Stockholder's Equity

6 Months Ended

Apr. 01, 2016

Stockholders' Equity Note [Abstract]

STOCKHOLDERS' EQUITY

STOCKHOLDERS’ EQUITY

Stock Repurchase Program

On November 10, 2015, the Board of Directors approved a stock repurchase program, pursuant to which the Company is authorized to repurchase up to $400.0 million of its 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 and six months ended April 1, 2016, the Company paid $135.1 million (including commissions) in connection with the repurchase of 2.0 million shares of its common stock (paying an average price of $67.55 per share). As of April 1, 2016, $264.9 million remained available under the existing stock repurchase authorization.

Dividends

On April 28, 2016, the Company announced that the Board of Directors had declared a cash dividend on its common stock of $0.26 per share, payable on June 2, 2016, to the Company’s stockholders of record as of the close of business on May 12, 2016. During the three and six months ended April 1, 2016, dividends charged to retained earnings were as follows (in millions, except per share data):

	Per share		Total
First quarter	$	0.26	$	49.8
Second quarter	0.26		49.3
Total	$	0.52	$	99.1

Share-based Compensation

The following table summarizes the share-based compensation expense by line item in the Statement of Operations (in millions):

	Three Months Ended				Six Months Ended
	April 1, 2016		April 3, 2015		April 1, 2016		April 3, 2015
Cost of sales	$	3.2	$	3.8	$	7.2	$	7.0
Research and development	6.7		12.4		16.2		22.2
Selling, general and administrative	7.2		10.5		17.0		19.2
Total share-based compensation	$	17.1	$	26.7	$	40.4	$	48.4