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Stock-based Compensation and Other Stock Plans - (Tables)

6 Months Ended

Jun. 29, 2019

Share-based Payment Arrangement [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 six months ended June 29, 2019, and June 30, 2018, using the Black-Scholes valuation model:    

 

	Six Months Ended
	June 29, 2019		June 30, 2018
Expected term of option (in years)	5.53		5.35
Expected volatility factor	21.30%		20.08%
Expected dividend yield	1.79%		1.68%
Risk-free interest rate	2.54%		2.71%

Summary of Stock Option Activity

A summary of stock option activity as of and for the six months ended June 29, 2019, is presented below:

	Shares (in thousands)			Exercise Price Per Share*				Remaining Contractual Term* (in years)		Aggregate Intrinsic Value (in millions)
Outstanding at December 29, 2018	3,130			$	127.57
Granted	462			155.93
Exercised	(156	)		84.98
Forfeited or expired	(49	)		161.24
Outstanding at June 29, 2019	3,387			132.91				6.4		$	112.6
Exercisable at June 29, 2019	2,440			122.36				5.4		106.8

* Weighted-average

Summary of Changes in Non-Vested Performance Awards

Changes to the company’s non-vested performance awards during the six months ended June 29, 2019, are as follows:

	Shares (in thousands)			Fair Value Price per Share*
Non-vested performance awards at December 29, 2018	120			$	164.00
Granted	84			155.92
Vested	—			—
Cancellations and other	(17	)		160.39
Non-vested performance awards at June 29, 2019	187			160.69

* 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 cash-settled SARs granted during the six months ended June 29, 2019, and June 30, 2018, using the Black-Scholes valuation model:

	Six Months Ended
	June 29, 2019		June 30, 2018
Expected term of cash-settled SARs (in years)	3.34		3.26
Expected volatility factor	22.52%		20.54%
Expected dividend yield	1.87%		1.67%
Risk-free interest rate	1.71%		2.63%

The following weighted-average assumptions were used in calculating the fair value of stock-settled SARs granted during the six months ended June 29, 2019, and June 30, 2018, using the Black-Scholes valuation model:

	Six Months Ended
	June 29, 2019		June 30, 2018
Expected term of stock-settled SARs (in years)	3.65		3.58
Expected volatility factor	22.60%		20.08%
Expected dividend yield	1.81%		1.63%
Risk-free interest rate	2.48%		2.40%

Summary of Changes in SARs

Changes to the company’s non-vested cash-settled SARs during the six months ended June 29, 2019, are as follows:

	Cash-settled SARs (in thousands)			Fair Value Price per Share*
Non-vested cash-settled SARs at December 29, 2018	3			$	14.89
Granted	1			29.08
Vested	(2	)		28.64
Non-vested cash-settled SARs at June 29, 2019	2			25.72

* Weighted-average

Changes to the company’s stock-settled SARs during the six months ended June 29, 2019, 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 29, 2018	372			$	147.41
Granted	92			155.95
Exercised	—			—
Forfeited or expired	(5	)		152.08
Outstanding at June 29, 2019	459			149.13				7.4		$	7.9
Exercisable at June 29, 2019	278			142.23				6.4		6.7

* 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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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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