v3.26.1
Defined Benefit and Defined Contribution Plans (Tables)
12 Months Ended
Mar. 28, 2026
Defined Benefit and Defined Contribution Plans [Abstract]  
Funded Status

Funded Status

(thousands)

2026

2025

Projected benefit obligations

$

15,395

$

15,859

Fair value of plan assets

16,777

16,640

Overfunded status

$

1,382

$

781

Estimated Future Pension Benefit Payments

Estimated Future Benefit Payments

(thousands)

Pension Benefits

2027

$

1,204

2028

1,213

2029

1,241

2030

1,256

2031

1,258

2032 - 2036

6,045

Components of Net Pension Benefits Expense

Net Pension Benefits Expense

(thousands)

2026

2025

2024

Interest cost on projected benefit obligation

$

808

$

815

$

812

Expected return on plan assets

(873)

(910)

(818)

Amortization of unrecognized actuarial loss

146

138

192

Total

$

81

$

43

$

186

Weighted Average Assumptions Used to Determine Benefit Obligations

Benefit Obligation Weighted Average Assumption

2026

2025

Discount rate

5.46

%

5.39

%

Weighted Average Assumptions Used to Determine Net Periodic Pension Costs

Net Periodic Benefit Expense Weighted Average Assumptions

2026

2025

2024

Discount rate

5.39

%

5.22

%

4.94

%

Expected long-term rate of return on plan assets

5.50

%

5.50

%

5.00

%

Changes in Projected Benefit Obligations and Plan Assets

Benefit Obligation

Change in Projected Benefit Obligation

(thousands)

2026

2025

Benefit obligation at beginning of year

$

15,859

$

16,489

Interest cost

808

815

Actuarial gain

(178)

(371)

Benefits paid

(1,094)

(1,074)

Benefit obligation at end of year (a)

$

15,395

$

15,859

(a) Accumulated benefit obligation-the present value of benefits earned to date assuming no future salary growth-is materially consistent with the projected benefit obligation in each period presented.

Plan Assets

Change in Plan Assets

(thousands)

2026

2025

Fair value of plan assets at beginning of year

$

16,640

$

17,272

Actual gain on plan assets

1,231

442

Benefits paid

(1,094)

(1,074)

Fair value of plan assets at end of year

$

16,777

$

16,640

Company's Asset Allocations by Asset Category

Asset Category

Current Targeted

Actual Allocation

Allocation

2026

2025

Cash and cash equivalents

1.0

%

1.0

%

Fixed income

70.0

%

73.0

%

70.3

%

Equity securities

30.0

%

26.0

%

28.7

%

Total

100.0

%

100.0

%

100.0

%

Fair Value Measurement Information for the Company's Major Categories of Defined Benefit Plan Assets

Fair Value Measurements

Fair Value at

(thousands)

Pricing Category (a)

March 28, 2026

March 29, 2025

Assets in the fair value hierarchy

Shares of registered investment companies

Level 1

$

9,345

$

9,589

Total assets in the fair value hierarchy

9,345

9,589

Common collective trusts (b)

7,271

6,885

Pooled separate accounts (b)

161

166

Total plan assets

$

16,777

$

16,640

(a) Fair value measurements are reported in one of three levels based on the lowest level of significant input used: Level 1 (unadjusted quoted prices in active markets); Level 2 (observable market inputs, other than quoted prices included in Level 1); and Level 3 (unobservable inputs that cannot be corroborated by observable market data). The fair value amounts presented in this table are intended to permit reconciliation of the assets in the fair value hierarchy to total plan assets at end of year.

(b) Certain investments measured at net asset value as a practical expedient have not been classified in the fair value hierarchy. The fair values presented are intended to permit reconciliation of the total assets in the fair value hierarchy to the total plan assets.

Amounts Recognized in Accumulated Other Comprehensive Loss

Amounts in Accumulated Other Comprehensive Loss

(thousands)

2026

2025

Unamortized net actuarial loss

$

3,847

$

4,530

Amounts in Accumulated Other Comprehensive Loss (a)

$

3,847

$

4,530

(a) $2,915 and $3,421, net of tax, at the end of 2026 and 2025, respectively.
Changes in Plan Assets and Benefit Obligations Recognized in Other Comprehensive (Loss) Income

Amounts in Other Comprehensive Income

(thousands)

2026

2025

2024

Net actuarial income

$

683

$

41

$

897

Amounts in Other Comprehensive Income (a)

$

683

$

41

$

897

(a) $506, $30 and $664, net of tax, during 2026, 2025 and 2024, respectively.