Common Stock and Share-Based Compensation (Tables)

12 Months Ended

Dec. 28, 2013

Summary of Stock Options under Equity Plan and Non-Employee Director Plan

Information related to stock options under the Equity Plan and the Non-Employee Director Plan is summarized as follows:

	Shares			Weighted- Average Exercise Price		Weighted- Average Remaining Contractual Term in Years		Aggregate Intrinsic Value (in  thousands)
Outstanding at December 29, 2012		1,718,116		$	46.44
Granted		50,789			137.76
Forfeited		—			—
Expired		—			—
Exercised		(89,070	)		28.66
Outstanding at December 28, 2013		1,679,835		$	50.14		4.81	$	322,453
Exercisable at December 28, 2013		544,276		$	42.33		4.06	$	108,730
Vested and expected to vest at December 28, 2013		1,579,082		$	50.14		4.78	$	303,114

Stock-Based Compensation Expense Included in Operating Expenses

The following table provides information regarding stock-based compensation expense included in operating expenses in the accompanying consolidated statements of income:

	2013		2012		2011 (53 weeks)
	(in thousands)
Amounts included in advertising, promotional and selling expenses	$	3,054	$	2,452	$	2,236
Amounts included in general and administrative expenses		4,264		4,076		3,942
Total stock-based compensation expense	$	7,318	$	6,528	$	6,178
Amounts related to performance-based stock options included in total stock-based compensation expense	$	1,401	$	645	$	973

Weighted Average Assumptions used to Estimate Fair Value of Stock Options

Weighted average assumptions used to estimate fair values of stock options on the date of grants are as follows:

	2013			2012			2011
Expected volatility		33.9	%		34.1	%		34.6	%
Risk-free interest rate		1.85	%		1.86	%		3.30	%
Expected dividends		0	%		0	%		0	%
Exercise factor		2.8 times			2.9 times			2.2 times
Discount for post-vesting restrictions		0.0	%		0.8	%		1.1	%

Summary of Estimated Future Annual Stock-Based Compensation Expense

The following table summarizes the estimated future annual stock-based compensation expense related to share-based arrangements existing as of December 28, 2013 that are expected to vest (in thousands):

2014	$	4,388
2015		3,481
2016		2,052
2017		1,215
2018		609
Thereafter		830
Total	$	12,575

Summary of Vesting Activities of Shares Issued Under Investment Share Program and Restricted Stock Awards

The following table summarizes vesting activities of shares issued under the investment share program and restricted stock awards:

	Number of Shares			Weighted Average Fair Value
Non-vested at December 29, 2012		114,832		$	51.67
Granted		24,881			96.10
Vested		(43,331	)		41.62
Forfeited		(5,753	)		72.70
Non-vested at December 28, 2013		90,629		$	67.34

Stock Repurchases

As of December 28, 2013, the Company has repurchased a cumulative total of approximately 10.9 million shares of its Class A Common Stock for an aggregate purchase price of approximately $299.5 million as follows:

	Number of Shares		Aggregate Purchase Price
			(in thousands)
Repurchased at December 25, 2010		9,771,503	$	189,072
2011 repurchases		760,036		62,824
Repurchased at December 31, 2011		10,531,539		251,896
2012 repurchases		165,192		18,047
Repurchased at December 29, 2012		10,696,731		269,943
2013 repurchases		195,728		29,585
Repurchased at December 28, 2013		10,892,459	$	299,528