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Treasury Stock
9 Months Ended
Oct. 02, 2011
Treasury Stock [Abstract] 
Treasury Stock

NOTE K – Treasury Stock

Common stock held in treasury totaled 20,467,363 shares with a cost of $298.3 million at October 2, 2011 and 20,320,759 with a cost of $297.0 million at December 31, 2010. Approximately 6.4 million shares are available for future issuances.

In May 2008, CTS’ Board of Directors authorized a program to repurchase up to one million shares of its common stock in the open market at a maximum price of $13 per share. The authorization has no expiration. Reacquired shares will be used to support equity-based compensation programs and for other corporate purposes. During the second quarter of 2011, 35,500 shares were repurchased at a cost of approximately $326,000 or $9.19 per share, under this program. During the third quarter of 2011, 111,104 were repurchased at a cost of approximately $1.0 million or $9.10 per share, under this program. No shares were repurchased under this program in 2010.