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Common Stock and Stock Plans (Tables)
12 Months Ended
Mar. 29, 2013
Summary of Stock-based Compensation Expense

Total stock-based compensation expense recognized in accordance with the authoritative guidance for share-based payments was as follows:

 

     Fiscal Years Ended  
     March 29, 2013     March 30, 2012     April 1, 2011  
     (In thousands)  

Stock-based compensation expense before taxes

   $ 27,035      $ 21,382      $ 17,440   

Related income tax benefits

     (10,213     (8,010     (6,511
  

 

 

   

 

 

   

 

 

 

Stock-based compensation expense, net of taxes

   $ 16,822      $ 13,372      $ 10,929   
  

 

 

   

 

 

   

 

 

 
Summary of Stock Options and Employee Stock Purchase Plan Weighted Average Assumptions

The weighted average estimated fair value of employee stock options granted and employee stock purchase plan shares issued during fiscal year 2013 was $13.96 and $9.02 per share, respectively, during fiscal year 2012 was $17.36 and $11.74 per share, respectively, and during fiscal year 2011 was $14.24 and $8.55 per share, respectively, using the Black-Scholes model with the following weighted average assumptions (annualized percentages):

 

     Employee Stock Options     Employee Stock Purchase Plan  
     Fiscal Year
2013
    Fiscal Year
2012
    Fiscal Year
2011
    Fiscal Year
2013
    Fiscal Year
2012
    Fiscal Year
2011
 

Volatility

     41.2     41.4     42.2     30.0     38.4     28.3

Risk-free interest rate

     0.7     0.9     0.9     0.1     0.1     0.2

Dividend yield

     0.0     0.0     0.0     0.0     0.0     0.0

Expected life

     5.5 years        5.5 years        4.2 years        0.5 years        0.5 years        0.5 years   
Summary of Employee Stock Option Activity

A summary of employee stock option activity for fiscal year 2013 is presented below:

 

     Number of
Shares
    Weighted Average
Exercise Price
per Share
     Weighted  Average
Remaining
Contractual
Term in Years
     Aggregate  Intrinsic
Value
(In thousands)
 

Outstanding at March 30, 2012

     3,401,634      $ 26.00         

Options granted

     290,700        36.46         

Options canceled

     (84,097     40.59         

Options exercised

     (1,178,573     21.99         
  

 

 

         

Outstanding at March 29, 2013

     2,429,664      $ 28.69         2.68       $ 47,984   
  

 

 

         

Vested and exercisable at March 29, 2013

     1,744,566      $ 24.72         1.90       $ 41,386   
Summary of Transactions Related to Company's Stock Options

Transactions related to the Company’s stock options are summarized as follows:

 

     Number of
Shares
    Weighted Average
Exercise Price
per Share
 

Outstanding at April 2, 2010

     4,718,176      20.90   

Options granted

     266,250        41.26   

Options canceled

     (20,543     27.40   

Options exercised

     (1,124,415     19.60   
  

 

 

   

Outstanding at April 1, 2011

     3,839,468        22.66   

Options granted

     368,000        44.73   

Options canceled

     (10,200     32.11   

Options exercised

     (795,634     18.45   
  

 

 

   

Outstanding at March 30, 2012

     3,401,634        26.00   

Options granted

     290,700        36.46   

Options canceled

     (84,097     40.59   

Options exercised

     (1,178,573     21.99   
  

 

 

   

Outstanding at March 29, 2013

     2,429,664      $ 28.69   
  

 

 

   
Summary of Restricted Stock Unit Activity

A summary of restricted stock unit activity for fiscal year 2013 is presented below:

 

     Number of
Restricted Stock
Units
    Weighted
Average  Grant
Date Fair Value
per Share
 

Outstanding at March 30, 2012

     1,725,370      $ 37.57   

Awarded

     732,009        36.82   

Forfeited

     (59,482     40.95   

Released

     (612,233     38.01   
  

 

 

   

Outstanding at March 29, 2013

     1,785,664      $ 38.29   
  

 

 

   

Vested and deferred at March 29, 2013

     106,110      $ 28.52   
Summary of Transactions Related to Company's Restricted Stock Units

Transactions related to the Company’s restricted stock units are summarized as follows:

 

     Number of
Restricted Stock
Units
 

Outstanding at April 2, 2010

     1,389,615   

Awarded

     630,056   

Forfeited

     (37,035

Released

     (433,173
  

 

 

 

Outstanding at April 1, 2011

     1,549,463   

Awarded

     684,692   

Forfeited

     (36,474

Released

     (472,311
  

 

 

 

Outstanding at March 30, 2012

     1,725,370   

Awarded

     732,009   

Forfeited

     (59,482

Released

     (612,233
  

 

 

 

Outstanding at March 29, 2013

     1,785,664