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Employee Stock Plans (Tables)
12 Months Ended
Sep. 29, 2017
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]  
Changes in Outstanding Options Granted Under Equity Incentive Plans

The following table summarizes the changes in outstanding options granted under the Company’s equity incentive plan:

 

 

2017

 

 

2016

 

 

2015

 

 

 

 

 

 

 

Weighted

 

 

 

 

 

 

Weighted

 

 

 

 

 

 

Weighted

 

 

 

Shares

 

 

Average

 

 

Shares

 

 

Average

 

 

Shares

 

 

Average

 

 

 

Subject to

 

 

Exercise

 

 

Subject to

 

 

Exercise

 

 

Subject to

 

 

Exercise

 

 

 

Option

 

 

Price

 

 

Option

 

 

Price

 

 

Option

 

 

Price

 

 

Outstanding,

   beginning of year

 

1,390,956

 

 

$

72.09

 

 

 

1,358,921

 

 

$

68.18

 

 

 

1,362,793

 

 

$

60.16

 

 

Granted

 

242,200

 

 

 

81.60

 

 

 

221,200

 

 

 

90.16

 

 

 

203,200

 

 

 

107.34

 

 

Exercised

 

(492,968

)

 

 

51.70

 

 

 

(112,790

)

 

 

48.61

 

 

 

(182,322

)

 

 

50.94

 

 

Forfeited/cancelled

 

(63,450

)

 

 

93.63

 

 

 

(76,375

)

 

 

89.56

 

 

 

(24,750

)

 

 

74.73

 

 

Outstanding,

   end of year

 

1,076,738

 

 

$

82.30

 

 

 

1,390,956

 

 

$

72.09

 

 

 

1,358,921

 

 

$

68.18

 

 

Exercisable,

   end of year

 

594,963

 

 

$

76.66

 

 

 

918,706

 

 

$

61.03

 

 

 

824,496

 

 

$

55.58

 

 

 

Stock Activity Related to Stock Options Exercised

The table below presents stock activity related to stock options exercised in fiscal 2017 and 2016:

 

In Thousands

 

 

2017

 

 

2016

 

 

 

 

 

 

 

 

 

 

 

 

 

Proceeds from stock options exercised

 

 

$

28,116

 

 

$

8,175

 

 

Tax benefits related to stock options exercised

 

 

 

2,271

 

 

 

406

 

 

Intrinsic value of stock options exercised

 

 

 

19,223

 

 

 

3,195

 

 

 

Stock Options Outstanding

 

The following table summarizes information for stock options outstanding at September 29, 2017:

 

 

Options Outstanding

 

 

Options Exercisable

 

 

 

 

 

 

Weighted

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Average

 

 

Weighted

 

 

 

 

 

 

Weighted

 

 

 

 

 

 

Remaining

 

 

Average

 

 

 

 

 

 

Average

 

 

Range of Exercise Prices

Shares

 

Life (years)

 

 

Price

 

 

Shares

 

 

Price

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

$   23.66 - 52.00

 

110,575

 

 

3.6

 

 

$

48.13

 

 

 

110,575

 

 

$

48.13

 

 

     52.01 - 65.00

 

147,075

 

 

3.1

 

 

 

62.17

 

 

 

147,075

 

 

 

62.17

 

 

     65.01 - 75.00

 

113,525

 

 

6.9

 

 

 

69.40

 

 

 

56,275

 

 

 

67.07

 

 

     75.01 - 85.00

 

257,063

 

 

8.4

 

 

 

82.34

 

 

 

46,363

 

 

 

79.38

 

 

     85.01 - 100.00

 

284,750

 

 

7.0

 

 

 

95.14

 

 

 

146,200

 

 

 

95.45

 

 

   100.01 - 118.32

 

163,750

 

 

6.9

 

 

 

109.97

 

 

 

88,475

 

 

 

110.00

 

 

 

Summary of Changes in RSUs Granted Under Company's Equity Incentive Plan

The following table summarizes the changes in RSUs granted under the Company’s equity incentive plan:

 

 

2017

 

 

2016

 

 

2015

 

 

 

 

 

 

 

Weighted

 

 

 

 

 

 

Weighted

 

 

 

 

 

 

Weighted

 

 

 

 

 

 

 

Average

 

 

 

 

 

 

Average

 

 

 

 

 

 

Average

 

 

 

 

 

 

 

Grant Date

 

 

 

 

 

 

Grant Date

 

 

 

 

 

 

Grant Date

 

 

 

Shares

 

 

Fair Value

 

 

Shares

 

 

Fair Value

 

 

Shares

 

 

Fair Value

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Non-vested, beginning

   of year

 

99,778

 

 

$

90.04

 

 

 

117,281

 

 

$

85.95

 

 

 

103,971

 

 

$

80.01

 

 

Granted

 

37,100

 

 

 

76.83

 

 

 

37,000

 

 

 

84.70

 

 

 

28,150

 

 

 

105.34

 

 

Vested

 

(44,420

)

 

 

85.77

 

 

 

(48,053

)

 

 

75.35

 

 

 

(12,740

)

 

 

79.84

 

 

Forfeited/cancelled

 

(7,200

)

 

 

91.71

 

 

 

(6,450

)

 

 

94.58

 

 

 

(2,100

)

 

 

88.99

 

 

Non-vested, end

   of year

 

85,258

 

 

$

86.37

 

 

 

99,778

 

 

$

90.04

 

 

 

117,281

 

 

$

85.95

 

 

 

Summary of Activity in Target PSP Shares Granted Under Equity Incentive Plan

The following table summarizes the activity in the target PSP shares granted under the Company’s equity incentive plan:

 

 

2017

 

 

2016

 

 

2015

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Non-vested, beginning of year

 

89,275

 

 

 

34,700

 

 

 

-

 

 

Granted

 

43,650

 

 

 

56,275

 

 

 

36,800

 

 

Vested

 

-

 

 

 

-

 

 

 

-

 

 

Forfeited/cancelled

 

(12,775

)

 

 

(1,700

)

 

 

(2,100

)

 

Non-vested, end of year

 

120,150

 

 

 

89,275

 

 

 

34,700

 

 

 

Stock Options  
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]  
Fair Value of Option Granted using Black-Scholes Pricing Model

 

 

2017

 

2016

 

2015

 

 

 

 

 

 

 

 

Volatility

34.97 - 35.42%

 

33.06 - 40.52%

 

40.73 - 41.89%

 

Risk-free interest rate

1.98 - 2.51%

 

1.61 - 2.24%

 

1.43 - 2.00%

 

Expected life (years)

5 - 9

 

5 - 9

 

5 - 9

 

Dividends

0

 

0

 

0

 

 

Restricted Stock Units  
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]  
Stock Activity Related to Stock Options Exercised

The table below presents stock activity related to RSUs vested in fiscal 2017 and 2016:

 

In Thousands

 

 

2017

 

 

2016

 

 

 

 

 

 

 

 

 

 

 

 

 

Tax benefits related to RSUs vested

 

 

$

1

 

 

$

162

 

 

Intrinsic value of RSUs vested

 

 

 

3,631

 

 

 

3,847

 

 

 

Employee Share-save Scheme  
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]  
Fair Value of Option Granted using Black-Scholes Pricing Model

 

 

2017

 

 

2016

 

 

2015

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Volatility

 

35.58

%

 

 

33.21

%

 

 

25.80

%

 

Risk-free interest rate

 

1.75

%

 

 

1.19

%

 

 

0.93

%

 

Expected life (years)

3

 

 

3

 

 

3

 

 

Dividends

0

 

 

0

 

 

0