Stockholders' Equity

6 Months Ended

Jun. 29, 2014

Stockholders' Equity Note [Abstract]

Stockholders' Equity

Stockholders' Equity

Common Stock Repurchase Program

On October 21, 2008, the Company’s Board of Directors authorized management to repurchase up to 6.0 million shares of the Company’s outstanding common stock. Under this authorization, the timing and actual number of shares subject to repurchase are at the discretion of management and are contingent on a number of factors, such as levels of cash generation from operations, cash requirements for acquisitions and the price of the Company’s common stock. The Company repurchased 1.3 million shares of common stock at a cost of $43.1 million under this authorization during the six months ended June 29, 2014, which leaves approximately 1.5 million shares remaining in our buyback program. The Company did not repurchase any shares under this authorization during the six months ended June 30, 2013.

The Company repurchased approximately 47,000 shares of common stock at a cost of $1.5 million under a repurchase program to help administratively facilitate the withholding and subsequent remittance of personal income and payroll taxes for individuals receiving RSUs during the six months ended June 29, 2014. Similarly, during the six months ended June 30, 2013, the Company repurchased approximately 13,000 shares of common stock at a cost of $0.5 million under the same program to help facilitate tax withholding for RSUs.

These shares were retired upon repurchase. The Company’s policy related to repurchases of its common stock is to charge the excess of cost over par value to retained earnings. All repurchases were made in compliance with Rule 10b-18 under the Securities Exchange Act of 1934, as amended.

Cumulative Other Comprehensive Income

The following table sets forth the changes in accumulated other comprehensive income by component, net of tax, as of June 29, 2014 and December 31, 2013 (in thousands):

	Gains and losses on available for sale securities		Gains and losses on derivatives			Total
Beginning balance as of December 31, 2013	$	4	$	65		$	69
Other comprehensive income before reclassifications	14		(571		)	(557		)
Amounts reclassified from accumulated other comprehensive income	—		498			498
Net current period other comprehensive loss	14		(73		)	(59		)
Ending balance as of June 29, 2014	$	18	$	(8	)	$	10

The following tables provide details about significant amounts reclassified out of each component of accumulated other comprehensive income for the three and six months ended June 29, 2014, and June 30, 2013 (in thousands):

Details about Accumulated Other Comprehensive Income Components	Three Months Ended June 29, 2014				Six Months Ended June 29, 2014
	Amount Reclassified from AOCI			Affected Line Item in the Statement of Operations	Amount Reclassified from AOCI			Affected Line Item in the Statement of Operations
Gains and losses on cash flow hedge:
Foreign currency forward contracts	$	(116	)	Net revenue	$	(541	)	Net revenue
Foreign currency forward contracts	6			Cost of revenue	8			Cost of revenue
Foreign currency forward contracts	(29		)	Operating expenses	35			Operating expenses
	(139		)	Total before tax	(498		)	Total before tax
	—			Tax expense (1)	—			Tax expense (1)
	$	(139	)	Total, net of tax	$	(498	)	Total, net of tax

(1) Under our tax structure all hedging gains and losses from derivative contracts are ultimately borne by a legal entity in a jurisdiction with no income tax.

Details about Accumulated Other Comprehensive Income Components	Three Months Ended June 30, 2013				Six Months Ended June 30, 2013
	Amount Reclassified from AOCI			Affected Line Item in the Statement of Operations	Amount Reclassified from AOCI			Affected Line Item in the Statement of Operations
Gains and losses on cash flow hedge:
Foreign currency forward contracts	$	445		Net revenue	$	520		Net revenue
Foreign currency forward contracts	(1		)	Cost of revenue	(3		)	Cost of revenue
Foreign currency forward contracts	(48		)	Operating expenses	(94		)	Operating expenses
	396			Total before tax	423			Total before tax
	—			Tax expense (1)	—			Tax expense (1)
	$	396		Total, net of tax	$	423		Total, net of tax

(1) Under our tax structure all hedging gains and losses from derivative contracts are ultimately borne by a legal entity in a jurisdiction with no income tax.