Equity

3 Months Ended

Mar. 30, 2019

Equity

13. Equity

Condensed Consolidated Statements of Changes in Equity

The changes in stockholders’ equity by component for the three months ended March 30, 2019 and March 31, 2018, are as follows (in thousands):

	Three Months Ended March 30, 2019
	Common
	Stock and					Accumulated
	Additional					Other					Total
	Paid-in		Treasury			Comprehensive		Accumulated			Stockholders’
	Capital		Stock			Income		Deficit			Equity
Balance at December 29, 2018	$	183,227	$	(29,047	)	$	378	$	(64,934	)	$	89,624
Common stock issued under employee plans		993		—			—		—			993
Equity-based compensation expense		756		—			—		—			756
Net loss		—		—			—		(2,392	)		(2,392	)
Other comprehensive income		—		—			106		—			106
Balance at March 30, 2019	$	184,976	$	(29,047	)	$	484	$	(67,326	)	$	89,087

	Three Months Ended March 31, 2018
	Common
	Stock and					Accumulated
	Additional					Other					Total
	Paid-in		Treasury			Comprehensive		Accumulated			Stockholders’
	Capital		Stock			Income		Deficit			Equity
Balance at December 30, 2017	$	177,543	$	(28,489	)	$	490	$	(66,881	)	$	82,663
Cumulative effect of accounting change		—		—			—		(1,634	)		(1,634	)
Common stock issued under employee plans		1,732		—			—		—			1,732
Equity-based compensation expense		817		—			—		—			817
Net loss		—		—			—		(5,136	)		(5,136	)
Other comprehensive income		—		—			76		—			76
Balance at March 30, 2018	$	180,092	$	(28,489	)	$	566	$	(73,651	)	$	78,518

Accumulated Other Comprehensive Income

The changes in accumulated other comprehensive income by component for the three months ended March 30, 2019 and March 31, 2018, are as follows:

	Three Months Ended
	March 30, 2019							March 31, 2018
	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	$	405	$	(27	)	$	378	$	535	$	(45	)	$	490
Other comprehensive income before reclassification		61		45			106		104		(28	)		76
Amounts reclassified from other comprehensive income		—		—			—		—		—			—
Net current-period other comprehensive income		61		45			106		104		(28	)		76
Ending balance	$	466	$	18		$	484	$	639	$	(73	)	$	566

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. On August 15, 2018, Intevac’s Board of Directors approved a $10.0 million increase to the original stock repurchase program for an aggregate authorized amount of up to $40.0 million. At March 30, 2019, $10.9 million remains available for future stock repurchases under the repurchase program. Intevac did not make any stock repurchases during the three months ended March 30, 2019 and March 30, 2018, 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.