XML 48 R34.htm IDEA: XBRL DOCUMENT
v3.21.2

Preferred and Common Shares and Share-Based Compensation (Tables) | 9 Months Ended
--- | ---
Oct. 01, 2021
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] |
Share-Based Compensation Expense Recorded in the Consolidated Statements of Operations | The table below summarizes share-based compensation expense recorded in the consolidated statements of operations (in thousands):
| Three Months Ended |  |  | Nine Months Ended |
| October 1, |  |  | October 2, |  |  | October 1, |  |  | October 2, |
| 2021 |  |  | 2020 |  |  | 2021 |  |  | 2020 |
Selling, general and administrative | $ | 4,360 |  |  | $ | 4,265 |  |  | $ | 13,123 |  |  | $ | 10,225 |
Research and development and engineering |  | 534 |  |  |  | 1,150 |  |  |  | 1,776 |  |  |  | 2,204 |
Cost of revenue |  | 631 |  |  |  | 1,589 |  |  |  | 2,305 |  |  |  | 3,185 |
Restructuring, acquisition, and related costs |  | 2,965 |  |  |  | 221 |  |  |  | 2,965 |  |  |  | 458 |
Total share-based compensation expense | $ | 8,490 |  |  | $ | 7,225 |  |  | $ | 20,169 |  |  | $ | 16,072 |
Schedule of Share Based Payment Award Performance Stock Awards Valuation Assumptions | The fair value of the TSR-PSUs at the date of grant was estimated using the Monte Carlo valuation method with the following assumptions:
| Nine Months Ended October 1, 2021 |
Grant-date stock price | $ | 138.23 |
Expected volatility |  | 42.44 | %
Risk-free interest rate |  | 0.22 | %
Expected annual dividend yield |  | — |
Fair value | $ | 166.64 |
Amended and Restated 2010 Incentive Plan |
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] |
Restricted Stock Units and Deferred Stock Units Issued and Outstanding | The table below summarizes activities relating to RSUs and DSUs issued and outstanding under the Company’s Amended and Restated 2010 Incentive Plan during the nine months ended October 1, 2021:
| Shares (In thousands) |  |  | Weighted Average Grant Date Fair Value |
Unvested at December 31, 2020 |  | 625 |  |  | $ | 58.79 |
Granted |  | 169 |  |  | $ | 136.85 |
Vested |  | (485 | ) |  | $ | 51.21 |
Forfeited |  | (20 | ) |  | $ | 103.20 |
Unvested at October 1, 2021 |  | 289 |  |  | $ | 113.94 |
Expected to vest as of October 1, 2021 |  | 272 |  |  |  |  |
Performance-Based Awards Issued and Outstanding | The table below summarizes the activities relating to the performance-based awards issued and outstanding under the Company’s Amended and Restated 2010 Incentive Plan during the nine months ended October 1, 2021:
| Shares (In thousands) |  |  | Weighted Average Grant Date Fair Value |
Unvested at December 31, 2020 |  | 142 |  |  | $ | 88.99 |
Granted |  | 67 |  |  | $ | 150.89 |
Performance adjustment |  | 28 |  |  | $ | 67.72 |
Vested |  | (75 | ) |  | $ | 64.25 |
Forfeited |  | — |  |  | $ | — |
Unvested at October 1, 2021 |  | 162 |  |  | $ | 122.26 |
Expected to vest as of October 1, 2021 |  | 177 |  |  |  |  |

X
- Definition Tabular disclosure of the significant assumptions used during the year to estimate the fair value of performance stock awards with market condition, including, but not limited to: (a) expected term of performance stock awards 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 No definition available. + Details
Name: | novt_ScheduleOfShareBasedPaymentAwardPerformanceStockAwardsValuationAssumptionsTableTextBlock
Namespace Prefix: | novt_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- 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 http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SAB Topic 14.F) -URI http://asc.fasb.org/extlink&oid=122041274&loc=d3e301413-122809 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5047-113901 + Details
Name: | us-gaap_ScheduleOfEmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the changes in outstanding nonvested performance-based units. + 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 http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 + Details
Name: | us-gaap_ScheduleOfNonvestedPerformanceBasedUnitsActivityTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the number and weighted-average grant date fair value for restricted stock units that were outstanding at the beginning and end of the year, and the number of restricted stock units that were granted, vested, or forfeited during the year. + 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)(1) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 + Details
Name: | us-gaap_ScheduleOfShareBasedCompensationRestrictedStockUnitsAwardActivityTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. + References No definition available. + Details
Name: | us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Details
Name: | us-gaap_PlanNameAxis=novt_EquityIncentivePlanTwentyTenMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |