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STOCK-BASED COMPENSATION (Tables) | 12 Months Ended
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Mar. 30, 2024
Share-Based Payment Arrangement [Abstract] |
Schedule of Total Stock-Based Compensation Cost and Associated Income Tax Benefits | Total stock-based compensation cost and the associated income tax benefits recognized in the Consolidated Statements of Operations are as follows:
|  | Year Ended March
(In thousands) |  | 2024 |  |  | 2023 |  | 2022
Stock-based compensation cost |  | $ | 67,332 |  |  |  | $ | 60,354 |  |  | $ | 91,358 |
Income tax benefits |  | 15,018 |  |  |  | 13,714 |  |  | 21,917 |
Schedule of Assumption Used and Resulting Weighted Average Fair Value of Stock Option Granted | The grant date fair value of each option award was calculated using a lattice option-pricing valuation model, which incorporated a range of assumptions for inputs as follows:
|  | Year Ended March
|  | 2024 |  |  | 2023 |  | 2022
Expected volatility |  | 33% to 54% |  |  | 30% to 46% |  | 28% to 41%
Weighted average expected volatility |  | 42% |  |  | 39% |  | 36%
Expected term (in years) |  | 5.9 to 7.8 |  |  | 6.0 to 7.8 |  | 6.1 to 7.9
Weighted average dividend yield |  | 3.7% |  |  | 2.9% |  | 2.6%
Risk-free interest rate |  | 3.80% to 5.50% |  |  | 1.53% to 4.89% |  | 0.04% to 1.81%
Weighted average fair value at date of grant |  | $5.74 |  |  | $13.46 |  | $20.17
Schedule of Stock Option Activity | Stock option activity for the year ended March 2024 is summarized as follows:
| Number of Shares |  | Weighted Average Exercise Price |  | Weighted Average Remaining Contractual Term (Years) |  | Aggregate Intrinsic Value (In thousands)
Outstanding, March 2023 | 9,051,328 |  |  | $ | 62.42 |  |  |  |  |
Granted | 5,869,857 |  |  | 18.10 |  |  |  |  |
Exercised | — |  |  | — |  |  |  |  |
Forfeited/cancelled | (1,886,645) |  |  | 44.58 |  |  |  |  |
Outstanding, March 2024 | 13,034,540 |  |  | $ | 45.04 |  |  | 6.9 |  | $ | 223 |
Exercisable, March 2024 | 6,517,404 |  |  | $ | 64.57 |  |  | 4.8 |  | $ | — |
Schedule of RSU Activity | RSU activity for the year ended March 2024 is summarized as follows:
| Performance-based |  | Nonperformance-based
| Number Outstanding (a) |  | Weighted Average Grant Date Fair Value |  | Number Outstanding |  | Weighted Average Grant Date Fair Value
Outstanding, March 2023 | 863,928 |  |  | $ | 69.92 |  |  | 1,578,040 |  |  | $ | 50.85 |
Granted | 709,338 |  |  | 18.29 |  |  | 3,586,940 |  |  | 17.09 |
Issued as Common Stock | (13,033) |  |  | 70.86 |  |  | (363,353) |  |  | 59.41 |
Forfeited/cancelled (b) | (427,911) |  |  | 63.12 |  |  | (496,331) |  |  | 26.95 |
Outstanding, March 2024 | 1,132,322 |  |  | $ | 40.14 |  |  | 4,305,296 |  |  | $ | 24.68 |
Vested, March 2024 | 515,967 |  |  | $ | 58.63 |  |  | 338,605 |  |  | $ | 25.44 |
(a)Reflects activity at target level of awards and has not been adjusted for performance and market conditions, except for awards issued during the period. (b)Includes adjustment for performance and market conditions for awards issued during the period.
Schedule of Restricted Stock Activity | Restricted stock activity for the year ended March 2024 is summarized below:
| Nonvested Shares Outstanding |  | Weighted Average Grant Date Fair Value
Nonvested shares, March 2023 | 598,135 |  |  | $ | 67.17 |
Granted | — |  |  | — |
Dividend equivalents | 8,696 |  |  | 18.41 |
Vested | (248,590) |  |  | 78.06 |
Forfeited | (95,158) |  |  | 37.78 |
Nonvested shares, March 2024 | 263,083 |  |  | $ | 65.90 |

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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 -Topic 718 -SubTopic 10 -Subparagraph (f)(2) -Name Accounting Standards Codification -Paragraph 2 -Section 50 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 + Details
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