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Equity Compensation (Tables)
 12 Months Ended
Mar. 28, 2020
Summary of Activity in Total Stock Available for Grant
The following table summarizes the activity in total shares available for grant (in thousands):
 
 Shares
 Available for
 Grant
Balance, March 25, 20174,692  
Shares added—  
Granted(1,755) 
Forfeited128  
Balance, March 31, 20183,065  
Shares added2,509  
Granted(2,371) 
Forfeited120  
Balance, March 30, 20193,323  
Shares added248  
Granted(1,686) 
Forfeited210  
Balance, March 28, 20202,095  
Summary of Effect of Stock-Based Compensation
The following table summarizes the effects of stock-based compensation on cost of goods sold, research and development, sales, general and administrative, pre-tax income, and net income after taxes for shares granted under the Plan (in thousands, except per share amounts):
 
 Fiscal Year
 202020192018
Cost of sales$908  $877  $1,474  
Research and development33,859  29,115  26,137  
Sales, general and administrative18,990  19,697  21,130  
Effect on pre-tax income53,757  49,689  48,741  
Income Tax Benefit(9,336) (5,748) (5,953) 
Total stock-based compensation expense (net of taxes)44,421  43,941  42,788  
Stock-based compensation effects on basic earnings per share$0.76  $0.73  $0.67  
Stock-based compensation effects on diluted earnings per share0.73  0.71  0.65  
Schedule of Fair Value of Stock Option Grants
We estimate the fair value of each stock option on the date of grant using the Black-Scholes option-pricing model using a dividend yield of zero and the following additional assumptions:
 
March 28, 2020March 30, 2019March 31, 2018
Expected stock price volatility
37.17% - 41.61%
38.00% - 38.14%
37.36 %
Risk-free interest rate
1.54% - 2.29%
2.57% - 2.94%
1.67 %
Expected term (in years)
3.81 - 4.55
3.12 - 3.73
3.03
Schedule of Stock Option Activity
Additional information with respect to stock option activity is as follows (in thousands, except per share amounts):
 
 Outstanding Options
NumberWeighted
Average
Exercise Price
Balance, March 25, 20171,758  $27.25  
Options granted216  55.72  
Options exercised(234) 18.84  
Options forfeited—  —  
Options expired—  —  
Balance, March 31, 20181,740  $31.91  
Options granted280  40.41  
Options exercised(108) 15.03  
Options forfeited(38) 49.62  
Options expired(9) 55.01  
Balance, March 30, 20191,865  $33.68  
Options granted169  66.93  
Options exercised(780) 23.90  
Options forfeited(27) 50.75  
Options expired(11) 55.03  
Balance, March 28, 20201,216  $44.01  
Summary of Outstanding Options Vesting, Expected to Vest, or Exercisable
Additional information with regards to outstanding options that are vesting, expected to vest, or exercisable as of March 28, 2020 is as follows (in thousands, except years and per share amounts):
 
Number of
Options		Weighted
Average
Exercise price		Weighted Average
Remaining Contractual
Term (years)		Aggregate
Intrinsic Value
Vested and expected to vest1,205  $43.90  6.49$22,733  
Exercisable781  $38.41  5.31$18,360  
Summary of Outstanding and Exercisable Options
The following table summarizes information regarding outstanding and exercisable options as of March 28, 2020 (in thousands, except per share amounts):
 
 Options OutstandingOptions Exercisable
Weighted Average
Remaining
Contractual Life		Weighted
Average Exercise		NumberWeighted
Average
Range of Exercise PricesNumber(years)PriceExercisableExercise Price
$14.58 - $31.25
324  4.51$26.98  324  $26.98  
$33.38 - $38.99
240  4.7638.11  188  38.11  
$41.49 - $42.64
183  8.6341.56  54  41.49  
$54.65 - $54.65
154  6.6054.65  127  54.65  
$55.72 - $55.72
157  7.6055.72  88  55.72  
$68.56 - $68.56
158  9.6168.56  —  —  
1,216  6.51$44.01  781  $38.41  
Summary of Restricted Stock Units Vesting or Expected to Vest Additional information with regards to outstanding RSUs that are expected to vest as of March 28, 2020, is as follows (in thousands, except year and per share amounts):
 
SharesWeighted
Average
Fair Value		Weighted Average
Remaining Contractual
Term (years)
Expected to vest2,558  $53.60  1.59
Summary of Monte Carlo Simulation Assumptions for Market Stock Units
The fair values estimated from the Monte Carlo simulation were calculated using a dividend yield of zero and the following additional assumptions:
 
 Fiscal Years Ended
March 28,
2020		March 30,
2019
Expected stock price volatility
37.17% - 41.61%
38.00% - 38.14%
Risk-free interest rate
1.59% - 2.28%
2.62% - 3.01%
Expected term (in years)3.003.00
Schedule of Market Stock Units Activity A summary of the activity for MSUs in fiscal year 2020, 2019, and 2018 is presented below (in thousands, except year and per share amounts):
 
SharesWeighted
Average
Fair Value
March 25, 2017180  $47.30  
Granted89  47.26  
Vested(70) 22.00  
Forfeited—  —  
March 31, 2018199  $56.16  
Granted68  53.13  
Vested—  —  
Forfeited(101) 43.41  
March 30, 2019166  $62.77  
Granted45  95.89  
Vested—  —  
Forfeited(58) 73.25  
March 28, 2020153  $68.71  
Summary of Outstanding MSUs Expected to Vest Additional information with regard to outstanding MSUs that are expected to vest as of March 28, 2020 is as follows (in thousands, except year and per share amounts):
 
SharesWeighted
Average
Fair Value		Weighted Average
Remaining Contractual
Term (years)
Expected to vest147  $68.38  1.53
Restricted Stock Units (RSUs)  
Summary of Restricted Stock and Restricted Stock Units Activity A summary of the activity for RSUs in fiscal year 2020, 2019, and 2018 is presented below (in thousands, except year and per share amounts):
 
SharesWeighted
Average
Fair Value
March 25, 20172,995  $34.91  
Granted936  55.79  
Vested(1,077) 24.79  
Forfeited(85) 41.09  
March 31, 20182,769  $45.70  
Granted1,416  40.57  
Vested(1,176) 33.65  
Forfeited(175) 48.15  
March 30, 20192,834  $47.99  
Granted1,014  66.76  
Vested(897) 51.20  
Forfeited(271) 50.82  
March 28, 20202,680  $53.74