Stock-Based Compensation (Tables)

3 Months Ended

Mar. 29, 2015

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

Disclosure of Share-based Compensation Arrangements by Share-based Payment Award

The following table provides the weighted-average assumptions used to determine the fair value of NSO awards granted during the three months ended March 29, 2015 (all were granted prior to the Company’s announcement of its intention to pay regular quarterly cash dividends on Common Stock):

	Three Months Ended  March 29, 2015
Risk-free interest rate	1.72	%
Expected dividend yield	0.00	%
Expected stock price volatility	44.75	%
Expected life (in years)	6.25

Non-Qualified Stock Options, Activity

A summary of activity and weighted average exercise prices related to the NSOs is reflected in the table below. For NSOs granted prior to the Ex-dividend Date, the weighted-average exercise prices reflect the historical values without giving effect to the Special Cash Dividend. As noted above, as of the Ex-dividend Date, an adjustment was made to convert the number of outstanding options and the exercise prices to preserve the fair value of the awards.

	Three Months Ended  March 29, 2015
	Shares		Weighted Avg.  Exercise Price
Outstanding, beginning of period	974,518		$	70.90
Granted	405,927		58.09
Exercised	(320	)	59.58
Forfeited	(8,982	)	56.42
Adjustments due to the Special Cash Dividend	145,219		*
Outstanding, end of period (1)	1,516,362		$	60.77
Vested and exercisable, end of period (1)	305,565		$	61.64

* Not meaningful

(1) The weighted average exercise price of options outstanding as of March 29, 2015 reflects the adjustment for the Special Cash Dividend.

Restricted Stock Units Activity

A summary of activity and weighted average fair values related to the RSUs is reflected in the table below. For RSUs granted prior to the Ex-dividend Date, the weighted-average fair values reflect the historical values without giving effect to the Special Cash Dividend. As noted above, as of the Ex-dividend Date, an adjustment was made to increase the number of outstanding RSUs to preserve the fair value of the awards.

	Three Months Ended  March 29, 2015
	Shares		Weighted Avg. Fair Value
Outstanding, beginning of period	633,182		$	68.76
Granted	387,403		58.12
Vested	(164,601	)	67.33
Forfeited	(11,999	)	65.03
Adjustments due to the Special Cash Dividend	88,836		*
Outstanding and nonvested, end of period (1)(2)	932,821		$	58.05

* Not meaningful

(1) Includes 16,133 RSUs which were granted to foreign employees and which the Company expects to settle in cash. These RSUs generally vest over a fouryear period. The fair value of these RSUs at March 29, 2015 is $1 million.

(2) The weighted average fair value of outstanding RSUs as of March 29, 2015 reflects the adjustment for the Special Cash Dividend.

Restricted Stock Award And Unrestricted Stock Award Activity

A summary of activity and weighted average fair values related to the restricted and unrestricted stock awards is as follows:

	Three Months Ended  March 29, 2015
	Shares		Weighted Avg. Fair Value
Outstanding, beginning of period	16,670		$	56.80
Granted	10,643		60.70
Vested and issued (1)	(10,643	)	60.70
Vested	(8,335	)	56.80
Outstanding and nonvested, end of period	8,335		$	56.80

(1) Represents shares of unrestricted stock.

Performance-based Units Activity

A summary of activity and weighted average fair values related to the PSUs is reflected in the table below. For PSUs granted prior to the Ex-dividend Date, the weighted-average fair values reflect the historical values without giving effect to the Special Cash Dividend. As noted above, as of the Ex-dividend Date, an adjustment was made to increase the number of outstanding PSUs to preserve the fair value of the awards.

	Three Months Ended  March 29, 2015
	Shares	Weighted Avg. Fair Value
Outstanding, beginning of period	43,219	$	74.35
Granted (1)	65,982	68.10
Adjustment due to the Special Cash Dividend (1)	11,575	*
Outstanding and nonvested, end of period (1)(2)	120,776	$	63.81

* Not meaningful

(1) Represents shares of PSUs for which performance targets have been established and which are deemed granted under U.S. GAAP. An additional adjustment of 5,907 PSUs which have not yet been deemed granted under U.S. GAAP is not reflected in the table above.

(2) The weighted average fair value of outstanding PSUs as of March 29, 2015 reflects the adjustment for the Special Cash Dividend.

Unrecognized Compensation Cost, Nonvested Awards

As of March 29, 2015, the Company had not yet recognized compensation cost on nonvested awards as follows (in thousands):

	Unrecognized Compensation Cost		Weighted Average Remaining Recognition Period
Nonvested awards	$	93,229	2.8