insider Trading Policies and Procedures
 12 Months Ended
Dec. 31, 2024
Insider Trading Policies and Procedures [Line Items]  
Insider Trading Policies and Procedures Adopted true
v3.25.0.1
Cybersecurity Risk Management and Strategy Disclosure
 12 Months Ended
Dec. 31, 2024
Cybersecurity Risk Management, Strategy, and Governance [Line Items]  
Cybersecurity Risk Management Processes for Assessing, Identifying, and Managing Threats [Text Block]
We rely on our technology infrastructure and information systems to interact with suppliers, sell our products and services, fulfill orders, support our customers, and bill, collect, and make payments. Our internally developed system and processes, as well as those systems and processes provided by third-party vendors, may be susceptible to damage or interruption from cybersecurity threats, such as terrorist or hacker attacks, the introduction of malicious computer viruses, ransomware, falsification of banking and other information, insider risk, or other security breaches. Such attacks have become more and more sophisticated over the years and in some cases have been conducted or sponsored by governmental actors with significant means. We have implemented robust processes to assess, identify, and manage cybersecurity risks, including potentially material risks, related to our internal information systems, our products, and our business. Our Board of Directors has direct oversight of our enterprise risk management process, including the management of cybersecurity risks, as described below.
Under the direction and supervision of our Chief Financial Officer, we conduct an annual comprehensive enterprise risk assessment, which includes details of our management of enterprise-wide risk topics, such as those related to cybersecurity risks. The Board of Directors receives the full results of the annual enterprise risk assessment, including an evaluation of cybersecurity risks we face, risks more broadly across our peers and industries, and a detailed description of the actions we have taken to mitigate these risks. The Audit Committee of the Board of Directors reviews the results of the enterprise risk assessment in detail with management on an annual basis and reports on its review to the Board of Directors each year. We provide a comprehensive update to the Board of Directors on cybersecurity at least annually, and more frequently as relevant.
Our Head of Global Supply Chain and IT, Chief Information Officer, and Head of Information Security serve on our Cybersecurity Steering Committee (the “Cyber SteCo”), along with our Chief Legal
Officer, who reports to our Chief Executive Officer, and our Head of Financial Processes, who reports to our Chief Financial Officer. The Cyber SteCo, which meets regularly, develops and implements cybersecurity risk mitigation strategies and activities throughout the year, including the management of comprehensive incident response plans, and receives regular updates on cybersecurity-related matters.
Our Head of Global Supply Chain and IT, reporting to our Chief Executive Officer, has principal responsibility for assessing and managing cybersecurity risks and preparing updates for the Board of Directors. Our Chief Information Officer reports to our Head of Global Supply Chain and IT and is responsible for the operation of our cybersecurity program. Our Chief Information Officer is educated in business computing sciences and has over twenty years working in leadership, management, and consulting roles in digitalization, application management, and cybersecurity. Our Chief Information Officer also has experience implementing and leading global governance frameworks, including the National Institute of Standards and Technology (“NIST”) Cybersecurity Framework and ISO 27001. An Advisory Board, comprised of the Chief Executive Officer, Chief Financial Officer, Head of Global Supply Chain and IT, and Chief Information Officer, meets quarterly to discuss digital initiatives and investments, inclusive of cybersecurity topics. An experienced team of IT security professionals reports to our Chief Information Officer.
Cybersecurity Risk Management Processes Integrated [Flag] true
Cybersecurity Risk Management Processes Integrated [Text Block] We rely on our technology infrastructure and information systems to interact with suppliers, sell our products and services, fulfill orders, support our customers, and bill, collect, and make payments. Our internally developed system and processes, as well as those systems and processes provided by third-party vendors, may be susceptible to damage or interruption from cybersecurity threats, such as terrorist or hacker attacks, the introduction of malicious computer viruses, ransomware, falsification of banking and other information, insider risk, or other security breaches. Such attacks have become more and more sophisticated over the years and in some cases have been conducted or sponsored by governmental actors with significant means. We have implemented robust processes to assess, identify, and manage cybersecurity risks, including potentially material risks, related to our internal information systems, our products, and our business.
Cybersecurity Risk Management Third Party Engaged [Flag] true
Cybersecurity Risk Third Party Oversight and Identification Processes [Flag] true
Cybersecurity Risk Materially Affected or Reasonably Likely to Materially Affect Registrant [Flag] false
Cybersecurity Risk Board of Directors Oversight [Text Block]
The Cyber SteCo oversees activities related to the monitoring, prevention, detection, mitigation, and remediation of cybersecurity risks. We have adopted the National Institute of Standards and Technology (“NIST”) Cybersecurity Framework to continually evaluate and enhance our cybersecurity procedures. Activities include mandatory quarterly online training for all employees, technical security controls, enhanced data protection, the maintenance of backup and protective systems, policy review and implementation, the evaluation and retention of cybersecurity insurance, and periodic assessments of third-party service providers to assess the cyber preparedness of key vendors. To enhance our threat preparedness, we perform monthly vulnerability scans, annual penetration testing with a third party, and annual disaster recovery and cyber response drills, including third-party-facilitated drills. We use automated tools that monitor, detect, and prevent cybersecurity risks and have a third party operated security operations center that operates 24 hours a day to alert us to any potential cybersecurity threats. As noted above, our Cyber SteCo also has implemented comprehensive incident response plans that define the appropriate communication flow and response for certain categories of potential cybersecurity incidents. The Cyber SteCo escalates events, including to the Chief Executive Officer and Board of Directors, as deemed necessary.
The Cyber SteCo oversees our engagement with reputable third parties, which we utilize in connection with our established processes to assess, identify, and manage potential and actual cybersecurity threats, to actively monitor our systems internally using widely accepted digital applications, processes, and controls, and to provide forensic assistance to facilitate system recovery in the case of an incident.
If there is a cybersecurity incident, we may suffer interruptions in service, loss of assets or data, or reduced functionality. Many of our systems are not redundant, and our disaster recovery planning may not be sufficient for every eventuality a cybersecurity incident could cause. Security breaches of our systems which allow inappropriate access to or inadvertent transfer of information and misappropriation or unauthorized disclosure of confidential information belonging to us or to our employees, customers, or suppliers could result in our suffering significant financial and reputational damage. Customers may use our products and/or software to generate or manage critical information. Though we take steps to ensure our products and/or software are secure, it is possible that a cyber attack could result in the loss or compromise of critical information. If a customer alleges that a cyber attack causes or contributes to a loss or compromise of critical information, whether or not caused by us, we could face harm to our reputation
and financial condition as it could cause us to incur legal liability and increased costs to respond to such events.
Cybersecurity Risk Board Committee or Subcommittee Responsible for Oversight [Text Block]
Under the direction and supervision of our Chief Financial Officer, we conduct an annual comprehensive enterprise risk assessment, which includes details of our management of enterprise-wide risk topics, such as those related to cybersecurity risks. The Board of Directors receives the full results of the annual enterprise risk assessment, including an evaluation of cybersecurity risks we face, risks more broadly across our peers and industries, and a detailed description of the actions we have taken to mitigate these risks. The Audit Committee of the Board of Directors reviews the results of the enterprise risk assessment in detail with management on an annual basis and reports on its review to the Board of Directors each year. We provide a comprehensive update to the Board of Directors on cybersecurity at least annually, and more frequently as relevant.
Cybersecurity Risk Process for Informing Board Committee or Subcommittee Responsible for Oversight [Text Block] The Board of Directors receives the full results of the annual enterprise risk assessment, including an evaluation of cybersecurity risks we face, risks more broadly across our peers and industries, and a detailed description of the actions we have taken to mitigate these risks. The Audit Committee of the Board of Directors reviews the results of the enterprise risk assessment in detail with management on an annual basis and reports on its review to the Board of Directors each year. We provide a comprehensive update to the Board of Directors on cybersecurity at least annually, and more frequently as relevant.
Cybersecurity Risk Role of Management [Text Block]
Under the direction and supervision of our Chief Financial Officer, we conduct an annual comprehensive enterprise risk assessment, which includes details of our management of enterprise-wide risk topics, such as those related to cybersecurity risks. The Board of Directors receives the full results of the annual enterprise risk assessment, including an evaluation of cybersecurity risks we face, risks more broadly across our peers and industries, and a detailed description of the actions we have taken to mitigate these risks. The Audit Committee of the Board of Directors reviews the results of the enterprise risk assessment in detail with management on an annual basis and reports on its review to the Board of Directors each year. We provide a comprehensive update to the Board of Directors on cybersecurity at least annually, and more frequently as relevant.
Our Head of Global Supply Chain and IT, Chief Information Officer, and Head of Information Security serve on our Cybersecurity Steering Committee (the “Cyber SteCo”), along with our Chief Legal
Officer, who reports to our Chief Executive Officer, and our Head of Financial Processes, who reports to our Chief Financial Officer. The Cyber SteCo, which meets regularly, develops and implements cybersecurity risk mitigation strategies and activities throughout the year, including the management of comprehensive incident response plans, and receives regular updates on cybersecurity-related matters.
Our Head of Global Supply Chain and IT, reporting to our Chief Executive Officer, has principal responsibility for assessing and managing cybersecurity risks and preparing updates for the Board of Directors. Our Chief Information Officer reports to our Head of Global Supply Chain and IT and is responsible for the operation of our cybersecurity program. Our Chief Information Officer is educated in business computing sciences and has over twenty years working in leadership, management, and consulting roles in digitalization, application management, and cybersecurity. Our Chief Information Officer also has experience implementing and leading global governance frameworks, including the National Institute of Standards and Technology (“NIST”) Cybersecurity Framework and ISO 27001. An Advisory Board, comprised of the Chief Executive Officer, Chief Financial Officer, Head of Global Supply Chain and IT, and Chief Information Officer, meets quarterly to discuss digital initiatives and investments, inclusive of cybersecurity topics. An experienced team of IT security professionals reports to our Chief Information Officer.
Cybersecurity Risk Management Positions or Committees Responsible [Flag] true
Cybersecurity Risk Management Positions or Committees Responsible [Text Block] Our Head of Global Supply Chain and IT, reporting to our Chief Executive Officer, has principal responsibility for assessing and managing cybersecurity risks and preparing updates for the Board of Directors. Our Chief Information Officer reports to our Head of Global Supply Chain and IT and is responsible for the operation of our cybersecurity program.
Cybersecurity Risk Management Expertise of Management Responsible [Text Block] Our Chief Information Officer is educated in business computing sciences and has over twenty years working in leadership, management, and consulting roles in digitalization, application management, and cybersecurity. Our Chief Information Officer also has experience implementing and leading global governance frameworks, including the National Institute of Standards and Technology (“NIST”) Cybersecurity Framework and ISO 27001.
Cybersecurity Risk Process for Informing Management or Committees Responsible [Text Block]
Under the direction and supervision of our Chief Financial Officer, we conduct an annual comprehensive enterprise risk assessment, which includes details of our management of enterprise-wide risk topics, such as those related to cybersecurity risks. The Board of Directors receives the full results of the annual enterprise risk assessment, including an evaluation of cybersecurity risks we face, risks more broadly across our peers and industries, and a detailed description of the actions we have taken to mitigate these risks. The Audit Committee of the Board of Directors reviews the results of the enterprise risk assessment in detail with management on an annual basis and reports on its review to the Board of Directors each year. We provide a comprehensive update to the Board of Directors on cybersecurity at least annually, and more frequently as relevant.
Cybersecurity Risk Management Positions or Committees Responsible Report to Board [Flag] true
v3.25.0.1
Summary of Significant Accounting Policies (Policies)
 12 Months Ended
Dec. 31, 2024
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. We have received the maximum allowable funding of $35.8 million related to the agreement during prior years, 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 or 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 98,803, 123,406, and 226,500 common equivalent shares in the calculation of diluted weighted average number of common shares for the years ended December 31, 2024, 2023, and 2022, respectively, relating to outstanding stock options and restricted stock units.
Outstanding options and restricted stock units to purchase or receive 61,040, 54,840, and 42,855 shares of common stock for the years ended December 31, 2024, 2023, and 2022, 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 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 adopted these annual disclosure requirements on a retrospective basis in 2024. See Note 18 for the required reportable segments disclosures.
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.
In November 2024, the FASB issued ASU 2024-03: Disaggregation of Income Statement Expenses, which requires disclosures about the nature of expenses presented on the face of the income statement. The Company will adopt the annual disclosure requirements in 2027 and is currently evaluating the impact of this guidance on the consolidated financial statements.
v3.25.0.1
Revenue from Contracts with Customers (Tables)
 12 Months Ended
Dec. 31, 2024
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, 2024U.S. OperationsSwiss OperationsWestern European OperationsChinese OperationsOther OperationsTotal
Product Revenue$1,042,479 $174,484 $593,502 $565,118 $554,645 $2,930,228 
Service Revenue:
Point in time
290,266 31,746 176,459 45,587 140,162 684,220 
Over time
96,757 12,350 88,041 17,742 43,023 257,913 
Total$1,429,502 $218,580 $858,002 $628,447 $737,830 $3,872,361 
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 
The Company's global revenue mix by product category for the year ended December 31, 2024 is laboratory (56% of sales), industrial (39% of sales), and retail (5% of sales). The Company’s product revenue by reportable segment is proportionately similar to the Company’s global mix 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:
202420232022
Laboratory$2,185,979 $2,068,807 $2,230,381 
Industrial1,490,026 1,490,445 1,510,554 
Retail196,356 229,057 178,774 
Total net sales$3,872,361 $3,788,309 $3,919,709 
A breakdown of net sales to external customers by geographic customer destination, net for the year ended December 31 follows:
 202420232022
Americas$1,606,292 $1,568,210 $1,582,493 
Europe1,100,399 1,015,498 1,014,360 
Asia/Rest of World1,165,670 1,204,601 1,322,856 
Total$3,872,361 $3,788,309 $3,919,709 
Contract with Customer, Asset and Liability [Table Text Block]
202420232022
Beginning balances as of January 1$202,022 $192,759 $192,648 
Customer prepayments/deferred revenue656,890 670,178 731,482 
Revenue recognized(643,067)(663,165)(720,362)
Foreign currency translation(11,679)2,250 (11,009)
Ending balance as of December 31$204,166 $202,022 $192,759 
v3.25.0.1
Inventories (Tables)
 12 Months Ended
Dec. 31, 2024
INVENTORIES [Abstract]  
Schedule of Inventory, Current [Table Text Block]
20242023
Raw materials and parts$161,416 $180,352 
Work-in-progress69,488 81,181 
Finished goods111,370 124,332 
Total inventory$342,274 $385,865 
v3.25.0.1
Fair Value Measurements (Tables)
 12 Months Ended
Dec. 31, 2024
Fair Value Measurements [Abstract]  
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis
 20242023Balance Sheet Location
Foreign currency forward contracts not designated as hedging instruments$7,949 $8,330 Other current assets and prepaid expenses
Cash flow hedges:
Cross currency swap agreement855 — Other current assets and prepaid expenses
Cross currency swap agreement398 — Other non-current assets
Total derivative assets$9,202 $8,330 
Foreign currency forward contracts not designated as hedging instruments$4,078 $8,245 Accrued and other liabilities
Cash flow hedges:
Cross currency swap agreements— 2,678 Accrued and other liabilities
Cross currency swap agreements4,463 14,270 Other non-current liabilities
Total derivative liabilities$8,541 $25,193 
v3.25.0.1
Property, Plant and Equipment, Net (Tables)
 12 Months Ended
Dec. 31, 2024
Property, Plant and Equipment, Net [Abstract]  
Property, Plant and Equipment [Table Text Block]
20242023
Land$61,693 $64,870 
Building and leasehold improvements404,699 407,836 
Machinery and equipment511,411 527,038 
Computer software489,387 507,464 
Property, plant, and equipment, gross1,467,190 1,507,208 
Less accumulated depreciation and amortization(696,910)(703,834)
Property, plant, and equipment, net$770,280 $803,374 
v3.25.0.1
Goodwill and Other Intangible Assets (Tables)
 12 Months Ended
Dec. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of Goodwill [Table Text Block]
20242023
Balance at beginning of year$670,108 $660,170 
Goodwill acquired5,897 2,810 
Goodwill disposed(175)— 
Foreign currency translation(6,916)7,128 
Balance at year end$668,914 $670,108 
Schedule Of Finite Lived And Indefinite Lived Intangible Assets By Major Class [Table Text Block]
 20242023
Gross
Amount		Accumulated
Amortization		Intangibles, NetGross
Amount		Accumulated
Amortization		Intangibles, Net
Customer relationships$289,178 $(116,812)$172,366 $294,180 $(107,665)$186,515 
Proven technology and patents123,971 (80,634)43,337 129,227 (75,014)54,213 
Tradenames (finite life)7,853 (5,308)2,545 7,908 (4,535)3,373 
Tradenames (indefinite life)35,088 — 35,088 36,320 — 36,320 
Other12,426 (8,619)3,807 13,236 (8,228)5,008 
 $468,516 $(211,373)$257,143 $480,871 $(195,442)$285,429 
v3.25.0.1
Debt (Tables)
 12 Months Ended
Dec. 31, 2024
Debt Disclosure [Abstract]  
Schedule of Debt .    DEBT
Debt consisted of the following at December 31:
20242023
3.84% $125 million 10-year Senior Notes due September 19, 2024— 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, 2033150,000 150,000 
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, 2030129,840 137,966 
1.30% EUR 135 million 15-year Senior Notes due November 6, 2034140,227 149,003 
1.06% EUR 125 million 15-year Senior Notes due March 19, 2036129,840 137,966 
Senior Notes debt issuance costs, net(4,260)(4,019)
Total Senior Notes1,220,647 1,370,916 
$1.35 billion Credit Agreement, interest at benchmark plus 87.5 basis points(1)(2)
730,203 638,445 
Other local arrangements63,038 71,478 
Total debt2,013,888 2,080,839 
Less: current portion(182,623)(192,219)
Total long-term debt$1,831,265 $1,888,620 
v3.25.0.1
Shareholders' Equity (Tables)
 12 Months Ended
Dec. 31, 2024
Stockholders' Equity Note [Abstract]  
Rollforward Of Accumulated Other Comprehensive Income [Table Text Block]
Currency Translation Adjustment, Net of TaxNet Unrealized
Gain (Loss) on
Cash Flow Hedging Arrangements,
Net of Tax		Pension and Post-Retirement Benefit Related Items,
Net of Tax		Total
Balance at December 31, 2021$(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)
Other comprehensive income (loss), net of tax:
Net unrealized actuarial gains (loss), prior service cost, and plan amendments— — (26,769)(26,769)
Net unrealized gains (loss) on cash flow hedging arrangements
— 19,836 — 19,836 
Foreign currency translation adjustment
(16,273)— 11,236 (5,037)
Amounts recognized from accumulated other comprehensive income (loss), net of tax
— (23,876)9,803 (14,073)
Net change in other comprehensive income (loss), net of tax
(16,273)(4,040)(5,730)(26,043)
Balance at December 31, 2024$(133,503)$(3,920)$(208,435)$(345,858)
Reclassification out of Accumulated Other Comprehensive Income [Table Text Block]
202420232022Location of Amounts Recognized in Earnings
Effective portion of losses (gains) on cash flow hedging arrangements:
Interest rate swap agreements
$— $— $352 Interest expense
Cross currency swap
(29,476)10,168 (7,454)(a)
Total before taxes(29,476)10,168 (7,102)
Provision for taxes(5,600)1,932 (1,327)Provision for taxes
Total, net of taxes$(23,876)$8,236 $(5,775)
Recognition of defined benefit pension and post-retirement items:
Recognition of actuarial losses, plan amendments, prior service cost, and settlement charge before taxes
$12,371 $8,240 $16,896 (b)
Provision for taxes2,568 1,758 3,618 Provision for taxes
Total, net of taxes$9,803 $6,482 $13,278 
v3.25.0.1
Equity Incentive Plan (Tables)
 12 Months Ended
Dec. 31, 2024
Share-Based Payment Arrangement [Abstract]  
Table of Performance Share Unit Monte Carlo Assumptions [Table Text Block]
202420232022
Risk-free interest rate4.24 %4.71 %4.58 %
Expected life in years333
Expected volatility28 %27 %26 %
Expected dividend yield— — — 
Schedule of Stock Options, Activity
Number of
Options		Weighted Average
Exercise Price		Aggregate Intrinsic
Value (in millions)
Outstanding at December 31, 2023259,958 $743.30 $127.2 
Granted17,170 1,260.97 
Exercised(59,443)382.69 
Forfeited(372)1,225.87 
Expired(36)1,484.40 
Outstanding at December 31, 2024217,277 $881.92 $79.6 
Options exercisable at December 31, 2024156,503 $765.33 $74.7 
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
85,762 $556.79 2.8585,762 
53,015 $903.76 5.3447,021 
78,500 $1,222.38 8.4123,720 
217,277  5.46156,503 
Schedule of Stock Options, Valuation Assumptions
202420232022
Risk-free interest rate4.31 %4.64 %4.35 %
Expected life in years6.86.76.4
Expected volatility28 %27 %26 %
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, 202326,739 $32.410,411 $12.6
Granted9,649  3,149 
Adjustment for performance results achieved(1)
— (3,047)
Vested(8,889) (98)
Forfeited(2,071) — 
Outstanding at December 31, 202425,428 $31.110,415 $12.7
v3.25.0.1
Benefit Plans (Tables)
 12 Months Ended
Dec. 31, 2024
Defined Benefit Plan [Abstract]  
Schedule of Defined Benefit Plans Disclosures
 U.S. Pension BenefitsNon-U.S. Pension BenefitsOther BenefitsTotal
 20242023202420232024202320242023
Change in benefit obligation:      
Benefit obligation at beginning of year
$108,546 $110,293 $917,321 $785,295 $614 $670 $1,026,481 $896,258 
Service cost, gross1,587 1,155 35,403 33,159 — — 36,990 34,314 
Interest cost4,766 5,023 17,792 19,991 26 28 22,584 25,042 
Actuarial losses (gains)(6,473)552 69,564 65,734 13 372 63,104 66,658 
Plan amendments and other— — 101 — — — 101 — 
Benefits paid(8,545)(8,477)(53,103)(53,164)(132)(456)(61,780)(62,097)
Impact of foreign currency— — (62,209)66,306 — — (62,209)66,306 
Benefit obligation at end of year
$99,881 $108,546 $924,869 $917,321 $521 $614 $1,025,271 $1,026,481 
Change in plan assets:      
Fair value of plan assets at beginning of year
$86,061 $87,341 $1,010,177 $894,865 $— $— $1,096,238 $982,206 
Actual return on plan assets7,788 7,083 64,883 38,133 — — 72,671 45,216 
Employer contributions5,216 114 26,088 26,414 132 456 31,436 26,984 
Plan participants’ contributions
— — 19,287 19,214 — — 19,287 19,214 
Benefits paid(8,545)(8,477)(53,103)(53,164)(132)(456)(61,780)(62,097)
Impact of foreign currency— — (69,903)84,715 — — (69,903)84,715 
Fair value of plan assets at end of year
$90,520 $86,061 $997,429 $1,010,177 $— $— $1,087,949 $1,096,238 
Funded status$(9,361)$(22,485)$72,560 $92,856 $(521)$(614)$62,678 $69,757 
The change in the benefit obligation for 2024 is primarily related to a decrease of the non-U.S. discount rates and currency translation, offset in part by higher asset returns.
Schedule of Amounts Recognized in Balance Sheet
 U.S. Pension BenefitsNon-U.S. Pension BenefitsOther BenefitsTotal
 20242023202420232024202320242023
Other non-current assets$— $— $174,006 $202,119 $— $— $174,006 $202,119 
Accrued and other liabilities(139)(124)(5,201)(5,368)(94)(106)(5,434)(5,598)
Pension and other post-retirement liabilities
(9,223)(22,361)(95,276)(103,895)(426)(508)(104,925)(126,764)
Accumulated other comprehensive loss (income)
36,760 47,631 238,408 222,346 74 19 275,242 269,996 
Total$27,398 $25,146 $311,937 $315,202 $(446)$(595)$338,889 $339,753 
Schedule of Net Periodic Benefit Cost Not yet Recognized
U.S. Pension
Benefits		Non-U.S. Pension
Benefits		Other BenefitsTotalTotal, After Tax
2024202320242023202420232024202320242023
Plan amendments and prior service cost$— $— $(16,140)$(21,755)$(202)$(276)$(16,342)$(22,031)$(13,188)$(18,212)
Actuarial losses (gains)36,760 47,631 254,548 244,101 276 295 291,584 292,027 232,056 $231,446 
Total$36,760 $47,631 $238,408 $222,346 $74 $19 $275,242 $269,996 $218,868 $213,234 
Schedule of Changes in Accumulated Postemployment Benefit Obligations
U.S. Pension
Benefits		Non-U.S. Pension
Benefits		Other BenefitsTotalTotal, After Tax
Net actuarial losses (gains)$(8,789)$41,766 $13 $32,990 $26,769 
Plan amendment— — — — — 
Amortization of:
Actuarial (losses) gains(2,082)(14,343)(32)(16,457)(13,060)
Plan amendments and prior service cost— 3,987 75 4,062 3,257 
Impact of foreign currency— (14,835)— (14,835)(11,236)
Total$(10,871)$16,575 $56 $5,760 $5,730 
Schedule of Assumptions Used in Computing Benefit Obligation
 U.S.Non-U.S.
 2024202320242023
Discount rate5.34 %4.68 %1.57 %2.07 %
Compensation increase raten/an/a0.81 %0.84 %
Expected long-term rate of return on plan assets6.75 %6.75 %4.06 %3.84 %
Interest crediting raten/an/a1.50 %1.50 %
Schedule of Assumptions Used in Computing Pension Cost
 U.S.Non-U.S.
 202420232022202420232022
Discount rate4.68 %4.87 %2.57 %2.07 %2.57 %0.40 %
Compensation increase raten/an/an/a0.84 %0.87 %0.85 %
Expected long-term rate of return on plan assets6.75 %6.75 %5.75 %3.84 %3.84 %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
202420232022202420232022202420232022202420232022
Service cost, net$1,587 $1,155 $1,665 $16,116 $13,945 $19,040 $— $— $— $17,703 $15,100 $20,705 
Interest cost on projected benefit obligations
4,766 5,023 2,696 17,792 19,991 5,927 26 28 12 22,584 25,042 8,635 
Expected return on plan assets(5,472)(5,532)(6,189)(37,084)(34,675)(36,308)— — — (42,556)(40,207)(42,497)
Recognition of actuarial losses/(gains) and prior service cost2,082 2,192 2,337 10,356 6,061 14,665 (43)(76)(106)12,395 8,177 16,896 
Net periodic pension cost/(benefit)$2,963 $2,838 $509 $7,180 $5,322 $3,324 $(17)$(48)$(94)$10,126 $8,112 $3,739 
Schedule of Allocation of Plan Assets
 December 31, 2024December 31, 2023
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$48,420 $— $— $48,420 $48,710 $— $— $48,710 
Equity Securities:        
Mettler-Toledo Stock2,632 — — 2,632 2,606 — — 2,606 
Equity Mutual Funds:        
U.S.(1)
5,948 25,324 — 31,272 5,831 24,856 — 30,687 
International(2)
290,027 9,802 — 299,829 294,703 10,314 — 305,017 
Emerging Markets(3)
20,536 — — 20,536 19,941 — — 19,941 
Fixed Income Securities:        
Corporate/Government Bonds(4)
92,878 — — 92,878 91,495 — — 91,495 
Fixed Income Mutual Funds:       
Insurance Contracts(5)
— 24,493 2,073 26,566 — 25,458 1,972 27,430 
Core Bond(6)
134,891 54,771 — 189,662 144,948 57,286 — 202,234 
Real Asset Mutual Funds:        
Real Estate(7)
— 183,332 — 183,332 — 186,804 — 186,804 
Commodities(8)
62,401 — — 62,401 50,109 — — 50,109 
Other Types of Investments:        
Debt Securities (9)
41,989 — — 41,989 45,156 — — 45,156 
Global Allocation Funds(10)
4,505 — — 4,505 4,326 — — 4,326 
Multi-Strategy Fund of Hedge Funds (11)
— 20,837 — 20,837 — 22,336 — 22,336 
Insurance Linked Securities(12)
669— — 669 2,870 — — 2,870 
Total assets in fair value hierarchy
$704,896 $318,559 $2,073 $1,025,528 $710,695 $327,054 $1,972 $1,039,721 
Investments measured at net asset value:
Emerging Markets (13)
6,0936,444
Multi-Strategy Fund of Hedge Funds (13)
56,32850,073
Total pension assets at fair value
$1,087,949 $1,096,238 
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation
Insurance
Contracts
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 
Actual return on plan assets related to assets held at end of year42 
Purchases159 
Sales(8)
Impact of foreign currency(92)
Balance at December 31, 2024$2,073 
Schedule of Expected Benefit Payments
U.S. Pension
Benefits		Non-U.S. Pension
Benefits		Other Benefits, Net of
Subsidy		Total
2025$8,769 $53,191 $94 $62,054 
20268,757 52,880 83 61,720 
20278,720 54,310 73 63,103 
20288,665 54,924 64 63,653 
20298,567 56,553 56 65,176 
2030-203439,728 267,027 183 306,938 
v3.25.0.1
Taxes (Tables)
 12 Months Ended
Dec. 31, 2024
Income Tax Disclosure [Abstract]  
Schedule of Income before Income Tax, Domestic and Foreign
202420232022
United States$128,053 $142,078 $144,107 
Non-United States909,170 831,650 926,485 
Earnings before taxes$1,037,223 $973,728 $1,070,592 
Schedule of Components of Income Tax Expense (Benefit)
CurrentDeferredTotal
Year ended December 31, 2024:
United States federal$13,591 $(6,881)$6,710 
United States state and local5,782 973 6,755 
Non-United States159,926 692 160,618 
Total$179,299 $(5,216)$174,083 
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 
Schedule of Effective Income Tax Rate Reconciliation
202420232022
Expected tax$217,817 $204,483 $224,825 
United States state and local income taxes, net of federal income tax benefit5,504 6,858 5,132 
Non-United States income taxes at other than U.S. federal rate(21,489)(14,611)(3,055)
Excess tax benefits from stock option exercises(11,875)(13,674)(22,965)
Benefit related to the settlement of a tax audit(22,982)— — 
Other, net7,108 1,894 (5,847)
Total provision for taxes$174,083 $184,950 $198,090 
Schedule of Deferred Tax Assets and Liabilities
20242023
Deferred tax assets:  
Inventory$26,803 $24,969 
Lease liability, accrued and other liabilities100,030 92,601 
Accrued post-retirement benefit and pension costs27,972 34,015 
Net operating loss and other tax carryforwards44,464 43,036 
Swiss tax reform intangible assets51,662 55,767 
Other10,460 6,726 
Total deferred tax assets261,391 257,114 
Less valuation allowance(73,171)(73,460)
Total deferred tax assets less valuation allowance188,220 183,654 
Deferred tax liabilities:  
Inventory10,416 12,095 
Lease right-of-use assets and other assets25,990 26,510 
Property, plant, and equipment85,189 83,326 
Acquired intangibles amortization64,627 62,479 
Prepaid post-retirement benefit and pension costs43,547 49,918 
International earnings16,367 19,641 
Unrealized currency gains11,451 7,165 
Total deferred tax liabilities257,587 261,134 
Net deferred tax (liability) asset$(69,367)$(77,480)
Schedule of Unrecognized Tax Benefits Rollforward
20242023
Unrecognized tax benefits at beginning of year$58,225 $50,822 
Increases related to current tax positions10,399 5,867 
Decreases related to prior year tax positions(1,169)(2,641)
Decreases related to the settlement of a tax audit(19,980)— 
Impact of foreign currency(2,040)4,177 
Unrecognized tax benefits at end of year$45,435 $58,225 
v3.25.0.1
Leases (Tables)
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Leases [Abstract]    
Lessee, Operating Leases, Statement of Position location and balances [Table Text Block]
20242023Balance Sheet Location
Right-of-use assets, net$112,735 $114,392 Other non-current assets
Current lease liability$29,815 $28,516 Accrued and other liabilities
Non-current lease liability87,370 86,930 Other non-current liabilities
Total operating lease liability$117,185 $115,446 
  
Lease, Cost [Table Text Block]
202420232022
Operating lease expense$39,424$37,849$37,145 
Variable lease expense9,8417,0224,649 
Short-term lease expense1,2281,004958 
Total lease expense$50,493$45,875$42,752 
Weighted average remaining lease term5.9 years6.5 years7.9 years
Weighted average discount rate4.4%4.0%2.9 %
  
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:
2025$34,356 
202627,642 
202719,210 
202813,043 
20298,940 
Thereafter30,520 
Total lease payments133,711 
Less imputed interest(16,526)
Total operating lease liability$117,185 
v3.25.0.1
Segment Reporting (Tables)
 12 Months Ended
Dec. 31, 2024
Segment Reporting [Abstract]  
Schedule of Segment Reporting Information, by Segment [Table Text Block]
The following tables show the operations of the Company’s reportable segments:
Year ended December 31, 2024U.S. OperationsSwiss OperationsWestern European OperationsChinese Operations
Other Operations(a)
Eliminations and Corporate(b)
Total
Net sales to external customers$1,429,502 $218,580 $858,002 $628,447 $737,830 $— $3,872,361 
Net sales to other segments153,759 801,749 185,321 320,196 21,738 (1,482,763)— 
Total net sales1,583,261 1,020,329 1,043,323 948,643 759,568 (1,482,763)3,872,361 
Segment cost of sales(c)
690,498 498,505 486,823 422,130 421,489 
Segment period expense(d)
499,698 241,178 350,199 180,713 213,895 
Unallocated expense / eliminations150,073 
Segment profit$393,065 $280,646 $206,301 $345,800 $124,184 $(150,073)$1,199,923 
Year ended December 31, 2023U.S. OperationsSwiss OperationsWestern European OperationsChinese Operations
Other Operations(a)
Eliminations and Corporate(b)
Total
Net sales to external customers$1,403,919 $188,679 $792,907 $718,818 $683,986 $— $3,788,309 
Net sales to other segments137,192 761,114 188,963 278,027 20,600 (1,385,896)— 
Total net sales1,541,111 949,793 981,870 996,845 704,586 (1,385,896)3,788,309 
Segment cost of sales(c)
689,004 436,494 455,596 448,341 400,634 
Segment period expense(d)
487,055 231,818 347,601 181,410 197,714 
Unallocated expense / eliminations146,642 
Segment profit$365,052 $281,481 $178,673 $367,094 $106,238 $(146,642)$1,151,896 
Year ended December 31, 2022U.S. OperationsSwiss OperationsWestern European OperationsChinese Operations
Other Operations(a)
Eliminations and Corporate(b)
Total
Net sales to external customers$1,444,460 $176,119 $799,931 $841,526 $657,673 $— $3,919,709 
Net sales to other segments156,884 839,951 196,900 308,164 3,959 (1,505,858)— 
Total net sales1,601,344 1,016,070 996,831 1,149,690 661,632 (1,505,858)3,919,709 
Segment cost of sales(c)
736,798 487,642 488,153 530,270 380,360 
Segment period expense(d)
506,744 218,584 334,326 195,258 190,950 
Unallocated expense / eliminations164,023 
Segment profit$357,802 $309,844 $174,352 $424,162 $90,322 $(164,023)$1,192,459 
(a)Other Operations 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.
(c)Segment cost of sales includes variable production and other costs.
(d)Segment period expense includes certain manufacturing, field service costs, research and development, and selling, general and administrative costs.
A reconciliation of segment profit to earnings before taxes follows:
202420232022
Segment profit1,199,923 1,151,896 1,192,459 
Amortization(72,869)(72,213)(66,239)
Interest expense(74,631)(77,366)(55,392)
Restructuring charges(19,771)(32,735)(9,556)
Other income, net4,571 4,146 9,320 
Earnings before taxes1,037,223 973,728 1,070,592 
The following tables show the additional disclosures for the Company’s reportable segments:
Year ended December 31, 2024U.S. OperationsSwiss OperationsWestern European OperationsChinese Operations
Other Operations(a)
Eliminations and Corporate(b)
Total
Depreciation$16,970 $7,086 $5,339 $9,434 $5,353 $6,170 $50,352 
Total assets$4,081,688 $3,780,506 $1,505,017 $854,023 $416,314 $(7,397,549)$3,239,999 
Purchase of property, plant, and equipment$(16,542)$(9,504)$(6,340)$(14,355)$(11,683)$(45,474)$(103,898)
Goodwill$532,394 $25,601 $97,426 $597 $12,896 $— $668,914 
Year ended December 31, 2023U.S. OperationsSwiss OperationsWestern European OperationsChinese Operations
Other Operations(a)
Eliminations and Corporate(b)
Total
Depreciation$15,863 $7,017 $5,351 $9,609 $4,297 $6,814 $48,951 
Total assets$3,848,003 $3,554,911 $1,533,297 $989,955 $408,200 $(6,978,811)$3,355,555 
Purchase of property, plant, and equipment$(36,269)$(8,030)$(5,052)$(10,133)$(12,380)$(33,459)$(105,323)
Goodwill$526,392 $27,532 $101,653 $621 $13,910 $— $670,108 
Year ended December 31, 2022U.S. OperationsSwiss OperationsWestern European OperationsChinese Operations
Other Operations(a)
Eliminations and Corporate(b)
Total
Depreciation$14,582 $6,644 $4,970 $9,699 $4,176 $6,713 $46,784 
Total assets$3,574,842 $2,968,539 $1,314,332 $1,234,303 $388,639 $(5,988,260)$3,492,395 
Purchase of property, plant, and equipment$(55,464)$(7,690)$(5,110)$(12,418)$(6,268)$(34,291)$(121,241)
Goodwill$524,470 $25,058 $96,077 $641 $13,924 $— $660,170 
(a)Other Operations 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.
Schedule of Revenue from External Customers and Long-Lived Assets, by Geographical Areas [Table Text Block] 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
 20242023202220242023
United States$1,358,761 $1,346,468 $1,363,335 $216,317 $224,696 
Other Americas247,531 221,742 219,158 12,485 13,152 
Total Americas1,606,292 1,568,210 1,582,493 228,802 237,848 
Germany236,292 221,482 219,813 31,320 36,123 
France152,821 139,304 147,430 19,706 22,684 
United Kingdom84,438 79,455 85,382 28,056 30,651 
Switzerland93,599 91,564 80,891 310,775 332,136 
Other Europe533,249 483,693 480,844 25,969 19,285 
Total Europe1,100,399 1,015,498 1,014,360 415,826 440,879 
China621,794 707,592 823,842 89,733 87,972 
Rest of World543,876 497,009 499,014 35,919 36,675 
Total Asia/Rest of World1,165,670 1,204,601 1,322,856 125,652 124,647 
Total$3,872,361 $3,788,309 $3,919,709 $770,280 $803,374 
v3.25.0.1
Summary of Significant Accounting Policies (Tables)
 12 Months Ended
Dec. 31, 2024
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. We have received the maximum allowable funding of $35.8 million related to the agreement during prior years, which offset associated capital expenditures. In accordance with ASU 2021-10: Government Assistance, the Company applies guidance within IAS 20 - Accounting for Government Grants and Disclosure and accounts for the government agreement by reducing the cost of the asset within property, plant, and equipment in the consolidated balance sheets by the amount of the funds received.
v3.25.0.1
Summary of Significant Accounting Policies 2 (Details) - shares
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Property, Plant and Equipment Useful Life      
Incremental Common Shares Attributable to Share-based Payment Arrangements 98,803 123,406 226,500
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount 61,040 54,840 42,855
Capitalized Software Costs [Member]      
Property, Plant and Equipment Useful Life      
Property, Plant and Equipment, Useful Life 10 years    
Minimum [Member] | Building and Building Improvements      
Property, Plant and Equipment Useful Life      
Property, Plant and Equipment, Useful Life 15 years    
Minimum [Member] | Machinery and Equipment      
Property, Plant and Equipment Useful Life      
Property, Plant and Equipment, Useful Life 3 years    
Minimum [Member] | Software      
Property, Plant and Equipment Useful Life      
Property, Plant and Equipment, Useful Life 3 years    
Maximum [Member] | Building and Building Improvements      
Property, Plant and Equipment Useful Life      
Property, Plant and Equipment, Useful Life   50 years  
Maximum [Member] | Machinery and Equipment      
Property, Plant and Equipment Useful Life      
Property, Plant and Equipment, Useful Life   12 years  
Maximum [Member] | Software      
Property, Plant and Equipment Useful Life      
Property, Plant and Equipment, Useful Life   10 years  
v3.25.0.1
Revenue from Contracts with Customers (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Disaggregation of Revenue [Line Items]        
Revenue from Contract with Customer, Excluding Assessed Tax $ 3,872,361 $ 3,788,309 $ 3,919,709  
Net Sales 3,872,361 3,788,309 3,919,709  
Revenues 3,872,361 3,788,309 3,919,709  
Contract with Customer, Asset, after Allowance for Credit Loss 32,600 35,700    
Contract with Customer, Liability 204,166 202,022 192,759 $ 192,648
Customer prepayments and deferred revenue 656,890 670,178 731,482  
Contract with Customer, Liability, Revenue Recognized (643,067) (663,165) (720,362)  
Temporary Equity, Foreign Currency Translation Adjustments (11,679) 2,250 (11,009)  
Product [Member]        
Disaggregation of Revenue [Line Items]        
Revenues 2,930,228 2,906,661 3,118,721  
Product [Member] | Transferred at Point in Time [Member]        
Disaggregation of Revenue [Line Items]        
Revenue from Contract with Customer, Excluding Assessed Tax 2,930,228 2,906,661 3,118,721  
Service [Member]        
Disaggregation of Revenue [Line Items]        
Revenues 942,133 881,648 800,988  
Service [Member] | Transferred at Point in Time [Member]        
Disaggregation of Revenue [Line Items]        
Revenue from Contract with Customer, Excluding Assessed Tax 684,220 655,835 588,135  
Service [Member] | Transferred over Time [Member]        
Disaggregation of Revenue [Line Items]        
Revenue from Contract with Customer, Excluding Assessed Tax $ 257,913 225,813 212,853  
Laboratory products and services [Member]        
Disaggregation of Revenue [Line Items]        
Percentage of Disaggregated Revenue in Relationship to Segments 56.00%      
Revenue from Contract with Customer, Excluding Assessed Tax $ 2,185,979      
Revenues   2,068,807 2,230,381  
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 $ 1,490,026      
Revenues   1,490,445 1,510,554  
Retail products and services [Member]        
Disaggregation of Revenue [Line Items]        
Percentage of Disaggregated Revenue in Relationship to Segments 5.00%      
Revenue from Contract with Customer, Excluding Assessed Tax $ 196,356      
Revenues   229,057 178,774  
US Operations [Member]        
Disaggregation of Revenue [Line Items]        
Revenue from Contract with Customer, Excluding Assessed Tax 1,429,502 1,403,919 1,444,460  
US Operations [Member] | Product [Member] | Transferred at Point in Time [Member]        
Disaggregation of Revenue [Line Items]        
Revenue from Contract with Customer, Excluding Assessed Tax 1,042,479 1,039,766 1,113,983  
US Operations [Member] | Service [Member] | Transferred at Point in Time [Member]        
Disaggregation of Revenue [Line Items]        
Revenue from Contract with Customer, Excluding Assessed Tax 290,266 279,234 256,837  
US Operations [Member] | Service [Member] | Transferred over Time [Member]        
Disaggregation of Revenue [Line Items]        
Revenue from Contract with Customer, Excluding Assessed Tax 96,757 84,919 73,640  
Swiss Operations [Member]        
Disaggregation of Revenue [Line Items]        
Revenue from Contract with Customer, Excluding Assessed Tax 218,580 188,679 176,119  
Swiss Operations [Member] | Product [Member] | Transferred at Point in Time [Member]        
Disaggregation of Revenue [Line Items]        
Revenue from Contract with Customer, Excluding Assessed Tax 174,484 147,792 139,490  
Swiss Operations [Member] | Service [Member] | Transferred at Point in Time [Member]        
Disaggregation of Revenue [Line Items]        
Revenue from Contract with Customer, Excluding Assessed Tax 31,746 29,917 27,800  
Swiss Operations [Member] | Service [Member] | Transferred over Time [Member]        
Disaggregation of Revenue [Line Items]        
Revenue from Contract with Customer, Excluding Assessed Tax 12,350 10,970 8,829  
Western European Operations [Member]        
Disaggregation of Revenue [Line Items]        
Revenue from Contract with Customer, Excluding Assessed Tax 858,002 792,907 799,931  
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 593,502 542,707 581,168  
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 176,459 170,343 134,781  
Western European Operations [Member] | Service [Member] | Transferred over Time [Member]        
Disaggregation of Revenue [Line Items]        
Revenue from Contract with Customer, Excluding Assessed Tax 88,041 79,857 83,982  
Chinese Operations [Member]        
Disaggregation of Revenue [Line Items]        
Revenue from Contract with Customer, Excluding Assessed Tax 628,447 718,818 841,526  
Chinese Operations [Member] | Product [Member] | Transferred at Point in Time [Member]        
Disaggregation of Revenue [Line Items]        
Revenue from Contract with Customer, Excluding Assessed Tax 565,118 656,834 777,276  
Chinese Operations [Member] | Service [Member] | Transferred at Point in Time [Member]        
Disaggregation of Revenue [Line Items]        
Revenue from Contract with Customer, Excluding Assessed Tax 45,587 45,127 46,931  
Chinese Operations [Member] | Service [Member] | Transferred over Time [Member]        
Disaggregation of Revenue [Line Items]        
Revenue from Contract with Customer, Excluding Assessed Tax 17,742 16,857 17,319  
Other Operations [Member]        
Disaggregation of Revenue [Line Items]        
Revenue from Contract with Customer, Excluding Assessed Tax 737,830 683,986 657,673  
Other Operations [Member] | Product [Member] | Transferred at Point in Time [Member]        
Disaggregation of Revenue [Line Items]        
Revenue from Contract with Customer, Excluding Assessed Tax 554,645 519,562 506,804  
Other Operations [Member] | Service [Member] | Transferred at Point in Time [Member]        
Disaggregation of Revenue [Line Items]        
Revenue from Contract with Customer, Excluding Assessed Tax 140,162 131,214 121,786  
Other Operations [Member] | Service [Member] | Transferred over Time [Member]        
Disaggregation of Revenue [Line Items]        
Revenue from Contract with Customer, Excluding Assessed Tax $ 43,023 $ 33,210 $ 29,083  
v3.25.0.1
Acquisitions Business Combinations (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Business Acquisition [Line Items]      
Payment for Contingent Consideration Liability, Financing Activities $ 0 $ 7,767 $ 7,912
Goodwill, Acquired During Period 5,897 2,810  
Amortization of Intangible Assets 27,100 27,600 26,500
Asset Acquisition, Contingent Consideration [Line Items]      
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill 2,500    
Other Acquisitions [Member]      
Business Acquisition [Line Items]      
Business Combination, Consideration Transferred 10,100 5,800 38,000
Asset Acquisition, Contingent Consideration [Line Items]      
Business Combination, Consideration Transferred $ 10,100 $ 5,800 $ 38,000
v3.25.0.1
Inventories (Details) - USD ($)
$ in Thousands
Dec. 31, 2024
Dec. 31, 2023
INVENTORIES [Abstract]    
Raw Materials and Supplies $ 161,416 $ 180,352
Work in Process 69,488 81,181
Finished Goods 111,370 124,332
Inventory, Net $ 342,274 $ 385,865
v3.25.0.1
Financial Instruments (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Derivative Instruments, Gain (Loss) [Line Items]      
Long Term Debt Percentage Bearing Fixed Interest Percentage 73.00%    
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 $ 5,500    
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 788,600 793,900  
Gain (Loss) on Foreign Currency Derivative Instruments Not Designated as Hedging Instruments $ (2,000) $ 19,700 $ 21,600
v3.25.0.1
Fair Value Measurements (Details) - USD ($)
$ in Thousands
Dec. 31, 2024
Dec. 31, 2023
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Derivative Asset, Fair Value, Gross Asset $ 9,200 $ 8,300
Derivative Liability, Statement of Financial Position [Extensible Enumeration] Accrued and other liabilities Accrued and other liabilities
Derivative Liability $ 8,500 $ 25,200
Cash Equivalents, at Carrying Value 3,700 4,000
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 9,202 8,330
Derivative Liability, Fair Value, Gross Liability 8,541 25,193
Change in Carrying Value Verse Fair Value of Long Term Debt 202,600  
Foreign Currency Derivative Instruments Not Designated as Hedging Instruments, Asset at Fair Value 7,949 8,330
Foreign Currency Contract, Current Asset, Fair Value 855 0
Foreign Currency Contract, Asset, Fair Value Disclosure 398 0
Foreign Currency Derivative Instruments Not Designated as Hedging Instruments, Liability at Fair Value 4,078 8,245
Foreign Currency Cash Flow Hedge Liability at Fair Value 4,463 14,270
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 $ 0 $ 2,678
v3.25.0.1
Property, Plant and Equipment, Net (Details) - USD ($)
$ in Thousands
Dec. 31, 2024
Dec. 31, 2023
Property, Plant and Equipment    
Property, Plant and Equipment, Gross $ 1,467,190 $ 1,507,208
Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment (696,910) (703,834)
Total Property, Plant and Equipment, Net 770,280 803,374
Land [Member]    
Property, Plant and Equipment    
Property, Plant and Equipment, Gross 61,693 64,870
Building and Building Improvements    
Property, Plant and Equipment    
Property, Plant and Equipment, Gross 404,699 407,836
Machinery and Equipment    
Property, Plant and Equipment    
Property, Plant and Equipment, Gross 511,411 527,038
Software    
Property, Plant and Equipment    
Property, Plant and Equipment, Gross $ 489,387 $ 507,464
v3.25.0.1
Goodwill and Other Intangible Assets (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Goodwill [Roll Forward]    
Goodwill, Beginning $ 670,108 $ 660,170
Goodwill, Acquired During Period 5,897 2,810
Goodwill, Written off Related to Sale of Business Unit (175) 0
Goodwill, Translation Adjustments (6,916) 7,128
Goodwill, Ending $ 668,914 $ 670,108
v3.25.0.1
Goodwill and Other Intangible Assets 1 (Details) - USD ($)
$ in Thousands
Dec. 31, 2024
Dec. 31, 2023
Finite Life and Indefinite Life Intangible Assets    
Intangible Assets, Net (Excluding Goodwill) $ 257,143 $ 285,429
Intangible Assets Excluding Goodwill Gross 468,516 480,871
Intangible Assets Accumulated Amortization (211,373) (195,442)
Customer Relationships [Member]    
Finite Life and Indefinite Life Intangible Assets    
Finite-Lived Intangible Assets, Gross 289,178 294,180
Finite-Lived Intangible Assets, Accumulated Amortization (116,812) (107,665)
Intangible Assets, Net (Excluding Goodwill) 172,366 186,515
Proven technology and patents    
Finite Life and Indefinite Life Intangible Assets    
Finite-Lived Intangible Assets, Gross 123,971 129,227
Finite-Lived Intangible Assets, Accumulated Amortization (80,634) (75,014)
Intangible Assets, Net (Excluding Goodwill) 43,337 54,213
Tradename (Finite Life)    
Finite Life and Indefinite Life Intangible Assets    
Finite-Lived Intangible Assets, Gross 7,853 7,908
Finite-Lived Intangible Assets, Accumulated Amortization (5,308) (4,535)
Intangible Assets, Net (Excluding Goodwill) 2,545 3,373
Tradename (Indefinite Life)    
Finite Life and Indefinite Life Intangible Assets    
Intangible Assets, Net (Excluding Goodwill) 35,088 36,320
Indefinite-lived Intangible Assets (Excluding Goodwill) 35,088 36,320
Other Intangible Assets [Member]    
Finite Life and Indefinite Life Intangible Assets    
Finite-Lived Intangible Assets, Gross 12,426 13,236
Finite-Lived Intangible Assets, Accumulated Amortization (8,619) (8,228)
Intangible Assets, Net (Excluding Goodwill) $ 3,807 $ 5,008
v3.25.0.1
Goodwill and Other Intangible Assets Narrative (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Amortization of Intangible Assets $ 27.1 $ 27.6 $ 26.5
Future Amortization Expense, Year One 26.0    
Future Amortization Expense, Year Two 22.0    
Future Amortization Expense, Year Three 20.7    
Future Amortization Expense, Year Four 19.4    
Future Amortization Expense, Year Five 17.6    
Amortization Of Acquired Intangible Asset Net Of Tax 25.9 26.4 25.5
Purchased Intangibles, Net of Tax 20.1 20.5 19.8
Capitalized Computer Software, Amortization $ 45.6 $ 44.4 $ 39.6
Minimum [Member]      
Finite-Lived Intangible Assets, Useful Life, Minimum 3 years    
Maximum [Member]      
Finite-Lived Intangible Assets, Useful Life, Minimum 45 years    
v3.25.0.1
Debt - Schedule of Debt (Details)
 12 Months Ended
Dec. 31, 2024
USD ($)
Rate
Dec. 31, 2024
Dec. 31, 2024
Rate
Dec. 31, 2024
EUR (€)
Dec. 31, 2023
USD ($)
Debt Instrument [Line Items]          
Senior Notes $ 1,220,647,000       $ 1,370,916,000
Debt issuance costs, net (4,260,000)       (4,019,000)
Other Borrowings 63,038,000       71,478,000
Total debt 2,013,888,000       2,080,839,000
Less: current portion (182,623,000)       (192,219,000)
Long-term debt 1,831,265,000       1,888,620,000
Line of Credit Facility, Maximum Borrowing Capacity $ 1,350,000,000       1.25
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) $ 730,203,000       638,445,000
Debt Instrument, Maturity Date Jun. 15, 2023        
Debt Instrument, Basis Spread on Variable Rate | Rate 0.875%        
Line of Credit Facility, Remaining Borrowing Capacity $ 615,300,000        
3.67% Senior Notes [Member]          
Debt Instrument [Line Items]          
Senior Notes $ 50,000,000        
Debt Instrument, Interest Rate, Stated Percentage   3.67%      
Debt Instrument, Maturity Date Dec. 17, 2022        
3.8% Euro Senior Notes [Member]          
Debt Instrument [Line Items]          
Senior Notes | €       € 100,000  
Debt Instrument, Interest Rate, Stated Percentage | Rate     3.80%    
5.45 Percent Senior Notes          
Debt Instrument [Line Items]          
Senior Notes $ 150,000,000        
Debt Instrument, Interest Rate, Stated Percentage   5.45% 5.45%    
4.10% Senior Notes [Member]          
Debt Instrument [Line Items]          
Senior Notes $ 50,000,000        
Debt Instrument, Interest Rate, Stated Percentage   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 $ 0       125,000,000
Debt Instrument, Interest Rate, Stated Percentage   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%      
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%      
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     50,000,000 50,000,000
Debt Instrument, Interest Rate, Stated Percentage   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 $ 129,840,000     125,000,000 137,966,000
Debt Instrument, Interest Rate, Stated Percentage   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 $ 140,227,000     135,000,000 149,003,000
Debt Instrument, Interest Rate, Stated Percentage   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 129,840,000     € 125,000,000 137,966,000
Debt Instrument, Interest Rate, Stated Percentage   1.06%      
5.45% Senior Notes          
Debt Instrument [Line Items]          
Senior Notes 150,000,000       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
v3.25.0.1
Debt - Narrative (Details)
€ in Thousands, SFr in Millions
 12 Months Ended
Dec. 31, 2024
USD ($)
Rate
Dec. 31, 2023
USD ($)
Dec. 31, 2022
USD ($)
Dec. 31, 2024
EUR (€)
Rate
Dec. 31, 2024
CHF (SFr)
Rate
Debt Instrument [Line Items]          
Debt, Weighted Average Interest Rate | Rate 3.60%     3.60% 3.60%
Senior Notes $ 1,220,647,000 $ 1,370,916,000      
Other Comprehensive Income (Loss), Net Investment Hedge, Gain (Loss), Reclassification, before Tax 25,000,000.0 12,900,000 $ 24,600,000    
Cumulative (gain) loss in other other comprehensive income related to the change in a net investment hedge. 42,300,000        
Line of Credit Facility, Maximum Borrowing Capacity $ 1,350,000,000 1.25      
Debt Instrument, Covenant Compliance The Company was in compliance with its covenants at December 31, 2024.        
Debt Issuance Costs, Gross $ 4,300,000        
Line of Credit [Member]          
Debt Instrument [Line Items]          
Line of Credit Facility, Remaining Borrowing Capacity $ 615,300,000        
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 $ 129,840,000 137,966,000   € 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 $ 140,227,000 149,003,000   € 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 $ 129,840,000 137,966,000   € 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%
v3.25.0.1
Shareholders' Equity Other Comprehensive Income Rollforward (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Accumulated Other Comprehensive Income (Loss) [Line Items]        
Accumulated Other Comprehensive Income (Loss), Net of Tax $ (345,858) $ (319,815) $ (227,233) $ (255,224)
Other Comprehensive (Income) Loss, Defined Benefit Plan, before Reclassification Adjustment, after Tax (26,769) (48,800) 70,663  
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), after Reclassification, before Tax 19,836 (12,372) 10,029  
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment, Net of Tax (5,037) (46,128) (60,204)  
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax   14,718    
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI on Derivatives, Net of Tax     5,775  
Reclassification from AOCI, Current Period, Net of Tax, Attributable to Parent (14,073)   7,503  
Other Comprehensive Income (Loss), Net of Tax (26,043) (92,582) 27,991  
Accumulated Foreign Currency Adjustment Attributable to Parent [Member]        
Accumulated Other Comprehensive Income (Loss) [Line Items]        
Accumulated Other Comprehensive Income (Loss), Net of Tax (133,503) (117,230) (82,864) (19,566)
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 (16,273) (34,366) (63,298)  
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 (16,273) (34,366) (63,298)  
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 (3,920) 120 4,256 2
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 19,836 (12,372) 10,029  
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 (23,876) 8,236    
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI on Derivatives, Net of Tax     (5,775)  
Other Comprehensive Income (Loss), Net of Tax (4,040) (4,136) 4,254  
Accumulated Defined Benefit Plans Adjustment Attributable to Parent [Member]        
Accumulated Other Comprehensive Income (Loss) [Line Items]        
Accumulated Other Comprehensive Income (Loss), Net of Tax (208,435) (202,705) (148,625) $ (235,660)
Other Comprehensive (Income) Loss, Defined Benefit Plan, before Reclassification Adjustment, after Tax (26,769) (48,800) 70,663  
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 11,236 (11,762) 3,094  
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax 9,803      
Other Comprehensive (Income) Loss, Defined Benefit Plan, Reclassification Adjustment from AOCI, after Tax   6,482 13,278  
Other Comprehensive Income (Loss), Net of Tax $ (5,730) $ (54,080) $ 87,035  
v3.25.0.1
Shareholders' Equity Amounts recognized from accumulated other comprehensive income (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Stockholders' Equity Note [Abstract]      
Interest Rate Cash Flow Hedge Gain (Loss) Reclassified to Earnings, Net $ 0 $ 0 $ 352
Cross Currency Cash Flow Hedge Gain (Loss) Reclassified to Earnings, Net (29,476) 10,168 (7,454)
Derivative Instruments, Gain (Loss) Reclassified from Accumulated OCI into Income, Effective Portion, Net 29,476 (10,168) 7,102
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), before Reclassification, Tax (5,600) 1,932  
Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Derivatives Arising During Period, Tax     (1,327)
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), after Reclassification and Tax 23,876 (8,236)  
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI on Derivatives, Net of Tax     (5,775)
Amortization of actuarial (gains) losses and plan amendments and prior service cost 12,371 8,240 16,896
Other Comprehensive (Income) Loss, Defined Benefit Plan, after Reclassification Adjustment, Tax, Attributable to Parent 2,568 1,758 3,618
Other Comprehensive (Income) Loss, Defined Benefit Plan, after Reclassification Adjustment, after Tax $ 9,803 $ 6,482 $ 13,278
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
v3.25.0.1
Shareholders' Equity Narrative (Details) - USD ($)
$ / shares in Units, $ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Common Stock, Number of Shares, Par Value and Other Disclosure [Abstract]      
Cross Currency Swap interest portion recognized in income $ (18,100) $ 21,100 $ 2,700
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 3,387,431    
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 $ 1,700,000    
Shares Repurchased Under Share Repurchase Program 32,400,000    
Share Repurchase Program, Total Cost Program to Date $ 9,800,000    
Repurchases of Common Stock, Value $ (849,997) $ (900,000) $ (1,099,998)
Repurchases of Common Stock, Shares 645,139 691,913 838,010
Treasury Stock Acquired, Average Cost Per Share $ 1,317.52 $ 1,300.72 $ 1,312.61
Exercise of stock options and restricted stock units, shares 68,428 79,076 133,916
Cross Currency Swap Revaluation Portion Recognized in Earnings $ (11,400) $ 10,900 $ 4,800
v3.25.0.1
Equity Incentive Plan Rollforward of Stock Options (Details) - USD ($)
$ / shares in Units, $ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Share-Based Payment Arrangement [Abstract]    
Options, Outstanding, Number, Beginning 259,958  
Options, Grants in Period, Net of Forfeitures 17,170  
Options, Exercises in Period (59,443)  
Options, Forfeitures in Period (372)  
Options, Expirations in Period (36)  
Options, Outstanding, Number, Ending 217,277  
Options, Exercisable, Number 156,503  
Aggregate Intrinsic Value [Abstract]    
Options, Outstanding, Intrinsic Value $ 79.6 $ 127.2
Options, Exercisable, Intrinsic Value $ 74.7  
Weighted Average Exercise Price [Abstract]    
Options, Outstanding, Weighted Average Exercise Price, Beginning $ 743.30  
Options, Grants in Period, Weighted Average Exercise Price 1,260.97  
Options, Exercises in Period, Weighted Average Exercise Price 382.69  
Options, Forfeitures in Period, Weighted Average Exercise Price 1,225.87  
Options, Expirations in Period, Weighted Average Exercise Price 1,484.4  
Options, Outstanding, Weighted Average Exercise Price, Ending 881.92  
Options, Exercisable, Weighted Average Exercise Price $ 765.33  
v3.25.0.1
Equity Incentive Plan Weighted Average Remaining Contractual Life (Details) - $ / shares
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Share-based Compensation Arrangement by Share-based Payment Award    
Options, Outstanding, Number 217,277 259,958
Options, Outstanding, Weighted Average Exercise Price $ 881.92 $ 743.30
Options, Outstanding, Weighted Average Remaining Contractual Term 5 years 5 months 15 days  
Options, Exercisable, Number 156,503  
$1.00-$450.00 Range of Exercise Price    
Share-based Compensation Arrangement by Share-based Payment Award    
Options, Outstanding, Number 85,762  
Options, Outstanding, Weighted Average Exercise Price $ 556.79  
Options, Outstanding, Weighted Average Remaining Contractual Term 2 years 10 months 6 days  
Options, Exercisable, Number 85,762  
$450.0-$1000.0 Range of Exercise Price    
Share-based Compensation Arrangement by Share-based Payment Award    
Options, Outstanding, Number 53,015  
Options, Outstanding, Weighted Average Exercise Price $ 903.76  
Options, Outstanding, Weighted Average Remaining Contractual Term 5 years 4 months 2 days  
Options, Exercisable, Number 47,021  
$1000.0 and above Range of Exercise Price    
Share-based Compensation Arrangement by Share-based Payment Award    
Options, Outstanding, Number 78,500  
Options, Outstanding, Weighted Average Exercise Price $ 1,222.38  
Options, Outstanding, Weighted Average Remaining Contractual Term 8 years 4 months 28 days  
Options, Exercisable, Number 23,720  
v3.25.0.1
Equity Incentive Plan Weighted Average Grant Date Fair Value (Details)
 12 Months Ended
Dec. 31, 2024
Rate
Dec. 31, 2023
Rate
Dec. 31, 2022
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 4.31% 4.64% 4.35%
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Term 6 years 9 months 18 days 6 years 8 months 12 days 6 years 4 months 24 days
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Volatility Rate 28.00% 27.00% 26.00%
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 4.24% 4.71% 4.58%
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 28.00% 27.00% 26.00%
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Dividend Rate 0.00% 0.00% 0.00%
v3.25.0.1
Equity Incentive Plan RSUs and PSUs Rollforward (Details) - $ / shares
$ / shares in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Share-Based Payment Arrangement [Abstract]    
Restricted Stock Units, Nonvested, Intrinsic Value $ 31.1 $ 32.4
Performance Stock Units, Grants in Period 3,149  
Performance Share Unit, Nonvested, Number of Shares 10,415 10,411
Performance Share units, Nonvested, Intrinsic Value $ 12.7 $ 12.6
Share Based Compensation, Performance Shares Vested in the Period (98)  
Share Based Compensation, Performance Shares Forfeited in the period 0  
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 26,739  
Restricted Stock Units, Grants in Period 9,649  
Share Based Compensation, Performance Shares Vested in the Period for Vesting of 2016 PUs (3,047)  
Restricted Stock Units, Vested in Period (8,889)  
Restricted Stock Units, Forfeited in Period (2,071)  
Restricted Stock Units, Nonvested, Number, Ending 25,428  
v3.25.0.1
Equity Incentive Plan Narrative (Details) - USD ($)
$ / shares in Units, $ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
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 $ 1,260.96 $ 1,029.48 $ 1,230.18
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Intrinsic Value, Amount Per Share $ 12,200,000 12,800,000 10,800,000
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 $ 494.81 $ 400.30 $ 447.52
Options, Exercises in Period, Total Intrinsic Value $ 62,900 $ 68,700 $ 121,300
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested in Period, Fair Value 8,400    
Restricted Stock Units, Vested in Period, Total Fair Value 8,700 8,600 8,200
Allocated Share-based Compensation Expense for Restricted Stock Units $ 8,300 $ 8,800 $ 7,900
Number of Shares Available for Grant 2,841,580    
Deferred Compensation Liability, Current and Noncurrent $ 35,700    
Estimated Weighted Average Amortization Period 2 years    
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 $ 1,153.99 $ 1,103.23 $ 1,357.26
Performance Share Unit Total Grant Value $ 3,600    
Allocated Share-based compensation expense for PSUs $ 3,300 $ 3,100 $ 4,000
v3.25.0.1
Benefit Plans Change in Benefit Benefit Obligation and Plan Assets (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Defined Benefit Plan Disclosure [Line Items]      
Defined Benefit Plan, Benefit Obligation $ 1,025,271 $ 1,026,481 $ 896,258
Defined Benefit Plans, Service Cost and Other $ 36,990 $ 34,314  
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 $ 22,584 $ 25,042 8,635
Defined Benefit Plan, Benefit Obligation, Actuarial Gain (Loss) 63,104 66,658  
Defined Benefit Plan, Benefit Obligation, Increase (Decrease) for Plan Amendment 101 0  
Defined Benefit Plan, Benefit Obligation, Benefits Paid 61,780 62,097  
Defined Benefit Plan, Benefit Obligation, Foreign Currency Translation Gain (Loss) (62,209) 66,306  
Defined Benefit Plan, Plan Assets, Amount 1,087,949 1,096,238 982,206
Defined Benefit Plan, Plan Assets, Increase (Decrease) for Actual Return (Loss) 72,671 45,216  
Defined Benefit Plan, Plan Assets, Contributions by Employer 31,436 26,984  
Defined Benefit Plan, Plan Assets, Contributions by Plan Participant 19,287 19,214  
Defined Benefit Plan, Plan Assets, Benefits Paid 61,780 62,097  
Defined Benefit Plan, Plan Assets, Foreign Currency Translation Gain (Loss) (69,903) 84,715  
Defined Benefit Plan, Funded (Unfunded) Status of Plan 62,678 69,757  
Pension Plan [Member] | US Pension Benefits      
Defined Benefit Plan Disclosure [Line Items]      
Defined Benefit Plan, Benefit Obligation 99,881 108,546 110,293
Defined Benefit Plans, Service Cost and Other 1,587 1,155  
Defined Benefit Plan, Interest Cost 4,766 5,023 2,696
Defined Benefit Plan, Benefit Obligation, Actuarial Gain (Loss) (6,473) 552  
Defined Benefit Plan, Benefit Obligation, Increase (Decrease) for Plan Amendment 0 0  
Defined Benefit Plan, Benefit Obligation, Benefits Paid 8,545 8,477  
Defined Benefit Plan, Benefit Obligation, Foreign Currency Translation Gain (Loss) 0 0  
Defined Benefit Plan, Plan Assets, Amount 90,520 86,061 87,341
Defined Benefit Plan, Plan Assets, Increase (Decrease) for Actual Return (Loss) 7,788 7,083  
Defined Benefit Plan, Plan Assets, Contributions by Employer 5,216 114  
Defined Benefit Plan, Plan Assets, Contributions by Plan Participant 0 0  
Defined Benefit Plan, Plan Assets, Benefits Paid 8,545 8,477  
Defined Benefit Plan, Plan Assets, Foreign Currency Translation Gain (Loss) 0 0  
Defined Benefit Plan, Funded (Unfunded) Status of Plan (9,361) (22,485)  
Pension Plan [Member] | Non-US Pension Benefits      
Defined Benefit Plan Disclosure [Line Items]      
Defined Benefit Plan, Benefit Obligation 924,869 917,321 785,295
Defined Benefit Plans, Service Cost and Other 35,403 33,159  
Defined Benefit Plan, Interest Cost 17,792 19,991 5,927
Defined Benefit Plan, Benefit Obligation, Actuarial Gain (Loss) 69,564 65,734  
Defined Benefit Plan, Benefit Obligation, Increase (Decrease) for Plan Amendment 101 0  
Defined Benefit Plan, Benefit Obligation, Benefits Paid 53,103 53,164  
Defined Benefit Plan, Benefit Obligation, Foreign Currency Translation Gain (Loss) (62,209) 66,306  
Defined Benefit Plan, Plan Assets, Amount 997,429 1,010,177 894,865
Defined Benefit Plan, Plan Assets, Increase (Decrease) for Actual Return (Loss) 64,883 38,133  
Defined Benefit Plan, Plan Assets, Contributions by Employer 26,088 26,414  
Defined Benefit Plan, Plan Assets, Contributions by Plan Participant 19,287 19,214  
Defined Benefit Plan, Plan Assets, Benefits Paid 53,103 53,164  
Defined Benefit Plan, Plan Assets, Foreign Currency Translation Gain (Loss) (69,903) 84,715  
Defined Benefit Plan, Funded (Unfunded) Status of Plan 72,560 92,856  
Other Postretirement Benefits Plan [Member]      
Defined Benefit Plan Disclosure [Line Items]      
Defined Benefit Plan, Benefit Obligation 521 614 670
Defined Benefit Plans, Service Cost and Other 0 0  
Defined Benefit Plan, Interest Cost 26 28 12
Defined Benefit Plan, Benefit Obligation, Actuarial Gain (Loss) 13 372  
Defined Benefit Plan, Benefit Obligation, Increase (Decrease) for Plan Amendment 0 0  
Defined Benefit Plan, Benefit Obligation, Benefits Paid 132 456  
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 132 456  
Defined Benefit Plan, Plan Assets, Contributions by Plan Participant 0 0  
Defined Benefit Plan, Plan Assets, Benefits Paid 132 456  
Defined Benefit Plan, Plan Assets, Foreign Currency Translation Gain (Loss) 0 0  
Defined Benefit Plan, Funded (Unfunded) Status of Plan $ (521) $ (614)  
v3.25.0.1
Benefit Plans Amounts Recognized in the Balance Sheet (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Defined Benefit Plan Disclosure [Line Items]    
Assets for Plan Benefits, Defined Benefit Plan $ 174,006 $ 202,119
Liability, Defined Benefit Plan, Current 5,434 5,598
Liability, Defined Benefit Plan, Noncurrent 104,925 126,764
Defined Benefit Plan, Accumulated Other Comprehensive (Income) Loss, before Tax 275,242 269,996
Other Comprehensive Income (Loss), Defined Benefit Plan, Gain (Loss), after Reclassification Adjustment, before Tax 338,889 339,753
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 139 124
Liability, Defined Benefit Plan, Noncurrent 9,223 22,361
Defined Benefit Plan, Accumulated Other Comprehensive (Income) Loss, before Tax 36,760 47,631
Other Comprehensive Income (Loss), Defined Benefit Plan, Gain (Loss), after Reclassification Adjustment, before Tax 27,398 25,146
Pension Plan [Member] | Non-US Pension Benefits    
Defined Benefit Plan Disclosure [Line Items]    
Assets for Plan Benefits, Defined Benefit Plan 174,006 202,119
Liability, Defined Benefit Plan, Current 5,201 5,368
Liability, Defined Benefit Plan, Noncurrent 95,276 103,895
Defined Benefit Plan, Accumulated Other Comprehensive (Income) Loss, before Tax 238,408 222,346
Other Comprehensive Income (Loss), Defined Benefit Plan, Gain (Loss), after Reclassification Adjustment, before Tax 311,937 315,202
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 94 106
Liability, Defined Benefit Plan, Noncurrent 426 508
Defined Benefit Plan, Accumulated Other Comprehensive (Income) Loss, before Tax 74 19
Other Comprehensive Income (Loss), Defined Benefit Plan, Gain (Loss), after Reclassification Adjustment, before Tax $ (446) $ (595)
v3.25.0.1
Benefit Plans Total Amounts Recognized in OCI (Details) - USD ($)
$ in Thousands
Dec. 31, 2024
Dec. 31, 2023
Defined Benefit Plan Disclosure [Line Items]    
Defined Benefit Plan, Accumulated Other Comprehensive (Income) Loss, Prior Service Cost (Credit), before Tax $ (16,342) $ (22,031)
Accumulated Other Comprehensive (Income) Loss, Defined Benefit Plan, Prior Service Cost (Credit), after Tax (13,188) (18,212)
Defined Benefit Plan, Accumulated Other Comprehensive Income (Loss), Gain (Loss), before Tax 291,584 292,027
Pension and Other Postretirement Benefit Plans, Accumulated Other Comprehensive Income (Loss), Net Gains (Losses), after tax 232,056 231,446
Defined Benefit Plan, Accumulated Other Comprehensive (Income) Loss, before Tax 275,242 269,996
Accumulated Other Comprehensive (Income) Loss, Defined Benefit Plan, after Tax 218,868 213,234
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 36,760 47,631
Defined Benefit Plan, Accumulated Other Comprehensive (Income) Loss, before Tax 36,760 47,631
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 (16,140) (21,755)
Defined Benefit Plan, Accumulated Other Comprehensive Income (Loss), Gain (Loss), before Tax 254,548 244,101
Defined Benefit Plan, Accumulated Other Comprehensive (Income) Loss, before Tax 238,408 222,346
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 (202) (276)
Defined Benefit Plan, Accumulated Other Comprehensive Income (Loss), Gain (Loss), before Tax 276 295
Defined Benefit Plan, Accumulated Other Comprehensive (Income) Loss, before Tax $ 74 $ 19
v3.25.0.1
Benefit Plans Amounts Recognized in Other Comprehensive Income (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Defined Benefit Plan Disclosure [Line Items]      
Other Comprehensive Income (Loss), Defined Benefit Plan, Gain (Loss) Arising During Period, before Tax $ 32,990    
Other Comprehensive Income (Loss), Defined Benefit Plan, Gain (Loss) Arising During Period, after Tax (26,769)    
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 (16,457)    
Other Comprehensive Income (Loss), Defined Benefit Plan, Gain (Loss), Reclassification Adjustment from AOCI, after Tax (13,060)    
Other Comprehensive (Income) Loss, Defined Benefit Plan, Prior Service Cost (Credit), Reclassification Adjustment from AOCI, before Tax 4,062    
Other Comprehensive Income (Loss), Amortization, Pension and Other Postretirement Benefit Plans, Net Prior Service Cost Recognized in Net Periodic Benefit Cost, after tax 3,257    
Defined Benefit Plans, Impact of FX on Current Year Change in OCI (14,835)    
Impact of foreign currency 11,236 $ (11,762) $ 3,094
Defined Benefit Plan, Changes in OCI Arising During the Period 5,760    
Defined Benefit Plan, Changes in OCI Arising During the Period, net of tax 5,730    
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 (8,789)    
Other Comprehensive (Income) Loss, Defined Benefit Plan, Prior Service Cost (Credit), before Tax 0    
Defined Benefit Plans, Amortization of Gains, Losses and Other Expenses (2,082)    
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 (10,871)    
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 41,766    
Other Comprehensive (Income) Loss, Defined Benefit Plan, Prior Service Cost (Credit), before Tax 0    
Defined Benefit Plans, Amortization of Gains, Losses and Other Expenses (14,343)    
Other Comprehensive (Income) Loss, Defined Benefit Plan, Prior Service Cost (Credit), Reclassification Adjustment from AOCI, before Tax 3,987    
Defined Benefit Plans, Impact of FX on Current Year Change in OCI (14,835)    
Defined Benefit Plan, Changes in OCI Arising During the Period 16,575    
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 13    
Other Comprehensive (Income) Loss, Defined Benefit Plan, Prior Service Cost (Credit), before Tax 0    
Defined Benefit Plans, Amortization of Gains, Losses and Other Expenses (32)    
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 $ 56    
v3.25.0.1
Benefit Plans Weighted Average Rates for PBO (Details) - Pension Plan [Member]
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
US Pension Benefits    
Defined Benefit Plan Disclosure [Line Items]    
Defined Benefit Plan, Assumptions Used Calculating Benefit Obligation, Discount Rate 5.34% 4.68%
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 1.57% 2.07%
Defined Benefit Plan, Assumptions Used Calculating Benefit Obligation, Rate of Compensation Increase 0.81% 0.84%
Defined Benefit Plan, Assumptions Used Calculating the projected benefit obligation, Expected Long-term Return on Assets 4.06% 3.84%
Defined Benefit Plan, Assumptions Used Calculating Net Periodic Benefit Cost, Weighted-Average Interest Crediting Rate 1.50% 1.50%
v3.25.0.1
Benefit Plans Weighted Average Rates for NPPC (Details) - Pension Plan [Member]
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
US Pension Benefits      
Defined Benefit Plan Disclosure [Line Items]      
Defined Benefit Plan, Assumptions Used Calculating Net Periodic Benefit Cost, Discount Rate 4.68% 4.87% 2.57%
Defined Benefit Plan, Assumptions Used Calculating Net Periodic Benefit Cost, Expected Long-term Rate of Return on Plan Assets 6.75% 6.75% 5.75%
Non-US Pension Benefits      
Defined Benefit Plan Disclosure [Line Items]      
Defined Benefit Plan, Assumptions Used Calculating Net Periodic Benefit Cost, Discount Rate 2.07% 2.57% 0.40%
Defined Benefit Plan, Assumptions Used Calculating Net Periodic Benefit Cost, Rate of Compensation Increase 0.84% 0.87% 0.85%
Defined Benefit Plan, Assumptions Used Calculating Net Periodic Benefit Cost, Expected Long-term Rate of Return on Plan Assets 3.84% 3.84% 3.78%
v3.25.0.1
Benefit Plans Net Periodic Pension Costs (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Defined Benefit Plan Disclosure [Line Items]      
Defined Benefit Plan, Service Cost $ 17,703 $ 15,100 $ 20,705
Defined Benefit Plan, Interest Cost 22,584 25,042 8,635
Defined Benefit Plan, Expected Return (Loss) on Plan Assets 42,556 40,207 42,497
Amortization of Actuarial (Gains) Losses and Plan Amendments 12,395 8,177 16,896
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) $ 10,126 $ 8,112 3,739
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 $ 1,587 $ 1,155 1,665
Defined Benefit Plan, Interest Cost 4,766 5,023 2,696
Defined Benefit Plan, Expected Return (Loss) on Plan Assets 5,472 5,532 6,189
Amortization of Actuarial (Gains) Losses and Plan Amendments 2,082 2,192 2,337
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) 2,963 2,838 509
Pension Plan [Member] | Non-US Pension Benefits      
Defined Benefit Plan Disclosure [Line Items]      
Defined Benefit Plan, Service Cost 16,116 13,945 19,040
Defined Benefit Plan, Interest Cost 17,792 19,991 5,927
Defined Benefit Plan, Expected Return (Loss) on Plan Assets 37,084 34,675 36,308
Amortization of Actuarial (Gains) Losses and Plan Amendments 10,356 6,061 14,665
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) 7,180 5,322 3,324
Other Postretirement Benefits Plan [Member]      
Defined Benefit Plan Disclosure [Line Items]      
Defined Benefit Plan, Service Cost 0 0 0
Defined Benefit Plan, Interest Cost 26 28 12
Amortization of Actuarial (Gains) Losses and Plan Amendments (43) (76) (106)
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) $ (17) $ (48) $ (94)
v3.25.0.1
Benefit Plans Pension Fair Value Assets (Details) - USD ($)
$ in Thousands
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Defined Benefit Plan Disclosure [Line Items]      
Defined Benefit Plan, Plan Assets, Amount $ 1,087,949 $ 1,096,238 $ 982,206
Fair Value, Inputs, Level 1 [Member] | Cash and Cash Equivalents      
Defined Benefit Plan Disclosure [Line Items]      
Defined Benefit Plan, Plan Assets, Amount 48,420 48,710  
Fair Value, Inputs, Level 1 [Member] | Company Stock      
Defined Benefit Plan Disclosure [Line Items]      
Defined Benefit Plan, Plan Assets, Amount 2,632 2,606  
Fair Value, Inputs, Level 1 [Member] | U.S. Equity Mutual Funds      
Defined Benefit Plan Disclosure [Line Items]      
Defined Benefit Plan, Plan Assets, Amount 5,948 5,831  
Fair Value, Inputs, Level 1 [Member] | International Equity Mutual Funds      
Defined Benefit Plan Disclosure [Line Items]      
Defined Benefit Plan, Plan Assets, Amount 290,027 294,703  
Fair Value, Inputs, Level 1 [Member] | Emerging Markets Equity Mutual Funds      
Defined Benefit Plan Disclosure [Line Items]      
Defined Benefit Plan, Plan Assets, Amount 20,536 19,941  
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 92,878 91,495  
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 134,891 144,948  
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 62,401 50,109  
Fair Value, Inputs, Level 1 [Member] | Debt Securities [Member]      
Defined Benefit Plan Disclosure [Line Items]      
Defined Benefit Plan, Plan Assets, Amount   45,156  
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 4,505 4,326  
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 669 2,870  
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 704,896 710,695  
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 25,324 24,856  
Fair Value, Inputs, Level 2 [Member] | International Equity Mutual Funds      
Defined Benefit Plan Disclosure [Line Items]      
Defined Benefit Plan, Plan Assets, Amount 9,802 10,314  
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 24,493 25,458  
Fair Value, Inputs, Level 2 [Member] | Fixed Income Mutual Funds, Core Bond      
Defined Benefit Plan Disclosure [Line Items]      
Defined Benefit Plan, Plan Assets, Amount 54,771 57,286  
Fair Value, Inputs, Level 2 [Member] | Real Estate      
Defined Benefit Plan Disclosure [Line Items]      
Defined Benefit Plan, Plan Assets, Amount 183,332 186,804  
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 20,837 22,336  
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 318,559 327,054  
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 2,073 1,972 $ 1,775
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 2,073 1,972  
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 48,420 48,710  
Fair Value, Inputs, Level 1, 2 and 3 [Member] | Company Stock      
Defined Benefit Plan Disclosure [Line Items]      
Defined Benefit Plan, Plan Assets, Amount 2,632 2,606  
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 31,272 30,687  
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 299,829 305,017  
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 20,536 19,941  
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 92,878 91,495  
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 26,566 27,430  
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 189,662 202,234  
Fair Value, Inputs, Level 1, 2 and 3 [Member] | Real Estate      
Defined Benefit Plan Disclosure [Line Items]      
Defined Benefit Plan, Plan Assets, Amount 183,332 186,804  
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 62,401 50,109  
Fair Value, Inputs, Level 1, 2 and 3 [Member] | Debt Securities [Member]      
Defined Benefit Plan Disclosure [Line Items]      
Defined Benefit Plan, Plan Assets, Amount 41,989 45,156  
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 4,505 4,326  
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 669 2,870  
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 1,025,528 1,039,721  
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 6,093 6,444  
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 $ 56,328 $ 50,073  
v3.25.0.1
Benefit Plans Level 3 Rollforward (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Actual return on plan assets:      
Defined Benefit Plan, Plan Assets, Foreign Currency Translation Gain (Loss) $ (69,903) $ 84,715  
Defined Benefit Plan, Plan Assets, Amount 1,087,949 1,096,238 $ 982,206
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 42 31  
Defined Benefit Plan, Purchases, Total 159 91  
Defined Benefit Plan, Plan Assets, Foreign Currency Translation Gain (Loss) (92) 75  
Defined Benefit Plan, Plan Assets, Amount $ 2,073 $ 1,972 $ 1,775
v3.25.0.1
Benefit Plans Future Cash Flows (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Defined Benefit Plan Disclosure [Line Items]      
Defined Benefit Plan, Expected Future Benefit Payment, Next Twelve Months $ 62,054    
Defined Benefit Plan, Expected Future Benefit Payment, Year Two 61,720    
Defined Benefit Plan, Expected Future Benefit Payment, Year Three 63,103    
Defined Benefit Plan, Expected Future Benefit Payment, Year Four 63,653    
Defined Benefit Plan, Expected Future Benefit Payment, Year Five 65,176    
Defined Benefit Plan, Expected Future Benefit Payment, Five Fiscal Years Thereafter $ 306,938    
Pension Plan [Member] | US Pension Benefits      
Defined Benefit Plan Disclosure [Line Items]      
Defined Benefit Plan, Assumptions Used Calculating Benefit Obligation, Discount Rate 5.34% 4.68%  
Defined Benefit Plan, Expected Future Benefit Payment, Next Twelve Months $ 8,769    
Defined Benefit Plan, Expected Future Benefit Payment, Year Two 8,757    
Defined Benefit Plan, Expected Future Benefit Payment, Year Three 8,720    
Defined Benefit Plan, Expected Future Benefit Payment, Year Four 8,665    
Defined Benefit Plan, Expected Future Benefit Payment, Year Five 8,567    
Defined Benefit Plan, Expected Future Benefit Payment, Five Fiscal Years Thereafter $ 39,728    
Defined Benefit Plan, Assumptions Used Calculating Net Periodic Benefit Cost, Discount Rate 4.68% 4.87% 2.57%
Pension Plan [Member] | Non-US Pension Benefits      
Defined Benefit Plan Disclosure [Line Items]      
Defined Benefit Plan, Assumptions Used Calculating Benefit Obligation, Discount Rate 1.57% 2.07%  
Defined Benefit Plan, Expected Future Benefit Payment, Next Twelve Months $ 53,191    
Defined Benefit Plan, Expected Future Benefit Payment, Year Two 52,880    
Defined Benefit Plan, Expected Future Benefit Payment, Year Three 54,310    
Defined Benefit Plan, Expected Future Benefit Payment, Year Four 54,924    
Defined Benefit Plan, Expected Future Benefit Payment, Year Five 56,553    
Defined Benefit Plan, Expected Future Benefit Payment, Five Fiscal Years Thereafter $ 267,027    
Defined Benefit Plan, Assumptions Used Calculating Net Periodic Benefit Cost, Discount Rate 2.07% 2.57% 0.40%
Other Postretirement Benefits Plan [Member]      
Defined Benefit Plan Disclosure [Line Items]      
Defined Benefit Plan, Expected Future Benefit Payment, Next Twelve Months $ 94    
Defined Benefit Plan, Expected Future Benefit Payment, Year Two 83    
Defined Benefit Plan, Expected Future Benefit Payment, Year Three 73    
Defined Benefit Plan, Expected Future Benefit Payment, Year Four 64    
Defined Benefit Plan, Expected Future Benefit Payment, Year Five 56    
Defined Benefit Plan, Expected Future Benefit Payment, Five Fiscal Years Thereafter $ 183    
Other Postretirement Benefits Plan [Member] | US Pension Benefits      
Defined Benefit Plan Disclosure [Line Items]      
Defined Benefit Plan, Assumptions Used Calculating Benefit Obligation, Discount Rate 5.02% 4.49%  
Defined Benefit Plan, Assumptions Used Calculating Net Periodic Benefit Cost, Discount Rate 4.49% 4.67% 1.94%
v3.25.0.1
Benefit Plans Narrative (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Defined Benefit Plan Disclosure [Line Items]      
Defined Contribution Plan, Cost $ 18.7 $ 20.1 $ 22.9
Defined Benefit Plan, Plan with Accumulated Benefit Obligation in Excess of Plan Assets, Accumulated Benefit Obligation 118.0 126.5  
Defined Benefit Plan, Pension Plan with Accumulated Benefit Obligation in Excess of Plan Assets, Projected Benefit Obligation 146.0 137.5  
Defined Benefit Plan, Plan with Accumulated Benefit Obligation in Excess of Plan Assets, Plan Assets $ 51.1 $ 28.2  
Pension Plan [Member] | US Pension Benefits      
Defined Benefit Plan Disclosure [Line Items]      
Defined Benefit Plan, Assumptions Used Calculating Benefit Obligation, Discount Rate 5.34% 4.68%  
Defined Benefit Plan, Accumulated Benefit Obligation $ 99.9 $ 108.5  
Defined Benefit Plan, Expected Future Employer Contributions, Next Fiscal Year $ 0.1    
Defined Benefit Plan, Assumptions Used Calculating Net Periodic Benefit Cost, Discount Rate 4.68% 4.87% 2.57%
Pension Plan [Member] | Non-US Pension Benefits      
Defined Benefit Plan Disclosure [Line Items]      
Defined Benefit Plan, Assumptions Used Calculating Benefit Obligation, Discount Rate 1.57% 2.07%  
Defined Benefit Plan, Accumulated Benefit Obligation $ 781.1 $ 775.1  
Defined Benefit Plan, Expected Future Employer Contributions, Next Fiscal Year $ 25.4    
Defined Benefit Plan, Assumptions Used Calculating Net Periodic Benefit Cost, Discount Rate 2.07% 2.57% 0.40%
Other Postretirement Benefits Plan [Member] | US Pension Benefits      
Defined Benefit Plan Disclosure [Line Items]      
Defined Benefit Plan, Assumptions Used Calculating Benefit Obligation, Discount Rate 5.02% 4.49%  
Defined Benefit Plan, Assumptions Used Calculating Net Periodic Benefit Cost, Discount Rate 4.49% 4.67% 1.94%
Other Postretirement Benefits Plan [Member] | U.S. Post-Retirement Medical Plan      
Defined Benefit Plan Disclosure [Line Items]      
Defined Benefit Plan, Expected Future Employer Contributions, Next Fiscal Year $ 0.1    
v3.25.0.1
Taxes Summary of Earnings (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Income Tax Disclosure [Abstract]      
Earnings Before Taxes, Domestic $ 128,053 $ 142,078 $ 144,107
Earnings Before Taxes, Foreign 909,170 831,650 926,485
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest $ 1,037,223 $ 973,728 $ 1,070,592
v3.25.0.1
Taxes Summary of the provision for taxes (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Current Income Tax Expense (Benefit), Continuing Operations [Abstract]      
Current Federal Tax Expense (Benefit) $ 13,591 $ 20,036 $ 363
Current State and Local Tax Expense (Benefit) 5,782 8,946 4,893
Current Foreign Tax Expense (Benefit) 159,926 169,341 166,317
Current Income Tax Expense (Benefit) 179,299 198,323 171,573
Deferred Income Tax Expense (Benefit), Continuing Operations [Abstract]      
Deferred Federal Income Tax Expense (Benefit) (6,881) (10,949) 9,710
Deferred State and Local Income Tax Expense (Benefit) 973 (838) 1,282
Deferred Foreign Income Tax Expense (Benefit) 692 (1,586) 15,525
Deferred Income Tax Expense (Benefit) (5,216) (13,373) 26,517
Federal Income Tax Expense (Benefit), Continuing Operations 6,710 9,087 10,073
State and Local Income Tax Expense (Benefit), Continuing Operations 6,755 8,108 6,175
Foreign Income Tax Expense (Benefit), Continuing Operations 160,618 167,755 181,842
Provision for taxes $ 174,083 $ 184,950 $ 198,090
v3.25.0.1
Taxes Effective Tax Rate Reconciliation (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Income Tax Disclosure [Abstract]      
Effective Tax Rate Reconciliation, Excess Tax Benefits $ (11,875) $ (13,674) $ (22,965)
Effective Income Tax Rate Reconciliation, Tax Settlement, Amount (22,982) 0 0
Income Tax Expense (Benefit), at Federal Statutory Income Tax Rate 217,817 204,483 224,825
State and Local Income Taxes 5,504 6,858 5,132
Foreign Income Tax Rate Differential (21,489) (14,611) (3,055)
Other Adjustments 7,108 1,894 (5,847)
Provision for taxes $ 174,083 $ 184,950 $ 198,090
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate 21.00% 21.00%  
v3.25.0.1
Taxes Tax Effects of Temporary Differences (Details) - USD ($)
$ in Thousands
Dec. 31, 2024
Dec. 31, 2023
Income Tax Disclosure [Abstract]    
Inventory $ 26,803 $ 24,969
Accrued and other liabilities 100,030 92,601
Accrued post-retirement benefit and pension costs 27,972 34,015
Net operating loss and tax credit carryforwards 44,464 43,036
Swiss tax reform intangible asset 51,662 55,767
Other 10,460 6,726
Deferred Tax Assets, Gross 261,391 257,114
Valuation Allowance (73,171) (73,460)
Non-current deferred tax assets, net 188,220 183,654
Inventory 10,416 12,095
Deferred Tax Liabilities, Right of Use Asset and Other Assets 25,990 26,510
Property, Plant and Equipment 85,189 83,326
Rainin Intangible Amortization 64,627 62,479
Deferred Tax Liabilities, Tax Deferred Expense, Compensation and Benefits, Pension 43,547 49,918
International earnings 16,367 19,641
Deferred Tax Liabilities, Unrealized Currency Transaction Gains 11,451 7,165
Deferred Tax Liabilities, Gross, Noncurrent 257,587 261,134
Net deferred tax (liability) asset $ (69,367) $ (77,480)
v3.25.0.1
Taxes Reconciliation of unrecognized tax benefits (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Unrecognized Tax Benefits [Roll Forward]    
Beginning Unrecognized Tax Benefits $ 58,225 $ 50,822
Increases related to current tax positions 10,399 5,867
Unrecognized Tax Benefits, Decrease Resulting from Prior Period Tax Positions (1,169) (2,641)
Unrecognized Tax Benefits, Decrease Resulting from Settlements with Taxing Authorities (19,980) 0
Unrecognized Tax Benefits, Foreign Currency Translation (decreases) increases to prior year tax positions (2,040) 4,177
Ending Unrecognized Tax Benefits $ 45,435 $ 58,225
v3.25.0.1
Taxes Narrative (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Income Tax Disclosure [Abstract]      
Effective Income Tax Rate Reconciliation, Percent 16.80% 19.00% 18.50%
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate 21.00% 21.00%  
Unrecognized Tax Benefits that Would Impact Effective Tax Rate $ 45.4 $ 58.2  
Unrecognized Tax Benefits, Income Tax Penalties and Interest Accrued $ 9.4 $ 10.9  
v3.25.0.1
Other Charges (Income), Net Other Charges (Income), Net (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Other Nonoperating Income (Expense) $ 4,571 $ 4,146 $ 9,320
Impact of Adopting ASU 2017-07 ASC 715 Compensation Retirement Benefit $ (7,700) $ (7,600) $ 16,900
v3.25.0.1
Leases Lease Balance Sheet (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
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 $ 112,735 $ 114,392    
Operating Lease, Liability, Current $ 29,815 28,516    
Operating Lease, Liability, Noncurrent, Statement of Financial Position [Extensible Enumeration] Other non-current liabilities      
Operating Lease, Liability, Noncurrent $ 87,370 $ 86,930    
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 $ 117,185 $ 115,446    
Operating Lease, Right-of-Use Asset, Amortization Expense $ 33,800 $ 34,400 $ 34,600  
v3.25.0.1
Leases Lease Income Statement (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Leases [Abstract]      
Operating Lease, Expense $ 39,424 $ 37,849 $ 37,145
Variable Lease, Cost 9,841 7,022 4,649
Short-term Lease, Cost 1,228 1,004 958
Lease, Cost $ 50,493 $ 45,875 $ 42,752
Operating Lease, Weighted Average Remaining Lease Term 5 years 10 months 24 days 6 years 6 months 7 years 10 months 24 days
Operating Lease, Weighted Average Discount Rate, Percent 4.40% 4.00% 2.90%
Operating Lease, Right-of-Use Asset, Amortization Expense $ 33,800 $ 34,400 $ 34,600
v3.25.0.1
Leases Lease Maturity Analysis (Details) - USD ($)
$ in Thousands
Dec. 31, 2024
Dec. 31, 2023
Leases [Abstract]    
Lessee, Operating Lease, Liability, Payments, Due Next Twelve Months $ 34,356  
Lessee, Operating Lease, Liability, Payments, Due Year Two 27,642  
Lessee, Operating Lease, Liability, Payments, Due Year Three 19,210  
Finance Lease, Liability, Payments, Due Year Four 13,043  
Lessee, Operating Lease, Liability, Payments, Due Year Five 8,940  
Lessee, Operating Lease, Liability, Payments, Due after Year Five 30,520  
Lessee, Operating Lease, Liability, Payments, Due 133,711  
Lessee, Operating Lease, Liability, Undiscounted Excess Amount (16,526)  
Operating Lease, Liability $ 117,185 $ 115,446
v3.25.0.1
Leases Lease Narrative (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Jan. 01, 2019
Leases [Abstract]        
Change in lease liability cash flow $ 33.7 $ 33.4 $ 34.6  
Operating Lease, Payments 36.6 36.6 35.2  
Right-of-Use Asset Obtained in Exchange for Operating Lease Liability $ 23.5 $ 34.5 $ 27.0  
Operating Lease, Liability, Statement of Financial Position [Extensible Enumeration] Accounts Payable and Accrued Liabilities Accounts Payable and Accrued Liabilities   Accounts Payable and Accrued Liabilities
v3.25.0.1
Segment Reporting Segment (Details)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
USD ($)
reportableSegment
Dec. 31, 2023
USD ($)
Dec. 31, 2022
USD ($)
Segment Reporting [Abstract]      
Number of reportable segments | reportableSegment 5    
Net sales to external customers $ 3,872,361 $ 3,788,309 $ 3,919,709
Net sales to other segments 0 0 0
Net Sales 3,872,361 3,788,309 3,919,709
Segment profit 1,199,923 1,151,896 1,192,459
Depreciation 50,352 48,951 46,784
Assets 3,239,999 3,355,555 3,492,395
Purchase of property, plant and equipment (103,898) (105,323) (121,241)
Goodwill 668,914 670,108 660,170
Segment Reporting, Reconciling Item, Corporate Nonsegment [Member]      
Net sales to external customers 0 0 0
Net sales to other segments (1,482,763) (1,385,896) (1,505,858)
Net Sales (1,482,763) (1,385,896) (1,505,858)
Unallocated expense / eliminations 150,073 146,642 164,023
Segment profit (150,073) (146,642) (164,023)
Depreciation 6,170 6,814 6,713
Assets (7,397,549) (6,978,811) (5,988,260)
Purchase of property, plant and equipment (45,474) (33,459) (34,291)
Goodwill 0 0 0
U.S. Operations Segment | Operating Segments [Member]      
Depreciation 16,970 15,863 14,582
Assets 4,081,688 3,848,003 3,574,842
Purchase of property, plant and equipment (16,542) (36,269) (55,464)
Goodwill 532,394 526,392 524,470
Swiss Operations Segment | Operating Segments [Member]      
Net sales to external customers 218,580 188,679 176,119
Net sales to other segments 801,749 761,114 839,951
Net Sales 1,020,329 949,793 1,016,070
Segment cost of sales 498,505 436,494 487,642
Segment period expense 241,178 231,818 218,584
Segment profit 280,646 281,481 309,844
Depreciation 7,086 7,017 6,644
Assets 3,780,506 3,554,911 2,968,539
Purchase of property, plant and equipment (9,504) (8,030) (7,690)
Goodwill 25,601 27,532 25,058
Western European Operations Segment | Operating Segments [Member]      
Net sales to external customers 858,002 792,907 799,931
Net sales to other segments 185,321 188,963 196,900
Net Sales 1,043,323 981,870 996,831
Segment cost of sales 486,823 455,596 488,153
Segment period expense 350,199 347,601 334,326
Segment profit 206,301 178,673 174,352
Depreciation 5,339 5,351 4,970
Assets 1,505,017 1,533,297 1,314,332
Purchase of property, plant and equipment (6,340) (5,052) (5,110)
Goodwill 97,426 101,653 96,077
Chinese Operations Segment | Operating Segments [Member]      
Net sales to external customers 628,447 718,818 841,526
Net sales to other segments 320,196 278,027 308,164
Net Sales 948,643 996,845 1,149,690
Segment cost of sales 422,130 448,341 530,270
Segment period expense 180,713 181,410 195,258
Segment profit 345,800 367,094 424,162
Depreciation 9,434 9,609 9,699
Assets 854,023 989,955 1,234,303
Purchase of property, plant and equipment (14,355) (10,133) (12,418)
Goodwill 597 621 641
Other Operations Segment | Operating Segments [Member]      
Net sales to external customers 737,830 683,986 657,673
Net sales to other segments 21,738 20,600 3,959
Net Sales 759,568 704,586 661,632
Segment cost of sales 421,489 400,634 380,360
Segment period expense 213,895 197,714 190,950
Segment profit 124,184 106,238 90,322
Depreciation 5,353 4,297 4,176
Assets 416,314 408,200 388,639
Purchase of property, plant and equipment (11,683) (12,380) (6,268)
Goodwill 12,896 13,910 13,924
Us Operations segment Member | Operating Segments [Member]      
Net sales to external customers 1,429,502 1,403,919 1,444,460
Net sales to other segments 153,759 137,192 156,884
Net Sales 1,583,261 1,541,111 1,601,344
Segment cost of sales 690,498 689,004 736,798
Segment period expense 499,698 487,055 506,744
Segment profit $ 393,065 $ 365,052 $ 357,802
v3.25.0.1
Segment Reporting Reconciliation of Earnings Before Taxes (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Segment Reporting [Abstract]      
Segment profit $ 1,199,923 $ 1,151,896 $ 1,192,459
Amortization 72,869 72,213 66,239
Interest Expense 74,631 77,366 55,392
Restructuring Charges 19,771 32,735 9,556
Other Charges (Income), Net (4,571) (4,146) (9,320)
Earnings before taxes $ 1,037,223 $ 973,728 $ 1,070,592
v3.25.0.1
Segment Reporting Sales and PPE by Destination (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Revenues from External Customers and Long-Lived Assets      
Net Sales $ 3,872,361 $ 3,788,309 $ 3,919,709
Total Segments Property, Plant and Equipment, Net 770,280 803,374  
UNITED STATES      
Revenues from External Customers and Long-Lived Assets      
Net Sales 1,358,761 1,346,468 1,363,335
Total Segments Property, Plant and Equipment, Net 216,317 224,696  
OTHER AMERICAS      
Revenues from External Customers and Long-Lived Assets      
Net Sales 247,531 221,742 219,158
Total Segments Property, Plant and Equipment, Net 12,485 13,152  
TOTAL AMERICAS      
Revenues from External Customers and Long-Lived Assets      
Net Sales 1,606,292 1,568,210 1,582,493
Total Segments Property, Plant and Equipment, Net 228,802 237,848  
GERMANY      
Revenues from External Customers and Long-Lived Assets      
Net Sales 236,292 221,482 219,813
Total Segments Property, Plant and Equipment, Net 31,320 36,123  
FRANCE      
Revenues from External Customers and Long-Lived Assets      
Net Sales 152,821 139,304 147,430
Total Segments Property, Plant and Equipment, Net 19,706 22,684  
UNITED KINGDOM      
Revenues from External Customers and Long-Lived Assets      
Net Sales 84,438 79,455 85,382
Total Segments Property, Plant and Equipment, Net 28,056 30,651  
SWITZERLAND      
Revenues from External Customers and Long-Lived Assets      
Net Sales 93,599 91,564 80,891
Total Segments Property, Plant and Equipment, Net 310,775 332,136  
OTHER EUROPE      
Revenues from External Customers and Long-Lived Assets      
Net Sales 533,249 483,693 480,844
Total Segments Property, Plant and Equipment, Net 25,969 19,285  
TOTAL EUROPE      
Revenues from External Customers and Long-Lived Assets      
Net Sales 1,100,399 1,015,498 1,014,360
Total Segments Property, Plant and Equipment, Net 415,826 440,879  
CHINA      
Revenues from External Customers and Long-Lived Assets      
Net Sales 621,794 707,592 823,842
Total Segments Property, Plant and Equipment, Net 89,733 87,972  
REST OF WORLD      
Revenues from External Customers and Long-Lived Assets      
Net Sales 543,876 497,009 499,014
Total Segments Property, Plant and Equipment, Net 35,919 36,675  
TOTAL ASIA REST OF WORLD      
Revenues from External Customers and Long-Lived Assets      
Net Sales 1,165,670 1,204,601 $ 1,322,856
Total Segments Property, Plant and Equipment, Net $ 125,652 $ 124,647  
v3.25.0.1
Segment Reporting Textuals (Details)
 12 Months Ended
Dec. 31, 2024
Customer Concentration Risk | Revenue Benchmark | End Customers  
Maximum Customer Percentage 1.00%
v3.25.0.1
Schedule II Valuation and Qualifying Accounts Schedule II (Details) - Valuation Allowance of Deferred Tax Assets - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]      
Valuation Allowances and Reserves, Balance, Beginning $ 73,460 $ 62,615 $ 51,126
Valuation Allowances and Reserves, Charged to Cost and Expense 3,312 7,548 6,103
Valuation Allowances and Reserves, Charged to Other Accounts 37 4,149 6,284
SEC Schedule, 12-09, Valuation Allowances and Reserves, Deduction 3,638 852 898
Valuation Allowances and Reserves, Balance, Ending $ 73,171 $ 73,460 $ 62,615