Long-Term Incentive Compensation

6 Months Ended

Jul. 04, 2015

Long-Term Incentive Compensation

Long-Term Incentive Compensation

Note 8.  Long-Term Incentive Compensation

Equity Awards

Stock-based compensation expense from continuing operations was $5.8 million and $13.2 million for the three and six months ended July 4, 2015, respectively, and $8.5 million and $14.5 million for the three and six months ended June 28, 2014, respectively. This expense was included in “Marketing, general and administrative expense” in the unaudited Condensed Consolidated Statements of Income.

As of July 4, 2015, we had approximately $41 million of unrecognized compensation expense from continuing operations related to unvested stock-based awards, which is expected to be recognized over the remaining weighted-average period of approximately three years.

Cash Awards

Compensation expense from continuing operations related to long-term incentive units was $10.1 million and $15.3 million for the three and six months ended July 4, 2015, respectively, and $4.6 million and $9.9 million for the three and six months ended June 28, 2014, respectively. This expense was included in “Marketing, general and administrative expense” in the unaudited Condensed Consolidated Statements of Income.