XML 82 R60.htm IDEA: XBRL DOCUMENT v3.24.1.1.u2
STOCK-BASED COMPENSATION (Tables)
 12 Months Ended
Mar. 30, 2024
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)202420232022
Stock-based compensation cost$67,332 $60,354 $91,358 
Income tax benefits15,018 13,714 21,917 
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
202420232022
Expected volatility
33% to 54%
30% to 46%
28% to 41%
Weighted average expected volatility42%39%36%
Expected term (in years)
5.9 to 7.8
6.0 to 7.8
6.1 to 7.9
Weighted average dividend yield3.7%2.9%2.6%
Risk-free interest rate
3.80% to 5.50%
1.53% to 4.89%
0.04% to 1.81%
Weighted average fair value at date of grant$5.74$13.46$20.17
Schedule of Stock Option Activity
Stock option activity for the year ended March 2024 is summarized as follows:
Number of SharesWeighted Average Exercise PriceWeighted Average Remaining Contractual Term (Years)Aggregate Intrinsic Value
(In thousands)
Outstanding, March 20239,051,328 $62.42 
Granted5,869,857 18.10 
Exercised— — 
Forfeited/cancelled(1,886,645)44.58 
Outstanding, March 202413,034,540 $45.04 6.9$223 
Exercisable, March 20246,517,404 $64.57 4.8$— 
Schedule of RSU Activity
RSU activity for the year ended March 2024 is summarized as follows:
 Performance-basedNonperformance-based
 
Number Outstanding (a)
Weighted Average
Grant Date
Fair Value		Number OutstandingWeighted Average
Grant Date
Fair Value
Outstanding, March 2023863,928 $69.92 1,578,040 $50.85 
Granted709,338 18.29 3,586,940 17.09 
Issued as Common Stock(13,033)70.86 (363,353)59.41 
Forfeited/cancelled (b)
(427,911)63.12 (496,331)26.95 
Outstanding, March 20241,132,322 $40.14 4,305,296 $24.68 
Vested, March 2024515,967 $58.63 338,605 $25.44 
(a)Reflects activity at target level of awards and has not been adjusted for performance and market conditions, except for awards issued during the period.
(b)Includes adjustment for performance and market conditions for awards issued during the period.
Schedule of Restricted Stock Activity
Restricted stock activity for the year ended March 2024 is summarized below:
Nonvested Shares OutstandingWeighted Average Grant Date Fair Value
Nonvested shares, March 2023598,135 $67.17 
Granted— — 
Dividend equivalents8,696 18.41 
Vested(248,590)78.06 
Forfeited(95,158)37.78 
Nonvested shares, March 2024263,083 $65.90