Stockholders' Equity

12 Months Ended

Mar. 29, 2015

Equity [Abstract]

Stockholders' Equity

Note 10. Stockholders’ Equity

Capital Stock

The Company’s authorized capital consists of 1 million shares of preferred stock, par value $0.001 per share, and 500 million shares of common stock, par value $0.001 per share. As of March 29, 2015 and March 30, 2014, the Company had 215.5 million and 213.8 million shares of common stock issued, respectively. As of March 29, 2015, 22.8 million shares of common stock were reserved for the exercise of issued and unissued stock-based awards and 1.7 million shares were reserved for issuance in connection with the Company’s Employee Stock Purchase Plan.

Treasury Stock

Since fiscal 2003, the Company’s Board of Directors has authorized various programs for the purchase of the Company’s outstanding common stock, including a program approved in October 2014 that authorized the purchase of up to $100 million of the Company’s outstanding common stock over a period of up to 18 months. Pursuant to the October 2014 stock repurchase program, the Company is authorized to purchase shares with an aggregate cost of up to $78.0 million as of March 29, 2015.

As of March 29, 2015, the Company had purchased a total of 128.3 million shares of common stock under these repurchase programs for an aggregate purchase price of $1.96 billion. Repurchased shares have been recorded as treasury shares and will be held unless and until the Company’s Board of Directors designates that these shares be retired or used for other purposes.

The Company excluded purchases of common stock totaling $0.9 million and $1.2 million from its consolidated statements of cash flows for fiscal 2015 and 2013, respectively, which amounts were unpaid as of the end of the respective fiscal year.