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Stock Repurchase Programs
9 Months Ended
Sep. 27, 2013
Stock Repurchase Programs

13. 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 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. There were no purchases in the third quarter and negligible purchases in the first nine months of 2013 under this plan.

As of September 27, 2013, we have purchased 70.4 million shares of our common stock under the $600 million repurchase plan at a total cost of $405.7 million, leaving $194.3 million available to be purchased under this plan. There were no purchases in the third quarter of 2013, and we purchased 13.8 million shares for $30.3 million in the first nine months of 2013 under this plan.

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

In addition, we purchased 26 thousand shares for $57 thousand in the third quarter of 2013 and 0.7 million shares for $1.5 million in the first nine months of 2013 to cover minimum withholding taxes on shares issued under employee stock plans.

We record repurchased shares as Treasury stock.