Revenue Recognition (Notes)

3 Months Ended

Mar. 31, 2026

Revenue from Contract with Customer [Abstract]

Revenue from Contract with Customer [Text Block]

REVENUE

The Company disaggregates revenue from contracts with customers by product, service, timing of revenue recognition, and geography. A summary by the Company’s reportable segments follows:

Three months ended March 31, 2026	U.S. Operations		Swiss Operations		Western European Operations		Chinese Operations		Other Operations		Total
Product Revenue	$	239,958	$	38,375	$	139,730	$	140,053	$	126,138	$	684,254
Service Revenue:
Point in time	80,198		8,952		48,068		8,613		37,001		182,832
Over time	28,391		3,432		27,585		4,857		15,776		80,041
Total	$	348,547	$	50,759	$	215,383	$	153,523	$	178,915	$	947,127

Three months ended March 31, 2025	U.S. Operations		Swiss Operations		Western European Operations		Chinese Operations		Other Operations		Total
Product Revenue	$	247,067	$	36,298	$	124,850	$	128,197	$	113,538	$	649,950
Service Revenue:
Point in time	73,330		8,248		42,476		8,822		29,915		162,791
Over time	25,361		2,756		23,043		4,149		15,694		71,003
Total	$	345,758	$	47,302	$	190,369	$	141,168	$	159,147	$	883,744

A breakdown of net sales to external customers by geographic customer destination for the three months ended March 31 follows:

	2026		2025
Americas	$	389,339	$	377,916
Europe	278,686		247,975
Asia / Rest of World	279,102		257,853
Total	$	947,127	$	883,744

The Company's global revenue mix by product category is laboratory (55% of sales), industrial (40% of sales) and retail (5% of sales). The Company's product revenue by reportable segment is proportionately similar to the Company's global revenue mix except the Company's Swiss Operations is largely comprised of laboratory products, while the Company's Chinese Operations has a slightly higher percentage of industrial products. A breakdown of the Company’s sales by product category for the three months ended March 31 follows:

	2026		2025
Laboratory	$	524,581	$	500,224
Industrial	374,640		341,200
Retail	47,906		42,320
Total	$	947,127	$	883,744

The payment terms in the Company’s contracts with customers do not exceed one year and therefore contracts do not contain a significant financing component. In most cases, after appropriate credit evaluations, payments are due in arrears and are recognized as receivables. Unbilled revenue is recorded when performance obligations have been satisfied, but not yet billed to the customer. Unbilled revenue as of March 31, 2026 and December 31, 2025 was $42.9 million and $32.3 million, respectively, and is included within accounts receivable. Deferred revenue and customer prepayments are recorded when cash payments are received or due in advance of the performance obligation being satisfied. Deferred revenue primarily includes prepaid service contracts, as well as deferred installation.

Changes in the components of deferred revenue and customer prepayments during the periods ended March 31, 2026 and 2025 are as follows:

	2026		2025
Beginning balances as of January 1	$	229,378	$	204,166
Customer pre-payments/deferred revenue	227,796		193,148
Revenue recognized	(193,974)		(167,672)
Foreign currency translation	(2,176)		3,191
Ending balance as of March 31	$	261,024	$	232,833

The Company generally expenses sales commissions when incurred because the contract period is one year or less. These costs are recorded within selling, general, and administrative expenses. The value of unsatisfied performance obligations other than customer prepayments and deferred revenue associated with contracts greater than one year is immaterial.