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CAPITAL STOCK (Tables)
12 Months Ended
Apr. 01, 2023
Share-based Payment Arrangement [Abstract]  
Schedule of Stock-Based Compensation Cost
Compensation cost related to share-based transactions is recognized in the consolidated financial statements based on fair value. The total amount of share-based compensation expense, which is recorded on a straight line basis, is as follows:
(In thousands)202320222021
Selling, general and administrative expenses$21,903$20,694$22,888
Research and development2,364 2,537 1,874 
Cost of goods sold1,316 1,128 754 
$25,583$24,359$25,516
Schedule of Summary of Stock Option Activity
A summary of stock option activity for the fiscal year ended April 1, 2023 is as follows:
Options
Outstanding
Weighted
Average
Exercise Price
per Share
Weighted
Average
Remaining
Life (years)
Aggregate
Intrinsic
Value
($000’s)
Outstanding at April 2, 20221,056,638 $66.87 3.79$12,423 
Granted276,928 58.02   
Exercised(59,400)44.82   
Forfeited/Canceled(123,972)82.42   
Outstanding at April 1, 20231,150,194 $64.21 3.55$27,481 
Exercisable at April 1, 2023618,735 $62.68 1.97$16,617 
Vested or expected to vest at April 1, 20231,054,821 $64.44 3.12$25,311 
Schedule of Assumptions Utilized for Estimating Fair Value of Option Grants
The assumptions utilized for option grants during the periods presented are as follows:
202320222021
Volatility45.0 %41.9 %33.5 %
Expected life (years)5.04.94.9
Risk-free interest rate2.9 %0.8 %0.4 %
Dividend yield0.0 %0.0 %0.0 %
Grant-date fair value per Option$24.86$20.97$30.53
Schedule of Assumptions Used, Other than Options
The weighted average rates used to determine the net periodic benefit costs and projected benefit obligations were as follows:
202320222021
Discount rate2.43 %1.38 %0.58 %
Rate of increased salary levels1.94 %1.81 %1.64 %
Expected long-term rate of return on assets0.87 %0.69 %0.42 %
Schedule of Summary of Restricted Stock Units Activity
A summary of RSU activity for the fiscal year ended April 1, 2023 is as follows:
SharesWeighted
Average
Grant Date Fair Value
Unvested at April 2, 2022386,536 $69.27 
Granted207,177 59.36 
Vested(161,045)70.24 
Forfeited(51,360)65.64 
Unvested at April 1, 2023381,308 $63.94 

The weighted-average grant-date fair value of RSUs granted and total fair value of RSUs vested are as follows:
202320222021
Grant-date fair value per RSU$59.36 $56.96 $102.19 
Fair value of RSUs vested$70.24 $79.60 $66.87 
Schedule of Performance Share Unit awards
A summary of PSU activity for the fiscal year ended April 1, 2023 is as follows:
SharesWeighted
Average
Grant Date Fair Value
Unvested at April 2, 2022282,946 $102.17 
Granted(1)
88,851 84.96 
Vested— — 
Forfeited(47,810)89.43 
Unvested at April 1, 2023323,987 $87.35 
(1) Includes the adjustment of 62,577 shares for awards granted in fiscal 2020, based on actual relative total shareholder return of 0%
Schedule of Share-based Payment Award, Employee Stock Purchase Plan, Valuation Assumptions
The fair values of shares purchased under the Employee Stock Purchase Plan are estimated using the Black-Scholes single option-pricing model with the following weighted average assumptions:
202320222021
Volatility44.9 %55.6 %49.8 %
Expected life (months)666
Risk-free interest rate2.9 %0.1 %0.1 %
Dividend Yield0.0 %0.0 %0.0 %
Schedule of Share-based Payment Award, Equity Other Than Options, Valuation Assumptions The assumptions used in the Monte Carlo model for PSUs granted during each fiscal year were as follows:
202320222021
Expected stock price volatility52.22 %49.23 %36.79 %
Peer group stock price volatility47.43 %45.75 %42.31 %
Correlation of returns65.45 %65.06 %65.12 %
The weighted-average grant-date fair value of PSUs granted and total fair value of PSUs vested are as follows:
202320222021
Grant-date fair value per PSU$84.96 $72.52 $123.92 
Fair value of PSUs vested$— $— $47.43