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Shareholders' Equity (Tables) | 12 Months Ended
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Dec. 30, 2017
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):
|  | 2017 |  | 2016 |  | 2015
Stock options |  | $ | 2,344 |  |  | $ | 2,281 |  |  | $ | 2,634 |
Stock awards |  | 13,419 |  |  | 9,680 |  |  | 7,656 |
Total stock-based compensation expense |  | 15,763 |  |  | 11,961 |  |  | 10,290 |
Income tax benefit |  | 5,249 |  |  | 3,947 |  |  | 3,413 |
Total stock-based compensation expense, net of tax |  | $ | 10,514 |  |  | $ | 8,014 |  |  | $ | 6,877 |
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 December 31, 2016 |  | 1,354 |  |  | $ | 18.70 |  |  | 5.9 |  | $ | 7,541 |
Granted |  | 262 |  |  | 24.26 |  |  |  |  |  |
Exercised |  | (222 | ) |  | 14.58 |  |  |  |  |  |
Canceled/Forfeited |  | (39 | ) |  | 26.17 |  |  |  |  |  |
Outstanding at December 30, 2017 |  | 1,355 |  |  | $ | 20.23 |  |  | 6.2 |  | $ | 23,515 |
Exercisable at December 30, 2017 |  | 879 |  |  | $ | 18.79 |  |  | 4.8 |  | $ | 16,533 |
Vested and expected to vest at December 30, 2017 |  | 1,321 |  |  | $ | 20.16 |  |  | 6.1 |  | $ | 23,023 |
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(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):
|  | 2017 |  | 2016 |  | 2015
Weighted-average grant date fair value of stock options granted |  | $ | 10.33 |  |  | $ | 8.85 |  |  | $ | 15.94 |
Total intrinsic value (at exercise) of stock options exercised |  | $ | 3,586 |  |  | $ | 2,088 |  |  | $ | 4,592 |
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 |  | 2017 |  | 2016 |  | 2015
Expected dividend yield |  | 0 | % |  | 0 | % |  | 0 | %
Expected volatility |  | 46 | % |  | 50 | % |  | 54 | %
Risk-free interest rate |  | 2.0 | % |  | 1.4 | % |  | 1.6 | %
Expected term (in years) |  | 5.1 |  |  | 5.2 |  |  | 5.2 |
The assumptions used to calculate the fair value of market-based stock options granted using the Monte Carlo simulation model were as follows:
Valuation Assumptions |  | 2017 |  | 2016 |  | 2015
Expected dividend yield |  | NA |  | 0 | % |  | NA
Expected volatility |  | NA |  | 50 | % |  | NA
Risk-free interest rate |  | NA |  | 1.8 | % |  | NA
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 December 31, 2016 |  | 530 |  |  | $20.83 |  | 899 |  |  | $20.87
Granted |  | 217 |  |  | 25.81 |  |  | 568 |  |  | 23.03 |
Vested |  | (312 | ) |  | 20.35 |  |  | (338 | ) |  | 16.73 |
Canceled/Forfeited |  | (40 | ) |  | 22.47 |  |  | (66 | ) |  | 19.88 |
Outstanding at December 30, 2017 |  | 395 |  |  | $23.77 |  | 1,063 |  |  | $23.41
Stock awards - valuation assumptions | The assumptions used to calculate the fair value of the 2017 performance-base stock awards with a market condition, using the Monte Carlo simulation model, were as follows:
Valuation Assumptions |  | 2017 |  | 2016 |  | 2015
Expected dividend yield |  | 0% |  | NA |  | NA
Expected volatility |  | 46% |  | NA |  | NA
Risk-free interest rate |  | 1.5% |  | NA |  | NA
Share Repurchase | Repurchases of our common stock were as follows (in thousands):
|  | 2017 |  | 2016 |  | 2015
Amount repurchased under Board-approved share repurchase program |  | $ | 150,000 |  |  | $ | 125,000 |  |  | $ | 98,446 |
Amount repurchased in connection with the vesting of employee restricted stock grants |  | 5,245 |  |  | 1,693 |  |  | 1,755 |
Total amount repurchased |  | $ | 155,245 |  |  | $ | 126,693 |  |  | $ | 100,201 |
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):
| 2017 |  | 2016 |  | 2015
Net income | $ | 65,077 |  |  | $ | 51,417 |  |  | $ | 50,519 |
Reconciliation of weighted-average shares outstanding: |  |  |  |  |  |  |
Basic weighted-average shares outstanding | 41,212 |  |  | 46,154 |  |  | 51,252 |
Dilutive effect of stock-based awards | 873 |  |  | 748 |  |  | 849 |
Diluted weighted-average shares outstanding | 42,085 |  |  | 46,902 |  |  | 52,101 |
Net income per share – basic | $ | 1.58 |  |  | $ | 1.11 |  |  | $ | 0.99 |
Net income per share – diluted | $ | 1.55 |  |  | $ | 1.10 |  |  | $ | 0.97 |

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