XML 37 R22.htm IDEA: XBRL DOCUMENT v3.24.0.1
Common Stock
 12 Months Ended
Dec. 30, 2023
Equity [Abstract]  
Common Stock

11. Common Stock

The Company has 750 million authorized shares of common stock, par value $0.01 per share and 60 million authorized shares of preferred stock, par value $0.01 per share. The number of shares of common stock and treasury stock and the share activity for 2023 and 2022 were as follows:

 

 

 

Common Shares

 

 

 

Treasury Shares

 

 

 

2023

 

 

 

2022

 

 

 

2023

 

 

 

2022

 

Balance at the beginning of the year

 

 

128,040,559

 

 

 

 

135,064,296

 

 

 

 

58,132,478

 

 

 

 

50,252,566

 

Stock plan shares issued

 

 

963,161

 

 

 

 

856,175

 

 

 

 

—

 

 

 

 

—

 

Shares surrendered by optionees

 

 

(229,115

)

 

 

 

(316,450

)

 

 

 

229,115

 

 

 

 

316,450

 

Common stock repurchases

 

 

(2,487,278

)

 

 

 

(7,563,462

)

 

 

 

2,487,278

 

 

 

 

7,563,462

 

Balance at the end of the year

 

 

126,287,327

 

 

 

 

128,040,559

 

 

 

 

60,848,871

 

 

 

 

58,132,478

 

 

At December 30, 2023, no shares of our preferred stock were outstanding. Our Board of Directors has the authority, without action by the Company’s stockholders, to designate and issue our preferred stock in one or more series and to designate the rights, preferences, limitations and privileges of each series of preferred stock, which may be greater than the rights of the Company’s common stock.

In 2023, we repurchased 2.5 million shares of outstanding common stock under the Company’s share repurchase program for $150.0 million. As of December 30, 2023, the Company’s total remaining share repurchase authorization under the program was approximately $434.6 million. The share repurchase program does not obligate the Company to repurchase any specific dollar amount or number of shares and may be suspended or discontinued at any time.