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Summary of Significant Accounting Policies (Tables)

9 Months Ended

Oct. 03, 2015

Accounting Policies [Abstract]

Fair Value Hierarchy for Financial Assets

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

October 3, 2015	Adjusted Basis Cost				Gross Unrealized Gains				Gross Unrealized (Losses)				Estimated Fair Value				Cash and Cash Equivalents
Cash	$	84,871			$	—			$	—			$	84,871			$	84,871
Level 1:
Bank Time Deposits	17,500				—				—				17,500				17,500
U.S. Treasuries	—				—				—				—				—
Money Market Funds	1,210				—				—				1,210				1,210
Subtotal	18,710				—				—				18,710				18,710
Level 2:
None	—				—				—				—				—
Level 3:
None	—				—				—				—				—
Total assets measured at fair value	$	103,581			$	—			$	—			$	103,581			$	103,581

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

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):

	Nine Months Ended
	October 3, 2015				September 27, 2014
Warranty accrual, beginning of period	$	1,416			$	1,161
Accrual for warranties issued	679				684
Changes to pre-existing warranties (including changes in estimates)	(52		)		25
Settlements made	(828		)		(812		)
Warranty accrual, end of period	$	1,215			$	1,058

Schedule of Change in Accumulated Other Comprehensive Income

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

	Nine Months Ended   October 3, 2015
Accumulated other comprehensive loss, beginning of period	$	(2,093	)
Foreign currency translation adjustments	(2,246		)
Accumulated other comprehensive loss, end of period	$	(4,339	)

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								Nine Months Ended
	October 3, 2015				September 27, 2014				October 3, 2015				September 27, 2014
Net income attributable to Masimo Corporation stockholders:
Net income including noncontrolling interest	$	17,929			$	16,134			$	56,447			$	52,577
Net loss (income) attributable to the noncontrolling interest	1,396				(1,271		)		2,752				(1,280		)
Net income attributable to Masimo Corporation stockholders	$	19,325			$	14,863			$	59,199			$	51,297
Basic net income per share attributable to Masimo Corporation stockholders:
Net income attributable to Masimo Corporation stockholders	$	19,325			$	14,863			$	59,199			$	51,297
Weighted-average shares outstanding - basic	50,974				53,988				51,653				55,521
Basic net income per share attributable to Masimo Corporation stockholders	$	0.38			$	0.28			$	1.15			$	0.92
Diluted net income per share attributable to Masimo Corporation stockholders:
Weighted-average shares outstanding - basic	50,974				53,988				51,653				55,521
Diluted share equivalent: stock options	2,712				630				2,293				860
Weighted-average shares outstanding - diluted	53,686				54,618				53,946				56,381
Diluted net income per share attributable to Masimo Corporation stockholders	$	0.36			$	0.27			$	1.10			$	0.91

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

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

	Nine Months Ended
	October 3, 2015				September 27, 2014
Cash paid during the year for:
Interest (net of amounts capitalized)	$	1,548			$	222
Income taxes	29,854				15,110
Noncash investing and financing activities:
Assets acquired under capital leases	$	36			$	—
Unpaid purchases of property, plant and equipment	7,093				3,330
Unsettled common stock proceeds	—				3,196

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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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