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Summary of Significant Accounting Policies (Tables) | 12 Months Ended
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Dec. 28, 2019
Accounting Policies [Abstract] |
Fair Value Measurements, Recurring and Nonrecurring | The following tables represent the Company’s financial assets (in thousands), measured at fair value on a recurring basis as of December 28, 2019:
|  |  |  |  |  |  |  |  | Reported as
| Adjusted Basis Cost |  | Gross Unrealized Gains |  | Gross Unrealized (Losses) |  | Estimated Fair Value |  | Cash and Cash Equivalents |  | Short-Term Investments
Cash | $ | 567,687 |  |  | $ | — |  |  | $ | — |  |  | $ | 567,687 |  |  | $ | 567,687 |  |  | $ | — |
Level 1: |  |  |  |  |  |  |  |  |  |  |
Certificates of deposit | 120,000 |  |  | — |  |  | — |  |  | 120,000 |  |  | — |  |  | 120,000 |
Subtotal | 120,000 |  |  | — |  |  | — |  |  | 120,000 |  |  | — |  |  | 120,000 |
Level 2: |  |  |  |  |  |  |  |  |  |  |
None | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Level 3: |  |  |  |  |  |  |  |  |  |  |
None | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Total assets measured at fair value | $ | 687,687 |  |  | $ | — |  |  | $ | — |  |  | $ | 687,687 |  |  | $ | 567,687 |  |  | $ | 120,000 |
Property, Plant and Equipment | Property and equipment are stated at cost. Depreciation is calculated using the straight-line method over estimated useful lives as follows:
| Useful Lives
Aircraft and components | 4 to 20 years
Buildings | 39 years
Building improvements | 7 to 15 years
Computer equipment | 2 to 6 years
Demonstration units | 3 years
Furniture and office equipment | 2 to 6 years
Leasehold improvements | Lesser of useful life or term of lease
Machinery and equipment | 5 to 10 years
Tooling | 3 years
Vehicles | 5 years
Property and equipment, net consists of the following (in thousands):
| December 28, 2019 |  | December 29, 2018
Building and building improvements | $ | 101,731 |  |  | $ | 88,449 |
Machinery and equipment | 58,864 |  |  | 54,525 |
Land | 40,216 |  |  | 23,762 |
Aircraft and vehicles | 29,934 |  |  | 25,555 |
Computer equipment | 19,650 |  |  | 16,582 |
Leasehold improvements | 15,921 |  |  | 16,428 |
Tooling | 15,346 |  |  | 14,212 |
Furniture and office equipment | 11,049 |  |  | 10,459 |
Demonstration units | 836 |  |  | 470 |
Construction-in-progress (CIP) | 39,107 |  |  | 13,320 |
Total property and equipment | 332,654 |  |  | 263,762 |
Accumulated depreciation | (113,102 | ) |  | (97,790 | )
Property and equipment, net | $ | 219,552 |  |  | $ | 165,972 |
Changes in Product Warranty Accrual | Changes in the product warranty accrual were as follows (in thousands):
| Year Ended
| December 28, 2019 |  | December 29, 2018 |  | December 30, 2017
Warranty accrual, beginning of period | $ | 1,910 |  |  | $ | 1,149 |  |  | $ | 910 |
Accrual for warranties issued | 1,715 |  |  | 1,549 |  |  | 1,061 |
Changes in pre-existing warranties (including changes in estimates)(1) | 1,130 |  |  | 551 |  |  | 332 |
Settlements made | (1,360 | ) |  | (1,339 | ) |  | (1,154 | )
Warranty accrual, end of period | $ | 3,395 |  |  | $ | 1,910 |  |  | $ | 1,149 |
Reconciliation of Basic Diluted Net Income Per Share | The computation of basic and diluted net income per share is as follows (in thousands, except per share data):
| Year Ended
| December 28, 2019 |  | December 29, 2018 |  | December 30, 2017
Net income | $ | 196,216 |  |  | $ | 193,543 |  |  | $ | 124,789 |
Basic net income per share: |  |  |  |  |
Weighted-average shares outstanding - basic | 53,434 |  |  | 52,296 |  |  | 51,516 |
Net income per basic share | $ | 3.67 |  |  | $ | 3.70 |  |  | $ | 2.42 |
Diluted net income per share: |  |  |  |  |
Weighted-average shares outstanding - basic | 53,434 |  |  | 52,296 |  |  | 51,516 |
Diluted share equivalents: stock options and RSUs | 3,666 |  |  | 3,743 |  |  | 4,358 |
Weighted-average shares outstanding - diluted | 57,100 |  |  | 56,039 |  |  | 55,874 |
Net income per diluted share | $ | 3.44 |  |  | $ | 3.45 |  |  | $ | 2.23 |

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- Definition 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. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 460 -SubTopic 10 -Section 50 -Paragraph 8 -URI http://asc.fasb.org/extlink&oid=68068213&loc=d3e12565-110249 + Details
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