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STOCK-BASED COMPENSATION (Tables)

12 Months Ended

Dec. 31, 2022

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
			2022						2021						2020
			(in thousands)
Cost of revenue			$	14,853					$	13,087					$	10,636
Selling, general and administrative			58,764						58,387						45,705
Stock-based compensation, before income taxes			73,617						71,474						56,341
Provision for income taxes			(10,969)						(10,299)						(8,130)
Stock-based compensation, net of income taxes			$	62,648					$	61,175					$	48,211

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 25, 2021			917						$	175.24
Options granted			214						$	243.05
Options exercised			(219)						$	114.88
Options canceled			(30)						$	241.35
Options outstanding as of December 31, 2022			882						$	204.41					5.7						$	34,579
Options exercisable as of December 31, 2022			369						$	169.27					3.5						$	23,443
Options expected to vest as of December 31, 2022			514						$	229.64					7.3						$	11,136

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
			2022						2021						2020
Expected life (in years)			6.0						6.0						6.0
Expected volatility			33		%				32		%				30		%
Risk-free interest rate			2.7		%				1.0		%				0.4		%
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 2022:

			Restricted Stock Units						Weighted Average Grant Date Fair Value
			(in thousands)
December 25, 2021			373						$	197.45
Granted			158						$	245.11
Vested			(141)						$	176.04
Canceled			(26)						$	243.42
December 31, 2022			364						$	226.43

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
			2022						2021						2020
			(shares in thousands)
PSUs granted			134						64						98
Weighted average grant date fair value			$	210.42					$	407.76					$	209.67
Key assumptions:
Expected volatility			39		%				37		%				35		%
Risk-free interest rate			2.6		%				0.2		%				0.2		%
Expected dividend yield			0		%				0		%				0		%
Total shareholder return of 20-trading day average stock price on grant date			(32.7)		%				39.9		%				21.7		%

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