2023 Q1 Form 10-K Financial Statement

#000119312523050827 Filed on February 27, 2023

View on sec.gov

Income Statement

Concept 2023 Q1 2022 Q4 2022 Q2
Revenue $684.7M $708.6M $690.6M
YoY Change -0.85% 7.48% 13.49%
Cost Of Revenue $284.4M $307.1M $285.7M
YoY Change -0.46% 13.27% 12.43%
Gross Profit $400.3M $401.5M $404.9M
YoY Change -1.13% 3.44% 14.25%
Gross Profit Margin 58.46% 56.66% 58.63%
Selling, General & Admin $182.0M $164.4M $157.5M
YoY Change 15.55% 7.78% 9.97%
% of Gross Profit 45.46% 40.96% 38.89%
Research & Development $42.69M $43.44M $50.27M
YoY Change 5.48% 3.45% 31.94%
% of Gross Profit 10.66% 10.82% 12.42%
Depreciation & Amortization $62.15M $32.66M
YoY Change 87.29% 4.36%
% of Gross Profit 15.48% 8.07%
Operating Expenses $224.6M $207.9M $209.4M
YoY Change 13.49% 5.89% 14.31%
Operating Profit $174.2M $192.0M $195.5M
YoY Change -10.9% 0.1% 14.18%
Interest Expense $14.44M $12.42M -$8.945M
YoY Change 30.61% -245.55% 31.54%
% of Operating Profit 8.29% 6.47% -4.58%
Other Income/Expense, Net $1.388M $895.0K $170.0K
YoY Change 716.47% -247.45% -98.19%
Pretax Income $165.2M $183.4M $186.7M
YoY Change -11.53% 0.39% 7.42%
Income Tax $24.25M $27.38M $26.86M
% Of Pretax Income 14.68% 14.93% 14.39%
Net Earnings $156.0M $159.8M
YoY Change -3.22% 7.92%
Net Earnings / Revenue 22.02% 23.14%
Basic Earnings Per Share $2.39 $2.61 $2.74
Diluted Earnings Per Share $2.38 $2.60 $2.622M
COMMON SHARES
Basic Shares Outstanding 58.94M 59.80M 60.21M
Diluted Shares Outstanding 59.32M 60.08M 60.51M

Balance Sheet

Concept 2023 Q1 2022 Q4 2022 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $444.5M $503.1M
YoY Change -32.16% -37.87%
Cash & Equivalents $443.6M $480.1M
Short-Term Investments $876.0K $23.03M
Other Short-Term Assets $87.91M $92.92M
YoY Change -3.3% 16.87%
Inventory $442.2M $381.9M
Prepaid Expenses
Receivables $600.9M $607.3M
Other Receivables $0.00 $0.00
Total Short-Term Assets $1.576B $1.585B
YoY Change -3.28% -10.34%
LONG-TERM ASSETS
Property, Plant & Equipment $547.4M $634.1M
YoY Change -0.1% 5.34%
Goodwill $420.0M
YoY Change -4.11%
Intangibles $213.4M
YoY Change -11.95%
Long-Term Investments
YoY Change
Other Assets $227.1M $149.7M
YoY Change 48.36% -7.91%
Total Long-Term Assets $1.494B $1.456B
YoY Change 1.94% 0.86%
TOTAL ASSETS
Total Short-Term Assets $1.576B $1.585B
Total Long-Term Assets $1.494B $1.456B
Total Assets $3.070B $3.041B
YoY Change -0.8% -5.3%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $96.57M $93.24M
YoY Change -0.24% 14.4%
Accrued Expenses $99.45M $70.07M
YoY Change -12.4% -3.62%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $1.545B
YoY Change
Total Short-Term Liabilities $732.0M $687.8M
YoY Change 7.56% -12.38%
LONG-TERM LIABILITIES
Long-Term Debt $1.495B $1.444B
YoY Change -1.27% -9.92%
Other Long-Term Liabilities $99.84M $214.5M
YoY Change 11.18% -8.57%
Total Long-Term Liabilities $1.953B $1.659B
YoY Change -4.59% -9.75%
TOTAL LIABILITIES
Total Short-Term Liabilities $732.0M $687.8M
Total Long-Term Liabilities $1.953B $1.659B
Total Liabilities $2.685B $2.666B
YoY Change -1.56% -10.54%
SHAREHOLDERS EQUITY
Retained Earnings $8.282B
YoY Change 6.16%
Common Stock $2.183B
YoY Change 3.15%
Preferred Stock
YoY Change
Treasury Stock (at cost) $9.915B
YoY Change 5.06%
Treasury Stock Shares $102.8M
Shareholders Equity $385.2M $374.9M
YoY Change
Total Liabilities & Shareholders Equity $3.070B $3.041B
YoY Change -0.8% -5.3%

Cashflow Statement

Concept 2023 Q1 2022 Q4 2022 Q2
OPERATING ACTIVITIES
Net Income $156.0M $159.8M
YoY Change -3.22% 7.92%
Depreciation, Depletion And Amortization $62.15M $32.66M
YoY Change 87.29% 4.36%
Cash From Operating Activities $158.1M $198.0M
YoY Change -5.84% -9.36%
INVESTING ACTIVITIES
Capital Expenditures -$41.63M -$32.65M
YoY Change 4.79% -17.35%
Acquisitions
YoY Change
Other Investing Activities $3.249M $51.64M
YoY Change -95.51% -143.21%
Cash From Investing Activities -$38.38M $18.99M
YoY Change -217.45% -111.94%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net $70.00M
YoY Change
Cash From Financing Activities -88.01M -227.4M
YoY Change -35.15% -220.45%
NET CHANGE
Cash From Operating Activities 158.1M 198.0M
Cash From Investing Activities -38.38M 18.99M
Cash From Financing Activities -88.01M -227.4M
Net Change In Cash 31.70M -10.46M
YoY Change -51.12% -104.21%
FREE CASH FLOW
Cash From Operating Activities $158.1M $198.0M
Capital Expenditures -$41.63M -$32.65M
Free Cash Flow $199.7M $230.6M
YoY Change -3.8% -10.58%

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CY2022 us-gaap Use Of Estimates
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<div style="font-family: Times New Roman; font-size: 10pt; margin-top: 6pt; margin-bottom: 0pt;;text-indent: 0px;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-style: normal; letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-style:italic;display:inline;">Use of Estimates </div></div></div></div> <div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;"/></div> <div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;"/></div> <div style="font-family: Times New Roman; font-size: 10pt; margin-top: 6pt; margin-bottom: 0pt;;text-indent: 0px;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;">The preparation of consolidated financial statements in conformity with generally accepted accounting principles (“GAAP”) requires the Company to make estimates and judgments that affect the reported amounts of assets, liabilities, revenues and expenses, and related disclosure of contingent liabilities at the dates of the financial statements. On an ongoing basis, the Company evaluates its estimates, including those related to revenue recognition, goodwill and intangible assets, income taxes, litigation and inventory valuation. The Company bases its estimates on historical experience and on various other assumptions that are believed to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities that are not readily apparent from other sources. Actual amounts may differ from these estimates under different assumptions or conditions. </div></div></div> <div style="letter-spacing: 0px; top: 0px; background: none;;display:inline;"><div style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px; background: none; text-decoration: none;;display:inline;"> </div></div> <div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;"/></div>
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CY2022 us-gaap Additional Cash And Cash Equivalent Related Text
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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.
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CY2021Q4 us-gaap Cash Cash Equivalents And Short Term Investments
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CY2022 us-gaap Concentration Risk Credit Risk
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<div style="font-family: Times New Roman; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;;text-indent: 0px;"><div style="letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-style: normal; letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-style:italic;display:inline;">Concentration of Credit Risk </div></div></div><br/></div> <div style="font-family: Times New Roman; font-size: 10pt; margin-top: 6pt; margin-bottom: 0pt;"><div style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px;;text-indent: 0px;;display:inline;">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 59%, 60% and 59% in 2022, 2021 and 2020, respectively. None of the Company’s individual customers accounted for more than 2% of annual Company sales in 2022, 2021 or 2020. 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 <div style="letter-spacing: 0px; top: 0px;;display:inline;">experienced significant credit losses. </div> </div></div>
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CY2021Q4 us-gaap Capitalized Software Development Costs For Software Sold To Customers
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10000000
CY2022 us-gaap Payments To Acquire Other Investments
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CY2021 us-gaap Payments To Acquire Other Investments
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CY2020 us-gaap Payments To Acquire Other Investments
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10000000
CY2022 us-gaap Standard Product Warranty Accrual Payments
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CY2022 us-gaap Description Of Foreign Currency Exposure
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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.
CY2022 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.
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CY2022 us-gaap Standard Product Warranty Accrual Warranties Issued
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CY2022 us-gaap Property Plant And Equipment Income Statement Disclosures
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Gains or losses on disposals were immaterial for the years ended December 31, 2022, 2021 and 2020.
CY2022Q4 us-gaap Goodwill
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CY2021Q4 us-gaap Goodwill
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CY2022Q4 us-gaap Standard Product Warranty Accrual Current
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11949000
CY2020Q4 us-gaap Standard Product Warranty Accrual Current
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10950000
CY2021 us-gaap Standard Product Warranty Accrual Warranties Issued
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CY2021 us-gaap Standard Product Warranty Accrual Payments
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CY2019Q4 us-gaap Standard Product Warranty Accrual Current
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CY2020 us-gaap Standard Product Warranty Accrual Warranties Issued
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7909000
CY2020 us-gaap Standard Product Warranty Accrual Payments
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8923000
CY2020Q4 us-gaap Standard Product Warranty Accrual Current
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10950000
CY2022 us-gaap Advertising Expense
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CY2021 us-gaap Advertising Expense
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7000000
CY2020 us-gaap Advertising Expense
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CY2022 us-gaap Finite Lived Intangible Asset Useful Life
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CY2020Q4 us-gaap Contract With Customer Liability
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CY2019Q4 us-gaap Contract With Customer Liability
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213695000
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CY2022Q4 us-gaap Revenue Remaining Performance Obligation
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CY2022Q4 us-gaap Available For Sale Securities Debt Securities
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CY2021Q4 us-gaap Debt Securities Available For Sale Amortized Cost After Allowance For Credit Loss
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0
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CY2021Q4 us-gaap Available For Sale Securities Debt Securities
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CY2021Q4 us-gaap Debt Securities Available For Sale Amortized Cost After Allowance For Credit Loss
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CY2021Q4 us-gaap Available For Sale Securities Accumulated Gross Unrealized Gain Before Tax
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CY2021Q4 us-gaap Available For Sale Securities Debt Maturities Within One Year Fair Value
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CY2021Q4 us-gaap Available For Sale Securities Debt Securities
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CY2021Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
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673516000
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CY2021Q4 us-gaap Property Plant And Equipment Net
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CY2021 us-gaap Property Plant And Equipment Disposals
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58000000
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61000000
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61000000
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CY2022 us-gaap Debt Instrument Fee
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The interest rates applicable to the 2021 Credit Agreement are, at the Company’s option, equal to either the alternate base rate (which is a rate per annum equal to the greatest of (1) the prime rate in effect on such day, (2) the Federal Reserve Bank of New York Rate on such day plus 1/2 of 1% per annum and (3) the adjusted LIBO rate on such day (or if such day is not a business day, the immediately preceding business day) for a deposit in U.S. dollars with a maturity of one month plus 1% per annum) or the applicable 1, 3 or 6 month adjusted LIBO rate or EURIBO rate for euro-denominated loans, in each case, plus an interest rate margin based upon the Company’s leverage ratio, which can range between 0 and 12.5 basis points for alternate base rate loans and between 80 and 112.5 basis points for LIBO rate or EURIBO rate loans. The facility fee on the 2021 Credit Agreement ranges between 7.5 and 25 basis points per annum, based on the leverage ratio, of the amount of the revolving facility commitments and the outstanding term loan.
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CY2021Q4 us-gaap Debt And Capital Lease Obligations
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113000000
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121000000
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50000000
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100000000
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CY2021 us-gaap Current Foreign Tax Expense Benefit
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CY2021 us-gaap Current Income Tax Expense Benefit
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CY2021 us-gaap Deferred Federal Income Tax Expense Benefit
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6682000
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CY2021Q4 wat Deferred Tax Assets Operating Lease Assets
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CY2022Q4 us-gaap Deferred Tax Assets Goodwill And Intangible Assets
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CY2021Q4 us-gaap Deferred Tax Assets Goodwill And Intangible Assets
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CY2021Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Employee Compensation
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CY2022Q4 us-gaap Deferred Tax Assets Deferred Income
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CY2021Q4 us-gaap Deferred Tax Assets Deferred Income
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10997000
CY2022Q4 us-gaap Deferred Tax Assets Equity Method Investments
DeferredTaxAssetsEquityMethodInvestments
23000
CY2021Q4 us-gaap Deferred Tax Assets Equity Method Investments
DeferredTaxAssetsEquityMethodInvestments
3083000
CY2022Q4 us-gaap Deferred Tax Assets Inventory
DeferredTaxAssetsInventory
6463000
CY2021Q4 us-gaap Deferred Tax Assets Inventory
DeferredTaxAssetsInventory
5405000
CY2022Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccruals
4815000
CY2021Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccruals
6675000
CY2022Q4 us-gaap Deferred Tax Assets Unrealized Currency Losses
DeferredTaxAssetsUnrealizedCurrencyLosses
1858000
CY2021Q4 us-gaap Deferred Tax Assets Unrealized Currency Losses
DeferredTaxAssetsUnrealizedCurrencyLosses
2266000
CY2022Q4 us-gaap Deferred Tax Assets In Process Research And Development
DeferredTaxAssetsInProcessResearchAndDevelopment
34234000
CY2021Q4 us-gaap Deferred Tax Assets In Process Research And Development
DeferredTaxAssetsInProcessResearchAndDevelopment
0
CY2022Q4 us-gaap Deferred Tax Assets Other
DeferredTaxAssetsOther
1098000
CY2021Q4 us-gaap Deferred Tax Assets Other
DeferredTaxAssetsOther
6713000
CY2022Q4 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
167928000
CY2021Q4 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
150735000
CY2022Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
54300000
CY2021Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
58834000
CY2022Q4 us-gaap Deferred Tax Assets Net
DeferredTaxAssetsNet
113628000
CY2021Q4 us-gaap Deferred Tax Assets Net
DeferredTaxAssetsNet
91901000
CY2022Q4 us-gaap Deferred Tax Liabilities Deferred Expense Capitalized Software
DeferredTaxLiabilitiesDeferredExpenseCapitalizedSoftware
25429000
CY2021Q4 us-gaap Deferred Tax Liabilities Deferred Expense Capitalized Software
DeferredTaxLiabilitiesDeferredExpenseCapitalizedSoftware
24357000
CY2022Q4 wat Deferred Tax Liabilities Operating Lease Assets
DeferredTaxLiabilitiesOperatingLeaseAssets
19543000
CY2021Q4 wat Deferred Tax Liabilities Operating Lease Assets
DeferredTaxLiabilitiesOperatingLeaseAssets
19251000
CY2022Q4 us-gaap Deferred Tax Liabilities Goodwill And Intangible Assets Goodwill
DeferredTaxLiabilitiesGoodwillAndIntangibleAssetsGoodwill
16057000
CY2021Q4 us-gaap Deferred Tax Liabilities Goodwill And Intangible Assets Goodwill
DeferredTaxLiabilitiesGoodwillAndIntangibleAssetsGoodwill
15534000
CY2022Q4 us-gaap Deferred Tax Liabilities Property Plant And Equipment
DeferredTaxLiabilitiesPropertyPlantAndEquipment
0
CY2021Q4 us-gaap Deferred Tax Liabilities Property Plant And Equipment
DeferredTaxLiabilitiesPropertyPlantAndEquipment
3481000
CY2021Q4 us-gaap Deferred Tax Liabilities Undistributed Foreign Earnings
DeferredTaxLiabilitiesUndistributedForeignEarnings
17283000
CY2022Q4 us-gaap Deferred Tax Liabilities
DeferredTaxLiabilities
79706000
CY2021Q4 us-gaap Deferred Tax Liabilities
DeferredTaxLiabilities
79906000
CY2022Q4 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Stock Options
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptions
23000000
CY2022Q4 us-gaap Deferred Tax Assets Liabilities Net
DeferredTaxAssetsLiabilitiesNet
33922000
CY2021Q4 us-gaap Deferred Tax Assets Liabilities Net
DeferredTaxAssetsLiabilitiesNet
11995000
CY2022Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
54000000
CY2021Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
28692000
CY2020Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
28666000
CY2019Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
27790000
CY2022 us-gaap Unrecognized Tax Benefits Decreases Resulting From Settlements With Taxing Authorities
UnrecognizedTaxBenefitsDecreasesResultingFromSettlementsWithTaxingAuthorities
0
CY2021 us-gaap Unrecognized Tax Benefits Decreases Resulting From Settlements With Taxing Authorities
UnrecognizedTaxBenefitsDecreasesResultingFromSettlementsWithTaxingAuthorities
1300000
CY2020 us-gaap Unrecognized Tax Benefits Decreases Resulting From Settlements With Taxing Authorities
UnrecognizedTaxBenefitsDecreasesResultingFromSettlementsWithTaxingAuthorities
399000
CY2022 us-gaap Unrecognized Tax Benefits Reductions Resulting From Lapse Of Applicable Statute Of Limitations
UnrecognizedTaxBenefitsReductionsResultingFromLapseOfApplicableStatuteOfLimitations
818000
CY2021 us-gaap Unrecognized Tax Benefits Reductions Resulting From Lapse Of Applicable Statute Of Limitations
UnrecognizedTaxBenefitsReductionsResultingFromLapseOfApplicableStatuteOfLimitations
433000
CY2020 us-gaap Unrecognized Tax Benefits Reductions Resulting From Lapse Of Applicable Statute Of Limitations
UnrecognizedTaxBenefitsReductionsResultingFromLapseOfApplicableStatuteOfLimitations
684000
CY2022 us-gaap Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromCurrentPeriodTaxPositions
1145000
CY2021 us-gaap Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromCurrentPeriodTaxPositions
1759000
CY2020 us-gaap Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromCurrentPeriodTaxPositions
1959000
CY2022Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
29019000
CY2021Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
28692000
CY2020Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
28666000
CY2022Q4 us-gaap Unrecognized Tax Benefits That Would Impact Effective Tax Rate
UnrecognizedTaxBenefitsThatWouldImpactEffectiveTaxRate
29000000
CY2021Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
58834000
CY2022 wat Valuation Allowance Deferred Tax Asset Charged To Income Tax Provision
ValuationAllowanceDeferredTaxAssetChargedToIncomeTaxProvision
-1647000
CY2022 wat Valuation Allowance Deferred Tax Asset Change Others
ValuationAllowanceDeferredTaxAssetChangeOthers
-2887000
CY2022Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
54300000
CY2020Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
60101000
CY2021 wat Valuation Allowance Deferred Tax Asset Charged To Income Tax Provision
ValuationAllowanceDeferredTaxAssetChargedToIncomeTaxProvision
2919000
CY2021 wat Valuation Allowance Deferred Tax Asset Change Others
ValuationAllowanceDeferredTaxAssetChangeOthers
-4186000
CY2021Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
58834000
CY2019Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
51221000
CY2020 wat Valuation Allowance Deferred Tax Asset Charged To Income Tax Provision
ValuationAllowanceDeferredTaxAssetChargedToIncomeTaxProvision
1137000
CY2020 wat Valuation Allowance Deferred Tax Asset Change Others
ValuationAllowanceDeferredTaxAssetChangeOthers
7743000
CY2020Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
60101000
CY2022Q4 us-gaap Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Number Of Exercisable Options
ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfExercisableOptions
300000
CY2021Q4 us-gaap Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Number Of Exercisable Options
ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfExercisableOptions
300000
CY2021 us-gaap Loss Contingency Accrual Provision
LossContingencyAccrualProvision
5000000
CY2022Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P4Y4M24D
CY2021Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P4Y8M12D
CY2022 us-gaap Operating Lease Cost
OperatingLeaseCost
36000000
CY2021 us-gaap Operating Lease Cost
OperatingLeaseCost
34000000
CY2020 us-gaap Operating Lease Cost
OperatingLeaseCost
38000000
CY2022Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0324
CY2021Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0304
CY2022 us-gaap Operating Lease Payments
OperatingLeasePayments
36000000
CY2021 us-gaap Operating Lease Payments
OperatingLeasePayments
34000000
CY2020 us-gaap Operating Lease Payments
OperatingLeasePayments
38000000
CY2022 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
12000000
CY2021 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
3000000
CY2020 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
16000000
CY2022Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
86506000
CY2021Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
84734000
CY2022Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
26429000
CY2021Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
27906000
CY2022Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
62108000
CY2021Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
59623000
CY2022Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
88537000
CY2021Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
87529000
CY2020Q4 us-gaap Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Number Of Exercisable Options
ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfExercisableOptions
500000
CY2022Q4 us-gaap Sharebased Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Exercisable Options Weighted Average Exercise Price1
SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeExercisableOptionsWeightedAverageExercisePrice1
188.21
CY2021Q4 us-gaap Sharebased Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Exercisable Options Weighted Average Exercise Price1
SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeExercisableOptionsWeightedAverageExercisePrice1
162.09
CY2019Q4 us-gaap Sharebased Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Exercisable Options Weighted Average Exercise Price1
SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeExercisableOptionsWeightedAverageExercisePrice1
154.16
CY2022 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P4Y9M18D
CY2022Q4 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
39000000
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingNumber
600000
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingAggregateIntrinsicValue
62000000
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
28494000
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
23472000
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
14121000
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
12933000
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
6970000
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
8921000
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
94911000
CY2022Q4 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
6374000
CY2022Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
88537000
CY2022Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
26429000
CY2022Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
62108000
CY2022 wat Future Minimum License Fees Payable
FutureMinimumLicenseFeesPayable
Future minimum license fees payable under existing license agreements as of December 31, 2022 are immaterial for the years ended December 31, 2022 and thereafter.
CY2022Q4 wat Potentials Payments Under Licensing Arrangements
PotentialsPaymentsUnderLicensingArrangements
2000000
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Available For Grant
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant
6500000
CY2022 wat Employee Stock Purchase Plan Maximum Contribution Allowed As Percent Of Employees Earnings
EmployeeStockPurchasePlanMaximumContributionAllowedAsPercentOfEmployeesEarnings
0.15
CY2022Q4 wat Employee Stock Purchase Plan Total Number Of Shares Purchased
EmployeeStockPurchasePlanTotalNumberOfSharesPurchased
1600000
CY2022 wat Employee Stock Purchase Plan Period In Months
EmployeeStockPurchasePlanPeriodInMonths
P3M
CY2022 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.
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice
237.99
CY2022 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1
P6Y8M12D
CY2022 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
42564000
CY2021 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
29918000
CY2020 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
36865000
CY2022Q4 us-gaap Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Number Of Outstanding Options
ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfOutstandingOptions
597000
CY2022Q4 us-gaap Sharebased Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Outstanding Options Weighted Average Exercise Price Beginning Balance1
SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageExercisePriceBeginningBalance1
238.43
CY2022 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P6Y10M24D
CY2022Q4 us-gaap Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Number Of Exercisable Options
ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfExercisableOptions
250000
CY2022Q4 us-gaap Sharebased Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Exercisable Options Weighted Average Exercise Price1
SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeExercisableOptionsWeightedAverageExercisePrice1
188.21
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
31000000
CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
43000000
CY2020 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
45000000
CY2022 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
32000000
CY2021 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
46000000
CY2020 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
59000000
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
62000000
CY2020 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
320000
CY2020 wat Earnings Per Share Diluted Adjustment
EarningsPerShareDilutedAdjustment
-0.04
CY2022 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
707755000
CY2022 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
59985000
CY2022 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
11.8
CY2022 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
346000
CY2022 wat Earnings Per Share Diluted Adjustment
EarningsPerShareDilutedAdjustment
-0.07
CY2022 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
707755000
CY2022 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
60331000
CY2022 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
11.73
CY2021 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
692843000
CY2021 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
61575000
CY2021 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
11.25
CY2021 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
453000
CY2021 wat Earnings Per Share Diluted Adjustment
EarningsPerShareDilutedAdjustment
-0.08
CY2021 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
692843000
CY2021 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
62028000
CY2021 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
11.17
CY2020 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
521571000
CY2020 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
62094000
CY2020 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
8.4
CY2020 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
521571000
CY2020 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
62414000
CY2020 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
8.36
CY2022 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
66000
CY2021 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
3000
CY2020 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
272000
CY2022 wat Retirement Plans Company Contributions To Other Non Us Retirement Plans
RetirementPlansCompanyContributionsToOtherNonUSRetirementPlans
16000000
CY2021 wat Retirement Plans Company Contributions To Other Non Us Retirement Plans
RetirementPlansCompanyContributionsToOtherNonUSRetirementPlans
17000000
CY2020 wat Retirement Plans Company Contributions To Other Non Us Retirement Plans
RetirementPlansCompanyContributionsToOtherNonUSRetirementPlans
14000000
CY2022 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.
CY2022 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
CY2022 wat Defined Benefit Plan Effect Of One Quarter Percentage Point Increase In Discount Rate On Net Periodic Benefit Cost
DefinedBenefitPlanEffectOfOneQuarterPercentagePointIncreaseInDiscountRateOnNetPeriodicBenefitCost
less than $1 million
CY2022Q4 us-gaap Defined Benefit Plan Expected Future Benefit Payments Next Twelve Months
DefinedBenefitPlanExpectedFutureBenefitPaymentsNextTwelveMonths
5159000
CY2022Q4 us-gaap Defined Benefit Plan Expected Future Benefit Payments Year Two
DefinedBenefitPlanExpectedFutureBenefitPaymentsYearTwo
4268000
CY2022Q4 us-gaap Defined Benefit Plan Expected Future Benefit Payments Year Three
DefinedBenefitPlanExpectedFutureBenefitPaymentsYearThree
4428000
CY2022Q4 us-gaap Defined Benefit Plan Expected Future Benefit Payments Year Four
DefinedBenefitPlanExpectedFutureBenefitPaymentsYearFour
5040000
CY2022Q4 us-gaap Defined Benefit Plan Expected Future Benefit Payments Year Five
DefinedBenefitPlanExpectedFutureBenefitPaymentsYearFive
6146000
CY2022Q4 us-gaap Defined Benefit Plan Expected Future Benefit Payments Five Fiscal Years Thereafter
DefinedBenefitPlanExpectedFutureBenefitPaymentsFiveFiscalYearsThereafter
34573000
CY2022 us-gaap Number Of Operating Segments
NumberOfOperatingSegments
2
CY2022 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
1
CY2022 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
2971956000
CY2021 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
2785874000
CY2020 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
2365365000
CY2022Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
195470000
CY2022 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
2971956000
CY2021 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
2785874000
CY2020 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
2365365000
CY2022 wat Maximum Percentage Of Net Sales To Individual Customer
MaximumPercentageOfNetSalesToIndividualCustomer
0.02
CY2022 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
2971956000
CY2021 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
2785874000
CY2020 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
2365365000
CY2022Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
582217000
CY2021Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
547913000
CY2020Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
494003000
CY2022Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
690572000
CY2022Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
714319000
CY2022Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
708555000
CY2022Q4 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
858510000
CY2022 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
2971956000
CY2022Q1 us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
285685000
CY2022Q2 us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
307206000
CY2022Q3 us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
307101000
CY2022Q4 us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
348190000
CY2022 us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
1248182000
CY2022Q1 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
157475000
CY2022Q2 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
161877000
CY2022Q3 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
164417000
CY2022Q4 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
174257000
CY2022 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
658026000
CY2022Q1 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
40472000
CY2022Q2 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
44006000
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