STOCK-BASED COMPENSATION (Tables)

12 Months Ended

Dec. 30, 2023

Share-Based Payment Arrangement [Abstract]

Schedule of Financial Statement Line Items in Which Stock-based Compensation is Reflected

The following table provides stock-based compensation by the financial statement line item in which it is reflected:

	Fiscal Year
	2023		2022		2021
	(in thousands)
Cost of revenue	$	15,052	$	14,853	$	13,087
Selling, general and administrative	56,996		58,764		58,387
Stock-based compensation, before income taxes	72,048		73,617		71,474
Provision for income taxes	(10,907)		(10,969)		(10,299)
Stock-based compensation, net of income taxes	$	61,141	$	62,648	$	61,175

Schedule of Stock Option Activity

The following table summarizes stock option activity under the Company’s stock-based compensation plans:

	Number of shares	Weighted Average Exercise Price		Weighted Average Remaining Contractual Life	Aggregate Intrinsic Value
	(in thousands)			(in years)	(in thousands)
Options outstanding as of December 31, 2022	882	$	204.41
Options granted	130	$	194.27
Options exercised	(195)	$	130.91
Options canceled	(28)	$	259.63
Options outstanding as of December 30, 2023	789	$	218.97	6.5	$	28,935
Options exercisable as of December 30, 2023	408	$	205.50	4.8	$	20,521
Options expected to vest as of December 30, 2023	381	$	233.37	8.3	$	8,414

Schedule of Weighted-average Assumptions

The fair value of stock options granted was estimated using the Black-Scholes option-pricing model with the following weighted-average assumptions:

	Fiscal Year
	2023		2022		2021
Expected life (in years)	6.0		6.0		6.0
Expected volatility	36	%	33	%	32	%
Risk-free interest rate	3.8	%	2.7	%	1.0	%
Expected dividend yield	0	%	0	%	0	%

Schedule of Restricted Stock and Restricted Stock Unit Activity

The following table summarizes the restricted stock units activity for fiscal year 2023:

	Restricted Stock Units	Weighted Average Grant Date Fair Value
	(in thousands)
December 31, 2022	364	$	226.43
Granted	265	$	194.84
Vested	(134)	$	212.34
Canceled	(26)	$	231.70
December 30, 2023	469	$	212.30

Schedule of Information about PSUs and Related Weighted-Average Assumptions

The Company utilizes a Monte Carlo simulation valuation model to value these awards. Information pertaining to the Company’s PSUs and the related estimated weighted-average assumptions used to calculate their fair value were as follows:

	Fiscal Year
	2023			2022			2021
	(shares in thousands)
PSUs granted	146			134			64
Weighted average grant date fair value	$	204.40		$	210.42		$	407.76
Key assumptions:
Expected volatility	37		%	39		%	37		%
Risk-free interest rate	4.2		%	2.6		%	0.2		%
Expected dividend yield	0		%	0		%	0		%
Total shareholder return of 20-trading day average stock price on grant date	(9.8)		%	(32.7)		%	39.9		%