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Share-Based Compensation (Tables) | 12 Months Ended
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Jan. 29, 2023
Share-Based Payment Arrangement, Noncash Expense [Abstract] |
Summary of allocation of stock-based compensation | Pre-tax share-based compensation, excluding the acceleration of Sierra Wireless equity awards, was included in the Statements of Income for fiscal years 2023, 2022 and 2021 as follows:
| Fiscal Year Ended
(in thousands) | January 29, 2023 |  | January 30, 2022 |  | January 31, 2021
Cost of sales | $ | 2,645 |  |  | $ | 2,901 |  |  | $ | 2,501 |
Selling, general and administrative | 21,493 |  |  | 32,578 |  |  | 37,000 |
Product development and engineering | 15,110 |  |  | 15,710 |  |  | 13,485 |
Share-based compensation | $ | 39,248 |  |  | $ | 51,189 |  |  | $ | 52,986 |
Summary of fair value assumptions | The Company uses the Black-Scholes pricing model to value stock options. The following table summarizes the assumptions used in the Black-Scholes model to determine the fair value of stock options granted in fiscal year 2023:
| Fiscal Year Ended
| January 29, 2023 |  |  |  |
Expected term, in years | 4 |  |  |  |
Estimated volatility | 50.5 | % |  |  |  |
Dividend yield | — |  |  |  |  |
Risk-free interest rate | 4.0 | % |  |  |  |
Weighted-average fair value on grant date | $ | 12.77 |  |  |  |  |
Summary of the activity for stock option awards | The following table summarizes the activity for stock options for fiscal year 2023:
(in thousands, except per share data) | Number of Shares |  | Weighted- Average Exercise Price (per share) |  | Aggregate Intrinsic Value (1) |  |  |  | Number of Shares Exercisable |  | Weighted-Average Contractual Term (years)
Vested and expected to vest at January 30, 2022 | 118 |  |  | $ | 40.17 |  |  | $ | 3,253 |  |  |  |  | 84 |  |
Granted | 542 |  |  | 29.30 |  |  |  |  |  |  |  |  |
Exercised | (24) |  |  | 25.42 |  |  | 963 |  |  |  |  |  |  |
Forfeited | (28) |  |  | 42.78 |  |  |  |  |  |  |  |  |
Vested and expected to vest at January 29, 2023 | 608 |  |  | $ | 30.96 |  |  | $ | 2,151 |  |  |  |  | 68 |  | 5.4
Vested and exercisable at January 29, 2023 | 68 |  |  | $ | 44.24 |  |  | $ | 71 |  |  |  |  |  |  | 2.2
(1) The aggregate intrinsic value of stock options vested and exercisable and vested and expected to vest as of January 29, 2023 is calculated based on the difference between the exercise price and the $33.15 closing price of the Company's common stock as of January 29, 2023.
Summary of unvested stock option awards | The following table summarizes information regarding nonvested stock option awards at January 29, 2023:
(in thousands, except per share data) | Number of Shares |  | Weighted-Average Exercise Price (per share) |  | Weighted-Average Grant Date Fair Value (per share)
Nonvested at January 30, 2022 | 34 |  |  | $ | 47.73 |  |  | $ | 14.45 |
Granted | 542 |  |  | 29.30 |  |  | 12.77 |
Vested | (33) |  |  | 47.62 |  |  | 14.42 |
Forfeited | (3) |  |  | 39.12 |  |  | 13.96 |
Nonvested at January 29, 2023 | 540 |  |  | $ | 29.30 |  |  | $ | 12.77 |
Summary of activity for market performance units | The following table is a summary of the status of nonvested restricted stock unit awards as of January 29, 2023, and changes during the year.
| Restricted Stock Units, Stock Grants and Stock Units |  |
(in thousands, except per share data) | Shares |  | Weighted-Average Grant Date Fair Value (per share) |  |  |  |
Nonvested at January 30, 2022 | 1,902 |  |  | $ | 58.47 |  |  |  |  |
Granted | 687 |  |  | 41.91 |  |  |  |  |
Vested | (738) |  |  | 54.87 |  |  |  |  |
Forfeited | (212) |  |  | 60.38 |  |  |  |  |
Nonvested at January 29, 2023 | 1,639 |  |  | $ | 52.91 |  |  |  |  |
The following table summarizes the activity for the non-employee directors restricted stock units for the fiscal year ended January 29, 2023:
(in thousands, except per share data) | Total Units |  | Units Subject to Share Settlement |  | Units Subject to Cash Settlement |  | Weighted-Average Grant Date Fair Value (per share)
Nonvested at January 30, 2022 | 24 |  |  | 12 |  |  | 12 |  |  | $ | 68.06 |
Granted | 32 |  |  | 16 |  |  | 16 |  |  | 51.97 |
Vested | (24) |  |  | (12) |  |  | (12) |  |  | 68.06 |
Nonvested at January 29, 2023 | 32 |  |  | 16 |  |  | 16 |  |  | $ | 51.97 |
Share-Based Payment Arrangement, Outstanding Award, Activity, Excluding Option | The following table summarizes the activity for the TSR Awards for fiscal year 2023:
(in thousands, except per share data) | Total Units |  | Weighted-Average Grant Date Fair Value (per share)
Nonvested at January 30, 2022 | 138 |  |  | $ | 61.61 |
Granted | 125 |  |  | 67.52 |
Vested | — |  |  | — |
Cancelled/Forfeited (1) | (175) |  |  | 58.98 |
Nonvested at January 29, 2023 | 88 |  |  | $ | 75.18 |
(1) Primarily represents cancellations due to awards not meeting the TSR target, as well as forfeitures due to the terminations of two officers.

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- Definition Tabular disclosure of allocation of amount expensed and capitalized for award under share-based payment arrangement to statement of income or comprehensive income and statement of financial position. Includes, but is not limited to, corresponding line item in financial statement. + 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 https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901 + Details
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- Definition Tabular disclosure of activity for outstanding award under share-based payment arrangement excluding share and unit options and nonvested award. + 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 (c)(2) -URI https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901 + 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 https://asc.fasb.org/extlink&oid=128089324&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 https://asc.fasb.org/extlink&oid=128089324&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 https://asc.fasb.org/extlink&oid=128089324&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 https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901 + Details
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