Stockholders' (Deficit) Equity

6 Months Ended

Jun. 30, 2011

Stockholders' (Deficit) Equity

Stockholders' (Deficit) Equity

Note 6. Stockholders' (Deficit) Equity

Comprehensive (Loss) Income

Comprehensive (loss) income consists of Net (loss) income adjusted for realized and unrealized gains on marketable securities classified as available-for-sale and foreign currency translation adjustments. The following table presents the components of comprehensive (loss) income:

	Three Months Ended June 30,						Six Months Ended June 30,
	2011			2010			2011			2010
	(In thousands)
Net (loss) income	$	(10,610	)	$	36,374		$	30,161		$	88,814
Foreign currency translation adjustments		48			4,617			76			4,091
Change in unrealized gain on investments, net of tax		1,077			2,982			609			2,742
Realized gain on investments, net of tax, included in net (loss) income		(1,398	)		(106	)		(1,415	)		(152	)
Comprehensive (loss) income		(10,883	)		43,867			29,431			95,495
Less: Comprehensive income attributable to noncontrolling interest in subsidiary		—			3,288			—			4,181
Comprehensive (loss) income attributable to Verisign stockholders	$	(10,883	)	$	40,579		$	29,431		$	91,314

Repurchase of Common Stock

On July 27, 2010, the Company's Board of Directors ("Board") authorized the repurchase of up to approximately $1.1 billion of common stock, in addition to the $393.6 million of its common stock remaining available for repurchase under the previous 2008 Share Buyback Program, for a total repurchase authorization of up to $1.5 billion of its common stock (collectively, the "2010 Share Buyback Program"). The 2010 Share Buyback Program has no expiration date. During the three and six months ended June 30, 2011, the Company repurchased 2.8 million and 8.4 million shares of its common stock, respectively, at an average stock price of $35.90 and $35.66, respectively. The aggregate cost of the repurchases under the 2010 Share Buyback Program in the three and six months ended June 30, 2011 was $100.0 million and $299.6 million, respectively. As of June 30, 2011, $1.1 billion remained available for further repurchases under the 2010 Share Buyback Program.

During the three and six months ended June 30, 2011, the Company placed 0.1 million and 0.3 million shares, respectively, at an average stock price of $36.36 and $35.00, respectively, for an aggregate cost of $3.2 million and $11.1 million, respectively, into treasury stock to cover tax withholdings upon vesting of Restricted Stock Units ("RSUs").

Since inception the Company has repurchased 149.3 million shares of its common stock for an aggregate cost of $4.4 billion, which is recorded as a reduction of Additional paid-in capital.

Special Dividend

On April 27, 2011, the Board declared a special dividend of $2.75 per share of the Company's common stock, totaling approximately $463.5 million, which was paid on May 18, 2011. The special dividend was accounted for as a reduction of Additional paid-in capital.