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STOCK-BASED COMPENSATION (Tables)

12 Months Ended

Dec. 26, 2020

Share-based Payment Arrangement [Abstract]

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

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

			Fiscal Year
			2020						2019						2018
			(in thousands)
Cost of revenue			$	10,636					$	9,038					$	6,285
Selling, general and administrative			45,705						48,233						41,061
Stock-based compensation, before income taxes			56,341						57,271						47,346
Provision for income taxes			(8,130)						(9,465)						(9,188)
Stock-based compensation, net of income taxes			$	48,211					$	47,806					$	38,158

Summary of Stock Option Activity

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

			Number of shares						Weighted Average Exercise Price						Weighted Average Remaining Contractual Life						Aggregate Intrinsic Value
			(in thousands)												(in years)						(in thousands)
Options outstanding as of December 28, 2019			1,507						$	105.19
Options granted			292						$	178.79
Options exercised			(533)						$	87.45
Options canceled			(50)						$	134.02
Options outstanding as of December 26, 2020			1,216						$	129.34					3.8						$	148,795
Options exercisable as of December 26, 2020			308						$	98.34					1.5						$	47,163
Options expected to vest as of December 26, 2020			908						$	139.84					4.6						$	101,632

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
			2020						2019						2018
Expected life (in years)			6.0						3.6						3.7
Expected volatility			30		%				27		%				25		%
Risk-free interest rate			0.4		%				2.4		%				2.4		%
Expected dividend yield			0		%				0		%				0		%

Summary of Restricted Stock and Restricted Stock Unit Activity

The following table summarizes the restricted stock units activity for fiscal year 2020:

			Restricted Stock Units						Weighted Average Grant Date Fair Value
			(in thousands)
December 28, 2019			496						$	116.07
Granted			178						$	182.10
Vested			(187)						$	106.94
Canceled			(21)						$	136.15
December 26, 2020			466						$	144.03

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
			2020						2019						2018
			(shares in thousands)
PSUs granted			98						160						200
Weighted average grant date fair value			$	209.67					$	164.47					$	117.89
Key assumptions:
Expected volatility			35		%				25		%				26		%
Risk-free interest rate			0.2		%				2.4		%				2.4		%
Expected dividend yield			0		%				0		%				0		%
Total shareholder return of 20-trading day average stock price on grant date			21.7		%				17.7		%				2.9		%

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