Stock-Based Compensation (Tables)

12 Months Ended

Dec. 30, 2023

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 December 30, 2023.

 

	Shares Under Option	Weighted Average Price		Weighted Average Remaining Contract Life (Years)	Aggregate Intrinsic Value (000’s)
Outstanding December 31, 2022	617,856	$	176.79
Granted	87,633	240.94
Exercised	(97,941)	146.32
Forfeited	(9,191)	166.63
Outstanding December 30, 2023	598,357	191.33		3.9	$	45,627
Exercisable December 30, 2023	434,678	172.69		3.2	41,246

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 30, 2023.

 

	Shares	Weighted Average Grant-Date Fair Value
Nonvested December 31, 2022	168,286	$	213.65
Granted	93,310	236.56
Vested	(88,760)	193.21
Forfeited	(12,338)	229.09
Nonvested December 30, 2023	160,498	237.09

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:

 

	2023	2022	2021
Weighted average fair value of options granted	$77.40	$70.39	$74.04
Assumptions:
Risk-free interest rate	3.67%	2.83%	0.66%
Expected dividend yield	1.00%	0.92%	0.72%
Expected stock price volatility	36.0%	35.0%	35.0%
Expected life of options (years)	4.4	4.4	4.4