Stockholders' Equity

3 Months Ended

Jun. 27, 2026

Stockholders' Equity Note [Abstract]

Stockholders' Equity

Stockholders' Equity

Common Stock

The Company issued immaterial amounts of shares of common stock during both the three months ended June 27, 2026, and June 28, 2025, respectively.

Share Repurchase Program 

The Company's net stock repurchases are subject to a 1 percent excise tax under the Inflation Reduction Act, which is included as a reduction to accumulated earnings in the Consolidated Condensed Statements of Stockholders' Equity. As of June 27, 2026, approximately $2.1 million is accrued related to this excise tax. Disclosure of repurchased amounts and related average costs exclude the impact of excise taxes.

In March 2025, the Board of Directors authorized the repurchase of up to $500 million of the Company's common stock. As of June 27, 2026, approximately $260.4 million of the Company's common stock has been repurchased, leaving

approximately $239.6 million available for repurchase under the 2025 authorization. During the three months ended June 27, 2026, the Company repurchased 0.2 million shares of the Company's common stock for $34.5 million, at an average cost of $163.43 per share under the 2025 authorization. During the quarter ended June 27, 2026, $3.0 million is included in "Other accrued liabilities" on the Consolidated Condensed Balance Sheets, related to repurchases executed but not settled as of quarter end. The related cash payments were made subsequent to quarter-end.

Additionally, subsequent to June 27, 2026, as of August 5, 2026, the Company utilized $50.5 million to repurchase 0.4 million shares at an average price of $140.53 under a Rule 10b5-1 trading plan.