Stockholders' Equity

9 Months Ended

Oct. 02, 2016

Stockholders' Equity Note [Abstract]

Stockholders' Equity

Stockholders' Equity

Common Stock Repurchase Program

From time to time, the Company’s Board of Directors has authorized programs under which the Company may repurchase shares of its common stock, depending on market conditions, in the open market or through privately negotiated transactions. Under the authorizations, 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. Repurchases made by the Company pursuant to Board-authorized programs during the nine months ended October 2, 2016 and September 27, 2015 are discussed below. As of October 2, 2016, 1.6 million shares remained authorized for repurchase under the repurchase program approved by the Board in July 2015. All shares authorized under previously approved programs were fully utilized.

The Company repurchased, reported based on trade date, 0.6 million shares of common stock at a cost of $23.3 million during the nine months ended October 2, 2016. The Company repurchased, reported based on trade date, 3.4 million shares of common stock at a cost of $105.2 million under the repurchase authorization during the nine months ended September 27, 2015.

The Company repurchased, as reported based on trade date, approximately 99,000 shares of common stock at a cost of $4.4 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 October 2, 2016. Similarly, during the nine months ended September 27, 2015, the Company repurchased approximately 77,000 shares of common stock at a cost of $2.4 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 taxes, for the nine months ended October 2, 2016 and September 27, 2015 (in thousands):

	Gains and losses on available-for-sale securities			Gains and losses on derivatives			Total
Beginning balance as of December 31, 2015	$	(40	)	$	43		$	3
Other comprehensive income (loss) before reclassifications	65			(684		)	(619		)
Amounts reclassified from accumulated other comprehensive income	—			858			858
Net current period other comprehensive income (loss)	65			174			239
Ending balance as of October 2, 2016	$	25		$	217		$	242

	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	21			(1,299		)	(1,278		)
Amounts reclassified from accumulated other comprehensive income	—			1,197			1,197
Net current period other comprehensive income (loss)	21			(102		)	(81		)
Ending balance as of September 27, 2015	$	16		$	(59	)	$	(43	)

The following tables provide details about significant amounts reclassified out of each component of AOCI for the three and nine months ended October 2, 2016 and September 27, 2015 (in thousands):

Details about Accumulated Other Comprehensive Income Components	Three Months Ended October 2, 2016				Nine Months Ended October 2, 2016
	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	$	(824	)	Net revenue	$	(1,543	)	Net revenue
Foreign currency forward contracts	$	4		Cost of revenue	$	4		Cost of revenue
Foreign currency forward contracts	163			Operating expenses	219			Operating expenses
	$	(657	)	Total before tax	$	(1,320	)	Total before tax
	230			Tax impact	462			Tax impact
	$	(427	)	Total, net of tax	$	(858	)	Total, net of tax

Details about Accumulated Other Comprehensive Income Components	Three Months Ended September 27, 2015				Nine Months Ended September 27, 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	$	(552	)	Net revenue	$	(1,474	)	Net revenue
Foreign currency forward contracts	3			Cost of revenue	7			Cost of revenue
Foreign currency forward contracts	123			Operating expenses	270			Operating expenses
	(426		)	Total before tax	(1,197		)	Total before tax
	—			Tax impact (1)	—			Tax impact (1)
	$	(426	)	Total, net of tax	$	(1,197	)	Total, net of tax

(1) Under the Company's 2015 tax structure, all hedging gains and losses from derivative contracts were ultimately borne by a legal entity in a jurisdiction with no income tax.