Share-based Arrangements (Tables)

3 Months Ended

Mar. 29, 2019

Stock option activity was as follows:



	For the Three Months Ended
	March 29, 2019
	Options		Weighted - average exercise price
Options outstanding at beginning of period	935,252		$	45.91
Granted	194,470		$	61.02
Exercised	(29,722	)	$	27.70
Forfeited or expired	(2,913	)	$	61.68
Options outstanding at March 29, 2019	1,097,087		$	49.04

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 Three Months Ended
	March 29, 2019			March 30, 2018
Expected option term (years)	4.9			4.9
Expected volatility	19.4		%	18.1		%
Risk-free interest rate	2.5		%	2.6		%
Expected dividend yield	1.3		%	1.5		%
Per share fair value of options granted		$11.18			$10.65

Restricted Stock Award and Restricted Stock Unit Activity

Restricted stock award and restricted stock unit activity was as follows:



	For the Three Months Ended
	March 29, 2019
	Restricted Stock		Weighted- average grant date fair value
Restricted Stock outstanding at beginning of period	143,697		$	49.97
Granted	44,775		$	61.02
Vested	(45,737	)	$	47.40
Forfeited or expired	(734	)	$	57.46
Restricted Stock outstanding at March 29, 2019	142,001		$	54.25