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Subsequent Events
6 Months Ended
Jun. 30, 2015
Subsequent Events [Abstract]  
Subsequent Events
Subsequent Events

Dividend Declaration

On July 23, 2015, the Company announced that it had declared a cash dividend of $0.10 per share of common stock payable on September 22, 2015 to stockholders of record as of the close of business on September 1, 2015.

Stock Repurchase Activities

In July 2015, the Board approved an incremental $500.0 million stock repurchase authorization under the 2014 Stock Repurchase Program.

Subsequent to June 30, 2015, through the filing of this Report, the Company repurchased 1.3 million shares of its common stock, for an aggregate of $35.0 million at an average purchase price of $27.96 per share, under the 2014 Stock Repurchase Program. Repurchases of 0.9 million shares were settled prior to the filing of this Report and the remaining shares will be settled after the filing date. Under the 2014 Stock Repurchase Program, the Company has $640.0 million authorized funds remaining as of the filing date. Purchases under the Company's stock repurchase program are subject to review of the circumstances in place at the time and will be made from time to time as permitted by securities laws and other legal requirements. This program may be discontinued at any time.

Data Center Lease Agreement

On July 10, 2015, the Company entered into a data center lease agreement that will be accounted for as a build-to-suit lease, in which the Company will be deemed to be the owner of the property during the construction period. As a result, the Company will capitalize the construction cost in property, plant and equipment and record a financing liability on the Condensed Consolidated Balance Sheet during the construction period. The lease is a ten-year lease, and the Company has the option to extend the term of the lease for up to twenty years in increments of either five years or ten years, for approximately 63,000 square feet of space in the State of Washington. The total rent payment for the lease is expected to be approximately $118.1 million over the ten-year term. The lease agreement provides the Company with a tenant allowance of $6.0 million to be used for tenant leasehold improvements. Any unused tenant allowance may be applied as a credit to the rent payment. The space will be used, among other things, to consolidate certain of the Company's laboratory operations currently located in Sunnyvale, California.