Stockholders' Equity

3 Months Ended

Apr. 01, 2017

Stockholders' Equity

Stockholders' Equity

8. Stockholders’ Equity

Common Stock

The Company issued 0.5 million shares of common stock during the three months ended April 1, 2017.

Share Repurchase Programs

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

Program Authorization Date	Program Termination Date	Program Amount
January 2017	December 2017	$	100,000
August 2015	December 2016	$	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 did not repurchase any shares of its common stock during the three months ended April 1, 2017. The Company repurchased 0.4 million shares of its common stock for $18.5 million during the three months ended April 2, 2016. These shares were retired upon repurchase.

Accumulated Other Comprehensive Income (Loss)

The components of accumulated other comprehensive income (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 31, 2016	$	1,175		$	(683	)	$	492
Other comprehensive income (loss) before reclassifications	—			158			158
Amount reclassified from accumulated other comprehensive income (loss)	(1,175		)	—			(1,175		)
Net change for the period	(1,175		)	158			(1,017		)
Balance at April 1, 2017	$	—		$	(525	)	$	(525	)

Reclassifications From Accumulated Other Comprehensive Income (Loss)

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

	Three Months Ended
Reclassification	April 1, 2017			April 2, 2016
Gains (losses) on cash flow hedges to:
Interest expense	$	1,808		$	(66	)
Income tax benefit	(633		)	23
Total reclassifications	$	1,175		$	(43	)