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Share Repurchase Program
3 Months Ended
Apr. 01, 2012
Share Repurchase Program [Abstract]  
Treasury Stock [Text Block]
Share Repurchase Program

During the fourth quarter of fiscal year 2011, the Company’s Board of Directors authorized the repurchase of up to $500.0 million of the Company’s outstanding common stock over a period of up to five years. Under this program, the Company has cumulatively repurchased 1.4 million shares for $64.9 million, of which during the three months ended April 1, 2012, the Company repurchased 1.3 million shares for an aggregate purchase price of $60.9 million. As part of its share repurchase program, the Company may from time-to-time enter into structured share repurchase arrangements with financial institutions. These arrangements generally require the Company to make an up-front cash payment in exchange for the right to receive shares of its common stock or cash at the expiration of the agreement, dependent upon the closing price of the Company’s common stock at the settlement date. In the first quarter of fiscal year 2012, the Company entered into structured share repurchase arrangements which required an upfront cash payment of $20.0 million. These arrangements settled within the quarter and resulted in zero stock repurchases and the Company receiving a net $1.1 million cash payment, which was recorded as a component of capital in excess of par value in the Company’s Condensed Consolidated Balance Sheet. As of April 1, 2012, the Company had approximately $435 million remaining under this share repurchase program.