Assurant 2014 Annual Report Download - page 136

Download and view the complete annual report

Please find page 136 of the 2014 Assurant annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 161

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126
  • 127
  • 128
  • 129
  • 130
  • 131
  • 132
  • 133
  • 134
  • 135
  • 136
  • 137
  • 138
  • 139
  • 140
  • 141
  • 142
  • 143
  • 144
  • 145
  • 146
  • 147
  • 148
  • 149
  • 150
  • 151
  • 152
  • 153
  • 154
  • 155
  • 156
  • 157
  • 158
  • 159
  • 160
  • 161

ASSURANT, INC. – 2014 Form 10-KF-48
19 Accumulated Other Comprehensive Income
18. Stock Repurchase
The following table shows the shares repurchased during the periods indicated:
Period in 2014
Number of
Shares Purchased
Average
Price Paid
Per Share
Total Number of Shares
Purchased as Part of
Publicly Announced Programs
January 314,600 $ 66.56 314,600
February — — —
March —— —
April 302,000 65.54 302,000
May 292,000 67.22 292,000
June 283,000 67.68 283,000
July —— —
August 386,000 65.07 386,000
September 186,000 65.00 186,000
October 571,000 63.02 571,000
November 447,000 67.99 447,000
December 516,890 68.05 516,890
TOTAL 3,298,490 $ 66.17 3,298,490
On November 15, 2013, the Company’s Board of Directors
authorized the Company to repurchase up to an additional
$600,000 of its outstanding common stock, making the total
remaining under the authorization $752,436 as of that date.
During the year ended December 31, 2014, the Company
repurchased 3,298,490 shares of the Company’s outstanding
common stock at a cost of $218,204, exclusive of commissions,
leaving $486,670 remaining under the total repurchase
authorization at December 31, 2014.
The timing and the amount of future repurchases will depend
on market conditions, the Company’s fi nancial condition,
results of operations, liquidity and other factors.
19. Accumulated Other Comprehensive Income
Certain amounts included in the consolidated statements of comprehensive income are net of reclassifi cation adjustments.
The following tables summarize those reclassifi cation adjustments (net of taxes):
Year Ended December 31, 2014
Foreign
currency
translation
adjustment
Unrealized
gains on
securities
OTTI
Pension
under-
funding
Accumulated
other
comprehensive
income
Balance at December 31, 2013 $ (38,767) $ 526,071 $ 26,427 $ (86,901) $ 426,830
Other comprehensive (loss) income before
reclassifi cations (88,944) 235,000 (1,321) (56,647) 88,088
Amounts reclassifi ed from accumulated other
comprehensive income — 32,011 1,488 7,350 40,849
Net current-period other comprehensive
(loss) income (88,944) 267,011 167 (49,297) 128,937
Balance at December 31, 2014 $ (127,711) $ 793,082 $ 26,594 $ (136,198) $ 555,767