Treasury Stock

12 Months Ended

Dec. 30, 2023

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

The Company’s Board of Directors has authorized common stock repurchases under a share repurchase program which was announced in February 2007. As of December 30, 2023, the authorization amount of the program, which has been increased from time to time, was authorized for up to $6.50 billion, exclusive of any fees, commissions or other expenses related to such repurchases. The share repurchase program does not have an expiration date. 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, temporarily paused, or terminated at any time without prior notice. As of December 30, 2023, the Company had remaining authorization under the share repurchase program of $1.05 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 costs of share repurchases in fiscal 2023, 2022, and 2021, respectively (in thousands, except per share amounts):


	Fiscal Year
	2023		2022		2021
Total number of shares repurchased	2,732		3,378		4,364
Average price paid per share	$	218.54	$	207.23	$	183.07
Total costs of share repurchases (a)	$	602,947	$	700,063	$	798,893