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Shareholders' Equity (Tables)

12 Months Ended

Dec. 31, 2016

Total stock-based compensation expense was as follows (in thousands):



	2016		2015		2014
Stock options	$	2,281	$	2,634	$	2,125
Stock awards	9,680		7,656		4,673
Total stock-based compensation expense⁽¹⁾	11,961		10,290		6,798
Income tax benefit	3,947		3,413		2,284
Total stock-based compensation expense, net of tax	$	8,014	$	6,877	$	4,514

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⁽¹⁾ Reflects a $1.2 million benefit in 2014 related to a change in estimated forfeitures due to employee turnover.

A summary of our stock option activity was as follows (in thousands, except per share amounts and years):



	Stock Options		Weighted- Average Exercise Price per Share		Weighted- Average Remaining Contractual Term (years)	Aggregate Intrinsic Value ⁽¹⁾
Balance at January 2, 2016	1,388		$	18.44	5.3	$	7,366
Granted	299		19.19
Exercised	(188	)	12.21
Canceled/Forfeited	(145	)	25.71
Outstanding at December 31, 2016	1,354		$	18.70	5.9	$	7,541

Exercisable at December 31, 2016	927		$	17.40	4.6	$	6,264

Vested and expected to vest at December 31, 2016	1,315		$	18.61	5.9	$	7,442

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⁽¹⁾	Aggregate intrinsic value includes only those options where the current share price is equal to or greater than the share price on the date of grant.

Other information pertaining to options was as follows (in thousands, except per share amounts):



	2016		2015		2014
Weighted-average grant date fair value of stock options granted	$	8.85	$	15.94	$	9.33
Total intrinsic value (at exercise) of stock options exercised	$	2,088	$	4,592	$	2,478

The assumptions used to calculate the fair value of options granted using the Black-Scholes-Merton option-pricing model were as follows:

Stock award activity was as follows (in thousands, except per share amounts):



	Time- Based Stock Awards		Weighted-Average Grant Date Fair Value	Performance- and Market-Based Stock Awards		Weighted-Average Grant Date Fair Value
Outstanding at January 2, 2016	454		$23.14	710		$22.01
Granted	289		19.78	347		18.84
Vested	(189	)	24.55	(52	)	24.57
Canceled/Forfeited	(24	)	21.34	(106	)	20.24
Outstanding at December 31, 2016	530		$20.83	899		$20.87

The assumptions used to calculate the fair value of market-based stock awards granted using the Monte Carlo simulation model were as follows:

Repurchases of our common stock were as follows (in thousands):



	2016		2015		2014
Amount repurchased under Board-approved share repurchase program	$	125,000	$	98,446	$	45,044
Amount repurchased in connection with the vesting of employee restricted stock grants	1,693		1,755		1,448
Total amount repurchased	$	126,693	$	100,201	$	46,492

The components of basic and diluted net income per share were as follows (in thousands, except per share amounts):



	2016		2015		2014
Net income	$	51,417	$	50,519	$	67,974

Reconciliation of weighted-average shares outstanding:
Basic weighted-average shares outstanding	46,154		51,252		53,452
Dilutive effect of stock-based awards	748		849		741
Diluted weighted-average shares outstanding	46,902		52,101		54,193

Net income per share – basic	$	1.11	$	0.99	$	1.27
Net income per share – diluted	$	1.10	$	0.97	$	1.25