EQUITY-BASED COMPENSATION PLANS (Tables)

3 Months Ended

Sep. 27, 2015

Recognized Equity Based Compensation Expense and Related Income Tax Benefit

The Company recognized the following equity-based compensation expense and related income tax benefit in the Condensed Consolidated Statements of Operations:

	Three Months Ended
	September 27, 2015		September 28, 2014
	(in thousands)
Equity-based compensation expense	$	35,774	$	32,040
Income tax benefit related to equity-based compensation expense	$	6,097	$	4,724

Summary of Stock Plan Activity

A summary of stock plan transactions is as follows:

	Options Outstanding					Restricted Stock Units Outstanding
	Number of Shares			Weighted- Average Exercise Price		Number of Shares			Weighted- Average Fair Market Value at Grant
June 28, 2015		835,832		$	37.44		4,954,088		$	60.13
Granted		—		$	—		73,614		$	68.99
Exercised		(14,718	)	$	25.81		N/A			N/A
Cancelled		—		$	—		(21,964	)	$	61.87
Vested restricted stock		N/A			N/A		(652,543	)	$	40.63
September 27, 2015		821,114		$	37.66		4,353,195		$	63.20

Schedule of ESPP Weighted-Average Assumptions

Purchase rights under the 1999 ESPP were valued using the Black-Scholes option valuation model and the following weighted-average assumptions for the three and nine months ended September 27, 2015 and September 28, 2014:

	Three Months Ended
	September 27, 2015			September 28, 2014
Expected term (years)		0.68			0.68
Expected stock price volatility		31.56	%		29.07	%
Risk-free interest rate		0.18	%		0.07	%
Dividend Yield		0.93	%		0.29	%