XML 29 R18.htm IDEA: XBRL DOCUMENT
v3.19.1

STOCKHOLDERS' EQUITY | 3 Months Ended
--- | ---
Mar. 30, 2019
Equity [Abstract] |
STOCKHOLDERS' EQUITY | NOTE 10. STOCKHOLDERS’ EQUITY Accumulated other comprehensive income (loss) activity, net of tax, where applicable, is provided in the following table:
|  | Foreign |  |  | Change in |  |  |  |  |
|  | Currency |  |  | Deferred |  |  |  |  |
|  | Translation |  |  | Pension and |  |  |  |  |
(In millions) |  | Adjustments |  |  | Other |  |  | Total |
Balance at December 29, 2018 |  | $ | (50 | ) |  | $ | (49 | ) |  | $ | (99 | )
Other comprehensive income activity before reclassifications |  |  | 10 |  |  |  | 1 |  |  |  | 11 |
Balance at March 30, 2019 |  | $ | (40 | ) |  | $ | (48 | ) |  | $ | (88 | )
Treasury Stock In November 2018, the Board of Directors approved a stock repurchase program of up to $100 million of its common stock effective January 1, 2019, which extends until the end of 2020 and may be suspended or discontinued at any time. The stock repurchase authorization permits the Company to repurchase stock from time-to-time through a combination of open market repurchases, privately negotiated transactions, 10b5-1 trading plans, accelerated stock repurchase transactions and/or other derivative transactions. The exact number and timing of share repurchases will depend on market conditions and other factors, and will be funded through available cash balances. However, the Company’s ability to repurchase its common stock in 2019 is subject to certain restrictions under the Company’s Term Loan Credit Agreement. During the first quarter of 2019, the Company purchased approximately 4 million shares of its common stock at a cost of $10 million, excluding commissions, and as of March 30, 2019, approximately $90 million remains available for share repurchases under the current stock repurchase authorization. Refer to Item 2, “Unregistered Sales of Equity Securities and Use of Proceeds” in Part II, “Other Information” for additional information. Dividends on Common Stock In February 2019, the Company’s Board of Directors declared a quarterly cash dividend in the amount of $0.025 per share on its common stock, resulting in total cash payments of $14 million. Dividends have been recorded as a reduction to additional paid-in capital as the Company is in an accumulated deficit position. Payment of dividends is permitted under the Company’s Amended Credit Agreement provided that the Company has the required minimum liquidity or fixed charge ratio, but may be limited if the Company does not meet the necessary requirements. Additionally, under the Company’s Term Loan Credit Agreement, payment of dividends is permitted subject to compliance with an annual limit.

X
- References No definition available. + Details
Name: | us-gaap_EquityAbstract
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