XML 47 R30.htm IDEA: XBRL DOCUMENT v3.21.1

Stock-Based Compensation (Tables)

3 Months Ended

Apr. 03, 2021

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Schedule of Stock-Based Compensation Expense

The consolidated statements of operations for the three months ended April 3, 2021 and March 28, 2020 include the following stock-based compensation expense related to stock option awards, restricted stock awards, restricted stock unit awards, performance stock unit awards and the employee stock purchase plan (in thousands):

		Three Months Ended
		April 3, 2021				March 28, 2020
Cost of sales		$	633			$	570
Selling and administrative expenses			6,420				7,373
Research and development expenses			1,252				1,253
Total stock-based compensation		$	8,305			$	9,196

Relevant Data Used to Determine the Value of Stock Options Granted During the Period

The relevant data used to determine the value of the stock options granted during the three months ended April 3, 2021 and March 28, 2020 are as follows:

		Three Months Ended
Options Issued and Significant Assumptions Used to Estimate Option Fair Values		April 3, 2021				March 28, 2020
Options issued in thousands			139				227
Risk-free interest rate			0.8	%			1.4	%
Expected life in years			6				6
Expected volatility			33.1	%			26.5	%
Expected dividends			—				—

Stock Options Outstanding Roll Forward

		Three Months Ended
Weighted-Average Exercise Price and Fair Value of Options on the Date of Grant		April 3, 2021				March 28, 2020
Exercise price		$	277.32			$	216.08
Fair value		$	91.63			$	61.70

Stock Options Outstanding by Exercise Price Range

The following table summarizes stock option activity for the plans for the three months ended April 3, 2021 (in thousands, except per share data):

		Number of Shares				Exercise Price per Share										Weighted-Average Exercise Price per Share
Outstanding at December 31, 2020			1,067			$	75.94			to		$	238.52			$	179.59
Granted			139			$	250.15			to		$	280.80			$	277.32
Exercised			(95	)		$	99.22			to		$	238.52			$	159.10
Canceled			(125	)		$	139.51			to		$	224.37			$	183.98
Outstanding at April 3, 2021			986			$	75.94			to		$	266.05			$	194.77

Restricted Stock Units Unvested Roll Forward

The following table summarizes the unvested restricted stock unit award activity for the three months ended April 3, 2021 (in thousands, except per share data):

		Shares				Weighted-Average Grant Date Fair Value per Share
Unvested at December 31, 2020			271			$	202.00
Granted			76			$	279.66
Vested			(80	)		$	182.14
Forfeited			(3	)		$	210.35
Unvested at April 3, 2021			264			$	230.28

Restricted stock units are generally granted annually in February and vest in equal annual installments over a five-year period.

Relevant Data Used to Determine the Value of Performance Shares

The relevant data used to determine the value of the performance stock units granted during the three months ended April 3, 2021 and March 28, 2020 are as follows:

		Three Months Ended
Performance Stock Units Issued and Significant Assumptions Used to Estimate Fair Values		April 3, 2021				March 28, 2020
Performance stock units issued (in thousands)			41				58
Risk-free interest rate			0.2	%			1.3	%
Expected life in years			2.9				2.9
Expected volatility			38.7	%			25.1	%
Average volatility of peer companies			34.7	%			26.1	%
Correlation coefficient			45.8	%			36.6	%
Expected dividends			—				—

Performance Stock Units Unvested Roll Forward

The following table summarizes the unvested performance stock unit award activity for the three months ended April 3, 2021 (in thousands, except per share data):

		Shares				Weighted-Average Fair Value per Share
Unvested at December 31, 2020			95			$	230.36
Granted			41			$	315.98
Vested			(5	)		$	242.94
Forfeited			(33	)		$	228.24
Unvested at April 3, 2021			98			$	266.25

X

- References

No definition available.

+ Details

Name:	us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of allocation of amount expensed and capitalized for award under share-based payment arrangement to statement of income or comprehensive income and statement of financial position. Includes, but is not limited to, corresponding line item in financial statement.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (h)(1)
-URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SAB Topic 14.F)
-URI http://asc.fasb.org/extlink&oid=115993241&loc=d3e301413-122809

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5047-113901

+ Details

Name:	us-gaap_ScheduleOfEmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the changes in outstanding nonvested restricted stock units.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (c)(2)
-URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901

+ Details

Name:	us-gaap_ScheduleOfNonvestedRestrictedStockUnitsActivityTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of option exercise prices, by grouped ranges, including the upper and lower limits of the price range, the number of shares under option, weighted average exercise price and remaining contractual option terms.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901

+ Details

Name:	us-gaap_ScheduleOfShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure for stock option plans. Includes, but is not limited to, outstanding awards at beginning and end of year, grants, exercises, forfeitures, and weighted-average grant date fair value.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (d)
-URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (e)
-URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (c)(1)
-URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901

+ Details

Name:	us-gaap_ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the significant assumptions used during the year to estimate the fair value of stock options, including, but not limited to: (a) expected term of share options and similar instruments, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (f)(2)
-URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901

+ Details

Name:	us-gaap_ScheduleOfShareBasedPaymentAwardStockOptionsValuationAssumptionsTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of number and weighted-average grant date fair value for nonvested performance shares.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901

+ Details

Name:	us-gaap_ShareBasedCompensationPerformanceSharesAwardUnvestedActivityTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Schedule of share based payment award performance stock units valuation assumptions.

+ References

No definition available.

+ Details

Name:	wat_ScheduleOfShareBasedPaymentAwardPerformanceStockUnitsValuationAssumptionsTableTextBlock
Namespace Prefix:	wat_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration