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Share-Based Compensation (Tables) | 12 Months Ended
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Jan. 27, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] |
Summary of allocation of stock-based compensation | The following table summarizes pre-tax share-based compensation included in the Statements of Income for fiscal years 2019, 2018, and 2017:
| Fiscal Year Ended
(in thousands) | January 27, 2019 |  | January 28, 2018 |  | January 29, 2017
Revenue offset (Warrant) | $ | 21,501 |  |  | $ | 16,219 |  |  | $ | 5,396 |
Cost of sales | 1,639 |  |  | 1,477 |  |  | 1,591 |
Selling, general and administrative | 41,581 |  |  | 22,423 |  |  | 18,019 |
Product development and engineering | 9,138 |  |  | 7,817 |  |  | 5,822 |
Share-based compensation | $ | 73,859 |  |  | $ | 47,936 |  |  | $ | 30,828 |
Net change in share-based compensation capitalized into inventory | $ | — |  |  | $ | (414 | ) |  | $ | 38 |
Summary of fair value assumptions | The following table summarizes the assumptions used in the Black-Scholes model to determine the fair value of stock options granted in fiscal years 2019, 2018, and 2017:
| Fiscal Year Ended
| January 27, 2019 |  | January 28, 2018 |  | January 29, 2017
Expected lives, in years | 4.5 |  | 4.2 |  | 4.1 - 4.5
Estimated volatility | 32.2% |  | 31.7% |  | 31% - 32%
Dividend yield | — |  | — |  | —
Risk-free interest rate | 2.55% - 2.68% |  | 1.68% |  | 1.04% - 1.51%
Weighted average fair value on grant date | $14.53 |  | $10.70 |  | $5.71
Summary of the activity for stock option awards | The following table summarizes the activity for stock options for fiscal years 2019:
(in thousands, except for per share amounts) | Number of Shares |  | Weighted Average Exercise Price (per share) |  | Aggregate Intrinsic Value (1) |  | Number of Shares Exercisable |  | Weighted Average Contractual Term (years)
Balance at January 28, 2018 | 1,345 |  |  | $ | 26.17 |  |  | $ | 13,953 |  |  | 807 |  |
Options granted | 147 |  |  | 47.99 |  |  |  |  |  |  |
Options exercised | (595 | ) |  | 27.36 |  |  | 12,280 |  |  |  |  |
Options cancelled/forfeited | (20 | ) |  | 26.15 |  |  |  |  |  |  |
Balance at January 27, 2019 | 877 |  |  | $ | 29.03 |  |  | $ | 18,226 |  |  | 472 |  |
Exercisable at January 27, 2019 | 472 |  |  | $ | 24.37 |  |  | $ | 11,991 |  |  |  |  | 2.3
Vested and expected to vest after January 27, 2019 | 877 |  |  | $ | 29.03 |  |  | $ | 18,226 |  |  |  |  | 3.4
Summary of unvested stock option awards | The following table summarizes information regarding unvested stock option awards at January 27, 2019:
(in thousands, except for per share amounts) | Number of Shares |  | Weighted Average Exercise Price (per share) |  | Weighted Average Grant Date Fair Value (per share)
Balance at January 28, 2018 | 534 |  |  | $ | 25.50 |  |  | $ | 7.10 |
Options granted | 147 |  |  | 47.99 |  |  | 14.53 |
Options vested | (261 | ) |  | 24.28 |  |  | 6.86 |
Options forfeited | (20 | ) |  | 26.15 |  |  | 7.30 |
Balance at January 27, 2019 | 400 |  |  | $ | 34.52 |  |  | $ | 10.07 |
Summary of the activity for performance unit awards | The following table summarizes the activity for performance-based restricted stock units for fiscal years 2019 and 2018:
|  |  | Subject to Share Settlement |  | Subject to Cash Settlement |  | Weighted Average Grant Date
(in thousands, except for per share amounts) | Total Units |  | Units |  | Units |  | Recorded Liability |  | Fair Value (per share)
Balance at January 28, 2018 | 363 |  |  | 255 |  |  | 108 |  |  | $ | 6,468 |  |  | $ | 26.58 |
Performance units granted | 287 |  |  | 244 |  |  | 43 |  |  |  |  | 32.93 |
Performance units vested | (431 | ) |  | (286 | ) |  | (145 | ) |  | — |  |  | 25.83 |
Performance units cancelled/forfeited | (16 | ) |  | (10 | ) |  | (6 | ) |  |  |  | 20.28 |
Change in liability |  |  | — |  |  |  |  | 2,845 |  |  |
Balance at January 27, 2019 | 203 |  |  | 203 |  |  | — |  |  | $ | 9,313 |  |  | $ | 37.51 |
Summary of fair value assumptions - performance unit awards | The following tables summarize the assumptions used in the Monte Carlo simulation model to determine the fair value of restricted stock units granted in fiscal year 2015 for both Tranche 1 and Tranche 2.
| January 25, 2015
| Tranche 1 |  | Tranche 2
Expected life, in years | 1.6 |  | 2.1
Estimated volatility | 34% |  | 34%
Dividend yield | —% |  | —%
Risk-free interest rate | 1.5% |  | 1.5%
Weighted average fair value on grant date | $17.26 |  | $14.88
Summary of activity for market performance units | The following table summarizes the activity for the market performance restricted stock units for the fiscal year ended January 27, 2019:
(in thousands, except for per share amounts) | Total Units |  | Weighted Average Grant Date Fair Value (per share)
Balance at January 28, 2018 | 154 |  |  | $ | 14.88 |
Market performance units granted | — |  |  | — |
Market performance units vested | (154 | ) |  | 14.88 |
Market performance units cancelled/forfeited | — |  |  | — |
Balance at January 27, 2019 | — |  |  | $ | — |
Summary of stock unit grants | The Company grants restricted stock units to employees which are expected to be settled with shares of the Company's common stock. The grant date for these awards is equal to the measurement date. These awards are valued as of the measurement date and recognized as an expense over the requisite vesting period (typic ally 4 ye ars).
(in thousands, except for per share amounts) | Restricted Stock Units, Stock Grants, and Stock Units |  | Performance Shares (1)
| 2019 |  | 2018 |  | 2017 |  | 2019 |  | 2018 |  | 2017
Units granted | 998 |  |  | 983 |  |  | 1,228 |  |  | 287 |  |  | 216 |  |  | 231 |
Weighted-average grant date fair value | $ | 45.36 |  |  | $ | 36.96 |  |  | $ | 22.12 |  |  | $ | 32.93 |  |  | $ | 39.55 |  |  | $ | 17.51 |
(1) Restricted stock units granted includes awards that will be cash settled of 146,827 units in fiscal year 2019, 0 units in fiscal year 2018, and 115,500 units in fiscal year 2017.
Summary of the status of non-vested restricted stock unit awards and changes during the year | The following table is a summary of the status of non-vested restricted stock unit awards as of January 27, 2019, and changes during the year.
| Restricted Stock Units, Stock Grants, and Stock Units | Performance Shares
(in thousands, except for per share amounts) | Shares |  | Weighted Average Grant Date Fair Value (per share) |  | Shares |  | Weighted Average Grant Date Fair Value (per share)
Nonvested at January 28, 2018 | 2,175 |  |  | $ | 28.42 |  |  | 363 |  |  | $ | 26.58 |
Granted | 998 |  |  | 45.36 |  |  | 287 |  |  | 32.93 |
Vested | (848 | ) |  | 26.45 |  |  | (431 | ) |  | 25.83 |
Forfeited | (121 | ) |  | 32.56 |  |  | (16 | ) |  | 20.28 |
Nonvested at January 27, 2019 | 2,204 |  |  | $ | 36.62 |  |  | 203 |  |  | $ | 37.51 |

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