Stockholders' Equity

9 Months Ended

Oct. 01, 2011

Stockholders' Equity

Stockholders' Equity

8. Stockholders’ Equity

Common Stock

The Company issued 1.1 million shares of common stock during the nine months ended October 1, 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 program became effective immediately and terminated the remaining share repurchase authorization of the prior program. The prior program, which was announced in October 2009, authorized the repurchase up to $150 million of the Company’s common stock through 2010. The program adopted in July 2010 was completed in August 2011. In October 2011, the Board of Directors adopted a new share repurchase program to repurchase up to $50 million of the Company’s common stock through April 2012. These programs allowed 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 nine months ended October 1, 2011, the Company repurchased 3.2 million shares of its common stock for $110.0 million. During the nine months ended October 2, 2010, the Company repurchased 3.3 million shares of its common stock for $140.3 million.

Comprehensive Income

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

	Three Months Ended
	October 1, 2011		October 2, 2010
Net income	$	11,255	$	18,233
Net unrealized gains on available-for-sale securities, net of tax of $(104) and $(109), respectively	192		203
Net unrealized gains (losses) on cash flow hedges, net of tax of $(145) and $16, respectively	270		(29		)
Comprehensive income	$	11,717	$	18,407

	Nine Months Ended
	October 1, 2011		October 2, 2010
Net income	$	22,667	$	60,359
Net unrealized gains on available-for-sale securities, net of tax of $(152) and $(806), respectively	283		1,498
Net unrealized gains (losses) on cash flow hedges, net of tax of $(450) and $89, respectively	835		(165		)
Comprehensive income	$	23,785	$	61,692

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	(320		)	283			(37		)
Amount reclassified into earnings, net of tax	1,155			—			1,155
Balance at October 1, 2011	$	(1,642	)	$	(888	)	$	(2,530	)