Computer Associates 2015 Annual Report Download - page 87

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Based on the Company’s experience, management believes that the damages amounts claimed in a case are not a
meaningful indicator of the potential liability. Claims, suits, investigations and proceedings are inherently uncertain and it is
not possible to predict the ultimate outcome of cases. The Company believes that it has meritorious defenses in connection
with its current lawsuits and material claims and disputes, and intends to vigorously contest each of them.
In the opinion of the Company’s management based upon information currently available to the Company, while the
outcome of these lawsuits, claims and disputes is uncertain, the likely results of these lawsuits, claims and disputes are not
expected, either individually or in the aggregate, to have a material adverse effect on the Company’s financial position,
results of operations or cash flows, although the effect could be material to the Company’s results of operations or cash
flows for any interim reporting period. For some of these matters, the Company is unable to estimate a range of reasonably
possible loss due to the stage of the matter and/or other particular circumstances of the matter. For others, a range of
reasonably possible loss can be estimated. For those matters for which such a range can be estimated, the Company
estimates that, in the aggregate, the range of reasonably possible loss is from zero to $30 million. This is in addition to
amounts, if any, that have been accrued for those matters.
The Company is obligated to indemnify its officers and directors under certain circumstances to the fullest extent permitted
by Delaware law. As a part of that obligation, the Company may, from time to time, advance certain attorneys’ fees and
expenses incurred by officers and directors in various lawsuits and investigations, as permitted under Delaware law.
Note 12 — Stockholders’ Equity
Stock Repurchases: On May 14, 2014, the Company’s Board of Directors approved a stock repurchase program that
authorized the Company to acquire up to $1 billion of its common stock.
During fiscal year 2015, the Company repurchased approximately 7.2 million shares of its common stock for approximately
$215 million. At March 31, 2015, the Company remained authorized to purchase approximately $785 million of its common
stock under its current stock repurchase program.
During fiscal year 2014, the Company repurchased approximately 16.3 million shares of its common stock for approximately
$505 million, which completed its previous stock repurchase program.
During fiscal year 2013, the Company completed an Accelerated Share Repurchase (ASR) agreement with a bank to
repurchase $500 million of its common stock, which was entered into during the fourth quarter of fiscal year 2012. During
the first quarter of fiscal year 2013, the Company received approximately 3.7 million additional shares and, as a result, the
initial amount recorded as additional paid-in capital of $125 million was reclassified to treasury stock. The final number of
shares delivered upon settlement of the agreement was determined based on the average price of the Company’s common
stock over the term of the ASR agreement.
Accumulated Other Comprehensive Loss: Foreign currency translation losses included in ‘‘Accumulated other comprehensive
loss’’ in the Company’s Consolidated Balance Sheets at March 31, 2015, 2014 and 2013 were approximately $418 million,
$171 million and $155 million, respectively.
Cash Dividends: The Company’s Board of Directors declared the following dividends during fiscal years 2015 and 2014:
Year Ended March 31, 2015:
DIVIDEND TOTAL(in millions, except per share amounts)
DECLARATION DATE PER SHARE RECORD DATE AMOUNT PAYMENT DATE
May 15, 2014 $ 0.25 May 29, 2014 $ 111 June 17, 2014
July 31, 2014 $ 0.25 August 21, 2014 $ 111 September 9, 2014
November 6, 2014 $ 0.25 November 20, 2014 $ 111 December 9, 2014
February 5, 2015 $ 0.25 February 19, 2015 $ 111 March 17, 2015
Year Ended March 31, 2014:
DIVIDEND TOTAL(in millions, except per share amounts)
DECLARATION DATE PER SHARE RECORD DATE AMOUNT PAYMENT DATE
May 9, 2013 $ 0.25 May 23, 2013 $ 114 June 11, 2013
August 1, 2013 $ 0.25 August 22, 2013 $ 114 September 10, 2013
November 6, 2013 $ 0.25 November 21, 2013 $ 113 December 10, 2013
February 5, 2014 $ 0.25 February 20, 2014 $ 112 March 18, 2014
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