Stockholders’ Equity

Stock Repurchases

On October 21, 2008, October 17, 2014, July 21, 2015 and April 25, 2017, the Company’s Board of Directors authorized management to repurchase up to 6.0 million, 3.0 million, 3.0 million and 3.0 million shares of the Company’s outstanding common stock, respectively, which, at the time of authorization, were incremental to the remaining shares under the share repurchase programs. Under the authorizations, the Company may repurchase shares of its common stock, depending on market conditions, in the open market or through privately negotiated transactions. 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. As of December 31, 2017, 2.0 million shares remained authorized for repurchase under the repurchase program. The Company repurchased, reported based on trade date, approximately 2.4 million shares of common stock at a cost of $113.2 million during the year ended December 31, 2017. During the years ended December 31, 2016 and 2015, the Company repurchased and retired, reported based on trade date, approximately 0.9 million shares of common stock at a cost of $38.3 million and approximately 3.8 million shares of common stock at a cost of $117.7 million, respectively.

The Company repurchased, as reported based on trade date, approximately 135,000 shares of common stock at a cost of $6.4 million, to help administratively facilitate the withholding and subsequent remittance of personal income and payroll taxes for individuals receiving RSUs during the year ended December 31, 2017. Similarly, during the years ended December 31, 2016 and 2015, the Company repurchased approximately 105,000 shares of common stock at a cost of $4.7 million and 85,000 shares of common stock at a cost of $2.6 million, respectively, 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.

Accumulated Other Comprehensive Income (Loss)

The following table sets forth the changes in accumulated other comprehensive income ("AOCI") by component during the years ended December 31, 2017, 2016 and 2015:



	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, 2014	$	(8	)	$	43		$	3		$	38
Other comprehensive income (loss) before reclassifications	(56		)	453			21			418
Less: Amount reclassified from accumulated other comprehensive income	—			453			—			453
Net current period other comprehensive income (loss)	(56		)	—			21			(35		)
Balance as of December 31, 2015	$	(64	)	$	43		$	24		$	3
Other comprehensive income (loss) before reclassifications	33			3,007			(572		)	2,468
Less: Amount reclassified from accumulated other comprehensive income	—			820			(287		)	533
Net current period other comprehensive income (loss)	33			2,187			(285		)	1,935
Balance as of December 31, 2016	$	(31	)	$	2,230		$	(261	)	$	1,938
Other comprehensive income (loss) before reclassifications	(115		)	(10,692		)	3,062			(7,745		)
Less: Amount reclassified from accumulated other comprehensive income	—			(7,624		)	2,668			(4,956		)
Net current period other comprehensive income (loss)	(115		)	(3,068		)	394			(2,789		)
Balance as of December 31, 2017	$	(146	)	$	(838	)	$	133		$	(851	)

The following tables provide details about significant amounts reclassified out of each component of accumulated other comprehensive income for the years ended December 31, 2017, 2016 and 2015:



	Year Ended December 31,
Details about Accumulated Other Comprehensive Income Components	2017				2016				2015
	Amount Reclassified from AOCI			Affected Line Item in the Statements of Operations	Amount Reclassified from AOCI			Affected Line Item in the Statements of Operations	Amount Reclassified from AOCI			Affected Line Item in the Statements of Operations
	(In thousands)
Gains (losses) on cash flow hedge:
Foreign currency forward contracts	$	(8,693	)	Net revenue	$	1,100		Net revenue	$	462		Net revenue
Foreign currency forward contracts	18			Cost of revenue	(6		)	Cost of revenue	6			Cost of revenue
Foreign currency forward contracts	1,051			Operating expenses	(274		)	Operating expenses	(15		)	Operating expenses
	(7,624		)	Total before tax	820			Total before tax	453			Total before tax
	2,668			Tax impact	(287		)	Tax impact	—			Tax impact ⁽¹⁾
	$	(4,956	)	Total, net of tax	$	533		Total, net of tax	$	453		Total, net of tax

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⁽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.