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Stock Repurchase Program | 9 Months Ended
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Oct. 03, 2015
Equity [Abstract] |
Stock Repurchase Program | Stock Repurchase Programs 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 provided that it 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 October 3, 2015, approximately 1.2 million shares were repurchased at an average cost of $41.44 per share for a total repurchase cost of $48.5 million. During the nine months ended October 3, 2015, approximately 3.5 million shares were repurchased at an average cost of $36.71 per share for a total repurchase cost of $130.2 million. During the three and nine months ended September 27, 2014, approximately 2.4 million shares were repurchased at an average cost of $21.95 per share for a total repurchase cost of $52.7 million. As of October 3, 2015, all of the authorized 9.0 million shares had been repurchased under this program. In September 2015, the Board authorized a new stock repurchase program, whereby the Company may purchase up to 5.0 million shares of its common stock over a period of up to three years. As of October 3, 2015, 5.0 million shares remained authorized for repurchase under this program. 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.

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- 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 No definition available. + Details
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