XML 64 R43.htm IDEA: XBRL DOCUMENT v3.5.0.2
SHARE-BASED PAYMENTS (Tables)
 12 Months Ended
May 29, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Weighted average Black-Scholes assumptions for stock options granted
The fair value of each option is estimated on the date of grant using a Black-Scholes option-pricing model with the following weighted average assumptions for stock options granted:
 
2016
 
2015
 
2014
Expected volatility (%)
17.88
 
17.45
 
21.13
Dividend yield (%)
2.74
 
3.10
 
3.24
Risk-free interest rates (%)
1.60
 
1.58
 
1.37
Expected life of stock option (years)
4.96
 
4.92
 
4.91
Summary of the option activity
A summary of the option activity as of May 29, 2016 and changes during the fiscal year then ended is presented below:
Options
Number
of Options
(in Millions)
 
Weighted
Average
Exercise
Price
 
Average
Remaining
Contractual
Term
(Years)
 
Aggregate
Intrinsic
Value (in
Millions)
Outstanding at May 31, 2015
15.5

 
$
28.28

 
 
 
 
Granted
1.6

 
$
43.14

 
 
 
 
Exercised
(8.8
)
 
$
24.19

 
 
 
$
165.6

Forfeited
(1.2
)
 
$
35.63

 
 
 
 
Expired
—

 
$
—

 
 
 
 
Outstanding at May 29, 2016
7.1

 
$
33.11

 
6.73
 
$
234.1

Exercisable at May 29, 2016
4.0

 
$
30.21

 
5.47
 
$
119.9
Changes in nonvested share units
The following table summarizes the nonvested share units as of May 29, 2016 and changes during the fiscal year then ended:
 
Stock-settled
 
Cash-settled
Share Units
Share Units
(in millions)
 
Weighted
Average
Grant-Date
Fair Value
 
Share Units
(in millions)
 
Weighted
Average
Grant-Date
Fair Value
Nonvested share units at May 31, 2015
2.16

 
$
31.20

 
2.17

 
$
30.74

Granted
1.04

 
$
43.64

 
0.79

 
$
44.48

Vested/Issued
(1.12
)
 
$
29.29

 
(1.02
)
 
$
28.25

Forfeited
(0.54
)
 
$
37.74

 
(0.48
)
 
$
37.98

Nonvested share units at May 29, 2016
1.54

 
$
38.67

 
1.46

 
$
37.53
Summary of the activity for performance share awards
A summary of the activity for performance share awards as of May 29, 2016 and changes during the fiscal year then ended is presented below:
Performance Shares
Shares
(in  Millions)
 
Weighted
Average
Grant-Date
Fair Value
Nonvested performance shares at May 31, 2015
1.06

 
$
29.74

Granted
0.27

 
$
41.70

Adjustments for performance results attained and dividend equivalents
(0.11
)
 
$
24.94

Vested/Issued
(0.29
)
 
$
24.92

Forfeited
(0.18
)
 
$
33.62

Nonvested performance shares at May 29, 2016
0.75

 
$
36.09