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Pay vs Performance Disclosure
12 Months Ended
Dec. 30, 2023
USD ($)
Dec. 31, 2022
USD ($)
Dec. 25, 2021
USD ($)
Dec. 26, 2020
USD ($)
Pay vs Performance Disclosure        
Pay vs Performance Disclosure, Table
Pay versus Performance
Pursuant to SEC rules, the Pay versus Performance disclosure below details compensation for the Company’s CEO and average compensation for the other named executives, both as reported in the Summary Compensation Table and with certain adjustments to reflect compensation actually paid to such individuals in each of the Company’s fiscal years 2023, 2022, 2021, and 2020. The disclosure also provides information on the Company’s TSR, as well as that of the S&P 500 Health Care Index, on a cumulative basis over the same four fiscal years. The Company’s Net Income is shown for the past four fiscal years, as well as non-GAAP EPS which we consider another important performance measure. A detailed discussion of the Compensation Committee’s decisions regarding the compensation awarded to the named executives for 2023 can be found in the section of this Proxy Statement entitled “Compensation Discussion and Analysis”.
Please see Appendix A to this Proxy Statement for reconciliation of our GAAP EPS to non-GAAP EPS for 2014-2023.
Year
Summary
Compensation
Table Total
for CEO ($)
Compensation
Actually Paid
to CEO ($)(1)
Average
Summary
Compensation
Table Total
for Other
Named
Executives
($)(2)
Average
Compensation
Actually paid
to Other
Named
Executives
($)(1)
Value of Initial Fixed $100
Investment Based on(3)
Net Income
($)
Non-
GAAP
EPS ($)
Total
Shareholder
Return ($)
Peer Group
Total
Shareholder
Return ($)
2023 14,096,924 18,903,908 3,692,047 4,743,481 156 143 474,624,000 10.67
2022 13,447,872 (11,539,600) 3,298,049 (397,971) 143 140 486,226,000 11.12
2021 13,705,580 43,168,611 4,392,906 9,206,989 243 141 390,982,000 10.32
2020 13,483,411 50,018,818 2,773,587 8,856,107 166 111 364,304,000 8.13
(1)
SEC rules specify adjustments from the Summary Compensation Table totals to calculate compensation actually paid to the CEO and other named executives. These adjustments are detailed in the table below titled “Reconciliation of Summary Compensation Table Total to Compensation Actually Paid” but do not necessarily reflect cash or equity value transferred to the executive outright.
(2)
For 2020, 2021 and 2022, our named executives were: Mr. Foster, Mr. David Smith (former Chief Financial Officer), Mr. Barbo, Ms. Girshick and Mr. LaPlume. Ms. Pease became a named executive in 2022 when she assumed the role of Chief Financial Officer. For 2023, our named executive officers are: Mr. Foster, Ms. Pease, Mr. Barbo, Ms. Girshick and Mr. LaPlume.
(3)
TSR was measured for 2020 for the period from December 27, 2019 to December 24, 2020; for 2021 for the period from December 27, 2019 to December 23, 2021; for 2022 for the period from December 27, 2019 to December 30, 2022; and for 2023 for the period from January 2, 2023 to December 29, 2023. The peer group is the S&P 500 Health Care Index.
Reconciliation of Summary Compensation Table Total to Compensation Actually Paid
The table below details the adjustments made to the total compensation paid as disclosed in the Summary Compensation to arrive at the compensation actually paid for our CEO and the average for our other named executives:
Year
Executive(s)
SCT Total
Deduct
Current
Year Equity
Grants(1)
Deduct
Change in
Value of
Pension or
Non-qualified
Deferred
Compensation
Earnings
from SCT(1)
Add
Pension
Value
Attributable
Current
Year’s
Service
Add Year
End Fair
Value of
Equity
Awards
Granted in
Current
Year(2)
Add Change
in Value of
Prior Years’
Grants that
Remained
Unvested at
Year End(3)
Add Change
in Value of
Prior Years’
Grants that
Vested in
Current
Year(4)
Compensation
Actually
Paid
2023
CEO
14,096,924 11,433,096 788,969 14,598,471 476,837 375,803 18,903,908
Other Named
Executives
3,692,047 2,474,809 3,338,251 166,941 21,052 4,743,481
2022
CEO
13,447,872 10,939,883 989,746 7,459,567 (10,070,482) (12,426,419) (11,539,600)
Other Named
Executives
3,298,049 2,418,873 1,848,071 (1,380,356) (1,744,862) (397,971)
2021
CEO
13,705,580 10,422,089 823,145 15,460,355 13,268,849 10,332,771 43,168,611
Other Named
Executives
4,392,906 3,203,012 3,965,695 2,276,985 1,774,415 9,206,989
2020
CEO
13,483,411 10,218,426 194,061 719,230 19,616,106 15,605,432 11,007,126 50,018,818
Other Named
Executives
2,773,587 1,766,995 3,392,036 2,649,868 1,807,611 8,856,107
(1)
These amounts were reported in the Stock Awards, Option Awards and Change in Pension Value and Non-qualified Deferred Compensation Earnings columns of our Summary Compensation Table included in our Proxy Statement in each respective year.
(2)
These values are calculated by valuing RSUs granted in the respective year with the stock price on the final trading day of that fiscal year, valuing PSUs granted in the respective year with the Monte Carlo value on the final trading day of that fiscal year plus the impact of EPS performance in the first year of the performance period and valuing options granted in the respective year with the Black-Scholes value on the final trading day of that fiscal year.
(3)
For any portion of a grant made prior to the respective year that remained unvested throughout that year, the value at the end of that year is compared to the value at the end of the prior year using the methodology described in footnote 2.
(4)
For any portion of a grant made prior to the respective year that vested in that year, the value of the vested portion as of the vest date is compared to the value at the end of the prior year using the methodology described in footnote 2.
     
Company Selected Measure Name EPS      
Named Executive Officers, Footnote
(2)
For 2020, 2021 and 2022, our named executives were: Mr. Foster, Mr. David Smith (former Chief Financial Officer), Mr. Barbo, Ms. Girshick and Mr. LaPlume. Ms. Pease became a named executive in 2022 when she assumed the role of Chief Financial Officer. For 2023, our named executive officers are: Mr. Foster, Ms. Pease, Mr. Barbo, Ms. Girshick and Mr. LaPlume.
     
Peer Group Issuers, Footnote
(3)
TSR was measured for 2020 for the period from December 27, 2019 to December 24, 2020; for 2021 for the period from December 27, 2019 to December 23, 2021; for 2022 for the period from December 27, 2019 to December 30, 2022; and for 2023 for the period from January 2, 2023 to December 29, 2023. The peer group is the S&P 500 Health Care Index.
     
PEO Total Compensation Amount $ 14,096,924 $ 13,447,872 $ 13,705,580 $ 13,483,411
PEO Actually Paid Compensation Amount 18,903,908 (11,539,600) 43,168,611 50,018,818
Non-PEO NEO Average Total Compensation Amount 3,692,047 3,298,049 4,392,906 2,773,587
Non-PEO NEO Average Compensation Actually Paid Amount $ 4,743,481 (397,971) 9,206,989 8,856,107
Adjustment to Non-PEO NEO Compensation Footnote
Reconciliation of Summary Compensation Table Total to Compensation Actually Paid
The table below details the adjustments made to the total compensation paid as disclosed in the Summary Compensation to arrive at the compensation actually paid for our CEO and the average for our other named executives:
Year
Executive(s)
SCT Total
Deduct
Current
Year Equity
Grants(1)
Deduct
Change in
Value of
Pension or
Non-qualified
Deferred
Compensation
Earnings
from SCT(1)
Add
Pension
Value
Attributable
Current
Year’s
Service
Add Year
End Fair
Value of
Equity
Awards
Granted in
Current
Year(2)
Add Change
in Value of
Prior Years’
Grants that
Remained
Unvested at
Year End(3)
Add Change
in Value of
Prior Years’
Grants that
Vested in
Current
Year(4)
Compensation
Actually
Paid
2023
CEO
14,096,924 11,433,096 788,969 14,598,471 476,837 375,803 18,903,908
Other Named
Executives
3,692,047 2,474,809 3,338,251 166,941 21,052 4,743,481
2022
CEO
13,447,872 10,939,883 989,746 7,459,567 (10,070,482) (12,426,419) (11,539,600)
Other Named
Executives
3,298,049 2,418,873 1,848,071 (1,380,356) (1,744,862) (397,971)
2021
CEO
13,705,580 10,422,089 823,145 15,460,355 13,268,849 10,332,771 43,168,611
Other Named
Executives
4,392,906 3,203,012 3,965,695 2,276,985 1,774,415 9,206,989
2020
CEO
13,483,411 10,218,426 194,061 719,230 19,616,106 15,605,432 11,007,126 50,018,818
Other Named
Executives
2,773,587 1,766,995 3,392,036 2,649,868 1,807,611 8,856,107
(1)
These amounts were reported in the Stock Awards, Option Awards and Change in Pension Value and Non-qualified Deferred Compensation Earnings columns of our Summary Compensation Table included in our Proxy Statement in each respective year.
(2)
These values are calculated by valuing RSUs granted in the respective year with the stock price on the final trading day of that fiscal year, valuing PSUs granted in the respective year with the Monte Carlo value on the final trading day of that fiscal year plus the impact of EPS performance in the first year of the performance period and valuing options granted in the respective year with the Black-Scholes value on the final trading day of that fiscal year.
(3)
For any portion of a grant made prior to the respective year that remained unvested throughout that year, the value at the end of that year is compared to the value at the end of the prior year using the methodology described in footnote 2.
(4)
For any portion of a grant made prior to the respective year that vested in that year, the value of the vested portion as of the vest date is compared to the value at the end of the prior year using the methodology described in footnote 2.
     
Compensation Actually Paid vs. Total Shareholder Return
[MISSING IMAGE: bc_tsr-bw.jpg]
     
Compensation Actually Paid vs. Net Income
The relationship between compensation actually paid and Net income attributable to common shareholders is shown below.
[MISSING IMAGE: bc_netincome-bw.jpg]
     
Compensation Actually Paid vs. Company Selected Measure
Non-GAAP EPS is a component of long-term incentive design for our named executives. The relationship between compensation actually paid and non-GAAP EPS is shown below.
[MISSING IMAGE: bc_nongappeps-bw.jpg]
     
Total Shareholder Return Vs Peer Group
[MISSING IMAGE: lc_crltsr-bw.jpg]
     
Tabular List, Table
The three measures listed below are the most important for determining compensation for our named executives. Revenue and Non-GAAP Operating Income are the main components of EICP (short-term incentive), and Non-GAAP EPS determines baseline performance of PSUs granted to our named executives (long-term incentive). For more details on the elements of our compensation program, please see “Compensation Discussion and Analysis—Compensation Elements” on pages 48-57 of this Proxy Statement.
Most Important
Performance Measures
Revenue
Non-GAAP EPS
Non-GAAP Operating Income
     
Total Shareholder Return Amount $ 156 143 243 166
Peer Group Total Shareholder Return Amount 143 140 141 111
Net Income (Loss) $ 474,624,000 $ 486,226,000 $ 390,982,000 $ 364,304,000
Company Selected Measure Amount 10.67 11.12 10.32 8.13
PEO Name Ms. Pease      
Measure:: 1        
Pay vs Performance Disclosure        
Name Revenue      
Measure:: 2        
Pay vs Performance Disclosure        
Name Non-GAAP EPS      
Measure:: 3        
Pay vs Performance Disclosure        
Name Non-GAAP Operating Income      
PEO | Equity Awards Value In Summary Compensation Table (Grant Date Value)        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount $ (11,433,096) $ (10,939,883) $ (10,422,089) $ (10,218,426)
PEO | Deduct: Pension Adjustments Pension Value In Summary Compensation Table [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount (194,061)
PEO | Pension Adjustments Service Cost [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 788,969 989,746 823,145 719,230
PEO | Year-end Fair Value Of Awards Granted In The Current Fiscal Year [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 14,598,471 7,459,567 15,460,355 19,616,106
PEO | Change In Fair Value Of Outstanding And Unvested Awards Granted In Prior Fiscal Years [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 476,837 (10,070,482) 13,268,849 15,605,432
PEO | Change In Fair Value As Of Vesting Date Of Prior Year Awards Vested During Current Year [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 375,803 (12,426,419) 10,332,771 11,007,126
Non-PEO NEO | Equity Awards Value In Summary Compensation Table (Grant Date Value)        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount (2,474,809) (2,418,873) (3,203,012) (1,766,995)
Non-PEO NEO | Deduct: Pension Adjustments Pension Value In Summary Compensation Table [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount
Non-PEO NEO | Pension Adjustments Service Cost [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount
Non-PEO NEO | Year-end Fair Value Of Awards Granted In The Current Fiscal Year [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 3,338,251 1,848,071 3,965,695 3,392,036
Non-PEO NEO | Change In Fair Value Of Outstanding And Unvested Awards Granted In Prior Fiscal Years [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 166,941 (1,380,356) 2,276,985 2,649,868
Non-PEO NEO | Change In Fair Value As Of Vesting Date Of Prior Year Awards Vested During Current Year [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount $ 21,052 $ (1,744,862) $ 1,774,415 $ 1,807,611