Qiagen (QGEN) 20-F 8 Mar 24 2023 FY Annual report (foreign) Financial data

Cover Page

Cover Page	12 Months Ended
	Dec. 31, 2023 shares
Entity Addresses [Line Items]
Document Type	20-F
Document Registration Statement	false
Document Annual Report	true
Document Period End Date	Dec. 31, 2023
Current Fiscal Year End Date	--12-31
Document Transition Report	false
Document Shell Company Report	false
Entity File Number	001-38332
Entity Registrant Name	QIAGEN N.V.
Entity Incorporation, State or Country Code	P7
Entity Address, Address Line One	Hulsterweg 82
Entity Address, Postal Zip Code	5912 PL
Entity Address, City or Town	Venlo
Entity Address, Country	NL
Title of 12(b) Security	Common Shares, par value EUR 0.01 per share
Trading Symbol	QGEN
Security Exchange Name	NYSE
Entity Common Stock, Shares Outstanding	228,202,755
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	true
Document Financial Statement Error Correction [Flag]	false
Document Accounting Standard	U.S. GAAP
Entity Shell Company	false
Entity Central Index Key	0001015820
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	FY
Amendment Flag	false
Business Contact
Entity Addresses [Line Items]
Entity Address, Address Line One	Hulsterweg 82
Entity Address, Postal Zip Code	5912 PL
Entity Address, City or Town	Venlo
Entity Address, Country	NL
Contact Personnel Name	Roland Sackers
Contact Personnel Fax Number	011-31-77-355-6658

Audit Information

Audit Information	12 Months Ended
	Dec. 31, 2023
Audit Information [Abstract]
Auditor Name	KPMG AG Wirtschaftsprüfungsgesellschaft
Auditor Location	Düsseldorf, Germany,
Auditor Firm ID	1021

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Current assets:
Cash and cash equivalents	$ 668,084	$ 730,669
Short-term investments	389,698	687,597
Accounts receivable, net of allowance for credit losses of $17,296 and $22,880, respectively	381,877	323,750
Inventories, net	398,385	357,960
Prepaid expenses and other current assets (of which $78 and $11,929 in 2023 and 2022 due from related parties, respectively)	309,516	293,976
Total current assets	2,147,560	2,393,952
Long-term assets:
Property, plant and equipment, net of accumulated depreciation of $516,765 and $502,967, respectively	765,037	662,170
Goodwill	2,475,732	2,352,569
Intangible assets, net of accumulated amortization of $748,590 and $727,691, respectively	526,821	544,796
Fair value of derivative instruments - long-term	3,083	131,354
Other long-term assets	196,957	202,894
Total long-term assets	3,967,630	3,893,783
Total assets	6,115,190	6,287,735
Current liabilities:
Current portion of long-term debt	587,970	389,552
Accrued and other current liabilities	407,168	486,237
Accounts payable	84,155	98,734
Total current liabilities	1,079,293	974,523
Long-term liabilities:
Long-term debt, net of current portion	921,824	1,471,898
Fair value of derivative instruments - long-term	98,908	156,718
Other long-term liabilities	207,401	217,985
Total long-term liabilities	1,228,133	1,846,601
Commitments and contingencies
Equity:
Preference shares, 0.01 EUR par value, authorized—450,000 shares, no shares issued and outstanding	0	0
Financing preference shares, 0.01 EUR par value, authorized—40,000 shares, no shares issued and outstanding	0	0
Common Shares, 0.01 EUR par value, authorized—410,000 shares, issued—230,829 shares	2,702	2,702
Additional paid-in capital	1,915,115	1,868,015
Retained earnings	2,456,800	2,160,173
Accumulated other comprehensive loss	(433,830)	(404,091)
Less treasury shares, at cost—2,627 and 3,113 shares, respectively	(133,023)	(160,188)
Total equity	3,807,764	3,466,611
Total liabilities and equity	$ 6,115,190	$ 6,287,735

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) $ in Thousands	Dec. 31, 2023 USD ($) shares	Dec. 31, 2023 € / shares	Dec. 31, 2022 USD ($) shares	Dec. 31, 2022 € / shares
Current assets:
Accounts receivable - allowance for doubtful accounts | $	$ 17,296		$ 22,880
Total prepaid expenses and other current assets | $	309,516		293,976
Long-term assets:
Property, plant and equipment - accumulated depreciation | $	516,765		502,967
Intangible assets - accumulated amortization | $	$ 748,590		$ 727,691
Preference shares, 0.01 EUR par value, authorized—450,000 shares, no shares issued and outstanding
Preference shares - par value (in EUR per share) | € / shares		€ 0.01		€ 0.01
Preference shares - shares authorized (in shares)	450,000,000
Preference shares - shares issued (in shares)	0
Preference shares - shares outstanding (in shares)	0
Financing preference shares, 0.01 EUR par value, authorized—40,000 shares, no shares issued and outstanding
Financing preference shares - par value (in EUR per share) | € / shares		0.01		€ 0.01
Financing preference shares - shares authorized (in shares)	40,000,000
Financing preference shares - shares issued (in shares)	0		0
Financing preference shares - shares outstanding (in shares)	0		0
Common Shares, 0.01 EUR par value, authorized—410,000 shares, issued—230,829 shares
Common shares - par value (in EUR per share) | € / shares		€ 0.01
Common shares - shares authorized (in shares)	410,000,000
Common stock - shares issued (in shares)	230,829,000		230,829,000
Less treasury shares, at cost—2,627 and 3,113 shares, respectively
Treasury shares (in shares)	(2,627,000)		(3,113,000)
Related Party
Current assets:
Total prepaid expenses and other current assets | $	$ 78		$ 11,929

Consolidated Statements of Inco

Consolidated Statements of Income - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Income Statement [Abstract]
Net sales	$ 1,965,311	$ 2,141,518	$ 2,251,657
Cost of sales:
Cost of sales	667,425	696,472	733,719
Acquisition-related intangible amortization	64,198	60,483	67,118
Total cost of sales	731,623	756,955	800,837
Gross profit	1,233,688	1,384,563	1,450,820
Operating expenses:
Sales and marketing	459,912	474,220	456,392
Research and development	198,511	189,859	189,964
General and administrative	119,254	129,725	128,076
Acquisition-related intangible amortization	10,764	14,531	18,542
Restructuring, acquisition, integration and other, net	35,309	44,768	27,762
Total operating expenses	823,750	853,103	820,736
Income from operations	409,938	531,460	630,084
Other income (expense):
Interest income	78,992	32,757	9,555
Interest expense	(53,410)	(58,357)	(54,477)
Other (expense) income, net	(5,711)	6,741	40,671
Total other income (expense), net	19,871	(18,859)	(4,251)
Income before income tax expense	429,809	512,601	625,833
Income tax expense	88,506	89,390	113,234
Net income	$ 341,303	$ 423,211	$ 512,599
Basic earnings per common share (in USD per share)	$ 1.50	$ 1.86	$ 2.25
Diluted earnings per common share (in USD per share)	$ 1.48	$ 1.84	$ 2.21
Weighted-average common shares outstanding:
Basic (in shares)	228,146	227,577	227,983
Diluted (in shares)	230,619	230,136	232,034

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Statement of Comprehensive Income [Abstract]
Net income	$ 341,303	$ 423,211	$ 512,599
Other comprehensive (loss) income to be reclassified to profit or loss in subsequent periods:
(Losses) gains on cash flow hedges (net of $18,344 tax benefit in 2023)	(52,755)	(24,098)	16,780
Reclassification adjustments on cash flow hedges (net of $17,183 tax expense in 2023)	49,417	21,940	(17,010)
Cash flow hedges, net of tax	(3,338)	(2,158)	(230)
Net investment hedge	(18,396)	(14,724)	24,743
Gain on pension (net of $72, $528 and $5 tax expense in 2023, 2022 and 2021, respectively)	167	1,233	11
Foreign currency translation adjustments (net of $854 and $1,674 tax benefit in 2022 and 2021, respectively)	(8,172)	(61,772)	(107,372)
Other comprehensive loss	(29,739)	(77,421)	(82,848)
Comprehensive income	$ 311,564	$ 345,790	$ 429,751

Consolidated Statements of Co_2

Consolidated Statements of Comprehensive Income (Parenthetical) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Statement of Comprehensive Income [Abstract]
Gains (losses) on cash flow hedges - tax expense (benefit)	$ (18,344)
Reclassification adjustments on cash flow hedges - tax expense (benefit)	(17,183)
Gain (loss) on pension - tax expense	$ (72)	$ (528)	$ (5)
Foreign currency translation adjustments - tax expense (benefit)		$ 854	$ 1,674

Consolidated Statements of Chan

Consolidated Statements of Changes in Equity - USD ($) shares in Thousands, $ in Thousands	Total	Impact of Change in Accounting Policy	Common shares	Additional paid-in capital	Additional paid-in capital Impact of Change in Accounting Policy	Retained earnings	Retained earnings Impact of Change in Accounting Policy	Accumulated other comprehensive income (loss)	Treasury shares
Balance (in shares) at Dec. 31, 2020			230,829
Balance (in shares) at Dec. 31, 2020									(2,844)
Balance at Dec. 31, 2020	$ 2,797,839	$ (53,789)	$ 2,702	$ 1,834,169	$ (54,052)	$ 1,323,091	$ 263	$ (243,822)	$ (118,301)
Increase (Decrease) in Stockholders' Equity
Net income	512,599					512,599
Other comprehensive loss	(82,848)							(82,848)
Purchase of treasury shares (in shares)									(1,891)
Purchase of treasury shares	(99,987)								$ (99,987)
Issuance of common shares in connection with stock plan (in shares)									1,441
Issuance of common shares in connection with stock plan	7,919					(44,213)			$ 52,132
Tax withholding related to vesting of stock awards (in shares)									(461)
Tax withholding related to vesting of stock awards	(23,574)								$ (23,574)
Share-based compensation	38,391			38,391
Balance (in shares) at Dec. 31, 2021			230,829
Balance (in shares) at Dec. 31, 2021									(3,755)
Balance at Dec. 31, 2021	3,096,550		$ 2,702	1,818,508		1,791,740		(326,670)	$ (189,730)
Increase (Decrease) in Stockholders' Equity
Net income	423,211					423,211
Other comprehensive loss	(77,421)							(77,421)
Issuance of common shares in connection with stock plan (in shares)									1,171
Issuance of common shares in connection with stock plan	121					(54,778)			$ 54,899
Tax withholding related to vesting of stock awards (in shares)									(529)
Tax withholding related to vesting of stock awards	(25,357)								$ (25,357)
Share-based compensation	$ 49,507			49,507
Balance (in shares) at Dec. 31, 2022			230,829
Balance (in shares) at Dec. 31, 2022	(3,113)								(3,113)
Balance at Dec. 31, 2022	$ 3,466,611		$ 2,702	1,868,015		2,160,173		(404,091)	$ (160,188)
Increase (Decrease) in Stockholders' Equity
Net income	341,303					341,303
Other comprehensive loss	(29,739)							(29,739)
Issuance of common shares in connection with stock plan (in shares)									873
Issuance of common shares in connection with stock plan	164					(44,676)			$ 44,840
Tax withholding related to vesting of stock awards (in shares)									(387)
Tax withholding related to vesting of stock awards	(17,675)								$ (17,675)
Share-based compensation	$ 47,100			47,100
Balance (in shares) at Dec. 31, 2023			230,829
Balance (in shares) at Dec. 31, 2023	(2,627)								(2,627)
Balance at Dec. 31, 2023	$ 3,807,764		$ 2,702	$ 1,915,115		$ 2,456,800		$ (433,830)	$ (133,023)

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Net Cash Provided by (Used in) Operating Activities [Abstract]
Net income	$ 341,303	$ 423,211	$ 512,599
Adjustments to reconcile net income to net cash provided by operating activities, net of effects of businesses acquired:
Depreciation and amortization	205,336	208,397	214,931
Non-cash impairments	4,158	12,970	0
Amortization of debt discount and issuance costs	30,162	33,701	32,294
Share-based compensation expense	47,100	49,507	38,391
Deferred tax expense (benefit)	10,731	(9,603)	(5,288)
Loss on marketable securities	0	6,230	6,550
Gain on sale of investment	0	0	(36,086)
Other items, net including fair value changes in derivatives	7,623	22,732	5,622
Net changes in operating assets and liabilities:
Accounts receivable	(55,119)	15,451	(7,402)
Inventories	(44,787)	(61,950)	(81,803)
Prepaid expenses and other current assets	4,390	58,999	13,918
Other long-term assets	691	(2,025)	1,400
Accounts payable	(22,417)	(1,756)	(5,975)
Accrued and other current liabilities	(55,583)	(17,837)	(71,681)
Income taxes	(7,458)	(21,894)	(12,832)
Other long-term liabilities	(6,675)	(869)	34,363
Net cash provided by operating activities	459,455	715,264	639,001
Cash flows from investing activities:
Purchases of property, plant and equipment	(149,710)	(129,224)	(189,904)
Purchases of intangible assets	(13,092)	(20,112)	(16,630)
Purchases of short-term investments	(976,448)	(1,385,929)	(397,650)
Proceeds from redemptions of short-term investments	1,270,551	883,083	359,560
Cash paid for acquisitions, net of cash acquired	(149,532)	(63,651)	0
Cash (paid) received for collateral asset	(66,583)	(9,881)	44,900
Purchases of investments, net	(2,870)	(1,156)	(2,645)
Other investing activities	29	107	(57)
Net cash used in investing activities	(87,655)	(726,763)	(202,426)
Cash flows from financing activities:
Proceeds from long-term debt, net of issuance costs	0	371,452	0
Repayment of long-term debt	(400,000)	(480,003)	(41,345)
Proceeds from exercise of call options related to cash convertible notes	36,762	0	0
Payment of intrinsic value of cash convertible notes	(36,762)	0	0
Tax withholding related to vesting of stock awards	(17,675)	(25,357)	(23,574)
Cash (paid) received for collateral liability	(16,315)	12,556	8,600
Proceeds from issuance of common shares	163	121	7,919
Cash paid for contingent consideration	0	(4,572)	0
Purchase of treasury shares	0	0	(99,987)
Other financing activities	0	0	(1,979)
Net cash used in financing activities	(433,827)	(125,803)	(150,366)
Effect of exchange rate changes on cash and cash equivalents	(558)	(12,545)	(3,677)
Net (decrease) increase in cash and cash equivalents	(62,585)	(149,847)	282,532
Cash and cash equivalents, beginning of period	730,669	880,516	597,984
Cash and cash equivalents, end of period	668,084	730,669	880,516
Supplemental cash flow disclosures:
Cash paid for interest	20,348	23,208	21,588
Cash paid for income taxes, net of refunds	82,409	120,476	102,083
Supplemental disclosure of non-cash investing activities:
Equity securities acquired in non-monetary exchange	2,604	1,475	35,705
Intangible asset received in exchange for note receivable	$ 0	$ 0	$ 14,989

Corporate Information and Basis

Corporate Information and Basis of Presentation	12 Months Ended
	Dec. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Corporate Information and Basis of Presentation	Corporate Information and Basis of Presentation Corporate Information QIAGEN N.V. is a public limited liability company (naamloze vennootschap) under Dutch law with a registered office at Hulsterweg 82, 5912 PL Venlo, The Netherlands. QIAGEN N.V., a Netherlands holding company, and subsidiaries (we, our or the Company) is a leading global provider of Sample to Insight solutions that enable customers to gain valuable molecular insights from samples containing the building blocks of life. Our sample technologies isolate and process DNA, RNA and proteins from blood, tissue and other materials. Assay technologies make these biomolecules visible and ready for analysis. Bioinformatics software and knowledge bases interpret genomic data to report relevant, actionable insights. Automation solutions tie these together in seamless and cost-effective workflows. We provide solutions to more than 500,000 customers around the world in Molecular Diagnostics (human healthcare) and Life Sciences (academia, pharma R&D and industrial applications, primarily forensics). As of December 31, 2023 , we employed approximately 6,000 people in over 35 locations worldwide. Basis of Presentation The accompanying consolidated financial statements were prepared in accordance with U.S. generally accepted accounting principles (GAAP) and all amounts are presented in U.S. dollars rounded to the nearest thousand, unless otherwise indicated. As of April 1, 2022, the results of our subsidiary in Türkiye are reported under highly inflationary accounting as the prior three-years cumulative inflation rate exceeded 100 percent. QIAGEN has a subsidiary in Moscow, Russia. Due to uncertainties related to the war in Ukraine, and although not material to our consolidated results of operations, during the year ended December 31, 2022, we recorded a combination of credit losses, write-offs and impairments related to our business in Russia totaling $4.0 million . These charges are included in the line item restructuring, acquisition, integration and other, net in the accompanying consolidated statement of income . We have suspended activities in Russia and also with our former commercial partner in Belarus. We undertake acquisitions to complement our own internal product development activities. In January 2023, we acquired Verogen, Inc., a leader in the use of next-generation sequencing (NGS) technologies to drive the future of human identification (HID) and forensic investigation located in San Diego, California. In May 2022, we acquired BLIRT S.A., a supplier of standardized and customized solutions for proteins and enzymes as well as molecular biology reagents located in Gdańsk, Poland. At the acquisition dates, all the assets acquired and liabilities assumed were recorded at their respective fair values and our consolidated results of operations include the operating results from the acquired companies from the acquisition dates. These acquisitions were not significant to the overall consolidated financial statements.

Effects of New Accounting Prono

Effects of New Accounting Pronouncements	12 Months Ended
	Dec. 31, 2023
Accounting Changes and Error Corrections [Abstract]
Effects of New Accounting Pronouncements	Effects of New Accounting Pronouncements The following new Financial Accounting Standards Board (FASB) Accounting Standards Updates (ASU) were adopted in 2023 , 2022 and 2021 : Adoption of New Accounting Standards in 2023 No adoption of new accounting standards in 2023. Adoption of New Accounting Standards in 2022 ASU 2021-08, Accounting for Contract Assets and Contract Liabilities from Contracts with Customers, creates an exception to the recognition and measurement principles in ASC 805, Business Combinations. The amendments require an acquirer to use the guidance in ASC 606, Revenue from Contracts with Customers, rather than using fair value, when recognizing and measuring contract assets and contract liabilities related to customer contracts assumed in a business combination. We early adopted ASU 2021-08 on January 1, 2022. The amended guidance applies on a prospective basis to business combinations that occur after the adoption date. Adoption of New Accounting Standards in 2021 ASU 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes, removed certain exceptions for recognizing deferred taxes for investments, performing intraperiod tax allocations and calculating income taxes in interim periods. The ASU also adds guidance to reduce complexity in certain areas, including recognizing deferred taxes for tax goodwill and allocating income taxes to members of a consolidated group. We adopted the ASU on the effective date of January 1, 2021 and the adoption of this guidance did not have an impact on our consolidated financial statements on the date of adoption. ASU 2020-06, Debt-Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging—Contracts in Entity’s Own Equity (Subtopic 815-40): Accounting for Convertible Instruments and Contracts in an Entity’s Own Equity, reduced the number of accounting models for convertible instruments. The ASU also amended diluted earnings per share (EPS) calculations for convertible instruments, which will result in more dilutive EPS results, and also amended the requirements for a contract (or embedded derivative) that is potentially settled in an entity’s own shares to be classified in equity. ASU 2020-06 was effective for annual periods beginning on January 1, 2022, with earlier adoption on January 1, 2021 permitted. We adopted ASU 2020-06 early on January 1, 2021 and this resulted in a decrease of $54.1 million to additional paid-in capital and an increase of $0.3 million to retained earnings for the conversion feature to the liability for our 2027 Convertible Notes further discussed in Note 16 "Debt." New Accounting Standards Not Yet Adopted The followi ng new FASB Accounting Standards Updates were not yet adopted as of December 31, 2023 : ASU 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures was issued in response to stakeholder requests for more decision-useful information about reportable segments. The amendments in ASU 2023-07 improve reportable segment disclosure requirements through enhanced disclosures. This ASU does not change how a public entity identifies its operating segments, aggregates those operating segments or applies the quantitative thresholds to determine reportable segments. This ASU is effective for fiscal years beginning after Decembe r 15, 20 23, and early adoption is permitted. We will adopt the new disclosures retrospectively to all prior periods presented in the financial statements beginning with the annual reporting for the year ended December 31, 2024. ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures enhances annual income tax disclosures to address investor requests for more information about the tax risks and opportunities present in an entity's worldwide operations. The two primary enhancements disaggregate existing income tax disclosures related to the effective tax rate reconciliation and income taxes paid. This ASU is effective for annual periods beginning after December 15, 2024, and early adoption is permitted. We will adopt the new disclosures prospectively beginning with the annual reporting for the year ended December 31, 2025.

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2023
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Summary of Significant Accounting Policies Principles of Consolidation The consolidated financial statements include the accounts of QIAGEN N.V. and its wholly-owned subsidiaries. All significant intercompany accounts and transactions have been eliminated. Investments in either common stock or in- substance common stock of companies where we exercise significant influence over the operations but do not have control, and where we are not the primary beneficiary, are accounted for using the equity method. All other investments are accounted for as discussed under " Non-Marketable Investments" below. When there is a portion of equity in an acquired subsidiary not attributable, directly or indirectly, to the Company, we record the fair value of the noncontrolling interests at the acquisition date and classify the amounts attributable to noncontrolling interests separately in equity in the consolidated financial statements. Any subsequent changes in the Company's ownership interest while the Company retains its controlling financial interest in its subsidiary are accounted for as equity transactions. Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities and disclosure of contingencies at the date of the financial statements as well as the reported amounts of revenues and expenses during the reporting period. While changing conditions in our global environment present additional uncertainty, we continue to use the best information available to form our estimates. Actual results could differ from those estimates. Concentrations of Risk We buy materials for products from many suppliers and are not dependent on any one supplier or group of suppliers for the business as a whole. However, key components of certain products, including certain instrumentation components and chemicals, are available only from a single source. If supplies from these vendors were delayed or interrupted for any reason, we may not be able to obtain these materials timely or in sufficient quantities in order to produce certain products and sales levels could be negatively affected. Additionally, our customers include researchers at pharmaceutical and biotechnology companies, academic institutions, and government and private laboratories. Fluctuations in the research and development budgets of these researchers and their organizations for applications in which our products are used could have a significant effect on the demand for our products. The financial instruments used in managing our foreign currency, equity and interest rate exposures have an element of risk in that the counterparties may be unable to meet the terms of the agreements. We attempt to minimize this risk by limiting the counterparties to a diverse group of highly rated international financial institutions. The carrying values of our financial instruments incorporate the non-performance risk by using market pricing for credit risk. However, we have no reason to believe that any counterparties will default on their obligations. In order to minimize our exposure with any single counterparty, we have entered into master agreements which allow us to manage the exposure with the respective counterparty on a net basis. Other financial instruments that potentially subject us to concentrations of credit risk are cash and cash equivalents, short- term investments, and accounts receivable. We attempt to minimize the risks related to cash and cash equivalents and short-term investments by dealing with highly rated financial institutions and investing in a broad and diverse range of financial instruments. We have established guidelines related to credit quality and maturities of investments intended to maintain safety and liquidity. Concentration of credit risk with respect to accounts receivable is limited due to a large and diverse customer base which is dispersed over different geographic areas. Allowances are maintained for potential credit losses and such losses have historically been within expected ranges. Foreign Currency Translation Our reporting currency is the U.S. dollar and the functional currencies of our subsidiaries are generally the local currency of the respective countries in which they are headquartered. All amounts in the financial statements of entities whose functional currency is not the U.S. dollar, except for Türkiye (which became hyperinflationary and reports in U.S. dollars), are translated into U.S. dollar equivalents at exchange rates as follows: (1) assets and liabilities at period-end rates, (2) income statement accounts at average exchange rates for the period, and (3) components of equity at historical rates. Translation gains or losses are recorded in equity, and transaction gains and losses are reflected in net income as a component of other (expense) income, net . Realized gains or losses on the value of derivative contracts entered into to hedge the exchange rate exposure of receivables and payables are also included in net income as a component of other (expense) income, net . The net gain or loss on foreign currency transactions was a net loss of $5.8 million in 2023 , a net gain of $2.7 million in 2022 , and a net loss of $9.0 million in 2021 and is included in other (expense) income, net . The exchange rates of key currencies were as follows: (USD equivalent for one) Closing rate at December 31, Annual average rate 2023 2022 2023 2022 2021 Euro (EUR) 1.1050 1.0666 1.0814 1.0542 1.1832 Pound Sterling (GBP) 1.2715 1.2026 1.2435 1.2376 1.3758 Swiss Franc (CHF) 1.1933 1.0832 1.1133 1.0486 1.0940 Japanese Yen (JPY) 0.0071 0.0076 0.0071 0.0077 0.0091 Chinese Yuan (CNY) 0.1408 0.1450 0.1413 0.1489 0.1550 Segment Information We determined that we operate as one operating segment in accordance with the Financial Accounting Standards Board (FASB) Accounting Standards Codification (ASC) Topic 280, Segment Reporting. Our chief operating decision maker (CODM) makes decisions based on the Company as a whole. In addition, we have a common basis of organization and types of products and services which derive revenues and consistent product margins. Accordingly, we operate and make decisions as one reporting unit. Revenue Recognition We recognize revenue when control of promised goods or services transfers to our customers in an amount that reflects the consideration that is expected to be received in exchange for those goods or services. The majority of our sales revenue is recognized when products are shipped to the customers, at which point control transfers. Warranty We provide warranties on our products against defects in materials and workmanship for a period of one year . A provision for estimated future warranty costs is recorded in cost of sales at the time product revenue is recognized. Product warranty obligations are included in accrued and other current liabilities in the accompanying consolidated balance sheets. Research and Development Research and product development costs are expensed as incurred. Research and development expenses consist primarily of salaries and related expenses, facility costs, and amounts paid to contract research organizations and laboratories for the provision of services and materials as well as costs for internal use or clinical trials. Government Grants We recognize government grants when there is reasonable assurance that all conditions will be complied with and the grant will be received. Our government grants generally represent subsidies for specified activities and are therefore recognized when earned as a reduction of the expenses recorded for the activity that the grants are intended to compensate. Thus, when the grant relates to research and development expense, the grant is recognized over the same period that the related costs are incurred. Otherwise, amounts received under government grants are recorded as liabilities in the balance sheet. When the grant relates to an asset, the nominal amount of the grant is deducted from the carrying amount of the asset and recognized over the same period that the related asset is depreciated. Borrowing Costs Borrowing costs directly attributable to the acquisition, construction or production of an asset that takes a substantial period of time to prepare for its intended use or sale are capitalized as part of the cost of the respective assets (qualifying asset) when such borrowing costs are significant. All other borrowing costs are expensed in the period they occur. Shipping and Handling Income and Costs Shipping and handling costs charged to customers are recorded as revenue in the period that the related product sales revenue is recorded. Associated costs of shipping and handling are included in sales and marketing expenses. For the years ended December 31, 2023 , 2022 and 2021 , shipping and handling costs totaled $32.4 million , $34.4 million and $31.7 million , respectively. Advertising Costs The costs of advertising are expensed as incurred and are included as a component of sales and marketing expense. Advertising costs for the years ended December 31, 2023 , 2022 and 2021 were $11.5 million , $15.8 million and $13.5 million , respectively. General and Administrative General and administrative expenses primarily represent the costs required to support administrative infrastructure. These costs include licensing costs in connection with continued investments in information technology improvements, including cyber security, across the organization as well as personnel in administrative functions. Restructuring, Acquisition, Integration and Other We i ncur indirect acquisition and business integration costs in connection with business combinations which are expensed when incurred. These costs represent incremental costs that we believe would not have been incurred absent the business combinations. Major components of these costs include consulting and related fees incurred to integrate or restructure the acquired operations, payroll and related costs for employees remaining with the Company on a transitional basis and public relations, advertising and media costs for re-branding of the combined organization. Restructuring costs include personnel costs (principally termination benefits) as well as contract and other costs, primarily contract termination costs. Termination benefits are accounted for in accordance with FASB ASC Topic 712, Compensation - Nonretirement Postemployment Benefits, and are recorded when it is probable that employees will be entitled to benefits and the amounts can be reasonably estimated. Estimates of termination benefits are based on the frequency of past termination benefits, the similarity of benefits under the current plan and prior plans, and the existence of statutory required minimum benefits. Contract and other costs are accounted for in accordance with FASB ASC Topic 420, Exit or Disposal Cost Obligations and are recorded when the liability is incurred. Additionally, expenses incurred may also include costs that are an integral component of, and are directly attributable to, restructuring activities which do not qualify as exit and disposal costs, such as intangible asset impairments and other asset related write-offs. The specific restructuring measures and associated estimated costs are based on management's best business judgment under the existing circumstances at the time the estimates are made. If future events require changes to these estimates, such adjustments will be reflected in the period of the revised estimate. Income Taxes We account for income taxes under the liability method. Under this method, total income tax expense is the amount of income taxes expected to be payable for the current year plus the change from the beginning of the year for deferred tax assets and liabilities established for the expected future tax consequences resulting from differences between the financial statement carrying amount and the tax basis of assets and liabilities. Deferred tax assets and/or liabilities are determined by multiplying the differences between the financial statement carrying amount and the tax bases of assets and liabilities by the enacted tax rates expected to be in effect when such differences are reversed or settled. Deferred tax assets are reduced by a valuation allowance to the amount more likely than not to be realized. The effect on deferred taxes of a change in tax rates is recognized in income in the period that includes the enactment date. The financial statement effects of a tax position are initially recognized in the financial statements when it is more likely than not that the position will be sustained upon examination by the taxing authorities. Such tax positions are initially and subsequently measured as the largest amount of tax benefit that is greater than 50 percent likely of being realized upon settlement with the taxing authority using the cumulative probability method, assuming the taxing authority has full knowledge of the position and all relevant facts. Our policy is to recognize interest accrued related to income taxes in interest expense and penalties related to income taxes within the income tax expense. Derivative Instruments We enter into derivative financial instrument contracts to minimize the variability of cash flows or income statement impact associated with the anticipated transactions being hedged or to hedge fluctuating interest rates. As changes in foreign currencies or interest rates impact the value of anticipated transactions, the fair value of the forward or swap contracts also changes, offsetting foreign currency or interest rate fluctuations. Derivative instruments are recorded on the balance sheet at fair value. Changes in fair values of derivatives are recorded in current earnings or other comprehensive income (loss), depending on whether a derivative is designated as part of a hedge transaction. Share-Based Payments Compensation costs for all share-based payments are recorded based on the grant date fair value, less an estimate for pre- vesting forfeitures, recognized in expense over the service period using an accelerated method. Forfeiture Rate - This is the estimated percentage of grants that are expected to be forfeited or canceled on an annual basis before becoming fully vested. We estimated the forfeiture rate based on historical forfeiture experience. Restricted Stock Units and Performance Stock Units - Restricted stock units and performance stock units represent rights to receive Common Shares at a future date. The fair market value of restricted and performance stock units is determined based on the number of stock units granted and the fair market value of our shares on the grant date. The fair market value at the time of the grant, less an estimate for pre-vesting forfeitures, is recognized in expense over the vesting period. At each reporting period, the estimated performance achievement of the performance stock units is assessed and any change in the estimated achievement is recorded on a cumulative basis in the period of adjustment. Cash and Cash Equivalents Cash and cash equivalents consist of cash on deposit in banks and other cash invested temporarily in various instruments that are short-term and highly liquid with an original maturity of less than three months at the date of purchase. Cash equivalents are carried at amortized cost which approximates fair value. Cash and cash equivalents as of December 31, 2023 and 2022 were as follows: (in thousands) 2023 2022 Cash at bank and on hand $87,380 $122,314 Money market funds 481,360 289,394 Commercial paper 9,982 94,828 Short-term bank deposits 89,362 224,133 Cash and cash equivalents $668,084 $730,669 Short-Term Investments Short-term investments include cash investments with original maturities of more than three months which are classified as “available for sale” and stated at fair value, which is equivalent to the amortized cost, in the accompanying consolidated balance sheet. Interest income is accrued when earned and changes in fair market values are reflected in other (expense) income, net . The amortization of premiums and accretion of discounts to maturity arising from acquisition are included in interest income. A decline in fair value that is judged to be other-than-temporary is accounted for as a realized loss and the write-down is included in the consolidated statements of income. Realized gains and losses, determined on a specific identification basis on the sale of short-term investments, are included in other (expense) income, net . Short-term investments consisting of marketable equity securities are reported at fair value with gains and losses recorded in earnings. Fair Value of Financial Instruments The carrying amount of cash and cash equivalents, notes receivable, accounts receivable, accounts payable and accrued liabilities approximate their fair values because of the short maturities of those instruments. The carrying value of our variable rate debt and leases approximates their fair values because of the short maturities and/or interest rates which are comparable to those available to us on similar terms. The fair values of the zero coupon convertible debt and the Cash Convertible Notes are based on an estimation using available over-the-counter market information. The fair values of the German Private Placement are based on an estimation using changes in the euro swap rates. Accounts Receivable, Loans and Other Receivables and Allowance for Credit Losses Our accounts receivable consist of unsecured customer obligations and we are at risk to the extent such amounts become uncollectible. We maintain allowances for credit losses resulting from the expected failure or inability of our customers to make required payments. We recognize the allowance for expected credit losses at inception and reassess regularly considering historical experience with bad debts, the aging of the receivables, credit quality of the customer base, current economic conditions and other reasonable and supportable expectations for future conditions, if applicable. Once a receivable is determined to be uncollectible, the balance is charged against the allowance. We sell our products worldwide through sales subsidiaries and distributors. There is no concentration of credit risk with respect to trade accounts receivable as we have a large number of internationally dispersed customers. Trade accounts receivable are non-interest bearing and mostly have payment terms of 30-90 days. For all years presented, no single customer represented more than ten percent of accounts receivable or consolidated net sales. The changes in the allowance for credit losses on accounts receivable and loans and other receivables for the years ended December 31, 2023 , 2022 and 2021 are as follows: (in thousands) Accounts receivable Loans and other receivables 2023 2022 2021 2023 2022 2021 Balance at beginning of year $22,880 $23,124 $27,052 $10,598 $5,142 $9,132 Provisions for expected credit losses (2,873) 4,483 18 5 5,574 2,155 Deductions from allowance (2,378) (2,685) (1,249) (10,552) — (6,049) Recoveries collected — — 288 — — 12 Currency translation adjustments and other (333) (2,042) (2,985) 2 (118) (108) Balance at end of year $17,296 $22,880 $23,124 $53 $10,598 $5,142 In 2023 , a $10.6 million loa n receivab le from a related party was written off against the reserve as described in Note 24 "Related Party Transactions." Inventories Inventories are stated at the lower of cost or net realizable value, determined on either a weighted average cost basis or a standard cost basis which is regularly adjusted to actual. Inventories include material, direct labor and overhead costs and are reduced for estimated obsolescence. Inventories consisted of the following as of December 31, 2023 and 2022 : (in thousands) 2023 2022 Raw materials $91,204 $97,613 Work in process 94,736 85,488 Finished goods 212,445 174,859 Total inventories, net $398,385 $357,960 Property, Plant and Equipment Property, plant and equipment are stated at cost less accumulated amortization. Capitalized internal-use software costs include only those direct costs associated with the actual development or acquisition of computer software solely to meet internal needs and cloud-based applications to deliver our service and comprise costs associated with the design, coding, installation and testing of the system. Costs associated with preliminary development, such as the evaluation and selection of alternatives, as well as training, maintenance and support are expensed as incurred. Costs for software to be sold, leased or otherwise marketed that are related to the conceptual formulation and design are expensed as incurred. Costs incurred to produce software products and the software components of products to be sold, leased or marketed after technological feasibility is established are capitalized and amortized in accordance with the accounting standards for the costs of software to be sold, leased, or otherwise marketed. Depreciation is computed using the straight-line method over the estimated useful lives of the a sset s . Amortization of leasehold improvements is computed on a straight-line basis over the lesser of the remaining life of the lease or the estimated useful life of the improvement asset. We have a policy of capitalizing expenditures that materially increase assets’ useful lives and charging ordinary maintenance and repairs to operations as incurred. When property or equipment is disposed of, the cost and related accumulated depreciation and amortization are removed from the accounts and any gain or loss is included in earnings. Leases At inception of a contract, the Company assesses whether a contract is, or contains, a lease. A contract is, or contains, a lease if the contract conveys the right to control the use of an identified asset for a period of time in exchange for consideration. Company as a lessee Leases are recognized as a right-of-use asset and a corresponding liability at the date at which the leased asset is available for use or at the lease commencement date . Leases are classified as finance or operating based on the criteria according to ASC 842 Leases, with classification affecting the pattern of expense recognition and amortization of the right- of-use asset in the income statement. Assets and liabilities arising from a lease are initially measured on a present value basis. Lease liabilities include the net present value of the following lease payments: • fixed payments, including in-substance fixed payments, less any lease incentives received; • variable lease payments that are based on an index or a rate; • amounts expected to be payable to the lessee under residual value guarantees; • the exercise price of a purchase option if the lessee is reasonably certain to exercise that option; and • payments of penalties for terminating the lease, if the lease term reflects the lessee exercising that option. The lease payments are discounted using the interest rate implicit in the lease. If that rate cannot be determined, the lessee's incremental borrowing rate at the lease commencement date is used, which is based on an assessment of interest rates the company would have to pay to borrow funds, including the consideration of factors such as the nature of the asset and location, collateral, market terms and conditions, as applicable. After the commencement date, the amount of lease liabilities is increased to reflect the accretion of interest and reduced by the lease payments made. Each lease payment is allocated between the liability and finance charges. The interest element of the finance cost is recognized in the income statement over the lease period so as to produce a constant periodic rate of interest on the remaining balance of the liability for each period. In addition, the carrying amount of lease liabilities is remeasured if there is a modification, a change in the lease term, a change in the in-substance fixed lease payments or a change in the assessment to purchase the underlying asset. Right-of-use assets are measured at cost comprising the following: • the amount of the initial measurement of the lease liability; • any lease payments made at or before the commencement date less any lease incentives received; • any initial direct costs; and • restoration costs. The company determines the lease term as the non-cancellable term of the lease, together with any periods covered by an option to extend the lease if it is reasonably certain to be exercised, or any periods covered by an option to terminate the lease, if it is reasonably certain not to be exercised. The company applies judgment in evaluating whether it is reasonably certain to exercise the option to renew. That is, it considers all relevant factors that create an economic incentive for it to exercise the renewal. The company leases various items of real estate, vehicles and other equipment. Rental contracts are typically made for fixed periods but may have extension or termination options. Company as a lessor When the company acts as a lessor, it determines at lease inception whether a lease is a finance lease or an operating lease. Leases in which the company does not transfer substantially all the risks and rewards incidental to ownership of an asset are classified as operating leases. The company recognizes lease payments received under operating leases as income on a straight-line basis over the lease terms in the Income Statement. Business Combinations We include the results of operations of the businesses that we acquire as of the acquisition date. The purchase price of an acquired business is allocated to the individual assets acquired and liabilities assumed based on their fair values at the date of acquisition. Those fair values are determined using income, cost and market approaches, most of which depend upon significant inputs that are not observable in the market, or Level 3 measurements. The excess of purchase price over the fair value of identifiable assets acquired and liabilities assumed is recorded as goodwill. Acquisition-related expenses are expensed as incurred. The purchase price for some business combinations includes consideration that is contingent on the achievement of net sales or earnings targets by the acquired business. Contingent consideration is measured initially and on a recurring basis at fair value. Payments to settle the acquisition date fair value of contingent consideration are presented as financing activities on the statement of cash flows; any payments in excess of the acquisition date fair value are presented as operating activities. Acquired Intangibles and Goodwill Acquired intangibles with future uses are carried at cost less accumulated amortization and consist of licenses to technology held by third parties and other acquired intangible assets. Amortization related to patents are computed over the estimated useful life of the underlying patent, which has historically ranged from 1 to 20 years. Purchased intangible assets acquired in business combinations, other than goodwill, are amortized over their estimated useful lives unless these lives are determined to be indefinite. Intangibles are assessed for recoverability considering the contract life and the period of time over which the intangible will contribute to future cash flow. The unamortized cost of intangible assets, where cash flows are independent and identifiable from other assets, is evaluated periodically and adjusted, if necessary, if events and circumstances indicate that a decline in value below the carrying amount has occurred. Amortization expense related to developed technology and patent and license rights which have been acquired in a business combination is included in cost of sales. Amortization of trademarks, customer base and non-compete agreements which have been acquired in a business combination is recorded in operating expense under acquisition-related intangible amortization. Amortization expenses of intangible assets not acquired in a business combination are recorded within either the cost of sales, research and development or sales and marketing line items based on the use of the asset. We dispose the gross carrying amount and accumulated amortization of fully amortized intangible assets from historic business combinations once they are considered fully integrated into our business. The fair value of in-process research and development (IPR&D) acquired in a business combination is capitalized as an indefinite-lived intangible asset until completion or abandonment of the related research and development activities. IPR&D is tested for impairment annually or when any event or circumstance indicates that the fair value may be below the carrying value. If and when research and development is complete, the associated asset is amortized over the estimated useful life. Goodwill represents the difference between the purchase price and the estimated fair value of the net assets acquired arising from business combinations. Goodwill is subject to impairment tests annually or earlier if indicators of potential impairment exist. We have elected to perform our annual test for indications of impairment as of October 1st of each year. Following the annual impairment tests for the years ended December 31, 2023 , 2022 and 2021 , goodwill has not been impaired. Non-Marketable Investments We have investments in non-marketable equity securities issued by privately held companies. These investments are included in other long-term assets in the accompanying consolidated balance sheets. Non-marketable investments through which we exercise significant influence but do not have control are accounted for using the equity method, which requires that we recorded our share of unrealized gains and losses on our equity method investments in other (expense) income, net. We monitor for changes in circumstances that may require a reassessment of the level of influence. Our non- marketable equity securities not accounted for under the equity method are accounted for under the measurement alternative. Under the measurement alternative, the carrying value is measured at cost, less any impairment, plus or minus changes resulting from observable price changes in orderly transactions for identical or similar investments of the same issuer. Adjustments are determined primarily based on a market approach as of the transaction date. Investments are evaluated periodically, or when impairment indicators are noted, to determine if declines in value are other-than-temporary. In making that determination, we consider all available evidence relating to the realizable value of a security. This evidence includes, but is not limited to, the following: • adverse financial conditions of a specific issuer, segment, industry, region or other variables; • the length of time and the extent to which the fair value has been less than cost; and • the financial condition and near-term prospects of the issuer. We consider whether the fair values of any of our non-marketable investments have declined below their carrying value whenever adverse events or changes in circumstances indicate that recorded values may not be recoverable. If any such decline is considered to be other-than-temporary (based on various factors, including historical financial results, product development activities and the overall health of the affiliate’s industry), then a write-down of the investment would be recorded in operating expense to its estimated fair value. Investment impairments recorded during the year ended December 31, 2023 are discussed in Note 10 "Investments." Variable Interest Entities We evaluate at the inception of each arrangement whether we have made an investment in an entity that is considered a variable interest entity (VIE) or if we hold other variable interests in an arrangement that is considered a variable interest entity. We consolidate VIEs when we are the primary beneficiary. The primary beneficiary of a VIE is the party that meets both of the following criteria: (1) has the power to make decisions that most significantly affect the economic performance of the VIE; and (2) has the obligation to absorb losses or the right to receive benefits that in either case could potentially be significant to the VIE. Periodically, we assess whether any changes in our interest or relationship with the entity affect our determination of whether the entity is still

Revenue

Revenue	12 Months Ended
	Dec. 31, 2023
Revenue from Contract with Customer [Abstract]
Revenue	Revenue Nature of Goods and Services Our revenues are reported net of sales and value added taxes and accruals for estimated rebates and returns and are derived primarily from the sale of consumable and instrumentation products, and to a much lesser extent, from the sale of services, intellectual property and technology. Revenue is recognized upon transfer of control of promised products or services to customers in an amount that reflects the consideration we expect to receive in exchange for those products or services. From time to time, we enter into contracts that can include various combinations of products and services, which are generally distinct and accounted for as separate performance obligations. The transaction price is allocated to performance obligations based on their relative stand-alone selling prices. We offer warranties on our products. Certain of our warranties are assurance-type in nature and do not cover anything beyond ensuring that the product is functioning as intended. Based on the guidance in FASB ASC Topic 606, assurance- type warranties do not represent separate performance obligations. The Company also sells separately-priced service contracts which qualify as service-type warranties and represent separate performance obligations. We sell our products and services both directly to customers and through distributors generally under agreements with payment terms typically less than 90 days and, in most cases, not exceeding one year and therefore contracts do not contain a significant financing component. Consumable and Related Revenue Consumable Products: In the last three years, revenue from consumable product sales has accounted for between 78 - 81% of our net sales and revenue is recognized when performance obligations under the terms of a contract with a customer are satisfied. The majority of our contracts have either a single performance obligation to transfer a single consumable product or multiple performance obligations to transfer multiple products concurrently. Accordingly, we recognize revenue when control of the products has transferred to the customer, which is generally at the time of shipment of products as this is when title and risk of loss have been transferred. In addition, invoicing typically occurs at this time so this is when we have a present right to payment. Revenue is measured as the amount of consideration we expect to receive in exchange for transferring products and is generally based upon a negotiated formula, list or fixed price. Related Revenue: Revenues from related products include software-as-a-service (SaaS), licenses, intellectual property and patent sales, royalties and milestone payments and over the last three years has accounted for between 7 - 10% of our net sales. SaaS arrangements: Revenue from SaaS arrangements, which allow customers to use hosted software over the contract period without taking possession of the software, is recognized over the duration of the agreement unless the terms of the agreement indicate that revenue should be recognized in a different pattern, for example, based on usage. Licenses: Licenses for on-site software, which allow customers to use the software as it exists when made available, are sold as perpetual licenses or term licenses. Revenue from on-site licenses is recognized at the later of when the software is made available to the customer or the beginning of the license term. When a portion of the transaction price is allocated to a performance obligation to provide support and/or updates, revenue is recognized as the updates/support are provided, generally over the life of the license. Fees from research collaborations include payments for technology transfer and access rights. Royalties from licensees of intellectual property are based on sales of licensed products and revenues are recognized at the later of (i) when the related sales occur, or (ii) when the performance obligation to which some or all of the royalty has been allocated has been satisfied (or partially satisfied). Milestone Payments: At the inception of each companion diagnostic co-development arrangement that includes development milestone payments, which represent variable consideration, we evaluate whether the milestones are probable of being reached and estimate the amount to be included in the transaction price using the most likely amount method. If it is probable that a significant revenue reversal would not occur, the associated milestone value is included in the transaction price. Milestone payments that are not within our control, such as milestones which are achieved through regulatory approvals, are considered to be constrained and excluded from the transaction price until the required approvals are received. Revenue is recognized following the input method as this is considered to best depict the timing of the transfer of control. This involves measuring actual hours incurred to date as a proportion of the total budgeted hours of the project. At the end of each subsequent reporting period, the proportion of completion is trued-up. We also re-evaluate the probability of achievement of development milestones and any related constraint on a periodic basis and, if necessary, adjust our estimate of the overall transaction price. Any such adjustments are recorded on a cumulative catch-up basis, which would affect revenues and earnings in the period of adjustment. Instruments Revenue from instrumentation includes the instrumentation equipment, installation, training and other instrumentation services, such as extended warranty services or product maintenance contracts, and over the last three years has accounted for 12% of net sales. Revenue from instrumentation equipment is recognized when the customer obtains control of the instrument which is predominantly at the time of delivery or upon customer acceptance, where applicable. Service revenue is recognized over the term of the service period as the customers benefit from the service throughout the service period. Revenue related to services performed on a time-and-materials basis is recognized when performed. Contract Estimates The majority of our revenue is derived from contracts (i) with an original expected length of one year or less and (ii) contracts for which we recognize revenue at the amount in which we have the right to invoice as product is delivered. We have elected the practical expedient not to disclose the value of remaining performance obligations associated with these types of contracts. However, we have certain companion diagnostic co-development contracts to provide research and development activities in which our performance obligations extend over multiple years. As of December 31, 2023 , remaining performance obligations totaled $55.5 million for which the transaction price is not constrained related to these contracts which we expect to recognize over the next 12 to 18 months . Revenue expected to be recognized in any future year related to remaining performance obligations, excluding revenue pertaining to contracts that have an original expected duration of one year or less, contracts where revenue is recognized as invoiced and contracts with variable consideration related to undelivered performance obligations, is not material. Contract Balances The timing of revenue recognition, billings and cash collections can result in billed accounts receivable, unbilled receivables (contract assets), and customer advances and deposits (contract liabilities) in the consolidated balance sheet. Contract assets as of December 31, 2023 and 2022 totaled $15.0 million and $9.8 million , respectively, and are included in prepaid expenses and other current assets in the accompanying consolidated balance sheets and relate to the companion diagnostic co-development contracts discussed above. Contract liabilities primarily relate to non-cancellable advances or deposits received from customers before revenue is recognized and are primarily related to instrument service and software-as-a-service (SaaS) arrangements. As of December 31, 2023 and 2022 , contract liabilities totaled $82.1 million and $84.2 million , respectively, of which $66.4 million and $69.0 million is included in accrued and other current liabilities , respectively, and $15.7 million and $15.2 million in included in other long-term liabilities , respectively. During the years ended December 31, 2023 and 2022 , we satisfied the associated performance obligations and recognized revenue of $66.8 million and $57.6 million , respectively, related to advance customer payments previously received. Disaggregation of Revenue We disaggregate our revenue based on product type and customer class as shown below for the years ended December 31, 2023 , 2022 and 2021 : (in thousands) 2023 2022 2021 Consumables and related revenues $951,366 $1,029,791 $1,027,215 Instruments 84,111 96,436 116,449 Molecular Diagnostics 1,035,477 1,126,227 1,143,664 Consumables and related revenues 774,847 859,133 959,093 Instruments 154,987 156,158 148,900 Life Sciences 929,834 1,015,291 1,107,993 Total net sales $1,965,311 $2,141,518 $2,251,657 Additionally, we disaggregate our revenue based on the product categories as shown below for the years ended December 31, 2023 , 2022 and 2021 : (in thousands) 2023 2022 2021 Sample technologies $662,991 $796,932 $850,636 Diagnostic solutions 697,630 660,879 638,759 PCR / Nucleic acid amplification 300,204 390,804 433,972 Genomics / NGS 238,910 224,797 245,066 Other 65,576 68,106 83,224 Total net sales $1,965,311 $2,141,518 $2,251,657 Refer to Note 21 "Segment Information" for disclosure of revenue by geographic region.

Acquisitions

Acquisitions	12 Months Ended
	Dec. 31, 2023
Business Combination and Asset Acquisition [Abstract]
Acquisitions	Acquisitions We undertake acquisitions to complement our own internal product development activities. Our acquisitions have historically been made at prices above the fair value of the acquired net assets, resulting in goodwill, due to expectations of synergies of combining the businesses. These synergies include use of our existing infrastructure, such as sales force, business service centers, distribution channels and customer relations, to expand sales of an acquired business' products; use of the infrastructure of the acquired businesses to cost-effectively expand sales of our products; and elimination of duplicative facilities, functions and staffing. 2023 Business Combination On January 3, 2023, we acquired 100% of the shares of Verogen, Inc., a leader in the use of next-generation sequencing (NGS) technologies to drive the future of human identification (HID) and forensic investigation. Verogen, a privately held company founded in 2017 and based in San Diego, California, supports the global human identification community with NGS tools and professional services to help resolve criminal and missing-persons cases. The cash consideration, net of cash acquired was $149.5 million . The acquisition is not significant to the overall consolidated financial statements and as of September 30, 2023, the allocation of the purchase price was final. At the acquisition date, all the assets acquired and liabilities assumed were recorded at their respective fair values and our consolidated results of operations include the operating results from the acquired company from the acquisition date. The acquisition did not have a material impact to net sales, net income or earnings per common share and therefore no pro forma information has been provided herein. 2022 Business Combination On May 11, 2022, we acquired BLIRT S.A., a supplier of standardized and customized solutions for proteins and enzymes as well as molecular biology reagents located in Gdańsk, Poland. Its offering includes proteins and enzymes that are critical to the life sciences industry and diagnostic kit manufacturers. The cash consideration, net of cash acquired was $63.7 million . The acquisition was not significant to the overall consolidated financial statements. At the acquisition date, all the assets acquired and liabilities assumed were recorded at their respective fair values and our consolidated results of operations include the operating results from the acquired company from the acquisition date. The acquisition did not have a material impact to net sales, net income or earnings per share and therefore no pro forma information has been provided herei n.

Restructuring

Restructuring	12 Months Ended
	Dec. 31, 2023
Restructuring and Related Activities [Abstract]
Restructuring	Restructuring During the fourth quarter of 2022, we initiated a restructuring plan to discontinue our third-party instrument service business and realign certain management positions and personnel in order to improve the overall management structure. The below table shows the pre-tax restructuring charges recorded in 2023 and 2022 in the accompanying consolidated statements of income . (in thousands) 2023 2022 Cost of sales $— $391 Restructuring, acquisition, integration and other, net 6,948 4,612 Total restructuring charges $6,948 $5,003 Cost of sales charges in 2022 were for inventory write-downs. A summary of the restructuring liability, which is recorded in accrued and other current liabilities in the accompanying consolidated balance sheets, as of December 31, 2023 and 2022 is as follows: (in thousands) Personnel related Contract and other costs Total Liability at December 31, 2021 $— $— $— Cost incurred in 2022 4,121 491 4,612 Foreign currency translation adjustment 24 3 27 Liability at December 31, 2022 $4,145 $494 $4,639 Costs incurred in 2023 7,457 160 7,617 Release of accruals (662) (7) (669) Payments (3,667) (500) (4,167) Foreign currency translation adjustment 137 — 137 Liability at December 31, 2023 $7,410 $147 $7,557 No further charges related to this program are expected to be incurred in 2024.

Short-Term Investments

Short-Term Investments	12 Months Ended
	Dec. 31, 2023
Schedule of Investments [Abstract]
Short-Term Investments	Short-Term Investments As of December 31, 2023 and 2022 , short-term investments were as follows: (in thousands) 2023 2022 Commercial paper $81,023 $672,597 Money market deposits 308,675 15,000 Total short-term investments $389,698 $687,597 Short-term investments are highly liquid deposits and fixed-income securities denominated in U.S. dollars. At December 31, 2023 and 2022 , we had $389.7 million and $687.6 million , respectively, of commercial paper and money market deposits due from financial and nonfinancial institutions. Investments in commercial paper, a marketable debt security, are classified as available for sale investments and are carried at amortized cost, which approximates fair market value. Interest income is calculated and accrued using the effective interest method. Money market deposits are interest-bearing deposit accounts, valued at cost with interest income accrued as earned. All instruments are classified as current assets in the accompanying balance sheet as they have an original maturity of less than one year. Interest income is determined using the effective interest rate method.

Prepaid Expenses and Other Curr

Prepaid Expenses and Other Current Assets	12 Months Ended
	Dec. 31, 2023
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Prepaid Expenses and Other Current Assets	Prepaid Expenses and Other Current Assets Prepaid expenses and other current assets are summarized as follows as of December 31, 2023 and 2022 : (in thousands) Notes 2023 2022 Cash collateral (14) $87,666 $21,083 Income taxes receivable (17) 60,639 53,394 Prepaid expenses 44,854 50,958 Fair value of derivative instruments (14) 43,230 111,617 Other receivables 38,177 19,026 Value added tax 19,911 28,130 Contract assets (4) 15,039 9,768 Total prepaid expenses and other current assets $309,516 $293,976

Property, Plant and Equipment

Property, Plant and Equipment	12 Months Ended
	Dec. 31, 2023
Property, Plant and Equipment [Abstract]
Property, Plant and Equipment	Property, Plant and Equipment Property, plant and equipment as of December 31, 2023 and 2022 were as follows: (in thousands) Estimated useful lives (in years) 2023 2022 Land $26,239 $25,480 Buildings and improvements up to 60 382,836 362,794 Machinery and equipment 3 - 10 309,930 294,156 Computer software 3 - 20 267,572 262,007 Furniture and office equipment 3 - 10 91,247 90,293 Construction in progress 203,978 130,407 Total property, plant and equipment 1,281,802 1,165,137 Less: Accumulated depreciation and amortization (516,765) (502,967) Total property, plant and equipment, net $765,037 $662,170 For the year ended December 31, 2023 , construction in progress primarily includes amounts related to projects to expand production lines and increase capacity of manufacturing as well as ongoing software development projects. For the year ended December 31, 2023 , interest capitalized in connection with these projects totaled $1.2 million . No significa nt interest was capitalized for the years ended December 31, 2022 and 2021 . For the years ended December 31, 2023 , 2022 and 2021 , depreciation and amortization expense totaled $85.6 million , $89.5 million and $85.4 million , respectively. For the years ended December 31, 2023 , 2022 and 2021 , amortization related to computer software to be sold, leased or marketed totaled $11.7 million , $10.8 million and $9.2 million , respectively. As of December 31, 2023 and 2022 , the unamortized balance of computer software to be sold, leased or marketed was $97.9 million and $69.2 million , respectively. Repairs and maintenance expense was $19.3 million , $16.8 million and $16.2 million in 2023 , 2022 and 2021 , respectively.

Investments

Investments	12 Months Ended
	Dec. 31, 2023
Investments, Debt and Equity Securities [Abstract]
Investments	Investments Non-Marketable Investments We have made strategic investments in certain privately-held companies without readily determinable market values. Non-Marketable Investments Accounted for Under the Equity Method A summary of our non-marketable investments accounted for as equity method investments is as follows: (in thousands) Ownership percentage Equity investments as of December 31, Share of income (loss) for the years ended December 31, 2023 2022 2023 2022 2021 PreAnalytiX GmbH 50.00 % $3,422 $6,856 $4,977 $4,377 $10,412 Apis Assay Technologies Ltd 19.90 % 2,408 4,102 (1,694) 389 1,773 TVM Life Science Ventures III 3.10 % 7,198 3,872 947 (901) (264) Suzhou Fuda Business Management and Consulting Partnership 33.67 % 2,581 2,608 49 — — Actome GmbH 12.50 % 586 779 (216) (201) (31) Hombrechtikon Systems Engineering AG 19.00 % (275) (311) 100 94 97 Total $15,920 $17,906 $4,163 $3,758 $11,987 Of the $15.9 million of non-marketable investments accounted for as equity method investments, $16.2 million is included in other long-term assets and $0.3 million , where we are committed to fund losses, is included in other long-term liabilities in the accompanying consolidated balance sheet as of December 31, 2023 . TVM Life Science Ventures III (TVM) is a limited partnership and we account for our 3.1% investment under the equity method as we have the ability to exercise significant influence over the limited partnership. This investment is valued at net asset value (NAV) reported by the counterparty, adjusted as necessary. During the years ended December 31, 2023 , 2022 and 2021 , we made $2.4 million , $1.1 million and $2.4 million , respectively, in additional cash payments to TVM and, as of December 31, 2023 , have $6.8 million of unfunded commitments through 2029 related to this investment. We do not have the right to redeem these funds under the normal course of operations of this partnership. During the years ended December 31, 2023 , 2022 and 2021 , we received dividends of $9.1 million , $7.5 million and $4.7 million , respectively, from PreAnalytix GmbH. These dividends are included in other items, net including fair value changes in derivatives in the accompanying consolidated statement of cash flows as they are a return on investment and therefore classified as cash flows from operating activities. As of December 31, 2023 , four of our equity method investments are variable interest entities and we are not the primary beneficiary as we do not hold the power to direct the activities that most significantly impact the economic performance. Therefore, these investments are not consolidated. As of December 31, 2023 , these investments had a total net carrying value of $9.9 million , of which $10.2 million , representing our maximum exposure to loss, is included in other long-term assets and $0.3 million is included in other long-term liabilities in the accompanying consolidated balance sheet. As of December 31, 2022 , these investments held a balance of $8.4 million , of which $8.7 million is included in other long-term assets and $0.3 million is included in other long-term liabilities in the accompanying consolidated balance sheet. Non-Marketable Investments Not Accounted for Under the Equity Method At December 31, 2023 and 2022 , we had investments in non-publicly traded companies that do not have readily determinable fair values with carrying amounts that totaled $4.4 million and $5.3 million , respectively, which are included in other long-term assets . These investments are measured at cost, less any impairment, plus or minus changes resulting from observable price changes in orderly transactions for the identical or a similar investment of the same issuer. Changes resulting from impairment and observable price changes are recognized in the statements of income during the period the change is identified. The changes in non-marketable investments not accounted for under the equity method for the years ended December 31, 2023 and 2022 are as follows: (in thousands) 2023 2022 Balance at beginning of year $5,329 $3,945 Impairments (4,158) — Cash investments in equity securities, net 491 52 Shares received in exchange for services performed 2,604 1,475 Foreign currency translation adjustments 169 (143) Balance at end of year $4,435 $5,329 During 2023 , we fully impaired an investment following adverse changes in an investee's solvency that indicated that the carrying value was no longer recoverable. The impairment of $4.2 million is recorded in other (expense) income, net in the accompanying consolidated statement of income. Marketable Equity Securities During the year ended December 31, 2021, we sold all previously held investments in marketable equity securities that had readily determinable fair values. These investments were reported at fair value with gains and losses recorded in earnings. The changes in marketable equity securities during the year ended December 31, 2021 are presented below. (in thousands, except shares) Invitae Corporation (Invitae) OncoCyte Corporation (OncoCyte) Oncimmune Holdings plc (Oncimmune) HTG Molecular Diagnostics, Inc (HTGM) Shares Amount Shares Amount Shares Amount Shares Amount Balance at December 31, 2020 2,769,189 $115,780 88,101 $211 560,416 $1,258 55,556 $266 Shares received upon milestone achievement 1,100,190 35,338 30,152 147 86,218 220 — — (Loss) gain on change in fair value — (3,066) — 123 — 61 — 65 Sale of investment (3,869,379) (148,052) (118,253) (481) (646,634) (1,539) (55,556) (331) Balance at December 31, 2021 — $— — $— — $— — $— During 2021, we sold all shares received from Invitae upon milestone achievement and realized a gain of $32.3 million in other (expense) income, net in the accompanying consolidated statement of income.

Goodwill and Intangible Assets

Goodwill and Intangible Assets	12 Months Ended
	Dec. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Intangible Assets	Goodwill and Intangible Assets The following sets forth the intangible assets by major asset class as of December 31, 2023 and 2022 : (in thousands) Weighted average life (in years) 2023 2022 Gross carrying amount Accumulated amortization Gross carrying amount Accumulated amortization Amortized intangible assets: Patent and license rights 10.35 $202,785 ($127,163) $203,549 ($140,632) Developed technology 11.01 798,571 (447,989) 780,233 (407,401) Customer base, trademarks, and non-compete agreements 10.97 212,285 (173,438) 227,171 (179,658) Total amortized intangible assets 10.90 $1,213,641 ($748,590) $1,210,953 ($727,691) Unamortized intangible assets: In-process research and development $61,770 $61,534 Goodwill 2,475,732 2,352,569 Total unamortized intangible assets $2,537,502 $2,414,103 During 2023 and 2022, certain fully amortized intangible assets with a gross carrying amo unt of $87.3 million and $135.3 million , respectively, were retired. I n-process research and development is from the acquisitions of NeuMoDx in 2020 and STAT-Dx in 2018. The estimated fair value of acquired in-process research and development projects which have not reached technological feasibility at the date of acquisition are capitalized and subsequently tested for impairment through completion of the development process, at which point the capitalized amounts are amortized over their estimated useful life. If a project is abandoned rather than completed, all capitalized amounts are written-off immediately. The changes in intangible assets, net excluding goodwill for the years ended December 31, 2023 and 2022 are as follows: (in thousands) 2023 2022 Balance at beginning of year $544,796 $627,436 Additions 11,077 19,632 Additions from acquisitions 58,000 17,247 Amortization (93,755) (93,714) Disposals — (35) Impairments — (12,829) Foreign currency translation adjustments 6,703 (12,941) Balance at end of year $526,821 $544,796 Cash paid for purchases of intangible assets during the year ended December 31, 2023 totaled $13.1 million which includes $10.8 million of cash paid for current year additions and $2.3 million of payments for assets that were accrued as of December 31, 2022 . Intangible additions of $19.6 million in 2022 include $10.9 million of cash paid during the year ended December 31, 2022 together with $7.0 million of additions which were previously recorded as prepayments and $1.7 million of additions that were accrued as of December 31, 2022 . Cash paid for purchases of intangible assets during the year ended December 31, 2022 totaled $20.1 million of which $4.8 million is related to payments in 2022 for assets that were accrued as of December 31, 2021 and $4.4 million are prepayments recorded in other long-term assets in the accompanying consolidated balance sheet as of December 31, 2022 . Amortization expense on intangible assets totaled approximately $93.8 million , $93.7 million and $104.4 million , respectively, for the years ended December 31, 2023 , 2022 and 2021 . During 2022 , we recorded a charge to restructuring, acquisition, integration and other, net in the accompanying statement of income to fully impair a license with a carrying value of $12.8 million . This license was to use technology of Ellume Limited, Australia. In connection with Ellume starting insolvency proceedings in September 2022, we decided to cease all product development and manufacturing activities associated with this license and determined that there was no alternative use nor recoverable value. Accordingly, the license was fully impaired. Amortization of intangibles for the next five years for the years ended December 31 is expected to be approximately: (in thousands) 2024 $91,349 2025 $79,841 2026 $72,334 2027 $66,847 2028 $59,787 The changes in goodwill for the years ended December 31, 2023 and 2022 are as follows: (in thousands) 2023 2022 Balance at beginning of year $2,352,569 $2,350,763 Business combinations 95,136 42,201 Purchase adjustments (4,350) (303) Foreign currency translation adjustments 32,377 (40,092) Balance at end of year $2,475,732 $2,352,569 T he changes in the carrying amount of goodwill during the year ended December 31, 2023 resulted primarily from the acquisition of Verogen, Inc. in January 2023 and foreign currency translation adjustments driven by changes in the euro, Swiss franc and British pound. The changes in goodwill during the year ended December 31, 2022 resulted primarily from the acquisition of BLIRT S.A. in May 2022 and foreign currency translation adjustments.

Leases

Leases	12 Months Ended
	Dec. 31, 2023
Leases [Abstract]
Leases	Leases We have operating leases primarily for real estate. The leases generally have terms which range from one year to 15 years , some include options to extend or renew, and some include options to early terminate the leases. As of December 31, 2023 and 2022 , no such options have been recognized as part of the right-of-use assets and lease liabilities. Operating leases can contain variable lease charges based on an index like consumer prices or rates. During the years ended December 31, 2023 and 2022 , amounts recorded as variable lease payments not included in the operating lease liability were not material. When the interest rate implicit in each lease is not readily determinable, we apply our incremental borrowing rate in determining the present value of lease payments. All operating lease expense is recognized on a straight-line basis over the lease term. For the years ended December 31, 2023 and 2022 , we recognized $28.6 million and $27.0 million in total lease costs, respectively. Supplemental balance sheet and other information related to operating leases as of December 31, 2023 and 2022 are as follows: (in thousands, except lease term and discount rate) Location in consolidated balance sheet 2023 2022 Operating lease right-of-use assets Other long-term assets $105,240 $95,523 Current operating lease liabilities Accrued and other current liabilities $22,268 $22,220 Long-term operating lease liabilities Other long-term liabilities $79,063 $71,406 Weighted average remaining lease term 6.80 years 6.92 years Weighted average discount rate 2.85% 2.08% Supplemental cash flow information related to operating leases for the years ended December 31, 2023 and 2022 is as follows: (in thousands) 2023 2022 Cash paid for operating leases included in cash flows from operating activities $29,300 $26,842 Operating lease right-of-use assets obtained in exchange for lease obligations $30,911 $25,148 Future maturities of operating lease liabilities as of December 31, 2023 are as f ollo ws: Years ending December 31, (in thousands) 2024 $25,123 2025 20,876 2026 15,049 2027 11,531 2028 8,162 Thereafter 29,159 Total lease payments 109,900 Less: Imputed interest (8,569) Total $101,331 As of December 31, 2023 , we do not have any material operating lease that have not yet commenced. We did not hold any material finance leases as of December 31, 2023 and 2022 .

Accrued and Other Current Liabi

Accrued and Other Current Liabilities	12 Months Ended
	Dec. 31, 2023
Accrued Liabilities, Current [Abstract]
Accrued and Other Current Liabilities	Accrued and Other Current Liabilities Accrued and other current liabilities at December 31, 2023 and 2022 consist of the following: (in thousands) Notes 2023 2022 Payroll and related accruals $81,377 $99,885 Accrued expenses 70,007 62,469 Deferred revenue (4) 66,432 69,000 Other liabilities (6) 62,819 59,187 Fair value of derivative instruments (14) 49,774 111,252 Operating lease liabilities (12) 22,268 22,220 Accrued contingent consideration and milestone payments (15) 18,359 8,181 Income taxes payable (17) 12,475 13,980 Accrued royalties (20) 9,699 12,877 Accrued interest on long-term debt (16) 8,518 5,431 Cash collateral (14) 5,440 21,755 Total accrued and other current liabilities $407,168 $486,237

Derivatives and Hedging

Derivatives and Hedging	12 Months Ended
	Dec. 31, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivatives and Hedging	Derivatives and Hedging Obj ect ive and Strategy In the ordinary course of business, we use derivative instruments, including swaps, forwards and/or options, to manage potential losses from foreign currency exposures and interest-bearing assets or liabilities. The principal objective of such derivative instruments is to minimize the risks and/or costs associated with our global financial and operating activities. We do not utilize derivative or other financial instruments for trading or other speculative purposes. We recognize all derivatives as either assets or liabilities on the balance sheet on a gross basis, measure those instruments at fair value and recognize the change in fair value in earnings in the period of change, unless the derivative qualifies as an effective hedge that offsets certain exposures. We have agreed with almost all of our counterparties with whom we had entered into cross- currency swaps, interest rate swaps or foreign exchange contracts, to enter into bilateral collateralization contracts under which we will receive or provide cash collateral, as the case may be, for the net position with each of these counterparties. As of December 31, 2023 , cash collateral positions consisted of $5.4 million recorded in accrued and other current liabilities and $87.7 million recorded in prepaid expenses and other current assets in the accompanying consolidated balance sheet. As of December 31, 2022 , we had cash collateral positions consisting of $21.8 million recorded in accrued and other current liabilities and $21.1 million recorded in prepaid expenses and other current assets in the accompanying consolidated balance sheet. Non-Derivative Hedging Instrument Net Investment Hedge We are party to a foreign currency non-derivative hedging instrument that is designated and qualifies as a net investment hedge. The objective of the hedge is to protect part of the net investment in foreign operations against adverse changes in the exchange rate between the euro and the U.S. dollar. The non-derivative hedging instrument is the German private corporate bond (2017 Schuldschein) which was issued in 2017 in the total amount of $331.1 million as described in Note 16 "Debt." Of the $331.1 million , which is held in both U.S. dollars and euros, €255.0 million was designated as the hedging instrument as of December 31, 2022 against a portion of our euro net investments in our foreign operations. As further described in Note 16, four tranches of the 2017 Schuldschein matured and were paid in October 2022 and two tranches of the 2017 Schuldschein matured and were paid during 2021. As a result, €109.5 million remained designated as a hedging instrument as of December 31, 2023 . In July 2022, we issued an additional €370.0 million German private corporate bond (2022 Schuldschein) as described in Note 16, and it is designated in its entirety as the hedging instrument against a portion of our euro net investments in our foreign operations. The relative changes in both the hedged item and hedging instrument are calculated by applying the change in spot rate between two assessment dates against the respective notional amount. The effective portion of the hedge is recorded in the cumulative translation adjustment account within accumulated other comprehensive loss. Based on the spot rate method, the unrealized loss recorded in equity as of December 31, 2023 and 2022 is $35.2 million and $22.6 million , respectively. Since we are using the debt as the hedging instrument, which is also remeasured based on the spot rate method, there is no hedge ineffectiveness related to the net investment hedge as of December 31, 2023 and 2022 . Derivatives Designated as Hedging Instruments Net Investment Hedge In September 2022, we entered into a one-month interest rate derivative contract for a total notional amount €135.0 million , that matured on October 13, 2022, which qualified as a net investment hedge. The objective of the hedge was to protect the additional investments in foreign operations in September 2022 against adverse changes in the exchange rate between the euro and the functional currency of the U.S. dollar. The relative changes in both the hedged item and derivative hedging instrument were calculated by applying the change in spot rate between two assessment dates against the respective notional amount. The effective portion of the hedge is recorded in the cumulative translation adjustment account within accumulated other comprehensive loss and will be reclassified to earnings upon the disposal or liquidation of the foreign operations. In October 2022, the interest rate derivative contract expired and the unrealized gain recorded in equity was $5.8 million as of December 31, 2022 . Cash Flow Hedges As of December 31, 2023 and 2022 , we held derivative instruments that are designated and qualify as cash flow hedges, where the effective portion of the gain or loss on the derivative is reported as a component of other comprehensive loss and reclassified into earnings in the same period or periods during which the hedged transaction affects earnings. Gains and losses on the derivative representing either hedge ineffectiveness or hedge components excluded from the assessment of effectiveness are recognized in current earnings. To date, we have not recorded any hedge ineffectiveness related to any cash flow hedges in earnings. Based on their valuation as of December 31, 2023 , we expect approximately $2.1 million of derivative gains included in accumulated other comprehensive loss will be reclassified into income during the next 12 months. The cash flows derived from derivatives are classified in the consolidated statements of cash flows in the same category as the hedged item. We use interest rate derivative contracts to align our portfolio of interest-bearing assets and liabilities with our risk management objectives. Since 2015, we have been a party to five cross-currency interest rate swaps through 2025 for a total notional amount of €180.0 million which qualify for hedge accounting as cash flow hedges. In September 2022, we entered into five new cross-currency interest rate swaps through 2025 for a total notional amount of CHF 542.0 million which qualify for hedge accounting as cash flow hedges. We determined that no ineffectiveness exists related to these swaps. As of December 31, 2023 and 2022 , interest receivables of $8.4 million and $5.5 million , respectively, are recorded in prepaid expenses and other current assets in the accompanying consolidated balance sheets. Fair Value Hedges Until October 2022, we held derivative instruments that qualified for hedge accounting as fair value hedges. For derivative instruments that are designated and qualify as a fair value hedge, the effective portion of the gain or loss on the derivative is reflected in earnings. This effect on earnings is offset by the change in the fair value of the hedged item attributable to the risk being hedged that is also recorded in earnings. The cash flows derived from derivatives are classified in the consolidated statement of cash flows in the same category as the consolidated balance sheet account of the underlying item. We held interest rate swaps which effectively fixed the fair value of a portion of our fixed rate private placement debt and qualified for hedge accounting as fair value hedges. These interest rate swap derivative instruments expired along with the repayment of the private placement debt in October 2022, as described in Note 16 "Debt." There had been no ineffectiveness related to the interest rate swaps. Derivatives Not Designated as Hedging Instruments Call Options We entered into Call Options which, along with the sale of the Warrants, represent the Call Spread Overlay entered into in connection with the Cash Convertible Notes and which are more fully described in Note 16 "Debt." In these transactions, the Call Options are intended to address the equity price risk inherent in the cash conversion feature of each instrument by offsetting cash payments in excess of the principal amount due upon any conversion of the Cash Convertible Notes. Accordingly, the derivative is presented as either current or long-term based upon the classification of the related debt. Aside from the initial payment of premiums for the Call Options, we will not be required to make any cash payments under the Call Options. We will, however, be entitled to receive under the terms of the Call Options, an amount of cash generally equal to the amount by which the market price per share of our common stock exceeds the exercise price of the Call Options during the relevant valuation period. The exercise price under the Call Options is equal to the conversion price of the Cash Convertible Notes. The Call Options, for which our common stock is the underlying security, are derivative assets that require mark-to-market accounting treatment. The Call Options are measured and reported at fair value on a recurring basis within Level 2 of the fair value hierarchy. The change in fair value is recognized immediately in our consolidated statements of income in other (expense) income, net . Cash Convertible Notes Embedded Cash Conversion Option The embedded cash conversion option within the Cash Convertible Notes discussed in Note 16 "Debt" is required to be separated from the Cash Convertible Notes and accounted for separately as a derivative liability, with changes in fair value reported in our consolidated statements of income in other (expense) income, net until the cash conversion option settles or expires. The embedded cash conversion option is measured and reported at fair value on a recurring basis within Level 2 of the fair value hierarchy. Because the terms of the Cash Convertible Notes' embedded cash conversion option are substantially similar to those of the Call Options, discussed above, we expect the effect on earnings from these two derivative instruments to mostly offset each other. In September 2023, the 2023 Notes and the related Call Options have been settled as described in Note 16 and we recognized a gain of $0.9 million in other (expense) income, net in the accompanying consolidated statement of income. Foreign Exchange Contracts As a globally active enterprise, we are subject to risks associated with fluctuations in foreign currencies in our ordinary operations. This includes foreign currency-denominated receivables, payables, debt and other balance sheet positions including intercompany items. We manage balance sheet exposure on a group-wide basis using foreign exchange forward contracts, foreign exchange options and cross-currency swaps. We are party to various foreign exchange forward, option and swap arrangements which had an aggregate notional value of $590.9 million at December 31, 2023 , which expire at various dates through September 2024 . At December 31, 2022 , these arrangements had an aggregate notional value of $466.0 million , which expired at various dates through July 2023 . The transactions have been entered into to offset the effects from short-term balance sheet exposure to foreign currency exchange risk. Changes in the fair value of these arrangements have been recognized in other (expense) income, net . Fair Values of Derivative Instruments The following table summarizes the fair value amounts of derivative instruments reported in the consolidated balance sheets as of December 31, 2023 and 2022 : (in thousands) 2023 2022 Current asset Long-term asset Current asset Long-term asset Assets: Derivative instruments designated as hedges Interest rate contracts - cash flow hedge (1) $— $3,083 $— $12,256 Total derivative instruments designated as hedges — 3,083 — 12,256 Undesignated derivative instruments Equity options 39,759 — 102,671 119,098 Foreign exchange forwards and options 3,471 — 8,946 — Total undesignated derivative instruments 43,230 — 111,617 119,098 Total derivative assets $43,230 $3,083 $111,617 $131,354 (in thousands) 2023 2022 Current liability Long-term liability Current liability Long-term liability Liabilities: Derivative instruments designated as hedges Interest rate contracts - cash flow hedge (1) $— ($98,908) $— ($36,982) Total derivative instruments designated as hedges — (98,908) — (36,982) Undesignated derivative instruments Cash convertible notes embedded conversion option (39,830) — (102,896) (119,736) Foreign exchange forwards and options (9,944) — (8,356) — Total undesignated derivative instruments (49,774) — (111,252) (119,736) Total derivative liabilities ($49,774) ($98,908) ($111,252) ($156,718) (1) The fair value am ounts for the interest rate contracts do not include accrued interest. Gains and Losses on Derivative Instruments The following tables summarize the gains and losses on derivative instruments for the years ended December 31, 2023 , 2022 and 2021 : (in thousands) 2023 2022 2021 Other (expense) income, net Other (expense) income, net Other (expense) income, net Total amounts presented in the Consolidated Statements of Income in which the effects of cash flow and fair value hedges are recorded ($5,711) $6,741 $40,671 Gains (losses) on derivatives in cash flow hedges: Interest rate contracts Amount of gain (loss) reclassified from accumulated other comprehensive loss $66,600 $21,940 ($17,010) Amounts excluded from effectiveness testing — — — Gains (losses) on derivatives in fair value hedges: Interest rate contracts Hedged item — 1,971 3,072 Derivatives designated as hedging instruments — (1,971) (3,072) Gains (losses) on derivatives not designated as hedging instruments: Equity options (182,011) (130,801) (23,882) Cash convertible notes embedded cash conversion option 182,802 131,227 28,154 Foreign exchange forwards and options (8,610) 72,641 10,333 Total gains (losses) on derivative instruments $ 58,781 $ 95,007 ($2,405)

Financial Instruments and Fair

Financial Instruments and Fair Value Measurements	12 Months Ended
	Dec. 31, 2023
Fair Value Disclosures [Abstract]
Financial Instruments and Fair Value Measurements	Financial Instruments and Fair Value Measurements Assets and liabilities are measured at fair value according to a three-tier fair value hierarchy which prioritizes the inputs used in measuring fair value as follows: • Level 1. Observable inputs, such as quoted prices in active markets; • Level 2. Inputs, other than the quoted price in active markets, that are observable either directly or indirectly; and • Level 3. Unobservable inputs in which there is little or no market data, which require the reporting entity to develop its own assumptions. The following table presents our fair value hierarchy for our financial assets and liabilities measured at fair value on a recurring basis as of December 31, 2023 and 2022 : (in thousands) 2023 2022 Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total Assets: Cash equivalents $481,360 $9,982 $— $491,342 $289,394 $94,828 $— $384,222 Short-term investments — 81,023 — 81,023 79,600 592,997 — 672,597 Non-marketable equity securities — — 4,435 4,435 — — 5,329 5,329 Equity options — 39,759 — 39,759 — 221,769 — 221,769 Foreign exchange forwards and options — 3,471 — 3,471 — 8,946 — 8,946 Interest rate contracts - cash flow hedge — 3,083 — 3,083 — 12,256 — 12,256 Total financial assets $481,360 $137,318 $4,435 $623,113 $368,994 $930,796 $5,329 $1,305,119 Liabilities: Cash convertible notes embedded conversion option $— ($39,830) $— ($39,830) $— ($222,632) $— ($222,632) Foreign exchange forwards and options — (9,944) — (9,944) — (8,356) — (8,356) Interest rate contracts - cash flow hedge — (98,908) — (98,908) — (36,982) — (36,982) Contingent consideration — — (18,359) (18,359) — — (18,088) (18,088) Total financial liabilities $— ($148,682) ($18,359) ($167,041) $— ($267,970) ($18,088) ($286,058) The carrying values of financial instruments, including cash and cash equivalents, accounts receivable, accounts payable and other accrued liabilities, approximate their fair values due to their short-term maturities. Our assets and liabilities measured at fair value on a recurring basis consist of cash equivalents and short-term investments, which are classified in Level 1 and Level 2 of the fair value hierarchy; derivative contracts used to hedge currency and interest rate risk and derivative financial instruments entered into in connection with the Cash Convertible Notes discussed in Note 16 "Debt," which are classified in Level 2 of the fair value hierarchy; contingent consideration accruals, which are classified in Level 3 of the fair value hierarchy; and non-marketable equity securities remeasured during the years ended December 31, 2023 and 2022 classified within Level 3 in the fair value hierarchy. There were no transfers between levels for the year ended December 31, 2023 . In determining fair value for Level 2 instruments, we apply a market approach using quoted active market prices relevant to the particular instrument under valuation, giving consideration to the credit risk of both the respective counterparty to the contract and the Company. To determine our credit risk, we estimated our credit rating by benchmarking the price of outstanding debt to publicly-available comparable data from rated companies. Using the estimated rating, our credit risk was quantified by reference to publicly-traded debt with a corresponding rating. The Level 2 derivative financial instruments include the Call Options asset and the embedded conversion option liability. See Note 16 "Debt" and Note 14 "Derivatives and Hedging" for further information. The derivatives are not actively traded and are valued based on an option pricing model that uses observable market data for inputs. Significant market data inputs used to determine fair values included our common stock price, the risk-free interest rate, and the implied volatility of our common stock. The Call Options asset and the embedded cash conversion option liability were designed with the intent that changes in their fair values would substantially offset, with limited net impact to our earnings. Therefore, the sensitivity of changes in the unobservable inputs to the option pricing model for such instruments is substantially mitigated. Our Level 3 instruments include non-marketable equity security investments. Under the measurement alternative, the carrying value is measured at cost, less any impairment, plus or minus changes resulting from observable price changes in orderly transactions for identical or similar investments of the same issuer. Adjustments are determined primarily based on a market approach as of the transaction date. Refer to Note 10 "Investments" for the change in non-marketable equity securities with Level 3 inputs during the years ended December 31, 2023 and 2022 . Our Level 3 instruments also include contingent consideration liabilities. We value contingent consideration liabilities using unobservable inputs, applying the income approach, such as the discounted cash flow technique or the probability- weighted scenario method. Contingent consideration arrangements obligate us to pay the sellers of an acquired entity if specified future events occur or conditions are met, such as the achievement of technological or revenue milestones. We use various key assumptions, such as the probability of achievement of the milestones ( 0% to 100% ) and the discount rate (between 6.5% and 6.6% ), to represent the non-performing risk factors and time value when applying the income approach. We regularly review the fair value of the contingent consideration and reflect any change in the accrual in the consolidated statements of income in the line items commensurate with the underlying nature of milestone arrangements. For contingent consideration liabilities with Level 3 inputs, the following table summarizes the activity for the years ended December 31, 2023 and 2022 , all of which is related to the 2018 acquisition of STAT-Dx: (in thousands) 2023 2022 Balance at beginning of year ($18,088) ($24,100) Changes in fair value (271) 112 Payments — 5,900 Balance at end of year ($18,359) ($18,088) As of December 31, 2023 , $18.4 million was accrued for contingent consideration and is included in accrued and other current liabilities in the accompanying consolidated balance sheet . As of December 31, 2022 , $18.1 million was accrued for contingent consideration, of which $8.2 million was included in accrued and other current liabilities and $9.9 million was included in other long-term liabilities in the accompanying consolidated balance sheet . The estimated fair value of long-term debt, as disclosed in Note 16 "Debt," was based on current interest rates for similar types of borrowings. The estimated fair values may not represent actual values of the financial instruments that could be realized as of the balance sheet date or that will be realized in the future. The fair values of the financial instruments are presented in Note 16 "Debt" and were determined as follows: Cash Convertible Notes and Convertible Notes : Fair value is based on an estimation using available over-the-counter market information on the Cash Convertible Notes due in 2024 as well as the Convertible Notes due in 2027. German Private Placements: Fair value is based on an estimation using changes in the euro swap rates. There were no adjustments in the years ended December 31, 2023 and 2022 for nonfinancial assets or liabilities required to be measured at fair value on a nonrecurring basis.

Debt

Debt	12 Months Ended
	Dec. 31, 2023
Debt Instruments [Abstract]
Debt	Debt At December 31, 2023 and 2022 , total long-term debt, net of debt issuance costs of $4.0 million and $6.6 million , respectively, consists of the following: (in thousands) 2023 2022 0.500% Senior Unsecured Cash Convertible Notes due 2023 $— $389,552 1.000% Senior Unsecured Cash Convertible Notes due 2024 483,019 464,331 0.000% Senior Unsecured Convertible Notes due 2027 497,869 497,336 German Private Placement (2017 Schuldschein) 120,956 116,699 German Private Placement (2022 Schuldschein) 407,950 393,532 Total long-term debt 1,509,794 1,861,450 Less: Current portion 587,970 389,552 Long-term portion $921,824 $1,471,898 The notes are all unsecured obligations that rank pari passu. N o Contingent Conversion Conditions were triggered as of December 31, 2023 . Repayments of long-term debt for the years ended December 31, 2023 , 2022 and 2021 consisted of: (in thousands) 2023 2022 2021 German Private Placement (2017 Schuldschein) $— $153,003 $41,145 0.500% Senior Unsecured Cash Convertible Notes due 2023 400,000 — — 0.875% Senior Unsecured Cash Convertible Notes due 2021 — — 200 3.75% Series B Senior Notes due October 16, 2022 — 300,000 — 3.90% Series C Senior Notes due October 16, 2024 — 27,000 — Total repayment of long-term debt $400,000 $480,003 $41,345 The principal amount, carrying amount and fair values of long-term debt instruments as of December 31, 2023 and 2022 are summa rized b elow: (in thousands) 2023 Principal amount Unamortized debt discount and issuance costs Carrying amount Fair value Amount Leveling Cash Convertible Notes due 2024 $500,000 ($16,981) $483,019 $513,500 Level 1 Convertible Notes due 2027 500,000 (2,131) 497,869 453,185 Level 1 German Private Placement (2017 Schuldschein) 121,009 (53) 120,956 118,978 Level 2 German Private Placement (2022 Schuldschein) 408,846 (896) 407,950 401,684 Level 2 $1,529,855 ($20,061) $1,509,794 $1,487,347 (in thousands) 2022 Principal amount Unamortized debt discount and issuance costs Carrying amount Fair value Amount Leveling Cash Convertible Notes due 2023 $400,000 ($10,448) $389,552 $493,436 Level 1 Cash Convertible Notes due 2024 500,000 (35,669) 464,331 596,485 Level 1 Convertible Notes due 2027 500,000 (2,664) 497,336 471,545 Level 1 German Private Placement (2017 Schuldschein) 116,821 (122) 116,699 112,401 Level 2 German Private Placement (2022 Schuldschein) 394,638 (1,106) 393,532 378,302 Level 2 $1,911,459 ($50,009) $1,861,450 $2,052,169 Future maturities of long-term debt stated at the carrying values as of December 31, 2023 are as follows: Years ending December 31, (in thousands) 2024 $587,970 2025 56,836 2026 — 2027 614,800 2028 — Thereafter 250,188 $1,509,794 Interest expense on long-term debt was $52.4 million , $55.1 million and $50.7 million for the years ended December 31, 2023 , 2022 and 2021 , respectively. Interest expense for the years ended December 31, 2023 and 2022 related to the 2027 Notes and the Cash Convertible Notes was comprised of the following: (in thousands) 2023 2022 Coupon interest $4,169 $7,000 Amortization of original issuance discount 27,341 30,170 Amortization of debt issuance costs 2,328 2,593 Total interest expense related to the convertible notes $33,838 $39,763 Convertible Notes due 2027 On December 17, 2020, we issued zero coupon convertible notes in an aggregate principal amount of $500.0 million with a maturity date of December 17, 2027 (2027 Notes). The 2027 Notes carry no coupon interest. The net proceeds of the 2027 Notes totaled $497.6 million , after payment of debt issuance costs of $3.7 million . In accounting for the issuance of the 2027 Notes in 2020 prior to the adoption of ASU 2020-06, we separated the 2027 Notes into liability and equity components. We allocated $445.9 million of the 2027 Notes to the liability component, representing the fair value of a similar debt instrument that does not have an associated convertible feature; and $54.1 million to the equity component, representing the conversion option, which did not meet the criteria for separate accounting as a derivative as it is indexed to our own stock. ASU 2020-06 was adopted on January 1, 2021, and this resulted in a decrease of $54.1 million to additional paid-in capital and an increase of $0.3 million to retained earnings for the conversion feature related to the liability for the 2027 Notes. The effective interest rate of the 2027 Notes is 1.65% , which is imputed based on the amortization of the fair value of the embedded conversion option over the remaining term of the 2027 Notes. The 2027 Notes are convertible into common shares based on an initial conversion rate, subject to adjustment, of 2,477.65 shares per $200,000 principal amount of notes (which represented an initial conversion price of $80.7218 per share or 6.2 million underlying shares). Following the January 2024 synthetic share repurchase discussed in Note 18 "Equity," the adjusted conversion rate became 2,475.26 shares per $200,000 principal amount of notes, which represents an adjusted conversion price per share of $80.7996 . At conversion, we will settle the 2027 Notes by repaying the principal portion in cash and any excess of the conversion value over the principal amount in shares of common shares. The notes may be redeemed at the option of each noteholder at their principal amount on December 17, 2025 or in connection with a change of control or delisting event (as further described in the 2027 Notes). The 2027 Notes are convertible in whole, but not in part, at the option of the noteholders on a net share settlement basis, at the prevailing conversion price, in the following circumstances beginning after January 27, 2021 through June 16, 2027: • if the last reported sale price of our common shares for at least 20 -consecutive trading days during a period of 30 - consecutive trading days ending on the last trading day of the immediately preceding calendar quarter is greater than or equal to 130% of the conversion price on each applicable trading day; or • if we undergo certain fundamental changes, including a change of control, as defined in the agreement; or • if a parity event or trading price unavailability event, as the case may be, occurs during the period of 10 days, including the first business day following the relevant trading price notification date; or • if we distribute assets or property to all or substantially all of the holders of our common shares and those assets or other property have a value of more than 25% of the average daily volume-weighted average trading price of our common shares for the prior 20 consecutive trading days; or • in case of early redemption in respect of the outstanding notes at our option, where the conversion date falls in the period from (and including) the date on which the call notice is published to (and including) the 45th business day prior to the redemption date; or • if we experience certain customary events of default, including defaults under certain other indebtedness, until such event of default has been cured or waived. The noteholders may convert their notes at any time, without condition, on or after June 17, 2027 until the 45th business day prior to December 17, 2027. No Contingent Conversion Conditions were triggered for the 2027 Notes as of December 31, 2023 or December 31, 2022 . Cash Convertible Notes due 2023 and 2024 On September 13, 2017, we issued $400.0 million aggregate principal amount of Cash Convertible Senior Notes which were due and repaid in September 2023 ( 2023 Notes). The net proceeds of the 2023 Notes were $365.6 million , after payment of the net cost of the Call Spread Overlay described below and transaction costs. On November 13, 2018, we issued $500.0 million aggregate principal amount of Cash Convertible Senior Notes which is due in 2024 (2024 Notes). The net proceeds of the 2024 Notes were $468.9 million , after payment of the net cost of the Call Spread Overlay described below and transaction costs. We refer to the 2023 Notes and 2024 Notes, collectively as the “Cash Convertible Notes." Interest on the Cash Convertible Notes is payable semi-annually in arrears and will mature on the maturity date unless repurchased or converted with their terms prior to such date. The interest rate and corresponding maturity of each Note are summarized in the table below. The Cash Convertible Notes that remain outstanding as of December 31, 2023 are solely convertible into cash in whole, but not in part, at the option of noteholders under the circumstances described below and during the contingent conversion periods as shown in the t able bel ow. Cash convertible notes Annual interest rate Date of interest payments Maturity date Contingent conversion period Conversion rate per $200,000 principal amount (1) 2024 Notes 1.000% May 13 and November 13 November 13, 2024 From December 24, 2018 to August 2, 2024 4,360.3098 (1) Following the January 2024 synthetic share repurchase discussed in Note 18 "Equity," the conversion rate was adjusted to 4,356.8531. Additionally, conversion may occur at any time following a Contingent Conversion Period through the fifth business day immediately preceding the applicable maturity date. Upon conversion, noteholders will receive an amount in cash equal to the Cash Settlement Amount, calculated as described below. The Cash Convertible Notes are not convertible into shares of our common stock or any other securities. Noteholders may convert Cash Convertible Notes into cash at their option at any time during the Contingent Conversion Periods described above only under the following circumstances (Contingent Conversion Conditions): • if the last reported sale price of our common shares for at least 20 -consecutive trading days during a period of 30 - consecutive trading days ending on the last trading day of the immediately preceding calendar quarter is greater than or equal to 130% of the conversion price on each applicable trading day; • if we undergo certain fundamental changes, including a change of control, as defined in the agreement; or • if a parity event or trading price unavailability event, as the case may be, occurs during the period of 10 days , including the first business day following the relevant trading price notification date; or • if we elect to distribute assets or property to all or substantially all of the holders of our common shares and those assets or other property have a value of more than 25% of the average daily volume-weighted average trading price of our common shares for the prior 20 consecutive trading days; or • if we elect to redeem the Cash Convertible Notes; or • if we experience certain customary events of default, including defaults under certain other indebtedness until such event has been cured or waived or the payment of the Cash Convertible Notes have been accelerated. For the 2023 Notes, the Contingent Conversion Period expired on March 13, 2023 and, as of March 31, 2023 , the Contingent Conversion Conditions for the 2023 Notes could no longer be triggered. No Contingent Conversion Conditions were triggered for the 2023 Notes as of December 31, 2022. No Contingent Conversion Conditions were triggered for the 2024 Notes as of December 31, 2023 or December 31, 2022 . The Contingent Conversion Conditions in the 2023 Notes and 2024 Notes noted above have been analyzed under ASC 815, Derivatives and Hedging, and, based on our analysis, we determined that each of the embedded features listed above are clearly and closely related to the 2023 Notes and 2024 Notes (i.e., the host contracts). As a result, pursuant to the accounting provisions of ASC 815, Derivatives and Hedging, these features noted above are not required to be bifurcated as separate instruments. Upon conversion, holders are entitled to a cash payment (Cash Settlement Amount) equal to the average of the conversion rate multiplied by the daily volume-weighted average trading price for our common shares over a 50 -day period. The conversion rate is subject to adjustment in certain instances but will not be adjusted for any accrued and unpaid interest. In addition, following the occurrence of certain corporate events that may occur prior to the applicable maturity date, we may be required to pay a cash make-whole premium by increasing the conversion rate for any holder who elects to convert Cash Convertible Notes in connection with the occurrence of such a corporate event. We may redeem the Cash Convertible Notes in their entirety at a price equal to 100% of the principal amount of the applicable Cash Convertible Notes plus accrued interest at any time when 20% or less of the aggregate principal amount of the applicable Cash Convertible Notes originally issued remain outstanding. Because the Cash Convertible Notes contain an embedded cash conversion option, we have determined that the embedded cash conversion option is a derivative financial instrument, which is required to be separated from the Cash Convertible Notes and accounted for separately as a derivative liability, with changes in fair value reported in our consolidated statements of income until the cash conversion option transaction settles or expires. The initial fair value liability of the embedded cash conversion option was $74.5 million for the 2023 Notes and $98.5 million for the 2024 Notes, which simultaneously reduced the carrying value of the Cash Convertible Notes (effectively serving as an original issuance discount). For further discussion of the derivative financial instruments relating to the Cash Convertible Notes, refer to Note 14 "Derivatives and Hedging." As noted above, the reduced carrying value on the Cash Convertible Notes resulted in a debt discount that is amortized to the principal amount through the recognition of non-cash interest expense using the effective interest method over the expected life of the debt, six years for both the 2023 Notes and 2024 Notes. This resulted in our recognition of interest expense on the Cash Convertible Notes at an effective rate approximating what we would have incurred had nonconvertible debt with otherwise similar terms been issued. The effective interest rate is 3.997% for 2023 Notes and 4.782% for the 2024 Notes, which is imputed based on the amortization of the fair value of the embedded cash conversion option over the remaining term of the Cash Convertible Notes. We incurred approximately $6.2 million and $5.7 million in transaction costs for the 2023 Notes and 2024 Notes, respectively. Such costs have been allocated to the Cash Convertible Notes and deferred and are being amortized to interest expense over the terms of the Cash Convertible Notes using the effective interest method. Cash Co nvertible Notes Call Spread Overlay Concurrent with the issuance of the Cash Convertible Notes, we entered into privately negotiated hedge transactions (Call Options) with, and issued warrants to purchase shares of our common stock (Warrants) to, certain financial institutions. We refer to the Call Options and Warrants collectively as the “Call Spread Overlay.” The Call Options are intended to offset any cash payments payable by us in excess of the principal amount due upon any conversion of the Cash Convertible Notes. The Call Options are derivative financial instruments and are discussed further in Note 14 "Derivatives and Hedging." The Warrants are equity instruments and are further discussed in Note 18 "Equity." Aside from the initial payment of a premium, we will not be required to make any cash payments under the Call Options, and will be entitled to receive an amount of cash, generally equal to the amount by which the market price per share of our common shares exceeds the exercise price of the Call Options during the relevant valuation period. The exercise price under the Call Options is initially equal to the conversion price of the Cash Convertible Notes. During the third quarter of 2023, we received $36.8 million in cash upon the exercise of Call Options in connection with the repayment of 2023 Notes. In the same transaction, we paid $36.8 million for the intrinsic value of the 2023 Notes' embedded conversion option. The Warrants that were issued with our Cash Convertible Notes, could have a dilutive effect to the extent that the price of our common stock exceeds the applicable strike price of the Warrants. For each Warrant that is exercised, we will deliver to the holder a number of shares of our common stock equal to the amount by which the settlement price exceeds the exercise price, plus cash in lieu of any fractional shares. We will not receive any proceeds if the Warrants are exercised. U.S. Private Placement On October 16, 2012 , we completed a private placement through the issuance of new senior unsecured notes at a total amount of $400.0 million with a weighted average interest rate of 3.66% (settled on October 16, 2012 ). The notes were issued in three series: (1) $73.0 million 7 -year term due and paid on October 16, 2019 ( 3.19% ); (2) $300.0 million 10 - year term due and paid on October 16, 2022 ( 3.75% ); and (3) $27.0 million 12 -year term due on October 16, 2024 ( 3.90% ) but called and paid in October 2022. We paid $2.1 million in debt issuance costs which w er e amortized through interest expense using the effective interest method over the lifetime of the notes. The note purchase agreement contained certain financial and non-financial covenants, including but not limited to, restrictions on priority indebtedness and the maintenance of certain financial ratios. We were in compliance with these covenants at December 31, 2022. During 2014, we entered into interest rate swaps, which effectively fixed the fair value of $200.0 million of this debt. The interest rate swaps expired in October 2022 following the repayments of $127.0 million in 2022 and $73.0 million in 2019. These interest rate swaps qualify for hedge accounting as fair value hedges as further described in Note 14 "Derivatives and Hedging." German Private Placement (2017 Schuldschein) In 2017, we completed a German private placement bond (2017 Schuldschein) which was issued in several tranches totaling $331.1 million due in various periods through 2027. In the first quarter of 2021, we repaid $41.1 million for two tranches that matured. In October 2022, we repaid $153.0 million for the four tranches that matured. The euro tranches are designated as a foreign currency non-derivative hedging instrument that qualifies as a net investment hedge as described in Note 14 "Derivatives and Hedging." Based on the spot rate method, the change in the carrying value of the euro-denominated tranches attributed to the net investment hedge as of December 31, 2023 totaled $1.0 million of unrealized gain and is recorded in equity. We paid $1.2 million in debt issuance costs which are being amortized through interest expense over the lifetime of the notes . A summary of the tranches is as follows: Carrying value (in thousands) as of December 31, Currency Notional amount Interest rate Maturity 2023 2022 EUR €64.0 million Fixed 1.09% June 2024 $70,704 $68,215 EUR €31.0 million Floating EURIBOR + 0.7% June 2024 34,247 33,041 EUR €14.5 million Fixed 1.61% June 2027 16,005 15,443 $120,956 $116,699 German Private Placement (2022 Schuldschein) In July and August 2022, we completed another German private placement bond (2022 Schuldschein) which was issued in several tranches totaling €370.0 million due in various periods through 2035. The 2022 Schuldschein consists of euro- denominated tranches which have either a fixed or floating rate. All tranches except for the €70.0 million fixed 3.04% tranche due August 2035 are ESG-linked wherein the interest rate is subject to adjustment of +/- 0.025% if our ESG rating changes. The euro tranches are designated as a foreign currency non-derivative hedging instrument that qualifies as a net investment hedge as described in Note 14 "Derivatives and Hedging." Based on the spot rate method, the change in the carrying value of the euro-denominated tranches attributed to the net investment hedge as of December 31, 2023 totaled $36.2 million of unrealized loss and is recorded in equity. We paid $1.2 million in debt issuance costs which are being amortized through interest expense using the effective interest method over the lifetime of the notes. A summary of the tranches is as follows: Carrying value (in thousands) as of December 31, Currency Notional amount Interest rate Maturity 2023 2022 EUR €51.5 million Floating 6M EURIBOR + 0.55% July 2025 $56,836 $54,803 EUR €62.0 million Fixed 2.741% July 2027 68,388 65,967 EUR €29.5 million Floating 6M EURIBOR + 0.70% July 2027 32,539 31,388 EUR €37.0 million Fixed 3.044% July 2029 40,803 39,365 EUR €103.0 million Floating 6M EURIBOR + 0.85% July 2029 113,586 109,585 EUR €9.5 million Fixed 3.386% July 2032 10,475 10,107 EUR €7.5 million Floating 6M EURIBOR + 1.0% July 2032 8,269 7,979 EUR €70.0 million Fixed 3.04% August 2035 77,054 74,338 $407,950 $393,532 Revolving Credit Facility Our credit facilities available and undrawn at December 31, 2023 total €413.0 million (approximately $456.4 million ). This includes a €400.0 million syndicated ESG-linked revolving credit facility expiring December 2025 and two other lines of credit amounting to €13.0 million with no expiration date. The €400.0 million facility can be utilized in euro and bears interest of 0.550% to 1.500% above EURIBOR, and is offered with interest periods of one , three or six months . The commitment fee is calculated based on 35% of the applicable margin. Commitment fees of $0.9 million were paid in each of the years ended December 31, 2023 and 2022 . The revolving facility agreement contains certain financial and non- financial covenants including, but not limited to, restrictions on the encumbrance of assets and the maintenance of certain financial ratios. We were in compliance with these covenants at December 31, 2023 . The credit facilities are for general corporate purposes and no amounts were utilize d at December 31, 2023 .

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2023
Income Tax Disclosure [Abstract]
Income Taxes	Inco me T axes I ncome before income tax expense for the years ended December 31, 2023 , 2022 and 2021 consisted of: (in thousands) 2023 2022 2021 Pretax income in the Netherlands $18,591 $14,551 $7,062 Pretax income from foreign operations 411,218 498,050 618,771 Total income before income tax expense $429,809 $512,601 $625,833 I ncome tax expense for the years ended December 31, 2023 , 2022 and 2021 are as follows: (in thousands) 2023 2022 2021 Current: The Netherlands $11,393 $9,672 $1,714 Foreign 66,382 89,321 116,808 77,775 98,993 118,522 Deferred: The Netherlands (5,535) (683) (1,776) Foreign 16,266 (8,920) (3,512) 10,731 (9,603) (5,288) Total income tax expense $88,506 $89,390 $113,234 The Netherlands' statutory income tax rate, the income tax rate of our country of domicile, was 25.8% for the years ended December 31, 2023 and 2022 and 25% for the year ended December 31, 2021 . Income from foreign subsidiaries is generally taxed at the statutory income tax rates applicable in the respective countries of domicile. T he principal items comprising the differences between income taxes computed at the Netherlands' statutory income tax rate and our effective tax rate for the years ended December 31, 2023 , 2022 and 2021 are as follows: 2023 2022 2021 The Netherlands' statutory income tax rate 25.8% 25.8% 25.0% Taxation of foreign operations, net (1) (7.6) (4.9) (3.0) Unrecognized tax benefits (2) 3.1 0.9 1.6 Excess tax benefit related to share-based compensation (0.3) (0.5) (1.0) Prior year taxes 0.3 (1.1) 0.6 Government incentives (3) (1.0) (0.5) (0.6) Changes in tax laws and rates 0.2 (0.2) (0.4) Tax impact from nondeductible (deductible) items 1.3 (1.9) 0.2 Valuation allowance (1.8) 0.0 (4.4) Other items, net 0.6 (0.2) 0.1 Effective tax rate 20.6% 17.4% 18.1% (1) Our effective tax rate reflec ts our global operations where certain income or loss is taxed at rates higher or lower than the Netherlands’ statutory income tax rate as well as the benefit of some income being partially exempt from income taxes. These foreign tax benefits are due to a combination of favorable tax laws, regulations and exemptions in certain jurisdictions. Partial tax exemptions exist on foreign income primarily derived from operations in Germany. Further, we have intercompany financing arrangements in which the intercompany income is nontaxable in Dubai or partially exempt or subject to lower statutory income tax rates. (2) Unrecognized tax benefits include the impact from reassessment of accruals for tax contingencies, primarily related to ongoing taxing authority examinations . (3) Government incentives include tax credits in the U.S. relating to research and development expense. We conduct business globally and, as a result, file numerous consolidated and separate income tax returns in the Netherlands, Germany and the U.S. federal jurisdiction, as well as in various other state and foreign jurisdictions. In the normal course of business, we are subject to examination by taxing authorities throughout the world. Tax years in the Netherlands are potentially open back to 2011 for income tax examinations by the Netherlands taxing authority. The German group is open to examination for the tax years starting in 2017 and in 2022, the German taxing authority commenced an examination covering the 2017 to 2019 tax years. The U.S. consolidated group is subject to federal and most state income tax examinations by taxing authorities beginning with the year ending December 31, 2020 through the current period. In late 2023, the U.S. Internal Revenue Service commenced a U.S. federal income tax examination for the periods 2014 to 2020 . The examination was triggered by our 5-year net operating loss carryback under the CARES Act. Our other subsidiaries, with few exceptions, are no longer subject to income tax examinations by taxing authorities for years before 2019 . Changes in the amount of unrecognized tax benefits for the years ended December 31, 2023 , 2022 and 2021 are as follows: (in thousands) 2023 2022 2021 Balance at beginning of year $79,283 $103,618 $100,092 Additions based on tax positions related to the current year 9,632 9,754 6,629 Additions for tax positions of prior years 7,839 4,544 5,036 Decrease for tax position of prior years (3,832) (8,958) (266) Decrease related to settlements (119) (23,346) — Decrease due to lapse of statute of limitations — (580) (344) Increase (decrease) from currency translation 2,755 (5,749) (7,529) Balance at end of year $95,558 $79,283 $103,618 At December 31, 2023 and 2022 , our net unrecognized tax benefits totaled approximately $95.6 million and $79.3 million , respectively, which, if recognized, would favorably affect our effective tax rate in any future period. It is reasonably possible that approximately $30.8 million of the unrecognized tax benefits may be released or utilized during the next 12 months due to lapse of statute of limitations or settlements with taxing authorities. However, various events could cause our current expectations to change in the future. The above unrecognized tax benefits, if ever recognized in the financial statements, would be recorded in the statements of income as part of income tax expense. Our policy is to recognize interest accrued related to income taxes in interest expense and penalties within income tax expense. For the years ended December 31, 2023 , 2022 and 2021 , we recognized income for interest and penalties of $0.4 million , $0.4 million and $0.6 million , respectively. At December 31, 2023 and 2022 , we have accrued interest and penalties of $3.3 million and $3.5 million , respectively, which are not included in the table above. At December 31, 2023 and 2022 , in the consolidated balance sheets , w e have recorded deferred tax assets of $38.6 million and $56.3 million in other long-term assets and deferred tax liabilities of $12.8 million and $17.5 million in other long-term liabilities , respectively. The comp one nts of the net deferred tax assets at December 31, 2023 and 2022 are as follows: (in thousands) 2023 2022 Deferred tax assets: Net operating loss and tax credit carryforwards $42,944 $53,155 Intangible assets 30,084 33,510 Accrued and other liabilities 25,375 27,544 Share-based compensation 25,598 21,792 Property, plant and equipment 2,249 4,032 Convertible notes 2,173 3,621 Inventories 4,268 3,003 Disallowed interest carryforwards 1,157 1,511 Other 7,133 6,479 Total deferred tax assets before valuation allowance 140,981 154,647 Valuation allowance (13,214) (21,265) Total deferred tax assets, after valuation allowance $127,767 $133,382 Deferred tax liabilities: Intangible assets ($50,723) ($55,921) Property, plant and equipment (46,536) (33,847) Inventories (579) (820) Other (4,178) (3,997) Total deferred tax liabilities ($102,016) ($94,585) Deferred tax assets, net $25,751 $38,797 As of December 31, 2023 , the valuation allowance principally relates to net operating loss carryforwards. A deferred tax asset can only be recognized to the extent it is "more likely than not" that the assets will be realized. Judgments around realizability depend on the availability and weight of both positive and negative evidence. At December 31, 2023 , we had $486.4 million in total net operating loss (NOL) carryforwards which included $144.1 million for the U.S., $237.3 million for Germany, $30.5 million for the U.K., $15.2 million for the Netherlands, and $59.3 million for other foreign jurisdictions. The NOL carryforwards in Germany, the Netherlands and the U.K. carryforward indefinitely. The entire NOL carryforward in the U.S. is subject to limitations under Section 382 of the U.S. Internal Revenue Code which limits the amount that can be used each year. The NOL carryforwards in the U.S. expire between 2024 and 2034 . NOL carryforwards of $21.3 million in other foreign jurisdictions expire between 2024 and 2031 while the remainder can be carried forward indefinitely. At December 31, 2023 , tax credits total $6.7 million and expire between 2032 and 2041 . The changes in the valuation allowance for the years ended December 31, 2023 , 2022 and 2021 were as follows: (in thousands) 2023 2022 2021 Balance at beginning of year ($21,265) ($21,326) ($37,332) Additions charged to income tax expense (2,015) (4,470) (620) Deductions charged to income tax expense 9,719 4,287 28,251 Additions charged to additional paid-in capital — — (13,513) Currency translation 347 244 1,888 Balance at end of year ($13,214) ($21,265) ($21,326) In 2021, $13.5 million of the valuation allowance, which had been established in additional paid-in capital in 2020 related to the 2027 Convertible Notes, was reversed due to adopting ASU 2020-06. As of December 31, 2023 , a deferred tax liability has not been recognized for residual income taxes in the Netherlands on the undistributed earnings of the majority of our foreign subsidiaries as these earnings are considered to be either indefinitely reinvested or can be repatriated tax free under the Dutch participation exemption. The indefinitely reinvested earnings retained by our subsidiaries that would be subject to tax if distributed amounted to $1.2 billion at December 31, 2023 . Estimating the amount of the unrecognized deferred tax liability on indefinitely reinvested foreign earnings is not practicable. Should the earnings be remitted as dividends, we may be subject to taxes including withholding tax. We have $14.5 million of undistributed earnings that we do not consider indefinitely reinvested and have recorded a deferred tax liability at December 31, 2023 and 2022 of $0.7 million and $1.0 million , respectively.

Equity

Equity	12 Months Ended
	Dec. 31, 2023
Equity [Abstract]
Equity	Equity Shares The authorized classes of our shares consist of Common Shares ( 410 million authorized), Preference Shares ( 450 million authorized) and Financing Preference Shares ( 40 million authorized). All classes of shares have a par value of €0.01 . No Financing Preference Shares or Preference Shares have been issued. Common Shares are translated to U.S. dollars at the foreign exchange rates in effect when the shares are issued. Synthetic Share Repurchase In January 2024, we completed a synthetic share repurchase that combined a direct capital repayment with a reverse stock split. The transaction was announced on January 7, 2024 and involved an approach used by various large, multinational Dutch companies to provide returns to all shareholders in a faster and more efficient manner than traditional open-market repurchases. $295.2 million was returned to shareholders through the transaction, which reduced the total number of issued Common Shares by approximately 3% to 223.9 million (of which 2.5 million Common Shares are held in Treasury Shares) as of January 31, 2024. Issuance and Conversion of Warrants In connection with the issuance of the Cash Convertible Notes as described in Note 16 "Debt," we issued Warrants as summarized in the table below. The number of warrants and exercise prices are subject to customary adjustments under certain circumstances. The proceeds, net of issuance costs, from the sale of the Warrants are included as additional paid-in capital in the accompanying consolidated balance sheets. The Warrants are exercisable only upon expiration. For each Warrant that is exercised, we will deliver to the holder a number of shares of our common stock equal to the amount by which the settlement price exceeds the exercise price, divided by the settlement price, plus cash in lieu of any fractional shares. The Warrants could separately have a dilutive effect on shares of our common stock to the extent that the market value per share of our common stock exceeds the applicable exercise price of the Warrants (as measured under the terms of the Warrants). Cash convertible notes Issued on Number of share warrants issued (in millions) Weighted average exercise price per share Proceeds from issuance of warrants, net of issuance costs (in millions) Warrants expire over a period of 50 trading days beginning on 2023 Notes September 13, 2017 9.7 $49.9775 $45.3 June 26, 2023 2024 Notes November 13, 2018 10.9 $50.2947 $72.4 August 27, 2024 All Warrants related to the 2 023 N otes that matured in September 2023 expired unexercised. Following the January 2024 synthetic share repurchase discussed above, the adjusted weighted average exercise price per share for th e 202 4 Notes is $50.3346 . Share Repurchase Programs On July 12, 2021, we announced our seventh share repurchase program of up to $100 million of our common shares. During 2021, we repurchased 1.9 million QIAGEN shares for $100.0 million (including transaction costs). This program ended on October 29, 2021. The cost of repurchased shares is included in treasury stock and reported as a reduction in total equity when a repurchase occurs. Repurchased shares will be held in treasury in order to satisfy various obligations, which include exchangeable debt instruments, warrants and employee share-based remuneration plans. Accumulated Other Comprehensive Loss The following table is a summary of the components of accumulated other comprehensive loss as of December 31, 2023 and 2022 : (in thousands) 2023 2022 Net unrealized loss on hedging contracts, net of tax ($37,372) ($15,637) Net unrealized gain on pension, net of tax 812 645 Foreign currency effects from intercompany long-term investment transactions, net of tax benefits of $13.2 million in 2023 and 2022 (33,648) (33,311) Foreign currency translation adjustments (363,622) (355,788) Accumulated other comprehensive loss ($433,830) ($404,091)

Earnings Per Common Share

Earnings Per Common Share	12 Months Ended
	Dec. 31, 2023
Earnings Per Share [Abstract]
Earnings Per Common Share	Earnings Per Common Share We present basic and diluted earnings per common share. Basic earnings per common share is calculated by dividing the net income by the weighted average number of common shares outstanding. Diluted earnings per common share reflect the potential dilution of earnings that would occur if all “in the money” securities to issue common shares were exercised . The following schedule summarizes the information used to compute earnings per common share for the years ended December 31, 2023 , 2022 and 2021 : (in thousands, except per share data) 2023 2022 2021 Net income $341,303 $423,211 $512,599 Weighted average number of common shares used to compute basic earnings per common share 228,146 227,577 227,983 Dilutive effect of outstanding stock options and restricted stock units 2,473 2,555 3,403 Dilutive effect of outstanding warrants — 4 648 Weighted average number of common shares used to compute diluted earnings per common share 230,619 230,136 232,034 Outstanding stock options and awards having no dilutive effect, not included in above calculation 1 146 8 Outstanding warrants having no dilutive effect, not included in above calculation 17,562 20,556 19,912 Basic earnings per common share $1.50 $1.86 $2.25 Diluted earnings per common share $1.48 $1.84 $2.21 For purposes of considering the 2027 Notes, as discussed further in Note 16 "Debt," in determining diluted earnings per common share, only an excess of the conversion value over the principal amount would have a dilutive impact using the treasury stock method. Since the 2027 Notes were out of the money and anti-dilutive during the period from January 1, 2021 through December 31, 2023, they were excluded from the diluted earnings per common share calculation in 2021, 2022 and 2023.

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 31, 2023
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Licensing and Purchase Commitments We have licensing agreements with companies, universities and individuals, some of which require certain up-front payments. Royalty payments are required on net product sales ranging from 0.45 percent to 25 percent of covered products or based on quantities sold. Several of these agreements have minimum royalty requirements. The accompanying consolidated balance sheets include accrued royalties relating to these agreements in the amount of $9.7 million and $12.9 million at December 31, 2023 and 2022 , respectively. Royalty expense relating to these agreements amounted to $13.9 million , $15.5 million , and $18.5 million for the years ended December 31, 2023 , 2022 and 2021 , respectively. Royalty expense is primarily recorded in cost of sales, with a small portion recorded as research and development expense depending on the use of the technology under license. Some of these agreements also have minimum raw material purchase requirements and requirements to perform specific types of research. At December 31, 2023 , we had commitments to purchase goods or services and to make future license and royalty payments. They are as follows: Years ending December 31, (in thousands) Purchase commitments License & royalty commitments 2024 $37,396 $1,926 2025 35,992 1,453 2026 13,150 783 2027 11,383 766 2028 903 560 Thereafter — 1,729 $98,824 $7,217 Contingent Consideration Commitments Pursuant to the purchase agreements for certain acquisitions, w e could be required to make additional contingent cash payments for a previous business combination based on the achievement of certain FDA approval milestones. Potential milestone payments total $20.7 million and may be triggered by the end of 2024. The total milestone payments of $18.4 million is included in accrued and other current liabilities in the accompanying consolidated balance sheet as of December 31, 2023 . Refer to Note 15 "Financial Instruments and Fair Value Measurements" for changes in the contingent consideration liabilities. Employment Agreements Certain of our employment contracts contain provisions which guarantee payments in the event of a change in control, as defined in the agreements, or if the executive is terminated for reasons other than cause, as defined in the agreements. At December 31, 2023 , the commitment under these agreements totaled $11.5 million . Contingencies In the ordinary course of business, we provide a warranty to customers that our products are free of defects and will conform to published specifications. Generally, the applicable product warranty period is one year from the date of delivery of the product to the customer or of site acceptance, if required. Additionally, we typically provide limited warranties with respect to our services. We provide for estimated warranty costs at the time of the product sale. The changes in the carrying amount of warranty obligations for the years ended December 31, 2023 and 2022 are as follows: (in thousands) 2023 2022 Balance at beginning of year $4,899 $6,324 Provision charged to cost of sales 3,947 4,606 Usage (3,451) (4,517) Adjustments to previously provided warranties, net (1,501) (1,277) Currency translation 50 (237) Balance at end of year $3,944 $4,899 Litigation From time to time, we may be party to legal proceedings incidental to our business. As of December 31, 2023 , certain claims, suits or legal proceedings arising out of the normal course of business have been filed or were pending against QIAGEN N.V. or subsidiaries. These matters have arisen in the ordinary course and conduct of business as well as through acquisition. Because litigation is inherently unpredictable and unfavorable resolutions could occur, assessing litigation contingencies is highly subjective and requires judgments about future events. Although it is not possible to predict the outcome of such litigation, we assess the degree of probability and evaluate the reasonably possible losses that we could incur as a result of these matters. We accrue for any estimated loss when it is probable that a liability has been incurred and the amount of probable loss can be estimated. Litigation accruals recorded in accrued and other current liabilities as of December 31, 2023 and 2022 totaled $4.8 million and $6.5 million , respectively. As of December 31, 2023 , $4.7 million was accrued in other long-term liabilities in the accompanying consolidated balance sheet. We are not party to any material legal proceeding as of the date of this report except for the matters listed below. Patent Litigation Archer DX In 2018, ArcherDX (a company which spun out as an independent company in conjunction with QIAGEN's acquisition of Enzymatics in 2015 and was later acquired by Invitae in 2021) and Massachusetts General Hospital (MGH) sued QIAGEN for patent infringement. In August 2021, a federal jury ruled that QIAGEN infringed two patents owned by ArcherDX and awarded damages of $4.7 million which were accrued in 2021 and, as of December 31, 2023 , are included in other long-term liabilities in the accompanying consolidated balance sheet. We filed an appeal in August 2023 after the verdict was entered. Bio-Rad Laboratories, Inc. In April 2022, QIAGEN filed a lawsuit in a U.S. federal court against Bio-Rad Laboratories, Inc. (Bio-Rad) seeking a declaratory judgment of non-infringement of certain Bio-Rad patents related to digital PCR technology. In July 2023, the parties agreed to a settlement that provided for a cross-licensing agreement granting each company mutual rights to their respective digital PCR technologies. Other Litigation Matters For all other matters, a t otal of $4.8 million is accrued as of December 31, 2023 in accrued and other current liabilities. The estimated range of possible losses for these other matters as of December 31, 2023 is between $4.0 million and $10.1 million . Based on the facts known to QIAGEN and after consultation with legal counsel, management believes that such litigation will not have a material adverse effect on our financial position or results of operations above the amounts accrued. However, the outcome of these matters is ultimately uncertain. Any settlements or judgments against us in excess of management's expectations could have a material adverse effect on our financial position, results of operations or cash flows.

Segment Information

Segment Information	12 Months Ended
	Dec. 31, 2023
Segment Reporting Information, Additional Information [Abstract]
Segment Information	Segment Information We operate as one operating segment. We have a common basis of organization, we make decisions with regards to business operations and resource allocation based on evaluations of QIAGEN as a whole and our products and services are offered globally. Product category and geographic information follows below. Product Category Information Refer to Note 4 "Revenue" for disaggregation of revenue based on product categories, product type and customer class. Geographical Information Net sales are attributed to countries based on the location of the customer. Our primary manufacturing facilities are located in Germany, China, and the United States and supply products to customers as well as to our subsidiaries in other countries. The intercompany portions of such net sales are excluded to derive consolidated net sales. No single customer represents more than ten percent of consolidated net sales. Our country of domicile is the Netherlands, which reported net sales of $20.3 million , $31.5 million and $28.3 million for the years ended 2023 , 2022 and 2021 , respectively, and these amounts are included in the line item Europe, Middle East and Africa in the table below. Net sales by geographical location for the years ended December 31, 2023 , 2022 and 2021 are as follows: (in thousands) 2023 2022 2021 Americas: United States $935,281 $909,616 $909,690 Other Americas 84,774 88,139 97,686 Total Americas 1,020,055 997,755 1,007,376 Europe, Middle East and Africa 624,573 733,469 814,417 Asia Pacific, Japan and Rest of World 320,683 410,294 429,864 Total net sales $1,965,311 $2,141,518 $2,251,657 Long-lived assets include property, plant and equipment. The Netherlands, which is included in the balances for Europe in the table below, reported long-lived assets of $1.3 million and $1.1 million as of December 31, 2023 and 2022 , respectively. Long-lived assets by geographical location as of December 31, 2023 and 2022 are as follows: (in thousands) 2023 2022 Americas: United States $164,865 $161,645 Other Americas 3,657 2,997 Total Americas 168,522 164,642 Europe, Middle East and Africa: Germany 496,386 400,009 Other Europe, Middle East and Africa 76,306 75,045 Total Europe, Middle East and Africa 572,692 475,054 Asia Pacific, Japan and Rest of World 23,823 22,474 Total long-lived assets $765,037 $662,170

Share-Based Compensation

Share-Based Compensation	12 Months Ended
	Dec. 31, 2023
Share-Based Payment Arrangement, Recognized Amount [Abstract]
Share-Based Compensation	Share-Based Compensation We adopted the QIAGEN N.V. Amended and Restated 2005 Stock Plan (the 2005 Plan) in 2005 and the QIAGEN N.V. 2014 Stock Plan (the 2014 Plan) in 2014. The 2005 Plan expired by its terms in April 2015 and no further awards will be granted under the 2005 Plan. The 2014 Plan expires in May 2024. The QIAGEN N.V. 2023 Stock Plan (the 2023 Plan) was approved at the June 2023 Annual General Meeting and at December 31, 2023 , we had approximately 20.9 million Common Shares reserved and available for issuance under the 2005, 2014, and 2023 Plans. The plans allow for the granting of stock rights and incentive stock options, as well as non-qualified options, stock grants and stock-based awards, generally with terms of up to 3 years , with previous grants through 2020 having terms of 5 years subject to earlier termination in certain situations. The vesting and exercisability of certain stock rights will be accelerated in the event of a Change of Control, as defined in the plans. All option grants were at the market value on the grant date or at a premium above the closing market price on the grant date. We issue Treasury S hares to satisfy option exercises and award releases. Stock Units Stock units represent rights to receive Common Shares at a future date and include restricted stock units which are subject to time-vesting only and performance stock units which include performance conditions in addition to time-vesting. The final number of performance stock units earned is based on the performance achievement which for some grants can reach up to 200% of the granted shares. There is no exercise price and the fair market value at the time of the grant is recognized over the requisite vesting period. The fair market value is determined based on the number of stock units granted and the market value of our shares on the grant date. Pre-vesting forfeitures were estimated to be approximately 6.0% . At December 31, 2023 , there was $59.8 million remaining in unrecognized compensation cost including estimated forfeitures related to these awards, which is expected to be recognized over a weighted average period of 1.34 years . The weighted average grant date fair value of stock units granted during the years ended December 31, 2023 , 2022 and 2021 was $44.37 , $45.49 and $48.77 , respectively. The total fair value of stock units that vested during the years ended December 31, 2023 , 2022 and 2021 was $39.4 million , $55.8 million and $52.6 million , respectively. A summary of stock units as of December 31, 2023 and changes during the year are presented below. Stock units Number of stock units (in thousands) Weighted average contractual term (in years) Aggregate intrinsic value (in thousands) Outstanding at January 1, 2023 3,771 Granted 1,185 Vested (864) Forfeited (77) Outstanding at December 31, 2023 4,015 1.34 $174,364 Vested and expected to vest at December 31, 2023 3,744 1.29 $162,610 We net share settle for the tax withholding upon the vesting of awards. Shares are issued on the vesting dates net of the applicable statutory tax withholding to be paid by us on behalf of our employees. As a result, fewer shares are issued than the number of stock units outstanding. We record a liability for the tax withholding to be paid by us as a reduction to treasury shares. St ock Options We have not granted stock options since 2013. A summary of the status of employee stock options as of December 31, 2023 and changes during the year then ended is presented below. Stock options Number of shares (in thousands) Weighted average exercise price Outstanding at January 1, 2023 9 $18.68 Exercised (9) $18.68 Outstanding at December 31, 2023 — $— The total intrinsic value of options exercised was $0.2 million in each of the years ended December 31, 2023 and 2022 and $14.4 million for the year ended December 31, 2021 . The actual tax benefit for the tax deductions from option exercises totaled $0.1 million in each of the years ended December 31, 2023 and 2022 and $2.2 million during the year ended December 31, 2021 . At December 31, 2023 , there was no unrecognized share-based compensation expense related to employee stock option awards. There were no options outstanding at December 31, 2023 . At December 31, 2022 and 2021 , 9 thousand and 18 thousand options were exercisable at a weighted average price of $18.68 and $17.79 per share, respectively. Compensation Expense Share-based compensation expense before taxes for the years ended December 31, 2023 , 2022 and 2021 totaled approximately $47.1 million , $49.5 million and $38.4 million , respectively, as shown in the table below. (in thousands) 2023 2022 2021 Cost of sales $3,296 $2,577 $40 Research and development 7,484 6,504 4,909 Sales and marketing 14,495 16,076 13,630 General and administrative 21,825 24,350 19,812 Share-based compensation expense 47,100 49,507 38,391 Less: Income tax benefit (1) 11,035 10,703 8,956 Share-based compensation expense, after tax $36,065 $38,804 $29,435 (1) Does not include the excess tax benefit realized for the tax deductions of the share-based payment arrangements which totaled $1.3 million , $2.7 million and $6.5 million , respectively, for the years ended December 31, 2023 , 2022 and 2021 . The lower share-based compensation expense in cost of sales in 2021 resulted from forfeitures upon the separation of an executive who received a cash severance payment in lieu of accelerated vesting upon separation per the terms of the arrangement. The cash separation accrual offset the share-based compensation forfeiture.

Employee Benefits

Employee Benefits	12 Months Ended
	Dec. 31, 2023
Retirement Benefits [Abstract]
Employee Benefits	Employee Benefits We maintain various benefit plans, including defined contribution and defined benefit plans. Our U.S. defined contribution plan is qualified under Section 401(k) of the Internal Revenue Code and covers substantially all U.S. employees. Participants may contribute a portion of their compensation not exceeding a limit set annually by the Internal Revenue Service. This plan includes a provision for us to match a portion of employee contributions. Total expenses under the 401(k) plans were $4.5 million for each of the years ended December 31, 2023 and 2022 and $4.3 million for the year ended December 31, 2021 . We also have a defined contribution plan which covers certain executives. We make matching contributions up to an established maximum. Matching contributions made to the plan, and expensed, totaled approximately $0.1 million for each of the years ended December 31, 2023 and 2022 and $0.2 million for the year ended December 31, 2021 . We have seven defined benefit, non-contributory retirement or termination plans that cover certain employees in Germany, France, Italy, Japan, Poland, Philippines and the United Arab Emirates. These defined benefit plans provide benefits to covered individuals satisfying certain age and/or service requirements. For certain plans, we calculate the vested benefits to which employees are entitled if they separate immediately. The benefits accrued on a pro-rata basis during the employees’ employment period are based on the individuals’ salaries, adjusted for inflation. All defined benefit plans are unfunded. The liability under the defined benefit plans totaled $7.4 million and $7.2 million as of December 31, 2023 and 2022 , respectively, and is included as a component of other long-term liabilities on the accompanying consolidated balance sheets.

Related Party Transactions

Related Party Transactions	12 Months Ended
	Dec. 31, 2023
Related Party Transactions [Abstract]
Related Party Transactions	Related Party Transactions From time to time, we have transactions with other companies in which we hold an interest as summarized in the table below. Net sales to related parties for the years ended December 31, 2023 , 2022 and 2021 are as follows: (in thousands) 2023 2022 2021 Net sales $9,039 $8,474 $9,089 As of December 31, 2023 and 2022 , balances with related parties are as follows: (in thousands) 2023 2022 Accounts receivable $2,890 $5,136 Prepaid expenses and other current assets $78 $11,929 Accounts payable $700 $2,708 Accrued and other current liabilities $2,893 $3,518 Prepaid expenses and other current assets include loan receivables and supplier advances from companies with which we have an investment or partnership interest. As of December 31, 2022 , prepaid expenses and other current assets included a $10.6 million convertible note from Ellume Limited, Australia, which bears interest at 10% and was due on December 31, 2022 . As of December 31, 2022 , we retained the loan receivable, while fully reserved, as we awaited the outcome of voluntary administration and any creditor arrangement. During 2023 , we had no possibility of collection from Ellume and no expectation of any recovery of the defaulted amount. Accordingly, the loan receivable was fully written off a gainst the reserve in 2023. Additional financial impacts of these proceedings with this related party for the fiscal year ended December 31, 2022 included a $4.6 million write off on advances to suppliers and a $12.8 million impairment loss on intangible assets, both recognized in restructuring, acquisition, integration and other, net in the accompanying consolidated statement of income. Refer to Note 11 "Goodwill and Intangible Assets."

Subsequent Event

Subsequent Event	12 Months Ended
	Dec. 31, 2023
Subsequent Events [Abstract]
Subsequent Event	Subsequent Event In January 2024, we completed a synthetic share repurchase that combined a direct capital repayment with a reverse stock split as discussed in Note 18 "Equity."

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2023
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The accompanying consolidated financial statements were prepared in accordance with U.S. generally accepted accounting principles (GAAP) and all amounts are presented in U.S. dollars rounded to the nearest thousand, unless otherwise indicated. As of April 1, 2022, the results of our subsidiary in Türkiye are reported under highly inflationary accounting as the prior three-years cumulative inflation rate exceeded 100 percent. QIAGEN has a subsidiary in Moscow, Russia. Due to uncertainties related to the war in Ukraine, and although not material to our consolidated results of operations, during the year ended December 31, 2022, we recorded a combination of credit losses, write-offs and impairments related to our business in Russia totaling $4.0 million . These charges are included in the line item restructuring, acquisition, integration and other, net in the accompanying consolidated statement of income . We have suspended activities in Russia and also with our former commercial partner in Belarus. We undertake acquisitions to complement our own internal product development activities. In January 2023, we acquired Verogen, Inc., a leader in the use of next-generation sequencing (NGS) technologies to drive the future of human identification (HID) and forensic investigation located in San Diego, California. In May 2022, we acquired BLIRT S.A., a supplier of standardized and customized solutions for proteins and enzymes as well as molecular biology reagents located in Gdańsk, Poland. At the acquisition dates, all the assets acquired and liabilities assumed were recorded at their respective fair values and our consolidated results of operations include the operating results from the acquired companies from the acquisition dates. These acquisitions were not significant to the overall consolidated financial statements.
Adoption of New Accounting Standards and New Accounting Standards Not Yet Adopted	Adoption of New Accounting Standards in 2023 No adoption of new accounting standards in 2023. Adoption of New Accounting Standards in 2022 ASU 2021-08, Accounting for Contract Assets and Contract Liabilities from Contracts with Customers, creates an exception to the recognition and measurement principles in ASC 805, Business Combinations. The amendments require an acquirer to use the guidance in ASC 606, Revenue from Contracts with Customers, rather than using fair value, when recognizing and measuring contract assets and contract liabilities related to customer contracts assumed in a business combination. We early adopted ASU 2021-08 on January 1, 2022. The amended guidance applies on a prospective basis to business combinations that occur after the adoption date. Adoption of New Accounting Standards in 2021 ASU 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes, removed certain exceptions for recognizing deferred taxes for investments, performing intraperiod tax allocations and calculating income taxes in interim periods. The ASU also adds guidance to reduce complexity in certain areas, including recognizing deferred taxes for tax goodwill and allocating income taxes to members of a consolidated group. We adopted the ASU on the effective date of January 1, 2021 and the adoption of this guidance did not have an impact on our consolidated financial statements on the date of adoption. ASU 2020-06, Debt-Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging—Contracts in Entity’s Own Equity (Subtopic 815-40): Accounting for Convertible Instruments and Contracts in an Entity’s Own Equity, reduced the number of accounting models for convertible instruments. The ASU also amended diluted earnings per share (EPS) calculations for convertible instruments, which will result in more dilutive EPS results, and also amended the requirements for a contract (or embedded derivative) that is potentially settled in an entity’s own shares to be classified in equity. ASU 2020-06 was effective for annual periods beginning on January 1, 2022, with earlier adoption on January 1, 2021 permitted. We adopted ASU 2020-06 early on January 1, 2021 and this resulted in a decrease of $54.1 million to additional paid-in capital and an increase of $0.3 million to retained earnings for the conversion feature to the liability for our 2027 Convertible Notes further discussed in Note 16 "Debt." New Accounting Standards Not Yet Adopted The followi ng new FASB Accounting Standards Updates were not yet adopted as of December 31, 2023 : ASU 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures was issued in response to stakeholder requests for more decision-useful information about reportable segments. The amendments in ASU 2023-07 improve reportable segment disclosure requirements through enhanced disclosures. This ASU does not change how a public entity identifies its operating segments, aggregates those operating segments or applies the quantitative thresholds to determine reportable segments. This ASU is effective for fiscal years beginning after Decembe r 15, 20 23, and early adoption is permitted. We will adopt the new disclosures retrospectively to all prior periods presented in the financial statements beginning with the annual reporting for the year ended December 31, 2024. ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures enhances annual income tax disclosures to address investor requests for more information about the tax risks and opportunities present in an entity's worldwide operations. The two primary enhancements disaggregate existing income tax disclosures related to the effective tax rate reconciliation and income taxes paid. This ASU is effective for annual periods beginning after December 15, 2024, and early adoption is permitted. We will adopt the new disclosures prospectively beginning with the annual reporting for the year ended December 31, 2025.
Principles of Consolidation	Principles of Consolidation The consolidated financial statements include the accounts of QIAGEN N.V. and its wholly-owned subsidiaries. All significant intercompany accounts and transactions have been eliminated. Investments in either common stock or in- substance common stock of companies where we exercise significant influence over the operations but do not have control, and where we are not the primary beneficiary, are accounted for using the equity method. All other investments are accounted for as discussed under " Non-Marketable Investments" below. When there is a portion of equity in an acquired subsidiary not attributable, directly or indirectly, to the Company, we record the fair value of the noncontrolling interests at the acquisition date and classify the amounts attributable to noncontrolling interests separately in equity in the consolidated financial statements. Any subsequent changes in the Company's ownership interest while the Company retains its controlling financial interest in its subsidiary are accounted for as equity transactions.
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities and disclosure of contingencies at the date of the financial statements as well as the reported amounts of revenues and expenses during the reporting period. While changing conditions in our global environment present additional uncertainty, we continue to use the best information available to form our estimates. Actual results could differ from those estimates.
Concentrations of Risk	Concentrations of Risk We buy materials for products from many suppliers and are not dependent on any one supplier or group of suppliers for the business as a whole. However, key components of certain products, including certain instrumentation components and chemicals, are available only from a single source. If supplies from these vendors were delayed or interrupted for any reason, we may not be able to obtain these materials timely or in sufficient quantities in order to produce certain products and sales levels could be negatively affected. Additionally, our customers include researchers at pharmaceutical and biotechnology companies, academic institutions, and government and private laboratories. Fluctuations in the research and development budgets of these researchers and their organizations for applications in which our products are used could have a significant effect on the demand for our products. The financial instruments used in managing our foreign currency, equity and interest rate exposures have an element of risk in that the counterparties may be unable to meet the terms of the agreements. We attempt to minimize this risk by limiting the counterparties to a diverse group of highly rated international financial institutions. The carrying values of our financial instruments incorporate the non-performance risk by using market pricing for credit risk. However, we have no reason to believe that any counterparties will default on their obligations. In order to minimize our exposure with any single counterparty, we have entered into master agreements which allow us to manage the exposure with the respective counterparty on a net basis. Other financial instruments that potentially subject us to concentrations of credit risk are cash and cash equivalents, short- term investments, and accounts receivable. We attempt to minimize the risks related to cash and cash equivalents and short-term investments by dealing with highly rated financial institutions and investing in a broad and diverse range of financial instruments. We have established guidelines related to credit quality and maturities of investments intended to maintain safety and liquidity. Concentration of credit risk with respect to accounts receivable is limited due to a large and diverse customer base which is dispersed over different geographic areas. Allowances are maintained for potential credit losses and such losses have historically been within expected ranges.
Foreign Currency Translation	Foreign Currency Translation Our reporting currency is the U.S. dollar and the functional currencies of our subsidiaries are generally the local currency of the respective countries in which they are headquartered. All amounts in the financial statements of entities whose functional currency is not the U.S. dollar, except for Türkiye (which became hyperinflationary and reports in U.S. dollars), are translated into U.S. dollar equivalents at exchange rates as follows: (1) assets and liabilities at period-end rates, (2) income statement accounts at average exchange rates for the period, and (3) components of equity at historical rates. Translation gains or losses are recorded in equity, and transaction gains and losses are reflected in net income as a component of other (expense) income, net . Realized gains or losses on the value of derivative contracts entered into to hedge the exchange rate exposure of receivables and payables are also included in net income as a component of other (expense) income, net .
Segment Information	Segment Information We determined that we operate as one operating segment in accordance with the Financial Accounting Standards Board (FASB) Accounting Standards Codification (ASC) Topic 280, Segment Reporting. Our chief operating decision maker (CODM) makes decisions based on the Company as a whole. In addition, we have a common basis of organization and types of products and services which derive revenues and consistent product margins. Accordingly, we operate and make decisions as one reporting unit.
Revenue Recognition and Shipping and Handling Income and Costs	Revenue Recognition We recognize revenue when control of promised goods or services transfers to our customers in an amount that reflects the consideration that is expected to be received in exchange for those goods or services. The majority of our sales revenue is recognized when products are shipped to the customers, at which point control transfers. Shipping and Handling Income and Costs Shipping and handling costs charged to customers are recorded as revenue in the period that the related product sales revenue is recorded. Associated costs of shipping and handling are included in sales and marketing expenses.
Warranty	Warranty We provide warranties on our products against defects in materials and workmanship for a period of one year . A provision for estimated future warranty costs is recorded in cost of sales at the time product revenue is recognized. Product warranty obligations are included in accrued and other current liabilities in the accompanying consolidated balance sheets.
Research and Development	Research and Development Research and product development costs are expensed as incurred. Research and development expenses consist primarily of salaries and related expenses, facility costs, and amounts paid to contract research organizations and laboratories for the provision of services and materials as well as costs for internal use or clinical trials.
Government Grants	Government Grants We recognize government grants when there is reasonable assurance that all conditions will be complied with and the grant will be received. Our government grants generally represent subsidies for specified activities and are therefore recognized when earned as a reduction of the expenses recorded for the activity that the grants are intended to compensate. Thus, when the grant relates to research and development expense, the grant is recognized over the same period that the related costs are incurred. Otherwise, amounts received under government grants are recorded as liabilities in the balance sheet. When the grant relates to an asset, the nominal amount of the grant is deducted from the carrying amount of the asset and recognized over the same period that the related asset is depreciated.
Borrowing Costs	Borrowing Costs Borrowing costs directly attributable to the acquisition, construction or production of an asset that takes a substantial period of time to prepare for its intended use or sale are capitalized as part of the cost of the respective assets (qualifying asset) when such borrowing costs are significant. All other borrowing costs are expensed in the period they occur.
Advertising Costs	Advertising Costs The costs of advertising are expensed as incurred and are included as a component of sales and marketing expense.
General and Administrative, Restructuring, Acquisition, Integration and Other	General and Administrative General and administrative expenses primarily represent the costs required to support administrative infrastructure. These costs include licensing costs in connection with continued investments in information technology improvements, including cyber security, across the organization as well as personnel in administrative functions. Restructuring, Acquisition, Integration and Other We i ncur indirect acquisition and business integration costs in connection with business combinations which are expensed when incurred. These costs represent incremental costs that we believe would not have been incurred absent the business combinations. Major components of these costs include consulting and related fees incurred to integrate or restructure the acquired operations, payroll and related costs for employees remaining with the Company on a transitional basis and public relations, advertising and media costs for re-branding of the combined organization. Restructuring costs include personnel costs (principally termination benefits) as well as contract and other costs, primarily contract termination costs. Termination benefits are accounted for in accordance with FASB ASC Topic 712, Compensation - Nonretirement Postemployment Benefits, and are recorded when it is probable that employees will be entitled to benefits and the amounts can be reasonably estimated. Estimates of termination benefits are based on the frequency of past termination benefits, the similarity of benefits under the current plan and prior plans, and the existence of statutory required minimum benefits. Contract and other costs are accounted for in accordance with FASB ASC Topic 420, Exit or Disposal Cost Obligations and are recorded when the liability is incurred. Additionally, expenses incurred may also include costs that are an integral component of, and are directly attributable to, restructuring activities which do not qualify as exit and disposal costs, such as intangible asset impairments and other asset related write-offs. The specific restructuring measures and associated estimated costs are based on management's best business judgment under the existing circumstances at the time the estimates are made. If future events require changes to these estimates, such adjustments will be reflected in the period of the revised estimate.
Income Taxes	Income Taxes We account for income taxes under the liability method. Under this method, total income tax expense is the amount of income taxes expected to be payable for the current year plus the change from the beginning of the year for deferred tax assets and liabilities established for the expected future tax consequences resulting from differences between the financial statement carrying amount and the tax basis of assets and liabilities. Deferred tax assets and/or liabilities are determined by multiplying the differences between the financial statement carrying amount and the tax bases of assets and liabilities by the enacted tax rates expected to be in effect when such differences are reversed or settled. Deferred tax assets are reduced by a valuation allowance to the amount more likely than not to be realized. The effect on deferred taxes of a change in tax rates is recognized in income in the period that includes the enactment date. The financial statement effects of a tax position are initially recognized in the financial statements when it is more likely than not that the position will be sustained upon examination by the taxing authorities. Such tax positions are initially and subsequently measured as the largest amount of tax benefit that is greater than 50 percent likely of being realized upon settlement with the taxing authority using the cumulative probability method, assuming the taxing authority has full knowledge of the position and all relevant facts. Our policy is to recognize interest accrued related to income taxes in interest expense and penalties related to income taxes within the income tax expense.
Derivative Instruments	Derivative Instruments We enter into derivative financial instrument contracts to minimize the variability of cash flows or income statement impact associated with the anticipated transactions being hedged or to hedge fluctuating interest rates. As changes in foreign currencies or interest rates impact the value of anticipated transactions, the fair value of the forward or swap contracts also changes, offsetting foreign currency or interest rate fluctuations. Derivative instruments are recorded on the balance sheet at fair value. Changes in fair values of derivatives are recorded in current earnings or other comprehensive income (loss), depending on whether a derivative is designated as part of a hedge transaction.
Share-Based Payments	Share-Based Payments Compensation costs for all share-based payments are recorded based on the grant date fair value, less an estimate for pre- vesting forfeitures, recognized in expense over the service period using an accelerated method. Forfeiture Rate - This is the estimated percentage of grants that are expected to be forfeited or canceled on an annual basis before becoming fully vested. We estimated the forfeiture rate based on historical forfeiture experience. Restricted Stock Units and Performance Stock Units - Restricted stock units and performance stock units represent rights to receive Common Shares at a future date. The fair market value of restricted and performance stock units is determined based on the number of stock units granted and the fair market value of our shares on the grant date. The fair market value at the time of the grant, less an estimate for pre-vesting forfeitures, is recognized in expense over the vesting period. At each reporting period, the estimated performance achievement of the performance stock units is assessed and any change in the estimated achievement is recorded on a cumulative basis in the period of adjustment.
Cash and Cash Equivalents	Cash and Cash Equivalents Cash and cash equivalents consist of cash on deposit in banks and other cash invested temporarily in various instruments that are short-term and highly liquid with an original maturity of less than three months at the date of purchase. Cash
Short-Term Investments	Short-Term Investments Short-term investments include cash investments with original maturities of more than three months which are classified as “available for sale” and stated at fair value, which is equivalent to the amortized cost, in the accompanying consolidated balance sheet. Interest income is accrued when earned and changes in fair market values are reflected in other (expense) income, net . The amortization of premiums and accretion of discounts to maturity arising from acquisition are included in interest income. A decline in fair value that is judged to be other-than-temporary is accounted for as a realized loss and the write-down is included in the consolidated statements of income. Realized gains and losses, determined on a specific identification basis on the sale of short-term investments, are included in other (expense) income, net . Short-term investments consisting of marketable equity securities are reported at fair value with gains and losses recorded in earnings.
Fair Value of Financial Instruments	Fair Value of Financial Instruments The carrying amount of cash and cash equivalents, notes receivable, accounts receivable, accounts payable and accrued liabilities approximate their fair values because of the short maturities of those instruments. The carrying value of our variable rate debt and leases approximates their fair values because of the short maturities and/or interest rates which are comparable to those available to us on similar terms. The fair values of the zero coupon convertible debt and the Cash Convertible Notes are based on an estimation using available over-the-counter market information. The fair values of the German Private Placement are based on an estimation using changes in the euro swap rates. Assets and liabilities are measured at fair value according to a three-tier fair value hierarchy which prioritizes the inputs used in measuring fair value as follows: • Level 1. Observable inputs, such as quoted prices in active markets; • Level 2. Inputs, other than the quoted price in active markets, that are observable either directly or indirectly; and • Level 3. Unobservable inputs in which there is little or no market data, which require the reporting entity to develop its own assumptions.
Accounts Receivable, Loans and Other Receivables and Allowance for Credit Losses	Accounts Receivable, Loans and Other Receivables and Allowance for Credit Losses Our accounts receivable consist of unsecured customer obligations and we are at risk to the extent such amounts become uncollectible. We maintain allowances for credit losses resulting from the expected failure or inability of our customers to make required payments. We recognize the allowance for expected credit losses at inception and reassess regularly considering historical experience with bad debts, the aging of the receivables, credit quality of the customer base, current economic conditions and other reasonable and supportable expectations for future conditions, if applicable. Once a receivable is determined to be uncollectible, the balance is charged against the allowance. We sell our products worldwide through sales subsidiaries and distributors. There is no concentration of credit risk with respect to trade accounts receivable as we have a large number of internationally dispersed customers. Trade accounts receivable are non-interest bearing and mostly have payment terms of 30-90 days. For all years presented, no single customer represented more than ten percent of accounts receivable or consolidated net sales.
Inventories	Inventories Inventories are stated at the lower of cost or net realizable value, determined on either a weighted average cost basis or a standard cost basis which is regularly adjusted to actual. Inventories include material, direct labor and overhead costs and are reduced for estimated obsolescence.
Property, Plant and Equipment	Property, Plant and Equipment Property, plant and equipment are stated at cost less accumulated amortization. Capitalized internal-use software costs include only those direct costs associated with the actual development or acquisition of computer software solely to meet internal needs and cloud-based applications to deliver our service and comprise costs associated with the design, coding, installation and testing of the system. Costs associated with preliminary development, such as the evaluation and selection of alternatives, as well as training, maintenance and support are expensed as incurred. Costs for software to be sold, leased or otherwise marketed that are related to the conceptual formulation and design are expensed as incurred. Costs incurred to produce software products and the software components of products to be sold, leased or marketed after technological feasibility is established are capitalized and amortized in accordance with the accounting standards for the costs of software to be sold, leased, or otherwise marketed. Depreciation is computed using the straight-line method over the estimated useful lives of the a sset s . Amortization of leasehold improvements is computed on a straight-line basis over the lesser of the remaining life of the lease or the estimated useful life of the improvement asset. We have a policy of capitalizing expenditures that materially increase assets’ useful lives and charging ordinary maintenance and repairs to operations as incurred. When property or equipment is disposed of, the cost and related accumulated depreciation and amortization are removed from the accounts and any gain or loss is included in earnings.
Company as a lessee	Leases At inception of a contract, the Company assesses whether a contract is, or contains, a lease. A contract is, or contains, a lease if the contract conveys the right to control the use of an identified asset for a period of time in exchange for consideration. Company as a lessee Leases are recognized as a right-of-use asset and a corresponding liability at the date at which the leased asset is available for use or at the lease commencement date . Leases are classified as finance or operating based on the criteria according to ASC 842 Leases, with classification affecting the pattern of expense recognition and amortization of the right- of-use asset in the income statement. Assets and liabilities arising from a lease are initially measured on a present value basis. Lease liabilities include the net present value of the following lease payments: • fixed payments, including in-substance fixed payments, less any lease incentives received; • variable lease payments that are based on an index or a rate; • amounts expected to be payable to the lessee under residual value guarantees; • the exercise price of a purchase option if the lessee is reasonably certain to exercise that option; and • payments of penalties for terminating the lease, if the lease term reflects the lessee exercising that option. The lease payments are discounted using the interest rate implicit in the lease. If that rate cannot be determined, the lessee's incremental borrowing rate at the lease commencement date is used, which is based on an assessment of interest rates the company would have to pay to borrow funds, including the consideration of factors such as the nature of the asset and location, collateral, market terms and conditions, as applicable. After the commencement date, the amount of lease liabilities is increased to reflect the accretion of interest and reduced by the lease payments made. Each lease payment is allocated between the liability and finance charges. The interest element of the finance cost is recognized in the income statement over the lease period so as to produce a constant periodic rate of interest on the remaining balance of the liability for each period. In addition, the carrying amount of lease liabilities is remeasured if there is a modification, a change in the lease term, a change in the in-substance fixed lease payments or a change in the assessment to purchase the underlying asset. Right-of-use assets are measured at cost comprising the following: • the amount of the initial measurement of the lease liability; • any lease payments made at or before the commencement date less any lease incentives received; • any initial direct costs; and • restoration costs. The company determines the lease term as the non-cancellable term of the lease, together with any periods covered by an option to extend the lease if it is reasonably certain to be exercised, or any periods covered by an option to terminate the lease, if it is reasonably certain not to be exercised. The company applies judgment in evaluating whether it is reasonably certain to exercise the option to renew. That is, it considers all relevant factors that create an economic incentive for it to exercise the renewal. The company leases various items of real estate, vehicles and other equipment. Rental contracts are typically made for fixed periods but may have extension or termination options.
Company as a lessor	Leases At inception of a contract, the Company assesses whether a contract is, or contains, a lease. A contract is, or contains, a lease if the contract conveys the right to control the use of an identified asset for a period of time in exchange for consideration. Company as a lessor When the company acts as a lessor, it determines at lease inception whether a lease is a finance lease or an operating lease. Leases in which the company does not transfer substantially all the risks and rewards incidental to ownership of an asset are classified as operating leases. The company recognizes lease payments received under operating leases as income on a straight-line basis over the lease terms in the Income Statement.
Business Combinations	Business Combinations We include the results of operations of the businesses that we acquire as of the acquisition date. The purchase price of an acquired business is allocated to the individual assets acquired and liabilities assumed based on their fair values at the date of acquisition. Those fair values are determined using income, cost and market approaches, most of which depend upon significant inputs that are not observable in the market, or Level 3 measurements. The excess of purchase price over the fair value of identifiable assets acquired and liabilities assumed is recorded as goodwill. Acquisition-related expenses are expensed as incurred. The purchase price for some business combinations includes consideration that is contingent on the achievement of net sales or earnings targets by the acquired business. Contingent consideration is measured initially and on a recurring basis at fair value. Payments to settle the acquisition date fair value of contingent consideration are presented as financing activities on the statement of cash flows; any payments in excess of the acquisition date fair value are presented as operating activities.
Acquired Intangibles and Goodwill	Acquired Intangibles and Goodwill Acquired intangibles with future uses are carried at cost less accumulated amortization and consist of licenses to technology held by third parties and other acquired intangible assets. Amortization related to patents are computed over the estimated useful life of the underlying patent, which has historically ranged from 1 to 20 years. Purchased intangible assets acquired in business combinations, other than goodwill, are amortized over their estimated useful lives unless these lives are determined to be indefinite. Intangibles are assessed for recoverability considering the contract life and the period of time over which the intangible will contribute to future cash flow. The unamortized cost of intangible assets, where cash flows are independent and identifiable from other assets, is evaluated periodically and adjusted, if necessary, if events and circumstances indicate that a decline in value below the carrying amount has occurred. Amortization expense related to developed technology and patent and license rights which have been acquired in a business combination is included in cost of sales. Amortization of trademarks, customer base and non-compete agreements which have been acquired in a business combination is recorded in operating expense under acquisition-related intangible amortization. Amortization expenses of intangible assets not acquired in a business combination are recorded within either the cost of sales, research and development or sales and marketing line items based on the use of the asset. We dispose the gross carrying amount and accumulated amortization of fully amortized intangible assets from historic business combinations once they are considered fully integrated into our business. The fair value of in-process research and development (IPR&D) acquired in a business combination is capitalized as an indefinite-lived intangible asset until completion or abandonment of the related research and development activities. IPR&D is tested for impairment annually or when any event or circumstance indicates that the fair value may be below the carrying value. If and when research and development is complete, the associated asset is amortized over the estimated useful life. Goodwill represents the difference between the purchase price and the estimated fair value of the net assets acquired arising from business combinations. Goodwill is subject to impairment tests annually or earlier if indicators of potential impairment exist. We have elected to perform our annual test for indications of impairment as of October 1st of each year.
Non-Marketable Investments	Non-Marketable Investments We have investments in non-marketable equity securities issued by privately held companies. These investments are included in other long-term assets in the accompanying consolidated balance sheets. Non-marketable investments through which we exercise significant influence but do not have control are accounted for using the equity method, which requires that we recorded our share of unrealized gains and losses on our equity method investments in other (expense) income, net. We monitor for changes in circumstances that may require a reassessment of the level of influence. Our non- marketable equity securities not accounted for under the equity method are accounted for under the measurement alternative. Under the measurement alternative, the carrying value is measured at cost, less any impairment, plus or minus changes resulting from observable price changes in orderly transactions for identical or similar investments of the same issuer. Adjustments are determined primarily based on a market approach as of the transaction date. Investments are evaluated periodically, or when impairment indicators are noted, to determine if declines in value are other-than-temporary. In making that determination, we consider all available evidence relating to the realizable value of a security. This evidence includes, but is not limited to, the following: • adverse financial conditions of a specific issuer, segment, industry, region or other variables; • the length of time and the extent to which the fair value has been less than cost; and • the financial condition and near-term prospects of the issuer. We consider whether the fair values of any of our non-marketable investments have declined below their carrying value whenever adverse events or changes in circumstances indicate that recorded values may not be recoverable. If any such decline is considered to be other-than-temporary (based on various factors, including historical financial results, product development activities and the overall health of the affiliate’s industry), then a write-down of the investment would be recorded in operating expense to its estimated fair value. Investment impairments recorded during the year ended December 31, 2023 are discussed in Note 10 "Investments."
Variable Interest Entities	Variable Interest Entities We evaluate at the inception of each arrangement whether we have made an investment in an entity that is considered a variable interest entity (VIE) or if we hold other variable interests in an arrangement that is considered a variable interest entity. We consolidate VIEs when we are the primary beneficiary. The primary beneficiary of a VIE is the party that meets both of the following criteria: (1) has the power to make decisions that most significantly affect the economic performance of the VIE; and (2) has the obligation to absorb losses or the right to receive benefits that in either case could potentially be significant to the VIE. Periodically, we assess whether any changes in our interest or relationship with the entity affect our determination of whether the entity is still a VIE and, if so, whether we are the primary beneficiary. If we are not the primary beneficiary in a VIE, we account for the investment or other variable interests in a VIE as an investment in a non- marketable investment or in accordance with other applicable GAAP.
Impairment of Long-Lived Assets	Impairment of Long-Lived Assets We review our long-lived assets for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset or a group of assets may not be recoverable. We consider, amongst other indicators, a history of operating losses or a change in expected sales levels to be indicators of potential impairment. Assets are grouped and evaluated for impairment at the lowest level for which there are identifiable cash flows that are largely independent of the cash flows of other groups of assets. If an asset is determined to be impaired, the loss is measured as the amount by which the carrying amount of the asset exceeds the fair value as determined by applicable market prices, when available. When market prices are not available, we generally measure fair value by discounting projected future cash flows of the asset. Considerable judgment is necessary to estimate discounted future cash flows. Accordingly, actual results could differ from such estimates.

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	12 Months Ended
	Dec. 31, 2023
Accounting Policies [Abstract]
Exchange Rates of Key Currencies	The exchange rates of key currencies were as follows: (USD equivalent for one) Closing rate at December 31, Annual average rate 2023 2022 2023 2022 2021 Euro (EUR) 1.1050 1.0666 1.0814 1.0542 1.1832 Pound Sterling (GBP) 1.2715 1.2026 1.2435 1.2376 1.3758 Swiss Franc (CHF) 1.1933 1.0832 1.1133 1.0486 1.0940 Japanese Yen (JPY) 0.0071 0.0076 0.0071 0.0077 0.0091 Chinese Yuan (CNY) 0.1408 0.1450 0.1413 0.1489 0.1550
Cash and Cash Equivalents	Cash and cash equivalents as of December 31, 2023 and 2022 were as follows: (in thousands) 2023 2022 Cash at bank and on hand $87,380 $122,314 Money market funds 481,360 289,394 Commercial paper 9,982 94,828 Short-term bank deposits 89,362 224,133 Cash and cash equivalents $668,084 $730,669
Changes in the Allowance for Credit Losses on Accounts Receivable	The changes in the allowance for credit losses on accounts receivable and loans and other receivables for the years ended December 31, 2023 , 2022 and 2021 are as follows: (in thousands) Accounts receivable Loans and other receivables 2023 2022 2021 2023 2022 2021 Balance at beginning of year $22,880 $23,124 $27,052 $10,598 $5,142 $9,132 Provisions for expected credit losses (2,873) 4,483 18 5 5,574 2,155 Deductions from allowance (2,378) (2,685) (1,249) (10,552) — (6,049) Recoveries collected — — 288 — — 12 Currency translation adjustments and other (333) (2,042) (2,985) 2 (118) (108) Balance at end of year $17,296 $22,880 $23,124 $53 $10,598 $5,142
Inventories	Inventories consisted of the following as of December 31, 2023 and 2022 : (in thousands) 2023 2022 Raw materials $91,204 $97,613 Work in process 94,736 85,488 Finished goods 212,445 174,859 Total inventories, net $398,385 $357,960

Revenue (Tables)

Revenue (Tables)	12 Months Ended
	Dec. 31, 2023
Revenue from Contract with Customer [Abstract]
Disaggregation of Revenue based on Product Categories and Customer Class	We disaggregate our revenue based on product type and customer class as shown below for the years ended December 31, 2023 , 2022 and 2021 : (in thousands) 2023 2022 2021 Consumables and related revenues $951,366 $1,029,791 $1,027,215 Instruments 84,111 96,436 116,449 Molecular Diagnostics 1,035,477 1,126,227 1,143,664 Consumables and related revenues 774,847 859,133 959,093 Instruments 154,987 156,158 148,900 Life Sciences 929,834 1,015,291 1,107,993 Total net sales $1,965,311 $2,141,518 $2,251,657 Additionally, we disaggregate our revenue based on the product categories as shown below for the years ended December 31, 2023 , 2022 and 2021 : (in thousands) 2023 2022 2021 Sample technologies $662,991 $796,932 $850,636 Diagnostic solutions 697,630 660,879 638,759 PCR / Nucleic acid amplification 300,204 390,804 433,972 Genomics / NGS 238,910 224,797 245,066 Other 65,576 68,106 83,224 Total net sales $1,965,311 $2,141,518 $2,251,657

Restructuring (Tables)

Restructuring (Tables)	12 Months Ended
	Dec. 31, 2023
Restructuring and Related Activities [Abstract]
Summary of Charges Related to the Restructuring Program	The below table shows the pre-tax restructuring charges recorded in 2023 and 2022 in the accompanying consolidated statements of income . (in thousands) 2023 2022 Cost of sales $— $391 Restructuring, acquisition, integration and other, net 6,948 4,612 Total restructuring charges $6,948 $5,003
Summary of Cash Components of Restructuring Activity	A summary of the restructuring liability, which is recorded in accrued and other current liabilities in the accompanying consolidated balance sheets, as of December 31, 2023 and 2022 is as follows: (in thousands) Personnel related Contract and other costs Total Liability at December 31, 2021 $— $— $— Cost incurred in 2022 4,121 491 4,612 Foreign currency translation adjustment 24 3 27 Liability at December 31, 2022 $4,145 $494 $4,639 Costs incurred in 2023 7,457 160 7,617 Release of accruals (662) (7) (669) Payments (3,667) (500) (4,167) Foreign currency translation adjustment 137 — 137 Liability at December 31, 2023 $7,410 $147 $7,557

Short-Term Investments (Tables)

Short-Term Investments (Tables)	12 Months Ended
	Dec. 31, 2023
Schedule of Investments [Abstract]
Summary of Short-Term Investments	As of December 31, 2023 and 2022 , short-term investments were as follows: (in thousands) 2023 2022 Commercial paper $81,023 $672,597 Money market deposits 308,675 15,000 Total short-term investments $389,698 $687,597

Prepaid Expenses and Other Cu_2

Prepaid Expenses and Other Current Assets (Tables)	12 Months Ended
	Dec. 31, 2023
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Summary of Prepaid Expenses and Other Current Assets	Prepaid expenses and other current assets are summarized as follows as of December 31, 2023 and 2022 : (in thousands) Notes 2023 2022 Cash collateral (14) $87,666 $21,083 Income taxes receivable (17) 60,639 53,394 Prepaid expenses 44,854 50,958 Fair value of derivative instruments (14) 43,230 111,617 Other receivables 38,177 19,026 Value added tax 19,911 28,130 Contract assets (4) 15,039 9,768 Total prepaid expenses and other current assets $309,516 $293,976

Property, Plant and Equipment (

Property, Plant and Equipment (Tables)	12 Months Ended
	Dec. 31, 2023
Property, Plant and Equipment [Abstract]
Property, Plant and Equipment	Property, plant and equipment as of December 31, 2023 and 2022 were as follows: (in thousands) Estimated useful lives (in years) 2023 2022 Land $26,239 $25,480 Buildings and improvements up to 60 382,836 362,794 Machinery and equipment 3 - 10 309,930 294,156 Computer software 3 - 20 267,572 262,007 Furniture and office equipment 3 - 10 91,247 90,293 Construction in progress 203,978 130,407 Total property, plant and equipment 1,281,802 1,165,137 Less: Accumulated depreciation and amortization (516,765) (502,967) Total property, plant and equipment, net $765,037 $662,170

Investments (Tables)

Investments (Tables)	12 Months Ended
	Dec. 31, 2023
Investments, Debt and Equity Securities [Abstract]
Summary of Equity Method Investments Included in Other Assets	A summary of our non-marketable investments accounted for as equity method investments is as follows: (in thousands) Ownership percentage Equity investments as of December 31, Share of income (loss) for the years ended December 31, 2023 2022 2023 2022 2021 PreAnalytiX GmbH 50.00 % $3,422 $6,856 $4,977 $4,377 $10,412 Apis Assay Technologies Ltd 19.90 % 2,408 4,102 (1,694) 389 1,773 TVM Life Science Ventures III 3.10 % 7,198 3,872 947 (901) (264) Suzhou Fuda Business Management and Consulting Partnership 33.67 % 2,581 2,608 49 — — Actome GmbH 12.50 % 586 779 (216) (201) (31) Hombrechtikon Systems Engineering AG 19.00 % (275) (311) 100 94 97 Total $15,920 $17,906 $4,163 $3,758 $11,987
Changes in Non-Marketable Investments Not Accounted for Under the Equity Method	The changes in non-marketable investments not accounted for under the equity method for the years ended December 31, 2023 and 2022 are as follows: (in thousands) 2023 2022 Balance at beginning of year $5,329 $3,945 Impairments (4,158) — Cash investments in equity securities, net 491 52 Shares received in exchange for services performed 2,604 1,475 Foreign currency translation adjustments 169 (143) Balance at end of year $4,435 $5,329
Changes in Marketable Equity Securities	The changes in marketable equity securities during the year ended December 31, 2021 are presented below. (in thousands, except shares) Invitae Corporation (Invitae) OncoCyte Corporation (OncoCyte) Oncimmune Holdings plc (Oncimmune) HTG Molecular Diagnostics, Inc (HTGM) Shares Amount Shares Amount Shares Amount Shares Amount Balance at December 31, 2020 2,769,189 $115,780 88,101 $211 560,416 $1,258 55,556 $266 Shares received upon milestone achievement 1,100,190 35,338 30,152 147 86,218 220 — — (Loss) gain on change in fair value — (3,066) — 123 — 61 — 65 Sale of investment (3,869,379) (148,052) (118,253) (481) (646,634) (1,539) (55,556) (331) Balance at December 31, 2021 — $— — $— — $— — $—

Goodwill and Intangible Assets

Goodwill and Intangible Assets (Tables)	12 Months Ended
	Dec. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Changes in Intangible Assets	The following sets forth the intangible assets by major asset class as of December 31, 2023 and 2022 : (in thousands) Weighted average life (in years) 2023 2022 Gross carrying amount Accumulated amortization Gross carrying amount Accumulated amortization Amortized intangible assets: Patent and license rights 10.35 $202,785 ($127,163) $203,549 ($140,632) Developed technology 11.01 798,571 (447,989) 780,233 (407,401) Customer base, trademarks, and non-compete agreements 10.97 212,285 (173,438) 227,171 (179,658) Total amortized intangible assets 10.90 $1,213,641 ($748,590) $1,210,953 ($727,691) Unamortized intangible assets: In-process research and development $61,770 $61,534 Goodwill 2,475,732 2,352,569 Total unamortized intangible assets $2,537,502 $2,414,103 The changes in intangible assets, net excluding goodwill for the years ended December 31, 2023 and 2022 are as follows: (in thousands) 2023 2022 Balance at beginning of year $544,796 $627,436 Additions 11,077 19,632 Additions from acquisitions 58,000 17,247 Amortization (93,755) (93,714) Disposals — (35) Impairments — (12,829) Foreign currency translation adjustments 6,703 (12,941) Balance at end of year $526,821 $544,796
Amortization of Intangibles for the Next Five Years	Amortization of intangibles for the next five years for the years ended December 31 is expected to be approximately: (in thousands) 2024 $91,349 2025 $79,841 2026 $72,334 2027 $66,847 2028 $59,787
Schedule of Changes in Goodwill	The changes in goodwill for the years ended December 31, 2023 and 2022 are as follows: (in thousands) 2023 2022 Balance at beginning of year $2,352,569 $2,350,763 Business combinations 95,136 42,201 Purchase adjustments (4,350) (303) Foreign currency translation adjustments 32,377 (40,092) Balance at end of year $2,475,732 $2,352,569

Leases (Tables)

Leases (Tables)	12 Months Ended
	Dec. 31, 2023
Leases [Abstract]
Supplemental Balance Sheet and Other Information	Supplemental balance sheet and other information related to operating leases as of December 31, 2023 and 2022 are as follows: (in thousands, except lease term and discount rate) Location in consolidated balance sheet 2023 2022 Operating lease right-of-use assets Other long-term assets $105,240 $95,523 Current operating lease liabilities Accrued and other current liabilities $22,268 $22,220 Long-term operating lease liabilities Other long-term liabilities $79,063 $71,406 Weighted average remaining lease term 6.80 years 6.92 years Weighted average discount rate 2.85% 2.08%
Supplemental Cash Flow Information Related to Leases	Supplemental cash flow information related to operating leases for the years ended December 31, 2023 and 2022 is as follows: (in thousands) 2023 2022 Cash paid for operating leases included in cash flows from operating activities $29,300 $26,842 Operating lease right-of-use assets obtained in exchange for lease obligations $30,911 $25,148
Maturities of Lease Liabilities	Future maturities of operating lease liabilities as of December 31, 2023 are as f ollo ws: Years ending December 31, (in thousands) 2024 $25,123 2025 20,876 2026 15,049 2027 11,531 2028 8,162 Thereafter 29,159 Total lease payments 109,900 Less: Imputed interest (8,569) Total $101,331

Accrued and Other Current Lia_2

Accrued and Other Current Liabilities (Tables)	12 Months Ended
	Dec. 31, 2023
Accrued Liabilities, Current [Abstract]
Accrued and Other Current Liabilities	Accrued and other current liabilities at December 31, 2023 and 2022 consist of the following: (in thousands) Notes 2023 2022 Payroll and related accruals $81,377 $99,885 Accrued expenses 70,007 62,469 Deferred revenue (4) 66,432 69,000 Other liabilities (6) 62,819 59,187 Fair value of derivative instruments (14) 49,774 111,252 Operating lease liabilities (12) 22,268 22,220 Accrued contingent consideration and milestone payments (15) 18,359 8,181 Income taxes payable (17) 12,475 13,980 Accrued royalties (20) 9,699 12,877 Accrued interest on long-term debt (16) 8,518 5,431 Cash collateral (14) 5,440 21,755 Total accrued and other current liabilities $407,168 $486,237

Derivatives and Hedging (Tables

Derivatives and Hedging (Tables)	12 Months Ended
	Dec. 31, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Summary of Fair Value Amounts of Derivative Instruments	The following table summarizes the fair value amounts of derivative instruments reported in the consolidated balance sheets as of December 31, 2023 and 2022 : (in thousands) 2023 2022 Current asset Long-term asset Current asset Long-term asset Assets: Derivative instruments designated as hedges Interest rate contracts - cash flow hedge (1) $— $3,083 $— $12,256 Total derivative instruments designated as hedges — 3,083 — 12,256 Undesignated derivative instruments Equity options 39,759 — 102,671 119,098 Foreign exchange forwards and options 3,471 — 8,946 — Total undesignated derivative instruments 43,230 — 111,617 119,098 Total derivative assets $43,230 $3,083 $111,617 $131,354 (in thousands) 2023 2022 Current liability Long-term liability Current liability Long-term liability Liabilities: Derivative instruments designated as hedges Interest rate contracts - cash flow hedge (1) $— ($98,908) $— ($36,982) Total derivative instruments designated as hedges — (98,908) — (36,982) Undesignated derivative instruments Cash convertible notes embedded conversion option (39,830) — (102,896) (119,736) Foreign exchange forwards and options (9,944) — (8,356) — Total undesignated derivative instruments (49,774) — (111,252) (119,736) Total derivative liabilities ($49,774) ($98,908) ($111,252) ($156,718) (1) The fair value am ounts for the interest rate contracts do not include accrued interest.
Summary of the Classification of Gains and Losses on Derivative Instruments and Balance Sheet Line Items in Which the Hedged Item is Included	The following tables summarize the gains and losses on derivative instruments for the years ended December 31, 2023 , 2022 and 2021 : (in thousands) 2023 2022 2021 Other (expense) income, net Other (expense) income, net Other (expense) income, net Total amounts presented in the Consolidated Statements of Income in which the effects of cash flow and fair value hedges are recorded ($5,711) $6,741 $40,671 Gains (losses) on derivatives in cash flow hedges: Interest rate contracts Amount of gain (loss) reclassified from accumulated other comprehensive loss $66,600 $21,940 ($17,010) Amounts excluded from effectiveness testing — — — Gains (losses) on derivatives in fair value hedges: Interest rate contracts Hedged item — 1,971 3,072 Derivatives designated as hedging instruments — (1,971) (3,072) Gains (losses) on derivatives not designated as hedging instruments: Equity options (182,011) (130,801) (23,882) Cash convertible notes embedded cash conversion option 182,802 131,227 28,154 Foreign exchange forwards and options (8,610) 72,641 10,333 Total gains (losses) on derivative instruments $ 58,781 $ 95,007 ($2,405)

Financial Instruments and Fai_2

Financial Instruments and Fair Value Measurements (Tables)	12 Months Ended
	Dec. 31, 2023
Fair Value Disclosures [Abstract]
Fair Value Hierarchy for Financial Assets and Liabilities Measured on a Recurring Basis	The following table presents our fair value hierarchy for our financial assets and liabilities measured at fair value on a recurring basis as of December 31, 2023 and 2022 : (in thousands) 2023 2022 Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total Assets: Cash equivalents $481,360 $9,982 $— $491,342 $289,394 $94,828 $— $384,222 Short-term investments — 81,023 — 81,023 79,600 592,997 — 672,597 Non-marketable equity securities — — 4,435 4,435 — — 5,329 5,329 Equity options — 39,759 — 39,759 — 221,769 — 221,769 Foreign exchange forwards and options — 3,471 — 3,471 — 8,946 — 8,946 Interest rate contracts - cash flow hedge — 3,083 — 3,083 — 12,256 — 12,256 Total financial assets $481,360 $137,318 $4,435 $623,113 $368,994 $930,796 $5,329 $1,305,119 Liabilities: Cash convertible notes embedded conversion option $— ($39,830) $— ($39,830) $— ($222,632) $— ($222,632) Foreign exchange forwards and options — (9,944) — (9,944) — (8,356) — (8,356) Interest rate contracts - cash flow hedge — (98,908) — (98,908) — (36,982) — (36,982) Contingent consideration — — (18,359) (18,359) — — (18,088) (18,088) Total financial liabilities $— ($148,682) ($18,359) ($167,041) $— ($267,970) ($18,088) ($286,058)
Summary of Activity for Liabilities with Level 3 Inputs	For contingent consideration liabilities with Level 3 inputs, the following table summarizes the activity for the years ended December 31, 2023 and 2022 , all of which is related to the 2018 acquisition of STAT-Dx: (in thousands) 2023 2022 Balance at beginning of year ($18,088) ($24,100) Changes in fair value (271) 112 Payments — 5,900 Balance at end of year ($18,359) ($18,088)

Debt (Tables)

Debt (Tables)	12 Months Ended
	Dec. 31, 2023
Debt Instruments [Abstract]
Total Long-Term Debt, Net of Debt Issuance Costs	At December 31, 2023 and 2022 , total long-term debt, net of debt issuance costs of $4.0 million and $6.6 million , respectively, consists of the following: (in thousands) 2023 2022 0.500% Senior Unsecured Cash Convertible Notes due 2023 $— $389,552 1.000% Senior Unsecured Cash Convertible Notes due 2024 483,019 464,331 0.000% Senior Unsecured Convertible Notes due 2027 497,869 497,336 German Private Placement (2017 Schuldschein) 120,956 116,699 German Private Placement (2022 Schuldschein) 407,950 393,532 Total long-term debt 1,509,794 1,861,450 Less: Current portion 587,970 389,552 Long-term portion $921,824 $1,471,898 Repayments of long-term debt for the years ended December 31, 2023 , 2022 and 2021 consisted of: (in thousands) 2023 2022 2021 German Private Placement (2017 Schuldschein) $— $153,003 $41,145 0.500% Senior Unsecured Cash Convertible Notes due 2023 400,000 — — 0.875% Senior Unsecured Cash Convertible Notes due 2021 — — 200 3.75% Series B Senior Notes due October 16, 2022 — 300,000 — 3.90% Series C Senior Notes due October 16, 2024 — 27,000 — Total repayment of long-term debt $400,000 $480,003 $41,345 The principal amount, carrying amount and fair values of long-term debt instruments as of December 31, 2023 and 2022 are summa rized b elow: (in thousands) 2023 Principal amount Unamortized debt discount and issuance costs Carrying amount Fair value Amount Leveling Cash Convertible Notes due 2024 $500,000 ($16,981) $483,019 $513,500 Level 1 Convertible Notes due 2027 500,000 (2,131) 497,869 453,185 Level 1 German Private Placement (2017 Schuldschein) 121,009 (53) 120,956 118,978 Level 2 German Private Placement (2022 Schuldschein) 408,846 (896) 407,950 401,684 Level 2 $1,529,855 ($20,061) $1,509,794 $1,487,347 (in thousands) 2022 Principal amount Unamortized debt discount and issuance costs Carrying amount Fair value Amount Leveling Cash Convertible Notes due 2023 $400,000 ($10,448) $389,552 $493,436 Level 1 Cash Convertible Notes due 2024 500,000 (35,669) 464,331 596,485 Level 1 Convertible Notes due 2027 500,000 (2,664) 497,336 471,545 Level 1 German Private Placement (2017 Schuldschein) 116,821 (122) 116,699 112,401 Level 2 German Private Placement (2022 Schuldschein) 394,638 (1,106) 393,532 378,302 Level 2 $1,911,459 ($50,009) $1,861,450 $2,052,169
Future Maturities of Long-Term Debt	Future maturities of long-term debt stated at the carrying values as of December 31, 2023 are as follows: Years ending December 31, (in thousands) 2024 $587,970 2025 56,836 2026 — 2027 614,800 2028 — Thereafter 250,188 $1,509,794
Interest Expense Related to the Cash Convertible Notes	Interest expense for the years ended December 31, 2023 and 2022 related to the 2027 Notes and the Cash Convertible Notes was comprised of the following: (in thousands) 2023 2022 Coupon interest $4,169 $7,000 Amortization of original issuance discount 27,341 30,170 Amortization of debt issuance costs 2,328 2,593 Total interest expense related to the convertible notes $33,838 $39,763
Interest Rate, Corresponding Maturities, and Contingent Conversion Periods of Cash Convertible Notes	The interest rate and corresponding maturity of each Note are summarized in the table below. The Cash Convertible Notes that remain outstanding as of December 31, 2023 are solely convertible into cash in whole, but not in part, at the option of noteholders under the circumstances described below and during the contingent conversion periods as shown in the t able bel ow. Cash convertible notes Annual interest rate Date of interest payments Maturity date Contingent conversion period Conversion rate per $200,000 principal amount (1) 2024 Notes 1.000% May 13 and November 13 November 13, 2024 From December 24, 2018 to August 2, 2024 4,360.3098
Summary of German Private Placement Tranches	A summary of the tranches is as follows: Carrying value (in thousands) as of December 31, Currency Notional amount Interest rate Maturity 2023 2022 EUR €64.0 million Fixed 1.09% June 2024 $70,704 $68,215 EUR €31.0 million Floating EURIBOR + 0.7% June 2024 34,247 33,041 EUR €14.5 million Fixed 1.61% June 2027 16,005 15,443 $120,956 $116,699 Carrying value (in thousands) as of December 31, Currency Notional amount Interest rate Maturity 2023 2022 EUR €51.5 million Floating 6M EURIBOR + 0.55% July 2025 $56,836 $54,803 EUR €62.0 million Fixed 2.741% July 2027 68,388 65,967 EUR €29.5 million Floating 6M EURIBOR + 0.70% July 2027 32,539 31,388 EUR €37.0 million Fixed 3.044% July 2029 40,803 39,365 EUR €103.0 million Floating 6M EURIBOR + 0.85% July 2029 113,586 109,585 EUR €9.5 million Fixed 3.386% July 2032 10,475 10,107 EUR €7.5 million Floating 6M EURIBOR + 1.0% July 2032 8,269 7,979 EUR €70.0 million Fixed 3.04% August 2035 77,054 74,338 $407,950 $393,532

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2023
Income Tax Disclosure [Abstract]
Income Before Income Taxes	I ncome before income tax expense for the years ended December 31, 2023 , 2022 and 2021 consisted of: (in thousands) 2023 2022 2021 Pretax income in the Netherlands $18,591 $14,551 $7,062 Pretax income from foreign operations 411,218 498,050 618,771 Total income before income tax expense $429,809 $512,601 $625,833
Provision for Income Taxes	I ncome tax expense for the years ended December 31, 2023 , 2022 and 2021 are as follows: (in thousands) 2023 2022 2021 Current: The Netherlands $11,393 $9,672 $1,714 Foreign 66,382 89,321 116,808 77,775 98,993 118,522 Deferred: The Netherlands (5,535) (683) (1,776) Foreign 16,266 (8,920) (3,512) 10,731 (9,603) (5,288) Total income tax expense $88,506 $89,390 $113,234
Difference Between Income Taxes Computed at Statutory Rate and Reported Income Taxes and Effective Tax Rate	T he principal items comprising the differences between income taxes computed at the Netherlands' statutory income tax rate and our effective tax rate for the years ended December 31, 2023 , 2022 and 2021 are as follows: 2023 2022 2021 The Netherlands' statutory income tax rate 25.8% 25.8% 25.0% Taxation of foreign operations, net (1) (7.6) (4.9) (3.0) Unrecognized tax benefits (2) 3.1 0.9 1.6 Excess tax benefit related to share-based compensation (0.3) (0.5) (1.0) Prior year taxes 0.3 (1.1) 0.6 Government incentives (3) (1.0) (0.5) (0.6) Changes in tax laws and rates 0.2 (0.2) (0.4) Tax impact from nondeductible (deductible) items 1.3 (1.9) 0.2 Valuation allowance (1.8) 0.0 (4.4) Other items, net 0.6 (0.2) 0.1 Effective tax rate 20.6% 17.4% 18.1% (1) Our effective tax rate reflec ts our global operations where certain income or loss is taxed at rates higher or lower than the Netherlands’ statutory income tax rate as well as the benefit of some income being partially exempt from income taxes. These foreign tax benefits are due to a combination of favorable tax laws, regulations and exemptions in certain jurisdictions. Partial tax exemptions exist on foreign income primarily derived from operations in Germany. Further, we have intercompany financing arrangements in which the intercompany income is nontaxable in Dubai or partially exempt or subject to lower statutory income tax rates. (2) Unrecognized tax benefits include the impact from reassessment of accruals for tax contingencies, primarily related to ongoing taxing authority examinations . (3) Government incentives include tax credits in the U.S. relating to research and development expense.
Changes in Amounts of Unrecognized Tax Benefits	Changes in the amount of unrecognized tax benefits for the years ended December 31, 2023 , 2022 and 2021 are as follows: (in thousands) 2023 2022 2021 Balance at beginning of year $79,283 $103,618 $100,092 Additions based on tax positions related to the current year 9,632 9,754 6,629 Additions for tax positions of prior years 7,839 4,544 5,036 Decrease for tax position of prior years (3,832) (8,958) (266) Decrease related to settlements (119) (23,346) — Decrease due to lapse of statute of limitations — (580) (344) Increase (decrease) from currency translation 2,755 (5,749) (7,529) Balance at end of year $95,558 $79,283 $103,618
Components of Net Deferred Tax Assets and Liabilities	The comp one nts of the net deferred tax assets at December 31, 2023 and 2022 are as follows: (in thousands) 2023 2022 Deferred tax assets: Net operating loss and tax credit carryforwards $42,944 $53,155 Intangible assets 30,084 33,510 Accrued and other liabilities 25,375 27,544 Share-based compensation 25,598 21,792 Property, plant and equipment 2,249 4,032 Convertible notes 2,173 3,621 Inventories 4,268 3,003 Disallowed interest carryforwards 1,157 1,511 Other 7,133 6,479 Total deferred tax assets before valuation allowance 140,981 154,647 Valuation allowance (13,214) (21,265) Total deferred tax assets, after valuation allowance $127,767 $133,382 Deferred tax liabilities: Intangible assets ($50,723) ($55,921) Property, plant and equipment (46,536) (33,847) Inventories (579) (820) Other (4,178) (3,997) Total deferred tax liabilities ($102,016) ($94,585) Deferred tax assets, net $25,751 $38,797
Change in the Valuation Allowance	The changes in the valuation allowance for the years ended December 31, 2023 , 2022 and 2021 were as follows: (in thousands) 2023 2022 2021 Balance at beginning of year ($21,265) ($21,326) ($37,332) Additions charged to income tax expense (2,015) (4,470) (620) Deductions charged to income tax expense 9,719 4,287 28,251 Additions charged to additional paid-in capital — — (13,513) Currency translation 347 244 1,888 Balance at end of year ($13,214) ($21,265) ($21,326)

Equity (Tables)

Equity (Tables)	12 Months Ended
	Dec. 31, 2023
Equity [Abstract]
Issuance of Warrants	The Warrants could separately have a dilutive effect on shares of our common stock to the extent that the market value per share of our common stock exceeds the applicable exercise price of the Warrants (as measured under the terms of the Warrants). Cash convertible notes Issued on Number of share warrants issued (in millions) Weighted average exercise price per share Proceeds from issuance of warrants, net of issuance costs (in millions) Warrants expire over a period of 50 trading days beginning on 2023 Notes September 13, 2017 9.7 $49.9775 $45.3 June 26, 2023 2024 Notes November 13, 2018 10.9 $50.2947 $72.4 August 27, 2024
Accumulated Other Comprehensive Loss	The following table is a summary of the components of accumulated other comprehensive loss as of December 31, 2023 and 2022 : (in thousands) 2023 2022 Net unrealized loss on hedging contracts, net of tax ($37,372) ($15,637) Net unrealized gain on pension, net of tax 812 645 Foreign currency effects from intercompany long-term investment transactions, net of tax benefits of $13.2 million in 2023 and 2022 (33,648) (33,311) Foreign currency translation adjustments (363,622) (355,788) Accumulated other comprehensive loss ($433,830) ($404,091)

Earnings Per Common Share (Tabl

Earnings Per Common Share (Tables)	12 Months Ended
	Dec. 31, 2023
Earnings Per Share [Abstract]
Summary of the Computation of Earnings per Common Share	The following schedule summarizes the information used to compute earnings per common share for the years ended December 31, 2023 , 2022 and 2021 : (in thousands, except per share data) 2023 2022 2021 Net income $341,303 $423,211 $512,599 Weighted average number of common shares used to compute basic earnings per common share 228,146 227,577 227,983 Dilutive effect of outstanding stock options and restricted stock units 2,473 2,555 3,403 Dilutive effect of outstanding warrants — 4 648 Weighted average number of common shares used to compute diluted earnings per common share 230,619 230,136 232,034 Outstanding stock options and awards having no dilutive effect, not included in above calculation 1 146 8 Outstanding warrants having no dilutive effect, not included in above calculation 17,562 20,556 19,912 Basic earnings per common share $1.50 $1.86 $2.25 Diluted earnings per common share $1.48 $1.84 $2.21

Commitments and Contingencies (

Commitments and Contingencies (Tables)	12 Months Ended
	Dec. 31, 2023
Commitments and Contingencies Disclosure [Abstract]
Commitments to Purchase Goods or Services and for Future License and Royalty Payments	At December 31, 2023 , we had commitments to purchase goods or services and to make future license and royalty payments. They are as follows: Years ending December 31, (in thousands) Purchase commitments License & royalty commitments 2024 $37,396 $1,926 2025 35,992 1,453 2026 13,150 783 2027 11,383 766 2028 903 560 Thereafter — 1,729 $98,824 $7,217
Changes in the Carrying Amount of Warranty Liability	The changes in the carrying amount of warranty obligations for the years ended December 31, 2023 and 2022 are as follows: (in thousands) 2023 2022 Balance at beginning of year $4,899 $6,324 Provision charged to cost of sales 3,947 4,606 Usage (3,451) (4,517) Adjustments to previously provided warranties, net (1,501) (1,277) Currency translation 50 (237) Balance at end of year $3,944 $4,899

Segment Information (Tables)

Segment Information (Tables)	12 Months Ended
	Dec. 31, 2023
Segment Reporting Information, Additional Information [Abstract]
Net Sales	Net sales by geographical location for the years ended December 31, 2023 , 2022 and 2021 are as follows: (in thousands) 2023 2022 2021 Americas: United States $935,281 $909,616 $909,690 Other Americas 84,774 88,139 97,686 Total Americas 1,020,055 997,755 1,007,376 Europe, Middle East and Africa 624,573 733,469 814,417 Asia Pacific, Japan and Rest of World 320,683 410,294 429,864 Total net sales $1,965,311 $2,141,518 $2,251,657
Long-Lived Assets	Long-lived assets by geographical location as of December 31, 2023 and 2022 are as follows: (in thousands) 2023 2022 Americas: United States $164,865 $161,645 Other Americas 3,657 2,997 Total Americas 168,522 164,642 Europe, Middle East and Africa: Germany 496,386 400,009 Other Europe, Middle East and Africa 76,306 75,045 Total Europe, Middle East and Africa 572,692 475,054 Asia Pacific, Japan and Rest of World 23,823 22,474 Total long-lived assets $765,037 $662,170

Share-Based Compensation (Table

Share-Based Compensation (Tables)	12 Months Ended
	Dec. 31, 2023
Share-Based Payment Arrangement, Recognized Amount [Abstract]
Summary of Stock Units	A summary of stock units as of December 31, 2023 and changes during the year are presented below. Stock units Number of stock units (in thousands) Weighted average contractual term (in years) Aggregate intrinsic value (in thousands) Outstanding at January 1, 2023 3,771 Granted 1,185 Vested (864) Forfeited (77) Outstanding at December 31, 2023 4,015 1.34 $174,364 Vested and expected to vest at December 31, 2023 3,744 1.29 $162,610
Summary of the Status of Employee Stock Options	We have not granted stock options since 2013. A summary of the status of employee stock options as of December 31, 2023 and changes during the year then ended is presented below. Stock options Number of shares (in thousands) Weighted average exercise price Outstanding at January 1, 2023 9 $18.68 Exercised (9) $18.68 Outstanding at December 31, 2023 — $—
Compensation Expense	Share-based compensation expense before taxes for the years ended December 31, 2023 , 2022 and 2021 totaled approximately $47.1 million , $49.5 million and $38.4 million , respectively, as shown in the table below. (in thousands) 2023 2022 2021 Cost of sales $3,296 $2,577 $40 Research and development 7,484 6,504 4,909 Sales and marketing 14,495 16,076 13,630 General and administrative 21,825 24,350 19,812 Share-based compensation expense 47,100 49,507 38,391 Less: Income tax benefit (1) 11,035 10,703 8,956 Share-based compensation expense, after tax $36,065 $38,804 $29,435 (1) Does not include the excess tax benefit realized for the tax deductions of the share-based payment arrangements which totaled $1.3 million , $2.7 million and $6.5 million , respectively, for the years ended December 31, 2023 , 2022 and 2021 .

Related Party Transactions (Tab

Related Party Transactions (Tables)	12 Months Ended
	Dec. 31, 2023
Related Party Transactions [Abstract]
Summary of Related Party Transactions	Net sales to related parties for the years ended December 31, 2023 , 2022 and 2021 are as follows: (in thousands) 2023 2022 2021 Net sales $9,039 $8,474 $9,089 As of December 31, 2023 and 2022 , balances with related parties are as follows: (in thousands) 2023 2022 Accounts receivable $2,890 $5,136 Prepaid expenses and other current assets $78 $11,929 Accounts payable $700 $2,708 Accrued and other current liabilities $2,893 $3,518

Corporate Information and Bas_2

Corporate Information and Basis of Presentation (Details) $ in Thousands, customer in Millions		12 Months Ended
	Apr. 01, 2022	Dec. 31, 2023 USD ($) employee customer country	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of customers | customer		0.5
Number of employees | employee		6,000
Number of countries with employees in direct subsidiaries (at least) | country		35
Segment Reporting Information [Line Items]
Restructuring, acquisition, integration and other, net		$ 35,309	$ 44,768	$ 27,762
Turkey
Segment Reporting Information [Line Items]
Three-year cumulative inflation rate, percent (exceeded)	100%
Russia
Segment Reporting Information [Line Items]
Restructuring, acquisition, integration and other, net			$ 4,000

Effects of New Accounting Pro_2

Effects of New Accounting Pronouncements (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Jan. 01, 2021	Dec. 31, 2020
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Equity	$ 3,807,764	$ 3,466,611	$ 3,096,550		$ 2,797,839
Additional paid-in capital
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Equity	1,915,115	1,868,015	1,818,508		1,834,169
Retained earnings
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Equity	$ 2,456,800	$ 2,160,173	$ 1,791,740		1,323,091
Impact of Change in Accounting Policy
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Equity					(53,789)
Impact of Change in Accounting Policy | Additional paid-in capital
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Equity				$ (54,100)	(54,052)
Impact of Change in Accounting Policy | Retained earnings
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Equity				$ 300	$ 263

Summary of Significant Accoun_4

Summary of Significant Accounting Policies - Narrative (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2023 USD ($) segment reportingUnit	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)
Significant Accounting Policies [Line Items]
Net gain (loss) on foreign currency transactions	$ (5,800)	$ 2,700	$ (9,000)
Number of operating segments | segment	1
Number of reporting units | reportingUnit	1
Standard product warranty term	1 year
Cost of sales	$ 731,623	756,955	800,837
Advertising costs	11,500	15,800	13,500
Deductions from allowance	$ (10,552)	0	(6,049)
Patents | Minimum
Significant Accounting Policies [Line Items]
Estimated useful lives finite intangible assets	1 year
Patents | Maximum
Significant Accounting Policies [Line Items]
Estimated useful lives finite intangible assets	20 years
Shipping and Handling | Sales and Marketing Expense
Significant Accounting Policies [Line Items]
Cost of sales	$ 32,400	$ 34,400	$ 31,700

Summary of Significant Accoun_5

Summary of Significant Accounting Policies - Exchange Rates of Key Currencies (Details)	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Euro (EUR)
Schedule of Foreign Currency Exchange Rates [Line Items]
Closing rate	1.1050	1.0666
Annual average rate	1.0814	1.0542	1.1832
Pound Sterling (GBP)
Schedule of Foreign Currency Exchange Rates [Line Items]
Closing rate	1.2715	1.2026
Annual average rate	1.2435	1.2376	1.3758
Swiss Franc (CHF)
Schedule of Foreign Currency Exchange Rates [Line Items]
Closing rate	1.1933	1.0832
Annual average rate	1.1133	1.0486	1.0940
Japanese Yen (JPY)
Schedule of Foreign Currency Exchange Rates [Line Items]
Closing rate	0.0071	0.0076
Annual average rate	0.0071	0.0077	0.0091
Chinese Yuan (CNY)
Schedule of Foreign Currency Exchange Rates [Line Items]
Closing rate	0.1408	0.1450
Annual average rate	0.1413	0.1489	0.1550

Summary of Significant Accoun_6

Summary of Significant Accounting Policies - Cash and Cash Equivalents (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Accounting Policies [Abstract]
Cash at bank and on hand	$ 87,380	$ 122,314
Money market funds	481,360	289,394
Commercial paper	9,982	94,828
Short-term bank deposits	89,362	224,133
Cash and cash equivalents	$ 668,084	$ 730,669

Summary of Significant Accoun_7

Summary of Significant Accounting Policies - Changes in the Allowance for Credit Losses on Accounts Receivable (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Balance at beginning of year	$ 22,880	$ 23,124	$ 27,052
Provisions for expected credit losses	(2,873)	4,483	18
Deductions from allowance	(2,378)	(2,685)	(1,249)
Recoveries collected	0	0	288
Currency translation adjustments and other	(333)	(2,042)	(2,985)
Balance at end of year	17,296	22,880	23,124
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Balance, at beginning of year	10,598	5,142	9,132
Provisions for expected credit losses	5	5,574	2,155
Deductions from allowance	(10,552)	0	(6,049)
Recoveries collected	0	0	12
Currency translation adjustments and other	2	(118)	(108)
Balance, at end of year	$ 53	$ 10,598	$ 5,142

Summary of Significant Accoun_8

Summary of Significant Accounting Policies - Inventories (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Accounting Policies [Abstract]
Raw materials	$ 91,204	$ 97,613
Work in process	94,736	85,488
Finished goods	212,445	174,859
Total inventories, net	$ 398,385	$ 357,960

Revenue - Narrative (Details)

Revenue - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended		36 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2023
Disaggregation of Revenue [Line Items]
Contract assets	$ 15,039	$ 9,768	$ 15,039
Contract liabilities	82,100	84,200	82,100
Contract liabilities, current	66,432	69,000	66,432
Revenue recognized related to advance customer payments previously received	66,800	57,600
Accrued and Other Current Liabilities
Disaggregation of Revenue [Line Items]
Contract liabilities, current	66,400	69,000	66,400
Other Long-Term Liabilities
Disaggregation of Revenue [Line Items]
Contract liabilities, noncurrent	$ 15,700	$ 15,200	$ 15,700
Sales Revenue, Net | Product Concentration Risk | Consumable Products | Minimum
Disaggregation of Revenue [Line Items]
Concentration risk			78%
Sales Revenue, Net | Product Concentration Risk | Consumable Products | Maximum
Disaggregation of Revenue [Line Items]
Concentration risk			81%
Sales Revenue, Net | Product Concentration Risk | Related Revenue | Minimum
Disaggregation of Revenue [Line Items]
Percentage of net sales			7%
Sales Revenue, Net | Product Concentration Risk | Related Revenue | Maximum
Disaggregation of Revenue [Line Items]
Percentage of net sales			10%
Sales Revenue, Net | Product Concentration Risk | Instruments | Maximum
Disaggregation of Revenue [Line Items]
Percentage of net sales			12%

Revenue - Performance Obligatio

Revenue - Performance Obligations (Details) - Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-01-01 $ in Millions	Dec. 31, 2023 USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligations	$ 55.5
Minimum
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Expected recognition period	12 months
Maximum
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Expected recognition period	18 months

Revenue - Disaggregation of Rev

Revenue - Disaggregation of Revenue based on Product Categories and Customer Class (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Disaggregation of Revenue [Line Items]
Revenue	$ 1,965,311	$ 2,141,518	$ 2,251,657
Molecular Diagnostics
Disaggregation of Revenue [Line Items]
Revenue	1,035,477	1,126,227	1,143,664
Life Sciences
Disaggregation of Revenue [Line Items]
Revenue	929,834	1,015,291	1,107,993
Consumables and related | Molecular Diagnostics
Disaggregation of Revenue [Line Items]
Revenue	951,366	1,029,791	1,027,215
Consumables and related | Life Sciences
Disaggregation of Revenue [Line Items]
Revenue	774,847	859,133	959,093
Instruments | Molecular Diagnostics
Disaggregation of Revenue [Line Items]
Revenue	84,111	96,436	116,449
Instruments | Life Sciences
Disaggregation of Revenue [Line Items]
Revenue	$ 154,987	$ 156,158	$ 148,900

Revenue - Disaggregation of R_2

Revenue - Disaggregation of Revenue Based on Product Category (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Disaggregation of Revenue [Line Items]
Revenue	$ 1,965,311	$ 2,141,518	$ 2,251,657
Sample technologies
Disaggregation of Revenue [Line Items]
Revenue	662,991	796,932	850,636
Diagnostic solutions
Disaggregation of Revenue [Line Items]
Revenue	697,630	660,879	638,759
PCR / Nucleic acid amplification
Disaggregation of Revenue [Line Items]
Revenue	300,204	390,804	433,972
Genomics / NGS
Disaggregation of Revenue [Line Items]
Revenue	238,910	224,797	245,066
Other
Disaggregation of Revenue [Line Items]
Revenue	$ 65,576	$ 68,106	$ 83,224

Acquisitions - Business Combina

Acquisitions - Business Combinations, Narrative (Details) - USD ($) $ in Thousands			12 Months Ended
	Jan. 03, 2023	May 11, 2022	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Business Acquisition [Line Items]
Cash consideration, net of cash acquired			$ 149,532	$ 63,651	$ 0
Verogen Inc.
Business Acquisition [Line Items]
Percentage of shares acquired	100%
Cash consideration, net of cash acquired	$ (149,500)
BLIRT S.A.
Business Acquisition [Line Items]
Cash consideration, net of cash acquired		$ 63,700

Restructuring - Restructuring C

Restructuring - Restructuring Charges (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Restructuring Cost and Reserve [Line Items]
Total restructuring charges	$ 6,948	$ 5,003
Cost of sales
Restructuring Cost and Reserve [Line Items]
Total restructuring charges	$ 0	$ 391
Restructuring, Incurred Cost, Statement of Income or Comprehensive Income [Extensible Enumeration]	Cost of sales	Cost of sales
Restructuring, acquisition, integration and other, net
Restructuring Cost and Reserve [Line Items]
Total restructuring charges	$ 6,948	$ 4,612
Restructuring, Incurred Cost, Statement of Income or Comprehensive Income [Extensible Enumeration]	Restructuring, acquisition, integration and other, net	Restructuring, acquisition, integration and other, net

Restructuring - Summary of Bala

Restructuring - Summary of Balance Sheet Components of Restructuring Activity (Details) - 2022 Restructuring Plan - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Restructuring Reserve [Roll Forward]
Liability at beginning of period	$ 4,639	$ 0
Cost incurred	7,617	4,612
Release of accruals	669
Payments	(4,167)
Foreign currency translation adjustment	137	27
Liability at end of period	7,557	4,639
Personnel related
Restructuring Reserve [Roll Forward]
Liability at beginning of period	4,145	0
Cost incurred	7,457	4,121
Release of accruals	662
Payments	(3,667)
Foreign currency translation adjustment	137	24
Liability at end of period	7,410	4,145
Contract and other costs
Restructuring Reserve [Roll Forward]
Liability at beginning of period	494	0
Cost incurred	160	491
Release of accruals	7
Payments	(500)
Foreign currency translation adjustment	0	3
Liability at end of period	$ 147	$ 494

Short-Term Investments - Summar

Short-Term Investments - Summary of Short-Term Investments (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Schedule of Investments [Line Items]
Short-term investments	$ 389,698	$ 687,597
Commercial paper
Schedule of Investments [Line Items]
Short-term investments	81,023	672,597
Money market deposits
Schedule of Investments [Line Items]
Short-term investments	$ 308,675	$ 15,000

Short-Term Investments - Narrat

Short-Term Investments - Narrative (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Schedule of Investments [Abstract]
Short-term investments	$ 389,698	$ 687,597

Prepaid Expenses and Other Cu_3

Prepaid Expenses and Other Current Assets (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Cash collateral	$ 87,666	$ 21,083
Income taxes receivable	60,639	53,394
Prepaid expenses	44,854	50,958
Fair value of derivative instruments	43,230	111,617
Other receivables	38,177	19,026
Value added tax	19,911	28,130
Contract assets	15,039	9,768
Total prepaid expenses and other current assets	$ 309,516	$ 293,976

Property, Plant and Equipment -

Property, Plant and Equipment - Summary (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 1,281,802	$ 1,165,137
Less: Accumulated depreciation and amortization	(516,765)	(502,967)
Total property, plant and equipment, net	765,037	662,170
Land
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	26,239	25,480
Buildings and improvements
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 382,836	362,794
Buildings and improvements | Maximum
Property, Plant and Equipment [Line Items]
Estimated useful life	60 years
Machinery and equipment
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 309,930	294,156
Machinery and equipment | Minimum
Property, Plant and Equipment [Line Items]
Estimated useful life	3 years
Machinery and equipment | Maximum
Property, Plant and Equipment [Line Items]
Estimated useful life	10 years
Computer software
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 267,572	262,007
Computer software | Minimum
Property, Plant and Equipment [Line Items]
Estimated useful life	3 years
Computer software | Maximum
Property, Plant and Equipment [Line Items]
Estimated useful life	20 years
Furniture and office equipment
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 91,247	90,293
Furniture and office equipment | Minimum
Property, Plant and Equipment [Line Items]
Estimated useful life	3 years
Furniture and office equipment | Maximum
Property, Plant and Equipment [Line Items]
Estimated useful life	10 years
Construction in progress
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 203,978	$ 130,407

Property, Plant and Equipment_2

Property, Plant and Equipment - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Property, Plant and Equipment [Abstract]
Interest capitalized	$ 1.2
Depreciation and amortization	85.6	$ 89.5	$ 85.4
Amortization expense related to computer software costs	11.7	10.8	9.2
Unamortized balance of computer software to be sold, leased or marketed	97.9	69.2
Repairs and maintenance expense	$ 19.3	$ 16.8	$ 16.2

Investments - Summary of Equity

Investments - Summary of Equity Method Investments Included in Other Assets (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Schedule of Investments [Line Items]
Equity investments	$ 15,920	$ 17,906
Share of income (loss) for the year	$ 4,163	3,758	$ 11,987
PreAnalytiX GmbH
Schedule of Investments [Line Items]
Ownership percentage	50%
Equity investments	$ 3,422	6,856
Share of income (loss) for the year	$ 4,977	4,377	10,412
Apis Assay Technologies Ltd
Schedule of Investments [Line Items]
Ownership percentage	19.90%
Equity investments	$ 2,408	4,102
Share of income (loss) for the year	$ (1,694)	389	1,773
TVM Life Science Ventures III
Schedule of Investments [Line Items]
Ownership percentage	3.10%
Equity investments	$ 7,198	3,872
Share of income (loss) for the year	$ 947	(901)	(264)
Suzhou Fuda Business Management and Consulting Partnership
Schedule of Investments [Line Items]
Ownership percentage	33.67%
Equity investments	$ 2,581	2,608
Share of income (loss) for the year	$ 49	0	0
Actome GmbH
Schedule of Investments [Line Items]
Ownership percentage	12.50%
Equity investments	$ 586	779
Share of income (loss) for the year	$ (216)	(201)	(31)
Hombrechtikon Systems Engineering AG
Schedule of Investments [Line Items]
Ownership percentage	19%
Equity investments	$ (275)	(311)
Share of income (loss) for the year	$ 100	$ 94	$ 97

Investments - Narrative (Detail

Investments - Narrative (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2023 USD ($) variableInterestEntity	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)
Schedule of Investments [Line Items]
Carrying value of equity investments	$ 15,920	$ 17,906
Number of variable interest entities | variableInterestEntity	4
Non-marketable investments	$ 4,435	5,329	$ 3,945
Impairments to non-marketable investments not accounted for under the equity method	4,158	0
Realized gain on sale			32,300
VIE
Schedule of Investments [Line Items]
Carrying value of equity investments	9,900	8,400
TVM Life Science Ventures III
Schedule of Investments [Line Items]
Carrying value of equity investments	$ 7,198	3,872
Ownership percentage	3.10%
Payments for equity method investments	$ 2,400	1,100	2,400
TVM Life Science Ventures III | Investment Commitiment
Schedule of Investments [Line Items]
Unfunded commitment through 2029	6,800
PreAnalytiX GmbH
Schedule of Investments [Line Items]
Carrying value of equity investments	$ 3,422	6,856
Ownership percentage	50%
Dividends received	$ 9,100	7,500	$ 4,700
Other Long-Term Assets
Schedule of Investments [Line Items]
Carrying value of equity investments	16,200
Other Long-Term Assets | VIE
Schedule of Investments [Line Items]
Carrying value of equity investments		8,700
Maximum loss exposure	10,200
Other Long-Term Liabilities
Schedule of Investments [Line Items]
Carrying value of equity investments	(300)
Other Long-Term Liabilities | VIE
Schedule of Investments [Line Items]
Carrying value of equity investments	$ 300	$ 300

Investments - Changes in Non-Ma

Investments - Changes in Non-Marketable Investments Not Accounted for Under the Equity Method (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Equity Securities Without Readily Determinable Fair Value [Roll Forward]
Balance at beginning of year	$ 5,329	$ 3,945
Impairments	(4,158)	0
Cash investments in equity securities, net	491	52
Shares received in exchange for services performed	2,604	1,475
Foreign currency translation adjustments	169	(143)
Balance at end of year	$ 4,435	$ 5,329

Investments - Changes in Market

Investments - Changes in Marketable Equity Securities (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2021 USD ($) shares
Invitae Corporation (Invitae)
Investments Owned [Roll Forward]
Balance at beginning of period (in shares) | shares	2,769,189
Shares received upon milestone achievement (in shares) | shares	1,100,190
Sale of investment (in shares) | shares	(3,869,379)
Balance at end of period (in shares) | shares	0
Equity Securities, FV-NI [Roll Forward]
Balance beginning of period	$ 115,780
Shares received upon milestone achievement	35,338
(Loss) gain on change in fair value	(3,066)
Sale of investment	(148,052)
Balance, end of period	$ 0
OncoCyte Corporation (OncoCyte)
Investments Owned [Roll Forward]
Balance at beginning of period (in shares) | shares	88,101
Shares received upon milestone achievement (in shares) | shares	30,152
Sale of investment (in shares) | shares	(118,253)
Balance at end of period (in shares) | shares	0
Equity Securities, FV-NI [Roll Forward]
Balance beginning of period	$ 211
Shares received upon milestone achievement	147
(Loss) gain on change in fair value	123
Sale of investment	(481)
Balance, end of period	$ 0
Oncimmune Holdings plc (Oncimmune)
Investments Owned [Roll Forward]
Balance at beginning of period (in shares) | shares	560,416
Shares received upon milestone achievement (in shares) | shares	86,218
Sale of investment (in shares) | shares	(646,634)
Balance at end of period (in shares) | shares	0
Equity Securities, FV-NI [Roll Forward]
Balance beginning of period	$ 1,258
Shares received upon milestone achievement	220
(Loss) gain on change in fair value	61
Sale of investment	(1,539)
Balance, end of period	$ 0
HTG Molecular Diagnostics, Inc (HTGM)
Investments Owned [Roll Forward]
Balance at beginning of period (in shares) | shares	55,556
Shares received upon milestone achievement (in shares) | shares	0
Sale of investment (in shares) | shares	(55,556)
Balance at end of period (in shares) | shares	0
Equity Securities, FV-NI [Roll Forward]
Balance beginning of period	$ 266
Shares received upon milestone achievement	0
(Loss) gain on change in fair value	65
Sale of investment	(331)
Balance, end of period	$ 0

Goodwill and Intangible Asset_2

Goodwill and Intangible Assets - Intangible Assets by Major Asset Class (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Finite-Lived Intangible Assets [Line Items]
Weighted average life (in years)	10 years 10 months 24 days
Gross carrying amount	$ 1,213,641	$ 1,210,953
Accumulated amortization	(748,590)	(727,691)
Goodwill	2,475,732	2,352,569	$ 2,350,763
Total unamortized intangible assets	2,537,502	2,414,103
In-process research and development
Finite-Lived Intangible Assets [Line Items]
Gross carrying amount	$ 61,770	61,534
Patent and license rights
Finite-Lived Intangible Assets [Line Items]
Weighted average life (in years)	10 years 4 months 6 days
Gross carrying amount	$ 202,785	203,549
Accumulated amortization	$ (127,163)	(140,632)
Developed technology
Finite-Lived Intangible Assets [Line Items]
Weighted average life (in years)	11 years 3 days
Gross carrying amount	$ 798,571	780,233
Accumulated amortization	$ (447,989)	(407,401)
Customer base, trademarks, and non-compete agreements
Finite-Lived Intangible Assets [Line Items]
Weighted average life (in years)	10 years 11 months 19 days
Gross carrying amount	$ 212,285	227,171
Accumulated amortization	$ (173,438)	$ (179,658)

Goodwill and Intangible Asset_3

Goodwill and Intangible Assets - Changes in Intangible Assets and Goodwill (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Intangible Assets [Roll Forward]
Balance at beginning of year	$ 544,796	$ 627,436
Additions	11,077	19,632
Additions from acquisitions	58,000	17,247
Amortization	(93,755)	(93,714)	$ (104,400)
Disposals	0	(35)
Impairments	0	(12,829)
Foreign currency translation adjustments	6,703	(12,941)
Balance at end of year	526,821	544,796	627,436
Goodwill [Roll Forward]
Balance at beginning of year	2,352,569	2,350,763
Business combinations	95,136	42,201
Purchase adjustments	(4,350)	(303)
Foreign currency translation adjustments	32,377	(40,092)
Balance at end of year	$ 2,475,732	$ 2,352,569	$ 2,350,763

Goodwill and Intangible Asset_4

Goodwill and Intangible Assets - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Finite-Lived Intangible Assets [Line Items]
Fully amortized intangible assets, retired	$ 87,300	$ 135,300
Cash paid for purchases of intangible assets	13,092	20,112	$ 16,630
Cash paid for purchases of intangible assets accrued in prior years	2,300
Intangible assets additions	11,077	19,632
Amortization of intangible assets	93,755	93,714	$ 104,400
Impairments	0	(12,829)
Affiliated Entity
Finite-Lived Intangible Assets [Line Items]
Impairments		(12,800)
Intangible Assets
Finite-Lived Intangible Assets [Line Items]
Cash paid for purchases of intangible assets	$ 10,800	10,900
Intangible assets additions		19,600
Prepaid Expenses and Other Current Assets
Finite-Lived Intangible Assets [Line Items]
Intangible assets additions		7,000
Other Long-term Assets
Finite-Lived Intangible Assets [Line Items]
Cash paid for purchases of intangible assets		4,400
Licenses
Finite-Lived Intangible Assets [Line Items]
Cash paid for purchases of intangible assets accrued in prior years		4,800
Intangible assets additions		$ 1,700

Goodwill and Intangible Asset_5

Goodwill and Intangible Assets - Amortization of Intangibles for the Next Five Years (Details) $ in Thousands	Dec. 31, 2023 USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
2024	$ 91,349
2025	79,841
2026	72,334
2027	66,847
2028	$ 59,787

Leases - Narrative (Details)

Leases - Narrative (Details) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Lessee, Lease, Description [Line Items]
Lease cost	$ 28,600,000	$ 27,000,000
Operating leases that have not yet commenced	$ 0
Minimum
Lessee, Lease, Description [Line Items]
Lease terms	1 year
Maximum
Lessee, Lease, Description [Line Items]
Lease terms	15 years

Leases - Supplemental Balance S

Leases - Supplemental Balance Sheet and Other Information (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Leases [Abstract]
Operating lease right-of-use assets	$ 105,240	$ 95,523
Current operating lease liabilities	22,268	22,220
Long-term operating lease liabilities	$ 79,063	$ 71,406
Weighted average remaining lease term - operating leases	6 years 9 months 18 days	6 years 11 months 1 day
Weighted average discount rate	2.85%	2.08%
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible List]	Other long-term assets	Other long-term assets
Operating Lease, Liability, Current, Statement of Financial Position [Extensible List]	Accrued And Other Liabilities, Current	Accrued And Other Liabilities, Current
Operating Lease, Liability, Noncurrent, Statement of Financial Position [Extensible List]	Other long-term liabilities	Other long-term liabilities

Leases - Supplemental Cash Flow

Leases - Supplemental Cash Flow Information Related to Leases (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Leases [Abstract]
Cash paid for operating leases included in cash flows from operating activities	$ 29,300	$ 26,842
Operating lease right-of-use assets obtained in exchange for lease obligations	$ 30,911	$ 25,148

Leases - Maturities of Lease Li

Leases - Maturities of Lease Liabilities (Details) $ in Thousands	Dec. 31, 2023 USD ($)
Leases [Abstract]
2024	$ 25,123
2025	20,876
2026	15,049
2027	11,531
2028	8,162
Thereafter	29,159
Total lease payments	109,900
Less: Imputed interest	(8,569)
Total	$ 101,331

Accrued and Other Current Lia_3

Accrued and Other Current Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Accrued Liabilities, Current [Abstract]
Fair value of derivative instruments	$ 49,774	$ 111,252
Payroll and related accruals	81,377	99,885
Deferred revenue	66,432	69,000
Accrued expenses	70,007	62,469
Other liabilities	62,819	59,187
Operating lease liabilities	22,268	22,220
Cash collateral	5,440	21,755
Income taxes payable	12,475	13,980
Accrued royalties	9,699	12,877
Accrued contingent consideration and milestone payments	18,359	8,181
Accrued interest on long-term debt	8,518	5,431
Total accrued and other current liabilities	$ 407,168	$ 486,237

Derivatives and Hedging - Narra

Derivatives and Hedging - Narrative (Details) SFr in Millions	1 Months Ended		12 Months Ended
	Sep. 30, 2023 USD ($)	Sep. 30, 2022 EUR (€) derivative	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)	Dec. 31, 2023 EUR (€)	Sep. 30, 2023 CHF (SFr) derivative	Dec. 31, 2022 EUR (€)	Aug. 31, 2022 EUR (€)	Jul. 31, 2022 EUR (€)	Dec. 31, 2017 USD ($)	Dec. 31, 2015 EUR (€) derivative
Derivative [Line Items]
Face amount of debt instrument			$ 1,529,855,000	$ 1,911,459,000
Derivative gains included in accumulated other comprehensive income expected to be reclassified within twelve months			(2,100,000)
Gain on embedded derivative	$ 900,000
Cash Flow Hedge
Derivative [Line Items]
Number of new derivatives entered into | derivative		5
Cash convertible notes embedded cash conversion option
Derivative [Line Items]
Number of derivative instruments | derivative						2
German Private Corporate Bond (Schuldschein) | Private Placement Bond
Derivative [Line Items]
Face amount of debt instrument			121,009,000	116,821,000						$ 331,100,000
Unrealized gain (loss) recorded in equity			1,000,000
German Private Corporate Bond (Schuldschein) | Private Placement Bond | Designated as Hedging Instrument
Derivative [Line Items]
Face amount of debt instrument | €					€ 109,500,000		€ 255,000,000
Unrealized gain (loss) recorded in equity			(35,200,000)	(22,600,000)
German Private Placement (2022 Schuldschein) | Private Placement Bond
Derivative [Line Items]
Face amount of debt instrument			408,846,000	394,638,000				€ 370,000,000
Unrealized gain (loss) recorded in equity			(36,200,000)
German Private Placement (2022 Schuldschein) | Private Placement Bond | Designated as Hedging Instrument
Derivative [Line Items]
Face amount of debt instrument | €									€ 370,000,000
Interest Rate Swap | Cash Flow Hedge
Derivative [Line Items]
Derivative asset notional amount | SFr						SFr 542
Interest Rate Swap | Designated as Hedging Instrument
Derivative [Line Items]
Unrealized gain (loss) recorded in equity				5,800,000
Derivative asset notional amount | €		€ 135,000,000
Interest Rate Swap | Derivative Contracts 2015
Derivative [Line Items]
Derivative asset notional amount | €											€ 180,000,000
Number of derivative instruments | derivative											5
Foreign Exchange Contracts | Undesignated Derivative Instruments
Derivative [Line Items]
Notional amount			590,900,000	466,000,000
Accrued and Other Current Liabilities
Derivative [Line Items]
Derivative liability fair value			(5,400,000)	(21,800,000)
Prepaid Expenses and Other Current Assets
Derivative [Line Items]
Derivative asset fair value			87,700,000	21,100,000
Prepaid Expenses and Other Current Assets | Interest Rate Swap | Cash Flow Hedge
Derivative [Line Items]
Interest receivable			$ 8,400,000	$ 5,500,000

Derivatives and Hedging - Summa

Derivatives and Hedging - Summary of Fair Value Amounts of Derivative Instruments (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Derivative [Line Items]
Current asset	$ 43,230	$ 111,617
Long-term asset	3,083	131,354
Current liability	(49,774)	(111,252)
Long-term liability	(98,908)	(156,718)
Derivative instruments designated as hedges
Derivative [Line Items]
Current asset	0	0
Long-term asset	3,083	12,256
Current liability	0	0
Long-term liability	(98,908)	(36,982)
Derivative instruments designated as hedges | Interest rate contracts | Cash Flow Hedge
Derivative [Line Items]
Current asset	0	0
Long-term asset	3,083	12,256
Current liability	0	0
Long-term liability	(98,908)	(36,982)
Undesignated derivative instruments
Derivative [Line Items]
Current asset	43,230	111,617
Long-term asset	0	119,098
Current liability	(49,774)	(111,252)
Long-term liability	0	(119,736)
Undesignated derivative instruments | Equity options
Derivative [Line Items]
Current asset	39,759	102,671
Long-term asset	0	119,098
Undesignated derivative instruments | Cash convertible notes embedded conversion option
Derivative [Line Items]
Current liability	(39,830)	(102,896)
Long-term liability	0	(119,736)
Undesignated derivative instruments | Foreign exchange forwards and options
Derivative [Line Items]
Current asset	3,471	8,946
Long-term asset	0	0
Current liability	(9,944)	(8,356)
Long-term liability	$ 0	$ 0

Derivatives and Hedging - Sum_2

Derivatives and Hedging - Summary of the Classification of Gains and Losses on Derivative Instruments (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Derivative Instruments, Gain (Loss) [Line Items]
Total amounts presented in the Consolidated Statements of Income in which the effects of cash flow and fair value hedges are recorded	$ (5,711)	$ 6,741	$ 40,671
Gains (losses) on derivatives in cash flow hedges:
Amount of gain (loss) reclassified from accumulated other comprehensive loss	$ (49,417)	$ (21,940)	$ 17,010
Gains (losses) on derivatives not designated as hedging instruments:
Derivative, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]	Total amounts presented in the Consolidated Statements of Income in which the effects of cash flow and fair value hedges are recorded	Total amounts presented in the Consolidated Statements of Income in which the effects of cash flow and fair value hedges are recorded	Total amounts presented in the Consolidated Statements of Income in which the effects of cash flow and fair value hedges are recorded
Total gains (losses) on derivative instruments	$ 58,781	$ 95,007	$ (2,405)
Derivative instruments designated as hedges | Other (expense) income, net
Gains (losses) on derivatives in cash flow hedges:
Amount of gain (loss) reclassified from accumulated other comprehensive loss	66,600	21,940	(17,010)
Amounts excluded from effectiveness testing	0	0	0
Derivative instruments designated as hedges | Interest rate contracts | Other (expense) income, net
Gains (losses) on derivatives in fair value hedges:
Hedged item	0	1,971	3,072
Derivatives designated as hedging instruments	0	(1,971)	(3,072)
Undesignated derivative instruments | Equity options | Other (expense) income, net
Gains (losses) on derivatives not designated as hedging instruments:
Gains (losses) on derivatives not designated as hedging instruments	(182,011)	(130,801)	(23,882)
Undesignated derivative instruments | Cash convertible notes embedded cash conversion option | Other (expense) income, net
Gains (losses) on derivatives not designated as hedging instruments:
Gains (losses) on derivatives not designated as hedging instruments	182,802	131,227	28,154
Undesignated derivative instruments | Foreign exchange forwards and options | Other (expense) income, net
Gains (losses) on derivatives not designated as hedging instruments:
Gains (losses) on derivatives not designated as hedging instruments	$ (8,610)	$ 72,641	$ 10,333

Financial Instruments and Fai_3

Financial Instruments and Fair Value Measurements - Fair Value Hierarchy for Financial Assets and Liabilities Measured on a Recurring Basis (Details) - Recurring Basis - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Assets:
Cash equivalents	$ 491,342	$ 384,222
Foreign exchange forwards and options	3,471	8,946
Total financial assets	623,113	1,305,119
Liabilities:
Foreign exchange forwards and options	(9,944)	(8,356)
Contingent consideration	(18,359)	(18,088)
Total financial liabilities	(167,041)	(286,058)
Short-term investments
Assets:
Fair value of investment	81,023	672,597
Non-marketable equity securities
Assets:
Fair value of investment	4,435	5,329
Equity options
Assets:
Derivative assets	39,759	221,769
Liabilities:
Derivative liabilities		(222,632)
Cash convertible notes embedded cash conversion option
Liabilities:
Derivative liabilities	(39,830)
Interest rate contracts
Assets:
Interest rate contracts - cash flow hedge	3,083	12,256
Liabilities:
Interest rate contracts - cash flow hedge	(98,908)	(36,982)
Level 1
Assets:
Cash equivalents	481,360	289,394
Foreign exchange forwards and options	0	0
Total financial assets	481,360	368,994
Liabilities:
Foreign exchange forwards and options	0	0
Contingent consideration	0	0
Total financial liabilities	0	0
Level 1 | Short-term investments
Assets:
Fair value of investment	0	79,600
Level 1 | Non-marketable equity securities
Assets:
Fair value of investment	0	0
Level 1 | Equity options
Assets:
Derivative assets	0	0
Level 1 | Cash convertible notes embedded cash conversion option
Liabilities:
Derivative liabilities	0	0
Level 1 | Interest rate contracts
Assets:
Interest rate contracts - cash flow hedge	0	0
Liabilities:
Interest rate contracts - cash flow hedge	0	0
Level 2
Assets:
Cash equivalents	9,982	94,828
Foreign exchange forwards and options	3,471	8,946
Total financial assets	137,318	930,796
Liabilities:
Foreign exchange forwards and options	(9,944)	(8,356)
Contingent consideration	0	0
Total financial liabilities	(148,682)	(267,970)
Level 2 | Short-term investments
Assets:
Fair value of investment	81,023	592,997
Level 2 | Non-marketable equity securities
Assets:
Fair value of investment	0	0
Level 2 | Equity options
Assets:
Derivative assets	39,759	221,769
Level 2 | Cash convertible notes embedded cash conversion option
Liabilities:
Derivative liabilities	(39,830)	(222,632)
Level 2 | Interest rate contracts
Assets:
Interest rate contracts - cash flow hedge	3,083	12,256
Liabilities:
Interest rate contracts - cash flow hedge	(98,908)	(36,982)
Level 3
Assets:
Cash equivalents	0	0
Foreign exchange forwards and options	0	0
Total financial assets	4,435	5,329
Liabilities:
Foreign exchange forwards and options	0	0
Contingent consideration	(18,359)	(18,088)
Total financial liabilities	(18,359)	(18,088)
Level 3 | Short-term investments
Assets:
Fair value of investment	0	0
Level 3 | Non-marketable equity securities
Assets:
Fair value of investment	4,435	5,329
Level 3 | Equity options
Assets:
Derivative assets	0	0
Level 3 | Cash convertible notes embedded cash conversion option
Liabilities:
Derivative liabilities	0	0
Level 3 | Interest rate contracts
Assets:
Interest rate contracts - cash flow hedge	0	0
Liabilities:
Interest rate contracts - cash flow hedge	$ 0	$ 0

Financial Instruments and Fai_4

Financial Instruments and Fair Value Measurements - Narrative (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)
Recurring Basis
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Contingent consideration	$ 18,359	$ 18,088
Level 3 | Recurring Basis
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Contingent consideration, current	(18,400)
Contingent consideration	18,359	18,088
Level 3 | Recurring Basis | Accrued and Other Liabilities, Current
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Contingent consideration, current	$ (18,400)	(8,200)
Level 3 | Recurring Basis | Other Long-Term Liabilities
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Contingent consideration, noncurrent		$ 9,900
Minimum
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Rate of achievement of milestones rate	0%
Minimum | Valuation, Income Approach | Discount Rate
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Contingent consideration measurement input for analysis of achievement of future milestones	0.065
Maximum
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Rate of achievement of milestones rate	100%
Maximum | Valuation, Income Approach | Discount Rate
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Contingent consideration measurement input for analysis of achievement of future milestones	0.066

Financial Instruments and Fai_5

Financial Instruments and Fair Value Measurements - Summary of Activity for Liabilities with Level 3 Inputs (Details) - Level 3 - Recurring Basis - Contingent consideration - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance	$ (18,088)	$ (24,100)
Changes in fair value	(271)	112
Payments	0	5,900
Balance	$ (18,359)	$ (18,088)

Debt - Narrative (Details)

Debt - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Debt Disclosure [Abstract]
Deferred finance costs	$ 4	$ 6.6
Interest expense on long-term debt	$ 52.4	$ 55.1	$ 50.7

Debt - Total Long-term Debt, Ne

Debt - Total Long-term Debt, Net of Debt Issuance Costs (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022	Dec. 17, 2020
Debt Instrument [Line Items]
Total long-term debt	$ 1,509,794	$ 1,861,450
Less: Current portion	587,970	389,552
Long-term debt, net of current portion	$ 921,824	1,471,898
Senior Unsecured Notes | 0.500% Senior Unsecured Cash Convertible Notes due 2023
Debt Instrument [Line Items]
Stated interest rate	0.50%
Total long-term debt	$ 0	389,552
Senior Unsecured Notes | 1.000% Senior Unsecured Cash Convertible Notes due 2024
Debt Instrument [Line Items]
Stated interest rate	1%
Total long-term debt	$ 483,019	464,331
Senior Unsecured Notes | 0.000% Senior Unsecured Convertible Notes due 2027
Debt Instrument [Line Items]
Stated interest rate	0%		0%
Total long-term debt	$ 497,869	497,336
Private Placement | German Private Placement (2017 Schuldschein)
Debt Instrument [Line Items]
Total long-term debt	120,956	116,699
Private Placement | German Private Placement (2022 Schuldschein)
Debt Instrument [Line Items]
Total long-term debt	$ 407,950	$ 393,532

Debt - Repayments of Long-term

Debt - Repayments of Long-term Debt (Details) - USD ($) $ in Thousands	1 Months Ended	3 Months Ended	12 Months Ended
	Oct. 31, 2022	Mar. 31, 2021	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Oct. 16, 2012
Debt Instrument [Line Items]
Repayment of long-term debt			$ 400,000	$ 480,003	$ 41,345
Private Placement Bond | German Private Placement (2017 Schuldschein)
Debt Instrument [Line Items]
Repayment of long-term debt	$ 153,000	$ 41,100	$ 0	153,003	41,145
Senior Unsecured Notes | 0.500% Senior Unsecured Cash Convertible Notes due 2023
Debt Instrument [Line Items]
Stated interest rate			0.50%
Repayment of long-term debt			$ 400,000	0	0
Senior Unsecured Notes | 0.875% Senior Unsecured Cash Convertible Notes due 2021
Debt Instrument [Line Items]
Stated interest rate			0.875%
Repayment of long-term debt			$ 0	0	200
Senior Unsecured Notes | 3.75% Series B Senior Notes due October 16, 2022
Debt Instrument [Line Items]
Stated interest rate			3.75%			3.75%
Repayment of long-term debt			$ 0	300,000	0
Senior Unsecured Notes | 3.90% Series C Senior Notes due October 16, 2024
Debt Instrument [Line Items]
Stated interest rate			3.90%			3.90%
Repayment of long-term debt			$ 0	$ 27,000	$ 0

Debt - Principal Amount, Carryi

Debt - Principal Amount, Carrying Amount and Fair values of Long-term Debt (Details) € in Millions	Dec. 31, 2023 EUR (€)	Dec. 31, 2023 USD ($)	Dec. 31, 2022 EUR (€)	Dec. 31, 2022 USD ($)	Aug. 31, 2022 EUR (€)	Jul. 31, 2022 EUR (€)	Dec. 17, 2020 USD ($)	Dec. 31, 2017 USD ($)	Dec. 31, 2014 USD ($)
Debt Instrument [Line Items]
Principal amount		$ 1,529,855,000		$ 1,911,459,000
Unamortized debt discount and issuance costs		(20,061,000)		(50,009,000)
Long-term debt		1,509,794,000		1,861,450,000
Fair value		1,487,347,000		2,052,169,000
German Private Placement (2017 Schuldschein) | Level 2
Debt Instrument [Line Items]
Fair value				112,401,000
Senior Unsecured Notes | Derivative instruments designated as hedges
Debt Instrument [Line Items]
Principal amount									$ 200,000,000
Senior Unsecured Notes | Cash Convertible Notes due 2023
Debt Instrument [Line Items]
Principal amount				400,000,000
Unamortized debt discount and issuance costs				(10,448,000)
Long-term debt		0		389,552,000
Senior Unsecured Notes | Cash Convertible Notes due 2023 | Level 1
Debt Instrument [Line Items]
Fair value				493,436,000
Senior Unsecured Notes | Cash Convertible Notes due 2024
Debt Instrument [Line Items]
Principal amount		500,000,000		500,000,000
Unamortized debt discount and issuance costs		(16,981,000)		(35,669,000)
Long-term debt		483,019,000		464,331,000
Senior Unsecured Notes | Cash Convertible Notes due 2024 | Level 1
Debt Instrument [Line Items]
Fair value		513,500,000		596,485,000
Senior Unsecured Notes | Convertible Notes due 2027
Debt Instrument [Line Items]
Principal amount		500,000,000		500,000,000			$ 500,000,000
Unamortized debt discount and issuance costs		(2,131,000)		(2,664,000)
Long-term debt		497,869,000		497,336,000
Senior Unsecured Notes | Convertible Notes due 2027 | Level 1
Debt Instrument [Line Items]
Fair value		453,185,000		471,545,000
Private Placement Bond | German Private Placement (2017 Schuldschein)
Debt Instrument [Line Items]
Principal amount		121,009,000		116,821,000				$ 331,100,000
Unamortized debt discount and issuance costs		(53,000)		(122,000)
Long-term debt		120,956,000		116,699,000
Private Placement Bond | German Private Placement (2017 Schuldschein) | Derivative instruments designated as hedges
Debt Instrument [Line Items]
Principal amount | €	€ 109.5		€ 255
Private Placement Bond | German Private Placement (2017 Schuldschein) | Level 2
Debt Instrument [Line Items]
Fair value		118,978,000
Private Placement Bond | German Private Placement (2022 Schuldschein)
Debt Instrument [Line Items]
Principal amount		408,846,000		394,638,000	€ 370
Unamortized debt discount and issuance costs		(896,000)		(1,106,000)
Long-term debt		407,950,000		393,532,000
Private Placement Bond | German Private Placement (2022 Schuldschein) | Derivative instruments designated as hedges
Debt Instrument [Line Items]
Principal amount | €						€ 370
Private Placement Bond | German Private Placement (2022 Schuldschein) | Level 2
Debt Instrument [Line Items]
Fair value		$ 401,684,000		$ 378,302,000

Debt - Future Maturities of Lon

Debt - Future Maturities of Long-Term Debt (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Debt Instruments [Abstract]
2024	$ 587,970
2025	56,836
2026	0
2027	614,800
2028	0
Thereafter	250,188
Total long-term debt	$ 1,509,794	$ 1,861,450

Debt - Interest Expense Related

Debt - Interest Expense Related to the Cash Convertible Notes (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Debt Instrument [Line Items]
Amortization of debt issuance costs	$ 30,162	$ 33,701	$ 32,294
Cash convertible notes
Debt Instrument [Line Items]
Coupon interest	4,169	7,000
Amortization of original issuance discount	27,341	30,170
Amortization of debt issuance costs	2,328	2,593
Total interest expense related to the convertible notes	$ 33,838	$ 39,763

Debt - Convertible Notes due 20

Debt - Convertible Notes due 2027 (Details) $ / shares in Units, $ in Thousands, equityInstrument in Millions		1 Months Ended
	Dec. 17, 2020 USD ($) equityInstrument tradingDay $ / shares	Jan. 31, 2024 $ / shares	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)	Jan. 01, 2021 USD ($)	Dec. 31, 2020 USD ($)
Debt Instrument [Line Items]
Face amount of debt instrument			$ 1,529,855	$ 1,911,459
Equity			3,807,764	3,466,611	$ 3,096,550		$ 2,797,839
Additional paid-in capital
Debt Instrument [Line Items]
Equity			1,915,115	1,868,015	1,818,508		1,834,169
Retained earnings
Debt Instrument [Line Items]
Equity			$ 2,456,800	2,160,173	$ 1,791,740		1,323,091
Impact of Change in Accounting Policy
Debt Instrument [Line Items]
Equity							(53,789)
Impact of Change in Accounting Policy | Additional paid-in capital
Debt Instrument [Line Items]
Equity						$ (54,100)	(54,052)
Impact of Change in Accounting Policy | Retained earnings
Debt Instrument [Line Items]
Equity						$ 300	263
Convertible Notes due 2027 | Senior Unsecured Notes
Debt Instrument [Line Items]
Stated interest rate	0%		0%
Face amount of debt instrument	$ 500,000		$ 500,000	$ 500,000
Net proceeds from the issuance of convertible debt	497,600
Payments of debt issuance costs	$ 3,700
Liability component of convertible debt							445,900
Equity component of convertible debt							$ 54,100
Effective interest rate	1.65%
Conversion rate	0.01238825
Conversion price (in USD per share) | $ / shares	$ 80.7218
Shares underlying conversion (in shares) | equityInstrument	6.2
Threshold trading days | tradingDay	20
Consecutive trading days | tradingDay	30
Threshold percentage of stock price trigger	130%
Threshold days for parity event or trading price unavailability event	10 days
Threshold percentage of average daily volume-weighted average trading price of common stock	25%
Convertible Notes due 2027 | Senior Unsecured Notes | Subsequent Event
Debt Instrument [Line Items]
Conversion rate		0.0123763
Conversion price (in USD per share) | $ / shares		$ 80.7996

Debt - Cash Convertible Notes d

Debt - Cash Convertible Notes due 2023 and 2024 (Details) - Cash convertible notes			12 Months Ended
	Nov. 13, 2018 USD ($)	Sep. 13, 2017 USD ($)	Dec. 31, 2023 tradingDay	Dec. 31, 2018	Dec. 31, 2017
Debt Instrument [Line Items]
Threshold trading days | tradingDay			20
Consecutive trading days | tradingDay			30
Threshold percentage of stock price trigger			130%
Threshold percentage of average daily volume-weighted average trading price of common stock			25%
Cash settlement amount period			50 days
Redemption price percentage			100%
Percentage of principal amount outstanding			20%
Cash Convertible Notes due 2023
Debt Instrument [Line Items]
Convertible debt		$ 400,000,000
Proceeds from issuance of debt		$ 365,600,000
Threshold business period			10 days
Term of debt instrument		6 years
Effective interest rate					3.997%
Debt issuance cost		$ 6,200,000
Cash Convertible Notes due 2023 | Call Options
Debt Instrument [Line Items]
Derivative liability fair value		$ 74,500,000
2024 Notes
Debt Instrument [Line Items]
Convertible debt	$ 500,000,000
Proceeds from issuance of debt	$ 468,900,000
Threshold business period			10 days
Term of debt instrument	6 years
Effective interest rate				4.782%
Debt issuance cost	$ 5,700,000
2024 Notes | Call Options
Debt Instrument [Line Items]
Derivative liability fair value	$ 98,500,000

Debt - Interest Rate, Correspon

Debt - Interest Rate, Corresponding Maturities, and Contingent Conversion Periods of Cash Convertible Notes (Details) - Cash convertible notes - 2024 Notes	1 Months Ended	12 Months Ended
	Jan. 31, 2024	Dec. 31, 2023
Debt Instrument [Line Items]
Annual interest rate		1%
Conversion rate per $200,000 principal amount		0.021801549
Subsequent Event
Debt Instrument [Line Items]
Conversion rate per $200,000 principal amount	0.0217842655

Debt - Cash Convertible Notes C

Debt - Cash Convertible Notes Call Spread Overlay (Details) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Dec. 31, 2023	Sep. 30, 2023	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Debt Instrument [Line Items]
Cash received upon the exercise of call options			$ 36,762	$ 0	$ 0
Cash paid for the intrinsic value of the embedded cash conversion option			$ 36,762	$ 0	$ 0
Call Options | Cash convertible notes | 0.500% Senior Unsecured Cash Convertible Notes due 2023
Debt Instrument [Line Items]
Cash received upon the exercise of call options		$ 36,800
Cash paid for the intrinsic value of the embedded cash conversion option	$ 36,800

Debt - Private Placement and Ge

Debt - Private Placement and German Private Placement (Schuldschein) Narrative (Details) € in Millions		1 Months Ended	3 Months Ended	12 Months Ended
	Oct. 16, 2012 USD ($) series	Oct. 31, 2022 USD ($)	Mar. 31, 2021 USD ($)	Dec. 31, 2023 EUR (€)	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)	Dec. 31, 2019 USD ($)	Aug. 31, 2022 EUR (€)	Aug. 31, 2022 USD ($)	Dec. 31, 2017 USD ($)
Debt Instrument [Line Items]
Face amount of debt instrument					$ 1,529,855,000	$ 1,911,459,000
Number of series of notes issued | series	3
Repayment of long-term debt					$ 400,000,000	480,003,000	$ 41,345,000
German Private Placement (2022 Schuldschein) | August 2035
Debt Instrument [Line Items]
Stated interest rate					3.04%
Notional amount | €				€ 70
Interest rate increase (decrease) for ESG rating				0.025%	0.025%
Senior Unsecured Notes | Series A, Series B and Series C Private Placement Notes
Debt Instrument [Line Items]
Face amount of debt instrument	$ 400,000,000
Weighted average interest rate of long-term debt	3.66%
Debt issuance cost	$ 2,100,000
Senior Unsecured Notes | Series A Private Placement Notes
Debt Instrument [Line Items]
Face amount of debt instrument	$ 73,000,000
Term of debt instrument	7 years
Stated interest rate	3.19%
Repayment of long-term debt						127,000,000		$ 73,000,000
Senior Unsecured Notes | Series B Private Placement Notes
Debt Instrument [Line Items]
Face amount of debt instrument	$ 300,000,000
Term of debt instrument	10 years
Stated interest rate	3.75%				3.75%
Repayment of long-term debt					$ 0	300,000,000	0
Senior Unsecured Notes | Series C Private Placement Notes
Debt Instrument [Line Items]
Face amount of debt instrument	$ 27,000,000
Term of debt instrument	12 years
Stated interest rate	3.90%				3.90%
Repayment of long-term debt					$ 0	27,000,000	0
Private Placement Bond | German Private Placement (2017 Schuldschein)
Debt Instrument [Line Items]
Face amount of debt instrument					121,009,000	116,821,000					$ 331,100,000
Debt issuance cost											$ 1,200,000
Repayment of long-term debt		$ 153,000,000	$ 41,100,000		0	153,003,000	$ 41,145,000
Unrealized gain (loss) recorded in equity					1,000,000
Private Placement Bond | German Private Placement (2022 Schuldschein)
Debt Instrument [Line Items]
Face amount of debt instrument					408,846,000	$ 394,638,000			€ 370
Debt issuance cost										$ 1,200,000
Unrealized gain (loss) recorded in equity					$ (36,200,000)

Debt - Summary of German Privat

Debt - Summary of German Private Placement Tranches (Details) $ in Thousands, € in Millions	12 Months Ended
	Dec. 31, 2023 EUR (€)	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)
Net Investment Hedging
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Carrying value		$ 407,950	$ 393,532
German Private Placement (2017 Schuldschein) | Net Investment Hedging
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Carrying value		$ 120,956	116,699
June 2024 | German Private Placement (2017 Schuldschein) | Net Investment Hedging
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Notional amount | €	€ 64
Interest rate		1.09%
Carrying value		$ 70,704	68,215
June 2024 | German Private Placement (2017 Schuldschein) | Net Investment Hedging
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Notional amount | €	€ 31
Carrying value		$ 34,247	33,041
June 2024 | EURIBOR | German Private Placement (2017 Schuldschein) | Net Investment Hedging
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Interest rate	0.70%
June 2027 | German Private Placement (2017 Schuldschein) | Net Investment Hedging
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Notional amount | €	€ 14.5
Interest rate		1.61%
Carrying value		$ 16,005	15,443
July 2025 | German Private Placement (2022 Schuldschein) | Net Investment Hedging
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Notional amount | €	€ 51.5
Carrying value		$ 56,836	54,803
July 2025 | EURIBOR | German Private Placement (2022 Schuldschein) | Net Investment Hedging
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Interest rate	0.55%
July 2027 | German Private Placement (2022 Schuldschein) | Net Investment Hedging
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Notional amount | €	€ 62
Interest rate		2.741%
Carrying value		$ 68,388	65,967
July 2027 | German Private Placement (2022 Schuldschein) | Net Investment Hedging
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Notional amount | €	€ 29.5
Carrying value		32,539	31,388
July 2027 | EURIBOR | German Private Placement (2022 Schuldschein) | Net Investment Hedging
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Interest rate	0.70%
July 2029 | German Private Placement (2022 Schuldschein) | Net Investment Hedging
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Notional amount | €	€ 37
Carrying value		$ 40,803	39,365
July 2029 | EURIBOR | German Private Placement (2022 Schuldschein) | Net Investment Hedging
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Interest rate		3.044%
July 2029 | German Private Placement (2022 Schuldschein) | Net Investment Hedging
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Notional amount | €	€ 103
Carrying value		$ 113,586	109,585
July 2029 | EURIBOR | German Private Placement (2022 Schuldschein) | Net Investment Hedging
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Interest rate	0.85%
July 2032 | German Private Placement (2022 Schuldschein) | Net Investment Hedging
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Notional amount | €	€ 9.5
Interest rate		3.386%
Carrying value		$ 10,475	10,107
July 2032 | German Private Placement (2022 Schuldschein) | Net Investment Hedging
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Notional amount | €	€ 7.5
Carrying value		$ 8,269	7,979
July 2032 | EURIBOR | German Private Placement (2022 Schuldschein) | Net Investment Hedging
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Interest rate	1%
August 2035 | German Private Placement (2022 Schuldschein)
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Notional amount | €	€ 70
Interest rate		3.04%
August 2035 | German Private Placement (2022 Schuldschein) | Net Investment Hedging
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Notional amount | €	€ 70
Interest rate		3.04%
Carrying value		$ 77,054	$ 74,338

Debt - Revolving Credit Facilit

Debt - Revolving Credit Facility (Details) - 12 months ended Dec. 31, 2023 € in Millions	USD ($) lineOfCredit	EUR (€)	USD ($)
Debt Instrument [Line Items]
Credit facilities available and undrawn		€ 413	$ 456,400,000
Amounts utilized under credit facilities | $			$ 0
Revolving Credit Facility | ESG-Linked Revolving Credit Facility
Debt Instrument [Line Items]
Credit facilities available and undrawn | €		400
Commitment fee calculation basis on applicable margin, percent	35%
Commitment fee paid | $	$ 900,000
Revolving Credit Facility | ESG-Linked Revolving Credit Facility | Interest Rate Period 1
Debt Instrument [Line Items]
Interest period length	1 month
Revolving Credit Facility | ESG-Linked Revolving Credit Facility | Interest Rate Period 2
Debt Instrument [Line Items]
Interest period length	3 months
Revolving Credit Facility | ESG-Linked Revolving Credit Facility | Interest Rate Period 3
Debt Instrument [Line Items]
Interest period length	6 months
Revolving Credit Facility | ESG-Linked Revolving Credit Facility | EURIBOR | Minimum
Debt Instrument [Line Items]
Interest rate	0.55%
Revolving Credit Facility | ESG-Linked Revolving Credit Facility | EURIBOR | Maximum
Debt Instrument [Line Items]
Interest rate	1.50%
Line of Credit
Debt Instrument [Line Items]
Credit facilities available and undrawn | €		€ 13
Number of lines of credit | lineOfCredit	2

Income Taxes - Income Before In

Income Taxes - Income Before Income Taxes (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Income Tax Disclosure [Abstract]
Pretax income in the Netherlands	$ 18,591	$ 14,551	$ 7,062
Pretax income from foreign operations	411,218	498,050	618,771
Income before income tax expense	$ 429,809	$ 512,601	$ 625,833

Income Taxes - Provision for In

Income Taxes - Provision for Income Taxes (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Current:
The Netherlands	$ 11,393	$ 9,672	$ 1,714
Foreign	66,382	89,321	116,808
Provision for income tax current, total	77,775	98,993	118,522
Deferred:
The Netherlands	(5,535)	(683)	(1,776)
Foreign	16,266	(8,920)	(3,512)
Provision for income tax deferred, total	10,731	(9,603)	(5,288)
Total income tax expense	$ 88,506	$ 89,390	$ 113,234

Income Taxes - Narrative (Detai

Income Taxes - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Operating Loss Carryforwards [Line Items]
The Netherlands statutory income tax rate	25.80%	25.80%	25%
Unrecognized tax benefit, net	$ 95,600	$ 79,300
Unrecognized tax benefits which may be realized	30,800
Recognized interest (income) expense	(400)	(400)	$ (600)
Accrued interest and penalties	3,300	3,500
Total foreign net operating losses	486,400
Tax credits	6,700
Earnings retained by subsidiaries and equity accounted investments	1,200,000
Undistributed earnings not permanently reinvested	14,500
Deferred tax liabilities on unremitted earnings of certain subsidiary	700	1,000
Other Long-Term Assets
Operating Loss Carryforwards [Line Items]
Deferred tax assets	38,600	56,300
Other Long-Term Liabilities
Operating Loss Carryforwards [Line Items]
Deferred tax liabilities	12,800	17,500
Additional paid-in capital
Operating Loss Carryforwards [Line Items]
Increase (decrease) in the valuation allowance	0	$ 0	13,513
Additional paid-in capital | Convertible Notes due 2027
Operating Loss Carryforwards [Line Items]
Increase (decrease) in the valuation allowance			$ 13,500
U.S.
Operating Loss Carryforwards [Line Items]
Operating loss carryforwards	144,100
Germany
Operating Loss Carryforwards [Line Items]
Operating loss carryforwards	237,300
UK
Operating Loss Carryforwards [Line Items]
Operating loss carryforwards	30,500
Netherlands
Operating Loss Carryforwards [Line Items]
Operating loss carryforwards	15,200
Other Foreign Tax Authorities
Operating Loss Carryforwards [Line Items]
Operating loss carryforwards	59,300
Operating loss carryforwards not set to expire	$ 21,300

Income Taxes - Difference Betwe

Income Taxes - Difference Between Income Taxes Computed at Statutory Rate and Reported Income Taxes and Effective Tax Rate (Details)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Percent
The Netherlands' statutory income tax rate	25.80%	25.80%	25%
Taxation of foreign operations, net	(7.60%)	(4.90%)	(3.00%)
Unrecognized tax benefits	3.10%	0.90%	1.60%
Excess tax benefit related to share-based compensation	(0.30%)	(0.50%)	(1.00%)
Prior year taxes	0.30%	(1.10%)	0.60%
Government incentives	(1.00%)	(0.50%)	(0.60%)
Changes in tax laws and rates	0.20%	(0.20%)	(0.40%)
Tax impact from nondeductible (deductible) items	1.30%	(1.90%)	0.20%
Valuation allowance	(1.80%)	0%	(4.40%)
Other items, net	0.60%	(0.20%)	0.10%
Effective tax rate	20.60%	17.40%	18.10%

Income Taxes - Changes in Amoun

Income Taxes - Changes in Amounts of Unrecognized Tax Benefits (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]
Balance at beginning of year	$ 79,283	$ 103,618	$ 100,092
Additions based on tax positions related to the current year	9,632	9,754	6,629
Additions for tax positions of prior years	7,839	4,544	5,036
Decrease for tax position of prior years	(3,832)	(8,958)	(266)
Decrease related to settlements	(119)	(23,346)	0
Decrease due to lapse of statute of limitations	0	(580)	(344)
Increase (decrease) from currency translation	2,755	(5,749)	(7,529)
Balance at end of year	$ 95,558	$ 79,283	$ 103,618

Income Taxes - Components of Ne

Income Taxes - Components of Net Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Deferred tax asset (liability)
Net operating loss and tax credit carryforwards	$ 42,944	$ 53,155
Intangible assets	30,084	33,510
Accrued and other liabilities	25,375	27,544
Share-based compensation	25,598	21,792
Property, plant and equipment	2,249	4,032
Convertible notes	2,173	3,621
Inventories	4,268	3,003
Disallowed interest carryforwards	1,157	1,511
Other	7,133	6,479
Total deferred tax assets before valuation allowance	140,981	154,647
Valuation allowance	(13,214)	(21,265)	$ (21,326)	$ (37,332)
Total deferred tax assets, after valuation allowance	127,767	133,382
Intangible assets	(50,723)	(55,921)
Property, plant and equipment	(46,536)	(33,847)
Inventories	(579)	(820)
Other	(4,178)	(3,997)
Total deferred tax liabilities	(102,016)	(94,585)
Deferred tax assets, net	$ 25,751	$ 38,797

Income Taxes - Changes in the V

Income Taxes - Changes in the Valuation Allowance (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at beginning of year	$ 21,265	$ 21,326	$ 37,332
Balance at end of year	13,214	21,265	21,326
Additions charged to income tax expense
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Increase (decrease) in the valuation allowance	(2,015)	(4,470)	(620)
Deductions charged to income tax expense
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Increase (decrease) in the valuation allowance	9,719	4,287	28,251
Additions charged to additional paid-in capital
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Increase (decrease) in the valuation allowance	0	0	(13,513)
Currency translation
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Increase (decrease) in the valuation allowance	$ 347	$ 244	$ 1,888

Equity - Shares (Details)

Equity - Shares (Details)	Dec. 31, 2023 € / shares shares
Equity [Abstract]
Common shares, shares authorized (in shares)	410,000,000
Preference shares, shares authorized (in shares)	450,000,000
Financing preference shares, shares authorized (in shares)	40,000,000
Common shares, par value (in EUR per share) | € / shares	€ 0.01

Equity - Synthetic Share Repurc

Equity - Synthetic Share Repurchase (Details) - Subsequent Event shares in Millions, $ in Millions	1 Months Ended
	Jan. 31, 2024 USD ($) shares
Subsequent Event [Line Items]
Synthetic share repurchase, return to shareholders | $	$ 295.2
Synthetic share repurchases, reduction in number of common shares outstanding, percent	(3.00%)
Common stock, shares outstanding (in shares)	223.9
Treasury shares
Subsequent Event [Line Items]
Common stock, shares outstanding (in shares)	2.5

Equity - Issuance and Conversio

Equity - Issuance and Conversion of Warrants (Details) - Cash convertible notes - USD ($) $ / shares in Units, shares in Millions, $ in Millions		12 Months Ended
	Nov. 13, 2018	Dec. 31, 2017	Jan. 31, 2024	Sep. 13, 2017
2023 Notes
Class of Stock [Line Items]
Number of share warrants (in shares)				9.7
Exercise price per share (in USD per share)				$ 49.9775
Proceeds from issuance of warrants, net of issuance costs		$ 45.3
2024 Notes
Class of Stock [Line Items]
Number of share warrants (in shares)	10.9
Exercise price per share (in USD per share)	$ 50.2947
Proceeds from issuance of warrants, net of issuance costs	$ 72.4
2024 Notes | Subsequent Event
Class of Stock [Line Items]
Exercise price per share (in USD per share)			$ 50.3346

Equity - Share Repurchase Progr

Equity - Share Repurchase Program (Details) - USD ($) shares in Millions	4 Months Ended	12 Months Ended
	Oct. 29, 2021	Dec. 31, 2021	Jul. 12, 2021
Equity, Class of Treasury Stock [Line Items]
Purchase of treasury shares		$ (99,987,000)
Seventh Share Repurchase Program
Equity, Class of Treasury Stock [Line Items]
Amount authorized to repurchase shares			$ 100,000,000
Treasury shares repurchased (in shares)	1.9
Purchase of treasury shares	$ (100,000,000)

Equity - Accumulated Other Comp

Equity - Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Accumulated Other Comprehensive Income (Loss) [Line Items]
Equity	$ 3,807,764	$ 3,466,611	$ 3,096,550	$ 2,797,839
Foreign currency effects from intercompany long-term investment transactions, tax		13,200
Accumulated other comprehensive loss
Accumulated Other Comprehensive Income (Loss) [Line Items]
Equity	(433,830)	(404,091)	$ (326,670)	$ (243,822)
Net unrealized loss on hedging contracts, net of tax
Accumulated Other Comprehensive Income (Loss) [Line Items]
Equity	(37,372)	(15,637)
Net unrealized gain on pension, net of tax
Accumulated Other Comprehensive Income (Loss) [Line Items]
Equity	812	645
Foreign currency effects from intercompany long-term investment transactions, net of tax benefits of $13.2 million in 2023 and 2022
Accumulated Other Comprehensive Income (Loss) [Line Items]
Equity	(33,648)	(33,311)
Foreign currency effects from intercompany long-term investment transactions, tax	13,200
Foreign currency translation adjustments
Accumulated Other Comprehensive Income (Loss) [Line Items]
Equity	$ (363,622)	$ (355,788)

Earnings Per Common Share - Sum

Earnings Per Common Share - Summary of Computation of Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Net Income (Loss) Attributable to Parent	$ 341,303	$ 423,211	$ 512,599
Weighted average number of common shares used to compute basic earnings per common share (in shares)	228,146	227,577	227,983
Dilutive effect of outstanding stock options and restrictive stock units (in shares)	2,473	2,555	3,403
Dilutive effect of outstanding warrants (in shares)	0	4	648
Weighted average number of common shares used to compute diluted earnings per common share (in shares)	230,619	230,136	232,034
Basic earnings per common share (in USD per share)	$ 1.50	$ 1.86	$ 2.25
Diluted earnings per common share (in USD per share)	$ 1.48	$ 1.84	$ 2.21
Stock Options and Awards
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Outstanding securities having no dilutive effect, not included in above calculation (in shares)	1	146	8
Warrants
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Outstanding securities having no dilutive effect, not included in above calculation (in shares)	17,562	20,556	19,912

Commitments and Contingencies -

Commitments and Contingencies - Narrative (Details) $ in Thousands	1 Months Ended	12 Months Ended
	Aug. 31, 2021 USD ($) patent	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)
Loss Contingencies [Line Items]
Percentage of royalty on net product sales range, minimum		0.45%
Percentage of royalty on net product sales range, maximum		25%
Accrued royalties		$ 9,699	$ 12,877
Royalty expense related to agreements		13,900	15,500	$ 18,500
Total potential contingent consideration commitments		20,700
Commitment under employment contract agreements		11,500
Legal settlement accrual, noncurrent		4,700
Litigation Settlement | ArcherDx vs. QIAGEN
Loss Contingencies [Line Items]
Patents found infringed | patent	2
Damages awarded	$ 4,700
Litigation
Loss Contingencies [Line Items]
Legal settlements accrued		4,800	6,500
Litigation | Minimum
Loss Contingencies [Line Items]
Estimated possible litigation loss		4,000
Litigation | Maximum
Loss Contingencies [Line Items]
Estimated possible litigation loss		10,100
Level 3 | Recurring Basis
Loss Contingencies [Line Items]
Contingent consideration, current		18,400
Level 3 | Recurring Basis | Accrued and Other Liabilities, Current
Loss Contingencies [Line Items]
Contingent consideration, current		$ 18,400	$ 8,200

Commitments and Contingencies_2

Commitments and Contingencies - Commitments to Purchase Goods or Services and for Future License and Royalty Payments (Details) $ in Thousands	Dec. 31, 2023 USD ($)
Purchase commitments
2024	$ 37,396
2025	35,992
2026	13,150
2027	11,383
2028	903
Thereafter	0
Total	98,824
License & royalty commitments
2024	1,926
2025	1,453
2026	783
2027	766
2028	560
Thereafter	1,729
Total	$ 7,217

Commitments and Contingencies_3

Commitments and Contingencies - Changes in the Carrying Amount of Warranty Obligations (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Changes in the Carrying Amount of Warranty Obligations
Balance at beginning of year	$ 4,899	$ 6,324
Provision charged to cost of sales	3,947	4,606
Usage	(3,451)	(4,517)
Adjustments to previously provided warranties, net	(1,501)	(1,277)
Currency translation	50	(237)
Balance at end of year	$ 3,944	$ 4,899

Segment Information - Narrative

Segment Information - Narrative (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2023 USD ($) segment	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)
Revenues from External Customers and Long-Lived Assets [Line Items]
Number of operating segments | segment	1
Net sales	$ 1,965,311	$ 2,141,518	$ 2,251,657
Long-lived assets	765,037	662,170
Netherlands
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales	20,300	31,500	$ 28,300
Long-lived assets	$ 1,300	$ 1,100

Segment Information - Net Sales

Segment Information - Net Sales (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales	$ 1,965,311	$ 2,141,518	$ 2,251,657
Total Americas
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales	1,020,055	997,755	1,007,376
United States
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales	935,281	909,616	909,690
Other Americas
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales	84,774	88,139	97,686
Europe, Middle East and Africa
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales	624,573	733,469	814,417
Asia Pacific, Japan and Rest of World
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales	$ 320,683	$ 410,294	$ 429,864

Segment Information - Long-Live

Segment Information - Long-Lived Assets (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Revenues from External Customers and Long-Lived Assets [Line Items]
Long-lived assets	$ 765,037	$ 662,170
Total Americas
Revenues from External Customers and Long-Lived Assets [Line Items]
Long-lived assets	168,522	164,642
United States
Revenues from External Customers and Long-Lived Assets [Line Items]
Long-lived assets	164,865	161,645
Other Americas
Revenues from External Customers and Long-Lived Assets [Line Items]
Long-lived assets	3,657	2,997
Total Europe, Middle East and Africa
Revenues from External Customers and Long-Lived Assets [Line Items]
Long-lived assets	572,692	475,054
Germany
Revenues from External Customers and Long-Lived Assets [Line Items]
Long-lived assets	496,386	400,009
Other Europe, Middle East and Africa
Revenues from External Customers and Long-Lived Assets [Line Items]
Long-lived assets	76,306	75,045
Asia Pacific, Japan and Rest of World
Revenues from External Customers and Long-Lived Assets [Line Items]
Long-lived assets	$ 23,823	$ 22,474

Share-Based Compensation - Narr

Share-Based Compensation - Narrative (Details) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Tax benefit for the tax deductions from option exercises	$ 100,000	$ 100,000	$ 2,200,000
Unrecognized share-based compensation expense, options	0
Share-based compensation expense	$ 47,100,000	$ 49,507,000	$ 38,391,000
Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance achievement, percentage of granted shares (up to)	200%
Share-based payment arrangements | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	3 years
Share-based payment arrangements | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	5 years
Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Exercise price (in USD per share)	$ 0
Pre-vesting forfeitures percentage	6%
Unrecognized share-based compensation expense related to employee stock option awards	$ 59,800,000
Unrecognized share-based compensation expense recognized weighted average period, years	1 year 4 months 2 days
Weighted-average grant date fair value of restricted stock units granted (in USD per share)	$ 44.37	$ 45.49	$ 48.77
Total fair value of restricted stock units	$ 39,400,000	$ 55,800,000	$ 52,600,000
Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total intrinsic value of options exercised	$ 200,000	$ 200,000	$ 14,400,000
Shares outstanding (in shares)	0	9,000
Options exercisable (in shares)		9,000	18,000
Weighted average exercise price of exercisable options (in USD per share)		$ 18.68	$ 17.79
The 2005 and 2014 Plans
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common shares reserved and available for issuance under the plan (in shares)	20,900,000

Share-Based Compensation - Summ

Share-Based Compensation - Summary of the Status of Employee Stock Options (Details) - Stock Options	12 Months Ended
	Dec. 31, 2023 $ / shares shares
Number of Shares
Outstanding (in shares) | shares	9,000
Exercised (in shares) | shares	(9,000)
Outstanding (in shares) | shares	0
Weighted Average Exercise Price
Outstanding, beginning of period (in USD per share) | $ / shares	$ 18.68
Exercised (in USD per share) | $ / shares	18.68
Outstanding, end of period (in USD per share) | $ / shares	$ 0

Share-Based Compensation - Su_2

Share-Based Compensation - Summary of Stock Units (Details) - Restricted Stock Units (RSUs) shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2023 USD ($) shares
Stock Units
Outstanding (in shares)	3,771
Granted (in shares)	1,185
Vested (in shares)	(864)
Forfeited (in shares)	(77)
Outstanding (in shares)	4,015
Vested and expected to vest (in shares)	3,744
Weighted Average Contractual Term
Outstanding	1 year 4 months 2 days
Vested and expected to vest	1 year 3 months 14 days
Aggregate Intrinsic Value
Outstanding | $	$ 174,364
Vested and expected to vest | $	$ 162,610

Share-Based Compensation - Comp

Share-Based Compensation - Compensation Expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Share-based compensation expense	$ 47,100	$ 49,507	$ 38,391
Less: income tax benefit	11,035	10,703	8,956
Share-based compensation expense, after tax	36,065	38,804	29,435
Excess tax benefit realized for the tax deductions of share-based arrangements	1,300	2,700	6,500
Cost of sales
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Share-based compensation expense	3,296	2,577	40
Research and development
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Share-based compensation expense	7,484	6,504	4,909
Sales and marketing
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Share-based compensation expense	14,495	16,076	13,630
General and administrative
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Share-based compensation expense	$ 21,825	$ 24,350	$ 19,812

Employee Benefits (Details)

Employee Benefits (Details) $ in Millions	12 Months Ended
	Dec. 31, 2023 USD ($) defined_benefit_plan	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)
Retirement Benefits [Abstract]
Total expense under employee benefit plans	$ 4.5	$ 4.5	$ 4.3
Company matching contributions	$ 0.1	0.1	$ 0.2
Number of defined benefit plans | defined_benefit_plan	7
Liability under the defined benefit plans	$ 7.4	$ 7.2

Related Party Transactions - Su

Related Party Transactions - Summary of Related Party Transactions (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Related Party Transaction [Line Items]
Total prepaid expenses and other current assets	$ 309,516	$ 293,976
Accounts payable	84,155	98,734
Accrued expenses	70,007	62,469
Related Party
Related Party Transaction [Line Items]
Net sales	9,039	8,474	$ 9,089
Accounts receivable	2,890	5,136
Total prepaid expenses and other current assets	78	11,929
Accounts payable	700	2,708
Accrued expenses	$ 2,893	$ 3,518

Related Party Transactions - Na

Related Party Transactions - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Related Party Transaction [Line Items]
Restructuring, acquisition, integration and other, net	$ 35,309	$ 44,768	$ 27,762
Impairments	$ 0	(12,829)
Affiliated Entity
Related Party Transaction [Line Items]
Impairments		$ (12,800)
Notes Receivable from Related Party | Affiliated Entity
Related Party Transaction [Line Items]
Interest rate on loans to related parties		10%
Notes Receivable from Related Party | Affiliated Entity | Prepaid Expenses and Other Current Assets
Related Party Transaction [Line Items]
Note receivable from related party		$ 10,600
Write-Off of Advances to Suppliers | Affiliated Entity
Related Party Transaction [Line Items]
Restructuring, acquisition, integration and other, net		$ 4,600

Uncategorized Items - qgen-2023

Label	Element	Value
Accounting Standards Update [Extensible Enumeration]	us-gaap_AccountingStandardsUpdateExtensibleList	Accounting Standards Update 2020-06 [Member]