Stockholders' Equity

9 Months Ended

Sep. 28, 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, reported based on trade date, 2.1 million shares of common stock at a cost of $68.6 million under this authorization during the nine months ended September 28, 2014, which leaves approximately 0.7 million shares remaining in the buyback program. As of September 28, 2014, common stock repurchases at a cost of $2.2 million were pending settlement. The Company did not repurchase any shares under this authorization during the nine months ended September 29, 2013. On October 17, 2014, the Company's Board of Directors authorized a program to repurchase up to 3.0 million shares of the Company’s outstanding common stock. This is incremental to the approximate 0.7 million remaining on the Company’s previous share repurchase program.

The Company repurchased, as reported based on trade date, approximately 50,000 shares of common stock at a cost of $1.6 million under a repurchase program to help administratively facilitate the withholding and subsequent remittance of personal income and payroll taxes for individuals receiving restricted stock units ("RSUs") during the nine months ended September 28, 2014. Similarly, during the nine months ended September 29, 2013, the Company repurchased approximately 14,000 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 purchase price for the shares of the Company’s stock repurchased is reflected as a reduction to stockholders’ equity. 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, Net

The following table sets forth the changes in accumulated other comprehensive income ("AOCI") by component, net of tax, for the nine months ended September 28, 2014 (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 (loss) before reclassifications	15		(170		)	(155		)
Amounts reclassified from accumulated other comprehensive income	—		236			236
Net current period other comprehensive income (loss)	15		66			81
Ending balance as of September 28, 2014	$	19	$	131		$	150

The following tables provide details about significant amounts reclassified out of each component of AOCI for the three and nine months ended September 28, 2014 and September 29, 2013 (in thousands):

Details about Accumulated Other Comprehensive Income Components	Three Months Ended September 28, 2014				Nine Months Ended September 28, 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	$	320		Net revenue	$	(221	)	Net revenue
Foreign currency forward contracts	—			Cost of revenue	8			Cost of revenue
Foreign currency forward contracts	(58		)	Operating expenses	(23		)	Operating expenses
	262			Total before tax	(236		)	Total before tax
	—			Tax expense (1)	—			Tax expense (1)
	$	262		Total, net of tax	$	(236	)	Total, net of tax

Details about Accumulated Other Comprehensive Income Components	Three Months Ended September 29, 2013				Nine Months Ended September 29, 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	$	2		Net revenue	$	522		Net revenue
Foreign currency forward contracts	(2		)	Cost of revenue	(5		)	Cost of revenue
Foreign currency forward contracts	42			Operating expenses	(52		)	Operating expenses
	42			Total before tax	465			Total before tax
	—			Tax expense (1)	—			Tax expense (1)
	$	42		Total, net of tax	$	465		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.