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Capital Transactions | 3 Months Ended
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Apr. 02, 2017
Equity [Abstract] |
Capital Transactions | 16.Capital Transactions During the first quarter of each year, the Compensation Committee of the Company’s Board of Directors determines whether any shares of the Company’s Class B Common Stock should be issued to J. Frank Harrison, III, in connection with his services for the prior year as Chairman of the Board of Directors and Chief Executive Officer of the Company, pursuant to a performance unit award agreement approved in 2008 (the “Performance Unit Award Agreement”). As permitted under the terms of the Performance Unit Award Agreement, a number of shares were settled in cash each year to satisfy tax withholding obligations in connection with the vesting of the performance units. The remaining number of shares increased the total shares of Class B Common Stock outstanding. A summary of the awards each year is as follows:
|  | Fiscal Year |
|  | 2017 |  |  | 2016 |
Date of approval for award |  | March 7, 2017 |  |  | March 8, 2016 |
Fiscal year of service covered by award |  | 2016 |  |  | 2015 |
Shares settled in cash to satisfy tax withholding obligations |  |  | 18,980 |  |  |  | 19,080 |
Increase in Class B Common Stock shares outstanding |  |  | 21,020 |  |  |  | 20,920 |
Total Class B Common Stock awarded |  |  | 40,000 |  |  |  | 40,000 |
Compensation expense for the Performance Unit Award Agreement, recognized on the share price of the last trading day prior to the end of the fiscal period, was as follows:
|  | First Quarter |
(in thousands, except share price) |  | 2017 |  |  | 2016 |
Total compensation expense |  | $ | 2,060 |  |  | $ | 1,627 |
Share price for compensation expense |  | $ | 206.02 |  |  | $ | 162.69 |
Share price date for compensation expense |  | March 31, 2017 |  |  | April 1, 2016 |

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- Definition The entire disclosure for accounts comprising shareholders' equity, comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income, and compensation-related costs for equity-based compensation. Includes, but is not limited to, disclosure of policies, compensation plan details, equity-based arrangements to obtain goods and services, deferred compensation arrangements, and employee stock purchase plan details. + References No definition available. + Details
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