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Equity-Based Compensation (Tables) | 9 Months Ended
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Oct. 03, 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:
|  | Nine Months Ended |
|  | October 3, 2015 |  |  | September 27, 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 |  | $ | 11,509,000 |  |  | $ | 4,600,000 |
Weighted-average grant date fair value of SARs granted (per underlying share) |  | $ | 35.25 |  |  | $ | 25.00 |
Summary of Stock Option Activity | Stock option activity was as follows:
|  | Nine Months Ended October 3, 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 |  |  | (185,770 | ) |  |  | 43.32 |  |  |  |  |  |  |  |  |
Expired |  |  | (1,550 | ) |  |  | 51.62 |  |  |  |  |  |  |  |  |
Outstanding at end of period |  |  | 228,640 |  |  |  | 37.56 |  |  |  | 2.2 Years |  |  | $ | 13.0 million |
Exercisable at end of period |  |  | 228,640 |  |  |  | 37.56 |  |  |  | 2.2 Years |  |  | $ | 13.0 million |
Intrinsic value of exercised options |  | $ | 9,020,000 |  |  |  |  |  |  |  |  |
Summary of SARs Activity | SAR activity was as follows:
|  | Nine Months Ended October 3, 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 |  |  | 330,144 |  |  |  | 107.74 |  |  |  |  |  |  |  |  |
Exercised |  |  | (160,450 | ) |  |  | 40.86 |  |  |  |  |  |  |  |  |
Forfeited |  |  | (25,694 | ) |  |  | 71.72 |  |  |  |  |  |  |  |  |
Outstanding at end of period |  |  | 1,436,142 |  |  |  | 56.89 |  |  |  | 7.0 years |  |  | $ | 58.5 million |
Exercisable at end of period |  |  | 756,193 |  |  |  | 36.00 |  |  |  | 5.6 years |  |  | $ | 44.3 million |
Intrinsic value of exercised SARs |  | $ | 9,947,000 |  |  |  |  |  |  |  |  |  |  |  |  |
Summary of Restricted Stock Award Activity | Restricted stock award activity was as follows:
|  | Nine Months Ended October 3, 2015 |
Restricted Stock Awards |  | Shares |  |  | Weighted-Average Grant Date Fair Value |
Outstanding at beginning of year |  |  | 691,621 |  |  | $ | 60.06 |
Granted |  |  | 183,345 |  |  |  | 107.84 |
Released |  |  | (246,673 | ) |  |  | 51.69 |
Forfeited |  |  | (41,136 | ) |  |  | 72.98 |
Outstanding at end of period |  |  | 587,157 |  |  |  | 77.63 |
Summary of Performance Share Award Activity | Performance share award activity was as follows:
|  | Nine Months Ended October 3, 2015 |
Performance Share Awards |  | Shares |  |  | Weighted-Average Grant Date Fair Value |
Outstanding at beginning of year |  |  | 374,180 |  |  | $ | 61.33 |
Granted |  |  | 109,848 |  |  |  | 75.97 |
Released |  |  | (120,000 | ) |  |  | 38.67 |
Forfeited |  |  | (22,595 | ) |  |  | 73.29 |
Outstanding at end of period |  |  | 341,433 |  |  |  | 73.48 |
Summary of Restricted Stock Unit Activity | Restricted stock unit activity was as follows:
|  | Nine Months Ended October 3, 2015 |
Restricted Stock Units |  | Shares |
Outstanding at beginning of year |  |  | 41,964 |
Granted |  |  | 11,623 |
Released |  |  | (8,653 | )
Forfeited |  |  | (5,480 | )
Outstanding at end of period |  |  | 39,454 |
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.
|  | Nine Months Ended |
|  | October 3, 2015 |  |  | September 27, 2014 |
Fair market value |  | $ | 80.43 |  |  | $ | 63.42 |
Option price |  | $ | 76.41 |  |  | $ | 60.25 |
Expected dividend yield |  |  | 0 | % |  |  | 0 | %
Expected volatility |  |  | 41 | % |  |  | 31 | %
Risk free interest rate |  |  | 0.03 | % |  |  | 0.06 | %
Performance Stock Units [Member] |
Summary of Performance Share Award Activity | Performance stock unit activity was as follows:
|  | Nine Months Ended October 3, 2015 |
Performance Stock Units |  | Shares |
Outstanding at beginning of year |  |  | 10,345 |
Forfeited |  |  | (1,272 | )
Outstanding at end of period |  |  | 9,073 |

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