XML 60 R15.htm IDEA: XBRL DOCUMENT
v3.2.0.727

Benefit Plans | 9 Months Ended
--- | ---
Jun. 27, 2015
Benefit Plans | Note 9 – Benefit Plans Stock Plans The Company had 445.2 million shares reserved for future issuance under its stock plans as of June 27, 2015. RSUs granted generally vest over four years, based on continued employment, and are settled upon vesting in shares of the Company’s common stock on a one-for-one basis. Each share issued with respect to RSUs granted under the Company’s stock plans reduces the number of shares available for grant under the plan by two shares. RSUs cancelled and shares withheld to satisfy tax withholding obligations increase the number of shares available for grant under the plans utilizing a factor of two times the number of RSUs cancelled or shares withheld. Stock options count against the number of shares available for grant on a one-for-one basis. Rule 10b5-1 Trading Plans During the three months ended June 27, 2015, Section 16 officers Timothy D. Cook, Angela Ahrendts, Luca Maestri, Daniel Riccio and Jeffrey Williams had equity trading plans in place in accordance with Rule 10b5-1(c)(1) under the Exchange Act. An equity trading plan is a written document that pre-establishes the amounts, prices and dates (or formula for determining the amounts, prices and dates) of future purchases or sales of the Company’s stock, including shares acquired pursuant to the Company’s employee and director equity plans. Restricted Stock Units A summary of the Company’s RSU activity and related information for the nine months ended June 27, 2015 is as follows:
|  | Number of RSUs (in thousands) |  |  | Weighted-Average Grant Date Fair Value |  |  | Aggregate Intrinsic Value (in millions) |
Balance at September 27, 2014 |  |  | 103,822 |  |  | $ | 70.98 |  |  |  |  |
RSUs granted |  |  | 41,679 |  |  | $ | 104.26 |  |  |  |  |
RSUs vested |  |  | (37,495 | ) |  | $ | 71.13 |  |  |  |  |
RSUs cancelled |  |  | (4,461 | ) |  | $ | 77.71 |  |  |  |  |
Balance at June 27, 2015 |  |  | 103,545 |  |  | $ | 84.03 |  |  | $ | 13,124 |
RSUs that vested during the three- and nine-month periods ended June 27, 2015 had fair values of $2.3 billion and $4.3 billion, respectively, as of the vesting date. RSUs that vested during the three- and nine-month periods ended June 28, 2014 had fair values of $1.3 billion and $2.6 billion, respectively, as of the vesting date. Stock Options The Company had 1.6 million stock options outstanding as of June 27, 2015, with a weighted-average exercise price per share of $16.62 and weighted-average remaining contractual term of 3.4 years, substantially all of which are exercisable. The aggregate intrinsic value of the stock options outstanding as of June 27, 2015 was $177 million, which represents the value of the Company’s closing stock price on the last trading day of the period in excess of the weighted-average exercise price multiplied by the number of options outstanding. The total intrinsic value of options at the time of exercise was $72 million and $439 million for the three- and nine-month periods ended June 27, 2015, respectively, and $271 million and $978 million for the three- and nine-month periods ended June 28, 2014, respectively. Share-Based Compensation The following table shows a summary of the share-based compensation expense included in the Condensed Consolidated Statements of Operations for the three- and nine-month periods ended June 27, 2015 and June 28, 2014 (in millions):
|  | Three Months Ended |  |  | Nine Months Ended |
|  | June 27, 2015 |  |  | June 28, 2014 |  |  | June 27, 2015 |  |  | June 28, 2014 |
Cost of sales |  | $ | 148 |  |  | $ | 115 |  |  | $ | 430 |  |  | $ | 334 |
Research and development |  |  | 388 |  |  |  | 313 |  |  |  | 1,146 |  |  |  | 902 |
Selling, general and administrative |  |  | 320 |  |  |  | 296 |  |  |  | 1,095 |  |  |  | 865 |
Total share-based compensation expense |  | $ | 856 |  |  | $ | 724 |  |  | $ | 2,671 |  |  | $ | 2,101 |
The income tax benefit related to share-based compensation expense was $286 million and $948 million for the three- and nine-month periods ended June 27, 2015, respectively, and was $260 million and $755 million for the three- and nine-month periods ended June 28, 2014, respectively. As of June 27, 2015, the total unrecognized compensation cost related to outstanding stock options and RSUs expected to vest was $7.3 billion, which the Company expects to recognize over a weighted-average period of 2.8 years.

X
- Definition The entire disclosure for an entity's employee compensation and benefit plans, including, but not limited to, postemployment and postretirement benefit plans, defined benefit pension plans, defined contribution plans, non-qualified and supplemental benefit plans, deferred compensation, share-based compensation, life insurance, severance, health care, unemployment and other benefit plans. + References No definition available. + Details
Name: | us-gaap_CompensationAndEmployeeBenefitPlansTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration