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Stock-based Compensation and Other Stock Plans (Tables)

9 Months Ended

Sep. 29, 2018

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

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 29, 2018, and September 30, 2017, using the Black-Scholes valuation model; there were no stock options granted during the three months ended September 29, 2018, or September 30, 2017:    

	Nine Months Ended
	September 29, 2018		September 30, 2017
Expected term of option (in years)	5.35		5.15
Expected volatility factor	20.08%		22.01%
Expected dividend yield	1.68%		1.63%
Risk-free interest rate	2.71%		1.78%

Summary of Stock Option Activity

A summary of stock option activity as of and for the nine months ended September 29, 2018, is presented below:

	Shares (in thousands)			Exercise Price Per Share*				Remaining Contractual Term* (in years)		Aggregate Intrinsic Value (in millions)
Outstanding at December 30, 2017	3,198			$	115.30
Granted	515			161.18
Exercised	(496	)		88.30
Forfeited or expired	(34	)		159.17
Outstanding at September 29, 2018	3,183			126.45				6.4		$	181.9
Exercisable at September 29, 2018	2,089			108.93				5.3		156.0

* Weighted-average

Summary of Changes in Non-Vested Performance Awards

Changes to the company’s non-vested performance awards during the nine months ended September 29, 2018, are as follows:

	Shares (in thousands)			Fair Value Price per Share*
Non-vested performance awards at December 30, 2017	132			$	149.93
Granted	87			161.18
Vested	—			—
Cancellations and other	(15	)		160.21
Non-vested performance awards at September 29, 2018	204			153.99

* Weighted-average

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 29, 2018, and September 30, 2017, using the Black-Scholes valuation model; there were no stock-settled SARs granted during the three months ended September 29, 2018, or September 30, 2017:

	Nine Months Ended
	September 29, 2018		September 30, 2017
Expected term of stock-settled SARs (in years)	3.58		3.99
Expected volatility factor	20.08%		19.39%
Expected dividend yield	1.63%		1.46%
Risk-free interest rate	2.40%		1.55%

The following weighted-average assumptions were used in calculating the fair value of cash-settled SARs granted during the nine months ended September 29, 2018, and September 30, 2017, using the Black-Scholes valuation model; no cash-settled SARs were granted during the three months ended September 29, 2018, or September 30, 2017:

	Nine Months Ended
	September 29, 2018		September 30, 2017
Expected term of cash-settled SARs (in years)	3.01		3.38
Expected volatility factor	21.22%		19.58%
Expected dividend yield	1.70%		1.57%
Risk-free interest rate	2.88%		1.62%

Summary of Changes in SARs

Changes to the company’s non-vested cash-settled SARs during the nine months ended September 29, 2018, are as follows:

	Cash-settled SARs (in thousands)			Fair Value Price per Share*
Non-vested cash-settled SARs at December 30, 2017	5			$	35.41
Granted	1			39.15
Vested	(3	)		42.69
Non-vested cash-settled SARs at September 29, 2018	3			40.19

* Weighted-average

Changes to the company’s stock-settled SARs during the nine months ended September 29, 2018, 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 30, 2017	360			$	138.63
Granted	89			161.18
Exercised	(24	)		105.55
Forfeited or expired	(53	)		129.40
Outstanding at September 29, 2018	372			147.41				7.6		$	13.5
Exercisable at September 29, 2018	191			135.42				6.6		9.2

* 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 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.

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