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Stock Transactions And Stock-Based Compensation (Tables)
 3 Months Ended
Apr. 01, 2016
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 three month period ended April 1, 2016:
Risk-free interest rate
1.3% - 1.6%

Weighted average volatility
24.6
%
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 continuing operations stock-based compensation expense ($ in millions):
 
Three Month Period Ended
 
April 1, 2016
 
April 3, 2015
Restricted Stock Units (“RSUs”)/Performance Stock Units (“PSUs”):
 
 
 
Pretax compensation expense
$
27.0

 
$
18.8

Income tax benefit
(8.0
)
 
(5.7
)
RSU/PSU expense, net of income taxes
19.0

 
13.1

Stock options:
 
 
 
Pretax compensation expense
14.1

 
11.5

Income tax benefit
(4.5
)
 
(3.5
)
Stock option expense, net of income taxes
9.6

 
8.0

Total stock-based compensation:
 
 
 
Pretax compensation expense
41.1

 
30.3

Income tax benefit
(12.5
)
 
(9.2
)
Total stock-based compensation expense, net of income taxes
$
28.6

 
$
21.1
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, 2015
20.1

 
$
57.84

 
 
 
 
Granted
3.7

 
87.20

 
 
 
 
Exercised
(1.4
)
 
42.38

 
 
 
 
Cancelled/forfeited
(0.7
)
 
74.40

 
 
 
 
Outstanding as of April 1, 2016
21.7

 
$
63.27

 
7
 
$
704.5

Vested and expected to vest as of April 1, 2016 (a)
20.9

 
$
62.46

 
6
 
$
693.8

Vested as of April 1, 2016
10.1

 
$
44.94

 
4
 
$
511.5

(a) 
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, 2015
4.9

 
$
73.31

Granted
1.2

 
85.24

Vested
(0.8
)
 
62.44

Forfeited
(0.3
)
 
67.21

Unvested as of April 1, 2016
5.0

 
78.09