12.

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 June 30, 2018, $1.5 million remains available for future stock repurchases under the repurchase program. Intevac did not make any stock repurchases during the three and six months ended June 30, 2018 and July 1, 2017.

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 and six months ended June 30, 2018 and July 1, 2017, are as follows.


	Three Months Ended									Six Months Ended
	June 30, 2018
	Foreign currency			Unrealized holding losses on available-for-sale investments			Total			Foreign currency			Unrealized holding losses on available-for-sale investments			Total
	(In thousands)
Beginning balance	$	639		$	(73	)	$	566		$	535		$	(45	)	$	490
Other comprehensive income (loss) before reclassification		(144	)		22			(122	)		(40	)		(6	)		(46	)
Amounts reclassified from other comprehensive income		—			—			—			—			—			—

Net current-period other comprehensive income (loss)		(144	)		22			(122	)		(40	)		(6	)		(46	)

Ending balance	$	495		$	(51	)	$	444		$	495		$	(51	)	$	444


	Three Months Ended							Six Months Ended
	July 1, 2017
	Foreign currency		Unrealized holding losses on available-for-sale investments			Total		Foreign currency		Unrealized holding losses on available-for-sale investments			Total
	(In thousands)
Beginning balance	$	377	$	(18	)	$	359	$	343	$	(22	)	$	321
Other comprehensive income (loss) before reclassification		41		(1	)		40		75		3			78
Amounts reclassified from other comprehensive income		—		—			—		—		—			—

Net current-period other comprehensive income (loss)		41		(1	)		40		75		3			78

Ending balance	$	418	$	(19	)	$	399	$	418	$	(19	)	$	399