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Share-Based Employee Compensation (Tables) | 12 Months Ended
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Sep. 27, 2020
Share-based Payment Arrangement, Noncash Expense [Abstract] |
Components of Share-Based Compensation Expense | The components of share-based compensation expense, included within “Selling, general, and administrative expenses” in our consolidated statement of earnings, in each fiscal year are as follows (in thousands):
|  | 2020 |  | 2019 |  | 2018
Nonvested stock units |  | $ | 3,526 |  |  | $ | 5,458 |  |  | $ | 5,737 |
Stock options |  | 351 |  |  | 936 |  |  | 1,790 |
Performance share awards |  | 254 |  |  | 1,417 |  |  | 1,236 |
Nonvested restricted stock awards |  | — |  |  | — |  |  | 33 |
Non-management directors’ deferred compensation |  | 263 |  |  | 263 |  |  | 350 |
Total share-based compensation expense |  | $ | 4,394 |  |  | $ | 8,074 |  |  | $ | 9,146 |
Summary of RSU Activity | The following is a summary of RSU activity for fiscal 2020:
|  | Shares |  | Weighted- Average Grant Date Fair Value
RSUs outstanding at September 29, 2019 |  | 311,845 |  |  | $ | 66.18 |
Granted |  | 76,429 |  |  | $ | 73.94 |
Released |  | (126,694) |  |  | $ | 68.39 |
Forfeited |  | (86,439) |  |  | $ | 83.05 |
RSUs outstanding at September 27, 2020 |  | 175,141 |  |  | $ | 59.65 |
Summary of Stock Option Activity | The following is a summary of stock option activity for fiscal 2020:
| Shares |  | Weighted- Average Exercise Price |  | Weighted- Average Remaining Contractual Term (Years) |  | Aggregate Intrinsic Value (in thousands)
Options outstanding at September 29, 2019 | 266,558 |  |  | $ | 89.54 |  |  |  |  |
Granted | 129,173 |  |  | $ | 75.23 |  |  |  |  |
Exercised | (62,305) |  |  | $ | 74.57 |  |  |  |  |
Forfeited | (122,594) |  |  | $ | 77.95 |  |  |  |  |
Expired | (3,369) |  |  | $ | 97.31 |  |  |  |  |
Options outstanding at September 27, 2020 | 207,463 |  |  | $ | 91.85 |  |  | 2.48 |  | $ | 252 |
Options exercisable at September 27, 2020 | 174,104 |  |  | $ | 94.67 |  |  | 1.81 |  | $ | 107 |
Schedule of Weighted-Average Assumptions | The following table presents the weighted-average assumptions used for stock option grants in each fiscal year, along with the related weighted-average grant date fair value:
| 2020 |  | 2019 |  | 2018
Risk-free interest rate | 1.7% |  | N/A |  | 2.4%
Expected dividends yield | 2.1% |  | N/A |  | 1.8%
Expected stock price volatility | 28.1% |  | N/A |  | 28.8%
Expected life of options (in years) | 3.47 |  | N/A |  | 3.40
Weighted-average grant date fair value | $13.97 |  | N/A |  | $18.49
Summary of PSU Activity | The following is a summary of performance share award activity for fiscal 2020:
| Shares |  | Weighted- Average Grant Date Fair Value
Performance share awards outstanding at September 29, 2019 | 75,490 |  |  | $ | 83.40 |
Granted | 23,600 |  |  | $ | 81.02 |
Issued | (21,509) |  |  | $ | 97.51 |
Forfeited | (50,336) |  |  | $ | 83.31 |
Performance adjustments | (2,203) |  |  | $ | 86.84 |
Performance share awards outstanding at September 27, 2020 | 25,042 |  |  | $ | 63.59 |
Summary of Stock Equivalent Activity | The following is a summary of the stock equivalent activity for fiscal 2020:
| Stock Equivalents |  | Weighted- Average Grant Date Fair Value
Stock equivalents outstanding at September 29, 2019 | 100,005 |  |  | $ | 38.87 |
Deferred directors’ compensation | 3,851 |  |  | $ | 81.56 |
Dividend equivalents | 2,224 |  |  | $ | 68.80 |
Stock distribution | (204) |  |  | $ | 86.74 |
Stock equivalents outstanding at September 27, 2020 | 105,876 |  |  | $ | 40.96 |

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- Definition Tabular disclosure of cost recognized for award under share-based payment arrangement by plan. Includes, but is not limited to, related tax benefit. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(1) -URI http://asc.fasb.org/extlink&oid=116856206&loc=d3e5070-113901 + Details
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- Definition Tabular disclosure of the changes in outstanding nonvested performance-based units. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(2) -URI http://asc.fasb.org/extlink&oid=116856206&loc=d3e5070-113901 + Details
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- Definition Tabular disclosure of the number and weighted-average exercise prices (or conversion ratios) for stock awards granted to nonemployee directors that were outstanding at the beginning and end of the year, and the number of awards that were granted, exercised or converted, forfeited, and expired during the year. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (g) -URI http://asc.fasb.org/extlink&oid=116856206&loc=d3e5070-113901 + Details
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- Definition Tabular disclosure of the number and weighted-average grant date fair value for restricted stock units that were outstanding at the beginning and end of the year, and the number of restricted stock units that were granted, vested, or forfeited during the year. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(1) -URI http://asc.fasb.org/extlink&oid=116856206&loc=d3e5070-113901 + Details
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- Definition Tabular disclosure for stock option plans. Includes, but is not limited to, outstanding awards at beginning and end of year, grants, exercises, forfeitures, and weighted-average grant date fair value. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=116856206&loc=d3e5070-113901 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (e) -URI http://asc.fasb.org/extlink&oid=116856206&loc=d3e5070-113901 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(1) -URI http://asc.fasb.org/extlink&oid=116856206&loc=d3e5070-113901 + Details
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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 -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (f)(2) -URI http://asc.fasb.org/extlink&oid=116856206&loc=d3e5070-113901 + Details
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