Quarterly report pursuant to Section 13 or 15(d)

Shareholders' Equity (Note)

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Shareholders' Equity (Note)
 6 Months Ended
Jun. 30, 2014
Stockholders' Equity Note [Abstract]  
Shareholders' Equity
SHAREHOLDERS’ EQUITY
Share Repurchase Program
On September 27, 2011, HSNi’s Board of Directors approved a share repurchase program which allowed HSNi to purchase 10 million shares of its common stock from time to time through privately negotiated and/or open market transactions. The timing of repurchases and actual number of shares repurchased depended on a variety of factors, including the stock price, corporate and regulatory requirements, restrictions under HSNi’s debt obligations and other market and economic conditions. For the six months ended June 30, 2014, HSNi acquired under the program approximately 931,000 shares of its outstanding common stock for $51.0 million at an average price of $54.76. In July 2014, HSNi completed its 10 million share repurchase program at an aggregate cost of $451.0 million, representing an average cost of $45.10 per share. All shares were immediately retired upon purchase.
Dividend Policy
In the second quarter of 2014, HSNi's Board of Directors approved a quarterly cash dividend of $0.25 per common share. The dividend was paid on June 18, 2014 to HSNi's shareholders of record as of June 4, 2014.
In the third quarter of 2014, HSNi's Board of Directors approved a quarterly cash dividend of $0.25 per common share. The dividend will be paid on September 17, 2014 to HSNi's shareholders of record as of September 3, 2014.

Accumulated Other Comprehensive (Loss) Income
Accumulated other comprehensive (loss) income includes the cumulative gains and losses of derivative instruments that qualify as cash flow hedges. The following table provides a rollforward of accumulated other comprehensive (loss) income for the six months ended June 30, 2014 and 2013 (in thousands):

 
 
2014
 
2013
Accumulated other comprehensive (loss) income as of January 1,
 
$
354

 
$
(471
)
Other comprehensive (loss) income before reclassifications
 
(1,338
)
 
2,593

Amounts reclassified from accumulated other comprehensive income (loss) to interest expense in the consolidated statements of operations
 
546

 
—

Income tax benefit (expense)
 
303

 
(975
)
Other comprehensive (loss) income, net of tax
 
(489
)
 
1,618

Accumulated other comprehensive (loss) income as of June 30,
 
$
(135
)
 
$
1,147