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Stock-Based Compensation (Tables) | 12 Months Ended
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Apr. 26, 2014
Stock-Based Compensation [Abstract] |
Schedule of grants made during the period | The table below summarizes the grants made during fiscal 2014:
(Shares/units in thousands) |  | Shares/units granted |  |  | Liability/ Equity award |  |  | Settlement |
Stock options |  |  | 175 |  |  | Equity |  |  | Common shares |
Stock appreciation rights (“SARs”) |  |  | 142 |  |  | Liability |  |  | Cash |
Restricted stock units – employees |  |  | 125 |  |  | Liability |  |  | Cash |
Restricted stock units – directors |  |  | 34 |  |  | Equity |  |  | Common shares |
Performance-based units |  |  | 35 |  |  | Liability |  |  | Cash |
Performance-based shares |  |  | 191 |  |  | Equity |  |  | Common shares |
Stock-based compensation expense recognized in consolidated statement of income | The table below summarizes the total stock-based compensation expense recognized in our consolidated statement of income:
(Amounts in thousands) |  | 4/26/2014 |  |  | 4/27/2013 |  |  | 4/28/2012 |
Equity-based awards expense |  | $ | 8,739 |  |  | $ | 11,458 |  |  | $ | 5,718 |
Liability-based awards expense |  |  | 5,736 |  |  |  | 2,170 |  |  |  | 405 |
Total stock-based compensation expense |  | $ | 14,475 |  |  | $ | 13,628 |  |  | $ | 6,123 |
Schedule of stock options plans activity | Plan activity for stock options under the above plans is as follows:
|  | Number of Shares (In Thousands) |  |  | Weighted Average Exercise Price |  |  | Weighted Average Remaining Contractual Term (Years) |  |  | Aggregate Intrinsic Value |
Outstanding at April 27, 2013 |  |  | 1,256 |  |  | $ | 9.78 |  |  |  | 4.7 |  |  | $ | 10,537 |
Granted |  |  | 175 |  |  |  | 19.06 |  |  |  |  |  |  |  |  |
Exercised |  |  | (589 | ) |  |  | 9.00 |  |  |  |  |  |  | $ | 8,335 |
Expired |  |  | (42 | ) |  |  | 20.44 |  |  |  |  |  |  |  |  |
Canceled |  |  | (2 | ) |  |  | 21.68 |  |  |  |  |  |  |  |  |
Outstanding at April 26, 2014 |  |  | 798 |  |  | $ | 11.79 |  |  |  | 7.5 |  |  | $ | 10,185 |
Exercisable at April 26, 2014 |  |  | 287 |  |  | $ | 8.78 |  |  |  | 6.3 |  |  | $ | 4,531 |
Schedule of nonvested share awards and stock unit activity | The following table summarizes information about non-vested share awards as of and for the year ended April 26, 2014:
|  | Number of Shares (In Thousands) |  |  | Weighted Average Grant Date Fair Value |
Non-vested shares at April 27, 2013 |  |  | 530 |  |  | $ | 6.67 |
Vested |  |  | (413 | ) |  |  | 21.32 |
Canceled |  |  | (15 | ) |  |  | 8.05 |
Non-vested shares at April 26, 2014 |  |  | 102 |  |  | $ | 7.77 |
Awards granted during fiscal 2012 |  |  |  |  |  | $ | 6.58 |
The following table summarizes information about non-vested stock units as of and for the year ended April 26, 2014:
|  | Number of Units (In Thousands) |  |  | Weighted Average Grant Date Fair Value |
Non-vested units at April 27, 2013 |  |  | 156 |  |  | $ | 11.91 |
Granted |  |  | 125 |  |  |  | 19.28 |
Vested |  |  | (41 | ) |  |  | 11.54 |
Canceled |  |  | (19 | ) |  |  | 14.75 |
Non-vested units at April 26, 2014 |  |  | 221 |  |  | $ | 15.90 |
Schedule of number of performance based shares and units granted | Payout of these grants depends on our financial performance (80%) and a market-based condition based on the total return that our shareholders receive on their investment in our stock relative to returns earned through investments in other public companies (20%). The performance award opportunity ranges from 50% of the employee’s target award if minimum performance requirements are met to a maximum of 200% of the target award based on the attainment of certain financial and shareholder-return goals over a specific performance period, which is generally three fiscal years. These performance awards are offered at no cost to the employees. The number of performance-based units/shares granted were as follows:
Performance-based awards granted (Shares/units in thousands) |  | Number of Units |  |  | Number of Shares |
Fiscal 2012 grant |  |  | 2 |  |  |  | 690 |
Fiscal 2013 grant |  |  | 146 |  |  |  | 133 |
Fiscal 2014 grant |  |  | 35 |  |  |  | 191 |
Schedule of number of awards earned based on performance conditions | Based on our financial results for fiscal 2014, certain performance conditions were met for some of our outstanding performance-based awards. The number of awards earned based on performance conditions were as follows:
Performance-based awards earned (Shares/units in thousands) |  | Number of Shares/Units |
Fiscal 2012 performance-based shares |  |  | 1,175 |
Fiscal 2012 performance-based units |  |  | 5 |
Fiscal 2013 performance-based shares |  |  | 95 |
Fiscal 2013 performance-based units |  |  | 91 |
Fiscal 2014 performance-based shares |  |  | 67 |
Fiscal 2014 performance-based units |  |  | 11 |
Schedule of equity-based compensation expenses related to performance-based shares | Equity-based compensation expenses related to performance-based shares recognized in our consolidated statement of income were as follows (for the fiscal years ended):
(Amounts in thousands) |  | 4/26/2014 |  |  | 4/27/2013 |  |  | 4/28/2012 |
Fiscal 2011 grant |  | $ | — |  |  | $ | 1,707 |  |  | $ | 200 |
Fiscal 2012 grant |  |  | 3,603 |  |  |  | 5,442 |  |  |  | 1,409 |
Fiscal 2013 grant |  |  | 849 |  |  |  | 440 |  |  |  | — |
Fiscal 2014 grant |  |  | 1,006 |  |  |  | — |  |  |  | — |
Stock Options [Member] |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] |
Valuation assumptions | The fair value of each option grant was estimated at the date of the grant using a Black-Scholes option-pricing model, which requires management to make certain assumptions. Expected volatility was estimated based on the historical volatility of our common shares. The average expected life was based on the contractual term of the stock option and expected employee exercise and post-vesting employment termination trends. The risk-free rate was based on U.S. Treasury issues with a term equal to the expected life assumed at the date of grant. The turnover rate was estimated at the date of grant based on historical experience. The fair value of stock options granted during fiscal 2014, fiscal 2013, and fiscal 2012 were calculated using the following assumptions:
|  | 4/26/2014 |  |  | 4/27/2013 |  |  | 4/28/2012 |
Risk-free interest rate |  |  | 0.84 | % |  |  | 0.75 | % |  |  | 1.5 | %
Dividend rate |  |  | 0.84 | % |  |  | 0 | % |  |  | 0 | %
Expected life in years |  |  | 5.0 |  |  |  | 5.0 |  |  |  | 5.5 |
Stock price volatility |  |  | 81.3 | % |  |  | 83.8 | % |  |  | 88.8 | %
Turnover rate |  |  | 0 | % |  |  | 0 | % |  |  | 4.0 | %
Fair value per share |  | $ | 11.63 |  |  | $ | 7.87 |  |  | $ | 6.68 |
Stock Appreciation Rights (SARs) [Member] |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] |
Valuation assumptions | The fair value of the SARs granted during fiscal 2014 was remeasured at April 26, 2014, using the following assumptions:
|  | 4/26/2014 |
Risk-free interest rate |  |  | 1.64 | %
Dividend rate |  |  | 1.0 | %
Expected life in years |  |  | 4.1 |
Stock price volatility |  |  | 49.5 | %
Fair value per share |  | $ | 11.11 |

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- Definition Tabular disclosure of the significant assumptions used during the year to estimate the fair value of stock options and SARs , 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 No definition available. + Details
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- Definition 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. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5047-113901 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SAB TOPIC 14.F) -URI http://asc.fasb.org/extlink&oid=27013229&loc=d3e301413-122809 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Staff Accounting Bulletin (SAB) -Number Topic 14 -Section F Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(1) -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901 + Details
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