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Business Segment Information
 9 Months Ended
Sep. 26, 2020
Segment Reporting [Abstract]  
Business Segment Information
13 Business Segment Information
The Company’s business activities, for which discrete financial information is available, are regularly reviewed and evaluated by the chief operating decision maker. As a result of this evaluation, the Company determined that it has two operating segments: Waters
TM
and TA
TM
.
The Waters operating segment is primarily in the business of designing, manufacturing, selling and servicing LC and MS instruments, columns and other precision chemistry consumables that can be integrated and used along with other analytical instruments. The TA operating segment is primarily in the business of designing, manufacturing, selling and servicing thermal analysis, rheometry and calorimetry instruments. The Company’s two operating segments have similar economic characteristics; product processes; products and services; types and classes of customers; methods of distribution; and regulatory environments. Because of these similarities, the two segments have been aggregated into one reporting segment for financial statement purposes. Please refer to the consolidated financial statements for financial information regarding the one reportable segment of the Company.
Net sales for the Company’s products and services are as follows for the three and nine months ended September 26, 2020 and September 28, 2019 (in thousands):
 
    
Three Months Ended
     
Nine Months Ended
  
    
September 26,
2020
     
September 28,
2019
     
September 26,
2020
     
September 28,
2019
  
Product net sales:
            
Waters instrument systems
    $ 225,790      $ 223,859      $ 550,018      $ 647,248  
Chemistry consumables
      108,175        100,256        300,525        299,801  
TA instrument systems
      42,274        46,458        114,799        131,292  
  
 
 
     
 
 
     
 
 
     
 
 
  
Total product sales
      376,239        370,573        965,342        1,078,341  
Service net sales:
            
Waters service
      199,501        188,031        562,843        556,128  
TA service
      18,044        18,674        50,522        55,833  
  
 
 
     
 
 
     
 
 
     
 
 
  
Total service sales
      217,545        206,705        613,365        611,961  
  
 
 
     
 
 
     
 
 
     
 
 
  
Total net sales
    $ 593,784      $ 577,278      $ 1,578,707      $ 1,690,302  
  
 
 
     
 
 
     
 
 
     
 
 
  
Net sales are attributable to geographic areas based on the region of destination. Geographic sales information is presented below for the three and nine months ended September 26, 2020 and September 28, 2019 (in thousands):
 
    
Three Months Ended
     
Nine Months Ended
  
    
September 26,
2020
     
September 28,
2019
     
September 26,
2020
     
September 28,
2019
  
Net Sales:
            
Asia:
            
China
    $ 115,666      $ 111,657      $ 252,713      $ 314,544  
Japan
      44,779        46,840        131,098        136,302  
Asia Other
      75,737        79,278        219,660        226,276  
  
 
 
     
 
 
     
 
 
     
 
 
  
Total Asia
      236,182        237,775        603,471        677,122  
Americas:
            
United States
      172,267        164,164        465,093        487,261  
Americas Other
      27,180        32,294        81,312        97,840  
  
 
 
     
 
 
     
 
 
     
 
 
  
Total Americas
      199,447        196,458        546,405        585,101  
Europe
      158,155        143,045        428,831        428,079  
  
 
 
     
 
 
     
 
 
     
 
 
  
Total net sales
    $ 593,784      $ 577,278      $ 1,578,707      $ 1,690,302  
  
 
 
     
 
 
     
 
 
     
 
 
  
Net sales by customer class are as follows for the three and nine months ended September 26, 2020 and September 28, 2019 (in thousands):
 
    
Three Months Ended
     
Nine Months Ended
  
    
September 26,
2020
     
September 28,
2019
     
September 26,
2020
     
September 28,
2019
  
Pharmaceutical
    $ 343,001      $ 328,227      $ 926,582      $ 972,884  
Industrial
      179,128        171,352        474,592        502,679  
Academic and governmental
      71,655        77,699        177,533        214,739  
  
 
 
     
 
 
     
 
 
     
 
 
  
Total net sales
    $ 593,784      $ 577,278      $ 1,578,707      $ 1,690,302  
  
 
 
     
 
 
     
 
 
     
 
 
  
Net sales for the Company recognized at a point in time versus over time are as follows for the three and nine months ended September 26, 2020 and September 28, 2019 (in thousands):
 
    
Three Months Ended
     
Nine Months Ended
  
    
September 26,
2020
     
September 28,
2019
     
September 26,
2020
     
September 28,
2019
  
Net sales recognized at a point in time:
            
Instrument systems
    $ 268,064      $ 270,317      $ 664,817      $ 778,540  
Chemistry consumables
      108,175        100,256        300,525        299,801  
Service sales recognized at a point in time (time & materials)
      92,145        75,240        238,754        232,806  
  
 
 
     
 
 
     
 
 
     
 
 
  
Total net sales recognized at a point in time
      468,384        445,813        1,204,096        1,311,147  
Net sales recognized over time:
            
Service and software maintenance sales recognized over time (contracts)
      125,400        131,465        374,611        379,155  
  
 
 
     
 
 
     
 
 
     
 
 
  
Total net sales
    $ 593,784      $ 577,278      $ 1,578,707      $ 1,690,302