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Stock-Based Compensation (Tables) | 9 Months Ended
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Oct. 01, 2021
Share-based Payment Arrangement [Abstract] |
Schedule of Employee Service Share-based Compensation, Allocation of Recognized Period Costs | The components and classification of stock-based compensation expense were as follows (in thousands):
| Three Months Ended |  | Nine Months Ended
| October 1, 2021 |  | October 2, 2020 |  | October 1, 2021 |  | October 2, 2020
Stock options | $ | — |  |  | $ | 10 |  |  | $ | — |  |  | $ | 33 |
RSUs | 3,282 |  |  | 2,977 |  |  | 12,235 |  |  | 6,196 |
Total stock-based compensation expense | $ | 3,282 |  |  | $ | 2,987 |  |  | $ | 12,235 |  |  | $ | 6,229 |
Cost of sales | $ | 649 |  |  | $ | 530 |  |  | $ | 2,586 |  |  | $ | 1,214 |
Selling, general and administrative | 2,177 |  |  | 2,319 |  |  | 8,747 |  |  | 4,608 |
Research, development and engineering | 302 |  |  | 138 |  |  | 748 |  |  | 407 |
Other operating expenses | 154 |  |  | — |  |  | 154 |  |  | — |
Total stock-based compensation expense | $ | 3,282 |  |  | $ | 2,987 |  |  | $ | 12,235 |  |  | $ | 6,229 |
Schedule of Share-based Compensation, Stock Options Activity | The following table summarizes the Company’s stock option activity for the nine month period ended October 1, 2021:
| Number of Stock Options |  | Weighted Average Exercise Price |  | Weighted Average Remaining Contractual Life (In Years) |  | Aggregate Intrinsic Value (In Millions)
Outstanding at December 31, 2020 | 281,873 |  |  | $ | 36.05 |  |  |  |  |
Exercised | (27,002) |  |  | 22.01 |  |  |  |  |
Outstanding and exercisable at October 1, 2021 | 254,871 |  |  | $ | 37.53 |  |  | 4.3 |  | $ | 13.9 |
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions | The weighted average fair value and assumptions used to value the TSR portion of the PRSUs granted are as follows:
| Nine Months Ended
| October 1, 2021 |  | October 2, 2020
Weighted average fair value | $ | 85.16 |  |  | $ | 107.42 |
Risk-free interest rate | 0.19 | % |  | 1.53 | %
Expected volatility | 41 | % |  | 30 | %
Expected life (in years) | 3.0 |  | 2.9
Expected dividend yield | — | % |  | — | %
Schedule of Share-based Compensation, Restricted Stock and Restricted Stock Units Activity | The following table summarizes time-vested RSU activity for the nine month period ended October 1, 2021:
| Time-Vested Activity |  | Weighted Average Grant Date Fair Value
Nonvested at December 31, 2020 | 207,923 |  |  | $ | 75.38 |
Granted | 190,143 |  |  | 82.20 |
Vested | (90,740) |  |  | 66.97 |
Forfeited | (15,912) |  |  | 79.59 |
Nonvested at October 1, 2021 | 291,414 |  |  | $ | 82.22 |
The following table summarizes PRSU activity for the nine month period ended October 1, 2021:
| Performance- Vested Activity |  | Weighted Average Grant Date Fair Value
Nonvested at December 31, 2020 | 219,391 |  |  | $ | 72.33 |
Granted | 92,345 |  |  | 85.16 |
Vested | (38,882) |  |  | 37.75 |
Forfeited | (69,333) |  |  | 51.16 |
Nonvested at October 1, 2021 | 203,521 |  |  | $ | 91.97 |

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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 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
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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 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 50 -Paragraph 2 -Subparagraph (e) -URI http://asc.fasb.org/extlink&oid=120381028&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 http://asc.fasb.org/extlink&oid=120381028&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 http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 + Details
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- Definition Disclosure of the number and weighted-average grant date fair value for restricted stock and restricted stock units that were outstanding at the beginning and end of the year, and the number of restricted stock and restricted stock units that were granted, vested, or forfeited during the year. + References No definition available. + Details
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