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Share Repurchases
9 Months Ended
Sep. 29, 2013
Equity [Abstract]  
Share Repurchases

Note 13: Share Repurchases

In 2011, our Board of Directors authorized a share repurchase program, which allows us to purchase up to $150.0 million of our common stock through open market repurchases, negotiated transactions, or other means, in accordance with applicable securities laws and other restrictions. In 2012, our Board of Directors authorized an extension of the share repurchase program, which allows us to purchase up to an additional $200.0 million of our common stock. The program does not have an expiration date and may be suspended at any time at the discretion of the Company. This program is funded by cash on hand and cash flows from operating activities.

During the three months ended September 29, 2013, we entered into a prepaid variable share repurchase agreement for $31.25 million. Under this agreement, we repurchased 0.3 million shares as of September 29, 2013 and an additional 0.3 million shares subsequent to the end of our fiscal third quarter on September 30, 2013, for a total of 0.5 million shares repurchased at an average price per share of $60.71. Our treasury stock balance as of September 29, 2013 includes a receivable of $15.9 million for the amount of the shares repurchased subsequent to the end of our fiscal third quarter. In 2013, we repurchased 1.7 million shares of our common stock under the program through prepaid variable share repurchase agreements for an aggregate cost of $93.8 million and an average price per share of $54.76. From inception of the program through September 30, 2013, we have repurchased 5.4 million shares of our common stock under the programs for an aggregate cost of $218.8 million and an average price of $40.37.