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Shareholders' Equity
12 Months Ended
Dec. 31, 2019
Stockholders' Equity Note [Abstract]  
Shareholders' Equity Shareholders’ Equity
Authorized shares
Our authorized share capital consists of 426.0 million ordinary shares with a par value of $0.01 per share.
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 “2014 Authorization). On May 8, 2018, the Board of Directors authorized the repurchase of our ordinary shares up to a maximum dollar limit of $750.0 million (the “2018 Authorization”), replacing the 2014 Authorization. The 2018
Authorization expires on May 31, 2021.
During the year ended December 31, 2018, we repurchased 10.2 million of our ordinary shares for $500.0 million, of which 2.2 million shares, or $150.0 million, and 8.0 million shares, or $350.0 million, were repurchased pursuant to the 2014 and 2018 Authorizations, respectively.
During the year ended December 31, 2019, we repurchased 4.0 million of our ordinary shares for $150.0 million pursuant to the 2018 Authorization.
As of December 31, 2019, we had $250.0 million available for share repurchases under the 2018 Authorization.
Dividends payable
On December 9, 2019, the Board of Directors approved a 6 percent increase in the company’s regular quarterly dividend rate (from $0.18 per share to $0.19 per share) that was paid on February 7, 2020 to shareholders of record at the close of business on January 24, 2020. The balance of dividends payable included in Other current liabilities on our Consolidated Balance Sheets was $32.0 million at December 31, 2019. Dividends paid per ordinary share were $0.72, $1.05 and $1.38 for the years ended December 31, 2019, 2018 and 2017, respectively.