STOCK-BASED COMPENSATION

6 Months Ended

Sep. 26, 2015

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

Total stock-based compensation expense of $3.9 million and $6.9 million was recognized for the six months ended September 26, 2015 and September 27, 2014, respectively. The related income tax benefit recognized was $1.2 million and $2.2 million for the six months ended September 26, 2015 and September 27, 2014, respectively.

The weighted average fair value for our options granted was $9.05 and $8.08 per share for the six months ended September 26, 2015 and September 27, 2014, respectively. The assumptions utilized for estimating the fair value of option grants during the periods presented are as follows:



	Six Months Ended
	September 26, 2015		September 27, 2014
Stock Options Black-Scholes assumptions (weighted average):
Volatility	22.15	%	22.62	%
Expected life (years)	4.9		4.9
Risk-free interest rate	1.65	%	1.80	%
Dividend yield	—	%	—	%

As of September 26, 2015, there was $17.8 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 2.3 years.

During the six months ended September 26, 2015 and September 27, 2014, there were 73,360 and 97,415 shares, respectively, purchased under the Employee Stock Purchase Plan at an average price of $30.84 and $25.85 per share, respectively.