Summary of Significant Accounting Policies (Tables)

12 Months Ended

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	%