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MASTERCARD INCORPORATED
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS – (Continued)
85
The following table summarizes the Company's share repurchase authorizations of its Class A common stock through
December 31, 2013, as well as historical purchases:
Authorization Dates
December
2013 February
2013 June
2012 April
20111Total
(in millions, except average price data)
Board authorization . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 3,500 $ 2,000 $ 1,500 $ 2,000 $ 9,000
Dollar-value of shares repurchased in 2011. . . . . . . . . . ** ** ** $ 1,148 $ 1,148
Remaining authorization at December 31, 2011 . . . . . . ** ** ** $ 852 $ 852
Dollar-value of shares repurchased in 2012. . . . . . . . . . ** ** $ 896 $ 852 $ 1,748
Remaining authorization at December 31, 2012 . . . . . . ** ** $ 604 $ — $ 604
Dollar-value of shares repurchased in 2013. . . . . . . . . . $ — $ 1,839 $ 604 $ — $ 2,443
Remaining authorization at December 31, 2013 . . . . . . $ 3,500 $ 161 $ — $ — $ 3,661
Shares repurchased in 2011 . . . . . . . . . . . . . . . . . . . . . . ** ** ** 44.3 44.3
Average price paid per share in 2011. . . . . . . . . . . . . . . ** ** ** $ 25.89 $ 25.89
Shares repurchased in 2012 . . . . . . . . . . . . . . . . . . . . . . ** ** 19.5 21.1 40.6
Average price paid per share in 2012. . . . . . . . . . . . . . . ** ** $ 46.02 $ 40.35 $ 43.07
Shares repurchased in 2013 . . . . . . . . . . . . . . . . . . . . . . — 29.2 11.7 — 40.9
Average price paid per share in 2013. . . . . . . . . . . . . . . $ — $ 63.01 $ 51.72 $ — $ 59.78
Cumulative shares repurchased through
December 31, 2013 . . . . . . . . . . . . . . . . . . . . . . . . . . . . — 29.2 31.1 65.4 125.7
Cumulative average price paid per share . . . . . . . . . . . . $ — $ 63.01 $ 48.16 $ 30.56 $ 42.45
** Not applicable
1 The initial authorization in September 2010 for $1 billion was amended in April 2011 to increase the authorization to $2 billion.
Note 14. Accumulated Other Comprehensive Income (Loss)
The changes in the balances of each component of accumulated other comprehensive income (loss) for the years ended
December 31, 2013 and 2012 were as follows:
Foreign
Currency
Translation
Adjustments
Defined Benefit
Pension and
Other
Postretirement
Plans, Net of Tax
Investment
Securities
Available-for-
Sale, Net of Tax
Accumulated
Other
Comprehensive
Income (Loss)
(in millions)
Balance at December 31, 2011. . . . . . . . . . . . . . . . . . . . $ 30 $ (32) $ — $ (2)
Current period other comprehensive income (loss) *. . . 63 (5) 5 63
Balance at December 31, 2012. . . . . . . . . . . . . . . . . . . . 93 (37) 5 61
Current period other comprehensive income (loss) *. . . 113 8 (4) 117
Balance at December 31, 2013. . . . . . . . . . . . . . . . . . . . $ 206 $ (29) $ 1 $ 178
* During the years ended December 31, 2013 and 2012, $6 million and $13 million of deferred costs related to the Company's Pension
Plans and Postretirement Plans were reclassified from accumulated other comprehensive income to general and administrative expense.
In addition, $5 million and $1 million of net gains on available-for-sale investment securities were recognized in investment income
during the years ended December 31, 2013 and 2012, respectively. Tax amounts related to these items are insignificant.