XML 47 R42.htm IDEA: XBRL DOCUMENT v2.4.1.9
CAPITAL STOCK (Tables)
 12 Months Ended
Jan. 03, 2015
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Reconciliation of Net Earnings Attributable to Common Shareholders and Weighted Average Shares Outstanding used to Calculate Basic and Diluted Earnings Per Share
The following table reconciles net earnings attributable to common shareowners and the weighted average shares outstanding used to calculate basic and diluted earnings per share for the fiscal years ended January 3, 2015, December 28, 2013, and December 29, 2012.
Earnings per Share Computation:
 
2014
 
2013
 
2012
Numerator (in millions):
 
 
 
 
 
Net earnings from continuing operations attributable to common shareowners
$
857.2

 
$
520.0

 
$
458.1

Net (loss) earnings from discontinued operations
(96.3
)
 
(29.7
)
 
425.7

Net earnings attributable to common shareowners
$
760.9

 
$
490.3

 
$
883.8

Less: Earnings attributable to participating restricted stock units (“RSU’s”)
—

 
0.2

 
1.2

Net Earnings — basic
$
760.9

 
$
490.1

 
$
882.6

Net Earnings — diluted
$
760.9

 
$
490.3

 
$
883.8

 
2014
 
2013
 
2012
Denominator (in thousands):
 
 
 
 
 
Basic earnings per share –– weighted-average shares
156,090

 
155,237

 
163,067

Dilutive effect of stock options and awards
3,647

 
3,539

 
3,634

Diluted earnings per share –– weighted-average shares
159,737

 
158,776

 
166,701

 
2014
 
2013
 
2012
Earnings (loss) per share of common stock:
 
 
 
 
 
Basic earnings (loss) per share of common stock:
 
 
 
 
 
Continuing operations
$
5.49

 
$
3.35

 
$
2.81

Discontinued operations
(0.62
)
 
(0.19
)
 
2.61

Total basic earnings per share of common stock
$
4.87

 
$
3.16

 
$
5.41

Diluted earnings (loss) per share of common stock:
 
 
 
 
 
Continuing operations
$
5.37

 
$
3.28

 
$
2.75

Discontinued operations
(0.60
)
 
(0.19
)
 
2.55

Total dilutive earnings per share of common stock
$
4.76

 
$
3.09

 
$
5.30
Weighted-Average Stock Options, Warrants and Equity Purchase Contracts Not Included in Computation of Diluted Shares Outstanding
The following weighted-average stock options and warrants were not included in the computation of diluted shares outstanding because the effect would be anti-dilutive (in thousands):
 
 
2014
 
2013
 
2012
Number of stock options
634

 
307

 
1,825

Number of stock warrants
—

 
—

 
3,419
Common Stock Share Activity
Common stock share activity for 2014, 2013 and 2012 was as follows:
 
 
2014
 
2013
 
2012
Outstanding, beginning of year
155,479,230

 
159,952,027

 
169,046,961

Shares issued, other
—

 
—

 
814,693

Issued from treasury
1,986,796

 
3,828,056

 
3,344,163

Returned to treasury
(340,576
)
 
(8,300,853
)
 
(13,253,790
)
Outstanding, end of year
157,125,450

 
155,479,230

 
159,952,027

Shares subject to the forward share purchase contract
(1,603,822
)
 
—

 
(5,581,400
)
Outstanding, less shares subject to the forward share purchase contract
155,521,628

 
155,479,230

 
154,370,627
Common Stock Shares Reserved for Issuance under Various Employee and Director Stock Plans
Common stock shares reserved for issuance under various employee and director stock plans at January 3, 2015 and December 28, 2013 are as follows:
 
 
2014
 
2013
Employee stock purchase plan
2,286,365

 
2,414,509

Other stock-based compensation plans
10,164,264

 
13,143,201

Total shares reserved
12,450,629

 
15,557,710
Weighted Average Assumptions that were Granted as Part of Merger
 
2014
 
2013
 
2012
Average expected volatility
27.0
%
 
35.0
%
 
35.6
%
Dividend yield
2.2
%
 
2.5
%
 
2.8
%
Risk-free interest rate
1.8
%
 
1.6
%
 
0.8
%
Expected term
5.3 years

 
5.3 years

 
5.5 years

Fair value per option
$
19.98

 
$
20.70

 
$
17.47

Weighted average vesting period
2.8 years

 
2.8 years

 
2.3 years
Number of Stock Options and Weighted-average Exercise Prices
The number of stock options and weighted-average exercise prices are as follows:
 
2014
 
2013
 
2012
 
Options
 
Price
 
Options
 
Price
 
Options
 
Price
Outstanding, beginning of year
7,429,262

 
$
61.69

 
9,056,493

 
$
56.90

 
10,444,660

 
$
52.47

Granted
983,750

 
95.18

 
961,250

 
79.72

 
1,106,075

 
70.66

Exercised
(953,940
)
 
54.02

 
(2,414,697
)
 
50.75

 
(2,258,598
)
 
43.07

Forfeited
(134,991
)
 
85.01

 
(173,784
)
 
80.97

 
(235,644
)
 
68.48

Outstanding, end of year
7,324,081

 
$
67.01

 
7,429,262

 
$
61.69

 
9,056,493

 
$
56.90

Exercisable, end of year
5,146,400

 
$
59.81

 
5,310,381

 
$
57.10

 
5,515,617

 
$
52.97
Outstanding and Exercisable Stock Option
Outstanding and exercisable stock option information at January 3, 2015 follows:
 
Outstanding Stock Options
 
Exercisable Stock Options
Exercise Price Ranges
Options
 
Weighted-
average
Remaining
Contractual Life
 
Weighted-
average
Exercise Price
 
Options
 
Weighted-
average
Remaining
Contractual Life
 
Weighted-
average
Exercise Price
$35.00 and below
495,698

 
2.11
 
$
30.78

 
495,698

 
2.11
 
$
30.78

$35.01 — 50.00
260,943

 
4.09
 
48.60

 
260,943

 
4.09
 
48.60

$50.01 — higher
6,567,440

 
6.32
 
70.48

 
4,389,759

 
4.97
 
63.75

 
7,324,081

 
5.95
 
$
67.01

 
5,146,400

 
4.65
 
$
59.81
Summary of Non-Vested Restricted Stock Unit Activity and Long-Term Performance Awards
A summary of non-vested restricted stock unit and award activity as of January 3, 2015, and changes during the twelve month period then ended is as follows:
 
Restricted Share
Units & Awards
 
Weighted  Average
Grant
Date Fair Value
Non-vested at December 28, 2013
1,750,369

 
$
68.19

Granted
559,955

 
93.67

Vested
(753,481
)
 
85.55

Forfeited
(62,300
)
 
79.11

Non-vested at January 3, 2015
1,494,543

 
$
77.16
Restricted Share Units & Awards  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Summary of Non-Vested Restricted Stock Unit Activity and Long-Term Performance Awards
A summary of the activity pertaining to the maximum number of shares that may be issued is as follows:
 
Share Units
 
Weighted  Average
Grant
Date Fair Value
Non-vested at December 28, 2013
852,949

 
$
71.70

Granted
299,150

 
75.13

Vested
(87,017
)
 
68.97

Forfeited
(217,109
)
 
69.50

Non-vested at January 3, 2015
847,973

 
$
73.76