XML 55 R11.htm IDEA: XBRL DOCUMENT
v2.4.0.6

STOCKHOLDERS' EQUITY AND BENEFIT PLANS | 9 Months Ended
--- | ---
Sep. 29, 2012
STOCKHOLDERS' EQUITY AND BENEFIT PLANS |
STOCKHOLDERS' EQUITY AND BENEFIT PLANS |
6. STOCKHOLDERS’ EQUITY AND BENEFIT PLANS Common Stock Repurchase Programs. Purchases of the Company’s common stock are made from time to time, subject to market conditions and at prevailing market prices, through the open market. Repurchased shares of common stock are recorded at cost and become authorized but unissued shares which may be issued in the future for general corporate and other purposes. The Company may terminate or limit its stock repurchase program at any time. In the event the repurchased shares are cancelled, the Company accounts for retirements by allocating the repurchase price to common stock, additional paid-in capital and retained earnings. The repurchase price allocation is based upon the equity contribution associated with historical issuances. These repurchase programs were conducted pursuant to Rule 10b-18 of the Exchange Act. During the period from the announcement of the Company’s $750 million buyback authorization in August 2010 until the end of the Third Quarter, the Company has repurchased approximately $646.4 million of its common stock, representing approximately 8.5 million shares. During the Year To Date Period, the Company effectively retired 8.5 million shares of common stock repurchased under its repurchase programs during fiscal years 2010, 2011 and 2012. The effective retirement of common stock repurchased decreased common stock by $85,000, additional paid-in capital by $49.3 million, retained earnings by $597.7 million and treasury stock by $647.0 million. The following table reflects the Company’s common stock repurchase activity for the periods indicated (in millions):
|  |  |  |  |  | For the 13 Weeks Ended September 29, 2012 |  | For the 39 Weeks Ended September 29, 2012 |
Fiscal Year Authorized |  | Dollar Value Authorized |  | Termination Date |  | Number of Shares Repurchased |  | Dollar Value Repurchased |  | Number of Shares Repurchased |  | Dollar Value Repurchased |
2010 |  | $ | 30.0 |  | None |  | 0.0 |  | $ | 0.0 |  | 0.0 |  | $ | 0.0 |
2010 |  | $ | 750.0 |  | December 2013 |  | 1.0 |  | $ | 78.2 |  | 2.3 |  | $ | 196.3 |
Stock-Based Compensation Plans. The Company accounts for stock-based compensation in accordance with the provisions of ASC 718, Compensation-Stock Compensation (“ASC 718”), using the Black-Scholes option pricing model to determine the fair value of stock options and stock appreciation rights at the date of grant. The Company’s current stock-based compensation plans include: (i) stock options and restricted stock for its international employees, (ii) stock options and restricted stock units for its non-employee directors and (iii) stock appreciation rights, restricted stock and restricted stock units for its U.S.-based employees. There have been no significant changes to the Company’s stock-based compensation plans since the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2011. The following table summarizes stock options and stock appreciation rights activity during the Third Quarter:
Stock Options and Stock Appreciation Rights |  | Shares |  | Weighted- Average Exercise Price |  | Weighted- Average Remaining Contractual Term (Years) |  | Aggregate Intrinsic Value |
|  | IN THOUSANDS |  |  |  |  |  | IN THOUSANDS |
Outstanding at June 30, 2012 |  | 1,201 |  | $ | 61.81 |  | 6.3 |  | $ | 34,152 |
Granted |  | 3 |  | 67.10 |  |  |  |  |
Exercised |  | (54 | ) | 23.92 |  |  |  | 3,599 |
Forfeited or expired |  | (35 | ) | 116.63 |  |  |  |  |
Outstanding at September 29, 2012 |  | 1,115 |  | 61.92 |  | 6.5 |  | 37,158 |
Exercisable at September 29, 2012 |  | 466 |  | 34.00 |  | 4.8 |  | 23,844 |
Nonvested at September 29, 2012 |  | 649 |  | 81.95 |  | 7.7 |  | 13,314 |
Expected to vest |  | 585 |  | $ | 81.95 |  | 7.7 |  | $ | 12,126 |
The aggregate intrinsic value in the table above is before income taxes and is based on (i) the exercise price for outstanding and exercisable options/rights at September 29, 2012 and (ii) the fair market value of the Company’s common stock on the exercise date for options/rights that were exercised during the Third Quarter. Stock Options and Stock Appreciation Rights Outstanding and Exercisable. The following table summarizes information with respect to stock options and stock appreciation rights outstanding and exercisable at September 29, 2012:
Stock Options and Stock Appreciation Rights Outstanding |  | Stock Options and Stock Appreciation Rights Exercisable |
|  |  |  |  |  | Weighted- |  |  |  |  |
|  |  |  | Weighted- |  | Average |  |  |  | Weighted- |
|  |  |  | Average |  | Remaining |  |  |  | Average |
|  | Number of |  | Exercise |  | Contractual |  | Number of |  | Exercise |
Range of Exercise Prices |  | Shares |  | Price |  | Term (Years) |  | Shares |  | Price |
|  | IN THOUSANDS |  |  |  |  |  | IN THOUSANDS |  |  |
$11.66 - $13.15 |  | 11 |  | $ | 11.71 |  | 0.4 |  | 11 |  | $ | 11.71 |
$13.15 - $26.29 |  | 295 |  | 18.39 |  | 4.2 |  | 207 |  | 20.36 |
$26.29 - $39.44 |  | 292 |  | 34.62 |  | 5.6 |  | 162 |  | 33.78 |
$39.44 - $52.58 |  | 32 |  | 43.12 |  | 5.2 |  | 32 |  | 43.12 |
$65.73 - $78.88 |  | 7 |  | 68.59 |  | 8.9 |  | 1 |  | 69.53 |
$78.88 - $92.02 |  | 202 |  | 81.23 |  | 8.0 |  | 46 |  | 81.23 |
$92.02 - $105.17 |  | 6 |  | 93.29 |  | 8.5 |  | 2 |  | 93.29 |
$118.31 - $131.46 |  | 270 |  | 128.02 |  | 9.0 |  | 5 |  | 128.29 |
Total |  | 1,115 |  | $ | 61.92 |  | 6.5 |  | 466 |  | $ | 34.00 |
Restricted Stock and Restricted Stock Units. The following table summarizes restricted stock and restricted stock unit activity during the Third Quarter:
|  |  |  | Weighted-Average |
Restricted Stock and Restricted Stock Units |  | Number of Shares |  | Grant-Date Fair Value |
|  | IN THOUSANDS |  |  |
Nonvested at June 30, 2012 |  | 275 |  | $ | 68.19 |
Granted |  | 4 |  | 67.10 |
Vested |  | (5 | ) | 70.91 |
Forfeited |  | (1 | ) | 49.91 |
Nonvested at September 29, 2012 |  | 273 |  | 68.24 |
Expected to vest |  | 246 |  | $ | 68.24 |
The total fair value of restricted stock and restricted stock units vested during the Third Quarter was approximately $0.4 million.

X
- Definition The entire disclosure for accounts comprising shareholders' equity, comprised of portions attributable to the parent entity and noncontrolling interest, if any, including other comprehensive income (as applicable). Also includes disclosure of compensation-related costs for equity-based compensation which may include disclosure of policies, compensation plan details, allocation of equity compensation, incentive distributions, equity-based arrangements to obtain goods and services, deferred compensation arrangements, employee stock ownership plan details, and employee stock purchase plan details. + References No definition available. + Details
Name: | us-gaap_ShareholdersEquityAndShareBasedPaymentsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Details
Name: | us-gaap_StockholdersEquityNoteAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration