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Stock-Based Compensation (Tables) | 6 Months Ended
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Jul. 01, 2022
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 |  | Six Months Ended
| July 1, 2022 |  | July 2, 2021 |  | July 1, 2022 |  | July 2, 2021
RSUs and PRSUs | $ | 5,956 |  |  | $ | 4,249 |  |  | $ | 10,951 |  |  | $ | 8,953 |
Total stock-based compensation expense | $ | 5,956 |  |  | $ | 4,249 |  |  | $ | 10,951 |  |  | $ | 8,953 |
Cost of sales | $ | 837 |  |  | $ | 823 |  |  | $ | 1,606 |  |  | $ | 1,937 |
Selling, general and administrative | 4,308 |  |  | 3,215 |  |  | 7,853 |  |  | 6,570 |
Research, development and engineering | 338 |  |  | 211 |  |  | 663 |  |  | 446 |
Restructuring and other charges | 473 |  |  | — |  |  | 829 |  |  | — |
Total stock-based compensation expense | $ | 5,956 |  |  | $ | 4,249 |  |  | $ | 10,951 |  |  | $ | 8,953 |
Schedule of Share-based Compensation, Stock Options Activity | The following table summarizes the Company’s stock option activity for the six month period ended July 1, 2022:
| Number of Stock Options |  | Weighted Average Exercise Price |  | Weighted Average Remaining Contractual Life (In Years) |  | Aggregate Intrinsic Value (In Millions)
Outstanding at December 31, 2021 | 247,640 |  |  | $ | 38.03 |  |  |  |  |
No activity | — |  |  | — |  |  |  |  |
Outstanding and exercisable at July 1, 2022 | 247,640 |  |  | $ | 38.03 |  |  | 3.6 |  | $ | 8.4 |
Schedule of Share-based Compensation, Restricted Stock and Restricted Stock Units Activity | The following table summarizes time-vested RSU activity for the six month period ended July 1, 2022:
| Time-Vested Activity |  | Weighted Average Grant Date Fair Value
Nonvested at December 31, 2021 | 248,131 |  |  | $ | 81.14 |
Granted | 179,242 |  |  | 78.85 |
Vested | (81,171) |  |  | 79.60 |
Forfeited | (10,997) |  |  | 79.35 |
Nonvested at July 1, 2022 | 335,205 |  |  | $ | 80.35 |
The following table summarizes PRSU activity for the six month period ended July 1, 2022:
| Performance- Vested Activity |  | Weighted Average Grant Date Fair Value
Nonvested at December 31, 2021 | 198,869 |  |  | $ | 92.07 |
Granted | 131,393 |  |  | 90.84 |
Forfeited | (51,375) |  |  | 99.62 |
Nonvested at July 1, 2022 | 278,887 |  |  | $ | 90.10 |
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions | The weighted average fair value and assumptions used to value the PRSU awards granted with market-based performance conditions are as follows:
| Six Months Ended
| July 1, 2022 |  | July 2, 2021
Weighted average fair value | $ | 97.58 |  |  | $ | 85.16 |
Risk-free interest rate | 1.58 | % |  | 0.19 | %
Expected volatility | 42 | % |  | 41 | %
Expected life (in years) | 3.9 |  | 3.0
Expected dividend yield | — | % |  | — | %

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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 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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- 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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