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Revenue from Contracts with Customers (Notes)
 9 Months Ended
Sep. 30, 2025
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, 2025 and 2024 follows:
For the three months ended September 30, 2025U.S. OperationsSwiss OperationsWestern European OperationsChinese OperationsOther OperationsTotal
Product Revenue$278,252 $39,832 $152,897 $150,526 $145,141 $766,648 
Service Revenue:
Point in time
80,158 8,800 48,323 11,795 42,215 191,291 
Over time
27,440 3,440 25,956 4,643 10,281 71,760 
Total$385,850 $52,072 $227,176 $166,964 $197,637 $1,029,699 
For the three months ended September 30, 2024U.S. OperationsSwiss OperationsWestern European OperationsChinese OperationsOther OperationsTotal
Product Revenue$253,663 $42,311 $135,271 $147,851 $136,497 $715,593 
Service Revenue:
Point in time
72,240 7,969 43,250 11,852 36,370 171,681 
Over time
25,139 3,155 23,316 4,697 10,954 67,261 
Total$351,042 $53,435 $201,837 $164,400 $183,821 $954,535 
For the nine months ended September 30, 2025U.S. OperationsSwiss OperationsWestern European OperationsChinese OperationsOther OperationsTotal
Product Revenue$797,101 $113,592 $417,320 $425,358 $397,471 $2,150,842 
Service Revenue:
Point in time
227,822 25,780 137,462 31,530 109,576 532,170 
Over time
79,201 9,557 74,679 13,261 36,954 213,652 
Total$1,104,124 $148,929 $629,461 $470,149 $544,001 $2,896,664 
For the nine months ended September 30, 2024U.S. OperationsSwiss OperationsWestern European OperationsChinese OperationsOther OperationsTotal
Product Revenue$768,744 $125,350 $423,919 $425,298 $385,510 $2,128,821 
Service Revenue:
Point in time
219,213 23,348 129,289 33,506 102,194 507,550 
Over time
71,423 9,172 65,707 13,178 31,383 190,863 
Total$1,059,380 $157,870 $618,915 $471,982 $519,087 $2,827,234 
A breakdown of net sales to external customers by geographic customer destination for the three and nine months ended September 30 follows:
Three Months EndedNine Months Ended
September 30,September 30,
2025202420252024
Americas$431,522 $393,620 $1,223,530 $1,181,992 
Europe292,862 259,993 814,940 792,690 
Asia / Rest of World305,315 300,922 858,194 852,552 
Total$1,029,699 $954,535 $2,896,664 $2,827,234 
The Company's global revenue mix by product category is laboratory (55% of sales), industrial (40% of sales) and retail (5% of sales). The Company's product revenue by reportable segment is proportionately similar to the Company's global revenue 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 breakdown of the Company’s sales by product category for the three and nine months ended September 30 is as follows:
Three Months EndedNine Months Ended
September 30,September 30,
2025202420252024
Laboratory$564,767 $534,835 $1,602,907 $1,583,123 
Industrial406,395 365,514 1,142,223 1,091,616 
Retail58,537 54,186 151,534 152,495 
Total$1,029,699 $954,535 $2,896,664 $2,827,234 

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, 2025 and December 31, 2024 was $43.2 million and $32.6 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 ended September 30, 2025 and 2024 are as follows:
20252024
Beginning balance as of January 1$204,166 $202,022 
Customer pre-payments/deferred revenue532,093 483,079 
Revenue recognized(513,038)(474,832)
Foreign currency translation11,035 381 
Ending balance as of September 30$234,256 $210,650 
The Company generally expenses sales commissions when incurred because the contract period is one year or less. These costs are recorded within selling, general, and administrative expenses. The value of unsatisfied performance obligations other than customer prepayments and deferred revenue associated with contracts greater than one year is immaterial.