Note 11 - Fair Value of Financial Instruments

9 Months Ended

Dec. 28, 2024

Notes to Financial Statements

Fair Value Disclosures [Text Block]

11. Fair Value of Financial Instruments

Cash and cash equivalents, restricted cash, accounts receivable, accounts payable, and accrued expenses are reflected in the condensed consolidated balance sheets at carrying value, which approximates fair value due to the short-term maturity of these instruments.

On a quarterly basis, the Company estimates the fair values for financial instruments that are recorded at carrying value on the condensed consolidated balance sheets. The estimated fair value for long-term debt and finance obligation (classified as Level 2 in the fair value hierarchy) is determined by the quoted market prices for similar debt (comparable to the Company’s financial strength) or current rates offered to the Company for debt with the same maturities. The fair value and carrying value of the Company’s long-term debt and finance obligation are as follows (in thousands):

	As of:
	December 28,		December 30,		March 31,
	2024		2023		2024
Carrying value	$	416,184	$	630,563	$	604,786
Fair value	$	409,061	$	624,896	$	599,408