Stockholders' Deficit

4 Months Ended

Jan. 19, 2020

Stockholders' Equity Note [Abstract]

Stockholders' Deficit

STOCKHOLDERS’ DEFICIT

Summary of changes in stockholders’ deficit — A reconciliation of the beginning and ending amounts of stockholders’ deficit is presented below (in thousands):

	Sixteen Weeks Ended
	January 19, 2020		January 20, 2019
Balance at beginning of period	$	(737,584)	$	(591,699)
Shares issued under stock plans, including tax benefit	184		115
Share-based compensation	3,184		1,909
Dividends declared	(9,425)		(10,318)
Purchases of treasury stock	(153,550)		—
Net earnings	7,897		34,098
Other comprehensive income (loss), net of taxes	51,011		(4,071)
Cumulative-effect from a change in accounting principle	(2,870)		(37,330)
Balance at end of period	$	(841,153)	$	(607,296)

Repurchases of common stock — The Company repurchased 1.9 million shares of its common stock in the first quarter of fiscal 2020 at an average price of $81.41 per share for an aggregate cost of $153.5 million. As of January 19, 2020, this leaves approximately $122.2 million remaining under share repurchase programs authorized by the Board of Directors, consisting of $22.2 million that expires in November 2020 and $100.0 million that expires in November 2021.

Repurchases of common stock included in our condensed consolidated statement of cash flows for fiscal 2020 include $2.0 million related to repurchase transactions traded in the prior year but settled in 2020.

Dividends — During 2020, the Board of Directors declared a cash dividend of $0.40 per common share totaling $9.4 million. Future dividends are subject to approval by our Board of Directors.