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Treasury Stock
3 Months Ended
Jul. 01, 2012
Treasury Stock [Abstract]  
Treasury Stock

NOTE K — Treasury Stock

Common stock held in treasury totaled 21,296,593 shares with a cost of $306.2 million at July 1, 2012 and 20,724,106 shares with a cost of $300.6 million at December 31, 2011. Approximately 7.5 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 first half of 2012, 572,487 shares were repurchased at a cost of approximately $5.6 million or $9.86 per share.