XML 48 R34.htm IDEA: XBRL DOCUMENT v3.8.0.1
Shareholders' Equity (Tables)
12 Months Ended
Dec. 30, 2017
Stockholders' Equity Note [Abstract]  
Schedule of share-based compensation activity
The table below presents share-based compensation activity for the three fiscal years ended 2017, 2016 and 2015 (in millions):
 
 
2017
 
2016
 
2015
Total Intrinsic Value of Share-Based Incentive Awards Exercised
 
$
4.3

 
$
2.5

 
$
4.3

Cash Received from Stock Option Exercises
 
0.4

 
0.5

 
4.1

Total Fair Value of Share-Based Incentive Awards Vested
 
4.3

 
4.9

 
4.9

Assumptions used in Valuation for Options, SAR's, and Performance Share Units
The weighted average assumptions used in the Company's Black-Scholes valuation related to grants for SARs were as follows:
 
2017
 
2016
 
2015
Per Share Weighted Average Fair Value of Grants
$
23.31

 
$
15.22

 
$
27.15

Risk-Free Interest Rate
2.1
%
 
1.4
%
 
1.9
%
Expected Life (Years)
7.0

 
7.0

 
7.0

Expected Volatility
28.6
%
 
29.6
%
 
35.6
%
Expected Dividend Yield
1.3
%
 
1.7
%
 
1.2
%
The assumptions used in the Company's Monte Carlo simulation related to grants for performance share units were as follows:
 
December 30,
2017
 
December 31,
2016
Risk-free interest rate
1.6
%
 
0.9
%
Expected life (years)
3.0

 
3.0

Expected volatility
24.0
%
 
23.0
%
Expected dividend yield
1.3
%
 
1.7
%
Share-based Incentive Plan Grant Activity (Options and SAR's)
Following is a summary of share-based incentive plan activity (options and SARs) for fiscal 2017:
Number of Shares Under Options and SARs
Shares
 
Weighted Average Exercise Price
 
Weighted Average Remaining Contractual Term (years)
 
Aggregate Intrinsic Value (in millions)
Exercisable at December 31, 2016
1,610,499

 
$
63.16

 
 
 
 
Granted
195,207

 
80.72

 
 
 
 
Exercised
(184,191
)
 
52.89

 
 
 
 
Forfeited
(10,239
)
 
65.13

 
 
 
 
Expired
(9,485
)
 
64.21

 
 
 
 
Outstanding at December 30, 2017
1,601,791

 
$
66.46

 
5.7
 
$
17.2

Exercisable at December 30, 2017
940,751

 
$
64.47

 
3.9
 
$
11.5

RSA Award Activity
Following is a summary of RSA activity for fiscal 2017:
 
 
Shares
 
Weighted Average Fair Value at Grant Date
 
Weighted Average Remaining Contractual Term (years)
Unvested RSAs at December 31, 2016
 
19,593

 
$
57.43

 
0.4
Granted
 
13,941

 
80.70

 
 
Vested
 
(19,593
)
 
57.43

 
 
Unvested RSAs December 30, 2017
 
13,941

 
$
80.70

 
0.4
RSU Award Activity
Following is a summary of RSU activity for fiscal 2017:
 
 
 
 
Shares
 
Weighted Average Fair Value at Grant Date
 
Weighted Average Remaining Contractual Term (years)
Unvested RSUs at December 31, 2016
 
277,863

 
$
69.23

 
1.7
Granted
 
76,030

 
80.48

 
 
Vested
 
(85,790
)
 
74.50

 
 
Forfeited
 
(7,570
)
 
68.02

 
 
Unvested RSUs at December 30, 2017
 
260,533

 
$
70.81

 
1.7
PSU Award Activity
Following is a summary of PSU activity for fiscal 2017:
 
 
 
 
Shares
 
Weighted Average Fair Value at Grant Date
 
Weighted Average Remaining Contractual Term (years)
Unvested PSUs at December 31, 2016
 
133,340

 
$
65.28

 
2.0
Granted
 
48,666

 
90.82

 
 
Vested
 
(110
)
 
83.74

 
 
Forfeited
 
(26,780
)
 
81.76

 
 
Unvested PSUs December 30, 2017
 
155,116

 
$
70.43

 
2.0