XML 81 R26.htm IDEA: XBRL DOCUMENT
v3.19.3.a.u2

Share Repurchase | 3 Months Ended
--- | ---
Dec. 28, 2019
Equity [Abstract] |
Share Repurchase | Share Repurchase On June 13, 2018, the Board of Directors authorized a share repurchase plan to repurchase up to $500.0 million of the Company's outstanding common stock. This share repurchase plan was effective August 1, 2018 and expires on March 27, 2020. Under this authorization, during the first quarter of fiscal 2020, the Company repurchased 1.5 million shares of its common stock for a total consideration of $80.9 million. As of December 28, 2019, $130.6 million remained under this authorization. Subsequent to December 28, 2019, the Company repurchased 0.9 million shares of its common stock for a total consideration of $50.0 million. On November 19, 2019, the Board of Directors authorized the Company to repurchase up to $205 million of its outstanding shares pursuant to an accelerated share repurchase ("ASR") agreement. On November 22, 2019, the Company executed the ASR agreement with Goldman Sachs & Co. ("Goldman Sachs") pursuant to which the Company will repurchase $205 million of the Company's common stock. The initial delivery, of approximately 80% of the shares under the ASR, was 3.3 million shares for which the Company has initially allocated $164.0 million of the $205 million paid to Goldman Sachs. The number of shares of Hologic's common stock that Hologic may receive, or may be required to remit, upon final settlement under the agreement will be based upon the average daily volume weighted-average price of Hologic's common stock during the term of the program, less a negotiated discount. Final settlement of the transaction under the ASR is expected to occur in the second quarter of fiscal 2020. If Hologic is obligated to make an adjustment payment to Goldman Sachs under the ASR, Hologic is able to satisfy such obligation in shares of Hologic's common stock or cash. The Company evaluated the nature of the forward contract aspect of the ASR under ASC 815 and concluded equity classification was appropriate. On November 19, 2019, the Board of Directors also authorized a new share repurchase plan to repurchase up to $500.0 million of the Company's outstanding common stock, effective at the beginning of the third quarter of fiscal 2020.

X
- References No definition available. + Details
Name: | us-gaap_EquityAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- 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 Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 30 -URI http://asc.fasb.org/subtopic&trid=2208821 + Details
Name: | us-gaap_TreasuryStockTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration