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Commitments and Contingencies | 9 Months Ended
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Sep. 30, 2016
Commitments and Contingencies |
Commitments and Contingencies | 10.Commitments and Contingencies Legal Lawsuits, claims and proceedings of a nature considered normal to its businesses may be pending from time to time against the Company. The Company believes the outcome of these proceedings, individually and in the aggregate, will not have a material impact on the Company’s financial position or results of operations. As of September 30, 2016 and December 31, 2015, accruals recorded for such potential contingencies were immaterial to the unaudited condensed consolidated financial statements. The Korea Fair Trade Commission (“KFTC”) has conducted an investigation into improper bidding by Bruker Korea Co., Ltd. and several other companies in connection with bids for sales of X-ray systems in 2010 and 2012. Three of the bids under investigation involved Bruker Korea. The Company cooperated fully with the KFTC regarding this matter. In September 2016, the KFTC fined Bruker Korea approximately $15,000 and referred the matter for criminal prosecution. The potential range of penalties which may arise as a result of any criminal or other proceedings which may be brought by other Korean government agencies against the Company or its subsidiaries operating in Korea involving this matter could include the imposition of a criminal fine and a suspension of all or a portion of the Company’s operations from bidding for or conducting sales to Korean governmental agencies for a period of time. At this time the Company cannot reasonably assess the timing or outcome of these matters or their effect, if any, on the Company’s business or results of operations. Sales to customers in Korea were approximately 2% of the Company’s revenue for the year ended December 31, 2015. Letters of Credit and Guarantees At September 30, 2016 and December 31, 2015, the Company had bank guarantees of $130.9 million and $137.7 million, respectively, related primarily to customer advances. These arrangements guarantee the refund of advance payments received from customers in the event that the merchandise is not delivered or warranty obligations are not fulfilled in compliance with the terms of the contract. These guarantees affect the availability of the Company’s lines of credit.

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