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Share-Based Compensation (Tables)
3 Months Ended
Mar. 30, 2013
Share-Based Compensation  
Compensation expense recorded in net income for share based compensation plans

 

 

 

 

Three Months Ended

 

(In millions)

 

March 30,
2013

 

March 31,
2012

 

Compensation expense

 

$

30

 

$

46

 

Income tax benefit

 

(11

)

(17

)

Total net compensation cost included in net income

 

$

19

 

$

29

 

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

 

 

 

 

Three Months Ended

 

 

 

March 30,
2013

 

March 31,
2012

 

Fair value of options at grant date

 

$

9.69

 

$

10.19

 

Dividend yield

 

0.3

%

0.3

%

Expected volatility

 

37.0

%

40.0

%

Risk-free interest rate

 

0.9

%

0.8

%

Expected term (in years)

 

5.5

 

5.5

 

Stock option activity

 

 

(Options in thousands)

 

Number of
Options

 

Weighted-
Average
Exercise
Price

 

Outstanding at beginning of period

 

9,484

 

$

27.98

 

Granted

 

2,133

 

28.47

 

Exercised

 

(504

)

(21.90

)

Canceled, expired or forfeited

 

(842

)

(40.07

)

Outstanding at end of period

 

10,271

 

$

27.39

 

Exercisable at end of period

 

5,302

 

$

26.86

 

Restricted Stock Units
 
Share-based Compensation Arrangement by Share-based Payment Award  
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

 

710

 

$

29.94

 

2,540

 

$

20.79

 

Granted

 

257

 

28.47

 

583

 

28.43

 

Vested

 

(107

)

(42.53

)

(595

)

(15.99

)

Forfeited

 

(30

)

(27.94

)

(148

)

(23.91

)

Outstanding at end of period, nonvested

 

830

 

$

27.93

 

2,380

 

$

23.67

 

Fair value of awards vested and cash paid during respective periods

 

 

 

 

Three Months Ended

 

(In millions)

 

March 30,
2013

 

March 31,
2012

 

Fair value of awards vested

 

$

21

 

$

30

 

Cash paid

 

18

 

21

 

Performance share units
 
Share-based Compensation Arrangement by Share-based Payment Award  
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

 

875

 

$

27.14

 

Granted

 

418

 

28.47

 

Forfeited

 

(41

)

(27.42

)

Outstanding at end of period, nonvested

 

1,252

 

$

27.57