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Summary of Significant Accounting Policies (Tables) | 12 Months Ended
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Dec. 31, 2021
Schedule of Cash, Cash Equivalents and Restricted Cash | The following is a summary of the Company’s cash, cash equivalents, and restricted cash total as presented in the Company’s consolidated statements of cash flows for the years ended December 31, 2021, 2020 and 2019:
|  | For the Years Ended December 31, |
|  | 2021 |  |  | 2020 |  |  | 2019 |
|  | (Amounts in thousands) |
Cash and cash equivalents |  | $ | 603,814 |  |  | $ | 717,292 |  |  | $ | 528,392 |
Restricted cash |  |  | — |  |  |  | — |  |  |  | 9,015 |
Total cash, cash equivalents, and restricted cash |  | $ | 603,814 |  |  | $ | 717,292 |  |  | $ | 537,407 |
Property, Plant and Equipment | Property, plant & equipment is recorded at cost less allowances for depreciation. Depreciation is calculated using the straight-line method over the estimated useful life of the asset as follows:
Classification |  | Estimated Useful Life
Buildings |  | Thirty years
Leasehold improvements |  | Shorter of the term of the lease or estimated useful life
Equipment |  | Three to twelve years
Furniture, fixtures and office equipment |  | Three to eight years
Computer hardware and software |  | Three to seven years or estimated useful life
Reconciliation of Basic and Diluted Shares Amounts | A reconciliation of basic and diluted share amounts is as follows:
|  | For the Years Ended December 31, |
|  | 2021 |  |  | 2020 |  |  | 2019 |
|  | (Amounts in thousands, except per share data) |
Net income |  | $ | 128,291 |  |  | $ | 59,926 |  |  | $ | 21,411 |
Weighted average shares used in computing net income per share - basic |  |  | 55,015 |  |  |  | 52,554 |  |  |  | 48,343 |
Effect of dilutive shares: |  |  |  |  |  |  |  |  |
Options and stock units |  |  | 915 |  |  |  | 971 |  |  |  | 864 |
Convertible senior notes |  |  | 1,253 |  |  |  | 367 |  |  |  | — |
Dilutive effect of unvested performance stock units |  |  | 81 |  |  |  | — |  |  |  | — |
Dilutive potential common shares |  |  | 2,249 |  |  |  | 1,338 |  |  |  | 864 |
Weighted average shares used in computing net income per share - diluted |  |  | 57,264 |  |  |  | 53,892 |  |  |  | 49,206 |
Earnings per share: |  |  |  |  |  |  |  |  |
Basic |  | $ | 2.33 |  |  | $ | 1.14 |  |  | $ | 0.44 |
Diluted |  | $ | 2.24 |  |  | $ | 1.11 |  |  | $ | 0.44 |
Summary of Product Revenues by Product Line | The following table represents product revenues by product line:
|  | For the Years Ended December 31, |
|  | 2021(1) |  |  | 2020(2) |  |  | 2019(3) |
|  | (Amounts in thousands) |
Filtration products |  | $ | 403,505 |  |  | $ | 174,851 |  |  | $ | 119,464 |
Chromatography products(4) |  |  | 91,037 |  |  |  | 70,677 |  |  |  | 60,662 |
Process analytics products |  |  | 48,019 |  |  |  | 33,346 |  |  |  | 16,405 |
Proteins products(4) |  |  | 123,707 |  |  |  | 83,317 |  |  |  | 69,004 |
Other |  |  | 4,051 |  |  |  | 3,945 |  |  |  | 4,562 |
Total product revenue |  | $ | 670,319 |  |  | $ | 366,136 |  |  | $ | 270,097 |
(1) 2021 revenue for filtration products includes revenue related to Polymem from July 1, 2021 as well as BioFlex and NTM from December 16, 2021 through December 31, 2021. 2021 revenue for proteins products includes revenue related to Avitide from September 20, 2021 through December 31, 2021. (2) 2020 revenue for filtration products includes revenue related to EMT from July 13, 2020, NMS from October 20, 2020 and ARTeSYN from December 3, 2020 through December 31, 2020. (3) 2019 revenue includes process analytics revenue related to C Technologies from June 1, 2019 through December 31, 2019. (4) Revised 2020 and 2019 revenue in the table above reflects a shift in revenue from chromatography products to proteins products of approximately $3 million and $4 million, respectively. These changes are consistent with the current year presentation of product revenue.
Total Assets by Geographic Area | The following table represents the Company’s total assets by geographic area:
|  | December 31, |
|  | 2021 |  |  | 2020 |
|  | (Amounts in thousands) |
Total assets by geographic locations: |  |  |  |  |  |
North America |  | $ | 2,082,721 |  |  | $ | 1,697,149 |
Europe |  |  | 243,076 |  |  |  | 188,698 |
APAC |  |  | 32,557 |  |  |  | 17,040 |
Total assets by geographic location |  | $ | 2,358,354 |  |  | $ | 1,902,887 |
Long Lived Assets by Geographic Area | The following table represents the Company’s long-lived assets by geographic area:
|  | December 31, |
|  | 2021 |  |  | 2020 |
|  | (Amounts in thousands) |
Long-lived assets by geographic locations: |  |  |  |  |  |
North America |  | $ | 198,436 |  |  | $ | 78,429 |
Europe |  |  | 27,168 |  |  |  | 12,918 |
APAC |  |  | 1,534 |  |  |  | 1,272 |
Total long-lived assets by geographic location |  | $ | 227,138 |  |  | $ | 92,619 |
Percentage of Revenue from Significant Customers | Revenue from significant customers that represent 10% or more of the Company’s total revenue is as follows:
|  | For the Years Ended December 31,
|  | 2021 |  | 2020 |  | 2019
Pfizer Inc. |  | 10% |  | N/A |  | N/A
MilliporeSigma |  | N/A |  | 11% |  | 13%
Cytiva |  | N/A |  | N/A |  | 12%
Total Revenue |
Percentage by Geographic Area or Significant Customers | The following table represents the Company’s total revenue by geographic area (based on the location of the customer):
|  | For the Years Ended December 31, |
|  | 2021 |  |  | 2020 |  |  | 2019 |
Revenue by customers' geographic locations: |  |  |  |  |  |  |  |  |
North America |  |  | 41 | % |  |  | 48 | % |  |  | 51 | %
Europe |  |  | 40 | % |  |  | 38 | % |  |  | 37 | %
APAC/Other |  |  | 19 | % |  |  | 14 | % |  |  | 12 | %
Total revenue |  |  | 100 | % |  |  | 100 | % |  |  | 100 | %
Trade Accounts Receivable Member |
Percentage of Revenue from Significant Customers | is as follows:
|  | December 31, |
|  | 2021 |  |  | 2020 |
Pfizer Inc. |  |  | 14 | % |  | N/A |
Cytiva |  | N/A |  |  |  | 11 | %

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