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Stock-based Compensation and Other Stock Plans (Tables) | 6 Months Ended
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Jun. 28, 2014
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 the three month period ended June 28, 2014, and the six month periods ended June 28, 2014, and June 29, 2013, using the Black-Scholes valuation model; no stock options were granted during the three month period ended June 29, 2013:
|  | Three Months Ended |  | Six Months Ended |
|  | June 28, 2014 |  |  | June 29, 2013 |  | June 28, 2014 |  |  | June 29, 2013 |
Expected term of option (in years) |  |  | 3.47 |  |  | N/A |  |  | 4.52 |  |  |  | 4.29 |
Expected volatility factor |  |  | 24.54 | % |  | N/A |  |  | 26.76 | % |  |  | 33.81 | %
Expected dividend yield |  |  | 2.28 | % |  | N/A |  |  | 2.40 | % |  |  | 2.67 | %
Risk-free interest rate |  |  | 0.89 | % |  | N/A |  |  | 1.30 | % |  |  | 0.79 | %
Summary of Stock Option Activity | A summary of stock option activity as of and for the six month period ended June 28, 2014, is presented below:
|  | Shares (in thousands) |  |  | Exercise Price Per Share* |  |  | Remaining Contractual Term* (in years) |  |  | Aggregate Intrinsic Value (in millions) |
Outstanding at December 28, 2013 |  |  | 2,429 |  |  | $ | 58.35 |  |  |  |  |  |  |  |  |
Granted |  |  | 644 |  |  |  | 109.44 |  |  |  |  |  |  |  |  |
Exercised |  |  | (324 | ) |  |  | 52.16 |  |  |  |  |  |  |  |  |
Forfeited or expired |  |  | (22 | ) |  |  | 89.31 |  |  |  |  |  |  |  |  |
Outstanding at June 28, 2014 |  |  | 2,727 |  |  |  | 70.91 |  |  |  | 7.3 |  |  | $ | 130.2 |
Exercisable at June 28, 2014 |  |  | 1,475 |  |  |  | 53.55 |  |  |  | 5.9 |  |  |  | 96.0 |
* | Weighted-average
Nonvested Performance Shares [Member] |
Summary of Changes in Non-Vested Performance Awards | The changes to the company’s non-vested performance awards during the six month period ended June 28, 2014, are as follows:
|  | Shares (in thousands) |  |  | Fair Value Price per Share (*) |
Non-vested performance awards at December 28, 2013 |  |  | 381 |  |  | $ | 68.13 |
Granted |  |  | 158 |  |  |  | 102.55 |
Vested |  |  | (2 | ) |  |  | 66.12 |
Cancellations and other |  |  | (6 | ) |  |  | 78.76 |
Non-vested performance awards at June 28, 2014 |  |  | 531 |  |  |  | 78.15 |
* | 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 the six month periods ended June 28, 2014, and June 29, 2013, using the Black-Scholes valuation model; no cash-settled SARs were granted during the three month periods ended June 28, 2014 or June 29, 2013:
|  | Six Months Ended |
|  | June 28, 2014 |  |  | June 29, 2013 |
Expected term of cash-settled SARs (in years) |  |  | 4.00 |  |  |  | 3.81 |
Expected volatility factor |  |  | 24.15 | % |  |  | 26.55 | %
Expected dividend yield |  |  | 2.29 | % |  |  | 2.70 | %
Risk-free interest rate |  |  | 1.64 | % |  |  | 0.66 | %
Summary of Changes in SARs | Changes to the company’s non-vested cash-settled SARs during the six month period ended June 29, 2013, are as follows:
|  | Cash-settled SARs (in thousands) |  |  | Fair Value Price per Share* |
Non-vested SARs at December 28, 2013 |  |  | 126 |  |  | $ | 43.72 |
Granted |  |  | 4 |  |  |  | 22.85 |
Vested |  |  | (81 | ) |  |  | 55.19 |
Cancellations |  |  | (2 | ) |  |  | — |
Non-vested SARs at June 28, 2014 |  |  | 47 |  |  |  | 50.65 |
* | 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 the three month period ended June 28, 2014, and the six month periods ended June 28, 2014, and June 29, 2013 using the Black-Scholes valuation model; no stock-settled SARs were granted during the three month period ended June 29, 2013:
|  | Three Months Ended |  | Six Months Ended |
|  | June 28, 2014 |  |  | June 29, 2013 |  | June 28, 2014 |  |  | June 29, 2013 |
Expected term of option (in years) |  |  | 3.47 |  |  | N/A |  |  | 4.49 |  |  |  | 4.25 |
Expected volatility factor |  |  | 24.54 | % |  | N/A |  |  | 25.64 | % |  |  | 34.09 | %
Expected dividend yield |  |  | 2.28 | % |  | N/A |  |  | 2.40 | % |  |  | 2.67 | %
Risk-free interest rate |  |  | 0.89 | % |  | N/A |  |  | 1.50 | % |  |  | 0.92 | %
Summary of Changes in SARs | Changes to the company’s non-vested stock-settled SARs during the six month period ended June 28, 2014, are as follows:
|  | Stock-settled SARs (in thousands) |  |  | Exercise Price Per Share* |  |  | Remaining Contractual Term* (in years) |  |  | Aggregate Intrinsic Value (in millions) |
Outstanding at December 28, 2013 |  |  | 122 |  |  | $ | 79.29 |  |  |  |  |  |  |  |  |
Granted |  |  | 116 |  |  |  | 109.98 |  |  |  |  |  |  |  |  |
Exercised |  |  | (2 | ) |  |  | 79.04 |  |  |  |  |  |  |  |  |
Forfeited or expired |  |  | (9 | ) |  |  | 79.04 |  |  |  |  |  |  |  |  |
Outstanding at June 28, 2014 |  |  | 227 |  |  |  | 94.71 |  |  |  | 9.2 |  |  | $ | 5.4 |
Exercisable at June 28, 2014 |  |  | 30 |  |  |  | 79.04 |  |  |  | 8.6 |  |  |  | 1.2 |
* | Weighted-average

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- Definition 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. + 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 (c)(1) -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901 + Details
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- Definition 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. + 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 (c)(1) -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901 + Details
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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=6415400&loc=d3e5070-113901 + Details
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