Quarterly report pursuant to Section 13 or 15(d)

Shareholders' Equity (Note)

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Shareholders' Equity (Note)
 6 Months Ended
Jun. 30, 2016
Stockholders' Equity Note [Abstract]  
Shareholders' Equity
SHAREHOLDERS’ EQUITY
Share Repurchase Program
Effective January 27, 2015, HSNi’s Board of Directors approved a share repurchase program which allows HSNi to purchase up to 4 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 depends 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. During the six months ended June 30, 2016, HSNi acquired approximately 232,000 shares of its outstanding common stock for $11.1 million at an average price of $47.92. All shares were retired immediately following purchase. As of June 30, 2016, approximately 2.8 million shares remain authorized for repurchase under the program.
Dividend Policy
In the second quarter of 2016, HSNi's Board of Directors approved a quarterly cash dividend of $0.35 per common share resulting in a payment of $18.3 million on June 15, 2016 to HSNi's shareholders of record as of June 1, 2016.
In the third quarter of 2016, HSNi's Board of Directors approved a quarterly cash dividend of $0.35 per common share. The dividend will be paid on September 22, 2016 to HSNi's shareholders of record as of September 7, 2016.

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 income (loss) (in thousands):
 
 
Six Months Ended June 30,
 
 
2016
 
2015
Accumulated other comprehensive (loss) income as of January 1,
 
$
(95
)
 
$
127

Other comprehensive loss before reclassifications
 
(2,775
)
 
(1,414
)
Amounts reclassified from accumulated other comprehensive income (loss) to interest expense in the consolidated statements of operations
 
395

 
637

Income tax benefit
 
893

 
295

Other comprehensive loss, net of tax
 
(1,487
)
 
(482
)
Accumulated other comprehensive (loss) income as of June 30,
 
$
(1,582
)
 
$
(355
)