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Stock-Based Compensation (Tables)
12 Months Ended
Dec. 31, 2013
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Schedule of Valuation Assumptions
The weighted-average assumptions used in the model were as follows:
 
 
2013
 
2012
 
2011
Risk-free interest
 
1.1
%
 
0.4
%
 
1.1
%
Expected life (years)
 
4.3

 
3.4

 
3.7

Expected dividend yield
 

 

 

Volatility
 
39.7
%
 
32.7
%
 
26.2
%
Weighted-average Black-Scholes fair value per share at date of grant
 
$
6.04

 
$
2.84

 
$
1.89

Schedule of Share-based Compensation, Stock Options, Activity
The tables below summarize the option activity under the Plan:
 
 
Shares
 
Weighted-
Average
Exercise Price
Outstanding—December 28, 2010
 
2,420,861

 
8.67

Granted
 
283,307

 
8.67

Forfeited
 
(81,330
)
 
8.67

Exercised
 
(1,815
)
 
8.67

Outstanding—January 3, 2012
 
2,621,023

 
8.67

Granted
 
516,473

 
11.27

Forfeited
 
(164,329
)
 
8.68

Exercised
 

 

Outstanding—January 1, 2013
 
2,973,167

 
9.12

Granted
 
555,273

 
18.06

Forfeited
 
(55,389
)
 
11.89

Exercised
 
(163,179
)
 
8.72

Outstanding—December 31, 2013
 
3,309,872

 
$
10.59




10. Stock-Based Compensation (continued)
 
 
Shares
 
Weighted-
Average
Exercise Price
 
Weighted-
Average
Remaining
Years of
Contractual
Life
 
Aggregate
Intrinsic Value(1) (in thousands)
Outstanding as of December 31, 2013
 
3,309,872

 
$
10.59

 
7.65
 
$
83,842

Vested and expected to vest
 
3,291,058

 
10.56

 
7.63
 
83,475

Exercisable as of December 31, 2013
 
2,679,130

 
9.45

 
7.27
 
70,925

_____________
(1)
Aggregate intrinsic value represents the amount by which fair value of the Company's stock exceeds the exercise price of the option as of December 31, 2013.