Stockholders' Equity

6 Months Ended

Jun. 28, 2015

Stockholders' Equity Note [Abstract]

Stockholders' Equity

Stockholders' Equity

Common Stock Repurchase Program

On October 21, 2008, the Company’s Board of Directors authorized the 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. On October 17, 2014, the Board of Directors authorized the management to repurchase up to 3.0 million shares of the Company's outstanding common stock which, at the time of authorization, were incremental to the remaining shares under the Company's previous share repurchase program. During the six months ended June 28, 2015, the Company repurchased, reported based on trade date, 2.7 million shares of common stock at a cost of $84.6 million under the repurchase authorization. As of June 28, 2015, common stock repurchases at a cost of $5.8 million were pending settlement and there was approximately 0.3 million shares remaining under the existing repurchase authorization. The Company repurchased, reported based on trade date, 1.3 million shares of common stock at a cost of $43.1 million under the repurchase authorization during the six months ended June 29, 2014. On July 21, 2015, the Company's Board of Directors authorized the management to repurchase up to $3.0 million shares of the Company’s outstanding common stock.

The Company repurchased, as reported based on trade date, approximately 73,000 shares of common stock at a cost of $2.3 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 six months ended June 28, 2015. Similarly, during the six months ended June 29, 2014, the Company repurchased approximately 47,000 shares of common stock at a cost of $1.5 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.

Accumulated Other Comprehensive Income, Net

The following table sets forth the changes in accumulated other comprehensive income ("AOCI") by component, net of tax, for the six months ended June 28, 2015 (in thousands):

	Gains and losses on available for sale securities			Gains and losses on derivatives			Total
Beginning balance as of December 31, 2014	$	(5	)	$	43		$	38
Other comprehensive income (loss) before reclassifications	17			(883		)	(866		)
Amounts reclassified from accumulated other comprehensive income	—			771			771
Net current period other comprehensive income (loss)	17			(112		)	(95		)
Ending balance as of June 28, 2015	$	12		$	(69	)	$	(57	)

The following tables provide details about significant amounts reclassified out of each component of AOCI for the three and six months ended June 28, 2015 and June 29, 2014 (in thousands):

Details about Accumulated Other Comprehensive Income Components	Three Months Ended June 28, 2015				Six Months Ended June 28, 2015
	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	$	(775	)	Net revenue	$	(922	)	Net revenue
Foreign currency forward contracts	5			Cost of revenue	4			Cost of revenue
Foreign currency forward contracts	170			Operating expenses	147			Operating expenses
	(600		)	Total before tax	(771		)	Total before tax
	—			Tax expense (1)	—			Tax expense (1)
	$	(600	)	Total, net of tax	$	(771	)	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 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.