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Capital Stock
 12 Months Ended
Dec. 31, 2013
Capital Stock [Abstract]  
Capital Stock
10.             Capital Stock

The Company's authorized capital stock consists of 25 million shares of preferred stock, par value $.001 per share, 500 million shares of Class A common stock, par value $.001 per share, and 100 million shares of Class B common stock, par value $.001 per share.  The shares of Class A common stock and Class B common stock are identical in all respects, except for voting rights and certain conversion rights and transfer restrictions, as follows: (1) each share of Class A common stock entitles the holder to one vote on matters submitted to a vote of the Company's stockholders and each share of Class B common stock entitles the holder to ten votes on each such matter; (2) stock dividends of Class A common stock may be paid only to holders of Class A common stock and stock dividends of Class B common stock may be paid only to holders of Class B common stock; (3) if a holder of Class B common stock transfers such shares to a person other than a permitted transferee, as defined in the Company's Certificate of Incorporation, such shares will be converted automatically into shares of Class A common stock; and (4) Class A common stock has no conversion rights; however, each share of Class B common stock is convertible into one share of Class A common stock, in whole or in part, at any time at the option of the holder.  All outstanding Class B shares have been converted to Class A shares.  As of December 31, 2012 and 2013, there were no preferred or Class B common shares outstanding.
 
 
 
TABLE OF CONTENTS
 
NU SKIN ENTERPRISES, INC.
Notes to Consolidated Financial Statements
 
Weighted-average common shares outstanding

The following is a reconciliation of the weighted-average common shares outstanding for purposes of computing basic and diluted net income per share (in thousands):

 
 
Year Ended December 31,
 
 
 
2011
  
2012
  
2013
 
 
 
  
  
 
Basic weighted-average common shares outstanding
  
62,066
   
60,600
   
58,606
 
Effect of dilutive securities:
            
       Stock awards and options
  
2,480
   
2,425
   
2,842
 
Diluted weighted-average common shares outstanding
  
64,546
   
63,025
   
61,448
 

 
For the years ended December 31, 2011, 2012 and 2013, other stock options totaling none, 0.1 million and 1.2 million, respectively, were excluded from the calculation of diluted earnings per share because they were anti-dilutive.

Repurchases of common stock

The board of directors has approved a stock repurchase program authorizing the Company to repurchase the Company's outstanding shares of Class A common stock on the open market or in private transactions. The repurchases are used primarily to offset dilution from the Company's equity incentive plans and for strategic initiatives. During the years ended December 31, 2011, 2012 and 2013, the Company repurchased approximately 1.9 million, 4.6 million and 1.7 million shares of Class A common stock for an aggregate price of approximately $67.1 million, $201.5 million and $140.9 million, respectively. In May 2012 and July 2013, the Company's board of directors authorized an increase of $250.0 million and $400.0 million, respectively, in the amount available under the Company's ongoing stock repurchase program. At December 31, 2013, $394.5 million was available for repurchases under the stock repurchase program.