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Share-Based Compensation | 6 Months Ended
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Sep. 27, 2025
Share-Based Payment Arrangement [Abstract] |
Share-Based Compensation | Share-Based Compensation The Company grants equity awards to certain employees and directors of the Company at the discretion of the Company’s Compensation and Talent Committee. On December 1, 2011, the Company adopted the Omnibus Incentive Plan (the “Incentive Plan”) which allows for grants of share options, restricted shares, RSUs and other forms of equity compensation. On August 7, 2025, the Company’s shareholders approved an amendment to the Incentive Plan to increase the number of ordinary shares authorized for issuance by 2,500,000 increasing the total authorized ordinary shares from 22,471,000 to 24,971,000. At September 27, 2025, there were 3,633,443 ordinary shares available for future grants of equity awards under the Incentive Plan. Option grants issued under the Incentive Plan generally expire seven years from the grant date. The following table summarizes the Company’s share-based compensation activity during the six months ended September 27, 2025:
| Options |  |  |  | Service-Based RSUs |  | Performance-Based RSUs
Outstanding/Unvested at March 29, 2025 | 180,481 |  |  |  |  | 2,992,161 |  |  | 162,954 |
Granted | — |  |  |  |  | 2,212,457 |  |  | — |
Exercised/Vested | — |  |  |  |  | (1,320,515) |  |  | — |
Canceled/Forfeited | (180,481) |  |  |  |  | (448,678) |  |  | — |
Outstanding/Unvested at September 27, 2025 | — |  |  |  |  | 3,435,425 |  |  | 162,954 |
The weighted average grant date fair value of service-based RSUs granted during the six months ended September 27, 2025 was $17.89. There were no performance-based RSUs granted during the six months ended September 27, 2025. The weighted average grant date fair value of service-based RSUs granted during the six months ended September 28, 2024 was $32.20. There were no performance-based RSUs granted during the six months ended September 28, 2024. Share-Based Compensation Expense The following table summarizes compensation expense attributable to share-based compensation for the three and six months ended September 27, 2025 and September 28, 2024 (in millions):
| Three Months Ended |  | Six Months Ended
| September 27, 2025 |  | September 28, 2024 |  | September 27, 2025 |  | September 28, 2024
Share-based compensation expense | $ | 7 |  |  | $ | 9 |  |  | $ | 21 |  |  | $ | 33 |
Tax benefit related to share-based compensation expense | $ | 1 |  |  | $ | 1 |  |  | $ | 1 |  |  | $ | 5 |
Forfeitures are estimated at the time of grant and revised, if necessary, in subsequent periods if actual forfeitures differ from those estimates. The Company estimates forfeitures based on historical forfeiture rates. The estimated value of future forfeitures for equity awards as of September 27, 2025 is $6 million. There were no forfeitures for performance-based RSUs. See Note 17 in the Company’s Fiscal 2025 Annual Report on Form 10-K for additional information relating to the Company’s share-based compensation awards.

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