XML 39 R29.htm IDEA: XBRL DOCUMENT
v3.22.2

Stock-Based Compensation (Tables) | 6 Months Ended
--- | ---
Jul. 02, 2022
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] |
Schedule of Stock-Based Compensation Expense | The consolidated statements of operations for the three and six months ended July 2, 2022 and July 3, 2021 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 |  |  | Six Months Ended |
|  | July 2, 2022 |  |  | July 3, 2021 |  |  | July 2, 2022 |  |  | July 3, 2021 |
Cost of sales |  | $ | 915 |  |  | $ | 727 |  |  | $ | 1,942 |  |  | $ | 1,360 |
Selling and administrative expenses |  |  | 7,264 |  |  |  | 5,274 |  |  |  | 15,433 |  |  |  | 11,694 |
Research and development expenses |  |  | 1,610 |  |  |  | 1,290 |  |  |  | 3,347 |  |  |  | 2,542 |
Total stock-based compensation |  | $ | 9,789 |  |  | $ | 7,291 |  |  | $ | 20,722 |  |  | $ | 15,596 |
Summary of 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 six months ended July 2, 2022 and July 3, 2021 are as follows:
|  | Six Months Ended |
Options Issued and Significant Assumptions Used to Estimate Option Fair Values |  | July 2, 2022 |  |  | July 3, 2021 |
Options issued in thousands |  |  | 127 |  |  |  | 159 |
Risk-free interest rate |  |  | 1.9 | % |  |  | 0.8 | %
Expected life in years |  |  | 6 |  |  |  | 6 |
Expected volatility |  |  | 30.9 | % |  |  | 32.5 | %
Expected dividends |  |  | — |  |  |  | — |
Summary of Stock Options Outstanding Roll Forward |
|  | Six Months Ended |
Weighted-Average Exercise Price and Fair Value of Options on the Date of Grant |  | July 2, 2022 |  |  | July 3, 2021 |
Exercise price |  | $ | 321.91 |  |  | $ | 280.92 |
Fair value |  | $ | 107.76 |  |  | $ | 91.42 |
Summary of Stock Options Outstanding by Exercise Price Range | The following table summarizes stock option activity for the plans for the six months ended July 2, 2022 (in thousands, except per share data):
|  | Number of Shares |  |  | Exercise Price per Share |  |  | Weighted-Average Exercise Price per Share |
Outstanding at December 31, 2021 |  |  | 691 |  |  | $ | 88.71 |  |  | to |  | $ | 371.64 |  |  | $ | 202.24 |
Granted |  |  | 127 |  |  | $ | 314.98 |  |  | to |  | $ | 364.59 |  |  | $ | 321.91 |
Exercised |  |  | (150 | ) |  | $ | 88.71 |  |  | to |  | $ | 279.90 |  |  | $ | 170.44 |
Canceled |  |  | (18 | ) |  | $ | 203.37 |  |  | to |  | $ | 364.59 |  |  | $ | 250.27 |
Outstanding at July 2, 2022 |  |  | 650 |  |  | $ | 88.71 |  |  | to |  | $ | 371.64 |  |  | $ | 231.63 |
Summary of Restricted Stock Units Unvested Roll Forward | The following table summarizes the unvested restricted stock unit award activity for the six months ended July 2, 2022 (in thousands, except per share data):
|  | Shares |  |  | Weighted-Average Grant Date Fair Value per Share |
Unvested at December 31, 2021 |  |  | 245 |  |  | $ | 234.97 |
Granted |  |  | 94 |  |  | $ | 323.65 |
Vested |  |  | (71 | ) |  | $ | 220.07 |
Forfeited |  |  | (16 | ) |  | $ | 256.66 |
Unvested at July 2, 2022 |  |  | 252 |  |  | $ | 270.87 |
Summary of 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 six months ended July 2, 2022 and July 3, 2021 are as follows:
|  | Six Months Ended |
Performance Stock Units Issued and Significant Assumptions Used to Estimate Fair Values |  | July 2, 2022 |  |  | July 3, 2021 |
Performance stock units issued (in thousands) |  |  | 40 |  |  |  | 41 |
Risk-free interest rate |  |  | 1.6 | % |  |  | 0.2 | %
Expected life in years |  |  | 2.9 |  |  |  | 2.9 |
Expected volatility |  |  | 25.4 | % |  |  | 38.7 | %
Average volatility of peer companies |  |  | 34.5 | % |  |  | 34.7 | %
Correlation coefficient |  |  | 43.0 | % |  |  | 45.8 | %
Expected dividends |  |  | — |  |  |  | — |
Summary of Performance Stock Units Unvested Roll Forward | The following table summarizes the unvested performance stock unit award activity for the six months ended July 2, 2022 (in thousands, except per share data):
|  | Shares |  |  | Weighted-Average Fair Value per Share |
Unvested at December 31, 2021 |  |  | 87 |  |  | $ | 285.73 |
Granted |  |  | 40 |  |  | $ | 313.21 |
Vested |  |  | (24 | ) |  | $ | 308.71 |
Forfeited |  |  | 10 |  |  | $ | 370.15 |
Unvested at July 2, 2022 |  |  | 113 |  |  | $ | 298.05 |

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 https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901 + Details
Name: | us-gaap_ScheduleOfEmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types: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 https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901 + Details
Name: | us-gaap_ScheduleOfNonvestedRestrictedStockUnitsActivityTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types: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 https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901 + Details
Name: | us-gaap_ScheduleOfShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types: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 https://asc.fasb.org/extlink&oid=128089324&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 https://asc.fasb.org/extlink&oid=128089324&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 https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901 + Details
Name: | us-gaap_ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types: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 https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901 + Details
Name: | us-gaap_ScheduleOfShareBasedPaymentAwardStockOptionsValuationAssumptionsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types: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 https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901 + Details
Name: | us-gaap_ShareBasedCompensationPerformanceSharesAwardUnvestedActivityTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types: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: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration