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Earnings Per Share and Certain Related Information
 6 Months Ended
Apr. 01, 2022
Earnings Per Share Reconciliation [Abstract]  
Earnings Per Share and Certain Related Information Earnings Per Share and Certain Related Information
Basic and diluted earnings per share (“EPS”) are computed using the two-class method, which is an earnings allocation method that determines EPS for common shares and participating securities. The undistributed earnings are allocated between common shares and participating securities as if all earnings had been distributed during the period. Participating securities and common shares have equal rights to undistributed earnings. Net earnings used for the purpose of determining basic and diluted EPS is determined by taking net earnings less earnings available to participating securities.
The following table reconciles the denominator used to compute basic EPS to the denominator used to compute diluted EPS for the three and six months ended April 1, 2022 and April 2, 2021 (in thousands):
Three Months EndedSix Months Ended
April 1, 2022April 2, 2021April 1, 2022April 2, 2021
Numerator for Basic and Diluted EPS:
Net earnings (loss) from continuing operations allocated to common stock for EPS calculation$88,817 $(275)$223,082 $256,786 
Net (loss) earnings from discontinued operations allocated to common stock for EPS calculation$(1)$11,320 $(233)$11,305 
Net earnings allocated to common stock for EPS calculation$88,816 $11,045 $222,849 $268,091 
Denominator for Basic and Diluted EPS:
Shares used for calculating basic EPS attributable to common stock129,333 130,262 129,337 130,115 
Effect of dilutive securities:
Stock compensation plans (1)640 — 796 1,042 
Shares used for calculating diluted EPS attributable to common stock129,973 130,262 130,133 131,157 
Net Earnings Per Share:
Basic Net Earnings from Continuing Operations Per Share$0.69 $— $1.72 $1.97 
Basic Net Earnings from Discontinued Operations Per Share$— $0.09 $— $0.09 
Basic Earnings Per Share$0.69 $0.08 $1.72 $2.06 
Diluted Net Earnings from Continuing Operations Per Share$0.68 $— $1.71 $1.96 
Diluted Net Earnings from Discontinued Operations Per Share$— $0.09 $— $0.09 
Diluted Earnings Per Share$0.68 $0.08 $1.71 $2.04 
(1) For the three months ended April 2, 2021, because net earnings (loss) from continuing operations allocated to common stock for EPS was a loss, the effect of antidilutive securities of 902 equivalent shares were excluded from the denominator in calculating diluted EPS.
Share Repurchases
On January 16, 2020, the Company's Board of Directors authorized a share repurchase program of up to $1.0 billion of the Company's common stock, to expire on January 15, 2023 (the "2020 Repurchase Authorization"). In the fourth quarter of fiscal 2021, the Company initiated an accelerated share repurchase program by advancing $250 million to a financial institution in a privately negotiated transaction, with final non-cash settlement on the program during the first quarter of fiscal 2022 of 342,054 shares.
The following table summarizes the activity under the 2020 Repurchase Authorization through the second fiscal quarter of 2022:

Amount Authorized
(2020 Repurchase Authorization)		Average Price Per Share (1)Total Shares RetiredShares Repurchased
$1,000,000,000$131.62737,369737,369
(1)Includes commissions paid and calculated at the average price per share

As of April 1, 2022, the Company has $732.9 million remaining under the 2020 Repurchase Authorization.
Our share repurchase program does not obligate the Company to purchase any shares. Share repurchases may be executed through various means including, without limitation, accelerated share repurchases, open market transactions, privately negotiated transactions, purchases pursuant to Rule 10b5-1 plans or otherwise. The authorization for the share repurchase programs may be terminated, increased or decreased by the Company’s Board of Directors in its discretion at any time. The timing, amount and manner of share repurchases may depend upon market conditions and economic circumstances, availability of investment opportunities, the availability and costs of financing, currency fluctuations, the market price of the Company's common stock, other uses of capital and other factors.
Dividends
On April 28, 2022, the Company’s Board of Directors declared a quarterly dividend of $0.23 per share of the Company’s common stock to be paid on June 24, 2022, to shareholders of record on the close of business on May 27, 2022. Future dividend declarations are subject to review and approval by the Company’s Board of Directors. Dividends paid through the second fiscal quarter of 2022 and the preceding fiscal year are as follows:
Declaration DateRecord DatePayment DateCash Amount (per share)
January 26, 2022February 25, 2022March 25, 2022$0.23
September 23, 2021October 15, 2021October 29, 2021$0.21
July 14, 2021July 30, 2021August 27, 2021$0.21
April 22, 2021May 28, 2021June 25, 2021$0.21
January 27, 2021February 26, 2021March 26, 2021$0.21
September 17, 2020October 2, 2020October 30, 2020$0.19