Stock Repurchase Program

6 Months Ended

Jul. 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 July 3, 2021, approximately $346 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 July 3, 2021 and June 27, 2020 were as follows:

	Three Months Ended				Six Months Ended
	July 3, 2021		June 27, 2020		July 3, 2021		June 27, 2020
	(In thousands)
Shares repurchased	1,720		920		3,043		2,408
Total cost of repurchased shares	$	220,023	$	75,014	$	392,290	$	175,036