Share-Based Compensation, Common Stock Issuances and Common Stock (Tables)

12 Months Ended

Jan. 01, 2022

Share-based Payment Arrangement [Abstract]

Weighted-Average Assumptions for Options Granted

The weighted-average assumptions for Options granted in fiscal years 2021, 2020 and 2019 are included in the following table:

	2021		2020		2019
Expected volatility	53.0	%	29.3	%	23.7	%
Expected dividends	—		—		—
Risk-free interest rate	1.1	%	0.5	%	2.3	%
Expected term (in years)	6.1		6.1		5.6

Summary of Options Outstanding

The summary of Options outstanding and changes during fiscal year 2021 are presented below:

	Time Options	Performance Options	Total Options	Weighted- Average Fair Value		Weighted- Average Exercise Price		Weighted- Average Remaining Contractual Years
Outstanding as of January 2, 2021	5,126,908	358,829	5,485,737	$	6.85	$	21.10
Granted	966,251	—	966,251	$	18.59	$	36.85
Exercised	(709,819)	(91,843)	(801,662)	$	6.65	$	19.97
Forfeited	(199,168)	(3,343)	(202,511)	$	6.77	$	19.03
Outstanding as of January 1, 2022	5,184,172	263,643	5,447,815	$	8.96	$	24.14	7.2
Vested and exercisable as of January 1, 2022	2,426,951	263,643	2,690,594	$	8.50	$	25.05	5.9

Schedule of Nonvested Restricted Share Awards Activity

The summary of unvested RSAs and changes during fiscal year 2021 is presented below: 

	Time-Based RSAs	Performance RSAs	Total RSAs	Weighted- Average Fair Value
Unvested as of January 2, 2021	77,811	462,874	540,685	$	34.14
Granted	—	—	—	$	—
Vested	(38,902)	(32,356)	(71,258)	$	34.11
Forfeited	(3,216)	(19,292)	(22,508)	$	—
Performance adjustment(1)	—	(197,092)	(197,092)	$	33.56
Unvested as of January 1, 2022	35,693	214,134	249,827	$	34.56

(1)Represents an adjustment to the 2018 Performance RSAs based on the actual performance during the three-year performance period.

Summary of Nonvested Restricted Shares Units

A summary of RSUs outstanding and changes during fiscal year 2021 is presented below.

	Time-Based RSUs	Performance RSUs	Market Performance RSUs	Total RSUs	Weighted- Average Fair Value
Unvested as of January 2, 2021	2,692,450	209,737	—	2,902,187	$	18.16
Granted	857,273	—	357,755	1,215,028	$	37.74
Vested	(1,058,863)	(27,423)	—	(1,086,286)	$	19.46
Forfeited	(185,564)	(6,648)	(7,612)	(199,824)	$	22.05
Performance adjustment(1)	—	(69,603)	—	(69,603)	$	33.56
Unvested as of January 1, 2022	2,305,296	106,063	350,143	2,761,502	$	25.60

(1) Represents an adjustment to the 2018 Performance RSUs based on actual performance during the respective three-year performance period.