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Stock-Based Compensation (Tables) | 6 Months Ended
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Jul. 03, 2021
Share-based Payment Arrangement [Abstract] |
Schedule of Number and Weighted Average Exercise Price of Options Issued and Outstanding under all Stock Option Plans | The number and weighted-average exercise price of options issued and outstanding under all of the Company’s equity plans are as follows (in thousands, except for weighted-average exercise prices):
| Six Months Ended July 3, 2021
| Shares |  | Weighted-Average Exercise Price
Options outstanding, beginning of period | 3,448 |  |  | $ | 77.44 |
Granted | 85 |  |  | 250.15 |
Canceled | (128) |  |  | 146.51 |
Exercised | (113) |  |  | 56.02 |
Options outstanding, end of period | 3,292 |  |  | $ | 79.92 |
Options exercisable, end of period | 2,311 |  |  | $ | 53.95 |
Schedule of Share-based Compensation, Restricted Stock Units Award Activity | The number of RSUs issued and outstanding under all of the Company’s equity plans are as follows (in thousands, except for weighted-average grant date fair value amounts):
| Six Months Ended July 3, 2021 |  |  |  |
| Units |  | Weighted-Average Grant Date Fair Value |  |  |  |  |  |  |  |
RSUs outstanding, beginning of period | 2,862 |  |  | $ | 99.66 |  |  |  |  |  |  |  |  |
Granted | 82 |  |  | 246.67 |  |  |  |  |  |  |  |  |
Canceled | (10) |  |  | 197.13 |  |  |  |  |  |  |  |  |
Expired | — |  |  | — |  |  |  |  |  |  |  |  |
Vested | (34) |  |  | 163.57 |  |  |  |  |  |  |  |  |
RSUs outstanding, end of period | 2,900 |  |  | $ | 102.71 |  |  |  |  |  |  |  |  |
Schedule of Nonvested Performance-based Units Activity | The number of PSUs outstanding under all of the Company’s equity plans are as follows (in thousands, except for weighted-average grant date fair value amounts):
| Six Months Ended July 3, 2021
| Units |  | Weighted-Average Grant Date Fair Value
PSUs outstanding, beginning of period | 444 |  |  | $ | 120.28 |
Granted(1) | 148 |  |  | 162.99 |
Canceled | (17) |  |  | 166.84 |
Expired | — |  |  | — |
Vested | (273) |  |  | 86.95 |
PSUs outstanding, end of period | 302 |  |  | $ | 168.68 |
______________ (1) On February 22, 2021, the Audit Committee approved the weighted payout percentage for the 2018 PSU awards (three-year performance period), which were based upon the actual fiscal 2020 performance against pre-established performance objectives. Included in the granted amount are those additional PSUs earned based on actual performance achieved. These PSUs were originally awarded at target.
Schedule of Range of Assumptions Used and Resulting Weighted-Average Fair Value of Options Granted at Date of Grant | The range of assumptions used and the resulting weighted-average fair value of options granted at the date of grant were as follows:
| Three Months Ended |  | Six Months Ended
| July 3, 2021 |  | June 27, 2020 |  | July 3, 2021 |  | June 27, 2020
Risk-free interest rate | 0.4% |  | 0.3% to 0.6% |  | 0.3% to 0.9% |  | 0.3% to 1.7%
Expected term (in years) | 5.1 |  | 5.1 |  | 5.6 |  | 5.1
Estimated volatility | 32.9% |  | 26.9% to 35.5% |  | 30.9% to 34.7% |  | 26.9% to 35.5%
Expected dividends | 0% |  | 0% |  | 0% |  | 0%
Weighted-average fair value of options granted | $66.53 |  | $60.12 |  | $75.72 |  | $49.82

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- Definition Tabular disclosure of the number and weighted-average grant date fair value for restricted stock units that were outstanding at the beginning and end of the year, and the number of restricted stock units that were granted, vested, or forfeited during the year. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(1) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 + Details
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- Definition Tabular disclosure for stock option plans. Includes, but is not limited to, outstanding awards at beginning and end of year, grants, exercises, forfeitures, and weighted-average grant date fair value. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (e) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(1) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 + Details
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- Definition Tabular disclosure of the significant assumptions used during the year to estimate the fair value of stock options, including, but not limited to: (a) expected term of share options and similar instruments, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (f)(2) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 + Details
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