CAPITAL STOCK

6 Months Ended

Jul. 03, 2021

Equity [Abstract]

CAPITAL STOCK

CAPITAL STOCK

On October 27, 2006, our Board of Directors approved a three-year, $1,000 share repurchase program (the 2006 Plan), which it modified in 2008 to make the term indefinite. On October 30, 2019, the Board of Directors approved a new indefinite term $500 share repurchase program (the 2019 Plan). During the first quarter of 2020, we completed the 2006 Plan and commenced repurchases under the 2019 Plan. During the six months ended July 3, 2021 and June 27, 2020, we repurchased and retired 0.6 and 1.7 shares of common stock for $50.0 and $73.2, respectively, under these programs, including 1.4 shares and $61.9 in 2020, which fully exhausted the 2006 Plan.

Separate from the share repurchase program, the Company repurchased 0.1 and 0.2 shares during the six months ended July 3, 2021 and June 27, 2020, respectively, for an aggregate amount of $11.4 and $10.5, respectively, in settlement of employee tax withholding obligations due upon the vesting of RSUs and PSUs.