Quarterly report pursuant to Section 13 or 15(d)

Shareholders' Equity (Tables)

v2.4.0.8
Shareholders' Equity (Tables)
3 Months Ended
Mar. 31, 2014
Equity [Abstract]  
Summary of Changes in Shareholders' Equity

Changes in shareholders’ equity for the three months ended March 31, 2014 were as follows (in thousands):

 

Total shareholders’ equity as of December 31, 2013

   $ 551,446   

Net income

     74,628   

Issuance of common shares from exercise of stock options, SARs, restricted stock grants, and employee stock purchase plan

     60   

Excess tax benefit from exercise of stock options, SARs and restricted stock grants

     3,154   

Additional capital from share-based compensation

     10,995   

Repurchases of common shares, including Forward Transactions

     (694,503

Allocation to additional paid-in capital due to issuance of senior convertible notes and Forward Transactions.

     249,797   

Reduction in additional paid-in capital from purchased capped call

     (123,825

Dividends paid and received, net

     (26,955

Foreign currency translation adjustment, net of income taxes

     (2,183

Unrealized loss on derivatives, net of income taxes

     (413

Unrealized loss on available-for-sale investments, net of income taxes

     (95
  

 

 

 

Total shareholders’ equity as of March 31, 2014

   $ 42,106   
  

 

 

Summary of Changes in Accumulated Other Comprehensive Income (Loss)

The following table summarizes changes in accumulated other comprehensive income (loss) during the three months ended March 31, 2014:

 

     Changes in Accumulated Other Comprehensive
Income (Loss) by Component
Three Months Ended March 31, 2014
 
     Foreign
Currency
Translation
Adjustments
    Unrealized
Gain (Loss) on
Derivatives
    Unrealized Gain
(Loss) on
Available-For-
Sale Investments
    Total  
     (In millions)  

Beginning Balance

   $ (25.6   $ 5.7      $ 0.1      $ (19.8
  

 

 

   

 

 

   

 

 

   

 

 

 

Other comprehensive income (loss) before reclassifications, net of tax

     (2.2     (0.1     (2.1     (4.4

Amounts reclassified from accumulated other comprehensive income (loss) to income, net of tax(1)

     —          (0.3     2.0        1.7   
  

 

 

   

 

 

   

 

 

   

 

 

 

Total other comprehensive income (loss), net of reclassifications

     (2.2     (0.4     (0.1     (2.7
  

 

 

   

 

 

   

 

 

   

 

 

 

Ending balance

   $ (27.8   $ 5.3      $ —        $ (22.5
  

 

 

   

 

 

   

 

 

   

 

 

 

 

(1) See Note 2, Significant Accounting Policies, and Note 9, Derivative Instruments and Hedging Activities, for information regarding the location in the condensed consolidated statements of income of gains (losses) reclassified from accumulated other comprehensive income (loss) into income during the three months ended March 31, 2014.