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LONG-TERM INCENTIVE COMPENSATION (Tables)
12 Months Ended
Dec. 30, 2023
Share-Based Payment Arrangement [Abstract]  
Schedule of Stock-Based Compensation Expense and the Related Recognized Tax Benefit
Stock-based compensation expense and the related recognized tax benefit were as follows:
(In millions)202320222021
Stock-based compensation expense$22.3 $47.4 $37.2 
Tax benefit2.4 6.7 4.6 
Schedule of Information Related to Stock Options
The following table summarizes information related to stock options:
Number of
options
(in thousands)
Weighted average
exercise price
Weighted average
remaining
contractual life
(in years)
Aggregate
intrinsic value
(in millions)
Outstanding at December 31, 2022141.1 $73.96 3.42$15.1 
Granted
63.0 190.54 
Outstanding at December 30, 2023204.1 $109.92 4.36$18.7 
Options vested and expected to vest at December 30, 2023192.6 105.10 4.3618.7 
Options exercisable at December 30, 2023141.1 $73.96 2.42$18.1 
Schedule of Information Related to Awarded PUs
The following table summarizes information related to awarded PUs:
Number of
 PUs
(in thousands)
Weighted
 average
grant-date
 fair value
Unvested at December 31, 2022372.7 $147.45 
Granted at target85.0 180.12 
Adjustment for above-target performance(1)
58.2 112.51 
Vested(201.9)112.51 
Forfeited/cancelled(13.3)174.50 
Unvested at December 30, 2023300.7 $174.54 
(1)Reflects adjustments for the vesting of PUs based on above-target performance for the 2020-2022 performance period.
Schedule of Information Related to Awarded MSUs
The following table summarizes information related to awarded MSUs:
Number of
MSUs
(in thousands)
Weighted
average
grant-
date fair
value
Unvested at December 31, 2022208.5 $145.86 
Granted at target82.3 192.53 
Adjustments for above-target performance(1)
35.9 125.18 
Vested(118.9)135.77 
Forfeited/cancelled(12.3)166.45 
Unvested at December 30, 2023195.5 $167.16 
(1)Reflects adjustments for the vesting of MSUs based on above-target performance for each of the tranches of awards vesting in 2023.
Schedule of Information Related to Awarded RSUs
The following table summarizes information related to awarded RSUs:
Number of
RSUs
(in thousands)
Weighted
average
grant-date
fair value
Unvested at December 31, 202259.8 $159.23 
Granted38.1 175.88 
Vested(18.1)148.26 
Forfeited/cancelled(13.3)159.43 
Unvested at December 30, 202366.5 $171.68