Stock-Based Compensation (Tables)

9 Months Ended

Jul. 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 nine-month periods ended July 29, 2017 and July 30, 2016 are as follows:

	Three Months Ended						Nine Months Ended
Stock Options	July 29, 2017			July 30, 2016			July 29, 2017			July 30, 2016
Options granted (in thousands)	98			23			1,474			1,738
Weighted-average exercise price		$79.85			$56.20			$82.97			$54.92
Weighted-average grant-date fair value		$15.75			$10.86			$17.12			$12.77
Assumptions:
Weighted-average expected volatility	26.2		%	29.1		%	26.4		%	34.2		%
Weighted-average expected term (in years)	5.0			5.1			5.1			5.1
Weighted-average risk-free interest rate	1.8		%	1.2		%	2.1		%	1.4		%
Weighted-average expected dividend yield	2.3		%	3.0		%	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 nine-month periods ended July 29, 2017 and July 30, 2016 using the Monte Carlo simulation model are as follows:

	Nine Months Ended			Nine Months Ended
Market-based Restricted Stock Units	July 29, 2017			July 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 July 29, 2017 and changes during the three- and nine-month periods then ended is presented below:

Activity during the Three Months Ended July 29, 2017	Restricted Stock Units/Awards Outstanding (in thousands)		Weighted- Average Grant- Date Fair Value Per Share
Restricted stock units/awards outstanding at April 29, 2017	5,313			$70.59
Units/Awards granted	644			$75.59
Restrictions lapsed	(311	)		$79.14
Forfeited	(55	)		$70.94
Restricted stock units/awards outstanding at July 29, 2017	5,591			$70.69

Activity during the Nine Months Ended July 29, 2017	Restricted Stock Units/Awards 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)	4,307			$79.55
Restrictions lapsed	(1,241	)		$58.44
Forfeited	(165	)		$58.71
Restricted stock units/awards outstanding at July 29, 2017	5,591			$70.69

(a) includes replacement awards for 2.8 million shares of the Company's common stock that were granted to certain Linear employees to replace outstanding Linear equity awards.

Summary of the activity under the Company's stock option plans

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

Activity during the Three Months Ended July 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 April 29, 2017	10,530			$50.49
Options granted	98			$79.85
Options exercised	(456	)		$39.42
Options forfeited	(59	)		$59.68
Options expired	(1	)		$48.94
Options outstanding at July 29, 2017	10,112			$51.22	6.3		$288,944
Options exercisable at July 29, 2017	5,602			$41.47	4.7		$211,596
Options vested or expected to vest at July 29, 2017 (1)	9,725			$50.59	6.2		$283,617

(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 Nine Months Ended July 29, 2017	Options Outstanding (in thousands)		Weighted- Average Exercise Price Per Share
Options outstanding at October 29, 2016	11,704			$44.43
Options granted	1,474			$82.97
Options exercised	(2,724	)		$38.81
Options forfeited	(335	)		$54.71
Options expired	(7	)		$34.10
Options outstanding at July 29, 2017	10,112			$51.22