Stockholders' Equity

12 Months Ended

Sep. 28, 2013

Stockholders' Equity

Stockholders' Equity

14. Stockholders' Equity

Stock Issuances

        On May 11, 2011, the Company issued 9,479,544 shares of its common stock, par value $0.10 per share, at $71.00 per share, which included 1,290,000 shares purchased by the underwriters pursuant to an overallotment option. The Company also completed a concurrent private placement of 608,342 shares of its common stock to Luigi Lavazza S.p.A. ("Lavazza") at $68.34 per share, pursuant to the Common Stock Purchase Agreement entered into between the Company and Lavazza on May 6, 2011 in accordance with the September 28, 2010 agreement discussed below. The aggregate net proceeds to the Company from the public offering and concurrent private placement were approximately $688.9 million, net of underwriting discounts and commissions and offering expenses. The Company used the proceeds to repay a portion of the outstanding debt under its credit facility and for general corporate purposes.

        On September 28, 2010, the Company sold 8,566,649 shares of its common stock, par value $0.10 per share, to Lavazza for aggregate gross proceeds of $250.0 million. The sale was recorded to stockholders' equity net of transaction related expenses of approximately $0.5 million. The shares were sold pursuant to a Common Stock Purchase Agreement which contains a five-and-one-half-year standstill period, subject to certain exceptions, during which Lavazza is prohibited from increasing its ownership of Common Stock or making any proposals or announcements relating to extraordinary Company transactions. The standstill is subject to additional exceptions after a one-year period, including Lavazza's right to purchase additional shares up to 15% of the Company's outstanding shares.

Stock Repurchase Program

        On July 30, 2012, the Board of Directors authorized a program for the Company to repurchase up to $500.0 million of the Company's common shares over the next two years, at such times and prices as determined by the Company's management. Consistent with Delaware law, any repurchased shares are constructively retired and returned to an unissued status. Accordingly, the par value of repurchased shares is deducted from common stock and excess repurchase price over the par value is deducted from additional paid-in capital and from retained earnings if additional paid-in capital is depleted. As of September 28, 2013, $235.3 million remained available for shares to be repurchased under current authorization by our Board of Directors.

	Fiscal 2013		Fiscal 2012
Number of shares acquired		5,642,793		3,120,700
Average price per share of acquired shares	$	33.37	$	24.50
Total cost of acquired shares (in thousands)	$	188,278	$	76,470

        Subsequent to the fiscal year ended September 28, 2013, the Company repurchased an additional 1,348,883 of common shares, leaving $137.8 million available for shares to be repurchased under current authorization by the Company's Board of Directors.

Accumulated Other Comprehensive Income (Loss)

        The following table provides the changes in the components of accumulated other comprehensive income (loss), net of tax (in thousands):

	Cash Flow Hedges			Translation			Accumulated Other Comprehensive Income (Loss)
Balance at September 25, 2010	$	(1,630	)	$	—		$	(1,630	)
Other comprehensive loss during the period		(4,236	)		(8,709	)		(12,945	)
Balance at September 24, 2011		(5,866	)		(8,709	)		(14,575	)
Other comprehensive income during the period		74			24,701			24,775
Balance at September 29, 2012		(5,792	)		15,992			10,200
Other comprehensive loss during the period		(1,358	)		(28,027	)		(29,385	)
Balance at September 28, 2013	$	(7,150	)	$	(12,035	)	$	(19,185	)

        The unfavorable translation adjustment change during fiscal year 2013 and 2011 was primarily due to the weakening of the Canadian dollar against the U.S. dollar. The favorable translation adjustment change during fiscal year 2012 was primarily due to the strengthening of the Canadian against the U.S. dollar. See also Note 11, Derivative Financial Instruments.