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Equity and Share-Based Compensation (Tables)
 12 Months Ended
Jan. 03, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Dividends Declared
During 2015, 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 20, 2015
 

$0.30

 
March 2, 2015
 

$65.9

 
March 23, 2015
April 14, 2015
 

$0.30

 
May 4, 2015
 

$64.0

 
May 26, 2015
July 20, 2015
 

$0.30

 
August 3, 2015
 

$61.3

 
August 25, 2015
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 weighted-average assumptions:
 
Years ended
 
January 3,
2016
 
December 28,
2014
 
December 29,
2013
Dividend yield
1.52% - 2.16%
 
1.14% - 1.42%
 
0% - 1.65%
Expected volatility
0.32
 
0.32
 
0.37
Risk-free interest rate
1.19%
 
1.22%
 
0.74%
Expected term
4.2 years
 
4.4 years
 
4.4 years
Estimated annual forfeiture rate
8.20%
 
8.79%
 
8.51%
Weighted-average fair value at grant date
$19.29
 
$18.96
 
$16.26
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:
 
Years ended
 
January 3,
2016
 
December 28,
2014
 
December 29,
2013
Dividend yield
1.52% - 2.16%
 
1.14% - 1.25%
 
0% - 1.65%
Expected volatility
0.35
 
0.31
 
0.34
Risk-free interest rate
0.17%
 
0.07%
 
0.11%
Expected term
½ year
 
½ year
 
½ year
Weighted-average fair value at purchase date
$16.55
 
$19.39
 
$13.08
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 January 3, 2016 and changes during 2015, 2014 and 2013 are presented below:
 
Shares
 
Weighted-Average Exercise Price Per Share
 
Weighted-Average Remaining Contractual Term
 
Aggregate Intrinsic Value
 
(In thousands)
 
 
 
(Years)
 
(In thousands)
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

Granted
998

 

$81.17

 
 
 
 
Exercised
(694
)
 

$37.41

 
 
 
$
25,185

Forfeited
(191
)
 

$67.70

 
 
 
 
Expired
(30
)
 

$59.87

 
 
 
 
Options and SARs outstanding as of January 3, 2016
4,173

 

$60.57

 
4.2
 
$
72,093

Options and SARs vested and expected to vest after January 3, 2016, net of forfeitures
4,007

 

$59.91

 
4.2
 
$
71,487

Options and SARs exercisable as of January 3, 2016
2,235

 

$50.23

 
3.2
 
$
59,023
Summary of the changes in RSUs outstanding
A summary of the changes in RSUs outstanding under the Company’s share-based compensation plans during 2015, 2014 and 2013 are presented below:
 
Shares
 
Weighted-Average Grant Date Fair Value Per Share
 
Aggregate Fair Market Value (1)
 
(In thousands)
 
 
 
(In thousands)
Non-vested share units as of December 30, 2012
3,077

 

$43.51

 
 
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

 
 
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

 
 
Granted
2,668

 

$77.86

 
 
Vested
(1,904
)
 

$62.60

 
$
146,487

Forfeited
(782
)
 

$76.87

 
 
Non-vested share units as of January 3, 2016
5,569

 

$72.47

 
 

 
 
(1) 
Aggregate Fair Market Value represents the aggregated market value of RSUs vested during the period as of their individual vest dates.
Share-based compensation expense
The following tables set forth the detailed allocation of the share-based compensation expense:
 
Years ended
 
January 3,
2016
 
December 28,
2014
 
December 29,
2013
 
(In thousands)
Share‑based compensation expense by caption:
 
 
 
 
 
Cost of revenue
$
19,306

 
$
14,720

 
$
9,820

Research and development
87,626

 
74,842

 
51,521

Sales and marketing
37,600

 
35,972

 
19,193

General and administrative
27,864

 
29,779

 
19,222

Total share‑based compensation expense
172,396

 
155,313

 
99,756

Total tax benefit recognized
(44,548
)
 
(42,685
)
 
(28,183
)
Decrease in net income
$
127,848

 
$
112,628

 
$
71,573

 
 
 
 
 
 
Share‑based compensation expense by type of award:
 
 
 
 
 
Stock options
$
26,193

 
$
35,607

 
$
32,803

RSUs
133,573

 
108,259

 
59,962

ESPP
12,630

 
11,447

 
6,991

Total share‑based compensation expense
172,396

 
155,313

 
99,756

Total tax benefit recognized
(44,548
)
 
(42,685
)
 
(28,183
)
Decrease in net income
$
127,848

 
$
112,628

 
$
71,573
Fair value of options and RSUs
The total grant date fair value of options and RSUs vested during the period was as follows:
 
Years ended
 
January 3,
2016
 
December 28,
2014
 
December 29,
2013
 
(In thousands)
Options
$
26,004

 
$
37,986

 
$
36,703

RSUs
118,969

 
81,619

 
39,885

Total grant date fair value of options and RSUs vested during the period
$
144,973

 
$
119,605

 
$
76,588