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Stock-Based Compensation (Tables) | 12 Months Ended
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Mar. 30, 2024
Share-Based Payment Arrangement [Abstract] |
Stock Options Activity | Stock Options. The following table summarizes stock option activity for fiscal years 2024, 2023 and 2022:
| Number of Shares |  | Weighted Average Exercise Price per share |  | Weighted Average Remaining Contractual Term (years) |  | Aggregate Intrinsic Value (in thousands)
Outstanding at April 3, 2021 | 251,749 |  |  | $ | 146.86 |  |  | 4.04 |  | $ | 34,266 |
Exercised | (53,550) |  |  | 107.58 |  |  |  |  |
Forfeited, canceled or expired | (5,286) |  |  | 164.49 |  |  |  |  |
Outstanding at April 2, 2022 | 192,913 |  |  | $ | 157.23 |  |  | 3.34 |  | $ | 16,724 |
Exercised | (44,237) |  |  | 137.28 |  |  |  |  |
Forfeited, canceled or expired | (5,100) |  |  | 241.23 |  |  |  |  |
Outstanding at April 1, 2023 | 143,576 |  |  | $ | 160.40 |  |  | 2.88 |  | $ | 22,591 |
Exercised | (48,637) |  |  | 145.38 |  |  |  |  |
Forfeited, canceled or expired | (538) |  |  | 183.83 |  |  |  |  |
Outstanding at March 30, 2024 | 94,401 |  |  | $ | 168.00 |  |  | 2.21 |  | $ | 21,812 |
Exercisable at April 2, 2022 | 126,948 |  |  | $ | 149.90 |  |  | 2.82 |  | $ | 11,941 |
Exercisable at April 1, 2023 | 116,434 |  |  | $ | 155.38 |  |  | 2.70 |  | $ | 18,887 |
Exercisable at March 30, 2024 | 89,474 |  |  | $ | 167.13 |  |  | 2.15 |  | $ | 20,752 |
Restricted Stock Unit Activity | Restricted Stock Awards. A summary of RSU activity for fiscal years 2024, 2023 and 2022 is as follows:
| Number of Service-based units |  | Weighted Average Grant Date Fair Value per share
Outstanding at April 3, 2021 | 4,585 |  |  | $ | 177.08 |
Awarded | 16,902 |  |  | 233.60 |
Released | (3,335) |  |  | 180.83 |
Forfeited | (505) |  |  | 215.90 |
Outstanding at April 2, 2022 | 17,647 |  |  | $ | 229.39 |
Awarded | 18,965 |  |  | 227.99 |
Released | (6,714) |  |  | 234.55 |
Forfeited | (1,030) |  |  | 283.27 |
Outstanding at April 1, 2023 | 28,868 |  |  | $ | 225.35 |
Awarded | 17,511 |  |  | 294.06 |
Released | (12,541) |  |  | 231.70 |
Forfeited | (1,254) |  |  | 250.71 |
Outstanding at March 30, 2024 | 32,584 |  |  | $ | 258.85 |
The total intrinsic value of RSUs released during fiscal years 2024, 2023 and 2022 was $3.6 million, $1.6 million and $0.8 million, respectively.
| Number of Performance-based units |  | Weighted Average Grant Date Fair Value per share
Outstanding at April 3, 2021 | 12,939 |  |  | $ | 163.51 |
Awarded | 7,920 |  |  | 217.39 |
Forfeited | (805) |  |  | 192.64 |
Outstanding at April 2, 2022 | 20,054 |  |  | $ | 183.62 |
Awarded | 11,730 |  |  | 209.87 |
Additional shares granted by performance | 2,489 |  |  | 158.36 |
Released | (8,822) |  |  | 158.36 |
Outstanding at April 1, 2023 | 25,451 |  |  | $ | 202.00 |
Awarded | 12,125 |  |  | 295.01 |
Additional shares granted by performance | 1,658 |  |  | 167.84 |
Released | (6,988) |  |  | 167.95 |
Forfeited | (2,128) |  |  | 220.67 |
Outstanding at March 30, 2024 | 30,118 |  |  | $ | 244.15 |
Unvested target performance-based RSUs that may vest based upon performance conditions through fiscal year 2024 | 7,504 |  |  |
Unvested target performance-based RSUs that may vest based upon performance conditions through fiscal year 2025 | 11,187 |  |  |
Unvested target performance-based RSUs that may vest based upon performance conditions through fiscal year 2026 | 11,427 |  |  |

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