Quarterly report pursuant to Section 13 or 15(d)

Employee Equity Incentive Plans (Tables)

v3.5.0.2
Employee Equity Incentive Plans (Tables)
 9 Months Ended
Oct. 01, 2016
Employee Benefits and Share-based Compensation [Abstract]  
Restricted Stock Units Estimated Values And Weighted Average Assumptions [Table Text Block]
We estimate the fair value of RSU awards with time-based vesting using the value of our common stock on the date of grant, reduced by the present value of dividends expected to be paid on our shares of common stock prior to vesting. We estimate the fair value of market-based restricted stock units, referred to in our 2016 Proxy Statement as outperformance restricted stock units (OSUs), using a Monte Carlo simulation model on the date of grant. We based the weighted average estimated value of RSU grants, as well as the weighted average assumptions that we used in calculating the fair value, on estimates at the date of grant, for each period as follows:
 
 
Three Months Ended
 
Nine Months Ended
 
Oct 1,
2016
 
Sep 26,
2015
 
Oct 1,
2016
 
Sep 26,
2015
Estimated values
 
$
32.65

 
$
26.62

 
$
29.64

 
$
31.64

Risk-free interest rate
 
0.7
%
 
0.6
%
 
0.9
%
 
0.6
%
Dividend yield
 
3.0
%
 
3.4
%
 
3.3
%
 
2.9
%
Volatility
 
24
%
 
n/a

 
23
%
 
27
%
Schedule of Share-based Compensation, Restricted Stock Units Award Activity [Table Text Block]
Restricted stock unit activity in the first nine months of 2016 was as follows: 
 
 
Number of
RSUs
(In Millions)
 
Weighted Average
Grant-Date
Fair Value
December 26, 2015
 
107.4

 
$
26.93

Granted
 
51.1

 
$
29.64

Assumed in acquisition
 
7.3

 
$
33.79

Vested
 
(47.5
)
 
$
26.18

Forfeited
 
(9.5
)
 
$
28.09

October 1, 2016
 
108.8

 
$
28.89