v2.4.0.8

Summary of Significant Accounting Policies (Tables)

6 Months Ended

Jun. 29, 2013

Accounting Policies [Abstract]

Fair Value Hierarchy for Financial Assets

The following tables represent the Company’s fair value hierarchy for its financial assets (in thousands):

		Fair Value Measurement as of June 29, 2013 using:
		Level 1				Level 2				Level 3				Total
Assets:
U.S. Treasuries		$	34,999			$	—			$	—			$	34,999
Money Market funds			1,798				—				—				1,798
Total		$	36,797			$	—			$	—			$	36,797
		Fair Value Measurement as of December 29, 2012  using:
		Level 1				Level 2				Level 3				Total
Assets:
U.S. Treasuries		$	31,999			$	—			$	—			$	31,999
Money Market funds			1,623				—				—				1,623
Total		$	33,622			$	—			$	—			$	33,622

Changes in Product Warranty Accrual

Changes in the product warranty accrual were as follows (in thousands):

		Six Months Ended
		June 29, 2013				June 30, 2012
Warranty accrual, beginning of period		$	838			$	698
Provision for warranty costs			1,280				1,222
Warranty expenditures			(1,205	)			(1,221	)
Warranty accrual, end of period		$	913			$	699

Schedule of Change in Accumulated Other Comprehensive Income

The change in accumulated other comprehensive income is as follows (in thousands):

		Six Months Ended June 29, 2013
Accumulated other comprehensive income, beginning of period		$	3,542
Foreign currency translation adjustments			(659	)
Accumulated other comprehensive income, end of period		$	2,883

Reconciliation of Basic and Diluted Net Income Per Share

A reconciliation of basic and diluted net income per share attributable to Masimo Corporation stockholders is as follows (in thousands, except per share amounts):

		Three Months Ended								Six Months Ended
		June 29, 2013				June 30, 2012				June 29, 2013				June 30, 2012
Net income attributable to stockholders of Masimo Corporation:
Net income including noncontrolling interest		$	14,648			$	17,768			$	31,050			$	33,534
Net (income) loss attributable to the noncontrolling interest			2,390				(71	)			2,416				(63	)
Net income attributable to Masimo Corporation stockholders		$	17,038			$	17,697			$	33,466			$	33,471
Basic net income per share attributable to Masimo Corporation stockholders:
Net income attributable to Masimo Corporation stockholders		$	17,038			$	17,697			$	33,466			$	33,471
Weighted average shares outstanding—basic			56,440				57,141				56,840				57,660
Basic net income per share attributable to Masimo Corporation stockholders		$	0.30			$	0.31			$	0.59			$	0.58
Diluted net income per share attributable to Masimo Corporation stockholders:
Weighted average shares outstanding—basic			56,440				57,141				56,840				57,660
Diluted share equivalent: stock options			764				943				767				952
Weighted average shares outstanding – diluted			57,204				58,084				57,607				58,612
Diluted net income per share attributable to Masimo Corporation stockholders		$	0.30			$	0.30			$	0.58			$	0.57

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Tabular disclosure of financial instruments measured at fair value, including those classified in shareholders' equity measured on a recurring or nonrecurring basis. Disclosures include, but are not limited to, fair value measurements recorded and the reasons for the measurements, level within the fair value hierarchy in which the fair value measurements are categorized and transfers between levels 1 and 2. Nonrecurring fair value measurements are those that are required or permitted in the statement of financial position in particular circumstances.

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Tabular disclosure of the components of accumulated other comprehensive income (loss).

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Tabular disclosure of an entity's basic and diluted earnings per share calculations, including a reconciliation of numerators and denominators of the basic and diluted per-share computations for income from continuing operations.

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Tabular disclosure of the changes in the guarantor's aggregate product warranty liability, including the beginning balance of the aggregate product warranty liability, the aggregate reductions in that liability for payments made (in cash or in kind) under the warranty, the aggregate changes in the liability for accruals related to product warranties issued during the reporting period, the aggregate changes in the liability for accruals related to preexisting warranties (including adjustments related to changes in estimates), and the ending balance of the aggregate product warranty liability.

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