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Preferred and Common Shares and Share-Based Compensation (Tables) | 9 Months Ended
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Sep. 30, 2022
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 |
| September 30, |  |  | October 1, |  |  | September 30, |  |  | October 1, |
| 2022 |  |  | 2021 |  |  | 2022 |  |  | 2021 |
Selling, general and administrative | $ | 4,649 |  |  | $ | 4,360 |  |  | $ | 13,906 |  |  | $ | 13,123 |
Research and development and engineering |  | 586 |  |  |  | 534 |  |  |  | 1,780 |  |  |  | 1,776 |
Cost of revenue |  | 719 |  |  |  | 631 |  |  |  | 2,123 |  |  |  | 2,305 |
Restructuring, acquisition, and related costs |  | — |  |  |  | 2,965 |  |  |  | — |  |  |  | 2,965 |
Total share-based compensation expense | $ | 5,954 |  |  | $ | 8,490 |  |  | $ | 17,809 |  |  | $ | 20,169 |
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 September 30, 2022 |
Grant-date stock price | $ | 137.29 |
Expected volatility |  | 40.33 | %
Risk-free interest rate |  | 1.81 | %
Expected annual dividend yield |  | — |
Fair value | $ | 144.38 |
Schedule of Share Based Payment Award Stock Options Valuation Assumptions | The aggregate Black-Scholes fair value of $1.9 million for the stock options granted during the nine months ended September 30, 2022 was estimated using the following assumptions as of the grant date:
| Nine Months Ended September 30, 2022 |
Expected option term in years |  | 4.5 |
Expected volatility |  | 39.3 | %
Risk-free interest rate |  | 1.83 | %
Expected annual dividend yield |  | — |
The expected option term was calculated using the simplified method permitted under Codification of Staff Accounting Bulletins Topic 14, “Share-Based Payment”. The expected volatility was determined based on the historical volatility of the Company’s common shares over the expected option term. Risk-free interest rate was based upon treasury instrument whose term was six months longer than the expected option term. The expected annual dividend yield is zero as the Company does not have plans to issue dividends.
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 September 30, 2022:
| Shares (In thousands) |  |  | Weighted Average Grant Date Fair Value |
Unvested at December 31, 2021 |  | 292 |  |  | $ | 115.42 |
Granted |  | 118 |  |  | $ | 136.41 |
Vested |  | (135 | ) |  | $ | 114.12 |
Forfeited |  | (13 | ) |  | $ | 126.79 |
Unvested at September 30, 2022 |  | 262 |  |  | $ | 124.72 |
Expected to vest as of September 30, 2022 |  | 242 |  |  |  |
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 September 30, 2022:
| Shares (In thousands) |  |  | Weighted Average Grant Date Fair Value |
Unvested at December 31, 2021 |  | 162 |  |  | $ | 122.26 |
Granted |  | 107 |  |  | $ | 159.00 |
Vested |  | (41 | ) |  | $ | 108.58 |
Forfeited |  | (10 | ) |  | $ | 156.62 |
Unvested at September 30, 2022 |  | 218 |  |  | $ | 144.40 |
Expected to vest as of September 30, 2022 |  | 230 |  |  |  |
Stock Options Issued and Outstanding | The table below summarizes activities relating to stock options issued and outstanding under the Company’s Amended and Restated 2010 Incentive Plan during the nine months ended September 30, 2022:
| Shares (In thousands) |  |  | Weighted Average Exercise Price |
Outstanding as of December 31, 2021 |  | 60 |  |  | $ | 14.13 |
Granted |  | 40 |  |  | $ | 135.86 |
Exercised |  | — |  |  | $ | — |
Forfeited or expired |  | — |  |  | $ | — |
Outstanding as of September 30, 2022 |  | 100 |  |  | $ | 62.77 |
Exercisable as of September 30, 2022 |  | 60 |  |  |  |
Expected to vest as of September 30, 2022 |  | 40 |  |  |  |

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