Quarterly report pursuant to Section 13 or 15(d)

Shareholders' Equity (Note)

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Shareholders' Equity (Note)
 3 Months Ended
Mar. 31, 2017
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 three months ended March 31, 2017, there were no share repurchases. During the three months ended March 31, 2016, HSNi acquired approximately 181,000 shares of its outstanding common stock for $8.7 million at an average price of $48.04. All shares were retired immediately following purchase. As of March 31, 2017, approximately 2.7 million shares remain authorized for repurchase under the program.
Dividend Policy
In the first quarter of 2017, 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 March 22, 2017 to HSNi's shareholders of record as of March 8, 2017.
In the second quarter of 2017, HSNi's Board of Directors approved a quarterly cash dividend of $0.35 per common share. The dividend will be paid on June 21, 2017 to HSNi's shareholders of record as of June 7, 2017.

Accumulated Other Comprehensive Income (Loss)
Accumulated other comprehensive income (loss) 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):
 
 
Three Months Ended March 31,
 
 
2017
 
2016
Accumulated other comprehensive income (loss) as of January 1,
 
$
2,220

 
$
(95
)
Other comprehensive loss before reclassifications
 
(242
)
 
(603
)
Amounts reclassified from accumulated other comprehensive income to interest expense in the consolidated statements of operations
 
742

 
200

Income tax (expense) benefit
 
(173
)
 
154

Other comprehensive income (loss), net of tax
 
327

 
(249
)
Accumulated other comprehensive income (loss) as of March 31,
 
$
2,547

 
$
(344
)