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Shareholders' Equity and Noncontrolling Interests | 6 Months Ended
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Jun. 30, 2021
Shareholders' Equity and Noncontrolling Interests |
Shareholders' Equity and Noncontrolling Interests | Note 7—Shareholders’ Equity and Noncontrolling Interests ​ Net income from continuing operations attributable to noncontrolling interests is classified below net income from continuing operations. 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 three months ended June 30, 2021 is as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Amphenol Corporation Shareholders
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Accumulated | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Common Stock | ​ | Treasury Stock | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Other | ​ | ​ | ​ | ​ | ​ | ​
​ |  | Shares | ​ | ​ | ​ | ​ | Shares | ​ | ​ | ​ | ​ | Additional | ​ | Retained | ​ | Comprehensive | ​ | Noncontrolling | ​ | Total
​ | ​ | (in millions) |  | Amount |  | (in millions) |  | Amount |  | Paid-In Capital |  | Earnings |  | Loss |  | Interests |  | Equity
​ |  | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Balance as of March 31, 2021 | ​ | 599.2 |  | $ | 0.6 |  | (2.1) |  | $ | (117.4) |  | $ | 2,105.7 |  | $ | 3,807.1 |  | $ | (335.0) |  | $ | 60.7 |  | $ | 5,521.7
Net income | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ |  | 369.8 | ​ | ​ | ​ | ​ |  | 1.8 | ​ |  | 371.6
Other comprehensive income (loss) | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ |  | 34.7 | ​ |  | 1.0 | ​ |  | 35.7
Distributions to shareholders of noncontrolling interests | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ |  | (0.7) | ​ |  | (0.7)
Purchase of treasury stock | ​ | ​ | ​ | ​ | ​ | ​ | (2.5) | ​ |  | (167.3) | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ |  | (167.3)
Retirement of treasury stock |  | (2.5) | ​ | ​ | — | ​ | 2.5 | ​ |  | 167.3 | ​ | ​ | ​ | ​ |  | (167.3) | ​ | ​ | ​ | ​ | ​ | ​ | ​ |  | —
Stock options exercised |  | 2.6 | ​ | ​ | — | ​ | 0.3 | ​ | ​ | 17.3 | ​ |  | 73.2 | ​ | ​ | (6.6) | ​ | ​ | ​ | ​ | ​ | ​ | ​ |  | 83.9
Dividends declared ($0.145 per common share) | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ |  | (86.6) | ​ | ​ | ​ | ​ | ​ | ​ | ​ |  | (86.6)
Stock-based compensation expense | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ |  | 20.0 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ |  | 20.0
Balance as of June 30, 2021 |  | 599.3 | ​ | $ | 0.6 | ​ | (1.8) | ​ | $ | (100.1) | ​ | $ | 2,198.9 | ​ | $ | 3,916.4 | ​ | $ | (300.3) | ​ | $ | 62.8 | ​ | $ | 5,778.3
​ A rollforward of consolidated changes in equity for the six months ended June 30, 2021 is as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Amphenol Corporation Shareholders
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Accumulated | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Common Stock | ​ | Treasury Stock | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Other | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Shares | ​ | ​ | ​ | ​ | Shares | ​ | ​ | ​ | ​ | Additional | ​ | Retained | ​ | Comprehensive | ​ | Noncontrolling | ​ | Total
​ |  | (in millions) |  | Amount |  | (in millions) |  | Amount |  | Paid-In Capital |  | Earnings |  | Loss |  | Interests |  | Equity
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Balance as of December 31, 2020 |  | 600.7 |  | $ | 0.6 |  | (2.0) |  | $ | (111.1) |  | $ | 2,068.1 |  | $ | 3,705.4 |  | $ | (278.1) |  | $ | 67.0 |  | $ | 5,451.9
Net income | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ |  | 699.3 | ​ | ​ | ​ | ​ |  | 4.0 | ​ |  | 703.3
Other comprehensive income (loss) | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ |  | (22.2) | ​ |  | 0.8 | ​ |  | (21.4)
Acquisitions resulting in noncontrolling interest | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ |  | 1.8 | ​ |  | 1.8
Purchase of noncontrolling interest | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | 2.5 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | (7.3) | ​ | ​ | (4.8)
Distributions to shareholders of noncontrolling interests | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ |  | (3.5) | ​ |  | (3.5)
Purchase of treasury stock | ​ | ​ | ​ | ​ | ​ | ​ | (4.9) | ​ |  | (320.1) | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ |  | (320.1)
Retirement of treasury stock |  | (4.6) | ​ | ​ | — | ​ | 4.6 | ​ |  | 300.3 | ​ | ​ | ​ | ​ |  | (300.3) | ​ | ​ | ​ | ​ | ​ | ​ | ​ |  | —
Stock options exercised |  | 3.2 | ​ | ​ | — | ​ | 0.5 | ​ | ​ | 30.8 | ​ |  | 89.3 | ​ | ​ | (14.8) | ​ | ​ | ​ | ​ | ​ | ​ | ​ |  | 105.3
Dividends declared ($0.29 per common share) | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ |  | (173.2) | ​ | ​ | ​ | ​ | ​ | ​ | ​ |  | (173.2)
Stock-based compensation expense | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ |  | 39.0 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ |  | 39.0
Balance as of June 30, 2021 |  | 599.3 |  | $ | 0.6 |  | (1.8) |  | $ | (100.1) |  | $ | 2,198.9 |  | $ | 3,916.4 |  | $ | (300.3) |  | $ | 62.8 |  | $ | 5,778.3
​ A rollforward of consolidated changes in equity for the three months ended June 30, 2020 is as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Amphenol Corporation Shareholders
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Accumulated | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Common Stock | ​ | Treasury Stock | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Other | ​ | ​ | ​ | ​ | ​ | ​
​ |  | Shares | ​ | ​ | ​ | ​ | Shares | ​ | ​ | ​ | ​ | Additional | ​ | Retained | ​ | Comprehensive | ​ | Noncontrolling | ​ | Total
​ |  | (in millions) |  | Amount |  | (in millions) |  | Amount |  | Paid-In Capital |  | Earnings |  | Loss |  | Interests |  | Equity
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Balance as of March 31, 2020 | ​ | 593.2 |  | $ | 0.6 |  | (1.4) |  | $ | (58.5) |  | $ | 1,720.3 |  | $ | 3,248.5 |  | $ | (525.1) |  | $ | 59.9 |  | $ | 4,445.7
Net income | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ |  | 257.7 | ​ | ​ | ​ | ​ |  | 2.8 | ​ |  | 260.5
Other comprehensive income (loss) | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ |  | 30.5 | ​ |  | 0.3 | ​ |  | 30.8
Acquisitions resulting in noncontrolling interest | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ |  | 0.3 | ​ |  | 0.3
Distributions to shareholders of noncontrolling interests | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ |  | (1.6) | ​ |  | (1.6)
Purchase of treasury stock | ​ | ​ | ​ | ​ | ​ | ​ | — | ​ |  | — | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ |  | —
Retirement of treasury stock |  | — | ​ | ​ | — | ​ | — | ​ |  | — | ​ | ​ | ​ | ​ |  | — | ​ | ​ | ​ | ​ | ​ | ​ | ​ |  | —
Stock options exercised |  | 3.9 | ​ | ​ | — | ​ | 0.9 | ​ | ​ | 37.5 | ​ |  | 97.3 | ​ | ​ | (12.2) | ​ | ​ | ​ | ​ | ​ | ​ | ​ |  | 122.6
Dividends declared ($0.125 per common share) |  | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ |  | (74.6) | ​ | ​ | ​ | ​ | ​ | ​ | ​ |  | (74.6)
Stock-based compensation expense | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ |  | 16.6 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ |  | 16.6
Balance as of June 30, 2020 | ​ | 597.1 | ​ | $ | 0.6 | ​ | (0.5) | ​ | $ | (21.0) | ​ | $ | 1,834.2 | ​ | $ | 3,419.4 | ​ | $ | (494.6) | ​ | $ | 61.7 | ​ | $ | 4,800.3
​ A rollforward of consolidated changes in equity for the six months ended June 30, 2020 is as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Amphenol Corporation Shareholders
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Accumulated | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Common Stock | ​ | Treasury Stock | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Other | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Shares | ​ | ​ | ​ | ​ | Shares | ​ | ​ | ​ | ​ | Additional | ​ | Retained | ​ | Comprehensive | ​ | Noncontrolling | ​ | Total
​ |  | (in millions) |  | Amount |  | (in millions) |  | Amount |  | Paid-In Capital |  | Earnings |  | Loss |  | Interests |  | Equity
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Balance as of December 31, 2019 |  | 597.4 |  | $ | 0.6 |  | (1.6) |  | $ | (70.8) |  | $ | 1,683.0 |  | $ | 3,348.4 |  | $ | (430.9) |  | $ | 65.9 |  | $ | 4,596.2
Cumulative effect of adoption of credit loss standard (ASU 2016-13) | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | (3.8) | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | (3.8)
Net income | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ |  | 499.8 | ​ | ​ | ​ | ​ |  | 3.9 | ​ |  | 503.7
Other comprehensive income (loss) | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ |  | (63.7) | ​ | ​ | (0.8) | ​ |  | (64.5)
Acquisitions resulting in noncontrolling interest | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ |  | 0.3 | ​ |  | 0.3
Purchase of noncontrolling interest | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | (2.1) | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | (5.2) | ​ | ​ | (7.3)
Distributions to shareholders of noncontrolling interests | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ |  | (2.4) | ​ |  | (2.4)
Purchase of treasury stock | ​ | ​ | ​ | ​ | ​ | ​ | (5.4) | ​ |  | (257.2) | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ |  | (257.2)
Retirement of treasury stock |  | (5.4) | ​ | ​ | — | ​ | 5.4 | ​ |  | 257.2 | ​ | ​ | ​ | ​ |  | (257.2) | ​ | ​ | ​ | ​ | ​ | ​ | ​ |  | —
Stock options exercised |  | 5.1 | ​ | ​ | — | ​ | 1.1 | ​ | ​ | 49.8 | ​ |  | 121.3 | ​ | ​ | (19.2) | ​ | ​ | ​ | ​ | ​ | ​ | ​ |  | 151.9
Dividends declared ($0.25 per common share) | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ |  | (148.6) | ​ | ​ | ​ | ​ | ​ | ​ | ​ |  | (148.6)
Stock-based compensation expense | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ |  | 32.0 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ |  | 32.0
Balance as of June 30, 2020 |  | 597.1 |  | $ | 0.6 |  | (0.5) |  | $ | (21.0) |  | $ | 1,834.2 |  | $ | 3,419.4 |  | $ | (494.6) |  | $ | 61.7 |  | $ | 4,800.3
​ Authorized Shares for Issuance ​ On May 19, 2021, the Company’s stockholders approved an amendment to the Company’s certificate of incorporation, which increased the total number of shares of Class A Common Stock, $0.001 par value (“Common Stock”) that the Company is authorized to issue to 2,000,000,000 shares, an increase of 1,000,000,000 shares from the amount previously authorized. The amendment was filed and became effective on May 21, 2021. ​ Stock Repurchase Programs ​ On April 24, 2018, the Company’s Board of Directors authorized a stock repurchase program under which the Company could purchase up to $2,000.0 of the Company’s Common Stock during the three-year period ending April 24, 2021 (the “2018 Stock Repurchase Program”) in accordance with the requirements of Rule 10b-18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). During the three and six months ended June 30, 2021, the Company repurchased 0.8 million and 3.1 million shares of its Common Stock for $51.0 and $203.8, respectively, under the 2018 Stock Repurchase Program. As a result of these purchases, the Company completed all purchases authorized under the 2018 Stock Repurchase Program and, therefore, the 2018 Stock Repurchase Program has terminated. Of the total repurchases made during the first six months of 2021, 0.3 million shares, or $19.8, have been retained in Treasury stock at the time of repurchase; the remaining 2.8 million shares, or $184.0, have been retired by the Company. The Company did no t repurchase any of its Common Stock during the three months ended June 30, 2020. During the six months ended June 30, 2020, the Company repurchased 5.4 million shares of its Common Stock for $257.2 under the 2018 Stock Repurchase Program. All of the shares repurchased during the first six months of 2020 were retired by the Company. ​ On April 27, 2021, the Company’s Board of Directors authorized a new stock repurchase program under which the Company may purchase up to $2,000.0 of the Company’s Common Stock during the three-year period ending April 27, 2024 (the “2021 Stock Repurchase Program”) in accordance with the requirements of Rule 10b-18 of the Exchange Act. During the three months ended June 30, 2021, the Company repurchased 1.7 million shares of its Common Stock for $116.3 under the 2021 Stock Repurchase Program. All of the shares repurchased under the 2021 Stock Repurchase Program during the second quarter of 2021 have been or will be retired by the Company. From July 1, 2021 to July 27, 2021, the Company repurchased 0.7 million additional shares of its Common Stock for $48.8 under the 2021 Stock Repurchase Program, and has remaining authorization to purchase up to $1,834.9 of its Common Stock under the 2021 Stock Repurchase Program. The price and timing of any future purchases under the 2021 Stock Repurchase Program will depend on a number of factors such as levels of cash generation from operations, the volume of stock option exercises by employees, cash requirements for acquisitions, dividends paid, economic and market conditions and the price of the Company’s common stock. ​ Dividends ​ Contingent upon declaration by the Company’s Board of Directors, the Company pays a quarterly dividend on shares of its Common Stock. The following table summarizes the dividends declared and paid for the three and six months ended June 30, 2021 and 2020: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Three Months Ended June 30, | ​ | Six Months Ended June 30, | ​
​ |  | 2021 | ​ | 2020 | ​ | 2021 | ​ | 2020 | ​
Dividends declared | ​ | $ | 86.6 | ​ | $ | 74.6 | ​ | $ | 173.2 | ​ | $ | 148.6 | ​
Dividends paid (including those declared in the prior year) | ​ |  | 86.6 | ​ |  | 74.0 | ​ |  | 173.4 | ​ |  | 148.4 | ​
​ On October 20, 2020, the Company’s Board of Directors approved an increase to its quarterly dividend rate from $0.125 per share to $0.145 per share effective with dividends declared in the fourth quarter of 2020 and contingent upon declaration by the Company’s Board of Directors.

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- Definition The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08(e)(1)) -URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.3-04) -URI http://asc.fasb.org/extlink&oid=120397183&loc=d3e187085-122770 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -URI http://asc.fasb.org/topic&trid=2208762 + Details
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