Share-Based Compensation (Tables)

12 Months Ended

Jan. 29, 2017

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Summary of allocation of stock-based compensation

The following table summarizes pre-tax share-based compensation included in the Consolidated Statements of Income for fiscal years 2017, 2016 and 2015:

	Fiscal Year Ended
(in thousands)	January 29, 2017		January 31, 2016			January 25, 2015
Revenue offset	$	5,396	$	—		$	—
Cost of sales	1,591		1,555			1,621
Selling, general and administrative	18,019		10,055			17,387
Product development and engineering	5,822		8,858			10,621
Share-based compensation	$	30,828	$	20,468		$	29,629
Net change in share-based compensation capitalized into inventory	$	38	$	(98	)	$	111

Summary of fair value assumptions

The following table summarizes the assumptions used in the Black-Scholes model to determine the fair value of stock options granted in fiscal years 2017, 2016 and 2015:

	Fiscal Year Ended
	January 29, 2017	January 31, 2016	January 25, 2015
Expected lives, in years	4.1 - 4.5	4.2 - 4.3	3.0 - 4.4
Estimated volatility	31% - 32%	29% - 32%	33% - 40%
Dividend yield	—	—	—
Risk-free interest rate	1.04% - 1.51%	1.24% - 1.49%	0.74% - 1.47%
Weighted average fair value on grant date	$5.71	$6.08	$7.18

Summary of the activity for stock option awards

The following table summarizes the activity for stock options for fiscal years 2017:

(in thousands, except for per share amounts)	Number of Shares		Weighted Average Exercise Price (per share)		Aggregate Intrinsic Value (1)		Number of Shares Exercisable	Weighted Average Contractual Term (years)
Balance at January 31, 2016	1,507		25.18		962		775
Options granted	365		20.71
Options exercised	(258	)	22.30		1,723
Options cancelled/forfeited	(103	)	22.30
Balance at January 29, 2017	1,511		$	24.79	$	13,503	759
Exercisable at January 30, 2017	759		$	26.90	$	5,210		2.4
Vested and expected to vest after January 30, 2017	1,431		$	24.95	$	12,598		3.4

Summary of unvested stock option awards

The following table summarizes information regarding unvested stock option awards at January 29, 2017:

(in thousands, except for per share amounts)	Number of Shares		Weighted Average Exercise Price (per share)		Weighted Average Grant Date Fair Value (per share)		Weighted Average Remaining Expense Period (years)
Balance at January 31, 2016	729		24.84		7.00		2.2
Options granted	364		20.71		5.71
Options vested	(285	)	26.34		7.69
Options forfeited	(59	)	19.99		5.64
Balance at January 29, 2017	749		$	22.66	$	6.29	2.0

Summary of the activity for performance unit awards

The following table summarizes the activity for performance-based restricted stock units for fiscal years 2017 and 2016:

			Subject to Share Settlement		Subject to Cash Settlement				Weighted  Average Grant Date		Aggregate		Period Over Which Expected
(in thousands, except for per share amounts)	Total Units		Units		Units		Recorded Liability		Fair Value (per share)		Unrecognized Compensation		to be Recognized (in years)
Balance at January 31, 2016	384		203		181		237		26.57		1,925		1.5
Performance units granted	231		116		115				17.51
Performance units vested	—		—		—		—		—
Performance units cancelled/forfeited	(232	)	(124	)	(108	)			24.63
Change in liability			—				1,440
Balance at January 29, 2017	383		195		188		$	1,677	$	22.31	$	8,105	1.6

Summary of fair value assumptions - market performance units

The following tables summarize the assumptions used in the Monte Carlo simulation model to determine the fair value of restricted stock units granted in fiscal year 2015 for both Tranche 1 and Tranche 2.

	January 25, 2015
	Tranche 1	Tranche 2
Expected life, in years	1.6	2.1
Estimated volatility	34%	34%
Dividend yield	—%	—%
Risk-free interest rate	1.5%	1.5%
Weighted average fair value on grant date	$17.26	$14.88

Summary of activity for market performance units

The following table summarizes the activity for the market performance restricted stock units for the fiscal year ended January 29, 2017:

(in thousands, except for per share amounts)	Total Units	Weighted Average Grant Date Fair Value (per unit)		Aggregate Unrecognized Compensation		Weighted Average Period Over Which Expected to be Recognized (in years)
Balance at January 31, 2016	220	$	15.59	$	143	0.1
Market performance units granted	—	—
Market performance units vested	—	—
Market performance units cancelled/forfeited	—	—
Balance at January 29, 2017	220	$	15.59	$	—	0.0

Summary of stock unit grants

The Company grants restricted stock units to employees which are expected to be settled with shares of the Company's common stock. The grant date for these awards is equal to the measurement date. These awards are valued as of the measurement date and recognized as an expense over the requisite vesting period (typically 4 years).

(in thousands, except for per share amounts)	Restricted Stock Units, Stock Grants, and Stock Units			Performance Shares (1)
	2017	2016	2015	2017	2016	2015
Units granted	1,228	1,032	929	231	235	256
Weighted-average grant date fair value	22.12	20.79	23.90	17.51	28.60	24.74

(1) Restricted stock units granted includes awards that will be cash settled of 115,500 in fiscal year 2017, 90,500 in fiscal year 2016, and 128,016 in fiscal year 2015.

Summary of the status of non-vested awards and changes during the year

The following table is a summary of the status of non-vested restricted stock unit awards as of January 29, 2017 and changes during the year.

	Restricted Stock Units, Stock Grants, and Stock Units				Performance Shares (1)
(in thousands, except for per share amounts)	Shares		Weighted Average Grant Date Fair Value (per unit)		Shares		Weighted Average Grant Date Fair Value (per unit)
Nonvested at January 31, 2016	2,032		$	23.70	384		$	26.57
Granted	1,228		$	22.12	231		$	17.51
Vested	(776	)	$	23.59	—		$	—
Forfeited	(343	)	$	21.50	(232	)	$	24.63
Nonvested at January 29, 2017	2,141		$	22.54	383		$	22.31

Summary of warrant shares

he following table summarizes the underlying Warrant Shares issued to Comcast for fiscal years 2017 and 2016.

(in thousands, except for per Warrant Share amounts)	Number of Warrant Shares		Weighted Average Grant Date Fair Value (per Warrant Share)
Balance at January 31, 2016	—		$	—
Warrant shares granted	1,087		27.74
Warrant shares vested	(109	)	27.74
Balance at January 29, 2017	978		$	27.74