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Summary of Significant Accounting Policies (Tables) | 12 Months Ended
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Dec. 31, 2023
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
Vehicles |  | Five years
Reconciliation of Basic and Diluted Shares Amounts | A reconciliation of basic and diluted weighted average share outstanding is as follows:
|  | For the Years Ended December 31, |
|  | 2023 |  |  | 2022 |  |  | 2021 |
|  | (Amounts in thousands, except per share data) |
Numerator: |  |  |  |  |  |  |  |  |
Net income |  | $ | 41,577 |  |  | $ | 185,959 |  |  | $ | 128,291 |
Effect of dilutive securities: |  |  |  |  |  |  |  |  |
Charges associated with convertible debt instruments, net of tax |  |  | — |  |  |  | 387 |  |  |  | — |
Numerator for diluted earnings per share - net income available to common stockholders after the effect of dilutive securities |  | $ | 41,577 |  |  | $ | 186,346 |  |  | $ | 128,291 |
Denominator: |  |  |  |  |  |  |  |  |
Weighted average shares used in computing net income per share - basic |  |  | 55,720 |  |  |  | 55,460 |  |  |  | 55,015 |
Effect of dilutive shares: |  |  |  |  |  |  |  |  |
Options and stock units |  |  | 457 |  |  |  | 608 |  |  |  | 915 |
Convertible senior notes(1) |  |  | 181 |  |  |  | 1,360 |  |  |  | 1,253 |
Contingent consideration |  |  | 8 |  |  |  | 11 |  |  |  | — |
Dilutive effect of unvested performance stock units |  |  | 11 |  |  |  | 16 |  |  |  | 81 |
Dilutive potential common shares |  |  | 657 |  |  |  | 1,995 |  |  |  | 2,249 |
Denominator for diluted earnings per share - adjusted weighted average shares used in computing net income per share - diluted |  |  | 56,377 |  |  |  | 57,455 |  |  |  | 57,264 |
Earnings per share: |  |  |  |  |  |  |  |  |
Basic |  | $ | 0.75 |  |  | $ | 3.35 |  |  | $ | 2.33 |
Diluted |  | $ | 0.74 |  |  | $ | 3.24 |  |  | $ | 2.24 |
(1) Represents the dilutive impact for the Company's 0.375% Convertible Senior Notes due 2024 (the “ 2019 Notes”) and its 1.00% Convertible Senior Notes due 2028 (the “2023 Notes”). As of December 31, 2023, the if-converted value is less than the outstanding principal of the 2023 Notes and are therefore anti-dilutive. Refer to Note 14, “Convertible Senior Notes,” for more information.
Summary of Product Revenues by Product Line | The following table represents product revenues by product line:
|  | For the Years Ended December 31, |
|  | 2023(1) |  |  | 2022 |
|  | (Amounts in thousands) |
Filtration products |  | $ | 347,781 |  |  | $ | 495,930 |
Chromatography products |  |  | 126,629 |  |  |  | 131,680 |
Process analytics products |  |  | 56,820 |  |  |  | 53,512 |
Proteins products |  |  | 103,463 |  |  |  | 114,320 |
Other |  |  | 3,688 |  |  |  | 5,741 |
Total product revenue |  | $ | 638,381 |  |  | $ | 801,183 |
(1) 2023 revenue for filtration products includes revenue related to FlexBiosys, Inc. (“FlexBiosys”) from April 17, 2023, as well as Metenova Holding AB (“Metenova”) from October 2, 2023. (2) 2021 revenue for filtration products includes revenue related to Polymem S.A. (“Polymem”) from July 1, 2021, as well as BioFlex Solutions LLC (“BioFlex”) and Newton T&M Corp. (“NTM”) from December 16, 2021 through December 31, 2021. 2021 revenue for proteins products includes revenue related to Avitide, Inc. (“Avitide”) from September 20, 2021 through December 31, 2021.
Total Assets by Geographic Area | The following table represents the Company’s total assets by our country of domicile (the United States) and other countries where our major subsidiaries are domiciled for the periods presented:
|  | December 31, |
|  | 2023 |  |  | 2022 |
|  | (Amounts in thousands) |
Total assets by geographic locations: |  |  |  |  |  |
North America |  | $ | 2,371,208 |  |  | $ | 2,209,244 |
Europe |  |  | 426,034 |  |  |  | 287,543 |
APAC |  |  | 27,169 |  |  |  | 27,871 |
Total assets by geographic location |  | $ | 2,824,411 |  |  | $ | 2,524,658 |
Long Lived Assets by Geographic Area | The following table represents the Company’s long-lived assets by our country of domicile (the United States) and other countries where our major subsidiaries are domiciled for the periods presented:
|  | December 31, |
|  | 2023 |  |  | 2022 |
|  | (Amounts in thousands) |
Long-lived assets by geographic locations: |  |  |  |  |  |
North America |  | $ | 278,033 |  |  | $ | 275,151 |
Europe |  |  | 43,280 |  |  |  | 38,541 |
APAC |  |  | 2,919 |  |  |  | 2,819 |
Total long-lived assets by geographic location |  | $ | 324,232 |  |  | $ | 316,511 |
Total Revenue |
Percentage by Geographic Area or Significant Customers | The following table represents the Company’s total revenue by our country of domicile (the United States) and other countries where our major subsidiaries are domiciled for the periods presented (based on the location of the customer):
|  | For the Years Ended December 31, |
|  | 2023 |  |  | 2022 |  |  | 2021 |
Revenue by customers' geographic locations: |  |  |  |  |  |  |  |  |
North America |  |  | 44 | % |  |  | 43 | % |  |  | 41 | %
Europe |  |  | 37 | % |  |  | 37 | % |  |  | 40 | %
APAC/Other |  |  | 19 | % |  |  | 20 | % |  |  | 19 | %
Total revenue |  |  | 100 | % |  |  | 100 | % |  |  | 100 | %

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