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CASH, CASH EQUIVALENTS, AND INVESTMENTS
 3 Months Ended
Jun. 27, 2020
CASH, CASH EQUIVALENTS AND INVESTMENTS [Abstract]  
CASH, CASH EQUIVALENTS, AND INVESTMENTS CASH, CASH EQUIVALENTS, AND INVESTMENTS

The following tables summarize the Company’s cash, cash equivalents, and investments’ adjusted cost, gross unrealized gains, gross unrealized losses, and fair value by significant investment category recorded as cash and cash equivalents, and short-term investments as of June 27, 2020 and March 28, 2020 (in thousands):
June 27, 2020
 
Amortized
Cost
 
Gross
Unrealized
Gains
 
Gross
Unrealized
Losses
 
Fair
Value
 
Cash & Cash Equivalents
 
Short-term investments
 (due in 1 year or less)
Cash
 
$
199,763

 
$
—

 
$
—

 
$
199,763

 
$
199,763

 
$
—

Level 1:
 
 
 
 
 
 
 
 
 
 
 
 
Mutual Funds
 
13,081

 
360

 
(275
)
 
13,166

 
—

 
13,166

Money Market Funds
 
50,003

 
—

 
—

 
50,003

 
50,003

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Total cash, cash equivalents
and investments measured at fair value
 
$
262,847

 
$
360

 
$
(275
)
 
$
262,932

 
$
249,766

 
$
13,166

March 28, 2020
 
Amortized
Cost
 
Gross
Unrealized
Gains
 
Gross
Unrealized
Losses
 
Fair
Value
 
Cash & Cash Equivalents
 
Short-term investments (due in 1 year or less)
Cash
 
$
213,879

 
$
—

 
$
—

 
$
213,879

 
$
213,879

 
$
—

Level 1:
 
 
 
 
 
 
 
 
 
 
 
 
Mutual Funds
 
12,938

 
31

 
(1,128
)
 
11,841

 
—

 
11,841

 
 
 
 
 
 
 
 
 
 
 
 
 
Total cash, cash equivalents
and investments measured at fair value
 
$
226,817

 
$
31

 
$
(1,128
)
 
$
225,720

 
$
213,879

 
$
11,841



As of June 27, 2020, and March 28, 2020, all of the Company's investments are classified as trading securities and are reported at fair value, with unrealized gains and losses included in current period earnings. For more information regarding the Company's deferred compensation plan, see Note 4, Deferred Compensation.

The Company did not incur any material realized or unrealized gains or losses in the three months ended June 27, 2020, and June 29, 2019.

There were no transfers between fair value measurement levels during the three months ended June 27, 2020, and June 29, 2019.

All financial assets and liabilities are recognized or disclosed at fair value in the financial statements. Fair value is estimated by applying the following hierarchy, which prioritizes the inputs used to measure fair value into three levels and bases the categorization within the hierarchy upon the lowest level of input that is available and significant to the fair value measurement:

Level 1
The Company's Level 1 financial assets consist of Mutual Funds. The fair value of Level 1 financial instruments is measured based on the quoted market price of identical securities.

Level 2
The Company's Level 2 financial assets and liabilities consist of derivative foreign currency contracts, an interest rate swap, a term loan facility, and 5.50% Senior Notes. The fair value of the Level 2 derivative foreign currency contracts and interest rate swap are determined using pricing models that use observable market inputs. For more information regarding the Company's derivative assets and liabilities, see Note 13, Derivatives. The fair value of the Level 2 5.50% Senior Notes and term loan facility are determined based on inputs that were observable in the market, including the trading price of the notes when available. For more information regarding the Company's 5.50% Senior Notes and term loan facility, see Note 8, Debt.

Level 3
The Company's revolving credit facility falls under the Level 3 hierarchy. The fair value of the Level 3 revolving credit facility is determined based on inputs that were unobservable in the market. For more information regarding the Company's debt, refer to Note 8, Debt.