Quarterly report pursuant to Section 13 or 15(d)

Employee Equity Incentive Plans (Tables)

v2.4.0.8
Employee Equity Incentive Plans (Tables)
 6 Months Ended
Jun. 28, 2014
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:
 
 
Three Months Ended
 
Six Months Ended
 
 
Jun 28,
2014
 
Jun 29,
2013
 
Jun 28,
2014
 
Jun 29,
2013
Estimated values
 
$
24.81

 
$
21.43

 
$
24.91

 
$
21.44

Risk-free interest rate
 
0.5
%
 
0.2
%
 
0.5
%
 
0.2
%
Dividend yield
 
3.4
%
 
3.8
%
 
3.4
%
 
3.8
%
Volatility
 
22
%
 
23
%
 
23
%
 
25
%
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
 
 
Three Months Ended
 
Six Months Ended
 
Six Months Ended
 
 
Jun 28,
2014
 
Jun 29,
2013
 
Jun 28,
2014
 
Jun 29,
2013
 
Jun 28,
2014
 
Jun 29,
2013
Estimated values
 
$
3.63

 
$
3.23

 
$
3.61

 
$
3.11

 
$
4.94

 
$
4.26

Expected life (in years)
 
4.7

 
5.2

 
5.1

 
5.2

 
0.5

 
0.5

Risk-free interest rate
 
1.6
%
 
0.8
%
 
1.7
%
 
0.8
%
 
0.1
%
 
0.1
%
Dividend yield
 
3.4
%
 
3.8
%
 
3.6
%
 
3.9
%
 
3.7
%
 
4.3
%
Volatility
 
22
%
 
25
%
 
23
%
 
25
%
 
21
%
 
22
%
Schedule of Share-based Compensation, Restricted Stock Units Award Activity [Table Text Block]
Information with respect to outstanding restricted stock unit (RSU) activity in the first six months of 2014 was as follows: 
 
 
Number of
RSUs
(In Millions)
 
Weighted Average
Grant-Date
Fair Value
December 28, 2013
 
113.3

 
$
22.47

Granted
 
52.6

 
$
24.91

Vested
 
(39.2
)
 
$
22.33

Forfeited
 
(5.4
)
 
$
22.68

June 28, 2014
 
121.3

 
$
23.56

Schedule of Stock Options Roll Forward [Table Text Block]
Information with respect to outstanding stock option activity in the first six months of 2014 was as follows:
 
 
Number of
Options
(In Millions)
 
Weighted Average
Exercise Price
December 28, 2013
 
153.0

 
$
21.10

Granted
 
0.6

 
$
25.34

Exercised
 
(40.3
)
 
$
19.64

Cancelled and forfeited
 
(2.2
)
 
$
23.64

Expired
 
(9.8
)
 
$
27.04

June 28, 2014
 
101.3

 
$
21.08

Options exercisable as of:
 
 
 
 
December 28, 2013
 
111.5

 
$
20.25

June 28, 2014
 
77.1

 
$
20.24