Equity-Based Compensation (Tables)

9 Months Ended

Oct. 03, 2015

Weighted-Average Assumptions Used for Grants of Stock Options and SARs

The following table shows the weighted-average assumptions used for grants of SARs as well as the fair value of the grants based on those assumptions:

	Nine Months Ended
	October 3, 2015			September 27, 2014
Expected dividend yield		0	%		0	%
Forfeiture rate		10.24	%		10.32	%
Volatility		33.98	%		34.92	%
Risk free interest rate		1.53	%		1.73	%
Range of interest rates		0.02% - 2.14	%		0.02% - 2.61	%
Expected weighted-average life		5.32 years			5.36 years
Fair value of SARs granted	$	11,509,000		$	4,600,000
Weighted-average grant date fair value of SARs granted (per underlying share)	$	35.25		$	25.00

Summary of Stock Option Activity

Stock option activity was as follows:

	Nine Months Ended October 3, 2015
Options	Shares			Weighted-Average Exercise Price		Weighted-Average Remaining Contractual Term		Aggregate Intrinsic Value
Outstanding at beginning of year		415,960		$	40.19
Exercised		(185,770	)		43.32
Expired		(1,550	)		51.62
Outstanding at end of period		228,640			37.56		2.2 Years	$	13.0 million
Exercisable at end of period		228,640			37.56		2.2 Years	$	13.0 million
Intrinsic value of exercised options	$	9,020,000

Summary of SARs Activity

SAR activity was as follows:

	Nine Months Ended October 3, 2015
SARs	Shares			Weighted-Average Exercise Price		Weighted-Average Remaining Contractual Term		Aggregate Intrinsic Value
Outstanding at beginning of year		1,292,142		$	42.20
Granted		330,144			107.74
Exercised		(160,450	)		40.86
Forfeited		(25,694	)		71.72
Outstanding at end of period		1,436,142			56.89		7.0 years	$	58.5 million
Exercisable at end of period		756,193			36.00		5.6 years	$	44.3 million
Intrinsic value of exercised SARs	$	9,947,000

Summary of Restricted Stock Award Activity

Restricted stock award activity was as follows:

	Nine Months Ended October 3, 2015
Restricted Stock Awards	Shares			Weighted-Average Grant Date Fair Value
Outstanding at beginning of year		691,621		$	60.06
Granted		183,345			107.84
Released		(246,673	)		51.69
Forfeited		(41,136	)		72.98
Outstanding at end of period		587,157			77.63

Summary of Performance Share Award Activity

Performance share award activity was as follows:

	Nine Months Ended October 3, 2015
Performance Share Awards	Shares			Weighted-Average Grant Date Fair Value
Outstanding at beginning of year		374,180		$	61.33
Granted		109,848			75.97
Released		(120,000	)		38.67
Forfeited		(22,595	)		73.29
Outstanding at end of period		341,433			73.48

Summary of Restricted Stock Unit Activity

Restricted stock unit activity was as follows:

	Nine Months Ended October 3, 2015
Restricted Stock Units	Shares
Outstanding at beginning of year		41,964
Granted		11,623
Released		(8,653	)
Forfeited		(5,480	)
Outstanding at end of period		39,454

Weighted-Average Assumptions Used for Employee Purchase Rights Granted Under Stock Purchase Plan

The fair value of the purchase rights issued to the Company’s employees under the stock purchase plan is estimated using the following weighted-average assumptions for purchase rights granted. Expected lives of three months to one year have been used along with these assumptions.

	Nine Months Ended
	October 3, 2015			September 27, 2014
Fair market value	$	80.43		$	63.42
Option price	$	76.41		$	60.25
Expected dividend yield		0	%		0	%
Expected volatility		41	%		31	%
Risk free interest rate		0.03	%		0.06	%

Performance Stock Units [Member]

Summary of Performance Share Award Activity

Performance stock unit activity was as follows:

	Nine Months Ended October 3, 2015
Performance Stock Units	Shares
Outstanding at beginning of year		10,345
Forfeited		(1,272	)
Outstanding at end of period		9,073