XML 18 R9.htm IDEA: XBRL DOCUMENT
v3.22.2.2

Revenue from Contracts with Customers (Notes) | 9 Months Ended
--- | ---
Sep. 30, 2022
Revenue from Contract with Customer [Abstract] |
Revenue from Contract with Customer [Text Block] | REVENUE The Company disaggregates revenue from contracts with customers by product, service, timing of revenue recognition and geography. A summary of revenue by the Company’s reportable segments for the three and nine months ended September 30, 2022 and 2021 follows:
For the three months ended September 30, 2022 | U.S. Operations |  | Swiss Operations |  | Western European Operations |  | Chinese Operations |  | Other Operations |  | Total
Product Revenue | $ | 287,948 |  |  | $ | 32,366 |  |  | $ | 129,089 |  |  | $ | 212,163 |  |  | $ | 122,421 |  |  | $ | 783,987 |
Service Revenue: |  |  |  |  |  |  |  |  |  |  |
Point in time | 65,596 |  |  | 6,401 |  |  | 29,071 |  |  | 13,543 |  |  | 30,248 |  |  | 144,859 |
Over time | 20,220 |  |  | 2,205 |  |  | 22,799 |  |  | 4,016 |  |  | 7,760 |  |  | 57,000 |
Total | $ | 373,764 |  |  | $ | 40,972 |  |  | $ | 180,959 |  |  | $ | 229,722 |  |  | $ | 160,429 |  |  | $ | 985,846 |
For the three months ended September 30, 2021 | U.S. Operations |  | Swiss Operations |  | Western European Operations |  | Chinese Operations |  | Other Operations |  | Total
Product Revenue | $ | 263,885 |  |  | $ | 33,612 |  |  | $ | 142,318 |  |  | $ | 193,727 |  |  | $ | 127,302 |  |  | $ | 760,844 |
Service Revenue: |  |  |  |  |  |  |  |  |  |  |
Point in time | 56,325 |  |  | 6,092 |  |  | 37,524 |  |  | 12,680 |  |  | 30,120 |  |  | 142,741 |
Over time | 16,498 |  |  | 2,146 |  |  | 18,790 |  |  | 4,053 |  |  | 6,878 |  |  | 48,365 |
Total | $ | 336,708 |  |  | $ | 41,850 |  |  | $ | 198,632 |  |  | $ | 210,460 |  |  | $ | 164,300 |  |  | $ | 951,950 |
For the nine months ended September 30, 2022 | U.S. Operations |  | Swiss Operations |  | Western European Operations |  | Chinese Operations |  | Other Operations |  | Total
Product Revenue | $ | 816,193 |  |  | $ | 99,567 |  |  | $ | 404,060 |  |  | $ | 593,283 |  |  | $ | 357,742 |  |  | $ | 2,270,845 |
Service Revenue: |  |  |  |  |  |  |  |  |  |  |
Point in time | 190,340 |  |  | 20,072 |  |  | 97,250 |  |  | 34,578 |  |  | 89,390 |  |  | 431,630 |
Over time | 54,197 |  |  | 6,665 |  |  | 62,798 |  |  | 14,376 |  |  | 21,513 |  |  | 159,549 |
Total | $ | 1,060,730 |  |  | $ | 126,304 |  |  | $ | 564,108 |  |  | $ | 642,237 |  |  | $ | 468,645 |  |  | $ | 2,862,024 |
For the nine months ended September 30, 2021 | U.S. Operations |  | Swiss Operations |  | Western European Operations |  | Chinese Operations |  | Other Operations |  | Total
Product Revenue | $ | 721,744 |  |  | $ | 95,797 |  |  | $ | 424,904 |  |  | $ | 525,855 |  |  | $ | 355,945 |  |  | $ | 2,124,245 |
Service Revenue: |  |  |  |  |  |  |  |  |  |  |
Point in time | 162,409 |  |  | 19,517 |  |  | 110,243 |  |  | 34,655 |  |  | 87,708 |  |  | 414,532 |
Over time | 47,824 |  |  | 6,653 |  |  | 57,557 |  |  | 11,545 |  |  | 18,335 |  |  | 141,914 |
Total | $ | 931,977 |  |  | $ | 121,967 |  |  | $ | 592,704 |  |  | $ | 572,055 |  |  | $ | 461,988 |  |  | $ | 2,680,691 |
A summary of revenue by major geographic destination for the three and nine months ended September 30 follows:
| Three Months Ended |  | Nine Months Ended
| 2022 |  | 2021 |  | 2022 |  | 2021
Americas | $ | 408,207 |  |  | $ | 367,278 |  |  | $ | 1,154,602 |  |  | $ | 1,024,033 |
Europe | 228,145 |  |  | 258,925 |  |  | 720,667 |  |  | 760,491 |
Asia / Rest of World | 349,494 |  |  | 325,747 |  |  | 986,755 |  |  | 896,167 |
Total | $ | 985,846 |  |  | $ | 951,950 |  |  | $ | 2,862,024 |  |  | $ | 2,680,691 |
The Company's global revenue mix by product category is comprised of laboratory (56% of sales), industrial (39% of sales) and retail (5% of sales). The Company's product revenue by reportable segment is proportionately similar to the Company's global mix except the Company's Swiss Operations is largely comprised of laboratory products while the Company's Chinese Operations has a slightly higher percentage of industrial products. A summary of the Company’s revenue by product category for the three and nine months ended September 30 is as follows:
| Three Months Ended |  | Nine Months Ended
| 2022 |  | 2021 |  | 2022 |  | 2021
Laboratory | $ | 555,112 |  |  | $ | 536,489 |  |  | $ | 1,614,586 |  |  | $ | 1,487,222 |
Industrial | 386,543 |  |  | 370,505 |  |  | 1,114,454 |  |  | 1,049,295 |
Retail | 44,191 |  |  | 44,956 |  |  | 132,984 |  |  | 144,174 |
Total | $ | 985,846 |  |  | $ | 951,950 |  |  | $ | 2,862,024 |  |  | $ | 2,680,691 |
The payment terms in the Company’s contracts with customers do not exceed one year and therefore contracts do not contain a significant financing component. In most cases, after appropriate credit evaluations, payments are due in arrears and are recognized as receivables. Unbilled revenue is recorded when performance obligations have been satisfied, but not yet billed to the customer. Unbilled revenue as of September 30, 2022 and December 31, 2021 was $34.7 million and $32.1 million, respectively, and is included within accounts receivable. Deferred revenue and customer prepayments are recorded when cash payments are received or due in advance of the performance obligation being satisfied. Deferred revenue primarily includes prepaid service contracts, as well as deferred installation. Changes in the components of deferred revenue and customer prepayments during the nine month periods ending September 30, 2022 and 2021 are as follows:
|  | 2022 |  | 2021
Beginning balances as of January 1 |  | $ | 192,648 |  |  | $ | 149,106 |
Customer pre-payments/deferred revenue |  | 545,997 |  |  | 496,437 |
Revenue recognized |  | (523,022) |  |  | (446,775) |
Foreign currency translation |  | (17,444) |  |  | (3,534) |
Ending balance as of September 30 |  | $ | 198,179 |  |  | $ | 195,234 |
The Company generally expenses sales commissions when incurred because the amortization period is one year or less. These costs are recorded within selling, general, and administrative expenses. The Company has not disclosed the value of unsatisfied performance obligations other than customer prepayments and deferred revenue above as most contracts have an expected length of one year or less and amounts greater than one year are immaterial.

X
- References No definition available. + Details
Name: | us-gaap_RevenueFromContractWithCustomerAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -URI https://asc.fasb.org/topic&trid=49130388 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 10 -URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130551-203045 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 13 -Subparagraph (b)(2) -URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130556-203045 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 12 -Subparagraph (b) -URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130554-203045 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 9 -URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130550-203045 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 12 -Subparagraph (e) -URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130554-203045 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 12 -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130554-203045 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 12 -Subparagraph (d) -URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130554-203045 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 15 -URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130558-203045 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 12 -Subparagraph (c) -URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130554-203045 + Details
Name: | us-gaap_RevenueFromContractWithCustomerTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration