Annual report pursuant to Section 13 and 15(d)

FAIR VALUE MEASUREMENTS (Tables)

v3.23.1
FAIR VALUE MEASUREMENTS (Tables)
 12 Months Ended
Apr. 01, 2023
Fair Value Disclosures [Abstract]  
Schedule of 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 2023
Financial assets:
Cash equivalents:
Money market funds $ 418,304  $ 418,304  $ —  $ — 
Time deposits 21,233  21,233  —  — 
Derivative financial instruments 49,688  —  49,688  — 
Deferred compensation 99,200  99,200  —  — 
Financial liabilities:
Derivative financial instruments 72,653  —  72,653  — 
Deferred compensation 96,364  —  96,364  — 
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 
(a)There were no transfers among the levels within the fair value hierarchy during the years ended March 2023 or 2022.
Schedule of Contingent Consideration Liability Designated as Level 3 The following table presents the activity related to the contingent consideration liability designated as Level 3:
Year Ended March
(In thousands) 2023 2022
Beginning Balance $ 56,976  $ 207,000 
Change in fair value —  (150,024)
Cash payout (56,976) — 
Ending Balance $ —  $ 56,976