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Stockholders' Equity
9 Months Ended
Jan. 03, 2016
Equity [Abstract]  
Stockholders' Equity
Stockholders' Equity
Stock Repurchase Program. In April 2015, the Company's Board of Directors approved a new share repurchase program authorization for $300 million. In October 2015, the Company's Board of Directors approved an increase in the share repurchase authorization by another $300 million. In the three and nine months ended January 3, 2016, the Company repurchased 10.7 million shares for $267.2 million and 14.5 million shares for $344.2 million, respectively. Of the total repurchases for the nine months ended January 3, 2016, $7.9 million was from the old authorization. As of January 3, 2016, approximately $263.7 million was available for future purchase under the new share repurchase program.

Accelerated Share Repurchase. On November 2, 2015, the Company separately entered into an accelerated share repurchase agreement (the ASR Agreements) with JPMorgan Chase Bank and Bank of America (the Dealers) to repurchase a total of $225 million of its common stock. Pursuant to the terms of the ASR agreements, approximately 7.0 million shares of its common stock were received by the Company on November 5, 2015. At settlement of the ASR Agreements, which is expected to occur during the fourth quarter of fiscal 2016, the Dealers may be required to deliver additional shares of common stock to the Company, or under certain circumstances, the Company may be required to deliver shares of its common stock or may elect to make a cash payment to the Dealers, with the number of shares to be delivered or the amount of such payment based on the differences between the volume-weighted average price, less a discount, of the Company’s common stock during the term of the transaction and the initial $225 million paid. The ASR Agreements were entered into pursuant to the Company’s increase in share repurchase authorization effective October 2015. Of the total initial amount paid to the Dealers, $45 million represents prepayment for subsequent settlement of the ASR Agreements, as of January 3, 2016. In accordance with ASC 815-40, Derivatives and Hedging - Contracts in an Entity’s Own Equity, the payments made under the ASR Agreements were classified as equity in the Company's Condensed Consolidated Balance Sheets.
In January 2016, the ASR Agreements settled resulting in the repurchase of 1.6 million of the Company’s common stock at an average price per share of $28.32.