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Stock-Based Compensation (Tables) | 12 Months Ended
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Dec. 30, 2023
Share-Based Payment Arrangement [Abstract] |
Schedule of share-based compensation, stock options, activity | The following table provides a reconciliation of outstanding stock options for the fiscal year ended December 30, 2023.
| Shares Under Option |  | Weighted Average Price |  | Weighted Average Remaining Contract Life (Years) |  | Aggregate Intrinsic Value (000’s)
Outstanding December 31, 2022 | 617,856 |  |  | $ | 176.79 |  |  |  |  |
Granted | 87,633 |  |  | 240.94 |  |  |  |  |
Exercised | (97,941) |  |  | 146.32 |  |  |  |  |
Forfeited | (9,191) |  |  | 166.63 |  |  |  |  |
Outstanding December 30, 2023 | 598,357 |  |  | 191.33 |  |  | 3.9 |  | $ | 45,627 |
Exercisable December 30, 2023 | 434,678 |  |  | 172.69 |  |  | 3.2 |  | 41,246 |
Schedule of nonvested restricted stock units activity | The following table provides a reconciliation of non-vested restricted share and share unit awards ("RSU") for the fiscal year ended December 30, 2023.
| Shares |  | Weighted Average Grant-Date Fair Value
Nonvested December 31, 2022 | 168,286 |  |  | $ | 213.65 |
Granted | 93,310 |  |  | 236.56 |
Vested | (88,760) |  |  | 193.21 |
Forfeited | (12,338) |  |  | 229.09 |
Nonvested December 30, 2023 | 160,498 |  |  | 237.09 |
Schedule of share-based payment award, stock options, valuation assumptions | The Company uses the Black-Scholes option valuation model to determine the fair value of stock option awards granted. The weighted average fair value of and related assumptions for options granted are as follows:
| 2023 |  | 2022 |  | 2021
Weighted average fair value of options granted | $77.40 |  | $70.39 |  | $74.04
Assumptions: |  |  |  |  |
Risk-free interest rate | 3.67% |  | 2.83% |  | 0.66%
Expected dividend yield | 1.00% |  | 0.92% |  | 0.72%
Expected stock price volatility | 36.0% |  | 35.0% |  | 35.0%
Expected life of options (years) | 4.4 |  | 4.4 |  | 4.4

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- Definition Tabular disclosure of the significant assumptions used during the year to estimate the fair value of stock options, including, but not limited to: (a) expected term of share options and similar instruments, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 718 -SubTopic 10 -Subparagraph (f)(2) -Name Accounting Standards Codification -Paragraph 2 -Section 50 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 + Details
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