XML 32 R18.htm IDEA: XBRL DOCUMENT v3.20.4
Shareholders' Equity
3 Months Ended
Jan. 02, 2021
Stockholders' Equity Note [Abstract]  
Shareholders' Equity Shareholders' Equity
On August 20, 2019, the Board of Directors approved a share repurchase plan under which the Company is authorized to repurchase $50.0 million of its common stock (the "2019 Program"). During the three months ended January 2, 2021, the Company completed the 2019 Program by repurchasing 73,560 shares under this program for $5.3 million and at an average price of $72.44. During the three months ended January 4, 2020, the Company repurchased 90,667 shares under this program for $6.3 million at an average price of $69.82 per share.
On August 13, 2020, the Board of Directors approved a new share repurchase program that authorizes the Company to repurchase up to $50.0 million of its common stock (the "2021 Program") beginning upon expiration of the Company’s 2019 Program. On November 18, 2020, the Board of Directors approved an additional $50.0 million in share repurchase authority under the existing 2021 Program such that there now exists a total of $100.0 million in share repurchase authority under the program. During the three months ended January 2, 2021, the Company repurchased 233,511 shares under this program for $17.5 million at an average price of $74.70 per share. As of January 2, 2021, $82.6 million of authority remained under the 2021 Program. The 2021 Program has no expiration.
All shares repurchased under the aforementioned programs were recorded as treasury stock.