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Stock Repurchase Program
 9 Months Ended
Oct. 02, 2021
Equity [Abstract]  
Stock Repurchase Program
17. Stock Repurchase Program
In October 2021, the Company’s Board of Directors (Board) approved a stock repurchase program, authorizing the Company to purchase up to 3.0 million shares of its common stock over a period of up to three years (2021 Repurchase Program). The Company expects to fund the 2021 Repurchase Program through its available cash, cash expected to be generated from future operations, the credit facility and other potential sources of capital. The 2021 Repurchase Program can be carried out at the discretion of a committee comprised of the CEO and CFO through open market purchases, one or more Rule 10b5-1 trading plans, block trades and privately negotiated transactions.
In July 2018, the Company’s Board approved a 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). During the third quarter of 2021, the 2018 Repurchase Program expired.
The following table provides a summary of the Company’s stock repurchase activities (in thousands, except per share amounts):
Three Months EndedNine Months Ended
October 2,
2021		September 26,
2020		October 2,
2021		September 26,
2020
Shares repurchased(1)
— — 547 4 
Average cost per share$— $— $235.88 $164.44 
Value of shares repurchased$— $— $128,917 $591 
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(1)     Excludes shares withheld from the shares of its common stock actually issued in connection with the vesting of PSU or RSU awards to satisfy certain U.S. federal and state tax withholding obligations.