Annual report pursuant to Section 13 and 15(d)

Employee Equity Incentive Plans (Tables)

v2.4.0.6
Employee Equity Incentive Plans (Tables)
 12 Months Ended
Dec. 31, 2011
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 values 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, as follows:

  2011     2010     2009  
Estimated values $ 19.86     $ 22.56     $ 14.63  
Risk-free interest rate   0.7 %     1.1 %     0.9 %
Dividend yield   3.4 %     2.6 %     3.5 %
Volatility   27 %     31 %     46 %
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 values of employee stock option grants (excluding stock option grants in connection with the Option Exchange in 2009) and rights granted under the stock purchase plan, as well as the weighted average assumptions used in calculating these values, on estimates at the date of grant, as follows:

  Stock Options   Stock Purchase Plan
  2011     2010     2009     2011     2010     2009  
Estimated values $ 3.91     $ 4.82     $ 4.72     $ 4.69     $ 4.71     $ 4.14  
Expected life (in years)   5.4       4.9       4.9       0.5       0.5       0.5  
Risk-free interest rate   2.2 %     2.5 %     1.8 %     0.2 %     0.2 %     0.4 %
Volatility   27 %     28 %     46 %     26 %     32 %     44 %
Dividend yield   3.4 %     2.7 %     3.6 %     3.6 %     3.1 %     3.6 %
Schedule of Share-based Compensation, Restricted Stock Units Award Activity [Table Text Block]

Information with respect to outstanding restricted stock unit (RSU) activity is as follows:

      Weighted
      Average
  Number of   Grant-Date
(In Millions, Except Per RSU Amounts) RSUs   Fair Value
December 27, 2008 67.3   $ 20.18
Granted 60.0   $ 14.63
Assumed in acquisition 1.6   $ 17.52
Vested (20.1)   $ 20.24
Forfeited (3.4)   $ 18.19
December 26, 2009 105.4   $ 17.03
Granted 32.4   $ 22.56
Vested (34.6)   $ 17.70
Forfeited (3.4)   $ 17.98
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
Expected to vest as of December 31, 2011 101.0   $ 19.16
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, 2011, options outstanding that have vested and are expected to vest are as follows:

            Weighted Average      
  Number of   Weighted   Remaining   Aggregate
  Options   Average   Contractual Term   Intrinsic Value
  (In Millions)   Exercise Price   (In Years)   (In Millions)
Vested 203.6   $ 20.44   2.2   $ 835
Expected to vest 89.5   $ 19.40   5.0   $ 434
Total 293.1   $ 20.12   3.1   $ 1,269
Stock Options Activity [Table Text Block]

Additional information with respect to stock option activity is as follows:

        Weighted
    Number of   Average
(In Millions, Except Per Option Amounts) Options   Exercise Price
December 27, 2008 612.0   $ 27.70
Grants 118.5   $ 18.01
Assumed in acquisition 9.0   $ 15.42
Exercises (3.6)   $ 15.90
Cancellations and forfeitures (29.6)   $ 28.16
Exchanged (217.4)   $ 26.75
Expirations (37.6)   $ 31.92
December 26, 2009 451.3   $ 25.08
Grants 20.2   $ 23.25
Exercises (16.6)   $ 18.36
Cancellations and forfeitures (16.1)   $ 24.76
Expirations (52.4)   $ 60.68
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
           
Options exercisable as of:        
  December 26, 2009 297.7   $ 28.44
  December 25, 2010 263.0   $ 21.03
  December 31, 2011 203.6   $ 20.44
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 31, 2011:

  Outstanding Options   Exercisable Options
      Weighted Average                
  Number of   Remaining   Weighted   Number of   Weighted
  Shares   Contractual Life   Average   Shares   Average
Range of Exercise Prices (In Millions)   (In Years)   Exercise Price   (In Millions)   Exercise Price
$1.12–$15.00 4.9   4.7   $ 11.78   3.1   $ 11.52
$15.01–$20.00 156.9   3.6   $ 18.24   97.8   $ 18.37
$20.01–$25.00 119.3   2.5   $ 21.84   85.8   $ 21.68
$25.01–$30.00 15.7   1.8   $ 27.47   15.6   $ 27.47
$30.01–$35.46 1.5   0.9   $ 31.23   1.3   $ 31.16
Total 298.3   3.1   $ 20.12   203.6   $ 20.44