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Incentive Plans and Stock-Based Compensation (Tables)
 9 Months Ended
Aug. 29, 2015
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Schedule of nonqualified stock option activity
The following table summarizes activity for the nine months ended August 29, 2015 with respect to stock options granted by the Company and includes options granted under the 1994 Incentive Plan, the 2004 Incentive Plan, the 2009 Incentive Plan and the 2014 Incentive Plan.

 
Options Granted
Under Incentive
Plans
 
Weighted
Average
Exercise Price
Outstanding at beginning of year
2,310,720
 
$
45.71

Granted
311,500
 
$
63.22

Exercised
(141,071)
 
$
38.99

Surrendered
(16,574)
 
$
52.04

Outstanding at end of period
2,464,575
 
$
48.27

 
 
 
 
Exercisable at end of period
1,623,226
 
$
43.23
Schedule of outstanding and exercisable options by exercise price
The following table summarizes information about the Company’s outstanding and exercisable options at August 29, 2015.

 
 
Options Outstanding
 
Options Exercisable
Range of Exercise
Prices
 
Number
 
Weighted
Average
Exercise
Price
 
Intrinsic Value
 
Weighted
Average
Remaining Life
in Years
 
Number
 
Weighted
Average
Exercise
Price
 
Intrinsic Value
 
Weighted
Average
Remaining Life
in Years
$25.31 - $28.79
 
43,000
 
$
26.18

 
$
1,298

 
2.76
 
43,000

 
$
26.18

 
$
1,298

 
2.76
$31.96 - $36.48
 
474,646
 
$
33.68

 
10,763

 
2.92
 
474,646

 
$
33.68

 
10,763

 
2.92
$42.86 - $55.01
 
1,207,529
 
$
46.24

 
12,219

 
6.43
 
973,944

 
$
46.16

 
9,937

 
6.23
$57.74 - $63.22
 
739,400
 
$
62.22

 
—

 
8.86
 
131,636

 
$
61.60

 
—

 
8.38

 

 


 


 

 


 


 


 

 
 
2,464,575
 
$
48.27

 
$
24,280

 
6.42
 
1,623,226

 
$
43.23

 
$
21,998

 
5.34
Schedule of Black-Scholes option pricing model on options granted
The fair value of each option grant is estimated on the date of grant using the Black-Scholes option pricing model with the following weighted average assumptions by grant year.
 
 
Nine Months Ended
 
 
August 29,
2015
 
August 30,
2014
Weighted average fair value per option at the date of grant for options granted
 
$
10.26

 
$
11.50

Risk-free interest rate
 
1.31
%
 
1.55
%
Expected dividend yield
 
1.27
%
 
1.10
%
Expected volatility factor
 
19.50
%
 
21.38
%
Expected option term in years
 
5.0

 
5.0
Schedule of restricted stock unit awards
The following table summarizes activity for the nine months ended August 29, 2015 with respect to the restricted stock unit awards with performance conditions.
 
Units
 
Weighted
Average
Grant Date
Fair Value
Nonvested at beginning of year
—

 
$
—

Granted
92,650

 
$
63.22

Vested
—

 
$
—

Nonvested at end of period
92,650

 
$
63.22

The following table summarizes activity for the nine months ended August 29, 2015 with respect to the restricted stock unit awards.
 
Units
 
Weighted
Average
Grant Date
Fair Value
Nonvested at beginning of year
51,012
 
$
53.12

Granted
50,740
 
$
63.23

Vested
(21,846)
 
$
51.83

Surrendered
(728)
 
$
54.47

Nonvested at end of period
79,178
 
$
59.94
Restricted Stock [Member]  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Schedule of share-based compensation costs
The following table summarizes information related to restricted stock unit awards during the three and nine months ended August 29, 2015 and August 30, 2014.
 
 
Quarter Ended

Nine Months Ended
 
 
August 29,
2015

August 30,
2014

August 29,
2015

August 30,
2014
Pre-tax compensation expense
 
$
427

 
$
330

 
$
2,050

 
$
1,072

Deferred tax benefits
 
(155
)
 
(118
)
 
(745
)
 
(382
)
Excess tax benefits associated with tax deductions over the amount of compensation expense recognized in the consolidated condensed financial statements
 
4

 
—

 
215

 
101

Fair value of restricted stock unit awards on date of grant
 
25

 
—

 
3,208

 
1,524

Fair value of restricted stock unit awards vested
 
154

 
—

 
1,132

 
765
Restricted Stock Unit Awards with Performance Conditions [Member]  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Schedule of share-based compensation costs
The following table summarizes information related to restricted stock unit awards with performance conditions during the three and nine months ended August 29, 2015 and August 30, 2014.
 
 
Quarter Ended

Nine Months Ended
 
 
August 29,
2015

August 30,
2014

August 29,
2015

August 30,
2014
Pre-tax compensation expense
 
$
(709
)
 
$
—

 
$
218

 
$
—

Deferred tax benefits
 
258

 
—

 
(79
)
 
—

Excess tax benefits associated with tax deductions over the amount of compensation expense recognized in the consolidated condensed financial statements
 
—

 
—

 
—

 
—

Fair value of restricted stock unit awards on date of grant
 
—

 
—

 
5,857

 
—

Fair value of restricted stock unit awards vested
 
—

 
—

 
—

 
—
Employee Stock Option [Member]  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Schedule of share-based compensation costs
The following table summarizes information related to stock options and stock option exercises during the three and nine months ended August 29, 2015 and August 30, 2014.

 
 
Quarter Ended
 
Nine Months Ended
 
 
August 29,
2015

August 30,
2014
 
August 29,
2015

August 30,
2014
Pre-tax compensation expense
 
$
896

 
$
925

 
$
4,460

 
$
2,957

Deferred tax benefits
 
(326
)
 
(330
)
 
(1,622
)
 
(1,053
)
Excess tax benefits associated with tax deductions over the amount of compensation expense recognized in the consolidated condensed financial statements
 
139

 
354

 
923

 
604

Fair value of stock options on date of grant
 
—

 
—

 
3,196

 
4,650

Total intrinsic value of stock options exercised
 
535

 
1,253

 
3,699

 
2,409

Cash received upon exercise of stock options
 
710

 
1,430

 
5,306

 
3,254

Addition to capital in excess of par value due to exercise of stock options
 
830

 
1,740

 
6,079

 
3,756
Director [Member] | Restricted Stock [Member]  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Schedule of share-based compensation costs
The following table summarizes information related to directors' stock compensation during the three and nine months ended August 29, 2015 and August 30, 2014, respectively.

 
 
Quarter Ended
 
Nine Months Ended
 
 
August 29,
2015
 
August 30,
2014
 
August 29,
2015
 
August 30,
2014
Pre-tax compensation expense
 
$
114

 
$
—

 
$
994

 
$
880

Shares of Company common stock issued under the plans
 
1,909

 
—

 
15,261

 
15,400