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STOCK-BASED COMPENSATION (Tables)

12 Months Ended

Dec. 31, 2016

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

Financial Statement Line Items in Which Stock-based Compensation is Reflected

The following table provides the financial statement line items in which stock-based compensation is reflected:

	Fiscal Year
	2016				2015				2014
	(in thousands)
Cost of revenue (excluding amortization of intangible assets)	$	6,508			$	6,511			$	5,382
Selling, general and administrative	37,134				33,611				25,653
Stock-based compensation expense, before income taxes	43,642				40,122				31,035
Provision for income taxes	(15,548		)		(14,225		)		(11,006		)
Stock-based compensation, net of income taxes	$	28,094			$	25,897			$	20,029

Summary of Stock Option Activity

The following table summarizes stock option activities under the Company’s stock-based compensation plans:

	Number of shares			Weighted Average Exercise Price				Weighted Average Remaining Contractual Life (in years)		Aggregate Intrinsic Value
	(in thousands, except per share amounts)
Options outstanding as of December 26, 2015	2,066			$	50.62
Options granted	588			$	74.13
Options exercised	(601	)		$	38.52
Options canceled	(83	)		$	62.66
Options outstanding as of December 31, 2016	1,970			$	60.82			3.4		$	30,638
Options exercisable as of December 31, 2016	746			$	48.34			2.6		$	20,817
Options expected to vest as of December 31, 2016	1,202			$	68.40			3.8		$	9,690

Weighted-average Assumptions

The fair value of stock options granted was estimated using the Black-Scholes option-pricing model with the following weighted-average assumptions:

	Fiscal Year
	2016			2015			2014
Expected life (in years)	3.6			3.6			4.2
Expected volatility	25	%		28	%		30	%
Risk-free interest rate	1.2	%		1.1	%		1.5	%
Expected dividend yield	0	%		0	%		0	%

Summary of Restricted Stock and Restricted Stock Unit Activity

The following table summarizes the restricted stock and restricted stock units activity for fiscal year 2016:

	Restricted Stock and Restricted Stock Units			Weighted Average Grant Date Fair Value
	(in thousands)
December 26, 2015	607			$	55.52
Granted	236			$	75.10
Vested	(296	)		$	49.29
Canceled	(32	)		$	63.36
December 31, 2016	515			$	67.62

Information about PSUs and Related Weighted-Average Assumptions

The Company utilizes a Monte Carlo simulation valuation model to value these awards. Information pertaining to the Company’s PSUs and the related estimated weighted-average assumptions used to calculate their fair value were as follows:

	Fiscal Year
	2016				2015				2014
PSUs granted	190,628				148,900				214,823
Weighted average per share fair value	$	80.38			$	88.62			$	67.82
Key Assumptions:
Expected volatility	24		%		23		%		29		%
Risk-free interest rate	0.91		%		0.96		%		0.63		%
Expected dividend yield	—		%		—		%		—		%
20 trading day average stock price on grant date	(4.8		)%		20.6		%		13.1		%

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