Pizza Hut 2014 Annual Report Download - page 156

13MAR201517272138
PART II
ITEM 8 Financial Statements and Supplementary Data
Shareholders’ Equity
Under the authority of our Board of Directors, we repurchased shares of our Common Stock during 2014, 2013 and 2012. All amounts exclude
applicable transaction fees.
Shares Repurchased Dollar Value of Shares
(thousands) Repurchased
Authorization Date 2014 2013 2012 2014 2013 2012
November 2014 — — — $ — $ — $ —
November 2013 8,488 — — 617 — —
November 2012 2,737 10,922 1,069 203 750 47
November 2011 — — 11,035 — — 750
January 2011 — — 2,787 — — 188
Total 11,225 10,922(a) 14,891(a) $ 820 $ 750(a) $ 985(a)
(a) 2013 amount excludes and 2012 amount includes the effect of $20 million in share repurchases (0.3 million shares) with trade dates prior to the 2012 fiscal year
end but with settlement dates subsequent to the 2012 fiscal year end.
On November 22, 2013, our Board of Directors authorized share share repurchases through May 2016 of up to $1 billion (excluding
repurchases through May 2015 of up to $750 million (excluding applicable transaction fees) of our outstanding Common Stock. As of
applicable transaction fees) of our outstanding Common Stock. On December 27, 2014, we have $1.1 billion available for future
November 20, 2014, our Board of Directors authorized additional repurchases under these authorizations.
Changes in accumulated other comprehensive income (loss) (‘‘OCI’’) are presented below.
Translation Adjustments
and Gains (Losses) From
Intra-Entity Transactions Pension and Post- Derivative
of a Long-Term Nature Retirement Benefits(a) Instruments Total
Balance at December 29, 2012, net of tax $ 166 $ (286) $ (12) $ (132)
Gains (losses) arising during the year classified
into accumulated OCI, net of tax 4 136 4 144
(Gains) losses reclassified from accumulated OCI,
net of tax — 53 (1) 52
OCI, net of tax 4 189 3 196
Balance at December 28, 2013, net of tax 170 (97) (9) 64
Gains (losses) arising during the year classified
into accumulated OCI, net of tax (143) (131) 15 (259)
(Gains) losses reclassified from accumulated OCI,
net of tax 2 18 (15) 5
OCI, net of tax (141) (113) — (254)
Balance at December 27, 2014, net of tax $ 29 $ (210) $ (9) $ (190)
(a) Amounts reclassified from accumulated OCI for pension and post-retirement benefit plan losses during 2014 include amortization of net losses of $20 million,
settlement charges of $6 million, amortization of prior service cost of $1 million and related income tax benefit of $9 million. Amounts reclassified from
accumulated OCI for pension and post-retirement benefit plan losses during 2013 include amortization of net losses of $51 million, settlement charges of
$30 million, amortization of prior service cost of $2 million and the related income tax benefit of $30 million. See Note 13.
62 YUM! BRANDS, INC. - 2014 Form 10-K
NOTE 15
Form 10-K