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FAIR VALUE MEASUREMENTS (Tables)

3 Months Ended

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

X

- 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

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- References

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X

- 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.

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