Accumulated Stockholders' Equity (Deficit)

12 Months Ended

Sep. 30, 2014

Accumulated Stockholders' Equity (Deficit)

Accumulated Stockholders' Equity (Deficit)

5. Accumulated Stockholders' Equity (Deficit)

The Company is authorized to issue up to 500.0 million shares of common stock with a par value of $0.01 per share and up to 50.0 million shares of preferred stock with a par value of $0.01 per share. As of September 30, 2014, the Company had approximately 155.1 million shares issued of its common stock and approximately 154.7 million shares outstanding. There have been no shares of the Company's preferred stock issued.

In March 2013, we announced that our Board of Directors approved a share repurchase program authorizing us to repurchase up to $700.0 million of our common stock (the "2013 Share Repurchase Program"). In addition, in August 2014, we announced that our Board of Directors approved a new share repurchase program authorizing us to repurchase up to $1.0 billion of our common stock over the period from August 20, 2014 to September 30, 2017 (the "2014 Share Repurchase Program"). In connection with the authorization of the 2014 Share Repurchase Program, the 2013 Share Repurchase Program was terminated. Prior to termination of the 2013 Share Repurchase Program, the Company had repurchased and retired approximately 21.1 million shares of its common stock (including approximately 8.5 million shares prior to the fiscal year ended September 30, 2014) at a cost of $576.6 million under the 2013 Share Repurchase Program. The 2014 Share Repurchase Program expires on September 30, 2017.

For fiscal years 2014 and 2013, we repurchased and retired approximately 12.6 million and 18.9 million shares, respectively, of our common stock at a cost of $333.3 million and $509.7 million, respectively. In addition, during the fiscal year ended September 30, 2012, we repurchased and retired approximately 7.6 million shares of our common stock from two venture capital investment funds associated with Clayton, Dubilier & Rice, LLC (the "CDR Investors") at a cost of $200.0 million. Please see our Annual Report on Form 10-K for the fiscal year ended September 30, 2012, for more information about the CDR Investors. We funded these share repurchases with a portion of the cash proceeds from our September 2012 and October 2013 debt issuances, cash from operations and borrowings under the ABL facility. The Company reduced common stock and additional paid-in capital, in the aggregate, by these amounts. As required by GAAP, the Company recorded any amounts paid to repurchase shares in excess of the balance of additional paid-in capital in accumulated deficit.

At September 30, 2014 and September 30, 2013, accumulated other comprehensive loss consists of cumulative foreign currency translation adjustments of $28.5 million and $9.8 million, respectively, and is net of income taxes of $2.3 million and $2.9 million, respectively. Comprehensive income reflects changes in accumulated stockholders' equity (deficit) from sources other than transactions with stockholders and, as such, includes net earnings and certain other specified components. Currently, the Company's only component of comprehensive income, other than net earnings, is foreign currency translation adjustments, net of income tax.