XML 51 R34.htm IDEA: XBRL DOCUMENT v3.6.0.2
Shareholders' Equity (Tables)
12 Months Ended
Dec. 31, 2016
Stockholders' Equity Note [Abstract]  
Schedule of share-based compensation activity
The table below presents share-based compensation activity for the three fiscal years ended 2016, 2015 and 2014 (in millions):
 
 
2016
 
2015
 
2014
Total Intrinsic Value of Share-Based Incentive Awards Exercised
 
$
2.5

 
$
4.3

 
$
5.2

Cash Received from Stock Option Exercises
 
0.5

 
4.1

 
1.9

Income Tax Benefit from the Exercise of Stock Options
 

 
1.6

 
2.0

Total Fair Value of Share-Based Incentive Awards Vested
 
4.9

 
4.9

 
5.5

Assumptions used in Black-Scholes Valuation for Options and SAR's
The assumptions used in the Company's Black-Scholes valuation related to grants for options and SARs were as follows:
 
2016
 
2015
 
2014
Per Share Weighted Average Fair Value of Grants
$
15.22

 
$
27.15

 
$
28.01

Risk-Free Interest Rate
1.4
%
 
1.9
%
 
2.0
%
Expected Life (Years)
7.0

 
7.0

 
7.0

Expected Volatility
29.6
%
 
35.6
%
 
37.7
%
Expected Dividend Yield
1.7
%
 
1.2
%
 
1.2
%
Share-based Incentive Plan Grant Activity (Options and SAR's)
Following is a summary of share-based incentive plan activity (options and SARs) for fiscal 2016:
Number of Shares Under Options and SARs
Shares
 
Weighted Average Exercise Price
 
Weighted Average Remaining Contractual Term (years)
 
Aggregate Intrinsic Value (in millions)
Outstanding at January 2, 2016
1,548,266

 
$
63.09

 
 
 
 
Granted
293,400

 
57.43

 
 
 
 
Exercised
(137,475
)
 
45.60

 
 
 
 
Forfeited
(34,887
)
 
71.91

 
 
 
 
Expired
(58,805
)
 
68.56

 
 
 
 
Outstanding at December 31, 2016
1,610,499

 
$
63.16

 
5.8
 
$
12.9

Exercisable at December 31, 2016
952,766

 
$
60.77

 
4.0
 
9.2

RSA Award Activity
Following is a summary of RSA activity for fiscal 2016:
 
 
Shares
 
Weighted Average Fair Value at Grant Date
 
Weighted Average Remaining Contractual Term (years)
Unvested RSAs at January 2, 2016
 
14,400

 
$
78.15

 
0.4
Granted
 
19,593

 
57.43

 
 
Vested
 
(14,400
)
 
78.15

 
 
Unvested RSAs December 31, 2016
 
19,593

 
$
57.43

 
0.4
RSU Award Activity
Following is a summary of RSU activity for fiscal 2016:
 
 
 
 
Shares
 
Weighted Average Fair Value at Grant Date
 
Weighted Average Remaining Contractual Term (years)
Unvested RSUs at January 2, 2016
 
268,655

 
$
72.91

 
1.8
Granted
 
105,648

 
57.50

 
 
Vested
 
(81,085
)
 
65.23

 
 
Forfeited
 
(15,355
)
 
74.18

 
 
Unvested RSUs at December 31, 2016
 
277,863

 
$
69.23

 
1.7
PSU Award Activity
Following is a summary of PSU activity for fiscal 2016:
 
 
 
 
Shares
 
Weighted Average Fair Value at Grant Date
 
Weighted Average Remaining Contractual Term (years)
Unvested PSUs at January 2, 2016
 
87,895

 
$
75.81

 
1.9
Granted
 
83,605

 
51.84

 
 
Forfeited
 
(38,160
)
 
60.10

 
 
Unvested PSUs December 31, 2016
 
133,340

 
$
65.28

 
2.0