STOCK-BASED COMPENSATION

3 Months Ended

Jun. 27, 2015

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

Total stock-based compensation expense of $3.2 million and $3.5 million was recognized for the three months ended June 27, 2015 and June 28, 2014, respectively. There was no income tax benefit recognized for the three months ended June 27, 2015 and the related income tax benefit recognized was $1.1 million for the three months ended June 28, 2014.

The weighted average fair value for our options granted was $9.98 and $7.49 per share for the three months ended June 27, 2015 and June 28, 2014, respectively. The assumptions utilized for estimating the fair value of option grants during the periods presented are as follows:



	Three Months Ended
	June 27, 2015		June 28, 2014
Stock Options Black-Scholes assumptions (weighted average):
Volatility	22.38	%	22.62	%
Expected life (years)	4.9		4.9
Risk-free interest rate	1.75	%	1.64	%
Dividend yield	—	%	—	%

As of June 27, 2015, there was $21.9 million of total unrecognized compensation cost related to non-vested equity based compensation, including stock options, restricted stock units, market stock units and performance share units. This cost is expected to be recognized over a weighted average period of 2.13 years.

During the three months ended June 27, 2015 and June 28, 2014, there were 73,360 and 96,853 shares, respectively, purchased under the Employee Stock Purchase Plan at an average price of $30.84 and $25.85 per share, respectively.