Stock-Based Compensation Plans (Tables)

9 Months Ended

Oct. 01, 2017

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

Schedule of Stock Valuation Assumptions

The following assumptions were used in the valuation of stock options granted in 2017:

	2017
Expected volatility	32.3%
Risk-free interest rate range	1.0% to 2.5%
Expected life in years	7.2
Expected dividend yield	—

Stock Option Transactions for Employee Stock Option Plans

Stock option transactions for the third quarter and nine months ended October 1, 2017 are summarized as follows:

	2017
	Third Quarter				Nine Months
	Shares		Weighted Average Exercise Price		Shares		Weighted Average Exercise Price
Beginning balance	2,515,100		$	82.26	2,175,442		$	70.44
Granted	—		$	—	543,880		$	123.40
Exercised	(104,496	)	$	66.49	(289,178	)	$	64.84
Canceled	(13,147	)	$	104.92	(32,687	)	$	92.52
Ending balance	2,397,457		$	82.83	2,397,457		$	82.83
Options exercisable at end of period	1,545,815		$	69.77	1,545,815		$	69.77

Schedule of Restricted Stock Activity

The following table shows the restricted stock activity for the first nine months of 2017:

Restricted stock:	Shares		Weighted average fair value per share
Balance, January 1, 2017	95,304		$	83.87
Granted	23,002		$	114.42
Vested	(30,704	)	$	87.98
Forfeited/Canceled	(1,068	)	$	87.59
Balance, October 1, 2017	86,534		$	90.49