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STOCK-BASED COMPENSATION (Tables) | 12 Months Ended
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Mar. 28, 2020
Share-based Payment Arrangement [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, on a continuing operations basis, are as follows:
|  | Year Ended March |  | Three Months Ended March (Transition Period) |  | Year Ended December
(In thousands) |  | 2020 |  |  | 2019 |  | 2018 |  | 2017
Stock-based compensation cost |  | $ | 68,205 |  |  |  | $ | 84,285 |  |  | $ | 19,822 |  |  | $ | 63,888 |
Income tax benefits |  | 15,460 |  |  |  | 18,570 |  |  | 4,415 |  |  | 20,124 |
Stock-based compensation costs included in inventory at period end |  | 1,903 |  |  |  | 2,555 |  |  | 1,861 |  |  | 1,347 |
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
|  | 2020 |  |  | 2019 |  | 2018 |  | 2017
Expected volatility |  | 24% to 27% |  |  | 22% to 29% |  | 24% to 29% |  | 23% to 30%
Weighted average expected volatility |  | 25% |  |  | 25% |  | 25% |  | 24%
Expected term (in years) |  | 6.1 to 7.6 |  |  | 6.1 to 7.5 |  | 6.1 to 7.6 |  | 6.3 to 7.7
Weighted average dividend yield |  | 2.5% |  |  | 2.6% |  | 2.9% |  | 2.8%
Risk-free interest rate |  | 1.4% to 2.4% |  |  | 2.1% to 3.2% |  | 1.9% to 2.9% |  | 0.7% to 2.4%
Weighted average fair value at date of grant |  | $17.19 |  |  | $16.82 |  | $15.34 |  | $9.90
Stock Option Activity | Stock option activity for the year ended March 2020 is summarized as follows:
| Number of Shares |  | Weighted Average Exercise Price |  | Weighted Average Remaining Contractual Term (Years) |  | Aggregate Intrinsic Value (In thousands)
Outstanding, March 2019 | 9,910,210 |  |  | $ | 60.11 |  |  |  |  |
Spin related adjustment | 674,789 |  |  | — |  |  |  |  |
Transfer to Kontoor Brands | (756,709 | ) |  | 62.51 |  |  |  |  |
Granted | 1,512,955 |  |  | 84.27 |  |  |  |  |
Exercised | (3,290,971 | ) |  | 53.53 |  |  |  |  |
Forfeited/cancelled | (129,272 | ) |  | 70.78 |  |  |  |  |
Outstanding, March 2020 | 7,921,002 |  |  | $ | 61.93 |  |  | 6.6 |  | $ | 33,720 |
Exercisable, March 2020 | 5,897,457 |  |  | $ | 55.66 |  |  | 5.9 |  | $ | 33,681 |
RSU Activity | RSU activity for the year ended March 2020 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, March 2019 | 1,396,676 |  |  | $ | 61.68 |  |  | 664,833 |  |  | $ | 69.88 |
Spin related adjustment | 63,336 |  |  | — |  |  | 44,933 |  |  | — |
Transfer to Kontoor Brands | (52,018 | ) |  | 67.59 |  |  | (79,187 | ) |  | 71.19 |
Granted | 275,092 |  |  | 84.28 |  |  | 196,621 |  |  | 84.22 |
Issued as Common Stock | (519,162 | ) |  | 61.30 |  |  | (235,604 | ) |  | 66.44 |
Forfeited/cancelled | (23,673 | ) |  | 66.26 |  |  | (55,618 | ) |  | 70.90 |
Outstanding, March 2020 | 1,140,251 |  |  | $ | 63.51 |  |  | 535,978 |  |  | $ | 70.50 |
Vested, March 2020 | 865,577 |  |  | $ | 59.24 |  |  | 42,343 |  |  | $ | 73.23 |
Restricted Stock Activity | Restricted stock activity for the year ended March 2020 is summarized below:
| Nonvested Shares Outstanding |  | Weighted Average Grant Date Fair Value
Nonvested shares, March 2019 | 626,725 |  |  | $ | 59.86 |
Spin related adjustment | 39,434 |  |  | — |
Transfer to Kontoor Brands | (112,763 | ) |  | 60.91 |
Granted | 78,884 |  |  | 85.36 |
Dividend equivalents | 13,580 |  |  | 78.24 |
Vested | (62,982 | ) |  | 61.47 |
Forfeited | (40,046 | ) |  | 59.47 |
Nonvested shares, March 2020 | 542,832 |  |  | $ | 59.30 |

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- Definition 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. + 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 (h)(1) -URI http://asc.fasb.org/extlink&oid=116856206&loc=d3e5070-113901 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SAB Topic 14.F) -URI http://asc.fasb.org/extlink&oid=115993241&loc=d3e301413-122809 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=116856206&loc=d3e5047-113901 + Details
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- Definition Tabular disclosure of the number and weighted-average grant date fair value for restricted stock units that were outstanding at the beginning and end of the year, and the number of restricted stock units that were granted, vested, or forfeited during the year. + 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 (c)(1) -URI http://asc.fasb.org/extlink&oid=116856206&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=116856206&loc=d3e5070-113901 + Details
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