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Stock-Based Compensation Expense (Tables)
 6 Months Ended
Jun. 30, 2013
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]  
Summary of Stock Option Activity

The following table summarizes the Company’s stock option activity for the six-month period ended June 30, 2013:

 

    Shares
(in  thousands)		     Weighted-
Average
Exercise
Price		     Weighted-
Average
Remaining
Contractual
Term
(in years)		     Aggregate
Intrinsic
Value
(in thousands)		  

Outstanding as of December 31, 2012

     3,559      $ 25.56       

Granted

     823        42.12       

Exercised

     (710 )      22.88       

Forfeited or expired

     (122 )      32.53       
 

 

 

        

Outstanding as of June 30, 2013

     3,550      $ 29.70        7.4      $ 55,132   
 

 

 

    

 

 

    

 

 

    

 

 

  

Exercisable as of June 30, 2013

     1,309      $ 23.03        5.8      $ 29,075   
 

 

 

    

 

 

    

 

 

    

 

 

  

Options vested or expected to vest at June 30, 2013 (1)

     3,139      $ 28.93        7.3      $ 51,172   
 

 

 

    

 

 

    

 

 

    

 

 

  

 

(1) In addition to the vested options, the Company expects a portion of the unvested options to vest at some point in the future. Options expected to vest are calculated by applying an estimated forfeiture rate to the unvested options.
Weighted-Average Assumptions Used in Estimating Fair Values of Stock Options Granted

The fair values of stock options granted in each period presented were estimated using the following weighted-average assumptions:

 

     Three-months Ended     Six-months Ended  
     June 30,
2013		     July 1,
2012		     June 30,
2013		     July 1,
2012		  

Risk-free rate

      2.0 %      2.0 %      2.0 %      2.0 % 

Expected dividend yield

      0 %      1.2 %      0 %      1.2 % 

Expected volatility

      42 %      44 %      42 %      44 % 

Expected term (in years)

      5.9        5.7        5.9        5.7   
Stock-Based Compensation Expense

The following table details the stock-based compensation expense by caption for each period presented on the Consolidated Statements of Operations (in thousands):

 

     Three-months Ended      Six-months Ended  
     June 30,
2013		      July 1,
2012		      June 30,
2013		      July 1,
2012		  

Product cost of revenue

    $ 177       $ 135       $ 404       $ 375   

Service cost of revenue

      47         40         110         108   

Research, development, and engineering

      650         483         1,463         1,350   

Selling, general, and administrative

      1,907         1,331         4,102         3,470   
  

 

 

     

 

 

     

 

 

     

 

 

  
   $ 2,781       $ 1,989       $ 6,079       $ 5,303