NOTE J — OTHER

Cash dividends

On March 12, 2013, the Board of Directors declared a quarterly dividend of $0.03125 per share payable on May 15, 2013 to shareholders of record on May 1, 2013. As of March 31, 2013, the Company had accrued $401,000 for the payment of the dividend.

On January 11, 2012, the Board of Directors declared a quarterly dividend of $0.025 payable on February 15, 2012 to shareholders of record on February 1, 2012. On March 6, 2012, the Board of Directors declared a quarterly dividend of $0.025 per share payable on May 15, 2012 to shareholders of record on May 1, 2012.

Subsequent events

Stock repurchase program

On April 30, 2013, Lifetime’s Board of Directors authorized the repurchase of up to $10 million of the Company’s common stock. The repurchase authorization permits the Company to effect the repurchases from time to time through open market purchases and privately negotiated transactions.

Stock option grant

On April 30, 2013, the Board of Directors granted, effective as of May 7, 2013, options to purchase a total of 290,800 shares of the Company’s common stock. The exercise price will equal the closing price of the Company’s common stock on the effective date.

Supplemental cash flow information


	Three Months Ended March 31,
	2013			2012
	(in thousands)
Supplemental disclosure of cash flow information:
Cash paid for interest	$	908		$	1,476
Cash paid for taxes		4,375			1,760

Non-cash investing activities:
Translation adjustment	$	(1,125	)	$	(2,081	)

Components of accumulated other comprehensive loss, net


	Three Months Ended March 31,
	2013			2012
	(in thousands)
Accumulated translation adjustment:
Balance at beginning of period	$	(2,804	)	$	(5,881	)
Translation gain during period		1,125			2,081

Balance at end of period	$	(1,679	)	$	(3,800	)

Accumulated effect of retirement benefit obligations:
Balance at beginning of period	$	(1,160	)	$	—
Amounts reclassified from accumulated other comprehensive loss:
Amortization of acturial losses, net of tax of $9		13			—

Balance at end of period	$	(1,147	)	$	—

Accumulated deferred losses on cash flow hedges:
Balance at beginning of period	$	(272	)	$	—
Derivative fair value adjustment, net of tax of $9		13			—

Balance at end of period	$	(259	)	$	—

Reclassifications out of accumulated other comprehensive loss

For the Three Months Ended March 31, 2013


Accumulated other comprehensive loss component	Amount reclassified			Statement of Operations line item
Amortization of retirement benefit obligation items (in thousands):
Actuarial losses before tax	$	(22	)
Tax benefit		9

Actuarial losses net of tax	$	(13	)	Selling, general and administrative expenses