XML 43 R32.htm IDEA: XBRL DOCUMENT v2.4.0.8
Stock-Based Compensation Plans (Tables)
 6 Months Ended
Sep. 27, 2014
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
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):
 
Three Months Ended
 
Six Months Ended
(In thousands)
September 27, 2014
 
September 28, 2013
 
September 27, 2014
 
September 28, 2013
Stock-based compensation included in:

 

 

 

Cost of revenues
$
2,077

 
$
1,858

 
$
4,069

 
$
3,662

Research and development
14,831

 
11,343

 
25,336

 
21,562

Selling, general and administrative
11,832

 
9,859

 
21,441

 
18,790

 
$
28,740

 
$
23,060

 
$
50,846

 
$
44,014
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value
The per share weighted-average fair value of RSUs granted during the second quarter of fiscal 2015 was $44.40 ($37.81 for the second quarter of fiscal 2014), and for the first six months of fiscal 2015 was $43.84 ($37.63 for the first six months of fiscal 2014), which were calculated based on estimates at the date of grant using the following weighted-average assumptions: 
 
Three Months Ended
 
Six Months Ended

September 27, 2014
 
September 28, 2013
 
September 27, 2014
 
September 28, 2013
Risk-free interest rate
0.7
%
 
0.7
%
 
0.7
%
 
0.7
%
Dividend yield
2.4
%
 
2.5
%
 
2.4
%
 
2.5
%
Schedule of Share-based Payment Award, Employee Stock Purchase Plan, Valuation Assumptions [Table Text Block]
The fair values of stock purchase plan rights granted in the second quarter of fiscal 2015 and 2014 were estimated at the date of grant using the following assumptions:

2015
 
2014
Expected life of options (years)
1.25

 
1.25

Expected stock price volatility
0.25

 
0.23

Risk-free interest rate
0.2
%
 
0.2
%
Dividend yield
2.8
%
 
2.1
%
Employee Stock Option [Member]
  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
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
March 30, 2013
12,753

 
$
28.01

Granted
8

 
$
41.08

Exercised
(7,421
)
 
$
29.95

Forfeited/cancelled/expired
(60
)
 
$
35.61

March 29, 2014
5,280

 
$
25.22

Granted
—

 
$
—

Exercised
(801
)
 
$
26.88

Forfeited/cancelled/expired
(13
)
 
$
32.63

September 27, 2014
4,466

 
$
24.90

Options exercisable at:

 

September 27, 2014
4,329

 
$
24.62

March 29, 2014
4,935

 
$
24.87
Restricted Stock Units (RSUs) [Member]
  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
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 in thousands)
Number of Shares
 
Weighted-Average Grant-Date Fair Value Per Share
March 30, 2013
5,996

 
$
30.83

Granted
3,297

 
$
38.90

Vested
(2,066
)
 
$
29.25

Cancelled
(326
)
 
$
32.28

March 29, 2014
6,901

 
$
35.08

Granted
2,682

 
$
43.84

Vested
(2,141
)
 
$
33.57

Cancelled
(173
)
 
$
35.96

September 27, 2014
7,269

 
$
38.74