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Common Stock Repurchases
6 Months Ended
Jul. 01, 2012
Common Stock Repurchases/Comprehensive Income [Abstract]  
Common Stock Repurchases

Note 3 — Common Stock Repurchases

On March 9, 2011, the Company’s board of directors authorized a stock repurchase program of up to $750.0 million of the Company’s common stock. As of July 1, 2012, $75.0 million remained available under this stock repurchase program. The Company repurchased 17.9 million shares for $138.0 million during the three months ended July 1, 2012 and 22.5 million shares for $176.2 million during the six months ended July 1, 2012. The Company repurchased 41.6 million shares for $300.0 million during the three months ended July 3, 2011 and 56.3 million shares for $396.8 million during the six months ended July 3, 2011. Repurchased shares are retired immediately after the repurchases are completed. Retirement of repurchased shares is recorded as a reduction of common stock and additional paid-in capital. On August 1, 2012, the Company’s board of directors authorized the repurchase of up to an additional $500.0 million of the Company’s common stock.