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STOCK OPTIONS AND OTHER SHARE-BASED COMPENSATION (Tables) | 12 Months Ended
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Dec. 29, 2023
Share-Based Payment Arrangement [Abstract] |
Schedule of Classification of Share-based Compensation Expense | The following table summarizes the amounts and classification of share-based compensation expense:
| Fiscal Year Ended
(In millions) | December 29, 2023 |  | December 30, 2022 |  | December 31, 2021
Total expense | $ | 89 |  |  | $ | 109 |  |  | $ | 129 |
Included in: |  |  |  |  |
Cost of product sales and services | $ | 16 |  |  | $ | 19 |  |  | $ | 14 |
General and administrative expenses | 73 |  |  | 90 |  |  | 115 |
Income from continuing operations | 89 |  |  | 109 |  |  | 129 |
Tax effect on share-based compensation expense | (19) |  |  | (27) |  |  | (33) |
Total share-based compensation expense after-tax | $ | 70 |  |  | $ | 82 |  |  | $ | 96 |
Schedule of Assumptions Used In Calculating Fair Value of Stock Option Grants | A summary of the assumptions used in determining the fair value of the stock option grants under our L3Harris SIPs is as follows:
| Fiscal Year Ended
| December 29, 2023 |  | December 30, 2022 |  | December 31, 2021
Expected dividends | 2.17% |  | 2.00% |  | 1.99%
Expected volatility | 28.60% |  | 29.09% |  | 31.71%
Risk-free interest rates | 3.48% - 4.27% |  | 1.63% - 4.27% |  | 0.75%
Expected term (years) | 5.04 |  | 5.02 |  | 5.05
Schedule of Stock Option Activity | A summary of stock option activity under our L3Harris SIPs as of December 29, 2023 and changes during fiscal 2023 is as follows:
| Shares |  | Weighted Average Exercise Price Per Share |  | Weighted Average Remaining Contractual Term (In years) |  | Aggregate Intrinsic Value (In millions)
Stock options outstanding at December 30, 2022 | 3,306,129 |  |  | $ | 162.56 |  |  |  |  |
Granted | 366,670 |  |  | $ | 209.88 |  |  |  |  |
Exercised | (230,702) |  |  | $ | 100.03 |  |  |  |  |
Forfeited or expired | (191,387) |  |  | $ | 210.31 |  |  |  |  |
Stock options outstanding at December 29, 2023 | 3,250,710 |  |  | $ | 169.53 |  |  | 5.42 |  | $ | 140 |
Stock options exercisable at December 29, 2023 | 2,669,082 |  |  | $ | 160.11 |  |  | 4.74 |  | $ | 138 |
Schedule of Nonvested Stock Options Activity | A summary of the status of our nonvested stock options at December 29, 2023 and changes during fiscal 2023 is as follows:
| Shares |  | Weighted-Average Grant-Date Fair Value Per Share
Nonvested stock options at December 30, 2022 | 685,718 |  |  | $ | 46.76 |
Granted | 366,670 |  |  | $ | 54.63 |
Vested/forfeited, net | (470,760) |  |  | $ | 43.21 |
Nonvested stock options at December 29, 2023 | 581,628 |  |  | $ | 52.72 |
Schedule of Restricted Stock Units Activity | A summary of the status of these awards at December 29, 2023 and changes during fiscal 2023 is as follows:
| Units |  | Weighted-Average Grant Price Per Unit
Restricted stock units outstanding at December 30, 2022 | 673,495 |  |  | $ | 211.16 |
Granted | 354,657 |  |  | $ | 199.33 |
Vested | (223,855) |  |  | $ | 198.24 |
Forfeited | (76,245) |  |  | $ | 205.77 |
Restricted stock units outstanding at December 29, 2023 | 728,052 |  |  | $ | 208.78 |
Schedule of Performance Shares Activity | A summary of the status of these awards at December 29, 2023 and changes during fiscal 2023 is as follows:
| Units |  | Weighted-Average Grant Price Per Unit(1)
Performance share units outstanding at December 30, 2022 | 524,343 |  |  | $ | 224.94 |
Granted | 180,118 |  |  | $ | 223.09 |
Adjustment(1) | 14,771 |  |  | $ | 228.29 |
Vested | (182,808) |  |  | $ | 228.29 |
Forfeited | (56,083) |  |  | $ | 236.80 |
Performance share units outstanding at December 29, 2023 | 480,341 |  |  | $ | 222.73 |
______________ (1) Adjustment for achievement of performance measures.

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