Postretirement Benefit Plans (Tables)

12 Months Ended

Mar. 31, 2018

The following tables set forth the benefit obligation, the fair value of plan assets, and the funded status of the Scheme (in thousands):



	March 31, 2018			March 25, 2017
Change in benefit obligation:
Beginning balance	$	21,123		$	23,968
Interest cost	651			759
Plan settlements	—			(4,517		)
Benefits paid and expenses	(312		)	(264		)
Change in foreign currency exchange rate	2,869			(2,763		)
Actuarial (gain) / loss	16,270			3,940
Total benefit obligation ending balance	40,601			21,123
Change in plan assets:
Beginning balance	22,143			25,688
Actual return on plan assets	2,700			3,933
Employer contributions	12,877			990
Plan settlements	—			(5,243		)
Change in foreign currency exchange rate	3,193			(2,961		)
Benefits paid and expenses	(312		)	(264		)
Fair value of plan assets ending balance	40,601			22,143
Funded status of Scheme at end of year	$	—		$	1,020

Schedule of Net Benefit Costs

The components of the Company’s net periodic pension expense (income) are as follows (in thousands):



	Fiscal Years Ended
	March 31, 2018			March 25, 2017			March 26, 2016
Expenses	$	—		$	—		$	15
Interest cost	651			759			821
Expected return on plan assets	(1,159		)	(1,126		)	(1,212		)
Settlement (gain) loss	—			1,063			—
Amortization of actuarial (gain) loss	—			(89		)	49
	$	(508	)	$	607		$	(327	)

Schedule of Assumptions

The following weighted-average assumptions were used to determine net periodic benefit costs for the year ended March 31, 2018, March 25, 2017 and March 26, 2016:



	2018		2017		2016
Discount rate	2.70	%	3.60	%	3.20	%
Expected long-term return on plan assets	4.23	%	4.93	%	4.65	%

Schedule of Fair Value of Pension Assets

The table below sets forth the fair value of our plan assets as of March 31, 2018, using the same three-level hierarchy of fair-value inputs described in Note 4 (in thousands):



	Quoted Prices in Active Markets for Identical Assets Level 1		Significant Other Observable Inputs Level 2		Significant Unobservable Inputs Level 3		Total
Plan Assets:
Insurance contracts	$	—	$	40,601	$	—	$	40,601

The table below sets forth the fair value of our plan assets as of 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
Plan Assets:
Cash	$	160	$	—	$	—	$	160
Pension funds	—		21,983		—		21,983
	$	160	$	21,983	$	—	$	22,143

Schedule of Amounts Recognized in Other Comprehensive Income (Loss)

Amounts recognized in accumulated other comprehensive loss for the period that have not yet been recognized as components of net periodic benefit cost consist of (in thousands):



	Fiscal Year
	2018
Net actuarial loss	$	(14,729	)
Accumulated other comprehensive loss, before tax	$	(14,729	)

Schedule of Allocation of Plan Assets

The current mix of the assets is as follows:



	Actual Allocation
	2018		2017
Equity securities	—	%	33	%
Corporate bonds	—	%	48	%
Diversified growth	—	%	19	%
Insurance contracts	100	%	—	%
Total	100	%	100	%