RETIREMENT PLANS (Tables)

12 Months Ended

Mar. 31, 2018

Compensation and Retirement Disclosure [Abstract]

Schedule of Components of Net Periodic Benefit Costs of Defined Benefit Pension Plans

Some of the our foreign subsidiaries have defined benefit pension plans covering substantially all full time employees at those subsidiaries. Net periodic benefit costs for the plans in the aggregate include the following components:



(In thousands)	2018			2017			2016
Service cost	$	2,651		$	3,404		$	3,560
Interest cost on benefit obligation	293			287			371
Expected return on plan assets	(215		)	(308		)	(330		)
Actuarial loss	186			532			598
Amortization of unrecognized prior service cost	(121		)	(119		)	(38		)
Amortization of unrecognized transition obligation	—			37			42
Plan settlements and curtailments	(445		)	289			—
Totals	$	2,349		$	4,122		$	4,203

Schedule of Activity Under Defined Benefit Plans

The activity under those defined benefit plans are as follows:



(In thousands)	March 31, 2018			April 1, 2017
Change in Benefit Obligation:
Benefit Obligation, beginning of year	$	(31,345	)	$	(37,919	)
Service cost	(2,651		)	(3,404		)
Interest cost	(293		)	(287		)
Benefits paid	518			1,291
Actuarial gain	2,381			4,615
Employee and plan participants contribution	(3,441		)	(2,463		)
Plan settlements and curtailments	5,064			6,960
Foreign currency changes	(709		)	(138		)
Benefit obligation, end of year	$	(30,476	)	$	(31,345	)
Change in Plan Assets:
Fair value of plan assets, beginning of year	$	17,285		$	19,852
Company contributions	1,542			1,788
Benefits paid	(434		)	(1,192		)
(Loss) gain on plan assets	(200		)	414
Employee and plan participants contributions	3,490			2,424
Plan settlements	(4,531		)	(6,850		)
Foreign currency changes	(830		)	849
Fair value of plan assets, end of year	$	16,322		$	17,285
Funded Status^*	$	(14,154	)	$	(14,060	)
Unrecognized net actuarial loss	2,187			4,319
Unrecognized prior service cost	(698		)	(1,019		)
Net amount recognized	$	(12,665	)	$	(10,760	)
^* Substantially all of the unfunded status is non-current

Schedule of Components of Change Recorded in Accumulated Other Comprehensive Income Related to Defined Benefit Plans, Net of Tax

The components of the change recorded in our accumulated other comprehensive loss related to our defined benefit plans, net of tax, are as follows (in thousands):



Balance, March 28, 2015	$	(8,923	)
Obligation at transition	33
Actuarial loss	681
Prior service cost	717
Balance as of April 2, 2016	$	(7,492	)
Obligation at transition	32
Actuarial loss	5,126
Prior service cost	62
Balance as of April 1, 2017	$	(2,272	)
Actuarial loss	1,922
Prior service cost	(125		)
Plan settlements and curtailments	152
Balance as of March 31, 2018	$	(323	)

Schedule of Weighted Average Rates Used to Determine Net Periodic Benefit Costs

The weighted average rates used to determine the net periodic benefit costs and projected benefit obligations were as follows:



	2018		2017		2016
Discount rate	1.07	%	0.76	%	0.72	%
Rate of increased salary levels	1.73	%	1.43	%	1.58	%
Expected long-term rate of return on assets	0.90	%	1.10	%	1.20	%

The fair values of shares purchased under the Employee Stock Purchase Plan are estimated using the Black-Scholes single option-pricing model with the following weighted average assumptions:



	2018		2017		2016
Volatility	22.6	%	31.3	%	21.1	%
Expected life (months)	6		6		6
Risk-free interest rate	1.2	%	0.5	%	0.2	%
Dividend Yield	0.0	%	0.0	%	0.0	%

The weighted-average grant-date fair value of RSUs granted and total fair value of RSUs vested were as follows:



	2018		2017		2016
Grant-date fair value per RSU	$	41.87	$	32.61	$	33.19
Fair value of RSUs vested	$	33.03	$	34.98	$	36.07

The assumptions used in the Monte Carlo model for PSUs granted during each year were as follows:



	2018		2017		2016
Expected stock price volatility	26.11	%	26.39	%	22.27	%
Peer group stock price volatility	34.13	%	33.86	%	31.95	%
Correlation of returns	49.51	%	51.17	%	26.27	%

Schedule of Estimated Future Benefit Payments

Estimated future benefit payments are as follows:



(In thousands)
Fiscal 2019	$	2,770
Fiscal 2020	1,351
Fiscal 2021	1,364
Fiscal 2022	1,529
Fiscal 2023	1,441
Fiscal 2024-2027	6,421
	$	14,876