Shareholders' Equity (Tables)

9 Months Ended

Sep. 30, 2022

Stockholders' Equity Note [Abstract]

Summary of comprehensive income (loss)

The following is a summary of comprehensive income (in millions):

	Three Months Ended September 30,						Nine Months Ended September 30,
	2022			2021			2022			2021
Consolidated net income	$	88.4		$	88.1		$	200.2		$	204.6
Foreign currency translation adjustments		(88.3	)		(26.6	)		(195.7	)		(80.2	)
Derivatives designated as hedging instruments, net of tax		42.9			10.5			105.5			59.3
Pension liability adjustments, net of tax		1.6			1.1			3.7			4.4
Comprehensive income		44.6			73.1			113.7			188.1
Less: Comprehensive (loss) income attributable to    noncontrolling interests		(0.3	)		0.7			(0.5	)		0.9
Less: Comprehensive loss attributable to redeemable    noncontrolling interests		(0.6	)		—			(1.3	)		—
Comprehensive income attributable to Bruker Corporation	$	45.5		$	72.4		$	115.5		$	187.2

Summary of the components of accumulated other comprehensive income (loss), net of tax

The following is a summary of the components of accumulated other comprehensive income (loss) attributable to Bruker Corporation, net of tax (in millions):

	Foreign Currency Translation			Derivatives Designated as Hedging Instruments			Pension Liability Adjustment			Accumulated Other Comprehensive Income (Loss)
Balance at December 31, 2021	$	63.1		$	(40.1	)	$	(31.2	)	$	(8.2	)
Other comprehensive (loss) income before    reclassifications		(193.1	)		105.5			2.4			(85.2	)
Realized gain on amounts reclassified from other    comprehensive income		—			—			1.3			1.3
Net current period other comprehensive (loss) income		(193.1	)		105.5			3.7			(83.9	)
Balance at September 30, 2022	$	(130.0	)	$	65.4		$	(27.5	)	$	(92.1	)

Schedule of the impact of stock-based compensation expense

The Company recorded stock-based compensation expense as follows in the unaudited condensed consolidated statements of income and comprehensive income (in millions):

	Three Months Ended September 30,				Nine Months Ended September 30,
	2022		2021		2022		2021
Cost of product revenue	$	0.2	$	0.6	$	1.0	$	1.6
Selling, general and administrative		3.3		2.6		9.2		7.6
Research and development		0.4		0.6		1.3		1.6
Total stock-based compensation expense	$	3.9	$	3.8	$	11.5	$	10.8

Schedule of Share-based Payment Award, Employee Stock Purchase Plan, Valuation Assumptions

Assumptions regarding volatility, expected life, dividend yield and risk-free interest rates are required for the Black-Scholes model and are presented in the table below:

	Nine Months Ended September 30,
	2022			2021
Risk-free interest rates		3.03	%		0.62	%
Expected life	4.4 years			4.4 years
Volatility		36	%		34	%
Expected dividend yield		0.32	%		0.20	%

Schedule of stock option activity

Stock option activity was as follows:

	Shares Subject to Options			Weighted Average Option Price		Weighted Average Remaining Contractual Term (Yrs)		Aggregate Intrinsic Value (in millions) (b)
Outstanding at December 31, 2021		1,355,152		$	30.98
Granted		73,365			65.43
Exercised		(163,439	)		24.98
Forfeited/Expired		(3,886	)		22.88
Outstanding at September 30, 2022		1,261,192		$	33.78		3.8	$	27.8
Exercisable at September 30, 2022		1,037,141		$	27.59		3.3	$	27.1
Exercisable and expected to vest at September 30, 2022 (a)		1,233,176		$	33.07		3.8	$	27.7

(a)Represents the number of vested options at September 30, 2022, plus the number of unvested options at September 30, 2022 that are ultimately expected to vest based on our estimated forfeiture rate.

The aggregate intrinsic value is based on the positive difference between the exercise price of the underlying options and the quoted price of our common stock on September 30, 2022.

Schedule of Unvested restricted stock unit activity

Restricted stock unit activity was as follows:

	Shares Subject to Restriction			Weighted Average Grant Date Value
Outstanding at December 31, 2021		654,470		$	53.44
Granted		283,681			62.93
Vested		(275,082	)		47.61
Forfeited		(25,660	)		57.02
Outstanding at September 30, 2022		637,409		$	60.04