Equity Incentive Plans (Tables)

12 Months Ended

Jan. 02, 2022

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Stock Options Activity Related to Equity Incentive Plans

Stock option activity related to the 2004 Equity Incentive Plan is summarized as follows:

	Common Stock Options
	Outstanding			Weighted Average Exercise Price		Weighted Average Remaining Life		Aggregate Intrinsic Value
						(Years)		(In thousands)
Stock options at December 30, 2018		1,909,399		$	72.86
Stock options granted		96,280			272.64
Stock options cancelled		(33,667	)		196.47
Stock options exercised		(425,601	)		30.70
Stock options at December 29, 2019		1,546,411		$	94.21
Stock options granted		52,730			413.80
Stock options cancelled		(9,792	)		268.94
Stock options exercised		(756,683	)		40.93
Stock options at January 3, 2021		832,666		$	160.82
Stock options granted		42,742			367.79
Stock options cancelled		(11,990	)		333.61
Stock options exercised		(199,301	)		98.76
Stock options at January 2, 2022		664,117		$	189.64		5.1	$	248,836
Exercisable at January 2, 2022		545,050			155.82		4.4	$	222,656

Stock Option Valuation Assumptions

The weighted average assumptions used in estimating the fair value of each stock option granted in 2021, 2020 and 2019 using the Black-Scholes option pricing method are presented in the following table:

	2021			2020			2019
Risk-free interest rate		1.0	%		0.3	%		1.9	%
Expected life	5.25 years			5.5 years			5.5 years
Expected volatility		30.0	%		30.0	%		25.0	%
Expected dividend yield		1.0	%		0.8	%		0.9	%
Weighted average fair value per stock option	$	93.46		$	105.76		$	64.66

Resticted Stock and Performance Based Restricted Stock Activity Related to Equity Incentive Plans

Activity related to restricted stock awards and units and performance-based restricted stock awards and units awarded under the 2004 Equity Incentive Plan is summarized as follows:

	Shares			Weighted Average Grant Date Fair Value (1)
Nonvested at December 30, 2018		190,379		$	213.57
Shares granted		67,570			275.06
Shares cancelled		(17,923	)		230.60
Shares vested		(68,956	)		175.84
Nonvested at December 29, 2019		171,070		$	251.29
Shares granted		42,780			398.08
Shares cancelled		(8,345	)		273.70
Shares vested		(58,743	)		221.58
Nonvested at January 3, 2021		146,762		$	304.69
Shares granted		59,801			382.79
Shares cancelled		(12,924	)		340.94
Shares vested		(48,378	)		287.41
Nonvested at January 2, 2022		145,261		$	339.37

Restricted Stock [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Stock Option Valuation Assumptions

The weighted average assumptions used in estimating the fair value of each performance-based restricted stock unit granted in 2021 using the Monte-Carlo simulation pricing method are presented in the following table:

	2021
Risk-free interest rate		0.3	%
Expected life	2.75 years
Expected volatility		33.9	%
Weighted average fair value per performance-based restricted stock unit	$	375.85