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Stock-Based Compensation (Tables)

6 Months Ended

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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