11.

Equity

Stock Repurchase Program

On November 21, 2013, Intevac’s Board of Directors approved a stock repurchase program authorizing up to $30.0 million in repurchases. At July 2, 2016, $1.5 million remains available for future stock repurchases under the repurchase program.

The following table summarizes Intevac’s stock repurchases:


	Three Months Ended				Six Months Ended
	July 2, 2016		July 4, 2015		July 2, 2016		July 4, 2015
	(In thousands, except per share amounts)
Shares of common stock repurchased		—		1,128		—		1,571
Cost of stock repurchased	$	—	$	6,293	$	—	$	9,280
Average price paid per share	$	—	$	5.55	$	—	$	5.88

Intevac records treasury stock purchases under the cost method using the first-in, first-out (FIFO) method. Upon reissuance of treasury stock, amounts in excess of the acquisition cost are credited to additional paid-in capital. If Intevac reissues treasury stock at an amount below its acquisition cost and additional paid-in capital associated with prior treasury stock transactions is insufficient to cover the difference between the acquisition cost and the reissue price, this difference is recorded against accumulated deficit.

Accumulated Other Comprehensive Income

The changes in accumulated other comprehensive income by component for the three and six months ended July 2, 2016 and July 4, 2015, are as follows.


	Three Months Ended								Six Months Ended
	July 2, 2016
	Foreign currency			Unrealized holding gains on available- for-sale investments		Total			Foreign currency		Unrealized holding gains on available- for-sale investments			Total
	(In thousands)
Beginning balance	$	519		$	4	$	523		$	452	$	(40	)	$	412
Other comprehensive income (loss) before reclassification		(45	)		13		(32	)		22		57			79
Amounts reclassified from other comprehensive income		—			—		—			—		—			—

Net current-period other comprehensive income (loss)		(45	)		13		(32	)		22		57			79

Ending balance	$	474		$	17	$	491		$	474	$	17		$	491


	Three Months Ended									Six Months Ended
	July 4, 2015
	Foreign currency			Unrealized holding gains on available- for-sale investments			Total			Foreign currency			Unrealized holding gains on available- for-sale investments			Total
	(In thousands)
Beginning balance	$	620		$	28		$	648		$	620		$	(1	)	$	619
Other comprehensive income (loss) before reclassification		(35	)		(4	)		(39	)		(35	)		25			(10	)
Amounts reclassified from other comprehensive income		—			—			—			—			—			—

Net current-period other comprehensive income (loss)		(35	)		(4	)		(39	)		(35	)		25			(10	)

Ending balance	$	585		$	24		$	609		$	585		$	24		$	609