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Stock Repurchase Programs
12 Months Ended
Dec. 28, 2012
Stock Repurchase Programs

15. Stock Repurchase Programs

We repurchase outstanding common stock under two plans authorized by our Board of Directors. In addition, we purchase shares to cover withholding taxes on shares issued under employee stock plans.

We intend to continue to use cash generated by employee stock option exercises (other than those of Company officers and board members) to repurchase stock through the use of a 10b5-1 plan. As of December 28, 2012, we have purchased 8.5 million shares of our common stock under this plan since February 2006, at a total cost of $101.4 million, including $0.1 million (27 thousand shares) in 2012 and $0.6 million (0.1 million shares) in 2011. On November 29, 2012, our Board of Directors authorized a one-year extension of this plan.

We intend to continue to make repurchases of our outstanding common stock under a previously authorized $600 million repurchase plan. As of December 28, 2012, we have purchased 56.6 million shares of our common stock under the $600 million repurchase plan at a total cost of $375.4 million, leaving $224.6 million available to be purchased under this plan. We purchased $22 thousand (9 thousand shares) in 2012. We did not purchase any shares under this plan in 2011.

We may change our repurchase activity and we provide no assurance that we will continue our repurchase activity in the future.

In addition, during 2012 we purchased 1.0 million shares for $3.7 million to cover minimum withholding taxes on shares issued under employee stock plans. In 2011, we purchased 0.9 million shares for $4.5 million to cover minimum withholding taxes on shares issued under employee stock plans.

We record repurchased shares as Treasury stock.