Note 12 – Equity

Share Activity

During the first half of 2015, the Company repurchased 5.2 million shares of its common stock for an aggregate purchase price of $100 million, which completed the share repurchase program authorized by the Company’s Board of Directors in the fourth quarter of 2014. The Company may use either authorized and unissued shares or treasury shares to meet share issuance requirements, including those resulting from the exercise of stock options, vesting of restricted shares and other share issuance requirements. During the year ended December 31, 2014, the Company reissued a total of 6.6 million shares of its treasury stock with a cost basis of $104.4 million in settlement of its senior convertible notes, which matured and were converted in 2014. See Note 8 - Debt.

Subsequent Event

In February 2016, the Company’s Board of Directors authorized a $100 million share repurchase program (the “2016 Share Repurchase Program”). Under the 2016 Share Repurchase Program, the Company may repurchase shares from time to time in open market transactions or in privately-negotiated transactions in accordance with applicable securities laws. The timing and the amount of any repurchases will be determined based on market conditions, legal requirements, cash flow and liquidity needs and other factors. The share repurchase program may be modified or suspended at any time, at the Company’s discretion. Share repurchases, which are recorded at cost and are held in the Company’s treasury, will be funded with available cash or with availability under the Credit Facility.

Comprehensive Income (Loss)

Comprehensive income (loss) is a measure of net income (loss) and other changes in equity that result from transactions other than those with shareholders. Comprehensive income (loss) consists of net income (loss), foreign currency translation adjustments, unrealized gains and losses from available-for-sale securities and net income (loss) attributable to non-controlling interests.

Accumulated Other Comprehensive Loss

Accumulated other comprehensive loss activity for the periods indicated was as follows (in thousands):



	For the Years Ended December 31,
	2015									2014									2013
	Unrealized (Losses) Gains
	Foreign Currency			Other			Total			Foreign Currency			Other			Total			Foreign Currency			Other			Total
Balance as of January 1	$	(28,716	)	$	(5,288	)	$	(34,004	)	$	(7,998	)	$	(5,288	)	$	(13,286	)	$	(105	)	$	(5,396	)	$	(5,501	)
Activity before reclassifications, net of tax	(38,347		)	—			(38,347		)	(20,718		)	—			(20,718		)	(7,893		)	337			(7,556		)
Reclassifications, net of tax	—			—			—			—			—			—			—			(229		)	(229		)
Activity, net of tax	$	(38,347	)	$	—		$	(38,347	)	$	(20,718	)	$	—		$	(20,718	)	$	(7,893	)	$	108		$	(7,785	)
Balance as of December 31	$	(67,063	)	$	(5,288	)	$	(72,351	)	$	(28,716	)	$	(5,288	)	$	(34,004	)	$	(7,998	)	$	(5,288	)	$	(13,286	)

Unrealized foreign currency gains and losses relate primarily to fluctuations in foreign currency exchange rates of the Company’s foreign subsidiaries with a functional currency other than the U.S. dollar. Foreign currency activity is related primarily to the Company’s Canadian operations, including expansion of certain of the Company’s organic business operations into Canada.