Shareholders' Equity

3 Months Ended

Mar. 31, 2017

Shareholders' Equity

Shareholders' Equity

12.Shareholders’ Equity

Share Repurchase Program

In 2016, the previously announced share repurchase program was completed and at March 31, 2017 there was no active repurchase plan in place.

Cash Dividends on Shares of Common Stock

On February 22, 2016, the Company announced the establishment of a dividend policy and the declaration by its Board of Directors of an initial quarterly cash dividend in the amount of $0.04 per share of the Company’s issued and outstanding common stock. Under the dividend policy, the Company will target a cash dividend to the Company’s shareholders in the amount of $0.16 per share per annum, payable in equal quarterly installments. Dividends were paid on March 24, 2017 to shareholders of record as of March 8, 2017 for an aggregate cost of $6.4 million. Subsequent dividend declarations and the establishment of record and payment dates for such future dividend payments, if any, are subject to the Board of Directors’ continuing determination that the dividend policy is in the best interests of the Company’s shareholders. The dividend policy may be suspended or cancelled at the discretion of the Board of Directors at any time.

Accumulated Other Comprehensive Income

Comprehensive income refers to revenues, expenses, gains and losses that under U.S. GAAP are included in other comprehensive income, but excluded from net income as these amounts are recorded directly as an adjustment to shareholders’ equity, net of tax. The Company’s other comprehensive income (loss) is composed primarily of foreign currency translation adjustments and changes in the funded status of defined benefit pension plans. The following is a summary of comprehensive income (in millions):

	Three Months Ended March 31,
	2017		2016
Consolidated net income	$	21.7	$	23.6
Foreign currency translation adjustments	15.6		33.6
Pension liability adjustments	0.2		(1.0		)
Net comprehensive income	37.5		56.2
Less: Comprehensive income attributable to noncontrolling interests	0.2		0.2
Comprehensive income attributable to Bruker Corporation	$	37.3	$	56.0

The following is a summary of the components of accumulated other comprehensive income (loss), net of tax, at March 31, 2017 (in millions):

	Foreign Currency Translation			Pension Liability Adjustment			Accumulated Other Comprehensive Income (Loss)
Balance at December 31, 2016	$	(24.1	)	$	(51.8	)	$	(75.9	)
Other comprehensive income (loss) before reclassifications	15.5			(0.9		)	14.6
Realized gain on reclassification, net of tax of $0.0 million	—			1.1			1.1
Net current period other comprehensive income	15.5			0.2			15.7
Balance at March 31, 2017	$	(8.6	)	$	(51.6	)	$	(60.2	)