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Stock Plans (Tables)
 3 Months Ended
Apr. 05, 2020
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 option grants, restricted stock awards, performance restricted stock units, performance units and stock awards, included in the Company’s condensed consolidated statements of operations for the three months ended April 5, 2020 and March 31, 2019:
 
Three Months Ended
 
April 5,
2020
 
March 31,
2019
 
(In thousands)
Cost of revenue
$
254

 
$
334

Research and development expenses
272

 
291

Selling, general and administrative expenses
2,524

 
5,472

Total stock-based compensation expense
$
3,050

 
$
6,097


The total income tax benefit recognized in the condensed consolidated statements of operations for stock-based compensation was $2.2 million and $4.2 million for the three months ended April 5, 2020 and March 31, 2019, respectively. Stock-based compensation costs capitalized as part of inventory was $0.3 million and $0.4 million as of each of April 5, 2020 and March 31, 2019
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 Months Ended
 
April 5,
2020
 
March 31,
2019
Risk-free interest rate
0.9
%
 
2.6
%
Expected dividend yield
0.3
%
 
0.3
%
Expected term
5 years

 
5 years

Expected stock volatility
23.8
%
 
22.8
%
Summary of Stock Option Activity
The following table summarizes stock option activity for the three months ended April 5, 2020:
 
Number
of
Shares
 
Weighted-
Average Exercise
Price
 
Weighted-Average
Remaining
Contractual 
Term
 
Total
Intrinsic
Value
 
(In thousands)
 
 
 
(In years)
 
(In millions)
Outstanding at December 29, 2019
1,535

 
$
60.42

 
 
 
 
Granted
266

 
86.87

 
 
 
 
Exercised
(21
)
 
52.69

 
 
 
 
Forfeited
(30
)
 
85.13

 
 
 
 
Outstanding at April 5, 2020
1,750

 
$
64.10

 
3.7
 
$
24.0

Exercisable at April 5, 2020
1,296

 
$
56.01

 
2.7
 
$
23.9
Summary of Restricted Stock Award Activity The following table summarizes restricted stock award activity for the three months ended April 5, 2020:
 
Number of
Shares
 
Weighted-
Average
Grant-
Date Fair
Value
 
(In thousands)
 
 
Nonvested at December 29, 2019
345

 
$
78.69

Granted
156

 
84.18

Vested
(165
)
 
70.80

Forfeited
(16
)
 
82.94

Nonvested at April 5, 2020
320

 
$
85.20