Stock Compensation (Tables)

6 Months Ended

Jul. 01, 2017

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Schedule of Compensation Expense for Equity-Based Programs and Related Income Tax Benefits

	Quarter ended				Year-to-date period ended
(millions)	July 1, 2017		July 2, 2016		July 1, 2017		July 2, 2016
Pre-tax compensation expense	$	21	$	17	$	39	$	33
Related income tax benefit	$	8	$	6	$	14	$	12

Summary of Stock Option Activity

Year-to-date period ended July 1, 2017:

Employee and director stock options	Shares (millions)		Weighted- average exercise price		Weighted- average remaining contractual term (yrs.)	Aggregate intrinsic value (millions)
Outstanding, beginning of period	15		$	62
Granted	2		73
Exercised	(1	)	57
Forfeitures and expirations	—		—
Outstanding, end of period	16		$	64	7.0	$	109
Exercisable, end of period	11		$	60	6.1	$	104

Year-to-date period ended July 2, 2016:

Employee and director stock options	Shares (millions)		Weighted- average exercise price		Weighted- average remaining contractual term (yrs.)	Aggregate intrinsic value (millions)
Outstanding, beginning of period	19		$	58
Granted	3		76
Exercised	(4	)	56
Forfeitures and expirations	—		—
Outstanding, end of period	18		$	61	7.2	$	335
Exercisable, end of period	10		$	57	6.2	$	247

Schedule of Fair Value Assumptions

	Weighted- average expected volatility		Weighted- average expected term (years)	Weighted- average risk-free interest rate		Dividend yield
Grants within the year-to-date period ended July 1, 2017:	18	%	6.6	2.26	%	2.80	%
Grants within the year-to-date period ended July 1, 2016:	17	%	6.9	1.60	%	2.60	%

Maximum Future Value of Performance Shares

(millions)	July 1, 2017
2015 Award	$	22
2016 Award	$	24
2017 Award	$	26

Schedule of Restricted Stock Activity

ended July 1, 2017:

Employee restricted stock and restricted stock units	Shares (thousands)		Weighted-average grant-date fair value
Non-vested, beginning of year	1,166		$	63
Granted	654		67
Vested	(35	)	57
Forfeited	(72	)	65
Non-vested, end of period	1,713		$	65

Year-to-date period ended July 2, 2016:

Employee restricted stock and restricted stock units	Shares (thousands)		Weighted-average grant-date fair value
Non-vested, beginning of year	806		$	58
Granted	574		70
Vested	(51	)	55
Forfeited	(55	)	62
Non-vested, end of period	1,274		$	63