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Stock-Based Compensation (Tables)

12 Months Ended

Jan. 02, 2021

Share-based Payment Arrangement [Abstract]

Summary of Unvested Restricted Shares Issued Under Stock Award Plans

A summary of the unvested Restricted Awards and Performance Awards is as follows:

			Restricted Awards						Weighted- Average Grant Date Fair Value						Performance Awards						Weighted- Average Grant Date Fair Value
Unvested at December 30, 2017			2,025,072						$	21.70					1,690,668						$	21.54
Granted			609,276						31.81						384,657						35.10
Vested			(560,263)						22.93						(229,023)						26.64
Forfeited			(153,712)						23.81						(215,284)						26.18
Unvested at December 29, 2018			1,920,373						$	24.38					1,631,018						$	23.42
Granted			554,092						34.73						370,830						37.10
Vested			(681,938)						24.63						(654,021)						17.46
Forfeited			(173,611)						28.47						(220,725)						19.74
Unvested at December 28, 2019			1,618,916						$	27.36					1,127,102						$	31.94
Granted			1,416,117						22.59						455,207						34.00
Vested			(1,122,811)						22.07						(451,334)						23.51
Forfeited			(268,205)						29.67						(125,653)						35.91
Unvested at January 2, 2021			1,644,017						$	26.39					1,005,322						$	35.25

Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]

The estimated weighted-average fair value for each option granted was $8.20, $9.07 and $8.20 per share for fiscal years 2020, 2019 and 2018, respectively, with the following weighted-average assumptions.

			Fiscal Year
			2020						2019						2018
Expected market price volatility (1)			31.2		%				29.6		%				29.6		%
Risk-free interest rate (2)			1.5		%				2.5		%				2.5		%
Dividend yield (3)			1.2		%				1.0		%				0.8		%
Expected term (4)			4 years						4 years						4 years

(1)Based on historical volatility of the Company’s common stock. The expected volatility is based on the daily percentage change in the price of the stock over the four years prior to the grant.

(2)Represents the U.S. Treasury yield curve in effect for the expected term of the option at the time of grant.

(3)Represents the Company’s estimated cash dividend yield for the expected term.

(4)Represents the period of time that options granted are expected to be outstanding. As part of the determination of the expected term, the Company concluded that all employee groups exhibit similar exercise and post-vesting termination behavior.

Summary of Transactions Under Stock Option Plans

A summary of the stock option transactions is as follows:

			Shares Under Option						Weighted-Average Exercise Price						Average Remaining Contractual Term (Years)						Aggregate Intrinsic Value (In millions)
Outstanding at December 30, 2017			6,089,664						$	20.05					5.8						$	72.1
Granted			28,171						31.85
Exercised			(1,359,387)						17.69
Canceled			(56,446)						17.12
Outstanding at December 29, 2018			4,702,002						$	20.83					5.2						$	54.5
Granted			25,471						34.81
Exercised			(681,389)						17.87
Canceled			(12,977)						23.97
Outstanding at December 28, 2019			4,033,107						$	21.41					4.4						$	49.8
Granted			28,171						32.85
Exercised			(788,883)						18.39
Canceled			(12,990)						25.39
Outstanding at January 2, 2021			3,259,405						$	22.22					3.9						$	29.7
Unvested at January 2, 2021			(54,541)
Exercisable at January 2, 2021			3,204,864						$	22.03					3.8						$	29.7

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Tabular disclosure of option exercise prices, by grouped ranges, including the upper and lower limits of the price range, the number of shares under option, weighted average exercise price and remaining contractual option terms.

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-Name Accounting Standards Codification
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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.

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Schedule of share based compensation arrangement by share based payment award option non vested restricted share.

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