Stock Plans (Tables)

6 Months Ended

Jun. 29, 2014

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

Summary of Total Compensation Recognized Related to Outstanding Equity Awards

The following table summarizes total pre-tax compensation expense recognized related to the Company’s stock options, restricted stock, restricted stock units, performance units and stock grants, net of estimated forfeitures, included in the Company’s condensed consolidated statements of operations for the three and six months ended June 29, 2014 and June 30, 2013:

	Three Months Ended				Six Months Ended
	June 29, 2014		June 30, 2013		June 29, 2014		June 30, 2013
	(In thousands)
Cost of product and service revenue	$	337	$	307	$	671	$	620
Research and development expenses	220		211		360		426
Selling, general and administrative expenses	4,246		2,708		8,288		6,596
Total stock-based compensation expense	$	4,803	$	3,226	$	9,319	$	7,642

Weighted-Average Assumptions Used in the Black-Scholes Option Pricing Model

The Company’s weighted-average assumptions used in the Black-Scholes option pricing model were as follows:

	Three and Six Months Ended
	June 29, 2014		June 30, 2013
Risk-free interest rate	1.5	%	0.9	%
Expected dividend yield	0.7	%	0.8	%
Expected lives	5 years		5 years
Expected stock volatility	30.9	%	38.5	%

Summary of Stock Option Activity

The following table summarizes stock option activity for the six months ended June 29, 2014:

	Number of Shares		Weighted- Average Price		Weighted-Average Remaining Contractual Term	Total Intrinsic Value
	(In thousands)				(In years)	(In millions)
Outstanding at December 29, 2013	3,494		$	23.34
Granted	511		43.06
Exercised	(814	)	23.89
Canceled	(4	)	20.97
Forfeited	(44	)	33.70
Outstanding at June 29, 2014	3,143		$	26.26	3.9	$	58.5
Exercisable at June 29, 2014	2,108		$	21.40	2.9	$	49.5
Vested and expected to vest in the future	3,099		$	26.15	3.9	$	58.0

Summary of Restricted Stock Award Activity

The following table summarizes restricted stock award activity for the six months ended June 29, 2014:

	Number of Shares		Weighted- Average Grant- Date Fair Value
	(In thousands)
Nonvested at December 29, 2013	649		$	29.24
Granted	235		42.61
Vested	(254	)	27.65
Forfeited	(38	)	33.12
Nonvested at June 29, 2014	592		$	34.98