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Business Segment Information | 6 Months Ended
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Jun. 30, 2018
Segment Reporting [Abstract] |
Business Segment Information | 12 Business Segment Information 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: WatersTM and TATM. The Waters operating segment is primarily in the business of designing, manufacturing, distributing and servicing LC and MS instruments, columns and other precision chemistry consumables that can be integrated and used along with other analytical instruments. The TA operating segment is primarily in the business of designing, manufacturing, distributing and servicing thermal analysis, rheometry and calorimetry instruments. The Company’s two operating segments have 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 three and six months ended June 30, 2018 and July 1, 2017 (in thousands):
|  | Three Months Ended |  |  | Six Months Ended |
|  | June 30, 2018 |  |  | July 1, 2017 |  |  | June 30, 2018 |  |  | July 1, 2017 |
Product net sales: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Waters instrument systems |  | $ | 239,928 |  |  | $ | 238,548 |  |  | $ | 438,031 |  |  | $ | 436,337 |
Chemistry consumables |  |  | 99,129 |  |  |  | 90,824 |  |  |  | 197,839 |  |  |  | 178,727 |
TA instrument systems |  |  | 49,812 |  |  |  | 43,466 |  |  |  | 92,116 |  |  |  | 82,070 |
Total product sales |  |  | 388,869 |  |  |  | 372,838 |  |  |  | 727,986 |  |  |  | 697,134 |
Service net sales: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Waters service |  |  | 188,248 |  |  |  | 168,408 |  |  |  | 362,581 |  |  |  | 326,142 |
TA service |  |  | 19,102 |  |  |  | 17,004 |  |  |  | 36,322 |  |  |  | 32,943 |
Total service sales |  |  | 207,350 |  |  |  | 185,412 |  |  |  | 398,903 |  |  |  | 359,085 |
Total net sales |  | $ | 596,219 |  |  | $ | 558,250 |  |  | $ | 1,126,889 |  |  | $ | 1,056,219 |
Geographic sales information is presented below for the three and six months ended June 30, 2018 and July 1, 2017 (in thousands):
|  | Three Months Ended |  |  | Six Months Ended |
|  | June 30, 2018 |  |  | July 1, 2017 |  |  | June 30, 2018 |  |  | July 1, 2017 |
Net Sales: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Asia: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
China |  | $ | 109,709 |  |  | $ | 94,104 |  |  | $ | 203,537 |  |  | $ | 179,226 |
Japan |  |  | 43,183 |  |  |  | 41,559 |  |  |  | 85,948 |  |  |  | 82,856 |
Asia Other |  |  | 84,013 |  |  |  | 80,040 |  |  |  | 147,700 |  |  |  | 148,727 |
Total Asia |  |  | 236,905 |  |  |  | 215,703 |  |  |  | 437,185 |  |  |  | 410,809 |
Americas: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
United States |  |  | 161,485 |  |  |  | 164,374 |  |  |  | 308,306 |  |  |  | 303,608 |
Americas Other |  |  | 36,641 |  |  |  | 32,212 |  |  |  | 71,530 |  |  |  | 67,628 |
Total Americas |  |  | 198,126 |  |  |  | 196,586 |  |  |  | 379,836 |  |  |  | 371,236 |
Europe |  |  | 161,188 |  |  |  | 145,961 |  |  |  | 309,868 |  |  |  | 274,174 |
Total net sales |  | $ | 596,219 |  |  | $ | 558,250 |  |  | $ | 1,126,889 |  |  | $ | 1,056,219 |
Net sales by customer class are as follows for the three and six months ended June 30, 2018 and July 1, 2017 (in thousands):
|  | Three Months Ended |  |  | Six Months Ended |
|  | June 30, 2018 |  |  | July 1, 2017 |  |  | June 30, 2018 |  |  | July 1, 2017 |
Pharmaceutical |  | $ | 338,354 |  |  | $ | 319,650 |  |  | $ | 643,682 |  |  | $ | 599,460 |
Industrial |  |  | 183,664 |  |  |  | 174,531 |  |  |  | 345,994 |  |  |  | 335,834 |
Governmental and academic |  |  | 74,201 |  |  |  | 64,069 |  |  |  | 137,213 |  |  |  | 120,925 |
Total net sales |  | $ | 596,219 |  |  | $ | 558,250 |  |  | $ | 1,126,889 |  |  | $ | 1,056,219 |
Net sales for the Company recognized at a point in time versus over time are as follows for the three and six months ended June 30, 2018 and July 1, 2017 (in thousands):
|  | Three Months Ended |  |  | Six Months Ended |
|  | June 30, 2018 |  |  | July 1, 2017 |  |  | June 30, 2018 |  |  | July 1, 2017 |
Net sales recognized at a point in time: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Instrument systems |  | $ | 289,740 |  |  | $ | 282,014 |  |  | $ | 530,147 |  |  | $ | 518,407 |
Chemistry consumables |  |  | 99,129 |  |  |  | 90,824 |  |  |  | 197,839 |  |  |  | 178,727 |
Service sales recognized at a point in time (time & materials) |  |  | 80,397 |  |  |  | 72,937 |  |  |  | 152,915 |  |  |  | 140,439 |
Total net sales recognized at a point in time |  |  | 469,266 |  |  |  | 445,775 |  |  |  | 880,901 |  |  |  | 837,573 |
Net sales recognized over time: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Service and software sales recognized over time (contracts) |  |  | 126,953 |  |  |  | 112,475 |  |  |  | 245,988 |  |  |  | 218,646 |
Total net sales |  | $ | 596,219 |  |  | $ | 558,250 |  |  | $ | 1,126,889 |  |  | $ | 1,056,219 |

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -URI http://asc.fasb.org/topic&trid=2134510 + Details
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