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Income Taxes (Tables) | 12 Months Ended
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Mar. 29, 2024
Income Tax Disclosure [Abstract] |
Schedule of Income before Provision for Income Tax, Domestic and Foreign | The components of income before provision for income taxes include the following:
|  | Fiscal Year Ended |
|  | March 29, 2024 |  |  | March 31, 2023 |  |  | March 25, 2022 |
Income before provision for income taxes attributable to: |  |  |  |  |  |  |  |  |
Domestic operations |  | $ | 183,524 |  |  | $ | 190,107 |  |  | $ | 121,883 |
Foreign operations |  |  | 11,273 |  |  |  | 21,239 |  |  |  | 18,863 |
Total |  | $ | 194,797 |  |  | $ | 211,346 |  |  | $ | 140,746 |
Schedule of Tax Provision | Significant components of the provision for income taxes are as follows:
|  | Fiscal Year Ended |
|  | March 29, 2024 |  |  | March 31, 2023 |  |  | March 25, 2022 |
Current: |  |  |  |  |  |  |  |  |
Federal |  | $ | 16,086 |  |  | $ | 53,973 |  |  | $ | 7,779 |
State |  |  | 1,319 |  |  |  | 472 |  |  |  | 1,553 |
Foreign |  |  | 43,117 |  |  |  | 9,523 |  |  |  | 4,361 |
Total current |  |  | 60,522 |  |  |  | 63,968 |  |  |  | 13,693 |
Deferred: |  |  |  |  |  |  |  |  |
Federal |  |  | 10,721 |  |  |  | (36,276 | ) |  |  | 7,892 |
State |  |  | (131 | ) |  |  | 310 |  |  |  | 371 |
Foreign |  |  | (29,203 | ) |  |  | (4,150 | ) |  |  | (765 | )
Total deferred |  |  | (18,613 | ) |  |  | (40,116 | ) |  |  | 7,498 |
Total income tax provision |  | $ | 41,909 |  |  | $ | 23,852 |  |  | $ | 21,191 |
Schedule of Income Taxes Reconciliation | The difference between the tax provision at the statutory federal tax rate and the provision for income taxes is as follows:
|  | Fiscal Year Ended |
|  | March 29, 2024 |  |  | March 31, 2023 |  |  | March 25, 2022 |
Tax provision at U.S. statutory rate |  | $ | 40,907 |  |  | $ | 44,383 |  |  | $ | 29,557 |
State income taxes, net of federal benefit |  |  | 1,106 |  |  |  | 1,027 |  |  |  | 2,370 |
Foreign derived intangible income |  |  | (25,612 | ) |  |  | (25,391 | ) |  |  | (9,066 | )
Research and development tax credit |  |  | (6,188 | ) |  |  | (3,641 | ) |  |  | (2,823 | )
Stock-based compensation |  |  | (956 | ) |  |  | (1,025 | ) |  |  | (230 | )
Cumulative provision-to-return |  |  | (1,147 | ) |  |  | (914 | ) |  |  | (590 | )
Gain on contingent purchase price reduction |  |  | — |  |  |  | (588 | ) |  |  | (420 | )
Subpart F income, net of credits |  |  | (168 | ) |  |  | (307 | ) |  |  | 283 |
Provision for uncertain tax positions |  |  | 827 |  |  |  | (81 | ) |  |  | (17 | )
162(m) limitation |  |  | 3,010 |  |  |  | 8,931 |  |  |  | 3,988 |
Foreign tax rate |  |  | 2,632 |  |  |  | 954 |  |  |  | (157 | )
Deferred tax remeasurement |  |  | — |  |  |  | 651 |  |  |  | — |
Transaction costs |  |  | 1,848 |  |  |  | 338 |  |  |  | 307 |
CARES carryback claim and amended returns |  |  | — |  |  |  | — |  |  |  | (2,031 | )
Entity restructuring |  |  | 25,921 |  |  |  | — |  |  |  | — |
Other |  |  | (271 | ) |  |  | (485 | ) |  |  | 20 |
Total income tax provision |  | $ | 41,909 |  |  | $ | 23,852 |  |  | $ | 21,191 |
Schedule of Deferred Tax Assets and Liabilities | Deferred income taxes reflect the net tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. Significant components of the Company’s deferred tax assets and liabilities are as follows:
|  | March 29, 2024 |  |  | March 31, 2023 |
Deferred income tax assets: |  |  |  |  |  |
Capitalized research and development costs |  | $ | 62,651 |  |  | $ | 30,582 |
Bonuses, sales commissions and other compensation |  |  | 9,407 |  |  |  | 11,506 |
Inventory and sales related |  |  | 16,766 |  |  |  | 8,730 |
Stock-based compensation |  |  | 4,544 |  |  |  | 3,842 |
Tax credits |  |  | 3,290 |  |  |  | 3,220 |
Lease liability |  |  | 2,388 |  |  |  | 2,479 |
Property, plant and equipment, net |  |  | 157 |  |  |  | — |
Other accruals and reserves |  |  | 2,653 |  |  |  | 2,803 |
Net operating loss carryforward |  |  | 8,589 |  |  |  | 361 |
Gross deferred income tax assets |  |  | 110,445 |  |  |  | 63,523 |
Valuation allowance for deferred income tax assets |  |  | (3,160 | ) |  |  | (3,581 | )
Total deferred income tax assets |  |  | 107,285 |  |  |  | 59,942 |
Deferred income tax liabilities: |  |  |  |  |  |
Equity method and other investments |  |  | (1,782 | ) |  |  | (4,172 | )
Intangibles, net |  |  | (48,875 | ) |  |  | (1,090 | )
Property, plant and equipment, net |  |  | — |  |  |  | (1,930 | )
Right-of-use asset |  |  | (2,132 | ) |  |  | (2,391 | )
Total deferred income tax liabilities |  |  | (52,789 | ) |  |  | (9,583 | )
Net deferred income tax assets |  | $ | 54,496 |  |  | $ | 50,359 |
Schedule of Unrecognized Tax Benefits Roll Forward |
|  | Fiscal Year Ended |
|  | March 29, 2024 |  |  | March 31, 2023 |  |  | March 25, 2022 |
Beginning balance |  | $ | 2,408 |  |  | $ | 2,459 |  |  | $ | 2,554 |
Gross acquired - tax positions from prior periods |  |  | 2,210 |  |  |  | — |  |  |  | — |
Gross increases - tax positions in prior period |  |  | 378 |  |  |  | — |  |  |  | — |
Lapse in statute of limitations |  |  | (16 | ) |  |  | (51 | ) |  |  | (95 | )
Balance at end of period |  | $ | 4,980 |  |  | $ | 2,408 |  |  | $ | 2,459 |

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