Stockholders' Equity

6 Months Ended

Jul. 02, 2016

Stockholders' Equity

Stockholders' Equity

8. Stockholders’ Equity

Common Stock

The Company issued 0.7 million shares of common stock during the six months ended July 2, 2016.

Share Repurchase Programs

The Board of Directors authorized the following share repurchase programs (in thousands):

Program Authorization Date	Program Termination Date	Program Amount
August 2015	December 2016	$	100,000
October 2014	December 2015	$	100,000

These programs allow for repurchases to be made in the open market or in private transactions, including structured or accelerated transactions, subject to applicable legal requirements and market conditions. The Company repurchased 0.8 million shares of its common stock for $38.1 million during the six months ended July 2, 2016. The Company repurchased 0.2 million shares of its common stock for $10.4 million during the six months ended July 4, 2015.  These shares were retired upon repurchase.

Accumulated Other Comprehensive Loss

The components of accumulated other comprehensive loss, net of taxes, were as follows (in thousands):

	Unrealized Gain (Loss) on Cash Flow Hedge			Net Unrealized Losses on Available-For-Sale Securities			Total
Balance at January 2, 2016	$	60		$	(567	)	$	(507	)
Other comprehensive loss before reclassifications	(268		)	(34		)	(302		)
Amount reclassified from accumulated other comprehensive loss	82			—			82
Net change for the period	(186		)	(34		)	(220		)
Balance at July 2, 2016	$	(126	)	$	(601	)	$	(727	)

Reclassifications From Accumulated Other Comprehensive Loss

The following table summarizes the effect on net income from reclassifications out of accumulated other comprehensive income (in thousands):

	Three Months Ended						Six Months Ended
Reclassification	July 2, 2016			July 4, 2015			July 2, 2016			July 4, 2015
Losses on cash flow hedges to:
Interest expense	$	(61	)	$	(81	)	$	(127	)	$	(211	)
Losses on available-for-sale securities to:
Interest income	—			—			—			(10		)
	(61		)	(81		)	(127		)	(221		)
Income tax benefit	22			28			45			78
Total reclassifications	$	(39	)	$	(53	)	$	(82	)	$	(143	)