XML 59 R41.htm IDEA: XBRL DOCUMENT v3.24.1.1.u2
CAPITAL STOCK (Tables)
 12 Months Ended
Mar. 30, 2024
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)202420232022
Selling, general and administrative expenses$23,662$21,903$20,694
Research and development3,106 2,364 2,537 
Cost of goods sold1,564 1,316 1,128 
$28,332$25,583$24,359
Schedule of Summary of Stock Option Activity
A summary of stock option activity for the fiscal year ended March 30, 2024 is as follows:
Options
Outstanding		Weighted
Average
Exercise Price
per Share		Weighted
Average
Remaining
Life (years)		Aggregate
Intrinsic
Value
($000’s)
Outstanding at April 1, 20231,150,194 $64.21 3.55$27,481 
Granted179,696 89.09   
Exercised(234,913)32.65   
Forfeited/Canceled(27,973)83.46   
Outstanding at March 30, 20241,067,004 $74.86 3.68$16,820 
Exercisable at March 30, 2024561,037 $77.88 2.36$8,555 
Vested or expected to vest at March 30, 2024983,780 $74.98 3.59$15,663 
Schedule of Assumptions Utilized for Estimating Fair Value of Option Grants
The assumptions utilized for option grants during the periods presented are as follows:
202420232022
Volatility45.3 %45.0 %41.9 %
Expected life (years)5.15.04.9
Risk-free interest rate3.5 %2.9 %0.8 %
Dividend yield0.0 %0.0 %0.0 %
Grant-date fair value per Option$39.46$24.86$20.97
Schedule of Summary of Restricted Stock Units Activity
A summary of RSU activity for the fiscal year ended March 30, 2024 is as follows:
SharesWeighted
Average
Grant Date Fair Value
Unvested at April 1, 2023381,308 $63.94 
Granted141,031 89.21 
Vested(166,193)67.14 
Forfeited(18,138)71.45 
Unvested at March 30, 2024338,008 $72.52 

The weighted-average grant-date fair value of RSUs granted and total fair value of RSUs vested are as follows:
202420232022
Grant-date fair value per RSU$89.21 $59.36 $56.96 
Fair value of RSUs vested$67.14 $70.24 $79.60 
Schedule of Performance Share Unit awards
A summary of PSU activity for the fiscal year ended March 30, 2024 is as follows:
SharesWeighted
Average
Grant Date Fair Value
Unvested at April 1, 2023323,987 $87.35 
Granted(1)
54,558 128.83 
Forfeited(8,745)88.20 
Unvested at March 30, 2024369,800 $94.26 
(1) Includes the adjustment of 59,091 shares for awards granted in fiscal 2021, based on actual relative total shareholder return of 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:
202420232022
Expected stock price volatility48.20 %52.22 %49.23 %
Peer group stock price volatility40.29 %47.43 %45.75 %
Correlation of returns59.93 %65.45 %65.06 %
The weighted-average grant-date fair value of PSUs granted is as follows:
202420232022
Grant-date fair value per PSU$128.83 $84.96 $72.52 
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:
202420232022
Volatility28.6 %44.9 %55.6 %
Expected life (months)666
Risk-free interest rate5.4 %2.9 %0.1 %
Dividend Yield0.0 %0.0 %0.0 %