Annual report pursuant to Section 13 and 15(d)

Employee Equity Incentive Plans (Tables)

v2.4.0.8
Employee Equity Incentive Plans (Tables)
12 Months Ended
Dec. 28, 2013
Employee Equity Incentive Plans (Tables) [Abstract]  
Restricted Stock Units Estimated Values And Weighted Average Assumptions [Table Text Block]
We estimate the fair value of restricted stock unit 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 common stock prior to vesting. We estimate the fair value of market-based restricted stock units using a Monte Carlo simulation model on the date of grant. We based the weighted average estimated value of restricted stock unit 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:
  
 
2013
 
2012
 
2011
Estimated values
 
$
21.45

 
$
25.32

 
$
19.86

Risk-free interest rate
 
0.2
%
 
0.3
%
 
0.7
%
Dividend yield
 
3.8
%
 
3.3
%
 
3.4
%
Volatility
 
25
%
 
26
%
 
27
%
Stock Options And Stock Purchase Plan Estimated Values And Weighted Average Assumptions [Table Text Block]
We use the Black-Scholes option pricing model to estimate the fair value of options granted under our equity incentive plans and rights to acquire stock granted under our stock purchase plan. We based the weighted average estimated value of employee stock option grants and rights granted under the stock purchase plan, as well as the weighted average assumptions used in calculating the fair value, on estimates at the date of grant, for each period as follows:
  
 
Stock Options
 
Stock Purchase Plan
  
 
2013
 
2012
 
2011
 
2013
 
2012
 
2011
Estimated values
 
$
3.11

 
$
4.22

 
$
3.91

 
$
4.52

 
$
5.47

 
$
4.69

Expected life (in years)
 
5.2

 
5.3

 
5.4

 
0.5

 
0.5

 
0.5

Risk-free interest rate
 
0.8
%
 
1.0
%
 
2.2
%
 
0.1
%
 
0.1
%
 
0.2
%
Dividend yield
 
3.9
%
 
3.3
%
 
3.4
%
 
4.0
%
 
3.3
%
 
3.6
%
Volatility
 
25
%
 
25
%
 
27
%
 
22
%
 
24
%
 
26
%
Schedule of Share-based Compensation, Restricted Stock Units Award Activity [Table Text Block]
Information with respect to outstanding RSU activity for each period was as follows:
 
 
Number of
RSUs
(In Millions)
 
Weighted
Average
Grant-Date
Fair Value
December 25, 2010
 
99.8

 
$
18.56

Granted
 
43.3

 
$
19.86

Assumed in acquisition
 
5.8

 
$
20.80

Vested
 
(37.5
)
 
$
18.60

Forfeited
 
(4.4
)
 
$
19.07

December 31, 2011
 
107.0

 
$
19.18

Granted
 
49.9

 
$
25.32

Vested
 
(43.2
)
 
$
18.88

Forfeited
 
(4.4
)
 
$
20.93

December 29, 2012
 
109.3

 
$
22.03

Granted
 
53.4

 
$
21.45

Vested
 
(44.5
)
 
$
20.21

Forfeited
 
(4.9
)
 
$
22.06

December 28, 2013
 
113.3

 
$
22.47

Expected to vest as of December 28, 2013
107.3

 
$
22.49

Schedule of Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding [Table Text Block]
As of December 28, 2013, 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
 
111.5

 
$
20.25

 
2.6
 
$
617

Expected to vest
 
39.6

 
$
23.40

 
5.4
 
$
101

Total
 
151.1

 
$
21.08

 
3.3
 
$
718

Schedule of Stock Options Roll Forward [Table Text Block]
Additional information with respect to stock option activity for each period was as follows:
 
 
Number of
Options
(In Millions)
 
Weighted
Average
Exercise
Price
December 25, 2010
 
386.4

 
$
20.45

Grants
 
14.7

 
$
21.49

Assumed in acquisition
 
12.0

 
$
15.80

Exercises
 
(86.3
)
 
$
20.06

Cancellations and forfeitures
 
(8.6
)
 
$
20.47

Expirations
 
(19.9
)
 
$
24.85

December 31, 2011
 
298.3

 
$
20.12

Grants
 
13.5

 
$
27.01

Exercises
 
(85.8
)
 
$
20.45

Cancellations and forfeitures
 
(3.9
)
 
$
21.17

Expirations
 
(19.3
)
 
$
22.45

December 29, 2012
 
202.8

 
$
20.20

Grants
 
20.1

 
$
22.99

Exercises
 
(65.0
)
 
$
18.76

Cancellations and forfeitures
 
(3.0
)
 
$
22.58

Expirations
 
(1.9
)
 
$
22.56

December 28, 2013
 
153.0

 
$
21.10

Options exercisable as of:
 
 
 
 
December 31, 2011
 
203.6

 
$
20.44

December 29, 2012
 
139.8

 
$
19.76

December 28, 2013
 
111.5

 
$
20.25

Schedule of Share-based Compensation, Shares Authorized under Stock Option Plans, by Exercise Price Range [Table Text Block]
The following table summarizes information about options outstanding as of December 28, 2013:
  
 
 
Outstanding Options
 
Exercisable Options
Range of Exercise Prices
 
Number of
Shares
(In Millions)
 
Weighted
Average
Remaining
Contractual
Life
(In Years)
 
Weighted
Average
Exercise
Price
 
Number of
Shares
(In Millions)
 
Weighted
Average
Exercise
Price
$
1.12

-
$
15.00

 
 
2.2

 
3.7
 
$
12.22

 
1.2

 
$
11.69

$
15.01

-
$
20.00

 
 
70.5

 
2.7
 
$
18.22

 
70.4

 
$
18.20

$
20.01

-
$
25.00

 
 
57.6

 
4.2
 
$
22.59

 
26.2

 
$
22.54

$
25.01

-
$
30.00

 
 
22.4

 
3.0
 
$
27.09

 
13.4

 
$
27.02

$
30.01

-
$
33.03

 
 
0.3

 
0.1
 
$
32.31

 
0.3

 
$
32.31

Total
 
 
 
 
153.0

 
3.3
 
$
21.10

 
111.5

 
$
20.25