Bruker (BRKR) 10-Q 10 May 21 2021 Q1 Quarterly report Financial data

Cover Page

Cover Page - shares	3 Months Ended
	Mar. 31, 2021	May 03, 2021
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2021
Document Transition Report	false
Entity File Number	000-30833
Entity Registrant Name	BRUKER CORPORATION
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	04-3110160
Entity Address, Address Line One	40 Manning Road
Entity Address, City or Town	Billerica
Entity Address, Postal Zip Code	01821
Entity Address, State or Province	MA
City Area Code	978
Local Phone Number	663-3660
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Trading Symbol	BRKR
Security Exchange Name	NASDAQ
Title of 12(b) Security	Common Stock
Entity Common Stock, Shares Outstanding		151,521,114
Entity Central Index Key	0001109354
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q1
Amendment Flag	false

UNAUDITED CONDENSED CONSOLIDATE

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Mar. 31, 2021	Dec. 31, 2020
Current assets:
Cash and cash equivalents	$ 696.8	$ 681.8
Short-term investments	50	50
Accounts receivable, net	326	335.3
Inventories	700.7	692.3
Other current assets	172.7	165.6
Total current assets	1,946.2	1,925
Property, plant and equipment, net	384.1	395.5
Goodwill	313.3	320.4
Intangible assets, net	213.4	229.1
Other long-term assets	177.9	179
Total assets	3,034.9	3,049
Current liabilities:
Current portion of long-term debt	108.4	2.2
Accounts payable	152.3	134.6
Customer advances	182.2	189.2
Other current liabilities	500.6	465.9
Total current liabilities	943.5	791.9
Long-term debt	715.8	842.3
Other long-term liabilities	393.9	440.5
Commitments and contingencies (Note 14)
Shareholders' equity:
Preferred stock, $0.01 par value 5,000,000 shares authorized, none issued or outstanding	0	0
Common stock, $0.01 par value 260,000,000 shares authorized, 174,132,743 and 174,045,610 shares issued and 151,543,485 and 151,987,081 shares outstanding at March 31, 2021 and December 31, 2020, respectively	1.7	1.7
Treasury stock, at cost, 22,589,258 and 22,058,529 shares at March 31, 2021 and December 31, 2020	(699.8)	(667)
Accumulated other comprehensive (loss) income	(12.1)	3.7
Other shareholders' equity	1,677.9	1,622.8
Total shareholders' equity attributable to Bruker Corporation	967.7	961.2
Noncontrolling interest in consolidated subsidiaries	14	13.1
Total shareholders' equity	981.7	974.3
Total liabilities and shareholders' equity	$ 3,034.9	$ 3,049

UNAUDITED CONDENSED CONSOLIDA_2

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Mar. 31, 2021	Dec. 31, 2020
Statement of Financial Position [Abstract]
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized	5,000,000	5,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized	260,000,000	260,000,000
Common stock, shares issued	174,132,743	174,045,610
Common stock, shares outstanding	151,543,485	151,987,081
Treasury stock, shares	22,589,258	22,058,529

UNAUDITED CONDENSED CONSOLIDA_3

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME (LOSS) - USD ($) shares in Millions, $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Total revenue	$ 554.7	$ 424
Total cost of revenue	276	231.7
Gross profit	278.7	192.3
Operating expenses:
Selling, general and administrative	131.8	121.2
Research and development	54.8	48.5
Other charges, net	3	6.2
Total operating expenses	189.6	175.9
Operating income	89.1	16.4
Interest and other income (expense), net	(3.8)	(2.9)
Income before income taxes and noncontrolling interest in consolidated subsidiaries	85.3	13.5
Income tax provision	27.5	2.9
Consolidated net income	57.8	10.6
Net income (loss) attributable to noncontrolling interests in consolidated subsidiaries	1.1	0.1
Net income attributable to Bruker Corporation	$ 56.7	$ 10.5
Net income per common share attributable to Bruker Corporation shareholders:
Basic (in dollars per share)	$ 0.37	$ 0.07
Diluted (in dollars per share)	$ 0.37	$ 0.07
Weighted average common shares outstanding:
Basic (in shares)	151.8	154.2
Diluted (in shares)	153.2	155.4
Comprehensive income	$ 41.6	$ 12.1
Less: Comprehensive income (loss) attributable to noncontrolling interests	0.9	(0.1)
Less: Comprehensive income (loss) attributable to redeemable noncontrolling interest		(0.5)
Comprehensive income attributable to Bruker Corporation	40.7	12.7
Product
Total revenue	458.6	345
Total cost of revenue	220.9	180.5
Service
Total revenue	94.1	78.2
Total cost of revenue	54.8	51.1
Other
Total revenue	2	0.8
Total cost of revenue	$ 0.3	$ 0.1

UNAUDITED CONDENSED CONSOLIDA_4

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF REDEEMABLE NONCONTROLLING INTEREST AND SHAREHOLDERS' EQUITY - USD ($) $ in Millions	Total	Total Shareholders' Equity Attributable to Bruker Corporation	Common Stock	Treasury Stock	Additional Paid-In Capital	Retained Earnings	Accumulated Other Comprehensive Income (Loss)	Noncontrolling Interests in Consolidated Subsidiaries	Redeemable Noncontrolling Interest
Balance at beginning of period at Dec. 31, 2019	$ 917.1	$ 906.8	$ 1.7	$ (543.8)	$ 199.7	$ 1,274.7	$ (25.5)	$ 10.3	$ 21.1
Balance (in shares) at Dec. 31, 2019			154,155,798	19,346,577
Increase (Decrease) in Stockholders' Equity
Stock options exercised	0.7	0.7			0.7
Stock options exercised (in shares)			30,182
RSU vested	(0.1)	(0.1)			(0.1)
RSU vested (in shares)			40,516
Stock based compensation	3	3			3
Dividends declared to common stockholders	(7.4)	(6.2)				(6.2)		(1.2)
Acquired 80% interest in Hain LifeScience GmbH	(1.3)	(1.3)				(1.3)			(20.6)
Consolidated net income	10.6	10.5				10.5		0.1
Other comprehensive income (loss)	2	2.2					2.2	(0.2)	$ (0.5)
Balance at end of period at Mar. 31, 2020	924.6	915.6	$ 1.7	$ (543.8)	203.3	1,277.7	(23.3)	9
Balance (in shares) at Mar. 31, 2020			154,226,496	19,346,577
Balance at beginning of period at Dec. 31, 2020	974.3	961.2	$ 1.7	$ (667)	216.3	1,406.5	3.7	13.1
Balance (in shares) at Dec. 31, 2020			151,987,081	22,058,529
Increase (Decrease) in Stockholders' Equity
Stock options exercised	1.2	1.2			1.2
Stock options exercised (in shares)			65,312
RSU vested	(0.1)	(0.1)			(0.1)
RSU vested (in shares)			21,821
Stock based compensation	3.4	3.4			3.4
Shares purchased	(32.8)	(32.8)		$ (32.8)
Shares purchased (in shares)			(530,729)	530,729
Dividends declared to common stockholders	(6.1)	(6.1)				(6.1)
Consolidated net income	57.8	56.7				56.7		1.1
Other comprehensive income (loss)	(16)	(15.8)					(15.8)	(0.2)
Balance at end of period at Mar. 31, 2021	$ 981.7	$ 967.7	$ 1.7	$ (699.8)	$ 220.8	$ 1,457.1	$ (12.1)	$ 14
Balance (in shares) at Mar. 31, 2021			151,543,485	22,589,258

UNAUDITED CONDENSED CONSOLIDA_5

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF REDEEMABLE NONCONTROLLING INTEREST AND SHAREHOLDERS' EQUITY (Parenthetical) - $ / shares	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Dividends declared (per share)	$ 0.04	$ 0.04
Hain
Interest acquired		20.00%

UNAUDITED CONDENSED CONSOLIDA_6

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Cash flows from operating activities:
Consolidated net income	$ 57.8	$ 10.6
Adjustments to reconcile consolidated net income to cash flows from operating activities:
Depreciation and amortization	22.3	19
Stock-based compensation expense	3.8	3.3
Deferred income taxes	4.9	1.1
Other non-cash expenses, net	4.9	11.7
Changes in operating assets and liabilities, net of acquisitions and divestitures:
Accounts receivable	0.8	29.5
Inventories	(41.6)	(61)
Accounts payable and accrued expenses	35.5	19.1
Income taxes payable	10.1	(15)
Deferred revenue	14.1	20.6
Customer advances	2.5	16.5
Other changes in operating assets and liabilities, net	(17.1)	(20.4)
Net cash provided by operating activities	98	35
Cash flows from investing activities:
Purchases of short-term investments		(50)
Cash paid for acquisitions, net of cash acquired	(4)	(22)
Purchases of property, plant and equipment	(24.7)	(30.5)
Proceeds from sales of property, plant and equipment	1.2
Net proceeds from cross-currency swap agreements	3.5	1.9
Net cash used in investing activities	(24)	(100.6)
Cash flows from financing activities:
Proceeds from revolving lines of credit		197.5
Repayment of other debt	(0.4)	(0.3)
Proceeds from other debt	0.3	1.2
Proceeds from issuance of common stock, net	1.1	0.6
Payment of contingent consideration	(0.4)	(0.3)
Payment of dividends to common stockholders	(6.1)	(6.2)
Purchases of common stock	(32.6)
Cash payments to noncontrolling interest		(1.2)
Net cash (used in) provided by financing activities	(38.1)	191.3
Effect of exchange rate changes on cash, cash equivalents and restricted cash	(21)	(8.7)
Net change in cash, cash equivalents and restricted cash	14.9	117
Cash, cash equivalents and restricted cash at beginning of period	685.5	681.9
Cash, cash equivalents and restricted cash at end of period	700.4	798.9
Supplemental disclosure of cash flow information:
Restricted cash period beginning balance	3.7	3.6
Restricted cash period ending balance	$ 3.6	$ 3.4

Description of Business

Description of Business	3 Months Ended
	Mar. 31, 2021
Description of Business
Description of Business	1. Description of Business Bruker Corporation, together with its consolidated subsidiaries (Bruker or the Company), develops, manufactures and distributes high-performance scientific instruments and analytical and diagnostic solutions that enable its customers to explore life and materials at microscopic, molecular and cellular levels. Many of the Company’s products are used to detect, measure and visualize structural characteristics of chemical, biological and industrial material samples. The Company’s products address the rapidly evolving needs of a diverse array of customers in life science research, pharmaceuticals, biotechnology, applied markets, cell biology, clinical research, microbiology, in-vitro The Company has four operating segments, Bruker BioSpin Group, Bruker CALID Group, Bruker Scientific Instruments (BSI) Nano Segment Bruker Energy & Supercon Technologies (BEST) BSI Life Science Segment, BSI NANO Segment BEST For financial reporting purposes, the Bruker BioSpin Group and Bruker CALID Group operating segments are aggregated into the reportable BSI Life Science Segment because each has similar economic characteristics, production processes, service offerings, types and classes of customers, methods of distribution and regulatory environments. Bruker BioSpin Bruker CALID (Chemicals, Applied Markets, Life Science, In-Vitro for-profit The BSI NANO Segment designs, manufactures and distributes advanced X-ray X-ray X-ray The BEST reportable segment develops and manufactures superconducting and non-superconducting The unaudited condensed consolidated financial statements represent the consolidated accounts of the Company. All intercompany accounts and transactions have been eliminated in consolidation. The unaudited condensed consolidated financial statements as of March 31, 2021 and December 31, 2020, and for the three months ended March 31, 2021 and 2020, have been prepared in accordance with accounting principles generally accepted in the United States of America (U.S. GAAP) for interim financial information and pursuant to the rules and regulations of the Securities and Exchange Commission (SEC) for Quarterly Reports on Form 10-Q S-X. At March 31, 2021, the Company’s significant accounting policies and estimates, which are detailed in the Company’s Annual Report on Form 10-K Risks and Uncertainties The Company is subject to risks common to its industry including, but not limited to, global economic conditions, rapid technological change, government and academic funding levels, the impact of the COVID-19 The impact of the COVID-19 Impacts to the Company’s business included temporary closures in 2020 of many of the Company’s government and university customers and suppliers, disruptions or restrictions on employees’ and customers’ ability to travel, and delays in product installations or shipments to and from affected countries. In an effort to halt the outbreak of COVID-19, COVID-19 re-opening re-openings re-opened pre-pandemic The Company is continuing to monitor and assess the effects of the COVID-19 The preparation of the unaudited condensed consolidated financial statements requires the Company to make estimates, judgments and assumptions that may affect the reported amounts of assets, liabilities, equity, revenues and expenses and related disclosure of contingent assets and liabilities. On an ongoing basis the Company evaluates estimates, judgments and methodologies. Changes in estimates are recorded in the period in which they become known. The Company bases estimates on historical experience and on various other assumptions that it believes are reasonable, the results of which form the basis for making judgments about the carrying values of assets, liabilities and equity and the amount of revenues and expenses. The full extent to which the COVID-19 COVID-19, COVID-19 COVID-19

Recent Accounting Pronouncement

Recent Accounting Pronouncements	3 Months Ended
	Mar. 31, 2021
Recent Accounting Pronouncements
Recent Accounting Pronouncements	2. Recent Accounting Pronouncements In March 2020, the FASB issued Accounting Standards Updates (“ASU”) No. 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting 2020-04”), held-to-maturity. 2021-01, Reference Rate Reform (Topic 848) In January 2020, the FASB issued ASU 2020-01- Investments-Equity Securities (Topic 321), Investments-Equity Method and Joint Ventures (Topic 323), and Derivatives and Hedging (Topic 815)-Clarifying the Interactions between Topic 321, Topic 323, and Topic 815 (a consensus of the Emerging Issues Task Force) In December 2019, the FASB issued ASU 2019-12 - Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes

Revenue

Revenue	3 Months Ended
	Mar. 31, 2021
Revenue
Revenue	3. Revenue The following table presents the Company’s revenues by Group and End Customer Geography (dollars in millions): Three Months Ended 2021 2020 Revenue by Group: Bruker BioSpin $ 159.4 $ 120.9 Bruker CALID 192.4 140.5 Bruker Nano 154.4 120.1 BEST 52.4 46.2 Eliminations (3.9 ) (3.7 ) Total revenue $ 554.7 $ 424.0 Three Months Ended 2021 2020 Revenue by End Customer Geography: United States $ 119.0 $ 109.4 Germany 70.1 40.9 Rest of Europe 149.8 104.0 Asia Pacific 180.5 137.2 Other 35.3 32.5 Total revenue $ 554.7 $ 424.0 Revenue for the Company recognized at a point in time versus over time is as follows (dollars in millions): Three Months Ended 2021 2020 Revenue recognized at a point in time $ 480.0 $ 367.7 Revenue recognized over time 74.7 56.3 Total revenue $ 554.7 $ 424.0 Remaining Performance Obligations Remaining performance obligations represent the aggregate transaction price allocated to a promise to transfer a good or service that is fully or partially unsatisfied at the end of the period. As of March 31, 2021, remaining performance obligations were approximately $1,940.3 million. The Company expects to recognize revenue on approximately 65.7% of the remaining performance obligations over the next twelve months and the remaining performance obligations primarily within one Contract Balances The timing of revenue recognition, billings and cash collections results in billed accounts receivable, unbilled receivables (contract assets) and deferred revenue, customer deposits and billings in excess of revenue recognized (contract liabilities) on the Company’s unaudited condensed consolidated balance sheets. Contract assets— Contract liabilities— COVID-19

Acquisitions

Acquisitions	3 Months Ended
	Mar. 31, 2021
Acquisitions
Acquisitions	4. Acquisitions The impact of all acquisitions and investments in other entities during the three months ended March 31, 2021, individually and collectively, on revenues, net income and total assets was not material and accordingly, pro forma financial information reflecting all acquisitions has not been presented. 2021 In the three months ended March 31, 2021, the Company made investments in businesses complementary to its own portfolio Name Acquisition / Date Acquired Segment Consideration Cash Consideration Glycopath Inc. Investment February 18, 2021 BSI Life Science $ 2.0 $ 2.0 IonPath Inc Investment March 18, 2021 BSI Life Science 2.0 2.0 Acuity Spatial Genomics, Inc. Investment February 24, 2021 BSI Nano 4.5 4.5 $ 8.5 $ 8.5

Inventories

Inventories	3 Months Ended
	Mar. 31, 2021
Inventories
Inventories	5. Inventories Inventories consisted of the following (dollars in millions): March 31, December 31, Raw materials $ 197.1 $ 198.8 Work-in-process 253.2 245.7 Finished goods 157.0 152.1 Demonstration units 93.4 95.7 Inventories $ 700.7 $ 692.3 Finished goods include in-transit inventory-in-transit

Goodwill and Intangible Assets

Goodwill and Intangible Assets	3 Months Ended
	Mar. 31, 2021
Goodwill and Intangible Assets
Goodwill and Intangible Assets	6. Goodwill and Intangible Assets Goodwill The following table sets forth the changes in the carrying amount of goodwill (dollars in millions): Total Balance at December 31, 2020 $ 320.4 Current period additions/adjustments (0.3 ) Foreign currency impact (6.8 ) Balance at March 31, 2021 $ 313.3 Intangible Assets The following is a summary of intangible assets, excluding goodwill (dollars in millions): March 31, 2021 December 31, 2020 Gross Accumulated Net Carrying Gross Accumulated Net Carrying Existing technology and related patents $ 299.0 $ (192.3 ) $ 106.7 $ 309.8 $ (194.6 ) $ 115.2 Customer relationships 144.4 (48.0 ) 96.4 148.3 (45.4 ) 102.9 Trade names 14.8 (4.7 ) 10.1 15.2 (4.4 ) 10.8 Other 0.3 (0.1 ) 0.2 0.3 (0.1 ) 0.2 Intangible assets $ 458.5 $ (245.1 ) $ 213.4 $ 473.6 $ (244.5 ) $ 229.1 For the three months ended March 31, 2021 and 2020, the Company recorded amortization expense of $8.9 million and $8.7 million, respectively, related to intangible assets subject to amortization.

Debt

Debt	3 Months Ended
	Mar. 31, 2021
Debt
Debt	7. Debt The Company’s debt obligations consisted of the following (dollars in millions): March 31, December 31, US Dollar notes under the 2012 Note Purchase Agreement $ 205.0 $ 205.0 CHF notes (in dollars) under the 2019 Note Purchase Agreement 314.8 335.5 US Dollar notes under the 2019 Term Loan 300.0 300.0 Unamortized debt issuance costs (2.3 ) (2.4 ) Capital lease obligations and other loans 6.7 6.4 Total debt 824.2 844.5 Current portion of long-term debt (108.4 ) (2.2 ) Total long-term debt, less current portion $ 715.8 $ 842.3 The following is a summary of the maximum commitments and the net amounts available to the Company under its credit agreements and other lines of credit with various financial institutions located primarily in Germany and Switzerland that are unsecured and typically due upon demand with interest payable monthly, at March 31, 2021 (in millions): Weighted Average Interest Rate Total Amount Committed by Lenders Outstanding Borrowings Outstanding Letters of Credit Total Amounts 2019 Credit Agreement 1.3 % $ 600.0 $ — $ 0.2 $ 599.8 Bank guarantees and working capital line 0.0 % 120.2 — 120.2 — Total revolving lines of credit $ 720.2 $ — $ 120.4 $ 599.8 As of March 31, 2021, the Company was in compliance with the financial covenants of all debt agreements. As of March 31, 2021, the Company ha d s gains of

Fair Value of Financial Instrum

Fair Value of Financial Instruments	3 Months Ended
	Mar. 31, 2021
Fair Value of Financial Instruments
Fair Value of Financial Instruments	8. Fair Value of Financial Instruments Th e March 31, 2021 Total Quoted Prices Significant Significant Assets: Time deposits and money market funds $ 151.1 $ — $ 151.1 $ — Short-term investments 50.0 — 50.0 — Interest rate and cross currency swap agreements 7.1 — 7.1 — Forward currency contracts 0.1 — 0.1 — Fixed price commodity contracts 3.8 — 3.8 — Debt securities available for sale 1.2 — — 1.2 Total assets recorded at fair value $ 213.3 $ — $ 212.1 $ 1.2 Liabilities: Contingent consideration $ 3.3 $ — $ — $ 3.3 Hybrid instrument liability 13.8 — — 13.8 Interest rate and cross currency swap agreements 33.3 — 33.3 — Embedded derivatives in purchase and delivery contracts 0.3 — 0.3 — Forward currency contracts 1.3 — 1.3 — Total liabilities recorded at fair value $ 52.0 $ — $ 34.9 $ 17.1 December 31, 2020 Total Quoted Prices Significant Significant Assets: Time deposits and money market funds $ 183.2 $ — $ 183.2 $ — Short-term investments 50.0 — 50.0 — Interest rate and cross currency swap agreements 7.6 — 7.6 — Forward currency contracts 2.1 — 2.1 — Embedded derivatives in purchase and delivery contracts 0.1 — 0.1 — Fixed price commodity contracts 3.1 — 3.1 — Debt securities available for sale 1.2 — — 1.2 Total assets recorded at fair value $ 247.3 $ — $ 246.1 $ 1.2 Liabilities: Contingent consideration $ 4.3 $ — $ — $ 4.3 Hybrid instrument liability 13.9 — — 13.9 Interest rate and cross currency swap agreements 61.5 — 61.5 — Forward currency contracts 0.4 — 0.4 — Total liabilities recorded at fair value $ 80.1 $ — $ 61.9 $ 18.2 The Company’s financial instruments consist primarily of cash equivalents, short-term investments, restricted cash, derivative instruments consisting of forward currency contracts, cross-currency interest rate swap agreements, commodity contracts, derivatives embedded in certain purchase and sale contracts, derivatives embedded within noncontrolling interests, accounts receivable, accounts payable, contingent consideration and long-term debt. The carrying amounts of the Company’s cash equivalents, short-term investments and restricted cash, accounts receivable, borrowings under a revolving credit agreement and accounts payable approximate fair value because of their short-term nature. Derivative assets and liabilities are measured at fair value on a recurring basis. The Company’s long-term debt consists principally of a note purchase agreement entered into in 2012 and a revolving credit agreement, long term loan agreement and note purchase agreement entered into in 2019. The Company has evaluated the estimated fair value of financial instruments using available market information and management’s estimates. The use of different market assumptions and/or estimation methodologies could have a significant effect on the estimated fair value amounts. The Company measures certain assets and liabilities at fair value with changes in fair value recognized in earnings. Fair value treatment may be elected either upon initial recognition of an eligible asset or liability or, for an existing asset or liability, if an event triggers a new basis of accounting. The Company did not elect to remeasure any of its existing financial assets or liabilities and did not elect the fair value option for any financial assets or liabilities which originated during the three months ended March 31, 2021 or 2020. The fair value of the long-term fixed interest rate debt, which has been classified as Level 2, was $527.7 million and $549.8 million at March 31, 2021 and December 31, 2020, respectively, based on market and observable sources with similar maturity dates. The carrying value of our variable rate debt approximates its fair value at March 31, 2021 and December 31, 2020. On a quarterly basis, the Company reviews its short-term investments to determine if there have been any events that could create an impairment. None were noted for the three months ended March 31, 2021 or 2020. Contingent consideration recorded within other current liabilities represents the estimated fair value of future payments to the former shareholders as part of certain acquisitions. The contingent consideration is primarily based on the applicable acquired company achieving annual revenue and gross margin targets in certain years as specified in the relevant purchase and sale agreement. The Company initially values the contingent consideration on acquisition date by using a Monte Carlo simulation or an income approach method. The Monte Carlo method models future revenue and costs of goods sold projections and discounts the average results to present value. The income approach method involves calculating the earnout payment based on the forecasted cash flows, adjusting the future earnout payment for the risk of reaching the projected financials, and then discounting the future payments to present value by the counterparty risk. The counterparty risk considers the risk of the buyer having the cash to make the earnout payments and is commensurate with a cost of debt over an appropriate term. The following table sets forth the changes in contingent consideration liabilities (dollars in millions): Balance at December 31, 2020 $ 4.3 Current period adjustments (0.5 ) Current period settlements (0.4 ) Foreign currency effect (0.1 ) Balance at March 31, 2021 $ 3.3 As part of the Mestrelab acquisition, the Company entered into an agreement with the noncontrolling interest holders that provides the Company with the right to purchase, and the noncontrolling interest holders with the right to sell, the remaining 49% of Mestrelab for cash at a contractually defined redemption value. These rights (an embedded derivative) are exercisable beginning in 2022 and can be accelerated, at a discounted redemption value, upon certain events related to post combination services. As the option is tied to continued employment, the Company classified the hybrid instrument (noncontrolling interest with an embedded derivative) as a long-term liability on the consolidated balance sheet. Subsequent to the acquisition, the carrying value of the hybrid instrument is remeasured to fair value with changes recorded to stock-based compensation expense in proportion to the requisite service period vested. The hybrid instrument is classified as Level 3 in the fair value hierarchy. The following table sets forth the changes in hybrid instrument liability (dollars in millions): Balance at December 31, 2020 $ 13.9 Current period adjustments 0.4 Foreign currency effect (0.5 ) Balance at March 31, 2021 $ 13.8

Derivative Instruments and Hedg

Derivative Instruments and Hedging Activities	3 Months Ended
	Mar. 31, 2021
Derivative Instruments and Hedging Activities
Derivative Instruments and Hedging Activities	9. Derivative Instruments and Hedging Activities Commodity Price Risk Management At March 31, 2021 and December 31, 2020, the Company had fixed price commodity contracts with notional amounts aggregating $5.8 million and $8.8 million, respectively. As commodity contracts settle, gains (losses) as a result of changes in fair values are adjusted to the contracts with the customers through revenues. Foreign Exchange Rate Risk Management The Company had the following notional amounts outstanding under foreign exchange contracts and cross-currency interest rate swap agreements (in millions): March 31, 2021 December 31, 2020 Notional Fair Value Notional Fair Value Forward Currency Contracts (1): Assets $ 10.0 $ 0.1 $ 175.8 $ 2.1 Liabilities 121.3 (1.3 ) 102.5 (0.4 ) Cross-Currency and Interest Rate Swap Agreements (2): Liabilities 505.0 (26.2 ) 505.0 (53.9 ) $ 636.3 $ (27.4 ) $ 783.3 $ (52.2 ) (1) Derivatives not designated as accounting hedges. (2) Derivatives designated as accounting hedges. In addition, the Company periodically enters into purchase and sales contracts denominated in currencies other than the functional currency of the parties to the transaction. The Company accounts for these transactions separately valuing the “embedded derivative” component of these contracts. The se The derivative instruments described above are recorded in the unaudited condensed consolidated balance sheets as follows (dollars in millions): March 31, 2021 December 31, 2020 Derivatives designated as hedging instruments Interest rate cross-currency swap agreements Other current assets $ 7.1 $ 7.6 Other current liabilities (9.3 ) (4.3 ) Other long-term liabilities (24.0 ) (57.2 ) Total derivatives designated as hedging instruments (26.2 ) (53.9 ) Derivatives not designated as hedging instruments Forward currency contracts Other current assets $ 0.1 $ 2.1 Other current liabilities (1.3 ) (0.4 ) Embedded derivatives in purchase and delivery contracts Other current assets — 0.1 Other current liabilities (0.3 ) — Fixed price commodity contracts Other current assets 3.8 3.1 Total derivatives not designated as hedging instruments 2.3 4.9 Total derivatives $ (23.9 ) $ (49.0 ) The following is a summary of the activity included in the unaudited condensed consolidated statements of income and comprehensive income loss related to the derivative instruments described above (in millions): Three Months Ended March 31, Financial Statement Classification 2021 2020 Derivatives not designated as hedging instruments Forward currency contracts Interest and other income (expense), net $ (5.0 ) $ (0.5 ) Embedded derivatives in purchase and delivery contracts Interest and other income (expense), net (0.4 ) 0.6 $ (5.4 ) $ 0.1 Derivatives designated as Cash Flow hedging instruments Interest rate cross-currency swap agreements Interest incurred Interest and other income (expense), net $ (1.1 ) $ — Unrealized gains (losses) on contracts Accumulated other comprehensive income 9.9 (19.0 ) $ 8.8 $ (19.0 ) Derivatives designated as Net Investment hedging instruments Interest rate cross-currency swap agreements Interest earned Interest and other income (expense), net $ 2.5 $ 2.6 Unrealized gains on contracts Accumulated other comprehensive income 17.8 29.9 $ 20.3 $ 32.5

Provision for Income Taxes

Provision for Income Taxes	3 Months Ended
	Mar. 31, 2021
Income Taxes
Provision for Income Taxes	10. Provision for Income Taxes The Company accounts for income taxes using the asset and liability approach by recognizing deferred tax assets and liabilities for the expected future tax consequences of differences between the financial statement basis and the tax basis of assets and liabilities, calculated using enacted tax rates in effect for the year in which the differences are expected to be reflected in the tax return. The Company records a valuation allowance to reduce deferred tax assets to the amount that is more likely than not to be realized. In addition, the Company accounts for uncertain tax positions that have reached a minimum recognition threshold. The income tax provision for the three months ended March 31, 2021 and 2020 was $27.5 million and $2.9 million, respectively, representing effective tax rates of 32.2% and 21.5%, respectively. The Company’s effective tax rate may change over time as the amount or mix of income and taxes changes among the jurisdictions in which the Company is subject to tax. The increase in our effective tax rate was primarily due to the jurisdictional mix and the impact of unfavorable discrete items in the period. As of March 31, 2021 and December 31, 2020, the Company had gross unrecognized tax benefits, excluding penalties and interest, of approximately $24.3 million and $22.7 million, respectively, which, if recognized, would result in a reduction of the Company’s effective tax rate. The Company recognizes penalties and interest related to unrecognized tax benefits in the provision for income taxes. As of March 31, 2021 and December 31, 2020, approximately $1.9 million and $1.8 million, respectively, of accrued interest and penalties related to uncertain tax positions was included in other long-term liabilities on the Company’s unaudited condensed consolidated balance sheets. The Company files tax returns in the United States, which includes federal, state and local jurisdictions, and many foreign jurisdictions with varying statutes of limitations. The Company considers Germany, the United States and Switzerland to be its significant tax jurisdictions. The majority of the Company’s earnings are derived in Germany and Switzerland. Accounting for the various federal and local taxing authorities, the statutory rates for 2021 are approximately 30.0% and 20.0% for Germany and Switzerland, respectively. The mix of earnings in those two jurisdictions resulted in an increase of 5.1% from the U.S. statutory rate of 21.0% in the three months ended March 31, 2021. On March 27, 2020 the House passed the Coronavirus Aid, Relief, and Economic Security Act (The CARES Act COVID-19

Earnings Per Share

Earnings Per Share	3 Months Ended
	Mar. 31, 2021
Earnings Per Share
Earnings Per Share	11. Earnings Per Share The following table sets forth the computation of basic and diluted weighted average shares outstanding and net income per common share attributable to Bruker shareholders (dollars in millions, except per share amounts): Three Months Ended March 31, 2021 2020 Net income attributable to Bruker Corporation, as reported $ 56.7 $ 10.5 Weighted average shares outstanding: Weighted average shares outstanding-basic 151.8 154.2 Effect of dilutive securities: Stock options and restricted stock awards and units 1.4 1.2 153.2 155.4 Net income per common share attributable to Bruker Corporation shareholders: Basic $ 0.37 $ 0.07 Diluted $ 0.37 $ 0.07 The following common share equivalents have been excluded from the computation of diluted weighted-average shares outstanding, as their effect would have been anti-dilutive (amounts in millions of shares): Three Months Ended 2021 2020 Stock options — 0.1 Unvested restricted stock units — —

Shareholders' Equity

Shareholders' Equity	3 Months Ended
	Mar. 31, 2021
Shareholders' Equity
Shareholders' Equity	12. Shareholders’ Equity Share Repurchase Program In May 2019, the Company’s Board of Directors approved a stock repurchase plan authorizing the purchase of common stock in the amount of up to $300.0 million from time to time, in amounts, at prices, and at such times as management deems appropriate, subject to market conditions, legal requirements and other considerations. During the quarter ended March 31, 2021, the Company purchased a total of 530,729 shares at an aggregate cost of $32.8 million under the share repurchase plan. There were no purchases under the plan in the three months ended March 31, 2020. At March 31, 2021, $1.7 million remained available for future purchases under the plan. We completed the share purchase program in April 2021, after reaching the maximum cumulative spend. This share repurchase plan was set to expire on May 13, 2021. Accumulated Other Comprehensive Income (Loss) The following is a summary of comprehensive income (dollars in millions): Three Months Ended March 31, 2021 2020 Consolidated net income $ 57.8 $ 10.6 Foreign currency translation adjustments (19.5 ) (13.0 ) Pension liability adjustments, net of tax 3.3 14.5 Net comprehensive income 41.6 12.1 Less: Comprehensive income (loss) 0.9 (0.1 ) Less: Comprehensive income (loss) — (0.5 ) Comprehensive income attributable to Bruker Corporation $ 40.7 $ 12.7 The following is a summary of the components of accumulated other comprehensive income (loss), net of tax (dollars in millions): Foreign Pension Accumulated Income Balance at December 31, 2020 $ 49.4 $ (45.7 ) $ 3.7 Other comprehensive income (loss) before reclassifications (19.1 ) 2.6 (16.5 ) Realized loss on amounts reclassified from other comprehensive income (loss), net of tax — 0.7 0.7 Net current period other comprehensive income (loss) (19.1 ) 3.3 (15.8 ) Balance at March 31, 2021 $ 30.3 $ (42.4 ) $ (12.1 ) Stock-Based Compensation The Company recorded stock-based compensation expense as follows in the unaudited condensed consolidated statements of income and comprehensive income (dollars in millions): Three Months Ended March 31, 2021 2020 Costs of product revenue $ 0.5 $ 0.5 Selling, general and administrative 2.4 2.0 Research and development 0.5 0.5 Total stock-based compensation $ 3.4 $ 3.0 In addition to the awards above, the Company recorded stock-based compensation expense within other charges, net of $0.4 million and $0.3 million in the three months ended March 31, 2021 and 2020, respectively, related to the 2018 acquisition of Mestrelab Research, S.L. (Mestrelab). At March 31, 2021, the Company had $23.4 million of unrecognized compensation expense related to employees and directors’ unvested stock units and stock options that are expected to be recognized over a weighted average period of 2.3 years.

Other Charges, Net

Other Charges, Net	3 Months Ended
	Mar. 31, 2021
Other Charges (Gain), Net
Other Charges, Net	13. Other Charges, Net Other Charges, Net The components of other charges, net were as follows (dollars in millions): Three Months Ended March 31, 2021 2020 Information technology transformation costs $ 0.7 $ 0.9 Professional fees incurred in connection with investigation matters 0.1 3.4 Restructuring charges 1.3 1.5 Acquisition-related charges 0.9 (1.1 ) Long-lived asset impairments — 1.2 Other — 0.3 Other charges, net $ 3.0 $ 6.2 Restructuring Initiatives Restructuring charges include charges for various programs that were recorded in the accompanying unaudited condensed consolidated statements of income and comprehensive income. The following table sets forth the restructuring charges (dollars in millions): Three Months Ended March 31, 2021 2020 Cost of revenues $ 1.1 $ 0.8 Other charges, net 1.3 1.5 $ 2.4 $ 2.3 The following table sets forth the changes in restructuring reserves (dollars in millions): Total Severance Exit Costs Provisions Balance at December 31, 2020 $ 9.8 $ 7.6 $ 0.8 $ 1.4 Restructuring charges 2.4 2.2 0.2 — Cash payments (5.2 ) (4.7 ) (0.5 ) — Other, non-cash (0.1 ) — — (0.1 ) Balance at March 31, 2021 $ 6.9 $ 5.1 $ 0.5 $ 1.3

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2021
Commitments And Contingencies
Commitments and Contingencies	14. Commitments and Contingencies In accordance with ASC Topic 450, Contingencies, the Company accrues anticipated costs of settlement, damages or other costs to the extent specific losses are probable and estimable. Litigation and Related Contingencies Lawsuits, claims and proceedings of a nature considered normal to its businesses may be pending from time to time against the Company. Third parties might allege that the Company or its collaborators are infringing their patent rights or that the Company is otherwise violating their intellectual property rights. Loss contingency provisions are recorded if the potential loss from any claim, asserted or unasserted, or legal proceeding is considered probable and the amount can be reasonably estimated or a range of loss can be determined. These accruals represent management’s best estimate of probable loss. Disclosure is also provided when it is reasonably possible that a loss will be incurred or when it is reasonably possible that the amount of a loss will exceed the recorded provision. The Company believes the outcome of pending proceedings, individually and in the aggregate, will not have a material impact on the Company’s financial statements. On September 25, 2019, in a complaint filed in the Düsseldorf, Germany, District Court, Carl Zeiss Microscopy GmbH, a subsidiary of Carl Zeiss AG (Zeiss), sued Luxendo GmbH (Luxendo), a subsidiary of Bruker Corporation, for infringement of a recently registered German utility model patent licensed to Zeiss pertaining to one specific Luxendo product category. The Company is vigorously defending against this claim . On September 23, 2019, in a complaint filed in the Düsseldorf, Germany, District Court, Micromass UK Limited (Micromass), a subsidiary of Waters Corporation, sued Bruker Corporation, as well as its affiliate, Bruker Daltonik GmbH, for infringement of a European patent pertaining to our timsTOF product line. Bruker was later notified that Micromass had expanded its complaint in Düsseldorf to assert another recently granted European patent in Germany. On March 5, 2021, the parties entered into a Patent License Agreement pursuant to which Bruker licensed certain patents from Micromass and agreed to pay a one-time, upfront $ million payment in the second quarter of 2021 and agreed to pay royalties, subject to a quarterly minimum, on certain Tims TOF systems commencing March 1, 2022. In addition, pursuant to the Patent License Agreement, all claims between the parties in connection with this and other pending infringement matters were settled and dismissed with prejudice. The settlement of this matter did not and is not expected to materially impact the Company’s results of operations . As of March 31, 2021 and December 31, 2020, no material accruals have been recorded for potential contingencies.

Business Segment Information

Business Segment Information	3 Months Ended
	Mar. 31, 2021
Business Segment Information
Business Segment Information	15. Business Segment Information The Company has three reportable segments, BSI Life Science, BSI NANO and BEST, as discussed in Note 1 to the consolidated financial statements. Revenue and operating income by reportable segment are presented below (dollars in millions): Three Months Ended March 31, 2021 2020 Revenue: BSI Life Science $ 351.8 $ 261.4 BSI NANO 154.4 120.1 BEST 52.4 46.2 Eliminations (a) (3.9 ) (3.7 ) Total revenue $ 554.7 $ 424.0 Operating Income (loss) BSI Life Science $ 88.9 $ 39.5 BSI NANO 12.3 (8.0 ) BEST 4.1 1.7 Corporate, eliminations and other (b) (16.2 ) (16.8 ) Total operating income $ 89.1 $ 16.4 (a) Represents product and service revenue between reportable segments. (b) Represents corporate costs and eliminations not allocated to the reportable segments. Total assets by reportable segment are as follows (dollars in millions): March 31, December 31, Assets: BSI Life Science, BSI NANO & Corporate $ 2,947.8 $ 2,964.5 BEST 92.3 88.7 Eliminations and other (a) (5.2 ) (4.2 ) Total assets $ 3,034.9 $ 3,049.0 (a) Assets not allocated to the reportable segments and eliminations of intercompany transactions. The Company is unable, without unreasonable effort or expense, to disclose the amount of total assets by BSI Life Science and BSI NANO Segments as well as the Corporate function and further, the Company’s chief operating decision maker does not receive any asset information by operating segment.

Revenue (Tables)

Revenue (Tables)	3 Months Ended
	Mar. 31, 2021
Revenue
Schedule of revenues disaggregated by Group, end customer geographical location and timing of recognition	The following table presents the Company’s revenues by Group and End Customer Geography (dollars in millions): Three Months Ended 2021 2020 Revenue by Group: Bruker BioSpin $ 159.4 $ 120.9 Bruker CALID 192.4 140.5 Bruker Nano 154.4 120.1 BEST 52.4 46.2 Eliminations (3.9 ) (3.7 ) Total revenue $ 554.7 $ 424.0 Three Months Ended 2021 2020 Revenue by End Customer Geography: United States $ 119.0 $ 109.4 Germany 70.1 40.9 Rest of Europe 149.8 104.0 Asia Pacific 180.5 137.2 Other 35.3 32.5 Total revenue $ 554.7 $ 424.0 Revenue for the Company recognized at a point in time versus over time is as follows (dollars in millions): Three Months Ended 2021 2020 Revenue recognized at a point in time $ 480.0 $ 367.7 Revenue recognized over time 74.7 56.3 Total revenue $ 554.7 $ 424.0

Acquisitions (Tables)

Acquisitions (Tables)	3 Months Ended
	Mar. 31, 2021
2021 Acquisitions
Acquisitions
Schedule of components and fair value allocation of the consideration transferred in connection with acquisitions	The following table reflects the consideration transferred and the respective reporting segment for these investments (in millions): Name Acquisition / Date Acquired Segment Consideration Cash Consideration Glycopath Inc. Investment February 18, 2021 BSI Life Science $ 2.0 $ 2.0 IonPath Inc Investment March 18, 2021 BSI Life Science 2.0 2.0 Acuity Spatial Genomics, Inc. Investment February 24, 2021 BSI Nano 4.5 4.5 $ 8.5 $ 8.5

Inventories (Tables)

Inventories (Tables)	3 Months Ended
	Mar. 31, 2021
Inventories
Schedule of inventories	Inventories consisted of the following (dollars in millions): March 31, December 31, Raw materials $ 197.1 $ 198.8 Work-in-process 253.2 245.7 Finished goods 157.0 152.1 Demonstration units 93.4 95.7 Inventories $ 700.7 $ 692.3

Goodwill and Intangible Assets

Goodwill and Intangible Assets (Tables)	3 Months Ended
	Mar. 31, 2021
Goodwill and Intangible Assets
Schedule of changes in the carrying amount of goodwill	The following table sets forth the changes in the carrying amount of goodwill (dollars in millions): Total Balance at December 31, 2020 $ 320.4 Current period additions/adjustments (0.3 ) Foreign currency impact (6.8 ) Balance at March 31, 2021 $ 313.3
Summary of intangible assets	The following is a summary of intangible assets, excluding goodwill (dollars in millions): March 31, 2021 December 31, 2020 Gross Accumulated Net Carrying Gross Accumulated Net Carrying Existing technology and related patents $ 299.0 $ (192.3 ) $ 106.7 $ 309.8 $ (194.6 ) $ 115.2 Customer relationships 144.4 (48.0 ) 96.4 148.3 (45.4 ) 102.9 Trade names 14.8 (4.7 ) 10.1 15.2 (4.4 ) 10.8 Other 0.3 (0.1 ) 0.2 0.3 (0.1 ) 0.2 Intangible assets $ 458.5 $ (245.1 ) $ 213.4 $ 473.6 $ (244.5 ) $ 229.1

Debt (Tables)

Debt (Tables)	3 Months Ended
	Mar. 31, 2021
Debt
Components of debt obligations	The Company’s debt obligations consisted of the following (dollars in millions): March 31, December 31, US Dollar notes under the 2012 Note Purchase Agreement $ 205.0 $ 205.0 CHF notes (in dollars) under the 2019 Note Purchase Agreement 314.8 335.5 US Dollar notes under the 2019 Term Loan 300.0 300.0 Unamortized debt issuance costs (2.3 ) (2.4 ) Capital lease obligations and other loans 6.7 6.4 Total debt 824.2 844.5 Current portion of long-term debt (108.4 ) (2.2 ) Total long-term debt, less current portion $ 715.8 $ 842.3
Summary of maximum commitments and net amounts available under the 2015 Credit Agreement and other lines of credit	The following is a summary of the maximum commitments and the net amounts available to the Company under its credit agreements and other lines of credit with various financial institutions located primarily in Germany and Switzerland that are unsecured and typically due upon demand with interest payable monthly, at March 31, 2021 (in millions): Weighted Average Interest Rate Total Amount Committed by Lenders Outstanding Borrowings Outstanding Letters of Credit Total Amounts 2019 Credit Agreement 1.3 % $ 600.0 $ — $ 0.2 $ 599.8 Bank guarantees and working capital line 0.0 % 120.2 — 120.2 — Total revolving lines of credit $ 720.2 $ — $ 120.4 $ 599.8

Fair Value of Financial Instr_2

Fair Value of Financial Instruments (Tables)	3 Months Ended
	Mar. 31, 2021
Fair Value of Financial Instruments
Schedule of financial instruments measured at fair value on a recurring basis	Th e March 31, 2021 Total Quoted Prices Significant Significant Assets: Time deposits and money market funds $ 151.1 $ — $ 151.1 $ — Short-term investments 50.0 — 50.0 — Interest rate and cross currency swap agreements 7.1 — 7.1 — Forward currency contracts 0.1 — 0.1 — Fixed price commodity contracts 3.8 — 3.8 — Debt securities available for sale 1.2 — — 1.2 Total assets recorded at fair value $ 213.3 $ — $ 212.1 $ 1.2 Liabilities: Contingent consideration $ 3.3 $ — $ — $ 3.3 Hybrid instrument liability 13.8 — — 13.8 Interest rate and cross currency swap agreements 33.3 — 33.3 — Embedded derivatives in purchase and delivery contracts 0.3 — 0.3 — Forward currency contracts 1.3 — 1.3 — Total liabilities recorded at fair value $ 52.0 $ — $ 34.9 $ 17.1 December 31, 2020 Total Quoted Prices Significant Significant Assets: Time deposits and money market funds $ 183.2 $ — $ 183.2 $ — Short-term investments 50.0 — 50.0 — Interest rate and cross currency swap agreements 7.6 — 7.6 — Forward currency contracts 2.1 — 2.1 — Embedded derivatives in purchase and delivery contracts 0.1 — 0.1 — Fixed price commodity contracts 3.1 — 3.1 — Debt securities available for sale 1.2 — — 1.2 Total assets recorded at fair value $ 247.3 $ — $ 246.1 $ 1.2 Liabilities: Contingent consideration $ 4.3 $ — $ — $ 4.3 Hybrid instrument liability 13.9 — — 13.9 Interest rate and cross currency swap agreements 61.5 — 61.5 — Forward currency contracts 0.4 — 0.4 — Total liabilities recorded at fair value $ 80.1 $ — $ 61.9 $ 18.2
Schedule of changes in contingent consideration liabilities	The following table sets forth the changes in contingent consideration liabilities (dollars in millions): Balance at December 31, 2020 $ 4.3 Current period adjustments (0.5 ) Current period settlements (0.4 ) Foreign currency effect (0.1 ) Balance at March 31, 2021 $ 3.3
Schedule of changes in hybrid instrument liability	The following table sets forth the changes in hybrid instrument liability (dollars in millions): Balance at December 31, 2020 $ 13.9 Current period adjustments 0.4 Foreign currency effect (0.5 ) Balance at March 31, 2021 $ 13.8

Derivative Instruments and He_2

Derivative Instruments and Hedging Activities (Tables)	3 Months Ended
	Mar. 31, 2021
Derivative Instruments and Hedging Activities
Schedule of notional amounts outstanding under foreign currency contracts	The Company had the following notional amounts outstanding under foreign exchange contracts and cross-currency interest rate swap agreements (in millions): March 31, 2021 December 31, 2020 Notional Fair Value Notional Fair Value Forward Currency Contracts (1): Assets $ 10.0 $ 0.1 $ 175.8 $ 2.1 Liabilities 121.3 (1.3 ) 102.5 (0.4 ) Cross-Currency and Interest Rate Swap Agreements (2): Liabilities 505.0 (26.2 ) 505.0 (53.9 ) $ 636.3 $ (27.4 ) $ 783.3 $ (52.2 ) (1) Derivatives not designated as accounting hedges. (2) Derivatives designated as accounting hedges.
Schedule of fair value and balance sheet location of derivative instruments	The derivative instruments described above are recorded in the unaudited condensed consolidated balance sheets as follows (dollars in millions): March 31, 2021 December 31, 2020 Derivatives designated as hedging instruments Interest rate cross-currency swap agreements Other current assets $ 7.1 $ 7.6 Other current liabilities (9.3 ) (4.3 ) Other long-term liabilities (24.0 ) (57.2 ) Total derivatives designated as hedging instruments (26.2 ) (53.9 ) Derivatives not designated as hedging instruments Forward currency contracts Other current assets $ 0.1 $ 2.1 Other current liabilities (1.3 ) (0.4 ) Embedded derivatives in purchase and delivery contracts Other current assets — 0.1 Other current liabilities (0.3 ) — Fixed price commodity contracts Other current assets 3.8 3.1 Total derivatives not designated as hedging instruments 2.3 4.9 Total derivatives $ (23.9 ) $ (49.0 )
Schedule of impact on net income of unrealized gains and losses resulting from changes in the fair value of derivative instruments	The following is a summary of the activity included in the unaudited condensed consolidated statements of income and comprehensive income loss related to the derivative instruments described above (in millions): Three Months Ended March 31, Financial Statement Classification 2021 2020 Derivatives not designated as hedging instruments Forward currency contracts Interest and other income (expense), net $ (5.0 ) $ (0.5 ) Embedded derivatives in purchase and delivery contracts Interest and other income (expense), net (0.4 ) 0.6 $ (5.4 ) $ 0.1 Derivatives designated as Cash Flow hedging instruments Interest rate cross-currency swap agreements Interest incurred Interest and other income (expense), net $ (1.1 ) $ — Unrealized gains (losses) on contracts Accumulated other comprehensive income 9.9 (19.0 ) $ 8.8 $ (19.0 ) Derivatives designated as Net Investment hedging instruments Interest rate cross-currency swap agreements Interest earned Interest and other income (expense), net $ 2.5 $ 2.6 Unrealized gains on contracts Accumulated other comprehensive income 17.8 29.9 $ 20.3 $ 32.5

Earnings Per Share (Tables)

Earnings Per Share (Tables)	3 Months Ended
	Mar. 31, 2021
Earnings Per Share
Computation of basic and diluted weighted average shares outstanding and net income per common share	Three Months Ended March 31, 2021 2020 Net income attributable to Bruker Corporation, as reported $ 56.7 $ 10.5 Weighted average shares outstanding: Weighted average shares outstanding-basic 151.8 154.2 Effect of dilutive securities: Stock options and restricted stock awards and units 1.4 1.2 153.2 155.4 Net income per common share attributable to Bruker Corporation shareholders: Basic $ 0.37 $ 0.07 Diluted $ 0.37 $ 0.07
Schedule of common share equivalents have been excluded from the computation of diluted weighted-average shares outstanding, as their effect would have been anti-dilutive	The following common share equivalents have been excluded from the computation of diluted weighted-average shares outstanding, as their effect would have been anti-dilutive (amounts in millions of shares): Three Months Ended 2021 2020 Stock options — 0.1 Unvested restricted stock units — —

Shareholders' Equity (Tables)

Shareholders' Equity (Tables)	3 Months Ended
	Mar. 31, 2021
Shareholders' Equity
Summary of comprehensive income (loss)	Three Months Ended March 31, 2021 2020 Consolidated net income $ 57.8 $ 10.6 Foreign currency translation adjustments (19.5 ) (13.0 ) Pension liability adjustments, net of tax 3.3 14.5 Net comprehensive income 41.6 12.1 Less: Comprehensive income (loss) 0.9 (0.1 ) Less: Comprehensive income (loss) — (0.5 ) Comprehensive income attributable to Bruker Corporation $ 40.7 $ 12.7
Summary of the components of accumulated other comprehensive income (loss), net of tax	The following is a summary of the components of accumulated other comprehensive income (loss), net of tax (dollars in millions): Foreign Pension Accumulated Income Balance at December 31, 2020 $ 49.4 $ (45.7 ) $ 3.7 Other comprehensive income (loss) before reclassifications (19.1 ) 2.6 (16.5 ) Realized loss on amounts reclassified from other comprehensive income (loss), net of tax — 0.7 0.7 Net current period other comprehensive income (loss) (19.1 ) 3.3 (15.8 ) Balance at March 31, 2021 $ 30.3 $ (42.4 ) $ (12.1 )
Schedule of the impact of stock-based compensation expense	The Company recorded stock-based compensation expense as follows in the unaudited condensed consolidated statements of income and comprehensive income (dollars in millions): Three Months Ended March 31, 2021 2020 Costs of product revenue $ 0.5 $ 0.5 Selling, general and administrative 2.4 2.0 Research and development 0.5 0.5 Total stock-based compensation $ 3.4 $ 3.0

Other Charges, Net (Tables)

Other Charges, Net (Tables)	3 Months Ended
	Mar. 31, 2021
Other Charges, Net
Schedule of components of other charges, net	The components of other charges, net were as follows (dollars in millions): Three Months Ended March 31, 2021 2020 Information technology transformation costs $ 0.7 $ 0.9 Professional fees incurred in connection with investigation matters 0.1 3.4 Restructuring charges 1.3 1.5 Acquisition-related charges 0.9 (1.1 ) Long-lived asset impairments — 1.2 Other — 0.3 Other charges, net $ 3.0 $ 6.2
Summary of restructuring charges	Restructuring charges include charges for various programs that were recorded in the accompanying unaudited condensed consolidated statements of income and comprehensive income. The following table sets forth the restructuring charges (dollars in millions): Three Months Ended March 31, 2021 2020 Cost of revenues $ 1.1 $ 0.8 Other charges, net 1.3 1.5 $ 2.4 $ 2.3
Schedule of changes in restructuring reserves	The following table sets forth the changes in restructuring reserves (dollars in millions): Total Severance Exit Costs Provisions Balance at December 31, 2020 $ 9.8 $ 7.6 $ 0.8 $ 1.4 Restructuring charges 2.4 2.2 0.2 — Cash payments (5.2 ) (4.7 ) (0.5 ) — Other, non-cash (0.1 ) — — (0.1 ) Balance at March 31, 2021 $ 6.9 $ 5.1 $ 0.5 $ 1.3

Business Segment Information (T

Business Segment Information (Tables)	3 Months Ended
	Mar. 31, 2021
Business Segment Information
Schedule of revenue, operating income and total assets by reportable segment	Revenue and operating income by reportable segment are presented below (dollars in millions): Three Months Ended March 31, 2021 2020 Revenue: BSI Life Science $ 351.8 $ 261.4 BSI NANO 154.4 120.1 BEST 52.4 46.2 Eliminations (a) (3.9 ) (3.7 ) Total revenue $ 554.7 $ 424.0 Operating Income (loss) BSI Life Science $ 88.9 $ 39.5 BSI NANO 12.3 (8.0 ) BEST 4.1 1.7 Corporate, eliminations and other (b) (16.2 ) (16.8 ) Total operating income $ 89.1 $ 16.4 (a) Represents product and service revenue between reportable segments. (b) Represents corporate costs and eliminations not allocated to the reportable segments. Total assets by reportable segment are as follows (dollars in millions): March 31, December 31, Assets: BSI Life Science, BSI NANO & Corporate $ 2,947.8 $ 2,964.5 BEST 92.3 88.7 Eliminations and other (a) (5.2 ) (4.2 ) Total assets $ 3,034.9 $ 3,049.0 (a) Assets not allocated to the reportable segments and eliminations of intercompany transactions.

Description of Business (Detail

Description of Business (Details)	3 Months Ended
	Mar. 31, 2021segment
Description of Business
Number of operating segments	4
Number of reportable segments	3

Revenue - Disaggregation (Detai

Revenue - Disaggregation (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Revenues disaggregated by Group
Total revenue	$ 554.7	$ 424
Revenue recognized at a point in time
Revenues disaggregated by Group
Total revenue	480	367.7
Revenue recognized over time
Revenues disaggregated by Group
Total revenue	74.7	56.3
United States
Revenues disaggregated by Group
Total revenue	119	109.4
Germany
Revenues disaggregated by Group
Total revenue	70.1	40.9
Rest of Europe
Revenues disaggregated by Group
Total revenue	149.8	104
Asia Pacific
Revenues disaggregated by Group
Total revenue	180.5	137.2
Other
Revenues disaggregated by Group
Total revenue	35.3	32.5
Bruker BioSpin
Revenues disaggregated by Group
Total revenue	159.4	120.9
Bruker CALID
Revenues disaggregated by Group
Total revenue	192.4	140.5
Bruker Nano
Revenues disaggregated by Group
Total revenue	154.4	120.1
BEST
Revenues disaggregated by Group
Total revenue	52.4	46.2
Eliminations
Revenues disaggregated by Group
Total revenue	$ (3.9)	$ (3.7)

Revenue - Remaining Performance

Revenue - Remaining Performance Obligations (Details) $ in Millions	Mar. 31, 2021USD ($)
Remaining Performance Obligations
Amount of remaining performance obligations	$ 1,940.3
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2020-01-01
Remaining Performance Obligations
Remaining performance obligation expected to be recognized in the given period (as a percent)	65.70%
Duration of expected recognition period for remaining performance obligation	12 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2020-01-01 | Minimum
Remaining Performance Obligations
Duration of expected recognition period for remaining performance obligation	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2020-01-01 | Maximum
Remaining Performance Obligations
Duration of expected recognition period for remaining performance obligation	3 years

Revenue - Contract Balances (De

Revenue - Contract Balances (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2021	Dec. 31, 2020
Revenue
Contract assets	$ 48.8	$ 41.8
Contract liabilities	407.5	$ 399.4
Revenue recognition during the period	$ 121.4

Acquisitions - Consideration tr

Acquisitions - Consideration transferred and reportable segment (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Business Acquisition [Line Items]
Cash Consideration	$ 4	$ 22
2021 Acquisitions
Business Acquisition [Line Items]
Consideration	8.5
Cash Consideration	8.5
Glycopath Inc. | BSI Life Science
Business Acquisition [Line Items]
Consideration	2
Cash Consideration	2
IonPath Inc | BSI Life Science
Business Acquisition [Line Items]
Consideration	2
Cash Consideration	2
Acuity Spatial Genomics, Inc. | BSI NANO
Business Acquisition [Line Items]
Consideration	4.5
Cash Consideration	$ 4.5

Inventories (Details)

Inventories (Details) - USD ($) $ in Millions	Mar. 31, 2021	Dec. 31, 2020
Inventories
Raw materials	$ 197.1	$ 198.8
Work-in-process	253.2	245.7
Finished goods	157	152.1
Demonstration units	93.4	95.7
Inventories	700.7	692.3
Inventory-in-transit	$ 59.6	$ 67.8

Goodwill and Intangible Asset_2

Goodwill and Intangible Assets - Goodwill (Details) $ in Millions	3 Months Ended
	Mar. 31, 2021USD ($)
Goodwill
Balance at the beginning of the period	$ 320.4
Current period additions/adjustments	(0.3)
Foreign currency impact	(6.8)
Balance at the end of the period	$ 313.3

Goodwill and Intangible Asset_3

Goodwill and Intangible Assets - Intangible Assets (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Dec. 31, 2020
Intangible assets
Gross Carrying Amount, intangible assets subject to amortization	$ 458.5		$ 473.6
Accumulated Amortization, intangible assets subject to amortization	(245.1)		(244.5)
Net Carrying Amount, intangible assets subject to amortization	213.4		229.1
Amortization expense related to intangible assets subject to amortization	8.9	$ 8.7
Technology
Intangible assets
Gross Carrying Amount, intangible assets subject to amortization	299		309.8
Accumulated Amortization, intangible assets subject to amortization	(192.3)		(194.6)
Net Carrying Amount, intangible assets subject to amortization	106.7		115.2
Customer relationships
Intangible assets
Gross Carrying Amount, intangible assets subject to amortization	144.4		148.3
Accumulated Amortization, intangible assets subject to amortization	(48)		(45.4)
Net Carrying Amount, intangible assets subject to amortization	96.4		102.9
Trade name
Intangible assets
Gross Carrying Amount, intangible assets subject to amortization	14.8		15.2
Accumulated Amortization, intangible assets subject to amortization	(4.7)		(4.4)
Net Carrying Amount, intangible assets subject to amortization	10.1		10.8
Other
Intangible assets
Gross Carrying Amount, intangible assets subject to amortization	0.3		0.3
Accumulated Amortization, intangible assets subject to amortization	(0.1)		(0.1)
Net Carrying Amount, intangible assets subject to amortization	$ 0.2		$ 0.2

Debt - Components (Details)

Debt - Components (Details) - USD ($) $ in Millions	Mar. 31, 2021	Dec. 31, 2020
Debt
Unamortized debt issuance costs	$ (2.3)	$ (2.4)
Total debt	824.2	844.5
Current portion of long-term debt	(108.4)	(2.2)
Total long-term debt, less current portion	715.8	842.3
2012 Note Purchase Agreement
Debt
Debt, before unamortized debt issuance costs	205	205
2019 Note Purchase Agreement
Debt
Debt, before unamortized debt issuance costs	314.8	335.5
2019 Term Loan
Debt
Debt, before unamortized debt issuance costs	300	300
Capital lease obligations and other loans
Debt
Total debt	$ 6.7	$ 6.4

Debt - Revolving Loan Arrangeme

Debt - Revolving Loan Arrangements (Details) $ in Millions	Mar. 31, 2021USD ($)
Revolving lines of credit
Total Amount Committed by Lenders	$ 720.2
Outstanding Letters of Credit	120.4
Total Committed Amount Available	$ 599.8
2019 Credit Agreement | US Dollar revolving loan
Revolving lines of credit
Weighted Average Interest Rate (as a percent)	1.30%
Total Amount Committed by Lenders	$ 600
Outstanding Letters of Credit	0.2
Total Committed Amount Available	$ 599.8
Bank guarantees and working capital line
Revolving lines of credit
Weighted Average Interest Rate (as a percent)	0.00%
Total Amount Committed by Lenders	$ 120.2
Outstanding Letters of Credit	$ 120.2

Debt - Currency Swaps (Details)

Debt - Currency Swaps (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Debt
Reduction of interest expense by cross-currency and interest swap agreements	$ 1.4	$ 2.6
Other Comprehensive Income (Loss), Foreign Currency Translation Adjustment, Tax	27.7	$ 10.9
US to Swiss Franc
Debt
Notional Amount	150
US to Euro
Debt
Notional Amount	$ 355

Fair Value of Financial Instr_3

Fair Value of Financial Instruments - Hierarchy (Details) - USD ($) $ in Millions	Mar. 31, 2021	Dec. 31, 2020
Significant Other Observable Inputs (Level 2)
Liabilities:
Fair value of long-term fixed interest rate debt	$ 527.7	$ 549.8
Recurring basis
Assets:
Time deposits and money market funds	151.1	183.2
Short-term investments	50	50
Interest rate and cross currency swap agreements	7.1	7.6
Forward currency contracts	0.1	2.1
Embedded derivatives in purchase and delivery contracts		0.1
Fixed price commodity contracts	3.8	3.1
Debt securities available for sale	1.2	1.2
Total assets recorded at fair value	213.3	247.3
Liabilities:
Contingent consideration	3.3	4.3
Hybrid instrument liability	13.8	13.9
Interest rate and cross currency swap agreements	33.3	61.5
Embedded derivatives in purchase and delivery contracts	0.3
Forward currency contracts	1.3	0.4
Total liabilities recorded at fair value	52	80.1
Recurring basis | Significant Other Observable Inputs (Level 2)
Assets:
Time deposits and money market funds	151.1	183.2
Short-term investments	50	50
Interest rate and cross currency swap agreements	7.1	7.6
Forward currency contracts	0.1	2.1
Embedded derivatives in purchase and delivery contracts		0.1
Fixed price commodity contracts	3.8	3.1
Total assets recorded at fair value	212.1	246.1
Liabilities:
Interest rate and cross currency swap agreements	33.3	61.5
Embedded derivatives in purchase and delivery contracts	0.3
Forward currency contracts	1.3	0.4
Total liabilities recorded at fair value	34.9	61.9
Recurring basis | Significant Unobservable Inputs (Level 3)
Assets:
Debt securities available for sale	1.2	1.2
Total assets recorded at fair value	1.2	1.2
Liabilities:
Contingent consideration	3.3	4.3
Hybrid instrument liability	13.8	13.9
Total liabilities recorded at fair value	$ 17.1	$ 18.2

Fair Value of Financial Instr_4

Fair Value of Financial Instruments - Contingent Consideration and Hybrid Instrument Liability (Details) $ in Millions	3 Months Ended
	Mar. 31, 2021USD ($)
Mestrelab
Fair value of financial instruments
Remaining ownership percentage under options that can be exercised after 2022	49.00%
Contingent consideration
Changes in contingent consideration liabilities
Balance at December 31, 2020	$ 4.3
Current period adjustments	(0.5)
Current period settlements	(0.4)
Foreign currency effect	(0.1)
Balance at March 31, 2021	3.3
Hybrid instrument
Changes in contingent consideration liabilities
Balance at December 31, 2020	13.9
Current period adjustments	0.4
Foreign currency effect	(0.5)
Balance at March 31, 2021	$ 13.8

Derivative Instruments and He_3

Derivative Instruments and Hedging Activities - Risk Management (Details) - USD ($) $ in Millions	Mar. 31, 2021	Dec. 31, 2020
Derivative instruments and hedging activities
Fair value, net asset (liability)	$ (23.9)	$ (49)
Embedded derivatives in purchase and delivery contracts
Embedded derivatives in purchase and delivery contracts
Notional amount of derivative sale contracts	6.1	7.5
Notional amount of derivative purchase contracts	4.3	4.8
Forward currency and swap agreements
Derivative instruments and hedging activities
Notional Amount	636.3	783.3
Fair value, net asset (liability)	(27.4)	(52.2)
Forward currency contract
Derivative instruments and hedging activities
Notional amount, assets	10	175.8
Notional amount, liabilities	121.3	102.5
Not designated as accounting hedges
Assets	0.1	2.1
Liabilities	(1.3)	(0.4)
Fixed price commodity contracts
Derivative instruments and hedging activities
Notional Amount	5.8	8.8
Interest rate cross-currency swap agreements
Derivative instruments and hedging activities
Notional amount, liabilities	505	505
Designated as accounting hedges
Liabilities	$ (26.2)	$ (53.9)

Derivative Instruments and He_4

Derivative Instruments and Hedging Activities - Balance Sheet (Details) - USD ($) $ in Millions	Mar. 31, 2021	Dec. 31, 2020
Derivative instruments and hedging activities
Derivative Assets (Liabilities)	$ (23.9)	$ (49)
Forward currency and swap agreements
Derivative instruments and hedging activities
Derivative Assets (Liabilities)	(27.4)	(52.2)
Embedded derivatives in purchase and delivery contracts | Other current liabilities
Derivative instruments and hedging activities
Derivative Liability	(0.3)
Designated as hedging instrument
Derivative instruments and hedging activities
Derivative Assets (Liabilities)	(26.2)	(53.9)
Designated as hedging instrument | Other current assets
Derivative instruments and hedging activities
Derivative Asset	7.1	7.6
Designated as hedging instrument | Other current liabilities
Derivative instruments and hedging activities
Derivative Liability	(9.3)	(4.3)
Designated as hedging instrument | Other long-term liabilities
Derivative instruments and hedging activities
Derivative Liability	(24)	(57.2)
Not designated as hedging instruments
Derivative instruments and hedging activities
Derivative Assets (Liabilities)	2.3	4.9
Not designated as hedging instruments | Forward currency contract | Other current assets
Derivative instruments and hedging activities
Derivative Asset	0.1	2.1
Not designated as hedging instruments | Forward currency contract | Other current liabilities
Derivative instruments and hedging activities
Derivative Liability	(1.3)	(0.4)
Not designated as hedging instruments | Embedded derivatives in purchase and delivery contracts | Other current assets
Derivative instruments and hedging activities
Derivative Asset		0.1
Not designated as hedging instruments | Fixed price commodity contracts | Other current assets
Derivative instruments and hedging activities
Derivative Asset	$ 3.8	$ 3.1

Derivative Instruments and He_5

Derivative Instruments and Hedging Activities - Income Statement (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Not designated as hedging instruments
Derivative instruments and hedging activities
Impact on net income of unrealized gains and losses	$ (5.4)	$ 0.1
Not designated as hedging instruments | Interest and other income (expense), net | Forward currency contract
Derivative instruments and hedging activities
Impact on net income of unrealized gains and losses	(5)	(0.5)
Not designated as hedging instruments | Interest and other income (expense), net | Embedded derivatives in purchase and delivery contracts
Derivative instruments and hedging activities
Impact on net income of unrealized gains and losses	(0.4)	0.6
Designated as hedging instrument | Cash Flow Hedging
Derivative instruments and hedging activities
Impact on net income of unrealized gains and losses	8.8	(19)
Designated as hedging instrument | Cash Flow Hedging | Accumulated other comprehensive income | Interest rate and cross currency swap agreements
Derivative instruments and hedging activities
Impact on net income of unrealized gains and losses	9.9	(19)
Designated as hedging instrument | Cash Flow Hedging | Interest and other income (expense), net | Interest rate and cross currency swap agreements
Derivative instruments and hedging activities
Impact on net income of unrealized gains and losses	(1.1)
Designated as hedging instrument | Net Investment Hedging
Derivative instruments and hedging activities
Impact on net income of unrealized gains and losses	20.3	32.5
Designated as hedging instrument | Net Investment Hedging | Accumulated other comprehensive income | Interest rate and cross currency swap agreements
Derivative instruments and hedging activities
Impact on net income of unrealized gains and losses	17.8	29.9
Designated as hedging instrument | Net Investment Hedging | Interest and other income (expense), net | Interest rate and cross currency swap agreements
Derivative instruments and hedging activities
Impact on net income of unrealized gains and losses	$ 2.5	$ 2.6

Provision for Income Taxes (Det

Provision for Income Taxes (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Dec. 31, 2020
Provision for Income Taxes
Income tax expense (benefit)	$ 27.5	$ 2.9
Effective tax rates (as a percent)	32.20%	21.50%
Unrecognized tax benefits, excluding penalties and interest	$ 24.3		$ 22.7
Accrued interest and penalties related to uncertain tax positions	$ 1.9		$ 1.8
Statutory tax rate (as a percent)	21.00%
Change in tax rate - foreign jurisdictions (as a percent)	5.10%
Germany
Provision for Income Taxes
Statutory tax rate (as a percent)	30.00%
Switzerland
Provision for Income Taxes
Statutory tax rate (as a percent)	20.00%

Earnings Per Share - Computatio

Earnings Per Share - Computation (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Earnings Per Share
Net income attributable to Bruker Corporation, as reported	$ 56.7	$ 10.5
Weighted average shares outstanding:
Weighted average shares outstanding-basic	151.8	154.2
Effect of dilutive securities:
Stock options and restricted stock awards and units (in shares)	1.4	1.2
Weighted-average number of common shares used in computing diluted net income per common share	153.2	155.4
Net income per common share attributable to Bruker Corporation shareholders:
Basic (in dollars per share)	$ 0.37	$ 0.07
Diluted (in dollars per share)	$ 0.37	$ 0.07

Earnings Per Share - Anti-dilut

Earnings Per Share - Anti-dilutive Stock Options (Details) shares in Millions	3 Months Ended
	Mar. 31, 2020shares
Stock options
Anti-dilutive securities
Number of shares excluded from the computation of diluted earnings per share	0.1

Shareholders' Equity - Share Re

Shareholders' Equity - Share Repurchase and Dividends (Details) - May 2019 Repurchase Program - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2021	May 03, 2021	May 31, 2019
Shareholders' Equity
Amount approved for repurchase of common stock			$ 300
Common stock repurchased during the period (in shares)	530,729
Aggregate cost of common stock repurchased during the period	$ 32.8
Subsequent Event [member]
Shareholders' Equity
Remaining authorization amount for repurchase of common stock		$ 1.7

Shareholders' Equity - Comprehe

Shareholders' Equity - Comprehensive Income (Loss) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Summary of comprehensive income (loss)
Consolidated net income	$ 57.8	$ 10.6
Foreign currency translation adjustments	(19.5)	(13)
Pension liability adjustments, net of tax	3.3	14.5
Net comprehensive income	41.6	12.1
Less: Comprehensive income (loss) attributable to noncontrolling interests	0.9	(0.1)
Less: Comprehensive income (loss) attributable to redeemable noncontrolling interest		(0.5)
Comprehensive income attributable to Bruker Corporation	$ 40.7	$ 12.7

Shareholders' Equity - Accumula

Shareholders' Equity - Accumulated Other Comprehensive Income (Loss) (Details) $ in Millions	3 Months Ended
	Mar. 31, 2021USD ($)
Summary of the components of accumulated other comprehensive income, net of tax
Balance at beginning of period	$ 974.3
Balance at end of period	981.7
Accumulated Other Comprehensive Income (Loss)
Summary of the components of accumulated other comprehensive income, net of tax
Balance at beginning of period	3.7
Other comprehensive income (loss) before reclassifications	(16.5)
Realized loss on amounts reclassified from other comprehensive income (loss), net of tax	0.7
Net current period other comprehensive income (loss)	(15.8)
Balance at end of period	(12.1)
Foreign Currency Translation
Summary of the components of accumulated other comprehensive income, net of tax
Balance at beginning of period	49.4
Other comprehensive income (loss) before reclassifications	(19.1)
Net current period other comprehensive income (loss)	(19.1)
Balance at end of period	30.3
Pension Liability Adjustment
Summary of the components of accumulated other comprehensive income, net of tax
Balance at beginning of period	(45.7)
Other comprehensive income (loss) before reclassifications	2.6
Realized loss on amounts reclassified from other comprehensive income (loss), net of tax	0.7
Net current period other comprehensive income (loss)	3.3
Balance at end of period	$ (42.4)

Shareholders' Equity - Expense

Shareholders' Equity - Expense (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation	$ 3.4	$ 3
Additional information
Expected pre-tax stock-based compensation expense	$ 23.4
Weighted average remaining service period	2 years 3 months 18 days
Cost of revenues
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation	$ 0.5	0.5
Selling, general and administrative
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation	2.4	2
Research and development
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation	0.5	0.5
Mestrelab
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation	$ 0.4	$ 0.3

Other Charges, Net - Components

Other Charges, Net - Components of other charges (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Other Charges (Gain), Net
Information technology transformation costs	$ 0.7	$ 0.9
Professional fees incurred in connection with investigation matters	0.1	3.4
Restructuring charges	1.3	1.5
Acquisition-related charges	0.9	(1.1)
Long-lived asset impairments		1.2
Other		0.3
Other charges, net	$ 3	$ 6.2

Other Charges, Net - Restructur

Other Charges, Net - Restructuring Plans (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Restructuring charges
Restructuring expenses	$ 2.4	$ 2.3
Cost of revenues
Restructuring charges
Restructuring expenses	1.1	0.8
Other charges, net
Restructuring charges
Restructuring expenses	$ 1.3	$ 1.5

Other Charges, Net - Restruct_2

Other Charges, Net - Restructuring Reserves (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Changes in the restructuring reserves
Balance at the beginning of the period	$ 9.8
Restructuring charges	2.4	$ 2.3
Cash payments	(5.2)
Other, non-cash adjustments and foreign currency effect	(0.1)
Balance at the end of the period	6.9
Severance
Changes in the restructuring reserves
Balance at the beginning of the period	7.6
Restructuring charges	2.2
Cash payments	(4.7)
Balance at the end of the period	5.1
Exit Costs
Changes in the restructuring reserves
Balance at the beginning of the period	0.8
Restructuring charges	0.2
Cash payments	(0.5)
Balance at the end of the period	0.5
Provisions for Excess Inventory
Changes in the restructuring reserves
Balance at the beginning of the period	1.4
Other, non-cash adjustments and foreign currency effect	(0.1)
Balance at the end of the period	$ 1.3

Commitments and Contingencies (

Commitments and Contingencies (Details) $ in Millions	Mar. 05, 2021USD ($)
Letters of Credit and Guarantees
Upfront payment	$ 4

Business Segment Information (D

Business Segment Information (Details) $ in Millions	3 Months Ended
	Mar. 31, 2021USD ($)segment	Mar. 31, 2020USD ($)	Dec. 31, 2020USD ($)
Business segment information
Number of reportable segments | segment	3
Total revenue	$ 554.7	$ 424
Operating Income (loss)	89.1	16.4
Assets	3,034.9		$ 3,049
Eliminations
Business segment information
Total revenue	(3.9)	(3.7)
Corporate, eliminations and other
Business segment information
Operating Income (loss)	(16.2)	(16.8)
Assets	(5.2)		(4.2)
BSI Life Science | Operating segments
Business segment information
Total revenue	351.8	261.4
Operating Income (loss)	88.9	39.5
Assets	2,947.8		2,964.5
BSI NANO | Operating segments
Business segment information
Total revenue	154.4	120.1
Operating Income (loss)	12.3	(8)
BEST
Business segment information
Total revenue	52.4	46.2
BEST | Operating segments
Business segment information
Total revenue	52.4	46.2
Operating Income (loss)	4.1	$ 1.7
Assets	$ 92.3		$ 88.7