Equity-Based compensation (Tables)

9 Months Ended

Sep. 28, 2014

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

Summary of Equity-Based Compensation Expense

The following table summarizes the compensation expense included in Selling, general and administrative expenses in the Unaudited Condensed Consolidated Statements of Earnings related to equity-based compensation plans:

	Three Months Ended				Nine Months Ended
($ in thousands)	September 28, 2014		September 29, 2013		September 28, 2014		September 29, 2013
Service-Based RSUs		397		444		1,080		1,961
Performance-Based RSUs		146		117		419		690
Market-Based RSUs		117		99		340		490
Total	$	660	$	660	$	1,839	$	3,141
Income tax benefit	$	252	$	252	$	703	$	1,200

Summary of Equity-Based Compensation Expense related to Non-Vested RSUs

The following table summarizes the unrecognized compensation expense related to non-vested RSUs by type and the weighted average period in which the expense is to be recognized:

($ in thousands)	Unrecognized compensation expense at September 28, 2014		Weighted average period
Service-Based RSUs		1,439	1.2 years
Performance-Based RSUs		1,064	1.4 years
Market-Based RSUs		775	1.3 years
Total	$	3,278

Summary of Status of Equity-Based Compensation Plans

The following table summarizes the status of these plans as of September 28, 2014:

	2014 Plan		2009 Plan		2004 Plan		2001 Plan
Awards originally available		1,500,000		3,400,000		6,500,000		2,000,000
Stock options outstanding		—		—		5,200		—
Restricted stock units outstanding		6,500		425,156		101,223		—
Options exercisable		—		—		5,200		—
Awards available for grant		1,493,500		1,593,853		106,423		—

Summary of Status of Stock Options

A summary of the status of stock options as of September 28, 2014 and the nine month period then ended is presented below:

	Nine Months Ended
	September 28, 2014
	Options			Weighted- Average Exercise Price
Outstanding at beginning of year		123,000		$	12.78
Exercised		(115,100	)	$	12.84
Expired		(2,700	)	$	11.04
Forfeited		—		$	—
Outstanding at end of period		5,200		$	12.35
Exercisable at end of period		5,200		$	12.35

	Nine Months Ended
	September 28, 2014
Intrinsic values of share options exercised	$	831,000
Weighted average remaining contractual life		1.2 years
Aggregate intrinsic values of options outstanding and options exercisable	$	22,000

Summary of Service-Based Restricted Stock Units

A summary of the status of RSUs is presented below:

	Nine Months Ended
	September 28, 2014
	RSUs			Weighted- average Grant-Date Fair Value
Outstanding at beginning of year		630,288		$	10.36
Granted		90,115		$	19.05
Converted		(128,108	)	$	10.74
Forfeited		(59,416	)	$	11.99
Outstanding at end of period		532,879		$	11.55

Schedule of Performance-Based RSUs

Performance-Based RSUs include the following components:

Grant Date	Target Units		Vesting Year	Vesting Dependency	Units Awarded
February 8, 2012		45,850	2014	Sales growth		—
February 8, 2012		39,300	2014	Cash flow		69,600
February 11, 2013		77,700	2016	Sales growth		—
February 11, 2013		66,600	2016	Cash flow		—
February 14, 2014		25,085	2017	Sales growth		—
February 14, 2014		21,500	2017	Cash flow		—

Schedule of Market-Based RSUs

Market-Based RSUs include the following components:

Grant Date	Target Units		Vesting Year	Number of Peer Group Companies	Units Awarded
February 8, 2012		45,850	2014	28		63,800
February 11, 2013		77,700	2016	20		—
February 11, 2013		32,500	2016	20		—
February 14, 2014		25,085	2017	15		—