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Employee Compensation Plans (Tables)
12 Months Ended
Sep. 26, 2015
Compensation Plans  
Summary of option activity

 

                                                                                                                                                                                    

 

 

Number of
Shares

 

Weighted Average
Exercise Price
(per share)

 

Outstanding at September 27, 2014

 

 

3,436,727

 

$

25.24

 

Granted

 

 

201,798

 

$

137.31

 

Exercised

 

 

(1,520,757

)

$

10.89

 

Forfeited/expired

 

 

(77,799

)

$

80.75

 

​  

​  

Outstanding at September 26, 2015

 

 

2,039,969

 

$

44.91

 

Exercisable at September 26, 2015

 

 

1,413,283

 

$

28.82

 

 

Summary of information about stock options vested and expected to vest

 

                                                                                                                                                                                    

Number of options outstanding

 

Weighted average
remaining
contractual life
(in years)

 

Weighted average
exercise price

 

Intrinsic value at
September 26,
2015
(in thousands)

 

2,036,855

 

 

5.53 

 

$

44.83 

 

$

43,169 

 

 

Summary of information about stock options exercisable

 

                                                                                                                                                                                    

Number of options exercisable

 

Weighted average
remaining
contractual life
(in years)

 

Weighted average
exercise price

 

Intrinsic value at
September 26,
2015
(in thousands)

 

1,413,283

 

 

4.41 

 

$

28.82 

 

$

40,858 

 

 

Schedule of assumptions used in estimating the grant-date fair value of employee stock options and similar instruments

 

                                                                                                                                                                                    

 

 

Fiscal 2015

 

Fiscal 2014

 

Fiscal 2013

 

Average expected life

 

 

5.5 years

 

 

5.5 years

 

 

6.0 years

 

Average volatility

 

 

57 

%

 

74 

%

 

81 

%

Dividend yield

 

 

0.84 

%

 

1.30 

%

 

%

Risk-free interest rate

 

 

1.61 

%

 

1.70 

%

 

1.02 

%

Weighted average grant date fair value

 

$

66.19 

 

$

42.38 

 

$

31.23 

 

 

Summary of the number and weighted average grant-date fair value of nonvested RSUs

 

                                                                                                                                                                                    

 

 

Share Units

 

Weighted Average
Grant-Date
Fair Value

 

Weighted Average
Remaining
Contractual Life
(in Years)

 

Intrinsic Value
(in Thousands)

 

Nonvested, September 27, 2014

 

 

409,173

 

$

86.50

 

 

3.26

 

$

53,450

 

Granted

 

 

154,064

 

$

116.80

 

 

 

 

 

 

 

Vested

 

 

(128,465

)

$

65.96

 

 

 

 

 

 

 

Forfeited

 

 

(20,359

)

$

114.12

 

 

 

 

 

 

 

​  

​  

Nonvested, September 26, 2015

 

 

414,413

 

$

102.78

 

 

2.23

 

$

23,008

 

​  

​  

​  

​  

 

Summary of the number and weighted average grant-date fair value of nonvested PSUs

 

                                                                                                                                                                                    

 

 

Share Units

 

Weighted Average
Grant-Date
Fair Value

 

Outstanding on September 27, 2014

 

 

195,782

 

$

67.38

 

Granted

 

 

45,216

 

$

138.08

 

Converted

 

 

(75,421

)

$

41.52

 

Forfeited

 

 

(5,451

)

$

124.73

 

Actual performance change(1)

 

 

(52,528

)

$

91.59

 

​  

​  

​  

​  

Outstanding on September 26, 2015(2)

 

 

107,598

 

$

78.43

 

​  

​  

​  

​  

​  

​  

​  

​  


 

 

 

 

(1)          

Reflects the net number of PSUs above and below target levels based on actual performance measured at the end of the performance period.

(2)          

The outstanding PSUs, for which the performance period has not ended as of September 26, 2015, at the threshold award and maximum award levels, were 65,392 and 149,804, respectively. Does not include shares underlying the performance stock units granted in fiscal 2014 as the performance period has concluded and the threshold performance criteria was not achieved.

 

Schedule of assumptions used in estimating the grant-date fair value of employees' purchase rights under the ESPP

 

                                                                                                                                                                                    

 

 

Fiscal 2015

 

Fiscal 2014

 

Fiscal 2013

 

Average expected life

 

 

6 months

 

 

6 months

 

 

6 months

 

Average volatility

 

 

35 

%

 

55 

%

 

86 

%

Dividend yield

 

 

1.55 

%

 

1.14 

%

 

%

Risk-free interest rate

 

 

0.10 

%

 

0.06 

%

 

0.13 

%

Weighted average grant date fair value

 

$

20.28 

 

$

26.06 

 

$

14.38 

 

 

Schedule of stock-based compensation expense recognized

 

Stock-based compensation expense recognized in the Consolidated Statements of Operations in fiscal years 2015, 2014, and 2013 (in thousands):

                                                                                                                                                                                    

 

 

Fiscal 2015

 

Fiscal 2014

 

Fiscal 2013

 

Options

 

$

13,464 

 

$

13,029 

 

$

14,151 

 

RSUs/PSUs/RSAs

 

 

14,746 

 

 

13,200 

 

 

7,529 

 

ESPP

 

 

3,724 

 

 

4,444 

 

 

4,401 

 

​  

​  

​  

​  

​  

​  

Total stock-based compensation expense recognized in the Consolidated Statements of Operations

 

$

31,934 

 

$

30,673 

 

$

26,081 

 

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

​  

Total related tax benefit

 

$

12,065 

 

$

12,005 

 

$

9,936