XML 58 R22.htm IDEA: XBRL DOCUMENT v2.4.0.8
Business Segment Information
 12 Months Ended
Dec. 31, 2013
Business Segment Information [Abstract]  
Business Segment Information

15  Business Segment Information

 

The accounting standards for segment reporting establish standards for reporting information about operating segments in annual financial statements and require selected information for those segments to be presented in interim financial reports of public business enterprises. They also establish standards for related disclosures about products and services, geographic areas and major customers. The Company's business activities, for which discrete financial information is available, are regularly reviewed and evaluated by the chief operating decision maker. As a result of this evaluation, the Company determined that it has two operating segments: Waters Division and TA Division.

 

Waters Division is primarily in the business of designing, manufacturing, distributing and servicing LC and MS instruments, columns and other chemistry consumables that can be integrated and used along with other analytical instruments. TA Division is primarily in the business of designing, manufacturing, distributing and servicing thermal analysis, rheometry and calorimetry instruments. The Company's two divisions are its operating segments and each has similar economic characteristics; product processes; products and services; types and classes of customers; methods of distribution and regulatory environments. Because of these similarities, the two segments have been aggregated into one reporting segment for financial statement purposes. Please refer to the consolidated financial statements for financial information regarding the one reportable segment of the Company.

Net sales for the Company's products and services are as follows for the years ended December 31, 2013, 2012 and 2011 (in thousands):

    2013 2012 2011
Product net sales:         
 Waters instrument systems $ 840,608 $ 828,458 $ 878,367
 Chemistry   304,130   294,787   292,506
 TA instrument systems   167,765   157,262   151,263
  Total product sales   1,312,503   1,280,507   1,322,136
            
Service net sales:         
 Waters service   532,323   509,412   480,553
 TA service   59,392   53,722   48,495
  Total service sales   591,715   563,134   529,048
            
Total net sales $ 1,904,218 $ 1,843,641 $ 1,851,184

Geographic sales information is presented below for the years ended December 31, 2013, 2012 and 2011 (in thousands):

     2013 2012 2011
Net Sales:         
 United States $ 557,734 $ 531,912 $ 530,606
 Europe   573,786   549,341   574,770
 Asia:         
  China   240,535   212,701   175,409
  Japan   170,115   207,340   211,893
  Asia Other   216,229   215,612   222,082
   Total Asia   626,879   635,653   609,384
 Other   145,819   126,735   136,424
Total net sales $ 1,904,218 $ 1,843,641 $ 1,851,184

The Other category includes Canada, Latin America and Puerto Rico. Net sales are attributable to geographic areas based on the region of destination. None of the Company's individual customers accounts for more than 2% of annual Company sales.

Long-lived assets information at December 31, 2013 and 2012 is presented below (in thousands):

   2013 2012
Long-lived assets:      
 United States $ 174,143 $ 173,932
 Europe   138,962   89,389
 Asia   10,412   8,467
 Other   1,415   1,491
Total long-lived assets $ 324,932 $ 273,279

The Other category includes Canada, Latin America and Puerto Rico. Long-lived assets exclude goodwill, other intangible assets and other assets.