Waters Corp 2024 10-K: Tax Provision Rises on Foreign NOLs
Ticker: WAT · Form: 10-K · Filed: 2025-02-25T00:00:00.000Z
Sentiment: neutral
Topics: 10-K, tax, financials
TL;DR
Waters Corp's 2024 10-K shows higher taxes due to foreign NOLs; currency fluctuations also played a role.
AI Summary
Waters Corp /DE/ filed its 2024 10-K on February 25, 2025, reporting on its fiscal year ending December 31, 2024. The company's income tax provision saw an increase in 2024, primarily due to a rise in foreign net operating losses. Changes in the valuation allowance were largely influenced by foreign currency translation effects on net operating loss carryforwards for the years 2024, 2023, and 2022.
Why It Matters
This filing provides insight into Waters Corp's tax liabilities and the factors influencing them, which can impact future profitability and financial reporting.
Risk Assessment
Risk Level: medium — The filing details standard financial reporting and tax considerations without indicating significant new risks or opportunities.
Key Numbers
- 1231 — Fiscal Year End (Indicates the end of the reporting period for the company's financial statements.)
- 0001000697 — Central Index Key (Unique identifier for Waters Corp in SEC filings.)
Key Players & Entities
- WATERS CORP /DE/ (company) — Filer of the 10-K
- 2024 (date) — Fiscal year end
- December 31, 2024 (date) — Fiscal year end
- February 25, 2025 (date) — Filing date
- 34 MAPLE ST, MILFORD, MA 01757 (location) — Company's business and mailing address
FAQ
What was the primary reason for the increase in the income tax provision in 2024?
The increase in the 2024 charge to the provision for income taxes can be attributed to an increase in foreign net operating losses.
What factors primarily influenced the changes in the valuation allowance for the years ended December 31, 2024, 2023, and 2022?
The changes in the valuation allowance during these years were primarily due to the effect of foreign currency translation on a valuation allowance related to a net operating loss carryforward.
When did Waters Corp change its former name from WCD INVESTORS INC /DE/?
The date of the name change from WCD INVESTORS INC /DE/ to Waters Corp /DE/ was June 5, 1996.
What is Waters Corp's Standard Industrial Classification (SIC) code?
Waters Corp's Standard Industrial Classification (SIC) code is 3826, which corresponds to Laboratory Analytical Instruments.
What is the filing date of this 10-K report?
This 10-K report was filed on February 25, 2025.
From the Filing
0001193125-25-034579.txt : 20250225 0001193125-25-034579.hdr.sgml : 20250225 20250225105515 ACCESSION NUMBER: 0001193125-25-034579 CONFORMED SUBMISSION TYPE: 10-K PUBLIC DOCUMENT COUNT: 139 CONFORMED PERIOD OF REPORT: 20241231 FILED AS OF DATE: 20250225 DATE AS OF CHANGE: 20250225 FILER: COMPANY DATA: COMPANY CONFORMED NAME: WATERS CORP /DE/ CENTRAL INDEX KEY: 0001000697 STANDARD INDUSTRIAL CLASSIFICATION: LABORATORY ANALYTICAL INSTRUMENTS [3826] ORGANIZATION NAME: 08 Industrial Applications and Services IRS NUMBER: 133668640 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 10-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-14010 FILM NUMBER: 25660016 BUSINESS ADDRESS: STREET 1: 34 MAPLE ST CITY: MILFORD STATE: MA ZIP: 01757 BUSINESS PHONE: 5084782000 MAIL ADDRESS: STREET 1: 34 MAPLE STREET CITY: MILFORD STATE: MA ZIP: 01757 FORMER COMPANY: FORMER CONFORMED NAME: WCD INVESTORS INC /DE/ DATE OF NAME CHANGE: 19960605 10-K 1 d791800d10k.htm FORM 10-K Form 10-K Table of Contents false FY 0001000697 These amounts have been recorded as part of the income statement provision for income taxes. The income statement effects of these amounts have largely been offset by amounts related to changes in other deferred tax balance sheet accounts. The increase in the 2024 charge to the provision for income taxes can be attributed to an increase in foreign net operating losses. The changes in the valuation allowance during the years ended December 31, 2024, 2023 and 2022 are primarily due to the effect of foreign currency translation on a valuation allowance related to a net operating loss carryforward. 0001000697 2024-01-01 2024-12-31 0001000697 2024-12-31 0001000697 2023-12-31 0001000697 2023-01-01 2023-12-31 0001000697 2022-01-01 2022-12-31 0001000697 2023-04-01 2023-06-30 0001000697 2023-01-01 2023-03-31 0001000697 2024-07-01 2024-09-30 0001000697 2024-10-01 2024-12-31 0001000697 2024-04-01 2024-06-30 0001000697 2024-01-01 2024-03-31 0001000697 2023-07-01 2023-09-30 0001000697 2023-10-01 2023-12-31 0001000697 2022-12-31 0001000697 2023-05-16 0001000697 2025-02-21 0001000697 2024-06-29 0001000697 2024-03-01 2024-03-31 0001000697 2021-12-31 0001000697 us-gaap:OtherNoncurrentLiabilitiesMember 2023-12-31 0001000697 us-gaap:FairValueInputsLevel2Member us-gaap:BankTimeDepositsMember 2023-12-31 0001000697 us-gaap:BankTimeDepositsMember 2023-12-31 0001000697 us-gaap:OtherCurrentAssetsMember us-gaap:ForeignExchangeContractMember 2023-12-31 0001000697 us-gaap:OtherAssetsMember us-gaap:CrossCurrencyInterestRateContractMember 2023-12-31 0001000697 us-gaap:FairValueInputsLevel1Member us-gaap:FairValueMeasurementsRecurringMember 2023-12-31 0001000697 us-gaap:OtherCurrentLiabilitiesMember us-gaap:ForeignExchangeContractMember 2023-12-31 0001000697 us-gaap:OtherLiabilitiesMember us-gaap:CrossCurrencyInterestRateContractMember 2023-12-31 0001000697 us-gaap:OtherLiabilitiesMember wat:InterestRateSwapsCashFlowHedgesMember 2023-12-31 0001000697 us-gaap:ForeignExchangeContractMember 2023-12-31 0001000697 us-gaap:ForeignExchangeContractMember us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember 2023-12-31 0001000697 us-gaap:CrossCurrencyInterestRateContractMember 2023-12-31 0001000697 us-gaap:CrossCurrencyInterestRateContractMember us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember 2023-12-31 0001000697 us-gaap:FairValueInputsLevel2Member us-gaap:FairValueMeasurementsRecurringMember 2023-12-31 0001000697 us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsRecurringMember 2023-12-31 0001000697 us-gaap:CrossCurrencyInterestRateContractMember us-gaap:AccumulatedOtherComprehensiveIncomeMember 2023-12-31 0001000697 wat:InterestRateSwapsCashFlowHedgesMember us-gaap:AccumulatedOtherComprehensiveIncomeMember 2023-12-31 0001000697 us-gaap:UnsecuredDebtMember 2023-12-31 0001000697 us-gaap:SoftwareDevelopmentMember 2023-12-31 0001000697 wat:PatentsAndOtherIntangiblesMember 2023-12-31 0