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Stock-Based Compensation | 6 Months Ended
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Sep. 29, 2023
Share-Based Payment Arrangement [Abstract] |
Stock-Based Compensation | Stock-Based Compensation Avast equity awards In connection with our acquisition of Avast, we assumed the outstanding equity awards under two of Avast’s equity incentive plans (the Avast Holding B.V. 2014 Share Option Plan and the Rules of the Avast plc Long Term Incentive Plan (collectively, the Avast Plans)), which consisted of 4 million shares of unvested RSUs. The assumed RSUs generally retain the terms and conditions under which they were originally granted. We intend to grant all additional shares that remain available for issuance under the Avast Plans. Upon vesting, these assumed RSUs and any additional shares granted will settle into shares of our common stock. See Note 4 for further information about this business combination. The following table sets forth the stock-based compensation expense recognized for our equity incentive plans:
| Three Months Ended |  | Six Months Ended
(In millions) | September 29, 2023 |  | September 30, 2022 |  | September 29, 2023 |  | September 30, 2022
Cost of revenues | $ | 1 |  |  | $ | 1 |  |  | $ | 2 |  |  | $ | 2 |
Sales and marketing | 10 |  |  | 8 |  |  | 19 |  |  | 15 |
Research and development | 10 |  |  | 6 |  |  | 21 |  |  | 12 |
General and administrative | 13 |  |  | 14 |  |  | 29 |  |  | 24 |
Restructuring and other costs | 1 |  |  | — |  |  | 1 |  |  | — |
Total stock-based compensation expense | $ | 35 |  |  | $ | 29 |  |  | $ | 72 |  |  | $ | 53 |
Income tax benefit for stock-based compensation expense | $ | (4) |  |  | $ | (4) |  |  | $ | (9) |  |  | $ | (8) |
As of September 29, 2023, the total unrecognized stock-based compensation expense related to our unvested stock-based awards was $265 million, which will be recognized over an estimated weighted-average amortization period of 2.1 years. The following table summarizes additional information related to our stock-based awards:
| Six Months Ended |
(In millions, except per grant data) | September 29, 2023 |  | September 30, 2022 |
Restricted stock units (RSUs): |  |  |  |
Weighted-average fair value per award granted | $ | 17.33 |  |  | $ | 23.34 |  |
Awards granted | 5 |  |  | 6 |  |
Total fair value of awards released | $ | 55 |  |  | $ | 50 |  |
Outstanding and unvested | 10 |  |  | 10 |  |
Performance-based restricted stock units (PRUs): |  |  |  |
Weighted-average fair value per award granted | $ | 22.79 |  |  | $ | 30.47 |  |
Awards granted | 2 |  |  | 1 |  |
Total fair value of awards released | $ | 19 |  |  | $ | 4 |  |
Outstanding and unvested at target payout | 5 |  |  | 4 |  |
Dividend equivalent rights (DERs) Our RSUs and PRUs, except the 4 million unvested RSUs assumed under the Avast Plans, contain DERs that entitles the recipient of an award to receive cash dividend payments if and when the underlying shares are released. The amount of DERs equals the amount of cumulated dividends on the issued number of common stock that would have been payable since the date the associated award was granted. As of September 29, 2023 and March 31, 2023, current dividends payable related to DER was $4 million and $5 million, respectively, recorded as part of Other current liabilities in the Condensed Consolidated Balance Sheets, and long-term dividends payable related to DER was $2 million, recorded as part of Other long-term liabilities.

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