Investments and Fair Value Measurements (Tables)

12 Months Ended

Apr. 01, 2023

Schedule of available-for-sale debt securities

Fair value of the financial assets measured at fair value on a recurring basis

The following table sets forth, by level within the fair value hierarchy, financial assets and liabilities measured on a recurring basis (in thousands):

		Total		Quoted Prices In Active Markets For Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
April 1, 2023
	Marketable equity securities	$	1,094	$	1,094	$	—	$	—
	Invested funds in deferred compensation plan (1)	40,653		40,653		—		—
	Contingent earn-out liability (2)	(31,250)		—		—		(31,250)
April 2, 2022
	Marketable equity securities	$	2,906	$	2,906	$	—	$	—
	Invested funds in deferred compensation plan (1)	39,356		39,356		—		—
	Contingent earn-out liability (2)	(17,600)		—		—		(17,600)

(1) Invested funds under the Company's non-qualified deferred compensation plan are held in a rabbi trust and consist of mutual funds. The fair value of the mutual funds is calculated using the net asset value per share as determined by quoted active market prices of the underlying investments. Refer to Note 10 for further information on the Company's non-qualified deferred compensation plan.

(2) The fair value of the contingent consideration liability which related to the acquisition of United SiC (refer to Note 5) was equal to the maximum amount payable at April 1, 2023 and was estimated using an option pricing model at April 2, 2022.