XML 45 R28.htm IDEA: XBRL DOCUMENT
v3.20.4

Shareholders' Deficit (Tables) | 12 Months Ended
--- | ---
Jan. 02, 2021
Share-based Payment Arrangement [Abstract] |
Schedule of Stock-Based Compensation Expense | Total stock-based compensation expense was as follows (in thousands):
| 2020 |  | 2019 |  | 2018
Stock awards | $ | 19,435 |  |  | $ | 14,265 |  |  | $ | 8,930 |
Stock options | 2,378 |  |  | 2,392 |  |  | 2,482 |
Total stock-based compensation expense(1) | 21,813 |  |  | 16,657 |  |  | 11,412 |
Income tax benefit | 5,126 |  |  | 3,998 |  |  | 2,750 |
Total stock-based compensation expense, net of tax | $ | 16,687 |  |  | $ | 12,659 |  |  | $ | 8,662 |
___________________ (1) Changes in annual stock-based compensation expense reflects the cumulative impact of the change in the expected achievements of certain performance targets.
Summary of Stock Option Activity | 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)
Outstanding at December 28, 2019 | 1,068 |  |  | $ | 26.87 |  |  | 6.0 |  | $ | 24,274 |
Granted | 184 |  |  | 36.11 |  |  |  |  |
Exercised | (420) |  |  | 22.87 |  |  |  |  |
Canceled/Forfeited | (19) |  |  | 38.78 |  |  |  |  |
Outstanding at January 2, 2021 | 813 |  |  | $ | 30.74 |  |  | 6.5 |  | $ | 41,568 |
Exercisable at January 2, 2021 | 520 |  |  | $ | 26.27 |  |  | 5.3 |  | $ | 28,913 |
Vested and expected to vest at January 2, 2021 | 790 |  |  | $ | 30.53 |  |  | 6.4 |  | $ | 40,553 |
___________________ (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 | Other information pertaining to options was as follows (in thousands, except per share amounts):
| 2020 |  | 2019 |  | 2018
Weighted-average grant date fair value of stock options granted | $ | 15.10 |  |  | $ | 18.97 |  |  | $ | 13.96 |
Total intrinsic value (at exercise) of stock options exercised | $ | 14,357 |  |  | $ | 9,636 |  |  | $ | 3,459 |
Assumptions Used to Calculate Fair Value of Options Granted Using Black-Scholes-Merton Option-Pricing Model | The assumptions used to calculate the fair value of options granted using the Black-Scholes-Merton option-pricing model were as follows:
Valuation Assumptions | 2020 |  | 2019 |  | 2018
Expected dividend yield | 0.0 | % |  | 0.0 | % |  | 0.0 | %
Expected volatility | 46 | % |  | 43 | % |  | 43 | %
Risk-free interest rate | 0.7 | % |  | 2.2 | % |  | 2.7 | %
Expected term (years) | 5.4 |  | 5.4 |  | 5.0
Stock Award Activity | Stock award activity was as follows (in thousands, except per share amounts):
| Time- Based Stock Awards |  | Weighted-Average Grant Date Fair Value |  | Performance- Based Stock Awards |  | Weighted-Average Grant Date Fair Value
Outstanding at December 28, 2019 | 330 |  |  | $ | 38.09 |  |  | 592 |  |  | $ | 33.30 |
Granted | 309 |  |  | 30.80 |  |  | 291 |  |  | 32.28 |
Vested | (297) |  |  | 29.55 |  |  | (326) |  |  | 23.66 |
Canceled/Forfeited | (40) |  |  | 37.08 |  |  | (37) |  |  | 25.91 |
Outstanding at January 2, 2021 | 302 |  |  | $ | 38.96 |  |  | 520 |  |  | $ | 38.52 |
Assumptions Used to Calculate Fair Value of Performance-based Stock Awards Using Monte Carlo Simulation Model |
Valuation Assumptions | 2018
Expected dividend yield | 0 | %
Expected volatility | 43 | %
Risk-free interest rate | 2.6 | %
Schedule of Repurchase of Common Stock | Repurchases of our common stock were as follows (in thousands):
| 2020 |  | 2019 |  | 2018
Amount repurchased under Board-approved share repurchase program | $ | 228,111 |  |  | $ | 145,900 |  |  | $ | 279,101 |
Amount repurchased in connection with the vesting of employee restricted stock grants | 7,040 |  |  | 9,673 |  |  | 3,344 |
Total amount repurchased (based on trade dates) | $ | 235,151 |  |  | $ | 155,573 |  |  | $ | 282,445 |
Net Income per Common Share | The components of basic and diluted net income per share were as follows (in thousands, except per share amounts):
| 2020 |  | 2019 |  | 2018
Net income | $ | 139,189 |  |  | $ | 81,845 |  |  | $ | 69,539 |
Reconciliation of weighted-average shares outstanding: |  |  |  |  |
Basic weighted-average shares outstanding | 27,665 |  |  | 29,472 |  |  | 35,256 |
Dilutive effect of stock-based awards | 763 |  |  | 883 |  |  | 909 |
Diluted weighted-average shares outstanding | 28,428 |  |  | 30,355 |  |  | 36,165 |
Net income per share – basic | $ | 5.03 |  |  | $ | 2.78 |  |  | $ | 1.97 |
Net income per share – diluted | $ | 4.90 |  |  | $ | 2.70 |  |  | $ | 1.92 |

X
- Definition Tabular disclosure Of Additional Information Related to Stock Options + References No definition available. + Details
Name: | snbr_ScheduleOfAdditionalInformationRelatedToStockOptionTextBlock
Namespace Prefix: | snbr_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the number and weighted-average grant date fair value for time-based stock awards and performance stock awards that were outstanding at the beginning and end of the year, and the number of time-based stock awards and performance stock awards that were granted, vested, or forfeited during the year. + References No definition available. + Details
Name: | snbr_ScheduleOfShareBasedCompensationStockAndPerformanceStockAwardActivityTableTableTextBlock
Namespace Prefix: | snbr_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the significant assumptions used during the year to estimate the fair value of stock awards, including, but not limited to,: (1) expected dividend yield; (2) expected volatility; and (3) risk-free interest rate. + References No definition available. + Details
Name: | snbr_ScheduleOfShareBasedPaymentAwardStockAwardValuationAssumptionsTableTextBlock
Namespace Prefix: | snbr_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Share Repurchases [Table Text Block] + References No definition available. + Details
Name: | snbr_ShareRepurchasesTableTextBlock
Namespace Prefix: | snbr_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of cost recognized for award under share-based payment arrangement by plan. Includes, but is not limited to, related tax benefit. + 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 http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 + Details
Name: | us-gaap_ScheduleOfCompensationCostForShareBasedPaymentArrangementsAllocationOfShareBasedCompensationCostsByPlanTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of an entity's basic and diluted earnings per share calculations, including a reconciliation of numerators and denominators of the basic and diluted per-share computations for income from continuing operations. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257 + Details
Name: | us-gaap_ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- 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 http://asc.fasb.org/extlink&oid=120381028&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 http://asc.fasb.org/extlink&oid=120381028&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 http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 + Details
Name: | us-gaap_ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- 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 http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 + Details
Name: | us-gaap_ScheduleOfShareBasedPaymentAwardStockOptionsValuationAssumptionsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration