STOCK COMPENSATION PLAN (Tables)

3 Months Ended

Apr. 05, 2015

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

For the periods presented, compensation expense for all types of stock-based compensation programs and the related income tax benefit recognized were as follows:



	Three Months Ended
	April 5, 2015		March 30, 2014
Pre-tax compensation expense	$	13,889	$	12,955
Related income tax benefit	$	4,861	$	4,444

Schedule of Share-based Compensation, Stock Options, Activity

A summary of activity relating to grants of stock options for the period ended April 5, 2015 is as follows:



Stock Options	Shares		Weighted-Average Exercise Price (per share)	Weighted-Average Remaining Contractual Term	Aggregate Intrinsic Value
Outstanding at beginning of the period	7,319,377		$66.69	6.3 years
Granted	1,256,775		$105.91
Exercised	(750,569	)	$52.81
Forfeited	(50,953	)	$91.69
Outstanding as of April 5, 2015	7,774,630		$74.22	6.8 years	$	220,730
Options exercisable as of April 5, 2015	4,444,877		$58.61	5.4 years	190,253

Fair Value of Each Stock Option Grant

The fair value was estimated on the date of grant using a Black-Scholes option-pricing model and the following weighted-average assumptions:



	Three Months Ended
	April 5, 2015		March 30, 2014
Dividend yields	2.0	%	2.0	%
Expected volatility	20.8	%	22.3	%
Risk-free interest rates	1.9	%	2.1	%
Expected lives in years	6.7		6.7

Schedule of Share-based Compensation, Restricted Stock and Restricted Stock Units Activity

A summary of activity relating to grants of PSUs and RSUs for the period ended April 5, 2015 is as follows:



Performance Stock Units and Restricted Stock Units	Number of Units		Weighted-average grant date fair value for equity awards or market value for liability awards (per unit)
Outstanding at beginning of year	904,306		$94.48
Granted	266,099		$109.35
Performance assumption change	(159,026	)	$81.58
Vested	(356,305	)	$73.04
Forfeited	(7,923	)	$88.13
Outstanding as of April 5, 2015	647,151		$106.04

Schedule Of Share Based Payment Award Market Based Total Shareholder Return Valuation Assumptions

The following table sets forth information about the fair value of the PSUs and RSUs granted during the periods indicated for potential future distribution to employees and directors. In addition, the table provides assumptions used to determine the fair value of the market-based total shareholder return component of the PSU grants using a Monte Carlo simulation model on the date of grant:



	Three Months Ended
	April 5, 2015		March 30, 2014
Units granted	266,099		292,896
Weighted-average fair value at date of grant (per unit)	$109.35		$117.30
Monte Carlo simulation assumptions:
Estimated values (per unit)	$61.22		$80.95
Dividend yields	2.0	%	1.8	%
Expected volatility	14.9	%	15.5	%