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Share-Based Compensation (Tables)

12 Months Ended

Mar. 30, 2013

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

Share-based compensation expense was included in the Company’s Consolidated Statements of Operations as follows:



(In thousands)	2013		2012		2011
Cost of sales	$	898	$	1,118	$	1,084
Selling, service and administration	5,330		8,244		6,688
Research, development and engineering	1,860		2,113		1,554
Total share-based compensation expense	$	8,088	$	11,475	$	9,326

Fair value assumptions of options and SARs granted

The Black-Scholes option pricing model is utilized to determine the fair value of options and SARs granted. The following weighted average assumptions were used in calculating the fair value during the periods presented:



	2013		2012		2011
Risk-free interest rate	1.63	%	1.86	%	2.08	%
Expected dividend yield	2.6	%	—	%	—	%
Expected lives	1.5 years		6.2 years		5.5 years
Expected volatility	47	%	45	%	47	%

Fair value assumptions for ESPP

The following weighted average assumptions were used to estimate the fair value of ESPP shares issued during the periods presented:



	2013		2012		2011
Risk-free interest rate	0.18	%	0.12	%	0.34	%
Expected dividend yield	3.0	%	2.3	%	—	%
Expected lives	1.1 years		1.1 years		1.1 years
Expected volatility	43	%	49	%	44	%

Summary of awards

The weighted-average fair-value of share-based compensation awards, including stock option and SAR awards granted and vested during the period, unvested restricted stock unit awards granted during the period and the intrinsic value of stock options and SARs exercised during the period were:



(In thousands, except per share data)	2013		2012		2011
Stock-Option and SAR Awards:
Grant date fair value per share	$	4.82	$	8.49	$	6.35
Total fair value of options and SARs granted	$	25	$	1,646	$	1,220
Total fair value of options and SARs vested	$	2,050	$	1,845	$	1,322
Total intrinsic value of options and SARs exercised	$	230	$	1,170	$	444
Unvested Restricted Stock Unit Awards:
Grant date fair value per share	$	8.05	$	18.40	$	14.18
Total fair value of awards granted	$	7,026	$	8,985	$	7,766
Total fair value of awards vested	$	6,266	$	5,417	$	4,556
Employee Stock Purchase Plan:
Grant date fair value per share	$	3.22	$	3.85	$	2.76
Total grant date fair value	$	869	$	977	$	1,109

Stock option activity

Information with respect to stock option and SAR activity was as follows:



	Shares		Weighted Average Exercise Price		Weighted Average Remaining Contractual Term (In years)	Aggregate Intrinsic Value (In thousands)
Outstanding at March 31, 2012	3,185,956		$	19.61
Granted	5,000		12.03
Exercised	(56,915	)	8.13
Expired or forfeited	(360,253	)	27.41
Outstanding at March 30, 2013	2,773,788		$	17.98	3.40	$	1,959
Vested and expected to vest at March 30, 2013	2,760,106		$	17.99	3.34	$	1,955
Exercisable at March 30, 2013	2,396,961		$	18.86	2.81	$	1,348

Restricted stock activity

Information with respect to unvested restricted stock unit awards activity was as follows:



	Shares		Weighted Average Grant Date Fair Value		Weighted Average Remaining Contractual Term (In years)	Aggregate Intrinsic Value (In thousands)
Outstanding at March 31, 2012	1,157,232		$	15.33
Awarded	873,008		8.05
Vested	(478,362	)	13.10
Forfeited	(86,862	)	13.93
Outstanding at March 30, 2013	1,465,016		$	11.80	1.48	$	16,188

- Definition

Tabular disclosure of components of a stock option or other award plan under which equity-based compensation is awarded to employees, typically comprised of the amount of unearned compensation (deferred compensation cost), compensation expense, and changes in the quantity and fair value of the shares (or other type of equity) granted, exercised, forfeited, and issued and outstanding pertaining to that plan. Disclosure may also include nature and general terms of such arrangements that existed during the period and potential effects of those arrangements on shareholders, effect of compensation cost arising from equity-based payment arrangements on the income statement, method of estimating the fair value of the goods or services received, or the fair value of the equity instruments granted, during the period, cash flow effects resulting from equity-based payment arrangements and, for registrants that accelerate vesting of out of the money share options, reasons for the decision to accelerate.

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- Definition

Tabular disclosure of the allocation of equity-based compensation costs to a given line item on the balance sheet and income statement for the period. This may include the reporting line for the costs and the amount capitalized and expensed.

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