Share Plans (Tables)

3 Months Ended

Dec. 25, 2020

Share Plans

Share-based compensation expense

	For the
	Quarters Ended
	December 25,		December 27,
	2020		2019
	(in millions)
Share-based compensation expense	$	19	$	22

Summary of share-based award activity

During the quarter ended December 25, 2020, we granted the following share-based awards as part of our annual incentive plan grant:

		Grant-Date
	Shares	Fair Value
	(in millions)
Share options	1.3	$	22.03
Restricted share awards	0.4		105.86
Performance share awards	0.2		105.86

Weighted-average assumptions

The assumptions we used in the Black-Scholes-Merton option pricing model for the options granted as part of our annual incentive plan grant were as follows:

Expected share price volatility		28	%
Risk-free interest rate		0.5	%
Expected annual dividend per share	$	1.92
Expected life of options (in years)		5.4