Disclosure of Compensation Related Costs, Share-based Payments [Text Block] | Note 8: Overview We have various share-based compensation programs which provide for equity awards including non-qualified stock options, restricted stock shares, restricted stock units, performance awards and deferred compensation. These equity awards fall under several plans and are described in detail in our Annual Report on Form 10 December 3, 2016. Grant-Date Fair Value We use the Black-Scholes option pricing model to calculate the grant-date fair value of an award. The fair value of options granted during the quarter ended June 3, 2017 May 28, 2016 Three Months Ended Six Months Ended June 3, 2017 May 28, 2016 June 3, 2017 May 28, 2016 Expected life (in years) 4.75 4.75 4.75 4.75 Weighted-average expected volatility 24.32% 28.55% 24.85% 29.01% Expected volatility 24.31% - 24.33% 28.00% - 29.20% 24.31% - 24.88% 28.00% - 29.23% Risk-free interest rate 1.81% 1.25% 1.89% 1.43% Expected dividend yield 1.11% 1.27% 1.12% 1.55% Weighted-average fair value of grants $10.90 $9.81 $10.81 $7.72 Expected life – We use historical employee exercise and option expiration data to estimate the expected life assumption for the Black-Scholes grant-date valuation. We believe that this historical data is currently the best estimate of the expected term of a new option. We use a weighted-average expected life for all awards. Expected volatility – Volatility is calculated using our stock’s historical volatility for the same period of time as the expected life. We have no Risk-free interest rate – The rate is based on the U.S. Treasury yield curve in effect at the time of the grant for the same period of time as the expected life. Expected dividend yield – The calculation is based on the total expected annual dividend payout divided by the average stock price. Expense We use the straight-line attribution method to recognize share-based compensation expense for option awards, restricted stock shares and restricted stock units with graded and cliff vesting. Incentive stock options and performance awards are based on certain performance-based metrics and the expense is adjusted quarterly, based on our projections of the achievement of those metrics. The amount of share-based compensation expense recognized during a period is based on the value of the portion of the awards that are ultimately expected to vest. The expense is recognized over the requisite service period, which for us is the period between the grant date and the earlier of the award’s stated vesting term or the date the employee is eligible for early vesting based on the terms of the plans. Total share-based compensation expense of $3,811 $2,701 second June 3, 2017 May 28, 2016, $8,843 $6,968 six June 3, 2017 May 28, 2016, second June 3, 2017 May 28, 2016, $300 $933 six June 3, 2017 May 28, 2016, $1,353 $592 As of June 3, 2017, $10,198 1.4 $16,463, 1.5 Stock Option Activity The stock option activity for the six June 3, 2017 Average Options Exercise Price Outstanding at December 3, 2016 2,986,481 $ 34.92 Granted 717,596 50.04 Exercised (407,288 ) 34.19 Forfeited or cancelled (74,113 ) 36.84 Outstanding at June 3, 2017 3,222,676 $ 38.34 The total fair value of options granted during the quarter ended June 3, 2017 May 28, 2016 $373 $324, second June 3, 2017 May 28, 2016 $2,204 $7,265, six June 3, 2017 May 28, 2016 $7,757 $6,462, six June 3, 2017 May 28, 2016 $6,624 $7,276, Proceeds received from option exercises during the second June 3, 2017 May 28, 2016 $5,377 $7,051, $13,926 $7,083 six June 3, 2017 May 28, 2016. Restricted Stock Activity The nonvested restricted stock activity for the quarter ended June 3, 2017 Weighted- Weighted- Average Average Remaining Grant Contractual Date Fair Life Units Shares Total Value (in Years) Nonvested at December 3, 2016 352,744 36,953 389,697 $ 38.36 1.0 Granted 281,507 - 281,507 51.31 1.7 Vested (149,095 ) (36,953 ) (186,048 ) 39.79 - Forfeited (17,400 ) - (17,400 ) 37.86 1.5 Nonvested at June 3, 2017 467,756 - 467,756 $ 44.68 1.5 Total fair value of restricted stock vested during the second June 3, 2017 May 28, 2016 $432 $179, six June 3, 2017 May 28, 2016 $7,402 $6,012, June 3, 2017 $21,214. We repurchased 3,122 1,106 second June 3, 2017 May 28, 2016, 53,809 67,533 six June 3, 2017 May 28, 2016, Deferred Compensation Activity We have a Directors’ Deferred Compensation plan that allows non-employee directors to defer all or a portion of their directors’ compensation in a number of investment choices, including units representing shares of our common stock. We also have a Key Employee Deferred Compensation Plan that allows key employees to defer a portion of their eligible compensation in a number of investment choices, including units, representing shares of our common stock. We provide a 10 six June 3, 2017 Non-employee Directors Employees Total Units outstanding December 3, 2016 424,319 41,116 465,435 Participant contributions 8,373 4,582 12,955 Company match contributions 837 458 1,295 Payouts (14,143 ) (7,712 ) (21,855 ) Units outstanding June 3, 2017 419,386 38,444 457,830 Deferred compensation units are fully vested at the date of contribution. |