Health Net 2014 Annual Report Download - page 131

HEALTH NET, INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued)
F-21
For the years ended December 31, 2014, 2013 and 2012, respectively, an aggregate of 715,000 shares, 941,000
shares and 1,539,000 shares of common stock equivalents were considered anti-dilutive and were not included in the
computation of diluted earnings per share. Stock options expire at various times through August 2018 (see Note 8).
In May 2011, our Board of Directors authorized a stock repurchase program for the repurchase of up to $300
million of our outstanding common stock (our "stock repurchase program"). On March 8, 2012, our Board of Directors
approved a $323.7 million increase to our stock repurchase program and on December 16, 2014, our Board of Directors
approved another $257.8 million increase to our stock repurchase program. This latest increase, which when taken
together with the remaining authorization at that time, brought our total authorization up to $400.0 million. As of
December 31, 2014 and 2013, the remaining authorization under our stock repurchase program was $400.0 million and
$280.0 million, respectively. See Note 9 for more information regarding our stock repurchase program.
Comprehensive Income
Comprehensive income includes all changes in stockholders’ equity (except those arising from transactions with
stockholders) and includes net income (loss), net unrealized appreciation (depreciation) after tax on investments
available-for-sale and prior service cost and net loss related to our defined benefit pension plan (see Note 10).
Our accumulated other comprehensive income (loss) for the years ended December 31, 2014, 2013 and 2012 is as
follows:
Unrealized Gains
(Losses) on
investments
available-for-sale Defined Benefit
Pension Plans
Accumulated
Other
Comprehensive
Income (loss)
(Dollars in millions)
Balance as of January 1, 2012 .......................... $ 29.8 $ (13.2) $ 16.6
Other comprehensive income (loss) before
reclassifications.............................................. 32.1 (0.4) 31.7
Amounts reclassified from accumulated
other comprehensive income ......................... (23.9) 2.6 (21.3)
Other comprehensive income for the year ended
December 31, 2012.............................................. 8.2 2.2 10.4
Balance as of January 1, 2013 .......................... $ 38.0 $ (11.0) $ 27.0
Other comprehensive (loss) income before
reclassifications.............................................. (50.7) 4.8 (45.9)
Amounts reclassified from accumulated
other comprehensive income ......................... (15.6) 1.6 (14.0)
Other comprehensive (loss) income for the year
ended December 31, 2013................................... (66.3) 6.4 (59.9)
Balance as of January 1, 2014 .......................... $(28.3) $ (4.6) $ (32.9)
Other comprehensive income (loss) before
reclassifications.............................................. 38.3 (7.3) 31.0
Amounts reclassified from accumulated
other comprehensive income ......................... (1.8) 0.4 (1.4)
Other comprehensive income (loss) for the year
ended December 31, 2014................................... 36.5 (6.9) 29.6
Balance as of December 31, 2014 ..................... $ 8.2 $ (11.5) $ (3.3)