Financial Analysis

ACQUISITIONSIn

BusinessCombinationDisclosureTextBlock

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 Companys financial condition, results of operations, or cash flows. …

CommitmentsAndContingenciesDisclosureTextBlock · excerpt; the full note is in the filing

DEBT Debt consisted of the following at December 31: 2025 2024 4.24% $125 million 10-year Senior Notes due June 25, 2025 125,000 3.91% $75 million 10-year Senior Notes due June 25, 2029 75,000 75,000 5.45% $150 million 10-year Senior Notes due March 1, 2033 150,000 150,000 2.83% $125 million 12-year Senior Notes due July 22, 2033 125,000 125,000 3.19% $50 million 15-year Senior Notes due January 24, 2035 50,000 50,000 2.81% $150 million 15-year Senior Notes due March 17, 2037 150,000 150,000 2.91% $150 million 15-year Senior Notes due September 1, 2037 150,000 150,000 1.47% EUR 125 million 15-year Senior Notes due June 17, 2030 146,753 129,840 1.30% EUR 135 million 15-year Senior Notes due November 6, 2034 158,493 140,227 1.06% EUR 125 million 15-year Senior Notes due March 19, 2036 146,753 129,840 3.80% EUR 100 million 10 1/2-year Senior Notes due July 9, 2035 117,402 Senior Notes debt issuance costs, net (3,833) (4,260) Total Senior Notes 1,265,568 1,220,647 $1.35 billion Credit Agreement, interest at benchmark plus 87.5 basis points (1)(2) 809,215 730,203 Other local arrangements 77,389 63,038 Total debt 2,152,172 2,013,888 Less: current portion (63,931) (182,623) Total long-term debt $ 2,088,241 $ 1,831,265 (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. doll …

DebtDisclosureTextBlock · excerpt; the full note is in the filing

A summary by the Companys reportable segments follows for the years ended December 31: Twelve months ended December 31, 2025 U.S. Operations Swiss Operations Western European Operations Chinese Operations Other Operations Total Product Revenue $ 1,081,541 $ 162,354 $ 603,735 $ 574,258 $ 585,917 $ 3,007,805 Service Revenue: Point in time 307,630 35,639 190,756 42,548 155,594 732,167 Over time 107,031 12,865 101,480 18,027 47,024 286,427 Total $ 1,496,202 $ 210,858 $ 895,971 $ 634,833 $ 788,535 $ 4,026,399 Twelve months ended December 31, 2024 U.S. Operations Swiss Operations Western European Operations Chinese Operations Other Operations Total 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, 2023 U.S. Operations Swiss Operations Western European Operations Chinese Operations Other Operations Total 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 The Company's global revenue mix by product category for the year ended December 31, 2025 is laboratory (56% of sales), industrial (39% of sales), a …

DisaggregationOfRevenueTableTextBlock · excerpt; the full note is in the filing

EQUITY INCENTIVE PLAN The Companys 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 Companys 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 Companys 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. Performance share units generally vest after a three-year period from the date of the grant based upon satisfaction of the performance condition. Restricted share units primarily vest from the date of the grant equally over a three-year period for executive officers and a five-year period for participating managers. During 2025, the compensation committee of the Board of Directors generally granted restricted share units to participating managers and a combination of non-qualified stock options, performance share units and restricted sha …

DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock · excerpt; the full note is in the filing

FAIR VALUE MEASUREMENTS At December 31, 2025 and 2024, the Company had derivative assets totaling $3.2 million and $9.2 million, respectively, and derivative liabilities totaling $37.4 million and $8.5 million, respectively. The Company has limited involvement with derivative financial instruments and therefore does not present all the required disclosures in tabular format. The fair values of the cross currency swap agreements, and 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 Companys 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, 2025 and 2024. 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 measuremen …

FairValueDisclosuresTextBlock · excerpt; the full note is in the filing

GOODWILL AND OTHER INTANGIBLE ASSETS The following table shows the changes in the carrying amount of goodwill for the years ended December 31: 2025 2024 Balance at beginning of year $ 668,914 $ 670,108 Goodwill acquired 55,998 5,897 Goodwill disposed (175) Foreign currency translation 14,313 (6,916) Balance at year end $ 739,225 $ 668,914 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, 2025. 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: 2025 2024 Gross Amount Accumulated Amortization Intangibles, Net Gross Amount Accumulated Amortization Intangibles, Net Customer relationships $ 331,229 $ (133,460) $ 197,769 $ 289,178 $ (116,812) $ 172,366 Proven technology and patents 132,247 (93,025) 39,222 123,971 (80,634) 43,337 Tradenames (finite life) 8,476 (6,555) 1,921 7,853 (5,308) 2,545 Tradenames (indefinite life) 35,795 35,795 35,088 35,088 Other 14,285 (10,082) 4,203 12,426 (8,619) 3,807 $ 522,032 $ (243,122) $ 278,910 $ 468,516 $ (211,373) $ 257,143 The Company recognized amortization expense associated with the above intangible assets of $28.5 million, $27.1 million, and $27.6 million for the years ended D …

GoodwillAndIntangibleAssetsDisclosureTextBlock · excerpt; the full note is in the filing

LEASES The Companys 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 Companys field sales and service organization. The consolidated balance sheet included the following balances as of December 31: 2025 2024 Balance Sheet Location Operating right-of-use assets, net $ 111,718 $ 106,830 Finance right-of-use assets, net 15,637 5,905 Right-of-use assets, net $ 127,355 $ 112,735 Other non-current assets Current operating lease liability $ 35,108 $ 29,074 Accrued and other liabilities Current finance lease liability 2,821 741 Short-term borrowings and current maturities of long-term debt Non-current operating lease liability 78,043 81,956 Other non-current liabilities Non-current finance lease liability 13,509 5,414 Long-term debt Total lease liability $ 129,481 $ 117,185 As of December 31, 2025, the Company had not entered into any material real estate operating leases expected to commence in 2026. For the years ended December 31, 2025, 2024 and 2023, the Company had the following recorded in cost of sales, and selling, general, and administrative associated with leasing arrangements: 2025 2024 2023 Operating lease expense $ 40,288 $ 39,424 $ 37,849 Finance lease expense Amortization of right-of-use assets 1,791 744 526 Interest on lease liabilities 469 252 144 Variable lease expense 11,767 9,841 7,022 Short-term lease expense 1,3 …

LesseeOperatingLeasesTextBlock · excerpt; the full note is in the filing

Recent Accounting Pronouncements 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 adopted these annual disclosure requirements on a prospective basis in 2025. See Note 14 for the required income tax disclosures. 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. In September 2025, the FASB issued ASU 2025-06: Targeted Improvements to the Accounting for Internal-Use Software, which modernizes the accounting for internal-use software costs. The guidance is effective for fiscal years beginning after December 15, 2027, with early adoption permitted. The Company has not determined when an …

NewAccountingPronouncementsPolicyPolicyTextBlock · excerpt; the full note is in the filing

BENEFIT PLANS The Company maintains a number of retirement and other post-retirement employee benefit plans. Certain subsidiaries sponsor defined contribution plans. Benefits are determined and funded annually based upon the terms of the plans. Amounts recognized as cost under these plans amounted to $20.6 million, $18.7 million, and $20.1 million for the years ended December 31, 2025, 2024, and 2023, 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 Companys 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 Companys defined benefit plans and post-retirement plan at December 31, 2025 and 2024: U.S. Pension Benefits Non-U.S. Pension Benefits Other Benefits Total 2025 2024 2025 2024 2025 2024 2025 2024 Change in benefit obligation: Benefit obligation at beginning of year $ 99,881 $ 108,546 $ 924,869 $ 917,321 $ 521 $ 614 $ 1,025,271 $ 1,026,481 Service cost, gross 932 1,587 39,842 35,403 40,774 36,990 Interest cost 4,804 4,766 14,352 17,792 23 26 19,179 22,584 Actuarial losses (gains) 2,445 (6,473) (1, …

PensionAndOtherPostretirementBenefitsDisclosureTextBlock · excerpt; the full note is in the filing

REVENUE The Company disaggregates revenue from contracts with customers by product, service, timing of revenue recognition, and geography. A summary by the Companys reportable segments follows for the years ended December 31: Twelve months ended December 31, 2025 U.S. Operations Swiss Operations Western European Operations Chinese Operations Other Operations Total Product Revenue $ 1,081,541 $ 162,354 $ 603,735 $ 574,258 $ 585,917 $ 3,007,805 Service Revenue: Point in time 307,630 35,639 190,756 42,548 155,594 732,167 Over time 107,031 12,865 101,480 18,027 47,024 286,427 Total $ 1,496,202 $ 210,858 $ 895,971 $ 634,833 $ 788,535 $ 4,026,399 Twelve months ended December 31, 2024 U.S. Operations Swiss Operations Western European Operations Chinese Operations Other Operations Total 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, 2023 U.S. Operations Swiss Operations Western European Operations Chinese Operations Other Operations Total 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 The Compa …

RevenueFromContractWithCustomerTextBlock · excerpt; the full note is in the filing

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 Companys marketing and producing organizations located in the United States. Western European Operations include the Companys 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 Companys marketing and producing organizations located in China. The Companys market organizations are geographically focused and are responsible for all aspects of the Companys 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 reporti …

SegmentReportingDisclosureTextBlock · excerpt; the full note is in the filing

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 Companys 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 Companys 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. …

SignificantAccountingPoliciesTextBlock · excerpt; the full note is in the filing

SHAREHOLDERS EQUITY Common Stock The number of authorized shares of the Companys common stock is 125,000,000 shares with a par value of $0.01 per share. Holders of the Companys common stock are entitled to one vote per share. At December 31, 2025, 3,288,861 shares of the Companys common stock were reserved for issuance pursuant to the Companys 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 2025, the Companys Board of Directors authorized an additional $2.75 billion to the share repurchase program, which had $3.7 billion of remaining availability as of December 31, 2025 …

StockholdersEquityNoteDisclosureTextBlock · excerpt; the full note is in the filing

CONTINGENCIES In February 2026, the U.S. Supreme Court issued a decision invalidating tariffs imposed under the International Emergency Economic Powers Act (IEEPA). During the three months ended June 30, 2026, the Company received refunds, including interest, from the U.S. Customs and Border Protection of $42.9 million and concluded the remaining $9.5 million of refunds were realizable and such amounts have been subsequently received. The $9.5 million refund receivable is included in other current assets and prepaid expenses in the interim consolidated balance sheet as of June 30, 2026. This has resulted in a one-time gross benefit of $52.4 million that has reduced cost of sales for the three and six months ended June 30, 2026. In addition, the Company committed to refund approximately $27.8 million to customers, which reduced net sales for the three and six months ended June 30, 2026. This is included in accrued and other liabilities on the interim consolidated balance sheet as of June 30, 2026. The Company anticipates distributing tariff-related refunds to customers during the third quarter of 2026. The Company is also party to various legal proceedings, including certain environmental matters, incidental to the normal course of business. Management does not expect that any of such proceedings, either individually or in the aggregate, will have a material adverse effect on the Companys financial condition, results of operations or cash flows. …

CommitmentsAndContingenciesDisclosureTextBlock · excerpt; the full note is in the filing

DEBT Debt consisted of the following at June 30, 2026: U.S. Dollar Other Principal Trading Currencies Total 3.91% $75 million ten-year Senior Notes due June 25, 2029 75,000 75,000 5.45% $150 million ten-year Senior Notes due March 1, 2033 150,000 150,000 2.83% $125 million twelve-year Senior Notes due July 22, 2033 125,000 125,000 3.19% $50 million fifteen-year Senior Notes due January 24, 2035 50,000 50,000 2.81% $150 million fifteen-year Senior Note due March 17, 2037 150,000 150,000 2.91% $150 million fifteen-year Senior Note due September 1, 2037 150,000 150,000 1.47% Euro 125 million fifteen-year Senior Notes due June 17, 2030 142,313 142,313 1.30% Euro 135 million fifteen-year Senior Notes due November 6, 2034 153,698 153,698 1.06% Euro 125 million fifteen-year Senior Notes due March 19, 2036 142,313 142,313 3.80% Euro 100 million 10 1/2-year Senior Notes due July 9, 2035 113,850 113,850 Debt issuance costs, net (1,947) (1,657) (3,604) Total Senior Notes 698,053 550,517 1,248,570 $1.35 billion Credit Agreement, interest at benchmark plus 87.5 basis points (a) 402,444 380,669 783,113 Other local arrangements 20,218 60,062 80,280 Total debt 1,120,715 991,248 2,111,963 Less: current portion (7,601) (59,689) (67,290) Total long-term debt $ 1,113,114 $ 931,559 $ 2,044,673 (a) The benchmark interest rate is determined by the borrowing currency. The benchmark rates by borrowing currency are as follows: SOFR for U.S. dollars (plus a 10 basis points spread adjustment), SARON for …

DebtDisclosureTextBlock · excerpt; the full note is in the filing

For the three months ended June 30, 2026 U.S. Operations Swiss Operations Western European Operations Chinese Operations Other Operations Total Product Revenue $ 241,276 $ 43,852 $ 151,087 $ 170,421 $ 146,367 $ 753,003 Service Revenue: Point in time 81,319 9,192 46,479 11,618 41,510 190,118 Over time 29,882 3,432 29,411 5,210 16,258 84,193 Total $ 352,477 $ 56,476 $ 226,977 $ 187,249 $ 204,135 $ 1,027,314 For the three months ended June 30, 2025 U.S. Operations Swiss Operations Western European Operations Chinese Operations Other Operations Total Product Revenue $ 271,782 $ 37,462 $ 139,573 $ 146,635 $ 138,792 $ 734,244 Service Revenue: Point in time 74,334 8,732 46,663 10,913 37,446 178,088 Over time 26,400 3,361 25,680 4,469 10,979 70,889 Total $ 372,516 $ 49,555 $ 211,916 $ 162,017 $ 187,217 $ 983,221 For the six months ended June 30, 2026 U.S. Operations Swiss Operations Western European Operations Chinese Operations Other Operations Total Product Revenue $ 481,234 $ 82,227 $ 290,817 $ 310,474 $ 272,505 $ 1,437,257 Service Revenue: Point in time 161,517 18,144 94,547 20,231 78,511 372,950 Over time 58,273 6,864 56,996 10,067 32,034 164,234 Total $ 701,024 $ 107,235 $ 442,360 $ 340,772 $ 383,050 $ 1,974,441 For the six months ended June 30, 2025 U.S. Operations Swiss Operations Western European Operations Chinese Operations Other Operations Total Product Revenue $ 518,849 $ 73,760 $ 264,423 $ 274,832 $ 252,330 $ 1,384,194 Service Revenue: Point in time 147,664 16,980 89,13 …

DisaggregationOfRevenueTableTextBlock · excerpt; the full note is in the filing

FAIR VALUE MEASUREMENTS At June 30, 2026 and December 31, 2025, the Company had derivative assets totaling $4.9 million and $3.2 million respectively, and derivative liabilities totaling $28.3 million and $37.4 million, respectively. The Company has limited involvement with derivative financial instruments and therefore does not present all the required disclosures in tabular format. The fair values of the cross-currency swap agreements and foreign currency forward contracts that economically hedge short-term intercompany balances are estimated based upon inputs from current valuation information obtained from dealer quotes and priced with observable market assumptions and appropriate valuation adjustments for credit risk. The Company has evaluated the valuation methodologies used to develop the fair values by dealers in order to determine whether such valuations are representative of an exit price in the Companys principal market. In addition, the Company uses an internally developed model to perform testing on the valuations received from brokers. The Company has also considered both its own credit risk and counterparty credit risk in determining fair value and determined these adjustments were insignificant at June 30, 2026 and December 31, 2025. 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 co …

FairValueDisclosuresTextBlock · excerpt; the full note is in the filing

INCOME TAXESThe Company's reported tax rate was 19.5% and 18.6% during the three months ended June30, 2026 and 2025, respectively and 19.4% and 18.8% during the six months ended June30, 2026 and 2025, respectively. The provision for taxes is based upon using the Company's projected annual effective tax rate of 19.0% before non-recurring discrete tax items during 2026 and 2025. The difference between the Company's projected annual effective tax rate and the reported tax rate is primarily related to the timing of excess tax benefits associated with stock option exercises, …

IncomeTaxDisclosureTextBlock · excerpt; the full note is in the filing

Recent Accounting Pronouncements 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 prospectively in 2027 and is currently evaluating the impact of this guidance on the consolidated financial statements. In September 2025, the FASB issued ASU 2025-06: Targeted Improvements to the Accounting for Internal-Use Software, which modernizes the accounting for internal-use software costs. The guidance is effective for fiscal years beginning after December 15, 2027, with early adoption permitted. The Company plans to adopt prospectively and is currently evaluating the potential impact, if any, on the consolidated financial statements. In December 2025, the FASB issued ASU 2025-12: Codification Improvements, which updates U.S. GAAP for a broad range of topics arising from technical corrections, unintended application of the codification, clarifications, and other minor improvements. The guidance is effective for fiscal years beginning after December 15, 2026, with early adoption permitted. The Company plans to adopt prospectively and is currently evaluating the potential impact, if any, on the consolidated financial statements.

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NET PERIODIC BENEFIT COST Net periodic pension cost for the Companys defined benefit pension plans and U.S. post-retirement medical plan includes the following components for the three months ended June 30: U.S. Pension Benefits Non-U.S. Pension Benefits Other U.S. Post-retirement Benefits Total 2026 2025 2026 2025 2026 2025 2026 2025 Service cost, net $ 144 $ 233 $ 5,364 $ 4,661 $ $ $ 5,508 $ 4,894 Interest cost on projected benefit obligations 1,063 1,201 4,491 3,823 1 6 5,555 5,030 Expected return on plan assets (1,450) (1,428) (12,374) (11,029) (13,824) (12,457) Recognition of prior service cost (739) (1,045) (125) (19) (864) (1,064) Recognition of actuarial losses/(gains) 346 393 2,660 4,689 70 8 3,076 5,090 Net periodic pension cost/(credit) $ 103 $ 399 $ (598) $ 1,099 $ (54) $ (5) $ (549) $ 1,493 Net periodic pension cost for the Companys defined benefit pension plans and U.S. post-retirement medical plan includes the following components for the six months ended June 30: U.S. Pension Benefits Non-U.S. Pension Benefits Other U.S. Post-retirement Benefits Total 2026 2025 2026 2025 2026 2025 2026 2025 Service cost, net $ 288 $ 466 $ 10,730 $ 9,156 $ $ $ 11,018 $ 9,622 Interest cost on projected benefit obligations 2,126 2,402 8,984 7,374 1 12 11,111 9,788 Expected return on plan assets (2,901) (2,856) (24,750) (21,216) (27,651) (24,072) Recognition of prior service cost (1,478) (2,004) (249) (38) (1,727) (2,042) Recognition of actuarial losses/(gains) 692 786 5,320 9,013 …

PensionAndOtherPostretirementBenefitsDisclosureTextBlock · excerpt; the full note is in the filing

REVENUE The Company disaggregates revenue from contracts with customers by product, service, timing of revenue recognition and geography. As further described in Note 14, revenue for the three and six months ended June 30, 2026 includes a one-time reduction of net sales of $27.8 million for tariff-related customer refunds, which is included in the U.S. Operations segment. A summary of revenue by the Companys reportable segments for the three and six months ended June 30, 2026 and 2025 follows: For the three months ended June 30, 2026 U.S. Operations Swiss Operations Western European Operations Chinese Operations Other Operations Total Product Revenue $ 241,276 $ 43,852 $ 151,087 $ 170,421 $ 146,367 $ 753,003 Service Revenue: Point in time 81,319 9,192 46,479 11,618 41,510 190,118 Over time 29,882 3,432 29,411 5,210 16,258 84,193 Total $ 352,477 $ 56,476 $ 226,977 $ 187,249 $ 204,135 $ 1,027,314 For the three months ended June 30, 2025 U.S. Operations Swiss Operations Western European Operations Chinese Operations Other Operations Total Product Revenue $ 271,782 $ 37,462 $ 139,573 $ 146,635 $ 138,792 $ 734,244 Service Revenue: Point in time 74,334 8,732 46,663 10,913 37,446 178,088 Over time 26,400 3,361 25,680 4,469 10,979 70,889 Total $ 372,516 $ 49,555 $ 211,916 $ 162,017 $ 187,217 $ 983,221 For the six months ended June 30, 2026 U.S. Operations Swiss Operations Western European Operations Chinese Operations Other Operations Total Product Revenue $ 481,234 $ 82,227 $ 290,81 …

RevenueFromContractWithCustomerTextBlock · excerpt; the full note is in the filing

13. SEGMENT REPORTING As disclosed in Note 18 to the Company's consolidated financial statements for the year ended December 31, 2025, the Company has determined there are five reportable segments: U.S. Operations, Swiss Operations, Western European Operations, Chinese Operations and Other. 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). As further described in Note 14, the Companys operating results for the three and six months ended June 30, 2026 include a one-time benefit of $52.4 million from U.S government IEEPA tariff refunds that reduced cost of sales, offset in part by tariff-related customer refunds of $27.8 million that reduced net sales. This is reflected in the U.S. Operations segment. The following tables show the operations of the Companys operating segments: Three Months ended June 30, 2026 U.S. Operations Swiss Operations Western European Operations Chinese Operations Other Operations (a) Eliminations and Corporate (b) Total Net sales to external customers $ 352,477 $ 56,476 $ 226,977 $ 187,249 $ 204,135 $ $ 1,027,314 Net sales to other segments 40 …

SegmentReportingDisclosureTextBlock · excerpt; the full note is in the filing

"SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Trade Accounts Receivable Trade accounts receivable are recorded at the invoiced amount and do not bear interest. The allowance for expected credit losses represents the Companys best estimate based on historical information, current information, and reasonable and supportable forecasts of future events and circumstances. Inventories Inventories are valued at the lower of cost or net realizable value. Cost, which includes direct materials, labor and overhead, is generally determined using the first in, first out (FIFO) method. The estimated net realizable value is based on assumptions for future demand and related pricing. Adjustments to the cost basis of the Companys inventory are made for excess and obsolete items based on usage, orders and technological obsolescence. If actual market conditions are less favorable than those projected by management, reductions in the value of inventory may be required in the future. Inventories consisted of the following: June 30, 2026 December 31, 2025 Raw materials and parts $ 181,705 $ 171,600 Work-in-progress 88,784 77,146 Finished goods 141,074 138,482 $ 411,563 $ 387,228 Goodwill and Other Intangible Assets Goodwill, representing the excess of purchase price over the net asset value of companies acquired, and indefinite-lived intangible assets are not amortized, but are reviewed for impairment annually in the fourth quarter, or more frequently if events or changes in circumstances indicate t …

SignificantAccountingPoliciesTextBlock · excerpt; the full note is in the filing