XML 92 R18.htm IDEA: XBRL DOCUMENT v2.4.0.8
EQUITY ACTIVITY - (Notes)
 12 Months Ended
Dec. 31, 2013
Equity [Abstract]  
EQUITY ACTIVITY
EQUITY ACTIVITY

The authorized capital stock of Nortek consists of 10,000,000 shares of preferred stock with a $0.01 per share par value, none of which were issued or outstanding at December 31, 2013 and 2012, and 90,000,000 shares of common stock with a $0.01 per share par value, of which 15,419,601 shares and 15,298,465 shares were outstanding at December 31, 2013 and 2012, respectively.

Other Stock Transactions

In connection with the emergence from bankruptcy in 2009, Nortek issued warrants that may be exercised for a period of five years to purchase 789,474 shares of common stock at an exercise price of $52.80 per share. During 2013 and 2012, approximately 46,837 and 96,444 warrants were exercised for shares of Nortek's common stock primarily through net share settlements as permitted under the warrant agreement. There were no warrants exercised during 2011.

Comprehensive Income (Loss)
  
Comprehensive income (loss) includes net earnings (loss), unrealized gains and losses from foreign currency translation, and pension liability adjustments, net of tax attributes. The components of the Company’s comprehensive income (loss) and the effect on earnings for the periods presented are detailed in the accompanying consolidated statements of comprehensive income (loss).
 
The balances of each component, net of tax attributes, within accumulated other comprehensive loss for the three years ended 2013 are as follows:
 
 
 
Foreign
Currency
Translation
 
Pension
Liability Adjustment
 
Total
Accumulated
Other
Comprehensive
Loss
 
 
(Dollar amounts in millions)
 
 
 
 
 
 
 
Balance, December 31, 2010
 
$
2.3

 
$
(1.5
)
 
$
0.8

 
 
 
 
 
 
 
Other comprehensive income (loss) before reclassifications
 
(1.6
)
 
(19.8
)
 
(21.4
)
Amounts reclassified from AOCI to SG&A (1)
 
—

 
(0.2
)
 
(0.2
)
Net other comprehensive income (loss), December 31, 2011
 
(1.6
)
 
(20.0
)
 
(21.6
)
 
 
 
 
 
 
 
Balance, December 31, 2011
 
$
0.7

 
$
(21.5
)
 
$
(20.8
)
 
 
 
 
 
 
 
Other comprehensive income (loss) before reclassifications
 
1.4

 
(3.3
)
 
(1.9
)
Amounts reclassified from AOCI to SG&A (1)
 
—

 
0.4

 
0.4

Net other comprehensive income (loss), December 31, 2012
 
1.4

 
(2.9
)
 
(1.5
)
 
 
 
 
 
 
 
Balance, December 31, 2012
 
$
2.1

 
$
(24.4
)
 
$
(22.3
)
 
 
 
 
 
 
 
Other comprehensive income (loss) before reclassifications
 
(3.0
)
 
8.3

 
5.3

Amounts reclassified from AOCI to SG&A (1)
 
—

 
0.7

 
0.7

Net other comprehensive income (loss), December 31, 2013
 
(3.0
)
 
9.0

 
6.0

 
 
 
 
 
 
 
Balance, December 31, 2013
 
$
(0.9
)
 
$
(15.4
)
 
$
(16.3
)
 

(1)
For additional information, see Note 13, "Pension, Profit Sharing and & Other Post-Retirement Benefits".