Quarterly report [Sections 13 or 15(d)]

Share Repurchase Program

v3.25.2
Share Repurchase Program
 6 Months Ended
Jun. 28, 2025
Equity [Abstract]  
Share Repurchase Program Share Repurchase Program
On February 28, 2024, the Board of Directors authorized a share repurchase program, pursuant to which we were authorized to purchase up to $100.0 of our common stock. On May 15, 2025, the Board of Directors authorized an incremental increase of $75.0 to our share repurchase program. The repurchase authorization does not have an expiration date and may be terminated by the Board of Directors at any time. As of June 28, 2025, there is $81.3 remaining under the share repurchase program.
The Inflation Reduction Act of 2022 imposes a 1% excise tax on share repurchases in excess of issuances, which is effective for share repurchases completed after December 31, 2022. We reflect the excise tax within equity as part of the repurchase of the common stock.
The following table presents the share repurchase activity for the periods presented:
(amounts in millions, except share data) Three Months Ended Six Months Ended
June 28, 2025 June 29, 2024 June 28, 2025 June 29, 2024
Number of shares repurchased 1,221,672  753,667  1,843,315  1,773,556 
Share repurchase cost (including excise taxes) $ 10.1  $ 10.1  $ 15.2  $ 25.4