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Stock-Based Compensation (Tables)
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12 Months Ended |
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Dec. 29, 2012
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| Share-based Compensation [Abstract] |
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| Summary of Compensation Costs |
The following table summarizes our total stock-based compensation expense: | | | | | | | | | | | | | | | | 2012 |
| | 2011 |
| | 2010 |
| Stock-based compensation expense | | $ | 278 |
| | $ | 326 |
| | $ | 299 |
| Merger and integration charges | | 2 |
| | 13 |
| | 53 |
| Restructuring and impairment (benefits) / charges | | (7 | ) | | 4 |
| | — |
| Total (a) | | $ | 273 |
| | $ | 343 |
| | $ | 352 |
| Income tax benefits recognized in earnings related to stock-based compensation | | $ | 73 |
| | $ | 101 |
| | $ | 89 |
|
(a) $86 million recorded in 2010 was related to the unvested PBG/PAS acquisition-related grants. |
| Schedule Of Weighted-Average Black-Scholes Fair Value Assumptions |
Our weighted-average Black-Scholes fair value assumptions are as follows: | | | | | | | | | |
| 2012 |
|
| 2011 |
|
| 2010 |
| Expected life | 6 years |
|
| 6 years |
|
| 5 years |
| Risk-free interest rate | 1.3 | % |
| 2.5 | % |
| 2.3 | % | Expected volatility | 17 | % |
| 16 | % |
| 17 | % | Expected dividend yield | 3.0 | % |
| 2.9 | % |
| 2.8 | % |
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| Stock Option Activity |
A summary of our stock-based compensation activity for the year ended December 29, 2012 is presented below: | | | | | | | | | | | | | | Our Stock Option Activity | Options(a) |
| Average Price(b) |
| Average Life (years)(c) |
| Aggregate Intrinsic Value(d) | Outstanding at December 31, 2011 | 91,075 |
|
| $ | 55.92 |
|
|
|
|
| Granted | 3,696 |
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| $ | 67.13 |
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|
|
|
| Exercised | (23,585 | ) |
| $ | 47.33 |
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|
|
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| Forfeited/expired | (3,041 | ) |
| $ | 63.81 |
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|
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| Outstanding at December 29, 2012 | 68,145 |
|
| $ | 59.15 |
|
| 5.04 |
| $ | 614,322 |
| Exercisable at December 29, 2012 | 48,366 |
|
| $ | 56.44 |
|
| 4.45 |
| $ | 567,761 |
| Expected to vest as of December 29, 2012 | 19,432 |
| | $ | 65.79 |
| | 7.85 | | $ | 45,374 |
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| | (a) | Options are in thousands and include options previously granted under PBG, PAS and Quaker legacy plans. No additional options or shares may be granted under the PBG, PAS and Quaker plans. |
| | (b) | Weighted-average exercise price. |
| | (c) | Weighted-average contractual life remaining. |
|
| Restricted Stock Units Activity |
| | | | | | | | | | | | | | Our RSU Activity | RSUs(a) |
| Average Intrinsic Value(b) |
| Average Life (years)(c) |
| Aggregate Intrinsic Value(d) | Outstanding at December 31, 2011 | 12,340 |
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| $ | 62.96 |
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|
|
|
| Granted | 4,404 |
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| $ | 66.64 |
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|
|
|
| Converted | (3,436 | ) |
| $ | 57.76 |
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|
|
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| Forfeited | (1,326 | ) |
| $ | 64.80 |
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|
|
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| Outstanding at December 29, 2012 | 11,982 |
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| $ | 65.60 |
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| 1.49 |
| $ | 815,051 |
| Expected to vest as of December 29, 2012 | 11,616 |
| | $ | 65.58 |
| | 1.34 | | $ | 790,128 |
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| | (a) | RSUs are in thousands and include RSUs previously granted under a PBG plan. No additional RSUs or shares may be granted under the PBG plan. |
| | (b) | Weighted-average intrinsic value at grant date. |
| | (c) | Weighted-average contractual life remaining. |
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| Our PEPUnit Activity |
| | | | | | | | | | | | | | Our PEPUnit Activity | PEPUnits(a) |
| Average Intrinsic Value(b) |
| Average Life (years)(c) |
| Aggregate Intrinsic Value(d) | Outstanding at December 31, 2011 | — |
|
| $ | — |
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|
|
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| Granted | 410 |
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| $ | 64.85 |
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|
|
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| Converted | — |
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| $ | — |
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|
|
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| Forfeited | (42 | ) |
| $ | 64.51 |
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|
|
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| Outstanding at December 29, 2012 | 368 |
|
| $ | 64.89 |
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| 2.26 |
| $ | 25,031 |
| Expected to vest as of December 29, 2012 | 334 |
| | $ | 64.85 |
| | 2.26 | | $ | 22,721 |
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| | (a) | PEPUnits are in thousands. |
| | (b) | Weighted-average intrinsic value at grant date. |
| | (c) | Weighted-average contractual life remaining. |
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| Other Stock-Based Compensation Data |
| | | | | | | | | | | | |
| 2012 |
|
| 2011 |
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| 2010 |
| Stock Options |
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|
|
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| Weighted-average fair value of options granted | $ | 6.86 |
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| $ | 7.79 |
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| $ | 13.93 |
| Total intrinsic value of options exercised(a) | $ | 512,636 |
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| $ | 385,678 |
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| $ | 502,354 |
| RSUs |
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|
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| Total number of RSUs granted(a) | 4,404 |
|
| 5,333 |
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| 8,326 |
| Weighted-average intrinsic value of RSUs granted | $ | 66.64 |
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| $ | 63.87 |
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| $ | 65.01 |
| Total intrinsic value of RSUs converted(a) | $ | 236,575 |
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| $ | 173,433 |
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| $ | 202,717 |
| PEPUnits | | | | | | Total number of PEPUnits granted(a) | 410 |
| | — |
| |
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| Weighted-average intrinsic value of PEPUnits granted | $ | 64.85 |
| | $ | — |
| |
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| Total intrinsic value of PEPUnits converted(a) | — |
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