STOCK-BASED COMPENSATION

3 Months Ended

Jun. 28, 2014

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Stock-based compensation expense of $3.5 million and $3.0 million was recognized for the three months ended June 28, 2014 and June 29, 2013, respectively. The related income tax benefit recognized was $1.1 million and $1.0 million for the three months ended June 28, 2014 and June 29, 2013, respectively.

The weighted average fair value for our options granted was $7.49 and $9.78 for the three months ended June 28, 2014 and June 29, 2013, respectively. The assumptions utilized for estimating the fair value of option grants during the periods presented are as follows:



	Three Months Ended
	June 28, 2014		June 29, 2013
Stock Options Black-Scholes assumptions (weighted average):
Volatility	22.62	%	26.22	%
Expected life (years)	4.9		5.0
Risk-free interest rate	1.64	%	1.41	%
Dividend yield	—	%	—	%

During the three months ended June 28, 2014 and June 29, 2013, there were 96,853 and 81,465 shares, respectively, purchased under the Employee Stock Purchase Plan at an average price of $25.85 and $32.73 per share, respectively.

- Definition

The entire disclosure for compensation-related costs for equity-based compensation, which may include disclosure of policies, compensation plan details, allocation of equity compensation, incentive distributions, equity-based arrangements to obtain goods and services, deferred compensation arrangements, employee stock ownership plan details and employee stock purchase plan details.

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