Annual report pursuant to Section 13 and 15(d)

FAIR VALUE MEASUREMENTS (Tables)

v3.22.1
FAIR VALUE MEASUREMENTS (Tables)
 12 Months Ended
Apr. 02, 2022
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 2022
Financial assets:
Cash equivalents:
Money market funds $ 324,868  $ 324,868  $ —  $ — 
Time deposits 1,100  1,100  —  — 
Derivative financial instruments 79,046  —  79,046  — 
Deferred compensation 125,323  125,323  —  — 
Financial liabilities:
Derivative financial instruments 27,723  —  27,723  — 
Deferred compensation 129,078  —  129,078  — 
Contingent consideration 56,976  —  —  56,976 
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 
(a)There were no transfers among the levels within the fair value hierarchy during the years ended March 2022 or 2021.
Schedule of Contingent Consideration Liability Designated as Level 3 The following table presents the change in fair value of the contingent consideration liability designated as Level 3:
Year Ended
(In thousands) March 2022
Beginning Balance $ 207,000 
Change in fair value (150,024)
Ending Balance $ 56,976