Stockholder's Equity

9 Months Ended

Jul. 03, 2015

Stockholders' Equity Note [Abstract]

STOCKHOLDERS' 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 July 3, 2015, the Company paid $47.2 million (including commissions) in connection with the repurchase of 0.5 million shares of its common stock (paying an average price of $94.34 per share). During the nine months endedJuly 3, 2015, the Company paid $126.3 million (including commissions) in connection with the repurchase of 1.6 million shares of its common stock (paying an average price of $78.91 per share). As of July 3, 2015, $173.7 million remained available under the existing stock repurchase authorization.

Dividends

On June 18, 2015, the Company announced that the Board of Directors had declared a cash dividend on its common stock of $0.26 per share, payable on August 27, 2015, to the Company’s stockholders of record as of the close of business on August 6, 2015. During the three and nine months ended July 3, 2015, dividends charged to retained earnings were as follows (in millions, except per share data):

	Per share		Total
First quarter	$	0.13	$	24.7
Second quarter	0.13		24.9
Third quarter	0.13		24.8
Total	$	0.39	$	74.4