v3.24.1.1.u2
Share-Based Compensation (Tables)
12 Months Ended
Dec. 30, 2023
Share-Based Payment Arrangement [Abstract]  
Schedule Of Share-based Payment Award Valuation Assumptions
For market-based RSUs, the fair value of each award was determined using a Monte Carlo simulation model. The model uses multiple input variables that determined the probability of satisfying the market condition requirements as follows:
202320222021
Risk-free interest rate(1)
4.6 %1.6 %0.3 %
Expected dividend yield— %— %— %
Expected stock price volatility(2)
37.4 %34.6 %36.0 %
(1)The risk-free interest rate is based on the U.S. Treasury constant maturity interest rate having a term consistent with the vesting period of the award.
(2)Expected volatility is determined based on historical volatility over a matching look-back period and is consistent with the correlation coefficients between our stock prices and our peer group.
Restricted Stock Units Activity
The following table summarizes activity for time-based, performance-based and market-based RSUs in 2023:
Time-BasedPerformance-BasedMarket-Based
Number of AwardsWeighted Average
Grant Date Fair Value
Number of AwardsWeighted Average
Grant Date Fair Value
Number of AwardsWeighted Average
Grant Date Fair Value
Nonvested at December 31, 2022394 $180.41 105 $130.88 135 $191.72 
Granted627 $89.81 22 $135.13 73 $139.75 
 Change in units based on performance
— $— (15)$137.11 — $— 
Vested (1)
(195)$169.61 (112)$130.88 (30)$145.04 
Forfeited(126)$139.70 — $130.03 (55)$173.13 
Nonvested at December 30, 2023700 $109.56 — $— 123 $180.63 
(1) The vested shares of market-based RSUs were not exercised due to low multiplier effect for 2020 awards.
Restricted Stock Units Activity Additional Information
Year Ended
December 30, 2023December 31, 2022January 1, 2022
Time-based:
Weighted average fair value of RSUs granted$89.81 $196.61 $183.41 
Total grant date fair value of RSUs vested$33,125 $34,685 $34,555 
Performance-based:
Weighted average fair value of RSUs granted$135.13 $— $— 
Total grant date fair value of RSUs vested$14,711 $12,460 $7,987 
Market-based:
Weighted average fair value of RSUs granted$139.75 $205.52 $204.97 
Total grant date fair value of RSUs vested$4,400 $3,695 $3,650