Stockholders' Equity

6 Months Ended

Jul. 01, 2017

Stockholders' Equity

Stockholders' Equity

8. Stockholders’ Equity

Common Stock

The Company issued 0.6 million shares of common stock during the six months ended July 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 six months ended July 1, 2017. The Company repurchased 0.8 million shares of its common stock for $38.1 million during the six months ended July 2, 2016. These shares were retired upon repurchase.

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					Six Months Ended
Reclassification	July 1, 2017		July 2, 2016			July 1, 2017			July 2, 2016
Gains (losses) on cash flow hedges to:
Interest expense	$	—	$	(61	)	$	1,808		$	(127	)
Income tax benefit (provision)	—		22			(633		)	45
Total reclassifications	$	—	$	(39	)	$	1,175		$	(82	)