Stock Repurchase Program

3 Months Ended

Apr. 02, 2022

Class of Stock Disclosures [Abstract]

STOCK REPURCHASE PROGRAM

STOCK REPURCHASE PROGRAM

In August 2021, Cadence’s Board of Directors increased the prior authorization to repurchase shares of Cadence common stock by authorizing an additional $1 billion. 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 2, 2022, approximately $877 million of the share repurchase authorization 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 2, 2022 and April 3, 2021 were as follows:

	Three Months Ended
	April 2, 2022		April 3, 2021
	(In thousands)
Shares repurchased	1,566		1,323
Total cost of repurchased shares	$	250,016	$	172,267