Stockholders' Equity (Tables)
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12 Months Ended |
Dec. 30, 2018 |
Equity [Abstract] |
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Summary of Restricted Stock Activity and Related Information, Restricted Stock |
Restricted stock activity from January 3, 2016 through December 30, 2018 was as follows (units in thousands): | | | | | | | | | | | | | | | | Restricted Stock Units (RSU) | | Performance Stock Units (PSU)(1) | | Weighted-Average Grant- Date Fair Value per Share | | | | RSU | | PSU | Outstanding at January 3, 2016 | 2,206 |
| | 583 |
| | $ | 131.80 |
| | $ | 169.41 |
| Awarded | 1,245 |
| | 172 |
| | $ | 132.47 |
| | $ | 113.56 |
| Vested | (928 | ) | | (199 | ) | | $ | 105.49 |
| | $ | 148.99 |
| Cancelled | (230 | ) | | (96 | ) | | $ | 139.74 |
| | $ | 163.05 |
| Outstanding at January 1, 2017 | 2,293 |
| | 460 |
| | $ | 141.80 |
| | $ | 158.66 |
| Awarded | 879 |
| | 238 |
| | $ | 207.38 |
| | $ | 191.53 |
| Vested | (861 | ) | | (92 | ) | | $ | 131.62 |
| | $ | 189.09 |
| Cancelled | (226 | ) | | (64 | ) | | $ | 149.03 |
| | $ | 173.83 |
| Outstanding at December 31, 2017 | 2,085 |
| | 542 |
| | $ | 172.92 |
| | $ | 166.15 |
| Awarded | 655 |
| | 336 |
| | $ | 322.04 |
| | $ | 232.08 |
| Vested | (731 | ) | | (188 | ) | | $ | 170.50 |
| | $ | 176.15 |
| Cancelled | (169 | ) | | (30 | ) | | $ | 172.30 |
| | $ | 162.54 |
| Outstanding at December 30, 2018 | 1,840 |
| | 660 |
| | $ | 227.00 |
| | $ | 196.99 |
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______________________________________ | | (1) | The number of units reflect the estimated number of shares to be issued at the end of the performance period. |
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Summary of Restricted Stock Activity and Related Information, Performance Units |
Restricted stock activity from January 3, 2016 through December 30, 2018 was as follows (units in thousands): | | | | | | | | | | | | | | | | Restricted Stock Units (RSU) | | Performance Stock Units (PSU)(1) | | Weighted-Average Grant- Date Fair Value per Share | | | | RSU | | PSU | Outstanding at January 3, 2016 | 2,206 |
| | 583 |
| | $ | 131.80 |
| | $ | 169.41 |
| Awarded | 1,245 |
| | 172 |
| | $ | 132.47 |
| | $ | 113.56 |
| Vested | (928 | ) | | (199 | ) | | $ | 105.49 |
| | $ | 148.99 |
| Cancelled | (230 | ) | | (96 | ) | | $ | 139.74 |
| | $ | 163.05 |
| Outstanding at January 1, 2017 | 2,293 |
| | 460 |
| | $ | 141.80 |
| | $ | 158.66 |
| Awarded | 879 |
| | 238 |
| | $ | 207.38 |
| | $ | 191.53 |
| Vested | (861 | ) | | (92 | ) | | $ | 131.62 |
| | $ | 189.09 |
| Cancelled | (226 | ) | | (64 | ) | | $ | 149.03 |
| | $ | 173.83 |
| Outstanding at December 31, 2017 | 2,085 |
| | 542 |
| | $ | 172.92 |
| | $ | 166.15 |
| Awarded | 655 |
| | 336 |
| | $ | 322.04 |
| | $ | 232.08 |
| Vested | (731 | ) | | (188 | ) | | $ | 170.50 |
| | $ | 176.15 |
| Cancelled | (169 | ) | | (30 | ) | | $ | 172.30 |
| | $ | 162.54 |
| Outstanding at December 30, 2018 | 1,840 |
| | 660 |
| | $ | 227.00 |
| | $ | 196.99 |
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______________________________________ | | (1) | The number of units reflect the estimated number of shares to be issued at the end of the performance period. |
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Summary of Pre-tax Intrinsic Values of Vested Restricted Stock |
Pre-tax intrinsic values and fair value of vested restricted stock was as follows (in millions): | | | | | | | | | | | | | | Years Ended | | December 30, 2018 | | December 31, 2017 | | January 1, 2017 | Pre-tax intrinsic value of outstanding restricted stock: | | | | | | RSU | $ | 549 |
| | $ | 456 |
| | $ | 294 |
| PSU | $ | 197 |
| | $ | 118 |
| | $ | 59 |
| | | | | | | Fair value of restricted stock vested: | | | | | | RSU | $ | 125 |
| | $ | 113 |
| | $ | 98 |
| PSU | $ | 33 |
| | $ | 17 |
| | $ | 30 |
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Summary of Total Fair Value of Vested Restricted Stock |
Pre-tax intrinsic values and fair value of vested restricted stock was as follows (in millions): | | | | | | | | | | | | | | Years Ended | | December 30, 2018 | | December 31, 2017 | | January 1, 2017 | Pre-tax intrinsic value of outstanding restricted stock: | | | | | | RSU | $ | 549 |
| | $ | 456 |
| | $ | 294 |
| PSU | $ | 197 |
| | $ | 118 |
| | $ | 59 |
| | | | | | | Fair value of restricted stock vested: | | | | | | RSU | $ | 125 |
| | $ | 113 |
| | $ | 98 |
| PSU | $ | 33 |
| | $ | 17 |
| | $ | 30 |
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Summary of Stock Option Activity Under all Stock Option Plans |
Stock option activity from January 3, 2016 through December 30, 2018 was as follows: | | | | | | | | | Options (in thousands) | | Weighted- Average Exercise Price | Outstanding at January 3, 2016 | 1,599 |
| | $ | 41.95 |
| Exercised | (552 | ) | | $ | 29.41 |
| Cancelled | (2 | ) | | $ | 46.35 |
| Outstanding at January 1, 2017 | 1,045 |
| | $ | 48.56 |
| Exercised | (723 | ) | | $ | 49.31 |
| Outstanding at December 31, 2017 | 322 |
| | $ | 46.93 |
| Exercised | (130 | ) | | $ | 35.68 |
| Outstanding and exercisable at December 30, 2018 | 192 |
| | $ | 54.52 |
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Summary of Share-based Compensation Expense for all Stock Awards |
Share-based compensation expense reported in our consolidated statements of income was as follows (in millions): | | | | | | | | | | | | | | Years Ended | | December 30, 2018 | | December 31, 2017 | | January 1, 2017 | Cost of product revenue | $ | 16 |
| | $ | 12 |
| | $ | 9 |
| Cost of service and other revenue | 3 |
| | 2 |
| | 2 |
| Research and development | 60 |
| | 51 |
| | 42 |
| Selling, general and administrative | 114 |
| | 99 |
| | 76 |
| Share-based compensation expense, before taxes | 193 |
| | 164 |
| | 129 |
| Related income tax benefits | (39 | ) | | (48 | ) | | (41 | ) | Share-based compensation expense, net of taxes | $ | 154 |
| | $ | 116 |
| | $ | 88 |
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Summary of Assumptions used to Estimate the Weighted-Average Fair Value Per Share for Stock Purchase under the Employee Stock Purchase Plan |
The assumptions used for the specified reporting periods and the resulting estimates of weighted-average fair value per share for stock purchased under the ESPP were as follows: | | | | | | | | | | | | | | Years Ended | | December 30, 2018 | | December 31, 2017 | | January 1, 2017 | Risk-free interest rate | 1.22% - 2.45% |
| | 0.50% - 1.22% |
| | 0.40% - 0.50% |
| Expected volatility | 29% - 39% |
| | 29% - 44% |
| | 40% - 44% |
| Expected term | 0.5 - 1.0 year |
| | 0.5 - 1.0 year |
| | 0.5 - 1.0 year |
| Expected dividends | 0 | % | | 0 | % | | 0 | % | Weighted-average grant-date fair value per share | $ | 61.59 |
| | $ | 46.81 |
| | $ | 48.29 |
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