Preferred Stock, Common Stock and Other Stockholders' Equity (Deficit)

12 Months Ended

Dec. 31, 2013

Stockholders' Equity Note [Abstract]

Preferred Stock, Common Stock and Other Stockholders' Equity (Deficit)

Preferred Stock, Common Stock and Other Stockholders' Equity (Deficit)

Common Stock

As of December 31, 2013, the number of authorized shares of common stock was 140,000,000 shares, of which 94,857,347 shares were outstanding, 5,083,000 shares were reserved for future issuance through our Long-Term Incentive Plan, and 1,883,000 shares were reserved for future issuance through our Employee Stock Purchase Plan (the "ESPP"). Pursuant to the ESPP, Holdings' common stock may be issued by either authorized and unissued shares, treasury shares or shares purchased on the open market.

On May 5, 2011 and May 8, 2013, Holdings’ Board of Directors approved two-for-one stock splits of Holdings’ common stock effective in the form of a stock dividend of one share of common stock for each outstanding share of common stock. The record dates for the 2011 Stock Split and 2013 Stock Split were June 15, 2011 and June 12, 2013, respectively. The additional shares of common stock in connection with the 2011 Stock Split and the 2013 Stock Split were distributed on June 27, 2011 and June 26, 2013, respectively. In accordance with the provisions of our stock benefit plans and as determined by Holdings’ Board of Directors, the number of shares available for issuance, the number of shares subject to outstanding equity awards and the exercise prices of outstanding stock option awards were adjusted to equitably reflect the effect of the 2011 Stock Split and the 2013 Stock Split. All share and per share amounts presented in the consolidated financial statements and Notes have been retroactively adjusted to reflect the 2011 Stock Split and the 2013 Stock Split.

On February 24, 2011, Holdings' Board of Directors approved a stock repurchase program that permitted Holdings to repurchase up to $60.0 million in shares of Holdings' common stock over a three-year period (the "First Stock Repurchase Plan"). Under the First Stock Repurchase Plan, during the twelve months ended December 31, 2011, Holdings repurchased an aggregate of 3,235,000 shares at a cumulative price of approximately $60.0 million. The small amount of remaining shares that were permitted to be repurchased under the First Stock Repurchase Plan were repurchased in January 2012.

On January 3, 2012, Holdings' Board of Directors approved a new stock repurchase program that permitted Holdings to repurchase up to $250.0 million in shares of Holdings' common stock over a four-year period (the "Second Stock Repurchase Plan"). Under the Second Stock Repurchase Program, during the year ended December 31, 2012, Holdings repurchased an aggregate of 8,499,000 shares at a cumulative price of approximately $232.0 million. As of January 4, 2013, Holdings had repurchased an additional 578,000 shares at a cumulative price of approximately $18.0 million and an average price per share of $31.16 to complete the permitted repurchases under the Second Stock Repurchase Plan.

On December 11, 2012, Holdings' Board of Directors approved a new stock repurchase program that permitted Holdings to repurchase up to $500.0 million in shares of Holdings' common stock over a three-year period (the "Third Stock Repurchase Plan"). As of December 31, 2013, Holdings had repurchased 14,775,000 shares at a cumulative price of approximately $500.0 million and an average price per share of $33.84 to complete the permitted repurchases under the Third Stock Repurchase Plan.

On November 20, 2013, Holdings’ Board of Directors approved a new stock repurchase program that permits Holdings to repurchase up to $500.0 million in shares of Holdings’ common stock (the “Fourth Stock Repurchase Plan”). As of February 14, 2014, Holdings has repurchased 154,000 shares at a cumulative price of approximately $5.6 million and an average price per share of $36.10 under the Fourth Stock Repurchase Plan.

During the years ended December 31, 2013, 2012 and 2011, Holdings' Board of Directors declared and paid quarterly cash dividends per share of common stock as follows:

	Dividends Paid Per Share
2013:
Fourth Quarter	$	0.470
Third Quarter	$	0.450
Second Quarter	$	0.450
First Quarter	$	0.450
2012:
Fourth Quarter	$	0.450
Third Quarter	$	0.300
Second Quarter	$	0.300
First Quarter	$	0.300
2011:
Fourth Quarter	$	0.030
Third Quarter	$	0.030
Second Quarter	$	0.015
First Quarter	$	0.015

Preferred Stock

The number of authorized shares of preferred stock was 5,000,000 as of December 31, 2013. No shares of preferred stock were outstanding or reserved for future issuance. The authorization of preferred shares empowers Holdings' Board of Directors, without further stockholder approval, to issue preferred shares with dividend, liquidation, conversion, voting or other rights which could adversely affect the voting power or other rights of the holders of Holdings' common stock. If issued, the preferred stock could also dilute the holders of Holdings' common stock and could be used to discourage, delay or prevent a change of control of us.

Accumulated Other Comprehensive (Loss) Income

The balances for each component of accumulated other comprehensive (loss) income are as follows:

	Currency Translation Adjustment			Cash Flow Hedges			Defined Benefit Plans			Income Taxes			Accumulated Other Comprehensive Income (Loss)
Balance as of December 31, 2010	$	2,539		$	—		$	(6,731	)	$	—		$	(4,192	)
Net current period change	(9,154		)	—			(36,566		)	—			(45,720		)
Balance as of December 31, 2011	$	(6,615	)	$	—		$	(43,297	)	$	—		$	(49,912	)
Net current period change	6,953			(865		)	(4,627		)	(269		)	1,192
Amounts reclassified from AOCI	—			37			(666		)	248			(381		)
Balance as of December 31, 2012	$	338		$	(828	)	$	(48,590	)	$	(21	)	$	(49,101	)
Net current period change	(2,048		)	(31		)	29,646			(11,039		)	16,528
Amounts reclassified from AOCI	—			558			(761		)	79			(124		)
Balance as of December 31, 2013	$	(1,710	)	$	(301	)	$	(19,705	)	$	(10,981	)	$	(32,697	)

The Company had the following reclassifications out of accumulated other comprehensive income (loss) during the years ended December 31, 2013 and 2012:

	Location of	Amount of Reclassification from AOCI
	Reclassification	Year Ended December 31,
Component of AOCI	into Income	2013			2012
		(Amounts in thousands)
Amortization of loss on interest rate hedge	Interest expense	$	(558	)	$	(37	)
	Income tax benefit	219			15
	Net of tax	$	(339	)	$	(22	)
Amortization of deferred actuarial loss and prior service cost	Operating expenses	$	761		$	666
	Income tax benefit	(298		)	(263		)
	Net of tax	$	463		$	403
Total reclassifications		$	124		$	381