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Share Repurchases | 12 Months Ended
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Jan. 01, 2022
Share Repurchases |
Share Repurchases | 14. Share Repurchases The Company repurchased 6.5 million shares, 0.2 million shares and 0.3 million shares of its common stock for $1.15 billion, $16.3 million and $26.7 million during fiscal 2021, 2020 and 2019, respectively. Shares repurchased in fiscal 2021 included purchases of 4.0 million shares through a “modified Dutch Auction” tender offer, 1.7 million shares through an accelerated share repurchase (“ASR”) agreement and 0.8 million shares through the Company’s existing share repurchase program. The tender offer commenced on August 3, 2021 and expired on August 30, 2021. Shares repurchased through the tender offer were priced at $160.00 per share, for an aggregate cost of $640.7 million, excluding fees and expenses relating to the tender offer. Under the ASR Agreement, the Company will repurchase an aggregate of $400 million of its common stock. In fiscal 2021, the Company received an aggregate initial share delivery of approximately 1.7 million shares, with the remaining shares, if any, expected to be delivered in the first fiscal quarter of 2022. Shares purchased through the tender offer, ASR agreement and share repurchase program were effectively retired upon repurchase.

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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 Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 30 -URI http://asc.fasb.org/subtopic&trid=2208821 + Details
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