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Stock-based Compensation (Tables) | 12 Months Ended
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Apr. 02, 2022
Share-based Payment Arrangement [Abstract] |
Summary of the total compensation expense and the associated income tax benefits recognized related to stock-based compensation arrangements | A summary of total stock-based compensation expense and the related income tax benefits recognized is as follows:
|  | Fiscal Years Ended
|  | April 2, 2022 |  | March 27, 2021 |  | March 28, 2020
|  | (millions)
Compensation expense(a) |  | $ | 81.7 |  |  | $ | 72.7 |  |  | $ | 100.6 |
Income tax benefit |  | (13.0) |  |  | (12.4) |  |  | (15.3) |
(a)Fiscal 2022 and Fiscal 2020 include $2.0 million and $3.6 million, respectively, of accelerated stock-based compensation expense recorded within restructuring and other charges, net in the consolidated statements of operations (see Note 9). All other stock-based compensation expense was recorded within SG&A expenses.
Summary of the stock option activity under all plans | A summary of stock option activity during Fiscal 2022 is as follows:
|  | Number of Shares |  | Weighted-Average Exercise Price |  | Weighted-Average Remaining Contractual Term |  | Aggregate Intrinsic Value(a)
|  | (thousands) |  |  |  | (years) |  | (millions)
Options outstanding at March 27, 2021 |  | 255 |  |  | $ | 159.83 |  |  | 0.3 |  | $ | — |
Granted |  | — |  |  | N/A |  |  |  |
Exercised |  | — |  |  | N/A |  |  |  |
Cancelled/Forfeited |  | (255) |  |  | 159.83 |  |  |  |  |
Options outstanding at April 2, 2022 |  | — |  |  | N/A |  | N/A |  | N/A
Options vested at April 2, 2022(b) |  | — |  |  | N/A |  | N/A |  | N/A
Options exercisable at April 2, 2022 |  | — |  |  | N/A |  | N/A |  | N/A
(a)Aggregate intrinsic value is the amount by which the market price of the Company's Class A common stock at the end of the period exceeds the exercise price of the stock option, multiplied by the number of options. (b)There were no nonvested stock options as of April 2, 2022. Accordingly, there was no related unrecognized compensation expense as of April 2, 2022.
Restricted stock and service-based restricted stock units [Member] |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] |
Summary of restricted stock and restricted stock unit activity | A summary of service-based RSU activity during Fiscal 2022 is as follows:
|  | Service- based RSUs
|  | Number of Shares |  | Weighted-Average Grant Date Fair Value
|  | (thousands) |  |
Nonvested at March 27, 2021 |  | 1,809 |  |  | $ | 77.20 |
Granted |  | 555 |  |  | 117.33 |
Vested |  | (617) |  |  | 86.76 |
Forfeited |  | (181) |  |  | 82.32 |
Nonvested at April 2, 2022 |  | 1,566 |  |  | $ | 87.07 |
Additional information pertaining to the restricted stock and restricted stock unit activity |
|  | Service- based RSUs
Total unrecognized compensation expense at April 2, 2022 (millions) |  | $ | 47.9 |
Weighted-average period expected to be recognized over (years) |  | 1.3
Additional information pertaining to service-based RSU activity is as follows:
|  | Fiscal Years Ended
|  | April 2, 2022 |  | March 27, 2021 |  | March 28, 2020
Service-based RSUs: |  |  |  |  |  |
Weighted-average grant date fair value of awards granted |  | $ | 117.33 |  |  | $ | 64.55 |  |  | $ | 102.27 |
Total fair value of awards vested (millions) |  | $ | 79.5 |  |  | $ | 33.4 |  |  | $ | 52.5 |
Market-based restricted stock units [Member] |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] |
Schedule of Share Based Payment Award with Market Condition Valuation Assumptions [Table Text Block] | The assumptions used to estimate the fair value of TSR awards granted were as follows:
|  | Fiscal Years Ended
|  | April 2, 2022 |  | March 27, 2021 |  | March 28, 2020
Expected volatility |  | 46.8 | % |  | N/A |  | 31.4 | %
Expected dividend yield |  | 2.2 | % |  | N/A |  | 3.2 | %
Risk-free interest rate |  | 0.4 | % |  | N/A |  | 1.4 | %
Weighted-average grant date fair value |  | $ | 146.46 |  | N/A |  | $ | 90.59
Performance-based restricted stock units [Member] |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] |
Summary of restricted stock and restricted stock unit activity | A summary of performance-based RSU activity including TSR awards during Fiscal 2022 is as follows:
|  | Performance-based RSUs
|  | Number of Shares |  | Weighted-Average Grant Date Fair Value
|  | (thousands) |  |
Nonvested at March 27, 2021 |  | 600 |  |  | $ | 105.85 |
Granted |  | 239 |  |  | 129.56 |
Change due to performance and/or market condition achievement |  | 9 |  |  | 169.86 |
Vested |  | (229) |  |  | 140.16 |
Forfeited |  | (77) |  |  | 98.12 |
Nonvested at April 2, 2022 |  | 542 |  |  | $ | 104.29 |
Additional information pertaining to the restricted stock and restricted stock unit activity |
|  | Performance-based RSUs
Total unrecognized compensation expense at April 2, 2022 (millions) |  | $ | 28.6 |
Weighted-average period expected to be recognized over (years) |  | 1.9
Additional information pertaining to performance-based RSU activity including TSR awards is as follows:
|  | Fiscal Years Ended
|  | April 2, 2022 |  | March 27, 2021 |  | March 28, 2020
Performance-based RSUs: |  |  |  |  |  |
Weighted-average grant date fair value of awards granted |  | $ | 129.56 |  |  | N/A |  | $ | 85.80 |
Total fair value of awards vested (millions) |  | $ | 27.6 |  |  | $ | 55.0 |  |  | $ | 52.8 |

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- Definition Tabular disclosure for stock option plans. Includes, but is not limited to, outstanding awards at beginning and end of year, grants, exercises, forfeitures, and weighted-average grant date fair value. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (e) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(1) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 + Details
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