Revenue from Contract with Customer [Text Block]

Revenue

Disaggregation of revenue

In the following tables, revenue is disaggregated by primary geographical markets, primary end-markets and timing of revenue recognition. The tables also include a reconciliation of the disaggregated revenue with the reportable segments' revenue.


	Reportable Segments
	Three Months Ended
	July 4, 2021						July 5, 2020
	Discovery & Analytical Solutions		Diagnostics		Total		Discovery & Analytical Solutions		Diagnostics		Total
	(In thousands)
Primary geographical markets
Americas	$	206,938	$	368,365	$	575,303	$	160,382	$	156,609	$	316,991
Europe	145,576		200,777		346,353		103,497		149,867		253,364
Asia	160,315		146,500		306,815		127,123		114,240		241,363
	$	512,829	$	715,642	$	1,228,471	$	391,002	$	420,716	$	811,718

Primary end-markets
Diagnostics	$	—	$	715,642	$	715,642	$	—	$	420,716	$	420,716
Life sciences	308,681		—		308,681		237,120		—		237,120
Applied markets	204,148		—		204,148		153,882		—		153,882
	$	512,829	$	715,642	$	1,228,471	$	391,002	$	420,716	$	811,718

Timing of revenue recognition
Products and services transferred at a point in time	$	378,310	$	506,603	$	884,913	$	265,903	$	398,646	$	664,549
Services transferred over time	134,519		209,039		343,558		125,099		22,070		147,169
	$	512,829	$	715,642	$	1,228,471	$	391,002	$	420,716	$	811,718


	Reportable Segments
	Six Months Ended
	July 4, 2021						July 5, 2020
	Discovery & Analytical Solutions		Diagnostics		Total		Discovery & Analytical Solutions		Diagnostics		Total
	(In thousands)
Primary geographical markets
Americas	$	382,053	$	769,292	$	1,151,345	$	329,498	$	261,766	$	591,264
Europe	281,034		512,520		793,554		222,154		231,466		453,620
Asia	304,351		286,910		591,261		237,745		181,485		419,230
	$	967,438	$	1,568,722	$	2,536,160	$	789,397	$	674,717	$	1,464,114

Primary end-markets
Diagnostics	$	—	$	1,568,722	$	1,568,722	$	—	$	674,717	$	674,717
Life sciences	585,882		—		585,882		482,853		—		482,853
Applied markets	381,556		—		381,556		306,544		—		306,544
	$	967,438	$	1,568,722	$	2,536,160	$	789,397	$	674,717	$	1,464,114

Timing of revenue recognition
Products and services transferred at a point in time	$	704,972	$	1,121,709	$	1,826,681	$	533,810	$	630,299	$	1,164,109
Services transferred over time	262,466		447,013		709,479		255,587		44,418		300,005
	$	967,438	$	1,568,722	$	2,536,160	$	789,397	$	674,717	$	1,464,114

Major Customer Concentration

Revenues from one customer in the Company's Diagnostics segment represent approximately $192.5 million and $398.0 million of the Company's total revenue for the three and six months ended July 4, 2021.

Contract Balances

Contract assets: The unbilled receivables (contract assets) primarily relate to the Company's right to consideration for work completed but not billed at the reporting date. The unbilled receivables are transferred to trade receivables when billed to customers. Contract assets are generally classified as current assets and are included in "Accounts receivable, net" in the consolidated balance sheets. The balance of contract assets as of July 4, 2021 and January 3, 2021 were $51.9 million and $59.5 million, respectively. The amount of unbilled receivables recognized at the beginning of the period that were transferred to trade receivables during the six months ended July 4, 2021 was $46.2 million. The increase in unbilled receivables during the six months ended July 4, 2021 as a result of recognition of revenue before billing to customers, excluding amounts transferred to trade receivables during the period, amounted to $38.6 million.

Contract liabilities: The contract liabilities primarily relate to the advance consideration received from customers for products and related installation for which transfer of control has not occurred at the balance sheet date. Contract liabilities are classified as either current in "Accounts payable" or "Accrued expenses and other current liabilities" or as long-term in "Long-term liabilities" in the consolidated balance sheets based on the timing of when the Company expects to recognize revenue. The balance of contract liabilities as of July 4, 2021 and January 3, 2021 were $230.7 million and $238.1 million, respectively. The increase in contract liabilities during the six months ended July 4, 2021 due to cash received, excluding amounts recognized as revenue during the period, was $49.6 million. The amount of revenue recognized during the six months ended July 4, 2021 that was included in the contract liability balance at the beginning of the period was $57.1 million.

Contract costs: The Company recognizes the incremental costs of obtaining a contract with a customer as an asset if it expects the benefit of those costs to be longer than one year. The Company determined that certain sales incentive programs meet the requirements to be capitalized. Total capitalized costs to obtain a contract were immaterial during the period and are included in other current and long-term assets on the consolidated balance sheets. The Company applies a practical expedient to expense costs as incurred for costs to obtain a contract with a customer when the amortization period would have been one year

or less. These costs include the Company's internal sales force compensation program, as the Company determined that annual compensation is commensurate with annual sales activities.

Transaction price allocated to the remaining performance obligations

The Company applies the practical expedient in ASC 606-10-50-14 and does not disclose information about remaining performance obligations that have original expected durations of one year or less. The estimated revenue expected to be recognized beyond one year in the future related to performance obligations that are unsatisfied (or partially unsatisfied) at the end of the period are not material to the Company. The remaining performance obligations primarily include noncancelable purchase orders and noncancelable software subscriptions and cloud service contracts.