XML 66 R38.htm IDEA: XBRL DOCUMENT
v3.21.1

Equity-Based Compensation (Tables) | 12 Months Ended
--- | ---
Apr. 03, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] |
Summary of Activity Associated with Awards | A summary of the activity associated with these awards is as follows:
(amounts in thousands) |  |  |  | Management Incentive Plan Award Units |  |  | Time Based Restricted Share Awards |  |  | Performance Based Restricted Share Awards |
Outstanding at March 31, 2018 |  |  |  |  | 12,655 |  |  |  | — |  |  |  | — |
Granted |  |  |  |  | 1,000 |  |  |  | — |  |  |  | — |
Exchange of MIP awards for restricted share awards |  |  |  |  | (13,655 | ) |  |  | 290 |  |  |  | 3,686 |
Vested |  |  |  |  | — |  |  |  | — |  |  |  | (3,686 | )
Outstanding at March 30, 2019 |  |  |  |  | — |  |  |  | 290 |  |  |  | — |
Vested |  |  |  |  | — |  |  |  | (145 | ) |  |  | — |
Outstanding at March 28, 2020 |  |  |  |  | — |  |  |  | 145 |  |  |  | — |
Vested |  |  |  |  | — |  |  |  | (145 | ) |  |  | — |
Outstanding at April 3, 2021 |  |  |  |  | — |  |  |  | — |  |  |  | — |
Summary of Stock Options Activity | A summary of the activity associated with these awards is as follows:
|  | Shares (in thousands) |  |  | Weighted Average Exercise Price Per Share |  |  | Weighted Average Remaining Term (in years) |  |  | Aggregate Intrinsic Value (in thousands) |
Outstanding at March 31, 2018 |  |  | — |  |  |  |  |  |  |  |  |  |  |  |  |
Granted |  |  | 146 |  |  | $ | 15.00 |  |  |  |  |  |  |  |  |
Outstanding at March 30, 2019 |  |  | 146 |  |  | $ | 15.00 |  |  |  |  |  |  |  |  |
Granted |  |  | 266 |  |  | $ | 32.11 |  |  |  |  |  |  |  |  |
Exercised |  |  | (8 | ) |  | $ | 15.00 |  |  |  |  |  |  |  |  |
Forfeitures |  |  | (1 | ) |  | $ | 15.00 |  |  |  |  |  |  |  |  |
Outstanding at March 28, 2020 |  |  | 403 |  |  | $ | 26.29 |  |  |  |  |  |  |  |  |
Granted |  |  | 138 |  |  | $ | 31.21 |  |  |  |  |  |  |  |  |
Exercised |  |  | (5 | ) |  | $ | 32.04 |  |  |  |  |  |  |  |  |
Outstanding at April 3, 2021 |  |  | 536 |  |  | $ | 27.50 |  |  |  | 8.7 |  |  | $ | 10,680 |
Vested and expected to vest at April 3, 2021 |  |  | 536 |  |  | $ | 27.50 |  |  |  | 8.7 |  |  | $ | 10,680 |
Exercisable at April 3, 2021 |  |  | 199 |  |  | $ | 22.64 |  |  |  | 8.2 |  |  | $ | 4,921 |
Summary of Performance Share Units Activity | A summary of the activity associated with these awards is as follows:
|  | Shares (in thousands) |  |  | Weighted Average Grant Date Fair Value Per Unit |
Outstanding at March 31, 2018 |  |  | — |  |  |  |  |
Granted |  |  | 146 |  |  | $ | 3.62 |
Outstanding at March 30, 2019 |  |  | 146 |  |  | $ | 3.62 |
Granted |  |  | 86 |  |  | $ | 29.05 |
Forfeitures |  |  | (2 | ) |  | $ | 3.62 |
Outstanding at March 28, 2020 |  |  | 230 |  |  | $ | 13.85 |
Granted |  |  | 61 |  |  | $ | 28.38 |
Outstanding at April 3, 2021 |  |  | 291 |  |  | $ | 16.90 |
Summary of Restricted Share Units and Restricted Share Awards Activity |
(units and shares in thousands) |  | Restricted Stock Units |  |  | Restricted Share Awards |
Outstanding at March 31, 2018 |  |  | — |  |  |  | — |
Granted |  |  | 158 |  |  |  | 349 |
Vested |  |  | — |  |  |  | (349 | )
Outstanding at March 30, 2019 |  |  | 158 |  |  |  | — |
Granted |  |  | 112 |  |  |  | — |
Vested |  |  | (75 | ) |  |  | — |
Forfeitures |  |  | (1 | ) |  |  |  |
Outstanding at March 28, 2020 |  |  | 194 |  |  |  | — |
Granted |  |  | 87 |  |  |  | — |
Vested |  |  | (98 | ) |  |  | — |
Outstanding at April 3, 2021 |  |  | 183 |  |  |  | — |
Stock Options [Member] |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] |
Summary of Assumptions Used in Black-Scholes Option-Pricing and Monte-Carlo Simulation Model with Weighted-Average Grant Date Fair Value | The assumptions used in the Black-Scholes option-pricing model along with the weighted average grant date fair value for awards granted in the periods presented are as follows:
Option Award Assumptions |  | Fiscal 2021 |  |  | Fiscal 2020 |  |  | Fiscal 2019 |
Weighted-average assumptions used: |  |  |  |  |  |  |  |  |  |  |  |
Expected volatility |  |  | 45.0 | % |  |  | 30.0 | % |  |  | 25.8 | %
Dividend yield |  |  | — |  |  |  | — |  |  |  | — |
Risk-free interest rate |  |  | 0.5 | % |  |  | 1.7 | % |  |  | 2.4 | %
Expected term, in years |  |  | 6.00 |  |  |  | 5.88 |  |  |  | 5.75 |
Weighted average grant date fair value per share |  | $ | 12.48 |  |  | $ | 10.33 |  |  | $ | 3.93 |
Performance Share Units [Member] |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] |
Summary of Assumptions Used in Black-Scholes Option-Pricing and Monte-Carlo Simulation Model with Weighted-Average Grant Date Fair Value | The assumptions used in the Monte-Carlo simulation for performance share units along with the weighted-average grant date fair value for awards granted in the periods presented are as follows:
Performance Unit Assumptions |  | Fiscal 2021 |  |  | Fiscal 2020 |  |  | Fiscal 2019 |
Weighted-average assumptions used: |  |  |  |  |  |  |  |  |  |  |  |
Expected volatility |  |  | 50.0 | % |  |  | 30.0 | % |  |  | 29.5 | %
Dividend yield |  |  | — |  |  |  | — |  |  |  | — |
Risk-free interest rate |  |  | 0.2 | % |  |  | 1.6 | % |  |  | 2.4 | %
Expected term, in years |  |  | 3.00 |  |  |  | 2.84 |  |  |  | 2.49 |
Weighted average grant date fair value per share |  | $ | 28.38 |  |  | $ | 29.05 |  |  | $ | 3.62 |

X
- Definition Tabular disclosure of activity for award under share-based payment arrangement. Includes, but is not limited to, outstanding award at beginning and end of year, granted, exercised, forfeited, and weighted-average grant date fair value. + 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 (e) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(2) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 + Details
Name: | us-gaap_ScheduleOfShareBasedCompensationActivityTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure for stock option plans. Includes, but is not limited to, outstanding awards at beginning and end of year, grants, exercises, forfeitures, and weighted-average grant date fair value. + 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 (d) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (e) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 Reference 3: 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=120381028&loc=d3e5070-113901 + Details
Name: | us-gaap_ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- 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=120381028&loc=d3e5070-113901 + Details
Name: | us-gaap_ScheduleOfShareBasedPaymentAwardStockOptionsValuationAssumptionsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Disclosure of the number and weighted-average grant date fair value for restricted stock and restricted stock units that were outstanding at the beginning and end of the year, and the number of restricted stock and restricted stock units that were granted, vested, or forfeited during the year. + References No definition available. + Details
Name: | us-gaap_ScheduleOfSharebasedCompensationRestrictedStockAndRestrictedStockUnitsActivityTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. + References No definition available. + Details
Name: | us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of number and weighted-average grant date fair value for nonvested performance shares. + 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) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 + Details
Name: | us-gaap_ShareBasedCompensationPerformanceSharesAwardUnvestedActivityTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Details
Name: | us-gaap_AwardTypeAxis=us-gaap_EmployeeStockOptionMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_AwardTypeAxis=us-gaap_PerformanceSharesMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |