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Stock-based Compensation (Tables)

9 Months Ended

Dec. 30, 2023

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 30, 2023 and December 31, 2022 is as follows:

						Three Months Ended												Nine Months Ended
						December 30, 2023						December 31, 2022						December 30, 2023						December 31, 2022
						(millions)
Compensation expense						$	24.6					$	19.2					$	75.3					$	59.9
Income tax benefit						(3.5)						(3.3)						(11.5)						(9.9)

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 [Table]

The assumptions used to estimate the fair value of TSR awards granted during the nine-month periods ended December 30, 2023 and December 31, 2022 were as follows:

						Nine Months Ended
						December 30, 2023						December 31, 2022
Expected volatility						38.4		%				49.9		%
Expected dividend yield						2.5		%				3.0		%
Risk-free interest rate						4.6		%				3.1		%

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 30, 2023 is as follows:

						Number of Service-based RSUs
						(thousands)
Unvested at April 1, 2023						1,585
Granted						543
Vested						(991)
Forfeited						(46)
Unvested at December 30, 2023						1,091

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 30, 2023 is as follows:

						Number of Performance-based RSUs
						(thousands)
Unvested at April 1, 2023						469
Granted						217
Change due to performance and/or market condition achievement						—
Vested						—
Forfeited						(1)
Unvested at December 30, 2023						685

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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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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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