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Summary of Significant Accounting Policies (Tables)

6 Months Ended

Jul. 04, 2015

Accounting Policies [Abstract]

Fair Value Hierarchy for Financial Assets

January 3, 2015	Adjusted Basis Cost				Gross Unrealized Gains				Gross Unrealized (Losses)				Estimated Fair Value				Cash and Cash Equivalents
Cash	$	92,888			$	—			$	—			$	92,888			$	92,888
Level 1:
Bank Time Deposits	40,500				—				—				40,500				40,500
U.S. Treasuries	—				—				—				—				—
Money Market Funds	1,065				—				—				1,065				1,065
Subtotal	41,565				—				—				41,565				41,565
Level 2:
None	—				—				—				—				—
Level 3:
None	—				—				—				—				—
Total assets measured at fair value	$	134,453			$	—			$	—			$	134,453			$	134,453

The following tables represent the Company’s financial assets (in thousands), measured at fair value on a recurring basis:

July 4, 2015	Adjusted Basis Cost				Gross Unrealized Gains				Gross Unrealized (Losses)				Estimated Fair Value				Cash and Cash Equivalents
Cash	$	80,030			$	—			$	—			$	80,030			$	80,030
Level 1:
Bank Time Deposits	32,500				—				—				32,500				32,500
U.S. Treasuries	—				—				—				—				—
Money Market Funds	6,867				—				—				6,867				6,867
Subtotal	39,367				—				—				39,367				39,367
Level 2:
None	—				—				—				—				—
Level 3:
None	—				—				—				—				—
Total assets measured at fair value	$	119,397			$	—			$	—			$	119,397			$	119,397

January 3, 2015	Adjusted Basis Cost				Gross Unrealized Gains				Gross Unrealized (Losses)				Estimated Fair Value				Cash and Cash Equivalents
Cash	$	92,888			$	—			$	—			$	92,888			$	92,888
Level 1:
Bank Time Deposits	40,500				—				—				40,500				40,500
U.S. Treasuries	—				—				—				—				—
Money Market Funds	1,065				—				—				1,065				1,065
Subtotal	41,565				—				—				41,565				41,565
Level 2:
None	—				—				—				—				—
Level 3:
None	—				—				—				—				—
Total assets measured at fair value	$	134,453			$	—			$	—			$	134,453			$	134,453

Changes in Product Warranty Accrual

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

	Six Months Ended
	July 4, 2015				June 28, 2014
Warranty accrual, beginning of period	$	1,416			$	1,161
Accrual for warranties issued	585				489
Changes to pre-existing warranties (including changes in estimates)	(134		)		(91		)
Settlements made	(490		)		(446		)
Warranty accrual, end of period	$	1,377			$	1,113

Schedule of Change in Accumulated Other Comprehensive Income

The change in accumulated other comprehensive loss was as follows (in thousands):

	Six Months Ended   July 4, 2015
Accumulated other comprehensive loss, beginning of period	$	(2,093	)
Foreign currency translation adjustments	(2,358		)
Accumulated other comprehensive loss, end of period	$	(4,451	)

Reconciliation of Basic and Diluted Net Income Per Share

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
	July 4, 2015				June 28, 2014				July 4, 2015				June 28, 2014
Net income attributable to Masimo Corporation stockholders:
Net income including noncontrolling interest	$	18,696			$	13,952			$	38,518			$	36,443
Net loss (income) attributable to the noncontrolling interest	655				(150		)		1,356				(9		)
Net income attributable to Masimo Corporation stockholders	$	19,351			$	13,802			$	39,874			$	36,434
Basic net income per share attributable to Masimo Corporation stockholders:
Net income attributable to Masimo Corporation stockholders	$	19,351			$	13,802			$	39,874			$	36,434
Weighted-average shares outstanding - basic	51,300				55,876				51,993				56,290
Basic net income per share attributable to Masimo Corporation stockholders	$	0.38			$	0.25			$	0.77			$	0.65
Diluted net income per share attributable to Masimo Corporation stockholders:
Weighted-average shares outstanding - basic	51,300				55,876				51,993				56,290
Diluted share equivalent: stock options	2,375				942				1,915				1,113
Weighted-average shares outstanding - diluted	53,675				56,818				53,908				57,403
Diluted net income per share attributable to Masimo Corporation stockholders	$	0.36			$	0.24			$	0.74			$	0.63

Schedule of Cash Flow, Supplemental Disclosures [Table Text Block]

Supplemental cash flow information includes the following (in thousands):

	Six Months Ended
	July 4, 2015				June 28, 2014
Cash paid during the year for:
Interest (net of amounts capitalized)	$	952			$	117
Income taxes	23,523				10,298
Noncash investing and financing activities:
Assets acquired under capital leases	$	36			$	—
Unpaid purchases of property, plant and equipment	6,251				474
Unsettled common stock proceeds	25				—

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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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