XML 100 R47.htm IDEA: XBRL DOCUMENT v3.22.0.1

Stock-Based Compensation - (Tables)

12 Months Ended

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

X

- References

No definition available.

+ Details

Name:	us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of allocation of amount expensed and capitalized for award under share-based payment arrangement to statement of income or comprehensive income and statement of financial position. Includes, but is not limited to, corresponding line item in financial statement.

+ 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 (h)(1)
-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 S99
-Paragraph 1
-Subparagraph (SAB Topic 14.F)
-URI http://asc.fasb.org/extlink&oid=122041274&loc=d3e301413-122809

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5047-113901

+ Details

Name:	us-gaap_ScheduleOfEmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the changes in outstanding nonvested performance-based units.

+ 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)(2)
-URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901

+ Details

Name:	us-gaap_ScheduleOfNonvestedPerformanceBasedUnitsActivityTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- 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

Name:	us-gaap_ScheduleOfShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- 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

Name:	us-gaap_ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- 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

Name:	us-gaap_ScheduleOfShareBasedPaymentAwardStockOptionsValuationAssumptionsTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Disclosure of the number and weighted-average grant date fair value for restricted stock and restricted stock units that were outstanding at the beginning and end of the year, and the number of restricted stock and restricted stock units that were granted, vested, or forfeited during the year.

+ References

No definition available.

+ Details

Name:	us-gaap_ScheduleOfSharebasedCompensationRestrictedStockAndRestrictedStockUnitsActivityTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration