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Stock-Based Compensation
6 Months Ended
Jul. 02, 2022
Stock-Based Compensation  
Stock-Based Compensation

10. Stock-Based Compensation

Stock-based compensation costs are based on the fair values on the date of grant for stock awards and stock options and on the date of enrollment for the employee stock purchase plans. The fair values of stock awards (such as restricted stock units (RSUs), performance stock units (PSUs) and restricted stock awards (RSAs)) are estimated based on their intrinsic values. The fair values of market stock awards (MSUs) are estimated using a Monte Carlo simulation. The fair values of stock options and employee stock purchase plans are estimated using the Black-Scholes option-pricing model.

The following table presents details of stock-based compensation costs recognized in the Condensed Consolidated Statements of Income (in thousands):

Three Months Ended

Six Months Ended

July 2,

July 3,

July 2,

July 3,

    

2022

    

2021

    

2022

    

2021

Cost of revenues

$

274

$

199

$

546

$

436

Research and development

7,703

5,488

14,694

 

11,118

Selling, general and administrative

6,412

5,565

12,024

 

11,066

14,389

11,252

27,264

 

22,620

Income tax benefit

1,371

577

3,215

1,259

Share-based compensation – continuing operations

13,018

10,675

24,049

21,361

Share-based compensation – discontinued operations, net

1,634

3,109

Total

$

13,018

$

12,309

$

24,049

$

24,470

The Company had approximately $130.4 million of total unrecognized compensation cost related to equity grants as of July 2, 2022 that is expected to be recognized over a weighted-average period of approximately 2.4 years. There were no significant stock-based compensation costs capitalized into assets in any of the periods presented.