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Common Stock and Stock Plans (Tables)
12 Months Ended
Mar. 31, 2016
Equity [Abstract]  
Summary of Stock-based Compensation Expense

Total stock-based compensation expense recognized in accordance with the authoritative guidance for share-based payments was as follows:

 

     Fiscal Years Ended  
     March 31, 2016      April 3, 2015      April 4, 2014  
     (In thousands)  

Stock-based compensation expense before taxes

   $ 47,510       $ 39,353       $ 33,639   

Related income tax benefits

     (18,089      (14,889      (12,685
  

 

 

    

 

 

    

 

 

 

Stock-based compensation expense, net of taxes

   $ 29,421       $ 24,464       $ 20,954   
  

 

 

    

 

 

    

 

 

 

Summary of Employee Stock Options and Employee Stock Purchase Plan Weighted Average Assumptions

The weighted average estimated fair value of employee stock options granted and employee stock purchase plan shares issued during fiscal year 2016 was $20.35 and $13.37 per share, respectively, during fiscal year 2015 was $22.22 and $14.18 per share, respectively, and during fiscal year 2014 was $23.03 and $16.32 per share, respectively, using the Black-Scholes model with the following weighted average assumptions (annualized percentages):

 

     Employee Stock Options     Employee Stock Purchase Plan  
     Fiscal Year
2016
    Fiscal Year
2015
    Fiscal Year
2014
    Fiscal Year
2016
    Fiscal Year
2015
    Fiscal Year
2014
 

Volatility

     32.9     34.0     40.2     24.6     30.6     34.3

Risk-free interest rate

     1.7     1.7     1.3     0.3     0.1     0.1

Dividend yield

     0.0     0.0     0.0     0.0     0.0     0.0

Expected life

     5.5 years        5.5 years        5.5 years        0.5 years        0.5 years        0.5 years   
Summary of Employee Stock Option Activity

A summary of employee stock option activity for fiscal year 2016 is presented below:

 

     Number of
Shares
    Weighted Average
Exercise Price
per Share
     Weighted Average
Remaining
Contractual
Term in Years
     Aggregate Intrinsic
Value
(In thousands)
 

Outstanding at April 3, 2015

     1,827,143      $ 46.90         

Options granted

     439,000        61.42         

Options canceled

     —          —          

Options exercised

     (432,706     31.25         
  

 

 

         

Outstanding at March 31, 2016

     1,833,437      $ 54.07         3.57       $ 35,593   
  

 

 

         

Vested and exercisable at March 31, 2016

     921,513      $ 47.84         2.40       $ 23,632   
Summary of Restricted Stock Unit Activity

A summary of restricted stock unit activity for fiscal year 2016 is presented below:

 

     Number of
Restricted Stock
Units
     Weighted
Average Grant
Date Fair Value
per Share
 

Outstanding at April 3, 2015

     1,973,921       $ 55.42   

Awarded

     1,153,513         61.81   

Forfeited

     (55,052      58.48   

Released

     (703,043      52.30   
  

 

 

    

Outstanding at March 31, 2016

     2,369,339       $ 59.39   
  

 

 

    

Vested and deferred at March 31, 2016

     132,670       $ 35.30