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Stock Repurchase Program
 9 Months Ended
Sep. 28, 2019
Equity [Abstract]  
Stock Repurchase Program
17. Stock Repurchase Program
In September 2015, the Company’s Board of Directors (Board) authorized a stock repurchase program, whereby the Company could purchase up to 5.0 million shares of its common stock over a period of up to three years (2015 Repurchase Program). A total of 3.1 million shares were purchased by the Company pursuant to the 2015 Repurchase Program prior to its expiration in September 2018.
In July 2018, the Board approved a new stock repurchase program, authorizing the Company to purchase up to 5.0 million additional shares of its common stock over a period of up to three years (2018 Repurchase Program). As of September 28, 2019, 4.8 million shares remained available for repurchase pursuant the 2018 Repurchase Program.
The following table provides a summary of the Company’s stock repurchase activities during the three and nine months ended September 28, 2019 and September 29, 2018 (in thousands, except per share amounts):
 
Three Months Ended
 
Nine Months Ended
 
September 28,
2019
 
September 29,
2018
 
September 28,
2019
 
September 29,
2018
Shares repurchased(1)
1

 
—

 
208

 
196

Average cost per share
$
139.91

 
$
—

 
$
134.05

 
$
84.14

Value of shares repurchased
$
70

 
$
—

 
$
27,924

 
$
16,490


______________
(1)
Excludes shares withheld from the shares of its common stock actually issued in connection the vesting of PSU awards to satisfy certain U.S. federal and state tax withholding obligations.