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Basis of Presentation and Summary of Significant Accounting Policies (Tables) | 9 Months Ended
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Sep. 28, 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 nine months ended September 28, 2019 and September 29, 2018 (in thousands):
|  | Balance at Beginning of Period |  |  | Additions |  |  | Deduction |  |  | Balance at End of Period |
Allowance for Doubtful Accounts |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
September 28, 2019 |  | $ | 7,663 |  |  | $ | 6,014 |  |  | $ | (5,461 | ) |  | $ | 8,216 |
September 29, 2018 |  | $ | 6,109 |  |  | $ | 2,752 |  |  | $ | (2,175 | ) |  | $ | 6,686 |
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 28, 2019 (in thousands):
|  | Total at September 28, 2019 |  |  | Quoted Prices in Active Markets for Identical Assets (Level 1) |  |  | Significant Other Observable Inputs (Level 2) |  |  | Significant Unobservable Inputs (Level 3) |
Assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Time deposits |  |  | 213 |  |  |  | — |  |  |  | 213 |  |  |  | — |
Waters 401(k) Restoration Plan assets |  |  | 32,796 |  |  |  | 32,796 |  |  |  | — |  |  |  | — |
Foreign currency exchange contracts |  |  | 66 |  |  |  | — |  |  |  | 66 |  |  |  | — |
Interest rate cross-currency swap agreements |  |  | 16,945 |  |  |  | — |  |  |  | 16,945 |  |  |  | — |
Total |  | $ | 50,020 |  |  | $ | 32,796 |  |  | $ | 17,224 |  |  | $ | — |
Liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Contingent consideration |  | $ | 2,822 |  |  | $ | — |  |  | $ | — |  |  | $ | 2,822 |
Foreign currency exchange contracts |  |  | 826 |  |  |  | — |  |  |  | 826 |  |  |  | — |
Total |  | $ | 3,648 |  |  | $ | — |  |  | $ | 826 |  |  | $ | 2,822 |
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 |
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 28, 2019 |  |  | December 31, 2018 |
|  | Notional Value |  |  | Fair Value |  |  | Notional Value |  |  | Fair Value |
Foreign currency exchange contracts: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Other current assets |  | $ | 24,000 |  |  | $ | 66 |  |  | $ | 112,212 |  |  | $ | 503 |
Other current liabilities |  | $ | 121,580 |  |  | $ | 826 |  |  | $ | 40,175 |  |  | $ | 224 |
Interest rate cross-currency swap agreements: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Other assets |  | $ | 410,000 |  |  | $ | 16,945 |  |  | $ | 300,000 |  |  | $ | 1,093 |
Accumulated other comprehensive income |  |  |  |  |  | $ | 16,945 |  |  |  |  |  |  | $ | 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 |  |  | Three Months Ended |  |  | Nine Months Ended |
|  | Statement Classification |  |  | September 28, 2019 |  |  | September 29, 2018 |  |  | September 28, 2019 |  |  | September 29, 2018 |
Foreign currency exchange contracts: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Realized losses on closed contracts |  | Cost of sales |  |  | $ | (3,340 | ) |  | $ | (23 | ) |  | $ | (5,858 | ) |  | $ | (2,158 | )
Unrealized losses on open contracts |  | Cost of sales |  |  |  | (633 | ) |  |  | (5 | ) |  |  | (1,040 | ) |  |  | (1,092 | )
Cumulative net pre-tax losses |  | Cost of sales |  |  | $ | (3,973 | ) |  | $ | (28 | ) |  | $ | (6,898 | ) |  | $ | (3,250 | )
Interest rate cross-currency swap agreements: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest earned |  | Interest income |  |  | $ | 2,698 |  |  | $ | 927 |  |  | $ | 7,848 |  |  | $ | 927 |
Unrealized gains on open contracts |  | Stockholders’ equity |  |  | $ | 15,847 |  |  | $ | 767 |  |  | $ | 15,852 |  |  | $ | 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 28, 2019 and September 29, 2018 (in thousands):
|  | Balance at Beginning of Period |  |  | Accruals for Warranties |  |  | Settlements Made |  |  | Balance at End of Period |
Accrued warranty liability: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
September 28, 2019 |  | $ | 12,300 |  |  | $ | 5,271 |  |  | $ | (6,094 | ) |  | $ | 11,477 |
September 29, 2018 |  | $ | 13,026 |  |  | $ | 6,068 |  |  | $ | (6,901 | ) |  | $ | 12,193 |

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- Definition Tabular disclosure of the changes in the guarantor's aggregate product warranty liability, including the beginning balance of the aggregate product warranty liability, the aggregate reductions in that liability for payments made (in cash or in kind) under the warranty, the aggregate changes in the liability for accruals related to product warranties issued during the reporting period, the aggregate changes in the liability for accruals related to preexisting warranties (including adjustments related to changes in estimates), and the ending balance of the aggregate product warranty liability. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 460 -SubTopic 10 -Section 50 -Paragraph 8 -URI http://asc.fasb.org/extlink&oid=68068213&loc=d3e12565-110249 + Details
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