2018 Q4 Form 10-K Financial Statement

#000119312519051872 Filed on February 26, 2019

View on sec.gov

Income Statement

Concept 2018 Q4 2018 Q3 2018 Q2
Revenue $715.0M $578.0M $596.2M
YoY Change 4.04% 2.2% 19.73%
Cost Of Revenue $286.9M $241.1M $243.1M
YoY Change 6.07% 2.22% 5.88%
Gross Profit $428.2M $336.9M $353.1M
YoY Change 2.72% 2.18% 31.58%
Gross Profit Margin 59.88% 58.28% 59.22%
Selling, General & Admin $142.9M $127.0M $136.6M
YoY Change -3.73% -6.07% 5.04%
% of Gross Profit 33.37% 37.7% 38.7%
Research & Development $38.11M $35.17M $35.64M
YoY Change 8.5% 4.12% 8.22%
% of Gross Profit 8.9% 10.44% 10.1%
Depreciation & Amortization $25.70M $26.90M $27.20M
YoY Change -7.55% -8.5% 112.78%
% of Gross Profit 6.0% 7.98% 7.7%
Operating Expenses $181.0M $162.2M $172.3M
YoY Change -1.39% -4.03% 5.68%
Operating Profit $244.5M $171.7M $179.2M
YoY Change 6.05% 7.96% 16.45%
Interest Expense $11.68M $11.44M $11.69M
YoY Change -23.59% -22.47% -16.98%
% of Operating Profit 4.77% 6.66% 6.52%
Other Income/Expense, Net -$45.50M -$811.0K -$1.828M
YoY Change 11162.62% -6858.33% 1784.54%
Pretax Income $197.8M $169.2M $174.6M
YoY Change -12.37% 10.03% 17.89%
Income Tax $12.65M $28.22M $18.88M
% Of Pretax Income 6.4% 16.67% 10.82%
Net Earnings $185.2M $141.0M $155.7M
YoY Change -152.43% 6.98% 47.44%
Net Earnings / Revenue 25.9% 24.39% 26.11%
Basic Earnings Per Share $2.48 $1.84 $2.00
Diluted Earnings Per Share $2.46 $1.83 $1.98
COMMON SHARES
Basic Shares Outstanding 74.80M shares 76.58M shares 77.83M shares
Diluted Shares Outstanding 75.35M shares 77.14M shares 78.44M shares

Balance Sheet

Concept 2018 Q4 2018 Q3 2018 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.735B $2.084B $2.249B
YoY Change -48.87% -33.32% -24.2%
Cash & Equivalents $796.3M $689.4M $742.2M
Short-Term Investments $938.9M $1.395B $1.506B
Other Short-Term Assets $68.05M $83.70M $83.09M
YoY Change -5.89% 17.39% 18.36%
Inventory $291.6M $313.6M $299.6M
Prepaid Expenses
Receivables $568.3M $489.2M $492.8M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $2.663B $2.971B $3.124B
YoY Change -37.63% -24.74% -17.32%
LONG-TERM ASSETS
Property, Plant & Equipment $343.1M $338.5M $335.7M
YoY Change -1.77% -0.13% 0.39%
Goodwill $355.6M $357.9M $357.5M
YoY Change -1.17%
Intangibles $246.9M $252.8M $218.2M
YoY Change 8.1%
Long-Term Investments
YoY Change
Other Assets $118.7M $123.1M $122.4M
YoY Change 1.66% -8.4% -8.07%
Total Long-Term Assets $1.064B $1.072B $1.034B
YoY Change 0.95% 2.17% 0.14%
TOTAL ASSETS
Total Short-Term Assets $2.663B $2.971B $3.124B
Total Long-Term Assets $1.064B $1.072B $1.034B
Total Assets $3.727B $4.043B $4.158B
YoY Change -29.99% -19.09% -13.57%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $68.17M $65.81M $71.19M
YoY Change 5.63% -7.44% 6.41%
Accrued Expenses $23.01M $52.10M $49.20M
YoY Change -71.98% 10.85% 14.69%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $200.0K $300.0K $500.0K
YoY Change -99.8% -99.87% -99.78%
Total Short-Term Liabilities $448.9M $448.1M $474.9M
YoY Change -25.94% -31.41% -24.88%
LONG-TERM LIABILITIES
Long-Term Debt $1.148B $1.148B $1.148B
YoY Change -39.49% -31.95% -30.09%
Other Long-Term Liabilities $76.35M $77.13M $74.88M
YoY Change 21.91% -40.16% -43.19%
Total Long-Term Liabilities $1.711B $1.719B $1.708B
YoY Change -31.12% -5.37% -3.73%
TOTAL LIABILITIES
Total Short-Term Liabilities $448.9M $448.1M $474.9M
Total Long-Term Liabilities $1.711B $1.719B $1.708B
Total Liabilities $2.160B $2.167B $2.183B
YoY Change -30.1% -12.57% -9.65%
SHAREHOLDERS EQUITY
Retained Earnings $5.995B $5.810B $5.669B
YoY Change 10.91%
Common Stock $1.836B $1.817B $1.800B
YoY Change 5.13%
Preferred Stock
YoY Change
Treasury Stock (at cost) $6.146B $5.625B $5.361B
YoY Change 27.83%
Treasury Stock Shares $87.36M 84.64M shares 83.27M shares
Shareholders Equity $1.567B $1.876B $1.975B
YoY Change
Total Liabilities & Shareholders Equity $3.727B $4.043B $4.158B
YoY Change -29.99% -19.09% -13.57%

Cashflow Statement

Concept 2018 Q4 2018 Q3 2018 Q2
OPERATING ACTIVITIES
Net Income $185.2M $141.0M $155.7M
YoY Change -152.43% 6.98% 47.44%
Depreciation, Depletion And Amortization $25.70M $26.90M $27.20M
YoY Change -7.55% -8.5% 112.78%
Cash From Operating Activities $181.5M $146.3M $100.8M
YoY Change -5.52% -17.39% -42.14%
INVESTING ACTIVITIES
Capital Expenditures -$31.90M -$58.90M -$20.80M
YoY Change 5.63% 159.47% 17.51%
Acquisitions
YoY Change
Other Investing Activities $457.5M $110.2M $331.4M
YoY Change -550.3% -163.26% -517.91%
Cash From Investing Activities $425.6M $51.30M $310.6M
YoY Change -422.91% -126.05% -420.21%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -493.1M -256.2M -364.1M
YoY Change 1920.9% 2487.88% 2836.29%
NET CHANGE
Cash From Operating Activities 181.5M 146.3M 100.8M
Cash From Investing Activities 425.6M 51.30M 310.6M
Cash From Financing Activities -493.1M -256.2M -364.1M
Net Change In Cash 114.0M -58.60M 47.30M
YoY Change 217.55% 97.31% -27.01%
FREE CASH FLOW
Cash From Operating Activities $181.5M $146.3M $100.8M
Capital Expenditures -$31.90M -$58.90M -$20.80M
Free Cash Flow $213.4M $205.2M $121.6M
YoY Change -4.0% 2.7% -36.63%

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CY2017 wat Retirement Plans Company Contributions To Other Non Us Retirement Plans
RetirementPlansCompanyContributionsToOtherNonUSRetirementPlans
12000000
CY2017 wat Tax Cuts And Jobs Act Of2017 Income Tax Expense Benefit
TaxCutsAndJobsActOf2017IncomeTaxExpenseBenefit
550000000
CY2017 wat Tax Cuts And Jobs Act Of2017 Transition Tax For Accumulated Foreign Earnings Income Tax Expense
TaxCutsAndJobsActOf2017TransitionTaxForAccumulatedForeignEarningsIncomeTaxExpense
490000000
CY2017 wat Tax Cuts And Jobs Act Of2017 Change In Tax Rate Income Tax Expense Benefit
TaxCutsAndJobsActOf2017ChangeInTaxRateIncomeTaxExpenseBenefit
20000000
CY2017 wat Realized Investment Gains Losses Description
RealizedInvestmentGainsLossesDescription
Realized gains and losses on sales of investments were not material in 2017 and 2016.
CY2017 wat Effective Income Tax Rate Excluding Tax Cuts And Jobs Act Of2017
EffectiveIncomeTaxRateExcludingTaxCutsAndJobsActOf2017
0.110 pure
CY2018 us-gaap Additional Cash And Cash Equivalent Related Text
AdditionalCashAndCashEquivalentRelatedText
Cash equivalents represent highly liquid investments, with original maturities of 90 days or less, primarily in bank deposits, U.S. treasury bill money market funds and commercial paper.
CY2018 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
37541000
CY2018 us-gaap Allowance For Doubtful Accounts Receivable Write Offs
AllowanceForDoubtfulAccountsReceivableWriteOffs
4779000
CY2018 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
100000 shares
CY2018 us-gaap Adjustment For Amortization
AdjustmentForAmortization
50456000
CY2018 us-gaap Advertising Expense
AdvertisingExpense
7000000
CY2018 dei Amendment Flag
AmendmentFlag
false
CY2018 us-gaap Amortization Of Deferred Charges
AmortizationOfDeferredCharges
50000000
CY2018 us-gaap Amortization Of Acquisition Costs
AmortizationOfAcquisitionCosts
7712000
CY2018 us-gaap Capitalized Computer Software Additions
CapitalizedComputerSoftwareAdditions
34000000
CY2018 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
-14265000
CY2018 dei Entity Central Index Key
EntityCentralIndexKey
0001000697
CY2018 dei Entity Well Known Seasoned Issuer
EntityWellKnownSeasonedIssuer
Yes
CY2018 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<div> <p style="MARGIN-BOTTOM: 0px; MARGIN-TOP: 18px"><font style="FONT-FAMILY: Times New Roman" size="2"><i>Concentration of Credit Risk</i></font></p> <p style="MARGIN-BOTTOM: 0px; MARGIN-TOP: 6px"><font style="FONT-FAMILY: Times New Roman" size="2">The Company sells its products and services to a significant number of large and small customers throughout the world, with net sales to the pharmaceutical industry of approximately 56% in each of the years 2018, 2017 and 2016. None of the Company&#x2019;s individual customers accounted for more than 2% of annual Company sales in 2018, 2017 or 2016. The Company performs continuing credit evaluations of its customers and generally does not require collateral, but in certain circumstances may require letters of credit or deposits. Historically, the Company has not experienced significant bad debt losses.</font></p> </div>
CY2018 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
153961000
CY2018 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
585890000
CY2018 us-gaap Contract With Customer Asset Increase Decrease For Contract Acquired In Business Combination
ContractWithCustomerAssetIncreaseDecreaseForContractAcquiredInBusinessCombination
2721000
CY2018 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
159258000
CY2018 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
85947000
CY2018 us-gaap Contract With Customer Liability Change In Timeframe Performance Obligation Satisfied Revenue Recognized
ContractWithCustomerLiabilityChangeInTimeframePerformanceObligationSatisfiedRevenueRecognized
170926000
CY2018 us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
992564000
CY2018 us-gaap Costs And Expenses
CostsAndExpenses
1680155000
CY2018 dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
CY2018 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
2405000
CY2018 us-gaap Defined Benefit Plan Alternative Method Used To Amortize Net Gains And Losses
DefinedBenefitPlanAlternativeMethodUsedToAmortizeNetGainsAndLosses
Amortize cumulative actuarial gains and losses in excess of 10% of the larger of the market-related value of plan assets and the projected benefit obligation over the expected future service of active participants.
CY2018 us-gaap Depreciation
Depreciation
57952000
CY2018 dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
FY
CY2018 dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2018
CY2018 dei Document Type
DocumentType
10-K
CY2018 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.130 pure
CY2018 us-gaap Description Of Foreign Currency Derivative Activities
DescriptionOfForeignCurrencyDerivativeActivities
The Company periodically aggregates its net worldwide balances by currency and then enters into foreign currency exchange contracts that mature within 90 days to hedge a portion of the remaining balance to minimize some of the Company's currency price risk exposure. The foreign currency exchange contracts are not designated for hedge accounting treatment.
CY2018 us-gaap Description Of Foreign Currency Exposure
DescriptionOfForeignCurrencyExposure
The Company is a global company that operates in over 35 countries and, as a result, the Company's net sales, cost of sales, operating expenses and balance sheet amounts are significantly impacted by fluctuations in foreign currency exchange rates.
CY2018 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
7.65
CY2018 us-gaap Federal Income Tax Expense Benefit Continuing Operations
FederalIncomeTaxExpenseBenefitContinuingOperations
24021000
CY2018 us-gaap Finite Lived Intangible Asset Useful Life
FiniteLivedIntangibleAssetUsefulLife
P7Y
CY2018 us-gaap Foreign Income Tax Expense Benefit Continuing Operations
ForeignIncomeTaxExpenseBenefitContinuingOperations
74048000
CY2018 dei Entity Registrant Name
EntityRegistrantName
WATERS CORP /DE/
CY2018 dei Entity Shell Company
EntityShellCompany
false
CY2018 dei Entity Small Business
EntitySmallBusiness
false
CY2018 dei Entity Voluntary Filers
EntityVoluntaryFilers
No
CY2018 dei Document Period End Date
DocumentPeriodEndDate
2018-12-31
CY2018 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
7.71
CY2018 dei Entity Current Reporting Status
EntityCurrentReportingStatus
Yes
CY2018 dei Entity Emerging Growth Company
EntityEmergingGrowthCompany
false
CY2018 dei Entity Filer Category
EntityFilerCategory
Large Accelerated Filer
CY2018 us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
-3000000
CY2018 us-gaap Gain Loss Related To Litigation Settlement
GainLossRelatedToLitigationSettlement
426000
CY2018 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
57822000
CY2018 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
682146000
CY2018 us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign
624324000
CY2018 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
88352000
CY2018 us-gaap Income Tax Holiday Aggregate Dollar Amount
IncomeTaxHolidayAggregateDollarAmount
28000000
CY2018 us-gaap Income Tax Holiday Income Tax Benefits Per Share
IncomeTaxHolidayIncomeTaxBenefitsPerShare
0.36
CY2018 us-gaap Income Tax Reconciliation Deductions Other
IncomeTaxReconciliationDeductionsOther
9089000
CY2018 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
12446000
CY2018 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
159397000
CY2018 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
143251000
CY2018 us-gaap Income Tax Reconciliation Foreign Income Tax Rate Differential
IncomeTaxReconciliationForeignIncomeTaxRateDifferential
-66092000
CY2018 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
2910000
CY2018 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
-81663000
CY2018 us-gaap Goodwill Foreign Currency Translation Gain Loss
GoodwillForeignCurrencyTranslationGainLoss
-4000000
CY2018 us-gaap Income Tax Reconciliation Other Adjustments
IncomeTaxReconciliationOtherAdjustments
2209000
CY2018 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
47921000
CY2018 us-gaap Interest Expense
InterestExpense
48641000
CY2018 us-gaap Inventory Write Down
InventoryWriteDown
8000000
CY2018 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
25396000
CY2018 us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
-6047000
CY2018 us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
-27015000
CY2018 us-gaap Interest Paid Net
InterestPaidNet
50798000
CY2018 us-gaap Line Of Credit Facility Interest Rate During Period
LineOfCreditFacilityInterestRateDuringPeriod
0.0188 pure
CY2018 us-gaap Investment Income Interest
InvestmentIncomeInterest
38807000
CY2018 us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax
1141000
CY2018 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
1 Segment
CY2018 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
593794000
CY2018 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
593794000
CY2018 us-gaap New Accounting Pronouncement Or Change In Accounting Principle Effect Of Adoption Quantification
NewAccountingPronouncementOrChangeInAccountingPrincipleEffectOfAdoptionQuantification
-3969000
CY2018 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
1683302000
CY2018 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-2119522000
CY2018 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
604446000
CY2018 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-7904000
CY2018 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
-7904000
CY2018 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Before Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentBeforeTax
-42070000
CY2018 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax
-27234000
CY2018 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans Before Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansBeforeTax
48792000
CY2018 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-47794000
CY2018 us-gaap Number Of Reporting Units
NumberOfReportingUnits
2 Segment
CY2018 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Gain Loss Arising During Period Net Of Tax
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax
-36279000
CY2018 us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Before Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentBeforeTax
698000
CY2018 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Before Reclassification Adjustments And Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentBeforeReclassificationAdjustmentsAndTax
6722000
CY2018 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansTax
-14836000
CY2018 us-gaap Number Of Operating Segments
NumberOfOperatingSegments
2 Segment
CY2018 us-gaap Operating Income Loss
OperatingIncomeLoss
739774000
CY2018 us-gaap Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
28000000
CY2018 us-gaap Other Comprehensive Income Loss Available For Sale Securities Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesTax
-443000
CY2018 us-gaap Payments For Proceeds From Productive Assets
PaymentsForProceedsFromProductiveAssets
96079000
CY2018 us-gaap Payments To Acquire Investments
PaymentsToAcquireInvestments
1006080000
CY2018 us-gaap Property Plant And Equipment Disposals
PropertyPlantAndEquipmentDisposals
9000000
CY2018 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
1315106000
CY2018 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
31486000
CY2018 us-gaap Payments For Proceeds From Derivative Instrument Financing Activities
PaymentsForProceedsFromDerivativeInstrumentFinancingActivities
6684000
CY2018 us-gaap Payments To Acquire Other Investments
PaymentsToAcquireOtherInvestments
7615000
CY2018 us-gaap Proceeds From Issuance Of Shares Under Incentive And Share Based Compensation Plans Including Stock Options
ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions
52429000
CY2018 us-gaap Proceeds From Sale Maturity And Collections Of Investments
ProceedsFromSaleMaturityAndCollectionsOfInvestments
2824562000
CY2018 us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
274000
CY2018 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
45000000
CY2018 us-gaap Profit Loss
ProfitLoss
593794000
CY2018 us-gaap Realized Investment Gains Losses
RealizedInvestmentGainsLosses
-1000000
CY2018 us-gaap Property Plant And Equipment Income Statement Disclosures
PropertyPlantAndEquipmentIncomeStatementDisclosures
Gains on disposal were immaterial for the years ended December 31, 2018 and 2017.
CY2018 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
6333000
CY2018 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
143403000
CY2018 us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
850435000
CY2018 us-gaap Revenue Performance Obligation Description Of Payment Terms
RevenuePerformanceObligationDescriptionOfPaymentTerms
Payment terms and conditions vary among the Company's revenue streams, although terms generally include a requirement of payment within 30 to 60 days of product shipment.
CY2018 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
2419929000
CY2018 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P7Y2M12D
CY2018 us-gaap Share Based Compensation
ShareBasedCompensation
37541000
CY2018 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
44555000
CY2018 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
536902000
CY2018 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P5Y9M18D
CY2018 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Accelerated Compensation Cost
ShareBasedCompensationArrangementByShareBasedPaymentAwardAcceleratedCompensationCost
1000000
CY2018 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
44000000
CY2018 dei Trading Symbol
TradingSymbol
WAT
CY2018 us-gaap Standard Product Warranty Accrual Payments
StandardProductWarrantyAccrualPayments
5759000
CY2018 us-gaap State And Local Income Tax Expense Benefit Continuing Operations
StateAndLocalIncomeTaxExpenseBenefitContinuingOperations
-9717000
CY2018 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1
P7Y1M6D
CY2018 us-gaap Standard Product Warranty Accrual Warranties Issued
StandardProductWarrantyAccrualWarrantiesIssued
5033000
CY2018 us-gaap Stock Issued During Period Value Employee Stock Purchase Plan
StockIssuedDuringPeriodValueEmployeeStockPurchasePlan
7874000
CY2018 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
37231000
CY2018 us-gaap Unrecognized Tax Benefits Reductions Resulting From Lapse Of Applicable Statute Of Limitations
UnrecognizedTaxBenefitsReductionsResultingFromLapseOfApplicableStatuteOfLimitations
436000
CY2018 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
77618000 shares
CY2018 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
76992000 shares
CY2018 us-gaap Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromCurrentPeriodTaxPositions
3050000
CY2018 us-gaap Unrecognized Tax Benefits Period Increase Decrease
UnrecognizedTaxBenefitsPeriodIncreaseDecrease
17651000
CY2018 us-gaap Valuation Allowances And Reserves Charged To Other Accounts
ValuationAllowancesAndReservesChargedToOtherAccounts
-6077000
CY2018 us-gaap Valuation Allowances And Reserves Charged To Cost And Expense
ValuationAllowancesAndReservesChargedToCostAndExpense
-2128000
CY2018 us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
1338111000
CY2018 us-gaap Use Of Estimates
UseOfEstimates
<div> <p style="MARGIN-BOTTOM: 0px; MARGIN-TOP: 6px"><font style="FONT-FAMILY: Times New Roman" size="2"><i>Use of Estimates</i></font></p> <p style="MARGIN-BOTTOM: 0px; MARGIN-TOP: 6px"><font style="FONT-FAMILY: Times New Roman" size="2">The preparation of consolidated financial statements in conformity with generally accepted accounting principles (&#x201C;GAAP&#x201D;) requires the Company to make estimates and judgments that affect the reported amounts of assets, liabilities, revenues and expenses, and related disclosure of contingent liabilities at the dates of the financial statements. On an ongoing basis, the Company evaluates its estimates, including those related to revenue recognition, product returns and allowances, bad debts, inventory valuation, goodwill and intangible assets, income taxes, warranty and installation provisions, litigation, retirement plan obligations, stock-based compensation, equity investments and contingencies. The Company bases its estimates on historical experience and on various other assumptions that are believed to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities that are not readily apparent from other sources. Actual amounts may differ from these estimates under different assumptions or conditions.</font></p> </div>
CY2018 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
626000 shares
CY2018 wat Income Tax Reconciliation Tax On Distributed Foreign Earnings
IncomeTaxReconciliationTaxOnDistributedForeignEarnings
-7495000
CY2018 wat Effective Income Tax Rate Reconciliation Tax Cuts And Jobs Act Of2017 Amount
EffectiveIncomeTaxRateReconciliationTaxCutsAndJobsActOf2017Amount
-6059000
CY2018 wat Increase Decrease In Tax Assets And Liabilities Related To Tax Cuts And Jobs Act Of2017
IncreaseDecreaseInTaxAssetsAndLiabilitiesRelatedToTaxCutsAndJobsActOf2017
-6059000
CY2018 wat Intangible Assets Accumulated Amortization Foreign Currency Translation Adjustments
IntangibleAssetsAccumulatedAmortizationForeignCurrencyTranslationAdjustments
-17000000
CY2018 wat Intangible Assets Gross Foreign Currency Translation Adjustments
IntangibleAssetsGrossForeignCurrencyTranslationAdjustments
-23000000
CY2018 wat Retirement Plans Company Contributions To Other Non Us Retirement Plans
RetirementPlansCompanyContributionsToOtherNonUSRetirementPlans
13000000
CY2018 wat Employee Stock Purchase Plan Purchase Price Calculation For Shares Of Stock
EmployeeStockPurchasePlanPurchasePriceCalculationForSharesOfStock
The purchase price for each share of stock is the lesser of 90% of the market price on the first day of the plan period or 100% of the market price on the last day of the plan period.
CY2018 wat Defined Benefit Plan Effect Of One Quarter Percentage Point Increase In Discount Rate On Net Periodic Benefit Cost
DefinedBenefitPlanEffectOfOneQuarterPercentagePointIncreaseInDiscountRateOnNetPeriodicBenefitCost
Less than $1 million
CY2018 wat Defined Benefit Plan Effect Of One Quarter Percentage Point Increase In Return On Assets On Net Periodic Benefit Cost
DefinedBenefitPlanEffectOfOneQuarterPercentagePointIncreaseInReturnOnAssetsOnNetPeriodicBenefitCost
Less than $1 million
CY2018 wat Future Minimum License Fees Payable
FutureMinimumLicenseFeesPayable
Future minimum license fees payable under existing license agreements as of December 31, 2018 are immaterial for the years ended December 31, 2019 and thereafter.
CY2018 wat Number Of Stock Based Compensation Plans
NumberOfStockBasedCompensationPlans
2 Plan
CY2018 wat Employee Stock Purchase Plan Plan Period In Months
EmployeeStockPurchasePlanPlanPeriodInMonths
P3M
CY2016 us-gaap Income Tax Holiday Aggregate Dollar Amount
IncomeTaxHolidayAggregateDollarAmount
23000000
CY2016 us-gaap Income Tax Holiday Income Tax Benefits Per Share
IncomeTaxHolidayIncomeTaxBenefitsPerShare
0.29
CY2018 wat Earnings Per Share Diluted Adjustment
EarningsPerShareDilutedAdjustment
-0.06
CY2018 wat Employee Stock Purchase Plan Maximum Contribution Allowed As Percent Of Employees Earnings
EmployeeStockPurchasePlanMaximumContributionAllowedAsPercentOfEmployeesEarnings
0.15 pure
CY2018 wat Maximum Percentage Of Net Sales To Individual Customer
MaximumPercentageOfNetSalesToIndividualCustomer
0.02 pure
CY2018 wat Income Tax Rate Reconciliation Global Intangible Lowtaxed Income
IncomeTaxRateReconciliationGlobalIntangibleLowtaxedIncome
13727000
CY2018 wat Allowance For Doubtful Accounts Additional Narrative Disclosure
AllowanceForDoubtfulAccountsAdditionalNarrativeDisclosure
Past due balances over 90 days and over a specified amount are reviewed individually for collectibility.
CY2016 us-gaap Adjustments To Additional Paid In Capital Tax Effect From Share Based Compensation
AdjustmentsToAdditionalPaidInCapitalTaxEffectFromShareBasedCompensation
13844000
CY2016 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
40998000
CY2016 us-gaap Allowance For Doubtful Accounts Receivable Write Offs
AllowanceForDoubtfulAccountsReceivableWriteOffs
1875000
CY2016 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
900000 shares
CY2016 us-gaap Adjustment For Amortization
AdjustmentForAmortization
44765000
CY2016 us-gaap Advertising Expense
AdvertisingExpense
11000000
CY2016 us-gaap Amortization Of Deferred Charges
AmortizationOfDeferredCharges
45000000
CY2016 us-gaap Amortization Of Acquisition Costs
AmortizationOfAcquisitionCosts
9889000
CY2016 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
17966000
CY2016 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
451949000
CY2016 us-gaap Contract With Customer Asset Increase Decrease For Contract Acquired In Business Combination
ContractWithCustomerAssetIncreaseDecreaseForContractAcquiredInBusinessCombination
9974000
CY2016 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
140688000
CY2016 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
77407000
CY2016 us-gaap Contract With Customer Liability Change In Timeframe Performance Obligation Satisfied Revenue Recognized
ContractWithCustomerLiabilityChangeInTimeframePerformanceObligationSatisfiedRevenueRecognized
144267000
CY2016 us-gaap Costs And Expenses
CostsAndExpenses
1542384000
CY2016 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
1204000
CY2016 us-gaap Deferred Other Tax Expense Benefit
DeferredOtherTaxExpenseBenefit
-3000000
CY2016 us-gaap Depreciation
Depreciation
51684000
CY2016 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.131 pure
CY2016 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
6.41
CY2016 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.35 pure
CY2016 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
-21335000
CY2016 us-gaap Excess Tax Benefit From Share Based Compensation Operating Activities
ExcessTaxBenefitFromShareBasedCompensationOperatingActivities
-13844000
CY2016 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
6.46
CY2016 us-gaap Federal Income Tax Expense Benefit Continuing Operations
FederalIncomeTaxExpenseBenefitContinuingOperations
19693000
CY2016 us-gaap Foreign Income Tax Expense Benefit Continuing Operations
ForeignIncomeTaxExpenseBenefitContinuingOperations
55828000
CY2016 us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
-4000000
CY2016 us-gaap Gain Loss Related To Litigation Settlement
GainLossRelatedToLitigationSettlement
-3524000
CY2016 us-gaap Gain Loss On Disposition Of Assets1
GainLossOnDispositionOfAssets1
1500000
CY2016 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
35154000
CY2016 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
600114000
CY2016 us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign
564960000
CY2016 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
78611000
CY2016 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans Before Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansBeforeTax
3263000
CY2016 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-700000
CY2016 us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax
390000
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