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Common Stock and Stock Plans (Tables)
12 Months Ended
Mar. 31, 2017
Equity [Abstract]  
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 31, 2017      March 31, 2016      April 3, 2015  
     (In thousands)  

Stock-based compensation expense before taxes

   $ 55,775      $ 47,510      $ 39,353  

Related income tax benefits

     (21,057      (18,089      (14,889
  

 

 

    

 

 

    

 

 

 

Stock-based compensation expense, net of taxes

   $ 34,718      $ 29,421      $ 24,464  
  

 

 

    

 

 

    

 

 

 
Summary of Employee 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 2017 was $23.62 and $16.27 per share, respectively, during fiscal year 2016 was $20.35 and $13.37 per share, respectively, and during fiscal year 2015 was $22.22 and $14.18 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
2017
    Fiscal Year
2016
    Fiscal Year
2015
    Fiscal Year
2017
    Fiscal Year
2016
    Fiscal Year
2015
 

Volatility

     33.4     32.9     34.0     31.1     24.6     30.6

Risk-free interest rate

     1.7     1.7     1.7     0.5     0.3     0.1

Dividend yield

     0.0     0.0     0.0     0.0     0.0     0.0

Expected life

     5.5 years       5.5 years       5.5 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 2017 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 31, 2016

     1,833,437     $ 54.07        

Options granted

     463,000       70.09        

Options canceled

     (19,125     64.66        

Options exercised

     (273,050     44.37        
  

 

 

         

Outstanding at March 31, 2017

     2,004,262     $ 58.99        3.53      $ 13,283  
  

 

 

         

Vested and exercisable at March 31, 2017

     1,011,200     $ 52.19        2.31      $ 12,147  
Summary of Restricted Stock Unit Activity

A summary of restricted stock unit activity for fiscal year 2017 is presented below:

 

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

Outstanding at March 31, 2016

     2,369,339      $ 59.39  

Awarded

     1,195,961        69.99  

Forfeited

     (93,330      66.01  

Released

     (792,616      57.44  
  

 

 

    

Outstanding at March 31, 2017

     2,679,354      $ 64.47  
  

 

 

    

Vested and deferred at March 31, 2017

     148,503      $ 38.19