Fair Value Measurement (Tables)

9 Months Ended

Dec. 30, 2012

Financial Assets and Liabilities Measured at Fair Value on a Recurring Basis

The following table summarizes the Company’s financial assets and liabilities measured at fair value on a recurring basis as of December 30, 2012:



	Fair Value at Reporting Date Using:
(in thousands)	Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Total Balance
Cash Equivalents and Short-Term investments:
US government treasuries and agencies securities	$	148,879	$	—	$	—	$	148,879
Money market funds	61,894		—		—		61,894
Corporate bonds	—		13,228		—		13,228
International government bonds	—		3,084		—		3,084
Corporate commercial paper	—		1,000		—		1,000
Bank deposits	—		15,211		—		15,211
Total assets measured at fair value	$	210,773	$	32,523	$	—	$	243,296
Liabilities:
Fair value of contingent consideration	—		—		6,400		6,400
Fair value of pension liabilities	—		—		895		895
Total liabilities measured at fair value	$	—	$	—	$	7,295	$	7,295

The following table summarizes the Company’s financial assets and liabilities measured at fair value on a recurring basis as of April 1, 2012:



	Fair Value at Reporting Date Using
(in thousands)	Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Total
Cash Equivalents and Short-Term investments:
US government treasuries and agencies securities	$	156,315	$	—	$	—	$	156,315
Money market funds	104,596		—		—		104,596
Corporate bonds	—		21,538		—		21,538
International government bonds	—		4,648		—		4,648
Corporate commercial paper	—		3,148		—		3,148
Bank deposits	—		11,633		—		11,633
Municipal bonds	—		653		—		653
Total assets measured at fair value	$	260,911	$	41,620	$	—	$	302,531

Change in Fair Value of Contingent Consideration Measured Using Level 3 Inputs

The following table summarizes the change in the fair value of the contingent consideration measured using significant unobservable inputs (Level 3) for the nine months ended December 30, 2012:



(in thousands)	Estimated Fair Value
Balance as of April 1, 2012	$	—
Additions	7,295
Deletions	—
Balance as of December 30, 2012	$	7,295

- Definition

Tabular disclosure of the fair value measurement of liabilities using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes during the period attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets), and gains or losses recognized in other comprehensive income and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issuances, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs) by class of liability.

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