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Stock-Based Compensation Expense (Tables) | 9 Months Ended
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Sep. 29, 2019
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 September 29, 2019:
| Shares (in thousands) |  | Weighted- Average Exercise Price |  | Weighted- Average Remaining Contractual Term (in years) |  | Aggregate Intrinsic Value (in thousands)
Outstanding as of December 31, 2018 | 13,789 |  |  | $ | 31.73 |  |  |  |  |
Granted | 2,879 |  |  | 51.22 |  |  |  |  |
Exercised | (1,475 | ) |  | 21.53 |  |  |  |  |
Forfeited or expired | (726 | ) |  | 41.79 |  |  |  |  |
Outstanding as of September 29, 2019 | 14,467 |  |  | $ | 36.14 |  |  | 7.19 |  | $ | 203,774 |
Exercisable as of September 29, 2019 | 5,714 |  |  | $ | 25.33 |  |  | 5.73 |  | $ | 134,913 |
Options vested or expected to vest as of September 29, 2019 (1) | 13,116 |  |  | $ | 34.90 |  |  | 7.04 |  | $ | 199,066 |
(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
| September 29, 2019 |  | September 30, 2018 |  | September 29, 2019 |  | September 30, 2018
Risk-free rate | 2.7 | % |  | 2.9 | % |  | 2.7 | % |  | 2.9 | %
Expected dividend yield | 0.39 | % |  | 0.32 | % |  | 0.39 | % |  | 0.32 | %
Expected volatility | 37 | % |  | 39 | % |  | 37 | % |  | 39 | %
Expected term (in years) | 5.1 |  |  | 5.4 |  |  | 5.2 |  |  | 5.3 |
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
| September 29, 2019 |  | September 30, 2018 |  | September 29, 2019 |  | September 30, 2018
Cost of revenue | $ | 334 |  |  | $ | 544 |  |  | $ | 1,114 |  |  | $ | 1,898 |
Research, development, and engineering | 3,616 |  |  | 3,197 |  |  | 11,633 |  |  | 11,166 |
Selling, general, and administrative | 6,244 |  |  | 5,402 |  |  | 20,695 |  |  | 18,275 |
| $ | 10,194 |  |  | $ | 9,143 |  |  | $ | 33,442 |  |  | $ | 31,339 |
Schedule of Nonvested Restricted Stock Units Activity | The following table summarizes the Company's RSUs activity for the nine-month period ended September 29, 2019:
| Shares (in thousands) |  | Weighted-Average Grant Date Fair Value
Nonvested as of December 31, 2018 | — |  |  | $ | — |
Granted | 75 |  |  | 45.20 |
Vested | — |  |  | — |
Forfeited or expired | — |  |  | — |
Nonvested as of September 29, 2019 | 75 |  |  | $ | 45.20 |

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- Definition Tabular disclosure of the allocation of equity-based compensation costs to a given line item on the balance sheet and income statement for the period. This may include the reporting line for the costs and the amount capitalized and expensed. + 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=109197908&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=115993241&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=109197908&loc=d3e5047-113901 + 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=109197908&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=109197908&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=109197908&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=109197908&loc=d3e5070-113901 + Details
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