NOTE 8. STOCKHOLDERS’ EQUITY

The following table reflects the changes in Stockholders’ equity.

(In millions)
Stockholders’ equity at December 30, 2017	$	2,120
Net income		57
Repurchase of common stock for treasury		(8	)
Dividends paid on common stock		(28	)
Share purchase for taxes, net of proceeds on employee-related plans		(3	)
Other comprehensive income, net of tax		11
Adjustment for adoption of the new revenue accounting standard		(4	)
Acquisition escrow shares returned		(1	)
Amortization of long-term incentive stock grants		12
Stockholders’ equity at June 30, 2018	$	2,156

Accumulated other comprehensive income (loss) activity, net of tax, where applicable, is provided in the following table:

	Foreign			Change in
	Currency			Deferred
	Translation			Pension and
(In millions)	Adjustments			Other			Total
Balance at December 30, 2017	$	(43	)	$	(35	)	$	(78	)
Other comprehensive income (loss) activity before reclassifications		(18	)		—			(18	)
Reclassification of foreign currency translation adjustments realized upon disposal of business		29			—			29
Balance at June 30, 2018	$	(32	)	$	(35	)	$	(67	)

Treasury Stock

In May 2016, the Company’s Board of Directors authorized a stock repurchase program of up to $100 million of its outstanding common stock. In August 2016, the Board of Directors authorized an increase to the current share repurchase program from $100 million to $250 million. The stock repurchase authorization permits the Company to repurchase stock from time-to-time through a combination of open market repurchases, privately negotiated transactions, 10b5-1 trading plans, accelerated stock repurchase transactions and/or other derivative transactions. The authorization extends to the end of 2018 and may be suspended or discontinued at any time. The exact number and timing of share repurchases will depend on market conditions and other factors, and will be funded through existing liquidity. However, under the Company’s Term Loan Credit Agreement, the Company’s ability to continue to repurchase its common stock is significantly restricted.

In the second quarter and first half of 2018, the Company purchased approximately 3 million shares of its common stock at a cost of $8 million under the stock repurchase program. As of June 30, 2018, $55 million remains available for share repurchase under the current Board authorization. Refer to Item 2, “Unregistered Sales of Equity Securities and Use of Proceeds” in Part II, “Other Information” for additional information.

Dividends on Common Stock

In the second quarter and first half of 2018, the Company’s Board of Directors declared quarterly cash dividends of $0.025 per share on its common stock, resulting in total cash payments of $14 million and $28 million, respectively. Dividends have been recorded as a reduction to additional paid-in capital as the Company is in an accumulated deficit position. Payment of dividends is permitted under the Company’s Amended Credit Agreement provided that the Company has the required minimum liquidity or fixed charge ratio, but may be limited if the Company does not meet the necessary requirements. Additionally, under the Company’s Term Loan Credit Agreement, payment of dividends is permitted subject to compliance with an annual limit.