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Share-Based Compensation
 9 Months Ended
Sep. 30, 2020
Share-based Payment Arrangement [Abstract]  
Shareholders' Equity and Share-based Payments Share-Based Compensation and Equity
Stock Options

Stock option activity for the nine months ended September 30, 2020 was as follows:
(In thousands, except per share and term data)Number of
Shares		Weighted-
Average
Exercise 
Price
(Per Share)		Aggregate
Intrinsic 
Value		Weighted-Average 
Remaining
Contractual
Term (Yrs)
Outstanding at beginning of year15,416 $56.36 
Granted3 72.36 
Exercised(4,009)50.67 
Forfeited and expired(228)61.32 
Outstanding as of September 30, 202011,182 58.31 $156,372 5.70
Exercisable as of September 30, 20207,248 $56.87 $111,738 4.85

The weighted-average assumptions used to estimate the fair value, under the Black-Scholes-Merton pricing model, of stock options granted during the nine months ended September 30, 2020 were as follows:

Expected volatility (%)24.5 %
Expected dividend rate (%)1 %
Expected term (yrs)6
Risk-free rate (%)1.1 %
Fair value per option$16.64 

As of September 30, 2020, there was $58 million of total unrecognized compensation cost related to stock options granted under all plans. That cost is expected to be recognized over a weighted-average period of 2.12 years.

Non-vested Shares and Share Units

Non-vested share and share unit activity for the nine months ended September 30, 2020 was as follows:
(In thousands, except per share data)Number of SharesWeighted-Average
Grant Date Fair Value Per Share
Outstanding at beginning of year2,634 $65.30 
Granted2,520 69.99 
Vested(946)66.30 
Forfeited(97)67.24 
Outstanding as of September 30, 20204,111 $67.90 

As of September 30, 2020, there was $223 million of total unrecognized compensation cost related to non-vested share and share unit awards granted under all plans. That cost is expected to be recognized over a weighted-average period of 1.96 years.
Share-Based Compensation Cost

The following table presents total compensation expense recognized with respect to stock options, non-vested shares and share units, and our associate stock purchase plan:
 Three Months EndedNine Months Ended
(In thousands)2020201920202019
Stock option and non-vested share and share unit compensation expense$37,920 $30,537 $110,500 $73,421 
Associate stock purchase plan expense1,367 1,321 4,195 4,612 
Amounts capitalized in software development costs, net of amortization
(1,150)(76)(2,971)70 
Amounts charged against earnings, before income tax benefit$38,137 $31,782 $111,724 $78,103 
Amount of related income tax benefit recognized in earnings$7,818 $6,330 $22,452 $14,888 

Treasury Stock

Under our current share repurchase program, which was initially approved by our Board of Directors in May 2017 and most recently amended in December 2019, the Company is authorized to repurchase up to $3.70 billion of shares of our common stock, excluding transaction costs. The repurchases are to be effectuated in the open market, by block purchase, in privately negotiated transactions, or through other transactions managed by broker-dealers. No time limit was set for the completion of the program. During the nine months ended September 30, 2020, we repurchased 9.2 million shares for total consideration of $650 million under the program. The shares were recorded as treasury stock and accounted for under the cost method. No repurchased shares have been retired. As of September 30, 2020, $1.03 billion remains available for repurchase under the program.

Dividends
On September 10, 2020, our Board of Directors declared a cash dividend of $0.18 per share on our issued and outstanding common stock, which was paid on October 13, 2020 to shareholders of record as of September 25, 2020. On May 21, 2020, our Board of Directors declared a cash dividend of $0.18 per share on our issued and outstanding common stock, which was paid on July 17, 2020 to shareholders of record as of June 5, 2020. On March 19, 2020, our Board of Directors declared a cash dividend of $0.18 per share on our issued and outstanding common stock, which was paid on April 17, 2020 to shareholders of record as of April 3, 2020. In connection with the declaration of such dividends, our non-vested shares and share units are entitled to dividend equivalents, which will be payable to the holder subject to, and upon vesting of, the underlying awards. Our outstanding stock options are not entitled to dividend or dividend equivalents. At both September 30, 2020 and December 28, 2019, our condensed consolidated balance sheets included liabilities for dividends payable of $56 million, which are included in "Other current liabilities".
Accumulated Other Comprehensive Loss, Net (AOCI)

The components of AOCI, net of tax, were as follows:
 Foreign currency translation adjustment and otherUnrealized loss on cash flow hedgeUnrealized holding gain (loss) on available-for-sale investmentsTotal
(In thousands)
Balance at December 28, 2019$(106,347)$(12,578)$265 $(118,660)
Other comprehensive income (loss) before reclassifications(20,546)(20,430)(849)(41,825)
Amounts reclassified from AOCI
— 1,122 — 1,122 
Balance at March 31, 2020
(126,893)(31,886)(584)(159,363)
Other comprehensive income (loss) before reclassifications9,197 (3,205)1,502 7,494 
Amounts reclassified from AOCI
— 2,198 — 2,198 
Balance at June 30, 2020(117,696)(32,893)918 (149,671)
Other comprehensive income (loss) before reclassifications9,611 (289)(220)9,102 
Amounts reclassified from AOCI— 2,554 — 2,554 
Balance at September 30, 2020$(108,085)$(30,628)$698 $(138,015)

Foreign currency translation adjustment and otherUnrealized loss on cash flow hedgeUnrealized holding gain (loss) on available-for-sale investmentsTotal
(In thousands)
Balance at December 29, 2018$(102,939)$— $(613)$(103,552)
Other comprehensive income (loss) before reclassifications2,321 — 637 2,958 
Amounts reclassified from AOCI— — — — 
Balance at March 30, 2019(100,618)— 24 (100,594)
Other comprehensive income (loss) before reclassifications(100)(12,223)216 (12,107)
Amounts reclassified from AOCI— (147)— (147)
Balance at June 29, 2019(100,718)(12,370)240 (112,848)
Other comprehensive income (loss) before reclassifications(11,679)(4,135)17 (15,797)
Amounts reclassified from AOCI— 98 (3)95 
Balance at September 28, 2019$(112,397)$(16,407)$254 $(128,550)
The effects on net earnings of amounts reclassified from AOCI were as follows:

(In thousands)Three Months EndedNine Months Ended
AOCI ComponentLocation2020201920202019
Unrealized loss on cash flow hedgeOther income, net$(3,213)$(122)$(7,383)$58 
Income taxes659 24 1,509 (9)
Net of tax(2,554)(98)(5,874)49 
Unrealized holding gain (loss) on available-for-sale investmentsOther income, net— 4 — 4 
Income taxes— (1)— (1)
Net of tax— 3 — 3 
Total amount reclassified, net of tax$(2,554)$(95)$(5,874)$52