Shareholders' equity

12 Months Ended

Jun. 29, 2019

5. Shareholders’ equity

Accumulated comprehensive (loss) income

The following table includes the balances within accumulated other comprehensive loss:


	June 29,		June 30,		July 1,
	2019		2018		2017
	(Thousands)
Accumulated translation adjustments and other	$	(142,469)	$	(78,848)	$	(86,647)
Accumulated pension liability adjustments, net of income taxes		(161,570)		(116,503)		(157,219)
Total accumulated other comprehensive loss	$	(304,039)	$	(195,351)	$	(243,866)

Amounts reclassified out of accumulated comprehensive loss, net of tax, to operating expenses and discontinued operations during fiscal 2019, 2018 and 2017 substantially all related to net periodic pension costs as discussed further in Note 11 and cumulative translation adjustment from the sale of the TS business discussed further in Note 3.

Share repurchase program

In August 2018, the Company’s Board of Directors amended the Company’s existing share repurchase program to authorize the repurchase of up to $2.45 billion of common stock in the open market or through privately negotiated transactions. The timing and actual number of shares repurchased will depend on a variety of factors such as share price, corporate and regulatory requirements, and prevailing market conditions. During fiscal 2019, the Company repurchased 12.9 million shares under this program at an average market price of $43.86 per share for a total cost of $566.7 million. Repurchased shares were retired. Since the beginning of the repurchase program through the end of fiscal 2019, the Company has repurchased 58.8 million shares at an aggregate cost of $2.24 billion, and $205.4 million remains available for future repurchases under the share repurchase program.

Common stock dividend

During fiscal 2019, the Company paid dividends of $0.80 per common share and $87.2 million in total.