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Share-Based Awards (Tables)
 6 Months Ended
Jul. 01, 2022
Share-based Payment Arrangement, Additional Disclosure [Abstract]  
Options Activity and Outstanding
Options on common shares granted and outstanding, as well as the weighted average exercise price, are shown below (in thousands, except exercise prices):
Option
Shares		Weighted Average
Exercise Price		Options
Exercisable		Weighted Average
Exercise Price
Outstanding, December 31, 20219,575 $39.31 7,296 $33.75 
Granted831 71.73 
Exercised(228)24.62 
Canceled(24)43.75 
Outstanding, July 1, 202210,154 $42.29 7,809 $36.06 
Options Fair Value Inputs
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 and results:
 Six Months Ended
 July 1,
2022		June 25,
2021
Expected life in years
7.37.5
Interest rate
1.9 %1.2 %
Volatility
25.5 %25.3 %
Dividend yield
1.2 %1.0 %
Weighted average fair value per share
$19.06 $18.91 
ESPP Fair Value Inputs The benefit of the 15 percent discount from the lesser of the fair market value per common share on the first day and the last day of the plan year was added to the fair value of the employees’ purchase rights determined using the Black-Scholes option-pricing model with the following assumptions and results:
 Six Months Ended
 July 1,
2022		June 25,
2021
Expected life in years
1.01.0
Interest rate
0.9 %0.1 %
Volatility
20.5 %40.1 %
Dividend yield
1.2 %1.1 %
Weighted average fair value per share
$16.01 $21.50