XML 29 R18.htm IDEA: XBRL DOCUMENT v3.7.0.1
Shareholders' Equity
6 Months Ended
Jun. 30, 2017
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 six months ended June 30, 2017, we repurchased 1.5 million of our shares for $100.0 million pursuant to this authorization. As of June 30, 2017, we had $700.0 million available for share repurchases under this authorization.
Dividends payable
On December 6, 2016, the Board of Directors approved a plan to increase the 2017 annual cash dividend to $1.38, which is intended to be paid in four equal quarterly installments. Additionally, on May 9, 2017 the Board of Directors declared a quarterly cash dividend of $0.345 payable on August 4, 2017 to shareholders of record at the close of business on July 21, 2017. As a result, the balance of dividends payable included in Other current liabilities on our Consolidated Balance Sheets was $62.6 million and $61.8 million at June 30, 2017 and December 31, 2016, respectively.