Shareholders' Equity and Share-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2020

Shareholders' Equity and Share-Based Compensation

Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions

The Company estimated the fair value of stock options using the Black-Scholes option pricing model with the following assumptions used for awards granted during fiscal 2020, fiscal 2019 and fiscal 2018:

	Year Ended	Year Ended	Year Ended
	December 31, 2020	December 26, 2019	December 27, 2018
Risk-free interest rate	0.40 – 1.26%	2.50 – 2.60%	2.70 – 2.80%
Dividend yield	1.70 – 1.90%	1.70%	2.10%
Volatility	27 - 41%	27 – 32%	28 – 33%
Expected life	6 – 8 years	6 – 8 years	6 – 8 years

Schedule of Share-based Compensation, Stock Options, Activity

A summary of the Company’s stock option activity and related information follows:

	December 31, 2020				December 26, 2019				December 27, 2018
			Weighted-				Weighted-				Weighted-
			Average				Average				Average
			Exercise				Exercise				Exercise
	Options		Price		Options		Price		Options		Price
	(options in thousands)
Outstanding at beginning of period		1,641	$	25.46		1,450	$	21.25		1,629	$	18.08
Granted		728		23.47		329		41.67		336		27.59
Exercised		(31)		12.21		(97)		15.60		(478)		14.74
Forfeited		(104)		28.06		(41)		30.58		(37)		23.35
Outstanding at end of period		2,234		24.87		1,641		25.46		1,450		21.25
Exercisable at end of period		1,001	$	20.38		802	$	18.22		699	$	15.87
Weighted-average fair value of options granted during the period	$	5.96			$	11.79			$	7.87

Schedule of Share-based Compensation, Shares Authorized under Stock Option Plans, by Exercise Price Range

	Exercise Price Range
	$10.00 to		$18.35 to		$27.01 to
	$18.34		$27.00		$41.90
	(options in thousands)
Options outstanding		666		580		988
Weighted-average exercise price of options outstanding	$	13.64	$	23.21	$	33.44
Weighted-average remaining contractual life of options outstanding		4.9		5.9		8.1
Options exercisable		423		415		163
Weighted-average exercise price of options exercisable	$	14.17	$	22.22	$	31.77

Schedule of Nonvested Share Activity

A summary of the Company’s non-vested stock activity and related information follows:

	December 31, 2020			December 26, 2019			December 27, 2018
		Weighted-			Weighted-			Weighted-
		Average			Average			Average
		Fair			Fair			Fair
	Shares	Value		Shares	Value		Shares	Value
	(options in thousands)
Outstanding at beginning of period	174	$	29.16	158	$	18.98	137	$	21.94
Granted	42		31.43	39		38.24	52		29.02
Vested	(69)		26.56	(23)		18.60	(31)		16.41
Forfeited	—		—	—		—	—		—
Outstanding at end of period	147	$	31.02	174	$	29.16	158	$	18.98