ACQUISITION (Tables)

9 Months Ended

Jan. 01, 2022

Business Combinations [Abstract]

Schedule of Business Acquisitions, by Acquisition

The purchase price of $442.3 million, net of $47.3 million of cash acquired, consisted of the amounts presented below, which represent the preliminary determination of the fair value of the identifiable assets acquired and liabilities assumed:

(In thousands)	March 1, 2021
Accounts receivable	$	7,304
Inventories	18,765
Prepaid expenses and other current assets	850
Property, plant and equipment	1,186
Intangible assets	250,560
Goodwill	253,966
Other long-term assets	1,868
Total assets acquired	$	534,499
Accounts payable	3,292
Accrued payroll and related costs	58,211
Other liabilities	1,853
Deferred tax liability	27,102
Other long-term liabilities	1,772
Total liabilities assumed	$	92,230
Net assets acquired	$	442,269

The following amounts represent the determination of the fair value of the identifiable assets acquired and liabilities assumed for enicor completed during fiscal 2021:

(In thousands)	April 1, 2020
Inventory	$	634
Other current assets	685
Property, plant and equipment	289
Intangible assets	14,090
Goodwill	8,153
Total assets acquired	$	23,851
Other current liabilities	289
Deferred tax liability	3,036
Total liabilities assumed	$	3,325
Net assets acquired	$	20,526

Intangible assets acquired consist of the following:

(In thousands)	Amount		Weighted-Average Amortization Period	Risk-Adjusted Discount Rates used in Purchase Price Allocation
Completed technology	$	13,441	10 Years	20	%
Customer relationships	347		10 Years	20	%
Trademark	302		10 Years	20	%
Total	$	14,090

Schedule of Acquired Finite-Lived Intangible Assets by Major Class

Intangible assets acquired consist of the following:

(In thousands)	Amount		Weighted-Average Amortization Period	Risk-Adjusted Discount Rates used in Purchase Price Allocation
Completed technology	$	213,290	13 years	13.5	%
Customer relationships	18,166		12 years	13.0	%
Trademarks	5,437		13 years	13.5	%
IPR&D	13,667		Indefinite	15.0	%
Total	$	250,560