STOCK COMPENSATION PLANS (Tables)

3 Months Ended

Apr. 03, 2016

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

Summary of Stock Compensation Costs

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 3, 2016		April 5, 2015
Pre-tax compensation expense	$	11,678	$	13,889
Related income tax benefit	4,087		4,861

Summary of Activity Relating to the Grants of Stock Options

A summary of activity relating to grants of stock options for the period ended April 3, 2016 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	6,842,563		$75.48	5.8 years
Granted	1,326,045		$90.38
Exercised	(583,269	)	$54.65
Forfeited	(96,163	)	$104.33
Outstanding as of April 3, 2016	7,489,176		$79.34	6.6 years	$	114,827
Options exercisable as of April 3, 2016	4,596,241		$68.79	5.1 years	$	112,614

Summary of Fair Value Estimated on the Grant Date and the Weighted Average Assumptions

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 3, 2016		April 5, 2015
Dividend yields	2.4	%	2.0	%
Expected volatility	16.8	%	20.8	%
Risk-free interest rates	1.5	%	1.9	%
Expected lives in years	6.8		6.7

Summary of Activity Relating to Grants of PSUs and RSUs

A summary of activity relating to grants of PSUs and RSUs for the period ended April 3, 2016 is as follows:

Performance Stock Units and Restricted Stock Units	Number of units		Weighted-average grant date fair value for equity awards (per unit)
Outstanding at beginning of year	495,207		$106.40
Granted	483,678		$92.88
Performance assumption change	(16,056	)	$97.33
Vested	(179,866	)	$95.78
Forfeited	(10,056	)	$95.07
Outstanding as of April 3, 2016	772,907		$102.24

Schedule of Information Pertaining to Fair Value of PSUs and RSUs Granted for Potential Future Distribution

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

	Three Months Ended
	April 3, 2016			April 5, 2015
Units granted	483,678			266,099
Weighted-average fair value at date of grant	$	92.88		$	109.35
Monte Carlo simulation assumptions:
Estimated values	$	38.02		$	61.22
Dividend yields	2.5		%	2.0		%
Expected volatility	17.0		%	14.9		%