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Stock Transactions And Stock-Based Compensation (Tables)

3 Months Ended

Apr. 02, 2021

Share-based Payment Arrangement [Abstract]

The following table summarizes the Company’s share activity (shares in millions):


	Three-Month Period Ended
	April 2, 2021	April 3, 2020
Preferred stock - shares issued:


Balance, beginning and end of period	3.4	1.7

Common stock - shares issued:
Balance, beginning of period	851.3	835.5
Common stock-based compensation awards	1.5	1.8

Common stock issued in connection with LYONs’ conversions	0.9	—

Balance, end of period	853.7	837.3

Key Terms of Shares

The following summarizes the key terms of the MCPS Shares:

Annual Cumulative Dividend Rate

Liquidation Preference per share

Minimum Conversion Rate

Maximum Conversion Rate

Mandatory Conversion Date

Series A

4.75

1,000

6.6577 shares

8.1556 shares

April 15, 2022

Series B

5.00

1,000

5.0088 shares

6.1357 shares

April 15, 2023

Components Of Stock-Based Compensation Program

The following summarizes the components of the Company’s stock-based compensation expense ($ in millions):


	Three-Month Period Ended
	April 2, 2021		April 3, 2020
Restricted stock units (“RSUs”)/performance stock units (“PSUs”):
Pretax compensation expense	$	33	$	28
Income tax benefit	(7)		(6)
RSU/PSU expense, net of income taxes	26		22
Stock options:
Pretax compensation expense	21		17
Income tax benefit	(4)		(3)
Stock option expense, net of income taxes	17		14
Total stock-based compensation:
Pretax compensation expense	54		45
Income tax benefit	(11)		(9)
Total stock-based compensation expense, net of income taxes	$	43	$	36

- Definition

Tabular disclosure of an entity's stock, including par or stated value per share, number and dollar amount of share subscriptions, shares authorized, shares issued, shares outstanding, number and dollar amount of shares held in an employee trust, dividend per share, total dividends, share conversion features, par value plus additional paid in capital, the value of treasury stock and other information necessary to a fair presentation, and EPS information. Stock by class includes common, convertible, and preferred stocks which are not redeemable or redeemable solely at the option of the issuer. Includes preferred stock with redemption features that are solely within the control of the issuer and mandatorily redeemable stock if redemption is required to occur only upon liquidation or termination of the reporting entity. If more than one issue is outstanding, state the title of each issue and the corresponding dollar amount; dollar amount of any shares subscribed but unissued and the deduction of subscriptions receivable there from; number of shares authorized, issued, and outstanding.

+ References

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+ Details