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Share-Based Compensation (Tables)

9 Months Ended

Sep. 30, 2020

Share-based Payment Arrangement [Abstract]

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 year	15,416	$	56.36
Granted	3	72.36
Exercised	(4,009)	50.67
Forfeited and expired	(228)	61.32
Outstanding as of September 30, 2020	11,182	58.31		$	156,372	5.70

Exercisable as of September 30, 2020	7,248	$	56.87	$	111,738	4.85

Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions

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

Schedule of Share-based Compensation, Restricted Stock Activity

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 Shares	Weighted-Average Grant Date Fair Value Per Share

Outstanding at beginning of year	2,634	$	65.30
Granted	2,520	69.99
Vested	(946)	66.30
Forfeited	(97)	67.24

Outstanding as of September 30, 2020	4,111	$	67.90

Compensation Expense Recognized In The Condensed Consolidated Statements Of Operations

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 Ended				Nine Months Ended
(In thousands)	2020		2019		2020		2019

Stock option and non-vested share and share unit compensation expense	$	37,920	$	30,537	$	110,500	$	73,421
Associate stock purchase plan expense	1,367		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

Schedule of Accumulated Other Comprehensive Income (Loss)

The components of AOCI, net of tax, were as follows:


	Foreign currency translation adjustment and other		Unrealized loss on cash flow hedge		Unrealized holding gain (loss) on available-for-sale investments		Total
(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 reclassifications	9,197		(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 reclassifications	9,611		(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 other		Unrealized loss on cash flow hedge		Unrealized holding gain (loss) on available-for-sale investments		Total
(In thousands)

Balance at December 29, 2018	$	(102,939)	$	—	$	(613)	$	(103,552)
Other comprehensive income (loss) before reclassifications	2,321		—		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)

Reclassification out of Accumulated Other Comprehensive Income

The effects on net earnings of amounts reclassified from AOCI were as follows:


(In thousands)		Three Months Ended				Nine Months Ended
AOCI Component	Location	2020		2019		2020		2019

Unrealized loss on cash flow hedge	Other income, net	$	(3,213)	$	(122)	$	(7,383)	$	58
	Income taxes	659		24		1,509		(9)

	Net of tax	(2,554)		(98)		(5,874)		49

Unrealized holding gain (loss) on available-for-sale investments	Other 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