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Equity Compensation (Tables)
 12 Months Ended
Mar. 26, 2022
Share-based Payment Arrangement, Noncash Expense [Abstract]  
Summary of Activity in Total Stock Available for Grant
The following table summarizes the activity in total shares available for grant (in thousands):
 
 Shares
 Available for
 Grant
Balance, March 30, 20193,323 
Shares added248 
Granted(1,686)
Forfeited210 
Balance, March 28, 20202,095 
Shares added3,223 
Granted(1,491)
Forfeited198 
Balance, March 27, 20214,025 
Shares added— 
Granted(1,679)
Forfeited271 
Balance, March 26, 20222,617 
Summary of Effect of Stock-Based Compensation
The following table summarizes the effects of stock-based compensation on cost of goods sold, research and development, sales, general and administrative, pre-tax income, and net income after taxes for shares granted under the Plan (in thousands, except per share amounts):
 
 Fiscal Year
 202220212020
Cost of sales$1,024 $900 $908 
Research and development44,153 37,483 33,859 
Sales, general and administrative21,215 18,379 18,990 
Effect on pre-tax income66,392 56,762 53,757 
Income Tax Benefit(11,521)(9,558)(9,336)
Total stock-based compensation expense (net of taxes)54,871 47,204 44,421 
Stock-based compensation effects on basic earnings per share$0.96 $0.81 $0.76 
Stock-based compensation effects on diluted earnings per share0.93 0.79 0.73 
Schedule of Fair Value of Stock Option Grants
We estimate the fair value of each stock option on the date of grant using the Black-Scholes option-pricing model using a dividend yield of zero and the following additional assumptions:
 
March 26, 2022March 27, 2021March 28, 2020
Expected stock price volatility
36.85% - 41.66%
43.85% - 43.99%
37.17% - 41.61%
Risk-free interest rate
0.82% - 1.62%
0.35% - 0.72%
1.54% - 2.29%
Expected term (in years)
4.22 - 4.39
4.32 - 4.43
3.81 - 4.55
Schedule of Stock Option Activity
Additional information with respect to stock option activity is as follows (in thousands, except per share amounts):
 
 Outstanding Options
NumberWeighted
Average
Exercise Price
Balance, March 30, 20191,865 $33.68 
Options granted169 66.93 
Options exercised(780)23.90 
Options forfeited(27)50.75 
Options expired(11)55.03 
Balance, March 28, 20201,216 $44.01 
Options granted96 77.23 
Options exercised(236)30.26 
Options forfeited(17)56.27 
Options expired— — 
Balance, March 27, 20211,059 $49.87 
Options granted88 87.52 
Options exercised(327)40.31 
Options forfeited— — 
Options expired— — 
Balance, March 26, 2022820 $57.75 
Summary of Outstanding Options Vesting, Expected to Vest, or Exercisable
Additional information with regards to outstanding options that are vesting, expected to vest, or exercisable as of March 26, 2022 is as follows (in thousands, except years and per share amounts):
 
Number of
Options		Weighted
Average
Exercise price		Weighted Average
Remaining Contractual
Term (years)		Aggregate
Intrinsic Value
Vested and expected to vest809 $57.42 6.63$24,499 
Exercisable585 $50.65 5.82$21,676 
Summary of Outstanding and Exercisable Options
The following table summarizes information regarding outstanding and exercisable options as of March 26, 2022 (in thousands, except per share amounts):
 
 Options OutstandingOptions Exercisable
Weighted Average
Remaining
Contractual Life		Weighted
Average Exercise		NumberWeighted
Average
Range of Exercise PricesNumber(years)PriceExercisableExercise Price
$20.37 - $38.34
133 4.62$33.60 126 $33.37 
$41.49 - $42.64
135 6.6541.56 117 41.55 
$54.65 - $55.72
231 5.1355.21 231 55.21 
$68.43 - $68.43
8 8.0868.43 4 68.43 
$68.56 - $68.56
137 7.6268.56 85 68.56 
$78.00 - $88.00
176 9.4282.76 22 78.00 
820 6.66$57.75 585 $50.65 
Summary of Restricted Stock and Restricted Stock Units Activity A summary of the activity for RSUs in fiscal year 2022, 2021, and 2020 is presented below (in thousands, except per share amounts): 
SharesWeighted
Average
Fair Value
March 30, 20192,834 $47.99 
Granted1,014 66.76 
Vested(897)51.20 
Forfeited(271)50.82 
March 28, 20202,680 $53.74 
Granted945 71.44 
Vested(881)52.97 
Forfeited(131)55.36 
March 27, 20212,613 $60.31 
Granted1,079 81.61 
Vested(935)43.96 
Forfeited(181)70.60 
March 26, 20222,576 $74.45 
Summary of Restricted Stock Units Vesting or Expected to Vest Additional information with regards to outstanding RSUs that are expected to vest as of March 26, 2022, is as follows (in thousands, except year and per share amounts): 
SharesWeighted
Average
Fair Value		Weighted Average
Remaining Contractual
Term (years)
Expected to vest2,426 $74.30 1.51
Summary of Monte Carlo Simulation Assumptions for Market Stock Units
The fair values estimated from the Monte Carlo simulation were calculated using a dividend yield of zero and the following additional assumptions:
 
 Fiscal Years Ended
March 26,
2022		March 27,
2021		March 28,
2020
Expected stock price volatility41.66 %43.85 %
37.17% - 41.61%
Risk-free interest rate1.46 %0.29 %
1.59% - 2.28%
Expected term (in years)3.003.003.00
Schedule of Market Stock Units Activity A summary of the activity for MSUs in fiscal year 2022, 2021, and 2020 is presented below (in thousands, except per share amounts): 
SharesWeighted
Average
Fair Value
March 30, 2019166 $62.77 
Granted45 95.89 
Vested— — 
Forfeited(58)73.25 
March 28, 2020153 $68.71 
Granted28 83.96 
Vested— — 
Forfeited(48)64.92 
March 27, 2021133 $73.29 
Granted28 109.18 
Vested(30)50.11 
Forfeited(46)38.70 
March 26, 202285 $95.75 
Summary of Outstanding MSUs Expected to Vest Additional information with regard to outstanding MSUs that are expected to vest as of March 26, 2022 is as follows (in thousands, except year and per share amounts): 
SharesWeighted
Average
Fair Value		Weighted Average
Remaining Contractual
Term (years)
Expected to vest80 $95.52 1.75