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Stockholders' Equity
 6 Months Ended
Jul. 02, 2017
Equity [Abstract]  
Stockholders' Equity
Stockholders’ Equity

Stockholders’ Equity

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

 
$
752,914

Comprehensive income
29,490

 
66,931

Cash dividends
(34,447
)
 
(32,152
)
Repurchases of common stock
(52,501
)
 
(109,348
)
Share-based compensation
11,372

 
9,925

Exercises of stock options
6,161

 
6,238

Vesting of restricted shares
(2,732
)
 
(2,841
)
Cumulative effect of change in accounting principle (a)
1,880

 
—

Tax benefit from share-based compensation
—

 
1,402

Other
90

 
95

Balance at end of period
$
487,049

 
$
693,164


_______________

(a)
During the six months ended July 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 six months ended July 2, 2017, the Company repurchased 3,611 shares with an aggregate purchase price of $52,448, of which $1,974 was accrued at July 2, 2017 and excluding commissions of $53. As of July 2, 2017, the Company had $97,552 of availability remaining under its February 2017 authorization. Subsequent to July 2, 2017 through August 3, 2017, the Company repurchased 917 shares with an aggregate purchase price of $14,337, excluding commissions of $13.

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 six months ended July 3, 2016, the Company repurchased 10,767 shares with an aggregate purchase price of $109,187, of which $2,991 was accrued at July 3, 2016 and excluding commissions of $161.

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
8,010

 
888

 
96

 
8,994

Balance at July 2, 2017
$
(52,289
)
 
$
(909
)
 
$
(1,049
)
 
$
(54,247
)
 
 
 
 
 
 
 
 
Balance at January 3, 2016
$
(66,163
)
 
$
(3,571
)
 
$
(1,089
)
 
$
(70,823
)
Current-period other comprehensive income (loss)
14,256

 
888

 
(56
)
 
15,088

Balance at July 3, 2016
$
(51,907
)
 
$
(2,683
)
 
$
(1,145
)
 
$
(55,735
)
_______________

(a)
Current-period other comprehensive income (loss) includes the reclassification of unrealized losses on cash flow hedges from “Accumulated other comprehensive loss” to our condensed consolidated statements of operations of $443 and $888 for both the three and six months ended July 2, 2017 and July 3, 2016, respectively. The reclassification of unrealized losses on cash flow hedges consists of $724 and $1,447 for both the three and six months ended July 2, 2017 and July 3, 2016, respectively, recorded to “Interest expense,” net of the related income tax benefit of $281 and $559 for both the three and six months ended July 2, 2017 and July 3, 2016, respectively, recorded to “Provision for income taxes.” See Note 6 for further information.