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Stockholders' Equity
 3 Months Ended
Apr. 02, 2017
Equity [Abstract]  
Stockholders' Equity
Stockholders’ Equity

Stockholders’ Equity

The following is a summary of the changes in stockholders’ equity:
 
Three Months Ended
 
April 2,
2017
 
April 3,
2016
Balance at beginning of period
$
527,736

 
$
752,914

Comprehensive income
24,827

 
38,484

Cash dividends
(17,273
)
 
(16,214
)
Repurchases of common stock
(17,823
)
 
(48,268
)
Share-based compensation
3,559

 
5,081

Exercises of stock options
4,418

 
3,216

Vesting of restricted shares
(2,518
)
 
(2,378
)
Cumulative effect of change in accounting principle (a)
1,880

 
—

Tax benefit from share-based compensation
—

 
708

Other
43

 
46

Balance at end of period
$
524,849

 
$
733,589


_______________

(a)
During the three months ended April 2, 2017, the Company recognized a tax benefit as a reduction to the Company’s deferred tax liability with an equal offsetting increase to “Accumulated deficit.” The adjustment was recognized as a result of adoption of an amendment to the accounting for employee share-based payment transactions. See Note 15 for further information.

Repurchases of Common Stock

In February 2017, our Board of Directors authorized a repurchase program for up to $150,000 of our common stock through March 4, 2018, when and if market conditions warrant and to the extent legally permissible. During the three months ended April 2, 2017, the Company repurchased 1,319 shares with an aggregate purchase price of $17,803, of which $1,797 was accrued at April 2, 2017 and excluding commissions of $20. Subsequent to April 2, 2017 through May 4, 2017, the Company repurchased 803 shares with an aggregate purchase price of $11,215, excluding commissions of $12.

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 warranted 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, excluding commissions of $73.

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 1, 2017
$
(60,299
)
 
$
(1,797
)
 
$
(1,145
)
 
$
(63,241
)
Current-period other comprehensive income
1,945

 
445

 
96

 
2,486

Balance at April 2, 2017
$
(58,354
)
 
$
(1,352
)
 
$
(1,049
)
 
$
(60,755
)
 
 
 
 
 
 
 
 
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
)
_______________

(a)
Current-period other comprehensive income includes the reclassification of unrealized losses on cash flow hedges from “Accumulated other comprehensive loss” to our condensed consolidated statements of operations of $445 for both the three months ended April 2, 2017 and April 3, 2016. The reclassification of unrealized losses on cash flow hedges consists of $723 recorded to “Interest expense,” net of the related income tax benefit of $278 recorded to “Provision for income taxes.” See Note 6 for more information.