Equity

12 Months Ended

Dec. 29, 2012

Equity [Abstract]

Equity

Note 6 –Equity

The Company's Board of Directors has extended, until October 2013, its authorization to repurchase up to ten million shares of the Company's common stock through open market transactions or through privately negotiated transactions.  The Company has no obligation to purchase any shares and may cancel, suspend, or extend the time period for the purchase of shares at any time.  Any purchases will be funded primarily through existing cash and cash from operations.  The Company may hold any shares purchased in treasury or use a portion of the repurchased shares for its stock-based compensation plans, as well as for other corporate purposes.  From its initial authorization in 1999 through December 29, 2012, the Company had repurchased approximately 2.4 million shares under this authorization.

The Company entered into an agreement with Leucadia pursuant to which the Company repurchased from Leucadia 10.4 million shares of the Company's common stock on September 24, 2012 at a total cost of $427.3 million. The Company's repurchase transaction with Leucadia was completed outside of the repurchase authorization previously approved by the Board of Directors.

Components of accumulated other comprehensive loss are as follows:

(In thousands)	2012			2011
Cumulative foreign currency translation adjustment	$	(3,032	)	$	(10,396	)
Unrecognized prior service cost, net of income tax		(13	)		(13	)
Unrecognized actuarial net loss, net of income tax		(39,514	)		(38,667	)
Unrecognized derivative gains, net of income tax		(167	)		(422	)
Unrealized gain on marketable securities, net of income tax		103			89
Accumulated other comprehensive loss	$	(42,623	)	$	(49,409	)

The change in cumulative foreign currency translation adjustment primarily relates to the Company's investment in foreign subsidiaries and fluctuations in exchange rates between their local currencies and the U.S. dollar.  During 2012, the value of the Mexican peso and the British pound increased approximately 7.6 percent and 3.9 percent relative to the U.S. dollar, respectively.