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Basis of Presentation and Summary of Significant Accounting Policies (Tables) | 9 Months Ended
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Sep. 27, 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 nine months ended September 27, 2025 and September 28, 2024 (in thousands):
|  | Balance at Beginning of Period |  |  | Additions |  |  | Deductions and Other |  |  | Balance at End of Period |
Allowance for Credit Losses |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
September 27, 2025 |  | $ | 14,269 |  |  | $ | 3,797 |  |  | $ | (5,549 | ) |  | $ | 12,517 |
September 28, 2024 |  | $ | 19,335 |  |  | $ | 4,109 |  |  | $ | (7,451 | ) |  | $ | 15,993 |
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 September 27, 2025 (in thousands):
|  | Total at September 27, 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 |  | $ | 31,494 |  |  | $ | 31,494 |  |  | $ | — |  |  | $ | — |
Foreign currency exchange contracts |  |  | 146 |  |  |  | — |  |  |  | 146 |  |  |  | — |
Interest rate cross-currency swap agreements |  |  | 130 |  |  |  | — |  |  |  | 130 |  |  |  | — |
Interest rate swap cash flow hedge |  |  | 122 |  |  |  | — |  |  |  | 122 |  |  |  | — |
Total |  | $ | 31,892 |  |  | $ | 31,494 |  |  | $ | 398 |  |  | $ | — |
Liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Foreign currency exchange contracts |  | $ | 542 |  |  | $ | — |  |  | $ | 542 |  |  | $ | — |
Interest rate cross-currency swap agreements |  |  | 50,643 |  |  |  | — |  |  |  | 50,643 |  |  |  | — |
Interest rate swap cash flow hedge |  |  | 2,423 |  |  |  | — |  |  |  | 2,423 |  |  |  | — |
Total |  | $ | 53,608 |  |  | $ | — |  |  | $ | 53,608 |  |  | $ | — |
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):
|  | September 27, 2025 |  |  | December 31, 2024 |
|  | Notional Value |  |  | Fair Value |  |  | Notional Value |  |  | Fair Value |
Foreign currency exchange contracts: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Other current assets |  | $ | 18,499 |  |  | $ | 146 |  |  | $ | 14,999 |  |  | $ | 482 |
Other current liabilities |  | $ | 49,757 |  |  | $ | 542 |  |  | $ | 24,749 |  |  | $ | 261 |
Interest rate cross-currency swap agreements: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Other assets |  | $ | 90,000 |  |  | $ | 130 |  |  | $ | 625,000 |  |  | $ | 26,196 |
Other liabilities |  | $ | 640,000 |  |  | $ | 50,643 |  |  | $ | — |  |  | $ | — |
Accumulated other comprehensive (loss) income |  |  |  |  |  | $ | (49,937 | ) |  |  |  |  |  | $ | 32,979 |
Interest rate swap cash flow hedges: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Other assets |  | $ | 50,000 |  |  | $ | 122 |  |  | $ | 100,000 |  |  | $ | 503 |
Other liabilities |  | $ | 100,000 |  |  | $ | 2,423 |  |  | $ | 50,000 |  |  | $ | 641 |
Accumulated other comprehensive (loss) income |  |  |  |  |  | $ | (2,301 | ) |  |  |  |  |  | $ | (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):
|  |  |  |  | Three Months Ended |  |  | Nine Months Ended |
|  | Financial Statement Classification |  |  | September 27, 2025 |  |  | September 28, 2024 |  |  | September 27, 2025 |  |  | September 28, 2024 |
Foreign currency exchange contracts: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Realized (losses) gains on closed contracts |  |  | Cost of sales |  |  | $ | (23 | ) |  | $ | (138 | ) |  | $ | (1,421 | ) |  | $ | 914 |
Unrealized (losses) gains on open contracts |  |  | Cost of sales |  |  |  | (922 | ) |  |  | (26 | ) |  |  | (618 | ) |  |  | 39 |
Cumulative net pre-tax (losses) gains |  |  | Cost of sales |  |  | $ | (945 | ) |  | $ | (164 | ) |  | $ | (2,039 | ) |  | $ | 953 |
Interest rate cross-currency swap agreements: |  |  |  |  |  |  |  |  |  |  |  |  |
Interest earned |  |  | Interest income |  |  | $ | 3,076 |  |  | $ | 2,486 |  |  | $ | 8,145 |  |  | $ | 7,613 |
Unrealized gains (losses) on open contracts |  |  | Other comprehensive income |  |  | $ | 471 |  |  | $ | (28,339 | ) |  | $ | (82,917 | ) |  | $ | (6,775 | )
Interest rate swap cash flow hedges: |  |  |  |  |  |  |  |  |  |  |  |  |
Interest earned |  |  | Interest income |  |  | $ | 120 |  |  | $ | 366 |  |  | $ | 431 |  |  | $ | 940 |
Unrealized losses on open contracts |  |  | Other comprehensive income |  |  | $ | (32 | ) |  | $ | (3,391 | ) |  | $ | (2,163 | ) |  | $ | (731 | )
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 nine months ended September 27, 2025 and September 28, 2024 (in thousands):
|  | Balance at Beginning of Period |  |  | Accruals for Warranties |  |  | Settlements Made |  |  | Balance at End of Period |
Accrued warranty liability: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
September 27, 2025 |  | $ | 11,602 |  |  | $ | 4,658 |  |  | $ | (4,691 | ) |  | $ | 11,569 |
September 28, 2024 |  | $ | 12,050 |  |  | $ | 3,812 |  |  | $ | (5,371 | ) |  | $ | 10,491 |

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