XML 69 R17.htm IDEA: XBRL DOCUMENT v2.4.1.9
CAPITAL STRUCTURE
12 Months Ended
Dec. 28, 2014
Text Block [Abstract]  
CAPITAL STRUCTURE
(10) CAPITAL STRUCTURE

The Company has a Board of Directors-approved open market share repurchase program of the Company’s common stock, which was reset during the first quarter of 2014 at $200.0 million. The open market share repurchase program has historically been funded by excess cash flow. During 2014, 2013 and 2012 the Company repurchased 1,151,931 shares, 1,666,435 shares and 2,472,863 shares of common stock for approximately $82.4 million, $97.1 million and $88.2 million, respectively. At December 28, 2014, the Company had approximately $132.7 million remaining under the $200.0 million authorization. The Company’s policy is to recognize the difference between the purchase price and par value of the common stock in additional paid-in capital. In instances where there is no additional paid-in capital, the difference is recognized in retained deficit.

As of December 28, 2014, authorized common stock consists of 160,000,000 voting shares and 10,000,000 non-voting shares. The share components of outstanding common stock at December 28, 2014 and December 29, 2013 are as follows:

 

     2014      2013  

Voting

     55,535,395         55,750,918   

Non-Voting

     17,754         17,754   
  

 

 

    

 

 

 

Total Common Stock

     55,553,149         55,768,672