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Share-Based Compensation (Tables)
12 Months Ended
Dec. 28, 2013
Share-Based Compensation  
Compensation expense recorded in net income for share based compensation plans

 

 

(In millions)

 

 

2013

 

 

2012

 

2011

 

Compensation expense

 

 

 

$

86

 

 

 

$

71

 

 

$

50

 

Income tax benefit

 

 

 

(32

)

 

 

(26

)

 

(18

)

Total net compensation cost included in net income

 

 

 

$

54

 

 

 

$

45

 

 

$

32

 

 

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

 

 

 

 

2013

 

2012

 

2011

Fair value of options at grant date

 

$

 9.69

 

$

 10.19

 

$

 9.84

Dividend yield

 

0.3%

 

0.3%

 

0.3%

Expected volatility

 

37.0%

 

40.0%

 

38.0%

Risk-free interest rate

 

0.9%

 

0.9%

 

2.4%

Expected term (in years)

 

5.5

 

5.5

 

5.5

 

Stock option activity

 

 

(Options in thousands)

 

Number of
Options

 

Weighted-
Average
Exercise
Price

 

Outstanding at beginning of year

 

9,484

 

 

$

27.98

 

Granted

 

2,169

 

 

28.47

 

Exercised

 

(1,408

)

 

(23.38

)

Canceled, expired or forfeited

 

(1,227

)

 

(37.13

)

Outstanding at end of year

 

9,018

 

 

$

27.57

 

Exercisable at end of year

 

4,362

 

 

$

27.23

 

 

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

 

596

 

 

28.43

 

Vested

 

(146

)

 

(40.36

)

(720

)

 

(17.19

)

Forfeited

 

(41

)

 

(27.87

)

(391

)

 

(23.85

)

Outstanding at end of year, nonvested

 

780

 

 

$

27.56

 

2,025

 

 

$

23.73

 

 

Fair value of awards vested and cash paid during respective periods

 

 

(In millions)

 

2013

 

 

2012

 

2011

 

Fair value of awards vested

 

 

$

26

 

 

 

$

35

 

 

$

41

 

Cash paid

 

 

23

 

 

 

25

 

 

23

 

 

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

 

421

 

 

28.47

 

Vested

 

(344

)

 

(26.25

)

Forfeited

 

(57

)

 

(27.44

)

Outstanding at end of year, nonvested

 

895

 

 

$

28.08

 

 

Fair value of awards vested and cash paid during respective periods

 

 

(In millions)

 

 

2013

 

 

2012

 

2011

 

Fair value of awards vested

 

 

$

13

 

 

$

10

 

$

33

 

Cash paid

 

 

11

 

 

52

 

1