Shareholders' Equity

3 Months Ended

Mar. 28, 2015

Shareholders' Equity

Shareholders’ Equity

Share repurchases

In December 2014, the Board of Directors authorized the repurchase of our ordinary shares up to a maximum dollar limit of $1.0 billion. The authorization expires on December 31, 2019. During the three months endedMarch 28, 2015, we repurchased 3.1 million of our shares for $200.0 million pursuant to this authorization. As of March 28, 2015, we had $800.0 million remaining available for share repurchases under this authorization.

Dividends payable

At our 2014 annual meeting of shareholders held on May 20, 2014, our shareholders approved a proposal to pay quarterly cash dividends through the second quarter of 2015. The authorization provides that dividends of $1.20 per share will be paid to our shareholders in quarterly installments of $0.30 for each of the third and fourth quarters of 2014 and the first and second quarters of 2015. In December 2014, the Board of Directors approved an increase of $0.02 per share for the first and second quarter 2015 dividends, bringing the total quarterly dividend for those quarters to $0.32 per share. As a result, the balance of dividends payable included in Other current liabilities on our Condensed Consolidated Balance Sheets was $57.5 million and $116.8 million at March 28, 2015 and December 31, 2014, respectively.