6. STOCKHOLDERS’ EQUITY AND BENEFIT PLANS

Common Stock Repurchase Programs. Purchases of the Company’s common stock are made from time to time pursuant to its repurchase programs, subject to market conditions and at prevailing market prices, through the open market. Repurchased shares of common stock are recorded at cost and become authorized but unissued shares which may be issued in the future for general corporate or other purposes. The Company may terminate or limit its stock repurchase program at any time. In the event the repurchased shares are cancelled, the Company accounts for retirements by allocating the repurchase price to common stock, additional paid-in capital and retained earnings. The repurchase price allocation is based upon the equity contribution associated with historical issuances. The repurchase programs are conducted pursuant to Rule 10b-18 of the Exchange Act. During the First Quarter, the Company completed its $750 million buyback plan authorized in August 2010. The Company repurchased 9.6 million shares of common stock under that plan, of which $38.6 million, or 0.4 million shares, were repurchased during the First Quarter. In addition, the Company repurchased $18.0 million of its common stock in the First Quarter, or 0.2 million shares, under the Company’s $1 billion repurchase plan, which was authorized in 2012. As of March 30, 2013, the Company had $1.0 billion of repurchase authorizations remaining under the combined repurchase plans.

During the First Quarter, the Company effectively retired 0.6 million shares of common stock repurchased under its repurchase programs. The effective retirement of repurchased common stock decreased common stock by $6,000, additional paid-in capital by $2.0 million, retained earnings by $54.6 million and treasury stock by $56.5 million.

At December 29, 2012 and March 30, 2013, all treasury stock had been effectively retired.

The following table reflects the Company’s common stock repurchase activity for the periods indicated (in millions):

				For the 13 Weeks Ended March 30, 2013			For Fiscal Year 2012
Fiscal Year Authorized	Dollar Value Authorized		Termination Date	Number of Shares Repurchased	Dollar Value Repurchased		Number of Shares Repurchased	Dollar Value Repurchased
2012	$	1,000.0	December 2016	0.2	$	18.0	0.0	$	0.0
2010	$	30.0	None	0.0	$	0.0	0.0	$	0.0
2010	$	750.0	December 2013	0.4	$	38.6	3.0	$	261.3

Stock-Based Compensation Plans. The Company accounts for stock-based compensation in accordance with the provisions of ASC 718, Compensation-Stock Compensation (“ASC 718”), using the Black-Scholes option pricing model to determine the fair value of stock options and stock appreciation rights at the date of grant. The Company’s grants under its current stock-based compensation plans generally include: (i) stock options and restricted stock for its international employees, (ii) restricted stock units for its non-employee directors and (iii) stock appreciation rights, restricted stock and restricted stock units for its U.S.-based employees. There have been no significant changes to the Company’s stock-based compensation plans since the 2012 Form 10-K.

The following table summarizes stock options and stock appreciation rights activity during the First Quarter:

Stock Options and Stock Appreciation Rights	Number of Shares		Weighted- Average Exercise Price		Weighted- Average Remaining Contractual Term (Years)	Aggregate Intrinsic Value
	in thousands					in thousands
Outstanding at December 29, 2012	1,039		$	63.56	6.4	$	36,708
Granted	32		105.47
Exercised	(101	)	32.99			6,844
Forfeited or expired	(12	)	82.79
Outstanding at March 30, 2013	958		67.97		6.4	35,658
Exercisable at March 30, 2013	617		51.21		5.6	30,582
Nonvested at March 30, 2013	341		98.23		7.8	5,076
Expected to vest	309		$	98.23	7.8	$	4,618

The aggregate intrinsic value shown in the table above is before income taxes and is based on (i) the exercise price for outstanding and exercisable options/rights at March 30, 2013 and (ii) the fair market value of the Company’s common stock on the exercise date for options/rights that were exercised during the First Quarter.

Stock Options and Stock Appreciation Rights Outstanding and Exercisable. The following table summarizes information with respect to stock options and stock appreciation rights outstanding and exercisable at March 30, 2013:

	Stock Options and Stock Appreciation Rights Outstanding				Stock Options and Stock Appreciation Rights Exercisable
				Weighted-
		Weighted-		Average		Weighted-
		Average		Remaining		Average
	Number of	Exercise		Contractual	Number of	Exercise
Range of Exercise Prices	Shares	Price		Term (Years)	Shares	Price
	in thousands				in thousands
$13.65 - $26.29	223	$	17.87	3.9	180	$	18.81
$26.29 - $39.44	216	34.79		5.3	215	34.78
$39.44 - $52.58	30	43.15		4.8	30	43.15
$65.73 - $78.88	7	68.59		8.4	3	69.53
$78.88 - $92.02	196	81.46		7.6	106	81.23
$92.02 - $105.17	8	99.37		9.3	1	93.29
$105.17 - $118.31	25	106.40		8.0	0	0.00
$118.31 - $131.46	253	128.02		8.5	82	127.93
Total	958	$	67.97	6.4	617	$	51.21

Restricted Stock and Restricted Stock Units. The following table summarizes restricted stock and restricted stock unit activity during the First Quarter:

Restricted Stock and Restricted Stock Units	Number of Shares		Weighted-Average Grant-Date Fair Value
	IN THOUSANDS
Nonvested at December 29, 2012	277		$	68.69
Granted	104		106.22
Vested	(139	)	53.62
Forfeited	(7	)	72.73
Nonvested at March 30, 2013	235		94.09
Expected to vest	216		$	94.09

The total fair value of restricted stock and restricted stock units vested during the First Quarter was approximately $14.7 million.

Accumulated Other Comprehensive Income. The following table illustrates changes in the balances of each component of accumulated other comprehensive income, net of taxes (in thousands):

	For the 13 Weeks Ended March 30, 2013
				Unrealized
	Currency			Gains (Losses) on			Gains
	Translation			Securities Available			(Losses) on
	Adjustments			for Sale			Forward Contracts			Total
Beginning balance	$	30,181		$	(475	)	$	(946	)	$	28,760
Other comprehensive (loss) income before reclassifications, net of tax expense of $3,474	(19,837		)	(71		)	3,345			(16,563		)

Amounts reclassed from accumulated other comprehensive income, net of tax expense of $87	0			0			(46		)	(46		)

Total other comprehensive (loss) income	(19,837		)	(71		)	3,391			(16,517		)

Ending balance	$	10,344		$	(546	)	$	2,445		$	12,243

	For the 13 Weeks Ended March 31, 2012
			Unrealized
	Currency		Gains (Losses) on			Gains
	Translation		Securities Available			(Losses) on
	Adjustments		for Sale			Forward Contracts			Total
Beginning balance	$	18,953	$	(446	)	$	3,673		$	22,180
Other comprehensive income (loss) before reclassifications, net of tax benefit of $1,081	10,071		50			(497		)	9,624

Amounts reclassed from accumulated other comprehensive income, net of tax expense of $444	0		0			852			852

Total other comprehensive income (loss)	10,071		50			(1,349		)	8,772

Ending balance	$	29,024	$	(396	)	$	2,324		$	30,952