SHAREOWNERS' EQUITY

12 Months Ended

Jan. 02, 2016

Equity [Abstract]

SHAREOWNERS' EQUITY

SHAREOWNERS' EQUITY

The Company has the authority to issue 65,000,000, $.10 par value shares.

During 2015, 2014, and 2013, pursuant to a stock repurchase program authorized by the Company’s Board of Directors, the Company repurchased and retired the following amounts and number of shares:

(In millions, except share amounts)	2015		2014		2013
Repurchases	$	46.3	$	9.0	$	2.8
Shares	1,568,731		243,020		88,200

In 2015, the Company retired 65,209 shares that were received from employees as payment for the exercise price of their stock options and taxes owed upon the exercise of their stock options and release of their restricted awards.  The Company also retired 958 shares that had been previously granted as stock awards to employees, but were forfeited upon not meeting the required restriction criteria or termination. In 2014, the Company retired 40,679 shares that were received from employees as payment for the exercise price of their stock options and taxes owed upon the exercise of their stock options and release of their restricted awards.  The Company also retired 68,675 shares that had been previously granted as a stock award to employees, but were forfeited upon termination.  In 2013, the Company retired 273,799 shares that were received from employees as payment for the exercise price of their stock options and taxes owned upon the exercise of their stock options and release of their restricted awards. The Company also retired 6,190 shares that had been previously granted as stock awards to employees, but were forfeited upon termination.

In 2015, 2014, and 2013, the Company recorded $1.4 million, $2.3 million, and $5.1 million, respectively, as a reduction in tax liability and an increase to shareowners’ equity as a result of stock option exercises.