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Share-Based Awards, Purchase Plans and Compensation Cost (Tables)

12 Months Ended

Dec. 31, 2021

Share-based Payment Arrangement [Abstract]

Options on Common Shares Granted and Outstanding

Options on common shares granted and outstanding, as well as the weighted average exercise price, are shown below (in thousands, except exercise prices):

			Option Shares						Weighted Average Exercise Price						Options Exercisable						Weighted Average Exercise Price
Outstanding, December 29, 2018			12,270						$	24.67					7,312						$	20.17
Granted			1,781						46.36
Exercised			(1,886)						17.64
Canceled			(53)						33.13
Outstanding, December 27, 2019			12,112						28.91						8,231						23.75
Granted			1,400						55.26
Exercised			(3,238)						20.81
Canceled			(66)						41.24
Outstanding, December 25, 2020			10,208						35.02						6,553						28.02
Granted			843						72.22
Exercised			(1,309)						24.91
Canceled			(167)						55.59
Outstanding, December 31, 2021			9,575						$	39.31					7,296						$	33.75

Options Outstanding and Exercisable

The following table summarizes information for options outstanding and exercisable at December 31, 2021 (in thousands, except exercise prices and contractual term amounts):

						Options Outstanding																		Options Exercisable
Range of   Prices						Options Outstanding						Weighted Average Remaining Contractual Term in Years						Weighted Average Exercise Price						Options Exercisable						Weighted Average Exercise Price
$10 - $30						3,474						3.2						$	24.23					3,474						$	24.23
$30 - $45						2,401						5.7						36.78						2,168						35.99
$45 - $60						2,905						7.6						50.44						1,619						50.35
$60 - $75						795						9.2						72.23						35						71.92
$10 - $75						9,575						5.7						$	39.31					7,296						$	33.75

Cash Proceeds Received and Tax Benefit from Share-based Payment Awards [Table Text Block]

Information related to options exercised follows (in thousands):

			2021						2020						2019
Cash received			$	32,610					$	66,625					$	32,749
Aggregate intrinsic value			65,319						120,395						57,419
Tax benefit realized			13,329						25,000						12,000

Share Based Payment Award Stock Options Authorized

Shares authorized for issuance under the stock option and purchase plans are shown below (in thousands):

			Total Shares Authorized						Available for Future Issuance as of December 31, 2021
Stock Incentive Plan (2019)			10,000						7,149
Employee Stock Purchase Plan (2006)			21,000						12,080
Total			31,000						19,229

Share-based compensation cost

The Company recognized share-based compensation cost as follows (in thousands):

			2021						2020						2019
Share-based compensation			$	24,931					$	25,153					$	26,669
Tax benefit			1,705						1,700						2,100
Share-based compensation, net of tax			$	23,226					$	23,453					$	24,569

Options - Valuation Assumptions

The fair value of each option grant is estimated on the date of grant using the Black-Scholes option-pricing model with the following weighted average assumptions and results:

			2021						2020						2019
Expected life in years			7.5						7.5						6.8
Interest rate			0.9		%				1.4		%				2.3		%
Volatility			25.2		%				22.0		%				24.0		%
Dividend yield			1.0		%				1.3		%				1.4		%
Weighted average fair value per share			$	17.87					$	12.18					$	11.31

Employee Stock Purchase Plan - Valuation Assumptions

The benefit of the 15 percent discount from the lesser of the fair market value per common share on the first day and the last day of the plan year was added to the fair value of the employees’ purchase rights determined using the Black-Scholes option-pricing model with the following assumptions and results:

			2021						2020						2019
Expected life in years			1.0						1.0						1.0
Interest rate			0.1		%				1.5		%				2.6		%
Volatility			40.1		%				21.9		%				22.7		%
Dividend yield			1.1		%				1.4		%				1.4		%
Weighted average fair value per share			$	21.50					$	11.55					$	11.36

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