Annual report pursuant to Section 13 and 15(d)

FAIR VALUE MEASUREMENTS (Tables)

v3.21.1
FAIR VALUE MEASUREMENTS (Tables)
 12 Months Ended
Apr. 03, 2021
Fair Value Disclosures [Abstract]  
Classes of Financial Assets and Financial Liabilities Measured and Recorded at Fair Value on Recurring Basis
The following table summarizes financial assets and financial liabilities that are measured and recorded in the consolidated financial statements at fair value on a recurring basis:
  Total Fair
Value
Fair Value Measurement Using (a)
(In thousands) Level 1 Level 2 Level 3
March 2021
Financial assets:
Cash equivalents:
Money market funds $ 216,591  $ 216,591  $ —  $ — 
Time deposits 102,914  102,914  —  — 
Short-term investments 598,806  598,806  —  — 
Derivative financial instruments 13,257  —  13,257  — 
Deferred compensation 141,072  141,072  —  — 
Financial liabilities:
Derivative financial instruments 74,255  —  74,255  — 
Deferred compensation 150,713  —  150,713  — 
Contingent consideration 207,000  —  —  207,000 
Total Fair
Value
Fair Value Measurement Using (a)
(In thousands) Level 1 Level 2 Level 3
March 2020
Financial assets:
Cash equivalents:
Money market funds $ 1,211,887  $ 1,211,887  $ —  $ — 
Time deposits 1,932  1,932  —  — 
Derivative financial instruments 91,834  —  91,834  — 
Deferred compensation 105,706  105,706  —  — 
Financial liabilities:
Derivative financial instruments 14,531  —  14,531  — 
Deferred compensation 113,289  —  113,289  — 
(a)There were no transfers among the levels within the fair value hierarchy during the years ended March 2021 or 2020.
Schedule of Contingent Consideration Liability Designated as Level 3 The following table presents the changes in fair value of the contingent consideration liability designated as Level 3:
(In thousands) Fair Value
Balance, March 2020 $ — 
Acquisition 207,000 
Adjustment — 
Balance, March 2021 $ 207,000