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Debt and Credit Facility (Tables)

12 Months Ended

Mar. 28, 2020

2021 Notes Payable [Member]

Schedule of Debt Instruments [Line Items]

Schedule of Long-term Debt Instruments [Table Text Block]

The following table summarizes the carrying value of the 2021 Notes in the Company's consolidated balance sheets:



(In thousands)	March 28, 2020			March 30, 2019
Principal amount of the 2021 Notes	$	500,000		$	500,000
Unamortized discount of the 2021 Notes	(517		)	(1,063		)
Unamortized debt issuance costs associated with the 2021 Notes	(223		)	(467		)
Carrying value of the 2021 Notes	$	499,260		$	498,470

Interest Expense Related to Debentures [Table Text Block]

Interest expense related to the 2021 Notes was included in interest and other income (expense), net on the consolidated statements of income as follows:



	Years Ended
(In thousands)	March 28, 2020		March 30, 2019		March 31, 2018
Contractual coupon interest	$	15,000	$	15,000	$	15,000
Amortization of debt issuance costs	244		244		244
Amortization of debt discount, net	546		530		514
Total interest expense related to the 2021 Notes	$	15,790	$	15,774	$	15,758

2024 Notes Payable [Member]

Schedule of Debt Instruments [Line Items]

Schedule of Long-term Debt Instruments [Table Text Block]

The following table summarizes the carrying value of the 2024 Notes in the Company's consolidated balance sheets:



(In thousands)	March 28, 2020			March 30, 2019
Principal amount of the 2024 Notes	$	750,000		$	750,000
Unamortized discount of the 2024 Notes	(525		)	(642		)
Unamortized debt issuance costs associated with the 2024 Notes	(2,365		)	(2,932		)
Carrying value of the 2024 Notes	747,110			746,426
Fair value hedge adjustment - interest rate swap contracts	—			(10,089		)
Net carrying value of the 2024 Notes	$	747,110		$	736,337

Interest Expense Related to Debentures [Table Text Block]

Interest expense related to the 2024 Notes was included in interest and other income (expense), net on the consolidated statements of income as follows:



	Years Ended
(In thousands)	March 28, 2020		March 30, 2019		March 31, 2018
Contractual coupon interest	$	22,873	$	25,875	$	14,122
Amortization of debt issuance costs	567		568		473
Amortization of debt discount	117		113		92
Total interest expense related to the 2024 Notes	$	23,557	$	26,556	$	14,687

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

+ References

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+ Details