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Share-Based Awards, Purchase Plans and Compensation Cost (Tables)
12 Months Ended
Dec. 27, 2024
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 31, 20219,575 $39.31 7,296 $33.75 
Granted1,381 71.03 
Exercised(645)25.58 
Canceled(46)49.42 
Outstanding, December 30, 202210,265 44.40 7,793 37.22 
Granted1,114 71.45 
Exercised(1,354)30.77 
Canceled(121)62.75 
Outstanding, December 29, 20239,904 49.09 7,274 41.46 
Granted925 89.23 
Exercised(1,535)32.10 
Canceled(155)76.03 
Outstanding, December 27, 20249,139 $55.60 6,582 $47.16 
Options Outstanding and Exercisable
The following table summarizes information for options outstanding and exercisable at December 27, 2024 (in thousands, except exercise prices and contractual term amounts):
Options OutstandingOptions Exercisable
Range of  
Prices
Options
Outstanding
Weighted Average
Remaining
Contractual Term
in Years
Weighted Average
Exercise Price
Options
Exercisable
Weighted Average
Exercise Price
 $ 20-402,007 1.6$28.05 2,007 $28.05 
 $ 40-603,267 4.348.93 3,267 48.93 
 $ 60-80 2,988 7.471.50 1,294 71.87 
 $ 80-100 877 9.289.24 14 89.77 
 $ 20-100 9,139 5.2$55.60 6,582 $47.16 
Cash Proceeds Received and Tax Benefit from Share-based Payment Awards [Table Text Block]
Information related to options exercised as follows (in thousands):
202420232022
Cash received$49,566 $40,708 $15,739 
Aggregate intrinsic value84,328 61,624 28,193 
Tax benefit realized17,675 12,605 6,020 
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 27, 2024
Stock Incentive Plan (2019)15,000 9,095 
Employee Stock Purchase Plan (2006)21,000 11,110 
Total36,000 20,205 
Share-based compensation cost The Company recognized share-based compensation cost as follows (in thousands):
202420232022
Share-based compensation$31,892 $30,229 $24,695 
Tax benefit3,295 3,177 2,319 
Share-based compensation, net of tax$28,597 $27,052 $22,376 
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:
202420232022
Expected life in years6.66.76.4
Interest rate4.2 %4.0 %2.7 %
Volatility26.3 %26.3 %26.2 %
Dividend yield1.1 %1.3 %1.2 %
Weighted average fair value per share$28.03 $21.76 $19.10 
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:
202420232022
Expected life in years1.01.01.0
Interest rate4.9 %5.1 %0.9 %
Volatility24.2 %26.4 %20.5 %
Dividend yield1.1 %1.4 %1.2 %
Weighted average fair value per share$23.16 $18.04 $16.01