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Stock Transactions And Stock-Based Compensation
 9 Months Ended
Sep. 28, 2018
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Stock Transactions And Stock-Based Compensation
STOCK TRANSACTIONS AND STOCK-BASED COMPENSATION
Neither the Company nor any “affiliated purchaser” repurchased any shares of Company common stock during the nine-month period ended September 28, 2018. On July 16, 2013, the Company’s Board of Directors approved a repurchase program (the “Repurchase Program”) authorizing the repurchase of up to 20 million shares of the Company’s common stock from time to time on the open market or in privately negotiated transactions. As of September 28, 2018, 20 million shares remained available for repurchase pursuant to the Repurchase Program.
For a full description of the Company’s stock-based compensation programs, reference is made to Note 17 of the Company’s financial statements as of and for the year ended December 31, 2017 included in the Company’s 2017 Annual Report. As of September 28, 2018, approximately 59 million shares of the Company’s common stock were reserved for issuance under the 2007 Omnibus Incentive Plan.
The following summarizes the components of the Company’s stock-based compensation expense ($ in millions):
 
Three-Month Period Ended
 
Nine-Month Period Ended
 
September 28, 2018
 
September 29, 2017
 
September 28, 2018
 
September 29, 2017
Restricted stock units (“RSUs”)/performance stock units (“PSUs”):
 
 
 
 
 
 
 
Pretax compensation expense
$
24.0

 
$
21.9

 
$
69.6

 
$
67.6

Income tax benefit
(5.0
)
 
(6.6
)
 
(14.6
)
 
(20.7
)
RSU/PSU expense, net of income taxes
19.0

 
15.3

 
55.0

 
46.9

Stock options:
 
 
 
 
 
 
 
Pretax compensation expense
14.2

 
11.5

 
42.0

 
37.2

Income tax benefit
(3.0
)
 
(3.6
)
 
(8.9
)
 
(11.8
)
Stock option expense, net of income taxes
11.2

 
7.9

 
33.1

 
25.4

Total stock-based compensation:
 
 
 
 
 
 
 
Pretax compensation expense
38.2

 
33.4

 
111.6

 
104.8

Income tax benefit
(8.0
)
 
(10.2
)
 
(23.5
)
 
(32.5
)
Total stock-based compensation expense, net of income taxes
$
30.2

 
$
23.2

 
$
88.1

 
$
72.3


Stock-based compensation has been recognized as a component of selling, general and administrative expenses in the accompanying Consolidated Condensed Statements of Earnings. As of September 28, 2018, $171 million of total unrecognized compensation cost related to RSUs/PSUs is expected to be recognized over a weighted average period of approximately two years. As of September 28, 2018, $151 million of total unrecognized compensation cost related to stock options is expected to be recognized over a weighted average period of approximately three years. Future compensation amounts will be adjusted for any changes in estimated forfeitures.