Share-based Arrangements (Tables)

6 Months Ended

Jun. 28, 2019

Stock option activity was as follows:



	For the Three Months Ended				For the Six Months Ended
	June 28, 2019				June 28, 2019
	Options		Weighted - average exercise price		Options		Weighted - average exercise price
Options outstanding at beginning of period	1,097,087		$	49.04	935,252		$	45.91
Granted	—		$	—	194,470		$	61.02
Exercised	(33,417	)	$	38.43	(63,139	)	$	33.38
Forfeited or expired	(15,040	)	$	57.30	(17,953	)	$	58.01
Options outstanding at June 28, 2019	1,048,630		$	49.26	1,048,630		$	49.26

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 Six Months Ended
	June 28, 2019			June 29, 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				For the Six Months Ended
	June 28, 2019				June 28, 2019
	Restricted Stock		Weighted- average grant date fair value		Restricted Stock		Weighted- average grant date fair value
Restricted Stock outstanding at beginning of period	142,001		$	54.25	143,697		$	49.97
Granted	19,029		$	60.48	63,804		$	60.86
Vested	(18,525	)	$	59.67	(64,262	)	$	50.93
Forfeited or expired	(4,625	)	$	57.61	(5,359	)	$	57.59
Restricted Stock outstanding at June 28, 2019	137,880		$	54.27	137,880		$	54.27