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Note 14 - Fair Value of Financial Instruments
9 Months Ended
Dec. 26, 2020
Notes to Financial Statements  
Fair Value Disclosures [Text Block]

14.           Fair Value of Financial Instruments

As required by ASC 825 - Financial Instruments, the Company estimates the fair values of financial instruments on a quarterly basis. The estimated fair value for long-term debt (classified as Level 2 in the fair value hierarchy) is determined by the quoted market prices for similar debt (comparable to the Company’s financial strength) or current rates offered to the Company for debt with the same maturities. Long-term debt, including current portion had a carrying amount of $98,577,000 and an estimated fair value of $99,225,000 as of December 26, 2020. Long-term debt, including current portion had a carrying amount of $225,337,000 and an estimated fair value of $225,287,000 as of December 28, 2019. As of March 31, 2020, the carrying amount was $217,581,000 and the estimated fair value was $217,559,000. The fair values of all the other financial instruments approximate their carrying value due to their short-term nature.