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Summary of Significant Accounting Policies (Tables)

12 Months Ended

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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