XML 44 R33.htm IDEA: XBRL DOCUMENT v3.3.1.900
Stock-Based Compensation Plans (Tables)
9 Months Ended
Jan. 02, 2016
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
 
Nine Months Ended
(In thousands)
January 2, 2016
 
December 27, 2014
 
January 2, 2016
 
December 27, 2014
Stock-based compensation included in:

 

 

 

Cost of revenues
$
2,145

 
$
2,339

 
$
5,872

 
$
6,408

Research and development
16,935

 
14,909

 
44,561

 
40,245

Selling, general and administrative
12,383

 
11,806

 
34,031

 
33,247

 
$
31,463

 
$
29,054

 
$
84,464

 
$
79,900

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 third quarter of fiscal 2016 was $43.41 ($40.76 for the third quarter of fiscal 2015), and for the first nine months of fiscal 2016 was $41.24 ($43.76 for the first nine months of fiscal 2015), which were calculated based on estimates at the date of grant using the following weighted-average assumptions: 
 
Three Months Ended
 
Nine Months Ended

January 2, 2016
 
December 27, 2014
 
January 2, 2016
 
December 27, 2014
Risk-free interest rate
1.3
%
 
1.3
%
 
1.3
%
 
0.7
%
Dividend yield
2.7
%
 
2.7
%
 
2.8
%
 
2.4
%
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 2016 and 2015 were estimated using the Black-Scholes option pricing model at the date of grant using the following assumptions:

2016
 
2015
Expected life of options (years)
1.25

 
1.25

Expected stock price volatility
0.25

 
0.25

Risk-free interest rate
0.4
%
 
0.2
%
Dividend yield
3.0
%
 
2.8
%
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 29, 2014
5,280

 
$
25.22

Exercised
(2,009
)
 
$
25.80

Forfeited/cancelled/expired
(24
)
 
$
32.22

March 28, 2015
3,247

 
$
24.81

Exercised
(1,503
)
 
$
24.43

Forfeited/cancelled/expired
(12
)
 
$
31.99

January 2, 2016
1,732

 
$
25.09

Options exercisable at:

 

January 2, 2016
1,705

 
$
24.96

March 28, 2015
3,173

 
$
24.59

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 29, 2014
6,901

 
$
35.08

Granted
3,201

 
$
43.11

Vested
(2,698
)
 
$
33.82

Cancelled
(531
)
 
$
32.91

March 28, 2015
6,873

 
$
39.07

Granted
2,889

 
$
41.24

Vested
(2,287
)
 
$
37.16

Cancelled
(517
)
 
$
39.77

January 2, 2016
6,958

 
$
40.54