v3.25.4
Share-Based Compensation Share-Based Compensation (Tables)
12 Months Ended
Dec. 27, 2025
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:
202520242023
Share-based compensation expense - equity awards$288 $362 $380 
Share-based compensation expense - liability awards13 19 
Restructuring charges(8)(5)(1)
Total$293 $364 $398 
Income tax benefits recognized in earnings related to share-based compensation$53 $68 $73 
Excess tax benefits related to share-based compensation
$3 $33 $36 
Schedule Of Weighted-Average Black-Scholes Fair Value Assumptions
Our weighted-average Black-Scholes fair value assumptions are as follows:
202520242023
Expected life7 years7 years7 years
Risk-free interest rate4.1 %4.2 %4.2 %
Expected volatility16 %16 %16 %
Expected dividend yield3.5 %2.9 %2.7 %
Share-based Payment Arrangement, Option, Activity [Table Text Block]
A summary of our stock option activity for the year ended December 27, 2025 is as follows:
Options(a)
Weighted-Average Exercise
Price Per Unit
Weighted-Average Contractual
Life Remaining
(years)
Aggregate Intrinsic
Value(a)
Outstanding at December 28, 2024
11,055 $143.88 
Granted1,804 $150.28 
Exercised(896)$108.72 
Forfeited/expired(642)$163.52 
Outstanding at December 27, 2025
11,321 $146.60 6.0$100,992 
Exercisable at December 27, 2025
6,279 $134.10 4.2$98,385 
Expected to vest as of December 27, 2025
4,793 $162.45 8.2$2,468 
(a)In thousands.
Our RSU and PSU Activity
A summary of our RSU and PSU activity for the year ended December 27, 2025 is as follows:

RSUs/PSUs(a)
Weighted-Average
Grant-Date Fair Value Per Unit
Weighted-Average Contractual Life
Remaining (years)
Aggregate
Intrinsic
Value(a)
Outstanding at December 28, 2024
5,366 $166.09 
Granted2,199 $153.22 
Converted(1,849)$163.78 
Forfeited(607)$163.47 
Outstanding at December 27, 2025 (b)
5,109 $161.72 1.3$734,635 
Expected to vest as of December 27, 2025 (c)
4,411 $162.11 1.2$634,185 
(a)In thousands. Outstanding awards are disclosed at target.
(b)The outstanding PSUs for which the vesting period has not ended as of December 27, 2025, at the threshold, target and maximum award levels were zero, 0.7 million and 1.4 million, respectively.
(c)Represents the number of outstanding awards expected to vest, including estimated performance adjustments on all outstanding PSUs as of December 27, 2025.
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 27, 2025 is as follows:
Long-Term Cash
Award(a)
Balance Sheet Date Fair Value(b)
Contractual Life Remaining
(years)
Outstanding at December 28, 2024
$53,970 
Granted21,636 
Vested(11,274)
Forfeited(7,297)
Outstanding at December 27, 2025 (c)
$57,035 $36,064 1.2
Expected to vest as of December 27, 2025
$54,169 $33,597 1.2
(a)In thousands, disclosed at target.
(b)In thousands, based on the most recent valuation as of December 27, 2025.
(c)The outstanding awards for which the vesting period has not ended as of December 27, 2025, at the threshold, target and maximum award levels based on the achievement of its market conditions were zero, $57 million and $114 million, respectively.
Other Share-Based Compensation Data
The following is a summary of other share-based compensation data:
202520242023
Stock Options
Total number of options granted (a)
1,804 2,034 2,162 
Weighted-average grant-date fair value per unit of options granted$21.13 $27.29 $29.81 
Total intrinsic value of options exercised (a)
$35,558 $99,388 $100,209 
Total grant-date fair value of options vested (a)
$32,506 $14,759 $11,830 
RSUs/PSUs
Total number of RSUs/PSUs granted (a)
2,199 2,348 2,151 
Weighted-average grant-date fair value per unit of RSUs/PSUs granted$153.22 $164.25 $171.11 
Total intrinsic value of RSUs/PSUs converted (a)
$299,958 $372,612 $396,123 
Total grant-date fair value of RSUs/PSUs vested (a)
$300,591 $280,673 $286,605 
(a)In thousands.