HP 2013 Annual Report Download - page 143
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HEWLETT-PACKARD COMPANY AND SUBSIDIARIES
Notes to Consolidated Financial Statements (Continued)
Note 14: Stockholders’ Equity (Continued)
Share Repurchase Program
HP’s share repurchase program authorizes both open market and private repurchase transactions.
In fiscal 2013, HP executed share repurchases of 77 million shares which were settled for $1.5 billion.
In fiscal 2012, HP executed share repurchases of 67 million shares which were settled for $1.6 billion.
In fiscal 2011, HP executed share repurchases of 259 million shares. Repurchases of 262 million shares
were settled for $10.1 billion, which included 3 million shares repurchased in transactions that were
executed in fiscal 2010 but settled in fiscal 2011. The foregoing shares repurchased and settled in fiscal
2013, fiscal 2012 and fiscal 2011 were all open market repurchase transactions.
In fiscal 2013 and 2012, there was no additional authorization for future share repurchases by HP’s
Board of Directors. In fiscal 2011, HP’s Board of Directors authorized an additional $10.0 billion for
future share repurchases. As of October 31, 2013, HP had remaining authorization of approximately
$7.6 billion for future share repurchases.
Taxes related to Other Comprehensive Income/Loss
2013 2012 2011
In millions
Tax (expense) benefit on change in unrealized gains/losses on
available-for-sale securities:
Tax (expense) benefit on unrealized gains/losses arising during the period . . $ (14) $ 25 $ —
Tax expense (benefit) on gains/losses reclassified into earnings .......... — — —
(14) 25 —
Tax benefit (expense) on change in unrealized gains/losses on cash flow
hedges:
Tax benefit (expense) on unrealized gains/losses arising during the period . . 97 (137) 86
Tax (benefit) expense on gains/losses reclassified into earnings .......... (49) 143 (210)
48 6 (124)
Tax (expense) benefit on change in unrealized components of defined benefit
plans:
Tax (expense) benefit on net losses arising during the period ........... (258) 261 263
Tax (benefit) expense on amortization of actuarial loss and prior service
benefit ................................................. (35) (31) (36)
Tax (expense) benefit on curtailments, settlements and other ........... (5) (48) 2
(298) 182 229
Tax benefit (expense) on change in cumulative translation adjustment ..... 25 (25) (20)
Tax (expense) benefit on other comprehensive income/loss ............. $(239) $188 $ 85
135