Stock-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2016

Cash Received, Windfall Tax Benefits, and Intrinsic Value from Stock Option Exercises

The cash received, the windfall tax benefits, and intrinsic value from stock option exercises for fiscal years 2016, 2015, and 2014 are set forth below (amounts in thousands):

	Fiscal 2016		Fiscal 2015		Fiscal 2014
Cash received from option exercises	$	27,631	$	19,617	$	21,014
Cash tax windfall benefit, net	$	3,746	$	7,660	$	4,572
Intrinsic value of stock options exercised	$	15,778	$	24,590	$	16,725

Payout Determined from Total Shareholder Return Shares

The Company TSR compared to the Peer Group TSR will determine the payout as set forth below (the “TSR Modifier”):

Percentile	Payout as % of Target
90th		200	%
70th		150	%
50th		100	%
30th		50	%
Below 30th		0	%

Performance-Contingent Restricted Stock Awards

The table below presents the TSR Modifier share adjustment, ROIC Modifier share adjustment, accumulated dividends on vested shares, and the tax windfall/shortfall at vesting of the performance-contingent restricted stock awards (amounts in thousands except for share data):

Award granted	Fiscal year vested	TSR Modifier increase/(decrease) shares			ROIC Modifier increase/(decrease) shares			Dividends at vesting (thousands)		Tax windfall/(shortfall)			Fair value at vesting
2014	2016		(248,872	)		(13,637	)	$	441	$	(3,090	)	$	7,173
2013	2015		(48,069	)		100,090		$	859	$	1,430		$	18,378
2012	2014		193,756			50,939		$	429	$	2,668		$	13,748

Performance-Contingent Restricted Stock Activity

A summary of the status of all of the company’s nonvested shares for performance-contingent restricted stock (including the TSR Shares and the ROIC Shares) for fiscal 2016, 2015 and 2014 is set forth below (amounts in thousands, except price data):

	Fiscal 2016					Fiscal 2015					Fiscal 2014
	Number of Shares			Weighted AverageFair Value		Number of Shares			Weighted Average Fair Value		Number of Shares			Weighted Average Fair Value
Balance at beginning of year		1,349		$	21.26		1,404		$	19.09		1,229		$	15.88
Initial grant		801		$	22.83		829		$	20.18		732		$	22.72
Supplemental grant for exceeding ROIC modifier		—		$	—		100		$	14.37		51		$	14.37
Supplemental grant for exceeding the TSR modifier		—		$	—		—		$	—		194		$	15.45
Vested		(312	)	$	22.02		(853	)	$	16.22		(759	)	$	16.11
Grant reduction for not achieving the ROIC modifier		(249	)	$	23.97		—		$	—		—		$	—
Grant reduction for not achieving the TSR modifier		(14	)	$	21.47		(48	)	$	17.22		—		$	—
Forfeitures		(32	)	$	23.60		(83	)	$	20.99		(43	)	$	19.73
Balance at end of year		1,543		$	21.53		1,349		$	21.26		1,404		$	19.09

Deferred and Restricted Stock Activity

The deferred and restricted stock activity for fiscal years 2016, 2015, and 2014 is set forth below (amounts in thousands, except price data):

	Fiscal 2016					Fiscal 2015					Fiscal 2014
	Number of Shares			Weighted Average Fair Value		Number of Shares			Weighted Average Fair Value		Number of Shares			Weighted Average Fair Value
Nonvested shares at beginning of year		126		$	21.89		151		$	21.06		177		$	18.92
Granted		95		$	19.30		70		$	21.59		117		$	20.24
Vested		(72	)	$	21.59		(95	)	$	20.28		(123	)	$	17.81
Forfeited		—		$	—		—		$	—		(20	)	$	18.93
Nonvested shares at end of year		149		$	20.39		126		$	21.89		151		$	21.06
Vested and deferred shares at end of year		331					222					169

Stock Appreciation Rights Activity

The rights activity for fiscal years 2016, 2015, and 2014 is set forth below (amounts in thousands, except price data):

	Fiscal 2016			Fiscal 2015			Fiscal 2014
Balance at beginning of year		14			29			141
Rights exercised		(14	)		(15	)		(112	)
Balance at end of year		—			14			29
Weighted average — grant date fair value	$	—		$	8.67		$	8.47

Summary of Company's Stock Based Compensation Expense

The following table summarizes the company’s stock-based compensation expense, all of which was recognized in selling, distribution, and administration expense, for fiscal years 2016, 2015 and 2014 (amounts in thousands):

	Fiscal 2016			Fiscal 2015		Fiscal 2014
Stock options	$	—		$	—	$	197
Performance-contingent restricted stock awards		16,611			13,369		16,544
Deferred stock awards		2,161			2,205		2,176
Stock appreciation rights (income) expense		(11	)		118		(255	)
Total stock-based compensation expense	$	18,761		$	15,692	$	18,662

Total Shareholders Return

Payout Percentage of Total Shareholder Return Shares

The table below presents the payout percentage for each of the TSR awards:

Award	Fiscal yearvested	Payout (%)
2012 award	Fiscal 2014	195
2013 award	Fiscal 2015	88
2014 award	Fiscal 2016	27

Performance Contingent Return On Invested Capital Shares

Payout Percentage of Total Shareholder Return Shares

The table below presents the payout percentage for each of the ROIC awards:

Award	Fiscal yearvested	Payout (%)
2012 award	Fiscal 2014	125
2013 award	Fiscal 2015	125
2014 award	Fiscal 2016	96

Stock Option

Stock Option Activity

The stock option activity for fiscal years 2016, 2015, and 2014 pursuant to the EPIP is set forth below (amounts in thousands, except price data):

	Fiscal 2016					Fiscal 2015					Fiscal 2014
	Options			Weighted Average Exercise Price		Options			Weighted Average Exercise Price		Options			Weighted Average Exercise Price
Outstanding at beginning of year		4,353		$	10.97		6,191		$	10.88		8,112		$	10.89
Exercised		(2,507	)	$	11.02		(1,838	)	$	10.67		(1,921	)	$	10.94
Outstanding at end of year		1,846		$	10.89		4,353		$	10.97		6,191		$	10.88
Exercisable at end of year		1,846					4,353					6,191

Performance-Contingent Total Shareholder Return Shares

Performance Contingent TSR Shares, ROIC Shares and Restricted Stock Awards

The following performance-contingent TSR Shares have been granted under the EPIP (2014) and the Omnibus Plan (2015) and have service period remaining (amounts in thousands, except price data):

Grant date	January 3,2016		January 4, 2015
Shares granted		401		414
Assumed vesting date	2/21/2018		2/23/2017
Fair value per share	$	24.17	$	21.21

Return On Invested Capital

Performance Contingent TSR Shares, ROIC Shares and Restricted Stock Awards

The following performance-contingent ROIC Shares have been granted under the EPIP (2014) and the Omnibus Plan (2015) and have service period remaining (amounts in thousands, except price data):

Grant date	January 3, 2016		January 4, 2015
Shares granted		401		414
Assumed vesting date	2/21/2018		2/23/2017
Fair value per share	$	21.49	$	19.14