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Stock-Based Compensation Expense (Tables)

9 Months Ended

Oct. 01, 2017

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Summary of Stock Option Activity

The following table summarizes the Company’s stock option activity for the nine-month period ended October 1, 2017:

	Shares (in thousands)			Weighted- Average Exercise Price				Weighted- Average Remaining Contractual Term (in years)		Aggregate Intrinsic Value (in thousands)
Outstanding as of December 31, 2016	6,433			$	32.16
Granted	1,980			77.87
Exercised	(1,731	)		25.85
Forfeited or expired	(84	)		45.57
Outstanding as of October 1, 2017	6,598			$	47.36			7.77		$	415,030
Exercisable as of October 1, 2017	1,707			$	27.96			5.68		$	140,559
Options vested or expected to vest as of October 1, 2017 (1)	5,795			$	45.86			7.63		$	373,276

 (1) In addition to the vested options, the Company expects a portion of the unvested options to vest at some point in the future. Options expected to vest are calculated by applying an estimated forfeiture rate to the unvested options.

Weighted-Average Assumptions Used in Estimating Fair Values of Stock Options Granted

The fair values of stock options granted in each period presented were estimated using the following weighted-average assumptions:

	Three-months Ended						Nine-months Ended
	October 1, 2017			October 2, 2016			October 1, 2017			October 2, 2016
Risk-free rate	2.4	%		1.7	%		2.4	%		1.7	%
Expected dividend yield	0.39	%		0.84	%		0.39	%		0.84	%
Expected volatility	41	%		41	%		41	%		41	%
Expected term (in years)	5.1			5.5			5.3			5.5

Nonvested Restricted Stock Shares Activity

The following table summarizes the Company's restricted stock activity for the nine-month period ended October 1, 2017:

	Shares (in thousands)			Weighted-Average Grant Fair Value				Aggregate Intrinsic Value (in thousands)(1)
Nonvested as of December 31, 2016	20			$	34.05
Granted	—			—
Vested	(10	)		34.05				825
Forfeited or expired	—			—
Nonvested as of October 1, 2017	10			$	34.05			$	1,103

Schedule of Employee Service Share-based Compensation, Allocation of Recognized Period Costs

The following table presents the stock-based compensation expense by caption for each period presented on the Consolidated Statements of Operations (in thousands):

	Three-months Ended								Nine-months Ended
	October 1, 2017				October 2, 2016				October 1, 2017				October 2, 2016
Cost of revenue	$	520			$	273			$	1,404			$	795
Research, development, and engineering	2,765				1,366				8,090				4,942
Selling, general, and administrative	4,741				2,983				13,861				10,146
	$	8,026			$	4,622			$	23,355			$	15,883

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Tabular disclosure of the changes in outstanding nonvested restricted stock shares.

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 2
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Tabular disclosure of the number and weighted-average exercise prices (or conversion ratios) for share options (or share units) that were outstanding at the beginning and end of the year, vested and expected to vest, exercisable or convertible at the end of the year, and the number of share options or share units that were granted, exercised or converted, forfeited, and expired during the year.

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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.

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