Employee Benefit Plans

3 Months Ended

Jul. 02, 2017

Compensation and Retirement Disclosure [Abstract]

Employee Benefit Plans

Employee Benefit Plans

401(k) Plan

The Company sponsors a 401(k) retirement matching plan for qualified domestic employees.  The Company recorded expenses of approximately $0.8 million and $1.1 million in matching contributions under the plan during the three months ended July 2, 2017 and July 3, 2016, respectively.

Deferred Compensation Plans

Effective November 1, 2000, the Company established an unfunded deferred compensation plan to provide benefits to executive officers and other key employees. Under the plan, participants can defer any portion of their salary and bonus compensation into the plan and may choose from a portfolio of funds from which earnings are measured. Participant balances are always 100% vested. As of July 2, 2017 and April 2, 2017, obligations under the plan totaled approximately $16.2 million and $15.0 million. Additionally, the Company has set aside assets in a separate trust that is invested in corporate owned life insurance intended to substantially fund the liability under the plan. As of July 2, 2017 and April 2, 2017, the deferred compensation plan assets were approximately $16.3 million and $16.0 million respectively.

International Employee Benefit Plans

The Company sponsors defined-benefit pension plans, defined-contribution plans, multi-employer plans and other post-employment benefit plans covering employees in certain of the Company's international locations. As of July 2, 2017 and April 2, 2017, the net liability for all of these international benefit plans totaled $0.9 million and $0.7 million, respectively.