Sears 2013 Annual Report Download - page 96

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SEARS HOLDINGS CORPORATION
Notes to Consolidated Financial Statements—(Continued)
96
millions 2013 2012 2011
Aggregate fair value of shares granted based on weighted average fair value at date of
grant . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 7 $ 9 $ 23
Aggregate fair value of shares vesting during period . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14 10 5
Aggregate fair value of shares forfeited during period . . . . . . . . . . . . . . . . . . . . . . . . . . . 448
Approximately 124,000 shares of the 205,000 shares of unvested restricted stock outstanding at February 1,
2014 are scheduled to vest during 2014, subject to satisfaction of applicable vesting conditions.
Common Share Repurchase Program
From time to time, we repurchase shares of our common stock under a common share repurchase program
authorized by our Board of Directors. The common share repurchase program was initially announced in 2005 with
a total authorization since inception of the program of $6.5 billion. During 2013 and 2012, we repurchased no shares
of our common stock under our common share repurchase program. During 2011, we repurchased approximately 2.8
million of our common shares at a total cost of approximately $183 million, or an average price of $65.66 per share.
At February 1, 2014, we had approximately $504 million of remaining authorization under our common share
repurchase program.
The share repurchase program has no stated expiration date and share repurchases may be implemented using a
variety of methods, which may include open market purchases, privately negotiated transactions, block trades,
accelerated share repurchase transactions, the purchase of call options, the sale of put options or otherwise, or by any
combination of such methods.
Accumulated Other Comprehensive Loss
The following table displays the components of accumulated other comprehensive loss:
millions February 1,
2014 February 2,
2013 January 28,
2012
Pension and postretirement adjustments (net of tax of $(328), $(443)
and $(492), respectively) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $(1,036) $ (1,408) $ (1,575)
Cumulative unrealized derivative gain (loss) (net of tax of $0, $0
and $0, respectively). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2 — (5)
Currency translation adjustments (net of tax of $(38), $(39) and
$(26), respectively). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (83)(51)(29)
Accumulated other comprehensive loss. . . . . . . . . . . . . . . . . . . . . . . . $(1,117) $ (1,459) $ (1,609)
Pension and postretirement adjustments relate to the net actuarial gain on our pension and postretirement plans
recognized as a component of accumulated other comprehensive loss.
Accumulated other comprehensive loss attributable to noncontrolling interests at February 1, 2014, February 2,
2013, and January 28, 2012 was $53 million, $64 million and $9 million, respectively.