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Share-Based Compensation (Tables)
3 Months Ended
Apr. 04, 2020
Share-Based Compensation  
Compensation expense included in net income

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             

Three Months Ended

April 4,

March 30,

(In millions)

2020

2019

Compensation (income) expense

  $

(13)

  $

44

Income tax expense (benefit)

 

3

 

(11)

Total net compensation (income) expense included in net income

  $

(10)

  $

33

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

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             

March 1,

March 1,

2020

2019

Fair value of options at grant date

  $

10.66

  $

14.62

Dividend yield

 

0.2

%  

 

0.2

%

Expected volatility

 

29.3

%  

 

26.6

%

Risk-free interest rate

 

1.1

%  

 

2.5

%

Expected term (in years)

 

4.7

 

4.7

Stock option activity

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             

    

Weighted-

Number of

Average Exercise

(Options in thousands)

Options

 Price

Outstanding at January 4, 2020

 

8,744

  $

44.00

Granted

 

1,728

 

40.60

Exercised

 

(169)

 

(31.48)

Forfeited or expired

 

(66)

 

(51.93)

Outstanding at April 4, 2020

 

10,237

  $

43.58

Exercisable at April 4, 2020

 

7,018

  $

41.83

Restricted Stock Units  
Share-Based Compensation  
Unit period activity, Nonvested, Weighted average grant date fair value

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             

Units Payable in Stock

Units Payable in Cash

Weighted-

Weighted-

Number of

Average Grant

Number of

Average Grant

(Shares/Units in thousands)

Shares

Date Fair Value

Units

Date Fair Value

Outstanding at January 4, 2020, nonvested

 

543

  $

49.44

 

1,104

  $

49.61

Granted

 

134

 

40.60

 

358

 

40.60

Vested

 

(136)

 

(42.31)

 

(272)

 

(42.33)

Forfeited

 

 

 

(11)

 

(50.25)

Outstanding at April 4, 2020, nonvested

 

541

  $

49.05

 

1,179

  $

48.54

Fair value of awards vested and cash paid during respective periods

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             

Three Months Ended

April 4,

March 30,

(In millions)

2020

2019

Fair value of awards vested

  $

17

  $

22

Cash paid

 

11

 

16

Performance Share Units  
Share-Based Compensation  
Unit period activity, Nonvested, Weighted average grant date fair value

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             

    

Weighted-

Number of

Average Grant

(Units in thousands)

Units

Date Fair Value

Outstanding at January 4, 2020, nonvested

 

411

  $

56.03

Granted

 

276

 

40.60

Outstanding at April 4, 2020, nonvested

 

687

  $

49.84