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Stock Transactions And Stock-Based Compensation (Tables)
 6 Months Ended
Jul. 03, 2015
Share-based Compensation [Abstract]  
Assumptions Used In The Black-Scholes Model To Value Options Granted
The following summarizes the assumptions used in the Black-Scholes Merton option pricing model ("Black-Scholes") to value options granted during the six months ended July 3, 2015:
Risk-free interest rate
1.6% - 1.9%

Weighted average volatility
23.2
%
Dividend yield
0.6
%
Expected years until exercise
5.5 - 8.0
Components Of Stock-Based Compensation Program
The following summarizes the components of the Company’s stock-based compensation expense ($ in millions):
 
Three Months Ended
 
Six Months Ended
 
July 3, 2015
 
June 27, 2014
 
July 3, 2015
 
June 27, 2014
RSUs/PSUs:
 
 
 
 
 
 
 
Pre-tax compensation expense
$
18.7

 
$
15.9

 
$
38.1

 
$
33.8

Income tax benefit
(6.5
)
 
(4.4
)
 
(12.4
)
 
(9.6
)
RSU/PSU expense, net of income taxes
12.2

 
11.5

 
25.7

 
24.2

Stock options:
 
 
 
 
 
 
 
Pre-tax compensation expense
10.7

 
10.1

 
22.7

 
21.2

Income tax benefit
(3.7
)
 
(2.9
)
 
(7.3
)
 
(6.3
)
Stock option expense, net of income taxes
7.0

 
7.2

 
15.4

 
14.9

Total stock-based compensation:
 
 
 
 
 
 
 
Pre-tax compensation expense
29.4

 
26.0

 
60.8

 
55.0

Income tax benefit
(10.2
)
 
(7.3
)
 
(19.7
)
 
(15.9
)
Total stock-based compensation expense, net of income taxes
$
19.2

 
$
18.7

 
$
41.1

 
$
39.1
Option Activity Under The Company's Stock Plans
The following summarizes option activity under the Company’s stock plans (in millions, except weighted exercise price and number of years):
 
Options
 
Weighted
Average
Exercise
Price
 
Weighted Average
Remaining
Contractual Term
(in years)
 
Aggregate
Intrinsic
Value
Outstanding as of December 31, 2014
24.3

 
$
48.92

 
 
 
 
Granted
1.3

 
86.99

 
 
 
 
Exercised
(3.1
)
 
34.44

 
 
 
 
Cancelled/forfeited
(0.8
)
 
61.49

 
 
 
 
Outstanding as of July 3, 2015
21.7

 
$
52.82

 
6
 
$
738.4

Vested and expected to vest as of July 3, 2015 (1)
20.6

 
$
52.00

 
6
 
$
717.6

Vested as of July 3, 2015
11.3

 
$
39.78

 
4
 
$
533.1

(1) The “Expected to vest” options are the net unvested options that remain after applying the forfeiture rate assumption to total unvested options.
RSU and PSU Activity
The following summarizes information on unvested RSU and PSU activity (in millions, except weighted average grant-date fair value):
 
Number of RSUs/PSUs
 
Weighted Average
Grant-Date  Fair Value
Unvested as of December 31, 2014
4.9

 
$
61.64

Granted
0.5

 
85.24

Vested
(0.7
)
 
57.38

Forfeited
(0.3
)
 
65.70

Unvested as of July 3, 2015
4.4

 
$
64.61