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Stock-Based Compensation (Tables)

6 Months Ended

Jul. 01, 2017

Stock-Based Compensation [Abstract]

Schedule of Stock-Based Compensation Expense

The consolidated statements of operations for the three and six months ended July 1, 2017 and July 2, 2016 include the following stock-based compensation expense related to stock option awards, restricted stock awards, restricted stock unit awards, performance stock unit awards and the employee stock purchase plan (in thousands):

			Three Months Ended						Six Months Ended
			July 1, 2017			July 2, 2016			July 1, 2017			July 2, 2016
Cost of sales			$	787		$	656		$	1,525		$	1,327
Selling and administrative expenses				7,602			6,613			14,790			20,582
Research and development expenses				750			1,127			1,479			2,328
	Total stock-based compensation		$	9,139		$	8,396		$	17,794		$	24,237

Relevant Data Used to Determine the Value of Stock Options Granted During the Period

The relevant data used to determine the value of the stock options granted during the six months ended July 1, 2017 and July 2, 2016 are as follows:

		Six Months Ended
Options Issued and Significant Assumptions Used to Estimate Option Fair Values		July 1, 2017		July 2, 2016
Options issued (in thousands)		207		86
Risk-free interest rate		2.2%		1.5%
Expected life in years		6		5
Expected volatility		0.232		0.286
Expected dividends		-		-

		Six Months Ended
Weighted-Average Exercise Price and Fair Value of Options on the Date of Grant		July 1, 2017			July 2, 2016
Exercise price		$	149.74		$	122.65
Fair value		$	40.39		$	34.63

Stock Options Outstanding Roll Forward

The following table summarizes stock option activity for the plans for the six months ended July 1, 2017 (in thousands, except per share data):

				Number of Shares		Price per Share						Weighted-Average Exercise Price
Outstanding at December 31, 2016				2,697		$	38.09	to	$	139.51		$	106.55
	Granted			207		$	136.43	to	$	154.33		$	149.74
	Exercised			(619)		$	41.20	to	$	134.37		$	88.36
	Canceled			(44)		$	87.06	to	$	136.43		$	114.38
Outstanding at July 1, 2017				2,241		$	38.09	to	$	154.33		$	115.41

Restricted Stock Units Unvested Roll Forward

The following table summarizes the unvested restricted stock unit award activity for the six months ended July 1, 2017 (in thousands, except for per share data):

			Shares		Weighted-Average Price
Unvested at December 31, 2016			453		$	110.34
	Granted		106		$	154.23
	Vested		(131)		$	105.18
	Forfeited		(15)		$	115.34
Unvested at July 1, 2017			413		$	123.06

Relevant Data Used to Determine the Value of Performance Shares

The relevant data used to determine the value of the performance stock units granted during 2017 is as follows:

Performance Stock Units Issued and Significant Assumptions Used to Estimate Fair Values		2017
Performance stock units issued in thousands		20
Risk-free interest rate		1.5%
Expected life in years		3
Expected volatility		0.232
Average volatility of peer companies		0.261
Correlation coefficient		0.385
Expected dividends		-

Performance Stock Units Unvested Roll Forward

The following table summarizes the unvested performance stock unit award activity for the three months ended July 1, 2017 (in thousands, except for per share data):

			Shares		Weighted-Average Fair Value
Unvested at December 31, 2016			27		$	171.16
	Granted		20		$	198.78
Unvested at July 1, 2017			47		$	184.40

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Tabular disclosure of the allocation of equity-based compensation costs to a given line item on the balance sheet and income statement for the period. This may include the reporting line for the costs and the amount capitalized and expensed.

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Tabular disclosure of the number and weighted-average exercise prices (or conversion ratios) for share options (or share units) that were outstanding at the beginning and end of the year, vested and expected to vest, exercisable or convertible at the end of the year, and the number of share options or share units that were granted, exercised or converted, forfeited, and expired during the year.

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