Stock Repurchase Program

9 Months Ended

Sep. 26, 2020

Class of Stock Disclosures [Abstract]

STOCK REPURCHASE PROGRAM

STOCK REPURCHASE PROGRAMAs of the end of the second quarter of fiscal 2020, approximately $194 million remained available under Cadence’s previously announced authorization to repurchase shares of Cadence common stock. In July 2020, Cadence’s Board of Directors increased the previously announced authorization to repurchase shares of Cadence common stock by an additional $750 million. 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 September 26, 2020, approximately $869 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 nine months ended September 26, 2020 and September 28, 2019 were as follows:

	Three Months Ended				Nine Months Ended
	September 26, 2020		September 28, 2019		September 26, 2020		September 28, 2019
	(In thousands)
Shares repurchased	717		1,065		3,124		3,719
Total cost of repurchased shares	$	75,011	$	75,011	$	250,047	$	231,131