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Stock-Based Compensation (Tables)
12 Months Ended
Dec. 31, 2016
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]  
Summary of Stock Option Activity

The following table summarizes stock option activity for the three years ended December 31, 2016:

 

 

 

 

 

 

 

 

 

 

 

Weighted

 

 

 

 

 

 

 

 

 

 

 

 

Weighted

 

 

Average

 

 

 

 

 

 

 

 

 

 

 

 

Average

 

 

Remaining

 

 

Aggregate

 

 

Shares

 

 

Exercise

 

 

Contractual

 

 

Intrinsic Value

 

 

Under Options

 

 

Price

 

 

Life Years

 

 

(in thousands)

 

Options outstanding and exercisable at December 28, 2013

 

 

586,766

 

 

$

 

19.30

 

 

 

 

4.01

 

 

$

 

2,965

 

Exercised

 

 

(88,152

)

 

 

 

12.68

 

 

 

 

 

 

 

 

 

869

 

Cancelled/Forfeited

 

 

(4,131

)

 

 

 

3.25

 

 

 

 

 

 

 

 

 

 

 

Options outstanding and exercisable at January 3, 2015

 

 

494,483

 

 

 

 

20.61

 

 

 

 

3.30

 

 

 

 

2,772

 

Exercised

 

 

(185,627

)

 

 

 

19.72

 

 

 

 

 

 

 

 

 

1,543

 

Cancelled/Forfeited

 

 

(63

)

 

 

 

11.50

 

 

 

 

 

 

 

 

 

 

 

Options outstanding and exercisable at January 2, 2016

 

 

308,793

 

 

 

 

21.15

 

 

 

 

2.46

 

 

 

 

773

 

Exercised

 

 

(107,338

)

 

 

 

23.46

 

 

 

 

 

 

 

 

 

1,043

 

Cancelled/Forfeited

 

 

(938

)

 

 

 

14.36

 

 

 

 

 

 

 

 

 

 

 

Options outstanding and exercisable at December 31, 2016

 

 

200,517

 

 

$

 

19.94

 

 

 

 

1.65

 

 

$

 

3,929

 

 

Summary of Restricted Stock Activity

The following table summarizes restricted stock activity for fiscal years ended December 31, 2016, January 2, 2016 and January 3, 2015:

 

 

 

 

 

 

 

 

 

 

 

 

 

Weighted Average

 

 

 

 

 

 

 

 

 

 

 

 

 

Grant-Date

 

 

 

 

 

 

 

 

Shares

 

 

Fair Value

 

Outstanding and nonvested at December 28, 2013

 

 

 

 

 

 

 

 

518,835

 

 

$

 

23.56

 

Granted

 

 

 

 

 

 

 

 

317,827

 

 

 

 

22.63

 

Vested

 

 

 

 

 

 

 

 

(219,894

)

 

 

 

23.56

 

Forfeited

 

 

 

 

 

 

 

 

(16,115

)

 

 

 

23.03

 

Outstanding and nonvested at January 3, 2015

 

 

 

 

 

 

 

 

600,653

 

 

 

 

23.08

 

Granted

 

 

 

 

 

 

 

 

314,595

 

 

 

 

26.59

 

Vested

 

 

 

 

 

 

 

 

(265,737

)

 

 

 

23.19

 

Forfeited

 

 

 

 

 

 

 

 

(11,956

)

 

 

 

23.85

 

Outstanding and nonvested at January 2, 2016

 

 

 

 

 

 

 

 

637,555

 

 

 

 

24.75

 

Granted

 

 

 

 

 

 

 

 

314,944

 

 

 

 

28.34

 

Vested

 

 

 

 

 

 

 

 

(255,156

)

 

 

 

24.56

 

Forfeited

 

 

 

 

 

 

 

 

(37,200

)

 

 

 

25.80

 

Outstanding and nonvested at December 31, 2016

 

 

 

 

 

 

 

 

660,143

 

 

$

 

26.48

 

 

Summary of Allocation of Stock-Based Compensation Expense in Condensed Consolidated Statements of Earnings

Stock-based compensation expense recognized and included in “Selling, general and administrative expenses” in the consolidated statements of earnings, and related tax benefits were as follows:

 

 

 

 

 

December 31,

 

 

January 2,

 

 

January 3,

 

 

 

 

 

2016

 

 

2016

 

 

2015

 

(In thousands)

 

 

 

(52 Weeks)

 

 

(52 Weeks)

 

 

(53 Weeks)

 

Restricted stock

 

 

 

$

 

7,936

 

 

$

 

7,240

 

 

$

 

6,939

 

Tax benefits

 

 

 

 

 

(2,976

)

 

 

 

(2,758

)

 

 

 

(2,632

)

Stock-based compensation expense, net of tax

 

 

 

$

 

4,960

 

 

$

 

4,482

 

 

$

 

4,307