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Equity-Based Compensation (Tables) | 3 Months Ended
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Apr. 04, 2015
Weighted-Average Assumptions Used for Grants of Stock Options and SARs | The following table shows the weighted-average assumptions used for grants of SARs as well as the fair value of the grants based on those assumptions:
|  | Three Months Ended |
|  | April 4, 2015 |  |  | March 29, 2014 |
Expected dividend yield |  |  | 0 | % |  |  | 0 | %
Forfeiture rate |  |  | 10.32 | % |  |  | 10.31 | %
Volatility |  |  | 34.92 | % |  |  | 32.00 | %
Risk free interest rate |  |  | 1.73 | % |  |  | 0.82 | %
Range of interest rates |  |  | 0.02% - 2.61 | % |  |  | 0.02% - 1.78 | %
Expected weighted-average life |  |  | 5.36 years |  |  |  | 5.42 years |
Fair value of SARs granted |  | $ | 70,234 |  |  | $ | 85,149 |
Weighted-average grant date fair value of SARs granted (per underlying share) |  | $ | 28.82 |  |  | $ | 65.75 |
Summary of Stock Option Activity | Stock option activity was as follows:
|  | Three Months Ended April 4, 2015 |  |  |  |  |  |  |
Options |  | Shares |  |  | Weighted-Average Exercise Price |  |  | Weighted-Average remaining contractual term |  |  | Aggregate Intrinsic Value |
Outstanding at beginning of year |  |  | 415,960 |  |  | $ | 40.19 |  |  |  |  |  |  |  |  |
Exercised |  |  | (133,981 | ) |  |  | 44.36 |  |  |  |  |  |  |  |  |
Expired |  |  | (1,550 | ) |  |  | 51.62 |  |  |  |  |  |  |  |  |
Outstanding at end of period |  |  | 280,429 |  |  | $ | 38.13 |  |  |  | 2.5 Years |  |  | $ | 13.6 million |
Exercisable at end of period |  |  | 280,429 |  |  | $ | 38.13 |  |  |  | 2.5 Years |  |  | $ | 13.6 million |
Intrinsic value of exercised options |  | $ | 5,709,000 |  |  |  |  |  |  |  |  |  |  |  |  |
Summary of SARs Activity | SARs activity was as follows:
|  | Three Months Ended April 4, 2015 |  |  |  |  |  |  |
SARs |  | Shares |  |  | Weighted-Average Exercise Price |  |  | Weighted-Average remaining contractual term |  |  | Aggregate Intrinsic Value |
Outstanding at beginning of year |  |  | 1,292,142 |  |  | $ | 42.20 |  |  |  |  |  |  |  |  |
Granted |  |  | 2,437 |  |  |  | 85.82 |  |  |  |  |  |  |  |  |
Exercised |  |  | (32,159 | ) |  |  | 34.34 |  |  |  |  |  |  |  |  |
Forfeited |  |  | (3,569 | ) |  |  | 50.62 |  |  |  |  |  |  |  |  |
Outstanding at end of period |  |  | 1,258,851 |  |  | $ | 42.46 |  |  |  | 6.8 years |  |  | $ | 55.6 million |
Exercisable at end of period |  |  | 556,517 |  |  | $ | 32.99 |  |  |  | 5.8 years |  |  | $ | 29.9 million |
Intrinsic value of exercised SARs |  | $ | 1,688,000 |  |  |  |  |  |  |  |  |  |  |  |  |
Summary of Restricted Stock Award Activity | Restricted stock award activity was as follows:
|  | Three Months Ended April 4, 2015 |
Restricted Stock Awards |  | Shares |  |  | Weighted-Average Grant Date Fair Value |
Outstanding at beginning of year |  |  | 691,621 |  |  | $ | 60.06 |
Granted |  |  | 2,053 |  |  |  | 85.82 |
Released |  |  | (4,239 | ) |  |  | 42.56 |
Forfeited |  |  | (12,437 | ) |  |  | 71.82 |
Outstanding at end of period |  |  | 676,998 |  |  | $ | 60.06 |
Summary of Performance Share Award Activity | Performance share award activity was as follows:
|  | Three Months Ended April 4, 2015 |
Performance Share Awards |  | Shares |  |  | Weighted-Average Grant Date Fair Value |
Outstanding at beginning of year |  |  | 374,180 |  |  | $ | 61.53 |
Released |  |  | 1,703 |  |  |  | 85.82 |
Forfeited |  |  | (3,530 | ) |  |  | 73.07 |
Outstanding at end of period |  |  | 372,353 |  |  | $ | 61.53 |
Summary of Restricted Stock Unit Activity | Restricted stock unit activity was as follows:
|  | Three Months Ended April 4, 2015 |
Restricted Stock Units |  | Shares |
Outstanding at beginning of year |  |  | 41,964 |
Released |  |  | (34 | )
Forfeited |  |  | (1,305 | )
Outstanding at end of period |  |  | 40,625 |
Weighted-Average Assumptions Used for Employee Purchase Rights Granted Under Stock Purchase Plan | The fair value of the purchase rights issued to Zebra employees under the stock purchase plan is estimated using the following weighted-average assumptions for purchase rights granted. Expected lives of three months to one year have been used along with these assumptions.
|  | Three Months Ended |
|  | April 4, 2015 |  |  | March 29, 2014 |
Fair market value |  | $ | 77.41 |  |  | $ | 54.08 |
Option price |  | $ | 73.54 |  |  | $ | 51.38 |
Expected dividend yield |  |  | 0 | % |  |  | 0 | %
Expected volatility |  |  | 23 | % |  |  | 33 | %
Risk free interest rate |  |  | 0.04 | % |  |  | 0.07 | %
Performance Stock Units [Member] |
Summary of Performance Share Award Activity | Performance stock unit activity was as follows:
|  | Three Months Ended April 4, 2015 |
Performance Stock Units |  | Shares |
Outstanding at beginning of year |  |  | 10,345 |
Forfeited |  |  | (680 | )
Outstanding at end of period |  |  | 9,665 |

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