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Stock-Based Compensation (Tables)
12 Months Ended
Dec. 25, 2021
Share-based Payment Arrangement [Abstract]  
Schedule of Stock Option Activity
The following table summarizes stock option activity:
 Number of Shares
(in thousands)
Weighted Average Exercise PriceAggregate Intrinsic Value
(in thousands)
Weighted Average Remaining Term (in years)
Stock options outstanding at December 26, 202069 $78.40 $4,291 9.1
Options granted42 $129.11 
Options exercised(6)$66.94 
Options forfeited(11)$104.99 
Stock options outstanding at December 25, 202194 $98.87 $6,997 8.6
Stock options exercisable at December 25, 202118 $79.57 $1,678 8.2
Schedule of Weighted-average Option Valuation Assumptions The risk-free rate for periods within the expected life of the option is based on the U.S. Treasury yield curve in effect at the time of grant. The weighted-average assumptions used in the model were as follows:
20212020
Risk-free interest0.6%0.7%
Expected life4.2 years4.2 years
Expected dividend yield0.4%0.5%
Expected volatility41.8%34.4%
Weighted-average grant date fair value$42.51$22.99
Schedule of Restricted and Performance Stock Unit Activity
The following table summarizes activity related to restricted stock units:
Number of Shares
(in thousands)
Weighted Average Grant Date Fair Value
Nonvested restricted stock units at December 26, 202054 $76.27 
Units granted26 138.38 
Units vested(28)67.23 
Units forfeited(11)109.43 
Nonvested restricted stock units at December 25, 202141 $111.52 
Schedule of Non-vested Options Activity
The following table summarizes activity related to performance stock units:
Number of Shares
(in thousands)
Weighted Average Grant Date Fair Value
Nonvested performance stock units at December 26, 2020153 $69.08 
Units granted (a)
114 $96.16 
Units vested (a)
(121)$54.83 
Units forfeited(10)$104.27 
Nonvested performance stock units at December 25, 2021136 $101.77 
(a) Includes 61,000 incremental PSUs granted in fiscal year 2018 that vested in fiscal year 2021 at greater than 100% of target based on performance.