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Share Based Compensation (Tables)
 12 Months Ended
Dec. 30, 2023
Share-Based Payment Arrangement, Noncash Expense [Abstract]  
Key assumptions in fair value determination The ranges of key assumptions used in determining the fair value of options granted during fiscal 2023, 2022, and 2021, as well as a summary of the methodology applied to develop each assumption, are as follows:
 Fiscal Year
 202320222021
Expected price volatility
30.7% - 30.9%
29.9% - 31.3%
29.8% - 30.3%
Risk-free interest rate
3.5% - 4.5%
1.7% - 4.3%
0.3% - 1.0%
Weighted average expected lives (in years)4.24.14.3
Forfeiture rate6.9 %6.9 %7.0 %
Dividend yield1.7 %1.6 %1.5 %
Key assumptions used in the Monte Carlo simulation for the performance shares with a TSR modifier granted during fiscal 2023 and during fiscal 2022 are presented below:
Fiscal Year
Assumption20232022
Expected volatility32.13 %30.91 %
Risk-free interest rate3.70 %1.53 %
Compounded dividend yield1.69 %1.63 %
Summary of stock option activity A summary of stock option activity is as follows:
Stock Option ActivityOptions
Weighted
Average Exercise
Price
Weighted Average Fair Value
Weighted Average
Remaining
Contractual Term
Aggregate Intrinsic Value
(in thousands)
Outstanding at December 30, 20221,090,389 112.18 6.3$122,985 
Granted124,228 232.35 $60.19 
Exercised(185,904)87.67 
Canceled(13,836)166.07 
Outstanding at December 30, 20231,014,877 $130.65 5.9$88,596 
Exercisable at December 30, 2023738,256 $102.36 5.0$83,492 
Other information relative to option activity
Other information relative to options activity during fiscal 2023, 2022, and 2021 is as follows (in thousands):

Fiscal Year
 202320222021
Total fair value of stock options vested$7,070 $7,783 $8,478 
Total intrinsic value of stock options exercised$26,092 $25,024 $90,532 
Restricted stock units activity A summary of restricted stock unit activity is presented below:
Restricted Stock Unit ActivityRestricted Stock UnitsWeighted Average Grant Date Fair Value
Restricted at December 31, 2022449,082 $155.24 
Granted225,067 223.85 
Vested(230,142)140.98 
Forfeited(34,011)205.21 
Restricted at December 30, 2023409,996 $196.87 
Performance-based Share Unit Activity
A summary of performance-based restricted share unit activity is presented below:

Performance-Based Restricted Share Unit ActivityPerformance-Based Restricted Share UnitsWeighted Average Grant Date Fair Value
Restricted at December 31, 2022155,599 $155.02 
Granted (a)
53,879 237.42 
Performance Adjustment (b)
50,411 94.21 
Vested(100,822)94.21 
Forfeited(4,248)220.62 
Restricted at December 30, 2023154,819 $202.61 

(a) Assumes 100% target level achievement of the relative performance targets. The actual number of shares that will be issued, which may be higher or lower than the target, will be determined by the level of achievement of the relative performance targets, inclusive of the TSR modifier.
(b) Shares adjusted for performance-based restricted share unit awards settled during fiscal 2023 based on actual achievement of performance targets.
Other information relative to restricted unit activity
Other information relative to restricted stock unit activity during fiscal 2023, 2022, and 2021 is as follows (in thousands):
Fiscal Year
 202320222021
Total grant date fair value of restricted stock units vested and issued$32,446 $26,031 $25,222 
Total intrinsic value of restricted stock units vested and issued$53,112 $50,532 $47,136 
Other information relative to performance-based restricted share unit activity during fiscal 2023 is as follows (in thousands):

Fiscal Year
 202320222021
Total grant date fair value of performance-based restricted share units vested and issued$9,498 $14,104 $648 
Total intrinsic value of performance-based restricted share units vested and issued$23,155 $33,895 $1,538