Stock Plans and Stock-Based Compensation (Tables)

9 Months Ended

Sep. 28, 2013

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Schedule of Stock-Based Compensation Expense

The following table presents stock-based compensation included in our consolidated statement of income:

	Three Months Ended						Nine Months Ended
	September 28, 2013			September 29, 2012			September 28, 2013			September 29, 2012
Stock-based compensation expense included in:
Cost of sales	$	1,332		$	1,271		$	4,051		$	3,995
Selling, general and administration	4,715			3,970			14,181			11,833
Stock-based compensation, before income taxes	6,047			5,241			18,232			15,828
Provision for income taxes	(2,103		)	(1,847		)	(6,422		)	(5,615		)
Stock-based compensation, net of tax	$	3,944		$	3,394		$	11,810		$	10,213

Schedule of Weighted-Average Assumptions

The fair value of stock-based awards granted during the first nine months of 2013 and 2012 was estimated on the grant date using the Black-Scholes option-pricing model with the following weighted-average assumptions:

	September 28, 2013			September 29, 2012
Expected life (in years)	4.2 years			4.5 years
Expected volatility	32.7		%	34.9		%
Risk-free interest rate	0.80		%	0.84		%
Expected dividend yield	0		%	0		%
Weighted-average grant date fair value	$	11.17		$	10.94

Summary of Stock Option Activity in Equity Incentive Plans

The following table summarizes stock option activities under our plans:

	Shares		Weighted Average Exercise Price		Weighted Average Remaining Contractual Life (in years)	Aggregate Intrinsic Value
Options outstanding as of December 29, 2012	5,860,403		$	39.11
Options granted	593,499		$	40.54
Options exercised	(1,729,768	)	$	34.06
Options canceled	(105,040	)	$	45.68
Options outstanding as of September 28, 2013	4,619,094		$	41.04	3.25 years	$	30,997
Options exercisable as of September 28, 2013	3,022,605		$	42.52	2.00 years	$	18,186

Summary of Restricted Stock Activity

The following table summarizes the restricted stock activity for the nine months ended September 28, 2013:

	Restricted Stock		Weighted Average Grant Date Fair Value
Outstanding as of December 29, 2012	934,505		$	35.83
Granted	565,699		40.52
Vested	(371,458	)	40.37
Canceled	(21,433	)	43.75
Outstanding as of September 28, 2013	1,107,313		$	36.55