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Basis of Presentation and Summary of Significant Accounting Policies (Tables) | 3 Months Ended
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Mar. 30, 2019
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 three months ended March 30, 2019 and March 31, 2018 (in thousands):
|  | Balance at |  |  |  |  |  |  |  |  | Balance at |
|  | Beginning |  |  |  |  |  |  |  |  | End of |
|  | of Period |  |  | Additions |  |  | Deduction |  |  | Period |
Allowance for Doubtful Accounts |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
March 30, 2019 |  | $ | 7,663 |  |  | $ | 2,159 |  |  | $ | (2,324 | ) |  | $ | 7,498 |
March 31, 2018 |  | $ | 6,109 |  |  | $ | 1,056 |  |  | $ | (1,033 | ) |  | $ | 6,132 |
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 March 30, 2019 (in thousands):
|  |  |  |  | Quoted Prices |  |  |  |  |  |  |
|  |  |  |  | in Active |  |  | Significant |  |  |  |
|  |  |  |  | Markets |  |  | Other |  |  | Significant |
|  | Total at |  |  | for Identical |  |  | Observable |  |  | Unobservable |
|  | March 30, |  |  | Assets |  |  | Inputs |  |  | Inputs |
|  | 2019 |  |  | (Level 1) |  |  | (Level 2) |  |  | (Level 3) |
Assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. Treasury securities |  | $ | 98,576 |  |  | $ | — |  |  | $ | 98,576 |  |  | $ | — |
Foreign government securities |  |  | 3,476 |  |  |  | — |  |  |  | 3,476 |  |  |  | — |
Corporate debt securities |  |  | 367,621 |  |  |  | — |  |  |  | 367,621 |  |  |  | — |
Time deposits |  |  | 52,507 |  |  |  | — |  |  |  | 52,507 |  |  |  | — |
Waters 401(k) Restoration Plan assets |  |  | 33,951 |  |  |  | 33,951 |  |  |  | — |  |  |  | — |
Foreign currency exchange contracts |  |  | 355 |  |  |  | — |  |  |  | 355 |  |  |  | — |
Interest rate cross-currency swap agreements |  |  | 7,120 |  |  |  | — |  |  |  | 7,120 |  |  |  | — |
Total |  | $ | 563,606 |  |  | $ | 33,951 |  |  | $ | 529,655 |  |  | $ | — |
Liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Contingent consideration |  | $ | 2,591 |  |  | $ | — |  |  | $ | — |  |  | $ | 2,591 |
Foreign currency exchange contracts |  |  | 619 |  |  |  | — |  |  |  | 619 |  |  |  | — |
Total |  | $ | 3,210 |  |  | $ | — |  |  | $ | 619 |  |  | $ | 2,591 |
The following table represents the Company’s assets and liabilities measured at fair value on a recurring basis at December 31, 2018 (in thousands):
|  |  |  |  | Quoted Prices |  |  |  |  |  |  |
|  |  |  |  | in Active |  |  | Significant |  |  |  |
|  |  |  |  | Markets |  |  | Other |  |  | Significant |
|  | Total at |  |  | for Identical |  |  | Observable |  |  | Unobservable |
|  | December 31, |  |  | Assets |  |  | Inputs |  |  | Inputs |
|  | 2018 |  |  | (Level 1) |  |  | (Level 2) |  |  | (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 |
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):
|  | March 30, 2019 |  |  | December 31, 2018 |
|  | Notional Value |  |  | Fair Value |  |  | Notional Value |  |  | Fair Value |
Foreign currency exchange contracts: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Other current assets |  | $ | 34,219 |  |  | $ | 355 |  |  | $ | 112,212 |  |  | $ | 503 |
Other current liabilities |  | $ | 98,745 |  |  | $ | 619 |  |  | $ | 40,175 |  |  | $ | 224 |
Interest rate cross-currency swap agreements: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Other assets |  | $ | 300,000 |  |  | $ | 7,120 |  |  | $ | 300,000 |  |  | $ | 1,093 |
Accumulated other comprehensive income |  |  |  |  |  | $ | (7,120 | ) |  |  |  |  |  | $ | (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 |  |  | Three Months Ended |
|  | March 30, 2019 |  |  | March 31, 2018 |
Foreign currency exchange contracts: |  |  |  |  |  |  |  |  |  |  |  |
Realized (losses) gains on closed contracts |  |  | Cost of sales |  |  | $ | (543 | ) |  | $ | 1,937 |
Unrealized gains (losses) on open contracts |  |  | Cost of sales |  |  |  | 526 |  |  |  | (985 | )
Cumulative net pre-tax (losses) gains |  |  | Cost of sales |  |  | $ | (17 | ) |  | $ | 952 |
Interest rate cross-currency swap agreements: |  |  |  |  |  |  |  |  |  |  |  |
Interest earned |  |  | Interest income |  |  | $ | 2,227 |  |  | $ | — |
Unrealized gains on contracts |  |  | Stockholders’ equity |  |  | $ | 7,120 |  |  | $ | — |
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 three months ended March 30, 2019 and March 31, 2018 (in thousands):
|  | Balance at |  |  |  |  |  |  |  |  | Balance at |
|  | Beginning |  |  | Accruals for |  |  | Settlements |  |  | End of |
|  | of Period |  |  | Warranties |  |  | Made |  |  | Period |
Accrued warranty liability: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
March 30, 2019 |  | $ | 12,300 |  |  | $ | 1,500 |  |  | $ | (2,338 | ) |  | $ | 11,462 |
March 31, 2018 |  | $ | 13,026 |  |  | $ | 1,767 |  |  | $ | (2,167 | ) |  | $ | 12,626 |

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