Stockholders' Equity

12 Months Ended

Mar. 31, 2012

Comprehensive Income / Stockholders' Equity [Abstract]

Stockholders' Equity

Note 15. Stockholders’ Equity

Preferred Stock

The Company’s Certificate of Incorporation authorized 2.0 million shares of undesignated preferred stock. The preferred stock may be issued in one or more series. The Board of Directors is authorized to determine or alter the rights, preferences, privileges and restrictions granted to or imposed upon any wholly unissued series of preferred stock. As of March 31, 2012 and April 2, 2011, no preferred shares were issued or outstanding.

Common Stock and Debentures Repurchase Programs

The Board of Directors has approved stock repurchase programs enabling the Company to repurchase its common stock in the open market or through negotiated transactions with independent financial institutions. In June 2010, the Board authorized the repurchase of up to $500.0 million of common stock (2010 Repurchase Program). The 2010 Repurchase Programs have no stated expiration date. Through March 31, 2012, the Company had used $312.9 million of the $500.0 million authorized under the 2010 Repurchase Program, leaving $187.1 million available for future repurchases. The Company’s current policy is to retire all repurchased shares and debentures, and consequently, no treasury shares or debentures were held as of March 31, 2012 and April 2, 2011.

During fiscal 2012, the Company repurchased 7.0 million shares of common stock in the open market for a total of $219.6 million under the 2010 Repurchase Program. During fiscal 2011, the Company repurchased 17.8 million shares of common stock in the open market for a total of $468.9 million.