Stockholders' Equity

12 Months Ended

Dec. 31, 2019

Note 11. 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 July 19, 2019, the Company's Board of Directors approved an increase in the number of shares of common stock authorized for repurchase under the Company's stock repurchase program of up to an incremental 4.5 million shares. As of December 31, 2019, 3.6 million shares remained authorized for repurchase under the repurchase program. The Company repurchased, as reported based on trade date, approximately 2.4 million shares of common stock at a cost of $75.9 million, approximately 0.5 million shares of common stock at a cost of $30.0 million and approximately 2.4 million shares of common stock at a cost of $113.2 million, during the years ended December 31, 2019, 2018 and 2017, respectively.

The Company repurchased, as reported based on trade date, approximately 198,000 shares of common stock at a cost of $6.5 million, approximately 138,000 shares of common stock at a cost of $8.1 million and 135,000 shares of common stock at a cost of $6.4 million, to administratively facilitate the withholding and subsequent remittance of personal income and payroll taxes for individuals receiving RSUs during the year ended December 31, 2019, 2018 and 2017, respectively.

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, 2019, 2018 and 2017:

	Unrealized gains (losses) on available -for-sale investments			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 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	)
Other comprehensive income (loss) before reclassifications		128			1,422			(249	)		1,301
Less: Amount reclassified from accumulated other comprehensive income		—			588			(123	)		465
Net current period other comprehensive income (loss)		128			834			(126	)		836
Distribution of Arlo		—			(4	)		4			—
Balance as of December 31, 2018	$	(18	)	$	(8	)	$	11		$	(15	)
Other comprehensive income (loss) before reclassifications		16			1,565			(332	)		1,249
Less: Amount reclassified from accumulated other comprehensive income		—			1,535			(322	)		1,213
Net current period other comprehensive income (loss)		16			30			(10	)		36
Balance as of December 31, 2019	$	(2	)	$	22		$	1		$	21

The following tables provide details about significant amounts reclassified out of each component of AOCI for the years ended December 31, 2019, 2018 and 2017:

	Year Ended December 31,
	2019			2018			2017
	(In thousands)
Amount Reclassified from AOCI
Gains (losses) on cash flow hedge:
Foreign currency forward contracts
Affected line item in the statement of operations
Net revenue	$	1,929		$	665		$	(5,786	)
Cost of revenue		(12	)		(9	)		18
Research and development		(57	)		83			130
Sales and marketing		(284	)		(102	)		788
General and administrative		(41	)		(53	)		133
Total from continuing operations before tax		1,535			584			(4,717	)
Tax impact from continuing operations		(322	)		(123	)		1,651
Total, from continuing operations net of tax		1,213			461			(3,066	)
Total, from discontinued operations net of tax		—			4			(1,890	)
Total, net of tax	$	1,213		$	465		$	(4,956	)