Quarterly report pursuant to Section 13 or 15(d)

Employee Equity Incentive Plans (Tables)

v3.3.0.814
Employee Equity Incentive Plans (Tables)
9 Months Ended
Sep. 26, 2015
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 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 shares of 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 (no market-based restricted stock units were granted in the third quarter of 2015). 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:
 
 
Three Months Ended
 
Nine Months Ended
 
 
Sep 26,
2015
 
Sep 27,
2014
 
Sep 26,
2015
 
Sep 27,
2014
Estimated values
 
$
26.62

 
$
32.93

 
$
31.64

 
$
25.12

Risk-free interest rate
 
0.6
%
 
0.5
%
 
0.6
%
 
0.5
%
Dividend yield
 
3.4
%
 
2.6
%
 
2.9
%
 
3.4
%
Volatility
 
n/a

 
23
%
 
27
%
 
23
%
Schedule of Share-based Compensation, Restricted Stock Units Award Activity [Table Text Block]
Restricted stock unit activity in the first nine months of 2015 was as follows: 
 
 
Number of
RSUs
(In Millions)
 
Weighted Average
Grant-Date
Fair Value
December 27, 2014
 
119.4

 
$
23.89

Granted
 
41.4

 
$
31.64

Vested
 
(44.1
)
 
$
23.44

Forfeited
 
(6.1
)
 
$
25.40

September 26, 2015
 
110.6

 
$
26.89

Schedule of Stock Options Roll Forward [Table Text Block]
Stock option activity in the first nine months of 2015 was as follows:
 
 
Number of
Options
(In Millions)
 
Weighted Average
Exercise Price
December 27, 2014
 
77.3

 
$
21.30

Exercised
 
(13.4
)
 
$
20.58

Cancelled and forfeited
 
(1.0
)
 
$
23.27

Expired
 
(0.1
)
 
$
21.72

September 26, 2015
 
62.8

 
$
21.42

Options exercisable as of:
 
 
 
 
December 27, 2014
 
54.7

 
$
20.29

September 26, 2015
 
52.1

 
$
20.88