Stock-Based Compensation (Tables)

6 Months Ended

Apr. 29, 2017

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Information pertaining to the Company's stock option awards and the related estimated weighted-average assumptions used to calculate the fair value of stock options granted

Information pertaining to the Company’s stock option awards and the related estimated weighted-average assumptions to calculate the fair value of stock options using the Black-Scholes valuation model granted during the three- and six-month periods ended April 29, 2017 and April 30, 2016 are as follows:

	Three Months Ended						Six Months Ended
Stock Options	April 29, 2017			April 30, 2016			April 29, 2017			April 30, 2016
Options granted (in thousands)	1,362			1,679			1,376			1,715
Weighted-average exercise price		$83.35			$54.90			$83.19			$54.90
Weighted-average grant-date fair value		$17.27			$12.81			$17.21			$12.79
Assumptions:
Weighted-average expected volatility	26.4%			34.3		%	26.4		%	34.3		%
Weighted-average expected term (in years)	5.1			5.1			5.1			5.1
Weighted-average risk-free interest rate	2.1		%	1.4		%	2.1		%	1.4		%
Weighted-average expected dividend yield	2.2		%	3.1		%	2.2		%	3.1		%

Summary of the Company's restricted stock unit award activity

Information pertaining to the market-based restricted stock units and the related estimated assumptions used to calculate the fair value of the market-based restricted stock units granted during the three- and six-month periods ended April 29, 2017 and April 30, 2016 using the Monte Carlo simulation model are as follows:

	Three and Six Months Ended			Three and Six Months Ended
Market-based Restricted Stock Units	April 29, 2017			April 30, 2016
Units granted (in thousands)	59			102
Grant-date fair value		$94.25			$58.95
Assumptions:
Historical stock price volatility	26.0		%	25.1		%
Risk-free interest rate	1.6		%	1.1		%
Expected dividend yield	2.2		%	3.0		%

A summary of the Company’s restricted stock unit/award activity as of April 29, 2017 and changes during the three- and six-month periods then ended is presented below:

Activity during the Three Months Ended April 29, 2017	Restricted Stock Units Outstanding (in thousands)		Weighted- Average Grant- Date Fair Value Per Share
Restricted stock units/awards outstanding at January 28, 2017	2,570			$50.31
Units/Awards granted (a)	3,658			$80.28
Restrictions lapsed	(822	)		$52.26
Forfeited	(93	)		$53.13
Restricted stock units/awards outstanding at April 29, 2017	5,313			$70.59

(a) includes 2.8 million replacement awards granted to certain Linear employees to replace outstanding Linear equity awards.

Activity during the Six Months Ended April 29, 2017	Restricted Stock Units Outstanding (in thousands)		Weighted- Average Grant- Date Fair Value Per Share
Restricted stock units/awards outstanding at October 29, 2016	2,690			$50.11
Units/Awards granted (a)	3,663			$80.25
Restrictions lapsed	(930	)		$51.55
Forfeited	(110	)		$52.63
Restricted stock units/awards outstanding at April 29, 2017	5,313			$70.59

(a) includes 2.8 million replacement awards granted to certain Linear employees to replace outstanding Linear equity awards.

Summary of the activity under the Company s stock option plans

Activity during the Six Months Ended April 29, 2017	Options Outstanding (in thousands)		Weighted- Average Exercise Price Per Share
Options outstanding at October 29, 2016	11,704			$44.43
Options granted	1,377			$83.19
Options exercised	(2,268	)		$38.69
Options forfeited	(277	)		$53.65
Options expired	(6	)		$33.19
Options outstanding at April 29, 2017	10,530			$50.49

A summary of the Company’s stock option activity as of April 29, 2017 and changes during the three- and six-month periods then ended is presented below:

Activity during the Three Months Ended April 29, 2017	Options Outstanding (in thousands)		Weighted- Average Exercise Price Per Share		Weighted- Average Remaining Contractual Term in Years	Aggregate Intrinsic Value
Options outstanding at January 28, 2017	10,704			$45.22
Options granted	1,362			$83.35
Options exercised	(1,300	)		$40.89
Options forfeited	(236	)		$53.93
Options outstanding at April 29, 2017	10,530			$50.49	6.4		$280,415
Options exercisable at April 29, 2017	6,016			$41.21	4.9		$210,535
Options vested or expected to vest at April 29, 2017 (1)	10,101			$49.82	6.3		$274,918

(1) In addition to the vested options, the Company expects a portion of the unvested options to vest at some point in the future. The number of options expected to vest is calculated by applying an estimated forfeiture rate to the unvested options.

Activity during the Six Months Ended April 29, 2017	Options Outstanding (in thousands)		Weighted- Average Exercise Price Per Share
Options outstanding at October 29, 2016	11,704			$44.43
Options granted	1,377			$83.19
Options exercised	(2,268	)		$38.69
Options forfeited	(277	)		$53.65
Options expired	(6	)		$33.19
Options outstanding at April 29, 2017	10,530			$50.49