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Share-Based Compensation | 3 Months Ended
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Apr. 04, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] |
Share-Based Compensation | Share-Based Compensation The number and weighted-average exercise price of options issued and outstanding under all of the Company’s stock option plans are as follows (in thousands, except for exercise prices):
| Three Months Ended April 4, 2015
| Shares |  | Average Exercise Price
Options outstanding, beginning of period | 9,956 |  |  | $ | 23.59 |
Granted | 282 |  |  | $ | 30.41 |
Canceled | (52 | ) |  | $ | 22.46 |
Exercised | (273 | ) |  | $ | 18.31 |
Options outstanding, end of period | 9,913 |  |  | $ | 23.93 |
Options exercisable, end of period | 6,114 |  |  | $ | 24.07 |
Options available for grant, end of period | 5,528 |  |  |
The Black-Scholes option pricing model is used to estimate the fair value of options granted under the Company’s share-based compensation plans. The range of assumptions used and the resulting weighted-average fair value of options granted at the date of grant were as follows:
| Three Months Ended
| April 4, 2015 |  | March 29, 2014
Risk-free interest rate | 1.3% to 1.8% |  | 1.5% to 1.6%
Expected term (in years) | 5.5 |  | 5.1
Estimated volatility | 33.5% to 37.4% |  | 32.5% to 32.8%
Expected dividends | 0% |  | 0%
Weighted-average fair value of options granted | $10.35 |  | $8.89
The total share-based compensation expense for the three months ended April 4, 2015 and March 29, 2014 was $2.9 million and $2.6 million, respectively. The aggregate intrinsic value of options is calculated as the positive difference, if any, between the market value of the Company’s common stock on the date of exercise or the respective period end, as appropriate, and the exercise price of the options. The aggregate intrinsic value of options outstanding, with an exercise price less than the closing price of the Company’s common stock, as of April 4, 2015 was $95.7 million. The aggregate intrinsic value of options exercisable, with an exercise price less than the closing price of the Company’s common stock, as of April 4, 2015 was $58.6 million. The aggregate intrinsic value of options exercised during the three months ended April 4, 2015 and March 29, 2014 was $3.3 million and $1.5 million, respectively. The unrecognized share-based compensation as of April 4, 2015 was $23.1 million related to unvested options granted after January 1, 2006. The weighted-average remaining contractual term of options outstanding, with an exercise price less than the closing price of the Company’s common stock, as of April 4, 2015 was 5.9 years. The weighted-average remaining contractual term of options exercisable, with an exercise price less than the closing price of the Company’s common stock, as of April 4, 2015 was 4.3 years.

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- Definition The entire disclosure for compensation-related costs for equity-based compensation, which may include disclosure of policies, compensation plan details, allocation of equity compensation, incentive distributions, equity-based arrangements to obtain goods and services, deferred compensation arrangements, employee stock ownership plan details and employee stock purchase plan details. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5047-113901 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 50 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6406099&loc=d3e25284-112666 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 40 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6418621&loc=d3e17540-113929 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5444-113901 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Staff Accounting Bulletin (SAB) -Number Topic 14 + Details
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