Stockholders' Equity

12 Months Ended

Dec. 31, 2014

Stockholders' Equity.

Stockholders' Equity

Note 15 — Stockholders’ Equity

Accumulated Other Comprehensive Income

The following table presents the changes in the balances of each component of AOCI, net of tax:

	Foreign			Minimum			Unrealized
	Currency			Pension			Gains (losses) on
	Translation			Liability			AFS Securities			Total
	(in thousands)
Balance at December 31, 2012	$	6,701		$	(775	)	$	47		$	5,973
Other comprehensive income (loss) before reclassifications	(1,322		)	125			34			(1,163		)
Benefit (provision) for income taxes	(53		)	(86		)	11			(128		)
Amounts reclassified from AOCI	—			—			(61		)	(61		)
Other comprehensive income (loss)	(1,375		)	39			(16		)	(1,352		)
Balance at December 31, 2013	5,326			(736		)	31			4,621
Other comprehensive income (loss) before reclassifications	149			(145		)	51			55
Amounts reclassified from AOCI	(3,142		)	—			(65		)	(3,207		)
Other comprehensive income (loss)	(2,993		)	(145		)	(14		)	(3,152		)
Balance at December 31, 2014	$	2,333		$	(881	)	$	17		$	1,469

During the 2014, the Company completed its plan to liquidate its subsidiary in Japan, since the Company moved to a distributor model to serve its customers in that region. As a result of the liquidation, a cumulative translation gain of $3.1 million was reclassified from Other Comprehensive Income to “Other, net” on the Consolidated Statements of Operations.

Preferred Stock

The Board of Directors has authority under the Company’s Certificate of Incorporation to issue shares of preferred stock with voting and economic rights to be determined by the Board of Directors.

Treasury Stock

On August 24, 2010, the Board of Directors authorized the repurchase of up to $200 million of the Company’s common stock. All funds for this repurchase program were exhausted during fiscal year 2011, and during fiscal year 2012, the Company cancelled and retired the 5,278,828 shares of treasury stock previously purchased. During 2012 the Company recorded a reduction in treasury stock of $200.2 million and a corresponding reduction of $200.1 million and $0.1 million in retained earnings and common stock, respectively.