Stock-Based Compensation (Tables)

12 Months Ended

Jan. 01, 2022

Share-based Payment Arrangement [Abstract]

Schedule of share-based compensation, stock options, activity

The following table provides a reconciliation of outstanding stock options for the fiscal year ended January 1, 2022.

 

	Shares Under Option	Weighted Average Price		Weighted Average Remaining Contract Life (Years)	Aggregate Intrinsic Value (000’s)
Outstanding December 26, 2020	666,949	$	148.01
Granted	57,928	267.66
Exercised	(151,015)	126.61
Forfeited	(10,636)	151.93
Outstanding January 1, 2022	563,226	165.98		4.7	$	83,749
Exercisable January 1, 2022	240,030	148.66		3.7	39,850

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 January 1, 2022.

 

	Shares	Weighted Average Grant-Date Fair Value
Nonvested December 26, 2020	172,002	$	152.25
Granted	63,237	264.69
Vested	(72,904)	162.59
Forfeited	(5,676)	162.85
Nonvested January 1, 2022	156,659	192.44

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:

 

	2021	2020	2019
Weighted average fair value of options granted	$74.04	$38.09	$47.63
Assumptions:
Risk-free interest rate	0.66%	0.30%	2.33%
Expected dividend yield	0.72%	1.27%	0.86%
Expected stock price volatility	35.0%	33.0%	27.0%
Expected life of options (years)	4.4	4.7	4.4