Stockholders' Equity

3 Months Ended

Apr. 04, 2020

Stockholders' Equity

Stockholders' Equity

8. Stockholders’ Equity

Common Stock

The Company issued 0.4 million shares of common stock during the three months ended April 4, 2020.

Share Repurchase Program

In April 2020, the Board of Directors terminated the Company's existing share repurchase program, effective immediately, which had an authorization amount of $200 million and a termination date of December 2020. This program allowed 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 0.2 million shares and 0.2 million shares of its common stock for $16.3 million and $15.0 million during the three months ended April 4, 2020 and March 30, 2019, respectively. These shares were retired upon repurchase.

Reclassifications From Accumulated Other Comprehensive Income (Loss)

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

	Three Months Ended
	April 4,		March 30,
Reclassification	2020		2019
Gains (losses) on available-for-sales securities to:
Interest income and other, net	$	100	$	—
Gains (losses) on cash flow hedges to:
Operating expenses		(141)		(237)
		(41)		(237)
Income tax expense		9		50
Total reclassifications	$	(32)	$	(187)