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Stock-Based Compensation (Tables)

6 Months Ended

Jun. 30, 2018

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Schedule of Stock-Based Compensation Expense

The consolidated statements of operations for the three and six months ended June 30, 2018 and July 1, 2017 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
		June 30, 2018				July 1, 2017				June 30, 2018				July 1, 2017
Cost of sales		$	603			$	787			$	1,208			$	1,525
Selling and administrative expenses			7,639				7,602				16,123				14,790
Research and development expenses			837				750				1,640				1,479
Total stock-based compensation		$	9,079			$	9,139			$	18,971			$	17,794

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 June 30, 2018 and July 1, 2017 are as follows:

		Six Months Ended
Options Issued and Significant Assumptions Used to Estimate Option Fair Values		June 30, 2018				July 1, 2017
Options issued in thousands			140				207
Risk-free interest rate			2.7	%			2.2	%
Expected life in years			6				6
Expected volatility			0.232				0.232
Expected dividends			—				—
		Six Months Ended
Weighted-Average Exercise Price and Fair Value of Options on the Date of Grant		June 30, 2018				July 1, 2017
Exercise price		$	205.97			$	149.74
Fair value		$	58.26			$	40.39

Stock Options Outstanding Roll Forward

The following table summarizes stock option activity for the plans for the six months ended June 30, 2018 (in thousands, except per share data):

		Number of Shares				Exercise Price per Share				Weighted-Average Exercise Price per Share
Outstanding at December 31, 2017			2,039			$	38.09 to $194.26			$	124.41
Granted			140			$	192.62 to $208.47			$	205.97
Exercised			(305	)		$	38.09 to $154.33			$	101.09
Canceled			(137	)		$	98.21 to $154.33			$	126.04
Outstanding at June 30, 2018			1,737			$	38.09 to $208.47			$	134.95

Restricted Stock Units Unvested Roll Forward

The following table summarizes the unvested restricted stock unit award activity for the six months ended June 30, 2018 (in thousands, except per share data):

		Shares				Weighted-Average Fair Value per Share
Unvested at December 31, 2017			374			$	124.81
Granted			88			$	208.26
Vested			(116	)		$	117.35
Forfeited			(12	)		$	118.07
Unvested at June 30, 2018			334			$	149.63

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 the six months ended June 30, 2018 and July 1, 2017 are as follows:

		Six Months Ended
Performance Stock Units Issued and Significant Assumptions Used to Estimate Fair Values		June 30, 2018				July 1, 2017
Performance stock units issued (in thousands)			16				20
Risk-free interest rate			2.0	%			1.5	%
Expected life in years			2.8				3.0
Expected volatility			0.234				0.232
Average volatility of peer companies			0.258				0.261
Correlation coefficient			0.372				0.385
Expected dividends			—				—

Performance Stock Units Unvested Roll Forward

The following table summarizes the unvested performance stock unit award activity for the six months ended June 30, 2018 (in thousands, except per share data):

		Shares				Weighted-Average Fair Value per Share
Unvested at December 31, 2017			64			$	196.29
Granted			16			$	253.44
Forfeited			(5	)		$	188.45
Unvested at June 30, 2018			75			$	209.00

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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 changes in outstanding nonvested restricted stock units.

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Tabular disclosure for stock option plans. Includes, but is not limited to, outstanding awards at beginning and end of year, grants, exercises, forfeitures, and weighted-average grant date fair value.

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