Annual report pursuant to Section 13 and 15(d)

Employee Equity Incentive Plans (Tables)

v3.6.0.2
Employee Equity Incentive Plans (Tables)
 12 Months Ended
Dec. 31, 2016
Employee Benefits and Share-based Compensation [Abstract]  
Restricted Stock Units Estimated Values And Weighted Average Assumptions [Table Text Block]
We use the Black-Scholes option pricing model to estimate the fair value of rights to acquire shares of common stock granted under the 2006 Stock Purchase Plan on the date of the grant. We based the weighted average estimated value of RSU and OSU grants and rights granted under the 2006 Stock Purchase Plan on the weighted average assumptions for each period as follows:
 
 
RSUs and OSUs
 
Stock Purchase Plan
 
 
Dec 31,
2016
 
Dec 26,
2015
 
Dec 27,
2014
 
Dec 31,
2016
 
Dec 26,
2015
 
Dec 27,
2014
Estimated values
 
$
29.76

 
$
31.63

 
$
25.40

 
$
6.70

 
$
6.56

 
$
5.87

Risk-free interest rate
 
0.9
%
 
0.6
%
 
0.5
%
 
0.5
%
 
0.1
%
 
0.1
%
Dividend yield
 
3.3
%
 
2.9
%
 
3.3
%
 
3.2
%
 
3.1
%
 
3.2
%
Volatility
 
23
%
 
27
%
 
23
%
 
22
%
 
25
%
 
22
%
Expected life (in years)
 
n/a

 
n/a

 
n/a

 
0.5

 
0.5

 
0.5

Schedule of Share-based Payment Award, Employee Stock Purchase Plan, Valuation Assumptions [Table Text Block]
We use the Black-Scholes option pricing model to estimate the fair value of rights to acquire shares of common stock granted under the 2006 Stock Purchase Plan on the date of the grant. We based the weighted average estimated value of RSU and OSU grants and rights granted under the 2006 Stock Purchase Plan on the weighted average assumptions for each period as follows:
 
 
RSUs and OSUs
 
Stock Purchase Plan
 
 
Dec 31,
2016
 
Dec 26,
2015
 
Dec 27,
2014
 
Dec 31,
2016
 
Dec 26,
2015
 
Dec 27,
2014
Estimated values
 
$
29.76

 
$
31.63

 
$
25.40

 
$
6.70

 
$
6.56

 
$
5.87

Risk-free interest rate
 
0.9
%
 
0.6
%
 
0.5
%
 
0.5
%
 
0.1
%
 
0.1
%
Dividend yield
 
3.3
%
 
2.9
%
 
3.3
%
 
3.2
%
 
3.1
%
 
3.2
%
Volatility
 
23
%
 
27
%
 
23
%
 
22
%
 
25
%
 
22
%
Expected life (in years)
 
n/a

 
n/a

 
n/a

 
0.5

 
0.5

 
0.5

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

 
$
26.93

Granted
 
53.1

 
$
29.76

Assumed in acquisition
 
7.3

 
$
33.79

Vested
 
(50.0
)
 
$
26.29

Forfeited
 
(11.0
)
 
$
28.10

December 31, 2016
 
106.8

 
$
28.99

Expected to vest as of December 31, 2016
99.9

 
$
28.99

Schedule of Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding [Table Text Block]
As of December 31, 2016, options outstanding that have vested and are expected to vest were as follows:
 
 
Number of
Options
(In Millions)
 
Weighted
Average
Exercise
Price
 
Weighted
Average
Remaining
Contractual
Term
(In Years)
 
Aggregate
Intrinsic
Value
(In Millions)
Vested
 
16.6

 
$
23.81

 
2.1
 
$
207

Expected to vest
 
2.9

 
$
23.33

 
3.3
 
$
38

Total
 
19.5

 
$
23.74

 
2.3
 
$
245