CAPITAL STOCK

6 Months Ended

Jun. 29, 2024

Equity [Abstract]

CAPITAL STOCK

CAPITAL STOCK

On October 30, 2019, the Board of Directors approved an indefinite term $500 open-market share repurchase program (the 2019 Plan). On October 4, 2023, the Board of Directors approved an indefinite term $1,000 open-market share repurchase program (the 2023 Plan).

During the three and six months ended June 29, 2024, the Company repurchased and retired 0.6 shares for $79.0. During the three and six months ended July 1, 2023, the Company repurchased and retired 0.3 shares for $30.0 and 0.7 shares for $60.0, respectively. The repurchases the Company made during the second quarter of 2024 exhausted the remaining capacity under the 2019 Plan. As of June 29, 2024, there was $1,000 of remaining authorization left under the 2023 Plan.

Separate from the open-market share repurchase program, the Company withholds shares of common stock in settlement of employee tax withholding obligations due upon the vesting of equity-based compensation awards. During the three and six months ended June 29, 2024, the Company withheld a nominal number of shares and 0.1 shares for $0.3 and $12.8, respectively. During the three and six months ended July 1, 2023, the Company withheld a nominal number of shares and 0.1 shares for $0.2 and $6.4, respectively.