Share-Based Payment Arrangements (Tables)

12 Months Ended

Dec. 27, 2014

Amounts Recognized in Financial Statements with Respect to Plans

Amounts recognized in the financial statements with respect to these Plans are as follows (in thousands):

	Fiscal Years
	2014			2013			2012
Total cost of the Plans during the period	$	6,797		$	4,911		$	6,149
Amount of related income tax benefit recognized during the period		(3,171	)		(1,305	)		(2,398	)
Net cost of the Plans during the period	$	3,626		$	3,606		$	3,751

Weighted Average Assumptions for Option Grants

The fair value of each option grant on its grant date was calculated using the Black-Scholes option pricing model with the following weighted average assumptions for grants made in 2014, 2013 and 2012:

	2014			2013			2012
Expected volatility		26.0	%		32.0	%		34.0	%
Expected dividend yield		0.43	%		0.41	%		0.42	%
Risk-free interest rate		1.50	%		0.75	%		0.90	%
Expected lives (in years)		4.0			4.0			4.0

Summary of Information Regarding Stock Options

The following table summarizes information regarding the Company’s outstanding stock options under the Plans:

	Options Outstanding					Options Exercisable
	Number of Options			Weighted Average Exercise Price per Share		Number of Options		Weighted Average Exercise Price per Share
Options at December 31, 2011		2,326,776		$	40.11		1,110,743	$	39.74
Granted		329,500		$	52.03
Exercised		(846,294	)	$	39.47
Forfeited		(28,800	)	$	43.23
Options at December 29, 2012		1,781,182		$	42.56		661,865	$	40.64
Granted		152,500		$	56.40
Exercised		(421,066	)	$	40.52
Forfeited		(57,800	)	$	43.90
Options at December 28, 2013		1,454,816		$	44.55		693,516	$	42.29
Granted		1,000		$	58.06
Exercised		(615,077	)	$	41.27
Forfeited		(66,900	)	$	47.51
Options at December 27, 2014		773,839		$	46.92		379,389	$	44.61

Summary of Stock Options Outstanding and Exercisable

The following tables summarize stock options outstanding and exercisable at December 27, 2014:

	Options Outstanding
Range of Exercise Prices Per Share	Number Outstanding		Weighted Average Remaining  Contractual Term (years)		Weighted Average Exercise Price per Share
$35.64 - $ 40.00		110,312		4.7	$	37.13
$40.01 - $ 45.00		275,921		4.4	$	42.29
$45.01 - $ 58.06		387,606		7.1	$	53.00
		773,839		5.8	$	46.92

	Options Exercisable
Range of Exercise Prices Per Share	Number Exercisable		Weighted Average Remaining  Contractual Term (years)		Weighted Average Exercise Price per Share
$35.64 - $ 40.00		67,362		4.4	$	36.85
$40.01 - $ 45.00		184,121		3.6	$	42.56
$45.01 - $ 56.40		127,906		6.2	$	51.64
		379,389		4.6	$	44.61

Non-vested Restricted Stock

Schedule of Information on Non-Vested Restricted Stock

The following table summarizes information regarding the Company’s outstanding non-vested restricted stock under the Plans:

	Number of Shares			Weighted Average Grant Date Fair Value
Outstanding at December 31, 2011		40,993		$	42.03
Granted		4,151		$	54.20
Vested		(8,732	)	$	44.35
Forfeited		(1,693	)	$	45.21
Outstanding at December 29, 2012		34,719		$	42.75
Granted		15,449		$	54.85
Vested		(11,975	)	$	45.61
Outstanding at December 28, 2013		38,193		$	46.75
Granted		7,124		$	63.17
Vested		(19,196	)	$	41.85
Forfeited		(2,768	)	$	54.20
Outstanding at December 27, 2014		23,353		$	54.90

Restricted Stock Units (RSUs)

Schedule of Information on Restricted Stock Units

The following table summarizes information regarding the Company’s outstanding RSU awards under the Plans:

	Number of Units			Weighted Average Grant Date Fair Value
Outstanding at December 31, 2011		—		$	—
Granted		113,000		$	44.78
Outstanding at December 29, 2012		113,000		$	44.78
Granted		244,500		$	51.19
Vested		(21,901	)	$	44.78
Forfeited		(27,592	)	$	47.45
Outstanding at December 28, 2013		308,007		$	49.63
Granted		146,000		$	53.11
Vested		(24,641	)	$	51.47
Forfeited		(3,736	)	$	49.53
Outstanding at December 27, 2014		425,630		$	50.72