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Stockholders' Deficit | 6 Months Ended
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Jun. 20, 2021
Federal Home Loan Banks [Abstract] |
Stockholders' Deficit | 4. Stockholders’ Deficit The following table summarizes changes in stockholders’ deficit for the second quarter of 2021.
|  | Common Stock |  |  | Additional Paid-in Capital |  |  | Retained Deficit |  |  | Accumulated Other Comprehensive Loss |
|  | Shares |  |  | Amount |
Balance at March 28, 2021 |  |  | 38,818,197 |  |  | $ | 388 |  |  | $ | 6,612 |  |  | $ | (3,240,842 | ) |  | $ | (2,238 | )
Net income |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 116,619 |  |  |  | — |
Dividends declared on common stock and equivalents ($0.94 per share) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (34,680 | ) |  |  | — |
Issuance and cancellation of stock awards, net |  |  | 837 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Tax payments for restricted stock upon vesting |  |  | (110 | ) |  |  | — |  |  |  | (43 | ) |  |  | — |  |  |  | — |
Purchases of common stock |  |  | (2,012,596 | ) |  |  | (20 | ) |  |  | (12,181 | ) |  |  | (987,799 | ) |  |  | — |
Exercise of stock options |  |  | 47,243 |  |  |  | 1 |  |  |  | 5,331 |  |  |  | — |  |  |  | — |
Non-cash equity-based compensation expense |  |  | — |  |  |  | — |  |  |  | 8,296 |  |  |  | — |  |  |  | — |
Other |  |  | — |  |  |  | — |  |  |  | (244 | ) |  |  | — |  |  |  | — |
Currency translation adjustment |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 230 |
Balance at June 20, 2021 |  |  | 36,853,571 |  |  | $ | 369 |  |  | $ | 7,771 |  |  | $ | (4,146,702 | ) |  | $ | (2,008 | )
The following table summarizes changes in stockholders’ deficit for the two fiscal quarters of 2021.
|  |  |  |  |  |  |  |  |  |  |  |  |  | Accumulated |
|  | Common Stock |  |  | Additional |  |  |  |  |  | Other |
|  |  |  |  | Paid-in |  |  | Retained |  |  | Comprehensive |
|  | Shares |  |  | Amount |  |  | Capital |  |  | Deficit |  |  | Loss |
Balance at January 3, 2021 |  |  | 38,868,350 |  |  | $ | 389 |  |  | $ | 5,122 |  |  | $ | (3,303,492 | ) |  | $ | (2,424 | )
Net income |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 234,380 |  |  |  | — |
Dividends declared on common stock and equivalents ($1.88 per share) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (71,155 | ) |  |  | — |
Issuance and cancellation of stock awards, net |  |  | (1,918 | ) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Tax payments for restricted stock upon vesting |  |  | (2,901 | ) |  |  | — |  |  |  | (1,087 | ) |  |  | — |  |  |  | — |
Purchases of common stock |  |  | (2,078,466 | ) |  |  | (21 | ) |  |  | (18,544 | ) |  |  | (1,006,435 | ) |  |  | — |
Exercise of stock options |  |  | 68,506 |  |  |  | 1 |  |  |  | 9,024 |  |  |  | — |  |  |  | — |
Non-cash equity-based compensation expense |  |  | — |  |  |  | — |  |  |  | 13,500 |  |  |  | — |  |  |  | — |
Other |  |  | — |  |  |  | — |  |  |  | (244 | ) |  |  | — |  |  |  | — |
Currency translation adjustment |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 416 |
Balance at June 20, 2021 |  |  | 36,853,571 |  |  | $ | 369 |  |  | $ | 7,771 |  |  | $ | (4,146,702 | ) |  | $ | (2,008 | )
On April 30, 2021, the Company entered into a $1.0 billion accelerated share repurchase agreement (the “ASR Agreement”) with a counterparty. Refer to Note 5 for additional information related to this transaction. Subsequent to the end of the second quarter, on July 20, 2021, the Company’s Board of Directors authorized a new share repurchase program to repurchase up to $1.0 billion of the Company’s common stock. This repurchase program replaces the Company’s previously approved $1.0 billion share repurchase program, which was fully utilized in connection with the ASR Agreement. Also on July 20, 2021 , the Company’s Board of Directors declared a $ 0.94 per share quarterly dividend on its outstanding common stock for shareholders of record as of September 15, 2021 , to be paid on September 30, 2021 . The following table summarizes changes in stockholders’ deficit for the second quarter of 2020.
|  |  |  |  |  |  |  |  |  |  |  |  |  | Accumulated |
|  | Common Stock |  |  | Additional |  |  |  |  |  | Other |
|  |  |  |  | Paid-in |  |  | Retained |  |  | Comprehensive |
|  | Shares |  |  | Amount |  |  | Capital |  |  | Deficit |  |  | Loss |
Balance at March 22, 2020 |  |  | 39,039,599 |  |  | $ | 390 |  |  | $ | 12,474 |  |  | $ | (3,398,986 | ) |  | $ | (6,068 | )
Net income |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 118,668 |  |  |  | — |
Dividends declared on common stock and equivalents ($0.78 per share) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (30,697 | ) |  |  | — |
Issuance and cancellation of stock awards, net |  |  | 4,068 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Tax payments for restricted stock upon vesting |  |  | (91 | ) |  |  | — |  |  |  | (31 | ) |  |  | — |  |  |  | — |
Exercise of stock options |  |  | 303,637 |  |  |  | 3 |  |  |  | 14,693 |  |  |  | — |  |  |  | — |
Non-cash equity-based compensation expense |  |  | — |  |  |  | — |  |  |  | 5,115 |  |  |  | — |  |  |  | — |
Currency translation adjustment |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 1,533 |
Balance at June 14, 2020 |  |  | 39,347,213 |  |  | $ | 393 |  |  | $ | 32,251 |  |  | $ | (3,311,015 | ) |  | $ | (4,535 | )
The following table summarizes changes in stockholders’ deficit for the two fiscal quarters of 2020.
|  |  |  |  |  |  |  |  |  |  |  |  |  | Accumulated |
|  | Common Stock |  |  | Additional |  |  |  |  |  | Other |
|  |  |  |  | Paid-in |  |  | Retained |  |  | Comprehensive |
|  | Shares |  |  | Amount |  |  | Capital |  |  | Deficit |  |  | Loss |
Balance at December 29, 2019 |  |  | 38,934,009 |  |  | $ | 389 |  |  | $ | 243 |  |  | $ | (3,412,649 | ) |  | $ | (3,742 | )
Net income |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 240,270 |  |  |  | — |
Dividends declared on common stock and equivalents ($1.56 per share) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (61,139 | ) |  |  | — |
Issuance and cancellation of stock awards, net |  |  | 5,713 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Tax payments for restricted stock upon vesting |  |  | (6,020 | ) |  |  | — |  |  |  | (1,827 | ) |  |  | — |  |  |  | — |
Purchases of common stock |  |  | (271,064 | ) |  |  | (3 | ) |  |  | (988 | ) |  |  | (78,599 | ) |  |  | — |
Exercise of stock options |  |  | 684,575 |  |  |  | 7 |  |  |  | 24,794 |  |  |  | — |  |  |  | — |
Non-cash equity-based compensation expense |  |  | — |  |  |  | — |  |  |  | 10,029 |  |  |  | — |  |  |  | — |
Adoption of credit losses standard |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 1,102 |  |  |  | — |
Currency translation adjustment |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (793 | )
Balance at June 14, 2020 |  |  | 39,347,213 |  |  | $ | 393 |  |  | $ | 32,251 |  |  | $ | (3,311,015 | ) |  | $ | (4,535 | )

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- Definition The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08(e)(1)) -URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.3-04) -URI http://asc.fasb.org/extlink&oid=120397183&loc=d3e187085-122770 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -URI http://asc.fasb.org/topic&trid=2208762 + Details
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