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Summary of Significant Accounting Policies (Tables)

9 Months Ended

Oct. 01, 2016

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 1, 2016	Adjusted Basis Cost				Gross Unrealized Gains				Gross Unrealized (Losses)				Estimated Fair Value				Cash and Cash Equivalents
Cash	$	62,488			$	—			$	—			$	62,488			$	62,488
Level 1:
Bank Time Deposits	62,500				—				—				62,500				62,500
Money Market Funds	1,000				—				—				1,000				1,000
Subtotal	63,500				—				—				63,500				63,500
Level 2:
None	—				—				—				—				—
Level 3:
None	—				—				—				—				—
Total assets measured at fair value	$	125,988			$	—			$	—			$	125,988			$	125,988

January 2, 2016	Adjusted Basis Cost				Gross Unrealized Gains				Gross Unrealized (Losses)				Estimated Fair Value				Cash and Cash Equivalents
Cash	$	57,168			$	—			$	—			$	57,168			$	57,168
Level 1:
Bank Time Deposits	55,000				—				—				55,000				55,000
Money Market Funds	20,149				—				—				20,149				20,149
Subtotal	75,149				—				—				75,149				75,149
Level 2:
None	—				—				—				—				—
Level 3:
None	—				—				—				—				—
Total assets measured at fair value	$	132,317			$	—			$	—			$	132,317			$	132,317

January 2, 2016	Adjusted Basis Cost				Gross Unrealized Gains				Gross Unrealized (Losses)				Estimated Fair Value				Cash and Cash Equivalents
Cash	$	57,168			$	—			$	—			$	57,168			$	57,168
Level 1:
Bank Time Deposits	55,000				—				—				55,000				55,000
Money Market Funds	20,149				—				—				20,149				20,149
Subtotal	75,149				—				—				75,149				75,149
Level 2:
None	—				—				—				—				—
Level 3:
None	—				—				—				—				—
Total assets measured at fair value	$	132,317			$	—			$	—			$	132,317			$	132,317

Changes in Product Warranty Accrual

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

	Nine Months Ended
	October 1, 2016				October 3, 2015
Warranty accrual, beginning of period	$	1,222			$	1,416
Accrual for warranties issued	722				679
Changes to pre-existing warranties (including changes in estimates)	99				(52		)
Settlements made	(751		)		(828		)
Warranty accrual, end of period	$	1,292			$	1,215

Schedule of Change in Accumulated Other Comprehensive Income

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

	Nine Months Ended   October 1, 2016
Accumulated other comprehensive loss, beginning of period	$	(4,739	)
Foreign currency translation adjustments	(280		)
Accumulated other comprehensive loss, end of period	$	(5,019	)

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 1, 2016				October 3, 2015				October 1, 2016				October 3, 2015
Net income attributable to Masimo Corporation stockholders:
Net income including noncontrolling interest	$	27,773			$	17,929			$	85,373			$	56,447
Net loss attributable to the noncontrolling interest	—				1,396				—				2,752
Net income attributable to Masimo Corporation stockholders	$	27,773			$	19,325			$	85,373			$	59,199
Basic net income per share attributable to Masimo Corporation stockholders:
Net income attributable to Masimo Corporation stockholders	$	27,773			$	19,325			$	85,373			$	59,199
Weighted-average shares outstanding - basic	49,477				50,974				49,386				51,653
Basic net income per share attributable to Masimo Corporation stockholders	$	0.56			$	0.38			$	1.73			$	1.15
Diluted net income per share attributable to Masimo Corporation stockholders:
Weighted-average shares outstanding - basic	49,477				50,974				49,386				51,653
Diluted share equivalent: stock options and RSUs	4,088				2,712				3,451				2,293
Weighted-average shares outstanding - diluted	53,565				53,686				52,837				53,946
Diluted net income per share attributable to Masimo Corporation stockholders	$	0.52			$	0.36			$	1.62			$	1.10

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

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

	Nine Months Ended
	October 1, 2016				October 3, 2015
Cash paid during the year for:
Interest (net of amounts capitalized)	$	2,603			$	1,548
Income taxes	25,753				29,854
Noncash investing and financing activities:
Unpaid purchases of property, plant and equipment	$	1,232			$	7,093
Unsettled common stock proceeds from option exercises	476				—

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