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Common Stock, Stock Option Plans and Stock Compensation Agreements (Tables) | 12 Months Ended
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Dec. 31, 2017
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] |
Schedule Valuation Assumptions | The average fair value of options granted was $13.38, $10.01 and $10.68, in 2017, 2016 and 2015, respectively. The fair value was estimated based on the weighted average assumptions of:
| 2017 |  | 2016 |  | 2015
Risk-free rate | 2.25 | % |  | 1.51 | % |  | 1.77 | %
Expected volatility | 15.30 | % |  | 15.76 | % |  | 15.48 | %
Expected life (in years) | 7.0 |  |  | 7.0 |  |  | 7.0 |
Expected dividend yield | 2.90 | % |  | 3.10 | % |  | 2.90 | %
Summary of Stock Option Activity | A summary of option activity under the Plan as of December 31, 2017, January 1, 2017 and January 3, 2016, and changes during the years ending on those dates is presented below:
(Shares in Thousands) |  | Outstanding Shares |  | Weighted Average Exercise Price |  | Aggregate Intrinsic Value (Dollars in Millions)
Shares at December 28, 2014 |  | 115,712 |  |  | $ | 70.37 |  |  | $ | 4,014 |
Options granted |  | 20,484 |  |  | 100.06 |  |  |
Options exercised |  | (16,683 | ) |  | 62.53 |  |  |
Options canceled/forfeited |  | (2,996 | ) |  | 82.22 |  |  |
Shares at January 3, 2016 |  | 116,517 |  |  | 76.41 |  |  | 3,065 |
Options granted |  | 22,491 |  |  | 101.87 |  |  |
Options exercised |  | (22,547 | ) |  | 65.66 |  |  |
Options canceled/forfeited |  | (3,006 | ) |  | 92.83 |  |  |
Shares at January 1, 2017 |  | 113,455 |  |  | 83.16 |  |  | 3,636 |
Options granted |  | 19,287 |  |  | 115.67 |  |  |
Options exercised |  | (18,975 | ) |  | 70.87 |  |  |
Options canceled/forfeited |  | (2,461 | ) |  | 101.40 |  |  |
Shares at December 31, 2017 |  | 111,306 |  |  | $ | 90.48 |  |  | $ | 5,480 |
Summary of Options Outstanding | The following table summarizes stock options outstanding and exercisable at December 31, 2017:
(Shares in Thousands) |  | Outstanding |  | Exercisable
Exercise Price Range |  | Options |  | Average Life(1) |  | Average Exercise Price |  | Options |  | Average Exercise Price
$52.13-$62.20 |  | 12,148 |  |  | 1.7 |  | $60.37 |  | 12,148 |  |  | $60.37
$62.62-$65.62 |  | 9,548 |  |  | 3.0 |  | $63.91 |  | 9,547 |  |  | $63.91
$66.07-$72.54 |  | 14,816 |  |  | 5.0 |  | $72.53 |  | 14,816 |  |  | $72.53
$90.44-$100.48 |  | 35,035 |  |  | 6.6 |  | $95.48 |  | 15,843 |  |  | $90.49
$101.87-$115.67 |  | 39,759 |  |  | 8.6 |  | $108.35 |  | 67 |  |  | $105.91
|  | 111,306 |  |  | 6.3 |  | $90.48 |  | 52,421 |  |  | $73.61
(1) Average contractual life remaining in years.
Summary of Restricted Share Units | A summary of the restricted share units and performance share units activity under the Plans as of December 31, 2017 is presented below:
(Shares in Thousands) |  | Outstanding Restricted Share Units |  | Outstanding Performance Share Units
Shares at January 1, 2017 |  | 21,061 |  |  | 2,415 |
Granted |  | 7,248 |  |  | 1,276 |
Issued |  | (7,205 | ) |  | (1,361 | )
Canceled/forfeited/adjusted |  | (943 | ) |  | 295 |
Shares at December 31, 2017 |  | 20,161 |  |  | 2,625 |

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- Definition Tabular disclosure of the significant assumptions used during the year to estimate the fair value of stock options, including, but not limited to: (a) expected term of share options and similar instruments, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (f)(2) -URI http://asc.fasb.org/extlink&oid=96867065&loc=d3e5070-113901 + Details
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