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Stock-Based Compensation (Tables)
6 Months Ended
Jun. 25, 2022
Stock-Based Compensation [Abstract]  
Assumptions used in Determining Fair Values of Stock Options using the Black-Scholes Valuation Model
2022
Expected dividend yield
 
0.0
%
Expected stock price volatility
 
27.40
%
Risk-free interest rate
 
3.25
%
Expected life of options (years)
 
6.00
Summary of Stock Option Activity Under the Plans
Stock Options
Weighted
Average
Weighted
 
Remaining
Average
 
Contractual
 
Aggregate
Exercise
Life in
 
 
Intrinsic
Shares
Price
Years
 
Value
Outstanding at beginning of period
 
767,717
$
63.24
 
Granted
 
406,443
86.16
 
Exercised
 
(29,892)
62.71
 
Forfeited
 
(9,656)
71.72
 
Outstanding at end of period
 
1,134,612
$
71.39
 
9.1
 
$
10
Options exercisable at end of period
 
219,642
$
62.92
Intrinsic Values
Weighted
Weighted
Average
Average
Remaining
Aggregate
Number of
Exercise
Contractual
Intrinsic
Options
Price
Life (in years)
Value
Vested
 
or expected to vest
894,356
$
73.68
9.2
$
7
Status of Non-Vested Restricted Shares/Units
Time-Based Restricted Stock Units
Weighted Average
 
Grant Date Fair
Intrinsic Value
Shares/Units
Value Per Share
Per Share
Outstanding at beginning of period
 
1,945,862
$
58.79
Granted
 
455,169
86.13
Vested
 
(501,944)
54.76
Forfeited
 
(28,807)
65.88
Outstanding at end of period
 
1,870,280
$
66.47
$
77.29
Performance-Based Restricted Stock Units
Weighted Average
 
Grant Date Fair
Intrinsic Value
Shares/Units
Value Per Share
Per Share
Outstanding at beginning of period
 
674,753
$
59.63
Granted
 
390,975
75.70
Vested
 
(392,001)
59.24
Forfeited
 
(7,724)
66.18
Outstanding at end of period
 
666,003
$
62.39
$
77.29