v3.25.2
Employee Benefit and Stock Incentive Plans (Tables)
 6 Months Ended
Jun. 29, 2025
Share-Based Payment Arrangement [Abstract]  
Schedule of Stock-based Compensation Activities
A summary of stock-based compensation activities during the six months ended June 29, 2025 was as follows (in thousands):
Stock OptionsRSUsDSUsPSUs
Outstanding as of December 29, 2024704.8 288.8 58.1 95.9 
Granted— 162.3 4.5 56.7 
Exercised/Vested/Settled(a)
(19.1)(87.6)— — 
Expired or forfeited(3.2)(12.2)— (24.6)
Outstanding as of June 29, 2025682.5 351.3 62.6 128.0 
______________
(a)    Does not include 32.6 thousand stock options and 92.1 thousand RSUs granted to retirement eligible associates under the Rule of 65. While these shares immediately vested, they have not been settled.
There were no stock options granted during the periods presented. The weighted average grant date fair value of awards granted were as follows:
June 29, 2025June 30, 2024
RSUs$134.39 $157.47 
DSUs$124.42 $156.14 
PSUs(a)
$135.83 $157.59 
Schedule of DSU Activity
A summary of stock-based compensation activities during the six months ended June 29, 2025 was as follows (in thousands):
Stock OptionsRSUsDSUsPSUs
Outstanding as of December 29, 2024704.8 288.8 58.1 95.9 
Granted— 162.3 4.5 56.7 
Exercised/Vested/Settled(a)
(19.1)(87.6)— — 
Expired or forfeited(3.2)(12.2)— (24.6)
Outstanding as of June 29, 2025682.5 351.3 62.6 128.0 
______________
(a)    Does not include 32.6 thousand stock options and 92.1 thousand RSUs granted to retirement eligible associates under the Rule of 65. While these shares immediately vested, they have not been settled.
There were no stock options granted during the periods presented. The weighted average grant date fair value of awards granted were as follows:
June 29, 2025June 30, 2024
RSUs$134.39 $157.47 
DSUs$124.42 $156.14 
PSUs(a)
$135.83 $157.59 
Schedule of PSU Activity
A summary of stock-based compensation activities during the six months ended June 29, 2025 was as follows (in thousands):
Stock OptionsRSUsDSUsPSUs
Outstanding as of December 29, 2024704.8 288.8 58.1 95.9 
Granted— 162.3 4.5 56.7 
Exercised/Vested/Settled(a)
(19.1)(87.6)— — 
Expired or forfeited(3.2)(12.2)— (24.6)
Outstanding as of June 29, 2025682.5 351.3 62.6 128.0 
______________
(a)    Does not include 32.6 thousand stock options and 92.1 thousand RSUs granted to retirement eligible associates under the Rule of 65. While these shares immediately vested, they have not been settled.
There were no stock options granted during the periods presented. The weighted average grant date fair value of awards granted were as follows:
June 29, 2025June 30, 2024
RSUs$134.39 $157.47 
DSUs$124.42 $156.14 
PSUs(a)
$135.83 $157.59 
Schedule of RSU Activity
A summary of stock-based compensation activities during the six months ended June 29, 2025 was as follows (in thousands):
Stock OptionsRSUsDSUsPSUs
Outstanding as of December 29, 2024704.8 288.8 58.1 95.9 
Granted— 162.3 4.5 56.7 
Exercised/Vested/Settled(a)
(19.1)(87.6)— — 
Expired or forfeited(3.2)(12.2)— (24.6)
Outstanding as of June 29, 2025682.5 351.3 62.6 128.0 
______________
(a)    Does not include 32.6 thousand stock options and 92.1 thousand RSUs granted to retirement eligible associates under the Rule of 65. While these shares immediately vested, they have not been settled.
There were no stock options granted during the periods presented. The weighted average grant date fair value of awards granted were as follows:
June 29, 2025June 30, 2024
RSUs$134.39 $157.47 
DSUs$124.42 $156.14 
PSUs(a)
$135.83 $157.59 
______________
(a)    Includes PSUs granted and settled during the six months ended June 30, 2024 at greater than 100% of their original grant amount.
Schedule of Stock-Based Compensation Expense Recognized
A summary of stock-based compensation expenses recognized during the periods was as follows (in millions):
Three Months EndedSix Months Ended
June 29, 2025June 30, 2024June 29, 2025June 30, 2024
Stock options$0.3 $0.6 $1.0 $1.4 
RSUs(a)
3.8 3.5 15.1 12.0 
DSUs0.3 0.3 0.4 0.4 
PSUs(2.1)(0.6)(0.6)0.5 
Total stock-based compensation$2.3 $3.8 $15.9 $14.3 
______________
(a)    Stock-based compensation expense for the three and six months ended June 29, 2025 and June 30, 2024 included accelerated expense related to retirement eligible associates under the Rule of 65. These amounts on a net expense basis included $6.0 million related to RSUs for the six months ended June 29, 2025, and $4.1 million related to RSUs for the six months ended June 30, 2024.
Schedule of Unrecognized Stock-Based Compensation Expense
A summary of unrecognized stock-based compensation expense was as follows:
June 29, 2025December 29, 2024
Unrecognized Compensation
(in millions)		Weighted Average
Remaining Period		Unrecognized Compensation
(in millions)		Weighted Average
Remaining Period
Stock options$1.1 1.1 years$2.3 1.6 years
RSUs$31.0 2.8 years$25.7 2.6 years
DSUs$0.4 1.2 years$0.3 1.0 years
PSUs$10.9 2.0 years$6.9 1.8 years