Share-Based Compensation (Tables)

12 Months Ended

Dec. 29, 2018

Share-Based Compensation

Compensation expense included in net income

(In millions)		2018		2017		2016
Compensation expense	$	35	$	77	$	71
Income tax benefit		(8)		(28)		(26)
Total net compensation expense included in net income	$	27	$	49	$	45

Weighted-average fair value of stock options and assumptions used in option-pricing model

		2018		2017		2016
Fair value of options at grant date	$	15.83	$	13.80	$	10.33
Dividend yield		0.1%		0.2%		0.2%
Expected volatility		26.6%		29.2%		33.6%
Risk-free interest rate		2.6%		1.9%		1.2%
Expected term (in years)		4.7		4.7		4.8

Stock option activity

(Options in thousands)	Number of Options		Weighted- Average Exercise Price
Outstanding at beginning of year	9,238	$	37.02
Granted	1,353		58.22
Exercised	(2,098)		(35.30)
Forfeited or expired	(209)		(50.49)
Outstanding at end of year	8,284	$	40.58
Exercisable at end of year	5,391	$	34.95

Restricted Stock Units

Share-Based Compensation

Unit period activity, Nonvested, Weighted average grant date fair value

	Units Payable in Stock			Units Payable in Cash
(Shares/Units in thousands)	Number of Shares		Weighted- Average Grant Date Fair Value	Number of Units		Weighted- Average Grant Date Fair Value
Outstanding at beginning of year, nonvested	668	$	40.55	1,263	$	40.75
Granted	130		58.17	270		58.24
Vested	(177)		(37.02)	(311)		(37.40)
Forfeited	(23)		(45.83)	(79)		(45.40)
Outstanding at end of year, nonvested	598	$	45.22	1,143	$	45.48

Fair value of awards vested and cash paid during respective periods

(In millions)		2018		2017		2016
Fair value of awards vested	$	25	$	27	$	20
Cash paid		18		19		12

Performance Share Units

Share-Based Compensation

Unit period activity, Nonvested, Weighted average grant date fair value

(Units in thousands)	Number of Units		Weighted- Average Grant Date Fair Value
Outstanding at beginning of year, nonvested	485	$	41.34
Granted	201		58.02
Vested	(257)		(34.50)
Forfeited	(25)		(46.74)
Outstanding at end of year, nonvested	404	$	53.63

Fair value of awards vested and cash paid during respective periods

(In millions)		2018		2017		2016
Fair value of awards vested	$	12	$	15	$	14
Cash paid		11		15		13