Earnings Per Share and Certain Related Information

9 Months Ended

Jun. 26, 2015

Earnings Per Share Reconciliation [Abstract]

Earnings Per Share and Certain Related Information

The following table (i) reconciles the denominator used to compute basic earnings per share ("EPS") to the denominator used to compute diluted EPS for the three and nine months ended June 26, 2015 and June 27, 2014; (ii) provides information regarding the number of non-qualified stock options and shares of restricted stock that were antidilutive and therefore disregarded in calculating the weighted average number of shares outstanding used in computing diluted EPS; and (iii) provides the number of shares of common stock issued from the exercise of stock options and the release of restricted stock (in thousands):



	For the Three Months Ended		For the Nine Months Ended
	June 26, 2015	June 27, 2014	June 26, 2015	June 27, 2014
Shares used to calculate EPS:
Weighted average shares outstanding (denominator used to compute basic EPS)	123,392	130,738	126,004	130,417
Effect of stock options and restricted stock	1,209	1,873	1,235	2,043
Denominator used to compute diluted EPS	124,601	132,611	127,239	132,460
Antidilutive stock options and restricted stock	3,094	2,101	3,847	2,088
Shares of common stock issued from the exercise of stock options and the release of restricted stock	649	724	1,288	1,590

Share Repurchases

On August 19, 2014, the Company's Board of Directors authorized a share repurchase program of up to $500 million of the Company's common stock. The following table summarizes the activity under this program from the authorization date (in thousands, except per-share amounts):



Amount Authorized	Average Price Per Share (1)	Total Shares Retired	Shares Repurchased
$500,000	$45.0581	10,017	10,017


(1)	Includes commissions paid and calculated as the average price per share since the repurchase

program authorization date.

Share repurchases may be executed through various means including, without limitation, open market transactions, privately negotiated transactions or otherwise. The share repurchase program does not obligate the Company to purchase any shares, and expires on August 19, 2017. The authorization for the share repurchase program may be terminated, increased or decreased by the Company’s Board of Directors in its discretion at any time. The timing of our share repurchases may depend upon market conditions, other uses of capital, and other factors.

On July 23, 2015, the Board of Directors approved a program to purchase up to an additional $500 million of the Company's common stock over the next three years. This approval is in addition to the $48.7 million of capacity remaining as of June 26, 2015 under the Company's August 2014 $500 million share repurchase authorization. The new share repurchase authorization is subject to the same general terms and conditions as the prior share repurchase authorization summarized above.