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Stock-Based Compensation - (Tables) | 12 Months Ended
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Jan. 01, 2022
Share-based Payment Arrangement [Abstract] |
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):
| Year Ended January 1, 2022 |  | Year Ended January 2, 2021 |  | Year Ended December 28, 2019
| Shares |  | Average Exercise Price |  | Shares |  | Average Exercise Price |  | Shares |  | Average Exercise Price
Options outstanding, beginning of period | 3,448 |  |  | $ | 77.44 |  |  | 5,212 |  |  | $ | 54.23 |  |  | 5,676 |  |  | $ | 43.61 |
Granted | 85 |  |  | 250.15 |  |  | 400 |  |  | 187.83 |  |  | 545 |  |  | 140.56 |
Canceled/Forfeited | (171) |  |  | 149.11 |  |  | (219) |  |  | 126.98 |  |  | (158) |  |  | 83.14 |
Exercised | (391) |  |  | 53.55 |  |  | (1,945) |  |  | 32.41 |  |  | (851) |  |  | 33.32 |
Options outstanding, end of period | 2,971 |  |  | $ | 81.38 |  |  | 3,448 |  |  | $ | 77.44 |  |  | 5,212 |  |  | $ | 54.23 |
Options exercisable, end of period | 2,175 |  |  | $ | 57.09 |  |  | 2,026 |  |  | $ | 47.31 |  |  | 3,311 |  |  | $ | 33.80 |
Number and Weighted Average Exercise Price of Outstanding and Exercisable Options | The number and weighted-average exercise price of outstanding and exercisable stock options segregated by exercise price ranges (in thousands, except range of exercise prices and remaining contractual life) were as follows:
| Year Ended January 1, 2022 |  | Year Ended January 2, 2021
| Options Outstanding |  | Options Exercisable |  | Options Outstanding |  | Options Exercisable
Range of Exercise Prices | Number of Options |  | Average Remaining Contractual Life |  | Number of Options |  | Number of Options |  | Average Remaining Contractual Life |  | Number of Options
$15.00 to $50.00 | 1,426 |  |  | 3.33 |  | 1,426 |  |  | 1,696 |  |  | 4.14 |  | 1,518 |
$50.01 to $80.00 | 31 |  |  | 4.75 |  | 29 |  |  | 42 |  |  | 5.80 |  | 26 |
$80.01 to $120.00 | 805 |  |  | 5.81 |  | 544 |  |  | 910 |  |  | 6.83 |  | 408 |
$120.01 to $160.00 | 356 |  |  | 7.36 |  | 124 |  |  | 476 |  |  | 8.41 |  | 74 |
$160.01 to $200.00 | 226 |  |  | 8.18 |  | 41 |  |  | 255 |  |  | 9.17 |  | — |
$200.01 to $230.00 | 29 |  |  | 8.54 |  | 5 |  |  | 37 |  |  | 9.50 |  | — |
$230.01 to $280.00 | 98 |  |  | 8.97 |  | 6 |  |  | 32 |  |  | 9.53 |  | — |
Total | 2,971 |  |  | 5.11 |  | 2,175 |  |  | 3,448 |  |  | 5.90 |  | 2,026 |
Schedule of Share-based Compensation, Restricted Stock and Restricted Stock Units 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):
| Year Ended January 1, 2022 |  | Year Ended January 2, 2021 |  | Year Ended December 28, 2019
| Units |  | Weighted Average Grant Date Fair Value |  | Units |  | Weighted Average Grant Date Fair Value |  | Units |  | Weighted Average Grant Date Fair Value
RSUs outstanding, beginning of period | 2,862 |  |  | $ | 99.66 |  |  | 2,797 |  |  | $ | 96.85 |  |  | 2,707 |  |  | $ | 95.54 |
Granted | 112 |  |  | 257.43 |  |  | 98 |  |  | 193.77 |  |  | 100 |  |  | 133.57 |
Canceled/Forfeited | (23) |  |  | 204.33 |  |  | (6) |  |  | 165.03 |  |  | (3) |  |  | 133.50 |
Vested | (35) |  |  | 163.71 |  |  | (27) |  |  | 134.78 |  |  | (7) |  |  | 99.05 |
RSUs outstanding, end of period | 2,916 |  |  | $ | 104.13 |  |  | 2,862 |  |  | $ | 99.66 |  |  | 2,797 |  |  | $ | 96.85 |
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):
| Year Ended January 1, 2022 |  | Year Ended January 2, 2021 |  | Year Ended December 28, 2019
| Units |  | Weighted Average Grant Date Fair Value |  | Units |  | Weighted Average Grant Date Fair Value |  | Units |  | Weighted Average Grant Date Fair Value
PSUs outstanding, beginning of period | 444 |  |  | $ | 120.28 |  |  | 412 |  |  | $ | 102.22 |  |  | 313 |  |  | $ | 88.34 |
Granted | 148 |  | (1) | 250.73 |  |  | 97 |  |  | 179.42 |  |  | 128 |  |  | 133.50 |
Canceled/Forfeited | (17) |  |  | 166.84 |  |  | (7) |  |  | 122.13 |  |  | — |  |  | — |
Vested | (272) |  |  | 86.95 |  |  | (58) |  |  | 90.69 |  |  | (29) |  |  | 90.69 |
PSUs outstanding, end of period | 303 |  |  | $ | 168.68 |  |  | 444 |  |  | $ | 120.28 |  |  | 412 |  |  | $ | 102.22 |
(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 Company’s actual fiscal year 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.
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:
| Year Ended January 1, 2022 |  | Year Ended January 2, 2021 |  | Year Ended December 28, 2019
Risk-free interest rate | 0.3% to 0.9% |  | 0.2% to 1.7% |  | 1.4% to 2.6%
Expected term | 5.1 years to 5.6 years |  | 5.1 years to 5.1 years |  | 5.1 years to 5.2 years
Estimated volatility | 30.9% to 34.7% |  | 26.9% to 35.5% |  | 28.2% to 30.0%
Expected dividends | 0% |  | 0% |  | 0%
Weighted-average fair value of options granted | $75.72 per share |  | $51.10 per share |  | $42.29 per share
Total Share-Based Compensation Expense Included in Consolidated Statements of Comprehensive Income | The following table presents the total stock-based compensation expense that is included in each functional line item of the consolidated statements of operations (in thousands):
| Year Ended January 1, 2022 |  | Year Ended January 2, 2021 |  | Year Ended December 28, 2019
Cost of goods sold | $ | 839 |  |  | $ | 714 |  |  | $ | 445 |
Selling, general and administrative | 31,315 |  |  | 31,462 |  |  | 30,450 |
Research and development | 12,470 |  |  | 10,049 |  |  | 8,340 |
Total | $ | 44,624 |  |  | $ | 42,225 |  |  | $ | 39,235 |

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- Definition Tabular disclosure of option exercise prices, by grouped ranges, including the upper and lower limits of the price range, the number of shares under option, weighted average exercise price and remaining contractual option terms. + 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 -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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