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v3.25.1

INCOME TAXES (Tables) | 12 Months Ended
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Mar. 29, 2025
Income Tax Disclosure [Abstract] |
Schedule Domestic and Foreign Income Before Provision for Income Tax | Domestic and foreign income before provision for income tax is as follows:
(In thousands) | 2025 |  | 2024 |  | 2023
Domestic | $ | 161,800 |  |  | $ | 112,563 |  |  | $ | 85,657 |
Foreign | 50,271 |  |  | 39,302 |  |  | 55,746 |
Total | $ | 212,071 |  |  | $ | 151,865 |  |  | $ | 141,403 |
Schedule of Income Tax Provision Components | The income tax provision (benefit) from continuing operations contains the following components:
(In thousands) | 2025 |  | 2024 |  | 2023
Current |  |  |  |  |
Federal | $ | 29,818 |  |  | $ | 29,113 |  |  | $ | 6,461 |
State | 8,112 |  |  | 6,539 |  |  | 4,824 |
Foreign | 12,085 |  |  | 9,532 |  |  | 8,940 |
Total current | $ | 50,015 |  |  | $ | 45,184 |  |  | $ | 20,225 |
Deferred |  |  |  |  |
Federal | (6,555) |  |  | (6,165) |  |  | 14,298 |
State | 1,774 |  |  | 2,132 |  |  | (7,678) |
Foreign | (842) |  |  | (6,844) |  |  | (843) |
Total deferred | $ | (5,623) |  |  | $ | (10,877) |  |  | $ | 5,777 |
Total | $ | 44,392 |  |  | $ | 34,307 |  |  | $ | 26,002 |
Schedule of Net Deferred Tax Asset | Tax effected, significant temporary differences comprising the net deferred tax liability are as follows:
(In thousands) | March 29, 2025 |  | March 30, 2024
Deferred tax assets: |  |  |
Depreciation | $ | 97 |  |  | $ | 1,817 |
Amortization of intangibles | 4,796 |  |  | 3,715 |
Inventory | 2,846 |  |  | 5,502 |
Accruals, reserves and other deferred tax assets | 14,801 |  |  | 18,777 |
Net operating loss carry-forward | 8,842 |  |  | 16,221 |
Stock based compensation | 4,897 |  |  | 3,965 |
Operating lease liabilities | 14,906 |  |  | 16,132 |
Tax credit carry-forward, net | 6,713 |  |  | 7,766 |
Capitalized research expenses | 39,219 |  |  | 31,370 |
Gross deferred tax assets | 97,117 |  |  | 105,265 |
Less valuation allowance | (11,930) |  |  | (10,239) |
Total deferred tax assets (after valuation allowance) | 85,187 |  |  | 95,026 |
Deferred tax liabilities: |  |  |
Depreciation | (35,006) |  |  | (35,279) |
Amortization of goodwill and intangibles | (87,905) |  |  | (96,597) |
Unremitted earnings | (1,497) |  |  | (1,334) |
Operating lease assets | (12,033) |  |  | (13,341) |
Other deferred tax liabilities | (3,518) |  |  | (3,380) |
Total deferred tax liabilities | (139,959) |  |  | (149,931) |
Net deferred tax liabilities | $ | (54,772) |  |  | $ | (54,905) |
Schedule of Effective Income Tax Rate Reconciliation |
(In thousands) | 2025 |  | 2024 |  | 2023
Tax at federal statutory rate | $ | 44,535 |  |  | 21.0 | % |  | $ | 31,892 |  |  | 21.0 | % |  | $ | 29,695 |  |  | 21.0 | %
Impact of foreign operations | (732) |  |  | (0.3) | % |  | (3,631) |  |  | (2.4) | % |  | (2,408) |  |  | (1.7) | %
State income taxes net of federal benefit | 7,505 |  |  | 3.5 | % |  | 7,037 |  |  | 4.6 | % |  | 2,939 |  |  | 2.1 | %
Change in uncertain tax positions | (1,227) |  |  | (0.6) | % |  | (107) |  |  | (0.1) | % |  | 81 |  |  | 0.1 | %
Global intangible low taxed income | (1,380) |  |  | (0.7) | % |  | (555) |  |  | (0.4) | % |  | (828) |  |  | (0.6) | %
Unremitted earnings | 163 |  |  | 0.1 | % |  | 171 |  |  | 0.1 | % |  | (91) |  |  | (0.1) | %
Deferred statutory rate changes | 543 |  |  | 0.3 | % |  | (159) |  |  | (0.1) | % |  | 82 |  |  | 0.1 | %
Non-deductible executive compensation | 5,130 |  |  | 2.4 | % |  | 3,256 |  |  | 2.1 | % |  | 1,439 |  |  | 1.0 | %
Non-deductible expenses | 2,845 |  |  | 1.3 | % |  | 2,355 |  |  | 1.6 | % |  | 827 |  |  | 0.6 | %
Stock compensation shortfalls (benefits) | (4,469) |  |  | (2.1) | % |  | (1,841) |  |  | (1.2) | % |  | 1,883 |  |  | 1.3 | %
Research credits | (2,411) |  |  | (1.1) | % |  | (1,378) |  |  | (0.9) | % |  | (2,073) |  |  | (1.5) | %
Contingent consideration | (4,774) |  |  | (2.3) | % |  | — |  |  | — | % |  | — |  |  | — | %
Impact of foreign tax law changes | (2,707) |  |  | (1.3) | % |  | (2,739) |  |  | (1.8) | % |  | — |  |  | — | %
Valuation allowance | 1,744 |  |  | 0.9 | % |  | (393) |  |  | (0.2) | % |  | (5,135) |  |  | (3.6) | %
Other, net | (373) |  |  | (0.2) | % |  | 399 |  |  | 0.3 | % |  | (409) |  |  | (0.3) | %
Income tax provision | $ | 44,392 |  |  | 20.9 | % |  | $ | 34,307 |  |  | 22.6 | % |  | $ | 26,002 |  |  | 18.4 | %
Schedule of Unrecognized Tax Benefits Roll Forward | The following table summarizes the activity related to its gross unrecognized tax benefits for the fiscal years ended March 29, 2025, March 30, 2024 and April 1, 2023:
(In thousands) | March 29, 2025 |  | March 30, 2024 |  | April 1, 2023
Beginning Balance | $ | 3,743 |  |  | $ | 3,941 |  |  | $ | 3,939 |
Additions for tax positions of the current year | 315 |  |  | 234 |  |  | 292 |
Additions for tax positions of a prior year | 1,242 |  |  | — |  |  | — |
Additions for tax positions related to acquired businesses | 91 |  |  | — |  |  | — |
Reductions of tax positions | (64) |  |  | (198) |  |  | (290) |
Expiration of statute of limitations | (2,505) |  |  | (234) |  |  | — |
Ending Balance | $ | 2,822 |  |  | $ | 3,743 |  |  | $ | 3,941 |

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