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Subsequent Events
12 Months Ended
Dec. 28, 2024
Subsequent Events [Abstract]  
Subsequent Events

23. Subsequent Events

 

On February 4, 2025, the Company's Board of Directors authorized the repurchase of up to $1 billion of shares of the Company’s outstanding common stock over the next two years on the open market or in privately negotiated transactions or otherwise (including pursuant to a Rule 10b5-1 trading plan, block trades and accelerated share repurchase transactions), in accordance with applicable securities laws. The new $1 billion share repurchase authorization replaced a then existing authorization, effective on February 4, 2025, that otherwise would have expired on January 29, 2026.

 

The new purchases, if made, will occur from time to time depending on market conditions. The newly announced share repurchase authorization does not obligate the Company to repurchase any dollar amount or number of shares of common stock. The authorization is in effect until February 4, 2027, and may be suspended or discontinued at any time.