Stock Plans (Tables)
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12 Months Ended |
Jan. 01, 2012
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Disclosure of Compensation Related Costs, Share-based Payments [Abstract] |
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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 units and stock grants, net of estimated forfeitures, included in the Company’s consolidated statements of operations for fiscal years 2011, 2010, and 2009: | | | | | | | | | | | | | | January 1, 2012 | | January 2, 2011 | | January 3, 2010 | | (In thousands) | Cost of product and service revenue | $ | 1,139 |
| | $ | 882 |
| | $ | 1,173 |
| Research and development expenses | 583 |
| | 518 |
| | 413 |
| Selling, general and administrative and other expenses | 13,760 |
| | 11,151 |
| | 11,202 |
| Continuing operations stock-based compensation expense | 15,482 |
| | 12,551 |
| | 12,788 |
| Discontinued operations stock-based compensation expense | — |
| | 1,214 |
| | 1,048 |
| Total stock-based compensation expense | $ | 15,482 |
| | $ | 13,765 |
| | $ | 13,836 |
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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 are as follows for the fiscal years ended: | | | | | | | | | | | January 1, 2012 | | January 2, 2011 | | January 3, 2010 | Risk-free interest rate | 1.9 | % | | 1.8 | % | | 1.6 | % | Expected dividend yield | 1.1 | % | | 1.4 | % | | 1.9 | % | Expected lives | 4 years |
| | 4 years |
| | 4 years |
| Expected stock volatility | 38.1 | % | | 37.5 | % | | 35.0 | % |
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Summary of Stock Option Activity |
The following table summarizes stock option activity for the three fiscal years ended January 1, 2012: | | | | | | | | | | | | | | | | | | | | | | | January 1, 2012 | | January 2, 2011 | | January 3, 2010 | | Number of Shares | | Weighted- Average Price | | Number of Shares | | Weighted- Average Price | | Number of Shares | | Weighted- Average Price | | (Shares in thousands) | Outstanding at beginning of year | 6,983 |
| | $ | 21.86 |
| | 8,415 |
| | $ | 21.27 |
| | 9,424 |
| | $ | 24.81 |
| Granted | 847 |
| | 24.20 |
| | 784 |
| | 21.16 |
| | 2,254 |
| | 13.26 |
| Exercised | (1,138 | ) | | 20.86 |
| | (1,543 | ) | | 18.82 |
| | (459 | ) | | 13.59 |
| Canceled | (1,237 | ) | | 30.29 |
| | (267 | ) | | 25.19 |
| | (2,601 | ) | | 28.50 |
| Forfeited | (109 | ) | | 18.27 |
| | (406 | ) | | 17.67 |
| | (203 | ) | | 21.27 |
| Outstanding at end of year | 5,346 |
| | $ | 20.57 |
| | 6,983 |
| | $ | 21.86 |
| | 8,415 |
| | $ | 21.27 |
| Exercisable at end of year | 3,549 |
| | $ | 20.74 |
| | 4,787 |
| | $ | 23.78 |
| | 4,909 |
| | $ | 23.95 |
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Summary of Restricted Stock Award Activity |
The following table summarizes the restricted stock awards activity for the three fiscal years ended January 1, 2012: | | | | | | | | | | | | | | | | | | | | | | | January 1, 2012 | | January 2, 2011 | | January 3, 2010 | | Number of Shares | | Weighted- Average Grant- Date Fair Value | | Number of Shares | | Weighted- Average Grant- Date Fair Value | | Number of Shares | | Weighted- Average Grant- Date Fair Value | | (Shares in thousands) | Nonvested at beginning of year | 578 |
| | $ | 22.00 |
| | 451 |
| | $ | 22.49 |
| | 321 |
| | $ | 24.54 |
| Granted | 460 |
| | 26.31 |
| | 413 |
| | 21.20 |
| | 283 |
| | 13.24 |
| Vested | (272 | ) | | 23.96 |
| | (147 | ) | | 20.45 |
| | (118 | ) | | 15.45 |
| Forfeited | (94 | ) | | 24.58 |
| | (139 | ) | | 21.17 |
| | (35 | ) | | 23.80 |
| Nonvested at end of year | 672 |
| | $ | 23.62 |
| | 578 |
| | $ | 22.00 |
| | 451 |
| | $ | 22.49 |
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