Stockholder's Equity

3 Months Ended

Dec. 30, 2016

Stockholders' Equity Note [Abstract]

STOCKHOLDERS' EQUITY

STOCKHOLDERS’ EQUITY

Share Repurchase Program

On July 19, 2016, the Board of Directors approved a share 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 months ended December 30, 2016, the Company paid $106.5 million (including commissions) in connection with the repurchase of 1.4 million shares of its common stock (paying an average price of $76.05 per share). As of December 30, 2016, $94.9 million remained available under the existing share repurchase authorization.

On January 17, 2017, the Board of Directors approved a new share repurchase program, pursuant to which the Company is authorized to repurchase up to $500.0 million of its common stock from time to time prior to January 17, 2019, on the open market or in privately negotiated transactions, as permitted by securities laws and other legal requirements. This newly authorized share repurchase plan replaces in its entirety the aforementioned July 19, 2016, plan.

Dividends

On January 19, 2017, the Company announced that the Board of Directors had declared a cash dividend on its common stock of $0.28 per share, payable on February 23, 2017, to the Company’s stockholders of record as of the close of business on February 2, 2017. During the three months ended December 30, 2016, the Company declared and paid a $0.28 dividend per common share with a total charge to retained earnings of $51.8 million.

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
	December 30, 2016		January 1, 2016
Cost of sales	$	3.8	$	4.0
Research and development	8.3		9.6
Selling, general and administrative	9.5		9.7
Total share-based compensation	$	21.6	$	23.3