The Company’s global Health, Safety and Environmental management  systems implemented in 2013 resulted in a steady reduction in incident  rates. Our total recordable incident rate has dropped significantly  throughout the year on a global basis and is a testament to our em- ployees’ commitment to these programs. This is only the beginning –  maintaining a safe work place and protecting the environment is a  primary objective of the Company now and in the future. Dril-Quip  continues to move from a Quality Control system focused on  inspecting out non-conforming parts at the back-end of the manufac - turing process to a Quality Assurance program that assesses design and  manufacturing risk. Data from this assessment is used to create front-end  controls to avoid non-conformances in our pursuit to produce conforming  parts every time with no rework. This effort was aggressively moved  upstream into the product design and manufacturing processes utilizing  Advanced Product Quality Planning (APQP) tools and was introduced  in Houston, Aberdeen and Singapore operations during 2014.  Cross-functional teams laid the groundwork for an ongoing  effort to ensure that the Company’s products are safely manu- factured to our normal high quality standards while minimizing  non-conformances, resulting in reduced costs and improved  delivery times. Customers have indicated that the Company will  be setting a new standard for quality systems once the APQP  process is fully implemented.  In 2014, we repurchased $190 million of Company stock, which is almost  double the aggregate dollar amount that the Company has repurchased  since going public. More than half of those repurchases in 2014 occurred in  the latter half of the year after our stock price started to decline. Dril-Quip  2014 Annual Report 8