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Stock-Based Compensation (Tables)

3 Months Ended

Apr. 02, 2023

Equity [Abstract]

Compensation Expense Related to Stock-Based Compensation Plans

Stock-based compensation expense was as follows:

									Three Months Ended
(In millions)															April 2, 2023						April 3, 2022
Cost of sales															$	1.0					$	0.6
Research and development															1.3						1.1
Selling, marketing and administrative															7.2						5.3
Acquisition and integration costs															4.5						0.4
Total stock-based compensation expense															$	14.0					$	7.4

Estimated Fair Value of Each Stock Option Award

The estimated fair value of each stock option was determined on the date of grant using the Black-Scholes option valuation model with the following weighted-average assumptions for the option grants:

									Three Months Ended
									April 2, 2023						April 3, 2022
Risk-free interest rate									3.63		%				1.63		%
Expected option life (in years)									5.51						4.91
Volatility rate									57		%				58		%
Dividend rate									0		%				0		%
Weighted-average grant date fair value									$47.83						$51.79

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- References

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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

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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

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