Notes to Consolidated Financial Statements – (continued)
(Amounts in Millions, Except Per Share Amounts)
Vendor Discounts and Credit Adjustments – In connection with the liabilities related to vendor discounts and credits established as part of the restatement we presented in our 2004 Annual Report on Form 10-K, these adjustments reflect the reversal of certain of these liabilities primarily where the statute of limitations has lapsed, or as a result of differences resulting from settlements with clients or vendors.
Other Income (Expense), net – During 2015, we recorded a gain related to foreign currency forward exchange contracts within our Corporate and other segment. During 2014, we recorded an other-than-temporary impairment on an investment in an unconsolidated affiliate in the Asia Pacific region within our IAN segment. During 2013, other income (expense), net primarily included a non-cash gain on re-measurement to fair value of an equity interest in an affiliate, located in the Asia Pacific region within our CMG segment, upon acquiring a controlling interest.
Share Repurchase Program
In February 2013, our Board of Directors (the "Board") authorized a new share repurchase program to repurchase from time to time up to $300.0, excluding fees, of our common stock (the "2013 Share Repurchase Program"). In March 2013, the Board authorized an increase in the amount available under our 2013 Share Repurchase Program up to $500.0, excluding fees, of our common stock to be used towards the repurchase of shares resulting from the conversion to common stock of the 4.75% Notes. In February 2014, the Board authorized a new share repurchase program to repurchase from time to time up to $300.0, excluding fees, of our common stock (the "2014 Share Repurchase Program"). In February 2015, the Board authorized a new share repurchase program to repurchase from time to time up to $300.0, excluding fees, of our common stock (the "2015 Share Repurchase Program").
We may effect such repurchases through open market purchases, trading plans established in accordance with SEC rules, derivative transactions or other means. We expect to continue to repurchase our common stock in future periods, although the timing and amount of the repurchases will depend on market conditions and other funding requirements.
The following table presents our share repurchase activity under our share repurchase programs.
Years ended December 31,
Number of shares repurchased
Aggregate cost, including fees
Average price per share, including fees
We fully utilized the 2013 Share Repurchase Program in the third quarter of 2014 and the 2014 Share Repurchase Program in the third quarter of 2015. As of December 31, 2015, $158.6 remained available for repurchase under the 2015 Share Repurchase Program. The 2015 Share Repurchase Program has no expiration date.
Supplemental Cash Flow Information
Years ended December 31,
Cash paid for interest
Cash paid for income taxes, net of refunds 1
Refunds of $13.0, $21.3 and $15.0 were received for the years ended December 31, 2015, 2014 and 2013, respectively.