Stockholders' Equity

6 Months Ended

Jul. 02, 2017

Stockholders' Equity Note [Abstract]

Stockholders' Equity

Stockholders' Equity

Stock Repurchases

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. On April 25, 2017, the Company's Board of Directors authorized the repurchase of 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. As of July 2, 2017, 3.2 million shares remained authorized for repurchase under the repurchase programs approved by the Board in July 2015 and April 2017. All shares authorized under previously approved programs were fully utilized. The Company repurchased, as reported based on trade date, 1.1 million shares of common stock at a cost of $56.6 million during the six months ended July 2, 2017. The Company repurchased, reported based on trade date, 0.6 million shares of common stock at a cost of $23.3 million under the repurchase authorization during the six months ended July 3, 2016.

The Company repurchased, as reported based on trade date, approximately 0.1 million shares of common stock at a cost of $5.6 million to help administratively facilitate the withholding and subsequent remittance of personal income and payroll taxes for individuals receiving RSUs during the six months ended July 2, 2017. Similarly, during the six months ended July 3, 2016, the Company repurchased, as reported based on trade date, approximately 91,000 shares of common stock at a cost of $3.9 million 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

The following table sets forth the changes in accumulated other comprehensive income ("AOCI") by component for the six months ended July 2, 2017 and July 3, 2016:

	Unrealized gains (losses) on available-for-sale securities			Unrealized gains (losses) on derivatives			Estimated tax benefit (provision)			Total
	(In thousands)
Balance as of December 31, 2016	$	(31	)	$	2,230		$	(261	)	$	1,938
Other comprehensive loss before reclassifications	(82		)	(7,052		)	807			(6,327		)
Less: Amount reclassified from accumulated other comprehensive income	—			648			(227		)	421
Net current period other comprehensive income (loss)	(82		)	(7,700		)	1,034			(6,748		)
Balance as of July 2, 2017	$	(113	)	$	(5,470	)	$	773		$	(4,810	)

	Unrealized gains (losses) on available-for-sale securities			Unrealized gains (losses) on derivatives			Estimated tax benefit (provision)			Total
	(In thousands)
Balance as of December 31, 2015	$	(64	)	$	43		$	24		$	3
Other comprehensive income (loss) before reclassifications	147			(699		)	177			(375		)
Less: Amount reclassified from accumulated other comprehensive income	—			(663		)	232			(431		)
Net current period other comprehensive income (loss)	147			(36		)	(55		)	56
Balance as of July 3, 2016	$	83		$	7		$	(31	)	$	59

The following tables provide details about significant amounts reclassified out of each component of AOCI for the three and six months ended July 2, 2017 and July 3, 2016:

Details about Accumulated Other Comprehensive Income Components	Three Months Ended July 2, 2017				Six Months Ended July 2, 2017
	Amount Reclassified from AOCI			Affected Line Item in the Statements of Operations	Amount Reclassified from AOCI			Affected Line Item in the Statement of Operations
	(In thousands)				(In thousands)
Gains (losses) on cash flow hedge:
Foreign currency forward contracts	$	(1,008	)	Net revenue	$	1,027		Net revenue
Foreign currency forward contracts	$	(1	)	Cost of revenue	$	(14	)	Cost of revenue
Foreign currency forward contracts	77			Operating expenses	(365		)	Operating expenses
	$	(932	)	Total before tax	$	648		Total before tax
	326			Tax impact	(227		)	Tax impact
	$	(606	)	Total, net of tax	$	421		Total, net of tax

Details about Accumulated Other Comprehensive Income Components	Three Months Ended July 3, 2016				Six Months Ended July 3, 2016
	Amount Reclassified from AOCI			Affected Line Item in the Statements of Operations	Amount Reclassified from AOCI			Affected Line Item in the Statement of Operations
	(In thousands)				(In thousands)
Gains (losses) on cash flow hedge:
Foreign currency forward contracts	$	(407	)	Net revenue	$	(719	)	Net revenue
Foreign currency forward contracts	(2		)	Cost of revenue	—			Cost of revenue
Foreign currency forward contracts	(14		)	Operating expenses	56			Operating expenses
	(423		)	Total before tax	(663		)	Total before tax
	148			Tax impact	232			Tax impact
	$	(275	)	Total, net of tax	$	(431	)	Total, net of tax