Waters (WAT) 10-Q 6 May 21 2021 Q1 Quarterly report Financial data

Cover Page

Cover Page - shares	3 Months Ended
	Apr. 03, 2021	Apr. 30, 2021
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q1
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	Apr. 3, 2021
Entity Registrant Name	Waters Corporation
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		61,700,498

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Apr. 03, 2021	Dec. 31, 2020
Current assets:
Cash and cash equivalents	$ 683,783	$ 436,695
Investments	125,986	6,451
Accounts receivable, net	550,677	573,316
Inventories	327,967	304,281
Other current assets	79,510	80,290
Total current assets	1,767,923	1,401,033
Property, plant and equipment, net	513,719	494,003
Intangible assets, net	240,853	258,645
Goodwill	438,139	444,362
Operating lease assets	88,283	93,252
Other assets	162,646	148,625
Total assets	3,211,563	2,839,920
Current liabilities:
Notes payable and debt	100,000	150,000
Accounts payable	81,511	72,212
Accrued employee compensation	35,104	72,166
Deferred revenue and customer advances	280,848	198,240
Current operating lease liabilities	26,908	27,764
Accrued income taxes	82,642	76,558
Accrued warranty	10,705	10,950
Other current liabilities	167,331	197,093
Total current liabilities	785,049	804,983
Long-term liabilities:
Long-term debt	1,603,090	1,206,515
Long-term portion of retirement benefits	72,756	72,620
Long-term income tax liabilities	357,824	357,493
Long-term operating lease liabilities	61,503	68,197
Other long-term liabilities	100,379	97,968
Total long-term liabilities	2,195,552	1,802,793
Total liabilities	2,980,601	2,607,776
Commitments and contingencies (Notes 6, 7 and 11)
Stockholders' equity:
Preferred stock, par value $0.01 per share, 5,000 shares authorized, none issued at April 3, 2021 and December 31, 2020	0
Common stock, par value $0.01 per share, 400,000 shares authorized, 161,859 and 161,666 shares issued, 61,847 and 62,309 shares outstanding at April 3, 2021 and December 31, 2020, respectively	1,619	1,617
Additional paid-in capital	2,054,076	2,029,465
Retained earnings	7,256,116	7,107,989
Treasury stock, at cost, 100,012 and 99,357 shares at April 3, 2021 and December 31, 2020, respectively	(8,969,643)	(8,788,984)
Accumulated other comprehensive loss	(111,206)	(117,943)
Total stockholders' equity	230,962	232,144
Total liabilities and stockholders' equity	$ 3,211,563	$ 2,839,920

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Apr. 03, 2021	Dec. 31, 2020
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	161,859,000	161,666,000
Common stock, shares outstanding	61,847,000	62,309,000
Treasury stock, shares	100,012,000	99,357,000

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Apr. 03, 2021	Mar. 28, 2020
Revenues:
Total net sales	$ 608,545	$ 464,939
Costs and operating expenses:
Costs and operating expenses	95,271
Selling and administrative expenses	143,196	147,735
Research and development expenses	38,092	34,989
Purchased intangibles amortization	1,840	2,625
Litigation provision	0	666
Total costs and operating expenses	437,275	396,659
Operating income	171,270	68,280
Other income (expense),net	9,359	(374)
Interest expense	(10,946)	(14,079)
Interest income	4,101	4,036
Income before income taxes	173,784	57,863
Provision for income taxes	25,657	4,301
Net income	$ 148,127	$ 53,562
Net income per basic common share	$ 2.38	$ 0.86
Weighted-average number of basic common shares	62,260	62,232
Net income per diluted common share	$ 2.37	$ 0.86
Weighted-average number of diluted common shares and equivalents	62,632	62,626
Product [Member]
Revenues:
Total net sales	$ 382,022	$ 274,183
Costs and operating expenses:
Costs and operating expenses	158,876	119,839
Service [Member]
Revenues:
Total net sales	$ 226,523	190,756
Costs and operating expenses:
Costs and operating expenses		$ 90,805

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	3 Months Ended
	Apr. 03, 2021	Mar. 28, 2020
Statement of Comprehensive Income [Abstract]
Net income	$ 148,127	$ 53,562
Other comprehensive income (loss):
Foreign currency translation	5,825	(19,344)
Unrealized losses on investments before income taxes	(10)	0
Unrealized losses on investments, net of tax	(10)	0
Retirement liability adjustment before reclassifications	1,054	296
Amounts reclassified to other income	216	340
Retirement liability adjustment before income taxes	1,270	636
Income tax expense	(348)	(238)
Retirement liability adjustment, net of tax	922	398
Other comprehensive income (loss)	6,737	(18,946)
Comprehensive income	$ 154,864	$ 34,616

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	3 Months Ended
	Apr. 03, 2021	Mar. 28, 2020
Cash flows from operating activities:
Net income	$ 148,127	$ 53,562
Adjustments to reconcile net income to net cash provided by operating activities:
Stock-based compensation	8,305	9,196
Deferred income taxes	2,787	(2,525)
Depreciation	16,343	15,708
Amortization of intangibles	15,013	13,480
Change in operating assets and liabilities:
Decrease in accounts receivable	7,945	54,026
Increase in inventories	(30,544)	(29,399)
Increase in other current assets	(3,080)	(5,036)
(Increase) decrease in other assets	(4,219)	2,745
Decrease in accounts payable and other current liabilities	(29,758)	(15,825)
Increase in deferred revenue and customer advances	89,048	46,465
(Decrease) increase in other liabilities	(1,563)	9,238
Net cash provided by operating activities	218,404	151,635
Cash flows from investing activities:
Additions to property, plant, equipment and software capitalization	(39,503)	(51,130)
Business acquisitions, net of cash acquired	0	(76,664)
Purchases of investments	(122,640)	(3,520)
Maturities and sales of investments	3,139	1,139
Net cash used in investing activities	(159,004)	(130,175)
Cash flows from financing activities:
Proceeds from debt issuances	500,000	315,000
Payments on debt	(150,000)	(100,366)
Payments of debt issuance costs	(3,637)	0
Proceeds from stock plans	16,295	11,743
Purchases of treasury shares	(173,305)	(196,226)
(Payments for) proceeds from derivative contracts	(578)	2,767
Net cash provided by financing activities	188,775	32,918
Effect of exchange rate changes on cash and cash equivalents	(1,087)	(32)
Increase in cash and cash equivalents	247,088	54,346
Cash and cash equivalents at beginning of period	436,695	335,715
Cash and cash equivalents at end of period	$ 683,783	$ 390,061

CONSOLIDATED STATEMENTS OF STOC

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (DEFICIT) - USD ($) shares in Thousands, $ in Thousands	Total	Common Stock [Member]	Additional Paid-In Capital [Member]	Retained Earnings [Member]	Treasury Stock [Member]	Accumulated Other Comprehensive Income (Loss) [Member]
Beginning balance at Dec. 31, 2019	$ (216,281)	$ 1,610	$ 1,926,753	$ 6,587,403	$ (8,612,576)	$ (119,471)
Beginning Balance, shares at Dec. 31, 2019		161,030
Adoption of new accounting pronouncement	(985)			(985)
Net income	53,562			53,562
Other comprehensive income (loss)	(18,946)					(18,946)
Issuance of common stock for Employee Stock Purchase Plan	1,736		1,736
Issuance of common stock for Employee Stock Purchase Plan, shares		9
Issuance of common stock for stock options exercised	10,125	$ 1	10,124
Issuance of common stock for stock options exercised, shares		81
Treasury stock	(176,225)				(176,225)
Stock-based compensation	9,015	$ 2	9,013
Stock-based compensation, shares		133
Ending balance at Mar. 28, 2020	(337,999)	$ 1,613	1,947,626	6,639,980	(8,788,801)	(138,417)
Ending Balance, shares at Mar. 28, 2020		161,253
Beginning balance at Dec. 31, 2020	232,144	$ 1,617	2,029,465	7,107,989	(8,788,984)	(117,943)
Beginning Balance, shares at Dec. 31, 2020		161,666
Net income	148,127			148,127
Other comprehensive income (loss)	6,737					6,737
Issuance of common stock for Employee Stock Purchase Plan	1,855		1,855
Issuance of common stock for Employee Stock Purchase Plan, shares		11
Issuance of common stock for stock options exercised	15,130	$ 1	15,129
Issuance of common stock for stock options exercised, shares		95
Treasury stock	(180,659)				(180,659)
Stock-based compensation	7,628	$ 1	7,627
Stock-based compensation, shares		87
Ending balance at Apr. 03, 2021	$ 230,962	$ 1,619	$ 2,054,076	$ 7,256,116	$ (8,969,643)	$ (111,206)
Ending Balance, shares at Apr. 03, 2021		161,859

Basis of Presentation and Summa

Basis of Presentation and Summary of Significant Accounting Policies	3 Months Ended
	Apr. 03, 2021
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 first fiscal quarters for 2021 and 2020 ended on April 3, 2021 and March 28, 2020, respectively. The accompanying unaudited interim consolidated financial statements have been prepared in accordance with the instructions to the Quarterly Report on Form 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 affected by the ongoing global COVID-19 COVID-19 COVID-19 COVID-19 Through the date of the issuance of these financial statements, the Company’s consolidated financial position, results of operations and cash flows have not been materially impacted and, thus, the Company concluded that no goodwill or long-lived asset impairment analyses were required. Further, there have been no violations of debt covenants. Any prolonged material disruption of the Company’s employees, suppliers, manufacturing, or customers could materially impact its consolidated financial position, results of operations or cash flows. 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 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 April 3, 2021 and December 31, 2020, $317 million out of $810 million and $364 million out of $443 million, respectively, of the Company’s total cash, cash equivalents and investments were held by foreign subsidiaries. In addition, $256 million out of $810 million and $254 million out of $443 million of cash, cash equivalents and investments were held in currencies other than the U.S. dollar at April 3, 2021 and December 31, 2020, respectively. Accounts Receivable and Allowance for Credit Losses 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 The following is a summary of the activity of the Company’s allowance for credit losses for the three months ended April 3, 2021 and March 28, 2020 (in thousands): Balance at of Period Impact of Adoption Additions Deductions Balance at Period Allowance for Credit Losses April 3, 2021 $ 14,381 $ — $ 775 $ (1,561 ) $ 13,595 March 28, 2020 $ 9,560 $ 985 $ 3,506 $ (1,749 ) $ 12,302 Other Investments During the three months ended April 3, 2021, the Company recorded an unrealized gain on an equity security still held at the reporting date of approximately $10 million within other income (expense) on the income statement. This unrealized gain was recorded as an upward 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 April 3, 2021 and December 31, 2020. 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 April 3, 2021 (in thousands): Total at April 3, 2021 Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Assets: U.S. Treasury securities $ 12,061 $ — $ 12,061 $ — Corporate debt securities 119,800 — 119,800 — Time deposits 58,712 — 58,712 — Waters 401(k) Restoration Plan assets 39,605 39,605 — — Foreign currency exchange contracts 208 — 208 — Total $ 230,386 $ 39,605 $ 190,781 $ — Liabilities: Contingent consideration $ 1,225 $ — $ — $ 1,225 Foreign currency exchange contracts 241 — 241 — Interest rate cross-currency swap agreements 20,030 — 20,030 — Total $ 21,496 $ — $ 20,271 $ 1,225 The following table represents the Company’s assets and liabilities measured at fair value on a recurring basis at December 31, 2020 (in thousands): Total at December 31, 2020 Quoted in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Assets: Time deposits $ 6,451 $ — $ 6,451 $ — Waters 401(k) Restoration Plan assets 38,988 38,988 — — Foreign currency exchange contracts 836 — 836 — Total $ 46,275 $ 38,988 $ 7,287 $ — Liabilities: Contingent consideration $ 1,185 $ — $ — $ 1,185 Foreign currency exchange contracts 185 — 185 — Interest rate cross-currency swap agreements 44,996 — 44,996 — Total $ 46,366 $ — $ 45,181 $ 1,185 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 December 2020 acquisition of Integrated Software Solutions (“ISS”) 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. The fair value of future contingent consideration payments related to the December 2020 acquisition of ISS was estimated to be $ million at both 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 $1.4 billion and $910 million at April 3, 2021 and December 31, 2020, 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 $1.3 billion and $1.0 billion at April 3, 2021 and December 31, 2020, 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 April 3, 2021, the Company had entered into three-year interest rate cross-currency swap derivative agreements with an aggregate notional value of $520 million to hedge the variability in the movement of foreign currency exchange rates on a portion of its Euro-denominated net asset investments. Under hedge accounting, the change in fair value of the derivative that relates to changes in the foreign currency spot rate are recorded in the currency translation adjustment in other comprehensive income and remain in accumulated comprehensive income in stockholders’ equity (deficit) until the sale or substantial liquidation of the foreign operation. The difference between the interest rate received and paid under the interest rate cross-currency swap derivative agreement is recorded in interest income in the statement of operations. 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): April 3, 2021 December 31, 2020 Notional Value Fair Value Notional Value Fair Value Foreign currency exchange contracts: Other current assets $ 36,131 $ 208 $ 66,690 $ 836 Other current liabilities $ 25,423 $ 241 $ 20,000 $ 185 Interest rate cross-currency swap agreements: Other liabilities $ 520,000 $ (20,030 ) $ 560,000 $ (44,996 ) Accumulated other comprehensive loss $ 23,751 $ 44,996 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 Three Months Ended Statement Classification April 3, 2021 March 28, 2020 Foreign currency exchange contracts: Realized gains (losses) on closed contracts Cost of sales $ 1,667 $ (2,981 ) Unrealized (losses) gains on open contracts Cost of sales (753 ) 1,325 Cumulative net pre-tax gains (losses) Cost of sales $ 914 $ (1,656 ) Interest rate cross-currency swap agreements: Interest earned Interest income $ 3,827 $ 3,714 Unrealized gains on contracts, net Stockholders’ equity (deficit) $ 21,244 $ 5,522 Stockholders’ Equity In January 2019, the Company’s Board of Directors authorized the Company to repurchase up to $4 billion of its outstanding common stock over a two-year pre-existing million, respectively, under the January 2019 authorization and other previously announced programs. In addition, the million of common stock related to the vesting of restricted stock units during the three months ended April 3, 2021 and March 28, 2020, respectively. As of April 3, 2021, the Company had repurchased an aggregate of 11.8 million shares at a cost of $2.6 billion under the January 2019 repurchase program and had a total of $1.4 billion authorized for future repurchases. In December 2020, the Company’s Board of Directors authorized the extension of the share repurchase program through January 21, 2023. The Company had $7 million of treasury stock purchases that were accrued and unsettled at April 3, 2021. These transactions were settled in April 2021, during the Company’s second 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 three months ended April 3, 2021 and March 28, 2020 (in thousands): Balance at Beginning of Period Accruals for Warranties Settlements Made Balance at End of Period Accrued warranty liability: April 3, 2021 $ 10,950 $ 2,337 $ (2,582 ) $ 10,705 March 28, 2020 $ 11,964 $ 1,671 $ (2,619 ) $ 11,016 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 months ended March 28, 2020, the Company million of severance-related costs, lease termination costs and other related costs. The Company did not incur any restructuring charges during the three months ended April 3, 2021.

Revenue Recognition

Revenue Recognition	3 Months Ended
	Apr. 03, 2021
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 three months ended April 3, 2021 and March 28, 2020 (in thousands): April 3, 2021 March 28, 2020 Balance at the beginning of the period $ 239,759 $ 213,695 Recognition of revenue included in balance at beginning of the period (94,078 ) (82,604 ) Revenue deferred during the period, net of revenue recognized 182,384 138,430 Balance at the end of the period $ 328,065 $ 269,521 The Company classified $47 million and $42 million of deferred revenue and customer advances in other long-term liabilities at April 3, 2021 and December 31, 2020, 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): April 3, 2021 Deferred revenue and customer advances expected to be recognized in: One less $ 280,848 13-24 25,860 25 21,357 Total $ 328,065

Marketable Securities

Marketable Securities	3 Months Ended
	Apr. 03, 2021
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): April 3, 2021 Amortized Cost Unrealized Gain Unrealized Loss Fair Value U.S. Treasury securities $ 12,061 $ — $ — $ 12,061 Corporate debt securities 119,810 7 (17 ) 119,800 Time deposits 58,712 — — 58,712 Total $ 190,583 $ 7 $ (17 ) $ 190,573 Amounts included in: Cash equivalents $ 64,590 $ 1 $ (4 ) $ 64,587 Investments 125,993 6 (13 ) 125,986 Total $ 190,583 $ 7 $ (17 ) $ 190,573 December 31, 2020 Amortized Unrealized Unrealized Fair Time deposits 6,451 — — 6,451 Total $ 6,451 $ — $ — $ 6,451 Amounts included in: Investments 6,451 — — 6,451 Total $ 6,451 $ — $ — $ 6,451 The estimated fair value of marketable debt securities by maturity date is as follows (in thousands): April 3, 2021 December 31, 2020 Due in one year or less $ 164,762 $ 6,451 Due after one year through three years 25,811 — Total $ 190,573 $ 6,451

Inventories

Inventories	3 Months Ended
	Apr. 03, 2021
Inventory Disclosure [Abstract]
Inventories	4 Inventories Inventories are classified as follows (in thousands): April 3, 2021 December 31, 2020 Raw materials $ 141,600 $ 133,490 Work in progress 21,689 18,678 Finished goods 164,678 152,113 Total inventories $ 327,967 $ 304,281

Goodwill and Other Intangibles

Goodwill and Other Intangibles	3 Months Ended
	Apr. 03, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Other Intangibles	5 Goodwill and Other Intangibles The carrying amount of goodwill was $438 million and $444 million at April 3, 2021 and December 31, 2020, respectively. The effect of foreign currency translation decreased goodwill by $6 million. The Company’s intangible assets included in the consolidated balance sheets are detailed as follows (dollars in thousands): April 3, 2021 December 31, 2020 Gross Carrying Amount Accumulated Amortization Weighted- Average Amortization Period Gross Carrying Amount Accumulated Amortization Weighted- Average Amortization Period Capitalized software $ 563,157 $ 403,614 5 years $ 584,452 $ 409,847 5 years Purchased intangibles 202,828 160,028 11 years 205,585 160,342 11 years Trademarks 9,680 — — 9,680 — — Licenses 5,960 5,773 6 years 5,923 5,697 6 years Patents and other intangibles 92,321 63,678 8 years 90,699 61,808 8 years Total $ 873,946 $ 633,093 7 years $ 896,339 $ 637,694 7 years The gross carrying value of intangible assets and accumulated amortization for intangible assets decreased by $27 million and $19 million, respectively, in the three months ended April 3, 2021 due to the effects of foreign currency translation. Amortization expense for intangible assets was $15 million and $13 million for the three months ended April 3, 2021 and March 28, 2020, respectively. Amortization expense for intangible assets is estimated to be $62 million per year for each of the next five years.

Debt

Debt	3 Months Ended
	Apr. 03, 2021
Debt Disclosure [Abstract]
Debt	6 Debt In March 2021, the Company issued the following senior unsecured notes: Senior Term Interest Rate Face Value Maturity Date Series N 5 years 1.68% $ 100 March 2026 Series O 10 years 2.25% $ 400 March 2031 The Company used the proceeds from the issuance of these senior unsecured notes to repay other outstanding debt and for general corporate purposes. Interest on the Series N and O Senior Notes is payable semi-annually. The Company may prepay some or all of the Senior Notes at any time in an amount not less than 10% of the aggregate principal amount of the Senior Notes then outstanding, plus the applicable make-whole amount for Series N and O Senior Notes, in each case, upon no more than 60 nor less than 20 days’ written notice to the holders of the Senior Notes. 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 April 3, 2021 and December 31, 2020, the revolving facility and term loan had a total of $300 million and $400 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 April 3, 2021 and December 31, 2020, the Company had a total of $1.4 billion and $1.0 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. 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 April 3, 2021 and December 31, 2020 (in thousands): April 3, 2021 December 31, 2020 Senior unsecured notes - Series E - 3.97%, due March 2021 — 50,000 Senior unsecured notes - Series F - 3.40%, due June 2021 100,000 100,000 Total notes payable and debt, current 100,000 150,000 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 Senior unsecured notes - Series N - 1.68%, due March 2026 100,000 — Senior unsecured notes - Series O - 2.25%, due March 2031 400,000 — Credit agreement 300,000 400,000 Unamortized debt issuance costs (6,910 ) (3,485 ) Total long-term debt 1,603,090 1,206,515 Total debt $ 1,703,090 $ 1,356,515 * Series H senior unsecured notes bear interest at a 3-month As of April 3, 2021 and December 31, 2020, the Company had a total amount available to borrow under the 2017 Credit Agreement of $1.5 billion and $1.4 billion, respectively, 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 2.92% at April 3, 2021 and December 31, 2020, respectively. As of April 3, 2021, the Company was in compliance with all debt covenants. The Company and its foreign subsidiaries also had available short-term lines of credit totaling $122 million and $109 million at April 3, 2021 and December 31, 2020, respectively, for the purpose of short-term borrowing and issuance of commercial guarantees. None of the Company’s foreign subsidiaries had outstanding short-term borrowings as of April 3, 2021 or As of April 3, 2021, the Company had entered into three-year interest rate cross-currency swap derivative agreements with an aggregate notional value of $520 million to hedge the variability in the movement of foreign currency exchange rates on a portion of its Euro-denominated net asset investments.

Income Taxes

Income Taxes	3 Months Ended
	Apr. 03, 2021
Income Tax Disclosure [Abstract]
Income Taxes	7 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 %, %, % and %, respectively, as of April , . The Company ha d a contractual tax rate of % on qualifying activities in Singapore through , based upon the achievement of certain contractual milestones. The Company has a new Development and Expansion Incentive in Singapore that provides a concessionary income tax rate of % on certain types of income for the period April , through March , . The effect of applying the % concessionary income tax rate rather than the statutory tax rate to income arising from qualifying activities in Singapore increased the Company’s net income for the months ended April , and March , by $4 million and $ million, respectively, and increased the Company’s net income per diluted share by $ and $ , respectively. The Company’s effective tax for both March 28, 2020 included a $4 million income tax benefit related to certain restructuring charges. This income tax benefit decreased the effective tax rate by 7.1 percentage points for the three months ended March 28, 2020. The remaining differences between the effective tax rates can primarily be attributed to differences in the proportionate amounts of pre-tax income recognized in jurisdictions with different effective tax rates. The Company accounts for its uncertain tax return 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 three months ended April 3, 2021 and March 28, 2020 (in thousands): April 3, 2021 March 28, 2020 Balance at the beginning of the period $ 28,666 $ 27,790 Net reductions for lapse of statutes taken during the period (95 ) (101 ) Net additions for tax positions taken during the current period 289 203 Balance at the end of the period $ 28,860 $ 27,892 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, 201 5

Stock-Based Compensation

Stock-Based Compensation	3 Months Ended
	Apr. 03, 2021
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Stock-Based Compensation	8 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 April 3, 2021, the 2020 Plan had 6.5 million shares available for grant in the form of incentive or non-qualified options may not be less than the fair market value of the underlying stock at the date of grant. The 2020 Plan is scheduled to terminate on May 13, 2030. Options generally will expire no later than ten yearsafter the date on which they are granted and will become exercisable as directed by the Compensation Committee of the Board of Directors and generally vest in equal annual installments over a 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 months ended April 3, 2021 and March 28, 2020 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 April 3, 2021 March 28, 2020 Cost of sales $ 633 $ 570 Selling and administrative expenses 6,420 7,373 Research and development expenses 1,252 1,253 Total stock-based compensation $ 8,305 $ 9,196 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 zero-coupon Three Months Ended Options Issued and Significant Assumptions Used to Estimate Option Fair Values April 3, 2021 March 28, 2020 Options issued in thousands 139 227 Risk-free interest rate 0.8 % 1.4 % Expected life in years 6 6 Expected volatility 33.1 % 26.5 % Expected dividend s — — Three Months Ended Weighted-Average Exercise Price and Fair Value of Options on the Date of Grant April 3, 2021 March 28, 2020 Exercise price $ 277.32 $ 216.08 Fair value $ 91.63 $ 61.70 The following table summarizes stock option activity for the plans for the three months ended April 3, 2021 (in thousands, except per share data): Number of Shares Exercise Price per Share Weighted-Average Outstanding at December 31, 2020 1,067 $ 75.94 to $ 238.52 $ 179.59 Granted 139 $ 250.15 to $ 280.80 $ 277.32 Exercised (95 ) $ 99.22 to $ 238.52 $ 159.10 Canceled (125 ) $ 139.51 to $ 224.37 $ 183.98 Outstanding at April 3, 2021 986 $ 75.94 to $ 266.05 $ 194.77 Restricted Stock During the three months ended April 3, 2021, the Company granted four thousand shares of restricted stock. The weighted-average fair value per share of these awards on the grant date was $250.15 . Restricted Stock Units The following table summarizes the unvested restricted stock unit award activity for the three months ended April 3, 2021 (in thousands, except per share data): Shares Weighted-Average Unvested at December 31, 2020 271 $ 202.00 Granted 76 $ 279.66 Vested (80 ) $ 182.14 Forfeited (3 ) $ 210.35 Unvested at April 3, 2021 264 $ 230.28 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 Three Months Ended Performance Stock Units Issued and Significant Assumptions Used April 3, 2021 March 28, 2020 Performance stock units issued (in thousands) 41 58 Risk-free interest rate 0.2 % 1.3 % Expected life in years 2.9 2.9 Expected volatility 38.7 % 25.1 % Average volatility of peer companies 34.7 % 26.1 % Correlation coefficient 45.8 % 36.6 % Expected dividends — — The following table summarizes the unvested performance stock unit award activity for the three months ended April 3, 2021 (in thousands, except per share data): Shares Weighted-Average Unvested at December 31, 2020 95 $ 230.36 Granted 41 $ 315.98 Vested (5 ) $ 242.94 Forfeited (33 ) $ 228.24 Unvested at April 3, 2021 98 $ 266.25

Earnings Per Share

Earnings Per Share	3 Months Ended
	Apr. 03, 2021
Earnings Per Share [Abstract]
Earnings Per Share	9 Earnings Per Share Basic and diluted EPS calculations are detailed as follows (in thousands, except per share data): Three Months Ended April 3, 2021 Net Income Weighted- Per Net income per basic common share $ 148,127 62,260 $ 2.38 Effect of dilutive stock option, restricted stock, performance stock unit and restricted stock unit securities — 372 (0.01 ) Net income per diluted common share $ 148,127 62,632 $ 2.37 Three Months Ended March 28, 2020 Net Income Weighted- Average Shares Per Net income per basic common share $ 53,562 62,232 $ 0.86 Effect of dilutive stock option, restricted stock, performance stock unit and restricted stock unit securities — 394 — Net income per diluted common share $ 53,562 62,626 $ 0.86 For the three months

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income	3 Months Ended
	Apr. 03, 2021
Equity [Abstract]
Accumulated Other Comprehensive Income	10 Accumulated Other Comprehensive Income The components of accumulated other comprehensive loss are detailed as follows (in thousands): Currency Unrealized Loss on Unrealized Gain Accumulated Other Balance at December 31, 2020 $ (98,082 ) $ (19,861 ) $ — $ (117,943 ) Other comprehensive loss, net of tax 5,825 922 (10 ) 6,737 Balance at April 3, 2021 $ (92,257 ) $ (18,939 ) $ (10 ) $ (111,206 )

Retirement Plans

Retirement Plans	3 Months Ended
	Apr. 03, 2021
Retirement Benefits [Abstract]
Retirement Plans	11 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 Three Months Ended April 3, 2021 March 28, 2020 U.S. Retiree Non-U.S. U.S. Retiree Non-U.S. Healthcare Pension Healthcare Pension Plan Plans Plan Plans Service cost $ 233 $ 1,160 $ 151 $ 1,099 Interest cost 139 315 176 345 Expected return on plan assets (255 ) (466 ) (219 ) (456 ) Net amortization: Prior service credit (5 ) (41 ) (5 ) (40 ) Net actuarial loss — 262 — 385 Net periodic pension cost $ 112 $ 1,230 $ 103 $ 1,333 During fiscal year 2021, 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	3 Months Ended
	Apr. 03, 2021
Segment Reporting [Abstract]
Business Segment Information	12 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 twooperating 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 months ended April 3, 2021 and March 28, 2020 (in thousands): Three Months Ended April 3, 2021 March 28, 2020 Product net sales: Waters instrument systems $ 216,072 $ 142,829 Chemistry consumables 118,974 97,245 TA instrument systems 46,976 34,109 Total product sales 382,022 274,183 Service net sales: Waters service 206,832 174,137 TA service 19,691 16,619 Total service sales 226,523 190,756 Total net sales $ 608,545 $ 464,939 Net sales are attributable to geographic areas based on the region of destination. Geographic sales information is presented below for the three months ended April 3, 2021 and March 28, 2020 (in thousands): Three Months Ended April 3, 2021 March 28, 2020 Net Sales: Asia: China $ 102,919 $ 47,231 Japan 50,296 45,089 Asia Other 76,327 66,760 Total Asia 229,542 159,080 Americas: United States 162,433 143,898 Americas Other 34,924 28,278 Total Americas 197,357 172,176 Europe 181,646 133,683 Total net sales $ 608,545 $ 464,939 Net sales by customer class are as follows for the three months ended April 3, 2021 and March 28, 2020 (in thousands): Three Months Ended April 3, 2021 March 28, 2020 Pharmaceutical $ 360,148 $ 272,563 Industrial 183,273 143,354 Academic and government 65,124 49,022 Total net sales $ 608,545 $ 464,939 Net sales for the Company recognized at a point in time versus over time are as follows for the three months ended April 3, 2021 and March 28, 2020 (in thousands): Three Months Ended April 3, 2021 March 28, 2020 Net sales recognized at a point in time: Instrument systems $ 263,048 $ 176,938 Chemistry consumables 118,974 97,245 Service sales recognized at a point in time (time & materials) 79,287 67,742 Total net sales recognized at a point in time 461,309 341,925 Net sales recognized over time: Service and software sales recognized over time (contracts) 147,236 123,014 Total net sales $ 608,545 $ 464,939

Recent Accounting Standard Chan

Recent Accounting Standard Changes and Developments	3 Months Ended
	Apr. 03, 2021
Accounting Changes and Error Corrections [Abstract]
Recent Accounting Standard Changes and Developments	13 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. In August 2018, accounting guidance was 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. The Company adopted this standard on January 1, 2021. The adoption 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. The Company adopted this standard on January 1, 2021. 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 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. In January of 2021 , evaluating the impact of reference rate reform and whether this guidance will be adopted.

Subsequent Events

Subsequent Events	3 Months Ended
	Apr. 03, 2021
Subsequent Events [Abstract]
Subsequent Events	14 Subsequent Events The Company has evaluated for the occurrence of subsequent events through the issuance date of the Company’s consolidated financial statements. No other recognized or non-recognized The Company has executed a settlement agreement to resolve patent infringement litigation with Bruker Corporation and Bruker Daltronik GmbH regarding their timsTOF product line. In connection with that settlement, the Company will receive in guaranteed payments, including minimum royalty payments, which will be recognized within other income in our consolidated statement of operations in the second quarter of

Basis of Presentation and Sum_2

Basis of Presentation and Summary of Significant Accounting Policies (Policies)	3 Months Ended
	Apr. 03, 2021
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 first fiscal quarters for 2021 and 2020 ended on April 3, 2021 and March 28, 2020, 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 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 affected by the ongoing global COVID-19 COVID-19 COVID-19 COVID-19 Through the date of the issuance of these financial statements, the Company’s consolidated financial position, results of operations and cash flows have not been materially impacted and, thus, the Company concluded that no goodwill or long-lived asset impairment analyses were required. Further, there have been no violations of debt covenants. Any prolonged material disruption of the Company’s employees, suppliers, manufacturing, or customers could materially impact its consolidated financial position, results of operations or cash flows.
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 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 April 3, 2021 and December 31, 2020, $317 million out of $810 million and $364 million out of $443 million, respectively, of the Company’s total cash, cash equivalents and investments were held by foreign subsidiaries. In addition, $256 million out of $810 million and $254 million out of $443 million of cash, cash equivalents and investments were held in currencies other than the U.S. dollar at April 3, 2021 and December 31, 2020, respectively.
Accounts Receivable and Allowance for Credit Losses	Accounts Receivable and Allowance for Credit Losses 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 The following is a summary of the activity of the Company’s allowance for credit losses for the three months ended April 3, 2021 and March 28, 2020 (in thousands): Balance at of Period Impact of Adoption Additions Deductions Balance at Period Allowance for Credit Losses April 3, 2021 $ 14,381 $ — $ 775 $ (1,561 ) $ 13,595 March 28, 2020 $ 9,560 $ 985 $ 3,506 $ (1,749 ) $ 12,302
Income Taxes	The Company accounts for its uncertain tax return 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 three months ended April 3, 2021, the Company recorded an unrealized gain on an equity security still held at the reporting date of approximately $10 million within other income (expense) on the income statement. This unrealized gain was recorded as an upward 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 MeasurementsIn 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 April 3, 2021 and December 31, 2020. 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 April 3, 2021 (in thousands): Total at April 3, 2021 Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Assets: U.S. Treasury securities $ 12,061 $ — $ 12,061 $ — Corporate debt securities 119,800 — 119,800 — Time deposits 58,712 — 58,712 — Waters 401(k) Restoration Plan assets 39,605 39,605 — — Foreign currency exchange contracts 208 — 208 — Total $ 230,386 $ 39,605 $ 190,781 $ — Liabilities: Contingent consideration $ 1,225 $ — $ — $ 1,225 Foreign currency exchange contracts 241 — 241 — Interest rate cross-currency swap agreements 20,030 — 20,030 — Total $ 21,496 $ — $ 20,271 $ 1,225 The following table represents the Company’s assets and liabilities measured at fair value on a recurring basis at December 31, 2020 (in thousands): Total at December 31, 2020 Quoted in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Assets: Time deposits $ 6,451 $ — $ 6,451 $ — Waters 401(k) Restoration Plan assets 38,988 38,988 — — Foreign currency exchange contracts 836 — 836 — Total $ 46,275 $ 38,988 $ 7,287 $ — Liabilities: Contingent consideration $ 1,185 $ — $ — $ 1,185 Foreign currency exchange contracts 185 — 185 — Interest rate cross-currency swap agreements 44,996 — 44,996 — Total $ 46,366 $ — $ 45,181 $ 1,185 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 December 2020 acquisition of Integrated Software Solutions (“ISS”) 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. The fair value of future contingent consideration payments related to the December 2020 acquisition of ISS was estimated to be $ million at both 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 $1.4 billion and $910 million at April 3, 2021 and December 31, 2020, 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 $1.3 billion and $1.0 billion at April 3, 2021 and December 31, 2020, 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 April 3, 2021, the Company had entered into three-year interest rate cross-currency swap derivative agreements with an aggregate notional value of $520 million to hedge the variability in the movement of foreign currency exchange rates on a portion of its Euro-denominated net asset investments. Under hedge accounting, the change in fair value of the derivative that relates to changes in the foreign currency spot rate are recorded in the currency translation adjustment in other comprehensive income and remain in accumulated comprehensive income in stockholders’ equity (deficit) until the sale or substantial liquidation of the foreign operation. The difference between the interest rate received and paid under the interest rate cross-currency swap derivative agreement is recorded in interest income in the statement of operations. 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): April 3, 2021 December 31, 2020 Notional Value Fair Value Notional Value Fair Value Foreign currency exchange contracts: Other current assets $ 36,131 $ 208 $ 66,690 $ 836 Other current liabilities $ 25,423 $ 241 $ 20,000 $ 185 Interest rate cross-currency swap agreements: Other liabilities $ 520,000 $ (20,030 ) $ 560,000 $ (44,996 ) Accumulated other comprehensive loss $ 23,751 $ 44,996 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 Three Months Ended Statement Classification April 3, 2021 March 28, 2020 Foreign currency exchange contracts: Realized gains (losses) on closed contracts Cost of sales $ 1,667 $ (2,981 ) Unrealized (losses) gains on open contracts Cost of sales (753 ) 1,325 Cumulative net pre-tax gains (losses) Cost of sales $ 914 $ (1,656 ) Interest rate cross-currency swap agreements: Interest earned Interest income $ 3,827 $ 3,714 Unrealized gains on contracts, net Stockholders’ equity (deficit) $ 21,244 $ 5,522
Stockholders' Equity	Stockholders’ Equity In January 2019, the Company’s Board of Directors authorized the Company to repurchase up to $4 billion of its outstanding common stock over a two-year pre-existing million, respectively, under the January 2019 authorization and other previously announced programs. In addition, the million of common stock related to the vesting of restricted stock units during the three months ended April 3, 2021 and March 28, 2020, respectively. As of April 3, 2021, the Company had repurchased an aggregate of 11.8 million shares at a cost of $2.6 billion under the January 2019 repurchase program and had a total of $1.4 billion authorized for future repurchases. In December 2020, the Company’s Board of Directors authorized the extension of the share repurchase program through January 21, 2023. The Company had $7 million of treasury stock purchases that were accrued and unsettled at April 3, 2021. These transactions were settled in April 2021, during the Company’s second 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 three months ended April 3, 2021 and March 28, 2020 (in thousands): Balance at Beginning of Period Accruals for Warranties Settlements Made Balance at End of Period Accrued warranty liability: April 3, 2021 $ 10,950 $ 2,337 $ (2,582 ) $ 10,705 March 28, 2020 $ 11,964 $ 1,671 $ (2,619 ) $ 11,016
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 months ended March 28, 2020, the Company million of severance-related costs, lease termination costs and other related costs. The Company did not incur any restructuring charges during the three months ended April 3, 2021.
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 theseestimates, 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.
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. In August 2018, accounting guidance was 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. The Company adopted this standard on January 1, 2021. The adoption 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. The Company adopted this standard on January 1, 2021. 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 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. In January of 2021 , evaluating the impact of reference rate reform and whether this guidance will be adopted.
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 three months ended April 3, 2021 and March 28, 2020 (in thousands): April 3, 2021 March 28, 2020 Balance at the beginning of the period $ 239,759 $ 213,695 Recognition of revenue included in balance at beginning of the period (94,078 ) (82,604 ) Revenue deferred during the period, net of revenue recognized 182,384 138,430 Balance at the end of the period $ 328,065 $ 269,521 The Company classified $47 million and $42 million of deferred revenue and customer advances in other long-term liabilities at April 3, 2021 and December 31, 2020, 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): April 3, 2021 Deferred revenue and customer advances expected to be recognized in: One less $ 280,848 13-24 25,860 25 21,357 Total $ 328,065

Basis of Presentation and Sum_3

Basis of Presentation and Summary of Significant Accounting Policies (Tables)	3 Months Ended
	Apr. 03, 2021
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 credit losses for the three months ended April 3, 2021 and March 28, 2020 (in thousands): Balance at of Period Impact of Adoption Additions Deductions Balance at Period Allowance for Credit Losses April 3, 2021 $ 14,381 $ — $ 775 $ (1,561 ) $ 13,595 March 28, 2020 $ 9,560 $ 985 $ 3,506 $ (1,749 ) $ 12,302
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 April 3, 2021 (in thousands): Total at April 3, 2021 Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Assets: U.S. Treasury securities $ 12,061 $ — $ 12,061 $ — Corporate debt securities 119,800 — 119,800 — Time deposits 58,712 — 58,712 — Waters 401(k) Restoration Plan assets 39,605 39,605 — — Foreign currency exchange contracts 208 — 208 — Total $ 230,386 $ 39,605 $ 190,781 $ — Liabilities: Contingent consideration $ 1,225 $ — $ — $ 1,225 Foreign currency exchange contracts 241 — 241 — Interest rate cross-currency swap agreements 20,030 — 20,030 — Total $ 21,496 $ — $ 20,271 $ 1,225 The following table represents the Company’s assets and liabilities measured at fair value on a recurring basis at December 31, 2020 (in thousands): Total at December 31, 2020 Quoted in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Assets: Time deposits $ 6,451 $ — $ 6,451 $ — Waters 401(k) Restoration Plan assets 38,988 38,988 — — Foreign currency exchange contracts 836 — 836 — Total $ 46,275 $ 38,988 $ 7,287 $ — Liabilities: Contingent consideration $ 1,185 $ — $ — $ 1,185 Foreign currency exchange contracts 185 — 185 — Interest rate cross-currency swap agreements 44,996 — 44,996 — Total $ 46,366 $ — $ 45,181 $ 1,185
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): April 3, 2021 December 31, 2020 Notional Value Fair Value Notional Value Fair Value Foreign currency exchange contracts: Other current assets $ 36,131 $ 208 $ 66,690 $ 836 Other current liabilities $ 25,423 $ 241 $ 20,000 $ 185 Interest rate cross-currency swap agreements: Other liabilities $ 520,000 $ (20,030 ) $ 560,000 $ (44,996 ) Accumulated other comprehensive loss $ 23,751 $ 44,996
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 Three Months Ended Statement Classification April 3, 2021 March 28, 2020 Foreign currency exchange contracts: Realized gains (losses) on closed contracts Cost of sales $ 1,667 $ (2,981 ) Unrealized (losses) gains on open contracts Cost of sales (753 ) 1,325 Cumulative net pre-tax gains (losses) Cost of sales $ 914 $ (1,656 ) Interest rate cross-currency swap agreements: Interest earned Interest income $ 3,827 $ 3,714 Unrealized gains on contracts, net Stockholders’ equity (deficit) $ 21,244 $ 5,522
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 three months ended April 3, 2021 and March 28, 2020 (in thousands): Balance at Beginning of Period Accruals for Warranties Settlements Made Balance at End of Period Accrued warranty liability: April 3, 2021 $ 10,950 $ 2,337 $ (2,582 ) $ 10,705 March 28, 2020 $ 11,964 $ 1,671 $ (2,619 ) $ 11,016

Revenue Recognition (Tables)

Revenue Recognition (Tables)	3 Months Ended
	Apr. 03, 2021
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 three months ended April 3, 2021 and March 28, 2020 (in thousands): April 3, 2021 March 28, 2020 Balance at the beginning of the period $ 239,759 $ 213,695 Recognition of revenue included in balance at beginning of the period (94,078 ) (82,604 ) Revenue deferred during the period, net of revenue recognized 182,384 138,430 Balance at the end of the period $ 328,065 $ 269,521
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): April 3, 2021 Deferred revenue and customer advances expected to be recognized in: One less $ 280,848 13-24 25,860 25 21,357 Total $ 328,065

Marketable Securities (Tables)

Marketable Securities (Tables)	3 Months Ended
	Apr. 03, 2021
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): April 3, 2021 Amortized Cost Unrealized Gain Unrealized Loss Fair Value U.S. Treasury securities $ 12,061 $ — $ — $ 12,061 Corporate debt securities 119,810 7 (17 ) 119,800 Time deposits 58,712 — — 58,712 Total $ 190,583 $ 7 $ (17 ) $ 190,573 Amounts included in: Cash equivalents $ 64,590 $ 1 $ (4 ) $ 64,587 Investments 125,993 6 (13 ) 125,986 Total $ 190,583 $ 7 $ (17 ) $ 190,573 December 31, 2020 Amortized Unrealized Unrealized Fair Time deposits 6,451 — — 6,451 Total $ 6,451 $ — $ — $ 6,451 Amounts included in: Investments 6,451 — — 6,451 Total $ 6,451 $ — $ — $ 6,451
Investments Classified By Contractual Maturity Date	The estimated fair value of marketable debt securities by maturity date is as follows (in thousands): April 3, 2021 December 31, 2020 Due in one year or less $ 164,762 $ 6,451 Due after one year through three years 25,811 — Total $ 190,573 $ 6,451

Inventories (Tables)

Inventories (Tables)	3 Months Ended
	Apr. 03, 2021
Inventory Disclosure [Abstract]
Inventory, Net of Reserves	Inventories are classified as follows (in thousands): April 3, 2021 December 31, 2020 Raw materials $ 141,600 $ 133,490 Work in progress 21,689 18,678 Finished goods 164,678 152,113 Total inventories $ 327,967 $ 304,281

Goodwill and Other Intangibles

Goodwill and Other Intangibles (Tables)	3 Months Ended
	Apr. 03, 2021
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): April 3, 2021 December 31, 2020 Gross Carrying Amount Accumulated Amortization Weighted- Average Amortization Period Gross Carrying Amount Accumulated Amortization Weighted- Average Amortization Period Capitalized software $ 563,157 $ 403,614 5 years $ 584,452 $ 409,847 5 years Purchased intangibles 202,828 160,028 11 years 205,585 160,342 11 years Trademarks 9,680 — — 9,680 — — Licenses 5,960 5,773 6 years 5,923 5,697 6 years Patents and other intangibles 92,321 63,678 8 years 90,699 61,808 8 years Total $ 873,946 $ 633,093 7 years $ 896,339 $ 637,694 7 years

Debt (Tables)

Debt (Tables)	3 Months Ended
	Apr. 03, 2021
Debt Disclosure [Abstract]
Summary of Senior Unsecured Notes Issued	In March 2021, the Company issued the following senior unsecured notes: Senior Term Interest Rate Face Value Maturity Date Series N 5 years 1.68% $ 100 March 2026 Series O 10 years 2.25% $ 400 March 2031
Summary of Outstanding Debt	The Company had the following outstanding debt at April 3, 2021 and December 31, 2020 (in thousands): April 3, 2021 December 31, 2020 Senior unsecured notes - Series E - 3.97%, due March 2021 — 50,000 Senior unsecured notes - Series F - 3.40%, due June 2021 100,000 100,000 Total notes payable and debt, current 100,000 150,000 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 Senior unsecured notes - Series N - 1.68%, due March 2026 100,000 — Senior unsecured notes - Series O - 2.25%, due March 2031 400,000 — Credit agreement 300,000 400,000 Unamortized debt issuance costs (6,910 ) (3,485 ) Total long-term debt 1,603,090 1,206,515 Total debt $ 1,703,090 $ 1,356,515 * Series H senior unsecured notes bear interest at a 3-month

Income Taxes (Tables)

Income Taxes (Tables)	3 Months Ended
	Apr. 03, 2021
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 three months ended April 3, 2021 and March 28, 2020 (in thousands): April 3, 2021 March 28, 2020 Balance at the beginning of the period $ 28,666 $ 27,790 Net reductions for lapse of statutes taken during the period (95 ) (101 ) Net additions for tax positions taken during the current period 289 203 Balance at the end of the period $ 28,860 $ 27,892

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	3 Months Ended
	Apr. 03, 2021
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Schedule of Stock-Based Compensation Expense	The consolidated statements of operations for the three months ended April 3, 2021 and March 28, 2020 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 April 3, 2021 March 28, 2020 Cost of sales $ 633 $ 570 Selling and administrative expenses 6,420 7,373 Research and development expenses 1,252 1,253 Total stock-based compensation $ 8,305 $ 9,196
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 three months ended April 3, 2021 and March 28, 2020 are as follows: Three Months Ended Options Issued and Significant Assumptions Used to Estimate Option Fair Values April 3, 2021 March 28, 2020 Options issued in thousands 139 227 Risk-free interest rate 0.8 % 1.4 % Expected life in years 6 6 Expected volatility 33.1 % 26.5 % Expected dividend s — —
Stock Options Outstanding Roll Forward	Three Months Ended Weighted-Average Exercise Price and Fair Value of Options on the Date of Grant April 3, 2021 March 28, 2020 Exercise price $ 277.32 $ 216.08 Fair value $ 91.63 $ 61.70
Stock Options Outstanding by Exercise Price Range	The following table summarizes stock option activity for the plans for the three months ended April 3, 2021 (in thousands, except per share data): Number of Shares Exercise Price per Share Weighted-Average Outstanding at December 31, 2020 1,067 $ 75.94 to $ 238.52 $ 179.59 Granted 139 $ 250.15 to $ 280.80 $ 277.32 Exercised (95 ) $ 99.22 to $ 238.52 $ 159.10 Canceled (125 ) $ 139.51 to $ 224.37 $ 183.98 Outstanding at April 3, 2021 986 $ 75.94 to $ 266.05 $ 194.77
Restricted Stock Units Unvested Roll Forward	The following table summarizes the unvested restricted stock unit award activity for the three months ended April 3, 2021 (in thousands, except per share data): Shares Weighted-Average Unvested at December 31, 2020 271 $ 202.00 Granted 76 $ 279.66 Vested (80 ) $ 182.14 Forfeited (3 ) $ 210.35 Unvested at April 3, 2021 264 $ 230.28 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 three months ended April 3, 2021 and March 28, 2020 are as follows: Three Months Ended Performance Stock Units Issued and Significant Assumptions Used April 3, 2021 March 28, 2020 Performance stock units issued (in thousands) 41 58 Risk-free interest rate 0.2 % 1.3 % Expected life in years 2.9 2.9 Expected volatility 38.7 % 25.1 % Average volatility of peer companies 34.7 % 26.1 % Correlation coefficient 45.8 % 36.6 % Expected dividends — —
Performance Stock Units Unvested Roll Forward	The following table summarizes the unvested performance stock unit award activity for the three months ended April 3, 2021 (in thousands, except per share data): Shares Weighted-Average Unvested at December 31, 2020 95 $ 230.36 Granted 41 $ 315.98 Vested (5 ) $ 242.94 Forfeited (33 ) $ 228.24 Unvested at April 3, 2021 98 $ 266.25

Earnings Per Share (Tables)

Earnings Per Share (Tables)	3 Months Ended
	Apr. 03, 2021
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 April 3, 2021 Net Income Weighted- Per Net income per basic common share $ 148,127 62,260 $ 2.38 Effect of dilutive stock option, restricted stock, performance stock unit and restricted stock unit securities — 372 (0.01 ) Net income per diluted common share $ 148,127 62,632 $ 2.37 Three Months Ended March 28, 2020 Net Income Weighted- Average Shares Per Net income per basic common share $ 53,562 62,232 $ 0.86 Effect of dilutive stock option, restricted stock, performance stock unit and restricted stock unit securities — 394 — Net income per diluted common share $ 53,562 62,626 $ 0.86

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Income (Tables)	3 Months Ended
	Apr. 03, 2021
Equity [Abstract]
Schedule of Accumulated Other Comprehensive Income	The components of accumulated other comprehensive loss are detailed as follows (in thousands): Currency Unrealized Loss on Unrealized Gain Accumulated Other Balance at December 31, 2020 $ (98,082 ) $ (19,861 ) $ — $ (117,943 ) Other comprehensive loss, net of tax 5,825 922 (10 ) 6,737 Balance at April 3, 2021 $ (92,257 ) $ (18,939 ) $ (10 ) $ (111,206 )

Retirement Plans (Tables)

Retirement Plans (Tables)	3 Months Ended
	Apr. 03, 2021
Retirement Benefits [Abstract]
Defined Benefit Plan, Net Periodic Benefit Cost	The summary of the components of net periodic Three Months Ended April 3, 2021 March 28, 2020 U.S. Retiree Non-U.S. U.S. Retiree Non-U.S. Healthcare Pension Healthcare Pension Plan Plans Plan Plans Service cost $ 233 $ 1,160 $ 151 $ 1,099 Interest cost 139 315 176 345 Expected return on plan assets (255 ) (466 ) (219 ) (456 ) Net amortization: Prior service credit (5 ) (41 ) (5 ) (40 ) Net actuarial loss — 262 — 385 Net periodic pension cost $ 112 $ 1,230 $ 103 $ 1,333

Business Segment Information (T

Business Segment Information (Tables)	3 Months Ended
	Apr. 03, 2021
Segment Reporting [Abstract]
Summary of Net Sales for Company's Products and Services	Net sales for the Company’s products and services are as follows for the three months ended April 3, 2021 and March 28, 2020 (in thousands): Three Months Ended April 3, 2021 March 28, 2020 Product net sales: Waters instrument systems $ 216,072 $ 142,829 Chemistry consumables 118,974 97,245 TA instrument systems 46,976 34,109 Total product sales 382,022 274,183 Service net sales: Waters service 206,832 174,137 TA service 19,691 16,619 Total service sales 226,523 190,756 Total net sales $ 608,545 $ 464,939
Summary of Geographic Sales Information	Net sales are attributable to geographic areas based on the region of destination. Geographic sales information is presented below for the three months ended April 3, 2021 and March 28, 2020 (in thousands): Three Months Ended April 3, 2021 March 28, 2020 Net Sales: Asia: China $ 102,919 $ 47,231 Japan 50,296 45,089 Asia Other 76,327 66,760 Total Asia 229,542 159,080 Americas: United States 162,433 143,898 Americas Other 34,924 28,278 Total Americas 197,357 172,176 Europe 181,646 133,683 Total net sales $ 608,545 $ 464,939
Summary of Net Sales by Customer Class	Net sales by customer class are as follows for the three months ended April 3, 2021 and March 28, 2020 (in thousands): Three Months Ended April 3, 2021 March 28, 2020 Pharmaceutical $ 360,148 $ 272,563 Industrial 183,273 143,354 Academic and government 65,124 49,022 Total net sales $ 608,545 $ 464,939
Summary of Net Sales of Company Recognized at a Point in Time Versus Over Time	Net sales for the Company recognized at a point in time versus over time are as follows for the three months ended April 3, 2021 and March 28, 2020 (in thousands): Three Months Ended April 3, 2021 March 28, 2020 Net sales recognized at a point in time: Instrument systems $ 263,048 $ 176,938 Chemistry consumables 118,974 97,245 Service sales recognized at a point in time (time & materials) 79,287 67,742 Total net sales recognized at a point in time 461,309 341,925 Net sales recognized over time: Service and software sales recognized over time (contracts) 147,236 123,014 Total net sales $ 608,545 $ 464,939

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
	Jan. 31, 2020	Apr. 03, 2021	Mar. 28, 2020	Dec. 31, 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		$ 810,000,000		$ 443,000,000
Contingent consideration		1,225,000		1,185,000
Long-term debt		$ 1,603,090,000		1,206,515,000
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		$ 180,659,000	$ 176,225,000
Unrealized gain on an equity security		10,000,000
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		$ 18,000,000
Cross Currency Interest Rate Contract [Member]
Basis of Presentation and Summary of Significant Accounting Policies [Line Items]
Term of derivative agreement		3 years
Notional value, derivative asset		$ 520,000,000		520,000,000
Programs Authorized by Board of Directors [Member]
Basis of Presentation and Summary of Significant Accounting Policies [Line Items]
Treasury stock shares acquired		0.6	0.8
Treasury stock		$ 173,000,000	$ 167,000,000,000
Related to Vesting of Restricted Stock Units [Member]
Basis of Presentation and Summary of Significant Accounting Policies [Line Items]
Treasury stock		$ 8,000,000	9,000,000
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		11.8
Treasury stock		$ 2,600,000,000
Stock repurchase program remaining amount authorized for future purchases		1,400,000,000
Treasury Stock [Member]
Basis of Presentation and Summary of Significant Accounting Policies [Line Items]
Accrued treasury stock repurchases		7,000,000	$ 0	0	$ 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		256,000,000		254,000,000
Unsecured Debt [Member]
Basis of Presentation and Summary of Significant Accounting Policies [Line Items]
Long-term debt		1,400,000,000		1,000,000,000
Unsecured Debt [Member] | Fixed Interest Rate [Member]
Basis of Presentation and Summary of Significant Accounting Policies [Line Items]
Long-term debt		1,400,000,000		910,000,000
Fair value of fixed interest rate debt		1,300,000,000		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		1,225,000		1,185,000
Held By Foreign Subsidiaries [Member]
Basis of Presentation and Summary of Significant Accounting Policies [Line Items]
Cash, cash equivalents and investments		$ 317,000,000		$ 364,000,000

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	3 Months Ended
	Apr. 03, 2021	Mar. 28, 2020
Allowance for Doubtful Accounts Receivable [Roll Forward]
Beginning balance	$ 14,381	$ 9,560
Impact of CECL Adoption		985
Additions	775	3,506
Deductions	(1,561)	(1,749)
Ending balance	$ 13,595	$ 12,302

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	Apr. 03, 2021	Dec. 31, 2020
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available for sale securities	$ 190,573	$ 6,451
Waters 401(k) Restoration Plan assets	39,605	38,988
Total	230,386	46,275
Contingent consideration	1,225	1,185
Total	21,496	46,366
Foreign Currency Exchange Contract [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value, derivative asset	208	836
Foreign currency exchange contracts	241	185
Cross Currency Interest Rate Contract [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Foreign currency exchange contracts	20,030	44,996
US Treasury Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available for sale securities	12,061
Corporate Debt Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available for sale securities	119,800
Time Deposits [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available for sale securities	58,712	6,451
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	39,605	38,988
Total	39,605	38,988
Contingent consideration	0
Total	0
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Foreign Currency Exchange Contract [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value, derivative asset	0
Foreign currency exchange contracts	0
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Cross Currency Interest Rate Contract [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Foreign currency exchange contracts	0
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | US Treasury Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available for sale securities	0
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Corporate Debt Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available for sale securities	0
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Time Deposits [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available for sale securities	0
Fair Value, Measurements, Recurring [Member] | Significant Unobservable Inputs (Level 2) [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Waters 401(k) Restoration Plan assets	0
Total	190,781	7,287
Contingent consideration	0
Total	20,271	45,181
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	208	836
Foreign currency exchange contracts	241	185
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]
Foreign currency exchange contracts	20,030	44,996
Fair Value, Measurements, Recurring [Member] | Significant Unobservable Inputs (Level 2) [Member] | US Treasury Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available for sale securities	12,061
Fair Value, Measurements, Recurring [Member] | Significant Unobservable Inputs (Level 2) [Member] | Corporate Debt Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available for sale securities	119,800
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	58,712	6,451
Fair Value, Measurements, Recurring [Member] | Significant Unobservable Inputs (Level 3) [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Waters 401(k) Restoration Plan assets	0
Total	0
Contingent consideration	1,225	1,185
Total	1,225	$ 1,185
Fair Value, Measurements, Recurring [Member] | Significant Unobservable Inputs (Level 3) [Member] | Foreign Currency Exchange Contract [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value, derivative asset	0
Foreign currency exchange contracts	0
Fair Value, Measurements, Recurring [Member] | Significant Unobservable Inputs (Level 3) [Member] | Cross Currency Interest Rate Contract [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Foreign currency exchange contracts	0
Fair Value, Measurements, Recurring [Member] | Significant Unobservable Inputs (Level 3) [Member] | US Treasury Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available for sale securities	0
Fair Value, Measurements, Recurring [Member] | Significant Unobservable Inputs (Level 3) [Member] | Corporate Debt Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available for sale securities	0
Fair Value, Measurements, Recurring [Member] | Significant Unobservable Inputs (Level 3) [Member] | Time Deposits [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available for sale securities	$ 0

Basis of Presentation and Sum_7

Basis of Presentation and Summary of Significant Accounting Policies - Fair Value of Forward Foreign Exchange Contracts (Detail) - USD ($)	Apr. 03, 2021	Dec. 31, 2020
Foreign Currency Exchange Contract [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value, derivative asset	$ 208,000	$ 836,000
Fair value, derivative liability	241,000	185,000
Cross Currency Interest Rate Contract [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Notional value, derivative asset	520,000,000	520,000,000
Fair value, derivative liability	20,030,000	44,996,000
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	36,131,000	66,690,000
Fair value, derivative asset	208,000	836,000
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	25,423,000	20,000,000
Fair value, derivative liability	241,000	185,000
Other 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	520,000,000	560,000,000
Fair value, derivative asset	(20,030,000)	(44,996,000)
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	$ 23,751,000	$ 44,996,000

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
	Apr. 03, 2021	Mar. 28, 2020
Cost of Sales [Member] | Foreign Currency Exchange Contract [Member]
Derivative [Line Items]
Realized gains (losses) on closed contracts	$ 1,667	$ (2,981)
Unrealized (losses) gains on open contracts	(753)	1,325
Cumulative net pre-tax gains	914	(1,656)
Interest Income [Member] | Cross Currency Interest Rate Contract [Member]
Derivative [Line Items]
Interest earned	3,827	3,714
Stockholders' equity [Member] | Cross Currency Interest Rate Contract [Member]
Derivative [Line Items]
Unrealized (losses) gains on open contracts	$ 21,244	$ 5,522

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	3 Months Ended
	Apr. 03, 2021	Mar. 28, 2020
Movement in Standard Product Warranty Accrual [Roll Forward]
Balance at Beginning of Period	$ 10,950	$ 11,964
Accruals for Warranties	2,337	1,671
Settlements Made	(2,582)	(2,619)
Balance at End of Period	$ 10,705	$ 11,016

Revenue Recognition - Additiona

Revenue Recognition - Additional Information (Detail) - USD ($) $ in Millions	Apr. 03, 2021	Dec. 31, 2020
Other Long-Term Liabilities [Member]
Revenue Recognition [Line Items]
Deferred revenue and customer advances	$ 47	$ 42

Revenue Recognition - Summary o

Revenue Recognition - Summary of Activity of the Company's Deferred Revenue and Customer Advances (Detail) - USD ($) $ in Thousands	3 Months Ended
	Apr. 03, 2021	Mar. 28, 2020
Revenue Recognition and Deferred Revenue [Abstract]
Balance at the beginning of the period	$ 239,759	$ 213,695
Recognition of revenue included in balance at beginning of the period	(94,078)	(82,604)
Revenue deferred during the period, net of revenue recognized	182,384	138,430
Balance at the end of the period	$ 328,065	$ 269,521

Revenue Recognition - Schedule

Revenue Recognition - Schedule of Estimated Amount of Deferred Revenue and Customer Advances (Detail) - USD ($) $ in Thousands	Apr. 03, 2021	Dec. 31, 2020
Revenue Recognition [Line Items]
Deferred revenue and customer advances expected to be recognized	$ 280,848	$ 198,240
Deferred revenue and customer advances expected to be recognized	328,065
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2020-01-01
Revenue Recognition [Line Items]
Deferred revenue and customer advances expected to be recognized	$ 280,848
Deferred revenue and customer advances recognition period	0 years
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	$ 25,860
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	$ 21,357
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	Apr. 03, 2021	Dec. 31, 2020
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	$ 190,583	$ 6,451
Unrealized Gain	7
Unrealized Loss	(17)
Fair Value	190,573	6,451
US Treasury Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	12,061
Fair Value	12,061
Corporate Debt Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	119,810
Unrealized Gain	7
Unrealized Loss	(17)
Fair Value	119,800
Time Deposits [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	58,712	6,451
Fair Value	58,712	6,451
Cash Equivalents [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	64,590
Unrealized Gain	1
Unrealized Loss	(4)
Fair Value	64,587
Short-term Investments [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	125,993	6,451
Unrealized Gain	6
Unrealized Loss	(13)
Fair Value	$ 125,986	$ 6,451

Marketable Securities - Investm

Marketable Securities - Investments Classified By Contractual Maturity Date (Detail) - USD ($) $ in Thousands	Apr. 03, 2021	Dec. 31, 2020
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, Fair Value [Abstract]
Due in one year or less	$ 164,762	$ 6,451
Due after one year through three years	25,811
Total	$ 190,573	$ 6,451

Inventories - Inventory, Net of

Inventories - Inventory, Net of Reserves (Detail) - USD ($) $ in Thousands	Apr. 03, 2021	Dec. 31, 2020
Inventory, Net, Items Net of Reserve Alternative [Abstract]
Raw materials	$ 141,600	$ 133,490
Work in progress	21,689	18,678
Finished goods	164,678	152,113
Total inventories	$ 327,967	$ 304,281

Goodwill and Other Intangible_2

Goodwill and Other Intangibles - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended
	Apr. 03, 2021	Mar. 28, 2020	Dec. 31, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill	$ 438,139		$ 444,362
Goodwill foreign currency translation adjustments	6,000
Intangible assets, gross foreign currency translation adjustments	(27,000)
Intangible assets, accumulated amortization foreign currency translation adjustments	(19,000)
Amortization expense	15,000	$ 13,000
Future amortization expense, year 1	62,000
Future amortization expense, year 2	62,000
Future amortization expense, year 3	62,000
Future amortization expense, year 4	62,000
Future amortization expense, year 5	$ 62,000

Goodwill and Other Intangible_3

Goodwill and Other Intangibles - Schedule of Intangible Assets (Detail) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Apr. 03, 2021	Dec. 31, 2020
Finite Lived and Indefinite Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 873,946	$ 896,339
Accumulated Amortization	$ 633,093	$ 637,694
Weighted-Average Amortization Period	7 years	7 years
Trademarks [Member]
Finite Lived and Indefinite Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 9,680	$ 9,680
Software Development [Member]
Finite Lived and Indefinite Lived Intangible Assets [Line Items]
Gross Carrying Amount	563,157	584,452
Accumulated Amortization	$ 403,614	$ 409,847
Weighted-Average Amortization Period	5 years	5 years
Purchased Intangibles [Member]
Finite Lived and Indefinite Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 202,828	$ 205,585
Accumulated Amortization	$ 160,028	$ 160,342
Weighted-Average Amortization Period	11 years	11 years
Licensing Agreements [Member]
Finite Lived and Indefinite Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 5,960	$ 5,923
Accumulated Amortization	$ 5,773	$ 5,697
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	$ 92,321	$ 90,699
Accumulated Amortization	$ 63,678	$ 61,808
Weighted-Average Amortization Period	8 years	8 years

Debt - Additional Information (

Debt - Additional Information (Detail) - USD ($)	1 Months Ended	3 Months Ended
	Feb. 28, 2019	Apr. 03, 2021	Dec. 31, 2020	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		$ 1,603,090,000	$ 1,206,515,000
Call feature on debt instrument		In the event of a change in control (as defined in the note purchase agreement) of the Company, the Company may be required to prepay the Senior Notes at a price equal to 100% of the principal amount thereof, plus accrued and unpaid interest
Line of credit maximum borrowing capacity		$ 122,000,000	109,000,000
Cross Currency Interest Rate Contract [Member]
Debt Instrument [Line Items]
Notional value, derivative asset		$ 520,000,000	520,000,000
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		$ 1,500,000	1,400,000,000
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		$ 1,400,000,000	$ 1,000,000,000
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
Debt instrument percentage of the amount to be prepaid		10.00%
Debt instrument interest coverage ratio		3.50%
Debt instrument leverage ratio		3.50%
Credit Agreements and Unsecured Debt [Member]
Debt Instrument [Line Items]
Weighted-average interest rate		2.68%	2.92%
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
Senior Unsecured Notes [Member] | Prepayment Not Less Than Twenty Days But No More Than Sixty Days [Member]
Debt Instrument [Line Items]
Percentage of prepayemnt of aggregate principal amount of the secured senior notes		10.00%
Revolving Facility And Term Loan [Member] | Notes Payable to Banks [Member]
Debt Instrument [Line Items]
Long term debt gross		$ 300,000,000	$ 400,000,000

Debt - Summary of Senior Unsecu

Debt - Summary of Senior Unsecured Notes Issued (Detail) - USD ($) $ in Millions	3 Months Ended
	Apr. 03, 2021	Dec. 31, 2020
Series N [Member]
Debt Instrument [Line Items]
Term	5 years
Interest Rate	1.68%	1.68%
Face Value	$ 100
Maturity Date	Mar. 31, 2026
Series O [Member]
Debt Instrument [Line Items]
Term	10 years
Interest Rate	2.25%	2.25%
Face Value	$ 400
Maturity Date	Mar. 31, 2031

Debt - Summary of Outstanding D

Debt - Summary of Outstanding Debt (Detail) - USD ($) $ in Thousands		Apr. 03, 2021	Dec. 31, 2020
Debt Instrument [Line Items]
Total notes payable and debt, current		$ 100,000	$ 150,000
Unamortized debt issuance costs		(6,910)	(3,485)
Total long-term debt		1,603,090	1,206,515
Total debt		1,703,090	1,356,515
Credit Agreement [Member]
Debt Instrument [Line Items]
Long-term debt		300,000	400,000
Senior Unsecured Notes Series E [Member]
Debt Instrument [Line Items]
Total notes payable and debt, current			50,000
Senior Unsecured Notes Series F [Member]
Debt Instrument [Line Items]
Total notes payable and debt, current		100,000	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
Senior Unsecured Notes Series N [Member]
Debt Instrument [Line Items]
Long-term debt		100,000
Senior Unsecured Notes Series O [Member]
Debt Instrument [Line Items]
Long-term debt		$ 400,000
[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)	3 Months Ended	12 Months Ended
	Apr. 03, 2021	Dec. 31, 2020
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 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%
Senior Unsecured Notes Series N [Member]
Debt Instrument [Line Items]
Stated interest rate on debt instrument	1.68%	1.68%
Senior Unsecured Notes Series O [Member]
Debt Instrument [Line Items]
Stated interest rate on debt instrument	2.25%	2.25%

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended
	Apr. 03, 2021	Mar. 28, 2020
Income Taxes [Line Items]
Income tax holiday amount	$ 4	$ 2
Income tax holiday per share benefit	$ 0.06	$ 0.04
Effective income tax rate	14.80%	7.40%
Effective tax rate reconciliation restructuring charges		$ 4
Effective tax rate reconciliation restructuring charges, percentage		(7.10%)
Stock Based Compensation Tax Benefit [Member]
Income Taxes [Line Items]
Effect of stock-based compensation	$ 2	$ 2
Maximum [Member]
Income Taxes [Line Items]
Expected change in unrecognized tax benefits in the next twelve months	$ 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] | April Two Thousand And Twenty One To March Two Thousand And Twenty Six [Member] | New Contractual Arrangement [Member]
Income Taxes [Line Items]
Statutory tax rate	5.00%
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	3 Months Ended
	Apr. 03, 2021	Mar. 28, 2020
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]
Balance at the beginning of the period	$ 28,666	$ 27,790
Net reductions for lapse of statutes taken during the period	(95)	(101)
Net additions for tax positions taken during the current period	289	203
Balance at the end of the period	$ 28,860	$ 27,892

Stock-Based Compensation - Addi

Stock-Based Compensation - Additional Information (Detail) shares in Millions	3 Months Ended
	Apr. 03, 2021$ / 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	$ 315.98
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	$ 250.15
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
	Apr. 03, 2021	Mar. 28, 2020
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total stock-based compensation	$ 8,305	$ 9,196
Cost of Sales [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total stock-based compensation	633	570
Selling and Administrative Expenses [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total stock-based compensation	6,420	7,373
Research and Development Expenses [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total stock-based compensation	$ 1,252	$ 1,253

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 Units, shares in Thousands, $ in Thousands	3 Months Ended
	Apr. 03, 2021	Mar. 28, 2020
Options Issued and Significant Assumptions Used to Estimate Option Fair Values
Options issued	139	227
Fair value assumptions, risk free interest rate	0.80%	1.40%
Fair value assumptions, expected life in years	6 years	6 years
Fair value assumptions, expected volatility	33.10%	26.50%
Fair value assumptions, expected dividends	$ 0
Weighted-Average Exercise Price and Fair Value of Options on the Date of Grant
Weighted-average exercise price of options granted	$ 277.32	$ 216.08
Weighted-average grant date fair value of options granted	$ 91.63	$ 61.70

Stock-Based Compensation - Stoc

Stock-Based Compensation - Stock Options Outstanding Roll Forward (Detail) - Equity Option [Member] - $ / shares shares in Thousands	3 Months Ended
	Apr. 03, 2021	Mar. 28, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Outstanding at December 31, 2020	1,067
Granted	139	227
Exercised	(95)
Canceled	(125)
Outstanding at April 3, 2021	986
Weighted-average exercise price of options outstanding at beginning of period	$ 179.59
Weighted-average exercise price of options granted	277.32	$ 216.08
Weighted-average exercise price of options exercised	159.10
Weighted average exercise price of options canceled	183.98
Weighted-average exercise price of options outstanding at end of period	194.77
Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted-average exercise price of options outstanding at beginning of period	75.94
Weighted-average exercise price of options granted	250.15
Weighted-average exercise price of options exercised	99.22
Weighted average exercise price of options canceled	139.51
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	280.80
Weighted-average exercise price of options exercised	238.52
Weighted average exercise price of options canceled	224.37
Weighted-average exercise price of options outstanding at end of period	$ 266.05

Stock-Based Compensation - Rest

Stock-Based Compensation - Restricted Stock Units Unvested Roll Forward (Detail) - Restricted Stock Units (RSUs) [Member] shares in Thousands	3 Months Ended
	Apr. 03, 2021$ / 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	271
Shares, Granted | shares	76
Shares, Vested | shares	(80)
Shares, Forfeited | shares	(3)
Unvested Ending balance, Shares | shares	264
Weighted-average grant date fair value per share of shares unvested at beginning of period | $ / shares	$ 202
Weighted-average grant date fair value per share of shares granted | $ / shares	279.66
Weighted-average grant date fair value per share of shares vested | $ / shares	182.14
Weighted-average grant date fair value of shares forfeited | $ / shares	210.35
Weighted-average grant date fair value per share of shares unvested at end of period | $ / shares	$ 230.28

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, $ in Thousands	3 Months Ended
	Apr. 03, 2021	Mar. 28, 2020
Performance Stock Units Issued and Significant Assumptions Used to Estimate Fair Values
Shares granted	41	58
Fair value assumptions, risk free interest rate	0.20%	1.30%
Fair value assumptions, expected life in years	2 years 10 months 24 days	2 years 10 months 24 days
Fair value assumptions, expected volatility	38.70%	25.10%
Fair value assumptions, expected volatility of peer companies	34.70%	26.10%
Fair value assumptions, correlation coefficient	45.80%	36.60%
Fair value assumptions, expected dividends	$ 0

Stock-Based Compensation - Perf

Stock-Based Compensation - Performance Stock Units Unvested Roll Forward (Detail) - Performance Stock Unit Plan [Member] - $ / shares shares in Thousands	3 Months Ended
	Apr. 03, 2021	Mar. 28, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unvested Beginning balance, Shares	95
Shares Granted	41	58
Shares Vested	(5)
Shares Forfeited	(33)
Weighted-average grant date fair value per share of shares unvested at end of period	$ 266.25
Weighted-average grant date fair value per share of shares unvested at beginning of period	230.36
Weighted-average grant date fair value per share of shares granted	315.98
Weighted-average grant date fair value per share of shares vested	242.94
Weighted-average grant date fair value per share of shares forfeited	$ 228.24
Unvested Ending balance, Shares	98

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
	Apr. 03, 2021	Mar. 28, 2020
Earnings Per Share [Abstract]
Net income per basic common share, Net Income (Numerator)	$ 148,127	$ 53,562
Effect of dilutive stock option, restricted stock, performance stock unit and restricted stock unit securities, Net Income (Numerator)	0
Net income per diluted common share, Net Income (Numerator)	$ 148,127	$ 53,562
Net income per basic common share, Weighted-Average Shares (Denominator)	62,260	62,232
Effect of dilutive stock option, restricted stock, performance stock unit and restricted stock unit securities, Weighted-Average Shares (Denominator)	372	394
Net income per diluted common share, Weighted-Average Shares (Denominator)	62,632	62,626
Net income per basic common share, Per Share Amount	$ 2.38	$ 0.86
Effect of dilutive stock option, restricted stock, performance stock unit and restricted stock unit securities, Per Share Amount	(0.01)
Net income per diluted common share, Per Share Amount	$ 2.37	$ 0.86

Earnings Per Share - Additional

Earnings Per Share - Additional Information (Detail) - shares shares in Millions	3 Months Ended
	Apr. 03, 2021	Mar. 28, 2020
Earnings Per Share [Abstract]
Antidilutive securities excluded from computation of earnings per share	0.1	0.2

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Income - Schedule of Accumulated Other Comprehensive Income (Detail) - USD ($) $ in Thousands	3 Months Ended
	Apr. 03, 2021	Mar. 28, 2020
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance	$ 232,144	$ (216,281)
Other comprehensive income (loss), net of tax	6,737	(18,946)
Ending balance	230,962	$ (337,999)
Currency Translation [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance	(98,082)
Other comprehensive income (loss), net of tax	5,825
Ending balance	(92,257)
Unrealized Loss on Retirement Plans [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance	(19,861)
Other comprehensive income (loss), net of tax	922
Ending balance	(18,939)
Unrealized Gain (Loss) on Investments [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance	0
Other comprehensive income (loss), net of tax	(10)
Ending balance	(10)
Accumulated Other Comprehensive Loss [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance	(117,943)
Other comprehensive income (loss), net of tax	6,737
Ending balance	$ (111,206)

Retirement Plans - Additional I

Retirement Plans - Additional Information (Detail) $ in Millions	Apr. 03, 2021USD ($)
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
	Apr. 03, 2021	Mar. 28, 2020
United States [Member] | Retiree Healthcare Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Service cost	$ 233	$ 151
Interest cost	139	176
Expected return on plan assets	(255)	(219)
Net amortization: Prior service credit	(5)	(5)
Net amortization: Net actuarial loss	0
Net periodic pension cost	112	103
Non-U.S. Pension Plans [Member] | Pension Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Service cost	1,160	1,099
Interest cost	315	345
Expected return on plan assets	(466)	(456)
Net amortization: Prior service credit	(41)	(40)
Net amortization: Net actuarial loss	262	385
Net periodic pension cost	$ 1,230	$ 1,333

Business Segment Information -

Business Segment Information - Additional Information (Detail)	3 Months Ended
	Apr. 03, 2021Segment
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
	Apr. 03, 2021	Mar. 28, 2020
Disaggregation of Revenue [Line Items]
Total net sales	$ 608,545	$ 464,939
Waters Instrument Systems [Member]
Disaggregation of Revenue [Line Items]
Total net sales	216,072	142,829
Chemistry Consumables [Member]
Disaggregation of Revenue [Line Items]
Total net sales	118,974	97,245
TA Instrument Systems [Member]
Disaggregation of Revenue [Line Items]
Total net sales	46,976	34,109
Product [Member]
Disaggregation of Revenue [Line Items]
Total net sales	382,022	274,183
Waters Service [Member]
Disaggregation of Revenue [Line Items]
Total net sales	206,832	174,137
TA Service [Member]
Disaggregation of Revenue [Line Items]
Total net sales	19,691	16,619
Service [Member]
Disaggregation of Revenue [Line Items]
Total net sales	$ 226,523	$ 190,756

Business Segment Information _3

Business Segment Information - Summary of Geographic Sales Information (Detail) - USD ($) $ in Thousands	3 Months Ended
	Apr. 03, 2021	Mar. 28, 2020
Disaggregation of Revenue [Line Items]
Total net sales	$ 608,545	$ 464,939
China [Member]
Disaggregation of Revenue [Line Items]
Total net sales	102,919	47,231
Japan [Member]
Disaggregation of Revenue [Line Items]
Total net sales	50,296	45,089
Asia Other [Member]
Disaggregation of Revenue [Line Items]
Total net sales	76,327	66,760
Total Asia [Member]
Disaggregation of Revenue [Line Items]
Total net sales	229,542	159,080
United States [Member]
Disaggregation of Revenue [Line Items]
Total net sales	162,433	143,898
Americas Other [Member]
Disaggregation of Revenue [Line Items]
Total net sales	34,924	28,278
Total Americas [Member]
Disaggregation of Revenue [Line Items]
Total net sales	197,357	172,176
Europe [Member]
Disaggregation of Revenue [Line Items]
Total net sales	$ 181,646	$ 133,683

Business Segment Information _4

Business Segment Information - Summary of Net Sales by Customer Class (Detail) - USD ($) $ in Thousands	3 Months Ended
	Apr. 03, 2021	Mar. 28, 2020
Revenue, Major Customer [Line Items]
Total net sales	$ 608,545	$ 464,939
Pharmaceutical [Member]
Revenue, Major Customer [Line Items]
Total net sales	360,148	272,563
Industrial [Member]
Revenue, Major Customer [Line Items]
Total net sales	183,273	143,354
Academic and government [Member]
Revenue, Major Customer [Line Items]
Total net sales	$ 65,124	$ 49,022

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
	Apr. 03, 2021	Mar. 28, 2020
Disaggregation of Revenue [Line Items]
Total net sales	$ 608,545	$ 464,939
Chemistry Consumables [Member]
Disaggregation of Revenue [Line Items]
Total net sales	118,974	97,245
Service [Member]
Disaggregation of Revenue [Line Items]
Total net sales	226,523	190,756
Net Sales Recognized at a Point in Time: [Member]
Disaggregation of Revenue [Line Items]
Total net sales	461,309	341,925
Net Sales Recognized at a Point in Time: [Member] | Instrument Systems [Member]
Disaggregation of Revenue [Line Items]
Total net sales	263,048	176,938
Net Sales Recognized at a Point in Time: [Member] | Chemistry Consumables [Member]
Disaggregation of Revenue [Line Items]
Total net sales	118,974	97,245
Net Sales Recognized at a Point in Time: [Member] | Service [Member]
Disaggregation of Revenue [Line Items]
Total net sales	79,287	67,742
Net Sales Recognized Over Time: [Member] | Service [Member]
Disaggregation of Revenue [Line Items]
Total net sales	$ 147,236	$ 123,014

Recent Accounting Standard Ch_2

Recent Accounting Standard Changes and Developments - Additional Information (Detail) - USD ($) $ in Thousands	Apr. 03, 2021	Dec. 31, 2020	Mar. 28, 2020	Jan. 01, 2020	Dec. 31, 2019
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Stockholders' deficit	$ 230,962	$ 232,144	$ (337,999)		$ (216,281)
Cumulative Effect, Period of Adoption, Adjusted Balance [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Stockholders' deficit				$ (1,000)

Subsequent Events - Additional

Subsequent Events - Additional Information (Detail) $ in Millions	3 Months Ended
	Jul. 04, 2021USD ($)
Subsequent Event [Member]
Subsequent Event [Line Items]
Other Income	$ 10