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Share-Based Compensation (Tables)

12 Months Ended

Apr. 01, 2017

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Option Activity and Information about Options Outstanding

The following table summarizes the share options activity during Fiscal 2017, and information about options outstanding at April 1, 2017:

	Number of Options			Weighted Average Exercise price				Weighted Average Remaining Contractual Life (years)		Aggregate Intrinsic Value (in millions)
Outstanding at April 2, 2016	5,820,413			$	28.41
Granted	177,666			$	49.88
Exercised	(794,482	)		$	10.49
Canceled/forfeited	(412,552	)		$	70.62
Outstanding at April 1, 2017	4,791,045			$	28.55			3.29		$	88.6
Vested or expected to vest at April 1, 2017	4,774,511			$	28.55			3.29
Vested and exercisable at April 1, 2017	3,909,592			$	21.60			2.95		$	86.8

Assumptions Used to Estimate Fair Value of Options

The following table represents assumptions used to estimate the fair value of options:

	Fiscal Years Ended
	April 1, 2017			April 2, 2016			March 28, 2015
Expected dividend yield	0.0	%		0.0	%		0.0	%
Volatility factor	30.1	%		31.1	%		33.2	%
Weighted average risk-free interest rate	1.1	%		1.6	%		1.5	%
Expected life of option	4.75 years			4.75 years			4.75 years

Restricted Shares and Restricted Share Units

The following table summarizes restricted share activity during Fiscal 2017:

	Restricted Shares
	Number of Unvested Restricted Shares			Weighted Average Grant Date Fair Value
Unvested at April 2, 2016	390,229			$	82.38
Granted	—			$	—
Vested	(139,759	)		$	79.46
Canceled/forfeited	(65,045	)		$	83.71
Unvested at April 1, 2017	185,425			$	84.12

The following table summarizes the RSU activity during Fiscal 2017:

	Service-based							Performance-based
	Number of Restricted Share Units			Weighted Average Grant Date Fair Value				Number of Restricted Share Units			Weighted Average Grant Date Fair Value
Unvested at April 2, 2016	1,071,058			$	47.13			579,774			$	61.84
Granted	907,149			$	49.27			98,237			$	49.88
Increase due to performance condition	—			$	—			80,093			$	62.24
Vested	(278,643	)		$	47.62			(240,278	)		$	62.24
Canceled/forfeited	(228,797	)		$	46.92			(116,049	)		$	62.73
Unvested at April 1, 2017	1,470,767			$	48.39			401,777			$	58.50

Schedule of Employee Service Share-based Compensation, Allocation of Recognized Period Costs

The following table summarizes compensation expense attributable to share-based compensation for Fiscal 2017, Fiscal 2016 and Fiscal 2015 (in millions):

	Fiscal Years Ended
	April 1, 2017				April 2, 2016				March 28, 2015
Share-based compensation expense	$	33.9			$	48.4			$	48.9
Tax benefits related to share-based compensation expense	$	11.2			$	15.7			$	17.5

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Tabular disclosure of the allocation of equity-based compensation costs to a given line item on the balance sheet and income statement for the period. This may include the reporting line for the costs and the amount capitalized and expensed.

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-Publisher FASB
-Name Accounting Standards Codification
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Tabular disclosure of the number and weighted-average exercise prices (or conversion ratios) for share options (or share units) that were outstanding at the beginning and end of the year, vested and expected to vest, exercisable or convertible at the end of the year, and the number of share options or share units that were granted, exercised or converted, forfeited, and expired during the year.

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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.

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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.

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