XML 52 R37.htm IDEA: XBRL DOCUMENT v3.8.0.1
STOCK-BASED COMPENSATION (Tables)
 12 Months Ended
Dec. 30, 2017
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Summary of recorded stock-based compensation cost
The Company recorded stock-based compensation cost as follows:
 
For the fiscal years ended
(dollars in thousands)
December 30,
2017
 
December 31,
2016
 
January 2,
2016
Stock options
$
4,244

 
$
4,237

 
$
4,350

Restricted stock:
 
 
 
 
 
   Time-based awards
7,532

 
7,451

 
6,855

   Performance-based awards
4,602

 
3,974

 
4,728

   Stock awards
1,171

 
1,185

 
1,096

Total
$
17,549

 
$
16,847

 
$
17,029
Summary of stock option activity
Changes in the Company's stock options for the fiscal year ended December 30, 2017 were as follows:
 
Number of shares
 
Weighted- average exercise price
 
Weighted-average remaining contractual terms (years)
 
Aggregate intrinsic value
(in thousands)
 
 
 
 
 
 
 
 
Outstanding, December 31, 2016
1,441,210

 
$52.70
 
 
 
 
 
 
 
 
 
 
 
 
Granted
338,356

 
$84.29
 
 
 
 
Exercised
(240,850
)
 
$35.03
 
 
 
 
Forfeited
(40,828
)
 
$83.99
 
 
 
 
Expired
(3,665
)
 
$87.46
 
 
 
 
Outstanding, December 30, 2017
1,494,223

 
$61.76
 
5.87
 
$
83,277

 
 
 
 
 
 
 
 
Vested and Expected to Vest, December 30, 2017
1,422,339

 
$60.53
 
5.72
 
$
81,011

Exercisable, December 30, 2017
907,065

 
$46.77
 
4.19
 
$
64,145
Assumptions used for grants and summary of stock options and restricted stock activity
The table below presents the weighted-average assumptions used to calculate the fair value of options granted in each of the respective fiscal years:
 
For the fiscal years ended
 
December 30,
2017
 
December 31,
2016
 
January 2,
2016
Expected volatility
26.20
%
 
26.95
%
 
31.65
%
Risk-free interest rate
2.06
%
 
1.33
%
 
1.65
%
Expected term (years)
6.0

 
6.0
 
6.0
Dividend yield
1.77
%
 
1.45
%
 
1.06
%
Weighted average fair value of options granted
$
19.57

 
$
21.41

 
$
24.59
Summary of restricted stock award activity
The following table summarizes activity related to all restricted stock awards during the fiscal year ended December 30, 2017:
 
Restricted
stock
awards
 
Weighted-average grant-date
fair value
Outstanding, December 31, 2016
405,699

 
$
81.29

Granted
178,240

 
$
84.11

Vested
(168,471
)
 
$
74.00

Forfeited
(17,620
)
 
$
83.92

Outstanding, December 30, 2017
397,848

 
$
85.44
Summary of issued shares of common stock to non-management board members
Fiscal year
 
Number of shares granted
 
Weighted-average fair value per share
2015
 
50,600

 
$
82.40

2016
 
53,070

 
$
90.66

2017
 
60,952

 
$
83.84

During fiscal years 2017, 2016, and 2015, such awards were as follows:
 
Number of shares issued
 
Fair value per share
 
Aggregate value (in thousands)
2015
10,933
 
$100.21
 
$1,095
2016
12,758
 
$101.10
 
$1,290
2017
13,860
 
$84.46
 
$1,171