Stockholders' Equity

6 Months Ended

Jul. 02, 2011

Stockholders' Equity

Stockholders' Equity

8. Stockholders’ Equity

Common Stock

     The Company issued 1.0 million shares of common stock during the six months ended July 2, 2011, net of 0.2 million shares withheld to satisfy employee tax obligations for the vesting of certain stock grants made under the Company’s stock incentive plans.

Share Repurchase Programs

     In July 2010, the Board of Directors adopted a share repurchase program to repurchase up to $150 million of the Company’s common stock through 2011. The new program became effective immediately and terminated the remaining share repurchase authorization of the prior program. The most recent prior program, which was announced in October 2009, authorized the repurchase up to $150 million of the Company’s common stock through 2010. These programs allow for repurchases to be made in the open market or in private transactions, including structured or accelerated transactions, subject to applicable legal requirements and market conditions. During the six months ended July 2, 2011, the Company repurchased 0.6 million shares of its common stock for $24.0 million. During the six months ended July 3, 2010, the Company repurchased 2.2 million shares of its common stock for $100.3 million.

Comprehensive Income

     The changes in the components of comprehensive income, net of taxes, were as follows (in thousands):

	Three Months Ended
	July 2, 2011		July 3, 2010
Net income	$	13,372	$	21,047
Net unrealized gains on available-for-sale securities, net of tax of $(205) and $(166), respectively	381		308
Net unrealized gains (losses) on cash flow hedges, net of tax of $(24) and $65, respectively	44		(120		)
Comprehensive income	$	13,797	$	21,235

	Six Months Ended
	July 2, 2011		July 3, 2010
Net income	$	11,412	$	42,126
Net unrealized gains on available-for-sale securities, net of tax of $(49) and $(697), respectively	91		1,294
Net unrealized gains (losses) on cash flow hedges, net of tax of $(305) and $73, respectively	565		(136		)
Comprehensive income	$	12,068	$	43,284

Accumulated Other Comprehensive Loss

     The components of accumulated other comprehensive loss, net of taxes, were as follows (in thousands):

	Unrealized Losses on Cash Flow Hedges			Net Unrealized Losses  on Available-For-Sale Securities			Total
Balance at January 1, 2011	$	(2,477	)	$	(1,171	)	$	(3,648	)
Change associated with current period transactions, net of tax	(277		)	91			(186		)
Amount reclassified into earnings, net of tax	842			—			842
Balance at July 2, 2011	$	(1,912	)	$	(1,080	)	$	(2,992	)