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Share Repurchase Program | 9 Months Ended
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Dec. 27, 2014
Share Repurchase Program | 2. Share Repurchase Program On November 14, 2014, the Company entered into a $355.0 million accelerated share repurchase program (the “ASR program”) with a major financial institution (the “ASR Counterparty”) to repurchase the Company’s ordinary shares. Under the ASR program, the Company paid $355.0 million to the ASR Counterparty and received 4,437,516 of its ordinary shares from the ASR Counterparty, which represents 100 percent of the shares expected to be purchased pursuant to the ASR program, based on an initial share price determination. However, additional shares may be delivered to the Company by January 29, 2015 (the settlement date), subject to the provisions of the ASR program, should the share price decline from that price, limited to a stated share price “floor”, and would not require any additional cash outlay by the Company. The total number of shares to be repurchased/acquired will be determined on final settlement, with any additional shares reacquired being based generally on the volume-weighted average price of the Company’s ordinary shares, less a discount, during the repurchase period, subject to aforementioned price floor. The ASR program is accounted for as treasury stock repurchase transactions, reducing the weighted average number of basic and diluted ordinary shares outstanding by the 4,437,516 shares initially repurchased, and as a forward contract indexed to the Company’s own ordinary shares for the future settlement provisions. The forward contract is accounted for as an equity instrument. In addition to shares purchased under the ASR, the Company, through open market transactions, purchased an additional 631,297 shares, under its’ current share-repurchase program.

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- Definition The entire disclosure for treasury stock, including, but not limited to, average cost per share, description of share repurchase program, shares repurchased, shares held for each class of treasury stock. + References No definition available. + Details
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