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Stock Plans (Tables)
12 Months Ended
Dec. 29, 2019
Share-based Payment Arrangement [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, restricted stock units, performance restricted stock units, performance units and stock grants, net of estimated forfeitures, included in the Company’s consolidated statements of operations for fiscal years 2019, 2018 and 2017:
 
 
December 29,
2019
 
December 30,
2018
 
December 31,
2017
 
(In thousands)
Cost of product and service revenue
$
1,620

 
$
1,466

 
$
1,254

Research and development expenses
1,061

 
1,359

 
1,389

Selling, general and administrative expenses
28,833

 
25,942

 
22,778

Total stock-based compensation expense
$
31,514

 
$
28,767

 
$
25,421


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 for the fiscal years ended:
 
 
December 29,
2019
 
December 30,
2018
 
December 31,
2017
Risk-free interest rate
2.5
%
 
3.0
%
 
2.0
%
Expected dividend yield
0.3
%
 
0.4
%
 
0.4
%
Expected lives
5 years

 
5 years

 
5 years

Expected stock volatility
22.8
%
 
20.7
%
 
22.4
%


Summary of Stock Option Activity
The following table summarizes stock option activity for the fiscal year ended December 29, 2019:
 
 
Number
of
Shares
 
Weighted-
Average Exercise
Price
 
(Shares in thousands)
Outstanding at beginning of year
1,765

 
$
52.91

Granted
304

 
93.66

Exercised
(415
)
 
47.60

Canceled
(3
)
 
75.52

Forfeited
(116
)
 
78.71

Outstanding at end of year
1,535

 
$
60.42

Exercisable at end of year
954

 
$
48.65


Summary of Restricted Stock Award Activity
The following table summarizes restricted stock award activity for the fiscal year ended December 29, 2019:
 
 
Number
of
Shares
 
Weighted-
Average
Grant-
Date Fair
Value
 
(Shares in thousands)
Nonvested at beginning of year
465

 
$
61.72

Granted
163

 
94.80

Vested
(218
)
 
55.20

Forfeited
(65
)
 
76.72

Nonvested at end of year
345

 
$
78.69