Note 6—Stockholders’ Equity
Dividends
The Company’s current quarterly dividend rate is $0.31 per share. In December 2012, the Company paid a special cash dividend of $7.00 per share, totaling approximately $3,049.
Stock Repurchase Programs
The Company’s stock repurchase program is conducted under a $4,000 authorization by the Board of Directors approved in April 2011, which expires in April 2015. As of the end of 2013, the total amount repurchased under this plan was $945. The following table summarizes the Company’s stock repurchase activity:
|
| | | | | | | | | | |
| Shares Repurchased (000’s) | | Average Price per Share | | Total Cost |
2013 | 357 |
| | $ | 96.41 |
| | $ | 34 |
|
2012 | 7,272 |
| | 84.75 |
| | 617 |
|
2011 | 8,939 |
| | 71.74 |
| | 641 |
|
These amounts differ from the stock repurchase balances in the accompanying consolidated statements of cash flows due to changes in unsettled stock repurchases at the end of each fiscal year.
Accumulated Other Comprehensive (Loss) Income
Accumulated other comprehensive (loss) income, net of tax where applicable, was $(122) and $156 at the end of 2013 and 2012, respectively, and was comprised primarily of unrealized foreign-currency translation adjustments. In 2012, as part of the acquisition of the noncontrolling interest in Mexico, the Company reclassified $155 of accumulated unrealized losses on foreign-currency translation adjustments to Costco’s accumulated other comprehensive income. This balance was previously included as a component of non-controlling interest.
