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Equity-Based Compensation (Tables) | 6 Months Ended
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Jul. 04, 2015
Weighted-Average Assumptions Used for Grants of Stock Options and SARs | The following table shows the weighted-average assumptions used for grants of SARs as well as the fair value of the grants based on those assumptions:
|  | Six Months Ended |
|  | July 4, 2015 |  |  | June 28, 2014 |
Expected dividend yield |  |  | 0 | % |  |  | 0 | %
Forfeiture rate |  |  | 10.24 | % |  |  | 10.32 | %
Volatility |  |  | 33.98 | % |  |  | 34.92 | %
Risk free interest rate |  |  | 1.53 | % |  |  | 1.73 | %
Range of interest rates |  |  | 0.02% - 2.14 | % |  |  | 0.02% - 2.61 | %
Expected weighted-average life |  |  | 5.32 years |  |  |  | 5.36 years |
Fair value of SARs granted |  | $ | 11,324,000 |  |  | $ | 4,211,000 |
Weighted-average grant date fair value of SARs granted (per underlying share) |  | $ | 35.25 |  |  | $ | 25.02 |
Summary of Stock Option Activity | Stock option activity was as follows:
|  | Six Months Ended July 4, 2015 |  |  |  |  |  |  |
Options |  | Shares |  |  | Weighted-Average Exercise Price |  |  | Weighted-Average Remaining Contractual Term |  |  | Aggregate Intrinsic Value |
Outstanding at beginning of year |  |  | 415,960 |  |  | $ | 40.19 |  |  |  |  |
Exercised |  |  | (171,666 | ) |  |  | 43.49 |  |  |  |  |  |  |  |  |
Expired |  |  | (1,550 | ) |  |  | 51.62 |  |  |  |  |  |  |  |  |
Outstanding at end of period |  |  | 242,744 |  |  |  | 37.78 |  |  |  | 2.3 Years |  |  | $ | 14.0 million |
Exercisable at end of period |  |  | 242,744 |  |  |  | 37.78 |  |  |  | 2.3 Years |  |  | $ | 14.0 million |
Intrinsic value of exercised options |  | $ | 8,384,000 |  |  |  |  |  |  |  |  |
Summary of SARs Activity |
|  | Six Months Ended July 4, 2015 |  |  |  |
SARs |  | Shares |  |  | Weighted-Average Exercise Price |  |  | Weighted-Average Remaining Contractual Term |  |  | Aggregate Intrinsic Value |
Outstanding at beginning of year |  |  | 1,292,142 |  |  | $ | 42.20 |  |  |  |  |  |  |  |  |
Granted |  |  | 321,244 |  |  |  | 108.05 |  |  |  |  |  |  |  |  |
Exercised |  |  | (156,366 | ) |  |  | 40.76 |  |  |  |  |  |  |  |  |
Forfeited |  |  | (13,032 | ) |  |  | 61.72 |  |  |  |  |  |  |  |  |
Outstanding at end of period |  |  | 1,443,988 |  |  |  | 56.83 |  |  |  | 7.3 years |  |  | $ | 59.7 million |
Exercisable at end of period |  |  | 755,871 |  |  |  | 35.91 |  |  |  | 5.8 years |  |  | $ | 44.9 million |
Intrinsic value of exercised SARs |  | $ | 9,684,000 |  |  |  |  |  |  |  |  |  |  |  |  |
Summary of Restricted Stock Award Activity | Restricted stock award activity was as follows:
|  | Six Months Ended July 4, 2015 |
Restricted Stock Awards |  | Shares |  |  | Weighted-Average Grant Date Fair Value |
Outstanding at beginning of year |  |  | 691,621 |  |  | $ | 60.06 |
Granted |  |  | 179,900 |  |  |  | 107.89 |
Released |  |  | (240,616 | ) |  |  | 51.81 |
Forfeited |  |  | (31,189 | ) |  |  | 70.62 |
Outstanding at end of period |  |  | 599,716 |  |  |  | 77.20 |
Summary of Performance Share Award Activity | Performance share award activity was as follows:
|  | Six Months Ended July 4, 2015 |
Performance Share Awards |  | Shares |  |  | Weighted-Average Grant Date Fair Value |
Outstanding at beginning of year |  |  | 374,180 |  |  | $ | 61.38 |
Granted |  |  | 111,235 |  |  |  | 75.93 |
Released |  |  | (120,000 | ) |  |  | 38.67 |
Forfeited |  |  | (20,804 | ) |  |  | 72.98 |
Outstanding at end of period |  |  | 344,611 |  |  |  | 73.48 |
Summary of Restricted Stock Unit Activity | Restricted stock unit activity was as follows:
|  | Six Months Ended July 4, 2015 |
Restricted Stock Units |  | Shares |
Outstanding at beginning of year |  |  | 41,964 |
Granted |  |  | 11,618 |
Released |  |  | (8,541 | )
Forfeited |  |  | (3,820 | )
Outstanding at end of period |  |  | 41,221 |
Weighted-Average Assumptions Used for Employee Purchase Rights Granted Under Stock Purchase Plan | The fair value of the purchase rights issued to the Company’s employees under the stock purchase plan is estimated using the following weighted-average assumptions for purchase rights granted. Expected lives of three months to one year have been used along with these assumptions.
|  | Six Months Ended |
|  | July 4, 2015 |  |  | June 28, 2014 |
Fair market value |  | $ | 82.68 |  |  | $ | 60.06 |
Option price |  | $ | 78.55 |  |  | $ | 57.06 |
Expected dividend yield |  |  | 0 | % |  |  | 0 | %
Expected volatility |  |  | 27 | % |  |  | 34 | %
Risk free interest rate |  |  | 0.04 | % |  |  | 0.06 | %
Performance Stock Units [Member] |
Summary of Performance Share Award Activity | Performance stock unit activity was as follows:
|  | Six Months Ended July 4, 2015 |
Performance Stock Units |  | Shares |
Outstanding at beginning of year |  |  | 10,345 |
Granted |  |  | 283 |
Forfeited |  |  | (1,272 | )
Outstanding at end of period |  |  | 9,356 |

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