SHAREHOLDERS' EQUITY (Tables)
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9 Months Ended |
Sep. 30, 2017 |
Stockholders' Equity Note [Abstract] |
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Schedule Of Share-Based Compensation Activity |
The table below presents share-based compensation activity for the nine months ended September 30, 2017 and October 1, 2016 (in millions): | | | | | | | | | | | | September 30, 2017 | | October 1, 2016 | Total intrinsic value of share-based incentive awards exercised | | $ | 3.7 |
| | $ | 1.1 |
| Cash received from stock option exercises | | 0.4 |
| | 0.5 |
| Income tax benefit (expense) from the exercise of stock options | | 0.7 |
| | (0.2 | ) | Total fair value of share-based incentive awards vested | | 4.3 |
| | 4.9 |
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Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions |
The assumptions used in the Company's Monte Carlo simulation related to grants for performance share units were as follows: | | | | | | | | September 30, 2017 | | October 1, 2016 | Risk-free interest rate | 1.6 | % | | 0.9 | % | Expected life (years) | 3.0 |
| | 3.0 |
| Expected volatility | 24.0 | % | | 23.0 | % | Expected dividend yield | 1.3 | % | | 1.7 | % |
The assumptions used in the Company's Black-Scholes valuation related to grants for options and SARs were as follows: | | | | | | | | | | 2017 | | 2016 | Per share weighted average fair value of grants | $ | 23.73 |
| | $ | 15.22 |
| Risk-free interest rate | 2.0 | % | | 1.4 | % | Expected life (years) | 7.0 |
| | 7.0 |
| Expected volatility | 27.9 | % | | 29.6 | % | Expected dividend yield | 1.2 | % | | 1.7 | % |
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Summary Of Share-Based Incentive Plan Grant Activity For Options and SAR's |
Following is a summary of share-based incentive plan grant activity (options and SARs) for the nine months ended September 30, 2017. | | | | | | | | | | | | | | Number of Shares Under Options and SARs | Shares | | Weighted Average Exercise Price | | Weighted Average Remaining Contractual Term (years) | | Aggregate Intrinsic Value (in millions) | Exercisable at December 31, 2016 | 1,610,499 |
| | $ | 63.16 |
| | | | | Granted | 195,207 |
| | 80.72 |
| | | | | Exercised | (160,771 | ) | | 53.18 |
| | | | | Forfeited | (10,239 | ) | | 65.13 |
| | | | | Expired | (9,485 | ) | | 64.21 |
| | | | | Outstanding at September 30, 2017 | 1,625,211 |
| | $ | 66.24 |
| | 5.9 | | $ | 20.9 |
| Exercisable at September 30, 2017 | 964,171 |
| | $ | 64.14 |
| | 4.1 | | $ | 14.3 |
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Summary Of RSA Award Activity |
Following is a summary of RSA award activity for the nine months ended September 30, 2017: | | | | | | | | | | | | | Shares | | Weighted Average Fair Value at Grant Date | | Weighted Average Remaining Contractual Term (years) | Unvested RSAs at December 31, 2016 | | 19,593 |
| | $ | 57.43 |
| | 0.4 | Granted | | 13,941 |
| | 80.70 |
| | | Vested | | (19,593 | ) | | 57.43 |
| | | Unvested RSAs at September 30, 2017 | | 13,941 |
| | $ | 80.70 |
| | 0.6 |
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Summary Of RSU Award Activity |
Following is a summary of RSU award activity for the nine months ended September 30, 2017: | | | | | | | | | | | | | | | | | Shares | | Weighted Average Fair Value at Grant Date | | Weighted Average Remaining Contractual Term (years) | Unvested RSUs at December 31, 2016 | | 277,863 |
| | $ | 69.23 |
| | 1.7 | Granted | | 75,905 |
| | 80.48 |
| | | Vested | | (81,265 | ) | | 74.98 |
| | | Forfeited | | (7,508 | ) | | 67.92 |
| | | Unvested RSUs at September 30, 2017 | | 264,995 |
| | $ | 70.72 |
| | 1.9 |
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Summary Of PSU Award Activity |
Following is a summary of PSU award activity for the nine months ended September 30, 2017: | | | | | | | | | | | | | | | | | Shares | | Weighted Average Fair Value at Grant Date | | Weighted Average Remaining Contractual Term (years) | Unvested PSUs at December 31, 2016 | | 133,340 |
| | $ | 65.28 |
| | 2.0 | Granted | | 48,666 |
| | 90.82 |
| | | Vested | | (110 | ) | | 83.74 |
| | | Forfeited | | (26,780 | ) | | 81.76 |
| | | Unvested PSUs at September 30, 2017 | | 155,116 |
| | $ | 70.43 |
| | 2.1 |
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