STOCK-BASED COMPENSATION (Tables)

12 Months Ended

Apr. 01, 2023

Share-Based Payment Arrangement [Abstract]

Schedule of Total Stock-Based Compensation Cost and Associated Income Tax Benefits

Total stock-based compensation cost and the associated income tax benefits recognized in the Consolidated Statements of Operations are as follows:

	Year Ended March
(In thousands)	2023		2022		2021
Stock-based compensation cost	$	60,354	$	91,358	$	70,823
Income tax benefits	13,714		21,917		17,373

Schedule of Assumption Used and Resulting Weighted Average Fair Value of Stock Option Granted

The grant date fair value of each option award was calculated using a lattice option-pricing valuation model, which incorporated a range of assumptions for inputs as follows:

	Year Ended March
	2023	2022	2021
Expected volatility	30% to 46%	28% to 41%	28% to 48%
Weighted average expected volatility	39%	36%	37%
Expected term (in years)	6.0 to 7.8	6.1 to 7.9	6.2 to 8.0
Weighted average dividend yield	2.9%	2.6%	2.4%
Risk-free interest rate	1.53% to 4.89%	0.04% to 1.81%	0.07% to 1.11%
Weighted average fair value at date of grant	$13.46	$20.17	$15.81

Schedule of Stock Option Activity

Stock option activity for the year ended March 2023 is summarized as follows:

	Number of Shares	Weighted Average Exercise Price		Weighted Average Remaining Contractual Term (Years)	Aggregate Intrinsic Value (In thousands)
Outstanding, March 2022	8,047,657	$	66.04
Granted	2,478,515	45.10
Exercised	(53,567)	42.57
Forfeited/cancelled	(1,421,277)	53.48
Outstanding, March 2023	9,051,328	$	62.42	6.2	$	—
Exercisable, March 2023	5,973,499	$	66.08	5.0	$	—

Schedule of RSU Activity

RSU activity for the year ended March 2023 is summarized as follows:

	Performance-based			Nonperformance-based
	Number Outstanding (a)	Weighted Average Grant Date Fair Value		Number Outstanding	Weighted Average Grant Date Fair Value
Outstanding, March 2022	912,963	$	80.75	901,956	$	71.42
Granted	364,192	45.23		1,103,228	38.31
Issued as Common Stock	(248,203)	84.27		(207,011)	64.42
Forfeited/cancelled	(165,024)	53.78		(220,133)	59.46
Outstanding, March 2023	863,928	$	69.92	1,578,040	$	50.85
Vested, March 2023	551,338	$	72.68	112,197	$	67.09

(a)Reflects activity at target level of awards and has not been adjusted for performance and market conditions.

Schedule of Restricted Stock Activity

Restricted stock activity for the year ended March 2023 is summarized below:

	Nonvested Shares Outstanding	Weighted Average Grant Date Fair Value
Nonvested shares, March 2022	854,410	$	79.43
Granted	125,981	35.72
Dividend equivalents	15,587	30.52
Vested	(377,702)	82.99
Forfeited	(20,141)	65.30
Nonvested shares, March 2023	598,135	$	67.17