STOCK REPURCHASE PROGRAMS

In February 2008, Cadence’s Board of Directors authorized Cadence to repurchase shares of its common stock in the open market with a value of up to $500.0 million in the aggregate. In August 2008, Cadence’s Board of Directors authorized Cadence to repurchase shares of its common stock in the open market with a value of up to an additional $500.0 million in the aggregate. As of January 3, 2015, $714.3 million remained under these authorizations.

In January 2014, Cadence’s Board of Directors approved a two-year plan to repurchase shares of its common stock of up to an aggregate of $100.0 million under the 2008 authorizations. In July 2014, Cadence’s Board of Directors replaced the aggregate $100.0 million stock repurchase plan with a new two-year plan to repurchase shares of Cadence common stock of up to an aggregate of $300.0 million under the 2008 authorizations, beginning with the third quarter of fiscal 2014.

The shares repurchased under Cadence’s 2008 authorizations and the total cost of repurchased shares, including commissions, during fiscal 2014, 2013 and 2012 were as follows:



	2014		2013		2012
	(In thousands)
Shares repurchased	5,856		—		—
Total cost of repurchased shares	$	100,117	$	—	$	—