Shareholders' Equity

12 Months Ended

Dec. 27, 2013

Stockholders' Equity Note [Abstract]

Shareholders' Equity

Shareholders’ Equity

Our shareholders have authorized 50,000,000 preferred shares at $0.01 par value, of which none are issued or outstanding. Our shareholders have authorized 200,000,000 ordinary shares of common stock at $0.01 par value, of which 56,218,437 are issued and outstanding at December 27, 2013.

The ordinary share activity for the years ended December 27, 2013 and December 28, 2012 is summarized as follows:

	Year Ended
	December 27, 2013		December 28, 2012
Ordinary shares issued/(retired) as a result of:
Stock option exercises	1,975,339		475,918
Restricted share grants	26,201		27,573
Ordinary share repurchase and retirement	(3,490,488	)	(560,560	)

On July 31, 2009, our Board of Directors approved a three-year stock repurchase program of up to $150 million of our ordinary shares, which expired on July 31, 2012. On May 5, 2010, our Board of Directors approved an additional three-year stock repurchase program of up to $150 million of our ordinary shares, which expired on May 5, 2013. On May 1, 2013, our Board of Directors approved a three-year stock repurchase program of up to $300 million of our ordinary shares.

The following represents a summary of repurchase activity during the years ended December 27, 2013 and December 28, 2012 (U.S. dollars in millions, except share and per share data):

	Year Ended
	December 27, 2013					December 28, 2012
	Shares	USD		Average price per share		Shares	USD		Average price per share
Quarter ended:	27,982	$	0.7	$	26.43	560,560	$	14.4	$	25.56
Year ended:	3,490,488	94.0		26.90		560,560	14.4		25.56

We account for treasury stock using the cost method. We repurchased and retired 11,265,385 ordinary shares, for an aggregate price of $266.2 million under the aforementioned stock repurchase programs approved by the Board of Directors. We have $258.0 million of shares that may yet be purchased under the stock repurchase program.

The following is a summary of the dividends declared per share for the years ended December 27, 2013 and December 28, 2012:

Year Ended
December 27, 2013			December 28, 2012
Dividend Declared Date	Cash Dividend Declared, per Ordinary Share		Dividend Declared Date	Cash Dividend Declared, per Ordinary Share
December 6, 2013	$	0.125	October 31, 2012	$	0.10
September 6, 2013	$	0.125	August 1, 2012	$	0.10
May 31, 2013	$	0.125	May 2, 2012	$	0.10
March 29, 2013	$	0.125	February 29, 2012	$	0.10

On February 20, 2013, our Board of Directors increased the interim cash dividend from $0.10 to $0.125 per ordinary share. We paid $28.2 million and $23.2 million in dividends during the years ended December 27, 2013 and December 28, 2012, respectively.