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Stock-Based Compensation (Tables) | 6 Months Ended
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Jun. 27, 2020
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] |
Schedule of Stock-Based Compensation Expense |
|  | Three Months Ended |  |  | Six Months Ended |
|  | June 27, 2020 |  |  | June 29, 2019 |  |  | June 27, 2020 |  |  | June 29, 2019 |
Cost of sales |  | $ | 635 |  |  | $ | 567 |  |  | $ | 1,205 |  |  | $ | 1,142 |
Selling and administrative expenses |  |  | 7,352 |  |  |  | 7,402 |  |  |  | 14,725 |  |  |  | 15,527 |
Research and development expenses |  |  | 939 |  |  |  | 1,345 |  |  |  | 2,192 |  |  |  | 2,586 |
Total stock-based compensation |  | $ | 8,926 |  |  | $ | 9,314 |  |  | $ | 18,122 |  |  | $ | 19,255 |
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 27, 2020 and June 29, 2019 are as follows:
|  | Six Months Ended |
Options Issued and Significant Assumptions Used to Estimate Option Fair Values |  | June 27, 2020 |  |  | June 29, 2019 |
Options issued in thousands |  |  | 227 |  |  |  | 139 |
Risk-free interest rate |  |  | 1.4 | % |  |  | 2.5 | %
Expected life in years |  |  | 6 |  |  |  | 5 |
Expected volatility |  |  | 26.5 | % |  |  | 24.3 | %
Expected dividends |  |  | — |  |  |  | — |
Stock Options Outstanding Roll Forward |
|  | Six Months Ended |
Weighted-Average Exercise Price and Fair Value of Options on the Date of Grant |  | June 27, 2020 |  |  | June 29, 2019 |
Exercise price |  | $ | 216.08 |  |  | $ | 231.30 |
Fair value |  | $ | 61.70 |  |  | $ | 61.85 |
Stock Options Outstanding by Exercise Price Range | The following table summarizes stock option activity for the plans for the six months ended June 27, 2020 (in thousands, except per share data):
|  | Number of Shares |  |  | Exercise Price per Share |  |  | Weighted-Average Exercise Price per Share |
Outstanding at December 31, 2019 |  |  | 1,455 |  |  | $ | 61.63 |  |  | to |  | $ | 238.52 |  |  | $ | 158.61 |
Granted |  |  | 227 |  |  | $ | 203.37 |  |  | to |  | $ | 235.06 |  |  | $ | 216.08 |
Exercised |  |  | (87 | ) |  | $ | 61.63 |  |  | to |  | $ | 208.47 |  |  | $ | 125.50 |
Canceled |  |  | (148 | ) |  | $ | 128.93 |  |  | to |  | $ | 238.52 |  |  | $ | 172.91 |
Outstanding at June 27, 2020 |  |  | 1,447 |  |  | $ | 75.94 |  |  | to |  | $ | 238.52 |  |  | $ | 168.15 |
Restricted Stock Units Unvested Roll Forward | The following table summarizes the unvested restricted stock unit award activity for the six months ended June 27, 2020 (in thousands, except per share data):
|  | Shares |  |  | Weighted-Average Grant Date Fair Value per Share |
Unvested at December 31, 2019 |  |  | 260 |  |  | $ | 184.70 |
Granted |  |  | 105 |  |  | $ | 206.73 |
Vested |  |  | (86 | ) |  | $ | 161.84 |
Forfeited |  |  | (15 | ) |  | $ | 185.91 |
Unvested at June 27, 2020 |  |  | 264 |  |  | $ | 200.84 |
Restricted stock units are generally granted annually in February and vest in equal annual installments over a five-year period.
Relevant Data Used to Determine the Value of Performance Shares | The relevant data used to determine the value of the stock options granted during the six months ended June 27, 2020 and June 29, 2019 are as follows:
|  | Six Months Ended |
Options Issued and Significant Assumptions Used to Estimate Option Fair Values |  | June 27, 2020 |  |  | June 29, 2019 |
Options issued in thousands |  |  | 227 |  |  |  | 139 |
Risk-free interest rate |  |  | 1.4 | % |  |  | 2.5 | %
Expected life in years |  |  | 6 |  |  |  | 5 |
Expected volatility |  |  | 26.5 | % |  |  | 24.3 | %
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 27, 2020 (in thousands, except per share data):
|  | Shares |  |  | Weighted-Average Fair Value per Share |
Unvested at December 31, 2019 |  |  | 105 |  |  | $ | 233.11 |
Granted |  |  | 58 |  |  | $ | 190.45 |
Vested |  |  | (37 | ) |  | $ | 184.51 |
Forfeited |  |  | (24 | ) |  | $ | 233.31 |
Unvested at June 27, 2020 |  |  | 102 |  |  | $ | 226.44 |

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