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DEBT
6 Months Ended
Oct. 01, 2016
Debt Disclosure [Abstract]  
DEBT
DEBT

On August 1, 2012, we entered into a credit agreement ("Credit Agreement") with certain lenders (together, “Lenders”) which provided for a $475.0 million Term Loan and a $50.0 million revolving loan (the “Revolving Credit Facility”), and together with the Term Loan, (the “Credit Facilities”). The Credit Facilities had a term of five years and mature on August 1, 2017. Interest was based on the Adjusted LIBOR plus a range of 1.125% to 1.500% depending on achievement of leverage ratios and customary credit terms which included financial and negative covenants.

On June 30, 2014, we modified our existing Credit Facilities by extending the maturity date to July 1, 2019, extending the principal repayments of the Term Loan, and modifying certain restrictive covenants to allow greater operational flexibility and enhanced near term liquidity. In addition, the amended Credit Agreement provides for a $100.0 million revolving credit facility and establishes interest rates in the range of LIBOR plus 1.125%1.500%, depending on certain conditions. No additional amounts were borrowed as a result of this modification. The fair value of debt approximates its current value of $389.0 million as of October 1, 2016. During the three and six months ended October 1, 2016, we paid $11.9 million and $19.0 million in principal repayments, respectively, for the Term Loan. In addition, on October 31, 2016, we reduced our borrowings on the Revolving Credit Facility by $20.0 million as part of our normal cash management process. We were in compliance with the leverage and interest coverage ratios specified in the Credit Agreement as well as all other bank covenants as of October 1, 2016.