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Share-Based Compensation Share-Based Compensation (Tables)
12 Months Ended
Dec. 31, 2022
Share-Based Payment Arrangement [Abstract]  
Share-based Payment Arrangement, Cost by Plan [Table Text Block]
The following table summarizes our total share-based compensation expense, which is primarily recorded in selling, general and administrative expenses, and excess tax benefits recognized:
202220212020
Share-based compensation expense - equity awards$343 $301 $264 
Share-based compensation expense - liability awards30 20 11 
Acquisition and divestiture-related charges3 — — 
Restructuring charges (1)
Total$376 $322 $274 
Income tax benefits recognized in earnings related to share-based compensation$62 $57 $48 
Excess tax benefits related to share-based compensation
$44 $38 $35 
Schedule Of Weighted-Average Black-Scholes Fair Value Assumptions
Our weighted-average Black-Scholes fair value assumptions are as follows:
202220212020
Expected life7 years7 years6 years
Risk-free interest rate1.9 %1.1 %0.9 %
Expected volatility16 %14 %14 %
Expected dividend yield2.5 %3.1 %3.4 %
Share-based Payment Arrangement, Option, Activity [Table Text Block]
A summary of our stock option activity for the year ended December 31, 2022 is as follows:
Options(a)
Weighted-Average Exercise
Price
Weighted-Average Contractual
Life Remaining
(years)
Aggregate Intrinsic
Value(a)
Outstanding at December 25, 202110,142 $110.54 
Granted2,422 $163.54 
Exercised(1,578)$87.33 
Forfeited/expired(482)$146.13 
Outstanding at December 31, 202210,504 $124.63 6.08$588,549 
Exercisable at December 31, 20224,892 $101.02 3.50$389,547 
Expected to vest as of December 31, 20225,267 $144.58 8.29$190,040 
(a)In thousands.
Our RSU and PSU Activity
A summary of our RSU and PSU activity for the year ended December 31, 2022 is as follows:

RSUs/PSUs(a)
Weighted-Average
Grant-Date Fair Value
Weighted-Average Contractual Life
Remaining (years)
Aggregate
Intrinsic
Value(a)
Outstanding at December 25, 20215,977 $127.45 
Granted2,263 $163.02 
Converted(2,051)$120.03 
Forfeited(475)$141.64 
Outstanding at December 31, 2022 (b)
5,714 $143.02 1.24$1,032,222 
Expected to vest as of December 31, 2022 (c)
5,979 $141.94 1.17$1,080,138 
(a)In thousands. Outstanding awards are disclosed at target.
(b)The outstanding PSUs for which the vesting period has not ended as of December 31, 2022, at the threshold, target and maximum award levels were zero, 1 million and 2 million, respectively.
(c)Represents the number of outstanding awards expected to vest, including estimated performance adjustments on all outstanding PSUs as of December 31, 2022.
Schedule of Liability Award Vested and Expected to Vest [Table Text Block]
A summary of our long-term cash activity for the year ended December 31, 2022 is as follows:
Long-Term Cash
Award(a)
Balance Sheet Date Fair Value(b)
Contractual Life Remaining
(years)
Outstanding at December 25, 2021$45,792 
Granted18,182 
Vested(11,364)
Forfeited(2,356)
Outstanding at December 31, 2022 (c)
$50,254 $68,167 1.17
Expected to vest as of December 31, 2022$46,841 $65,835 1.15
(a)In thousands, disclosed at target.
(b)In thousands, based on the most recent valuation as of December 31, 2022.
(c)The outstanding awards for which the vesting period has not ended as of December 31, 2022, at the threshold, target and maximum award levels based on the achievement of its market conditions were zero, $50 million and $101 million, respectively.
Other Share-Based Compensation Data
The following is a summary of other share-based compensation data:
202220212020
Stock Options
Total number of options granted (a)
2,422 2,157 1,847 
Weighted-average grant-date fair value of options granted$19.72 $9.88 $8.31 
Total intrinsic value of options exercised (a)
$134,580 $153,306 $155,096 
Total grant-date fair value of options vested (a)
$9,661 $10,605 $8,652 
RSUs/PSUs
Total number of RSUs/PSUs granted (a)
2,263 2,636 2,496 
Weighted-average grant-date fair value of RSUs/PSUs granted$163.02 $131.81 $131.21 
Total intrinsic value of RSUs/PSUs converted (a)
$329,705 $273,878 $303,165 
Total grant-date fair value of RSUs/PSUs vested (a)
$196,649 $198,469 $235,523 
(a)In thousands.