XML 47 R29.htm IDEA: XBRL DOCUMENT v3.5.0.2
Employee Stock Purchase and Stock Option Plans (Tables)
12 Months Ended
Sep. 30, 2016
Stock Issuance Activity Under the 1989 ESPP and the GESPP

The following table summarizes the stock issuance activity under the 1989 ESPP and the GESPP during each of the last three fiscal years:

 

 

2016

 

 

2015

 

 

2014

 

Aggregate Purchase Price Paid for Shares

   Sold:

 

 

 

 

 

 

 

 

 

 

 

 

Under the 1989 ESPP

 

$

23,631,241

 

 

$

28,621,800

 

 

$

30,354,723

 

Under the GESPP

 

 

2,660,067

 

 

 

3,535,479

 

 

 

3,314,046

 

Total

 

$

26,291,308

 

 

$

32,157,279

 

 

$

33,668,769

 

Aggregate Number of Shares Sold:

 

 

 

 

 

 

 

 

 

 

 

 

Under the 1989 ESPP

 

$

564,461

 

 

$

696,853

 

 

$

553,201

 

Under the GESPP

 

 

63,196

 

 

 

84,361

 

 

 

59,883

 

Total

 

$

627,657

 

 

$

781,214

 

 

$

613,084

 

 

Stock-based Compensation Expense by Type of Award

The following table presents our stock-based compensation expense for the various types of awards made by the Company for each of the fiscal years presented (in thousands):

 

Award Type

 

2016

 

 

2015

 

 

2014

 

Restricted Stock and Restricted Stock Units (excluding

   Market and Performance Awards)

 

$

21,156

 

 

$

20,779

 

 

$

17,307

 

Stock Options

 

 

7,165

 

 

 

10,683

 

 

 

10,829

 

Market and Performance Awards

 

 

4,049

 

 

 

9,950

 

 

 

15,264

 

Total Expense

 

$

32,370

 

 

$

41,412

 

 

$

43,400

 

 

Fair Value of Shares Vested

The following table presents the Fair Value of shares (of restricted stock and restricted stock units) vested during each of the last three fiscal years (in thousands):

 

 

 

2016

 

 

2015

 

 

2014

 

Restricted Stock and Restricted Stock Units

   (service condition)

 

$

17,481

 

 

$

18,568

 

 

$

6,820

 

Restricted Stock Units (service, market, and

   performance conditions at target)

 

 

4,336

 

 

 

11,264

 

 

 

18,675

 

Total

 

$

21,817

 

 

$

29,832

 

 

$

25,495

 

 

Stock Options Activity

The following table summarizes the stock option activity for each of the last three fiscal years:

 

 

 

Number of

Stock

Options

 

 

Weighted

Average

Exercise

Price

 

Outstanding at September 27, 2013

 

 

4,606,212

 

 

$

52.33

 

Granted

 

 

602,525

 

 

$

53.51

 

Exercised

 

 

(718,065

)

 

$

47.18

 

Cancelled or expired

 

 

(269,525

)

 

$

54.46

 

Outstanding at September 26, 2014

 

 

4,221,147

 

 

$

53.23

 

Granted

 

 

614,759

 

 

$

43.56

 

Exercised

 

 

(34,000

)

 

$

31.54

 

Cancelled or expired

 

 

(729,199

)

 

$

86.15

 

Outstanding at October 2, 2015

 

 

4,072,707

 

 

$

46.06

 

Granted

 

 

460,770

 

 

$

42.17

 

Exercised

 

 

(412,416

)

 

$

40.88

 

Cancelled or expired

 

 

(543,549

)

 

$

49.13

 

Outstanding at September 30, 2016

 

 

3,577,512

 

 

$

45.69

 

 

Total Intrinsic Value of Options Exercised

The following table presents the total intrinsic value of stock options exercised during each of the last three fiscal years (in thousands):

 

2016

 

 

2015

 

 

2014

 

$

4,149

 

 

$

442

 

 

$

9,590

 

 

Information Regarding our Stock Option Plans

The following table presents certain other information regarding our 1999 Plans:

 

 

 

2016

 

 

2015

 

 

2014

 

At fiscal year end:

 

 

 

 

 

 

 

 

 

 

 

 

Range of exercise prices for options

   outstanding

 

$32.51–$80.63

 

 

$32.51–$80.63

 

 

$25.87–$94.11

 

Number of options exercisable

 

 

2,581,421

 

 

 

2,590,560

 

 

 

2,725,980

 

For the fiscal year:

 

 

 

 

 

 

 

 

 

 

 

 

Range of prices relating to options

   exercised

 

$36.88–$55.00

 

 

$25.87–$42.74

 

 

$20.98–$57.54

 

Estimated weighted average fair values of

   options granted

 

$

12.80

 

 

$

13.41

 

 

$

19.04

 

 

Information Regarding Options Outstanding, and Options Exercisable

The following table presents certain information regarding stock options outstanding, and stock options exercisable at September 30, 2016:

 

 

 

Options Outstanding

 

 

Options Exercisable

 

Range of Exercise Prices

 

Number

 

 

Weighted

Average

Remaining

Contractual

Life

(years)

 

 

Weighted

Average

Price

 

 

Number

 

 

Weighted

Average

Exercise

Price

 

$32.51 - $37.03

 

 

337,875

 

 

 

5.51

 

 

 

37.00

 

 

 

337,875

 

 

 

37.00

 

$37.43 - $46.37

 

 

2,096,554

 

 

 

5.87

 

 

 

42.67

 

 

 

1,328,450

 

 

 

42.60

 

$47.11 - $55.53

 

 

1,059,633

 

 

 

6.11

 

 

 

52.84

 

 

 

853,071

 

 

 

52.68

 

$60.08 - $80.63

 

 

83,450

 

 

 

5.48

 

 

 

65.99

 

 

 

62,025

 

 

 

67.93

 

 

 

 

3,577,512

 

 

 

5.90

 

 

 

45.69

 

 

 

2,581,421

 

 

 

45.81

 

 

Restricted Stock and Restricted Stock Units Activity

Restricted Stock

The following table presents the number of shares of restricted stock and restricted stock units issued under the 1999 SIP during each of the last three fiscal years:

 

 

 

2016

 

 

2015

 

 

2014

 

Restricted stock

 

 

597,091

 

 

 

507,882

 

 

 

589,150

 

Restricted stock units (service condition)

 

 

183,131

 

 

 

126,635

 

 

 

287,545

 

Restricted stock units (service and

   performance conditions)

 

 

372,794

 

 

 

219,965

 

 

 

432,700

 

The amount of restricted stock units issued for awards with performance and market conditions in the above table are based on the target amount

The share amounts in the above tables reflect the Non-Fungible share counting of 1 share for each share of restricted stock and restricted stock unit issued.

The following table presents the number of shares of restricted stock and restricted stock units cancelled and withheld for taxes under the 1999 SIP during each of the last three fiscal years:

 

 

 

2016

 

 

2015

 

 

2014

 

Restricted stock

 

 

512,903

 

 

 

326,480

 

 

 

147,221

 

Restricted stock units (service condition)

 

 

177,640

 

 

 

70,296

 

 

 

12,333

 

Restricted stock units (service and

   performance conditions)

 

 

275,933

 

 

 

194,116

 

 

 

52,000

 

The amount of restricted stock units cancelled for awards with market and performance conditions in the above table is based on the target amount.

The share amounts in the above tables reflect the Non-Fungible share counting of 1 share for each share of restricted stock and restricted stock unit issued.

The following table provides the number of shares of restricted stock and restricted stock units outstanding at September 30, 2016 under the 1999 SIP. Shares granted prior to September 29, 2012 are not Fungible (granted on a 1-to-1 basis). Shares Granted after September 28, 2012 are Fungible (granted on a 1.92 -to-1.00 basis):

 

 

Not Fungible

 

 

Fungible

 

 

Total

 

Restricted stock

 

 

245,150

 

 

 

1,444,927

 

 

 

1,690,077

 

Restricted stock units (service condition)

 

 

57,300

 

 

 

466,588

 

 

 

523,888

 

Restricted stock units (service and

   performance conditions at target)

 

 

 

 

 

721,934

 

 

 

721,934

 

 

The following table presents the number of shares of restricted stock and restricted stock units issued under the 1999 ODSP during each of the last three fiscal years:

 

 

 

2016

 

 

2015

 

 

2014

 

Restricted stock units (service condition)

 

 

23,090

 

 

 

13,500

 

 

 

15,000

 

The following table provides the number of shares of restricted stock and restricted stock units outstanding at September 30, 2016 under the 1999 ODSP:

 

 

 

2016

 

Restricted stock

 

 

34,000

 

Restricted stock units (service condition)

 

 

88,590

 

 

Total Pre-Tax Compensation Cost Relating to Share-Based Payments Included in the Accompanying Consolidated Statements of Earnings

The following table presents the Company’s total pre-tax compensation cost relating to share-based payments included in the accompanying Consolidated Statements of Earnings (in thousands):  

 

2016

 

 

2015

 

 

2014

 

$

32,370

 

 

$

41,412

 

 

$

43,400

 

 

Stock Incentive Plans  
Stock-based Compensation Expense by Type of Award

The following table sets forth certain information about the 1999 Plans:

 

 

1999 SIP

 

 

1999 ODSP

 

 

Total

 

Number of shares authorized

 

 

29,850,000

 

 

 

1,100,000

 

 

 

30,950,000

 

Number of remaining shares reserved for

   issuance at September 30, 2016

 

 

10,532,310

 

 

 

597,910

 

 

 

11,130,220

 

Number of shares relating to outstanding stock

   options at September 30, 2016

 

 

3,299,137

 

 

 

278,375

 

 

 

3,577,512

 

Number of shares available for future awards:

 

 

 

 

 

 

 

 

 

 

 

 

At September 30, 2016

 

 

7,233,173

 

 

 

319,535

 

 

 

7,552,708

 

At October 2, 2015

 

 

7,103,759

 

 

 

41,125

 

 

 

7,144,884