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Stockholders' Equity
6 Months Ended
Jun. 30, 2013
Stockholders' Equity Note [Abstract]  
Stockholders' Equity
Stockholders’ Equity
Comprehensive Income:
The components of accumulated other comprehensive income consisted of the following:
 
 
June 30,
2013
 
December 30,
2012
 
(In thousands)
Foreign currency translation adjustments
$
52,823

 
$
67,527

Unrecognized prior service costs, net of income taxes
2,087

 
2,087

Unrealized and realized losses on derivatives, net of income taxes
(2,294
)
 
(2,892
)
Unrealized net losses on securities, net of income taxes
(159
)
 
(129
)
Accumulated other comprehensive income
$
52,457

 
$
66,593


During the six months ended June 30, 2013, pre-tax losses of $1.0 million were reclassified from accumulated other comprehensive income into interest and other expense, net related to previously settled cash flow hedges. The Company recognized a tax provision of $0.4 million related to these amounts reclassified out of accumulated other comprehensive income for the six months ended June 30, 2013.
Stock Repurchase Program:
On October 24, 2012, the Board authorized the Company to repurchase up to 6.0 million shares of common stock under a stock repurchase program (the "Repurchase Program"). The Repurchase Program will expire on October 24, 2014 unless terminated earlier by the Board, and may be suspended or discontinued at any time. During the first six months of fiscal year 2013, the Company repurchased 3.6 million shares of common stock in the open market at an aggregate cost of $123.0 million, including commissions, under the Repurchase Program. As of June 30, 2013, 2.4 million shares of the Company’s common stock remained available for repurchase from the 6.0 million shares authorized by the Board under the Repurchase Program.
The Board has authorized the Company to repurchase shares of common stock to satisfy minimum statutory tax withholding obligations in connection with the vesting of restricted stock awards and restricted stock unit awards granted pursuant to the Company’s equity incentive plans. During the first six months of fiscal year 2013, the Company repurchased 116,346 shares of common stock for this purpose at an aggregate cost of $4.0 million. The repurchased shares have been reflected as additional authorized but unissued shares, with the payments reflected in common stock and capital in excess of par value.
Dividends:
The Board declared a regular quarterly cash dividend of $0.07 per share for each of the first two quarters of fiscal year 2013 and for each quarter of fiscal year 2012. At June 30, 2013, the Company had accrued $7.8 million for dividends declared on June 13, 2013 for the second quarter of fiscal year 2013, payable in August 2013. On July 26, 2013, the Company announced that the Board had declared a quarterly dividend of $0.07 per share for the third quarter of fiscal year 2013 that will be payable in November 2013. In the future, the Board may determine to reduce or eliminate the Company’s common stock dividend in order to fund investments for growth, repurchase shares or conserve capital resources.