Common Stock and Share-Based Compensation (Tables)

12 Months Ended

Dec. 30, 2017

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 31, 2016		1,348,233		$	141.98
Granted		15,373			150.10
Forfeited		(12,208	)		160.47
Expired		—			—
Exercised		(194,401	)		79.78
Outstanding at December 30, 2017		1,156,997		$	158.53		6.28	$	45,877
Exercisable at December 30, 2017		182,242		$	98.78		3.58	$	17,554
Vested and expected to vest at December 30, 2017		562,478		$	115.47		4.49	$	44,461

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 comprehensive income:

	2017		2016		2015
	(in thousands)
Amounts included in advertising, promotional and selling expenses	$	2,868	$	2,507	$	2,943
Amounts included in general and administrative expenses		3,448		3,641		3,722
Total stock-based compensation expense	$	6,316	$	6,148	$	6,665
Amounts related to performance-based stock awards included in total stock-based compensation expense	$	36	$	203	$	831

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:

	2017		2016		2015
Expected volatility		36.2%		34.0%		34.2%
Risk-free interest rate		2.30%		2.16%		2.16%
Expected dividends		0%		0%		0%
Exercise factor		3.63 times		2.68 times		3.0 times
Discount for post-vesting restrictions		0.0%		0.0%		0.0%

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 30, 2017 that are expected to vest (in thousands):

2018	$	5,519
2019		4,360
2020		3,107
2021		2,618
2022		1,992
Thereafter		1,388
Total	$	18,984

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 31, 2016		64,968		$	166.29
Granted		25,946			132.88
Vested		(22,213	)		151.32
Forfeited		(6,296	)		178.56
Non-vested at December 30, 2017		62,405		$	155.21

Stock Repurchases

As of December 30, 2017, the Company has repurchased a cumulative total of approximately 13.4 million shares of its Class A Common Stock for an aggregate purchase price of approximately $752.4 million as follows:

	Number of Shares		Aggregate Purchase Price
			(in thousands)
Repurchased at December 27, 2014		10,921,933	$	307,387
2015 repurchases		616,747		138,705
Repurchased at December 26, 2015		11,538,680		446,092
2016 repurchases		944,876		161,658
Repurchased at December 31, 2016		12,483,556		607,750
2017 repurchases		963,790		144,602
Repurchased at December 30, 2017		13,447,346	$	752,352