XML 38 R22.htm IDEA: XBRL DOCUMENT
v3.8.0.1

Stock-based Compensation | 6 Months Ended
--- | ---
Sep. 30, 2017
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] |
Stock-based Compensation | Stock-based Compensation The Company's stock-based compensation awards are currently issued under the 2010 Incentive Plan, which was approved by its stockholders on August 5, 2010. However, any prior awards granted under the 1997 Incentive Plan remain subject to the terms of that plan. Any awards that expire, are forfeited, or are surrendered to the Company in satisfaction of taxes are available for issuance under the 2010 Incentive Plan. Refer to Note 18 of the Fiscal 2017 10-K for a detailed description of the Company's stock-based compensation awards, including information related to vesting terms, service and performance conditions, and payout percentages. Impact on Results A summary of total stock-based compensation expense and the related income tax benefits recognized during the three-month and six-month periods ended September 30, 2017 and October 1, 2016 is as follows:
|  | Three Months Ended |  | Six Months Ended
|  | September 30, 2017 |  | October 1, 2016 |  | September 30, 2017 |  | October 1, 2016
|  | (millions)
Compensation expense |  | $ | 17.8 |  |  | $ | 14.2 |  |  | $ | 39.4 |  | (a) | $ | 31.9 |
Income tax benefit |  | (6.7 | ) |  | (5.2 | ) |  | (14.6 | ) |  | (11.7 | )
(a) | Includes $2.1 million of accelerated stock-based compensation expense recorded within restructuring and other charges in the consolidated statements of operations during the first quarter of Fiscal 2018 (see Note 8). All other stock-based compensation expense was recorded within SG&A expenses.
The Company issues its annual grants of stock-based compensation awards in the first half of each fiscal year. Due to the timing of the annual grants and other factors, including the timing and magnitude of forfeiture and performance goal achievement adjustments, as well as changes to the size and composition of the eligible employee population, stock-based compensation expense recognized during any given fiscal period is not indicative of the level of compensation expense expected to be incurred in future periods. Stock Options A summary of stock option activity under all plans during the six months ended September 30, 2017 is as follows:
|  | Number of Options
|  | (thousands)
Options outstanding at April 1, 2017 |  | 1,720 |
Granted |  | — |
Exercised |  | — |
Cancelled/Forfeited |  | (502 | )
Options outstanding at September 30, 2017 |  | 1,218 |
Restricted Stock Awards and Service-based RSUs The fair values of restricted stock awards granted to non-employee directors are determined based on the fair value of the Company's Class A common stock on the date of grant. No such awards were granted during the six-month periods ended September 30, 2017 and October 1, 2016. The fair values of service-based RSUs granted to certain of the Company's senior executives, as well as to certain of its other employees, are based on the fair value of the Company's Class A common stock on the date of grant, adjusted to reflect the absence of dividends for any awards not entitled to accrue dividend equivalents while outstanding. The weighted-average grant date fair values of service-based RSU awards granted were $72.70 and $83.67 per share during the six-month periods ended September 30, 2017 and October 1, 2016, respectively. A summary of restricted stock and service-based RSU activity during the six months ended September 30, 2017 is as follows:
|  | Number of Shares
|  | Restricted Stock |  | Service-based RSUs
|  | (thousands)
Nonvested at April 1, 2017 |  | 19 |  |  | 922 |
Granted |  | — |  |  | 678 |
Vested |  | — |  |  | (317 | )
Forfeited |  | — |  |  | (116 | )
Nonvested at September 30, 2017 |  | 19 |  |  | 1,167 |
Performance-based RSUs The fair values of the Company's performance-based RSUs that are not subject to a market condition in the form of a total shareholder return ("TSR") modifier are based on the fair value of the Company's Class A common stock on the date of grant, adjusted to reflect the absence of dividends for any awards not entitled to accrue dividend equivalents while outstanding. The weighted-average grant date fair values of performance-based RSUs that do not contain a TSR modifier granted during the six-month periods ended September 30, 2017 and October 1, 2016 were $69.40 and $85.95 per share, respectively. The fair values of the Company's performance-based RSUs with a TSR modifier are determined on the date of grant using a Monte Carlo simulation valuation model. This pricing model uses multiple simulations to evaluate the probability of the Company achieving various stock price levels to determine its expected TSR performance ranking. No such awards were granted during the six-month periods ended September 30, 2017 and October 1, 2016. A summary of performance-based RSU activity during the six months ended September 30, 2017 is as follows:
|  | Number of Shares
|  | Performance-based RSUs — without TSR Modifier |  | Performance-based RSUs — with TSR Modifier
|  | (thousands)
Nonvested at April 1, 2017 |  | 788 |  |  | 61 |
Granted |  | 585 |  |  | — |
Change due to performance/market condition achievement |  | (12 | ) |  | (21 | )
Vested |  | (149 | ) |  | (40 | )
Forfeited |  | (24 | ) |  | — |
Nonvested at September 30, 2017 |  | 1,188 |  |  | — |

X
- Definition The entire disclosure for compensation-related costs for equity-based compensation, which may include disclosure of policies, compensation plan details, allocation of equity compensation, incentive distributions, equity-based arrangements to obtain goods and services, deferred compensation arrangements, employee stock ownership plan details and employee stock purchase plan details. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -URI http://asc.fasb.org/topic&trid=2228938 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 50 -URI http://asc.fasb.org/subtopic&trid=2208855 + Details
Name: | us-gaap_DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration