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STOCK-BASED COMPENSATION (Tables) | 12 Months Ended
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Mar. 30, 2019
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] |
Total Stock-Based Compensation Cost and Associated Income Tax Benefits Related to Stock-Based Compensation Arrangements Recognized and Stock-Based Compensation Costs Included in Inventory | Total stock-based compensation cost and the associated income tax benefits recognized in the Consolidated Statements of Income, and stock-based compensation costs included in inventory in the Consolidated Balance Sheets, are as follows:
|  | Year Ended March |  |  | Three Months Ended March (Transition Period) |  | Year Ended December
(In thousands) |  | 2019 |  |  | 2018 |  | 2017 |  | 2016
Stock-based compensation cost |  | $ | 105,157 |  |  |  | $ | 25,440 |  |  | $ | 81,641 |  |  | $ | 67,762 |
Income tax benefits |  | 23,650 |  |  |  | 5,771 |  |  | 26,697 |  |  | 22,870 |
Stock-based compensation costs included in inventory at period end |  | 3,165 |  |  |  | 2,236 |  |  | 1,938 |  |  | 1,332 |
Schedule of Assumption Used and Resulting Weighted Average Fair Value of Stock Option Granted | The grant date fair value of each option award is calculated using a lattice option-pricing valuation model, which incorporates a range of assumptions for inputs as follows:
|  | Year Ended March |  |  | Three Months Ended March (Transition Period) |  | Year Ended December
|  | 2019 |  |  | 2018 |  | 2017 |  | 2016
Expected volatility |  | 22% to 29% |  |  | 24% to 29% |  | 23% to 30% |  | 21% to 29%
Weighted average expected volatility |  | 25% |  |  | 25% |  | 24% |  | 24%
Expected term (in years) |  | 6.1 to 7.5 |  |  | 6.1 to 7.6 |  | 6.3 to 7.7 |  | 6.3 to 7.6
Weighted average dividend yield |  | 2.6% |  |  | 2.9% |  | 2.8% |  | 2.2%
Risk-free interest rate |  | 2.1% to 3.2% |  |  | 1.9% to 2.9% |  | 0.7% to 2.4% |  | 0.4% to 1.7%
Weighted average fair value at date of grant |  | $16.82 |  |  | $15.34 |  | $9.90 |  | $12.08
Stock Option Activity | Stock option activity for the three-month period ended March 2018 and the year ended March 2019 is summarized as follows:
| Number of Shares |  | Weighted Average Exercise Price |  | Weighted Average Remaining Contractual Term (Years) |  | Aggregate Intrinsic Value (In thousands)
Outstanding, December 2017 | 14,250,084 |  |  | $ | 52.03 |  |  |  |  |
Granted | 1,843,749 |  |  | 74.80 |  |  |  |  |
Exercised | (1,484,537 | ) |  | 38.94 |  |  |  |  |
Forfeited/cancelled | (117,782 | ) |  | 66.36 |  |  |  |  |
Outstanding, March 2018 | 14,491,514 |  |  | 56.15 |  |  |  |  |
Granted | 101,197 |  |  | 81.01 |  |  |  |  |
Exercised | (4,316,539 | ) |  | 46.86 |  |  |  |  |
Forfeited/cancelled | (365,962 | ) |  | 65.27 |  |  |  |  |
Outstanding, March 2019 | 9,910,210 |  |  | $ | 60.11 |  |  | 6.7 |  | $ | 265,734 |
Exercisable, March 2019 | 7,781,198 |  |  | $ | 58.60 |  |  | 6.2 |  | $ | 220,251 |
RSU Activity | RSU activity for the three-month period ended March 2018 and the year ended March 2019 is summarized as follows:
| Performance-based |  | Nonperformance-based
| Number Outstanding |  | Weighted Average Grant Date Fair Value |  | Number Outstanding |  | Weighted Average Grant Date Fair Value
Outstanding, December 2017 | 1,504,551 |  |  | $ | 62.22 |  |  | 335,093 |  |  | $ | 60.72 |
Granted | 351,490 |  |  | 74.80 |  |  | 407,074 |  |  | 74.80 |
Issued as Common Stock | (405,871 | ) |  | 75.33 |  |  | (34,964 | ) |  | 56.11 |
Forfeited/cancelled | (12,154 | ) |  | 63.64 |  |  | (10,780 | ) |  | 72.45 |
Outstanding, March 2018 | 1,438,016 |  |  | 61.58 |  |  | 696,423 |  |  | 69.00 |
Granted | 19,099 |  |  | 80.39 |  |  | 82,799 |  |  | 79.21 |
Issued as Common Stock | — |  |  | — |  |  | (58,165 | ) |  | 69.08 |
Forfeited/cancelled | (60,439 | ) |  | 65.20 |  |  | (56,224 | ) |  | 73.54 |
Outstanding, March 2019 | 1,396,676 |  |  | $ | 61.68 |  |  | 664,833 |  |  | $ | 69.88 |
Vested, March 2019 | 859,332 |  |  | $ | 61.37 |  |  | 69,139 |  |  | $ | 74.80 |
Restricted Stock Activity | Restricted stock activity for the three-month period ended March 2018 and the year ended March 2019 is summarized below:
| Nonvested Shares Outstanding |  | Weighted Average Grant Date Fair Value
Nonvested shares, December 2017 | 684,963 |  |  | $ | 57.01 |
Granted | 56,331 |  |  | 74.70 |
Dividend equivalents | 4,188 |  |  | 74.40 |
Vested | (53,203 | ) |  | 57.90 |
Forfeited | (11,068 | ) |  | 68.25 |
Nonvested shares, March 2018 | 681,211 |  |  | 58.33 |
Granted | 79,188 |  |  | 79.99 |
Dividend equivalents | 15,468 |  |  | 82.02 |
Vested | (99,682 | ) |  | 67.41 |
Forfeited | (49,460 | ) |  | 62.76 |
Nonvested shares, March 2019 | 626,725 |  |  | $ | 59.86 |

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- Definition Tabular disclosure of components of a stock option or other award plan under which equity-based compensation is awarded to employees, typically comprised of the amount of unearned compensation (deferred compensation cost), compensation expense, and changes in the quantity and fair value of the shares (or other type of equity) granted, exercised, forfeited, and issued and outstanding pertaining to that plan. Disclosure may also include nature and general terms of such arrangements that existed during the period and potential effects of those arrangements on shareholders, effect of compensation cost arising from equity-based payment arrangements on the income statement, method of estimating the fair value of the goods or services received, or the fair value of the equity instruments granted, during the period, cash flow effects resulting from equity-based payment arrangements and, for registrants that accelerate vesting of out of the money share options, reasons for the decision to accelerate. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=109197908&loc=d3e5047-113901 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=109197908&loc=d3e5070-113901 + Details
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- Definition Tabular disclosure of the significant assumptions used during the year to estimate the fair value of stock options, including, but not limited to: (a) expected term of share options and similar instruments, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions. + 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 (f)(2) -URI http://asc.fasb.org/extlink&oid=109197908&loc=d3e5070-113901 + Details
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