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Stock-based Compensation | 3 Months Ended
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Jun. 30, 2018
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 17 of the Fiscal 2018 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 periods ended June 30, 2018 and July 1, 2017 is as follows:
|  | Three Months Ended |
|  | June 30, 2018 |  | July 1, 2017 |
|  | (millions) |
Compensation expense |  | $ | 21.5 |  |  | $ | 21.6 |  | (a)
Income tax benefit |  | (3.2 | ) |  | (7.9 | ) |
(a) | The three months ended July 1, 2017 includes $2.1 million of accelerated stock-based compensation expense recorded within restructuring and other charges in the consolidated statements of operations (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 three months ended June 30, 2018 is as follows:
|  | Number of Options
|  | (thousands)
Options outstanding at March 31, 2018 |  | 1,151 |
Granted |  | — |
Exercised |  | (162 | )
Cancelled/Forfeited |  | (82 | )
Options outstanding at June 30, 2018 |  | 907 |
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 three-month periods ended June 30, 2018 and July 1, 2017. Effective beginning Fiscal 2019, non-employee directors are granted service-based RSUs. The fair values of service-based RSUs granted to certain of the Company's senior executives and other employees, as well as non-employee directors, 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 $107.38 and $72.83 per share during the three-month periods ended June 30, 2018 and July 1, 2017, respectively. A summary of restricted stock and service-based RSU activity during the three months ended June 30, 2018 is as follows:
|  | Number of Shares
|  | Restricted Stock |  | Service-based RSUs
|  | (thousands)
Nonvested at March 31, 2018 |  | 19 |  |  | 1,072 |
Granted |  | — |  |  | 370 |
Vested |  | (9 | ) |  | (387 | )
Forfeited |  | — |  |  | (62 | )
Nonvested at June 30, 2018 |  | 10 |  |  | 993 |
Performance-based RSUs The fair values of the Company's performance-based RSUs granted to its senior executives and other key executives 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 value of performance-based RSUs granted during the three months ended July 1, 2017 was $69.39 per share. No such awards were granted during the three months ended June 30, 2018. A summary of performance-based RSU activity during the three months ended June 30, 2018 is as follows:
|  | Number of Performance-based RSUs
|  | (thousands)
Nonvested at March 31, 2018 |  | 1,157 |
Granted |  | — |
Change due to performance condition achievement |  | (29 | )
Vested |  | (232 | )
Forfeited |  | (18 | )
Nonvested at June 30, 2018 |  | 878 |

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- 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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -URI http://asc.fasb.org/topic&trid=2228938 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 50 -URI http://asc.fasb.org/subtopic&trid=2208855 + Details
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