Equity

3 Months Ended

Apr. 01, 2017

Equity

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 April 1, 2017, $1.5 million remains available for future stock repurchases under the repurchase program. Intevac did not make any stock repurchases during the three months ended April 1, 2017 and April 2, 2016, respectively.

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 retained earnings.

Accumulated Other Comprehensive Income

The changes in accumulated other comprehensive income by component for the three months ended April 1, 2017 and April 2, 2016, are as follows.

	Three Months Ended							Three Months Ended
	April 1, 2017							April 2, 2016
	Foreign currency		Unrealized holding gains (losses) on available- for-sale investments			Total		Foreign currency		Unrealized holding gains (losses) on available- for-sale investments			Total
	(In thousands)
Beginning balance	$	343	$	(22	)	$	321	$	452	$	(40	)	$	412
Other comprehensive income before reclassification		34		4			38		67		44			111
Amounts reclassified from other comprehensive income		—		—			—		—		—			—
Net current-period other comprehensive income		34		4			38		67		44			111
Ending balance	$	377	$	(18	)	$	359	$	519	$	4		$	523