XML 95 R37.htm IDEA: XBRL DOCUMENT v3.19.3
Employee Stock and Benefit Plans (Tables)
 12 Months Ended
Sep. 29, 2019
Share-based Payment Arrangement [Abstract]  
Stock-Based Compensation Expense Recognized in the Consolidated Financial Statements
Stock-based compensation expense recognized in the consolidated financial statements (in millions):
Fiscal Year Ended
Sep 29, 2019
 
Sep 30, 2018
 
Oct 1, 2017
Options
$
20.0

 
$
28.0

 
$
44.3

RSUs
288.0

 
222.3

 
131.7

Total stock-based compensation expense recognized in the consolidated statements of earnings
$
308.0

 
$
250.3

 
$
176.0

Total related tax benefit
$
59.3

 
$
62.4

 
$
57.6

Total capitalized stock-based compensation included in net property, plant and equipment and inventories on the consolidated balance sheets
$
3.4

 
$
3.5

 
$
1.9
Employee Stock Options Granted During the Period, Valuation Assumptions
The fair value of stock option awards was estimated at the grant date with the following weighted average assumptions for fiscal 2019, 2018 and 2017:
 
Employee Stock Options
Granted During the Period
Fiscal Year Ended
2019
 
2018
 
2017
Expected term (in years)
4.1

 
3.6

 
3.9

Expected stock price volatility
21.6
%
 
20.5
%
 
21.6
%
Risk-free interest rate
2.9
%
 
2.1
%
 
1.5
%
Expected dividend yield
2.1
%
 
2.2
%
 
1.8
%
Weighted average grant price
$
67.33

 
$
56.56

 
$
56.12

Estimated fair value per option granted
$
11.06

 
$
7.32

 
$
8.56
Stock Option Transactions
Stock option transactions for the year ended September 29, 2019 (in millions, except per share and contractual life amounts):
 
Shares
Subject to
Options
 
Weighted
Average
Exercise
Price
per Share
 
Weighted
Average
Remaining
Contractual
Life (Years)
 
Aggregate
Intrinsic
Value
Outstanding, September 30, 2018
27.3

 
$
42.13

 
5.2
 
$
418

Granted
0.5

 
67.33

 
 
 
 
Exercised
(11.6
)
 
32.46

 
 
 
 
Expired/forfeited
(1.0
)
 
56.13

 
 
 
 
Outstanding, September 29, 2019
15.2

 
49.45

 
5.0
 
592

Exercisable, September 29, 2019
10.2

 
45.38

 
3.7
 
440

Vested and expected to vest, September 29, 2019
14.9

 
49.33

 
5.0
 
583
RSU Transactions
RSU transactions for the year ended September 29, 2019 (in millions, except per share and contractual life amounts):
 
Number
of
Shares
 
Weighted
Average
Grant Date
Fair Value
per Share
 
Weighted
Average
Remaining
Contractual
Life (Years)
 
Aggregate
Intrinsic
Value
Nonvested, September 30, 2018
11.2

 
$
55.62

 
1.0
 
$
636

Granted
4.6

 
68.14

 
 
 
 
Vested
(4.6
)
 
55.71

 
 
 
 
Forfeited/canceled
(2.3
)
 
59.88

 
 
 
 
Nonvested, September 29, 2019
8.9

 
62.56

 
1.1
 
788