Stockholders' Equity

9 Months Ended

Oct. 03, 2015

Stockholders' Equity

Stockholders' Equity

9. Stockholders’ Equity

Common Stock

The Company issued 1.0 million shares of common stock during the nine months ended October 3, 2015.

Share Repurchase Programs

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

Program Authorization Date	Program Termination Date	Program Amount
August 2015	December 2016	$	100,000
October 2014	December 2015	$	100,000
January 2014	January 2015	$	100,000
January 2013	January 2014	$	50,000

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 1.6 million shares of its common stock for $71.4 million during the nine months ended October 3, 2015. The Company repurchased 1.3 million shares of its common stock for $53.9 million during the nine months ended September 27, 2014. These shares were retired upon repurchase.

Accumulated Other Comprehensive Loss

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

	Unrealized Gain (Loss) on Cash Flow Hedge			Net Unrealized Losses on Available-For-Sale Securities			Total
Balance at January 3, 2015	$	215		$	(297	)	$	(82	)
Other comprehensive loss before reclassifications	(672		)	(116		)	(788		)
Amount reclassified from accumulated other comprehensive loss	245			6			251
Net change for the period	(427		)	(110		)	(537		)
Balance at October 3, 2015	$	(212	)	$	(407	)	$	(619	)

Reclassifications From Accumulated Other Comprehensive Loss

	Three Months Ended						Nine Months Ended
Reclassification (in thousands)	October 3, 2015			September 27, 2014			October 3, 2015			September 27, 2014
Losses on cash flow hedges to:
Interest expense	$	(165	)	$	(142	)	$	(376	)	$	(428	)
Losses on available-for-sale securities to:
Interest income	—			—			(10		)	—
	(165		)	(142		)	(386		)	(428		)
Income tax benefit	58			50			135			150
Total reclassifications	$	(107	)	$	(92	)	$	(251	)	$	(278	)