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Stock-Based Compensation (Tables) | 12 Months Ended
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Dec. 29, 2012
Stock-Based Compensation [Abstract] |
Weighted average assumptions used in calculating fair value of stock options | The Company estimates the fair value of all stock option awards as of the grant date by applying the Black-Scholes-Merton option pricing model. The use of this valuation model in the determination of compensation expense involves certain assumptions that are judgmental and/or highly sensitive including the expected life of the option, stock price volatility, risk-free interest rate, and dividend yield. Additionally, forfeitures are estimated at the time of valuation and reduce expense ratably over the vesting period. The forfeiture rate, which was estimated at 16.5 percent for 2012 and 17.0 percent for 2011 and 2010, is adjusted periodically based on actual forfeitures. The weighted average of key assumptions used in determining the fair value of options granted and a discussion of the methodology used to develop each assumption are as follows:
|  | 2012 |  |  | 2011 |  |  | 2010 |
Expected term |  | 6.5 years |  |  | 6.3 years |  |  | 6.3 years |
Expected price volatility |  |  | 0.375 |  |  |  | 0.358 |  |  |  | 0.353 |
Risk-free interest rate |  |  | 0.7% |  |  |  | 1.7% |  |  |  | 2.4% |
Dividend yield |  |  | 0.9% |  |  |  | 1.1% |  |  |  | 1.6% |
Summary of the stock option activity | The Company generally issues treasury shares when options are exercised. A summary of the stock option activity and related information follows:
(Shares in thousands) |  | Options |  |  | Weighted Average Exercise Price |
Outstanding at December 26, 2009 |  |  | 1,604 |  |  | $ | 27.56 |
Granted |  |  | 233 |  |  |  | 24.70 |
Exercised |  |  | (148 | ) |  |  | 19.26 |
Expired |  |  | (24 | ) |  |  | 30.78 |
Outstanding at December 25, 2010 |  |  | 1,665 |  |  |  | 27.85 |
Granted |  |  | 31 |  |  |  | 37.54 |
Exercised |  |  | (464 | ) |  |  | 27.91 |
Outstanding at December 31, 2011 |  |  | 1,232 |  |  |  | 28.07 |
Granted |  |  | 46 |  |  |  | 43.58 |
Exercised |  |  | (575 | ) |  |  | 28.29 |
Canceled |  |  | (9 | ) |  |  | 27.01 |
Outstanding at December 29, 2012 |  |  | 694 |  |  |  | 28.93 |

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- Definition Tabular disclosure of the number and weighted-average exercise prices (or conversion ratios) for share options (or share units) that were outstanding at the beginning and end of the year, vested and expected to vest, exercisable or convertible at the end of the year, and the number of share options or share units 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=6415400&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=6415400&loc=d3e5070-113901 + Details
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