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Stock-based Compensation (Tables)

3 Months Ended

Jul. 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 during the three-month periods ended July 2, 2022 and June 26, 2021 is as follows:

												Three Months Ended
																		July 2, 2022						June 26, 2021
																		(millions)
Compensation expense																		$	18.2					$	18.4		(a)
Income tax benefit																		(2.8)						(3.0)

(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.

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 three months ended July 2, 2022 is as follows:

						Number of Service-based RSUs
						(thousands)
Unvested at April 2, 2022						1,566
Granted						2
Vested						(251)
Forfeited						(13)
Unvested at July 2, 2022						1,304

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 three months ended July 2, 2022 is as follows:

						Number of Performance-based RSUs
						(thousands)
Unvested at April 2, 2022						542
Granted						—
Change due to performance and/or market condition achievement						(58)
Vested						(269)
Forfeited						—
Unvested at July 2, 2022						215

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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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-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (h)(1)
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-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SAB Topic 14.F)
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-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5047-113901

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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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