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Shareholders’ Deficit | 12 Months Ended
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Dec. 28, 2019
Shareholders Equity [Abstract] |
Shareholders’ Deficit | (8) Shareholders’ Deficit Stock-Based Compensation Expense Total stock-based compensation expense was as follows (in thousands):
|  | 2019 |  |  | 2018 |  |  | 2017 |
Stock awards |  | $ | 14,265 |  |  | $ | 8,930 |  |  | $ | 13,419 |
Stock options |  |  | 2,392 |  |  |  | 2,482 |  |  |  | 2,344 |
Total stock-based compensation expense(1) |  |  | 16,657 |  |  |  | 11,412 |  |  |  | 15,763 |
Income tax benefit |  |  | 3,998 |  |  |  | 2,750 |  |  |  | 5,249 |
Total stock-based compensation expense, net of tax |  | $ | 12,659 |  |  | $ | 8,662 |  |  | $ | 10,514 |
(1) | Decrease in 2018 stock-based compensation expense reflects the cumulative impact of the change in the expected achievements of certain performance targets.
Stock Options 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 29, 2018 |  |  | 1,322 |  |  | $ | 22.64 |  |  |  | 5.9 |  |  | $ | 13,009 |
Granted |  |  | 141 |  |  |  | 45.27 |  |  |  |  |  |  |  |  |
Exercised |  |  | (381 | ) |  |  | 18.88 |  |  |  |  |  |  |  |  |
Canceled/Forfeited |  |  | (14 | ) |  |  | 30.13 |  |  |  |  |  |  |  |  |
Outstanding at December 28, 2019 |  |  | 1,068 |  |  | $ | 26.87 |  |  |  | 6.0 |  |  | $ | 24,274 |
Exercisable at December 28, 2019 |  |  | 772 |  |  | $ | 22.88 |  |  |  | 5.1 |  |  | $ | 20,612 |
Vested and expected to vest at December 28, 2019 |  |  | 1,046 |  |  | $ | 26.70 |  |  |  | 6.0 |  |  | $ | 23,940 |
(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.
Other information pertaining to options was as follows (in thousands, except per share amounts):
|  | 2019 |  |  | 2018 |  |  | 2017 |
Weighted-average grant date fair value of stock options granted |  | $ | 18.97 |  |  | $ | 13.96 |  |  | $ | 10.33 |
Total intrinsic value (at exercise) of stock options exercised |  | $ | 9,636 |  |  | $ | 3,459 |  |  | $ | 3,586 |
Cash received from the exercise of stock options for the fiscal year ended December 28, 2019 was $7.2 million. Our tax benefit related to the exercise of stock options for the fiscal year ended December 28, 2019 was $2.4 million. At December 28, 2019, there was $2.9 million of total stock option compensation expense related to non-vested stock options not yet recognized, which is expected to be recognized over a weighted-average period of 1.8 years. The assumptions used to calculate the fair value of options granted using the Black-Scholes-Merton option-pricing model were as follows:
Valuation Assumptions |  | 2019 |  |  | 2018 |  |  | 2017 |
Expected dividend yield |  |  | 0 | % |  |  | 0 | % |  |  | 0 | %
Expected volatility |  |  | 43 | % |  |  | 43 | % |  |  | 46 | %
Risk-free interest rate |  |  | 2.2 | % |  |  | 2.7 | % |  |  | 2.0 | %
Expected term (in years) |  |  | 5.4 |  |  |  | 5.0 |  |  |  | 5.1 |
Stock Awards 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 29, 2018 |  |  | 383 |  |  | $ | 28.66 |  |  |  | 1,061 |  |  | $ | 23.91 |
Granted |  |  | 172 |  |  |  | 44.60 |  |  |  | 168 |  |  |  | 46.70 |
Vested |  |  | (192 | ) |  |  | 25.91 |  |  |  | (304 | ) |  |  | 19.50 |
Canceled/Forfeited |  |  | (33 | ) |  |  | 35.26 |  |  |  | (333 | ) |  |  | 22.75 |
Outstanding at December 28, 2019 |  |  | 330 |  |  | $ | 38.09 |  |  |  | 592 |  |  | $ | 33.30 |
At December 28, 2019, there was $7.8 million of unrecognized compensation expense related to non-vested time-based stock awards, which is expected to be recognized over a weighted-average period of 1.9 years, and $12.3 million of unrecognized compensation expense related to non-vested performance-based and market-based stock awards, which is expected to be recognized over a weighted-average period of 1.9 years. During 2018, 5,027 performance-based stock awards with a market condition were granted and had a weighted-average grant date fair value of $35.97 per award. These stock awards are reflected in the "Performance- and Market-Based Stock Awards" column in the stock award activity table above. During 2017, 270,895 performance-based stock awards with a market condition were granted and had a weighted-average grant date fair value of $22.40 per award. There were no performance-based stock awards with a market condition issued in 2019. The assumptions used to calculate the fair value of the 2018 and 2017 performance-based stock awards with a market condition, using the Monte Carlo simulation model, were as follows:
Valuation Assumptions |  | 2019 |  | 2018 |  |  | 2017 |
Expected dividend yield |  | NA |  |  | 0 | % |  |  | 0 | %
Expected volatility |  | NA |  |  | 43 | % |  |  | 46 | %
Risk-free interest rate |  | NA |  |  | 2.6 | % |  |  | 1.5 | %
Repurchases of Common Stock Repurchases of our common stock were as follows (in thousands):
|  | 2019 |  |  | 2018 |  |  | 2017 |
Amount repurchased under Board-approved share repurchase program |  | $ | 145,900 |  |  | $ | 279,101 |  |  | $ | 150,000 |
Amount repurchased in connection with the vesting of employee restricted stock grants |  |  | 9,673 |  |  |  | 3,344 |  |  |  | 5,245 |
Total amount repurchased (based on trade dates) |  | $ | 155,573 |  |  | $ | 282,445 |  |  | $ | 155,245 |
As of December 28, 2019, the remaining authorization under our Board-approved share repurchase program was $475 million. Net Income per Common Share The components of basic and diluted net income per share were as follows (in thousands, except per share amounts):
|  | 2019 |  |  | 2018 |  |  | 2017 |
Net income |  | $ | 81,845 |  |  | $ | 69,539 |  |  | $ | 65,077 |
Reconciliation of weighted-average shares outstanding: |  |  |  |  |  |  |  |  |  |  |  |
Basic weighted-average shares outstanding |  |  | 29,472 |  |  |  | 35,256 |  |  |  | 41,212 |
Dilutive effect of stock-based awards |  |  | 883 |  |  |  | 909 |  |  |  | 873 |
Diluted weighted-average shares outstanding |  |  | 30,355 |  |  |  | 36,165 |  |  |  | 42,085 |
Net income per share – basic |  | $ | 2.78 |  |  | $ | 1.97 |  |  | $ | 1.58 |
Net income per share – diluted |  | $ | 2.70 |  |  | $ | 1.92 |  |  | $ | 1.55 |
Additional potential dilutive stock options totaling 0.2 million, 0.2 million and 0.4 million for 2019, 2018 and 2017, respectively, have been excluded from our diluted net income per share calculations because these securities’ exercise prices were anti-dilutive (e.g., greater than the average market price of our common stock).

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- Definition The entire disclosure related to shareholders' deficit, including stock compensation plans, earnings per share and repurchase of common stock. + References No definition available. + Details
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- Definition Shareholders' Equity [Abstract] + References No definition available. + Details
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