STOCKHOLDERS’ EQUITY

Share Repurchase Program

On November 14, 2018, the Board of Directors approved the extension of the Company’s existing stock repurchase program for an additional three-year period and authorizing up to an additional $100 million in repurchases. Stock repurchases under this program may be made in the open market or in private transactions at times and in amounts determined by the Company. As of December 31, 2018, $100.0 million remained available under the program.

Common and Preferred Stock

The Board of Directors has the authority to issue common and unclassed preferred stock of up to 200 million shares and 25 million shares, respectively, with par value of $0.01 per share, as well as to fix dividends, voting and conversion rights, redemption provisions, liquidation preferences and other rights and restrictions.

Accumulated Other Comprehensive Income

Changes in AOCI by component, net of tax, for the years ended December 31, 2018, 2017, and 2016 are summarized as follows (in thousands):



	Foreign Currency Translation and Other			Derivative Instruments			Total
Balances at December 31, 2015	$	(1,500	)	$	—		$	(1,500	)
Net unrealized gains (losses) arising during the period	(1,347		)	—			(1,347		)
Less: Net realized gains (losses) reclassified to net income	—			—			—
Net change during the period	(1,347		)	—			(1,347		)
Balances at December 31, 2016	(2,847		)	—			(2,847		)
Net unrealized gains (losses) arising during the period	462			—			462
Less: Net realized gains (losses) reclassified to net income	—			—			—
Net change during the period	462			—			462
Balances at December 31, 2017	(2,385		)	—			(2,385		)
Net unrealized gains (losses) arising during the period^(a)	(193		)	(660		)	(853		)
Less: Net realized gains (losses) reclassified to net income^(b)	—			105			105
Net change during the period	(193		)	(765		)	(958		)
Balances at December 31, 2018	$	(2,578	)	$	(765	)	$	(3,343	)

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^(a)Derivative instruments net of $230 thousand of tax benefit for the year ended December 31, 2018.

^(b)Derivative instruments net of $37 thousand of tax benefit for the year ended December 31, 2018.