Waters (WAT) 10-K 27 Feb 24 2023 FY Annual report Financial data

Cover Page

Cover Page - USD ($)	12 Months Ended
	Dec. 31, 2023	Feb. 23, 2024	Jun. 30, 2023
Cover [Abstract]
Document Type	10-K
Document Fiscal Period Focus	FY
Document Fiscal Year Focus	2023
Amendment Flag	false
Entity Interactive Data Current	Yes
Current Fiscal Year End Date	--12-31
Entity Central Index Key	0001000697
Document Annual Report	true
Document Transition Report	false
Document Period End Date	Dec. 31, 2023
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, par value $0.01 per share
Entity Common Stock, Shares Outstanding		59,202,626
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Public Float			$ 15,633,596,711
ICFR Auditor Attestation Flag	true
Auditor Name	PricewaterhouseCoopers LLP
Auditor Firm ID	238
Auditor Location	Boston, Massachusetts
Document Financial Statement Error Correction [Flag]	false

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Current assets:
Cash and cash equivalents	$ 395,076	$ 480,529
Investments	898	862
Accounts receivable, net	702,168	722,892
Inventories	516,236	455,710
Other current assets	138,489	103,910
Total current assets	1,752,867	1,763,903
Property, plant and equipment, net	639,073	582,217
Intangible assets, net	629,187	227,399
Goodwill	1,305,446	430,328
Operating lease assets	84,591	86,506
Other assets	215,690	191,100
Total assets	4,626,854	3,281,453
Current liabilities:
Notes payable and debt	50,000	50,000
Accounts payable	84,705	93,302
Accrued employee compensation	69,391	103,300
Deferred revenue and customer advances	256,675	227,908
Current operating lease liabilities	27,825	26,429
Accrued income taxes	120,257	132,545
Accrued warranty	12,050	11,949
Other current liabilities	168,677	140,304
Total current liabilities	789,580	785,737
Long-term liabilities:
Long-term debt	2,305,513	1,524,878
Long-term portion of retirement benefits	47,559	38,203
Long-term income tax liabilities	137,123	248,496
Long-term operating lease liabilities	58,926	62,108
Other long-term liabilities	137,812	117,543
Total long-term liabilities	2,686,933	1,991,228
Total liabilities	3,476,513	2,776,965
Commitments and contingencies (Notes 9, 10, 11, 12, 13 and 17 )
Stockholders' equity:
Preferred stock, par value $0.01 per share, 5,000 shares authorized, none issued at December 31, 2023 and December 31, 2022	0	0
Common stock, par value $0.01 per share, 400,000 shares authorized, 162,709 and 162,425 shares issued, 59,176 and 59,104 shares outstanding at December 31, 2023 and December 31, 2022, respectively	1,627	1,624
Additional paid-in capital	2,266,265	2,199,824
Retained earnings	9,150,821	8,508,587
Treasury stock, at cost, 103,533 and 103,321 shares at December 31, 2023 and December 31, 2022, respectively	(10,134,252)	(10,063,975)
Accumulated other comprehensive loss	(134,120)	(141,572)
Total stockholders' equity	1,150,341	504,488
Total liabilities and stockholders' equity	$ 4,626,854	$ 3,281,453

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Dec. 31, 2023	Dec. 31, 2022
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	162,709,000	162,425,000
Common stock, shares outstanding	59,176,000	59,104,000
Treasury stock, shares	103,533,000	103,321,000

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Revenues:
Total net sales	$ 2,956,416	$ 2,971,956	$ 2,785,874
Costs and operating expenses:
Costs and operating expenses	1,195,223	1,248,182
Selling and administrative expenses	736,014	658,026	626,968
Research and development expenses	174,945	176,190	168,358
Purchased intangibles amortization	32,558	6,366	7,143
Litigation provision	0	0	5,165
Acquired in-process research and development	0	9,797
Total costs and operating expenses	2,138,740	2,098,561	1,964,167
Operating income	817,676	873,395	821,707
Other income, net	807	2,228	17,203
Interest expense	(98,861)	(48,797)	(44,938)
Interest income	16,621	11,020	12,221
Income before income taxes	736,243	837,846	806,193
Provision for income taxes	94,009	130,091	113,350
Net income	$ 642,234	$ 707,755	$ 692,843
Net income per basic common share	$ 10.87	$ 11.8	$ 11.25
Weighted-average number of basic common shares	59,076	59,985	61,575
Net income per diluted common share	$ 10.84	$ 11.73	$ 11.17
Weighted-average number of diluted common shares and equivalents	59,270	60,331	62,028
Product [Member]
Revenues:
Total net sales	$ 1,903,050	$ 1,988,169	$ 1,822,070
Costs and operating expenses:
Costs and operating expenses	766,374	836,209	752,514
Service [Member]
Revenues:
Total net sales	1,053,366	983,787	963,804
Costs and operating expenses:
Costs and operating expenses	$ 428,849	$ 411,973	$ 404,019

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Statement of Comprehensive Income [Abstract]
Net income	$ 642,234	$ 707,755	$ 692,843
Other comprehensive income (loss):
Foreign currency translation	17,761	(46,135)	(1,903)
Unrealized losses on derivative instruments before reclassifications	(2,648)	0	0
Amounts reclassified to interest income	(326)	0	0
Unrealized losses on derivative instruments before income taxes	(2,974)	0	0
Income tax benefit	714	0	0
Unrealized losses on derivative instruments, net of tax	(2,260)	0	0
Unrealized gains (losses) on investments before income taxes	0	26	(26)
Income tax (expense) benefit	0	(6)	6
Unrealized gains (losses) on investments, net of tax	0	20	(20)
Retirement liability adjustment before reclassifications	(10,153)	20,953	9,342
Amounts reclassified to other income, net	(98)	574	1,167
Retirement liability adjustment before income taxes	(10,251)	21,527	10,509
Income tax benefit (expense)	2,202	(5,119)	(2,508)
Retirement liability adjustment, net of tax	(8,049)	16,408	8,001
Other comprehensive income (loss)	7,452	(29,707)	6,078
Comprehensive income	$ 649,686	$ 678,048	$ 698,921

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Cash flows from operating activities:
Net income	$ 642,234	$ 707,755	$ 692,843
Adjustments to reconcile net income to net cash provided by operating activities:
Stock-based compensation	36,868	42,564	29,918
Deferred income taxes	(1,197)	(31,988)	16,633
Depreciation	84,625	71,998	71,560
Amortization of intangibles	81,280	58,425	60,120
Observable unrealized gain on investment	0	0	(9,707)
Realized gain on sale of investment	(742)	0	0
In-process research and development and other non-cash charges	0	10,003	0
Change in operating assets and liabilities, net of acquisitions:
Decrease (increase) in accounts receivable	49,179	(137,874)	(62,448)
Increase in inventories	(45,443)	(101,902)	(67,250)
Increase in other current assets	(43,164)	(23,074)	(20,765)
(Increase) decrease in other assets	(26,264)	(5,514)	4,490
(Decrease) increase in accounts payable and other current liabilities	(79,524)	60,984	46,110
Increase in deferred revenue and customer advances	10,433	12,862	37,845
Decrease in other liabilities	(105,476)	(52,578)	(52,075)
Net cash provided by operating activities	602,809	611,661	747,274
Cash flows from investing activities:
Additions to property, plant, equipment and software capitalization	(160,632)	(175,921)	(161,266)
Asset and business acquisitions, net of cash acquired	(1,282,354)	0	0
Proceeds from (investments in) equity investments, net	742	8,903	(1,788)
Payments for intellectual property licenses	0	(7,535)	(7,000)
Purchases of investments	(1,791)	(11,407)	(279,660)
Maturities and sales of investments	1,770	77,993	218,084
Net cash used in investing activities	(1,442,265)	(107,967)	(231,630)
Cash flows from financing activities:
Proceeds from debt issuances	1,450,040	205,000	510,000
Payments on debt	(670,040)	(145,000)	(350,000)
Payments of debt issuance costs	(400)	0	(8,537)
Proceeds from stock plans	29,792	42,801	55,643
Purchases of treasury shares	(70,277)	(626,061)	(648,930)
Proceeds from derivative contracts	15,836	13,627	3,549
Net cash provided by (used in) financing activities	754,951	(509,633)	(438,275)
Effect of exchange rate changes on cash and cash equivalents	(948)	(14,766)	(12,830)
(Decrease) increase in cash and cash equivalents	(85,453)	(20,705)	64,539
Cash and cash equivalents at beginning of period	480,529	501,234	436,695
Cash and cash equivalents at end of period	395,076	480,529	501,234
Supplemental cash flow information:
Income taxes paid	243,316	160,082	153,504
Interest paid	$ 94,099	$ 48,083	$ 42,408

CONSOLIDATED STATEMENTS OF STOC

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY - USD ($) shares in Thousands, $ in Thousands	Total	Common Stock [Member]	Additional Paid-In Capital [Member]	Retained Earnings [Member]	Treasury Stock [Member]	Accumulated Other Comprehensive Loss [Member]
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	692,843			692,843
Other comprehensive income (loss)	6,078					6,078
Issuance of common stock for Employee Stock Purchase Plan	9,578		9,578
Issuance of common stock for Employee Stock Purchase Plan, shares		40
Issuance of common stock for stock options exercised	46,065	$ 3	46,062
Issuance of common stock for stock options exercised, shares		282
Treasury stock	(648,930)				(648,930)
Stock-based compensation	29,776	$ 1	29,775
Stock-based compensation, shares		96
Ending balance at Dec. 31, 2021	367,554	$ 1,621	2,114,880	7,800,832	(9,437,914)	(111,865)
Ending Balance, shares at Dec. 31, 2021		162,084
Net income	707,755			707,755
Other comprehensive income (loss)	(29,707)					(29,707)
Issuance of common stock for Employee Stock Purchase Plan	10,952		10,952
Issuance of common stock for Employee Stock Purchase Plan, shares		37
Issuance of common stock for stock options exercised	31,678	$ 2	31,676
Issuance of common stock for stock options exercised, shares		192
Treasury stock	(626,061)				(626,061)
Stock-based compensation	42,317	$ 1	42,316
Stock-based compensation, shares		112
Ending balance at Dec. 31, 2022	504,488	$ 1,624	2,199,824	8,508,587	(10,063,975)	(141,572)
Ending Balance, shares at Dec. 31, 2022		162,425
Net income	642,234			642,234
Other comprehensive income (loss)	7,452					7,452
Issuance of common stock for Employee Stock Purchase Plan	11,124		11,124
Issuance of common stock for Employee Stock Purchase Plan, shares		41
Issuance of common stock for stock options exercised	17,636	$ 1	17,635
Issuance of common stock for stock options exercised, shares		100
Treasury stock	(70,277)				(70,277)
Stock-based compensation	37,684	$ 2	37,682
Stock-based compensation, shares		143
Ending balance at Dec. 31, 2023	$ 1,150,341	$ 1,627	$ 2,266,265	$ 9,150,821	$ (10,134,252)	$ (134,120)
Ending Balance, shares at Dec. 31, 2023		162,709

Description of Business and Org

Description of Business and Organization	12 Months Ended
	Dec. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Description of Business and Organization	1 Description of Business and Organization Waters Corporation (the “Company,” “we,” “our,” or “us”), a global leader in analytical instruments and software, has pioneered innovations in chromatography, mass spectrometry and thermal analysis serving life, materials and food sciences for more than 65 years. The Company primarily designs, manufactures, sells and services high-performance liquid chromatography (“HPLC”), ultra-performance liquid chromatography (“UPLC” and together with HPLC, referred to as “LC”) and mass spectrometry (“MS”) technology systems and support products, including chromatography columns, other consumable products and comprehensive post-warranty service plans. These systems are complementary products that are frequently employed together (“LC-MS”) LC-MS On May 16, 2023, the Company completed the acquisition of Wyatt Technology, LLC and its three operating subsidiaries, Wyatt Technology Europe GmbH, Wyatt Technology France and Wyatt Technology UK Ltd. (collectively, “Wyatt”), for a total purchase price of $1.3 billion in cash. Wyatt is a pioneer in innovative light scattering and field-flow fractionation instruments, software, accessories and services. The acquisition will expand Waters’ portfolio and increase exposure to large molecule applications. The Company financed this transaction with a combination of cash on its balance sheet and borrowings under its revolving credit facility.

Basis of Presentation and Summa

Basis of Presentation and Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2023
Accounting Policies [Abstract]
Basis of Presentation and Summary of Significant Accounting Policies	2 Basis of Presentation and Summary of Significant Accounting Policies Use of Estimates The preparation of consolidated financial statements in conformity with generally accepted accounting principles (“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. On an ongoing basis, the Company evaluates its estimates, including those related to revenue recognition, goodwill and intangible assets, income taxes, litigation and inventory valuation. The Company bases its estimates on historical experience and on various other assumptions that are believed to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities that are not readily apparent from other sources. Actual amounts may differ from these estimates under different assumptions or conditions. 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. Principles of Consolidation The consolidated financial statements include the accounts of the Company and its subsidiaries, which are wholly owned. The Company consolidates entities in which it owns or controls 50% or more of the voting shares. All inter-company balances and transactions have been eliminated. 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 loss in the consolidated balance sheets. The Company’s net sales derived from operations outside the United States were 69%, 70% and 72% in 2023, 2022 and 2021, respectively. Gains and losses from foreign currency transactions are included primarily in cost of sales in the consolidated statements of operations. In 2023, 2022 and 2021, foreign currency transactions resulted in net losses of $16 million, $31 million and $5 million, respectively. Seasonality of Business The Company typically experiences seasonality in its orders that is reflected as an increase in sales in the fourth quarter, as a result of purchasing habits for capital goods of customers that tend to exhaust their spending budgets by calendar year-end. Cash, Cash Equivalents and Investments Cash equivalents represent highly liquid investments, with original maturities of 90 days or less, primarily in bank deposits, U.S. treasury bill money market funds and commercial paper. Investments with longer maturities are classified as investments, and are held primarily in U.S. treasury bills, U.S. dollar-denominated treasury bills and commercial paper, bank deposits and corporate debt securities. Investments are classified as available-for-sale (“AFS”) debt securities. If the AFS debt security’s fair value exceeds the security’s amortized cost the unrealized gain is recognized in accumulated other comprehensive loss in stockholders’ equity (deficit), net of the related tax effects. If the AFS debt security’s fair value declines below its amortized cost the Company considers all available evidence to evaluate the extent to which the decline is due to credit-related factors or noncredit-related factors. If the decline is due to noncredit-related factors then no credit loss is recorded and the unrealized loss is recognized in accumulated other comprehensive income in stockholders’ equity, net of the related tax effects. If the decline is considered to be a credit-related impairment, it is recognized as an allowance on the consolidated balance sheet with a corresponding charge to the statement of operations. The credit allowance is limited to the difference between the fair value and the amortized cost basis. No credit-related allowances or impairments have been recognized on the Company’s investments in available-for-sale debt securities. The Company classifies its investments exclusive of those categorized as cash equivalents. 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 December 31, 2023 and 2022, $321 million out of $396 million and $472 million out of $481 million, respectively, of the Company’s total cash, cash equivalents and investments were held by foreign subsidiaries. In addition, $233 million out of $396 million and $336 million out of $481 million of cash, cash equivalents and investments were held in currencies other than the U.S. dollar at December 31, 2023 and 2022, 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 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 twelve months ended December 31, 2023, 2022 and 2021 (in thousands): Balance at Additions Deductions Balance at End of Period Allowance for Credit Losses December 31, 2023 $ 14,311 $ 8,120 $ (3,096 ) $ 19,335 December 31, 2022 $ 13,228 $ 6,509 $ (5,426 ) $ 14,311 December 31, 2021 $ 14,381 $ 5,380 $ (6,533 ) $ 13,228 Concentration of Credit Risk The Company sells its products and services to a significant number of large and small customers throughout the world, with net sales to the pharmaceutical industry of approximately 57%, 59% and 60% in 2023, 2022 and 2021, respectively. None of the Company’s individual customers accounted for more than 2% of annual Company sales in 2023, 2022 or 2021. The Company performs continuing credit evaluations of its customers and generally does not require collateral, but in certain circumstances may require letters of credit or deposits. Historically, the Company has not experienced significant credit losses. Inventory The Company values all of its inventories at the lower of cost or net realizable value on a first-in, first-out Income Taxes As part of the process of preparing the consolidated financial statements, the Company is required to estimate its income taxes in each of the jurisdictions in which it operates. This process involves the Company estimating its income taxes, taking into account the amount, timing and character of taxable income, tax deductions and credits and assessing changes in tax laws, regulations, agreements and treaties. Differing treatment of items for tax and accounting purposes, such as depreciation, amortization and inventory reserves, result in deferred tax assets and liabilities, which are included within the consolidated balance sheets. In the event that actual results differ from these estimates, or the Company adjusts these estimates in future periods, such changes could materially impact the Company’s financial position and results of operations. The accounting standards for income taxes require that a company continually evaluate the necessity of establishing or changing a valuation allowance for deferred tax assets depending on whether it is more likely than not that the actual benefit of those assets will be realized in future periods. 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 positions on the presumption that all concerned tax authorities possess full knowledge of those tax positions, as well as all of the pertinent facts and circumstances, but prohibit any discounting of unrecognized tax benefits associated with those positions for the time value of money. The Company classified interest and penalties related to unrecognized tax benefits as a component of the provision for income taxes. Leases The Company’s lease portfolio consists primarily of operating leases. The Company’s operating leases consist of property leases for sales, demonstration, laboratory, warehouse and office spaces, automotive leases for sales and service personnel and equipment leases, primarily used in our manufacturing and distribution operations. The Company categorizes leases as either operating or finance leases at the commencement date of the lease. The Company does not have any material financing leases. The Company makes variable lease payments that do not depend on a rate or index, primarily for items such as real estate taxes and other expenses. These expenses are recorded as variable costs in the period incurred. For the years ended December 31, 2023, 2022 and 2021, variable costs incurred were not material. The Company’s lease agreements may include tenant improvement allowances, rent holidays, and/or contingent rent provisions as well as a certain number of these leases contain rental escalation clauses that are either fixed or adjusted periodically for inflation of market rates which are factored into our determination of lease payments at lease inception. The Company’s leases also sometimes include renewal options and/or termination options which are included in the determination of the lease term when they are reasonably certain to be exercised. The Company has lease agreements which contain lease and non-lease For leases with terms greater than 12 months, the Company records a right-of-use straight-line basis over the term of the lease. For the years ended December 31, 2023, 2022 and 2021, costs incurred related to short-term leases were not material. When available, the Company uses the rate implicit in the lease to discount lease payments to determine the present value of the lease liabilities; however, most of the leases do not provide a readily determinable implicit rate and, as required by the accounting guidance, the Company estimates its incremental secured borrowing rate to discount the lease payments based on information available at lease commencement (or, for the leases in existence on the adoption date, the January 1, 2019 information). The Company’s incremental borrowing rate reflects the estimated rate of interest that the Company would pay to borrow on a collateralized basis over a similar term to the lease payments in a similar economic environment. Property, Plant and Equipment Property, plant and equipment are recorded at cost. Expenditures for maintenance and repairs are charged to expense, while the costs of significant improvements are capitalized. Depreciation is provided using the straight-line method over the following estimated useful lives: buildings — fifteen thirty-nine five Asset Impairments The Company reviews its long-lived assets for impairment in accordance with the accounting standards for property, plant and equipment. Whenever events or circumstances indicate that the carrying amount of an asset may not be recoverable, the Company evaluates the recoverability of the carrying value of the asset based on the expected future cash flows, relying on a number of factors, including, but not limited to, operating results, business plans, economic projections and anticipated future cash flows. If the asset is deemed not recoverable, it is written down to fair value and the impairment is recorded in the consolidated statements of operations. During 2022, the Company recorded a total non-cash Business Combinations and Asset Acquisitions The Company accounts for business acquisitions under the accounting standards for business combinations. The results of each acquisition are included in the Company’s consolidated results as of the acquisition date and the purchase price of an acquisition is allocated to tangible and intangible assets and assumed liabilities based on their estimated fair values. Any excess of the fair value consideration transferred over the estimated fair values of the net assets acquired is recognized as goodwill. We use assumptions and estimates in determining the fair value of assets acquired and liabilities assumed. The determination of the fair value of intangible assets, which represents a significant portion of the purchase price in our recent acquisition of Wyatt, requires the use of significant judgment with regard to (i) the fair value; and (ii) whether such intangibles are amortizable or non-amortizable as In our recent acquisition of Wyatt, customer relationship intangible assets have been the most significant identifiable assets acquired. The customer relationships were valued using the multi-period excess earnings method under the income approach. Our cash Goodwill and Other Intangible Assets Goodwill and indefinite-lived intangible assets are not amortized, but are evaluated for impairment on an annual basis, or on an interim basis when events or changes in circumstances indicate that the carrying value may not be recoverable. In assessing the recoverability of goodwill and indefinite-lived intangible assets, we must make assumptions regarding the estimated future cash flows, including forecasted revenue growth and the discount rate to determine the fair value of these assets. If these estimates or their related assumptions change in the future, we may be required to record impairment charges against these assets in the reporting period in which the impairment is determined. We test goodwill for impairment at the reporting unit level, which is the operating segment or one level below an operating segment. We have the option of performing a qualitative assessment to determine whether further impairment testing is necessary before performing the quantitative assessment. If as a result of the qualitative assessment, it is more-likely-than-not two The Company’s intangible assets include purchased technology; capitalized software; costs associated with acquiring Company patents, trademarks and intellectual properties, such as licenses; and acquired IPR&D. Purchased intangibles are recorded at their fair market values as of the acquisition date and amortized over their estimated useful lives, ranging from one one Goodwill totaled $1.3 billion and $430 million as of December 31, 2023 and 2022, respectively. Net intangible assets and long-lived assets amounted to $629 million and $639 million, as of December 31, 2023, respectively, and $227 million and $582 million as of December 31, 2022, respectively. Software Development Costs The Company capitalizes internal and external software development costs for products offered for sale in accordance with the accounting standards for the costs of software to be sold, leased, or otherwise marketed. Capitalized costs are amortized to cost of sales over the period of economic benefit, which approximates a straight-line basis over the estimated useful lives of the related software products, generally three The Company capitalized $ million, $ million and $ million of direct expenses that were related to the development of software in 2023, 2022 and 2021, respectively. Net capitalized software included in intangible assets totaled $ million and $ million at December 31, 2023 and 2022, respectively. See Note 8, Goodwill and Other Intangibles. The Company capitalizes software development costs for internal use. Capitalized internal software development costs are amortized over the period of economic benefit, which approximates a straight-line basis over . Net capitalized internal software included in property, plant and equipment totaled $ million and $ million at December 31, 2023 and 2022, respectively. Other Investments The Company accounts for its investments that represent less than twenty percent ownership, and for which the Company does not have the ability to exercise significant influence, using the accounting standards for investments in equity securities. Investments for which the Company does not have the ability to exercise significant influence, and for which there is not a readily determinable market value, are accounted for at cost, adjusted for subsequent observable price changes as applicable. The Company periodically evaluates the carrying value of its investments for which the Company does not have the ability to exercise significant influence, and for which there is not a readily determinable fair value and carries them at cost, less impairment, adjusted for subsequent observable price changes. For equity investments in which the Company has the ability to exercise significant influence over operating and financial policies of the investee, the equity method of accounting is used. The Company’s share of net income or losses of equity method investments is included in the consolidated statements of operations and was not material in any period presented. During the year ended 2023, the Company received $1 million in proceeds from, and made no investments in, unaffiliated companies. During the year ended December 31, 2022 the Company received $10 million in proceeds from unaf f In 2022, the Company recorded a realized gain of $7 million in other income (expense), net in the consolidated statement of operations due to the sales of various equity investments as well as incurring $6 million in impairment losses. The Company also recognized an additional $2 million non-cash In 2021, the Company recorded an unrealized gain of $10 million due to an observable change in the fair value of an existing investment the Company does not have the ability to exercise significant influence over. 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 December 31, 2023 and 2022. 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 December 31, 2023 (in thousands): Total at Quoted Prices Significant Significant Assets: Time deposits $ 898 $ —  $ 898 $ —  Waters 401(k) Restoration Plan assets 28,995 28,995 —  —  Foreign currency exchange contracts 183 —  183 —  Interest rate cross-currency swap agreements 4,835 —  4,835 —  Total $ 34,911 $ 28,995 $ 5,916 $ —  Liabilities: Foreign currency exchange contracts $ 207 $ —  $ 207 $ —  Interest rate cross-currency swap agreements 13,384 —  13,384 —  Interest rate swap cash flow hedge 2,974 —  2,974 —  Total $ 16,565 $ —  $ 16,565 $ —  The following table represents the Company’s assets and liabilities measured at fair value on a recurring basis at December 31, 2022 (in thousands): Total at Quoted Prices Significant Significant Assets: Time deposits $ 862 $ —  $ 862 $ —  Waters 401(k) Restoration Plan assets 25,532 25,532 —  —  Foreign currency exchange contracts 231 —  231 —  Interest rate cross-currency swap agreements 19,163 —  19,163 —  Total $ 45,788 $ 25,532 $ 20,256 $ —  Liabilities: Contingent consideration $ 1,509 $ —  $ —  $ 1,509 Foreign currency exchange contracts 98 —  98 —  Interest rate cross-currency swap agreements 4,783 —  4,783 —  Total $ 6,390 $ —  $ 4,881 $ 1,509 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, Interest Rate Cross-Currency Swaps Agreements and Interest Rate Swap Cash Flow Hedges The fair values of the Company’s cash equivalents, investments, foreign currency exchange contracts, interest rate cross-currency swap agreements and interest rate swap cash flow hedges 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 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. Fair Value of Other Financial Instruments The Company’s accounts receivable and accounts payable are recorded at cost, which approximates fair value due to their short-term nature. The carrying value of the Company’s variable interest rate debt approximates fair value due to the variable nature of the interest rate. The carrying value of the Company’s fixed interest rate debt was $1.3 billion at both December 31, 2023 and 2022. 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 $1.2 billion and $1.1 billion at December 31, 2023 and 2022, 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 and yen-denominated 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 Cash Flow Hedges The Company’s Credit Facility is a variable borrowing and has interest payments based on a contractually specified interest rate index. The contractually specified index on the Credit Facility is the 3-month lock-in de-designated Interest Rate Cross-Currency Swap Agreements As of December 31, 2023, the Company had entered into interest rate cross-currency swap derivative agreements with durations up to three years with an aggregate notional value of $ million to hedge the variability in the movement of foreign currency exchange rates on a portion of its euro-denominated and yen-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 other comprehensive loss in stockholders’ equity 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, interest rate cross-currency swap agreements and December 31, 2023 December 31, 2022 Notional Value Fair Value Notional Value Fair Value Foreign currency exchange contracts: Other current assets $ 24,155 $ 183 $ 42,047 $ 231 Other current liabilities $ 16,000 $ 207 $ 13,450 $ 98 Interest rate cross-currency swap agreements: Other assets $ 220,000 $ 4,835 $ 400,000 $ 19,163 Other liabilities $ 405,000 $ 13,384 $ 185,000 $ 4,783 Accumulated other comprehensive (loss) income $ (7,975 ) $ 10,026 Interest rate swap cash flow hedges: Other liabilities $ 100,000 $ 2,974 $ —  $ —  Accumulated other comprehensive (loss) income $ (2,974 ) $ —  The following is a summary of the activity included in the consolidated statements of operations and statements of comprehensive income related to the foreign currency exchange contracts, interest rate cross-currency swap agreements and interest rate swap agreements designated as cash flow hedges (in thousands): Financial Statement Classification Year Ended December 31, 2023 2022 2021 Foreign currency exchange contracts: Realized gains (losses) on closed contracts Cost of sales $ 224 $ (3,855 ) $ (1,973 ) Unrealized losses on open contracts Cost of sales (156 ) (176 ) (343 ) Cumulative net pre-tax Cost of sales $ 68 $ (4,031 ) $ (2,316 ) Interest rate cross-currency swap agreements: Interest earned Interest income $ 10,974 $ 8,872 $ 11,084 Unrealized (losses) gains on open contracts Accumulated other comprehensive loss $ (18,001 ) $ 25,969 $ 29,052 Interest rate swap cash flow hedges: Interest earned Interest income $ 326 $ —  $ —  Unrealized losses on open contracts Accumulated other comprehensive loss $ (2,974 ) $ —  $ —  Stockholders’ Equity In December 2023, the Company’s Board of Directors authorized the extension of the existing share repurchase program through January 21, 2025. The Company’s remaining authorization is $ 1.0 b Revenue Recognition The Company recognizes revenue upon transfer of control of promised products and services to customers in an amount that reflects the consideration the Company expects to receive in exchange for those products or services. The Company generally enters into contracts that include a combination of products and services. Revenue is allocated to distinct performance obligations and is recognized net of allowances for returns and discounts. The Company recognizes revenue on product sales at the time control of the product transfers to the customer. Certain of the Company’s customers have terms where control of the product transfers to the customer on shipment, while others have terms where control transfers to the customer on delivery. All incremental costs of obtaining a contract are expensed as and when incurred if the expected amortization period of the asset that would have been recognized is one year or less. Shipping and handling costs are included as a component of cost of sales. In situations where the control of the goods transfers prior to the completion of the Company’s obligation to ship the products to its customers, the Company has elected the practical expedient to account for the shipping services as a fulfillment cost. Accordingly, such costs are recognized when control of the related goods is transferred to the customer. In more rare situations, the Company has revenue associated with products that contain specific customer acceptance criteria and the related revenue is not recognized before the customer acceptance criteria are satisfied. The Company elected to exclude from the measurement of the transaction price all taxes assessed by a governmental authority that are both imposed on and concurrent with specific revenue-producing transactions and collected by the Company from a customer. Generally, the Company’s contracts for products include a performance obligation related to installation. The Company has determined that the installation represents a distinct performance obligation and revenue is recognized separately upon the completion of installation. The Company determines the amount of the transaction price to allocate to the installation service based on the standalone selling price of the product and the service, which requires judgment. The Company determines the relative standalone selling price of installation based upon a number of factors, including hourly service billing rates and estimated installation hours. In developing these estimates, the Company considers past history, competition, billing rates of current services and other factors. The Company has sales from standalone software, which are included in product revenue. These arrangements typically include software licenses and maintenance contracts, both of which the Company has determined are distinct performance obligations. The Company determines the amount of the transaction price to allocate to the license and maintenance contract based on the relative standalone selling price of each performance obligation. Software license revenue is recognized at the point in time when control has been transferred to the customer. The revenue allocated to the software maintenance contract is recognized on a straight-line basis over the maintenance period, which is the contractual term of the contract, as a time-based measure of progress best reflects the Company’s performance in satisfying this obligation. Unspecified rights to software upgrades a

Revenue Recognition

Revenue Recognition	12 Months Ended
	Dec. 31, 2023
Revenue from Contract with Customer [Abstract]
Revenue Recognition	3 Revenue Recognition The Company’s deferred revenue liabilities in 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 twelve months ended December 31, 2023, 2022 and 2021 (in thousands): December 31, 2023 2022 2021 Balance at the beginning of the period $ 285,175 $ 273,598 $ 239,759 Recognition of revenue included in balance at beginning of the period (240,808 ) (230,615 ) (216,920 ) Revenue deferred during the period, net of revenue recognized 279,149 242,192 250,759 Balance at the end of the period $ 323,516 $ 285,175 $ 273,598 The Company classified $67 million and $57 million of deferred revenue and customer advances in other long-term liabilities at December 31, 2023 and 2022, 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): December 31, 2023 Deferred revenue and customer advances expected to be recognized in: One year or less $ 256,675 13-24 39,326 25 months and beyond 27,515 Total $ 323,516

Marketable Securities

Marketable Securities	12 Months Ended
	Dec. 31, 2023
Investments, Debt and Equity Securities [Abstract]
Marketable Securities	4 Marketable Securities The Company’s marketable securities within cash equivalents and investments included in the consolidated balance sheets consist of time deposits that mature in one year or less with an amortized cost and a fair value of $0.9 million at both December 31, 2023 and 2022.

Inventories

Inventories	12 Months Ended
	Dec. 31, 2023
Inventory Disclosure [Abstract]
Inventories	5 Inventories Inventories are classified as follows (in thousands): December 31, 2023 December 31, 2022 Raw materials $ 233,952 $ 205,760 Work in progress 20,198 19,899 Finished goods 262,086 230,051 Total inventories $ 516,236 $ 455,710 During 2023, 2022 and 2021, the Company recorded inventory-related excess and obsolescence provisions of $11 million, $14 million and $9 million, respectively.

Property, Plant and Equipment

Property, Plant and Equipment	12 Months Ended
	Dec. 31, 2023
Property, Plant and Equipment [Abstract]
Property, Plant and Equipment	6 Property, Plant and Equipment Property, plant and equipment consist of the following (in thousands): December 31, 2023 2022 Land and land improvements $ 35,635 $ 34,663 Buildings and leasehold improvements 488,667 444,994 Production and other equipment 748,411 640,460 Construction in progress 118,492 164,222 Total property, plant and equipment 1,391,205 1,284,339 Less: accumulated depreciation and amortization (752,132 ) (702,122 ) Property, plant and equipment, net $ 639,073 $ 582,217 During 2023, 2022 and 2021, the Company retired and disposed of approximately $48 million, $24 million and $23 million of property, plant and equipment, respectively, most of which was fully depreciated and no longer in use. Gains or losses on disposals were immaterial for the years ended December 31, 2023, 2022 and 2021.

Acquisitions

Acquisitions	12 Months Ended
	Dec. 31, 2023
Business Combinations [Abstract]
Acquisitions	7 Acquisitions On May 16, 2023, the Company acquired all of the issued and outstanding equity interests of Wyatt for $1.3 billion, net of cash acquired. Wyatt is a pioneer in innovative light scattering and field-flow fractionation instruments, software, accessories and services. The acquisition will expand Waters portfolio and increase exposure to large molecule applications. As a result of the acquisition, the results of Wyatt are included in the Company’s consolidated financial statements from the acquisition date. The Company allocated the purchase price of the acquisition to identifiable assets acquired and liabilities assumed based on their estimated fair values as of the acquisition date. The purchase price allocation was based upon preliminary information and is subject to change if additional information about the facts and circumstances that existed at the acquisition date becomes available. The Company is in the ongoing process of conducting a valuation of the assets acquired and liabilities assumed related to the acquisition. The final fair value of the net assets acquired may result in adjustments to these assets and liabilities, including goodwill. The intangible assets were valued with input from valuation specialists. The Company used variations of the income approach, which uses Level 3 inputs, in determining the fair value of intangible assets acquired in the Wyatt acquisition. Specifically, the customer relationships were valued using the multi-period excess earnings method under the income approach. The Company utilized the relief from royalty method to determine the fair value of the tradename and the developed technology. The following table presents the preliminary allocation of the purchase price to the estimated fair values of the assets acquired and liabilities assumed on the closing date of May 16, 2023 (in thousands): Purchase Price Cash paid $ 1,307,978 Less: cash acquired (25,624 ) Net cash consideration 1,282,354 Identifiable Net Assets (Liabilities) Acquired Accounts receivable 20,099 Inventory 14,706 Deferred tax assets 11,335 Prepaid and other assets 1,096 Property, plant and equipment 9,056 Operating lease assets 5,204 Intangible assets 418,100 Accounts payable and accrued expenses (31,664 ) Operating lease liabilities (5,204 ) Tax liabilities (3,917 ) Deferred revenue (15,219 ) Other liabilities (5,728 ) Total identifiable net assets acquired 417,864 Goodwill 864,490 Cash consideration paid $ 1,282,354 The details of the purchase price allocated to the intangible assets acquired and the estimated useful lives are as follows (dollars in thousands): Amount Weighted-Average Developed technology $ 80,000 10 years Customer relationships 330,600 10 years Trade name 7,500 5 years Total $418,100 The Company allocated $864 million of the purchase price to goodwill which is primarily deductible for tax purposes and has been allocated to the Waters Division operating segment. The goodwill arising from the acquisition consists largely of the value of intangible assets that do not qualify for separate recognition such as workforce in place and cash flows from the integration of acquired technology, distribution channels and products with the Company’s products, which are higher than if the acquired companies’ technology, customer access or products were utilized on a stand-alone basis. During the twelve months ended December 31, 2023, the Company’s consolidated results included net sales of $ million, and a net operating loss of $ million since the acquisition closed on May 16, 2023. The Company also incurred transaction related costs of $ Unaudited Pro Forma Financial Information The following unaudited pro forma information is presented for illustrative purposes only. It is not necessarily indicative of the actual results of operations that actually would have been realized had the entities been a single company as of January 1, 2022 or the future operating results of the combined entity. The unaudited pro forma information does not give effect to the potential impact of current financial conditions, regulatory matters or any anticipated synergies that may be associated with the acquisition. The unaudited pro forma information also does not include any integration costs that the Company may incur related to the acquisition as part of combining the operations of the companies. The following unaudited pro forma information shows the results of the Company’s operations for the twelve months ended December 31, 2023 and 2022, as if the acquisition had occurred on January 1, 2022 (in thousands): December 31, 2023 December 31, 2022 Revenue $ 2,995,001 $ 3,086,281 Net income 658,431 651,869 To reflect the acquisition of Wyatt as if it had occurred on January 1, 2022, the unaudited pro forma information includes adjustments to reflect, among other things, the incremental intangible asset amortization to be incurred based on the preliminary values of each identifiable intangible asset of Wyatt and the interest expense from debt financings obtained to partially fund the cash consideration transferred. Pro forma adjustments were tax effected at the Company’s historical statutory rates in effect for the respective periods. Pro forma net income for the twelve months ended December 31, 2023, was adjusted to exclude certain non-recurring non-recurring In conjunction with the Wyatt acquisition, the Company entered into retention agreements with certain employees, in which the Company agreed to pay a total of $40 million, in two equal installments upon the first and second anniversary of the acquisition date. As these employees are earning their individual cash award by providing service over the two-year two-year On January 31, 2022, the Company completed an asset acquisition in which the charge detection mass spectrometry technology (“CDMS technology”) assets of Megadalton Solutions, Inc. (“Megadalton”) were acquired for approximately $10 million in total purchase price, of which $5 million was paid at closing and the remaining In-Process Research

Goodwill and Other Intangibles

Goodwill and Other Intangibles	12 Months Ended
	Dec. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Other Intangibles	8 Goodwill and Other Intangibles The carrying amount of goodwill was $1.3 billion and $430 million at December 31, 2023 and 2022, respectively. The acquisition of Wyatt increased goodwill by $864 million, while the effect of foreign currency translation increased goodwill by $10 million. The Company’s intangible assets included in the consolidated balance sheets are detailed as follows (dollars in thousands): December 31, 2023 December 31, 2022 Gross Accumulated Weighted- Gross Accumulated Weighted- Capitalized software $ 660,273 $ 495,317 5 $ 589,604 $ 441,414 5 Purchased intangibles 614,357 197,154 10 197,805 166,735 11 Trademarks 9,680 —  —  9,680 —  —  Licenses 14,798 8,429 7 14,070 6,729 6 Patents and other intangibles 111,962 80,983 8 104,139 73,021 8 Total $ 1,411,070 $ 781,883 7 $ 915,298 $ 687,899 7 The Company capitalized $468 million, $54 million and $55 million of intangible assets for the years ended December 31, 2023, 2022 and 2021, respectively. The gross carrying value of intangible assets and accumulated amortization for intangible assets increased by $32 million and $18 million, respectively, in the year ended December 31, 2023 due to the effects of foreign currency translation. Amortization expense for intangible assets was $81 million, $58 million and $60 million for the years ended December 31, 2023, 2022 and 2021, respectively. In addition, in the year ended December 31, 2023, the company wrote off a $4 million intangible asset that was fully amortized. Amortization expense for intangible assets is estimated to be $ million per year for each of the next five years.

Debt

Debt	12 Months Ended
	Dec. 31, 2023
Debt Disclosure [Abstract]
Debt	9 Debt On May 16, 2023, the Company financed the Wyatt acquisition with a combination of cash on its balance sheet and borrowings under its revolving credit facility. As a result of the Wyatt transaction, the Company’s outstanding debt on December 31, 2023 was $2.4 billion. On May 11, 2023, the Company issued the following senior unsecured notes: Senior Unsecured Notes Term Interest Rate Face Value (in millions) Maturity Date Series P 5 years 4.91% $50 May Series Q 7 years 4.91% $50 May 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 P and Q Senior Notes is payable semi-annually in arrears. The Company may prepay some or all of the Senior Notes, at any time and from time to 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 P and Q 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 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. Other provisions for these senior unsecured notes are similar to the existing senior unsecured notes, as described below. The Company ha s the maturity date of September 17, 2026. The amendment also replaced all references in the Credit Facility to LIBOR with Term SOFR as the benchmark rate. As of December 31, 2023 and December 31, 2022, the Credit Facility had a total of $ billion and $ million outstanding, respectively. The interest rates applicable under the Credit Facility 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 Term SOFR rate for a one-month The Credit Facility requires that the Company comply with an interest coverage ratio test of not less than :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 :1 as of the end of any fiscal quarter. In addition, the Credit Facility includes negative covenants, affirmative covenants, representations and warranties and events of default that are customary for investment grade credit facilities. As of both December 31, 2023 and 2022, the Company had a total of $1.3 billion 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. In the event of a change in control of the Company (as defined in the note purchase agreement), the Company may be required to prepay the senior unsecured notes at a price equal to 100% of the principal amount thereof, plus accrued and unpaid interest. These senior unsecured notes require that the Company comply with an interest coverage ratio test of not less than 3.50:1 for any period of four consecutive fiscal quarters and a leverage ratio test of not more than 3.50:1 as of the end of any fiscal quarter. In addition, these senior unsecured notes include customary negative covenants, affirmative covenants, representations and warranties and events of default. The Company had the following outstanding debt at December 31, 2023 and 2022 (in thousands): December 31, 2023 December 31, 2022 Senior unsecured notes - Series I - 3.13%, due May 2023 $ —  $ 50,000 Senior unsecured notes - Series G - 3.92%, due June 2024 50,000 —  Total notes payable and debt, current 50,000 50,000 Senior unsecured notes - Series G - 3.92%, due June 2024 —  50,000 Senior unsecured notes - Series H - floating rate*, due June 2024 —  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 100,000 100,000 Senior unsecured notes - Series O - 2.25%, due March 2031 400,000 400,000 Senior unsecured notes - Series P - 4.91%, due May 2028 50,000 —  Senior unsecured notes - Series Q - 4.91%, due May 2030 50,000 —  Credit agreement 1,050,000 270,000 Unamortized debt issuance costs (4,487 ) (5,122 ) Total long-term debt 2,305,513 1,524,878 Total debt $ 2,355,513 $ 1,574,878 * Series H senior unsecured notes bear interest at a 3-month As of December 31, 2023 and 2022, the Company had a total amount available to borrow under the Credit Facility of $0.9 billion and $1.5 billion, respectively, after outstanding letters of credit. The weighted-average interest rates applicable to the senior unsecured notes and credit agreement borrowings collectively were 4.69% and 3.54% at December 31, 2023 and 2022, respectively. As of December 31, 2023, the Company was in compliance with all debt covenants. The Company and its foreign subsidiaries also had available short-term lines of credit totaling $114 million and $113 million at December 31, 2023 and December 31, 2022, 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 December 31, 2023 or December 31, 202 2. Annual maturities of debt outstanding at December 31, 2023 are as follows (in thousands): Total 2024 $ 50,000 2025 —  2026 1,510,000 2027 —  2028 50,000 Thereafter 750,000 Total $ 2,360,000

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2023
Income Tax Disclosure [Abstract]
Income Taxes	10 Income Taxes Income tax data for the years ended December 31, 2023, 2022 and 2021 is as follows (in thousands): Year Ended December 31, 2023 2022 2021 The components of income before income taxes are as follows: Domestic $ 74,119 $ 133,816 $ 144,410 Foreign 662,124 704,030 661,783 Total $ 736,243 $ 837,846 $ 806,193 Year Ended December 31, 2023 2022 2021 The components of the income tax provision were as follows: Federal $ 178 $ 62,153 $ 16,302 State 6,427 8,025 3,691 Foreign 88,601 91,901 76,724 Total current tax provision $ 95,206 $ 162,079 $ 96,717 Federal $ (2,457 ) $ (26,551 ) $ 10,491 State (3,029 ) (4,420 ) 345 Foreign 4,289 (1,017 ) 5,797 Total deferred tax provision (1,197 ) (31,988 ) 16,633 Total provision $ 94,009 $ 130,091 $ 113,350 The differences between income taxes computed at the United States statutory rate and the provision for income taxes are summarized as follows for the years ended December 31, 2023, 2022 and 2021 (in thousands): Year Ended December 31, 2023 2022 2021 Federal tax computed at U.S. statutory income tax rate $ 154,611 $ 175,948 $ 169,300 GILTI, net of foreign tax credits 15,103 17,812 10,476 Uncertain tax positions (16,211 ) 1,051 508 State income tax, net of federal income tax benefit 2,880 3,605 4,037 Net effect of foreign operations (48,587 ) (55,273 ) (56,214 ) Effect of stock-based compensation (2,262 ) (7,341 ) (6,682 ) Other, net (11,525 ) (5,711 ) (8,075 ) Provision for income taxes $ 94,009 $ 130,091 $ 113,350 The Company’s effective tax rate was 12.8%, 15.5% and 14.1 % for the years ended December 31, 2023, 2022 and 2021, respectively. The decrease in the Company’s effective tax rate in 2023 can primarily be attributed to the recognition of a previously unrecognized tax benefit of $ The Company’s effective income tax rate differs from the U.S. federal statutory rate each year due to differences in the proportionate amounts of pre-tax The four principal jurisdictions in which the Company manufactures are the U.S., Ireland, the 2023. 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 1, 2021 through March 31, 2026. Prior to April 1, 2021, the Company had a tax exemption on income arising from qualifying activities in Singapore based upon the achievement of certain contractual milestones, which the Company met as of December 31, 2020 and maintained through March 2021. The effect of applying these concessionary income tax rates rather than the statutory tax rate to income arising from qualifying activities in Singapore increased the Company’s net income by $ million, $ million and $ million and increased the Company’s net income per diluted share by $ , $ and $ for the year s ended December 31, 2023, 2022 and 2021, respectively. During 2023, the Company’s effective tax rate differed from the 21% U.S. statutory tax rate primarily due to the jurisdictional mix of earnings, an $18 million recognition of a previously unrecognized tax benefit as a result of the completion of a tax examination, a $15 million provision related to the GILTI tax, including the impact of capitalizing research and development expenditures pursuant to IRC Section 174, and a tax benefit of $3 million on stock-based compensation. The 2022 effective tax rate differed from the 21% U.S. statutory tax rate primarily due to the jurisdictional mix of earnings, a $18 million provision related to the GILTI tax and a tax benefit of $7 million on stock-based compensation. The 2021 effective tax rate differed from the 21% U.S. statutory tax rate primarily due to the jurisdictional mix of earnings, an $10 million provision related to the GILTI tax and a tax benefit of $7 million on stock-based compensation. The Company recorded a tax provision of $4 million, $4 million and $3 million for 2023, 2022 and 2021, respectively, for future withholding taxes and U.S. state taxes on the repatriation of 2023, 2022 and 2021 undistributed earnings. The tax effects of temporary differences and carryforwards which give rise to deferred tax assets and deferred tax liabilities are summarized as follows (in thousands): December 31, 2023 2022 Deferred tax assets: Net operating losses and credits $ 54,901 $ 51,945 Depreciation 1,517 18 Operating leases 20,307 19,771 Amortization 5,905 2,713 Stock-based compensation 7,754 7,947 Deferred compensation 14,886 23,488 Deferred revenue 17,127 13,555 Revaluation of equity investments and licenses 1,884 23 Inventory 7,534 6,463 Accrued liabilities and reserves 5,720 4,815 Capitalized interest 12,586 —  Unrealized foreign currency gain/loss 700 1,858 Capitalized Section 174 Expenditures 34,487 34,234 Other 5,086 1,098 Total deferred tax assets 190,394 167,928 Valuation allowance (57,873 ) (54,300 ) Deferred tax 132,521 113,628 Deferred tax liabilities: Capitalized software (29,281 ) (25,429 ) Operating leases (20,117 ) (19,543 ) Indefinite-lived intangibles (14,824 ) (16,057 ) Deferred tax liability on foreign earnings (20,374 ) (18,677 ) Total deferred tax liabilities (84,596 ) (79,706 ) Net deferred tax assets $ 47,925 $ 33,922 The Company has gross foreign net operating losses of $231 million, of which $192 million do not expire under current laws and $39 million start expiring in 2024. As of December 31, 2023, the Company has provided a deferred tax valuation allowance of $58 million, of which $52 million relates to certain foreign net operating losses. The Company’s net deferred tax assets associated with net operating losses and tax credit carryforwards are approximately $3 million as of December 31, 2023, which represent the future tax benefit of foreign net operating loss carryforwards that do not expire under current law. 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. 2023 2022 2021 Balance at the beginning of the period $ 29,019 $ 28,692 $ 28,666 Net reductions for settlement of tax audits (17,651 ) —  (1,300 ) Net reductions for lapse of statutes taken during the period (512 ) (818 ) (433 ) Net additions for tax positions taken during the prior period 2,473 —  —  Net additions for tax positions taken during the current period 994 1,145 1,759 Balance at the end of the period $ 14,323 $ 29,019 $ 28,692 As of 2023, the total amount of gross unrecognized tax benefits was $14 million, all of which, if recognized, would impact the Company’s effective tax rate. This represents a decrease of $18 million resulting from the completion of a tax audit in 2023. This decrease reduced the income tax expense in the statement of operations and did not impact cash 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, 2018. The Company continuously monitors the lapsing of statutes of limitations on potential tax assessments for related changes in the measurement of unrecognized tax benefits, related net interest and penalties and deferred tax assets and liabilities. As of December 31, 2023, the Company expects to record additional reductions in the measurement of its unrecognized tax benefits and related net interest and penalties of approximately $2 million within the next twelve months due to potential tax audit settlements and the lapsing of statutes of limitations on potential tax assessments. The Company does not expect to record any other material reductions in the measurement of its unrecognized tax benefits within the next twelve months. The following is a summary of the activity of the Company’s valuation allowance for the years ended December 31, 2023, 2022 and 2021 (in thousands): Balance at Charged to Other** Balance at Valuation allowance for deferred tax assets: 2023 $ 54,300 $ 1,467 $ 2,106 $ 57,873 2022 $ 58,834 $ (1,647 ) $ (2,887 ) $ 54,300 2021 $ 60,101 $ 2,919 $ (4,186 ) $ 58,834 * These amounts have been recorded as part of the income statement provision for income taxes. The income statement effects of these amounts have largely been offset by amounts related to changes in other deferred tax balance sheet accounts. ** The changes in the valuation allowance during the years ended December 31, 2023, 2022 and 2021 are primarily due to the effect of foreign currency translation on a valuation allowance related to a net operating loss carryforward.

Litigation

Litigation	12 Months Ended
	Dec. 31, 2023
Litigation Settlement [Abstract]
Litigation	11 Litigation From time to time, the Company and its subsidiaries are involved in various litigation matters arising in the ordinary course of business. The Company believes it has meritorious arguments in its current litigation matters and believes any outcome, either individually or in the aggregate, will not be material to the Company’s financial position, results of operations or cash flows. During the year ended December 31, 2021, the Company executed a settlement agreement to resolve patent infringement litigation with Bruker Corporation and Bruker Daltronik GmbH regarding their timsTOF product line. In connection with the settlement, the Company is entitled to receive $ million in guaranteed payments, including minimum royalty payments, which was recognized within other income (expense), net in the consolidated statement of operations for the year ended December 31, 2021. During the years ended December 31, 2023, 2022 and 2021, the Company received $2 million, $1 million and $ million, respectively, in guaranteed payments, net of applicable withholding taxes. The Company also recorded a litigation provision of $

Leases

Leases	12 Months Ended
	Dec. 31, 2023
Leases [Abstract]
Leases	12 Leases As of December 31, 2023 and 2022, the Company had lease agreements that expire at various dates through 2034, with weighted-average remaining lease terms of 4.5 years and 4.4 years, respectively. Rental expense was $38 million, $36 million and $34 million for the years ended December 31, 2023, 2022 and 2021, respectively. As of December 31, 2023 and 2022, the weighted-average discount rates used to determine the present value of lease liabilities were 4.15% and 3.24%, respectively. During the years ended December 31, 2023, 2022 and 2021, cash paid for amounts included in the measurement of lease liabilities in operating activities in the statement of cash flows was $38 million, $36 million and $34 million, respectively. T recorded $ million , million of right-of-use The Company’s right-of-use December 31, Financial Statement Classification 2023 2022 Assets: Property operating lease assets Operating lease assets $ 55,006 $ 54,930 Automobile operating lease assets Operating lease assets 28,675 30,582 Equipment operating lease assets Operating lease assets 910 994 Total lease assets $ 84,591 $ 86,506 Liabilities: Current operating lease liabilities Current operating lease liabilities $ 27,825 $ 26,429 Long-term operating lease liabilities Long-term operating lease liabilities 58,926 62,108 Total lease liabilities $ 86,751 $ 88,537 Undiscounted future minimum rents payable as of December 31, 2023 under non-cancelable 2024 $ 30,344 2025 24,570 2026 18,321 2027 10,752 2028 3,848 2029 and thereafter 5,215 Total future minimum lease payments 93,050 Less: amount of lease payments representing interest (6,299 ) Present value of future minimum lease payments 86,751 Less: current operating lease liabilities (27,825 ) Long-term operating lease liabilities $ 58,926

Other Commitments and Contingen

Other Commitments and Contingencies	12 Months Ended
	Dec. 31, 2023
Commitments and Contingencies Disclosure [Abstract]
Other Commitments and Contingencies	13 Other Commitments and Contingencies The Company licenses certain technology and software from third parties in the course of ordinary business. Future minimum license fees payable under existing license agreements as of December 31, 2023 are immaterial for the years ended December 31, 2023 and thereafter. The Company enters into standard indemnification agreements in its ordinary course of business. Pursuant to these agreements, the Company indemnifies, holds harmless and agrees to reimburse the indemnified party for losses suffered or incurred by the indemnified party, generally the Company’s business partners or customers, in connection with patent, copyright or other intellectual property infringement claims by any third party with respect to its current products, as well as claims relating to property damage or personal injury resulting from the performance of services by the Company or its subcontractors. The maximum potential amount of future payments the Company could be required to make under these indemnification agreements is unlimited. Historically, the Company’s costs to defend lawsuits or settle claims relating to such indemnity agreements have been minimal and management accordingly believes the estimated fair value of these agreements is immaterial.

Stock-Based Compensation

Stock-Based Compensation	12 Months Ended
	Dec. 31, 2023
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Stock-Based Compensation	14 Stock-Based Compensation In May 2020, the Company’s shareholders approved the Company’s 2020 Equity Incentive Plan (“2020 Plan”). As of December 31, 2023, the 2020 Plan has 6.3 million shares available for grant in the form of incentive or non-qualified options utstanding. In May 2009, the Company’s shareholders approved the 2009 Employee Stock Purchase Plan, under which eligible employees may contribute up to % of their earnings toward the quarterly purchase of the Company’s common stock. The plan makes available million shares of the Company’s common stock, which includes the remaining shares available under the 1996 Employee Stock Purchase Plan. As of December 31, 2023, million shares have been issued under both the 2009 and 1996 Employee Stock Purchase Plans. Each plan period lasts beginning on January , April 1, July 1 and October 1 of each year. Stock-based compensation expense related to this plan was $ million for each of the years ended December 31, 2023, 2022 and 2021. 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 years ended December 31, 2023, 2022 and 2021 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): 2023 2022 2021 Cost of sales $ 2,014 $ 3,498 $ 2,500 Selling and administrative expenses 31,012 32,192 21,727 Research and development expenses 3,842 6,874 5,691 Total stock-based compensation $ 36,868 $ 42,564 $ 29,918 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 stock option exercises. The risk-free interest rate is the yield currently available on U.S. Treasury zero-coupon issues with a remaining term approximating the expected term used as the input to the Black-Scholes model. The relevant data used to determine the value of the stock options granted during the twelve months ended December 31, 2023, 2022 and 2021 are as follows: Options Issued and Significant Weighted-Average Assumptions Used to Estimate Option Fair Values 2023 2022 2021 Options issued in thousands 132 138 160 Risk-free interest rate 3.9 % 2.0 % 0.8 % Expected life in years 6 6 6 Expected volatility 31.1 % 30.7 % 32.4 % Expected dividends —  —  —  Weighted-Average Exercise Price and Fair Value of Options on the Date of Grant 2023 2022 2021 Exercise price $ 331.76 $ 321.15 $ 281.33 Fair value $ 126.73 $ 107.99 $ 91.48 The following table summarizes stock option activity for the plans for the twelve months ended December 31, 2023 (in thousands, except per share data): Number of Shares Exercise Price per Share Weighted- Outstanding at December 31, 2022 597 $ 99.22 to $ 371.64 $ 238.43 Granted 132 $ 253.64 to $ 345.59 $ 331.76 Exercised (99 ) $ 99.22 to $ 314.98 $ 178.31 Canceled (43 ) $ 195.75 to $ 345.59 $ 291.54 Outstanding at December 31, 2023 587 $ 113.88 to $ 371.64 $ 265.17 The following table details the options outstanding at December 31, 2023 by range of exercise prices (in thousands, except per share data): Exercise Price Range Number of Shares Weighted- Remaining Number of Shares Weighted- $113.88 to $235.06 192 $ 187.37 4.7 150 $ 181.57 $235.07 to $303.64 166 $ 267.95 6.8 80 $ 262.92 $303.65 to $371.64 229 $ 328.38 8.6 29 $ 331.66 Total 587 $ 265.17 6.8 259 $ 223.37 During 2023, 2022 and 2021, the total intrinsic value of the stock options exercised (i.e., the difference between the market price at exercise and the price paid by the employee to exercise the options) was $11 million, $ s The aggregate intrinsic value of the outstanding stock options at December 31, 2023 was $39 million. There were 0.3 million options exercisable at December 31, 2023, 2022 and 2021. The weighted-average exercise prices of options exercisable at December 31, 2023, 2022 and 2021 were $223.37, $188.21 and $162.09, respectively. The weighted-average remaining contractual life of the exercisable outstanding stock options at December 31, 2023 was 5.1 years. The aggregate intrinsic value of stock options exercisable as of December 31, 2023 was $28 million. At December 31, 2023, the Company had 0.6 million stock options that are vested and expected to vest. The intrinsic value, weighted-average exercise price and remaining contractual life of the vested and expected to vest stock options were $39 million, $264.78 and 6.7 years, respectively, at December 31, 2023. The amount of compensation costs recognized for the year s Restricted Stock During the years ended December 31, 2023, 2022 and 2021, the Company granted thousand, thousand and thousand shares of restricted stock, respectively. The weighted-average fair value per share on the grant date of the restricted stock granted in 2023, 2022 and 2021 was $ , $ and $ , respectively. The Company has recorded $ million of compensation expense in each of the years ended December 31, 2023, 2022 and 2021 related to the restricted stock grants. As of December 31, 2023, the Company had thousand unvested shares of restricted stock outstanding, which have been fully expensed. Restricted Stock Units The following table summarizes the unvested restricted stock unit award activity for the twelve months ended December 31, 2023 (in thousands, except per share data): Shares Weighted-Average Unvested at December 31, 2022 238 $ 273.60 Granted 100 $ 319.28 Vested (74 ) $ 254.61 Forfeited (29 ) $ 288.50 Unvested at December 31, 2023 235 $ 297.18 Restricted stock units are generally granted annually in February and vest in equal annual installments over a five-year period. The amount of compensation costs recognized for the years ended December 31, 2023, 2022 and 2021 on the restricted stock units expected to vest were $19 million, $19 million and $17 million, respectively. As of December 31, 2023, there were $50 million of total unrecognized compensation costs related to the restricted stock unit awards that are expected to vest. These costs are expected to be recognized over a weighted-average period of 3.3 years . Performance Stock Units The Company’s In determining the fair value of the performance stock units, the Company makes a variety of assumptions and estimates, includ ing vola zero-coupon the value of Performance Stock Units Issued and Significant Assumptions Used to Estimate Fair Values 2023 2022 2021 Performance stock units issued in thousands 45 40 41 Risk-free interest rate 4.8 % 1.6 % 0.2 % Expected life in years 2.9 2.9 2.9 Expected volatility 33.3 % 25.4 % 38.7 % Average volatility of peer companies 32.8 % 34.5 % 34.7 % Correlation Coefficient 38.2 % 43.0 % 45.8 % Expected dividends —  —  —  The following table summarizes the unvested performance stock unit award activity for the twelve months ended December 31, 2023 (in thousands, except per share data): Shares Weighted-Average Unvested at December 31, 2022 111 $ 297.55 Granted 45 $ 338.02 Vested (46 ) $ 208.35 Forfeited (17 ) $ 307.03 Change in performance shares in the year due to exceeding performance targets 15 $ 205.72 Unvested at December 31, 2023 108 $ 337.22 The amount of compensation costs recognized for the years ended December 31, 2023, 2022 and 2021 on the performance stock units expected to vest were $5 million, $13 million and $3 million, respectively. As of December 31, 2023, there were $15 million of total unrecognized compensation costs related to the performance stock unit awards that are expected to vest. These costs are expected to be recognized over a weighted-average period of 1.9 years.

Earnings Per Share

Earnings Per Share	12 Months Ended
	Dec. 31, 2023
Earnings Per Share [Abstract]
Earnings Per Share	15  Earnings Per Share Basic and diluted EPS calculations are detailed as follows (in thousands, except per share data): Year Ended December 31, 2023 Net Income Weighted-Average Per (Numerator) (Denominator) Amount Net income per basic common share $ 642,234 59,076 $ 10.87 Effect of dilutive stock option, restricted stock, performance stock unit and restricted stock unit securities —  194 (0.03 ) Net income per diluted common share $ 642,234 59,270 $ 10.84 Year Ended December 31, 2022 Net Income Weighted-Average Per (Numerator) (Denominator) Amount Net income per basic common share $ 707,755 59,985 $ 11.80 Effect of dilutive stock option, restricted stock, performance stock unit and restricted stock unit securities —  346 (0.07 ) Net income per diluted common share $ 707,755 60,331 $ 11.73 Year Ended December 31, 2021 Net Income Weighted-Average Per (Numerator) (Denominator) Amount Net income per basic common share $ 692,843 61,575 $ 11.25 Effect of dilutive stock option, restricted stock, performance stock unit and restricted stock unit securities —  453 (0.08 ) Net income per diluted common share $ 692,843 62,028 $ 11.17 For the year s stock method.

Accumulated Other Comprehensive

Accumulated Other Comprehensive Loss	12 Months Ended
	Dec. 31, 2023
Equity [Abstract]
Accumulated Other Comprehensive Loss	16  Accumulated Other Comprehensive Loss The components of accumulated other comprehensive loss are detailed as follows (in thousands): Currency Unrealized Gain Unrealized Unrealized Derivative Accumulated Balance at December 31, 2021 $ (99,985 ) $ (11,860 ) $ (20 ) $ —  $ (111,865 ) Other comprehensive (loss) income, net of tax (46,135 ) 16,408 20 —  (29,707 ) Balance at December 31, 2022 $ (146,120 ) $ 4,548 $ —  $ —  $ (141,572 ) Other comprehensive (loss) income, net of tax 17,761 (8,049 ) —  (2,260 ) 7,452 Balance at December 31, 2023 $ (128,359 ) $ (3,501 ) $ —  $ (2,260 ) $ (134,120 )

Retirement Plans

Retirement Plans	12 Months Ended
	Dec. 31, 2023
Retirement Benefits [Abstract]
Retirement Plans	17  Retirement Plans U.S. employees are eligible to participate in the Waters Employee Investment Plan, a 401(k) defined contribution plan, immediately upon hire. Employees may contribute up to 60% of eligible pay on a pre-tax post-tax s The Company also sponsors other employee benefit plans in the U.S., including a retiree healthcare plan, which provides reimbursement for medical expenses and is contributory. There are various employee benefit plans outside the United States (both defined benefit and defined contribution plans). Certain non-U.S. (“Non-U.S. The Company contributed $18 million, $16 million and $17 million in the year s non-U.S. non-U.S. plans and regulations. The net periodic pension cost Summary data for the U.S. Retiree Healthcare Plan and Non-U.S. Pension The reconciliation of the projected benefit obligations for the plans at December 31, 2023 and 2022 is as follows (in thousands): 2023 2022 U.S. Non-U.S. U.S. Non-U.S. Projected benefit obligation, January 1 $ 22,583 $ 74,025 $ 25,958 $ 106,924 Service cost 275 3,073 775 4,018 Employee contributions 1,105 601 1,139 536 Interest cost 1,262 2,797 706 1,360 Actuarial losses (gains) 2,166 11,387 (4,657 ) (27,494 ) Benefits paid (1,649 ) (2,051 ) (1,338 ) (3,567 ) Plan amendments —  (500 ) —  —  Plan settlements —  (488 ) —  (812 ) Currency impact —  3,547 —  (6,940 ) Projected benefit obligation, December 31 $ 25,742 $ 92,391 $ 22,583 $ 74,025 The reconciliation of the fair value of the plan assets at December 31, 2023 and 2022 is as follows (in thousands): 2023 2022 U.S. Non-U.S. U.S. Non-U.S. Healthcare Pension Healthcare Pension Plan Plans Plan Plans Fair value of plan assets, January 1 $ 15,724 $ 77,697 $ 18,314 $ 91,169 Actual return on plan assets 2,444 4,144 (2,895 ) (6,497 ) Company contributions 529 3,224 504 2,500 Employee contributions 1,105 601 1,139 536 Plan settlements —  (488 ) —  (812 ) Benefits paid (1,649 ) (2,051 ) (1,338 ) (3,567 ) Currency impact —  3,460 —  (5,632 ) Fair value of plan assets, December 31 $ 18,153 $ 86,587 $ 15,724 $ 77,697 The summary of the funded status for the plans at December 31, 2023 and 2022 is as follows (in thousands): 2023 2022 U.S. Non-U.S. U.S. Non-U.S. Healthcare Pension Healthcare Pension Plan Plans Plan Plans Projected benefit obligation $ (25,742 ) $ (92,391 ) $ (22,583 ) $ (74,025 ) Fair value of plan assets 18,153 86,587 15,724 77,697 Funded status $ (7,589 ) $ (5,804 ) $ (6,859 ) $ 3,672 The change in the Company’s projected benefit obligation for the year ended December 31, 2023 was primarily due to net actuarial losses that arose during the year driven by a decrease in discount rates, differences between expected and actual return on plan assets, and fluctuations in foreign currency exchange rates during the year. The change in the Company’s projected benefit obligation for the year ended December 31, 2022 was primarily due to net actuarial gains that arose during the year driven by an increase in discount rates, differences between expected and actual return on plan assets, and fluctuations in foreign currency exchange rates during the year. The summary of the amounts recognized in the consolidated balance sheets for the plans at December 31, 2023 and 2022 is as follows (in thousands): 2023 2022 U.S. Non-U.S. U.S. Non-U.S. Healthcare Pension Healthcare Pension Plan Plans Plan Plans Long-term assets $ —  $ 5,220 $ —  $ 9,554 Long-term liabilities (7,589 ) (11,024 ) (6,859 ) (5,882 ) Net amount recognized at December 31 $ (7,589 ) $ (5,804 ) $ (6,859 ) $ 3,672 The accumulated benefit obligation for all defined benefit pension plans was $81 million and $64 million at December 31, 2023 and 2022, respectively. The summary of the Non-U.S. Pension Plans that have accumulated benefit obligations in excess of plan assets at December 31, 2023 and 2022 is as follows (in thousands): 2023 2022 Accumulated benefit obligations $ 60,815 $ 16,962 Fair value of plan assets $ 52,894 $ 13,616 The summary of the Non-U.S. 2023 2022 Projected benefit obligations $ 63,918 $ 19,498 Fair value of plan assets $ 52,894 $ 13,616 The summary of the components of net periodic pension costs for the plans for the years ended December 31, 2023, 2022 and 2021 is as follows (in thousands): 2023 2022 2021 U.S. Non-U.S. U.S. Non-U.S. U.S. Non-U.S. Service cost $ 275 $ 3,073 $ 775 $ 4,018 $ 884 $ 4,577 Interest cost 1,262 2,797 706 1,360 559 1,247 Expected return on plan assets (978 ) (2,653 ) (1,138 ) (1,972 ) (1,011 ) (1,835 ) Settlement loss —  221 —  73 —  77 Net amortization: Prior service credit (19 ) (105 ) (19 ) (129 ) (19 ) (87 ) Net actuarial (gain) loss —  (195 ) —  649 10 1,186 Net periodic pension cost $ 540 $ 3,138 $ 324 $ 3,999 $ 423 $ 5,165 The summary of the changes in amounts recognized in other comprehensive income (loss) for the plans for the years ended December 31, 2023, 2022 and 2021 is as follows (in thousands): 2023 2022 2021 U.S. Non-U.S. U.S. Non-U.S. U.S. Non-U.S. Prior service credit $ —  $ —  $ —  $ —  $ —  $ (69 ) Net (loss) gain arising during the year (699 ) (9,396 ) 623 19,025 1,524 6,708 Amortization: Prior service credit (19 ) (105 ) (19 ) (129 ) (19 ) (87 ) Net loss —  26 —  722 10 1,263 Currency impact —  (58 ) —  1,305 —  1,179 Total recognized in other comprehensive (loss) income $ (718 ) $ (9,533 ) $ 604 $ 20,923 $ 1,515 $ 8,994 The components of net periodic benefit cost other than the service cost component are included in other income, net in the consolidated statements of operations. The summary of the amounts included in accumulated other comprehensive loss in stockholders’ equity for the plans at December 31, 2023 and 2022 is as follows (in thousands): 2023 2022 U.S. Non-U.S. U.S. Non-U.S. Net actuarial (loss) gain $ (964 ) $ (3,241 ) $ (266 ) $ 6,157 Prior service credit (cost) 17 (156 ) 36 (20 ) Total $ (947 ) $ (3,397 ) $ (230 ) $ 6,137 The plans’ investment asset mix is as follows at December 31, 2023 and 2022: 2023 2022 U.S. Non-U.S. U.S. Non-U.S. Equity securities 70 % 4 % 77 % 5 % Debt securities 30 % 18 % 23 % 18 % Cash and cash equivalents 0 % 2 % 0 % 2 % Insurance contracts and other 0 % 76 % 0 % 75 % Total 100 % 100 % 100 % 100 % The plans’ investment policies include the following asset allocation guidelines: U.S. Retiree Healthcare Plan Non-U.S. Policy Target Policy Target Range Equity securities 60 % 30% - 90% 13 % Debt securities 35 % 20% - 50% 19 % Cash and cash equivalents 0 % 0% - 10% 8 % Insurance contracts and other 5 % 0% - 10% 60 % The asset allocation policy for the U.S. Retiree Healthcare Plan was developed in consideration of the following long-term investment objectives: achieving a return on assets consistent with the investment policy, achieving portfolio returns which compare favorably with those of other similar plans, professionally managed portfolios and of appropriate market indexes and maintaining sufficient liquidity to meet the obligations of the plan. Within the equity portfolio of the U.S. Retiree Healthcare Plan, investments are diversified among market capitalization and investment strategy, and targets a 45% allocation of the equity portfolio to be invested in financial markets outside of the United States. The Company does not invest in its own stock within the U.S. Retiree Healthcare Plan’s assets. Plan assets are measured at fair value using the following valuation techniques and inputs: Level 1: The fair value of these types of investments is based on market and observable sources from daily quoted prices on nationally recognized securities exchanges. Level 2: The fair value of these types of investments utilizes data points other than quoted prices in active markets that are observable either directly or indirectly. Level 3: These bank and insurance investment contracts are issued by well-known, highly-rated companies. The fair value disclosed represents the present value of future cash flows under the terms of the respective contracts. Significant assumptions used to determine the fair value of these contracts include the amount and timing of future cash flows and counterparty credit risk. There have been no changes in the above valuation techniques associated with determining the value of the plans’ assets during the years ended December 31, 2023 and 2022. The fair value of the Company’s retirement plan assets are as follows at December 31, 2023 (in thousands): Total at Quoted Prices Significant Significant U.S. Retiree Healthcare Plan: Mutual funds (a) 18,153 18,153 —  —  Total U.S. Retiree Healthcare Plan 18,153 18,153 —  —  Non-U.S. Cash equivalents (b) 1,611 1,611 —  —  Mutual funds (c) 18,785 18,785 —  —  Bank and insurance investment contracts (d) 66,191 —  —  66,191 Total Non-U.S. 86,587 20,396 —  66,191 Total fair value of retirement plan assets $ 104,740 $ 38,549 $ —  $ 66,191 The fair value of the Company’s retirement plan assets are as follows at December 31, 2022 (in thousands): Total at Quoted Prices (Level 1) Significant Significant (Level 3) U.S. Retiree Healthcare Plan: Mutual funds (e) 15,724 15,724 —  —  Total U.S. Retiree Healthcare Plan 15,724 15,724 —  —  Non-U.S. Cash equivalents (b) 1,527 1,527 —  —  Mutual funds (f) 18,176 18,176 —  —  Bank and insurance investment contracts (d) 57,994 —  —  57,994 Total Non-U.S. 77,697 19,703 —  57,994 Total fair value of retirement plan assets $ 93,421 $ 35,427 $ —  $ 57,994 a) The mutual fund balance in the U.S. Retiree Healthcare Plan is invested in the following categories: 41% in the common stock of large-cap b) Primarily represents deposit account funds held with various financial institutions. c) The mutual fund balance in the Non-U.S. d) Amount represents bank and insurance guaranteed investment contracts. e) The mutual fund balance in the U.S. Retiree Healthcare Plan is invested in the following categories: 49% in the common stock of large-cap f) The mutual fund balance in the Non-U.S. The following table summarizes the changes in fair value of the Level 3 retirement plan assets for the years ended December 31, 2023 and 2022 (in thousands) : Insurance Fair value of assets, December 31, 2021 $ 65,945 Net purchases (sales) and appreciation (depreciation) (7,951 ) Fair value of assets, December 31, 2022 57,994 Net purchases (sales) and appreciation (depreciation) 8,197 Fair value of assets, December 31, 2023 $ 66,191 The weighted-average assumptions used to determine the benefit obligation in the consolidated balance sheets at December 31, 2023, 2022 and 2021 are as follows: 2023 2022 2021 U.S. Non-U.S. U.S. Non-U.S. U.S. Non-U.S. Discount rate 5.18 % 2.97 % 5.42 % 3.82 % 2.70 % 1.40 % Increases in compensation levels * * 2.90 % * * 3.14 % * * 2.74 % Interest crediting rate 5.25 % 2.05 % 5.25 % 1.57 % 5.25 % 0.99 % ** Not applicable The weighted-average assumptions used to determine the net periodic pension cost for the years ended December 31, 2023, 2022 and 2021 are as follows: 2023 2022 2021 U.S. Non-U.S. U.S. Non-U.S. U.S. Non-U.S. Discount rate 5.42 % 4.70 % 2.70 % 2.09 % 2.25 % 1.40 % Return on plan assets 6.25 % 3.95 % 6.25 % 3.07 % 6.25 % 2.58 % Increases in compensation levels * * 4.32 % * * 3.58 % * * 3.11 % Interest crediting rate 5.25 % 1.47 % 5.25 % 1.55 % 5.25 % 0.77 % ** Not applicable To develop the expected long-term rate of return on assets assumption, the Company considered historical returns and future expectations for returns for each asset class, as well as the target asset allocation of the pension portfolio and historical expenses paid by the plan. A one-quarter one-quarter . During U.S. Non-U.S. Total 2024 $ 1,959 $ 4,018 $ 5,977 2025 2,068 4,062 6,130 2026 2,153 3,376 5,529 2027 2,251 4,192 6,443 2028 2,444 5,420 7,864 2029 - 2033 13,807 26,732 40,539

Business Segment Information

Business Segment Information	12 Months Ended
	Dec. 31, 2023
Segment Reporting [Abstract]
Business Segment Information	18  Business Segment Information The accounting standards for segment reporting establish standards for reporting information about operating segments in annual financial 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 years ended December 31, 2023, 2022 and 2021 (in thousa nd 2023 2022 2021 Product net sales: Waters instrument systems $ 1,108,702 $ 1,210,456 $ 1,089,248 Chemistry consumables 541,469 525,399 507,209 TA instrument systems 252,879 252,314 225,613 Total product sales 1,903,050 1,988,169 1,822,070 Service net sales: Waters service 951,419 890,607 876,626 TA service 101,947 93,180 87,178 Total service sales 1,053,366 983,787 963,804 Total net sales $ 2,956,416 $ 2,971,956 $ 2,785,874 Net sales are attributable to geographic areas based a rs ended December 31, 2023, 2022 and 2021 (in thousands): 2023 2022 2021 Net Sales: Asia: China $ 440,707 $ 565,143 $ 521,128 Japan 167,202 167,220 182,597 Asia Other 399,916 399,380 372,040 Total Asia 1,007,825 1,131,743 1,075,765 Americas: United States 927,982 886,140 774,014 Americas Other 180,591 169,495 151,206 Total Americas 1,108,573 1,055,635 925,220 Europe 840,018 784,578 784,889 Total net sales $ 2,956,416 $ 2,971,956 $ 2,785,874 None of the Company’s individual customers accounts for more than 2% of annual Company sales. Net sales by customer class are as follows for the years ended December 31, 2023, 2022 and 2021 (in thousands): 2023 2022 2021 Pharmaceutical $ 1,696,875 $ 1,751,665 $ 1,667,061 Industrial 909,003 909,805 829,204 Academic and government 350,538 310,486 289,609 Total net sales $ 2,956,416 $ 2,971,956 $ 2,785,874 Net sales for the Company recognized at a point in time versus over time are as follows for the years ended December 31, 2023, 2022 and 2021 (in thousands): 2023 2022 2021 Net sales recognized at a point in time: Instrument systems $ 1,361,581 $ 1,462,770 $ 1,314,861 Chemistry consumables 541,469 525,399 507,209 Service sales recognized at a point in time (time & materials) 372,530 367,501 354,666 Total net sales recognized at a point in time 2,275,580 2,355,670 2,176,736 Net sales recognized over time: Service and software maintenance sales recognized over time (contracts) 680,836 616,286 609,138 Total net sales $ 2,956,416 $ 2,971,956 $ 2,785,874 Long-lived assets information at December 31, 2023, 2022 and 2021 is presented below (in thousands): December 31, 2023 2022 2021 Long-lived assets: United States $ 440,993 $ 429,469 $ 395,446 Americas Other 2,632 1,663 1,662 Total Americas 443,625 431,132 397,108 Europe 167,948 133,465 130,806 Asia 27,500 17,620 19,999 Total long-lived assets $ 639,073 $ 582,217 $ 547,913 The Americas Other category includes Canada, Latin America and Puerto Rico. Long-lived assets exclude goodwill, other intangible assets and other assets.

Unaudited Quarterly Results

Unaudited Quarterly Results	12 Months Ended
	Dec. 31, 2023
Quarterly Financial Data [Abstract]
Unaudited Quarterly Results	19  Unaudited Quarterly Results The Company’s unaudited quarterly results are summarized below (in thousands, except per share data): First Second Third Fourth 2023 Quarter Quarter Quarter Quarter Total Net sales $ 684,674 $ 740,576 $ 711,692 $ 819,474 $ 2,956,416 Costs and operating expenses: Cost of sales 284,380 301,076 291,407 318,360 1,195,223 Selling and administrative expenses 181,956 186,953 186,748 180,357 736,014 Research and development expenses 42,691 45,873 41,995 44,386 174,945 Purchased intangibles amortization 1,479 6,815 12,116 12,148 32,558 Total costs and operating expenses 510,506 540,717 532,266 555,251 2,138,740 Operating income 174,168 199,859 179,426 264,223 817,676 Other income (expense), net 1,388 (352 ) 328 (557 ) 807 Interest expense (14,444 ) (23,272 ) (30,442 ) (30,703 ) (98,861 ) Interest income 4,061 4,040 3,883 4,637 16,621 Income before income taxes 165,173 180,275 153,195 237,600 736,243 Provision for income taxes 24,250 29,721 18,643 21,395 94,009 Net income $ 140,923 $ 150,554 $ 134,552 $ 216,205 $ 642,234 Net income per basic common share 2.39 2.56 2.28 3.66 10.87 Weighted-average number of basic common shares 59,023 58,857 59,093 59,142 59,076 Net income per diluted common share 2.38 2.55 2.27 3.65 10.84 Weighted-average number of diluted common shares and equivalents 59,317 59,010 59,225 59,311 59,270 First Second Third Fourth 2022 Quarter Quarter Quarter Quarter Total Net sales $ 690,572 $ 714,319 $ 708,555 $ 858,510 $ 2,971,956 Costs and operating expenses: Cost of sales 285,685 307,206 307,101 348,190 1,248,182 Selling and administrative expenses 157,475 161,877 164,417 174,257 658,026 Research and development expenses 40,472 44,006 43,435 48,277 176,190 Purchased intangibles amortization 1,673 1,598 1,592 1,503 6,366 Acquired in-process 9,797 —  —  —  9,797 Total costs and operating expenses 495,102 514,687 516,545 572,227 2,098,561 Operating income 195,470 199,632 192,010 286,283 873,395 Other income (expense), net 170 1,535 895 (372 ) 2,228 Interest expense (11,059 ) (11,419 ) (12,420 ) (13,899 ) (48,797 ) Interest income 2,114 2,526 2,896 3,484 11,020 Income before income taxes 186,695 192,274 183,381 275,496 837,846 Provision for income taxes 26,864 27,410 27,383 48,434 130,091 Net income $ 159,831 $ 164,864 $ 155,998 $ 227,062 $ 707,755 Net income per basic common share 2.64 2.74 2.61 3.83 11.80 Weighted-average number of basic common shares 60,580 60,206 59,801 59,329 59,985 Net income per diluted common share 2.62 2.72 2.60 3.81 11.73 Weighted-average number of diluted common shares and equivalents 60,952 60,510 60,081 59,644 60,331 The Company typically experiences an increase in sales in the fourth quarter, as a result of purchasing habits for capital goods of customers that tend to exhaust their spending budgets by calendar year-end. Selling and administrative expenses are typically higher after the first quarter in each year as the Company’s annual payroll merit increases take effect. The C

Basis of Presentation and Sum_2

Basis of Presentation and Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2023
Accounting Policies [Abstract]
Use of Estimates	Use of Estimates The preparation of consolidated financial statements in conformity with generally accepted accounting principles (“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. On an ongoing basis, the Company evaluates its estimates, including those related to revenue recognition, goodwill and intangible assets, income taxes, litigation and inventory valuation. The Company bases its estimates on historical experience and on various other assumptions that are believed to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities that are not readily apparent from other sources. 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.
Principles of Consolidation	Principles of Consolidation The consolidated financial statements include the accounts of the Company and its subsidiaries, which are wholly owned. The Company consolidates entities in which it owns or controls 50% or more of the voting shares. All inter-company balances and transactions have been eliminated.
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 loss in the consolidated balance sheets. The Company’s net sales derived from operations outside the United States were 69%, 70% and 72% in 2023, 2022 and 2021, respectively. Gains and losses from foreign currency transactions are included primarily in cost of sales in the consolidated statements of operations. In 2023, 2022 and 2021, foreign currency transactions resulted in net losses of $16 million, $31 million and $5 million, respectively.
Seasonality of Business	Seasonality of Business The Company typically experiences seasonality in its orders that is reflected as an increase in sales in the fourth quarter, as a result of purchasing habits for capital goods of customers that tend to exhaust their spending budgets by calendar year-end.
Cash, Cash Equivalents and Investments	Cash, Cash Equivalents and Investments Cash equivalents represent highly liquid investments, with original maturities of 90 days or less, primarily in bank deposits, U.S. treasury bill money market funds and commercial paper. Investments with longer maturities are classified as investments, and are held primarily in U.S. treasury bills, U.S. dollar-denominated treasury bills and commercial paper, bank deposits and corporate debt securities. Investments are classified as available-for-sale (“AFS”) debt securities. If the AFS debt security’s fair value exceeds the security’s amortized cost the unrealized gain is recognized in accumulated other comprehensive loss in stockholders’ equity (deficit), net of the related tax effects. If the AFS debt security’s fair value declines below its amortized cost the Company considers all available evidence to evaluate the extent to which the decline is due to credit-related factors or noncredit-related factors. If the decline is due to noncredit-related factors then no credit loss is recorded and the unrealized loss is recognized in accumulated other comprehensive income in stockholders’ equity, net of the related tax effects. If the decline is considered to be a credit-related impairment, it is recognized as an allowance on the consolidated balance sheet with a corresponding charge to the statement of operations. The credit allowance is limited to the difference between the fair value and the amortized cost basis. No credit-related allowances or impairments have been recognized on the Company’s investments in available-for-sale debt securities. The Company classifies its investments exclusive of those categorized as cash equivalents. 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 December 31, 2023 and 2022, $321 million out of $396 million and $472 million out of $481 million, respectively, of the Company’s total cash, cash equivalents and investments were held by foreign subsidiaries. In addition, $233 million out of $396 million and $336 million out of $481 million of cash, cash equivalents and investments were held in currencies other than the U.S. dollar at December 31, 2023 and 2022, 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 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 twelve months ended December 31, 2023, 2022 and 2021 (in thousands): Balance at Additions Deductions Balance at End of Period Allowance for Credit Losses December 31, 2023 $ 14,311 $ 8,120 $ (3,096 ) $ 19,335 December 31, 2022 $ 13,228 $ 6,509 $ (5,426 ) $ 14,311 December 31, 2021 $ 14,381 $ 5,380 $ (6,533 ) $ 13,228
Concentration of Credit Risk	Concentration of Credit Risk The Company sells its products and services to a significant number of large and small customers throughout the world, with net sales to the pharmaceutical industry of approximately 57%, 59% and 60% in 2023, 2022 and 2021, respectively. None of the Company’s individual customers accounted for more than 2% of annual Company sales in 2023, 2022 or 2021. The Company performs continuing credit evaluations of its customers and generally does not require collateral, but in certain circumstances may require letters of credit or deposits. Historically, the Company has not experienced significant credit losses.
Inventory	Inventory The Company values all of its inventories at the lower of cost or net realizable value on a first-in, first-out
Income Taxes	Income Taxes As part of the process of preparing the consolidated financial statements, the Company is required to estimate its income taxes in each of the jurisdictions in which it operates. This process involves the Company estimating its income taxes, taking into account the amount, timing and character of taxable income, tax deductions and credits and assessing changes in tax laws, regulations, agreements and treaties. Differing treatment of items for tax and accounting purposes, such as depreciation, amortization and inventory reserves, result in deferred tax assets and liabilities, which are included within the consolidated balance sheets. In the event that actual results differ from these estimates, or the Company adjusts these estimates in future periods, such changes could materially impact the Company’s financial position and results of operations. The accounting standards for income taxes require that a company continually evaluate the necessity of establishing or changing a valuation allowance for deferred tax assets depending on whether it is more likely than not that the actual benefit of those assets will be realized in future periods. 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 positions on the presumption that all concerned tax authorities possess full knowledge of those tax positions, as well as all of the pertinent facts and circumstances, but prohibit any discounting of unrecognized tax benefits associated with those positions for the time value of money. The Company classified interest and penalties related to unrecognized tax benefits as a component of the provision for income taxes.
Leases	Leases The Company’s lease portfolio consists primarily of operating leases. The Company’s operating leases consist of property leases for sales, demonstration, laboratory, warehouse and office spaces, automotive leases for sales and service personnel and equipment leases, primarily used in our manufacturing and distribution operations. The Company categorizes leases as either operating or finance leases at the commencement date of the lease. The Company does not have any material financing leases. The Company makes variable lease payments that do not depend on a rate or index, primarily for items such as real estate taxes and other expenses. These expenses are recorded as variable costs in the period incurred. For the years ended December 31, 2023, 2022 and 2021, variable costs incurred were not material. The Company’s lease agreements may include tenant improvement allowances, rent holidays, and/or contingent rent provisions as well as a certain number of these leases contain rental escalation clauses that are either fixed or adjusted periodically for inflation of market rates which are factored into our determination of lease payments at lease inception. The Company’s leases also sometimes include renewal options and/or termination options which are included in the determination of the lease term when they are reasonably certain to be exercised. The Company has lease agreements which contain lease and non-lease For leases with terms greater than 12 months, the Company records a right-of-use straight-line basis over the term of the lease. For the years ended December 31, 2023, 2022 and 2021, costs incurred related to short-term leases were not material. When available, the Company uses the rate implicit in the lease to discount lease payments to determine the present value of the lease liabilities; however, most of the leases do not provide a readily determinable implicit rate and, as required by the accounting guidance, the Company estimates its incremental secured borrowing rate to discount the lease payments based on information available at lease commencement (or, for the leases in existence on the adoption date, the January 1, 2019 information). The Company’s incremental borrowing rate reflects the estimated rate of interest that the Company would pay to borrow on a collateralized basis over a similar term to the lease payments in a similar economic environment.
Property, Plant and Equipment	Property, Plant and Equipment Property, plant and equipment are recorded at cost. Expenditures for maintenance and repairs are charged to expense, while the costs of significant improvements are capitalized. Depreciation is provided using the straight-line method over the following estimated useful lives: buildings — fifteen thirty-nine five
Asset Impairments	Asset Impairments The Company reviews its long-lived assets for impairment in accordance with the accounting standards for property, plant and equipment. Whenever events or circumstances indicate that the carrying amount of an asset may not be recoverable, the Company evaluates the recoverability of the carrying value of the asset based on the expected future cash flows, relying on a number of factors, including, but not limited to, operating results, business plans, economic projections and anticipated future cash flows. If the asset is deemed not recoverable, it is written down to fair value and the impairment is recorded in the consolidated statements of operations. During 2022, the Company recorded a total non-cash
Business Combinations and Asset Acquisitions	Business Combinations and Asset Acquisitions The Company accounts for business acquisitions under the accounting standards for business combinations. The results of each acquisition are included in the Company’s consolidated results as of the acquisition date and the purchase price of an acquisition is allocated to tangible and intangible assets and assumed liabilities based on their estimated fair values. Any excess of the fair value consideration transferred over the estimated fair values of the net assets acquired is recognized as goodwill. We use assumptions and estimates in determining the fair value of assets acquired and liabilities assumed. The determination of the fair value of intangible assets, which represents a significant portion of the purchase price in our recent acquisition of Wyatt, requires the use of significant judgment with regard to (i) the fair value; and (ii) whether such intangibles are amortizable or non-amortizable as In our recent acquisition of Wyatt, customer relationship intangible assets have been the most significant identifiable assets acquired. The customer relationships were valued using the multi-period excess earnings method under the income approach. Our cash
Goodwill and Other Intangible Assets	Goodwill and Other Intangible Assets Goodwill and indefinite-lived intangible assets are not amortized, but are evaluated for impairment on an annual basis, or on an interim basis when events or changes in circumstances indicate that the carrying value may not be recoverable. In assessing the recoverability of goodwill and indefinite-lived intangible assets, we must make assumptions regarding the estimated future cash flows, including forecasted revenue growth and the discount rate to determine the fair value of these assets. If these estimates or their related assumptions change in the future, we may be required to record impairment charges against these assets in the reporting period in which the impairment is determined. We test goodwill for impairment at the reporting unit level, which is the operating segment or one level below an operating segment. We have the option of performing a qualitative assessment to determine whether further impairment testing is necessary before performing the quantitative assessment. If as a result of the qualitative assessment, it is more-likely-than-not two The Company’s intangible assets include purchased technology; capitalized software; costs associated with acquiring Company patents, trademarks and intellectual properties, such as licenses; and acquired IPR&D. Purchased intangibles are recorded at their fair market values as of the acquisition date and amortized over their estimated useful lives, ranging from one one Goodwill totaled $1.3 billion and $430 million as of December 31, 2023 and 2022, respectively. Net intangible assets and long-lived assets amounted to $629 million and $639 million, as of December 31, 2023, respectively, and $227 million and $582 million as of December 31, 2022, respectively.
Software Development Costs	Software Development Costs The Company capitalizes internal and external software development costs for products offered for sale in accordance with the accounting standards for the costs of software to be sold, leased, or otherwise marketed. Capitalized costs are amortized to cost of sales over the period of economic benefit, which approximates a straight-line basis over the estimated useful lives of the related software products, generally three The Company capitalized $ million, $ million and $ million of direct expenses that were related to the development of software in 2023, 2022 and 2021, respectively. Net capitalized software included in intangible assets totaled $ million and $ million at December 31, 2023 and 2022, respectively. See Note 8, Goodwill and Other Intangibles. The Company capitalizes software development costs for internal use. Capitalized internal software development costs are amortized over the period of economic benefit, which approximates a straight-line basis over . Net capitalized internal software included in property, plant and equipment totaled $ million and $ million at December 31, 2023 and 2022, respectively.
Other Investments	Other Investments The Company accounts for its investments that represent less than twenty percent ownership, and for which the Company does not have the ability to exercise significant influence, using the accounting standards for investments in equity securities. Investments for which the Company does not have the ability to exercise significant influence, and for which there is not a readily determinable market value, are accounted for at cost, adjusted for subsequent observable price changes as applicable. The Company periodically evaluates the carrying value of its investments for which the Company does not have the ability to exercise significant influence, and for which there is not a readily determinable fair value and carries them at cost, less impairment, adjusted for subsequent observable price changes. For equity investments in which the Company has the ability to exercise significant influence over operating and financial policies of the investee, the equity method of accounting is used. The Company’s share of net income or losses of equity method investments is included in the consolidated statements of operations and was not material in any period presented. During the year ended 2023, the Company received $1 million in proceeds from, and made no investments in, unaffiliated companies. During the year ended December 31, 2022 the Company received $10 million in proceeds from unaf f In 2022, the Company recorded a realized gain of $7 million in other income (expense), net in the consolidated statement of operations due to the sales of various equity investments as well as incurring $6 million in impairment losses. The Company also recognized an additional $2 million non-cash In 2021, the Company recorded an unrealized gain of $10 million due to an observable change in the fair value of an existing investment the Company does not have the ability to exercise significant influence over.
Fair Value Measurements	Fair Value Measurements In accordance with the accounting standards for fair value measurements and disclosures, certain of the Company’s assets and liabilities are measured at fair value on a recurring basis as of December 31, 2023 and 2022. 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 December 31, 2023 (in thousands): Total at Quoted Prices Significant Significant Assets: Time deposits $ 898 $ —  $ 898 $ —  Waters 401(k) Restoration Plan assets 28,995 28,995 —  —  Foreign currency exchange contracts 183 —  183 —  Interest rate cross-currency swap agreements 4,835 —  4,835 —  Total $ 34,911 $ 28,995 $ 5,916 $ —  Liabilities: Foreign currency exchange contracts $ 207 $ —  $ 207 $ —  Interest rate cross-currency swap agreements 13,384 —  13,384 —  Interest rate swap cash flow hedge 2,974 —  2,974 —  Total $ 16,565 $ —  $ 16,565 $ —  The following table represents the Company’s assets and liabilities measured at fair value on a recurring basis at December 31, 2022 (in thousands): Total at Quoted Prices Significant Significant Assets: Time deposits $ 862 $ —  $ 862 $ —  Waters 401(k) Restoration Plan assets 25,532 25,532 —  —  Foreign currency exchange contracts 231 —  231 —  Interest rate cross-currency swap agreements 19,163 —  19,163 —  Total $ 45,788 $ 25,532 $ 20,256 $ —  Liabilities: Contingent consideration $ 1,509 $ —  $ —  $ 1,509 Foreign currency exchange contracts 98 —  98 —  Interest rate cross-currency swap agreements 4,783 —  4,783 —  Total $ 6,390 $ —  $ 4,881 $ 1,509 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, Interest Rate Cross-Currency Swaps Agreements and Interest Rate Swap Cash Flow Hedges The fair values of the Company’s cash equivalents, investments, foreign currency exchange contracts, interest rate cross-currency swap agreements and interest rate swap cash flow hedges 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 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. Fair Value of Other Financial Instruments The Company’s accounts receivable and accounts payable are recorded at cost, which approximates fair value due to their short-term nature. The carrying value of the Company’s variable interest rate debt approximates fair value due to the variable nature of the interest rate. The carrying value of the Company’s fixed interest rate debt was $1.3 billion at both December 31, 2023 and 2022. 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 $1.2 billion and $1.1 billion at December 31, 2023 and 2022, 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 and yen-denominated 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 Cash Flow Hedges The Company’s Credit Facility is a variable borrowing and has interest payments based on a contractually specified interest rate index. The contractually specified index on the Credit Facility is the 3-month lock-in de-designated Interest Rate Cross-Currency Swap Agreements As of December 31, 2023, the Company had entered into interest rate cross-currency swap derivative agreements with durations up to three years with an aggregate notional value of $ million to hedge the variability in the movement of foreign currency exchange rates on a portion of its euro-denominated and yen-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 other comprehensive loss in stockholders’ equity 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, interest rate cross-currency swap agreements and December 31, 2023 December 31, 2022 Notional Value Fair Value Notional Value Fair Value Foreign currency exchange contracts: Other current assets $ 24,155 $ 183 $ 42,047 $ 231 Other current liabilities $ 16,000 $ 207 $ 13,450 $ 98 Interest rate cross-currency swap agreements: Other assets $ 220,000 $ 4,835 $ 400,000 $ 19,163 Other liabilities $ 405,000 $ 13,384 $ 185,000 $ 4,783 Accumulated other comprehensive (loss) income $ (7,975 ) $ 10,026 Interest rate swap cash flow hedges: Other liabilities $ 100,000 $ 2,974 $ —  $ —  Accumulated other comprehensive (loss) income $ (2,974 ) $ —  The following is a summary of the activity included in the consolidated statements of operations and statements of comprehensive income related to the foreign currency exchange contracts, interest rate cross-currency swap agreements and interest rate swap agreements designated as cash flow hedges (in thousands): Financial Statement Classification Year Ended December 31, 2023 2022 2021 Foreign currency exchange contracts: Realized gains (losses) on closed contracts Cost of sales $ 224 $ (3,855 ) $ (1,973 ) Unrealized losses on open contracts Cost of sales (156 ) (176 ) (343 ) Cumulative net pre-tax Cost of sales $ 68 $ (4,031 ) $ (2,316 ) Interest rate cross-currency swap agreements: Interest earned Interest income $ 10,974 $ 8,872 $ 11,084 Unrealized (losses) gains on open contracts Accumulated other comprehensive loss $ (18,001 ) $ 25,969 $ 29,052 Interest rate swap cash flow hedges: Interest earned Interest income $ 326 $ —  $ —  Unrealized losses on open contracts Accumulated other comprehensive loss $ (2,974 ) $ —  $ —
Cash Flow Hedges	Cash Flow Hedges The Company’s Credit Facility is a variable borrowing and has interest payments based on a contractually specified interest rate index. The contractually specified index on the Credit Facility is the 3-month lock-in de-designated
Stockholders' Equity	Stockholders’ Equity In December 2023, the Company’s Board of Directors authorized the extension of the existing share repurchase program through January 21, 2025. The Company’s remaining authorization is $ 1.0 b
Revenue Recognition	Revenue Recognition The Company recognizes revenue upon transfer of control of promised products and services to customers in an amount that reflects the consideration the Company expects to receive in exchange for those products or services. The Company generally enters into contracts that include a combination of products and services. Revenue is allocated to distinct performance obligations and is recognized net of allowances for returns and discounts. The Company recognizes revenue on product sales at the time control of the product transfers to the customer. Certain of the Company’s customers have terms where control of the product transfers to the customer on shipment, while others have terms where control transfers to the customer on delivery. All incremental costs of obtaining a contract are expensed as and when incurred if the expected amortization period of the asset that would have been recognized is one year or less. Shipping and handling costs are included as a component of cost of sales. In situations where the control of the goods transfers prior to the completion of the Company’s obligation to ship the products to its customers, the Company has elected the practical expedient to account for the shipping services as a fulfillment cost. Accordingly, such costs are recognized when control of the related goods is transferred to the customer. In more rare situations, the Company has revenue associated with products that contain specific customer acceptance criteria and the related revenue is not recognized before the customer acceptance criteria are satisfied. The Company elected to exclude from the measurement of the transaction price all taxes assessed by a governmental authority that are both imposed on and concurrent with specific revenue-producing transactions and collected by the Company from a customer. Generally, the Company’s contracts for products include a performance obligation related to installation. The Company has determined that the installation represents a distinct performance obligation and revenue is recognized separately upon the completion of installation. The Company determines the amount of the transaction price to allocate to the installation service based on the standalone selling price of the product and the service, which requires judgment. The Company determines the relative standalone selling price of installation based upon a number of factors, including hourly service billing rates and estimated installation hours. In developing these estimates, the Company considers past history, competition, billing rates of current services and other factors. The Company has sales from standalone software, which are included in product revenue. These arrangements typically include software licenses and maintenance contracts, both of which the Company has determined are distinct performance obligations. The Company determines the amount of the transaction price to allocate to the license and maintenance contract based on the relative standalone selling price of each performance obligation. Software license revenue is recognized at the point in time when control has been transferred to the customer. The revenue allocated to the software maintenance contract is recognized on a straight-line basis over the maintenance period, which is the contractual term of the contract, as a time-based measure of progress best reflects the Company’s performance in satisfying this obligation. Unspecified rights to software upgrades are typically sold as part of the maintenance contract on a when-and-if-available Payment terms and conditions vary among the Company’s revenue streams, although terms generally include a requirement of payment within 30 to 60 days of product shipment. Prior to providing payment terms to customers, an evaluation of their credit risk is performed. Returns and customer credits are infrequent and insignificant and are recorded as a reduction to sales. Rights of return are not included in sales arrangements and, therefore, there is minimal variable consideration included in the transaction price of our products. Service revenue includes (1) service and software maintenance contracts and (2) service calls (time and materials). Instrument service contracts and software maintenance contracts are typically annual contracts, which are billed at the beginning of the contract or maintenance period. The amount of the service and software maintenance contract is recognized on a straight-line basis to revenue over the maintenance service period, which is the contractual term of the contract, as a time-based measure of progress best reflects the Company’s performance in satisfying this obligation. There are no deferred costs associated with the service contract, as the cost of the service is recorded when the service is performed. Service calls are recognized to revenue at the time a service is performed.
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 twelve months ended December 31, 2023, 2022 and 2021 (in thousands): Balance at Accruals for Settlements Balance at Accrued warranty liability: December 31, 2023 $ 11,949 $ 7,727 $ (7,626 ) $ 12,050 December 31, 2022 $ 10,718 $ 10,067 $ (8,836 ) $ 11,949 December 31, 2021 $ 10,950 $ 8,799 $ (9,031 ) $ 10,718
Advertising Costs	Advertising Costs All advertising costs are expensed as incurred and are included in selling and administrative expenses in the consolidated statements of operations. Advertising expenses were $7 million for the years ended December 31, 2023, 2022 and 2021.
Research and Development Expenses	Research and Development Expenses Research and development expenses are comprised of costs incurred in performing research and development activities, including salaries and benefits, facilities costs, overhead costs, contract services and other outside costs. Research and development expenses are expensed as incurred.
Stock-Based Compensation	Stock-Based Compensation The Company has two stock-based compensation plans, which are described in Note 14, “Stock-Based Compensation”.
Earnings Per Share	Earnings Per Share In accordance with the earnings per share accounting standards, the Company presents two earnings per share (“EPS”) amounts. Income per basic common share is based on income available to common shareholders and the weighted-average number of common shares outstanding during the periods presented. Income per diluted common share includes additional dilution from potential common stock, such as stock issuable pursuant to the exercise of stock options outstanding.
Retirement Plans	Retirement Plans The Company sponsors various retirement plans, which are described in Note 17, “Retirement Plans”.
Comprehensive Income	Comprehensive Income The Company accounts for comprehensive income in accordance with the accounting standards for comprehensive income, which establish the accounting rules for reporting and displaying comprehensive income. These standards require that all components of comprehensive income be reported in a financial statement that is displayed with the same prominence as other financial statements.
Restructuring	Restructuring In July 2023, the Company made organizational changes to better align its resources with its growth and innovation strategies, resulting in a worldwide workforce reduction, that has impacted approximately 5% of the Company’s employees. During 2023, the Company incurred $26 million of severance-related costs in connection with this reduction, which was recorded in selling and administrative expenses in the consolidated statement of operations. During 2023, the Company paid $ million of these costs with the majority of the remaining costs to be paid in the first half of 2024.
New Accounting Pronouncements	Recently Adopted Accounting Standards In October 2021, accounting guidance was issued that requires acquirers in a business combination to recognize and measure contract assets and contract liabilities acquired in a business combination in accordance with Topic 606. The new guidance requires that at the acquisition date, the acquirer should account for the related revenue contracts in accordance with 606 as if it had originated the contracts. This guidance differs from current GAAP which requires an acquirer to recognize assets acquired and liabilities assumed in a business combination, including contract assets and contract liabilities arising from revenue contracts with customers and other similar contracts that are accounted for in accordance with 606, at fair value on the acquisition date. This guidance is effective for public business entities for fiscal years beginning after December 15, 2022, including interim periods within those years. The Company adopted this standard on January 1, 2023. 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, an update was issued to clarify that certain optional expedients and exceptions under the reference rate reform guidance for contract modifications and hedge accounting apply to derivatives that are affected by the discounting transition. Specifically, certain provisions in the reference rate reform guidance, if elected by an entity, apply to derivative instruments that use an interest rate for margining, discounting, or contract price alignment that is modified as a result of reference rate reform. This temporary guidance is effective for all entities as of March 12, 2020, through December 31, 2022. In December 2022, an update was issued because the cessation date for overnight LIBOR rates being published was extended to June 30, 2023, which was beyond the current expiration date of this guidance. The update extended the sunset date to December 31, 2024. The Company may elect to apply this guidance for all contract modifications or eligible hedging relationships during that time period subject to certain criteria. The Company does not believe that it has material reference rate exposure which would require utilizing the guidance under this accounting pronouncement and if adopted does not believe that this standard would have a material impact on the Company’s financial position, results of operations and cash flows. In November 2023, accounting guidance was issued that requires additional disclosures of reportable segment information. The guidance requires that public entities disclose, on an annual and interim basis (1) significant segment expenses that are regularly provided to the chief operating decision maker (“CODM”) and included within each reported measure of segment profit or loss, (2) an amount for other segment items by reportable segment and a description of its composition (the other segment items category is the difference between segment revenue less the segment expenses disclosed under the significant expense principle and each reported measure of segment profit or loss), (3) provide all annual disclosures about a reportable segment’s profit or loss and assets currently required by Topic 280 in interim periods, (4) clarify that if the CODM uses more than one measure of a segment’s profit or loss in assessing segment performance and deciding how to allocate resources, a public entity may report one or more of those additional measures of segment profit. However, at least one of the reported segment profit or loss measures (or the single reported measure, if only one is disclosed) should be the measure that is most consistent with the measurement principles used in measuring the corresponding amounts in the public entity’s consolidated financial statements, (5) the title and position of the CODM and an explanation of how the CODM uses the reported measure(s) of segment profit or loss in assessing segment performance and deciding how to allocate resources, and (6) if a public entity has a single reportable segment to provide all the disclosures required by the amendments in this update and all existing segment disclosures in Topic 280. The amendments in this update do not change how operating segments are identified or aggregated nor how the quantitative thresholds are applied to determine its reportable segments. The amendments in this update are effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024. Early adoption is permitted. The amendments in this update should be applied retrospectively to all prior periods presented in the financial statements. Upon transition, the segment expense categories and amounts disclosed in the prior periods should be based on the significant segment expense categories identified and disclosed in the period of adoption. The Company does not believe this accounting standard update will have material impact on the Company’s financial position, results of operations and cash flows. The Company is currently evaluating the impact the adoption of this accounting standard update will have on our footnote disclosures. In December 2023, accounting guidance was issued to enhance the transparency and decision usefulness of income tax disclosures. The amendments in this update change disclosure requirements related to the rate reconciliation, income taxes paid and other disclosures. For the rate reconciliation the amendments require that public business entities on an annual basis (1) disclose specific categories in the rate reconciliation and (2) provide additional information for reconciling items that meet a quantitative threshold. For income taxes paid the amendments require that all entities disclose on an annual basis the following information; (1) the amount of income taxes paid (net of refunds received) disaggregated by federal (national), state, and foreign taxes, (2) the amount of income taxes paid (net of refunds received) disaggregated by individual jurisdictions in which income taxes paid (net of refunds received) is equal to or greater than 5 percent of total income taxes paid (net of refunds received). Finally, for other disclosures the amendments require that all entities disclose the following information: (1) income (or loss) from continuing operations before income tax expense (or benefit) disaggregated between domestic and foreign, and (2) income tax expense (or benefit) from continuing operations disaggregated by federal (national), state, and foreign. This update also eliminates the requirement for all entities to (1) disclose the nature and estimate of the range of the reasonably possible change in the unrecognized tax benefits balance in the next 12 months or (2) make a statement that an estimate of the range cannot be made. As well as removing the requirement to disclose the cumulative amount of each type of temporary difference when a deferred tax liability is not recognized because of the exceptions to comprehensive recognition of deferred taxes related to subsidiaries and corporate joint ventures. The amendments in this update are effective for annual periods beginning after December 15, 2024. Early adoption is permitted for annual financial statements that have not yet been issued or made available for issuance. The amendments in this update should be applied on a prospective basis and retrospective application is permitted. The Company does not believe this accounting standard update will have material impact on the Company’s financial position, results of operations and cash flows. The Company is currently evaluating the impact the adoption of this accounting standard update will have on our footnote disclosures.

Basis of Presentation and Sum_3

Basis of Presentation and Summary of Significant Accounting Policies (Tables)	12 Months Ended
	Dec. 31, 2023
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 twelve months ended December 31, 2023, 2022 and 2021 (in thousands): Balance at Additions Deductions Balance at End of Period Allowance for Credit Losses December 31, 2023 $ 14,311 $ 8,120 $ (3,096 ) $ 19,335 December 31, 2022 $ 13,228 $ 6,509 $ (5,426 ) $ 14,311 December 31, 2021 $ 14,381 $ 5,380 $ (6,533 ) $ 13,228
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 December 31, 2023 (in thousands): Total at Quoted Prices Significant Significant Assets: Time deposits $ 898 $ —  $ 898 $ —  Waters 401(k) Restoration Plan assets 28,995 28,995 —  —  Foreign currency exchange contracts 183 —  183 —  Interest rate cross-currency swap agreements 4,835 —  4,835 —  Total $ 34,911 $ 28,995 $ 5,916 $ —  Liabilities: Foreign currency exchange contracts $ 207 $ —  $ 207 $ —  Interest rate cross-currency swap agreements 13,384 —  13,384 —  Interest rate swap cash flow hedge 2,974 —  2,974 —  Total $ 16,565 $ —  $ 16,565 $ —  The following table represents the Company’s assets and liabilities measured at fair value on a recurring basis at December 31, 2022 (in thousands): Total at Quoted Prices Significant Significant Assets: Time deposits $ 862 $ —  $ 862 $ —  Waters 401(k) Restoration Plan assets 25,532 25,532 —  —  Foreign currency exchange contracts 231 —  231 —  Interest rate cross-currency swap agreements 19,163 —  19,163 —  Total $ 45,788 $ 25,532 $ 20,256 $ —  Liabilities: Contingent consideration $ 1,509 $ —  $ —  $ 1,509 Foreign currency exchange contracts 98 —  98 —  Interest rate cross-currency swap agreements 4,783 —  4,783 —  Total $ 6,390 $ —  $ 4,881 $ 1,509
Summary of Foreign Currency Exchange Contracts and Interest Rate Cross-Currency Swap Agreements	The Company’s foreign currency exchange contracts, interest rate cross-currency swap agreements and December 31, 2023 December 31, 2022 Notional Value Fair Value Notional Value Fair Value Foreign currency exchange contracts: Other current assets $ 24,155 $ 183 $ 42,047 $ 231 Other current liabilities $ 16,000 $ 207 $ 13,450 $ 98 Interest rate cross-currency swap agreements: Other assets $ 220,000 $ 4,835 $ 400,000 $ 19,163 Other liabilities $ 405,000 $ 13,384 $ 185,000 $ 4,783 Accumulated other comprehensive (loss) income $ (7,975 ) $ 10,026 Interest rate swap cash flow hedges: Other liabilities $ 100,000 $ 2,974 $ —  $ —  Accumulated other comprehensive (loss) income $ (2,974 ) $ —
Gains (Losses) on Foreign Exchange Contracts	The following is a summary of the activity included in the consolidated statements of operations and statements of comprehensive income related to the foreign currency exchange contracts, interest rate cross-currency swap agreements and interest rate swap agreements designated as cash flow hedges (in thousands): Financial Statement Classification Year Ended December 31, 2023 2022 2021 Foreign currency exchange contracts: Realized gains (losses) on closed contracts Cost of sales $ 224 $ (3,855 ) $ (1,973 ) Unrealized losses on open contracts Cost of sales (156 ) (176 ) (343 ) Cumulative net pre-tax Cost of sales $ 68 $ (4,031 ) $ (2,316 ) Interest rate cross-currency swap agreements: Interest earned Interest income $ 10,974 $ 8,872 $ 11,084 Unrealized (losses) gains on open contracts Accumulated other comprehensive loss $ (18,001 ) $ 25,969 $ 29,052 Interest rate swap cash flow hedges: Interest earned Interest income $ 326 $ —  $ —  Unrealized losses on open contracts Accumulated other comprehensive loss $ (2,974 ) $ —  $ —
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 twelve months ended December 31, 2023, 2022 and 2021 (in thousands): Balance at Accruals for Settlements Balance at Accrued warranty liability: December 31, 2023 $ 11,949 $ 7,727 $ (7,626 ) $ 12,050 December 31, 2022 $ 10,718 $ 10,067 $ (8,836 ) $ 11,949 December 31, 2021 $ 10,950 $ 8,799 $ (9,031 ) $ 10,718

Revenue Recognition (Tables)

Revenue Recognition (Tables)	12 Months Ended
	Dec. 31, 2023
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 twelve months ended December 31, 2023, 2022 and 2021 (in thousands): December 31, 2023 2022 2021 Balance at the beginning of the period $ 285,175 $ 273,598 $ 239,759 Recognition of revenue included in balance at beginning of the period (240,808 ) (230,615 ) (216,920 ) Revenue deferred during the period, net of revenue recognized 279,149 242,192 250,759 Balance at the end of the period $ 323,516 $ 285,175 $ 273,598
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): December 31, 2023 Deferred revenue and customer advances expected to be recognized in: One year or less $ 256,675 13-24 39,326 25 months and beyond 27,515 Total $ 323,516

Inventories (Tables)

Inventories (Tables)	12 Months Ended
	Dec. 31, 2023
Inventory Disclosure [Abstract]
Inventory, Net of Reserves	Inventories are classified as follows (in thousands): December 31, 2023 December 31, 2022 Raw materials $ 233,952 $ 205,760 Work in progress 20,198 19,899 Finished goods 262,086 230,051 Total inventories $ 516,236 $ 455,710

Property, Plant and Equipment (

Property, Plant and Equipment (Tables)	12 Months Ended
	Dec. 31, 2023
Property, Plant and Equipment [Abstract]
Summary of Property, Plant and Equipment	Property, plant and equipment consist of the following (in thousands): December 31, 2023 2022 Land and land improvements $ 35,635 $ 34,663 Buildings and leasehold improvements 488,667 444,994 Production and other equipment 748,411 640,460 Construction in progress 118,492 164,222 Total property, plant and equipment 1,391,205 1,284,339 Less: accumulated depreciation and amortization (752,132 ) (702,122 ) Property, plant and equipment, net $ 639,073 $ 582,217

Acquisitions (Tables)

Acquisitions (Tables)	12 Months Ended
	Dec. 31, 2023
Business Combination, Recognized Identifiable Assets Acquired, Goodwill, and Liabilities Assumed, Less Noncontrolling Interest [Abstract]
Summary of business combination assets acquired liabilities assumed	The following table presents the preliminary allocation of the purchase price to the estimated fair values of the assets acquired and liabilities assumed on the closing date of May 16, 2023 (in thousands): Purchase Price Cash paid $ 1,307,978 Less: cash acquired (25,624 ) Net cash consideration 1,282,354 Identifiable Net Assets (Liabilities) Acquired Accounts receivable 20,099 Inventory 14,706 Deferred tax assets 11,335 Prepaid and other assets 1,096 Property, plant and equipment 9,056 Operating lease assets 5,204 Intangible assets 418,100 Accounts payable and accrued expenses (31,664 ) Operating lease liabilities (5,204 ) Tax liabilities (3,917 ) Deferred revenue (15,219 ) Other liabilities (5,728 ) Total identifiable net assets acquired 417,864 Goodwill 864,490 Cash consideration paid $ 1,282,354
Summary of the purchase price allocated to the intangible assets acquired and the estimated useful lives	The details of the purchase price allocated to the intangible assets acquired and the estimated useful lives are as follows (dollars in thousands): Amount Weighted-Average Developed technology $ 80,000 10 years Customer relationships 330,600 10 years Trade name 7,500 5 years Total $418,100
Summary of Business Acquisition Pro Forma Information	The following unaudited pro forma information shows the results of the Company’s operations for the twelve months ended December 31, 2023 and 2022, as if the acquisition had occurred on January 1, 2022 (in thousands): December 31, 2023 December 31, 2022 Revenue $ 2,995,001 $ 3,086,281 Net income 658,431 651,869

Goodwill and Other Intangibles

Goodwill and Other Intangibles (Tables)	12 Months Ended
	Dec. 31, 2023
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): December 31, 2023 December 31, 2022 Gross Accumulated Weighted- Gross Accumulated Weighted- Capitalized software $ 660,273 $ 495,317 5 $ 589,604 $ 441,414 5 Purchased intangibles 614,357 197,154 10 197,805 166,735 11 Trademarks 9,680 —  —  9,680 —  —  Licenses 14,798 8,429 7 14,070 6,729 6 Patents and other intangibles 111,962 80,983 8 104,139 73,021 8 Total $ 1,411,070 $ 781,883 7 $ 915,298 $ 687,899 7

Debt (Tables)

Debt (Tables)	12 Months Ended
	Dec. 31, 2023
Debt Disclosure [Abstract]
Summary of Senior Unsecured Notes Issued	On May 11, 2023, the Company issued the following senior unsecured notes: Senior Unsecured Notes Term Interest Rate Face Value (in millions) Maturity Date Series P 5 years 4.91% $50 May Series Q 7 years 4.91% $50 May
Summary of Outstanding Debt	The Company had the following outstanding debt at December 31, 2023 and 2022 (in thousands): December 31, 2023 December 31, 2022 Senior unsecured notes - Series I - 3.13%, due May 2023 $ —  $ 50,000 Senior unsecured notes - Series G - 3.92%, due June 2024 50,000 —  Total notes payable and debt, current 50,000 50,000 Senior unsecured notes - Series G - 3.92%, due June 2024 —  50,000 Senior unsecured notes - Series H - floating rate*, due June 2024 —  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 100,000 100,000 Senior unsecured notes - Series O - 2.25%, due March 2031 400,000 400,000 Senior unsecured notes - Series P - 4.91%, due May 2028 50,000 —  Senior unsecured notes - Series Q - 4.91%, due May 2030 50,000 —  Credit agreement 1,050,000 270,000 Unamortized debt issuance costs (4,487 ) (5,122 ) Total long-term debt 2,305,513 1,524,878 Total debt $ 2,355,513 $ 1,574,878 * Series H senior unsecured notes bear interest at a 3-month
Schedule of Debt Maturities	Annual maturities of debt outstanding at December 31, 2023 are as follows (in thousands): Total 2024 $ 50,000 2025 —  2026 1,510,000 2027 —  2028 50,000 Thereafter 750,000 Total $ 2,360,000

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2023
Income Tax Disclosure [Abstract]
Schedule of Income Before Income Taxes	Income tax data for the years ended December 31, 2023, 2022 and 2021 is as follows (in thousands): Year Ended December 31, 2023 2022 2021 The components of income before income taxes are as follows: Domestic $ 74,119 $ 133,816 $ 144,410 Foreign 662,124 704,030 661,783 Total $ 736,243 $ 837,846 $ 806,193
Components of Income Taxes	Year Ended December 31, 2023 2022 2021 The components of the income tax provision were as follows: Federal $ 178 $ 62,153 $ 16,302 State 6,427 8,025 3,691 Foreign 88,601 91,901 76,724 Total current tax provision $ 95,206 $ 162,079 $ 96,717 Federal $ (2,457 ) $ (26,551 ) $ 10,491 State (3,029 ) (4,420 ) 345 Foreign 4,289 (1,017 ) 5,797 Total deferred tax provision (1,197 ) (31,988 ) 16,633 Total provision $ 94,009 $ 130,091 $ 113,350
Effective Income Tax Rate Reconciliation	The differences between income taxes computed at the United States statutory rate and the provision for income taxes are summarized as follows for the years ended December 31, 2023, 2022 and 2021 (in thousands): Year Ended December 31, 2023 2022 2021 Federal tax computed at U.S. statutory income tax rate $ 154,611 $ 175,948 $ 169,300 GILTI, net of foreign tax credits 15,103 17,812 10,476 Uncertain tax positions (16,211 ) 1,051 508 State income tax, net of federal income tax benefit 2,880 3,605 4,037 Net effect of foreign operations (48,587 ) (55,273 ) (56,214 ) Effect of stock-based compensation (2,262 ) (7,341 ) (6,682 ) Other, net (11,525 ) (5,711 ) (8,075 ) Provision for income taxes $ 94,009 $ 130,091 $ 113,350
Components of Deferred Tax Assets and Liabilities	The tax effects of temporary differences and carryforwards which give rise to deferred tax assets and deferred tax liabilities are summarized as follows (in thousands): December 31, 2023 2022 Deferred tax assets: Net operating losses and credits $ 54,901 $ 51,945 Depreciation 1,517 18 Operating leases 20,307 19,771 Amortization 5,905 2,713 Stock-based compensation 7,754 7,947 Deferred compensation 14,886 23,488 Deferred revenue 17,127 13,555 Revaluation of equity investments and licenses 1,884 23 Inventory 7,534 6,463 Accrued liabilities and reserves 5,720 4,815 Capitalized interest 12,586 —  Unrealized foreign currency gain/loss 700 1,858 Capitalized Section 174 Expenditures 34,487 34,234 Other 5,086 1,098 Total deferred tax assets 190,394 167,928 Valuation allowance (57,873 ) (54,300 ) Deferred tax 132,521 113,628 Deferred tax liabilities: Capitalized software (29,281 ) (25,429 ) Operating leases (20,117 ) (19,543 ) Indefinite-lived intangibles (14,824 ) (16,057 ) Deferred tax liability on foreign earnings (20,374 ) (18,677 ) Total deferred tax liabilities (84,596 ) (79,706 ) Net deferred tax assets $ 47,925 $ 33,922
Unrecognized Tax Benefits	The Company continues to classify interest and penalties related to unrecognized tax benefits as a component of the provision for income taxes. 2023 2022 2021 Balance at the beginning of the period $ 29,019 $ 28,692 $ 28,666 Net reductions for settlement of tax audits (17,651 ) —  (1,300 ) Net reductions for lapse of statutes taken during the period (512 ) (818 ) (433 ) Net additions for tax positions taken during the prior period 2,473 —  —  Net additions for tax positions taken during the current period 994 1,145 1,759 Balance at the end of the period $ 14,323 $ 29,019 $ 28,692
Company's valuation allowance	The following is a summary of the activity of the Company’s valuation allowance for the years ended December 31, 2023, 2022 and 2021 (in thousands): Balance at Charged to Other** Balance at Valuation allowance for deferred tax assets: 2023 $ 54,300 $ 1,467 $ 2,106 $ 57,873 2022 $ 58,834 $ (1,647 ) $ (2,887 ) $ 54,300 2021 $ 60,101 $ 2,919 $ (4,186 ) $ 58,834 * These amounts have been recorded as part of the income statement provision for income taxes. The income statement effects of these amounts have largely been offset by amounts related to changes in other deferred tax balance sheet accounts. ** The changes in the valuation allowance during the years ended December 31, 2023, 2022 and 2021 are primarily due to the effect of foreign currency translation on a valuation allowance related to a net operating loss carryforward.

Leases (Tables)

Leases (Tables)	12 Months Ended
	Dec. 31, 2023
Leases [Abstract]
Schedule of Right-of-Use Lease Assets and Lease Liabilities	The Company’s right-of-use December 31, Financial Statement Classification 2023 2022 Assets: Property operating lease assets Operating lease assets $ 55,006 $ 54,930 Automobile operating lease assets Operating lease assets 28,675 30,582 Equipment operating lease assets Operating lease assets 910 994 Total lease assets $ 84,591 $ 86,506 Liabilities: Current operating lease liabilities Current operating lease liabilities $ 27,825 $ 26,429 Long-term operating lease liabilities Long-term operating lease liabilities 58,926 62,108 Total lease liabilities $ 86,751 $ 88,537
Supplemental Information Relaing To Operating Leases	Undiscounted future minimum rents payable as of December 31, 2023 under non-cancelable 2024 $ 30,344 2025 24,570 2026 18,321 2027 10,752 2028 3,848 2029 and thereafter 5,215 Total future minimum lease payments 93,050 Less: amount of lease payments representing interest (6,299 ) Present value of future minimum lease payments 86,751 Less: current operating lease liabilities (27,825 ) Long-term operating lease liabilities $ 58,926

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	12 Months Ended
	Dec. 31, 2023
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Schedule of Stock-Based Compensation Expense	The consolidated statements of operations for the years ended December 31, 2023, 2022 and 2021 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): 2023 2022 2021 Cost of sales $ 2,014 $ 3,498 $ 2,500 Selling and administrative expenses 31,012 32,192 21,727 Research and development expenses 3,842 6,874 5,691 Total stock-based compensation $ 36,868 $ 42,564 $ 29,918
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 twelve months ended December 31, 2023, 2022 and 2021 are as follows: Options Issued and Significant Weighted-Average Assumptions Used to Estimate Option Fair Values 2023 2022 2021 Options issued in thousands 132 138 160 Risk-free interest rate 3.9 % 2.0 % 0.8 % Expected life in years 6 6 6 Expected volatility 31.1 % 30.7 % 32.4 % Expected dividends —  —  —  Weighted-Average Exercise Price and Fair Value of Options on the Date of Grant 2023 2022 2021 Exercise price $ 331.76 $ 321.15 $ 281.33 Fair value $ 126.73 $ 107.99 $ 91.48
Stock Options Outstanding Roll Forward	The following table summarizes stock option activity for the plans for the twelve months ended December 31, 2023 (in thousands, except per share data): Number of Shares Exercise Price per Share Weighted- Outstanding at December 31, 2022 597 $ 99.22 to $ 371.64 $ 238.43 Granted 132 $ 253.64 to $ 345.59 $ 331.76 Exercised (99 ) $ 99.22 to $ 314.98 $ 178.31 Canceled (43 ) $ 195.75 to $ 345.59 $ 291.54 Outstanding at December 31, 2023 587 $ 113.88 to $ 371.64 $ 265.17
Stock Options Outstanding by Exercise Price Range	The following table details the options outstanding at December 31, 2023 by range of exercise prices (in thousands, except per share data): Exercise Price Range Number of Shares Weighted- Remaining Number of Shares Weighted- $113.88 to $235.06 192 $ 187.37 4.7 150 $ 181.57 $235.07 to $303.64 166 $ 267.95 6.8 80 $ 262.92 $303.65 to $371.64 229 $ 328.38 8.6 29 $ 331.66 Total 587 $ 265.17 6.8 259 $ 223.37
Restricted Stock Units Unvested Roll Forward	The following table summarizes the unvested restricted stock unit award activity for the twelve months ended December 31, 2023 (in thousands, except per share data): Shares Weighted-Average Unvested at December 31, 2022 238 $ 273.60 Granted 100 $ 319.28 Vested (74 ) $ 254.61 Forfeited (29 ) $ 288.50 Unvested at December 31, 2023 235 $ 297.18
Relevant Data Used to Determine the Value of Performance Shares	The relevant data used to determine the value of Performance Stock Units Issued and Significant Assumptions Used to Estimate Fair Values 2023 2022 2021 Performance stock units issued in thousands 45 40 41 Risk-free interest rate 4.8 % 1.6 % 0.2 % Expected life in years 2.9 2.9 2.9 Expected volatility 33.3 % 25.4 % 38.7 % Average volatility of peer companies 32.8 % 34.5 % 34.7 % Correlation Coefficient 38.2 % 43.0 % 45.8 % Expected dividends —  —  —
Performance Stock Units Unvested Roll Forward	The following table summarizes the unvested performance stock unit award activity for the twelve months ended December 31, 2023 (in thousands, except per share data): Shares Weighted-Average Unvested at December 31, 2022 111 $ 297.55 Granted 45 $ 338.02 Vested (46 ) $ 208.35 Forfeited (17 ) $ 307.03 Change in performance shares in the year due to exceeding performance targets 15 $ 205.72 Unvested at December 31, 2023 108 $ 337.22

Earnings Per Share (Tables)

Earnings Per Share (Tables)	12 Months Ended
	Dec. 31, 2023
Earnings Per Share [Abstract]
Earnings Per Share Reconciliation	Basic and diluted EPS calculations are detailed as follows (in thousands, except per share data): Year Ended December 31, 2023 Net Income Weighted-Average Per (Numerator) (Denominator) Amount Net income per basic common share $ 642,234 59,076 $ 10.87 Effect of dilutive stock option, restricted stock, performance stock unit and restricted stock unit securities —  194 (0.03 ) Net income per diluted common share $ 642,234 59,270 $ 10.84 Year Ended December 31, 2022 Net Income Weighted-Average Per (Numerator) (Denominator) Amount Net income per basic common share $ 707,755 59,985 $ 11.80 Effect of dilutive stock option, restricted stock, performance stock unit and restricted stock unit securities —  346 (0.07 ) Net income per diluted common share $ 707,755 60,331 $ 11.73 Year Ended December 31, 2021 Net Income Weighted-Average Per (Numerator) (Denominator) Amount Net income per basic common share $ 692,843 61,575 $ 11.25 Effect of dilutive stock option, restricted stock, performance stock unit and restricted stock unit securities —  453 (0.08 ) Net income per diluted common share $ 692,843 62,028 $ 11.17

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Loss (Tables)	12 Months Ended
	Dec. 31, 2023
Equity [Abstract]
Schedule of Accumulated Other Comprehensive Income (Loss)	The components of accumulated other comprehensive loss are detailed as follows (in thousands): Currency Unrealized Gain Unrealized Unrealized Derivative Accumulated Balance at December 31, 2021 $ (99,985 ) $ (11,860 ) $ (20 ) $ —  $ (111,865 ) Other comprehensive (loss) income, net of tax (46,135 ) 16,408 20 —  (29,707 ) Balance at December 31, 2022 $ (146,120 ) $ 4,548 $ —  $ —  $ (141,572 ) Other comprehensive (loss) income, net of tax 17,761 (8,049 ) —  (2,260 ) 7,452 Balance at December 31, 2023 $ (128,359 ) $ (3,501 ) $ —  $ (2,260 ) $ (134,120 )

Retirement Plans (Tables)

Retirement Plans (Tables)	12 Months Ended
	Dec. 31, 2023
Retirement Benefits [Abstract]
Defined Benefit Plan, Projected Benefit Obligation	The reconciliation of the projected benefit obligations for the plans at December 31, 2023 and 2022 is as follows (in thousands): 2023 2022 U.S. Non-U.S. U.S. Non-U.S. Projected benefit obligation, January 1 $ 22,583 $ 74,025 $ 25,958 $ 106,924 Service cost 275 3,073 775 4,018 Employee contributions 1,105 601 1,139 536 Interest cost 1,262 2,797 706 1,360 Actuarial losses (gains) 2,166 11,387 (4,657 ) (27,494 ) Benefits paid (1,649 ) (2,051 ) (1,338 ) (3,567 ) Plan amendments —  (500 ) —  —  Plan settlements —  (488 ) —  (812 ) Currency impact —  3,547 —  (6,940 ) Projected benefit obligation, December 31 $ 25,742 $ 92,391 $ 22,583 $ 74,025
Defined Benefit Plan, Fair Value of Plan Assets	The reconciliation of the fair value of the plan assets at December 31, 2023 and 2022 is as follows (in thousands): 2023 2022 U.S. Non-U.S. U.S. Non-U.S. Healthcare Pension Healthcare Pension Plan Plans Plan Plans Fair value of plan assets, January 1 $ 15,724 $ 77,697 $ 18,314 $ 91,169 Actual return on plan assets 2,444 4,144 (2,895 ) (6,497 ) Company contributions 529 3,224 504 2,500 Employee contributions 1,105 601 1,139 536 Plan settlements —  (488 ) —  (812 ) Benefits paid (1,649 ) (2,051 ) (1,338 ) (3,567 ) Currency impact —  3,460 —  (5,632 ) Fair value of plan assets, December 31 $ 18,153 $ 86,587 $ 15,724 $ 77,697
Defined Benefit, Funded Status of Plan	The summary of the funded status for the plans at December 31, 2023 and 2022 is as follows (in thousands): 2023 2022 U.S. Non-U.S. U.S. Non-U.S. Healthcare Pension Healthcare Pension Plan Plans Plan Plans Projected benefit obligation $ (25,742 ) $ (92,391 ) $ (22,583 ) $ (74,025 ) Fair value of plan assets 18,153 86,587 15,724 77,697 Funded status $ (7,589 ) $ (5,804 ) $ (6,859 ) $ 3,672
Defined Benefit Plan, Amounts Recognized in Balance Sheet	The summary of the amounts recognized in the consolidated balance sheets for the plans at December 31, 2023 and 2022 is as follows (in thousands): 2023 2022 U.S. Non-U.S. U.S. Non-U.S. Healthcare Pension Healthcare Pension Plan Plans Plan Plans Long-term assets $ —  $ 5,220 $ —  $ 9,554 Long-term liabilities (7,589 ) (11,024 ) (6,859 ) (5,882 ) Net amount recognized at December 31 $ (7,589 ) $ (5,804 ) $ (6,859 ) $ 3,672
Summary of the Non-U.S. Pension Plans	The summary of the Non-U.S. Pension Plans that have accumulated benefit obligations in excess of plan assets at December 31, 2023 and 2022 is as follows (in thousands): 2023 2022 Accumulated benefit obligations $ 60,815 $ 16,962 Fair value of plan assets $ 52,894 $ 13,616 The summary of the Non-U.S. 2023 2022 Projected benefit obligations $ 63,918 $ 19,498 Fair value of plan assets $ 52,894 $ 13,616
Defined Benefit Plan, Net Periodic Benefit Cost	The summary of the components of net periodic pension costs for the plans for the years ended December 31, 2023, 2022 and 2021 is as follows (in thousands): 2023 2022 2021 U.S. Non-U.S. U.S. Non-U.S. U.S. Non-U.S. Service cost $ 275 $ 3,073 $ 775 $ 4,018 $ 884 $ 4,577 Interest cost 1,262 2,797 706 1,360 559 1,247 Expected return on plan assets (978 ) (2,653 ) (1,138 ) (1,972 ) (1,011 ) (1,835 ) Settlement loss —  221 —  73 —  77 Net amortization: Prior service credit (19 ) (105 ) (19 ) (129 ) (19 ) (87 ) Net actuarial (gain) loss —  (195 ) —  649 10 1,186 Net periodic pension cost $ 540 $ 3,138 $ 324 $ 3,999 $ 423 $ 5,165
Defined Beneift Plan, Amounts Recognized in Other Comprehensive Income (Loss)	The summary of the changes in amounts recognized in other comprehensive income (loss) for the plans for the years ended December 31, 2023, 2022 and 2021 is as follows (in thousands): 2023 2022 2021 U.S. Non-U.S. U.S. Non-U.S. U.S. Non-U.S. Prior service credit $ —  $ —  $ —  $ —  $ —  $ (69 ) Net (loss) gain arising during the year (699 ) (9,396 ) 623 19,025 1,524 6,708 Amortization: Prior service credit (19 ) (105 ) (19 ) (129 ) (19 ) (87 ) Net loss —  26 —  722 10 1,263 Currency impact —  (58 ) —  1,305 —  1,179 Total recognized in other comprehensive (loss) income $ (718 ) $ (9,533 ) $ 604 $ 20,923 $ 1,515 $ 8,994
Defined Benefit Plan, Accumulated Other Comprehensive Income	The summary of the amounts included in accumulated other comprehensive loss in stockholders’ equity for the plans at December 31, 2023 and 2022 is as follows (in thousands): 2023 2022 U.S. Non-U.S. U.S. Non-U.S. Net actuarial (loss) gain $ (964 ) $ (3,241 ) $ (266 ) $ 6,157 Prior service credit (cost) 17 (156 ) 36 (20 ) Total $ (947 ) $ (3,397 ) $ (230 ) $ 6,137
Defined Benefit Plan, Actual Plan Asset Allocations	The plans’ investment asset mix is as follows at December 31, 2023 and 2022: 2023 2022 U.S. Non-U.S. U.S. Non-U.S. Equity securities 70 % 4 % 77 % 5 % Debt securities 30 % 18 % 23 % 18 % Cash and cash equivalents 0 % 2 % 0 % 2 % Insurance contracts and other 0 % 76 % 0 % 75 % Total 100 % 100 % 100 % 100 %
Defined Benefit Plan, Target Asset Allocations	The plans’ investment policies include the following asset allocation guidelines: U.S. Retiree Healthcare Plan Non-U.S. Policy Target Policy Target Range Equity securities 60 % 30% - 90% 13 % Debt securities 35 % 20% - 50% 19 % Cash and cash equivalents 0 % 0% - 10% 8 % Insurance contracts and other 5 % 0% - 10% 60 %
Defined Benefit Plan, Fair Value Measurement of Plan Assets	The fair value of the Company’s retirement plan assets are as follows at December 31, 2023 (in thousands): Total at Quoted Prices Significant Significant U.S. Retiree Healthcare Plan: Mutual funds (a) 18,153 18,153 —  —  Total U.S. Retiree Healthcare Plan 18,153 18,153 —  —  Non-U.S. Cash equivalents (b) 1,611 1,611 —  —  Mutual funds (c) 18,785 18,785 —  —  Bank and insurance investment contracts (d) 66,191 —  —  66,191 Total Non-U.S. 86,587 20,396 —  66,191 Total fair value of retirement plan assets $ 104,740 $ 38,549 $ —  $ 66,191 The fair value of the Company’s retirement plan assets are as follows at December 31, 2022 (in thousands): Total at Quoted Prices (Level 1) Significant Significant (Level 3) U.S. Retiree Healthcare Plan: Mutual funds (e) 15,724 15,724 —  —  Total U.S. Retiree Healthcare Plan 15,724 15,724 —  —  Non-U.S. Cash equivalents (b) 1,527 1,527 —  —  Mutual funds (f) 18,176 18,176 —  —  Bank and insurance investment contracts (d) 57,994 —  —  57,994 Total Non-U.S. 77,697 19,703 —  57,994 Total fair value of retirement plan assets $ 93,421 $ 35,427 $ —  $ 57,994 a) The mutual fund balance in the U.S. Retiree Healthcare Plan is invested in the following categories: 41% in the common stock of large-cap b) Primarily represents deposit account funds held with various financial institutions. c) The mutual fund balance in the Non-U.S. d) Amount represents bank and insurance guaranteed investment contracts. e) The mutual fund balance in the U.S. Retiree Healthcare Plan is invested in the following categories: 49% in the common stock of large-cap f) The mutual fund balance in the Non-U.S.
Defined Benefit Plan, Fair Value of Plan Assets, Unobservable Input Reconciliation	The following table summarizes the changes in fair value of the Level 3 retirement plan assets for the years ended December 31, 2023 and 2022 (in thousands) : Insurance Fair value of assets, December 31, 2021 $ 65,945 Net purchases (sales) and appreciation (depreciation) (7,951 ) Fair value of assets, December 31, 2022 57,994 Net purchases (sales) and appreciation (depreciation) 8,197 Fair value of assets, December 31, 2023 $ 66,191
Defined Benefit Plan, Weighted-Average Assumptions Used in Calculating Benefit Obligation	The weighted-average assumptions used to determine the benefit obligation in the consolidated balance sheets at December 31, 2023, 2022 and 2021 are as follows: 2023 2022 2021 U.S. Non-U.S. U.S. Non-U.S. U.S. Non-U.S. Discount rate 5.18 % 2.97 % 5.42 % 3.82 % 2.70 % 1.40 % Increases in compensation levels * * 2.90 % * * 3.14 % * * 2.74 % Interest crediting rate 5.25 % 2.05 % 5.25 % 1.57 % 5.25 % 0.99 % ** Not applicable
Defined Benefit Plan, Weighted-Average Assumptions Used in Calculating Net Periodic Benefit Cost	The weighted-average assumptions used to determine the net periodic pension cost for the years ended December 31, 2023, 2022 and 2021 are as follows: 2023 2022 2021 U.S. Non-U.S. U.S. Non-U.S. U.S. Non-U.S. Discount rate 5.42 % 4.70 % 2.70 % 2.09 % 2.25 % 1.40 % Return on plan assets 6.25 % 3.95 % 6.25 % 3.07 % 6.25 % 2.58 % Increases in compensation levels * * 4.32 % * * 3.58 % * * 3.11 % Interest crediting rate 5.25 % 1.47 % 5.25 % 1.55 % 5.25 % 0.77 % ** Not applicable
Defined Benefit Plan, Estimated Future Benefit Payments	During U.S. Non-U.S. Total 2024 $ 1,959 $ 4,018 $ 5,977 2025 2,068 4,062 6,130 2026 2,153 3,376 5,529 2027 2,251 4,192 6,443 2028 2,444 5,420 7,864 2029 - 2033 13,807 26,732 40,539

Business Segment Information (T

Business Segment Information (Tables)	12 Months Ended
	Dec. 31, 2023
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 years ended December 31, 2023, 2022 and 2021 (in thousa nd 2023 2022 2021 Product net sales: Waters instrument systems $ 1,108,702 $ 1,210,456 $ 1,089,248 Chemistry consumables 541,469 525,399 507,209 TA instrument systems 252,879 252,314 225,613 Total product sales 1,903,050 1,988,169 1,822,070 Service net sales: Waters service 951,419 890,607 876,626 TA service 101,947 93,180 87,178 Total service sales 1,053,366 983,787 963,804 Total net sales $ 2,956,416 $ 2,971,956 $ 2,785,874
Summary of Geographic Sales Information	2023 2022 2021 Net Sales: Asia: China $ 440,707 $ 565,143 $ 521,128 Japan 167,202 167,220 182,597 Asia Other 399,916 399,380 372,040 Total Asia 1,007,825 1,131,743 1,075,765 Americas: United States 927,982 886,140 774,014 Americas Other 180,591 169,495 151,206 Total Americas 1,108,573 1,055,635 925,220 Europe 840,018 784,578 784,889 Total net sales $ 2,956,416 $ 2,971,956 $ 2,785,874
Summary of Net Sales by Customer Class	None of the Company’s individual customers accounts for more than 2% of annual Company sales. Net sales by customer class are as follows for the years ended December 31, 2023, 2022 and 2021 (in thousands): 2023 2022 2021 Pharmaceutical $ 1,696,875 $ 1,751,665 $ 1,667,061 Industrial 909,003 909,805 829,204 Academic and government 350,538 310,486 289,609 Total net sales $ 2,956,416 $ 2,971,956 $ 2,785,874 Net sales for the Company recognized at a point in time versus over time are as follows for the years ended December 31, 2023, 2022 and 2021 (in thousands):
Summary of Net Sales of Company Recognized at a Point in Time Versus Over Time	2023 2022 2021 Net sales recognized at a point in time: Instrument systems $ 1,361,581 $ 1,462,770 $ 1,314,861 Chemistry consumables 541,469 525,399 507,209 Service sales recognized at a point in time (time & materials) 372,530 367,501 354,666 Total net sales recognized at a point in time 2,275,580 2,355,670 2,176,736 Net sales recognized over time: Service and software maintenance sales recognized over time (contracts) 680,836 616,286 609,138 Total net sales $ 2,956,416 $ 2,971,956 $ 2,785,874
Revenue from External Customers by Geographic Area	Long-lived assets information at December 31, 2023, 2022 and 2021 is presented below (in thousands): December 31, 2023 2022 2021 Long-lived assets: United States $ 440,993 $ 429,469 $ 395,446 Americas Other 2,632 1,663 1,662 Total Americas 443,625 431,132 397,108 Europe 167,948 133,465 130,806 Asia 27,500 17,620 19,999 Total long-lived assets $ 639,073 $ 582,217 $ 547,913

Unaudited Quarterly Results (Ta

Unaudited Quarterly Results (Tables)	12 Months Ended
	Dec. 31, 2023
Quarterly Financial Data [Abstract]
Schedule of Unaudited Quarterly Results	The Company’s unaudited quarterly results are summarized below (in thousands, except per share data): First Second Third Fourth 2023 Quarter Quarter Quarter Quarter Total Net sales $ 684,674 $ 740,576 $ 711,692 $ 819,474 $ 2,956,416 Costs and operating expenses: Cost of sales 284,380 301,076 291,407 318,360 1,195,223 Selling and administrative expenses 181,956 186,953 186,748 180,357 736,014 Research and development expenses 42,691 45,873 41,995 44,386 174,945 Purchased intangibles amortization 1,479 6,815 12,116 12,148 32,558 Total costs and operating expenses 510,506 540,717 532,266 555,251 2,138,740 Operating income 174,168 199,859 179,426 264,223 817,676 Other income (expense), net 1,388 (352 ) 328 (557 ) 807 Interest expense (14,444 ) (23,272 ) (30,442 ) (30,703 ) (98,861 ) Interest income 4,061 4,040 3,883 4,637 16,621 Income before income taxes 165,173 180,275 153,195 237,600 736,243 Provision for income taxes 24,250 29,721 18,643 21,395 94,009 Net income $ 140,923 $ 150,554 $ 134,552 $ 216,205 $ 642,234 Net income per basic common share 2.39 2.56 2.28 3.66 10.87 Weighted-average number of basic common shares 59,023 58,857 59,093 59,142 59,076 Net income per diluted common share 2.38 2.55 2.27 3.65 10.84 Weighted-average number of diluted common shares and equivalents 59,317 59,010 59,225 59,311 59,270 First Second Third Fourth 2022 Quarter Quarter Quarter Quarter Total Net sales $ 690,572 $ 714,319 $ 708,555 $ 858,510 $ 2,971,956 Costs and operating expenses: Cost of sales 285,685 307,206 307,101 348,190 1,248,182 Selling and administrative expenses 157,475 161,877 164,417 174,257 658,026 Research and development expenses 40,472 44,006 43,435 48,277 176,190 Purchased intangibles amortization 1,673 1,598 1,592 1,503 6,366 Acquired in-process 9,797 —  —  —  9,797 Total costs and operating expenses 495,102 514,687 516,545 572,227 2,098,561 Operating income 195,470 199,632 192,010 286,283 873,395 Other income (expense), net 170 1,535 895 (372 ) 2,228 Interest expense (11,059 ) (11,419 ) (12,420 ) (13,899 ) (48,797 ) Interest income 2,114 2,526 2,896 3,484 11,020 Income before income taxes 186,695 192,274 183,381 275,496 837,846 Provision for income taxes 26,864 27,410 27,383 48,434 130,091 Net income $ 159,831 $ 164,864 $ 155,998 $ 227,062 $ 707,755 Net income per basic common share 2.64 2.74 2.61 3.83 11.80 Weighted-average number of basic common shares 60,580 60,206 59,801 59,329 59,985 Net income per diluted common share 2.62 2.72 2.60 3.81 11.73 Weighted-average number of diluted common shares and equivalents 60,952 60,510 60,081 59,644 60,331

Description of Business and O_2

Description of Business and Organization - Additional Information (Detail) $ in Billions	May 16, 2023 USD ($)
Wyatt Technology LLC [Member]
Nature Of Operations [Line Items]
Payments to acquire businesses, gross	$ 1.3

Basis of Presentation and Sum_4

Basis of Presentation and Summary of Significant Accounting Policies - Additional Information (Detail) shares in Millions	1 Months Ended	3 Months Ended	12 Months Ended
	Jul. 31, 2023	Mar. 31, 2021 USD ($)	Dec. 31, 2023 USD ($) Segment shares	Dec. 31, 2022 USD ($) shares	Dec. 31, 2021 USD ($) shares	May 16, 2023 USD ($)
Basis of Presentation and Summary of Significant Accounting Policies [Line Items]
Foreign currency transaction net gain (loss)			$ (16,000,000)	$ (31,000,000)	$ (5,000,000)
Cash equivalents description			Cash equivalents represent highly liquid investments, with original maturities of 90 days or less, primarily in bank deposits, U.S. treasury bill money market funds and commercial paper.
Cash, cash equivalents and investments			$ 396,000,000	481,000,000	481,000,000
Number of reporting units for goodwill impairment testing | Segment			2
Additions to capitalized software development costs for software sold to customers			$ 44,000,000	46,000,000	36,000,000
Capitalized software development costs for software sold to customers, net			165,000,000	148,000,000
Property, plant and equipment, net			639,073,000	582,217,000	547,913,000
Investments in unaffiliated companies				1,000,000	2,000,000
Long-term debt			$ 2,305,513,000	1,524,878,000
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			$ 70,277,000	626,061,000	648,930,000
Advertising expense			7,000,000	7,000,000	7,000,000
Severance and related costs			26,000,000
Percentage reduction in the workforce	5%
Payment of severance costs			19,000,000
Intangible assets net excluding goodwill			629,187,000	227,399,000
Goodwill			$ 1,305,446,000	$ 430,328,000		$ 864,000,000
Finite-lived intangible assets, average useful life in years			7 years	7 years
Unrealized gain loss on investments		$ 10,000,000	$ 0	$ 0	$ 9,707,000
Company received proceeds from investments			$ 1,000,000	10,000,000
Equity Method Investments [Member]
Basis of Presentation and Summary of Significant Accounting Policies [Line Items]
Asset impairment Charges				6,000,000
State and Local Jurisdiction [Member]
Basis of Presentation and Summary of Significant Accounting Policies [Line Items]
Percentage of income tax paid on total minimum			5%
Foreign Tax Authority [Member]
Basis of Presentation and Summary of Significant Accounting Policies [Line Items]
Percentage of income tax paid on total minimum			5%
Domestic Tax Authority [Member]
Basis of Presentation and Summary of Significant Accounting Policies [Line Items]
Percentage of income tax paid on total minimum			5%
Other Income [Member]
Basis of Presentation and Summary of Significant Accounting Policies [Line Items]
Gain Loss On Exercise Of Warrants				2,000,000
Other Nonoperating Income (Expense) [Member]
Basis of Presentation and Summary of Significant Accounting Policies [Line Items]
Proceeds from sale of equity method investment				7,000,000
Impairment of equity investments without readily determinable fair values				$ 6,000,000
Purchased Intangibles [Member]
Basis of Presentation and Summary of Significant Accounting Policies [Line Items]
Finite-lived intangible assets, average useful life in years			10 years	11 years
Capitalized software [Member]
Basis of Presentation and Summary of Significant Accounting Policies [Line Items]
Finite-lived intangible assets, average useful life in years			5 years	5 years
Patents and other intangibles [Member]
Basis of Presentation and Summary of Significant Accounting Policies [Line Items]
Finite-lived intangible assets, average useful life in years			8 years	8 years
Cross Currency Interest Rate Contract [Member]
Basis of Presentation and Summary of Significant Accounting Policies [Line Items]
Notional value, derivative asset			$ 625,000,000
Customer Concentration [Member] | Pharmaceutical [Member] | Net sales [Member]
Basis of Presentation and Summary of Significant Accounting Policies [Line Items]
Concentration percentage			57%	59%	60%
Non-US [Member] | Geographic Concentration Risk [Member] | Net sales [Member]
Basis of Presentation and Summary of Significant Accounting Policies [Line Items]
Concentration percentage			69%	70%	72%
Programs Authorized by Board of Directors [Member]
Basis of Presentation and Summary of Significant Accounting Policies [Line Items]
Treasury stock shares acquired | shares			0.2	2	2
Treasury stock			$ 58,000,000	$ 616,000,000	$ 640,000,000
Related to Vesting of Restricted Stock Units [Member]
Basis of Presentation and Summary of Significant Accounting Policies [Line Items]
Treasury stock			12,000,000	11,000,000	$ 9,000,000
January 2019 Program [Member]
Basis of Presentation and Summary of Significant Accounting Policies [Line Items]
Stock repurchase program remaining amount authorized for future purchases			1,000,000,000
Held In Currencies Other Than Us Dollars [Member]
Basis of Presentation and Summary of Significant Accounting Policies [Line Items]
Cash, cash equivalents and investments			233,000,000	336,000,000
Internal-Use Software [Member]
Basis of Presentation and Summary of Significant Accounting Policies [Line Items]
Property, plant and equipment, net			$ 14,000,000	15,000,000
Useful life of property, plant and equipment			10 years
Unsecured Debt [Member]
Basis of Presentation and Summary of Significant Accounting Policies [Line Items]
Long-term debt			$ 1,300,000,000	1,300,000,000
Unsecured Debt [Member] | Fixed Interest Rate [Member]
Basis of Presentation and Summary of Significant Accounting Policies [Line Items]
Long-term debt			1,300,000,000	1,300,000,000
Fair value of fixed interest rate debt			$ 1,200,000,000	$ 1,100,000,000
Maximum [Member] | Purchased Intangibles [Member]
Basis of Presentation and Summary of Significant Accounting Policies [Line Items]
Finite-lived intangible assets, average useful life in years			15 years
Maximum [Member] | Capitalized software [Member]
Basis of Presentation and Summary of Significant Accounting Policies [Line Items]
Finite-lived intangible assets, average useful life in years			10 years
Maximum [Member] | Patents and other intangibles [Member]
Basis of Presentation and Summary of Significant Accounting Policies [Line Items]
Finite-lived intangible assets, average useful life in years			10 years
Maximum [Member] | Customer Concentration [Member] | Individual Customers [Member] | Net sales [Member]
Basis of Presentation and Summary of Significant Accounting Policies [Line Items]
Concentration percentage			2%	2%	2%
Maximum [Member] | Building [Member]
Basis of Presentation and Summary of Significant Accounting Policies [Line Items]
Useful life of property, plant and equipment			39 years
Maximum [Member] | Building Improvements [Member]
Basis of Presentation and Summary of Significant Accounting Policies [Line Items]
Useful life of property, plant and equipment			10 years
Maximum [Member] | Production and Other Equipment [Member]
Basis of Presentation and Summary of Significant Accounting Policies [Line Items]
Useful life of property, plant and equipment			10 years
Minimum [Member] | Purchased Intangibles [Member]
Basis of Presentation and Summary of Significant Accounting Policies [Line Items]
Useful life of property, plant and equipment			1 year
Minimum [Member] | Capitalized software [Member]
Basis of Presentation and Summary of Significant Accounting Policies [Line Items]
Finite-lived intangible assets, average useful life in years			3 years
Minimum [Member] | Patents and other intangibles [Member]
Basis of Presentation and Summary of Significant Accounting Policies [Line Items]
Useful life of property, plant and equipment			1 year
Minimum [Member] | Building [Member]
Basis of Presentation and Summary of Significant Accounting Policies [Line Items]
Useful life of property, plant and equipment			15 years
Minimum [Member] | Building Improvements [Member]
Basis of Presentation and Summary of Significant Accounting Policies [Line Items]
Useful life of property, plant and equipment			5 years
Held By Foreign Subsidiaries [Member]
Basis of Presentation and Summary of Significant Accounting Policies [Line Items]
Cash, cash equivalents and investments			$ 321,000,000	$ 472,000,000

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	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Allowance for Doubtful Accounts Receivable [Roll Forward]
Beginning balance	$ 14,311	$ 13,228	$ 14,381
Additions	8,120	6,509	5,380
Deduction	(3,096)	(5,426)	(6,533)
Ending balance	$ 19,335	$ 14,311	$ 13,228

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	Dec. 31, 2023	Dec. 31, 2022
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Waters 401(k) Restoration Plan assets	$ 28,995	$ 25,532
Total	34,911	45,788
Contingent consideration		1,509
Total	16,565	6,390
Foreign Currency Exchange Contract [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value, derivative asset	183	231
Foreign currency exchange contracts	207	98
Cross Currency Interest Rate Contract [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value, derivative asset	4,835	19,163
Foreign currency exchange contracts	13,384	4,783
Interest Rate Swaps Cash Flow Hedges [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Foreign currency exchange contracts	2,974
Time Deposits [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available for sale securities	898	862
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	898	862
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	28,995	25,532
Total	28,995	25,532
Total	0	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]
Total	5,916	20,256
Total	16,565	4,881
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	183	231
Foreign currency exchange contracts	207	98
Fair Value, Measurements, Recurring [Member] | Significant Unobservable Inputs (Level 2) [Member] | Cross Currency Interest Rate Contract [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value, derivative asset	4,835	19,163
Foreign currency exchange contracts	13,384	4,783
Fair Value, Measurements, Recurring [Member] | Significant Unobservable Inputs (Level 2) [Member] | Interest Rate Swaps Cash Flow Hedges [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Foreign currency exchange contracts	2,974
Fair Value, Measurements, Recurring [Member] | Significant Unobservable Inputs (Level 3) [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total	0	0
Contingent consideration		1,509
Total	$ 0	$ 1,509

Basis of Presentation and Sum_7

Basis of Presentation and Summary of Significant Accounting Policies - Fair Value of Forward Foreign Exchange Contracts (Detail) - USD ($)	Dec. 31, 2023	Dec. 31, 2022
Foreign Currency Exchange Contract [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value, derivative asset	$ 183,000	$ 231,000
Fair value, derivative liability	207,000	98,000
Cross Currency Interest Rate Contract [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Notional value, derivative asset	625,000,000
Fair value, derivative asset	4,835,000	19,163,000
Fair value, derivative liability	13,384,000	4,783,000
Interest Rate Swaps Cash Flow Hedges [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value, derivative liability	2,974,000
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	24,155,000	42,047,000
Fair value, derivative asset	183,000	231,000
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	16,000,000	13,450,000
Fair value, derivative liability	207,000	98,000
Other Assets [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value, derivative asset		19,163,000
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	220,000,000	400,000,000
Fair value, derivative asset	4,835,000
Other Liabilities [Member] | Cross Currency Interest Rate Contract [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Notional value, derivative liability	405,000,000	185,000,000
Fair value, derivative liability	13,384,000	4,783,000
Other Liabilities [Member] | Interest Rate Swaps Cash Flow Hedges [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Notional value, derivative liability	100,000,000
Fair value, derivative liability	2,974,000
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	(7,975,000)	$ 10,026,000
Accumulated Other Comprehensive (Loss) Income [Member] | Interest Rate Swaps Cash Flow Hedges [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value, derivative asset	$ (2,974,000)

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	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Cross Currency Interest Rate Contract [Member]
Derivative [Line Items]
Interest earned	$ 10,974	$ 8,872	$ 11,084
Interest Rate Swaps Cash Flow Hedges [Member]
Derivative [Line Items]
Interest earned	326
Unrealized (losses) gains on open contracts	(2,974)
Cost of Sales [Member] | Foreign Currency Exchange Contract [Member]
Derivative [Line Items]
Realized gains (losses) on closed contracts	224	(3,855)	(1,973)
Unrealized losses on open contracts	(156)	(176)	(343)
Cumulative net pre-tax gains (losses)	68	(4,031)	(2,316)
Other comprehensive income [Member] | Cross Currency Interest Rate Contract [Member]
Derivative [Line Items]
Unrealized (losses) gains on open contracts	$ (18,001)	$ 25,969	$ 29,052

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	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Movement in Standard Product Warranty Accrual [Roll Forward]
Balance at Beginning of Period	$ 11,949	$ 10,718	$ 10,950
Accruals for Warranties	7,727	10,067	8,799
Settlements Made	(7,626)	(8,836)	(9,031)
Balance at End of Period	$ 12,050	$ 11,949	$ 10,718

Revenue Recognition - Additiona

Revenue Recognition - Additional Information (Detail) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Other Long-Term Liabilities [Member]
Revenue Recognition [Line Items]
Deferred revenue and customer advances	$ 67	$ 57

Revenue Recognition - Summary o

Revenue Recognition - Summary of Activity of the Company's Deferred Revenue and Customer Advances (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Revenue Recognition and Deferred Revenue [Abstract]
Balance at the beginning of the period	$ 285,175	$ 273,598	$ 239,759
Recognition of revenue included in balance at beginning of the period	(240,808)	(230,615)	(216,920)
Revenue deferred during the period, net of revenue recognized	279,149	242,192	250,759
Balance at the end of the period	$ 323,516	$ 285,175	$ 273,598

Revenue Recognition - Schedule

Revenue Recognition - Schedule of Estimated Amount of Deferred Revenue and Customer Advances (Detail) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Revenue Recognition [Line Items]
Deferred revenue and customer advances expected to be recognized	$ 256,675	$ 227,908
Deferred revenue and customer advances expected to be recognized	323,516
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-12-31
Revenue Recognition [Line Items]
Deferred revenue and customer advances expected to be recognized	$ 256,675
Deferred revenue and customer advances recognition period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-12-31
Revenue Recognition [Line Items]
Deferred revenue and customer advances expected to be recognized	$ 39,326
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-12-31 | Minimum [Member]
Revenue Recognition [Line Items]
Deferred revenue and customer advances recognition period	13 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-12-31 | Maximum [Member]
Revenue Recognition [Line Items]
Deferred revenue and customer advances recognition period	24 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-12-31
Revenue Recognition [Line Items]
Deferred revenue and customer advances expected to be recognized	$ 27,515
Deferred revenue and customer advances recognition period	25 months

Marketable Securities - Additio

Marketable Securities - Additional Information (Detail) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Investments, Debt and Equity Securities [Abstract]
Time Deposits	$ 0.9	$ 0.9

Inventories - Inventory, Net of

Inventories - Inventory, Net of Reserves (Detail) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Inventory, Net, Items Net of Reserve Alternative [Abstract]
Raw materials	$ 233,952	$ 205,760
Work in progress	20,198	19,899
Finished goods	262,086	230,051
Total inventories	$ 516,236	$ 455,710

Inventories - Additional Inform

Inventories - Additional Information (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Inventory Disclosure [Abstract]
Provisions on inventory	$ 11	$ 14	$ 9

Property, Plant and Equipment -

Property, Plant and Equipment - Summary of Property, Plant and Equipment (Detail) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 1,391,205	$ 1,284,339
Less: accumulated depreciation and amortization	(752,132)	(702,122)
Property, plant and equipment, net	639,073	582,217	$ 547,913
Land and land Improvements [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	35,635	34,663
Buildings And Leasehold Improvements [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	488,667	444,994
Production and other equipment [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	748,411	640,460
Construction in Progress [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 118,492	$ 164,222

Property, Plant and Equipment_2

Property, Plant and Equipment - Additional Information (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Property, Plant and Equipment [Line Items]
Property, plant and equipment retirements and disposals	$ 48	$ 24	$ 23
Property, plant and equipment disposition disclosures	Gains or losses on disposals were immaterial for the years ended December 31, 2023, 2022 and 2021.

Acquisitions - Additional Infor

Acquisitions - Additional Information (Detail) - USD ($) $ in Thousands		12 Months Ended
	May 16, 2023	Dec. 31, 2023	Dec. 31, 2022
Business Acquisition [Line Items]
Business acquisition, goodwill, not deductible for tax purposes	$ 864,000	$ 1,305,446	$ 430,328
Charge Detection Spectrometre Technology [Member]
Business Acquisition [Line Items]
Asset acquistion aggregate consideration		10,000
Payment to acquire productive assets		5,000
Asset acquisition consideration payable		4,000
Wyatt Technology LLC [Member]
Business Acquisition [Line Items]
Operating Costs And Expenses		40,000
Expenses		19,000
Business Combination, Consideration Transferred, Liabilities Incurred		40,000
Transaction Related Costs		13,000
Net Operating Loss		18,000
Net Sales		73,000
Wyatt [Member]
Business Acquisition [Line Items]
Aggregate consideration paid for acquird entity	$ 1,300,000
Net Operating Loss		658,431	651,869
Net Sales		$ 2,995,001	$ 3,086,281

Acquisitions - Summary of busin

Acquisitions - Summary of business combination assets acquired liabilities assumed (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	May 16, 2023	Dec. 31, 2022
Identifiable Net Assets (Liabilities) Acquired
Goodwill	$ 1,305,446	$ 864,000	$ 430,328
Wyatt [Member]
Disclosure Of Business Combination Assets Acquired Liabilities Assumed [Line Items]
Cash paid	1,307,978
Less: cash acquired	(25,624)
Net cash consideration	1,282,354
Identifiable Net Assets (Liabilities) Acquired
Accounts receivable	20,099
Inventory	14,706
Deferred tax assets	11,335
Prepaid and other assets	1,096
Property, plant and equipment, net	9,056
Operating lease assets	5,204
Intangible assets	418,100
Accounts payable and accrued expenses	(31,664)
Operating lease liabilities	(5,204)
Tax liabilities	(3,917)
Deferred revenue	(15,219)
Other liabilities	(5,728)
Total identifiable net assets acquired	417,864
Goodwill	864,490
Cash consideration paid	$ 1,282,354

Acquisitions - Summary Of The P

Acquisitions - Summary Of The Purchase Price Allocated To The Intangible Assets Acquired And The Estimated Useful Lives (Detail) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Business Acquisition [Line Items]
Weighted-Average Life	7 years	7 years
Wyatt Technology LLC [Member]
Business Acquisition [Line Items]
Amount	$ 418,100
Developed technology [Member] | Wyatt Technology LLC [Member]
Business Acquisition [Line Items]
Amount	$ 80,000
Weighted-Average Life	10 years
Customer relationships [Member] | Wyatt Technology LLC [Member]
Business Acquisition [Line Items]
Amount	$ 330,600
Weighted-Average Life	10 years
Trade names [member] | Wyatt Technology LLC [Member]
Business Acquisition [Line Items]
Amount	$ 7,500
Weighted-Average Life	5 years

Acquisitions - Summary of Bus_2

Acquisitions - Summary of Business Acquisition Pro Forma Information (Detail) - Wyatt [Member] - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Business Acquisition [Line Items]
Revenue	$ 2,995,001	$ 3,086,281
Net income	$ 658,431	$ 651,869

Goodwill and Other Intangible_2

Goodwill and Other Intangibles - Additional Information (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	May 16, 2023
Goodwill	$ 1,305,446	$ 430,328		$ 864,000
Goodwill foreign currency translation adjustments	10,000
Intangible assets, gross foreign currency translation adjustments	32,000
Intangible assets, accumulated amortization foreign currency translation adjustments	18,000
Amortization expense	81,000	58,000	$ 60,000
Future amortization expense, year 1	98,000
Future amortization expense, year 2	98,000
Future amortization expense, year 3	98,000
Future amortization expense, year 4	98,000
Future amortization expense, year 5	98,000
Impairment of certain intangible assets	4,000
Intangible assets other than goodwill capitalized during the period	$ 468,000	$ 54,000	$ 55,000
Impairment, Intangible Asset, Finite-Lived, Statement of Income or Comprehensive Income [Extensible Enumeration]	Amortization of Acquisition Costs
Wyatt [Member]
Goodwill acquired	$ 864,000

Goodwill and Other Intangible_3

Goodwill and Other Intangibles - Schedule of Intangible Assets (Detail) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Finite Lived and Indefinite Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 1,411,070	$ 915,298
Accumulated Amortization	$ 781,883	$ 687,899
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	660,273	589,604
Accumulated Amortization	$ 495,317	$ 441,414
Weighted-Average Amortization Period	5 years	5 years
Purchased Intangibles [Member]
Finite Lived and Indefinite Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 614,357	$ 197,805
Accumulated Amortization	$ 197,154	$ 166,735
Weighted-Average Amortization Period	10 years	11 years
Licensing Agreements [Member]
Finite Lived and Indefinite Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 14,798	$ 14,070
Accumulated Amortization	$ 8,429	$ 6,729
Weighted-Average Amortization Period	7 years	6 years
Patents and Other Intangibles [Member]
Finite Lived and Indefinite Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 111,962	$ 104,139
Accumulated Amortization	$ 80,983	$ 73,021
Weighted-Average Amortization Period	8 years	8 years

Debt - Additional Information (

Debt - Additional Information (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	May 16, 2023	Mar. 03, 2023	Dec. 31, 2022	Sep. 17, 2021
Debt Instrument [Line Items]
Debt facility fee	The interest rates applicable under the Credit Facility 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 Term SOFR rate for a one-month interest period as published two U.S. Government Securities Business Days prior to such day (or if such day is not a U.S. Government Securities Business Day, the immediately preceding U.S. Government Securities Business Day), plus 1% annum) or the applicable 1, 3 or 6 month adjusted Term SOFR 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 Term SOFR or EURIBO rate loans. The facility fee on the Credit Facility 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.
Long-term debt	$ 2,305,513			$ 1,524,878
Line of credit maximum borrowing capacity	$ 114,000		$ 2,000,000	113,000
Long term debt gross		$ 2,400,000
Notes Payable to Banks [Member]
Debt Instrument [Line Items]
Interest rate terms on debt	The interest rates applicable under the Credit Facility 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 Term SOFR rate for a one-month interest period as published two U.S. Government Securities Business Days prior to such day (or if such day is not a U.S. Government Securities Business Day, the immediately preceding U.S. Government Securities Business Day), plus 1% annum) or the applicable 1, 3 or 6 month adjusted Term SOFR 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 Term SOFR or EURIBO rate loans. The facility fee on the Credit Facility 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.
Unused borrowing capacity	$ 900,000			1,500,000
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	$ 1,300,000			$ 1,300,000
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. 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
Debt instrument percentage of the amount to be prepaid	10%
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	4.69%			3.54%
Revolving Facilities [Member] | Notes Payable to Banks [Member]
Debt Instrument [Line Items]
Face value of debt					$ 1,800,000
2021 Credit Facility [Member]
Debt Instrument [Line Items]
Long term debt gross	$ 1,100,000			$ 270,000
Debt Instrument, Term	5 years
Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Line of credit maximum borrowing capacity			$ 200,000

Debt - Summary of Senior Unsecu

Debt - Summary of Senior Unsecured Notes Issued (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Series P [Member]
Debt Instrument [Line Items]
Term	5 years
Interest Rate	4.91%	4.91%
Face Value	$ 50
Maturity Date	May 31, 2028
Series Q [Member]
Debt Instrument [Line Items]
Term	7 years
Interest Rate	4.91%	4.91%
Face Value	$ 50
Maturity Date	May 31, 2030

Debt - Summary of Outstanding D

Debt - Summary of Outstanding Debt (Detail) - USD ($) $ in Thousands	Dec. 31, 2023	May 16, 2023	Dec. 31, 2022
Debt Instrument [Line Items]
Total notes payable and debt, current	$ 50,000		$ 50,000
Long-term debt		$ 2,400,000
Unamortized debt issuance costs	(4,487)		(5,122)
Total long-term debt	2,305,513		1,524,878
Total debt	2,355,513		1,574,878
Credit Agreement [Member]
Debt Instrument [Line Items]
Long-term debt	1,050,000		270,000
Senior Unsecured Notes Series G [Member]
Debt Instrument [Line Items]
Total notes payable and debt, current	50,000		50,000
Senior Unsecured Notes Series H [Member]
Debt Instrument [Line Items]
Total notes payable and debt, current			50,000
Senior Unsecured Notes Series I [Member]
Debt Instrument [Line Items]
Total notes payable and debt, current			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		100,000
Senior Unsecured Notes Series O [Member]
Debt Instrument [Line Items]
Long-term debt	400,000		$ 400,000
Senior Unsecured Notes Series P [Member]
Debt Instrument [Line Items]
Long-term debt	50,000
Senior Unsecured Notes Series Q [Member]
Debt Instrument [Line Items]
Long-term debt	$ 50,000

Debt - Summary of Outstanding_2

Debt - Summary of Outstanding Debt (Parenthetical) (Detail)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
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]
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%
Senior Unsecured Notes Series P [Member]
Debt Instrument [Line Items]
Stated interest rate on debt instrument	4.91%	4.91%
Senior Unsecured Notes Series Q [Member]
Debt Instrument [Line Items]
Stated interest rate on debt instrument	4.91%	4.91%

Debt - Annual maturities of deb

Debt - Annual maturities of debt outstanding (Detail) $ in Thousands	Dec. 31, 2023 USD ($)
Maturities of Long-term Debt [Abstract]
2024	$ 50,000
2025	0
2026	1,510,000
2027	0
2028	50,000
Thereafter	750,000
Total	$ 2,360,000

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2023	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Dec. 31, 2022	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Income Taxes [Line Items]
Income tax holiday amount									$ 16,000	$ 20,000	$ 20,000
Income tax holiday per share benefit									$ 0.27	$ 0.33	$ 0.32
Effective income tax rate									12.80%	15.50%	14.10%
Unrecognized tax benefits decrease resulting from settlement with taxing authorities									$ 17,651	$ 0	$ 1,300
Percentage points reduction in effective tax rate									2.50%
Statutory tax rate									21%	21%	21%
Effective income tax reconciliation gilti amount									$ 15,103	$ 17,812	$ 10,476
Valuation Allowance	$ 57,873				$ 54,300				57,873	54,300	58,834	$ 60,101
Deferred Tax Assets, Net of Valuation Allowance	132,521				113,628				132,521	113,628
Incremental income tax provision	21,395	$ 18,643	$ 29,721	$ 24,250	$ 48,434	$ 27,383	$ 27,410	$ 26,864	94,009	130,091	113,350
Provision for income tax repatriation of earnings									4,000	4,000	3,000
Gross unrecognized tax benefit would impact the Company's effective tax rate	14,000								14,000
GILTI Tax [Member]
Income Taxes [Line Items]
Incremental income tax provision										18,000	10,000
Stock Based Compensation Tax Benefit [Member]
Income Taxes [Line Items]
Incremental income tax provision									3,000	$ 7,000	$ 7,000
Foreign Net Operating Losses and credits [Member]
Income Taxes [Line Items]
Valuation Allowance	52,000								52,000
Gross foreign net operating losses	231,000								231,000
Deferred Tax Assets, Net of Valuation Allowance	3,000								3,000
Deferred Tax Assets Operating Loss Carryforwards Foreign Not Subject To Expiration	192,000								192,000
Deferred Tax Assets Operating Loss Carryforwards Foreign Subject To Expiration	39,000								39,000
Maximum [Member]
Income Taxes [Line Items]
Expected change in unrecognized tax benefits in the next twelve months	$ 2,000								$ 2,000
United States [Member]
Income Taxes [Line Items]
Statutory tax rate									21%
Ireland [Member]
Income Taxes [Line Items]
Statutory tax rate									12.50%
U.K [Member]
Income Taxes [Line Items]
Statutory tax rate									25%
Singapore [Member]
Income Taxes [Line Items]
Statutory tax rate									17%
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%

Income Taxes - Income from oper

Income Taxes - Income from operations before income taxes (Detail) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2023	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Dec. 31, 2022	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Domestic									$ 74,119	$ 133,816	$ 144,410
Foreign									662,124	704,030	661,783
Income before income taxes	$ 237,600	$ 153,195	$ 180,275	$ 165,173	$ 275,496	$ 183,381	$ 192,274	$ 186,695	$ 736,243	$ 837,846	$ 806,193

Income Taxes - Deferred compone

Income Taxes - Deferred components of the provision (Detail) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2023	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Dec. 31, 2022	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
The components of the income tax provision were as follows:
Federal									$ 178	$ 62,153	$ 16,302
State									6,427	8,025	3,691
Foreign									88,601	91,901	76,724
Total current tax provision									95,206	162,079	96,717
Federal									(2,457)	(26,551)	10,491
State									(3,029)	(4,420)	345
Foreign									4,289	(1,017)	5,797
Total deferred tax provision									(1,197)	(31,988)	16,633
Provision for income taxes	$ 21,395	$ 18,643	$ 29,721	$ 24,250	$ 48,434	$ 27,383	$ 27,410	$ 26,864	$ 94,009	$ 130,091	$ 113,350

Income Taxes - Schedule of Effe

Income Taxes - Schedule of Effective Income Tax Rate Reconciliation (Detail) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2023	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Dec. 31, 2022	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Effective Income Tax Rate Reconciliation, Amount [Abstract]
Federal tax computed at U.S. statutory income tax rate									$ 154,611	$ 175,948	$ 169,300
GILTI, net of foreign tax credits									15,103	17,812	10,476
Uncertain tax positions									(16,211)	1,051	508
State income tax, net of federal income tax benefit									2,880	3,605	4,037
Net effect of foreign operations									(48,587)	(55,273)	(56,214)
Effect of stock-based compensation									(2,262)	(7,341)	(6,682)
Other, net									(11,525)	(5,711)	(8,075)
Provision for income taxes	$ 21,395	$ 18,643	$ 29,721	$ 24,250	$ 48,434	$ 27,383	$ 27,410	$ 26,864	$ 94,009	$ 130,091	$ 113,350

Income Taxes - Deferred tax lia

Income Taxes - Deferred tax liabilities (Detail) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Net operating losses and credits	$ 54,901	$ 51,945
Depreciation	1,517	18
Operating leases	20,307	19,771
Amortization	5,905	2,713
Stock-based compensation	7,754	7,947
Deferred compensation	14,886	23,488
Deferred revenue	17,127	13,555
Revaluation of equity investments and licenses	1,884	23
Inventory	7,534	6,463
Accrued liabilities and reserves	5,720	4,815
Capitalized interest	12,586	0
Unrealized foreign currency gain/loss	700	1,858
Capitalized Section 174 Expenditures	34,487	34,234
Other	5,086	1,098
Total deferred tax assets	190,394	167,928
Valuation allowance	(57,873)	(54,300)	$ (58,834)	$ (60,101)
Deferred tax assets, net of valuation allowance	132,521	113,628
Capitalized software	(29,281)	(25,429)
Operating leases	(20,117)	(19,543)
Indefinite-lived intangibles	(14,824)	(16,057)
Deferred tax liability on foreign earnings	(20,374)	(18,677)
Total deferred tax liabilities	(84,596)	(79,706)
Net deferred tax assets	$ 47,925	$ 33,922

Income Taxes - Unrecognized Tax

Income Taxes - Unrecognized Tax Benefits (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]
Balance at the beginning of the period	$ 29,019	$ 28,692	$ 28,666
Net reductions for settlement of tax audits	(17,651)	0	(1,300)
Net reductions for lapse of statutes taken during the period	(512)	(818)	(433)
Net additions for tax positions taken during the prior period	2,473	0	0
Net additions for tax positions taken during the current period	994	1,145	1,759
Balance at the end of the period	$ 14,323	$ 29,019	$ 28,692

Income Taxes - Summary Of Valua

Income Taxes - Summary Of Valuation Allowance (Detail) - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Beginning Balance		$ 54,300	$ 58,834	$ 60,101
Charged to Provision for Income Taxes	[1]	1,467	(1,647)	2,919
Other	[2]	2,106	(2,887)	(4,186)
Ending Balance		$ 57,873	$ 54,300	$ 58,834
[1]These amounts have been recorded as part of the income statement provision for income taxes. The income statement effects of these amounts have largely been offset by amounts related to changes in other deferred tax balance sheet accounts.[2]The changes in the valuation allowance during the years ended December 31, 2023, 2022 and 2021 are primarily due to the effect of foreign currency translation on a valuation allowance related to a net operating loss carryforward.

Litigation - Additional Informa

Litigation - Additional Information (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Obligation with Joint and Several Liability Arrangement [Line Items]
Litigation provision during the year			$ 5
Other Income [Member]
Obligation with Joint and Several Liability Arrangement [Line Items]
Guaranteed payments received			10
Settled Litigation [Member]
Obligation with Joint and Several Liability Arrangement [Line Items]
Proceeds from guaranteed payments, net of tax	$ 2	$ 1	$ 3

Leases - Additional Information

Leases - Additional Information (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Leases [Abstract]
Weighted Average Remaining Lease Term	4 years 6 months	4 years 4 months 24 days
Rental expense	$ 38	$ 36	$ 34
Cash paid related to operating lease liabilities	$ 38	$ 36	34
Weighted Average Discount Rate	4.15%	3.24%
Acquired right-of-use assets in exchange for new operating lease liabilities	$ 2	$ 12	$ 3

Leases - Schedule of Company's

Leases - Schedule of Company's right-of-use lease assets and lease liabilities (Detail) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Assets:
Total lease assets	$ 84,591	$ 86,506
Liabilities:
Operating lease liabilities - current	27,825	26,429
Operating lease liabilities - long-term	58,926	62,108
Total lease liabilities	86,751	88,537
Property Operating lease assets [Member]
Assets:
Total lease assets	55,006	54,930
Automobile Operating lease assets [Member]
Assets:
Total lease assets	28,675	30,582
Equipment operating lease assets [Member]
Assets:
Total lease assets	$ 910	$ 994

Leases - Schedule of Undiscount

Leases - Schedule of Undiscounted future minimum rents payable (Detail) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Leases [Abstract]
2024	$ 30,344
2025	24,570
2026	18,321
2027	10,752
2028	3,848
2029 and thereafter	5,215
Total future minimum lease payments	93,050
Less: amount of lease payments representing interest	(6,299)
Present value of future minimum lease payments	86,751	$ 88,537
Less: current operating lease liabilities	(27,825)	(26,429)
Long-term operating lease liabilities	$ 58,926	$ 62,108

Other Commitments and Conting_2

Other Commitments and Contingencies Additional Information (Detail)	12 Months Ended
	Dec. 31, 2023
Commitments and Contingencies Disclosure [Abstract]
Future Minimum License Fees Payable	Future minimum license fees payable under existing license agreements as of December 31, 2023 are immaterial for the years ended December 31, 2023 and thereafter.

Stock-Based Compensation - Addi

Stock-Based Compensation - Additional Information (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares available for grant	6,300
Stock-based compensation related to the retirement of senior executives	$ 36,868	$ 42,564	$ 29,918
Employee Stock Purchase Plan [Abstract]
Maximum contribution allowed under employee stock purchase plan as % of employee's earnings	15%
Total number of shares purchased under employee stock purchase plan	1,700
Plan period employee stock purchase plan, in months	3 months
Purchase price calculation for shares of stock under employee stock purchase plan	The purchase price for each share of stock is the lesser of 90% of the market price on the first day of the plan period or 100% of the market price on the last day of the plan period.
Share-based Compensation Arrangement by Share-based Payment Award, Options, Additional Disclosures [Abstract]
Total intrinsic value of options exercised in the period	$ 11,000	31,000	43,000
Proceeds from stock plans	18,000	$ 32,000	$ 46,000
Intrinsic value of options outstanding	$ 39,000
Weighted-average remaining contractual term of options exercisable	5 years 1 month 6 days
Intrinsic value of options exercisable	$ 28,000
Number of options exercisable	259	300	300
Weighted-average exercise price of exercisable options	$ 223.37	$ 188.21	$ 162.09
Options Vested and Expected to Vest [Abstract]
Number of options outstanding which are vested and expected to vest	600
Aggregate intrinsic value of outstanding options which are vested and expect to vest	$ 39,000
Weighted-average exercise price of outstanding options which are vested and expected to vest	$ 264.78
Weighted-average remaining contractual term of outstanding options which are vested and expected to vest	6 years 8 months 12 days
Unrecognized compensation costs on unvested options	$ 25,000
Employee Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation costs	1,000	$ 1,000	$ 1,000
Restricted Stock Unit Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation costs	$ 19,000	$ 19,000	17,000
Options Vested and Expected to Vest [Abstract]
Weighted-average period of recognition for unrecognized compensation costs on nonvested awards	3 years 3 months 18 days
Unvested Awards Roll Forward
Shares granted	100
Weighted-average grant date fair value of shares granted	$ 319.28
Unvested shares at end of period	235	238
Unrecognized compensation costs on unvested awards	$ 50,000
Performance Stock Unit Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation costs	$ 5,000	$ 13,000	$ 3,000
Options Vested and Expected to Vest [Abstract]
Weighted-average period of recognition for unrecognized compensation costs on nonvested awards	1 year 10 months 24 days
Unvested Awards Roll Forward
Shares granted	45	40	41
Weighted-average grant date fair value of shares granted	$ 338.02
Unvested shares at end of period	108	111
Unrecognized compensation costs on unvested awards	$ 15,000
Performance Stock Unit Plan [Member] | Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting rights	0%
Performance Stock Unit Plan [Member] | Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting rights	200%
Restricted Stock Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation costs	$ 1,000	$ 1,000	$ 1,000
Unvested Awards Roll Forward
Shares granted	3	3	4
Weighted-average grant date fair value of shares granted	$ 341.04	$ 363.44	$ 256.28
Unvested shares at end of period	3
Equity Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period	5 years
Award expiration period	10 years
Options Vested and Expected to Vest [Abstract]
Weighted-average period of recognition for unrecognized compensation costs on nonvested awards	3 years 4 months 24 days
Employee Stock Purchase Plan of 2009 [Member] | Employee Stock [Member]
Employee Stock Purchase Plan [Abstract]
Total number of shares purchased under employee stock purchase plan	800
Share-Based Payment Arrangement, Option [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation related to the retirement of senior executives	$ 10,000	$ 8,000	$ 7,000

Stock-Based Compensation - Ad_2

Stock-Based Compensation - Additional Information (Parenthetical) (Detail)	12 Months Ended
	Dec. 31, 2023 $ / shares
Range 113 Point 88 To 235 Point 06 [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Share-based payment arrangement, option, exercise price range, lower range limit	$ 113.88
Share-based payment arrangement, option, exercise price range, upper range limit	235.06
Range 235 Point 07 to 303 Point 64 [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Share-based payment arrangement, option, exercise price range, lower range limit	235.07
Share-based payment arrangement, option, exercise price range, upper range limit	303.64
Range 303 Point 65 to 371 Point 64 [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Share-based payment arrangement, option, exercise price range, lower range limit	303.65
Share-based payment arrangement, option, exercise price range, upper range limit	$ 371.64

Stock-Based Compensation - Sche

Stock-Based Compensation - Schedule of Stock-Based Compensation Expense (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total stock-based compensation	$ 36,868	$ 42,564	$ 29,918
Cost of Sales [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total stock-based compensation	2,014	3,498	2,500
Selling and Administrative Expenses [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total stock-based compensation	31,012	32,192	21,727
Research and Development Expenses [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total stock-based compensation	$ 3,842	$ 6,874	$ 5,691

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	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Options Issued and Significant Assumptions Used to Estimate Option Fair Values
Options issued	132	138	160
Fair value assumptions, risk free interest rate	3.90%	2%	0.80%
Fair value assumptions, expected life in years	6 years	6 years	6 years
Fair value assumptions, expected volatility	31.10%	30.70%	32.40%
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	$ 331.76	$ 321.15	$ 281.33
Weighted-average grant date fair value of options granted	$ 126.73	$ 107.99	$ 91.48

Stock-Based Compensation - Stoc

Stock-Based Compensation - Stock Options Outstanding Roll Forward (Detail) - Equity Option [Member] - $ / shares shares in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Outstanding at December 31, 2022	597
Granted	132	138	160
Exercised	(99)
Canceled	(43)
Outstanding at December 31, 2023	587	597
Weighted-average exercise price of options outstanding at beginning of period	$ 238.43
Weighted-average exercise price of options granted	331.76	$ 321.15	$ 281.33
Weighted-average exercise price of options exercised	178.31
Weighted average exercise price of options canceled	291.54
Weighted-average exercise price of options outstanding at end of period	265.17	238.43
Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted-average exercise price of options outstanding at beginning of period	99.22
Weighted-average exercise price of options granted	253.64
Weighted-average exercise price of options exercised	99.22
Weighted average exercise price of options canceled	195.75
Weighted-average exercise price of options outstanding at end of period	113.88	99.22
Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted-average exercise price of options outstanding at beginning of period	371.64
Weighted-average exercise price of options granted	345.59
Weighted-average exercise price of options exercised	314.98
Weighted average exercise price of options canceled	345.59
Weighted-average exercise price of options outstanding at end of period	$ 371.64	$ 371.64

Stock-Based Compensation - Ra

Stock-Based Compensation - Range of exercise prices (Detail) - $ / shares shares in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Number of outstanding options	587
Weighted-average exercise price of outstanding options	$ 265.17
Weighted-average remaining contractual life of options outstanding	6 years 9 months 18 days
Number of options exercisable	259	300	300
Weighted-average exercise price of exercisable options	$ 223.37	$ 188.21	$ 162.09
Range $113.88 to $ 235.06 [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Number of outstanding options	192
Weighted-average exercise price of outstanding options	$ 187.37
Weighted-average remaining contractual life of options outstanding	4 years 8 months 12 days
Number of options exercisable	150
Weighted-average exercise price of exercisable options	$ 181.57
Range $235.07 to $303.64 [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Number of outstanding options	166
Weighted-average exercise price of outstanding options	$ 267.95
Weighted-average remaining contractual life of options outstanding	6 years 9 months 18 days
Number of options exercisable	80
Weighted-average exercise price of exercisable options	$ 262.92
Range $303.65 to $371.64 [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Number of outstanding options	229
Weighted-average exercise price of outstanding options	$ 328.38
Weighted-average remaining contractual life of options outstanding	8 years 7 months 6 days
Number of options exercisable	29
Weighted-average exercise price of exercisable options	$ 331.66

Stock-Based Compensation - Rest

Stock-Based Compensation - Restricted Stock Units Unvested Roll Forward (Detail) - Restricted Stock Units (RSUs) [Member] shares in Thousands	12 Months Ended
	Dec. 31, 2023 $ / shares shares
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	238
Shares, Granted | shares	100
Shares, Vested | shares	(74)
Shares, Forfeited | shares	(29)
Unvested Ending balance, Shares | shares	235
Weighted-average grant date fair value per share of shares unvested at beginning of period | $ / shares	$ 273.6
Weighted-average grant date fair value per share of shares granted | $ / shares	319.28
Weighted-average grant date fair value per share of shares vested | $ / shares	254.61
Weighted-average grant date fair value of shares forfeited | $ / shares	288.5
Weighted-average grant date fair value per share of shares unvested at end of period | $ / shares	$ 297.18

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	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Performance Stock Units Issued and Significant Assumptions Used to Estimate Fair Values
Shares granted	45	40	41
Fair value assumptions, risk free interest rate	4.80%	1.60%	0.20%
Fair value assumptions, expected life in years	2 years 10 months 24 days	2 years 10 months 24 days	2 years 10 months 24 days
Fair value assumptions, expected volatility	33.30%	25.40%	38.70%
Fair value assumptions, expected volatility of peer companies	32.80%	34.50%	34.70%
Fair value assumptions, correlation coefficient	38.20%	43%	45.80%
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	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unvested Beginning balance, Shares	111
Shares granted	45	40	41
Shares Vested	(46)
Shares Forfeited	(17)
Shares Change in performance shares in the year due to exceeding performance targets	15
Unvested Ending balance, Shares	108	111
Weighted-average grant date fair value per share of shares unvested at beginning of period	$ 297.55
Weighted-average grant date fair value per share of shares granted	338.02
Weighted-average grant date fair value per share of shares vested	208.35
Weighted-average grant date fair value per share of shares forfeited	307.03
Weighted-average Change in performance shares in the year due to exceeding performance targets	205.72
Weighted-average grant date fair value per share of shares unvested at end of period	$ 337.22	$ 297.55

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								12 Months Ended
	Dec. 31, 2023	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Dec. 31, 2022	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Earnings Per Share [Abstract]
Net income per basic common share, Net Income (Numerator)	$ 216,205	$ 134,552	$ 150,554	$ 140,923	$ 227,062	$ 155,998	$ 164,864	$ 159,831	$ 642,234	$ 707,755	$ 692,843
Net income per diluted common share, Net Income (Numerator)									$ 642,234	$ 707,755	$ 692,843
Net income per basic common share, Weighted-Average Shares (Denominator)	59,142	59,093	58,857	59,023	59,329	59,801	60,206	60,580	59,076	59,985	61,575
Effect of dilutive stock option, restricted stock, performance stock unit and restricted stock unit securities, Weighted-Average Shares (Denominator)									194	346	453
Net income per diluted common share, Weighted-Average Shares (Denominator)	59,311	59,225	59,010	59,317	59,644	60,081	60,510	60,952	59,270	60,331	62,028
Net income per basic common share, Per Share Amount	$ 3.66	$ 2.28	$ 2.56	$ 2.39	$ 3.83	$ 2.61	$ 2.74	$ 2.64	$ 10.87	$ 11.8	$ 11.25
Effect of dilutive stock option, restricted stock, performance stock unit and restricted stock unit securities, Per Share Amount									(0.03)	(0.07)	(0.08)
Net income per diluted common share, Per Share Amount	$ 3.65	$ 2.27	$ 2.55	$ 2.38	$ 3.81	$ 2.6	$ 2.72	$ 2.62	$ 10.84	$ 11.73	$ 11.17

Earnings Per Share - Additional

Earnings Per Share - Additional Information (Detail) - shares shares in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Earnings Per Share [Abstract]
Antidilutive securities excluded from computation of earnings per share	245	66	3

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Income (Loss) - Schedule of Accumulated Other Comprehensive Income (Loss) (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance	$ 504,488	$ 367,554	$ 232,144
Other comprehensive (loss) income, net of tax	7,452	(29,707)	6,078
Ending balance	1,150,341	504,488	367,554
Currency Translation [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance	(146,120)	(99,985)
Other comprehensive (loss) income, net of tax	17,761	(46,135)
Ending balance	(128,359)	(146,120)	(99,985)
Unrealized Gain (Loss) on Retirement Plans [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance	4,548	(11,860)
Other comprehensive (loss) income, net of tax	(8,049)	16,408
Ending balance	(3,501)	4,548	(11,860)
Unrealized Gain (Loss) on Investments [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance	0	(20)
Other comprehensive (loss) income, net of tax	0	20
Ending balance	0	0	(20)
Unrealized Loss on Derivative Instruments [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance	0	0
Other comprehensive (loss) income, net of tax	(2,260)	0
Ending balance	(2,260)	0	0
Accumulated Other Comprehensive Loss [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance	(141,572)	(111,865)	(117,943)
Other comprehensive (loss) income, net of tax	7,452	(29,707)
Ending balance	$ (134,120)	$ (141,572)	$ (111,865)

Retirement Plans - Additional I

Retirement Plans - Additional Information (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Defined Benefit Plan Disclosure [Line Items]
Company contributions to defined contribution plans	amortize cumulative actuarial gains and losses in excess of 10% of the larger of the market-related value of plan assets and the projected benefit obligation over the expected future service of active participants.
Company contributions made to other non U S post-retirement plans	$ 18	$ 16	$ 17
Effect of one-quarter percentage point increase in discount rate on net periodic benefit cost	less than $1 million
US Retiree Healthcare Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan diversification	investments are diversified among market capitalization and investment strategy, and targets a 45% allocation of the equity portfolio to be invested in financial markets outside of the United States.
UNITED STATES
Defined Benefit Plan Disclosure [Line Items]
Accumulated benefit obligations	$ 81	64
US Defined Contribution Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Employee 401(k) contributions as % of salary, upper range limit	60%
Company 401(k) matching contribution rate as % of employee contribution	100%
Company 401(k) matching contribution limit as % of salary	6%
Annual vesting percentage on employee 401(k) contributions	100%
Company contributions to defined contribution plans	$ 22	$ 21	$ 19
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, Projected Benefit Obligation (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
U.S. Retiree Healthcare Plan [Member] | Retiree Healthcare Plan [Member]
Projected benefit obligation, Beginning balance	$ 22,583	$ 25,958
Service cost	275	775	$ 884
Employee contributions	1,105	1,139
Interest cost	1,262	706	559
Actuarial losses (gains)	2,166	(4,657)
Benefits paid	(1,649)	(1,338)
Projected benefit obligation, Ending balance	25,742	22,583	25,958
Non-U.S. Pension Plans [Member] | Pension Plans [Member]
Projected benefit obligation, Beginning balance	74,025	106,924
Service cost	3,073	4,018	4,577
Employee contributions	601	536
Interest cost	2,797	1,360	1,247
Actuarial losses (gains)	11,387	(27,494)
Benefits paid	(2,051)	(3,567)
Plan amendments	(500)	0
Plan settlements	(488)	(812)
Currency impact	3,547	(6,940)
Projected benefit obligation, Ending balance	$ 92,391	$ 74,025	$ 106,924

Retirement Plans - Defined Be_2

Retirement Plans - Defined Benefit Plan, Fair Value of Plan Assets (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
U.S. Retiree Healthcare Plan [Member] | Retiree Healthcare Plan [Member]
Fair value of defined benefit plan assets, beginning balance	$ 15,724	$ 18,314
Actual return on plan assets	2,444	(2,895)
Company contributions	529	504
Employee contributions	1,105	1,139
Benefits paid	(1,649)	(1,338)
Fair value of defined benefit plan assets, ending balance	18,153	15,724
Non-U.S. Pension Plans [Member] | Pension Plans [Member]
Fair value of defined benefit plan assets, beginning balance	77,697	91,169
Actual return on plan assets	4,144	(6,497)
Company contributions	3,224	2,500
Employee contributions	601	536
Plan settlements	(488)	(812)
Benefits paid	(2,051)	(3,567)
Currency impact	3,460	(5,632)
Fair value of defined benefit plan assets, ending balance	$ 86,587	$ 77,697

Retirement Plans - Defined Be_3

Retirement Plans - Defined Benefit, Funded Status of Plan (Detail) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
U.S. Retiree Healthcare Plan [Member] | Retiree Healthcare Plan [Member]
Projected benefit obligation	$ (25,742)	$ (22,583)	$ (25,958)
Fair value of plan assets	18,153	15,724	18,314
Funded status	(7,589)	(6,859)
Non-U.S. Pension Plans [Member] | Pension Plans [Member]
Projected benefit obligation	(92,391)	(74,025)	(106,924)
Fair value of plan assets	86,587	77,697	$ 91,169
Funded status	$ (5,804)	$ 3,672

Retirement Plans - Defined Be_4

Retirement Plans - Defined Benefit Plan, Amounts Recognized in Balance Sheet (Detail) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Long-term defined benefit plan liabilities	$ (47,559)	$ (38,203)
U.S. Retiree Healthcare Plan [Member]
Long-term defined benefit plan liabilities	(7,589)	(6,859)
Net amount of defined benefit plan recognized in balance sheet	(7,589)	(6,859)
Non-U.S. Pension Plans [Member] | Pension Plans [Member]
Long-term defined benefit plan liabilities	5,220	9,554
Long-term defined benefit plan liabilities	(11,024)	(5,882)
Net amount of defined benefit plan recognized in balance sheet	$ (5,804)	$ 3,672

Retirement Plans - Summary of t

Retirement Plans - Summary of the Non-U.S. Pension Plans (Detail) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Define Benefit Plan with Accumulated benefit obligations [Member]
Accumulated benefit obligations	$ 60,815	$ 16,962
Fair value of plan assets	52,894	13,616
Define Benefit Plan with Projected benefit obligations [Member]
Projected benefit obligation	63,918	19,498
Fair value of plan assets	$ 52,894	$ 13,616

Retirement Plans - Defined Be_5

Retirement Plans - Defined Benefit Plan, Net Periodic Benefit Cost (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
U.S. Retiree Healthcare Plan [Member] | Retiree Healthcare Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Service cost	$ 275	$ 775	$ 884
Interest cost	1,262	706	559
Expected return on plan assets	(978)	(1,138)	(1,011)
Net amortization: Prior service credit	(19)	(19)	(19)
Net amortization: Net actuarial (gain) loss		0	10
Net periodic pension cost	540	324	423
Non-U.S. Pension Plans [Member] | Pension Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Service cost	3,073	4,018	4,577
Interest cost	2,797	1,360	1,247
Expected return on plan assets	(2,653)	(1,972)	(1,835)
Settlement loss	221	73	77
Net amortization: Prior service credit	(105)	(129)	(87)
Net amortization: Net actuarial (gain) loss	(195)	649	1,186
Net periodic pension cost	$ 3,138	$ 3,999	$ 5,165

Retirement Plans - Defined Be_6

Retirement Plans - Defined Benefit Plan, Amounts Recognized in Other Comprehensive Income (Loss) (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Defined Benefit Plan Disclosure [Line Items]
Total recognized in other comprehensive (loss) income	$ 10,251	$ (21,527)	$ (10,509)
U.S. Retiree Healthcare Plan [Member] | Retiree Healthcare Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Prior service credit			0
Net (loss) gain arising during the year	(699)	623	1,524
Prior service credit	(19)	(19)	(19)
Net loss	0	0	10
Total recognized in other comprehensive (loss) income	(718)	604	1,515
Non-U.S. Pension Plans [Member] | Pension Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Prior service credit	0	0	(69)
Net (loss) gain arising during the year	(9,396)	19,025	6,708
Prior service credit	(105)	(129)	(87)
Net loss	26	722	1,263
Currency impact	(58)	1,305	1,179
Total recognized in other comprehensive (loss) income	$ (9,533)	$ 20,923	$ 8,994

Retirement Plans - Defined Be_7

Retirement Plans - Defined Benefit Plan, Accumulated Other Comprehensive Income (Detail) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
U.S. Retiree Healthcare Plan [Member] | Retiree Healthcare Plan [Member]
Accumulated Other Comprehensive Income [Abstract]
Net actuarial (loss) gain	$ (964)	$ (266)
Prior service credit (cost)	17	36
Total	(947)	(230)
Non-U.S. Pension Plans [Member] | Pension Plans [Member]
Accumulated Other Comprehensive Income [Abstract]
Net actuarial (loss) gain	(3,241)	6,157
Prior service credit (cost)	(156)	(20)
Total	$ (3,397)	$ 6,137

Retirement Plans - Defined Be_8

Retirement Plans - Defined Benefit Plan, Actual Plan Asset Allocation (Detail)	Dec. 31, 2023	Dec. 31, 2022
U.S. Retiree Healthcare Plan [Member] | Retiree Healthcare Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Total defined benefit plan asset allocation	100%	100%
U.S. Retiree Healthcare Plan [Member] | Equity Securities [Member] | Retiree Healthcare Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Total defined benefit plan asset allocation	70%	77%
U.S. Retiree Healthcare Plan [Member] | Debt Securities [Member] | Retiree Healthcare Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Total defined benefit plan asset allocation	30%	23%
U.S. Retiree Healthcare Plan [Member] | Cash and Cash Equivalents [Member] | Retiree Healthcare Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Total defined benefit plan asset allocation	0%	0%
U.S. Retiree Healthcare Plan [Member] | Insurance Contracts And Other [Member] | Retiree Healthcare Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Total defined benefit plan asset allocation	0%	0%
Non-U.S. Pension Plans [Member] | Pension Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Total defined benefit plan asset allocation	100%	100%
Non-U.S. Pension Plans [Member] | Equity Securities [Member] | Pension Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Total defined benefit plan asset allocation	4%	5%
Non-U.S. Pension Plans [Member] | Debt Securities [Member] | Pension Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Total defined benefit plan asset allocation	18%	18%
Non-U.S. Pension Plans [Member] | Cash and Cash Equivalents [Member] | Pension Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Total defined benefit plan asset allocation	2%	2%
Non-U.S. Pension Plans [Member] | Insurance Contracts And Other [Member] | Pension Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Total defined benefit plan asset allocation	76%	75%

Retirement Plans - Defined Be_9

Retirement Plans - Defined Benefit Plan, Target Asset Allocations (Detail)	Dec. 31, 2023
US Retiree Healthcare Plan [Member] | Equity Securities [Member]
Defined Benefit Plan Disclosure [Line Items]
Target plan asset allocation in defined benefit plan	60%
US Retiree Healthcare Plan [Member] | Equity Securities [Member] | Minimum [Member]
Defined Benefit Plan Disclosure [Line Items]
Target plan asset allocation in defined benefit plan	30%
US Retiree Healthcare Plan [Member] | Equity Securities [Member] | Maximum [Member]
Defined Benefit Plan Disclosure [Line Items]
Target plan asset allocation in defined benefit plan	90%
US Retiree Healthcare Plan [Member] | Debt Securities [Member]
Defined Benefit Plan Disclosure [Line Items]
Target plan asset allocation in defined benefit plan	35%
US Retiree Healthcare Plan [Member] | Debt Securities [Member] | Minimum [Member]
Defined Benefit Plan Disclosure [Line Items]
Target plan asset allocation in defined benefit plan	20%
US Retiree Healthcare Plan [Member] | Debt Securities [Member] | Maximum [Member]
Defined Benefit Plan Disclosure [Line Items]
Target plan asset allocation in defined benefit plan	50%
US Retiree Healthcare Plan [Member] | Cash and Cash Equivalents [Member]
Defined Benefit Plan Disclosure [Line Items]
Target plan asset allocation in defined benefit plan	0%
US Retiree Healthcare Plan [Member] | Cash and Cash Equivalents [Member] | Minimum [Member]
Defined Benefit Plan Disclosure [Line Items]
Target plan asset allocation in defined benefit plan	0%
US Retiree Healthcare Plan [Member] | Cash and Cash Equivalents [Member] | Maximum [Member]
Defined Benefit Plan Disclosure [Line Items]
Target plan asset allocation in defined benefit plan	10%
US Retiree Healthcare Plan [Member] | Insurance Contracts And Other [Member]
Defined Benefit Plan Disclosure [Line Items]
Target plan asset allocation in defined benefit plan	5%
US Retiree Healthcare Plan [Member] | Insurance Contracts And Other [Member] | Minimum [Member]
Defined Benefit Plan Disclosure [Line Items]
Target plan asset allocation in defined benefit plan	0%
US Retiree Healthcare Plan [Member] | Insurance Contracts And Other [Member] | Maximum [Member]
Defined Benefit Plan Disclosure [Line Items]
Target plan asset allocation in defined benefit plan	10%
Non-U.S. Pension Plans [Member] | Equity Securities [Member]
Defined Benefit Plan Disclosure [Line Items]
Target plan asset allocation in defined benefit plan	13%
Non-U.S. Pension Plans [Member] | Debt Securities [Member]
Defined Benefit Plan Disclosure [Line Items]
Target plan asset allocation in defined benefit plan	19%
Non-U.S. Pension Plans [Member] | Cash and Cash Equivalents [Member]
Defined Benefit Plan Disclosure [Line Items]
Target plan asset allocation in defined benefit plan	8%
Non-U.S. Pension Plans [Member] | Insurance Contracts And Other [Member]
Defined Benefit Plan Disclosure [Line Items]
Target plan asset allocation in defined benefit plan	60%

Retirement Plans - Defined B_10

Retirement Plans - Defined Benefit Plan, Fair Value Measurement of Plan Assets (Detail) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Significant Unobservable Inputs (Level 3) [Member] | Bank and Insurance Investment Contracts [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of defined benefit plan assets	$ 66,191	$ 57,994	$ 65,945
US Retiree Healthcare Plan [Member] | Retiree Healthcare Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of defined benefit plan assets	18,153	15,724	18,314
Non-U.S. Pension Plans [Member] | Pension Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of defined benefit plan assets	86,587	77,697	$ 91,169
Retirement Plans [Member] | Portion at Fair Value Measurement [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of defined benefit plan assets	104,740	93,421
Retirement Plans [Member] | Quoted Prices in Active Market for Identical Assets (Level 1) [Member] | Portion at Fair Value Measurement [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of defined benefit plan assets	38,549	35,427
Retirement Plans [Member] | Significant Unobservable Inputs (Level 3) [Member] | Portion at Fair Value Measurement [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of defined benefit plan assets	66,191	57,994
Retirement Plans [Member] | US Retiree Healthcare Plan [Member] | Retiree Healthcare Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of defined benefit plan assets	18,153	15,724
Retirement Plans [Member] | US Retiree Healthcare Plan [Member] | Retiree Healthcare Plan [Member] | Mutual Funds [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of defined benefit plan assets	18,153	15,724
Retirement Plans [Member] | US Retiree Healthcare Plan [Member] | Quoted Prices in Active Market for Identical Assets (Level 1) [Member] | Retiree Healthcare Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of defined benefit plan assets	18,153	15,724
Retirement Plans [Member] | US Retiree Healthcare Plan [Member] | Quoted Prices in Active Market for Identical Assets (Level 1) [Member] | Retiree Healthcare Plan [Member] | Mutual Funds [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of defined benefit plan assets	18,153	15,724
Retirement Plans [Member] | Non-U.S. Pension Plans [Member] | Pension Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of defined benefit plan assets	86,587	77,697
Retirement Plans [Member] | Non-U.S. Pension Plans [Member] | Pension Plans [Member] | Mutual Funds [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of defined benefit plan assets	18,785	18,176
Retirement Plans [Member] | Non-U.S. Pension Plans [Member] | Pension Plans [Member] | Cash and Cash Equivalents [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of defined benefit plan assets	1,611	1,527
Retirement Plans [Member] | Non-U.S. Pension Plans [Member] | Pension Plans [Member] | Bank and Insurance Investment Contracts [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of defined benefit plan assets	66,191	57,994
Retirement Plans [Member] | Non-U.S. Pension Plans [Member] | Quoted Prices in Active Market for Identical Assets (Level 1) [Member] | Pension Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of defined benefit plan assets	20,396	19,703
Retirement Plans [Member] | Non-U.S. Pension Plans [Member] | Quoted Prices in Active Market for Identical Assets (Level 1) [Member] | Pension Plans [Member] | Mutual Funds [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of defined benefit plan assets	18,785	18,176
Retirement Plans [Member] | Non-U.S. Pension Plans [Member] | Quoted Prices in Active Market for Identical Assets (Level 1) [Member] | Pension Plans [Member] | Cash and Cash Equivalents [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of defined benefit plan assets	1,611	1,527
Retirement Plans [Member] | Non-U.S. Pension Plans [Member] | Significant Unobservable Inputs (Level 3) [Member] | Pension Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of defined benefit plan assets	66,191	57,994
Retirement Plans [Member] | Non-U.S. Pension Plans [Member] | Significant Unobservable Inputs (Level 3) [Member] | Pension Plans [Member] | Bank and Insurance Investment Contracts [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of defined benefit plan assets	$ 66,191	$ 57,994

Retirement Plans - Defined B_11

Retirement Plans - Defined Benefit Plan, Fair Value Measurement of Plan Assets (Parenthetical) (Detail) - Mutual Fund [Member]	Dec. 31, 2023	Dec. 31, 2022
Large Cap US Companies Common Stock [Member] | Retiree Healthcare Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Components of plan asset categories	41%	49%
International Growth Companies [Member] | Retiree Healthcare Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Components of plan asset categories	29%	28%
International Growth Companies [Member] | Non-U.S. Pension Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Components of plan asset categories	18%	22%
Fixed Income Bonds [Member] | Retiree Healthcare Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Components of plan asset categories	30%	23%
International Bonds [Member] | Non-U.S. Pension Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Components of plan asset categories	76%	59%
Other Investment Companies [Member] | Non-U.S. Pension Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Components of plan asset categories	7%	19%

Retirement Plans - Defined B_12

Retirement Plans - Defined Benefit Plan, Fair Value of Plan Assets, Unobservable Input Reconciliation (Detail) - Bank and Insurance Investment Contracts [Member] - Significant Unobservable Inputs (Level 3) [Member] - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Fair value of defined benefit plan assets, beginning balance	$ 57,994	$ 65,945
Net purchases (sales) and appreciation (depreciation) of defined benefit plan assets	8,197	(7,951)
Fair value of defined benefit plan assets, ending balance	$ 66,191	$ 57,994

Retirement Plans - Defined B_13

Retirement Plans - Defined Benefit Plan, Weighted-Average Assumptions Used in Calculating Benefit Obligation (Detail)	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
U.S. Retiree Healthcare Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Discount rate	5.18%	5.42%	2.70%
Interest crediting rate	5.25%	5.25%	5.25%
Non-U.S. Pension Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Discount rate	2.97%	3.82%	1.40%
Increases in compensation levels	2.90%	3.14%	2.74%
Interest crediting rate	2.05%	1.57%	0.99%

Retirement Plans - Defined B_14

Retirement Plans - Defined Benefit Plan, Weighted-Average Assumptions Used in Calculating Net Periodic Benefit Cost (Detail)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
U.S. Retiree Healthcare Plan [Member]
Weighted-Average Assumptions Used in Calculating Net Periodic Benefit Cost [Abstract]
Discount rate	5.42%	2.70%	2.25%
Return on plan assets	6.25%	6.25%	6.25%
Interest crediting rate	5.25%	5.25%	5.25%
Non-U.S. Pension Plans [Member]
Weighted-Average Assumptions Used in Calculating Net Periodic Benefit Cost [Abstract]
Discount rate	4.70%	2.09%	1.40%
Return on plan assets	3.95%	3.07%	2.58%
Increases in compensation levels	4.32%	3.58%	3.11%
Interest crediting rate	1.47%	1.55%	0.77%

Retirement Plans - Defined B_15

Retirement Plans - Defined Benefit Plan, Estimated Future Benefit Payments (Detail) $ in Thousands	Dec. 31, 2023 USD ($)
Estimated Future Benefit Payments [Abstract]
2024	$ 5,977
2025	6,130
2026	5,529
2027	6,443
2028	7,864
2029—2033	40,539
U.S. Retiree Healthcare Plan [Member]
Estimated Future Benefit Payments [Abstract]
2024	1,959
2025	2,068
2026	2,153
2027	2,251
2028	2,444
2029—2033	13,807
Non-U.S. Pension Plans [Member]
Estimated Future Benefit Payments [Abstract]
2024	4,018
2025	4,062
2026	3,376
2027	4,192
2028	5,420
2029—2033	$ 26,732

Business Segment Information -

Business Segment Information - Additional Information (Detail)	12 Months Ended
	Dec. 31, 2023 Segment
Segment Reporting [Abstract]
Number of operating segments	2
Number of reportable segments	1
Maximum percentage of net sales to an individual customer	2%

Business Segment Information _2

Business Segment Information - Summary of Net Sales for Company's Products and Services (Detail) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2023	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Dec. 31, 2022	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Disaggregation of Revenue [Line Items]
Total net sales	$ 819,474	$ 711,692	$ 740,576	$ 684,674	$ 858,510	$ 708,555	$ 714,319	$ 690,572	$ 2,956,416	$ 2,971,956	$ 2,785,874
Waters Instrument Systems [Member]
Disaggregation of Revenue [Line Items]
Total net sales									1,108,702	1,210,456	1,089,248
Chemistry Consumables [Member]
Disaggregation of Revenue [Line Items]
Total net sales									541,469	525,399	507,209
TA Instrument Systems [Member]
Disaggregation of Revenue [Line Items]
Total net sales									252,879	252,314	225,613
Product [Member]
Disaggregation of Revenue [Line Items]
Total net sales									1,903,050	1,988,169	1,822,070
Waters Service [Member]
Disaggregation of Revenue [Line Items]
Total net sales									951,419	890,607	876,626
TA Service [Member]
Disaggregation of Revenue [Line Items]
Total net sales									101,947	93,180	87,178
Service [Member]
Disaggregation of Revenue [Line Items]
Total net sales									$ 1,053,366	$ 983,787	$ 963,804

Business Segment Information _3

Business Segment Information - Summary of Geographic Sales Information (Detail) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2023	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Dec. 31, 2022	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Disaggregation of Revenue [Line Items]
Total net sales	$ 819,474	$ 711,692	$ 740,576	$ 684,674	$ 858,510	$ 708,555	$ 714,319	$ 690,572	$ 2,956,416	$ 2,971,956	$ 2,785,874
China [Member]
Disaggregation of Revenue [Line Items]
Total net sales									440,707	565,143	521,128
Japan [Member]
Disaggregation of Revenue [Line Items]
Total net sales									167,202	167,220	182,597
Asia Other [Member]
Disaggregation of Revenue [Line Items]
Total net sales									399,916	399,380	372,040
Total Asia [Member]
Disaggregation of Revenue [Line Items]
Total net sales									1,007,825	1,131,743	1,075,765
United States [Member]
Disaggregation of Revenue [Line Items]
Total net sales									927,982	886,140	774,014
Americas Other [Member]
Disaggregation of Revenue [Line Items]
Total net sales									180,591	169,495	151,206
Total Americas [Member]
Disaggregation of Revenue [Line Items]
Total net sales									1,108,573	1,055,635	925,220
Europe [Member]
Disaggregation of Revenue [Line Items]
Total net sales									$ 840,018	$ 784,578	$ 784,889

Business Segment Information _4

Business Segment Information - Summary of Net Sales by Customer Class (Detail) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2023	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Dec. 31, 2022	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Revenue, Major Customer [Line Items]
Total net sales	$ 819,474	$ 711,692	$ 740,576	$ 684,674	$ 858,510	$ 708,555	$ 714,319	$ 690,572	$ 2,956,416	$ 2,971,956	$ 2,785,874
Pharmaceutical [Member]
Revenue, Major Customer [Line Items]
Total net sales									1,696,875	1,751,665	1,667,061
Industrial [Member]
Revenue, Major Customer [Line Items]
Total net sales									909,003	909,805	829,204
Academic and government [Member]
Revenue, Major Customer [Line Items]
Total net sales									$ 350,538	$ 310,486	$ 289,609

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								12 Months Ended
	Dec. 31, 2023	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Dec. 31, 2022	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Disaggregation of Revenue [Line Items]
Total net sales	$ 819,474	$ 711,692	$ 740,576	$ 684,674	$ 858,510	$ 708,555	$ 714,319	$ 690,572	$ 2,956,416	$ 2,971,956	$ 2,785,874
Chemistry Consumables [Member]
Disaggregation of Revenue [Line Items]
Total net sales									541,469	525,399	507,209
Service [Member]
Disaggregation of Revenue [Line Items]
Total net sales									1,053,366	983,787	963,804
Net Sales Recognized at a Point in Time: [Member]
Disaggregation of Revenue [Line Items]
Total net sales									2,275,580	2,355,670	2,176,736
Net Sales Recognized at a Point in Time: [Member] | Instrument Systems [Member]
Disaggregation of Revenue [Line Items]
Total net sales									1,361,581	1,462,770	1,314,861
Net Sales Recognized at a Point in Time: [Member] | Chemistry Consumables [Member]
Disaggregation of Revenue [Line Items]
Total net sales									541,469	525,399	507,209
Net Sales Recognized at a Point in Time: [Member] | Service [Member]
Disaggregation of Revenue [Line Items]
Total net sales									372,530	367,501	354,666
Net Sales Recognized Over Time: [Member]
Disaggregation of Revenue [Line Items]
Total net sales									2,956,416	2,971,956	2,785,874
Net Sales Recognized Over Time: [Member] | Service [Member]
Disaggregation of Revenue [Line Items]
Total net sales									$ 680,836	$ 616,286	$ 609,138

Business Segment Information _6

Business Segment Information - Long-lived assets (Detail) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Business Segment Information [Line Items]
Long-lived assets	$ 639,073	$ 582,217	$ 547,913
United States [Member]
Business Segment Information [Line Items]
Long-lived assets	440,993	429,469	395,446
Americas Other [Member]
Business Segment Information [Line Items]
Long-lived assets	2,632	1,663	1,662
Total Americas [Member]
Business Segment Information [Line Items]
Long-lived assets	443,625	431,132	397,108
Europe [Member]
Business Segment Information [Line Items]
Long-lived assets	167,948	133,465	130,806
Asia [Member]
Business Segment Information [Line Items]
Long-lived assets	$ 27,500	$ 17,620	$ 19,999

Unaudited Quarterly Results - S

Unaudited Quarterly Results - Schedule of Unaudited Quarterly Results (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2023	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Dec. 31, 2022	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Net sales	$ 819,474	$ 711,692	$ 740,576	$ 684,674	$ 858,510	$ 708,555	$ 714,319	$ 690,572	$ 2,956,416	$ 2,971,956	$ 2,785,874
Costs and operating expenses:
Cost of sales	318,360	291,407	301,076	284,380	348,190	307,101	307,206	285,685	1,195,223	1,248,182
Selling and administrative expenses	180,357	186,748	186,953	181,956	174,257	164,417	161,877	157,475	736,014	658,026	626,968
Research and development expenses	44,386	41,995	45,873	42,691	48,277	43,435	44,006	40,472	174,945	176,190	168,358
Purchased intangibles amortization	12,148	12,116	6,815	1,479	1,503	1,592	1,598	1,673	32,558	6,366	7,143
Acquired in-process research and development								9,797	0	9,797
Total costs and operating expenses	555,251	532,266	540,717	510,506	572,227	516,545	514,687	495,102	2,138,740	2,098,561	1,964,167
Operating income	264,223	179,426	199,859	174,168	286,283	192,010	199,632	195,470	817,676	873,395	821,707
Other income (expense), net	(557)	328	(352)	1,388	(372)	895	1,535	170	807	2,228
Interest expense	(30,703)	(30,442)	(23,272)	(14,444)	(13,899)	(12,420)	(11,419)	(11,059)	(98,861)	(48,797)	(44,938)
Interest income	4,637	3,883	4,040	4,061	3,484	2,896	2,526	2,114	16,621	11,020	12,221
Income before income taxes	237,600	153,195	180,275	165,173	275,496	183,381	192,274	186,695	736,243	837,846	806,193
Provision for income taxes	21,395	18,643	29,721	24,250	48,434	27,383	27,410	26,864	94,009	130,091	113,350
Net income	$ 216,205	$ 134,552	$ 150,554	$ 140,923	$ 227,062	$ 155,998	$ 164,864	$ 159,831	$ 642,234	$ 707,755	$ 692,843
Net income per basic common share	$ 3.66	$ 2.28	$ 2.56	$ 2.39	$ 3.83	$ 2.61	$ 2.74	$ 2.64	$ 10.87	$ 11.8	$ 11.25
Weighted-average number of basic common shares	59,142	59,093	58,857	59,023	59,329	59,801	60,206	60,580	59,076	59,985	61,575
Net income per diluted common share	$ 3.65	$ 2.27	$ 2.55	$ 2.38	$ 3.81	$ 2.6	$ 2.72	$ 2.62	$ 10.84	$ 11.73	$ 11.17
Weighted-average number of diluted common shares and equivalents	59,311	59,225	59,010	59,317	59,644	60,081	60,510	60,952	59,270	60,331	62,028