Waters (WAT) 10-Q 31 Jul 24 2024 Q2 Quarterly report Financial data

Cover Page

Cover Page - shares	3 Months Ended
	Jun. 29, 2024	Jul. 26, 2024
Cover [Abstract]
Document Type	10-Q
Document Fiscal Period Focus	Q2
Document Fiscal Year Focus	2024
Amendment Flag	false
Entity Interactive Data Current	Yes
Current Fiscal Year End Date	--12-31
Entity Central Index Key	0001000697
Document Quarterly Report	true
Document Transition Report	false
Document Period End Date	Jun. 29, 2024
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 Address, Address Line One	34 Maple Street
Entity Emerging Growth Company	false
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		59,361,927

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 29, 2024	Dec. 31, 2023
Current assets:
Cash and cash equivalents	$ 326,427	$ 395,076
Investments	934	898
Accounts receivable, net	610,088	702,168
Inventories	522,927	516,236
Other current assets	143,307	138,489
Total current assets	1,603,683	1,752,867
Property, plant and equipment, net	636,110	639,073
Intangible assets, net	596,398	629,187
Goodwill	1,297,796	1,305,446
Operating lease assets	81,124	84,591
Other assets	233,936	215,690
Total assets	4,449,047	4,626,854
Current liabilities:
Notes payable and debt	0	50,000
Accounts payable	78,436	84,705
Accrued employee compensation	56,037	69,391
Deferred revenue and customer advances	316,933	256,675
Current operating lease liabilities	26,367	27,825
Accrued income taxes	134,265	120,257
Accrued warranty	10,437	12,050
Other current liabilities	140,057	168,677
Total current liabilities	762,532	789,580
Long-term liabilities:
Long-term debt	2,006,009	2,305,513
Long-term portion of retirement benefits	48,582	47,559
Long-term income tax liabilities	17,587	137,123
Long-term operating lease liabilities	56,346	58,926
Other long-term liabilities	146,024	137,812
Total long-term liabilities	2,274,548	2,686,933
Total liabilities	3,037,080	3,476,513
Commitments and contingencies (Notes 6, 7 and 9)
Stockholders' equity:
Preferred stock, par value $0.01 per share, 5,000 shares authorized, none issued at June 29, 2024 and December 31, 2023	0	0
Common stock, par value $0.01 per share, 400,000 shares authorized, 162,926 and 162,709 shares issued, 59,353 and 59,176 shares outstanding at June 29, 2024 and December 31, 2023, respectively	1,629	1,627
Additional paid-in capital	2,310,372	2,266,265
Retained earnings	9,395,754	9,150,821
Treasury stock, at cost, 103,573 and 103,533 shares at June 29, 2024 and December 31, 2023, respectively	(10,147,586)	(10,134,252)
Accumulated other comprehensive loss	(148,202)	(134,120)
Total stockholders' equity	1,411,967	1,150,341
Total liabilities and stockholders' equity	$ 4,449,047	$ 4,626,854

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares shares in Thousands	Jun. 29, 2024	Dec. 31, 2023
Statement of Financial Position [Abstract]
Preferred stock, par value per share	$ 0.01	$ 0.01
Preferred stock, shares authorized	5,000	5,000
Preferred stock, shares issued	0	0
Common stock, par value per share	$ 0.01	$ 0.01
Common stock, shares authorized	400,000	400,000
Common stock, shares issued	162,926	162,709
Common stock, shares outstanding	59,353	59,176
Treasury stock, shares	103,573	103,533

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 29, 2024	Jul. 01, 2023	Jun. 29, 2024	Jul. 01, 2023
Revenues:
Total net sales	$ 708,529	$ 740,576	$ 1,345,368	$ 1,425,250
Costs and operating expenses:
Selling and administrative expenses	173,247	186,953	347,783	368,909
Research and development expenses	46,182	45,873	90,777	88,564
Purchased intangibles amortization	11,744	6,815	23,578	8,294
Litigation provision			10,242	0
Total costs and operating expenses	519,417	540,717	1,022,410	1,051,223
Operating income	189,112	199,859	322,958	374,027
Other income (expense), net	(302)	(352)	1,957	1,036
Interest expense	(23,726)	(23,272)	(49,246)	(37,716)
Interest income	4,328	4,040	8,599	8,101
Income before income taxes	169,412	180,275	284,268	345,448
Provision for income taxes	26,675	29,721	39,335	53,971
Net income	$ 142,737	$ 150,554	$ 244,933	$ 291,477
Net income per basic common share	$ 2.41	$ 2.56	$ 4.13	$ 4.97
Weighted-average number of basic common shares	59,339	58,857	59,287	58,703
Net income per diluted common share	$ 2.4	$ 2.55	$ 4.12	$ 4.95
Weighted-average number of diluted common shares and equivalents	59,451	59,010	59,445	58,909
Product [Member]
Revenues:
Total net sales	$ 435,144	$ 477,926	$ 811,295	$ 914,383
Costs and operating expenses:
Costs and operating expenses	175,836	194,354	329,018	374,708
Service [Member]
Revenues:
Total net sales	273,385	262,650	534,073	510,867
Costs and operating expenses:
Costs and operating expenses	$ 112,408	$ 106,722	$ 221,012	$ 210,748

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 29, 2024	Jul. 01, 2023	Jun. 29, 2024	Jul. 01, 2023
Statement of Comprehensive Income [Abstract]
Net income	$ 142,737	$ 150,554	$ 244,933	$ 291,477
Other comprehensive (loss) income:
Foreign currency translation	(6,675)	3,984	(16,215)	12,767
Unrealized gains on derivative instruments before reclassifications	829	0	3,234	0
Amounts reclassified to interest income	(277)	0	(574)	0
Unrealized gains on derivative instruments before income taxes	552	0	2,660	0
Income tax expense	(132)	0	(638)	0
Unrealized gains on derivative instruments, net of tax	420	0	2,022	0
Retirement liability adjustment before reclassifications	(181)	91	151	171
Amounts reclassified to other income	59	(84)	(58)	(167)
Retirement liability adjustment before income taxes	(122)	7	93	4
Income tax benefit	58	5	18	1
Retirement liability adjustment, net of tax	(64)	12	111	5
Other comprehensive (loss) income	(6,319)	3,996	(14,082)	12,772
Comprehensive income	$ 136,418	$ 154,550	$ 230,851	$ 304,249

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
	Jun. 29, 2024	Jul. 01, 2023
Cash flows from operating activities:
Net income	$ 244,933	$ 291,477
Adjustments to reconcile net income to net cash provided by operating activities:
Stock-based compensation	22,346	23,734
Deferred income taxes	3,958	(6,435)
Depreciation	44,375	40,172
Amortization of intangibles	51,368	29,866
Change in operating assets and liabilities:
Decrease in accounts receivable	69,642	50,273
Increase in inventories	(16,709)	(63,607)
Increase in other current assets	(12,549)	(19,044)
Decrease in other assets	6,802	12
Decrease in accounts payable and other current liabilities	(31,206)	(122,836)
Increase in deferred revenue and customer advances	69,352	81,659
Decrease in other liabilities	(134,908)	(90,402)
Net cash provided by operating activities	317,404	214,869
Cash flows from investing activities:
Additions to property, plant, equipment and software capitalization	(64,759)	(80,997)
Business acquisitions, net of cash acquired	0	(1,285,907)
Investments in unaffiliated companies	(1,064)	0
Purchases of investments	(1,855)	(893)
Maturities and sales of investments	1,819	877
Net cash used in investing activities	(65,859)	(1,366,920)
Cash flows from financing activities:
Proceeds from debt issuances	170,000	1,450,040
Payments on debt	(520,000)	(395,040)
Payments of debt issuance costs	0	(218)
Proceeds from stock plans	21,836	8,628
Purchases of treasury shares	(13,334)	(69,741)
Proceeds from derivative contracts	15,285	5,294
Net cash (used in) provided by financing activities	(326,213)	998,963
Effect of exchange rate changes on cash and cash equivalents	6,019	2,252
Decrease in cash and cash equivalents	(68,649)	(150,836)
Cash and cash equivalents at beginning of period	395,076	480,529
Cash and cash equivalents at end of period	$ 326,427	$ 329,693

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, 2022	$ 504,488	$ 1,624	$ 2,199,824	$ 8,508,587	$ (10,063,975)	$ (141,572)
Beginning Balance, shares at Dec. 31, 2022		162,425
Net income	291,477			291,477
Other comprehensive income (loss)	12,772					12,772
Issuance of common stock for Employee Stock Purchase Plan	5,933		5,933
Issuance of common stock for Employee Stock Purchase Plan, shares		21
Issuance of common stock for stock options exercised	3,285	$ 0	3,285
Issuance of common stock for stock options exercised, shares		17
Treasury stock	(69,741)				(69,741)
Stock-based compensation	23,015	$ 2	23,013
Stock-based compensation, shares		113
Ending balance at Jul. 01, 2023	771,229	$ 1,626	2,232,055	8,800,064	(10,133,716)	(128,800)
Ending Balance, shares at Jul. 01, 2023		162,576
Beginning balance at Apr. 01, 2023	599,823	$ 1,626	2,214,963	8,649,510	(10,133,480)	(132,796)
Beginning Balance, shares at Apr. 01, 2023		162,550
Net income	150,554			150,554
Other comprehensive income (loss)	3,996					3,996
Issuance of common stock for Employee Stock Purchase Plan	3,933		3,933
Issuance of common stock for Employee Stock Purchase Plan, shares		13
Issuance of common stock for stock options exercised	2,316	$ 0	2,316
Issuance of common stock for stock options exercised, shares		11
Treasury stock	(236)				(236)
Stock-based compensation	10,843	$ 0	10,843
Stock-based compensation, shares		2
Ending balance at Jul. 01, 2023	771,229	$ 1,626	2,232,055	8,800,064	(10,133,716)	(128,800)
Ending Balance, shares at Jul. 01, 2023		162,576
Beginning balance at Dec. 31, 2023	1,150,341	$ 1,627	2,266,265	9,150,821	(10,134,252)	(134,120)
Beginning Balance, shares at Dec. 31, 2023		162,709
Net income	244,933			244,933
Other comprehensive income (loss)	(14,082)					(14,082)
Issuance of common stock for Employee Stock Purchase Plan	$ 4,790		4,790
Issuance of common stock for Employee Stock Purchase Plan, shares	18
Issuance of common stock for stock options exercised	$ 17,612	$ 1	17,611
Issuance of common stock for stock options exercised, shares	83
Treasury stock	$ (13,334)				(13,334)
Stock-based compensation	$ 21,707	1	21,706
Stock-based compensation, shares	116
Ending balance at Jun. 29, 2024	$ 1,411,967	$ 1,629	2,310,372	9,395,754	(10,147,586)	(148,202)
Ending Balance, shares at Jun. 29, 2024		162,926
Beginning balance at Mar. 30, 2024	1,256,525	$ 1,629	2,291,103	9,253,017	(10,147,341)	(141,883)
Beginning Balance, shares at Mar. 30, 2024		162,882
Net income	142,737			142,737
Other comprehensive income (loss)	(6,319)					(6,319)
Issuance of common stock for Employee Stock Purchase Plan	2,794		2,794
Issuance of common stock for Employee Stock Purchase Plan, shares		10
Issuance of common stock for stock options exercised	5,060	$ 0	5,060
Issuance of common stock for stock options exercised, shares		32
Treasury stock	(245)				(245)
Stock-based compensation	11,415	$ 0	11,415
Stock-based compensation, shares		2
Ending balance at Jun. 29, 2024	$ 1,411,967	$ 1,629	$ 2,310,372	$ 9,395,754	$ (10,147,586)	$ (148,202)
Ending Balance, shares at Jun. 29, 2024		162,926

Basis of Presentation and Summa

Basis of Presentation and Summary of Significant Accounting Policies	6 Months Ended
	Jun. 29, 2024
Accounting Policies [Abstract]
Basis of Presentation and Summary of Significant Accounting Policies	1 Basis of Presentation and Summary of Significant Accounting Policies Waters Corporation (the “Company,” “we,” “our,” or “us”), 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 expanded Waters’ portfolio and increased exposure to large molecule applications. The Company financed this transaction with a combination of cash on its balance sheet and borrowings under its Credit Facility (as defined below). The Company’s financial results for the three and six months ended June 29, 2024 include the financial results of Wyatt. The Company’s financial results for the three and six months ended July 1, 2023 only include one-and-a-half The Company’s interim fiscal quarter typically ends on the thirteenth Saturday of each quarter. Since the Company’s fiscal year end is December 31, the first and fourth fiscal quarters may have more or less than thirteen complete weeks. The Company’s second fiscal quarters for 2024 and 2023 ended on June 29, 2024 and July 1, 2023, respectively. The accompanying unaudited interim consolidated financial statements have been prepared in accordance with the instructions in Form 10-Q The preparation of consolidated financial statements in conformity with U.S. GAAP requires the Company to make estimates and judgments that affect the reported amounts of assets, liabilities, revenues and expenses, and related disclosure of contingent liabilities at the dates of the financial statements. Actual amounts may differ from these estimates under different assumptions or conditions. It is management’s opinion that the accompanying interim consolidated financial statements reflect all adjustments (which are normal and recurring) that are necessary for a fair statement of the results for the interim periods. The interim consolidated financial statements should be read in conjunction with the consolidated financial statements included in the Company’s Annual Report on Form 10-K Risks and Uncertainties The Company is subject to risks common to companies in the analytical instrument industry, including, but not limited to, global economic and financial market conditions, fluctuations in foreign currency exchange rates, fluctuations in customer demand, development by its competitors of new technological innovations, costs of developing new technologies, levels of debt and debt service requirements, risk of disruption, dependence on key personnel, protection and litigation of proprietary technology, shifts in taxable income between tax jurisdictions and compliance with regulations of the U.S. Food and Drug Administration and similar foreign regulatory authorities and agencies. 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. Cash, Cash Equivalents and Investments Cash equivalents represent highly liquid investments, with original maturities of 90 days or less, while investments with longer maturities are classified as investments. The Company maintains cash balances in various operating accounts in excess of federally insured limits, and in foreign subsidiary accounts in currencies other than the U.S. dollar. As of June 29, 2024 and December 31, 2023, $290 million out of $327 million and $321 million out of $396 million, respectively, of the Company’s total cash, cash equivalents and investments were held by foreign subsidiaries. In addition, $228 million out of $327 million and $233 million out of $396 million of cash, cash equivalents and investments were held in currencies other than the U.S. dollar at June 29, 2024 and December 31, 2023, 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 six months ended June 29, 2024 and July 1, 2023 (in thousands): Balance at Additions Deductions and Balance at End Allowance for Credit Losses June 29, 2024 $ 19,335 $ 1,691 $ (6,882 ) $ 14,144 July 1, 2023 $ 14,311 $ 3,075 $ (2,432 ) $ 14,954 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 June 29, 2024 and December 31, 2023. 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 June 29, 2024 (in thousands): Total at Quoted Prices for Identical (Level 1) Significant Significant (Level 3) Assets: Time deposits $ 934 $ —  $ 934 $ —  Waters 401(k) Restoration Plan assets 30,158 30,158 —  —  Foreign currency exchange contracts 128 —  128 —  Interest rate cross-currency swap agreements 6,010 —  6,010 —  Interest rate swap cash flow hedge 206 —  206 —  Total $ 37,436 $ 30,158 $ 7,278 $ —  Liabilities: Foreign currency exchange contracts $ 86 $ —  $ 86 $ —  Interest rate cross-currency swap agreements 2,837 —  2,837 —  Interest rate swap cash flow hedge 519 —  519 —  Total $ 3,442 $ —  $ 3,442 $ —  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 in Active (Level 1) Significant Significant (Level 3) 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 $ —  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 Swap 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 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 June 29, 2024 and December 31, 2023. 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 $1.1 billion and billion at June 29, 2024 and December 31, 2023, 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 and accounts payable, and the Company’s net worldwide intercompany receivables and payables, which are eliminated in consolidation. The Company periodically aggregates its net worldwide balances by currency and then enters into foreign currency exchange contracts that mature within 90 days to hedge a portion of the remaining balance to minimize some of the Company’s currency price risk exposure. The foreign currency exchange contracts are not designated for hedge accounting treatment. Principal hedged currencies include the euro, Japanese yen, British pound, Mexican peso and Brazilian real. 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 June 29, 2024, the Company had entered into interest rate cross-currency swap derivative agreements with durations up to three years with an aggregate notional value of $625 million to hedge the variability in the movement of foreign currency exchange rates on a portion of its euro-denominated and yen-denominated The Company’s foreign currency exchange contracts, interest rate cross-currency swap agreements and interest rate swap agreements designated as cash flow hedges are included in the consolidated balance sheets are classified as follows (in thousands): June 29, 2024 December 31, 2023 Notional Value Fair Value Notional Value Fair Value Foreign currency exchange contracts: Other current assets $ 16,000 $ 128 $ 24,155 $ 183 Other current liabilities $ 24,428 $ 86 $ 16,000 $ 207 Interest rate cross-currency swap agreements: Other assets $ 405,000 $ 6,010 $ 220,000 $ 4,835 Other liabilities $ 220,000 $ 2,837 $ 405,000 $ 13,384 Accumulated other comprehensive income (loss) $ 13,589 $ (7,975 ) Interest rate swap cash flow hedges: Other assets $ 50,000 $ 206 $ —  $ —  Other liabilities $ 50,000 $ 519 $ 100,000 $ 2,974 Accumulated other comprehensive loss $ (314 ) $ (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 Three Months Ended Six Months Ended Statement Classification June 29, July 1, 2023 June 29, July 1, 2023 Foreign currency exchange contracts: Realized gains on closed contracts Cost of sales $ 794 $ 675 $ 1,051 $ 705 Unrealized gains (losses) on open contracts Cost of sales 117 (213 ) 66 (291 ) Cumulative net pre-tax Cost of sales $ 911 $ 462 $ 1,117 $ 414 Interest rate cross-currency swap agreements: Interest earned Interest income $ 2,590 $ 2,673 $ 5,127 $ 5,328 Unrealized gains (losses) on open contracts Other comprehensive $ 6,647 $ (1,400 ) $ 21,564 $ (8,656 ) Interest rate swap cash flow hedges: Interest earned Interest income $ 278 $ —  $ 574 $ —  Unrealized gains (losses) on open contracts Other comprehensive $ 551 $ —  $ 2,660 $ —  Stockholders’ Equity In December 2023, the Company’s Board of Directors authorized the extension of its existing share repurchase program through January 21, 2025. The Company’s remaining authorization is $ 1.0 cost of $ million under the Company’s share repurchase program. The Company did not make any open market share repurchases in 2024. In addition, the Company repurchased $ million and $ million of common stock related to the vesting of restricted stock units during the six months ended June 29, 2024 and July 1, 2023, respectively. 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 six months ended June 29, 2024 and July 1, 2023 (in thousands): Balance at Beginning of Period Accruals for Warranties Settlements Made Balance at End of Period Accrued warranty liability: June 29, 2024 $ 12,050 $ 1,880 $ (3,493 ) $ 10,437 July 1, 2023 $ 11,949 $ 3,983 $ (3,523 ) $ 12,409 Restructuring In March 2024, the Company had a reduction in workforce that impacted approximately 2% of the Company’s employees, primarily in China, where there had been a significant decline in sales as a result of lower customer demand, which resulted in the Company incurring approximately million of severance-related costs. During the six months ended June 29, 2024, the Company paid million of severance-related costs in connection with the workforce reductions that occurred in March 2024 and July 2023, with the majority of the remaining costs to be paid in the second half of 2024. The accrued restructuring expense was approximately million at December 31, 2023 and included in other current liabilities on the consolidated balance sheets. Subsequent Event On July 12, 2024 the Company entered into a private Master Note Facility Agreement (the “Shelf Agreement”) pursuant to which the Company may, at its option, authorize the issuance and sale of senior promissory notes (the “Shelf Notes”) up to an aggregate principal amount of million. The purchase of any Shelf Notes is in the sole discretion of NYL Investors LLC. Any Shelf Notes sold or issued pursuant to the Shelf Agreement will mature no more than years after the issuance date and will bear interest on the unpaid balance from the issuance date at the rates specified in the Shelf Agreement. As of July 31, 2024 the Company has issued any Shelf Notes under the Shelf Agreement.

Revenue Recognition

Revenue Recognition	6 Months Ended
	Jun. 29, 2024
Revenue from Contract with Customer [Abstract]
Revenue Recognition	2 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 six months ended June 29, 2024 and July 1, 2023 (in thousands): June 29, 2024 July 1, 2023 Balance at the beginning of the period $ 323,516 $ 285,175 Recognition of revenue included in balance at beginning of the period (192,050 ) (176,508 ) Revenue deferred during the period, net of revenue recognized 251,599 284,863 Balance at the end of the period $ 383,065 $ 393,530 The Company classified $ million and $ million of deferred revenue and customer advances in other long-term liabilities at June 29, 2024 and December 31, 2023, 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): June 29, 2024 Deferred revenue and customer advances expected to be recognized in: One year or less $ 316,933 13-24 41,395 25 months and beyond 24,737 Total $ 383,065

Marketable Securities

Marketable Securities	6 Months Ended
	Jun. 29, 2024
Investments, Debt and Equity Securities [Abstract]
Marketable Securities	3 Marketable Securities The Company’s marketable securities within cash equivalents and investments included in the consolidated balance sheets 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 June 29, 2024 and December 31, 2023.

Inventories

Inventories	6 Months Ended
	Jun. 29, 2024
Inventory Disclosure [Abstract]
Inventories	4 Inventories Inventories are classified as follows (in thousands): June 29, 2024 December 31, 2023 Raw materials $ 236,091 $ 233,952 Work in progress 24,976 20,198 Finished goods 261,860 262,086 Total inventories $ 522,927 $ 516,236

Goodwill and Other Intangibles

Goodwill and Other Intangibles	6 Months Ended
	Jun. 29, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Other Intangibles	5 Goodwill and Other Intangibles The carrying amount of goodwill was $1.3 billion at both June 29, 2024 and December 31, 2023. The Company’s intangible assets included in the consolidated balance sheets are detailed as follows (dollars in thousands): June 29, 2024 December 31, 2023 Gross Accumulated Weighted- Gross Accumulated Weighted- Capitalized software $ 657,175 $ 499,290 5 years $ 660,273 $ 495,317 5 years Purchased intangibles 611,721 218,781 10 years 614,357 197,154 10 years Trademarks 9,680 —     — 9,680 —     — Licenses 14,665 9,029 7 years 14,798 8,429 7 years Patents and other intangibles 114,537 84,280 8 years 111,962 80,983 8 years Total $ 1,407,778 $ 811,380 7 years $ 1,411,070 $ 781,883 7 years The Company capitalized intangible assets in the amounts of $10 million and $431 million in the three months ended June 29, 2024 and July 1, 2023, respectively, and $20 million and $445 million in the six months ended June 29, 2024 and July 1, 2023, respectively. The increases in intangible assets in the three and six months ended July 1, 2023 were a result of the Wyatt acquisition. The gross carrying value of intangible assets and accumulated amortization for intangible assets decreased by $ million and $ million, respectively, in the six months ended June 29, 2024 due to the effects of foreign currency translation. Amortization expense for intangible assets was $ million and $ million for the three months ended June 29, 2024 and July 1, 2023. Amortization expense for intangible assets was $ million and $ million for the six months ended June 29, 2024 and July 1, 2023, respectively. Amortization expense for intangible assets is estimated to be $ million per year for each of the next five years.

Debt

Debt	6 Months Ended
	Jun. 29, 2024
Debt Disclosure [Abstract]
Debt	6 Debt The Company has a five-year, $2.0 billion revolving credit facility (the “Credit Facility”) that matures in September 2026. As of June 29, 2024 and December 31, 2023, the Credit Facility had a total of $0.8 billion and $1.1 billion 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 one-month As of both June 29, 2024 and December 31, 2023, 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 June 29, 2024 and December 31, 2023 (in thousands): June 29, 2024 December 31, 2023 Senior unsecured notes - Series G - 3.92%, due June 2024 —  50,000 Total notes payable and debt, current —  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 200,000 200,000 Senior unsecured notes - Series M - 3.53%, due September 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 50,000 Senior unsecured notes - Series Q - 4.91%, due May 2030 50,000 50,000 Credit agreement 750,000 1,050,000 Unamortized debt issuance costs (3,991 ) (4,487 ) Total long-term debt 2,006,009 2,305,513 Total debt $ 2,006,009 $ 2,355,513 As of June 29, 2024 and December 31, 2023, the Company had a total amount available to borrow under the Credit Facility of $1.2 billion and $0.9 billion, respectively, after outstanding letters of credit. The weighted-average interest rates applicable to the senior unsecured notes and credit agreement borrowings collectively were 4.44% and 4.69% at June 29, 2024 and December 31, 2023, respectively. As of June 29, 2024, the Company was in compliance with all debt covenants. The Company and its foreign subsidiaries also had available short-term lines of credit totaling $111 million and $114 million at June 29, 2024 and December 31, 2023, 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 June 29, 2024 or December 31, 2023.

Income Taxes

Income Taxes	6 Months Ended
	Jun. 29, 2024
Income Tax Disclosure [Abstract]
Income Taxes	7 Income Taxes The four principal jurisdictions in which the Company manufactures are the U.S., Ireland, the U.K. and Singapore, where the statutory tax rates were 21%, 12.5%, 25% and 17%, respectively, as of June 29, 2024. The Company has a Development and Expansion Incentive in Singapore that provides a concessionary income tax rate of 5% on certain types of income for the period April 1, 2021 through March 31, 2026. The effect of applying the concessionary income tax rate rather than the statutory tax rate to income arising from qualifying activities in Singapore increased the Company’s net income for the six months ended June 29, 2024 and July 1, 2023 by $5 million and $7 million, respectively, and increased the Company’s net income per diluted share by $0.09 and $0.11, respectively. The Company’s effective tax rate for the three months ended June 29, 2024 and July 1, 2023 was 15.7% and 16.5%, respectively. The decrease between the effective tax rates can be primarily attributed to a higher tax benefit related to stock-based compensation in the three months ended June 29, 2024, with the remaining difference due to the proportionate amounts of pre-tax income recognized in jurisdictions with different effective tax rates. The Company’s effective tax rate for the six months ended June 29, 2024 and July 1, 2023 was 13.8% and 15.6%, respectively. The decrease between the effective tax rates can primarily be attributed to a higher tax benefit related to stock-based compensation in 2024, the impact of discrete tax benefits in the current year and differences in the proportionate amounts of pre-tax The Company accounts for its uncertain tax return positions in accordance with the accounting standards for income taxes, which require financial statement reporting of the expected future tax consequences of uncertain tax reporting positions on the presumption that all concerned tax authorities possess full knowledge of those tax reporting positions, as well as all of the pertinent facts and circumstances, but prohibit any discounting of unrecognized tax benefits associated with those reporting positions for the time value of money. The Company continues to classify interest and penalties related to unrecognized tax benefits as a component of the provision for income taxes. The Company’s gross unrecognized tax benefits, excluding interest and penalties, at June 29, 2024 and July 1, 2023 were $15 million and $30 million, respectively. 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. Effective in 2024, various foreign jurisdictions began implementing aspects of the guidance issued by the Organization for Economic Co-operation and

Litigation

Litigation	6 Months Ended
	Jun. 29, 2024
Litigation Settlement [Abstract]
Litigation	8 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 six months ended June 29, 2024, the Company recorded and paid million of patent litigation settlement and related costs.

Other Commitments and Contingen

Other Commitments and Contingencies	6 Months Ended
	Jun. 29, 2024
Commitments and Contingencies Disclosure [Abstract]
Other Commitments and Contingencies	9 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 June 29, 2024 are immaterial for the years ended December 31, 2024 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.

Earnings Per Share

Earnings Per Share	6 Months Ended
	Jun. 29, 2024
Earnings Per Share [Abstract]
Earnings Per Share	10 Earnings Per Share Basic and diluted EPS calculations are detailed as follows (in thousands, except per share data):  Three Months Ended June 29, 2024 Net Income Weighted- Per Share (Numerator) (Denominator) Amount Net income per basic common share $ 142,737 59,339 $ 2.41 Effect of dilutive stock option, restricted stock, performance stock unit and restricted stock unit securities —  112 (0.01 ) Net income per diluted common share $ 142,737 59,451 $ 2.40 Three Months Ended July 1, 2023 Net Income Weighted- Per Share (Numerator) (Denominator) Amount Net income per basic common share $ 150,554 58,857 $ 2.56 Effect of dilutive stock option, restricted stock, performance stock unit and restricted stock unit securities —  153 (0.01 ) Net income per diluted common share $ 150,554 59,010 $ 2.55 Six Months Ended June 29, 2024 Net Income Weighted- Average Shares Per Share (Numerator) (Denominator) Amount Net income per basic common share $ 244,933 59,287 $ 4.13 Effect of dilutive stock option, restricted stock, performance stock unit and restricted stock unit securities —  158 (0.01 ) Net income per diluted common share $ 244,933 59,445 $ 4.12 Six Months Ended July 1, 2023 Net Income Weighted- Per Share (Numerator) (Denominator) Amount Net income per basic common share $ 291,477 58,703 $ 4.97 Effect of dilutive stock option, restricted stock, performance stock unit and restricted stock unit securities —  206 (0.02 ) Net income per diluted common share $ 291,477 58,909 $ 4.95 The Company had 270 thousand and 128 thousand stock options that were antidilutive due to having higher exercise prices than the Company’s average stock price during the three and six months ended June 29, 2024, respectively. For the three and six months ended July 1, 2023, the Company had 362 thousand and 260 thousand stock options that were antidilutive, respectively. These securities were not included in the computation of diluted EPS. The effect of dilutive securities was calculated using the treasury stock method.

Accumulated Other Comprehensive

Accumulated Other Comprehensive Loss	6 Months Ended
	Jun. 29, 2024
Equity [Abstract]
Accumulated Other Comprehensive Loss	11 Accumulated Other Comprehensive Loss The components of accumulated other comprehensive loss are detailed as follows (in thousands): Currency Unrealized Unrealized Accumulated Balance at December 31, 2023 $ (128,359 ) $ (3,501 ) $ (2,260 ) $ (134,120 ) Other comprehensive income (loss), net of tax (16,215 ) 111 2,022 (14,082 ) Balance at June 29, 2024 $ (144,574 ) $ (3,390 ) $ (238 ) $ (148,202 )

Business Segment Information

Business Segment Information	6 Months Ended
	Jun. 29, 2024
Segment Reporting [Abstract]
Business Segment Information	12 Business Segment Information The Company’s business activities, for which discrete financial information is available, are regularly reviewed and evaluated by the chief operating decision maker. As a result of this evaluation, the Company determined that it has two operating segments: Waters TM TM The Waters operating segment is primarily in the business of designing, manufacturing, selling and servicing LC and MS instruments, columns and other precision chemistry consumables that can be integrated and used along with other analytical instruments. Operations of the Wyatt business are part of the Waters operating segment. 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. Net sales for the Company’s products and services are as follows for the three and six months ended June 29, 2024 and July 1, 2023 (in thousands): Three Months Ended Six Months Ended June 29, 2024 July 1, 2023 June 29, 2024 July 1, 2023 Product net sales: Waters instrument systems $ 235,228 $ 279,940 $ 426,487 $ 524,151 Chemistry consumables 141,085 135,919 275,292 269,434 TA instrument systems 58,831 62,067 109,516 120,798 Total product sales 435,144 477,926 811,295 914,383 Service net sales: Waters service 246,248 237,376 482,681 461,725 TA service 27,137 25,274 51,392 49,142 Total service sales 273,385 262,650 534,073 510,867 Total net sales $ 708,529 $ 740,576 $ 1,345,368 $ 1,425,250 Net sales are attributable to geographic areas based on the region of destination. Geographic sales information is presented below for the three and six months ended June 29, 2024 and July 1, 2023 (in thousands): Three Months Ended Six Months Ended June 29, 2024 July 1, 2023 June 29, 2024 July 1, 2023 Net Sales: Asia: China $ 100,105 $ 114,981 $ 185,850 $ 231,046 Japan 33,352 37,380 68,899 83,874 Asia Other 103,974 102,262 190,241 192,784 Total Asia 237,431 254,623 444,990 507,704 Americas: United States 231,931 238,955 434,770 441,260 Americas Other 42,537 43,972 80,869 88,088 Total Americas 274,468 282,927 515,639 529,348 Europe 196,630 203,026 384,739 388,198 Total net sales $ 708,529 $ 740,576 $ 1,345,368 $ 1,425,250 Net sales by customer class are as follows for the three and six months ended June 29, 2024 and July 1, 2023 (in thousands): Three Months Ended Six Months Ended June 29, 2024 July 1, 2023 June 29, 2024 July 1, 2023 Pharmaceutical $ 415,747 $ 426,744 $ 789,954 $ 811,642 Industrial 221,385 229,655 416,719 439,305 Academic and government 71,397 84,177 138,695 174,303 Total net sales $ 708,529 $ 740,576 $ 1,345,368 $ 1,425,250 Net sales for the Company recognized at a point in time versus over time are as follows for the three and six months ended June 29, 2024 and July 1, 2023 (in thousands): Three Months Ended Six Months Ended June 29, 2024 July 1, 2023 June 29, 2024 July 1, 2023 Net sales recognized at a point in time: Instrument systems $ 294,059 $ 342,007 $ 536,003 $ 644,949 Chemistry consumables 141,085 135,919 275,292 269,434 Service sales recognized at a point in time (time & materials) 92,075 92,711 175,400 180,918 Total net sales recognized at a point in time 527,219 570,637 986,695 1,095,301 Net sales recognized over time: Service and software maintenance sales recognized over time (contracts) 181,310 169,939 358,673 329,949 Total net sales $ 708,529 $ 740,576 $ 1,345,368 $ 1,425,250

Recent Accounting Standard Chan

Recent Accounting Standard Changes and Developments	6 Months Ended
	Jun. 29, 2024
Accounting Changes and Error Corrections [Abstract]
Recent Accounting Standard Changes and Developments	13 Recent Accounting Standard Changes and Developments Recently Issued Accounting Standards There were no additions to the new accounting pronouncements not yet adopted as described in our Annual Report on Form 10-K

Basis of Presentation and Sum_2

Basis of Presentation and Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 29, 2024
Accounting Policies [Abstract]
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.
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.
Cash, Cash Equivalents and Investments	Cash, Cash Equivalents and Investments Cash equivalents represent highly liquid investments, with original maturities of 90 days or less, while investments with longer maturities are classified as investments. The Company maintains cash balances in various operating accounts in excess of federally insured limits, and in foreign subsidiary accounts in currencies other than the U.S. dollar. As of June 29, 2024 and December 31, 2023, $290 million out of $327 million and $321 million out of $396 million, respectively, of the Company’s total cash, cash equivalents and investments were held by foreign subsidiaries. In addition, $228 million out of $327 million and $233 million out of $396 million of cash, cash equivalents and investments were held in currencies other than the U.S. dollar at June 29, 2024 and December 31, 2023, 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 six months ended June 29, 2024 and July 1, 2023 (in thousands): Balance at Additions Deductions and Balance at End Allowance for Credit Losses June 29, 2024 $ 19,335 $ 1,691 $ (6,882 ) $ 14,144 July 1, 2023 $ 14,311 $ 3,075 $ (2,432 ) $ 14,954
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 June 29, 2024 and December 31, 2023. 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 June 29, 2024 (in thousands): Total at Quoted Prices for Identical (Level 1) Significant Significant (Level 3) Assets: Time deposits $ 934 $ —  $ 934 $ —  Waters 401(k) Restoration Plan assets 30,158 30,158 —  —  Foreign currency exchange contracts 128 —  128 —  Interest rate cross-currency swap agreements 6,010 —  6,010 —  Interest rate swap cash flow hedge 206 —  206 —  Total $ 37,436 $ 30,158 $ 7,278 $ —  Liabilities: Foreign currency exchange contracts $ 86 $ —  $ 86 $ —  Interest rate cross-currency swap agreements 2,837 —  2,837 —  Interest rate swap cash flow hedge 519 —  519 —  Total $ 3,442 $ —  $ 3,442 $ —  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 in Active (Level 1) Significant Significant (Level 3) 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 $ —  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 Swap 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 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 June 29, 2024 and December 31, 2023. 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 $1.1 billion and billion at June 29, 2024 and December 31, 2023, 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 and accounts payable, and the Company’s net worldwide intercompany receivables and payables, which are eliminated in consolidation. The Company periodically aggregates its net worldwide balances by currency and then enters into foreign currency exchange contracts that mature within 90 days to hedge a portion of the remaining balance to minimize some of the Company’s currency price risk exposure. The foreign currency exchange contracts are not designated for hedge accounting treatment. Principal hedged currencies include the euro, Japanese yen, British pound, Mexican peso and Brazilian real. 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 June 29, 2024, the Company had entered into interest rate cross-currency swap derivative agreements with durations up to three years with an aggregate notional value of $625 million to hedge the variability in the movement of foreign currency exchange rates on a portion of its euro-denominated and yen-denominated The Company’s foreign currency exchange contracts, interest rate cross-currency swap agreements and interest rate swap agreements designated as cash flow hedges are included in the consolidated balance sheets are classified as follows (in thousands): June 29, 2024 December 31, 2023 Notional Value Fair Value Notional Value Fair Value Foreign currency exchange contracts: Other current assets $ 16,000 $ 128 $ 24,155 $ 183 Other current liabilities $ 24,428 $ 86 $ 16,000 $ 207 Interest rate cross-currency swap agreements: Other assets $ 405,000 $ 6,010 $ 220,000 $ 4,835 Other liabilities $ 220,000 $ 2,837 $ 405,000 $ 13,384 Accumulated other comprehensive income (loss) $ 13,589 $ (7,975 ) Interest rate swap cash flow hedges: Other assets $ 50,000 $ 206 $ —  $ —  Other liabilities $ 50,000 $ 519 $ 100,000 $ 2,974 Accumulated other comprehensive loss $ (314 ) $ (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 Three Months Ended Six Months Ended Statement Classification June 29, July 1, 2023 June 29, July 1, 2023 Foreign currency exchange contracts: Realized gains on closed contracts Cost of sales $ 794 $ 675 $ 1,051 $ 705 Unrealized gains (losses) on open contracts Cost of sales 117 (213 ) 66 (291 ) Cumulative net pre-tax Cost of sales $ 911 $ 462 $ 1,117 $ 414 Interest rate cross-currency swap agreements: Interest earned Interest income $ 2,590 $ 2,673 $ 5,127 $ 5,328 Unrealized gains (losses) on open contracts Other comprehensive $ 6,647 $ (1,400 ) $ 21,564 $ (8,656 ) Interest rate swap cash flow hedges: Interest earned Interest income $ 278 $ —  $ 574 $ —  Unrealized gains (losses) on open contracts Other comprehensive $ 551 $ —  $ 2,660 $ —
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 its existing share repurchase program through January 21, 2025. The Company’s remaining authorization is $ 1.0 cost of $ million under the Company’s share repurchase program. The Company did not make any open market share repurchases in 2024. In addition, the Company repurchased $ million and $ million of common stock related to the vesting of restricted stock units during the six months ended June 29, 2024 and July 1, 2023, respectively.
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 six months ended June 29, 2024 and July 1, 2023 (in thousands): Balance at Beginning of Period Accruals for Warranties Settlements Made Balance at End of Period Accrued warranty liability: June 29, 2024 $ 12,050 $ 1,880 $ (3,493 ) $ 10,437 July 1, 2023 $ 11,949 $ 3,983 $ (3,523 ) $ 12,409
Restructuring	Restructuring In March 2024, the Company had a reduction in workforce that impacted approximately 2% of the Company’s employees, primarily in China, where there had been a significant decline in sales as a result of lower customer demand, which resulted in the Company incurring approximately million of severance-related costs. During the six months ended June 29, 2024, the Company paid million of severance-related costs in connection with the workforce reductions that occurred in March 2024 and July 2023, with the majority of the remaining costs to be paid in the second half of 2024. The accrued restructuring expense was approximately million at December 31, 2023 and included in other current liabilities on the consolidated balance sheets.
Subsequent Events	Subsequent Event On July 12, 2024 the Company entered into a private Master Note Facility Agreement (the “Shelf Agreement”) pursuant to which the Company may, at its option, authorize the issuance and sale of senior promissory notes (the “Shelf Notes”) up to an aggregate principal amount of million. The purchase of any Shelf Notes is in the sole discretion of NYL Investors LLC. Any Shelf Notes sold or issued pursuant to the Shelf Agreement will mature no more than years after the issuance date and will bear interest on the unpaid balance from the issuance date at the rates specified in the Shelf Agreement. As of July 31, 2024 the Company has issued any Shelf Notes under the Shelf Agreement.

Basis of Presentation and Sum_3

Basis of Presentation and Summary of Significant Accounting Policies (Tables)	6 Months Ended
	Jun. 29, 2024
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 six months ended June 29, 2024 and July 1, 2023 (in thousands): Balance at Additions Deductions and Balance at End Allowance for Credit Losses June 29, 2024 $ 19,335 $ 1,691 $ (6,882 ) $ 14,144 July 1, 2023 $ 14,311 $ 3,075 $ (2,432 ) $ 14,954
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 June 29, 2024 (in thousands): Total at Quoted Prices for Identical (Level 1) Significant Significant (Level 3) Assets: Time deposits $ 934 $ —  $ 934 $ —  Waters 401(k) Restoration Plan assets 30,158 30,158 —  —  Foreign currency exchange contracts 128 —  128 —  Interest rate cross-currency swap agreements 6,010 —  6,010 —  Interest rate swap cash flow hedge 206 —  206 —  Total $ 37,436 $ 30,158 $ 7,278 $ —  Liabilities: Foreign currency exchange contracts $ 86 $ —  $ 86 $ —  Interest rate cross-currency swap agreements 2,837 —  2,837 —  Interest rate swap cash flow hedge 519 —  519 —  Total $ 3,442 $ —  $ 3,442 $ —  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 in Active (Level 1) Significant Significant (Level 3) 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 $ —
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 interest rate swap agreements designated as cash flow hedges are included in the consolidated balance sheets are classified as follows (in thousands): June 29, 2024 December 31, 2023 Notional Value Fair Value Notional Value Fair Value Foreign currency exchange contracts: Other current assets $ 16,000 $ 128 $ 24,155 $ 183 Other current liabilities $ 24,428 $ 86 $ 16,000 $ 207 Interest rate cross-currency swap agreements: Other assets $ 405,000 $ 6,010 $ 220,000 $ 4,835 Other liabilities $ 220,000 $ 2,837 $ 405,000 $ 13,384 Accumulated other comprehensive income (loss) $ 13,589 $ (7,975 ) Interest rate swap cash flow hedges: Other assets $ 50,000 $ 206 $ —  $ —  Other liabilities $ 50,000 $ 519 $ 100,000 $ 2,974 Accumulated other comprehensive loss $ (314 ) $ (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 Three Months Ended Six Months Ended Statement Classification June 29, July 1, 2023 June 29, July 1, 2023 Foreign currency exchange contracts: Realized gains on closed contracts Cost of sales $ 794 $ 675 $ 1,051 $ 705 Unrealized gains (losses) on open contracts Cost of sales 117 (213 ) 66 (291 ) Cumulative net pre-tax Cost of sales $ 911 $ 462 $ 1,117 $ 414 Interest rate cross-currency swap agreements: Interest earned Interest income $ 2,590 $ 2,673 $ 5,127 $ 5,328 Unrealized gains (losses) on open contracts Other comprehensive $ 6,647 $ (1,400 ) $ 21,564 $ (8,656 ) Interest rate swap cash flow hedges: Interest earned Interest income $ 278 $ —  $ 574 $ —  Unrealized gains (losses) on open contracts Other comprehensive $ 551 $ —  $ 2,660 $ —
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 six months ended June 29, 2024 and July 1, 2023 (in thousands): Balance at Beginning of Period Accruals for Warranties Settlements Made Balance at End of Period Accrued warranty liability: June 29, 2024 $ 12,050 $ 1,880 $ (3,493 ) $ 10,437 July 1, 2023 $ 11,949 $ 3,983 $ (3,523 ) $ 12,409

Revenue Recognition (Tables)

Revenue Recognition (Tables)	6 Months Ended
	Jun. 29, 2024
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 six months ended June 29, 2024 and July 1, 2023 (in thousands): June 29, 2024 July 1, 2023 Balance at the beginning of the period $ 323,516 $ 285,175 Recognition of revenue included in balance at beginning of the period (192,050 ) (176,508 ) Revenue deferred during the period, net of revenue recognized 251,599 284,863 Balance at the end of the period $ 383,065 $ 393,530
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): June 29, 2024 Deferred revenue and customer advances expected to be recognized in: One year or less $ 316,933 13-24 41,395 25 months and beyond 24,737 Total $ 383,065

Inventories (Tables)

Inventories (Tables)	6 Months Ended
	Jun. 29, 2024
Inventory Disclosure [Abstract]
Inventory, Net of Reserves	Inventories are classified as follows (in thousands): June 29, 2024 December 31, 2023 Raw materials $ 236,091 $ 233,952 Work in progress 24,976 20,198 Finished goods 261,860 262,086 Total inventories $ 522,927 $ 516,236

Goodwill and Other Intangibles

Goodwill and Other Intangibles (Tables)	6 Months Ended
	Jun. 29, 2024
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): June 29, 2024 December 31, 2023 Gross Accumulated Weighted- Gross Accumulated Weighted- Capitalized software $ 657,175 $ 499,290 5 years $ 660,273 $ 495,317 5 years Purchased intangibles 611,721 218,781 10 years 614,357 197,154 10 years Trademarks 9,680 —     — 9,680 —     — Licenses 14,665 9,029 7 years 14,798 8,429 7 years Patents and other intangibles 114,537 84,280 8 years 111,962 80,983 8 years Total $ 1,407,778 $ 811,380 7 years $ 1,411,070 $ 781,883 7 years

Debt (Tables)

Debt (Tables)	6 Months Ended
	Jun. 29, 2024
Debt Disclosure [Abstract]
Summary of Outstanding Debt	The Company had the following outstanding debt at June 29, 2024 and December 31, 2023 (in thousands): June 29, 2024 December 31, 2023 Senior unsecured notes - Series G - 3.92%, due June 2024 —  50,000 Total notes payable and debt, current —  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 200,000 200,000 Senior unsecured notes - Series M - 3.53%, due September 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 50,000 Senior unsecured notes - Series Q - 4.91%, due May 2030 50,000 50,000 Credit agreement 750,000 1,050,000 Unamortized debt issuance costs (3,991 ) (4,487 ) Total long-term debt 2,006,009 2,305,513 Total debt $ 2,006,009 $ 2,355,513

Earnings Per Share (Tables)

Earnings Per Share (Tables)	6 Months Ended
	Jun. 29, 2024
Earnings Per Share [Abstract]
Earnings Per Share Reconciliation	Basic and diluted EPS calculations are detailed as follows (in thousands, except per share data):  Three Months Ended June 29, 2024 Net Income Weighted- Per Share (Numerator) (Denominator) Amount Net income per basic common share $ 142,737 59,339 $ 2.41 Effect of dilutive stock option, restricted stock, performance stock unit and restricted stock unit securities —  112 (0.01 ) Net income per diluted common share $ 142,737 59,451 $ 2.40 Three Months Ended July 1, 2023 Net Income Weighted- Per Share (Numerator) (Denominator) Amount Net income per basic common share $ 150,554 58,857 $ 2.56 Effect of dilutive stock option, restricted stock, performance stock unit and restricted stock unit securities —  153 (0.01 ) Net income per diluted common share $ 150,554 59,010 $ 2.55 Six Months Ended June 29, 2024 Net Income Weighted- Average Shares Per Share (Numerator) (Denominator) Amount Net income per basic common share $ 244,933 59,287 $ 4.13 Effect of dilutive stock option, restricted stock, performance stock unit and restricted stock unit securities —  158 (0.01 ) Net income per diluted common share $ 244,933 59,445 $ 4.12 Six Months Ended July 1, 2023 Net Income Weighted- Per Share (Numerator) (Denominator) Amount Net income per basic common share $ 291,477 58,703 $ 4.97 Effect of dilutive stock option, restricted stock, performance stock unit and restricted stock unit securities —  206 (0.02 ) Net income per diluted common share $ 291,477 58,909 $ 4.95

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Loss (Tables)	6 Months Ended
	Jun. 29, 2024
Equity [Abstract]
Schedule of Accumulated Other Comprehensive Income (Loss)	The components of accumulated other comprehensive loss are detailed as follows (in thousands): Currency Unrealized Unrealized Accumulated Balance at December 31, 2023 $ (128,359 ) $ (3,501 ) $ (2,260 ) $ (134,120 ) Other comprehensive income (loss), net of tax (16,215 ) 111 2,022 (14,082 ) Balance at June 29, 2024 $ (144,574 ) $ (3,390 ) $ (238 ) $ (148,202 )

Business Segment Information (T

Business Segment Information (Tables)	6 Months Ended
	Jun. 29, 2024
Segment Reporting [Abstract]
Summary of Net Sales for Company's Products and Services	Net sales for the Company’s products and services are as follows for the three and six months ended June 29, 2024 and July 1, 2023 (in thousands): Three Months Ended Six Months Ended June 29, 2024 July 1, 2023 June 29, 2024 July 1, 2023 Product net sales: Waters instrument systems $ 235,228 $ 279,940 $ 426,487 $ 524,151 Chemistry consumables 141,085 135,919 275,292 269,434 TA instrument systems 58,831 62,067 109,516 120,798 Total product sales 435,144 477,926 811,295 914,383 Service net sales: Waters service 246,248 237,376 482,681 461,725 TA service 27,137 25,274 51,392 49,142 Total service sales 273,385 262,650 534,073 510,867 Total net sales $ 708,529 $ 740,576 $ 1,345,368 $ 1,425,250
Summary of Geographic Sales Information	Three Months Ended Six Months Ended June 29, 2024 July 1, 2023 June 29, 2024 July 1, 2023 Net Sales: Asia: China $ 100,105 $ 114,981 $ 185,850 $ 231,046 Japan 33,352 37,380 68,899 83,874 Asia Other 103,974 102,262 190,241 192,784 Total Asia 237,431 254,623 444,990 507,704 Americas: United States 231,931 238,955 434,770 441,260 Americas Other 42,537 43,972 80,869 88,088 Total Americas 274,468 282,927 515,639 529,348 Europe 196,630 203,026 384,739 388,198 Total net sales $ 708,529 $ 740,576 $ 1,345,368 $ 1,425,250
Summary of Net Sales by Customer Class	Net sales by customer class are as follows for the three and six months ended June 29, 2024 and July 1, 2023 (in thousands): Three Months Ended Six Months Ended June 29, 2024 July 1, 2023 June 29, 2024 July 1, 2023 Pharmaceutical $ 415,747 $ 426,744 $ 789,954 $ 811,642 Industrial 221,385 229,655 416,719 439,305 Academic and government 71,397 84,177 138,695 174,303 Total net sales $ 708,529 $ 740,576 $ 1,345,368 $ 1,425,250
Summary of Net Sales of Company Recognized at a Point in Time Versus Over Time	Net sales for the Company recognized at a point in time versus over time are as follows for the three and six months ended June 29, 2024 and July 1, 2023 (in thousands): Three Months Ended Six Months Ended June 29, 2024 July 1, 2023 June 29, 2024 July 1, 2023 Net sales recognized at a point in time: Instrument systems $ 294,059 $ 342,007 $ 536,003 $ 644,949 Chemistry consumables 141,085 135,919 275,292 269,434 Service sales recognized at a point in time (time & materials) 92,075 92,711 175,400 180,918 Total net sales recognized at a point in time 527,219 570,637 986,695 1,095,301 Net sales recognized over time: Service and software maintenance sales recognized over time (contracts) 181,310 169,939 358,673 329,949 Total net sales $ 708,529 $ 740,576 $ 1,345,368 $ 1,425,250

Basis of Presentation and Sum_4

Basis of Presentation and Summary of Significant Accounting Policies - Additional Information (Detail) - USD ($)			1 Months Ended	3 Months Ended			6 Months Ended		12 Months Ended
	Jul. 12, 2024	May 16, 2023	Mar. 30, 2024	Jun. 29, 2024	Mar. 30, 2024	Jul. 01, 2023	Jun. 29, 2024	Jul. 01, 2023	Dec. 31, 2023	Jul. 31, 2024
Basis of Presentation and Summary of Significant Accounting Policies [Line Items]
Cash equivalents description							Cash equivalents represent highly liquid investments, with original maturities of 90 days or less, while investments with longer maturities are classified as investments.
Cash, cash equivalents and investments				$ 327,000,000			$ 327,000,000		$ 396,000,000
Long-term debt				2,006,009,000			$ 2,006,009,000		2,305,513,000
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				245,000		$ 236,000	$ 13,334,000	$ 69,741,000
Restructuring charges							4,000,000		8,000,000
Percentage reduction in the workforce			2%
Payment of severance costs					$ 8,000,000		11,000,000
Wyatt Technology [Member]
Basis of Presentation and Summary of Significant Accounting Policies [Line Items]
Payments to Acquire Businesses, Gross		$ 1,300,000,000
Cross Currency Interest Rate Contract [Member]
Basis of Presentation and Summary of Significant Accounting Policies [Line Items]
Notional value, derivative asset				625,000,000			625,000,000
Programs Authorized by Board of Directors [Member]
Basis of Presentation and Summary of Significant Accounting Policies [Line Items]
Treasury stock shares acquired								200,000
Treasury stock								$ 58,000,000
Stock repurchase program remaining amount authorized for future purchases				1,000,000,000			1,000,000,000
Related to Vesting of Restricted Stock Units [Member]
Basis of Presentation and Summary of Significant Accounting Policies [Line Items]
Treasury stock							13,000,000	$ 11,000,000
Held In Currencies Other Than Us Dollars [Member]
Basis of Presentation and Summary of Significant Accounting Policies [Line Items]
Cash, cash equivalents and investments				228,000,000			228,000,000		233,000,000
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		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		1,300,000,000
Fair value of fixed interest rate debt				1,100,000,000			1,100,000,000		1,200,000,000
Senior Notes [Member] | Subsequent Event [Member] | Shelf Agreement [Member]
Basis of Presentation and Summary of Significant Accounting Policies [Line Items]
Number of debt instrument issued										0
Maximum [Member] | Senior Notes [Member] | Subsequent Event [Member] | Shelf Agreement [Member]
Basis of Presentation and Summary of Significant Accounting Policies [Line Items]
Debt Instrument, Term	15 years
Face value of debt	$ 200,000,000
Held By Foreign Subsidiaries [Member]
Basis of Presentation and Summary of Significant Accounting Policies [Line Items]
Cash, cash equivalents and investments				$ 290,000,000			$ 290,000,000		$ 321,000,000

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	6 Months Ended
	Jun. 29, 2024	Jul. 01, 2023
Allowance for Doubtful Accounts Receivable [Roll Forward]
Beginning balance	$ 19,335	$ 14,311
Additions	1,691	3,075
Deductions and Other	(6,882)	(2,432)
Ending balance	$ 14,144	$ 14,954

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	Jun. 29, 2024	Dec. 31, 2023
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Waters 401(k) Restoration Plan assets	$ 30,158	$ 28,995
Fair value, derivative asset	206
Total	37,436	34,911
Total	3,442	16,565
Foreign Currency Exchange Contract [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value, derivative asset	128	183
Foreign currency exchange contracts	86	207
Cross Currency Interest Rate Contract [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value, derivative asset	6,010	4,835
Foreign currency exchange contracts	2,837	13,384
Interest Rate Swaps Cash Flow Hedges [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Foreign currency exchange contracts	519	2,974
Time Deposits [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available for sale securities	934	898
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	934	898
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	30,158	28,995
Total	30,158	28,995
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]
Fair value, derivative asset	206
Total	7,278	5,916
Total	3,442	16,565
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	128	183
Foreign currency exchange contracts	86	207
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	6,010	4,835
Foreign currency exchange contracts	2,837	13,384
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	519	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
Total	$ 0	$ 0

Basis of Presentation and Sum_7

Basis of Presentation and Summary of Significant Accounting Policies - Fair Value of Forward Foreign Exchange Contracts (Detail) - USD ($)	Jun. 29, 2024	Dec. 31, 2023
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value, derivative asset	$ 206,000
Foreign Currency Exchange Contract [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value, derivative asset	128,000	$ 183,000
Fair value, derivative liability	86,000	207,000
Cross Currency Interest Rate Contract [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Notional , derivative asset	625,000,000
Fair value, derivative asset	6,010,000	4,835,000
Fair value, derivative liability	2,837,000	13,384,000
Interest Rate Swaps Cash Flow Hedges [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value, derivative liability	519,000	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 , derivative asset	16,000,000	24,155,000
Fair value, derivative asset	128,000	183,000
Other Current Liabilities [Member] | Foreign Currency Exchange Contract [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Notional , derivative liability	24,428,000	16,000,000
Fair value, derivative liability	86,000	207,000
Other Assets [Member] | Cross Currency Interest Rate Contract [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Notional , derivative asset	405,000,000	220,000,000
Fair value, derivative asset	6,010,000	4,835,000
Other Assets [Member] | Interest Rate Swaps Cash Flow Hedges [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Notional , derivative asset	50,000,000
Fair value, derivative asset	206,000
Other Liabilities [Member] | Cross Currency Interest Rate Contract [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Notional , derivative liability	220,000,000	405,000,000
Fair value, derivative liability	2,837,000	13,384,000
Other Liabilities [Member] | Interest Rate Swaps Cash Flow Hedges [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Notional , derivative liability	50,000,000	100,000,000
Fair value, derivative liability	519,000	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	13,589,000	(7,975,000)
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	$ (314,000)	$ (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	3 Months Ended		6 Months Ended
	Jun. 29, 2024	Jul. 01, 2023	Jun. 29, 2024	Jul. 01, 2023
Cost of Sales [Member] | Foreign Currency Exchange Contract [Member]
Derivative [Line Items]
Realized gains on closed contracts	$ 794	$ 675	$ 1,051	$ 705
Unrealized gains (losses) on open contracts	117	(213)	66	(291)
Cumulative net pre-tax gains	911	462	1,117	414
Interest Income [Member] | Cross Currency Interest Rate Contract [Member]
Derivative [Line Items]
Interest earned	2,590	2,673	5,127	5,328
Interest Income [Member] | Interest Rate Swaps Cash Flow Hedges [Member]
Derivative [Line Items]
Interest earned	278		574
Other comprehensive income [Member] | Cross Currency Interest Rate Contract [Member]
Derivative [Line Items]
Unrealized gains (losses) on open contracts	6,647	$ (1,400)	21,564	$ (8,656)
Other comprehensive income [Member] | Interest Rate Swaps Cash Flow Hedges [Member]
Derivative [Line Items]
Unrealized gains (losses) on open contracts	$ 551		$ 2,660

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	6 Months Ended
	Jun. 29, 2024	Jul. 01, 2023
Movement in Standard Product Warranty Accrual [Roll Forward]
Balance at Beginning of Period	$ 12,050	$ 11,949
Accruals for Warranties	1,880	3,983
Settlements Made	(3,493)	(3,523)
Balance at End of Period	$ 10,437	$ 12,409

Revenue Recognition - Additiona

Revenue Recognition - Additional Information (Detail) - USD ($) $ in Millions	Jun. 29, 2024	Dec. 31, 2023
Other Long-Term Liabilities [Member]
Revenue Recognition [Line Items]
Deferred revenue and customer advances	$ 66	$ 67

Revenue Recognition - Summary o

Revenue Recognition - Summary of Activity of the Company's Deferred Revenue and Customer Advances (Detail) - USD ($) $ in Thousands	6 Months Ended
	Jun. 29, 2024	Jul. 01, 2023
Revenue Recognition and Deferred Revenue [Abstract]
Balance at the beginning of the period	$ 323,516	$ 285,175
Recognition of revenue included in balance at beginning of the period	(192,050)	(176,508)
Revenue deferred during the period, net of revenue recognized	251,599	284,863
Balance at the end of the period	$ 383,065	$ 393,530

Revenue Recognition - Schedule

Revenue Recognition - Schedule of Estimated Amount of Deferred Revenue and Customer Advances (Detail) - USD ($) $ in Thousands	Jun. 29, 2024	Dec. 31, 2023
Revenue Recognition [Line Items]
Deferred revenue and customer advances expected to be recognized	$ 316,933	$ 256,675
Deferred revenue and customer advances expected to be recognized	383,065
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	$ 316,933
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	$ 41,395
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	$ 24,737
Deferred revenue and customer advances recognition period	25 months

Marketable Securities - Additio

Marketable Securities - Additional Information (Detail) - USD ($) $ in Millions	Jun. 29, 2024	Dec. 31, 2023
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	Jun. 29, 2024	Dec. 31, 2023
Inventory, Net, Items Net of Reserve Alternative [Abstract]
Raw materials	$ 236,091	$ 233,952
Work in progress	24,976	20,198
Finished goods	261,860	262,086
Total inventories	$ 522,927	$ 516,236

Goodwill and Other Intangible_2

Goodwill and Other Intangibles - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 29, 2024	Jul. 01, 2023	Jun. 29, 2024	Jul. 01, 2023	Dec. 31, 2023
Goodwill	$ 1,297,796		$ 1,297,796		$ 1,305,446
Intangible assets, gross foreign currency translation adjustments			23,000
Intangible assets, accumulated amortization foreign currency translation adjustments			22,000
Amortization expense	25,000	$ 18,000	51,000	$ 30,000
Future amortization expense, year 1	105,000		105,000
Future amortization expense, year 2	105,000		105,000
Future amortization expense, year 3	105,000		105,000
Future amortization expense, year 4	105,000		105,000
Future amortization expense, year 5	105,000		105,000
Intangible assets other than goodwill capitalized during the period	$ 10,000	$ 431,000	$ 20,000	$ 445,000

Goodwill and Other Intangible_3

Goodwill and Other Intangibles - Schedule of Intangible Assets (Detail) - USD ($) $ in Thousands	Jun. 29, 2024	Dec. 31, 2023
Finite Lived and Indefinite Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 1,407,778	$ 1,411,070
Accumulated Amortization	$ 811,380	$ 781,883
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	657,175	660,273
Accumulated Amortization	$ 499,290	$ 495,317
Weighted-Average Amortization Period	5 years	5 years
Purchased Intangibles [Member]
Finite Lived and Indefinite Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 611,721	$ 614,357
Accumulated Amortization	$ 218,781	$ 197,154
Weighted-Average Amortization Period	10 years	10 years
Licensing Agreements [Member]
Finite Lived and Indefinite Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 14,665	$ 14,798
Accumulated Amortization	$ 9,029	$ 8,429
Weighted-Average Amortization Period	7 years	7 years
Patents and Other Intangibles [Member]
Finite Lived and Indefinite Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 114,537	$ 111,962
Accumulated Amortization	$ 84,280	$ 80,983
Weighted-Average Amortization Period	8 years	8 years

Debt - Additional Information (

Debt - Additional Information (Detail) - USD ($) $ in Thousands	6 Months Ended
	Jun. 29, 2024	Dec. 31, 2023	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	$ 2,006,009	$ 2,305,513
Line of credit maximum borrowing capacity	$ 111,000	114,000
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	$ 1,200,000	900,000
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 achange 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	4.44%	4.69%
Revolving Facilities [Member] | Notes Payable to Banks [Member]
Debt Instrument [Line Items]
Face value of debt			$ 2,000,000
2021 Credit Facility [Member]
Debt Instrument [Line Items]
Long term debt gross	$ 800,000	$ 1,100,000
Debt Instrument, Term	5 years

Debt - Summary of Outstanding D

Debt - Summary of Outstanding Debt (Detail) - USD ($) $ in Thousands	Jun. 29, 2024	Dec. 31, 2023
Debt Instrument [Line Items]
Total notes payable and debt, current	$ 0	$ 50,000
Unamortized debt issuance costs	(3,991)	(4,487)
Total long-term debt	2,006,009	2,305,513
Total debt	2,006,009	2,355,513
Credit Agreement [Member]
Debt Instrument [Line Items]
Long-term debt	750,000	1,050,000
Senior Unsecured Notes Series G [Member]
Debt Instrument [Line Items]
Total notes payable and debt, current	0	50,000
Senior Unsecured Notes Series K [Member]
Debt Instrument [Line Items]
Total notes payable and debt, current	160,000	160,000
Senior Unsecured Notes Series L [Member]
Debt Instrument [Line Items]
Total notes payable and debt, current	200,000	200,000
Senior Unsecured Notes Series M [Member]
Debt Instrument [Line Items]
Total notes payable and debt, current	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	50,000
Senior Unsecured Notes Series Q [Member]
Debt Instrument [Line Items]
Long-term debt	$ 50,000	$ 50,000

Debt - Summary of Outstanding_2

Debt - Summary of Outstanding Debt (Parenthetical) (Detail)	Jun. 29, 2024	Dec. 31, 2023
Senior Unsecured Notes Series G [Member]
Debt Instrument [Line Items]
Stated interest rate on debt instrument	3.92%	3.92%
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%

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 29, 2024	Jul. 01, 2023	Jun. 29, 2024	Jul. 01, 2023
Income Taxes [Line Items]
Income tax holiday amount			$ 5	$ 7
Income tax holiday per share benefit			$ 0.09	$ 0.11
Effective income tax rate	15.70%	16.50%	13.80%	15.60%
Gross unrecognized tax benefit would impact the Company's effective tax rate	$ 15	$ 30	$ 15	$ 30
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%

Litigation - Additional Informa

Litigation - Additional Information (Detail) $ in Millions	6 Months Ended
	Jun. 29, 2024 USD ($)
Obligation with Joint and Several Liability Arrangement [Line Items]
Litigation provision during the year	$ 10

Other Commitments and Conting_2

Other Commitments and Contingencies Additional Information (Detail)	6 Months Ended
	Jun. 29, 2024
Commitments and Contingencies Disclosure [Abstract]
Future Minimum License Fees Payable	Future minimum license fees payable under existing license agreements as of June 29, 2024 are immaterial for the years ended December 31, 2024 and thereafter.

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		6 Months Ended
	Jun. 29, 2024	Jul. 01, 2023	Jun. 29, 2024	Jul. 01, 2023
Earnings Per Share [Abstract]
Net income per basic common share, Net Income (Numerator)	$ 142,737	$ 150,554	$ 244,933	$ 291,477
Net income per diluted common share, Net Income (Numerator)	$ 142,737	$ 150,554	$ 244,933	$ 291,477
Net income per basic common share, Weighted-Average Shares (Denominator)	59,339	58,857	59,287	58,703
Effect of dilutive stock option, restricted stock, performance stock unit and restricted stock unit securities, Weighted-Average Shares (Denominator)	112	153	158	206
Net income per diluted common share, Weighted-Average Shares (Denominator)	59,451	59,010	59,445	58,909
Net income per basic common share, Per Share Amount	$ 2.41	$ 2.56	$ 4.13	$ 4.97
Effect of dilutive stock option, restricted stock, performance stock unit and restricted stock unit securities, Per Share Amount	(0.01)	(0.01)	(0.01)	(0.02)
Net income per diluted common share, Per Share Amount	$ 2.4	$ 2.55	$ 4.12	$ 4.95

Earnings Per Share - Additional

Earnings Per Share - Additional Information (Detail) - shares shares in Thousands	3 Months Ended		6 Months Ended
	Jun. 29, 2024	Jul. 01, 2023	Jun. 29, 2024	Jul. 01, 2023
Earnings Per Share [Abstract]
Antidilutive securities excluded from computation of earnings per share	270	362	128	260

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Income (Loss) - Schedule of Accumulated Other Comprehensive Income (Loss) (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 29, 2024	Jul. 01, 2023	Jun. 29, 2024	Jul. 01, 2023
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance	$ 1,256,525	$ 599,823	$ 1,150,341	$ 504,488
Other comprehensive income (loss), net of tax	(6,319)	3,996	(14,082)	12,772
Ending balance	1,411,967	771,229	1,411,967	771,229
Currency Translation [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance			(128,359)
Other comprehensive income (loss), net of tax			(16,215)
Ending balance	(144,574)		(144,574)
Unrealized Gain (Loss) on Retirement Plans [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance			(3,501)
Other comprehensive income (loss), net of tax			111
Ending balance	(3,390)		(3,390)
Unrealized Loss on Derivative Instruments [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance			(2,260)
Other comprehensive income (loss), net of tax			2,022
Ending balance	(238)		(238)
Accumulated Other Comprehensive Loss [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance	(141,883)	(132,796)	(134,120)	(141,572)
Other comprehensive income (loss), net of tax			(14,082)
Ending balance	$ (148,202)	$ (128,800)	$ (148,202)	$ (128,800)

Business Segment Information -

Business Segment Information - Additional Information (Detail)	6 Months Ended
	Jun. 29, 2024 Segment
Segment Reporting [Abstract]
Number of operating segments	2
Number of reportable segments	1

Business Segment Information _2

Business Segment Information - Summary of Net Sales for Company's Products and Services (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 29, 2024	Jul. 01, 2023	Jun. 29, 2024	Jul. 01, 2023
Disaggregation of Revenue [Line Items]
Total net sales	$ 708,529	$ 740,576	$ 1,345,368	$ 1,425,250
Waters Instrument Systems [Member]
Disaggregation of Revenue [Line Items]
Total net sales	235,228	279,940	426,487	524,151
Chemistry Consumables [Member]
Disaggregation of Revenue [Line Items]
Total net sales	141,085	135,919	275,292	269,434
TA Instrument Systems [Member]
Disaggregation of Revenue [Line Items]
Total net sales	58,831	62,067	109,516	120,798
Product [Member]
Disaggregation of Revenue [Line Items]
Total net sales	435,144	477,926	811,295	914,383
Waters Service [Member]
Disaggregation of Revenue [Line Items]
Total net sales	246,248	237,376	482,681	461,725
TA Service [Member]
Disaggregation of Revenue [Line Items]
Total net sales	27,137	25,274	51,392	49,142
Service [Member]
Disaggregation of Revenue [Line Items]
Total net sales	$ 273,385	$ 262,650	$ 534,073	$ 510,867

Business Segment Information _3

Business Segment Information - Summary of Geographic Sales Information (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 29, 2024	Jul. 01, 2023	Jun. 29, 2024	Jul. 01, 2023
Disaggregation of Revenue [Line Items]
Total net sales	$ 708,529	$ 740,576	$ 1,345,368	$ 1,425,250
China [Member]
Disaggregation of Revenue [Line Items]
Total net sales	100,105	114,981	185,850	231,046
Japan [Member]
Disaggregation of Revenue [Line Items]
Total net sales	33,352	37,380	68,899	83,874
Asia Other [Member]
Disaggregation of Revenue [Line Items]
Total net sales	103,974	102,262	190,241	192,784
Total Asia [Member]
Disaggregation of Revenue [Line Items]
Total net sales	237,431	254,623	444,990	507,704
United States [Member]
Disaggregation of Revenue [Line Items]
Total net sales	231,931	238,955	434,770	441,260
Americas Other [Member]
Disaggregation of Revenue [Line Items]
Total net sales	42,537	43,972	80,869	88,088
Total Americas [Member]
Disaggregation of Revenue [Line Items]
Total net sales	274,468	282,927	515,639	529,348
Europe [Member]
Disaggregation of Revenue [Line Items]
Total net sales	$ 196,630	$ 203,026	$ 384,739	$ 388,198

Business Segment Information _4

Business Segment Information - Summary of Net Sales by Customer Class (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 29, 2024	Jul. 01, 2023	Jun. 29, 2024	Jul. 01, 2023
Revenue, Major Customer [Line Items]
Total net sales	$ 708,529	$ 740,576	$ 1,345,368	$ 1,425,250
Pharmaceutical [Member]
Revenue, Major Customer [Line Items]
Total net sales	415,747	426,744	789,954	811,642
Industrial [Member]
Revenue, Major Customer [Line Items]
Total net sales	221,385	229,655	416,719	439,305
Academic and government [Member]
Revenue, Major Customer [Line Items]
Total net sales	$ 71,397	$ 84,177	$ 138,695	$ 174,303

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		6 Months Ended
	Jun. 29, 2024	Jul. 01, 2023	Jun. 29, 2024	Jul. 01, 2023
Disaggregation of Revenue [Line Items]
Total net sales	$ 708,529	$ 740,576	$ 1,345,368	$ 1,425,250
Chemistry Consumables [Member]
Disaggregation of Revenue [Line Items]
Total net sales	141,085	135,919	275,292	269,434
Service [Member]
Disaggregation of Revenue [Line Items]
Total net sales	273,385	262,650	534,073	510,867
Net Sales Recognized at a Point in Time: [Member]
Disaggregation of Revenue [Line Items]
Total net sales	527,219	570,637	986,695	1,095,301
Net Sales Recognized at a Point in Time: [Member] | Instrument Systems [Member]
Disaggregation of Revenue [Line Items]
Total net sales	294,059	342,007	536,003	644,949
Net Sales Recognized at a Point in Time: [Member] | Chemistry Consumables [Member]
Disaggregation of Revenue [Line Items]
Total net sales	141,085	135,919	275,292	269,434
Net Sales Recognized at a Point in Time: [Member] | Service [Member]
Disaggregation of Revenue [Line Items]
Total net sales	92,075	92,711	175,400	180,918
Net Sales Recognized Over Time: [Member]
Disaggregation of Revenue [Line Items]
Total net sales	708,529	740,576	1,345,368	1,425,250
Net Sales Recognized Over Time: [Member] | Service [Member]
Disaggregation of Revenue [Line Items]
Total net sales	$ 181,310	$ 169,939	$ 358,673	$ 329,949

Recent Accounting Standard Ch_2

Recent Accounting Standard Changes and Developments - Additional Information (Detail)	6 Months Ended
	Jun. 29, 2024
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
New Accounting Pronouncement or Change in Accounting Principle, Description	no