XML 69 R45.htm IDEA: XBRL DOCUMENT
v3.22.4

Common Stock, Stock Option Plans and Stock Compensation Agreements (Tables) | 12 Months Ended
--- | ---
Jan. 01, 2023
Share-Based Payment Arrangement [Abstract] |
Schedule Valuation Assumptions | The average fair value of options granted was $23.23, $20.86 and $16.42, in fiscal years 2022, 2021 and 2020, respectively. The fair value was estimated based on the weighted average assumptions of:
| 2022 |  | 2021 |  | 2020
Risk-free rate | 1.98 | % |  | 0.83 | % |  | 1.47 | %
Expected volatility | 18.00 | % |  | 18.59 | % |  | 15.33 | %
Expected life (in years) | 7.0 |  | 7.0 |  | 7.0
Expected dividend yield | 2.70 | % |  | 2.50 | % |  | 2.60 | %
Summary of Stock Option Activity | A summary of option activity under the Plan as of January 1, 2023, January 2, 2022 and January 3, 2021, 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 29, 2019 |  | 111,637 |  |  | $ | 105.63 |  |  | $ | 4,478 |
Options granted |  | 20,723 |  |  | 151.41 |  |  |
Options exercised |  | (16,275) |  |  | 86.05 |  |  |
Options canceled/forfeited |  | (1,835) |  |  | 137.62 |  |  |
Shares at January 3, 2021 |  | 114,250 |  |  | 116.22 |  |  | 4,703 |
Options granted |  | 18,525 |  |  | 164.62 |  |  |
Options exercised |  | (13,248) |  |  | 97.48 |  |  |
Options canceled/forfeited |  | (2,166) |  |  | 149.75 |  |  |
Shares at January 2, 2022 |  | 117,361 |  |  | 125.36 |  |  | 5,364 |
Options granted |  | 19,809 |  |  | 165.89 |  |  |
Options exercised |  | (16,310) |  |  | 100.15 |  |  |
Options canceled/forfeited |  | (2,188) |  |  | 160.56 |  |  |
Shares at January 1, 2023 |  | 118,672 |  |  | $ | 134.95 |  |  | $ | 4,949 |
Summary of Options Outstanding | The following table summarizes stock options outstanding and exercisable at January 1, 2023:
(Shares in Thousands) |  | Outstanding |  | Exercisable
Exercise Price Range |  | Options |  | Average Life(1) |  | Weighted Average Exercise Price |  | Options |  | Weighted Average Exercise Price
$72.54-$100.48 |  | 17,221 |  |  | 1.5 |  | $93.07 |  | 17,221 |  |  | $93.07
$101.87-$115.67 |  | 22,039 |  |  | 3.6 |  | $108.78 |  | 22,039 |  |  | $108.78
$129.51-$141.06 |  | 24,870 |  |  | 5.7 |  | $130.88 |  | 24,228 |  |  | $130.85
$151.41-$164.62 |  | 35,465 |  |  | 7.6 |  | $157.75 |  | 150 |  |  | $156.21
$164.63-$165.89 |  | 19,077 |  |  | 9.1 |  | $165.89 |  | 23 |  |  | $165.89
|  | 118,672 |  |  | 5.8 |  | $134.95 |  | 63,661 |  |  | $113.06
(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 January 1, 2023 is presented below:
(Shares in Thousands) |  | Outstanding Restricted Share Units |  | Outstanding Performance Share Units
Shares at January 2, 2022 |  | 14,122 |  |  | 2,312 |
Granted |  | 5,154 |  |  | 753 |
Issued |  | (4,866) |  |  | (637) |
Canceled/forfeited/adjusted |  | (794) |  |  | (71) |
Shares at January 1, 2023 |  | 13,616 |  |  | 2,357 |

X
- References No definition available. + Details
Name: | us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of activity for award under share-based payment arrangement. Includes, but is not limited to, outstanding award at beginning and end of year, granted, exercised, forfeited, and weighted-average grant date fair value. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (e) -URI https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(2) -URI https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (d) -URI https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901 + Details
Name: | us-gaap_ScheduleOfShareBasedCompensationActivityTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of option exercise prices, by grouped ranges, including the upper and lower limits of the price range, the number of shares under option, weighted average exercise price and remaining contractual option terms. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -URI https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901 + Details
Name: | us-gaap_ScheduleOfShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure for stock option plans. Includes, but is not limited to, outstanding awards at beginning and end of year, grants, exercises, forfeitures, and weighted-average grant date fair value. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (d) -URI https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (e) -URI https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(1) -URI https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901 + Details
Name: | us-gaap_ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- 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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (f)(2) -URI https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901 + Details
Name: | us-gaap_ScheduleOfShareBasedPaymentAwardStockOptionsValuationAssumptionsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration