Shareholders' Equity

6 Months Ended

Sep. 26, 2015

Equity [Abstract]

Shareholders' Equity

Shareholders’ Equity

Share Repurchase Program

On October 30, 2014, the Company’s Board of Directors authorized a $1.0 billion share repurchase program, which authorized the repurchase of the Company’s shares for a period of two years. On May 20, 2015, the Company’s Board of Directors authorized the repurchase of up to an additional $500.0 million under the Company’s existing share repurchase program and extended the program through May 2017. During the six months ended September 26, 2015, the Company repurchased 16,384,737 shares at a cost of $750.0 million under its share-repurchase program through open market transactions. As of September 26, 2015, the remaining availability under the Company’s share repurchase program was $258.1 million.

On November 3, 2015, the Company's Board of Directors authorized a further increase in the share repurchase program of up to an additional $500 million of the Company's ordinary shares and extended the program through March 2018.

The Company also has in place a “withhold to cover” repurchase program, which allows the Company to withhold ordinary shares from certain executive officers to satisfy minimum tax withholding obligations relating to the vesting of their restricted share awards. During the six-month periods ended September 26, 2015 and September 27, 2014, the Company withheld 22,540 shares and 11,022 shares, respectively, at a cost of $1.1 million and $1.0 million, respectively, in satisfaction of minimum tax withholding obligations relating to the vesting of restricted share awards.