Share-Based Arrangements (Tables)
 9 Months Ended
Sep. 30, 2016
Share-based Compensation [Abstract]  
Stock Option Activity
Stock option activity was as follows:
 
 
For the Three Months Ended
 
For the Nine Months Ended
 
 
September 30, 2016
 
September 30, 2016
 
 
Options
 
Weighted - average
exercise price
 
Options
 
Weighted - average
exercise price
Options outstanding at beginning of period
 
1,130,475

 

$35.41

 
1,040,036

 

$33.22

Granted
 
—

 
—

 
230,197

 

$42.86

Exercised
 
(59,634
)
 

$29.05

 
(185,512
)
 

$30.09

Forfeited or expired
 
(12,776
)
 

$40.38

 
(26,656
)
 

$39.18

Options outstanding at September 30, 2016
 
1,058,065

 

$35.71

 
1,058,065

 

$35.71
Fair Value Assumptions
The fair value of each option award is estimated on the date of grant using the Black-Scholes option valuation model. The following table indicates the weighted-average assumptions used in estimating fair value:
 
 
For the Nine Months Ended
 
 
September 30,
2016
 
October 2,
2015
Expected option term (years)
 
5.2

 
5.1

Expected volatility
 
26.0
%
 
29.0
%
Risk-free interest rate
 
1.2
%
 
1.6
%
Expected dividend yield
 
1.8
%
 
1.6
%
Per share fair value of options granted
 

$8.63

 

$9.28
Restricted Stock Award and Restricted Stock Unit Activity
Restricted Stock Award and Restricted Stock Unit activity was as follows:
 
 
For the Three Months Ended
 
For the Nine Months Ended
 
 
September 30, 2016
 
September 30, 2016
 
 
Restricted  Stock
 
Weighted-
average grant
date fair value
 
Restricted  Stock
 
Weighted-
average grant
date fair value
Restricted Stock outstanding at beginning of period
 
178,331

 

$40.17

 
183,543

 

$37.80

Granted
 
—

 
—

 
81,019

 

$42.61

Vested
 
(1,449
)
 

$42.77

 
(84,007
)
 

$37.88

Forfeited or expired
 
(3,354
)
 

$39.85

 
(7,027
)
 

$39.77

Restricted Stock outstanding at September 30, 2016
 
173,528

 

$40.16

 
173,528

 

$40.16