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RETIREMENT PLANS (Tables)
 12 Months Ended
Mar. 28, 2020
Retirement Benefits [Abstract]  
Schedule of Components of Net Periodic Benefit Costs of Defined Benefit Pension Plans
Some of the Company's foreign subsidiaries have defined benefit pension plans covering substantially all full time employees at those subsidiaries. Net periodic benefit costs for the plans in the aggregate include the following components:
(In thousands)
2020
 
2019
 
2018
Service cost
$
1,829

 
$
1,893

 
$
2,651

Interest cost on benefit obligation
301

 
340

 
293

Expected return on plan assets
(178
)
 
(208
)
 
(215
)
Actuarial loss
129

 
132

 
186

Amortization of unrecognized prior service cost
(98
)
 
(86
)
 
(121
)
Plan settlements and curtailments
(239
)
 
(82
)
 
(445
)
Totals
$
1,744

 
$
1,989

 
$
2,349
Schedule of Activity Under Defined Benefit Plans
The activity under those defined benefit plans are as follows:
(In thousands)
March 28,
2020
 
March 30,
2019
Change in Benefit Obligation:
 

 
 

Benefit Obligation, beginning of year
$
(30,637
)
 
$
(30,476
)
Service cost
(1,829
)
 
(1,893
)
Interest cost
(301
)
 
(340
)
Benefits paid
530

 
902

Actuarial gain
285

 
(367
)
Employee and plan participants contribution
(3,447
)
 
(1,815
)
Plan settlements and curtailments
6,612

 
3,069

Foreign currency changes
417

 
283

Benefit obligation, end of year
$
(28,370
)
 
$
(30,637
)
Change in Plan Assets:
 

 
 

Fair value of plan assets, beginning of year
$
16,287

 
$
16,322

Company contributions
1,585

 
1,329

Benefits paid
(433
)
 
(795
)
Gain on plan assets
349

 
265

Employee and plan participants contribution
3,549

 
1,801

Plan settlements
(6,610
)
 
(2,916
)
Foreign currency changes
560

 
281

Fair value of plan assets, end of year
$
15,287

 
$
16,287

Funded Status*
$
(13,083
)
 
$
(14,350
)
Unrecognized net actuarial loss
1,867

 
2,245

Unrecognized prior service cost
(837
)
 
(714
)
Net amount recognized
$
(12,053
)
 
$
(12,819
)
* Substantially all of the unfunded status is non-current
Schedule of Components of Change Recorded in Accumulated Other Comprehensive Income Related to Defined Benefit Plans, Net of Tax
The components of the change recorded in the Company's accumulated other comprehensive loss related to its defined benefit plans, net of tax, are as follows (in thousands):
Balance as of April 1, 2017
$
(2,272
)
Actuarial loss
1,922

Prior service cost
(125
)
Plan settlements and curtailments
152

Balance as of March 31, 2018
$
(323
)
Actuarial loss
(51
)
Prior service cost
(80
)
Plan settlements and curtailments
(73
)
Balance as of March 30, 2019
$
(527
)
Actuarial loss
614

Prior service cost
(87
)
Plan settlements and curtailments
(209
)
Balance as of March 28, 2020
$
(209
)
Schedule of Weighted Average Rates Used to Determine Net Periodic Benefit Costs
The weighted average rates used to determine the net periodic benefit costs and projected benefit obligations were as follows:
 
2020
 
2019
 
2018
Discount rate
0.82
%
 
0.97
%
 
1.07
%
Rate of increased salary levels
1.74
%
 
1.78
%
 
1.73
%
Expected long-term rate of return on assets
0.31
%
 
0.75
%
 
0.90
%


The fair values of shares purchased under the Employee Stock Purchase Plan are estimated using the Black-Scholes single option-pricing model with the following weighted average assumptions:
 
2020
 
2019
 
2018
Volatility
34.7
%
 
30.0
%
 
22.6
%
Expected life (months)
6

 
6

 
6

Risk-free interest rate
2.0
%
 
2.3
%
 
1.2
%
Dividend Yield
0.0
%
 
0.0
%
 
0.0
%

The weighted-average grant-date fair value of RSUs granted and total fair value of RSUs vested are as follows:
 
2020
 
2019
 
2018
Grant-date fair value per RSU
$
102.32

 
$
94.55

 
$
41.87

Fair value of RSUs vested
$
54.58

 
$
40.04

 
$
33.03


The assumptions used in the Monte Carlo model for PSUs granted during each fiscal year were as follows:
 
2020
 
2019
 
2018
Expected stock price volatility
28.64
%
 
27.07
%
 
26.11
%
Peer group stock price volatility
29.77
%
 
34.98
%
 
34.13
%
Correlation of returns
50.30
%
 
47.57
%
 
49.51
%


The weighted-average grant-date fair value of PSUs granted and total fair value of PSUs vested are as follows:
 
2020
 
2019
 
2017
Grant-date fair value per PSU
$
146.93

 
$
115.64

 
$
46.49

Fair value of PSUs vested
$
34.78

 
$
29.20

 
$
—
Schedule of Estimated Future Benefit Payments
Estimated future benefit payments are as follows:
(In thousands)
 

Fiscal 2021
$
1,372

Fiscal 2022
1,526

Fiscal 2023
1,311

Fiscal 2024
1,366

Fiscal 2025
1,207

Fiscal 2026-2030
7,251

 
$
14,033