STOCK COMPENSATION PLAN (Tables)

9 Months Ended

Sep. 28, 2014

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Stock Compensation Costs

The following table summarizes our stock compensation costs:

	Three Months Ended				Nine Months Ended
	September 28, 2014		September 29, 2013		September 28, 2014		September 29, 2013
Total compensation amount charged against income for stock options, performance stock units (“PSUs”) and restricted stock units (“RSUs”)	$	14,062	$	13,594	$	41,759	$	39,582
Total income tax benefit recognized in the Consolidated Statements of Income for stock-based compensation	$	4,907	$	4,507	$	14,407	$	13,577

Schedule of Share-based Compensation, Stock Options, Activity

A summary of the status of our stock options as of September 28, 2014 and the change during 2014 is presented below:

	Nine Months Ended September 28, 2014
Stock Options	Shares		Weighted-Average Exercise Price (per share)	Weighted-Average Remaining Contractual Term
Outstanding at beginning of the period	8,660,336		$55.47	6.3 years
Granted	1,371,610		$105.88
Exercised	(2,076,476	)	$48.88
Forfeited	(151,676	)	$83.04
Outstanding as of September 28, 2014	7,803,794		$65.57	6.5 years
Options exercisable as of September 28, 2014	4,114,106		$50.51	4.9 years

Fair Value and Intrinsic Value of Options

	Nine Months Ended
	September 28, 2014	September 29, 2013
Weighted-average fair value of options granted (per share)	$21.54	$14.48
Intrinsic value of options exercised	$110,329	$117,520

Fair Value of Each Stock Option Grant

We estimated the fair value of each stock option grant on the date of the grant using a Black-Scholes option-pricing model and the weighted-average assumptions set forth in the following table:

	Nine Months Ended
	September 28, 2014		September 29, 2013
Dividend yields	2.0	%	2.2	%
Expected volatility	22.3	%	22.2	%
Risk-free interest rates	2.1	%	1.4	%
Expected lives in years	6.7		6.6

Schedule of Share-based Compensation, Restricted Stock and Restricted Stock Units Activity

A summary of the status of our PSUs and RSUs as of September 28, 2014 and the change during 2014 is presented below:

Performance Stock Units and Restricted Stock Units	Nine Months Ended September 28, 2014		Weighted-average grant date fair value for equity awards or market value for liability awards (per unit)
Outstanding at beginning of year	1,411,399		$72.43
Granted	308,980		$116.90
Performance assumption change	(191,588	)	$84.55
Vested	(541,848	)	$63.36
Forfeited	(36,933	)	$88.20
Outstanding as of September 28, 2014	950,010		$93.86

Schedule Of Share Based Payment Award Market Based Total Shareholder Return Valuation Assumptions

The following table sets forth information about the fair value of the PSUs and RSUs granted during the periods indicated for potential future distribution to employees and directors. In addition, the table provides assumptions used to determine the fair value of the market-based total shareholder return component of the PSU grants using a Monte Carlo simulation model on the date of grant:

	Nine Months Ended
	September 28, 2014		September 29, 2013
Units granted	308,980		371,695
Weighted-average fair value at date of grant (per unit)	$116.90		$88.11
Monte Carlo simulation assumptions:
Estimated values (per unit)	$80.95		$55.49
Dividend yields	1.8	%	2.0	%
Expected volatility	15.5	%	17.1	%

Share Based Compensation Arrangement By Share Based Payment Award Intrinsic Value Of Share Based Liabilities Paid Combined With Fair Value Of Shares Vested

	Nine Months Ended
	September 28, 2014		September 29, 2013
Intrinsic value of share-based liabilities paid, combined with the fair value of shares vested	$	57,001	$	60,507