Stock-Based Compensation Expense (Tables)

3 Months Ended

Mar. 31, 2024

Share-Based Payment Arrangement [Abstract]

Weighted-Average Assumptions Used in Estimating Fair Values of Stock Options Granted

The fair values of stock options granted in each period presented were estimated using the following weighted-average assumptions:

	Three-months Ended
	March 31, 2024		April 2, 2023
Risk-free rate	4.3	%	4.0	%
Expected dividend yield	0.76	%	0.59	%
Expected volatility	39	%	39	%
Expected term (in years)	4.7		4.3

Schedule of Nonvested Restricted Stock Units Activity

The following table summarizes the Company's RSUs activity for the three-month period ended March 31, 2024:

	Shares (in thousands)	Weighted-Average Grant Date Fair Value
Nonvested as of December 31, 2023	1,429	$	54.22
Granted	765	38.82
Vested	(339)	65.45
Forfeited or expired	(36)	52.43
Nonvested as of March 31, 2024	1,819	$	45.68

Schedule of Nonvested Performance-based Units Activity

The following table summarizes the Company's PRSUs activity for the three-month period ended March 31, 2024:

	Shares (in thousands)	Weighted-Average Grant Date Fair Value
Nonvested as of December 31, 2023	79	$	52.23
Granted	55	39.05
Vested	—	—
Forfeited or expired	—	—
Nonvested as of March 31, 2024	134	$	46.82

Schedule of Employee Service Share-based Compensation, Allocation of Recognized Period Costs

The following table presents the stock-based compensation expense by caption for each period presented on the Consolidated Statements of Operations (in thousands):

	Three-months Ended
	March 31, 2024		April 2, 2023
Cost of revenue	$	605	$	621
Research, development, and engineering	4,389		5,890
Selling, general, and administrative	8,308		10,068
	$	13,302	$	16,579