FAIR VALUE MEASUREMENTS (Tables)

12 Months Ended

Apr. 02, 2022

Fair Value Measurements, Recurring and Nonrecurring

The following tables summarize the carrying value and fair value of the Company's cash and cash equivalents, short-term investments, derivative instruments and long-term debt as of April 2, 2022 and April 3, 2021:


	Carrying Value at April 2, 2022		Fair Value at April 2, 2022 Using Inputs Considered as:
(in thousands)			Level 1		Level 2		Level 3
Assets:
Cash and cash equivalents	$	170,000	$	170,000	$	—	$	—
Short-term investments	13,703		13,703		—		—
Derivative instruments	31,891		—		31,891		—

Liabilities:
Derivative instruments	$	1,828	$	—	$	1,828	$	—
Long-term debt	1,500,283		—		1,521,562		—


	Carrying Value at April 3, 2021		Fair Value at April 3, 2021 Using Inputs Considered as:
(in thousands)			Level 1		Level 2		Level 3
Assets:
Cash and cash equivalents	$	202,560	$	202,560	$	—	$	—
Restricted cash	493,908		493,908		—		—
Short-term investments	14,559		14,559		—		—
Derivative instruments	5,106		—		5,106		—

Liabilities:
Derivative instruments	$	11,802	$	—	$	11,802	$	—
Current portion of long-term debt	478,807		—		482,669		—
Long-term debt	1,496,064		—		1,497,323		—

- Definition

Tabular disclosure of financial instruments measured at fair value, including those classified in shareholders' equity measured on a recurring or nonrecurring basis. Disclosures include, but are not limited to, fair value measurements recorded and the reasons for the measurements, level within the fair value hierarchy in which the fair value measurements are categorized and transfers between levels 1 and 2. Nonrecurring fair value measurements are those that are required or permitted in the statement of financial position in particular circumstances.

+ References + Details