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

12 Months Ended

Dec. 31, 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 year ended December 31, 2019, 2018 and 2017 (in thousands):

		Balance at Beginning of Period				Additions				Deduction				Balance at End of Period
Allowance for Doubtful Accounts
December 31, 2019		$	7,663			$	4,701			$	(2,804	)		$	9,560
December 31, 2018		$	6,109			$	6,333			$	(4,779	)		$	7,663
December 31, 2017		$	5,141			$	3,752			$	(2,784	)		$	6,109

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, 2019 (in thousands):

		Total at December 31, 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		$	1,642			$	—			$	1,642			$	—
Waters 401(k) Restoration Plan assets			30,158				30,158				—				—
Foreign currency exchange contracts			16				—				16				—
Interest rate cross-currency swap agreements			4,485				—				4,485				—
Total		$	36,301			$	30,158			$	6,143			$	—
Liabilities:
Contingent consideration		$	2,557			$	—			$	—			$	2,557
Foreign currency exchange contracts			1,028				—				1,028				—
Total		$	3,585			$	—			$	1,028			$	2,557

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):

		December 31, 2019								December 31, 2018
		Notional Value				Fair Value				Notional Value				Fair Value
Foreign currency exchange contracts:
Other current assets		$	119,576			$	16			$	112,212			$	503
Other current liabilities		$	29,495			$	1,028			$	40,175			$	224
Interest rate cross-currency swap agreements:
Other assets		$	560,000			$	4,485			$	300,000			$	1,093
Accumulated other comprehensive income						$	(4,485	)						$	(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,
						2019				2018				2017
Foreign currency exchange contracts:
Realized (losses) gains on closed contracts			Cost of sales			$	(3,552	)		$	(6,684	)		$	3,894
Unrealized (losses) gains on open contracts			Cost of sales				(1,292	)			(105	)			1,054
Cumulative net pre-tax (losses) gains			Cost of sales			$	(4,844	)		$	(6,789	)		$	4,948
Interest rate cross-currency swap agreements:
Interest earned			Interest income			$	11,709			$	2,713			$	—
Unrealized gains on open contracts			Stockholders’ (deficit) equity			$	4,485			$	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, 2019, 2018 and 2017 (in thousands):

		Balance at Beginning of Period				Accruals for Warranties				Settlements Made				Balance at End of Period
Accrued warranty liability:
December 31, 2019		$	12,300			$	7,540			$	(7,876	)		$	11,964
December 31, 2018		$	13,026			$	5,033			$	(5,759	)		$	12,300
December 31, 2017		$	13,391			$	8,746			$	(9,111	)		$	13,026

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