v3.25.2
STOCK COMPENSATION PLANS (Tables)
 6 Months Ended
Jun. 29, 2025
Share-Based Payment Arrangement [Abstract]  
Schedule of Stock Compensation Costs
For the periods presented, compensation expense for all types of stock-based compensation programs and the related income tax benefit recognized were as follows:
Three Months EndedSix Months Ended
June 29, 2025June 30, 2024June 29, 2025June 30, 2024
Pre-tax compensation expense
$17,444 $11,514 $31,003 $17,500 
Related income tax benefit8,876 2,559 12,184 3,780 
Schedule of Activity Relating to the Grants of Stock Options
A summary of activity relating to grants of stock options for the period ended June 29, 2025 is as follows:
Stock OptionsSharesWeighted-Average
Exercise Price (per share)		Weighted-Average Remaining
Contractual Term		Aggregate Intrinsic Value
Outstanding at beginning of year579,834 $106.732.7 years
Granted5,165 $164.16
Exercised(74,945)$96.92
Outstanding as of June 29, 2025
510,054 $108.752.4 years$30,295 
Options exercisable as of June 29, 2025
499,430 $106.992.3 years$30,280 
Schedule of Fair Value Estimated on the Grant Date and the Weighted Average Assumptions The fair value was estimated on the date of grant using a Black-Scholes option-pricing model and the following weighted-average assumptions:
Six Months Ended
June 29, 2025June 30, 2024
Dividend yields
3.0 %2.0 %
Expected volatility22.3 %21.3 %
Risk-free interest rates
4.2 %4.3 %
Expected term in years6.36.3
Schedule of Activity Relating to Grants of PSUs and RSUs
A summary of activity relating to grants of PSUs and RSUs for the period ended June 29, 2025 is as follows:
Performance Stock Units and Restricted Stock Units
Number of unitsWeighted-average grant date fair value for equity awards (per unit)
Outstanding at beginning of year
538,803 $204.65
Granted
533,212 $165.64
Performance assumption change (1)
56,446 $251.13
Vested
(293,894)$207.15
Forfeited
(63,032)$203.60
Outstanding as of June 29, 2025
771,534 $180.22
(1)Reflects the net number of PSUs above and below target levels based on the performance metrics.
Schedule of Information Pertaining to Fair Value of PSUs and RSUs Granted for Potential Future Distribution
The following table sets forth information about the fair value of the PSUs and RSUs granted for potential future distribution to employees and non-employee directors. In addition, the table provides assumptions used to determine the fair value of the market-based total shareholder return component using the Monte Carlo simulation model on the date of grant.
Six Months Ended
June 29, 2025June 30, 2024
Units granted
533,212323,396
Weighted-average fair value at date of grant
$165.64$196.04
Monte Carlo simulation assumptions:
Estimated values$65.27$84.13
Dividend yields3.3 %2.8 %
Expected volatility21.7 %18.5 %