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Basis of Presentation and Summary of Significant Accounting Policies (Tables)

9 Months Ended

Sep. 29, 2018

Accounting Policies [Abstract]

Allowance for Doubtful Accounts Roll Forward

The following is a summary of the activity of the Company’s allowance for doubtful accounts for the nine months ended September 29, 2018 and September 30, 2017 (in thousands):

		Balance at Beginning of Period				Additions				Deduction				Balance at End of Period
Allowance for Doubtful Accounts
September 29, 2018		$	6,109			$	2,752			$	(2,175	)		$	6,686
September 30, 2017		$	5,140			$	2,545			$	(1,586	)		$	6,099

Summary of Assets and Liabilities Measured at Fair Value on Recurring Basis

The following table represents the Company’s assets and liabilities measured at fair value on a recurring basis at September 29, 2018 (in thousands):

		Total at September 29, 2018				Quoted Prices in Active Markets for Identical Assets (Level 1)				Significant Other Observable Inputs (Level 2)				Significant Unobservable Inputs (Level 3)
Assets:
U.S. Treasury securities		$	271,918			$	—			$	271,918			$	—
Foreign government securities			2,958				—				2,958				—
Corporate debt securities			1,063,382				—				1,063,382				—
Time deposits			179,271				—				179,271				—
Waters 401(k) Restoration Plan assets			37,723				37,723				—				—
Foreign currency exchange contracts			116				—				116				—
Interest rate cross-currency swap agreements			767				—				767				—
Total		$	1,556,135			$	37,723			$	1,518,412			$	—
Liabilities:
Contingent consideration		$	3,701			$	—			$	—			$	3,701
Foreign currency exchange contracts			828				—				828				—
Total		$	4,529			$	—			$	828			$	3,701

The following table represents the Company’s assets and liabilities measured at fair value on a recurring basis at December 31, 2017 (in thousands):

		Total at December 31, 2017				Quoted Prices in Active Markets for Identical Assets (Level 1)				Significant Other Observable Inputs (Level 2)				Significant Unobservable Inputs (Level 3)
Assets:
U.S. Treasury securities		$	591,988			$	—			$	591,988			$	—
Foreign government securities			6,952				—				6,952				—
Corporate debt securities			1,975,160				—				1,975,160				—
Time deposits			371,511				—				371,511				—
Equity securities			147				—				147				—
Waters 401(k) Restoration Plan assets			35,645				35,645				—				—
Foreign currency exchange contracts			566				—				566				—
Total		$	2,981,969			$	35,645			$	2,946,324			$	—
Liabilities:
Contingent consideration		$	3,247			$	—			$	—			$	3,247
Foreign currency exchange contracts			182				—				182				—
Total		$	3,429			$	—			$	182			$	3,247

Summary of Foreign Currency Exchange Contracts and Interest Rate Cross-Currency Swap Agreements

The Company’s foreign currency exchange contracts and interest rate cross-currency swap agreements included in the consolidated balance sheets are classified as follows (in thousands):

		September 29, 2018								December 31, 2017
		Notional Value				Fair Value				Notional Value				Fair Value
Foreign exchange contracts:
Other current assets		$	37,927			$	116			$	110,759			$	566
Other current liabilities		$	105,885			$	828			$	37,104			$	182
Interest rate cross-currency swap agreements:
Other assets		$	150,000			$	767			$	—			$	—
Accumulated other comprehensive income						$	(767	)						$	—

Gains (Losses) on Foreign Exchange Contracts

The following is a summary of the activity included in the statements of comprehensive income related to the foreign currency exchange contracts (in thousands):

		Financial Statement Classification		Three Months Ended								Nine Months Ended
				September 29, 2018				September 30, 2017				September 29, 2018				September 30, 2017
Foreign currency exchange contracts:
Realized (losses) gains on closed contracts		Cost of sales		$	(23	)		$	2,871			$	(2,181	)		$	3,301
Unrealized (losses) gains on open contracts		Cost of sales			(5	)			(1,258	)			(1,097	)			819
Cumulative net pre-tax (losses) gains		Cost of sales		$	(28	)		$	1,613			$	(3,278	)		$	4,120
Interest rate cross-currency swap agreements:
Interest earned		Interest income		$	927			$	—			$	927			$	—
Unrealized gains on open contracts		Stockholders’ equity		$	767			$	—			$	767			$	—

Summary of Activity of Company's Accrued Warranty Liability

The following is a summary of the activity of the Company’s accrued warranty liability for the nine months ended September 29, 2018 and September 30, 2017 (in thousands):

		Balance at Beginning of Period				Accruals for Warranties				Settlements Made				Balance at End of Period
Accrued warranty liability:
September 29, 2018		$	13,026			$	6,068			$	(6,901	)		$	12,193
September 30, 2017		$	13,391			$	6,287			$	(6,823	)		$	12,855

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