Stockholder's Equity

3 Months Ended

Jan. 02, 2015

Stockholders' Equity Note [Abstract]

STOCKHOLDER'S EQUITY

    STOCKHOLDERS’ EQUITY

Stock Repurchase Program

On November 11, 2014, the Board of Directors approved a stock repurchase program, pursuant to which the Company is authorized to repurchase up to $300.0 million of the Company’s common stock from time to time on the open market or in privately negotiated transactions, as permitted by securities laws and other legal requirements. During the three months ended January 2, 2015, the Company paid $31.0 million (including commissions) in connection with the repurchase of 0.5 million shares of its common stock (paying an average price of $62.02 per share). As of January 2, 2015, $269.0 million remained available under the existing stock repurchase authorization.

Dividends

On January 22, 2015, the Company announced that the Board of Directors had declared a cash dividend on its common stock of $0.13 per share, payable on March 3, 2015, to the Company’s stockholders of record as of the close of business on February 5, 2015. During the three months ended January 2, 2015, the Company declared and paid a $0.13 dividend per common share with a total charge to retained earnings of $24.7 million.