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CAPITAL STOCK (Tables) | 12 Months Ended
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Apr. 02, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] |
Schedule of Stock-Based Compensation Cost | Compensation cost related to stock-based transactions is recognized in the consolidated financial statements based on fair value. The total amount of stock-based compensation expense, which is recorded on a straight line basis, was as follows:
(In thousands) | 2016 |  | 2015 |  | 2014
Selling, general and administrative expenses | $5,183 |  | $11,251 |  | $10,507
Research and development | 1,060 |  |  | 1,706 |  |  | 1,545 |
Cost of goods sold | 706 |  |  | 1,138 |  |  | 1,030 |
| $6,949 |  | $14,095 |  | $13,082
Schedule of Summary of Stock Option Activity | A summary of stock option activity for the fiscal year ended April 2, 2016 is as follows:
| Options Outstanding (shares) |  | Weighted Average Exercise Price per Share |  | Weighted Average Remaining Life (years) |  | Aggregate Intrinsic Value ($000’s)
Outstanding at March 28, 2015 | 3,761,666 |  |  | $ | 33.90 |  |  | 4.02 |  | $ | 37,067 |
Granted | 409,047 |  |  | 32.50 |  |  |  |  |  |
Exercised | (491,546 | ) |  | 28.55 |  |  |  |  |  |
Forfeited/Canceled | (727,984 | ) |  | 37.98 |  |  |  |  |  |
Outstanding at April 2, 2016 | 2,951,183 |  |  | $ | 33.59 |  |  | 3.34 |  | $ | 9,684 |
Exercisable at April 2, 2016 | 2,288,166 |  |  | $ | 33.22 |  |  | 2.59 |  | $ | 8,428 |
Vested or expected to vest at April 2, 2016 | 2,847,285 |  |  | $ | 33.56 |  |  | 3.21 |  | $ | 9,432 |
Schedule of Assumptions Utilized for Estimating Fair Value of Option Grants | The assumptions utilized for option grants during the periods presented are as follows:
| April 2, 2016 |  | March 28, 2015 |  | March 29, 2014
Volatility | 22.8 | % |  | 22.5 | % |  | 24.8 | %
Expected life (years) | 4.9 |  |  | 4.9 |  |  | 4.9 |
Risk-free interest rate | 1.4 | % |  | 1.5 | % |  | 1.3 | %
Dividend yield | 0.0 | % |  | 0.0 | % |  | 0.0 | %
Fair value per option | $ | 7.40 |  |  | $ | 7.91 |  |  | $ | 10.15 |
Schedule of Assumptions Used, Other than Options | The fair values of shares purchased under the Employee Stock Purchase Plan are estimated using the Black-Scholes single option-pricing model with the following weighted average assumptions:
| April 2, 2016 |  | March 28, 2015 |  | March 29, 2014
Volatility | 21.1 | % |  | 23.7 | % |  | 22.9 | %
Expected life (months) | 6 |  |  | 6 |  |  | 6 |
Risk-free interest rate | 0.2 | % |  | 0.1 | % |  | 0.1 | %
Dividend Yield | 0.0 | % |  | 0.0 | % |  | 0.0 | %
The weighted-average grant-date fair value of RSUs granted and total fair value of RSUs vested were as follows:
(In thousands, except per share data) | April 2, 2016 |  | March 28, 2015 |  | March 29, 2014
Grant-date fair value per RSU | $ | 33.19 |  |  | $ | 34.89 |  |  | $ | 42.24 |
Fair value of RSUs vested | $ | 36.07 |  |  | $ | 36.62 |  |  | $ | 32.70 |
The Company uses the Monte Carlo model to determine the fair value of each market stock unit. The assumptions used in the Monte Carlo model for MSUs granted during each year were as follows:
| April 2, 2016 |  | March 28, 2015 |  | March 29, 2014
Volatility | 24.0 | % |  | 21.2 | % |  | 20.2 | %
Expected life (years) | 1.7 |  |  | 2.8 |  |  | 3.7 |
Risk-free interest rate | 0.5 | % |  | 0.8 | % |  | 0.9 | %
Dividend yield | 0.0 | % |  | 0.0 | % |  | 0.0 | %
The assumptions used in the Monte Carlo model for PSUs granted during each year were as follows:
| April 2, 2016 |  | March 28, 2015
Expected stock price volatility | 22.27 | % |  | 20.08 | %
Peer group stock price volatility | 31.95 | % |  | 31.52 | %
Correlation of returns | 26.27 | % |  | 30.52 | %
The weighted average rates used to determine the net periodic benefit costs and projected benefit obligations were as follows:
| April 2, 2016 |  | March 28, 2015 |  | March 29, 2014
Discount rate | 0.72 | % |  | 0.93 | % |  | 2.02 | %
Rate of increased salary levels | 1.58 | % |  | 1.65 | % |  | 1.57 | %
Expected long-term rate of return on assets | 1.20 | % |  | 1.68 | % |  | 1.94 | %
Schedule of Summary of Restricted Stock Units Activity | The fair market value of RSUs is determined based on the market value of the Company’s shares on the date of grant. A summary of RSU activity for the fiscal year ended April 2, 2016 is as follows:
| Shares |  | Weighted Average Grant Date Fair Value
Unvested at March 28, 2015 | 357,547 |  |  | $ | 36.73 |
Granted | 278,260 |  |  | 33.19 |
Vested | (112,333 | ) |  | 36.07 |
Forfeited | (142,603 | ) |  | 36.72 |
Unvested at April 2, 2016 | 380,871 |  |  | $ | 34.33 |
Schedule of Performance Share Unit awards | A summary of PSU activity for the fiscal year ended April 2, 2016 is as follows:
| Shares |  | Weighted Average Grant Date Fair Value
Unvested at March 28, 2015 | 129,130 |  |  | $ | 35.09 |
Granted | 80,145 |  |  | 29.20 |
Vested | — |  |  | — |
Forfeited | (106,939 | ) |  | 34.22 |
Unvested at April 2, 2016 | 102,336 |  |  | $ | 31.38 |
Schedule of Market Stock Units Award Activity | A summary of MSU activity for the fiscal year ended April 2, 2016 is as follows:
| Shares |  | Weighted Average Grant Date Fair Value
Unvested at March 28, 2015 | 287,682 |  |  | $ | 33.90 |
Granted | 33,550 |  |  | 10.21 |
Vested | — |  |  | — |
Forfeited | (168,264 | ) |  | 37.42 |
Unvested at April 2, 2016 | 152,968 |  |  | $ | 24.84 |

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