XML 67 R26.htm IDEA: XBRL DOCUMENT v2.4.1.9
Stock-Based Compensation (Tables)
 9 Months Ended
Apr. 03, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Stock Option Activity
The following table summarizes stock option activity under the Company’s stock option plans (in millions, except per share amounts and remaining contractual lives): 
 
Number
of
Shares
 
Weighted
Average
Exercise
Price
Per
Share
 
Weighted
Average
Remaining
Contractual
Life
(in years)
 
Aggregate
Intrinsic
Value
Options outstanding at June 27, 2014
10.1

 
$
37.03

 
 
 
 
Granted
1.2

 
100.06

 
 
 
 
Exercised
(1.3
)
 
31.04

 
 
 
 
Options outstanding at October 3, 2014
10.0

 
45.16

 
 
 
 
Exercised
(1.1
)
 
32.14

 
 
 
 
Canceled or expired
(0.1
)
 
32.53

 
 
 
 
Options outstanding at January 2, 2015
8.8

 
47.01

 
 
 
 
Assumed in acquisition
0.1

 
3.49

 
 
 
 
Exercised
(1.0
)
 
32.26

 
 
 
 
Canceled or expired
(0.2
)
 
58.23

 
 
 
 
Options outstanding at April 3, 2015
7.7

 
$
48.48

 
4.5
 
$
358

Exercisable at April 3, 2015
3.5

 
$
34.15

 
3.2
 
$
215

Vested and expected to vest after April 3, 2015
7.6

 
$
47.91

 
4.5
 
$
355
Restricted Stock Unit Activity
The following table summarizes RSU activity under the Company's stock plans (in millions, except weighted average grant date fair value):
 
Number
of Shares
 
Weighted Average
Grant-Date
Fair Value
RSUs outstanding at June 27, 2014
3.7

 
$
49.77

Granted
1.1

 
100.07

Vested
(1.5
)
 
40.57

RSUs outstanding at October 3, 2014
3.3

 
70.88

Granted*
—

 
101.27

Vested
(0.1
)
 
48.25

Forfeited*
—

 
64.09

RSUs outstanding at January 2, 2015
3.2

 
72.15

Granted
0.1

 
101.84

Vested
(0.1
)
 
51.75

Forfeited
(0.1
)
 
64.65

RSUs outstanding at April 3, 2015
3.1

 
$
73.54

Expected to vest after April 3, 2015
3.0

 
$
73.07

*
Shares were immaterial for rounding purposes.
Fair Value of Stock Options Granted
The fair value of stock options granted was estimated using the following weighted average assumptions: 
 
Three Months Ended
 
Nine Months Ended
 
April 3,
2015
 
March 28,
2014
 
April 3,
2015
 
March 28,
2014
Suboptimal exercise factor
2.65
 
2.29
 
2.52
 
2.06
Range of risk-free interest rates
0.21% to 1.60%
 
0.13% to 2.31%
 
0.11% to 2.16%
 
0.10% to 2.44%
Range of expected stock price volatility
0.25 to 0.45
 
0.27 to 0.48
 
0.23 to 0.47
 
0.27 to 0.50
Weighted average expected volatility
0.34
 
0.39
 
0.36
 
0.43
Post-vesting termination rate
1.04%
 
3.29%
 
1.25%
 
3.09%
Dividend yield
2.15%
 
1.34%
 
1.69%
 
1.57%
Fair value
$28.87
 
$28.78
 
$32.22
 
$24.06