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Business Segment Information
 3 Months Ended
Apr. 02, 2022
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 months ended April 2, 2022 and April 3, 2021 (in thousands):
 
    
Three Months Ended
  
    
April 2, 2022
     
April 3, 2021
  
Product net sales:
                  
Waters instrument systems
    $ 269,962      $ 216,072  
Chemistry consumables
      125,618        118,974  
TA instrument systems
      55,260        46,976  
    
 
 
     
 
 
  
Total product sales
      450,840        382,022  
     
Service net sales:
                  
Waters service
      217,576        206,832  
TA service
      22,156        19,691  
    
 
 
     
 
 
  
Total service sales
      239,732        226,523  
    
 
 
     
 
 
  
Total net sales
    $ 690,572      $ 608,545  
    
 
 
     
 
 
  
Net sales are attributable to geographic areas based on the region of destination. Geographic sales information is presented below for the three months ended April 2, 2022 and April 3, 2021 (in thousands):
 
    
Three Months Ended
  
    
April 2, 2022
     
April 3, 2021
  
Net Sales:
                  
Asia:
                  
China
    $ 121,032      $ 102,919  
Japan
      48,623        50,296  
Asia Other
      84,679        76,327  
    
 
 
     
 
 
  
Total Asia
      254,334        229,542  
Americas:
                  
United States
      208,713        162,433  
Americas Other
      40,124        34,924  
    
 
 
     
 
 
  
Total Americas
      248,837        197,357  
Europe
      187,401        181,646  
    
 
 
     
 
 
  
Total net sales
    $ 690,572      $ 608,545  
    
 
 
     
 
 
  
Net sales by customer class are as follows for the three months ended April 2, 2022 and April 3, 2021 (in thousands):
 
    
Three Months Ended
  
    
April 2, 2022
     
April 3, 2021
  
Pharmaceutical
    $ 415,772      $ 360,148  
Industrial
      209,397        183,273  
Academic and government
      65,403        65,124  
    
 
 
     
 
 
  
Total net sales
    $ 690,572      $ 608,545  
    
 
 
     
 
 
  
Net sales for the Company recognized at a point in time versus over time are as follows for the three months ended April 2, 2022 and April 3, 2021 (in thousands):
 
    
Three Months Ended
  
    
April 2, 2022
     
April 3, 2021
  
Net sales recognized at a point in time:
                  
Instrument systems
    $ 325,222      $ 263,048  
Chemistry consumables
      125,618        118,974  
Service sales recognized at a point in time (time & materials)
      85,778        79,287  
    
 
 
     
 
 
  
Total net sales recognized at a point in time
      536,618        461,309  
     
Net sales recognized over time:
                  
Service and software sales recognized over time (contracts)
      153,954        147,236  
    
 
 
     
 
 
  
Total net sales
    $ 690,572      $ 608,545