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Open Market Share Repurchase Program
8 Months Ended
Sep. 09, 2018
Equity [Abstract]  
Open Market Share Repurchase Program

9. Open Market Share Repurchase Program

During the third quarter of 2018, the Company repurchased and retired 397,490 shares of its common stock under its Board of Directors-approved open market share repurchase program for a total of approximately $109.1 million, or an average price of $274.53 per share. During the three fiscal quarters of 2018, the Company repurchased and retired 1,751,054 shares of its common stock under its Board of Directors-approved open market share repurchase program for a total of approximately $429.2 million, or an average price of $245.10 per share. As of September 9, 2018, the end of the third quarter, the Company had a total remaining authorized amount for share repurchases of approximately $320.8 million. Subsequent to the third quarter and through October 11, 2018, the Company repurchased and retired an additional 36,671 shares of common stock for a total of approximately $10.0 million, or an average price of $273.01 per share.

During the third quarter of 2017, the Company entered into a $1.0 billion accelerated share repurchase agreement (the “ASR Agreement”) with a counterparty. Pursuant to the terms of the ASR Agreement, the Company used a portion of the proceeds from the Company’s 2017 recapitalization to pay the counterparty $1.0 billion in cash and received 4,558,863 shares of the Company’s common stock. Final settlement of the ASR Agreement occurred on October 11, 2017. In connection with the ASR Agreement, the Company received and retired a total of 5,218,670 shares of its common stock at an average price of $191.62, including 4,558,863 shares of its common stock received and retired during the third quarter of 2017. During the three fiscal quarters of 2017, the Company repurchased and retired 4,639,223 shares of its common stock under its Board of Directors-approved open market share repurchase program for a total of approximately $1.01 billion.