0000866291-22-000011 | 10-K | XBRL Viewer

Print Document View Excel Document

Cover Page - USD ($) $ in Billions	12 Months Ended
Cover Page - USD ($) $ in Billions	Mar. 25, 2022	May 06, 2022	Sep. 24, 2021
Cover [Abstract]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Mar. 25, 2022
Current Fiscal Year End Date	--03-25
Document Transition Report	false
Entity File Number	001-39675
Entity Registrant Name	ALLEGRO MICROSYSTEMS, INC.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	46-2405937
Entity Address, Address Line One	955 Perimeter Road
Entity Address, City or Town	Manchester,
Entity Address, State or Province	NH
Entity Address, Postal Zip Code	03103
City Area Code	603
Local Phone Number	626-2300
Title of 12(b) Security	Common Stock, par value $0.01 per share
Trading Symbol	ALGM
Security Exchange Name	NASDAQ
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	true
Entity Shell Company	false
Entity Public Float			$ 1.9
Entity Common Stock, Shares Outstanding (in shares)		190,500,630
Documents Incorporated by Reference	Portions of the registrant’s proxy statement for its 2022 Annual Meeting of Stockholders to be filed pursuant to Regulation 14A within 120 days of the end of the registrant’s fiscal year ended March 25, 2022 are incorporated by reference into Part III of this Annual Report on Form 10-K to the extent stated herein.
Entity Central Index Key	0000866291
Amendment Flag	false
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	FY

Audit Information	12 Months Ended
Audit Information	Mar. 25, 2022
Auditor Information [Abstract]
Auditor Name	GRANT THORNTON LLP
Auditor Location	Boston, Massachusetts
Auditor Firm ID	248

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Mar. 25, 2022	Mar. 26, 2021
Current assets:
Cash and cash equivalents	$ 282,383	$ 197,214
Restricted cash	7,416	6,661
Trade accounts receivable, net of provision for expected credit losses of $105 at March 25, 2022 and allowances for doubtful accounts $138 at March 26, 2021	87,359	69,500
Trade and other accounts receivable due from related party	27,360	23,832
Accounts receivable - other	4,144	1,516
Inventories	86,160	87,498
Prepaid expenses and other current assets	14,995	18,374
Current portion of related party note receivable	1,875	0
Assets held for sale	0	25,969
Total current assets	511,692	430,564
Property, plant and equipment, net	210,028	192,393
Operating lease right-of-use assets	16,049	0
Deferred income tax assets	17,967	26,972
Goodwill	20,009	20,106
Intangible assets, net	35,970	36,366
Related party note receivable, less current portion	5,625	0
Equity investment in related party	27,671	26,664
Other assets, net	47,609	14,613
Total assets	892,620	747,678
Current liabilities:
Trade accounts payable	29,836	35,389
Amounts due to related party	5,222	2,353
Accrued expenses and other current liabilities	65,459	78,932
Current portion of operating lease liabilities	3,706	0
Total current liabilities	104,223	116,674
Obligations due under Senior Secured Credit Facilities	25,000	25,000
Operating lease liabilities, less current portion	12,748	0
Other long-term liabilities	15,286	19,133
Total liabilities	157,257	160,807
Commitments and contingencies
Stockholders' Equity:
Preferred Stock, $0.01 par value; 20,000,000 shares authorized, no shares issued or outstanding at March 25, 2022 and March 26, 2021	0	0
Common stock, $0.01 par value; 1,000,000,000 shares authorized, 190,473,595 shares issued and outstanding at March 25, 2022; 1,000,000,000 shares authorized, 189,588,161 issued and outstanding at March 26, 2021	1,905	1,896
Additional paid-in capital	627,792	592,170
Retained earnings	122,958	3,551
Accumulated other comprehensive loss	(18,448)	(11,865)
Equity attributable to Allegro MicroSystems, Inc.	734,207	585,752
Non-controlling interests	1,156	1,119
Total stockholders' equity	735,363	586,871
Total liabilities, non-controlling interest and stockholders' equity	$ 892,620	$ 747,678

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Mar. 25, 2022	Mar. 26, 2021
Statement of Financial Position [Abstract]
Allowances for doubtful accounts	$ 105	$ 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)	190,473,595	189,588,161
Common stock, shares outstanding (in shares)	190,473,595	189,588,161

Consolidated Statements of Operations - USD ($) $ in Thousands	12 Months Ended
	Mar. 25, 2022	Mar. 26, 2021	Mar. 27, 2020
Net sales	$ 768,674	$ 591,207	$ 650,089
Cost of goods sold	361,214	312,305	388,813
Gross profit	407,460	278,902	261,276
Operating expenses:
Research and development	121,873	108,649	102,052
Selling, general and administrative	150,937	153,476	106,396
Impairment of long-lived assets	0	7,119	0
Change in fair value of contingent consideration	(2,000)	(2,500)	0
Total operating expenses	270,810	266,744	208,448
Operating income	136,650	12,158	52,828
Other income (expense):
Loss on debt extinguishment	0	(9,055)	0
Interest expense, net	(1,057)	(2,603)	(110)
Foreign currency transaction (loss) gain	(568)	(2,889)	1,391
Income in earnings of equity investment	1,007	1,413	0
Other, net	4,714	(475)	(831)
Income (loss) before income taxes	140,746	(1,451)	53,278
Income tax provision (benefit)	21,191	(19,552)	16,173
Net income	119,555	18,101	37,105
Net income attributable to non-controlling interests	148	148	134
Net income attributable to Allegro MicroSystems, Inc.	$ 119,407	$ 17,953	$ 36,971
Net income attributable to Allegro MicroSystems, Inc. per share:
Basic (in dollars per share)	$ 0.63	$ 0.22	$ 3.70
Diluted (in dollars per share)	$ 0.62	$ 0.10	$ 3.70
Weighted average shares outstanding:
Basic (in shares)	189,748,427	83,448,055	10,000,000
Diluted (in shares)	191,811,205	176,416,645	10,000,000
Non-Related Party Revenue
Net sales	$ 619,861	$ 486,546	$ 465,532
Related Party Revenue
Net sales	$ 148,813	$ 104,661	$ 184,557

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	12 Months Ended
	Mar. 25, 2022	Mar. 26, 2021	Mar. 27, 2020
Statement of Comprehensive Income [Abstract]
Net income	$ 119,555	$ 18,101	$ 37,105
Net income attributable to non-controlling interests	148	148	134
Net income attributable to Allegro MicroSystems, Inc.	119,407	17,953	36,971
Other comprehensive income (loss):
Foreign currency translation adjustment	(8,110)	9,304	(3,153)
Net actuarial gain (loss) amortization of net transition obligation and prior service costs related to defined benefit plans, net of tax of $(472), $391 and $233 in 2022, 2021 and 2020, respectively	1,416	(1,172)	(543)
Total other comprehensive (loss) income	(6,694)	8,132	(3,696)
Comprehensive income	112,713	26,085	33,275
Comprehensive income (loss) attributable to non-controlling interest	111	(21)	(2)
Comprehensive income attributable to Allegro MicroSystems, Inc.	$ 112,824	$ 26,064	$ 33,273

Consolidated Statements of Comprehensive Income (Parenthetical) - USD ($) $ in Thousands	12 Months Ended
	Mar. 25, 2022	Mar. 26, 2021	Mar. 27, 2020
Statement of Comprehensive Income [Abstract]
Tax (expense) benefit	$ (472)	$ 391	$ 233

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 Stock, Class A Common Stock	Common Stock, Class L Common Stock
Beginning balance (in shares) at Mar. 29, 2019		0					10,000,000	607,620
Beginning balance at Mar. 29, 2019	$ 589,788	$ 0	$ 447,762	$ 157,384	$ (16,278)	$ 814	$ 100	$ 6
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	37,105			36,971		134
Capital contribution	9,500		9,500
Stock-based compensation	1,435		1,435
Issuance of common stock (in shares)								14,850
Foreign currency translation adjustment	(3,153)				(3,155)	2
Net actuarial loss and amortization of net transition obligation and prior service costs related to defined benefit plans, net of tax	(543)				(543)
Ending balance (in shares) at Mar. 27, 2020		0					10,000,000	622,470
Ending 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	18,101			17,953		148
Capitalization changes related to organizational structure of affiliates and direct and indirect interests in subsidiaries	(19,165)		(19,165)
Stock-based compensation (in shares)		156,435
Stock-based compensation	49,872	$ 2	49,870
Issuance of common stock (in shares)		25,000,000						15,828
Issuance of common stock	321,425	$ 250	321,175
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	0	$ 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)		(191,243)	(208,757)
Foreign currency translation adjustment	9,304				9,283	21
Net actuarial loss and amortization of net transition obligation and prior service costs related to defined benefit plans, net of tax	$ (1,172)				(1,172)
Ending balance (in shares) at Mar. 26, 2021	189,588,161	189,588,161					0	0
Ending balance at Mar. 26, 2021	$ 586,871	$ 1,896	592,170	3,551	(11,865)	1,119	$ 0	$ 0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	119,555			119,407		148
Stock-based compensation (in shares)		759,667
Stock-based compensation	33,437	$ 8	33,429
Employee stock purchase plan issuances (in shares)		125,767
Employee stock purchase plan issuances	2,832	$ 1	2,831
Payments of taxes withheld on net settlement of equity awards	(638)		(638)
Foreign currency translation adjustment	(8,110)				(7,999)	(111)
Net actuarial loss and amortization of net transition obligation and prior service costs related to defined benefit plans, net of tax	$ 1,416				1,416
Ending balance (in shares) at Mar. 25, 2022	190,473,595	190,473,595					0	0
Ending balance at Mar. 25, 2022	$ 735,363	$ 1,905	$ 627,792	$ 122,958	$ (18,448)	$ 1,156	$ 0	$ 0

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Mar. 25, 2022	Mar. 26, 2021	Mar. 27, 2020
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income	$ 119,555	$ 18,101	$ 37,105
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	48,527	48,307	64,048
Amortization of debt issuance costs	101	226	0
Deferred income taxes	7,498	(18,931)	(4,909)
Stock-based compensation	33,548	49,870	1,435
(Gain) loss on disposal of assets	(349)	269	698
Loss on debt extinguishment	0	9,055	0
Change in fair value of contingent consideration	(2,000)	(2,500)	0
Impairment of long-lived assets	0	7,119	0
Provisions for inventory and credit losses/bad debt	6,297	5,019	3,891
Unrealized gains on marketable securities	(3,722)	0	0
Changes in operating assets and liabilities:
Trade accounts receivable	(18,347)	(9,303)	16,441
Accounts receivable - other	(2,668)	(28)	346
Inventories	(4,471)	7,641	346
Prepaid expenses and other assets	(19,450)	(29,047)	2,629
Trade accounts payable	(4,348)	15,099	(3,122)
Due to/from related parties	(659)	4,878	(23,946)
Accrued expenses and other current and long-term liabilities	(3,383)	14,795	(13,543)
Net cash provided by operating activities	156,129	120,570	81,419
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchases of property, plant and equipment	(69,941)	(40,673)	(45,615)
Acquisition of business, net of cash acquired	(14,549)	(11,555)	0
Proceeds from sales of property, plant and equipment	27,408	318	3,936
Investments in marketable securities	(9,189)	0	0
Contribution of cash balances due to divestiture of subsidiary	0	(16,335)	0
Net cash used in investing activities	(66,271)	(68,245)	(41,679)
CASH FLOWS FROM FINANCING ACTIVITIES:
Related party note receivable	(7,500)	51,377	30,000
Proceeds from initial public offering, net of underwriting discounts and other offering costs	0	321,425	0
Proceeds from issuance of common stock under equity award and purchase plans less payments for taxes related to net share settlement of equity awards	2,193	(27,707)	0
Dividends paid	0	(400,000)	0
Borrowings of senior secured debt, net of deferred financing costs	0	315,719	43,000
Repayment of senior secured debt	0	(300,000)	0
Repayment of unsecured credit facilities	0	(33,000)	0
Capital contribution	0	0	9,500
Net cash (used in) provided by financing activities	(5,307)	(72,186)	82,500
Effect of exchange rate changes on Cash and cash equivalents and Restricted cash	1,373	3,860	(5,621)
Net increase (decrease) in Cash and cash equivalents and Restricted cash	85,924	(16,001)	116,619
Cash and cash equivalents and Restricted cash at beginning of period	203,875	219,876	103,257
CASH AND CASH EQUIVALENTS AND RESTRICTED CASH AT END OF PERIOD:	289,799	203,875	219,876
RECONCILIATION OF CASH AND CASH EQUIVALENTS AND RESTRICTED CASH:
Cash and cash equivalents	282,383	197,214	214,491
Restricted cash	7,416	6,661	5,385
Cash and cash equivalents and Restricted cash	289,799	203,875	219,876
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION:
Cash paid for interest	813	2,746	2,448
Cash paid for income taxes	22,195	8,908	15,873
Non-cash transactions:
Changes in Trade accounts payable related to Property, plant and equipment, net	(2,021)	(3,226)	(1,542)
Assets held for sale transferred from property, plant and equipment, net	0	25,969	0
Loans to cover purchase of common stock under employee stock plan	0	171	232
Recognition of right of use assets and lease liability upon adoption of new accounting standard	$ 356	$ 0	$ 0

Nature of the Business and Basis of Presentation	12 Months Ended
Nature of the Business and Basis of Presentation	Mar. 25, 2022
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 was incorporated under the laws of Delaware on March 30, 2013 under the name of Sanken North America, Inc. (“SKNA”) as a wholly owned subsidiary of Sanken Electric Co., Ltd. (“Sanken”). In October 2017, Sanken sold 28.8% of the common stock of SKNA to One Equity Partners (“OEP”). In April 2018, SKNA filed a certificate of amendment in the state of Delaware to change its name to Allegro MicroSystems, Inc. The Company is headquartered in Manchester, New Hampshire and has a global footprint with 16 locations across four continents. On November 2, 2020, the Company completed its Initial Public Offering (“IPO”) of 28,750,000 shares of its common stock at an offering price of $14.00 per share, of which 25,000,000 shares were sold by the Company and 3,750,000 shares were sold by selling stockholders, resulting in net proceeds to the Company of approximately $321,425 after deducting $20,125 of underwriting discounts and $8,450 of offering costs. The Company’s common stock is now listed on the Nasdaq Global Select Market under the ticker symbol “ALGM.” On March 28, 2020, the Company entered into an agreement to divest a majority of its ownership interest in Polar Semiconductor, Inc. (“PSL”) to Sanken, in order to better align with its fabless, asset-lite scalable manufacturing strategy (the “PSL Divestiture”). In order to affect this in-kind, non-cash transaction, Sanken contributed the forgiveness of the fair value of the entire related party notes payable of $42,700 owed to Sanken and the Company contributed the forgiveness of the fair value of $15,000 out of the $66,377 total debt owed by PSL to the Company, which was previously eliminated in consolidation. The entire net receivable balance of $51,377 plus accrued interest of $762 was repaid on October 14, 2020. Following the divestiture, Sanken held a 70% majority share in PSL with the Company retaining a 30% minority shareholder interest. The investment was recorded for the 30%, totaling $25,250 at the divestiture date. Beginning with reporting periods on and after March 28, 2020, the investment is included on the Company’s balance sheet as an equity investment in a related party, including $1,007 and $1,413 of income earned during the fiscal years ended March 25, 2022 and March 26, 2021. In addition, the difference between the fair value contributed by both parties at the consummation of this transaction and the book value was treated as an adjustment of capitalization changes related to organizational structure of affiliates and direct and indirect interests in subsidiaries within additional paid-in capital of $19,165 at March 26, 2021. This amount includes an estimated tax effect of $1,552 for the fiscal year ended March 26, 2021. On March 28, 2020, in connection with the divestiture described above, the Company also formally terminated its distribution agreement with Sanken to distribute Sanken’s products and entered into a transitional services agreement with PSL, which contracted with Sanken as its new channel for fulfillment of Sanken product sales in North America and Europe. Sanken will continue to provide distribution support for the Company’s products in Japan. See Note 21, “Related Party Transactions” for further discussion. Impact of the COVID-19 Pandemic On March 11, 2020, the COVID-19 outbreak was declared a pandemic by the World Health Organization. The pandemic has resulted in governments around the world implementing increasingly stringent measures to help control the spread of the virus, including quarantines, “shelter in place” and “stay at home” orders, travel restrictions, business curtailments, school closures and other measures. In addition, governments and central banks in several parts of the world have enacted fiscal and monetary stimulus measures to counteract the impacts of the COVID-19 pandemic. The Company continues to monitor the rapidly evolving conditions and circumstances as well as guidance from international and domestic authorities, including public health authorities, and the Company may need to take additional actions based on their recommendations. There is considerable uncertainty regarding the impact on the Company’s business stemming from current measures and potential future measures that could restrict access to the Company’s facilities, limit manufacturing and support operations and place restrictions on the Company’s workforce and suppliers. The measures implemented by various authorities related to the COVID-19 pandemic have caused the Company to change its business practices, including those related to where employees work, the distance between employees in the Company’s facilities, limitations on the in-person meetings between employees and with customers, suppliers, service providers, and stakeholders, as well as restrictions on business travel to domestic and international locations or to attend trade shows, investor conferences and other events. The full extent to which the ongoing COVID-19 pandemic adversely affects the Company’s financial performance will depend on future developments, many of which are outside of the Company’s control, are highly uncertain and cannot be predicted, including, but not limited to, the duration and spread of the pandemic, its severity, the effectiveness of actions to contain the virus or treat its impact and how quickly and to what extent normal economic and operating conditions can resume. The COVID-19 pandemic could also result in additional governmental restrictions and regulations, which could adversely affect the Company’s business and financial results. In addition, a recession, depression or other sustained adverse market impact resulting from COVID-19 could materially and adversely affect the Company’s business and its access to needed capital and liquidity. Even after the COVID-19 pandemic has lessened or subsided, the Company may continue to experience adverse impacts on its business and financial performance as a result of its global economic impact. The COVID-19 pandemic may also heighten other risks. For example, if the business impacts of COVID-19 are prolonged, this could cause the Company to recognize impairments for goodwill and certain long-lived assets including amortizable intangible assets. The Company has taken actions to mitigate its financial risk given the uncertainty in global markets caused by the COVID-19 pandemic. During the fourth quarter of fiscal year 2020, the Company borrowed $43,000 under its revolving credit facilities. The borrowing was made as part of the Company’s ongoing efforts to preserve financial flexibility in light of the current uncertainty in the global markets and related effects on the Company’s business resulting from the COVID-19 pandemic. In connection with entering into a new revolving credit facility on September 30, 2020, the Company used cash on hand to repay all amounts outstanding under the line of credit and terminated all commitments thereunder. On March 27, 2020, the Coronavirus Aid, Relief and Economic Security Act (“the CARES Act”) was signed into law. The CARES Act contains numerous tax provisions including a correction to the applicable depreciation rates available in the original Tax Cuts and Jobs Act of 2017 (“TCJA”) for Qualified Improvement Property (“QIP”), temporarily establishes a five-year carryback period for current net operating losses (“NOL”), and contains a provision for deferred payment of 2020 employer payroll taxes. The Company currently estimates cash tax benefits of the QIP adjustment and NOL carryback period to be $12.8 million. Financial Periods The Company’s fiscal year is the 52-week or 53-week period ending on the Friday closest to the last day in March. The Company’s 2022 fiscal year ended March 25, 2022 (“fiscal year 2022”), 2021 fiscal year ended March 26, 2021 (“fiscal year 2021”) and 2020 fiscal year ended March 27, 2020 (“fiscal year 2020”) were 52-week periods.

Summary of Significant Accounting Policies

12 Months Ended

Mar. 25, 2022

Accounting Policies [Abstract]

Summary of Significant Accounting Policies

Use of Estimates

The preparation of consolidated financial statements in conformity with 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 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, allowances for doubtful accounts and customer returns and sales allowances. Such estimates could also relate to the 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 consolidated financial statements.

Reclassifications

Certain reclassifications have been made to prior-period amounts to conform to current-period reporting classifications.

Business Segment Information

The Company operates in one segment which involves the design, development, production and distribution of various integrated circuits in various markets worldwide. The Company has a single, company-wide management team that administers all properties as a whole rather than as discrete operating segments. The chief operating decision maker, who is the Company’s chief executive officer, measures financial performance as a single enterprise and not on legal entity or end market basis. Throughout the year, the chief operating decision maker allocates capital resources on a project-by-project basis across the Company’s entire asset base to maximize profitability without regard to legal entity or end market basis. The Company operates in a number of countries throughout the world in a variety of product lines through its business unit structure.

Foreign Currency Translation and Transactions

The Company’s reporting currency is the U.S. Dollar. The financial statements of the Company’s foreign subsidiaries are translated from local currency into U.S. dollars using the current exchange rate at the balance sheet date for assets and liabilities, and the average exchange rate in effect during the period for net sales and expenses. The functional currency for the Company’s international subsidiaries is considered to be the local currency for each entity, and, accordingly, translation adjustments for these entities are included as a component of accumulated other comprehensive loss in the Company’s consolidated balance sheets.

Non-Controlling Interest

The Company, through one of its wholly owned subsidiaries, established an affiliated entity in Philippines for the primary purpose of purchasing, selling, leasing, developing and otherwise managing real estate acquired by the Company in the Philippines. The Company owns 40% of the equity interest in this entity and the remaining 60% is held in a trust for the benefit of its employee retirement fund. The portion of the results of operations of this entity is shown as net income attributable to the non-controlling interest in the Company’s consolidated statements of operations for fiscal 2022, 2021 and 2020. Additionally, the cumulative portion of the results of operations of this entity along with the interest in the net assets is shown as a component of non-controlling interest in the Company’s consolidated balance sheets.

Cash Equivalents and Restricted Cash

The Company considers all highly liquid instruments with original maturities of three months or less at the time of acquisition to be cash equivalents. At March 25, 2022 and March 26, 2021, the Company maintained investments in an interest-bearing cash account. Because of the investment’s short term to maturity and the investment’s relative price insensitivity to changes in market interest rates, the Company notes that cost approximates fair value for this investment. As a result, there were no realized or unrealized gains or losses for the fiscal years ended March 25, 2022, March 26, 2021 and March 27, 2020. The Company has restricted cash, the use of which is restricted to the benefit of employees through a deferred compensation program.

Fair Value of Financial Instruments

Certain assets and liabilities are carried at fair value under GAAP. Fair value is the exchange price that would be received for an asset or paid to transfer a liability (at exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. The Company establishes a fair value hierarchy that requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. The standard describes three levels of inputs that may be used to measure fair value, which are provided below:

Level 1 — Quoted prices in active markets for identical assets or liabilities.

Level 2 — Observable inputs (other than Level 1 prices) such as quoted prices for similar assets or liabilities, quoted prices in markets that are not active, or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities.

Level 3 — Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. Level 3 assets and liabilities include financial instruments whose value is determined using pricing models, discounted cash flow methodologies, or similar techniques, as well as instruments for which the determination of fair value requires significant management judgment or examination.

The categorization of a financial instrument within the valuation hierarchy is based on the lowest level of input that is significant to the fair value measurement.

The Company’s cash equivalents and restricted cash are carried at fair values as determined according to the fair value hierarchy described above (see Note 4, “Fair Value Measurements”). The carrying value of accounts receivable, assets held for sale, notes receivables, accounts payable and accrued expenses approximate their respective fair value due to the short-term nature of these assets and liabilities. The carrying value of outstanding borrowings under the line of credit agreements approximates fair value as it bears interest at a rate approximating a market interest rate.

Related party note receivable was classified as held-for-investment based on management’s intent and ability to hold the loan for the foreseeable future or to maturity. Loans held-for investment are carried at amortized cost and reduced by a valuation allowance for estimated credit losses, as necessary. The Company recognizes interest income on loans, including the amortization of discounts and premiums, loan fees paid and received, using the interest method. The interest method is

applied on a loan-by-loan basis when collectability of the future payments is reasonably assured. Premiums and discounts are recognized as yield adjustments over the term of the related loans.

A detailed description of fair value measurement of the assets of the non-U.S. defined benefit plan is included in Note 16, “Retirement Plans.”

Trade accounts receivable, net

A receivable is a right to consideration that is unconditional (i.e., only the passage of time is required before payment is due). Accounts receivables are presented net of an allowance for doubtful accounts, which is an estimate of amounts that may not be collectible.

The allowance for doubtful accounts is our estimate of current expected credit losses (“CECL”) based on historical loss experience. The Company periodically performs detailed reviews to assess the adequacy of the allowance. The Company exercises judgment in estimating the timing, frequency and severity of losses. 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, as well as future forecasts of 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 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. Adjustments to the allowance for doubtful accounts are recorded as selling, general and administrative expenses in the consolidated statements of operations.

Inventories

Inventories are stated at the lower of cost or net realizable value, with cost being determined on a first-in, first-out basis. The Company records inventory provisions when conditions exist that suggest that inventory may be in excess of anticipated demand, is obsolete based upon expected future demand for products and market conditions, or quality related rejections. These provisions are reported as a reduction to raw materials and supplies, work in process and finished goods. The Company regularly evaluates the ability to realize the value of inventory based on a combination of factors, including historical usage rates, forecasted sales or usage, and product end of life dates. Assumptions used in determining management’s estimates of future product demand may prove to be incorrect, in which case the provision required for excess and obsolete inventory would have to be adjusted in the future. Although the Company performs a detailed review of its forecasts of future product demand, any significant unanticipated changes in demand could have a significant impact on the value of the Company’s inventory and reported operating results.

Assets Held for Sale

The Company classifies assets as held for sale when all of the following are met: (i) management has committed to a plan to sell the assets; (ii) the assets are available for immediate sale in their present condition; (iii) an active program to locate a buyer has been initiated; (iv) it is probable that a sale will occur within one year; (v) the assets are being actively marketed for sale at a price that is reasonable in relation to their current fair value; and (vi) it is unlikely that significant changes to the plan will be made or that the plan will be withdrawn. If all held for sale criteria are met, the assets are reclassified and presented separately in the consolidated balance sheets as assets held for sale at the lower of the carrying value or the fair value, less cost to sell, and no longer depreciated or amortized.

During the fourth quarter of fiscal year 2021, the Company entered into an agreement to sell the AMTC Facility in connection with its previously announced back-end facility consolidation plan. The AMTC Facility met the criteria to be classified as held for sale, and the Company was required to record these assets at the lower of carrying value or fair value less any costs to sell based on the agreed-upon sales price. The sale of the AMTC Facility closed in August 2021 upon receipt of the necessary government approvals in Thailand and customary closing conditions.

Property, Plant and Equipment, Net

Property, plant and equipment, net, including improvements that significantly add to productive capacity or extend useful life, are stated at historical cost less accumulated depreciation. Depreciation is computed using the straight-line method over the estimated useful lives of the assets. The Company capitalizes interest on certain projects with long-term construction periods. Maintenance and repairs expenditures are charged to expense as incurred. Estimated useful lives of the respective property, plant and equipment assets are as follows:


Asset						Useful Life
Buildings						31 years
Building improvements						Economic life of the building improvements
Leasehold improvements						The shorter of the remaining term of the lease or estimated useful life
Machinery and equipment						3-10 years
Office equipment						3 years

Intangible assets, net

Intangible assets, net primarily consist of capitalized costs to acquire and defend patent and trademark related awards. In addition, the Company holds technology, customer relationships, and non-compete agreements. The Company’s intangible assets are amortized using the straight-line method over their estimated useful lives, ranging from three to ten years.

Impairment of Long-Lived Assets

Long-lived assets consist of property, plant and equipment, finite-lived intangibles, such as patents and customer relationships and indefinite-lived intangible assets such as process technology and trademarks.

Property, plant and equipment and finite-lived assets are tested for impairment whenever events or changes in business circumstances indicate that the carrying amount of the assets may not be fully recoverable. Factors that the Company considers in deciding when to perform an impairment review include significant underperformance of the business in relation to expectations, significant negative industry or economic trends and significant changes or planned changes in the use of the assets. If an impairment review is performed to evaluate a long-lived asset group for recoverability, the Company compares forecasts of undiscounted cash flows expected to result from the use and eventual disposition of the long-lived asset group to its carrying value. An impairment loss would be recognized when estimated undiscounted future cash flows expected to result from the use of an asset group are less than its carrying amount. If such assets are not impaired, but their useful lives have decreased, the remaining net book value is amortized over the revised useful life.

Indefinite-lived intangible assets are reviewed for impairment at least annually or whenever events or changes in circumstances indicate that it is more likely than not that the asset is impaired. The impairment test consists of a qualitative assessment to determine if events or changes in circumstances indicate that the carrying amount of the assets may not be fully recoverable. Factors that the Company considers in deciding when to perform an impairment review include significant underperformance of the business in relation to expectations, significant negative industry or economic trends and significant changes or planned changes in the use of the assets. If events occur, a comparison of the fair value of the intangible asset with its carrying value is performed. If the carrying value of the intangible asset exceeds its fair value, an impairment loss is recognized in an amount equal to that excess. The Company has elected the first business day of the fourth quarter of its fiscal year as the annual impairment testing date. The results of the annual impairment test did not indicate any impairments of indefinite-lived intangible assets for fiscal years 2022, 2021 and 2020.

In the fourth quarter of fiscal year 2020, the Company initiated a process to conclude its operations at the AMTC facility with the intention of selling the AMTC Facility. On March 3, 2021, the Company entered into a definitive agreement to sell its AMTC facility for approximately $30,000 before fees and expenses. As a result of the execution of the definitive agreement, the Company reclassified the AMTC assets within its “Property, plant and equipment, net” to “Assets held for sale” and incurred an impairment charge to the book value of those assets of $7,119 in its fiscal fourth quarter ended March 26, 2021.

Goodwill

Goodwill represents the excess purchase price over the estimated fair value of net assets acquired as of the acquisition date. The Company tests goodwill for impairment on an annual basis on the first business day of the fourth quarter or more frequently if there are indicators of impairment. Events that could indicate impairment and trigger an interim impairment assessment include, but are not limited to, current economic and market conditions, including a decline in market capitalization, a significant adverse change in legal factors, business climate, operational performance of the business or key personnel, and an adverse action or assessment by a regulator. The Company has determined that there is one reporting unit for purposes of testing goodwill for impairment.

In testing goodwill for impairment, the Company has the option to first consider qualitative factors to determine whether it is more likely than not that the fair value of a reporting unit is less than its carrying value. Such qualitative factors

include industry and market considerations, economic conditions, entity-specific financial performance and other events, such as changes in management, strategy and primary customer base. If based on the Company’s qualitative assessment it is more likely than not that the fair value of the reporting unit is less than its carrying amount, quantitative impairment testing is required. However, if the Company concludes otherwise, quantitative impairment testing is not required. The results of the Company’s qualitative goodwill impairment test performed on the first business day of fourth quarter for fiscal years 2022, 2021 and 2020 did not indicate any impairments.

Product Warranties

The Company provides warranties on its products to its customers, generally for one year from the date of shipment and in limited cases for longer periods. In the event of a failure of a product covered by these warranties, the Company must repair or replace the product or, if those remedies are insufficient, and at the discretion of the Company, provide a refund. In limited cases, the Company warrants its products to include significant liability beyond the cost of repairing or replacing the product or refunding the sales price of the product. The Company periodically assesses the adequacy of the warranty reserve and adjusts the amount as necessary. If there is a material increase in the rate of customer claims, or the Company’s estimates of probable losses relating to specifically identified warranty exposures are inaccurate, the Company may need to record a charge against future cost of goods sold. There were minimal costs accrued in the fiscal years ended March 25, 2022, March 26, 2021 and March 27, 2020.

Deferred Rent

The Company records rent expense on a straight-line basis using a constant periodic rate over the term of its lease agreements. The excess of the cumulative rent expense incurred over the cumulative amounts due under the lease agreements is deferred and recognized over the term of the leases. Leasehold improvement reimbursements from landlords are recorded as deferred rent and amortized as reductions to lease expense over the lease term.

Revenue Recognition

Revenue is recognized on contracts with customers when transfer of control to the customer occurs in exchange for an amount reflecting the consideration that the Company expects to be entitled. In order to achieve this core principle, the Company applies the following five step approach:

(1) Identify the contract with a customer—The Company considers customer purchase orders, which in some cases are governed by master agreements, to be customer contracts. A contract exists when it is approved by both parties, each party’s rights and obligations are identified, payment terms are known, customer has the ability and intent to pay and the contract has commercial substance. The Company uses judgement in determining the customer’s ability and intent to pay, which is based on factors such as the customer’s historical payment experience or, for new customers, credit and financial information pertaining to the customers.

(2) Identify the performance obligations in the contract—Performance obligations are identified as products and services that will be transferred to the customer that are both capable of being distinct, whereby the customer can benefit from the product or service either on its own or together with other resources that are readily available from third parties or from the Company, and are distinct in the context of the contract, whereby the transfer of the products or services is separately identifiable from other promises in the contract. Substantially, all of the Company’s contracts with customers contain a single performance obligation, such as the sale of mixed-signal integrated circuit products or the sale of wafer fabricators.

(3) Determine the transaction price—The transaction price is determined based on the consideration to which the Company expects to be entitled in exchange for transferring products to the customer. Variable consideration is included in the transaction price if, in the Company’s judgment, it is probable that no significant future reversal of cumulative revenue under the contract will occur.

(4) Allocate the transaction price to the performance obligations in the contract—If the contract contains a single performance obligation, the entire transaction price is allocated to that performance obligation. Contracts that contain multiple performance obligations require an allocation of the transaction price to each performance obligations based on a relative standalone selling price (“SSP”).

(5) Recognize revenue when a performance obligation is satisfied—Revenue is recognized when control of the product is transferred to the customer (i.e., when the Company’s performance obligation is satisfied), which typically occurs point in time at shipment.

Sales channels

The Company sells products globally through its direct sales force, third-party distributors, independent sales representatives and consignment. The Company records revenue based on the amount of any discounted arrangement fee. When the Company transacts with a distributor, its contractual arrangement is with the distributor and not with the end customer. Whether the Company transacts business with and receives the order from a distributor or directly from an end customer, its revenue recognition policy and resulting pattern of revenue recognition for the order are the same.

The Company also uses independent sales representatives to assist in the sales process with certain customers. Sales representatives are not distributors. If a sales representative is engaged in the sales process, the Company receives the order directly from and sells the products directly to the end customer. The Company pays a commission to the sales representative, calculated as a percentage of the related customer payment. Sales representatives commissions are recorded as expenses when incurred and are classified as sales and marketing expenses in the Company’s consolidated statements of operations.

For the consignment arrangements with distributors, delivery occurs and revenue is recognized when the distributor pulls product from consignment inventory that it is stored at designated distributor locations. Recognition is not contingent upon resale of the products to the distributors’ customers. Until the products are pulled for use or sale by the distributor, the Company retains control over the products’ disposition, including the right to pull back or relocate the products.

Variable consideration

Variable consideration includes sales in which the amount of consideration that the Company will receive is unknown as of the end of a reporting period. Such consideration primarily includes limited price protection provisions provided to distributors, sales under agreements that allow rights of return, referred to as stock rotation, provided to distributors, discounts and credits provided to distributors and returns provisions offered to direct customers. The Company estimates potential future returns, credits and sales allowances based on historical data from prior sales returns and credits issued and changes in product sales to customers.

Practical expedients elected

Revenue recognized is adjusted based on allowances, which are prepared on a portfolio basis using a most likely amount methodology. The length of time between revenue recognition and payment is not significant under any of the Company’s payment terms. Moreover, if the period between revenue recognition and when the customer pays is one year or less, the Company elected not to account for the significant financing component.

Other Revenue Recognition Policies

Prior to the end of fiscal year 2020, the Company acted as a distributor of Sanken products in North America, South America and Europe. The Company evaluated whether it is acting as the principal (i.e., report net sales on a gross basis) or agent (i.e., report net sales on a net basis) in these transactions. In doing so, the Company evaluated whether it controls the good or service before it is transferred to the customer. If the Company controls the good or service before it is transferred to the customer, it is acting as principal in the transaction. Generally, the Company controls the promised products before transferring the products to the customer and acts as the principal to the transaction, therefore the Company recognizes net sales gross.

Shipping and handling activities are not considered a contract performance obligation. The Company records shipping and handling costs billed to customers as revenue with offsetting costs recorded as cost of sale.

Contract Assets and Contract Liabilities

Contract assets and contract liabilities (deferred revenue) are reported net at the contract level for each reporting period. Contract assets typically result from contracts when revenue recognized exceeds the amount billed to the customer, and right to payment is not just subject to the passage of time. Contract assets are transferred to accounts receivable when the rights become unconditional. The Company had no contract assets as of March 25, 2022 and March 26, 2021.

Contract Liabilities (Deferred Revenue)—Deferred revenue typically results from billings in excess of revenues recognized and relate to products shipped near the end of the reporting period for which the required revenue recognition criteria were not met. The Company had no significant contract liabilities as of March 25, 2022 and March 26, 2021.

Contract costs

Certain costs, such as cost to obtain a contract or cost to fulfill a contract are required to be capitalized. The Company has immaterial contract costs, as such, no amounts were capitalized as of March 25, 2022 and March 26, 2021.

Stock-Based Compensation

The Company recognizes compensation costs for all stock-based compensation awards made to employees based upon the awards’ grant-date fair value. The Company estimates the fair value of stock-based compensation awards granted using the grant date fair value of the awards. Stock-based compensation expense is recognized evenly over the vesting period. The Company accounts for forfeitures as they occur. Determining the fair value of the stock-based compensation awards at the grant date requires judgment, including estimating the expected life of the stock awards and the volatility of the underlying market-based and projected future cash flow assumptions. Any changes to those estimates that the Company makes from time to time may have a significant impact on the stock-based compensation expense recorded and could materially impact the Company’s results of operations.

Pension Obligations

The Company, through its subsidiaries, has various foreign defined benefit plans as well as U.S. defined contribution plans. Accredited independent actuaries calculate related plan assets, liabilities and expenses. The Company is required to make certain assumptions to assign value to the plan assets and liabilities. These assumptions are reviewed annually, based on current plan information and consultations with independent investment advisors and actuaries. The selection of assumptions requires a high degree of judgment and may materially change from period to period. The Company does not offer other defined benefits associated with postretirement benefit plans other than pensions.

The Company recognizes the funded status of a benefit plan on its consolidated balance sheets and recognizes gains, losses and prior service cost or credits that arise during the period that are not recognized as components of net periodic benefit cost as a component of other comprehensive income, net of tax. In addition, the Company measures defined benefit plan assets and obligations as of the date of the employer’s fiscal year-end consolidated balance sheets and discloses in the notes to the consolidated financial statements the gains or losses, prior service costs or credits and transition asset or obligation.

Income Taxes

The Company accounts for income taxes using the asset and liability method, which requires the recognition of deferred tax assets and liabilities for the expected future tax consequences of temporary differences between the financial statement and tax basis of assets and liabilities, as measured by enacted tax rates anticipated to be in effect when these differences are expected to reverse. This method also requires the recognition of future tax benefits to the extent that realization of such benefits is more likely than not. Deferred tax expense or benefit is the result of changes in the deferred tax assets and liabilities. The Company assesses the likelihood that its deferred tax assets will be recovered from future taxable income and, to the extent it believes, based upon the weight of available evidence, it is more likely than not that some or all of the deferred tax assets will not be realized, a valuation allowance is established.

The Company recognizes a liability for potential payments of taxes to various tax authorities related to uncertain tax positions and other tax matters. The recorded liability is based on a determination of whether and how much of a tax benefit taken by the Company in its tax filings or positions is “more likely than not” to be realized. The amount of the benefit that may be recognized in the consolidated financial statements is the largest amount that has a greater than 50% likelihood of being realized upon ultimate settlement. To the extent that the assessment of such tax positions changes, the change in estimate is recorded in the period in which the determination is made. The Company establishes a liability, which is included in other long-term liabilities in the consolidated balance sheets, for tax-related uncertainties based on estimates of whether, and the extent to which, additional taxes will be due. These liabilities are established when the Company believes that certain positions might be challenged despite the Company’s belief that the tax return positions are fully supportable. The recorded liability is adjusted considering changes in the facts and circumstances. The provision for income taxes includes the impact of the recorded liability and changes thereto.

The Company recognizes interest and penalties related to uncertain tax positions as a component of income tax provision in the consolidated statements of operations. Accrued interest and penalties are included in accrued income taxes in the consolidated balance sheets.

Except for our AMTC Facility prior to its sale, all undistributed earnings of our foreign subsidiaries are permanently reinvested.

Accordingly, the Company does not provide for U.S. income taxes on such undistributed earnings.

Advertising Costs

Advertising costs are expensed, as incurred, as a component of sales expense. Advertising expense was $452, $331 and $273 in fiscal years 2022, 2021 and 2020, respectively.

Net Income Per Share

The Company computes net income per share in accordance with ASC 260, Earnings Per Share (“ASC 260”). Basic net income per share is computed by dividing net income attributable to stockholders of the Company by the weighted-average number of common shares outstanding during the reporting period. Diluted net income per share is computed similarly to basic net income per share, except that it includes the potential dilution that could occur if dilutive securities were exercised. Information about potentially dilutive and antidilutive shares for the reporting period is provided in Note 18, “Net Income per Share.”

As the Company maintained two classes of Common stock (Class A and Class L) in fiscal year 2020, earnings per basic and diluted shares were calculated under the two-class method. The two-class method includes an earnings allocation formula that determines earnings per share for each participating security according to dividends declared on undistributed earnings for the period. Earnings per diluted share is computed on the basis of the weighted-average number of common shares outstanding during the period plus the dilutive effect of any potential common shares outstanding during the period using the more dilutive of the two-class method or another dilutive method. For the fiscal year ended March 27, 2020, the Company did not allocate income to the Class L shares 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.

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, which management believes to be of a high credit quality. To manage credit risk related to accounts receivables, the Company evaluates its creditworthiness of its customers and maintains allowances, to the extend 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 March 25, 2022 and March 26, 2021, Sanken accounted for 23.8% and 23.2% 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 as of such dates.

For the fiscal years ended March 25, 2022, March 26, 2021 and March 27, 2020, Sanken accounted for 19.4%, 17.7% and 28.4% of total net sales, respectively. No other customers accounted for 10% or more of total net sales for any of these periods.

During the fiscal year ended March 25, 2022, sales from customers located outside of the United States in the aggregate accounted for 85.9% of the Company’s total net sales, with Japan accounting for 19.4%, Greater China accounting for 25.0% and South Korea accounting for 10.5%. No other countries accounted for greater than 10.0% of total net sales for the fiscal year ended March 25, 2022.

During the fiscal year ended March 26, 2021, sales from customers located outside of the United States in the aggregate accounted for 86.1% of the Company’s total net sales, with Japan accounting for 17.7%, Greater China accounting for 26.6% and South Korea accounting for 10.5%. No other countries accounted for greater than 10.0% of total net sales for the fiscal year ended March 26, 2021.

During the fiscal year ended March 27, 2020, sales from customers located outside of the United States in the aggregate accounted for 81.7% of the Company’s total net sales, with Japan accounting for 28.4% and Greater China accounting for 18.7%. No other countries accounted for greater than 10.0% of total net sales for the fiscal year ended March 27, 2020.

Recently Adopted Accounting Standards

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 adoption of this 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 fiscal year ended March 25, 2022, 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 does not expect this new guidance to have an impact on the consolidated financial statements and the related disclosures at this time. Additionally, if the Company issues stock options under its 2020 Omnibus Incentive Compensation Plan (the “2020 Plan”) and subsequently makes modifications, the Company anticipates no material impact in future periods.

Revenue from Contract with Customers

12 Months Ended

Mar. 25, 2022

Revenue from Contract with Customer [Abstract]

Revenue from Contracts with Customers

Revenue from Contracts with CustomersThe Company generates revenue from the sale of magnetic sensor integrated circuits (“ICs”), application-specific analog power semiconductors and photonics, for the year ended March 27, 2020, also from wafer foundry products and from the sale of Sanken related products. The following tables summarize net sales disaggregated by core end market and application, by product and by geography for the fiscal years ended March 25, 2022, March 26, 2021 and March 27, 2020. The categorization of net sales by core end market and 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 core end market and application:


	Fiscal Year Ended
		March 25, 2022		March 26, 2021		March 27, 2020
Core end market:
Automotive		$	531,564	$	398,298	$	395,277
Industrial		133,187		94,872		78,399
Other		103,923		98,037		68,622
Other applications:
Wafer foundry products		—		—		72,370
Distribution of Sanken products		—		—		35,421
Total net sales		$	768,674	$	591,207	$	650,089

Net sales by product:


	Fiscal Year Ended
		March 25, 2022		March 26, 2021		March 27, 2020
Power integrated circuits (“PIC”)		$	268,381	$	203,600	165,911
Magnetic sensors (“MS”)		498,561		386,372		376,387
Photonics		1,732		1,235		—
Wafer foundry products		—		—		72,370
Distribution of Sanken products		—		—		35,421
Total net sales		$	768,674	$	591,207	$	650,089

Net sales by geography:


	Fiscal Year Ended
		March 25, 2022		March 26, 2021		March 27, 2020
Americas:
United States		$	108,396	$	82,165	119,139
Other Americas		23,056		16,558		20,883
EMEA:
Europe		134,537		103,128		110,126
Asia:
Japan		148,813		104,661		184,557
Greater China		191,895		157,546		121,807
South Korea		80,451		62,075		54,707
Other Asia		81,526		65,074		38,870
Total net sales		$	768,674	$	591,207	$	650,089

The Company recognizes sales net of returns, credits issued, price protection adjustments and stock rotation rights. As of March 25, 2022 and March 26, 2021, these adjustments were $14,924 and $15,412, respectively, and were netted against trade accounts receivable in the consolidated balance sheets. These amounts represent activity of income of $488, income of $2,061 and charges of $423 for the fiscal years ended March 25, 2022, March 26, 2021 and March 27, 2020, respectively.

Unsatisfied performance obligations primarily represent contracts for products with future delivery dates. The Company elected not to 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

12 Months Ended

Mar. 25, 2022

Fair Value Disclosures [Abstract]

Fair Value Measurements

The following tables present information about the Company’s financial assets and liabilities as of March 25, 2022 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 March 25, 2022 Using:
	Level 1		Level 2		Level 3		Total
Assets:
Cash equivalents:
Money market fund deposits	$	16,927	$	—	$	—	$	16,927
Restricted cash:
Money market fund deposits	7,416		—		—		7,416
Other assets, net (long-term):
Investments in marketable securities	12,346		—		—		12,346
Total assets	$	36,689	$	—	$	—	$	36,689
Liabilities:
Other long-term liabilities:
Contingent consideration	$	—	$	—	$	2,800	$	2,800
Total liabilities	$	—	$	—	$	2,800	$	2,800


	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 fiscal year ended March 25, 2022:



Net gains and losses recognized during the period on equity securities	$	3,722
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	$	3,722

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 $565 for the fiscal year ended March 25, 2022.

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”), the Company is required to make contingent payments, subject to the entity achieving certain sales and revenue thresholds. The contingent consideration payments are up to $15,000. The fair value of the liabilities for the contingent payments recognized upon the Voxtel Acquisition as part of the purchase accounting opening balance sheet totaled $7,300 and was estimated by discounting to present value the probability-weighted contingent payments expected to be made. Assumptions used in this calculation were units sold, expected revenue, discount rate and various probability factors. The ultimate settlement of contingent consideration could deviate from current estimates based on the actual results

of these financial measures. This liability is considered to be a Level 3 financial liability that is remeasured during each reporting period. The change in fair value of contingent consideration for the Acquisition is included in change in fair value of contingent consideration in the consolidated statements of operations.

The following table shows the change in fair value of Level 3 contingent consideration for the fiscal years ended March 25, 2022 and March 26, 2021:


	Level 3 Contingent Consideration
Balance at March 27, 2020	$	—
Purchase price contingent consideration	7,300
Change in fair value of contingent consideration	(2,500)
Balance at March 26, 2021	$	4,800
Change in fair value of contingent consideration	(2,000)
Balance at March 25, 2022	$	2,800

Assets and liabilities measured at fair value on a recurring basis also consist of marketable securities, unit investment trust funds, loans, bonds, stock and other investments, which constitute 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 16, “Retirement Plans.”

During the fiscal years ended March 25, 2022, March 26, 2021 and March 27, 2020, there were no transfers between Level 1, Level 2 and Level 3.

- 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

12 Months Ended

Mar. 25, 2022

Receivables [Abstract]

Trade Accounts Receivable, net

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


	March 25, 2022		March 26, 2021
Trade accounts receivable	$	129,539	$	108,546
Less:
Provision for expected credit losses and allowance for doubtful accounts	(105)		(138)
Returns and sales allowances	(14,819)		(15,274)
Related party trade accounts receivable	(27,256)		(23,634)
Total	$	87,359	$	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	Allowance for Doubtful Accounts		Returns and Sales Allowances		Total
Balance at March 29, 2019	$	412	$	17,607	$	18,019
Charged to costs and expenses or revenue	262		118,719		118,981
Write-offs, net of recoveries	(386)		(119,141)		(119,527)
Balance at March 27, 2020	288		17,185		17,473
Charged to costs and expenses or revenue	(150)		147,026		146,876
Write-offs, net of recoveries	—		(148,937)		(148,937)
Balance at March 26, 2021	138		15,274		15,412
Charged to costs and expenses or revenue	(33)		144,318		144,285
Write-offs, net of recoveries	—		(144,773)		(144,773)
Balance at March 25, 2022	$	105	$	14,819	$	14,924

Inventories

12 Months Ended

Mar. 25, 2022

Inventory Disclosure [Abstract]

Inventories

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


	March 25, 2022		March 26, 2021
Raw materials and supplies	$	11,941	$	9,629
Work in process	55,855		50,095
Finished goods	18,364		27,774

Total	$	86,160	$	87,498

The Company recorded inventory provisions totaling $5,809, $4,464 and $3,345 for the fiscal years ended March 25, 2022, March 26, 2021 and March 27, 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 $3,106 for the fiscal year ended March 25, 2022.

Assets Held for Sale	12 Months Ended
Assets Held for Sale	Mar. 25, 2022
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 AMTC Facility met the criteria to be classified as held for sale, and the Company was required to record these assets at the lower of carrying value or fair value less any costs to sell based on the agreed-upon sales price. The total amount of Assets held for sale was related to the AMTC Facility. 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 during the fiscal year ended March 25, 2022.

Property, Plant and Equipment, net

12 Months Ended

Mar. 25, 2022

Property, Plant and Equipment [Abstract]

Property, Plant and Equipment, net

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


	March 25, 2022		March 26, 2021
Land	$	15,775	$	16,602
Buildings, building improvements and leasehold improvements	59,816		56,911
Machinery and equipment	542,745		491,025
Office equipment	6,247		6,281
Construction in progress	22,428		29,201
Total	647,011		600,020
Less accumulated depreciation	(436,983)		(407,627)
Total	$	210,028	$	192,393

The Company retired $10,976, $63 and $9,418 of fully depreciated assets during the fiscal years ended March 25, 2022, March 26, 2021 and March 27, 2020, respectively. Total depreciation expense amounted to $44,178, $44,845 and $62,118 for the fiscal years ended March 25, 2022, March 26, 2021 and March 27, 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 March 25, 2022 and March 26, 2021 are as follows:


	March 25, 2022		March 26, 2021
United States	$	35,221	$	36,529
Philippines	167,488		148,374
Thailand	—		1,698
Other	7,746		7,190
Total	$	210,455	$	193,791

Amortization of prepaid tooling costs amounted to $130, $130 and $125 for the fiscal years ended March 25, 2022, March 26, 2021 and March 27, 2020, respectively.

Goodwill and Intangible Assets

12 Months Ended

Mar. 25, 2022

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 27, 2020	$	1,285
Goodwill arising from acquisition	18,702
Currency translation	119
Balance at March 26, 2021	$	20,106
Currency translation	(97)
Balance at March 25, 2022	$	20,009

Intangible assets, net is as follows:


	March 25, 2022
Description	Gross		Accumulated Amortization		Net Carrying Amount		Weighted-Average Lives
Patents	$	36,577	$	15,304	$	21,273	10 years
Customer relationships	6,582		6,348		234		9 years
Process technology	13,100		1,742		11,358		12 years
Indefinite-lived and legacy process technology	4,050		1,650		2,400
Trademarks	200		64		136		5 years
Legacy trademarks	627		58		569
Other	32		32		—
Total	$	61,168	$	25,198	$	35,970


	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

The Company completed the Voxtel Acquisition during the fiscal year ended March 26, 2021. The Company paid an amount of $34,980 to acquire Voxtel, which represents its fair value on that date. Any excess of the Voxtel Acquisition consideration over the fair value of the assets acquired and liabilities assumed was allocated to goodwill, which amounted to $18,702. As a result of the Acquisition, the Company recorded finite-life intangible assets of $13,600. In addition, as a result of the Acquisition, the Company recorded indefinite-life intangible assets of $2,400.

Intangible assets amortization expense was $4,219, $3,332 and $1,805 for the fiscal years ended March 25, 2022, March 26, 2021 and March 27, 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 ten years. There were no significant costs capitalized during either of the fiscal years 2022 or 2021.

As of March 25, 2022, annual amortization expense of intangible assets for the next five fiscal years is expected to be as follows:


2023	$	3,741
2024	3,593
2025	3,356
2026	3,115
2027	2,807
Thereafter	19,358
Total	$	35,970

Other Assets, net

12 Months Ended

Mar. 25, 2022

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

Other Assets, net

The composition of other assets, net is as follows:


	March 25, 2022		March 26, 2021
VAT receivables long-term, net	$	6,386	$	8,177
Income taxes receivable long-term	15,763		—
Investments in marketable securities (1)	12,346		—
Deposits	10,525		3,573
Prepaid contracts long-term	1,236		1,295
Deferred financing costs	49		149
Other	1,304		1,419
Total	$	47,609	$	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

12 Months Ended

Mar. 25, 2022

Payables and Accruals [Abstract]

Accrued Expenses and Other Current Liabilities

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


	March 25, 2022		March 26, 2021

Accrued management incentives	33,607		21,538
Accrued salaries and wages	14,699		15,060
Base acquisition purchase price due	—		14,588
Deposits on AMTC facility	—		14,531
Accrued vacation	5,715		5,739
Accrued severance	839		572
Accrued professional fees	1,252		2,029
Accrued income taxes	1,831		514
Accrued utilities	607		623
Other current liabilities	6,909		3,738
Total	$	65,459	$	78,932

Management Long-Term Incentive Plan

12 Months Ended

Mar. 25, 2022

Management Long-Term Incentive Plan

Management Long-Term Cash Incentive Plan

On August 28, 2015 the Company’s Board of Directors approved a Long-Term Cash Incentive Plan (“LTCIP”) for certain employees. Under the LTCIP, employees receive cash payments upon achievement of certain performance metrics determined based on a three-year rolling performance period. The Company had executed individual agreements with employees to pay certain incentives upon achievement of the plan conditions at the end of each three-year performance period.

In connection with its IPO, the Company offered certain employees (excluding its then named executive officers) who were eligible to receive cash bonuses under the Company’s LTCIP and/or Talent Retention Incentive Program (as amended, the “TRIP”) the opportunity to elect to receive restricted stock units (“RSUs”) under its 2020 Omnibus Incentive Compensation Plan in lieu of cash payouts under the LTCIP and/or TRIP, through the LTCIP/TRIP Award RSU Conversion Program (the “RSU Conversion Program”). The expense related to the LTCIP and TRIP awards elected to be exchanged in the RSU Conversion Program amounted to $607 and $421, respectively. The number of RSUs granted to employees that elected to participate in the RSU Conversion Program is determined as a percentage of the employee’s target bonus under the LTCIP or TRIP, and amounted to 602,490 and 348,911 RSUs on behalf of the LTCIP and TRIP conversion, respectively, at a

grant date fair value of $14.00. If an employee elected not to participate in the RSU Conversion Program, the LTCIP or TRIP award will continue under its existing terms and conditions.

The accrual activity, payments, removal due to divestitures and balances related to the LTCIP are as follows:


	Current Liabilities		Long-Term Liabilities
Balance at March 29, 2019	$	17,115	$	11,104
Reclassification	9,707		(9,706)
Payments	(17,836)		—
Accruals	2,502		1,041
Balance at March 27, 2020	$	11,488	$	2,439
Reclassification	1,004		(1,004)
Payments	(11,267)		(111)
RSU conversion	(640)		—
Removal due to divestiture	(378)		(398)
Accruals	(149)		(668)
Balance at March 26, 2021	58		258

Payments	(58)		—


Accruals	—		259
Balance at March 25, 2022	$	—	$	517

The current and long-term portion of the liabilities associated with the LTCIP is included within accrued expenses and other current liabilities and other long-term liabilities in the Company’s consolidated balance sheets, respectively.

Leases

12 Months Ended

Mar. 25, 2022

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 one to ten 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:


	Fiscal Year Ended
		March 25, 2022
Lease costs:
Operating lease expense		$	4,648
Short term lease expense		584

Other information:
Operating cash flows from operating leases		$	5,289
Noncash lease liabilities arising from obtaining right-of-use assets		3,159
Weighted-average remaining lease term – operating leases		5.17 years
Weighted-average discount rate – operating leases		4.5		%

Rent expense incurred under operating lease agreements was $5,720, $4,385 and $5,456 for the fiscal years ended March 25, 2022, March 26, 2021 and March 27, 2020, respectively.

As of March 25, 2022, expirations of lease obligations by fiscal year are expected as follows:


2023	$	4,335
2024	3,956
2025	3,300
2026	2,592
2027	1,788
Thereafter	2,602
Total undiscounted lease payments	$	18,573
Less: present value adjustment	(2,119)
Total operating lease liabilities	$	16,454

Information as Lessee under ASC 840

Future minimum lease payments by fiscal year for noncancellable operating leases as reported under the previous lease guidance as of March 26, 2021 were 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

12 Months Ended

Mar. 25, 2022

Debt Disclosure [Abstract]

Debt and Other Borrowings

Components of Debt

The following is a summary of obligations under the Company’s Senior Secured Credit Facilities and other borrowings as of March 25, 2022 and March 26, 2021:


	March 25, 2022		March 26, 2021
Senior Secured Term Loan	$	25,000	$	25,000
Unsecured Revolving Credit Facilities	—		—
Total Debt	25,000		25,000
Less debt payable within one year	—		—
Debt payable after one year	$	25,000	$	25,000

As of March 25, 2022, the principal maturities of debt obligations outstanding of $25,000 are due for repayment in fiscal year 2028.

Senior Secured Credit Facilities

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 fiscal year 2028 (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 March 25, 2022. The Company had no outstanding borrowings on the Revolving Credit Facility as of March 25, 2022.

In connection with entering into the Revolving Credit Facility, the Company used cash on hand to repay all prior amounts outstanding under AML’s $25,000 and $8,000 line-of-credit agreements and terminated all commitments thereunder as discussed below.

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 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 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 $149 and $249 as of March 25, 2022 and March 26, 2021, respectively.

On November 25, 2020, the Company repaid $300,000 of the outstanding $325,000 Term Loan Facility using proceeds from the Company’s IPO. The repayment was accounted for as a debt extinguishment in accordance with provisions of ASC Topic 470-50, Debt Modifications and Extinguishments. The Company recognized a loss on partial debt extinguishment of $9,055 which was included within “Other (expense) income” in the consolidated statements of operations for the fiscal year ended March 26, 2021. The loss on debt extinguishment consisted of the unamortized balances of previously deferred original issue discount (“OID”) and debt issuance costs which the Company wrote off.

Unsecured Revolving Credit Facilities

On January 22, 2019, the Company, through its subsidiaries, entered into a revolving line-of-credit agreement, with a financial institution, that provided for a maximum borrowing capacity of $25,000. The revolving line-of-credit bore interest at LIBOR on the day of the advance plus a 0.4% spread payable upon maturity of the draws, and expired on January 22, 2021. During fiscal year 2021, the Company borrowed $25,000 under the revolving line-of-credit. As of March 27, 2020, the Company had a $25,000 outstanding balance under the revolving line-of-credit agreement with an original repayment date of June 19, 2020 at an interest rate of 1.7%. In the first quarter of fiscal 2021, repayment of the $25,000 borrowings under the revolving line-of-credit was extended to December 18, 2020. The revolving line of credit was secured, for a one year period, by a non-refundable fee of $25 that was paid to the financial institution. In connection with entering into a new revolving credit facility on September 30, 2020, the Company used cash on hand to repay all amounts outstanding under the line-of-credit and terminated all commitments thereunder.

On March 27, 2006, the Company, through its PSL subsidiary, entered into a revolving line-of-credit agreement, with a financial institution, that provides for a maximum borrowing capacity of $10,000. The revolving line-of-credit bore interest at LIBOR on the day of the advance plus 1.0% spread payable upon maturity of the draws and was guaranteed by Sanken. Under the terms of the revolving line-of-credit agreement, the principal was due at various times during fiscal year 2021. During fiscal year 2020, the Company borrowed $10,000 under the revolving line of credit. As of March 27, 2020, the Company had a $10,000 outstanding balance under the revolving line-of-credit agreement maturing on September 16, 2020, at an interest rate of 2.5%. On March 28, 2020, in conjunction with the PSL Divestiture, the debt was deconsolidated.

On December 5, 2001, the Company, through its subsidiaries, entered into a line-of-credit agreement with a financial institution that provides for a maximum borrowing capacity of $8,000. On March 18, 2020, the Company borrowed $8,000 under the line-of-credit. As of March 27, 2020, the Company had an $8,000 outstanding balance under the line-of-credit agreement maturing on June 18, 2020 at an interest rate of 1.9%. In the first quarter of fiscal 2021, repayment of the $8,000 borrowings under the line-of-credit was extended to December 21, 2020. In connection with entering into a new revolving credit facility on September 30, 2020, the Company used cash on hand to repay all amounts outstanding under the line-of-credit and terminated all commitments thereunder.

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 $1,145 at March 25, 2022) at the bank’s prevailing interest rate. The line-of-credit is due to expire on August 21, 2022. There were no borrowings outstanding under this line-of-credit as of March 25, 2022 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 $1,431 at March 25, 2022) at the

bank’s prevailing interest rate. The line-of-credit is due to expire on June 30, 2022. There were no borrowings outstanding under this line-of-credit as of March 25, 2022 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
-Topic 470
-URI http://asc.fasb.org/topic&trid=2208564

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1B
-Subparagraph (h)
-URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495323-112611

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1C
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495334-112611

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1I
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495371-112611

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1I
-Subparagraph (d)
-URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495371-112611

Reference 6: 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(c))
-URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1B
-Subparagraph (g)
-URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495323-112611

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1C
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495334-112611

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1C
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495334-112611

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1E
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495348-112611

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1B
-URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495323-112611

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1I
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495371-112611

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1B
-Subparagraph (i)
-URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495323-112611

+ Details

Other Long-Term Liabilities

12 Months Ended

Mar. 25, 2022

Other Liabilities Disclosure [Abstract]

Other Long-Term Liabilities

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


	March 25, 2022		March 26, 2021

Accrued management incentives	826		628
Accrued retirement	8,903		10,656
Accrued contingent consideration	2,800		4,800
Provision for uncertain tax positions (net)	2,757		2,774
Other	—		275
Total	$	15,286	$	19,133

Retirement Plans

12 Months Ended

Mar. 25, 2022

Retirement Benefits [Abstract]

Retirement Plans

The 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 consolidated balance sheets with a corresponding adjustment to accumulated other comprehensive income (“AOCI”), 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 consolidated statements of operations

Expense related to the non-U.S. defined benefit plan was as follows:


	Fiscal Year Ended
		March 25, 2022		March 26, 2021		March 27, 2020
Service cost		$	1,554	$	1,454	$	961
Interest cost		637		628		674
Expected return on plan assets		(304)		(299)		(331)

Amortization of net transition asset		—		(1)		(14)
Amortization of prior service cost		1		8		8
Actuarial loss		205		179		96
Net periodic pension expense		$	2,093	$	1,969	$	1,394

Changes in the benefit obligations and plan assets for the non-U.S. defined benefit plan were as follows:


	Fiscal Year Ended
	March 25, 2022		March 26, 2021
Obligation and funded status of plan:
Benefit obligation at beginning of year	$	17,180	$	12,595
Service cost	1,554		1,454
Interest cost	637		628
Prior service cost	(108)		—
Benefits paid	(1,180)		(633)
Actuarial loss	(1,822)		2,502
Foreign currency exchange rate changes	(1,181)		634
Benefit obligation at end of year	$	15,080	$	17,180
Change in plan assets:
Fair value of plan assets at beginning of year	$	7,644	$	5,579
Actual return on plan assets	(235)		1,421
Employer contributions	1,380		981
Benefits paid	(1,146)		(595)
Foreign currency exchange rate changes	(546)		258
Fair value of plan assets at end of year	$	7,097	$	7,644
Underfunded status at end of year	$	(7,983)	$	(9,536)

The underfunded plan amounts are recognized as a component of other long-term liabilities in the consolidated balance sheets.

The following table presents the obligations and asset information for the non-U.S. defined benefit plan that has a projected benefit obligation in excess of plan assets:


	Fiscal Year Ended
	March 25, 2022		March 26, 2021
Projected benefit obligations	$	15,080	$	17,180
Plan assets	7,097		7,644
Accumulated benefit obligations	9,216		10,353

The amounts recorded in AOCI for the non-U.S. defined benefit plan for the fiscal years ended March 25, 2022 and March 26, 2021 are further detailed below:


	Net Transition Obligation (Asset)		Net Actuarial Loss		Prior Service Costs		Total




Balance, March 27, 2020, net of tax	$	224	$	2,017	5		$	2,246
2021 change in AOCI for non-U.S. defined benefit plan	74		2,242		(4)		2,312
Amounts in AOCI before tax	298		4,259		1		4,558
Less tax expense	74		1,066		—		1,140
Balance, March 26, 2021, net of tax	224		3,193		1		3,418
2022 change in AOCI for non-U.S. defined benefit plan	20		(665)		(104)		(749)
Amounts in AOCI before tax	244		2,528		(103)		2,669
Less tax expense	61		632		(26)		667
Balance, March 25, 2022, net of tax	$	183	$	1,896	$	(77)	$	2,002

There is no actuarial net gain or loss included in AOCI as of March 25, 2022 that is expected to be amortized into net periodic benefit cost over the next fiscal year.

As of March 25, 2022, the Company does not expect a return of plan assets during the next 12 months.

Assumptions and Investment Policies

Weighted-Average Assumptions Used to Determine Projected Benefit Obligation


	March 25, 2022		March 26, 2021
Non-U.S. assumed discount rate	5.58	%	4.00	%
Non-U.S. rate of compensation increase	5.50	%	5.00	%

Weighted-Average Assumptions Used to Determine Net Periodic Benefit Cost


	March 25, 2022		March 26, 2021		March 27, 2020
Non-U.S. assumed discount rate	5.58	%	4.00	%	4.98	%
Non-U.S. expected long-term return on plan assets	4.10	%	4.20	%	5.20	%
Non-U.S. rate of compensation increase	5.50	%	5.00	%	5.00	%

Information on Plan Assets

The table below sets forth the fair value of the entity’s plan assets as of March 25, 2022 and March 26, 2021, using the same three-level hierarchy of fair value inputs described in Note 2, “Summary of Significant Accounting Policies”:


	Fair Value at March 25, 2022		Level 1		Level 2		Level 3
Assets of non-U.S. defined benefit plan:
Government securities	$	1,920	$	1,920	$	—	$	—
Unit investment trust fund	1,165		—		1,165		—
Loans	553		—		—		553
Bonds	676		—		676		—
Stocks and other investments	2,783		1,716		2		1,065
Total	$	7,097	$	3,636	$	1,843	$	1,618


	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 fiscal years ended March 25, 2022, March 26, 2021 and March 27, 2020:


	Level 3 Non-U.S. Defined Plan Assets
	Loans		Stocks
Balance at March 29, 2019	$	760	$	353
Additions during the year	271		—
Redemptions during the year	(300)		—
Change in foreign currency exchange rates	25		11
Balance at March 27, 2020	$	756	$	364
Additions during the year	325		—
Redemptions during the year	(531)		—
Revaluation of equity securities	—		753
Change in foreign currency exchange rates	34		16
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	(45)		(81)
Balance at March 25, 2022	$	553	$	1,065

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”), has added a greater proportion of fixed income securities to the non-U.S. defined benefit plan 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.

Cash Flows

During the fiscal years ended March 25, 2022, March 26, 2021 and March 27, 2020, the Company contributed approximately $1,369, $986 and $943 to its non-U.S. pension plan, respectively. The Company expects to contribute approximately $1,546 to its non-U.S. pension plan in fiscal year 2023.

Estimated Future Benefit Payments

The following table projects the benefits expected to be paid to participants from the plans in each of the following fiscal years. The majority of the payments will be paid from plan assets, not company assets.


	Pension Benefits
2023	$	1,459
2024	953
2025	1,004
2026	1,014
2027	1,383
Thereafter	8,885
Total	$	14,698

Other Defined Benefit Plan

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 2022, 2021 and 2020. The total values of the Pension Promise in the amounts of 661 and 928 British Pounds Sterling at March 25, 2022 and March 26, 2021, respectively (approximately $875 and $1,272 at March 25, 2022 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 consolidated balance sheets.

Defined Contribution Plan

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 $4,074, $3,687 and $3,792 for the fiscal years ended March 25, 2022, March 26, 2021 and March 27, 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 $1,065, $507 and $372 for the fiscal years ended March 25, 2022, March 26, 2021 and March 27, 2020, respectively.

The Company has a 401(k) plan that covers all U.S. 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 (“IRS”). All employees are 100% vested in their contributions at the time of plan entry. As of January 1, 2008, and until January 1, 2015, the Company’s former wholly-owned subsidiary, PSL, adopted and used a Safe Harbor provision, whereby PSL contributed 3% of compensation each pay period for all eligible employees meeting the Safe Harbor criteria. As of January 1, 2015, PSL may match, at its discretion, 100% of the employee’s contribution, up to a maximum of 5% of their eligible compensation.

- Definition

The entire disclosure for retirement benefits.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 55
-Paragraph 17
-URI http://asc.fasb.org/extlink&oid=123450688&loc=d3e4179-114921

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section S99
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=21916913&loc=d3e273930-122802

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (d)(i)
-URI http://asc.fasb.org/extlink&oid=123447040&loc=d3e1928-114920

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (o)
-URI http://asc.fasb.org/extlink&oid=123447040&loc=d3e1928-114920

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (p)
-URI http://asc.fasb.org/extlink&oid=123447040&loc=d3e1928-114920

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 70
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=49170846&loc=d3e28014-114942

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-URI http://asc.fasb.org/topic&trid=2235017

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 60
-Section 50
-Paragraph 3
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=6414203&loc=d3e39689-114964

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (d)(iv)(03)
-URI http://asc.fasb.org/extlink&oid=123447040&loc=d3e1928-114920

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (q)
-URI http://asc.fasb.org/extlink&oid=123447040&loc=d3e1928-114920

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (r)(1)
-URI http://asc.fasb.org/extlink&oid=123447040&loc=d3e1928-114920

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (d)(iii)
-URI http://asc.fasb.org/extlink&oid=123447040&loc=d3e1928-114920

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (l)
-URI http://asc.fasb.org/extlink&oid=123447040&loc=d3e1928-114920

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (r)(2)
-URI http://asc.fasb.org/extlink&oid=123447040&loc=d3e1928-114920

+ Details

Commitment and Contingencies	12 Months Ended
Commitment and Contingencies	Mar. 25, 2022
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Noncancellable purchase obligations Future minimum payments under purchase obligations with suppliers as of March 25, 2022 totaled $53,717, which are all expected to be procured in fiscal year 2023. 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 consolidated financial position and results of operations. The accrued liability related to self-insurance was $417 and $1,518 as of March 25, 2022 and March 26, 2021, respectively, and was included in accrued expenses and other current liabilities in the Company’s 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 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, 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. Furthermore, the Company does not believe there are any matters that could have a material adverse effect on financial position, results of operations or cash flows. 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 March 25, 2022 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 consolidated statements of operations during the period such determination was made. No significant environmental accruals were established at March 25, 2022 or March 26, 2021.

Net Income per Share

12 Months Ended

Mar. 25, 2022

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”). Additional detailed discussion is included in Note 19, “Common Stock and Stock-Based Compensation.”

Prior to the Company’s IPO, Class A shares 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 attributable to the Class A stockholders for computing basic and diluted earnings per share for the fiscal year ended March 27, 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 10,000,000 shares for the fiscal year ended March 27, 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.


	Fiscal Year Ended
	March 25, 2022		March 26, 2021		March 27, 2020
Net income attributable to Allegro MicroSystems, Inc.	$	119,407	$	17,953	$	36,971
Net income attributable to common stockholders	119,555		18,101		37,105
Basic weighted average common shares	189,748,427		83,448,055		10,000,000
Dilutive effect of common stock equivalents	2,062,778		92,968,590		—
Diluted weighted average common shares	191,811,205		176,416,645		10,000,000
Basic net income attributable to Allegro MicroSystems, Inc. per share	$	0.63	$	0.22	$	3.70
Basic net income attributable to common stockholders per share	$	0.63	$	0.22	$	3.71
Diluted net income attributable to Allegro MicroSystems, Inc. per share	$	0.62	$	0.10	$	3.70
Diluted net income attributable to common stockholders per share	$	0.62	$	0.10	$	3.71

The computed net income per share for the fiscal years ended March 25, 2022, March 26, 2021 and March 27, 2020 does not assume conversion of securities that would have an antidilutive effect on income per share. There were 3,622 contingently issuable shares under the employee stock purchase plan excluded for the fiscal year ended March 25, 2022, as such securities would have an antidilutive effect on net income per share. There were 273 RSUs excluded for fiscal year ended March 26, 2021 as conversion of such securities would have an antidilutive effect on net income per share. There were no such convertible securities to consider for the fiscal year ended March 27, 2020.

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


	Fiscal Year Ended
	March 25, 2022	March 26, 2021	March 27, 2020
Restricted stock units	1,066,406	308,811	—
Performance stock units	996,372	218,678	—
Employee stock purchase plan	—	2,914	—
Shares related to Common Stock Conversion	—	92,438,187	—
Total	2,062,778	92,968,590	—

Common Stock and Stock-Based Compensation

12 Months Ended

Mar. 25, 2022

Share-based Payment Arrangement [Abstract]

Common Stock and Stock-Based Compensation

On November 2, 2020, the Company closed its IPO of 28,750,000 shares of its common stock at an offering price of $14.00 per share, of which 25,000,000 shares were sold by the Company and 3,750,000 shares were sold by selling stockholders, resulting in net proceeds to the Company of approximately $321,425, after deducting $20,125 of underwriting discounts and $8,450 of estimated offering costs. The Company’s common stock is now listed on the Nasdaq Global Select Market under the ticker symbol “ALGM.”

Prior to the IPO, the Company had two classes of common stock, Class A common stock and Class L common stock. The Company’s Board of Directors authorized 12,500,000 shares of Class A common stock at par value of $0.01, out of which the Company issued 6,720,000 to Sanken in exchange for its previous common shares. The previous single class of common stock was retired in full. The Company sold 2,880,000 of newly issued shares of Class A common stock, representing a 28.8% ownership interest, to OEP SKNA, L.P. (the “OEP Investor”) for cash consideration of $291,000. The stock issuance proceeds were recorded net of $9,260 of related transaction costs. The Company’s Board of Directors authorized 1,000,000 shares of Class L common stock at a par value of $0.01.

Both Class A and Class L common stock were entitled to dividends, when, and if declared by the Board of Directors. Holders of shares of Class A common stock were entitled to a priority dividend of 8%. After holders of shares of Class A common stock receive an annualized return on capital of 8%, distributions of the remaining value were split between holders of shares of Class A common stock and Class L common stock based on the achievement of certain return targets.

Concurrent with the issuance of the Term Loan Facility on September 30, 2020 (as defined in Note 14, “Debt and Other Borrowings”), the Company paid a cash dividend in the aggregate amount of $400,000 to holders of the Company’s Class A common stock.

Each outstanding share of Class A common stock entitled the holder to one vote on each matter submitted to a vote of the stockholders of the Company, including the election of the Board of Directors. Holders of Class L common stock were not entitled to vote.

In the event of voluntary or involuntary liquidation, dissolution or winding-up of the Company, any amounts available for distribution by the Company were to be paid to the holders of Class A common stock and Class L common stock, as if such distribution were a dividend paid, factoring in the priorities as described above.

Upon the earliest of (i) an IPO; (ii) change of control; (iii) the date OEP and its affiliates cease to own any shares of capital stock of the Company; or (iv) at the election of the Board of Directors, any merger transaction involving the Company or its subsidiaries, each outstanding share of Class L common stock would convert into Class A common stock.

Also, in connection with the OEP transaction, the Company granted 400,000 unvested Class A shares and 597,400 of unvested Class L shares to certain Company employees. The Class A shares vest to the grantees over a service period of 60 months. However, they remain subject to the Company’s repurchase right at par value in the event that either (i) a change in control has not occurred or (ii) the Company has not consummated an IPO by the seventh anniversary of the OEP transaction. As of March 27, 2020, the Company was not able to determine whether such a change in control or IPO was probable, and therefore no amount of stock-based compensation was recognized for the unvested shares of Class A common stock at that time. As a result of the Company’s IPO closing on November 2, 2020, the unvested shares of Class A common stock immediately become vested and the Company recognized $40,440 of one-time stock-based compensation (400,000 shares to management at $101.10 per share) at that time.

The Class L unvested shares vested on a straight-line basis over a service period of four years. Class L unvested shares had no other vesting conditions. If an IPO occurred, 25% of the unvested awards would accelerate vesting if 25% or more of the awards are unvested at the time of the IPO. If a change in control occurs, 100% of the then unvested awards would accelerate vesting. Accordingly, based on the Company’s IPO closing on November 2, 2020, the Company accelerated the vesting of the 25% unvested awards at that time.

Prior to the IPO, the Company issued 17,203 shares of Class L common stock with a weighted average price per share of $33.83 during fiscal 2021 and issued 30,300 shares of Class L common stock with a weighted average price per share of $26.93 during fiscal 2020.

On October 2, 2020, the Company repurchased an aggregate of 1,997 shares of its Class L common stock from certain of its directors and one of its non-executive employees for an aggregate purchase price of $408 in connection with, (i) in the case of such directors, the settlement of certain outstanding promissory notes issued by the Company to such directors, and (ii) in the case of such non-executive employee, to satisfy certain withholding tax obligations triggered by the vesting of such shares in accordance with the terms of the applicable award agreement.

Immediately following the pricing of the IPO on November 2, 2020, 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. 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, 2,066,468 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, to withhold to cover tax transactions. Outstanding loan amounts related to Class L common stock in the aggregate amount of $753 were extinguished on October 2, 2020.

The following table presents the respective number of shares of common stock and unvested restricted common stock issued in the Common Stock Conversion. The number of shares of common stock and unvested restricted common stock issuable are based upon the vesting provisions of the outstanding shares and reflect the shares vested and unvested at the date of conversion.


	Shares of Common Stock	Shares of Unvested Restricted Common Stock	Total Shares of Common Stock
Class A common stock	156,155,403	—	156,155,403
Class L common stock	7,816,614	459,749	8,276,363
Total	163,972,017	459,749	164,431,766

Prior to the IPO, there were 638,298 shares of Class L common stock outstanding at a weighted average price per share of $11.99. As noted in the above table, as part of the Common Stock Conversion, the Class L common stock was converted to 7,816,614 shares of common stock and 459,749 of unvested restricted common stock at weighted average prices per share of $14.00.

In connection with its IPO, the Company offered certain employees (excluding its named executive officers) who were eligible to receive cash bonuses under the Company’s LTCIP and TRIP the opportunity to elect to receive RSUs under its 2020 Omnibus Incentive Compensation Plan in lieu of cash payouts under the LTCIP and/or TRIP, through the RSU Conversion Program. Refer to Note 12, “Management Long-Term Cash Incentive Plan” for more details.

The following table summarizes RSU activity for the fiscal years ended March 25, 2022 and March 26, 2021:


	Number of Shares	Weighted-Average Grant-Date Fair Value		Weighted-Average Remaining Contractual Life (In years)	Aggregate Intrinsic Value


Outstanding - March 27, 2020	—	$	—	—	$	—
Granted	1,428,932	14.06
Vested	(160,063)	14.00
Canceled	(43,713)	14.00
Outstanding - March 26, 2021	1,225,156	$	14.07	1.70	$	30,960
Granted	1,344,717	26.00
Vested	(622,508)	20.33
Canceled	(246,358)	19.02
Outstanding - March 25, 2022	1,701,007	$	20.50	1.27	$	49,635

The weighted-average grant fair value per share for RSUs granted during the fiscal year ended March 25, 2022 was $26.00, and the stock-based compensation expense related to non-vested awards not yet recorded at March 25, 2022 was $22,790, which is expected to be recognized over a weighted-average of 1.27 years. During the fiscal year ended March 25, 2022, 622,508 shares vested.

The Company also awards PSUs to its senior executive officers based on achievement of medium-term plans (“MTP”) approved in meetings of its Board of Directors for establishing target performances. Each award reflects a target number of shares (“Target Shares”) that may be issued to the award recipient. In fiscal year 2021, these awards are earned upon the completion of a three-year performance period ending March 31, 2023. Whether units are earned at the end of the performance period will be determined based on the achievement of certain performance objectives over the performance period. The performance objectives include achieving certain revenue improvement and cumulative EBITDA levels for the performance period, and also include a performance objective relating to relative total shareholder return (“TSR”). Depending on the results achieved during the three-year performance period, the actual number of shares that a grant recipient may receive at the end of the period ranges from 0% to 200% of the Target Shares granted.

The weighted-average fair value of the PSUs was determined using the Monte Carlo simulation model incorporating the following weighted-average assumptions:


									Fiscal Year Ended
									March 26, 2021
Performance term									2.42 years
Volatility									49.9%
Risk-free rate of return									0.17%
Dividend yield									—%
Weighted-average fair value per share									$14.00

The following table summarizes PSU activity for the fiscal years ended March 25, 2022 and March 26, 2021:


	Number of Shares	Weighted-Average Grant-Date Fair Value		Weighted-Average Remaining Contractual Life (In years)	Aggregate Intrinsic Value


Outstanding - March 27, 2020	—	$	—	—	$	—
Granted	650,302	15.05
Vested	—	—
Canceled	—	—
Outstanding - March 26, 2021	650,302	$	15.05	2.65	$	16,433
Granted	465,732	27.08

Vested	—	—
Canceled	(160,951)	19.19
Outstanding - March 25, 2022	955,083	$	20.22	1.51	$	27,869

PSUs are included at 100% - 200% of target goals. The intrinsic value of the unvested PSUs during the fiscal year ended March 25, 2022 was $27,869. The total compensation cost related to unvested awards not yet recorded at March 25, 2022 was $12,893, which is expected to be recognized over a weighted average of 1.51 years. No shares were vested during fiscal year ended March 25, 2022.

The following table summarizes unvested restricted common stock activity for the fiscal years ended March 25, 2022 and March 26, 2021:


	Number of Shares	Weighted-Average Grant-Date Fair Value		Weighted-Average Remaining Contractual Life	Aggregate Intrinsic Value


Outstanding - March 27, 2020	—	—		—	—
Common stock conversion	459,749	14.00
Vested	(50,170)	14.00
Canceled	(3,252)	14.00
Outstanding - March 26, 2021	406,327	$	14.00	1.79	$	—
Vested	(241,787)	14.00
Canceled	(24,014)	—
Outstanding - March 25, 2022	140,526	$	14.00	1.07	$	4,101

In connection with the Company’s IPO, the Company had filed a registration statement on Form S-8 registering 1,545,891 shares of the Company’s common stock available for future issuance under an employee stock purchase plan (“ESPP”), which number consists of (a) 832,400 shares of common stock initially available for issuance under the ESPP, and (b) an additional 713,491 shares of common stock that may become issuable under the ESPP pursuant to its terms.

The ESPP, which is maintained by the Company, allows employees to purchase the Company’s common stock at 85% of the lesser of the stock price at the beginning or end of the offering period. Each offering period is six months in length. The Company’s first offering period started on January 1, 2021 and continued until June 30, 2021.

The weighted-average fair value of the ESPP shares was determined using the Black-Scholes model incorporating the following weighted-average assumptions:


	Fiscal Year Ended
	March 25, 2022	March 26, 2021
Performance term	0.50 years	0.50 years
Volatility	48.10%	55.02%
Risk-free rate of return	0.10%	0.09%
Dividend yield	—%	—%
Weighted-average fair value per share	$8.25	$7.77

As of March 25, 2022, the total unrecognized compensation cost related to the ESPP was $272 and this amount is expected to be recognized over 0.27 years.

For the fiscal year ended March 25, 2022, the Company recognized stock-based compensation charges of $19,918, $11,997, $424, $1,099 and $110 for its RSUs, PSUs, restricted common stock, ESPP and phantom stock, respectively. Upon completion of its IPO, the Company recognized one-time stock-based compensation charges of $40,440 in connection with the vesting of all outstanding shares of Class A common stock, $1,610 in connection with the automatic acceleration of 25% of the standard vesting term of shares of Class L common stock and $1,028 with the RSU Conversion Program (see above and Note 12, “Management Long-Term Cash Incentive Plan”). In addition, the Company recognized stock-based compensation charges of $1,169 for its Class L common stock for the fiscal year ended March 26, 2021 and stock-based compensation charges of $5,729, $1,269, $174 and $247 for its RSUs, PSUs, restricted common stock and ESPP, respectively, for the fiscal year ended March 26, 2021. All stock-based compensation charges in fiscal 2020 related to expensing of the Company’s Class L common stock. The Company recorded stock-based compensation expense in the following expense categories of its consolidated statements of operations:


	Fiscal Year Ended
	March 25, 2022		March 26, 2021		March 27, 2020
Cost of sales	$	3,176	$	5,158	$	183
Research and development	3,933		3,573		87
Selling, general and administrative	26,439		41,139		1,165
Total stock-based compensation	$	33,548	$	49,870	$	1,435

Phantom Stock Grants

On January 1, 2022, the Company issued an award of 5,733 restricted cash units to an employee of a professional employer organization that provides services to the Company. Each restricted cash unit represents the right of the grantee to receive cash payment, upon time-based vesting, equal to the market price of the Company’s common stock. The restricted cash units do not possess the rights of common stockholders of the Company, including voting and dividend rights, and cannot be exercised or traded for the Company’s common stock. Additionally, the carrying value of the restricted cash units fluctuates with the market price of the Company’s common stock and represents the expected cash value of the units at a point in time. Due to the cash settlement feature, the restricted cash units are classified as liabilities in accrued expenses and other current liabilities and other long-term liabilities in the consolidated balance sheets for the current and long-term portions of the obligations, respectively. As of March 25, 2022, the restricted cash units will vest over a remaining period of 2.15 years. As of March 25, 2022, no restricted cash units had fully vested.

Income Taxes

12 Months Ended

Mar. 25, 2022

Income Tax Disclosure [Abstract]

Income Taxes

The components of income before income taxes include the following:


	Fiscal Year Ended
	March 25, 2022		March 26, 2021		March 27, 2020
Income before provision for income taxes attributable to:
Domestic operations	$	121,883	$	(2,288)	$	34,425
Foreign operations	18,863		837		18,853
Total	$	140,746	$	(1,451)	$	53,278

Significant components of the provision (benefit) for income taxes are as follows:


	Fiscal Year Ended
	March 25, 2022		March 26, 2021		March 27, 2020
Current:
Federal	$	7,779	$	(3,821)	$	15,146
State	1,553		1,085		1,468
Foreign	4,361		2,115		4,468
Total current	13,693		(621)		21,082
Deferred:
Federal	7,892		(17,564)		(4,431)
State	371		(1,016)		18
Foreign	(765)		(351)		(496)
Total deferred	7,498		(18,931)		(4,909)
Total income tax provision	$	21,191	$	(19,552)	$	16,173

The difference between the tax provision at the statutory federal tax rate and the provision for income taxes is as follows:


	Fiscal Year Ended
	March 25, 2022		March 26, 2021		March 27, 2020
Tax provision at U.S. statutory rate	$	29,557	$	(305)	$	11,189
162(m) limitation	3,988		—		—
Stock based compensation	(230)		(13,303)		—
CARES carryback claim and amended returns	(2,031)		(3,834)		—
PSL Divestiture	—		(2,009)		—
Research and development tax credit	(2,823)		(2,162)		(1,841)
FDII	(9,066)		—		(1,188)
BEAT	—		—		1,694
GILTI	—		—		86
Transaction costs	307		1,498		—
Foreign tax rate	(157)		1,279		283
State income taxes, net of federal benefit	2,370		356		514
Deferred tax remeasurement	—		309		—
Subpart F income, net of credits	283		43		—
Provision for uncertain tax positions	(17)		26		361
Provision for IRS audit settlement	—		—		5,491

Gain on contingent purchase price reduction	(420)		(525)		—
Cumulative provision-to-return	(590)		(862)		(186)
Other	20		(63)		(230)
Total income tax provision	$	21,191	$	(19,552)	$	16,173

The increase in income tax expense in fiscal year 2022 as compared to fiscal year 2021 relates primary to tax impacts of the fiscal year 2021 IPO transaction. The fiscal year 2021 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, and the tax loss on the divestiture of PSL. The tax impacts of these transactions and other discrete transactions caused an overall U.S. NOL for fiscal year 2021 that will be carried back five years. Additional fluctuations in our effective income tax rate relate primarily to differences in our U.S. and foreign taxable income, estimated FDII benefits, GILTI income, research credits, non-deductible stock-based compensation charges, and discrete tax items.

Except for AMTC prior to its sale, the Company has the ability and intent to permanently reinvest its foreign earnings based on expected future U.S. cash flows and specific and measurable plans to use its existing foreign cash to fund its working capital needs, invest in short-term and long-term capital projects, and to make investments and acquisitions. Since AMTC’s operations have ceased, the Company may receive future liquidating distributions; however, such distributions are estimated to result in no material incremental U.S. or local tax. Therefore, no deferred tax liability has been established with respect to outside basis difference in its foreign subsidiaries.

Deferred income taxes reflect the net tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. Significant components of the Company’s deferred tax assets and liabilities are as follows:


	March 25, 2022		March 26, 2021
Deferred income tax assets:
Net operating loss	$	2,106	$	11,054
Bonuses, commissions and other compensation	11,137		9,304
Tax credits	6,454		8,698
Inventory and sales related	5,892		6,304
Stock-based compensation	2,837		821
Right-of-use liability	2,221		—

Other accruals and reserves	2,067		2,050
Gross deferred income tax assets	32,714		38,231
Valuation allowance for deferred income tax assets	(5,070)		(5,025)
Total deferred income tax assets	27,644		33,206
Deferred income tax liabilities:
Fixed assets and intangibles	(4,720)		(4,366)
Equity method and other investments	(2,801)		(1,868)
Right-of-use asset	(2,156)		—

Total deferred income tax liabilities	(9,677)		(6,234)
Net deferred income tax assets	$	17,967	$	26,972

As of March 25, 2022, the Company has $2,106 in NOLs related to our Thailand operations. Additionally, the Company has $3,490 and $2,964 in research credits related to its French subsidiary and state filings, respectively.

In assessing the realizability of its deferred tax assets, the Company considered whether it was more likely than not that some portion or all of the deferred tax assets would not be realized. The realization of deferred tax assets depends upon the generation of future taxable income during the periods in which these temporary differences become deductible. The Company established a valuation allowance for its Thailand NOLs of $2,106 and state research credits of $2,964 because such assets will not to be utilized by the Company prior to expiration.

The Company is completing carryback claim filings allowable under the CARES Act to utilize NOLs and carryover credits generated during fiscal year 2021. The filings will carryback $8,364 in Federal NOLs, $2,631 in U.S. research credits, and $305 in foreign tax credits to prior taxable periods. These amounts, along with an estimated rate benefit of $4,463 have all been classified as a long-term tax receivable as of March 25, 2022.

Uncertain Tax Positions

As of March 25, 2022, the Company had $2,459 of gross unrecognized tax benefits, of which $2,433 would impact the effective tax rate, if recognized. As of March 26, 2021, the Company had $2,554 of gross unrecognized tax benefits, of which $2,542 would impact the effective tax rate, if recognized. As of March 27, 2020, the Company had $2,559 of gross unrecognized tax benefits, of which $2,501 would impact the effective tax rate, if recognized.


	Fiscal Year Ended
	March 25, 2022		March 26, 2021		March 27, 2020
Beginning balance	$	2,554	$	2,559	$	6,264
Gross increases-tax positions in prior period	—		55		4,863
Gross decreases-tax positions in prior period settlement	—		—		(8,513)
Lapse in statute of limitations	(95)		(60)		(55)
Balance at end of period	$	2,459	$	2,554	$	2,559

The Company classifies uncertain tax positions as a current liability, or as a reduction of the amount of a net operating loss carryforward or amount refundable, to the extent that the Company anticipates payment or receipt of cash for income taxes within one year. Likewise, the amount is classified as a long-term liability if the Company anticipates payment or receipt of cash for income taxes during a period beyond one year.

The Company believes that all tax positions are adequately provided for; amounts asserted by tax authorities could be greater or less than the accrued position. Accordingly, the Company’s provisions for federal, state and foreign tax related matters to be recorded in the future might change as revised estimates are made, or the underlying matters are settled or otherwise resolved.

The Company’s policy is to classify interest expense and penalties, if any, as components of the income tax provision in the consolidated statements of operations. The Company recorded net increases of $58, $73 and $841 in interest, penalties and releases during fiscal years 2022, 2021 and 2020, respectively. As of March 25, 2022 and March 26, 2021, the amount of accrued interest and penalties totaled approximately $324 and $232, respectively.

Examinations by Tax Authorities

The Company, through its subsidiaries, is subject to examination by taxing authorities in the United States, the Philippines, United Kingdom, Thailand, and the states in which the Company does business. The statute of limitations remains open for U.S. federal tax returns for 2017 and the following years. Audit activities related to the U.S. federal tax returns for 2016 and 2017 concluded during fiscal year 2020 resulting in a settlement related to transfer pricing for fiscal years 2016, 2017 and 2018 in the amount of $9,482 including interest. In non-U.S. jurisdictions, the years open to audit represent the years still open under the respective statute of limitations. With respect to the major jurisdictions outside the U.S., the subsidiaries are no longer subject to income tax audits for years before 2014.

Capital Contribution

In connection with the settlement noted above, Sanken agreed to make a one-time capital contribution in the amount of $9,500 to neutralize the cash impact to the Company. All ownership parties have agreed that this contribution would not result in an incremental ownership percentage change or increase in shares by Sanken.

- 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
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 21
-URI http://asc.fasb.org/extlink&oid=121826272&loc=d3e32857-109319

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SAB Topic 11.C)
-URI http://asc.fasb.org/extlink&oid=122134291&loc=d3e330215-122817

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 17
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=121826272&loc=d3e32809-109319

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section S99
-Paragraph 1
-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	12 Months Ended
Related Party Transactions	Mar. 25, 2022
Related Party Transactions [Abstract]
Related Party Transactions	Related Party Transactions Public Offering of the Company’s Common Stock by Certain Stockholders On February 2, 2021, the Company filed a Registration Statement on Form S-1 for the public offering of shares owned by certain selling stockholders, including Sanken, OEP and certain of the Company’s officers and directors. The selling stockholders sold 19,332,852 shares of the Company’s common stock, including 1,832,852 shares of common stock sold by OEP in connection with the underwriters’ exercise of their over-allotment option. The Company did not sell any shares of its common stock and did not receive any of the proceeds from the offering. However, the Company incurred expenses, costs and fees in connection with the offering, including registration, filing and listing fees, printing fees and legal and accounting expenses, in the amount of $1,790 for the fiscal year ended March 26, 2021, which are included in selling, general and administrative expense in the accompanying consolidated statements of operations and comprehensive income. Transactions Involving Sanken The Company sells products 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 to Sanken totaled $148,813, $104,661 and $184,557 during the fiscal years ended March 25, 2022, March 26, 2021 and March 27, 2020, respectively. Trade accounts receivables, net of allowances from Sanken totaled $27,256 and $21,595 as of March 25, 2022 and March 26, 2021, respectively. Other accounts receivable from Sanken totaled $104 and $198 as of March 25, 2022 and March 26, 2021, respectively. During fiscal year 2020, the Company acted as a distributor of Sanken’s products. Net sales of Sanken’s products by the Company to third parties totaled $35,421 during the fiscal year ended March 27, 2020. On March 28, 2020, the Company formally terminated its distribution agreement with Sanken to distribute Sanken’s products. Purchases of various products from Sanken totaled $31,917 for the fiscal year ended March 27, 2020. Accounts payable to Sanken totaled $4,494 as of March 27, 2020. Termination of Sanken Distribution Agreement In May 2022, the Company issued a letter of intent with Sanken to develop a plan to transition the supply chain and sales activity in Japan from Sanken to the Company. During the planning process, both parties will define the transition timeline and method for customer communication, supply chain transfer and sales coverage. Parties will also define a method to continue engagement with Sanken on the support of select customers. Joint Development Agreement (“Development Agreement”) The Company, through its former wholly owned subsidiary, PSL, entered into a Development Agreement with Sanken whereby the Company and Sanken jointly own a specific wafer technology and share the reimbursement of development costs incurred by the Company. Sanken reimbursed $1,440 in fiscal year ended March 27, 2020. Sanken reimbursed no amounts in the fiscal years ended March 25, 2022 and March 26, 2021. Short-term Bridge Loan Receivable to Sanken In March 2019, the Company entered into a short-term bridge loan to Sanken in the amount of $30,000. The loan bore interest of 2.52% and was repaid in April 2019. Interest income related to the loan to Sanken was $55 in the fiscal year ended March 27, 2020. Notes Payable and Line-of credit from Sanken The Company, through PSL, its former wholly owned subsidiary, had related party debt owed to Sanken that includes three notes payable in the aggregate amount of $17,700 and two lines-of-credit agreements in the aggregate amount of $25,000 at March 27, 2020. The interest rates on the related party debt were reset at the beginning of each calendar quarter to LIBOR on the last trading day of the previous month, plus a 1.0% spread. Related party interest expense consisting of amounts due to Sanken for intercompany notes payable, lines-of-credit and miscellaneous charges for the fiscal year ended March 27, 2020 amounted to $1,444, and related party interest paid for the same period amounted to $1,538. In connection with the PSL Divestiture, the total $42,700 balance was contributed in-kind for the fair value of the 70% interest that Sanken acquired. Transactions involving PSL In accordance with the PSL Divestiture, the Company had both intercompany accounts payable of $1,198 and accounts receivable of $3,368 that were previously eliminated in consolidation. The previous intercompany receivable balance of $3,368 was moved into trade and other accounts receivable due from related party as of March 28, 2020. In addition, as a result of PSL taking over the Sanken distribution business, as of March 26, 2021, the Company reflected a related accounts receivable balance of $767. This amount includes reductions of $767 and $2,601 from payments made by PSL during the fiscal years ended March 25, 2022 and March 26, 2021, respectively. No accounts receivable balance was recorded as of March 25, 2022. 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 fiscal year ended March 25, 2022, the Company (through PSL) received no fees from Sanken and paid no fees to PSL pursuant to the IC Technology Development Agreement. During each of the fiscal years ended March 26, 2021 and March 27, 2020, the Company (through PSL) received fees of $1,200 from Sanken pursuant to the IC Technology Development Agreement, and during the same periods the Company paid fees of $1,200 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, undertook 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 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 related party under this 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. The Company continues to purchase in-process products from PSL. Purchases of various products from PSL totaled $55,297 and $42,196 for the fiscal years ended March 25, 2022 and March 26, 2021, respectively. This amount includes none and $5,930 of price support payments made for the fiscal years ended March 25, 2022 and March 26, 2021, respectively. In accordance with the PSL Divestiture, the Company had intercompany accounts payable of $1,198 that was previously eliminated in consolidation. The previous intercompany payable balance of $1,198 was moved into amounts due to related party as of March 28, 2020. Accounts payable to PSL included in amounts due to related party totaled $5,222 and $1,739 as of March 25, 2022 and March 26, 2021, respectively. These amounts include reductions of $5,222 and $1,198 from payments made to PSL during the fiscal years ended March 25, 2022 and March 26, 2021, respectively. Notes Receivable from PSL On March 28, 2020, in connection with the PSL Divestiture, the Company contributed the forgiveness of the fair value of $15,000 out of the $66,377 total debt owed by PSL to the Company, which was previously eliminated in consolidation as of March 27, 2020. As a result of the PSL Divestiture, on March 28, 2020, the $51,377 note receivable from PSL was classified on the Company’s balance sheet as related party note receivable. The related party note receivable held by the Company had a maturity date of March 28, 2027 and bore interest at a rate of 2.70%, which was a market rate determined by IRS guidance at the time of the divestiture. The entire receivable of $51,377 plus accrued interest of $762 was repaid on October 14, 2020. 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 (the “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 (the “Secondary PSL Loan” and, together with the Initial PSL Loan, the “PSL Promissory Notes”). PSL has informed the Company of its intent to elect its option of the Secondary PSL Loan during fiscal year 2023. 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. As of March 25, 2022, the outstanding balance of the PSL Promissory Notes was $7,500. On April 1, 2022, PSL made a quarterly payment to AML of $500, which included $31 of interest income. Transition Services Agreement As part of the PSL Divestiture, the Company, PSL and Sanken entered into the Transition Services Agreement (“TSA”), pursuant to which the Company agreed, among other things, to provide certain human resources, legal and distribution support services to PSL following the consummation of the PSL Divestiture. The TSA provides that the Company and its wholly owned subsidiaries AML and Allegro MicroSystems Europe Ltd. will provide such services in a manner generally consistent with the manner in which they were provided during the 12 months prior to the date of the TSA, and will not be obligated to perform any service in a manner that is materially more burdensome than the analogous services provided for or within its own organization or group during such 12-month period. The services contemplated by the TSA include human resources, legal and distribution support services. The applicable service period for human resources and legal services is 12 months, and fees payable for such services are $50 per year, invoiced on a quarterly basis. The applicable service period for distribution support services is six months with respect to services provided in North America and South America, and nine months with respect to services provided in Europe. All distribution support services are to be provided on a cost plus 10% basis. The Company received $25 under the TSA during each of the fiscal years ended March 25, 2022 and March 26, 2021. The TSA has an initial term of 12 months and may be extended for additional 12-month terms on an annual basis if the parties so agree prior to the expiration of the then-current term. Unless the TSA otherwise provides, PSL may terminate a specific service prior to the end of the term by providing at least 60 days’ prior written notice. The North America and South America portion of this agreement was terminated as of March 26, 2021. Transactions involving Sanken Electric Europe Ltd. (“SEEL”) During fiscal year ended March 26, 2021 and after the PSL Divestiture, Sanken, through PSL formed SEEL to cover its distribution business in Europe. The Company in connection with the TSA agreement with Sanken and PSL paid certain costs on behalf of them, and, as such, had related party accounts receivable from SEEL of none and $1,272 as of March 25, 2022 and March 26, 2021, respectively. Sublease Agreement In 2014, the Company, through one of its subsidiaries, entered into a sublease agreement with Sanken pursuant to which it subleases certain office building space in Japan from Sanken. The sublease automatically renews on an annual basis unless either party provides notice to the other party otherwise and can be terminated by either party upon providing six months’ notice. The Company made aggregate payments of approximately $200 to Sanken under the sublease agreement during each of the fiscal years 2022, 2021 and 2020. Consulting Agreement In September 2017 and prior to Reza Kazerounian becoming a member of the Company’s board of directors, the Company entered into a board executive advisor agreement, as amended in June 2018 (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 fiscal years ended March 25, 2022, March 26, 2021 and March 27, 2020, the Company paid aggregate fees of $260, $318 and $494, respectively, to Mr. Kazerounian pursuant to the Consulting Agreement.

Subsequent Events	12 Months Ended
Subsequent Events	Mar. 25, 2022
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events Chief Executive Officer Transition On May 9, 2022, the Company announced via press release and a Current Report on Form 8-K that its President and Chief Executive Officer, Ravi Vig, provided notice of his retirement from the Company and its Board of Directors on May 6, 2022. Mr. Vig’s retirement will become effective on June 13, 2022. On May 7, 2022, the Board of Directors of the Company appointed Vineet Nargolwala to serve as President and Chief Executive Officer of the Company effective June 13, 2022. In addition, the Company’s Board of Directors elected Mr. Nargolwala as a Class I director of the Board to serve until the Company’s 2024 annual meeting of stockholders and until his successor is elected or appointed and qualified or until his earlier death, resignation, disqualification or removal. Mr. Vig will work closely with Mr. Nargolwala and will consult with the Company up to six months after his retirement date to ensure a smooth and orderly transition of responsibilities. Mr. Nargolwala is a technology executive with over 25 years of global executive leadership experience. Prior to joining Allegro, Mr. Nargolwala previously served as Executive Vice President of Sensing Solutions at Sensata Technologies (NYSE: ST), a leading industrial technology company that develops sensors and sensor-based solutions for the automotive, heavy vehicle and off-road, industrial, and aerospace industries, from March 2020 to May 2022. Mr. Nargolwala joined Sensata as Vice President, Sensors Americas in February 2013 and was later promoted to Senior Vice President, Performance Sensing, North America, Japan and Korea in April 2016. In February 2019, he was appointed Senior Vice President, General Manager, Global Safety & Mobility, and in September 2019, he was appointed Senior Vice President, Sensing Solutions. Prior to Sensata, he was with Honeywell International Inc. for over nine years in business strategy and P&L leadership roles of increasing responsibility. Prior to Honeywell, Mr. Nargolwala was at Nortel Networks in product management and engineering roles. Mr. Nargolwala holds a Bachelor’s degree in Electrical Engineering from Maharaja Sayajirao University in Baroda, India, a Master’s degree in Electrical Engineering from the University of Texas and a Master of Business Administration from Cornell University.

Summary of Significant Accounting Policies (Policies)

12 Months Ended

Mar. 25, 2022

Accounting Policies [Abstract]

Use of Estimates

Reclassifications

Certain reclassifications have been made to prior-period amounts to conform to current-period reporting classifications.

Business Segment Information

Foreign Currency Transaction and Translations

Foreign Currency Translation and Transactions

Non-Controlling Interest

Cash Equivalents and Restricted Cash

Fair Value of Financial Instruments

Level 1 — Quoted prices in active markets for identical assets or liabilities.

The categorization of a financial instrument within the valuation hierarchy is based on the lowest level of input that is significant to the fair value measurement.

applied on a loan-by-loan basis when collectability of the future payments is reasonably assured. Premiums and discounts are recognized as yield adjustments over the term of the related loans.

A detailed description of fair value measurement of the assets of the non-U.S. defined benefit plan is included in Note 16, “Retirement Plans.”

Trade accounts receivable, net

Inventories

Assets Held for Sale

Property, Plant and Equipment, Net


Asset						Useful Life
Buildings						31 years
Building improvements						Economic life of the building improvements
Leasehold improvements						The shorter of the remaining term of the lease or estimated useful life
Machinery and equipment						3-10 years
Office equipment						3 years

Intangible assets, net

Impairment of Long-Lived Assets

Sales channels

Variable consideration

Practical expedients elected

Other Revenue Recognition Policies

Contract Assets and Contract Liabilities

Contract costs

Stock-Based Compensation

Pension Obligations

Income Taxes

Except for our AMTC Facility prior to its sale, all undistributed earnings of our foreign subsidiaries are permanently reinvested.

Accordingly, the Company does not provide for U.S. income taxes on such undistributed earnings.

Advertising Costs

Advertising CostsAdvertising costs are expensed, as incurred, as a component of sales expense.

Net Income Per Share

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, which management believes to be of a high credit quality. To manage credit risk related to accounts receivables, the Company evaluates its creditworthiness of its customers and maintains allowances, to the extend 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

Recently Issued Accounting Standards Not Yet Adopted

Summary of Significant Accounting Policies (Tables)

12 Months Ended

Mar. 25, 2022

Accounting Policies [Abstract]

Schedule of Estimated Useful Lives of Property, Plant, and Equipment

Estimated useful lives of the respective property, plant and equipment assets are as follows:


Asset						Useful Life
Buildings						31 years
Building improvements						Economic life of the building improvements
Leasehold improvements						The shorter of the remaining term of the lease or estimated useful life
Machinery and equipment						3-10 years
Office equipment						3 years

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


	March 25, 2022		March 26, 2021
Land	$	15,775	$	16,602
Buildings, building improvements and leasehold improvements	59,816		56,911
Machinery and equipment	542,745		491,025
Office equipment	6,247		6,281
Construction in progress	22,428		29,201
Total	647,011		600,020
Less accumulated depreciation	(436,983)		(407,627)
Total	$	210,028	$	192,393

Revenue from Contract with Customers (Tables)

12 Months Ended

Mar. 25, 2022

Revenue from Contract with Customer [Abstract]

Net Sales by Core End Market and Application

Net sales by core end market and application:


	Fiscal Year Ended
		March 25, 2022		March 26, 2021		March 27, 2020
Core end market:
Automotive		$	531,564	$	398,298	$	395,277
Industrial		133,187		94,872		78,399
Other		103,923		98,037		68,622
Other applications:
Wafer foundry products		—		—		72,370
Distribution of Sanken products		—		—		35,421
Total net sales		$	768,674	$	591,207	$	650,089

Revenue from External Customers by Products and Services

Net sales by product:


	Fiscal Year Ended
		March 25, 2022		March 26, 2021		March 27, 2020
Power integrated circuits (“PIC”)		$	268,381	$	203,600	165,911
Magnetic sensors (“MS”)		498,561		386,372		376,387
Photonics		1,732		1,235		—
Wafer foundry products		—		—		72,370
Distribution of Sanken products		—		—		35,421
Total net sales		$	768,674	$	591,207	$	650,089

Revenue from External Customers by Geographic Areas

Net sales by geography:


	Fiscal Year Ended
		March 25, 2022		March 26, 2021		March 27, 2020
Americas:
United States		$	108,396	$	82,165	119,139
Other Americas		23,056		16,558		20,883
EMEA:
Europe		134,537		103,128		110,126
Asia:
Japan		148,813		104,661		184,557
Greater China		191,895		157,546		121,807
South Korea		80,451		62,075		54,707
Other Asia		81,526		65,074		38,870
Total net sales		$	768,674	$	591,207	$	650,089

Fair Value Measurements (Tables)

12 Months Ended

Mar. 25, 2022

Fair Value Disclosures [Abstract]

Fair Value, by Balance Sheet Grouping


	Fair Value Measurement at March 25, 2022 Using:
	Level 1		Level 2		Level 3		Total
Assets:
Cash equivalents:
Money market fund deposits	$	16,927	$	—	$	—	$	16,927
Restricted cash:
Money market fund deposits	7,416		—		—		7,416
Other assets, net (long-term):
Investments in marketable securities	12,346		—		—		12,346
Total assets	$	36,689	$	—	$	—	$	36,689
Liabilities:
Other long-term liabilities:
Contingent consideration	$	—	$	—	$	2,800	$	2,800
Total liabilities	$	—	$	—	$	2,800	$	2,800


	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 fiscal year ended March 25, 2022:



Net gains and losses recognized during the period on equity securities	$	3,722
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	$	3,722

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

The following table shows the change in fair value of Level 3 contingent consideration for the fiscal years ended March 25, 2022 and March 26, 2021:


	Level 3 Contingent Consideration
Balance at March 27, 2020	$	—
Purchase price contingent consideration	7,300
Change in fair value of contingent consideration	(2,500)
Balance at March 26, 2021	$	4,800
Change in fair value of contingent consideration	(2,000)
Balance at March 25, 2022	$	2,800

Trade Accounts Receivable, net (Tables)

12 Months Ended

Mar. 25, 2022

Receivables [Abstract]

Schedule of Trade Accounts Receivable, Net

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


	March 25, 2022		March 26, 2021
Trade accounts receivable	$	129,539	$	108,546
Less:
Provision for expected credit losses and allowance for doubtful accounts	(105)		(138)
Returns and sales allowances	(14,819)		(15,274)
Related party trade accounts receivable	(27,256)		(23,634)
Total	$	87,359	$	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	Allowance for Doubtful Accounts		Returns and Sales Allowances		Total
Balance at March 29, 2019	$	412	$	17,607	$	18,019
Charged to costs and expenses or revenue	262		118,719		118,981
Write-offs, net of recoveries	(386)		(119,141)		(119,527)
Balance at March 27, 2020	288		17,185		17,473
Charged to costs and expenses or revenue	(150)		147,026		146,876
Write-offs, net of recoveries	—		(148,937)		(148,937)
Balance at March 26, 2021	138		15,274		15,412
Charged to costs and expenses or revenue	(33)		144,318		144,285
Write-offs, net of recoveries	—		(144,773)		(144,773)
Balance at March 25, 2022	$	105	$	14,819	$	14,924

Inventories (Tables)

12 Months Ended

Mar. 25, 2022

Inventory Disclosure [Abstract]

Schedule of Inventories

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


	March 25, 2022		March 26, 2021
Raw materials and supplies	$	11,941	$	9,629
Work in process	55,855		50,095
Finished goods	18,364		27,774

Total	$	86,160	$	87,498

Property, Plant and Equipment, net (Tables)

12 Months Ended

Mar. 25, 2022

Property, Plant and Equipment [Abstract]

Schedule of Property, Plant, and Equipment

Estimated useful lives of the respective property, plant and equipment assets are as follows:


Asset						Useful Life
Buildings						31 years
Building improvements						Economic life of the building improvements
Leasehold improvements						The shorter of the remaining term of the lease or estimated useful life
Machinery and equipment						3-10 years
Office equipment						3 years

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


	March 25, 2022		March 26, 2021
Land	$	15,775	$	16,602
Buildings, building improvements and leasehold improvements	59,816		56,911
Machinery and equipment	542,745		491,025
Office equipment	6,247		6,281
Construction in progress	22,428		29,201
Total	647,011		600,020
Less accumulated depreciation	(436,983)		(407,627)
Total	$	210,028	$	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 March 25, 2022 and March 26, 2021 are as follows:


	March 25, 2022		March 26, 2021
United States	$	35,221	$	36,529
Philippines	167,488		148,374
Thailand	—		1,698
Other	7,746		7,190
Total	$	210,455	$	193,791

Goodwill and Intangible Assets (Tables)

12 Months Ended

Mar. 25, 2022

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 27, 2020	$	1,285
Goodwill arising from acquisition	18,702
Currency translation	119
Balance at March 26, 2021	$	20,106
Currency translation	(97)
Balance at March 25, 2022	$	20,009

Schedule of Intangible Assets, Net

Intangible assets, net is as follows:


	March 25, 2022
Description	Gross		Accumulated Amortization		Net Carrying Amount		Weighted-Average Lives
Patents	$	36,577	$	15,304	$	21,273	10 years
Customer relationships	6,582		6,348		234		9 years
Process technology	13,100		1,742		11,358		12 years
Indefinite-lived and legacy process technology	4,050		1,650		2,400
Trademarks	200		64		136		5 years
Legacy trademarks	627		58		569
Other	32		32		—
Total	$	61,168	$	25,198	$	35,970


	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 March 25, 2022, annual amortization expense of intangible assets for the next five fiscal years is expected to be as follows:


2023	$	3,741
2024	3,593
2025	3,356
2026	3,115
2027	2,807
Thereafter	19,358
Total	$	35,970

Other Assets, net (Tables)

12 Months Ended

Mar. 25, 2022

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

Schedule of Other Assets, Net

The composition of other assets, net is as follows:


	March 25, 2022		March 26, 2021
VAT receivables long-term, net	$	6,386	$	8,177
Income taxes receivable long-term	15,763		—
Investments in marketable securities (1)	12,346		—
Deposits	10,525		3,573
Prepaid contracts long-term	1,236		1,295
Deferred financing costs	49		149
Other	1,304		1,419
Total	$	47,609	$	14,613

Accrued Expenses and Other Current Liabilities (Tables)

12 Months Ended

Mar. 25, 2022

Payables and Accruals [Abstract]

Schedule of Accrued Expenses and Other Current Liabilities

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


	March 25, 2022		March 26, 2021

Accrued management incentives	33,607		21,538
Accrued salaries and wages	14,699		15,060
Base acquisition purchase price due	—		14,588
Deposits on AMTC facility	—		14,531
Accrued vacation	5,715		5,739
Accrued severance	839		572
Accrued professional fees	1,252		2,029
Accrued income taxes	1,831		514
Accrued utilities	607		623
Other current liabilities	6,909		3,738
Total	$	65,459	$	78,932

Management Long-Term Incentive Plan (Tables)

12 Months Ended

Mar. 25, 2022

Schedule of Accrual Activity, Payments, Removal Due to Divestitures and Balances Related to the LTIP

The accrual activity, payments, removal due to divestitures and balances related to the LTCIP are as follows:


	Current Liabilities		Long-Term Liabilities
Balance at March 29, 2019	$	17,115	$	11,104
Reclassification	9,707		(9,706)
Payments	(17,836)		—
Accruals	2,502		1,041
Balance at March 27, 2020	$	11,488	$	2,439
Reclassification	1,004		(1,004)
Payments	(11,267)		(111)
RSU conversion	(640)		—
Removal due to divestiture	(378)		(398)
Accruals	(149)		(668)
Balance at March 26, 2021	58		258

Payments	(58)		—


Accruals	—		259
Balance at March 25, 2022	$	—	$	517

Leases (Tables)

12 Months Ended

Mar. 25, 2022

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:


	Fiscal Year Ended
		March 25, 2022
Lease costs:
Operating lease expense		$	4,648
Short term lease expense		584

Other information:
Operating cash flows from operating leases		$	5,289
Noncash lease liabilities arising from obtaining right-of-use assets		3,159
Weighted-average remaining lease term – operating leases		5.17 years
Weighted-average discount rate – operating leases		4.5		%

Schedule of Future Minimum Lease Payments for Noncancelable Operating Leases

As of March 25, 2022, expirations of lease obligations by fiscal year are expected as follows:


2023	$	4,335
2024	3,956
2025	3,300
2026	2,592
2027	1,788
Thereafter	2,602
Total undiscounted lease payments	$	18,573
Less: present value adjustment	(2,119)
Total operating lease liabilities	$	16,454

Schedule of Future Minimum Rental Payments

Future minimum lease payments by fiscal year for noncancellable operating leases as reported under the previous lease guidance as of March 26, 2021 were 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 (Tables)

12 Months Ended

Mar. 25, 2022

Debt Disclosure [Abstract]

Summary of Components of Debt

The following is a summary of obligations under the Company’s Senior Secured Credit Facilities and other borrowings as of March 25, 2022 and March 26, 2021:


	March 25, 2022		March 26, 2021
Senior Secured Term Loan	$	25,000	$	25,000
Unsecured Revolving Credit Facilities	—		—
Total Debt	25,000		25,000
Less debt payable within one year	—		—
Debt payable after one year	$	25,000	$	25,000

Other Long-Term Liabilities (Tables)

12 Months Ended

Mar. 25, 2022

Other Liabilities Disclosure [Abstract]

Schedule of Other Long-Term Liabilities

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


	March 25, 2022		March 26, 2021

Accrued management incentives	826		628
Accrued retirement	8,903		10,656
Accrued contingent consideration	2,800		4,800
Provision for uncertain tax positions (net)	2,757		2,774
Other	—		275
Total	$	15,286	$	19,133

Retirement Plans (Tables)

12 Months Ended

Mar. 25, 2022

Retirement Benefits [Abstract]

Schedule of Expense Related to Defined Benefit Plan

Expense related to the non-U.S. defined benefit plan was as follows:


	Fiscal Year Ended
		March 25, 2022		March 26, 2021		March 27, 2020
Service cost		$	1,554	$	1,454	$	961
Interest cost		637		628		674
Expected return on plan assets		(304)		(299)		(331)

Amortization of net transition asset		—		(1)		(14)
Amortization of prior service cost		1		8		8
Actuarial loss		205		179		96
Net periodic pension expense		$	2,093	$	1,969	$	1,394

Changes in Benefit Obligations and Plan Assets

Changes in the benefit obligations and plan assets for the non-U.S. defined benefit plan were as follows:


	Fiscal Year Ended
	March 25, 2022		March 26, 2021
Obligation and funded status of plan:
Benefit obligation at beginning of year	$	17,180	$	12,595
Service cost	1,554		1,454
Interest cost	637		628
Prior service cost	(108)		—
Benefits paid	(1,180)		(633)
Actuarial loss	(1,822)		2,502
Foreign currency exchange rate changes	(1,181)		634
Benefit obligation at end of year	$	15,080	$	17,180
Change in plan assets:
Fair value of plan assets at beginning of year	$	7,644	$	5,579
Actual return on plan assets	(235)		1,421
Employer contributions	1,380		981
Benefits paid	(1,146)		(595)
Foreign currency exchange rate changes	(546)		258
Fair value of plan assets at end of year	$	7,097	$	7,644
Underfunded status at end of year	$	(7,983)	$	(9,536)

Obligations and Asset Information for Plan with Projected Benefit Obligation in Excess of Plan Assets

The following table presents the obligations and asset information for the non-U.S. defined benefit plan that has a projected benefit obligation in excess of plan assets:


	Fiscal Year Ended
	March 25, 2022		March 26, 2021
Projected benefit obligations	$	15,080	$	17,180
Plan assets	7,097		7,644
Accumulated benefit obligations	9,216		10,353

Schedule of Amounts Recorded for AOCI for Defined Benefit Plan

The amounts recorded in AOCI for the non-U.S. defined benefit plan for the fiscal years ended March 25, 2022 and March 26, 2021 are further detailed below:


	Net Transition Obligation (Asset)		Net Actuarial Loss		Prior Service Costs		Total




Balance, March 27, 2020, net of tax	$	224	$	2,017	5		$	2,246
2021 change in AOCI for non-U.S. defined benefit plan	74		2,242		(4)		2,312
Amounts in AOCI before tax	298		4,259		1		4,558
Less tax expense	74		1,066		—		1,140
Balance, March 26, 2021, net of tax	224		3,193		1		3,418
2022 change in AOCI for non-U.S. defined benefit plan	20		(665)		(104)		(749)
Amounts in AOCI before tax	244		2,528		(103)		2,669
Less tax expense	61		632		(26)		667
Balance, March 25, 2022, net of tax	$	183	$	1,896	$	(77)	$	2,002

Schedule of Weighted-Average Assumptions

Weighted-Average Assumptions Used to Determine Projected Benefit Obligation


	March 25, 2022		March 26, 2021
Non-U.S. assumed discount rate	5.58	%	4.00	%
Non-U.S. rate of compensation increase	5.50	%	5.00	%

Weighted-Average Assumptions Used to Determine Net Periodic Benefit Cost


	March 25, 2022		March 26, 2021		March 27, 2020
Non-U.S. assumed discount rate	5.58	%	4.00	%	4.98	%
Non-U.S. expected long-term return on plan assets	4.10	%	4.20	%	5.20	%
Non-U.S. rate of compensation increase	5.50	%	5.00	%	5.00	%

Fair Value of Entity's Plan Assets


	Fair Value at March 25, 2022		Level 1		Level 2		Level 3
Assets of non-U.S. defined benefit plan:
Government securities	$	1,920	$	1,920	$	—	$	—
Unit investment trust fund	1,165		—		1,165		—
Loans	553		—		—		553
Bonds	676		—		676		—
Stocks and other investments	2,783		1,716		2		1,065
Total	$	7,097	$	3,636	$	1,843	$	1,618


	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 fiscal years ended March 25, 2022, March 26, 2021 and March 27, 2020:


	Level 3 Non-U.S. Defined Plan Assets
	Loans		Stocks
Balance at March 29, 2019	$	760	$	353
Additions during the year	271		—
Redemptions during the year	(300)		—
Change in foreign currency exchange rates	25		11
Balance at March 27, 2020	$	756	$	364
Additions during the year	325		—
Redemptions during the year	(531)		—
Revaluation of equity securities	—		753
Change in foreign currency exchange rates	34		16
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	(45)		(81)
Balance at March 25, 2022	$	553	$	1,065

Schedule of Estimated Future Benefit Payments


	Pension Benefits
2023	$	1,459
2024	953
2025	1,004
2026	1,014
2027	1,383
Thereafter	8,885
Total	$	14,698

Net Income per Share (Tables)

12 Months Ended

Mar. 25, 2022

Earnings Per Share [Abstract]

Schedule of Computation of Net Income per Share and Unaudited Pro Forma Net Income per Share


	Fiscal Year Ended
	March 25, 2022		March 26, 2021		March 27, 2020
Net income attributable to Allegro MicroSystems, Inc.	$	119,407	$	17,953	$	36,971
Net income attributable to common stockholders	119,555		18,101		37,105
Basic weighted average common shares	189,748,427		83,448,055		10,000,000
Dilutive effect of common stock equivalents	2,062,778		92,968,590		—
Diluted weighted average common shares	191,811,205		176,416,645		10,000,000
Basic net income attributable to Allegro MicroSystems, Inc. per share	$	0.63	$	0.22	$	3.70
Basic net income attributable to common stockholders per share	$	0.63	$	0.22	$	3.71
Diluted net income attributable to Allegro MicroSystems, Inc. per share	$	0.62	$	0.10	$	3.70
Diluted net income attributable to common stockholders per share	$	0.62	$	0.10	$	3.71

Schedule of Weighted Average Number of Shares

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


	Fiscal Year Ended
	March 25, 2022	March 26, 2021	March 27, 2020
Restricted stock units	1,066,406	308,811	—
Performance stock units	996,372	218,678	—
Employee stock purchase plan	—	2,914	—
Shares related to Common Stock Conversion	—	92,438,187	—
Total	2,062,778	92,968,590	—

Common Stock and Stock-Based Compensation (Tables)

12 Months Ended

Mar. 25, 2022

Share-based Payment Arrangement [Abstract]

Schedule of Stock Issued in Common Stock Conversion


	Shares of Common Stock	Shares of Unvested Restricted Common Stock	Total Shares of Common Stock
Class A common stock	156,155,403	—	156,155,403
Class L common stock	7,816,614	459,749	8,276,363
Total	163,972,017	459,749	164,431,766

Schedule of Restricted Stock Units Activity

The following table summarizes RSU activity for the fiscal years ended March 25, 2022 and March 26, 2021:


	Number of Shares	Weighted-Average Grant-Date Fair Value		Weighted-Average Remaining Contractual Life (In years)	Aggregate Intrinsic Value


Outstanding - March 27, 2020	—	$	—	—	$	—
Granted	1,428,932	14.06
Vested	(160,063)	14.00
Canceled	(43,713)	14.00
Outstanding - March 26, 2021	1,225,156	$	14.07	1.70	$	30,960
Granted	1,344,717	26.00
Vested	(622,508)	20.33
Canceled	(246,358)	19.02
Outstanding - March 25, 2022	1,701,007	$	20.50	1.27	$	49,635

Schedule of Performance Units Fair Value Assumptions

The weighted-average fair value of the PSUs was determined using the Monte Carlo simulation model incorporating the following weighted-average assumptions:


									Fiscal Year Ended
									March 26, 2021
Performance term									2.42 years
Volatility									49.9%
Risk-free rate of return									0.17%
Dividend yield									—%
Weighted-average fair value per share									$14.00

Summary of Performance Stock Units Activity

The following table summarizes PSU activity for the fiscal years ended March 25, 2022 and March 26, 2021:


	Number of Shares	Weighted-Average Grant-Date Fair Value		Weighted-Average Remaining Contractual Life (In years)	Aggregate Intrinsic Value


Outstanding - March 27, 2020	—	$	—	—	$	—
Granted	650,302	15.05
Vested	—	—
Canceled	—	—
Outstanding - March 26, 2021	650,302	$	15.05	2.65	$	16,433
Granted	465,732	27.08

Vested	—	—
Canceled	(160,951)	19.19
Outstanding - March 25, 2022	955,083	$	20.22	1.51	$	27,869

Summary of Unvested Restricted Common Stock Activity

The following table summarizes unvested restricted common stock activity for the fiscal years ended March 25, 2022 and March 26, 2021:


	Number of Shares	Weighted-Average Grant-Date Fair Value		Weighted-Average Remaining Contractual Life	Aggregate Intrinsic Value


Outstanding - March 27, 2020	—	—		—	—
Common stock conversion	459,749	14.00
Vested	(50,170)	14.00
Canceled	(3,252)	14.00
Outstanding - March 26, 2021	406,327	$	14.00	1.79	$	—
Vested	(241,787)	14.00
Canceled	(24,014)	—
Outstanding - March 25, 2022	140,526	$	14.00	1.07	$	4,101

Schedule of Stock-Based Compensation Expense

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


	Fiscal Year Ended
	March 25, 2022		March 26, 2021		March 27, 2020
Cost of sales	$	3,176	$	5,158	$	183
Research and development	3,933		3,573		87
Selling, general and administrative	26,439		41,139		1,165
Total stock-based compensation	$	33,548	$	49,870	$	1,435

Schedule of ESPP Fair Value Assumptions

The weighted-average fair value of the ESPP shares was determined using the Black-Scholes model incorporating the following weighted-average assumptions:


	Fiscal Year Ended
	March 25, 2022	March 26, 2021
Performance term	0.50 years	0.50 years
Volatility	48.10%	55.02%
Risk-free rate of return	0.10%	0.09%
Dividend yield	—%	—%
Weighted-average fair value per share	$8.25	$7.77

Income Taxes (Tables)

12 Months Ended

Mar. 25, 2022

Income Tax Disclosure [Abstract]

Schedule of Income before Income Tax, Domestic and Foreign

The components of income before income taxes include the following:


	Fiscal Year Ended
	March 25, 2022		March 26, 2021		March 27, 2020
Income before provision for income taxes attributable to:
Domestic operations	$	121,883	$	(2,288)	$	34,425
Foreign operations	18,863		837		18,853
Total	$	140,746	$	(1,451)	$	53,278

Schedule of Tax Provision

Significant components of the provision (benefit) for income taxes are as follows:


	Fiscal Year Ended
	March 25, 2022		March 26, 2021		March 27, 2020
Current:
Federal	$	7,779	$	(3,821)	$	15,146
State	1,553		1,085		1,468
Foreign	4,361		2,115		4,468
Total current	13,693		(621)		21,082
Deferred:
Federal	7,892		(17,564)		(4,431)
State	371		(1,016)		18
Foreign	(765)		(351)		(496)
Total deferred	7,498		(18,931)		(4,909)
Total income tax provision	$	21,191	$	(19,552)	$	16,173

Schedule of Income Taxes Reconciliation

The difference between the tax provision at the statutory federal tax rate and the provision for income taxes is as follows:


	Fiscal Year Ended
	March 25, 2022		March 26, 2021		March 27, 2020
Tax provision at U.S. statutory rate	$	29,557	$	(305)	$	11,189
162(m) limitation	3,988		—		—
Stock based compensation	(230)		(13,303)		—
CARES carryback claim and amended returns	(2,031)		(3,834)		—
PSL Divestiture	—		(2,009)		—
Research and development tax credit	(2,823)		(2,162)		(1,841)
FDII	(9,066)		—		(1,188)
BEAT	—		—		1,694
GILTI	—		—		86
Transaction costs	307		1,498		—
Foreign tax rate	(157)		1,279		283
State income taxes, net of federal benefit	2,370		356		514
Deferred tax remeasurement	—		309		—
Subpart F income, net of credits	283		43		—
Provision for uncertain tax positions	(17)		26		361
Provision for IRS audit settlement	—		—		5,491

Gain on contingent purchase price reduction	(420)		(525)		—
Cumulative provision-to-return	(590)		(862)		(186)
Other	20		(63)		(230)
Total income tax provision	$	21,191	$	(19,552)	$	16,173

Schedule of Deferred Tax Assets and Liabilities


	March 25, 2022		March 26, 2021
Deferred income tax assets:
Net operating loss	$	2,106	$	11,054
Bonuses, commissions and other compensation	11,137		9,304
Tax credits	6,454		8,698
Inventory and sales related	5,892		6,304
Stock-based compensation	2,837		821
Right-of-use liability	2,221		—

Other accruals and reserves	2,067		2,050
Gross deferred income tax assets	32,714		38,231
Valuation allowance for deferred income tax assets	(5,070)		(5,025)
Total deferred income tax assets	27,644		33,206
Deferred income tax liabilities:
Fixed assets and intangibles	(4,720)		(4,366)
Equity method and other investments	(2,801)		(1,868)
Right-of-use asset	(2,156)		—

Total deferred income tax liabilities	(9,677)		(6,234)
Net deferred income tax assets	$	17,967	$	26,972

Schedule of Unrecognized Tax Benefits Roll Forward


	Fiscal Year Ended
	March 25, 2022		March 26, 2021		March 27, 2020
Beginning balance	$	2,554	$	2,559	$	6,264
Gross increases-tax positions in prior period	—		55		4,863
Gross decreases-tax positions in prior period settlement	—		—		(8,513)
Lapse in statute of limitations	(95)		(60)		(55)
Balance at end of period	$	2,459	$	2,554	$	2,559

Nature of the Business and Basis of Presentation - Additional Information (Details)					1 Months Ended	3 Months Ended	12 Months Ended
	Feb. 02, 2021 USD ($) shares	Nov. 02, 2020 USD ($) $ / shares shares	Oct. 14, 2020 USD ($)	Mar. 28, 2020 USD ($)	Oct. 31, 2017	Mar. 27, 2020 USD ($)	Mar. 25, 2022 USD ($) location continent	Mar. 26, 2021 USD ($)	Mar. 27, 2020 USD ($)
Noncash or Part Noncash Divestitures [Line Items]
Percentage of ownership interest sold					0.288
Number of locations \| location							16
Number of continents on which entity operates \| continent							4
Estimated offering costs							$ 1,790,000
Related party note receivable, less current portion							5,625,000	$ 0
Equity investment in related party							27,671,000	26,664,000
Income in earnings of equity investment							1,007,000	1,413,000	$ 0
Adjustments to additional paid in capital, capitalization changes								19,165,000
IPO
Noncash or Part Noncash Divestitures [Line Items]
Number of shares issued in transaction (in shares) \| shares	0	28,750,000
Offering price (in dollars per share) \| $ / shares		$ 14.00
Net proceeds	$ 0	$ 321,425,000
Underwriting discounts		20,125,000
Estimated offering costs		$ 8,450,000
IPO - Selling Shareholders
Noncash or Part Noncash Divestitures [Line Items]
Number of shares issued in transaction (in shares) \| shares	19,332,852	3,750,000
COVID-19
Noncash or Part Noncash Divestitures [Line Items]
Proceeds from unsecured credit facilities						$ 43,000,000
Estimated cash benefit, CARES Act, qualified improvement property							12,800,000
Allegro Microsystems, Inc. \| IPO
Noncash or Part Noncash Divestitures [Line Items]
Number of shares issued in transaction (in shares) \| shares		25,000,000
Disposal Group, Disposed of by Sale, Not Discontinued Operations \| PSL
Noncash or Part Noncash Divestitures [Line Items]
Noncash or part noncash divestiture, amount of consideration received				$ 42,700,000
Noncash or part noncash divestiture, amount of consideration transferred				$ 15,000,000
Equity method investment, ownership percentage				30.00%
Equity investment in related party				$ 25,250,000
Adjustments to additional paid in capital, capitalization changes								19,165,000
Adjustments to additional paid in capital, income tax benefit from noncash or part noncash divestiture								$ 1,552,000
Disposal Group, Disposed of by Sale, Not Discontinued Operations \| PSL \| Sanken
Noncash or Part Noncash Divestitures [Line Items]
Ownership percentage by majority shareholder				70.00%
Disposal Group, Disposed of by Sale, Not Discontinued Operations \| PSL \| PSL
Noncash or Part Noncash Divestitures [Line Items]
Related party debt				$ 66,377,000
Related party note receivable, less current portion				$ 51,377,000
Repayments of related party notes receivable			$ 51,377,000
Interest payable			762,000				$ 762,000
Interest paid			$ 762,000

Summary of Significant Accounting Policies - Business Segment Information (Details)	12 Months Ended
	Mar. 25, 2022 segment
Accounting Policies [Abstract]
Number of operating segments	1

Summary of Significant Accounting Policies - Non-controlling Interest (Details) - Affiliated Entity in Philippines	Mar. 25, 2022
Noncontrolling Interest [Line Items]
Ownership percentage by majority shareholder	40.00%
Noncontrolling interest ownership percentage	60.00%

Summary of Significant Accounting Policies - Property, Plant and Equipment (Details)	12 Months Ended
	Mar. 25, 2022
Buildings
Property, Plant and Equipment [Line Items]
Useful Life	31 years
Machinery and equipment \| Minimum
Property, Plant and Equipment [Line Items]
Useful Life	3 years
Machinery and equipment \| Maximum
Property, Plant and Equipment [Line Items]
Useful Life	10 years
Office equipment
Property, Plant and Equipment [Line Items]
Useful Life	3 years

Summary of Significant Accounting Policies - Intangible assets, net (Details)	12 Months Ended
	Mar. 25, 2022
Minimum
Finite-Lived Intangible Assets [Line Items]
Estimated useful life	3 years
Maximum
Finite-Lived Intangible Assets [Line Items]
Estimated useful life	10 years

Summary of Significant Accounting Policies - Impairment of Long-Lived Assets (Details) - USD ($) $ in Thousands	12 Months Ended
	Mar. 25, 2022	Mar. 26, 2021	Mar. 27, 2020	Mar. 03, 2021
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Impairment of long-lived assets	$ 0	$ 7,119	$ 0
Held-for-sale \| AMTC Facility
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Purchase price				$ 30,000
Impairment of long-lived assets		$ 7,119

Summary of Significant Accounting Policies - Goodwill (Details)	12 Months Ended
	Mar. 25, 2022 reportingUnit
Accounting Policies [Abstract]
Number of reporting units	1

Summary of Significant Accounting Policies - Contract Assets and Contract Liabilities (Details) - USD ($)	Mar. 25, 2022	Mar. 26, 2021
Accounting Policies [Abstract]
Contract assets	$ 0	$ 0
Contract liabilities	$ 0	$ 0

Summary of Significant Accounting Policies - Advertising Costs (Details) - USD ($) $ in Thousands	12 Months Ended
	Mar. 25, 2022	Mar. 26, 2021	Mar. 27, 2020
Accounting Policies [Abstract]
Advertising expense	$ 452	$ 331	$ 273

Summary of Significant Accounting Policies - Concentrations of Credit Risk and Significant Customers (Details)	12 Months Ended
	Mar. 25, 2022	Mar. 26, 2021	Mar. 27, 2020
Trade Accounts Receivable \| Customer Concentration Risk \| Sanken
Concentration Risk [Line Items]
Concentration risk, percentage	23.80%	23.20%
Revenue Benchmark \| Customer Concentration Risk \| Sanken
Concentration Risk [Line Items]
Concentration risk, percentage	19.40%	17.70%	28.40%
Revenue Benchmark \| Geographic Concentration Risk \| Non-US
Concentration Risk [Line Items]
Concentration risk, percentage	85.90%	86.10%	81.70%
Revenue Benchmark \| Geographic Concentration Risk \| Japan
Concentration Risk [Line Items]
Concentration risk, percentage	19.40%	17.70%	28.40%
Revenue Benchmark \| Geographic Concentration Risk \| Greater China
Concentration Risk [Line Items]
Concentration risk, percentage	25.00%	26.60%	18.70%
Revenue Benchmark \| Geographic Concentration Risk \| South Korea
Concentration Risk [Line Items]
Concentration risk, percentage	10.50%	10.50%

Summary of Significant Accounting Policies - Recently Issued Accounting Standards Not Yet Adopted (Details) - USD ($) $ in Thousands	Mar. 25, 2022	Mar. 27, 2021	Mar. 26, 2021
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Operating lease right-of-use assets	$ 16,049		$ 0
Operating lease, liability	$ 16,454
Accounting Standards Update 2016-02
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Operating lease right-of-use assets		$ 18,403
Operating lease, liability		$ 18,759

Revenue from Contract with Customers - Net Sales by Core End Market and Application (Details) - USD ($) $ in Thousands	12 Months Ended
	Mar. 25, 2022	Mar. 26, 2021	Mar. 27, 2020
Disaggregation of Revenue [Line Items]
Total net sales	$ 768,674	$ 591,207	$ 650,089
Automotive
Disaggregation of Revenue [Line Items]
Total net sales	531,564	398,298	395,277
Industrial
Disaggregation of Revenue [Line Items]
Total net sales	133,187	94,872	78,399
Other
Disaggregation of Revenue [Line Items]
Total net sales	103,923	98,037	68,622
Wafer foundry products
Disaggregation of Revenue [Line Items]
Total net sales	0	0	72,370
Distribution of Sanken products
Disaggregation of Revenue [Line Items]
Total net sales	$ 0	$ 0	$ 35,421

- 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	12 Months Ended
	Mar. 25, 2022	Mar. 26, 2021	Mar. 27, 2020
Disaggregation of Revenue [Line Items]
Total net sales	$ 768,674	$ 591,207	$ 650,089
Power integrated circuits (“PIC”)
Disaggregation of Revenue [Line Items]
Total net sales	268,381	203,600	165,911
Magnetic sensors (“MS”)
Disaggregation of Revenue [Line Items]
Total net sales	498,561	386,372	376,387
Photonics
Disaggregation of Revenue [Line Items]
Total net sales	1,732	1,235	0
Wafer foundry products
Disaggregation of Revenue [Line Items]
Total net sales	0	0	72,370
Distribution of Sanken products
Disaggregation of Revenue [Line Items]
Total net sales	$ 0	$ 0	$ 35,421

- Definition

+ References

+ Details

Revenue from Contract with Customers - Net Sales by Geography (Details) - USD ($) $ in Thousands	12 Months Ended
	Mar. 25, 2022	Mar. 26, 2021	Mar. 27, 2020
Disaggregation of Revenue [Line Items]
Total net sales	$ 768,674	$ 591,207	$ 650,089
United States
Disaggregation of Revenue [Line Items]
Total net sales	108,396	82,165	119,139
Other Americas
Disaggregation of Revenue [Line Items]
Total net sales	23,056	16,558	20,883
Europe
Disaggregation of Revenue [Line Items]
Total net sales	134,537	103,128	110,126
Japan
Disaggregation of Revenue [Line Items]
Total net sales	148,813	104,661	184,557
Greater China
Disaggregation of Revenue [Line Items]
Total net sales	191,895	157,546	121,807
South Korea
Disaggregation of Revenue [Line Items]
Total net sales	80,451	62,075	54,707
Other Asia
Disaggregation of Revenue [Line Items]
Total net sales	$ 81,526	$ 65,074	$ 38,870

- Definition

+ References

+ Details

Revenue from Contract with Customers - Additional Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Mar. 25, 2022	Mar. 26, 2021	Mar. 27, 2020
Revenue from Contract with Customer [Abstract]
Trade accounts receivable, returns, credits issued, and price protection adjustments, current	$ 14,924	$ 15,412
Trade accounts receivable, returns, credits issued, and price protection adjustments expense (credit)	$ (488)	$ (2,061)	$ 423

Fair Value Measurements - Assets And Liabilities Measured At Fair Value (Details) - USD ($) $ in Thousands	Mar. 25, 2022	Mar. 26, 2021
Liabilities:
Contingent consideration	$ 2,800	$ 4,800
Fair Value, Recurring
Assets:
Total assets	36,689	22,988
Liabilities:
Contingent consideration	2,800	4,800
Total liabilities	2,800	4,800
Level 1 \| Fair Value, Recurring
Assets:
Total assets	36,689	22,988
Liabilities:
Contingent consideration	0	0
Total liabilities	0	0
Level 2 \| Fair Value, Recurring
Assets:
Total assets	0	0
Liabilities:
Contingent consideration	0	0
Total liabilities	0	0
Level 3 \| Fair Value, Recurring
Assets:
Total assets	0	0
Liabilities:
Contingent consideration	2,800	4,800
Total liabilities	2,800	4,800
Money Market Funds \| Fair Value, Recurring
Assets:
Cash equivalents	16,927	16,327
Restricted cash	7,416	6,661
Investments in marketable securities	12,346
Money Market Funds \| Level 1 \| Fair Value, Recurring
Assets:
Cash equivalents	16,927	16,327
Restricted cash	7,416	6,661
Investments in marketable securities	12,346
Money Market Funds \| Level 2 \| Fair Value, Recurring
Assets:
Cash equivalents	0	0
Restricted cash	0	0
Investments in marketable securities	0
Money Market Funds \| Level 3 \| Fair Value, Recurring
Assets:
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	12 Months Ended
	Mar. 25, 2022 USD ($)
Fair Value Disclosures [Abstract]
Net gains and losses recognized during the period on equity securities	$ 3,722
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	$ 3,722

Fair Value Measurements - Change in Fair Value of Level 3 Contingent Consideration (Details) - Fair Value, Recurring - USD ($) $ in Thousands	12 Months Ended
	Mar. 25, 2022	Mar. 26, 2021
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	$ 4,800	$ 0
Purchase price contingent consideration		7,300
Change in fair value of contingent consideration	(2,000)	(2,500)
Ending balance	$ 2,800	$ 4,800

Fair Value Measurements - Additional Information (Details) - USD ($) $ in Thousands		12 Months Ended
	Aug. 28, 2020	Mar. 25, 2022
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Unrealized foreign currency exchange losses on equity securities		$ (565)
Voxtel
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Line Items]
Potential payout	$ 15,000
Fair value of earn-outs	$ 7,300

Trade Accounts Receivable, net - Summary of Trade Accounts Receivable, net (Details) - USD ($) $ in Thousands	Mar. 25, 2022	Mar. 26, 2021	Mar. 27, 2020	Mar. 29, 2019
Receivables [Abstract]
Trade accounts receivable	$ 129,539	$ 108,546
Less:
Provision for expected credit losses and allowance for doubtful accounts	(105)	(138)	$ (288)	$ (412)
Returns and sales allowances	(14,819)	(15,274)	$ (17,185)	$ (17,607)
Related party trade accounts receivable	(27,256)	(23,634)
Trade accounts receivable, net	$ 87,359	$ 69,500

- Definition

The aggregate amount of receivables to be collected from related parties where one party can exercise control or significant influence over another party; including affiliates, owners or officers and their immediate families, pension trusts, and so forth, at the financial statement date. which are usually due within one year (or one business cycle).

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iii)(C))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442552-122756

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iv))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442552-122756

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(iv))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442526-122756

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(5))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442552-122756

Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(11))
-URI http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(iii)(B))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442526-122756

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 850
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (d)
-URI http://asc.fasb.org/extlink&oid=6457730&loc=d3e39549-107864

Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(3)(a)(2))
-URI http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(5))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442526-122756

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section 45
-Paragraph 1
-Subparagraph (d)
-URI http://asc.fasb.org/extlink&oid=124098289&loc=d3e6676-107765

Reference 11: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(k)(1))
-URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

+ Details

Trade Accounts Receivable, net - Schedule of Changes in Allowance For Doubtful Accounts and Sales Returns and Sales Allowances (Details) - USD ($) $ in Thousands	12 Months Ended
	Mar. 25, 2022	Mar. 26, 2021	Mar. 27, 2020
Allowance for Doubtful Accounts
Balance at the beginning of the period	$ 138	$ 288	$ 412
Charged to costs and expenses or revenue	(33)	(150)	262
Write-offs, net of recoveries	0	0	(386)
Balance at the end of the period	105	138	288
Returns and Sales Allowances
Balance at the beginning of the period	15,274	17,185	17,607
Charged to costs and expenses or revenue	144,318	147,026	118,719
Write-offs, net of recoveries	(144,773)	(148,937)	(119,141)
Balance at the end of the period	14,819	15,274	17,185
Total
Balance at the beginning of the period	15,412	17,473	18,019
Charged to costs and expenses or revenue	144,285	146,876	118,981
Write-offs, net of recoveries	(144,773)	(148,937)	(119,527)
Balance at the end of the period	$ 14,924	$ 15,412	$ 17,473

Inventories - Schedule Of Inventory (Details) - USD ($) $ in Thousands	Mar. 25, 2022	Mar. 26, 2021
Inventory Disclosure [Abstract]
Raw materials and supplies	$ 11,941	$ 9,629
Work in process	55,855	50,095
Finished goods	18,364	27,774
Total	$ 86,160	$ 87,498

Inventories - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
Inventories - Narrative (Details) - USD ($) $ in Thousands	Mar. 25, 2022	Mar. 26, 2021	Mar. 27, 2020
Inventory [Line Items]
Write-downs	$ 5,809	$ 4,464	$ 3,345
Voxtel Product Line \| Disposal Group, Not Discontinued Operations
Inventory [Line Items]
Recorded inventory provisions	$ 3,106

Assets Held for Sale (Details) - Held-for-sale - AMTC Facility - USD ($) $ in Thousands		12 Months Ended
	Aug. 03, 2021	Mar. 25, 2022
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 PPE (Details) - USD ($) $ in Thousands	Mar. 25, 2022	Mar. 26, 2021
Property, Plant and Equipment [Line Items]
Total	$ 647,011	$ 600,020
Less accumulated depreciation	(436,983)	(407,627)
Total	210,028	192,393
Land
Property, Plant and Equipment [Line Items]
Total	15,775	16,602
Buildings, building improvements and leasehold improvements
Property, Plant and Equipment [Line Items]
Total	59,816	56,911
Machinery and equipment
Property, Plant and Equipment [Line Items]
Total	542,745	491,025
Office equipment
Property, Plant and Equipment [Line Items]
Total	6,247	6,281
Construction in progress
Property, Plant and Equipment [Line Items]
Total	$ 22,428	$ 29,201

Property, Plant and Equipment, net - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
	Mar. 25, 2022	Mar. 26, 2021	Mar. 27, 2020
Property, Plant and Equipment [Abstract]
Fully depreciated assets retired during period	$ 10,976	$ 63	$ 9,418
Depreciation expense	44,178	44,845	62,118
Prepaid tooling costs
Property, Plant and Equipment [Line Items]
Amortization expense	$ 130	$ 130	$ 125

Property, Plant and Equipment, net - Schedule of Long Lived Assets (Details) - USD ($) $ in Thousands	Mar. 25, 2022	Mar. 26, 2021
Revenues from External Customers and Long-Lived Assets [Line Items]
Total	$ 210,455	$ 193,791
United States
Revenues from External Customers and Long-Lived Assets [Line Items]
Total	35,221	36,529
Philippines
Revenues from External Customers and Long-Lived Assets [Line Items]
Total	167,488	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	$ 7,746	$ 7,190

Goodwill and Intangible Assets - Summary of Changes in Carrying Amount of Goodwill (Details) - USD ($) $ in Thousands	12 Months Ended
	Mar. 25, 2022	Mar. 26, 2021
Goodwill [Roll Forward]
Balance at beginning of period	$ 20,106	$ 1,285
Goodwill arising from acquisition		18,702
Currency translation	(97)	119
Balance at end of period	$ 20,009	$ 20,106

Goodwill and Intangible Assets - Schedule of Intangible Assets, Net (Details) - USD ($) $ in Thousands	12 Months Ended
	Mar. 25, 2022	Mar. 26, 2021
Finite-Lived Intangible Assets [Line Items]
Gross	$ 61,168	$ 56,953
Accumulated Amortization	25,198	20,587
Net Carrying Amount	35,970	36,366
Patents
Finite-Lived Intangible Assets [Line Items]
Gross	36,577	32,751
Accumulated Amortization	15,304	12,307
Net Carrying Amount	$ 21,273	$ 20,444
Weighted-Average Lives	10 years	10 years
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Gross	$ 6,582	$ 6,193
Accumulated Amortization	6,348	5,865
Net Carrying Amount	$ 234	$ 328
Weighted-Average Lives	9 years	9 years
Process technology
Finite-Lived Intangible Assets [Line Items]
Gross	$ 13,100	$ 13,100
Accumulated Amortization	1,742	651
Net Carrying Amount	$ 11,358	$ 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	64	24
Net Carrying Amount	$ 136	$ 176
Weighted-Average Lives	5 years	5 years
Trademarks
Finite-Lived Intangible Assets [Line Items]
Gross	$ 627	$ 627
Accumulated Amortization	58	58
Net Carrying Amount	569	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		12 Months Ended
	Aug. 28, 2020	Mar. 25, 2022	Mar. 26, 2021	Mar. 27, 2020
Acquired Finite-Lived Intangible Assets [Line Items]
Goodwill		$ 20,009	$ 20,106	$ 1,285
Intangible assets amortization expense		$ 4,219	$ 3,332	$ 1,805
Patents
Acquired Finite-Lived Intangible Assets [Line Items]
Estimated useful life		10 years	10 years
Voxtel
Acquired Finite-Lived Intangible Assets [Line Items]
Preliminary purchase price	$ 34,980
Goodwill	18,702
Finite-lived intangible assets	13,600
Indefinite-lived intangible assets acquired	$ 2,400

Goodwill and Intangible Assets - Future Amortization Expense (Details) - USD ($) $ in Thousands	Mar. 25, 2022	Mar. 26, 2021
Finite-Lived Intangible Assets, Net, Amortization Expense, Fiscal Year Maturity [Abstract]
2023	$ 3,741
2024	3,593
2025	3,356
2026	3,115
2027	2,807
Thereafter	19,358
Net Carrying Amount	$ 35,970	$ 36,366

Other Assets, net (Details) - USD ($) $ in Thousands	Mar. 25, 2022	Mar. 26, 2021
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
VAT receivables long-term, net	$ 6,386	$ 8,177
Income taxes receivable long-term	15,763	0
Investments in marketable securities	12,346	0
Deposits	10,525	3,573
Prepaid contracts long-term	1,236	1,295
Deferred financing costs	49	149
Other	1,304	1,419
Total	$ 47,609	$ 14,613

Accrued Expenses and Other Current Liabilities (Details) - USD ($) $ in Thousands	Mar. 25, 2022	Mar. 26, 2021
Payables and Accruals [Abstract]
Accrued management incentives	$ 33,607	$ 21,538
Accrued salaries and wages	14,699	15,060
Base acquisition purchase price due	0	14,588
Deposits on AMTC facility	0	14,531
Accrued vacation	5,715	5,739
Accrued severance	839	572
Accrued professional fees	1,252	2,029
Accrued income taxes	1,831	514
Accrued utilities	607	623
Other current liabilities	6,909	3,738
Total	$ 65,459	$ 78,932

Management Long-Term Incentive Plan (Details) - USD ($) $ / shares in Units, $ in Thousands		12 Months Ended
	Nov. 02, 2020	Mar. 25, 2022	Mar. 26, 2021	Mar. 27, 2020
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items]
Stock-based compensation		$ 33,548	$ 49,870	$ 1,435
Restricted Stock Units (RSUs)
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items]
Stock-based compensation	$ 1,028	$ 19,918	$ 5,729
Grants in period (in shares)		1,344,717	1,428,932
Grant date fair value (in dollars per share)		$ 26.00	$ 14.06
RSU Conversion Program \| Restricted Stock Units (RSUs)
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items]
Grant date fair value (in dollars per share)	$ 14.00
TRIP \| RSU Conversion Program
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items]
Stock-based compensation	$ 421
TRIP \| RSU Conversion Program \| Restricted Stock Units (RSUs)
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items]
Grants in period (in shares)	348,911
LTIP
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items]
Rolling performance period		3 years
Current Liabilities
Balance at the beginning of the period		$ 58	$ 11,488	17,115
Reclassification			1,004	9,707
Payments		(58)	(11,267)	(17,836)
RSU conversion			(640)
Removal due to divestiture			(378)
Accruals		0	(149)	2,502
Balance at the end of the period		0	58	11,488
Long-Term Liabilities
Balance at the beginning of the period		258	2,439	11,104
Reclassification			(1,004)	(9,706)
Payments		0	(111)	0
RSU conversion			0
Removal due to divestiture			(398)
Accruals		259	(668)	1,041
Balance at the end of the period		$ 517	$ 258	$ 2,439
LTIP \| RSU Conversion Program
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items]
Stock-based compensation	$ 607
LTIP \| RSU Conversion Program \| Restricted Stock Units (RSUs)
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items]
Grants in period (in shares)	602,490

Leases - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
Leases - Narrative (Details) - USD ($) $ in Thousands	Mar. 25, 2022	Mar. 26, 2021	Mar. 27, 2020
Lessee, Lease, Description [Line Items]
Rent expense	$ 5,720	$ 4,385	$ 5,456
Minimum
Lessee, Lease, Description [Line Items]
Operating lease agreement term	1 year
Maximum
Lessee, Lease, Description [Line Items]
Operating lease agreement term	10 years

Leases - Schedule of Lease Costs and Other Information (Details) $ in Thousands	12 Months Ended
	Mar. 25, 2022 USD ($)
Lease costs:
Operating lease expense	$ 4,648
Short term lease expense	584
Other information:
Operating cash flows from operating leases	5,289
Noncash lease liabilities arising from obtaining right-of-use assets	$ 3,159
Weighted-average remaining lease term – operating leases	5 years 2 months 1 day
Weighted-average discount rate – operating leases	4.50%

Leases - Schedule of Lease Liability Maturity (Details) $ in Thousands	Mar. 25, 2022 USD ($)
Leases [Abstract]
2023	$ 4,335
2024	3,956
2025	3,300
2026	2,592
2027	1,788
Thereafter	2,602
Total undiscounted lease payments	18,573
Less: present value adjustment	(2,119)
Total operating lease liabilities	$ 16,454

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 - Summary of Components of Debt (Details) - USD ($) $ in Thousands	Mar. 25, 2022	Mar. 26, 2021
Line of Credit Facility [Line Items]
Total Debt	$ 25,000	$ 25,000
Less debt payable within one year	0	0
Debt payable after one year	25,000	25,000
Line of Credit \| Senior Secured Term Loan
Line of Credit Facility [Line Items]
Total Debt	25,000	25,000
Line of Credit \| Unsecured Revolving Credit Facilities
Line of Credit Facility [Line Items]
Total Debt	$ 0	$ 0

- Definition

Amount, after unamortized (discount) premium and debt issuance costs, of long-term debt. Includes, but not limited to, notes payable, bonds payable, debentures, mortgage loans and commercial paper. Excludes capital lease obligations.

+ References + Details

Debt and Other Borrowings - Additional Information (Details) - USD ($) $ in Thousands	Mar. 25, 2022	Mar. 26, 2021
Debt Disclosure [Abstract]
Debt payable in 2028	$ 25,000	$ 25,000

Debt and Other Borrowings - Senior Secured Credit Facilities (Details)					12 Months Ended
	Nov. 25, 2020 USD ($)	Sep. 30, 2020 USD ($)	Jan. 22, 2019 USD ($)	Mar. 27, 2006 USD ($)	Mar. 25, 2022 USD ($)	Mar. 26, 2021 USD ($)	Mar. 27, 2020 USD ($)	Sep. 16, 2020	Nov. 26, 2019 PHP (₱)	Nov. 20, 2019 PHP (₱)	Dec. 05, 2001 USD ($)
Line of Credit Facility [Line Items]
Repayment of senior secured debt					$ 0	$ 300,000,000	$ 0
Loss on debt extinguishment					$ 0	9,055,000	0
Senior Secured Term Loan \| Credit Suisse AG, Cayman Islands Branch
Line of Credit Facility [Line Items]
Maximum borrowing capacity		$ 325,000,000
Repayment of senior secured debt	$ 300,000,000
Deferred financing costs		9,374,000
Loss on debt extinguishment						9,055,000
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
Deferred financing costs		$ 300,000
Unamortized deferred financing costs					149,000	249,000
Senior Secured Revolving Credit Facility \| Mizuho Bank, Ltd \| LIBOR
Line of Credit Facility [Line Items]
Interest rate floor		0.005
Senior Secured Revolving Credit Facility \| Mizuho Bank, Ltd \| LIBOR \| Minimum
Line of Credit Facility [Line Items]
Basis spread on variable rate		3.75%
Senior Secured Revolving Credit Facility \| Mizuho Bank, Ltd \| LIBOR \| Maximum
Line of Credit Facility [Line Items]
Basis spread on variable rate		4.00%
Line of Credit \| Mizuho Bank, Ltd
Line of Credit Facility [Line Items]
Repayment of senior secured debt		$ 25,000,000
Line of Credit \| Bank Of Mitsubishi UFJ
Line of Credit Facility [Line Items]
Repayment of senior secured debt		$ 8,000,000
Unsecured Revolving Credit Facilities \| Line-of-Credit Agreement Expiring January 22, 2021 \| Line of Credit
Line of Credit Facility [Line Items]
Maximum borrowing capacity			$ 25,000
Outstanding balance						25,000,000	$ 25,000,000
Unsecured Revolving Credit Facilities \| Line-of-Credit Agreement Due at Various Times During Fiscal Year 2021 \| Line of Credit
Line of Credit Facility [Line Items]
Maximum borrowing capacity				$ 10,000
Interest rate at period end							1.70%	2.50%
Outstanding balance							$ 10,000,000
Unsecured Revolving Credit Facilities \| Line-of-Credit Agreement Maturing June 18, 2020 \| Line of Credit
Line of Credit Facility [Line Items]
Maximum borrowing capacity											$ 8,000,000
Interest rate at period end							1.90%
Outstanding balance							$ 8,000,000
Unsecured Revolving Credit Facilities \| Line-of-Credit Agreement Expiring August 31, 2021 \| Line of Credit
Line of Credit Facility [Line Items]
Maximum borrowing capacity					1,145,000				₱ 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					1,431,000					₱ 75,000,000
Outstanding balance					$ 0	$ 0
Unsecured Revolving Credit Facilities \| LIBOR \| Line-of-Credit Agreement Expiring January 22, 2021 \| Line of Credit
Line of Credit Facility [Line Items]
Basis spread on variable rate			0.40%
Unsecured Revolving Credit Facilities \| LIBOR \| Line-of-Credit Agreement Due at Various Times During Fiscal Year 2021 \| Line of Credit
Line of Credit Facility [Line Items]
Basis spread on variable rate				1.00%

Debt and Other Borrowings - Unsecured Revolving Credit Facilities (Details)				12 Months Ended
	Mar. 18, 2020 USD ($)	Jan. 22, 2019 USD ($)	Mar. 27, 2006 USD ($)	Mar. 25, 2022 USD ($)	Mar. 27, 2020 USD ($)	Mar. 26, 2021 USD ($)	Sep. 16, 2020	Jun. 26, 2020 USD ($)	Nov. 26, 2019 PHP (₱)	Nov. 20, 2019 PHP (₱)	Dec. 05, 2001 USD ($)
Line of Credit Facility [Line Items]
Outstanding borrowings				$ 25,000,000		$ 25,000,000
Unsecured Revolving Credit Facilities \| Line-of-Credit Agreement Expiring January 22, 2021 \| Line of Credit
Line of Credit Facility [Line Items]
Maximum borrowing capacity		$ 25,000
Outstanding balance					$ 25,000,000	25,000,000
Outstanding borrowings								$ 25,000,000
Collateral, secured period				1 year
Collateral fees, amount				$ 25,000
Unsecured Revolving Credit Facilities \| Line-of-Credit Agreement Expiring January 22, 2021 \| Line of Credit \| LIBOR
Line of Credit Facility [Line Items]
Basis spread on variable rate		0.40%
Unsecured Revolving Credit Facilities \| Line-of-Credit Agreement Due at Various Times During Fiscal Year 2021 \| Line of Credit
Line of Credit Facility [Line Items]
Maximum borrowing capacity			$ 10,000
Outstanding balance					$ 10,000,000
Interest rate at period end					1.70%		2.50%
Proceeds from unsecured credit facilities					$ 10,000,000
Unsecured Revolving Credit Facilities \| Line-of-Credit Agreement Due at Various Times During Fiscal Year 2021 \| Line of Credit \| LIBOR
Line of Credit Facility [Line Items]
Basis spread on variable rate			1.00%
Unsecured Revolving Credit Facilities \| Line-of-Credit Agreement Maturing June 18, 2020 \| Line of Credit
Line of Credit Facility [Line Items]
Maximum borrowing capacity											$ 8,000,000
Outstanding balance					$ 8,000,000
Interest rate at period end					1.90%
Proceeds from unsecured credit facilities	$ 8,000,000
Unsecured Revolving Credit Facilities \| Line-of-Credit Agreement Expiring August 31, 2021 \| Line of Credit
Line of Credit Facility [Line Items]
Maximum borrowing capacity				1,145,000					₱ 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				1,431,000						₱ 75,000,000
Outstanding balance				$ 0		$ 0

Other Long-Term Liabilities (Details) - USD ($) $ in Thousands	Mar. 25, 2022	Mar. 26, 2021
Other Liabilities Disclosure [Abstract]
Accrued management incentives	$ 826	$ 628
Accrued retirement	8,903	10,656
Accrued contingent consideration	2,800	4,800
Provision for uncertain tax positions (net)	2,757	2,774
Other	0	275
Total	$ 15,286	$ 19,133

Retirement Plans - Schedule of Expense Related to Defined Benefit Plan (Details) - Pension Plan - USD ($) $ in Thousands	12 Months Ended
	Mar. 25, 2022	Mar. 26, 2021	Mar. 27, 2020
Defined Benefit Plan Disclosure [Line Items]
Service cost	$ 1,554	$ 1,454	$ 961
Interest cost	637	628	674
Expected return on plan assets	(304)	(299)	(331)
Amortization of net transition asset	0	(1)	(14)
Amortization of prior service cost	1	8	8
Actuarial loss	205	179	96
Net periodic pension expense	$ 2,093	$ 1,969	$ 1,394

Retirement Plans - Schedule of Changes in Benefit Obligations and Plan Assets (Details) - Pension Plan - USD ($) $ in Thousands	12 Months Ended
	Mar. 25, 2022	Mar. 26, 2021	Mar. 27, 2020
Obligation and funded status of plan:
Benefit obligation at beginning of year	$ 17,180	$ 12,595
Service cost	1,554	1,454	$ 961
Interest cost	637	628	674
Prior service cost	(108)	0
Benefits paid	(1,180)	(633)
Actuarial loss	(1,822)	2,502
Foreign currency exchange rate changes	(1,181)	634
Benefit obligation at end of year	15,080	17,180	12,595
Change in plan assets:
Fair value of plan assets at beginning of year	7,644	5,579
Actual return on plan assets	(235)	1,421
Employer contributions	1,380	981
Benefits paid	(1,146)	(595)
Foreign currency exchange rate changes	(546)	258
Fair value of plan assets at end of year	7,097	7,644	$ 5,579
Underfunded status at end of year	$ (7,983)	$ (9,536)

Retirement Plans - Obligations and Asset Information for Defined Benefit Plans with Projected Benefit Obligation in Excess of Plan Assets (Details) - Pension Plan - USD ($) $ in Thousands	Mar. 25, 2022	Mar. 26, 2021
Defined Benefit Plan Disclosure [Line Items]
Projected benefit obligations	$ 15,080	$ 17,180
Plan assets	7,097	7,644
Accumulated benefit obligations	$ 9,216	$ 10,353

Retirement Plans - Change in Amounts Recognized in AOCI (Details) - USD ($) $ in Thousands	12 Months Ended
	Mar. 25, 2022	Mar. 26, 2021	Mar. 27, 2020
Total
Less tax expense	$ (472)	$ 391	$ 233
Pension Plan
Net Transition Obligation (Asset)
Beginning balance	224	224
Change in AOCI for non-U.S. defined benefit plan	20	74
Amounts in AOCI before tax	244	298
Less tax expense	61	74
Ending balance	183	224	224
Net Actuarial Loss
Beginning balance	3,193	2,017
Change in ACOI for non-U.S. defined benefit plan	(665)	2,242
Amounts in AOCI before tax	2,528	4,259
Less tax expense	632	1,066
Ending balance	1,896	3,193	2,017
Prior Service Costs
Beginning balance	1	5
Change in AOCI for non-U.S. defined benefit plan	(104)	(4)
Amounts in AOCI before tax	(103)	1
Less tax expense	(26)	0
Ending balance	(77)	1	5
Total
Beginning balance	3,418	2,246
Change in AOCI for non-U.S. defined benefit plan	(749)	2,312
Amounts in AOCI before tax	2,669	4,558
Less tax expense	667	1,140
Ending balance	$ 2,002	$ 3,418	$ 2,246

Retirement Plans - Schedule of Weighted-Average Assumptions (Details) - Pension Plan	12 Months Ended
	Mar. 25, 2022	Mar. 26, 2021	Mar. 27, 2020
Defined Benefit Plan Disclosure [Line Items]
Non-U.S. assumed discount rate	5.58%	4.00%
Non-U.S. rate of compensation increase	5.50%	5.00%
Non-U.S. assumed discount rate	5.58%	4.00%	4.98%
Non-U.S. expected long-term return on plan assets	4.10%	4.20%	5.20%
Non-U.S. rate of compensation increase	5.50%	5.00%	5.00%

Retirement Plans - Fair Value of Entity's Plan Assets (Details) - Pension Plan - USD ($) $ in Thousands	Mar. 25, 2022	Mar. 26, 2021	Mar. 27, 2020
Defined Benefit Plan Disclosure [Line Items]
Assets of non-U.S. defined benefit plan	$ 7,097	$ 7,644	$ 5,579
Level 1
Defined Benefit Plan Disclosure [Line Items]
Assets of non-U.S. defined benefit plan	3,636	3,593
Level 2
Defined Benefit Plan Disclosure [Line Items]
Assets of non-U.S. defined benefit plan	1,843	2,334
Level 3
Defined Benefit Plan Disclosure [Line Items]
Assets of non-U.S. defined benefit plan	1,618	1,717
Government securities
Defined Benefit Plan Disclosure [Line Items]
Assets of non-U.S. defined benefit plan	1,920	1,646
Government securities \| Level 1
Defined Benefit Plan Disclosure [Line Items]
Assets of non-U.S. defined benefit plan	1,920	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	1,165	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	1,165	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	553	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	553	584
Bonds
Defined Benefit Plan Disclosure [Line Items]
Assets of non-U.S. defined benefit plan	676	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	676	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	2,783	3,081
Stocks and other investments \| Level 1
Defined Benefit Plan Disclosure [Line Items]
Assets of non-U.S. defined benefit plan	1,716	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	$ 1,065	$ 1,133

Retirement Plans - Schedule of Changes in Fair Value of Level 3 Plan Assets (Details) - Pension Plan - USD ($) $ in Thousands	12 Months Ended
	Mar. 25, 2022	Mar. 26, 2021	Mar. 27, 2020
Defined Benefit Plan, Change in Fair Value of Plan Assets, Level 3 Reconciliation [Roll Forward]
Fair value of plan assets at beginning of year	$ 7,644	$ 5,579
Change in foreign currency exchange rates	(546)	258
Fair value of plan assets at end of year	7,097	7,644	$ 5,579
Level 3
Defined Benefit Plan, Change in Fair Value of Plan Assets, Level 3 Reconciliation [Roll Forward]
Fair value of plan assets at beginning of year	1,717
Fair value of plan assets at end of year	1,618	1,717
Loans \| Level 3
Defined Benefit Plan, Change in Fair Value of Plan Assets, Level 3 Reconciliation [Roll Forward]
Fair value of plan assets at beginning of year	584	756	760
Additions during the year	308	325	271
Redemptions during the year	(289)	(531)	(300)
Revaluation of equity securities	(5)	0
Change in foreign currency exchange rates	(45)	34	25
Fair value of plan assets at end of year	553	584	756
Stocks \| Level 3
Defined Benefit Plan, Change in Fair Value of Plan Assets, Level 3 Reconciliation [Roll Forward]
Fair value of plan assets at beginning of year	1,133	364	353
Additions during the year	0	0	0
Redemptions during the year	0	0	0
Revaluation of equity securities	13	753
Change in foreign currency exchange rates	(81)	16	11
Fair value of plan assets at end of year	$ 1,065	$ 1,133	$ 364

Retirement Plans - Defined Benefit Plans, Additional Information (Details) £ in Thousands, $ in Thousands	12 Months Ended
	Mar. 25, 2022 USD ($)	Mar. 26, 2021 USD ($)	Mar. 27, 2020 USD ($)	Mar. 25, 2022 GBP (£)	Mar. 26, 2021 GBP (£)
Pension Plan
Defined Benefit Plan Disclosure [Line Items]
Company contributions	$ 1,369	$ 986	$ 943
Company contributions next fiscal year	1,546
Other Defined Benefit Plan \| Pension Promise
Defined Benefit Plan Disclosure [Line Items]
Other assets, net	875	1,272		£ 661	£ 928
Accrued retirement, other long-term liabilities	$ 875	$ 1,272		£ 661	£ 928

- Definition

Amount of asset, recognized in statement of financial position, for overfunded defined benefit pension and other postretirement plans.

+ References + Details

Retirement Plans - Schedule of Estimated Future Benefit Payments (Details) - Pension Plan $ in Thousands	Mar. 25, 2022 USD ($)
Defined Benefit Plan, Expected Future Benefit Payment [Abstract]
2023	$ 1,459
2024	953
2025	1,004
2026	1,014
2027	1,383
Thereafter	8,885
Total	$ 14,698

Retirement Plans - Defined Contribution Plans, Additional Information (Details) - USD ($) $ in Thousands		12 Months Ended
	Jan. 01, 2015	Mar. 25, 2022	Mar. 26, 2021	Mar. 27, 2020
AML US Employee, Defined Contribution Plan
Defined Contribution Plan Disclosure [Line Items]
Maximum employee contribution		50.00%
Employer matching contribution		100.00%
Maximum employer contribution		5.00%
Total contributions		$ 4,074	$ 3,687	$ 3,792
AME Plan
Defined Contribution Plan Disclosure [Line Items]
Total contributions		$ 1,065	$ 507	$ 372
401(K) Plan
Defined Contribution Plan Disclosure [Line Items]
Maximum employee contribution		35.00%
Employer matching contribution	100.00%
Maximum employer contribution	5.00%
Vesting percentage		100.00%
Safe harbor provision, employer contribution		0.03

Commitment and Contingencies (Details) - USD ($)	Mar. 25, 2022	Mar. 26, 2021
Commitments and Contingencies Disclosure [Abstract]
Purchase obligation	$ 53,717,000
Accrued self insurance liability, current	417,000	$ 1,518,000
Indemnification accruals	0	0
Environmental accruals	$ 0	$ 0

Net Income per Share - Narrative (Details) - shares			12 Months Ended
Net Income per Share - Narrative (Details) - shares	Nov. 02, 2020	Nov. 01, 2020	Mar. 25, 2022	Mar. 26, 2021	Mar. 27, 2020
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 common shares (in shares)			191,811,205	176,416,645	10,000,000
Antidilutive securities excluded from computation of income per share (in shares)					0
Employee Stock Purchase Plan (ESPP)
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of income per share (in shares)			3,622
Restricted Stock Units (RSUs)
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of income per share (in shares)				273
Common Stock, 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%

Net Income per Share - Schedule of Computation of Net Income per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Mar. 25, 2022	Mar. 26, 2021	Mar. 27, 2020
Earnings Per Share [Abstract]
Net income attributable to Allegro MicroSystems, Inc.	$ 119,407	$ 17,953	$ 36,971
Net income attributable to common stockholders, basic	119,555	18,101	37,105
Net income attributable to common stockholders, diluted	$ 119,555	$ 18,101	$ 37,105
Basic weighted average common shares (in shares)	189,748,427	83,448,055	10,000,000
Dilutive effect of common stock equivalents (in shares)	2,062,778	92,968,590	0
Diluted weighted average common shares (in shares)	191,811,205	176,416,645	10,000,000
Basic net income attributable to Allegro MicroSystems, Inc. per share (in dollars per share)	$ 0.63	$ 0.22	$ 3.70
Basic net income attributable to common stockholders per share (in dollars per share)	0.63	0.22	3.71
Diluted net income attributable to Allegro MicroSystems, Inc. per share (in dollars per share)	0.62	0.10	3.70
Diluted net income attributable to common stockholders per share (in dollars per share)	$ 0.62	$ 0.10	$ 3.71

Net Income per Share - Schedule of Issuable Weighted Average Share Information (Details) - shares	12 Months Ended
	Mar. 25, 2022	Mar. 26, 2021	Mar. 27, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Dilutive effect of common stock equivalents (in shares)	2,062,778	92,968,590	0
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	92,438,187	0
Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Dilutive effect of common stock equivalents (in shares)	1,066,406	308,811	0
Performance Stock Units (PSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Dilutive effect of common stock equivalents (in shares)	996,372	218,678	0
Employee Stock Purchase Plan (ESPP)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Dilutive effect of common stock equivalents (in shares)	0	2,914	0

Common Stock and Stock-Based Compensation - Narrative (Details)						1 Months Ended	12 Months Ended
	Jan. 01, 2022 shares	Feb. 02, 2021 USD ($) shares	Nov. 02, 2020 USD ($) $ / shares shares	Oct. 02, 2020 USD ($) shares	Sep. 30, 2020 USD ($)	Oct. 31, 2017 USD ($) class $ / shares shares	Mar. 25, 2022 USD ($) $ / shares shares	Mar. 26, 2021 USD ($) $ / shares shares	Mar. 27, 2020 USD ($) $ / shares shares	Nov. 01, 2020 $ / shares shares	Mar. 29, 2019 shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Estimated offering costs \| $							$ 1,790,000
Number of classes of stock \| class						2
Common stock, shares authorized (in shares)							1,000,000,000	1,000,000,000
Common stock, par value (in dollars per share) \| $ / shares							$ 0.01	$ 0.01
Stock repurchased during period, aggregate purchase price \| $								$ 27,707,000
Shares issued upon conversion, including shares withheld for tax withholding obligation (in shares)			166,500,000
Common stock, shares outstanding (in shares)							190,473,595	189,588,161
Shares issued upon conversion (in shares)			164,431,766
Weighted average conversion price (in dollars per share) \| $ / shares			$ 14.00
Stock-based compensation \| $							$ 33,548,000	$ 49,870,000	$ 1,435,000
IPO
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares issued in transaction (in shares)		0	28,750,000
Offering price (in dollars per share) \| $ / shares			$ 14.00
Net proceeds \| $		$ 0	$ 321,425,000
Underwriting discounts \| $			20,125,000
Estimated offering costs \| $			$ 8,450,000
Stock-based compensation \| $								$ 40,440,000
IPO \| Allegro Microsystems, Inc.
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares issued in transaction (in shares)			25,000,000
IPO - Selling Shareholders
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares issued in transaction (in shares)		19,332,852	3,750,000
Shares Of Common Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares issued upon conversion (in shares)			163,972,017
Shares Of Unvested Restricted Common Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares issued upon conversion (in shares)			459,749
Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Grants in period (in shares)							1,344,717	1,428,932
Grant date fair value (in dollars per share) \| $ / shares							$ 26.00	$ 14.06
Stock-based compensation expense not yet recorded \| $							$ 22,790,000
Stock-based compensation expense not yet recorded, period for recognition							1 year 3 months 7 days
Vested during period (in shares)							622,508	160,063
Stock-based compensation \| $			$ 1,028,000				$ 19,918,000	$ 5,729,000
Outstanding balance (in shares)							1,701,007	1,225,156	0
Weighted-average grant date fair value (in dollars per share) \| $ / shares							$ 20.50	$ 14.07	$ 0
Performance Stock Units (PSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Grants in period (in shares)							465,732	650,302
Grant date fair value (in dollars per share) \| $ / shares							$ 27.08	$ 15.05
Stock-based compensation expense not yet recorded \| $							$ 12,893,000
Stock-based compensation expense not yet recorded, period for recognition							1 year 6 months 3 days
Vested during period (in shares)							0	0
Performance period							3 years
Intrinsic value, vested \| $							$ 27,869,000
Stock-based compensation \| $							$ 11,997,000	$ 1,269,000
Outstanding balance (in shares)							955,083	650,302	0
Weighted-average grant date fair value (in dollars per share) \| $ / shares							$ 20.22	$ 15.05	$ 0
Performance Stock Units (PSUs) \| Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Grant percentage of target shares granted maximum							0
Inclusion percentage of target goals							100.00%
Performance Stock Units (PSUs) \| Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Grant percentage of target shares granted maximum							2
Inclusion percentage of target goals							200.00%
Restricted Common Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Grants in period (in shares)								459,749
Grant date fair value (in dollars per share) \| $ / shares								$ 14.00
Vested during period (in shares)							241,787	50,170
Stock-based compensation \| $							$ 424,000	$ 174,000
Outstanding balance (in shares)							140,526	406,327	0
Weighted-average grant date fair value (in dollars per share) \| $ / shares							$ 14.00	$ 14.00	$ 0
Employee Stock Purchase Plan (ESPP)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense not yet recorded \| $							$ 272,000
Stock-based compensation expense not yet recorded, period for recognition							3 months 7 days
Common stock reserved for future issuance (in shares)			1,545,891
Number of shares immediately available for grant (in shares)			832,400
Number of shares that may become available for grant (in shares)			713,491
Purchase price of common stock, percentage of fair market value			85.00%
Offering period			6 months
Stock-based compensation \| $							$ 1,099,000	$ 247,000
Phantom Stock Grants
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Grants in period (in shares)	5,733
Vested during period (in shares)							2.15
Stock-based compensation \| $							$ 110,000
Common Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock repurchased during period (in shares)								2,068,274
Stock repurchased during period, aggregate purchase price \| $								$ 21,000
Common stock, shares outstanding (in shares)							190,473,595	189,588,161	0		0
Common Stock, Class A
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares issued in transaction (in shares)						2,880,000
Net proceeds \| $						$ 291,000,000
Estimated offering costs \| $						$ 9,260,000
Common stock, shares authorized (in shares)						12,500,000
Common stock, par value (in dollars per share) \| $ / shares						$ 0.01
Issuance of common stock, gross (in shares)						6,720,000
Priority dividend, percentage						0.08
Payments of dividends \| $					$ 400,000,000
Grants in period (in shares)						400,000
Vesting period						60 months
Conversion rate			15.822
Shares returned for tax payments made on behalf of holders of common stock (in shares)			2,066,468
Shares issued upon conversion (in shares)			156,155,403
Stock-based compensation \| $			$ 40,440,000
Common Stock, Class A \| Shares Of Common Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares issued upon conversion (in shares)			156,155,403
Common Stock, Class A \| Shares Of Unvested Restricted Common Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares issued upon conversion (in shares)			0
Common Stock, Class A \| OEP
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Noncontrolling interest ownership percentage						28.80%
Common Stock, Class A \| If Initial Public Offering or Change in Control Occurs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Accelerated vesting cost \| $						$ 40,440,000
Accelerated vesting, number (in shares)						400,000
Accelerated vesting, share price (in dollars per share) \| $ / shares						$ 101.10
Common Stock, Class A \| Common Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock, shares outstanding (in shares)							0	0	10,000,000		10,000,000
Common Stock, Class L
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock, shares authorized (in shares)						1,000,000
Common stock, par value (in dollars per share) \| $ / shares						$ 0.01
Grants in period (in shares)						597,400
Vesting period						4 years
Accelerated vesting, percentage			0.25
Stock repurchased during period (in shares)				1,997
Stock repurchased during period, aggregate purchase price \| $				$ 408,000
Conversion rate			13.010
Shares returned for tax payments made on behalf of holders of common stock (in shares)			1,766
Outstanding loan amounts extinguished \| $				$ 753,000
Common stock, shares outstanding (in shares)										638,298
Common stock, shares outstanding, weighted average price per share (in dollars per share) \| $ / shares										$ 11.99
Shares issued upon conversion (in shares)			8,276,363
Stock-based compensation \| $			$ 1,610,000					$ 1,169,000
Common Stock, Class L \| Shares Of Common Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares issued upon conversion (in shares)			7,816,614
Common Stock, Class L \| Shares Of Unvested Restricted Common Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares issued upon conversion (in shares)			459,749
Common Stock, Class L \| If Initial Public Offering Occurs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Accelerated vesting, percentage						0.25
Accelerated vesting, minimum percentage of awards unvested						0.25
Common Stock, Class L \| If a Change in Control Occurs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Accelerated vesting, percentage						1
Common Stock, Class L \| Common Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares issued during period (in shares)								17,203	30,300
Shares issued during period, weighted average price per share (in dollars per share) \| $ / shares								$ 33.83	$ 26.93
Stock repurchased during period (in shares)								1,997
Common stock, shares outstanding (in shares)							0	0	622,470		607,620

Common Stock and Stock-Based Compensation - Schedule of Stock Issued in Common Stock Conversion (Details)	Nov. 02, 2020 shares
Conversion of Stock [Line Items]
Shares issued upon conversion (in shares)	164,431,766
Common Stock, Class A
Conversion of Stock [Line Items]
Shares issued upon conversion (in shares)	156,155,403
Common Stock, Class L
Conversion of Stock [Line Items]
Shares issued upon conversion (in shares)	8,276,363
Shares Of Common Stock
Conversion of Stock [Line Items]
Shares issued upon conversion (in shares)	163,972,017
Shares Of Common Stock \| Common Stock, Class A
Conversion of Stock [Line Items]
Shares issued upon conversion (in shares)	156,155,403
Shares Of Common Stock \| Common Stock, Class L
Conversion of Stock [Line Items]
Shares issued upon conversion (in shares)	7,816,614
Shares Of Unvested Restricted Common Stock
Conversion of Stock [Line Items]
Shares issued upon conversion (in shares)	459,749
Shares Of Unvested Restricted Common Stock \| Common Stock, Class A
Conversion of Stock [Line Items]
Shares issued upon conversion (in shares)	0
Shares Of Unvested Restricted Common Stock \| Common Stock, Class L
Conversion of Stock [Line Items]
Shares issued upon conversion (in shares)	459,749

Common Stock and Stock-Based Compensation - Schedule of Restricted Stock Units Activity (Details) - Restricted Stock Units (RSUs) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Mar. 25, 2022	Mar. 26, 2021
Number of Shares
Beginning balance (in shares)	1,225,156	0
Granted (in shares)	1,344,717	1,428,932
Vested (in shares)	(622,508)	(160,063)
Cancelled (in shares)	(246,358)	(43,713)
Ending balance (in shares)	1,701,007	1,225,156
Weighted-Average Grant-Date Fair Value
Beginning balance (in dollars per share)	$ 14.07	$ 0
Granted (in dollars per share)	26.00	14.06
Vested (in dollars per share)	20.33	14.00
Cancelled (in dollars per share)	19.02	14.00
Ending balance (in dollars per share)	$ 20.50	$ 14.07
Weighted-Average Remaining Contractual Life (In years)	1 year 3 months 7 days	1 year 8 months 12 days
Aggregate Intrinsic Value	$ 49,635	$ 30,960

Common Stock and Stock-Based Compensation - Schedule of Performance Units Fair Value Assumptions (Details) - Performance Stock Units (PSUs)	12 Months Ended
	Mar. 26, 2021 $ / shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance term	2 years 5 months 1 day
Volatility	49.90%
Risk-free rate of return	0.17%
Dividend yield	0.00%
Weighted-average fair value per share (in dollars per share)	$ 14.00

Common Stock and Stock-Based Compensation - Summary of Performance Stock Units Activity (Details) - Performance Stock Units (PSUs) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Mar. 25, 2022	Mar. 26, 2021
Number of Shares
Beginning balance (in shares)	650,302	0
Granted (in shares)	465,732	650,302
Vested (in shares)	0	0
Cancelled (in shares)	(160,951)	0
Ending balance (in shares)	955,083	650,302
Weighted-Average Grant-Date Fair Value
Beginning balance (in dollars per share)	$ 15.05	$ 0
Granted (in dollars per share)	27.08	15.05
Vested (in dollars per share)	0	0
Cancelled (in dollars per share)	19.19	0
Ending balance (in dollars per share)	$ 20.22	$ 15.05
Weighted-Average Remaining Contractual Life (In years)	1 year 6 months 3 days	2 years 7 months 24 days
Aggregate Intrinsic Value	$ 27,869	$ 16,433

Common Stock and Stock-Based Compensation - Summary of Unvested Restricted Common Stock Activity (Details) - Restricted Common Stock - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Mar. 25, 2022	Mar. 26, 2021
Number of Shares
Beginning balance (in shares)	406,327	0
Granted (in shares)		459,749
Vested (in shares)	(241,787)	(50,170)
Cancelled (in shares)	(24,014)	(3,252)
Ending balance (in shares)	140,526	406,327
Weighted-Average Grant-Date Fair Value
Beginning balance (in dollars per share)	$ 14.00	$ 0
Granted (in dollars per share)		14.00
Vested (in dollars per share)	14.00	14.00
Cancelled (in dollars per share)	0	14.00
Ending balance (in dollars per share)	$ 14.00	$ 14.00
Weighted-Average Remaining Contractual Life (In years)	1 year 25 days	1 year 9 months 14 days
Aggregate Intrinsic Value	$ 4,101	$ 0

Common Stock and Stock-Based Compensation - Schedule of ESPP Fair Value Assumptions (Details) - Employee Stock Purchase Plan (ESPP) - $ / shares	12 Months Ended
	Mar. 25, 2022	Mar. 26, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance term	6 months	6 months
Volatility	48.10%	55.02%
Risk-free rate of return	0.10%	0.09%
Dividend yield	0.00%	0.00%
Weighted-average fair value per share (in dollars per share)	$ 8.25	$ 7.77

Common Stock and Stock-Based Compensation - Schedule of Stock-Based Compensation Expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Mar. 25, 2022	Mar. 26, 2021	Mar. 27, 2020
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock-based compensation	$ 33,548	$ 49,870	$ 1,435
Cost of sales
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock-based compensation	3,176	5,158	183
Research and development
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock-based compensation	3,933	3,573	87
Selling, general and administrative
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock-based compensation	$ 26,439	$ 41,139	$ 1,165

Income Taxes - Components of Income before Income Tax (Details) - USD ($) $ in Thousands	12 Months Ended
	Mar. 25, 2022	Mar. 26, 2021	Mar. 27, 2020
Income before provision for income taxes attributable to:
Domestic operations	$ 121,883	$ (2,288)	$ 34,425
Foreign operations	18,863	837	18,853
Income (loss) before income taxes	$ 140,746	$ (1,451)	$ 53,278

- Definition

Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8906-108599

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (f)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 940
-SubTopic 20
-Section 25
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=123384075&loc=d3e41242-110953

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8736-108599

Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(10))
-URI http://asc.fasb.org/extlink&oid=123367319&loc=SL114868664-224227

Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(8))
-URI http://asc.fasb.org/extlink&oid=120400993&loc=SL114874131-224263

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 235
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-05(b)(2))
-URI http://asc.fasb.org/extlink&oid=120399901&loc=d3e537907-122884

Reference 9: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 31
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8924-108599

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04(15))
-URI http://asc.fasb.org/extlink&oid=120399700&loc=SL114874048-224260

+ Details

Income Taxes - Components of Provision (Benefit) for Income Tax (Details) - USD ($) $ in Thousands	12 Months Ended
	Mar. 25, 2022	Mar. 26, 2021	Mar. 27, 2020
Current:
Federal	$ 7,779	$ (3,821)	$ 15,146
State	1,553	1,085	1,468
Foreign	4,361	2,115	4,468
Total current	13,693	(621)	21,082
Deferred:
Federal	7,892	(17,564)	(4,431)
State	371	(1,016)	18
Foreign	(765)	(351)	(496)
Total deferred	7,498	(18,931)	(4,909)
Total income tax provision	$ 21,191	$ (19,552)	$ 16,173

Income Taxes - Schedule of Income Taxes Reconciliation (Details) - USD ($) $ in Thousands	12 Months Ended
	Mar. 25, 2022	Mar. 26, 2021	Mar. 27, 2020
Income Tax Disclosure [Abstract]
Tax provision at U.S. statutory rate	$ 29,557	$ (305)	$ 11,189
162(m) limitation	3,988	0	0
Stock based compensation	(230)	(13,303)	0
CARES carryback claim and amended returns	(2,031)	(3,834)	0
PSL Divestiture	0	(2,009)	0
Research and development tax credit	(2,823)	(2,162)	(1,841)
FDII	(9,066)	0	(1,188)
BEAT	0	0	1,694
GILTI	0	0	86
Transaction costs	307	1,498	0
Foreign tax rate	(157)	1,279	283
State income taxes, net of federal benefit	2,370	356	514
Deferred tax remeasurement	0	309	0
Subpart F income, net of credits	283	43	0
Provision for uncertain tax positions	(17)	26	361
Provision for IRS audit settlement	0	0	5,491
Gain on contingent purchase price reduction	(420)	(525)	0
Cumulative provision-to-return	(590)	(862)	(186)
Other	20	(63)	(230)
Total income tax provision	$ 21,191	$ (19,552)	$ 16,173

Income Taxes - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
Income Taxes - Narrative (Details) - USD ($) $ in Thousands	Mar. 25, 2022	Mar. 26, 2021	Mar. 27, 2020	Mar. 29, 2019
Income Tax Contingency [Line Items]
Stock-based compensation	$ 33,548	$ 49,870	$ 1,435
One-time dividend treated as compensation expense for tax purposes		16,000
Estimated rate benefit	4,463
Unrecognized tax benefits that would impact effective tax rate	2,433	2,542	2,501
Provision for uncertain tax positions (net)	2,459	2,554	2,559	$ 6,264
Unrecognized tax benefits, income tax penalties and interest expense	58	73	841
Unrecognized tax benefits, income tax penalties and interest accrued	324	232
Adjustment from settlement with taxing authority		9,482
Capital contribution	0	0	$ 9,500
IPO
Income Tax Contingency [Line Items]
Stock-based compensation		$ 40,440
Domestic Tax Authority
Income Tax Contingency [Line Items]
Operating loss carryforward	8,364
Domestic Tax Authority \| Research Tax Credit Carryforward
Income Tax Contingency [Line Items]
Tax credit carryforward	2,631
State and Local Jurisdiction \| Research Tax Credit Carryforward
Income Tax Contingency [Line Items]
Tax credit carryforward	2,964
Foreign Tax Authority
Income Tax Contingency [Line Items]
Tax credit carryforward	305
France Tax Authority \| Research Tax Credit Carryforward
Income Tax Contingency [Line Items]
Tax credit carryforward	3,490
Thailand Tax Authority
Income Tax Contingency [Line Items]
Tax credit carryforward	2,106
Thailand Tax Authority \| AMTC Facility \| Held-for-sale
Income Tax Contingency [Line Items]
Operating loss carryforwards, valuation allowance	2,106
Thailand Tax Authority \| Research Tax Credit Carryforward \| AMTC Facility \| Held-for-sale
Income Tax Contingency [Line Items]
Tax credit carryforward, valuation allowance	$ 2,964

Income Taxes - Deferred Income Taxes (Details) - USD ($) $ in Thousands	Mar. 25, 2022	Mar. 26, 2021
Deferred income tax assets:
Net operating loss	$ 2,106	$ 11,054
Bonuses, commissions and other compensation	11,137	9,304
Tax credits	6,454	8,698
Inventory and sales related	5,892	6,304
Stock-based compensation	2,837	821
Right-of-use liability	2,221	0
Other accruals and reserves	2,067	2,050
Gross deferred income tax assets	32,714	38,231
Valuation allowance for deferred income tax assets	(5,070)	(5,025)
Total deferred income tax assets	27,644	33,206
Deferred income tax liabilities:
Fixed assets and intangibles	(4,720)	(4,366)
Equity method and other investments	(2,801)	(1,868)
Right-of-use asset	(2,156)	0
Total deferred income tax liabilities	(9,677)	(6,234)
Deferred income tax assets	$ 17,967	$ 26,972

Income Taxes - Unrecognized Tax Benefits (Details) - USD ($) $ in Thousands	12 Months Ended
	Mar. 25, 2022	Mar. 26, 2021	Mar. 27, 2020
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]
Beginning balance	$ 2,554	$ 2,559	$ 6,264
Gross increases-tax positions in prior period	0	55	4,863
Gross decreases-tax positions in prior period settlement	0	0	(8,513)
Lapse in statute of limitations	(95)	(60)	(55)
Balance at end of period	$ 2,459	$ 2,554	$ 2,559

Related Party Transactions (Details)							1 Months Ended	12 Months Ended
Related Party Transactions (Details)	Jan. 01, 2023 USD ($)	Apr. 01, 2022 USD ($)	Feb. 02, 2021 USD ($) shares	Nov. 02, 2020 USD ($) shares	Oct. 14, 2020 USD ($)	Mar. 28, 2020 USD ($)	Mar. 30, 2018 USD ($) shares	Mar. 25, 2022 USD ($)	Mar. 26, 2021 USD ($)	Mar. 27, 2020 USD ($) note lineofcredit	Dec. 02, 2021 USD ($)	Mar. 31, 2019 USD ($)	Jun. 30, 2018 USD ($)	May 31, 2018 USD ($)
Related Party Transaction [Line Items]
Stock issuance costs								$ 1,790,000
Total net sales								768,674,000	$ 591,207,000	$ 650,089,000
Trade and other accounts receivable due from related party								27,360,000	23,832,000
Amounts due to related party								5,222,000	2,353,000
Cost of goods sold								361,214,000	312,305,000	388,813,000
Trade accounts receivable, net								87,359,000	69,500,000
Related party note receivable, less current portion								5,625,000	0
Rent expense								5,720,000	4,385,000	5,456,000
Loan outstanding balance								25,000,000	25,000,000
IPO - Selling Shareholders
Related Party Transaction [Line Items]
Number of shares issued in transaction (in shares) \| shares			19,332,852	3,750,000
IPO
Related Party Transaction [Line Items]
Number of shares issued in transaction (in shares) \| shares			0	28,750,000
Net proceeds			$ 0	$ 321,425,000
Stock issuance costs				$ 8,450,000
Transition Services Agreement
Related Party Transaction [Line Items]
Fees received								25,000	25,000
Services comparison period						12 months
Term of agreement						12 months
Annual fees payable						$ 50,000
Basis spread on cost						10.00%
Extension term						12 months
Period for notice of termination (at least)						60 days
Eliminations
Related Party Transaction [Line Items]
Cost of goods sold								5,222,000	1,198,000
Trade accounts receivable, net						$ 3,368,000			(2,601,000)
OEP \| IPO - Selling Shareholders
Related Party Transaction [Line Items]
Number of shares issued in transaction (in shares) \| shares			1,832,852
Disposal Group, Disposed of by Sale, Not Discontinued Operations \| PSL
Related Party Transaction [Line Items]
Noncash or part noncash divestiture, amount of consideration received						42,700,000
Noncash or part noncash divestiture, amount of consideration transferred						$ 15,000,000
Disposal Group, Disposed of by Sale, Not Discontinued Operations \| PSL \| Sanken \| PSL
Related Party Transaction [Line Items]
Ownership percentage by majority shareholder						70.00%
Disposal Group, Disposed of by Sale, Not Discontinued Operations \| PSL \| PSL
Related Party Transaction [Line Items]
Stated interest rate						2.70%
Interest paid					$ 762,000
Repayments of related party notes receivable					51,377,000
Related party debt						$ 66,377,000
Related party note receivable, less current portion						51,377,000
Interest payable					$ 762,000			762,000
Related Party Revenue
Related Party Transaction [Line Items]
Total net sales								148,813,000	104,661,000	184,557,000
Distribution of Sanken products
Related Party Transaction [Line Items]
Total net sales								0	0	35,421,000
Sanken
Related Party Transaction [Line Items]
Trade and other accounts receivable due from related party								27,256,000	21,595,000
Other accounts receivable from related party								104,000	198,000
Purchases from related party										31,917,000
Amounts due to related party										4,494,000
Reimbursement of development costs								$ 0	0	1,440,000
Promissory notes outstanding												$ 30,000,000
Stated interest rate												2.52%
Interest income										$ 55,000
Number of notes payable \| note										3
Related party notes payable, less current portion										$ 17,700,000
Number of line-of-credit agreements \| lineofcredit										2
Related parties, notes payable, current										$ 25,000,000
Interest expense										1,444,000
Interest paid										1,538,000
Lessee, operating terminate, period of notice								6 months
Rent expense								$ 200,000	200,000	$ 200,000
Sanken \| LIBOR
Related Party Transaction [Line Items]
Basis spread on variable rate										1.00%
Sanken \| Related Party Revenue
Related Party Transaction [Line Items]
Total net sales								148,813,000	104,661,000	$ 184,557,000
Sanken \| Distribution of Sanken products
Related Party Transaction [Line Items]
Total net sales										35,421,000
PSL
Related Party Transaction [Line Items]
Trade and other accounts receivable due from related party						$ 3,368,000		0	767,000
Purchases from related party								55,297,000	42,196,000
Amounts due to related party								5,222,000	1,739,000
PSL \| Initial PSL Loan \| Loans Payable
Related Party Transaction [Line Items]
Principal amount											$ 7,500,000
Debt instrument, interest rate											1.26%
Loan outstanding balance								7,500,000
PSL \| Initial PSL Loan \| Loans Payable \| Subsequent Event
Related Party Transaction [Line Items]
Debt instrument, periodic payment		$ 500,000
Interest income		$ 31,000
PSL \| Secondary PSL Loan \| Loans Payable \| Forecast
Related Party Transaction [Line Items]
Principal amount	$ 7,500,000
Debt Instrument, term	4 years
PSL \| IC Technology Development Agreement
Related Party Transaction [Line Items]
Fees received								0	1,200,000	1,200,000
Fees paid								0	1,200,000	1,200,000
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								0	5,930,000
PSL \| PSL
Related Party Transaction [Line Items]
Repayments of related party notes receivable								767,000
SEEL
Related Party Transaction [Line Items]
Trade and other accounts receivable due from related party								0	1,272,000
Director
Related Party Transaction [Line Items]
Monthly fee payable													$ 19,000	$ 30,000
Signing fee							$ 54,000
Severance payment if terminated							$ 180,000
Accelerated vesting, acceleration period							6 months
Related party transaction amounts								$ 260,000	$ 318,000	$ 494,000
Director \| Common Stock, Class L
Related Party Transaction [Line Items]
Shares granted (in shares) \| shares							12,000,000

Label	Element	Value
Restricted Cash and Cash Equivalents	us-gaap_RestrictedCashAndCashEquivalents	$ 3,514,000