Subsequent Event

6 Months Ended

Jun. 29, 2019

Subsequent Events [Abstract]

Subsequent Event

Subsequent Event

On July 26, 2019, the Company’s Board of Directors authorized a share repurchase program for up to an aggregate amount of $1 billion of its outstanding shares of common stock.  The new share repurchase program supersedes the Company’s prior share repurchase program, which was authorized in November 2011 and under which the Company had not repurchased any shares.  The new share repurchase program does not have a stated expiration date.  The level of the Company’s repurchases depends on

a number of factors, including its financial condition, capital requirements, cash flows, results of operations, future business prospects and other factors its management may deem relevant. The timing, volume and nature of repurchases are subject to market conditions, applicable securities laws and other factors and may be amended, suspended or discontinued at any time.