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Stockholders' Equity
 3 Months Ended
Apr. 03, 2016
Equity [Abstract]  
Stockholders' Equity
Stockholders’ Equity

Stockholders’ Equity

The following is a summary of the changes in stockholders’ equity:
 
Three Months Ended
 
April 3,
2016
 
March 29,
2015
Balance at beginning of period
$
752,914

 
$
1,717,576

Comprehensive income
38,484

 
7,443

Cash dividends
(16,214
)
 
(20,199
)
Repurchases of common stock
(48,268
)
 
(36,963
)
Share-based compensation
5,081

 
5,068

Exercises of stock options
3,216

 
16,533

Vesting of restricted shares
(2,378
)
 
(502
)
Tax benefit from share-based compensation
708

 
26,858

Other
46

 
46

Balance at end of period
$
733,589

 
$
1,715,860



Repurchases of Common Stock

On June 1, 2015, our Board of Directors authorized a repurchase program for up to $1,400,000 of our common stock through January 1, 2017, when and if market conditions warrant and to the extent legally permissible. During the three months ended April 3, 2016, the Company repurchased 4,885 shares with an aggregate purchase price of $48,195, of which $2,367 was accrued at April 3, 2016 and excluding commissions of $73. As of April 3, 2016, the Company had $329,961 remaining availability under its June 2015 authorization. Subsequent to April 3, 2016 through May 5, 2016, the Company repurchased 1,981 shares with an aggregate purchase price of $21,855, excluding commissions of $30.

In August 2014, our Board of Directors authorized a repurchase program for up to $100,000 of our common stock through December 31, 2015, when and if market conditions warrant and to the extent legally permissible. During the three months ended March 29, 2015, the Company repurchased 3,342 shares with an aggregate purchase price of $36,912, excluding commissions of $51. The August 2014 authorization was completed during the third quarter of 2015.

Accumulated Other Comprehensive Loss

The following table provides a rollforward of the components of accumulated other comprehensive loss, net of tax as applicable:
 
Foreign Currency Translation
 
Cash Flow Hedges (a)
 
Pension
 
Total
Balance at January 3, 2016
$
(66,163
)
 
$
(3,571
)
 
$
(1,089
)
 
$
(70,823
)
Current-period other comprehensive income
12,676

 
445

 
—

 
13,121

Balance at April 3, 2016
$
(53,487
)
 
$
(3,126
)
 
$
(1,089
)
 
$
(57,702
)
 
 
 
 
 
 
 
 
Balance at December 28, 2014
$
(28,363
)
 
$
(2,044
)
 
$
(887
)
 
$
(31,294
)
Current-period other comprehensive loss
(17,395
)
 
(2,466
)
 
(203
)
 
(20,064
)
Balance at March 29, 2015
$
(45,758
)
 
$
(4,510
)
 
$
(1,090
)
 
$
(51,358
)
_______________

(a)
Current-period other comprehensive loss for the three months ended March 29, 2015 includes the effect of changes in unrealized losses on cash flow hedges, net of tax. The three months ended April 3, 2016 includes the reclassification of unrealized losses on cash flow hedges of $445 from “Accumulated other comprehensive loss” to our condensed consolidated statements of operations consisting of $723 recorded to “Interest expense,” net of the related income tax benefit of $278 recorded to “Provision for income taxes.” See Note 7 for more information.

The cumulative gains and losses on these items are included in “Accumulated other comprehensive loss” in the condensed consolidated balance sheets.