The weighted-average grant date fair values and corresponding weighted-average assumptions used in the Black-Scholes option valuation model were as follows:

 

		Service SARs Granted												Performance-based SARs Granted
		2016				2015				2014				2016				2015				2014
Weighted-average grant date fair value		$	15.74			$	18.24			$	14.62			$	15.94			$	18.73			$	15.75
Weighted-average assumptions:
Expected life (in years)			4.8				4.7				4.7				5.0				5.0				5.0
Expected volatility			36.4	%			31.8	%			31.8	%			36.3	%			31.8	%			33.1	%
Risk-free interest rate			1.1	%			1.2	%			1.5	%			1.1	%			1.3	%			1.6	%
Expected dividend			2.5	%			1.6	%			1.2	%			2.5	%			1.6	%			1.2	%

The weighted-average grant date fair value of SARs subject to market conditions was estimated using a Monte Carlo simulation model. The weighted-average grant date fair values and corresponding weighted-average assumptions used in the model were as follows:

 

		Performance-based SARs Granted
		2016				2015				2014
Weighted-average grant date fair value		$	20.56			$	21.41			$	22.63
Weighted-average assumptions:
Expected life (in years)			4.8				4.8				4.8
Expected volatility			36.5	%			30.1	%			33.0	%
Risk-free interest rate			1.5	%			1.6	%			2.2	%
Expected dividend			2.6	%			1.8	%			1.0	%

Liability award activity during the year ended November 27, 2016 was as follows:

 

		PRSUs
		Units				Weighted- Average Exercise Price				Weighted- Average Fair Value At Period End
Outstanding at November 29, 2015			626			$	57.92			$	68.00
Granted			334				61.94
Vested			(245	)			38.40
Performance adjustment of PRSU			(6	)			111.34
Forfeited			(70	)			67.58
Outstanding at November 27, 2016			639			$	65.92			$	67.00
Expected to vest at November 27, 2016			560			$	66.09			$	67.00
Exercisable at November 27, 2016			—			$	—			$	—