Quarterly report pursuant to Section 13 or 15(d)

Share Repurchase Program

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Share Repurchase Program
 6 Months Ended
Jun. 29, 2024
Equity [Abstract]  
Share Repurchase Program Share Repurchase Program
On February 28, 2024, the Company announced that the Board of Directors authorized a share repurchase program, pursuant to which the Company is authorized to purchase up to $100 million of its common stock. The repurchase authorization does not have an expiration date and may be terminated by the Company’s Board of Directors at any time. As of June 29, 2024, $74.9 is remaining under the share repurchase program. There was no repurchase program in place in the three and six month periods ended July 1, 2023.

The Inflation Reduction Act of 2022 imposes a 1% excise tax on share repurchases in excess of issuances, which is effective for Janus for 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 three and six month periods ended June 29, 2024:

 (in millions, except share and per share data)
 Three Months Ended Six Months Ended
June 29, 2024 June 29, 2024
Number of shares repurchased 753,667 1,773,556
Share repurchase cost (including excise taxes) $ 10.1  $ 25.4