Waters (WAT) 10-Q 28 Oct 20 2020 Q3 Quarterly report Financial data

Cover Page

Cover Page - shares	9 Months Ended
	Sep. 26, 2020	Oct. 23, 2020
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q3
Entity Interactive Data Current	Yes
Entity Central Index Key	0001000697
Current Fiscal Year End Date	--12-31
Document Quarterly Report	true
Document Transition Report	false
Document Period End Date	Sep. 26, 2020
Entity Registrant Name	WATERS CORP /DE/
Entity File Number	01-14010
Entity Tax Identification Number	13-3668640
Entity Incorporation, State or Country Code	DE
Entity Current Reporting Status	Yes
Entity Filer Category	Large Accelerated Filer
Entity Shell Company	false
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Address, Address Line One	34 Maple Street
Entity Address, City or Town	Milford
Entity Address, State or Province	MA
Entity Address, Postal Zip Code	01757
City Area Code	508
Local Phone Number	478-2000
Trading Symbol	WAT
Security Exchange Name	NYSE
Title of 12(b) Security	Common Stock
Entity Common Stock, Shares Outstanding		62,047,666

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Sep. 26, 2020	Dec. 31, 2019
Current assets:
Cash and cash equivalents	$ 374,934	$ 335,715
Investments	22,136	1,429
Accounts receivable, net	494,432	587,734
Inventories	326,946	320,551
Other current assets	73,225	67,062
Total current assets	1,291,673	1,312,491
Property, plant and equipment, net	469,721	417,342
Intangible assets, net	255,168	240,203
Goodwill	431,078	356,128
Operating lease assets	86,757	93,358
Other assets	144,889	137,533
Total assets	2,679,286	2,557,055
Current liabilities:
Notes payable and debt	150,000	100,366
Accounts payable	60,357	49,001
Accrued employee compensation	46,015	43,467
Deferred revenue and customer advances	211,348	176,360
Current operating lease liabilities	26,745	27,125
Accrued income taxes	60,444	45,967
Accrued warranty	10,261	11,964
Other current liabilities	157,018	137,084
Total current liabilities	722,188	591,334
Long-term liabilities:
Long-term debt	1,421,337	1,580,797
Long-term portion of retirement benefits	65,003	59,159
Long-term income tax liabilities	356,953	394,562
Long-term operating lease liabilities	62,471	66,881
Other long-term liabilities	92,915	80,603
Total long-term liabilities	1,998,679	2,182,002
Total liabilities	2,720,867	2,773,336
Commitments and contingencies (Notes 7, 8 and 12)
Stockholders' deficit:
Preferred stock, par value $0.01 per share, 5,000 shares authorized, none issued at September 26, 2020 and December 31, 2019
Common stock, par value $0.01 per share, 400,000 shares authorized, 161,381 and 161,030 shares issued, 62,024 and 62,587 shares outstanding at September 26, 2020 and December 31, 2019, respectively	1,614	1,610
Additional paid-in capital	1,982,731	1,926,753
Retained earnings	6,889,678	6,587,403
Treasury stock, at cost, 99,357 and 98,443 shares at September 26, 2020 and December 31, 2019, respectively	(8,788,928)	(8,612,576)
Accumulated other comprehensive loss	(126,676)	(119,471)
Total stockholders' deficit	(41,581)	(216,281)
Total liabilities and stockholders' deficit	$ 2,679,286	$ 2,557,055

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Sep. 26, 2020	Dec. 31, 2019
Statement of Financial Position [Abstract]
Preferred stock, par value per share	$ 0.01	$ 0.01
Preferred stock, shares authorized	5,000,000	5,000,000
Preferred stock, shares issued	0	0
Common stock, par value per share	$ 0.01	$ 0.01
Common stock, shares authorized	400,000,000	400,000,000
Common stock, shares issued	161,381,000	161,030,000
Common stock, shares outstanding	62,024,000	62,587,000
Treasury stock, shares	99,357,000	98,443,000

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 26, 2020	Sep. 28, 2019	Sep. 26, 2020	Sep. 28, 2019
Revenues:
Total net sales	$ 593,784	$ 577,278	$ 1,578,707	$ 1,690,302
Costs and operating expenses:
Selling and administrative expenses	135,430	126,036	400,614	393,583
Research and development expenses	34,971	34,333	101,115	105,883
Purchased intangibles amortization	2,657	2,619	7,900	7,164
Litigation provision			1,180
Total costs and operating expenses	435,400	404,043	1,196,929	1,218,262
Operating income	158,384	173,235	381,778	472,040
Other expense	(1,039)	(496)	(2,149)	(1,363)
Interest expense	(10,915)	(11,456)	(38,012)	(34,467)
Interest income	4,007	3,455	12,046	17,641
Income before income taxes	150,437	164,738	353,663	453,851
Provision for income taxes	23,668	26,605	50,403	62,322
Net income	$ 126,769	$ 138,133	$ 303,260	$ 391,529
Net income per basic common share	$ 2.04	$ 2.09	$ 4.89	$ 5.68
Weighted-average number of basic common shares	62,002	66,226	62,057	68,952
Net income per diluted common share	$ 2.03	$ 2.07	$ 4.86	$ 5.63
Weighted-average number of diluted common shares and equivalents	62,303	66,768	62,371	69,533
Product [Member]
Revenues:
Total net sales	$ 376,239	$ 370,573	$ 965,342	$ 1,078,341
Costs and operating expenses:
Costs and operating expenses	166,330	149,793	420,971	439,158
Service [Member]
Revenues:
Total net sales	217,545	206,705	613,365	611,961
Costs and operating expenses:
Costs and operating expenses	$ 96,012	$ 91,262	$ 265,149	$ 272,474

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 26, 2020	Sep. 28, 2019	Sep. 26, 2020	Sep. 28, 2019
Statement of Comprehensive Income [Abstract]
Net income	$ 126,769	$ 138,133	$ 303,260	$ 391,529
Other comprehensive income (loss):
Foreign currency translation	601	(4,894)	(7,156)	(4,403)
Unrealized (losses) gains on investments before income taxes		(8)		3,046
Income tax benefit (expense)		2		(702)
Unrealized (losses) gains on investments, net of tax		(6)		2,344
Retirement liability adjustment before reclassifications	(654)	267	(880)	165
Amounts reclassified to other income	352	88	1,028	271
Retirement liability adjustment before income taxes	(302)	355	148	436
Income tax (expense) benefit	(85)	60	(197)	13
Retirement liability adjustment, net of tax	(387)	415	(49)	449
Other comprehensive income (loss)	214	(4,485)	(7,205)	(1,610)
Comprehensive income	$ 126,983	$ 133,648	$ 296,055	$ 389,919

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	9 Months Ended
	Sep. 26, 2020	Sep. 28, 2019
Cash flows from operating activities:
Net income	$ 303,260	$ 391,529
Adjustments to reconcile net income to net cash provided by operating activities:
Stock-based compensation	27,715	28,917
Deferred income taxes	1,089	1,817
Depreciation	49,407	42,168
Amortization of intangibles	41,684	38,151
Change in operating assets and liabilities:
Decrease in accounts receivable	96,955	57,897
Increase in inventories	(8,139)	(83,973)
Increase in other current assets	(16,776)	(6,259)
Increase in other assets	(2,612)	(9,302)
Increase (decrease) in accounts payable and other current liabilities	46,721	(493)
Increase in deferred revenue and customer advances	32,053	34,926
Effect of the 2017 Tax Cuts & Jobs Act		(3,229)
Decrease in other liabilities	(48,332)	(40,957)
Net cash provided by operating activities	523,025	451,192
Cash flows from investing activities:
Additions to property, plant, equipment and software capitalization	(125,340)	(110,205)
Business acquisitions, net of cash acquired	(76,664)
Investment in unaffiliated companies	(3,850)	(7,250)
Purchases of investments	(22,458)	(35,523)
Maturities and sales of investments	1,751	978,419
Net cash (used in) provided by investing activities	(226,561)	825,441
Cash flows from financing activities:
Proceeds from debt issuances	315,000	600,362
Payments on debt	(425,366)	(390,482)
Payments of debt issuance costs		(2,932)
Proceeds from stock plans	28,421	34,311
Purchases of treasury shares	(196,353)	(1,909,700)
Proceeds from derivative contracts	10,330	6,900
Net cash used in financing activities	(267,968)	(1,661,541)
Effect of exchange rate changes on cash and cash equivalents	10,723	(6,723)
Increase (decrease) in cash and cash equivalents	39,219	(391,631)
Cash and cash equivalents at beginning of period	335,715	796,280
Cash and cash equivalents at end of period	$ 374,934	$ 404,649

CONSOLIDATED STATEMENTS OF STOC

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (DEFICIT) - USD ($) shares in Thousands, $ in Thousands	Total	Adoption of new accounting pronouncement	Common Stock [Member]	Additional Paid-In Capital [Member]	Retained Earnings [Member]	Retained Earnings [Member]Adoption of new accounting pronouncement	Treasury Stock [Member]	Accumulated Other Comprehensive Income (Loss) [Member]
Beginning balance at Dec. 31, 2018	$ 1,567,258		$ 1,605	$ 1,834,741	$ 5,995,205		$ (6,146,322)	$ (117,971)
Beginning Balance, shares at Dec. 31, 2018			160,472
Net income	391,529				391,529
Other comprehensive income (loss)	(1,610)							(1,610)
Issuance of common stock for Employee Stock Purchase Plan	5,971			5,971
Issuance of common stock for Employee Stock Purchase Plan, shares			33
Issuance of common stock for stock options exercised	28,478		$ 3	28,475
Issuance of common stock for stock options exercised, shares			256
Treasury stock	(1,904,711)						(1,904,711)
Stock-based compensation	28,585		$ 1	28,584
Stock-based compensation, shares			108
Ending balance at Sep. 28, 2019	115,500		$ 1,609	1,897,771	6,386,734		(8,051,033)	(119,581)
Ending Balance, shares at Sep. 28, 2019			160,869
Beginning balance at Jun. 29, 2019	556,245		$ 1,608	1,883,958	6,248,601		(7,462,826)	(115,096)
Beginning Balance, shares at Jun. 29, 2019			160,841
Net income	138,133				138,133
Other comprehensive income (loss)	(4,485)							(4,485)
Issuance of common stock for Employee Stock Purchase Plan	1,803			1,803
Issuance of common stock for Employee Stock Purchase Plan, shares			8
Issuance of common stock for stock options exercised	2,378			2,378
Issuance of common stock for stock options exercised, shares			19
Treasury stock	(588,207)						(588,207)
Stock-based compensation	9,633		$ 1	9,632
Stock-based compensation, shares			1
Ending balance at Sep. 28, 2019	115,500		$ 1,609	1,897,771	6,386,734		(8,051,033)	(119,581)
Ending Balance, shares at Sep. 28, 2019			160,869
Beginning balance at Dec. 31, 2019	(216,281)	$ (985)	$ 1,610	1,926,753	6,587,403	$ (985)	(8,612,576)	(119,471)
Beginning Balance, shares at Dec. 31, 2019			161,030
Net income	303,260				303,260
Other comprehensive income (loss)	(7,205)							(7,205)
Issuance of common stock for Employee Stock Purchase Plan	5,593			5,593
Issuance of common stock for Employee Stock Purchase Plan, shares			31
Issuance of common stock for stock options exercised	22,946		$ 2	22,944
Issuance of common stock for stock options exercised, shares			184
Treasury stock	(176,352)						(176,352)
Stock-based compensation	27,443		$ 2	27,441
Stock-based compensation, shares			136
Ending balance at Sep. 26, 2020	(41,581)		$ 1,614	1,982,731	6,889,678		(8,788,928)	(126,676)
Ending Balance, shares at Sep. 26, 2020			161,381
Beginning balance at Jun. 27, 2020	(191,742)		$ 1,613	1,959,498	6,762,909		(8,788,872)	(126,890)
Beginning Balance, shares at Jun. 27, 2020			161,273
Net income	126,769				126,769
Other comprehensive income (loss)	214							214
Issuance of common stock for Employee Stock Purchase Plan	1,641			1,641
Issuance of common stock for Employee Stock Purchase Plan, shares			10
Issuance of common stock for stock options exercised	12,041		$ 1	12,040
Issuance of common stock for stock options exercised, shares			97
Treasury stock	(56)						(56)
Stock-based compensation	9,552			9,552
Stock-based compensation, shares			1
Ending balance at Sep. 26, 2020	$ (41,581)		$ 1,614	$ 1,982,731	$ 6,889,678		$ (8,788,928)	$ (126,676)
Ending Balance, shares at Sep. 26, 2020			161,381

Basis of Presentation and Summa

Basis of Presentation and Summary of Significant Accounting Policies	9 Months Ended
	Sep. 26, 2020
Accounting Policies [Abstract]
Basis of Presentation and Summary of Significant Accounting Policies	1 Basis of Presentation and Summary of Significant Accounting Policies Waters Corporation (the “Company,” “we,” “our,” or “us”) is a specialty measurement company that operates with a fundamental underlying purpose to advance the science that enables our customers to enhance human health and well-being. The Company has pioneered analytical workflow solutions involving liquid chromatography, mass spectrometry and thermal analysis innovations serving the life, materials and food sciences for more than 60 years. The Company primarily designs, manufactures, sells and services high performance liquid chromatography (“HPLC”), ultra performance liquid chromatography (“UPLC TM (“LC-MS”) LC-MS TM The Company’s interim fiscal quarter typically ends on the thirteenth Saturday of each quarter. Since the Company’s fiscal year end is December 31, the first and fourth fiscal quarters may have more or less than thirteen complete weeks. The Company’s third fiscal quarters for 2020 and 2019 ended on September 26, 2020 and September 28, 2019, respectively. The accompanying unaudited interim consolidated financial statements have been prepared in accordance with the instructions to the Quarterly Report on Form 10-Q The preparation of consolidated financial statements in conformity with U.S. GAAP requires the Company to make estimates and judgments that affect the reported amounts of assets, liabilities, revenues and expenses, and related disclosure of contingent liabilities at the dates of the financial statements. Actual amounts may differ from these estimates under different assumptions or conditions. It is management’s opinion that the accompanying interim consolidated financial statements reflect all adjustments (which are normal and recurring) that are necessary for a fair statement of the results for the interim periods. The interim consolidated financial statements should be read in conjunction with the consolidated financial statements included in the Company’s Annual Report on Form 10-K Risks and Uncertainties The Company is subject to risks common to companies in the analytical instrument industry, including, but not limited to, global economic and financial market conditions, fluctuations in foreign currency exchange rates, fluctuations in customer demand, development by its competitors of new technological innovations, costs of developing new technologies, levels of debt and debt service requirements, risk of disruption, dependence on key personnel, protection and litigation of proprietary technology, shifts in taxable income between tax jurisdictions and compliance with regulations of the U.S. Food and Drug Administration and similar foreign regulatory authorities and agencies. Both the Company’s domestic and international operations have been and continue to be adversely affected by the ongoing global pandemic of a novel strain of coronavirus (“COVID-19”) COVID-19 Trump announced a National Emergency relating to the disease. Since then, COVID-19 COVID-19 It is unclear whether increases in the number of infections will continue and amplify as certain areas of the economy are re-opened COVID-19 COVID-19 In the nine months ended September 26, 2020 as compared to the nine months ended September 28, 2019, the Company experienced a decline in net sales of 7% due in large part to the COVID-19 interim Translation of Foreign Currencies The functional currency of each of the Company’s foreign operating subsidiaries is the local currency of its country of domicile, except for the Company’s subsidiaries in Hong Kong, Singapore and the Cayman Islands, where the underlying transactional cash flows are denominated in currencies other than the respective local currency of domicile. The functional currency of the Hong Kong, Singapore and Cayman Islands subsidiaries is the U.S. dollar, based on the respective entity’s cash flows. For most of the Company’s foreign operations, assets and liabilities are translated into U.S. dollars at exchange rates prevailing on the balance sheet date, while revenues and expenses are translated at average exchange rates prevailing during the respective period. Any resulting translation gains or losses are included in accumulated other comprehensive income in the consolidated balance sheets. Cash, Cash Equivalents and Investments Cash equivalents represent highly liquid investments, with original maturities of 90 days or less, while investments with longer maturities are classified as investments. The Company maintains cash balances in various operating accounts in excess of federally insured limits, and in foreign subsidiary accounts in currencies other than the U.S. dollar. As of September 26, 2020 and December 31, 2019, $359 million out of $397 million and $249 million out of $337 million, respectively, of the Company’s total cash, cash equivalents and investments were held by foreign subsidiaries. In addition, $262 million out of $397 million and $176 million out of $337 million of cash, cash equivalents and investments were held in currencies other than the U.S. dollar at September 26, 2020 and December 31, 2019, respectively. Accounts Receivable and Allowance for Credit Losses The Company adopted new accounting guidance regarding the accounting for credit losses as of January 1, 2020 using a modified retrospective transition approach that was applied to the trade receivable balance as of January 1, 2020. This new accounting guidance required the Company to move from an incurred loss model to a current expected credit loss (“CECL”) model. Upon adoption, the Company recorded a net decrease of approximately $1 million to the Company’s stockholders’ deficit as of January 1, 2020. The adoption of this standard did not have a material impact on the Company’s balance sheets, results of operations or cash flows. Trade accounts receivable are recorded at the invoiced amount and do not bear interest. The Company has very limited use of rebates and other cash considerations payable to customers and, as a result, the transaction price determination does not have any material variable consideration. The Company does not consider there to be significant concentrations of credit risk with respect to trade receivables due to the short-term nature of the balances, the Company having a large and diverse customer base, and the Company having a strong historical experience of collecting receivables with minimal defaults. As a result, credit risk is considered low across territories and trade receivables are considered to be a single class of financial asset. The allowance for credit losses is based on a number of factors and is calculated by applying a historical loss rate to trade receivable aging balances to estimate a general reserve balance along with an additional adjustment for any specific receivables with known or anticipated issues affecting the likelihood of recovery. Past due balances with a probability of default based on historical data as well as relevant available forward-looking information are included in the specific adjustment. The historical loss rate is reviewed on at least an annual basis and the allowance for credit losses is reviewed quarterly for any required adjustments. The Company does not have any off-balance sheet credit exposure related to its customers. Trade receivables related to instrument sales are collateralized by the instrument that is sold. If there is a risk of default related to a receivable that is collateralized, then the fair value of the collateral is calculated and adjusted for the cost to re-possess, re-sell Any recovery of amounts that were written off prior to adoption of the new CECL standard that are received after adoption are recorded in income in the period in which they are received. The following is a summary of the activity of the Company’s allowance for doubtful accounts for the Balance at Impact of Additions Deduction Balance at Allowance for Doubtful Accounts September 26, 2020 $ 9,560 $ 985 $ 7,826 $ (5,784 ) $ 12,587 September 28, 2019 $ 7,663 $ — $ 6,014 $ (5,461 ) $ 8,216 Other Investments During the nine months ended September 26, 2020 and September 28, 2019, the Company made investments in unaffiliated companies of $4 million and $7 million, respectively. During the nine months ended September 26, 2020, the Company recorded an unrealized loss on an equity security still held at the reporting date of approximately $1 million within other expense on the income statement. This unrealized loss was recorded as a downward price adjustment to the carrying value of the investment due to an observable price change of a similar security issued during the current period. Fair Value Measurements In accordance with the accounting standards for fair value measurements and disclosures, certain of the Company’s assets and liabilities are measured at fair value on a recurring basis as of September 26, 2020 and December 31, 2019. Fair values determined by Level 1 inputs utilize observable data, such as quoted prices in active markets. Fair values determined by Level 2 inputs utilize data points other than quoted prices in active markets that are observable either directly or indirectly. Fair values determined by Level 3 inputs utilize unobservable data points for which there is little or no market data, which require the reporting entity to develop its own assumptions. The following table represents the Company’s assets and liabilities measured at fair value on a recurring basis at September 26, 2020 (in thousands): Total at Quoted Prices Significant Significant Assets: Time deposits $ 22,136 $ — $ 22,136 $ — Waters 401(k) Restoration Plan assets 34,466 34,466 — — Foreign currency exchange contracts 832 — 832 — Total $ 57,434 $ 34,466 $ 22,968 $ — Liabilities: Contingent consideration $ 2,903 $ — $ — $ 2,903 Foreign currency exchange contracts 390 — 390 — Interest rate cross-currency swap agreements 15,190 — 15,190 — Total $ 18,483 $ — $ 15,580 $ 2,903 The following table represents the Company’s assets and liabilities measured at fair value on a recurring basis at December 31, 2019 (in thousands): Total at Quoted Prices Significant Significant Assets: Time deposits $ 1,642 $ — $ 1,642 $ — Waters 401(k) Restoration Plan assets 30,158 30,158 — — Foreign currency exchange contracts 16 — 16 — Interest rate cross-currency swap agreements 4,485 4,485 Total $ 36,301 $ 30,158 $ 6,143 $ — Liabilities: Contingent consideration $ 2,557 $ — $ — $ 2,557 Foreign currency exchange contracts 1,028 — 1,028 — Total $ 3,585 $ — $ 1,028 $ 2,557 Fair Value of 401(k) Restoration Plan Assets The 401(k) Restoration Plan is a nonqualified defined contribution plan and the assets were held in registered mutual funds and have been classified as Level 1. The fair values of the assets in the plan are determined through market and observable sources from daily quoted prices on nationally recognized securities exchanges. Fair Value of Cash Equivalents, Investments, Foreign Currency Exchange Contracts and Interest Rate Cross-Currency Swap Agreements The fair values of the Company’s cash equivalents, investments and foreign currency exchange contracts are determined through market and observable sources and have been classified as Level 2. These assets and liabilities have been initially valued at the transaction price and subsequently valued, typically utilizing third-party pricing services. The pricing services use many inputs to determine value, including reportable trades, benchmark yields, credit spreads, broker/dealer quotes, current spot rates and other industry and economic events. The Company validates the prices provided by third-party pricing services by reviewing their pricing methods and obtaining market values from other pricing sources. Fair Value of Contingent Consideration The fair value of the Company’s liability for contingent consideration relates to earnout payments in connection with the July 2014 acquisition of Medimass Research, Development and Service Kft. and is determined using a probability-weighted discounted cash flow model, which uses significant unobservable inputs, and has been classified as Level 3. Subsequent changes in the fair value of the contingent consideration liability are recorded in the results of operations. The fair value of the contingent consideration liability associated with future earnout payments is based on several factors, including the estimated future results and a discount rate that reflects both the likelihood of achieving the estimated future results and the Company’s creditworthiness. A change in any of these unobservable inputs can significantly change the fair value of the contingent consideration. Although there is no contractual limit, the fair value of future contingent consideration payments was estimated to be $3 million at both September 26, 2020 and December 31, 2019, based on the Company’s best estimate, as the earnout is based on future sales of certain products, some of which are currently in development, through 2034. Fair Value of Other Financial Instruments The Company’s accounts receivable, accounts payable and variable interest rate debt are recorded at cost, which approximates fair value due to their short-term nature. The carrying value of the Company’s fixed interest rate debt was $910 million and $1.0 billion at September 26, 2020 and December 31, 2019, respectively. The fair value of the Company’s fixed interest rate debt was estimated using discounted cash flow models, based on estimated current rates offered for similar debt under current market conditions for the Company. The fair value of the Company’s fixed interest rate debt was estimated to be $938 million and $1.0 billion at September 26, 2020 and December 31, 2019, respectively, using Level 2 inputs. Derivative Transactions The Company is a global company that operates in over 35 countries and, as a result, the Company’s net sales, cost of sales, operating expenses and balance sheet amounts are significantly impacted by fluctuations in foreign currency exchange rates. The Company is exposed to currency price risk on foreign currency exchange rate fluctuations when it translates its non-U.S. The Company’s principal strategies in managing exposures to changes in foreign currency exchange rates are to (1) naturally hedge the foreign-currency-denominated liabilities on the Company’s balance sheet against corresponding assets of the same currency, such that any changes in liabilities due to fluctuations in foreign currency exchange rates are typically offset by corresponding changes in assets and (2) mitigate foreign exchange risk exposure of international operations by hedging the variability in the movement of foreign currency exchange rates on a portion of its Euro-denominated net asset investments. The Company presents the derivative transactions in financing activities in the statement of cash flows. Foreign Currency Exchange Contracts The Company does not specifically enter into any derivatives that hedge foreign-currency-denominated operating assets, liabilities or commitments on its balance sheet, other than a portion of certain third-party accounts receivable and accounts payable, and the Company’s net worldwide intercompany receivables and payables, which are eliminated in consolidation. The Company periodically aggregates its net worldwide balances by currency and then enters into foreign currency exchange contracts that mature within 90 days to hedge a portion of the remaining balance to minimize some of the Company’s currency price risk exposure. The foreign currency exchange contracts are not designated for hedge accounting treatment. Principal hedged currencies include the Euro, Japanese yen, British pound, Mexican peso and Brazilian real. Interest Rate Cross-Currency Swap Agreements As of September 26, 2020, the Company had entered into three-year The Company’s foreign currency exchange contracts and interest rate cross-currency swap agreements included in the consolidated balance sheets are classified as follows (in thousands): September 26, 2020 December 31, 2019 Notional Fair Notional Fair Foreign currency exchange contracts: Other current assets $ 57,380 $ 832 $ 119,576 $ 16 Other current liabilities $ 65,536 $ 390 $ 29,495 $ 1,028 Interest rate cross-currency swap agreements: Other (liabilities) assets $ 560,000 $ (15,190 ) $ 560,000 $ 4,485 Accumulated other comprehensive loss (income) $ 15,190 $ (4,485 ) The following is a summary of the activity included in the statements of comprehensive income related to the foreign currency exchange contracts (in thousands): Financial Statement Classification Three Months Ended Nine Months Ended September 26, September 28, September 26, September 28, Foreign currency exchange contracts: Realized gains (losses) on closed contracts Cost of sales $ 1,113 $ (3,340 ) $ (45 ) $ (5,858 ) Unrealized gains (losses) on open contracts Cost of sales 808 (633 ) 1,455 (1,040 ) Cumulative net pre-tax Cost of sales $ 1,921 $ (3,973 ) $ 1,410 $ (6,898 ) Interest rate cross-currency swap agreements: Interest earned Interest income $ 3,777 $ 2,698 $ 11,275 $ 7,848 Unrealized gains on open contracts Stockholders’ deficit $ 19,582 $ 15,847 $ 19,675 $ 15,852 Stockholders’ Equity In January 2019, the Company’s Board of Directors authorized outstanding two pre-existing COVID-19 The Company had $20 million of treasury stock purchases that were accrued and unsettled at December 31, 2019. These transactions were settled in January 2020. There were no unsettled treasury stock purchases as of September 26, 2020, while the Company had accrued $18 million for such purchases as of September 28, 2019, which settled in the subsequent quarter.​​​​​​​ Product Warranty Costs The Company accrues estimated product warranty costs at the time of sale, which are included in cost of sales in the consolidated statements of operations. While the Company engages in extensive product quality programs and processes, including actively monitoring and evaluating the quality of its component suppliers, the Company’s warranty obligation is affected by product failure rates, material usage and service delivery costs incurred in correcting a product failure. The amount of the accrued warranty liability is based on historical information, such as past experience, product failure rates, number of units repaired and estimated costs of material and labor. The liability is reviewed for reasonableness at least quarterly. The following is a summary of the activity of the Company’s accrued warranty liability for the nine months ended September 26, 2020 and September 28, 2019 (in thousands): Balance at Beginning of Period Accruals for Warranties Settlements Made Balance at End of Period Accrued warranty liability: September 26, 2020 $ 11,964 $ 5,442 $ (7,145 ) $ 10,261 September 28, 2019 $ 12,300 $ 5,271 $ (6,094 ) $ 11,477 Restructuring In January 2020, the Company made organizational changes to better align its resources with its growth and innovation strategies, resulting in a worldwide workforce reduction, impacting 3% of the Company’s employees. During the three and nine months ended September 26, 2020, the Company incurred $6 million and $27 million, respectively, of severance-related costs, lease termination costs and other related costs. The Company expects to incur an additional $4 million of costs for the remainder of the year.

Revenue Recognition

Revenue Recognition	9 Months Ended
	Sep. 26, 2020
Revenue from Contract with Customer [Abstract]
Revenue Recognition	2 Revenue Recognition The Company’s deferred revenue liabilities on the consolidated balance sheets consist of the obligation on instrument service contracts and customer payments received in advance, prior to transfer of control of the instrument. The Company records deferred revenue primarily related to its service contracts, where consideration is billable at the beginning of the service period. The following is a summary of the activity of the Company’s deferred revenue and customer advances for the nine months ended September 26, 2020 and September 28, 2019 (in thousands): September 26, September 28, Balance at the beginning of the period $ 213,695 $ 204,257 Recognition of revenue included in balance at beginning of the period (177,667 ) (174,929 ) Revenue deferred during the period, net of revenue recognized 213,895 206,093 Balance at the end of the period $ 249,923 $ 235,421 The Company classified $39 million and $38 million of deferred revenue and customer advances in other long-term liabilities at September 26, 2020 and December 31, 2019, respectively. The amount of deferred revenue and customer advances equals the transaction price allocated to unfulfilled performance obligations for the period presented. Such amounts are expected to be recognized in the future as follows (in thousands): September 26, 2020 Deferred revenue and customer advances expected to be recognized in: One $ 211,348 13-24 months 22,452 25 16,123 Total $ 249,923

Marketable Securities

Marketable Securities	9 Months Ended
	Sep. 26, 2020
Investments, Debt and Equity Securities [Abstract]
Marketable Securities	3 Marketable Securities The Company’s marketable securities within cash equivalents and investments included in the consolidated balance sheets are detailed as follows (in thousands): September 26, 2020 Amortized Cost Unrealized Gain Unrealized Loss Fair Value Time deposits 22,136 — — 22,136 Total $ 22,136 $ — $ — $ 22,136 Amounts included in: Investments 22,136 — — 22,136 Total $ 22,136 $ — $ — $ 22,136 December 31, 2019 Amortized Cost Unrealized Gain Unrealized Loss Fair Value Time deposits 1,642 — — 1,642 Total $ 1,642 $ — $ — $ 1,642 Amounts included in: Cash equivalents $ 213 $ — $ — $ 213 Investments 1,429 — — 1,429 Total $ 1,642 $ — $ — $ 1,642 The estimated fair value of marketable debt securities by maturity date is as follows (in thousands): September 26, 2020 December 31, 2019 Due in one year or less $ 22,136 $ 1,642 Total $ 22,136 $ 1,642

Inventories

Inventories	9 Months Ended
	Sep. 26, 2020
Inventory Disclosure [Abstract]
Inventories	4 Inventories Inventories are classified as follows (in thousands): September 26, 2020 December 31, 2019 Raw materials $ 134,527 $ 126,850 Work in progress 20,183 15,457 Finished goods 172,236 178,244 Total inventories $ 326,946 $ 320,551

Acquisitions

Acquisitions	9 Months Ended
	Sep. 26, 2020
Business Combinations [Abstract]
Acquisitions	5 Acquisitions On January 15, 2020, the Company acquired all of the outstanding stock of Andrew Alliance, S.A. and its two operating subsidiaries, Andrew Alliance USA, Inc. and Andrew Alliance France, SASU (collectively, “Andrew Alliance”), for $80 million, net of cash acquired. The Company had an equity investment in Andrew Alliance that was valued at $4 million and included as part of the total consideration. Andrew Alliance offers lab workflow automation solutions with the combination of its software platform and smart, connected laboratory equipment and accessories. The Company allocated $7 million of the purchase price to intangible assets comprised of developed technology, trade name and customer relationships. The developed technology and customer relationships will be amortized over ten years and the trade name will be amortized over 3 years. The Company allocated $72 million of the purchase price to goodwill, which is not deductible for tax purposes. The principal factor that resulted in recognition of goodwill in the acquisition was that the purchase price was based, in part, on cash flow projections assuming the integration of any acquired technology, distribution channels and products with the Company’s products, which are higher than if the acquired companies’ technology, customer access or products were utilized on a stand-alone basis. The goodwill also includes value assigned to assembled workforce, which cannot be recognized as an intangible asset. In addition, the sellers provided the Company with customary representations, warranties and indemnification, which would be settled in the future if and when a breach of the contractual representation or warranty condition occurs. The fair values of the assets and liabilities acquired were determined using various income-approach valuation techniques, which use Level 3 inputs. The following table presents the fair values as of the acquisition date, as determined by the Company, of 100% of the assets and liabilities owned and recorded in connection with the acquisition of Andrew Alliance (in thousands): Cash $ 713 Accounts receivable and current other assets 806 Inventory 669 Prepaid and other assets 611 Property, plant and equipment, net 757 Operating lease assets 847 Intangible assets 6,960 Goodwill 71,632 Total assets acquired 82,995 Accrued expenses and other liabilities 2,093 Total consideration 80,902 Fair value of minority investment 3,525 Cash consideration paid $ 77,377 The impact of the Andrew Alliance acquisition on the Company’s revenues and net income during the quarter was immaterial. The year-to-date pr o

Goodwill and Other Intangibles

Goodwill and Other Intangibles	9 Months Ended
	Sep. 26, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Other Intangibles	6 Goodwill and Other Intangibles The carrying amount of goodwill was $431 million and $356 million at September 26, 2020 and December 31, 2019, respectively. The acquisition of Andrew Alliance increased goodwill by $72 million while the effect of foreign currency translation decreased goodwill by $3 million. The Company’s intangible assets included in the consolidated balance sheets are detailed as follows (dollars in thousands): September 26, 2020 December 31, 2019 Gross Accumulated Weighted- Gross Accumulated Weighted- Capitalized software $ 542,127 $ 378,999 5 years $ 481,986 $ 333,255 5 years Purchased intangibles 209,877 159,747 11 years 200,523 151,722 11 years Trademarks and IPR&D 13,702 — — 13,782 — — Licenses 5,600 5,345 6 years 5,669 5,298 6 years Patents and other intangibles 86,972 59,019 8 years 83,035 54,517 8 years Total $ 858,278 $ 603,110 7 years $ 784,995 $ 544,792 7 years The gross carrying value of intangible assets and accumulated amortization for intangible assets increased by $25 million and $17 million, respectively, in the nine months ended September 26, 2020 due to the effects of foreign currency translation. Amortization expense for intangible assets was $15 million and $13 million for the three months ended September 26, 2020 and September 28, 2019, respectively. Amortization expense for intangible assets was $ 42 38

Debt

Debt	9 Months Ended
	Sep. 26, 2020
Debt Disclosure [Abstract]
Debt	7 Debt In November 2017, the Company entered into a credit agreement (the “2017 Credit Agreement”) that provides for a $1.5 billion revolving facility and a $300 million term loan. As of September 26, 2020 and December 31, 2019, the revolving facility and term loan had a total of $615 million and $625 million, respectively, outstanding and mature on November 30, 2022 and require no scheduled prepayments before that date. The interest rates applicable to the 2017 Credit Agreement are, at the Company’s option, equal to either the alternate base rate (which is a rate per annum equal to the greatest of (1) the prime rate in effect on such day, (2) the Federal Reserve Bank of New York Rate on such day plus 1/2 of 1% per annum and (3) the adjusted LIBO rate on such day (or if such day is not a business day, the immediately preceding business day) for a deposit in U.S. dollars with a maturity of one month plus 1% per annum) or the applicable 1, 2, 3 or 6 month adjusted LIBO rate or EURIBO rate for Euro-denominated loans, in each case, plus an interest rate margin based upon the Company’s leverage ratio, which can range between 0 and 12.5 basis points for alternate base rate loans and between 80 and 112.5 basis points for LIBO rate or EURIBO rate loans. The facility fee on the 2017 Credit Agreement ranges between 7.5 and 25 basis points per annum, based on the leverage ratio, of the amount of the revolving facility commitments and the outstanding term loan. The 2017 Credit Agreement requires that the Company comply with an interest coverage ratio test of not less than 3.50:1 as of the end of any fiscal quarter for any period of four consecutive fiscal quarters and a leverage ratio test of not more than 3.50:1 as of the end of any fiscal quarter. In addition, the 2017 Credit Agreement includes negative covenants, affirmative covenants, representations and warranties and events of default that are customary for investment grade credit facilities. As of September 26, 2020 and December 31, 2019, the Company had a total of $960 million and $1.1 billion, respectively, of outstanding senior unsecured notes. Interest on the fixed rate senior unsecured notes is payable semi-annually each year. Interest on the floating rate senior unsecured notes is payable quarterly. The Company may prepay all or some of the senior unsecured notes at any time in an amount not less than 10% of the aggregate principal amount outstanding, plus the applicable make-whole amount or prepayment premium for the Series H senior unsecured note. In the event of a change in control of the Company (as defined in the note purchase agreement), the Company may be required to prepay the senior unsecured notes at a price equal to 100% of the principal amount thereof, plus accrued and unpaid interest. These senior unsecured notes require that the Company comply with an interest coverage ratio test of not less than 3.50:1 for any period of four consecutive fiscal quarters and a leverage ratio test of not more than 3.50:1 as of the end of any fiscal quarter. In addition, these senior unsecured notes include customary negative covenants, affirmative covenants, representations and warranties and events of default. In February 2019, certain defined terms related to the subsidiary guarantors were amended in the 2017 Credit Agreement and senior unsecured note agreements. In addition, the Company amended the senior unsecured note agreements to allow the Company to elect an increase in the permitted leverage ratio from 3.50:1 to 4.0:1, for a period of three consecutive quarters, for a material acquisition of $400 million or more. During the period of time where the leverage ratio exceeds 3.50:1, the interest payable on the senior unsecured notes shall increase by 0.50%. The debt covenants in the senior unsecured note agreements were also modified to address the change in accounting guidance for leases. The Company had the following outstanding debt at September 26, 2020 and December 31, 2019 (in thousands): September 26, 2020 December 31, 2019 Foreign subsidiary lines of credit $ — $ 366 Senior unsecured notes – Series B – 5.00%, due February 2020 — 100,000 Senior unsecured notes – Series E – 3.97%, due March 2021 50,000 — Senior unsecured notes – Series F – 3.40%, due June 2021 100,000 — Total notes payable and debt, current 150,000 100,366 Senior unsecured notes – Series E – 3.97%, due March 2021 — 50,000 Senior unsecured notes – Series F – 3.40%, due June 2021 — 100,000 Senior unsecured notes – Series G – 3.92%, due June 2024 50,000 50,000 Senior unsecured notes – Series H – floating rate*, due June 2024 50,000 50,000 Senior unsecured notes – Series I – 3.13%, due May 2023 50,000 50,000 Senior unsecured notes – Series K – 3.44%, due May 2026 160,000 160,000 Senior unsecured notes – Series L – 3.31%, due September 2026 200,000 200,000 Senior unsecured notes – Series M – 3.53%, due September 2029 300,000 300,000 Credit agreement 615,000 625,000 Unamortized debt issuance costs (3,663 ) (4,203 ) Total long-term debt 1,421,337 1,580,797 Total debt $ 1,571,337 $ 1,681,163 * Series H senior unsecured 3-month As of both September 26, 2020 and December 31, 2019, the Company had a total amount available to borrow under the 2017 Credit Agreement of $1.2 billion after outstanding letters of credit. The weighted-average interest rates applicable to the senior unsecured notes and credit agreement borrowings collectively were 2.68% and 3.39% at September 26, 2020 and December 31, 2019, respectively. As of September 26, 2020, the Company was in compliance with all debt covenants. The Company and its foreign subsidiaries also had available short-term lines of credit totaling $108 million and $105 million at September 26, 2020 and December 31, 2019, respectively, for the purpose of short-term borrowing and issuance of commercial guarantees. The weighted-average interest rate applicable to these short-term borrowings was 1.48% for December 31, 2019. None of the Company’s foreign subsidiaries had outstanding short-term borrowings as of September 26, 2020. three-year

Income Taxes

Income Taxes	9 Months Ended
	Sep. 26, 2020
Income Tax Disclosure [Abstract]
Income Taxes	8 Income Taxes The four principal jurisdictions in which the Company manufactures are the U.S., Ireland, the U.K. and Singapore, where the statutory tax rates were 21%, 12.5%, 19% and 17%, respectively, as of September 26, 2020. The Company has a contractual tax rate of 0% on qualifying activities in Singapore through March 2021, based upon the achievement of certain contractual milestones, which the Company expects to meet. The effect of applying the contractual tax rate rather than the statutory tax rate to income from qualifying activities in Singapore increased the Company’s net income for the nine months ended September 26, 2020 and September 28, 2019 by $12 million and $15 million, respectively, and increased the Company’s net income per diluted share by $0.20 and $0.21, respectively. The Company’s effective tax rate for the three months ended September 26, 2020 and September 28, 2019 was 15.7% and 16.1%, respectively. The decrease in the effective income tax rate can be attributed to differences in the proportionate amounts of pre-tax The Company’s effective tax rate for the nine months ended September 26, 2020 and September 28, 2019 was 14.3% and 13.7%, respectively. The effective tax rate for the nine months ended September 26, 2020 includes a $6 million income tax benefit related to certain restructuring charges and a $3 million tax benefit related to stock-based compensation. These income tax benefits decreased the effective tax rate by 1.8 percentage points and 0.9 percentage points, respectively, for the nine months ended September 26, 2020. The effective tax rate for the nine months ended September 28, 2019 includes a $3 million income tax benefit related to the finalization of certain regulations relating to the Tax Cuts and Jobs Act of 2017 and a $7 million income tax benefit related to stock-based compensation. These income tax benefits decreased the effective tax rate by 0.7 percentage points and 1.5 percentage points, respectively, for the nine months ended September 28, 2019. The remaining differences between the effective tax rates can primarily be attributed to differences in the proportionate amounts of pre-tax The Company accounts for its uncertain tax return reporting positions in accordance with the accounting standards for income taxes, which require financial statement reporting of the expected future tax consequences of uncertain tax reporting positions on the presumption that all concerned tax authorities possess full knowledge of those tax reporting positions, as well as all of the pertinent facts and circumstances, but prohibit any discounting of unrecognized tax benefits associated with those reporting positions for the time value of money. The Company continues to classify interest and penalties related to unrecognized tax benefits as a component of the provision for income taxes. The following is a summary of the activity of the Company’s gross unrecognized tax benefits, excluding interest and penalties, for the nine months ended September 26, 2020 and September 28, 2019 (in thousands): September 26, 2020 September 28, 2019 Balance at the beginning of the period $ 27,790 $ 26,108 Net reductions for lapse of statutes taken during the period (427 ) (173 ) Net additions for tax positions taken during the current period 907 1,314 Balance at the end of the period $ 28,270 $ 27,249 With limited exceptions, the Company is no longer subject to tax audit examinations in significant jurisdictions for the years ended on or before December 31, 2014. The Company continuously monitors the lapsing of statutes of limitations on potential tax assessments for related changes in the measurement of unrecognized tax benefits, related net interest and penalties, and deferred tax assets and liabilities. As of September 26, 2020, the Company expects to record reductions in the measurement of its unrecognized tax benefits and related net interest and penalties of less than $1 million within the next twelve months due to potential tax audit settlements and the lapsing of statutes of limitations on potential tax assessments. The Company does not expect to record any other material reductions in the measurement of its unrecognized tax benefits within the next twelve months.

Stock-Based Compensation

Stock-Based Compensation	9 Months Ended
	Sep. 26, 2020
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Stock-Based Compensation	9 Stock-Based Compensation The Company maintains various stockholder-approved, stock-based compensation plans which allow for the issuance of incentive or non-qualified In May 2020, the Company’s stockholders approved the Company’s 2020 Equity Incentive Plan (“2020 Plan”). As of September 26, 2020, the 2020 Plan had 6.5 million shares available for grant in the form of incentive or non-qualified five-year The Company accounts for stock-based compensation costs in accordance with the accounting standards for stock-based compensation, which require that all share-based payments to employees be recognized in the statements of operations, based on their grant date fair values. The Company recognizes the expense using the straight-line attribution method. The stock-based compensation expense recognized in the consolidated statements of operations is based on awards that ultimately are expected to vest; therefore, the amount of expense has been reduced for estimated forfeitures. Forfeitures are estimated based on historical experience. If actual results differ significantly from these estimates, stock-based compensation expense and the Company’s results of operations could be materially impacted. In addition, if the Company employs different assumptions in the application of these standards, the compensation expense that the Company records in the future periods may differ significantly from what the Company has recorded in the current period. The consolidated statements of operations for the three and nine months ended September 26, 2020 and September 28, 2019 include the following stock-based compensation expense related to stock option awards, restricted stock awards, restricted stock unit awards, performance stock unit awards and the employee stock purchase plan (in thousands): Three Months Ended Nine Months Ended September 26, September 28, September 26, September 28, Cost of sales $ 645 $ 531 $ 1,850 $ 1,673 Selling and administrative expenses 7,747 7,766 22,472 23,293 Research and development expenses 1,201 1,365 3,393 3,951 Total stock-based compensation $ 9,593 $ 9,662 $ 27,715 $ 28,917 Stock Options In determining the fair value of the stock options, the Company makes a variety of assumptions and estimates, including volatility measures, expected yields and expected stock option lives. The fair value of each option grant was estimated on the date of grant using the Black-Scholes option pricing model. The Company uses implied volatility on its publicly-traded options as the basis for its estimate of expected volatility. The Company believes that implied volatility is the most appropriate indicator of expected volatility because it is generally reflective of historical volatility and expectations of how future volatility will differ from historical volatility. The expected life assumption for grants is based on historical experience for the population of non-qualified is the yield currently available on U.S. Treasury zero-coupon Nine Months Ended Options Issued and Significant Assumptions Used to Estimate Option Fair Values September 26, September 28, Options issued in thousands 267 139 Risk-free interest rate 1.2 % 2.5 % Expected life in years 6 5 Expected volatility 27.8 % 24.3 % Expected dividends — — Nine Months Ended Weighted-Average Exercise Price and Fair Value of Options on the Date of Grant September 26, September 28, Exercise price $ 215.12 $ 231.30 Fair value $ 62.93 $ 61.85 The following table summarizes stock option activity for the plans for the nine months ended September 26, 2020 (in thousands, except per share data): Number of Shares Exercise Price per Share Weighted-Average Outstanding at December 31, 2019 1,455 $ 61.63 to $ 238.52 $ 158.61 Granted 267 $ 188.63 to $ 235.06 $ 215.12 Exercised (184 ) $ 61.63 to $ 208.47 $ 124.58 Canceled (150 ) $ 128.93 to $ 238.52 $ 176.27 Outstanding at September 26, 2020 1,388 $ 75.94 to $ 238.52 $ 172.08 Restricted Stock During the nine months ended September 26, 2020, the Company granted six thousand shares of restricted stock. The weighted-average fair value per share of these awards on the grant date was $229.67. Restricted Stock Units The following table summarizes the unvested restricted stock unit award activity for the nine months ended September 26, 2020 (in thousands, except per share data): Shares Weighted - Grant Date Fair Unvested at December 31, 2019 260 $ 184.70 Granted 119 $ 206.99 Vested (87 ) $ 162.12 Forfeited (18 ) $ 187.90 Unvested at September 26, 2020 274 $ 201.34 Restricted stock units are generally granted annually in February and vest in equal annual installments over a five-year Performance Stock Units The Company’s performance stock units are equity compensation awards with a market vesting condition based on the Company’s Total Shareholder Return (“TSR”) relative to the TSR of the components of the S&P Health Care Index. TSR is the change in value of a stock price over time, including the reinvestment of dividends. The vesting schedule ranges from 0% to 200% of the target shares awarded. Beginning with the grants made in 2020, the vesting conditions for performance stock units now include a performance condition based on future sales growth. In determining the fair value of the performance stock units, the Company makes a variety of assumptions and estimates, including volatility measures, expected yields and expected terms. The fair value of each performance stock unit grant was estimated on the date of grant using the Monte Carlo simulation model. The Company uses implied volatility on its publicly-traded options as the basis for its estimate of expected volatility. The Company believes that implied volatility is the most appropriate indicator of expected volatility because it is generally reflective of historical volatility and expectations of how future volatility will differ from historical volatility. The expected life assumption for grants is based on the performance period of the underlying performance stock units. The risk-free interest rate is the yield currently available on U.S. Treasury zero-coupon Nine Months Ended Performance Stock Units Issued and Significant Assumptions Used to Estimate Fair September 26, September 28, Performance stock units issued (in thousands) 58 13 Risk-free interest rate 1.3 % 2.4 % Expected life in years 2.9 2.8 Expected volatility 25.1 % 23.5 % Average volatility of peer companies 26.1 % 26.2 % Correlation coefficient 36.6 % 34.2 % Expected dividends — — The following table summarizes the unvested performance stock unit award activity for the nine months ended September 26, 2020 (in thousands, except per share data): Shares Weighted-Average Unvested at December 31, 2019 105 $ 233.11 Granted 58 $ 190.45 Vested (36 ) $ 184.51 Forfeited (25 ) $ 231.35 Unvested at September 26, 2020 102 $ 226.44

Earnings Per Share

Earnings Per Share	9 Months Ended
	Sep. 26, 2020
Earnings Per Share [Abstract]
Earnings Per Share	10 Earnings Per Share Basic and diluted EPS calculations are detailed as follows (in thousands, except per share data): Three Months Ended September 26, 2020 Net Income Weighted- Per Share (Numerator) (Denominator) Amount Net income per basic common share $ 126,769 62,002 $ 2.04 Effect of dilutive stock option, restricted stock, performance stock unit and restricted stock unit securities — 301 (0.01 ) Net income per diluted common share $ 126,769 62,303 $ 2.03 Three Months Ended September 28, 2019 Net Income Weighted- Per Share (Numerator) (Denominator) Amount Net income per basic common share $ 138,133 66,226 $ 2.09 Effect of dilutive stock option, restricted stock, performance stock unit and restricted stock unit securities — 542 (0.02 ) Net income per diluted common share $ 138,133 66,768 $ 2.07 Nine Months Ended September 26, 2020 Net Income Weighted- Per Share (Numerator) (Denominator) Amount Net income per basic common share $ 303,260 62,057 $ 4.89 Effect of dilutive stock option, restricted stock, performance stock unit and restricted stock unit securities — 314 (0.03 ) Net income per diluted common share $ 303,260 62,371 $ 4.86 Nine Months Ended September 28, 2019 Net Income Weighted- Per Share (Numerator) (Denominator) Amount Net income per basic common share $ 391,529 68,952 $ 5.68 Effect of dilutive stock option, restricted stock, performance stock unit and restricted stock unit securities — 581 (0.05 ) Net income per diluted common share $ 391,529 69,533 $ 5.63 For the three and nine months ended September 26, 2020, the Company had 0.4 million and 0.5 million stock that were antidilutive due to having higher exercise prices than the Company’s average stock price during the period. For both the three and nine months ended September 28, 2019, the Company had 0.1 million stock options that were antidilutive. These securities were not included in the computation of diluted EPS. The effect of dilutive securities was calculated using the treasury stock method.

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income	9 Months Ended
	Sep. 26, 2020
Equity [Abstract]
Accumulated Other Comprehensive Income	11 Accumulated Other Comprehensive Income The components of accumulated other comprehensive Currency Translation Unrealized Accumulated Other Balance at December 31, 2019 $ (104,066 ) $ (15,405 ) $ (119,471 ) Other comprehensive loss, net of tax (7,156 ) (49 ) (7,205 ) Balance at September 26, 2020 $ (111,222 ) $ (15,454 ) $ (126,676 )

Retirement Plans

Retirement Plans	9 Months Ended
	Sep. 26, 2020
Retirement Benefits [Abstract]
Retirement Plans	12 Retirement Plans The Company sponsors various retirement plans. The components of net periodic benefit cost other than the service cost component are included in other expense in the consolidated statements of operations. The summary of the components of net periodic pension costs for the plans for the three and nine months ended September 26, 2020 and September 28, 2019 is as follows (in thousands): Three Months Ended September 26, 2020 September 28, 2019 U.S. U.S. Retiree Non-U.S. U.S. U.S. Retiree Non-U.S. Pension Healthcare Pension Pension Healthcare Pension Plans Plan Plans Plans Plan Plans Service cost $ — $ 197 $ 1,140 $ — $ 124 $ 1,081 Interest cost — 180 353 — 194 426 Expected return on plan assets — (214 ) (476 ) — (177 ) (535 ) Net amortization: Prior service credit — (4 ) (41 ) — (5 ) (38 ) Net actuarial loss — — 397 — — 132 Net periodic pension cost $ — $ 159 $ 1,373 $ — $ 136 $ 1,066 Nine Months Ended September 26, 2020 September 28, 2019 U.S. U.S. Retiree Non-U.S. U.S. U.S. Retiree Non-U.S. Pension Healthcare Pension Pension Healthcare Pension Plans Plan Plans Plans Plan Plans Service cost $ — $ 499 $ 3,334 $ — $ 374 $ 3,238 Interest cost — 533 1,036 23 583 1,291 Expected return on plan assets — (653 ) (1,386 ) — (531 ) (1,616 ) Net amortization: Prior service credit — (14 ) (122 ) — (15 ) (113 ) Net actuarial loss — — 1,164 — — 399 Net periodic pension cost $ — $ 365 $ 4,026 $ 23 $ 411 $ 3,199 In 2019, the Company completed the termination of the Waters Retirement Restoration Plan. During fiscal year 2020, the Company expects to contribute a total of approximately $3 million to $6 million to the Company’s defined benefit plans.

Business Segment Information

Business Segment Information	9 Months Ended
	Sep. 26, 2020
Segment Reporting [Abstract]
Business Segment Information	13 Business Segment Information The Company’s business activities, for which discrete financial information is available, are regularly reviewed and evaluated by the chief operating decision maker. As a result of this evaluation, the Company determined that it has two operating segments: Waters TM TM The Waters operating segment is primarily in the business of designing, manufacturing, selling and servicing LC and MS instruments, columns and other precision chemistry consumables that can be integrated and used along with other analytical instruments. The TA operating segment is primarily in the business of designing, manufacturing, selling and servicing thermal analysis, rheometry and calorimetry instruments. The Company’s two operating segments have similar economic characteristics; product processes; products and services; types and classes of customers; methods of distribution; and regulatory environments. Because of these similarities, the two segments have been aggregated into one reporting segment for financial statement purposes. Please refer to the consolidated financial statements for financial information regarding the one reportable segment of the Company. Net sales for the Company’s products and services are as follows for the three and nine months ended September 26, 2020 and September 28, 2019 (in thousands): Three Months Ended Nine Months Ended September 26, September 28, September 26, September 28, Product net sales: Waters instrument systems $ 225,790 $ 223,859 $ 550,018 $ 647,248 Chemistry consumables 108,175 100,256 300,525 299,801 TA instrument systems 42,274 46,458 114,799 131,292 Total product sales 376,239 370,573 965,342 1,078,341 Service net sales: Waters service 199,501 188,031 562,843 556,128 TA service 18,044 18,674 50,522 55,833 Total service sales 217,545 206,705 613,365 611,961 Total net sales $ 593,784 $ 577,278 $ 1,578,707 $ 1,690,302 Net sales are attributable to geographic areas based on the region of destination. Geographic sales information is presented below for the three and nine months ended September 26, 2020 and September 28, 2019 (in thousands): Three Months Ended Nine Months Ended September 26, September 28, September 26, September 28, Net Sales: Asia: China $ 115,666 $ 111,657 $ 252,713 $ 314,544 Japan 44,779 46,840 131,098 136,302 Asia Other 75,737 79,278 219,660 226,276 Total Asia 236,182 237,775 603,471 677,122 Americas: United States 172,267 164,164 465,093 487,261 Americas Other 27,180 32,294 81,312 97,840 Total Americas 199,447 196,458 546,405 585,101 Europe 158,155 143,045 428,831 428,079 Total net sales $ 593,784 $ 577,278 $ 1,578,707 $ 1,690,302 Net sales by customer class are as follows for the three and nine months ended September 26, 2020 and September 28, 2019 (in thousands): Three Months Ended Nine Months Ended September 26, September 28, September 26, September 28, Pharmaceutical $ 343,001 $ 328,227 $ 926,582 $ 972,884 Industrial 179,128 171,352 474,592 502,679 Academic and governmental 71,655 77,699 177,533 214,739 Total net sales $ 593,784 $ 577,278 $ 1,578,707 $ 1,690,302 Net sales for the Company recognized at a point in time versus over time are as follows for the three and nine months ended September 26, 2020 and September 28, 2019 (in thousands): Three Months Ended Nine Months Ended September 26, September 28, September 26, September 28, Net sales recognized at a point in time: Instrument systems $ 268,064 $ 270,317 $ 664,817 $ 778,540 Chemistry consumables 108,175 100,256 300,525 299,801 Service sales recognized at a point in time (time & materials) 92,145 75,240 238,754 232,806 Total net sales recognized at a point in time 468,384 445,813 1,204,096 1,311,147 Net sales recognized over time: Service and software maintenance sales recognized over time (contracts) 125,400 131,465 374,611 379,155 Total net sales $ 593,784 $ 577,278 $ 1,578,707 $ 1,690,302

Recent Accounting Standard Chan

Recent Accounting Standard Changes and Developments	9 Months Ended
	Sep. 26, 2020
Accounting Changes and Error Corrections [Abstract]
Recent Accounting Standard Changes and Developments	14 Recent Accounting Standard Changes and Developments Recently Adopted Accounting Standards In June 2016, accounting guidance was issued that modifies the recognition of credit losses related to financial assets, such as debt securities, trade receivables, net investments in leases, off-balance available-for-sale. available-for-sale non-credit off-balance In January 2017, accounting guidance was issued that simplifies the accounting for goodwill impairment. The guidance eliminates step 2 of the goodwill impairment test, which requires a hypothetical purchase price allocation. This guidance is effective for annual and interim periods beginning after December 15, 2019. The Company adopted this standard on January 1, 2020. The adoption of this standard did not have a material effect on the Company’s financial position, results of operations and cash flows. In August 2018, accounting guidance was issued that modifies the disclosure requirements of fair value measurements. The amendments remove disclosures that are no longer considered cost beneficial, clarify the specific requirements of disclosure and add disclosure requirements identified as relevant. This guidance is effective for annual and interim periods beginning after December 15, 2019. The Company adopted this standard on January 1, 2020. The adoption of this standard did not have a material impact on the Company’s financial position, results of operations and cash flows. Recently Issued Accounting Standards In August 2018, accounting guidance was issued that modifies the disclosure requirements of retirement benefit plans. The amendments remove disclosures that are no longer considered cost beneficial, clarify the specific requirements of disclosure and add disclosure requirement identified as relevant. This guidance is effective for annual and interim periods beginning after December 15, 2020 and early adoption is permitted. The Company does not expect that the adoption of this standard will have a material impact on the Company’s financial position, results of operations and cash flows. In December 2019, accounting guidance was issued that simplifies the accounting for income taxes by removing certain exceptions within the current guidance, including the approach for intraperiod tax allocation, the methodology for calculating income taxes in an interim period and the recognition of deferred tax liabilities for outside basis differences. The amendment also improves consistent application by clarifying and amending existing guidance related to aspects of the accounting for franchise taxes and enacted changes in tax laws or rates and clarifies the accounting for transactions that result in a step up in the tax basis of goodwill. This guidance is effective for annual and interim periods beginning after December 15, 2020 and early adoption is permitted. The Company does not expect that the adoption of this standard will have a material impact on the Company’s financial position, results of operations and cash flows. In January 2020, accounting guidance was issued that clarifies the accounting guidance for equity method investments, joint ventures, and derivatives and hedging. The update clarifies the interaction between different sections of the accounting guidance that could be applicable and helps clarify which guidance should be applied in certain situations which should increase relevance and comparability of financial statement information. This guidance is effective for annual and interim periods beginning after December 15, 2020 and early adoption is permitted. The Company does not expect that the adoption of this standard will have a material impact on the Company’s financial position, results of operations and cash flows. In March 2020, accounting guidance was issued that facilitates the effects of reference rate reform on financial reporting. The amendments in the update provide optional guidance for a limited period of time to ease the potential burden in accounting for or recognizing the effects of reference rate reform on financial reporting and apply to all entities, subject to meeting certain criteria, that have contracts, hedging relationships, and other transactions that reference LIBOR or another reference rate expected to be discontinued because of reference rate reform. This temporary guidance is effective for all entities as of March 12, 2020 through December 31, 2022. The Company may elect to apply this guidance for all contract modifications or eligible hedging relationships during that time period subject to certain criteria. The Company is still evaluating the impact of reference rate reform and whether this guidance will be adopted. In March 2020, the U.S. federal government enacted the Coronavirus Aid, Relief and Economic Security Act (the “CARES Act”). The CARES Act is an emergency economic stimulus package in response to the COVID-19

Basis of Presentation and Sum_2

Basis of Presentation and Summary of Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 26, 2020
Accounting Policies [Abstract]
Fiscal Period	The Company’s interim fiscal quarter typically ends on the thirteenth Saturday of each quarter. Since the Company’s fiscal year end is December 31, the first and fourth fiscal quarters may have more or less than thirteen complete weeks. The Company’s third fiscal quarters for 2020 and 2019 ended on September 26, 2020 and September 28, 2019, respectively.
Basis of Accounting	The accompanying unaudited interim consolidated financial statements have been prepared in accordance with the instructions to the Quarterly Report on Form 10-Q The preparation of consolidated financial statements in conformity with U.S. GAAP requires the Company to make estimates and judgments that affect the reported amounts of assets, liabilities, revenues and expenses, and related disclosure of contingent liabilities at the dates of the financial statements. Actual amounts may differ from these estimates under different assumptions or conditions. It is management’s opinion that the accompanying interim consolidated financial statements reflect all adjustments (which are normal and recurring) that are necessary for a fair statement of the results for the interim periods. The interim consolidated financial statements should be read in conjunction with the consolidated financial statements included in the Company’s Annual Report on Form 10-K
Principles of Consolidation	The consolidated financial statements include the accounts of the Company and its subsidiaries, which are wholly owned. All inter-company balances and transactions have been eliminated.
Use of Estimates	The preparation of consolidated financial statements in conformity with U.S. GAAP requires the Company to make estimates and judgments that affect the reported amounts of assets, liabilities, revenues and expenses, and related disclosure of contingent liabilities at the dates of the financial statements. Actual amounts may differ from these estimates under different assumptions or conditions.
Risks and Uncertainties	Risks and Uncertainties The Company is subject to risks common to companies in the analytical instrument industry, including, but not limited to, global economic and financial market conditions, fluctuations in foreign currency exchange rates, fluctuations in customer demand, development by its competitors of new technological innovations, costs of developing new technologies, levels of debt and debt service requirements, risk of disruption, dependence on key personnel, protection and litigation of proprietary technology, shifts in taxable income between tax jurisdictions and compliance with regulations of the U.S. Food and Drug Administration and similar foreign regulatory authorities and agencies. Both the Company’s domestic and international operations have been and continue to be adversely affected by the ongoing global pandemic of a novel strain of coronavirus (“COVID-19”) COVID-19 Trump announced a National Emergency relating to the disease. Since then, COVID-19 COVID-19 It is unclear whether increases in the number of infections will continue and amplify as certain areas of the economy are re-opened COVID-19 COVID-19 In the nine months ended September 26, 2020 as compared to the nine months ended September 28, 2019, the Company experienced a decline in net sales of 7% due in large part to the COVID-19 interim
Translation of Foreign Currencies	Translation of Foreign Currencies The functional currency of each of the Company’s foreign operating subsidiaries is the local currency of its country of domicile, except for the Company’s subsidiaries in Hong Kong, Singapore and the Cayman Islands, where the underlying transactional cash flows are denominated in currencies other than the respective local currency of domicile. The functional currency of the Hong Kong, Singapore and Cayman Islands subsidiaries is the U.S. dollar, based on the respective entity’s cash flows. For most of the Company’s foreign operations, assets and liabilities are translated into U.S. dollars at exchange rates prevailing on the balance sheet date, while revenues and expenses are translated at average exchange rates prevailing during the respective period. Any resulting translation gains or losses are included in accumulated other comprehensive income in the consolidated balance sheets.
Cash, Cash Equivalents and Investments	Cash, Cash Equivalents and Investments Cash equivalents represent highly liquid investments, with original maturities of 90 days or less, while investments with longer maturities are classified as investments. The Company maintains cash balances in various operating accounts in excess of federally insured limits, and in foreign subsidiary accounts in currencies other than the U.S. dollar. As of September 26, 2020 and December 31, 2019, $359 million out of $397 million and $249 million out of $337 million, respectively, of the Company’s total cash, cash equivalents and investments were held by foreign subsidiaries. In addition, $262 million out of $397 million and $176 million out of $337 million of cash, cash equivalents and investments were held in currencies other than the U.S. dollar at September 26, 2020 and December 31, 2019, respectively.
Accounts Receivable and Allowance for Credit Losses	Accounts Receivable and Allowance for Credit Losses The Company adopted new accounting guidance regarding the accounting for credit losses as of January 1, 2020 using a modified retrospective transition approach that was applied to the trade receivable balance as of January 1, 2020. This new accounting guidance required the Company to move from an incurred loss model to a current expected credit loss (“CECL”) model. Upon adoption, the Company recorded a net decrease of approximately $1 million to the Company’s stockholders’ deficit as of January 1, 2020. The adoption of this standard did not have a material impact on the Company’s balance sheets, results of operations or cash flows. Trade accounts receivable are recorded at the invoiced amount and do not bear interest. The Company has very limited use of rebates and other cash considerations payable to customers and, as a result, the transaction price determination does not have any material variable consideration. The Company does not consider there to be significant concentrations of credit risk with respect to trade receivables due to the short-term nature of the balances, the Company having a large and diverse customer base, and the Company having a strong historical experience of collecting receivables with minimal defaults. As a result, credit risk is considered low across territories and trade receivables are considered to be a single class of financial asset. The allowance for credit losses is based on a number of factors and is calculated by applying a historical loss rate to trade receivable aging balances to estimate a general reserve balance along with an additional adjustment for any specific receivables with known or anticipated issues affecting the likelihood of recovery. Past due balances with a probability of default based on historical data as well as relevant available forward-looking information are included in the specific adjustment. The historical loss rate is reviewed on at least an annual basis and the allowance for credit losses is reviewed quarterly for any required adjustments. The Company does not have any off-balance sheet credit exposure related to its customers. Trade receivables related to instrument sales are collateralized by the instrument that is sold. If there is a risk of default related to a receivable that is collateralized, then the fair value of the collateral is calculated and adjusted for the cost to re-possess, re-sell Any recovery of amounts that were written off prior to adoption of the new CECL standard that are received after adoption are recorded in income in the period in which they are received. The following is a summary of the activity of the Company’s allowance for doubtful accounts for the Balance at Impact of Additions Deduction Balance at Allowance for Doubtful Accounts September 26, 2020 $ 9,560 $ 985 $ 7,826 $ (5,784 ) $ 12,587 September 28, 2019 $ 7,663 $ — $ 6,014 $ (5,461 ) $ 8,216
Income Taxes	The Company accounts for its uncertain tax return reporting positions in accordance with the accounting standards for income taxes, which require financial statement reporting of the expected future tax consequences of uncertain tax reporting positions on the presumption that all concerned tax authorities possess full knowledge of those tax reporting positions, as well as all of the pertinent facts and circumstances, but prohibit any discounting of unrecognized tax benefits associated with those reporting positions for the time value of money. The Company continues to classify interest and penalties related to unrecognized tax benefits as a component of the provision for income taxes.
Other Investments	Other Investments During the nine months ended September 26, 2020 and September 28, 2019, the Company made investments in unaffiliated companies of $4 million and $7 million, respectively. During the nine months ended September 26, 2020, the Company recorded an unrealized loss on an equity security still held at the reporting date of approximately $1 million within other expense on the income statement. This unrealized loss was recorded as a downward price adjustment to the carrying value of the investment due to an observable price change of a similar security issued during the current period.
Fair Value Measurements	Fair Value Measurements In accordance with the accounting standards for fair value measurements and disclosures, certain of the Company’s assets and liabilities are measured at fair value on a recurring basis as of September 26, 2020 and December 31, 2019. Fair values determined by Level 1 inputs utilize observable data, such as quoted prices in active markets. Fair values determined by Level 2 inputs utilize data points other than quoted prices in active markets that are observable either directly or indirectly. Fair values determined by Level 3 inputs utilize unobservable data points for which there is little or no market data, which require the reporting entity to develop its own assumptions. The following table represents the Company’s assets and liabilities measured at fair value on a recurring basis at September 26, 2020 (in thousands): Total at Quoted Prices Significant Significant Assets: Time deposits $ 22,136 $ — $ 22,136 $ — Waters 401(k) Restoration Plan assets 34,466 34,466 — — Foreign currency exchange contracts 832 — 832 — Total $ 57,434 $ 34,466 $ 22,968 $ — Liabilities: Contingent consideration $ 2,903 $ — $ — $ 2,903 Foreign currency exchange contracts 390 — 390 — Interest rate cross-currency swap agreements 15,190 — 15,190 — Total $ 18,483 $ — $ 15,580 $ 2,903 The following table represents the Company’s assets and liabilities measured at fair value on a recurring basis at December 31, 2019 (in thousands): Total at Quoted Prices Significant Significant Assets: Time deposits $ 1,642 $ — $ 1,642 $ — Waters 401(k) Restoration Plan assets 30,158 30,158 — — Foreign currency exchange contracts 16 — 16 — Interest rate cross-currency swap agreements 4,485 4,485 Total $ 36,301 $ 30,158 $ 6,143 $ — Liabilities: Contingent consideration $ 2,557 $ — $ — $ 2,557 Foreign currency exchange contracts 1,028 — 1,028 — Total $ 3,585 $ — $ 1,028 $ 2,557 Fair Value of 401(k) Restoration Plan Assets The 401(k) Restoration Plan is a nonqualified defined contribution plan and the assets were held in registered mutual funds and have been classified as Level 1. The fair values of the assets in the plan are determined through market and observable sources from daily quoted prices on nationally recognized securities exchanges. Fair Value of Cash Equivalents, Investments, Foreign Currency Exchange Contracts and Interest Rate Cross-Currency Swap Agreements The fair values of the Company’s cash equivalents, investments and foreign currency exchange contracts are determined through market and observable sources and have been classified as Level 2. These assets and liabilities have been initially valued at the transaction price and subsequently valued, typically utilizing third-party pricing services. The pricing services use many inputs to determine value, including reportable trades, benchmark yields, credit spreads, broker/dealer quotes, current spot rates and other industry and economic events. The Company validates the prices provided by third-party pricing services by reviewing their pricing methods and obtaining market values from other pricing sources. Fair Value of Contingent Consideration The fair value of the Company’s liability for contingent consideration relates to earnout payments in connection with the July 2014 acquisition of Medimass Research, Development and Service Kft. and is determined using a probability-weighted discounted cash flow model, which uses significant unobservable inputs, and has been classified as Level 3. Subsequent changes in the fair value of the contingent consideration liability are recorded in the results of operations. The fair value of the contingent consideration liability associated with future earnout payments is based on several factors, including the estimated future results and a discount rate that reflects both the likelihood of achieving the estimated future results and the Company’s creditworthiness. A change in any of these unobservable inputs can significantly change the fair value of the contingent consideration. Although there is no contractual limit, the fair value of future contingent consideration payments was estimated to be $3 million at both September 26, 2020 and December 31, 2019, based on the Company’s best estimate, as the earnout is based on future sales of certain products, some of which are currently in development, through 2034. Fair Value of Other Financial Instruments The Company’s accounts receivable, accounts payable and variable interest rate debt are recorded at cost, which approximates fair value due to their short-term nature. The carrying value of the Company’s fixed interest rate debt was $910 million and $1.0 billion at September 26, 2020 and December 31, 2019, respectively. The fair value of the Company’s fixed interest rate debt was estimated using discounted cash flow models, based on estimated current rates offered for similar debt under current market conditions for the Company. The fair value of the Company’s fixed interest rate debt was estimated to be $938 million and $1.0 billion at September 26, 2020 and December 31, 2019, respectively, using Level 2 inputs.
Derivative Transactions	Derivative Transactions The Company is a global company that operates in over 35 countries and, as a result, the Company’s net sales, cost of sales, operating expenses and balance sheet amounts are significantly impacted by fluctuations in foreign currency exchange rates. The Company is exposed to currency price risk on foreign currency exchange rate fluctuations when it translates its non-U.S. The Company’s principal strategies in managing exposures to changes in foreign currency exchange rates are to (1) naturally hedge the foreign-currency-denominated liabilities on the Company’s balance sheet against corresponding assets of the same currency, such that any changes in liabilities due to fluctuations in foreign currency exchange rates are typically offset by corresponding changes in assets and (2) mitigate foreign exchange risk exposure of international operations by hedging the variability in the movement of foreign currency exchange rates on a portion of its Euro-denominated net asset investments. The Company presents the derivative transactions in financing activities in the statement of cash flows. Foreign Currency Exchange Contracts The Company does not specifically enter into any derivatives that hedge foreign-currency-denominated operating assets, liabilities or commitments on its balance sheet, other than a portion of certain third-party accounts receivable and accounts payable, and the Company’s net worldwide intercompany receivables and payables, which are eliminated in consolidation. The Company periodically aggregates its net worldwide balances by currency and then enters into foreign currency exchange contracts that mature within 90 days to hedge a portion of the remaining balance to minimize some of the Company’s currency price risk exposure. The foreign currency exchange contracts are not designated for hedge accounting treatment. Principal hedged currencies include the Euro, Japanese yen, British pound, Mexican peso and Brazilian real. Interest Rate Cross-Currency Swap Agreements As of September 26, 2020, the Company had entered into three-year The Company’s foreign currency exchange contracts and interest rate cross-currency swap agreements included in the consolidated balance sheets are classified as follows (in thousands): September 26, 2020 December 31, 2019 Notional Fair Notional Fair Foreign currency exchange contracts: Other current assets $ 57,380 $ 832 $ 119,576 $ 16 Other current liabilities $ 65,536 $ 390 $ 29,495 $ 1,028 Interest rate cross-currency swap agreements: Other (liabilities) assets $ 560,000 $ (15,190 ) $ 560,000 $ 4,485 Accumulated other comprehensive loss (income) $ 15,190 $ (4,485 ) The following is a summary of the activity included in the statements of comprehensive income related to the foreign currency exchange contracts (in thousands): Financial Statement Classification Three Months Ended Nine Months Ended September 26, September 28, September 26, September 28, Foreign currency exchange contracts: Realized gains (losses) on closed contracts Cost of sales $ 1,113 $ (3,340 ) $ (45 ) $ (5,858 ) Unrealized gains (losses) on open contracts Cost of sales 808 (633 ) 1,455 (1,040 ) Cumulative net pre-tax Cost of sales $ 1,921 $ (3,973 ) $ 1,410 $ (6,898 ) Interest rate cross-currency swap agreements: Interest earned Interest income $ 3,777 $ 2,698 $ 11,275 $ 7,848 Unrealized gains on open contracts Stockholders’ deficit $ 19,582 $ 15,847 $ 19,675 $ 15,852
Stockholders' Equity	Stockholders’ Equity In January 2019, the Company’s Board of Directors authorized outstanding two pre-existing COVID-19 The Company had $20 million of treasury stock purchases that were accrued and unsettled at December 31, 2019. These transactions were settled in January 2020. There were no unsettled treasury stock purchases as of September 26, 2020, while the Company had accrued $18 million for such purchases as of September 28, 2019, which settled in the subsequent quarter.​​​​​​​
Product Warranty Costs	Product Warranty Costs The Company accrues estimated product warranty costs at the time of sale, which are included in cost of sales in the consolidated statements of operations. While the Company engages in extensive product quality programs and processes, including actively monitoring and evaluating the quality of its component suppliers, the Company’s warranty obligation is affected by product failure rates, material usage and service delivery costs incurred in correcting a product failure. The amount of the accrued warranty liability is based on historical information, such as past experience, product failure rates, number of units repaired and estimated costs of material and labor. The liability is reviewed for reasonableness at least quarterly. The following is a summary of the activity of the Company’s accrued warranty liability for the nine months ended September 26, 2020 and September 28, 2019 (in thousands): Balance at Beginning of Period Accruals for Warranties Settlements Made Balance at End of Period Accrued warranty liability: September 26, 2020 $ 11,964 $ 5,442 $ (7,145 ) $ 10,261 September 28, 2019 $ 12,300 $ 5,271 $ (6,094 ) $ 11,477
Restructuring	Restructuring In January 2020, the Company made organizational changes to better align its resources with its growth and innovation strategies, resulting in a worldwide workforce reduction, impacting 3% of the Company’s employees. During the three and nine months ended September 26, 2020, the Company incurred $6 million and $27 million, respectively, of severance-related costs, lease termination costs and other related costs. The Company expects to incur an additional $4 million of costs for the remainder of the year.
Stock-Based Compensation	The Company accounts for stock-based compensation costs in accordance with the accounting standards for stock-based compensation, which require that all share-based payments to employees be recognized in the statements of operations, based on their grant date fair values. The Company recognizes the expense using the straight-line attribution method. The stock-based compensation expense recognized in the consolidated statements of operations is based on awards that ultimately are expected to vest; therefore, the amount of expense has been reduced for estimated forfeitures. Forfeitures are estimated based on historical experience. If actual results differ significantly from these estimates, stock-based compensation expense and the Company’s results of operations could be materially impacted. In addition, if the Company employs different assumptions in the application of these standards, the compensation expense that the Company records in the future periods may differ significantly from what the Company has recorded in the current period.In determining the fair value of the stock options, the Company makes a variety of assumptions and estimates, including volatility measures, expected yields and expected stock option lives. The fair value of each option grant was estimated on the date of grant using the Black-Scholes option pricing model. The Company uses implied volatility on its publicly-traded options as the basis for its estimate of expected volatility. The Company believes that implied volatility is the most appropriate indicator of expected volatility because it is generally reflective of historical volatility and expectations of how future volatility will differ from historical volatility. The expected life assumption for grants is based on historical experience for the population of non-qualified
Earnings Per Share	The effect of dilutive securities was calculated using the treasury stock method.
Retirement Plans	The Company sponsors various retirement plans. The components of net periodic benefit cost other than the service cost component are included in other expense in the consolidated statements of operations.
New Accounting Pronouncements	Recently Adopted Accounting Standards In June 2016, accounting guidance was issued that modifies the recognition of credit losses related to financial assets, such as debt securities, trade receivables, net investments in leases, off-balance available-for-sale. available-for-sale non-credit off-balance In January 2017, accounting guidance was issued that simplifies the accounting for goodwill impairment. The guidance eliminates step 2 of the goodwill impairment test, which requires a hypothetical purchase price allocation. This guidance is effective for annual and interim periods beginning after December 15, 2019. The Company adopted this standard on January 1, 2020. The adoption of this standard did not have a material effect on the Company’s financial position, results of operations and cash flows. In August 2018, accounting guidance was issued that modifies the disclosure requirements of fair value measurements. The amendments remove disclosures that are no longer considered cost beneficial, clarify the specific requirements of disclosure and add disclosure requirements identified as relevant. This guidance is effective for annual and interim periods beginning after December 15, 2019. The Company adopted this standard on January 1, 2020. The adoption of this standard did not have a material impact on the Company’s financial position, results of operations and cash flows. Recently Issued Accounting Standards In August 2018, accounting guidance was issued that modifies the disclosure requirements of retirement benefit plans. The amendments remove disclosures that are no longer considered cost beneficial, clarify the specific requirements of disclosure and add disclosure requirement identified as relevant. This guidance is effective for annual and interim periods beginning after December 15, 2020 and early adoption is permitted. The Company does not expect that the adoption of this standard will have a material impact on the Company’s financial position, results of operations and cash flows. In December 2019, accounting guidance was issued that simplifies the accounting for income taxes by removing certain exceptions within the current guidance, including the approach for intraperiod tax allocation, the methodology for calculating income taxes in an interim period and the recognition of deferred tax liabilities for outside basis differences. The amendment also improves consistent application by clarifying and amending existing guidance related to aspects of the accounting for franchise taxes and enacted changes in tax laws or rates and clarifies the accounting for transactions that result in a step up in the tax basis of goodwill. This guidance is effective for annual and interim periods beginning after December 15, 2020 and early adoption is permitted. The Company does not expect that the adoption of this standard will have a material impact on the Company’s financial position, results of operations and cash flows. In January 2020, accounting guidance was issued that clarifies the accounting guidance for equity method investments, joint ventures, and derivatives and hedging. The update clarifies the interaction between different sections of the accounting guidance that could be applicable and helps clarify which guidance should be applied in certain situations which should increase relevance and comparability of financial statement information. This guidance is effective for annual and interim periods beginning after December 15, 2020 and early adoption is permitted. The Company does not expect that the adoption of this standard will have a material impact on the Company’s financial position, results of operations and cash flows. In March 2020, accounting guidance was issued that facilitates the effects of reference rate reform on financial reporting. The amendments in the update provide optional guidance for a limited period of time to ease the potential burden in accounting for or recognizing the effects of reference rate reform on financial reporting and apply to all entities, subject to meeting certain criteria, that have contracts, hedging relationships, and other transactions that reference LIBOR or another reference rate expected to be discontinued because of reference rate reform. This temporary guidance is effective for all entities as of March 12, 2020 through December 31, 2022. The Company may elect to apply this guidance for all contract modifications or eligible hedging relationships during that time period subject to certain criteria. The Company is still evaluating the impact of reference rate reform and whether this guidance will be adopted. In March 2020, the U.S. federal government enacted the Coronavirus Aid, Relief and Economic Security Act (the “CARES Act”). The CARES Act is an emergency economic stimulus package in response to the COVID-19
Revenue Recognition	The Company’s deferred revenue liabilities on the consolidated balance sheets consist of the obligation on instrument service contracts and customer payments received in advance, prior to transfer of control of the instrument. The Company records deferred revenue primarily related to its service contracts, where consideration is billable at the beginning of the service period. The following is a summary of the activity of the Company’s deferred revenue and customer advances for the nine months ended September 26, 2020 and September 28, 2019 (in thousands): September 26, September 28, Balance at the beginning of the period $ 213,695 $ 204,257 Recognition of revenue included in balance at beginning of the period (177,667 ) (174,929 ) Revenue deferred during the period, net of revenue recognized 213,895 206,093 Balance at the end of the period $ 249,923 $ 235,421 The Company classified $39 million and $38 million of deferred revenue and customer advances in other long-term liabilities at September 26, 2020 and December 31, 2019, respectively. The amount of deferred revenue and customer advances equals the transaction price allocated to unfulfilled performance obligations for the period presented. Such amounts are expected to be recognized in the future as follows (in thousands): September 26, 2020 Deferred revenue and customer advances expected to be recognized in: One $ 211,348 13-24 months 22,452 25 16,123 Total $ 249,923

Basis of Presentation and Sum_3

Basis of Presentation and Summary of Significant Accounting Policies (Tables)	9 Months Ended
	Sep. 26, 2020
Accounting Policies [Abstract]
Summary of Activity of Company's Allowance for Doubtful Accounts	The following is a summary of the activity of the Company’s allowance for doubtful accounts for the Balance at Impact of Additions Deduction Balance at Allowance for Doubtful Accounts September 26, 2020 $ 9,560 $ 985 $ 7,826 $ (5,784 ) $ 12,587 September 28, 2019 $ 7,663 $ — $ 6,014 $ (5,461 ) $ 8,216
Summary of Assets and Liabilities Measured at Fair Value on Recurring Basis	The following table represents the Company’s assets and liabilities measured at fair value on a recurring basis at September 26, 2020 (in thousands): Total at Quoted Prices Significant Significant Assets: Time deposits $ 22,136 $ — $ 22,136 $ — Waters 401(k) Restoration Plan assets 34,466 34,466 — — Foreign currency exchange contracts 832 — 832 — Total $ 57,434 $ 34,466 $ 22,968 $ — Liabilities: Contingent consideration $ 2,903 $ — $ — $ 2,903 Foreign currency exchange contracts 390 — 390 — Interest rate cross-currency swap agreements 15,190 — 15,190 — Total $ 18,483 $ — $ 15,580 $ 2,903 The following table represents the Company’s assets and liabilities measured at fair value on a recurring basis at December 31, 2019 (in thousands): Total at Quoted Prices Significant Significant Assets: Time deposits $ 1,642 $ — $ 1,642 $ — Waters 401(k) Restoration Plan assets 30,158 30,158 — — Foreign currency exchange contracts 16 — 16 — Interest rate cross-currency swap agreements 4,485 4,485 Total $ 36,301 $ 30,158 $ 6,143 $ — Liabilities: Contingent consideration $ 2,557 $ — $ — $ 2,557 Foreign currency exchange contracts 1,028 — 1,028 — Total $ 3,585 $ — $ 1,028 $ 2,557
Summary of Foreign Currency Exchange Contracts and Interest Rate Cross-Currency Swap Agreements	The Company’s foreign currency exchange contracts and interest rate cross-currency swap agreements included in the consolidated balance sheets are classified as follows (in thousands): September 26, 2020 December 31, 2019 Notional Fair Notional Fair Foreign currency exchange contracts: Other current assets $ 57,380 $ 832 $ 119,576 $ 16 Other current liabilities $ 65,536 $ 390 $ 29,495 $ 1,028 Interest rate cross-currency swap agreements: Other (liabilities) assets $ 560,000 $ (15,190 ) $ 560,000 $ 4,485 Accumulated other comprehensive loss (income) $ 15,190 $ (4,485 )
Gains (Losses) on Foreign Exchange Contracts	The following is a summary of the activity included in the statements of comprehensive income related to the foreign currency exchange contracts (in thousands): Financial Statement Classification Three Months Ended Nine Months Ended September 26, September 28, September 26, September 28, Foreign currency exchange contracts: Realized gains (losses) on closed contracts Cost of sales $ 1,113 $ (3,340 ) $ (45 ) $ (5,858 ) Unrealized gains (losses) on open contracts Cost of sales 808 (633 ) 1,455 (1,040 ) Cumulative net pre-tax Cost of sales $ 1,921 $ (3,973 ) $ 1,410 $ (6,898 ) Interest rate cross-currency swap agreements: Interest earned Interest income $ 3,777 $ 2,698 $ 11,275 $ 7,848 Unrealized gains on open contracts Stockholders’ deficit $ 19,582 $ 15,847 $ 19,675 $ 15,852
Summary of Activity of Company's Accrued Warranty Liability	The following is a summary of the activity of the Company’s accrued warranty liability for the nine months ended September 26, 2020 and September 28, 2019 (in thousands): Balance at Beginning of Period Accruals for Warranties Settlements Made Balance at End of Period Accrued warranty liability: September 26, 2020 $ 11,964 $ 5,442 $ (7,145 ) $ 10,261 September 28, 2019 $ 12,300 $ 5,271 $ (6,094 ) $ 11,477

Revenue Recognition (Tables)

Revenue Recognition (Tables)	9 Months Ended
	Sep. 26, 2020
Revenue from Contract with Customer [Abstract]
Summary of Activity of Deferred Revenue and Customer Advances	The following is a summary of the activity of the Company’s deferred revenue and customer advances for the nine months ended September 26, 2020 and September 28, 2019 (in thousands): September 26, September 28, Balance at the beginning of the period $ 213,695 $ 204,257 Recognition of revenue included in balance at beginning of the period (177,667 ) (174,929 ) Revenue deferred during the period, net of revenue recognized 213,895 206,093 Balance at the end of the period $ 249,923 $ 235,421
Schedule of Amount of Deferred Revenue and Customer Advances	The amount of deferred revenue and customer advances equals the transaction price allocated to unfulfilled performance obligations for the period presented. Such amounts are expected to be recognized in the future as follows (in thousands): September 26, 2020 Deferred revenue and customer advances expected to be recognized in: One $ 211,348 13-24 months 22,452 25 16,123 Total $ 249,923

Marketable Securities (Tables)

Marketable Securities (Tables)	9 Months Ended
	Sep. 26, 2020
Investments, Debt and Equity Securities [Abstract]
Schedule of Available-for-Sale Securities Reconciliation	The Company’s marketable securities within cash equivalents and investments included in the consolidated balance sheets are detailed as follows (in thousands): September 26, 2020 Amortized Cost Unrealized Gain Unrealized Loss Fair Value Time deposits 22,136 — — 22,136 Total $ 22,136 $ — $ — $ 22,136 Amounts included in: Investments 22,136 — — 22,136 Total $ 22,136 $ — $ — $ 22,136 December 31, 2019 Amortized Cost Unrealized Gain Unrealized Loss Fair Value Time deposits 1,642 — — 1,642 Total $ 1,642 $ — $ — $ 1,642 Amounts included in: Cash equivalents $ 213 $ — $ — $ 213 Investments 1,429 — — 1,429 Total $ 1,642 $ — $ — $ 1,642
Investments Classified By Contractual Maturity Date	The estimated fair value of marketable debt securities by maturity date is as follows (in thousands): September 26, 2020 December 31, 2019 Due in one year or less $ 22,136 $ 1,642 Total $ 22,136 $ 1,642

Inventories (Tables)

Inventories (Tables)	9 Months Ended
	Sep. 26, 2020
Inventory Disclosure [Abstract]
Inventory, Net of Reserves	Inventories are classified as follows (in thousands): September 26, 2020 December 31, 2019 Raw materials $ 134,527 $ 126,850 Work in progress 20,183 15,457 Finished goods 172,236 178,244 Total inventories $ 326,946 $ 320,551

Acquisitions (Tables)

Acquisitions (Tables)	9 Months Ended
	Sep. 26, 2020
Business Combination, Recognized Identifiable Assets Acquired, Goodwill, and Liabilities Assumed, Less Noncontrolling Interest [Abstract]
Summary of business combination assets acquired liabilities assumed	The following table presents the fair values as of the acquisition date, as determined by the Company, of 100% of the assets and liabilities owned and recorded in connection with the acquisition of Andrew Alliance (in thousands): Cash $ 713 Accounts receivable and current other assets 806 Inventory 669 Prepaid and other assets 611 Property, plant and equipment, net 757 Operating lease assets 847 Intangible assets 6,960 Goodwill 71,632 Total assets acquired 82,995 Accrued expenses and other liabilities 2,093 Total consideration 80,902 Fair value of minority investment 3,525 Cash consideration paid $ 77,377

Goodwill and Other Intangibles

Goodwill and Other Intangibles (Tables)	9 Months Ended
	Sep. 26, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Intangible Assets	The Company’s intangible assets included in the consolidated balance sheets are detailed as follows (dollars in thousands): September 26, 2020 December 31, 2019 Gross Accumulated Weighted- Gross Accumulated Weighted- Capitalized software $ 542,127 $ 378,999 5 years $ 481,986 $ 333,255 5 years Purchased intangibles 209,877 159,747 11 years 200,523 151,722 11 years Trademarks and IPR&D 13,702 — — 13,782 — — Licenses 5,600 5,345 6 years 5,669 5,298 6 years Patents and other intangibles 86,972 59,019 8 years 83,035 54,517 8 years Total $ 858,278 $ 603,110 7 years $ 784,995 $ 544,792 7 years

Debt (Tables)

Debt (Tables)	9 Months Ended
	Sep. 26, 2020
Debt Disclosure [Abstract]
Summary of Outstanding Debt	The Company had the following outstanding debt at September 26, 2020 and December 31, 2019 (in thousands): September 26, 2020 December 31, 2019 Foreign subsidiary lines of credit $ — $ 366 Senior unsecured notes – Series B – 5.00%, due February 2020 — 100,000 Senior unsecured notes – Series E – 3.97%, due March 2021 50,000 — Senior unsecured notes – Series F – 3.40%, due June 2021 100,000 — Total notes payable and debt, current 150,000 100,366 Senior unsecured notes – Series E – 3.97%, due March 2021 — 50,000 Senior unsecured notes – Series F – 3.40%, due June 2021 — 100,000 Senior unsecured notes – Series G – 3.92%, due June 2024 50,000 50,000 Senior unsecured notes – Series H – floating rate*, due June 2024 50,000 50,000 Senior unsecured notes – Series I – 3.13%, due May 2023 50,000 50,000 Senior unsecured notes – Series K – 3.44%, due May 2026 160,000 160,000 Senior unsecured notes – Series L – 3.31%, due September 2026 200,000 200,000 Senior unsecured notes – Series M – 3.53%, due September 2029 300,000 300,000 Credit agreement 615,000 625,000 Unamortized debt issuance costs (3,663 ) (4,203 ) Total long-term debt 1,421,337 1,580,797 Total debt $ 1,571,337 $ 1,681,163

Income Taxes (Tables)

Income Taxes (Tables)	9 Months Ended
	Sep. 26, 2020
Income Tax Disclosure [Abstract]
Unrecognized Tax Benefits	The following is a summary of the activity of the Company’s gross unrecognized tax benefits, excluding interest and penalties, for the nine months ended September 26, 2020 and September 28, 2019 (in thousands): September 26, 2020 September 28, 2019 Balance at the beginning of the period $ 27,790 $ 26,108 Net reductions for lapse of statutes taken during the period (427 ) (173 ) Net additions for tax positions taken during the current period 907 1,314 Balance at the end of the period $ 28,270 $ 27,249

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	9 Months Ended
	Sep. 26, 2020
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Schedule of Stock-Based Compensation Expense	Three Months Ended Nine Months Ended September 26, September 28, September 26, September 28, Cost of sales $ 645 $ 531 $ 1,850 $ 1,673 Selling and administrative expenses 7,747 7,766 22,472 23,293 Research and development expenses 1,201 1,365 3,393 3,951 Total stock-based compensation $ 9,593 $ 9,662 $ 27,715 $ 28,917
Relevant Data Used to Determine the Value of Stock Options Granted During the Period	The relevant data used to determine the value of the stock options granted during the nine months ended September 26, 2020 and September 28, 2019 are as follows: Nine Months Ended Options Issued and Significant Assumptions Used to Estimate Option Fair Values September 26, September 28, Options issued in thousands 267 139 Risk-free interest rate 1.2 % 2.5 % Expected life in years 6 5 Expected volatility 27.8 % 24.3 % Expected dividends — —
Stock Options Outstanding Roll Forward	Nine Months Ended Weighted-Average Exercise Price and Fair Value of Options on the Date of Grant September 26, September 28, Exercise price $ 215.12 $ 231.30 Fair value $ 62.93 $ 61.85
Stock Options Outstanding by Exercise Price Range	The following table summarizes stock option activity for the plans for the nine months ended September 26, 2020 (in thousands, except per share data): Number of Shares Exercise Price per Share Weighted-Average Outstanding at December 31, 2019 1,455 $ 61.63 to $ 238.52 $ 158.61 Granted 267 $ 188.63 to $ 235.06 $ 215.12 Exercised (184 ) $ 61.63 to $ 208.47 $ 124.58 Canceled (150 ) $ 128.93 to $ 238.52 $ 176.27 Outstanding at September 26, 2020 1,388 $ 75.94 to $ 238.52 $ 172.08
Restricted Stock Units Unvested Roll Forward	The following table summarizes the unvested restricted stock unit award activity for the nine months ended September 26, 2020 (in thousands, except per share data): Shares Weighted - Grant Date Fair Unvested at December 31, 2019 260 $ 184.70 Granted 119 $ 206.99 Vested (87 ) $ 162.12 Forfeited (18 ) $ 187.90 Unvested at September 26, 2020 274 $ 201.34 Restricted stock units are generally granted annually in February and vest in equal annual installments over a five-year
Relevant Data Used to Determine the Value of Performance Shares	The relevant data used to determine the value of the performance stock units granted during the nine months ended September 26, 2020 and September 28, 2019 are as follows: Nine Months Ended Performance Stock Units Issued and Significant Assumptions Used to Estimate Fair September 26, September 28, Performance stock units issued (in thousands) 58 13 Risk-free interest rate 1.3 % 2.4 % Expected life in years 2.9 2.8 Expected volatility 25.1 % 23.5 % Average volatility of peer companies 26.1 % 26.2 % Correlation coefficient 36.6 % 34.2 % Expected dividends — —
Performance Stock Units Unvested Roll Forward	The following table summarizes the unvested performance stock unit award activity for the nine months ended September 26, 2020 (in thousands, except per share data): Shares Weighted-Average Unvested at December 31, 2019 105 $ 233.11 Granted 58 $ 190.45 Vested (36 ) $ 184.51 Forfeited (25 ) $ 231.35 Unvested at September 26, 2020 102 $ 226.44

Earnings Per Share (Tables)

Earnings Per Share (Tables)	9 Months Ended
	Sep. 26, 2020
Earnings Per Share [Abstract]
Earnings Per Share Reconciliation	Basic and diluted EPS calculations are detailed as follows (in thousands, except per share data): Three Months Ended September 26, 2020 Net Income Weighted- Per Share (Numerator) (Denominator) Amount Net income per basic common share $ 126,769 62,002 $ 2.04 Effect of dilutive stock option, restricted stock, performance stock unit and restricted stock unit securities — 301 (0.01 ) Net income per diluted common share $ 126,769 62,303 $ 2.03 Three Months Ended September 28, 2019 Net Income Weighted- Per Share (Numerator) (Denominator) Amount Net income per basic common share $ 138,133 66,226 $ 2.09 Effect of dilutive stock option, restricted stock, performance stock unit and restricted stock unit securities — 542 (0.02 ) Net income per diluted common share $ 138,133 66,768 $ 2.07 Nine Months Ended September 26, 2020 Net Income Weighted- Per Share (Numerator) (Denominator) Amount Net income per basic common share $ 303,260 62,057 $ 4.89 Effect of dilutive stock option, restricted stock, performance stock unit and restricted stock unit securities — 314 (0.03 ) Net income per diluted common share $ 303,260 62,371 $ 4.86 Nine Months Ended September 28, 2019 Net Income Weighted- Per Share (Numerator) (Denominator) Amount Net income per basic common share $ 391,529 68,952 $ 5.68 Effect of dilutive stock option, restricted stock, performance stock unit and restricted stock unit securities — 581 (0.05 ) Net income per diluted common share $ 391,529 69,533 $ 5.63

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Income (Tables)	9 Months Ended
	Sep. 26, 2020
Equity [Abstract]
Schedule of Accumulated Other Comprehensive Income	The components of accumulated other comprehensive Currency Translation Unrealized Accumulated Other Balance at December 31, 2019 $ (104,066 ) $ (15,405 ) $ (119,471 ) Other comprehensive loss, net of tax (7,156 ) (49 ) (7,205 ) Balance at September 26, 2020 $ (111,222 ) $ (15,454 ) $ (126,676 )

Retirement Plans (Tables)

Retirement Plans (Tables)	9 Months Ended
	Sep. 26, 2020
Retirement Benefits [Abstract]
Defined Benefit Plan, Net Periodic Benefit Cost	The summary of the components of net periodic pension costs for the plans for the three and nine months ended September 26, 2020 and September 28, 2019 is as follows (in thousands): Three Months Ended September 26, 2020 September 28, 2019 U.S. U.S. Retiree Non-U.S. U.S. U.S. Retiree Non-U.S. Pension Healthcare Pension Pension Healthcare Pension Plans Plan Plans Plans Plan Plans Service cost $ — $ 197 $ 1,140 $ — $ 124 $ 1,081 Interest cost — 180 353 — 194 426 Expected return on plan assets — (214 ) (476 ) — (177 ) (535 ) Net amortization: Prior service credit — (4 ) (41 ) — (5 ) (38 ) Net actuarial loss — — 397 — — 132 Net periodic pension cost $ — $ 159 $ 1,373 $ — $ 136 $ 1,066 Nine Months Ended September 26, 2020 September 28, 2019 U.S. U.S. Retiree Non-U.S. U.S. U.S. Retiree Non-U.S. Pension Healthcare Pension Pension Healthcare Pension Plans Plan Plans Plans Plan Plans Service cost $ — $ 499 $ 3,334 $ — $ 374 $ 3,238 Interest cost — 533 1,036 23 583 1,291 Expected return on plan assets — (653 ) (1,386 ) — (531 ) (1,616 ) Net amortization: Prior service credit — (14 ) (122 ) — (15 ) (113 ) Net actuarial loss — — 1,164 — — 399 Net periodic pension cost $ — $ 365 $ 4,026 $ 23 $ 411 $ 3,199

Business Segment Information (T

Business Segment Information (Tables)	9 Months Ended
	Sep. 26, 2020
Segment Reporting [Abstract]
Summary of Net Sales for Company's Products and Services	Three Months Ended Nine Months Ended September 26, September 28, September 26, September 28, Product net sales: Waters instrument systems $ 225,790 $ 223,859 $ 550,018 $ 647,248 Chemistry consumables 108,175 100,256 300,525 299,801 TA instrument systems 42,274 46,458 114,799 131,292 Total product sales 376,239 370,573 965,342 1,078,341 Service net sales: Waters service 199,501 188,031 562,843 556,128 TA service 18,044 18,674 50,522 55,833 Total service sales 217,545 206,705 613,365 611,961 Total net sales $ 593,784 $ 577,278 $ 1,578,707 $ 1,690,302
Summary of Geographic Sales Information	Three Months Ended Nine Months Ended September 26, September 28, September 26, September 28, Net Sales: Asia: China $ 115,666 $ 111,657 $ 252,713 $ 314,544 Japan 44,779 46,840 131,098 136,302 Asia Other 75,737 79,278 219,660 226,276 Total Asia 236,182 237,775 603,471 677,122 Americas: United States 172,267 164,164 465,093 487,261 Americas Other 27,180 32,294 81,312 97,840 Total Americas 199,447 196,458 546,405 585,101 Europe 158,155 143,045 428,831 428,079 Total net sales $ 593,784 $ 577,278 $ 1,578,707 $ 1,690,302
Summary of Net Sales by Customer Class	Three Months Ended Nine Months Ended September 26, September 28, September 26, September 28, Pharmaceutical $ 343,001 $ 328,227 $ 926,582 $ 972,884 Industrial 179,128 171,352 474,592 502,679 Academic and governmental 71,655 77,699 177,533 214,739 Total net sales $ 593,784 $ 577,278 $ 1,578,707 $ 1,690,302
Summary of Net Sales of Company Recognized at a Point in Time Versus Over Time	Three Months Ended Nine Months Ended September 26, September 28, September 26, September 28, Net sales recognized at a point in time: Instrument systems $ 268,064 $ 270,317 $ 664,817 $ 778,540 Chemistry consumables 108,175 100,256 300,525 299,801 Service sales recognized at a point in time (time & materials) 92,145 75,240 238,754 232,806 Total net sales recognized at a point in time 468,384 445,813 1,204,096 1,311,147 Net sales recognized over time: Service and software maintenance sales recognized over time (contracts) 125,400 131,465 374,611 379,155 Total net sales $ 593,784 $ 577,278 $ 1,578,707 $ 1,690,302

Basis of Presentation and Sum_4

Basis of Presentation and Summary of Significant Accounting Policies - Additional Information (Detail) - USD ($) shares in Millions	1 Months Ended	3 Months Ended		9 Months Ended		12 Months Ended
	Jan. 31, 2020	Sep. 26, 2020	Sep. 28, 2019	Sep. 26, 2020	Sep. 28, 2019	Dec. 31, 2020	Jan. 01, 2020	Dec. 31, 2019	Jan. 31, 2019
Basis of Presentation and Summary of Significant Accounting Policies [Line Items]
Cash equivalents description				Cash equivalents represent highly liquid investments, with original maturities of 90 days or less, while investments with longer maturities are classified as investments.
Cash, cash equivalents and investments		$ 397,000,000		$ 397,000,000				$ 337,000,000
Investments in unaffiliated companies				4,000,000	$ 7,000,000
Contingent consideration		2,903,000		2,903,000				2,557,000
Long-term debt		1,421,337,000		$ 1,421,337,000				1,580,797,000
Foreign currency exposure				The Company is a global company that operates in over 35 countries and, as a result, the Company’s net sales, cost of sales, operating expenses and balance sheet amounts are significantly impacted by fluctuations in foreign currency exchange rates.
Maturity period of foreign exchange contracts				The Company periodically aggregates its net worldwide balances by currency and then enters into foreign currency exchange contracts that mature within 90 days to hedge a portion of the remaining balance to minimize some of the Company’s currency price risk exposure. The foreign currency exchange contracts are not designated for hedge accounting treatment.
Treasury stock		56,000	$ 588,207,000	$ 176,352,000	$ 1,904,711,000
Decrease in Stockholders Equity		6,889,678,000		$ 6,889,678,000				6,587,403,000
Decrease in Revenue				7.00%
Unrealized loss on an equity security				$ 1,000,000
Revision of Prior Period, Accounting Standards Update, Adjustment [Member]
Basis of Presentation and Summary of Significant Accounting Policies [Line Items]
Decrease in Stockholders Equity							$ 1,000,000
Employee Severance [Member]
Basis of Presentation and Summary of Significant Accounting Policies [Line Items]
Employees Increase (Decrease), Percentage	3.00%
Severance Lease, Termination and Other Related Costs [Member]
Basis of Presentation and Summary of Significant Accounting Policies [Line Items]
Restructuring and related cost, incurred		6,000,000		27,000,000
Restructuring and related cost, expects remaining of the year	$ 4,000,000
Cross Currency Interest Rate Contract [Member]
Basis of Presentation and Summary of Significant Accounting Policies [Line Items]
Notional value, derivative asset		560,000,000		$ 560,000,000
Cross Currency Interest Rate Contract [Member] | Forecast [Member]
Basis of Presentation and Summary of Significant Accounting Policies [Line Items]
Term of derivative agreement						3 years
Fair Value, Measurements, Recurring [Member]
Basis of Presentation and Summary of Significant Accounting Policies [Line Items]
Contingent consideration								3,000,000
Programs Authorized by Board of Directors [Member]
Basis of Presentation and Summary of Significant Accounting Policies [Line Items]
Treasury stock shares acquired				0.8	8.6
Treasury stock				$ 167,000,000	$ 1,900,000,000
Related to Vesting of Restricted Stock Units [Member]
Basis of Presentation and Summary of Significant Accounting Policies [Line Items]
Treasury stock				$ 10,000,000	8,000,000
January 2019 Program [Member]
Basis of Presentation and Summary of Significant Accounting Policies [Line Items]
Stock repurchase program authorization amount									$ 4,000,000,000
Stock repurchase program period	2 years
Treasury stock shares acquired				11.1
Treasury stock				$ 2,500,000,000
Stock repurchase program remaining amount authorized for future purchases		1,500,000,000		1,500,000,000
Treasury Stock [Member]
Basis of Presentation and Summary of Significant Accounting Policies [Line Items]
Accrued treasury stock repurchases		0	$ 18,000,000	0	$ 18,000,000			20,000,000
Held In Currencies Other Than Us Dollars [Member]
Basis of Presentation and Summary of Significant Accounting Policies [Line Items]
Cash, cash equivalents and investments		262,000,000		262,000,000				176,000,000
Unsecured Debt [Member]
Basis of Presentation and Summary of Significant Accounting Policies [Line Items]
Long-term debt		960,000,000		960,000,000				1,100,000,000
Unsecured Debt [Member] | Fixed Interest Rate [Member]
Basis of Presentation and Summary of Significant Accounting Policies [Line Items]
Long-term debt		910,000,000		910,000,000				1,000,000,000
Fair value of fixed interest rate debt		938,000,000		938,000,000				1,000,000,000
Significant Unobservable Inputs (Level 3) [Member] | Fair Value, Measurements, Recurring [Member]
Basis of Presentation and Summary of Significant Accounting Policies [Line Items]
Contingent consideration		2,903,000		2,903,000				2,557,000
Held By Foreign Subsidiaries [Member]
Basis of Presentation and Summary of Significant Accounting Policies [Line Items]
Cash, cash equivalents and investments		$ 359,000,000		$ 359,000,000				$ 249,000,000

Basis of Presentation and Sum_5

Basis of Presentation and Summary of Significant Accounting Policies - Allowance for Doubtful Accounts Roll Forward (Detail) - USD ($) $ in Thousands	9 Months Ended
	Sep. 26, 2020	Sep. 28, 2019
Allowance for Doubtful Accounts Receivable [Roll Forward]
Beginning balance	$ 9,560	$ 7,663
Impact of CECL Adoption	985
Additions	7,826	6,014
Deduction	(5,784)	(5,461)
Ending balance	$ 12,587	$ 8,216

Basis of Presentation and Sum_6

Basis of Presentation and Summary of Significant Accounting Policies - Summary of Assets and Liabilities Measured at Fair Value on Recurring Basis (Detail) - USD ($) $ in Thousands	Sep. 26, 2020	Dec. 31, 2019
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available for sale securities	$ 22,136	$ 1,642
Waters 401(k) Restoration Plan assets	34,466	30,158
Total	57,434	36,301
Contingent consideration	2,903	2,557
Total	18,483	3,585
Foreign Currency Exchange Contract [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value, derivative asset	832	16
Foreign currency exchange contracts	390	1,028
Cross Currency Interest Rate Contract [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value, derivative asset		4,485
Foreign currency exchange contracts	15,190
Time Deposits [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available for sale securities	22,136	1,642
Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Contingent consideration		3,000
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Waters 401(k) Restoration Plan assets	34,466	30,158
Total	34,466	30,158
Fair Value, Measurements, Recurring [Member] | Significant Unobservable Inputs (Level 2) [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total	22,968	6,143
Total	15,580	1,028
Fair Value, Measurements, Recurring [Member] | Significant Unobservable Inputs (Level 2) [Member] | Foreign Currency Exchange Contract [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value, derivative asset	832	16
Foreign currency exchange contracts	390	1,028
Fair Value, Measurements, Recurring [Member] | Significant Unobservable Inputs (Level 2) [Member] | Cross Currency Interest Rate Contract [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value, derivative asset		4,485
Foreign currency exchange contracts	15,190
Fair Value, Measurements, Recurring [Member] | Significant Unobservable Inputs (Level 2) [Member] | Time Deposits [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available for sale securities	22,136	1,642
Fair Value, Measurements, Recurring [Member] | Significant Unobservable Inputs (Level 3) [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Contingent consideration	2,903	2,557
Total	$ 2,903	$ 2,557

Basis of Presentation and Sum_7

Basis of Presentation and Summary of Significant Accounting Policies - Fair Value of Forward Foreign Exchange Contracts (Detail) - USD ($)	Sep. 26, 2020	Dec. 31, 2019
Foreign Currency Exchange Contract [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value, derivative asset	$ 832,000	$ 16,000
Fair value, derivative liability	390,000	1,028,000
Cross Currency Interest Rate Contract [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Notional value, derivative asset	560,000,000
Fair value, derivative asset		4,485,000
Fair value, derivative liability	15,190,000
Other Current Assets [Member] | Foreign Currency Exchange Contract [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Notional value, derivative asset	57,380,000	119,576,000
Fair value, derivative asset	832,000	16,000
Other Current Liabilities [Member] | Foreign Currency Exchange Contract [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Notional value, derivative liability	65,536,000	29,495,000
Fair value, derivative liability	390,000	1,028,000
Other (Liabilities) Assets [Member] | Cross Currency Interest Rate Contract [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Notional value, derivative asset	560,000,000	560,000,000
Fair value, derivative asset		4,485,000
Fair value, derivative liability	(15,190,000)
Accumulated Other Comprehensive Loss (Income) [Member] | Cross Currency Interest Rate Contract [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value, derivative asset	$ 15,190,000	$ (4,485,000)

Basis of Presentation and Sum_8

Basis of Presentation and Summary of Significant Accounting Policies - Gains (Losses) on Foreign Exchange Contracts (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 26, 2020	Sep. 28, 2019	Sep. 26, 2020	Sep. 28, 2019
Cost of Sales [Member] | Foreign Currency Exchange Contract [Member]
Derivative [Line Items]
Realized gains (losses) on closed contracts	$ 1,113	$ (3,340)	$ (45)	$ (5,858)
Unrealized gains (losses) on open contracts	808	(633)	1,455	(1,040)
Cumulative net pre-tax gains (losses)	1,921	(3,973)	1,410	(6,898)
Interest Income [Member] | Cross Currency Interest Rate Contract [Member]
Derivative [Line Items]
Interest earned	3,777	2,698	11,275	7,848
Stockholders' (Deficit) Equity [Member] | Cross Currency Interest Rate Contract [Member]
Derivative [Line Items]
Unrealized gains (losses) on open contracts	$ 19,582	$ 15,847	$ 19,675	$ 15,852

Basis of Presentation and Sum_9

Basis of Presentation and Summary of Significant Accounting Policies - Summary of Activity of Company's Accrued Warranty Liability (Detail) - USD ($) $ in Thousands	9 Months Ended
	Sep. 26, 2020	Sep. 28, 2019
Movement in Standard Product Warranty Accrual [Roll Forward]
Balance at Beginning of Period	$ 11,964	$ 12,300
Accruals for Warranties	5,442	5,271
Settlements Made	(7,145)	(6,094)
Balance at End of Period	$ 10,261	$ 11,477

Revenue Recognition - Additiona

Revenue Recognition - Additional Information (Detail) - USD ($) $ in Millions	Sep. 26, 2020	Dec. 31, 2019
Other Long-Term Liabilities [Member]
Revenue Recognition [Line Items]
Deferred revenue and customer advances	$ 39	$ 38

Revenue Recognition - Summary o

Revenue Recognition - Summary of Activity of the Company's Deferred Revenue and Customer Advances (Detail) - USD ($) $ in Thousands	9 Months Ended
	Sep. 26, 2020	Sep. 28, 2019
Revenue Recognition and Deferred Revenue [Abstract]
Balance at the beginning of the period	$ 213,695	$ 204,257
Recognition of revenue included in balance at beginning of the period	(177,667)	(174,929)
Revenue deferred during the period, net of revenue recognized	213,895	206,093
Balance at the end of the period	$ 249,923	$ 235,421

Revenue Recognition - Schedule

Revenue Recognition - Schedule of Estimated Amount of Deferred Revenue and Customer Advances (Detail) - USD ($) $ in Thousands	Sep. 26, 2020	Dec. 31, 2019
Revenue Recognition [Line Items]
Deferred revenue and customer advances expected to be recognized	$ 211,348	$ 176,360
Deferred revenue and customer advances expected to be recognized	249,923
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-01-01
Revenue Recognition [Line Items]
Deferred revenue and customer advances expected to be recognized	$ 22,452
Deferred revenue and customer advances recognition period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-01-01
Revenue Recognition [Line Items]
Deferred revenue and customer advances expected to be recognized	$ 16,123
Deferred revenue and customer advances recognition period	2 years

Marketable Securities - Schedul

Marketable Securities - Schedule of Available-for-Sale Securities Reconciliation (Detail) - USD ($) $ in Thousands	Sep. 26, 2020	Dec. 31, 2019
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	$ 22,136	$ 1,642
Fair Value	22,136	1,642
Time Deposits [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	22,136	1,642
Fair Value	22,136	1,642
Cash Equivalents [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost		213
Fair Value		213
Short-term Investments [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	22,136	1,429
Fair Value	$ 22,136	$ 1,429

Marketable Securities - Investm

Marketable Securities - Investments Classified By Contractual Maturity Date (Detail) - USD ($) $ in Thousands	Sep. 26, 2020	Dec. 31, 2019
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, Fair Value [Abstract]
Due in one year or less	$ 22,136	$ 1,642
Total	$ 22,136	$ 1,642

Inventories - Inventory, Net of

Inventories - Inventory, Net of Reserves (Detail) - USD ($) $ in Thousands	Sep. 26, 2020	Dec. 31, 2019
Inventory, Net, Items Net of Reserve Alternative [Abstract]
Raw materials	$ 134,527	$ 126,850
Work in progress	20,183	15,457
Finished goods	172,236	178,244
Total inventories	$ 326,946	$ 320,551

Acquisitions - Additional Infor

Acquisitions - Additional Information (Detail) - USD ($) $ in Thousands	Jan. 15, 2020	Sep. 26, 2020	Dec. 31, 2019
Business Acquisition [Line Items]
Intangible assets acquired		7 years	7 years
Business acquisition, goodwill, not deductible for tax purposes	$ 72,000	$ 431,078	$ 356,128
Developed technology trade name and customer relationships [member]
Business Acquisition [Line Items]
Intangible assets acquired	$ 7,000
Developed technology and customer list [member]
Business Acquisition [Line Items]
Intangible assets acquired	10 years
Trade names [member]
Business Acquisition [Line Items]
Intangible assets acquired	3 years
Andrew Alliance [Member]
Business Acquisition [Line Items]
Aggregate consideration paid for acquird entity	$ 80,000
Business combination equity interest issued or issuable	4,000
Business acquisition, goodwill, not deductible for tax purposes	$ 71,632

Acquisitions - Summary of busi

Acquisitions - Summary of business combination assets acquired liabilities assumed (Detail) - USD ($) $ in Thousands	Jan. 15, 2020	Sep. 26, 2020	Dec. 31, 2019
Disclosure of business combination assets acquired liabilities assumed [line items]
Goodwill	$ 72,000	$ 431,078	$ 356,128
Andrew Alliance [Member]
Disclosure of business combination assets acquired liabilities assumed [line items]
Cash	713
Accounts receivable and current other assets	806
Inventory	669
Prepaid and other assets	611
Property, plant and equipment, net	757
Operating lease assets	847
Intangible assets	6,960
Goodwill	71,632
Total assets acquired	82,995
Accrued expenses and other liabilities	2,093
Total consideration	80,902
Fair value of minority investment	3,525
Cash consideration paid	$ 77,377

Goodwill and Other Intangible_2

Goodwill and Other Intangibles - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 26, 2020	Sep. 28, 2019	Sep. 26, 2020	Sep. 28, 2019	Jan. 15, 2020	Dec. 31, 2019
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill	$ 431,078		$ 431,078		$ 72,000	$ 356,128
Goodwill foreign currency translation adjustments			3,000
Intangible assets, gross foreign currency translation adjustments			25,000
Intangible assets, accumulated amortization foreign currency translation adjustments			17,000
Amortization expense	15,000	$ 13,000	42,000	$ 38,000
Future amortization expense, year 1	55,000		55,000
Future amortization expense, year 2	55,000		55,000
Future amortization expense, year 3	55,000		55,000
Future amortization expense, year 4	55,000		55,000
Future amortization expense, year 5	$ 55,000		55,000
Goodwill acquired			$ 72,000

Goodwill and Other Intangible_3

Goodwill and Other Intangibles - Schedule of Intangible Assets (Detail) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 26, 2020	Dec. 31, 2019
Finite Lived and Indefinite Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 858,278	$ 784,995
Accumulated Amortization	$ 603,110	$ 544,792
Weighted-Average Amortization Period	7 years	7 years
Trademarks and In Process Research and Development [Member]
Finite Lived and Indefinite Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 13,702	$ 13,782
Software Development [Member]
Finite Lived and Indefinite Lived Intangible Assets [Line Items]
Gross Carrying Amount	542,127	481,986
Accumulated Amortization	$ 378,999	$ 333,255
Weighted-Average Amortization Period	5 years	5 years
Purchased Intangibles [Member]
Finite Lived and Indefinite Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 209,877	$ 200,523
Accumulated Amortization	$ 159,747	$ 151,722
Weighted-Average Amortization Period	11 years	11 years
Licensing Agreements [Member]
Finite Lived and Indefinite Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 5,600	$ 5,669
Accumulated Amortization	$ 5,345	$ 5,298
Weighted-Average Amortization Period	6 years	6 years
Patents and Other Intangibles [Member]
Finite Lived and Indefinite Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 86,972	$ 83,035
Accumulated Amortization	$ 59,019	$ 54,517
Weighted-Average Amortization Period	8 years	8 years

Debt - Additional Information (

Debt - Additional Information (Detail) - USD ($)	1 Months Ended	9 Months Ended	12 Months Ended
	Feb. 28, 2019	Sep. 26, 2020	Dec. 31, 2020	Dec. 31, 2019	Nov. 30, 2017
Debt Instrument [Line Items]
Debt facility fee		The interest rates applicable to the 2017 Credit Agreement are, at the Company’s option, equal to either the alternate base rate (which is a rate per annum equal to the greatest of (1) the prime rate in effect on such day, (2) the Federal Reserve Bank of New York Rate on such day plus 1/2 of 1% per annum and (3) the adjusted LIBO rate on such day (or if such day is not a business day, the immediately preceding business day) for a deposit in U.S. dollars with a maturity of one month plus 1% per annum) or the applicable 1, 2, 3 or 6 month adjusted LIBO rate or EURIBO rate for Euro-denominated loans, in each case, plus an interest rate margin based upon the Company’s leverage ratio, which can range between 0 and 12.5 basis points for alternate base rate loans and between 80 and 112.5 basis points for LIBO rate or EURIBO rate loans. The facility fee on the 2017 Credit Agreement ranges between 7.5 and 25 basis points per annum, based on the leverage ratio, of the amount of the revolving facility commitments and the outstanding
Long-term debt		$ 1,421,337,000		$ 1,580,797,000
Line of credit maximum borrowing capacity		108,000,000		$ 105,000,000
Line of credit interest rate during the period				1.48%
Cross Currency Interest Rate Contract [Member]
Debt Instrument [Line Items]
Notional value, derivative asset		$ 560,000,000
Cross Currency Interest Rate Contract [Member] | Forecast [Member]
Debt Instrument [Line Items]
Derivative instrument, term			3 years
Notes Payable to Banks [Member]
Debt Instrument [Line Items]
Interest rate terms on debt		The interest rates applicable to the 2017 Credit Agreement are, at the Company’s option, equal to either the alternate base rate (which is a rate per annum equal to the greatest of (1) the prime rate in effect on such day, (2) the Federal Reserve Bank of New York Rate on such day plus 1/2 of 1% per annum and (3) the adjusted LIBO rate on such day (or if such day is not a business day, the immediately preceding business day) for a deposit in U.S. dollars with a maturity of one month plus 1% per annum) or the applicable 1, 2, 3 or 6 month adjusted LIBO rate or EURIBO rate for Euro-denominated loans, in each case, plus an interest rate margin based upon the Company’s leverage ratio, which can range between 0 and 12.5 basis points for alternate base rate loans and between 80 and 112.5 basis points for LIBO rate or EURIBO rate loans. The facility fee on the 2017 Credit Agreement ranges between 7.5 and 25 basis points per annum, based on the leverage ratio, of the amount of the revolving facility commitments and the outstanding
Debt covenant description	In February 2019, certain defined terms related to the subsidiary guarantors were amended in the 2017 Credit Agreement and senior unsecured note agreements. In addition, the Company amended the senior unsecured note agreements to allow the Company to elect an increase in the permitted leverage ratio from 3.50:1 to 4.0:1, for a period of three consecutive quarters, for a material acquisition of $400 million or more. During the period of time where the leverage ratio exceeds 3.50:1, the interest payable on the senior unsecured notes shall increase by 0.50%. The debt covenants in the senior unsecured note agreements were also modified to address the change in accounting guidance for leases.	The 2017 Credit Agreement requires that the Company comply with an interest coverage ratio test of not less than 3.50:1 as of the end of any fiscal quarter for any period of four consecutive fiscal quarters and a leverage ratio test of not more than 3.50:1 as of the end of any fiscal quarter. In addition, the 2017 Credit Agreement includes negative covenants, affirmative covenants, representations and warranties and events of default that are customary for investment grade credit facilities.
Unused borrowing capacity		$ 1,200,000,000		$ 1,200,000,000
Unsecured Debt [Member]
Debt Instrument [Line Items]
Debt covenant description		These senior unsecured notes require that the Company comply with an interest coverage ratio test of not less than 3.50:1 for any period of four consecutive fiscal quarters and a leverage ratio test of not more than 3.50:1 as of the end of any fiscal quarter. In addition, these senior unsecured notes include customary negative covenants, affirmative covenants, representations and warranties and events of default.
Long-term debt		$ 960,000,000		$ 1,100,000,000
Call feature on debt instrument		The Company may prepay all or some of the senior unsecured notes at any time in an amount not less than 10% of the aggregate principal amount outstanding, plus the applicable make-whole amount or prepayment premium for the Series H senior unsecured note.
Credit Agreements and Unsecured Debt [Member]
Debt Instrument [Line Items]
Weighted-average interest rate		2.68%		3.39%
Revolving Facilities [Member] | Notes Payable to Banks [Member]
Debt Instrument [Line Items]
Face value of debt					$ 1,500,000,000
Term Loan Facility [Member] | Notes Payable to Banks [Member]
Debt Instrument [Line Items]
Face value of debt					$ 300,000,000
Revolving facility and term loan [Member] | Notes Payable to Banks [Member]
Debt Instrument [Line Items]
Long term debt gross		$ 615,000,000		$ 625,000,000

Debt - Summary of Outstanding D

Debt - Summary of Outstanding Debt (Detail) - USD ($) $ in Thousands		Sep. 26, 2020	Dec. 31, 2019
Debt Instrument [Line Items]
Foreign subsidiary lines of credit			$ 366
Total notes payable and debt, current		$ 150,000	100,366
Unamortized debt issuance costs		(3,663)	(4,203)
Total long-term debt		1,421,337	1,580,797
Total debt		1,571,337	1,681,163
Credit Agreement [Member]
Debt Instrument [Line Items]
Long-term debt		615,000	625,000
Senior Unsecured Notes Series B [Member]
Debt Instrument [Line Items]
Total notes payable and debt, current			100,000
Senior Unsecured Notes Series E [Member]
Debt Instrument [Line Items]
Total notes payable and debt, current		50,000
Long-term debt			50,000
Senior Unsecured Notes Series F [Member]
Debt Instrument [Line Items]
Total notes payable and debt, current		100,000
Long-term debt			100,000
Senior Unsecured Notes Series G [Member]
Debt Instrument [Line Items]
Long-term debt		50,000	50,000
Senior Unsecured Notes Series H [Member]
Debt Instrument [Line Items]
Long-term debt	[1]	50,000	50,000
Senior Unsecured Notes Series I [Member]
Debt Instrument [Line Items]
Long-term debt		50,000	50,000
Senior Unsecured Notes Series K [Member]
Debt Instrument [Line Items]
Long-term debt		160,000	160,000
Senior Unsecured Notes Series L [Member]
Debt Instrument [Line Items]
Long-term debt		200,000	200,000
Senior Unsecured Notes Series M [Member]
Debt Instrument [Line Items]
Long-term debt		$ 300,000	$ 300,000
[1]	Series H senior unsecured notes bear interest at a 3-month LIBOR for that floating rate interest period plus 1.25%.

Debt - Summary of Outstanding_2

Debt - Summary of Outstanding Debt (Parenthetical) (Detail)	9 Months Ended	12 Months Ended
	Sep. 26, 2020	Dec. 31, 2019
Senior Unsecured Notes Series B [Member]
Debt Instrument [Line Items]
Stated interest rate on debt instrument	5.00%	5.00%
Senior Unsecured Notes Series E [Member]
Debt Instrument [Line Items]
Stated interest rate on debt instrument	3.97%	3.97%
Senior Unsecured Notes Series F [Member]
Debt Instrument [Line Items]
Stated interest rate on debt instrument	3.40%	3.40%
Senior Unsecured Notes Series G [Member]
Debt Instrument [Line Items]
Stated interest rate on debt instrument	3.92%	3.92%
Senior Unsecured Notes Series H [Member] | LIBOR [Member]
Debt Instrument [Line Items]
Interest rate terms on debt	Series H senior unsecured notes bear interest at a 3-month LIBOR for that floating rate interest period plus 1.25%.	Series H senior unsecured notes bear interest at a 3-month LIBOR for that floating rate interest period plus 1.25%.
Interest rate margin	1.25%	1.25%
Senior Unsecured Notes Series I [Member]
Debt Instrument [Line Items]
Stated interest rate on debt instrument	3.13%	3.13%
Senior Unsecured Notes Series K [Member]
Debt Instrument [Line Items]
Stated interest rate on debt instrument	3.44%	3.44%
Senior Unsecured Notes Series L [Member]
Debt Instrument [Line Items]
Stated interest rate on debt instrument	3.31%	3.31%
Senior Unsecured Notes Series M [Member]
Debt Instrument [Line Items]
Stated interest rate on debt instrument	3.53%	3.53%

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 26, 2020	Sep. 28, 2019	Sep. 26, 2020	Sep. 28, 2019
Income Taxes [Line Items]
Income tax holiday amount			$ 12	$ 15
Income tax holiday per share benefit			$ 0.20	$ 0.21
Effective income tax rate	15.70%	16.10%	14.30%	13.70%
Increase (Decrease) in effective tax rate percentage points			0.70%	1.50%
Effect of stock-based compensation			$ 3	$ 7
2017 Tax Act				$ 3
Effective tax rate reconciliation restructuring charges			$ 6
Effective tax rate reconciliation restructuring charges, percentage			1.80%
Effective tax rate of stock-based compensation, percentage			0.90%
Maximum [Member]
Income Taxes [Line Items]
Expected change in unrecognized tax benefits in the next twelve months	$ 1		$ 1
United States [Member]
Income Taxes [Line Items]
Statutory tax rate			21.00%
Ireland [Member]
Income Taxes [Line Items]
Statutory tax rate			12.50%
U.K [Member]
Income Taxes [Line Items]
Statutory tax rate			19.00%
Singapore [Member]
Income Taxes [Line Items]
Statutory tax rate			17.00%
Singapore [Member] | Contractual Tax Rate Singapore [Member]
Income Taxes [Line Items]
Marginal effective income tax rate			0.00%

Income Taxes - Unrecognized Tax

Income Taxes - Unrecognized Tax Benefits (Detail) - USD ($) $ in Thousands	9 Months Ended
	Sep. 26, 2020	Sep. 28, 2019
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]
Balance at the beginning of the period	$ 27,790	$ 26,108
Net reductions for lapse of statutes taken during the period	(427)	(173)
Net additions for tax positions taken during the current period	907	1,314
Balance at the end of the period	$ 28,270	$ 27,249

Stock-Based Compensation - Addi

Stock-Based Compensation - Additional Information (Detail) shares in Millions	9 Months Ended
	Sep. 26, 2020$ / sharesshares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period	5 years
Number of shares available for grant | shares	6.5
Performance Stock Unit Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted-average grant date fair value of shares granted	$ 190.45
Performance Stock Unit Plan [Member] | Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting rights	0.00%
Performance Stock Unit Plan [Member] | Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting rights	200.00%
Restricted Stock Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted-average grant date fair value of shares granted	$ 229.67
Equity Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period	5 years
Award expiration period	10 years

Stock-Based Compensation - Sche

Stock-Based Compensation - Schedule of Stock-Based Compensation Expense (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 26, 2020	Sep. 28, 2019	Sep. 26, 2020	Sep. 28, 2019
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total stock-based compensation	$ 9,593	$ 9,662	$ 27,715	$ 28,917
Cost of Sales [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total stock-based compensation	645	531	1,850	1,673
Selling and Administrative Expenses [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total stock-based compensation	7,747	7,766	22,472	23,293
Research and Development Expenses [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total stock-based compensation	$ 1,201	$ 1,365	$ 3,393	$ 3,951

Stock-Based Compensation - Rele

Stock-Based Compensation - Relevant Data Used to Determine the Value of Stock Options Granted During the Period (Detail) - Equity Option [Member] - USD ($) shares in Thousands	9 Months Ended
	Sep. 26, 2020	Sep. 28, 2019
Options Issued and Significant Assumptions Used to Estimate Option Fair Values
Options issued	267	139
Fair value assumptions, risk free interest rate	1.20%	2.50%
Fair value assumptions, expected life in years	6 years	5 years
Fair value assumptions, expected volatility	27.80%	24.30%
Fair value assumptions, expected dividends
Weighted-Average Exercise Price and Fair Value of Options on the Date of Grant
Weighted-average exercise price of options granted	$ 215.12	$ 231.30
Weighted-average grant date fair value of options granted	$ 62.93	$ 61.85

Stock-Based Compensation - Stoc

Stock-Based Compensation - Stock Options Outstanding Roll Forward (Detail) - Equity Option [Member] - $ / shares shares in Thousands	9 Months Ended
	Sep. 26, 2020	Sep. 28, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Outstanding at December 31, 2019	1,455
Granted	267	139
Exercised	(184)
Canceled	(150)
Outstanding at March 28, 2020	1,388
Weighted-average exercise price of options outstanding at beginning of period	$ 158.61
Weighted-average exercise price of options granted	215.12	$ 231.30
Weighted-average exercise price of options exercised	124.58
Weighted average exercise price of options canceled	176.27
Weighted-average exercise price of options outstanding at end of period	172.08
Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted-average exercise price of options outstanding at beginning of period	61.63
Weighted-average exercise price of options granted	188.63
Weighted-average exercise price of options exercised	61.63
Weighted average exercise price of options canceled	128.93
Weighted-average exercise price of options outstanding at end of period	75.94
Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted-average exercise price of options outstanding at beginning of period	238.52
Weighted-average exercise price of options granted	235.06
Weighted-average exercise price of options exercised	208.47
Weighted average exercise price of options canceled	238.52
Weighted-average exercise price of options outstanding at end of period	$ 238.52

Stock-Based Compensation - Rest

Stock-Based Compensation - Restricted Stock Units Unvested Roll Forward (Detail) - Restricted Stock Units (RSUs) [Member] shares in Thousands	9 Months Ended
	Sep. 26, 2020$ / sharesshares
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Unvested Beginning balance, Shares | shares	260
Shares, Granted | shares	119
Shares, Vested | shares	(87)
Shares, Forfeited | shares	(18)
Unvested Ending balance, Shares | shares	274
Weighted-average grant date fair value per share of shares unvested at beginning of period | $ / shares	$ 184.70
Weighted-average grant date fair value per share of shares granted | $ / shares	206.99
Weighted-average grant date fair value per share of shares vested | $ / shares	162.12
Weighted-average grant date fair value of shares forfeited | $ / shares	187.90
Weighted-average grant date fair value per share of shares unvested at end of period | $ / shares	$ 201.34

Stock-Based Compensation - Re_2

Stock-Based Compensation - Relevant Data Used to Determine the Value of Performance Shares (Detail) - Performance Stock Unit Plan [Member] - USD ($) shares in Thousands	9 Months Ended
	Sep. 26, 2020	Sep. 28, 2019
Performance Stock Units Issued and Significant Assumptions Used to Estimate Fair Values
Shares granted	58	13
Fair value assumptions, risk free interest rate	1.30%	2.40%
Fair value assumptions, expected life in years	2 years 10 months 24 days	2 years 9 months 18 days
Fair value assumptions, expected volatility	25.10%	23.50%
Fair value assumptions, expected volatility of peer companies	26.10%	26.20%
Fair value assumptions, correlation coefficient	36.60%	34.20%
Fair value assumptions, expected dividends

Stock-Based Compensation - Perf

Stock-Based Compensation - Performance Stock Units Unvested Roll Forward (Detail) - Performance Stock Unit Plan [Member] - $ / shares shares in Thousands	9 Months Ended
	Sep. 26, 2020	Sep. 28, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unvested Beginning balance, Shares	105
Shares Granted	58	13
Shares Vested	(36)
Shares Forfeited	(25)
Weighted-average grant date fair value per share of shares unvested at end of period	$ 226.44
Weighted-average grant date fair value per share of shares unvested at beginning of period	233.11
Weighted-average grant date fair value per share of shares granted	190.45
Weighted-average grant date fair value per share of shares vested	184.51
Weighted-average grant date fair value per share of shares forfeited	$ 231.35
Unvested Ending balance, Shares	102

Earnings Per Share - Earnings P

Earnings Per Share - Earnings Per Share Reconciliation (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 26, 2020	Sep. 28, 2019	Sep. 26, 2020	Sep. 28, 2019
Earnings Per Share [Abstract]
Net income per basic common share, Net Income (Numerator)	$ 126,769	$ 138,133	$ 303,260	$ 391,529
Net income per diluted common share, Net Income (Numerator)	$ 126,769	$ 138,133	$ 303,260	$ 391,529
Net income per basic common share, Weighted-Average Shares (Denominator)	62,002	66,226	62,057	68,952
Effect of dilutive stock option, restricted stock, performance stock unit and restricted stock unit securities, Weighted-Average Shares (Denominator)	301	542	314	581
Net income per diluted common share, Weighted-Average Shares (Denominator)	62,303	66,768	62,371	69,533
Net income per basic common share, Per Share Amount	$ 2.04	$ 2.09	$ 4.89	$ 5.68
Effect of dilutive stock option, restricted stock, performance stock unit and restricted stock unit securities, Per Share Amount	(0.01)	(0.02)	(0.03)	(0.05)
Net income per diluted common share, Per Share Amount	$ 2.03	$ 2.07	$ 4.86	$ 5.63

Earnings Per Share - Additional

Earnings Per Share - Additional Information (Detail) - shares shares in Millions	3 Months Ended		9 Months Ended
	Sep. 26, 2020	Sep. 28, 2019	Sep. 26, 2020	Sep. 28, 2019
Earnings Per Share [Abstract]
Antidilutive securities excluded from computation of earnings per share	0.4	0.1	0.5	0.1

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Income - Schedule of Accumulated Other Comprehensive Income (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 26, 2020	Sep. 28, 2019	Sep. 26, 2020	Sep. 28, 2019
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance	$ (191,742)	$ 556,245	$ (216,281)	$ 1,567,258
Other comprehensive loss, net of tax	214	(4,485)	(7,205)	(1,610)
Ending balance	(41,581)	$ 115,500	(41,581)	$ 115,500
Currency Translation [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance			(104,066)
Other comprehensive loss, net of tax			(7,156)
Ending balance	(111,222)		(111,222)
Unrealized Loss on Retirement Plans [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance			(15,405)
Other comprehensive loss, net of tax			(49)
Ending balance	(15,454)		(15,454)
Accumulated Other Comprehensive Loss [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance			(119,471)
Other comprehensive loss, net of tax			(7,205)
Ending balance	$ (126,676)		$ (126,676)

Retirement Plans - Additional I

Retirement Plans - Additional Information (Detail) $ in Millions	Sep. 26, 2020USD ($)
Minimum [Member]
Defined Benefit Plan Disclosure [Line Items]
Estimated future employer contributions in current fiscal year	$ 3
Maximum [Member]
Defined Benefit Plan Disclosure [Line Items]
Estimated future employer contributions in current fiscal year	$ 6

Retirement Plans - Defined Bene

Retirement Plans - Defined Benefit Plan, Net Periodic Benefit Cost (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 26, 2020	Sep. 28, 2019	Sep. 26, 2020	Sep. 28, 2019
United States [Member] | Pension Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Interest cost				$ 23
Net periodic pension cost				23
United States [Member] | Retiree Healthcare Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Service cost	$ 197	$ 124	$ 499	374
Interest cost	180	194	533	583
Expected return on plan assets	(214)	(177)	(653)	(531)
Net amortization: Prior service credit	(4)	(5)	(14)	(15)
Net periodic pension cost	159	136	365	411
Non-U.S. Pension Plans [Member] | Pension Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Service cost	1,140	1,081	3,334	3,238
Interest cost	353	426	1,036	1,291
Expected return on plan assets	(476)	(535)	(1,386)	(1,616)
Net amortization: Prior service credit	(41)	(38)	(122)	(113)
Net amortization: Net actuarial loss	397	132	1,164	399
Net periodic pension cost	$ 1,373	$ 1,066	$ 4,026	$ 3,199

Business Segment Information -

Business Segment Information - Additional Information (Detail)	9 Months Ended
	Sep. 26, 2020Segment
Segment Reporting [Abstract]
Number of operating segments	2
Number of reportable segments	1

Business Segment Information _2

Business Segment Information - Summary of Net Sales for Company's Products and Services (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 26, 2020	Sep. 28, 2019	Sep. 26, 2020	Sep. 28, 2019
Disaggregation of Revenue [Line Items]
Total net sales	$ 593,784	$ 577,278	$ 1,578,707	$ 1,690,302
Waters Instrument Systems [Member]
Disaggregation of Revenue [Line Items]
Total net sales	225,790	223,859	550,018	647,248
Chemistry Consumables [Member]
Disaggregation of Revenue [Line Items]
Total net sales	108,175	100,256	300,525	299,801
TA Instrument Systems [Member]
Disaggregation of Revenue [Line Items]
Total net sales	42,274	46,458	114,799	131,292
Product [Member]
Disaggregation of Revenue [Line Items]
Total net sales	376,239	370,573	965,342	1,078,341
Waters Service [Member]
Disaggregation of Revenue [Line Items]
Total net sales	199,501	188,031	562,843	556,128
TA Service [Member]
Disaggregation of Revenue [Line Items]
Total net sales	18,044	18,674	50,522	55,833
Service [Member]
Disaggregation of Revenue [Line Items]
Total net sales	$ 217,545	$ 206,705	$ 613,365	$ 611,961

Business Segment Information _3

Business Segment Information - Summary of Geographic Sales Information (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 26, 2020	Sep. 28, 2019	Sep. 26, 2020	Sep. 28, 2019
Disaggregation of Revenue [Line Items]
Total net sales	$ 593,784	$ 577,278	$ 1,578,707	$ 1,690,302
China [Member]
Disaggregation of Revenue [Line Items]
Total net sales	115,666	111,657	252,713	314,544
Japan [Member]
Disaggregation of Revenue [Line Items]
Total net sales	44,779	46,840	131,098	136,302
Asia Other [Member]
Disaggregation of Revenue [Line Items]
Total net sales	75,737	79,278	219,660	226,276
Total Asia [Member]
Disaggregation of Revenue [Line Items]
Total net sales	236,182	237,775	603,471	677,122
United States [Member]
Disaggregation of Revenue [Line Items]
Total net sales	172,267	164,164	465,093	487,261
Americas Other [Member]
Disaggregation of Revenue [Line Items]
Total net sales	27,180	32,294	81,312	97,840
Total Americas [Member]
Disaggregation of Revenue [Line Items]
Total net sales	199,447	196,458	546,405	585,101
Europe [Member]
Disaggregation of Revenue [Line Items]
Total net sales	$ 158,155	$ 143,045	$ 428,831	$ 428,079

Business Segment Information _4

Business Segment Information - Summary of Net Sales by Customer Class (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 26, 2020	Sep. 28, 2019	Sep. 26, 2020	Sep. 28, 2019
Revenue, Major Customer [Line Items]
Total net sales	$ 593,784	$ 577,278	$ 1,578,707	$ 1,690,302
Pharmaceutical [Member]
Revenue, Major Customer [Line Items]
Total net sales	343,001	328,227	926,582	972,884
Industrial [Member]
Revenue, Major Customer [Line Items]
Total net sales	179,128	171,352	474,592	502,679
Academic and governmental [Member]
Revenue, Major Customer [Line Items]
Total net sales	$ 71,655	$ 77,699	$ 177,533	$ 214,739

Business Segment Information _5

Business Segment Information - Summary of Net Sales of Company Recognized at a Point in Time Versus Over Time (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 26, 2020	Sep. 28, 2019	Sep. 26, 2020	Sep. 28, 2019
Disaggregation of Revenue [Line Items]
Total net sales	$ 593,784	$ 577,278	$ 1,578,707	$ 1,690,302
Chemistry Consumables [Member]
Disaggregation of Revenue [Line Items]
Total net sales	108,175	100,256	300,525	299,801
Service [Member]
Disaggregation of Revenue [Line Items]
Total net sales	217,545	206,705	613,365	611,961
Net Sales Recognized at a Point in Time: [Member]
Disaggregation of Revenue [Line Items]
Total net sales	468,384	445,813	1,204,096	1,311,147
Net Sales Recognized at a Point in Time: [Member] | Instrument Systems [Member]
Disaggregation of Revenue [Line Items]
Total net sales	268,064	270,317	664,817	778,540
Net Sales Recognized at a Point in Time: [Member] | Chemistry Consumables [Member]
Disaggregation of Revenue [Line Items]
Total net sales	108,175	100,256	300,525	299,801
Net Sales Recognized at a Point in Time: [Member] | Service [Member]
Disaggregation of Revenue [Line Items]
Total net sales	92,145	75,240	238,754	232,806
Net Sales Recognized Over Time: [Member] | Service [Member]
Disaggregation of Revenue [Line Items]
Total net sales	$ 125,400	$ 131,465	$ 374,611	$ 379,155

Recent Accounting Standard Ch_2

Recent Accounting Standard Changes and Developments - Additional Information (Detail) - USD ($) $ in Thousands	Sep. 26, 2020	Jun. 27, 2020	Jan. 01, 2020	Dec. 31, 2019	Sep. 28, 2019	Jun. 29, 2019	Dec. 31, 2018
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Stockholders' deficit	$ (41,581)	$ (191,742)		$ (216,281)	$ 115,500	$ 556,245	$ 1,567,258
Cumulative Effect, Period of Adoption, Adjusted Balance [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Stockholders' deficit			$ (1,000)