Stock Repurchase Program

6 Months Ended

Jun. 27, 2020

Class of Stock Disclosures [Abstract]

STOCK REPURCHASE PROGRAM

STOCK REPURCHASE PROGRAM

In February 2019, Cadence’s Board of Directors authorized the repurchase of $500 million of Cadence common stock. The actual timing and amount of repurchases are subject to business and market conditions, corporate and regulatory requirements, stock price, acquisition opportunities and other factors. As of June 27, 2020, approximately $194 million remained available to repurchase shares of Cadence common stock.

The shares repurchased under Cadence’s repurchase authorizations and the total cost of repurchased shares, including commissions, during the three and six months ended June 27, 2020 and June 29, 2019 were as follows:

	Three Months Ended				Six Months Ended
	June 27, 2020		June 29, 2019		June 27, 2020		June 29, 2019
	(In thousands)
Shares repurchased	920		1,125		2,408		2,654
Total cost of repurchased shares	$	75,014	$	75,006	$	175,036	$	156,120