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Stock-Based Compensation | 9 Months Ended
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Oct. 01, 2022
Share-Based Payment Arrangement, Noncash Expense [Abstract] |
Stock-Based Compensation | Stock-Based CompensationThe Company recognizes compensation expense for all share-based payments granted based on the grant-date fair value estimated in accordance with the provisions of ASC 718-10. Compensation expense is recognized on a straight-line basis over the awards’ estimated lives for fixed awards with ratable vesting provisions.The Company granted no restricted stock units (“RSUs”) for the three months ended October 1, 2022. The Company granted 189 RSUs at a weighted average grant-date fair value of $137.99 per unit for the nine months ended October 1, 2022. The Company granted 21 RSUs at a weighted average grant-date fair value of $189.91 per unit for the three months ended October 2, 2021. The Company granted 194 RSUs at a weighted average grant-date fair value of $176.73 per unit for the nine months ended October 2, 2021. The Company recognized stock-based compensation costs related to the issuance of RSUs of $6,179 ($4,572 net of taxes) and $7,425 ($5,494 net of taxes) for the three months ended October 1, 2022 and October 2, 2021, respectively, which has been allocated to cost of sales and selling, general and administrative expenses. The Company recognized stock-based compensation costs related to the issuance of RSUs of $17,488 ($12,941 net of taxes) and $19,411 ($14,364 net of taxes) for the nine months ended October 1, 2022 and October 2, 2021, respectively, which has been allocated to cost of sales and selling, general and administrative expenses. Pre-tax unrecognized compensation expense for unvested RSUs granted to employees, net of estimated forfeitures, was $23,868 as of October 1, 2022, and will be recognized as expense over a weighted-average period of approximately 1.68 years.

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