Quarterly report [Sections 13 or 15(d)]

Share Repurchase Program

v3.26.3
Share Repurchase Program
 9 Months Ended
Oct. 03, 2026
Equity [Abstract]  
Share Repurchase Program
16. Share Repurchase Program

During 2024, our Board of Directors authorized a share repurchase program, pursuant to which we were authorized to purchase up to $100.0 of our common stock. During 2025, our Board of Directors authorized an increase of $75.0 to our share repurchase program. The repurchase authorization does not have an expiration date and may be terminated by our Board of Directors at any time. As of October 3, 2026, there is $38.1 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:

Three Months Ended Nine Months Ended
(amounts in millions, except share data) October 3, 2026 September 27, 2025 October 3, 2026 September 27, 2025
Number of shares repurchased 4,977,659 81,927 8,207,435 1,925,242
Share repurchase cost (including excise taxes) $ 25.3  $ 0.8  $ 42.9  $ 16.0