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Fair Value Measurements (Tables)

9 Months Ended

Dec. 23, 2022

Fair Value Disclosures [Abstract]

Fair Value, by Balance Sheet Grouping

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

Unrealized Gains and Losses on Marketable Securities with a Readily Determinable Fair Value

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

Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation

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

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 https://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 https://asc.fasb.org/extlink&oid=126976982&loc=d3e19207-110258

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- Definition

Tabular disclosure of the fair value measurement of liabilities using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets), and gains or losses recognized in other comprehensive income (loss) and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs) by class of liability.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (c)
-URI https://asc.fasb.org/extlink&oid=126976982&loc=d3e19207-110258

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 3
-URI https://asc.fasb.org/extlink&oid=126976982&loc=d3e19279-110258

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- Definition

Tabular disclosure of realized and unrealized gain (loss) on investment in security.

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