XML 60 R15.htm IDEA: XBRL DOCUMENT v3.2.0.727
Stock Repurchase Program
6 Months Ended
Jul. 04, 2015
Equity [Abstract]  
Stock Repurchase Program
Stock Repurchase Program
In February 2013, the Company’s board of directors authorized the repurchase of up to 6.0 million shares of the Company’s common stock under a stock repurchase program. In October 2014, the Company’s board of directors increased the number of shares of the Company’s common stock authorized for repurchase by 3.0 million shares, bringing the total number of shares of the Company’s common stock authorized under such repurchase program from inception to 9.0 million. The stock repurchase program may be carried out at the discretion of a committee comprised of the Company’s Chief Executive Officer and Chief Financial Officer through open market purchases, one or more Rule 10b5-1 trading plans, block trades and in privately negotiated transactions. During the three months ended July 4, 2015, approximately 2.1 million shares were repurchased at an average cost of $34.56 per share for a total repurchase cost of $73.4 million. During the six months ended July 4, 2015, approximately 2.4 million shares were repurchased at an average cost of $34.39 per share for a total repurchase cost of $81.6 million. During the three and six months ended June 28, 2014, approximately 2.0 million shares were repurchased at an average cost of $24.27 per share for a total repurchase cost of $49.2 million.