XML 26 R15.htm IDEA: XBRL DOCUMENT v3.8.0.1
Stockholders' Equity
3 Months Ended
Apr. 01, 2018
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. As of April 1, 2018, 2.0 million shares remained authorized for repurchase under the repurchase program. The Company did not repurchase any shares of common stock under the authorizations during the three months ended April 1, 2018. The Company repurchased, reported based on trade date, 0.2 million shares of common stock at a cost of $11.6 million under the repurchase authorization during the three months ended April 2, 2017.

The Company repurchased, as reported based on trade date, approximately 38,000 shares of common stock at a cost of $2.3 million to administratively facilitate the withholding and subsequent remittance of personal income and payroll taxes for individuals receiving RSUs during the three months ended April 1, 2018. Similarly, during the three months ended April 2, 2017, the Company repurchased, as reported based on trade date, approximately 38,000 shares of common stock at a cost of $1.9 million to 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 for the three months ended April 1, 2018 and April 2, 2017:

 
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, 2017
$
(146
)
 
$
(838
)
 
$
133

 
$
(851
)
Other comprehensive income (loss) before reclassifications
(38
)
 
(1,500
)
 
388

 
(1,150
)
Less: Amount reclassified from accumulated other comprehensive income

 
(2,192
)
 
460

 
(1,732
)
Net current period other comprehensive income (loss)
(38
)
 
692

 
(72
)
 
582

Balance as of April 1, 2018
$
(184
)
 
$
(146
)
 
$
61

 
$
(269
)



 
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
(55
)
 
(117
)
 
(337
)
 
(509
)
Less: Amount reclassified from accumulated other comprehensive income

 
1,580

 
(553
)
 
1,027

Net current period other comprehensive income (loss)
(55
)
 
(1,697
)
 
216

 
(1,536
)
Balance as of April 2, 2017
$
(86
)
 
$
533

 
$
(45
)
 
$
402



The following tables provide details about significant amounts reclassified out of each component of AOCI for the three months ended April 1, 2018 and April 2, 2017:

Details about Accumulated Other Comprehensive Income Components
 
Three Months Ended April 1, 2018
 
Amount Reclassified from AOCI
 
Affected Line Item in the Statements of Operations
 
 
(In thousands)
 
 
Gains (losses) on cash flow hedge:
 
 
 
 
Foreign currency forward contracts
 
$
(2,568
)
 
Net revenue
Foreign currency forward contracts
 
6

 
Cost of revenue
Foreign currency forward contracts
 
99

 
Research and development

Foreign currency forward contracts
 
230

 
Sales and marketing

Foreign currency forward contracts
 
41

 
General and administrative

 
 
(2,192
)
 
Total before tax
 
 
460

 
Tax impact
 
 
$
(1,732
)
 
Total, net of tax



Details about Accumulated Other Comprehensive Income Components
 
Three Months Ended April 2, 2017
 
Amount Reclassified from AOCI
 
Affected Line Item in the Statements of Operations
 
 
(In thousands)
 
 
Gains (losses) on cash flow hedge:
 
 
 
 
Foreign currency forward contracts
 
$
2,035

 
Net revenue
Foreign currency forward contracts
 
(13
)
 
Cost of revenue
Foreign currency forward contracts
 
(19
)
 
Research and development

Foreign currency forward contracts
 
(364
)
 
Sales and marketing

Foreign currency forward contracts
 
(59
)
 
General and administrative

 
 
1,580

 
Total before tax
 
 
(553
)
 
Tax impact
 
 
$
1,027

 
Total, net of tax