Stockholders' Equity

6 Months Ended

Jul. 03, 2015

Equity [Abstract]

Stockholders' Equity

STOCKHOLDERS’ EQUITY

Accumulated Other Comprehensive Loss (“AOCI”)

The components of accumulated other comprehensive loss, on an after-tax basis where applicable, were as follows (in thousands):

	Foreign Currency Translation Adjustments			Unrealized Gains (Losses) on Cash Flow Hedges			Unrealized Gains (Losses) on Available-for-Sale Investments			Total
Balance as of December 31, 2014	$	(1,523	)	$	311		$	(768	)	$	(1,980	)
Other comprehensive income (loss) before reclassifications	(402		)	332			945			875
Amounts reclassified from AOCI	—			(187		)	—			(187		)
Benefit from income taxes	—			—			6			6
Balance as of July 3, 2015	$	(1,925	)	$	456		$	183		$	(1,286	)

The effects of amounts reclassified from AOCI into the condensed consolidated statement of operations were as follows (in thousands):

	Three months ended				Six months ended
	July 3, 2015		June 27, 2014		July 3, 2015		June 27, 2014
Gains on cash flow hedges from foreign currency contracts:
Cost of revenue	$	19	$	—	$	26	$	—
Operating expenses	119		—		161		—
Total reclassifications from AOCI	$	138	$	—	$	187	$	—

Common Stock Repurchases

On April 24, 2012, the Board approved a stock repurchase program that provided for the repurchase of up to $25 million of our outstanding common stock. During 2013, the Board approved $195 million of increases to the program, increasing the aggregate authorized amount of the program to $220 million. On February 6, 2013, the Board approved a modification to the program that permits the Company to also repurchase its common stock pursuant to a plan that meets the requirements of Rule 10b5-1 under the Securities Exchange Act of 1934, as amended. On May 14, 2014, the Board approved an additional $80 million increase to the program, resulting in an aggregate authorized purchase of $300 million under the program and the repurchase period was extended through the end of 2016.

As of July 3, 2015, the Company had purchased 38.9 million shares of common stock under this program at a weighted average price of $6.26 per share for an aggregate purchase price of $244.5 million, including $1.0 million of expenses. The remaining authorized amount for stock repurchases under this program was $56.5 million as of July 3, 2015. For additional information, see “Item 2 - Unregistered sales of equity securities and use of proceeds”of this Quarterly Report on Form 10-Q.