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

12 Months Ended

Dec. 31, 2018

Accounting Policies [Abstract]

Summary of Activity of Company's Allowance for Doubtful Accounts

The following is a summary of the activity of the Company’s allowance for doubtful accounts for the years ended December 31, 2018, 2017 and 2016 (in thousands):

		Balance at Beginning of Period				Additions				Deduction				Balance at End of Period
Allowance for Doubtful Accounts
December 31, 2018		$	6,109			$	6,333			$	(4,779	)		$	7,663
December 31, 2017		$	5,141			$	3,752			$	(2,784	)		$	6,109
December 31, 2016		$	4,617			$	2,399			$	(1,875	)		$	5,141

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 December 31, 2018 (in thousands):

		Total at December 31, 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		$	164,315			$	—			$	164,315			$	—
Foreign government securities			3,463				—				3,463				—
Corporate debt securities			723,059				—				723,059				—
Time deposits			108,638				—				108,638				—
Waters 401(k) Restoration Plan assets			33,104				33,104				—				—
Foreign currency exchange contracts			503				—				503				—
Interest rate cross-currency swap agreements			1,093				—				1,093				—
Total		$	1,034,175			$	33,104			$	1,001,071			$	—
Liabilities:
Contingent consideration		$	2,476			$	—			$	—			$	2,476
Foreign currency exchange contracts			224				—				224				—
Total		$	2,700			$	—			$	224			$	2,476

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

Fair Value of Forward Foreign Exchange Contracts

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):

		December 31, 2018								December 31, 2017
		Notional Value				Fair Value				Notional Value				Fair Value
Foreign currency exchange contracts:
Other current assets		$	112,212			$	503			$	110,759			$	566
Other current liabilities		$	40,175			$	224			$	37,104			$	182
Interest rate cross-currency swap agreements:
Other assets		$	300,000			$	1,093			$	—			$	—
Accumulated other comprehensive income						$	(1,093	)						$	—

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
				Year Ended December 31,
				2018				2017				2016
Foreign currency exchange contracts:
Realized (losses) gains on closed contracts		Cost of sales		$	(6,684	)		$	3,894			$	(10,401	)
Unrealized (losses) gains on open contracts		Cost of sales			(105	)			1,054				(883	)
Cumulative net pre-tax (losses) gains		Cost of sales		$	(6,789	)		$	4,948			$	(11,284	)
Interest rate cross-currency swap agreements:
Interest earned		Interest income		$	2,713			$	—			$	—
Unrealized gains on open contracts		Stockholders’ equity		$	1,093			$	—			$	—

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 years ended December 31, 2018, 2017 and 2016 (in thousands):

		Balance at Beginning of Period				Accruals for Warranties				Settlements Made				Balance at End of Period
Accrued warranty liability:
December 31, 2018		$	13,026			$	5,033			$	(5,759	)		$	12,300
December 31, 2017		$	13,391			$	8,746			$	(9,111	)		$	13,026
December 31, 2016		$	13,349			$	9,755			$	(9,713	)		$	13,391

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Tabular disclosure of financial instruments measured at fair value, including those classified in shareholders' equity measured on a recurring or nonrecurring basis. Disclosures include, but are not limited to, fair value measurements recorded and the reasons for the measurements, level within the fair value hierarchy in which the fair value measurements are categorized and transfers between levels 1 and 2. Nonrecurring fair value measurements are those that are required or permitted in the statement of financial position in particular circumstances.

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