0000866291-22-000008 | 10-Q | XBRL Viewer

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CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 24, 2021	Mar. 26, 2021
Current assets:
Cash and cash equivalents	$ 259,208	$ 197,214
Restricted cash	7,497	6,661
Trade accounts receivable, net of provision for expected credit losses of $70 at December 24, 2021 and allowance for doubtful accounts of $138 at March 26, 2021	76,235	69,500
Trade and other accounts receivable due from related party	28,305	23,832
Accounts receivable – other	1,485	1,516
Inventories	78,858	87,498
Prepaid expenses and other current assets	16,198	18,374
Current portion of related party note receivable	1,406	0
Assets held for sale	0	25,969
Total current assets	469,192	430,564
Property, plant and equipment, net	207,705	192,393
Operating lease right-of-use assets	15,922	0
Deferred income tax assets	20,942	26,972
Goodwill	20,043	20,106
Intangible assets, net	35,985	36,366
Related party note receivable, less current portion	6,094	0
Equity investment in related party	27,456	26,664
Other assets, net	48,078	14,613
Total assets	851,417	747,678
Current liabilities:
Trade accounts payable	34,189	35,389
Amounts due to related party	4,051	2,353
Accrued expenses and other current liabilities	59,262	78,932
Current portion of operating lease liabilities	3,339	0
Total current liabilities	100,841	116,674
Obligations due under Senior Secured Credit Facilities	25,000	25,000
Operating lease liabilities, less current portion	12,907	0
Other long-term liabilities	16,830	19,133
Total liabilities	155,578	160,807
Commitments and contingencies (Note 16)
Stockholders’ Equity:
Preferred Stock, $0.01 par value; 20,000,000 shares authorized, no shares issued or outstanding at December 24, 2021 and March 26, 2021	0	0
Common stock, $0.01 par value; 1,000,000,000 shares authorized, 189,797,145 shares issued and outstanding at December 24, 2021; 1,000,000,000 shares authorized, 189,588,161 issued and outstanding at March 26, 2021	1,898	1,896
Additional paid-in capital	612,106	592,170
Retained earnings	97,342	3,551
Accumulated other comprehensive loss	(16,677)	(11,865)
Equity attributable to Allegro MicroSystems, Inc.	694,669	585,752
Non-controlling interests	1,170	1,119
Total stockholders’ equity	695,839	586,871
Total liabilities, non-controlling interest and stockholders’ equity	$ 851,417	$ 747,678

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Dec. 24, 2021	Mar. 26, 2021
Statement of Financial Position [Abstract]
Allowances for doubtful accounts	$ 70	$ 138
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized (in shares)	20,000,000	20,000,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	1,000,000,000	1,000,000,000
Common stock, shares issued (in shares)	189,797,145	189,588,161
Common stock, shares outstanding (in shares)	189,797,145	189,588,161

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 24, 2021	Dec. 25, 2020	Dec. 24, 2021	Dec. 25, 2020
Net sales	$ 186,629	$ 164,449	$ 568,381	$ 416,099
Cost of goods sold	85,464	90,024	270,524	224,203
Gross profit	101,165	74,425	297,857	191,896
Operating expenses:
Research and development	30,297	30,999	89,441	80,509
Selling, general and administrative	37,963	67,650	104,115	118,677
Change in fair value of contingent consideration	(2,700)	0	(2,100)	0
Total operating expenses	65,560	98,649	191,456	199,186
Operating income (loss)	35,605	(24,224)	106,401	(7,290)
Other income (expense):
Loss on debt extinguishment	0	(9,055)	0	(9,055)
Interest expense, net	(269)	(2,598)	(1,764)	(1,935)
Foreign currency transaction loss	(3)	(145)	(55)	(1,331)
Income in earnings of equity investment	287	949	792	1,407
Other, net	3,634	(510)	5,216	(297)
Income (loss) before income tax provision (benefit)	39,254	(35,583)	110,590	(18,501)
Income tax provision (benefit)	6,281	(30,523)	16,687	(27,913)
Net income (loss)	32,973	(5,060)	93,903	9,412
Net income attributable to non-controlling interests	37	35	112	103
Net income (loss) attributable to Allegro MicroSystems, Inc.	$ 32,936	$ (5,095)	$ 93,791	$ 9,309
Net income (loss) attributable to Allegro MicroSystems, Inc. per share (Note 17):
Basic (in dollars per share)	$ 0.17	$ (0.04)	$ 0.49	$ 0.19
Diluted (in dollars per share)	$ 0.17	$ (0.04)	$ 0.49	$ 0.05
Weighted average shares outstanding:
Basic (in shares)	189,736,901	124,363,078	189,665,324	48,121,026
Diluted (in shares)	192,068,222	124,363,078	191,678,951	171,638,787
Non-Related Party Revenue
Net sales	$ 147,168	$ 138,010	$ 456,302	$ 343,529
Related Party Revenue
Net sales	$ 39,461	$ 26,439	$ 112,079	$ 72,570

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 24, 2021	Dec. 25, 2020	Dec. 24, 2021	Dec. 25, 2020
Statement of Comprehensive Income [Abstract]
Net income (loss)	$ 32,973	$ (5,060)	$ 93,903	$ 9,412
Net income attributable to non-controlling interests	37	35	112	103
Net income (loss) attributable to Allegro MicroSystems, Inc.	32,936	(5,095)	93,791	9,309
Other comprehensive (loss) income:
Foreign currency translation adjustment	(1,306)	3,972	(4,873)	10,152
Net actuarial loss amortization of net transition obligation and prior service costs related to defined benefit plans, net of tax	0	0	0	(313)
Comprehensive income (loss)	31,630	(1,123)	88,918	19,148
Other comprehensive (income) loss attributable to non-controlling interest	(3)	(10)	61	(34)
Comprehensive income (loss) attributable to Allegro MicroSystems, Inc.	$ 31,627	$ (1,133)	$ 88,979	$ 19,114

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY - USD ($) $ in Thousands	Total	Common Stock	Additional Paid-In Capital	Retained Earnings	Accumulated Other Comprehensive Loss	Non-Controlling Interests	Common Class A Common Stock	Common Class L Common Stock
Beginning balance (in shares) at Mar. 27, 2020		0					10,000,000	622,470
Beginning balance at Mar. 27, 2020	$ 634,132	$ 0	$ 458,697	$ 194,355	$ (19,976)	$ 950	$ 100	$ 6
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	9,412			9,309		103
Issuance of common stock (in shares)		25,000,000						15,828
Issuance of common stock	321,425	$ 250	321,175
Capitalization changes related to organizational structure of affiliates and direct and indirect interests in subsidiaries	(19,165)		(19,165)
Stock-based compensation	46,901		46,901
Conversion of Class A and Class L common stock into common stock in connection with the IPO (in shares)		166,500,000					(10,000,000)	(636,301)
Conversion of Class A and Class L common stock into common stock in connection with the IPO		$ 1,665	(1,559)				$ (100)	$ (6)
Repurchase of Class A and Class L common stock to cover related taxes (in shares)		(2,068,274)						(1,997)
Repurchase of Class A and Class L common stock to cover related taxes	(27,707)	$ (21)	(27,686)
Conversion of LTCIP/TRIP awards into restricted stock units in connection with the IPO	2,081		2,081
Cash dividend paid to holders of Class A common stock	(400,000)		(191,242)	(208,758)
Foreign currency translation adjustment	10,152				10,118	34
Net actuarial loss amortization of net transition obligation and prior service costs related to defined benefit plans, net of tax	313				313
Ending balance (in shares) at Dec. 25, 2020		189,431,726					0	0
Ending balance at Dec. 25, 2020	576,918	$ 1,894	589,202	(5,094)	(10,171)	1,087	$ 0	$ 0
Beginning balance (in shares) at Sep. 25, 2020		0					10,000,000	638,298
Beginning balance at Sep. 25, 2020	635,506	$ 0	439,732	208,759	(14,133)	1,042	$ 100	$ 6
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	(5,060)			(5,095)		35
Issuance of common stock (in shares)		25,000,000
Issuance of common stock	321,425	$ 250	321,175
Capitalization changes related to organizational structure of affiliates and direct and indirect interests in subsidiaries	527		527
Reclassification of certain class L shares	298		298
Stock-based compensation	45,876		45,876
Conversion of Class A and Class L common stock into common stock in connection with the IPO (in shares)		166,500,000					(10,000,000)	(636,301)
Conversion of Class A and Class L common stock into common stock in connection with the IPO		$ 1,665	(1,559)				$ (100)	$ (6)
Repurchase of Class A and Class L common stock to cover related taxes (in shares)		(2,068,274)						(1,997)
Repurchase of Class A and Class L common stock to cover related taxes	(27,707)	$ (21)	(27,686)
Conversion of LTCIP/TRIP awards into restricted stock units in connection with the IPO	2,081		2,081
Cash dividend paid to holders of Class A common stock	(400,000)		(191,242)	(208,758)
Foreign currency translation adjustment	3,972				3,962	10
Net actuarial loss amortization of net transition obligation and prior service costs related to defined benefit plans, net of tax	0
Ending balance (in shares) at Dec. 25, 2020		189,431,726					0	0
Ending balance at Dec. 25, 2020	$ 576,918	$ 1,894	589,202	(5,094)	(10,171)	1,087	$ 0	$ 0
Beginning balance (in shares) at Mar. 26, 2021	189,588,161	189,588,161
Beginning balance at Mar. 26, 2021	$ 586,871	$ 1,896	592,170	3,551	(11,865)	1,119
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	93,903			93,791		112
Employee stock purchase plan issuances (in shares)		59,563
Employee stock purchase plan issuances	1,291		1,291
Stock-based compensation, net of forfeitures (in shares)		149,421
Stock-based compensation, net of forfeitures	18,647	$ 2	18,645
Foreign currency translation adjustment	(4,873)				(4,812)	(61)
Net actuarial loss amortization of net transition obligation and prior service costs related to defined benefit plans, net of tax	$ 0
Ending balance (in shares) at Dec. 24, 2021	189,797,145	189,797,145
Ending balance at Dec. 24, 2021	$ 695,839	$ 1,898	612,106	97,342	(16,677)	1,170
Beginning balance (in shares) at Sep. 24, 2021		189,702,550
Beginning balance at Sep. 24, 2021	656,553	$ 1,897	604,488	64,406	(15,368)	1,130
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	32,973			32,936		37
Stock-based compensation, net of forfeitures (in shares)		94,595
Stock-based compensation, net of forfeitures	7,619	$ 1	7,618
Foreign currency translation adjustment	(1,306)				(1,309)	3
Net actuarial loss amortization of net transition obligation and prior service costs related to defined benefit plans, net of tax	$ 0
Ending balance (in shares) at Dec. 24, 2021	189,797,145	189,797,145
Ending balance at Dec. 24, 2021	$ 695,839	$ 1,898	$ 612,106	$ 97,342	$ (16,677)	$ 1,170

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	9 Months Ended
	Dec. 24, 2021	Dec. 25, 2020
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income	$ 93,903	$ 9,412
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	36,522	36,225
Amortization of deferred financing costs	75	226
Deferred income taxes	(3,061)	(17,526)
Stock-based compensation	18,647	46,901
(Gain) loss on disposal of assets	(349)	272
Loss on debt extinguishment	0	9,055
Gain on contingent consideration change in fair value	(2,100)	0
Provisions for inventory and credit losses/bad debt	4,787	3,857
Unrealized gains on marketable securities	(4,482)	0
Changes in operating assets and liabilities:
Trade accounts receivable	(6,133)	(5,975)
Accounts receivable - other	(9)	115
Inventories	3,251	1,118
Prepaid expenses and other assets	(11,870)	(29,655)
Trade accounts payable	2,026	2,411
Due to/from related parties	(2,775)	8,283
Accrued expenses and other current and long-term liabilities	(9,874)	(1,185)
Net cash provided by operating activities	118,558	63,534
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchases of property, plant and equipment	(55,792)	(25,880)
Acquisition of business, net of cash acquired	(12,549)	(8,500)
Proceeds from sales of property, plant and equipment	27,407	314
Investments in marketable securities	(9,189)	0
Contribution of cash balances due to divestiture of subsidiary	0	(16,335)
Net cash used in investing activities	(50,123)	(50,401)
CASH FLOWS FROM FINANCING ACTIVITIES:
Related party note receivable	(7,500)
Related party note receivable		51,377
Proceeds from initial public offering, net of underwriting discounts and other offering costs	0	321,425
Payments for taxes related to net share settlement of equity awards	0	(27,707)
Proceeds from issuance of common stock under employee stock purchase plan	1,291	0
Dividends paid	0	(400,000)
Borrowings of senior secured debt, net of deferred financing costs	0	315,719
Repayment of senior secured debt	0	(300,000)
Repayment of unsecured credit facilities	0	(33,000)
Net cash used in financing activities	(6,209)	(72,186)
Effect of exchange rate changes on Cash and cash equivalents and Restricted cash	604	3,350
Net increase in Cash and cash equivalents and Restricted cash	62,830	(55,703)
Cash and cash equivalents and Restricted cash at beginning of period	203,875	219,876
CASH AND CASH EQUIVALENTS AND RESTRICTED CASH AT END OF PERIOD:	266,705	164,173
RECONCILIATION OF CASH AND CASH EQUIVALENTS AND RESTRICTED CASH:
Cash and cash equivalents at beginning of period	197,214	214,491
Restricted cash at beginning of period	6,661	5,385
Cash and cash equivalents and Restricted cash at beginning of period	203,875	219,876
Cash and cash equivalents at end of period	259,208	157,653
Restricted cash at end of period	7,497	6,520
Cash and cash equivalents and Restricted cash at end of period	266,705	164,173
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION:
Cash paid for interest	541	2,559
Cash paid for income taxes	16,635	7,568
Noncash transactions:
Changes in Trade accounts payable related to Property, plant and equipment, net	(4,934)	(786)
Loans to cover purchase of common stock under employee stock plan	0	171
Recognition of right of use assets and lease liability upon adoption of new accounting standard	$ 356	$ 0

Nature of the Business and Basis of Presentation	9 Months Ended
Nature of the Business and Basis of Presentation	Dec. 24, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Nature of the Business and Basis of Presentation	Nature of the Business and Basis of Presentation Allegro MicroSystems, Inc., together with its consolidated subsidiaries (“AMI” or the “Company”), is a global leader in designing, developing and manufacturing sensing and power solutions for motion control and energy-efficient systems in automotive and industrial markets. The Company is headquartered in Manchester, New Hampshire, and has a global footprint with 16 locations across four continents. The accompanying unaudited condensed consolidated financial statements have been prepared by the Company. Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) have been condensed or omitted pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”). The unaudited condensed consolidated financial statements include the Company’s accounts and those of its subsidiaries. All intercompany balances have been eliminated in consolidation. These unaudited condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and notes thereto included in the Company’s Annual Report on Form 10-K filed with the SEC on May 19, 2021 (the “2021 Annual Report”). In the opinion of the Company’s management, the financial information for the interim periods presented reflects all adjustments necessary for a fair presentation of the Company’s financial position, results of operations and cash. The results reported in these unaudited condensed consolidated financial statements are not necessarily indicative of results that may be expected for the entire year. On November 2, 2020, the Company completed its initial public offering (“IPO”). Refer to Note 1, “Nature of Business and Basis of Presentation” to the Company’s 2021 Annual Report for details. Financial Periods The Company’s third quarter three-month period is a 13-week period ending on the Friday closest to the last day in December. The Company’s third quarter of fiscal 2022 ended December 24, 2021, and the Company’s third quarter of fiscal 2021 ended December 25, 2020.

Summary of Significant Accounting Policies	9 Months Ended
Summary of Significant Accounting Policies	Dec. 24, 2021
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Summary of Significant Accounting Policies Use of Estimates The preparation of consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, and disclosures of contingencies at the date of the unaudited consolidated financial statements and the reported amounts of net sales and expenses during the reporting period. Such estimates relate to useful lives of fixed and intangible assets, current expected credit losses/allowances for doubtful accounts and customer returns and sales allowances. Such estimates could also relate to the fair value of acquired assets and liabilities, including goodwill and intangible assets, net realizable value of inventory, accrued liabilities, the valuation of stock-based awards, deferred tax valuation allowances, and other reserves. On an ongoing basis, management evaluates its estimates. Actual results could differ from those estimates, and such differences may be material to the unaudited condensed consolidated financial statements. Reclassifications Certain reclassifications have been made to prior-period amounts to conform to current-period reporting classifications. Concentrations of Credit Risk and Significant Customers Financial instruments that potentially subject the Company to concentrations of credit risk consist primarily of cash, cash equivalents and accounts receivable. The Company maintains its cash and cash equivalents with financial institutions that management believes to be of a high credit quality. To manage credit risk related to accounts receivables, the Company evaluates the creditworthiness of its customers and maintains allowances, to the extent necessary, for potential credit losses based upon the aging of its accounts receivable balances and known collection issues. The Company has not experienced any significant credit losses to date. As of December 24, 2021 and March 26, 2021, Sanken Electric Co., Ltd. (“Sanken”) accounted for 27.0% and 22.7% of the Company’s outstanding trade accounts receivable, net, respectively, including related party trade accounts receivable. No other customers accounted for 10% or more of outstanding trade accounts receivable, net during those periods. For the three- and nine-month periods ended December 24, 2021, Sanken accounted for 21.1% and 19.7% of total net sales, respectively. No other customers accounted for 10% or more of total net sales for either of the three- and nine-month periods ended December 24, 2021. For the three- and nine-month periods ended December 25, 2020, Sanken accounted for 16.1% and 17.4% of total net sales, respectively. No other customers accounted for 10% or more of total net sales for either of the three- and nine-month periods ended December 25, 2020. During the three-month period ended December 24, 2021, sales from customers located outside of the United States accounted for, in the aggregate, 85.9% of the Company’s total net sales, with Greater China accounting for 26.1%, Japan accounting for 21.1% and South Korea accounting for 10.7%. During the nine-month period ended December 24, 2021, sales from customers located outside of the United States accounted for, in the aggregate, 85.8% of the Company’s total net sales, with Greater China accounting for 25.0%, Japan accounting for 19.7% and South Korea accounting for 10.8%. No other countries accounted for greater than 10% of total net sales for the three- and nine-month periods ended December 24, 2021. During the three-month period ended December 25, 2020, sales from customers located outside of the United States, in the aggregate, accounted for 85.4% of the Company’s total net sales, with Greater China accounting for 28.1%, Japan accounting for 16.0% and South Korea accounting for 10.7%. During the nine-month period ended December 25, 2020, sales from customers located outside of the United States, in the aggregate, accounted for 86.1% of the Company’s total net sales, with Greater China accounting for 27.9%, Japan accounting for 17.4% and South Korea accounting for 10.5%. No other countries accounted for greater than 10% of total net sales for the three- and nine-month periods ended December 25, 2020. Recently Adopted Accounting Standards The Company qualifies as an “emerging growth company” as defined in the Jumpstart Our Business Startups Act of 2012 and has elected to “opt in” to the extended transition related to complying with new or revised accounting standards, which means that when a standard is issued or revised and it has different application dates for public and nonpublic companies, the Company will adopt the new or revised standard at the time nonpublic companies adopt the new or revised standard and will do so until such time that the Company either (i) irrevocably elects to “opt out” of such extended transition period or (ii) no longer qualifies as an emerging growth company. The Company may choose to early adopt any new or revised accounting standards whenever such early adoption is permitted for nonpublic companies. In February 2016, the Financial Accounting Standards Board (“FASB”) issued its new lease accounting guidance in Accounting Standards Update (“ASU”) 2016‑02, “Leases (Topic 842)” (“ASU 2016-02”), which is codified as Accounting Standard Codification (“ASC”) Topic 842 (“ASC 842”) and replaces ASC Topic 840, Leases (“ASC 840”). ASU 2016-02 and all subsequent amendments amend various aspects of existing guidance for leases and require significant additional quantitative and qualitative disclosures about lease arrangements. ASU 2016-02 requires lessees to recognize lease assets representing the right to use an underlying asset and lease liabilities representing the obligation to make lease payments over the lease term, measured on a discounted basis, for substantially all leases. ASU 2016-02 retains a distinction between finance leases and operating leases using classification criteria that are substantially similar to the previous lease guidance. Although the Company has elected to opt-in to the extended transition dates for new or revised accounting standards to align with nonpublic companies, the Company elected to early adopt ASU 2016-02 effective March 27, 2021. The Company used the optional transition method to the modified retrospective approach, which eliminates the requirement to restate the prior period financial statements. Under this transition provision, the Company has applied ASU 2016-02 to reporting periods beginning on March 27, 2021, while prior periods continue to be reported and disclosed in accordance with the legacy guidance under ASC 840. A number of practical expedients and policy elections are available under the new guidance to reduce the burden of adoption and ongoing compliance with ASC 842. The Company elected the “package of practical expedients”, which permitted the Company to retain lease classification and initial direct costs for any identified leases that existed prior to adoption of ASC 842. Under this transition guidance, the Company also did not reassess whether any existing contracts at March 27, 2021 are, or contain, leases and carried forward its initial determination under legacy lease guidance. The Company has elected not to adopt the “hindsight” practical expedient and, therefore, will measure the right-of-use (“ROU”) asset and lease liability using the remaining portion of the lease term at adoption on March 27, 2021. The Company made an accounting policy election available under the new lease standard to not recognize lease assets and lease liabilities for leases with a term of 12 months or less. For all other leases, the initial measurement of the lease liability is based on the present value of future lease payments over the lease term at the application date or the commencement date of the lease. Lease payments may include fixed rent escalation clauses or payments that depend on an index or a rate (such as the consumer price index) measured using the index or applicable rate at lease commencement. Subsequent changes in the index or rate and any other variable payments, such as market-rate base rent adjustments, are recognized as variable lease expense in the period incurred. Payments for terminating a lease are included in lease payments only when it is probable they will be incurred. To determine the present value of lease payments, the Company uses its incremental borrowing rate, as the leases generally do not have a readily determinable implicit discount rate. The Company applies judgment in assessing factors such as Company-specific credit risk, lease term, nature and quality of the underlying collateral, currency and economic environment in determining the lease-specific incremental borrowing rate. The carrying value of the ROU assets at the application date equals the lease liability adjusted for any initial direct costs incurred and lease payments made at or before the commencement date and for any lease incentives. The Company’s leases generally include a non-lease component representing additional services transferred to the Company. The Company has made an accounting policy election to account for lease and non-lease components in its contacts as a single lease component for all asset classes. The non-lease components are usually variable in nature and recorded in variable lease expense in the period incurred. Adoption of ASC 842 resulted in ROU assets of $18,403 and lease liabilities of $18,759 related to the Company’s operating leases at March 27, 2021. The Company does not have any leases classified as finance leases. The adoption of ASC 842 did not materially impact the Company’s consolidated net income or consolidated cash flows and did not result in a cumulative-effect adjustment to the opening balance of retained earnings. In June 2016, the FASB issued ASU No. 2016-13, “Measurement of Credit Losses on Financial Instruments” (“ASU 2016-13”), which adds an impairment model (known as the current expected credit loss (“CECL”) model) that is based on expected losses rather than incurred losses. Under the new guidance, an entity recognizes as an allowance its estimate of expected credit losses, which the FASB believes will result in more timely recognition of such losses. The ASU is also intended to reduce complexity by decreasing the number of credit impairment models that entities use to account for debt instruments. The Company adopted ASU 2016-13 effective March 27, 2021 and concluded that the standard update did not have a material impact on either the financial position, results of operations, cash flows, or related disclosures. There was no impact on beginning balance retained earnings upon adoption of this ASU. The Company is exposed to credit losses primarily through trade and other financing receivables arising from revenue transactions. The Company uses an aging schedule method to estimate current expected credit losses based on days of delinquency, including information about past events and current economic conditions. The Company’s accounts receivable is separated into two categories using a portfolio methodology to evaluate the allowance under the CECL impairment model based on sales categorization and similar credit quality and worthiness of the customers: original equipment manufacturers (“OEMs”) and distributors. The receivables in each category share similar risk characteristics. The change to the CECL impairment model resulted in an immaterial increase in the provision for expected credit losses compared to the allowance for doubtful accounts under the previous incurred loss method. The Company increases the allowance for expected credits losses when the Company determines all or a portion of a receivable is uncollectible. The Company recognizes recoveries as a decrease to the allowance for expected credit losses. For the three- and nine-month periods ended December 24, 2021, no material changes in the allowance occurred. Recently Issued Accounting Standards Not Yet Adopted In October 2021, the FASB issued ASU No. 2021-08, Business Combinations (Topic 805), Accounting for Contract Assets and Contract Liabilities from Contracts with Customers (“ASU 2021-08”), which eliminates the diversity in practice and inconsistency related to the accounting for acquired revenue contracts with customers in a business combination. The amendments in ASU 2021-08 require an acquiring entity to apply ASC Topic 606, Contracts with Customers (“ASC 606”), to recognize and measure contract assets and contract liabilities in a business combination as if the acquired contracts with customers were originated by the acquiring entity at the acquisition date. An acquirer may assess how the acquiree applied ASC 606 and generally should recognize and measure the acquired contract assets and contract liabilities consistent with the recognition and measurement in the acquiree’s financial statements as prepared in accordance with U.S. GAAP. If unable to rely on the acquiree’s accounting due to errors, noncompliance with U.S. GAAP, or differences in accounting policies, the acquirer should consider the terms of the acquired contracts, such as timing of payment, identify each performance obligation in the contracts, and allocate the total transaction price to each identified performance obligation on a relative standalone selling price basis as of contract inception (that is, the date the acquiree entered into the contracts) or contract modification to determine what should be recorded at the acquisition date. The guidance is effective prospectively for fiscal years beginning after December 15, 2022, including interim periods within those fiscal years. Early adoption is permitted, including in an interim period as of the beginning of the fiscal year that includes that interim period. An entity that early adopts in an interim period should apply the amendments (1) retrospectively to all business combinations for which the acquisition date occurs on or after the beginning of the fiscal year that includes the interim period of early application and (2) prospectively to all business combinations that occur on or after the date of initial application. The Company is currently in the process of evaluating the impact of this new guidance on the consolidated financial statements and the related disclosures, which will be dependent on the consummation of any future business combination. In May 2021, the FASB issued ASU No. 2021-04, Earnings Per Share (Topic 260), Debt—Modifications and Extinguishments (Subtopic 470-50), Compensation—Stock Compensation (Topic 718), and Derivatives and Hedging—Contracts in Entity’s Own Equity (Subtopic 815-40) (“ASU 2021-04”). ASU 2021-04 outlines how an entity should account for modifications made to equity-classified written call options, including stock options and warrants to purchase the entity’s own common stock. The guidance in the ASU requires an entity to treat a modification of an equity-classified written call option that does not cause the option to become liability-classified as an exchange of the original option for a new option. This guidance applies whether the modification is structured as an amendment to the terms and conditions of the equity-classified written call option or as termination of the original option and issuance of a new option. The guidance is effective prospectively for fiscal years beginning after December 15, 2021, including interim periods within those fiscal years. Early adoption is permitted, including in an interim period as of the beginning of the fiscal year that includes that interim period. The Company is currently in the process of evaluating the impact of this new guidance on the consolidated financial statements and the related disclosures.

Revenue from Contract with Customers

9 Months Ended

Dec. 24, 2021

Revenue from Contract with Customer [Abstract]

Revenue from Contracts with Customers

The Company generates revenue from the sale of magnetic sensor integrated circuits (“ICs”) and application-specific analog power semiconductors. The following tables summarize net sales disaggregated by application, by product and by geography for the three- and nine-month periods ended December 24, 2021 and December 25, 2020. The categorization of net sales by application is determined using various characteristics of the product and the application into which the Company’s product will be incorporated. The categorization of net sales by geography is determined based on the location the products are being shipped to.

Net sales by application:


	Three-Month Period Ended				Nine-Month Period Ended
	December 24, 2021		December 25, 2020		December 24, 2021		December 25, 2020

Automotive	$	130,797	$	113,902	$	390,351	$	279,759
Industrial	31,903		23,654		98,533		65,710
Other	23,929		26,893		79,497		70,630



Total net sales	$	186,629	$	164,449	$	568,381	$	416,099

Net sales by product:


	Three-Month Period Ended				Nine-Month Period Ended
	December 24, 2021		December 25, 2020		December 24, 2021		December 25, 2020
Power integrated circuits	$	62,859	$	54,406	$	195,054	$	146,276
Magnetic sensors	123,543		109,457		371,806		268,956
Photonics	227		586		1,521		867


Total net sales	$	186,629	$	164,449	$	568,381	$	416,099

Net sales by geography:


	Three-Month Period Ended				Nine-Month Period Ended
	December 24, 2021		December 25, 2020		December 24, 2021		December 25, 2020
Americas:
United States	$	26,228	$	23,934	$	80,854	$	57,892
Other Americas	4,921		5,620		16,697		10,797
EMEA:
Europe	29,891		28,239		97,108		70,459
Asia:
Japan	39,461		26,439		112,079		72,570
Greater China	48,696		46,172		142,158		116,178
South Korea	19,935		17,606		61,614		43,733
Other Asia	17,497		16,439		57,871		44,470
Total net sales	$	186,629	$	164,449	$	568,381	$	416,099

The Company recognizes sales net of returns, credits issued, price protection adjustments and stock rotation rights. At December 24, 2021 and March 26, 2021, these adjustments and current expected credit losses were $16,014 and $15,412, respectively, and were netted against trade accounts receivable in the unaudited consolidated balance sheets. These amounts represent activity of net charges and income of $602 and $898, respectively, for the nine-month periods ended December 24, 2021 and December 25, 2020, respectively. Refer to Note 5, “Trade Accounts Receivable, net” for details of these adjustments and allowances.

Unsatisfied performance obligations primarily represent contracts for products with future delivery dates. The Company elected to not disclose the amount of unsatisfied performance obligations, as these contracts have original expected durations of less than one year.

- Definition

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-URI http://asc.fasb.org/topic&trid=49130388

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 10
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130551-203045

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 13
-Subparagraph (b)(2)
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130556-203045

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130554-203045

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 9
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130550-203045

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (e)
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130554-203045

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130554-203045

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (d)
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130554-203045

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 15
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130558-203045

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130554-203045

+ Details

Fair Value Measurements

9 Months Ended

Dec. 24, 2021

Fair Value Disclosures [Abstract]

Fair Value Measurements

The following tables present information about the Company’s financial assets and liabilities as of December 24, 2021 and March 26, 2021 measured at fair value on a recurring basis and indicate the level of the fair value hierarchy utilized to determine such fair values:


	Fair Value Measurement at December 24, 2021 Using:
	Level 1		Level 2		Level 3		Total
Assets:
Cash equivalents:
Money market fund deposits	$	16,348	$	—	$	—	$	16,348
Restricted cash:
Money market fund deposits	7,497		—		—		7,497
Other assets, net (long-term):
Investments in marketable securities	$	13,393	$	—	$	—	$	13,393
Total assets	$	37,238	$	—	$	—	$	37,238
Liabilities:
Other long-term liabilities:
Contingent consideration	$	—	$	—	$	2,700	$	2,700
Total liabilities	$	—	$	—	$	2,700	$	2,700


	Fair Value Measurement at March 26, 2021 Using:
	Level 1		Level 2		Level 3		Total
Assets:
Cash equivalents:
Money market fund deposits	$	16,327	$	—	$	—	$	16,327
Restricted cash:
Money market fund deposits	6,661		—		—		6,661
Total assets	$	22,988	$	—	$	—	$	22,988
Liabilities:
Other long-term liabilities:
Contingent consideration	—		—		4,800		4,800
Total liabilities	$	—	$	—	$	4,800	$	4,800

The following table represents the unrealized gains and losses on investments in marketable securities held with a readily determinable fair value for the nine-month period ended December 24, 2021:



Net gains and losses recognized during the period on equity securities	$	4,482
Less: Net gains and losses recognized during the period on equity securities sold during the period	—
Unrealized gains and losses recognized during the reporting period on equity securities still held at the reporting date	$	4,482

In addition to the unrealized gains in the table above, the change in fair value of the equity securities was impacted by unrealized foreign currency exchange losses of $278 for the nine-month period ended December 24, 2021.

The following table shows the change in fair value of Level 3 contingent consideration in connection with the fiscal year 2021 purchase of Voxtel, Inc. (“Voxtel”), a privately-held technology company located in Beaverton, Oregon that develops, manufactures and supplies photonic and advanced 3D imaging technologies (the “Voxtel Acquisition”), for the nine-month period ended December 24, 2021:


	Level 3 Contingent Consideration
Balance at March 26, 2021	$	4,800
Change in fair value of contingent consideration	(2,100)

Balance at December 24, 2021	$	2,700

Assets and liabilities measured at fair value on a recurring basis also consist of marketable securities, unit investment trust fund, loans, bonds, stock and other investments which are the Company’s defined benefit plan assets. Fair value information for those assets and liabilities, including their classification in the fair value hierarchy, is included in Note 15, “Retirement Plans.”

During the nine-month periods ended December 24, 2021 and December 25, 2020, there were no transfers among Level 1, Level 2 and Level 3 asset or liabilities.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Trade Accounts Receivable, net

9 Months Ended

Dec. 24, 2021

Receivables [Abstract]

Trade Accounts Receivable, net

Trade accounts receivable, net (including related party trade accounts receivable) consisted of the following:


	December 24, 2021		March 26, 2021
Trade accounts receivable	$	120,500	$	108,546
Less:
Provision for expected credit losses and allowance for doubtful accounts	(70)		(138)
Returns and sales allowances	(15,944)		(15,274)
Related party trade accounts receivable	(28,251)		(23,634)
Total	$	76,235	$	69,500

Changes in the Company’s provision for expected credit losses / allowance for doubtful accounts and returns and sales allowances were as follows:


Description	Provision for Expected Credit Losses / Allowance for Doubtful Accounts		Returns and Sales Allowances		Total
Balance at March 26, 2021	$	138	$	15,274	$	15,412
Charged to costs and expenses or revenue	(68)		114,047		113,979
Write-offs, net of recoveries	—		(113,377)		(113,377)
Balance at December 24, 2021	$	70	$	15,944	$	16,014


Description	Allowance for Doubtful Accounts		Returns and Sales Allowances		Total
Balance at March 27, 2020	$	288	$	17,185	$	17,473
Charged to costs and expenses or revenue	(150)		103,660		103,510
Write-offs, net of recoveries	—		(104,408)		(104,408)
Balance at December 25, 2020	$	138	$	16,437	$	16,575

Inventories

9 Months Ended

Dec. 24, 2021

Inventory Disclosure [Abstract]

Inventories

Inventories include material, labor and overhead and consisted of the following:


	December 24, 2021		March 26, 2021
Raw materials and supplies	$	11,751	$	9,629
Work in process	45,089		50,095
Finished goods	22,018		27,774

Total	$	78,858	$	87,498

The Company recorded inventory provisions totaling $348 and $5,389 for the three- and nine-month periods ended December 24, 2021, respectively, and $885 and $2,958 for the three- and nine-month periods ended December 25, 2020, respectively.

The Company discontinued a product line manufactured by Voxtel and subsequently recognized impairment charges, which represented much of the increase in inventory provisions, for the related inventory of $— and $3,106 for the three- and nine-month periods ended December 24, 2021, respectively.

Assets Held For Sale	9 Months Ended
Assets Held For Sale	Dec. 24, 2021
Discontinued Operations and Disposal Groups [Abstract]
Assets Held For Sale	Assets Held for SaleAs of March 26, 2021, the Company had entered into a definitive agreement to sell its Thailand-based facility (the “AMTC Facility”) as it had already transferred production to the Manila, Philippines facility, which was reclassified from Property, plant and equipment, net to Assets held for sale in fiscal year 2021. The sale of the AMTC Facility was completed on August 3, 2021 following receipt of government approvals in Thailand and the fulfillment of customary closing conditions. The Company received cash of $27,405, which with related selling costs, resulted in a gain on the final disposition of $370.

Property, Plant and Equipment, net

9 Months Ended

Dec. 24, 2021

Property, Plant and Equipment [Abstract]

Property, Plant and Equipment, net

Property, plant and equipment, net is stated at cost, and consisted of the following:


	December 24, 2021		March 26, 2021
Land	$	16,257	$	16,602
Buildings, building improvements and leasehold improvements	57,282		56,911
Machinery and equipment	528,786		491,025
Office equipment	6,252		6,281
Construction in progress	27,971		29,201
Total	636,548		600,020
Less accumulated depreciation	(428,843)		(407,627)
Total	$	207,705	$	192,393

Total depreciation expense amounted to $10,893 and $33,235 for the three- and nine-month periods ended December 24, 2021, respectively, and $11,255 and $33,861 for the three- and nine-month periods ended December 25, 2020, respectively.

Long-lived assets include property, plant and equipment and related deposits on such assets, and capitalized tooling costs. The geographic locations of the Company’s long-lived assets, net, based on physical location of the assets, as of December 24, 2021 and March 26, 2021 are as follows:


	December 24, 2021		March 26, 2021
United States	$	34,793	$	36,529
Philippines	166,087		148,374
Thailand	—		1,698
Other	7,328		7,190
Total	$	208,208	$	193,791

Amortization of prepaid tooling costs amounted to $31 and $97 for the three- and nine-month periods ended December 24, 2021, respectively, and $18 and $54 for the three- and nine-month periods ended December 25, 2020, respectively.

Goodwill and Intangible Assets

9 Months Ended

Dec. 24, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets

The table below summarizes the changes in the carrying amount of goodwill as follows:


	Total
Balance at March 26, 2021	$	20,106

Currency translation	(63)
Balance at December 24, 2021	$	20,043

Intangible assets, net is as follows:


	December 24, 2021
Description	Gross		Accumulated Amortization		Net Carrying Amount		Weighted- Average Lives
Patents	$	35,558	$	14,580	$	20,978	10 years
Customer relationships	6,899		6,640		259		9 years
Process technology	13,100		1,470		11,630		12 years
Indefinite-lived and legacy process technology	4,050		1,650		2,400
Trademarks	200		54		146		5 years
Legacy trademarks	629		57		572
Other	32		32		—
Total	$	60,468	$	24,483	$	35,985


	March 26, 2021
Description	Gross		Accumulated Amortization		Net Carrying Amount		Weighted- Average Lives
Patents	$	32,751	$	12,307	$	20,444	10 years
Customer relationships	6,193		5,865		328		9 years
Process technology	13,100		651		12,449		12 years
Indefinite-lived and legacy process technology	4,050		1,650		2,400
Trademarks	200		24		176		5 years
Legacy trademarks	627		58		569
Other	32		32		—
Total	$	56,953	$	20,587	$	36,366

Intangible assets amortization expense was $1,087 and $3,190 for the three- and nine-month periods ended December 24, 2021, respectively, and $926 and $2,310 for the three- and nine-month periods ended December 25, 2020, respectively. The majority of the Company’s intangible assets are related to patents as noted above. The Company capitalizes external legal costs incurred in the defense of its patents when it believes that a significant, discernible increase in value will result from the defense and a successful outcome of the legal action is probable. When the Company capitalizes patent defense costs, it amortizes these costs over the remaining estimated useful life of the patent, which is generally 10 years. There were no significant costs capitalized during either of the first nine months of fiscal years 2022 or 2021.

As of December 24, 2021, annual amortization expense of intangible assets for the next five fiscal years is expected to be as follows:


Remainder of 2022	$	935
2023	3,612
2024	3,480
2025	3,260
2026	3,032
Thereafter	21,666
Total	$	35,985

Other Assets, net

9 Months Ended

Dec. 24, 2021

Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]

Other Assets, net

The composition of other assets, net is as follows:


	December 24, 2021		March 26, 2021
VAT receivables long-term, net	$	10,659	$	8,177
Income taxes receivable long-term	11,462		—
Investments in marketable securities (1)	13,393		—
Deposits	9,680		3,573
Prepaid contracts long-term	1,466		1,295
Deferred financing costs	74		149
Other	1,344		1,419
Total	$	48,078	$	14,613

(1) Represents equity investments in an entity whose equity securities have a readily determinable fair value. These strategic investments represent less than a 20% ownership interest in the entity, and the Company does not maintain power over or control of the entity. These investments are measured at fair value with unrealized gains and losses related to changes in the entity’s stock price and the impact of changes in foreign exchange rates each included in the consolidated statements of operations.

Accrued Expenses and Other Current Liabilities

9 Months Ended

Dec. 24, 2021

Payables and Accruals [Abstract]

Accrued Expenses and Other Current Liabilities

The composition of accrued expenses and other current liabilities is as follows:


	December 24, 2021		March 26, 2021

Accrued management incentives	$	24,927	$	21,538
Accrued salaries and wages	16,639		15,060
Base acquisition purchase price due	2,000		14,588
Deposits on AMTC Facility	—		14,531
Accrued vacation	5,423		5,739
Accrued severance	709		572
Accrued professional fees	1,949		2,029
Accrued income taxes	2,096		514
Accrued utilities	604		623
Other current liabilities	4,915		3,738
Total	$	59,262	$	78,932

Leases

9 Months Ended

Dec. 24, 2021

Leases [Abstract]

Leases

The Company determines if an arrangement is or contains a lease at inception, which is the date on which the terms of the contract are agreed to and the agreement creates enforceable rights and obligations. The Company also considers whether its service arrangements include the right to control the use of an asset.

The Company leases real estate, equipment and vehicles under operating lease agreements that have initial terms ranging from 1 to 10 years. The Company does not have any leases classified as finance leases. Some leases include one or more options to exercise renewal terms, generally at the Company’s sole discretion, that can extend the lease term. Certain leases contain rights to terminate whereby those termination options are held by either the Company, the lessor, or both parties. These options to extend or terminate a lease are included in the lease term only when it is reasonably certain that the Company will exercise that option. The Company’s leases generally do not contain any material restrictive covenants.

Operating lease cost is recognized on a straight-line basis over the lease term. Information regarding the Company’s leases are as follows:


	Three-Month Period Ended			Nine-Month Period Ended
	December 24, 2021				December 24, 2021
Lease costs:
Operating lease expense	$	1,075			$	3,378
Short term lease expense	190				332

Other information:
Operating cash flows from operating leases	$	1,259			$	3,733
Weighted-average remaining lease term – operating leases	5.53 years				5.53 years
Weighted-average discount rate – operating leases	4.5		%		4.5		%

Rent expense incurred under operating lease agreements was $1,454 and $4,226 for the three- and nine-month periods ended December 24, 2021, respectively, and $1,172 and $3,477 for the three- and nine-month periods ended December 25, 2020.

As of December 24, 2021, expirations of lease obligations by fiscal year were as follows:


Remainder of 2022	$	1,056
2023	3,886
2024	3,503
2025	3,070
2026	2,597
Thereafter	4,406
Total undiscounted lease payments	$	18,518
Less: present value adjustment	(2,272)
Total operating lease liabilities	$	16,246

Information as Lessee under ASC 840

Future minimum lease payments for noncancellable operating leases as reported under the previous lease guidance as of March 26, 2021 are as follows:


2022	$	2,887
2023	2,726
2024	2,644
2025	2,172
2026	1,773
Thereafter	3,713
Total	$	15,915

Debt and Other Borrowings	9 Months Ended
Debt and Other Borrowings	Dec. 24, 2021
Debt Disclosure [Abstract]
Debt and Other Borrowings	Debt and Other Borrowings On September 30, 2020, the Company entered into a term loan credit agreement with Credit Suisse AG, Cayman Islands Branch, as administrative agent and collateral agent, and the other agents, arrangers and lenders party thereto, providing for a $325,000 senior secured term loan facility due in 2027 (the “Term Loan Facility”). On September 30, 2020, the Company also entered into a revolving facility credit agreement with Mizuho Bank, Ltd., as administrative agent and collateral agent, and the other agents, arrangers and lenders party thereto, providing for a $50,000 senior secured revolving credit facility expiring in 2023 (the “Revolving Credit Facility” and, together with the Term Loan Facility, the “Senior Secured Credit Facilities”). The Revolving Credit Facility is secured by a lien on the same collateral and on the same basis as the Term Loan Facility. Interest on the Term Loan Facility is calculated at LIBOR plus 3.75% to 4.00% based on the Company’s net leverage ratio, and LIBOR is subject to a 0.5% floor. The Company’s outstanding borrowings bore an interest rate of 4.25% at December 24, 2021. As of both December 24, 2021 and March 26, 2021, the Company had $25,000 outstanding under the Term Loan Facility and had not borrowed on the Revolving Credit Facility. Included in the Term Loan Facility were deferred financing costs of $9,374, which the Company has deducted from the carrying amount presented on its unaudited consolidated balance sheet and amortized into interest expense or recognized as loss on debt extinguishment. Included in the Revolving Credit Facility were deferred financing costs of $300, which the Company classified the related short-term and long-term portions within “Prepaid expenses and other current assets” and “Other assets” on its unaudited consolidated balance sheet and is amortizing those costs over the term of the facility. The unamortized portion of the deferred financing costs associated with the Revolving Credit Facility was $174 and $249 at December 24, 2021 and March 26, 2021, respectively. On November 26, 2019, the Company, through its subsidiaries, entered into a line of credit agreement with a financial institution that provides for a maximum borrowing capacity of 60,000 Philippine pesos (approximately $1,196 at December 24, 2021) at the bank’s prevailing interest rate. While this line of credit initially expired on August 21, 2021 (in connection with certain delays as a result of the COVID-19 pandemic and its impact on bank operations), the line of credit was extended in September 2021 and is now expected to expire on August 21, 2022. There were no borrowings outstanding under this line of credit as of December 24, 2021 and March 26, 2021. On November 20, 2019, the Company, through its subsidiaries, entered into a line of credit agreement with a financial institution that provides for a maximum capacity of 75,000 Philippine pesos (approximately $1,495 at December 24, 2021) at the bank’s prevailing interest rate. While this line of credit initially expired on June 30, 2021 (in connection with certain delays as a result of the COVID-19 pandemic and its impact on bank operations), the line of credit was extended in September 2021 and is now expected to expire on June 30, 2022. There were no borrowings outstanding under this line of credit as of December 24, 2021 and March 26, 2021.

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
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+ Details

Other Long-Term Liabilities

9 Months Ended

Dec. 24, 2021

Other Liabilities Disclosure [Abstract]

Other Long-Term Liabilities

The composition of other long-term liabilities is as follows:


	December 24, 2021		March 26, 2021

Accrued management incentives	$	734	$	628
Accrued retirement	10,655		10,656
Accrued contingent consideration	2,700		4,800
Provision for uncertain tax positions (net)	2,741		2,774
Other	—		275
Total	$	16,830	$	19,133

Retirement Plans

9 Months Ended

Dec. 24, 2021

Retirement Benefits [Abstract]

Retirement Plans

Retirement PlansThe Company recognizes the funded status (i.e., the difference between the fair value of plan assets and the benefit obligations) of its defined benefit pension plans in its unaudited consolidated balance sheets with a corresponding adjustment to accumulated other comprehensive income, net of tax. These amounts will continue to be recognized as a component of future net periodic benefit costs consistent with the Company’s past practice. Further, actuarial gains and losses and prior service costs that arise in future periods and are not recognized as net periodic benefit costs in the same periods will be

recognized as a component of other comprehensive income. Those amounts will also be recognized as a component of future net periodic benefit costs consistent with the Company’s past practice. The Company uses a measurement date for its defined benefit pension plans and other postretirement benefit plans that is equivalent to its fiscal year-end.

Plan Descriptions

Non-U.S. Defined Benefit Plan

The Company, through its wholly owned subsidiary, Allegro MicroSystems Philippines, Inc. (“AMPI”), has a defined benefit pension plan, which is a noncontributory plan that covers substantially all employees of the respective subsidiary. The plan’s assets are invested in common trust funds, bonds and other debt instruments and stocks.

Effect on the unaudited statements of operations

Expense related to the non-United States (“U.S.”). defined benefit plan was as follows:


	Three-Month Period Ended				Nine-Month Period Ended
	December 24, 2021		December 25, 2020		December 24, 2021		December 25, 2020
Service cost	$	365	$	296	$	1,119	$	843
Interest cost	158		166		485		474
Expected return on plan assets	(75)		(79)		(230)		(231)


Amortization of prior service cost	1		2		1		6
Actuarial loss	51		47		156		126
Net periodic pension expense	$	500	$	432	$	1,531	$	1,218

Information on Plan Assets

The table below sets forth the fair value of the entity’s plan assets as of December 24, 2021 and March 26, 2021, using the same three-level hierarchy of fair value inputs described in the significant accounting policies included in the Company’s 2021 Annual Report.


	Fair Value at December 24, 2021		Level 1		Level 2		Level 3
Assets of non-U.S. defined benefit plan:
Government securities	$	2,005	$	2,005	$	—	$	—
Unit investment trust fund	1,217		—		1,217		—
Loans	578		—		—		578
Bonds	706		—		706		—
Stocks and other investments	2,338		1,224		2		1,112
Total	$	6,844	$	3,229	$	1,925	$	1,690


	Fair Value at March 26, 2021		Level 1		Level 2		Level 3
Assets of non-U.S. defined benefit plan:
Government securities	$	1,646	$	1,646	$	—	$	—
Unit investment trust fund	1,221		—		1,221		—
Loans	584		—		—		584
Bonds	1,112		—		1,112		—
Stocks and other investments	3,081		1,947		1		1,133
Total	$	7,644	$	3,593	$	2,334	$	1,717

The following table shows the change in fair value of Level 3 plan assets for the nine months ended December 24, 2021:


	Level 3 Non-U.S. Defined Plan Assets
	Loans		Stocks
Balance at March 26, 2021	$	584	$	1,133
Additions during the year	308		—
Redemptions during the year	(289)		—
Revaluation of equity securities	(5)		13
Change in foreign currency exchange rates	(20)		(34)
Balance at December 24, 2021	$	578	$	1,112

The investments in the Company’s major benefit plans largely consist of low-cost, broad-market index funds to mitigate risks of concentration within the market sectors. In recent years, the Company’s investment policy has shifted toward a closer matching of the interest-rate sensitivity of the plan assets and liabilities. The appropriate mix of equity and bond investments is determined primarily through the use of detailed asset-liability modeling studies that look to balance the impact of changes in the discount rate against the need to provide asset growth to cover future service cost. The Company, through its wholly owned subsidiary, Allegro MicroSystems, LLC’s (“AML”), non-U.S. defined benefit plan, has added a greater proportion of fixed income securities with return characteristics that are more closely aligned with changes in liabilities caused by discount rate volatility. There are no significant restrictions on the amount or nature of the investments that may be acquired or held by the plans.

During the three- and nine-month periods ended December 24, 2021, the Company contributed approximately $344 and $1,040 to its non-U.S. pension plan, respectively. During the three- and nine-month periods ended December 25, 2020, the Company contributed approximately $249 and $736 to its non-U.S. pension plan, respectively. The Company expects to contribute approximately $1,425 to its non-U.S. pension plan in fiscal year 2022.

Other Defined Benefit Plans

In December 1993, the Company commenced with a rollover pension promise agreement (“Pension Promise”) to offer a then European employee an insured annuity upon their retirement at age 65. The employee was the only eligible participant of the Pension Promise. The impact associated with the expense and related other income with the Pension Promise was insignificant in fiscal years 2021 and 2020, respectively. The total values of the Pension Promise in the amounts of 663 and 928 British Pounds Sterling at December 24, 2021 and March 26, 2021, respectively (approximately $882 and $1,272 at December 24, 2021 and March 26, 2021, respectively), were classified with other in other assets, net and accrued retirement in other long-term liabilities in the Company’s unaudited consolidated balance sheets.

Defined Contribution Plan

The Company has a 401(k) plan that covers all employees meeting certain service and age requirements. Employees are eligible to participate in the plan upon hire when the service and age requirements are met. Employees may contribute up to 35% of their compensation, subject to the maximum contribution allowed by the Internal Revenue Service. All employees are 100% vested in their contributions at the time of plan entry.

Eligible AML U.S. employees may contribute up to 50% of their pretax compensation to a defined contribution plan, subject to certain limitations, and AML may match, at its discretion, 100% of the participants’ pretax contributions, up to a maximum of 5% of their eligible compensation. Matching contributions by AML totaled approximately $655 and $3,000 for the three- and nine-month periods ended December 24, 2021, respectively, and approximately $1,112 and $3,181 for the three- and nine-month periods ended December 25, 2020, respectively.

The Company, through its AML subsidiary, Allegro MicroSystems Europe, Ltd. (“Allegro Europe”), also has a defined contribution plan (the “AME Plan”) covering substantially all employees of Allegro Europe. Contributions to the AME Plan by the Company totaled approximately $209 and $639 for the three- and nine-month periods ended December 24, 2021, respectively, and approximately $207 and $592 for the three- and nine-month periods ended December 25, 2020, respectively.

- Definition

The entire disclosure for retirement benefits.

+ References

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+ Details

Commitment and Contingencies	9 Months Ended
Commitment and Contingencies	Dec. 24, 2021
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Insurance The Company, through its subsidiaries, utilizes self-insured employee health programs for employees in the United States. The Company records estimated liabilities for its self-insured health programs based on information provided by the third-party plan administrators, historical claims experience and expected costs of claims incurred but not reported. The Company monitors its estimated liabilities on a quarterly basis. As facts change, it may become necessary to make adjustments that could be material to the Company’s unaudited consolidated financial position and results of operations. The accrued liability related to self-insurance was $863 and $1,518 as of December 24, 2021 and March 26, 2021, respectively, and was included in accrued expenses and other current liabilities in the Company’s unaudited consolidated balance sheets. Legal proceedings The Company is subject to various legal proceedings and claims, the outcomes of which are subject to significant uncertainty. The Company does not believe there are any such matters that could have a material adverse effect on the Company’s financial position, results of operations or cash flows. The Company records an accrual for legal contingencies when it is determined that it is probable that a liability has been incurred and the amount of the loss can be reasonably estimated. In making such determinations, the Company evaluates, among other things, the degree of probability of an unfavorable outcome and, when it is probable that a liability has been incurred, and the ability to make a reasonable estimate of the loss. If the occurrence of liability is probable, the Company will disclose the nature of the contingency, and if estimable, will provide the likely amount of such loss or range of loss. Indemnification From time to time, the Company has agreed to indemnify and hold harmless certain customers for potential allegations of infringement of intellectual property rights and patents arising from the use of its products. To date, the Company has not incurred any costs in connection with such indemnification arrangements; therefore, there was no accrual of such amounts at December 24, 2021 or March 26, 2021. Environmental Matters The Company establishes accrued liabilities for environmental matters when it is probable that a liability has been incurred and the amount of the liability can be reasonably estimated. If the contingency is resolved for an amount greater or less than the accrual, or the Company’s share of the contingency increases or decreases or other assumptions relevant to the development of the estimate were to change, the Company would recognize an additional expense or benefit in the unaudited consolidated statements of operations during the period such determination was made. No significant environmental accruals were established at December 24, 2021 and March 26, 2021.

Net Income per Share

9 Months Ended

Dec. 24, 2021

Earnings Per Share [Abstract]

Net Income per Share

In connection with completion of the Company’s IPO on November 2, 2020 and immediately following the pricing of the IPO, all outstanding shares of Class A common stock and Class L common stock were automatically converted into an aggregate of 166,500,000 shares of common stock (the “Common Stock Conversion”). Outstanding shares of Class A and Class L common stock were converted to common stock in the Common Stock Conversion at conversion rates of approximately 15.822 and 13.010 shares of common stock to each share of Class A and Class L common stock, respectively. As part of the Common Stock Conversion, 2,066,508 and 1,766 shares of common stock were returned to the Company for tax payments made on behalf of holders of Class A common stock and Class L common stock, respectively, in withhold to cover tax transactions.

Prior to the Company’s IPO, shares of Class A common stock were entitled to a priority dividend of 8%. After Class A shareholders received an annualized return on capital of 8%, distributions of the remaining value were split between Class A and Class L shareholders based on the achievement of certain return targets. In determining income to the Class A stockholders for computing basic and diluted earnings per share for the three- and nine-month periods ended December 25, 2020, the Company did not allocate income to the shares of Class L common stock in accordance with ASC 260, because such classes of shares would not have shared in the distribution had all of the income for the periods been distributed. Accordingly, earnings per share calculations were provided only for the Class A shares with a weighted average of 124,363,078 shares for the three-month period ended December 25, 2020.

The following table sets forth the basic and diluted net income attributable to Allegro MicroSystems, Inc. per share. The number of shares of common stock reflected in the calculation is the total shares of common stock (vested and unvested) held on the IPO date, after the Common Stock Conversion.


	Three-Month Period Ended				Nine-Month Period Ended
	December 24, 2021		December 25, 2020		December 24, 2021		December 25, 2020
Net income attributable to Allegro MicroSystems, Inc.	$	32,936	$	(5,095)	$	93,791	$	9,309
Net income attributable to common stockholders	32,973		(5,060)		93,903		9,412
Basic weighted average shares of common stock	189,736,901		124,363,078		189,665,324		48,121,026
Dilutive effect of common stock equivalents	2,331,321		—		2,013,627		123,517,761
Diluted weighted average shares of common stock	192,068,222		124,363,078		191,678,951		171,638,787
Basic net income attributable to Allegro MicroSystems, Inc. per share	$	0.17	$	(0.04)	$	0.49	$	0.19
Basic net income attributable to common stockholders per share	$	0.17	$	(0.04)	$	0.50	$	0.20
Diluted net income attributable to Allegro MicroSystems, Inc. per share	$	0.17	$	(0.04)	$	0.49	$	0.05
Diluted net income attributable to common stockholders per share	$	0.17	$	(0.04)	$	0.49	$	0.05

The computed net income per share for the three- and nine-month periods ended December 24, 2021 and December 25, 2020 does not assume conversion of securities that would have an antidilutive effect on income per share. As the Company was in a net loss position for the three-month period ended December 25, 2020, common stock equivalents of 57,553,282 were deemed antidilutive.

The following table represents issuable weighted average share information for the respective periods:


	Three-Month Period Ended		Nine-Month Period Ended
	December 24, 2021	December 25, 2020	December 24, 2021	December 25, 2020
Restricted stock units	1,199,816	377,767	1,046,229	125,922
Performance stock units	1,117,532	422,768	959,084	140,923
Employee stock purchase plan	13,973	—	8,314	—
Shares related to Common Stock Conversion	—	56,752,747	—	123,250,916
Total	2,331,321	57,553,282	2,013,627	123,517,761

Common Stock and Stock-Based Compensation

9 Months Ended

Dec. 24, 2021

Share-based Payment Arrangement [Abstract]

Common Stock and Stock-Based Compensation

The Company accounts for stock-based compensation through the measurement and recognition of compensation expense for share-based payment awards made to employees over the related requisite service period, including stock options, performance share units (“PSUs”), restricted share units (“RSUs”) and restricted shares (all part of our equity incentive plan).

During the nine months ended December 24, 2021, the Company granted 1,030,887 RSUs to employees with an estimated grant date fair value of $25.47. Stock-based compensation expense related to non-vested awards not yet recorded at December 24, 2021 was $25,133, which is expected to be recognized over a weighted-average of 1.34 years. During the nine months ended December 24, 2021, 168,717 shares vested.

PSUs are included at 100% - 200% of target goals. The intrinsic value of the PSU’s that were unvested during the nine months ended December 24, 2021 was $36,708. The total compensation cost related to unvested awards not yet recorded at December 24, 2021 was $13,765, which is expected to be recognized over a weighted average of 1.78 years. No shares vested during the nine months ended December 24, 2021.

During the nine months ended December 24, 2021, 227,530 shares of the Company’s restricted common stock vested. In addition, 24,014 shares were forfeited, which reduced common stock outstanding during the same period. The Company

had 154,783 unvested shares of restricted common stock at December 24, 2021 with a weighted average grant date fair value of $14.00 and remaining vesting period of 1.07 years.

The Company recorded stock-based compensation expense in the following expense categories of its unaudited consolidated statements of operations:


	Three-Month Period Ended				Nine-Month Period Ended
	December 24, 2021		December 25, 2020		December 24, 2021		December 25, 2020
Cost of sales	$	742	$	4,694	$	1,992	$	4,844
Research and development	1,019		2,984		2,814		3,037
Selling, general and administrative	5,859		38,198		13,841		39,020
Total stock-based compensation	$	7,620	$	45,876	$	18,647	$	46,901

Income Taxes

9 Months Ended

Dec. 24, 2021

Income Tax Disclosure [Abstract]

Income Taxes

The Company recorded the following tax (benefit) provision in its unaudited consolidated statements of operations:


	Three-Month Period Ended						Nine-Month Period Ended
	December 24, 2021			December 25, 2020			December 24, 2021			December 25, 2020
Operating taxes	$	6,517		$	(12,169)		$	17,785		$	(9,764)
Discrete tax items	(236)			(18,354)			(1,098)			(18,149)
Provision (benefit) for income taxes	$	6,281		$	(30,523)		$	16,687		$	(27,913)
Annual operating tax rate	16.6		%	34.2		%	16.1		%	52.8		%
Effective tax rate	16.0		%	85.8		%	15.1		%	150.9		%

The Company’s provision (benefit) for income taxes is comprised of the year-to-date taxes based on an estimate of the annual effective tax rate plus the tax impact of discrete items.

The Company is subject to tax in the U.S. and various foreign jurisdictions. The Company’s effective tax rate can fluctuate primarily based on: the mix of its U.S. and foreign income; the impact of discrete transactions; and the difference between the amount of tax benefit generated by the foreign derived intangible income deduction (“FDII”) and research credits offset by the additional tax from the global intangible low-tax income (“GILTI”).

The Company regularly assesses the likelihood of outcomes that could result from the examination of its tax returns by the IRS and other tax authorities to determine the adequacy of its income tax reserves and expense. Should actual events or results differ from the Company’s then-current expectations, charges or credits to the Company’s provision for income taxes may become necessary. Any such adjustments could have a significant effect on the results of operations.

Income tax expense and the effective income tax rate were $6,281, or 16.0%, and $16,687, or 15.1%, for the three- and nine-month periods ended December 24, 2021, respectively. Income tax benefit and the effective income tax rate were $30,523, or 85.8%, and $27,913, or 150.9%, for the three- and nine-month periods ended December 25, 2020, respectively. The increase in income tax expense was primarily attributable to tax impacts of the IPO transaction recorded in the prior three- and nine-month period. The IPO transaction resulted in excess tax over financial reporting deductions related to a $40,440 stock-based compensation charge (and the related incremental tax deductions), a $16,000 one-time dividend treated as compensation expense for tax purposes, as well as a tax loss on the divestiture of Polar Semiconductor, LLC (“PSL”). The tax impacts of these transactions and other discrete transactions caused an overall U.S. NOL that will be carried back five years. Additional fluctuations in our effective income tax rate relate primarily to differences in our U.S. taxable income, estimated FDII benefits, GILTI income, research credits, non-deductible stock-based compensation charges, and discrete tax items.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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-Subparagraph (SAB TOPIC 6.I.5.Q1)
-URI http://asc.fasb.org/extlink&oid=122134291&loc=d3e330036-122817

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 14
-URI http://asc.fasb.org/extlink&oid=121826272&loc=d3e32705-109319

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 270
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6424409&loc=d3e44925-109338

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-URI http://asc.fasb.org/topic&trid=2144680

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 30
-Section 50
-Paragraph 2
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=6424122&loc=d3e41874-109331

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(h)(2))
-URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

+ Details

Related Party Transactions	9 Months Ended
Related Party Transactions	Dec. 24, 2021
Related Party Transactions [Abstract]
Related Party Transactions	Related Party Transactions Transactions involving Sanken The Company sells products and services to, and purchases in-process products from, Sanken. In addition, prior to March 28, 2020, the Company also sold products for Sanken. Net sales of the Company’s products and services to Sanken totaled $39,461 and $112,079 during the three- and nine-month periods ended December 24, 2021, respectively, and $26,439 and $72,570 during the three- and nine-month periods ended December 25, 2020, respectively. Trade accounts receivables, net of allowances from Sanken, totaled $28,251 and $21,595 as of December 24, 2021 and March 26, 2021, respectively. Other accounts receivable from Sanken totaled $54 and $198 as of December 24, 2021 and March 26, 2021, respectively. Transactions involving PSL In May 2009, the Company entered into a technology development agreement (the “IC Technology Development Agreement”) with Polar Semiconductor, Inc. (“PSI”) (subsequently changed to Polar Semiconductor, LLC), and Sanken, pursuant to which the parties agreed upon the general terms under which they may, from time to time, undertake certain activities (the “IC Process Development Activities”) to develop new technologies to be used by PSI to manufacture products for the Company and Sanken, as well as the ownership and use of such technologies following their development. The IC Technology Development Agreement provides that the expenses for all IC Process Development Activities will be shared equally by the Company and Sanken on an annual basis (subject to any exceptions upon which the parties may agree from time to time), with such expenses being paid to PSL by Sanken in the form of an up-front annual fee, with PSL being responsible for any expenses that exceed the amount of such fee. The IC Technology Development Agreement will continue in effect until such time as the Company, PSL and Sanken mutually agree to its termination or adopt a successor agreement, or in the event that the companies fail to agree upon the annual fee for that fiscal year within three months after the commencement of such fiscal year. During the three- and nine-month periods ended December 24, 2021, the Company (through PSL) received no fees from Sanken pursuant to the IC Technology Development Agreement, and, during the same periods, the Company paid no fees to PSL pursuant to the IC Technology Development Agreement. There are also no expected payments to be made during the remainder of fiscal year 2022. During the three- and nine-month periods ended December 25, 2020, the Company (through PSL) received fees of $300 and $900, respectively, from Sanken pursuant to the IC Technology Development Agreement, and, during the same periods, the Company paid fees of $300 and $900 to PSL pursuant to the IC Technology Development Agreement. In April 2015, PSL and Sanken entered into a discrete technology development agreement (as amended, the “Discrete Technology Development Agreement”), pursuant to which the parties agreed upon the general terms under which they, from time to time, would undertake certain activities (the “Discrete Development Activities”) to develop new technologies to be used by PSL to manufacture products for Sanken, as well as the ownership and use of such technologies following their development. In June 2018, the Company, PSL and Sanken entered into an amendment to the Discrete Technology Development Agreement pursuant to which the parties agreed to the assignment of all rights and obligations of PSL under such agreement to the Company and to certain amendments to the terms of such agreement. The Discrete Technology Development Agreement provided that the expenses for all Discrete Development Activities were to be shared equally by the Company and Sanken on an annual basis (subject to any exceptions upon which the parties agreed to from time to time). As of March 26, 2021, the Company had accrued $614 included in amounts due to a related party under the Discrete Technology Development Agreement, which was paid in the first quarter of fiscal year 2022. The Discrete Technology Development Agreement terminated on March 31, 2021 in accordance with its terms. On March 28, 2020, the Company entered into an agreement to divest a majority of its ownership interest in PSL to Sanken, in order to better align with its fabless, asset-lite scalable manufacturing strategy (the “PSL Divestiture”). In addition, this also resulted in PSL taking over the distribution of Sanken products in the U.S. and Europe at the same time. The Company continues to purchase in-process products from PSL. Purchases of various products from PSL totaled $11,837 and $38,346 for the three- and nine-month periods ended December 24, 2021, respectively, and $11,558 and $33,448 for the three- and nine-month periods ended December 25, 2020, respectively. For the three- and nine-month periods ended December 25, 2020, these amounts include $1,500 and $5,000, respectively, of price support payments. The price support payments were for fiscal year 2021 only. Accounts payable to PSL included in amounts due to a related party totaled $4,051 and $1,739 as of December 24, 2021 and March 26, 2021, respectively. Note Receivable from PSL On December 2, 2021, AML entered into a loan agreement with PSL wherein PSL provided an initial promissory note to AML for a principal amount of $7,500 (“Initial PSL Loan”). The Initial PSL Loan will be repaid in equal installments, comprising of principal and interest accrued at 1.26% per annum, over a term of four years with payments due on the first day of each calendar year quarter (April 1st, July 1st, October 1st, and January 1st). In addition, PSL has the option of borrowing up to an additional $7,500 on or around January 1, 2023 under the same terms of the PSL Loan (“Secondary PSL Loan”, and, collectively with the Initial PSL Loan, the “PSL Promissory Notes”). The loan funds will be used by PSL to procure a deep ultraviolet scanner and other associated manufacturing tools necessary to increase wafer fabrication capacity in support of the Company’s increasing wafer demand. Transactions involving Sanken Electric Europe Ltd. (“SEEL”) During fiscal year ended March 26, 2021 (and following the PSL Divestiture), Sanken, through PSL formed SEEL in order to cover its distribution business in Europe. The Company, in connection with the transition services agreement with Sanken and PSL, paid certain costs on behalf of them, and as such, had no related party accounts receivable from SEEL as of December 24, 2021. The Company had related party accounts receivable from SEEL of $1,272 as of March 26, 2021. Sublease Agreement In 2014, the Company, through one of its subsidiaries, entered into a sublease agreement with Sanken pursuant to which the subsidiary subleases from Sanken certain office building space in Japan. The sublease automatically renews on an annual basis unless either party provides notice to the other party and can otherwise be terminated by either party upon providing six months’ prior notice. The Company made aggregate payments of approximately $56 and $166 to Sanken under the sublease agreement during the three- and nine-month periods ended December 24, 2021, respectively, and $59 and $173 during the three- and nine-month periods ended December 25, 2020, respectively. Consulting Agreement In December 2018 and prior to Reza Kazerounian becoming a member of the Company’s board of directors, the Company entered into a board executive advisor agreement (the “Consulting Agreement”) with Mr. Kazerounian, pursuant to which the Company engaged Mr. Kazerounian to serve as executive advisor to the board of directors and the office of Chief Executive Officer. The Consulting Agreement provides for a fee payable to Mr. Kazerounian on a monthly basis in exchange for his services (which fee was reduced from $30 per month to $19 per month in connection with Mr. Kazerounian’s appointment to the board of directors in June 2018), as well as a grant of 12,000 shares of the Company’s Class L common stock and a signing bonus of $54 in connection with the execution of the Consulting Agreement. The Consulting Agreement provides that if Mr. Kazerounian’s employment is terminated by the board of directors, he will be entitled to a severance payment in the amount of $180 as well as a six-month vesting acceleration of his shares of Class L common stock. The board of directors and Mr. Kazerounian each have the right to terminate the Consulting Agreement at any time. During the three- and nine-month periods ended December 24, 2021, the Company paid aggregate fees of $69 and $191, respectively, to Mr. Kazerounian pursuant to the Consulting Agreement. During the three- and nine-month periods ended December 25, 2020, the Company paid aggregate fees of $82 and $262, respectively, to Mr. Kazerounian pursuant to the Consulting Agreement.

Summary of Significant Accounting Policies (Policies)	9 Months Ended
Summary of Significant Accounting Policies (Policies)	Dec. 24, 2021
Accounting Policies [Abstract]
Use of Estimates	Use of Estimates The preparation of consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, and disclosures of contingencies at the date of the unaudited consolidated financial statements and the reported amounts of net sales and expenses during the reporting period. Such estimates relate to useful lives of fixed and intangible assets, current expected credit losses/allowances for doubtful accounts and customer returns and sales allowances. Such estimates could also relate to the fair value of acquired assets and liabilities, including goodwill and intangible assets, net realizable value of inventory, accrued liabilities, the valuation of stock-based awards, deferred tax valuation allowances, and other reserves. On an ongoing basis, management evaluates its estimates. Actual results could differ from those estimates, and such differences may be material to the unaudited condensed consolidated financial statements.
Reclassifications	Reclassifications Certain reclassifications have been made to prior-period amounts to conform to current-period reporting classifications.
Concentrations of Credit Risk and Significant Customers	Concentrations of Credit Risk and Significant CustomersFinancial instruments that potentially subject the Company to concentrations of credit risk consist primarily of cash, cash equivalents and accounts receivable. The Company maintains its cash and cash equivalents with financial institutions that management believes to be of a high credit quality. To manage credit risk related to accounts receivables, the Company evaluates the creditworthiness of its customers and maintains allowances, to the extent necessary, for potential credit losses based upon the aging of its accounts receivable balances and known collection issues.
Recently Adopted Accounting Standards and Recently Issued Accounting Standards Not Yet Adopted	Recently Adopted Accounting Standards The Company qualifies as an “emerging growth company” as defined in the Jumpstart Our Business Startups Act of 2012 and has elected to “opt in” to the extended transition related to complying with new or revised accounting standards, which means that when a standard is issued or revised and it has different application dates for public and nonpublic companies, the Company will adopt the new or revised standard at the time nonpublic companies adopt the new or revised standard and will do so until such time that the Company either (i) irrevocably elects to “opt out” of such extended transition period or (ii) no longer qualifies as an emerging growth company. The Company may choose to early adopt any new or revised accounting standards whenever such early adoption is permitted for nonpublic companies. In February 2016, the Financial Accounting Standards Board (“FASB”) issued its new lease accounting guidance in Accounting Standards Update (“ASU”) 2016‑02, “Leases (Topic 842)” (“ASU 2016-02”), which is codified as Accounting Standard Codification (“ASC”) Topic 842 (“ASC 842”) and replaces ASC Topic 840, Leases (“ASC 840”). ASU 2016-02 and all subsequent amendments amend various aspects of existing guidance for leases and require significant additional quantitative and qualitative disclosures about lease arrangements. ASU 2016-02 requires lessees to recognize lease assets representing the right to use an underlying asset and lease liabilities representing the obligation to make lease payments over the lease term, measured on a discounted basis, for substantially all leases. ASU 2016-02 retains a distinction between finance leases and operating leases using classification criteria that are substantially similar to the previous lease guidance. Although the Company has elected to opt-in to the extended transition dates for new or revised accounting standards to align with nonpublic companies, the Company elected to early adopt ASU 2016-02 effective March 27, 2021. The Company used the optional transition method to the modified retrospective approach, which eliminates the requirement to restate the prior period financial statements. Under this transition provision, the Company has applied ASU 2016-02 to reporting periods beginning on March 27, 2021, while prior periods continue to be reported and disclosed in accordance with the legacy guidance under ASC 840. A number of practical expedients and policy elections are available under the new guidance to reduce the burden of adoption and ongoing compliance with ASC 842. The Company elected the “package of practical expedients”, which permitted the Company to retain lease classification and initial direct costs for any identified leases that existed prior to adoption of ASC 842. Under this transition guidance, the Company also did not reassess whether any existing contracts at March 27, 2021 are, or contain, leases and carried forward its initial determination under legacy lease guidance. The Company has elected not to adopt the “hindsight” practical expedient and, therefore, will measure the right-of-use (“ROU”) asset and lease liability using the remaining portion of the lease term at adoption on March 27, 2021. The Company made an accounting policy election available under the new lease standard to not recognize lease assets and lease liabilities for leases with a term of 12 months or less. For all other leases, the initial measurement of the lease liability is based on the present value of future lease payments over the lease term at the application date or the commencement date of the lease. Lease payments may include fixed rent escalation clauses or payments that depend on an index or a rate (such as the consumer price index) measured using the index or applicable rate at lease commencement. Subsequent changes in the index or rate and any other variable payments, such as market-rate base rent adjustments, are recognized as variable lease expense in the period incurred. Payments for terminating a lease are included in lease payments only when it is probable they will be incurred. To determine the present value of lease payments, the Company uses its incremental borrowing rate, as the leases generally do not have a readily determinable implicit discount rate. The Company applies judgment in assessing factors such as Company-specific credit risk, lease term, nature and quality of the underlying collateral, currency and economic environment in determining the lease-specific incremental borrowing rate. The carrying value of the ROU assets at the application date equals the lease liability adjusted for any initial direct costs incurred and lease payments made at or before the commencement date and for any lease incentives. The Company’s leases generally include a non-lease component representing additional services transferred to the Company. The Company has made an accounting policy election to account for lease and non-lease components in its contacts as a single lease component for all asset classes. The non-lease components are usually variable in nature and recorded in variable lease expense in the period incurred. Adoption of ASC 842 resulted in ROU assets of $18,403 and lease liabilities of $18,759 related to the Company’s operating leases at March 27, 2021. The Company does not have any leases classified as finance leases. The adoption of ASC 842 did not materially impact the Company’s consolidated net income or consolidated cash flows and did not result in a cumulative-effect adjustment to the opening balance of retained earnings. In June 2016, the FASB issued ASU No. 2016-13, “Measurement of Credit Losses on Financial Instruments” (“ASU 2016-13”), which adds an impairment model (known as the current expected credit loss (“CECL”) model) that is based on expected losses rather than incurred losses. Under the new guidance, an entity recognizes as an allowance its estimate of expected credit losses, which the FASB believes will result in more timely recognition of such losses. The ASU is also intended to reduce complexity by decreasing the number of credit impairment models that entities use to account for debt instruments. The Company adopted ASU 2016-13 effective March 27, 2021 and concluded that the standard update did not have a material impact on either the financial position, results of operations, cash flows, or related disclosures. There was no impact on beginning balance retained earnings upon adoption of this ASU. The Company is exposed to credit losses primarily through trade and other financing receivables arising from revenue transactions. The Company uses an aging schedule method to estimate current expected credit losses based on days of delinquency, including information about past events and current economic conditions. The Company’s accounts receivable is separated into two categories using a portfolio methodology to evaluate the allowance under the CECL impairment model based on sales categorization and similar credit quality and worthiness of the customers: original equipment manufacturers (“OEMs”) and distributors. The receivables in each category share similar risk characteristics. The change to the CECL impairment model resulted in an immaterial increase in the provision for expected credit losses compared to the allowance for doubtful accounts under the previous incurred loss method. The Company increases the allowance for expected credits losses when the Company determines all or a portion of a receivable is uncollectible. The Company recognizes recoveries as a decrease to the allowance for expected credit losses. For the three- and nine-month periods ended December 24, 2021, no material changes in the allowance occurred. Recently Issued Accounting Standards Not Yet Adopted In October 2021, the FASB issued ASU No. 2021-08, Business Combinations (Topic 805), Accounting for Contract Assets and Contract Liabilities from Contracts with Customers (“ASU 2021-08”), which eliminates the diversity in practice and inconsistency related to the accounting for acquired revenue contracts with customers in a business combination. The amendments in ASU 2021-08 require an acquiring entity to apply ASC Topic 606, Contracts with Customers (“ASC 606”), to recognize and measure contract assets and contract liabilities in a business combination as if the acquired contracts with customers were originated by the acquiring entity at the acquisition date. An acquirer may assess how the acquiree applied ASC 606 and generally should recognize and measure the acquired contract assets and contract liabilities consistent with the recognition and measurement in the acquiree’s financial statements as prepared in accordance with U.S. GAAP. If unable to rely on the acquiree’s accounting due to errors, noncompliance with U.S. GAAP, or differences in accounting policies, the acquirer should consider the terms of the acquired contracts, such as timing of payment, identify each performance obligation in the contracts, and allocate the total transaction price to each identified performance obligation on a relative standalone selling price basis as of contract inception (that is, the date the acquiree entered into the contracts) or contract modification to determine what should be recorded at the acquisition date. The guidance is effective prospectively for fiscal years beginning after December 15, 2022, including interim periods within those fiscal years. Early adoption is permitted, including in an interim period as of the beginning of the fiscal year that includes that interim period. An entity that early adopts in an interim period should apply the amendments (1) retrospectively to all business combinations for which the acquisition date occurs on or after the beginning of the fiscal year that includes the interim period of early application and (2) prospectively to all business combinations that occur on or after the date of initial application. The Company is currently in the process of evaluating the impact of this new guidance on the consolidated financial statements and the related disclosures, which will be dependent on the consummation of any future business combination. In May 2021, the FASB issued ASU No. 2021-04, Earnings Per Share (Topic 260), Debt—Modifications and Extinguishments (Subtopic 470-50), Compensation—Stock Compensation (Topic 718), and Derivatives and Hedging—Contracts in Entity’s Own Equity (Subtopic 815-40) (“ASU 2021-04”). ASU 2021-04 outlines how an entity should account for modifications made to equity-classified written call options, including stock options and warrants to purchase the entity’s own common stock. The guidance in the ASU requires an entity to treat a modification of an equity-classified written call option that does not cause the option to become liability-classified as an exchange of the original option for a new option. This guidance applies whether the modification is structured as an amendment to the terms and conditions of the equity-classified written call option or as termination of the original option and issuance of a new option. The guidance is effective prospectively for fiscal years beginning after December 15, 2021, including interim periods within those fiscal years. Early adoption is permitted, including in an interim period as of the beginning of the fiscal year that includes that interim period. The Company is currently in the process of evaluating the impact of this new guidance on the consolidated financial statements and the related disclosures.

Revenue from Contract with Customers (Tables)

9 Months Ended

Dec. 24, 2021

Revenue from Contract with Customer [Abstract]

Net Sales by Core End Market and Application

Net sales by application:


	Three-Month Period Ended				Nine-Month Period Ended
	December 24, 2021		December 25, 2020		December 24, 2021		December 25, 2020

Automotive	$	130,797	$	113,902	$	390,351	$	279,759
Industrial	31,903		23,654		98,533		65,710
Other	23,929		26,893		79,497		70,630



Total net sales	$	186,629	$	164,449	$	568,381	$	416,099

Net Sales by Product

Net sales by product:


	Three-Month Period Ended				Nine-Month Period Ended
	December 24, 2021		December 25, 2020		December 24, 2021		December 25, 2020
Power integrated circuits	$	62,859	$	54,406	$	195,054	$	146,276
Magnetic sensors	123,543		109,457		371,806		268,956
Photonics	227		586		1,521		867


Total net sales	$	186,629	$	164,449	$	568,381	$	416,099

Net Sales by Geography

Net sales by geography:


	Three-Month Period Ended				Nine-Month Period Ended
	December 24, 2021		December 25, 2020		December 24, 2021		December 25, 2020
Americas:
United States	$	26,228	$	23,934	$	80,854	$	57,892
Other Americas	4,921		5,620		16,697		10,797
EMEA:
Europe	29,891		28,239		97,108		70,459
Asia:
Japan	39,461		26,439		112,079		72,570
Greater China	48,696		46,172		142,158		116,178
South Korea	19,935		17,606		61,614		43,733
Other Asia	17,497		16,439		57,871		44,470
Total net sales	$	186,629	$	164,449	$	568,381	$	416,099

Fair Value Measurements (Tables)

9 Months Ended

Dec. 24, 2021

Fair Value Disclosures [Abstract]

Fair Value, by Balance Sheet Grouping


	Fair Value Measurement at December 24, 2021 Using:
	Level 1		Level 2		Level 3		Total
Assets:
Cash equivalents:
Money market fund deposits	$	16,348	$	—	$	—	$	16,348
Restricted cash:
Money market fund deposits	7,497		—		—		7,497
Other assets, net (long-term):
Investments in marketable securities	$	13,393	$	—	$	—	$	13,393
Total assets	$	37,238	$	—	$	—	$	37,238
Liabilities:
Other long-term liabilities:
Contingent consideration	$	—	$	—	$	2,700	$	2,700
Total liabilities	$	—	$	—	$	2,700	$	2,700


	Fair Value Measurement at March 26, 2021 Using:
	Level 1		Level 2		Level 3		Total
Assets:
Cash equivalents:
Money market fund deposits	$	16,327	$	—	$	—	$	16,327
Restricted cash:
Money market fund deposits	6,661		—		—		6,661
Total assets	$	22,988	$	—	$	—	$	22,988
Liabilities:
Other long-term liabilities:
Contingent consideration	—		—		4,800		4,800
Total liabilities	$	—	$	—	$	4,800	$	4,800

Unrealized Gains and Losses on Marketable Securities with a Readily Determinable Fair Value

The following table represents the unrealized gains and losses on investments in marketable securities held with a readily determinable fair value for the nine-month period ended December 24, 2021:



Net gains and losses recognized during the period on equity securities	$	4,482
Less: Net gains and losses recognized during the period on equity securities sold during the period	—
Unrealized gains and losses recognized during the reporting period on equity securities still held at the reporting date	$	4,482

Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation


	Level 3 Contingent Consideration
Balance at March 26, 2021	$	4,800
Change in fair value of contingent consideration	(2,100)

Balance at December 24, 2021	$	2,700

Trade Accounts Receivable, net (Tables)

9 Months Ended

Dec. 24, 2021

Receivables [Abstract]

Schedule of Trade Accounts Receivable, Net

Trade accounts receivable, net (including related party trade accounts receivable) consisted of the following:


	December 24, 2021		March 26, 2021
Trade accounts receivable	$	120,500	$	108,546
Less:
Provision for expected credit losses and allowance for doubtful accounts	(70)		(138)
Returns and sales allowances	(15,944)		(15,274)
Related party trade accounts receivable	(28,251)		(23,634)
Total	$	76,235	$	69,500

Schedule of Changes in Allowance for Doubtful Accounts and Returns and Sales Allowances

Changes in the Company’s provision for expected credit losses / allowance for doubtful accounts and returns and sales allowances were as follows:


Description	Provision for Expected Credit Losses / Allowance for Doubtful Accounts		Returns and Sales Allowances		Total
Balance at March 26, 2021	$	138	$	15,274	$	15,412
Charged to costs and expenses or revenue	(68)		114,047		113,979
Write-offs, net of recoveries	—		(113,377)		(113,377)
Balance at December 24, 2021	$	70	$	15,944	$	16,014


Description	Allowance for Doubtful Accounts		Returns and Sales Allowances		Total
Balance at March 27, 2020	$	288	$	17,185	$	17,473
Charged to costs and expenses or revenue	(150)		103,660		103,510
Write-offs, net of recoveries	—		(104,408)		(104,408)
Balance at December 25, 2020	$	138	$	16,437	$	16,575

Inventories (Tables)

9 Months Ended

Dec. 24, 2021

Inventory Disclosure [Abstract]

Schedule of Inventories

Inventories include material, labor and overhead and consisted of the following:


	December 24, 2021		March 26, 2021
Raw materials and supplies	$	11,751	$	9,629
Work in process	45,089		50,095
Finished goods	22,018		27,774

Total	$	78,858	$	87,498

Property, Plant and Equipment, net (Tables)

9 Months Ended

Dec. 24, 2021

Property, Plant and Equipment [Abstract]

Schedule of Property, Plant, and Equipment

Property, plant and equipment, net is stated at cost, and consisted of the following:


	December 24, 2021		March 26, 2021
Land	$	16,257	$	16,602
Buildings, building improvements and leasehold improvements	57,282		56,911
Machinery and equipment	528,786		491,025
Office equipment	6,252		6,281
Construction in progress	27,971		29,201
Total	636,548		600,020
Less accumulated depreciation	(428,843)		(407,627)
Total	$	207,705	$	192,393

Schedule of Long-lived Assets

The geographic locations of the Company’s long-lived assets, net, based on physical location of the assets, as of December 24, 2021 and March 26, 2021 are as follows:


	December 24, 2021		March 26, 2021
United States	$	34,793	$	36,529
Philippines	166,087		148,374
Thailand	—		1,698
Other	7,328		7,190
Total	$	208,208	$	193,791

Goodwill and Intangible Assets (Tables)

9 Months Ended

Dec. 24, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

Summary of Changes in Carrying Amount of Goodwill

The table below summarizes the changes in the carrying amount of goodwill as follows:


	Total
Balance at March 26, 2021	$	20,106

Currency translation	(63)
Balance at December 24, 2021	$	20,043

Schedule of Intangible Assets, Net

Intangible assets, net is as follows:


	December 24, 2021
Description	Gross		Accumulated Amortization		Net Carrying Amount		Weighted- Average Lives
Patents	$	35,558	$	14,580	$	20,978	10 years
Customer relationships	6,899		6,640		259		9 years
Process technology	13,100		1,470		11,630		12 years
Indefinite-lived and legacy process technology	4,050		1,650		2,400
Trademarks	200		54		146		5 years
Legacy trademarks	629		57		572
Other	32		32		—
Total	$	60,468	$	24,483	$	35,985


	March 26, 2021
Description	Gross		Accumulated Amortization		Net Carrying Amount		Weighted- Average Lives
Patents	$	32,751	$	12,307	$	20,444	10 years
Customer relationships	6,193		5,865		328		9 years
Process technology	13,100		651		12,449		12 years
Indefinite-lived and legacy process technology	4,050		1,650		2,400
Trademarks	200		24		176		5 years
Legacy trademarks	627		58		569
Other	32		32		—
Total	$	56,953	$	20,587	$	36,366

Schedule of Annual Amortization Expense

As of December 24, 2021, annual amortization expense of intangible assets for the next five fiscal years is expected to be as follows:


Remainder of 2022	$	935
2023	3,612
2024	3,480
2025	3,260
2026	3,032
Thereafter	21,666
Total	$	35,985

Other Assets, net (Tables)

9 Months Ended

Dec. 24, 2021

Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]

Schedule of Other Assets, Net

The composition of other assets, net is as follows:


	December 24, 2021		March 26, 2021
VAT receivables long-term, net	$	10,659	$	8,177
Income taxes receivable long-term	11,462		—
Investments in marketable securities (1)	13,393		—
Deposits	9,680		3,573
Prepaid contracts long-term	1,466		1,295
Deferred financing costs	74		149
Other	1,344		1,419
Total	$	48,078	$	14,613

Accrued Expenses and Other Current Liabilities (Tables)

9 Months Ended

Dec. 24, 2021

Payables and Accruals [Abstract]

Schedule of Accrued Expenses and Other Current Liabilities

The composition of accrued expenses and other current liabilities is as follows:


	December 24, 2021		March 26, 2021

Accrued management incentives	$	24,927	$	21,538
Accrued salaries and wages	16,639		15,060
Base acquisition purchase price due	2,000		14,588
Deposits on AMTC Facility	—		14,531
Accrued vacation	5,423		5,739
Accrued severance	709		572
Accrued professional fees	1,949		2,029
Accrued income taxes	2,096		514
Accrued utilities	604		623
Other current liabilities	4,915		3,738
Total	$	59,262	$	78,932

Leases (Tables)

9 Months Ended

Dec. 24, 2021

Leases [Abstract]

Schedule of Lease Costs and Other Information

Operating lease cost is recognized on a straight-line basis over the lease term. Information regarding the Company’s leases are as follows:


	Three-Month Period Ended			Nine-Month Period Ended
	December 24, 2021				December 24, 2021
Lease costs:
Operating lease expense	$	1,075			$	3,378
Short term lease expense	190				332

Other information:
Operating cash flows from operating leases	$	1,259			$	3,733
Weighted-average remaining lease term – operating leases	5.53 years				5.53 years
Weighted-average discount rate – operating leases	4.5		%		4.5		%

Schedule of Lease Liability Maturity

As of December 24, 2021, expirations of lease obligations by fiscal year were as follows:


Remainder of 2022	$	1,056
2023	3,886
2024	3,503
2025	3,070
2026	2,597
Thereafter	4,406
Total undiscounted lease payments	$	18,518
Less: present value adjustment	(2,272)
Total operating lease liabilities	$	16,246

Schedule of Future Minimum Rental Payments

Future minimum lease payments for noncancellable operating leases as reported under the previous lease guidance as of March 26, 2021 are as follows:


2022	$	2,887
2023	2,726
2024	2,644
2025	2,172
2026	1,773
Thereafter	3,713
Total	$	15,915

Other Long-Term Liabilities (Tables)

9 Months Ended

Dec. 24, 2021

Other Liabilities Disclosure [Abstract]

Schedule of Other Long-Term Liabilities

The composition of other long-term liabilities is as follows:


	December 24, 2021		March 26, 2021

Accrued management incentives	$	734	$	628
Accrued retirement	10,655		10,656
Accrued contingent consideration	2,700		4,800
Provision for uncertain tax positions (net)	2,741		2,774
Other	—		275
Total	$	16,830	$	19,133

Retirement Plans (Tables)

9 Months Ended

Dec. 24, 2021

Retirement Benefits [Abstract]

Schedule of Expense Related to Defined Benefit Plan

Expense related to the non-United States (“U.S.”). defined benefit plan was as follows:


	Three-Month Period Ended				Nine-Month Period Ended
	December 24, 2021		December 25, 2020		December 24, 2021		December 25, 2020
Service cost	$	365	$	296	$	1,119	$	843
Interest cost	158		166		485		474
Expected return on plan assets	(75)		(79)		(230)		(231)


Amortization of prior service cost	1		2		1		6
Actuarial loss	51		47		156		126
Net periodic pension expense	$	500	$	432	$	1,531	$	1,218

Fair Value of Entity's Plan Assets


	Fair Value at December 24, 2021		Level 1		Level 2		Level 3
Assets of non-U.S. defined benefit plan:
Government securities	$	2,005	$	2,005	$	—	$	—
Unit investment trust fund	1,217		—		1,217		—
Loans	578		—		—		578
Bonds	706		—		706		—
Stocks and other investments	2,338		1,224		2		1,112
Total	$	6,844	$	3,229	$	1,925	$	1,690


	Fair Value at March 26, 2021		Level 1		Level 2		Level 3
Assets of non-U.S. defined benefit plan:
Government securities	$	1,646	$	1,646	$	—	$	—
Unit investment trust fund	1,221		—		1,221		—
Loans	584		—		—		584
Bonds	1,112		—		1,112		—
Stocks and other investments	3,081		1,947		1		1,133
Total	$	7,644	$	3,593	$	2,334	$	1,717

Schedule of Changes in Fair Value of Level 3 Plan Assets

The following table shows the change in fair value of Level 3 plan assets for the nine months ended December 24, 2021:


	Level 3 Non-U.S. Defined Plan Assets
	Loans		Stocks
Balance at March 26, 2021	$	584	$	1,133
Additions during the year	308		—
Redemptions during the year	(289)		—
Revaluation of equity securities	(5)		13
Change in foreign currency exchange rates	(20)		(34)
Balance at December 24, 2021	$	578	$	1,112

Net Income per Share (Tables)

9 Months Ended

Dec. 24, 2021

Earnings Per Share [Abstract]

Schedule of Computation of Net Income per Share


	Three-Month Period Ended				Nine-Month Period Ended
	December 24, 2021		December 25, 2020		December 24, 2021		December 25, 2020
Net income attributable to Allegro MicroSystems, Inc.	$	32,936	$	(5,095)	$	93,791	$	9,309
Net income attributable to common stockholders	32,973		(5,060)		93,903		9,412
Basic weighted average shares of common stock	189,736,901		124,363,078		189,665,324		48,121,026
Dilutive effect of common stock equivalents	2,331,321		—		2,013,627		123,517,761
Diluted weighted average shares of common stock	192,068,222		124,363,078		191,678,951		171,638,787
Basic net income attributable to Allegro MicroSystems, Inc. per share	$	0.17	$	(0.04)	$	0.49	$	0.19
Basic net income attributable to common stockholders per share	$	0.17	$	(0.04)	$	0.50	$	0.20
Diluted net income attributable to Allegro MicroSystems, Inc. per share	$	0.17	$	(0.04)	$	0.49	$	0.05
Diluted net income attributable to common stockholders per share	$	0.17	$	(0.04)	$	0.49	$	0.05

Schedule of Issuable Weighted Average Share Information

The following table represents issuable weighted average share information for the respective periods:


	Three-Month Period Ended		Nine-Month Period Ended
	December 24, 2021	December 25, 2020	December 24, 2021	December 25, 2020
Restricted stock units	1,199,816	377,767	1,046,229	125,922
Performance stock units	1,117,532	422,768	959,084	140,923
Employee stock purchase plan	13,973	—	8,314	—
Shares related to Common Stock Conversion	—	56,752,747	—	123,250,916
Total	2,331,321	57,553,282	2,013,627	123,517,761

Common Stock and Stock-Based Compensation (Tables)

9 Months Ended

Dec. 24, 2021

Share-based Payment Arrangement [Abstract]

Schedule of Stock-Based Compensation Expense

The Company recorded stock-based compensation expense in the following expense categories of its unaudited consolidated statements of operations:


	Three-Month Period Ended				Nine-Month Period Ended
	December 24, 2021		December 25, 2020		December 24, 2021		December 25, 2020
Cost of sales	$	742	$	4,694	$	1,992	$	4,844
Research and development	1,019		2,984		2,814		3,037
Selling, general and administrative	5,859		38,198		13,841		39,020
Total stock-based compensation	$	7,620	$	45,876	$	18,647	$	46,901

Income Taxes (Tables)

9 Months Ended

Dec. 24, 2021

Income Tax Disclosure [Abstract]

Schedule of Tax (Benefit) Provision

The Company recorded the following tax (benefit) provision in its unaudited consolidated statements of operations:


	Three-Month Period Ended						Nine-Month Period Ended
	December 24, 2021			December 25, 2020			December 24, 2021			December 25, 2020
Operating taxes	$	6,517		$	(12,169)		$	17,785		$	(9,764)
Discrete tax items	(236)			(18,354)			(1,098)			(18,149)
Provision (benefit) for income taxes	$	6,281		$	(30,523)		$	16,687		$	(27,913)
Annual operating tax rate	16.6		%	34.2		%	16.1		%	52.8		%
Effective tax rate	16.0		%	85.8		%	15.1		%	150.9		%

Nature of the Business and Basis of Presentation (Details)	Dec. 24, 2021 location continent
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of locations \| location	16
Number of continents on which entity operates \| continent	4

Summary of Significant Accounting Policies (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended		12 Months Ended
	Dec. 24, 2021	Dec. 25, 2020	Dec. 24, 2021	Dec. 25, 2020	Mar. 26, 2021	Mar. 27, 2021
Concentration Risk [Line Items]
Operating lease right-of-use assets	$ 15,922		$ 15,922		$ 0
Total operating lease liabilities	$ 16,246		$ 16,246
Accounting Standards Update 2016-02
Concentration Risk [Line Items]
Operating lease right-of-use assets						$ 18,403
Total operating lease liabilities						$ 18,759
Revenue Benchmark \| Geographic Concentration Risk \| Non-US
Concentration Risk [Line Items]
Concentration risk, percentage	85.90%	85.40%	85.80%	86.10%
Revenue Benchmark \| Geographic Concentration Risk \| Greater China
Concentration Risk [Line Items]
Concentration risk, percentage	26.10%	28.10%	25.00%	27.90%
Revenue Benchmark \| Geographic Concentration Risk \| Japan
Concentration Risk [Line Items]
Concentration risk, percentage	21.10%	16.00%	19.70%	17.40%
Revenue Benchmark \| Geographic Concentration Risk \| South Korea
Concentration Risk [Line Items]
Concentration risk, percentage	10.70%	10.70%	10.80%	10.50%
Sanken \| Trade Accounts Receivable \| Customer Concentration Risk
Concentration Risk [Line Items]
Concentration risk, percentage			27.00%		22.70%
Sanken \| Revenue Benchmark \| Customer Concentration Risk
Concentration Risk [Line Items]
Concentration risk, percentage	21.10%	16.10%	19.70%	17.40%

Revenue from Contract with Customers - Net Sales by Application (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 24, 2021	Dec. 25, 2020	Dec. 24, 2021	Dec. 25, 2020
Disaggregation of Revenue [Line Items]
Total net sales	$ 186,629	$ 164,449	$ 568,381	$ 416,099
Automotive
Disaggregation of Revenue [Line Items]
Total net sales	130,797	113,902	390,351	279,759
Industrial
Disaggregation of Revenue [Line Items]
Total net sales	31,903	23,654	98,533	65,710
Other
Disaggregation of Revenue [Line Items]
Total net sales	$ 23,929	$ 26,893	$ 79,497	$ 70,630

- Definition

Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8906-108599

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 40
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e9031-108599

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 41
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e9038-108599

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 4
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130543-203045

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8736-108599

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8736-108599

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 42
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e9054-108599

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 5
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130545-203045

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 924
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SAB Topic 11.L)
-URI http://asc.fasb.org/extlink&oid=6472922&loc=d3e499488-122856

+ Details

Revenue from Contract with Customers - Net Sales by Product (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 24, 2021	Dec. 25, 2020	Dec. 24, 2021	Dec. 25, 2020
Disaggregation of Revenue [Line Items]
Total net sales	$ 186,629	$ 164,449	$ 568,381	$ 416,099
Power integrated circuits
Disaggregation of Revenue [Line Items]
Total net sales	62,859	54,406	195,054	146,276
Magnetic sensors
Disaggregation of Revenue [Line Items]
Total net sales	123,543	109,457	371,806	268,956
Photonics
Disaggregation of Revenue [Line Items]
Total net sales	$ 227	$ 586	$ 1,521	$ 867

- Definition

+ References

+ Details

Revenue from Contract with Customers - Net Sales by Geography (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 24, 2021	Dec. 25, 2020	Dec. 24, 2021	Dec. 25, 2020
Disaggregation of Revenue [Line Items]
Total net sales	$ 186,629	$ 164,449	$ 568,381	$ 416,099
United States
Disaggregation of Revenue [Line Items]
Total net sales	26,228	23,934	80,854	57,892
Other Americas
Disaggregation of Revenue [Line Items]
Total net sales	4,921	5,620	16,697	10,797
Europe
Disaggregation of Revenue [Line Items]
Total net sales	29,891	28,239	97,108	70,459
Japan
Disaggregation of Revenue [Line Items]
Total net sales	39,461	26,439	112,079	72,570
Greater China
Disaggregation of Revenue [Line Items]
Total net sales	48,696	46,172	142,158	116,178
South Korea
Disaggregation of Revenue [Line Items]
Total net sales	19,935	17,606	61,614	43,733
Other Asia
Disaggregation of Revenue [Line Items]
Total net sales	$ 17,497	$ 16,439	$ 57,871	$ 44,470

- Definition

+ References

+ Details

Revenue from Contract with Customers - Additional Information (Details) - USD ($) $ in Thousands	9 Months Ended
	Dec. 24, 2021	Dec. 25, 2020	Mar. 26, 2021
Revenue from Contract with Customer [Abstract]
Trade accounts receivable, returns, credits issued, and price protection adjustments, current	$ 16,014		$ 15,412
Trade accounts receivable, returns, credits issued, and price protection adjustments expense (credit)	$ 602	$ (898)

Fair Value Measurements - Assets And Liabilities Measured At Fair Value (Details) - Fair Value, Recurring - USD ($) $ in Thousands	Dec. 24, 2021	Mar. 26, 2021
Assets:
Total assets	$ 37,238	$ 22,988
Liabilities:
Contingent consideration	2,700	4,800
Total liabilities	2,700	4,800
Level 1
Assets:
Total assets	37,238	22,988
Liabilities:
Contingent consideration	0	0
Total liabilities	0	0
Level 2
Assets:
Total assets	0	0
Liabilities:
Contingent consideration	0	0
Total liabilities	0	0
Level 3
Assets:
Total assets	0	0
Liabilities:
Contingent consideration	2,700	4,800
Total liabilities	2,700	4,800
Money market fund deposits
Assets:
Cash and cash equivalents	16,348	16,327
Restricted cash	7,497	6,661
Investments in marketable securities	13,393
Money market fund deposits \| Level 1
Assets:
Cash and cash equivalents	16,348	16,327
Restricted cash	7,497	6,661
Investments in marketable securities	13,393
Money market fund deposits \| Level 2
Assets:
Cash and cash equivalents	0	0
Restricted cash	0	0
Investments in marketable securities	0
Money market fund deposits \| Level 3
Assets:
Cash and cash equivalents	0	0
Restricted cash	0	$ 0
Investments in marketable securities	$ 0

Fair Value Measurements - Unrealized Gains and Losses on Marketable Securities with a Readily Determinable Fair Value (Details) $ in Thousands	9 Months Ended
	Dec. 24, 2021 USD ($)
Fair Value Disclosures [Abstract]
Net gains and losses recognized during the period on equity securities	$ 4,482
Less: Net gains and losses recognized during the period on equity securities sold during the period	0
Unrealized gains and losses recognized during the reporting period on equity securities still held at the reporting date	$ 4,482

Fair Value Measurements - Narrative (Details) $ in Thousands	9 Months Ended
	Dec. 24, 2021 USD ($)
Fair Value Disclosures [Abstract]
Unrealized foreign currency exchange losses on equity securities	$ 278

Fair Value Measurements - Change in Fair Value of Level 3 Contingent Consideration (Details) - Fair Value, Recurring - Level 3 - Contingent Consideration Liability $ in Thousands	9 Months Ended
	Dec. 24, 2021 USD ($)
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	$ 4,800
Change in fair value of contingent consideration	(2,100)
Ending balance	$ 2,700

Trade Accounts Receivable, net - Summary of Trade Accounts Receivable, net (Details) - USD ($) $ in Thousands	Dec. 24, 2021	Mar. 26, 2021	Dec. 25, 2020	Mar. 27, 2020
Receivables [Abstract]
Trade accounts receivable	$ 120,500	$ 108,546
Less:
Provision for expected credit losses and allowance for doubtful accounts	(70)	(138)	$ (138)	$ (288)
Returns and sales allowances	(15,944)	(15,274)	$ (16,437)	$ (17,185)
Related party trade accounts receivable	(28,251)	(23,634)
Trade accounts receivable, net	$ 76,235	$ 69,500

Trade Accounts Receivable, net - Schedule of Changes in Allowance For Doubtful Accounts and Sales Returns and Sales Allowances (Details) - USD ($) $ in Thousands	9 Months Ended
	Dec. 24, 2021	Dec. 25, 2020
Provision for Expected Credit Losses / Allowance for Doubtful Accounts
Balance at the beginning of the period	$ 138	$ 288
Charged to costs and expenses or revenue	(68)	(150)
Write-offs, net of recoveries	0	0
Balance at the end of the period	70	138
Returns and Sales Allowances
Balance at the beginning of the period	15,274	17,185
Charged to costs and expenses or revenue	114,047	103,660
Write-offs, net of recoveries	(113,377)	(104,408)
Balance at the end of the period	15,944	16,437
Total
Balance at the beginning of the period	15,412	17,473
Charged to costs and expenses or revenue	113,979	103,510
Write-offs, net of recoveries	(113,377)	(104,408)
Balance at the end of the period	$ 16,014	$ 16,575

Inventories - Schedule of Inventories (Details) - USD ($) $ in Thousands	Dec. 24, 2021	Mar. 26, 2021
Inventory Disclosure [Abstract]
Raw materials and supplies	$ 11,751	$ 9,629
Work in process	45,089	50,095
Finished goods	22,018	27,774
Total	$ 78,858	$ 87,498

Inventories - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
Inventories - Narrative (Details) - USD ($) $ in Thousands	Dec. 24, 2021	Dec. 25, 2020	Dec. 24, 2021	Dec. 25, 2020
Inventory Disclosure [Abstract]
Recorded inventory provisions	$ 348	$ 885	$ 5,389	$ 2,958
Disposal Group, Not Discontinued Operations \| Voxtel Product Line
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Recorded inventory provisions	$ 0		$ 3,106

Assets Held for Sale (Details) - Disposal Group, Held-for-sale, Not Discontinued Operations - AMTC Facility $ in Thousands	Aug. 03, 2021 USD ($)
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Proceeds from divestiture of businesses	$ 27,405
Gain on final disposition	$ 370

Property, Plant and Equipment, net - Schedule of Property, Plant, and Equipment (Details) - USD ($) $ in Thousands	Dec. 24, 2021	Mar. 26, 2021
Property, Plant and Equipment [Line Items]
Total	$ 636,548	$ 600,020
Less accumulated depreciation	(428,843)	(407,627)
Total	207,705	192,393
Land
Property, Plant and Equipment [Line Items]
Total	16,257	16,602
Buildings, building improvements and leasehold improvements
Property, Plant and Equipment [Line Items]
Total	57,282	56,911
Machinery and equipment
Property, Plant and Equipment [Line Items]
Total	528,786	491,025
Office equipment
Property, Plant and Equipment [Line Items]
Total	6,252	6,281
Construction in progress
Property, Plant and Equipment [Line Items]
Total	$ 27,971	$ 29,201

Property, Plant and Equipment, net - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 24, 2021	Dec. 25, 2020	Dec. 24, 2021	Dec. 25, 2020
Property, Plant and Equipment [Abstract]
Depreciation expense	$ 10,893	$ 11,255	$ 33,235	$ 33,861
Prepaid tooling costs
Property, Plant and Equipment [Line Items]
Amortization expense	$ 31	$ 18	$ 97	$ 54

Property, Plant and Equipment, net - Schedule of Long Lived Assets (Details) - USD ($) $ in Thousands	Dec. 24, 2021	Mar. 26, 2021
Revenues from External Customers and Long-Lived Assets [Line Items]
Total	$ 208,208	$ 193,791
United States
Revenues from External Customers and Long-Lived Assets [Line Items]
Total	34,793	36,529
Philippines
Revenues from External Customers and Long-Lived Assets [Line Items]
Total	166,087	148,374
Thailand
Revenues from External Customers and Long-Lived Assets [Line Items]
Total	0	1,698
Other
Revenues from External Customers and Long-Lived Assets [Line Items]
Total	$ 7,328	$ 7,190

Goodwill and Intangible Assets - Summary of Changes in Carrying Amount of Goodwill (Details) $ in Thousands	9 Months Ended
	Dec. 24, 2021 USD ($)
Goodwill [Roll Forward]
Beginning balance	$ 20,106
Currency translation	(63)
Ending balance	$ 20,043

Goodwill and Intangible Assets - Schedule of Intangible Assets, Net (Details) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Dec. 24, 2021	Mar. 26, 2021
Finite-Lived Intangible Assets [Line Items]
Gross	$ 60,468	$ 56,953
Accumulated Amortization	24,483	20,587
Net Carrying Amount	35,985	36,366
Patents
Finite-Lived Intangible Assets [Line Items]
Gross	35,558	32,751
Accumulated Amortization	14,580	12,307
Net Carrying Amount	$ 20,978	$ 20,444
Weighted- Average Lives	10 years	10 years
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Gross	$ 6,899	$ 6,193
Accumulated Amortization	6,640	5,865
Net Carrying Amount	$ 259	$ 328
Weighted- Average Lives	9 years	9 years
Process technology
Finite-Lived Intangible Assets [Line Items]
Gross	$ 13,100	$ 13,100
Accumulated Amortization	1,470	651
Net Carrying Amount	$ 11,630	$ 12,449
Weighted- Average Lives	12 years	12 years
Indefinite-lived and legacy process technology
Finite-Lived Intangible Assets [Line Items]
Gross	$ 4,050	$ 4,050
Accumulated Amortization	1,650	1,650
Net Carrying Amount	2,400	2,400
Trademarks
Finite-Lived Intangible Assets [Line Items]
Gross	200	200
Accumulated Amortization	54	24
Net Carrying Amount	$ 146	$ 176
Weighted- Average Lives	5 years	5 years
Legacy trademarks
Finite-Lived Intangible Assets [Line Items]
Gross	$ 629	$ 627
Accumulated Amortization	57	58
Net Carrying Amount	572	569
Other
Finite-Lived Intangible Assets [Line Items]
Gross	32	32
Accumulated Amortization	32	32
Net Carrying Amount	$ 0	$ 0

Goodwill and Intangible Assets - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended		12 Months Ended
	Dec. 24, 2021	Dec. 25, 2020	Dec. 24, 2021	Dec. 25, 2020	Mar. 26, 2021
Acquired Finite-Lived Intangible Assets [Line Items]
Intangible assets amortization expense	$ 1,087	$ 926	$ 3,190	$ 2,310
Patents
Acquired Finite-Lived Intangible Assets [Line Items]
Estimated useful life			10 years		10 years

Goodwill and Intangible Assets - Future Amortization Expense (Details) - USD ($) $ in Thousands	Dec. 24, 2021	Mar. 26, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Remainder of 2022	$ 935
2023	3,612
2024	3,480
2025	3,260
2026	3,032
Thereafter	21,666
Net Carrying Amount	$ 35,985	$ 36,366

Other Assets, net (Details) - USD ($) $ in Thousands	Dec. 24, 2021	Mar. 26, 2021
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
VAT receivables long-term, net	$ 10,659	$ 8,177
Income taxes receivable long-term	11,462	0
Investments in marketable securities	13,393	0
Deposits	9,680	3,573
Prepaid contracts long-term	1,466	1,295
Deferred financing costs	74	149
Other	1,344	1,419
Total	$ 48,078	$ 14,613

Accrued Expenses and Other Current Liabilities (Details) - USD ($) $ in Thousands	Dec. 24, 2021	Mar. 26, 2021
Payables and Accruals [Abstract]
Accrued management incentives	$ 24,927	$ 21,538
Accrued salaries and wages	16,639	15,060
Base acquisition purchase price due	2,000	14,588
Deposits on AMTC Facility	0	14,531
Accrued vacation	5,423	5,739
Accrued severance	709	572
Accrued professional fees	1,949	2,029
Accrued income taxes	2,096	514
Accrued utilities	604	623
Other current liabilities	4,915	3,738
Total	$ 59,262	$ 78,932

Leases - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
Leases - Narrative (Details) - USD ($) $ in Thousands	Dec. 24, 2021	Dec. 25, 2020	Dec. 24, 2021	Dec. 25, 2020
Lessee, Lease, Description [Line Items]
Rent expense	$ 1,454	$ 1,172	$ 4,226	$ 3,477
Minimum
Lessee, Lease, Description [Line Items]
Operating lease agreement term	1 year		1 year
Maximum
Lessee, Lease, Description [Line Items]
Operating lease agreement term	10 years		10 years

Leases - Schedule of Lease Costs and Other Information (Details) $ in Thousands	3 Months Ended	9 Months Ended
	Dec. 24, 2021 USD ($)	Dec. 24, 2021 USD ($)
Lease costs:
Operating lease expense	$ 1,075	$ 3,378
Short term lease expense	190	332
Other information:
Operating cash flows from operating leases	$ 1,259	$ 3,733
Weighted-average remaining lease term – operating leases	5 years 6 months 10 days	5 years 6 months 10 days
Weighted-average discount rate – operating leases	4.50%	4.50%

Leases - Schedule of Lease Liability Maturity (Details) $ in Thousands	Dec. 24, 2021 USD ($)
Leases [Abstract]
Remainder of 2022	$ 1,056
2023	3,886
2024	3,503
2025	3,070
2026	2,597
Thereafter	4,406
Total undiscounted lease payments	18,518
Less: present value adjustment	(2,272)
Operating lease liabilities	$ 16,246

Leases - Schedule of Future Minimum Rental Payments (Details) $ in Thousands	Mar. 26, 2021 USD ($)
Leases [Abstract]
2022	$ 2,887
2023	2,726
2024	2,644
2025	2,172
2026	1,773
Thereafter	3,713
Total	$ 15,915

Debt and Other Borrowings (Details)	Sep. 30, 2020 USD ($)	Dec. 24, 2021 USD ($)	Mar. 26, 2021 USD ($)	Nov. 26, 2019 PHP (₱)	Nov. 20, 2019 PHP (₱)
Term Loan Facility \| Line of Credit
Line of Credit Facility [Line Items]
Outstanding balance		$ 25,000,000	$ 25,000,000
Term Loan Facility \| Credit Suisse AG, Cayman Islands Branch
Line of Credit Facility [Line Items]
Maximum borrowing capacity	$ 325,000,000
Deferred financing costs	9,374,000
Senior Secured Revolving Credit Facility \| Mizuho Bank, Ltd
Line of Credit Facility [Line Items]
Maximum borrowing capacity	50,000,000
Interest rate at period end		4.25%
Outstanding balance		$ 0	0
Deferred financing costs	$ 300,000
Unamortized deferred financing costs		174,000	249,000
Senior Secured Revolving Credit Facility \| Mizuho Bank, Ltd \| London Interbank Offered Rate (LIBOR)
Line of Credit Facility [Line Items]
Interest rate floor	0.50%
Senior Secured Revolving Credit Facility \| Mizuho Bank, Ltd \| Minimum \| London Interbank Offered Rate (LIBOR)
Line of Credit Facility [Line Items]
Basis spread on variable rate	3.75%
Senior Secured Revolving Credit Facility \| Mizuho Bank, Ltd \| Maximum \| London Interbank Offered Rate (LIBOR)
Line of Credit Facility [Line Items]
Basis spread on variable rate	4.00%
Unsecured Revolving Credit Facilities \| Line-of-Credit Agreement Expiring August 31, 2021 \| Line of Credit
Line of Credit Facility [Line Items]
Maximum borrowing capacity		1,196,000		₱ 60,000,000
Outstanding balance		0	0
Unsecured Revolving Credit Facilities \| Line-of-Credit Agreement Expiring June 30, 2021 \| Line of Credit
Line of Credit Facility [Line Items]
Maximum borrowing capacity		1,495,000			₱ 75,000,000
Outstanding balance		$ 0	$ 0

Other Long-Term Liabilities (Details) - USD ($) $ in Thousands	Dec. 24, 2021	Mar. 26, 2021
Other Liabilities Disclosure [Abstract]
Accrued management incentives	$ 734	$ 628
Accrued retirement	10,655	10,656
Accrued contingent consideration	2,700	4,800
Provision for uncertain tax positions (net)	2,741	2,774
Other	0	275
Total	$ 16,830	$ 19,133

Retirement Plans - Schedule of Expense Related to Defined Benefit Plan (Details) - Pension Plan - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 24, 2021	Dec. 25, 2020	Dec. 24, 2021	Dec. 25, 2020
Defined Benefit Plan Disclosure [Line Items]
Service cost	$ 365	$ 296	$ 1,119	$ 843
Interest cost	158	166	485	474
Expected return on plan assets	(75)	(79)	(230)	(231)
Amortization of prior service cost	1	2	1	6
Actuarial loss	51	47	156	126
Net periodic pension expense	$ 500	$ 432	$ 1,531	$ 1,218

Retirement Plans - Fair Value of Entity's Plan Assets (Details) - Pension Plan - USD ($) $ in Thousands	Dec. 24, 2021	Mar. 26, 2021
Defined Benefit Plan Disclosure [Line Items]
Assets of non-U.S. defined benefit plan	$ 6,844	$ 7,644
Level 1
Defined Benefit Plan Disclosure [Line Items]
Assets of non-U.S. defined benefit plan	3,229	3,593
Level 2
Defined Benefit Plan Disclosure [Line Items]
Assets of non-U.S. defined benefit plan	1,925	2,334
Level 3
Defined Benefit Plan Disclosure [Line Items]
Assets of non-U.S. defined benefit plan	1,690	1,717
Government securities
Defined Benefit Plan Disclosure [Line Items]
Assets of non-U.S. defined benefit plan	2,005	1,646
Government securities \| Level 1
Defined Benefit Plan Disclosure [Line Items]
Assets of non-U.S. defined benefit plan	2,005	1,646
Government securities \| Level 2
Defined Benefit Plan Disclosure [Line Items]
Assets of non-U.S. defined benefit plan	0	0
Government securities \| Level 3
Defined Benefit Plan Disclosure [Line Items]
Assets of non-U.S. defined benefit plan	0	0
Unit investment trust fund
Defined Benefit Plan Disclosure [Line Items]
Assets of non-U.S. defined benefit plan	1,217	1,221
Unit investment trust fund \| Level 1
Defined Benefit Plan Disclosure [Line Items]
Assets of non-U.S. defined benefit plan	0	0
Unit investment trust fund \| Level 2
Defined Benefit Plan Disclosure [Line Items]
Assets of non-U.S. defined benefit plan	1,217	1,221
Unit investment trust fund \| Level 3
Defined Benefit Plan Disclosure [Line Items]
Assets of non-U.S. defined benefit plan	0	0
Loans
Defined Benefit Plan Disclosure [Line Items]
Assets of non-U.S. defined benefit plan	578	584
Loans \| Level 1
Defined Benefit Plan Disclosure [Line Items]
Assets of non-U.S. defined benefit plan	0	0
Loans \| Level 2
Defined Benefit Plan Disclosure [Line Items]
Assets of non-U.S. defined benefit plan	0	0
Loans \| Level 3
Defined Benefit Plan Disclosure [Line Items]
Assets of non-U.S. defined benefit plan	578	584
Bonds
Defined Benefit Plan Disclosure [Line Items]
Assets of non-U.S. defined benefit plan	706	1,112
Bonds \| Level 1
Defined Benefit Plan Disclosure [Line Items]
Assets of non-U.S. defined benefit plan	0	0
Bonds \| Level 2
Defined Benefit Plan Disclosure [Line Items]
Assets of non-U.S. defined benefit plan	706	1,112
Bonds \| Level 3
Defined Benefit Plan Disclosure [Line Items]
Assets of non-U.S. defined benefit plan	0	0
Stocks and other investments
Defined Benefit Plan Disclosure [Line Items]
Assets of non-U.S. defined benefit plan	2,338	3,081
Stocks and other investments \| Level 1
Defined Benefit Plan Disclosure [Line Items]
Assets of non-U.S. defined benefit plan	1,224	1,947
Stocks and other investments \| Level 2
Defined Benefit Plan Disclosure [Line Items]
Assets of non-U.S. defined benefit plan	2	1
Stocks and other investments \| Level 3
Defined Benefit Plan Disclosure [Line Items]
Assets of non-U.S. defined benefit plan	$ 1,112	$ 1,133

Retirement Plans - Schedule of Changes in Fair Value of Level 3 Plan Assets (Details) - Pension Plan $ in Thousands	9 Months Ended
	Dec. 24, 2021 USD ($)
Defined Benefit Plan, Change in Fair Value of Plan Assets, Level 3 Reconciliation [Roll Forward]
Beginning balance	$ 7,644
Ending balance	6,844
Loans
Defined Benefit Plan, Change in Fair Value of Plan Assets, Level 3 Reconciliation [Roll Forward]
Beginning balance	584
Ending balance	578
Level 3
Defined Benefit Plan, Change in Fair Value of Plan Assets, Level 3 Reconciliation [Roll Forward]
Beginning balance	1,717
Ending balance	1,690
Level 3 \| Loans
Defined Benefit Plan, Change in Fair Value of Plan Assets, Level 3 Reconciliation [Roll Forward]
Beginning balance	584
Additions during the year	308
Redemptions during the year	(289)
Revaluation of equity securities	(5)
Change in foreign currency exchange rates	(20)
Ending balance	578
Level 3 \| Stocks
Defined Benefit Plan, Change in Fair Value of Plan Assets, Level 3 Reconciliation [Roll Forward]
Beginning balance	1,133
Additions during the year	0
Redemptions during the year	0
Revaluation of equity securities	13
Change in foreign currency exchange rates	(34)
Ending balance	$ 1,112

Retirement Plans - Narrative (Details) £ in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 24, 2021 USD ($)	Dec. 25, 2020 USD ($)	Dec. 24, 2021 USD ($)	Dec. 25, 2020 USD ($)	Dec. 24, 2021 GBP (£)	Mar. 26, 2021 USD ($)	Mar. 26, 2021 GBP (£)
Pension Plan
Defined Benefit Plan Disclosure [Line Items]
Company contributions	$ 344	$ 249	$ 1,040	$ 736
Expected contributions in current fiscal year	1,425		$ 1,425
Other Defined Benefit Plans \| Pension Promise
Defined Benefit Plan Disclosure [Line Items]
Retirement age			65 years
Other assets, net	882		$ 882		£ 663	$ 1,272	£ 928
Accrued retirement, other long-term liabilities	882		$ 882		£ 663	$ 1,272	£ 928
Defined Contribution Plan
Defined Benefit Plan Disclosure [Line Items]
Maximum employee contribution			50.00%
Employer matching contribution			100.00%
Maximum employer contribution			5.00%
Total contributions	655	1,112	$ 3,000	3,181
Defined Contribution Plan \| 401(K) Plan
Defined Benefit Plan Disclosure [Line Items]
Maximum employee contribution			35.00%
Vesting percentage			100.00%
Defined Contribution Plan \| AME Plan
Defined Benefit Plan Disclosure [Line Items]
Total contributions	$ 209	$ 207	$ 639	$ 592

Commitment and Contingencies (Details) - USD ($)	Dec. 24, 2021	Mar. 26, 2021
Commitments and Contingencies Disclosure [Abstract]
Self insurance accruals	$ 863,000	$ 1,518,000
Indemnification accruals	0	0
Environmental accruals	$ 0	$ 0

Net Income per Share - Narrative (Details)			3 Months Ended		9 Months Ended
Net Income per Share - Narrative (Details)	Nov. 02, 2020 shares	Nov. 01, 2020	Dec. 24, 2021 shares	Dec. 25, 2020 shares	Dec. 24, 2021 shares	Dec. 25, 2020 shares
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Shares issued upon conversion, including shares withheld for tax withholding obligation (in shares)	166,500,000
Diluted weighted average shares of common stock (in shares)			192,068,222	124,363,078	191,678,951	171,638,787
Common Class A
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Conversion rate	15.822
Shares returned for tax payments made on behalf of holders of common stock (in shares)	2,066,508
Common Class A \| Common Stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Priority dividend rate		8.00%
Annualized return on capital, triggering percent, remaining distributions split between Class A and Class L shareholders		8.00%
Common Class L
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Conversion rate	13.010
Shares returned for tax payments made on behalf of holders of common stock (in shares)	1,766

Net Income per Share - Schedule of Computation of Net Income per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 24, 2021	Dec. 25, 2020	Dec. 24, 2021	Dec. 25, 2020
Earnings Per Share [Abstract]
Net income attributable to Allegro MicroSystems, Inc.	$ 32,936	$ (5,095)	$ 93,791	$ 9,309
Net (loss) income attributable to common stockholders, basic	32,973	(5,060)	93,903	9,412
Net (loss) income attributable to common stockholders, diluted	$ 32,973	$ (5,060)	$ 93,903	$ 9,412
Basic weighted average shares of common stock (in shares)	189,736,901	124,363,078	189,665,324	48,121,026
Dilutive effect of common stock equivalents (in shares)	2,331,321	0	2,013,627	123,517,761
Diluted weighted average common shares (in shares)	192,068,222	124,363,078	191,678,951	171,638,787
Basic net income attributable to Allegro MicroSystems, Inc. per share (in dollars per share)	$ 0.17	$ (0.04)	$ 0.49	$ 0.19
Basic net income attributable to common stockholders per share (in dollars per share)	0.17	(0.04)	0.50	0.20
Diluted net income attributable to Allegro MicroSystems, Inc. per share (in dollars per share)	0.17	(0.04)	0.49	0.05
Diluted net income attributable to common stockholders per share (in dollars per share)	$ 0.17	$ (0.04)	$ 0.49	$ 0.05

Net Income per Share - Schedule of Issuable Weighted Average Share Information (Details) - shares	3 Months Ended		9 Months Ended
	Dec. 24, 2021	Dec. 25, 2020	Dec. 24, 2021	Dec. 25, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Dilutive effect of common stock equivalents (in shares)	2,331,321	57,553,282	2,013,627	123,517,761
Common Class A and Common Class L
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Dilutive effect of common stock equivalents (in shares)	0	56,752,747	0	123,250,916
Restricted stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Dilutive effect of common stock equivalents (in shares)	1,199,816	377,767	1,046,229	125,922
Performance stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Dilutive effect of common stock equivalents (in shares)	1,117,532	422,768	959,084	140,923
Employee stock purchase plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Dilutive effect of common stock equivalents (in shares)	13,973	0	8,314	0

Common Stock and Stock-Based Compensation - Narrative (Details) $ / shares in Units, $ in Thousands	9 Months Ended
	Dec. 24, 2021 USD ($) $ / shares shares
Restricted stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Grants in period (in shares)	1,030,887
Grant date fair value (in dollars per share) \| $ / shares	$ 25.47
Stock-based compensation expense not yet recorded \| $	$ 25,133
Weighted-average remaining contractual life	1 year 4 months 2 days
Vested during period (in shares)	168,717
Performance stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense not yet recorded \| $	$ 13,765
Weighted-average remaining contractual life	1 year 9 months 10 days
Vested during period (in shares)	0
Intrinsic value, vested \| $	$ 36,708
Performance stock units \| Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Inclusion percentage of target goals	100.00%
Performance stock units \| Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Inclusion percentage of target goals	200.00%
Restricted Common Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted-average remaining contractual life	1 year 25 days
Vested during period (in shares)	227,530
Cancelled (in shares)	24,014
Unvested shares of restricted commons stock (in shares)	154,783
Weighted-average grant date fair value (in dollars per share) \| $ / shares	$ 14.00

Common Stock and Stock-Based Compensation - Schedule of Stock-Based Compensation Expense (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 24, 2021	Dec. 25, 2020	Dec. 24, 2021	Dec. 25, 2020
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock-based compensation	$ 7,620	$ 45,876	$ 18,647	$ 46,901
Cost of sales
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock-based compensation	742	4,694	1,992	4,844
Research and development
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock-based compensation	1,019	2,984	2,814	3,037
Selling, general and administrative
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock-based compensation	$ 5,859	$ 38,198	$ 13,841	$ 39,020

Income Taxes - Schedule of Tax Provision (Details) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 24, 2021 USD ($)	Dec. 25, 2020 USD ($)	Dec. 24, 2021 USD ($)	Dec. 25, 2020 USD ($)
Income Tax Disclosure [Abstract]
Operating taxes	$ 6,517	$ (12,169)	$ 17,785	$ (9,764)
Discrete tax items	(236)	(18,354)	(1,098)	(18,149)
Provision (benefit) for income taxes	$ 6,281	$ (30,523)	$ 16,687	$ (27,913)
Annual operating tax rate	0.166	0.342	0.161	0.528
Effective tax rate	16.00%	85.80%	15.10%	150.90%

- Definition

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

+ References + Details

Income Taxes - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
Income Taxes - Narrative (Details) - USD ($) $ in Thousands	Dec. 24, 2021	Dec. 25, 2020	Dec. 24, 2021	Dec. 25, 2020
Income Tax Contingency [Line Items]
Income tax provision (benefit)	$ 6,281	$ (30,523)	$ 16,687	$ (27,913)
Effective tax rate	16.00%	85.80%	15.10%	150.90%
Stock-based compensation	$ 7,620	$ 45,876	$ 18,647	$ 46,901
Effective income tax rate reconciliation, deduction, dividends				16,000
IPO
Income Tax Contingency [Line Items]
Stock-based compensation				$ 40,440

- Definition

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

+ References + Details

Related Party Transactions (Details) - USD ($)			1 Months Ended	3 Months Ended		9 Months Ended
Related Party Transactions (Details) - USD ($)	Jan. 01, 2023	Dec. 02, 2021	Sep. 30, 2018	Dec. 24, 2021	Dec. 25, 2020	Dec. 24, 2021	Dec. 25, 2020	Mar. 26, 2021	Jun. 30, 2018	May 31, 2018
Related Party Transaction [Line Items]
Total net sales				$ 186,629,000	$ 164,449,000	$ 568,381,000	$ 416,099,000
Trade and other accounts receivable due from related party				28,305,000		28,305,000		$ 23,832,000
Amounts due to related party				4,051,000		4,051,000		2,353,000
Rent expense				1,454,000	1,172,000	4,226,000	3,477,000
Related Party Revenue
Related Party Transaction [Line Items]
Total net sales				39,461,000	26,439,000	112,079,000	72,570,000
Sanken
Related Party Transaction [Line Items]
Trade and other accounts receivable due from related party				28,251,000		28,251,000		21,595,000
Other accounts receivable from related party				54,000		$ 54,000		198,000
Option to terminate, period of notice						6 months
Rent expense				56,000	59,000	$ 166,000	173,000
Sanken \| Related Party Revenue
Related Party Transaction [Line Items]
Total net sales				39,461,000	26,439,000	112,079,000	72,570,000
PSL
Related Party Transaction [Line Items]
Amounts due to related party				4,051,000		4,051,000		1,739,000
Purchases from related party				11,837,000	11,558,000	38,346,000	33,448,000
PSL \| Loans Payable \| Initial PSL Loan
Related Party Transaction [Line Items]
Face amount		$ 7,500,000
Stated interest rate		1.26%
Term		4 years
PSL \| Loans Payable \| Secondary PSL Loan \| Forecast
Related Party Transaction [Line Items]
Face amount	$ 7,500,000
Stated interest rate	1.26%
Term	4 years
PSL \| IC Technology Development Agreement
Related Party Transaction [Line Items]
Fees received				0	300,000	0	900,000
Fees paid				0	300,000	0	900,000
PSL \| Discrete Technology Development Agreement
Related Party Transaction [Line Items]
Amounts due to related party								614,000
PSL \| Price Support Payment
Related Party Transaction [Line Items]
Purchases from related party					1,500,000		5,000,000
Sanken Electric Europe Ltd.
Related Party Transaction [Line Items]
Trade and other accounts receivable due from related party				0		0		$ 1,272,000
Director
Related Party Transaction [Line Items]
Fees paid				$ 69,000	$ 82,000	$ 191,000	$ 262,000
Monthly fee payable									$ 19,000	$ 30,000
Signing fee			$ 54,000
Severance payment if terminated			$ 180,000
Accelerated vesting, acceleration period			6 months
Director \| Common Class L
Related Party Transaction [Line Items]
Shares granted (in shares)			12,000,000