Stockholder's Equity

12 Months Ended

Mar. 26, 2016

Stockholder's Equity [Abstract]

Stockholder's Equity

14.      Stockholders’ Equity

Share Repurchase Program

On November 20, 2012, we announced that our Board of Directors authorized a share repurchase program of up to $200 million of the Company’s common stock.  As of March 26, 2016, the Company had repurchased 7.9 million shares at a cost ofapproximately $200.0 million, or an average cost of $25.19 per share.  Of this total, 1.7 million shares were purchased in the current fiscal year at a cost of $51.7 million, or an average cost of $29.92 per share.  There are no outstanding remaining available repurchase obligations under this plan.  All repurchased common stock shares were retired.   

On October 28, 2015, the Company announced that the Board of Directors authorized a share repurchase program of up to $200 million of the Company’s common stock.  As of March 26, 2016, the Company had repurchased 0.3 million shares under this plan at a cost of approximately $8.8 million, or an average cost of $31.58 per share.  Approximately $191.2 million remains available for repurchase under this plan.  All of these shares were repurchased in the open market and were funded from existing cash.  All shares of our common stock that were repurchased were retired as of March 26, 2016.  

Preferred Stock

We have 5.0 million shares of Preferred Stock authorized.  As of March 26, 2016, we have not issued any of the authorized shares.