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Stock Repurchase Program
3 Months Ended
Apr. 01, 2025
Stock Repurchase Program.  
Stock Repurchase Program

(11) Stock Repurchase Programs

On February 19, 2025, our Board of Directors (the "Board") approved a stock repurchase program under which we may repurchase up to $500.0 million of our common stock. This new stock repurchase program commenced on February 24, 2025, has no expiration date, and replaced a previous stock repurchase program which was approved on March 17, 2022 that authorized the Company to repurchase up to $300.0 million of our common stock. All repurchases to date under our stock repurchase programs have been made through open market transactions. The timing and the amount of any repurchases are determined by management under parameters established by the Board, based on an evaluation of our stock price, market conditions, and other corporate considerations, including complying with Rule 10b5-1 trading arrangements under the Securities Exchange Act of 1934, as amended (the "Exchange Act"), and as applicable.

For the 13 weeks ended April 1, 2025, we paid $50.2 million, excluding excise taxes, to repurchase 281,091 shares of our common stock. This includes $30.0 million repurchased under our prior authorization and $20.2 million repurchased under our current authorization. For the 13 weeks ended March 26, 2024, we paid $8.9 million, excluding excise taxes, to repurchase 60,262 shares of our common stock. As of April 1, 2025, $479.8 million remained under our authorized stock repurchase program.