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FAIR VALUE MEASUREMENTS (Tables) | 3 Months Ended
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Jul. 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 |
June 2021 |  |  |  |  |  |  |  |
Financial assets: |  |  |  |  |  |  |  |
Cash equivalents: |  |  |  |  |  |  |  |
Money market funds | $ | 368,227 |  |  | $ | 368,227 |  |  | $ | — |  |  | $ | — |  |
Time deposits | 4,856 |  |  | 4,856 |  |  | — |  |  | — |  |
Short-term investments | 598,806 |  |  | 598,806 |  |  | — |  |  | — |  |
Derivative financial instruments | 13,838 |  |  | — |  |  | 13,838 |  |  | — |  |
Deferred compensation | 143,633 |  |  | 143,633 |  |  | — |  |  | — |  |
Financial liabilities: |  |  |  |  |  |  |  |
Derivative financial instruments | 65,725 |  |  | — |  |  | 65,725 |  |  | — |  |
Deferred compensation | 154,338 |  |  | — |  |  | 154,338 |  |  | — |  |
Contingent consideration | 134,000 |  |  | — |  |  | — |  |  | 134,000 |  |
| 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 three months ended June 2021 or the year ended March 2021.
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) | Contingent Consideration
Balance, March 2021 | $ | 207,000 |  |
Change in fair value | (73,000) |  |
Balance, June 2021 | $ | 134,000 |  |

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- Definition Tabular disclosure of the fair value of financial instruments, including financial assets and financial liabilities, and the measurements of those instruments, assets, and liabilities. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=123594938&loc=d3e13467-108611 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=123874694&loc=d3e19207-110258 + Details
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- Definition Tabular disclosure of contingent payment arrangements including the terms that will result in payment and the accounting treatment that will be followed if such contingencies occur, including the potential impact on earnings per share if contingencies are to be settled in common stock of the entity. The description also may include the period over which amounts are expected to be paid, and changes in the amount since the previous reporting period. This also includes contingent options and commitments. + References No definition available. + Details
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