Stock-Based Compensation Plans (Tables)

6 Months Ended

Jun. 28, 2020

Share-based Payment Arrangement [Abstract]

Schedule of Stock Valuation Assumptions

The following assumptions were used in the valuation of stock options granted in the first six months of 2020:

	2020
Expected volatility	23.7%
Risk-free interest rate range	1.50% to 1.75%
Expected life in years	6.6
Expected dividend yield	—

Stock Option Transactions for Employee Stock Option Plans

Stock option transactions for the second quarter and first six months of 2020 are summarized as follows:

	2020
	Second Quarter			Six Months
	Shares	Weighted Average Exercise Price		Shares	Weighted Average Exercise Price
Beginning balance	2,135,096	$	160.32	1,988,576	$	130.66
Granted	—	$	—	246,453	$	383.18
Exercised	(196,766)	$	91.48	(288,173)	$	97.97
Canceled	(11,254)	$	279.44	(19,780)	$	246.79
Ending balance	1,927,076	$	166.66	1,927,076	$	166.66
Options exercisable at end of period	1,336,293	$	116.16	1,336,293	$	116.16

Schedule of Restricted Stock Activity

The following table shows the restricted stock activity for the first six months of 2020:

	Shares	Weighted average fair value per share
Balance, December 29, 2019	56,412	$	158.62
Granted	10,080	$	360.33
Vested	(23,087)	$	114.74
Balance, June 28, 2020	43,405	$	228.80