Amphenol (APH) 10-Q 4 Aug 16 2016 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2016	Jul. 29, 2016
Document and Entity Information
Entity Registrant Name	AMPHENOL CORP /DE/
Entity Central Index Key	820,313
Document Type	10-Q
Document Period End Date	Jun. 30, 2016
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Entity Current Reporting Status	Yes
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		308,724,545
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q2

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Jun. 30, 2016	Dec. 31, 2015
Current Assets:
Cash and cash equivalents	$ 794	$ 1,737.2
Short-term investments	30.7	23.2
Total cash, cash equivalents and short-term investments	824.7	1,760.4
Accounts receivable, less allowance for doubtful accounts of $25.1 and $25.6, respectively	1,257.3	1,104.6
Inventories	926.6	851.8
Other current assets	149.5	133.2
Total current assets	3,158.1	3,850
Land and depreciable assets, less accumulated depreciation of $969.6 and $900.9, respectively	692.8	609.5
Goodwill	3,641.7	2,692.9
Intangibles and other long-term assets	534.4	306
Total assets	8,027	7,458.4
Current Liabilities:
Accounts payable	645.1	587.8
Accrued salaries, wages and employee benefits	125.1	105.6
Accrued income taxes	66.8	81.8
Accrued dividends	43.2	43.2
Other accrued expenses	219.5	189.7
Current portion of long-term debt	0.3	0.3
Total current liabilities	1,100	1,008.4
Long-term debt, less current portion	2,834.6	2,813.2
Accrued pension benefit obligations and other long-term liabilities	518.5	358.4
Equity:
Common stock	0.3	0.3
Additional paid-in capital	890.2	783.3
Retained earnings	2,972.9	2,804.4
Accumulated other comprehensive loss	(328.8)	(349.5)
Total shareholders' equity attributable to Amphenol Corporation	3,534.6	3,238.5
Noncontrolling interests	39.3	39.9
Total equity	3,573.9	3,278.4
Total Liabilities and Equity	$ 8,027	$ 7,458.4

CONDENSED CONSOLIDATED BALANCE3

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Millions	Jun. 30, 2016	Dec. 31, 2015
CONDENSED CONSOLIDATED BALANCE SHEETS
Accounts receivable, allowance for doubtful accounts	$ 25.1	$ 25.6
Land and depreciable assets, accumulated depreciation	$ 969.6	$ 900.9

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF INCOME - USD ($) shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
CONDENSED CONSOLIDATED STATEMENTS OF INCOME
Net sales	$ 1,548.2	$ 1,351.5	$ 2,999.4	$ 2,678.6
Cost of sales	1,050.9	919	2,042.8	1,821.6
Gross profit	497.3	432.5	956.6	857
Acquisition-related expenses		5.7	30.3	5.7
Selling, general and administrative expense	197	166.1	386.5	330.4
Operating income	300.3	260.7	539.8	520.9
Interest expense	(18)	(17.1)	(36.1)	(34.1)
Other income, net	1.7	4.2	2.7	8.3
Income before income taxes	284	247.8	506.4	495.1
Provision for income taxes	(75.3)	(67.2)	(139.2)	(132.7)
Net income	208.7	180.6	367.2	362.4
Less: Net income attributable to noncontrolling interests	(2.2)	(1.6)	(4)	(3.6)
Net income attributable to Amphenol Corporation	$ 206.5	$ 179	$ 363.2	$ 358.8
Net income per common share - Basic (in dollars per share)	$ 0.67	$ 0.58	$ 1.18	$ 1.16
Weighted average common shares outstanding - Basic (in shares)	308.2	308.9	307.9	309.5
Net income per common share - Diluted (in dollars per share)	$ 0.65	$ 0.56	$ 1.15	$ 1.13
Weighted average common shares outstanding - Diluted (in shares)	315.4	316.9	314.8	317.4
Dividends declared per common share (in dollars per share)	$ 0.14	$ 0.125	$ 0.28	$ 0.25

CONDENSED CONSOLIDATED STATEME5

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME
Net income	$ 208.7	$ 180.6	$ 367.2	$ 362.4
Total other comprehensive income (loss), net of tax:
Foreign currency translation adjustments	(34.9)	11.3	11.2	(56.6)
Unrealized (loss) gain on cash flow hedges	(1.3)	(0.5)	1	0.1
Defined benefit plan adjustment, net of tax of ($2.2) and ($4.4) for 2016, and ($2.5) and ($3.3) for 2015, respectively	4	4.6	8	6.2
Total other comprehensive income (loss), net of tax	(32.2)	15.4	20.2	(50.3)
Total comprehensive income	176.5	196	387.4	312.1
Less: Comprehensive income attributable to noncontrolling interests	(1.4)	(1.7)	(3.5)	(3.6)
Comprehensive income attributable to Amphenol Corporation	$ 175.1	$ 194.3	$ 383.9	$ 308.5

CONDENSED CONSOLIDATED STATEME6

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Parenthetical) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME
Defined benefit plan adjustment, tax	$ (2.2)	$ (2.5)	$ (4.4)	$ (3.3)

CONDENSED CONSOLIDATED STATEME7

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOW - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015
Cash from operating activities:
Net income	$ 367.2	$ 362.4
Adjustments to reconcile net income to cash provided by operating activities:
Depreciation and amortization	112.4	83.5
Stock-based compensation expense	23.2	20.2
Excess tax benefits from stock-based compensation payment arrangements	(16.5)	(9.1)
Net change in components of working capital	(62.6)	(44.3)
Net change in other long-term assets and liabilities	14.1	10.1
Net cash provided by operating activities	437.8	422.8
Cash from investing activities:
Purchases of land and depreciable assets	(89.1)	(85.2)
Proceeds from disposals of land and depreciable assets	3.4	2.3
Purchases of short-term investments	(33)	(113.6)
Sales and maturities of short-term investments	25.2	319.8
Acquisitions, net of cash acquired	(1,185.8)	(171.8)
Net cash used in investing activities	(1,279.3)	(48.5)
Cash from financing activities:
Long-term borrowings under credit facilities		125
Repayments of long-term debt		(211)
Borrowings under commercial paper program, net	18.1	172.5
Payment of costs related to debt financing	(3)
Proceeds from exercise of stock options	67.8	40.2
Excess tax benefits from stock-based compensation payment arrangements	16.5	9.1
Distributions to shareholders of noncontrolling interests	(4.1)	(4.4)
Purchase and retirement of treasury stock	(108.4)	(143.6)
Dividend payments	(86.3)	(77.5)
Net cash used in financing activities	(99.4)	(89.7)
Effect of exchange rate changes on cash and cash equivalents	(2.3)	(10.7)
Net change in cash and cash equivalents	(943.2)	273.9
Cash and cash equivalents balance, beginning of period	1,737.2	968.9
Cash and cash equivalents balance, end of period	794	1,242.8
Cash paid for:
Interest	34	32
Income taxes	$ 138.7	$ 128.7

Basis of Presentation and Princ

Basis of Presentation and Principles of Consolidation	6 Months Ended
	Jun. 30, 2016
Basis of Presentation and Principles of Consolidation
Basis of Presentation and Principles of Consolidation	Note 1—Basis of Presentation and Principles of Consolidation The condensed consolidated balance sheets as of June 30, 2016 and December 31, 2015, the related condensed consolidated statements of income and condensed consolidated statements of comprehensive income for the three and six months ended June 30, 2016 and 2015, and the related condensed consolidated statements of cash flow for the six months ended June 30, 2016 and 2015 include the accounts of Amphenol Corporation and its subsidiaries (the “Company”). All material intercompany balances and transactions have been eliminated in consolidation. The condensed consolidated financial statements included herein are unaudited. In the opinion of management, all adjustments, consisting of normal recurring adjustments, necessary for a fair presentation in conformity with accounting principles generally accepted in the United States of America have been included. The results of operations for the three and six months ended June 30, 2016 are not necessarily indicative of the results to be expected for the full year. These condensed consolidated financial statements and the related notes should be read in conjunction with the consolidated financial statements and notes included in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2015 (the “2015 Annual Report”).

New Accounting Pronouncements

New Accounting Pronouncements	6 Months Ended
	Jun. 30, 2016
New Accounting Pronouncements
New Accounting Pronouncements	Note 2—New Accounting Pronouncements In May 2014, the Financial Accounting Standards Board (the “FASB”) issued Accounting Standards Update No. 2014-09, Revenue from Contracts with Customers (“ASU 2014-09”), which stipulates that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for such goods or services. To achieve this core principle, an entity should apply the following steps: (1) identify the contract(s) with a customer, (2) identify the performance obligations in the contract(s), (3) determine the transaction price(s), (4) allocate the transaction price(s) to the performance obligations in the contract(s), and (5) recognize revenue when (or as) the entity satisfies a performance obligation. The guidance also requires advanced disclosures regarding the nature, amount, timing and uncertainty of revenue and cash flows arising from an entity’s contracts with customers. In August 2015, the FASB issued Accounting Standards Update No. 2015-14, Revenue from Contracts with Customers (Topic 606): Deferral of the Effective Date (“ASU 2015-14”), which defers the effective date of FASB’s revenue standard under ASU 2014-09 by one year for all entities and permits early adoption on a limited basis. As a result of ASU 2015-14, the guidance under ASU 2014-09 shall apply for annual reporting periods beginning after December 15, 2017, including interim reporting periods within that period. Early adoption is permitted as of annual reporting periods beginning after December 15, 2016, including interim reporting periods within those annual periods. In March 2016, the FASB issued Accounting Standards Update No. 2016-08, Revenue from Contracts with Customers (Topic 606): Principal versus Agent Considerations (Reporting Revenue Gross versus Net) , which clarified the implementation guidance on principal versus agent considerations. In April 2016, the FASB issued Accounting Standards Update No. 2016-10, Revenue from Contracts with Customers (Topic 606): Identifying Performance Obligations and Licensing , which clarified the implementation guidance regarding performance obligations and licensing arrangements. The Company is currently evaluating ASU 2014-09 and does not anticipate a material impact on its consolidated financial statements. In July 2015, the FASB issued Accounting Standards Update No. 2015-11, Simplifying the Measurement of Inventory (“ASU 2015-11”), which requires inventory to be measured at the lower of cost and net realizable value, thereby simplifying the current guidance of measuring inventory at the lower of cost or market. ASU 2015-11 is effective prospectively for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2016. The Company has evaluated ASU 2015-11 and does not believe it will have a material impact on its consolidated financial statements. In February 2016, the FASB issued Accounting Standards Update No. 2016-02, Leases (Topic 842) (“ASU 2016-02”) , which amends, among other things, the existing guidance by requiring lessees to recognize lease assets (right-to-use) and liabilities (for reasonably certain lease payments) arising from operating leases on the balance sheet. For leases with a term of twelve months or less, ASU 2016-02 permits an entity to make an accounting policy election to recognize such leases as lease expense, generally on a straight-line basis over the lease term. ASU 2016-02 is effective for interim and annual periods beginning after December 15, 2018 using a modified retrospective approach, with early adoption permitted. The Company is currently evaluating ASU 2016-02 and its impact on its consolidated financial statements. In March 2016, the FASB issued Accounting Standards Update No. 2016-09, Compensation-Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting (“ASU 2016-09”) , which simplifies certain provisions associated with the accounting for stock compensation, including the income tax consequences, classification of awards, and classification on the statement of cash flows. ASU 2016-09 is effective for interim and annual periods beginning after December 15, 2016, with early adoption permitted. The Company is currently evaluating ASU 2016-09 and its impact on its consolidated financial statements.

Inventories

Inventories	6 Months Ended
	Jun. 30, 2016
Inventories
Inventories	Note 3—Inventories Inventories consist of: June 30, 2016 December 31, 2015 Raw materials and supplies $ $ Work in process Finished goods $ $

Reportable Business Segments

Reportable Business Segments	6 Months Ended
	Jun. 30, 2016
Reportable Business Segments
Reportable Business Segments	Note 4—Reportable Business Segments The Company has two reportable business segments: (i) Interconnect Products and Assemblies and (ii) Cable Products and Solutions. The Company aggregates its operating segments into reportable segments based upon similar economic characteristics and business groupings of products, services and customers. The Interconnect Product and Assemblies segment primarily designs, manufactures and markets a broad range of connector and connector systems, value-add products and other products, including antennas and sensors, used in a broad range of applications in a diverse set of end markets. The Cable Products and Solutions segment primarily designs, manufactures and markets cable, value-add products and components for use primarily in the broadband communications and information technology markets as well as certain applications in other markets. The accounting policies of the segments are the same as those for the Company as a whole and are described in Note 1 of the notes to the consolidated financial statements in the Company’s 2015 Annual Report. The Company evaluates the performance of business units on, among other things, profit or loss from operations before interest, headquarters’ expense allocations, stock-based compensation expense, income taxes, amortization related to certain intangible assets and nonrecurring gains and losses. The segment results for the three and six months ended June 30, 2016 and 2015 are as follows: Interconnect Products and Assemblies Cable Products and Solutions Total 2016 2015 2016 2015 2016 2015 Three months ended June 30: Net sales: External $ $ $ $ $ $ Intersegment Segment operating income Six months ended June 30: Net sales: External $ $ $ $ $ $ Intersegment Segment operating income A reconciliation of segment operating income to consolidated income before income taxes for the three and six months ended June 30, 2016 and 2015 is summarized as follows: Three months ended June 30, Six months ended June 30, 2016 2015 2016 2015 Segment operating income $ $ $ $ Interest expense ) ) ) ) Other income, net Stock-based compensation expense ) ) ) ) Acquisition-related expenses — ) ) ) Other operating expenses ) ) ) ) Income before income taxes $ $ $ $

Changes in Equity and Noncontro

Changes in Equity and Noncontrolling Interests	6 Months Ended
	Jun. 30, 2016
Changes in Equity and Noncontrolling Interests
Changes in Equity and Noncontrolling Interests	Note 5—Changes in Equity and Noncontrolling Interests Net income attributable to noncontrolling interests is classified below net income. Earnings per share is determined after the impact of the noncontrolling interests’ share in net income of the Company. In addition, the equity attributable to noncontrolling interests is presented as a separate caption within equity. A rollforward of consolidated changes in equity for the six months ended June 30, 2016 is as follows: Amphenol Corporation Shareholders Common Stock Accumulated Other Shares (in millions) Amount Additional Paid- In Capital Retained Earnings Comprehensive Loss Treasury Stock Noncontrolling Interests Total Equity Balance as of December 31, 2015 $ $ $ $ ) $ — $ $ Net income Other comprehensive income (loss) ) Distributions to shareholders of noncontrolling interests ) ) Purchase of treasury stock ) ) Retirement of treasury stock ) ) — Stock options exercised, including tax benefit Dividends declared ) ) Stock-based compensation expense Balance as of June 30, 2016 $ $ $ $ ) $ — $ $ A rollforward of consolidated changes in equity for the six months ended June 30, 2015 is as follows: Amphenol Corporation Shareholders Common Stock Accumulated Other Shares (in millions) Amount Additional Paid- In Capital Retained Earnings Comprehensive Loss Treasury Stock Noncontrolling Interests Total Equity Balance as of December 31, 2014 $ $ $ $ ) $ — $ $ Net income Other comprehensive income (loss) ) ) Acquisition resulting in noncontrolling interest Distributions to shareholders of noncontrolling interests ) ) Purchase of treasury stock ) ) Retirement of treasury stock ) ) — Stock options exercised, including tax benefit Dividends declared ) ) Stock-based compensation expense Balance as of June 30, 2015 $ $ $ $ ) $ — $ $

Earnings Per Share

Earnings Per Share	6 Months Ended
	Jun. 30, 2016
Earnings Per Share
Earnings Per Share	Note 6—Earnings Per Share Basic earnings per share (“EPS”) is computed by dividing net income attributable to Amphenol Corporation by the weighted average number of common shares outstanding. Diluted EPS is computed by dividing net income attributable to Amphenol Corporation by the weighted average number of common shares and dilutive common shares outstanding, which relates to stock options. A reconciliation of the basic weighted average common shares outstanding to diluted weighted average common shares outstanding for the three and six months ended June 30, 2016 and 2015 is as follows (dollars and shares in millions): Three months ended June 30, Six months ended June 30, 2016 2015 2016 2015 Net income attributable to Amphenol Corporation shareholders $ $ $ $ Basic weighted average common shares outstanding Effect of dilutive stock options Diluted weighted average common shares outstanding Earnings per share attributable to Amphenol Corporation shareholders: Basic $ $ $ $ Diluted $ $ $ $ Excluded from the computations above were anti-dilutive common shares of 8.2 million and 1.7 million for the three months ended June 30, 2016 and 2015, respectively, and 10.0 million and 2.7 million for the six months ended June 30, 2016 and 2015, respectively.

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2016
Commitments and Contingencies
Commitments and Contingencies	Note 7—Commitments and Contingencies The Company has been named as defendant in several legal actions in which various amounts are claimed arising from normal business activities. The Company records a loss contingency liability when there is at least a reasonable possibility that a loss is considered probable and the amount can be reasonably estimated. Although the potential liability with respect to such legal actions cannot be reasonably estimated, such matters are not expected to have a material adverse effect on the Company’s financial condition, results of operations or cash flows. The Company’s legal costs associated with defending itself are recorded to expense as incurred. Certain operations of the Company are subject to environmental laws and regulations which govern the discharge of pollutants into the air and water, as well as the handling and disposal of solid and hazardous wastes. The Company believes that its operations are currently in substantial compliance with applicable environmental laws and regulations and that the costs of continuing compliance will not have a material effect on the Company’s financial condition, results of operations or cash flows.

Stock-Based Compensation

Stock-Based Compensation	6 Months Ended
	Jun. 30, 2016
Stock-Based Compensation
Stock-Based Compensation	Note 8—Stock-Based Compensation Stock Options In 2009, the Company adopted the 2009 Stock Purchase and Option Plan for Key Employees of Amphenol and its Subsidiaries (the “2009 Employee Option Plan”). The Company also continues to maintain the 2000 Stock Purchase and Option Plan for Key Employees of Amphenol and Subsidiaries (the “2000 Employee Option Plan”). No additional stock options can be granted under the 2000 Employee Option Plan. The 2009 Employee Option Plan authorizes the granting of additional stock options by a committee of the Company’s Board of Directors. The number of shares of the Company’s Class A Common Stock (“Common Stock”) reserved for issuance under the 2009 Employee Option Plan, as amended, is 58,000,000 shares. As of June 30, 2016, there were 11,965,910 shares of Common Stock available for the granting of additional stock options under the 2009 Employee Option Plan. Options granted under the 2000 Employee Option Plan are fully vested and are generally exercisable over a period of ten years from the date of grant. Options granted under the 2009 Employee Option Plan generally vest ratably over a period of five years from the date of grant and are generally exercisable over a period of ten years from the date of grant. In 2004, the Company adopted the 2004 Stock Option Plan for Directors of Amphenol Corporation (the “2004 Directors Option Plan”). The 2004 Directors Option Plan is administered by the Company’s Board of Directors. As of June 30, 2016, there were 140,000 shares of Common Stock available for the granting of additional stock options under the 2004 Directors Option Plan, although no additional stock options are expected to be granted under this plan. Options were last granted under the 2004 Directors Option Plan in May 2011. Options granted under the 2004 Directors Option Plan are fully vested and are generally exercisable over a period of ten years from the date of grant. Stock option activity for the three and six months ended June 30, 2016 was as follows: Options Weighted Average Exercise Price Weighted Average Remaining Contractual Term (in years) Aggregate Intrinsic Value Options outstanding at January 1, 2016 $ $ Options granted Options exercised ) Options forfeited ) Options outstanding at March 31, 2016 Options granted Options exercised ) Options forfeited ) Options outstanding at June 30, 2016 Vested and non-vested options expected to vest at June 30, 2016 $ $ Exercisable options at June 30, 2016 $ $ A summary of the status of the Company’s non-vested options as of June 30, 2016 and changes during the three and six months then ended is as follows: Options Weighted Average Fair Value at Grant Date Non-vested options at January 1, 2016 $ Options granted Options vested ) Options forfeited ) Non-vested options at March 31, 2016 Options granted Options vested ) Options forfeited ) Non-vested options at June 30, 2016 During the three and six months ended June 30, 2016 and 2015, the following activity occurred under the Company’s option plans: Three months ended June 30, Six months ended June 30, 2016 2015 2016 2015 Total intrinsic value of stock options exercised $ $ $ $ Total fair value of stock options vested As of June 30, 2016, the total compensation cost related to non-vested options not yet recognized was approximately $133.3 with a weighted average expected amortization period of 3.67 years. Restricted Shares In 2012, the Company adopted the 2012 Restricted Stock Plan for Directors of Amphenol Corporation (the “2012 Directors Restricted Stock Plan”). The 2012 Directors Restricted Stock Plan is administered by the Company’s Board of Directors. As of June 30, 2016, the number of restricted shares available for grant under the 2012 Directors Restricted Stock Plan was 137,069. Restricted shares granted under the 2012 Directors Restricted Stock Plan generally vest on the first anniversary of the grant date. Grants under the 2012 Directors Restricted Stock Plan entitle the holder to receive shares of the Company’s Common Stock without payment. Restricted share activity for the three and six months ended June 30, 2016 was as follows: Restricted Shares Fair Value at Grant Date Weighted Average Remaining Amortization Term (in years) Restricted shares outstanding at January 1, 2016 $ Restricted shares granted — — Restricted shares outstanding at March 31, 2016 Shares vested and issued ) Restricted shares granted Restricted shares outstanding at June 30, 2016 As of June 30, 2016, the total compensation cost related to non-vested restricted shares not yet recognized was approximately $0.9 with a weighted average expected amortization period of 0.90 years. The grant-date fair value of each option grant under the 2000 Employee Option Plan, the 2009 Employee Option Plan and the 2004 Directors Option Plan is estimated using the Black-Scholes option pricing model. The grant-date fair value of each restricted share grant is determined based on the closing share price of the Company’s Common Stock on the date of the grant. The fair value is then amortized on a straight-line basis over the requisite service period of the awards, which is generally the vesting period. Use of a valuation model for option grants requires management to make certain assumptions with respect to selected model inputs. Expected share price volatility is calculated based on the historical volatility of the Common Stock and implied volatility derived from related exchange traded options. The average expected life is based on the contractual term of the option and expected exercise and historical post-vesting termination experience. The risk-free interest rate is based on U.S. Treasury zero-coupon issues with a remaining term equal to the expected life assumed at the date of grant. The expected annual dividend per share is based on the Company’s dividend rate. Stock-based compensation expense includes the estimated effects of forfeitures, which are adjusted over the requisite service period to the extent actual forfeitures differ or are expected to differ from such estimates. Changes in estimated forfeitures are recognized in the period of change and impact the amount of expense to be recognized in future periods. For the three months ended June 30, 2016, the Company’s income before income taxes and net income were reduced for stock-based compensation expense by $11.7 and $8.9, respectively, and these reductions were $23.2 and $17.7, respectively, for the six months ended June 30, 2016. For the three months ended June 30, 2015, the Company’s income before income taxes and net income were reduced for stock-based compensation expense by $10.1 and $7.6, respectively, and those reductions were $20.2 and $15.1, respectively, for the six months ended June 30, 2015. The expense incurred for stock-based compensation is included in Selling, general and administrative expense in the accompanying Condensed Consolidated Statements of Income.

Shareholders' Equity

Shareholders' Equity	6 Months Ended
	Jun. 30, 2016
Shareholders' Equity
Shareholders' Equity	Note 9—Shareholders’ Equity In January 2015, the Board of Directors authorized a stock repurchase program under which the Company may repurchase up to 10 million shares of Common Stock during the two year period ending January 20, 2017 (the “2015 Stock Repurchase Program”). During the six months ended June 30, 2016, the Company repurchased 2.0 million shares of Common Stock for $108.4. These treasury shares have been retired by the Company and common stock and retained earnings were reduced accordingly. Through July 29, 2016, the Company repurchased an additional 0.7 million shares of Common Stock for $42.2. At July 29, 2016, approximately 2.8 million additional shares of Common Stock may be repurchased under the 2015 Stock Repurchase Program. The price and timing of any future purchases under the 2015 Stock Repurchase Program will depend on factors such as levels of cash generation from operations, the volume of stock option exercises by employees, cash requirements for acquisitions, dividends, economic and market conditions and stock price. Contingent upon declaration by the Board of Directors, the Company generally pays a quarterly dividend on shares of its Common Stock. In the third quarter of 2015, the Board of Directors approved an increase in the quarterly dividend rate from $0.125 to $0.14 per share effective with the third quarter 2015 dividend. For the three and six months ended June 30, 2016, the Company paid dividends in the amount of $43.0 and $86.3, respectively, and declared dividends in the amount of $43.2 and $86.3, respectively. For the three and six months ended June 30, 2015, the Company paid dividends in the amount of nil and $77.5, respectively, and declared dividends in the amount of $38.6 and $77.4, respectively.

Benefit Plans and Other Postret

Benefit Plans and Other Postretirement Benefits	6 Months Ended
	Jun. 30, 2016
Benefit Plans and Other Postretirement Benefits
Benefit Plans and Other Postretirement Benefits	Note 10—Benefit Plans and Other Postretirement Benefits The Company and certain of its domestic subsidiaries have defined benefit pension plans (the “U.S. Plans”), which cover certain U.S. employees and which represent the majority of the plan assets and benefit obligations of the aggregate defined benefit plans of the Company. The U.S. Plans’ benefits are generally based on years of service and compensation and are generally noncontributory. Certain U.S. employees not covered by the U.S. Plans are covered by defined contribution plans. Certain foreign subsidiaries have defined benefit plans covering their employees (the “International Plans” and, together with the U.S. Plans, the “Plans”). The following is a summary, based on the most recent actuarial valuations of the Company’s net cost for pension benefits, of the Plans and other postretirement benefits for the three and six months ended June 30, 2016 and 2015. Pension Benefits Other Postretirement Benefits 2016 2015 2016 2015 Three months ended June 30: Service cost $ $ $ — $ — Interest cost Expected return on plan assets ) ) — — Amortization of prior service cost — — Amortization of net actuarial losses Net pension expense $ $ $ $ Six months ended June 30: Service cost $ $ $ — $ — Interest cost Expected return on plan assets ) ) — — Amortization of prior service cost — — Amortization of net actuarial losses Net pension expense $ $ $ $ For the three and six months ended June 30, 2016, the Company did not make a cash contribution to the Plans, and estimates that, based on current actuarial calculations, it will make aggregate cash contributions to the Plans in 2016 of approximately $22.0, the majority of which will be to the U.S. Plans. The timing and amount of cash contributions in subsequent years will depend on a number of factors, including the investment performance of the Plan assets. The Company offers various defined contribution plans for certain U.S. and foreign employees. Participation in these plans is based on certain eligibility requirements. The Company matches the majority of employee contributions to U.S. defined contribution plans with cash contributions up to a maximum of 5% of eligible compensation. During the six months ended June 30, 2016 and 2015, the total matching contributions to these U.S. defined contribution plans in each period were approximately $2.2.

Acquisitions

Acquisitions	6 Months Ended
	Jun. 30, 2016
Acquisitions
Acquisitions	Note 11—Acquisitions On January 8, 2016, the Company acquired all of the share capital of FCI Asia Pte Ltd (“FCI”) for a purchase price of approximately $1,178.6 (subject to closing adjustments), net of cash acquired. The acquisition was funded by cash, cash equivalents and short-term investments that were held outside of the United States. In the first quarter of 2016, the Company incurred approximately $30.3 ($27.3 after-tax) of acquisition-related expenses related to the acquisition of FCI, which are separately presented in the accompanying Condensed Consolidated Statements of Income, primarily related to external transaction costs, amortization related to the value associated with acquired backlog and post-closing restructuring charges. In addition, during the second quarter of 2015, the Company incurred approximately $5.7 ($5.7 after-tax) of acquisition-related expenses related to professional fees and other external expenses primarily related to the FCI acquisition. The accompanying Condensed Consolidated Statements of Income include the results of FCI for the period from the acquisition date through June 30, 2016. Excluding the impact of acquisitions as well as the negative impact of foreign exchange of approximately $9.0 and $28.4 for the three and six months ended June 30, 2016, respectively, compared to the same prior year periods, the Company’s n et sales increased approximately 4% and 1% in the three and six months ended June 30, 2016, respectively, compared to the same prior year periods. Headquartered in Singapore, FCI, a global leader in interconnect solutions for the information technology and data communications, industrial, mobile networks, automotive and mobile devices markets, is reported as part of the Company’s Interconnect Products and Assemblies segment. FCI is a leading supplier of high-speed backplane and mezzanine connectors, power interconnect solutions and a wide variety of board-mounted interconnects. Allocation of Purchase Price The purchase price was allocated to the tangible and identifiable intangible assets acquired and liabilities assumed of FCI based upon their estimated fair values. The excess purchase price over the fair value of the underlying net assets acquired was allocated to goodwill, which primarily represents the value of the assembled workforce along with anticipated cost savings and efficiencies associated with the integration of FCI and other intangible assets acquired that do not qualify for separate recognition. The Company is in the process of completing its analysis of the fair value of the net assets acquired through the use of independent valuations and management’s estimates. Since the following information is based on preliminary assessments made by management, the acquisition accounting for FCI is subject to final adjustment and it is possible that the final assessment of values may differ from this preliminary assessment. The following table summarizes the preliminary assessment of the estimated fair values of the identifiable assets acquired and liabilities assumed, net of cash acquired, as of the date of acquisition of January 8, 2016. Accounts receivable $ Inventories Other current assets Land and depreciable assets Goodwill Intangible assets Other long-term assets Assets acquired Accounts payable Other current liabilities Accrued pension benefit obligations and other long-term liabilities Liabilities assumed Net assets acquired $ Of the $252.0 of acquired intangible assets, $133.8 was assigned to indefinite-lived trade names which are not subject to amortization. The remaining $118.2 of finite-lived acquired intangible assets is comprised of $53.2, $57.0 and $8.0 assigned to proprietary technology, customer relationships and backlog, respectively, all of which are subject to amortization. The finite-lived acquired intangible assets have a total weighted average useful life of approximately 10 years. The proprietary technology, customer relationships and backlog have a weighted average useful life of 9 years, 12 years and 0.25 years, respectively. These finite-lived intangible assets will be amortized based upon the underlying pattern of economic benefit as reflected by the future net cash inflows. The entire amount of goodwill was assigned to the Interconnect Products and Assemblies segment, of which approximately $91.9 is expected to be deductible for tax purposes. Pro Forma Financial Information The following table summarizes the unaudited pro forma combined financial information assuming that the FCI acquisition had occurred on January 1, 2015, and its results had been included in our financial results for the full three and six months ended June 30, 2016 and 2015. The pro forma amounts are based upon available information and reflect a reasonable estimate of the effects of the FCI acquisition for the periods presented on the basis set forth herein. The following unaudited pro forma financial information is presented for informational purposes only and does not purport to represent what the financial position or results of operations would have been had the FCI acquisition in fact occurred on the date assumed, nor is it necessarily indicative of the results that may be expected in future periods. Three months ended June 30, Six months ended June 30, Pro forma: 2016 2015 2016 2015 Net sales $ $ $ $ Net income attributable to Amphenol Corporation Net income per common share - Diluted The unaudited pro forma Net income attributable to Amphenol Corporation has been calculated using actual historical information and is adjusted for certain pro forma adjustments based on the assumption that the FCI acquisition and the application of fair value adjustments to intangible assets occurred on January 1, 2015. For the three and six months ended June 30, 2016, the pro forma financial information excluded acquisition-related expenses, net of tax, of nil and $27.3, respectively, which are included in the reported results, but excluded from the pro forma amounts above due to their nonrecurring nature. For the three and six months ended June 30, 2015, the pro forma financial information reflects the following adjustments, net of tax: (a) acquisition-related expenses of $5.7 for both periods in 2015, which were included in the reported results, but excluded from the pro forma amounts above due to their nonrecurring nature, (b) amortization expense related to the acquired intangible assets of $2.2 and $4.4, respectively, that was not reflected in the historical results, but has been included in the pro forma amounts, (c) interest income of approximately $2.9 and $5.8, respectively, earned on the cash, cash equivalents and short-term investments used to fund the FCI acquisition that was included in the historical results, but excluded from the pro forma amounts, and (d) other expense (income) of $2.1 and $(1.7), respectively, that was included in the historical results of FCI, but excluded from the pro forma amounts due to its nonrecurring nature. Other Acquisitions The Company has completed its analysis of fair value of the assets acquired and liabilities assumed related to its 2015 acquisitions and the final assessment of values did not differ materially from the preliminary assessment. The 2015 acquisitions were not material to the Company either individually or in the aggregate.

Goodwill and Other Intangible A

Goodwill and Other Intangible Assets	6 Months Ended
	Jun. 30, 2016
Goodwill and Other Intangible Assets
Goodwill and Other Intangible Assets	Note 12 — Goodwill and Other Intangible Assets The changes in the carrying amount of goodwill by segment were as follows: Interconnect Products and Cable Products and Assemblies Solutions Total Goodwill at December 31, 2015 $ $ $ Acquisition-related — Foreign currency translation — Goodwill at June 30, 2016 $ $ $ The increase in goodwill, net of foreign currency translation, during the first six months of 2016 is primarily due to the acquisition of FCI on January 8, 2016, which is included in the Interconnect Products and Assemblies segment. Other than goodwill and indefinite-lived trade name intangible assets with a value of approximately $186.1 and $52.3 as of June 30, 2016 and December 31, 2015, respectively, the Company’s intangible assets are subject to amortization. A summary of the Company’s amortizable intangible assets as of June 30, 2016 and December 31, 2015 is as follows: June 30, 2016 December 31, 2015 Gross Carrying Amount Accumulated Amortization Net Carrying Amount Gross Carrying Amount Accumulated Amortization Net Carrying Amount Customer relationships $ $ $ $ $ $ Proprietary technology License agreements — — Backlog and other Total $ $ $ $ $ $ Customer relationships, proprietary technology, license agreements, and backlog and other amortizable intangible assets have weighted average useful lives of approximately 10 years, 11 years, 8 years and 1 year, respectively, for an aggregate weighted average useful life of approximately 10 years at June 30, 2016. Intangible assets are included in Intangibles and other long-term assets in the accompanying Condensed Consolidated Balance Sheets. The amortization expense for the three months ended June 30, 2016 and 2015 was approximately $11.4 and $8.4, respectively. The amortization expense for the six months ended June 30, 2016 and 2015 was approximately $31.1 and $16.7, respectively. As of June 30, 2016, amortization expense estimated for the remainder of 2016 is approximately $22.8 and for each of the next five fiscal years is approximately $45.8 in 2017, $41.7 in 2018, $37.6 in 2019, $31.4 in 2020 and $26.6 in 2021.

Debt

Debt	6 Months Ended
	Jun. 30, 2016
Debt
Debt	Note 13—Debt The Company’s debt consists of the following: June 30, 2016 December 31, 2015 Carrying Amount Approximate Fair Value Carrying Amount Approximate Fair Value Revolving Credit Facility (maximum aggregate principal amount of $2,000.0 and $1,500.0 as of June 30, 2016 and December 31, 2015, respectively) $ — $ — $ — $ — Commercial Paper Program (maximum aggregate principal amount of $2,000.0 and $1,500.0 as of June 30, 2016 and December 31, 2015, respectively) 1.55% Senior Notes due September 2017 2.55% Senior Notes due January 2019 3.125% Senior Notes due September 2021 4.00% Senior Notes due February 2022 Notes payable to foreign banks and other debt Less deferred debt issuance costs ) — ) — Total debt Less current portion Total long-term debt $ $ $ $ Revolving Credit Facility On March 1, 2016, the Company replaced its $1,500.0 unsecured credit facility with a new $2,000.0 unsecured credit facility (the “2016 Revolving Credit Facility”). The 2016 Revolving Credit Facility, which matures March 2021, increases the aggregate commitments by $500.0 and gives the Company the ability to borrow at a spread over LIBOR. The Company intends to utilize the new credit facility for general corporate purposes. At June 30, 2016, there were no borrowings under the 2016 Revolving Credit Facility. The 2016 Revolving Credit Facility requires payment of certain annual agency and commitment fees and requires that the Company satisfy certain financial covenants. At June 30, 2016, the Company was in compliance with the financial covenants under the 2016 Revolving Credit Facility. Commercial Paper Program The Company has a commercial paper program (the “Commercial Paper Program”) pursuant to which the Company issues short-term unsecured commercial paper notes (“Commercial Paper”) in one or more private placements. Amounts available under the Commercial Paper Program are borrowed, repaid and re-borrowed from time to time. The maturities of the Commercial Paper vary, but may not exceed 397 days from the date of issue. The Commercial Paper is sold under customary terms in the commercial paper market and may be issued at a discount from par, or, alternatively, may be sold at par and bear varying interest rates on a fixed or floating basis. The Commercial Paper Program is rated A-2 by Standard & Poor’s and P-2 by Moody’s and is backstopped by the 2016 Revolving Credit Facility. Effective April 1, 2016, the maximum aggregate principal amount of the Commercial Paper outstanding under the Commercial Paper Program at any time was increased by $500.0 from $1,500.0 to $2,000.0. The Commercial Paper is classified as long-term debt in the accompanying Condensed Consolidated Balance Sheets since the Company has the intent and ability to refinance the Commercial Paper on a long-term basis using the 2016 Revolving Credit Facility. The carrying value of Commercial Paper borrowings approximated their fair value given that the Commercial Paper is actively traded. As such, the Commercial Paper is classified as Level 1 in the fair value hierarchy (Note 14). The average interest rate on the Commercial Paper as of June 30, 2016 was 0.81%. Senior Notes All of the Company’s outstanding senior notes, which are listed in the table above, are unsecured and rank equally in right of payment with the Company’s other unsecured senior indebtedness. Interest on each series of the senior notes is payable semiannually. The Company may, at its option, redeem some or all of any series of senior notes at any time by paying 100% of the principal amount, plus accrued and unpaid interest, if any, to the date of repurchase, and if redeemed prior to the date of maturity, a make-whole premium. The fair value of the senior notes is based on recent bid prices in an active market and is therefore classified as Level 1 in the fair value hierarchy (Note 14).

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Jun. 30, 2016
Fair Value Measurements
Fair Value Measurements	Note 14—Fair Value Measurements Fair value is determined based on the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants. These requirements establish market or observable inputs as the preferred source of values. Assumptions based on hypothetical transactions are used in the absence of market inputs. The Company does not have any non-financial instruments accounted for at fair value on a recurring basis. The valuation techniques required are based upon observable and unobservable inputs. Observable inputs reflect market data obtained from independent sources, while unobservable inputs reflect the Company’s market assumptions. These two types of inputs create the following fair value hierarchy: Level 1 Quoted prices for identical instruments in active markets. Level 2 Quoted prices for similar instruments in active markets; quoted prices for identical or similar instruments in markets that are not active; and model-derived valuations whose inputs are observable or whose significant value drivers are observable. Level 3 Significant inputs to the valuation model are unobservable. The Company believes that the assets or liabilities subject to such standards with fair value disclosure requirements are short-term investments and derivative instruments. Substantially all of the Company’s short-term investments consist of certificates of deposit with original maturities of twelve months or less and as such, are considered as Level 1 in the fair value hierarchy as they are traded in active markets which have identical assets. The carrying amounts of these instruments, the majority of which are in non-U.S. bank accounts, approximate their fair value. The Company’s derivative instruments represent foreign exchange rate forward contracts, which are valued using bank quotations based on market observable inputs such as forward and spot rates and are therefore classified as Level 2 in the fair value hierarchy. The impact of the credit risk related to these financial assets is immaterial. The fair values of the Company’s financial and non-financial assets and liabilities subject to such standards at June 30, 2016 and December 31, 2015 are as follows: Fair Value Measurements Total Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) June 30, 2016: Short-term investments $ $ $ — $ — Forward contracts — — Total $ $ $ $ — December 31, 2015: Short-term investments $ $ $ — $ — Forward contracts — — Total $ $ $ $ — The Company does not have any significant financial or non-financial assets and liabilities that are measured at fair value on a non-recurring basis. The amount recognized in Accumulated other comprehensive income (loss) associated with foreign exchange rate forward contracts and the amount reclassified from Accumulated other comprehensive income (loss) to foreign exchange gain (loss) in the accompanying Condensed Consolidated Statements of Income during the six month periods ended June 30, 2016 and 2015 was not material. The fair value of the forward contracts are recorded within Other current assets, Other accrued expenses or Accrued pension benefit obligations and other long-term liabilities in the accompanying Condensed Consolidated Balance Sheets, depending on their value and remaining contractual period.

Income Taxes

Income Taxes	6 Months Ended
	Jun. 30, 2016
Income Taxes
Income Taxes	Note 15—Income Taxes The provision for income taxes for the second quarter and the first six months of 2016 was at an effective rate of 26.5% and 27.5%, respectively. Excluding the net impact of acquisition-related expenses incurred in the first quarter of 2016, the effective tax rate for the six months ended June 30, 2016 was 26.5%. The provision for income taxes for the second quarter and the first six months of 2015 was at an effective tax rate of 27.1% and 26.8%, respectively. Excluding the net impact of acquisition-related expenses incurred in the second quarter of 2015, the effective tax rate in both the second quarter and the first six months of 2015 was 26.5%. The Company operates in the U.S. and numerous foreign taxable jurisdictions, and at any point in time has numerous audits underway at various stages of completion. With few exceptions, the Company is subject to income tax examinations by tax authorities for the years 2011 and after. The Company is generally not able to precisely estimate the ultimate settlement amounts or timing until the close of an audit. The Company evaluates its tax positions and establishes liabilities for uncertain tax positions that may be challenged by local authorities and may not be fully sustained, despite the Company’s belief that the underlying tax positions are fully supportable. As of June 30, 2016, the amount of the liability for unrecognized tax benefits, which if recognized would impact the effective tax rate, was approximately $124.6, which is included in Accrued pension benefit obligations and other long-term liabilities in the accompanying Condensed Consolidated Balance Sheets. Unrecognized tax benefits are reviewed on an ongoing basis and are adjusted for changing facts and circumstances, including progress of tax audits and the closing of statutes of limitation. Based on information currently available, management anticipates that over the next twelve month period, audit activity could be completed and statutes of limitation may close relating to existing unrecognized tax benefits of approximately $2.9.

Inventories (Tables)

Inventories (Tables)	6 Months Ended
	Jun. 30, 2016
Inventories
Schedule of Inventories	June 30, 2016 December 31, 2015 Raw materials and supplies $ $ Work in process Finished goods $ $

Reportable Business Segments (T

Reportable Business Segments (Tables)	6 Months Ended
	Jun. 30, 2016
Reportable Business Segments
Schedule of segment reporting information by segment	Interconnect Products and Assemblies Cable Products and Solutions Total 2016 2015 2016 2015 2016 2015 Three months ended June 30: Net sales: External $ $ $ $ $ $ Intersegment Segment operating income Six months ended June 30: Net sales: External $ $ $ $ $ $ Intersegment Segment operating income
Schedule of the reconciliation of segment operating income to consolidated income before income taxes	Three months ended June 30, Six months ended June 30, 2016 2015 2016 2015 Segment operating income $ $ $ $ Interest expense ) ) ) ) Other income, net Stock-based compensation expense ) ) ) ) Acquisition-related expenses — ) ) ) Other operating expenses ) ) ) ) Income before income taxes $ $ $ $

Changes in Equity and Noncont25

Changes in Equity and Noncontrolling Interests (Tables)	6 Months Ended
	Jun. 30, 2016
Changes in Equity and Noncontrolling Interests
Rollforward of consolidated changes in equity	A rollforward of consolidated changes in equity for the six months ended June 30, 2016 is as follows: Amphenol Corporation Shareholders Common Stock Accumulated Other Shares (in millions) Amount Additional Paid- In Capital Retained Earnings Comprehensive Loss Treasury Stock Noncontrolling Interests Total Equity Balance as of December 31, 2015 $ $ $ $ ) $ — $ $ Net income Other comprehensive income (loss) ) Distributions to shareholders of noncontrolling interests ) ) Purchase of treasury stock ) ) Retirement of treasury stock ) ) — Stock options exercised, including tax benefit Dividends declared ) ) Stock-based compensation expense Balance as of June 30, 2016 $ $ $ $ ) $ — $ $ A rollforward of consolidated changes in equity for the six months ended June 30, 2015 is as follows: Amphenol Corporation Shareholders Common Stock Accumulated Other Shares (in millions) Amount Additional Paid- In Capital Retained Earnings Comprehensive Loss Treasury Stock Noncontrolling Interests Total Equity Balance as of December 31, 2014 $ $ $ $ ) $ — $ $ Net income Other comprehensive income (loss) ) ) Acquisition resulting in noncontrolling interest Distributions to shareholders of noncontrolling interests ) ) Purchase of treasury stock ) ) Retirement of treasury stock ) ) — Stock options exercised, including tax benefit Dividends declared ) ) Stock-based compensation expense Balance as of June 30, 2015 $ $ $ $ ) $ — $ $

Earnings Per Share (Tables)

Earnings Per Share (Tables)	6 Months Ended
	Jun. 30, 2016
Earnings Per Share
Schedule of the reconciliation of basic weighted average common shares outstanding to diluted weighted average common shares outstanding	A reconciliation of the basic weighted average common shares outstanding to diluted weighted average common shares outstanding for the three and six months ended June 30, 2016 and 2015 is as follows (dollars and shares in millions): Three months ended June 30, Six months ended June 30, 2016 2015 2016 2015 Net income attributable to Amphenol Corporation shareholders $ $ $ $ Basic weighted average common shares outstanding Effect of dilutive stock options Diluted weighted average common shares outstanding Earnings per share attributable to Amphenol Corporation shareholders: Basic $ $ $ $ Diluted $ $ $ $

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	6 Months Ended
	Jun. 30, 2016
Stock-Based Compensation
Schedule of stock option activity	Options Weighted Average Exercise Price Weighted Average Remaining Contractual Term (in years) Aggregate Intrinsic Value Options outstanding at January 1, 2016 $ $ Options granted Options exercised ) Options forfeited ) Options outstanding at March 31, 2016 Options granted Options exercised ) Options forfeited ) Options outstanding at June 30, 2016 Vested and non-vested options expected to vest at June 30, 2016 $ $ Exercisable options at June 30, 2016 $ $
Summary of status of non-vested options and changes during the year	Options Weighted Average Fair Value at Grant Date Non-vested options at January 1, 2016 $ Options granted Options vested ) Options forfeited ) Non-vested options at March 31, 2016 Options granted Options vested ) Options forfeited ) Non-vested options at June 30, 2016
Summary of activity in the option plans	Three months ended June 30, Six months ended June 30, 2016 2015 2016 2015 Total intrinsic value of stock options exercised $ $ $ $ Total fair value of stock options vested
Schedule of restricted share activity	Restricted Shares Fair Value at Grant Date Weighted Average Remaining Amortization Term (in years) Restricted shares outstanding at January 1, 2016 $ Restricted shares granted — — Restricted shares outstanding at March 31, 2016 Shares vested and issued ) Restricted shares granted Restricted shares outstanding at June 30, 2016

Benefit Plans and Other Postr28

Benefit Plans and Other Postretirement Benefits (Tables)	6 Months Ended
	Jun. 30, 2016
Benefit Plans and Other Postretirement Benefits
Schedule of components of net pension expense	Pension Benefits Other Postretirement Benefits 2016 2015 2016 2015 Three months ended June 30: Service cost $ $ $ — $ — Interest cost Expected return on plan assets ) ) — — Amortization of prior service cost — — Amortization of net actuarial losses Net pension expense $ $ $ $ Six months ended June 30: Service cost $ $ $ — $ — Interest cost Expected return on plan assets ) ) — — Amortization of prior service cost — — Amortization of net actuarial losses Net pension expense $ $ $ $

Acquisitions (Tables)

Acquisitions (Tables)	6 Months Ended
	Jun. 30, 2016
Acquisitions
Purchase price allocation	The following table summarizes the preliminary assessment of the estimated fair values of the identifiable assets acquired and liabilities assumed, net of cash acquired, as of the date of acquisition of January 8, 2016. Accounts receivable $ Inventories Other current assets Land and depreciable assets Goodwill Intangible assets Other long-term assets Assets acquired Accounts payable Other current liabilities Accrued pension benefit obligations and other long-term liabilities Liabilities assumed Net assets acquired $
Pro forma financial information	Three months ended June 30, Six months ended June 30, Pro forma: 2016 2015 2016 2015 Net sales $ $ $ $ Net income attributable to Amphenol Corporation Net income per common share - Diluted

Goodwill and Other Intangible30

Goodwill and Other Intangible Assets (Tables)	6 Months Ended
	Jun. 30, 2016
Goodwill and Other Intangible Assets
Schedule of changes in the carrying amount of goodwill by segment	Interconnect Products and Cable Products and Assemblies Solutions Total Goodwill at December 31, 2015 $ $ $ Acquisition-related — Foreign currency translation — Goodwill at June 30, 2016 $ $ $
Summary of the Company's amortizable intangible assets	June 30, 2016 December 31, 2015 Gross Carrying Amount Accumulated Amortization Net Carrying Amount Gross Carrying Amount Accumulated Amortization Net Carrying Amount Customer relationships $ $ $ $ $ $ Proprietary technology License agreements — — Backlog and other Total $ $ $ $ $ $

Debt (Tables)

Debt (Tables)	6 Months Ended
	Jun. 30, 2016
Debt
Schedule of Debt	June 30, 2016 December 31, 2015 Carrying Amount Approximate Fair Value Carrying Amount Approximate Fair Value Revolving Credit Facility (maximum aggregate principal amount of $2,000.0 and $1,500.0 as of June 30, 2016 and December 31, 2015, respectively) $ — $ — $ — $ — Commercial Paper Program (maximum aggregate principal amount of $2,000.0 and $1,500.0 as of June 30, 2016 and December 31, 2015, respectively) 1.55% Senior Notes due September 2017 2.55% Senior Notes due January 2019 3.125% Senior Notes due September 2021 4.00% Senior Notes due February 2022 Notes payable to foreign banks and other debt Less deferred debt issuance costs ) — ) — Total debt Less current portion Total long-term debt $ $ $ $

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
	Jun. 30, 2016
Fair Value Measurements
Fair values of financial and non-financial assets and liabilities	Fair Value Measurements Total Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) June 30, 2016: Short-term investments $ $ $ — $ — Forward contracts — — Total $ $ $ $ — December 31, 2015: Short-term investments $ $ $ — $ — Forward contracts — — Total $ $ $ $ —

Inventories (Details)

Inventories (Details) - USD ($) $ in Millions	Jun. 30, 2016	Dec. 31, 2015
Inventories
Raw materials and supplies	$ 310.2	$ 282.4
Work in process	321	290.5
Finished goods	295.4	278.9
Inventories	$ 926.6	$ 851.8

Reportable Business Segments (D

Reportable Business Segments (Details) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2016USD ($)segment	Jun. 30, 2015USD ($)	Jun. 30, 2016USD ($)segment	Jun. 30, 2015USD ($)
Segment reporting information
Number of reportable business segments | segment	2		2
Net sales	$ 1,548.2	$ 1,351.5	$ 2,999.4	$ 2,678.6
Segment operating income	300.3	260.7	539.8	520.9
Operating Segment
Segment reporting information
Net sales	1,548.2	1,351.5	2,999.4	2,678.6
Segment operating income	322.7	287.6	614.9	568.8
Operating Segment | Interconnect Products and Assemblies
Segment reporting information
Net sales	1,456	1,268.7	2,823.8	2,511.3
Segment operating income	309	277.9	590.1	548.8
Operating Segment | Cable Products and Solutions
Segment reporting information
Net sales	92.2	82.8	175.6	167.3
Segment operating income	13.7	9.7	24.8	20
Intersegment
Segment reporting information
Net sales	8.4	6.9	16.4	14.2
Intersegment | Interconnect Products and Assemblies
Segment reporting information
Net sales	1.9	1.9	3.5	4.1
Intersegment | Cable Products and Solutions
Segment reporting information
Net sales	$ 6.5	$ 5	$ 12.9	$ 10.1

Reportable Business Segments, R

Reportable Business Segments, Reconciliation of Segment Operating Income (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Reconciliation of segment operating income to consolidated income before income taxes
Segment operating income	$ 300.3	$ 260.7	$ 539.8	$ 520.9
Interest expense	(18)	(17.1)	(36.1)	(34.1)
Other income, net	1.7	4.2	2.7	8.3
Stock-based compensation expense	(11.7)	(10.1)	(23.2)	(20.2)
Acquisition-related expenses		(5.7)	(30.3)	(5.7)
Income before income taxes	284	247.8	506.4	495.1
Operating Segment
Reconciliation of segment operating income to consolidated income before income taxes
Segment operating income	322.7	287.6	614.9	568.8
Segment Reconciliation Items
Reconciliation of segment operating income to consolidated income before income taxes
Interest expense	(18)	(17.1)	(36.1)	(34.1)
Other income, net	1.7	4.2	2.7	8.3
Stock-based compensation expense	(11.7)	(10.1)	(23.2)	(20.2)
Acquisition-related expenses		(5.7)	(30.3)	(5.7)
Other operating expenses	(10.7)	(11.1)	(21.6)	(22)
Income before income taxes	$ 284	$ 247.8	$ 506.4	$ 495.1

Changes in Equity and Noncont36

Changes in Equity and Noncontrolling Interests (Details) - USD ($) shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Increase (Decrease) In Shareholders' Equity
Balance at beginning of period			$ 3,278.4	$ 2,937.9
Net income	$ 208.7	$ 180.6	367.2	362.4
Other comprehensive income (loss)	(32.2)	15.4	20.2	(50.3)
Acquisition resulting in noncontrolling interest				8
Distributions to shareholders of noncontrolling interests			(4.1)	(4.4)
Purchase of treasury stock			(108.4)	(143.6)
Stock options exercised, including tax benefit			83.7	50
Dividends declared	(43.2)	(38.6)	(86.3)	(77.4)
Stock-based compensation expense			23.2	20.2
Balance at end of period	$ 3,573.9	$ 3,102.8	$ 3,573.9	$ 3,102.8
Common Stock
Increase (Decrease) In Shareholders' Equity
Balance (in shares)			308	309.9
Balance at beginning of period			$ 0.3	$ 0.3
Retirement of treasury stock (in shares)			(2)	(2.5)
Stock options exercised, including tax benefit (in shares)			2.6	1.6
Balance (in shares)	308.6	309	308.6	309
Balance at end of period	$ 0.3	$ 0.3	$ 0.3	$ 0.3
Additional Paid-In Capital
Increase (Decrease) In Shareholders' Equity
Balance at beginning of period			783.3	659.4
Stock options exercised, including tax benefit			83.7	50
Stock-based compensation expense			23.2	20.2
Balance at end of period	890.2	729.6	890.2	729.6
Retained Earnings
Increase (Decrease) In Shareholders' Equity
Balance at beginning of period			2,804.4	2,453.5
Net income			363.2	358.8
Retirement of treasury stock			(108.4)	(143.6)
Dividends declared			(86.3)	(77.4)
Balance at end of period	2,972.9	2,591.3	2,972.9	2,591.3
Accumulated Other Comprehensive Loss
Increase (Decrease) In Shareholders' Equity
Balance at beginning of period			(349.5)	(205.8)
Other comprehensive income (loss)			20.7	(50.3)
Balance at end of period	(328.8)	(256.1)	(328.8)	(256.1)
Treasury Stock
Increase (Decrease) In Shareholders' Equity
Purchase of treasury stock			(108.4)	(143.6)
Retirement of treasury stock			108.4	143.6
Noncontrolling Interests
Increase (Decrease) In Shareholders' Equity
Balance at beginning of period			39.9	30.5
Net income			4	3.6
Other comprehensive income (loss)			(0.5)
Acquisition resulting in noncontrolling interest				8
Distributions to shareholders of noncontrolling interests			(4.1)	(4.4)
Balance at end of period	$ 39.3	$ 37.7	$ 39.3	$ 37.7

Earnings Per Share (Details)

Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Earnings Per Share
Net income attributable to Amphenol Corporation shareholders	$ 206.5	$ 179	$ 363.2	$ 358.8
Basic weighted average common shares outstanding	308.2	308.9	307.9	309.5
Effect of dilutive stock options (in shares)	7.2	8	6.9	7.9
Diluted weighted average common shares outstanding	315.4	316.9	314.8	317.4
Earnings per share attributable to Amphenol Corporation shareholders:
Basic (in dollars per share)	$ 0.67	$ 0.58	$ 1.18	$ 1.16
Diluted (in dollars per share)	$ 0.65	$ 0.56	$ 1.15	$ 1.13
Anti-dilutive stock options, excluded from the computations of earning per share	8.2	1.7	10	2.7

Stock-Based Compensation (Detai

Stock-Based Compensation (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended			6 Months Ended		12 Months Ended
	Jun. 30, 2016	Mar. 31, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015	Dec. 31, 2015
Stock-Based Compensation
Expense incurred for stock-based compensation plans	$ 11.7		$ 10.1	$ 23.2	$ 20.2
Expense incurred for stock-based compensation plans, net of tax	$ 8.9		7.6	$ 17.7	15.1
2000 Employee Option Plan
Stock-Based Compensation
Number of additional stock options that can be granted (in shares)				0
Options exercisable period				10 years
2009 Employee Option Plan
Stock-Based Compensation
Common Stock reserved for issuance	58,000,000			58,000,000
Shares available for the granting of additional stock options	11,965,910			11,965,910
Options exercisable period				10 years
Options ratable vesting period				5 years
2004 Directors Option Plan
Stock-Based Compensation
Shares available for the granting of additional stock options	140,000			140,000
Options exercisable period				10 years
Number of additional stock options expected to be granted (in shares)	0			0
Stock Options
Stock option activity
Options outstanding at the beginning of the period (in shares)	30,681,955	31,136,475		31,136,475
Options granted (in shares)	7,138,450	245,000
Options exercised (in shares)	(1,951,432)	(650,840)
Options forfeited (in shares)	(389,400)	(48,680)
Options outstanding at the end of the period (in shares)	35,479,573	30,681,955		35,479,573		31,136,475
Vested and non-vested options expected to vest at the end of the period (in shares)	33,088,422			33,088,422
Exercisable at the end of the period (in shares)	16,569,063			16,569,063
Weighted Average Exercise Price
Weighted average exercise price, options outstanding at the beginning of the period (in dollars per share)	$ 37.97	$ 37.62		$ 37.62
Weighted average exercise price, options outstanding at the end of the period (in dollars per share)	42.52	$ 37.97		42.52		$ 37.62
Weighted average exercise price, vested and non-vested options expected to vest (in dollars per share)	41.88			41.88
Weighted average exercise price, exercisable (in dollars per share)	$ 31.50			$ 31.50
Weighted Average Remaining Contractual Term
Weighted average remaining contractual term of options outstanding	7 years 3 months 7 days	6 years 9 months				6 years 11 months 1 day
Weighted average remaining contractual term of options vested options and non-vested expected to vest	7 years 2 months 1 day
Weighted average remaining contractual term of options exercisable	5 years 7 months 10 days
Aggregate Intrinsic Value
Aggregate intrinsic value of options outstanding	$ 534.2	$ 609.9		$ 534.2		$ 491
Aggregate intrinsic value of options, vested and non-vested options expected to vest	518.8			518.8
Aggregate intrinsic value of options exercisable	$ 428.8			$ 428.8
Status of the Company's non-vested options and changes during the year
Non-vested options at the beginning of the period (in shares)	17,474,960	17,323,040		17,323,040
Non-vested options, options granted (in shares)	7,138,450	245,000
Non-vested options, options vested (in shares)	(5,313,500)	(44,400)
Non-vested options, options forfeited (in shares)	(389,400)	(48,680)
Non-vested options at the end of the period (in shares)	18,910,510	17,474,960		18,910,510		17,323,040
Weighted Average Fair Value at Grant Date
Weighted average fair value at the grant date, options outstanding at the beginning of the period (in dollars per share)	$ 8.22	$ 8.24		$ 8.24
Weighted average fair value at grant date, options granted (in dollars per share)	7.40	6.98
Weighted average fair value at grant date, options vested (in dollars per share)	7.91	9.82
Weighted average fair value at grant date, options forfeited (in dollars per share)	8.33	8.38
Weighted average fair value at the grant date, options outstanding at the end of the period (in dollars per share)	$ 7.99	$ 8.22		$ 7.99		$ 8.24
Fair Value at Grant Date
Total intrinsic value of stock options exercised	$ 62		32	$ 82.6	57.9
Total fair value of stock options vested	42.1		$ 39.1	42.5	$ 39.4
Total compensation cost related to non-vested options not yet recognized	133.3			$ 133.3
Weighted average expected amortization period				3 years 8 months 1 day
Restricted Shares
Fair Value at Grant Date
Total compensation cost related to non-vested restricted shares not yet recognized	$ 0.9			$ 0.9
Weighted average expected amortization period				10 months 24 days
Restricted Shares | 2012 Directors Restricted Stock Plan
Stock-Based Compensation
Shares available for the granting of additional stock options	137,069			137,069
Restricted share activity
Restricted shares outstanding at the beginning of the period (in shares)	17,256	17,256		17,256
Shares vested and issued (in shares)	(17,256)
Restricted shares granted	16,905
Restricted shares outstanding at the end of the period (in shares)	16,905	17,256		16,905		17,256
Fair Value at Grant Date
Fair value at the grant date, restricted shares outstanding at the beginning of the period (in dollars per share)	$ 57.97	$ 57.97		$ 57.97
Fair value of restricted shares vested and issued (in dollar per share)	57.97
Fair value of restricted shares granted (in dollars per share)	57.99
Fair value at the grant date, restricted shares outstanding at the end of the period (in dollars per share)	$ 57.99	$ 57.97		$ 57.99		$ 57.97
Weighted Average Remaining Amortization Term (in years)		1 month 24 days		10 months 24 days		4 months 21 days

Shareholders' Equity (Details)

Shareholders' Equity (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	1 Months Ended		3 Months Ended		6 Months Ended
	Jul. 29, 2016	Jan. 31, 2015	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015	Sep. 30, 2015
Shareholders' Equity
Quarterly dividend approved by Board prior to payment, per share (in dollars per share)				$ 0.125		$ 0.125	$ 0.14
Dividends paid			$ 43	$ 0	$ 86.3	$ 77.5
Dividends declared			$ 43.2	$ 38.6	$ 86.3	$ 77.4
2015 Stock Repurchase Program
Shareholders' Equity
Number of shares authorized to be repurchased under the current open-market stock repurchase program		10
Repurchase of stock program, period		2 years
Number of shares repurchased under the current open-market stock repurchase program					2
Number of shares repurchased under the current open-market stock repurchase program	0.7
Payments for shares repurchased under the current open-market stock repurchase program (in dollars)					$ 108.4
Payments for shares repurchased under the current open-market stock repurchase program (in dollars)	$ 42.2
Number of shares remaining that may be repurchased under the stock repurchase program	2.8

Benefit Plans and Other Postr40

Benefit Plans and Other Postretirement Benefits (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Summary of the defined benefit pension plans and other post-retirement benefits
Contributions to U.S. defined contribution plans by the Company, maximum percentage of eligible compensation			5.00%
Matching contributions to U.S. defined contribution plans by the Company			$ 2.2	$ 2.2
Pension Benefits
Summary of the defined benefit pension plans and other post-retirement benefits
Service cost	$ 2.3	$ 2.3	4.6	4.7
Interest cost	4.8	5.8	10.6	11.6
Expected return on plan assets	(7.7)	(7.3)	(15.2)	(14.6)
Amortization of prior service cost	0.5	0.6	1.1	1.2
Amortization of net actuarial losses	4.9	6.5	11.2	12.9
Net pension expense	4.8	7.9	12.3	15.8
U.S. plans, Pension Benefits
Summary of the defined benefit pension plans and other post-retirement benefits
Estimated cash contribution to the Plans in 2016 based on current actuarial calculations			22
Other Postretirement Benefits
Summary of the defined benefit pension plans and other post-retirement benefits
Interest cost	0.1	0.1	0.2	0.2
Amortization of net actuarial losses	0.2	0.1	0.3	0.2
Net pension expense	$ 0.3	$ 0.2	$ 0.5	$ 0.4

Acquisitions (Details)

Acquisitions (Details) - USD ($) $ in Millions	Jan. 08, 2016	Jun. 30, 2016	Mar. 31, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015	Dec. 31, 2015
Acquisitions
Purchase price, net of cash acquired					$ 1,185.8	$ 171.8
Acquisition-related expenses				$ 5.7	30.3	$ 5.7
Foreign exchange negative impact on net sales		$ 9			$ 28.4
Net sales increased, compared to prior year quarter, excluding the impact of foreign exchange and acquisitions (as a percent)		4.00%			1.00%
Allocation of Purchase price
Goodwill		$ 3,641.7			$ 3,641.7		$ 2,692.9
Finite-lived acquired intangible assets weighted-average useful life					10 years
Proprietary technology
Allocation of Purchase price
Finite-lived acquired intangible assets weighted-average useful life					11 years
Customer relationships
Allocation of Purchase price
Finite-lived acquired intangible assets weighted-average useful life					10 years
FCI Asia Pte Ltd ("FCI")
Acquisitions
Purchase price, net of cash acquired	$ 1,178.6
Acquisition-related expenses			$ 30.3	5.7
Acquisition-related expenses, net of tax			$ 27.3	$ 5.7
Allocation of Purchase price
Accounts receivable	97.1
Inventories	65.8
Other current assets	13.4
Land and depreciable assets	78.2
Goodwill	933.1
Intangible assets	252
Other long-term assets	13
Assets acquired	1,452.6
Accounts payable	61.6
Other current liabilities	55
Accrued pension benefit obligations and other long-term liabilities	157.4
Liabilities assumed	274
Net assets acquired	1,178.6
Finite-lived acquired intangibles	$ 118.2
Finite-lived acquired intangible assets weighted-average useful life	10 years
Goodwill deductible for tax purposes	$ 91.9
FCI Asia Pte Ltd ("FCI") | Proprietary technology
Allocation of Purchase price
Finite-lived acquired intangibles	$ 53.2
Finite-lived acquired intangible assets weighted-average useful life	9 years
FCI Asia Pte Ltd ("FCI") | Customer relationships
Allocation of Purchase price
Finite-lived acquired intangibles	$ 57
Finite-lived acquired intangible assets weighted-average useful life	12 years
FCI Asia Pte Ltd ("FCI") | Backlog
Allocation of Purchase price
Finite-lived acquired intangibles	$ 8
Finite-lived acquired intangible assets weighted-average useful life	3 months
FCI Asia Pte Ltd ("FCI") | Tradenames
Allocation of Purchase price
Trade names not subject to amortization	$ 133.8

Acquisitions, Pro Forma Financi

Acquisitions, Pro Forma Financial Information (Details) - FCI Asia Pte Ltd ("FCI") - USD ($) $ / shares in Units, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Pro forma adjustments
Net sales	$ 1,548.2	$ 1,495.2	$ 3,009.1	$ 2,963.7
Net income attributable to Amphenol Corporation	$ 206.5	$ 191.9	$ 390.7	$ 380.1
Net income per common share - Diluted	$ 0.65	$ 0.61	$ 1.24	$ 1.20
Acquisition-related costs included in reported results, but excluded from pro forma amounts
Pro forma adjustments
Net income attributable to Amphenol Corporation	$ 0	$ 5.7	$ 27.3	$ 5.7
Amortization expense related to acquired intangible assets not reflected in historical results, but included in pro forma amounts
Pro forma adjustments
Net income attributable to Amphenol Corporation		2.2		4.4
Interest income of funds used to fund the acquisition included in historical results, but excluded from pro forma amounts
Pro forma adjustments
Net income attributable to Amphenol Corporation		2.9		5.8
Other expense (income) included in historical results, but excluded from pro forma amounts
Pro forma adjustments
Net income attributable to Amphenol Corporation		$ 2.1		$ (1.7)

Goodwill and Other Intangible43

Goodwill and Other Intangible Asset (Details) $ in Millions	6 Months Ended
	Jun. 30, 2016USD ($)
Goodwill.
Goodwill, Beginning Balance	$ 2,692.9
Acquisition-related	939.3
Foreign currency translation	9.5
Goodwill, Ending Balance	3,641.7
Interconnect Products and Assemblies
Goodwill.
Goodwill, Beginning Balance	2,569.2
Acquisition-related	939.3
Foreign currency translation	9.5
Goodwill, Ending Balance	3,518
Cable Products and Solutions
Goodwill.
Goodwill, Beginning Balance	123.7
Goodwill, Ending Balance	$ 123.7

Goodwill and Other Intangible44

Goodwill and Other Intangible Asset, Amortization (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015	Dec. 31, 2015
Summary of the Company's amortizable intangible assets
Indefinite-lived trade name intangible asset	$ 186.1		$ 186.1		$ 52.3
Gross Carrying Amount	512.9		512.9		395.1
Accumulated Amortization	210.1		210.1		178.7
Net Carrying Amount	302.8		$ 302.8		216.4
Weighted average useful lives of acquired amortizable intangible assets			10 years
Amortization expense	11.4	$ 8.4	$ 31.1	$ 16.7
Amortization expense estimated for each of the next five fiscal years
Remainder of 2016	22.8		22.8
2,017	45.8		45.8
2,018	41.7		41.7
2,019	37.6		37.6
2,020	31.4		31.4
2,021	26.6		26.6
Customer relationships
Summary of the Company's amortizable intangible assets
Gross Carrying Amount	372.2		372.2		315.6
Accumulated Amortization	140.7		140.7		122.6
Net Carrying Amount	231.5		$ 231.5		193
Weighted average useful lives of acquired amortizable intangible assets			10 years
Proprietary technology
Summary of the Company's amortizable intangible assets
Gross Carrying Amount	106.7		$ 106.7		53.8
Accumulated Amortization	35.9		35.9		30.9
Net Carrying Amount	70.8		$ 70.8		22.9
Weighted average useful lives of acquired amortizable intangible assets			11 years
License agreements
Summary of the Company's amortizable intangible assets
Gross Carrying Amount	6		$ 6		6
Accumulated Amortization	6		$ 6		6
Weighted average useful lives of acquired amortizable intangible assets			8 years
Backlog and other
Summary of the Company's amortizable intangible assets
Gross Carrying Amount	28		$ 28		19.7
Accumulated Amortization	27.5		27.5		19.2
Net Carrying Amount	$ 0.5		$ 0.5		$ 0.5
Weighted average useful lives of acquired amortizable intangible assets			1 year

Debt (Details)

Debt (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2016	Apr. 01, 2016	Mar. 31, 2016	Mar. 01, 2016	Dec. 31, 2015
Debt
Less deferred debt issuance costs	$ (14.3)				$ (13.3)
Total debt	2,834.9				2,813.5
Less current portion	0.3				0.3
Total long-term debt	2,834.6				2,813.2
Total debt, Approximate Fair Value	2,921.8				2,828.5
Less short-term debt, Approximate Fair Value	0.3				0.3
Long-term debt, Approximate Fair Value	2,921.5				2,828.2
1.55% Senior Notes due September 2017
Debt
Carrying Amount	374.8				374.8
Total debt, Approximate Fair Value	$ 376.9				$ 373.2
Stated interest rate (as a percent)	1.55%				1.55%
2.55% Senior Notes due January 2019
Debt
Carrying Amount	$ 749.4				$ 749.2
Total debt, Approximate Fair Value	$ 764.8				$ 750.1
Stated interest rate (as a percent)	2.55%				2.55%
3.125% Senior Notes due September 2021
Debt
Carrying Amount	$ 374.8				$ 374.7
Total debt, Approximate Fair Value	$ 390				$ 367.7
Stated interest rate (as a percent)	3.125%				3.125%
4.00% Senior Notes due February 2022
Debt
Carrying Amount	$ 499.3				$ 499.2
Total debt, Approximate Fair Value	$ 539.2				$ 508.6
Stated interest rate (as a percent)	4.00%				4.00%
Revolving Credit Facility
Debt
Maximum borrowing capacity	$ 2,000				$ 1,500
Revolving Credit Facility | 2016 Revolving Credit Facility
Debt
Increases in aggregate commitments				$ 500
Borrowings under the Revolving Credit Facility	0
Commercial Paper Program
Debt
Carrying Amount	845.2				823.9
Total debt, Approximate Fair Value	845.2				823.9
Maximum borrowing capacity	$ 2,000	$ 2,000	$ 1,500		1,500
Increases in aggregate commitments		$ 500
Maximum maturity term	397 days
Average Interest Rate (as a percent)	0.81%
Senior Notes
Debt
Redemption price as a percentage of principal amount	100.00%
Notes payable to foreign banks and other debt
Debt
Carrying Amount	$ 5.7				5
Total debt, Approximate Fair Value	$ 5.7				$ 5

Fair Value Measurements (Detail

Fair Value Measurements (Details) - USD ($) $ in Millions	Jun. 30, 2016	Dec. 31, 2015
Fair value of assets and liabilities measured on recurring basis
Short-term investments	$ 30.7	$ 23.2
Forward contracts	7	3.3
Total	37.7	26.5
Fair value measurements recurring basis | Level 1
Fair value of assets and liabilities measured on recurring basis
Short-term investments	30.7	23.2
Total	30.7	23.2
Fair value measurements recurring basis | Level 2
Fair value of assets and liabilities measured on recurring basis
Forward contracts	7	3.3
Total	$ 7	$ 3.3

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Income Taxes
Effective tax rate (as a percent)	26.50%	27.10%	27.50%	26.80%
Effective tax rate excluding the net impact of acquisition-related expenses (as a percent)	26.50%	26.50%	26.50%	26.50%
Unrecognized tax benefits, anticipated adjustment for changing facts and circumstances, over the next twelve month period	$ 2.9		$ 2.9
Accrued pension benefit obligations and other long-term liabilities
Income Taxes
Liability for unrecognized tax benefits, which if recognized would impact the effective tax rate	$ 124.6		$ 124.6