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STOCK-BASED COMPENSATION (Tables)

12 Months Ended

Dec. 29, 2018

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Summary of recorded stock-based compensation cost

The Company recorded stock-based compensation cost as follows:

	For the fiscal years ended
(dollars in thousands)	December 29, 2018				December 30, 2017				December 31, 2016
Stock options	$	4,788			$	4,244			$	4,237
Restricted stock:
Time-based awards	7,938				7,532				7,451
Performance-based awards	744				4,602				3,974
Stock awards	1,203				1,171				1,185
Total	$	14,673			$	17,549			$	16,847

The Company recognizes compensation cost ratably over the applicable performance periods based on the estimated probability of achievement of its performance targets at the end of each period. During fiscal 2018, the Company revised the estimated achievement of performance targets related to certain performance-based grants resulting in a $3.9 million reduction to stock compensation expense.

Summary of stock option activity

Changes in the Company's stock options for the fiscal year ended December 29, 2018 were as follows:

	Number of shares			Weighted- average exercise price		Weighted-average remaining contractual terms (years)		Aggregate intrinsic value (in thousands)
Outstanding, December 30, 2017	1,494,223			$61.76
Granted	255,532			$118.43
Exercised	(261,113	)		$40.58
Forfeited	(40,533	)		$98.01
Expired	(968	)		$95.10
Outstanding, December 29, 2018	1,447,141			$74.55		5.96		$	21,714
Vested and Expected to Vest, December 29, 2018	1,377,440			$73.10		5.82		$	21,714
Exercisable, December 29, 2018	851,264			$57.33		4.31		$	21,714

Assumptions used for grants and summary of stock options and restricted stock activity

The table below presents the weighted-average assumptions used to calculate the fair value of options granted in each of the respective fiscal years:

	For the fiscal years ended
	December 29, 2018				December 30, 2017				December 31, 2016
Expected volatility	22.93		%		26.20		%		26.95		%
Risk-free interest rate	2.75		%		2.06		%		1.33		%
Expected term (years)	6.0				6.0				6.0
Dividend yield	1.47		%		1.77		%		1.45		%
Weighted average fair value of options granted	$	27.36			$	19.57			$	21.41

Summary of restricted stock award activity

The following table summarizes activity related to all restricted stock awards during the fiscal year ended December 29, 2018:

	Restricted stock awards			Weighted-average grant-date fair value
Outstanding, December 30, 2017	397,848			$	85.44
Granted	143,085			$	118.03
Vested	(151,321	)		$	84.56
Forfeited	(15,604	)		$	97.83
Outstanding, December 29, 2018	374,008			$	97.57

Summary of issued shares of common stock to non-management board members

Fiscal year		Number of shares granted			Weighted-average fair value per share
2016		53,070			$	90.66
2017		60,952			$	83.84
2018		45,625			$	120.25

During fiscal years 2018, 2017, and 2016, such awards were as follows:

Fiscal year		Number of shares issued		Fair value per share		Aggregate value (in thousands)
2016		12,758		$101.10		$1,290
2017		13,860		$84.46		$1,171
2018		10,971		$109.67		$1,203

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Tabular disclosure of components of a stock option or other award plan under which equity-based compensation is awarded to employees, typically comprised of the amount of unearned compensation (deferred compensation cost), compensation expense, and changes in the quantity and fair value of the shares (or other type of equity) granted, exercised, forfeited, and issued and outstanding pertaining to that plan. Disclosure may also include nature and general terms of such arrangements that existed during the period and potential effects of those arrangements on shareholders, effect of compensation cost arising from equity-based payment arrangements on the income statement, method of estimating the fair value of the goods or services received, or the fair value of the equity instruments granted, during the period, cash flow effects resulting from equity-based payment arrangements and, for registrants that accelerate vesting of out of the money share options, reasons for the decision to accelerate.

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Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
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