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Stock-Based Compensation Plans (Tables)
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12 Months Ended |
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Mar. 30, 2013
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| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] |
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| Stock-Based compensation expense |
The following table summarizes stock-based compensation expense related to stock awards granted under the Company’s equity incentive plans and rights to acquire stock granted under the Company’s Employee Stock Purchase Plan (ESPP): | | | | | | | | | | | | | (In thousands) | March 30, 2013 |
| March 31, 2012 |
| April 2, 2011 | Stock-based compensation included in: |
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|
| |
| Cost of revenues | $ | 6,356 |
|
| $ | 5,630 |
| | $ | 4,825 |
| Research and development | 37,937 |
|
| 32,310 |
| | 28,780 |
| Selling, general and administrative | 33,569 |
|
| 29,478 |
| | 26,653 |
| Stock-based compensation effect on income before taxes | 77,862 |
|
| 67,418 |
|
| 60,258 |
| Income tax effect | (22,137 | ) |
| (19,214 | ) |
| (18,561 | ) | Net stock-based compensation effect on net income | $ | 55,725 |
|
| $ | 48,204 |
| | $ | 41,697 |
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| Stock options, valuation assumptions |
These fair values per share were estimated at the date of grant using the following weighted-average assumptions: | | | | | | | | | | | | | | | Stock Options | | | Employee Stock Purchase Plan |
| 2013 |
| 2012 |
| 2011 | |
| 2013 |
| 2012 |
| 2011 | Expected life of options (years) | 4.9 |
| 5.1 | | 5.1 | |
| 1.3 |
| 1.3 |
| 1.3 | Expected stock price volatility | 28% |
| 31% | | 35% | |
| 26% |
| 29% |
| 31% | Risk-free interest rate | 0.7% |
| 1.1% | | 1.8% | |
| 0.2% |
| 0.2% | | 0.3% | Dividend yield | 2.6% |
| 2.4% | | 2.5% | |
| 2.7% |
| 2.4% | | 2.3% |
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| Summary of restricted stock unit activity and related information |
The per share weighted-average fair value of RSUs granted during fiscal 2013, 2012 and 2011 were $31.58, $33.69 and $25.14, respectively. The weighted average fair value of RSUs granted in fiscal 2013, 2012 and 2011 were calculated based on estimates at the date of grant using the following weighted-average assumptions: | | | | | | | | | |
| 2013 |
| 2012 |
| 2011 | Risk-free interest rate | 0.4 | % |
| 0.7 | % | | 1.0 | % | Dividend yield | 2.7 | % |
| 2.2 | % | | 2.5 | % |
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| Stock options, vested and expected to vest, outstanding |
Options outstanding that have vested and are expected to vest in future periods as of March 30, 2013 are as follows: | | | | | | | | | | | | | (Shares and intrinsic value in thousands) |
| Number of Shares |
| Weighted-Average Exercise Price Per Share |
| Weighted-Average Remaining Contractual Term (Years) |
| Aggregate Intrinsic Value (1) | Vested (i.e., exercisable) |
| 11,639 |
|
| $28.07 |
| 2.37 |
| $ | 122,051 |
| Expected to vest |
| 1,046 |
|
| $27.46 |
| 4.55 |
| $ | 11,228 |
| Total vested and expected to vest |
| 12,685 |
|
| $28.02 |
| 2.55 |
| $ | 133,279 |
|
|
|
|
|
|
|
|
|
| Total outstanding |
| 12,753 |
|
| $28.01 |
| 2.56 |
| $ | 134,136 |
|
| | (1) | These amounts represent the difference between the exercise price and $38.17, the closing price per share of Xilinx’s stock on March 30, 2013, for all in-the-money options outstanding. |
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| Shares available for grant under stock option plan |
A summary of shares available for grant under the 2007 Equity Plan is as follows: | | | | | (Shares in thousands) |
| Shares Available for Grant | April 3, 2010 |
| 12,322 |
| Additional shares reserved |
| 4,500 |
| Stocks options granted |
| (2,345 | ) | Stock options cancelled |
| 365 |
| RSUs granted |
| (2,043 | ) | RSUs cancelled |
| 365 |
| April 2, 2011 |
| 13,164 |
| Additional shares reserved |
| 4,500 |
| Stocks options granted |
| (207 | ) | Stock options cancelled |
| 70 |
| RSUs granted |
| (2,977 | ) | RSUs cancelled |
| 358 |
| March 31, 2012 |
| 14,908 |
| Additional shares reserved |
| 3,500 |
| Stocks options granted |
| (92 | ) | Stock options cancelled |
| 209 |
| RSUs granted |
| (3,018 | ) | RSUs cancelled |
| 483 |
| March 30, 2013 |
| 15,990 |
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| Stock options outstanding and exercisable under stock option plans, by exercise price range |
The following information relates to options outstanding and exercisable under the Option Plans as of March 30, 2013: | | | | | | | | | | | | | |
|
| Options Outstanding |
| Options Exercisable |
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|
|
| Weighted- |
| Weighted- |
|
|
| Weighted- | (Shares in thousands) |
|
|
| Average |
| Average |
|
|
| Average |
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|
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| Remaining |
| Exercise |
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|
| Exercise |
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| Options |
| Contractual Term |
| Price Per |
| Options |
| Price Per | Range of Exercise Prices |
| Outstanding |
| (Years) |
| Share |
| Exercisable |
| Share | $15.95 - $19.79 |
| 169 |
|
| 2.93 |
| $18.19 |
| 167 |
|
| $18.18 | $20.14 - $29.93 |
| 9,134 |
|
| 2.91 |
| $24.29 |
| 8,336 |
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| $24.24 | $30.04 - $38.51 |
| 1,209 |
|
| 2.76 |
| $34.89 |
| 895 |
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| $35.27 | $40.11 - $41.81 |
| 2,241 |
|
| 1.01 |
| $40.19 |
| 2,241 |
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| $40.19 |
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| 12,753 |
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| 2.56 |
| $28.01 |
| 11,639 |
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| $28.07 |
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Employee Stock Option [Member]
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| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] |
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| Summary of restricted stock unit activity and related information |
A summary of the Company’s RSU activity and related information is as follows: | | | | | | | | | | | | | | | RSUs Outstanding | (Shares and intrinsic value in thousands) | Number of Shares |
| Weighted-Average Grant-Date Fair Value Per Share |
| Weighted Average Remaining Contractual Term (Years) |
| Average Intrinsic Value (1) | April 3, 2010 | 3,652 |
|
| $ | 21.70 |
| | | | | Granted | 2,043 |
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| $ | 25.14 |
| | | | | Vested (2) | (1,192 | ) |
| $ | 22.23 |
| | | | | Cancelled | (288 | ) |
| $ | 21.99 |
| | | | | April 2, 2011 | 4,215 |
|
| $ | 23.19 |
| | | | | Granted | 2,977 |
|
| $ | 33.69 |
| | | | | Vested (2) | (1,543 | ) |
| $ | 23.11 |
| | | | | Cancelled | (410 | ) |
| $ | 25.18 |
| | | | | March 31, 2012 | 5,239 |
|
| $ | 29.01 |
| | | | | Granted | 3,018 |
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| $ | 31.58 |
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|
|
|
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| Vested (2) | (1,778 | ) |
| $ | 27.01 |
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|
|
|
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| Cancelled | (483 | ) |
| $ | 29.69 |
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|
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| March 30, 2013 | 5,996 |
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| $ | 30.83 |
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| 2.53 |
| $ | 228,883 |
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| Expected to vest as of March 30, 2013 | 5,475 |
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| $ | 30.92 |
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| 2.50 |
| $ | 208,967 |
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| | (1) | Aggregate intrinsic value for RSUs represents the closing price per share of Xilinx’s stock on March 30, 2013 of $38.17, multiplied by the number of RSUs outstanding or expected to vest as of March 30, 2013. |
| | (2) | The number of RSUs vested includes shares that the Company withheld on behalf of employees to satisfy the statutory tax withholding requirements. |
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| Summary of option plans activity |
A summary of the Company’s Option Plans activity and related information is as follows: | | | | | | | | | Options Outstanding | (Shares in thousands) | Number of Shares |
| Weighted-Average Exercise Price Per Share | April 3, 2010 | 31,026 |
|
| $ | 30.51 |
| Granted | 2,345 |
|
| $ | 26.36 |
| Exercised | (5,704 | ) |
| $ | 25.42 |
| Forfeited/cancelled/expired | (2,698 | ) |
| $ | 50.69 |
| April 2, 2011 | 24,969 |
|
| $ | 29.11 |
| Granted | 207 |
|
| $ | 34.79 |
| Exercised | (3,622 | ) |
| $ | 24.70 |
| Forfeited/cancelled/expired | (3,766 | ) |
| $ | 37.35 |
| March 31, 2012 | 17,788 |
|
| $ | 28.32 |
| Granted | 92 |
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| $ | 33.83 |
| Exercised | (3,564 | ) |
| $ | 24.68 |
| Forfeited/cancelled/expired | (1,563 | ) |
| $ | 39.54 |
| March 30, 2013 | 12,753 |
|
| $ | 28.01 |
| Options exercisable at: |
|
|
| March 30, 2013 | 11,639 |
|
| $ | 28.07 |
| March 31, 2012 | 15,349 |
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| $ | 28.78 |
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