FAIR VALUE MEASUREMENT OF ASSETS AND LIABILITIES (Tables)

6 Months Ended

Sep. 29, 2017

Schedule of business acquisitions by acquisition, contingent consideration

The following table summarizes the activities related to contingent consideration payable for historic acquisitions:



	Three-Month Periods Ended					Six-Month Periods Ended
	September 29, 2017		September 30, 2016			September 29, 2017			September 30, 2016
	(In thousands)
Beginning balance	$	15,426	$	75,258		$	22,426		$	73,423
Additions to accrual	—		—			—			—
Payments	—		(2,221		)	—			(2,221		)
Fair value adjustments	1,916		2,577			(5,084		)	4,412
Ending balance	$	17,342	$	75,614		$	17,342		$	75,614

Schedule of financial assets and liabilities measured at fair value on a recurring basis

The following table presents the Company’s assets and liabilities measured at fair value on a recurring basis:



	Fair Value Measurements as of September 29, 2017
	Level 1		Level 2			Level 3			Total
	(In thousands)
Assets:
Money market funds and time deposits (included in cash and cash equivalents of the condensed consolidated balance sheet)	$	—	$	593,539		$	—		$	593,539
Deferred purchase price receivable (Note 10)	—		—			487,186			487,186
Foreign exchange contracts (Note 8)	—		36,573			—			36,573
Deferred compensation plan assets:									0
Mutual funds, money market accounts and equity securities	6,829		63,395			—			70,224
Liabilities:									0
Foreign exchange contracts (Note 8)	$	—	$	(33,468	)	$	—		$	(33,468	)
Contingent consideration in connection with business acquisitions	—		—			(17,342		)	(17,342		)

	Fair Value Measurements as of March 31, 2017
	Level 1		Level 2			Level 3			Total
	(In thousands)
Assets:
Money market funds and time deposits (included in cash and cash equivalents of the condensed consolidated balance sheet)	$	—	$	1,066,841		$	—		$	1,066,841
Deferred purchase price receivable (Note 10)	—		—			506,522			506,522
Foreign exchange contracts (Note 8)	—		22,022			—			22,022
Deferred compensation plan assets:									0
Mutual funds, money market accounts and equity securities	7,062		52,680			—			59,742
Liabilities:									0
Foreign exchange contracts (Note 8)	$	—	$	(11,742	)	$	—		$	(11,742	)
Contingent consideration in connection with business acquisitions	—		—			(22,426		)	(22,426		)

Schedule of debt not carried at fair value

The following table presents the Company’s major debts not carried at fair value:



	As of September 29, 2017				As of March 31, 2017
	Carrying Amount		Fair Value		Carrying Amount		Fair Value		Fair Value Hierarchy
	(In thousands)
4.625% Notes due February 2020	$	500,000	$	523,360	$	500,000	$	526,255	Level 1
Term Loan, including current portion, due in installments through November 2021	700,000		700,441		700,000		699,566		Level 1
Term Loan, including current portion, due in installments through June 2022 (1)	496,219		496,532		502,500		503,756		Level 1
5.000% Notes due February 2023	500,000		543,685		500,000		534,820		Level 1
4.750% Notes due June 2025	596,180		650,490		595,979		633,114		Level 1
Euro Term Loan due September 2020	57,359		57,359		53,075		53,075		Level 1
Euro Term Loan due January 2022	117,660		117,660		107,357		107,357		Level 1
Total	$	2,967,418	$	3,089,527	$	2,958,911	$	3,057,943

(1) On June 30, 2017, the Company entered into a new agreement that effectively extended the maturity date of the loan from March 31, 2019 to June 30, 2022. Refer to note 6 for further details of the arrangement.