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Fair Value Measurements
 9 Months Ended
Dec. 27, 2024
Fair Value Disclosures [Abstract]  
Fair Value Measurements

4. Fair Value Measurements

The following tables present information about the Company’s financial assets and liabilities as of December 27, 2024 and March 29, 2024, measured at fair value on a recurring basis:

 

 

Fair Value Measurement at December 27, 2024:

 

 

Level 1

 

 

Level 2

 

 

Total Fair Value

 

Assets:

 

 

 

 

 

 

 

 

 

Cash equivalents:

 

 

 

 

 

 

 

 

 

Money market fund

 

$

35,430

 

 

$

—

 

 

$

35,430

 

Time deposits

 

 

—

 

 

 

3,392

 

 

 

3,392

 

Restricted cash:

 

 

 

 

 

 

 

 

 

Money market fund

 

 

10,510

 

 

 

—

 

 

 

10,510

 

Total assets

 

$

45,940

 

 

$

3,392

 

 

$

49,332

 

 

 

Fair Value Measurement at March 29, 2024:

 

 

Level 1

 

 

Level 2

 

 

Total Fair Value

 

Assets:

 

 

 

 

 

 

 

 

 

Cash equivalents:

 

 

 

 

 

 

 

 

 

Money market fund

 

$

36,192

 

 

$

—

 

 

$

36,192

 

Restricted cash:

 

 

 

 

 

 

 

 

 

Money market fund

 

 

10,018

 

 

 

—

 

 

 

10,018

 

Total assets

 

$

46,210

 

 

$

—

 

 

$

46,210

 

 

Assets and liabilities measured at fair value on a recurring basis also consist of government securities, unit investment trust funds, loans, bonds, stock and other investments, which constitute 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 15, “Retirement Plans” within the Company’s Annual Report on Form 10-K for the year ended March 29, 2024. The changes in the Company’s defined benefit plan assets were not material for the nine-month period ended December 27, 2024.

During the nine-month periods ended December 27, 2024 and December 29, 2023, there were no transfers among Level 1, Level 2 and Level 3 assets or liabilities.

The fair value of the Company’s debt was $376,406 as of December 27, 2024. The fair value was determined based on the quoted price of the debt in an inactive market on the last trading date of the reporting period and has been classified as Level 2 within the fair value hierarchy.