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Stock-based Compensation and Other Stock Plans (Tables)

12 Months Ended

Dec. 28, 2013

Summary of Weighted-Average Assumptions of Fair Value Granted Using Black-Scholes Valuation Model

The following weighted-average assumptions were used in calculating the fair value of stock options granted during 2013, 2012 and 2011, using the Black-Scholes valuation model:

		2013				2012				2011
Expected term of option (in years)			4.29				5.36				5.89
Expected volatility factor			33.79%				36.93%				34.22%
Expected dividend yield			2.67%				2.72%				2.72%
Risk-free interest rate			0.79%				0.82%				2.31%

Summary of Stock Option Activity

A summary of stock option activity during 2013 is presented below:

		Shares      (in thousands)				Exercise  Price per  Share*				Remaining    Contractual    Term* (in years)		Aggregate Intrinsic Value (in millions)
Outstanding at beginning of year			2,161			$	50.48
Granted			641				79.07
Exercised			(360)				47.65
Forfeited or expired			(13)				69.24
Outstanding at end of year			2,429				58.35			7.0		$	121.2
Exercisable at end of year			1,206				46.81			5.5			74.1

* Weighted-average

Nonvested Performance Shares [Member]

Summary of Changes in Non-Vested Performance Awards

The changes to the company’s non-vested performance awards in 2013 are as follows:

				Shares       (in thousands)				Fair Value Price per Share*
Non-vested performance awards at beginning of year					509			$	59.36
Granted					180				77.33
Vested					(306)				58.94
Cancellations					(2)				69.23
Non-vested performance awards at end of year					381				68.13

* Weighted-average

Cash-Settled Stock Appreciation Rights [Member]

Summary of Weighted-Average Assumptions of Fair Value Granted Using Black-Scholes Valuation Model

The following weighted-average assumptions were used in calculating the fair value of cash-settled SARs granted during 2013, 2012 and 2011 using the Black-Scholes valuation model:

		2013				2012				2011
Expected term of cash-settled SARs (in years)			3.28				4.49				4.67
Expected volatility factor			24.54%				36.44%				38.45%
Expected dividend yield			2.57%				2.69%				2.72%
Risk-free interest rate			0.79%				0.72%				0.83%

Summary of Changes in SARs

Changes to the company’s non-vested cash-settled SARs in 2013 are as follows:

		Cash-settled SARs        (in thousands)				Fair Value Price per Share*
Non-vested SARs at beginning of year			238			$	24.26
Granted			4				29.27
Vested			(113)				49.99
Cancellations			(3)				–
Non-vested SARs at end of year			126				43.72

* Weighted-average

Stock-Settled SARs [Member]

Summary of Weighted-Average Assumptions of Fair Value Granted Using Black-Scholes Valuation Model

The following weighted-average assumptions were used in calculating the fair value of stock-settled SARs granted during 2013 using the Black-Scholes valuation model:

		2013
Expected term of stock-settled SARs (in years)			4.24
Expected volatility factor			33.92%
Expected dividend yield			2.67%
Risk-free interest rate			0.91%

Summary of Changes in SARs

Changes to the company’s stock-settled SARs in 2013 are as follows:

Stock-settled SARs      (in thousands)

Exercise  Price per   Share*

Remaining    Contractual    Term* (in years)

Aggregate Intrinsic Value (in millions)

Outstanding at beginning of year

–

$

–

Granted

122

79.29

Exercised

–

–

Forfeited or expired

–

–

Outstanding at end of year

122

79.29

9.1

$

3.5

Exercisable at end of year

–

–

–

–

* Weighted-average

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Share-based compensation arrangement by share-based payment award, fair value assumptions.

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Tabular disclosure of the changes in outstanding nonvested performance-based units.

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Tabular disclosure of the number and weighted-average exercise prices (or conversion ratios) for stock appreciation rights awards that were outstanding at the beginning and end of the year, and the number of stock appreciation rights awards that were granted, exercised or converted, forfeited, and expired during the year.

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Tabular disclosure of the number and weighted-average exercise prices (or conversion ratios) for share options (or share units) that were outstanding at the beginning and end of the year, vested and expected to vest, exercisable or convertible at the end of the year, and the number of share options or share units that were granted, exercised or converted, forfeited, and expired during the year.

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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.

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-Topic 718

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