Garmin 2009 Annual Report Download - page 109

91

December26, December27, December29,
2009 2008 2007
Balance‐beginningofperiod $87,408 $71,636 $37,639
Accrualforproductssoldduringtheperiod 164,909 132,644 98,702
Expenditures (164,893) (116,872) (64,705)
Balance‐endofperiod $87,424 $87,408 $71,636
FiscalYearEnded


15.SubsequentEvents

OnFebruary12,2010,theBoardofDirectorsapprovedasharerepurchaseprogramauthorizingthe
Companytorepurchaseupto$300millionofthecommonsharesofGarminLtd.Therepurchasesmaybemade
fromtimetotimeasmarketandbusinessconditionswarrantontheopenmarketorinnegotiatedtransactionsin
compliancewiththeSEC’sRule10b‐18.Thetimingandamountsofanyrepurchaseswillbedeterminedbythe
Company’smanagementdependingonmarketconditionsandotherfactorsincludingprice,regulatory
requirementsandcapitalavailability.Theprogramdoesnotrequirethepurchaseofanyminimumnumberof
sharesandmaybesuspendedordiscontinuedatanytime.Thesharerepurchaseauthorizationexpireson
December31,2010.

TheCompanyevaluatedsubsequenteventsthroughthetimeoffilingthisAnnualReportonForm10‐Kon
February24,2010.



Item9.ChangesinandDisagreementswithAccountantsonAccountingandFinancialDisclosure

None.

