Quest Diagnostics 2015 Annual Report Download - page 110

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QUEST DIAGNOSTICS INCORPORATED AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS – CONTINUED
(in millions unless otherwise indicated)
F- 35
The changes in accumulated other comprehensive income (loss) by component for 2015, 2014 and 2013 were as
follows:
Foreign
Currency
Translation
Adjustment
Market
Value
Adjustment
Net
Deferred
Loss on
Cash Flow
Hedges Other
Accumulated
Other
Comprehensive
Income (Loss)
Balance, December 31, 2012 $ 25 $ 1 $ (7) $ (5) $ 14
Other comprehensive income (loss) before
reclassifications 2 (1) 1 1 3
Amounts reclassified from accumulated
other comprehensive income (loss) (29) — 1 3 (25)
Net current period other comprehensive
income (loss) (27) (1) 2 4 (22)
Balance, December 31, 2013 (2) — (5)(1)(8)
Other comprehensive income (loss) before
reclassifications (7) (1)(11)(1)(20)
Amounts reclassified from accumulated
other comprehensive income (loss) — — 1 — 1
Net current period other comprehensive
income (loss) (7) (1)(10)(1)(19)
Balance, December 31, 2014 (9) (1)(15)(2)(27)
Other comprehensive income (loss) before
reclassifications (15) — — 1 (14)
Amounts reclassified from accumulated
other comprehensive income (loss) — — 3 — 3
Net current period other comprehensive
income (loss) (15) — 3 1 (11)
Balance, December 31, 2015 $ (24) $ (1) $ (12) $ (1) $ (38)
For the years ended December 31, 2015, 2014 and 2013, the gross deferred losses on cash flow hedges were
reclassified from accumulated other comprehensive loss to interest expense, net.
For the year ended December 31, 2013, the gross foreign currency adjustment was reclassified from accumulated other
comprehensive loss to income from discontinued operations, net of taxes due to the completed sale of HemoCue.
Dividends
During each of the quarters of 2015, the Company's Board of Directors declared a quarterly cash dividend of $0.38 per
common share. During each of the quarters of 2014, the Company's Board of Directors declared a quarterly cash dividend of
$0.33 per common share. During each of the quarters in 2013, the Company's Board of Directors declared a quarterly cash
dividend of $0.30 per common share.
Share Repurchase Plan
In December 2015, the Company's Board of Directors authorized the Company to repurchase an additional $500
million of the Company's common stock. In August 2013, the Company’s Board of Directors authorized the Company to
repurchase an additional $1 billion of the Company’s common stock.
At December 31, 2015, $972 million remained available under the Company’s share repurchase authorization. The
share repurchase authorization has no set expiration or termination date.
QUEST DIAGNOSTICS 2015 ANNUAL REPORT ON FORM 10-K