Shareholders' Equity

12 Months Ended

Dec. 31, 2015

Stockholders' Equity Attributable to Parent [Abstract]

Shareholders' Equity [Text Block]

SHAREHOLDERS’ EQUITY

PEO Combination

On February 21, 1997, we acquired substantially all of the assets and liabilities of the electron optics business of Koninklijke Philips Electronics N.V. (the “PEO Combination”), in a transaction accounted for as a reverse acquisition. As part of the PEO Combination, we agreed to issue to Philips additional shares of our common stock whenever stock options that were outstanding on the date of the closing of the PEO Combination are exercised. Any such additional shares are issued at a rate of approximately 1.22 shares to Philips for each share issued on exercise of these options. We receive no additional consideration for these shares issued to Philips under this agreement. We did not issue any shares in 2015, 2014 or 2013to Philips under this agreement. As ofDecember 31, 2015, 165,000shares of our common stock are potentially issuable and reserved for issuance as a result of this agreement.

Share Repurchases

In May 2015, our Board of Directors reauthorized our share repurchase program. Under the reauthorization, which expires May 29, 2017, we may repurchase up to an additional2.0 millionshares of our common stock. The amount and timing of specific repurchases are subject to market conditions, applicable legal requirements and other factors. The repurchases are funded from existing cash resources and may be suspended or discontinued at any time at our discretion without prior notice.

The following table sets forth share repurchase information for the periods indicated:

	Year Ended December 31,
	2015			2014
Total number of shares repurchased	1,396,693			795,321
Average price paid per share	$	76.78		$	78.61
Total value of shares repurchased	$	107.2	million	$	62.5	million

There were no shares repurchased in 2013.

As of December 31, 2015, 934,603 shares remained available for repurchase pursuant to this program.

Dividends to Shareholders

In June 2012, we announced our plan to initiate a quarterly dividend and our Board has declared dividends each quarter since the plan’s inception. The declaration and payment of dividends to shareholders in the future is subject to the discretion of our Board of Directors.