Treasury Stock

9 Months Ended

Sep. 28, 2019

Treasury Stock Transactions, Excluding Value of Shares Reissued [Abstract]

Treasury Stock:

The Company’s Board of Directors has authorized common stock repurchases under a share repurchase program. On May 8, 2019, the Board of Directors authorized a $1.5 billion increase to the existing share repurchase program, bringing the total amount authorized to $4.5 billion, exclusive of any fees, commissions, or other expenses related to such repurchases. 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. As of September 28, 2019, the Company had remaining authorization under the share repurchase program of $1.53 billion, exclusive of any fees, commissions, or other expenses.

The following table provides the number of shares repurchased, average price paid per share, and total amount paid for share repurchases during the fiscal three and nine months ended September 28, 2019 and September 29, 2018, respectively (in thousands, except per share amounts):



	Fiscal Three Months Ended				Fiscal Nine Months Ended
	September 28, 2019		September 29, 2018		September 28, 2019		September 29, 2018
Total number of shares repurchased	1,470		452		4,926		4,296
Average price paid per share	$	105.97	$	81.23	$	99.46	$	67.33
Total cash paid for share repurchases	$	155,742	$	36,660	$	489,977	$	289,205