
	Stock 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. In December 2012, the Company’s Board of Directors authorized an additional $750.0 million for stock repurchases, bringing the total amount authorized for stock repurchases to $1.25 billion, of which $1.02 billion remained available for stock repurchases as of December 30, 2012. Under this program, shares repurchased are recorded as a reduction to capital in excess of par value and retained earnings in the Company’s Consolidated Balance Sheet. From inception of this stock repurchase program through December 30, 2012, the Company had repurchased 5.73 million shares for $234.0 million, of which 5.65 million shares for an aggregate purchase price of $230.0 million were repurchased during the fiscal year ended December 30, 2012. As part of its stock repurchase program, the Company may from time-to-time enter into structured stock repurchase arrangements with financial institutions. These arrangements generally require the Company to make an upfront 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 volume-weighted average price of the Company’s common stock at the expiration date. The initial cash principal payment, as well as the subsequent repayment of principal and return on principal, if settled in cash, are recorded as a component of capital in excess of par value in the Company’s Consolidated Balance Sheet. During the fiscal year ended December 30, 2012, the Company entered into structured stock repurchase arrangements that required upfront cash payments of $40.0 million. These arrangements settled within the fiscal year ended December 30, 2012 and resulted in zero stock repurchases and the Company receiving its original upfront cash payment of $40.0 million and returns totaling $2.7 million.