Quarterly report pursuant to Section 13 or 15(d)

FAIR VALUE MEASUREMENTS (Tables)

v3.21.4
FAIR VALUE MEASUREMENTS (Tables)
9 Months Ended
Jan. 01, 2022
Fair Value Disclosures [Abstract]  
Classes of Financial Assets and Financial Liabilities Measured and Recorded at Fair Value on Recurring Basis
The following table summarizes financial assets and financial liabilities that are measured and recorded in the consolidated financial statements at fair value on a recurring basis:
  Total Fair Value
Fair Value Measurement Using (a)
(In thousands) Level 1 Level 2 Level 3
December 2021
Financial assets:
Cash equivalents:
Money market funds $ 346,657  $ 346,657  $ —  $ — 
Time deposits 305,576  305,576  —  — 
Derivative financial instruments 57,466  —  57,466  — 
Deferred compensation 139,551  139,551  —  — 
Financial liabilities:
Derivative financial instruments 32,987  —  32,987  — 
Deferred compensation 145,399  —  145,399  — 
Contingent consideration 49,000  —  —  49,000 
Total Fair Value
Fair Value Measurement Using (a)
(In thousands) Level 1 Level 2 Level 3
March 2021
Financial assets:
Cash equivalents:
Money market funds $ 216,591  $ 216,591  $ —  $ — 
Time deposits 102,914  102,914  —  — 
Short-term investments 598,806  598,806  —  — 
Derivative financial instruments 13,257  —  13,257  — 
Deferred compensation 141,072  141,072  —  — 
Financial liabilities:
Derivative financial instruments 74,255  —  74,255  — 
Deferred compensation 150,713  —  150,713  — 
Contingent consideration 207,000  —  —  207,000 
(a)There were no transfers among the levels within the fair value hierarchy during the nine months ended December 2021 or the year ended March 2021.
Schedule of Contingent Consideration Liability Designated as Level 3
The following table presents the changes in fair value of the contingent consideration liability designated as Level 3:
(In thousands) Three Months Ended December 2021 Nine Months Ended December 2021
Beginning Balance $ 99,000  $ 207,000 
Change in fair value (50,000) (158,000)
Ending Balance $ 49,000  $ 49,000