Shareholders' Equity

6 Months Ended

Mar. 30, 2019

Stockholders' Equity Note [Abstract]

Shareholders' Equity

Shareholders' Equity

On February 14, 2018, the Board of Directors approved a stock repurchase plan under which the Company is authorized to repurchase $200.0 million of its common stock (the "2018 Program"). The 2018 Program commenced upon completion of the 2016 Program, as defined below. During the three months ended March 30, 2019, the Company repurchased 991,683 shares for $56.2 million, at an average price of $56.72 per share. During the six months ended March 30, 2019, the Company repurchased 1,861,632 shares for $106.3 million, at an average price of $57.10. As of March 30, 2019, $72.5 million of authority remained under the 2018 Program.

On June 6, 2016, the Board of Directors authorized a multi-year stock repurchase program under which the Company was authorized to repurchase up to $150.0 million of its common stock beginning in fiscal 2017 (the "2016 Program"). During the three months ended March 31, 2018, the Company repurchased 512,943 shares for $31.6 million, at an average price of $61.63 per share. During the six months ended March 31, 2018, the Company repurchased 671,409 shares for $41.2 million, at an average price of $61.30 per share under the 2016 Program.

All shares repurchased under the aforementioned programs were recorded as treasury stock.