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Equity and Share-Based Compensation (Tables)
 12 Months Ended
Dec. 28, 2014
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Dividends Declared
During the fiscal year ended December 28, 2014, the Company’s Board of Directors declared the following dividends:
Declaration Date
 
Dividend per Share
 
Record Date
 
Total Amount Declared
 
Payment Date
 
 
 
 
 
 
(In millions)
 
 
January 21, 2014
 
$
0.225

 
February 3, 2014
 
$
51.7

 
February 24, 2014
April 15, 2014
 
0.225

 
May 5, 2014
 
52.0

 
May 27, 2014
July 15, 2014
 
0.300

 
August 4, 2014
 
68.5

 
August 25, 2014
October 15, 2014
 
0.300

 
November 3, 2014
 
67.5

 
November 24, 2014
Fair value of stock options granted to employees, officers and non-employee board members and ESPP shares granted to employees
The fair value of the Company’s stock options granted to employees, officers and non-employee board members, excluding unvested stock options assumed through acquisitions, was estimated using the following annual weighted-average assumptions:
 
Fiscal years ended
 
December 28,
2014
 
December 29,
2013
 
December 30,
2012
Dividend yield
1.14% - 1.42%
 
0% - 1.65%
 
—%
Expected volatility
0.32
 
0.37
 
0.43
Risk-free interest rate
1.22%
 
0.74%
 
0.60%
Expected term
4.4 years
 
4.4 years
 
4.3 years
Estimated annual forfeiture rate
8.79%
 
8.51%
 
8.59%
Weighted-average fair value at grant date
$18.96
 
$16.26
 
$16.45
Schedule of Share-based Payment Award, Employee Stock Purchase Plan, Valuation Assumptions
The fair value of shares issued under the Company’s ESPP program was estimated using the following weighted-average assumptions:
 
Fiscal years ended
 
December 28,
2014
 
December 29,
2013
 
December 30,
2012
Dividend yield
1.14% - 1.25%
 
0% - 1.65%
 
—%
Expected volatility
0.31
 
0.34
 
0.41
Risk-free interest rate
0.07%
 
0.11%
 
0.15%
Expected term
½ year
 
½ year
 
½ year
Weighted-average fair value at purchase date
$19.39
 
$13.08
 
$11.87
Stock options and stock appreciation rights
A summary of stock option and SARs activities under all of the Company’s share‑based compensation plans as of December 28, 2014 and changes during the three fiscal years ended December 28, 2014 are presented below (in thousands, except for weighted-average exercise price and remaining contractual term):
 
Shares
 
Weighted-Average Exercise Price
 
Weighted-Average Remaining Contractual Term (Years)
 
Aggregate Intrinsic Value
Options and SARs outstanding as of January 1, 2012
17,559

 
$
36.55

 
3.4
 
$
257,251

Granted
2,336

 
46.49

 
 
 
 

Exercised
(3,403
)
 
21.32

 
      
 
81,622

Forfeited
(469
)
 
38.12

 
 
 
 

Expired
(597
)
 
53.10

 
 
 
 

Options and SARs outstanding as of December 30, 2012
15,426

 
40.73

 
3.2
 
109,411

Granted
1,142

 
52.69

 
 
 
 
Exercised
(7,362
)
 
35.53

 
      
 
163,992

Forfeited
(433
)
 
43.72

 
 
 
 

Expired
(2,363
)
 
60.70

 
 
 
 

Options assumed through acquisition
183

 
19.37

 
 
 
 
Options and SARs outstanding as of December 29, 2013
6,593

 
40.66

 
4.2
 
195,018

Granted
1,032

 
76.82

 
 
 
 
Exercised
(3,635
)
 
40.54

 
 
 
163,623

Forfeited
(318
)
 
51.88

 
 
 
 
Expired
(9
)
 
41.09

 
 
 
 
Options assumed through acquisition
427

 
68.49

 
 
 
 
Options and SARs outstanding as of December 28, 2014
4,090

 
51.94

 
4.5
 
202,044

Options and SARs vested and expected to vest after December 28, 2014, net of forfeitures
3,864

 
51.23

 
4.4
 
193,621

Options and SARs exercisable as of December 28, 2014
1,547

 
38.53

 
3.2
 
97,107
Summary of the changes in RSUs outstanding
A summary of the changes in RSUs outstanding under the Company’s share‑based compensation plans during the three fiscal years ended December 28, 2014 is presented below (in thousands, except for weighted-average grant date fair value):
 
Shares
 
Weighted-Average Grant Date Fair Value
 
Aggregate Intrinsic Value
Non-vested share units as of January 1, 2012
2,051

 
$
40.22

 
$
100,913

Granted
1,840

 
45.04

 
 

Vested
(646
)
 
47.75

 
29,479

Forfeited
(227
)
 
42.85

 
 

Assumed through acquisition
59

 
46.63

 
 
Non-vested share units as of December 30, 2012
3,077

 
43.51

 
131,622

Granted
2,665

 
53.99

 
 

Vested
(950
)
 
41.97

 
50,268

Forfeited
(338
)
 
46.93

 
 

Non-vested share units as of December 29, 2013
4,454

 
49.87

 
221,457

Granted
2,888

 
81.62

 
 
Vested
(1,594
)
 
51.19

 
129,945

Forfeited
(606
)
 
70.81

 
 

Assumed through acquisition
445

 
94.35

 
 
Non-vested share units as of December 28, 2014
5,587

 
67.18

 
375,366
Share-based compensation expense
The following tables set forth the detailed allocation of the share‑based compensation expense (in thousands):
 
Fiscal years ended
 
December 28,
2014
 
December 29,
2013
 
December 30,
2012
Share‑based compensation expense by caption:
 
 
 
 
 
Cost of revenue
$
14,720

 
$
9,820

 
$
7,459

Research and development
74,842

 
51,521

 
41,009

Sales and marketing
35,972

 
19,193

 
14,585

General and administrative
29,779

 
19,222

 
15,390

Total share‑based compensation expense
155,313

 
99,756

 
78,443

Total tax benefit recognized
(42,685
)
 
(28,183
)
 
(20,122
)
Decrease in net income
$
112,628

 
$
71,573

 
$
58,321

 
 
 
 
 
 
Share‑based compensation expense by type of award:
 
 
 
 
 
Stock options
$
35,607

 
$
32,803

 
$
35,428

RSUs
108,259

 
59,962

 
35,260

ESPP
11,447

 
6,991

 
7,755

Total share‑based compensation expense
155,313

 
99,756

 
78,443

Total tax benefit recognized
(42,685
)
 
(28,183
)
 
(20,122
)
Decrease in net income
$
112,628

 
$
71,573

 
$
58,321
Fair value of options and RSUs
The total grant date fair value of options and RSUs vested during the three fiscal years ended December 28, 2014 was as follows (in thousands):
 
Fiscal years ended
 
December 28,
2014
 
December 29,
2013
 
December 30,
2012
Options
$
37,986

 
$
36,703

 
$
37,674

RSUs
81,619

 
39,885

 
24,327

Total grant date fair value of vested options and RSUs
$
119,605

 
$
76,588

 
$
62,001