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Stock Plans (Tables)
 6 Months Ended
Jul. 02, 2017
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Summary of Total Compensation Recognized Related to Outstanding Equity Awards
The following table summarizes total pre-tax compensation expense recognized related to the Company’s stock options, restricted stock, performance restricted stock units, performance units and stock awards, included in the Company’s condensed consolidated statements of operations for the three and six months ended July 2, 2017 and July 3, 2016:
 
Three Months Ended
 
Six Months Ended
 
July 2,
2017
 
July 3,
2016
 
July 2,
2017
 
July 3,
2016
 
(In thousands)
Cost of revenue
$
281

 
$
304

 
$
541

 
$
494

Research and development expenses
377

 
231

 
704

 
400

Selling, general and administrative expenses
6,183

 
5,294

 
10,522

 
8,781

Total stock-based compensation expense
$
6,841

 
$
5,829

 
$
11,767

 
$
9,675


The total income tax benefit recognized in the condensed consolidated statements of operations for stock-based compensation was $5.1 million and $8.0 million for the three and six months ended July 2, 2017, respectively. The total income tax benefit recognized in the condensed consolidated statements of operations for stock-based compensation was $5.3 million and $7.3 million for the three and six months ended July 3, 2016, respectively. Stock-based compensation costs capitalized as part of inventory were $0.4 million and $0.6 million as of July 2, 2017 and July 3, 2016
Weighted-Average Assumptions Used in the Black-Scholes Option Pricing Model
The Company’s weighted-average assumptions used in the Black-Scholes option pricing model were as follows:
 
Three and Six Months Ended
 
July 2,
2017
 
July 3,
2016
Risk-free interest rate
1.8
%
 
1.3
%
Expected dividend yield
0.5
%
 
0.6
%
Expected term
5 years

 
5 years

Expected stock volatility
22.4
%
 
25.2
%
Summary of Stock Option Activity
The following table summarizes stock option activity for the six months ended July 2, 2017:
 
Number
of
Shares
 
Weighted-
Average Exercise
Price
 
Weighted-Average
Remaining
Contractual Term
 
Total
Intrinsic
Value
 
(In thousands)
 
 
 
(In years)
 
(In millions)
Outstanding at January 1, 2017
2,287

 
$
37.64

 
 
 
 
Granted
451

 
53.54

 
 
 
 
Exercised
(432
)
 
30.64

 
 
 
 
Forfeited
(6
)
 
50.48

 
 
 
 
Outstanding at July 2, 2017
2,300

 
$
42.04

 
4.3
 
$
46.2

Exercisable at July 2, 2017
1,359

 
$
37.09

 
3.2
 
$
34.0
Summary of Restricted Stock Award Activity
The following table summarizes restricted stock award activity for the six months ended July 2, 2017:
 
Number of
Shares
 
Weighted-
Average
Grant-
Date Fair
Value
 
(In thousands)
 
 
Nonvested at January 1, 2017
521

 
$
46.48

Granted
217

 
53.92

Vested
(204
)
 
45.57

Forfeited
(15
)
 
49.00

Nonvested at July 2, 2017
519

 
$
49.87