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
	October 3, 2021						October 4, 2020
	Discovery & Analytical Solutions		Diagnostics		Total		Discovery & Analytical Solutions		Diagnostics		Total
	(In thousands)
Primary geographical markets
Americas	$	217,117	$	280,367	$	497,484	$	173,992	$	213,347	$	387,339
Europe	135,940		220,264		356,204		115,281		198,205		313,486
Asia	159,822		153,174		312,996		134,350		128,850		263,200
	$	512,879	$	653,805	$	1,166,684	$	423,623	$	540,402	$	964,025

Primary end-markets
Diagnostics	$	—	$	653,805	$	653,805	$	—	$	540,402	$	540,402
Life sciences	320,067		—		320,067		251,929		—		251,929
Applied markets	192,812		—		192,812		171,694		—		171,694
	$	512,879	$	653,805	$	1,166,684	$	423,623	$	540,402	$	964,025

Timing of revenue recognition
Products and services transferred at a point in time	$	374,147	$	554,332	$	928,479	$	293,460	$	518,867	$	812,327
Services transferred over time	138,732		99,473		238,205		130,163		21,535		151,698
	$	512,879	$	653,805	$	1,166,684	$	423,623	$	540,402	$	964,025


	Reportable Segments
	Nine Months Ended
	October 3, 2021						October 4, 2020
	Discovery & Analytical Solutions		Diagnostics		Total		Discovery & Analytical Solutions		Diagnostics		Total
	(In thousands)
Primary geographical markets
Americas	$	599,170	$	1,049,659	$	1,648,829	$	503,490	$	475,113	$	978,603
Europe	416,974		732,784		1,149,758		337,435		429,671		767,106
Asia	464,173		440,084		904,257		372,095		310,335		682,430
	$	1,480,317	$	2,222,527	$	3,702,844	$	1,213,020	$	1,215,119	$	2,428,139

Primary end-markets
Diagnostics	$	—	$	2,222,527	$	2,222,527	$	—	$	1,215,119	$	1,215,119
Life sciences	905,949		—		905,949		734,782		—		734,782
Applied markets	574,368		—		574,368		478,238		—		478,238
	$	1,480,317	$	2,222,527	$	3,702,844	$	1,213,020	$	1,215,119	$	2,428,139

Timing of revenue recognition
Products and services transferred at a point in time	$	1,079,119	$	1,676,041	$	2,755,160	$	827,270	$	1,149,166	$	1,976,436
Services transferred over time	401,198		546,486		947,684		385,750		65,953		451,703
	$	1,480,317	$	2,222,527	$	3,702,844	$	1,213,020	$	1,215,119	$	2,428,139

Major Customer Concentration

Revenues from one customer in the Company's Diagnostics segment represent approximately $94.8 million and $492.8 million of the Company's total revenue for the three and nine months ended October 3, 2021, respectively.

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 October 3, 2021 and January 3, 2021 were $57.8 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 nine months ended October 3, 2021 was $48.9 million. The increase in unbilled receivables during the nine months ended October 3, 2021 as a result of recognition of revenue before billing to customers, excluding amounts transferred to trade receivables during the period, amounted to $47.2 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 October 3, 2021 and January 3, 2021 were $209.6 million and $238.1 million, respectively. The additions to contract liabilities during the nine months ended October 3, 2021 due to cash received, excluding amounts recognized as revenue during the period, was $51.3 million. The amount of revenue recognized during the nine months ended October 3, 2021 that was included in the contract liability balance at the beginning of the period was $79.8 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.