Treasury Stock

12 Months Ended

Dec. 28, 2019

Treasury Stock Transactions, Excluding Value of Shares Reissued [Abstract]

Treasury Stock:

The Company’s Board of Directors has authorized common stock repurchases under a share repurchase program. As of December 29, 2018, the Company had remaining authorization under the share repurchase program of $520.0 million. On May 8, 2019, the Board of Directors authorized a $1.5 billion increase to the existing share repurchase program, bringing the total amount authorized since the inception of the program up to $4.5 billion, exclusive of any fees, commissions or other expenses related to such repurchases. The repurchases may be made from time to time on the open market or in privately negotiated transactions. The timing and amount of any shares repurchased under the program will depend on a variety of factors, including price, corporate and regulatory requirements, capital availability and other market conditions. Repurchased shares are accounted for at cost and will be held in treasury for future issuance. The program may be limited or terminated at any time without prior notice. As of December 28, 2019, the Company had remaining authorization under the share repurchase program of $1.49 billion, exclusive of any fees, commissions or other expenses.

The following table provides the number of shares repurchased, average price paid per share, and total amount paid for share repurchases in fiscal 2019, 2018, and 2017, respectively (in thousands, except per share amounts):


	Fiscal Year
	2019		2018		2017
Total number of shares repurchased	5,384		4,987		5,924
Average price paid per share	$	99.05	$	70.14	$	62.35
Total cash paid for share repurchases	$	533,319	$	349,776	$	369,403