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Stock-Based Compensation (Tables) | 12 Months Ended
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Dec. 28, 2024
Share-Based Payment Arrangement [Abstract] |
Stock-Based Compensation Expense | Stock-based compensation expense was as follows:
(In millions) |  | 2024 |  |  |  | 2023 |  |  |  | 2022 |
Restricted stock units |  | $ | 21.7 |  |  |  | $ | 22.1 |  |  |  | $ | 16.6 |
Stock option awards |  |  | 6.0 |  |  |  |  | 5.3 |  |  |  |  | 6.6 |
Performance awards |  |  | 11.8 |  |  |  |  | 6.1 |  |  |  |  | 15.6 |
Director awards |  |  | 1.4 |  |  |  |  | 1.7 |  |  |  |  | 1.3 |
Total pre-tax expense |  |  | 40.9 |  |  |  |  | 35.2 |  |  |  |  | 40.1 |
Tax benefit |  |  | 5.5 |  |  |  |  | 7.9 |  |  |  |  | 9.2 |
Total after tax expense |  | $ | 35.4 |  |  |  | $ | 27.3 |  |  |  | $ | 30.9 |
RSU Activity | A summary of activity with respect to RSUs outstanding under the Plans for the year ended December 28, 2024 was as follows:
|  | Number of Restricted Stock Units |  |  | Weighted-Average Grant-Date Fair Value |
Outstanding at December 30, 2023 |  |  | 847,929 |  |  | $ | 70.93 |
Granted |  |  | 234,755 |  |  | $ | 79.21 |
Vested |  |  | (460,646 | ) |  | $ | 73.28 |
Forfeited |  |  | (37,150 | ) |  | $ | 70.36 |
Outstanding at December 28, 2024 |  |  | 584,888 |  |  | $ | 72.44 |
Black-Scholes Option Pricing Model Assumptions used to Estimate Fair Value of Options | The fair value of Fortune Brands options was estimated at the date of grant using a Black-Scholes option pricing model with the assumptions shown in the following table:
|  |  | 2024 |  |  |  | 2023 |  |  |  | 2022 |
Current expected dividend yield |  |  |  | 1.2 | % |  |  |  | 1.5 | % |  |  |  | 1.2 | %
Expected volatility |  |  |  | 32.4 | % |  |  |  | 34.8 | % |  |  |  | 34.8 | %
Risk-free interest rate |  |  |  | 4.3 | % |  |  |  | 4.2 | % |  |  |  | 2.3 | %
Expected term |  |  | 5.3 years |  |  |  | 5.4 years |  |  |  | 5.2 years |
Stock Option Activity | A summary of stock option activity for the year ended December 28, 2024 was as follows:
|  | Options |  |  | Weighted- Average Exercise Price |
Outstanding at December 30, 2023 |  |  | 2,204,029 |  |  | $ | 58.68 |
Granted |  |  | 242,443 |  |  | $ | 79.83 |
Exercised |  |  | (304,121 | ) |  | $ | 50.67 |
Expired/forfeited |  |  | (30,095 | ) |  | $ | 68.71 |
Outstanding at December 28, 2024 |  |  | 2,112,256 |  |  | $ | 62.11 |
Options Outstanding and Exercisable | Options outstanding and exercisable at December 28, 2024 were as follows:
|  | Options Outstanding (a) |  |  | Options Exercisable (b) |
Range Of Exercise Prices |  | Options Outstanding |  |  | Weighted- Average Remaining Contractual Life |  |  | Weighted- Average Exercise Price |  |  | Options Exercisable |  |  | Weighted- Average Exercise Price |
$20.00 to $100.00 |  |  | 2,112,256 |  |  |  | 5.73 |  |  | $ | 62.11 |  |  |  | 1,593,620 |  |  | $ | 59.26 |
(a) At December 28, 2024, the aggregate intrinsic value of options outstanding was $21.0 million. (b) At December 28, 2024, the weighted-average remaining contractual life of options exercisable was 4.8 years and the aggregate intrinsic value of options exercisable was $18.8 million.
Summarizes Information of Performance Share Awards | The following table summarizes information about PSAs as of December 28, 2024, as well as activity during the fiscal year then ended. The number of performance share awards granted are shown below at the target award amounts:
|  | Number of Performance Share Awards |  |  | Weighted-Average Grant-Date Fair Value |
Non-vested at December 30, 2023 |  |  | 210,804 |  |  | $ | 62.89 |
Granted |  |  | 171,477 |  |  | $ | 80.31 |
Vested |  |  | — |  |  | $ | — |
Forfeited |  |  | (13,058 | ) |  | $ | 76.77 |
Non-vested at December 28, 2024 |  |  | 369,223 |  |  | $ | 70.49 |

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- Definition Tabular disclosure of number, weighted-average exercise price or conversion ratio, aggregate intrinsic value, and weighted-average remaining contractual term for outstanding performance-based awards that are fully vested and expected to vest. Includes, but is not limited to, unvested awards for which requisite service period has not been rendered but that are expected to vest based on achievement of performance condition, if forfeitures are recognized when they occur. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 718 -SubTopic 10 -Subparagraph (e)(1) -Name Accounting Standards Codification -Paragraph 2 -Section 50 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 + Details
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- Definition Tabular disclosure of the number and weighted-average grant date fair value for restricted stock units that were outstanding at the beginning and end of the year, and the number of restricted stock units that were granted, vested, or forfeited during the year. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (c)(1) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 + Details
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- Definition Tabular disclosure of option exercise prices, by grouped ranges, including the upper and lower limits of the price range, the number of shares under option, weighted average exercise price and remaining contractual option terms. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 + 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://fasb.org/us-gaap/role/ref/legacyRef -Topic 718 -SubTopic 10 -Subparagraph (f)(2) -Name Accounting Standards Codification -Paragraph 2 -Section 50 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 + Details
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