Stock Repurchase Program

3 Months Ended

Apr. 03, 2021

Class of Stock Disclosures [Abstract]

STOCK REPURCHASE PROGRAM

STOCK REPURCHASE PROGRAM

In July 2020, Cadence’s Board of Directors authorized $750 million for the repurchase of shares 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 April 3, 2021, approximately $566 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 months ended April 3, 2021 and March 28, 2020 were as follows:

	Three Months Ended
	April 3, 2021		March 28, 2020
	(In thousands)
Shares repurchased	1,323		1,488
Total cost of repurchased shares	$	172,267	$	100,022