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Fair Value Measurements | 9 Months Ended
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Dec. 23, 2022
Fair Value Disclosures [Abstract] |
Fair Value Measurements | Fair Value Measurements The following tables present information about the Company’s financial assets and liabilities as of December 23, 2022 and March 25, 2022, measured at fair value on a recurring basis and indicate the level of the fair value hierarchy utilized to determine such fair values:
| Fair Value Measurement at December 23, 2022 Using:
| Level 1 |  | Level 2 |  | Level 3 |  | Total
Assets: |  |  |  |  |  |  |
Cash equivalents: |  |  |  |  |  |  |
Money market fund deposits | $ | 172,518 |  |  | $ | — |  |  | $ | — |  |  | $ | 172,518 |
Restricted cash: |  |  |  |  |  |  |
Money market fund deposits | 9,822 |  |  | — |  |  | — |  |  | 9,822 |
Other assets (long-term): |  |  |  |  |  |  |
Investments in marketable securities | $ | 12,144 |  |  | $ | — |  |  | $ | — |  |  | $ | 12,144 |
Total assets | $ | 194,484 |  |  | $ | — |  |  | $ | — |  |  | $ | 194,484 |
Liabilities: |  |  |  |  |  |  |
Other long-term liabilities: |  |  |  |  |  |  |
Contingent consideration | $ | — |  |  | $ | — |  |  | $ | 100 |  |  | $ | 100 |
Total liabilities | $ | — |  |  | $ | — |  |  | $ | 100 |  |  | $ | 100 |
| Fair Value Measurement at March 25, 2022 Using:
| Level 1 |  | Level 2 |  | Level 3 |  | Total
Assets: |  |  |  |  |  |  |
Cash equivalents: |  |  |  |  |  |  |
Money market fund deposits | $ | 16,927 |  |  | $ | — |  |  | $ | — |  |  | $ | 16,927 |
Restricted cash: |  |  |  |  |  |  |
Money market fund deposits | 7,416 |  |  | — |  |  | — |  |  | 7,416 |
Other assets (long-term): |  |  |  |  |  |  |
Investments in marketable securities | 12,346 |  |  | — |  |  | — |  |  | 12,346 |
Total assets | $ | 36,689 |  |  | $ | — |  |  | $ | — |  |  | $ | 36,689 |
Liabilities: |  |  |  |  |  |  |
Other long-term liabilities: |  |  |  |  |  |  |
Contingent consideration | — |  |  | — |  |  | 2,800 |  |  | 2,800 |
Total liabilities | $ | — |  |  | $ | — |  |  | $ | 2,800 |  |  | $ | 2,800 |
The following table represents the unrealized gains and losses on investments in marketable securities held with a readily determinable fair value for the nine-month periods ended December 23, 2022 and December 24, 2021:
| Nine-Month Period Ended
| December 23, 2022 |  | December 24, 2021
Net (losses) gains recognized during the period on equity securities | $ | (5) |  |  | $ | 4,482 |
Less: Net gains and losses recognized during the period on equity securities sold during the period | — |  |  | — |
Unrealized (losses) gains recognized during the reporting period on equity securities still held at the reporting date | $ | (5) |  |  | $ | 4,482 |
In addition to the unrealized losses and gains in the table above, the change in fair value of the equity securities was impacted by unrealized foreign currency exchange losses of $197 and $278 for the nine-month periods ended December 23, 2022 and December 24, 2021, respectively. The following table shows the change in fair value of Level 3 contingent consideration in connection with the fiscal year 2021 purchase of Voxtel, Inc. (“Voxtel”), a privately held technology company located in Beaverton, Oregon that develops, manufactures and supplies photonic and advanced 3D imaging technologies (the “Voxtel Acquisition”), for the nine-month periods ended December 23, 2022 and December 24, 2021:
| Level 3 Contingent Consideration
Balance at March 25, 2022 | $ | 2,800 |
Change in fair value of contingent consideration | (2,700) |
Balance at December 23, 2022 | $ | 100 |
Balance at March 26, 2021 | $ | 4,800 |
Change in fair value of contingent consideration | (2,100) |
Balance at December 24, 2021 | $ | 2,700 |
Assets and liabilities measured at fair value on a recurring basis also consist of marketable securities, unit investment trust funds, loans, bonds, stock and other investments which are the Company’s defined benefit plan assets. Fair value information for those assets and liabilities, including their classification in the fair value hierarchy, is included in Note 13, “Retirement Plans.” During the nine-month periods ended December 23, 2022 and December 24, 2021, there were no transfers among Level 1, Level 2 and Level 3 assets or liabilities.

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- Definition The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -URI https://asc.fasb.org/extlink&oid=126976982&loc=d3e19207-110258 + Details
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