Equity Compensation (Tables)

12 Months Ended

Dec. 31, 2017

Equity Compensation

Schedule of Information Pertaining to Option Activity

Information pertaining to option activity during 2017 is as follows (number of options and aggregate intrinsic value in thousands):

				Weighted
				Average
		Weighted		Remaining
	Number	Average		Contractual	Aggregate
	of	Exercise		Term	Intrinsic
	Options	Price		(In Years)	Value
Outstanding at December 25, 2016	1,316	$	46.58
Granted	315		78.59
Exercised	(147)		42.71
Cancelled	(32)		68.30
Outstanding at December 31, 2017	1,452	$	53.43	7.07	$	13,901
Exercisable at December 31, 2017	800	$	40.72	5.89	$	13,901

Summary of the Significant Assumptions Used in Estimating the Fair Value of Options Granted

The following is a summary of the significant assumptions used in estimating the fair value of options granted in 2017, 2016 and 2015:

	2017		2016		2015
Assumptions (weighted average):
Risk-free interest rate	2.0	%	1.3	%	1.6	%
Expected dividend yield	1.0	%	1.2	%	0.9	%
Expected volatility	26.7	%	27.4	%	28.5	%
Expected term (in years)	5.6		5.5		5.5

Schedule of Information Pertaining to Restricted Stock Activity

The fair value of both time-based restricted stock and performance-based restricted stock units is based on the market price of the Company’s shares on the grant date. Information pertaining to these awards during 2017 is as follows (shares in thousands):

		Weighted
		Average
		Grant-Date
	Shares	Fair Value
Total as of December 25, 2016	185		59.21
Granted	86		78.52
Incremental Performance Shares*	3		50.59
Forfeited	(7)		69.14
Vested	(86)		56.45
Total as of December 31, 2017	181	$	69.11

*Additional shares from the 2014 performance-based restricted stock unit grant due to exceeding the initial 100% target resulting in a 122% payout.