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

9 Months Ended

Sep. 28, 2019

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

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 28, 2019, and September 29, 2018, using the Black-Scholes valuation model:    

			Nine Months Ended
			September 28, 2019						September 29, 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 nine months ended September 28, 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			(191)						77.92
Forfeited or expired			(49)						161.24
Outstanding at September 28, 2019			3,352						133.82						6.2						$	82.8
Exercisable at September 28, 2019			2,404						123.47						5.2						82.8

* 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 28, 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			(2)						164.55
Cancellations and other			(42)						160.11
Non-vested performance awards at September 28, 2019			160						160.73

* Weighted-average

Stock-Settled SARs

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

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 28, 2019, and September 29, 2018, using the Black-Scholes valuation model:

			Nine Months Ended
			September 28, 2019						September 29, 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 stock-settled SARs during the nine months ended September 28, 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			(1)						96.57
Forfeited or expired			(6)						150.14
Outstanding at September 28, 2019			457						149.19						7.2						$	4.6
Exercisable at September 28, 2019			277						142.29						6.2						4.6

* Weighted-average

Cash-Settled Stock Appreciation Rights

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

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 28, 2019, and September 29, 2018, using the Black-Scholes valuation model:

			Nine Months Ended
			September 28, 2019						September 29, 2018
Expected term of cash-settled SARs (in years)			3.09						3.01
Expected volatility factor			23.36%						21.22%
Expected dividend yield			1.94%						1.70%
Risk-free interest rate			1.58%						2.88%

Summary of Changes in SARs

Changes to the company’s non-vested cash-settled SARs during the nine months ended September 28, 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						22.90
Vested			(2)						21.38
Non-vested cash-settled SARs at September 28, 2019			2						19.50

* Weighted-average

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