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Common Stock (Tables) | 9 Months Ended
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Sep. 29, 2024
Equity [Abstract] |
Schedule of repurchase activity | The following table summarizes our repurchase activity under our share repurchase programs for the three and nine months ended September 29, 2024 and September 24, 2023:
(In thousands, except average price per share) |  | Total Number of Shares Purchased |  | Average Price Paid per Share |  | Aggregate Cost of Shares Purchased |  | Maximum Dollar Value of Shares that May Yet Be Purchased Under the Plans or Programs
Three Months Ended |  |  |  |
September 29, 2024 |  | — |  |  | $ | — |  |  | $ | — |  |  | $ | 90,160 |
September 24, 2023 |  | — |  |  | $ | — |  |  | $ | — |  |  | $ | 90,160 |
(In thousands, except average price per share) |  | Total Number of Shares Purchased (a) |  | Average Price Paid per Share |  | Aggregate Cost of Shares Purchased (b) |  | Maximum Dollar Value of Shares that May Yet Be Purchased Under the Plans or Programs
Nine Months Ended |  |  |  |
September 29, 2024 |  | — |  |  | $ | — |  |  | $ | — |  |  | $ | 90,160 |
September 24, 2023 |  | 2,523 |  |  | $ | 83.10 |  |  | $ | 209,640 |  |  | $ | 90,160 |
(a) Shares repurchased during the nine months ended September 24, 2023 included 2,176,928 shares repurchased on March 1, 2023 from certain funds affiliated with, or managed by, Starboard Value LP (collectively, “Starboard”), at a price of $82.52 per share, for aggregate consideration of $179.6 million. (b) Aggregate cost of shares purchased for the nine months ended September 24, 2023 excluded $2.8 million of transaction costs directly attributable to share repurchases, including a 1% excise tax incurred under the Inflation Reduction Act of 2022. Of these costs, $2.1 million were classified as non-cash financing activities during the nine months ended September 24, 2023.

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- Definition Tabular disclosure of accelerated share repurchase (ASR) programs. An ASR is a combination of transactions that permits an entity to purchase a targeted number of shares immediately with the final purchase price of those shares determined by an average market price over a fixed period of time. An accelerated share repurchase program is intended to combine the immediate share retirement benefits of a tender offer with the market impact and pricing benefits of a disciplined daily open market stock repurchase program. ASRs can be disclosed as part of stockholders' equity. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 505 -SubTopic 30 -Name Accounting Standards Codification -Section 25 -Paragraph 5 -Publisher FASB -URI https://asc.fasb.org/1943274/2147481138/505-30-25-5 + Details
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- References No definition available. + Details
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