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Retirement Plans (Tables)

9 Months Ended

Dec. 23, 2022

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												Nine-Month Period Ended
			December 23, 2022						December 24, 2021						December 23, 2022						December 24, 2021
Service cost			$	297					$	365					$	932					$	1,119
Interest cost			179						158						561						485
Expected return on plan assets			(71)						(75)						(222)						(230)
Amortization of prior service cost			(2)						1						(6)						1
Actuarial loss			20						51						60						156
Net periodic pension expense			$	423					$	500					$	1,325					$	1,531

Fair Value of Entity's Plan Assets

The table below sets forth the fair value of the non-U.S. defined benefit plan’s assets as of December 23, 2022 and March 25, 2022, using the same three-level hierarchy of fair value inputs described in the significant accounting policies included in the Company’s 2022 Annual Report.

			Fair Value at December 23, 2022						Level 1						Level 2						Level 3
Assets of non-U.S. defined benefit plan:
Government securities			$	2,104					$	2,104					$	—					$	—
Unit investment trust fund			1,180						—						1,180						—
Loans			578						—						—						578
Bonds			677						—						677						—
Stocks and other investments			2,414						1,323						3						1,088
Total			$	6,953					$	3,427					$	1,860					$	1,666

			Fair Value at March 25, 2022						Level 1						Level 2						Level 3
Assets of non-U.S. defined benefit plan:
Government securities			$	1,920					$	1,920					$	—					$	—
Unit investment trust fund			1,165						—						1,165						—
Loans			553						—						—						553
Bonds			676						—						676						—
Stocks and other investments			2,783						1,716						2						1,065
Total			$	7,097					$	3,636					$	1,843					$	1,618

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 nine-month periods ended December 23, 2022 and December 24, 2021:

			Level 3 Non-U.S. Defined Benefit Plan Assets
			Loans						Stocks
Balance at March 25, 2022			$	553					$	1,065
Additions during the year			328						—
Redemptions during the year			(280)						—
Revaluation of equity securities			4						75
Change in foreign currency exchange rates			(27)						(52)
Balance at December 23, 2022			$	578					$	1,088
Balance at March 26, 2021			$	584					$	1,133
Additions during the year			308						—
Redemptions during the year			(289)						—
Revaluation of equity securities			(5)						13
Change in foreign currency exchange rates			(20)						(34)
Balance at December 24, 2021			$	578					$	1,112

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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 https://asc.fasb.org/extlink&oid=123447040&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)
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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)
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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

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 1
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