Share-Based Compensation (Tables)

	Three Months Ended
(In millions)	April 4, 2015		March 29, 2014
Compensation expense	$	31	$	34
Income tax benefit	(11)		(12)
Total net compensation expense included in net income	$	20	$	22

	Three Months Ended
	April 4, 2015		March 29, 2014
Fair value of options at grant date	$	14.03	$	12.72
Dividend yield	0.2%		0.2%
Expected volatility	34.9%		34.5%
Risk-free interest rate	1.5%		1.5%
Expected term (in years)	4.8		5.0

The stock option activity during the first quarter of 2015 is provided below:

(Options in thousands)	Number of Options	Weighted- Average Exercise Price
Outstanding at beginning of period	8,637	$	29.99
Granted	1,492	44.31
Exercised	(452)	(27.20)
Forfeited or expired	(137)	(45.95)
Outstanding at end of period	9,540	$	32.13
Exercisable at end of period	6,213	$	28.16

The activity for restricted stock units payable in both stock and cash during the first quarter of 2015 is provided below:

	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	906	$	30.59	1,666	$	29.84
Granted	167	44.31		364	44.31
Vested	(139)	(27.02)		(405)	(24.42)
Forfeited	—	—		(21)	(32.27)
Outstanding at end of period, nonvested	934	$	33.53	1,604	$	34.47

The activity for our performance share units during the first quarter of 2015 is provided below:

(Units in thousands)	Number of Units	Weighted- Average Grant Date Fair Value
Outstanding at beginning of year, nonvested	677	$	33.38
Granted	257	44.31
Outstanding at end of period, nonvested	934	$	36.39