CAPITAL STOCK

9 Months Ended

Oct. 02, 2021

Equity [Abstract]

CAPITAL STOCK

CAPITAL STOCK

On October 27, 2006, our Board of Directors approved a three-year, $1,000 open-market 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 open-market 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 three and nine months ended October 2, 2021, we repurchased and retired 0.5 and 1.1 shares of common stock for $50.0 and $100.0, respectively. During the nine months ended September 26, 2020, we repurchased and retired 1.7 shares of common stock for $73.2. There were no open-market share repurchases in the third quarter of 2020.

Separate from the open-market share repurchase program, the Company repurchases shares of common stock in settlement of employee tax withholding obligations due upon the vesting of equity-based compensation awards. During the three and nine months ended October 2, 2021, the Company repurchased 0.1 and 0.2 shares of common stock for $0.3 and $11.7, respectively. During the three and nine months ended September 26, 2020, the Company repurchased a nominal number of shares and 0.2 shares of common stock for $0.2 and $10.7, respectively.