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Share-Based Compensation (Tables) | 6 Months Ended
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Jul. 02, 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:
| Six Months Ended
| July 2, 2016 |  | July 4, 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 |  |  | $ | 11 |
Weighted-average grant date fair value of SARs granted (per underlying share) | $ | 19.95 |  |  | $ | 35.25 |
Summary of SARs Activity | SARs activity was as follows:
| Six Months Ended July 2, 2016
SARs | Shares |  | Weighted- Average Exercise Price
Outstanding at beginning of period | 1,397,611 |  |  | $ | 56.78 |
Granted | 607,846 |  |  | 51.55 |
Exercised | (39,830 | ) |  | 40.06 |
Forfeited | (40,539 | ) |  | 64.66 |
Expired | (1,417 | ) |  | 74.72 |
Outstanding at end of period | 1,923,671 |  |  | 55.14 |
Exercisable at end of period | 946,826 |  |  | 43.73 |
Intrinsic value of exercised SARs (in millions) | $ | 1 |  |  |
Schedule of Outstanding and Exercisable Options | The following table summarizes information about SARs outstanding at July 2, 2016:
| July 2, 2016
| Outstanding |  | Exercisable
Aggregate intrinsic value (in millions) | $ | 26 |  |  | $ | 20 |
Weighted-average remaining contractual term | 7.4 years |  | 5.4 years
Summary of Restricted Stock Award Activity | Restricted stock award activity was as follows:
| Six Months Ended July 2, 2016
Restricted Stock Awards | Shares |  | Weighted-Average Grant Date Fair Value
Outstanding at beginning of period | 566,447 |  |  | $ | 77.68 |
Granted | 377,017 |  |  | 51.38 |
Released | (223,318 | ) |  | 55.74 |
Forfeited | (18,520 | ) |  | 73.58 |
Outstanding at end of period | 701,626 |  |  | 70.47 |
Summary of Performance Share Award Activity | Performance stock award activity was as follows:
| Six Months Ended July 2, 2016
Performance Stock Awards | Shares |  | Weighted-Average Grant Date Fair Value
Outstanding at beginning of period | 332,630 |  |  | $ | 73.40 |
Granted | 179,385 |  |  | 50.36 |
Released | (108,371 | ) |  | 46.07 |
Forfeited | (6,363 | ) |  | 71.33 |
Outstanding at end of period | 397,281 |  |  | 70.18 |
Restricted stock unit activity was as follows:
| Six Months Ended July 2, 2016
Restricted Stock Units | Shares
Outstanding at beginning of period | 38,746 |
Granted | 31,194 |
Exercised | (7,585 | )
Forfeited | (1,485 | )
Outstanding at end of period | 60,870 |
Weighted-Average Assumptions Used for Employee Purchase Rights Granted Under Stock Purchase Plan | The fair value of the purchase rights issued to employees under the stock purchase plan is estimated using the following weighted-average assumptions for purchase rights granted. An expected life of 3 months was used to calculate the fair value.
| Six Months Ended
| July 2, 2016 |  | July 4, 2015
Fair market value | $ | 60.28 |  |  | $ | 82.68 |
Option price | $ | 57.26 |  |  | $ | 78.55 |
Expected dividend yield | 0 | % |  | 0 | %
Expected volatility | 58 | % |  | 27 | %
Risk free interest rate | 0.21 | % |  | 0.04 | %

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- Definition Tabular disclosure of the number and weighted-average exercise prices (or conversion ratios) for stock appreciation rights awards that were outstanding at the beginning and end of the year, and the number of stock appreciation rights awards that were granted, exercised or converted, forfeited, and expired during the year. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(1) -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901 + Details
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