XML 49 R37.htm IDEA: XBRL DOCUMENT v3.3.1.900
Stock-Based Incentive Compensation Plans (Tables)
 12 Months Ended
Nov. 29, 2015
Share-based Compensation [Abstract]  
Stock appreciation rights award activity
SARs activity during the years ended November 29, 2015, and November 30, 2014, was as follows:
 
Service SARs
 
Performance-based SARs
 
Units
 
Weighted-Average Exercise Price
 
Weighted-Average Remaining Contractual Life (Years)
 
Units
 
Weighted-Average Exercise Price
 
Weighted-Average Remaining Contractual Life (Years)
 
(Units in thousands)
Outstanding at November 24, 2013
2,013

 
 
$
35.51

 
 
5.5
 
644

 
 
$
40.32

 
 
6.3
Granted
508

 
 
64.71

 
 
 
 
507

 
 
64.71

 
 
 
Exercised
(96
)
 
 
36.10

 
 
 
 
—

 
 
 
 
 
 
Forfeited
(59
)
 
 
44.30

 
 
 
 
(46
)
 
 
48.49

 
 
 
Expired
(16
)
 
 
68.00

 
 
 
 
—

 
 
 
 
 
 
Outstanding at November 30, 2014
2,350

 
 
$
41.36

 
 
4.9
 
1,105

 
 
$
51.18

 
 
5.8
Granted
479

 
 
74.38

 
 
 
 
479

 
 
74.38

 
 
 
Exercised
(121
)
 
 
38.32

 
 
 
 
—

 
 
 
 
 
 
Forfeited
(39
)
 
 
68.93

 
 
 
 
(50
)
 
 
67.98

 
 
 
Outstanding at November 29, 2015
2,669

 
 
$
47.02

 
 
4.3
 
1,534

 

$
57.88

 
 
5.2
Vested and expected to vest at November 29, 2015
2,621

 
 
$
46.61

 
 
4.3
 
1,333

 
 
$
56.21

 
 
5.1
Exercisable at November 29, 2015
1,722

 
 
$
37.94

 
 
3.6
 
—

 
 
$
—

 
 
0
Stock appreciation rights, valuation assumptions
The weighted-average grant date fair values and corresponding weighted-average assumptions used in the model were as follows:
 
Service SARs Granted
 
Performance-based SARs Granted
 
2015
 
2014
 
2013
 
2015
2014
2013
 
 
 
 
 
 
 
 
 
 
Weighted-average grant date fair value
$
18.24

 
$
14.62

 
$
12.21

 
$
18.73

$
15.75

$
12.54

 
 
 
 
 
 
 
 
 
 
Weighted-average assumptions:
 
 
 
 
 
 
 
 
 
Expected life (in years)
4.7

 
4.7

 
4.6

 
5.0

5.0

5.0

Expected volatility(1)
31.8
%
 
31.8
%
 
43.2
%
 
31.8
%
33.1
%
42.6
%
Risk-free interest rate
1.2
%
 
1.5
%
 
0.8
%
 
1.3
%
1.6
%
0.9
%
Expected dividend
1.6
%
 
1.2
%
 
1.7
%
 
1.6
%
1.2
%
1.7
%
Restricted stock units award activity
RSU activity during the years ended November 29, 2015, and November 30, 2014, was as follows:
 
 
Units
 
Weighted-Average Fair Value
 
 
 
(Units in thousands)
 
 
Outstanding at November 24, 2013
75

 
 
$
44.66

 
 
 
Granted
20

 
 
67.29

 
 
 
Converted
(23
)
 
 
44.85

 
 
 
Outstanding at November 30, 2014
72

 
 
$
50.75

 
 
 
Granted
18

 
 
77.14

 
 
 
Converted
(24
)
 
 
49.55

 
 
 
Outstanding, vested and expected to vest at November 29, 2015
66

 
 
$
58.51

 
 
Total shareholder return plan activity
Liability award activity during the years ended November 29, 2015, and November 30, 2014, was as follows:
 
TSRPs
 
PRSUs
 
Units
 
Weighted-Average Exercise Price
 
Weighted-Average Fair Value At Period End
 
Units
 
Weighted-Average Exercise Price
 
Weighted-Average Fair Value At Period End
 
(Units in thousands)
Outstanding at November 24, 2013
416

 
 
$
36.96

 
 
 
$
25.42

 
 
404

 
 
$
38.19

 
 
 
$
62.75

 
Granted
—

 
 
—

 
 
 
 
 
 
222

 
 
64.57

 
 
 
 
 
Exercised
(174
)
 
 
42.65

 
 
 
 
 
 
—

 
 
—

 
 
 
 
 
Performance adjustment of PRSU
—

 
 
—

 
 
 
 
 
 
58

 
 
46.16

 
 
 
 
 
Forfeited
(104
)
 
 
33.85

 
 
 
 
 
 
(207
)
 
 
43.76

 
 
 
 
 
Outstanding at November 30, 2014
138

 
 
$
32.14

 
 
 
$
49.78

 
 
477

 
 
$
49.00

 
 
 
$
82.00

 
Granted
—

 
 
—

 
 
 
 
 
 
244

 
 
74.34

 
 
 
 
 
Exercised
(134
)
 
 
32.13

 
 
 
 
 
 
—

 
 
—

 
 
 
 
 
Performance adjustment of PRSU
—

 
 
—

 
 
 
 
 
 
(18
)
 
 
62.00

 
 
 
 
 
Forfeited
(4
)
 
 
32.76

 
 
 
 
 
 
(77
)
 
 
52.93

 
 
 
 
 
Outstanding at November 29, 2015
—

 
 
$
—

 
 
 
$
—

 
 
626

 
 
$
57.92

 
 
 
$
68.00

 
Vested and expected to vest at November 29, 2015
—

 
 
$
—

 
 
 
$
—

 
 
538

 
 
$
55.87

 
 
 
$
68.00

 
Exercisable at November 29, 2015
—

 
 
$
—

 
 
 
$
—

 
 
—

 
 
$
—

 
 
 
$
—

 
Total shareholder return plan, valuation assumptions
The weighted-average assumptions used in the TSRPs Black-Scholes model were as follows:
 
 
TSRPs Outstanding at
 
 
 
November 30, 2014
 
November 24, 2013
 
 
 
 
 
 
 
 
 
 
 
 
Weighted-average assumptions:
 
 
 
 
 
 
 
 
 
Expected life (in years)
 
0.1

 
 
 
0.6

 
 
 
Expected volatility
 
27.3
%
 
 
 
30.8
%
 
 
 
Risk-free interest rate
 
—

 
 
 
0.1
%
 
 
 
Expected dividend
 
1.2
%
 
 
 
1.1
%