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Stockholders' Equity
6 Months Ended
Mar. 30, 2013
Stockholders' Equity  
Stockholders' Equity

13.       Stockholders’ Equity

 

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 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.

 

The following table summarizes the shares acquired under the program:

 

 

 

Twenty-six weeks ended

 

 

 

 

 

 

 

March 30, 2013

 

Fiscal 2012

 

Total

 

Number of shares acquired

 

4,864,593

 

3,120,700

 

7,985,293

 

Average price per share of acquired shares

 

$

25.84

 

$

24.50

 

$

25.32

 

Total cost of acquired shares (in thousands)

 

$

125,681

 

$

76,470

 

$

202,151

 

 

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) for the twenty-six weeks ended March 30, 2013:

 

 

 

Cash Flow Hedges

 

Translation

 

Accumulated Other
Comprehensive Income
(Loss)

 

Balance at September 29, 2012

 

$

(5,792

)

$

15,992

 

$

10,200

 

Current period other comprehensive income (loss)

 

865

 

(20,844

)

(19,979

)

Balance at March 30, 2013

 

$

(4,927

)

$

(4,852

)

$

(9,779

)

 

The unfavorable translation adjustment change during the twenty-six weeks ended March 30, 2013 was primarily due to the weakening of the Canadian dollar against the U.S. dollar.  See also Note 10, Derivative Financial Instruments.