XML 38 R22.htm IDEA: XBRL DOCUMENT
v3.19.2

Stockholders' Equity | 12 Months Ended
--- | ---
Jun. 29, 2019
Stockholders' Equity Note [Abstract] |
Stockholders' Equity | Note 14. Stockholders' Equity Repurchase of Common Stock Fiscal 2017 In September 2016, the Board increased the Company’s previously authorized stock repurchase program from $100 million to $150 million. Under the revised repurchase authorization, the Company may repurchase up to $150 million of the Company’s common stock from time to time at the discretion of the Company’s management. This stock repurchase authorization was to expire on December 31, 2017. During fiscal 2017, the Company repurchased approximately 10.5 million shares of common stock in open market purchases at an average price of $8.75 per share under the stock repurchase program authorized on February 1, 2016. The total purchase price of these repurchases under the stock repurchase program of $92.0 million was reflected as a decrease to common stock based on the stated par value per share with the remainder charged to accumulated deficit. Fiscal 2018 In December 2017, the Board of Directors of the Company (the “Board”) authorized a further extension of the Company's stock repurchase program for an additional three months to expire on March 31, 2018. In February 2018, the Board authorized the Company to increase its common stock repurchase program from $150 million to $200 million through open market or private transactions. The $50 million increase in authorized repurchases is in addition to the $150 million repurchase program announced in September 2016. The Board also extended the period during which repurchases could be made to September 30, 2019. During fiscal 2018, the Company repurchased approximately 4.4 million shares of its common stock in open market purchases at an average price of $9.25 per share under the stock repurchase program authorized by the Board. The total purchase price of these repurchases under the stock repurchase program of $40.9 million was reflected as a decrease to common stock based on the stated par value per share with the remainder charged to accumulated deficit. Fiscal 2019 During fiscal 2019, the Company repurchased approximately 1.1 million shares of its common stock in open market purchases at an average price of $10.14 per share under the stock repurchase program authorized by the Board. The total purchase price of these repurchases under the stock repurchase program of $11.3 million was reflected as a decrease to common stock based on the stated par value per share with the remainder charged to accumulated deficit. As of June 29, 2019, the Company had remaining authorization of $51.4 million for repurchase. The number of shares to be repurchased and the timing of such repurchases will be based on several factors, including business and financial market conditions. All common shares repurchased during fiscal 2019, 2018 and 2017 under this program have been canceled and retired. Preferred Stock The Company’s Board of Directors has authority to issue up to 1,000,000 shares of undesignated preferred stock and to determine the powers, preferences and rights and the qualifications, limitations or restrictions granted to or imposed upon any wholly unissued shares of undesignated preferred stock and to fix the number of shares constituting any series and the designation of such series, without the consent of the Company’s stockholders. The preferred stock could be issued with voting, liquidation, dividend and other rights superior to those of the holders of common stock. Subsequent issuance of any preferred stock by the Company’s Board of Directors, under some circumstances, could have the effect of delaying, deferring or preventing a change in control.

X
- References No definition available. + Details
Name: | us-gaap_StockholdersEquityNoteAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -URI http://asc.fasb.org/topic&trid=2208762 + Details
Name: | us-gaap_StockholdersEquityNoteDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration