STOCK COMPENSATION PLANS (Tables)

6 Months Ended

Jul. 01, 2018

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

Schedule of Stock Compensation Costs

For the periods presented, compensation expense for all types of stock-based compensation programs and the related income tax benefit recognized were as follows:

	Three Months Ended				Six Months Ended
	July 1, 2018		July 2, 2017		July 1, 2018		July 2, 2017
Pre-tax compensation expense	$	13,088	$	12,435	$	23,546	$	24,557
Related income tax benefit	2,364		3,230		4,968		7,048

Schedule of Activity Relating to the Grants of Stock Options

A summary of activity relating to grants of stock options for the period ended July 1, 2018 is as follows:

Stock Options	Shares		Weighted-Average Exercise Price (per share)	Weighted-Average Remaining Contractual Term	Aggregate Intrinsic Value
Outstanding as of December 31, 2017	5,921,062		$89.06	5.8 years
Granted	924,445		$99.88
Exercised	(286,284	)	$56.55
Forfeited	(227,524	)	$101.33
Outstanding as of July 1, 2018	6,331,699		$91.66	5.8 years	$	48,161
Options exercisable as of July 1, 2018	4,275,052		$87.29	4.4 years	$	47,451

Schedule of Fair Value Estimated on the Grant Date and the Weighted Average Assumptions

The fair value was estimated on the date of grant using a Black-Scholes option-pricing model and the following weighted-average assumptions:

	Six Months Ended
	July 1, 2018		July 2, 2017
Dividend yields	2.3	%	2.4	%
Expected volatility	16.6	%	17.2	%
Risk-free interest rates	2.8	%	2.2	%
Expected term in years	6.6		6.8

Schedule of Activity Relating to Grants of PSUs and RSUs

A summary of activity relating to grants of PSUs and RSUs for the period ended July 1, 2018 is as follows:

Performance Stock Units and Restricted Stock Units	Number of units		Weighted-average grant date fair value for equity awards (per unit)
Outstanding as of December 31, 2017	923,364		$103.11
Granted	361,068		$97.92
Performance assumption change (1)	(148,330	)	$101.59
Vested	(200,863	)	$105.43
Forfeited	(87,238	)	$103.72
Outstanding as of July 1, 2018	848,001		$101.53

(1) Reflects the net number of PSUs above and below target levels based on the performance metrics.

Schedule of Information Pertaining to Fair Value of PSUs and RSUs Granted for Potential Future Distribution

The following table sets forth information about the fair value of the PSUs and RSUs granted for potential future distribution to employees and non-employee directors. In addition, the table provides assumptions used to determine the fair value of the market-based total shareholder return component using the Monte Carlo simulation model on the date of grant.

	Six Months Ended
	July 1, 2018			July 2, 2017
Units granted	361,068			418,369
Weighted-average fair value at date of grant	$	97.92		$	111.06
Monte Carlo simulation assumptions:
Estimated values	$	29.17		$	46.85
Dividend yields	2.6		%	2.3		%
Expected volatility	20.4		%	20.4		%