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Stockholders' Equity
 12 Months Ended
Dec. 31, 2014
Equity [Abstract]  
Stockholders' Equity

10.   Stockholders’ Equity

Comprehensive Income (Loss)

The changes in accumulated other comprehensive income (loss) are included in the table below.

 

    

Year Ended December 31, 2014

  
    

Unrealized Gains

and Losses on

Available-for Sale

        Securities         

     

Foreign

Currency

    Items    

     

    Total    

  
      (In thousands)  

Beginning balance

    $             11       $             101       $             112   

Other comprehensive income (loss) before reclassifications

      (10 )       0         (10 ) 

Amounts reclassified from accumulated other comprehensive income (loss)

      0         0         0   
  

 

 

     

 

 

     

 

 

  

Net current period other comprehensive income (loss)

      (10 )       0         (10 ) 
  

 

 

     

 

 

     

 

 

  

Ending Balance

    $ 1       $ 101       $ 102   
  

 

 

     

 

 

     

 

 

  

In February 2013, the FASB ratified ASU 2013-02 “Comprehensive Income (Topic 220): Reporting of Amounts Reclassified Out of Comprehensive Income” (“ASU 2013-02”). ASU 2013-02 requires entities to disclose additional information about items reclassified out of accumulated other comprehensive income (“AOCI”) including AOCI balances by component and significant items reclassified out of AOCI. This ASU is effective for reporting periods beginning after December 15, 2012, and is being applied prospectively. The impact was not significant on the Company’s consolidated financial statements.

Stock Repurchase Program

On November 1, 2007, the Company announced its board of directors’ authorized the repurchase of up to $50 million of the Company’s common stock. In addition, on October 22, 2014, our board of directors authorized another $30 million under the share repurchase program. The Company may repurchase its stock for cash in the open market in accordance with applicable securities laws. The timing of and amount of any stock repurchase will depend on share price, corporate and regulatory requirements, economic and market conditions, and other factors. The stock repurchase authorization has no expiration date, does not require the Company to repurchase a specific number of shares, and may be modified, suspended, or discontinued at any time.

During the year ended December 31, 2014, the Company repurchased 1,527,647 shares for $15,000,000 at an average cost of $9.82 net of transaction costs through open market repurchases. There were no stock repurchases in 2013 under this stock repurchase program. During the year ended December 31, 2012, the Company repurchased 1,054,538 shares for $5,721,000 at an average cost of $5.43 net of transaction costs through open market repurchases. These amounts are classified as treasury stock on the Company’s consolidated balance sheet.