Stockholders' Equity

9 Months Ended

Jul. 06, 2014

Stockholders' Equity Note [Abstract]

Stockholders' Equity

    STOCKHOLDERS’ EQUITY

Repurchases of common stock— In November 2012 and August 2013, the Board of Directors approved two programs, each of which provided for repurchase authorizations for up to $100.0 million in shares of our common stock, expiring November 2014 and November 2015, respectively. Additionally, in February 2014, the Board of Directors approved a program which provides repurchase authorization for up to an additional $200.0 million in shares of our common stock, expiring November 2015. During fiscal 2014, we repurchased 4.95 million shares at an aggregate cost of $277.0 million and fully utilized the November 2012 and August 2013 authorizations. As of July 6, 2014, there was $59.7 million remaining under the February 2014 authorization.

Repurchases of common stock included in our condensed consolidated statements of cash flows for the year-to-date period ended July 6, 2014 includes $7.3 million related to repurchase transactions traded in fiscal 2013 and settled in 2014.

Dividend—During the third quarter, the Board of Directors approved the initiation of a regular quarterly cash dividend. The initial cash dividend of $0.20 per share was paid on June 9, 2014 to shareholders of record as of May 27, 2014 and totaled $8.0 million.