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LONG-TERM INCENTIVE COMPENSATION (Tables) | 12 Months Ended
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Dec. 30, 2023
Share-Based Payment Arrangement [Abstract] |
Schedule of Stock-Based Compensation Expense and the Related Recognized Tax Benefit | Stock-based compensation expense and the related recognized tax benefit were as follows:
(In millions) |  | 2023 |  | 2022 |  | 2021
Stock-based compensation expense |  | $ | 22.3 |  |  | $ | 47.4 |  |  | $ | 37.2 |
Tax benefit |  | 2.4 |  |  | 6.7 |  |  | 4.6 |
Schedule of Information Related to Stock Options | The following table summarizes information related to stock options:
|  | Number of options (in thousands) |  | Weighted average exercise price |  | Weighted average remaining contractual life (in years) |  | Aggregate intrinsic value (in millions)
Outstanding at December 31, 2022 |  | 141.1 |  |  | $ | 73.96 |  |  | 3.42 |  | $ | 15.1 |
Granted |  | 63.0 |  |  | 190.54 |  |  |  |  |
Outstanding at December 30, 2023 |  | 204.1 |  |  | $ | 109.92 |  |  | 4.36 |  | $ | 18.7 |
Options vested and expected to vest at December 30, 2023 |  | 192.6 |  |  | 105.10 |  |  | 4.36 |  | 18.7 |
Options exercisable at December 30, 2023 |  | 141.1 |  |  | $ | 73.96 |  |  | 2.42 |  | $ | 18.1 |
Schedule of Information Related to Awarded PUs | The following table summarizes information related to awarded PUs:
|  | Number of PUs (in thousands) |  | Weighted average grant-date fair value
Unvested at December 31, 2022 |  | 372.7 |  |  | $ | 147.45 |
Granted at target |  | 85.0 |  |  | 180.12 |
Adjustment for above-target performance(1) |  | 58.2 |  |  | 112.51 |
Vested |  | (201.9) |  |  | 112.51 |
Forfeited/cancelled |  | (13.3) |  |  | 174.50 |
Unvested at December 30, 2023 |  | 300.7 |  |  | $ | 174.54 |
(1)Reflects adjustments for the vesting of PUs based on above-target performance for the 2020-2022 performance period.
Schedule of Information Related to Awarded MSUs | The following table summarizes information related to awarded MSUs:
|  | Number of MSUs (in thousands) |  | Weighted average grant- date fair value
Unvested at December 31, 2022 |  | 208.5 |  |  | $ | 145.86 |
Granted at target |  | 82.3 |  |  | 192.53 |
Adjustments for above-target performance(1) |  | 35.9 |  |  | 125.18 |
Vested |  | (118.9) |  |  | 135.77 |
Forfeited/cancelled |  | (12.3) |  |  | 166.45 |
Unvested at December 30, 2023 |  | 195.5 |  |  | $ | 167.16 |
(1)Reflects adjustments for the vesting of MSUs based on above-target performance for each of the tranches of awards vesting in 2023.
Schedule of Information Related to Awarded RSUs | The following table summarizes information related to awarded RSUs:
|  | Number of RSUs (in thousands) |  | Weighted average grant-date fair value
Unvested at December 31, 2022 |  | 59.8 |  |  | $ | 159.23 |
Granted |  | 38.1 |  |  | 175.88 |
Vested |  | (18.1) |  |  | 148.26 |
Forfeited/cancelled |  | (13.3) |  |  | 159.43 |
Unvested at December 30, 2023 |  | 66.5 |  |  | $ | 171.68 |

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