Fair Value of Financial Instruments (Tables)

12 Months Ended

Mar. 31, 2018

Fair Value Disclosures [Abstract]

Schedule of Fair Value of Financial Assets and Liabilities

The following summarizes the fair value of our financial instruments, exclusive of pension plan assets detailed in Note 8, at March 31, 2018 (in thousands):

	Quoted Prices in Active Markets for Identical Assets Level 1		Significant Other Observable Inputs Level 2		Significant Unobservable Inputs Level 3		Total
Assets:
Cash equivalents
Money market funds	$	211,891	$	—	$	—	$	211,891
Available-for-sale securities
Corporate debt securities	$	—	$	183,322	$	—	$	183,322
Non-US government securities	—		14,619		—		14,619
Certificates of deposit	—		500		—		500
Agency discount notes	—		455		—		455
	$	—	$	198,896	$	—	$	198,896

The following summarizes the fair value of our financial instruments at March 25, 2017 (in thousands):

	Quoted Prices in Active Markets for Identical Assets Level 1		Significant Other Observable Inputs Level 2		Significant Unobservable Inputs Level 3		Total
Assets:
Cash equivalents
Money market funds	$	313,982	$	—	$	—	$	313,982
Available-for-sale securities
Corporate debt securities	$	—	$	33,330	$	—	$	33,330
Commercial paper	—		66,483		—		66,483
	$	—	$	99,813	$	—	$	99,813
Liabilities:
Other accrued liabilities
Contingent consideration — short-term	$	—	$	—	$	4,695	$	4,695

Schedule of Fair Value of Financial Instruments Contingent Consideration

The following summarizes the fair value of the contingent consideration at March 31, 2018:

	Maximum Value if Milestones Achieved (in thousands)	Estimated Discount Rate (%)	Fair Value (in thousands)
Tranche A — 18 month earn out period	5,000	7.0	—
Tranche B — 30 month earn out period	5,000	7.7	—

Schedule of Fair Value of Contingent Consideration Rollforward

	Fiscal Year Ended
	March 31, 2018			March 25, 2017
	(in thousands)
Beginning balance	$	4,695		$	9,068
Adjustment to estimates (research and development expense)	(4,328		)	(3,579		)
Payout of Tranche A contingent consideration	—			(1,213		)
Payout of Tranche B contingent consideration	(392		)	—
Fair value charge recognized in earnings (research and development expense)	25			419
Ending balance	$	—		$	4,695