Teledyne FLIR (FLIR) 10-Q 6 May 16 2016 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2016	Apr. 29, 2016
Document and Entity [Abstract]
Entity Registrant Name	FLIR SYSTEMS INC
Entity Central Index Key	354,908
Trading Symbol	FLIR
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Document Type	10-Q
Document Period End Date	Mar. 31, 2016
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q1
Amendment Flag	false
Entity Common Stock, Shares Outstanding		137,631,896

CONSOLIDATED STATEMENTS OF INCO

CONSOLIDATED STATEMENTS OF INCOME - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Income Statement [Abstract]
Revenue	$ 379,472	$ 344,517
Cost of goods sold	201,782	168,620
Gross profit	177,690	175,897
Operating expenses:
Research and development	36,411	34,774
Selling, general and administrative	83,902	75,369
Total operating expenses	120,313	110,143
Earnings from operations	57,377	65,754
Interest expense	3,447	3,661
Interest income	(260)	(247)
Other income, net	(1,430)	(700)
Earnings before income taxes	55,620	63,040
Income tax provision	54,495	15,130
Net earnings	$ 1,125	$ 47,910
Earnings per share:
Basic	$ 0.01	$ 0.34
Diluted	$ 0.01	$ 0.34
Weighted average shares outstanding:
Basic	137,496	139,768
Diluted	138,779	141,472

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Statement of Comprehensive Income [Abstract]
Net earnings	$ 1,125	$ 47,910
Other comprehensive income (loss), net of tax:
Cash flow hedges	(669)	(604)
Foreign currency translation adjustments	23,361	(65,964)
Total other comprehensive income (loss)	22,692	(66,568)
Comprehensive income (loss)	$ 23,817	$ (18,658)

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Current assets:
Cash and cash equivalents	$ 510,613	$ 472,785
Accounts receivable, net	298,530	326,098
Inventories	398,870	393,092
Prepaid expenses and other current assets	82,217	95,539
Total current assets	1,290,230	1,287,514
Property and equipment, net	275,148	272,629
Deferred income taxes, net	55,877	55,429
Goodwill	601,247	596,316
Intangible assets, net	138,639	141,302
Other assets	52,068	53,210
Total assets	2,413,209	2,406,400
Current liabilities:
Accounts payable	106,394	139,540
Deferred revenue	33,360	31,933
Accrued payroll and related liabilities	52,212	54,806
Accrued product warranties	14,676	13,406
Advance payments from customers	19,270	33,848
Accrued expenses	35,163	40,930
Accrued income taxes	3,227	201
Other current liabilities	6,038	5,987
Current portion, long term debt	264,809	264,694
Total current liabilities	535,149	585,345
Long-term debt	90,000	93,750
Deferred income taxes	3,787	3,623
Accrued income taxes	53,629	10,457
Other long-term liabilities	$ 62,615	$ 63,710
Commitments and contingencies
Shareholders’ equity:
Preferred stock, $0.01 par value, 10,000 shares authorized; no shares issued at March 31, 2016, and December 31 2015	$ 0	$ 0
Common stock, $0.01 par value, 500,000 shares authorized, 137,629 and 137,350 shares issued at March 31, 2016, and December 31 2015, respectively, and additional paid-in capital	12,577	1,374
Retained earnings	1,757,885	1,773,267
Accumulated other comprehensive loss	(102,433)	(125,126)
Total shareholders’ equity	1,668,029	1,649,515
Total liabilities and shareholders' equity	$ 2,413,209	$ 2,406,400

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares shares in Thousands	Mar. 31, 2016	Dec. 31, 2015
Statement of Financial Position [Abstract]
Preferred Stock, Par Value	$ 0.01	$ 0.01
Preferred Stock, Shares Authorized	10,000	10,000
Preferred Stock, Shares Issued	0	0
Common Stock, Par Value	$ 0.01	$ 0.01
Common Stock, Shares Authorized	500,000	500,000

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
CASH PROVIDED BY OPERATING ACTIVITIES:
Net earnings	$ 1,125	$ 47,910
Income items not affecting cash:
Depreciation and amortization	13,939	12,489
Deferred income taxes	(227)	96
Stock-based compensation arrangements	6,088	4,757
Other non-cash items	5,807	(3,303)
Changes in operating assets and liabilities:
Decrease in accounts receivable, net	28,845	35,621
Increase in inventories	(2,090)	(27,000)
(Increase) decrease in prepaid expenses and other current assets	(3,675)	4,966
(Increase) decrease in other assets	(4,542)	364
(Decrease) increase in accounts payable	(33,669)	9,808
Increase in deferred revenue	1,354	11
Decrease in accrued payroll and other liabilities	(22,905)	(14,538)
Increase in accrued income taxes	56,147	1,802
(Decrease) increase in pension and other long-term liabilities	(1,320)	1,944
Cash provided by operating activities	44,877	74,927
CASH USED BY INVESTING ACTIVITIES:
Additions to property and equipment, net	(9,992)	(13,169)
Proceeds on sale of property and equipment	4,875	30
Cash used by investing activities	(5,117)	(13,139)
CASH USED BY FINANCING ACTIVITIES:
Repayments of long-term debt, net	(3,750)	(3,750)
Dividends paid	(16,507)	(15,377)
Proceeds from shares issued pursuant to stock-based compensation plans	3,989	4,414
Excess tax benefit of stock options exercised	1,041	779
Other financing activities	3	(7)
Cash used by financing activities	(15,224)	(13,941)
Effect of exchange rate changes on cash	13,292	(31,441)
Net increase in cash and cash equivalents	37,828	16,406
Cash and cash equivalents, beginning of period	472,785	531,374
Cash and cash equivalents, end of period	$ 510,613	$ 547,780

Basis of Presenation

Basis of Presenation	3 Months Ended
	Mar. 31, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Basis of Presentation The accompanying consolidated financial statements of FLIR Systems, Inc. and its consolidated subsidiaries (the “Company”) are unaudited and have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission. In the opinion of management, these statements have been prepared on the same basis as the audited consolidated financial statements and include all adjustments, consisting of only normal recurring adjustments, necessary for a fair presentation of the Company’s consolidated financial position and results of operations for the interim periods. Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States have been condensed or omitted pursuant to such rules and regulations. These consolidated financial statements should be read in conjunction with the Company’s audited consolidated financial statements and the notes thereto included in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2015 . The accompanying consolidated financial statements include the accounts of FLIR Systems, Inc. and its wholly owned subsidiaries. All significant intercompany accounts and transactions have been eliminated. The results of operations for the interim periods presented are not necessarily indicative of the operating results to be expected for any subsequent interim period or for the year ending December 31, 2016 . Reclassifications The Company made certain reclassifications to the prior year's financial statements to conform them to the presentation as of March 31, 2016. Restructuring expenses of $0.1 million and $0.2 million have been reclassified to research and development expense and selling, general and administrative expenses, respectively, for the three months ended March 31, 2015. These reclassifications had no effect on consolidated financial position, shareholders' equity or net cash flows for any of the periods presented.

Stock-based Compensation

Stock-based Compensation	3 Months Ended
	Mar. 31, 2016
Share-based Compensation [Abstract]
Stock-based Compensation	Stock-based Compensation Stock Incentive Plans The Company has a stock-based compensation program that provides equity incentives for employees, consultants and directors. This program includes incentive and non-statutory stock options and nonvested stock awards (referred to as restricted stock unit awards) administered by the Compensation Committee of the Company's Board of Directors. Under the stock-based compensation program, the Company has granted time-based options, time-based restricted stock unit awards, and market-based restricted stock unit awards. Options generally expire ten years from their grant dates. Time-based options and restricted stock unit awards generally vest over a three year period. Shares issuable under market-based restricted stock unit awards are earned based upon the Company's total shareholder return compared to the total shareholder return over a three year period of the component company at the 60th percentile level in the Standard & Poor's 500 Index. Shares vested under the market-based restricted stock unit awards must be held by the participant for a period of one year from the vest date. Employee Stock Purchase Plan The Company has an Employee Stock Purchase Plan (the “ESPP”) which allows employees to purchase shares of the Company’s common stock at 85 percent of the lower of the fair market value at the date of enrollment or the fair market value at the purchase date. The ESPP provides for six-month offerings commencing on May 1 and November 1 of each year with purchases on April 30 and October 31 of each year. Shares purchased under the ESPP must be held by the purchasing plan participant for a period of at least 18 months after the date of purchase. Note 2. Stock-based Compensation - (Continued) Stock-based Compensation Expense Stock-based compensation expense recognized in the Consolidated Statements of Income are as follows (in thousands): Three Months Ended March 31, 2016 2015 Cost of goods sold $ 615 $ 718 Research and development 1,181 1,140 Selling, general and administrative 4,292 2,899 Stock-based compensation expense $ 6,088 $ 4,757 Stock-based compensation costs capitalized in inventory are as follows (in thousands): March 31, 2016 2015 Capitalized in inventory $ 790 $ 728 As of March 31, 2016 , the Company had $31.8 million of total unrecognized stock-based compensation costs, net of estimated forfeitures, to be recognized over a weighted average period of 1.8 years.

Net Earnings Per Share

Net Earnings Per Share	3 Months Ended
	Mar. 31, 2016
Earnings Per Share [Abstract]
Net Earnings Per Share	Net Earnings Per Share The following table sets forth the reconciliation of the numerator and denominator utilized in the computation of basic and diluted earnings per share (in thousands): Three Months Ended March 31, 2016 2015 Numerator for earnings per share: Net earnings for basic and diluted earnings per share $ 1,125 $ 47,910 Denominator for earnings per share: Weighted average number of common shares outstanding 137,496 139,768 Assumed exercises of stock options and vesting of restricted stock awards, net of shares assumed reacquired under the treasury stock method 1,283 1,704 Weighted average diluted shares outstanding 138,779 141,472 The effect of outstanding stock-based compensation awards for the three months ended March 31, 2016 , which in the aggregate consisted of 271,000 shares, and for the three months ended March 31, 2015 , which in the aggregate consisted of 248,000 shares, respectively, have been excluded for purposes of calculating diluted earnings per share since their inclusion would have had an anti-dilutive effect.

Fair Value of Financial Instrum

Fair Value of Financial Instruments	3 Months Ended
	Mar. 31, 2016
Fair Value Disclosures [Abstract]
Fair Value of Financial Instruments	Fair Value of Financial Instruments Factors used in determining the fair value of our financial assets and liabilities are summarized into three broad categories in accordance with FASB ASC Topic 820, “Fair Value Measurement”: Level 1 – quoted prices in active markets for identical securities as of the reporting date; Level 2 – other significant directly or indirectly observable inputs, including quoted prices for similar securities, interest rates, prepayment speeds and credit risk; and Level 3 – significant inputs that are generally less observable than objective sources, including our own assumptions in determining fair value. The factors and methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities. The Company had $28.7 million and $29.0 million of cash equivalents at March 31, 2016 and December 31, 2015 , respectively, which were primarily investments in money market funds. The Company has categorized its cash equivalents as a Level 1 financial asset, measured at fair value based on quoted prices in active markets of identical assets. The fair values of the Company’s foreign currency forward contracts and interest rate swap contracts as of March 31, 2016 and December 31, 2015 are disclosed in Note 5, "Derivative Financial Instruments," of the Notes to the Consolidated Financial Statements below and are based on Level 2 inputs. The fair value of the Company’s senior unsecured notes as described in Note 13, "Long-Term Debt," of the Notes to the Consolidated Financial Statements is approximately $252.8 million based upon Level 2 inputs at March 31, 2016 . The fair value of the Company's term loan, also described in Note 13, approximates the carrying value due to the variable market rate used to calculate interest payments. The Company does not have any other significant financial assets or liabilities that are measured at fair value.

Derivative Financial Instrument

Derivative Financial Instruments	3 Months Ended
	Mar. 31, 2016
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Instruments and Hedging Activities Disclosure [Text Block]	Derivative Financial Instruments Foreign Currency Exchange Rate Contracts In general, the gains and losses related to the Company's foreign currency exchange rate contracts recorded in other income, net are offset by the reciprocal gains and losses from the underlying assets or liabilities which originally gave rise to the exposure. The net gains for the three months ended March 31, 2016 were $7.0 million . The net losses for the three months ended March 31, 2015 were $4.0 million . The following table provides volume information about the Company's foreign currency exchange rate contracts. The table below presents the net notional amounts of the Company's outstanding foreign currency forward contracts in United States dollar equivalent amounts (in thousands): March 31, December 31, Swedish kronor $ 75,098 $ 59,198 Canadian dollar 14,226 10,799 British pound sterling 13,640 10,203 Euro 12,448 281 Brazilian real 5,898 6,440 Japanese yen 4,586 2,124 Australian dollar 2,152 2,342 Other 440 526 $ 128,488 $ 91,913 At March 31, 2016 , the Company’s foreign currency forward contracts, in general, had maturities of three months or less. Note 5. Derivative Financial Instruments - (Continued) Foreign Currency Exchange Rate Contracts - (Continued) The carrying amount of the foreign currency forward contracts included in the Consolidated Balance Sheets are as follows (in thousands): March 31, 2016 December 31, 2015 Other current assets Other current liabilities Other current assets Other current liabilities Foreign currency forward contracts $ 5,167 $ 1,118 $ 767 $ 1,314 Interest Rate Swap Contracts At March 31, 2016 , the effective interest rate on the Company's term loan was 2.49 percent . As of March 31, 2016 , the following interest rate swaps were outstanding: Contract Date Notional Amount (in millions) Fixed Rate Effective Date Maturity Date March 15, 2013 $ 52.5 1.02 % April 5, 2013 March 31, 2019 March 29, 2013 $ 52.5 0.97 % April 5, 2013 March 31, 2019 The net fair value carrying amount of the Company's interest rate swaps was a liability of $0.6 million of $0.4 million has been recorded in other current liabilities and $0.2 million has been recorded to other long-term liabilities in the Consolidated Balance Sheet as of March 31, 2016 .

Accounts Receivable

Accounts Receivable	3 Months Ended
	Mar. 31, 2016
Accounts, Notes, Loans and Financing Receivable, Gross, Allowance, and Net [Abstract]
Accounts Receivable	Accounts Receivable Accounts receivable are net of an allowance for doubtful accounts of $7.4 million at March 31, 2016 and $6.9 million at December 31, 2015 .

Inventories

Inventories	3 Months Ended
	Mar. 31, 2016
Inventory Disclosure [Abstract]
Inventories	Inventories Inventories consist of the following (in thousands): March 31, December 31, Raw material and subassemblies $ 214,864 $ 216,107 Work-in-progress 49,712 38,639 Finished goods 134,294 138,346 $ 398,870 $ 393,092

Property and Equipment

Property and Equipment	3 Months Ended
	Mar. 31, 2016
Property, Plant and Equipment [Abstract]
Property and Equipment	Property and Equipment Property and equipment are net of accumulated depreciation of $264.7 million and $253.4 million at March 31, 2016 and December 31, 2015 , respectively. Property and equipment, net, as of March 31, 2016 , includes land and a building valued at approximately $2.1 million that are held for sale.

Goodwill

Goodwill	3 Months Ended
	Mar. 31, 2016
Disclosure - Goodwill - Additional Information [Abstract]
Goodwill	Goodwill The carrying value of goodwill and the activity for the three months ended March 31, 2016 are as follows (in thousands): Balance, December 31, 2015 $ 596,316 Currency translation adjustments and other 4,931 Balance, March 31, 2016 $ 601,247 See Note 17, "Operating Segments and Related Information - Operating Segments, " of the Notes to the Consolidated Financial Statements for additional information on the carrying value of goodwill by operating segment at March 31, 2016 .

Intangible Assets

Intangible Assets	3 Months Ended
	Mar. 31, 2016
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Intangible Assets	Intangible Assets Intangible assets are net of accumulated amortization of $65.9 million and $61.3 million at March 31, 2016 and December 31, 2015 , respectively.

Credit Agreements

Credit Agreements	3 Months Ended
	Mar. 31, 2016
Line of Credit Facility [Abstract]
Credit Agreements	Credit Agreement At March 31, 2016 , the Company had no borrowings outstanding under its revolving credit facility pursuant to the Credit Agreement, dated February 8, 2011, with Bank of America, N.A., U.S. Bank National Association, JPMorgan Chase Bank N.A. and other lenders, as amended (the "Credit Agreement"), and had $25.9 million of letters of credit outstanding, which reduced the available credit under the revolving credit facility to $174.1 million .

Accrued Product Warranties

Accrued Product Warranties	3 Months Ended
	Mar. 31, 2016
Product Warranties Disclosures [Abstract]
Accrued Product Warranties	Accrued Product Warranties The following table summarizes the Company’s accrued product warranties and activity (in thousands): Three Months Ended March 31, 2016 2015 Accrued product warranties, beginning of period $ 16,514 $ 16,175 Amounts paid for warranty services (3,400 ) (2,809 ) Warranty provisions for products sold 3,995 2,774 Currency translation adjustments and other 118 (300 ) Accrued product warranties, end of period $ 17,227 $ 15,840 Current accrued product warranties, end of period $ 14,676 $ 13,199 Long-term accrued product warranties, end of period $ 2,551 $ 2,641

Long-Term Debt

Long-Term Debt	3 Months Ended
	Mar. 31, 2016
Debt Disclosure [Abstract]
Long-Term Debt	Long-Term Debt Long-term debt consists of the following (in thousands): March 31, December 31, Unsecured notes $ 250,000 $ 250,000 Term loan 105,000 108,750 Unamortized discounts and issuance costs of unsecured notes (191 ) (306 ) $ 354,809 $ 358,444 Current portion, long-term debt $ 264,809 $ 264,694 Long-term debt $ 90,000 $ 93,750 In August 2011, the Company issued $250 million aggregate principal amount of its 3.75 percent senior unsecured notes due September 1, 2016 (the “Notes”). The net proceeds from the issuance of the Notes were approximately $247.7 million , after deducting underwriting discounts and offering expenses, which are being amortized over a period of five years. Interest on the Notes is payable semiannually in arrears on March 1 and September 1 . The proceeds from the Notes have been used for general corporate purposes, which include working capital and capital expenditure needs, business acquisitions and repurchases of the Company’s common stock. The Credit Agreement discussed in Note 11, "Credit Agreement," of the Notes to the Consolidated Financial Statements above, incorporates a $150 million term loan facility that matures on April 5, 2019 . On April 5, 2013 the Company drew down $150 million under the term loan facility. Interest is accrued at the one-month LIBOR rate plus the scheduled spread and paid monthly . Quarterly principal payments of $3.75 million commenced on June 30, 2013 and will continue through December 31, 2018 with the final maturity payment including any accrued interest due on April 5, 2019 . See Note 5, "Derivative Financial Instruments - Interest Rate Swap Contracts ," of the Notes to the Consolidated Financial Statements for additional information on the effective interest rate on the term loan at March 31, 2016 .

Shareholders' Equity

Shareholders' Equity	3 Months Ended
	Mar. 31, 2016
Stockholders' Equity Note [Abstract]
Shareholders' Equity	Shareholders’ Equity The following table summarizes the common stock and additional paid-in capital activity during the three months ended March 31, 2016 (in thousands): Common stock and additional paid-in capital, December 31, 2015 $ 1,374 Income tax benefit of common stock options exercised 1,041 Common stock issued pursuant to stock-based compensation plans, net 3,975 Stock-based compensation arrangements 6,187 Common stock and additional paid-in capital, March 31, 2016 $ 12,577 On March 4, 2016 , the Company paid a dividend of $0.12 per share on its outstanding common stock to the shareholders of record as of the close of business on February 19, 2016 . The total cash payments for dividends during the three months ended March 31, 2016 were $16.5 million .

Contingencies

Contingencies	3 Months Ended
	Mar. 31, 2016
Loss Contingency [Abstract]
Contingencies	Contingencies FLIR Systems, Inc. and its subsidiary, Indigo Systems Corporation (now known as FLIR Commercial Systems, Inc.) (together, the “FLIR Parties”), were named in a lawsuit filed by Raytheon Company (“Raytheon”) on March 2, 2007 in the United States District Court for the Eastern District of Texas. Raytheon's complaint, as amended, asserted claims for tortious interference, patent infringement, trade secret misappropriation, unfair competition, breach of contract and fraudulent concealment. The FLIR Parties filed an answer to the complaint on September 2, 2008, in which they denied all material allegations. On October 27, 2010, the FLIR Parties and Raytheon entered into a settlement agreement that resolved the patent infringement claims (the "Patent Claims") pursuant to which the FLIR Parties paid $3 million to Raytheon and entitles the FLIR Parties to certain license rights in the patents that were the subject of the Patent Claims. On October 28, 2014, a four-week trial began with respect to Raytheon's remaining claims of misappropriations of trade secrets and claims related to 31 alleged trade secrets. On November 24, 2014, a jury in the United States District Court for the Eastern District of Texas rejected Raytheon’s claims and determined that 27 of the alleged trade secrets were not in fact trade secrets and that neither Indigo, prior to its acquisition by FLIR Systems, Inc., nor FLIR Systems, Inc. infringed any of the trade secrets claimed and awarded Raytheon no damages. On March 31, 2016 the United States District Court for the Eastern District of Texas issued a Final Judgment denying Raytheon’s claims and awarding FLIR court costs and denying each of Raytheon’s and FLIR’s Renewed Motions for Judgment as a Matter of Law and denying FLIR’s Amended Rule 54(d) Motion for Attorneys’ Fees and Costs Under the Texas Theft Liability Act. On April 29, 2016, Raytheon filed a Notice of Appeal to the United States Court of Appeals for the Federal Circuit of the denial by the United States District Court for the Eastern District of Texas of Raytheon’s Renewed Motion for Judgment as a Matter of Law, or in the Alternative, Motion for New Trial. The FLIR Parties expect to file a Notice of Appeal to the United States Court of Appeals for the Federal Circuit of the Order of the United States District Court for the Eastern District of Texas Denying the FLIR Parties’ Amended Rule 54(d) Motion for Attorneys’ Fees and Costs under the Texas Theft Liability Act, the Order Denying the FLIR Parties’ Renewed Motion For Judgment as a Matter Of Law, and the Final Judgment to the extent it denied the FLIR Parties Attorneys’ Fees and Costs under the Texas Theft Liability Act. The matter remains ongoing and is subject to appeal and the Company is unable to estimate the amount or range of potential loss or recovery, if any, which might result if the final determination of this matter is favorable or unfavorable, but an adverse ruling on the merits of the original claims against the FLIR Parties, while remote, could be material. On October 22, 2014, the Company initially contacted the United States Department of State Office of Defense Trade Controls Compliance (“DDTC”), pursuant to International Traffic in Arms Regulation (“ITAR”) § 127.12(c), regarding the unauthorized export of technical data and defense services to dual and third country nationals in at least four facilities of the Company. On April 27, 2015, the Company submitted its initial report to DDTC regarding the details of the issues raised in the October 22, 2014 submission. DDTC subsequently notified the Company that it was considering administrative proceedings under Part 128 of ITAR and requested a tolling agreement, which the Company executed on June 16, 2015. DDTC continues its review and the Company is unable to reasonably estimate the time it may take to resolve the matter or the amount or range of potential loss, penalty or other government action, if any, that may be incurred in connection with this matter. However, an unfavorable outcome could result in fines and penalties or loss or modification of exporting privileges that could potentially be material to the financial condition and results of operations of the Company in and following the period in which such an outcome becomes estimable or known. The Company is also subject to other legal and administrative proceedings, investigations, claims and litigation arising in the ordinary course of business not specifically identified above. In these identified matters and others not specifically identified, the Company makes a provision for a liability with respect to a matter when it is both probable that a liability has been incurred and the amount of loss can be reasonably estimated for such matter. The Company believes it has recorded adequate provisions for any probable and estimable losses for matters in existence on the date hereof. While the outcome of each of these matters is currently not determinable, the Company does not expect that the ultimate resolution of any such matter will individually have a material adverse effect on the Company’s financial position, results of operations or cash flows. The costs to resolve all such matters may in the aggregate have a material adverse effect on the Company’s financial position, results of operations or cash flows.

Income Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2016
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The provision for income taxes was as follows: Three Months Ended March 31, 2016 2015 Income tax provision $ 54,495 $ 15,130 Effective tax rate 98.0 % 24.0 % The effective tax rate for the three months ended March 31, 2016 is higher than the US Federal tax rate of 35 percent primarily due to discrete tax charges, partially offset by the mix of lower foreign jurisdiction tax rates and the effect of federal, foreign and state tax credits. During the first quarter of 2016, the Company recorded discrete tax expenses of $40.0 million primarily related to the European Commission’s decision regarding certain tax legislation in Belgium impacting one of the Company’s international subsidiaries. The Belgian Government announced that they have appealed this decision and filed an action for annulment with the General Court of the European Union. Companies directly affected by the decision may also appeal. The outcome of an appeal, new information received from the Belgian Government, or other future events may cause the income tax provision associated with the decision to be entirely or partially reversed. As of March 31, 2016 , the Company had approximately $53.8 million of unrecognized tax benefits, all of which would affect the Company’s effective tax rate if recognized. The Company anticipates an immaterial portion of its net unrecognized tax benefits will be recognized within 12 months as the result of settlements or effective settlements with various tax authorities, the closure of certain audits and the lapse of the applicable statute of limitations. The Company classifies interest and penalties related to uncertain tax positions as income tax expense. As of March 31, 2016 , the Company had approximately $1.9 million of net accrued interest and penalties related to uncertain tax positions. The Company currently has the following tax years open to examination by major taxing jurisdictions: Tax Years: US Federal 2012 – 2014 State of Oregon 2012 – 2014 State of Massachusetts 2011 – 2014 State of California 2012 – 2014 Sweden 2011 – 2014 United Kingdom 2011 – 2014 Belgium 2011 – 2014

Operating Segments and Related

Operating Segments and Related Information	3 Months Ended
	Mar. 31, 2016
Segment Reporting [Abstract]
Operating Segments and Related Information	Operating Segments and Related Information Operating Segments The operating segments of the Company are as follows: Surveillance The Surveillance segment develops and manufactures enhanced imaging and recognition solutions for a wide variety of military, law enforcement, public safety, and other government customers around the world for the protection of borders, troops, and public welfare. Offerings include airborne, land, maritime, and man-portable multi-spectrum imaging systems, radars, lasers, imaging components, integrated multi-sensor system platforms, hand-held and weapon-mounted thermal imaging systems for use by consumers and services related to these systems. Instruments The Instruments segment develops and manufactures devices that image, measure, and assess thermal energy, gases, and other environmental elements for industrial, commercial, and scientific applications. Products include thermal imaging cameras, gas detection cameras, firefighting cameras, process automation cameras, and environmental test and measurement devices. Security The Security segment develops and manufactures cameras and video recording systems for use in commercial, critical infrastructure, and home security applications. Products include thermal and visible-spectrum cameras, digital and networked video recorders, and related software and accessories that enable the efficient and effective safeguarding of assets at all hours of the day and through adverse weather conditions. OEM & Emerging Markets The OEM & Emerging Markets segment develops and manufactures thermal imaging camera cores and components that are utilized by third parties to create thermal and other types of imaging systems. The segment also develops and manufactures intelligent traffic monitoring and signal control systems, imaging solutions for the smartphone and mobile devices market, and provides thermal cameras and cores for use or integration into unmanned aerial systems. Maritime The Maritime segment develops and manufactures electronics and imaging instruments for the recreational and commercial maritime market. The segment provides a full suite of networked electronic systems including multi-function helm displays, navigational instruments, autopilots, radars, sonar systems, thermal and visible imaging systems, and communications equipment for boats of all sizes. Detection The Detection segment develops and manufactures sensor instruments and integrated platform solutions for the detection, identification, and suppression of chemical, biological, radiological, nuclear, and explosives ("CBRNE") threats for military force protection, homeland security, and commercial applications. Note 17. Operating Segments and Related Information - (Continued) Operating Segments - (Continued) Operating segment information is as follows (in thousands): Three Months Ended March 31, 2016 2015 Revenue – External Customers: Surveillance $ 124,151 $ 112,901 Instruments 79,418 83,821 Security 47,061 38,806 OEM & Emerging Markets 47,845 39,834 Maritime 51,720 50,972 Detection 29,277 18,183 $ 379,472 $ 344,517 Revenue – Intersegments: Surveillance $ 4,224 $ 3,682 Instruments 1,575 842 Security 2,473 3,976 OEM & Emerging Markets 8,176 8,686 Maritime 615 657 Detection — — Elimination (17,063 ) (17,843 ) $ — $ — Earnings (loss) from operations: Surveillance $ 35,240 $ 30,166 Instruments 19,496 28,063 Security (3,645 ) 3,816 OEM & Emerging Markets 10,032 8,779 Maritime 4,998 4,789 Detection 7,880 2,680 Other (16,624 ) (12,539 ) $ 57,377 $ 65,754 March 31, December 31, Segment assets (accounts receivable, net and inventories): Surveillance $ 257,612 $ 286,058 Instruments 109,601 130,135 Security 92,558 105,509 OEM & Emerging Markets 113,830 93,925 Maritime 87,414 73,506 Detection 36,385 30,057 $ 697,400 $ 719,190 Note 17. Operating Segments and Related Information - (Continued) Operating Segments - (Continued) March 31, December 31, Segment goodwill: Surveillance $ 120,549 $ 120,145 Instruments 151,974 149,582 Security 104,149 101,955 OEM & Emerging Markets 71,081 69,973 Maritime 105,413 106,549 Detection 48,081 48,112 $ 601,247 $ 596,316 Revenue and Long-Lived Assets by Geographic Area Information related to revenue by significant geographical location, determined by the end customer, is as follows (in thousands): Three Months Ended March 31, 2016 2015 United States 194,283 166,455 Canada/Latin America 29,242 16,427 Europe 84,410 93,255 Middle East/Africa 27,712 26,567 Asia 43,825 41,813 $ 379,472 $ 344,517 Long-lived assets by significant geographic locations are as follows (in thousands): March 31, December 31, United States $ 664,989 $ 666,759 Europe 388,126 383,501 Other international 13,987 13,197 $ 1,067,102 $ 1,063,457 Major Customers Revenue derived from major customers is as follows (in thousands): Three Months Ended March 31, 2016 2015 US Government $ 85,636 $ 53,320

Subsequent Events

Subsequent Events	3 Months Ended
	Mar. 31, 2016
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events On April 21, 2016 , the Company’s Board of Directors declared a quarterly dividend of $0.12 per share on its common stock, payable on June 3, 2016 , to shareholders of record as of the close of business on May 20, 2016 . The total cash payment of this dividend will be approximately $16.5 million .

Basis of Presenation Basis of P

Basis of Presenation Basis of Presentation (Policies)	3 Months Ended
	Mar. 31, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Principles of consolidation	The accompanying consolidated financial statements include the accounts of FLIR Systems, Inc. and its wholly owned subsidiaries. All significant intercompany accounts and transactions have been eliminated.

Stock-based Compensation (Table

Stock-based Compensation (Tables)	3 Months Ended
	Mar. 31, 2016
Share-based Compensation [Abstract]
Stock-based compensation expense recognized in the Consolidated Statements of Income and capitalized in the Consolidated Balance Sheets	Stock-based compensation expense recognized in the Consolidated Statements of Income are as follows (in thousands): Three Months Ended March 31, 2016 2015 Cost of goods sold $ 615 $ 718 Research and development 1,181 1,140 Selling, general and administrative 4,292 2,899 Stock-based compensation expense $ 6,088 $ 4,757 Stock-based compensation costs capitalized in inventory are as follows (in thousands): March 31, 2016 2015 Capitalized in inventory $ 790 $ 728

Net Earnings Per Share (Tables)

Net Earnings Per Share (Tables)	3 Months Ended
	Mar. 31, 2016
Earnings Per Share [Abstract]
Reconciliation of the numerator and denominator utilized in the computation of basic and diluted earnings per share	The following table sets forth the reconciliation of the numerator and denominator utilized in the computation of basic and diluted earnings per share (in thousands): Three Months Ended March 31, 2016 2015 Numerator for earnings per share: Net earnings for basic and diluted earnings per share $ 1,125 $ 47,910 Denominator for earnings per share: Weighted average number of common shares outstanding 137,496 139,768 Assumed exercises of stock options and vesting of restricted stock awards, net of shares assumed reacquired under the treasury stock method 1,283 1,704 Weighted average diluted shares outstanding 138,779 141,472

Derivative Financial Instrume28

Derivative Financial Instruments (Tables)	3 Months Ended
	Mar. 31, 2016
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Notional amounts of outstanding foreign currency forward contracts by currency	in United States dollar equivalent amounts (in thousands): March 31, December 31, Swedish kronor $ 75,098 $ 59,198 Canadian dollar 14,226 10,799 British pound sterling 13,640 10,203 Euro 12,448 281 Brazilian real 5,898 6,440 Japanese yen 4,586 2,124 Australian dollar 2,152 2,342 Other 440 526 $ 128,488 $ 91,913
Fair value carrying amount of derivative instruments included in consolidated balance sheets	The carrying amount of the foreign currency forward contracts included in the Consolidated Balance Sheets are as follows (in thousands): March 31, 2016 December 31, 2015 Other current assets Other current liabilities Other current assets Other current liabilities Foreign currency forward contracts $ 5,167 $ 1,118 $ 767 $ 1,314
Interest rate swaps outstanding	As of March 31, 2016 , the following interest rate swaps were outstanding: Contract Date Notional Amount (in millions) Fixed Rate Effective Date Maturity Date March 15, 2013 $ 52.5 1.02 % April 5, 2013 March 31, 2019 March 29, 2013 $ 52.5 0.97 % April 5, 2013 March 31, 2019

Inventories (Tables)

Inventories (Tables)	3 Months Ended
	Mar. 31, 2016
Inventory Disclosure [Abstract]
Inventories	Inventories consist of the following (in thousands): March 31, December 31, Raw material and subassemblies $ 214,864 $ 216,107 Work-in-progress 49,712 38,639 Finished goods 134,294 138,346 $ 398,870 $ 393,092

Goodwill (Tables)

Goodwill (Tables)	3 Months Ended
	Mar. 31, 2016
Disclosure - Goodwill - Additional Information [Abstract]
Carrying value of goodwill by reporting segment and the activity	The carrying value of goodwill and the activity for the three months ended March 31, 2016 are as follows (in thousands): Balance, December 31, 2015 $ 596,316 Currency translation adjustments and other 4,931 Balance, March 31, 2016 $ 601,247

Accrued Product Warrenties (Tab

Accrued Product Warrenties (Tables)	3 Months Ended
	Mar. 31, 2016
Product Warranties Disclosures [Abstract]
Summay of warranty liability and activity	The following table summarizes the Company’s accrued product warranties and activity (in thousands): Three Months Ended March 31, 2016 2015 Accrued product warranties, beginning of period $ 16,514 $ 16,175 Amounts paid for warranty services (3,400 ) (2,809 ) Warranty provisions for products sold 3,995 2,774 Currency translation adjustments and other 118 (300 ) Accrued product warranties, end of period $ 17,227 $ 15,840 Current accrued product warranties, end of period $ 14,676 $ 13,199 Long-term accrued product warranties, end of period $ 2,551 $ 2,641

Long-Term Debt (Tables)

Long-Term Debt (Tables)	3 Months Ended
	Mar. 31, 2016
Debt Disclosure [Abstract]
Long-Term Debt	Long-term debt consists of the following (in thousands): March 31, December 31, Unsecured notes $ 250,000 $ 250,000 Term loan 105,000 108,750 Unamortized discounts and issuance costs of unsecured notes (191 ) (306 ) $ 354,809 $ 358,444 Current portion, long-term debt $ 264,809 $ 264,694 Long-term debt $ 90,000 $ 93,750

Shareholders' Equity (Tables)

Shareholders' Equity (Tables)	3 Months Ended
	Mar. 31, 2016
Stockholders' Equity Note [Abstract]
Common stock and additional paid-in capital activity	The following table summarizes the common stock and additional paid-in capital activity during the three months ended March 31, 2016 (in thousands): Common stock and additional paid-in capital, December 31, 2015 $ 1,374 Income tax benefit of common stock options exercised 1,041 Common stock issued pursuant to stock-based compensation plans, net 3,975 Stock-based compensation arrangements 6,187 Common stock and additional paid-in capital, March 31, 2016 $ 12,577

Income Taxes (Tables)

Income Taxes (Tables)	3 Months Ended
	Mar. 31, 2016
Income Tax Disclosure [Abstract]
Tax years open to examination by major taxing jurisdictions	The Company currently has the following tax years open to examination by major taxing jurisdictions: Tax Years: US Federal 2012 – 2014 State of Oregon 2012 – 2014 State of Massachusetts 2011 – 2014 State of California 2012 – 2014 Sweden 2011 – 2014 United Kingdom 2011 – 2014 Belgium 2011 – 2014

Operating Segments and Relate35

Operating Segments and Related Information (Tables)	3 Months Ended
	Mar. 31, 2016
Segment Reporting [Abstract]
Operating Segment Information	Operating segment information is as follows (in thousands): Three Months Ended March 31, 2016 2015 Revenue – External Customers: Surveillance $ 124,151 $ 112,901 Instruments 79,418 83,821 Security 47,061 38,806 OEM & Emerging Markets 47,845 39,834 Maritime 51,720 50,972 Detection 29,277 18,183 $ 379,472 $ 344,517 Revenue – Intersegments: Surveillance $ 4,224 $ 3,682 Instruments 1,575 842 Security 2,473 3,976 OEM & Emerging Markets 8,176 8,686 Maritime 615 657 Detection — — Elimination (17,063 ) (17,843 ) $ — $ — Earnings (loss) from operations: Surveillance $ 35,240 $ 30,166 Instruments 19,496 28,063 Security (3,645 ) 3,816 OEM & Emerging Markets 10,032 8,779 Maritime 4,998 4,789 Detection 7,880 2,680 Other (16,624 ) (12,539 ) $ 57,377 $ 65,754
Segment Assets	March 31, December 31, Segment assets (accounts receivable, net and inventories): Surveillance $ 257,612 $ 286,058 Instruments 109,601 130,135 Security 92,558 105,509 OEM & Emerging Markets 113,830 93,925 Maritime 87,414 73,506 Detection 36,385 30,057 $ 697,400 $ 719,190 Note 17. Operating Segments and Related Information - (Continued) Operating Segments - (Continued) March 31, December 31, Segment goodwill: Surveillance $ 120,549 $ 120,145 Instruments 151,974 149,582 Security 104,149 101,955 OEM & Emerging Markets 71,081 69,973 Maritime 105,413 106,549 Detection 48,081 48,112 $ 601,247 $ 596,316
By Significant Geographical Area	Information related to revenue by significant geographical location, determined by the end customer, is as follows (in thousands): Three Months Ended March 31, 2016 2015 United States 194,283 166,455 Canada/Latin America 29,242 16,427 Europe 84,410 93,255 Middle East/Africa 27,712 26,567 Asia 43,825 41,813 $ 379,472 $ 344,517 Long-lived assets by significant geographic locations are as follows (in thousands): March 31, December 31, United States $ 664,989 $ 666,759 Europe 388,126 383,501 Other international 13,987 13,197 $ 1,067,102 $ 1,063,457
Revenue Derived from Major Customers	Revenue derived from major customers is as follows (in thousands): Three Months Ended March 31, 2016 2015 US Government $ 85,636 $ 53,320

Stock-based Compensation (Detai

Stock-based Compensation (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Stock-based compensation expense	$ 6,088	$ 4,757
Cost of goods sold
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Stock-based compensation expense	615	718
Research and development
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Stock-based compensation expense	1,181	1,140
Selling, general and administrative
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Stock-based compensation expense	$ 4,292	$ 2,899

Stock-based Compensation (Det37

Stock-based Compensation (Details 2) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Share-based Compensation, Allocation and Classification in Financial Statements [Abstract]
Capitalized in inventory	$ 790	$ 728

Stock-based Compensation (Det38

Stock-based Compensation (Details textual) $ in Millions	3 Months Ended
	Mar. 31, 2016USD ($)
Share-based Compensation [Abstract]
Unrecognized stock-based compensation costs, net of estimated forfeitures	$ 31.8
Weighted average period of unrecognized stock-based compensation costs, net of estimated forfeitures	1 year 9 months 18 days

Net Earnings Per Share (Details

Net Earnings Per Share (Details) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Numerator for earnings per share:
Net earnings for basic and diluted earnings per share	$ 1,125	$ 47,910
Denominator for earnings per share:
Weighted average number of common shares outstanding	137,496	139,768
Assumed exercises of stock options and vesting of restricted stock awards, net of shares assumed reacquired under the treasury stock method	1,283	1,704
Weighted average diluted shares outstanding	138,779	141,472

Net Earnings Per Share (Detai40

Net Earnings Per Share (Details textual) - shares	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Earnings Per Share [Abstract]
Effect of stock-based compensation awards, shares excluded for purposes of diluted earnings per share	271,000	248,000

Fair Value of Financial Instr41

Fair Value of Financial Instruments (Details) - USD ($) $ in Millions	Mar. 31, 2016	Dec. 31, 2015
Level 1
Schedule of Trading Securities and Other Trading Assets [Line Items]
Cash equivalents	$ 28.7	$ 29
Three Point Seven Five Percent Senior Unsecured Notes Due September First, Twenty Sixteen [Member] | Level 2
Schedule of Trading Securities and Other Trading Assets [Line Items]
Fair value of long-term debt	$ 252.8

Derivative Financial Instrume42

Derivative Financial Instruments (Details) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Derivative, Notional Amount	$ 128,488	$ 91,913
Swedish kronor
Derivative, Notional Amount	75,098	59,198
British pound sterling
Derivative, Notional Amount	14,226	10,799
Canada, Dollars
Derivative, Notional Amount	13,640	10,203
Brazil, Brazil Real
Derivative, Notional Amount	12,448	281
Japanese yen
Derivative, Notional Amount	5,898	6,440
Japan, Yen
Derivative, Notional Amount	4,586	2,124
Euro
Derivative, Notional Amount	2,152	2,342
Other
Derivative, Notional Amount	$ 440	$ 526

Derivative Financial Instrume43

Derivative Financial Instruments (Details 2) - Level 2 - Foreign currency forward contracts - Not Designated as Hedging Instrument - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Other current assets
Derivatives, Fair Value [Line Items]
Derivative Asset, Fair Value, Gross Asset	$ 5,167	$ 767
Other current liabilities
Derivatives, Fair Value [Line Items]
Derivative Liability, Fair Value, Gross Liability	$ 1,118	$ 1,314

Derivative Financial Instrume44

Derivative Financial Instruments (Details 3) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Dec. 31, 2015
Derivative [Line Items]
Derivative, Notional Amount	$ 128,488	$ 91,913
Interest Rate Swap [Member] | March 15, 2013 Interest rate swap [Member]
Derivative [Line Items]
Contract date	Mar. 15, 2013
Derivative, Notional Amount	$ 52,500
Fixed rate	1.02%
Effective date	Apr. 5, 2013
Maturity date	Mar. 31, 2019
Interest Rate Swap [Member] | March 29, 2013 Interest rate swap [Member]
Derivative [Line Items]
Contract date	Mar. 29, 2013
Derivative, Notional Amount	$ 52,500
Fixed rate	0.97%
Effective date	Apr. 5, 2013
Maturity date	Mar. 31, 2019

Derivative Financial Instrume45

Derivative Financial Instruments (Details textual) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Derivative [Line Items]
Net gain (loss)	$ 7	$ (4)
Maturities of foreign currency forward contracts	3 months
Level 2 | Interest Rate Swap [Member]
Derivative [Line Items]
Derivative Asset, Fair Value, Net	$ (0.6)
Level 2 | Interest Rate Swap [Member] | Other Current Liabilities [Member]
Derivative [Line Items]
Derivative Asset, Fair Value, Gross Liability	0.4
Level 2 | Interest Rate Swap [Member] | Other current liabilities
Derivative [Line Items]
Derivative Asset, Fair Value, Gross Liability	$ 0.2
Term loan facility [Member]
Derivative [Line Items]
Effective interest rate	2.49%

Accounts Receivable (Details)

Accounts Receivable (Details) - USD ($) $ in Millions	Mar. 31, 2016	Dec. 31, 2015
Accounts, Notes, Loans and Financing Receivable, Gross, Allowance, and Net [Abstract]
Allowance for doubtful accounts receivable	$ 7.4	$ 6.9

Inventories (Details)

Inventories (Details) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Inventory Disclosure [Abstract]
Raw material and subassemblies	$ 214,864	$ 216,107
Work-in-progress	49,712	38,639
Finished goods	134,294	138,346
Total inventories	$ 398,870	$ 393,092

Property and Equipment (Details

Property and Equipment (Details) - USD ($) $ in Millions	Mar. 31, 2016	Dec. 31, 2015
Property, Plant and Equipment [Abstract]
Accumulated depreciation	$ 264.7	$ 253.4
Assets Held-for-sale, Property, Plant and Equipment	$ 2.1

Goodwill (Details)

Goodwill (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2016USD ($)
Goodwill [Roll Forward]
Goodwill, beginning of period	$ 596,316
Currency translation adjustments and other	4,931
Goodwill, end of period	$ 601,247

Intangible Assets (Details)

Intangible Assets (Details) - USD ($) $ in Millions	Mar. 31, 2016	Dec. 31, 2015
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Accumulated amortization	$ 65.9	$ 61.3

Credit Agreements (Details)

Credit Agreements (Details) $ in Millions	Mar. 31, 2016USD ($)
Line of Credit Facility [Abstract]
Letters of credit outstanding	$ 25.9
Total available credit	$ 174.1

Accrued Product Warrenties (Det

Accrued Product Warrenties (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Dec. 31, 2015
Movement in Standard Product Warranty Accrual [Roll Forward]
Accrued product warranties, beginning of period	$ 16,514	$ 16,175
Amounts paid for warranty services	(3,400)	(2,809)
Warranty provisions for products sold	3,995	2,774
Currency translation adjustments and other	118	(300)
Accrued product warranties, end of period	17,227	15,840
Current accrued product warranties, end of period	14,676	13,199	$ 13,406
Long-term accrued product warranties, end of period	$ 2,551	$ 2,641

Long-Term Debt (Details)

Long-Term Debt (Details) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Debt Disclosure [Abstract]
Unsecured notes	$ 250,000	$ 250,000
Term loan	105,000	108,750
Unamortized discounts and issuance costs of unsecured notes	(191)	(306)
Long-term Debt	354,809	358,444
Current portion, long term debt	264,809	264,694
Long-term debt	$ 90,000	$ 93,750

Long Term Debt (Details textual

Long Term Debt (Details textual) - USD ($) $ in Thousands	Sep. 01, 2016	Apr. 30, 2019	Apr. 30, 2013	Aug. 31, 2011	Mar. 31, 2016	Apr. 05, 2013
Debt Instrument [Line Items]
Senior unsecured notes, term (in years)				5 years
Three Point Seven Five Percent Senior Unsecured Notes Due September First, Twenty Sixteen [Member]
Debt Instrument [Line Items]
Debt instrument, face amount				$ 250,000
Debt instrument, interest rate, stated percentage				3.75%
Debt instrument, maturity date	Sep. 1, 2016
Senior unsecured notes, proceeds				$ 247,700
Debt instrument, frequency of periodic payment				semiannually
Senior unsecured notes, interest payment dates				March 1 and September 1
Term loan facility [Member]
Debt Instrument [Line Items]
Debt instrument, face amount						$ 150,000
Debt instrument, maturity date		Apr. 5, 2019	Apr. 5, 2019
Debt instrument, frequency of periodic payment			monthly
Debt Instrument, Description of Variable Rate Basis			Interest is accrued at the one-month LIBOR rate plus the scheduled spread
Debt Instrument, Date of First Required Payment			Jun. 30, 2013
Long-term Debt [Member]
Debt Instrument [Line Items]
Debt Instrument, Periodic Payment, Principal					$ 3,750

Shareholders' Equity (Details)

Shareholders' Equity (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2016USD ($)
Stockholders' Equity Note [Abstract]
Common stock and additional paid-in capital, beginning of period	$ 1,374
Income tax benefit of common stock options exercised	1,041
Common stock issued pursuant to stock-based compensation plans, net	3,975
Stock-based compensation arrangements	6,187
Common stock and additional paid-in capital, end of period	$ 12,577

Shareholders' Equity (Details t

Shareholders' Equity (Details textual) - USD ($) $ / shares in Units, $ in Millions	Sep. 04, 2015	Mar. 31, 2016
Stockholders Equity Note [Line Items]
Common stock dividends, paid per share (in dollars per share)	$ 0.12
Retained Earnings
Stockholders Equity Note [Line Items]
Common stock dividends, total cash paid		$ 16.5

Contingencies (Details)

Contingencies (Details) $ in Millions	3 Months Ended
	Mar. 31, 2016USD ($)
Loss Contingency [Abstract]
Litigation settlement payment	$ (3)

Income Taxes (Details Textuals)

Income Taxes (Details Textuals) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Income Tax Disclosure [Abstract]
Income tax provision	$ 54,495	$ 15,130
Federal Statutory Income Tax Rate		35.00%
Unrecognized tax benefits	53,800
Accrued interest and penalties	$ 1,900

Income Taxes (Details 2)

Income Taxes (Details 2)	3 Months Ended
	Mar. 31, 2016
US Federal | Minimum
Income Tax Examination [Line Items]
Tax years open to examination by major taxing jurisdictions	2,012
US Federal | Maximum
Income Tax Examination [Line Items]
Tax years open to examination by major taxing jurisdictions	2,014
State of Oregon | Minimum
Income Tax Examination [Line Items]
Tax years open to examination by major taxing jurisdictions	2,012
State of Oregon | Maximum
Income Tax Examination [Line Items]
Tax years open to examination by major taxing jurisdictions	2,014
State of Massachusetts | Minimum
Income Tax Examination [Line Items]
Tax years open to examination by major taxing jurisdictions	2,011
State of Massachusetts | Maximum
Income Tax Examination [Line Items]
Tax years open to examination by major taxing jurisdictions	2,014
State of California | Minimum
Income Tax Examination [Line Items]
Tax years open to examination by major taxing jurisdictions	2,012
State of California | Maximum
Income Tax Examination [Line Items]
Tax years open to examination by major taxing jurisdictions	2,014
Sweden | Minimum
Income Tax Examination [Line Items]
Tax years open to examination by major taxing jurisdictions	2,011
Sweden | Maximum
Income Tax Examination [Line Items]
Tax years open to examination by major taxing jurisdictions	2,014
United Kingdom | Minimum
Income Tax Examination [Line Items]
Tax years open to examination by major taxing jurisdictions	2,011
United Kingdom | Maximum
Income Tax Examination [Line Items]
Tax years open to examination by major taxing jurisdictions	2,014
Belgium | Minimum
Income Tax Examination [Line Items]
Tax years open to examination by major taxing jurisdictions	2,011
Belgium | Maximum
Income Tax Examination [Line Items]
Tax years open to examination by major taxing jurisdictions	2,014

Operating Segments and Relate60

Operating Segments and Related Information (Details 2) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenue - External Customers	$ 379,472	$ 344,517
Intersegment revenue	0	0
Earnings (loss) from operations	57,377	65,754
Surveillance
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenue - External Customers	124,151	112,901
Intersegment revenue	4,224	3,682
Earnings (loss) from operations	35,240	30,166
Instruments
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenue - External Customers	79,418	83,821
Intersegment revenue	1,575	842
Earnings (loss) from operations	19,496	28,063
OEM & Emerging Markets
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenue - External Customers	47,845	39,834
Intersegment revenue	8,176	8,686
Earnings (loss) from operations	10,032	8,779
Maritime
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenue - External Customers	51,720	50,972
Intersegment revenue	615	657
Earnings (loss) from operations	4,998	4,789
Detection
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenue - External Customers	29,277	18,183
Intersegment revenue	0	0
Earnings (loss) from operations	7,880	2,680
Other
Segment Reporting, Revenue Reconciling Item [Line Items]
Intersegment revenue	(17,063)	(17,843)
Earnings (loss) from operations	$ (16,624)	$ (12,539)

Operating Segments and Relate61

Operating Segments and Related Information (Details 3) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Segment Reporting, Asset Reconciling Item [Line Items]
Segment assets (accounts receivable, net and inventories)	$ 697,400	$ 719,190
Surveillance
Segment Reporting, Asset Reconciling Item [Line Items]
Segment assets (accounts receivable, net and inventories)	257,612	286,058
Instruments
Segment Reporting, Asset Reconciling Item [Line Items]
Segment assets (accounts receivable, net and inventories)	109,601	130,135
OEM & Emerging Markets
Segment Reporting, Asset Reconciling Item [Line Items]
Segment assets (accounts receivable, net and inventories)	113,830	93,925
Maritime
Segment Reporting, Asset Reconciling Item [Line Items]
Segment assets (accounts receivable, net and inventories)	87,414	73,506
Detection
Segment Reporting, Asset Reconciling Item [Line Items]
Segment assets (accounts receivable, net and inventories)	$ 36,385	$ 30,057

Operating Segments and Relate62

Operating Segments and Related Information (Details 4) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Segment Reporting, Asset Reconciling Item [Line Items]
Segment Reporting Information Goodwill	$ 601,247	$ 596,316
Surveillance
Segment Reporting, Asset Reconciling Item [Line Items]
Segment Reporting Information Goodwill	120,549	120,145
Instruments
Segment Reporting, Asset Reconciling Item [Line Items]
Segment Reporting Information Goodwill	151,974	149,582
OEM & Emerging Markets
Segment Reporting, Asset Reconciling Item [Line Items]
Segment Reporting Information Goodwill	71,081	69,973
Maritime
Segment Reporting, Asset Reconciling Item [Line Items]
Segment Reporting Information Goodwill	105,413	106,549
Detection
Segment Reporting, Asset Reconciling Item [Line Items]
Segment Reporting Information Goodwill	$ 48,081	$ 48,112

Operating Segments and Relate63

Operating Segments and Related Information (Details 5) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue	$ 379,472	$ 344,517
United States
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue	194,300	166,500
Canada/Latin_America
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue	29,242	16,427
Europe
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue	84,410	93,255
Mid_East/Africa
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue	27,712	26,567
Asia
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue	$ 43,825	$ 41,813

Operating Segments and Relate64

Operating Segments and Related Information (Details 6) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Revenues from External Customers and Long-Lived Assets [Line Items]
Long-lived assets	$ 1,067,102	$ 1,063,457
United States
Revenues from External Customers and Long-Lived Assets [Line Items]
Long-lived assets	664,989	666,759
Europe
Revenues from External Customers and Long-Lived Assets [Line Items]
Long-lived assets	388,126	383,501
Other International
Revenues from External Customers and Long-Lived Assets [Line Items]
Long-lived assets	$ 13,987	$ 13,197

Operating Segments and Relate65

Operating Segments and Related Information (Details 7) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Revenue, Major Customer [Line Items]
Revenue	$ 379,472	$ 344,517
US Government
Revenue, Major Customer [Line Items]
Revenue	$ 85,636	$ 53,320

Subsequent Events (Details)

Subsequent Events (Details) - Dividend declared - USD ($) $ / shares in Units, $ in Millions	Jun. 03, 2016	May. 20, 2016	Apr. 21, 2016
Subsequent Event [Line Items]
Quarterly dividend, date declared			Apr. 21, 2016
Common Stock, Dividends, Per Share, Declared			$ 0.12
Quarterly dividend, date to be paid	Jun. 3, 2016
Quarterly dividend, date of record		May 20, 2016
Quarterly dividend, amount declared	$ 16.5