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Retirement Plans (Tables)

6 Months Ended

Sep. 24, 2021

Retirement Benefits [Abstract]

Schedule of Expense Related to Defined Benefit Plan

Expense related to the non-United States (“U.S.”). defined benefit plan was as follows:

			Three-Month Period Ended												Six-Month Period Ended
			September 24, 2021						September 25, 2020						September 24, 2021						September 25, 2020
Service cost			$	371					$	277					$	754					$	547
Interest cost			161						156						327						308
Expected return on plan assets			(76)						(74)						(155)						(152)
Amortization of prior service cost			—						2						—						4
Actuarial loss			52						45						105						79
Net periodic pension expense			$	508					$	406					$	1,031					$	786

Fair Value of Entity's Plan Assets

The table below sets forth the fair value of the entity’s plan assets as of September 24, 2021 and March 26, 2021, using the same three-level hierarchy of fair value inputs described in the significant accounting policies included in the Company’s 2021 Annual Report.

			Fair Value at September 24, 2021						Level 1						Level 2						Level 3
Assets of non-U.S. defined benefit plan:
Government securities			$	1,726					$	1,726					$	—					$	—
Unit investment trust fund			1,053						—						1,053						—
Loans			620						—						—						620
Bonds			867						—						867						—
Stocks and other investments			2,438						1,340						2						1,096
Total			$	6,704					$	3,066					$	1,922					$	1,716

			Fair Value at March 26, 2021						Level 1						Level 2						Level 3
Assets of non-U.S. defined benefit plan:
Government securities			$	1,646					$	1,646					$	—					$	—
Unit investment trust fund			1,221						—						1,221						—
Loans			584						—						—						584
Bonds			1,112						—						1,112						—
Stocks and other investments			3,081						1,947						1						1,133
Total			$	7,644					$	3,593					$	2,334					$	1,717

Schedule of Changes in Fair Value of Level 3 Plan Assets

The following table shows the change in fair value of Level 3 plan assets for the six-month period ended September 24, 2021:

			Level 3 Non-U.S. Defined Plan Assets
			Loans						Stocks
Balance at March 26, 2021			$	584					$	1,133
Additions during the year			273						—
Redemptions during the year			(214)						—
Revaluation of equity securities			(1)						—
Change in foreign currency exchange rates			(22)						(37)
Balance at September 24, 2021			$	620					$	1,096

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- References

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- Definition

Tabular disclosure of defined benefit plan asset investment. Includes, but is not limited to, fair value of category of plan asset and its level within fair value hierarchy.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (d)(iv)(01)
-URI http://asc.fasb.org/extlink&oid=118255775&loc=d3e1928-114920

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (d)(ii)
-URI http://asc.fasb.org/extlink&oid=118255775&loc=d3e1928-114920

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- Definition

Tabular disclosure of the reconciliation of beginning and ending balances of the fair value of plan assets of pension plans and/or other employee benefit plans showing separately, if applicable, the effects during the period attributable to each of the following: actual return on plan assets, foreign currency exchange rate changes, contributions by the employer, contributions by plan participants, benefits paid, business combinations, divestitures, and settlements.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=118255775&loc=d3e1928-114920

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- Definition

Tabular disclosure of the components of net benefit costs for pension plans and/or other employee benefit plans including service cost, interest cost, expected return on plan assets, gain (loss), prior service cost or credit, transition asset or obligation, and gain (loss) recognized due to settlements or curtailments.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (h)
-URI http://asc.fasb.org/extlink&oid=118255775&loc=d3e1928-114920

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