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Stock-Based Compensation (Tables)

9 Months Ended

Sep. 29, 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 nine months ended September 29, 2018 and September 30, 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								Nine Months Ended
		September 29, 2018				September 30, 2017				September 29, 2018				September 30, 2017
Cost of sales		$	488			$	726			$	1,696			$	2,251
Selling and administrative expenses			6,731				10,768				22,855				25,558
Research and development expenses			1,994				780				3,633				2,259
Total stock-based compensation		$	9,213			$	12,274			$	28,184			$	30,068

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 nine months ended September 29, 2018 and September 30, 2017 are as follows:

		Nine Months Ended
Options Issued and Significant Assumptions Used to Estimate Option Fair Values		September 29, 2018				September 30, 2017
Options issued in thousands			147				217
Risk-free interest rate			2.7	%			2.2	%
Expected life in years			6				6
Expected volatility			23.2	%			23.0	%
Expected dividends			—				—
		Nine Months Ended
Weighted-Average Exercise Price and Fair Value of Options on the Date of Grant		September 29, 2018				September 30, 2017
Exercise price		$	205.37			$	151.24
Fair value		$	57.99			$	40.49

Stock Options Outstanding Roll Forward

The following table summarizes stock option activity for the plans for the nine months ended September 29, 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			147			$	188.26				to			$	208.47			$	205.37
Exercised			(357	)		$	38.09				to			$	154.33			$	102.44
Canceled			(137	)		$	98.21				to			$	154.33			$	126.13
Outstanding at September 29, 2018			1,692			$	38.09				to			$	208.47			$	135.94

Restricted Stock Units Unvested Roll Forward

The following table summarizes the unvested restricted stock unit award activity for the nine months ended September 29, 2018 (in thousands, except per share data):

		Shares				Weighted-Average Fair Value per Share
Unvested at December 31, 2017			374			$	124.81
Granted			91			$	207.85
Vested			(123	)		$	117.68
Forfeited			(18	)		$	126.43
Unvested at September 29, 2018			324			$	150.75

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 nine months ended September 29, 2018 and September 30, 2017 are as follows:

		Nine Months Ended
Performance Stock Units Issued and Significant Assumptions Used to Estimate Fair Values		September 29, 2018				September 30, 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			23.4	%			23.2	%
Average volatility of peer companies			25.8	%			26.1	%
Correlation coefficient			37.2	%			38.5	%
Expected dividends			—				—

Performance Stock Units Unvested Roll Forward

The following table summarizes the unvested performance stock unit award activity for the nine months ended September 29, 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 September 29, 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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Tabular disclosure of the significant assumptions used during the year to estimate the fair value of stock options, including, but not limited to: (a) expected term of share options and similar instruments, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions.

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