Share-Based Compensation (Tables)

9 Months Ended

Oct. 01, 2016

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

Weighted-Average Assumptions Used for Grants of Stock Options and SARs

The following table shows the weighted-average assumptions used for grants of SARs as well as the fair value based on those assumptions:

	Nine Months Ended
	October 1, 2016		October 3, 2015
Expected dividend yield	0%		0%
Forfeiture rate	9.01%		10.24%
Volatility	43.14%		33.98%
Risk free interest rate	1.29%		1.53%
Range of interest rates	0.25% - 1.75%		0.02% - 2.14%
Expected weighted-average life	5.33 years		5.32 years
Fair value of SARs granted (in millions)	$	12	$	12
Weighted-average grant date fair value of SARs granted (per underlying share)	$	20.06	$	35.25

Summary of Stock Awards Activity

The following table summarizes the stock awards activity:

	Nine Months Ended October 1, 2016
Stock Awards	Shares			Weighted- Average Exercise Price
Outstanding at beginning of period	1,397,611			$	56.68
Granted	618,866			51.83
Exercised	(58,384		)	39.71
Forfeited	(52,858		)	65.26
Expired	(5,577		)	81.27
Outstanding at end of period	1,899,658			55.22
Exercisable at end of period	933,358			43.92
Intrinsic value of exercised SARs (in millions)	$	2

Schedule of Outstanding and Exercisable Options

The following table summarizes information about stock awards outstanding at October 1, 2016:

	Outstanding		Exercisable
Aggregate intrinsic value (in millions)	$	26	$	20
Weighted-average remaining contractual term	7.1 years		5.2 years

Summary of Restricted Stock Award Activity

A summary of the status of the Company's restricted stock awards, restricted stock units, performance stock awards and performance stock units activity was as follows:

	Nine Months Ended October 1, 2016
Restricted Stock Awards and Units	Shares		Weighted-Average Grant Date Fair Value
Outstanding at beginning of period	605,193		$	77.82
Granted
Restricted Stock Awards	381,278		51.60
Restricted Stock Units	31,194		51.42
Total shares granted	412,472
Released	(234,402	)	56.46
Forfeited	(28,112	)	79.34
Outstanding at end of period	755,151		70.25

Summary of Performance Share Award Activity

	Nine Months Ended October 1, 2016
Performance Stock Awards and Units	Shares		Weighted-Average Grant Date Fair Value
Outstanding at beginning of period	341,703		$	73.30
Granted
Performance Stock Awards	178,378		50.34
Performance Stock Units	—
Total shares granted	178,378
Released	(111,325	)	46.58
Forfeited	(6,819	)	74.22
Outstanding at end of period	401,937		70.44