Share-Based Arrangements (Tables)

9 Months Ended

Sep. 30, 2016

Stock option activity was as follows:



	For the Three Months Ended				For the Nine Months Ended
	September 30, 2016				September 30, 2016
	Options		Weighted - average exercise price		Options		Weighted - average exercise price
Options outstanding at beginning of period	1,130,475			$35.41	1,040,036			$33.22
Granted	—		—		230,197			$42.86
Exercised	(59,634	)		$29.05	(185,512	)		$30.09
Forfeited or expired	(12,776	)		$40.38	(26,656	)		$39.18
Options outstanding at September 30, 2016	1,058,065			$35.71	1,058,065			$35.71

Fair Value Assumptions

The fair value of each option award is estimated on the date of grant using the Black-Scholes option valuation model. The following table indicates the weighted-average assumptions used in estimating fair value:



	For the Nine Months Ended
	September 30, 2016			October 2, 2015
Expected option term (years)	5.2			5.1
Expected volatility	26.0		%	29.0		%
Risk-free interest rate	1.2		%	1.6		%
Expected dividend yield	1.8		%	1.6		%
Per share fair value of options granted		$8.63			$9.28

Restricted Stock Award and Restricted Stock Unit Activity

Restricted Stock Award and Restricted Stock Unit activity was as follows:



	For the Three Months Ended				For the Nine Months Ended
	September 30, 2016				September 30, 2016
	Restricted Stock		Weighted- average grant date fair value		Restricted Stock		Weighted- average grant date fair value
Restricted Stock outstanding at beginning of period	178,331			$40.17	183,543			$37.80
Granted	—		—		81,019			$42.61
Vested	(1,449	)		$42.77	(84,007	)		$37.88
Forfeited or expired	(3,354	)		$39.85	(7,027	)		$39.77
Restricted Stock outstanding at September 30, 2016	173,528			$40.16	173,528			$40.16