Stock Repurchase Program

3 Months Ended

Mar. 31, 2023

Class of Stock Disclosures [Abstract]

STOCK REPURCHASE PROGRAM

STOCK REPURCHASE PROGRAM

In August 2022, Cadence’s Board of Directors increased the prior authorization to repurchase shares of Cadence common stock by authorizing an additional $1.0 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 March 31, 2023, approximately $952.0 million of Cadence’s 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 March 31, 2023 and April 2, 2022 were as follows:

	Three Months Ended
	March 31, 2023		April 2, 2022
	(In thousands)
Shares repurchased	668		1,566
Total cost of repurchased shares	$	125,010	$	250,016