Stockholders' Equity

9 Months Ended

Oct. 01, 2016

Stockholders' Equity

Stockholders' Equity

8. Stockholders’ Equity

Common Stock

The Company issued 0.8 million shares of common stock during the nine months ended October 1, 2016.

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

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 0.9 million shares of its common stock for $40.5 million during the nine months ended October 1, 2016. The Company repurchased 1.6 million shares of its common stock for $71.4 million during the nine months ended October 3, 2015.  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 2, 2016	$	60		$	(567	)	$	(507	)
Other comprehensive loss before reclassifications	(137		)	(89		)	(226		)
Amount reclassified from accumulated other comprehensive loss	124			—			124
Net change for the period	(13		)	(89		)	(102		)
Balance at October 1, 2016	$	47		$	(656	)	$	(609	)

Reclassifications From Accumulated Other Comprehensive Loss

The following table summarizes the effect on net income from reclassifications out of accumulated other comprehensive loss (in thousands):

	Three Months Ended						Nine Months Ended
Reclassification	October 1,  2016			October 3, 2015			October 1,  2016			October 3, 2015
Losses on cash flow hedges to:
Interest expense	$	(64	)	$	(165	)	$	(191	)	$	(376	)
Losses on available-for-sale securities to:
Interest income	—			—			—			(10		)
	(64		)	(165		)	(191		)	(386		)
Income tax benefit	22			58			67			135
Total reclassifications	$	(42	)	$	(107	)	$	(124	)	$	(251	)