Share-Based Compensation

3 Months Ended

Mar. 24, 2018

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

Stock-Based Compensation

Share-Based Compensation

The following table summarizes our total share-based compensation expense:

	12 Weeks Ended
	3/24/2018		3/25/2017
Share-based compensation expense - equity awards	$	80	$	72
Share-based compensation expense - liability awards	6		4
Restructuring and impairment charges	3		1
Total	$	89	$	77

The following table summarizes share-based awards granted under the terms of the PepsiCo, Inc. Long-Term Incentive Plan:

	12 Weeks Ended
	3/24/2018			3/25/2017
	Granted(a)	Weighted-Average Grant Price		Granted(a)	Weighted-Average Grant Price
Stock options	1.2	$	108.75	1.3	$	109.75
RSUs and PSUs	2.5	$	108.77	2.7	$	109.75

(a) In millions. All grant activity is disclosed at target.

We granted long-term cash awards to certain executive officers and other senior executives with an aggregate target value of $21 million and $19 million during the 12 weeks ended March 24, 2018 and March 25, 2017, respectively.

Our weighted-average Black-Scholes fair value assumptions are as follows:

	12 Weeks Ended
	3/24/2018		3/25/2017
Expected life	5 years		5 years
Risk-free interest rate	2.6	%	2.0	%
Expected volatility	12	%	11	%
Expected dividend yield	2.7	%	2.7	%