Stockholders' Equity

12 Months Ended

Dec. 31, 2020

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. As of December 31, 2020, 2.6 million shares remained authorized for repurchase under the repurchase program. The Company repurchased, as reported based on trade date, approximately 0.9 million shares of common stock at a cost of $23.8 million, approximately 2.4 million shares of common stock at a cost of $75.9 million and approximately 0.5 million shares of common stock at a cost of $30.0 million, during the years ended December 31, 2020, 2019 and 2018, respectively.

The Company repurchased, as reported based on trade date, approximately 198,000 shares of common stock at a cost of $5.1 million, approximately 198,000 shares of common stock at a cost of $6.5 million and approximately 138,000 shares of common stock at a cost of $8.1 million, to administratively facilitate the withholding and subsequent remittance of personal income and payroll taxes for individuals receiving RSUs during the years ended December 31, 2020, 2019 and 2018, 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 (loss) ("AOCI") by component during the years ended December 31, 2020, 2019 and 2018:

	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, 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 (loss)		—			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 (loss)		—			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
Other comprehensive income (loss) before reclassifications		—			(856	)		174			(682	)
Less: Amount reclassified from accumulated other comprehensive income (loss)		—			(792	)		166			(626	)
Net current period other comprehensive income (loss)		—			(64	)		8			(56	)
Balance as of December 31, 2020	$	(2	)	$	(42	)	$	9		$	(35	)

The following tables provide details about significant amounts reclassified out of each component of AOCI for the years ended December 31, 2020, 2019 and 2018:

	Year Ended December 31,
	2020			2019			2018
	(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	$	(954	)	$	1,929		$	665
Cost of revenue		2			(12	)		(9	)
Research and development		9			(57	)		83
Sales and marketing		124			(284	)		(102	)
General and administrative		27			(41	)		(53	)
Total from continuing operations before tax		(792	)		1,535			584
Tax impact from continuing operations		166			(322	)		(123	)
Total, from continuing operations net of tax		(626	)		1,213			461
Total, from discontinued operations net of tax		—			—			4
Total, net of tax	$	(626	)	$	1,213		$	465