Stockholders' Equity

9 Months Ended

Sep. 27, 2014

Stockholders' Equity

Stockholders' Equity

8. Stockholders’ Equity

Common Stock

The Company issued 1.0 million shares of common stock during the nine months ended September 27, 2014.

Share Repurchase Programs

The Board of Directors authorized the following share repurchase programs (in thousands):

Program Authorization Date	Program Termination Date	Program Amount
October 2014	December 2015	$	100,000
January 2014	October 2014	$	100,000
January 2013	January 2014	$	50,000
April 2012	January 2013	$	100,000

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. The Company repurchased 1.3 million shares of its common stock for $53.9 million during the nine months ended September 27, 2014. The Company repurchased 0.2 million shares of its common stock for $7.8 million during the nine months ended September 28, 2013. These shares were retired upon repurchase. In October 2014, the Board of Directors authorized a program to repurchase up to $100 million of the Company’s common stock through December 2015 (and terminated the $35.6 million remaining authorization under the previously announced share repurchase program).

Accumulated Other Comprehensive Loss

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

	Unrealized Gain on Cash Flow Hedge			Net Unrealized Losses on Available-For-Sale Securities			Total
Balance at December 28, 2013	$	333		$	(1,017	)	$	(684	)
Other comprehensive income (loss) before reclassifications	(282		)	578			296
Amount reclassified from accumulated other comprehensive loss	278			—			278
Net change for the period	(4		)	578			574
Balance at September 27, 2014	$	329		$	(439	)	$	(110	)

Reclassifications From Accumulated Other Comprehensive Loss

	Three Months Ended						Nine Months Ended
Reclassification (in thousands)	September 27,  2014			September 28,  2013			September 27,  2014			September 28,  2013
Losses on cash flow hedges to:
Interest expense	$	(142	)	$	(96	)	$	(428	)	$	(418	)
Gains on available-for-sales securities to:
Interest income	—			—			—			232
	(142		)	(96		)	(428		)	(186		)
Income tax benefit	50			33			150			65
Total reclassifications	$	(92	)	$	(63	)	$	(278	)	$	(121	)