CAPITAL STOCK

9 Months Ended

Sep. 30, 2023

Equity [Abstract]

CAPITAL STOCK

CAPITAL STOCK

On October 30, 2019, the Board of Directors approved an indefinite term $500 open-market share repurchase program (the 2019 Plan). There were no open-market share repurchases during the three months ended September 30, 2023. During the nine months ended September 30, 2023, the Company repurchased and retired 0.7 shares of common stock for $60.5. During the three and nine months ended October 1, 2022, the Company repurchased and retired 0.1 and 3.0 shares of common stock for $4.4 and $245.3, respectively.

On October 4, 2023, the Board of Directors approved an indefinite term $1,000 open-market share repurchase program (the 2023 Plan). Repurchases under this authorization will begin upon the completion of the 2019 Plan. As of September 30, 2023, there was $78.8 of remaining authorization left under the 2019 Plan.

Separate from the open-market share repurchase program, the Company withholds 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 September 30, 2023, the Company withheld a nominal amount and 0.1 shares of common stock for $0.3 and $6.7, respectively. During the three and nine months ended October 1, 2022, the Company withheld a nominal amount and 0.1 shares of common stock for $0.2 and $8.7, respectively.