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Equity-Based Compensation (Tables)

6 Months Ended

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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