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Incentive Plans and Stock-Based Compensation (Tables)
3 Months Ended
Feb. 27, 2016
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Schedule of nonqualified stock option activity
The following table summarizes activity for the three months ended February 27, 2016 with respect to stock options granted by the Company and includes options granted under the 1994 Incentive Plan, the 2004 Incentive Plan, the 2009 Incentive Plan and the 2014 Incentive Plan:

 
Options Granted
Under Incentive
Plans
 
Weighted
Average
Exercise Price
Outstanding at beginning of year
2,422,538
 
$
48.46

Granted
296,500
 
$
46.45

Exercised
(31,963)
 
$
35.39

Surrendered
(21,025)
 
$
58.19

Outstanding at end of period
2,666,050
 
$
48.32

 
 
 
 
Exercisable at end of period
1,935,719
 
$
46.09

Schedule of outstanding and exercisable options by exercise price
The following table summarizes information about the Company’s outstanding and exercisable options at February 27, 2016:

 
 
Options Outstanding
 
Options Exercisable
Range of Exercise
Prices
 
Number
 
Weighted
Average
Exercise
Price
 
Intrinsic Value
 
Weighted
Average
Remaining Life
in Years
 
Number
 
Weighted
Average
Exercise
Price
 
Intrinsic Value
 
Weighted
Average
Remaining Life
in Years
$25.31 - $28.13
 
32,000
 
$
25.49

 
$
726

 
2.92
 
32,000

 
$
25.49

 
$
726

 
2.92
$31.96 - $36.48
 
424,821
 
$
33.61

 
6,190

 
2.71
 
424,821

 
$
33.61

 
6,190

 
2.71
$42.86 - $46.80
 
1,037,476
 
$
44.73

 
3,581

 
7.01
 
669,204

 
$
43.91

 
2,857

 
5.73
$49.35 - $63.22
 
1,171,753
 
$
57.46

 

 
7.40
 
809,694

 
$
55.25

 

 
6.97
 
 
2,666,050
 
$
48.32

 
$
10,497

 
6.45
 
1,935,719

 
$
46.09

 
$
9,773

 
5.54
Schedule of Black-Scholes option pricing model on options granted
The fair value of each option grant is estimated on the date of grant using the Black-Scholes option pricing model with the following weighted average assumptions by grant year:
 
 
Three Months Ended
 
 
February 27,
2016
 
February 28,
2015
Weighted average fair value per option at the date of grant for options granted
 
$
7.23

 
$
10.26

Risk-free interest rate
 
1.46
%
 
1.31
%
Expected dividend yield
 
1.89
%
 
1.27
%
Expected volatility factor
 
20.40
%
 
19.50
%
Expected option term in years
 
5.0

 
5.0

Restricted Stock [Member]  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Schedule of share-based compensation costs
The following table summarizes information related to restricted stock unit awards during the three months ended February 27, 2016 and February 28, 2015:
 
 
Quarter Ended
 
 
February 27,
2016

February 28,
2015
Pre-tax compensation expense
 
$
951

 
$
835

Deferred tax benefits
 
(346
)
 
(304
)
Excess tax (shortfall) benefits associated with tax deductions over the amount of compensation expense recognized in the consolidated condensed financial statements
 
(109
)
 
208

Fair value of restricted stock unit awards on date of grant
 
2,954

 
3,180

Fair value of restricted stock unit awards vested
 
1,494

 
979

Schedule of restricted stock unit awards
The following table summarizes activity for the three months ended February 27, 2016 with respect to the restricted stock unit awards:
 
Units
 
Weighted
Average
Grant Date
Fair Value
Nonvested at beginning of year
71,592

 
$
60.09

Granted
63,605

 
$
46.45

Vested
(25,696)

 
$
58.14

Surrendered
(1,092
)
 
$
58.20

Nonvested at end of period
108,409

 
$
52.57

Restricted Stock Unit Awards with Performance Conditions [Member]  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Schedule of share-based compensation costs

The following table summarizes information related to restricted stock unit awards with performance conditions during the three months ended February 27, 2016 and February 28, 2015:
 
 
Quarter Ended
 
 
February 27,
2016

February 28,
2015
Pre-tax compensation expense
 
$

 
$
464

Deferred tax benefits
 

 
(169
)
Excess tax benefits associated with tax deductions over the amount of compensation expense recognized in the consolidated condensed financial statements
 

 

Fair value of restricted stock unit awards on date of grant
 

 
5,857

Fair value of restricted stock unit awards vested
 

 

Schedule of restricted stock unit awards
The following table summarizes activity for the three months ended February 27, 2016 with respect to the restricted stock unit awards with performance conditions:
 
Units
 
Weighted
Average
Grant Date
Fair Value
Nonvested at beginning of year
92,650

 
$
63.22

Granted

 
$

Vested

 
$

Surrendered
(2,671
)
 
$
63.22

Nonvested at end of period
89,979

 
$
63.22

Employee Stock Option [Member]  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Schedule of share-based compensation costs
The following table summarizes information related to stock options and stock option exercises during the three months ended February 27, 2016 and February 28, 2015:

 
 
Quarter Ended
 
 
February 27,
2016

February 28,
2015
Pre-tax compensation expense
 
$
1,415

 
$
1,848

Deferred tax benefits
 
(514
)
 
(672
)
Excess tax benefits associated with tax deductions over the amount of compensation expense recognized in the consolidated condensed financial statements
 
35

 
392

Fair value of stock options on date of grant
 
2,144

 
3,196

Total intrinsic value of stock options exercised
 
380

 
1,751

Cash received upon exercise of stock options
 
1,131

 
3,111

Addition to capital in excess of par value due to exercise of stock options
 
1,126

 
3,418

Director [Member] | Restricted Stock [Member]  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Schedule of share-based compensation costs
The following table summarizes information related to directors' stock compensation during the three months ended February 27, 2016 and February 28, 2015, respectively:

 
 
Quarter Ended
 
 
 
February 27,
2016
 
February 28,
2015
 
Pre-tax compensation expense
 
$
19

 
$

 
Shares of Company common stock issued under the plans