v3.25.2
FINANCIAL INSTRUMENTS AND FAIR VALUE MEASUREMENTS (Tables)
 3 Months Ended
Jun. 28, 2025
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Interest Rate Swaps
The Company held the following interest rate swaps as of June 28, 2025:
Hedged ItemOriginal Notional Amount
Notional Amount as of June 28, 2025
Designation DateEffective DateTermination DateFixed Interest RateEstimated Fair Value Assets (Liabilities)
(Dollars in Thousands)
1-month USD Term SOFR$109,900 $102,289 9/27/20249/30/20244/30/20293.32%$218 
1-month USD Term SOFR109,900 100,906 9/27/20249/30/20244/30/20293.30%310 
Total$219,800 $203,195 $528 
Accounts Receivable, Allowance for Credit Loss
The following is a roll forward of the allowance for credit losses:
Three Months Ended
June 28, 2025June 29, 2024
(Dollars in Thousands)
Beginning balance$6,300 $5,695 
Credit loss521 37 
Recoveries(505)(13)
Ending balance$6,316 $5,719 
Schedule of Effect of Derivative Instruments Designated as Cash Flow Hedges and Those Not Designated as Hedging Instruments
The following table presents the effect of the Company’s derivative instruments designated as cash flow hedges and those not designated as hedging instruments under ASC 815 in its condensed consolidated statements of income for the three months ended June 28, 2025:

Derivative InstrumentsAmount of Gain (Loss) Recognized
in AOCL		Amount of Gain Reclassified
from AOCL into
Earnings		Classification in EarningsAmount of Gain (Loss) Excluded from
Effectiveness
Testing		Classification in Earnings
(Dollars in Thousands)
Designated foreign currency hedge contracts, net of tax$901 $54 Net revenues, cost of goods sold and SG&A$532 Interest and other (expense) income, net
Non-designated foreign currency hedge contracts$— $—  $(5,164)Interest and other (expense) income, net
Designated interest rate swaps, net of tax$(1,422)$2 Interest and other (expense) income, net$— 
Schedule of Fair Value of Derivative Instruments as They Appear in Consolidated Balance Sheets
The following tables present the fair value of the Company’s derivative instruments as they appear in its condensed consolidated balance sheets as of June 28, 2025 and March 29, 2025:
ClassificationJune 28, 2025March 29, 2025
(Dollars in Thousands)
Derivative Assets:   
Designated foreign currency hedge contractsPrepaid expenses and other current assets$630 $193 
Non-designated foreign currency hedge contractsPrepaid expenses and other current assets49 85 
Designated interest rate swapsPrepaid expenses and other current assets1,027 1,305 
Designated interest rate swapsOther long-term assets— 1,020 
Total$1,706 $2,603 
  
Derivative Liabilities:   
Designated foreign currency hedge contractsOther current liabilities$— $471 
Non-designated foreign currency hedge contractsOther current liabilities702 25 
Designated interest rate swapsOther long-term liabilities499 — 
Total $1,201 $496 
Schedule of Financial Assets and Financial Liabilities Measured at Fair Value on a Recurring Basis
Financial assets and financial liabilities measured at fair value on a recurring basis consist of the following as of June 28, 2025 and March 29, 2025.
June 28, 2025
Level 1Level 2Level 3Total
(Dollars in Thousands)
Assets   
Money market funds$142,516 $— $— $142,516 
Designated foreign currency hedge contracts— 630 — 630 
Non-designated foreign currency hedge contracts— 49 — 49 
Designated interest rate swaps— 1,027 — 1,027 
Total$142,516 $1,706 $— $144,222 
Liabilities   
Designated foreign currency hedge contracts$— $— $— $— 
Non-designated foreign currency hedge contracts— 702 — 702 
Designated interest rate swaps— 499 — 499 
Contingent consideration— — 2,185 2,185 
Total$— $1,201 $2,185 $3,386 
The level 3 fair value measurements of contingent consideration liabilities include the following significant unobservable inputs:
Fair Value atValuation Unobservable
June 28, 2025TechniqueInputRange
(Dollars in Thousands)
Revenue-based payments$1,102 Monte Carlo Simulation ModelDiscount rate6.0%
Projected fiscal year of payments2026 - 2028
Regulatory-based payment$— Monte Carlo Simulation ModelDiscount rateN/A
Probability of payment0%
Projected fiscal year of paymentN/A
Event-based payment$1,083 Monte Carlo Simulation ModelDiscount rate6.0%
Projected fiscal year of payment2026 - 2028
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation
A reconciliation of the change in the fair value of contingent consideration is included in the following table:
Contingent Consideration
(Dollars in Thousands)
Balance at March 29, 2025
$2,278 
Change in fair value(93)
Balance at June 28, 2025
$2,185