XML 58 R41.htm IDEA: XBRL DOCUMENT
v2.4.0.8

Debt (Details) (USD $) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 6 Months Ended |  | 6 Months Ended |  | 6 Months Ended |  |  |  | 6 Months Ended |  | 6 Months Ended |  |  |  |  |  |
--- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | ---
Jun. 28, 2014 | Dec. 31, 2013 | Jun. 28, 2014 Senior unsecured notes - Series A [Member] | Dec. 31, 2013 Senior unsecured notes - Series A [Member] | Feb. 01, 2010 Senior unsecured notes - Series A [Member] | Jun. 28, 2014 Senior unsecured notes - Series B [Member] | Dec. 31, 2013 Senior unsecured notes - Series B [Member] | Mar. 01, 2010 Senior unsecured notes - Series B [Member] | Jun. 28, 2014 Senior unsecured notes - Series C [Member] | Dec. 31, 2013 Senior unsecured notes - Series C [Member] | Mar. 15, 2011 Senior unsecured notes - Series C [Member] | Jun. 28, 2014 Senior unsecured notes - Series D [Member] | Dec. 31, 2013 Senior unsecured notes - Series D [Member] | Mar. 15, 2011 Senior unsecured notes - Series D [Member] | Jun. 28, 2014 Senior unsecured notes - Series E [Member] | Dec. 31, 2013 Senior unsecured notes - Series E [Member] | Mar. 15, 2011 Senior unsecured notes - Series E [Member] | Jun. 28, 2014 Senior unsecured notes - Series F [Member] | Jun. 30, 2014 Senior unsecured notes - Series F [Member] | Jun. 28, 2014 Senior Unsecured Notes - Series G [Member] | Jun. 30, 2014 Senior Unsecured Notes - Series G [Member] | Jun. 28, 2014 Senior Unsecured Note - Series H [Member] | Jun. 30, 2014 Senior Unsecured Note - Series H [Member] | Jun. 28, 2014 Foreign subsidiary lines of credit [Member] | Dec. 31, 2013 Foreign subsidiary lines of credit [Member] | Jun. 28, 2014 Unsecured debt [Member] | Dec. 31, 2013 Unsecured debt [Member] | Jun. 28, 2014 Credit Agreement dated June 2013 [Member] | Dec. 31, 2013 Credit Agreement dated June 2013 [Member] | Jun. 25, 2013 Credit Agreement dated June 2013 [Member] Term loan facility [Member] | Jun. 28, 2014 Credit Agreement dated June 2013 [Member] Revolving facilities [Member] | Jun. 25, 2013 Credit Agreement dated June 2013 [Member] Revolving facilities [Member] | Jun. 28, 2014 Credit Agreement dated July 2013 and unsecured debt [Member] | Dec. 31, 2013 Credit Agreement dated July 2013 and unsecured debt [Member]
Debt [Line Items] |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Face value of debt |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | $ 100,000,000 |  | $ 50,000,000 |  | $ 50,000,000 |  |  |  |  |  |  | $ 300,000,000 |  | $ 1,100,000,000 |  |
Debt term |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 7 years |  | 10 years |  | 10 years |  |  |  |  |  |  |  |  |  |  |  |
Stated interest rate on debt instrument |  |  |  |  | 3.75% |  |  | 5.00% |  |  | 2.50% |  |  | 3.22% |  |  | 3.97% |  | 3.40% |  | 3.92% |  |  |  |  |  |  |  |  |  |  |  |  |
Interest rate terms on debt |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | *Series H senior unsecured notes bear interest at 3 month LIBOR for that floating rate interest period plus 1.25%. |  |  |  |  |  | The interest rates applicable to the 2013 Credit Agreement are, at the Company’s option, equal to either the alternate base rate calculated daily (which is a rate per annum equal to the greatest of (a) the prime rate in effect on such day, (b) the federal funds effective rate in effect on such day plus 1/2% per annum, or (c) 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, 2, 3 or 6 month adjusted LIBO rate, in each case, plus an interest rate margin based upon the Company’s leverage ratio, which can range between 0 to 12.5 basis points for alternate base rate loans and between 75 basis points and 112.5 basis points for adjusted LIBO rate loans. |  |  |  |  |  |
Debt facility fee |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | The facility fee on the 2013 Credit Agreement ranges between 12.5 basis points and 25 basis points. |  |  |  |  |  |
Call feature on debt instrument |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | The Company may prepay all or some of the senior unsecured notes at any time in an amount not less than 10% of the aggregate principal amount outstanding, plus the applicable make-whole amount or prepayment premium for Series H senior unsecured notes. |  |  |  | The Company may prepay all or some of the senior unsecured notes at any time in an amount not less than 10% of the aggregate principal amount outstanding, plus the applicable make-whole amount. In the event of a change in control (as defined in the note purchase agreement) of the Company, the Company may be required to prepay the senior unsecured notes at a price equal to 100% of the principal amount thereof, plus accrued and unpaid interest. |  |  |  |  |  |  |  |
Debt covenant description |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | These senior unsecured notes require that the Company comply with an interest coverage ratio test of not less than 3.50:1 for any period of four consecutive fiscal quarters and a leverage ratio test of not more than 3.50:1 as of the end of any fiscal quarter. |  | The 2013 Credit Agreement requires that the Company comply with an interest coverage ratio test of not less than 3.50:1 as of the end of any fiscal quarter for any period of four consecutive fiscal quarters and a leverage ratio test of not more than 3.50:1 as of the end of any fiscal quarter. |  |  |  |  |  |
Notes payable and debt | 233,403,000 | 133,346,000 | 100,000,000 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 8,403,000 | 8,346,000 |  |  | 125,000,000 | 125,000,000 |  | 125,000,000 |  |  |
Long-term debt | 1,160,000,000 | 1,190,000,000 |  | 100,000,000 |  | 100,000,000 | 100,000,000 |  | 50,000,000 | 50,000,000 |  | 100,000,000 | 100,000,000 |  | 50,000,000 | 50,000,000 |  |  |  |  |  |  |  |  |  | 400,000,000 | 400,000,000 | 860,000,000 | 790,000,000 |  | 560,000,000 |  |  |
Total debt | 1,393,403,000 | 1,323,346,000 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Weighted-average interest rate |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 2.05% | 2.00% |  |  |  |  |  |  |  | 2.08% | 1.94%
Unused borrowing capacity |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 413,000,000 | 483,000,000 |  |  |  |  |
Line of credit maximum borrowing capacity |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | $ 93,000,000 | $ 87,000,000 |  |  |  |  |  |  |  |  |

X
- Definition Amount of short-term debt and current maturity of long-term debt and capital lease obligations due within one year or the normal operating cycle, if longer. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.19,20) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 19 -Article 5 + Details
Name: | us-gaap_DebtCurrent
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | instant

X
- Definition Description of a feature that permits the issuer of the debt to repay or convert it before the stated maturity date (early retirement date). The description may include such items as the call price, the period that the issuer can call the debt, including the earliest call date, and other significant terms of the call feature, which may include the debt holders' ability to convert the debt to equity if the call option is exercised and contingent events that trigger the issuer's ability to call the debt. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 22 -Article 5 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 470 -Section 50 -Paragraph 3 -Subparagraph (e) -URI http://asc.fasb.org/extlink&oid=6479336&loc=d3e64711-112823 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.22(a)(5)) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 + Details
Name: | us-gaap_DebtInstrumentCallFeature
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Description of minimum financial levels (for example, tangible net worth and working capital) and achievement of certain financial ratios (for example, working capital ratio and debt service coverage ratio), and adherence to certain clauses which generally require or restrict certain actions (for example, entering into a debt arrangement with equal or greater seniority, and selling or discontinuing a certain business segment or material subsidiary) to be in compliance with the covenant clauses of the debt agreement. May also include a discussion of the adverse consequences that would result if the entity violates or fails to satisfy the covenants. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 22 -Article 5 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 470 -Section 50 -Paragraph 3 -Subparagraph (g) -URI http://asc.fasb.org/extlink&oid=6479336&loc=d3e64711-112823 + Details
Name: | us-gaap_DebtInstrumentCovenantDescription
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Face (par) amount of debt instrument at time of issuance. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 835 -SubTopic 30 -Section 45 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6451184&loc=d3e28551-108399 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 835 -SubTopic 30 -Section 55 -Paragraph 8 -URI http://asc.fasb.org/extlink&oid=6584090&loc=d3e28878-108400 + Details
Name: | us-gaap_DebtInstrumentFaceAmount
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | instant

X
- Definition Description of a fee associated with the debt instrument, including a commitment fee on unborrowed portions of a lender's total contractual commitment. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 22 -Article 5 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.22(b)) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 + Details
Name: | us-gaap_DebtInstrumentFee
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Contractual interest rate for funds borrowed, under the debt agreement. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 22 -Article 5 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.22(a)(1)) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 + Details
Name: | us-gaap_DebtInstrumentInterestRateStatedPercentage
Namespace Prefix: | us-gaap_
Data Type: | num:percentItemType
Balance Type: | na
Period Type: | instant

X
- Definition Description of the interest rate as being fixed or variable, and, if variable, identification of the index or rate on which the interest rate is based and the number of points or percentage added to that index or rate to set the rate, and other pertinent information, such as frequency of rate resets. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 22 -Article 5 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.22(a)(1)) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 + Details
Name: | us-gaap_DebtInstrumentInterestRateTerms
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Period of time between issuance and maturity of debt instrument, in PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days. + References No definition available. + Details
Name: | us-gaap_DebtInstrumentTerm
Namespace Prefix: | us-gaap_
Data Type: | xbrli:durationItemType
Balance Type: | na
Period Type: | duration

X
- Definition Amount of unused borrowing capacity under the long-term financing arrangement that is available to the entity as of the balance sheet date. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.22(b)) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 22 -Subparagraph b -Article 5 + Details
Name: | us-gaap_DebtInstrumentUnusedBorrowingCapacityAmount
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | instant

X
- Definition Weighted average interest rate of debt outstanding. + References No definition available. + Details
Name: | us-gaap_DebtWeightedAverageInterestRate
Namespace Prefix: | us-gaap_
Data Type: | num:percentItemType
Balance Type: | na
Period Type: | instant

X
- Definition Maximum borrowing capacity under the credit facility without consideration of any current restrictions on the amount that could be borrowed or the amounts currently outstanding under the facility. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.19(b),22(b)) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 19, 22 -Article 5 + Details
Name: | us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | instant

X
- Definition Carrying amount of long-term debt, net of unamortized discount or premium, excluding amounts to be repaid within one year or the normal operating cycle, if longer (current maturities). Includes, but not limited to, notes payable, bonds payable, debentures, mortgage loans and commercial paper. Excludes capital lease obligations. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 22 -Article 5 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.22) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 + Details
Name: | us-gaap_LongTermDebtNoncurrent
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | instant

X
- Definition Sum of the carrying values as of the balance sheet date of all debt. + References No definition available. + Details
Name: | wat_Debt
Namespace Prefix: | wat_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | instant

X
- Details
Name: | wat_DebtLineItems
Namespace Prefix: | wat_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration