Share Repurchases

6 Months Ended

Jun. 29, 2014

Equity [Abstract]

Share Repurchases

Note 12:  Share Repurchases

In July 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 November 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. This program is funded by cash on hand and cash flows from operating activities. The program does not have an expiration date and may be suspended at any time at the discretion of the Company.

During both the three and six months ended June 29, 2014, we repurchased 0.4 million shares of our common stock under the share repurchase program for an aggregate cost of $31.2 million and an average price per share of $73.50. From inception of the program to June 29, 2014, we have repurchased 5.8 million shares of our common stock under the program for an aggregate cost of $249.9 million and an average price of $42.77.