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Equity Incentive Plans (Tables) | 12 Months Ended
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Jan. 02, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] |
Stock Options Activity Related to Equity Incentive Plans | Stock option activity related to the 2004 Equity Incentive Plan is summarized as follows:
|  | Common Stock Options |
|  | Outstanding |  |  | Weighted Average Exercise Price |  |  | Weighted Average Remaining Life |  |  | Aggregate Intrinsic Value |
|  |  |  |  |  |  |  | (Years) |  |  | (In thousands) |
Stock options at December 30, 2018 |  |  | 1,909,399 |  |  | $ | 72.86 |  |  |  |  |  |  |
Stock options granted |  |  | 96,280 |  |  |  | 272.64 |  |  |  |  |  |  |
Stock options cancelled |  |  | (33,667 | ) |  |  | 196.47 |  |  |  |  |  |  |
Stock options exercised |  |  | (425,601 | ) |  |  | 30.70 |  |  |  |  |  |  |
Stock options at December 29, 2019 |  |  | 1,546,411 |  |  | $ | 94.21 |  |  |  |  |  |  |
Stock options granted |  |  | 52,730 |  |  |  | 413.80 |  |  |  |  |  |  |
Stock options cancelled |  |  | (9,792 | ) |  |  | 268.94 |  |  |  |  |  |  |
Stock options exercised |  |  | (756,683 | ) |  |  | 40.93 |  |  |  |  |  |  |
Stock options at January 3, 2021 |  |  | 832,666 |  |  | $ | 160.82 |  |  |  |  |  |  |
Stock options granted |  |  | 42,742 |  |  |  | 367.79 |  |  |  |  |  |  |
Stock options cancelled |  |  | (11,990 | ) |  |  | 333.61 |  |  |  |  |  |  |
Stock options exercised |  |  | (199,301 | ) |  |  | 98.76 |  |  |  |  |  |  |
Stock options at January 2, 2022 |  |  | 664,117 |  |  | $ | 189.64 |  |  |  | 5.1 |  |  | $ | 248,836 |
Exercisable at January 2, 2022 |  |  | 545,050 |  |  |  | 155.82 |  |  |  | 4.4 |  |  | $ | 222,656 |
Stock Option Valuation Assumptions | The weighted average assumptions used in estimating the fair value of each stock option granted in 2021, 2020 and 2019 using the Black-Scholes option pricing method are presented in the following table:
|  | 2021 |  |  | 2020 |  |  | 2019 |
Risk-free interest rate |  |  | 1.0 | % |  |  | 0.3 | % |  |  | 1.9 | %
Expected life |  | 5.25 years |  |  | 5.5 years |  |  | 5.5 years |
Expected volatility |  |  | 30.0 | % |  |  | 30.0 | % |  |  | 25.0 | %
Expected dividend yield |  |  | 1.0 | % |  |  | 0.8 | % |  |  | 0.9 | %
Weighted average fair value per stock option |  | $ | 93.46 |  |  | $ | 105.76 |  |  | $ | 64.66 |
Resticted Stock and Performance Based Restricted Stock Activity Related to Equity Incentive Plans | Activity related to restricted stock awards and units and performance-based restricted stock awards and units awarded under the 2004 Equity Incentive Plan is summarized as follows:
|  | Shares |  |  | Weighted Average Grant Date Fair Value (1) |
Nonvested at December 30, 2018 |  |  | 190,379 |  |  | $ | 213.57 |
Shares granted |  |  | 67,570 |  |  |  | 275.06 |
Shares cancelled |  |  | (17,923 | ) |  |  | 230.60 |
Shares vested |  |  | (68,956 | ) |  |  | 175.84 |
Nonvested at December 29, 2019 |  |  | 171,070 |  |  | $ | 251.29 |
Shares granted |  |  | 42,780 |  |  |  | 398.08 |
Shares cancelled |  |  | (8,345 | ) |  |  | 273.70 |
Shares vested |  |  | (58,743 | ) |  |  | 221.58 |
Nonvested at January 3, 2021 |  |  | 146,762 |  |  | $ | 304.69 |
Shares granted |  |  | 59,801 |  |  |  | 382.79 |
Shares cancelled |  |  | (12,924 | ) |  |  | 340.94 |
Shares vested |  |  | (48,378 | ) |  |  | 287.41 |
Nonvested at January 2, 2022 |  |  | 145,261 |  |  | $ | 339.37 |
Restricted Stock [Member] |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] |
Stock Option Valuation Assumptions | The weighted average assumptions used in estimating the fair value of each performance-based restricted stock unit granted in 2021 using the Monte-Carlo simulation pricing method are presented in the following table:
|  | 2021 |
Risk-free interest rate |  |  | 0.3 | %
Expected life |  | 2.75 years |
Expected volatility |  |  | 33.9 | %
Weighted average fair value per performance-based restricted stock unit |  | $ | 375.85 |

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- Definition Tabular disclosure for stock option plans. Includes, but is not limited to, outstanding awards at beginning and end of year, grants, exercises, forfeitures, and weighted-average grant date fair value. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (e) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(1) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 + Details
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- Definition Tabular disclosure of the significant assumptions used during the year to estimate the fair value of stock options, including, but not limited to: (a) expected term of share options and similar instruments, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (f)(2) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 + Details
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