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Treasury Stock | 9 Months Ended
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Sep. 24, 2016
Treasury Stock Transactions, Excluding Value of Shares Reissued [Abstract] |
Treasury Stock | Treasury Stock: The Company’s Board of Directors has authorized common stock repurchases under a share repurchase program. On October 31, 2016, the Board of Directors authorized a $1 billion increase to the existing share repurchase program, bringing the total amount authorized to $3 billion, exclusive of any fees, commissions, or other expenses related to such repurchases and extended the program through December 31, 2020. The repurchases may be made from time to time on the open market or in privately negotiated transactions. The timing and amount of any shares repurchased under the program will depend on a variety of factors, including price, corporate and regulatory requirements, capital availability, and other market conditions. Repurchased shares are accounted for at cost and will be held in treasury for future issuance. The program may be limited or terminated at any time without prior notice. The Company repurchased approximately 1.4 million shares of common stock under the share repurchase program during both the third quarters of fiscal 2016 and 2015, for a total cost of $108.8 million and $119.4 million, respectively. During the first nine months of fiscal 2016 and fiscal 2015, the Company repurchased 2.7 million and 2.9 million shares under the share repurchase program for a total cost of $215.7 million and $244.0 million, respectively. As of September 24, 2016, the Company had remaining authorization under the share repurchase program of $355.0 million, exclusive of any fees, commissions, or other expenses.

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- Definition The entire disclosure for treasury stock, including, but not limited to, average cost per share, description of share repurchase program, shares repurchased, shares held for each class of treasury stock. + References No definition available. + Details
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