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

6 Months Ended

Jun. 28, 2025

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 credit losses for the six months ended June 28, 2025 and June 29, 2024 (in thousands):

		Balance at Beginning of Period				Additions				Deductions and Other				Balance at End of Period
Allowance for Credit Losses
June 28, 2025		$	14,269			$	4,032			$	(4,820	)		$	13,481
June 29, 2024		$	19,335			$	1,691			$	(6,882	)		$	14,144

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 June 28, 2025 (in thousands):

		Total at June 28, 2025				Quoted Prices in Active Markets for Identical Assets (Level 1)				Significant Other Observable Inputs (Level 2)				Significant Unobservable Inputs (Level 3)
Assets:
Waters 401(k) Restoration Plan assets		$	30,036			$	30,036			$	—			$	—
Foreign currency exchange contracts			656				—				656				—
Interest rate cross-currency swap agreements			216				—				216				—
Interest rate swap cash flow hedge			189				—				189				—
Total		$	31,097			$	30,036			$	1,061			$	—
Liabilities:
Foreign currency exchange contracts		$	130			$	—			$	130			$	—
Interest rate cross-currency swap agreements			54,404				—				54,404				—
Interest rate swap cash flow hedge			2,458				—				2,458				—
Total		$	56,992			$	—			$	56,992			$	—

The following table represents the Company’s assets and liabilities measured at fair value on a recurring basis at December 31, 2024 (in thousands):

		Total at December 31, 2024				Quoted Prices in Active Markets for Identical Assets (Level 1)				Significant Other Observable Inputs (Level 2)				Significant Unobservable Inputs (Level 3)
Assets:
Waters 401(k) Restoration Plan assets		$	30,137			$	30,137			$	—			$	—
Foreign currency exchange contracts			482				—				482				—
Interest rate cross-currency swap agreements			26,196				—				26,196				—
Interest rate swap cash flow hedge			503				—				503				—
Total		$	57,318			$	30,137			$	27,181			$	—
Liabilities:
Foreign currency exchange contracts		$	261			$	—			$	261			$	—
Interest rate swap cash flow hedge			641				—				641				—
Total		$	902			$	—			$	902			$	—

Summary of Foreign Currency Exchange Contracts and Interest Rate Cross-Currency Swap Agreements

The Company’s foreign currency exchange contracts, interest rate cross-currency swap agreements and interest rate swap agreements designated as cash flow hedges included in the consolidated balance sheets are classified as follows (in thousands):

		June 28, 2025								December 31, 2024
		Notional Value				Fair Value				Notional Value				Fair Value
Foreign currency exchange contracts:
Other current assets		$	65,483			$	656			$	14,999			$	482
Other current liabilities		$	23,000			$	130			$	24,749			$	261
Interest rate cross-currency swap agreements:
Other assets		$	25,000			$	216			$	625,000			$	26,196
Other liabilities		$	680,000			$	54,404			$	—			$	—
Accumulated other comprehensive (loss) income						$	(50,409	)						$	32,979
Interest rate swap cash flow hedges:
Other assets		$	50,000			$	189			$	100,000			$	503
Other liabilities		$	100,000			$	2,458			$	50,000			$	641
Accumulated other comprehensive (loss) income						$	(2,269	)						$	(138	)

Gains (Losses) on Foreign Exchange Contracts

The following is a summary of the activity included in the consolidated statements of operations and statements of comprehensive income related to the foreign currency exchange contracts, interest rate cross-currency swap agreements and interest rate swap agreements designated as cash flow hedges (in thousands):

		Financial		Three Months Ended								Six Months Ended
		Statement		June 28, 2025				June 29, 2024				June 28, 2025				June 29, 2024
		Classification
Foreign currency exchange contracts:
Realized (losses) gains on closed contracts		Cost of sales		$	(783	)		$	794			$	(1,398	)		$	1,051
Unrealized gains on open contracts		Cost of sales			798				117				304				66
Cumulative net pre-tax gains (losses)		Cost of sales		$	15			$	911			$	(1,094	)		$	1,117
Interest rate cross-currency swap agreements:
Interest earned		Interest income		$	2,698			$	2,590			$	5,069			$	5,127
Unrealized (losses) gains on open contracts		Other comprehensive income		$	(56,201	)		$	6,647			$	(83,388	)		$	21,564
Interest rate swap cash flow hedges:
Interest earned		Interest income		$	136			$	278			$	311			$	574
Unrealized (losses) gains on open contracts		Other comprehensive income		$	(632	)		$	551			$	(2,131	)		$	2,660

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 six months ended June 28, 2025 and June 29, 2024 (in thousands):

		Balance at Beginning of Period				Accruals for Warranties				Settlements Made				Balance at End of Period
Accrued warranty liability:
June 28, 2025		$	11,602			$	3,059			$	(2,734	)		$	11,927
June 29, 2024		$	12,050			$	1,880			$	(3,493	)		$	10,437

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