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.


	Reportable Segments
	Three Months Ended
	July 3, 2022						July 4, 2021
	Discovery & Analytical Solutions		Diagnostics		Total		Discovery & Analytical Solutions		Diagnostics		Total
	(In thousands)
Primary geographical markets
Americas	$	302,207	$	325,610	$	627,817	$	206,938	$	368,365	$	575,303
Europe	159,620		116,235		275,855		145,576		200,777		346,353
Asia	198,714		127,183		325,897		160,315		146,500		306,815
	$	660,541	$	569,028	$	1,229,569	$	512,829	$	715,642	$	1,228,471

Primary end-markets
Diagnostics	$	—	$	569,028	$	569,028	$	—	$	715,642	$	715,642
Life sciences	442,654		—		442,654		308,681		—		308,681
Applied markets	217,887		—		217,887		204,148		—		204,148
	$	660,541	$	569,028	$	1,229,569	$	512,829	$	715,642	$	1,228,471

Timing of revenue recognition
Products and services transferred at a point in time	$	516,092	$	505,539	$	1,021,631	$	378,310	$	506,603	$	884,913
Services transferred over time	144,449		63,489		207,938		134,519		209,039		343,558
	$	660,541	$	569,028	$	1,229,569	$	512,829	$	715,642	$	1,228,471


	Reportable Segments
	Six Months Ended
	July 3, 2022						July 4, 2021
	Discovery & Analytical Solutions		Diagnostics		Total		Discovery & Analytical Solutions		Diagnostics		Total
	(In thousands)
Primary geographical markets
Americas	$	575,365	$	653,546	$	1,228,911	$	382,053	$	769,292	$	1,151,345
Europe	317,858		314,403		632,261		281,034		512,520		793,554
Asia	369,684		258,155		627,839		304,351		286,910		591,261
	$	1,262,907	$	1,226,104	$	2,489,011	$	967,438	$	1,568,722	$	2,536,160

Primary end-markets
Diagnostics	$	—	$	1,226,104	$	1,226,104	$	—	$	1,568,722	$	1,568,722
Life sciences	855,063		—		855,063		585,882		—		585,882
Applied markets	407,844		—		407,844		381,556		—		381,556
	$	1,262,907	$	1,226,104	$	2,489,011	$	967,438	$	1,568,722	$	2,536,160

Timing of revenue recognition
Products and services transferred at a point in time	$	977,406	$	1,060,059	$	2,037,465	$	704,972	$	1,121,709	$	1,826,681
Services transferred over time	285,501		166,045		451,546		262,466		447,013		709,479
	$	1,262,907	$	1,226,104	$	2,489,011	$	967,438	$	1,568,722	$	2,536,160

Major Customer Concentration

Revenues from one customer in the Company's Diagnostics segment represent approximately $176.9 million and $289.6 million of the Company's total revenue for the three and six months ended July 3, 2022, respectively, and approximately $192.5 million and $398.0 million of the Company's total revenue for the three and six months ended July 4, 2021, respectively.

During the second quarter of fiscal year 2022, the Company's contract with the California Department of Public Health (“CDPH”) for the supply and operation of the Valencia Branch Laboratory ended and the Valencia Branch Laboratory was closed. The contract required the Company to provide COVID-19 testing for CDPH. The Company recognized the remaining nonrefundable prepayment amounting to $117.8 million as revenue in the second quarter of fiscal year 2022.

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 condensed consolidated balance sheets.


	(In thousands)
Balance at January 2, 2022	$	72,117
Transferred to trade receivables from unbilled receivables recognized at the beginning of the period	(47,716)
Increases as a result of recognition of revenue before billing to customers, excluding amounts transferred to trade receivables during the period	34,286
Balance at July 3, 2022	$	58,687

Contract liabilities: The contract liabilities primarily relate to the advance consideration received from customers for products and related services 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 condensed consolidated balance sheets based on the timing of when the Company expects to recognize revenue.


	(In thousands)
Balance at January 2, 2022	$	201,073
Revenue recognized that was included in the contract liability balance at the beginning of the period	(171,581)
Increases due to cash received, excluding amounts recognized as revenue during the period	21,451
Balance at July 3, 2022	$	50,943