Stock-Based Compensation (Tables)

12 Months Ended

Dec. 28, 2019

Share-based Payment Arrangement [Abstract]

Share-based Compensation, Stock Options, Activity

The following table provides a reconciliation of outstanding stock options for the fiscal year ended December 28, 2019.

 

	Shares Under Option		Weighted Average Price		Weighted Average Remaining Contract Life (Years)	Aggregate Intrinsic Value (000’s)
Outstanding December 29, 2018	669,356		$	116.29
Granted	76,742		199.24
Exercised	(134,982	)	97.22
Forfeited	(10,651	)	108.23
Outstanding December 28, 2019	600,465		131.32		4.6	$	37,048
Exercisable December 28, 2019	413,109		111.65		4.0	33,215

Schedule of Nonvested Restricted Stock Units Activity

The following table provides a reconciliation of non-vested restricted share and share unit awards ("RSU") for the fiscal year ended December 28, 2019.

	Shares		Weighted Average Grant-Date Fair Value
Nonvested December 29, 2018	160,794		$	164.61
Granted	70,225		195.71
Vested	(84,990	)	154.38
Forfeited	(11,893	)	181.70
Nonvested December 28, 2019	134,136		185.86

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

The Company uses the Black-Scholes option valuation model to determine the fair value of stock option awards granted. The weighted average fair value of and related assumptions for options granted are as follows:

	2019	2018	2017
Weighted average fair value of options granted	$47.63	$45.19	$30.77
Assumptions:
Risk-free interest rate	2.33%	2.79%	1.79%
Expected dividend yield	0.86%	0.77%	0.86%
Expected stock price volatility	27.0%	25.0%	23.0%
Expected life of options (years)	4.4	4.4	4.4