CAPITAL STOCK (Tables)

12 Months Ended

Apr. 02, 2022

Share-based Payment Arrangement [Abstract]

Schedule of Stock-Based Compensation Cost

Compensation cost related to share-based transactions is recognized in the consolidated financial statements based on fair value. The total amount of share-based compensation expense, which is recorded on a straight line basis, is as follows:

(In thousands)	2022	2021	2020
Selling, general and administrative expenses	$20,694	$22,888	$18,022
Research and development	2,537	1,874	1,210
Cost of goods sold	1,128	754	1,222
	$24,359	$25,516	$20,454

Schedule of Summary of Stock Option Activity

A summary of stock option activity for the fiscal year ended April 2, 2022 is as follows:

	Options Outstanding	Weighted Average Exercise Price per Share		Weighted Average Remaining Life (years)	Aggregate Intrinsic Value ($000’s)
Outstanding at April 3, 2021	960,687	$	70.29	4.04	$	40,179
Granted	310,302	56.70
Exercised	(76,648)	38.24
Forfeited/Canceled	(137,703)	83.71
Outstanding at April 2, 2022	1,056,638	$	66.87	3.79	$	12,423
Exercisable at April 2, 2022	561,114	$	57.84	2.41	$	10,505
Vested or expected to vest at April 2, 2022	970,200	$	66.47	2.77	$	12,002

Schedule of Assumptions Utilized for Estimating Fair Value of Option Grants

The assumptions utilized for option grants during the periods presented are as follows:

	2022			2021			2020
Volatility	41.9		%	33.5		%	28.2		%
Expected life (years)	4.9			4.9			4.9
Risk-free interest rate	0.8		%	0.4		%	2.5		%
Dividend yield	0.0		%	0.0		%	0.0		%
Grant-date fair value per Option	$	20.97		$	30.53		$	28.25

Schedule of Assumptions Used, Other than Options

The weighted average rates used to determine the net periodic benefit costs and projected benefit obligations were as follows:

	2022		2021		2020
Discount rate	1.38	%	0.58	%	0.82	%
Rate of increased salary levels	1.81	%	1.64	%	1.74	%
Expected long-term rate of return on assets	0.69	%	0.42	%	0.31	%

The weighted-average grant-date fair value of RSUs granted and total fair value of RSUs vested are as follows:

	2022		2021		2020
Grant-date fair value per RSU	$	56.96	$	102.19	$	102.32
Fair value of RSUs vested	$	79.60	$	66.87	$	54.58

The assumptions used in the Monte Carlo model for PSUs granted during each fiscal year were as follows:

	2022		2021		2020
Expected stock price volatility	49.23	%	36.79	%	28.64	%
Peer group stock price volatility	45.75	%	42.31	%	29.77	%
Correlation of returns	65.06	%	65.12	%	50.30	%

The weighted-average grant-date fair value of PSUs granted and total fair value of PSUs vested are as follows:

	2022		2021		2019
Grant-date fair value per PSU	$	72.52	$	123.92	$	146.93
Fair value of PSUs vested	$	—	$	47.43	$	34.78

The fair values of shares purchased under the Employee Stock Purchase Plan are estimated using the Black-Scholes single option-pricing model with the following weighted average assumptions:

	2022		2021		2020
Volatility	55.6	%	49.8	%	34.7	%
Expected life (months)	6		6		6
Risk-free interest rate	0.1	%	0.1	%	2.0	%
Dividend Yield	0.0	%	0.0	%	0.0	%

Schedule of Summary of Restricted Stock Units Activity

A summary of RSU activity for the fiscal year ended April 2, 2022 is as follows:

	Shares	Weighted Average Grant Date Fair Value
Unvested at April 3, 2021	248,463	$	91.25
Granted	316,985	56.96
Vested	(115,045)	79.60
Forfeited	(63,867)	74.96
Unvested at April 2, 2022	386,536	$	69.27

Schedule of Performance Share Unit awards

A summary of PSU activity for the fiscal year ended April 2, 2022 is as follows:

	Shares	Weighted Average Grant Date Fair Value
Unvested at April 3, 2021	240,891	$	129.24
Granted(1)	106,069	72.52
Vested	—	—
Forfeited	(64,014)	107.04
Unvested at April 2, 2022	282,946	$	102.17
(1) Includes the adjustment of 70,672 shares for awards granted in fiscal 2019, based on actual relative total shareholder return of 0%