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Stock-Based Compensation (Tables) | 9 Months Ended
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Sep. 28, 2019
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 28, 2019 and September 29, 2018 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 28, 2019 |  |  | September 29, 2018 |  |  | September 28, 2019 |  |  | September 29, 2018 |
Cost of sales |  | $ | 531 |  |  | $ | 488 |  |  | $ | 1,673 |  |  | $ | 1,696 |
Selling and administrative expenses |  |  | 7,766 |  |  |  | 6,731 |  |  |  | 23,293 |  |  |  | 22,855 |
Research and development expenses |  |  | 1,365 |  |  |  | 1,994 |  |  |  | 3,951 |  |  |  | 3,633 |
Total stock-based compensation |  | $ | 9,662 |  |  | $ | 9,213 |  |  | $ | 28,917 |  |  | $ | 28,184 |
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 28, 2019 and September 29, 2018 are as follows:
|  | Nine Months Ended |
Options Issued and Significant Assumptions Used to Estimate Option Fair Values |  | September 28, 2019 |  |  | September 29, 2018 |
Options issued in thousands |  |  | 139 |  |  |  | 147 |
Risk-free interest rate |  |  | 2.5 | % |  |  | 2.7 | %
Expected life in years |  |  | 5 |  |  |  | 6 |
Expected volatility |  |  | 24.3 | % |  |  | 23.2 | %
Expected dividends |  |  | — |  |  |  | — |
|  | Nine Months Ended |
Weighted-Average Exercise Price and Fair Value of Options on the Date of Grant |  | September 28, 2019 |  |  | September 29, 2018 |
Exercise price |  | $ | 231.30 |  |  | $ | 205.37 |
Fair value |  | $ | 61.85 |  |  | $ | 57.99 |
Stock Options Outstanding Roll Forward | The following table summarizes stock option activity for the plans for the nine months ended September 28, 2019 (in thousands, except per share data):
|  | Number of Shares |  | Exercise Price per Share |  |  | Weighted-Average Exercise Price per Share |
Outstanding at December 31, 2018 |  |  | 1,790 |  |  | $ | 38.09 |  |  | to |  |  | $ | 208.47 |  |  |  | $ | 142.47 |
Granted |  |  | 139 |  |  | $ | 183.41 |  |  | to |  |  | $ | 238.52 |  |  |  | $ | 231.30 |
Exercised |  |  | (256 | ) |  | $ | 38.09 |  |  | to |  |  | $ | 208.47 |  |  |  | $ | 111.11 |
Canceled |  |  | (74 | ) |  | $ | 113.36 |  |  | to |  |  | $ | 238.52 |  |  |  | $ | 159.17 |
Outstanding at September 28, 2019 |  |  | 1,599 |  |  | $ | 38.09 |  |  | to |  |  | $ | 238.52 |  |  |  | $ | 154.44 |
Restricted Stock Units Unvested Roll Forward | The following table summarizes the unvested restricted stock unit award activity for the nine months ended September 28, 2019 (in thousands, except per share data):
|  | Shares |  |  | Weighted-Average Fair Value per Share |
Unvested at December 31, 2018 |  |  | 304 |  |  | $ | 153.31 |
Granted |  |  | 84 |  |  | $ | 235.95 |
Vested |  |  | (104 | ) |  | $ | 138.95 |
Forfeited |  |  | (23 | ) |  | $ | 168.73 |
Unvested at September 28, 2019 |  |  | 261 |  |  | $ | 184.27 |
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 28, 2019 and September 29, 2018 are as follows:
|  | Nine Months Ended |
Performance Stock Units Issued and Significant Assumptions Used to Estimate Fair Values |  | September 28, 2019 |  |  | September 29, 2018 |
Performance stock units issued (in thousands) |  |  | 13 |  |  |  | 16 |
Risk-free interest rate |  |  | 2.4 | % |  |  | 2.0 | %
Expected life in years |  |  | 2.8 |  |  |  | 2.8 |
Expected volatility |  |  | 23.5 | % |  |  | 23.4 | %
Average volatility of peer companies |  |  | 26.2 | % |  |  | 25.8 | %
Correlation coefficient |  |  | 34.2 | % |  |  | 37.2 | %
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 28, 2019 (in thousands, except per share data):
|  | Shares |  |  | Weighted-Average Fair Value per Share |
Unvested at December 31, 2018 |  |  | 100 |  |  | $ | 212.34 |
Granted |  |  | 13 |  |  | $ | 372.68 |
Forfeited |  |  | (7 | ) |  | $ | 196.87 |
Unvested at September 28, 2019 |  |  | 106 |  |  | $ | 233.03 |

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- Definition 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. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (f)(2) -URI http://asc.fasb.org/extlink&oid=116856206&loc=d3e5070-113901 + Details
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