XML 62 R43.htm IDEA: XBRL DOCUMENT v2.4.0.8
Share-Based Payments (Tables)
12 Months Ended
Dec. 31, 2013
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Schedule of components of share-based compensation expense
The following table summarizes share-based compensation expense:
 
For the years ended
 
December 31, 2013
 
December 29, 2012
 
December 31, 2011
 
(In millions)
Pretax compensation expense
$
19.5

 
$
14.0

 
$
24.6

Tax benefit
(5.6
)
 
(4.2
)
 
(6.8
)
After-tax compensation expense
$
13.9

 
$
9.8

 
$
17.8

Schedule of non-vested RSUs, PUs and DSUs outstanding and the activity for the period
The following table represents non-vested RSUs, DSUs, PSUs and PUs as of December 31, 2013, and the activity during 2013:
 
RSUs and DSUs
 
PUs
 
PSUs
 
Units
 
Weighted-average
grant date fair value per unit
 
Units
 
Weighted-average
grant date fair value per unit
 
Units
 
Weighted-average grant date fair value per unit
 
(In millions, except per share amounts)
Non-vested as of December 29, 2012
0.7
 
$43.06
 
1.7
 
$10.90
 
 
$—
Granted
0.3
 
$42.94
 
 
$—
 
0.2
 
$43.10
Vested
(0.2)
 
$42.96
 
(0.6)
 
$11.61
 
 
$—
Forfeited
(0.1)
 
$41.81
 
(0.1)
 
$3.58
 
 
$—
Non-vested as of December 31, 2013
0.7
 
$42.08
 
1.0
 
$2.87
 
0.2
 
$43.10
Schedule of share-based compensation weighted average assumptions
The fair value of each option granted in 2013, 2012 and 2011 was determined on the date of grant using the Black-Scholes option-pricing model with the following weighted-average assumptions:
 
For the years ended
 
December 31, 2013
 
December 29, 2012
 
December 31, 2011
Risk-free interest rate
1.43%
 
1.50%
 
2.57%
Dividend yield
2.88%
 
2.99%
 
2.57%
Volatility range
22.4% - 25.9%
 
25.8% - 27.6%
 
25.3% - 29.4%
Weighted-average volatility
25.02%
 
25.86%
 
26.29%
Expected term (years)
7.7
 
4.0 - 7.7
 
4.0 - 7.7
Weighted-average fair value
$8.39
 
$8.09
 
$9.60
Schedule of stock options and SOSARs outstanding and the activity for the period
The following table represents the summary of options and SOSARs outstanding as of December 31, 2013, and the activity during 2013.
 
Shares outstanding
 
Shares exercisable at year end
 
Shares
 
Weighted-
average
exercise price
 
Weighted-
average
remaining
contractual
life (years)
 
Aggregate
intrinsic
value
 
Shares
 
Weighted-
average
exercise price
 
Weighted-
average
remaining
contractual
life (years)
 
Aggregate
intrinsic
value
 
(In millions, except per share amounts and years)
Outstanding as of December 29, 2012
6.0
 
$40.55
 
4.05
 
$
23.2

 
5.2
 
$40.07
 
3.38
 
$
23.1

Granted
0.2
 
$45.22
 
 
 
 

 
 
 
 
 
 
 
 

Exercised
(2.7)
 
$37.11
 
 
 
 

 
 
 
 
 
 
 
 

Forfeited
 

 
 
 
 

 
 
 
 
 
 
 
 

Outstanding as of December 31, 2013
3.5
 
$43.41
 
4.57
 
$
45.1

 
2.9
 
$43.26
 
3.86
 
$
38.4