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Stock-based Compensation and Other Stock Plans (Tables) | 9 Months Ended
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Sep. 30, 2017
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 nine months ended September 30, 2017, and October 1, 2016, using the Black-Scholes valuation model; there were no stock options granted during the three months ended September 30, 2017, or October 1, 2016:
|  | Nine Months Ended
|  | September 30, 2017 |  | October 1, 2016
Expected term of option (in years) |  | 5.15 |  | 5.05
Expected volatility factor |  | 22.01% |  | 22.17%
Expected dividend yield |  | 1.63% |  | 1.77%
Risk-free interest rate |  | 1.78% |  | 1.04%
Summary of Stock Option Activity | A summary of stock option activity as of and for the nine months ended September 30, 2017, is presented below:
|  | Shares (in thousands) |  |  | Exercise Price Per Share* |  |  | Remaining Contractual Term* (in years) |  |  | Aggregate Intrinsic Value (in millions) |
Outstanding at December 31, 2016 |  |  | 3,011 |  |  | $ | 100.78 |  |  |  |  |  |  |  |  |
Granted |  |  | 655 |  |  |  | 168.71 |  |  |  |  |  |  |  |  |
Exercised |  |  | (278) |  |  |  | 87.00 |  |  |  |  |  |  |  |  |
Forfeited or expired |  |  | (71) |  |  |  | 153.52 |  |  |  |  |  |  |  |  |
Outstanding at September 30, 2017 |  |  | 3,317 |  |  |  | 114.22 |  |  |  | 6.6 |  |  | $ | 127.7 |
Exercisable at September 30, 2017 |  |  | 2,108 |  |  |  | 90.90 |  |  |  | 5.3 |  |  |  | 122.5 |
* Weighted-average
Nonvested Performance Shares [Member] |
Summary of Changes in Non-Vested Performance Awards | Changes to the company’s non-vested performance awards during the nine months ended September 30, 2017, are as follows:
|  | Shares (in thousands) |  |  | Fair Value Price per Share* |
Non-vested performance awards at December 31, 2016 |  |  | 207 |  |  | $ | 141.94 |
Granted |  |  | 77 |  |  |  | 168.70 |
Vested |  |  | (5) |  |  |  | 142.78 |
Cancellations and other |  |  | (28) |  |  |  | 154.46 |
Non-vested performance awards at September 30, 2017 |  |  | 251 |  |  |  | 148.64 |
* 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 nine months ended September 30, 2017, and October 1, 2016, using the Black-Scholes valuation model; there were no stock-settled SARs granted during the three months ended September 30, 2017, or October 1, 2016:
|  | Nine Months Ended
|  | September 30, 2017 |  | October 1, 2016
Expected term of stock-settled SARs (in years) |  | 3.99 |  | 4.03
Expected volatility factor |  | 19.39% |  | 20.09%
Expected dividend yield |  | 1.46% |  | 1.66%
Risk-free interest rate |  | 1.55% |  | 1.11%
Summary of Changes in SARs | Changes to the company’s stock-settled SARs during the nine months ended September 30, 2017, 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 31, 2016 |  |  | 303 |  |  | $ | 125.38 |  |  |  |  |  |  |  |  |
Granted |  |  | 100 |  |  |  | 168.73 |  |  |  |  |  |  |  |  |
Exercised |  |  | (8) |  |  |  | 106.07 |  |  |  |  |  |  |  |  |
Forfeited or expired |  |  | (22) |  |  |  | 124.88 |  |  |  |  |  |  |  |  |
Outstanding at September 30, 2017 |  |  | 373 |  |  |  | 137.49 |  |  |  | 7.8 |  |  | $ | 6.3 |
Exercisable at September 30, 2017 |  |  | 179 |  |  |  | 118.54 |  |  |  | 6.8 |  |  |  | 5.4 |
* 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 nine months ended September 30, 2017, and October 1, 2016, using the Black-Scholes valuation model; no cash-settled SARs were granted during the three months ended September 30, 2017, or October 1, 2016:
|  | Nine Months Ended
|  | September 30, 2017 |  | October 1, 2016
Expected term of cash-settled SARs (in years) |  | 3.38 |  | 3.43
Expected volatility factor |  | 19.58% |  | 19.03%
Expected dividend yield |  | 1.57% |  | 1.58%
Risk-free interest rate |  | 1.62% |  | 0.88%
Summary of Changes in SARs | Changes to the company’s non-vested cash-settled SARs during the nine months ended September 30, 2017, are as follows:
|  | Cash-settled SARs (in thousands) |  |  | Fair Value Price per Share* |
Non-vested cash-settled SARs at December 31, 2016 |  |  | 7 |  |  | $ | 40.83 |
Granted |  |  | 1 |  |  |  | 13.52 |
Vested |  |  | (3) |  |  |  | 26.11 |
Non-vested cash-settled SARs at September 30, 2017 |  |  | 5 |  |  |  | 18.78 |
* Weighted-average

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- Definition Tabular disclosure of the changes in outstanding nonvested performance-based units. + 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)(2) -URI http://asc.fasb.org/extlink&oid=96867065&loc=d3e5070-113901 + Details
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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=96867065&loc=d3e5070-113901 + Details
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- 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://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=96867065&loc=d3e5070-113901 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (e) -URI http://asc.fasb.org/extlink&oid=96867065&loc=d3e5070-113901 Reference 3: 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=96867065&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=96867065&loc=d3e5070-113901 + Details
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