Quarterly report pursuant to Section 13 or 15(d)

Shareholders' Equity (Note)

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Shareholders' Equity (Note)
 9 Months Ended
Sep. 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 nine months ended September 30, 2016, HSNi acquired approximately 357,000 shares of its outstanding common stock for $16.6 million at an average price of $46.45. All shares were retired immediately following purchase. As of September 30, 2016, approximately 2.7 million shares remain authorized for repurchase under the program.
Dividend Policy
In the third 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 September 22, 2016 to HSNi's shareholders of record as of September 7, 2016.
In the fourth 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 December 20, 2016 to HSNi's shareholders of record as of December 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):
 
 
Nine Months Ended September 30,
 
 
2016
 
2015
Accumulated other comprehensive (loss) income as of January 1,
 
$
(95
)
 
$
127

Other comprehensive loss before reclassifications
 
(1,579
)
 
(2,111
)
Amounts reclassified from accumulated other comprehensive income (loss) to interest expense in the consolidated statements of operations
 
567

 
954

Income tax benefit
 
382

 
437

Other comprehensive loss, net of tax
 
(630
)
 
(720
)
Accumulated other comprehensive (loss) income as of September 30,
 
$
(725
)
 
$
(593
)