Document and Entity Information
Document and Entity Information - shares | 9 Months Ended | |
Sep. 30, 2018 | Nov. 01, 2018 | |
Document and Entity Information [Abstract] | ||
Entity Registrant Name | PERKINELMER INC | |
Entity Central Index Key | 31,791 | |
Current Fiscal Year End Date | --12-30 | |
Entity Filer Category | Large Accelerated Filer | |
Document Type | 10-Q | |
Document Period End Date | Sep. 30, 2018 | |
Document Fiscal Year Focus | 2,018 | |
Document Fiscal Period Focus | Q3 | |
Amendment Flag | false | |
Entity Common Stock, Shares Outstanding | 111,239,214 | |
Entity Emerging Growth Company | false | |
Entity Small Business | false | |
Entity Current Reporting Status | Yes |
Condensed Consolidated Income S
Condensed Consolidated Income Statements - USD ($) shares in Thousands, $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2018 | Oct. 01, 2017 | Sep. 30, 2018 | Oct. 01, 2017 | |
Revenue from Contract with Customer, Excluding Assessed Tax | $ 674,313 | $ 554,275 | $ 2,021,647 | $ 1,615,352 |
Cost of Revenue | 341,986 | 285,308 | 1,056,958 | 849,027 |
Selling, general and administrative expenses | 196,769 | 152,775 | 601,374 | 449,642 |
Research and development expenses | 48,848 | 34,885 | 142,028 | 101,731 |
Restructuring and contract termination charges, net | 6,508 | 3,269 | 13,086 | 12,920 |
Operating income from continuing operations | 80,202 | 78,038 | 208,201 | 202,032 |
Interest and other expense, net | 2,161 | (27,016) | 29,947 | (13,797) |
Income from continuing operations before income taxes | 78,041 | 105,054 | 178,254 | 215,829 |
Provision for income taxes | 2,596 | 8,508 | 12,101 | 20,495 |
Income from continuing operations | 75,445 | 96,546 | 166,153 | 195,334 |
Income from discontinued operations before income taxes | 0 | 0 | 0 | 650 |
(Loss) gain on disposition of discontinued operations before income taxes | (308) | (206) | (859) | 180,171 |
(Benefit from) provision for income taxes on discontinued operations and dispositions | (1,411) | 5,262 | (1,341) | 42,405 |
Gain (loss) from discontinued operations and dispositions | 1,103 | (5,468) | 482 | 138,416 |
Net income | $ 76,548 | $ 91,078 | $ 166,635 | $ 333,750 |
Basic earnings (loss) per share: | ||||
Income (loss) from continuing operations (per share) | $ 0.68 | $ 0.88 | $ 1.50 | $ 1.78 |
Gain (loss) on discontinued operations and dispositions (per share) | 0.01 | (0.05) | 0 | 1.26 |
Net income (per share) | 0.69 | 0.83 | 1.51 | 3.04 |
Diluted earnings (loss) per share: | ||||
Income (loss) from continuing operations (per share) | 0.68 | 0.87 | 1.49 | 1.77 |
Gain (loss) on discontinued operations and dispositions (per share) | 0.01 | (0.05) | 0 | 1.25 |
Net income (per share) | $ 0.69 | $ 0.82 | $ 1.49 | $ 3.02 |
Weighted average shares of common stock outstanding: | ||||
Basic (in shares) | 110,724 | 110,003 | 110,499 | 109,788 |
Diluted (in shares) | 111,747 | 110,993 | 111,510 | 110,653 |
Cash dividends per common share | $ 0.07 | $ 0.07 | $ 0.21 | $ 0.21 |
Product [Member] | ||||
Revenue from Contract with Customer, Excluding Assessed Tax | $ 474,523 | $ 354,819 | $ 1,417,739 | $ 1,043,534 |
Cost of Goods and Services Sold | (213,672) | (165,015) | (663,651) | (501,079) |
Service [Member] | ||||
Revenue from Contract with Customer, Excluding Assessed Tax | 199,790 | 199,456 | 603,908 | 571,818 |
Cost of Goods and Services Sold | $ (128,314) | $ (120,293) | $ (393,307) | $ (347,948) |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2018 | Oct. 01, 2017 | Sep. 30, 2018 | Oct. 01, 2017 | |
Net income | $ 76,548 | $ 91,078 | $ 166,635 | $ 333,750 |
Other Comprehensive Income (Loss), Net of Tax [Abstract] | ||||
Foreign currency translation adjustments | (30,105) | 9,805 | (114,198) | 47,205 |
Unrealized gains on securities, net of tax | 23 | 47 | 68 | 81 |
Other comprehensive (loss) income | (30,082) | 9,852 | (114,130) | 47,286 |
Comprehensive income | $ 46,466 | $ 100,930 | $ 52,505 | $ 381,036 |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheets - USD ($) $ in Thousands | Sep. 30, 2018 | Dec. 31, 2017 |
Current assets: | ||
Cash and cash equivalents | $ 149,513 | $ 202,134 |
Accounts receivable, net | 551,385 | 552,304 |
Inventories | 354,244 | 351,675 |
Other current assets | 110,353 | 93,842 |
Total current assets | 1,165,495 | 1,199,955 |
Property, plant and equipment, net: | ||
At cost | 724,053 | 630,919 |
Accumulated depreciation | (407,004) | (332,853) |
Property, plant and equipment, net | 317,049 | 298,066 |
Intangible assets, net | 1,223,775 | 1,346,940 |
Goodwill | 2,920,689 | 3,002,198 |
Other assets, net | 235,347 | 244,304 |
Total assets | 5,862,355 | 6,091,463 |
Current liabilities: | ||
Current portion of long-term debt | 20,072 | 217,306 |
Accounts payable | 180,693 | 222,093 |
Accrued expenses and other current liabilities | 8,079 | 8,759 |
Accrued expenses and other current liabilities | 475,743 | 500,642 |
Current liabilities of discontinued operations | 2,165 | 2,102 |
Total current liabilities | 686,752 | 950,902 |
Long-term debt | 1,882,502 | 1,788,803 |
Long-term liabilities | 720,632 | 848,570 |
Total liabilities | 3,289,886 | 3,588,275 |
Commitments and contingencies (see Note 20) | ||
Stockholders' equity: | ||
Preferred stock—$1 par value per share, authorized 1,000,000 shares; none issued or outstanding | 0 | 0 |
Common stock—$1 par value per share, authorized 300,000,000 shares; issued and outstanding 111,087,000 shares and 110,361,000 shares at September 30, 2018 and at December 31, 2017, respectively | 111,087 | 110,361 |
Capital in excess of par value | 89,970 | 58,828 |
Retained earnings | 2,532,060 | 2,380,517 |
Accumulated other comprehensive loss | (160,648) | (46,518) |
Total stockholders’ equity | 2,572,469 | 2,503,188 |
Total liabilities and stockholders’ equity | $ 5,862,355 | $ 6,091,463 |
Condensed Consolidated Balanc_2
Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares | Sep. 30, 2018 | Dec. 31, 2017 |
Statement of Financial Position [Abstract] | ||
Preferred stock, par value | $ 1 | $ 1 |
Preferred stock, authorized | 1,000,000 | 1,000,000 |
Preferred stock, issued | 0 | 0 |
Preferred stock, outstanding | 0 | 0 |
Common stock, par value | $ 1 | $ 1 |
Common stock, authorized | 300,000,000 | 300,000,000 |
Common stock, issued | 111,087,000 | 110,361,000 |
Common stock, outstanding | 111,087,000 | 110,361,000 |
Condensed Consolidated Statem_2
Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands | 9 Months Ended | |
Sep. 30, 2018 | Oct. 01, 2017 | |
Operating activities: | ||
Net income | $ 166,635 | $ 333,750 |
Gain from discontinued operations and dispositions, net of income taxes | (482) | (138,416) |
Income from continuing operations | 166,153 | 195,334 |
Adjustments to reconcile net income from continuing operations to net cash provided by continuing operations: | ||
Restructuring and contract termination charges, net | 13,086 | 12,920 |
Depreciation and amortization | 133,386 | 75,507 |
Gain on disposition of businesses and assets, net | (13,031) | 301 |
Gain on Sale of Investments | (557) | 0 |
Stock-based compensation | 23,275 | 16,179 |
Business Combination, Contingent Consideration Arrangements, Change in Amount of Contingent Consideration, Liability | 10,804 | 1,560 |
Amortization of deferred debt financing costs and accretion of discount | 2,454 | 1,936 |
Amortization of acquired inventory revaluation | 18,160 | 4,240 |
Changes in operating assets and liabilities which provided (used) cash, excluding effects from companies purchased and divested: | ||
Accounts receivable, net | (12,670) | 10,971 |
Inventories | (41,313) | (25,208) |
Accounts payable | (36,587) | (12,459) |
Accrued expenses and other | (111,341) | (116,118) |
Net cash provided by operating activities of continuing operations | 151,819 | 165,163 |
Net cash used in operating activities of discontinued operations | (200) | (4,806) |
Net cash provided by operating activities | 151,619 | 160,357 |
Investing activities: | ||
Capital expenditures | (60,443) | (22,362) |
Proceeds from Derivative Instrument, Investing Activities | 0 | 60,420 |
Proceeds from surrender of life insurance policies | 72 | 45 |
Proceeds from Divestiture of Businesses | 38,027 | 0 |
Payments to Acquire Investments | (5,500) | 0 |
Activity related to acquisitions, net of cash and cash equivalents acquired | (44,057) | (123,578) |
Net cash used in investing activities of continuing operations | (71,901) | (85,475) |
Net cash provided by investing activities of discontinued operations | 0 | 272,779 |
Net cash (used in) provided by investing activities | (71,901) | 187,304 |
Financing activities: | ||
Payments on borrowings | (1,019,000) | (146,965) |
Proceeds from borrowings | 605,000 | 146,952 |
Proceeds from sale of senior debt | 369,340 | 0 |
Payments of debt financing costs | (2,634) | 0 |
Settlement of cash flow hedges | (30,285) | (11,539) |
Net payments on other credit facilities | (22,871) | (872) |
Payments for acquisition-related contingent consideration | (12,800) | (8,940) |
Proceeds from issuance of common stock under stock plans | 19,484 | 14,004 |
Purchases of common stock | (4,974) | (3,480) |
Dividends paid | (23,222) | (23,077) |
Net Cash Provided by (Used in) Financing Activities, Continuing Operations | (121,962) | (33,917) |
Cash Provided by (Used in) Financing Activities, Discontinued Operations | 0 | (533) |
Net cash used in financing activities | (121,962) | (34,450) |
Effect of Exchange Rate on Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | (7,410) | 19,945 |
Net increase (decrease) in cash, cash equivalents, restricted cash and restricted cash equivalent | (49,654) | 333,156 |
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents at beginning of period | 202,371 | 376,568 |
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents at end of period | 152,717 | 709,724 |
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents [Abstract] | ||
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | $ 202,371 | $ 376,568 |
Basis of Presentation
Basis of Presentation | 9 Months Ended |
Sep. 30, 2018 | |
Accounting Policies [Abstract] | |
Basis of Accounting [Text Block] | Basis of Presentation The condensed consolidated financial statements included herein have been prepared by PerkinElmer, Inc. (the “Company”), in accordance with accounting principles generally accepted in the United States of America (the “U.S.” or the "United States") and pursuant to the rules and regulations of the Securities and Exchange Commission (the “SEC”). Certain information in the footnote disclosures of the financial statements has been condensed or omitted where it substantially duplicates information provided in the Company’s latest audited consolidated financial statements, in accordance with the rules and regulations of the SEC. These condensed consolidated financial statements should be read in conjunction with the Company’s audited consolidated financial statements and notes included in its Annual Report on Form 10-K for the fiscal year ended December 31, 2017 , filed with the SEC (the “ 2017 Form 10-K”). The balance sheet amounts at December 31, 2017 in this report were derived from the Company’s audited 2017 consolidated financial statements included in the 2017 Form 10-K. The condensed consolidated financial statements reflect all adjustments that, in the opinion of management, are necessary to present fairly the Company’s financial position, results of operations and cash flows for the periods indicated. The preparation of financial statements in conformity with U.S. Generally Accepted Accounting Principles (“GAAP”) requires management to make estimates and assumptions that affect the reported amounts and classifications of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. The results of operations for the three and nine months ended September 30, 2018 and October 1, 2017 , respectively, are not necessarily indicative of the results for the entire fiscal year or any future period. The Company’s fiscal year ends on the Sunday nearest December 31. The Company reports fiscal years under a 52/53 week format and as a result, certain fiscal years will contain 53 weeks. The fiscal year ending December 30, 2018 (" fiscal year 2018 ") will include 52 weeks, and the fiscal year ended December 31, 2017 (" fiscal year 2017 ") included 52 weeks. Recently Adopted and Issued Accounting Pronouncements: From time to time, new accounting pronouncements are issued by the Financial Accounting Standards Board (the "FASB") and are adopted by the Company as of the specified effective dates. Unless otherwise discussed, such pronouncements did not have or will not have a significant impact on the Company’s consolidated financial position, results of operations and cash flows or do not apply to the Company’s operations. In August 2018, the FASB issued Accounting Standards Update No. 2018-15, Intangibles-Goodwill and Other- Internal-Use Software (Subtopic 350-40): Customer's Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That is a Service Contract ("ASU 2018-15"). ASU 2018-15 aligns the accounting for implementation costs incurred in a hosting arrangement that is a service contract with the guidance on capitalizing costs associated with developing or obtaining internal-use software (and hosting arrangements that include an internal use software license). Specifically, ASU 2018-15 amends Intangibles-Goodwill and Other (Topic 350) to include in its scope implementation costs incurred in a hosting arrangement that is a service contract and clarifies that a customer should apply Subtopic 350-40 to determine which implementation costs to capitalize as an asset related to the service contract and which costs to expense. The provisions of this guidance are to be applied either retrospectively or prospectively to all implementation costs incurred after the date of adoption. ASU 2018-15 is effective for annual reporting periods beginning after December 15, 2019, and interim periods within those years with early adoption permitted. The Company is currently evaluating the requirements of this guidance and has not yet determined the impact of its adoption on the Company's consolidated financial position, results of operations and cash flows. In August 2018, the FASB issued Accounting Standards Update No. 2018-14, Compensation - Retirement Benefits - Defined Benefit Plans - General (Subtopic 715-20): Disclosure Framework - Changes to the Disclosure Requirements for Defined Benefit Plans ("ASU 2018-14"). ASU 2018-14 adds, removes, and clarifies disclosure requirements related to defined benefit pension and other postretirement plans. ASU 2018-14 adds requirements for an entity to disclose the weighted-average interest crediting rates used in the entity’s cash balance pension plans and other similar plans; and an explanation of the reasons for significant gains and losses related to changes in the benefit obligation for the period . Further, ASU 2018-14 removes guidance that currently requires the following disclosures: the amounts in accumulated other comprehensive income expected to be recognized as part of net periodic benefit cost over the next year; the amount and timing of plan assets expected to be returned to the employer; information about (1) benefits covered by related-party insurance and annuity contracts and (2) significant transactions between the plan and related parties; and the effects of a one-percentage-point change on the assumed health care costs and the effect of this change in rates on service cost, interest cost, and the benefit obligation for postretirement health care benefits. ASU 2018-14 also clarifies the guidance in Compensation-Retirement Benefits (Topic 715-20-50-3) on defined benefit plans to require disclosure of (1) the projected benefit obligation ("PBO") and fair value of plan assets for pension plans with PBOs in excess of plan assets (the same disclosure with reference to the accumulated postretirement benefit obligation rather than the PBO is required for other postretirement benefit plans) and (2) the accumulated benefit obligation ("ABO") and fair value of plan assets for pension plans with ABOs in excess of plan assets. The provisions of this guidance are to be applied retrospectively to all periods presented upon their effective date. ASU 2018-14 is effective for annual reporting periods beginning after December 15, 2020, and interim periods within those years with early adoption permitted. The Company is currently evaluating the requirements of this guidance and has not yet determined the impact of its adoption on the Company's consolidated financial position, results of operations and cash flows. In August 2018, the FASB issued Accounting Standards Update No. 2018-13, Fair Value Measurement (Topic 820): Disclosure Framework - Changes to the Disclosure Requirements for Fair Value Measurement ("ASU 2018-13"). ASU 2018-13 adds, removes, and modifies certain disclosures related to fair value measurements. ASU 2018-13 adds requirements for an entity to disclose the changes in unrealized gains and losses for the period included in other comprehensive income for recurring Level 3 fair value measurements held at the end of the reporting period; and the range and weighted average of significant unobservable inputs used to develop Level 3 fair value measurements. Further, ASU 2018-13 removes the requirement to disclose the amount of and reasons for transfers between Level 1 and Level 2 of the fair value hierarchy; the policy for timing of transfers between levels; and the valuation processes for Level 3 fair value measurements. ASU 2018-13 also modifies existing disclosure requirements related to measurement uncertainty. The amendments regarding changes in unrealized gains and losses, the range and weighted average of significant unobservable inputs used to develop Level 3 fair value measurements, and the narrative description of measurement uncertainty are to be applied prospectively for only the most recent interim or annual period presented in the initial fiscal year of adoption. All other amendments are to be applied retrospectively to all periods presented upon their effective date. ASU 2018-13 is effective for annual reporting periods beginning after December 15, 2019, and interim periods within those years. Early adoption is permitted for any removed or modified disclosures. The Company is currently evaluating the requirements of this guidance and has not yet determined the impact of its adoption on the Company's consolidated financial position, results of operations and cash flows. In June 2018, the FASB issued Accounting Standards Update No. 2018-07, Compensation - Stock Compensation (Topic 718), Improvements to Nonemployee Share-Based Payment Accounting ("ASU 2018-07") which supersedes Subtopic 505-50, Equity - Equity-Based Payments to Non-employees , and expands the scope of Topic 718 (which currently only includes share-based payments to employees) to also include share-based payments issued to non-employees for goods and services, except for specific guidance on inputs to an option pricing model and the attribution of cost (that is, the period of time over which share-based payment awards vest and the pattern of cost recognition over that period). ASU 2018-07 specifies that Topic 718 applies to all share-based payment transactions in which a grantor acquires goods or services to be used or consumed in a grantor’s own operations by issuing share-based payment awards, except for financing transactions, or awards issued to customers as part of a contract accounted for under Topic 606, Revenue from Contracts with Customers ("Topic 606"). The provisions of this guidance are to be applied using a modified retrospective approach, with a cumulative-effect adjustment to retained earnings as of the beginning of the fiscal year, for all (1) liability-classified non-employee awards that have not been settled as of the adoption date and (2) equity-classified non-employee awards for which a measurement date has not been established. ASU 2018-07 is effective for annual reporting periods beginning after December 15, 2018, and interim periods within those years. Early adoption is permitted, but no earlier than a company’s adoption date of Topic 606. The Company early adopted the provisions of this guidance effective July 2, 2018. The adoption did not have a material impact on the Company's consolidated financial position, results of operations and cash flow. In March 2018, the FASB Issued Accounting Standards Update No. 2018-05, Income Taxes (Topic 740): Amendments to SEC Paragraphs Pursuant to SEC Staff Accounting Bulletin No. 118 ("ASU 2018-05"). ASU 2018-05 was issued to incorporate into Topic 740 recent SEC guidance related to the income tax accounting implications of the Tax Cut and Jobs Act (the "Tax Act"). The SEC issued Staff Accounting Bulletin No. 118 ("SAB 118") to address concerns about reporting entities’ ability to timely comply with the accounting requirements to recognize all of the effects of the Tax Act in the period of enactment. SAB 118 permits companies to disclose that some or all of the income tax effects from the Tax Act are incomplete by the due date of the financial statements, and if possible, disclose a reasonable estimate of such tax effects. ASU 2018-05 is effective immediately. The Company is applying the guidance in ASU 2018-05 when accounting for the enactment date effects of the Tax Act. At September 30, 2018 , the Company has not completed the accounting for all of the tax effects of the Tax Act; however, it has made a reasonable estimate of their effects based on currently available information. Management will continue to refine the calculations as additional guidance is available. These estimates may be affected as additional clarification and implementation guidance becomes available. These changes could be material to income tax expense (see Note 9, Income Taxes for further disclosures). In February 2018, the FASB Issued Accounting Standards Update No. 2018-03, Technical Corrections and Improvements to Financial Instruments - Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities ("ASU 2018-03") . ASU 2018-03 was issued to clarify certain aspects of guidance concerning the recognition of financial assets and liabilities established in Accounting Standards Update No. 2016-01, Financial Instruments - Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities ("ASU 2016-01"). This includes treatment for discontinuations and adjustments for equity securities without a readily determinable market value, forward contracts and purchased options, presentation requirements for certain fair value option liabilities, fair value option liabilities denominated in a foreign currency, and transition guidance for equity securities without a readily determinable fair value. ASU 2018-03 is effective for fiscal years beginning after December 15, 2017, and interim periods within those fiscal years beginning after June 15, 2018. Early adoption is permitted for fiscal years beginning after December 15, 2017, including interim periods within those fiscal years, as long as the Company has adopted ASU 2016-01. The Company adopted the provisions of this guidance effective July 2, 2018. The adoption did not have a material impact on the Company's consolidated financial position, results of operations and cash flows. In February 2018, the FASB Issued Accounting Standards Update No. 2018-02, Income Statement-Reporting Comprehensive Income (Topic 220): Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income ("ASU 2018-02") . ASU 2018-02 provides entities with an option to reclassify stranded tax effects within Accumulated Other Comprehensive Income ("AOCI") to retained earnings in each period in which the effect of the change in the U.S. federal corporate income tax rate in the Tax Act (or portion thereof) is recorded. ASU 2018-02 requires entities to disclose a description of the accounting policy for releasing income tax effects from AOCI; whether they elect to reclassify the stranded income tax effects from the Tax Act; and information about the other income tax effects that are reclassified. ASU 2018-02 is effective for fiscal years beginning after December 15, 2018, and interim periods within those fiscal years. Early adoption is permitted, and entities should apply the proposed amendments either in the period of adoption or retrospectively to each period (or periods) in which the effect of the change in the U.S. federal corporate income tax rate in the Tax Act is recognized. The Company is currently evaluating the requirements of this guidance and has not yet determined the impact of its adoption on the Company's consolidated financial position, results of operations and cash flows. In August 2017, the FASB issued Accounting Standards Update No. 2017-12, Derivatives and Hedging (Topic 815), Targeted Improvements to Accounting for Hedging Activities ("ASU 2017-12") , which amends the hedge accounting recognition and presentation requirements in Topic 815. ASU 2017-12 makes targeted changes to the existing hedge accounting model to better align an entity’s financial reporting for hedging relationships with the entity’s risk management activities, and to reduce the complexity of, and simplify the application of, the hedge accounting model. Specifically, ASU 2017-12 expands the types of transactions eligible for hedge accounting, eliminates the requirement to separately measure and present hedge ineffectiveness, simplifies the way assessments of hedge ineffectiveness may be performed, relaxes the documentation requirements for entering into hedging positions, provides targeted improvements to fair value hedges of interest rate risk, and permits an entity to exclude the change in the fair value of cross-currency basis spreads in currency swaps from the assessment of hedge effectiveness. The standard also requires entities to provide new disclosures about the impact fair value and cash flow hedges have on their income statements and about cumulative basis adjustments arising from fair value hedges. The provisions of this guidance are to be applied using a modified retrospective approach to existing hedging relationships as of the adoption date. However, the transition provisions allow for certain elections at the date of adoption and entities may choose to apply any of the provided elections. ASU 2017-12 is effective for annual reporting periods beginning after December 15, 2018, and interim periods within those years. Early adoption is permitted, including adoption in any interim period. The Company early adopted the provisions of this guidance effective January 1, 2018. The adoption did not have a material impact on the Company's consolidated financial position, results of operations and cash flows. In May 2017, the FASB issued Accounting Standards Update No. 2017-09, Compensation - Stock Compensation (Topic 718), Scope of Modification Accounting ("ASU 2017-09") , which amends the scope of modification accounting for share-based payment arrangements. ASU 2017-09 provides guidance on the types of changes to the terms or conditions of share-based payment awards to which an entity would be required to apply modification accounting under Topic 718. Specifically, an entity would not apply modification accounting if the fair value, vesting conditions, and classification of the awards are the same immediately before and after the modification. If an entity modifies its awards and concludes that it is not required to apply modification accounting under the standard, it must still consider whether the modification affects its application of other guidance. Additionally, if a significant modification does not result in incremental compensation cost, entities are required to disclose the “lack of” incremental compensation cost resulting from such significant modification. The standard also removes the guidance in Topic 718 stating that modification accounting is not required when an entity adds an antidilution provision as long as that modification is not made in contemplation of an equity restructuring. The provisions of this guidance are to be applied on a prospective basis to awards modified on or after the effective date. ASU 2017-09 is effective for annual reporting periods beginning after December 15, 2017, and interim periods within those years. Early adoption is permitted, including adoption in any interim period. The Company adopted ASU 2017-09 effective January 1, 2018. The adoption did not have a material impact on the Company's consolidated financial position, results of operations and cash flows. In March 2017, the FASB issued Accounting Standards Update No. 2017-07, Compensation - Retirement Benefits (Topic 715), Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost ("ASU 2017-07") , which amends the requirements in Topic 715 related to the income statement presentation of the components of net periodic benefit cost for an entity’s sponsored defined benefit pension and other postretirement plans. ASU 2017-07 requires entities to (1) disaggregate the current-service-cost component from the other components of net benefit cost (the “other components”) and present it with other current employee compensation costs in their income statements and (2) present the other components elsewhere in their income statements and outside of income from operations, and disclose the income statement lines that contain the other components if they are not presented on appropriately described separate lines. Additionally, the standard requires that only the service-cost component of net benefit cost is eligible for capitalization (e.g., as part of inventory or property, plant, and equipment). The change in income statement presentation requires retrospective application, while the change in capitalized benefit cost is to be applied prospectively. ASU 2017-07 is effective for annual reporting periods beginning after December 15, 2017, and interim periods within those years, with early adoption permitted. The standard provides a practical expedient that permits entities to use the components of cost disclosed in prior years as a basis for the retrospective application of the new income statement presentation. Entities need to disclose the use of the practical expedient. The Company adopted ASU 2017-07 effective January 1, 2018 using a retrospective approach for each period presented. For the three and nine months ended October 1, 2017 , $1.8 million and $5.4 million , respectively, of net periodic pension credit previously presented within operating income has been presented outside of operating income in the line item "Interest and other expense, net" in the condensed consolidated statement of operations due to the retrospective adoption of ASU 2017-07. The adoption did not have a material impact on the Company's consolidated financial position, results of operations and cash flows, other than the impact discussed above. In January 2017, the FASB issued Accounting Standards Update No. 2017-01, Business Combinations (Topic 805), Clarifying the Definition of a Business ("ASU 2017-01"), which amends Topic 805 to provide a screen to determine when a set of assets and liabilities is not a business. The screen requires that when substantially all of the fair value of the gross assets acquired (or disposed of) is concentrated in a single identifiable asset or a group of similar identifiable assets, the set is not a business. This screen reduces the number of transactions that need to be further evaluated. If the screen is not met, the standard (1) requires that to be considered a business, a set must include, at a minimum, an input and a substantive process that together significantly contribute to the ability to create output and (2) removes the evaluation of whether a market participant could replace missing elements. The standard provides a framework to assist entities in evaluating whether both an input and a substantive process are present. The standard also provides a framework that includes two sets of criteria to consider that depend on whether a set has outputs and a more stringent criteria for sets without outputs. Lastly, the standard narrows the definition of the term "output" so that the term is consistent with how outputs are described in Topic 606, Revenue from Contracts with Customers . The provisions of this guidance are to be applied prospectively. ASU 2017-01 is effective for annual reporting periods beginning after December 15, 2017, and interim periods within those years, with early adoption permitted in limited circumstances. The Company adopted ASU 2017-01 effective January 1, 2018. The adoption did not have a material impact on the Company's consolidated financial position, results of operations and cash flows. In November 2016, the FASB issued Accounting Standards Update No. 2016-18, Statement of Cash Flows (Topic 230), Restricted Cash ("ASU 2016-18"), which amends Topic 230 to add or clarify guidance on the classification and presentation of restricted cash in the statement of cash flows. The standard requires that a statement of cash flows explain the change during the period in the total of cash, cash equivalents and amounts generally described as restricted cash or restricted cash equivalents. Therefore, amounts generally described as restricted cash and restricted cash equivalents should be included with cash and cash equivalents when reconciling the beginning-of-period and end-of-period total amounts shown on the statement of cash flows. The provisions of this guidance are to be applied using a retrospective transition method to each period presented. ASU 2016-18 is effective for annual reporting periods beginning after December 15, 2017, and interim periods within those years, with early adoption permitted. The Company adopted ASU 2016-18 effective January 1, 2018. For the nine months ended October 1, 2017 , $17.2 million of changes in restricted cash balances that was previously presented within investing activities in the condensed consolidated statement of cash flows has been excluded from the cash flows used in investing activities and the effect of exchange rate changes increased by $0.2 million due to the retrospective adoption of ASU 2016-18. Restricted cash amounting to $17.3 million and $0.2 million at January 1, 2017 and October 1, 2017 , respectively, have been included with the cash and cash equivalents when reconciling the beginning of period and end of period total amounts on the condensed consolidated statement of cash flows for the nine months ended October 1, 2017 . The adoption did not have a material impact on the Company's consolidated financial position, results of operations and cash flows, other than the impact discussed above. In October 2016, the FASB issued Accounting Standards Update No. 2016-16, Income Taxes (Topic 740), Intra-entity Transfer of Assets Other than Inventory ("ASU 2016-16"). ASU 2016-16 removes the prohibition in Topic 740 against the immediate recognition of the current and deferred income tax effects of intra-entity transfers of assets other than inventory. The standard requires entities to recognize the income tax consequences of an intra-entity transfer of an asset other than inventory when the transfer occurs. The provisions of this guidance are to be applied on a modified retrospective basis through a cumulative-effect adjustment directly to retained earnings as of the beginning of the period of adoption. ASU 2016-16 is effective for annual reporting periods beginning after December 15, 2017, and interim periods within those years, with early adoption permitted. The Company adopted ASU 2016-16 on January 1, 2018. The adoption of the standard resulted in a decrease in the retained earnings at January 1, 2018 of approximately $2.0 million with corresponding increase in deferred tax assets of $10.7 million and decrease in prepaid taxes of $12.8 million related to prior years’ intra-entity transfers of assets other than inventory. The adoption did not have a material impact on the Company's consolidated financial position, results of operations and cash flows, other than the impact discussed above. In June 2016, the FASB issued Accounting Standards Update No. 2016-13, Financial Instruments - Credit Losses (Topic 326), Measurement of Credit Losses on Financial Instruments ("ASU 2016-13"). ASU 2016-13 changes how entities will measure credit losses for most financial assets and certain other instruments that are not measured at fair value through net income. The standard requires entities to use the expected loss impairment model and will apply to most financial assets measured at amortized cost and certain other instruments, including trade and other receivables, loans, held-to-maturity debt securities, net investments in leases and off-balance sheet credit exposures. Entities are required to estimate the lifetime “expected credit loss” for each applicable financial asset and record an allowance that, when deducted from the amortized cost basis of the financial asset, presents the net amount expected to be collected on the financial asset. The standard also amends the impairment model for available-for-sale (“AFS”) debt securities and requires entities to determine whether all or a portion of the unrealized loss on an AFS debt security is a credit loss. An entity will recognize an allowance for credit losses on an AFS debt security as a contra-account to the amortized cost basis rather than as a direct reduction of the amortized cost basis of the investment. The provisions of this guidance are to be applied using a modified-retrospective approach. A prospective transition approach is required for debt securities for which an other-than-temporary impairment had been recognized before the effective date. ASU 2016-13 is effective for annual reporting periods beginning after December 15, 2019, and interim periods within those years. Early adoption is permitted for annual periods beginning after December 15, 2018, and interim periods therein. The Company is currently evaluating the requirements of this guidance and has not yet determined the impact of its adoption on the Company's consolidated financial position, results of operations and cash flows. In February 2016, the FASB issued Accounting Standards Update No. 2016-02, Leases ("ASU 2016-02"). ASU 2016-02 requires organizations that lease assets to recognize assets and liabilities on the balance sheet related to the rights and obligations created by those leases, regardless of whether they are classified as finance or operating leases. Consistent with current guidance, the recognition, measurement, and presentation of expenses and cash flows arising from a lease of assets will primarily depend on its classification as a finance or operating lease. ASU 2016-02 also requires new disclosures to help financial statement users better understand the amount, timing, and uncertainty of cash flows arising from leases. The provisions of this guidance are effective for annual periods beginning after December 15, 2018, and interim periods within those years, with early adoption permitted. ASU 2016-02 is to be applied using a modified retrospective approach. Subsequent to the issuance of ASU 2016-02, in July 2018, the FASB issued Accounting Standards Update No. 2018-10, Codification Improvements to Topic 842, Leases ("ASU 2018-10") and Accounting Standards Update No. 2018-11, Leases (Topic 842): Targeted Improvements ("ASU 2018-11"). The amendments in ASU 2018-10 clarify, correct or remove inconsistencies in the guidance provided under ASU 2016-02 related to sixteen specific issues identified. The amendments in ASU 2018-11 provide entities with an additional (and optional) transition method to adopt the new leases standard. Under the new transition method, an entity initially applies the new leases standard at the adoption date and recognizes a cumulative-effect adjustment to the opening balance of retained earnings in the period of adoption. Consequently, an entity's reporting for the comparative periods presented in the financial statements in the period of adoption will continue to be in accordance with ASC 840, Leases ("ASC 840" ). An entity that elects this additional (and optional) transition method must provide the required disclosures under ASC 840 for all periods that continue to be in accordance with ASC 840. ASU 2018-11 also provides lessors with a practical expedient, by class of underlying asset, to not separate nonlease components from the associated lease component and, instead, to account for those components as a single component if certain criteria are met. The effective date and transition requirements for these two standards are the same as the effective date and transition requirements of ASU 2016-02. The Company is in the process of completing its evaluation of the impact of the new leases standard upon adoption and has not yet determined the impact of adoption on its consolidated financial position, results of operations and cash flows. The Company intends to adopt the new leases standard using the optional transition method and will apply the new leases standard on December 31, 2018 (the first day of fiscal year 2019). In May 2014, the FASB issued Accounting Standards Update No. 2014-09, Revenue from Contracts with Customers ("ASU 2014-09"). Under this new guidance, an entity should use a five-step process to recognize revenue, depicting the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The standard also requires new disclosures regarding the nature, amount, timing and uncertainty of revenue and cash flows arising from contracts with customers. Subsequent to the issuance of the standard, the FASB decided to defer the effective date for one year to annual reporting periods beginning after December 15, 2017, with early adoption permitted for annual reporting periods beginning after December 15, 2016. In November 2017, the FASB also issued Accounting Standards Update No. 2017-14, Income Statement-Reporting Comprehensive Income (Topic 220), Revenue Recognition (Topic 605), and Revenue from Contracts with Customers (Topic 606) . ASU 2017-14 includes amendments to certain SEC paragraphs within the FASB Accounting Standards Codification ("C |
Revenue (Notes)
Revenue (Notes) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2018 | Oct. 01, 2017 | Sep. 30, 2018 | Oct. 01, 2017 | |
Revenue [Abstract] | ||||
Revenue from Contract with Customer [Text Block] | Revenue Significant accounting policy The Company enters into contracts that can include various combinations of products and services, which are generally capable of being distinct and accounted for as separate performance obligations. The Company recognizes revenue in an amount that reflects the consideration the Company expects to receive in exchange for the promised products or services when it satisfies a performance obligation by transferring control of those products or services to customers. Taxes assessed by a governmental authority that are both imposed on and concurrent with a specific revenue-producing transaction, that are collected by the Company from a customer, are excluded from revenue. The Company reports shipping and handling charges in revenue, to the extent these are billed to customers, and the associated costs in cost of product revenue. Nature of goods and services The following is a description of principal activities - separated by reportable segments - from which the Company generates its revenue. For more detailed information about the reportable segments, see Note 12. i. Discovery & Analytical Solutions The Discovery & Analytical Solutions ("DAS") segment of the Company principally generates revenue from (a) sales of instruments, consumables and services in the applied markets, (b) sales of instruments, reagents, informatics, detection and imaging technologies, extended warranty, training and services in the life sciences market. Products and services may be sold separately or in bundled packages. The typical length of a contract for service is 12 to 36 months. For bundled packages, the Company accounts for individual products and services separately if they are distinct - i.e. if a product or service is separately identifiable from other items in the bundled package and if a customer can benefit from it on its own or with other resources that are readily available to the customer. The consideration (including any discounts) is allocated between separate products and services in a bundle based on their stand-alone selling prices. The stand-alone selling prices are determined based on the prices at which the Company separately sells the products, extended warranties, and services. For items that are not sold separately, the Company estimates stand-alone selling prices by reference to the amount charged for similar items on a stand-alone basis. The Company sells products and services predominantly through its direct sales force. As a result, the use of distributors is generally limited to geographic regions where the Company has no direct sales force. The Company does not offer product return or exchange rights (other than those relating to defective goods under warranty) or price protection allowances to its customers, including distributors. Payment terms granted to distributors are the same as those granted to end-customers and payments are not dependent upon the distributor's receipt of payment from their end-user customers. In instances where the timing of revenue recognition differs from the timing of invoicing, the Company determined that the contracts generally do not include a significant financing component. The primary purpose of its invoicing terms is to provide customers with simplified and predictable ways of purchasing products and services, rather than to receive financing from the customers or to provide customers with financing. Examples include invoicing at the beginning of a subscription term with revenue recognized ratably over the contract period, and multi-year software licenses or software subscriptions that are invoiced annually with revenue recognized upfront. In limited circumstances where the Company provides the customer with a significant benefit of financing, the Company uses the practical expedient and only adjusts the transaction price for the effects of the time value of money and only on contracts where the duration of financing is more than one year. Products and services Nature, timing of satisfaction of performance obligations, and significant payment terms Instruments For instruments that include installation, and if the installation meets the criteria to be considered a separate performance obligation, product revenue is generally recognized upon delivery or when title has transferred to the customer, which is generally the point in time where control of the products has been transferred to customers, and installation revenue is recognized when the installation is complete. Certain of the Company's products require specialized installation and configuration at the customer's site. Revenue for these products is deferred until installation is complete and customer acceptance has been received. Payment terms and conditions vary, although terms generally include a requirement of payment within 30 to 60 days. Consumables and reagents The Company recognizes revenue from the sale of consumables and reagents upon delivery or when title has transferred to the customer, which is generally the point in time where control of the products has been transferred to customers. Payment terms and conditions vary, although terms generally include a requirement of payment within 30 days. Software licenses and subscriptions Customers may purchase perpetual or term licenses, or subscribe to licenses, which provide customers with the same functionality and differ mainly in the duration over which the customer benefits from the software. The Company sells its software subscriptions or software licenses with maintenance services and, in some cases, with consulting services. The Company recognizes revenue for the software upfront at the point in time when the software is made available to the customer. For maintenance and consulting services, revenue is recognized ratably over the period in which the services are provided. Payment terms and conditions vary by contract type, although terms generally include a requirement of payment within 30 to 60 days. Software subscriptions and maintenance service contracts are non-cancelable. Cloud services Cloud services, which allow customers to use hosted software over the contract period without taking possession of the software, are provided on either a subscription or consumption basis. Revenue related to cloud services provided on a subscription basis is recognized ratably over the contract period. Revenue related to cloud services provided on a consumption basis, such as the amount of storage used in a period, is recognized based on the customer utilization of such resources. Payment terms are generally net 30 days from signing of contract and contracts are non-cancelable. Extended warranty The Company recognizes revenue for extended warranties on a straight-line basis over the extended warranty period in service revenue. In the majority of countries in which the Company operates, the customary warranty period is one year and the extended warranty covers periods beyond year one. Customers typically pay for extended warranties on an annual basis over the term of the warranty. In general, customers can cancel the extended warranty at any time with 30 days notice without significant penalty. Laboratory services and training The Company's service offerings include service contracts, field service, including related time and materials, and training. The Company recognizes revenue as the services are performed. Revenue for the service contracts is recognized over the contract period or at a point in time when the service is billable based on time and materials. The Company recognizes revenue as training is provided in service revenue. Payment terms and conditions vary by contract type, although terms generally include a requirement of payment within 30 to 60 days. In general, customers can cancel the service contracts at any time with 30 to 90 days notice without significant penalty. ii. Diagnostics The Diagnostics segment of the Company principally generates revenue from sales of instruments, solutions, consumables, reagents, extended warranty and services in the diagnostics market. Products and services may be sold separately or in bundled packages. For bundled packages, the Company accounts for individual products and services separately if they are distinct - i.e. if a product or service is separately identifiable from other items in the bundled package and if a customer can benefit from it on its own or with other resources that are readily available to the customer. The consideration (including any discounts) is allocated between separate products and services in a bundle based on their stand-alone selling prices. The stand-alone selling prices are determined based on the prices at which the Company separately sells the products, extended warranties, and services. For items that are not sold separately, the Company estimates stand-alone selling prices by reference to the amount charged for similar items on a stand-alone basis. The Company sells products and services predominantly through its direct sales force. As a result, the use of distributors is generally limited to geographic regions where the Company has no direct sales force. The Company does not offer product return or exchange rights (other than those relating to defective goods under warranty) or price protection allowances to its customers, including distributors. Payment terms granted to distributors are the same as those granted to end-customers and payments are not dependent upon the distributor's receipt of payment from their end-user customers. In instances where the timing of revenue recognition differs from the timing of invoicing, the Company determined that the contracts generally do not include a significant financing component. The primary purpose of its invoicing terms is to provide customers with simplified and predictable ways of purchasing products and services, rather than to receive financing from the customers or to provide customers with financing. Examples include invoicing at the beginning of a storage period with revenue recognized ratably over the contract period. In limited circumstances where the Company provides the customer with a significant benefit of financing, the Company uses the practical expedient and only adjusts the transaction price for the effects of the time value of money and only on contracts where the duration of financing is more than one year. Products and services Nature, timing of satisfaction of performance obligations, and significant payment terms Instruments For instruments that include installation, and if the installation meets the criteria to be considered a separate performance obligation, product revenue is generally recognized upon delivery or when title has transferred to the customer, which is generally the point in time where control of the products has been transferred to customers, and installation revenue is recognized when the installation is complete. Certain of the Company's products require specialized installation and configuration at the customer's site. Revenue for these products is deferred until installation is complete and customer acceptance has been received. Payment terms and conditions vary, although terms generally include a requirement of payment within 30 to 60 days. Consumables and reagents The Company recognizes revenue from the sale of consumables and reagents upon delivery or when title has transferred to the customer, which is generally the point in time where control of the products has been transferred to customers. Payment terms and conditions vary, although terms generally include a requirement of payment within 30 days. Solutions When the Company sells the instrument and reagents that work only on those instruments to a customer or distributor, the Company considers the instrument and reagents as separate performance obligations. The Company recognizes revenue when an instrument is sold to the customer upon delivery or when title has transferred to the customer, which is generally the point in time where control of the products has been transferred to customers. Revenue from the sale of reagents is also recognized at the time of delivery or when title has transferred to the customer. Payment terms for instrument and reagent sales are usually net 30 days from invoice date. When the Company places the instrument at the customer's site and sells the reagents to a customer, the instrument and reagents are accounted for together as one performance obligation. The Company does not charge a fee for the use of the instrument and retains ownership of the placed instrument. The Company has a right to remove the instrument and replace it with another instrument at the customer's site at any time throughout the contract term. The Company recognizes revenue upon delivery of reagents, which is the point in time where the Company has performed its obligation to provide a screening solution to the customer. Payment terms are usually net 30 days from invoice date. Payment terms for certain contracts are based on equal installments over the duration of the contract. Extended warranty The Company recognizes revenue for extended warranties on a straight-line basis over the extended warranty period in service revenue. In the majority of countries in which the Company operates, the customary warranty period is one year and the extended warranty covers periods beyond year one. Customers typically pay for extended warranties on an annual basis over the term of the warranty. In general, customers can cancel the extended warranty at any time with 30 days notice without significant penalty. Services The Company's service offerings include cord blood processing and storage, and training. The Company recognizes revenue for the cord blood processing and training as the services are performed in service revenue. Revenue for the storage contracts are recognized over the contract period. Storage is typically for a period of 1, 20, or 25 years or lifetime. Lifetime storage is recognized over a certain period that is based on the life expectancy estimate from Social Security data. For cord blood processing, customers pay the processing fee in full at the point of sale. The processing fee is non-refundable unless the cord blood is non-viable for storage. For storage, customers are required to pay the storage fees in full upfront. Storage fees are refundable to the customer on a pro-rated basis if the contract is canceled. Disaggregation of revenue In the following tables, revenue is disaggregated by primary geographical market, end-markets and timing of revenue recognition. The tables also include a reconciliation of the disaggregated revenue with the reportable segments revenue. Reportable Segments Three Months Ended September 30, 2018 Discovery & Analytical Solutions Diagnostics Total (In thousands) Primary geographical markets Americas $ 169,366 $ 95,607 $ 264,973 Europe 110,747 68,480 179,227 Asia 126,053 104,060 230,113 $ 406,166 $ 268,147 $ 674,313 Primary end-markets Diagnostics $ — $ 268,147 $ 268,147 Life sciences 222,191 — 222,191 Applied markets 183,975 — 183,975 $ 406,166 $ 268,147 $ 674,313 Timing of revenue recognition Products and services transferred at a point in time $ 290,929 $ 247,189 $ 538,118 Services transferred over time 115,237 20,958 136,195 $ 406,166 $ 268,147 $ 674,313 Reportable Segments Nine Months Ended September 30, 2018 Discovery & Analytical Solutions Diagnostics Total (In thousands) Primary geographical markets Americas $ 497,833 $ 282,536 $ 780,369 Europe 357,766 205,892 563,658 Asia 377,720 299,900 677,620 $ 1,233,319 $ 788,328 $ 2,021,647 Primary end-markets Diagnostics $ — $ 788,328 $ 788,328 Life sciences 675,807 — 675,807 Applied markets 557,512 — 557,512 $ 1,233,319 $ 788,328 $ 2,021,647 Timing of revenue recognition Products and services transferred at a point in time $ 874,517 $ 726,058 $ 1,600,575 Services transferred over time 358,802 62,270 421,072 $ 1,233,319 $ 788,328 $ 2,021,647 Contract Balances Contract assets: The unbilled receivables (contract assets) primarily relate to the Company's right to consideration for work completed but not billed at the reporting date. The unbilled receivables are transferred to trade receivables when billed to customers. Contracts assets are generally classified as current assets and are included in "Accounts receivable, net" in the consolidated balance sheet. The balance of contract assets as of September 30, 2018 and as of the date of adoption of ASC 606 were $31.2 million and $22.7 million , respectively. The amount of unbilled receivables recognized at the beginning of the period that were transferred to trade receivables during the nine months ended September 30, 2018 was $21.1 million . The increase in unbilled receivables during the nine months ended September 30, 2018 as a result of recognition of revenue before billing to customers, excluding amounts transferred to trade receivables during the period, amounted to $29.5 million . Contract liabilities: The contract liabilities primarily relate to the advance consideration received from customers for products and related installation for which transfer of control has not occurred at the balance sheet date. Contract liabilities are classified as either current in "Accounts payable" or long-term in "Long-term liabilities" in the consolidated balance sheet based on the timing of when the Company expects to recognize revenue. The balance of contract liabilities as of September 30, 2018 and as of the date of adoption of ASC 606 were $26.3 million and $29.0 million , respectively. The increase in contract liabilities during the nine months ended September 30, 2018 due to cash received, excluding amounts recognized as revenue during the period, was $17.6 million . The amount of revenue recognized during the nine months ended September 30, 2018 that was included in the contract liability balance at the beginning of the period was $20.4 million . Contract costs: The Company recognizes the incremental costs of obtaining a contract with a customer as an asset if it expects the benefit of those costs to be longer than one year. The Company determined that certain sales incentive programs meet the requirements to be capitalized. Total capitalized costs to obtain a contract were immaterial during the period and are included in other current and long-term assets on the condensed consolidated balance sheet. The Company applies a practical expedient to expense costs as incurred for costs to obtain a contract with a customer when the amortization period would have been one year or less. These costs include the Company's internal sales force compensation program, as the Company determined that annual compensation is commensurate with annual sales activities. Transaction price allocated to the remaining performance obligations The Company applies the practical expedient in ASC 606-10-50-14 and does not disclose information about remaining performance obligations that have original expected durations of one year or less. The estimated revenue expected to be recognized beyond one year in the future related to performance obligations that are unsatisfied (or partially unsatisfied) at the end of the period are not material to the Company. Remaining performance obligations primarily include noncancelable purchase orders and noncancelable software subscriptions and cloud service contracts. | |||
Disaggregation of Revenue [Line Items] | ||||
Revenue from Contract with Customer, Excluding Assessed Tax | $ 674,313 | $ 554,275 | $ 2,021,647 | $ 1,615,352 |
Transferred at Point in Time [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from Contract with Customer, Excluding Assessed Tax | 538,118 | 1,600,575 | ||
Transferred over Time [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from Contract with Customer, Excluding Assessed Tax | 136,195 | 421,072 | ||
Americas [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from Contract with Customer, Excluding Assessed Tax | 264,973 | 780,369 | ||
Europe [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from Contract with Customer, Excluding Assessed Tax | 179,227 | 563,658 | ||
Asia [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from Contract with Customer, Excluding Assessed Tax | 230,113 | 677,620 | ||
Diagnostics [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from Contract with Customer, Excluding Assessed Tax | 268,147 | 788,328 | ||
Life Sciences [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from Contract with Customer, Excluding Assessed Tax | 222,191 | 675,807 | ||
Applied Markets [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from Contract with Customer, Excluding Assessed Tax | 183,975 | 557,512 | ||
Discovery & Analytical Solutions [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from Contract with Customer, Excluding Assessed Tax | 406,166 | 385,382 | 1,233,319 | 1,130,270 |
Discovery & Analytical Solutions [Member] | Transferred at Point in Time [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from Contract with Customer, Excluding Assessed Tax | 290,929 | 874,517 | ||
Discovery & Analytical Solutions [Member] | Transferred over Time [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from Contract with Customer, Excluding Assessed Tax | 115,237 | 358,802 | ||
Discovery & Analytical Solutions [Member] | Americas [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from Contract with Customer, Excluding Assessed Tax | 169,366 | 497,833 | ||
Discovery & Analytical Solutions [Member] | Europe [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from Contract with Customer, Excluding Assessed Tax | 110,747 | 357,766 | ||
Discovery & Analytical Solutions [Member] | Asia [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from Contract with Customer, Excluding Assessed Tax | 126,053 | 377,720 | ||
Discovery & Analytical Solutions [Member] | Diagnostics [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from Contract with Customer, Excluding Assessed Tax | 0 | 0 | ||
Discovery & Analytical Solutions [Member] | Life Sciences [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from Contract with Customer, Excluding Assessed Tax | 222,191 | 675,807 | ||
Discovery & Analytical Solutions [Member] | Applied Markets [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from Contract with Customer, Excluding Assessed Tax | 183,975 | 557,512 | ||
Diagnostics [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from Contract with Customer, Excluding Assessed Tax | 268,147 | $ 168,893 | 788,328 | $ 485,082 |
Diagnostics [Member] | Transferred at Point in Time [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from Contract with Customer, Excluding Assessed Tax | 247,189 | 726,058 | ||
Diagnostics [Member] | Transferred over Time [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from Contract with Customer, Excluding Assessed Tax | 20,958 | 62,270 | ||
Diagnostics [Member] | Americas [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from Contract with Customer, Excluding Assessed Tax | 95,607 | 282,536 | ||
Diagnostics [Member] | Europe [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from Contract with Customer, Excluding Assessed Tax | 68,480 | 205,892 | ||
Diagnostics [Member] | Asia [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from Contract with Customer, Excluding Assessed Tax | 104,060 | 299,900 | ||
Diagnostics [Member] | Diagnostics [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from Contract with Customer, Excluding Assessed Tax | 268,147 | 788,328 | ||
Diagnostics [Member] | Life Sciences [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from Contract with Customer, Excluding Assessed Tax | 0 | 0 | ||
Diagnostics [Member] | Applied Markets [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenue from Contract with Customer, Excluding Assessed Tax | $ 0 | $ 0 |
Changes in Accounting Policies
Changes in Accounting Policies (Notes) | 9 Months Ended |
Sep. 30, 2018 | |
Accounting Policies [Abstract] | |
Basis of Presentation and Significant Accounting Policies [Text Block] | Changes in Accounting Policies Except for the changes below, the Company has consistently applied the accounting policies to all periods presented in these condensed consolidated financial statements. The Company adopted ASC 606, Revenue from Contracts with Customers ("ASC 606"), with a date of the initial application of January 1, 2018. As a result, the Company has changed its accounting policy for revenue recognition as detailed below. The Company applied ASC 606 using the modified retrospective method only to contracts that are not completed contracts as of January 1, 2018, and the cumulative effect of initially applying ASC 606 is recognized as an adjustment to the beginning retained earnings. Therefore, the comparative information has not been adjusted and continues to be reported under ASC 605. The details of the significant changes and quantitative impact of the changes are disclosed below. A. Sales of software subscriptions or sales of licenses and maintenance in bundled arrangements The Company previously recognized revenue from software licenses sold together with maintenance and/or consulting services upon shipment using the residual method, provided that the undelivered items in the arrangement have value to the customer on a stand-alone basis and vendor-specific objective evidence ("VSOE") of fair value can be determined. If VSOE of fair value for the undelivered elements cannot be established, the Company deferred all revenue from the arrangement until the earlier of the point at which such sufficient VSOE does exist or all elements of the arrangement have been delivered, or if the undelivered element is maintenance, then the Company recognized the entire fee ratably over the maintenance period. Under ASC 606, the total consideration in the contract is allocated to all products and services based on their stand-alone selling prices. The stand-alone selling prices are determined based on the list prices at which the Company sells the software license, software subscription, maintenance and/or consulting services. Accordingly, the Company now recognizes higher license revenue upfront and less service revenue over time. B. Sales of instruments The Company previously recognized revenue from sale of instruments when persuasive evidence of an arrangement existed, delivery had occurred, the price to the buyer was fixed or determinable, and collectability was reasonably assured. For certain sales of instruments that included customer-specified acceptance criteria, the Company previously recognized revenue after the acceptance criteria had been met. Under ASC 606, revenue is recognized when the Company satisfies a performance obligation by transferring control of the product to a customer. Accordingly, the Company now recognizes product revenue upon delivery or when title has transferred to the customer, as the Company believes acceptance is perfunctory. C. Sales commissions The Company previously recognized commission fees related to sales of products and services as selling expenses when they were incurred. Under ASC 606, the Company capitalizes those commission fees as costs of obtaining a contract, when they are incremental and, if they are expected to be recovered, the Company amortizes them consistently with the pattern of transfer of the product or service to which the asset relates. If the expected amortization period is one year or less, the commission fee is expensed when incurred. D. Impacts on financial statements The following tables summarize the impacts of ASC 606 adoption on the Company's condensed consolidated financial statements for the quarter ended September 30, 2018 . Consolidated Balance Sheet As reported Adjustments Balances without adoption of ASC 606 (In thousands) Cash and cash equivalents $ 149,513 $ — $ 149,513 Accounts receivable, net 551,385 (11,554 ) 539,831 Inventories 354,244 7,451 361,695 Other current assets 110,353 (522 ) 109,831 Property, plant and equipment, net 317,049 — 317,049 Intangible assets, net 1,223,775 — 1,223,775 Goodwill 2,920,689 — 2,920,689 Other assets, net 235,347 — 235,347 Total assets $ 5,862,355 $ (4,625 ) $ 5,857,730 Current portion of long-term debt $ 20,072 $ — $ 20,072 Accounts payable 180,693 — 180,693 Accrued restructuring and contract termination charges 8,079 — 8,079 Accrued expenses and other current liabilities 475,743 18,912 494,655 Current liabilities of discontinued operations 2,165 — 2,165 Long-term debt 1,882,502 — 1,882,502 Long-term liabilities 720,632 — 720,632 Total liabilities 3,289,886 18,912 3,308,798 Commitments and contingencies Preferred stock — — — Common stock 111,087 — 111,087 Capital in excess of par value 89,970 — 89,970 Retained earnings 2,532,060 (23,537 ) 2,508,523 Accumulated other comprehensive loss (160,648 ) — (160,648 ) Total stockholders’ equity 2,572,469 (23,537 ) 2,548,932 Total liabilities and stockholders’ equity $ 5,862,355 $ (4,625 ) $ 5,857,730 Consolidated Statement of Operations Three Months Ended September 30, 2018 As reported Adjustments Balances without adoption of ASC 606 (In thousands) Product revenue $ 474,523 $ (3,198 ) $ 471,325 Service revenue 199,790 — 199,790 Total revenue 674,313 (3,198 ) 671,115 Cost of product revenue 213,672 (98 ) 213,574 Cost of service revenue 128,314 — 128,314 Total cost of revenue 341,986 (98 ) 341,888 Selling, general and administrative expenses 196,769 47 196,816 Research and development expenses 48,848 — 48,848 Restructuring and contract termination charges, net 6,508 — 6,508 Operating income from continuing operations 80,202 (3,147 ) 77,055 Interest and other expense, net 2,161 — 2,161 Income from continuing operations before income taxes 78,041 (3,147 ) 74,894 Provision for income taxes 2,596 (814 ) 1,782 Income from continuing operations 75,445 (2,333 ) 73,112 Loss on disposition of discontinued operations before income taxes (308 ) — (308 ) Benefit from income taxes on discontinued operations and dispositions (1,411 ) — (1,411 ) Gain from discontinued operations and dispositions 1,103 — 1,103 Net income $ 76,548 $ (2,333 ) $ 74,215 Consolidated Statement of Operations Nine Months Ended September 30, 2018 As reported Adjustments Balances without adoption of ASC 606 (In thousands) Product revenue $ 1,417,739 $ (25,562 ) $ 1,392,177 Service revenue 603,908 — 603,908 Total revenue 2,021,647 (25,562 ) 1,996,085 Cost of product revenue 663,651 (7,780 ) 655,871 Cost of service revenue 393,307 — 393,307 Total cost of revenue 1,056,958 (7,780 ) 1,049,178 Selling, general and administrative expenses 601,374 300 601,674 Research and development expenses 142,028 — 142,028 Restructuring and contract termination charges, net 13,086 — 13,086 Operating income from continuing operations 208,201 (18,082 ) 190,119 Interest and other expense, net 29,947 — 29,947 Income from continuing operations before income taxes 178,254 (18,082 ) 160,172 Provision for income taxes 12,101 (4,753 ) 7,348 Income from continuing operations 166,153 (13,329 ) 152,824 Loss on disposition of discontinued operations before income taxes (859 ) — (859 ) Benefit from income taxes on discontinued operations and dispositions (1,341 ) — (1,341 ) Gain from discontinued operations and dispositions 482 — 482 Net income $ 166,635 $ (13,329 ) $ 153,306 The adoption of ASC 606 increased comprehensive income by $2.3 million and $13.3 million in the Company's condensed consolidated statement of comprehensive income for the three and nine months ended September 30, 2018 , respectively. The adoption of ASC 606 had no impact on cash from or used in operating, investing, or financing activities in the Company's condensed consolidated statement of cash flows as of and for the nine months ended September 30, 2018 . |
Business Combinations
Business Combinations | 9 Months Ended |
Sep. 30, 2018 | |
Business Combinations [Abstract] | |
Business Combinations | Business Combinations Acquisitions in fiscal year 2018 During fiscal year 2018 , the Company has completed the acquisition of three businesses for aggregate consideration of $55.4 million . The acquired businesses were Shanghai Spectrum Instruments Co., Ltd. ("SSI"), which was acquired for total consideration of $15.4 million in cash, RHS Limited ("RHS"), which was acquired for total consideration of $19.4 million in cash, and DNA Laboratories Sdn. Bhd. ("DNA Labs"), which was acquired for total consideration of $9.0 million in cash. The Company has an obligation to pay the former shareholders of SSI an additional consideration of $2.5 million in fiscal year 2019, which at closing had a present value of $2.4 million , and additional contingent consideration of up to $2.0 million , which at closing had an estimated fair value of $1.7 million . The Company has an obligation to pay the former shareholders of DNA Labs an additional cash consideration of $1.0 million and a working capital adjustment of up to $0.7 million in the fourth quarter of fiscal year 2018. The Company also has an obligation to pay the former shareholders of DNA Labs additional contingent consideration of up to $8.0 million , which at closing had an estimated fair value of $5.8 million . The excess of the purchase price over the fair value of the acquired businesses' net assets represents cost and revenue synergies specific to the Company, as well as non-capitalizable intangible assets, such as the employee workforce acquired, and has been allocated to goodwill, which is not tax deductible. The Company has reported the operations for SSI within the results of the Company's DAS segment and the other acquisitions within the results of the Company's Diagnostics segment from the acquisition dates. Identifiable definite-lived intangible assets, such as core technology, trade names and customer relationships, acquired as part of these acquisitions had a weighted average amortization period of 14.6 years . The total purchase price for the acquisitions in fiscal year 2018 has been allocated to the estimated fair values of assets acquired and liabilities assumed as follows: 2018 Acquisitions (In thousands) Fair value of business combination: Cash payments $ 43,942 Other liability 3,354 Contingent consideration 7,500 Working capital and other adjustments 599 Less: cash acquired (1,138 ) Total $ 54,257 Identifiable assets acquired and liabilities assumed: Current assets $ 3,469 Property, plant and equipment 937 Other assets 430 Identifiable intangible assets: Core technology 15,957 Trade names 1,010 Customer relationships 10,800 Goodwill 28,423 Deferred taxes (2,524 ) Liabilities assumed (4,037 ) Debt assumed (208 ) Total $ 54,257 Subsequent to September 30, 2018 , the Company completed the acquisition of Dani Analitica S.r.l. (“Dani”), a company based in Milan, Italy, for a total consideration of €43.1 million in cash, net of cash acquired, as of the closing date. The operations for this acquisition will be reported within the results of the Company's DAS segment from the acquisition date. Acquisitions in fiscal year 2017 Acquisition of EUROIMMUN Medizinische Labordiagnostika AG. During fiscal year 2017 , the Company completed the acquisition of 99.98% of the outstanding stock of EUROIMMUN Medizinische Labordiagnostika AG (“EUROIMMUN”) for aggregate consideration of €1.2 billion (equivalent to $1.4 billion at December 19, 2017, the time of closing). The purchase price was funded by borrowings from the Company's senior unsecured revolving credit facility and senior unsecured term loan credit facility of $710.0 million and $200.0 million , respectively, and available cash on hand of $503.8 million . EUROIMMUN is based in Lübeck, Germany, has approximately 2,400 employees, and is recognized as a global leader in autoimmune testing and an emerging force in infectious disease and allergy testing. The excess of the purchase price over the fair value of the acquired net assets represents cost and revenue synergies specific to the Company, as well as non-capitalizable intangible assets, such as the employee workforce acquired. As a result of the acquisition, the Company recorded goodwill of $581.2 million , which is not tax deductible, and intangible assets of $907.4 million . The Company has reported the operations for this acquisition within the results of the Company's Diagnostics segment from the acquisition date. Identifiable definite-lived intangible assets, such as core technology, trade names and customer relationships, acquired as part of this acquisition had a weighted average amortization period of 16.1 years . Other acquisitions in 2017. During fiscal year 2017, the Company also completed the acquisition of two other businesses for aggregate consideration of $142.0 million . The acquired businesses were Tulip Diagnostics Private Limited (“Tulip”), which was acquired for total consideration of $127.3 million in cash and one other business acquired for total consideration of $14.7 million in cash. At the time of closing, the Company had a potential obligation to pay the former shareholders of Tulip up to INR 1.6 billion , equivalent to $25.2 million , in additional consideration over a two year period that is accounted for as compensation expense in the Company's financial statements over a two year period and is excluded from the purchase price allocation shown below. The excess of the purchase prices over the fair values of the acquired businesses' net assets represents cost and revenue synergies specific to the Company, as well as non-capitalizable intangible assets, such as the employee workforces acquired, and has been allocated to goodwill, which is not tax deductible. The Company has reported the operations of Tulip within the results of the Company's Diagnostics segment and the other acquired business within the results of the Company's DAS segment from the acquisition date. Identifiable definite-lived intangible assets, such as core technology, trade names and customer relationships, acquired as part of these acquisitions had a weighted average amortization period of 11.8 years . During the first quarter of fiscal year 2018, the Company paid the former shareholders of Tulip a portion of the additional consideration amounting to INR 716.3 million (equivalent to $11.3 million ). As of September 30, 2018 , the Company may have to pay the former shareholders of Tulip additional consideration of up to INR 803.6 million (currently equivalent to $11.1 million ) in the first quarter of fiscal year 2019. The total purchase price for the acquisitions in fiscal year 2017 has been allocated to the estimated fair values of assets acquired and liabilities assumed as follows: EUROIMMUN Other Acquisitions (In thousands) Fair value of business combination: Cash payments $ 1,413,780 $ 140,861 Other liability — 1,273 Working capital and other adjustments — (93 ) Less: cash acquired (25,018 ) (2,439 ) Total $ 1,388,762 $ 139,602 Identifiable assets acquired and liabilities assumed: Current assets $ 121,174 $ 16,268 Property, plant and equipment 130,512 11,356 Other assets 49,679 1,691 Identifiable intangible assets: Core technology 160,000 12,400 Trade names 36,000 3,000 Customer relationships 710,000 43,700 In-process research and development ("IPR&D") 1,400 — Goodwill 581,172 75,250 Deferred taxes (253,288 ) (15,735 ) Liabilities assumed (86,530 ) (8,328 ) Debt assumed (61,357 ) — Total $ 1,388,762 $ 139,602 EUROIMMUN's revenue and net loss for the period from the acquisition date to December 31, 2017 were $13.5 million and $1.0 million , respectively. The following unaudited pro forma information presents the combined financial results for the Company and EUROIMMUN as if the acquisition of EUROIMMUN had been completed at the beginning of fiscal year 2016: Three Months Ended October 1, 2017 Nine Months Ended October 1, 2017 (In thousands, except per share data) Pro Forma Statement of Operations Information (Unaudited): Revenue $ 640,154 $ 1,846,233 Income from continuing operations 94,055 172,672 Basic earnings per share: Income from continuing operations $ 0.86 $ 1.57 Diluted earnings per share: Income from continuing operations $ 0.85 $ 1.56 The unaudited pro forma information for the three and nine months ended October 1, 2017 has been calculated after applying the Company's accounting policies and the impact of acquisition date fair value adjustments. These pro forma condensed consolidated financial results have been prepared for comparative purposes only and include certain adjustments, such as increased interest expense on debt obtained to finance the transaction and increased amortization for the acquired intangible assets recorded at fair value. The pro forma information does not reflect the effect of costs or synergies that would have been expected to result from the integration of the acquisition. The pro forma information does not purport to be indicative of the results of operations that actually would have resulted had the combination occurred at the beginning of each period presented, or of future results of the consolidated entities. The preliminary allocations of the purchase prices for acquisitions are based upon initial valuations. The Company's estimates and assumptions underlying the initial valuations are subject to the collection of information necessary to complete its valuations within the measurement periods, which are up to one year from the respective acquisition dates. The primary areas of the preliminary purchase price allocations that are not yet finalized relate to the fair value of certain tangible and intangible assets acquired and liabilities assumed, assets and liabilities related to income taxes and related valuation allowances, and residual goodwill. The Company expects to continue to obtain information to assist in determining the fair values of the net assets acquired at the acquisition dates during the measurement periods. During the measurement periods, the Company will adjust assets or liabilities if new information is obtained about facts and circumstances that existed as of the acquisition dates that, if known, would have resulted in the recognition of those assets and liabilities as of those dates. These adjustments will be made in the periods in which the amounts are determined and the cumulative effect of such adjustments will be calculated as if the adjustments had been completed as of the acquisition dates. All changes that do not qualify as adjustments made during the measurement periods are also included in current period earnings. Allocations of the purchase price for acquisitions are based on estimates of the fair value of the net assets acquired and are subject to adjustment upon finalization of the purchase price allocations. The accounting for business combinations requires estimates and judgments as to expectations for future cash flows of the acquired business, and the allocation of those cash flows to identifiable intangible assets, in determining the estimated fair values for assets acquired and liabilities assumed. The fair values assigned to tangible and intangible assets acquired and liabilities assumed, including contingent consideration, are based on management’s estimates and assumptions, as well as other information compiled by management, including valuations that utilize customary valuation procedures and techniques. Contingent consideration is measured at fair value at the acquisition date, based on the probability that revenue thresholds or product development milestones will be achieved during the earnout period, with changes in the fair value after the acquisition date affecting earnings to the extent it is to be settled in cash. Increases or decreases in the fair value of contingent consideration liabilities primarily result from changes in the estimated probabilities of achieving revenue thresholds, changes in discount rates or product development milestones during the earnout period. During the third quarter of fiscal year 2018 , the Company obtained information relevant to determining the fair values of certain tangible and intangible assets acquired, and liabilities assumed, related to recent acquisitions and adjusted its purchase price allocation. Based on this information, for the EUROIMMUN acquisition, the Company recognized a decrease in deferred tax liabilities of $0.1 million , an increase in property and equipment of $0.5 million , a decrease in liabilities assumed of $1.2 million , a decrease in other assets of $0.3 million and a decrease in goodwill of $1.5 million during the third quarter of fiscal year 2018 . As of September 30, 2018 , the Company may have to pay contingent consideration related to acquisitions with open contingency periods of up to $76.5 million . As of September 30, 2018 , the Company has recorded contingent consideration obligations with an estimated fair value of $67.1 million , of which $61.3 million was recorded in accrued expenses and other current liabilities, and $5.8 million was recorded in long-term liabilities. As of December 31, 2017 , the Company had recorded contingent consideration obligations with an estimated fair value of $65.3 million , of which $52.2 million was recorded in accrued expenses and other current liabilities, and $13.1 million was recorded in long-term liabilities. If the actual results differ from the estimates and judgments used in these fair values, the amounts recorded in the condensed consolidated financial statements could result in a possible impairment of the intangible assets and goodwill, require acceleration of the amortization expense of definite-lived intangible assets or the recognition of additional contingent consideration which would be recognized as a component of operating expenses from continuing operations. Total acquisition and divestiture-related costs for the three and nine months ended September 30, 2018 were $1.7 million and $5.5 million , respectively. These amounts include $0.1 million and $1.0 million of net foreign exchange gain related to the foreign currency denominated stay bonus associated with the Tulip acquisition for the three and nine months ended September 30, 2018 , respectively. Total acquisition and divestiture-related costs (income) for the three and nine months ended October 1, 2017 were $(30.8) million and $(30.1) million , respectively. These amounts include $36.3 million and $42.0 million of net foreign exchange gain related to the foreign currency forward contracts associated with the planned acquisition of EUROIMMUN for the three and nine months ended October 1, 2017 , respectively. These acquisition and divestiture-related costs (income) were expensed as incurred and recorded in selling, general and administrative expenses and interest and other (income) expense, net in the Company's condensed consolidated statements of operations. |
Discontinued Operations
Discontinued Operations | 9 Months Ended |
Sep. 30, 2018 | |
Discontinued Operations and Disposal Groups [Abstract] | |
Discontinued Operations | Disposition of Businesses and Assets As part of the Company’s continuing efforts to focus on higher growth opportunities, the Company has discontinued certain businesses. When the discontinued operations represented a strategic shift that will have a major effect on the Company's operations and financial statements, the Company has accounted for these businesses as discontinued operations and accordingly, has presented the results of operations and related cash flows as discontinued operations. Any business deemed to be a discontinued operation prior to the adoption of ASU 2014-08, Reporting Discontinued Operations and Disclosures of Disposals of Components of An Entity, continues to be reported as a discontinued operation, and the results of operations and related cash flows are presented as discontinued operations for all periods presented. Any remaining assets and liabilities of these businesses have been presented separately, and are reflected within assets and liabilities of discontinued operations in the accompanying condensed consolidated balance sheets as of September 30, 2018 and December 31, 2017 . During the third quarter of fiscal year 2018 , the Company completed the sale of substantially all of the assets and liabilities related to its multispectral imaging business for aggregate consideration of $37.3 million , recognizing a pre-tax gain of $13.0 million . The pre-tax gain is included in interest and other expense, net in the consolidated statement of operations. The multispectral imaging business was a component of the Company's DAS segment. The divestiture of the multispectral imaging business has not been classified as a discontinued operation in this Form 10-Q because the disposition does not represent a strategic shift that will have a major effect on the Company's operations and financial statements. On May 1, 2017 (the "Varex Closing Date"), the Company completed the sale of its Medical Imaging business to Varex Imaging Corporation ("Varex") pursuant to the terms of the Master Purchase and Sale Agreement, dated December 21, 2016 (the “Agreement”), by and between the Company and Varian Medical Systems, Inc. ("Varian") and the subsequent Assignment and Assumption Agreement, dated January 27, 2017, between Varian and Varex, pursuant to which Varian assigned its rights under the Agreement to Varex. On the Varex Closing Date, the Company received consideration of approximately $277.4 million for the sale of the Medical Imaging business. During fiscal year 2017, the Company paid Varex $4.2 million to settle a post-closing working capital adjustment. During fiscal year 2017, the Company recorded a pre-tax gain of $179.6 million and income tax expense of $43.1 million related to the sale of the Medical Imaging business in discontinued operations and dispositions. The corresponding tax liability was recorded within the other tax liabilities in the condensed consolidated balance sheet, and the Company expects to utilize tax attributes to minimize the tax liability. Following the closing, the Company provided certain customary transitional services during a period of up to 12 months . Commercial transactions between the parties following the closing of the transaction are not expected to be significant. During fiscal year 2017, the Company sold Suzhou PerkinElmer Medical Laboratory Co., Ltd. for aggregate consideration of $2.3 million , recognizing a pre-tax loss of $1.1 million . The pre-tax loss recognized in fiscal year 2017 is included in interest and other expense, net in the consolidated statement of operations. Suzhou PerkinElmer Medical Laboratory Co., Ltd. was a component of the Company's Diagnostics segment. The divestiture of Suzhou PerkinElmer Medical Laboratory Co., Ltd. has not been classified as a discontinued operation in this Form 10-Q because the disposition does not represent a strategic shift that will have a major effect on the Company's operations and financial statements. The summary pre-tax operating results of the discontinued operations, were as follows for the three and nine months ended: Three Months Ended Nine Months Ended September 30, October 1, September 30, October 1, (In thousands) Revenue $ — $ — $ — $ 44,343 Cost of revenue — — — 32,933 Selling, general and administrative expenses — — — 5,869 Research and development expenses — — — 4,891 (Loss) income from discontinued operations before income taxes $ — $ — $ — $ 650 |
Restructuring and Lease Charges
Restructuring and Lease Charges, Net | 9 Months Ended |
Sep. 30, 2018 | |
Restructuring and Related Activities [Abstract] | |
Restructuring and Lease Charges, Net | Restructuring and Contract Termination Charges, Net The Company has undertaken a series of restructuring actions related to the impact of acquisitions and divestitures, the alignment of the Company's operations with its growth strategy, the integration of its business units and its productivity initiatives. The current portion of restructuring and contract termination charges is recorded in accrued restructuring and contract termination charges and the long-term portion of restructuring and contract termination charges is recorded in long-term liabilities. The activities associated with these plans have been reported as restructuring and contract termination charges, net, as applicable, and are included as a component of income from continuing operations. The Company implemented a restructuring plan in each of the first and third quarters of fiscal year 2018 consisting of workforce reductions principally intended to realign resources to emphasize growth initiatives (the "Q1 2018 Plan" and "Q3 2018 Plan", respectively). The Company implemented a restructuring plan in each of the fourth and third quarters of fiscal year 2017 consisting of workforce reductions principally intended to realign resources to emphasize growth initiatives (the "Q4 2017 Plan" and "Q3 2017 Plan", respectively). The Company implemented a restructuring plan in the first quarter of fiscal year 2017 consisting of workforce reductions and the closure of excess facility space principally intended to focus resources on higher growth end markets (the "Q1 2017 Plan"). Details of the plans initiated in previous years (the “Previous Plans”) are discussed more fully in Note 4 to the audited consolidated financial statements in the 2017 Form 10-K. The following table summarizes the reductions in headcount, the initial restructuring or contract termination charges by reporting segment, and the dates by which payments were substantially completed, or the dates by which payments are expected to be substantially completed, for restructuring actions implemented during fiscal years 2018 and 2017 in continuing operations: Workforce Reductions Closure of Excess Facility Total (Expected) Date Payments Substantially Completed by Headcount Reduction Discovery & Analytical Solutions Diagnostics Discovery & Analytical Solutions Diagnostics Severance Excess Facility (In thousands, except headcount data) Q3 2018 Plan 61 $ 1,146 $ 618 $ — $ — $ 1,764 Q2 FY2019 — Q1 2018 Plan 47 5,096 902 — — 5,998 Q2 FY2019 — Q4 2017 Plan 29 1,680 255 — — 1,935 Q1 FY2019 — Q3 2017 Plan 27 1,321 1,021 — — 2,342 Q4 FY2018 — Q1 2017 Plan 90 5,000 1,631 33 33 6,697 Q4 FY2018 Q4 FY2018 The Company does not currently expect to incur any future charges for these plans. The Company expects to make payments under the Previous Plans for remaining residual lease obligations, with terms varying in length, through fiscal year 2022 . In connection with the termination of various contractual commitments, the Company recorded additional pre-tax charges of $4.7 million and $5.0 million during the three and nine months ended September 30, 2018 , respectively, in the DAS segment. At September 30, 2018 , the Company had $9.4 million recorded for accrued restructuring and contract termination charges, of which $8.1 million was recorded in short-term accrued restructuring and contract termination charges and $1.3 million was recorded in long-term liabilities. At December 31, 2017 , the Company had $14.0 million recorded for accrued restructuring and contract termination charges, of which $8.8 million was recorded in short-term accrued restructuring and contract termination charges, $2.3 million was recorded in long-term liabilities and $2.9 million was recorded in other reserves. The following table summarizes the Company's restructuring and contract termination accrual balances and related activity by restructuring plan, as well as contract termination accrual balances and related activity, during the nine months ended September 30, 2018 : Balance at December 31, 2017 2018 Charges 2018 Changes in Estimates, Net 2018 Amounts Paid Balance at September 30, 2018 (In thousands) Severance: Q3 2018 Plan $ — $ 1,764 $ — $ — $ 1,764 Q1 2018 Plan — 5,998 — (4,273 ) 1,725 Q4 2017 Plan 1,919 — — (1,538 ) 381 Q3 2017 Plan 2,072 — — (868 ) 1,204 Q1 2017 Plan 2,498 — — (1,174 ) 1,324 Facility: Q1 2017 Plan 33 — — (22 ) 11 Previous Plans 4,399 — 353 (2,106 ) 2,646 Restructuring 10,921 7,762 353 (9,981 ) 9,055 Contract Termination 3,048 4,744 227 (7,653 ) 366 Total Restructuring and Contract Termination $ 13,969 $ 12,506 $ 580 $ (17,634 ) $ 9,421 |
Interest and Other Expense (Inc
Interest and Other Expense (Income), Net | 9 Months Ended |
Sep. 30, 2018 | |
Other Income and Expenses [Abstract] | |
Interest and Other Expense (Income), Net | Interest and Other Expense, Net Interest and other expense, net, consisted of the following: Three Months Ended Nine Months Ended September 30, October 1, September 30, October 1, (In thousands) Interest income $ (316 ) $ (802 ) $ (754 ) $ (1,512 ) Interest expense 16,684 10,974 50,745 32,510 (Gain) loss on disposition of businesses and assets, net (see Note 5) (13,031 ) — (13,031 ) 301 Other income, net (1,176 ) (37,188 ) (7,013 ) (45,096 ) Total interest and other expense (income), net $ 2,161 $ (27,016 ) $ 29,947 $ (13,797 ) Foreign currency transaction losses (gains) were $4.3 million and $(8.8) million for the three and nine months ended September 30, 2018 , respectively. Foreign currency transaction gains were $2.7 million and $5.4 million for the three and nine months ended October 1, 2017 , respectively. Net (gains) losses from forward currency hedge contracts were $(2.5) million and $9.8 million for the three and nine months ended September 30, 2018 , respectively. Net gains from forward currency hedge contracts were $32.7 million and $34.4 million for the three and nine months ended October 1, 2017 , respectively. The other components of net periodic pension credit were $2.5 million and $7.5 million for the three and nine months ended September 30, 2018 , respectively. The other components of net periodic pension credit were $1.8 million and $5.4 million for the three and nine months ended October 1, 2017 , respectively. These amounts were included in other income, net. |
Inventories, Net
Inventories, Net | 9 Months Ended |
Sep. 30, 2018 | |
Inventory Disclosure [Abstract] | |
Inventories, Net | Inventories Inventories as of September 30, 2018 and December 31, 2017 consisted of the following: September 30, December 31, (In thousands) Raw materials $ 117,266 $ 122,100 Work in progress 21,389 18,452 Finished goods 215,589 211,123 Total inventories $ 354,244 $ 351,675 |
Income Taxes
Income Taxes | 9 Months Ended |
Sep. 30, 2018 | |
Income Tax Disclosure [Abstract] | |
Income Taxes | Income Taxes The Company regularly reviews its tax positions in each significant taxing jurisdiction in the process of evaluating its unrecognized tax benefits. The Company makes adjustments to its unrecognized tax benefits when: (i) facts and circumstances regarding a tax position change, causing a change in management’s judgment regarding that tax position; (ii) a tax position is effectively settled with a tax authority at a differing amount; and/or (iii) the statute of limitations expires regarding a tax position. The total provision for income taxes included in the condensed consolidated statement of operations consisted of the following: Three Months Ended Nine Months Ended September 30, October 1, September 30, October 1, (In thousands) Continuing operations $ 2,596 $ 8,508 $ 12,101 $ 20,495 Discontinued operations (1,411 ) 5,262 (1,341 ) 42,405 Total $ 1,185 $ 13,770 $ 10,760 $ 62,900 At September 30, 2018 , the Company had gross tax effected unrecognized tax benefits of $30.5 million , of which $28.8 million , if recognized, would affect the continuing operations effective tax rate. The remaining amount, if recognized, would affect discontinued operations. The Company believes that it is reasonably possible that approximately $6.4 million of its uncertain tax positions at September 30, 2018 , including accrued interest and penalties, and net of tax benefits, may be resolved over the next twelve months as a result of lapses in applicable statutes of limitations and potential settlements. Various tax years after 2010 remain open to examination by certain jurisdictions in which the Company has significant business operations, such as Finland, Germany, Italy, Netherlands, Singapore, the United Kingdom and the United States. The tax years under examination vary by jurisdiction. During the first nine months of fiscal years 2018 and 2017 , the Company recorded net discrete income tax benefit s of $7.1 million and $7.0 million , respectively. The discrete tax benefits in the first nine months of fiscal year 2018 include recognition of excess tax benefits on stock compensation of $5.4 million and tax benefits from the change in tax reform estimates of $5.4 million , offset by the tax expense of $7.1 million related to the sale of the multispectral imaging business. In the first nine months of 2017, discrete tax benefits include recognition of $3.6 million of excess tax benefits on stock compensation. On December 22, 2017, the President of the United States signed the Tax Act, which makes broad and complex changes to the U.S. Internal Revenue Code. Changes include, but are not limited to: (1) the lowering of the U.S. corporate tax rate from 35% to 21%; (2) the transition of U.S. international taxation from a worldwide tax system to a modified territorial system with a one-time transition tax on the deemed repatriation of cumulative foreign earnings as of December 31, 2017; (3) a new provision designed to tax global intangible low-taxed income (GILTI); (4) the creation of the base erosion anti-abuse tax (BEAT), which is effectively a new minimum tax; (5) the deduction for foreign-derived intangible income (FDII); (6) a new limitation on deductible interest expense; (7) the repeal of the domestic production activity deduction; and (8) limitations on the deductibility of certain executive compensation. The Company is applying the guidance in ASU 2018-05 (see Note 1, Basis of Presentation ) when accounting for the enactment date effects of the Tax Act. At September 30, 2018 , the Company has not completed the accounting for all of the tax effects of the Tax Act; however, it has made a reasonable estimate of their effects based on currently available information. As described below, the Company has made changes to certain aspects of the provision for the Tax Act. Management will continue to refine the calculations as additional guidance is available. These estimates may be affected as additional clarification and implementation guidance becomes available. These changes could be material to income tax expense. Remeasurement: The Company remeasured its future tax benefits and liabilities at the enacted tax rate of 21% and provided a provisional amount of $21.5 million during fiscal year 2017. During the three and nine months ended September 30, 2018 , the Company recognized a tax benefit of $1.8 million and $0.3 million , respectively, for the remeasurement of certain future tax liabilities and included these adjustments as a component of the provision for income tax from continuing operations. One-Time Transition Tax: The Tax Act requires the Company to pay a one-time transition tax on the unremitted earnings of foreign subsidiaries. Based on available information, the Company estimated the tax on the deemed repatriation of foreign earnings and has recorded a tax expense of $85.0 million in continuing operations at December 31, 2017. During the three months ended September 30, 2018 , the Company refined its calculations of the one-time transition tax based on newly issued guidance from the Internal Revenue Service and recorded a tax benefit of $5.1 million in continuing operations. GILTI, FDII, and other provisions: For fiscal year beginning in 2018, the Company is subject to several provisions of the Tax Act including computations under GILTI, FDII, and other provisions. Management has made a reasonable estimate of the impact of each provision of the Tax Act on the Company's effective tax rate for the nine months ended September 30, 2018 . Management will continue to refine the provisional estimates for the computations of the GILTI, FDII, and other provisions as additional clarification and implementation guidance becomes available. Under U.S. GAAP, the Company is allowed to set an accounting policy on GILTI. The choice is either to (1) treat taxes due on future U.S. inclusions in taxable income related to GILTI as a current-period expense when incurred (the “period cost method”), or (2) factor such amounts into the measurement of deferred taxes (the “deferred method”). At September 30, 2018 , the Company is still evaluating the GILTI provisions and the analysis of future taxable income that is subject to GILTI, thus, the Company has not recorded any potential deferred tax effects related to the GILTI in the financial statements and has not made a policy decision regarding whether to record deferred taxes on GILTI or use the period cost method. |
Debt
Debt | 9 Months Ended |
Sep. 30, 2018 | |
Debt Disclosure [Abstract] | |
Debt | Debt Senior Unsecured Revolving Credit Facility. The Company's senior unsecured revolving credit facility provides for $1.0 billion of revolving loans and has an initial maturity of August 11, 2021 . As of September 30, 2018 , undrawn letters of credit in the aggregate amount of $11.4 million were treated as issued and outstanding when calculating the borrowing availability under the senior unsecured revolving credit facility. As of September 30, 2018 , the Company had $577.6 million available for additional borrowing under the facility. The Company uses the senior unsecured revolving credit facility for general corporate purposes, which may include working capital, refinancing existing indebtedness, capital expenditures, share repurchases, acquisitions and strategic alliances. The interest rates under the senior unsecured revolving credit facility are based on the Eurocurrency rate or the base rate at the time of borrowing, plus a margin. The base rate is the higher of (i) the rate of interest in effect for such day as publicly announced from time to time by JP Morgan Chase Bank, N.A. as its "prime rate," (ii) the Federal Funds rate plus 50 basis points or (iii) an adjusted one-month Libor plus 1.00%. The Eurocurrency margin as of September 30, 2018 was 110 basis points. The weighted average Eurocurrency interest rate as of September 30, 2018 was 2.19%, resulting in a weighted average effective Eurocurrency rate, including the margin, of 3.29%, which was the interest applicable to the borrowings outstanding under the Eurocurrency rate as of September 30, 2018 . As of September 30, 2018 , the senior unsecured revolving credit facility had outstanding borrowings of $411.0 million , and $2.6 million of unamortized debt issuance costs. As of December 31, 2017 , the senior unsecured revolving credit facility had outstanding borrowings of $625.0 million , and $3.3 million of unamortized debt issuance costs. The credit agreement for the facility contains affirmative, negative and financial covenants and events of default. The financial covenants include a debt-to-capital ratio that remains applicable for so long as the Company's debt is rated as investment grade. In the event that the Company's debt is not rated as investment grade, the debt-to-capital ratio covenant is replaced with a maximum consolidated leverage ratio covenant and a minimum consolidated interest coverage ratio covenant. Senior Unsecured Term Loan Credit Facility . The Company entered into a senior unsecured term loan credit facility on August 11, 2017 that provided for $200.0 million of term loans and had an initial maturity of twelve months from December 19, 2017, the date of the initial draw. The Company utilized the senior unsecured term loan facility for the acquisition of EUROIMMUN. The interest rates under the senior unsecured term loan credit facility were based on the Eurocurrency rate or the base rate at the time of the borrowing, plus a margin. The base rate is the higher of (i) the rate of interest in effect for such day as publicly announced from time to time by JP Morgan Chase Bank, N.A. as its "prime rate," (ii) the Federal Funds rate plus 50 basis points or (iii) an adjusted one-month Libor plus 1.00%. In April 2018, the Company paid in full the outstanding balance of $200.0 million on the Company’s senior unsecured term loan credit facility, from the proceeds of the 0.6% senior unsecured notes due in 2021 that were issued in April 2018. 5% Senior Unsecured Notes due in 2021. On October 25, 2011, the Company issued $500.0 million aggregate principal amount of senior unsecured notes due in 2021 (the “November 2021 Notes”) in a registered public offering and received $493.6 million of net proceeds from the issuance. The November 2021 Notes were issued at 99.4% of the principal amount, which resulted in a discount of $3.1 million . As of September 30, 2018 , the November 2021 Notes had an aggregate carrying value of $497.2 million , net of $1.2 million of unamortized original issue discount and $1.7 million of unamortized debt issuance costs. As of December 31, 2017 , the November 2021 Notes had an aggregate carrying value of $496.6 million , net of $1.4 million of unamortized original issue discount and $2.0 million of unamortized debt issuance costs. The November 2021 Notes mature in November 2021 and bear interest at an annual rate of 5% . Interest on the November 2021 Notes is payable semi-annually on May 15th and November 15th each year. Prior to August 15, 2021 (three months prior to their maturity date), the Company may redeem the November 2021 Notes in whole or in part, at its option, at a redemption price equal to the greater of (i) 100% of the principal amount of the November 2021 Notes to be redeemed, plus accrued and unpaid interest, or (ii) the sum of the present values of the remaining scheduled payments of principal and interest in respect to the November 2021 Notes being redeemed, discounted on a semi-annual basis, at the Treasury Rate plus 45 basis points, plus accrued and unpaid interest. At any time on or after August 15, 2021 (three months prior to their maturity date), the Company may redeem the November 2021 Notes, at its option, at a redemption price equal to 100% of the principal amount of the November 2021 Notes to be redeemed plus accrued and unpaid interest. Upon a change of control (as defined in the indenture governing the November 2021 Notes) and a contemporaneous downgrade of the November 2021 Notes below investment grade, each holder of November 2021 Notes will have the right to require the Company to repurchase such holder's November 2021 Notes for 101% of their principal amount, plus accrued and unpaid interest. 1.875% Senior Unsecured Notes due 2026. On July 19, 2016, the Company issued €500.0 million aggregate principal amount of senior unsecured notes due in 2026 (the “2026 Notes”) in a registered public offering and received approximately €492.3 million of net proceeds from the issuance. The 2026 Notes were issued at 99.118% of the principal amount, which resulted in a discount of €4.4 million . The 2026 Notes mature in July 2026 and bear interest at an annual rate of 1.875% . Interest on the 2026 Notes is payable annually on July 19th each year. The proceeds from the 2026 Notes were used to pay in full the outstanding balance of the Company's previous senior unsecured revolving credit facility. As of September 30, 2018 , the 2026 Notes had an aggregate carrying value of $572.3 million , net of $4.2 million of unamortized original issue discount and $3.9 million of unamortized debt issuance costs. As of December 31, 2017 , the 2026 Notes had an aggregate carrying value of $591.7 million , net of $4.7 million of unamortized original issue discount and $4.3 million of unamortized debt issuance costs. Prior to April 19, 2026 (three months prior to their maturity date), the Company may redeem the 2026 Notes in whole at any time or in part from time to time, at its option, at a redemption price equal to the greater of (i) 100% of the principal amount of the 2026 Notes to be redeemed, or (ii) the sum of the present values of the remaining scheduled payments of principal and interest in respect to the 2026 Notes being redeemed, discounted on an annual basis, at the applicable Comparable Government Bond Rate (as defined in the indenture governing the 2026 Notes) plus 35 basis points; plus, in each case, accrued and unpaid interest. In addition, at any time on or after April 19, 2026 (three months prior to their maturity date), the Company may redeem the 2026 Notes, at its option, at a redemption price equal to 100% of the principal amount of the 2026 Notes due to be redeemed plus accrued and unpaid interest. Upon a change of control (as defined in the indenture governing the 2026 Notes) and a contemporaneous downgrade of the 2026 Notes below investment grade, the Company will, in certain circumstances, make an offer to purchase the 2026 Notes at a price equal to 101% of their principal amount plus any accrued and unpaid interest. 0.6% Senior Unsecured Notes due in 2021. On April 11, 2018, the Company issued €300.0 million aggregate principal amount of senior unsecured notes due in 2021 (the “April 2021 Notes”) in a registered public offering and received approximately €298.7 million of net proceeds from the issuance. The April 2021 Notes were issued at 99.95% of the principal amount, which resulted in a discount of €0.2 million . As of September 30, 2018 , the April 2021 Notes had an aggregate carrying value of $345.8 million , net of $0.2 million of unamortized original issue discount and $2.3 million of unamortized debt issuance costs. The April 2021 Notes mature in April 2021 and bear interest at an annual rate of 0.6% . Interest on the April 2021 Notes is payable annually on April 9th each year. The proceeds from the April 2021 Notes were used to pay in full the outstanding balance of the Company’s senior unsecured term loan credit facility, and a portion of the outstanding senior unsecured revolving credit facility, and in each case the borrowings were incurred to pay a portion of the purchase price for the Company's acquisition of EUROIMMUN, which closed in December 19, 2017. Prior to the maturity date of the April 2021 Notes, the Company may redeem them in whole at any time or in part from time to time, at its option, at a redemption price equal to the greater of (i) 100% of the principal amount of the April 2021 Notes to be redeemed, or (ii) the sum of the present values of the remaining scheduled payments of principal and interest in respect to the April 2021 Notes being redeemed, discounted on an annual basis, at the applicable Comparable Government Bond Rate (as defined in the indenture governing the April 2021 Notes) plus 15 basis points; plus, in each case, accrued and unpaid interest. Upon a change of control (as defined in the indenture governing the April 2021 Notes) and a contemporaneous downgrade of the April 2021 Notes below investment grade, the Company will, in certain circumstances, make an offer to purchase the April 2021 Notes at a price equal to 101% of their principal amount, plus accrued and unpaid interest. Other Debt Facilities. The Company's other debt facilities include Euro-denominated bank loans with an aggregate carrying value of $35.3 million (or €30.4 million ) and $57.2 million (or €47.6 million ) as of September 30, 2018 and December 31, 2017 , respectively. These bank loans are primarily utilized for financing fixed assets and are repaid in monthly or quarterly installments with maturity dates extending to 2031. Of these bank loans, loans in the aggregate amount of $35.1 million bear fixed interest rates between 1.1% and 5.5% and a loan in the amount of $0.2 million bears a variable interest rate based on the Euribor rate plus a margin of 1.5% . An aggregate amount of $5.4 million of the bank loans are secured by mortgages on real property and the remaining $29.9 million are unsecured. Certain credit agreements for the unsecured bank loans include financial covenants which are based on an equity ratio or an equity ratio and minimum interest coverage ratio. In addition, the Company has other unsecured revolving credit facilities and a secured bank loan in the amount of $8.1 million and $0.2 million , respectively, as of September 30, 2018 . The unsecured revolving debt facilities bear fixed interest rates between 0.05% and 2.30% . The secured bank loan of $0.2 million bears a fixed annual interest rate of 1.95% and is repaid in monthly installments until 2027. Financing Lease Obligations. In fiscal year 2012, the Company entered into agreements with the lessors of certain buildings that the Company is currently occupying and leasing to expand those buildings. The Company provided a portion of the funds needed for the construction of the additions to the buildings, and as a result the Company was considered the owner of the buildings during the construction period. At the end of the construction period, the Company was not reimbursed by the lessors for all of the construction costs. The Company is therefore deemed to have continuing involvement and the leases qualify as financing leases under sale-leaseback accounting guidance, representing debt obligations for the Company and non-cash investing and financing activities. As a result, the Company capitalized $29.3 million in property, plant and equipment, net, representing the fair value of the buildings with a corresponding increase to debt. The Company has also capitalized $11.5 million in additional construction costs necessary to complete the renovations to the buildings, which were funded by the lessors, with a corresponding increase to debt. At September 30, 2018 , the Company had $34.9 million recorded for these financing lease obligations, of which $1.5 million was recorded as short-term debt and $33.4 million was recorded as long-term debt. At December 31, 2017 , the Company had $35.9 million recorded for these financing lease obligations, of which $1.4 million was recorded as short-term debt and $34.5 million was recorded as long-term debt. The buildings are being depreciated on a straight-line basis over the terms of the leases to their estimated residual values, which will equal the remaining financing obligation at the end of the lease term. At the end of the lease term, the remaining balances in property, plant and equipment, net and debt will be reversed against each other. |
Earnings Per Share
Earnings Per Share | 9 Months Ended |
Sep. 30, 2018 | |
Earnings Per Share [Abstract] | |
Earnings Per Share | Earnings Per Share Basic earnings per share was computed by dividing net income by the weighted-average number of common shares outstanding during the period less restricted unvested shares. Diluted earnings per share was computed by dividing net income by the weighted-average number of common shares outstanding plus all potentially dilutive common stock equivalents, primarily shares issuable upon the exercise of stock options using the treasury stock method. The following table reconciles the number of shares utilized in the earnings per share calculations: Three Months Ended Nine Months Ended September 30, October 1, September 30, October 1, (In thousands) Number of common shares—basic 110,724 110,003 110,499 109,788 Effect of dilutive securities: Stock options 791 735 813 669 Restricted stock awards 232 255 198 196 Number of common shares—diluted 111,747 110,993 111,510 110,653 Number of potentially dilutive securities excluded from calculation due to antidilutive impact 358 14 346 377 Antidilutive securities include outstanding stock options with exercise prices and average unrecognized compensation cost in excess of the average fair market value of common stock for the related period. Antidilutive options were excluded from the calculation of diluted net income per share and could become dilutive in the future. |
Industry Segment Information
Industry Segment Information | 9 Months Ended |
Sep. 30, 2018 | |
Segment Reporting [Abstract] | |
Industry Segment Information | Industry Segment Information The Company discloses information about its operating segments based on the way that management organizes the segments within the Company for making operating decisions and assessing financial performance. The Company evaluates the performance of its operating segments based on revenue and operating income. Intersegment revenue and transfers are not significant. The accounting policies of the operating segments are the same as those described in Note 1 to the audited consolidated financial statements in the 2017 Form 10-K. The principal products and services of the Company's two operating segments are: • Discovery & Analytical Solutions . Provides products and services targeted towards the life sciences and applied markets. • Diagnostics . Develops diagnostics, tools and applications focused on clinically-oriented customers, especially within the reproductive health, emerging market diagnostics and applied genomics markets. The Diagnostics segment serves the diagnostics market. The Company has included the expenses for its corporate headquarters, such as legal, tax, audit, human resources, information technology, and other management and compliance costs, as well as the activity related to the mark-to-market adjustment on postretirement benefit plans, as “Corporate” below. The Company has a process to allocate and recharge expenses to the reportable segments when these costs are administered or paid by the corporate headquarters based on the extent to which the segment benefited from the expenses. These amounts have been calculated in a consistent manner and are included in the Company’s calculations of segment results to internally plan and assess the performance of each segment for all purposes, including determining the compensation of the business leaders for each of the Company’s operating segments. Revenue and operating income (loss) from continuing operations by operating segment are shown in the table below: Three Months Ended Nine Months Ended September 30, October 1, September 30, October 1, (In thousands) Discovery & Analytical Solutions Product revenue $ 247,250 $ 222,618 $ 748,270 $ 665,068 Service revenue 158,916 162,764 485,049 465,202 Total revenue 406,166 385,382 1,233,319 1,130,270 Operating income from continuing operations 48,381 47,258 149,243 128,604 Diagnostics Product revenue 227,273 132,201 669,469 378,466 Service revenue 40,874 36,692 118,859 106,616 Total revenue 268,147 168,893 788,328 485,082 Operating income from continuing operations 47,411 43,361 104,585 113,024 Corporate Operating loss from continuing operations (15,590 ) (12,581 ) (45,627 ) (39,596 ) Continuing Operations Product revenue 474,523 354,819 1,417,739 1,043,534 Service revenue 199,790 199,456 603,908 571,818 Total revenue 674,313 554,275 2,021,647 1,615,352 Operating income from continuing operations 80,202 78,038 208,201 202,032 Interest and other expense (income), net (see Note 7) 2,161 (27,016 ) 29,947 (13,797 ) Income from continuing operations before income taxes $ 78,041 $ 105,054 $ 178,254 $ 215,829 |
Stockholders' Equity
Stockholders' Equity | 9 Months Ended |
Sep. 30, 2018 | |
Stockholders' Equity Note [Abstract] | |
Stockholders' Equity | Stockholders’ Equity Comprehensive Income: The components of accumulated other comprehensive loss consisted of the following: September 30, December 31, (In thousands) Foreign currency translation adjustments $ (160,780 ) $ (46,582 ) Unrecognized prior service costs, net of income taxes 322 322 Unrealized net losses on securities, net of income taxes (190 ) (258 ) Accumulated other comprehensive loss $ (160,648 ) $ (46,518 ) Stock Repurchases: On July 27, 2016, the Board of Directors (the "Board") authorized the Company to repurchase up to 8.0 million shares of common stock under a stock repurchase program (the "Repurchase Program"). On July 23, 2018, the Board authorized the Company to immediately terminate the Repurchase Program and further authorized the Company to repurchase shares of common stock for an aggregate amount up to $250.0 million under a new stock repurchase program (the "New Repurchase Program"). The New Repurchase Program will expire on July 23, 2020 unless terminated earlier by the Board and may be suspended or discontinued at any time. During the nine months ended September 30, 2018 , the Company had no stock repurchases under either the Repurchase Program or the New Repurchase Program. No shares remain available for repurchase under the Repurchase Program due to its cancellation. As of September 30, 2018 , $250.0 million remained available for aggregate repurchases of shares under the New Repurchase Program. In addition, the Board has authorized the Company to repurchase shares of common stock to satisfy minimum statutory tax withholding obligations in connection with the vesting of restricted stock awards and restricted stock unit awards granted pursuant to the Company’s equity incentive plans and to satisfy obligations related to the exercise of stock options made pursuant to the Company's equity incentive plans. During the three months ended September 30, 2018 , the Company repurchased 3,807 shares of common stock for this purpose at an aggregate cost of $0.3 million . During the nine months ended September 30, 2018 , the Company repurchased 63,506 shares of common stock for this purpose at an aggregate cost of $5.0 million . The repurchased shares have been reflected as additional authorized but unissued shares, with the payments reflected in common stock and capital in excess of par value. Dividends: The Board declared a regular quarterly cash dividend of $0.07 per share for the first three quarters of fiscal year 2018 and in each quarter of fiscal year 2017 . At September 30, 2018 , the Company has accrued $7.8 million for dividends declared on July 23, 2018 for the third quarter of fiscal year 2018 that will be payable on November 9, 2018 . On October 24, 2018 , the Company announced that the Board had declared a quarterly dividend of $0.07 per share for the fourth quarter of fiscal year 2018 that will be payable on February 8, 2019 . In the future, the Board may determine to reduce or eliminate the Company’s common stock dividend in order to fund investments for growth, repurchase shares or conserve capital resources. |
Stock Plans
Stock Plans | 9 Months Ended |
Sep. 30, 2018 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Stock Plans | Stock Plans In addition to the Company's Employee Stock Purchase Plan, the Company utilizes one stock-based compensation plan, the 2009 Incentive Plan (the “2009 Plan”). Under the 2009 Plan, 10.0 million shares of the Company's common stock are authorized for stock option grants, restricted stock awards, performance restricted stock units, performance units and stock awards as part of the Company’s compensation programs. In addition to shares of the Company’s common stock originally authorized for issuance under the 2009 Plan, the 2009 Plan includes shares of the Company’s common stock previously granted under the Amended and Restated 2001 Incentive Plan and the 2005 Incentive Plan that were canceled or forfeited without the shares being issued. The following table summarizes total pre-tax compensation expense recognized related to the Company’s stock option grants, restricted stock awards, performance restricted stock units, performance units and stock awards, included in the Company’s condensed consolidated statements of operations for the three and nine months ended September 30, 2018 and October 1, 2017 : Three Months Ended Nine Months Ended September 30, October 1, September 30, October 1, (In thousands) Cost of revenue $ 430 $ 357 $ 1,093 $ 898 Research and development expenses 335 373 1,029 1,077 Selling, general and administrative expenses 10,362 3,682 21,153 14,204 Total stock-based compensation expense $ 11,127 $ 4,412 $ 23,275 $ 16,179 The total income tax benefit recognized in the condensed consolidated statements of operations for stock-based compensation was $6.1 million and $10.6 million for the three and nine months ended September 30, 2018 , respectively. The total income tax benefit recognized in the condensed consolidated statements of operations for stock-based compensation was $1.9 million and $9.9 million for the three and nine months ended October 1, 2017 , respectively. Stock-based compensation costs capitalized as part of inventory were $0.4 million as of each of September 30, 2018 and October 1, 2017 . Stock Options : The fair value of each option grant is estimated using the Black-Scholes option pricing model. The Company’s weighted-average assumptions used in the Black-Scholes option pricing model were as follows: Three and Nine Months Ended September 30, October 1, Risk-free interest rate 2.9 % 1.5 % Expected dividend yield 0.4 % 0.4 % Expected term 5 years 5 years Expected stock volatility 20.7 % 22.4 % The following table summarizes stock option activity for the nine months ended September 30, 2018 : Number of Shares Weighted- Average Exercise Price Weighted-Average Remaining Contractual Term Total Intrinsic Value (In thousands) (In years) (In millions) Outstanding at December 31, 2017 2,154 $ 42.77 Granted 363 77.81 Exercised (554 ) 35.19 Forfeited (43 ) 51.62 Outstanding at September 30, 2018 1,920 $ 51.38 4.3 $ 88.1 Exercisable at September 30, 2018 1,113 $ 43.10 3.2 $ 60.3 The weighted-average per-share grant-date fair value of options granted during the three and nine months ended September 30, 2018 was $18.65 and $17.56 , respectively. The weighted-average per-share grant-date fair value of options granted during the three and nine months ended October 1, 2017 was $14.32 and $11.79 , respectively. The total intrinsic value of options exercised during the three and nine months ended September 30, 2018 was $18.9 million and $25.3 million , respectively. The total intrinsic value of options exercised during the three and nine months ended October 1, 2017 was $0.7 million and $12.8 million , respectively. Cash received from option exercises for the nine months ended September 30, 2018 and October 1, 2017 was $19.5 million and $14.0 million , respectively. The total compensation expense recognized related to the Company’s outstanding options was $1.4 million and $4.0 million for the three and nine months ended September 30, 2018 , respectively, and $1.1 million and $3.5 million for the three and nine months ended October 1, 2017 , respectively. There was $8.0 million of total unrecognized compensation cost related to nonvested stock options granted as of September 30, 2018 . This cost is expected to be recognized over a weighted-average period of 2.0 years. Restricted Stock Awards : The following table summarizes restricted stock award activity for the nine months ended September 30, 2018 : Number of Shares Weighted- Average Grant- Date Fair Value (In thousands) Nonvested at December 31, 2017 496 $ 50.30 Granted 206 75.78 Vested (200 ) 50.18 Forfeited (32 ) 53.67 Nonvested at September 30, 2018 470 $ 61.38 The fair value of restricted stock awards vested during the three and nine months ended September 30, 2018 was $1.1 million and $10.0 million , respectively. The fair value of restricted stock awards vested during the three and nine months ended October 1, 2017 was $0.5 million and $9.8 million , respectively. The total compensation expense recognized related to the Company’s outstanding restricted stock awards was $3.0 million and $8.7 million for the three and nine months ended September 30, 2018 , respectively, and $2.3 million and $7.8 million for the three and nine months ended October 1, 2017 , respectively. As of September 30, 2018 , there was $18.9 million of total unrecognized compensation cost related to nonvested restricted stock awards. This cost is expected to be recognized over a weighted-average period of 1.5 years. Performance Restricted Stock Units: As part of the Company's executive compensation program, the Company granted 39,133 performance restricted stock units during the nine months ended September 30, 2018 that will vest based on performance of the Company. The weighted-average per-share grant date fair value of performance restricted stock units granted during the nine months ended September 30, 2018 was $80.31 . During the nine months ended September 30, 2018 , 5,797 performance restricted stock units were forfeited. As of September 30, 2018 , there were 87,673 performance restricted stock units outstanding. The total compensation expense recognized related to the performance restricted stock units was $1.3 million and $2.2 million for the three and nine months ended September 30, 2018 , respectively, and $0.2 million and $0.6 million for the three and nine months ended October 1, 2017 , respectively. Performance Units : As part of the Company's executive compensation program, the Company granted 37,281 performance units during the nine months ended September 30, 2018 . The weighted-average per-share grant-date fair value of performance units granted during the nine months ended September 30, 2018 was $73.23 . During the nine months ended September 30, 2018 , no performance units were forfeited. As of September 30, 2018 , there were 201,762 performance units outstanding and subject to forfeiture, with a corresponding liability of $13.9 million recorded in accrued expenses and other current liabilities. The total compensation expense recognized related to performance units was $5.3 million and $7.6 million for the three and nine months ended September 30, 2018 , respectively, and $0.8 million and $3.6 million for the three and nine months ended October 1, 2017 , respectively. Stock Awards : The Company’s stock award program provides an annual equity award to non-employee directors. The Company granted 1,386 shares to each non-employee member of the Board during the nine months ended September 30, 2018 . The weighted-average per-share grant-date fair value of the stock awards granted during the nine months ended September 30, 2018 was $72.17 . The total compensation expense recognized related to the stock awards was $0.8 million and $0.7 million for the nine months ended September 30, 2018 and October 1, 2017 , respectively. Employee Stock Purchase Plan : During the nine months ended September 30, 2018 , the Company issued 21,321 shares of common stock under the Company's Employee Stock Purchase Plan at a weighted-average price of $69.57 per share. During the nine months ended October 1, 2017 , the Company issued 18,483 shares of common stock under the Company's Employee Stock Purchase Plan at a weighted-average price of $64.73 per share. At September 30, 2018 , an aggregate of 0.8 million shares of the Company’s common stock remained available for sale to employees out of the 5.0 million shares authorized by shareholders for issuance under this plan. |
Goodwill and Intangible Assets,
Goodwill and Intangible Assets, Net | 9 Months Ended |
Sep. 30, 2018 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Goodwill and Intangible Assets, Net | Goodwill and Intangible Assets, Net The Company tests goodwill and non-amortizing intangible assets at least annually for possible impairment. Accordingly, the Company completes the annual testing of impairment for goodwill and non-amortizing intangible assets on the later of January 1 or the first day of each fiscal year. In addition to its annual test, the Company regularly evaluates whether events or circumstances have occurred that may indicate a potential impairment of goodwill or non-amortizing intangible assets. The process of testing goodwill for impairment involves the determination of the fair value of the applicable reporting units. The test consists of the comparison of the fair value to the carrying value of the reporting unit to determine if the carrying value exceeds the fair value. If the carrying value of the reporting unit exceeds its fair value, an impairment loss in an amount equal to that excess is recognized up to the amount of goodwill . The Company performed its annual impairment testing for its reporting units as of January 1, 2018 , its annual impairment testing date for fiscal year 2018 . The Company concluded that there was no goodwill impairment, and the fair value exceeded the carrying value by more than 20.0% for each reporting unit, except for the Company's Informatics reporting unit which had a fair value that was less than 20% but more than 10% of its carrying value. The range of the long-term terminal growth rates for the Company’s reporting units was 3.0% to 5.00% for the fiscal year 2018 impairment analysis. The range for the discount rates for the reporting units was 9.0% to 15.0% . Keeping all other variables constant, a 10.0% change in any one of these input assumptions for the various reporting units, except for the Informatics reporting unit, would still allow the Company to conclude that there was no impairment of goodwill. As of January 1, 2018 , the Company's Informatics reporting unit, which had a goodwill balance of $217.2 million , was at increased risk of an impairment charge given its ongoing weakness due to a highly competitive industry. Despite the increased risk associated with this reporting unit, the Company does not currently expect a significant change in the key estimates or assumptions driving the fair value of this reporting unit that would lead to a material impairment charge. The Company has consistently employed the income approach to estimate the current fair value when testing for impairment of goodwill. A number of significant assumptions and estimates are involved in the application of the income approach to forecast operating cash flows, including markets and market share, sales volumes and prices, costs to produce, tax rates, capital spending, discount rates and working capital changes. Cash flow forecasts are based on approved business unit operating plans for the early years’ cash flows and historical relationships in later years. The income approach is sensitive to changes in long-term terminal growth rates and the discount rates. The long-term terminal growth rates are consistent with the Company’s historical long-term terminal growth rates, as the current economic trends are not expected to affect the long-term terminal growth rates of the Company. The Company corroborates the income approach with a market approach. The Company has consistently employed the relief from royalty model to estimate the current fair value when testing for impairment of non-amortizing intangible assets. The impairment test consists of a comparison of the fair value of the non-amortizing intangible asset with its carrying amount. If the carrying amount of a non-amortizing intangible asset exceeds its fair value, an impairment loss in an amount equal to that excess is recognized . In addition, the Company evaluates the remaining useful lives of its non-amortizing intangible assets at least annually to determine whether events or circumstances continue to support an indefinite useful life. If events or circumstances indicate that the useful lives of non-amortizing intangible assets are no longer indefinite, the assets will be tested for impairment. These intangible assets will then be amortized prospectively over their estimated remaining useful lives and accounted for in the same manner as other intangible assets that are subject to amortization. The Company performed its annual impairment testing as of January 1, 2018 , and concluded that there was no impairment of non-amortizing intangible assets. An assessment of the recoverability of amortizing intangible assets takes place when events have occurred that may give rise to an impairment. No such events occurred during the first nine months of fiscal year 2018 . The changes in the carrying amount of goodwill for the nine months ended September 30, 2018 were as follows: Discovery & Analytical Solutions Diagnostics Consolidated (In thousands) Balance at December 31, 2017 $ 1,344,235 $ 1,657,963 $ 3,002,198 Foreign currency translation (26,167 ) (31,613 ) (57,780 ) Acquisitions and other (7,980 ) (15,749 ) (23,729 ) Balance at September 30, 2018 $ 1,310,088 $ 1,610,601 $ 2,920,689 Identifiable intangible asset balances at September 30, 2018 and December 31, 2017 by category were as follows: September 30, December 31, (In thousands) Patents $ 42,951 $ 39,959 Less: Accumulated amortization (37,046 ) (35,085 ) Net patents 5,905 4,874 Trade names and trademarks 78,628 80,974 Less: Accumulated amortization (32,251 ) (28,250 ) Net trade names and trademarks 46,377 52,724 Licenses 52,261 53,300 Less: Accumulated amortization (44,889 ) (42,635 ) Net licenses 7,372 10,665 Core technology 476,403 471,740 Less: Accumulated amortization (272,475 ) (244,916 ) Net core technology 203,928 226,824 Customer relationships 1,108,220 1,141,511 Less: Accumulated amortization (290,616 ) (242,840 ) Net customer relationships 817,604 898,671 IPR&D 81,813 88,025 Less: Accumulated amortization (9,808 ) (5,427 ) Net IPR&D 72,005 82,598 Net amortizable intangible assets 1,153,191 1,276,356 Non-amortizing intangible asset: Trade name 70,584 70,584 Total $ 1,223,775 $ 1,346,940 Total amortization expense related to definite-lived intangible assets was $35.3 million and $100.7 million for the three and nine months ended September 30, 2018 , respectively, and $17.7 million and $52.3 million for the three and nine months ended October 1, 2017 , respectively. Estimated amortization expense related to definite-lived intangible assets for each of the next five years is $37.6 million for the remainder of fiscal year 2018 , $148.3 million for fiscal year 2019 , $150.4 million for fiscal year 2020 , $135.2 million for fiscal year 2021 , and $123.8 million for fiscal year 2022 . |
Warranty Reserves
Warranty Reserves | 9 Months Ended |
Sep. 30, 2018 | |
Product Warranties Disclosures [Abstract] | |
Warranty Reserves | Warranty Reserves The Company provides warranty protection for certain products usually for a period of one year beyond the date of sale. The majority of costs associated with warranty obligations include the replacement of parts and the time for service personnel to respond to repair and replacement requests. A warranty reserve is recorded based upon historical results, supplemented by management’s expectations of future costs. Warranty reserves are included in “Accrued expenses and other current liabilities” on the condensed consolidated balance sheets. A summary of warranty reserve activity for the three and nine months ended September 30, 2018 and October 1, 2017 is as follows: Three Months Ended Nine Months Ended September 30, October 1, September 30, October 1, (In thousands) Balance at beginning of period $ 8,943 $ 9,088 $ 9,050 $ 9,012 Provision charged to income 3,327 3,326 10,012 9,706 Payments (3,547 ) (3,488 ) (10,514 ) (10,625 ) Adjustments to previously provided warranties, net (226 ) (730 ) 110 (215 ) Foreign currency translation and acquisitions (49 ) 117 (210 ) 435 Balance at end of period $ 8,448 $ 8,313 $ 8,448 $ 8,313 |
Employee Benefit Plans
Employee Benefit Plans | 9 Months Ended |
Sep. 30, 2018 | |
Retirement Benefits [Abstract] | |
Employee Benefit Plans | Employee Postretirement Benefit Plans The following table summarizes the components of net periodic pension credit for the Company’s various defined benefit employee pension and postretirement plans for the three and nine months ended September 30, 2018 and October 1, 2017 : Defined Benefit Pension Benefits Postretirement Medical Benefits Three Months Ended September 30, October 1, September 30, October 1, (In thousands) Service and administrative costs $ 1,712 $ 1,231 $ 27 $ 23 Interest cost 4,051 4,160 30 32 Expected return on plan assets (7,270 ) (6,568 ) (314 ) (279 ) Amortization of prior service costs (41 ) (49 ) — — Net periodic pension credit $ (1,548 ) $ (1,226 ) $ (257 ) $ (224 ) Defined Benefit Pension Benefits Postretirement Medical Benefits Nine Months Ended September 30, October 1, September 30, October 1, (In thousands) Service and administrative costs $ 5,180 $ 3,667 $ 80 $ 69 Interest cost 12,212 12,420 90 94 Expected return on plan assets (21,926 ) (19,609 ) (941 ) (836 ) Amortization of prior service costs (123 ) (144 ) — — Net periodic benefit credit $ (4,657 ) $ (3,666 ) $ (771 ) $ (673 ) During the nine months ended September 30, 2018 and October 1, 2017 , the Company contributed $6.4 million and $6.2 million , respectively, in the aggregate, to pension plans outside of the United States. During the nine months ended September 30, 2018 , the Company contributed $15.0 million to its defined benefit pension plan in the United States for the plan year 2017. The Company recognizes actuarial gains and losses, unless an interim remeasurement is required, in the fourth quarter of the year in which the gains and losses occur, in accordance with the Company's accounting method for defined benefit pension plans and other postretirement benefits as described in Note 1 of the Company's audited consolidated financial statements and notes included in its 2017 Form 10-K. Such adjustments for gains and losses are primarily driven by events and circumstances beyond the Company's control, including changes in interest rates, the performance of the financial markets and mortality assumptions. As discussed in Note 1, Basis of Presentation, the Company adopted ASU 2017-17 on January 1, 2018. Actuarial gains and losses are now recognized in the line item "Interest and other expense, net" in the condensed consolidated statement of operations. Actuarial gains and losses were presented within operating income prior to the adoption. As such, prior year amounts, including other components of periodic pension cost, have been reclassified to "Interest and other expense, net" in the condensed consolidated statement of operations due to the retrospective adoption of ASU 2017-17. |
Derivatives And Hedging Activit
Derivatives And Hedging Activities | 9 Months Ended |
Sep. 30, 2018 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Derivatives and Hedging Activities | Derivatives and Hedging Activities The Company uses derivative instruments as part of its risk management strategy only, and includes derivatives utilized as economic hedges that are not designated as hedging instruments. By nature, all financial instruments involve market and credit risks. The Company enters into derivative instruments with major investment grade financial institutions and has policies to monitor the credit risk of those counterparties. The Company does not enter into derivative contracts for trading or other speculative purposes, nor does the Company use leveraged financial instruments. Approximately 70% of the Company’s business is conducted outside of the United States, generally in foreign currencies. As a result, fluctuations in foreign currency exchange rates can increase the costs of financing, investing and operating the business. In the ordinary course of business, the Company enters into foreign exchange contracts for periods consistent with its committed exposures to mitigate the effect of foreign currency movements on transactions denominated in foreign currencies. The intent of these economic hedges is to offset gains and losses that occur on the underlying exposures from these currencies, with gains and losses resulting from the forward currency contracts that hedge these exposures. Transactions covered by hedge contracts include intercompany and third-party receivables and payables. The contracts are primarily in European and Asian currencies, have maturities that do not exceed 12 months, have no cash requirements until maturity, and are recorded at fair value on the Company’s condensed consolidated balance sheets. The unrealized gains and losses on the Company’s foreign currency contracts are recognized immediately in interest and other expense, net. The cash flows related to the settlement of these hedges are included in cash flows from operating activities within the Company’s condensed consolidated statement of cash flows. Principal hedged currencies include the British Pound, Euro, Swedish Krona, Japanese Yen and Singapore Dollar. The Company held forward foreign exchange contracts, designated as economic hedges, with U.S. dollar equivalent notional amounts totaling $180.4 million , $212.1 million and $140.0 million at September 30, 2018 , December 31, 2017 and October 1, 2017 , respectively, and the fair value of these foreign currency derivative contracts was insignificant. The gains and losses realized on these foreign currency derivative contracts are not material. The duration of these contracts was generally 30 days or less during each of the nine months ended September 30, 2018 and October 1, 2017 . In addition, in connection with certain intercompany loan agreements utilized to finance its acquisitions and stock repurchase program, the Company enters into forward foreign exchange contracts intended to hedge movements in foreign exchange rates prior to settlement of such intercompany loans denominated in foreign currencies. The Company records these hedges at fair value on the Company’s condensed consolidated balance sheets. The unrealized gains and losses on these hedges, as well as the gains and losses associated with the remeasurement of the intercompany loans, are recognized immediately in interest and other expense, net. The cash flows related to the settlement of these hedges are included in cash flows from financing activities within the Company’s condensed consolidated statement of cash flows. The outstanding forward exchange contracts designated as economic hedges, which were intended to hedge movements in foreign exchange rates prior to the settlement of certain intercompany loan agreements, included combined Euro notional amounts of €48.7 million and combined U.S. Dollar notional amounts of $28.0 million as of September 30, 2018 , combined Euro notional amounts of €57.2 million and combined U.S. Dollar notional amounts of $1.3 billion as of December 31, 2017 , and combined Euro notional amounts of €19.0 million and combined U.S. Dollar notional amounts of $12.3 million as of October 1, 2017 . The net gains and losses on these derivatives, combined with the gains and losses on the remeasurement of the hedged intercompany loans were not material for each of the three and nine months ended September 30, 2018 and October 1, 2017 . The Company paid $30.3 million and $11.5 million during the nine months ended September 30, 2018 and October 1, 2017 , respectively, from the settlement of these hedges. In April 2018, the Company entered into a series of foreign currency forward contracts with a notional amount of €298.7 million to hedge its investments in certain foreign subsidiaries. Realized and unrealized translation adjustments from these hedges were included in the foreign currency translation component of accumulated other comprehensive income ("AOCI"), which offsets translation adjustments on the underlying net assets of foreign subsidiaries. The cumulative translation gains or losses will remain in AOCI until the foreign subsidiaries are liquidated or sold. The foreign currency forward contracts were settled during the second quarter of 2018 and the Company recorded a net realized foreign exchange loss in AOCI of $2.6 million for the nine months ended September 30, 2018 . During fiscal year 2016, the Company designated the 2026 Notes to hedge its investments in certain foreign subsidiaries. In January 2018, the Company removed the hedging relationship of its 2026 Notes and investments in certain foreign subsidiaries and recognized $2.1 million of unrealized foreign exchange gain in AOCI. In April 2018, the Company designated a portion of the 2026 Notes to hedge its investments in certain foreign subsidiaries. Unrealized translation adjustments from a portion of the 2026 Notes were included in the foreign currency translation component of AOCI, which offsets translation adjustments on the underlying net assets of foreign subsidiaries. The cumulative translation gains or losses will remain in AOCI until the foreign subsidiaries are liquidated or sold. As of September 30, 2018 , the total notional amount of the 2026 Notes that was designated to hedge investments in foreign subsidiaries was €135.1 million . The unrealized foreign exchange gain recorded in AOCI related to the net investment hedge was $0.8 million and $7.7 million for the three and nine months ended September 30, 2018 , respectively. In April 2018, the Company designated the April 2021 Notes with a notional amount of €298.7 million to hedge its investments in certain foreign subsidiaries. Unrealized translation adjustments from the April 2021 Notes were included in the foreign currency translation component of AOCI, which offsets translation adjustments on the underlying net assets of foreign subsidiaries. The cumulative translation gains or losses will remain in AOCI until the foreign subsidiaries are liquidated or sold. As of September 30, 2018 , the total notional amount of the April 2021 Notes that was designated to hedge investments in foreign subsidiaries was €298.7 million . The unrealized foreign exchange gain recorded in AOCI related to the net investment hedge was $1.8 million and $22.6 million for the three and nine months ended September 30, 2018 , respectively. The Company does no t expect any material net pre-tax gains or losses to be reclassified from accumulated other comprehensive loss into interest and other expense, net within the next twelve months. |
Fair Value Measurements
Fair Value Measurements | 9 Months Ended |
Sep. 30, 2018 | |
Fair Value Disclosures [Abstract] | |
Fair Value Measurements | Fair Value Measurements Financial instruments that potentially subject the Company to concentrations of credit risk consist principally of cash equivalents, derivatives, marketable securities and accounts receivable. The Company believes it had no significant concentrations of credit risk as of September 30, 2018 . The Company uses the market approach technique to value its financial instruments and there were no changes in valuation techniques during the nine months ended September 30, 2018 . The Company’s financial assets and liabilities carried at fair value are primarily comprised of marketable securities, derivative contracts used to hedge the Company’s currency risk, and acquisition-related contingent consideration. The Company has not elected to measure any additional financial instruments or other items at fair value. Valuation Hierarchy: The following summarizes the three levels of inputs required to measure fair value. For Level 1 inputs, the Company utilizes quoted market prices as these instruments have active markets. For Level 2 inputs, the Company utilizes quoted market prices in markets that are not active, broker or dealer quotations, or utilizes alternative pricing sources with reasonable levels of price transparency. For Level 3 inputs, the Company utilizes unobservable inputs based on the best information available, including estimates by management primarily based on information provided by third-party fund managers, independent brokerage firms and insurance companies. A financial asset’s or liability’s classification within the hierarchy is determined based on the lowest level input that is significant to the fair value measurement. In determining fair value, the Company utilizes valuation techniques that maximize the use of observable inputs and minimize the use of unobservable inputs to the extent possible. The following tables show the assets and liabilities carried at fair value measured on a recurring basis as of September 30, 2018 and December 31, 2017 classified in one of the three classifications described above: Fair Value Measurements at September 30, 2018 Using: Total Carrying Value at September 30, 2018 Quoted Prices in Active Markets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable (Level 3) (In thousands) Marketable securities $ 2,405 $ 2,405 $ — $ — Foreign exchange derivative assets 1,273 — 1,273 — Foreign exchange derivative liabilities (4,694 ) — (4,694 ) — Contingent consideration (67,126 ) — — (67,126 ) Fair Value Measurements at December 31, 2017 Using: Total Carrying Value at December 31, 2017 Quoted Prices in Active Markets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) (In thousands) Marketable securities $ 2,208 $ 2,208 $ — $ — Foreign exchange derivative assets 1,431 — 1,431 — Foreign exchange derivative liabilities (23,638 ) — (23,638 ) — Contingent consideration (65,328 ) — — (65,328 ) Level 1 and Level 2 Valuation Techniques: The Company’s Level 1 and Level 2 assets and liabilities are comprised of investments in equity and fixed-income securities as well as derivative contracts. For financial assets and liabilities that utilize Level 1 and Level 2 inputs, the Company utilizes both direct and indirect observable price quotes, including common stock price quotes, foreign exchange forward prices and bank price quotes. Below is a summary of valuation techniques for Level 1 and Level 2 financial assets and liabilities. Marketable securities: Include equity and fixed-income securities measured at fair value using the quoted market prices in active markets at the reporting date. Foreign exchange derivative assets and liabilities: Include foreign exchange derivative contracts that are valued using quoted forward foreign exchange prices at the reporting date. The Company’s foreign exchange derivative contracts are subject to master netting arrangements that allow the Company and its counterparties to net settle amounts owed to each other. Derivative assets and liabilities that can be net settled under these arrangements have been presented in the Company's condensed consolidated balance sheet on a net basis and are recorded in other assets. As of both September 30, 2018 and December 31, 2017 , none of the master netting arrangements involved collateral. Level 3 Valuation Techniques: The Company’s Level 3 liabilities are comprised of contingent consideration related to acquisitions. For liabilities that utilize Level 3 inputs, the Company uses significant unobservable inputs. Below is a summary of valuation techniques for Level 3 liabilities. Contingent consideration: Contingent consideration is measured at fair value at the acquisition date using projected milestone dates, discount rates, probabilities of success and projected revenues (for revenue-based considerations). Projected risk-adjusted contingent payments are discounted back to the current period using a discounted cash flow model. During fiscal year 2015, the Company acquired certain assets and assumed certain liabilities from Vanadis Diagnostics AB ("Vanadis"). Under the terms of the acquisition, the initial purchase consideration was $32.0 million , net of cash and the Company will be obligated to make potential future milestone payments, based on completion of a proof of concept, regulatory approvals and product sales, of up to $93.0 million ranging from 2016 to 2019. The fair value of the contingent consideration as of the acquisition date was estimated at $56.9 million . During the third quarter of fiscal year 2018 , the Company updated the fair value of the contingent consideration and recorded a liability of $59.6 million as of September 30, 2018 . The key assumptions used to determine the fair value of the contingent consideration as of September 30, 2018 included projected milestone dates of 2018 to 2019 , discount rates ranging from 3.4% to 6.5% , conditional probabilities of success of each individual milestone ranging from 95% to 98% and cumulative probabilities of success for each individual milestone ranging from 84.0% to 98% . A significant delay in the product development (including projected regulatory milestone) achievement date in isolation could result in a significantly lower fair value measurement; a significant acceleration in the product development (including projected regulatory milestone) achievement date in isolation would not have a material impact on the fair value measurement; a significant change in the discount rate in isolation would not have a material impact on the fair value measurement; and a significant change in the probabilities of success in isolation could result in a significant change in fair value measurement. During the third quarter of fiscal year 2018 , the Company recorded a contingent consideration obligation relating to its acquisition of DNA Labs with an estimated fair value of $5.8 million and the Company paid $16.5 million of contingent consideration to the former shareholders of Vanadis, of which $12.8 million was included in financing activities and $3.7 million was included in operating activities in the condensed consolidated statement of cash flows. The fair values of contingent consideration are calculated on a quarterly basis based on a collaborative effort of the Company’s regulatory, research and development, operations, finance and accounting groups, as appropriate. Potential valuation adjustments are made as additional information becomes available, including the progress towards achieving proof of concept, regulatory approvals and revenue targets as compared to initial projections, the impact of market competition and market landscape shifts from non-invasive prenatal testing products, with the impact of such adjustments being recorded in the Company's consolidated statements of operations. As of September 30, 2018 , the Company may have to pay contingent consideration related to acquisitions with open contingency periods of up to $76.5 million . The expected maximum earnout period for the acquisitions with open contingency periods does not exceed 2.0 years from September 30, 2018 , and the remaining weighted average expected earnout period at September 30, 2018 was 0.6 years . A reconciliation of the beginning and ending Level 3 net liabilities for contingent consideration is as follows: Three Months Ended Nine Months Ended September 30, October 1, September 30, October 1, (In thousands) Balance at beginning of period $ (74,093 ) $ (64,076 ) $ (65,328 ) $ (63,201 ) Additions (5,800 ) — (7,500 ) — Amounts paid and foreign currency translation 16,507 — 16,507 34 Change in fair value (included within selling, general and administrative expenses) (3,740 ) (651 ) (10,805 ) (1,560 ) Balance at end of period $ (67,126 ) $ (64,727 ) $ (67,126 ) $ (64,727 ) The carrying amounts of cash and cash equivalents, accounts receivable, accounts payable and accrued expenses approximate fair value due to the short-term maturities of these assets and liabilities. If measured at fair value, cash and cash equivalents would be classified as Level 1. As of September 30, 2018 , the Company’s senior unsecured revolving credit facility, which provides for $1.0 billion of revolving loans, had a carrying value of $408.4 million , net of $2.6 million of unamortized debt issuance costs. As of December 31, 2017 , the Company’s senior unsecured revolving credit facility had a carrying value of $621.7 million , net of $3.3 million of unamortized debt issuance costs. The interest rate on the Company’s senior unsecured revolving credit facility is reset at least monthly to correspond to variable rates that reflect currently available terms and conditions for similar debt. The Company had no change in credit standing during the first nine months of fiscal year 2018 . Consequently, the carrying value approximates fair value and were classified as Level 2. The Company's November 2021 Notes, with a face value of $500.0 million , had an aggregate carrying value of $497.2 million , net of $1.2 million of unamortized original issue discount and $1.7 million of unamortized debt issuance costs as of September 30, 2018 . The November 2021 Notes had an aggregate carrying value of $496.6 million , net of $1.4 million of unamortized original issue discount and $2.0 million of unamortized debt issuance costs as of December 31, 2017 . The November 2021 Notes had a fair value of $515.6 million and $536.6 million as of September 30, 2018 and December 31, 2017 , respectively. The fair value of the November 2021 Notes is estimated using market quotes from brokers and is based on current rates offered for similar debt. The Company's 2026 Notes, with a face value of €500.0 million , had an aggregate carrying value of $572.3 million , net of $4.2 million of unamortized original issue discount and $3.9 million of unamortized debt issuance costs as of September 30, 2018 . The 2026 Notes had an aggregate carrying value of $591.7 million , net of $4.7 million of unamortized original issue discount and $4.3 million of unamortized debt issuance costs as of December 31, 2017 . The 2026 Notes had a fair value of €502.9 million and €508.9 million as of September 30, 2018 and December 31, 2017 , respectively. The fair value of the 2026 Notes is estimated using market quotes from brokers and is based on current rates offered for similar debt. The Company's April 2021 Notes, with a face value of €300.0 million , had an aggregate carrying value of $345.8 million , net of $0.2 million of unamortized original issue discount and $2.3 million of unamortized debt issuance costs as of September 30, 2018 . The April 2021 Notes had a fair value of €301.2 million as of September 30, 2018 . The fair value of the April 2021 Notes is estimated using market quotes from brokers and is based on current rates offered for similar debt. The Company's financing lease obligations had an aggregate carrying value of $34.9 million and $35.9 million as of September 30, 2018 and December 31, 2017 , respectively. The carrying values of the Company's financing lease obligations approximated their fair value as there has been minimal change in the Company's incremental borrowing rate. As of September 30, 2018 , the November 2021 Notes, 2026 Notes, April 2021 Notes and financing lease obligations were classified as Level 2. The Company’s other debt facilities that were assumed from the EUROIMMUN acquisition had an aggregate carrying value of $43.5 million and $60.2 million as of September 30, 2018 and December 31, 2017 , respectively. As of September 30, 2018 , these consisted of bank loans in the aggregate amount of $43.3 million bearing fixed interest rates between 0.05% and 5.5% and a bank loan in the amount of $0.2 million bearing a variable interest rate based on the Euribor rate plus a margin of 1.5% . The Company had no change in credit standing during the first nine months of fiscal year 2018 . Consequently, the carrying value approximates fair value and were classified as Level 2. As of September 30, 2018 , there has not been any significant impact to the fair value of the Company’s derivative liabilities due to credit risk. Similarly, there has not been any significant adverse impact to the Company’s derivative assets based on the evaluation of its counterparties’ credit risks. |
Contingencies
Contingencies | 9 Months Ended |
Sep. 30, 2018 | |
Commitments and Contingencies Disclosure [Abstract] | |
Contingencies | Contingencies The Company is conducting a number of environmental investigations and remedial actions at current and former locations of the Company and, along with other companies, has been named a potentially responsible party (“PRP”) for certain waste disposal sites. The Company accrues for environmental issues in the accounting period that the Company’s responsibility is established and when the cost can be reasonably estimated. The Company has accrued $8.5 million and $9.4 million as of September 30, 2018 and December 31, 2017 , respectively, which represents its management’s estimate of the cost of the remediation of known environmental matters, and does not include any potential liability for related personal injury or property damage claims. These amounts were included in accrued expenses and other current liabilities. The Company's environmental accrual is not discounted and does not reflect the recovery of any material amounts through insurance or indemnification arrangements. The cost estimates are subject to a number of variables, including the stage of the environmental investigations, the magnitude of the possible contamination, the nature of the potential remedies, possible joint and several liability, the time period over which remediation may occur, and the possible effects of changing laws and regulations. For sites where the Company has been named a PRP, management does not currently anticipate any additional liability to result from the inability of other significant named parties to contribute. The Company expects that the majority of such accrued amounts could be paid out over a period of up to ten years. As assessment and remediation activities progress at each individual site, these liabilities are reviewed and adjusted to reflect additional information as it becomes available. There have been no environmental problems to date that have had, or are expected to have, a material adverse effect on the Company’s condensed consolidated financial statements. While it is possible that a loss exceeding the amounts recorded in the condensed consolidated financial statements may be incurred, the potential exposure is not expected to be materially different from those amounts recorded. The Company is subject to various claims, legal proceedings and investigations covering a wide range of matters that arise in the ordinary course of its business activities. Although the Company has established accruals for potential losses that it believes are probable and reasonably estimable, in the opinion of the Company’s management, based on its review of the information available at this time, the total cost of resolving these contingencies at September 30, 2018 would not have a material adverse effect on the Company’s condensed consolidated financial statements. However, each of these matters is subject to uncertainties, and it is possible that some of these matters may be resolved unfavorably to the Company. |
Basis of Presentation (Policies
Basis of Presentation (Policies) | 9 Months Ended |
Sep. 30, 2018 | |
Accounting Policies [Abstract] | |
New Accounting Pronouncements, Policy [Policy Text Block] | Recently Adopted and Issued Accounting Pronouncements: From time to time, new accounting pronouncements are issued by the Financial Accounting Standards Board (the "FASB") and are adopted by the Company as of the specified effective dates. Unless otherwise discussed, such pronouncements did not have or will not have a significant impact on the Company’s consolidated financial position, results of operations and cash flows or do not apply to the Company’s operations. In August 2018, the FASB issued Accounting Standards Update No. 2018-15, Intangibles-Goodwill and Other- Internal-Use Software (Subtopic 350-40): Customer's Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That is a Service Contract ("ASU 2018-15"). ASU 2018-15 aligns the accounting for implementation costs incurred in a hosting arrangement that is a service contract with the guidance on capitalizing costs associated with developing or obtaining internal-use software (and hosting arrangements that include an internal use software license). Specifically, ASU 2018-15 amends Intangibles-Goodwill and Other (Topic 350) to include in its scope implementation costs incurred in a hosting arrangement that is a service contract and clarifies that a customer should apply Subtopic 350-40 to determine which implementation costs to capitalize as an asset related to the service contract and which costs to expense. The provisions of this guidance are to be applied either retrospectively or prospectively to all implementation costs incurred after the date of adoption. ASU 2018-15 is effective for annual reporting periods beginning after December 15, 2019, and interim periods within those years with early adoption permitted. The Company is currently evaluating the requirements of this guidance and has not yet determined the impact of its adoption on the Company's consolidated financial position, results of operations and cash flows. In August 2018, the FASB issued Accounting Standards Update No. 2018-14, Compensation - Retirement Benefits - Defined Benefit Plans - General (Subtopic 715-20): Disclosure Framework - Changes to the Disclosure Requirements for Defined Benefit Plans ("ASU 2018-14"). ASU 2018-14 adds, removes, and clarifies disclosure requirements related to defined benefit pension and other postretirement plans. ASU 2018-14 adds requirements for an entity to disclose the weighted-average interest crediting rates used in the entity’s cash balance pension plans and other similar plans; and an explanation of the reasons for significant gains and losses related to changes in the benefit obligation for the period . Further, ASU 2018-14 removes guidance that currently requires the following disclosures: the amounts in accumulated other comprehensive income expected to be recognized as part of net periodic benefit cost over the next year; the amount and timing of plan assets expected to be returned to the employer; information about (1) benefits covered by related-party insurance and annuity contracts and (2) significant transactions between the plan and related parties; and the effects of a one-percentage-point change on the assumed health care costs and the effect of this change in rates on service cost, interest cost, and the benefit obligation for postretirement health care benefits. ASU 2018-14 also clarifies the guidance in Compensation-Retirement Benefits (Topic 715-20-50-3) on defined benefit plans to require disclosure of (1) the projected benefit obligation ("PBO") and fair value of plan assets for pension plans with PBOs in excess of plan assets (the same disclosure with reference to the accumulated postretirement benefit obligation rather than the PBO is required for other postretirement benefit plans) and (2) the accumulated benefit obligation ("ABO") and fair value of plan assets for pension plans with ABOs in excess of plan assets. The provisions of this guidance are to be applied retrospectively to all periods presented upon their effective date. ASU 2018-14 is effective for annual reporting periods beginning after December 15, 2020, and interim periods within those years with early adoption permitted. The Company is currently evaluating the requirements of this guidance and has not yet determined the impact of its adoption on the Company's consolidated financial position, results of operations and cash flows. In August 2018, the FASB issued Accounting Standards Update No. 2018-13, Fair Value Measurement (Topic 820): Disclosure Framework - Changes to the Disclosure Requirements for Fair Value Measurement ("ASU 2018-13"). ASU 2018-13 adds, removes, and modifies certain disclosures related to fair value measurements. ASU 2018-13 adds requirements for an entity to disclose the changes in unrealized gains and losses for the period included in other comprehensive income for recurring Level 3 fair value measurements held at the end of the reporting period; and the range and weighted average of significant unobservable inputs used to develop Level 3 fair value measurements. Further, ASU 2018-13 removes the requirement to disclose the amount of and reasons for transfers between Level 1 and Level 2 of the fair value hierarchy; the policy for timing of transfers between levels; and the valuation processes for Level 3 fair value measurements. ASU 2018-13 also modifies existing disclosure requirements related to measurement uncertainty. The amendments regarding changes in unrealized gains and losses, the range and weighted average of significant unobservable inputs used to develop Level 3 fair value measurements, and the narrative description of measurement uncertainty are to be applied prospectively for only the most recent interim or annual period presented in the initial fiscal year of adoption. All other amendments are to be applied retrospectively to all periods presented upon their effective date. ASU 2018-13 is effective for annual reporting periods beginning after December 15, 2019, and interim periods within those years. Early adoption is permitted for any removed or modified disclosures. The Company is currently evaluating the requirements of this guidance and has not yet determined the impact of its adoption on the Company's consolidated financial position, results of operations and cash flows. In June 2018, the FASB issued Accounting Standards Update No. 2018-07, Compensation - Stock Compensation (Topic 718), Improvements to Nonemployee Share-Based Payment Accounting ("ASU 2018-07") which supersedes Subtopic 505-50, Equity - Equity-Based Payments to Non-employees , and expands the scope of Topic 718 (which currently only includes share-based payments to employees) to also include share-based payments issued to non-employees for goods and services, except for specific guidance on inputs to an option pricing model and the attribution of cost (that is, the period of time over which share-based payment awards vest and the pattern of cost recognition over that period). ASU 2018-07 specifies that Topic 718 applies to all share-based payment transactions in which a grantor acquires goods or services to be used or consumed in a grantor’s own operations by issuing share-based payment awards, except for financing transactions, or awards issued to customers as part of a contract accounted for under Topic 606, Revenue from Contracts with Customers ("Topic 606"). The provisions of this guidance are to be applied using a modified retrospective approach, with a cumulative-effect adjustment to retained earnings as of the beginning of the fiscal year, for all (1) liability-classified non-employee awards that have not been settled as of the adoption date and (2) equity-classified non-employee awards for which a measurement date has not been established. ASU 2018-07 is effective for annual reporting periods beginning after December 15, 2018, and interim periods within those years. Early adoption is permitted, but no earlier than a company’s adoption date of Topic 606. The Company early adopted the provisions of this guidance effective July 2, 2018. The adoption did not have a material impact on the Company's consolidated financial position, results of operations and cash flow. In March 2018, the FASB Issued Accounting Standards Update No. 2018-05, Income Taxes (Topic 740): Amendments to SEC Paragraphs Pursuant to SEC Staff Accounting Bulletin No. 118 ("ASU 2018-05"). ASU 2018-05 was issued to incorporate into Topic 740 recent SEC guidance related to the income tax accounting implications of the Tax Cut and Jobs Act (the "Tax Act"). The SEC issued Staff Accounting Bulletin No. 118 ("SAB 118") to address concerns about reporting entities’ ability to timely comply with the accounting requirements to recognize all of the effects of the Tax Act in the period of enactment. SAB 118 permits companies to disclose that some or all of the income tax effects from the Tax Act are incomplete by the due date of the financial statements, and if possible, disclose a reasonable estimate of such tax effects. ASU 2018-05 is effective immediately. The Company is applying the guidance in ASU 2018-05 when accounting for the enactment date effects of the Tax Act. At September 30, 2018 , the Company has not completed the accounting for all of the tax effects of the Tax Act; however, it has made a reasonable estimate of their effects based on currently available information. Management will continue to refine the calculations as additional guidance is available. These estimates may be affected as additional clarification and implementation guidance becomes available. These changes could be material to income tax expense (see Note 9, Income Taxes for further disclosures). In February 2018, the FASB Issued Accounting Standards Update No. 2018-03, Technical Corrections and Improvements to Financial Instruments - Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities ("ASU 2018-03") . ASU 2018-03 was issued to clarify certain aspects of guidance concerning the recognition of financial assets and liabilities established in Accounting Standards Update No. 2016-01, Financial Instruments - Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities ("ASU 2016-01"). This includes treatment for discontinuations and adjustments for equity securities without a readily determinable market value, forward contracts and purchased options, presentation requirements for certain fair value option liabilities, fair value option liabilities denominated in a foreign currency, and transition guidance for equity securities without a readily determinable fair value. ASU 2018-03 is effective for fiscal years beginning after December 15, 2017, and interim periods within those fiscal years beginning after June 15, 2018. Early adoption is permitted for fiscal years beginning after December 15, 2017, including interim periods within those fiscal years, as long as the Company has adopted ASU 2016-01. The Company adopted the provisions of this guidance effective July 2, 2018. The adoption did not have a material impact on the Company's consolidated financial position, results of operations and cash flows. In February 2018, the FASB Issued Accounting Standards Update No. 2018-02, Income Statement-Reporting Comprehensive Income (Topic 220): Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income ("ASU 2018-02") . ASU 2018-02 provides entities with an option to reclassify stranded tax effects within Accumulated Other Comprehensive Income ("AOCI") to retained earnings in each period in which the effect of the change in the U.S. federal corporate income tax rate in the Tax Act (or portion thereof) is recorded. ASU 2018-02 requires entities to disclose a description of the accounting policy for releasing income tax effects from AOCI; whether they elect to reclassify the stranded income tax effects from the Tax Act; and information about the other income tax effects that are reclassified. ASU 2018-02 is effective for fiscal years beginning after December 15, 2018, and interim periods within those fiscal years. Early adoption is permitted, and entities should apply the proposed amendments either in the period of adoption or retrospectively to each period (or periods) in which the effect of the change in the U.S. federal corporate income tax rate in the Tax Act is recognized. The Company is currently evaluating the requirements of this guidance and has not yet determined the impact of its adoption on the Company's consolidated financial position, results of operations and cash flows. In August 2017, the FASB issued Accounting Standards Update No. 2017-12, Derivatives and Hedging (Topic 815), Targeted Improvements to Accounting for Hedging Activities ("ASU 2017-12") , which amends the hedge accounting recognition and presentation requirements in Topic 815. ASU 2017-12 makes targeted changes to the existing hedge accounting model to better align an entity’s financial reporting for hedging relationships with the entity’s risk management activities, and to reduce the complexity of, and simplify the application of, the hedge accounting model. Specifically, ASU 2017-12 expands the types of transactions eligible for hedge accounting, eliminates the requirement to separately measure and present hedge ineffectiveness, simplifies the way assessments of hedge ineffectiveness may be performed, relaxes the documentation requirements for entering into hedging positions, provides targeted improvements to fair value hedges of interest rate risk, and permits an entity to exclude the change in the fair value of cross-currency basis spreads in currency swaps from the assessment of hedge effectiveness. The standard also requires entities to provide new disclosures about the impact fair value and cash flow hedges have on their income statements and about cumulative basis adjustments arising from fair value hedges. The provisions of this guidance are to be applied using a modified retrospective approach to existing hedging relationships as of the adoption date. However, the transition provisions allow for certain elections at the date of adoption and entities may choose to apply any of the provided elections. ASU 2017-12 is effective for annual reporting periods beginning after December 15, 2018, and interim periods within those years. Early adoption is permitted, including adoption in any interim period. The Company early adopted the provisions of this guidance effective January 1, 2018. The adoption did not have a material impact on the Company's consolidated financial position, results of operations and cash flows. In May 2017, the FASB issued Accounting Standards Update No. 2017-09, Compensation - Stock Compensation (Topic 718), Scope of Modification Accounting ("ASU 2017-09") , which amends the scope of modification accounting for share-based payment arrangements. ASU 2017-09 provides guidance on the types of changes to the terms or conditions of share-based payment awards to which an entity would be required to apply modification accounting under Topic 718. Specifically, an entity would not apply modification accounting if the fair value, vesting conditions, and classification of the awards are the same immediately before and after the modification. If an entity modifies its awards and concludes that it is not required to apply modification accounting under the standard, it must still consider whether the modification affects its application of other guidance. Additionally, if a significant modification does not result in incremental compensation cost, entities are required to disclose the “lack of” incremental compensation cost resulting from such significant modification. The standard also removes the guidance in Topic 718 stating that modification accounting is not required when an entity adds an antidilution provision as long as that modification is not made in contemplation of an equity restructuring. The provisions of this guidance are to be applied on a prospective basis to awards modified on or after the effective date. ASU 2017-09 is effective for annual reporting periods beginning after December 15, 2017, and interim periods within those years. Early adoption is permitted, including adoption in any interim period. The Company adopted ASU 2017-09 effective January 1, 2018. The adoption did not have a material impact on the Company's consolidated financial position, results of operations and cash flows. In March 2017, the FASB issued Accounting Standards Update No. 2017-07, Compensation - Retirement Benefits (Topic 715), Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost ("ASU 2017-07") , which amends the requirements in Topic 715 related to the income statement presentation of the components of net periodic benefit cost for an entity’s sponsored defined benefit pension and other postretirement plans. ASU 2017-07 requires entities to (1) disaggregate the current-service-cost component from the other components of net benefit cost (the “other components”) and present it with other current employee compensation costs in their income statements and (2) present the other components elsewhere in their income statements and outside of income from operations, and disclose the income statement lines that contain the other components if they are not presented on appropriately described separate lines. Additionally, the standard requires that only the service-cost component of net benefit cost is eligible for capitalization (e.g., as part of inventory or property, plant, and equipment). The change in income statement presentation requires retrospective application, while the change in capitalized benefit cost is to be applied prospectively. ASU 2017-07 is effective for annual reporting periods beginning after December 15, 2017, and interim periods within those years, with early adoption permitted. The standard provides a practical expedient that permits entities to use the components of cost disclosed in prior years as a basis for the retrospective application of the new income statement presentation. Entities need to disclose the use of the practical expedient. The Company adopted ASU 2017-07 effective January 1, 2018 using a retrospective approach for each period presented. For the three and nine months ended October 1, 2017 , $1.8 million and $5.4 million , respectively, of net periodic pension credit previously presented within operating income has been presented outside of operating income in the line item "Interest and other expense, net" in the condensed consolidated statement of operations due to the retrospective adoption of ASU 2017-07. The adoption did not have a material impact on the Company's consolidated financial position, results of operations and cash flows, other than the impact discussed above. In January 2017, the FASB issued Accounting Standards Update No. 2017-01, Business Combinations (Topic 805), Clarifying the Definition of a Business ("ASU 2017-01"), which amends Topic 805 to provide a screen to determine when a set of assets and liabilities is not a business. The screen requires that when substantially all of the fair value of the gross assets acquired (or disposed of) is concentrated in a single identifiable asset or a group of similar identifiable assets, the set is not a business. This screen reduces the number of transactions that need to be further evaluated. If the screen is not met, the standard (1) requires that to be considered a business, a set must include, at a minimum, an input and a substantive process that together significantly contribute to the ability to create output and (2) removes the evaluation of whether a market participant could replace missing elements. The standard provides a framework to assist entities in evaluating whether both an input and a substantive process are present. The standard also provides a framework that includes two sets of criteria to consider that depend on whether a set has outputs and a more stringent criteria for sets without outputs. Lastly, the standard narrows the definition of the term "output" so that the term is consistent with how outputs are described in Topic 606, Revenue from Contracts with Customers . The provisions of this guidance are to be applied prospectively. ASU 2017-01 is effective for annual reporting periods beginning after December 15, 2017, and interim periods within those years, with early adoption permitted in limited circumstances. The Company adopted ASU 2017-01 effective January 1, 2018. The adoption did not have a material impact on the Company's consolidated financial position, results of operations and cash flows. In November 2016, the FASB issued Accounting Standards Update No. 2016-18, Statement of Cash Flows (Topic 230), Restricted Cash ("ASU 2016-18"), which amends Topic 230 to add or clarify guidance on the classification and presentation of restricted cash in the statement of cash flows. The standard requires that a statement of cash flows explain the change during the period in the total of cash, cash equivalents and amounts generally described as restricted cash or restricted cash equivalents. Therefore, amounts generally described as restricted cash and restricted cash equivalents should be included with cash and cash equivalents when reconciling the beginning-of-period and end-of-period total amounts shown on the statement of cash flows. The provisions of this guidance are to be applied using a retrospective transition method to each period presented. ASU 2016-18 is effective for annual reporting periods beginning after December 15, 2017, and interim periods within those years, with early adoption permitted. The Company adopted ASU 2016-18 effective January 1, 2018. For the nine months ended October 1, 2017 , $17.2 million of changes in restricted cash balances that was previously presented within investing activities in the condensed consolidated statement of cash flows has been excluded from the cash flows used in investing activities and the effect of exchange rate changes increased by $0.2 million due to the retrospective adoption of ASU 2016-18. Restricted cash amounting to $17.3 million and $0.2 million at January 1, 2017 and October 1, 2017 , respectively, have been included with the cash and cash equivalents when reconciling the beginning of period and end of period total amounts on the condensed consolidated statement of cash flows for the nine months ended October 1, 2017 . The adoption did not have a material impact on the Company's consolidated financial position, results of operations and cash flows, other than the impact discussed above. In October 2016, the FASB issued Accounting Standards Update No. 2016-16, Income Taxes (Topic 740), Intra-entity Transfer of Assets Other than Inventory ("ASU 2016-16"). ASU 2016-16 removes the prohibition in Topic 740 against the immediate recognition of the current and deferred income tax effects of intra-entity transfers of assets other than inventory. The standard requires entities to recognize the income tax consequences of an intra-entity transfer of an asset other than inventory when the transfer occurs. The provisions of this guidance are to be applied on a modified retrospective basis through a cumulative-effect adjustment directly to retained earnings as of the beginning of the period of adoption. ASU 2016-16 is effective for annual reporting periods beginning after December 15, 2017, and interim periods within those years, with early adoption permitted. The Company adopted ASU 2016-16 on January 1, 2018. The adoption of the standard resulted in a decrease in the retained earnings at January 1, 2018 of approximately $2.0 million with corresponding increase in deferred tax assets of $10.7 million and decrease in prepaid taxes of $12.8 million related to prior years’ intra-entity transfers of assets other than inventory. The adoption did not have a material impact on the Company's consolidated financial position, results of operations and cash flows, other than the impact discussed above. In June 2016, the FASB issued Accounting Standards Update No. 2016-13, Financial Instruments - Credit Losses (Topic 326), Measurement of Credit Losses on Financial Instruments ("ASU 2016-13"). ASU 2016-13 changes how entities will measure credit losses for most financial assets and certain other instruments that are not measured at fair value through net income. The standard requires entities to use the expected loss impairment model and will apply to most financial assets measured at amortized cost and certain other instruments, including trade and other receivables, loans, held-to-maturity debt securities, net investments in leases and off-balance sheet credit exposures. Entities are required to estimate the lifetime “expected credit loss” for each applicable financial asset and record an allowance that, when deducted from the amortized cost basis of the financial asset, presents the net amount expected to be collected on the financial asset. The standard also amends the impairment model for available-for-sale (“AFS”) debt securities and requires entities to determine whether all or a portion of the unrealized loss on an AFS debt security is a credit loss. An entity will recognize an allowance for credit losses on an AFS debt security as a contra-account to the amortized cost basis rather than as a direct reduction of the amortized cost basis of the investment. The provisions of this guidance are to be applied using a modified-retrospective approach. A prospective transition approach is required for debt securities for which an other-than-temporary impairment had been recognized before the effective date. ASU 2016-13 is effective for annual reporting periods beginning after December 15, 2019, and interim periods within those years. Early adoption is permitted for annual periods beginning after December 15, 2018, and interim periods therein. The Company is currently evaluating the requirements of this guidance and has not yet determined the impact of its adoption on the Company's consolidated financial position, results of operations and cash flows. In February 2016, the FASB issued Accounting Standards Update No. 2016-02, Leases ("ASU 2016-02"). ASU 2016-02 requires organizations that lease assets to recognize assets and liabilities on the balance sheet related to the rights and obligations created by those leases, regardless of whether they are classified as finance or operating leases. Consistent with current guidance, the recognition, measurement, and presentation of expenses and cash flows arising from a lease of assets will primarily depend on its classification as a finance or operating lease. ASU 2016-02 also requires new disclosures to help financial statement users better understand the amount, timing, and uncertainty of cash flows arising from leases. The provisions of this guidance are effective for annual periods beginning after December 15, 2018, and interim periods within those years, with early adoption permitted. ASU 2016-02 is to be applied using a modified retrospective approach. Subsequent to the issuance of ASU 2016-02, in July 2018, the FASB issued Accounting Standards Update No. 2018-10, Codification Improvements to Topic 842, Leases ("ASU 2018-10") and Accounting Standards Update No. 2018-11, Leases (Topic 842): Targeted Improvements ("ASU 2018-11"). The amendments in ASU 2018-10 clarify, correct or remove inconsistencies in the guidance provided under ASU 2016-02 related to sixteen specific issues identified. The amendments in ASU 2018-11 provide entities with an additional (and optional) transition method to adopt the new leases standard. Under the new transition method, an entity initially applies the new leases standard at the adoption date and recognizes a cumulative-effect adjustment to the opening balance of retained earnings in the period of adoption. Consequently, an entity's reporting for the comparative periods presented in the financial statements in the period of adoption will continue to be in accordance with ASC 840, Leases ("ASC 840" ). An entity that elects this additional (and optional) transition method must provide the required disclosures under ASC 840 for all periods that continue to be in accordance with ASC 840. ASU 2018-11 also provides lessors with a practical expedient, by class of underlying asset, to not separate nonlease components from the associated lease component and, instead, to account for those components as a single component if certain criteria are met. The effective date and transition requirements for these two standards are the same as the effective date and transition requirements of ASU 2016-02. The Company is in the process of completing its evaluation of the impact of the new leases standard upon adoption and has not yet determined the impact of adoption on its consolidated financial position, results of operations and cash flows. The Company intends to adopt the new leases standard using the optional transition method and will apply the new leases standard on December 31, 2018 (the first day of fiscal year 2019). In May 2014, the FASB issued Accounting Standards Update No. 2014-09, Revenue from Contracts with Customers ("ASU 2014-09"). Under this new guidance, an entity should use a five-step process to recognize revenue, depicting the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The standard also requires new disclosures regarding the nature, amount, timing and uncertainty of revenue and cash flows arising from contracts with customers. Subsequent to the issuance of the standard, the FASB decided to defer the effective date for one year to annual reporting periods beginning after December 15, 2017, with early adoption permitted for annual reporting periods beginning after December 15, 2016. In November 2017, the FASB also issued Accounting Standards Update No. 2017-14, Income Statement-Reporting Comprehensive Income (Topic 220), Revenue Recognition (Topic 605), and Revenue from Contracts with Customers (Topic 606) . ASU 2017-14 includes amendments to certain SEC paragraphs within the FASB Accounting Standards Codification ("Codification"). ASU 2017-14 amends the Codification to incorporate SEC Staff Accounting Bulletin No. 116 and SEC Interpretive Release on Vaccines for Federal Government Stockpiles (SEC Release No. 33-10403) to align existing SEC staff guidance with Revenue from Contracts with Customers (Topic 606). In May 2016, the FASB also issued Accounting Standards Update No. 2016-12, Revenue from Contracts with Customers (Topic 606), Narrow-Scope Improvements and Practical Expedients ("ASU 2016-12") , which amended its revenue recognition guidance in ASU 2014-09 on transition, collectability, non-cash consideration, contract modifications and completed contracts at transition and the presentation of sales and other similar taxes collected from customers. In April 2016, the FASB also issued Accounting Standards Update No. 2016-10, Revenue from Contracts with Customers (Topic 606), Identifying Performance Obligations and Licensing ("ASU 2016-10") , which amended its revenue recognition guidance in ASU 2014-09 on identifying performance obligations to allow entities to disregard items that are immaterial in the context of the contract, clarify when a promised good or service is separately identifiable (i.e., distinct within the context of the contract) and allow an entity to elect to account for the cost of shipping and handling performed after control of a good has been transferred to the customer as a fulfillment cost (i.e., an expense). ASU 2016-10 also clarifies how an entity should evaluate the nature of its promise in granting a license of intellectual property ("IP") and requires entities to classify IP in one of two categories: functional IP or symbolic IP, which will determine whether it recognizes revenue over time or at a point in time. ASU 2016-10 also addresses how entities should consider license renewals and restrictions and apply the exception for sales- and usage-based royalties received in exchange for licenses of IP. In March 2016, the FASB also issued Accounting Standards Update No. 2016-08, Revenue from Contracts with Customers (Topic 606), Principal versus Agent Considerations (Reporting Revenue Gross versus Net) ("ASU 2016-08"), which amended the principal-versus-agent implementation guidance and illustrations in ASU 2014-09. ASU 2016-08 clarifies that an entity should evaluate when it is |
Revenue Recognition, Policy [Policy Text Block] | The Company adopted ASC 606, Revenue from Contracts with Customers ("ASC 606"), with a date of the initial application of January 1, 2018. As a result, the Company has changed its accounting policy for revenue recognition as detailed below. The Company applied ASC 606 using the modified retrospective method only to contracts that are not completed contracts as of January 1, 2018, and the cumulative effect of initially applying ASC 606 is recognized as an adjustment to the beginning retained earnings. Therefore, the comparative information has not been adjusted and continues to be reported under ASC 605. The details of the significant changes and quantitative impact of the changes are disclosed below. A. Sales of software subscriptions or sales of licenses and maintenance in bundled arrangements The Company previously recognized revenue from software licenses sold together with maintenance and/or consulting services upon shipment using the residual method, provided that the undelivered items in the arrangement have value to the customer on a stand-alone basis and vendor-specific objective evidence ("VSOE") of fair value can be determined. If VSOE of fair value for the undelivered elements cannot be established, the Company deferred all revenue from the arrangement until the earlier of the point at which such sufficient VSOE does exist or all elements of the arrangement have been delivered, or if the undelivered element is maintenance, then the Company recognized the entire fee ratably over the maintenance period. Under ASC 606, the total consideration in the contract is allocated to all products and services based on their stand-alone selling prices. The stand-alone selling prices are determined based on the list prices at which the Company sells the software license, software subscription, maintenance and/or consulting services. Accordingly, the Company now recognizes higher license revenue upfront and less service revenue over time. B. Sales of instruments The Company previously recognized revenue from sale of instruments when persuasive evidence of an arrangement existed, delivery had occurred, the price to the buyer was fixed or determinable, and collectability was reasonably assured. For certain sales of instruments that included customer-specified acceptance criteria, the Company previously recognized revenue after the acceptance criteria had been met. Under ASC 606, revenue is recognized when the Company satisfies a performance obligation by transferring control of the product to a customer. Accordingly, the Company now recognizes product revenue upon delivery or when title has transferred to the customer, as the Company believes acceptance is perfunctory. C. Sales commissions The Company previously recognized commission fees related to sales of products and services as selling expenses when they were incurred. Under ASC 606, the Company capitalizes those commission fees as costs of obtaining a contract, when they are incremental and, if they are expected to be recovered, the Company amortizes them consistently with the pattern of transfer of the product or service to which the asset relates. If the expected amortization period is one year or less, the commission fee is expensed when incurred. |
Revenue (Tables)
Revenue (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Disaggregation of Revenue [Line Items] | |
Disaggregation of Revenue [Table Text Block] | In the following tables, revenue is disaggregated by primary geographical market, end-markets and timing of revenue recognition. The tables also include a reconciliation of the disaggregated revenue with the reportable segments revenue. Reportable Segments Three Months Ended September 30, 2018 Discovery & Analytical Solutions Diagnostics Total (In thousands) Primary geographical markets Americas $ 169,366 $ 95,607 $ 264,973 Europe 110,747 68,480 179,227 Asia 126,053 104,060 230,113 $ 406,166 $ 268,147 $ 674,313 Primary end-markets Diagnostics $ — $ 268,147 $ 268,147 Life sciences 222,191 — 222,191 Applied markets 183,975 — 183,975 $ 406,166 $ 268,147 $ 674,313 Timing of revenue recognition Products and services transferred at a point in time $ 290,929 $ 247,189 $ 538,118 Services transferred over time 115,237 20,958 136,195 $ 406,166 $ 268,147 $ 674,313 Reportable Segments Nine Months Ended September 30, 2018 Discovery & Analytical Solutions Diagnostics Total (In thousands) Primary geographical markets Americas $ 497,833 $ 282,536 $ 780,369 Europe 357,766 205,892 563,658 Asia 377,720 299,900 677,620 $ 1,233,319 $ 788,328 $ 2,021,647 Primary end-markets Diagnostics $ — $ 788,328 $ 788,328 Life sciences 675,807 — 675,807 Applied markets 557,512 — 557,512 $ 1,233,319 $ 788,328 $ 2,021,647 Timing of revenue recognition Products and services transferred at a point in time $ 874,517 $ 726,058 $ 1,600,575 Services transferred over time 358,802 62,270 421,072 $ 1,233,319 $ 788,328 $ 2,021,647 |
Changes in Accounting Policie_2
Changes in Accounting Policies (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Accounting Policies [Abstract] | |
Schedule of Prospective Adoption of New Accounting Pronouncements [Table Text Block] | Impacts on financial statements The following tables summarize the impacts of ASC 606 adoption on the Company's condensed consolidated financial statements for the quarter ended September 30, 2018 . Consolidated Balance Sheet As reported Adjustments Balances without adoption of ASC 606 (In thousands) Cash and cash equivalents $ 149,513 $ — $ 149,513 Accounts receivable, net 551,385 (11,554 ) 539,831 Inventories 354,244 7,451 361,695 Other current assets 110,353 (522 ) 109,831 Property, plant and equipment, net 317,049 — 317,049 Intangible assets, net 1,223,775 — 1,223,775 Goodwill 2,920,689 — 2,920,689 Other assets, net 235,347 — 235,347 Total assets $ 5,862,355 $ (4,625 ) $ 5,857,730 Current portion of long-term debt $ 20,072 $ — $ 20,072 Accounts payable 180,693 — 180,693 Accrued restructuring and contract termination charges 8,079 — 8,079 Accrued expenses and other current liabilities 475,743 18,912 494,655 Current liabilities of discontinued operations 2,165 — 2,165 Long-term debt 1,882,502 — 1,882,502 Long-term liabilities 720,632 — 720,632 Total liabilities 3,289,886 18,912 3,308,798 Commitments and contingencies Preferred stock — — — Common stock 111,087 — 111,087 Capital in excess of par value 89,970 — 89,970 Retained earnings 2,532,060 (23,537 ) 2,508,523 Accumulated other comprehensive loss (160,648 ) — (160,648 ) Total stockholders’ equity 2,572,469 (23,537 ) 2,548,932 Total liabilities and stockholders’ equity $ 5,862,355 $ (4,625 ) $ 5,857,730 Consolidated Statement of Operations Three Months Ended September 30, 2018 As reported Adjustments Balances without adoption of ASC 606 (In thousands) Product revenue $ 474,523 $ (3,198 ) $ 471,325 Service revenue 199,790 — 199,790 Total revenue 674,313 (3,198 ) 671,115 Cost of product revenue 213,672 (98 ) 213,574 Cost of service revenue 128,314 — 128,314 Total cost of revenue 341,986 (98 ) 341,888 Selling, general and administrative expenses 196,769 47 196,816 Research and development expenses 48,848 — 48,848 Restructuring and contract termination charges, net 6,508 — 6,508 Operating income from continuing operations 80,202 (3,147 ) 77,055 Interest and other expense, net 2,161 — 2,161 Income from continuing operations before income taxes 78,041 (3,147 ) 74,894 Provision for income taxes 2,596 (814 ) 1,782 Income from continuing operations 75,445 (2,333 ) 73,112 Loss on disposition of discontinued operations before income taxes (308 ) — (308 ) Benefit from income taxes on discontinued operations and dispositions (1,411 ) — (1,411 ) Gain from discontinued operations and dispositions 1,103 — 1,103 Net income $ 76,548 $ (2,333 ) $ 74,215 Consolidated Statement of Operations Nine Months Ended September 30, 2018 As reported Adjustments Balances without adoption of ASC 606 (In thousands) Product revenue $ 1,417,739 $ (25,562 ) $ 1,392,177 Service revenue 603,908 — 603,908 Total revenue 2,021,647 (25,562 ) 1,996,085 Cost of product revenue 663,651 (7,780 ) 655,871 Cost of service revenue 393,307 — 393,307 Total cost of revenue 1,056,958 (7,780 ) 1,049,178 Selling, general and administrative expenses 601,374 300 601,674 Research and development expenses 142,028 — 142,028 Restructuring and contract termination charges, net 13,086 — 13,086 Operating income from continuing operations 208,201 (18,082 ) 190,119 Interest and other expense, net 29,947 — 29,947 Income from continuing operations before income taxes 178,254 (18,082 ) 160,172 Provision for income taxes 12,101 (4,753 ) 7,348 Income from continuing operations 166,153 (13,329 ) 152,824 Loss on disposition of discontinued operations before income taxes (859 ) — (859 ) Benefit from income taxes on discontinued operations and dispositions (1,341 ) — (1,341 ) Gain from discontinued operations and dispositions 482 — 482 Net income $ 166,635 $ (13,329 ) $ 153,306 The adoption of ASC 606 increased comprehensive income by $2.3 million and $13.3 million in the Company's condensed consolidated statement of comprehensive income for the three and nine months ended September 30, 2018 , respectively. The adoption of ASC 606 had no impact on cash from or used in operating, investing, or financing activities in the Company's condensed consolidated statement of cash flows as of and for the nine months ended September 30, 2018 |
Business Combinations (Tables)
Business Combinations (Tables) | 9 Months Ended | |
Sep. 30, 2018 | Oct. 01, 2017 | |
Business Acquisition [Line Items] | ||
Business Acquisition, Pro Forma Information [Table Text Block] | The following unaudited pro forma information presents the combined financial results for the Company and EUROIMMUN as if the acquisition of EUROIMMUN had been completed at the beginning of fiscal year 2016: Three Months Ended October 1, 2017 Nine Months Ended October 1, 2017 (In thousands, except per share data) Pro Forma Statement of Operations Information (Unaudited): Revenue $ 640,154 $ 1,846,233 Income from continuing operations 94,055 172,672 Basic earnings per share: Income from continuing operations $ 0.86 $ 1.57 Diluted earnings per share: Income from continuing operations $ 0.85 $ 1.56 The unaudited pro forma information for the three and nine months ended October 1, 2017 has been calculated after applying the Company's accounting policies and the impact of acquisition date fair value adjustments. These pro forma condensed consolidated financial results have been prepared for comparative purposes only and include certain adjustments, such as increased interest expense on debt obtained to finance the transaction and increased amortization for the acquired intangible assets recorded at fair value. The pro forma information does not reflect the effect of costs or synergies that would have been expected to result from the integration of the acquisition. The pro forma information does not purport to be indicative of the results of operations that actually would have resulted had the combination occurred at the beginning of each period presented, or of future results of the consolidated entities. | |
Schedule of Business Acquisitions, by Acquisition [Table Text Block] | The total purchase price for the acquisitions in fiscal year 2017 has been allocated to the estimated fair values of assets acquired and liabilities assumed as follows: EUROIMMUN Other Acquisitions (In thousands) Fair value of business combination: Cash payments $ 1,413,780 $ 140,861 Other liability — 1,273 Working capital and other adjustments — (93 ) Less: cash acquired (25,018 ) (2,439 ) Total $ 1,388,762 $ 139,602 Identifiable assets acquired and liabilities assumed: Current assets $ 121,174 $ 16,268 Property, plant and equipment 130,512 11,356 Other assets 49,679 1,691 Identifiable intangible assets: Core technology 160,000 12,400 Trade names 36,000 3,000 Customer relationships 710,000 43,700 In-process research and development ("IPR&D") 1,400 — Goodwill 581,172 75,250 Deferred taxes (253,288 ) (15,735 ) Liabilities assumed (86,530 ) (8,328 ) Debt assumed (61,357 ) — Total $ 1,388,762 $ 139,602 The total purchase price for the acquisitions in fiscal year 2018 has been allocated to the estimated fair values of assets acquired and liabilities assumed as follows: 2018 Acquisitions (In thousands) Fair value of business combination: Cash payments $ 43,942 Other liability 3,354 Contingent consideration 7,500 Working capital and other adjustments 599 Less: cash acquired (1,138 ) Total $ 54,257 Identifiable assets acquired and liabilities assumed: Current assets $ 3,469 Property, plant and equipment 937 Other assets 430 Identifiable intangible assets: Core technology 15,957 Trade names 1,010 Customer relationships 10,800 Goodwill 28,423 Deferred taxes (2,524 ) Liabilities assumed (4,037 ) Debt assumed (208 ) Total $ 54,257 |
Discontinued Operations (Tables
Discontinued Operations (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Discontinued Operations and Disposal Groups [Abstract] | |
Schedule of Disposal Groups, Including Discontinued Operations, Income Statement, Balance Sheet and Additional Disclosures [Table Text Block] | The summary pre-tax operating results of the discontinued operations, were as follows for the three and nine months ended: Three Months Ended Nine Months Ended September 30, October 1, September 30, October 1, (In thousands) Revenue $ — $ — $ — $ 44,343 Cost of revenue — — — 32,933 Selling, general and administrative expenses — — — 5,869 Research and development expenses — — — 4,891 (Loss) income from discontinued operations before income taxes $ — $ — $ — $ 650 |
Restructuring and Lease Charg_2
Restructuring and Lease Charges, Net (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Restructuring Cost and Reserve [Line Items] | |
Schedule of Restructuring Plan Activity [Table Text Block] | The following table summarizes the reductions in headcount, the initial restructuring or contract termination charges by reporting segment, and the dates by which payments were substantially completed, or the dates by which payments are expected to be substantially completed, for restructuring actions implemented during fiscal years 2018 and 2017 in continuing operations: Workforce Reductions Closure of Excess Facility Total (Expected) Date Payments Substantially Completed by Headcount Reduction Discovery & Analytical Solutions Diagnostics Discovery & Analytical Solutions Diagnostics Severance Excess Facility (In thousands, except headcount data) Q3 2018 Plan 61 $ 1,146 $ 618 $ — $ — $ 1,764 Q2 FY2019 — Q1 2018 Plan 47 5,096 902 — — 5,998 Q2 FY2019 — Q4 2017 Plan 29 1,680 255 — — 1,935 Q1 FY2019 — Q3 2017 Plan 27 1,321 1,021 — — 2,342 Q4 FY2018 — Q1 2017 Plan 90 5,000 1,631 33 33 6,697 Q4 FY2018 Q4 FY2018 |
Schedule of Restructuring Reserve by Type of Cost [Table Text Block] | The following table summarizes the Company's restructuring and contract termination accrual balances and related activity by restructuring plan, as well as contract termination accrual balances and related activity, during the nine months ended September 30, 2018 : Balance at December 31, 2017 2018 Charges 2018 Changes in Estimates, Net 2018 Amounts Paid Balance at September 30, 2018 (In thousands) Severance: Q3 2018 Plan $ — $ 1,764 $ — $ — $ 1,764 Q1 2018 Plan — 5,998 — (4,273 ) 1,725 Q4 2017 Plan 1,919 — — (1,538 ) 381 Q3 2017 Plan 2,072 — — (868 ) 1,204 Q1 2017 Plan 2,498 — — (1,174 ) 1,324 Facility: Q1 2017 Plan 33 — — (22 ) 11 Previous Plans 4,399 — 353 (2,106 ) 2,646 Restructuring 10,921 7,762 353 (9,981 ) 9,055 Contract Termination 3,048 4,744 227 (7,653 ) 366 Total Restructuring and Contract Termination $ 13,969 $ 12,506 $ 580 $ (17,634 ) $ 9,421 |
Interest and Other Expense (I_2
Interest and Other Expense (Income), Net (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Other Income and Expenses [Abstract] | |
Interest and Other Expense (Income), Net | Interest and other expense, net, consisted of the following: Three Months Ended Nine Months Ended September 30, October 1, September 30, October 1, (In thousands) Interest income $ (316 ) $ (802 ) $ (754 ) $ (1,512 ) Interest expense 16,684 10,974 50,745 32,510 (Gain) loss on disposition of businesses and assets, net (see Note 5) (13,031 ) — (13,031 ) 301 Other income, net (1,176 ) (37,188 ) (7,013 ) (45,096 ) Total interest and other expense (income), net $ 2,161 $ (27,016 ) $ 29,947 $ (13,797 ) |
Inventories, Net (Tables)
Inventories, Net (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Inventory Disclosure [Abstract] | |
Schedule of Net Inventories | Inventories as of September 30, 2018 and December 31, 2017 consisted of the following: September 30, December 31, (In thousands) Raw materials $ 117,266 $ 122,100 Work in progress 21,389 18,452 Finished goods 215,589 211,123 Total inventories $ 354,244 $ 351,675 |
Income Taxes (Tables)
Income Taxes (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Income Tax Disclosure [Abstract] | |
Schedule of Income before Income Tax, Domestic and Foreign [Table Text Block] | The total provision for income taxes included in the condensed consolidated statement of operations consisted of the following: Three Months Ended Nine Months Ended September 30, October 1, September 30, October 1, (In thousands) Continuing operations $ 2,596 $ 8,508 $ 12,101 $ 20,495 Discontinued operations (1,411 ) 5,262 (1,341 ) 42,405 Total $ 1,185 $ 13,770 $ 10,760 $ 62,900 |
Earnings Per Share (Tables)
Earnings Per Share (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Earnings Per Share [Abstract] | |
Schedule of Reconciliation of Number of Shares Utilized in Earnings Per Share Calculations | The following table reconciles the number of shares utilized in the earnings per share calculations: Three Months Ended Nine Months Ended September 30, October 1, September 30, October 1, (In thousands) Number of common shares—basic 110,724 110,003 110,499 109,788 Effect of dilutive securities: Stock options 791 735 813 669 Restricted stock awards 232 255 198 196 Number of common shares—diluted 111,747 110,993 111,510 110,653 Number of potentially dilutive securities excluded from calculation due to antidilutive impact 358 14 346 377 |
Industry Segment Information (T
Industry Segment Information (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Segment Reporting [Abstract] | |
Schedule of Sales and Operating Income by Operating Segment, Excluding Discontinued Operations | Revenue and operating income (loss) from continuing operations by operating segment are shown in the table below: Three Months Ended Nine Months Ended September 30, October 1, September 30, October 1, (In thousands) Discovery & Analytical Solutions Product revenue $ 247,250 $ 222,618 $ 748,270 $ 665,068 Service revenue 158,916 162,764 485,049 465,202 Total revenue 406,166 385,382 1,233,319 1,130,270 Operating income from continuing operations 48,381 47,258 149,243 128,604 Diagnostics Product revenue 227,273 132,201 669,469 378,466 Service revenue 40,874 36,692 118,859 106,616 Total revenue 268,147 168,893 788,328 485,082 Operating income from continuing operations 47,411 43,361 104,585 113,024 Corporate Operating loss from continuing operations (15,590 ) (12,581 ) (45,627 ) (39,596 ) Continuing Operations Product revenue 474,523 354,819 1,417,739 1,043,534 Service revenue 199,790 199,456 603,908 571,818 Total revenue 674,313 554,275 2,021,647 1,615,352 Operating income from continuing operations 80,202 78,038 208,201 202,032 Interest and other expense (income), net (see Note 7) 2,161 (27,016 ) 29,947 (13,797 ) Income from continuing operations before income taxes $ 78,041 $ 105,054 $ 178,254 $ 215,829 |
Stockholders' Equity (Tables)
Stockholders' Equity (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Stockholders' Equity Note [Abstract] | |
Components of Accumulated Other Comprehensive Loss | The components of accumulated other comprehensive loss consisted of the following: September 30, December 31, (In thousands) Foreign currency translation adjustments $ (160,780 ) $ (46,582 ) Unrecognized prior service costs, net of income taxes 322 322 Unrealized net losses on securities, net of income taxes (190 ) (258 ) Accumulated other comprehensive loss $ (160,648 ) $ (46,518 ) |
Stock Plans (Tables)
Stock Plans (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Summary of Total Compensation Recognized Related to Outstanding Equity Awards | The following table summarizes total pre-tax compensation expense recognized related to the Company’s stock option grants, restricted stock awards, performance restricted stock units, performance units and stock awards, included in the Company’s condensed consolidated statements of operations for the three and nine months ended September 30, 2018 and October 1, 2017 : Three Months Ended Nine Months Ended September 30, October 1, September 30, October 1, (In thousands) Cost of revenue $ 430 $ 357 $ 1,093 $ 898 Research and development expenses 335 373 1,029 1,077 Selling, general and administrative expenses 10,362 3,682 21,153 14,204 Total stock-based compensation expense $ 11,127 $ 4,412 $ 23,275 $ 16,179 The total income tax benefit recognized in the condensed consolidated statements of operations for stock-based compensation was $6.1 million and $10.6 million for the three and nine months ended September 30, 2018 , respectively. The total income tax benefit recognized in the condensed consolidated statements of operations for stock-based compensation was $1.9 million and $9.9 million for the three and nine months ended October 1, 2017 , respectively. Stock-based compensation costs capitalized as part of inventory were $0.4 million as of each of September 30, 2018 and October 1, 2017 |
Weighted-Average Assumptions Used in the Black-Scholes Option Pricing Model | The Company’s weighted-average assumptions used in the Black-Scholes option pricing model were as follows: Three and Nine Months Ended September 30, October 1, Risk-free interest rate 2.9 % 1.5 % Expected dividend yield 0.4 % 0.4 % Expected term 5 years 5 years Expected stock volatility 20.7 % 22.4 % |
Summary of Stock Option Activity | The following table summarizes stock option activity for the nine months ended September 30, 2018 : Number of Shares Weighted- Average Exercise Price Weighted-Average Remaining Contractual Term Total Intrinsic Value (In thousands) (In years) (In millions) Outstanding at December 31, 2017 2,154 $ 42.77 Granted 363 77.81 Exercised (554 ) 35.19 Forfeited (43 ) 51.62 Outstanding at September 30, 2018 1,920 $ 51.38 4.3 $ 88.1 Exercisable at September 30, 2018 1,113 $ 43.10 3.2 $ 60.3 |
Summary of Restricted Stock Award Activity | The following table summarizes restricted stock award activity for the nine months ended September 30, 2018 : Number of Shares Weighted- Average Grant- Date Fair Value (In thousands) Nonvested at December 31, 2017 496 $ 50.30 Granted 206 75.78 Vested (200 ) 50.18 Forfeited (32 ) 53.67 Nonvested at September 30, 2018 470 $ 61.38 |
Goodwill and Intangible Asset_2
Goodwill and Intangible Assets, Net (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Changes in the Carrying Amount of Goodwill | The changes in the carrying amount of goodwill for the nine months ended September 30, 2018 were as follows: Discovery & Analytical Solutions Diagnostics Consolidated (In thousands) Balance at December 31, 2017 $ 1,344,235 $ 1,657,963 $ 3,002,198 Foreign currency translation (26,167 ) (31,613 ) (57,780 ) Acquisitions and other (7,980 ) (15,749 ) (23,729 ) Balance at September 30, 2018 $ 1,310,088 $ 1,610,601 $ 2,920,689 |
Identifiable Intangible Asset Balances | Identifiable intangible asset balances at September 30, 2018 and December 31, 2017 by category were as follows: September 30, December 31, (In thousands) Patents $ 42,951 $ 39,959 Less: Accumulated amortization (37,046 ) (35,085 ) Net patents 5,905 4,874 Trade names and trademarks 78,628 80,974 Less: Accumulated amortization (32,251 ) (28,250 ) Net trade names and trademarks 46,377 52,724 Licenses 52,261 53,300 Less: Accumulated amortization (44,889 ) (42,635 ) Net licenses 7,372 10,665 Core technology 476,403 471,740 Less: Accumulated amortization (272,475 ) (244,916 ) Net core technology 203,928 226,824 Customer relationships 1,108,220 1,141,511 Less: Accumulated amortization (290,616 ) (242,840 ) Net customer relationships 817,604 898,671 IPR&D 81,813 88,025 Less: Accumulated amortization (9,808 ) (5,427 ) Net IPR&D 72,005 82,598 Net amortizable intangible assets 1,153,191 1,276,356 Non-amortizing intangible asset: Trade name 70,584 70,584 Total $ 1,223,775 $ 1,346,940 |
Warranty Reserves (Tables)
Warranty Reserves (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Product Warranties Disclosures [Abstract] | |
Warranty Reserve Activity | A summary of warranty reserve activity for the three and nine months ended September 30, 2018 and October 1, 2017 is as follows: Three Months Ended Nine Months Ended September 30, October 1, September 30, October 1, (In thousands) Balance at beginning of period $ 8,943 $ 9,088 $ 9,050 $ 9,012 Provision charged to income 3,327 3,326 10,012 9,706 Payments (3,547 ) (3,488 ) (10,514 ) (10,625 ) Adjustments to previously provided warranties, net (226 ) (730 ) 110 (215 ) Foreign currency translation and acquisitions (49 ) 117 (210 ) 435 Balance at end of period $ 8,448 $ 8,313 $ 8,448 $ 8,313 |
Employee Benefit Plans (Tables)
Employee Benefit Plans (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Retirement Benefits [Abstract] | |
Components of Net Periodic Benefit Cost (Credit) | The following table summarizes the components of net periodic pension credit for the Company’s various defined benefit employee pension and postretirement plans for the three and nine months ended September 30, 2018 and October 1, 2017 : Defined Benefit Pension Benefits Postretirement Medical Benefits Three Months Ended September 30, October 1, September 30, October 1, (In thousands) Service and administrative costs $ 1,712 $ 1,231 $ 27 $ 23 Interest cost 4,051 4,160 30 32 Expected return on plan assets (7,270 ) (6,568 ) (314 ) (279 ) Amortization of prior service costs (41 ) (49 ) — — Net periodic pension credit $ (1,548 ) $ (1,226 ) $ (257 ) $ (224 ) Defined Benefit Pension Benefits Postretirement Medical Benefits Nine Months Ended September 30, October 1, September 30, October 1, (In thousands) Service and administrative costs $ 5,180 $ 3,667 $ 80 $ 69 Interest cost 12,212 12,420 90 94 Expected return on plan assets (21,926 ) (19,609 ) (941 ) (836 ) Amortization of prior service costs (123 ) (144 ) — — Net periodic benefit credit $ (4,657 ) $ (3,666 ) $ (771 ) $ (673 ) |
Fair Value Measurements (Tables
Fair Value Measurements (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Fair Value Disclosures [Abstract] | |
Assets and Liabilities Carried at Fair Value Measured on a Recurring Basis | The following tables show the assets and liabilities carried at fair value measured on a recurring basis as of September 30, 2018 and December 31, 2017 classified in one of the three classifications described above: Fair Value Measurements at September 30, 2018 Using: Total Carrying Value at September 30, 2018 Quoted Prices in Active Markets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable (Level 3) (In thousands) Marketable securities $ 2,405 $ 2,405 $ — $ — Foreign exchange derivative assets 1,273 — 1,273 — Foreign exchange derivative liabilities (4,694 ) — (4,694 ) — Contingent consideration (67,126 ) — — (67,126 ) Fair Value Measurements at December 31, 2017 Using: Total Carrying Value at December 31, 2017 Quoted Prices in Active Markets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) (In thousands) Marketable securities $ 2,208 $ 2,208 $ — $ — Foreign exchange derivative assets 1,431 — 1,431 — Foreign exchange derivative liabilities (23,638 ) — (23,638 ) — Contingent consideration (65,328 ) — — (65,328 ) |
Reconciliation of Beginning and Ending Level 3 Net Liabilities | A reconciliation of the beginning and ending Level 3 net liabilities for contingent consideration is as follows: Three Months Ended Nine Months Ended September 30, October 1, September 30, October 1, (In thousands) Balance at beginning of period $ (74,093 ) $ (64,076 ) $ (65,328 ) $ (63,201 ) Additions (5,800 ) — (7,500 ) — Amounts paid and foreign currency translation 16,507 — 16,507 34 Change in fair value (included within selling, general and administrative expenses) (3,740 ) (651 ) (10,805 ) (1,560 ) Balance at end of period $ (67,126 ) $ (64,727 ) $ (67,126 ) $ (64,727 ) |
Basis of Presentation (Basis of
Basis of Presentation (Basis of Presentation) (Details) - USD ($) | 3 Months Ended | 9 Months Ended | 12 Months Ended | |||||
Sep. 30, 2018 | Oct. 01, 2017 | Sep. 30, 2018 | Oct. 01, 2017 | Dec. 30, 2018 | Dec. 31, 2017 | Jan. 01, 2018 | Jan. 01, 2017 | |
Basis of Presentation [Line Items] | ||||||||
Defined Benefit Plan, Other Cost (Credit) | $ (2,500,000) | $ (1,800,000) | $ (7,500,000) | $ (5,400,000) | ||||
Effect of Exchange Rate on Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | (7,410,000) | 19,945,000 | ||||||
Restricted Cash | $ 3,204,000 | 236,000 | $ 3,204,000 | 236,000 | ||||
Operating Cycle | 52 | |||||||
Accounting Standards Update 2014-09 [Member] | ||||||||
Basis of Presentation [Line Items] | ||||||||
Cumulative Effect of New Accounting Principle in Period of Adoption | $ 10,200,000 | |||||||
Impact of New Accounting Principle, Deferred Revenue | (11,500,000) | |||||||
Tax impact of Cumulative Adjustments, Deferred Income Tax | 3,000,000 | |||||||
Accounting Standards Update 2016-16 [Member] | ||||||||
Basis of Presentation [Line Items] | ||||||||
Cumulative Effect of New Accounting Principle in Period of Adoption | 2,000,000 | |||||||
Impact of New Accounting Principles, Deferred Tax Assets | 10,700,000 | |||||||
Impact of New Accounting Principles, Prepaid Taxes | $ (12,800,000) | |||||||
Accounting Standards Update 2016-18 [Member] | ||||||||
Basis of Presentation [Line Items] | ||||||||
Increase (Decrease) in Restricted Cash | (17,218,000) | |||||||
Effect of Exchange Rate on Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | (200,000) | |||||||
Restricted Cash | 236,000 | 236,000 | $ 17,302,000 | |||||
Accounting Standards Update 2017-07 [Member] | ||||||||
Basis of Presentation [Line Items] | ||||||||
Defined Benefit Plan, Other Cost (Credit) | $ 1,800,000 | $ 5,400,000 | ||||||
Scenario, Forecast [Member] | ||||||||
Basis of Presentation [Line Items] | ||||||||
Operating Cycle | 52 |
Revenue (Details)
Revenue (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2018 | Oct. 01, 2017 | Sep. 30, 2018 | Oct. 01, 2017 | Jan. 01, 2018 | |
Disaggregation of Revenue [Line Items] | |||||
Revenue from Contract with Customer, Excluding Assessed Tax | $ 674,313 | $ 554,275 | $ 2,021,647 | $ 1,615,352 | |
Contract with Customer, Asset and Liability [Abstract] | |||||
Contract with Customer, Asset, Net, Current | 31,200 | 31,200 | $ 22,700 | ||
Contract with Customer, Liability, Current | 26,300 | 26,300 | $ 29,000 | ||
Contract with Customer, Liability, Revenue Recognized | (20,400) | ||||
Increase (Decrease) in Unbilled Receivables | 29,500 | ||||
Unbilled Receivables Transferred To Accounts Receivables | (21,100) | ||||
Contract with Customer, Liability, Increase (Decrease) | 17,600 | ||||
Transferred at Point in Time [Member] | |||||
Disaggregation of Revenue [Line Items] | |||||
Revenue from Contract with Customer, Excluding Assessed Tax | 538,118 | 1,600,575 | |||
Transferred over Time [Member] | |||||
Disaggregation of Revenue [Line Items] | |||||
Revenue from Contract with Customer, Excluding Assessed Tax | 136,195 | 421,072 | |||
Americas [Member] | |||||
Disaggregation of Revenue [Line Items] | |||||
Revenue from Contract with Customer, Excluding Assessed Tax | 264,973 | 780,369 | |||
Europe [Member] | |||||
Disaggregation of Revenue [Line Items] | |||||
Revenue from Contract with Customer, Excluding Assessed Tax | 179,227 | 563,658 | |||
Asia [Member] | |||||
Disaggregation of Revenue [Line Items] | |||||
Revenue from Contract with Customer, Excluding Assessed Tax | 230,113 | 677,620 | |||
Discovery & Analytical Solutions [Member] | |||||
Disaggregation of Revenue [Line Items] | |||||
Revenue from Contract with Customer, Excluding Assessed Tax | 406,166 | 385,382 | 1,233,319 | 1,130,270 | |
Discovery & Analytical Solutions [Member] | Transferred at Point in Time [Member] | |||||
Disaggregation of Revenue [Line Items] | |||||
Revenue from Contract with Customer, Excluding Assessed Tax | 290,929 | 874,517 | |||
Discovery & Analytical Solutions [Member] | Transferred over Time [Member] | |||||
Disaggregation of Revenue [Line Items] | |||||
Revenue from Contract with Customer, Excluding Assessed Tax | 115,237 | 358,802 | |||
Discovery & Analytical Solutions [Member] | Americas [Member] | |||||
Disaggregation of Revenue [Line Items] | |||||
Revenue from Contract with Customer, Excluding Assessed Tax | 169,366 | 497,833 | |||
Discovery & Analytical Solutions [Member] | Europe [Member] | |||||
Disaggregation of Revenue [Line Items] | |||||
Revenue from Contract with Customer, Excluding Assessed Tax | 110,747 | 357,766 | |||
Discovery & Analytical Solutions [Member] | Asia [Member] | |||||
Disaggregation of Revenue [Line Items] | |||||
Revenue from Contract with Customer, Excluding Assessed Tax | 126,053 | 377,720 | |||
Diagnostics [Member] | |||||
Disaggregation of Revenue [Line Items] | |||||
Revenue from Contract with Customer, Excluding Assessed Tax | 268,147 | $ 168,893 | 788,328 | $ 485,082 | |
Diagnostics [Member] | Transferred at Point in Time [Member] | |||||
Disaggregation of Revenue [Line Items] | |||||
Revenue from Contract with Customer, Excluding Assessed Tax | 247,189 | 726,058 | |||
Diagnostics [Member] | Transferred over Time [Member] | |||||
Disaggregation of Revenue [Line Items] | |||||
Revenue from Contract with Customer, Excluding Assessed Tax | 20,958 | 62,270 | |||
Diagnostics [Member] | Americas [Member] | |||||
Disaggregation of Revenue [Line Items] | |||||
Revenue from Contract with Customer, Excluding Assessed Tax | 95,607 | 282,536 | |||
Diagnostics [Member] | Europe [Member] | |||||
Disaggregation of Revenue [Line Items] | |||||
Revenue from Contract with Customer, Excluding Assessed Tax | 68,480 | 205,892 | |||
Diagnostics [Member] | Asia [Member] | |||||
Disaggregation of Revenue [Line Items] | |||||
Revenue from Contract with Customer, Excluding Assessed Tax | 104,060 | 299,900 | |||
Diagnostics [Member] | |||||
Disaggregation of Revenue [Line Items] | |||||
Revenue from Contract with Customer, Excluding Assessed Tax | 268,147 | 788,328 | |||
Diagnostics [Member] | Discovery & Analytical Solutions [Member] | |||||
Disaggregation of Revenue [Line Items] | |||||
Revenue from Contract with Customer, Excluding Assessed Tax | 0 | 0 | |||
Diagnostics [Member] | Diagnostics [Member] | |||||
Disaggregation of Revenue [Line Items] | |||||
Revenue from Contract with Customer, Excluding Assessed Tax | 268,147 | 788,328 | |||
Life Sciences [Member] | |||||
Disaggregation of Revenue [Line Items] | |||||
Revenue from Contract with Customer, Excluding Assessed Tax | 222,191 | 675,807 | |||
Life Sciences [Member] | Discovery & Analytical Solutions [Member] | |||||
Disaggregation of Revenue [Line Items] | |||||
Revenue from Contract with Customer, Excluding Assessed Tax | 222,191 | 675,807 | |||
Life Sciences [Member] | Diagnostics [Member] | |||||
Disaggregation of Revenue [Line Items] | |||||
Revenue from Contract with Customer, Excluding Assessed Tax | 0 | 0 | |||
Applied Markets [Member] | |||||
Disaggregation of Revenue [Line Items] | |||||
Revenue from Contract with Customer, Excluding Assessed Tax | 183,975 | 557,512 | |||
Applied Markets [Member] | Discovery & Analytical Solutions [Member] | |||||
Disaggregation of Revenue [Line Items] | |||||
Revenue from Contract with Customer, Excluding Assessed Tax | 183,975 | 557,512 | |||
Applied Markets [Member] | Diagnostics [Member] | |||||
Disaggregation of Revenue [Line Items] | |||||
Revenue from Contract with Customer, Excluding Assessed Tax | $ 0 | $ 0 |
Changes in Accounting Policie_3
Changes in Accounting Policies (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2018 | Oct. 01, 2017 | Sep. 30, 2018 | Oct. 01, 2017 | Dec. 31, 2017 | |
Revenue, Initial Application Period Cumulative Effect Transition [Line Items] | |||||
Revenue from Contract with Customer, Excluding Assessed Tax | $ (674,313) | $ (554,275) | $ (2,021,647) | $ (1,615,352) | |
Cost of Revenue | 341,986 | 285,308 | 1,056,958 | 849,027 | |
Selling, general and administrative expenses | 196,769 | 152,775 | 601,374 | 449,642 | |
Research and development expenses | 48,848 | 34,885 | 142,028 | 101,731 | |
Restructuring and contract termination charges, net | 6,508 | 3,269 | 13,086 | 12,920 | |
Operating income (loss) from continuing operations | 80,202 | 78,038 | 208,201 | 202,032 | |
Nonoperating Income (Expense) | 2,161 | (27,016) | 29,947 | (13,797) | |
Income (Loss) from Continuing Operations before Equity Method Investments, Income Taxes, Noncontrolling Interest | 78,041 | 105,054 | 178,254 | 215,829 | |
Provision for income taxes | 2,596 | 8,508 | 12,101 | 20,495 | |
Income (Loss) from Continuing Operations, Net of Tax, Attributable to Parent | 75,445 | 96,546 | 166,153 | 195,334 | |
Income from discontinued operations before income taxes | 0 | 0 | 0 | 650 | |
(Loss) gain on disposition of discontinued operations before income taxes | (308) | (206) | (859) | 180,171 | |
Cash and cash equivalents | 149,513 | 709,488 | 149,513 | 709,488 | $ 202,134 |
Accounts receivable, net | (551,385) | (551,385) | (552,304) | ||
Inventories | 354,244 | 354,244 | 351,675 | ||
Other current assets | (110,353) | (110,353) | (93,842) | ||
Property, Plant and Equipment, Net | 317,049 | 317,049 | 298,066 | ||
Intangible assets, net | 1,223,775 | 1,223,775 | 1,346,940 | ||
Goodwill | 2,920,689 | 2,920,689 | 3,002,198 | ||
Other assets, net | 235,347 | 235,347 | 244,304 | ||
Assets | (5,862,355) | (5,862,355) | (6,091,463) | ||
Current portion of long-term debt | 20,072 | 20,072 | 217,306 | ||
Accounts payable | 180,693 | 180,693 | 222,093 | ||
Accrued expenses and other current liabilities | 8,079 | 8,079 | 8,759 | ||
Accrued expenses and other current liabilities | 475,743 | 475,743 | 500,642 | ||
Current liabilities of discontinued operations | 2,165 | 2,165 | 2,102 | ||
Long-term debt | 1,882,502 | 1,882,502 | 1,788,803 | ||
Long-term liabilities | 720,632 | 720,632 | 848,570 | ||
Liabilities | 3,289,886 | 3,289,886 | 3,588,275 | ||
Preferred Stock, Value, Issued | 0 | 0 | 0 | ||
Common Stock, Value, Issued | 111,087 | 111,087 | 110,361 | ||
Capital in excess of par value | 89,970 | 89,970 | 58,828 | ||
Retained earnings | 2,532,060 | 2,532,060 | 2,380,517 | ||
Accumulated other comprehensive loss | (160,648) | (160,648) | (46,518) | ||
Stockholders' Equity Attributable to Parent | 2,572,469 | 2,572,469 | 2,503,188 | ||
Liabilities and Equity | (5,862,355) | (5,862,355) | $ (6,091,463) | ||
Discontinued Operation, Tax Effect of Discontinued Operation | (1,411) | 5,262 | (1,341) | 42,405 | |
Income (Loss) from Discontinued Operations, Net of Tax, Including Portion Attributable to Noncontrolling Interest | 1,103 | (5,468) | 482 | 138,416 | |
Net income | 76,548 | 91,078 | 166,635 | 333,750 | |
Difference between Revenue Guidance in Effect before and after Topic 606 [Member] | |||||
Revenue, Initial Application Period Cumulative Effect Transition [Line Items] | |||||
Revenue from Contract with Customer, Excluding Assessed Tax | (3,198) | (25,562) | |||
Cost of Revenue | 98 | 7,780 | |||
Selling, general and administrative expenses | 47 | 300 | |||
Research and development expenses | 0 | 0 | |||
Restructuring and contract termination charges, net | 0 | 0 | |||
Operating income (loss) from continuing operations | (3,147) | (18,082) | |||
Nonoperating Income (Expense) | 0 | 0 | |||
Income (Loss) from Continuing Operations before Equity Method Investments, Income Taxes, Noncontrolling Interest | (3,147) | (18,082) | |||
Provision for income taxes | (814) | (4,753) | |||
Income (Loss) from Continuing Operations, Net of Tax, Attributable to Parent | (2,333) | (13,329) | |||
(Loss) gain on disposition of discontinued operations before income taxes | 0 | 0 | |||
Cash and cash equivalents | 0 | 0 | |||
Accounts receivable, net | (11,554) | (11,554) | |||
Inventories | 7,451 | 7,451 | |||
Other current assets | (522) | (522) | |||
Property, Plant and Equipment, Net | 0 | 0 | |||
Intangible assets, net | 0 | 0 | |||
Goodwill | 0 | 0 | |||
Other assets, net | 0 | 0 | |||
Assets | (4,625) | (4,625) | |||
Current portion of long-term debt | 0 | 0 | |||
Accounts payable | 0 | 0 | |||
Accrued expenses and other current liabilities | 0 | 0 | |||
Accrued expenses and other current liabilities | 18,912 | 18,912 | |||
Current liabilities of discontinued operations | 0 | 0 | |||
Long-term debt | 0 | 0 | |||
Long-term liabilities | 0 | 0 | |||
Liabilities | 18,912 | 18,912 | |||
Preferred Stock, Value, Issued | 0 | 0 | |||
Common Stock, Value, Issued | 0 | 0 | |||
Capital in excess of par value | 0 | 0 | |||
Retained earnings | (23,537) | (23,537) | |||
Accumulated other comprehensive loss | 0 | 0 | |||
Stockholders' Equity Attributable to Parent | (23,537) | (23,537) | |||
Liabilities and Equity | (4,625) | (4,625) | |||
Discontinued Operation, Tax Effect of Discontinued Operation | 0 | 0 | |||
Income (Loss) from Discontinued Operations, Net of Tax, Including Portion Attributable to Noncontrolling Interest | 0 | 0 | |||
Net income | (2,333) | (13,329) | |||
Calculated under Revenue Guidance in Effect before Topic 606 [Member] | |||||
Revenue, Initial Application Period Cumulative Effect Transition [Line Items] | |||||
Revenue from Contract with Customer, Excluding Assessed Tax | (671,115) | (1,996,085) | |||
Cost of Revenue | 341,888 | 1,049,178 | |||
Selling, general and administrative expenses | 196,816 | 601,674 | |||
Research and development expenses | 48,848 | 142,028 | |||
Restructuring and contract termination charges, net | 6,508 | 13,086 | |||
Operating income (loss) from continuing operations | 77,055 | 190,119 | |||
Nonoperating Income (Expense) | 2,161 | 29,947 | |||
Income (Loss) from Continuing Operations before Equity Method Investments, Income Taxes, Noncontrolling Interest | 74,894 | 160,172 | |||
Provision for income taxes | 1,782 | 7,348 | |||
Income (Loss) from Continuing Operations, Net of Tax, Attributable to Parent | 73,112 | 152,824 | |||
(Loss) gain on disposition of discontinued operations before income taxes | (308) | (859) | |||
Cash and cash equivalents | 149,513 | 149,513 | |||
Accounts receivable, net | (539,831) | (539,831) | |||
Inventories | 361,695 | 361,695 | |||
Other current assets | (109,831) | (109,831) | |||
Property, Plant and Equipment, Net | 317,049 | 317,049 | |||
Intangible assets, net | 1,223,775 | 1,223,775 | |||
Goodwill | 2,920,689 | 2,920,689 | |||
Other assets, net | 235,347 | 235,347 | |||
Assets | (5,857,730) | (5,857,730) | |||
Current portion of long-term debt | 20,072 | 20,072 | |||
Accounts payable | 180,693 | 180,693 | |||
Accrued expenses and other current liabilities | 8,079 | 8,079 | |||
Accrued expenses and other current liabilities | 494,655 | 494,655 | |||
Current liabilities of discontinued operations | 2,165 | 2,165 | |||
Long-term debt | 1,882,502 | 1,882,502 | |||
Long-term liabilities | 720,632 | 720,632 | |||
Liabilities | 3,308,798 | 3,308,798 | |||
Preferred Stock, Value, Issued | 0 | 0 | |||
Common Stock, Value, Issued | 111,087 | 111,087 | |||
Capital in excess of par value | 89,970 | 89,970 | |||
Retained earnings | 2,508,523 | 2,508,523 | |||
Accumulated other comprehensive loss | (160,648) | (160,648) | |||
Stockholders' Equity Attributable to Parent | 2,548,932 | 2,548,932 | |||
Liabilities and Equity | (5,857,730) | (5,857,730) | |||
Discontinued Operation, Tax Effect of Discontinued Operation | (1,411) | (1,341) | |||
Income (Loss) from Discontinued Operations, Net of Tax, Including Portion Attributable to Noncontrolling Interest | 1,103 | 482 | |||
Net income | 74,215 | 153,306 | |||
Accounting Standards Update 2014-09 [Member] | |||||
Revenue, Initial Application Period Cumulative Effect Transition [Line Items] | |||||
Impact of New Accounting Principle, Comprehensive income | (2,300) | (13,300) | |||
Product [Member] | |||||
Revenue, Initial Application Period Cumulative Effect Transition [Line Items] | |||||
Revenue from Contract with Customer, Excluding Assessed Tax | (474,523) | (354,819) | (1,417,739) | (1,043,534) | |
Cost of Goods and Services Sold | (213,672) | (165,015) | (663,651) | (501,079) | |
Product [Member] | Difference between Revenue Guidance in Effect before and after Topic 606 [Member] | |||||
Revenue, Initial Application Period Cumulative Effect Transition [Line Items] | |||||
Revenue from Contract with Customer, Excluding Assessed Tax | (3,198) | (25,562) | |||
Cost of Goods and Services Sold | (98) | (7,780) | |||
Product [Member] | Calculated under Revenue Guidance in Effect before Topic 606 [Member] | |||||
Revenue, Initial Application Period Cumulative Effect Transition [Line Items] | |||||
Revenue from Contract with Customer, Excluding Assessed Tax | (471,325) | (1,392,177) | |||
Cost of Goods and Services Sold | (213,574) | (655,871) | |||
Service [Member] | |||||
Revenue, Initial Application Period Cumulative Effect Transition [Line Items] | |||||
Revenue from Contract with Customer, Excluding Assessed Tax | (199,790) | (199,456) | (603,908) | (571,818) | |
Cost of Goods and Services Sold | (128,314) | $ (120,293) | (393,307) | $ (347,948) | |
Service [Member] | Difference between Revenue Guidance in Effect before and after Topic 606 [Member] | |||||
Revenue, Initial Application Period Cumulative Effect Transition [Line Items] | |||||
Revenue from Contract with Customer, Excluding Assessed Tax | 0 | 0 | |||
Cost of Goods and Services Sold | 0 | 0 | |||
Service [Member] | Calculated under Revenue Guidance in Effect before Topic 606 [Member] | |||||
Revenue, Initial Application Period Cumulative Effect Transition [Line Items] | |||||
Revenue from Contract with Customer, Excluding Assessed Tax | (199,790) | (603,908) | |||
Cost of Goods and Services Sold | $ (128,314) | $ (393,307) |
Business Combinations (Narrativ
Business Combinations (Narrative) (Details) | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||||||||
Dec. 30, 2018USD ($) | Sep. 30, 2018USD ($) | Apr. 01, 2018USD ($) | Oct. 01, 2017USD ($)$ / shares | Sep. 30, 2018USD ($) | Oct. 01, 2017USD ($)$ / shares | Dec. 31, 2017USD ($)employees | Jan. 03, 2016USD ($) | Jul. 01, 2018USD ($) | Jul. 02, 2017USD ($) | Jan. 01, 2017USD ($) | |
Business Acquisition [Line Items] | |||||||||||
Number of Years in Measurement Period from Acquisition Date to Change Underlying Assumptions | 1 year | ||||||||||
Business Combination, Contingent Consideration Arrangements, Range of Outcomes, Value, High | $ 76,500,000 | $ 76,500,000 | |||||||||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability Value | 67,126,000 | $ 64,727,000 | $ 67,126,000 | $ 64,727,000 | $ 65,328,000 | $ 74,093,000 | $ 64,076,000 | $ 63,201,000 | |||
Business Combination, Contingent Consideration Arrangements, Maximum Period | 2 years | ||||||||||
Business Combination, Contingent Consideration Arrangements, Weighted Average Period | 7 months | ||||||||||
Total transaction costs | 1,700,000 | (30,800,000) | $ 5,500,000 | (30,100,000) | |||||||
Business Combination, Contingent Consideration Arrangements, Description | Contingent consideration is measured at fair value at the acquisition date, based on the probability that revenue thresholds or product development milestones will be achieved during the earnout period, with changes in the fair value after the acquisition date affecting earnings to the extent it is to be settled in cash. | ||||||||||
Goodwill | 2,920,689,000 | $ 2,920,689,000 | 3,002,198,000 | ||||||||
Business Combination, Contingent Consideration, Liability, Current | 61,300,000 | 61,300,000 | 52,200,000 | ||||||||
Business Combination, Contingent Consideration, Liability, Noncurrent | 5,800,000 | 5,800,000 | 13,100,000 | ||||||||
Foreign Currency Transaction Gain (Loss), before Tax | (4,300,000) | 2,700,000 | 8,800,000 | 5,400,000 | |||||||
EUROIMMUM [Member] | |||||||||||
Business Acquisition [Line Items] | |||||||||||
Business Acquisition, Pro Forma Revenue | 640,154,000 | 1,846,233,000 | |||||||||
Business Combination, Pro Forma Information, Revenue of Acquiree since Acquisition Date, Actual | 13,500,000 | ||||||||||
Business Combination, Pro Forma Information, Earnings or Loss of Acquiree since Acquisition Date, Actual | $ (1,000,000) | ||||||||||
Business Acquisition, Percentage of Voting Interests Acquired | 99.98% | ||||||||||
Business Acquisition, Cost Of Acquired Entity, Working Capital Adjustments | $ 0 | ||||||||||
Business Combination, Consideration Transferred | 1,388,762,000 | ||||||||||
Cash Acquired | (25,018,000) | ||||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets | 121,174,000 | ||||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment | $ 130,512,000 | ||||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Other Noncurrent Assets | 49,679,000 | $ 49,679,000 | |||||||||
Entity Number of Employees | employees | 2,400 | ||||||||||
Cash paid to the shareholders | $ 1,413,780,000 | ||||||||||
Business Combination, Consideration Transferred, Liabilities Incurred | 0 | ||||||||||
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life | 16 years 1 month | ||||||||||
Goodwill | 581,172,000 | $ 581,172,000 | |||||||||
Intangible Assets, Gross (Excluding Goodwill) | 907,400,000 | 907,400,000 | |||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Noncurrent Liabilities, Long-term Debt | 61,357,000 | ||||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net | 1,388,762,000 | ||||||||||
Business Acquisition, Pro Forma Income (Loss) from Continuing Operations, Net of Tax | $ 94,055,000 | $ 172,672,000 | |||||||||
Business Acquisition, Pro Forma Earnings Per Share, Basic | $ / shares | $ 0.86 | $ 1.57 | |||||||||
Business Acquisition, Pro Forma Earnings Per Share, Diluted | $ / shares | $ 0.85 | $ 1.56 | |||||||||
Fiscal Year 2018 Acquisitions [Member] | |||||||||||
Business Acquisition [Line Items] | |||||||||||
Business Acquisition, Cost Of Acquired Entity, Working Capital Adjustments | (599,000) | ||||||||||
Business Combination, Consideration Transferred | 54,257,000 | ||||||||||
Cash Acquired | 1,138,000 | ||||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets | 3,469,000 | 3,469,000 | |||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment | 937,000 | 937,000 | |||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Other Noncurrent Assets | 430,000 | 430,000 | |||||||||
Cash paid to the shareholders | 43,942,000 | ||||||||||
Business Combination, Consideration Transferred, Liabilities Incurred | $ 3,354,000 | ||||||||||
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life | 14 years 7 months | ||||||||||
Business Acquisition, Cost of Acquired Entity, Liabilities Incurred, Contingent Consideration at Fair Value | $ 7,500,000 | ||||||||||
Goodwill | 28,423,000 | 28,423,000 | |||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Noncurrent Liabilities, Long-term Debt | 208,000 | 208,000 | |||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net | 54,257,000 | 54,257,000 | |||||||||
Fiscal Year 2017 Other Acquisitions [Member] | |||||||||||
Business Acquisition [Line Items] | |||||||||||
Business Acquisition, Cost Of Acquired Entity, Working Capital Adjustments | 93,000 | ||||||||||
Business Combination, Consideration Transferred | 139,602,000 | ||||||||||
Cash Acquired | 2,439,000 | ||||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets | 16,268,000 | ||||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment | 11,356,000 | ||||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Other Noncurrent Assets | 1,691,000 | ||||||||||
Business Acquisition, Cost of Acquired Entity, Cash Paid Including Working Capital And Other Adjustments | 142,041,000 | ||||||||||
Cash paid to the shareholders | 140,861,000 | ||||||||||
Business Combination, Consideration Transferred, Liabilities Incurred | 1,273,000 | ||||||||||
Goodwill | 75,250,000 | ||||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Noncurrent Liabilities, Long-term Debt | 0 | ||||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net | 139,602,000 | ||||||||||
Vanadis Diagnostics AB [Member] | |||||||||||
Business Acquisition [Line Items] | |||||||||||
Business Combination, Contingent Consideration Arrangements, Range of Outcomes, Value, High | $ 93,000,000 | ||||||||||
Business Acquisition, Cost of Acquired Entity, Liabilities Incurred, Contingent Consideration at Fair Value | 59,599,000 | $ 56,878,000 | |||||||||
Tulip Diagnostics Private Limited [Member] | |||||||||||
Business Acquisition [Line Items] | |||||||||||
Business Acquisition, Cost of Acquired Entity, Cash Paid Including Working Capital And Other Adjustments | $ 127,280,000 | ||||||||||
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life | 11 years 9 months | ||||||||||
Foreign Currency Transaction Gain (Loss), before Tax | 100,000 | 1,000,000 | |||||||||
Euroimmun [Member] | |||||||||||
Business Acquisition [Line Items] | |||||||||||
Goodwill, Purchase Accounting Adjustments | (1,520,000) | ||||||||||
Business Combination, Increase (Decrease) in Property and Equipment | 500,000 | ||||||||||
Business Combination, Increase (Decrease) in Other Assets | (265,000) | ||||||||||
Business Combination, Increase (Decrease) in Liabilities Assumed | 1,200,000 | ||||||||||
Business Combination, Increase (Decrease) in Deferred Tax Liabilities | 66,000 | ||||||||||
Foreign Currency Transaction Gain (Loss), before Tax | $ 36,300,000 | $ 42,000,000 | |||||||||
Fiscal Year 2017 Other Acquisitions, Excluding Tulip [Member] | |||||||||||
Business Acquisition [Line Items] | |||||||||||
Business Acquisition, Cost of Acquired Entity, Cash Paid Including Working Capital And Other Adjustments | $ 14,700,000 | ||||||||||
Diagnostics [Member] | |||||||||||
Business Acquisition [Line Items] | |||||||||||
Goodwill | 1,610,601,000 | 1,610,601,000 | 1,657,963,000 | ||||||||
Discovery & Analytical Solutions [Member] | |||||||||||
Business Acquisition [Line Items] | |||||||||||
Goodwill | 1,310,088,000 | 1,310,088,000 | 1,344,235,000 | ||||||||
Core Technology [Member] | EUROIMMUM [Member] | |||||||||||
Business Acquisition [Line Items] | |||||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles | 160,000,000 | ||||||||||
Core Technology [Member] | Fiscal Year 2018 Acquisitions [Member] | |||||||||||
Business Acquisition [Line Items] | |||||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles | 15,957,000 | 15,957,000 | |||||||||
Core Technology [Member] | Fiscal Year 2017 Other Acquisitions [Member] | |||||||||||
Business Acquisition [Line Items] | |||||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles | 12,400,000 | ||||||||||
Customer Relationships [Member] | EUROIMMUM [Member] | |||||||||||
Business Acquisition [Line Items] | |||||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles | 710,000,000 | 710,000,000 | |||||||||
Customer Relationships [Member] | Fiscal Year 2018 Acquisitions [Member] | |||||||||||
Business Acquisition [Line Items] | |||||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles | 10,800,000 | 10,800,000 | |||||||||
Customer Relationships [Member] | Fiscal Year 2017 Other Acquisitions [Member] | |||||||||||
Business Acquisition [Line Items] | |||||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles | 43,700,000 | ||||||||||
Trade Names [Member] | EUROIMMUM [Member] | |||||||||||
Business Acquisition [Line Items] | |||||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles | 36,000,000 | ||||||||||
Trade Names [Member] | Fiscal Year 2018 Acquisitions [Member] | |||||||||||
Business Acquisition [Line Items] | |||||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles | 1,010,000 | 1,010,000 | |||||||||
Trade Names [Member] | Fiscal Year 2017 Other Acquisitions [Member] | |||||||||||
Business Acquisition [Line Items] | |||||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles | 3,000,000 | ||||||||||
In-process Research and Development [Member] | EUROIMMUM [Member] | |||||||||||
Business Acquisition [Line Items] | |||||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles | 1,400,000 | ||||||||||
In-process Research and Development [Member] | Fiscal Year 2017 Other Acquisitions [Member] | |||||||||||
Business Acquisition [Line Items] | |||||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles | 0 | ||||||||||
Euro Member Countries, Euro | EUROIMMUM [Member] | |||||||||||
Business Acquisition [Line Items] | |||||||||||
Business Acquisition, Cost of Acquired Entity, Cash Paid Including Working Capital And Other Adjustments | 1,200,000,000 | ||||||||||
Euro Member Countries, Euro | Subsequent Event [Member] | Dani Analitica S.r.l. [Member] | |||||||||||
Business Acquisition [Line Items] | |||||||||||
Business Acquisition, Cost of Acquired Entity, Cash Paid Including Working Capital And Other Adjustments | $ 43,060,000 | ||||||||||
India, Rupees | Tulip Diagnostics Private Limited [Member] | |||||||||||
Business Acquisition [Line Items] | |||||||||||
Business Combination, Payment of Stay Bonus | $ 716,286,000 | ||||||||||
Business Combination, Remaining Stay Bonus To Be Paid | 803,600,000 | 803,600,000 | |||||||||
Business Combination, Stay Bonus Which May Be Paid, Maximum | 1,600,000,000 | ||||||||||
United States of America, Dollars | EUROIMMUM [Member] | |||||||||||
Business Acquisition [Line Items] | |||||||||||
Business Acquisition, Cost of Acquired Entity, Cash Paid Including Working Capital And Other Adjustments | 1,413,780,000 | ||||||||||
United States of America, Dollars | Fiscal Year 2018 Acquisitions [Member] | |||||||||||
Business Acquisition [Line Items] | |||||||||||
Business Acquisition, Cost of Acquired Entity, Cash Paid Including Working Capital And Other Adjustments | 55,395,000 | ||||||||||
United States of America, Dollars | Tulip Diagnostics Private Limited [Member] | |||||||||||
Business Acquisition [Line Items] | |||||||||||
Business Combination, Payment of Stay Bonus | $ 11,254,000 | ||||||||||
Business Combination, Remaining Stay Bonus To Be Paid | 11,100,000 | 11,100,000 | |||||||||
Business Combination, Stay Bonus Which May Be Paid, Maximum | 25,200,000 | ||||||||||
United States of America, Dollars | Shanghai Spectrum Instruments Co., Ltd. [Member] | |||||||||||
Business Acquisition [Line Items] | |||||||||||
Business Acquisition, Cost of Acquired Entity, Cash Paid Including Working Capital And Other Adjustments | 15,398,000 | ||||||||||
Business Combination, Contingent Consideration Arrangements, Range of Outcomes, Value, High | 2,000,000 | 2,000,000 | |||||||||
Business Acquisition, Cost of Acquired Entity, Liabilities Incurred, Contingent Consideration at Fair Value | 1,700,000 | ||||||||||
Business Combination, Additional Consideration, Liability | 2,500,000 | 2,500,000 | |||||||||
Business Combination, Additional Consideration, Liability, at Fair Value | 2,400,000 | 2,400,000 | |||||||||
United States of America, Dollars | RHS Limited [Member] | |||||||||||
Business Acquisition [Line Items] | |||||||||||
Business Acquisition, Cost of Acquired Entity, Cash Paid Including Working Capital And Other Adjustments | 19,442,000 | ||||||||||
United States of America, Dollars | DNA Labs [Member] | |||||||||||
Business Acquisition [Line Items] | |||||||||||
Business Acquisition, Cost of Acquired Entity, Cash Paid Including Working Capital And Other Adjustments | 9,000,000 | ||||||||||
Business Combination, Contingent Consideration Arrangements, Range of Outcomes, Value, High | 8,000,000 | 8,000,000 | |||||||||
Business Acquisition, Cost of Acquired Entity, Liabilities Incurred, Contingent Consideration at Fair Value | 5,800,000 | ||||||||||
Business Combination, Working Capital Adjustments To Be Paid | 700,000 | 700,000 | |||||||||
Business Combination, Additional Consideration, Liability | $ 1,000,000 | $ 1,000,000 | |||||||||
Cash and Cash Equivalents [Member] | United States of America, Dollars | EUROIMMUM [Member] | |||||||||||
Business Acquisition [Line Items] | |||||||||||
Business Acquisition, Cost of Acquired Entity, Cash Paid Including Working Capital And Other Adjustments | 503,780,000 | ||||||||||
Term Loan Credit Facility, 12 Months Maturity [Member] | United States of America, Dollars | EUROIMMUM [Member] | |||||||||||
Business Acquisition [Line Items] | |||||||||||
Business Acquisition, Cost of Acquired Entity, Cash Paid Including Working Capital And Other Adjustments | 200,000,000 | ||||||||||
Line of Credit, Maturing August 11, 2021 [Member] | United States of America, Dollars | EUROIMMUM [Member] | |||||||||||
Business Acquisition [Line Items] | |||||||||||
Business Acquisition, Cost of Acquired Entity, Cash Paid Including Working Capital And Other Adjustments | $ 710,000,000 |
Business Combinations (Fair Val
Business Combinations (Fair Values of the Business Combinations and Allocations for the Acquisitions Completed) (Details) - USD ($) | 9 Months Ended | 12 Months Ended |
Sep. 30, 2018 | Dec. 31, 2017 | |
Business Acquisition [Line Items] | ||
Goodwill | $ 2,920,689,000 | $ 3,002,198,000 |
EUROIMMUM [Member] | ||
Business Acquisition [Line Items] | ||
Business Acquisition, Cost of Acquired Entity, Cash Paid | 1,413,780,000 | |
Business Combination, Consideration Transferred, Liabilities Incurred | 0 | |
Business Acquisition, Cost Of Acquired Entity, Working Capital Adjustments | 0 | |
Cash Acquired | (25,018,000) | |
Business Combination, Consideration Transferred | 1,388,762,000 | |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets | 121,174,000 | |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment | 130,512,000 | |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Other Noncurrent Assets | 49,679,000 | |
Goodwill | 581,172,000 | |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Deferred Tax Liabilities, Total | (253,288,000) | |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities | (86,530,000) | |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net | 1,388,762,000 | |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Noncurrent Liabilities, Long-term Debt | (61,357,000) | |
Fiscal Year 2017 Other Acquisitions [Member] | ||
Business Acquisition [Line Items] | ||
Business Acquisition, Cost of Acquired Entity, Cash Paid | 140,861,000 | |
Business Combination, Consideration Transferred, Liabilities Incurred | 1,273,000 | |
Business Acquisition, Cost Of Acquired Entity, Working Capital Adjustments | 93,000 | |
Cash Acquired | 2,439,000 | |
Business Combination, Consideration Transferred | 139,602,000 | |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets | 16,268,000 | |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment | 11,356,000 | |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Other Noncurrent Assets | 1,691,000 | |
Goodwill | 75,250,000 | |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Deferred Tax Liabilities, Total | (15,735,000) | |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities | (8,328,000) | |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net | 139,602,000 | |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Noncurrent Liabilities, Long-term Debt | 0 | |
Fiscal Year 2018 Acquisitions [Member] | ||
Business Acquisition [Line Items] | ||
Business Acquisition, Cost of Acquired Entity, Cash Paid | 43,942,000 | |
Business Combination, Consideration Transferred, Liabilities Incurred | 3,354,000 | |
Business Acquisition, Cost of Acquired Entity, Liabilities Incurred, Contingent Consideration at Fair Value | (7,500,000) | |
Business Acquisition, Cost Of Acquired Entity, Working Capital Adjustments | (599,000) | |
Cash Acquired | 1,138,000 | |
Business Combination, Consideration Transferred | 54,257,000 | |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets | 3,469,000 | |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment | 937,000 | |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Other Noncurrent Assets | 430,000 | |
Goodwill | 28,423,000 | |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Deferred Tax Liabilities, Total | (2,524,000) | |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities | (4,037,000) | |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net | 54,257,000 | |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Noncurrent Liabilities, Long-term Debt | (208,000) | |
Core Technology [Member] | EUROIMMUM [Member] | ||
Business Acquisition [Line Items] | ||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles | 160,000,000 | |
Core Technology [Member] | Fiscal Year 2017 Other Acquisitions [Member] | ||
Business Acquisition [Line Items] | ||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles | 12,400,000 | |
Core Technology [Member] | Fiscal Year 2018 Acquisitions [Member] | ||
Business Acquisition [Line Items] | ||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles | 15,957,000 | |
Trade Names [Member] | EUROIMMUM [Member] | ||
Business Acquisition [Line Items] | ||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles | 36,000,000 | |
Trade Names [Member] | Fiscal Year 2017 Other Acquisitions [Member] | ||
Business Acquisition [Line Items] | ||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles | 3,000,000 | |
Trade Names [Member] | Fiscal Year 2018 Acquisitions [Member] | ||
Business Acquisition [Line Items] | ||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles | 1,010,000 | |
Customer Relationships [Member] | EUROIMMUM [Member] | ||
Business Acquisition [Line Items] | ||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles | 710,000,000 | |
Customer Relationships [Member] | Fiscal Year 2017 Other Acquisitions [Member] | ||
Business Acquisition [Line Items] | ||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles | 43,700,000 | |
Customer Relationships [Member] | Fiscal Year 2018 Acquisitions [Member] | ||
Business Acquisition [Line Items] | ||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles | 10,800,000 | |
In-process Research and Development [Member] | EUROIMMUM [Member] | ||
Business Acquisition [Line Items] | ||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles | 1,400,000 | |
In-process Research and Development [Member] | Fiscal Year 2017 Other Acquisitions [Member] | ||
Business Acquisition [Line Items] | ||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles | 0 | |
Diagnostics [Member] | ||
Business Acquisition [Line Items] | ||
Goodwill | 1,610,601,000 | 1,657,963,000 |
Discovery & Analytical Solutions [Member] | ||
Business Acquisition [Line Items] | ||
Goodwill | 1,310,088,000 | $ 1,344,235,000 |
United States of America, Dollars | Shanghai Spectrum Instruments Co., Ltd. [Member] | ||
Business Acquisition [Line Items] | ||
Business Acquisition, Cost of Acquired Entity, Liabilities Incurred, Contingent Consideration at Fair Value | $ (1,700,000) |
Discontinued Operations (Narrat
Discontinued Operations (Narrative) (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||
Sep. 30, 2018 | Oct. 01, 2017 | Sep. 30, 2018 | Oct. 01, 2017 | Dec. 31, 2017 | |
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |||||
Disposal Group, Including Discontinued Operation, Revenue | $ 0 | $ 0 | $ 0 | $ 44,343 | |
Income (Loss) from Discontinued Operations, Net of Tax, Including Portion Attributable to Noncontrolling Interest | 1,103 | (5,468) | 482 | 138,416 | |
Income from discontinued operations before income taxes | 0 | 0 | 0 | 650 | |
Pre-tax gain (loss) on disposal of business unit | (308) | (206) | (859) | 180,171 | |
Discontinued Operation, Tax Effect of Discontinued Operation | (1,411) | 5,262 | (1,341) | 42,405 | |
Current liabilities of discontinued operations | 2,165 | 2,165 | $ 2,102 | ||
Disposal Group, Including Discontinued Operation, Costs of Goods Sold | 0 | 0 | 0 | 32,933 | |
Disposal Group, Including Discontinued Operation, General and Administrative Expense | 0 | 0 | 0 | 5,869 | |
Disposal Group, Including Discontinued Operations, Research and development expenses | 0 | 0 | 0 | 4,891 | |
Discontinued Operation, Income (Loss) from Discontinued Operation, before Income Tax | 0 | $ 0 | $ 0 | $ 650 | |
Medical Imaging Business [Member] | |||||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |||||
Disposal Group, Including Discontinued Operation, Consideration | 277,400 | ||||
Disposal Group, Including Discontinued Operation, Working Capital Adjustment | 4,200 | ||||
Pre-tax gain (loss) on disposal of business unit | 179,615 | ||||
Discontinued Operation, Tax Effect of Gain (Loss) from Disposal of Discontinued Operation | 43,131 | ||||
Discontinued Operation, Period of Continuing Involvement after Disposal | 12 months | ||||
Suzhou PerkinElmer Medical Laboratory Co. Ltd [Member] | |||||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |||||
Disposal Group, Including Discontinued Operation, Consideration | 2,300 | ||||
Pre-tax gain (loss) on disposal of business unit | $ (1,108) | ||||
Multispectral Imaging Business [Member] | |||||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |||||
Disposal Group, Including Discontinued Operation, Consideration | 37,300 | $ 37,300 | |||
Pre-tax gain (loss) on disposal of business unit | $ 13,031 |
Restructuring and Lease Charg_3
Restructuring and Lease Charges, Net (Narrative) (Details) - USD ($) $ in Thousands | 9 Months Ended | |
Sep. 30, 2018 | Dec. 31, 2017 | |
Restructuring Cost and Reserve [Line Items] | ||
Accrued restructuring and integration costs | $ 9,421 | $ 13,969 |
Accrued expenses and other current liabilities | 8,079 | 8,759 |
Restructuring Reserve, Noncurrent | 1,300 | 2,300 |
Restructuring Reserve, Current other | $ 2,900 | |
Restructuring Reserve, Accrual Adjustment | $ 580 |
Restructuring and Lease Charg_4
Restructuring and Lease Charges, Net (Schedule of Initial Charges) (Details) $ in Thousands | 3 Months Ended | 9 Months Ended | ||||
Sep. 30, 2018USD ($)employees | Apr. 01, 2018USD ($)employees | Dec. 31, 2017USD ($)employees | Oct. 01, 2017USD ($)employees | Apr. 02, 2017USD ($)employees | Sep. 30, 2018USD ($) | |
Restructuring Cost and Reserve [Line Items] | ||||||
Restructuring Reserve | $ 9,421 | $ 13,969 | $ 9,421 | |||
Restructuring and contract termination charges, net | 12,506 | |||||
Restructuring Reserve, Accrual Adjustment | 580 | |||||
Restructuring reserve Settled with Cash and Translation Adjustment | (17,634) | |||||
Q3 2018 Restructuring Plan [Member] | ||||||
Restructuring Cost and Reserve [Line Items] | ||||||
Restructuring and Related Cost, Number of Positions Eliminated | employees | 61 | |||||
Restructuring and contract termination charges, net | $ 1,764 | |||||
Q1 2018 Restructuring Plan [Member] | ||||||
Restructuring Cost and Reserve [Line Items] | ||||||
Restructuring and Related Cost, Number of Positions Eliminated | employees | 47 | |||||
Restructuring and contract termination charges, net | $ 5,998 | |||||
Q4 2017 Restructuring Plan [Member] | ||||||
Restructuring Cost and Reserve [Line Items] | ||||||
Restructuring and Related Cost, Number of Positions Eliminated | employees | 29 | |||||
Restructuring and contract termination charges, net | $ 1,935 | |||||
Q3 2017 Restructuring Plan [Member] | ||||||
Restructuring Cost and Reserve [Line Items] | ||||||
Restructuring and Related Cost, Number of Positions Eliminated | employees | 27 | |||||
Restructuring and contract termination charges, net | $ 2,342 | |||||
Q1 2017 Restructuring Plan [Member] | ||||||
Restructuring Cost and Reserve [Line Items] | ||||||
Restructuring and Related Cost, Number of Positions Eliminated | employees | 90 | |||||
Restructuring and contract termination charges, net | $ 6,697 | |||||
Employee Severance [Member] | Q3 2018 Restructuring Plan [Member] | ||||||
Restructuring Cost and Reserve [Line Items] | ||||||
Restructuring Reserve | 1,764 | 0 | 1,764 | |||
Restructuring and contract termination charges, net | 1,764 | |||||
Restructuring Reserve, Accrual Adjustment | 0 | |||||
Restructuring reserve Settled with Cash and Translation Adjustment | 0 | |||||
Employee Severance [Member] | Q1 2018 Restructuring Plan [Member] | ||||||
Restructuring Cost and Reserve [Line Items] | ||||||
Restructuring Reserve | 1,725 | 0 | 1,725 | |||
Restructuring and contract termination charges, net | 5,998 | |||||
Restructuring Reserve, Accrual Adjustment | 0 | |||||
Restructuring reserve Settled with Cash and Translation Adjustment | (4,273) | |||||
Employee Severance [Member] | Q4 2017 Restructuring Plan [Member] | ||||||
Restructuring Cost and Reserve [Line Items] | ||||||
Restructuring Reserve | 381 | 1,919 | 381 | |||
Restructuring and contract termination charges, net | 0 | |||||
Restructuring Reserve, Accrual Adjustment | 0 | |||||
Restructuring reserve Settled with Cash and Translation Adjustment | (1,538) | |||||
Employee Severance [Member] | Q3 2017 Restructuring Plan [Member] | ||||||
Restructuring Cost and Reserve [Line Items] | ||||||
Restructuring Reserve | 1,204 | 2,072 | 1,204 | |||
Restructuring and contract termination charges, net | 0 | |||||
Restructuring Reserve, Accrual Adjustment | 0 | |||||
Restructuring reserve Settled with Cash and Translation Adjustment | (868) | |||||
Employee Severance [Member] | Q1 2017 Restructuring Plan [Member] | ||||||
Restructuring Cost and Reserve [Line Items] | ||||||
Restructuring Reserve | 1,324 | 2,498 | 1,324 | |||
Restructuring and contract termination charges, net | 0 | |||||
Restructuring Reserve, Accrual Adjustment | 0 | |||||
Restructuring reserve Settled with Cash and Translation Adjustment | 1,174 | |||||
Facility Closing [Member] | Q1 2017 Restructuring Plan [Member] | ||||||
Restructuring Cost and Reserve [Line Items] | ||||||
Restructuring Reserve | 11 | 33 | 11 | |||
Restructuring and contract termination charges, net | 0 | |||||
Restructuring Reserve, Accrual Adjustment | 0 | |||||
Restructuring reserve Settled with Cash and Translation Adjustment | $ (22) | |||||
Diagnostics [Member] | Employee Severance [Member] | Q3 2018 Restructuring Plan [Member] | ||||||
Restructuring Cost and Reserve [Line Items] | ||||||
Restructuring and contract termination charges, net | 618 | |||||
Diagnostics [Member] | Employee Severance [Member] | Q1 2018 Restructuring Plan [Member] | ||||||
Restructuring Cost and Reserve [Line Items] | ||||||
Restructuring and contract termination charges, net | 902 | |||||
Diagnostics [Member] | Employee Severance [Member] | Q4 2017 Restructuring Plan [Member] | ||||||
Restructuring Cost and Reserve [Line Items] | ||||||
Restructuring and contract termination charges, net | 255 | |||||
Diagnostics [Member] | Employee Severance [Member] | Q3 2017 Restructuring Plan [Member] | ||||||
Restructuring Cost and Reserve [Line Items] | ||||||
Restructuring and contract termination charges, net | 1,021 | |||||
Diagnostics [Member] | Employee Severance [Member] | Q1 2017 Restructuring Plan [Member] | ||||||
Restructuring Cost and Reserve [Line Items] | ||||||
Restructuring and contract termination charges, net | 1,631 | |||||
Diagnostics [Member] | Facility Closing [Member] | Q3 2018 Restructuring Plan [Member] | ||||||
Restructuring Cost and Reserve [Line Items] | ||||||
Restructuring and contract termination charges, net | 0 | |||||
Diagnostics [Member] | Facility Closing [Member] | Q1 2018 Restructuring Plan [Member] | ||||||
Restructuring Cost and Reserve [Line Items] | ||||||
Restructuring and contract termination charges, net | 0 | |||||
Diagnostics [Member] | Facility Closing [Member] | Q4 2017 Restructuring Plan [Member] | ||||||
Restructuring Cost and Reserve [Line Items] | ||||||
Restructuring and contract termination charges, net | 0 | |||||
Diagnostics [Member] | Facility Closing [Member] | Q3 2017 Restructuring Plan [Member] | ||||||
Restructuring Cost and Reserve [Line Items] | ||||||
Restructuring and contract termination charges, net | 0 | |||||
Diagnostics [Member] | Facility Closing [Member] | Q1 2017 Restructuring Plan [Member] | ||||||
Restructuring Cost and Reserve [Line Items] | ||||||
Restructuring and contract termination charges, net | 33 | |||||
Discovery & Analytical Solutions [Member] | Employee Severance [Member] | Q3 2018 Restructuring Plan [Member] | ||||||
Restructuring Cost and Reserve [Line Items] | ||||||
Restructuring and contract termination charges, net | 1,146 | |||||
Discovery & Analytical Solutions [Member] | Employee Severance [Member] | Q1 2018 Restructuring Plan [Member] | ||||||
Restructuring Cost and Reserve [Line Items] | ||||||
Restructuring and contract termination charges, net | 5,096 | |||||
Discovery & Analytical Solutions [Member] | Employee Severance [Member] | Q4 2017 Restructuring Plan [Member] | ||||||
Restructuring Cost and Reserve [Line Items] | ||||||
Restructuring and contract termination charges, net | 1,680 | |||||
Discovery & Analytical Solutions [Member] | Employee Severance [Member] | Q3 2017 Restructuring Plan [Member] | ||||||
Restructuring Cost and Reserve [Line Items] | ||||||
Restructuring and contract termination charges, net | 1,321 | |||||
Discovery & Analytical Solutions [Member] | Employee Severance [Member] | Q1 2017 Restructuring Plan [Member] | ||||||
Restructuring Cost and Reserve [Line Items] | ||||||
Restructuring and contract termination charges, net | 5,000 | |||||
Discovery & Analytical Solutions [Member] | Facility Closing [Member] | Q3 2018 Restructuring Plan [Member] | ||||||
Restructuring Cost and Reserve [Line Items] | ||||||
Restructuring and contract termination charges, net | $ 0 | |||||
Discovery & Analytical Solutions [Member] | Facility Closing [Member] | Q1 2018 Restructuring Plan [Member] | ||||||
Restructuring Cost and Reserve [Line Items] | ||||||
Restructuring and contract termination charges, net | $ 0 | |||||
Discovery & Analytical Solutions [Member] | Facility Closing [Member] | Q4 2017 Restructuring Plan [Member] | ||||||
Restructuring Cost and Reserve [Line Items] | ||||||
Restructuring and contract termination charges, net | $ 0 | |||||
Discovery & Analytical Solutions [Member] | Facility Closing [Member] | Q3 2017 Restructuring Plan [Member] | ||||||
Restructuring Cost and Reserve [Line Items] | ||||||
Restructuring and contract termination charges, net | $ 0 | |||||
Discovery & Analytical Solutions [Member] | Facility Closing [Member] | Q1 2017 Restructuring Plan [Member] | ||||||
Restructuring Cost and Reserve [Line Items] | ||||||
Restructuring and contract termination charges, net | $ 33 |
Restructuring and Lease Charg_5
Restructuring and Lease Charges, Net (Schedule of Restructuring Plan Activity) (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||||
Sep. 30, 2018 | Apr. 01, 2018 | Dec. 31, 2017 | Oct. 01, 2017 | Apr. 02, 2017 | Sep. 30, 2018 | |
Restructuring Reserve [Roll Forward] | ||||||
Balance at beginning of period | $ 13,969 | $ 13,969 | ||||
Restructuring and contract termination charges, net | 12,506 | |||||
Restructuring Reserve, Accrual Adjustment | 580 | |||||
Restructuring reserve Settled with Cash and Translation Adjustment | (17,634) | |||||
Balance at end of period | $ 9,421 | $ 13,969 | 9,421 | |||
Employee Severance and Facility Closing [Member] | ||||||
Restructuring Reserve [Roll Forward] | ||||||
Balance at beginning of period | 10,921 | 10,921 | ||||
Restructuring and contract termination charges, net | 7,762 | |||||
Restructuring Reserve, Accrual Adjustment | 353 | |||||
Restructuring reserve Settled with Cash and Translation Adjustment | (9,981) | |||||
Balance at end of period | 9,055 | 10,921 | 9,055 | |||
Contract Termination [Member] | ||||||
Restructuring Reserve [Roll Forward] | ||||||
Balance at beginning of period | 3,048 | 3,048 | ||||
Restructuring and contract termination charges, net | 4,744 | |||||
Restructuring Reserve, Accrual Adjustment | 227 | |||||
Restructuring reserve Settled with Cash and Translation Adjustment | (7,653) | |||||
Balance at end of period | 366 | 3,048 | 366 | |||
Q3 2018 Restructuring Plan [Member] | ||||||
Restructuring Reserve [Roll Forward] | ||||||
Restructuring and contract termination charges, net | 1,764 | |||||
Q3 2018 Restructuring Plan [Member] | Employee Severance [Member] | ||||||
Restructuring Reserve [Roll Forward] | ||||||
Balance at beginning of period | 0 | 0 | ||||
Restructuring and contract termination charges, net | 1,764 | |||||
Restructuring Reserve, Accrual Adjustment | 0 | |||||
Restructuring reserve Settled with Cash and Translation Adjustment | 0 | |||||
Balance at end of period | 1,764 | 0 | 1,764 | |||
Q1 2018 Restructuring Plan [Member] | ||||||
Restructuring Reserve [Roll Forward] | ||||||
Restructuring and contract termination charges, net | 5,998 | |||||
Q1 2018 Restructuring Plan [Member] | Employee Severance [Member] | ||||||
Restructuring Reserve [Roll Forward] | ||||||
Balance at beginning of period | 0 | 0 | ||||
Restructuring and contract termination charges, net | 5,998 | |||||
Restructuring Reserve, Accrual Adjustment | 0 | |||||
Restructuring reserve Settled with Cash and Translation Adjustment | (4,273) | |||||
Balance at end of period | 1,725 | 0 | 1,725 | |||
Q4 2017 Restructuring Plan [Member] | ||||||
Restructuring Reserve [Roll Forward] | ||||||
Restructuring and contract termination charges, net | 1,935 | |||||
Q4 2017 Restructuring Plan [Member] | Employee Severance [Member] | ||||||
Restructuring Reserve [Roll Forward] | ||||||
Balance at beginning of period | 1,919 | 1,919 | ||||
Restructuring and contract termination charges, net | 0 | |||||
Restructuring Reserve, Accrual Adjustment | 0 | |||||
Restructuring reserve Settled with Cash and Translation Adjustment | (1,538) | |||||
Balance at end of period | 381 | 1,919 | 381 | |||
Q3 2017 Restructuring Plan [Member] | ||||||
Restructuring Reserve [Roll Forward] | ||||||
Restructuring and contract termination charges, net | $ 2,342 | |||||
Q3 2017 Restructuring Plan [Member] | Employee Severance [Member] | ||||||
Restructuring Reserve [Roll Forward] | ||||||
Balance at beginning of period | 2,072 | 2,072 | ||||
Restructuring and contract termination charges, net | 0 | |||||
Restructuring Reserve, Accrual Adjustment | 0 | |||||
Restructuring reserve Settled with Cash and Translation Adjustment | (868) | |||||
Balance at end of period | 1,204 | 2,072 | 1,204 | |||
Q1 2017 Restructuring Plan [Member] | ||||||
Restructuring Reserve [Roll Forward] | ||||||
Restructuring and contract termination charges, net | $ 6,697 | |||||
Q1 2017 Restructuring Plan [Member] | Employee Severance [Member] | ||||||
Restructuring Reserve [Roll Forward] | ||||||
Balance at beginning of period | 2,498 | 2,498 | ||||
Restructuring and contract termination charges, net | 0 | |||||
Restructuring Reserve, Accrual Adjustment | 0 | |||||
Restructuring reserve Settled with Cash and Translation Adjustment | 1,174 | |||||
Balance at end of period | 1,324 | 2,498 | 1,324 | |||
Q1 2017 Restructuring Plan [Member] | Facility Closing [Member] | ||||||
Restructuring Reserve [Roll Forward] | ||||||
Balance at beginning of period | 33 | 33 | ||||
Restructuring and contract termination charges, net | 0 | |||||
Restructuring Reserve, Accrual Adjustment | 0 | |||||
Restructuring reserve Settled with Cash and Translation Adjustment | (22) | |||||
Balance at end of period | 11 | 33 | 11 | |||
Previous restructuring and integration plans [Member] | Employee Severance and Facility Closing [Member] | ||||||
Restructuring Reserve [Roll Forward] | ||||||
Balance at beginning of period | 4,399 | 4,399 | ||||
Restructuring and contract termination charges, net | 0 | |||||
Restructuring Reserve, Accrual Adjustment | 353 | |||||
Restructuring reserve Settled with Cash and Translation Adjustment | (2,106) | |||||
Balance at end of period | 2,646 | 4,399 | 2,646 | |||
Diagnostics [Member] | Q3 2018 Restructuring Plan [Member] | Employee Severance [Member] | ||||||
Restructuring Reserve [Roll Forward] | ||||||
Restructuring and contract termination charges, net | 618 | |||||
Diagnostics [Member] | Q3 2018 Restructuring Plan [Member] | Facility Closing [Member] | ||||||
Restructuring Reserve [Roll Forward] | ||||||
Restructuring and contract termination charges, net | 0 | |||||
Diagnostics [Member] | Q1 2018 Restructuring Plan [Member] | Employee Severance [Member] | ||||||
Restructuring Reserve [Roll Forward] | ||||||
Restructuring and contract termination charges, net | 902 | |||||
Diagnostics [Member] | Q1 2018 Restructuring Plan [Member] | Facility Closing [Member] | ||||||
Restructuring Reserve [Roll Forward] | ||||||
Restructuring and contract termination charges, net | 0 | |||||
Diagnostics [Member] | Q4 2017 Restructuring Plan [Member] | Employee Severance [Member] | ||||||
Restructuring Reserve [Roll Forward] | ||||||
Restructuring and contract termination charges, net | 255 | |||||
Diagnostics [Member] | Q4 2017 Restructuring Plan [Member] | Facility Closing [Member] | ||||||
Restructuring Reserve [Roll Forward] | ||||||
Restructuring and contract termination charges, net | 0 | |||||
Diagnostics [Member] | Q3 2017 Restructuring Plan [Member] | Employee Severance [Member] | ||||||
Restructuring Reserve [Roll Forward] | ||||||
Restructuring and contract termination charges, net | 1,021 | |||||
Diagnostics [Member] | Q3 2017 Restructuring Plan [Member] | Facility Closing [Member] | ||||||
Restructuring Reserve [Roll Forward] | ||||||
Restructuring and contract termination charges, net | 0 | |||||
Diagnostics [Member] | Q1 2017 Restructuring Plan [Member] | Employee Severance [Member] | ||||||
Restructuring Reserve [Roll Forward] | ||||||
Restructuring and contract termination charges, net | 1,631 | |||||
Diagnostics [Member] | Q1 2017 Restructuring Plan [Member] | Facility Closing [Member] | ||||||
Restructuring Reserve [Roll Forward] | ||||||
Restructuring and contract termination charges, net | 33 | |||||
Discovery & Analytical Solutions [Member] | Contract Termination [Member] | ||||||
Restructuring Reserve [Roll Forward] | ||||||
Restructuring and contract termination charges, net | 4,744 | $ 4,971 | ||||
Discovery & Analytical Solutions [Member] | Q3 2018 Restructuring Plan [Member] | Employee Severance [Member] | ||||||
Restructuring Reserve [Roll Forward] | ||||||
Restructuring and contract termination charges, net | 1,146 | |||||
Discovery & Analytical Solutions [Member] | Q3 2018 Restructuring Plan [Member] | Facility Closing [Member] | ||||||
Restructuring Reserve [Roll Forward] | ||||||
Restructuring and contract termination charges, net | $ 0 | |||||
Discovery & Analytical Solutions [Member] | Q1 2018 Restructuring Plan [Member] | Employee Severance [Member] | ||||||
Restructuring Reserve [Roll Forward] | ||||||
Restructuring and contract termination charges, net | 5,096 | |||||
Discovery & Analytical Solutions [Member] | Q1 2018 Restructuring Plan [Member] | Facility Closing [Member] | ||||||
Restructuring Reserve [Roll Forward] | ||||||
Restructuring and contract termination charges, net | $ 0 | |||||
Discovery & Analytical Solutions [Member] | Q4 2017 Restructuring Plan [Member] | Employee Severance [Member] | ||||||
Restructuring Reserve [Roll Forward] | ||||||
Restructuring and contract termination charges, net | 1,680 | |||||
Discovery & Analytical Solutions [Member] | Q4 2017 Restructuring Plan [Member] | Facility Closing [Member] | ||||||
Restructuring Reserve [Roll Forward] | ||||||
Restructuring and contract termination charges, net | $ 0 | |||||
Discovery & Analytical Solutions [Member] | Q3 2017 Restructuring Plan [Member] | Employee Severance [Member] | ||||||
Restructuring Reserve [Roll Forward] | ||||||
Restructuring and contract termination charges, net | 1,321 | |||||
Discovery & Analytical Solutions [Member] | Q3 2017 Restructuring Plan [Member] | Facility Closing [Member] | ||||||
Restructuring Reserve [Roll Forward] | ||||||
Restructuring and contract termination charges, net | $ 0 | |||||
Discovery & Analytical Solutions [Member] | Q1 2017 Restructuring Plan [Member] | Employee Severance [Member] | ||||||
Restructuring Reserve [Roll Forward] | ||||||
Restructuring and contract termination charges, net | 5,000 | |||||
Discovery & Analytical Solutions [Member] | Q1 2017 Restructuring Plan [Member] | Facility Closing [Member] | ||||||
Restructuring Reserve [Roll Forward] | ||||||
Restructuring and contract termination charges, net | $ 33 |
Interest and Other Expense (I_3
Interest and Other Expense (Income), Net (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2018 | Oct. 01, 2017 | Sep. 30, 2018 | Oct. 01, 2017 | |
Other Income and Expenses [Abstract] | ||||
Interest income | $ (316) | $ (802) | $ (754) | $ (1,512) |
Interest expense | 16,684 | 10,974 | 50,745 | 32,510 |
Gain on disposition of businesses and assets, net | (13,031) | 0 | (13,031) | 301 |
Other expense, net | (1,176) | (37,188) | (7,013) | (45,096) |
Total interest and other expense, net | 2,161 | (27,016) | 29,947 | (13,797) |
Gain (Loss) on Foreign Currency Derivative Instruments Not Designated as Hedging Instruments | (2,500) | (32,700) | 9,800 | (34,400) |
Foreign Currency Transaction Gain (Loss), before Tax | (4,300) | 2,700 | 8,800 | 5,400 |
Defined Benefit Plan, Other Cost (Credit) | $ (2,500) | $ (1,800) | $ (7,500) | $ (5,400) |
Inventories, Net (Details)
Inventories, Net (Details) - USD ($) $ in Thousands | Sep. 30, 2018 | Dec. 31, 2017 |
Inventory Disclosure [Abstract] | ||
Raw materials | $ 117,266 | $ 122,100 |
Work in progress | 21,389 | 18,452 |
Finished goods | 215,589 | 211,123 |
Total inventories, net | $ 354,244 | $ 351,675 |
Income Taxes (Details)
Income Taxes (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||
Sep. 30, 2018 | Oct. 01, 2017 | Sep. 30, 2018 | Oct. 01, 2017 | Dec. 31, 2017 | |
Income Tax Contingency [Line Items] | |||||
Provision for income taxes | $ 2,596 | $ 8,508 | $ 12,101 | $ 20,495 | |
Unrecognized tax benefits, gross | 30,500 | 30,500 | |||
Uncertain tax benefits if recognized that could affect the continuing operations effective tax rate | 28,800 | 28,800 | |||
Uncertain tax positions including accrued interest, net of tax benefits and penalties, to be resolved within the next year | 6,400 | $ 6,400 | |||
Open Tax Years by Major Tax Jurisdiction, Begin Date | 2,010 | ||||
Tax Adjustments, Settlements, and Unusual Provisions | $ (7,100) | (7,000) | |||
Discontinued Operation, Tax Effect of Discontinued Operation | (1,411) | 5,262 | (1,341) | 42,405 | |
Income Tax Expense (Benefit), Intraperiod Tax Allocation | 1,185 | $ 13,770 | 10,760 | 62,900 | |
Discrete Income Tax Expense (Benefit), Sale of Business | 7,100 | ||||
Excess Income Tax Benefit on Stock Compensation | (5,400) | $ (3,600) | |||
2017 Tax Cuts and Jobs Act [Member] | |||||
Income Tax Contingency [Line Items] | |||||
Tax Adjustments, Settlements, and Unusual Provisions | (1,800) | (300) | $ 21,500 | ||
Income Tax Expense on Repatriated Earnings | $ (5,100) | $ 85,000 | |||
Discrete Income Tax Expense (Benefit), Tax Reform True-up | $ (5,400) |
Debt (Details)
Debt (Details) € in Millions | Apr. 11, 2018USD ($) | Jul. 19, 2016EUR (€) | Oct. 25, 2011USD ($) | Sep. 30, 2018USD ($) | Dec. 30, 2012USD ($) | Sep. 30, 2018EUR (€) | Dec. 31, 2017USD ($) | Dec. 31, 2017EUR (€) |
Other Secured Bank Loan [Member] | ||||||||
Interest rate terms under amended senior unsecured revolving credit facility | The secured bank loan of $0.3 million bears a fixed annual interest rate of 1.95% and is repaid in monthly installments until 2027. | |||||||
Secured Debt | € | € 0.2 | |||||||
Debt Instrument, Interest Rate, Stated Percentage | 1.95% | 1.95% | ||||||
Line of Credit, Maturing August 11, 2021 [Member] | ||||||||
Line of Credit Facility, Maximum Borrowing Capacity | $ 1,000,000,000 | |||||||
Unsecured revolving credit facility, expiry date | Aug. 11, 2021 | |||||||
Letters of credit issued and outstanding | $ 11,400,000 | |||||||
Line of Credit Facility, Remaining Borrowing Capacity | 577,600,000 | |||||||
Aggregate borrowings under the amended facility | 411,000,000 | $ 625,000,000 | ||||||
Unamortized Debt Issuance Expense | $ 2,600,000 | 3,300,000 | ||||||
Term Loan Credit Facility, 12 Months Maturity [Member] | ||||||||
Interest rate terms under amended senior unsecured revolving credit facility | The interest rates under the senior unsecured term loan credit facility were based on the Eurocurrency rate or the base rate at the time of the borrowing, plus a margin. The base rate is the higher of (i) the rate of interest in effect for such day as publicly announced from time to time by JP Morgan Chase Bank, N.A. as its "prime rate," (ii) the Federal Funds rate plus 50 basis points or (iii) an adjusted one-month Libor plus 1.00%. | |||||||
Term Loan Credit Facility, Maximum Borrowing Capacity | $ 200,000,000 | |||||||
Short-term Debt, Terms | twelve months | |||||||
Short-term Debt, Maximum Amount Outstanding During Period | $ 200,000,000 | |||||||
2021 Notes [Member] | ||||||||
Interest rate terms under amended senior unsecured revolving credit facility | Interest on the November 2021 Notes is payable semi-annually on May 15th and November 15th each year. Prior to August 15, 2021 (three months prior to their maturity date), the Company may redeem the November 2021 Notes in whole or in part, at its option, at a redemption price equal to the greater of (i) 100% of the principal amount of the November 2021 Notes to be redeemed, plus accrued and unpaid interest, or (ii) the sum of the present values of the remaining scheduled payments of principal and interest in respect to the November 2021 Notes being redeemed, discounted on a semi-annual basis, at the Treasury Rate plus 45 basis points, plus accrued and unpaid interest. | |||||||
Debt Instrument, Interest Rate, Stated Percentage | 5.00% | |||||||
Unsecured senior notes, face value | $ 500,000,000 | |||||||
Gross proceeds from the issuance of debt instrument | $ 493,600,000 | |||||||
Senior unsecured notes issuance as percentage of principal amount | 99.372% | |||||||
Debt Instrument, Unamortized Discount | $ 3,100,000 | $ 1,200,000 | 1,400,000 | |||||
Debt instrument maturity date | Nov. 25, 2021 | |||||||
Percentage of redemption of senior notes on or after August 15, 2021 | 100.00% | |||||||
Percentage of redemption upon a change of control and a contemporaneous downgrade of the Notes | 101.00% | |||||||
Unamortized Debt Issuance Expense | $ 1,700,000 | 2,000,000 | ||||||
2021 Notes [Member] | Treasury Rate [Member] | ||||||||
Basis spread on variable rate | 0.45% | |||||||
Financing Lease Obligations [Member] | ||||||||
Initial Fair Value of Other Long-term Debt Related to Financing Lease Obligations | $ 29,300,000 | |||||||
Additional Financing Lease Obligations, funded by lessors | $ 11,500,000 | |||||||
Other Long-term Debt, Current | $ 1,500,000 | 1,400,000 | ||||||
Other Long-term Debt, Noncurrent | 33,400,000 | 34,500,000 | ||||||
1.875 Percent Ten Year Senior Unsecured Notes [Member] | ||||||||
Debt Instrument, Interest Rate, Stated Percentage | 1.875% | |||||||
Unsecured senior notes, face value | € | € 500 | |||||||
Gross proceeds from the issuance of debt instrument | € | € 492.3 | |||||||
Senior unsecured notes issuance as percentage of principal amount | 99.118% | |||||||
Debt Instrument, Unamortized Discount | € 4.4 | 4,200,000 | 4,700,000 | |||||
Debt instrument maturity date | Jul. 19, 2026 | |||||||
Percentage of redemption upon a change of control and a contemporaneous downgrade of the Notes | 101.00% | |||||||
Unamortized Debt Issuance Expense | $ 3,900,000 | 4,300,000 | ||||||
0.6 Percent Senior Unsecured Notes due in April 2021 [Member] | ||||||||
Interest rate terms under amended senior unsecured revolving credit facility | Interest on the April 2021 Notes is payable annually on April 9th each year. | |||||||
Debt Instrument, Interest Rate, Stated Percentage | 0.60% | |||||||
Unsecured senior notes, face value | $ 300,000,000 | |||||||
Gross proceeds from the issuance of debt instrument | $ 298,700,000 | |||||||
Senior unsecured notes issuance as percentage of principal amount | 99.95% | |||||||
Debt Instrument, Unamortized Discount | $ 200,000 | $ 200,000 | ||||||
Debt instrument maturity date | Apr. 9, 2021 | |||||||
Percentage of redemption upon a change of control and a contemporaneous downgrade of the Notes | 101.00% | |||||||
Unamortized Debt Issuance Expense | $ 2,300,000 | |||||||
0.6 Percent Senior Unsecured Notes due in April 2021 [Member] | Treasury Rate [Member] | ||||||||
Basis spread on variable rate | 0.15% | |||||||
Other Debt Facilities - EUROIMMUN [Member] | ||||||||
Interest rate terms under amended senior unsecured revolving credit facility | Of these bank loans, loans in the aggregate amount of $35.1 million bear fixed interest rates between 1.1% and 5.5% and a loan in the amount of $0.2 million bears a variable interest rate based on the Euribor rate plus a margin of 1.5%. | |||||||
Long-term Debt, Percentage Bearing Variable Interest, Amount | € | € 0.2 | |||||||
Long-term Debt, Percentage Bearing Fixed Interest, Amount | € | 43.3 | |||||||
Other Debt Facilities - EUROIMMUN [Member] | Euribor Rate [Member] | ||||||||
Basis spread on variable rate | 1.50% | |||||||
Other Unsecured Revolving Debt Facilities [Member] | ||||||||
Other Unsecured Revolving Credit Facilities | $ 8,100,000 | |||||||
Interest rate terms under amended senior unsecured revolving credit facility | The unsecured revolving debt facilities bear fixed interest rates between 0.05% and 2.30% and will mature in 2018. | |||||||
Unsecured Revolving Credit Facility [Member] | Base Rate Option Two [Member] | ||||||||
Description of variable rate basis | Federal Funds | |||||||
Unsecured Revolving Credit Facility [Member] | Eurocurrency Rate [Member] | ||||||||
Description of variable rate basis | Eurocurrency | |||||||
Unsecured Revolving Credit Facility [Member] | Line of Credit, Maturing August 11, 2021 [Member] | ||||||||
Interest rate terms under amended senior unsecured revolving credit facility | The interest rates under the senior unsecured revolving credit facility are based on the Eurocurrency rate or the base rate at the time of borrowing, plus a margin. The base rate is the higher of (i) the rate of interest in effect for such day as publicly announced from time to time by JP Morgan Chase Bank, N.A. as its "prime rate," (ii) the Federal Funds rate plus 50 basis points or (iii) an adjusted one-month Libor plus 1.00%. The Eurocurrency margin as of September 30, 2018 was 110 basis points. | |||||||
Weighted average interest rates under amended senior unsecured revolving credit facility | The weighted average Eurocurrency interest rate as of September 30, 2018 was 2.19%, resulting in a weighted average effective Eurocurrency rate, including the margin, of 3.29%, | |||||||
Unsecured Revolving Credit Facility [Member] | Line of Credit, Maturing August 11, 2021 [Member] | Base Rate Option Two [Member] | ||||||||
Basis spread on variable rate | 0.50% | |||||||
Unsecured Revolving Credit Facility [Member] | Line of Credit, Maturing August 11, 2021 [Member] | Base Rate Option Three [Member] | ||||||||
Basis spread on variable rate | 1.00% | |||||||
Unsecured Revolving Credit Facility [Member] | Line of Credit, Maturing August 11, 2021 [Member] | Eurocurrency Rate [Member] | ||||||||
Basis spread on variable rate | 1.10% | |||||||
United States of America, Dollars | Other Debt Facilities - EUROIMMUN [Member] | ||||||||
Unsecured Debt | € | 29.9 | |||||||
Secured Debt | € | 5.4 | |||||||
Other Long-term Debt | € | 35.3 | € 57.2 | ||||||
Long-term Debt, Percentage Bearing Fixed Interest, Amount | € | 35.1 | |||||||
Euro Member Countries, Euro | Other Debt Facilities - EUROIMMUN [Member] | ||||||||
Other Long-term Debt | € | € 30.4 | 47.6 | ||||||
Minimum [Member] | Other Debt Facilities - EUROIMMUN [Member] | ||||||||
Debt Instrument, Interest Rate, Stated Percentage | 0.10% | 0.10% | ||||||
Minimum [Member] | Other Unsecured Revolving Debt Facilities [Member] | ||||||||
Debt Instrument, Interest Rate, Stated Percentage | 0.05% | 0.05% | ||||||
Minimum [Member] | United States of America, Dollars | Other Debt Facilities - EUROIMMUN [Member] | ||||||||
Debt Instrument, Interest Rate, Stated Percentage | 1.10% | 1.10% | ||||||
Maximum [Member] | Other Debt Facilities - EUROIMMUN [Member] | ||||||||
Debt Instrument, Interest Rate, Stated Percentage | 5.50% | 5.50% | ||||||
Maximum [Member] | Other Unsecured Revolving Debt Facilities [Member] | ||||||||
Debt Instrument, Interest Rate, Stated Percentage | 2.30% | 2.30% | ||||||
Maximum [Member] | United States of America, Dollars | Other Debt Facilities - EUROIMMUN [Member] | ||||||||
Debt Instrument, Interest Rate, Stated Percentage | 5.50% | 5.50% | ||||||
Significant Other Observable Inputs (Level 2) [Member] | Line of Credit, Maturing August 11, 2021 [Member] | ||||||||
Long-term Debt | $ 408,400,000 | 621,700,000 | ||||||
Significant Other Observable Inputs (Level 2) [Member] | 2021 Notes [Member] | ||||||||
Long-term Debt | 497,200,000 | 496,600,000 | ||||||
Significant Other Observable Inputs (Level 2) [Member] | Financing Lease Obligations [Member] | ||||||||
Other Long-term Debt | 34,900,000 | 35,900,000 | ||||||
Significant Other Observable Inputs (Level 2) [Member] | 1.875 Percent Ten Year Senior Unsecured Notes [Member] | ||||||||
Long-term Debt | 572,300,000 | $ 591,700,000 | ||||||
Significant Other Observable Inputs (Level 2) [Member] | 0.6 Percent Senior Unsecured Notes due in April 2021 [Member] | ||||||||
Long-term Debt | $ 345,800,000 | |||||||
Significant Other Observable Inputs (Level 2) [Member] | Other Debt Facilities - EUROIMMUN [Member] | ||||||||
Other Long-term Debt | € | € 43.5 | € 60.2 |
Earnings Per Share (Schedule of
Earnings Per Share (Schedule of Reconciliation of Number of Shares Utilized in Earnings Per Share Calculations) (Details) - shares shares in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2018 | Oct. 01, 2017 | Sep. 30, 2018 | Oct. 01, 2017 | |
Earnings Per Share [Abstract] | ||||
Number of common shares-basic | 110,724 | 110,003 | 110,499 | 109,788 |
Effect of dilutive securities, Stock options | 791 | 735 | 813 | 669 |
Effect of dilutive securities, Restricted stock | 232 | 255 | 198 | 196 |
Number of common shares-diluted | 111,747 | 110,993 | 111,510 | 110,653 |
Number of potentially dilutive securities excluded from calculation due to antidilutive impact | 358 | 14 | 346 | 377 |
Industry Segment Information In
Industry Segment Information Industry Segment Information Narrative (Details) | 9 Months Ended |
Sep. 30, 2018segments | |
Segment Reporting Information [Line Items] | |
Number of Operating Segment | 2 |
Industry Segment Information (S
Industry Segment Information (Schedule of Sales and Operating Income by Operating Segment, Excluding Discontinued Operations) (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2018 | Oct. 01, 2017 | Sep. 30, 2018 | Oct. 01, 2017 | |
Segment Reporting Information [Line Items] | ||||
Revenue from Contract with Customer, Excluding Assessed Tax | $ 674,313 | $ 554,275 | $ 2,021,647 | $ 1,615,352 |
Operating income (loss) from continuing operations | 80,202 | 78,038 | 208,201 | 202,032 |
Interest and other expense, net | 2,161 | (27,016) | 29,947 | (13,797) |
Income from continuing operations before income taxes | 78,041 | 105,054 | 178,254 | 215,829 |
Corporate [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Operating income (loss) from continuing operations | (15,590) | (12,581) | (45,627) | (39,596) |
Diagnostics [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Revenue from Contract with Customer, Excluding Assessed Tax | 268,147 | 168,893 | 788,328 | 485,082 |
Operating income (loss) from continuing operations | 47,411 | 43,361 | 104,585 | 113,024 |
Discovery & Analytical Solutions [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Revenue from Contract with Customer, Excluding Assessed Tax | 406,166 | 385,382 | 1,233,319 | 1,130,270 |
Operating income (loss) from continuing operations | 48,381 | 47,258 | 149,243 | 128,604 |
Product [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Revenue from Contract with Customer, Excluding Assessed Tax | 474,523 | 354,819 | 1,417,739 | 1,043,534 |
Product [Member] | Diagnostics [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Revenue from Contract with Customer, Excluding Assessed Tax | 227,273 | 132,201 | 669,469 | 378,466 |
Product [Member] | Discovery & Analytical Solutions [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Revenue from Contract with Customer, Excluding Assessed Tax | 247,250 | 222,618 | 748,270 | 665,068 |
Service [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Revenue from Contract with Customer, Excluding Assessed Tax | 199,790 | 199,456 | 603,908 | 571,818 |
Service [Member] | Diagnostics [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Revenue from Contract with Customer, Excluding Assessed Tax | 40,874 | 36,692 | 118,859 | 106,616 |
Service [Member] | Discovery & Analytical Solutions [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Revenue from Contract with Customer, Excluding Assessed Tax | $ 158,916 | $ 162,764 | $ 485,049 | $ 465,202 |
Stockholders' Equity (Narrative
Stockholders' Equity (Narrative) (Details) - USD ($) $ / shares in Units, $ in Millions | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||||||||
Mar. 31, 2019 | Dec. 30, 2018 | Sep. 30, 2018 | Jul. 01, 2018 | Apr. 01, 2018 | Dec. 31, 2017 | Oct. 01, 2017 | Sep. 30, 2018 | Dec. 30, 2018 | Jul. 23, 2018 | Jul. 27, 2016 | |
Schedule of Shareholders' Equity [Line Items] | |||||||||||
Stock repurchase program, number of shares authorized to be repurchased | 8,000,000 | ||||||||||
Stock repurchase program, number of shares remained available for repurchase | 250,000,000 | 250,000,000 | |||||||||
Stock Repurchase Program, Authorized Amount | $ 250 | ||||||||||
Repurchased Common Shares For Activity Pursuant to Equity Incentive Plans | 3,807 | 63,506 | |||||||||
Aggregate Cost of Repurchased Common Shares for Activity Pursuant to Equity Incentive Plans | $ 0.3 | $ 5 | |||||||||
Cash dividends (per share) | $ 0.07 | $ 0.07 | $ 0.07 | $ 0.07 | $ 0.07 | ||||||
Dividends Payable, Amount | $ 7.8 | $ 7.8 | |||||||||
Dividends Payable, Date Declared | Jul. 23, 2018 | ||||||||||
Dividends Payable, Date to be Paid | Nov. 9, 2018 | ||||||||||
Subsequent Event [Member] | |||||||||||
Schedule of Shareholders' Equity [Line Items] | |||||||||||
Cash dividends (per share) | $ 0.07 | ||||||||||
Dividends Payable, Date Declared | Oct. 24, 2018 | ||||||||||
Dividends Payable, Date to be Paid | Feb. 8, 2019 |
Stockholders' Equity (Component
Stockholders' Equity (Components Of Accumulated Other Comprehensive Loss) (Details) - USD ($) $ in Thousands | Sep. 30, 2018 | Dec. 31, 2017 |
Stockholders' Equity Note [Abstract] | ||
Foreign currency translation adjustments, net of income taxes | $ (160,780) | $ (46,582) |
Unrecognized losses and prior service costs, net of income taxes | 322 | 322 |
Unrealized net losses on securities, net of income taxes | (190) | (258) |
Accumulated other comprehensive loss | $ (160,648) | $ (46,518) |
Stock Plans (Narrative) (Detail
Stock Plans (Narrative) (Details) $ / shares in Units, $ in Thousands | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2018USD ($)$ / sharesshares | Oct. 01, 2017USD ($)$ / shares | Sep. 30, 2018USD ($)plan$ / sharesshares | Oct. 01, 2017USD ($)$ / sharesshares | Dec. 31, 2017shares | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Number of Former Stock-based Compensation Plans | plan | 1 | ||||
Total income tax benefit recognized for stock-based compensation | $ 6,100 | $ 1,900 | $ 10,600 | $ 9,900 | |
Stock-based compensation costs capitalized as part of inventory | 400 | ||||
Proceeds from issuance of common stock under stock plans | 19,484 | 14,004 | |||
Share-based Compensation | $ 11,127 | $ 4,412 | $ 23,275 | $ 16,179 | |
Stock Options [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Weighted-average grant-date fair value of options | $ / shares | $ 18.65 | $ 14.32 | $ 17.56 | $ 11.79 | |
Total intrinsic value of options exercised | $ 18,900 | $ 700 | $ 25,300 | $ 12,800 | |
Proceeds from issuance of common stock under stock plans | 19,500 | 14,000 | |||
Total pre-tax stock-based compensation expense | 1,400 | 1,100 | 4,000 | 3,500 | |
Total unrecognized compensation cost, net of estimated forfeitures, related to nonvested stock, granted | 8,000 | $ 8,000 | |||
Weighted-average period for recognition of unrecognized compensation cost, years | 2 years | ||||
Restricted Stock Awards [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Total pre-tax stock-based compensation expense | 3,000 | 2,300 | $ 8,700 | 7,800 | |
Total unrecognized compensation cost, net of estimated forfeitures, related to nonvested stock, granted | $ 18,900 | $ 18,900 | |||
Weighted-average period for recognition of unrecognized compensation cost, years | 1 year 6 months 9 days | ||||
Awards/units outstanding | shares | 470,000 | 470,000 | 496,000 | ||
Number of Shares, Granted | shares | 206,000 | ||||
Weighted-average grant-date fair value of stock granted (per share) | $ / shares | $ 75.78 | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Forfeited in Period | shares | 32,000 | ||||
Fair value of restricted stock awards vested | $ 1,100 | 500 | $ 10,000 | 9,800 | |
Performance Units [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Total pre-tax stock-based compensation expense | $ 5,300 | 800 | $ 7,600 | 3,600 | |
Awards/units outstanding | shares | 201,762 | 201,762 | |||
Number of Shares, Granted | shares | 37,281 | ||||
Weighted-average grant-date fair value of stock granted (per share) | $ / shares | $ 73.23 | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Forfeited in Period | shares | 0 | ||||
Deferred Compensation Share-based Arrangements, Liability, Current and Noncurrent | $ 13,900 | $ 13,900 | |||
Stock Awards [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Total pre-tax stock-based compensation expense | $ 800 | $ 700 | |||
Number of Shares, Granted | shares | 1,386 | ||||
Weighted-average grant-date fair value of stock granted (per share) | $ / shares | $ 72.17 | ||||
Employee Stock Purchase Plan [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Shares authorized under plan | shares | 5,000,000 | 5,000,000 | |||
Number of Shares, Granted | shares | 21,321 | 18,483 | |||
Weighted-average grant-date fair value of stock granted (per share) | $ / shares | $ 69.57 | $ 64.73 | |||
Shares available for grant under employee stock purchase plan | shares | 800,000 | 800,000 | |||
Performance Restricted Stock Units [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Total pre-tax stock-based compensation expense | $ 1,300 | $ 200 | $ 2,200 | $ 600 | |
Awards/units outstanding | shares | 87,673 | 87,673 | |||
Number of Shares, Granted | shares | 39,133 | ||||
Weighted-average grant-date fair value of stock granted (per share) | $ / shares | $ 80.31 | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Forfeited in Period | shares | 5,797 | ||||
2009 Incentive Plan [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Shares authorized under plan | shares | 10,000,000 | 10,000,000 |
Stock Plans (Summary of Total C
Stock Plans (Summary of Total Compensation Recognized Related to Outstanding Stock Options) (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2018 | Oct. 01, 2017 | Sep. 30, 2018 | Oct. 01, 2017 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Share-based Compensation | $ 11,127 | $ 4,412 | $ 23,275 | $ 16,179 |
Cost of sales [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Total pre-tax stock-based compensation expense | 430 | 357 | 1,093 | 898 |
Research and development expenses [Member ] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Total pre-tax stock-based compensation expense | 335 | 373 | 1,029 | 1,077 |
Selling, general and administrative and other expenses [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Total pre-tax stock-based compensation expense | $ 10,362 | $ 3,682 | $ 21,153 | $ 14,204 |
Stock Plans (Weighted-Average A
Stock Plans (Weighted-Average Assumptions Used in the Black-Scholes Option Pricing Model) (Details) | 9 Months Ended | |
Sep. 30, 2018 | Oct. 01, 2017 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ||
Risk-free interest rate | 2.90% | 1.50% |
Expected dividend yield | 0.40% | 0.40% |
Expected lives, years | 5 years | 5 years |
Expected stock volatility | 20.70% | 22.40% |
Stock Plans (Summary of Stock O
Stock Plans (Summary of Stock Option Activity) (Details) $ / shares in Units, shares in Thousands, $ in Millions | 9 Months Ended |
Sep. 30, 2018USD ($)$ / sharesshares | |
Stock option activity | |
Number of Shares, Outstanding at beginning of period | shares | 2,154 |
Number of Shares, Granted | shares | 363 |
Number of Shares, Exercised | shares | (554) |
Number of Shares, Forfeited | shares | (43) |
Number of Shares, Outstanding at end of period | shares | 1,920 |
Number of Shares, Exercisable at end of period | shares | 1,113 |
Weighted-Average Price, Outstanding at beginning of period | $ / shares | $ 42.77 |
Weighted-Average Price, Granted | $ / shares | 77.81 |
Weighted-Average Price, Exercised | $ / shares | 35.19 |
Weighted-Average Price, Forfeited | $ / shares | 51.62 |
Weighted-Average Price, Outstanding at end of period | $ / shares | 51.38 |
Weighted-Average Price, Exercisable at end of period | $ / shares | $ 43.10 |
Weighted-Average Remaining Contractual Term in Years, Outstanding at end of period | 4 years 4 months |
Weighted-Average Remaining Contractual Term in Years, Exercisable at end of period | 3 years 2 months |
Total Intrinsic Value, Outstanding at end of period | $ | $ 88.1 |
Total Intrinsic Value, Exercisable at end of period | $ | $ 60.3 |
Stock Plans (Summary of Restric
Stock Plans (Summary of Restricted Stock Award Activity) (Details) - Restricted Stock Awards [Member] shares in Thousands | 9 Months Ended |
Sep. 30, 2018$ / sharesshares | |
Restricted stock award activity | |
Number of Shares, Nonvested at beginning of period | shares | 496 |
Number of Shares, Granted | shares | 206 |
Number of Shares, Vested | shares | (200) |
Number of Shares, Forfeited | shares | (32) |
Number of Shares, Nonvested at end of period | shares | 470 |
Weighted-Average Grant-Date Fair Value, Nonvested at beginning of period | $ / shares | $ 50.30 |
Weighted-Average Grant-Date Fair Value, Granted | $ / shares | 75.78 |
Weighted-Average Grant-Date Fair Value, Vested | $ / shares | 50.18 |
Weighted-Average Grant-Date Fair Value, Forfeited | $ / shares | 53.67 |
Weighted-Average Grant-Date Fair Value, Nonvested at end of period | $ / shares | $ 61.38 |
Goodwill and Intangible Asset_3
Goodwill and Intangible Assets, Net (Narrative) (Details) - USD ($) $ in Thousands | Jan. 01, 2018 | Sep. 30, 2018 | Oct. 01, 2017 | Sep. 30, 2018 | Oct. 01, 2017 | Dec. 31, 2017 |
Goodwill and Intangible Assets Net [Line Items] | ||||||
Reporting Unit, Percentage of Fair Value in Excess of Carrying Amount | 20.00% | |||||
Change in any one of the input assumptions for the various reporting units | 10.00% | |||||
Goodwill | $ 2,920,689 | $ 2,920,689 | $ 3,002,198 | |||
Total amortization expense related to finite-lived intangible assets | 35,300 | $ 17,700 | 100,700 | $ 52,300 | ||
Future Amortization Expense, Year One | 37,600 | 37,600 | ||||
Future Amortization Expense, Year Two | 148,300 | 148,300 | ||||
Future Amortization Expense, Year Three | 150,400 | 150,400 | ||||
Future Amortization Expense, Year Four | 135,200 | 135,200 | ||||
Future Amortization Expense, Year Five | 123,800 | 123,800 | ||||
Finite-Lived Intangible Assets, Net | 1,153,191 | 1,153,191 | 1,276,356 | |||
Intangible assets, net | 1,223,775 | 1,223,775 | 1,346,940 | |||
Minimum [Member] | ||||||
Goodwill and Intangible Assets Net [Line Items] | ||||||
Long-term terminal growth rates for reporting units | 3.00% | |||||
Discount rates for reporting units | 9.00% | |||||
Maximum [Member] | ||||||
Goodwill and Intangible Assets Net [Line Items] | ||||||
Long-term terminal growth rates for reporting units | 5.00% | |||||
Discount rates for reporting units | 15.00% | |||||
Patents [Member] | ||||||
Goodwill and Intangible Assets Net [Line Items] | ||||||
Gross amortizable intangible assets | 42,951 | 42,951 | 39,959 | |||
Less: Accumulated amortization | 37,046 | 37,046 | 35,085 | |||
Finite-Lived Intangible Assets, Net | 5,905 | 5,905 | 4,874 | |||
Trade Names And Trademarks [Member] | ||||||
Goodwill and Intangible Assets Net [Line Items] | ||||||
Gross amortizable intangible assets | 78,628 | 78,628 | 80,974 | |||
Less: Accumulated amortization | 32,251 | 32,251 | 28,250 | |||
Finite-Lived Intangible Assets, Net | 46,377 | 46,377 | 52,724 | |||
Licensing Agreements [Member] | ||||||
Goodwill and Intangible Assets Net [Line Items] | ||||||
Gross amortizable intangible assets | 52,261 | 52,261 | 53,300 | |||
Less: Accumulated amortization | 44,889 | 44,889 | 42,635 | |||
Finite-Lived Intangible Assets, Net | 7,372 | 7,372 | 10,665 | |||
Core Technology [Member] | ||||||
Goodwill and Intangible Assets Net [Line Items] | ||||||
Gross amortizable intangible assets | 476,403 | 476,403 | 471,740 | |||
Less: Accumulated amortization | 272,475 | 272,475 | 244,916 | |||
Finite-Lived Intangible Assets, Net | 203,928 | 203,928 | 226,824 | |||
Customer Relationships [Member] | ||||||
Goodwill and Intangible Assets Net [Line Items] | ||||||
Gross amortizable intangible assets | 1,108,220 | 1,108,220 | 1,141,511 | |||
Less: Accumulated amortization | 290,616 | 290,616 | 242,840 | |||
Finite-Lived Intangible Assets, Net | 817,604 | 817,604 | 898,671 | |||
In-process Research and Development [Member] | ||||||
Goodwill and Intangible Assets Net [Line Items] | ||||||
Gross amortizable intangible assets | 81,813 | 81,813 | 88,025 | |||
Less: Accumulated amortization | 9,808 | 9,808 | 5,427 | |||
Finite-Lived Intangible Assets, Net | $ 72,005 | $ 72,005 | 82,598 | |||
Informatics [Member] | ||||||
Goodwill and Intangible Assets Net [Line Items] | ||||||
Goodwill | $ 217,200 | |||||
Medical Imaging Business [Member] | ||||||
Goodwill and Intangible Assets Net [Line Items] | ||||||
Disposal Group, Including Discontinued Operation, Consideration | $ 277,400 |
Goodwill and Intangible Asset_4
Goodwill and Intangible Assets, Net (Changes in the Carrying Amount of Goodwill) (Details) $ in Thousands | 9 Months Ended |
Sep. 30, 2018USD ($) | |
Changes in the carrying amount of goodwill | |
Balance at beginning of period | $ 3,002,198 |
Foreign currency translation | (57,780) |
Goodwill, Acquisition, Earn Outs and Other Adjustments | (23,729) |
Balance at end of period | 2,920,689 |
Diagnostics [Member] | |
Changes in the carrying amount of goodwill | |
Balance at beginning of period | 1,657,963 |
Foreign currency translation | (31,613) |
Goodwill, Acquisition, Earn Outs and Other Adjustments | (15,749) |
Balance at end of period | 1,610,601 |
Discovery & Analytical Solutions [Member] | |
Changes in the carrying amount of goodwill | |
Balance at beginning of period | 1,344,235 |
Foreign currency translation | (26,167) |
Goodwill, Acquisition, Earn Outs and Other Adjustments | (7,980) |
Balance at end of period | $ 1,310,088 |
Goodwill and Intangible Asset_5
Goodwill and Intangible Assets, Net (Identifiable Intangible Asset Balances) (Details) - USD ($) $ in Thousands | Sep. 30, 2018 | Dec. 31, 2017 |
Finite and Indefinite Lived Intangible Assets by Major Class [Line Items] | ||
Net amortizable intangible assets | $ 1,153,191 | $ 1,276,356 |
Intangible assets, net | 1,223,775 | 1,346,940 |
Patents [Member] | ||
Finite and Indefinite Lived Intangible Assets by Major Class [Line Items] | ||
Gross amortizable intangible assets | 42,951 | 39,959 |
Less: Accumulated amortization | (37,046) | (35,085) |
Net amortizable intangible assets | 5,905 | 4,874 |
Trade Names And Trademarks [Member] | ||
Finite and Indefinite Lived Intangible Assets by Major Class [Line Items] | ||
Gross amortizable intangible assets | 78,628 | 80,974 |
Less: Accumulated amortization | (32,251) | (28,250) |
Net amortizable intangible assets | 46,377 | 52,724 |
Trade names and trademarks | 70,584 | 70,584 |
Licensing Agreements [Member] | ||
Finite and Indefinite Lived Intangible Assets by Major Class [Line Items] | ||
Gross amortizable intangible assets | 52,261 | 53,300 |
Less: Accumulated amortization | (44,889) | (42,635) |
Net amortizable intangible assets | 7,372 | 10,665 |
Core Technology [Member] | ||
Finite and Indefinite Lived Intangible Assets by Major Class [Line Items] | ||
Gross amortizable intangible assets | 476,403 | 471,740 |
Less: Accumulated amortization | (272,475) | (244,916) |
Net amortizable intangible assets | 203,928 | 226,824 |
Customer Relationships [Member] | ||
Finite and Indefinite Lived Intangible Assets by Major Class [Line Items] | ||
Gross amortizable intangible assets | 1,108,220 | 1,141,511 |
Less: Accumulated amortization | (290,616) | (242,840) |
Net amortizable intangible assets | 817,604 | 898,671 |
In-process Research and Development [Member] | ||
Finite and Indefinite Lived Intangible Assets by Major Class [Line Items] | ||
Gross amortizable intangible assets | 81,813 | 88,025 |
Less: Accumulated amortization | (9,808) | (5,427) |
Net amortizable intangible assets | $ 72,005 | $ 82,598 |
Warranty Reserves (Details)
Warranty Reserves (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2018 | Oct. 01, 2017 | Sep. 30, 2018 | Oct. 01, 2017 | |
Warranty reserve activity | ||||
Balance beginning of period | $ 8,943 | $ 9,088 | $ 9,050 | $ 9,012 |
Provision charged to income | 3,327 | 3,326 | 10,012 | 9,706 |
Payments | (3,547) | (3,488) | (10,514) | (10,625) |
Adjustments to previously provided warranties, net | (226) | (730) | 110 | (215) |
Foreign currency translation and acquisitions | (49) | 117 | (210) | 435 |
Balance end of period | $ 8,448 | $ 8,313 | $ 8,448 | $ 8,313 |
Employee Benefit Plans (Compone
Employee Benefit Plans (Components of Net Periodic Benefit Cost (Credit)) (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2018 | Oct. 01, 2017 | Sep. 30, 2018 | Oct. 01, 2017 | |
Defined Benefit Pension Benefits [Member] | ||||
Components of net periodic benefit cost (credit) | ||||
Service cost | $ 1,712 | $ 1,231 | $ 5,180 | $ 3,667 |
Interest cost | 4,051 | 4,160 | 12,212 | 12,420 |
Expected return on plan assets | (7,270) | (6,568) | (21,926) | (19,609) |
Amortization of prior service | (41) | (49) | (123) | (144) |
Net periodic benefit cost (credit) | (1,548) | (1,226) | (4,657) | (3,666) |
Postretirement Medical Benefits [Member] | ||||
Components of net periodic benefit cost (credit) | ||||
Service cost | 27 | 23 | 80 | 69 |
Interest cost | 30 | 32 | 90 | 94 |
Expected return on plan assets | (314) | (279) | (941) | (836) |
Amortization of prior service | 0 | 0 | 0 | 0 |
Net periodic benefit cost (credit) | $ (257) | $ (224) | (771) | (673) |
UNITED STATES | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Defined Benefit Plan, Plan Assets, Contributions by Employer | 15,000 | |||
Foreign Plan [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Defined Benefit Plan, Plan Assets, Contributions by Employer | $ 6,400 | $ 6,200 |
Derivatives And Hedging Activ_2
Derivatives And Hedging Activities (Details) $ in Thousands, € in Millions | Apr. 11, 2018USD ($) | Sep. 30, 2018USD ($) | Apr. 01, 2018USD ($) | Oct. 01, 2017USD ($) | Sep. 30, 2018USD ($) | Oct. 01, 2017USD ($) | Sep. 30, 2018EUR (€) | Apr. 27, 2018EUR (€) | Dec. 31, 2017USD ($) | Dec. 31, 2017EUR (€) | Oct. 01, 2017EUR (€) |
Derivative [Line Items] | |||||||||||
Company's business conducted outside United States | 70.00% | ||||||||||
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Reclassification Adjustment from AOCI, Realized upon Sale or Liquidation, before Tax | $ 2,600 | ||||||||||
Payments for Hedge, Financing Activities | 30,285 | ||||||||||
Payments for (Proceeds from) Hedge, Financing Activities | 30,285 | $ 11,539 | |||||||||
Interest Rate Cash Flow Hedge Gain (Loss) to be Reclassified During Next 12 Months, Net | $ 0 | 0 | |||||||||
Foreign Currency Transaction Gain (Loss), before Tax | (4,300) | $ 2,700 | $ 8,800 | 5,400 | |||||||
European And Asian Currencies [Member] | |||||||||||
Derivative [Line Items] | |||||||||||
Maximum maturity period for foreign exchange contracts, in months | 12 months | ||||||||||
Duration Of Foreign Currency Derivatives | 30 days | ||||||||||
Fair Value Hedging [Member] | |||||||||||
Derivative [Line Items] | |||||||||||
Notional Amount of Cash Flow Hedge Instruments | 180,400 | 140,000 | $ 180,400 | 140,000 | $ 212,100 | ||||||
Notional Amount of Euro Derivatives [Member] | |||||||||||
Derivative [Line Items] | |||||||||||
Notional Amount of Cash Flow Hedge Instruments | € | € 48.7 | € 298.7 | € 57.2 | € 19 | |||||||
Notional Amount of US Dollar Derivatives [Member] | Cash Flow Hedging [Member] | |||||||||||
Derivative [Line Items] | |||||||||||
Notional Amount of Cash Flow Hedge Instruments | 28,000 | $ 12,300 | 28,000 | $ 12,300 | $ 1,253,000 | ||||||
Net Investment Hedging [Member] | 1.875 Percent Ten Year Senior Unsecured Notes [Member] | |||||||||||
Derivative [Line Items] | |||||||||||
Notional Amount of Nonderivative Instruments | 135,100 | ||||||||||
Unrealized Gain (Loss) on Net Investment Hedge in AOCI | (800) | $ (2,100) | (7,700) | ||||||||
Net Investment Hedging [Member] | 0.6 Percent Senior Unsecured Notes due in April 2021 [Member] | |||||||||||
Derivative [Line Items] | |||||||||||
Notional Amount of Nonderivative Instruments | $ 298,700 | 298,700 | |||||||||
Unrealized Gain (Loss) on Net Investment Hedge in AOCI | $ (1,800) | $ (22,600) |
Fair Value Measurements (Narrat
Fair Value Measurements (Narrative) (Details) $ in Thousands, € in Millions | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||||||||||
Sep. 30, 2018USD ($) | Sep. 30, 2018USD ($) | Oct. 01, 2017USD ($) | Jan. 03, 2016USD ($) | Sep. 30, 2018EUR (€) | Jul. 01, 2018USD ($) | Apr. 11, 2018USD ($) | Dec. 31, 2017USD ($) | Dec. 31, 2017EUR (€) | Jul. 02, 2017USD ($) | Jan. 01, 2017USD ($) | Jul. 19, 2016EUR (€) | Oct. 25, 2011USD ($) | |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||||||||||||
Business Combination, Contingent Consideration Arrangements, Range of Outcomes, Value, High | $ 76,500 | $ 76,500 | |||||||||||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability Value | 67,126 | $ 67,126 | $ 64,727 | $ 74,093 | $ 65,328 | $ 64,076 | $ 63,201 | ||||||
Business Combination, Contingent Consideration Arrangements, Description | Contingent consideration is measured at fair value at the acquisition date, based on the probability that revenue thresholds or product development milestones will be achieved during the earnout period, with changes in the fair value after the acquisition date affecting earnings to the extent it is to be settled in cash. | ||||||||||||
Business Combination, Contingent Consideration Arrangements, Maximum Period | 2 years | ||||||||||||
Business Combination, Contingent Consideration Arrangements, Weighted Average Period | 7 months | ||||||||||||
Payments for acquisition-related contingent consideration | $ (12,800) | $ (8,940) | |||||||||||
2021 Notes [Member] | |||||||||||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||||||||||||
Unamortized Debt Issuance Expense | 1,700 | 1,700 | 2,000 | ||||||||||
Unsecured senior notes, face value | $ 500,000 | ||||||||||||
Debt Instrument, Unamortized Discount | (1,200) | (1,200) | (1,400) | $ (3,100) | |||||||||
Unsecured senior notes, fair value | 515,600 | 515,600 | 536,600 | ||||||||||
Line of Credit, Maturing August 11, 2021 [Member] | |||||||||||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||||||||||||
Line of Credit Facility, Maximum Borrowing Capacity | 1,000,000 | 1,000,000 | |||||||||||
Revolving credit facility outstanding balance | 411,000 | 411,000 | 625,000 | ||||||||||
Unamortized Debt Issuance Expense | 2,600 | 2,600 | 3,300 | ||||||||||
1.875 Percent Ten Year Senior Unsecured Notes [Member] | |||||||||||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||||||||||||
Unamortized Debt Issuance Expense | 3,900 | 3,900 | 4,300 | ||||||||||
Unsecured senior notes, face value | € | € 500 | ||||||||||||
Debt Instrument, Unamortized Discount | (4,200) | (4,200) | (4,700) | € (4.4) | |||||||||
1.875 Percent Ten Year Senior Unsecured Notes [Member] | Euro Member Countries, Euro | |||||||||||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||||||||||||
Unsecured senior notes, fair value | 502,900 | 502,900 | 508,900 | ||||||||||
0.6 Percent Senior Unsecured Notes due in April 2021 [Member] | |||||||||||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||||||||||||
Unamortized Debt Issuance Expense | 2,300 | 2,300 | |||||||||||
Unsecured senior notes, face value | $ 300,000 | ||||||||||||
Debt Instrument, Unamortized Discount | (200) | (200) | $ (200) | ||||||||||
Unsecured senior notes, fair value | 301,200 | 301,200 | |||||||||||
Other Debt Facilities - EUROIMMUN [Member] | |||||||||||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||||||||||||
Long-term Debt, Percentage Bearing Fixed Interest, Amount | € | € 43.3 | ||||||||||||
Other Debt Facilities - EUROIMMUN [Member] | Euro Member Countries, Euro | |||||||||||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||||||||||||
Other Long-term Debt | € | € 30.4 | € 47.6 | |||||||||||
Vanadis Diagnostics AB [Member] | |||||||||||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||||||||||||
Payments to Acquire Businesses, Net of Cash Acquired | $ 32,000 | ||||||||||||
Business Acquisition, Cost of Acquired Entity, Liabilities Incurred, Contingent Consideration at Fair Value | $ 59,599 | 56,878 | |||||||||||
Business Combination, Contingent Consideration Arrangements, Range of Outcomes, Value, High | $ 93,000 | ||||||||||||
Payments for acquisition-related contingent consideration | 16,500 | ||||||||||||
Payment for Contingent Consideration Liability, Financing Activities | 12,800 | ||||||||||||
Payment for Contingent Consideration Liability, Operating Activities | $ 3,700 | ||||||||||||
Minimum [Member] | Vanadis Diagnostics AB [Member] | |||||||||||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||||||||||||
Projected milestone date | 2,018 | ||||||||||||
Conditional probability of success | 95.00% | 95.00% | 95.00% | ||||||||||
Cumulative probability of success | 84.00% | 84.00% | 84.00% | ||||||||||
Minimum [Member] | Vanadis Diagnostics AB [Member] | Measurement Input, Discount Rate [Member] | |||||||||||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||||||||||||
Measurement Inputs, Discount Rate | 3.40% | ||||||||||||
Maximum [Member] | Vanadis Diagnostics AB [Member] | |||||||||||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||||||||||||
Projected milestone date | 2,019 | ||||||||||||
Conditional probability of success | 98.00% | 98.00% | 98.00% | ||||||||||
Cumulative probability of success | 98.00% | 98.00% | 98.00% | ||||||||||
Maximum [Member] | Vanadis Diagnostics AB [Member] | Measurement Input, Discount Rate [Member] | |||||||||||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||||||||||||
Measurement Inputs, Discount Rate | 6.50% | ||||||||||||
Significant Other Observable Inputs (Level 2) [Member] | 2021 Notes [Member] | |||||||||||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||||||||||||
Long-term Debt | $ 497,200 | $ 497,200 | 496,600 | ||||||||||
Significant Other Observable Inputs (Level 2) [Member] | Line of Credit, Maturing August 11, 2021 [Member] | |||||||||||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||||||||||||
Long-term Debt | 408,400 | 408,400 | 621,700 | ||||||||||
Significant Other Observable Inputs (Level 2) [Member] | 1.875 Percent Ten Year Senior Unsecured Notes [Member] | |||||||||||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||||||||||||
Long-term Debt | 572,300 | 572,300 | 591,700 | ||||||||||
Significant Other Observable Inputs (Level 2) [Member] | 0.6 Percent Senior Unsecured Notes due in April 2021 [Member] | |||||||||||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||||||||||||
Long-term Debt | 345,800 | 345,800 | |||||||||||
Significant Other Observable Inputs (Level 2) [Member] | Financing Lease Obligations [Member] | |||||||||||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||||||||||||
Other Long-term Debt | $ 34,900 | $ 34,900 | $ 35,900 | ||||||||||
Significant Other Observable Inputs (Level 2) [Member] | Other Debt Facilities - EUROIMMUN [Member] | |||||||||||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||||||||||||
Other Long-term Debt | € | € 43.5 | € 60.2 |
Fair Value Measurements (Assets
Fair Value Measurements (Assets and Liabilities Carried at Fair Value Measured on a Recurring Basis) (Details) - USD ($) $ in Thousands | Sep. 30, 2018 | Jul. 01, 2018 | Dec. 31, 2017 | Oct. 01, 2017 | Jul. 02, 2017 | Jan. 01, 2017 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability Value | $ 67,126 | $ 74,093 | $ 65,328 | $ 64,727 | $ 64,076 | $ 63,201 |
Fair Value, Measurements, Recurring [Member] | Carrying (Reported) Amount, Fair Value Disclosure [Member] | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Marketable securities | 2,405 | 2,208 | ||||
Foreign exchange derivative assets, net | (1,273) | (1,431) | ||||
Foreign exchange derivative liabilities, net | (4,694) | (23,638) | ||||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability Value | 67,126 | 65,328 | ||||
Fair Value, Measurements, Recurring [Member] | Quoted Prices In Active Markets (Level 1) [Member] | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Marketable securities | 2,405 | 2,208 | ||||
Foreign exchange derivative assets, net | 0 | 0 | ||||
Foreign exchange derivative liabilities, net | 0 | 0 | ||||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability Value | 0 | 0 | ||||
Fair Value, Measurements, Recurring [Member] | Significant Other Observable Inputs (Level 2) [Member] | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Marketable securities | 0 | 0 | ||||
Foreign exchange derivative assets, net | (1,273) | (1,431) | ||||
Foreign exchange derivative liabilities, net | (4,694) | (23,638) | ||||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability Value | 0 | 0 | ||||
Fair Value, Measurements, Recurring [Member] | Significant Unobservable Inputs (Level 3) [Member] | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Marketable securities | 0 | 0 | ||||
Foreign exchange derivative assets, net | 0 | 0 | ||||
Foreign exchange derivative liabilities, net | 0 | 0 | ||||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability Value | $ 67,126 | $ 65,328 |
Fair Value Measurements (Reconc
Fair Value Measurements (Reconciliation of Beginning and Ending Level 3 Net Liabilities) (Details) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2018 | Oct. 01, 2017 | Sep. 30, 2018 | Oct. 01, 2017 | |
Fair Value Disclosures [Abstract] | ||||
Balance beginning of period | $ (74,093,000) | $ (64,076,000) | $ (65,328,000) | $ (63,201,000) |
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability, Purchases | 5,800,000 | 0 | 7,500,000 | 0 |
Payments | 16,507,000 | 0 | 16,507,000 | 34,000 |
Change in fair value (included within selling, general and administrative expenses) | (3,740,000) | (651,000) | (10,805,000) | (1,560,000) |
Balance end of period | $ (67,126,000) | $ (64,727,000) | $ (67,126,000) | $ (64,727,000) |
Contingencies (Details)
Contingencies (Details) $ in Millions | 9 Months Ended | |
Sep. 30, 2018USD ($)years | Dec. 31, 2017USD ($) | |
Commitments and Contingencies Disclosure [Abstract] | ||
Management's estimate of total cost of ultimate disposition | $ | $ 8.5 | $ 9.4 |
Number of years over which estimated environmental cost will be paid | years | 10 |