CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions	6 Months Ended
	Jul. 04, 2026	Jun. 28, 2025
Cash flows from operating activities:
Net (loss) income	$ (208)	$ 268
Adjustments to reconcile net income to net cash provided by operating activities:
Stock-based compensation	45	26
Deferred income taxes	114	2
Depreciation	71	44
Amortization of intangibles	437	57
Amortization of acquisition-related inventory and fixed assets step-up recognized	253	0
Change in operating assets and liabilities:
(Increase) decrease in accounts receivable	(782)	43
Increase in inventories	(68)	(36)
Increase in other current assets	(354)	(12)
Decrease in other assets	17	14
Increase (decrease) in accounts payable and other current liabilities	557	(164)
Increase in deferred revenue and customer advances	116	64
Decrease in other liabilities	0	(5)
Net cash provided by operating activities	198	301
Cash flows from investing activities:
Additions to property, plant, equipment and software capitalization	(87)	(49)
Cash acquired in business acquisition	144	(35)
Investments in unaffiliated companies, net	(10)	(1)
Change in deposit asset, related to deferred close entities	51	0
Net cash provided by (used in) investing activities	97	(85)
Cash flows from financing activities:
Proceeds from debt issuances	3,742	70
Payments on debt	(4,040)	(240)
Payments of debt issuance costs	(28)	(5)
Proceeds from stock plans	15	13
Purchases of treasury shares	(14)	(14)
(Payments for) proceeds from derivative contracts	(12)	2
Net cash used in financing activities	(337)	(174)
Effect of exchange rate changes on cash and cash equivalents	(7)	0
(Decrease) increase in cash and cash equivalents	(49)	42
Cash and cash equivalents at beginning of period	588	325
Cash and cash equivalents at end of period	539	$ 367
Non-cash investing activities related to the BDS Business Acquisition:
Fair value of Waters common stock issued	12,835
Notes payable and debt assumed	4,000
Estimated net working capital adjustment	$ 121

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Jul. 04, 2026	Dec. 31, 2025
Current assets:
Cash and cash equivalents	$ 539	$ 588
Accounts receivable, net	1,987	829
Inventories	1,377	572
Other current assets	562	159
Total current assets	4,465	2,148
Property, plant and equipment, net	1,489	642
Intangible assets, net	8,521	558
Goodwill	9,421	1,340
Operating lease assets	366	81
Other assets	489	308
Total assets	24,751	5,077
Current liabilities:
Notes payable	200	460
Accounts payable	863	104
Accrued employee compensation	214	100
Deferred revenue and customer advances	495	267
Current operating lease liabilities	51	31
Accrued income taxes	10	36
Accrued warranty	21	12
Other current liabilities	545	230
Total current liabilities	2,399	1,239
Long-term liabilities:
Long-term debt	4,886	947
Long-term deferred tax liabilities	1,705	37
Long-term operating lease liabilities	317	53
Long-term portion of retirement benefits	59	44
Long-term income tax liabilities	32	34
Other long-term liabilities	158	161
Total long-term liabilities	7,157	1,276
Total liabilities	9,556	2,515
Commitments and contingencies (Notes 6, 7 and 10)
Stockholders' equity:
Preferred stock, par value $0.01 per share, 5,000 shares authorized, none issued at July 4, 2026 and December 31, 2025	0	0
Common stock, par value $0.01 per share, 400,000 shares authorized, 201,881 and 163,162 shares issued, 98,225 and 59,549 shares outstanding at July 4, 2026 and December 31, 2025, respectively	2	2
Additional paid-in capital	15,312	2,416
Retained earnings	10,223	10,431
Treasury stock, at cost, 103,656 and 103,613 shares at July 4, 2026 and December 31, 2025, respectively	(10,176)	(10,162)
Accumulated other comprehensive loss	(166)	(125)
Total stockholders' equity	15,195	2,562
Total liabilities and stockholders' equity	$ 24,751	$ 5,077