NOTE K — OTHER

Cash dividends

Dividends declared in the six months ended June 30, 2014 are as follows:


Dividend per share		Date declared	Date of record	Payment date
$	0.03750	March 11, 2014	May 1, 2014	May 15, 2014
$	0.03750	June 19, 2014	August 1, 2014	August 15, 2014

On February 15, 2014 and May 15, 2014, the Company paid cash dividends of $501,000 and $506,000, respectively, which reduced retained earnings. In the three months ended June 30, 2014, the Company reduced retained earnings for the accrual of $507,000 relating to the dividend payable on August 15, 2014.

On July 29, 2014, the Board of Directors declared a quarterly dividend of $0.0375 per share payable on November 14, 2014 to shareholders of record on October 31, 2014.

Dividends declared in the six months ended June 30, 2013 are as follows:


Dividend per share		Date declared	Date of record	Payment date
$	0.031	March 12, 2013	May 1, 2013	May 15, 2013
$	0.031	June 13, 2013	August 1, 2013	August 15, 2013

Stock repurchase program

On April 30, 2013, Lifetime’s Board of Directors authorized the repurchase of up to $10.0 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. During the three months ended June 30, 2013, the Company repurchased 245,575 shares under the April 2013 authorization at a total cost of $3.2 million and thereafter retired the shares. No shares were repurchased during the three and six months ended June 30, 2014.

Supplemental cash flow information


	Six Months Ended June 30,
	2014			2013
	(in thousands)
Supplemental disclosure of cash flow information:
Cash paid for interest	$	2,421		$	1,842
Cash paid for taxes		4,406			4,891

Non-cash investing activities:
Translation adjustment	$	(1,732	)	$	390

Components of accumulated other comprehensive loss, net


	Three Months Ended June 30,						Six Months Ended June 30,
	2014			2013			2014			2013
	(in thousands)
Accumulated translation adjustment:
Balance at beginning of period	$	(2,254	)	$	(1,679	)	$	(2,944	)	$	(2,804	)
Translation gain (loss) during period		1,042			(1,515	)		1,732			(390	)

Balance at end of period	$	(1,212	)	$	(3,194	)	$	(1,212	)	$	(3,194	)


Accumulated deferred losses on cash flow hedges:
Balance at beginning of period	$	(22	)	$	(259	)	$	(31	)	$	(272	)
Derivative fair value adjustment, net of taxes of $29 and $154 for the three months ended June 30, 2014 and June 30, 2013, respectively, and $23 and $163 for the six months ended June 30, 2014 and June 30, 2013, respectively		(43	)		231			(34	)		244

Balance at end of period	$	(65	)	$	(28	)	$	(65	)	$	(28	)


Accumulated effect of retirement benefit obligations:
Balance at beginning of period	$	(738	)	$	(1,147	)	$	(745	)	$	(1,160	)
Amounts reclassified from accumulated other comprehensive loss: ⁽¹⁾
Amortization of actuarial losses, net of taxes of $5 and $9 for the three months ended June 30, 2014 and 2013, respectively, and $9 and $18 for the six months ended June 30, 2014 and 2013, respectively		7			13			14			26

Balance at end of period	$	(731	)	$	(1,134	)	$	(731	)	$	(1,134	)


Total accumulated other comprehensive loss at end of period	$	(2,008	)	$	(4,356	)	$	(2,008	)	$	(4,356	)

(1)	Amounts are recorded in selling, general and administrative expense on the Condensed consolidated statements of operations.