XML 54 R36.htm IDEA: XBRL DOCUMENT v3.25.3
STOCK COMPENSATION PLANS (Tables)
9 Months Ended
Sep. 28, 2025
Share-Based Payment Arrangement [Abstract]  
Schedule 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 EndedNine Months Ended
September 28, 2025September 29, 2024September 28, 2025September 29, 2024
Pre-tax compensation expense
$15,451 $15,073 $46,453 $32,573 
Related income tax benefit3,294 2,572 15,478 6,352 
Schedule of Activity Relating to the Grants of Stock Options
A summary of activity relating to grants of stock options for the period ended September 28, 2025 is as follows:
Stock OptionsSharesWeighted-Average
Exercise Price (per share)
Weighted-Average Remaining
Contractual Term
Aggregate Intrinsic Value
Outstanding at beginning of year579,834 $106.732.7 years
Granted5,165 $164.16
Exercised(171,857)$102.56
Outstanding as of September 28, 2025
411,667 $108.982.4 years$32,916 
Options exercisable as of September 28, 2025
402,518 $107.012.2 years$32,828 
Schedule 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:
Nine Months Ended
September 28, 2025September 29, 2024
Dividend yields
3.0 %2.0 %
Expected volatility22.3 %21.3 %
Risk-free interest rates
4.2 %4.3 %
Expected term in years6.36.3
Schedule of Activity Relating to Grants of PSUs and RSUs
A summary of activity relating to grants of PSUs and RSUs for the period ended September 28, 2025 is as follows:
Performance Stock Units and Restricted Stock Units
Number of unitsWeighted-average grant date fair value for equity awards (per unit)
Outstanding at beginning of year
538,803 $204.65
Granted
643,726 $168.32
Performance assumption change (1)
240,508 $235.97
Vested
(318,390)$206.11
Forfeited
(110,222)$196.37
Outstanding as of September 28, 2025
994,426 $189.15
(1)Reflects the net number of PSUs above and below target levels based on the performance metrics.
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 weighted average 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.
Nine Months Ended
September 28, 2025September 29, 2024
Units granted
643,726357,272
Weighted-average fair value at date of grant
$168.32$195.06
Monte Carlo simulation assumptions:
Estimated values$110.81$84.13
Dividend yields3.2 %2.8 %
Expected volatility22.2 %18.5 %