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Stock-based Compensation (Tables)

9 Months Ended

Dec. 25, 2021

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 during the three-month and nine-month periods ended December 25, 2021 and December 26, 2020 is as follows:

						Three Months Ended												Nine Months Ended
						December 25, 2021						December 26, 2020						December 25, 2021						December 26, 2020
						(millions)
Compensation expense(a)						$	22.0					$	19.8					$	62.6		(a)			$	54.4
Income tax benefit						(3.3)						(3.2)						(9.9)						(9.9)

(a)Includes $2.0 million of accelerated stock-based compensation expense recorded within restructuring and other charges, net in the consolidated statements of operations (see Note 8). 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 the nine months ended December 25, 2021 is as follows:

						Number of Options
						(thousands)
Options outstanding at March 27, 2021						255
Granted						—
Exercised						—
Cancelled/Forfeited						(255)
Options outstanding at December 25, 2021						—

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 during the nine months ended December 25, 2021 were as follows:

						Nine Months Ended
						December 25, 2021
Expected volatility						46.8		%
Expected dividend yield						2.2		%
Risk-free interest rate						0.4		%

Service Based Restricted Stock Units [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Summary of restricted stock unit activity

A summary of service-based RSU activity during the nine months ended December 25, 2021 is as follows:

						Number of Service-based RSUs
						(thousands)
Unvested at March 27, 2021						1,809
Granted						546
Vested						(596)
Forfeited						(83)
Unvested at December 25, 2021						1,676

Performance shares, including TSR awards

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Summary of restricted stock unit activity

A summary of performance-based RSU activity including TSR awards during the nine months ended December 25, 2021 is as follows:

						Number of Performance-based RSUs
						(thousands)
Unvested at March 27, 2021						600
Granted						239
Change due to performance and/or market condition achievement						9
Vested						(229)
Forfeited						(13)
Unvested at December 25, 2021						606

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Tabular disclosure of significant assumptions used to estimate the fair value of market-based restricted stock units

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Tabular disclosure of allocation of amount expensed and capitalized for award under share-based payment arrangement to statement of income or comprehensive income and statement of financial position. Includes, but is not limited to, corresponding line item in financial statement.

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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.

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Disclosure of the number and weighted-average grant date fair value for restricted stock and restricted stock units that were outstanding at the beginning and end of the year, and the number of restricted stock and restricted stock units that were granted, vested, or forfeited during the year.

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