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Share-Based Compensation (Tables)
 3 Months Ended
Apr. 01, 2023
Share-Based Payment Arrangement [Abstract]  
Compensation Expense Included in Net Income Compensation expense included in net income for our share-based compensation plan is as follows:
Three Months Ended
(In millions)April 1,
2023		April 2,
2022
Compensation expense$45 $34 
Income tax benefit(11)(8)
Total compensation expense included in net income$34 $26 
Weighted-Average Fair Value of Stock Options and Assumptions Used in Option-Pricing Model The assumptions used in our option-pricing model for these grants and the weighted-average fair value for these options are as follows:
March 1, 2023March 1, 2022
Fair value of options at grant date$23.83$19.95
Dividend yield0.1%0.1%
Expected volatility29.4%29.2%
Risk-free interest rate4.2%1.9%
Expected term (in years)4.84.8
Stock Option Activity
The stock option activity during the first quarter of 2023 is provided below:
(Options in thousands)Number of
Options		Weighted-
Average
Exercise Price
Outstanding at December 31, 20228,310 $50.25 
Granted1,026 73.19 
Exercised(630)(42.84)
Forfeited or expired(60)(58.90)
Outstanding at April 1, 20238,646 $53.45 
Exercisable at April 1, 20236,263 $48.56 
Restricted Stock Units Activity
The activity for restricted stock units payable in both stock and cash during the first quarter of 2023 is provided below:
Units Payable in StockUnits 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 December 31, 2022, nonvested525 $52.99 1,086 $53.26 
Granted103 73.17 245 73.18 
Vested(218)(46.66)(463)(45.92)
Forfeited— — (32)(56.94)
Outstanding at April 1, 2023, nonvested410 $61.41 836 $63.02 
Fair Value of Awards Vested and Cash Paid During Respective Periods
The fair value of the restricted stock unit awards that vested and/or amounts paid under these awards is as follows:
Three Months Ended
(In millions)April 1,
2023		April 2,
2022
Fair value of awards vested$44 $24 
Cash paid34 17 
Performance Share Units Activity
The activity for our performance share units during the first quarter of 2023 is as follows:
(Units in thousands)Number of
Units		Weighted-
Average Grant
Date Fair Value
Outstanding at December 31, 2022, nonvested427 $59.51 
Granted209 73.19 
Outstanding at April 1, 2023, nonvested636 $64.01