National Vision (EYE) 10-Q 14 Aug 18 2018 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2018	Jul. 31, 2018
Document And Entity Information [Abstract]
Entity Registrant Name	National Vision Holdings, Inc.
Entity Central Index Key	1,710,155
Current Fiscal Year End Date	--12-29
Entity Filer Category	Non-accelerated Filer
Document Type	10-Q
Document Period End Date	Jun. 30, 2018
Document Fiscal Year Focus	2,018
Document Fiscal Period Focus	Q2
Amendment Flag	false
Entity Common Stock, Shares Outstanding		75,472,468

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2018	Dec. 30, 2017
Current assets:
Cash and cash equivalents	$ 34,642	$ 4,208
Accounts receivable, net	45,075	43,193
Inventories	94,909	91,151
Prepaid expenses and other current assets	24,803	23,925
Total current assets	199,429	162,477
Property and equipment, net	328,035	304,132
Other assets:
Goodwill	792,744	792,744
Other assets	9,970	10,988
Total non-current assets	1,440,012	1,421,314
Total assets	1,639,441	1,583,791
Current liabilities:
Accounts payable	32,784	35,708
Other payables and accrued expenses	72,405	77,611
Unearned revenue	23,160	27,739
Deferred revenue	53,221	62,993
Current maturities of long-term debt	7,694	7,258
Total current liabilities	189,264	211,309
Long-term debt, less current portion and debt discount	566,565	561,980
Other non-current liabilities:
Deferred revenue	20,496	31,222
Other liabilities	42,294	46,044
Deferred income taxes, net	91,235	73,648
Total other non-current liabilities	154,025	150,914
Commitments and contingencies
Stockholders’ equity:
Common stock, $0.01 par value; 200,000 shares authorized; 75,334 and 74,654 shares issued and outstanding as of June 30, 2018 and December 30, 2017, respectively	753	746
Additional paid-in capital	638,377	631,798
Accumulated other comprehensive loss	(2,746)	(9,868)
Retained earnings	94,296	37,145
Treasury stock, at cost; 53 and 28 shares as of June 30, 2018 and December 30, 2017, respectively	(1,093)	(233)
Total stockholders’ equity	729,587	659,588
Total liabilities and stockholders’ equity	1,639,441	1,583,791
Trademarks and trade names
Other assets:
Intangible assets	240,547	240,547
Other intangible assets, net
Other assets:
Intangible assets	$ 68,716	$ 72,903

Condensed Consolidated Balance3

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Jun. 30, 2018	Dec. 30, 2017
Statement of Financial Position [Abstract]
Common stock, par value (in usd per share)	$ 0.01	$ 0.01
Common stock, shares authorized	200,000,000	200,000,000
Common stock, shares, issued	75,334,000	74,654,000
Common stock, shares, outstanding	75,334,000	74,654,000
Treasury stock, shares	53,000	28,000

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations and Comprehensive Income (Loss) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jul. 01, 2017	Jun. 30, 2018	Jul. 01, 2017
Revenue:
Total net revenue	$ 385,532	$ 337,541	$ 793,507	$ 707,400
Costs applicable to revenue (exclusive of depreciation and amortization):
Products	127,731	112,314	258,609	233,347
Services and plans	49,328	44,094	98,904	88,869
Total costs applicable to revenue	177,059	156,408	357,513	322,216
Operating expenses:
Selling, general and administrative expenses	165,038	144,655	335,140	294,459
Depreciation and amortization	17,346	14,629	35,000	29,052
Asset impairment	0	1,000	0	1,000
Litigation settlement	0	7,000	0	7,000
Other expense, net	296	77	418	179
Total operating expenses	182,680	167,361	370,558	331,690
Income from operations	25,793	13,772	65,436	53,494
Interest expense, net	9,424	14,622	18,737	26,114
Debt issuance costs	0	0	0	2,702
Earnings (loss) before income taxes	16,369	(850)	46,699	24,678
Income tax provision	3,292	646	8,575	9,104
Net income (loss)	$ 13,077	$ (1,496)	$ 38,124	$ 15,574
Earnings (loss) per share:
Basic (in usd per share)	$ 0.17	$ (0.03)	$ 0.51	$ 0.28
Diluted (in usd per share)	$ 0.17	$ (0.03)	$ 0.49	$ 0.27
Weighted average shares outstanding:
Basic (shares)	75,249	56,414	74,983	56,337
Diluted (shares)	77,858	56,414	77,879	58,339
Comprehensive income (loss):
Net income (loss)	$ 13,077	$ (1,496)	$ 38,124	$ 15,574
Change in unrealized gain (loss) on hedge instruments	3,359	251	9,575	(79)
Tax (provision) benefit of change in unrealized gain (loss) on hedge instruments	(861)	(96)	(2,453)	30
Comprehensive income (loss)	15,575	(1,341)	45,246	15,525
Net product sales
Revenue:
Total net revenue	319,408	276,960	658,185	583,544
Net sales of services and plans
Revenue:
Total net revenue	$ 66,124	$ 60,581	$ 135,322	$ 123,856

Condensed Consolidated Stateme5

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2018	Jul. 01, 2017
Cash flows from operating activities:
Net income	$ 38,124	$ 15,574
Adjustments to reconcile net income to cash provided by operating activities:
Depreciation of property and equipment	30,814	24,835
Amortization of intangible assets	4,186	4,217
Amortization of loan costs	858	2,042
Asset impairment	0	1,000
Deferred income tax expense	8,377	8,765
Non-cash stock option compensation	3,120	1,989
Non-cash inventory adjustments	1,322	3,880
Bad debt expense	3,349	2,572
Debt issuance costs	0	2,702
Other	737	68
Changes in operating assets and liabilities:
Accounts receivable	(5,231)	(6,358)
Inventories	(5,080)	(6,192)
Other assets	(599)	1,792
Accounts payable	(2,924)	(4,967)
Deferred revenue	5,278	7,576
Other liabilities	(2,196)	8,438
Net cash provided by operating activities	80,135	67,933
Cash flows from investing activities:
Purchase of property and equipment	(48,684)	(44,219)
Other	116	84
Net cash used for investing activities	(48,568)	(44,135)
Cash flows from financing activities:
Proceeds from issuance of long-term debt	0	173,712
Proceeds from exercise of stock options	3,530	1,088
Principal payments on long-term debt	(2,850)	(4,157)
Purchase of treasury stock	(860)	0
Payments on capital lease obligations	(759)	(424)
Debt issuance costs	0	(2,702)
Dividend to stockholders	0	(170,983)
Net cash used for financing activities	(939)	(3,466)
Net change in cash, cash equivalents and restricted cash	30,628	20,332
Cash, cash equivalents and restricted cash, beginning of year	5,193	5,687
Cash, cash equivalents and restricted cash, end of period	35,821	26,019
Reconciliation of Cash, Cash Equivalents, and Restricted Cash:
Total cash, cash equivalents and restricted cash	$ 5,193	$ 5,687

Description of Business and Bas

Description of Business and Basis of Presentation	6 Months Ended
	Jun. 30, 2018
Accounting Policies [Abstract]
Description of Business and Basis of Presentation	Description of Business and Basis of Presentation Nature of Operations National Vision Holdings, Inc. (“NVHI,” the “Company,” “we,” “our,” or “us”) is a holding company whose operating subsidiaries include its indirect wholly owned subsidiary, National Vision, Inc. (“NVI”) and NVI’s direct wholly owned subsidiaries. The Company is a leading value retailer of eyeglasses and contact lenses in the United States and its territories. We operated 1,050 and 1,013 retail optical locations as of June 30, 2018 and December 30, 2017 , respectively, through our five store brands, America’s Best Contacts and Eyeglasses (“America’s Best”), Eyeglass World, Vista Optical locations on U.S. Army/Air Force military bases and within Fred Meyer stores, and our management and services arrangement with Walmart (“legacy”). Basis of Presentation We prepared the accompanying condensed consolidated financial statements in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) for interim financial information and, therefore, do not include all information and disclosures required by U.S. GAAP for complete consolidated financial statements. The condensed consolidated balance sheet as of December 30, 2017 has been derived from the audited consolidated balance sheet for the fiscal year then ended. These unaudited interim condensed consolidated financial statements reflect all normal and recurring adjustments which are, in the opinion of management, necessary to present fairly the Company’s consolidated financial position as of June 30, 2018 , the consolidated results of operations and comprehensive income (loss) for the three and six months ended June 30, 2018 and July 1, 2017 and its statements of cash flows for the six months ended June 30, 2018 and July 1, 2017 . Certain information and disclosures normally included in our annual consolidated financial statements have been condensed or omitted; however, we believe that the disclosures included herein are adequate to make the information presented not misleading. These interim condensed consolidated financial statements should be read in conjunction with our audited consolidated financial statements and the notes thereto for the fiscal year ended December 30, 2017 included in the Company’s Annual Report on Form 10-K for fiscal year 2017 filed on March 8, 2018. The Company’s significant accounting policies are set forth in Note 1 within those consolidated financial statements. We use the same accounting policies in preparing interim condensed consolidated financial information and annual consolidated financial statements. There were no changes to our significant accounting policies during the six months ended June 30, 2018 , except for the adoption of Accounting Standards Update (“ASU”) No. 2014-09, Revenue from Contracts with Customers and ASU No. 2016-18, Restricted Cash. See “Adoption of New Accounting Pronouncements” below for further discussion. Changes to stockholder’s equity associated with changes in unrealized gains and losses on cash flow hedging instruments, exercises of stock options, and the cumulative effect of adoption of ASU No. 2014-09 are discussed in Note 3. “Fair Value Measurements of Financial Assets and Liabilities,” Note 4. “Stock Incentive Plan,” and in Note 6. “Revenue from Contracts with Customers,” respectively. The condensed consolidated financial statements include our accounts and those of our subsidiaries, all of which are wholly-owned. All intercompany balances and transactions have been eliminated in consolidation. Fiscal Year Our fiscal year consists of 52 or 53 weeks ending on the Saturday closest to December 31. Fiscal year 2018 contains 52 weeks and will end on December 29, 2018 . All three and six month periods presented herein contain 13 and 26 weeks, respectively. All references to years and quarters relate to fiscal periods rather than calendar periods. Seasonality The consolidated results of operations for the three and six months ended June 30, 2018 and July 1, 2017 are not necessarily indicative of the results to be expected for the full fiscal year due to seasonality and uncertainty of general economic conditions that may impact our key end markets. Historically, our business has realized a higher portion of net revenue, income from operations, and cash flows from operations in the first fiscal quarter, and a lower portion of net revenue, income from operations, and cash flows from operations in the fourth fiscal quarter. The seasonally larger first quarter is attributable primarily to the timing of our customers’ personal income tax refunds and annual health insurance program start or reset periods. Seasonality related to fourth quarter holiday spending by retail customers generally does not impact our business. Our quarterly consolidated results can also be affected by the timing of new store openings, store closings, and certain holidays. Use of Estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Income Taxes Our effective income tax rate (“ETR”) was 20.1% and (76.0)% and 18.4% and 36.9% during the three and six months ended June 30, 2018 and July 1, 2017 , respectively. The ETR for the three and six months ended June 30, 2018 reflected the reduced federal statutory rate from 35% to 21% as part of the Tax Cuts and Jobs Act of 2017 (“Tax Legislation”), effective for tax years beginning on or after January 1, 2018. Our expected combined statutory federal and state rate was reduced 8.4% and 8.7% due to $1.4 million and $4.1 million of income tax benefit resulting from stock option exercises during the three and six months ended June 30, 2018 , respectively. In comparison, the ETR of (76.0)% for the three months ended July 1, 2017, was due to a $0.5 million valuation allowance on deferred tax assets, as well as an adjustment to our estimated annual ETR. Our ETR for the six months ended July 1, 2017 decreased 5.7% as a result of a $1.4 million benefit associated with a dividend recapitalization bonus payment, partially offset by a $0.5 million valuation allowance on deferred tax assets, as well as an adjustment to our estimated annual ETR. Pursuant to SEC Staff Accounting Bulletin No. 118, Income Tax Accounting Implications of the Tax Legislation, the Company recognized provisional effects of the enactment of the Tax Legislation for which measurement could be reasonably estimated. Although we continue to analyze certain aspects of the Tax Legislation and refine our assessment, the ultimate impact of the legislation may differ from these estimates due to our continued analysis or further regulatory guidance that may be issued as a result of the legislation. Adjustments to the provisional amounts recorded by the Company as of December 30, 2017 that are identified within a subsequent measurement period of up to one year from the enactment date will be included as an adjustment to income tax expense in the period the amounts are determined. There were no adjustments to provisional amounts during the three and six months ended June 30, 2018 . Adoption of New Accounting Pronouncements Revenue from Contracts with Customers In May 2014, the Financial Accounting Standards Board (“FASB”) issued ASU No. 2014-09, Revenue from Contracts with Customers. ASU No. 2014-09 provides new guidance related to the core principle that an entity recognizes revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. It also requires additional disclosure about the nature, amount, timing, and uncertainty of revenue and cash flows arising from customer contracts, including significant judgments and changes in judgments. Under the new guidance, there is a five-step model to apply to revenue recognition, consisting of: (1) determination of whether a contract, an agreement between two or more parties that creates legally enforceable rights and obligations, exists; (2) identification of the performance obligations in the contract; (3) determination of the transaction price; (4) allocation of the transaction price to the performance obligations in the contract; and (5) recognition of revenue when (or as) the performance obligation is satisfied. The Company adopted this new guidance in the first quarter of 2018 using the modified retrospective transition method. The adoption resulted in $14.0 million and $11.8 million decrease in current and non-current deferred revenue, respectively, for certain contracts where we satisfy performance obligations over time and a related $6.6 million increase in deferred income tax liability, resulting in a net $19.2 million increase to retained earnings on the condensed consolidated balance sheet as of December 31, 2017. Our results of operations for the reported periods after December 31, 2017 are presented under this amended guidance, while prior period amounts are not adjusted and continue to be reported in accordance with historical accounting guidance. Adoption of this new guidance did not result in significant changes to our accounting policies, business processes, systems or controls, or have a material impact on our results of operations and cash flows. The impact of adopting the amended guidance primarily relates to the timing of revenue recognition for our eyecare club memberships, which comprised approximately 3% of our consolidated net revenue during the most recent three fiscal years. See Note 6. “Revenue From Contracts with Customers” for additional information. Restricted Cash In November 2016, the FASB issued ASU No. 2016-18, Restricted Cash . This new guidance requires that a statement of cash flows explain the change during the period in the total of cash, cash equivalents, and amounts generally described as restricted cash or restricted cash equivalents. The Company adopted this new guidance during the first quarter of 2018 using full retrospective application to each period presented. The adoption of this new guidance did not have a material effect on the Company’s financial condition, results of operations, or cash flows. Future Adoption of Accounting Pronouncements Leases In February 2016, the FASB issued ASU No. 2016-02, Leases . This new guidance establishes a right-of-use (“ROU”) model that requires a lessee to record a ROU asset and a lease liability on the balance sheet for all leases with terms longer than 12 months. Leases will be classified as either financing or operating, with such classification affecting the pattern of expense recognition in the statement of operations. Disclosure of key information about leasing arrangements will also be required. This new guidance is effective for fiscal years beginning after December 15, 2018, and interim reporting periods within that fiscal year. In July 2018, the FASB issued ASU 2018-11, “Leases: Targeted Improvements,” as an amendment to ASU 2016-02, “Leases,” which provides entities with an additional transition method to recognize a cumulative-effect adjustment to the opening balance of retained earnings in the period of adoption. We will adopt this new guidance in the first quarter of 2019. We have established a cross-functional team to evaluate and implement the new standard. We are in the process of implementing changes to our systems and processes in conjunction with our review of lease agreements to support recognition and disclosure upon adoption. We do not expect the adoption to have a significant impact on the recognition, measurement or presentation of lease expenses within our consolidated statements of operations. While we continue to assess all potential impacts of the standard, we currently believe the most significant impact relates to recording lease assets and related liabilities on the condensed consolidated balance sheets.

Details of Certain Balance Shee

Details of Certain Balance Sheet Accounts	6 Months Ended
	Jun. 30, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Details of Certain Balance Sheet Accounts	Details of Certain Balance Sheet Accounts In thousands As of As of Accounts receivable, net: Trade receivables $ 32,619 $ 28,862 Credit card receivables 8,327 10,459 Tenant improvement allowances receivable 4,890 4,794 Other receivables 2,355 2,936 Allowance for uncollectible accounts (3,116 ) (3,858 ) $ 45,075 $ 43,193 In thousands As of As of Inventories: Raw materials and work in process (1) $ 43,062 $ 43,953 Finished goods 51,847 47,198 $ 94,909 $ 91,151 (1) Due to the immaterial amount of estimated work in process and the short lead times for the conversion of raw materials to finished goods, the Company does not separately present raw materials and work in process. In thousands As of As of Property and equipment, net: Land and building $ 3,608 $ 3,608 Equipment 238,707 220,088 Furniture and fixtures 45,785 42,708 Leasehold improvements 172,693 155,369 Construction in progress 27,557 18,375 Property under capital leases 17,422 11,756 505,772 451,904 Less accumulated depreciation 177,737 147,772 $ 328,035 $ 304,132 In thousands As of As of Other payables and accrued expenses: Employee compensation and benefits $ 23,481 $ 21,134 Advertising 2,046 2,900 Self-insurance reserves 6,793 6,854 Reserves for customer returns and remakes 6,256 4,565 Capital expenditures 9,264 10,782 Legacy management and services agreement 5,253 6,000 Deferred rental expenses 908 1,140 Fair value of derivative liabilities 4,077 6,969 Sales and use taxes 1,185 1,218 Supplies and other store support expenses 1,953 3,014 Litigation settlements 3,878 3,942 Other 7,311 9,093 $ 72,405 $ 77,611 In thousands As of As of Other non-current liabilities: Fair value of derivative liabilities $ 2,471 $ 9,155 Tenant improvements (1) 24,974 22,894 Deferred rental expenses 8,050 7,246 Self-insurance reserves 4,713 4,564 Other 2,086 2,185 $ 42,294 $ 46,044 (1) Obligations for tenant improvements are amortized as a reduction of rental expense over the respective lease term.

Fair Value Measurements of Fina

Fair Value Measurements of Financial Assets and Liabilities	6 Months Ended
	Jun. 30, 2018
Fair Value Disclosures [Abstract]
Fair Value Measurements of Financial Assets and Liabilities	The Company uses a fair value hierarchy that is intended to increase consistency and comparability in fair value measurements and related disclosures. The fair value hierarchy is based on inputs to valuation techniques that are used to measure fair value that are either observable or unobservable. Observable inputs reflect assumptions market participants would use in pricing an asset or liability based on market data obtained from independent sources while unobservable inputs reflect pricing based upon a reporting entity’s own market assumptions. Under U.S. GAAP, the Company is required to (a) measure certain assets and liabilities at fair value or (b) disclose the fair values of certain assets and liabilities recorded at cost. Accounting standards define fair value as the price that would be received upon sale of an asset or paid upon transfer of a liability in an orderly transaction between market participants at the measurement date. Fair value is estimated assuming the transaction occurs in the principal or most advantageous market for the asset or liability and includes consideration of non-performance risk and credit risk of both parties. A three-tier fair value hierarchy prioritizes the inputs used in measuring fair value. These tiers include: • Level 1 - Valuation inputs are based upon unadjusted quoted prices for identical instruments traded in active markets. • Level 2 - Valuation inputs are based upon quoted prices for similar instruments in active markets, quoted prices for identical or similar instruments in inactive markets, and model-based valuation techniques for which all significant assumptions are observable in the market or can be corroborated by observable market data for substantially the full term of the assets or liabilities. • Level 3 - Valuation inputs are unobservable and typically reflect management’s estimates of assumptions that market participants would use in pricing the asset or liability. The fair values are determined using model-based techniques that include option pricing models, discounted cash flow models and similar techniques. The fair value estimates of financial instruments are not necessarily indicative of the amounts we might pay or receive in actual market transactions. The use of different market assumptions and/or estimation methodologies may have a material effect on the estimated fair value amounts. Cash and Cash Equivalents The carrying amount of cash and cash equivalents approximates fair value due to the short term maturity of the instruments. All cash and cash equivalents are denominated in U.S. currency. Accounts Receivable The carrying amount of accounts receivable approximates fair value due to the short-term nature of those items and the effect of related allowances for doubtful accounts. Accounts Payable and Other Payables and Accrued Expenses The carrying amounts of accounts payable and other payables and accrued expenses approximate fair value due to the short-term nature of those items. Long-term Debt - Credit Agreement Loans under our first lien credit agreement are traded in private markets on a less-than-daily basis. Fair value is based on the average of trading prices and bid/ask quotes around period-end (Level 2 inputs). The estimated fair values of our first lien term loans were $567.7 million and $570.2 million as of June 30, 2018 and December 30, 2017 , respectively, compared to carrying values of $555.3 million and $557.3 million , respectively, which includes the current portion, and is net of unamortized discounts and deferred debt issuance costs. Long-term Debt - Capital Leases The fair value of capital lease obligations is based on estimated future contractual cash flows discounted at an appropriate market rate of interest (Level 2 inputs). The estimated fair values of our capital leases were $22.9 million and $14.0 million as of June 30, 2018 and December 30, 2017 , respectively, compared to carrying values of $19.0 million and $12.0 million , respectively. Interest Rate Derivatives The Company is a party to three pay-fixed and receive-floating interest rate swap agreements to offset the variability of cash flows in LIBOR-indexed debt interest payments attributable to changes in the benchmark interest rate from March 13, 2017 to March 13, 2021 related to its current first lien credit agreement. Changes in the cash flows of each derivative have historically been and are expected to be highly effective in offsetting the changes in interest payments on a principal balance equal to the derivative’s notional amount, attributable to the hedged risk. During the three months ended March 31, 2018, in accordance with the original agreements with the counterparties, the notional amount of the first derivative decreased from $175 million to $140 million . There were no other changes in the terms of the arrangements. The change in notional amount did not impact the results of our assessment of effectiveness as of June 30, 2018 . We recognize as assets or liabilities at fair value the estimated amounts we would receive or pay upon a termination of interest rate swaps prior to their scheduled expiration dates. Fair value is based on information that is model-driven and whose inputs are observable (Level 2 inputs). As of June 30, 2018 , the Company expects to reclassify $3.0 million , net of tax, of accumulated other comprehensive loss (“AOCL”) into earnings in the next 12 months . See Note 10. “Accumulated Other Comprehensive Loss” for further details. Our cash flow hedge position related to interest rate derivative contracts is as follows: In thousands Notional Amount Final Maturity Date Other Payables and Accrued Expenses Other Liabilities AOCL, Net of Tax (1) As of $ 465,000 March 2021 $ 4,077 $ 2,471 $ 2,746 As of $ 500,000 March 2021 $ 6,969 $ 9,155 $ 9,868 (1) Includes stranded tax benefit of $2.1 million within AOCL from adopting provisions of the Tax Legislation of 2017 during the year ended December 30, 2017.

Stock Incentive Plan

Stock Incentive Plan	6 Months Ended
	Jun. 30, 2018
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Stock Incentive Plan	Stock Incentive Plan 2014 Stock Incentive Plan We have reserved an aggregate of 10,988,827 shares of our common stock for issuance under our 2014 Stock Incentive Plan. As of June 30, 2018 , 421,983 shares remained available for future grants. The following presents a roll-forward of stock options for the six months ended June 30, 2018 : Options issued and outstanding Rollover (1) Service-Based Performance-Based Total Balance, December 30, 2017 169,049 3,822,915 6,524,152 10,516,116 Exercised (38,490 ) (661,663 ) — (700,153 ) Forfeited — (61,641 ) (290,890 ) (352,531 ) Balance, June 30, 2018 130,559 3,099,611 6,233,262 9,463,432 Options vested and exercisable Balance, December 30, 2017 169,049 1,631,023 43,478 1,843,550 Vested — 718,856 — 718,856 Exercised (38,490 ) (661,663 ) — (700,153 ) Forfeited — (4,548 ) — (4,548 ) Balance, June 30, 2018 130,559 1,683,668 43,478 1,857,705 (1) Reflects options under the Vision Holding Corp. Amended and Restated 2013 Equity Incentive Plan During the six months ended June 30, 2018 , rollover and service-based options were exercised at a weighted average price of $5.04 , for a total intrinsic value of $19.6 million . The Company recorded an income tax benefit of $4.1 million in the condensed consolidated statement of operations related to these exercises. Compensation expense associated with service-based stock options is presented in selling, general, and administrative expenses (“SG&A”) in the accompanying condensed consolidated statements of operations. The Company granted 217,390 performance based stock options to one of our named executive officers that vest as a result of certain profitability targets for fiscal years 2017 to 2021 . Those targets were met for fiscal year 2017 , resulting in vesting of 20 percent of those performance-based options as presented in the table above. Vesting of all other performance-based options is conditional upon the achievement by affiliates of Kohlberg Kravis & Co. L.P. (“KKR Sponsor”), with respect to its investment in NVHI, of both a minimum internal rate of return and a minimum multiple of invested capital and then increases proportionally as the multiple of invested capital increases up to a defined target. See Note 11. “Subsequent Events,” for details regarding the secondary offering of common stock completed following the second quarter. 2017 Omnibus Incentive Plan We have reserved an aggregate of 4,000,000 shares of our common stock for issuance under our 2017 Omnibus Incentive Plan. As of June 30, 2018 , there were equity awards representing 177,678 restricted stock units and 92,443 stock options issued and outstanding, and 3,729,879 shares available for future grants. There was no material activity under the 2017 Omnibus Incentive Plan for the six months ended June 30, 2018 .

Related Party Transactions

Related Party Transactions	6 Months Ended
	Jun. 30, 2018
Related Party Transactions [Abstract]
Related Party Transactions	Related Party Transactions Transactions With Equity Sponsors We recorded the following fees paid to equity sponsors, which are presented in SG&A in the accompanying condensed consolidated statement of operations, except for $2.3 million in KKR Sponsor fees during the six months ended July 1, 2017 , which are presented in debt issuance costs. Three Months Ended Six Months Ended In thousands June 30, 2018 July 1, 2017 June 30, 2018 July 1, 2017 KKR Sponsor $ — $ 220 $ — $ 2,773 Berkshire Partners LLC $ — $ 52 $ — $ 104 Equity in Net Assets of Non-Consolidated Investee The Company has an investment in a private start-up company whose principal business is licensing software to eyeglass retailers. Under the equity method of accounting we are required to record our interest in the investee’s reported net income or loss for each reporting period, which is presented in other expense, net in the Company’s condensed consolidated statements of operations. Our interest in the investee’s net losses was $0.4 million and $0.6 million for the three and six months ended June 30, 2018 and $0.2 million and $0.3 million for the three and six months ended July 1, 2017 , respectively. After adjusting our investment for our interest in the investee’s reported net losses, our investment balance in the business was $1.8 million and $2.3 million as of June 30, 2018 and December 30, 2017 , respectively, which is included in other assets in the accompanying condensed consolidated balance sheets. In the ordinary course of business we are a licensee of our investee. We recorded licensing fees in SG&A in the accompanying condensed consolidated statements of operations in the amount of $0.2 million during the six months ended June 30, 2018 and $0.2 million and $0.5 million during the three and six months ended July 1, 2017 , respectively. Additionally, on August 29, 2017 , the investee issued a secured convertible promissory note to the Company, in the principal amount of $1.5 million , due on August 29, 2020 . Interest income associated with the note was immaterial for the three and six months ended June 30, 2018 .

Revenue From Contracts With Cus

Revenue From Contracts With Customers	6 Months Ended
	Jun. 30, 2018
Revenue from Contract with Customer [Abstract]
Revenue From Contracts With Customers	Revenue From Contracts With Customers A performance obligation is a promise in a contract to transfer a distinct good or service to a customer, and is the unit of account under ASU 2014-09, codified in ASC 606, Revenue from Contracts With Customers . As discussed in Note 1, we adopted ASC 606 in the first quarter of fiscal year 2018 using the modified retrospective transition method. All of our revenue is derived from contracts with customers and is reported as net revenue in the condensed consolidated statements of operations. We recognize revenue from the products and services we provide in accordance with the five-step process outlined in ASC 606. We recognize revenue when we satisfy a performance obligation by transferring control of a product or service to a customer in an amount that reflects the consideration that we expect to receive. This revenue can be recognized at a point in time or over time. We invoice customers based on our contractual arrangements with each customer, which may not be consistent with the period that revenues are recognized. When there is a timing difference between when we invoice customers and when revenues are recognized, we record either a contract asset (accounts receivable) or a contract liability (deferred revenue or unearned revenue), as appropriate. See further discussion related to contract assets and liabilities below. The majority of our revenue arrangements generally consist of a single performance obligation to transfer promised goods or services. Based on our evaluation process and review of our contracts with customers, in most circumstances the timing and amount of revenue recognized under the new guidance is consistent with our past revenue recognition policy. The majority of our annual revenues are recognized either at the point of sale or upon delivery and customer acceptance, paid for at the time of sale in cash, credit card, or on account with health care plans and programs located throughout the United States (“managed care”) having terms generally between 14 and 120 days, with most paying within 90 days. Revenues recognized over time primarily include product protection plans, eyecare club memberships and management fees earned from our legacy partner. Refer to Note 8 for the Company’s disaggregation of net revenue by reportable segment. As the reportable segments are aligned by similar economic factors, trends and customers, this disaggregation view best depicts how the nature, amount, and uncertainty of revenue and cash flows are affected by economic factors. The following disaggregation of revenues depicts our revenues based on the timing of revenue recognition. Disaggregation of Revenues: In thousands Three Months Ended Six Months Ended Revenues recognized at a point in time $ 350,345 $ 723,110 Revenues recognized over time 35,187 70,397 Total net revenue $ 385,532 $ 793,507 Revenues Recognized at a Point in Time The revenues include 1) retail sales of prescription and non-prescription eyewear, contact lenses, and related accessories to retail customers (including those covered by managed care), 2) eye exams and 3) wholesale sales of inventory in which our customer is another retail entity. Owned & Host Within our owned & host segment, product revenues include sales of prescription and non-prescription eyewear, contact lenses and related accessories to retail customers. For sales of in-store non-prescription eyewear and related accessories, we recognize revenue at the point of sale. For sales of prescription eyewear, we recognize revenue when the performance obligations identified under the terms of contracts with our customers are satisfied, which generally occurs, for products, when those products have been delivered and accepted by our customers. Revenue is recognized net of sales taxes and returns. The returns allowance is based on historical return patterns. Provisions for estimated returns are established and the expected costs continue to be recognized as contra-revenue per ASC 606 when the products are sold. At our America’s Best brand, our lead offer is two pairs of eyeglasses and a free eye exam for one low price (“two-pair deal”). Since an eye exam is a key component in the ability for acceptable prescription eyewear to be delivered to a customer, we concluded that the eye exam service, while capable of being distinct from the eyeglass product delivery, was not distinct in the context of the two-pair deal. As a result, we do not allocate revenue to the eye exam associated with the two-pair deal, and we record all revenue associated with the offer in owned & host net product sales when the customer has received and accepted the merchandise. Within our owned & host segment services and plans revenues, eye exam services sold on a stand-alone basis are also recognized at the point of sale which occurs immediately after the exam is performed. Legacy Within our legacy segment, product revenues include 1) sales of prescription and non-prescription eyewear, contact lenses and related accessories to retail customers in transactions where the retail customer uses a managed-care payor, and 2) wholesale sales of the same inventory types to the legacy partner. The revenue recognition for the retail sales are identical to similar sales in the owned & host segment. Wholesale sales of inventory to the legacy partner are recognized at the point in time when control of the inventory has been transferred in accordance with the contractual terms and conditions of sale. Since the wholesale sales of inventory to the legacy partner are a separate performance obligation in our management and services agreement with the legacy partner, we considered the appropriate allocation of consideration to wholesale inventory sales. We concluded that the difference between the stand-alone-selling price of the wholesale inventory and the contractual prices was not material. Within our legacy segment services and plans revenues, eye exam services sold to retail customers covered by a managed care payor are recognized identically to similar sales in the owned & host segment. Corporate/Other Revenues from our non-reportable corporate/other segment are attributable to wholly owned subsidiaries Arlington Contact Lens Services, Inc. (“AC Lens”) and FirstSight Vision Services, Inc. (“FirstSight”). AC Lens sells contact lenses and optical accessory products to retail customers through e-commerce. AC Lens also distributes contact lenses to Walmart and Sam’s Club under fee for services arrangements, reports revenue on a gross basis and is the principal in the arrangement since AC Lens controls the products in those transactions before the products are transferred to the customer. FirstSight issues individual vision care benefit plans in connection with our America’s Best operations in California, and provides or arranges for the provision of optometric services at certain optometric offices next to Walmart and Sam’s Club stores in California. Revenues Recognized Over Time Owned & Host Within our owned & host segment, services and plans revenues include revenues from product protection plans (i.e. warranties), eyecare club memberships and HMO membership fees. We offer extended warranty plans in our owned & host segment that generally provide for repair and replacement of eyeglasses for primarily a one-year term after purchase. We recognize service revenue under these programs on a straight-line basis over the warranty or service period which is consistent with our efforts expended to satisfy the obligation. Amounts collected in advance for these programs are reported as deferred revenue in the accompanying condensed consolidated balance sheets. We offer three- and five-year eyecare club memberships in our owned & host segment to our contact lens customers. For these plans we apply the guidance in ASC 606 to a portfolio of contracts with similar characteristics. We use estimates and assumptions when accounting for a portfolio that reflect the size and composition of the portfolio of contracts. We selected the portfolio approach because our historical club membership data demonstrated that our club customers behave similarly, such that the difference between the portfolio approach and applying ASC 606 to each contract is not material. We recognize revenue across the contract portfolio based on the value delivered to the customers relative to the remaining services promised under the membership program. We determine the value delivered based on the expected timing and amount of customer usage of eyecare club benefits over the terms of the contracts. Under previous guidance, we recognized revenue for eyecare club memberships on a ratable basis over the service period. Under the new guidance the timing of revenue for three- and five-year eyecare club memberships will be accelerated when compared to straight-line amortization. This change is not expected to have a significant impact on our ongoing consolidated results of operations. The cumulative effect and the impact on revenues is described in the impact section below. Legacy Sales of services and plans in our legacy segment include fees earned for managing the operations of our legacy partner. These fees are recorded on a net basis and are based primarily on sales of products and product protection plans to non-managed care customers. We determined that under the terms of the arrangement our legacy partner controls the products and services in the transaction with the retail customer and therefore we act as the agent in those transactions. We recognize this service revenue using the “right to invoice” method allowed under ASC 606 because our right to payment corresponds directly with the value of the management services provided to our legacy partner. Impact on Condensed Consolidated Financial Statements The following table summarizes the cumulative effect of adoption of ASC 606 on the Company’s condensed consolidated balance sheet as of June 30, 2018 , which reflects the change in timing of revenue recognition relating to eyecare club memberships. In thousands With ASC 606 Adoption Without ASC 606 Adoption Impact of Adoption Current liabilities: Deferred Revenue $ 53,221 $ 68,572 $ (15,351 ) Total current liabilities $ 189,264 $ 204,615 $ (15,351 ) Other non-current liabilities: Deferred Revenue $ 20,496 $ 32,288 $ (11,792 ) Deferred income taxes, net $ 91,235 $ 84,281 $ 6,954 Total other non-current liabilities $ 154,025 $ 158,863 $ (4,838 ) Stockholders' equity: Retained earnings $ 94,296 $ 74,107 $ 20,189 Total stockholders' equity $ 729,587 $ 709,398 $ 20,189 The following table summarizes the impact of adoption on the Company’s condensed consolidated statement of operations for the three months ended June 30, 2018 : In thousands, except earnings per share With ASC 606 Adoption Without ASC 606 Adoption Impact of Adoption Net sales of services and plans $ 66,124 $ 65,576 $ 548 Total net revenue $ 385,532 $ 384,984 $ 548 Income from operations $ 25,793 $ 25,245 $ 548 Earnings before income taxes $ 16,369 $ 15,821 $ 548 Income tax provision $ 3,292 $ 3,432 $ (140 ) Net income $ 13,077 $ 12,669 $ 408 Earnings per share: Basic $ 0.17 $ 0.17 $ — Diluted $ 0.17 $ 0.16 $ 0.01 The following table summarizes the impact of adoption on the Company’s condensed consolidated statement of operation for the six months ended June 30, 2018 : In thousands, except earnings per share With ASC 606 Adoption Without ASC 606 Adoption Impact of Adoption Net sales of services and plans $ 135,322 $ 133,955 $ 1,367 Total net revenue $ 793,507 $ 792,140 $ 1,367 Income from operations $ 65,436 $ 64,069 $ 1,367 Earnings before income taxes $ 46,699 $ 45,332 $ 1,367 Income tax provision $ 8,575 $ 8,925 $ (350 ) Net income $ 38,124 $ 37,107 $ 1,017 Earnings per share: Basic $ 0.51 $ 0.49 $ 0.02 Diluted $ 0.49 $ 0.48 $ 0.01 There were no other material impacts on our condensed consolidated financial statements as a result of our adoption of this new guidance. Contract Assets and Liabilities The Company’s contract assets and contract liabilities primarily result from timing differences between the performance of our obligations and the customer’s payment. Accounts Receivable Accounts receivable associated with revenues consist primarily of trade receivables and credit card receivables. Trade receivables consist primarily of receivables from managed care payors and receivables from major retailers. Trade receivables and credit card receivables are included in accounts receivable, net, on our condensed consolidated balance sheets, and are presented separately in Note 2. “Details of Certain Balance Sheet Accounts.” Accounts receivable are reduced by allowances for amounts that may become uncollectible. Estimates of our allowance for uncollectible accounts are based on our historical and current operating, billing, and collection trends. Impairment losses recognized on our receivables were approximately $1.7 million and $3.3 million for the three and six months ended June 30, 2018 and $1.5 million and $2.6 million for the three and six months ended July 1, 2017 , respectively. There was no impact of adoption of ASC 606 on accounts receivable, net. Unsatisfied Performance Obligations (Contract Liabilities) Our retail customers generally make payments for prescription eyewear products at the time they place an order. Amounts we collect in advance for undelivered merchandise are reported as unearned revenue in the accompanying condensed consolidated balance sheets. Unearned revenue at the end of a reporting period is estimated based on delivery times throughout the current month and generally ranges from four to 10 days. All unearned revenue at the end of a reporting period is recognized in the next fiscal period. There was no impact of adoption of ASC 606 on our unearned revenue accounts. Our contract liabilities also consist of deferred revenue on services and plans obligations, primarily product protection plans and eyecare club memberships. The unamortized portion of amounts we collect in advance for these services and plans are reported as deferred revenue in the accompanying condensed consolidated balance sheets (current and non- current portions). Our deferred revenue balance as of June 30, 2018 was $73.7 million . We expect future revenue recognition of this balance of $34.0 million , $28.2 million , $9.8 million , $1.5 million and $0.2 million in fiscal years 2018 , 2019 , 2020 , 2021 , and 2022 respectively. We recognized $26.1 million and $52.0 million of previously deferred revenues for the three and six months ended June 30, 2018 , respectively.

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2018
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies From time to time, the Company is involved in various legal proceedings incidental to its business. The Company reviews the status of its legal proceedings and records a provision for a liability when it is considered probable that both a liability has been incurred and the amount of the loss can be reasonably estimated. The Company’s FirstSight subsidiary is a defendant in a purported class action in the U.S. District Court for the Southern District of California that alleges that FirstSight participated in arrangements that caused the illegal delivery of eye examinations and that FirstSight thereby violated, among other laws, the corporate practice of optometry and the unfair competition and false advertising laws of California. On March 23, 2017 , the court granted the motion to dismiss previously filed by FirstSight and dismissed the complaint with prejudice. The plaintiffs filed an appeal to the U.S. Court of Appeals for the Ninth Circuit in April 2017. In July 2018, the U.S. Court of Appeals for the Ninth Circuit vacated in part, and reversed in part, the district court’s dismissal and remanded for further proceedings. The Company believes that the claims are without merit and intends to continue to defend the litigation vigorously. In May 2017 , a complaint was filed against the Company and other defendants alleging, on behalf of a proposed class of consumers who purchased contact lenses online, that 1-800 Contacts, Inc. entered into a series of agreements with the other defendants, including the Company’s AC Lens subsidiary, to suppress certain online advertising and that each defendant thereby engaged in anticompetitive conduct in violation of the Sherman Antitrust Act (the “1-800 Contacts Matter”). The Company has settled the 1-800 Contacts Matter for $7.0 million , without admitting liability. Accordingly, the Company recorded a $7.0 million charge in the second quarter of fiscal year 2017. On November 8, 2017 , the court in the 1-800 Contacts Matter entered an order preliminarily approving the settlement agreement, subject to a settlement hearing. Pursuant to this order, the Company deposited 50% of the settlement amount, or $3.5 million , into an escrow account, to be distributed subject to and in accordance with the terms of the settlement agreement and any further order of the court.

Segment Reporting

Segment Reporting	6 Months Ended
	Jun. 30, 2018
Segment Reporting [Abstract]
Segment Reporting	Segment Reporting The Company’s reportable segments were determined on the same basis as used by the Chief Operating Decision Maker (“CODM”) to evaluate performance internally. Our operations consist of two reportable segments: • Owned & host store brands - Our owned brands consist of our America’s Best and Eyeglass World operating segments. Our host brands consist of our Vista Optical operating segments at certain U.S. Military Branches and inside Fred Meyer stores. We have aggregated our owned and host operating segments into a single reportable segment due to similar economic characteristics and similarity of the nature of products and services, production processes, class of customers, regulatory environment, and distribution methods of those brands. • Legacy - The Company manages the operations of 227 legacy retail vision centers within Walmart stores. We earn management fees as a result of providing such services and therefore we record revenue related to sales of products and product protection plans to our legacy partner’s customers on a net basis. We also sell to our legacy partner wholesale merchandise that is stocked in retail locations, and provide central lab processing services for the finished eyeglasses and frames expected to be sold to our legacy partner’s customers. We lease space from our legacy partner within or adjacent to each of the locations we manage and use this space for the provision of optometric examination services. Our legacy agreements were renewed on January 13, 2017 , and expire on August 23, 2020 , subject to extension pursuant to the terms of the agreements. Sales of services and plans in our legacy segment consist of fees earned for managing the operations of our legacy partner and revenues associated with the provision of eye exams. Revenue associated with managing operations of our legacy partner were $9.1 million and $18.4 million for the three and six months ended June 30, 2018 and $9.5 million and $19.2 million for the three and six months ended July 1, 2017 , respectively. During the six months ended June 30, 2018 , sales associated with our legacy partner arrangement represented 10.3% of consolidated net revenue. This exposes us to concentration of customer risk. The “Corporate/Other” category includes the results of operations of our other operating segments and corporate overhead support. The “Reconciliations” category represents other adjustments to reportable segment results necessary for the presentation of consolidated financial results in accordance with U.S. GAAP for the two reportable segments. Revenues from the Corporate/Other segments are attributable to the AC Lens and FirstSight operating segments and the Company’s corporate function. AC Lens primarily sells contact lenses, eyeglasses and optical accessory products to retail customers through e-commerce. AC Lens also distributes contact lenses to Walmart and Sam’s Club under fee for services arrangements. FirstSight sells single service health plans in connection with the operations of America’s Best in California, arranges for the provision of eye exams at retail locations throughout California and also sells contact lenses to its members in certain locations. None of those segments met the quantitative thresholds for determining reportable segments for any of the periods presented. Our reportable segment profit measure is EBITDA, or net revenue, less cost applicable to revenue, less selling, general and administrative costs. Depreciation and amortization, asset impairment, litigation settlement and other corporate costs that are not allocated to the reportable segments, including interest expense and debt issuance costs are excluded from segment EBITDA. There are no transactions between our reportable segments. There are no differences between the measurement of our reportable segments’ assets and consolidated assets. There have been no changes from prior periods in the measurement methods used to determine reportable segment profit or loss, and there have been no asymmetrical allocations to segments. The following is a summary of certain financial data for each of our segments. Reportable segment information is presented on the same basis as our condensed consolidated financial statements, except for net revenue, which is presented on a cash basis, excluding the effects of unearned and deferred revenue, consistent with the basis on which the CODM regularly reviews segment performance. Asset information is not included in the following summary since the CODM does not regularly review such information for the reportable segments. Three Months Ended June 30, 2018 In thousands Owned & Host Legacy Corporate/Other Reconciliations Total Segment product revenues $ 236,383 $ 26,156 $ 49,791 $ 7,078 $ 319,408 Segment services and plans revenues 53,230 12,950 973 (1,029 ) 66,124 Total net revenue 289,613 39,106 50,764 6,049 385,532 Cost of products 70,505 12,140 43,540 1,546 127,731 Cost of services and plans 43,481 4,878 969 — 49,328 Total costs applicable to revenue 113,986 17,018 44,509 1,546 177,059 SG&A 112,918 13,420 38,700 — 165,038 Other expense, net — — 296 — 296 EBITDA $ 62,709 $ 8,668 $ (32,741 ) $ 4,503 43,139 Depreciation and amortization 17,346 Interest expense, net 9,424 Income before income taxes $ 16,369 Three Months Ended July 1, 2017 In thousands Owned & Host Legacy Corporate/Other Reconciliations Total Segment product revenues $ 203,389 $ 25,341 $ 44,393 $ 3,837 $ 276,960 Segment services and plans revenues 46,102 12,220 3,989 (1,730 ) 60,581 Total net revenue 249,491 37,561 48,382 2,107 337,541 Cost of products 60,266 12,040 39,234 774 112,314 Cost of services and plans 36,964 3,631 3,499 — 44,094 Total costs applicable to revenue 97,230 15,671 42,733 774 156,408 SG&A 96,517 13,454 34,684 — 144,655 Asset impairment — — 1,000 — 1,000 Litigation settlement — — 7,000 — 7,000 Other expense, net — — 77 — 77 EBITDA $ 55,744 $ 8,436 $ (37,112 ) $ 1,333 28,401 Depreciation and amortization 14,629 Interest expense, net 14,622 (Loss) before income taxes $ (850 ) Six Months Ended June 30, 2018 In thousands Owned & Host Legacy Corporate/Other Reconciliations Total Segment product revenues $ 498,004 $ 55,265 $ 100,570 $ 4,346 $ 658,185 Segment services and plans revenues 112,006 26,599 2,027 (5,310 ) 135,322 Total net revenue 610,010 81,864 102,597 (964 ) 793,507 Costs of products 144,663 25,028 87,850 1,068 258,609 Costs of services and plans 87,127 9,841 1,936 — 98,904 Total costs applicable to revenue 231,790 34,869 89,786 1,068 357,513 SG&A 230,855 26,898 77,387 — 335,140 Other expense, net — — 418 — 418 EBITDA $ 147,365 $ 20,097 $ (64,994 ) $ (2,032 ) 100,436 Depreciation and amortization 35,000 Interest expense, net 18,737 Income before income taxes $ 46,699 Six Months Ended July 1, 2017 In thousands Owned & Host Legacy Corporate/Other Reconciliations Total Segment product revenues $ 438,491 $ 54,325 $ 87,950 $ 2,778 $ 583,544 Segment services and plans revenues 98,296 24,976 8,164 (7,580 ) 123,856 Total net revenue 536,787 79,301 96,114 (4,802 ) 707,400 Costs of products 127,445 25,711 79,417 774 233,347 Costs of services and plans 74,507 7,330 7,032 — 88,869 Total costs applicable to revenue 201,952 33,041 86,449 774 322,216 SG&A 200,317 26,183 67,959 — 294,459 Asset impairment — — 1,000 — 1,000 Debt issuance costs — — 2,702 — 2,702 Litigation settlement — — 7,000 — 7,000 Other expense, net — — 179 — 179 EBITDA $ 134,518 $ 20,077 $ (69,175 ) $ (5,576 ) 79,844 Depreciation and amortization 29,052 Interest expense, net 26,114 Income before income taxes $ 24,678

Earnings Per Share

Earnings Per Share	6 Months Ended
	Jun. 30, 2018
Earnings Per Share [Abstract]
Earnings Per Share	Earnings Per Share Basic earnings per share (“EPS”) is computed by dividing net income by the weighted average number of common shares outstanding for the period. Diluted EPS is computed by dividing net income by the weighted average common shares outstanding for the period and includes the dilutive impact of potential new common shares issuable upon exercise of stock options and vesting of restricted stock units. Potentially dilutive securities are excluded from the computation of diluted EPS if their effect is anti-dilutive. A reconciliation of the numerators and denominators of the basic and diluted EPS calculations is as follows: Three Months Ended Six Months Ended In thousands, except EPS data June 30, 2018 July 1, 2017 June 30, 2018 July 1, 2017 Net income (loss) $ 13,077 $ (1,496 ) $ 38,124 $ 15,574 Weighted average shares outstanding for basic EPS 75,249 56,414 74,983 56,337 Effect of dilutive securities: Stock options 2,540 — 2,817 2,002 Restricted stock 69 — 79 — Weighted average shares outstanding for diluted EPS 77,858 56,414 77,879 58,339 Basic EPS $ 0.17 $ (0.03 ) $ 0.51 $ 0.28 Diluted EPS $ 0.17 $ (0.03 ) $ 0.49 $ 0.27 Anti-dilutive options outstanding excluded from EPS — 2,036 — 107

Accumulated Other Comprehensive

Accumulated Other Comprehensive Loss	6 Months Ended
	Jun. 30, 2018
Equity [Abstract]
Accumulated Other Comprehensive Loss	Accumulated Other Comprehensive Loss Changes in the fair value of the Company’s cash flow hedge derivative instruments since inception are recorded in AOCL. The following table presents the change in AOCL during the three and six months ended June 30, 2018 and July 1, 2017 , respectively: Three Months Ended Six Months Ended In thousands June 30, 2018 July 1, 2017 June 30, 2018 July 1, 2017 Cash flow hedging activity Balance at beginning of period $ (5,244 ) $ (14,760 ) $ (9,868 ) $ (14,556 ) Other comprehensive income (loss) before reclassification 1,749 (2,645 ) 5,842 (3,580 ) Tax effect of other comprehensive (loss) income before reclassification (449 ) 1,092 (1,497 ) 1,450 Amount reclassified from AOCL 1,610 2,896 3,733 3,501 Tax effect of amount reclassified from AOCL (412 ) (1,188 ) (956 ) (1,420 ) Net current period other comprehensive income (loss), net of tax 2,498 155 7,122 (49 ) Balance at end of period $ (2,746 ) $ (14,605 ) $ (2,746 ) $ (14,605 ) Amounts reclassified from AOCL to earnings are included in interest expense in the accompanying condensed consolidated statements of operations. See Note 3. “Fair Value Measurements of Financial Assets and Liabilities” for a description of the Company’s use of cash flow hedging derivatives.

Subsequent Events

Subsequent Events	6 Months Ended
	Jun. 30, 2018
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events Secondary Offering Subsequent to June 30, 2018, we completed an underwritten public offering in which KKR Sponsor and Berkshire Partners LLC and certain management stockholders (“selling stockholders”) sold an aggregate of 16,614,852 shares of our common stock. We did not receive any proceeds from the shares sold by the selling stockholders; however, we incurred offering related expenses of approximately $0.8 million . The secondary offering constituted a vesting event for certain performance-based options, and as a result we expect to incur between $8.5 million to $10.5 million of related non-cash stock-based compensation expense during the three months ending September 29, 2018. We also expect cash expense of between $4.0 million to $5.0 million pursuant to an incentive plan for non-executive management during the three months ending September 29, 2018. Following the completion of the offering, we no longer qualify as a “controlled company” within the meaning of NASDAQ rules.

Description of Business and B17

Description of Business and Basis of Presentation (Policies)	6 Months Ended
	Jun. 30, 2018
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation We prepared the accompanying condensed consolidated financial statements in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) for interim financial information and, therefore, do not include all information and disclosures required by U.S. GAAP for complete consolidated financial statements. The condensed consolidated balance sheet as of December 30, 2017 has been derived from the audited consolidated balance sheet for the fiscal year then ended. These unaudited interim condensed consolidated financial statements reflect all normal and recurring adjustments which are, in the opinion of management, necessary to present fairly the Company’s consolidated financial position as of June 30, 2018 , the consolidated results of operations and comprehensive income (loss) for the three and six months ended June 30, 2018 and July 1, 2017 and its statements of cash flows for the six months ended June 30, 2018 and July 1, 2017 . Certain information and disclosures normally included in our annual consolidated financial statements have been condensed or omitted; however, we believe that the disclosures included herein are adequate to make the information presented not misleading. These interim condensed consolidated financial statements should be read in conjunction with our audited consolidated financial statements and the notes thereto for the fiscal year ended December 30, 2017 included in the Company’s Annual Report on Form 10-K for fiscal year 2017 filed on March 8, 2018. The Company’s significant accounting policies are set forth in Note 1 within those consolidated financial statements. We use the same accounting policies in preparing interim condensed consolidated financial information and annual consolidated financial statements. There were no changes to our significant accounting policies during the six months ended June 30, 2018 , except for the adoption of Accounting Standards Update (“ASU”) No. 2014-09, Revenue from Contracts with Customers and ASU No. 2016-18, Restricted Cash. See “Adoption of New Accounting Pronouncements” below for further discussion. Changes to stockholder’s equity associated with changes in unrealized gains and losses on cash flow hedging instruments, exercises of stock options, and the cumulative effect of adoption of ASU No. 2014-09 are discussed in Note 3. “Fair Value Measurements of Financial Assets and Liabilities,” Note 4. “Stock Incentive Plan,” and in Note 6. “Revenue from Contracts with Customers,” respectively. The condensed consolidated financial statements include our accounts and those of our subsidiaries, all of which are wholly-owned. All intercompany balances and transactions have been eliminated in consolidation.
Fiscal Year	Fiscal Year Our fiscal year consists of 52 or 53 weeks ending on the Saturday closest to December 31. Fiscal year 2018 contains 52 weeks and will end on December 29, 2018 . All three and six month periods presented herein contain 13 and 26 weeks, respectively. All references to years and quarters relate to fiscal periods rather than calendar periods.
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.
Income Taxes	Income Taxes Our effective income tax rate (“ETR”) was 20.1% and (76.0)% and 18.4% and 36.9% during the three and six months ended June 30, 2018 and July 1, 2017 , respectively. The ETR for the three and six months ended June 30, 2018 reflected the reduced federal statutory rate from 35% to 21% as part of the Tax Cuts and Jobs Act of 2017 (“Tax Legislation”), effective for tax years beginning on or after January 1, 2018. Our expected combined statutory federal and state rate was reduced 8.4% and 8.7% due to $1.4 million and $4.1 million of income tax benefit resulting from stock option exercises during the three and six months ended June 30, 2018 , respectively. In comparison, the ETR of (76.0)% for the three months ended July 1, 2017, was due to a $0.5 million valuation allowance on deferred tax assets, as well as an adjustment to our estimated annual ETR. Our ETR for the six months ended July 1, 2017 decreased 5.7% as a result of a $1.4 million benefit associated with a dividend recapitalization bonus payment, partially offset by a $0.5 million valuation allowance on deferred tax assets, as well as an adjustment to our estimated annual ETR. Pursuant to SEC Staff Accounting Bulletin No. 118, Income Tax Accounting Implications of the Tax Legislation, the Company recognized provisional effects of the enactment of the Tax Legislation for which measurement could be reasonably estimated. Although we continue to analyze certain aspects of the Tax Legislation and refine our assessment, the ultimate impact of the legislation may differ from these estimates due to our continued analysis or further regulatory guidance that may be issued as a result of the legislation. Adjustments to the provisional amounts recorded by the Company as of December 30, 2017 that are identified within a subsequent measurement period of up to one year from the enactment date will be included as an adjustment to income tax expense in the period the amounts are determined. There were no adjustments to provisional amounts during the three and six months ended June 30, 2018 .
Recently Issued Accounting Pronouncements	Accounting Pronouncements Revenue from Contracts with Customers In May 2014, the Financial Accounting Standards Board (“FASB”) issued ASU No. 2014-09, Revenue from Contracts with Customers. ASU No. 2014-09 provides new guidance related to the core principle that an entity recognizes revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. It also requires additional disclosure about the nature, amount, timing, and uncertainty of revenue and cash flows arising from customer contracts, including significant judgments and changes in judgments. Under the new guidance, there is a five-step model to apply to revenue recognition, consisting of: (1) determination of whether a contract, an agreement between two or more parties that creates legally enforceable rights and obligations, exists; (2) identification of the performance obligations in the contract; (3) determination of the transaction price; (4) allocation of the transaction price to the performance obligations in the contract; and (5) recognition of revenue when (or as) the performance obligation is satisfied. The Company adopted this new guidance in the first quarter of 2018 using the modified retrospective transition method. The adoption resulted in $14.0 million and $11.8 million decrease in current and non-current deferred revenue, respectively, for certain contracts where we satisfy performance obligations over time and a related $6.6 million increase in deferred income tax liability, resulting in a net $19.2 million increase to retained earnings on the condensed consolidated balance sheet as of December 31, 2017. Our results of operations for the reported periods after December 31, 2017 are presented under this amended guidance, while prior period amounts are not adjusted and continue to be reported in accordance with historical accounting guidance. Adoption of this new guidance did not result in significant changes to our accounting policies, business processes, systems or controls, or have a material impact on our results of operations and cash flows. The impact of adopting the amended guidance primarily relates to the timing of revenue recognition for our eyecare club memberships, which comprised approximately 3% of our consolidated net revenue during the most recent three fiscal years. See Note 6. “Revenue From Contracts with Customers” for additional information. Restricted Cash In November 2016, the FASB issued ASU No. 2016-18, Restricted Cash . This new guidance requires that a statement of cash flows explain the change during the period in the total of cash, cash equivalents, and amounts generally described as restricted cash or restricted cash equivalents. The Company adopted this new guidance during the first quarter of 2018 using full retrospective application to each period presented. The adoption of this new guidance did not have a material effect on the Company’s financial condition, results of operations, or cash flows. Future Adoption of Accounting Pronouncements Leases In February 2016, the FASB issued ASU No. 2016-02, Leases . This new guidance establishes a right-of-use (“ROU”) model that requires a lessee to record a ROU asset and a lease liability on the balance sheet for all leases with terms longer than 12 months. Leases will be classified as either financing or operating, with such classification affecting the pattern of expense recognition in the statement of operations. Disclosure of key information about leasing arrangements will also be required. This new guidance is effective for fiscal years beginning after December 15, 2018, and interim reporting periods within that fiscal year. In July 2018, the FASB issued ASU 2018-11, “Leases: Targeted Improvements,” as an amendment to ASU 2016-02, “Leases,” which provides entities with an additional transition method to recognize a cumulative-effect adjustment to the opening balance of retained earnings in the period of adoption. We will adopt this new guidance in the first quarter of 2019. We have established a cross-functional team to evaluate and implement the new standard. We are in the process of implementing changes to our systems and processes in conjunction with our review of lease agreements to support recognition and disclosure upon adoption. We do not expect the adoption to have a significant impact on the recognition, measurement or presentation of lease expenses within our consolidated statements of operations. While we continue to assess all potential impacts of the standard, we currently believe the most significant impact relates to recording lease assets and related liabilities on the condensed consolidated balance sheets.

Details of Certain Balance Sh18

Details of Certain Balance Sheet Accounts (Tables)	6 Months Ended
	Jun. 30, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule of Accounts Receivable, Net	In thousands As of As of Accounts receivable, net: Trade receivables $ 32,619 $ 28,862 Credit card receivables 8,327 10,459 Tenant improvement allowances receivable 4,890 4,794 Other receivables 2,355 2,936 Allowance for uncollectible accounts (3,116 ) (3,858 ) $ 45,075 $ 43,193
Schedule of Inventories	In thousands As of As of Inventories: Raw materials and work in process (1) $ 43,062 $ 43,953 Finished goods 51,847 47,198 $ 94,909 $ 91,151 (1) Due to the immaterial amount of estimated work in process and the short lead times for the conversion of raw materials to finished goods, the Company does not separately present raw materials and work in process.
Schedule of Property and Equipment, Net	In thousands As of As of Property and equipment, net: Land and building $ 3,608 $ 3,608 Equipment 238,707 220,088 Furniture and fixtures 45,785 42,708 Leasehold improvements 172,693 155,369 Construction in progress 27,557 18,375 Property under capital leases 17,422 11,756 505,772 451,904 Less accumulated depreciation 177,737 147,772 $ 328,035 $ 304,132
Schedule of Other Payables and Accrued Expenses	In thousands As of As of Other payables and accrued expenses: Employee compensation and benefits $ 23,481 $ 21,134 Advertising 2,046 2,900 Self-insurance reserves 6,793 6,854 Reserves for customer returns and remakes 6,256 4,565 Capital expenditures 9,264 10,782 Legacy management and services agreement 5,253 6,000 Deferred rental expenses 908 1,140 Fair value of derivative liabilities 4,077 6,969 Sales and use taxes 1,185 1,218 Supplies and other store support expenses 1,953 3,014 Litigation settlements 3,878 3,942 Other 7,311 9,093 $ 72,405 $ 77,611
Schedule of Other Non-current Liabilities	In thousands As of As of Other non-current liabilities: Fair value of derivative liabilities $ 2,471 $ 9,155 Tenant improvements (1) 24,974 22,894 Deferred rental expenses 8,050 7,246 Self-insurance reserves 4,713 4,564 Other 2,086 2,185 $ 42,294 $ 46,044 (1) Obligations for tenant improvements are amortized as a reduction of rental expense over the respective lease term.

Fair Value Measurements of Fi19

Fair Value Measurements of Financial Assets and Liabilities (Tables)	6 Months Ended
	Jun. 30, 2018
Fair Value Disclosures [Abstract]
Schedule of Fair Value of Cash Flow Hedge Derivative Contracts	Our cash flow hedge position related to interest rate derivative contracts is as follows: In thousands Notional Amount Final Maturity Date Other Payables and Accrued Expenses Other Liabilities AOCL, Net of Tax (1) As of $ 465,000 March 2021 $ 4,077 $ 2,471 $ 2,746 As of $ 500,000 March 2021 $ 6,969 $ 9,155 $ 9,868 (1) Includes stranded tax benefit of $2.1 million within AOCL from adopting provisions of the Tax Legislation of 2017 during the year ended December 30, 2017.

Stock Incentive Plan (Tables)

Stock Incentive Plan (Tables)	6 Months Ended
	Jun. 30, 2018
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Schedule of Stock Option Activity	The following presents a roll-forward of stock options for the six months ended June 30, 2018 : Options issued and outstanding Rollover (1) Service-Based Performance-Based Total Balance, December 30, 2017 169,049 3,822,915 6,524,152 10,516,116 Exercised (38,490 ) (661,663 ) — (700,153 ) Forfeited — (61,641 ) (290,890 ) (352,531 ) Balance, June 30, 2018 130,559 3,099,611 6,233,262 9,463,432 Options vested and exercisable Balance, December 30, 2017 169,049 1,631,023 43,478 1,843,550 Vested — 718,856 — 718,856 Exercised (38,490 ) (661,663 ) — (700,153 ) Forfeited — (4,548 ) — (4,548 ) Balance, June 30, 2018 130,559 1,683,668 43,478 1,857,705 (1) Reflects options under the Vision Holding Corp. Amended and Restated 2013 Equity Incentive Plan

Related Party Transactions (Tab

Related Party Transactions (Tables)	6 Months Ended
	Jun. 30, 2018
Related Party Transactions [Abstract]
Schedule of Related Party Agreements with Equity Sponsors	Three Months Ended Six Months Ended In thousands June 30, 2018 July 1, 2017 June 30, 2018 July 1, 2017 KKR Sponsor $ — $ 220 $ — $ 2,773 Berkshire Partners LLC $ — $ 52 $ — $ 104

Revenue From Contracts With C22

Revenue From Contracts With Customers (Tables)	6 Months Ended
	Jun. 30, 2018
Revenue from Contract with Customer [Abstract]
Schedule of Disaggregation of Revenues	Disaggregation of Revenues: In thousands Three Months Ended Six Months Ended Revenues recognized at a point in time $ 350,345 $ 723,110 Revenues recognized over time 35,187 70,397 Total net revenue $ 385,532 $ 793,507
Schedule of Impact of Adoption of New Accounting Pronouncement	Impact on Condensed Consolidated Financial Statements The following table summarizes the cumulative effect of adoption of ASC 606 on the Company’s condensed consolidated balance sheet as of June 30, 2018 , which reflects the change in timing of revenue recognition relating to eyecare club memberships. In thousands With ASC 606 Adoption Without ASC 606 Adoption Impact of Adoption Current liabilities: Deferred Revenue $ 53,221 $ 68,572 $ (15,351 ) Total current liabilities $ 189,264 $ 204,615 $ (15,351 ) Other non-current liabilities: Deferred Revenue $ 20,496 $ 32,288 $ (11,792 ) Deferred income taxes, net $ 91,235 $ 84,281 $ 6,954 Total other non-current liabilities $ 154,025 $ 158,863 $ (4,838 ) Stockholders' equity: Retained earnings $ 94,296 $ 74,107 $ 20,189 Total stockholders' equity $ 729,587 $ 709,398 $ 20,189 The following table summarizes the impact of adoption on the Company’s condensed consolidated statement of operations for the three months ended June 30, 2018 : In thousands, except earnings per share With ASC 606 Adoption Without ASC 606 Adoption Impact of Adoption Net sales of services and plans $ 66,124 $ 65,576 $ 548 Total net revenue $ 385,532 $ 384,984 $ 548 Income from operations $ 25,793 $ 25,245 $ 548 Earnings before income taxes $ 16,369 $ 15,821 $ 548 Income tax provision $ 3,292 $ 3,432 $ (140 ) Net income $ 13,077 $ 12,669 $ 408 Earnings per share: Basic $ 0.17 $ 0.17 $ — Diluted $ 0.17 $ 0.16 $ 0.01 The following table summarizes the impact of adoption on the Company’s condensed consolidated statement of operation for the six months ended June 30, 2018 : In thousands, except earnings per share With ASC 606 Adoption Without ASC 606 Adoption Impact of Adoption Net sales of services and plans $ 135,322 $ 133,955 $ 1,367 Total net revenue $ 793,507 $ 792,140 $ 1,367 Income from operations $ 65,436 $ 64,069 $ 1,367 Earnings before income taxes $ 46,699 $ 45,332 $ 1,367 Income tax provision $ 8,575 $ 8,925 $ (350 ) Net income $ 38,124 $ 37,107 $ 1,017 Earnings per share: Basic $ 0.51 $ 0.49 $ 0.02 Diluted $ 0.49 $ 0.48 $ 0.01

Segment Reporting (Tables)

Segment Reporting (Tables)	6 Months Ended
	Jun. 30, 2018
Segment Reporting [Abstract]
Schedule of Financial Data by Segment	The following is a summary of certain financial data for each of our segments. Reportable segment information is presented on the same basis as our condensed consolidated financial statements, except for net revenue, which is presented on a cash basis, excluding the effects of unearned and deferred revenue, consistent with the basis on which the CODM regularly reviews segment performance. Asset information is not included in the following summary since the CODM does not regularly review such information for the reportable segments. Three Months Ended June 30, 2018 In thousands Owned & Host Legacy Corporate/Other Reconciliations Total Segment product revenues $ 236,383 $ 26,156 $ 49,791 $ 7,078 $ 319,408 Segment services and plans revenues 53,230 12,950 973 (1,029 ) 66,124 Total net revenue 289,613 39,106 50,764 6,049 385,532 Cost of products 70,505 12,140 43,540 1,546 127,731 Cost of services and plans 43,481 4,878 969 — 49,328 Total costs applicable to revenue 113,986 17,018 44,509 1,546 177,059 SG&A 112,918 13,420 38,700 — 165,038 Other expense, net — — 296 — 296 EBITDA $ 62,709 $ 8,668 $ (32,741 ) $ 4,503 43,139 Depreciation and amortization 17,346 Interest expense, net 9,424 Income before income taxes $ 16,369 Three Months Ended July 1, 2017 In thousands Owned & Host Legacy Corporate/Other Reconciliations Total Segment product revenues $ 203,389 $ 25,341 $ 44,393 $ 3,837 $ 276,960 Segment services and plans revenues 46,102 12,220 3,989 (1,730 ) 60,581 Total net revenue 249,491 37,561 48,382 2,107 337,541 Cost of products 60,266 12,040 39,234 774 112,314 Cost of services and plans 36,964 3,631 3,499 — 44,094 Total costs applicable to revenue 97,230 15,671 42,733 774 156,408 SG&A 96,517 13,454 34,684 — 144,655 Asset impairment — — 1,000 — 1,000 Litigation settlement — — 7,000 — 7,000 Other expense, net — — 77 — 77 EBITDA $ 55,744 $ 8,436 $ (37,112 ) $ 1,333 28,401 Depreciation and amortization 14,629 Interest expense, net 14,622 (Loss) before income taxes $ (850 ) Six Months Ended June 30, 2018 In thousands Owned & Host Legacy Corporate/Other Reconciliations Total Segment product revenues $ 498,004 $ 55,265 $ 100,570 $ 4,346 $ 658,185 Segment services and plans revenues 112,006 26,599 2,027 (5,310 ) 135,322 Total net revenue 610,010 81,864 102,597 (964 ) 793,507 Costs of products 144,663 25,028 87,850 1,068 258,609 Costs of services and plans 87,127 9,841 1,936 — 98,904 Total costs applicable to revenue 231,790 34,869 89,786 1,068 357,513 SG&A 230,855 26,898 77,387 — 335,140 Other expense, net — — 418 — 418 EBITDA $ 147,365 $ 20,097 $ (64,994 ) $ (2,032 ) 100,436 Depreciation and amortization 35,000 Interest expense, net 18,737 Income before income taxes $ 46,699 Six Months Ended July 1, 2017 In thousands Owned & Host Legacy Corporate/Other Reconciliations Total Segment product revenues $ 438,491 $ 54,325 $ 87,950 $ 2,778 $ 583,544 Segment services and plans revenues 98,296 24,976 8,164 (7,580 ) 123,856 Total net revenue 536,787 79,301 96,114 (4,802 ) 707,400 Costs of products 127,445 25,711 79,417 774 233,347 Costs of services and plans 74,507 7,330 7,032 — 88,869 Total costs applicable to revenue 201,952 33,041 86,449 774 322,216 SG&A 200,317 26,183 67,959 — 294,459 Asset impairment — — 1,000 — 1,000 Debt issuance costs — — 2,702 — 2,702 Litigation settlement — — 7,000 — 7,000 Other expense, net — — 179 — 179 EBITDA $ 134,518 $ 20,077 $ (69,175 ) $ (5,576 ) 79,844 Depreciation and amortization 29,052 Interest expense, net 26,114 Income before income taxes $ 24,678

Earnings Per Share (Tables)

Earnings Per Share (Tables)	6 Months Ended
	Jun. 30, 2018
Earnings Per Share [Abstract]
Schedule of Reconciliation of Basic and Diluted EPS Calculations	A reconciliation of the numerators and denominators of the basic and diluted EPS calculations is as follows: Three Months Ended Six Months Ended In thousands, except EPS data June 30, 2018 July 1, 2017 June 30, 2018 July 1, 2017 Net income (loss) $ 13,077 $ (1,496 ) $ 38,124 $ 15,574 Weighted average shares outstanding for basic EPS 75,249 56,414 74,983 56,337 Effect of dilutive securities: Stock options 2,540 — 2,817 2,002 Restricted stock 69 — 79 — Weighted average shares outstanding for diluted EPS 77,858 56,414 77,879 58,339 Basic EPS $ 0.17 $ (0.03 ) $ 0.51 $ 0.28 Diluted EPS $ 0.17 $ (0.03 ) $ 0.49 $ 0.27 Anti-dilutive options outstanding excluded from EPS — 2,036 — 107

Accumulated Other Comprehensi25

Accumulated Other Comprehensive Loss (Tables)	6 Months Ended
	Jun. 30, 2018
Equity [Abstract]
Schedule of Accumulated Other Comprehensive Loss	The following table presents the change in AOCL during the three and six months ended June 30, 2018 and July 1, 2017 , respectively: Three Months Ended Six Months Ended In thousands June 30, 2018 July 1, 2017 June 30, 2018 July 1, 2017 Cash flow hedging activity Balance at beginning of period $ (5,244 ) $ (14,760 ) $ (9,868 ) $ (14,556 ) Other comprehensive income (loss) before reclassification 1,749 (2,645 ) 5,842 (3,580 ) Tax effect of other comprehensive (loss) income before reclassification (449 ) 1,092 (1,497 ) 1,450 Amount reclassified from AOCL 1,610 2,896 3,733 3,501 Tax effect of amount reclassified from AOCL (412 ) (1,188 ) (956 ) (1,420 ) Net current period other comprehensive income (loss), net of tax 2,498 155 7,122 (49 ) Balance at end of period $ (2,746 ) $ (14,605 ) $ (2,746 ) $ (14,605 )

Description of Business and B26

Description of Business and Basis of Presentation - Nature of Operations (Details)	Jun. 30, 2018storestore_brand	Dec. 30, 2017store
Accounting Policies [Abstract]
Number of retail optical locations | store	1,050	1,013
Number of store brands | store_brand	5

Description of Business and B27

Description of Business and Basis of Presentation - Income Taxes (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jul. 01, 2017	Jun. 30, 2018	Jul. 01, 2017
Accounting Policies [Abstract]
Effective income tax rate (percent)	20.10%	(76.00%)	18.40%	36.90%
Reduction of effective income tax rate resulting from stock option exercises (percent)	8.40%		8.70%
Income tax benefit resulting from stock option exercises	$ 1.4		$ 4.1
Increase in tax expense related to change in deferred tax asset valuation allowance		$ 0.5		$ 0.5
Reduction of effective income tax rate related to recapitalization dividend (percent)				5.70%
Income tax benefit related to recapitalization dividend				$ 1.4

Description of Business and B28

Description of Business and Basis of Presentation - Revenue from Contracts with Customers (Details) - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2018	Dec. 30, 2017	Dec. 31, 2016	Jan. 01, 2018
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Decrease in deferred revenue, current	$ (53,221)	$ (62,993)
Decrease in deferred revenue, noncurrent	(20,496)	(31,222)
Increase in deferred income taxes, net	91,235	73,648
Increase in retained earnings	94,296	$ 37,145
Impact of Adoption | ASU No. 2014-09
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Decrease in deferred revenue, current	15,351			$ 14,000
Decrease in deferred revenue, noncurrent	11,792			11,800
Increase in deferred income taxes, net	6,954			6,600
Increase in retained earnings	$ 20,189			$ 19,200
Eyecare Club Memberships
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Percentage of consolidated net revenue	3.00%	3.00%	3.00%

Details of Certain Balance Sh29

Details of Certain Balance Sheet Accounts - Accounts Receivable, Net (Details) - USD ($) $ in Thousands	Jun. 30, 2018	Dec. 30, 2017
Accounts receivable, net:
Allowance for uncollectible accounts	$ (3,116)	$ (3,858)
Accounts receivable, net of allowances	45,075	43,193
Trade receivables
Accounts receivable, net:
Accounts receivable, gross	32,619	28,862
Credit card receivables
Accounts receivable, net:
Accounts receivable, gross	8,327	10,459
Tenant improvement allowances receivable
Accounts receivable, net:
Accounts receivable, gross	4,890	4,794
Other receivables
Accounts receivable, net:
Accounts receivable, gross	$ 2,355	$ 2,936

Details of Certain Balance Sh30

Details of Certain Balance Sheet Accounts - Inventories (Details) - USD ($) $ in Thousands	Jun. 30, 2018	Dec. 30, 2017
Inventories:
Raw materials and work in process	$ 43,062	$ 43,953
Finished goods	51,847	47,198
Inventories	$ 94,909	$ 91,151

Details of Certain Balance Sh31

Details of Certain Balance Sheet Accounts - Property and Equipment, Net (Details) - USD ($) $ in Thousands	Jun. 30, 2018	Dec. 30, 2017
Property and equipment, net:
Property and equipment, gross	$ 505,772	$ 451,904
Less accumulated depreciation	177,737	147,772
Property and equipment, net	328,035	304,132
Land and building
Property and equipment, net:
Property and equipment, gross	3,608	3,608
Equipment
Property and equipment, net:
Property and equipment, gross	238,707	220,088
Furniture and fixtures
Property and equipment, net:
Property and equipment, gross	45,785	42,708
Leasehold improvements
Property and equipment, net:
Property and equipment, gross	172,693	155,369
Construction in progress
Property and equipment, net:
Property and equipment, gross	27,557	18,375
Property under capital leases
Property and equipment, net:
Property and equipment, gross	$ 17,422	$ 11,756

Details of Certain Balance Sh32

Details of Certain Balance Sheet Accounts - Other Payables and Accrued Expenses (Details) - USD ($) $ in Thousands	Jun. 30, 2018	Dec. 30, 2017
Other payables and accrued expenses:
Employee compensation and benefits	$ 23,481	$ 21,134
Advertising	2,046	2,900
Self-insurance reserves	6,793	6,854
Reserves for customer returns and remakes	6,256	4,565
Capital expenditures	9,264	10,782
Legacy management and services agreement	5,253	6,000
Deferred rental expenses	908	1,140
Fair value of derivative liabilities	4,077	6,969
Sales and use taxes	1,185	1,218
Supplies and other store support expenses	1,953	3,014
Litigation settlements	3,878	3,942
Other	7,311	9,093
Total other payables and accrued expenses	$ 72,405	$ 77,611

Details of Certain Balance Sh33

Details of Certain Balance Sheet Accounts - Other Non-Current Liabilities (Details) - USD ($) $ in Thousands	Jun. 30, 2018	Dec. 30, 2017
Other non-current liabilities:
Fair value of derivative liabilities	$ 2,471	$ 9,155
Tenant improvements	24,974	22,894
Deferred rental expenses	8,050	7,246
Self-insurance reserves	4,713	4,564
Other	2,086	2,185
Total other non-current liabilities	$ 42,294	$ 46,044

Fair Value Measurements of Fi34

Fair Value Measurements of Financial Assets and Liabilities - Narrative (Details) - Level 2 - USD ($) $ in Millions	Jun. 30, 2018	Dec. 30, 2017
Term Loan | Estimated Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt instruments	$ 567.7	$ 570.2
Term Loan | Carrying Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt instruments	555.3	557.3
Capital Lease Obligations | Estimated Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt instruments	22.9	14
Capital Lease Obligations | Carrying Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt instruments	$ 19	$ 12

Fair Value Measurements of Fi35

Fair Value Measurements of Financial Assets and Liabilities - Interest Rate Derivatives (Details)	Jun. 30, 2018USD ($)agreement	Mar. 31, 2018USD ($)	Dec. 30, 2017USD ($)
Derivative [Line Items]
Estimated reclassification from AOCL to earnings in next 12 months	$ 3,000,000
Interest Rate Swap | Cash Flow Hedges
Derivative [Line Items]
Number of interest rate swap agreements | agreement	3
Interest Rate Swap | Designated as Hedging Instrument | Cash Flow Hedges
Derivative [Line Items]
Notional amount	$ 465,000,000		$ 500,000,000
Interest Rate Swap One | Designated as Hedging Instrument | Cash Flow Hedges
Derivative [Line Items]
Notional amount		$ 140,000,000	$ 175,000,000

Fair Value Measurements of Fi36

Fair Value Measurements of Financial Assets and Liabilities - Cash Flow Hedge Position of Interest Rate Derivative Contracts (Details) - USD ($)	Jun. 30, 2018	Dec. 30, 2017
Derivatives, Fair Value [Line Items]
Fair value of derivative liabilities, current	$ 4,077,000	$ 6,969,000
Fair value of derivative liabilities, noncurrent	2,471,000	9,155,000
Stranded tax benefit in AOCL	2,100,000
Interest Rate Swap | Designated as Hedging Instrument | Cash Flow Hedges
Derivatives, Fair Value [Line Items]
Notional amount	465,000,000	500,000,000
Fair value of derivative liabilities, current	4,077,000	6,969,000
Fair value of derivative liabilities, noncurrent	2,471,000	9,155,000
Hedge position in AOCL, net of tax	$ 2,746,000	$ 9,868,000

Stock Incentive Plan - Narrativ

Stock Incentive Plan - Narrative (Details) - USD ($) $ / shares in Units, $ in Millions	6 Months Ended	12 Months Ended
	Jun. 30, 2018	Dec. 30, 2017
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Tax benefit from option exercises	$ 4.1
Number of option awards issued and outstanding (shares)	9,463,432	10,516,116
2014 Stock Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Aggregate number of shares reserved under stock incentive plan (shares)	10,988,827
Number of shares available for future grants (shares)	421,983
2017 Omnibus Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Aggregate number of shares reserved under stock incentive plan (shares)	4,000,000
Number of shares available for future grants (shares)	3,729,879
Number of option awards issued and outstanding (shares)	92,443
Service-Based and Performance-Based
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Exercise price of options exercised (in usd per share)	$ 5.04
Intrinsic value of options exercised	$ 19.6
Performance-Based
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of option awards issued and outstanding (shares)	6,233,262	6,524,152
Service-Based
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of option awards issued and outstanding (shares)	3,099,611	3,822,915
Restricted Stock Units (RSUs) [Member] | 2017 Omnibus Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of restricted stock unit awards issued and outstanding (shares)	177,678
Executive Officer | Performance-Based | 2014 Stock Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options granted (shares)		217,390
Percentage of performance-based grant that vested due to targets met (percent)	20.00%

Stock Incentive Plan - Stock Op

Stock Incentive Plan - Stock Option Activity (Details)	6 Months Ended
	Jun. 30, 2018shares
Options issued and outstanding
Outstanding, beginning balance (shares)	10,516,116
Exercised (shares)	(700,153)
Forfeited (shares)	(352,531)
Outstanding, ending balance (shares)	9,463,432
Options vested and exercisable
Exercisable, beginning balance (shares)	1,843,550
Vested (shares)	718,856
Exercised (shares)	(700,153)
Forfeited (shares)	(4,548)
Exercisable, ending balance (shares)	1,857,705
Rollover
Options issued and outstanding
Outstanding, beginning balance (shares)	169,049
Exercised (shares)	(38,490)
Forfeited (shares)	0
Outstanding, ending balance (shares)	130,559
Options vested and exercisable
Exercisable, beginning balance (shares)	169,049
Vested (shares)	0
Exercised (shares)	(38,490)
Forfeited (shares)	0
Exercisable, ending balance (shares)	130,559
Service-Based
Options issued and outstanding
Outstanding, beginning balance (shares)	3,822,915
Exercised (shares)	(661,663)
Forfeited (shares)	(61,641)
Outstanding, ending balance (shares)	3,099,611
Options vested and exercisable
Exercisable, beginning balance (shares)	1,631,023
Vested (shares)	718,856
Exercised (shares)	(661,663)
Forfeited (shares)	(4,548)
Exercisable, ending balance (shares)	1,683,668
Performance-Based
Options issued and outstanding
Outstanding, beginning balance (shares)	6,524,152
Exercised (shares)	0
Forfeited (shares)	(290,890)
Outstanding, ending balance (shares)	6,233,262
Options vested and exercisable
Exercisable, beginning balance (shares)	43,478
Vested (shares)	0
Exercised (shares)	0
Forfeited (shares)	0
Exercisable, ending balance (shares)	43,478

Related Party Transactions - Tr

Related Party Transactions - Transactions With Equity Sponsors (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jul. 01, 2017	Jun. 30, 2018	Jul. 01, 2017
KKR Sponsor
Related Party Transaction [Line Items]
Fees paid to equity sponsors	$ 0	$ 220	$ 0	$ 2,773
Sponsor fees presented in debt issuance costs				2,300
Berkshire Partners LLC
Related Party Transaction [Line Items]
Fees paid to equity sponsors	$ 0	$ 52	$ 0	$ 104

Related Party Transactions - Eq

Related Party Transactions - Equity in Net Assets of Non-Consolidated Investee (Details) - Equity Method Investee - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jul. 01, 2017	Jun. 30, 2018	Jul. 01, 2017	Dec. 30, 2017	Aug. 29, 2017
Related Party Transaction [Line Items]
Interest in investee's net losses	$ 0.4	$ 0.2	$ 0.6	$ 0.3
Equity method investment	$ 1.8		1.8		$ 2.3
Licensing fees in SG&A		$ 0.2	$ 0.2	$ 0.5
Loan receivable						$ 1.5

Revenue From Contracts With C41

Revenue From Contracts With Customers - Disaggregation of Revenues (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jul. 01, 2017	Jun. 30, 2018	Jul. 01, 2017
Disaggregation of Revenue [Line Items]
Net revenue	$ 385,532	$ 337,541	$ 793,507	$ 707,400
Revenues recognized at a point in time
Disaggregation of Revenue [Line Items]
Net revenue	350,345		723,110
Revenues recognized over time
Disaggregation of Revenue [Line Items]
Net revenue	$ 35,187		$ 70,397

Revenue From Contracts With C42

Revenue From Contracts With Customers - Effect of Adoption on Balance Sheet (Details) - USD ($) $ in Thousands	Jun. 30, 2018	Jan. 01, 2018	Dec. 30, 2017
Current liabilities:
Deferred revenue, current	$ 53,221		$ 62,993
Total current liabilities	189,264		211,309
Other non-current liabilities:
Deferred revenue, noncurrent	20,496		31,222
Deferred income taxes, net	91,235		73,648
Total other non-current liabilities	154,025		150,914
Stockholders’ equity:
Retained earnings	94,296		37,145
Total stockholders’ equity	729,587		$ 659,588
Without ASC 606 Adoption
Current liabilities:
Deferred revenue, current	68,572
Total current liabilities	204,615
Other non-current liabilities:
Deferred revenue, noncurrent	32,288
Deferred income taxes, net	84,281
Total other non-current liabilities	158,863
Stockholders’ equity:
Retained earnings	74,107
Total stockholders’ equity	709,398
Impact of Adoption | ASU No. 2014-09
Current liabilities:
Deferred revenue, current	(15,351)	$ (14,000)
Total current liabilities	(15,351)
Other non-current liabilities:
Deferred revenue, noncurrent	(11,792)	(11,800)
Deferred income taxes, net	6,954	6,600
Total other non-current liabilities	(4,838)
Stockholders’ equity:
Retained earnings	20,189	$ 19,200
Total stockholders’ equity	$ 20,189

Revenue From Contracts With C43

Revenue From Contracts With Customers - Effect of Adoption on Statements of Operations (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jul. 01, 2017	Jun. 30, 2018	Jul. 01, 2017
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Net revenue	$ 385,532	$ 337,541	$ 793,507	$ 707,400
Income from operations	25,793	13,772	65,436	53,494
Earnings before income taxes	16,369	(850)	46,699	24,678
Income tax provision	3,292	646	8,575	9,104
Net income	$ 13,077	$ (1,496)	$ 38,124	$ 15,574
Earnings (loss) per share:
Basic (in usd per share)	$ 0.17	$ (0.03)	$ 0.51	$ 0.28
Diluted (in usd per share)	$ 0.17	$ (0.03)	$ 0.49	$ 0.27
Net sales of services and plans
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Net revenue	$ 66,124	$ 60,581	$ 135,322	$ 123,856
Without ASC 606 Adoption
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Net revenue	384,984		792,140
Income from operations	25,245		64,069
Earnings before income taxes	15,821		45,332
Income tax provision	3,432		8,925
Net income	$ 12,669		$ 37,107
Earnings (loss) per share:
Basic (in usd per share)	$ 0.17		$ 0.49
Diluted (in usd per share)	$ 0.16		$ 0.48
Without ASC 606 Adoption | Net sales of services and plans
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Net revenue	$ 65,576		$ 133,955
Impact of Adoption | ASU No. 2014-09
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Net revenue	548		1,367
Income from operations	548		1,367
Earnings before income taxes	548		1,367
Income tax provision	(140)		(350)
Net income	$ 408		$ 1,017
Earnings (loss) per share:
Basic (in usd per share)	$ 0		$ 0.02
Diluted (in usd per share)	$ 0.01		$ 0.01
Impact of Adoption | ASU No. 2014-09 | Net sales of services and plans
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Net revenue	$ 548		$ 1,367

Revenue From Contracts With C44

Revenue From Contracts With Customers - Unsatisfied Performance Obligations (Details) $ in Millions	6 Months Ended
	Jun. 30, 2018USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2018-07-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Performance obligations expected to be satisfied	$ 34
Performance obligations expected to be satisfied, expected timing	6 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2019-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Performance obligations expected to be satisfied	$ 28.2
Performance obligations expected to be satisfied, expected timing	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2020-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Performance obligations expected to be satisfied	$ 9.8
Performance obligations expected to be satisfied, expected timing	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Performance obligations expected to be satisfied	$ 1.5
Performance obligations expected to be satisfied, expected timing	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Performance obligations expected to be satisfied	$ 0.2
Performance obligations expected to be satisfied, expected timing	1 year

Revenue From Contracts With C45

Revenue From Contracts With Customers - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jul. 01, 2017	Jun. 30, 2018	Jul. 01, 2017
Disaggregation of Revenue [Line Items]
Bad debt expense	$ 1,700	$ 1,500	$ 3,349	$ 2,572
Deferred revenue	73,700		73,700
Previously deferred revenue recognized	$ 26,100		$ 52,000
Minimum
Disaggregation of Revenue [Line Items]
General payment terms for accounts on health care plans and programs (in days)			14 days
Unearned revenue, estimated delivery time for period end calculation (in days)			4 days
Maximum
Disaggregation of Revenue [Line Items]
General payment terms for accounts on health care plans and programs (in days)			120 days
Time frame for majority of payments on health care plans and programs accounts (in days)			90 days
Unearned revenue, estimated delivery time for period end calculation (in days)			10 days
Owned & Host
Disaggregation of Revenue [Line Items]
Extended warranty plan, term (in years)			1 year
Owned & Host | Minimum
Disaggregation of Revenue [Line Items]
Eyecare club membership, term (in years)			3 years
Owned & Host | Maximum
Disaggregation of Revenue [Line Items]
Eyecare club membership, term (in years)			5 years

Commitments and Contingencies -

Commitments and Contingencies - Narrative (Details) - USD ($) $ in Thousands	Nov. 08, 2017	May 31, 2017	Jun. 30, 2018	Jul. 01, 2017	Jun. 30, 2018	Jul. 01, 2017
Loss Contingencies [Line Items]
Litigation settlement			$ 0	$ 7,000	$ 0	$ 7,000
1-800 Contacts Matter
Loss Contingencies [Line Items]
Amount of litigation settlement		$ 7,000
Litigation settlement				$ 7,000
Percent of settlement award deposited in escrow account (percent)	50.00%
Amount of settlement deposited in escrow account	$ 3,500

Segment Reporting - Narrative (

Segment Reporting - Narrative (Details) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2018USD ($)store	Jul. 01, 2017USD ($)	Jun. 30, 2018USD ($)storesegment	Jul. 01, 2017USD ($)	Dec. 30, 2017store
Segment Reporting Information [Line Items]
Number of reportable segments | segment			2
Number of retail vision centers | store	1,050		1,050		1,013
Net revenue | $	$ 385,532	$ 337,541	$ 793,507	$ 707,400
Legacy
Segment Reporting Information [Line Items]
Number of retail vision centers | store	227		227
Legacy | Management of operations
Segment Reporting Information [Line Items]
Net revenue | $	$ 9,100	$ 9,500	$ 18,400	$ 19,200
Customer Concentration Risk | Sales revenue
Segment Reporting Information [Line Items]
Concentration risk (percent)			10.30%

Segment Reporting - Financial D

Segment Reporting - Financial Data by Segment (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jul. 01, 2017	Jun. 30, 2018	Jul. 01, 2017
Segment Reporting Information [Line Items]
Total net revenue	$ 385,532	$ 337,541	$ 793,507	$ 707,400
Cost of products	127,731	112,314	258,609	233,347
Cost of services and plans	49,328	44,094	98,904	88,869
Total costs applicable to revenue	177,059	156,408	357,513	322,216
SG&A	165,038	144,655	335,140	294,459
Asset impairment	0	1,000	0	1,000
Debt issuance costs	0	0	0	2,702
Litigation settlement	0	7,000	0	7,000
Other expense, net	296	77	418	179
EBITDA	43,139	28,401	100,436	79,844
Depreciation and amortization	17,346	14,629	35,000	29,052
Interest expense, net	9,424	14,622	18,737	26,114
Earnings (loss) before income taxes	16,369	(850)	46,699	24,678
Net product sales
Segment Reporting Information [Line Items]
Total net revenue	319,408	276,960	658,185	583,544
Net sales of services and plans
Segment Reporting Information [Line Items]
Total net revenue	66,124	60,581	135,322	123,856
Operating Segments | Owned & Host
Segment Reporting Information [Line Items]
Total net revenue	289,613	249,491	610,010	536,787
Cost of products	70,505	60,266	144,663	127,445
Cost of services and plans	43,481	36,964	87,127	74,507
Total costs applicable to revenue	113,986	97,230	231,790	201,952
SG&A	112,918	96,517	230,855	200,317
Asset impairment		0		0
Debt issuance costs				0
Litigation settlement		0		0
Other expense, net	0	0	0	0
EBITDA	62,709	55,744	147,365	134,518
Operating Segments | Owned & Host | Net product sales
Segment Reporting Information [Line Items]
Total net revenue	236,383	203,389	498,004	438,491
Operating Segments | Owned & Host | Net sales of services and plans
Segment Reporting Information [Line Items]
Total net revenue	53,230	46,102	112,006	98,296
Operating Segments | Legacy
Segment Reporting Information [Line Items]
Total net revenue	39,106	37,561	81,864	79,301
Cost of products	12,140	12,040	25,028	25,711
Cost of services and plans	4,878	3,631	9,841	7,330
Total costs applicable to revenue	17,018	15,671	34,869	33,041
SG&A	13,420	13,454	26,898	26,183
Asset impairment		0		0
Debt issuance costs				0
Litigation settlement		0		0
Other expense, net	0	0	0	0
EBITDA	8,668	8,436	20,097	20,077
Operating Segments | Legacy | Net product sales
Segment Reporting Information [Line Items]
Total net revenue	26,156	25,341	55,265	54,325
Operating Segments | Legacy | Net sales of services and plans
Segment Reporting Information [Line Items]
Total net revenue	12,950	12,220	26,599	24,976
Operating Segments | Corporate/Other
Segment Reporting Information [Line Items]
Total net revenue	50,764	48,382	102,597	96,114
Cost of products	43,540	39,234	87,850	79,417
Cost of services and plans	969	3,499	1,936	7,032
Total costs applicable to revenue	44,509	42,733	89,786	86,449
SG&A	38,700	34,684	77,387	67,959
Asset impairment		1,000		1,000
Debt issuance costs				2,702
Litigation settlement		7,000		7,000
Other expense, net	296	77	418	179
EBITDA	(32,741)	(37,112)	(64,994)	(69,175)
Operating Segments | Corporate/Other | Net product sales
Segment Reporting Information [Line Items]
Total net revenue	49,791	44,393	100,570	87,950
Operating Segments | Corporate/Other | Net sales of services and plans
Segment Reporting Information [Line Items]
Total net revenue	973	3,989	2,027	8,164
Reconciling Items
Segment Reporting Information [Line Items]
Total net revenue	6,049	2,107	(964)	(4,802)
Cost of products	1,546	774	1,068	774
Cost of services and plans	0	0	0	0
Total costs applicable to revenue	1,546	774	1,068	774
SG&A	0	0	0	0
Asset impairment		0		0
Debt issuance costs				0
Litigation settlement		0		0
Other expense, net	0	0	0	0
EBITDA	4,503	1,333	(2,032)	(5,576)
Reconciling Items | Net product sales
Segment Reporting Information [Line Items]
Total net revenue	7,078	3,837	4,346	2,778
Reconciling Items | Net sales of services and plans
Segment Reporting Information [Line Items]
Total net revenue	$ (1,029)	$ (1,730)	$ (5,310)	$ (7,580)

Earnings Per Share - Reconcilia

Earnings Per Share - Reconciliation of Basic and Diluted EPS Calculations (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jul. 01, 2017	Jun. 30, 2018	Jul. 01, 2017
Earnings Per Share [Abstract]
Net income	$ 13,077	$ (1,496)	$ 38,124	$ 15,574
Weighted average shares outstanding for basic EPS	75,249	56,414	74,983	56,337
Effect of dilutive securities:
Stock options	2,540	0	2,817	2,002
Restricted stock	69	0	79	0
Weighted average shares outstanding for diluted EPS	77,858	56,414	77,879	58,339
Basic EPS (in usd per share)	$ 0.17	$ (0.03)	$ 0.51	$ 0.28
Diluted EPS (in usd per share)	$ 0.17	$ (0.03)	$ 0.49	$ 0.27
Stock Options
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive options outstanding excluded from EPS	0	2,036	0	107

Accumulated Other Comprehensi50

Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jul. 01, 2017	Jun. 30, 2018	Jul. 01, 2017
Accumulated Other Comprehensive Loss, Net of Tax [Roll Forward]
Beginning balance			$ 659,588
Ending balance	$ 729,587		729,587
Cash Flow Hedges
Accumulated Other Comprehensive Loss, Net of Tax [Roll Forward]
Beginning balance	(5,244)	$ (14,760)	(9,868)	$ (14,556)
Other comprehensive income (loss) before reclassification	1,749	(2,645)	5,842	(3,580)
Tax effect of other comprehensive (loss) income before reclassification	(449)	1,092	(1,497)	1,450
Amount reclassified from AOCL	1,610	2,896	3,733	3,501
Tax effect of amount reclassified from AOCL	(412)	(1,188)	(956)	(1,420)
Net current period other comprehensive income (loss), net of tax	2,498	155	7,122	(49)
Ending balance	$ (2,746)	$ (14,605)	$ (2,746)	$ (14,605)

Subsequent Events - Narrative (

Subsequent Events - Narrative (Details) - USD ($) $ in Thousands	1 Months Ended	3 Months Ended	6 Months Ended
	Aug. 14, 2018	Sep. 29, 2018	Jun. 30, 2018	Jul. 01, 2017
Subsequent Event [Line Items]
Non-cash stock-based compensation expense			$ 3,120	$ 1,989
Subsequent Event | Forecast | Minimum
Subsequent Event [Line Items]
Non-cash stock-based compensation expense		$ 8,500
Cash expense pursuant to incentive plan for non-executive management		4,000
Subsequent Event | Forecast | Maximum
Subsequent Event [Line Items]
Non-cash stock-based compensation expense		10,500
Cash expense pursuant to incentive plan for non-executive management		$ 5,000
Subsequent Event | Secondary Offering
Subsequent Event [Line Items]
Aggregate shares sold by selling stockholders (shares)	16,614,852
Offering related expenses	$ 800

Uncategorized Items - eye-20180

Label	Element	Value
Restricted Cash and Cash Equivalents	us-gaap_RestrictedCashAndCashEquivalents	$ 1,155,000
Restricted Cash and Cash Equivalents	us-gaap_RestrictedCashAndCashEquivalents	$ 1,179,000