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Derivative Financial Instruments
 12 Months Ended
Mar. 30, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Derivative Financial Instruments Derivative Financial Instruments
Foreign Currency Forward Contracts
The Company uses foreign currency forward contracts to reduce the earnings impact that exchange rate fluctuations have on non-functional currency balance sheet exposures. The Company recognizes both the gains and losses on foreign currency forward contracts and the gains and losses on the remeasurement of non-functional currency assets and liabilities within "Other income (expense)" in the consolidated statements of income. The Company does not apply hedge accounting to these foreign currency derivative instruments.
As of March 30, 2024, the Company held one foreign currency forward contract denominated in British Pound Sterling with a notional value of $4.3 million. The fair value of this contract was not material as of March 30, 2024.
The before-tax effect of derivative instruments not designated as hedging instruments was as follows (in thousands):
Fiscal Years Ended
March 30, 2024March 25, 2023March 26, 2022Location
Loss recognized in income
Foreign currency forward contracts$(431)$(564)$(283)Other income (expense)