7. EMPLOYEE BENEFIT PLANS

Stock-Based Compensation Plans. The Company accounts for stock-based compensation in accordance with the provisions of ASC 718, Compensation-Stock Compensation (“ASC 718”), using the Black-Scholes option pricing model to determine the fair value of stock options and stock appreciation rights at the date of grant. The Company’s grants under its current stock-based compensation plans generally include: (i) stock options, restricted stock and restricted stock units for its international employees, (ii) restricted stock units for its non-employee directors and (iii) stock appreciation rights, restricted stock and restricted stock units for its U.S.-based employees.

The following table summarizes stock options and stock appreciation rights activity during the First Quarter:

					Weighted-
					Average
			Weighted-		Remaining	Aggregate
			Average		Contractual	Intrinsic
Stock Options and Stock Appreciation Rights	Shares		Exercise Price		Term (Years)	Value
	in thousands					in thousands
Outstanding at December 28, 2013	678		$	76.15	6.2	$	31,794
Granted	84		113.04
Exercised	(21	)	36.01			1,758
Forfeited or expired	(3	)	117.39
Outstanding at April 5, 2014	738		81.38		6.2	28,427
Exercisable at April 5, 2014	538		$	68.86	5.7	$	27,277

The aggregate intrinsic value shown in the table above is before income taxes and is based on (i) the exercise price for outstanding and exercisable options/rights at April 5, 2014 and (ii) the fair market value of the Company’s common stock on the exercise date for options/rights that were exercised during the First Quarter.

Stock Options and Stock Appreciation Rights Outstanding and Exercisable. The following table summarizes information with respect to stock options and stock appreciation rights outstanding and exercisable at April 5, 2014:

Stock Options Outstanding					Stock Options Exercisable
				Weighted-
		Weighted-		Average		Weighted-
		Average		Remaining		Average
Range of	Number of	Exercise		Contractual	Number of	Exercise
Exercise Prices	Shares	Price		Term (Years)	Shares	Price
	in thousands				in thousands
$13.65 - $21.51	77	$	15.34	4.2	77	$	15.34
$21.51 - $34.59	60	29.39		2.8	60	29.39
$34.59 - $67.10	76	39.80		5.3	76	39.80
$67.10 - $116.88	111	80.91		7.0	107	80.76
$116.88 - $131.46	176	128.09		7.9	115	128.02
Total	500	$	75.04	6.1	435	$	67.50

Stock Appreciation Rights Outstanding					Stock Appreciation Rights Exercisable
				Weighted-
		Weighted-		Average		Weighted-
		Average		Remaining		Average
Range of	Number of	Exercise		Contractual	Number of	Exercise
Exercise Prices	Shares	Price		Term (Years)	Shares	Price
	in thousands				in thousands
$13.65 - $21.51	20	$	13.65	3.0	20	$	13.65
$21.51 - $34.59	6	30.71		2.0	6	30.71
$34.59 - $67.10	16	42.68		4.3	14	39.87
$67.10 - $116.88	155	104.10		7.2	36	87.68
$116.88 - $131.46	41	127.91		5.8	27	127.91
Total	238	$	94.71	6.3	103	$	74.60

Restricted Stock and Restricted Stock Units. The following table summarizes restricted stock and restricted stock unit activity during the First Quarter:

Restricted Stock and Restricted Stock Units	Number of Shares		Weighted-Average Grant Date Fair Value
	in thousands

Nonvested at December 28, 2013	219		$	99.27
Granted	133		113.10
Vested	(87	)	86.20
Forfeited	(2	)	103.26
Nonvested at April 5, 2014	263		$	110.60

The total fair value of restricted stock and restricted stock units vested during the First Quarter was approximately $9.9 million.