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Shareholders' Equity (Tables) | 12 Months Ended
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Dec. 31, 2016
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] |
Stock-based compensation expense | Total stock-based compensation expense was as follows (in thousands):
|  | 2016 |  | 2015 |  | 2014
Stock options |  | $ | 2,281 |  |  | $ | 2,634 |  |  | $ | 2,125 |
Stock awards |  | 9,680 |  |  | 7,656 |  |  | 4,673 |
Total stock-based compensation expense(1) |  | 11,961 |  |  | 10,290 |  |  | 6,798 |
Income tax benefit |  | 3,947 |  |  | 3,413 |  |  | 2,284 |
Total stock-based compensation expense, net of tax |  | $ | 8,014 |  |  | $ | 6,877 |  |  | $ | 4,514 |
___________________ (1) Reflects a $1.2 million benefit in 2014 related to a change in estimated forfeitures due to employee turnover.
Stock options rollforward | A summary of our stock option activity was as follows (in thousands, except per share amounts and years):
|  | Stock Options |  | Weighted- Average Exercise Price per Share |  | Weighted- Average Remaining Contractual Term (years) |  | Aggregate Intrinsic Value (1)
Balance at January 2, 2016 |  | 1,388 |  |  | $ | 18.44 |  |  | 5.3 |  | $ | 7,366 |
Granted |  | 299 |  |  | 19.19 |  |  |  |  |  |
Exercised |  | (188 | ) |  | 12.21 |  |  |  |  |  |
Canceled/Forfeited |  | (145 | ) |  | 25.71 |  |  |  |  |  |
Outstanding at December 31, 2016 |  | 1,354 |  |  | $ | 18.70 |  |  | 5.9 |  | $ | 7,541 |
Exercisable at December 31, 2016 |  | 927 |  |  | $ | 17.40 |  |  | 4.6 |  | $ | 6,264 |
Vested and expected to vest at December 31, 2016 |  | 1,315 |  |  | $ | 18.61 |  |  | 5.9 |  | $ | 7,442 |
___________________
(1) | Aggregate intrinsic value includes only those options where the current share price is equal to or greater than the share price on the date of grant.
Stock options - other information | Other information pertaining to options was as follows (in thousands, except per share amounts):
|  | 2016 |  | 2015 |  | 2014
Weighted-average grant date fair value of stock options granted |  | $ | 8.85 |  |  | $ | 15.94 |  |  | $ | 9.33 |
Total intrinsic value (at exercise) of stock options exercised |  | $ | 2,088 |  |  | $ | 4,592 |  |  | $ | 2,478 |
Stock options - valuation assumptions | The assumptions used to calculate the fair value of options granted using the Black-Scholes-Merton option-pricing model were as follows:
Valuation Assumptions |  | 2016 |  | 2015 |  | 2014
Expected dividend yield |  | 0 | % |  | 0 | % |  | 0 | %
Expected volatility |  | 50 | % |  | 54 | % |  | 58 | %
Risk-free interest rate |  | 1.4 | % |  | 1.6 | % |  | 1.8 | %
Expected term (in years) |  | 5.2 |  |  | 5.2 |  |  | 5.3 |
Stock awards rollforward | Stock award activity was as follows (in thousands, except per share amounts):
|  | Time- Based Stock Awards |  | Weighted-Average Grant Date Fair Value |  | Performance- and Market-Based Stock Awards |  | Weighted-Average Grant Date Fair Value
Outstanding at January 2, 2016 |  | 454 |  |  | $23.14 |  | 710 |  |  | $22.01
Granted |  | 289 |  |  | 19.78 |  |  | 347 |  |  | 18.84 |
Vested |  | (189 | ) |  | 24.55 |  |  | (52 | ) |  | 24.57 |
Canceled/Forfeited |  | (24 | ) |  | 21.34 |  |  | (106 | ) |  | 20.24 |
Outstanding at December 31, 2016 |  | 530 |  |  | $20.83 |  | 899 |  |  | $20.87
Stock awards - valuation assumptions | The assumptions used to calculate the fair value of market-based stock awards granted using the Monte Carlo simulation model were as follows:
Valuation Assumptions |  | 2016 |  | 2015 |  | 2014
Expected dividend yield |  | NA |  | NA |  | 0%
Expected volatility |  | NA |  | NA |  | 58%
Risk-free interest rate |  | NA |  | NA |  | 0.9%
Share Repurchase | Repurchases of our common stock were as follows (in thousands):
|  | 2016 |  | 2015 |  | 2014
Amount repurchased under Board-approved share repurchase program |  | $ | 125,000 |  |  | $ | 98,446 |  |  | $ | 45,044 |
Amount repurchased in connection with the vesting of employee restricted stock grants |  | 1,693 |  |  | 1,755 |  |  | 1,448 |
Total amount repurchased |  | $ | 126,693 |  |  | $ | 100,201 |  |  | $ | 46,492 |
Schedule of Earnings Per Share Reconciliation | The components of basic and diluted net income per share were as follows (in thousands, except per share amounts):
| 2016 |  | 2015 |  | 2014
Net income | $ | 51,417 |  |  | $ | 50,519 |  |  | $ | 67,974 |
Reconciliation of weighted-average shares outstanding: |  |  |  |  |  |  |
Basic weighted-average shares outstanding | 46,154 |  |  | 51,252 |  |  | 53,452 |
Dilutive effect of stock-based awards | 748 |  |  | 849 |  |  | 741 |
Diluted weighted-average shares outstanding | 46,902 |  |  | 52,101 |  |  | 54,193 |
Net income per share – basic | $ | 1.11 |  |  | $ | 0.99 |  |  | $ | 1.27 |
Net income per share – diluted | $ | 1.10 |  |  | $ | 0.97 |  |  | $ | 1.25 |

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