0001213900-24-044761 | 10-K | XBRL Viewer

Property, Plant and Equipment (Tables)

12 Months Ended

Mar. 30, 2024

Property, Plant and Equipment [Abstract]

Schedule of Property, Plant and Equipment

Property, plant and equipment consist of the following:

	March 30, 2024			April 1, 2023
Land	$	25.2		$	25.2
Buildings and improvements		175.0			174.3
Machinery and equipment		497.8			472.8
		698.0			672.3
Less: accumulated depreciation		(337.0	)		(297.0	)
	$	361.0		$	375.3

Summary of Significant Accounting Policies (Details) - Schedule of Activity within Each Component of Accumulated Other Comprehensive Income (Loss), net of Taxes $ in Millions	12 Months Ended
	Mar. 30, 2024 USD ($)
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance	$ (4.1)
Reclassification to net income	4.2
Net loss on foreign currency translation	1.0
Amortization of net gain, net of tax expense of $0.4	0.4
Gain on derivative instrument, net of tax expense of $0.9	(0.8)
Net current period other comprehensive income	4.8
Balance	0.7
Currency Translation [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance	(4.6)
Reclassification to net income
Net loss on foreign currency translation	1.0
Amortization of net gain, net of tax expense of $0.4
Gain on derivative instrument, net of tax expense of $0.9
Net current period other comprehensive income	1.0
Balance	(3.6)
Change in Fair Value of Derivatives [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance	(2.2)
Reclassification to net income	4.2
Net loss on foreign currency translation
Amortization of net gain, net of tax expense of $0.4
Gain on derivative instrument, net of tax expense of $0.9	(0.8)
Net current period other comprehensive income	3.4
Balance	1.2
Pension and Postretirement Liability [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance	2.7
Reclassification to net income
Net loss on foreign currency translation
Amortization of net gain, net of tax expense of $0.4	0.4
Gain on derivative instrument, net of tax expense of $0.9
Net current period other comprehensive income	0.4
Balance	$ 3.1

Related Party Transactions	12 Months Ended
Mar. 30, 2024
Related Party Transactions [Abstract]
Related Party Transactions	21. Related Party Transactions Equity Method Investee The Company has a joint venture in North America focused on joint logistics and e-business services. This joint venture, CoLinx, LLC (“CoLinx”), includes five equity members: Timken, SKF Group, Schaeffler Group, Gates Industrial Corp. and the Company. The e-business service focuses on information and business services for authorized distributors in the Industrial segment. Total expenses for services provided by CoLinx for the fiscal years ended March 30, 2024, April 1, 2023 and April 2, 2022 were $18.5, $18.4 and $7.2, respectively, and were included within selling, general and administrative costs on the consolidated statements of operations. Amounts outstanding in respect of these transactions were payables of $0.7 and $1.8 as of March 30, 2024 and April 1, 2023, respectively, and were included within accounts payable on the consolidated balance sheets. No dividends were received from CoLinx during the periods presented. The Company does not have any other equity method investees. The Company does not have any other significant related-party transactions.

Related Party Transactions

12 Months Ended

Mar. 30, 2024

Related Party Transactions

21. Related Party Transactions

Equity Method Investee

The Company has a joint venture in North America focused on joint logistics and e-business services. This joint venture, CoLinx, LLC (“CoLinx”), includes five equity members: Timken, SKF Group, Schaeffler Group, Gates Industrial Corp. and the Company. The e-business service focuses on information and business services for authorized distributors in the Industrial segment. Total expenses for services provided by CoLinx for the fiscal years ended March 30, 2024, April 1, 2023 and April 2, 2022 were $18.5, $18.4 and $7.2, respectively, and were included within selling, general and administrative costs on the consolidated statements of operations. Amounts outstanding in respect of these transactions were payables of $0.7 and $1.8 as of March 30, 2024 and April 1, 2023, respectively, and were included within accounts payable on the consolidated balance sheets. No dividends were received from CoLinx during the periods presented. The Company does not have any other equity method investees. The Company does not have any other significant related-party transactions.

- Definition

The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480990/946-20-50-2

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org/1943274/2147480990/946-20-50-5

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org/1943274/2147480990/946-20-50-6

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org/1943274/2147477968/946-235-50-2

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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-Paragraph 1
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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Reference 11: http://www.xbrl.org/2003/role/disclosureRef
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Reference 13: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org/1943274/2147483326/850-10-50-1

+ Details

Summary of Significant Accounting Policies (Details) - Schedule of Estimated Useful lives of the Company’s property, plant and equipment	12 Months Ended
	Mar. 30, 2024
Leasehold Improvements [Member]
Property, Plant and Equipment [Line Items]
Estimated Useful Lives	Shorter of the term of lease or estimated useful life
Minimum [Member] \| Buildings and Improvements [Member]
Property, Plant and Equipment [Line Items]
Estimated Useful Lives	20 years
Minimum [Member] \| Machinery and Equipment [Member]
Property, Plant and Equipment [Line Items]
Estimated Useful Lives	3 years
Maximum [Member] \| Buildings and Improvements [Member]
Property, Plant and Equipment [Line Items]
Estimated Useful Lives	30 years
Maximum [Member] \| Machinery and Equipment [Member]
Property, Plant and Equipment [Line Items]
Estimated Useful Lives	15 years

Other, Net

12 Months Ended

Mar. 30, 2024

Other, Net [Abstract]

Other, Net

19. Other, Net

Other, net is comprised of the following:

	Fiscal Year Ended
	March 30, 2024		April 1, 2023		April 2, 2022
Plant consolidation and restructuring costs	$	2.7	$	2.5	$	1.1
Acquisition costs and transition services		0.3		8.9		30.6
Provision for doubtful accounts		0.2		0.8		0.5
Amortization of intangibles		70.4		69.1		34.7
Loss on disposal of assets		0.6		0.3		0.3
Other expense		0.6		0.5		1.2
	$	74.8	$	82.1	$	68.4

Consolidated Statements of Stockholders’ Equity - USD ($)
$ in Millions

Common Stock

Preferred Stock

Additional Paid-in Capital

Accumulated Other Comprehensive Income/(Loss)

Retained Earnings

Treasury Stock

Total

Balance at Apr. 03, 2021

$ 0.3

$ 462.6

$ (10.4)

$ 843.4

$ (63.8)

$ 1,232.1

Balance (in Shares) at Apr. 03, 2021

26,110,320

(884,701)

Net income

54.7

Stock-based compensation

32.9

Preferred stock dividends

(12.0)

Repurchase of common stock

$ (8.6)

(8.6)

Repurchase of common stock (in Shares)

(43,621)

Exercise of equity awards

$ 0.0

18.0

Exercise of equity awards (in Shares)

149,896

Change in pension and post-retirement plan benefit adjustments, net of tax expense

4.2

Issuance of restricted stock, net of forfeitures

Issuance of restricted stock, net of forfeitures (in Shares)

96,992

Change in fair value of derivative, net

^[1]

Preferred stock issuance, net of issuance costs

$ 0.0

445.3

Preferred stock issuance, net of issuance costs (in Shares)

4,600,000

Common stock issuance, net of issuance costs

$ 0.0

605.5

Common stock issuance, net of issuance costs (in Shares)

3,450,000

Currency translation adjustments

0.4

Balance at Apr. 02, 2022

$ 0.3

$ 0.0

1,564.3

(5.8)

886.1

$ (72.4)

2,372.5

Balance (in Shares) at Apr. 02, 2022

29,807,208

4,600,000

(928,322)

Net income

166.7

Stock-based compensation

14.0

Preferred stock dividends

(22.9)

Repurchase of common stock

$ (7.7)

(7.7)

Repurchase of common stock (in Shares)

(38,076)

Exercise of equity awards

$ 0.0

11.6

Exercise of equity awards (in Shares)

116,563

Change in pension and post-retirement plan benefit adjustments, net of tax expense

9.4

Issuance of restricted stock, net of forfeitures

Issuance of restricted stock, net of forfeitures (in Shares)

66,177

Change in fair value of derivative, net

(2.2)

^[1]

Currency translation adjustments

(5.5)

Balance at Apr. 01, 2023

$ 0.3

$ 0.0

1,589.9

(4.1)

1,029.9

$ (80.1)

2,535.9

Balance (in Shares) at Apr. 01, 2023

29,989,948

4,600,000

(966,398)

Net income

209.9

Stock-based compensation

14.9

Preferred stock dividends

(23.0)

Repurchase of common stock

$ (11.0)

(11.0)

Repurchase of common stock (in Shares)

(48,655)

Exercise of equity awards

$ 0.0

20.4

$ 20.4

Exercise of equity awards (in Shares)

168,321

Change in pension and post-retirement plan benefit adjustments, net of tax expense

0.4

$ 0.4

Issuance of restricted stock, net of forfeitures

Issuance of restricted stock, net of forfeitures (in Shares)

69,175

Change in fair value of derivative, net

3.4

^[1]

Currency translation adjustments

1.0

Balance at Mar. 30, 2024

$ 0.3

$ 0.0

$ 1,625.2

$ 0.7

$ 1,216.8

$ (91.1)

$ 2,751.9

Balance (in Shares) at Mar. 30, 2024

30,227,444

4,600,000

(1,015,053)

[1]	These adjustments were net of tax expense of $1.0 and net of tax benefit of $0.6 in fiscal 2024 and fiscal 2023, respectively.

Goodwill and Intangible Assets (Tables)

12 Months Ended

Mar. 30, 2024

Goodwill and Intangible Assets [Abstract]

Schedule of Goodwill Balances, by Segment

Goodwill balances, by segment, consist of the following:

	Aerospace/ Defense		Industrial			Total
April 2, 2022	$	194.1	$	1,708.0		$	1,902.1
Acquisition ⁽¹⁾		—		(28.7	)		(28.7	)
Translation adjustments		—		(3.6	)		(3.6	)
April 1, 2023	$	194.1	$	1,675.7		$	1,869.8
Acquisition ⁽²⁾		5.1		—			5.1
Translation adjustments		—		(0.0	)		(0.0	)
March 30, 2024	$	199.2	$	1,675.7		$	1,874.9

⁽¹⁾	Purchase price adjustments associated with the acquisition of Dodge Industrial.

⁽²⁾	Goodwill associated with the acquisition of Specline, Inc. discussed further in Note 9.

Schedule of Intangible Assets

intangible assets

	Weighted		March 30, 2024				April 1, 2023
	Average Useful Lives (Years)		Gross Carrying Amount		Accumulated Amortization		Gross Carrying Amount		Accumulated Amortization
Product approvals		24	$	50.7	$	20.3	$	50.7	$	18.4
Customer relationships and lists		24		1,300.7		160.7		1,293.7		106.5
Trade names		25		217.2		32.5		215.4		23.3
Patents and trademarks		15		10.8		6.5		13.4		7.2
Domain names		10		0.4		0.4		0.4		0.4
Internal-use software		3		16.7		8.8		15.2		4.4
Other		5		1.6		1.3		1.1		1.1
				1,598.1		230.5		1,589.9		161.3
Non-amortizable repair station certifications		n/a		24.3		—		24.3		—
Total		24	$	1,622.4	$	230.5	$	1,614.2	$	161.3

Schedule of Estimated Amortization Expense

Estimated amortization expense for the five succeeding fiscal years and thereafter is as follows:

2025	$	70.7
2026		67.8
2027		66.1
2028		65.3
2029		63.9
2030 and thereafter		1,033.8

- Definition

Tabular disclosure of goodwill by reportable segment and in total which includes a rollforward schedule.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 24
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482548/350-20-55-24

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
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-Name Accounting Standards Codification
-Section 50
-Paragraph 1
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
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-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef
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-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef
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-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 6: http://www.xbrl.org/2009/role/commonPracticeRef
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-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef
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Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef
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Reference 9: http://www.xbrl.org/2009/role/commonPracticeRef
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Reference 10: http://www.xbrl.org/2009/role/commonPracticeRef
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-URI https://asc.fasb.org/1943274/2147482573/350-20-50-2

+ Details

Consolidated Statements of Stockholders’ Equity (Parentheticals) - USD ($) $ in Millions	12 Months Ended
	Mar. 30, 2024	Apr. 01, 2023	Apr. 02, 2022
Pension and Postretirement Expenses
Net of tax expense	$ 0.4	$ 2.0	$ 1.1
Change in Fair Value of Derivative
Change in fair value of derivatives		$ 0.6
Change in fair value of derivatives	$ 1.0

Debt (Details) - Schedule of Balances Payable Under All Borrowing Facilities - USD ($) $ in Millions	Mar. 30, 2024	Apr. 01, 2023
Schedule of Balances Payable Under All Borrowing Facilities [Abstract]
Revolver and term loan facilities	$ 695.2	$ 900.0
Senior notes	500.0	500.0
Debt issuance cost	(10.7)	(13.7)
Other	7.4	8.7
Total debt	1,191.9	1,395.0
Less: current portion	3.8	1.5
Long-term debt	$ 1,188.1	$ 1,393.5

- Definition

The carrying value as of the balance sheet date of the noncurrent portion of long-term obligations drawn from a line of credit, which is a bank's commitment to make loans up to a specific amount. Examples of items that might be included in the application of this element may consist of letters of credit, standby letters of credit, and revolving credit arrangements, under which borrowings can be made up to a maximum amount as of any point in time conditional on satisfaction of specified terms before, as of and after the date of drawdowns on the line. Includes short-term obligations that would normally be classified as current liabilities but for which (a) postbalance sheet date issuance of a long term obligation to refinance the short term obligation on a long term basis, or (b) the enterprise has entered into a financing agreement that clearly permits the enterprise to refinance the short-term obligation on a long term basis and the following conditions are met (1) the agreement does not expire within 1 year and is not cancelable by the lender except for violation of an objectively determinable provision, (2) no violation exists at the BS date, and (3) the lender has entered into the financing agreement is expected to be financially capable of honoring the agreement.

+ References + Details

Property, Plant and Equipment (Details) - USD ($) $ in Millions	12 Months Ended
	Mar. 30, 2024	Apr. 01, 2023	Apr. 02, 2022
Property, Plant and Equipment [Line Items]
Depreciation expense	$ 48.9	$ 46.2	$ 30.8
Finance leases included in buildings and improvements	51.8	51.5
Finance leases included in machinery and equipment	7.9	6.5
Finance leases accumulated amortization	10.3	5.8
Finance Lease, Right-of-Use Asset, Amortization	$ 4.9	$ 4.5	$ 1.3

Stockholders’ Equity (Details) - Schedule of Grant using the Black-Scholes Option Pricing Model	12 Months Ended
	Mar. 30, 2024	Apr. 01, 2023	Apr. 02, 2022
Schedule of Grant Using the Black Scholes Option Pricing Model [Abstract]
Dividend yield	0.00%	0.00%	0.00%
Expected weighted-average life (yrs.)	5 years	5 years	5 years
Risk-free interest rate	4.20%	3.05%	0.95%
Expected volatility	46.71%	45.57%	43.43%

Derivative Financial Instruments (Details) - USD ($) $ in Millions	12 Months Ended
	Mar. 30, 2024	Apr. 01, 2023	Dec. 30, 2022
Derivative Financial Instruments [Line Items]
Notional amount	$ 400.0
Maturity years			3 years
Fixed rate of interest percentage	4.455%
Specified time period	3 years
Year 1 [Member]
Derivative Financial Instruments [Line Items]
Notional amount	$ 600.0
Year 2 [Member]
Derivative Financial Instruments [Line Items]
Notional amount	400.0
Year 3 [Member]
Derivative Financial Instruments [Line Items]
Notional amount	$ 100.0
Interest Rate Swap [Member]
Derivative Financial Instruments [Line Items]
Notional amount			$ 600.0
Percentage of debt that bears interest at a fixed rate	75.00%
Other comprehensive income	$ 1.2
Other comprehensive loss derivative component		$ 2.2

Income Taxes

12 Months Ended

Mar. 30, 2024

Income Taxes [Abstract]

Income Taxes

16. Income Taxes

Income before income taxes for the Company’s domestic and foreign operations is as follows:

	Fiscal Year Ended
	March 30, 2024		April 1, 2023		April 2, 2022
Domestic		240.8	$	191.0	$	68.8
Foreign		21.0		18.7		9.9
Total income before income taxes	$	261.8	$	209.7	$	78.7

The provision for income taxes consists of the following:

	Fiscal Year Ended
	March 30, 2024			April 1, 2023			April 2, 2022
Current tax expense:
Federal	$	53.1		$	53.0		$	18.3
State		5.9			7.5			2.6
Foreign		5.2			3.9			2.9
		64.2			64.4			23.8
Deferred tax expense:
Federal		(9.3	)		(20.0	)		(0.5	)
State		(4.3	)		(2.6	)		(0.3	)
Foreign		1.3			1.2			1.0
		(12.3	)		(21.4	)		0.2
Total income taxes	$	51.9		$	43.0		$	24.0

An analysis of the difference between the provision for income taxes and the amount computed by applying the U.S. statutory income tax rate to pre-tax income follows:

	Fiscal Year Ended
	March 30, 2024			April 1, 2023			April 2, 2022
Income taxes using U.S. federal statutory rate	$	55.0		$	44.0		$	16.5
State income taxes, net of federal benefit		0.8			3.9			1.9
Stock-based compensation		(0.9	)		(1.6	)		(2.6	)
Foreign rate differential		2.0			1.1			1.6
Research and development credits		(2.5	)		(2.4	)		(1.5	)
Company-owned life insurance		(0.8	)		0.3			(0.0	)
Foreign derived intangible income (FDII)		(3.3	)		(2.7	)		(1.5	)
U.S. unrecognized tax positions		1.5			(1.9	)		5.4
Acquisition costs		0.0			0.0			1.7
Valuation allowance		(1.7	)		0.0			2.3
Other - net		1.8			2.3			0.2
	$	51.9		$	43.0		$	24.0

Net deferred tax assets (liabilities) are comprised of the following:

	March 30, 2024			April 1, 2023
Deferred tax assets:
Pension and postretirement benefits	$	1.5		$	1.8
Employee compensation accruals		11.4			10.9
Inventory		15.6			15.8
Operating lease liabilities		8.0			7.8
Finance lease liabilities		0.3			0.0
Stock compensation		5.4			3.4
Tax loss and credit carryforwards		11.5			12.5
State tax		1.3			1.3
Other accrued liabilities		8.1			8.9
Capitalized research and development costs		16.4			8.1
Other		0.4			5.1
Total gross deferred tax assets		79.9			75.6
Valuation allowance		(7.0	)		(8.5	)
Total deferred tax assets	$	72.9		$	67.1

Deferred tax liabilities:
Property, plant and equipment	$	(32.4	)	$	(33.5	)
Operating lease assets		(7.7	)		(7.7	)
Other		(3.7	)		(3.3	)
Intangible assets		(312.4	)		(316.7	)
Total deferred tax liabilities	$	(356.2	)	$	(361.2	)

Total net deferred liabilities	$	(283.3	)	$	(294.1	)

The Company evaluates deferred tax assets to ensure that the estimated future taxable income will be sufficient in character (i.e. capital versus ordinary income treatment), amount and timing to result in their recovery. After considering the positive and negative evidence, a valuation allowance has been recorded on foreign tax credits and on certain state and foreign credits and net operating losses as it is more likely than not (i.e., greater than a 50% likelihood) that these items will not be utilized. For the Company’s fiscal year ended March 30, 2024 the valuation allowance decreased by $1.5, which primarily related to the expiration of a capital loss carryforward. For the fiscal year ended April 1, 2023 the valuation allowance decreased by less than $0.2. These valuation allowances are required because management has determined, based on financial projections and available tax strategies, that it is unlikely the net operating losses and credits will be utilized before they expire. If events or circumstances change, valuation allowances are adjusted at that time resulting in an income tax benefit or charge.

At March 30, 2024, the Company had state net operating loss carryovers in different jurisdictions at varying amounts up to $5.3, which expire at various dates through 2036. At March 30, 2024, the Company had foreign net operating loss carryovers in different jurisdictions at varying amounts totaling $2.7, which will expire at various dates through fiscal 2028. At March 30, 2024, the Company had U.S. federal and state credits in different jurisdictions at varying amounts up to $11.0 which principally expire at various dates through 2038. At March 30, 2024, the Company had Canadian investment tax credits up to $0.2 which will expire at various dates through 2038.

Under accounting standards (ASC 740) a deferred tax liability is not recorded for the excess of the tax basis over the financial reporting (book) basis of an investment in a foreign subsidiary if the indefinite reinvestment criteria is met. The Tax Cuts and Jobs Act (TCJA) required a mandatory deemed repatriation of certain undistributed earnings of the Company’s foreign subsidiaries as of December 31, 2017, and income taxes were accrued accordingly. If these deemed repatriated earnings were distributed in the form of cash dividends, the Company would not be subject to additional U.S. income taxes, other than tax arising from the movement of foreign exchange rates on previously taxed earnings, but could be subject to foreign income and withholding taxes. A provision had not been made for additional U.S. and foreign taxes at March 30, 2024 on approximately $71.9 of undistributed earnings of foreign subsidiaries or for any additional tax on the deemed repatriated earnings because the Company intends to reinvest these funds indefinitely to support foreign growth opportunities and foreign operations. Due to the inherent complexity of the multinational tax environment in which the Company operates, it is not practicable to estimate the unrecognized deferred tax liability on these undistributed earnings. These earnings could become subject to additional tax under certain circumstances including, but not limited to, loans to the Company, or upon sale or pledging of the foreign subsidiary’s stock.

Uncertain Tax Positions

Unrecognized income tax benefits represent income tax positions taken on income tax returns but not yet recognized in the consolidated financial statements. If recognized, substantially all of the unrecognized tax benefits for the Company’s fiscal years ended March 30, 2024 and April 1, 2023 would affect the effective income tax rate.

A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows:

	March 30, 2024			April 1, 2023			April 2, 2022
Balance, beginning of year	$	13.1		$	22.8		$	16.6
Gross increases (decreases) – tax positions taken during a prior period		2.0			(8.9	)		0.4
Gross increases – tax positions taken during the current period		1.7			1.7			7.6
Reductions due to lapse of the applicable statute of limitations		(1.6	)		(2.5	)		(1.8	)
Balance, end of year	$	15.2		$	13.1		$	22.8

The Company recognizes the interest and penalties accrued related to unrecognized tax benefits in income tax expense. The Company recognized a benefit of $0.3 for the fiscal year ended March 30, 2024 and expense of $0.1 and $0.1 related to interest and penalties on its statement of operations for the fiscal years ended April 1, 2023 and April 2, 2022, respectively. The Company had approximately $1.2 and $1.5 of accrued interest and penalties at March 30, 2024 and April 1, 2023, respectively.

The Company believes it is reasonably possible that some of its unrecognized tax positions may be effectively settled by the end of the Company’s fiscal year ending March 29, 2025, due to the closing of audits and the statute of limitations expiring in various jurisdictions. The decrease, pertaining primarily to federal and state credits and state tax, is estimated to be $1.9.

The Company files income tax returns in numerous U.S. and foreign jurisdictions, with returns subject to examination for varying periods, but generally back to and including the fiscal year ending April 3, 2021, although certain tax credits generated in earlier years are open under statute from March 31, 2007. The Company is no longer subject to U.S. federal tax examination by the Internal Revenue Service for years ending before April 3, 2021.

- Definition

The entire disclosure for income tax.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-12

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 231
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482663/740-10-55-231

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12C
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-12C

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12B
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-12B

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 270
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477891/740-270-50-1

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SAB Topic 6.I.5.Q1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479360/740-10-S99-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480990/946-20-50-13

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(h)(2))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480678/235-10-S99-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/740/tableOfContent

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-14

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 21
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-21

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 17
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-17

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SAB Topic 11.C)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479360/740-10-S99-2

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482603/740-30-50-2

+ Details

Summary of Significant Accounting Policies (Details) $ in Millions		12 Months Ended
	Oct. 31, 2021	Mar. 30, 2024 USD ($) Segments shares	Apr. 01, 2023 USD ($) Segments shares	Apr. 02, 2022 USD ($) Segments shares
Summary of Significant Accounting Policies [Line Items]
Fiscal year consist		52	52	52
Percentage of sales where revenue is recognized over time		1.00%	1.00%	1.00%
Recorded grant revenue		$ 0.0	$ 3.1	$ 4.4
Discount rate utilized for each reporting unit		10.00%
Terminal growth rate		2.50%
Reporting units \| Segments		2	2	2
Impairment charges		$ 2.5
Research and Development Expense		33.0	$ 31.8	$ 27.6
Fair value of interest rate swap in AOCI, net of taxes		1.2
Senior Notes [Member]
Summary of Significant Accounting Policies [Line Items]
Fair value of the senior notes		456.8
Interest Rate Swap [Member]
Summary of Significant Accounting Policies [Line Items]
Fair value of the interest rate swap in AOCI		1.6	$ 2.8
Interest Rate Swap [Member] \| Level 2 [Member]
Summary of Significant Accounting Policies [Line Items]
Fair value of the interest rate swap in AOCI		$ 1.6
Minimum [Member]
Summary of Significant Accounting Policies [Line Items]
Fiscal year consist		52
Fair value of reporting units		18.80%
Global minimum tax rate	15.00%
Maximum [Member]
Summary of Significant Accounting Policies [Line Items]
Fiscal year consist		53
Fair value of reporting units		53.50%
Common Stock [Member]
Summary of Significant Accounting Policies [Line Items]
Convertible stock \| shares		4,600,000
Restricted Stock [Member]
Summary of Significant Accounting Policies [Line Items]
Employee stock options excluded from the calculation of diluted earnings per share attributable to common stockholders \| shares		250	1,185	325
Other Customer [Member] \| Customer Concentration Risk [Member] \| Accounts Receivable [Member]
Summary of Significant Accounting Policies [Line Items]
Customer percentage of sales greater than 10%		16.00%	15.00%
Employee Stock [Member]
Summary of Significant Accounting Policies [Line Items]
Employee stock options excluded from the calculation of diluted earnings per share attributable to common stockholders \| shares		120,954	110,368	179,289

Organization and Business (Details)	12 Months Ended
Organization and Business (Details)	Mar. 30, 2024	Apr. 01, 2023	Apr. 02, 2022
Organization and Business [Abstract]
Total number of facilities	54
Total number of countries	11
Total number of manufacturing facilities	38
Reportable business segments	2	2	2
Largest customer percentage of sales	17.00%	16.00%	11.00%

Reportable Segments (Details) - Schedule of Reportable Segment - USD ($) $ in Millions	12 Months Ended
	Mar. 30, 2024	Apr. 01, 2023	Apr. 02, 2022
Net External Sales
Net External Sales	$ 1,560.3	$ 1,469.3	$ 942.9
Gross Margin
Gross Margin	670.5	604.8	357.1
Selling, General and Administrative Expenses
Selling, General and Administrative Expenses	253.5	229.7	167.6
Operating Income
Operating Income	342.2	293.0	121.1
Total Assets
Total Assets	4,678.6	4,690.4	4,845.4
Capital Expenditures
Capital Expenditures	33.2	42.0	29.8
Depreciation & Amortization
Depreciation & Amortization	119.3	115.4	65.5
Geographic External Sales
Geographic External Sales	1,560.3	1,469.3	942.9
Geographic Long-Lived Assets
Geographic Long-Lived Assets	402.4	416.7	431.2
Aerospace/ Defense [Member]
Net External Sales
Net External Sales	519.4	430.3	381.5
Gross Margin
Gross Margin	208.8	171.0	155.1
Selling, General and Administrative Expenses
Selling, General and Administrative Expenses	37.8	31.1	29.0
Operating Income
Operating Income	161.7	132.7	117.8
Total Assets
Total Assets	798.6	749.8	776.5
Capital Expenditures
Capital Expenditures	10.6	9.5	7.5
Depreciation & Amortization
Depreciation & Amortization	19.6	18.6	19.1
Industrial [Member]
Net External Sales
Net External Sales	1,040.9	1,039.0	561.4
Gross Margin
Gross Margin	461.7	433.8	202.0
Selling, General and Administrative Expenses
Selling, General and Administrative Expenses	132.8	122.5	58.6
Operating Income
Operating Income	272.6	236.5	107.5
Total Assets
Total Assets	3,779.6	3,845.7	3,920.9
Capital Expenditures
Capital Expenditures	20.4	29.1	19.3
Depreciation & Amortization
Depreciation & Amortization	96.3	93.4	43.1
Corporate [Member]
Selling, General and Administrative Expenses
Selling, General and Administrative Expenses	82.9	76.1	80.0
Operating Income
Operating Income	(92.1)	(76.2)	(104.2)
Total Assets
Total Assets	100.4	94.9	148.0
Capital Expenditures
Capital Expenditures	2.2	3.4	3.0
Depreciation & Amortization
Depreciation & Amortization	3.4	3.4	3.3
Domestic [Member]
Geographic External Sales
Geographic External Sales	1,375.4	1,292.9	833.4
Geographic Long-Lived Assets
Geographic Long-Lived Assets	341.5	360.7	373.0
Foreign [Member]
Geographic External Sales
Geographic External Sales	184.9	176.4	109.5
Geographic Long-Lived Assets
Geographic Long-Lived Assets	$ 60.9	$ 56.0	$ 58.2

Leases (Details) - USD ($) $ in Millions	12 Months Ended
Leases (Details) - USD ($) $ in Millions	Mar. 30, 2024	Apr. 01, 2023	Apr. 02, 2022
Leases [Line Items]
Cash paid included in the measurement of operating lease liabilities	$ 8.1	$ 8.5
Operating lease assets obtained in exchange for new operating lease liabilities	1.7	2.0
Cash paid included in the measurement of finance lease liabilities	5.3	5.0
Cash included in financing cash flow section of the consolidated statements of cash flows	3.6	3.2	$ 1.6
Cash payments included within the operating cash flow section of the consolidated statements of cash flows	1.8	1.8
Finance lease assets obtained in exchange for new finance lease liabilities	2.3	4.0
Operating lease expense	10.1	9.9	$ 8.3
Finance lease expense	6.7	6.4
Amortization expense of finance lease assets	5.0	4.5
Finance lease expense related to interest expense	$ 1.7	1.9
weighted-average remaining lease term. operating lease	10 years 2 months 12 days
Weighted average discount rate of operating lease	5.70%
weighted-average remaining lease term finance lease	14 years 3 months 18 days
Weighted average discount rate of finance lease	3.50%
Lease Modifications [Member]
Leases [Line Items]
Operating lease liability	$ 5.4	3.1
Finance lease liabilities	$ 0.0	$ 0.1

Specline Acquisition (Details) $ in Millions	Aug. 18, 2023 USD ($)
Specline Acquisition [Abstract]
Acquired the business assets	$ 18.7
Accounts receivable	1.4
Inventory	4.0
Fixed assets	1.5
Operating lease assets	0.8
Intangible assets	8.8
Earnout liability	2.1
Operating lease liabilities	0.8
Goodwill	$ 5.1

Revenue from Contracts with Customers

12 Months Ended

Mar. 30, 2024

Revenue from Contracts with Customers [Abstract]

Revenue from Contracts with Customers

3. Revenue from Contracts with Customers

Disaggregation of Revenue

The following table disaggregates total revenue by end market which is how we view our reportable segments (see Note 20):

	Fiscal Year Ended
	March 30, 2024		April 1, 2023		April 2, 2022
Aerospace/Defense	$	519.4	$	430.3	$	381.5
Industrial		1,040.9		1,039.0		561.4
	$	1,560.3	$	1,469.3	$	942.9

The following table disaggregates total revenue by geographic origin:

	Fiscal Year Ended
	March 30, 2024		April 1, 2023		April 2, 2022
United States	$	1,375.4	$	1,292.9	$	833.4
International		184.9		176.4		109.5
	$	1,560.3	$	1,469.3	$	942.9

The following table illustrates the approximate percentage of revenue recognized for performance obligations satisfied over time versus the amount of revenue recognized for performance obligations satisfied at a point in time:

	Fiscal Year Ended
	March 30, 2024			April 1, 2023			April 2, 2022
Point-in-time		98	%		98	%		97	%
Over time		2	%		2	%		3	%
		100	%		100	%		100	%

Remaining Performance Obligations

Remaining performance obligations represent the transaction price of orders meeting the definition of a contract in the new revenue standard for which work has not been performed or has been partially performed and excludes unexercised contract options. The duration of the majority of our contracts, as defined by ASC Topic 606, is less than one year. The Company has elected to apply the practical expedient, which allows companies to exclude remaining performance obligations with an original expected duration of one year or less. The aggregate amount of the transaction price allocated to remaining performance obligations for such contracts with a duration of more than one year was approximately $464.4 at March 30, 2024. The Company expects to recognize revenue on approximately 62% and 92% of the remaining performance obligations over the next 12 and 24 months, respectively, with the remainder recognized thereafter.

Contract Balances

The timing of revenue recognition, invoicing and cash collections affect accounts receivable, unbilled receivables (contract assets) and customer advances and deposits (contract liabilities) on the consolidated balance sheets. These assets and liabilities are reported on the consolidated balance sheets on an individual contract basis at the end of each reporting period.

Contract Assets (Unbilled Receivables) - Pursuant to the over-time revenue recognition model, revenue may be recognized prior to the customer being invoiced. An unbilled receivable is recorded to reflect revenue that is recognized when (1) the cost-to-cost method is applied and (2) such revenue exceeds the amount invoiced to the customer.

As of March 30, 2024 and April 1, 2023, current contract assets were $6.9 and $4.5, respectively, and included within prepaid expenses and other current assets on the consolidated balance sheets. The increase in contract assets was primarily due to the recognition of revenue related to the satisfaction or partial satisfaction of performance obligations prior to billing partially offset by amounts billed to customers during the period. As of March 30, 2024 and April 1, 2023, the Company did not have any contract assets classified as noncurrent on the consolidated balance sheets.

Contract Liabilities (Deferred Revenue) - The Company may receive a customer advance or deposit, or have an unconditional right to receive a customer advance, prior to revenue being recognized. Since the performance obligations related to such advances may not have been satisfied, a contract liability is established. Advance payments are not considered a significant financing component as the timing of the transfer of the related goods or services is at the discretion of the customer.

As of March 30, 2024 and April 1, 2023, current contract liabilities were $22.5 and $20.6, respectively, and included within accrued expenses and other current liabilities on the consolidated balance sheets. The increase in current contract liabilities was primarily due to advance payments received and the reclassification of a portion of advance payments received from the noncurrent portion of contract liabilities partially offset by revenue recognized on customer contracts. For the year ended March 30, 2024, the Company recognized revenues of $16.4 that were included in the contract liability balance as of April 1, 2023. For the year ended April 1, 2023, the Company recognized revenues of $13.1 that were included in the contract liability balance at April 2, 2022.

As of March 30, 2024 and April 1, 2023, noncurrent contract liabilities were $19.9 and $19.8, respectively, and included within other noncurrent liabilities on the consolidated balance sheets. The increase in noncurrent contract liabilities was primarily due to advance payments received partially offset by the reclassification of a portion of advance payments received to the current portion of contract liabilities.

Variable Consideration

The amount of consideration to which the Company expects to be entitled in exchange for the goods and services is not generally subject to significant variations. However, the Company does offer certain customers rebates, prompt payment discounts, end-user discounts, the right to return eligible products, and/or other forms of variable consideration. The Company estimates this variable consideration using the expected value amount, which is based on historical experience. The Company includes estimated amounts in the transaction price to the extent it is probable that a significant reversal of cumulative revenue recognized will not occur when the uncertainty associated with the variable consideration is resolved. The Company adjusts the estimate of revenue at the earlier of when the amount of consideration the Company expects to receive changes or when the consideration becomes fixed. Accrued customer rebates were $38.0 and $39.6 at March 30, 2024 and April 1, 2023, respectively, and are included within accrued expenses and other current liabilities on the consolidated balance sheets.

- 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
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-9

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 10
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-10

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 15
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-15

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-12

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-12

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-12

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-12

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-12

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (b)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-13

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Name Accounting Standards Codification
-Topic 606
-Publisher FASB
-URI https://asc.fasb.org/606/tableOfContent

+ Details

Income Taxes (Details) - Schedule of Provision for Income Taxes - USD ($) $ in Millions	12 Months Ended
	Mar. 30, 2024	Apr. 01, 2023	Apr. 02, 2022
Current tax expense:
Federal	$ 53.1	$ 53.0	$ 18.3
State	5.9	7.5	2.6
Foreign	5.2	3.9	2.9
Current tax expense	64.2	64.4	23.8
Deferred tax expense:
Federal	(9.3)	(20.0)	(0.5)
State	(4.3)	(2.6)	(0.3)
Foreign	1.3	1.2	1.0
Deferred income taxes	(12.3)	(21.4)	0.2
Total income taxes	$ 51.9	$ 43.0	$ 24.0

Commitments and Contingencies (Details) - USD ($) $ in Millions	12 Months Ended
	Mar. 30, 2024	Apr. 01, 2023	Apr. 02, 2022
Commitments and Contingencies [Line Items]
Percentage of employees represented by labor unions	5.00%
Audits by the U.S. government	no	no	no
Outstanding standby letters of credit	$ 3.7
Enterprise Resource Planning [Member]
Commitments and Contingencies [Line Items]
License costs	$ 7.6

Debt (Tables)

12 Months Ended

Mar. 30, 2024

Debt [Abstract]

Schedule of Balances Payable Under All Borrowing Facilities

The balances payable under all borrowing facilities are as follows:

	March 30, 2024			April 1, 2023
Revolver and term loan facilities	$	695.2		$	900.0
Senior notes		500.0			500.0
Debt issuance cost		(10.7	)		(13.7	)
Other		7.4			8.7
Total debt		1,191.9			1,395.0
Less: current portion		3.8			1.5
Long-term debt	$	1,188.1		$	1,393.5

Other Noncurrent Liabilities (Details) - Schedule of Other Noncurrent Liabilities - USD ($) $ in Millions	Mar. 30, 2024	Apr. 01, 2023
Schedule of Other Noncurrent Liabilities [Abstract]
Other postretirement benefits	$ 10.7	$ 10.0
Noncurrent income tax liability	14.1	14.6
Deferred compensation	29.9	25.7
Contract liabilities	19.9	19.8
Noncurrent finance lease liabilities	46.7	48.5
Other	3.5	4.1
Other Liabilities, Noncurrent	$ 124.8	$ 122.7

Revenue from Contracts with Customers (Details) - Schedule of Disaggregates Total Revenue by Geographic Origin - USD ($) $ in Millions	12 Months Ended
	Mar. 30, 2024	Apr. 01, 2023	Apr. 02, 2022
Schedule of Disaggregates Total Revenue by Geographic Origin [Line Items]
Net sales	$ 1,560.3	$ 1,469.3	$ 942.9
United States [Member]
Schedule of Disaggregates Total Revenue by Geographic Origin [Line Items]
Net sales	1,375.4	1,292.9	833.4
International [Member]
Schedule of Disaggregates Total Revenue by Geographic Origin [Line Items]
Net sales	$ 184.9	$ 176.4	$ 109.5

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

- Definition

Amount of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income before deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss).

+ References

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+ Details

Allowance for Doubtful Accounts (Details) - Schedule of Allowance for Doubtful Accounts - USD ($)
$ in Millions

12 Months Ended

Mar. 30, 2024

Apr. 01, 2023

Apr. 02, 2022

Schedule of Allowance for Doubtful Accounts [Abstract]

Allowance for doubtful accounts, Balance at Beginning of Year

$ 3.7

$ 2.7

$ 1.8

Allowance for doubtful accounts, Additions

0.2

0.8

1.4

Allowance for doubtful accounts, Other

^[1]

0.5

0.4

(0.1)

Allowance for doubtful accounts, Write-offs

(0.2)

(0.4)

Allowance for doubtful accounts, Balance at End of Year

$ 4.4

$ 3.7

$ 2.7

[1]	Foreign currency, price discrepancies, customer returns, disposition and acquisition transactions.

Fair Value (Details) - USD ($) $ in Millions	Mar. 30, 2024	Apr. 01, 2023
Fair Value [Line Items]
Long-term fixed-rate debt, based on quoted market prices	$ 456.8	$ 450.0
Carrying value of debt amount	494.2	493.3
AOCI of interest rate swap, net of taxes	1.2	2.2
Fair Value of Interest Rate Swap [Member]
Fair Value [Line Items]
Fair value of the interest rate swap	$ 1.6	$ 2.8

Income Taxes (Tables)

12 Months Ended

Mar. 30, 2024

Income Taxes [Abstract]

Schedule of Income Before Income Taxes for the Company’s Domestic and Foreign Operations

Income before income taxes for the Company’s domestic and foreign operations is as follows:

	Fiscal Year Ended
	March 30, 2024		April 1, 2023		April 2, 2022
Domestic		240.8	$	191.0	$	68.8
Foreign		21.0		18.7		9.9
Total income before income taxes	$	261.8	$	209.7	$	78.7

Schedule of Provision for Income Taxes

The provision for income taxes consists of the following:

	Fiscal Year Ended
	March 30, 2024			April 1, 2023			April 2, 2022
Current tax expense:
Federal	$	53.1		$	53.0		$	18.3
State		5.9			7.5			2.6
Foreign		5.2			3.9			2.9
		64.2			64.4			23.8
Deferred tax expense:
Federal		(9.3	)		(20.0	)		(0.5	)
State		(4.3	)		(2.6	)		(0.3	)
Foreign		1.3			1.2			1.0
		(12.3	)		(21.4	)		0.2
Total income taxes	$	51.9		$	43.0		$	24.0

Schedule of Provision for Income Taxes and the Amount Computed by Applying the U.S. Statutory Income Tax Rate to Pre-Tax Income

An analysis of the difference between the provision for income taxes and the amount computed by applying the U.S. statutory income tax rate to pre-tax income follows:

	Fiscal Year Ended
	March 30, 2024			April 1, 2023			April 2, 2022
Income taxes using U.S. federal statutory rate	$	55.0		$	44.0		$	16.5
State income taxes, net of federal benefit		0.8			3.9			1.9
Stock-based compensation		(0.9	)		(1.6	)		(2.6	)
Foreign rate differential		2.0			1.1			1.6
Research and development credits		(2.5	)		(2.4	)		(1.5	)
Company-owned life insurance		(0.8	)		0.3			(0.0	)
Foreign derived intangible income (FDII)		(3.3	)		(2.7	)		(1.5	)
U.S. unrecognized tax positions		1.5			(1.9	)		5.4
Acquisition costs		0.0			0.0			1.7
Valuation allowance		(1.7	)		0.0			2.3
Other - net		1.8			2.3			0.2
	$	51.9		$	43.0		$	24.0

Schedule of Net Deferred Tax Assets (Liabilities)

Net deferred tax assets (liabilities) are comprised of the following:

	March 30, 2024			April 1, 2023
Deferred tax assets:
Pension and postretirement benefits	$	1.5		$	1.8
Employee compensation accruals		11.4			10.9
Inventory		15.6			15.8
Operating lease liabilities		8.0			7.8
Finance lease liabilities		0.3			0.0
Stock compensation		5.4			3.4
Tax loss and credit carryforwards		11.5			12.5
State tax		1.3			1.3
Other accrued liabilities		8.1			8.9
Capitalized research and development costs		16.4			8.1
Other		0.4			5.1
Total gross deferred tax assets		79.9			75.6
Valuation allowance		(7.0	)		(8.5	)
Total deferred tax assets	$	72.9		$	67.1

Deferred tax liabilities:
Property, plant and equipment	$	(32.4	)	$	(33.5	)
Operating lease assets		(7.7	)		(7.7	)
Other		(3.7	)		(3.3	)
Intangible assets		(312.4	)		(316.7	)
Total deferred tax liabilities	$	(356.2	)	$	(361.2	)

Total net deferred liabilities	$	(283.3	)	$	(294.1	)

Schedule of Reconciliation of the Beginning and Ending Amount of Unrecognized Tax Benefits

A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows:

	March 30, 2024			April 1, 2023			April 2, 2022
Balance, beginning of year	$	13.1		$	22.8		$	16.6
Gross increases (decreases) – tax positions taken during a prior period		2.0			(8.9	)		0.4
Gross increases – tax positions taken during the current period		1.7			1.7			7.6
Reductions due to lapse of the applicable statute of limitations		(1.6	)		(2.5	)		(1.8	)
Balance, end of year	$	15.2		$	13.1		$	22.8

Pay vs Performance Disclosure - USD ($) $ in Millions	12 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Millions	Mar. 30, 2024	Apr. 01, 2023	Apr. 02, 2022
Pay vs Performance Disclosure
Net Income (Loss)	$ 209.9	$ 166.7	$ 54.7

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

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-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iii)(B))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1B

Reference 30: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
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-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
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Reference 31: http://www.xbrl.org/2003/role/disclosureRef
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Reference 32: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 60B
-Subparagraph (a)
-Publisher FASB
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Reference 33: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
-Section 50
-Paragraph 7
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-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 28
-Publisher FASB
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Reference 35: http://www.xbrl.org/2003/role/disclosureRef
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-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 1A
-Subparagraph (a)
-Publisher FASB
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Reference 36: http://www.xbrl.org/2003/role/disclosureRef
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Reference 37: http://fasb.org/us-gaap/role/ref/legacyRef
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-Name Accounting Standards Codification
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-Paragraph 1
-Subparagraph (SX 210.9-04(22))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478524/942-220-S99-1

+ Details

Income Taxes (Details) - Schedule of Provision for Income Taxes and the Amount Computed by Applying the U.S. Statutory Income Tax Rate to Pre-Tax Income - USD ($) $ in Millions	12 Months Ended
	Mar. 30, 2024	Apr. 01, 2023	Apr. 02, 2022
Schedule of Provision for Income Taxes and the Amount Computed by Applying the U.S. Statutory Income Tax Rate to Pre-Tax Income [Abstract]
Income taxes using U.S. federal statutory rate	$ 55.0	$ 44.0	$ 16.5
State income taxes, net of federal benefit	0.8	3.9	1.9
Stock-based compensation	(0.9)	(1.6)	(2.6)
Foreign rate differential	2.0	1.1	1.6
Research and development credits	(2.5)	(2.4)	(1.5)
Company-owned life insurance	(0.8)	0.3	0.0
Foreign derived intangible income (FDII)	(3.3)	(2.7)	(1.5)
U.S. unrecognized tax positions	1.5	(1.9)	5.4
Acquisition costs	0.0	0.0	1.7
Valuation allowance	(1.7)	0.0	2.3
Other - net	1.8	2.3	0.2
Provision for income taxes, Total	$ 51.9	$ 43.0	$ 24.0

Fair Value

12 Months Ended

Mar. 30, 2024

Fair Value [Abstract]

Fair Value

4. Fair Value

Fair value is defined as the price that would be expected to be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date (exit price). The FASB provides accounting rules that classify the inputs used to measure fair value into the following hierarchy:

Level 1 – Unadjusted quoted prices in active markets for identical assets or liabilities.

Level 2 – Unadjusted quoted prices in active markets for similar assets or liabilities, or unadjusted quoted prices for identical or similar assets or liabilities in markets that are not active, or inputs other than quoted prices that are observable for the asset or liability.

Level 3 – Unobservable inputs for the asset or liability.

Financial assets and liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measurement.

As a result of the occurrence of triggering events such as purchase accounting for acquisitions, the Company measures certain assets and liabilities based on Level 3 inputs.

Recurring Fair Value Measurements

The Company’s financial instruments consist primarily of cash and cash equivalents, accounts receivable, trade accounts payable, short-term borrowings, long-term debt, and a derivative in the form of an interest rate swap. Due to their short-term nature, the carrying value of cash and cash equivalents, accounts receivable, trade accounts payable, accrued expenses and short-term borrowings are a reasonable estimate of their fair value. Long-term assets held on our balance sheets related to benefit plan obligations are measured at fair value. The fair value of the Company’s long-term fixed-rate debt, based on quoted market prices, was $456.8 and $450.0 at March 30, 2024 and April 1, 2023, respectively. The carrying value of this debt was $494.2 at March 30, 2024 and $493.3 at April 1, 2023. The fair value of long-term fixed-rate debt was measured using Level 1 inputs. Due to the nature of fair value calculations for variable-rate debt, the carrying value of the Company’s long-term variable-rate debt is a reasonable estimate of its fair value. The fair value of the interest rate swap was $1.6 and $2.8 at March 30, 2024 and April 1, 2023, respectively, and was measured using Level 2 inputs. This amount is included in other noncurrent liabilities on the Company’s consolidated balance sheets. The interest rate swap, net of taxes, had accumulated other comprehensive income of $1.2 and accumulated other comprehensive loss of $2.2 as of March 30, 2024 and April 1, 2023 and was included in accumulated other comprehensive income/(loss) on the Company’s consolidated balance sheets, and in the Company’s consolidated statements of comprehensive income.

The Company does not believe it has significant concentrations of risk associated with the counterparties to its financial instruments.

- 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

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 107
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482078/820-10-55-107

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 820
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-Name Accounting Standards Codification
-Section 55
-Paragraph 100
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482078/820-10-55-100

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
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-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(3)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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-Paragraph 6A
-Subparagraph (a)
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-URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2E

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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
-Section 50
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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Reference 11: http://www.xbrl.org/2003/role/disclosureRef
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Reference 12: http://www.xbrl.org/2003/role/disclosureRef
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-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478119/940-820-50-1

+ Details

Consolidated Statements of Comprehensive Income - USD ($)
$ in Millions

12 Months Ended

Mar. 30, 2024

Apr. 01, 2023

Apr. 02, 2022

Statement of Comprehensive Income [Abstract]

Net income

$ 209.9

$ 166.7

$ 54.7

Pension and postretirement liability adjustments, net of taxes

^[1]

0.4

9.4

4.2

Change in fair value of derivatives, net of taxes

^[2]

3.4

(2.2)

Foreign currency translation adjustments

1.0

(5.5)

0.4

Total comprehensive income

$ 214.7

$ 168.4

$ 59.3

[1]	These adjustments were net of tax expense of $0.4, tax expense of $2.0 and tax expense of $1.1 in fiscal 2024, 2023 and 2022, respectively.
[2]	These adjustments were net of tax expense of $1.0 and net of tax benefit of $0.6 in fiscal 2024 and fiscal 2023, respectively.

- Definition

Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income and other comprehensive income, attributable to parent entity. Excludes changes in equity resulting from investments by owners and distributions to owners.

+ References + Details

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

+ Details

Related Party Transactions (Details) $ in Millions	12 Months Ended
Related Party Transactions (Details) $ in Millions	Mar. 30, 2024 USD ($)	Apr. 01, 2023 USD ($)	Apr. 02, 2022 USD ($)
Related Party Transactions [Line Items]
Number of equity members	5
Outstanding amounts payables	$ 0.7	$ 1.8
CoLinx [Member]
Related Party Transactions [Line Items]
Total expenses	$ 18.5	$ 18.4	$ 7.2

Revenue from Contracts with Customers (Details) - Schedule of Percentage Revenue Recognized for Performance Obligations Satisfied Over Time Versus the Amount of Revenue Recognized	12 Months Ended
	Mar. 30, 2024	Apr. 01, 2023	Apr. 02, 2022
Schedule of Percentage Revenue Recognized for Performance Obligations Satisfied Over Time Versus the Amount of Revenue Recognized [Line Items]
Percentage of revenue	100.00%	100.00%	100.00%
Point-in-time [Member]
Schedule of Percentage Revenue Recognized for Performance Obligations Satisfied Over Time Versus the Amount of Revenue Recognized [Line Items]
Percentage of revenue	98.00%	98.00%	97.00%
Over time [Member]
Schedule of Percentage Revenue Recognized for Performance Obligations Satisfied Over Time Versus the Amount of Revenue Recognized [Line Items]
Percentage of revenue	2.00%	2.00%	3.00%

Allowance for Doubtful Accounts

12 Months Ended

Mar. 30, 2024

Allowance for Doubtful Accounts [Abstract]

Allowance for Doubtful Accounts

5. Allowance for Doubtful Accounts

The activity in the allowance for doubtful accounts consists of the following:

Fiscal Year Ended	Balance at Beginning of Year		Additions		Other*			Write-offs			Balance at End of Year
March 30, 2024	$	3.7	$	0.2	$	0.5		$	—		$	4.4
April 1, 2023	$	2.7	$	0.8	$	0.4		$	(0.2	)	$	3.7
April 2, 2022	$	1.8	$	1.4	$	(0.1	)	$	(0.4	)	$	2.7

Foreign currency, price discrepancies, customer returns, disposition and acquisition transactions.

Income Taxes (Details) - USD ($) $ in Millions	12 Months Ended
Income Taxes (Details) - USD ($) $ in Millions	Mar. 30, 2024	Apr. 01, 2023	Apr. 02, 2022
Income Taxes [Line Items]
Decrease in valuation allowance	$ 1.5	$ 0.2
State net operating loss carryovers	$ 5.3
Expiration of state net operating loss carryovers	various dates through 2036
Undistributed foreign earnings	$ 71.9
Recognized benefit on interest and penalties	0.3
Recognized expenses on interest and penalties		0.1	$ 0.1
Accrued interest and penalties	1.2	$ 1.5
Decrease in federal and state credits and state tax	$ 1.9
Foreign Tax Jurisdiction [Member]
Income Taxes [Line Items]
Expiration of state net operating loss carryovers	various dates through fiscal 2028
Foreign net operating loss carryovers	$ 2.7
US Federal And State [Member]
Income Taxes [Line Items]
Expiration of state net operating loss carryovers	various dates through 2038
U.S. federal and state credits	$ 11.0
Canadian Investment [Member]
Income Taxes [Line Items]
Expiration of state net operating loss carryovers	various dates through 2038
Investment tax credits	$ 0.2

Income Taxes (Details) - Schedule of Income Before Income Taxes for the Company’s Domestic and Foreign Operations - USD ($) $ in Millions	12 Months Ended
	Mar. 30, 2024	Apr. 01, 2023	Apr. 02, 2022
Schedule of Income Before Income Taxes for the Company’s Domestic and Foreign Operations [Line Items]
Total income before income taxes	$ 261.8	$ 209.7	$ 78.7
Domestic [Member]
Schedule of Income Before Income Taxes for the Company’s Domestic and Foreign Operations [Line Items]
Total income before income taxes	240.8	191.0	68.8
Foreign [Member]
Schedule of Income Before Income Taxes for the Company’s Domestic and Foreign Operations [Line Items]
Total income before income taxes	$ 21.0	$ 18.7	$ 9.9

- 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/2009/role/commonPracticeRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-22

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 280
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-Name Accounting Standards Codification
-Section 55
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-URI https://asc.fasb.org/1943274/2147482785/280-10-55-48

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 280
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-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-32

Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef
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-Section 50
-Paragraph 30
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-URI https://asc.fasb.org/1943274/2147482810/280-10-50-30

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-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (i)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482964/270-10-50-1

Reference 6: http://www.xbrl.org/2009/role/commonPracticeRef
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-Name Accounting Standards Codification
-Section 50
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-URI https://asc.fasb.org/1943274/2147482810/280-10-50-32

Reference 7: http://fasb.org/us-gaap/role/ref/otherTransitionRef
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-Name Accounting Standards Codification
-Section 50
-Paragraph 32
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-URI https://asc.fasb.org/1943274/2147482810/280-10-50-32

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(11))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477250/944-220-S99-1

Reference 9: http://www.xbrl.org/2003/role/exampleRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
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-URI https://asc.fasb.org/1943274/2147482810/280-10-50-31

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
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-Paragraph 1
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Reference 12: http://fasb.org/us-gaap/role/ref/legacyRef
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-Name Accounting Standards Codification
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-Paragraph 1
-Subparagraph (SX 210.9-04(15))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478524/942-220-S99-1

+ Details

Property, Plant and Equipment (Details) - Schedule of Property, Plant and Equipment - USD ($) $ in Millions	Mar. 30, 2024	Apr. 01, 2023
Schedule Of Property Plant And Equipment Abstract
Land	$ 25.2	$ 25.2
Buildings and improvements	175.0	174.3
Machinery and equipment	497.8	472.8
Property, Plant and Equipment, Gross	698.0	672.3
Less: accumulated depreciation	(337.0)	(297.0)
Property, plant and equipment, net	$ 361.0	$ 375.3

Summary of Significant Accounting Policies (Tables)

12 Months Ended

Mar. 30, 2024

Significant Accounting Policies [Abstract]

Schedule of Estimated Useful lives of the Company’s property, plant and equipment

The estimated useful lives of the Company’s property, plant and equipment are as follows:

Buildings and improvements	20-30 years
Machinery and equipment	3-15 years
Leasehold improvements	Shorter of the term of lease or estimated useful life

Schedule of Weighted-average Shares Outstanding for Each Period Presented as Well as the Computation of Basic and Diluted Net Income Per Share Attributable to Common Stockholders

The table below reflects the calculation of weighted-average shares outstanding for each period presented as well as the computation of basic and diluted net income per share attributable to common stockholders.

	Fiscal Year Ended
	March 30, 2024		April 1, 2023		April 2, 2022
Net income	$	209.9	$	166.7	$	54.7
Preferred stock dividends		23.0		22.9		12.0
Net income attributable to common stockholders	$	186.9	$	143.8	$	42.7

Denominator:
Denominator for basic net income per share attributable to common stockholders — weighted-average shares outstanding		28,917,008		28,764,092		26,946,355
Effect of dilution due to employee stock awards		272,048		308,337		364,674
Denominator for diluted net income per share attributable to common stockholders — weighted-average shares outstanding		29,189,056		29,072,429		27,311,029
Basic net income per share attributable to common stockholders	$	6.47	$	5.00	$	1.58
Diluted net income per share attributable to common stockholders	$	6.41	$	4.94	$	1.56

Scjedule of Activity within Each Component of Accumulated Other Comprehensive Income (Loss), net of Taxes

The following summarizes the activity within each component of accumulated other comprehensive income (loss), net of taxes:

	Currency Translation			Change in Fair Value of Derivatives			Pension and Postretirement Liability		Total
Balance at April 1, 2023	$	(4.6	)	$	(2.2	)	$	2.7	$	(4.1	)
Reclassification to net income		—			4.2			—		4.2
Net loss on foreign currency translation		1.0			—			—		1.0
Amortization of net gain, net of tax expense of $0.4		—			—			0.4		0.4
Gain on derivative instrument, net of tax expense of $0.9		—			(0.8	)		—		(0.8	)
Net current period other comprehensive income		1.0			3.4			0.4		4.8
Balance at March 30, 2024	$	(3.6	)	$	1.2		$	3.1	$	0.7

Stockholders’ Equity (Details) - USD ($) $ / shares in Units, $ in Millions					12 Months Ended
	Jan. 15, 2024	Oct. 16, 2023	Jul. 17, 2023	Apr. 17, 2023	Mar. 30, 2024	Apr. 01, 2023	Apr. 02, 2022
Stockholders’ Equity (Details) [Line Items]
Preferred stock authorized (in Shares)					10,000,000	10,000,000
Preferred stock par value (in Dollars per share)					$ 0.01	$ 0.01
MCPS cumulative dividends annual rate					5.00%
Liquidation preference per share (in Dollars per share)					$ 100
Dividend payments	$ 5.7	$ 5.8	$ 5.8	$ 5.7
Accrued dividends					$ 4.8
Aggregate liquidation preference					$ 464.8
Common stock authorized (in Shares)					60,000,000	60,000,000
Common stock par value (in Dollars per share)					$ 0.01	$ 0.01
Shares of common stock were authorized for issuance (in Shares)					1,500,000
2017 Equity Plan [Member]
Stockholders’ Equity (Details) [Line Items]
Shares of common stock were authorized for issuance (in Shares)					272,328
Outstanding options to purchase (in Shares)					497,620
Outstanding options to purchase exercisable (in Shares)					233,440
2021 Equity Plan [Member]
Stockholders’ Equity (Details) [Line Items]
Shares of common stock were authorized for issuance (in Shares)					1,500,000
Outstanding options to purchase (in Shares)					0
2013 Long-Term Incentive Plan [Member]
Stockholders’ Equity (Details) [Line Items]
Outstanding options to purchase (in Shares)					8,272
Outstanding options to purchase exercisable (in Shares)					8,272
Preferred Stock [Member]
Stockholders’ Equity (Details) [Line Items]
Public offering (in Shares)							4,600,000
Shares outstanding (in Shares)					4,600,000	4,600,000	4,600,000
Stock Appreciation Rights (SARs) [Member]
Stockholders’ Equity (Details) [Line Items]
Share issued (in Shares)
Shares outstanding (in Shares)
Preferred Stock [Member]
Stockholders’ Equity (Details) [Line Items]
Net proceeds					$ 445.3
Liquidation, description					In the event of our voluntary or involuntary liquidation, winding-up or dissolution, no distribution of our assets may be made to holders of our common stock until we have paid holders of MCPS, each of which will be entitled to receive a liquidation preference in the amount of $100 per share plus accumulated and unpaid dividends.
Preferred stock conversion, description					Unless earlier converted or redeemed, each share of MCPS will automatically convert, for settlement on or about October 15, 2024, into between 0.4413 and 0.5405 shares of common stock, subject to customary anti-dilution adjustments.
Series A Mandatory Convertible Preferred Stock [Member]
Stockholders’ Equity (Details) [Line Items]
Liquidation preference per share (in Dollars per share)					$ 100
Common Stock [Member]
Stockholders’ Equity (Details) [Line Items]
Net proceeds							$ 605.5
Offering shares (in Shares)							3,450,000
Offering price per share (in Dollars per share)							$ 185
Option Awards [Member]
Stockholders’ Equity (Details) [Line Items]
Maximum option to purchase common stock, percentage					10.00%
Percentage of minimum fair value of common stock					100.00%
Weighted average fair value per share of options granted (in Dollars per share)					$ 99.92	$ 90.39	$ 76.65
Stock-based compensation, option awards					$ 2.6
Taxes on stock based compensation, option awards					0.8
Unrecognized compensation costs related to options					$ 9.9
Weighted average period					3 years 6 months
Total intrinsic value of options exercised					$ 22.9	$ 16.9	$ 11.9
Restrictive Stock [Member] \| Maximum [Member]
Stockholders’ Equity (Details) [Line Items]
Percentage of total authorized number of shares					50.00%
Restrictive Stock [Member] \| 2017 Equity Plan [Member]
Stockholders’ Equity (Details) [Line Items]
Restricted stock outstanding (in Shares)					173,445
Restrictive Stock [Member] \| 2021 Equity Plan [Member]
Stockholders’ Equity (Details) [Line Items]
Restricted stock outstanding (in Shares)					0
Restrictive Stock [Member] \| 2013 Long-Term Incentive Plan [Member]
Stockholders’ Equity (Details) [Line Items]
Restricted stock outstanding (in Shares)					0
Total Awards [Member]
Stockholders’ Equity (Details) [Line Items]
Total awards outstanding either fully vested or expected to vest (in Shares)					503,132
Total awards outstanding, vested or expected to vest, weighted average exercise price (in Dollars per share)					$ 171.19
Total awards outstanding, vested or expected to vest, intrinsic value					$ 49.9
Total awards outstanding, vested or expected to vest, weighted average contractual term in years					3 years 7 months 6 days
Restricted Stock Awards [Member]
Stockholders’ Equity (Details) [Line Items]
Weighted average fair value per share of options granted (in Dollars per share)					$ 205.5	$ 201.6	$ 198.04
Stock-based compensation, restricted stock awards					$ 8.9
Taxes on stock based compensation, restricted stock awards					2.6
Total fair value of restricted stock vested					19.2	$ 21.2	$ 22.1
Unrecognized compensation costs related to restricted stock					$ 18.9
Weighted average period					2 years 7 months 6 days
Liability Awards [Member]
Stockholders’ Equity (Details) [Line Items]
Weighted average period					3 years 1 month 6 days
Stock-based compensation, liability awards					$ 1.9
Taxes on stock based compensation, liability awards					0.6
Other noncurrent liabilities					2.0
Other current liabilities					0.5
Unrecognized compensation costs related to liability awards					9.2
Total intrinsic value of liability					$ 0.0	$ 0.0	$ 0.0

Consolidated Statements of Cash Flows - USD ($) $ in Millions	12 Months Ended
	Mar. 30, 2024	Apr. 01, 2023	Apr. 02, 2022
Cash flows from operating activities:
Net income	$ 209.9	$ 166.7	$ 54.7
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	119.3	115.4	65.5
Deferred income taxes	(12.3)	(21.4)	0.2
Amortization of deferred financing costs	3.0	7.2	18.9
Consolidation and restructuring and other non-cash charges	2.6	2.3	2.4
Noncash operating lease expense	6.8	7.2	5.8
Loss on extinguishment of debt			1.0
Stock-based compensation	17.4	14.0	32.9
Loss on disposition of assets	0.6	0.3	0.3
Changes in operating assets and liabilities, net of acquisitions:
Accounts receivable	(13.4)	7.8	(53.5)
Inventory	(31.6)	(71.7)	(16.2)
Prepaid expenses and other current assets	(2.4)	(5.8)	(1.8)
Other noncurrent assets	(3.0)	(0.8)	(8.2)
Accounts payable	(30.7)	(11.1)	52.4
Accrued expenses and other current liabilities	9.0	6.0	22.1
Other noncurrent liabilities	(0.5)	4.5	3.8
Net cash provided by operating activities	274.7	220.6	180.3
Cash flows from investing activities:
Capital expenditures	(33.2)	(42.0)	(29.8)
Acquisition of businesses and related purchase price adjustments	(19.3)	27.5	(2,908.2)
Purchase of marketable securities			(30.0)
Proceeds from sale of marketable securities			120.5
Proceeds from sale of assets	0.3	0.5	0.0
Net cash used in investing activities	(52.2)	(14.0)	(2,847.5)
Cash flows from financing activities:
Proceeds from issuance of common stock, net of issuance costs			605.5
Proceeds from issuance of preferred stock, net of issuance costs			445.3
Proceeds from term loans, net of financing costs			1,285.8
Proceeds from senior notes, net of financing costs			494.2
Proceeds from revolving credit facilities	20.3
Finance fees paid in connection with credit facilities and senior notes		(0.1)	(19.5)
Repayments of term loans	(225.0)	(300.0)	(113.0)
Repayments of notes payable	(1.6)	(0.5)	(0.5)
Principal payments on finance lease obligations	(3.6)	(3.2)	(1.6)
Preferred stock dividends paid	(23.0)	(22.9)	(7.1)
Repurchase of common stock	(11.0)	(7.7)	(8.6)
Proceeds from exercise of equity awards	20.4	11.6	18.0
Net cash provided by/(used in) financing activities	(223.5)	(322.8)	2,698.5
Effect of exchange rate changes on cash	(0.9)	(1.3)	0.5
Cash and cash equivalents:
(Decrease)/increase during the year	(1.9)	(117.5)	31.8
Cash and cash equivalents, at beginning of year	65.4	182.9	151.1
Cash and cash equivalents, at end of year	63.5	65.4	182.9
Supplemental disclosures of cash flow information:
Income taxes	56.4	60.4	17.1
Interest	$ 75.7	$ 69.9	$ 11.6

Leases (Tables)

12 Months Ended

Mar. 30, 2024

Leases [Abstract]

Schedule of Leasing on the Consolidated Balance Sheets

The following table represents the impact of leasing on the consolidated balance sheets:

	Balance Sheet Classification	March 30, 2024		April 1, 2023
Assets:
Operating lease assets, net	Operating lease assets, net	$	41.4	$	41.4
Finance lease right of use assets, net	Property, plant and equipment, net		49.4		52.2
Total leased assets, net		$	90.8	$	93.6

Liabilities:
Current operating lease liabilities	Current operating lease liabilities	$	7.0	$	7.6
Current finance lease liabilities	Accrued expenses and other current liabilities		5.7		5.2
Noncurrent operating lease liabilities	Noncurrent operating lease liabilities		35.3		33.9
Noncurrent finance lease liabilities	Other noncurrent liabilities		46.7		48.5
Total lease liabilities		$	94.7	$	95.2

Schedule of Undiscounted Lease Payments for the Remaining Lease Terms

Future undiscounted lease payments for the remaining lease terms as of March 30, 2024, including renewal options reasonably certain of being exercised, are as follows:

	Operating Leases			Finance Leases
Within one year	$	7.1		$	5.8
One to two years		6.5			5.7
Two to three years		6.5			5.1
Three to four years		4.7			4.4
Four to five years		3.4			3.9
Thereafter		25.1			41.6
Total future undiscounted lease payments		53.3			66.5
Less: imputed interest		(11.0	)		(14.1	)
Total lease liabilities	$	42.3		$	52.4

Stockholders’ Equity (Tables)

12 Months Ended

Mar. 30, 2024

Stockholders' Equity Note [Abstract]

Schedule of Stock Options Outstanding

A summary of the status of the Company’s stock options outstanding as of March 30, 2024 and changes during the year then ended is presented below. All cashless exercises of options are handled through an independent broker.

	Number Of Common Stock Options			Weighted Average Exercise Price Per Share		Weighted Average Contractual Life (Years)		Intrinsic Value
Outstanding, April 1, 2023		623,635		$	153.95		3.7	$	49.2
Awarded		54,820			215.97
Exercised		(168,321	)		120.48
Forfeitures		(4,000	)		208.85
Expirations		(242	)		136.46
Outstanding, March 30, 2024		505,892		$	171.38		3.6	$	50.1

Exercisable, March 30, 2024		241,712		$	155.39		2.8	$	27.8

Schedule of Grant using the Black-Scholes Option Pricing Model

The fair value for the Company’s options was estimated at the date of grant using the Black-Scholes option pricing model with the following weighted-average assumptions, which are updated to reflect current expectations of the dividend yield, expected life, risk-free interest rate and using historical volatility to project expected volatility:

	Fiscal Year Ended
	March 30, 2024			April 1, 2023			April 2, 2022
Dividend yield		0.00	%		0.00	%		0.00	%
Expected weighted-average life (yrs.)		5.0			5.0			5.0
Risk-free interest rate		4.20	%		3.05	%		0.95	%
Expected volatility		46.71	%		45.57	%		43.43	%

Schedule of Restricted Stock Outstanding

A summary of the status of the Company’s restricted stock outstanding as of March 30, 2024 and the changes during the year then ended is presented below.

	Number Of Restricted Stock Shares			Weighted-Average Grant Date Fair Value
Non-vested, April 1, 2023		192,124		$	186.67
Granted		71,448			205.50
Vested		(87,854	)		177.26
Forfeitures		(2,273	)		194.19
Non-vested, March 30, 2024		173,445		$	199.09

Schedule of Liability Classified Awards Outstanding

A summary of the status of the Company’s liability classified awards outstanding as of March 30, 2024 and the changes during the year then ended is presented below.

	Intrinsic Value
Outstanding, April 1, 2023	$	—
Awarded		11.7
Vested		—
Cancelled		—
Change in fair value		—
Outstanding, March 30, 2024	$	11.7

Estimated liability as of March 30, 2024	$	2.5

Employee Benefit Plans

12 Months Ended

Mar. 30, 2024

Employee Benefit Plans [Abstract]

Employee Benefit Plans

15. Employee Benefit Plans

Noncontributory Defined Benefit Pension Plan

At March 30, 2024, the Company had one consolidated noncontributory defined benefit pension plan (the “Plan”) covering current and former union employees in its Heim division plant in Fairfield, Connecticut, its Precision Products subsidiary plant in Plymouth, Indiana and former union employees of the Tyson subsidiary in Glasgow, Kentucky and the Nice subsidiary in Kulpsville, Pennsylvania.

Plan assets are comprised primarily of equity and fixed income investments. As of March 30, 2024 and April 1, 2023, Plan assets were $9.1 and $8.7, respectively.

The fair value of the above investments was determined using quoted market prices of identical instruments. Therefore, the valuation inputs within the fair value hierarchy established by ASC 820 were classified as Level 1 of the valuation hierarchy.

Benefits under the Plan are not a function of employees’ salaries; thus, the accumulated benefit obligation equals the projected benefit obligation. At March 30, 2024 and April 1, 2023, the projected benefit obligation was $3.7 and $3.8, respectively.

The discount rates used in determining the funded status of the Plan as of March 30, 2024 and April 1, 2023 were 5.00% and 4.70%, respectively.

The funded status of the Plan and the amount recognized in the balance sheet at March 30, 2024 and April 1, 2023 were $5.4 and $4.9, respectively. These overfunded amounts are included within noncurrent assets on the consolidated balance sheets.

Net periodic benefit cost of the Plan for fiscal years 2024, 2023 and 2022 was $0.1, $0.2 and $0.0, respectively. The discount rate used to determine net periodic benefit cost for fiscal years 2024, 2023 and 2022 was 4.70%, 3.30% and 2.70%, respectively.

Foreign Pension Plans

Two of the Company’s foreign operations, Schaublin and Swiss Tool, sponsor pension plans for their approximately 163 and 34 employees, respectively, in conformance with Swiss pension law. The Schaublin plan is funded with an independent semi-autonomous collective provident foundation whereas the Swiss Tool plan is funded with a reputable Swiss insurer. The unfunded liabilities of these plans at March 30, 2024 and April 1, 2023 were $2.3 and $1.5, respectively, and recorded within other noncurrent liabilities on the consolidated balance sheets. For fiscal 2024, 2023 and 2022, net periodic benefit cost for these plans was $2.0, $1.8 and $1.7, respectively.

401(k) Plans

The Company has defined contribution plans under Section 401(k) of the Internal Revenue Code for all of its employees not covered by a collective bargaining agreement. Employer contributions under this plan, ranging from 10% - 100% of eligible amounts contributed by employees, amounted to $9.6, $8.6 and $4.6 in fiscal 2024, 2023 and 2022, respectively.

Supplemental Executive Retirement Plan

The Company maintains a non-qualified Supplemental Executive Retirement Plan (“SERP”) for a select group of senior management employees. The SERP allows eligible employees to elect to defer up to 75% of their current salary and up to 100% of bonus compensation. As of March 30, 2024 and April 1, 2023, the SERP assets were $33.0 and $28.6, respectively, and are included within other noncurrent assets on the consolidated balance sheets. As of March 30, 2024 and April 1, 2023, the SERP liabilities were $29.9 and $25.7, respectively, and are included within other noncurrent liabilities on the consolidated balance sheets.

Defined Benefit Health Care Plans

The Company, for the benefit of current and former union employees at its Heim, West Trenton, Plymouth and PIC facilities and former union employees of its Tyson and Nice subsidiaries, sponsors contributory defined benefit health care plans that provide postretirement medical and life insurance benefits to union employees who have attained certain age and/or service requirements while employed by the Company. The plans are unfunded and costs are paid as incurred. Postretirement benefit obligations were $2.2 and $2.4 at March 30, 2024 and April 1, 2023, respectively. Of these amounts, $0.2 is considered current and is included within accrued expenses and other current liabilities on the consolidated balance sheets as of both March 30, 2024 and April 1, 2023. The remainder of the balances are included in other noncurrent liabilities in the consolidated balance sheets. The Company also maintains a frozen defined benefit heath care plan for Dodge employees with postretirement benefit obligations of $5.8 and $6.3 at March 30, 2024 and April 1, 2023, respectively. Of these amounts, $0.8 were considered current at both March 30, 2024 and April 1, 2023. The amounts are included within the same balance sheet line items as other postretirement health care plans maintained by the Company.

- Definition

The entire disclosure for retirement benefits.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 70
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480794/715-70-50-1

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 17
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480482/715-20-55-17

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
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-Section 50
-Paragraph 1
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-URI https://asc.fasb.org/1943274/2147480506/715-20-50-1

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (d)(i)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480506/715-20-50-1

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
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Reference 11: http://www.xbrl.org/2003/role/disclosureRef
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Reference 12: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org/1943274/2147480506/715-20-50-1

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
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-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480126/715-20-S99-2

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 60
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480266/715-60-50-3

+ Details

Debt

12 Months Ended

Mar. 30, 2024

Debt [Abstract]

Debt

12. Debt

Domestic Credit Facility

The Credit Agreement, which was entered into in fiscal 2022, provides the Company with (a) the $1,300.0 Term Loan, which was used to fund a portion of the purchase price for the acquisition of Dodge and to pay related fees and expenses, and (b) the $500.0 Revolving Credit Facility. Debt issuance costs associated with the Credit Agreement totaled $14.9 and are being amortized over the life of the Credit Agreement.

Initially, amounts outstanding under the Facilities generally bore interest at either, at the Company’s option, (a) a base rate determined by reference to the higher of (i) Wells Fargo’s prime lending rate, (ii) the federal funds effective rate plus 1/2 of 1.00% and (iii) the one-month LIBOR rate plus 1.00% or (b) the LIBOR rate plus a specified margin, depending on the type of borrowing being made. The applicable margin was based on the Company’s consolidated ratio of total net debt to consolidated EBITDA (as defined within the Credit Agreement) from time to time. In December 2022, the Credit Agreement was amended to replace LIBOR with the secured overnight financing rate administered by the Federal Reserve Bank of New York (i.e., SOFR) so that borrowings under the Facilities denominated in U.S. dollars bear interest at a rate per annum equal to Term SOFR (as defined in the Credit Agreement) plus a credit spread adjustment of 0.10% plus a margin ranging from 0.75% to 2.00% depending on the Company’s consolidated ratio of total net debt to consolidated EBITDA. The Facilities are subject to a SOFR floor of 0.00%. As of March 30, 2024, the Company’s margin was 1.25% for SOFR loans, the commitment fee rate was 0.20%, and the letter of credit fee rate was 1.25%. A portion of the Term Loan is subject to a fixed-rate interest swap as discussed in Note 13.

The Term Loan matures in November 2026 and amortizes in quarterly installments with the balance payable on the maturity date. The Company can elect to prepay some or all of the outstanding balance from time to time without penalty, which will offset future quarterly amortization installments. Due to prepayments previously made, the required future principal payments on the Term Loan are $0 for fiscal 2025, $0 for fiscal 2026, and $675.0 for fiscal 2027. The Revolving Credit Facility expires in November 2026, at which time all amounts outstanding under the Revolving Credit Facility will be payable.

The Credit Agreement requires the Company to comply with various covenants, including the following financial covenants: (a) a maximum Total Net Leverage Ratio (as defined within the Credit Agreement) of 5.00:1.00, which maximum Total Net Leverage Ratio shall decrease during certain subsequent test periods as set forth in the Credit Agreement (provided that, no more than once during the term of the Facilities, such maximum ratio applicable at such time may be increased by the Company by 0.50:1.00 for a period of twelve (12) months after the consummation of a material acquisition); and (b) a minimum Interest Coverage Ratio of 2.00:1.00. As of March 30, 2024 the Company was in compliance with all debt covenants.

The Credit Agreement allows the Company to, among other things, make distributions to stockholders, repurchase its stock, incur other debt or liens, or acquire or dispose of assets provided that the Company complies with certain requirements and limitations of the Credit Agreement.

The Company’s domestic subsidiaries have guaranteed the Company’s obligations under the Credit Agreement, and the Company’s obligations and the domestic subsidiaries’ guaranty are secured by a pledge of substantially all of the assets of the Company and its domestic subsidiaries.

As of March 30, 2024, $675.0 was outstanding under the Term Loan, $3.7 of the Revolving Credit Facility was being utilized to provide letters of credit to secure the Company’s obligations relating to certain insurance programs, and $18.0 of the Revolving Credit Facility had been used to fund the purchase of the business assets of Specline, Inc. which is discussed in Note 9. The Company had the ability to borrow up to an additional $478.3 under the Revolving Credit Facility as of March 30, 2024.

Senior Notes

In fiscal 2022, RBCA issued $500.0 aggregate principal amount of Senior Notes. The net proceeds from the issuance of the Senior Notes were approximately $492.0, after deducting initial purchasers’ discounts and commissions and offering expenses, and were used to fund a portion of the cash purchase price for the acquisition of Dodge.

The Senior Notes were issued pursuant to the Indenture with Wilmington Trust, National Association, as trustee. The Indenture contains covenants limiting the ability of the Company to (i) incur additional indebtedness or guarantee indebtedness, (ii) declare or pay dividends, redeem stock or make other distributions to stockholders, (iii) make investments, (iv) create liens or use assets as security in other transactions, (v) merge or consolidate, or sell, transfer, lease or dispose of substantially all of its assets, (vi) enter into transactions with affiliates, and (vii) sell or transfer certain assets. These covenants contain various exceptions, limitations and qualifications. At any time that the Senior Notes are rated investment grade, certain of these covenants will be suspended.

The Senior Notes are guaranteed jointly and severally on a senior unsecured basis by RBC Bearings and certain of RBCA’s existing and future wholly-owned domestic subsidiaries that also guarantee the Credit Agreement.

Interest on the Senior Notes accrues at a rate of 4.375% and is payable semi–annually in cash in arrears on April 15 and October 15 of each year.

The Senior Notes will mature on October 15, 2029. The Company may redeem some or all of the Senior Notes at any time on or after October 15, 2024 at the redemption prices set forth in the Indenture, plus accrued and unpaid interest, if any, to, but excluding, the redemption date. The Company may also redeem up to 40% of the Senior Notes using the proceeds of certain equity offerings completed before October 15, 2024, at a redemption price equal to 104.375% of the principal amount thereof, plus accrued and unpaid interest, if any, to, but excluding, the redemption date. In addition, at any time prior to October 15, 2024, the Company may redeem some or all of the Senior Notes at a price equal to 100% of the principal amount, plus a “make–whole” premium, plus accrued and unpaid interest, if any, to, but excluding, the redemption date. If the Company sells certain of its assets or experiences specific kinds of changes in control, the Company must offer to purchase the Senior Notes.

Foreign Borrowing Arrangements

The Foreign Credit Line provides Schaublin SA with a CHF 5.0 (approximately $5.8 USD) credit line with Credit Suisse (Switzerland) Ltd. to provide future working capital, if necessary. As of March 30, 2024, $2.2 had been borrowed from the Foreign Credit Line and $0.1 was being utilized to provide a bank guarantee. Fees associated with the Foreign Credit Line are nominal.

The balances payable under all borrowing facilities are as follows:

	March 30, 2024			April 1, 2023
Revolver and term loan facilities	$	695.2		$	900.0
Senior notes		500.0			500.0
Debt issuance cost		(10.7	)		(13.7	)
Other		7.4			8.7
Total debt		1,191.9			1,395.0
Less: current portion		3.8			1.5
Long-term debt	$	1,188.1		$	1,393.5

- 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://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481544/470-10-50-6

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
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-Section 50
-Paragraph 6
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481544/470-10-50-6

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 405
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-Section 50
-Paragraph 1
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477092/405-40-50-1

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 405
-SubTopic 40
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477092/405-40-50-1

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 405
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-Name Accounting Standards Codification
-Section 50
-Paragraph 1
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477092/405-40-50-1

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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-Section 50
-Paragraph 1
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+ Details

Accounting Policies, by Policy (Policies)

12 Months Ended

Mar. 30, 2024

Significant Accounting Policies [Abstract]

General

General

The consolidated financial statements include the accounts of RBC Bearings Incorporated and its wholly-owned subsidiaries. All intercompany balances and transactions have been eliminated in consolidation.

The Company has a fiscal year consisting of 52 or 53 weeks, ending on the Saturday closest to March 31. Based on this policy, fiscal year 2024 contained 52 weeks, fiscal year 2023 contained 52 weeks and fiscal year 2022 contained 52 weeks.

Use of Estimates

Use of Estimates

The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, and disclosure of contingent assets and liabilities, at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Estimates are used for, but not limited to, the accounting for the allowance for doubtful accounts, valuation of inventories, goodwill and intangible assets, depreciation and amortization, income taxes and tax reserves, purchase price allocation for acquired assets and liabilities, and the valuation of options.

Revenue Recognition

Revenue Recognition

A contract with a customer exists when there is commitment and approval from both parties involved, the rights of the parties are identified, payment terms are defined, the contract has commercial substance, and collectability of consideration is probable. The Company has determined that the contract with the customer is established when the customer purchase order is accepted or acknowledged. LTAs are used by the Company and certain of its customers to reduce their supply uncertainty for a period of time, typically multiple years. While these LTAs define commercial terms including pricing, termination rights and other contractual requirements, they do not represent the contract with the customer for revenue recognition purposes.

When the Company accepts or acknowledges a customer purchase order, the type of good or service is defined on a line-by-line basis. The majority of the Company’s revenue relates to the sale of goods and contains a single performance obligation for each distinct good. The remainder of the Company’s revenue from customers is generated from services performed. These services include repair and refurbishment work performed on customer-controlled assets as well as design and test work.

Transaction price reflects the amount of consideration that the Company expects to be entitled to in exchange for transferred goods or services. A contract’s transaction price is allocated to each distinct performance obligation and revenue is recognized as the performance obligation is satisfied. The Company generally sells products and services with observable standalone selling prices.

The performance obligations for the majority of RBC’s product sales are satisfied at the point in time in which the products are shipped. The Company has determined that the customer obtains control upon shipment of the product based on the shipping terms (i.e. when it ships from RBC’s dock or when the product arrives at the customer’s dock) and recognizes revenue when control has transferred to the customer. Once a customer has obtained control, the customer is able to direct the use of, and obtain substantially all of the remaining benefits from, the asset.

The Company has determined performance obligations are satisfied over time for customer contracts where RBC provides services to customers and also for a limited number of product sales. RBC has determined revenue recognition over time is appropriate for our service revenue contracts as they create or enhance an asset that the customer controls throughout the duration of the contract. Revenue recognition over time is appropriate for customer contracts with product sales in which the product sold has no alternative use to RBC without significant economic loss and an enforceable right to payment exists, including a normal profit margin from the customer, in the event of contract termination. These types of contracts comprised less than 1% of total sales for the fiscal years ended March 30, 2024, April 1, 2023 and April 2, 2022, respectively. For both of these types of contracts, revenue is recognized over time based on the extent of progress towards completion of the performance obligation. The Company utilizes the cost-to-cost measure of progress for over-time revenue recognition contracts as the Company believes this measure best depicts the transfer of control to the customer, which occurs as the Company incurs costs on contracts. Revenues, including profits, are recorded proportionally as costs are incurred. Costs to fulfill include labor, materials, subcontractors’ costs, and other direct and indirect costs.

Contract costs are the incremental costs of obtaining and fulfilling a contract (i.e., costs that would not have been incurred if the contract had not been obtained) to provide goods and services to customers. Contract costs largely consist of design and development costs for molds, dies and other tools that RBC will own and that will be used in producing the products under the supply arrangements. These contract costs are amortized to expense on a systematic and rational basis over a period consistent with the transfer to the customer of the goods or services to which the asset relates and are recorded in cost of sales. Costs incurred to obtain a contract are primarily related to sales commissions and are expensed as incurred. These costs are included within selling, general and administrative costs on the consolidated statements of operations.

In certain contracts, the Company facilitates shipping and handling activities after control has transferred to the customer. The Company has elected to record all shipping and handling activities as costs to fulfill a contract. In situations where the shipping and handling costs have not been incurred at the time revenue is recognized, the estimated shipping and handling costs are accrued.

Government Assistance

Government Assistance

Like other companies involved in the aerospace industry that were impacted by the COVID-19 pandemic, the Company took part in the Aviation Manufacturing Jobs Protection (“AMJP”) program. The AMJP program provided funding to eligible businesses to pay a portion of their compensation costs for certain categories of employees for a period of time as part of a U.S. Department of Transportation program designed to maintain jobs in the aviation industry. During the fiscal years ended March 30, 2024, April 1, 2023 and April 2, 2022, the Company recorded grant revenue of $0.0, $3.1 and $4.4, respectively, all of which was recorded within cost of sales on the consolidated statements of operations. The Company does not expect to receive any future grant revenue associated with the AMJP program. The Company is not currently receiving grant revenue from any other sources and does not anticipate doing so in future periods.

Cash and Cash Equivalents

Cash and Cash Equivalents

The Company considers all highly liquid investments purchased with an original maturity of three months or less to be cash equivalents. The Company maintains its cash accounts with various banks and has not experienced any losses in such accounts.

Accounts Receivable, Net and Concentration of Credit Risk

Accounts Receivable, Net and Concentration of Credit Risk

Accounts receivable include amounts billed and currently due from customers. The amounts due are stated at their estimated net realizable value. The Company maintains an allowance for doubtful accounts for estimated losses resulting from the inability of its customers to make required payments. The Company uses an expected credit loss model to estimate the credit losses expected over the life of an exposure (or pool of exposures). The estimate of expected credit losses considers historical information, current information and reasonable and supportable forecasts, including estimates of prepayments. Financial instruments with similar risk characteristics are grouped together when estimating expected credit losses. The Company will write off accounts receivable after reasonable collection efforts have been made and the accounts are deemed uncollectible.

The Company sells to a large number of OEMs and distributors who service the aftermarket. The Company’s credit risk associated with accounts receivable is minimized due to its customer base and wide geographic dispersion. The Company performs ongoing credit evaluations of its customers’ financial condition and generally does not require collateral or charge interest on outstanding amounts. The Company had concentrations of credit risk with no individual customer greater than 10% as of March 30, 2024 or April 1, 2023 with the exception of Motion Industries. Approximately 16% and 15% of accounts receivable at both March 30, 2024 and April 1, 2023, respectively, were attributable to Motion Industries.

Inventory

Inventory

Inventory is stated at the lower of cost or net realizable value. Cost is determined by the first-in, first-out method. The Company accounts for inventory under a full absorption method, and records adjustments to the value of inventory based upon past sales history and forecasted plans to sell our inventories. The physical condition, including age and quality, of the inventories is also considered in establishing its valuation. These adjustments are estimates, which could vary significantly, either favorably or unfavorably, from actual requirements if future economic conditions, customer inventory levels or competitive conditions differ from our expectations.

Contract Assets (Unbilled Receivables)

Contract Assets (Unbilled Receivables)

Pursuant to the over-time revenue recognition model, revenue may be recognized prior to the customer being invoiced. An unbilled receivable is recorded to reflect revenue that is recognized when (1) the cost-to-cost method is applied and (2) such revenue exceeds the amount invoiced to the customer. Contract assets are included within prepaid expenses and other current assets or other noncurrent assets on the consolidated balance sheets.

Property, Plant and Equipment

Property, Plant and Equipment

Property, plant and equipment are recorded at cost. Depreciation and amortization of property, plant and equipment, is recorded using the straight-line method over the estimated useful lives of the respective assets. Depreciation of assets is reported within depreciation and amortization. Expenditures for normal maintenance and repairs are charged to expense as incurred.

The estimated useful lives of the Company’s property, plant and equipment are as follows:

Buildings and improvements	20-30 years
Machinery and equipment	3-15 years
Leasehold improvements	Shorter of the term of lease or estimated useful life

Leases

Leases

The Company determines if an arrangement is a lease at contract inception. For leases where the Company is the lessee, it recognizes lease assets and related lease liabilities at the lease commencement date based on the present value of lease payments over the lease term. The lease term is the noncancellable period for which a lessee has the right to use an underlying asset, including periods covered by an option to extend the lease if the lessee is reasonably certain to exercise that option and periods covered by an option to terminate the lease if the lessee is reasonably certain not to exercise that option. For renewal options, the Company performs an assessment at commencement if it is reasonably likely to exercise the option. The assessment is based on the Company’s intentions, past practices, estimates and factors that create an economic incentive for the Company. Generally, the Company is not reasonably certain to exercise the renewal option in a lease contract, with the exception of some of our leased manufacturing facilities. While some of the Company’s leases include options allowing early termination of the lease, the Company historically has not terminated its lease agreements early unless there is an economic, financial or business reason to do so; therefore, the Company does not typically consider the termination option in its lease term at commencement.

The Company must classify each lease as a finance lease or an operating lease. The Company’s finance leases are included in property, plant and equipment, net. Amortization of these assets is included in depreciation and amortization expense. The Company’s operating leases consist of rent commitments under various leases for office space, warehouses, land and buildings.

Most of the Company’s leases do not provide an implicit interest rate. As a result, the Company uses its incremental borrowing rate based on the information available at the commencement date in determining the present value of lease payments.

Subsequent to the initial measurement, the lease liability continues to be measured at the present value of unpaid lease payments throughout the lease term. The lease liability is remeasured if the lease is modified and the modification is not accounted for as a separate contract, there is a change in the assessment of the lease term, the assessment of a purchase option exercise or the amount probable of being owed under a residual value guarantee, or a contingency is resolved resulting in some or all of the variable lease payments becoming fixed payments. Subsequent to the initial measurement, the right-of-use asset for a finance lease is equivalent to the initial measurement less accumulated amortization and any accumulated impairment losses. Generally, amortization of finance leases is recorded to cost of sales on a straight-line basis over the lease term. Subsequent to initial measurement, the right-of-use asset for an operating lease is equivalent to initial measurement less accumulated amortization.

Goodwill and Indefinite-Lived Intangible Assets

Goodwill and Indefinite-Lived Intangible Assets

Goodwill (representing the excess of the amount paid to acquire a company over the estimated fair value of the net assets acquired) and indefinite-lived intangible assets are not amortized but instead are tested for impairment annually, or when events or circumstances indicate that the carrying value of such asset may not be recoverable. Separate tests are performed for goodwill and indefinite lived intangible assets. We completed a quantitative test of impairment on the indefinite lived intangible assets with no impairment noted in fiscal year 2024. The determination of any goodwill impairment is made at the reporting unit level. The Company determines the fair value of a reporting unit and compares it to its carrying amount. If the carrying amount of the reporting unit exceeds its fair value, an impairment loss is recognized for any amount by which the carrying amount exceeds the reporting unit’s fair value. The Company applies the income approach (discounted cash flow method) in testing goodwill for impairment. The key assumptions used in the discounted cash flow method used to estimate fair value include the discount rates, revenue growth rates and EBITDA margin which are affected by expectations about future market or economic conditions. Discount rates, revenue growth rates and EBITDA margin are the most sensitive and susceptible to change as they require significant management judgment. Discount rates are determined by using a weighted average cost of capital (“WACC”). The WACC considers market and industry data as well as Company-specific risk factors for each reporting unit in determining the appropriate discount rate to be used. The discount rate utilized for each reporting unit for our fiscal 2024 test was 10.0% and is indicative of the return an investor would expect to receive for investing in such a business. Terminal growth rate determination follows common methodology of capturing the present value of perpetual cash flow estimates beyond the last projected period assuming a constant WACC and long-term growth rates. The terminal growth rate used for our fiscal 2024 test was 2.5%. The Company has determined that, to date, no impairment of goodwill exists and fair value of the reporting units exceeded the carrying value in total by approximately 53.5%. The fair value of the reporting units exceeds the carrying value by a minimum of 18.8% at each of the two reporting units.

Contract Liabilities (Deferred Revenue)

Contract Liabilities (Deferred Revenue)

The Company may receive a customer advance or deposit prior to revenue being recognized. Since the performance obligations related to such advances may not have been satisfied, a contract liability is established. Contract liabilities are included within accrued expenses and other current liabilities or other noncurrent liabilities on the consolidated balance sheets until the respective revenue is recognized. Advance payments are not considered a significant financing component as the timing of the transfer of the related goods or services is at the discretion of the customer.

Income Taxes

Income Taxes

The Company accounts for income taxes using the liability method, which requires it to recognize a current tax liability or asset for current taxes payable or refundable and a deferred tax liability or asset for the estimated future tax effects of temporary differences between the financial statement and tax reporting bases of assets and liabilities to the extent that they are realizable. Deferred tax expense (benefit) results from the net change in deferred tax assets and liabilities during the year. A valuation allowance is recorded to reduce deferred tax assets to the amount that is more likely than not to be realized. The Company is exposed to certain tax contingencies in the ordinary course of business and records those tax liabilities in accordance with the guidance for accounting for uncertain tax positions.

Temporary differences relate primarily to the timing of deductions for depreciation, stock-based compensation, goodwill amortization relating to the acquisition of operating divisions, amortization of intangible assets, basis differences arising from acquisition accounting, pension and retirement benefits, and various accrued and prepaid expenses. Deferred tax assets and liabilities are recorded at the rates expected to be in effect when the temporary differences are expected to reverse.

Global Minimum Tax

In October 2021, the OECD announced an Inclusive Framework on Base Erosion and Profit Shifting including Pillar Two Model Rules defining the global minimum tax, which calls for the taxation of large multinational corporations at a minimum rate of 15%. Subsequently multiple sets of administrative guidance have been issued. Many non-US tax jurisdictions have either recently enacted legislation to adopt certain components of the Pillar Two Model Rules beginning in 2024 with the adoption of additional components in later years or announced their plans to enact legislation in future years. We are continuing to evaluate the impacts of enacted legislation and pending legislation to enact Pillar Two Model Rules in the non-US tax jurisdictions in which we operate.

Net Income Per Share Attributable to Common Stockholders

Net Income Per Share Attributable to Common Stockholders

Basic net income per share attributable to common stockholders is computed by dividing net income attributable to common stockholders by the weighted-average number of common shares outstanding.

Diluted net income per share attributable to common stockholders is computed by dividing net income attributable to common stockholders by the sum of the weighted-average number of common shares and dilutive common share equivalents then outstanding using the treasury stock method. Common share equivalents consist of the incremental common shares issuable upon the exercise of stock options and the conversion of MCPS (i.e., our outstanding preferred stock) to common shares.

We exclude outstanding stock options, stock awards and the MCPS from the calculations if the effect would be anti-dilutive. The dilutive effect of the MCPS is calculated using the if-converted method. The if-converted method assumes that these securities were converted to shares of common stock at the beginning of the reporting period to the extent that the effect is dilutive. If the effect is anti-dilutive, we calculate net income per share attributable to common stockholders by adjusting net income in the numerator for the effect of the cumulative MCPS dividends for the respective period.

For the fiscal years ended March 30, 2024 and April 1, 2023, the effect of assuming the conversion of the 4,600,000 shares of MCPS into shares of common stock was anti-dilutive, and therefore excluded from the calculation of diluted earnings per share attributable to common stockholders. Accordingly, net income was reduced by cumulative MCPS dividends, as presented in our consolidated statement of operations, for purposes of calculating net income attributable to common stockholders.

For the fiscal year ended March 30, 2024, 120,954 employee stock options and 250 restricted shares were excluded from the calculation of diluted earnings per share attributable to common stockholders. For the fiscal year ended April 1, 2023, 110,368 employee stock options and 1,185 restricted shares were excluded from the calculation of diluted earnings per share attributable to common stockholders. At April 2, 2022, 179,289 employee stock options and 325 restricted shares were excluded from the calculation of diluted earnings per share attributable to common stockholders. The inclusion of these employee stock options and restricted shares would have been anti-dilutive.

	Fiscal Year Ended
	March 30, 2024		April 1, 2023		April 2, 2022
Net income	$	209.9	$	166.7	$	54.7
Preferred stock dividends		23.0		22.9		12.0
Net income attributable to common stockholders	$	186.9	$	143.8	$	42.7

Denominator:
Denominator for basic net income per share attributable to common stockholders — weighted-average shares outstanding		28,917,008		28,764,092		26,946,355
Effect of dilution due to employee stock awards		272,048		308,337		364,674
Denominator for diluted net income per share attributable to common stockholders — weighted-average shares outstanding		29,189,056		29,072,429		27,311,029
Basic net income per share attributable to common stockholders	$	6.47	$	5.00	$	1.58
Diluted net income per share attributable to common stockholders	$	6.41	$	4.94	$	1.56

Impairment of Long-Lived Assets

Impairment of Long-Lived Assets

The Company assesses the net realizable value of its long-lived assets and evaluates such assets for impairment whenever indicators of impairment are present. For amortizable long-lived assets to be held and used, if indicators of impairment are present, management determines whether the sum of the estimated undiscounted future cash flows is less than the carrying amount. The amount of asset impairment, if any, is based on the excess of the carrying amount over its fair value, which is estimated based on projected discounted future operating cash flows using a discount rate reflecting the Company’s average cost of funds. During fiscal year 2024, impairment charges related to machinery and equipment and certain patents and trademarks totaling $2.5 were recorded based on our internal assessments performed.

Long-lived assets to be disposed of by sale or other means are reported at the lower of carrying amount or fair value, less costs to sell.

Foreign Currency Translation and Transactions

Foreign Currency Translation and Transactions

Assets and liabilities of the Company’s foreign operations are translated into U.S. dollars using the exchange rate in effect at the balance sheet date. Results of operations are translated using the average exchange rate prevailing throughout the period. The effects of exchange rate fluctuations on translating foreign currency assets and liabilities from their functional currencies to the reporting currency are included in accumulated other comprehensive income (loss), while gains and losses resulting from foreign currency transactions are included in other non-operating expense (income).

Research and Development

Research and Development

Costs are incurred in connection with efforts aimed at discovering and implementing new knowledge that is critical to developing new products, processes or services, significantly improving existing products or services, and developing new applications for existing products and services. Research and development costs for the creation of new and improved products, processes and services were approximately $33.0, $31.8 and $27.6, for fiscal years 2024, 2023 and 2022, respectively.

Fair Value Measurements

Fair Value Measurements

Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date (exit price). Inputs used to measure fair value are within a hierarchy consisting of three levels. Level 1 inputs represent unadjusted quoted prices in active markets for identical assets or liabilities. Level 2 inputs represent unadjusted quoted prices in active markets for similar assets or liabilities, or unadjusted quoted prices for identical or similar assets or liabilities in markets that are not active, or inputs other than quoted prices that are observable for the asset or liability. Level 3 inputs represent unobservable inputs for the asset or liability. Financial assets and liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measurement.

The carrying amounts reported in the balance sheet for cash and cash equivalents, accounts receivable, accounts payable and accruals, and other current liabilities approximate their fair value due to their short-term nature.

The carrying amounts of the Company’s borrowings under the Facilities approximate fair value, as these obligations have interest rates which vary in conjunction with current market conditions and have been classified as Level 2 in the valuation hierarchy. The Senior Notes are reported at carrying value on the consolidated balance sheets. The fair value of the Senior Notes as of March 30, 2024 was $456.8 and was computed based on quoted market prices (observable inputs) and classified as Level 1 of the fair value hierarchy. The fair value of the interest rate swap was $1.6 at March 30, 2024, measured using Level 2 inputs. This amount is included in other noncurrent liabilities on the Company consolidated balance sheets. The fair value of the interest rate swap remaining in accumulated other comprehensive income, net of taxes, was $1.2 as of March 30, 2024.

Accumulated Other Comprehensive Income (Loss)

Accumulated Other Comprehensive Income (Loss)

The components of comprehensive income (loss) that relate to the Company are net income, foreign currency translation adjustments and pension plan and postretirement benefits, all of which are presented in the consolidated statements of stockholders’ equity and comprehensive income (loss).

The following summarizes the activity within each component of accumulated other comprehensive income (loss), net of taxes:

	Currency Translation			Change in Fair Value of Derivatives			Pension and Postretirement Liability		Total
Balance at April 1, 2023	$	(4.6	)	$	(2.2	)	$	2.7	$	(4.1	)
Reclassification to net income		—			4.2			—		4.2
Net loss on foreign currency translation		1.0			—			—		1.0
Amortization of net gain, net of tax expense of $0.4		—			—			0.4		0.4
Gain on derivative instrument, net of tax expense of $0.9		—			(0.8	)		—		(0.8	)
Net current period other comprehensive income		1.0			3.4			0.4		4.8
Balance at March 30, 2024	$	(3.6	)	$	1.2		$	3.1	$	0.7

Stock-Based Compensation

Stock-Based Compensation

The Company recognizes stock-based compensation cost relating to all stock-based payment transactions in the financial statements based upon the grant-date fair value of the instruments issued over the requisite service period. The fair value of each option grant was estimated on the date of grant using the Black-Scholes pricing model. The Company estimates expected forfeitures at the grant date and recognizes stock-based compensation costs, accordingly. The Company also recognizes stock-based compensation cost relating to restricted stock awards that are earned by employees prior to being granted as liability awards.

Recent Accounting Pronouncements

Recent Accounting Pronouncements

In November 2023, Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures. The amendments in ASU 2023-07 improve the disclosures about a public entity’s reportable segments and address requests from investors for additional, more detailed information about a reportable segment’s expenses. Following the release of ASU 2023-07 in November 2023, the effective date will be annual reporting periods beginning after December 15, 2024. As of March 30, 2024, the Company is evaluating the impact on its consolidated financial statements.

In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures. The amendments in ASU 2023-09 address investor requests for more transparency about income tax information through improvements to income tax disclosures primarily related to the rate reconciliation and income taxes paid information. Following the release of ASU 2023-09 in December 2023, the effective date will be annual reporting periods beginning after December 15, 2024. As of March 30, 2024, the Company is evaluating the impact on its consolidated financial statements.

Other new pronouncements issued but not effective until after March 30, 2024 are not expected to have a material impact on our financial position, results of operations or liquidity.

Summary of Significant Accounting Policies

12 Months Ended

Mar. 30, 2024

Significant Accounting Policies [Abstract]

Summary of Significant Accounting Policies

2. Summary of Significant Accounting Policies

General

Use of Estimates

Revenue Recognition

Government Assistance

Cash and Cash Equivalents

Accounts Receivable, Net and Concentration of Credit Risk

Inventory

Contract Assets (Unbilled Receivables)

Property, Plant and Equipment

The estimated useful lives of the Company’s property, plant and equipment are as follows:

Buildings and improvements	20-30 years
Machinery and equipment	3-15 years
Leasehold improvements	Shorter of the term of lease or estimated useful life

Leases

Goodwill and Indefinite-Lived Intangible Assets

Contract Liabilities (Deferred Revenue)

Income Taxes

Global Minimum Tax

Net Income Per Share Attributable to Common Stockholders

Basic net income per share attributable to common stockholders is computed by dividing net income attributable to common stockholders by the weighted-average number of common shares outstanding.

	Fiscal Year Ended
	March 30, 2024		April 1, 2023		April 2, 2022
Net income	$	209.9	$	166.7	$	54.7
Preferred stock dividends		23.0		22.9		12.0
Net income attributable to common stockholders	$	186.9	$	143.8	$	42.7

Denominator:
Denominator for basic net income per share attributable to common stockholders — weighted-average shares outstanding		28,917,008		28,764,092		26,946,355
Effect of dilution due to employee stock awards		272,048		308,337		364,674
Denominator for diluted net income per share attributable to common stockholders — weighted-average shares outstanding		29,189,056		29,072,429		27,311,029
Basic net income per share attributable to common stockholders	$	6.47	$	5.00	$	1.58
Diluted net income per share attributable to common stockholders	$	6.41	$	4.94	$	1.56

Impairment of Long-Lived Assets

Long-lived assets to be disposed of by sale or other means are reported at the lower of carrying amount or fair value, less costs to sell.

Foreign Currency Translation and Transactions

Research and Development

Fair Value Measurements

Accumulated Other Comprehensive Income (Loss)

The following summarizes the activity within each component of accumulated other comprehensive income (loss), net of taxes:

	Currency Translation			Change in Fair Value of Derivatives			Pension and Postretirement Liability		Total
Balance at April 1, 2023	$	(4.6	)	$	(2.2	)	$	2.7	$	(4.1	)
Reclassification to net income		—			4.2			—		4.2
Net loss on foreign currency translation		1.0			—			—		1.0
Amortization of net gain, net of tax expense of $0.4		—			—			0.4		0.4
Gain on derivative instrument, net of tax expense of $0.9		—			(0.8	)		—		(0.8	)
Net current period other comprehensive income		1.0			3.4			0.4		4.8
Balance at March 30, 2024	$	(3.6	)	$	1.2		$	3.1	$	0.7

Stock-Based Compensation

Recent Accounting Pronouncements

Other new pronouncements issued but not effective until after March 30, 2024 are not expected to have a material impact on our financial position, results of operations or liquidity.

Accrued Expenses and Other Current Liabilities (Details) - Schedule of Accrued Expenses and Other Current Liabilities - USD ($) $ in Millions	Mar. 30, 2024	Apr. 01, 2023
Schedule of Accrued Expenses and Other Current Liabilities [Abstract]
Employee compensation and related benefits	$ 35.7	$ 34.7
Taxes	23.1	17.5
Contract liabilities	22.5	20.6
Accrued rebates	38.0	39.6
Workers compensation and insurance	0.4	0.8
Acquisition costs	0.1	0.6
Current finance lease liabilities	5.7	5.2
Accrued preferred stock dividends	4.8	4.9
Interest	10.4	10.6
Audit fees	0.3	0.3
Legal	1.3	1.6
Returns and warranties	9.2	7.5
Travel and expense costs	4.4	1.1
Other	11.4	8.4
Accrued expenses and other current liabilities	$ 167.3	$ 153.4

Other Noncurrent Liabilities (Tables)

12 Months Ended

Mar. 30, 2024

Other Noncurrent Liabilities [Abstract]

Schedule of Other Noncurrent Liabilities

The significant components of other noncurrent liabilities consist of:

	March 30, 2024		April 1, 2023
Other postretirement benefits	$	10.7	$	10.0
Noncurrent income tax liability		14.1		14.6
Deferred compensation		29.9		25.7
Contract liabilities		19.9		19.8
Noncurrent finance lease liabilities		46.7		48.5
Other		3.5		4.1
	$	124.8	$	122.7

Consolidated Balance Sheets (Parentheticals) - USD ($) $ in Millions	Mar. 30, 2024	Apr. 01, 2023
Statement of Financial Position [Abstract]
Accounts receivable, allowance for doubtful accounts (in Dollars)	$ 4.4	$ 3.7
Preferred stock, par value (in Dollars per share)	$ 0.01	$ 0.01
Preferred stock, authorized	10,000,000	10,000,000
Preferred stock, issued	4,600,000	4,600,000
Common stock, par value (in Dollars per share)	$ 0.01	$ 0.01
Common stock, authorized	60,000,000	60,000,000
Common stock, issued	30,227,444	29,989,948
Treasury stock, shares	1,015,053	966,398

Goodwill and Intangible Assets (Details) - Schedule of Intangible Assets - USD ($) $ in Millions	12 Months Ended
	Mar. 30, 2024	Apr. 01, 2023
Schedule of Intangible Assets [Line Items]
Gross Carrying Amount	$ 1,598.1	$ 1,589.9
Accumulated Amortization	$ 230.5	$ 161.3
Non-amortizable repair station certifications, Weighted Average Useful Lives	n/a	n/a
Non-amortizable repair station certifications, Gross Carrying Amount	$ 24.3	$ 24.3
Non-amortizable repair station certifications, Accumulated Amortization
Total, Weighted Average Useful Lives	24 years	24 years
Total, Gross Carrying Amount	$ 1,622.4	$ 1,614.2
Total, Accumulated Amortization	$ 230.5	$ 161.3
Product Approvals [Member]
Schedule of Intangible Assets [Line Items]
Weighted Average Useful Lives	24 years	24 years
Gross Carrying Amount	$ 50.7	$ 50.7
Accumulated Amortization	$ 20.3	$ 18.4
Customer Relationships and Lists [Member]
Schedule of Intangible Assets [Line Items]
Weighted Average Useful Lives	24 years	24 years
Gross Carrying Amount	$ 1,300.7	$ 1,293.7
Accumulated Amortization	$ 160.7	$ 106.5
Trade Names [Member]
Schedule of Intangible Assets [Line Items]
Weighted Average Useful Lives	25 years	25 years
Gross Carrying Amount	$ 217.2	$ 215.4
Accumulated Amortization	$ 32.5	$ 23.3
Patents and Trademarks [Member]
Schedule of Intangible Assets [Line Items]
Weighted Average Useful Lives	15 years	15 years
Gross Carrying Amount	$ 10.8	$ 13.4
Accumulated Amortization	$ 6.5	$ 7.2
Domain Names [Member]
Schedule of Intangible Assets [Line Items]
Weighted Average Useful Lives	10 years	10 years
Gross Carrying Amount	$ 0.4	$ 0.4
Accumulated Amortization	$ 0.4	$ 0.4
Internal-use Software [Member]
Schedule of Intangible Assets [Line Items]
Weighted Average Useful Lives	3 years	3 years
Gross Carrying Amount	$ 16.7	$ 15.2
Accumulated Amortization	$ 8.8	$ 4.4
Other [Member]
Schedule of Intangible Assets [Line Items]
Weighted Average Useful Lives	5 years	5 years
Gross Carrying Amount	$ 1.6	$ 1.1
Accumulated Amortization	$ 1.3	$ 1.1

Inventory (Details) - Schedule of Inventories - USD ($) $ in Millions	Mar. 30, 2024	Apr. 01, 2023
Schedule of Inventories [Abstract]
Raw materials	$ 138.1	$ 132.4
Work in process	137.9	132.5
Finished goods	346.8	322.3
Inventory net, total	$ 622.8	$ 587.2

Other Noncurrent Liabilities

12 Months Ended

Mar. 30, 2024

Other Noncurrent Liabilities [Abstract]

Other Noncurrent Liabilities

14. Other Noncurrent Liabilities

The significant components of other noncurrent liabilities consist of:

	March 30, 2024		April 1, 2023
Other postretirement benefits	$	10.7	$	10.0
Noncurrent income tax liability		14.1		14.6
Deferred compensation		29.9		25.7
Contract liabilities		19.9		19.8
Noncurrent finance lease liabilities		46.7		48.5
Other		3.5		4.1
	$	124.8	$	122.7

Accrued Expenses and Other Current Liabilities

12 Months Ended

Mar. 30, 2024

Accrued Expenses and Other Current Liabilities [Abstract]

Accrued Expenses and Other Current Liabilities

11. Accrued Expenses and Other Current Liabilities

The significant components of accrued expenses and other current liabilities are as follows:

	March 30, 2024		April 1, 2023
Employee compensation and related benefits	$	35.7	$	34.7
Taxes		23.1		17.5
Contract liabilities		22.5		20.6
Accrued rebates		38.0		39.6
Workers compensation and insurance		0.4		0.8
Acquisition costs		0.1		0.6
Current finance lease liabilities		5.7		5.2
Accrued preferred stock dividends		4.8		4.9
Interest		10.4		10.6
Audit fees		0.3		0.3
Legal		1.3		1.6
Returns and warranties		9.2		7.5
Travel and expense costs		4.4		1.1
Other		11.4		8.4
	$	167.3	$	153.4

Accrued Expenses and Other Current Liabilities (Tables)

12 Months Ended

Mar. 30, 2024

Accrued Expenses and Other Current Liabilities [Abstract]

Schedule of Accrued Expenses and Other Current Liabilities

The significant components of accrued expenses and other current liabilities are as follows:

	March 30, 2024		April 1, 2023
Employee compensation and related benefits	$	35.7	$	34.7
Taxes		23.1		17.5
Contract liabilities		22.5		20.6
Accrued rebates		38.0		39.6
Workers compensation and insurance		0.4		0.8
Acquisition costs		0.1		0.6
Current finance lease liabilities		5.7		5.2
Accrued preferred stock dividends		4.8		4.9
Interest		10.4		10.6
Audit fees		0.3		0.3
Legal		1.3		1.6
Returns and warranties		9.2		7.5
Travel and expense costs		4.4		1.1
Other		11.4		8.4
	$	167.3	$	153.4

Allowance for Doubtful Accounts (Tables)

12 Months Ended

Mar. 30, 2024

Allowance for Doubtful Accounts [Abstract]

Schedule of allowance for doubtful accounts

The activity in the allowance for doubtful accounts consists of the following:

Fiscal Year Ended	Balance at Beginning of Year		Additions		Other*			Write-offs			Balance at End of Year
March 30, 2024	$	3.7	$	0.2	$	0.5		$	—		$	4.4
April 1, 2023	$	2.7	$	0.8	$	0.4		$	(0.2	)	$	3.7
April 2, 2022	$	1.8	$	1.4	$	(0.1	)	$	(0.4	)	$	2.7

Foreign currency, price discrepancies, customer returns, disposition and acquisition transactions.

Organization and Business

12 Months Ended

Mar. 30, 2024

Organization and Business [Abstract]

Organization and Business

1. Organization and Business

RBC Bearings Incorporated, together with its subsidiaries, is an international manufacturer and marketer of highly engineered precision bearings, components and essential systems for the industrial, defense and aerospace industries, which are integral to the manufacture and operation of most machines, aircraft and mechanical systems, to reduce wear to moving parts, facilitate proper power transmission, reduce damage and energy loss caused by friction and control pressure and flow. The terms “we,” “us,” “our,” “RBC” and the “Company” mean RBC Bearings Incorporated and its subsidiaries, unless the context indicates another meaning. While we manufacture products in all major categories, we focus primarily on highly technical or regulated bearing products and engineered products for specialized markets that require sophisticated design, testing and manufacturing capabilities. We believe our unique expertise has enabled us to garner leading positions in many of the product markets in which we primarily compete. Over the past 19 years, we have broadened our end markets, products, customer base and geographic reach. We currently have 54 facilities in 11 countries, of which 38 are manufacturing facilities.

The Company operates in two reportable business segments—aerospace/defense and industrial—in which it manufactures roller bearing components and assembled parts and designs and manufactures high-precision roller and ball bearings. The Company sells to a wide variety of original equipment manufacturers (“OEMs”) and distributors who are widely dispersed geographically. No one customer accounted for more than 17% of the Company’s net sales in fiscal 2024, 16% of net sales in fiscal 2023 and 11% of net sales in fiscal 2022. The Company’s segments are further discussed in Note 20.

Reportable Segments

12 Months Ended

Mar. 30, 2024

Reportable Segments [Abstract]

Reportable Segments

20. Reportable Segments

The Company operates through operating segments and reports its financial results based on how its chief operating decision maker makes operating decisions, assesses the performance of the business, and allocates resources. Our operating segments are our reportable segments. These reportable segments are Aerospace/Defense and Industrial and are described below.

Aerospace/Defense. This segment represents the end markets for the Company’s highly engineered bearings and precision components used in commercial aerospace, defense aerospace, and sea and ground defense applications.

Industrial. This segment represents the end markets for the Company’s highly engineered bearings and precision components used in various industrial applications including: power transmission; construction, mining, energy and specialized equipment manufacturing; semiconductor production equipment manufacturing; agricultural machinery, commercial truck and automotive manufacturing; and tool holding.

The accounting policies of the reportable segments are the same as those described in Note 2. Segment performance is evaluated based on segment net sales and gross margin. Items not allocated to segment operating income include corporate administrative expenses and certain other amounts. Where not separately disclosed, corporate costs are allocated to each segment. Identifiable assets by reportable segment consist of those directly identified with the segment’s operations.

	Fiscal Year Ended
	March 30, 2024			April 1, 2023			April 2, 2022
Net External Sales
Aerospace/Defense	$	519.4		$	430.3		$	381.5
Industrial		1,040.9			1,039.0			561.4
	$	1,560.3		$	1,469.3		$	942.9

Gross Margin
Aerospace/Defense	$	208.8		$	171.0		$	155.1
Industrial		461.7			433.8			202.0
	$	670.5		$	604.8		$	357.1

Selling, General and Administrative Expenses
Aerospace/Defense	$	37.8		$	31.1		$	29.0
Industrial		132.8			122.5			58.6
Corporate		82.9			76.1			80.0
	$	253.5		$	229.7		$	167.6

Operating Income
Aerospace/Defense	$	161.7		$	132.7		$	117.8
Industrial		272.6			236.5			107.5
Corporate		(92.1	)		(76.2	)		(104.2	)
	$	342.2		$	293.0		$	121.1

Total Assets
Aerospace/Defense	$	798.6		$	749.8		$	776.5
Industrial		3,779.6			3,845.7			3,920.9
Corporate		100.4			94.9			148.0
	$	4,678.6		$	4,690.4		$	4,845.4

Capital Expenditures
Aerospace/Defense	$	10.6		$	9.5		$	7.5
Industrial		20.4			29.1			19.3
Corporate		2.2			3.4			3.0
	$	33.2		$	42.0		$	29.8

Depreciation & Amortization
Aerospace/Defense	$	19.6		$	18.6		$	19.1
Industrial		96.3			93.4			43.1
Corporate		3.4			3.4			3.3
	$	119.3		$	115.4		$	65.5

Geographic External Sales
Domestic	$	1,375.4		$	1,292.9		$	833.4
Foreign		184.9			176.4			109.5
	$	1,560.3		$	1,469.3		$	942.9

Geographic Long-Lived Assets
Domestic	$	341.5		$	360.7		$	373.0
Foreign		60.9			56.0			58.2
	$	402.4		$	416.7		$	431.2

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

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+ Details

Stockholders’ Equity (Details) - Schedule of Stock Options Outstanding		12 Months Ended
	Apr. 01, 2023 USD ($) $ / shares shares	Mar. 30, 2024 USD ($) $ / shares shares
Schedule of Stock Options Outstanding [Abstract]
Number of Common Stock Options, Outstanding \| shares	623,635	505,892
Weighted Average Exercise Price Per Share, Outstanding \| $ / shares	$ 153.95	$ 171.38
Weighted-average Remaining Contractual Term, Outstanding	3 years 8 months 12 days	3 years 7 months 6 days
Aggregate Intrinsic Value, Outstanding \| $	$ 49.2	$ 50.1
Number Of Common Stock Options, Outstanding, Exercisable, Ending Balance \| shares		241,712
Weighted Average Exercise Price Per Share, Outstanding, Exercisable, Ending Balance \| $ / shares		$ 155.39
Weighted-average Remaining Contractual Term, Exercisable, Ending , Ending Balance		2 years 9 months 18 days
Aggregate Intrinsic Value, Exercisable, Ending Balance \| $		$ 27.8
Number of Common Stock Options,Outstanding, Awarded \| shares		54,820
Weighted Average Exercise Price Per Share, Outstanding, Awarded \| $ / shares		$ 215.97
Number of Common Stock Options, Outstanding, Exercised \| shares		(168,321)
Weighted Average Exercise Price Per Share, Outstanding, Exercised \| $ / shares		$ 120.48
Number of Common Stock Options, Outstanding, Forfeitures \| shares		(4,000)
Weighted Average Exercise Price Per Share, Forfeitures \| $ / shares		$ 208.85
Number of Common Stock Options, Outstanding, Expirations \| shares		(242)
Weighted Average Exercise Price Per Share, Expirations \| $ / shares		$ 136.46

Specline Acquisition

12 Months Ended

Mar. 30, 2024

Specline Acquisition [Abstract]

Specline Acquisition

9. Specline Acquisition

On August 18, 2023, RBC acquired the business assets of Specline, Inc. (“Specline”) for $18.7. The Company accounted for the transaction as a business combination for accounting purposes. Specline, which is based in Carson City, Nevada, is a manufacturer of precision bearings for the commercial and defense aerospace markets. The preliminary purchase price allocation is as follows: $1.4 of accounts receivable, $4.0 of inventory, $1.5 of fixed assets, $0.8 of operating lease assets, $8.8 of intangible assets, $2.1 of earnout liability, and $0.8 of operating lease liabilities. Goodwill of $5.1 resulting from the purchase price allocation is not deductible for tax purposes and is subject to change pending a final valuation of the assets and liabilities. Specline is included in the Aerospace/Defense segment.

Audit Information	12 Months Ended
Audit Information	Mar. 30, 2024
Auditor [Table]
Auditor Name	Ernst & Young LLP
Auditor Firm ID	42
Auditor Location	Stamford, CT

Goodwill and Intangible Assets

12 Months Ended

Mar. 30, 2024

Goodwill and Intangible Assets [Abstract]

Goodwill and Intangible Assets

10. Goodwill and Intangible Assets

Goodwill

Goodwill balances, by segment, consist of the following:

	Aerospace/ Defense		Industrial			Total
April 2, 2022	$	194.1	$	1,708.0		$	1,902.1
Acquisition ⁽¹⁾		—		(28.7	)		(28.7	)
Translation adjustments		—		(3.6	)		(3.6	)
April 1, 2023	$	194.1	$	1,675.7		$	1,869.8
Acquisition ⁽²⁾		5.1		—			5.1
Translation adjustments		—		(0.0	)		(0.0	)
March 30, 2024	$	199.2	$	1,675.7		$	1,874.9

⁽¹⁾	Purchase price adjustments associated with the acquisition of Dodge Industrial.

⁽²⁾	Goodwill associated with the acquisition of Specline, Inc. discussed further in Note 9.

Intangible Assets

The table below summarizes the net book value and weighted average useful lives of our intangible assets.

	Weighted		March 30, 2024				April 1, 2023
	Average Useful Lives (Years)		Gross Carrying Amount		Accumulated Amortization		Gross Carrying Amount		Accumulated Amortization
Product approvals		24	$	50.7	$	20.3	$	50.7	$	18.4
Customer relationships and lists		24		1,300.7		160.7		1,293.7		106.5
Trade names		25		217.2		32.5		215.4		23.3
Patents and trademarks		15		10.8		6.5		13.4		7.2
Domain names		10		0.4		0.4		0.4		0.4
Internal-use software		3		16.7		8.8		15.2		4.4
Other		5		1.6		1.3		1.1		1.1
				1,598.1		230.5		1,589.9		161.3
Non-amortizable repair station certifications		n/a		24.3		—		24.3		—
Total		24	$	1,622.4	$	230.5	$	1,614.2	$	161.3

Amortization expense for definite-lived intangible assets during fiscal years 2024, 2023 and 2022 was $70.4, $69.1 and $34.7, respectively. Estimated amortization expense for the five succeeding fiscal years and thereafter is as follows:

2025	$	70.7
2026		67.8
2027		66.1
2028		65.3
2029		63.9
2030 and thereafter		1,033.8

Goodwill and Intangible Assets (Details) - USD ($) $ in Millions	12 Months Ended
	Mar. 30, 2024	Apr. 01, 2023	Apr. 02, 2022
Goodwill and Intangible Assets [Abstract]
Amortization expense	$ 70.4	$ 69.1	$ 34.7

Consolidated Statements of Operations - USD ($) $ in Millions	12 Months Ended
	Mar. 30, 2024	Apr. 01, 2023	Apr. 02, 2022
Income Statement [Abstract]
Net sales	$ 1,560.3	$ 1,469.3	$ 942.9
Cost of sales	889.8	864.5	585.8
Gross margin	670.5	604.8	357.1
Operating expenses:
Selling, general and administrative	253.5	229.7	167.6
Other, net	74.8	82.1	68.4
Total operating expenses	328.3	311.8	236.0
Operating income	342.2	293.0	121.1
Interest expense, net	78.7	76.7	41.5
Other non-operating expense	1.7	6.6	0.9
Income before income taxes	261.8	209.7	78.7
Provision for income taxes	51.9	43.0	24.0
Net income	209.9	166.7	54.7
Preferred stock dividends	23.0	22.9	12.0
Net income attributable to common stockholders	$ 186.9	$ 143.8	$ 42.7
Net income per common share attributable to common stockholders:
Basic (in Dollars per share)	$ 6.47	$ 5	$ 1.58
Diluted (in Dollars per share)	$ 6.41	$ 4.94	$ 1.56
Weighted average common shares:
Basic (in Shares)	28,917,008	28,764,092	26,946,355
Diluted (in Shares)	29,189,056	29,072,429	27,311,029

Cover - USD ($)	12 Months Ended
Cover - USD ($)	Mar. 30, 2024	May 10, 2024	Oct. 01, 2022
Document Information [Line Items]
Document Type	10-K
Document Annual Report	true
Document Transition Report	false
Document Financial Statement Error Correction [Flag]	false
Entity Interactive Data Current	Yes
ICFR Auditor Attestation Flag	false
Amendment Flag	false
Document Period End Date	Mar. 30, 2024
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	FY
Documents Incorporated by Reference [Text Block]	Portions of the registrant’s proxy statement to be filed within 120 days of the close of the registrant’s fiscal year in connection with the registrant’s Annual Meeting of Shareholders to be held September 5, 2024, are incorporated by reference into Part III of this Form 10-K.
Entity Information [Line Items]
Entity Registrant Name	RBC BEARINGS INCORPORATED
Entity Central Index Key	0001324948
Entity File Number	001-40840
Entity Tax Identification Number	95-4372080
Entity Incorporation, State or Country Code	DE
Current Fiscal Year End Date	--03-30
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Shell Company	false
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Public Float			$ 6,809,508,876
Entity Contact Personnel [Line Items]
Entity Address, Address Line One	One Tribology Center
Entity Address, City or Town	Oxford
Entity Address, State or Province	CT
Entity Address, Postal Zip Code	06478
Entity Phone Fax Numbers [Line Items]
City Area Code	(203)
Local Phone Number	267-7001
Entity Listings [Line Items]
Entity Common Stock, Shares Outstanding		29,211,612
Common Stock, par value $0.01 per share
Entity Listings [Line Items]
Title of 12(b) Security	Common Stock, par value $0.01 per share
Trading Symbol	RBC
Security Exchange Name	NYSE
5.00% Series A Mandatory Convertible Preferred Stock, par value $0.01 per share
Entity Listings [Line Items]
Title of 12(b) Security	5.00% Series A Mandatory Convertible Preferred Stock, par value $0.01 per share
Trading Symbol	RBCP
Security Exchange Name	NYSE

Revenue from Contracts with Customers (Details) - Schedule of Disaggregates Total Revenue by Reportable Segments - USD ($) $ in Millions	12 Months Ended
	Mar. 30, 2024	Apr. 01, 2023	Apr. 02, 2022
Schedule of Disaggregates Total Revenue by Reportable Segments [Line Items]
Net sales	$ 1,560.3	$ 1,469.3	$ 942.9
Aerospace/Defense [Member]
Schedule of Disaggregates Total Revenue by Reportable Segments [Line Items]
Net sales	519.4	430.3	381.5
Industrial [Member]
Schedule of Disaggregates Total Revenue by Reportable Segments [Line Items]
Net sales	$ 1,040.9	$ 1,039.0	$ 561.4

- Definition

+ References

+ Details

Reportable Segments (Tables)

12 Months Ended

Mar. 30, 2024

Reportable Segments [Abstract]

Schedule of Reportable Segment

Identifiable assets by reportable segment consist of those directly identified with the segment’s operations.

	Fiscal Year Ended
	March 30, 2024			April 1, 2023			April 2, 2022
Net External Sales
Aerospace/Defense	$	519.4		$	430.3		$	381.5
Industrial		1,040.9			1,039.0			561.4
	$	1,560.3		$	1,469.3		$	942.9

Gross Margin
Aerospace/Defense	$	208.8		$	171.0		$	155.1
Industrial		461.7			433.8			202.0
	$	670.5		$	604.8		$	357.1

Selling, General and Administrative Expenses
Aerospace/Defense	$	37.8		$	31.1		$	29.0
Industrial		132.8			122.5			58.6
Corporate		82.9			76.1			80.0
	$	253.5		$	229.7		$	167.6

Operating Income
Aerospace/Defense	$	161.7		$	132.7		$	117.8
Industrial		272.6			236.5			107.5
Corporate		(92.1	)		(76.2	)		(104.2	)
	$	342.2		$	293.0		$	121.1

Total Assets
Aerospace/Defense	$	798.6		$	749.8		$	776.5
Industrial		3,779.6			3,845.7			3,920.9
Corporate		100.4			94.9			148.0
	$	4,678.6		$	4,690.4		$	4,845.4

Capital Expenditures
Aerospace/Defense	$	10.6		$	9.5		$	7.5
Industrial		20.4			29.1			19.3
Corporate		2.2			3.4			3.0
	$	33.2		$	42.0		$	29.8

Depreciation & Amortization
Aerospace/Defense	$	19.6		$	18.6		$	19.1
Industrial		96.3			93.4			43.1
Corporate		3.4			3.4			3.3
	$	119.3		$	115.4		$	65.5

Geographic External Sales
Domestic	$	1,375.4		$	1,292.9		$	833.4
Foreign		184.9			176.4			109.5
	$	1,560.3		$	1,469.3		$	942.9

Geographic Long-Lived Assets
Domestic	$	341.5		$	360.7		$	373.0
Foreign		60.9			56.0			58.2
	$	402.4		$	416.7		$	431.2

Income Taxes (Details) - Schedule of Reconciliation of the Beginning and Ending Amount of Unrecognized Tax Benefits - USD ($) $ in Millions	12 Months Ended
	Mar. 30, 2024	Apr. 01, 2023	Apr. 02, 2022
Schedule of Reconciliation of the Beginning and Ending Amount of Unrecognized Tax Benefits [Abstract]
Balance	$ 13.1	$ 22.8	$ 16.6
Gross increases (decreases) – tax positions taken during a prior period	2.0	(8.9)	0.4
Gross increases – tax positions taken during the current period	1.7	1.7	7.6
Reductions due to lapse of the applicable statute of limitations	(1.6)	(2.5)	(1.8)
Balance	$ 15.2	$ 13.1	$ 22.8

Commitments and Contingencies

12 Months Ended

Mar. 30, 2024

Commitments and Contingencies [Abstract]

Commitments and Contingencies

18. Commitments and Contingencies

As of March 30, 2024, approximately 5% of the Company’s hourly employees in the U.S. and abroad were represented by labor unions.

The Company enters into U.S. government contracts and subcontracts that are subject to audit by the U.S. government. In the opinion of the Company’s management, the results of such audits, if any, are not expected to have a material impact on the cash flows, financial condition or results of operations of the Company.

For fiscal 2024, 2023 and 2022, there were no audits by the U.S. government, the results of which, in the opinion of the Company’s management, had a material impact on the cash flows, financial condition or results of operations of the Company.

The Company is subject to federal, state and local environmental laws and regulations, including those governing discharges of pollutants into the air and water, the storage, handling and disposal of wastes and the health and safety of employees. The Company also may be liable under the Comprehensive Environmental Response, Compensation, and Liability Act or similar state laws for the costs of investigation and cleanup of contamination at facilities currently or formerly owned or operated by the Company, or at other facilities at which the Company may have disposed of hazardous substances. In connection with such contamination, the Company may also be liable for natural resource damages, U.S. government penalties and claims by third parties for personal injury and property damage. Agencies responsible for enforcing these laws have authority to impose significant civil or criminal penalties for non-compliance. The Company believes it is currently in material compliance with all applicable requirements of environmental laws. The Company does not anticipate material capital expenditures for environmental compliance in fiscal years 2025 or 2026.

Investigation and remediation of contamination is ongoing at some of the Company’s sites. In particular, state agencies have been overseeing groundwater monitoring activities at the Company’s facility in Hartsville, South Carolina. At Hartsville, the Company is monitoring low levels of contaminants in the groundwater caused by former operations. Plans are currently underway to conclude remediation and monitoring activities. In connection with the purchase of the Fairfield, Connecticut facility in 1996, the Company agreed to assume responsibility for completing clean-up efforts previously initiated by the prior owner. The Company submitted data to the state that the Company believes demonstrates that no further remedial action is necessary, although the state may require additional clean-up or monitoring.

On March 9, 2022 and March 21, 2023, the Company received civil investigative demands from the United States Department of Justice pursuant to the False Claims Act, 31 U.S.C. § 3733 (the “FCA”). The investigation concerns allegations that the Company submitted false claims in connection with (i) certifying that the Company’s employees were eligible for unemployment insurance benefits and pandemic relief and worked reduced hours and (ii) received grant proceeds in violation of the FCA. The Company is cooperating with the investigation. As the investigation is in its early stages, it is not possible to determine whether the investigation will have a material adverse effect, if any, on the Company.

Besides the matter described in the previous paragraph, from time to time we are involved in litigation that arises in the ordinary course of business, but we do not believe that any such litigation in which we are currently involved, either individually or in the aggregate, is likely to have a material adverse effect on our business, financial condition, operating results, cash flow or prospects.

The Company has $3.7 of outstanding standby letters of credit, all of which are under the Revolving Credit Facility. We also have a contractual obligation for licenses related to the implementation and upgrade of an ERP system. The remaining contractual obligation related to these ERP license costs of $7.6 will end in June of 2026.

Summary of Significant Accounting Policies (Details) - Schedule of Weighted-average Shares Outstanding for Each Period Presented as Well as the Computation of Basic and Diluted Net Income Per Share Attributable to Common Stockholders - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Mar. 30, 2024	Apr. 01, 2023	Apr. 02, 2022
Earnings Per Share [Abstract]
Net income	$ 209.9	$ 166.7	$ 54.7
Preferred stock dividends	23.0	22.9	12.0
Net income attributable to common stockholders	$ 186.9	$ 143.8	$ 42.7
Denominator:
Denominator for basic net income per share attributable to common stockholders — weighted-average shares outstanding	28,917,008	28,764,092	26,946,355
Effect of dilution due to employee stock awards	272,048	308,337	364,674
Denominator for diluted net income per share attributable to common stockholders — weighted-average shares outstanding	29,189,056	29,072,429	27,311,029
Basic net income per share attributable to common stockholders	$ 6.47	$ 5	$ 1.58
Diluted net income per share attributable to common stockholders	$ 6.41	$ 4.94	$ 1.56

Other, Net (Tables)

12 Months Ended

Mar. 30, 2024

Other, Net [Abstract]

Schedule of Other, Net

Other, net is comprised of the following:

	Fiscal Year Ended
	March 30, 2024		April 1, 2023		April 2, 2022
Plant consolidation and restructuring costs	$	2.7	$	2.5	$	1.1
Acquisition costs and transition services		0.3		8.9		30.6
Provision for doubtful accounts		0.2		0.8		0.5
Amortization of intangibles		70.4		69.1		34.7
Loss on disposal of assets		0.6		0.3		0.3
Other expense		0.6		0.5		1.2
	$	74.8	$	82.1	$	68.4

Leases

12 Months Ended

Mar. 30, 2024

Leases [Abstract]

Leases

8. Leases

The Company enters into leases for manufacturing facilities, warehouses, sales offices, information technology equipment, plant equipment, vehicles and certain other equipment with varying end dates from April 2024 to March 2043, including renewal options.

The following table represents the impact of leasing on the consolidated balance sheets:

	Balance Sheet Classification	March 30, 2024		April 1, 2023
Assets:
Operating lease assets, net	Operating lease assets, net	$	41.4	$	41.4
Finance lease right of use assets, net	Property, plant and equipment, net		49.4		52.2
Total leased assets, net		$	90.8	$	93.6

Liabilities:
Current operating lease liabilities	Current operating lease liabilities	$	7.0	$	7.6
Current finance lease liabilities	Accrued expenses and other current liabilities		5.7		5.2
Noncurrent operating lease liabilities	Noncurrent operating lease liabilities		35.3		33.9
Noncurrent finance lease liabilities	Other noncurrent liabilities		46.7		48.5
Total lease liabilities		$	94.7	$	95.2

Cash paid associated with operating lease liabilities was $8.1 and $8.5 for the fiscal years ended March 30, 2024 and April 1, 2023, respectively, all of which were included within the operating cash flow section of the consolidated statements of cash flows. Lease assets obtained in exchange for new operating lease liabilities were $1.7 and $2.0 for the fiscal years ended March 30, 2024 and April 1, 2023, respectively. Lease modifications which resulted in newly obtained lease assets in exchange for new operating lease liabilities were $5.4 and $3.1 for the fiscal years ended March 30, 2024 and April 1, 2023, respectively.

Cash paid associated with finance lease liabilities was $5.3 and $5.0 for the fiscal years ended March 30, 2024 and April 1, 2023, respectively. Of these amounts, $3.6 and $3.2 were included within the financing cash flow section of the consolidated statements of cash flows for the fiscal years ended March 30, 2024 and April 1, 2023, respectively. $1.8 and $1.8 of these cash payments were included within the operating cash flow section of the consolidated statements of cash flows for the fiscal years ended March 30, 2024 and April 1, 2023, respectively. Lease assets obtained in exchange for new finance lease liabilities were $2.3 and $4.0 for the fiscal years ended March 30, 2024 and April 1, 2023, respectively. Lease modifications which resulted in reductions of lease assets in exchange for reductions of finance lease liabilities were $0.0 and $0.1 for the fiscal years ended March 30, 2024 and April 1, 2023, respectively.

Total operating lease expense was $10.1, $9.9 and $8.3 for the fiscal years ended March 30, 2024, April 1, 2023 and April 2, 2022, respectively. Short-term and variable lease expense were immaterial.

Total finance lease expense was $6.7 for the fiscal year ended March 30, 2024, of which, $5.0 was related to amortization expense of finance lease assets and $1.7 was related to interest expense. Total finance lease expense was $6.4 for the fiscal year ended April 1, 2023, of which, $4.5 was related to amortization expense of finance lease assets and $1.9 was related to interest expense. Variable lease expense was immaterial.

Future undiscounted lease payments for the remaining lease terms as of March 30, 2024, including renewal options reasonably certain of being exercised, are as follows:

	Operating Leases			Finance Leases
Within one year	$	7.1		$	5.8
One to two years		6.5			5.7
Two to three years		6.5			5.1
Three to four years		4.7			4.4
Four to five years		3.4			3.9
Thereafter		25.1			41.6
Total future undiscounted lease payments		53.3			66.5
Less: imputed interest		(11.0	)		(14.1	)
Total lease liabilities	$	42.3		$	52.4

The weighted-average remaining lease term on March 30, 2024 for our operating leases is 10.2 years. The weighted-average discount rate on March 30, 2024 for our operating leases is 5.7%.

The weighted-average remaining lease term on March 30, 2024 for our finance leases is 14.3 years. The weighted-average discount rate on March 30, 2024 for our finance leases is 3.5%.

Derivative Financial Instruments

12 Months Ended

Mar. 30, 2024

Derivative Financial Instruments [Abstract]

Derivative Financial Instruments

13. Derivative Financial Instruments

The Company is exposed to certain risks relating to its ongoing business operations, including market risks relating to fluctuations in interest rates. Derivative financial instruments are recognized on the consolidated balance sheets as either assets or liabilities and are measured at fair value. Changes in the fair values of derivatives are recorded each period in earnings or accumulated other comprehensive income, depending on whether a derivative is effective as part of a hedged transaction. Gains and losses on derivative instruments reported in accumulated other comprehensive income (loss) are subsequently included in earnings in the periods in which earnings are affected by the hedged item. The Company does not use derivative instruments for speculative purposes.

In fiscal 2023, the Company entered into the three-year USD-denominated Swap with a third-party financial counterparty under the Credit Agreement (see Note 12). The Swap was executed to protect the Company from interest rate volatility on our variable-rate Term Loan Facility. The Swap became effective December 30, 2022 and is comprised of a $600.0 notional with a maturity of three years. The notional is $400.0 as of March 30, 2024. We receive a variable rate based on one-month Term SOFR and pay a fixed rate of 4.455%. As of March 30, 2024, after given effect to the Swap, approximately 75% of our debt bore interest at a fixed rate after giving effect to the interest rate swap agreement in place. The notional on the Swap will amortize as follows:

Year 1: $600.0

Year 2: $400.0

Year 3: $100.0

The Swap has been designated as a cash flow hedge of the variability of the first unhedged interest payments (the hedged transactions) paid over the hedging relationship’s specified time period of three years attributable to the borrowing’s contractually specified interest index on the hedged principal of its general borrowing program or replacement or refinancing thereof. The fair value of the Swap has been disclosed in Note 4. The accumulated other comprehensive income derivative component balance, net of taxes, was a $1.2 gain and a $2.2 loss at March 30, 2024 and April 1, 2023, respectively. The gain/loss reclassified from accumulated other comprehensive income into earnings will be recorded as interest income/expense on the Swap and will be included in the operating section of the Company’s consolidated statements of cash flows.

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Mar. 30, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Debt (Details) SFr in Millions, $ in Millions	12 Months Ended
Debt (Details) SFr in Millions, $ in Millions	Mar. 30, 2024 USD ($)	Apr. 01, 2023 USD ($)	Apr. 02, 2022 USD ($)	Mar. 30, 2024 CHF (SFr)
Debt [Line Items]
Future principal payments for fiscal 2025	$ 0.0
Future principal payments for fiscal 2026	0.0
Future principal payments for fiscal 2027	$ 675.0
Credit agreement, description	The Credit Agreement requires the Company to comply with various covenants, including the following financial covenants: (a) a maximum Total Net Leverage Ratio (as defined within the Credit Agreement) of 5.00:1.00, which maximum Total Net Leverage Ratio shall decrease during certain subsequent test periods as set forth in the Credit Agreement (provided that, no more than once during the term of the Facilities, such maximum ratio applicable at such time may be increased by the Company by 0.50:1.00 for a period of twelve (12) months after the consummation of a material acquisition); and (b) a minimum Interest Coverage Ratio of 2.00:1.00.
Outstanding amounts under the term loan	$ 675.0
Revolving credit facility, borrowing capacity	$ 478.3
Net proceeds from issuance of senior notes			$ 492.0
Senior notes, interest rate	4.375%
Borrowed from the new foreign revolver	$ 20.3
Provide a bank guarantee	0.1
Term Loan Facility [Member]
Debt [Line Items]
Credit facility maximum borrowing capacity amount	$ 1,300.0
October 15, 2024 [Member]
Debt [Line Items]
Percentage senior notes redemption capacity	40.00%
Redemption price of senior notes	104.375%
Redemption price of senior notes	100% of the principal amount, plus a “make–whole” premium
Senior Notes due 2029 [Member]
Debt [Line Items]
Senior notes, aggregate principal amount			$ 500.0
Purchase of Business Assets of Specline, Inc. [Member]
Debt [Line Items]
Revolving credit facility utilized	$ 18.0
New Credit Agreement [Member]
Debt [Line Items]
Credit agreement, description of variable rate basis.	amounts outstanding under the Facilities generally bore interest at either, at the Company’s option, (a) a base rate determined by reference to the higher of (i) Wells Fargo’s prime lending rate, (ii) the federal funds effective rate plus 1/2 of 1.00% and (iii) the one-month LIBOR rate plus 1.00% or (b) the LIBOR rate plus a specified margin, depending on the type of borrowing being made. The applicable margin was based on the Company’s consolidated ratio of total net debt to consolidated EBITDA (as defined within the Credit Agreement) from time to time. In December 2022, the Credit Agreement was amended to replace LIBOR with the secured overnight financing rate administered by the Federal Reserve Bank of New York (i.e., SOFR) so that borrowings under the Facilities denominated in U.S. dollars bear interest at a rate per annum equal to Term SOFR (as defined in the Credit Agreement) plus a credit spread adjustment of 0.10% plus a margin ranging from 0.75% to 2.00% depending on the Company’s consolidated ratio of total net debt to consolidated EBITDA. The Facilities are subject to a SOFR floor of 0.00%. As of March 30, 2024, the Company’s margin was 1.25% for SOFR loans, the commitment fee rate was 0.20%, and the letter of credit fee rate was 1.25%.
Foreign Term Loan [Member]
Debt [Line Items]
Borrowed from the new foreign revolver	$ 2.2
Foreign Term Loan [Member] \| Schaublin [Member]
Debt [Line Items]
Revolving credit facility utilized	5.8			SFr 5.0
Revolving Credit Facility [Member]
Debt [Line Items]
Credit facility maximum borrowing capacity amount	500.0
Revolving credit facility utilized	3.7
Credit Agreement [Member] \| Revolver [Member]
Debt [Line Items]
Unamortized debt issuance costs	$ 14.9
Senior Notes [Member]
Debt [Line Items]
Mature date	Oct. 15, 2029

Goodwill and Intangible Assets (Details) - Schedule of Estimated Amortization Expense $ in Millions	Mar. 30, 2024 USD ($)
Schedule of Estimated Amortization Expense [Abstract]
2025	$ 70.7
2026	67.8
2027	66.1
2028	65.3
2029	63.9
2030 and thereafter	$ 1,033.8

Summary of Significant Accounting Policies (Details) - Schedule of Activity within Each Component of Accumulated Other Comprehensive Income (Loss), net of Taxes (Parentheticals) $ in Millions	12 Months Ended
	Mar. 30, 2024 USD ($)
Schedule of Activity Within Each Component of Accumulated Other Comprehensive Income Loss Net of Taxes [Abstract]
Amortization of net gain, net of tax expense	$ 0.4
Gain on derivative instrument, net of tax expense	$ 0.9

Other, Net (Details) - Schedule of Other, Net - USD ($) $ in Millions	12 Months Ended
	Mar. 30, 2024	Apr. 01, 2023	Apr. 02, 2022
Schedule of Other, Net [Abstract]
Plant consolidation and restructuring costs	$ 2.7	$ 2.5	$ 1.1
Acquisition costs and transition services	0.3	8.9	30.6
Provision for doubtful accounts	0.2	0.8	0.5
Amortization of intangibles	70.4	69.1	34.7
Loss on disposal of assets	0.6	0.3	0.3
Other expense	0.6	0.5	1.2
Total other, net	$ 74.8	$ 82.1	$ 68.4

Stockholders’ Equity

12 Months Ended

Mar. 30, 2024

Stockholders' Equity Note [Abstract]

Stockholders’ Equity

17. Stockholders’ Equity

Preferred Stock

We are authorized to issue 10,000,000 shares of preferred stock, $0.01 par value per share, in one or more series and to fix the powers, designations, preferences and relative participating, option or other rights thereof, including dividend rights, conversion rights, voting rights, redemption terms, liquidation preferences and the number of shares constituting any series, without any further vote or action by our stockholders.

In fiscal 2022, we completed an offering of 4,600,000 shares of MCPS in a public offering registered under the Securities Act of 1933. The trading symbol for the MCPS on the New York Stock Exchange is “RBCP.” The net proceeds from the offering were approximately $445.3, after deducting underwriting discounts and commissions and offering expenses, and were used to fund a portion of the purchase price for the acquisition of Dodge.

Holders of MCPS are entitled to receive, when, as and if declared by our Board of Directors, or an authorized committee thereof, out of funds legally available for payment, cumulative dividends at the annual rate of 5.00% of the liquidation preference of $100 per share, payable in cash or, subject to certain limitations, by delivery of shares of common stock or any combination of cash and shares of common stock, at our election; provided, however, that any unpaid dividends on the MCPS will continue to accumulate as described in the Certificate of Designations that sets forth the rights, preferences and privileges of the MCPS. The Company made dividend payments of $5.7 on April 17, 2023, $5.8 on July 17, 2023, $5.8 on October 16, 2023, and $5.7 on January 15, 2024. The Company also had accrued $4.8 as of March 30, 2024 for dividends that were paid on April 15, 2024.

The MCPS has a liquidation preference of $100 per share plus accrued and unpaid dividends. As of March 30, 2024, the MCPS had an aggregate liquidation preference of $464.8.

Subject to certain exceptions, no dividend or distribution will be declared or paid on shares of our common stock, and no common stock will be purchased, redeemed or otherwise acquired for consideration by us or any of our subsidiaries unless, in each case, all accumulated and unpaid dividends for all preceding dividend periods have been declared and paid, or a sufficient amount of cash or number of shares of common stock has been set apart for the payment of such dividends, on all outstanding shares of MCPS. In the event of our voluntary or involuntary liquidation, winding-up or dissolution, no distribution of our assets may be made to holders of our common stock until we have paid holders of MCPS, each of which will be entitled to receive a liquidation preference in the amount of $100 per share plus accumulated and unpaid dividends.

Unless earlier converted or redeemed, each share of MCPS will automatically convert, for settlement on or about October 15, 2024, into between 0.4413 and 0.5405 shares of common stock, subject to customary anti-dilution adjustments. The conversion rate that will apply to mandatory conversions will be determined based on the average of the daily volume-weighted average prices over the 20 consecutive trading days beginning on, and including, the 21st scheduled trading day immediately before October 15, 2024. The conversion rate applicable to mandatory conversions may in certain circumstances be increased to compensate holders of the MCPS for certain unpaid accumulated dividends.

Common Stock

We are authorized to issue 60,000,000 shares of common stock, $0.01 par value per share. Holders of common stock are entitled to one vote per share. Holders of common stock are entitled to receive dividends, if and when declared by our Board of Directors, and to share ratably in our assets legally available for distribution to our stockholders in the event of liquidation after giving effect to any liquidation preference for the benefit of the MCPS or any other preferred stock then outstanding. Holders of common stock have no preemptive, subscription, redemption, or conversion rights. The holders of common stock do not have cumulative voting rights. The holders of a majority of the shares of common stock can elect all of the directors and can control our management and affairs.

In fiscal 2022 we completed an offering of 3,450,000 shares of common stock in a public offering registered under the Securities Act of 1933 at an offering price of $185 per share. The net proceeds from the offering were approximately $605.5, after deducting underwriting discounts and commissions and offering expenses, and were used to fund a portion of the purchase price for the acquisition of Dodge.

Long-Term Equity Incentive Plans

The Company’s long-term equity incentive plans (the “Equity Plans”) provide for grants of stock options, stock appreciation rights, restricted stock and performance awards to directors, officers and other employees and persons who engage in services for the Company. The purpose of the Equity Plans is to provide these individuals with incentives to maximize stockholder value and otherwise contribute to the Company’s success and to enable the Company to attract, retain and reward the best available persons for positions of responsibility. 1,500,000 shares of common stock were authorized for issuance under each Equity Plan when it was adopted, subject to adjustment in the event of a reorganization, stock split, merger or similar change in the Company’s corporate structure or in the outstanding shares of common stock. The Company’s Compensation Committee administers the Equity Plans, although the Company’s Board of Directors also has the authority to administer the Equity Plans and to take all actions that the Compensation Committee is otherwise authorized to take under the Equity Plans. The terms and conditions of each award made under an Equity Plan, including vesting requirements, are set forth in a written agreement with the recipient that is consistent with the terms of the relevant Equity Plan. As of March 30, 2024 the Company’s long-term equity incentive plans were as follows: the 2013 Equity Plan, which expired in 2023 although stock options awarded under this plan are still outstanding; the 2017 Equity Plan, which expires in 2027; and the 2021 Equity Plan, which expires in 2031. As of March 30, 2024 there were 272,328 and 1,500,000 shares available for future awards under the 2017 and 2021 Equity plans, respectively.

Stock Options. Under the Equity Plans, the Compensation Committee or the Board may approve the award of non-qualified stock options. The Compensation Committee also has the authority to approve the grant of options that will become fully vested and exercisable automatically upon a change in control. The Compensation Committee may not, however, approve an award to any one person (other than Dr. Michael J. Hartnett) in any calendar year for options to purchase common stock equal to more than 10% of the total number of shares authorized under the relevant Equity Plan. The Compensation Committee will approve the exercise price and term of any option in its discretion; however, the exercise price may not be less than 100% of the fair market value of a share of common stock on the date of grant. The Equity Plans also authorize the Compensation Committee to award incentive stock options conforming to the requirements of Section 422 of the Internal Revenue Code, but to date no such options have been awarded. As of March 30, 2024, there were 8,272 outstanding options under the 2013 Equity Plan, all of which were exercisable, 497,620 outstanding options under the 2017 Equity Plan, 233,440 of which were exercisable, and no outstanding option under the 2021 Equity Plan.

Restricted Stock. Under the Equity Plans, the Compensation Committee may approve the award of restricted stock subject to the conditions and restrictions, and for the duration that it determines in its discretion. Under each of the 2017 and 2021 Equity Plans, the number of shares that may be used for restricted stock awards may not exceed 50% of the total authorized number of shares under that Equity Plan. As of March 30, 2024, there were zero, 173,445 and zero shares of restricted stock outstanding under the 2013, 2017 and 2021 Equity Plans, respectively.

Performance Awards. The Compensation Committee may approve performance awards contingent upon achievement by the recipient, or by the Company, of set goals and objectives regarding specified performance criteria, over a specified performance cycle. Awards may include specific dollar-value target awards, performance units the value of which is established at the time of grant, and/or performance shares the value of which is equal to the fair market value of a share of common stock on the date of grant. The value of a performance award may be fixed or fluctuate on the basis of specified performance criteria. A performance award may be paid out in cash and/or shares of common stock or other securities. Certain senior executive officers receive performance awards in the form of stock options, restricted stock and/or unrestricted stock.

Stock Appreciation Rights. The Compensation Committee may approve the grant of stock appreciation rights, or SARs, subject to the terms and conditions contained in the Equity Plans. The exercise price of an SAR must equal the fair market value of a share of the Company’s common stock on the date the SAR is granted. Upon exercise of an SAR, the grantee will receive an amount in shares of our common stock equal to the difference between the fair market value of a share of common stock on the date of exercise and the exercise price of the SAR, multiplied by the number of shares as to which the SAR is exercised. There were no SARs issued or outstanding under the Plans as of March 30, 2024.

Amendment and Termination of the Equity Plans. Except as otherwise provided in an award agreement, the Board of Directors, without approval of the stockholders, may amend or terminate any Equity Plan, except that no amendment will become effective without prior approval of the stockholders of the Company if stockholder approval would be required by applicable law or regulations, including if required (i) under the provisions of Section 409A or any successor thereto, (ii) under the provisions of Section 422 of the Code or any successor thereto, or (iii) by any listing requirement of the principal stock exchange on which the common stock is then listed. Subject to the provisions of an award agreement, which may be more restrictive, no termination of an Equity Plan may materially and adversely affect any of the rights or obligations of any award recipient, without his or her written consent, under any award of options or other incentives previous granted under the relevant Equity Plan.

	Number Of Common Stock Options			Weighted Average Exercise Price Per Share		Weighted Average Contractual Life (Years)		Intrinsic Value
Outstanding, April 1, 2023		623,635		$	153.95		3.7	$	49.2
Awarded		54,820			215.97
Exercised		(168,321	)		120.48
Forfeitures		(4,000	)		208.85
Expirations		(242	)		136.46
Outstanding, March 30, 2024		505,892		$	171.38		3.6	$	50.1

Exercisable, March 30, 2024		241,712		$	155.39		2.8	$	27.8

	Fiscal Year Ended
	March 30, 2024			April 1, 2023			April 2, 2022
Dividend yield		0.00	%		0.00	%		0.00	%
Expected weighted-average life (yrs.)		5.0			5.0			5.0
Risk-free interest rate		4.20	%		3.05	%		0.95	%
Expected volatility		46.71	%		45.57	%		43.43	%

The weighted average fair value per share of options granted was $99.92 in fiscal 2024, $90.39 in fiscal 2023 and $76.65 in fiscal 2022.

The Company recorded $2.6 (net of taxes of $0.8) in compensation expense in fiscal 2024 related to option awards. As of March 30, 2024, there was $9.9 of unrecognized compensation costs related to options which is expected to be recognized over a weighted average period of 3.5 years. The total intrinsic value of options exercised in fiscal 2024, 2023 and 2022 was $22.9, $16.9 and $11.9, respectively.

Of the total awards outstanding at March 30, 2024, 503,132 were either fully vested or are expected to vest. These shares have a weighted average exercise price of $171.19, an intrinsic value of $49.9 and a weighted average contractual term of 3.6 years.

A summary of the status of the Company’s restricted stock outstanding as of March 30, 2024 and the changes during the year then ended is presented below.

	Number Of Restricted Stock Shares			Weighted-Average Grant Date Fair Value
Non-vested, April 1, 2023		192,124		$	186.67
Granted		71,448			205.50
Vested		(87,854	)		177.26
Forfeitures		(2,273	)		194.19
Non-vested, March 30, 2024		173,445		$	199.09

The weighted average fair value per share of restricted stock granted was $205.50 in fiscal 2024, $201.60 in fiscal 2023 and $198.04 in fiscal 2022.

The Company recorded $8.9 (net of taxes of $2.6) in compensation expense in fiscal 2024 related to restricted stock awards. These awards were valued at the fair market value of the Company’s common stock on the date of issuance and are being amortized as expense over the applicable vesting period. The total fair value of restricted stock awards that vested during fiscal 2024, 2023, and 2022 was $19.2, $21.2 and $22.1, respectively. Unrecognized expense for restricted stock was $18.9 at March 30, 2024. This cost is expected to be recognized over a weighted average period of approximately 2.6 years.

A summary of the status of the Company’s liability classified awards outstanding as of March 30, 2024 and the changes during the year then ended is presented below.

	Intrinsic Value
Outstanding, April 1, 2023	$	—
Awarded		11.7
Vested		—
Cancelled		—
Change in fair value		—
Outstanding, March 30, 2024	$	11.7

Estimated liability as of March 30, 2024	$	2.5

The Company recorded $1.9 (net of taxes of $0.6) in stock-based compensation expense in fiscal 2024 related to liability awards. As of March 30, 2024, $2.0 and $0.5 was included in other noncurrent liabilities and other current liabilities, respectively. As of March 30, 2024 there was $9.2 of unrecognized compensation costs related to liability awards which is expected to be recognized over a weighted average period of 3.1 years. The total intrinsic value of liability classified awards vested in fiscal 2024, 2023 and 2022 was $0.0, $0.0 and $0.0, respectively.

- Definition

The entire disclosure for equity.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Revenue from Contracts with Customers (Details) - USD ($) $ in Millions	Apr. 01, 2023	Apr. 02, 2022	Mar. 30, 2024
Revenue from Contracts with Customers [Line Items]
Remaining performance obligations			$ 464.4
Contract assets	$ 4.5		6.9
Contract current liabilities	20.6		22.5
Recognized revenues	16.4	$ 13.1
Noncurrent contract liabilities	19.8		19.9
Accrued rebates	$ 39.6		$ 38.0
Transferred over Time [Member]
Revenue from Contracts with Customers [Line Items]
Revenue from remaining performance obligation percentage over twelve months			62.00%
Revenue from remaining performance obligation percentage over twenty-four months			92.00%

Stockholders’ Equity (Details) - Schedule of Restricted Stock Outstanding - Restricted Stock [Member]	12 Months Ended
	Mar. 30, 2024 $ / shares shares
Stockholders’ Equity (Details) - Schedule of Restricted Stock Outstanding [Line Items]
Non-vested, April 1, 2023 \| shares	192,124
Non-vested, April 1, 2023 \| $ / shares	$ 186.67
Granted \| shares	71,448
Granted \| $ / shares	$ 205.5
Vested \| shares	(87,854)
Vested \| $ / shares	$ 177.26
Forfeitures \| shares	(2,273)
Forfeitures \| $ / shares	$ 194.19
Non-vested, March 30, 2024 \| shares	173,445
Non-vested, March 30, 2024 \| $ / shares	$ 199.09

Leases (Details) - Schedule of Undiscounted Lease Payments for the Remaining Lease Terms $ in Millions	Mar. 30, 2024 USD ($)
Operating Leases [Member]
Schedule of Undiscounted Lease Payments for the Remaining Lease Terms [Line Items]
Operating Leases, Within one year	$ 7.1
Operating Leases, One to two years	6.5
Operating Leases, Two to three years	6.5
Operating Leases, Three to four years	4.7
Operating Leases, Four to five years	3.4
Operating Leases, Thereafter	25.1
Operating Leases, Total future undiscounted lease payments	53.3
Operating Leases, Less: imputed interest	(11.0)
Operating Leases, Total lease liabilities	42.3
Finance Leases [Member]
Schedule of Undiscounted Lease Payments for the Remaining Lease Terms [Line Items]
Finance Leases, Within one year	5.8
Finance Leases, One to two years	5.7
Finance Leases, Two to three years	5.1
Finance Leases, Three to four years	4.4
Finance Leases, Four to five years	3.9
Finance Leases, Thereafter	41.6
Finance Leases, Total future undiscounted lease payments	66.5
Finance Leases, Less: imputed interest	(14.1)
Finance Leases, Total lease liabilities	$ 52.4

Stockholders’ Equity (Details) - Schedule of Liability Classified Awards Outstanding - Liability Awards [Member]	12 Months Ended
	Mar. 30, 2024 USD ($)
Schedule of Liability Classified Awards Outstanding [Line Items]
Outstanding, April 1, 2023
Awarded	11.7
Vested
Cancelled
Change in Fair Value
Outstanding, March 30, 2024	11.7
Estimated Liability as of March 30, 2024	$ 2.5

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

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-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (e)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 23: http://www.xbrl.org/2003/role/disclosureRef
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Reference 24: http://www.xbrl.org/2003/role/disclosureRef
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Reference 25: http://www.xbrl.org/2003/role/disclosureRef
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Reference 26: http://www.xbrl.org/2003/role/disclosureRef
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Reference 27: http://www.xbrl.org/2003/role/disclosureRef
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Reference 28: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

+ Details

Schedule of Leasing on the Consolidated Balance Sheets (Details) - Schedule of Leasing on the Consolidated Balance Sheets - USD ($) $ in Millions	Mar. 30, 2024	Apr. 01, 2023
Disclosure Text Block Abstract
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration]	Operating Lease, Right-of-Use Asset	Operating Lease, Right-of-Use Asset
Operating Lease, Right-of-Use Asset	$ 41.4	$ 41.4
Finance Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration]	Property, plant and equipment, net	Property, plant and equipment, net
Finance Lease, Right-of-Use Asset, after Accumulated Amortization	$ 49.4	$ 52.2
	$ 90.8	$ 93.6
Operating Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration]	Operating Lease, Liability, Current	Operating Lease, Liability, Current
Operating Lease, Liability, Current	$ 7.0	$ 7.6
Finance Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration]	Accrued expenses and other current liabilities	Accrued expenses and other current liabilities
Finance Lease, Liability, Current	$ 5.7	$ 5.2
Operating Lease, Liability, Noncurrent, Statement of Financial Position [Extensible Enumeration]	Operating Lease, Liability, Noncurrent	Operating Lease, Liability, Noncurrent
Operating Lease, Liability, Noncurrent	$ 35.3	$ 33.9
Finance Lease, Liability, Noncurrent, Statement of Financial Position [Extensible Enumeration]	Other noncurrent liabilities	Other noncurrent liabilities
Finance Lease, Liability, Noncurrent	$ 46.7	$ 48.5
Total lease liabilities	$ 94.7	$ 95.2

Property, Plant and Equipment

12 Months Ended

Mar. 30, 2024

Property, Plant and Equipment [Abstract]

Property, Plant and Equipment

7. Property, Plant and Equipment

Property, plant and equipment consist of the following:

	March 30, 2024			April 1, 2023
Land	$	25.2		$	25.2
Buildings and improvements		175.0			174.3
Machinery and equipment		497.8			472.8
		698.0			672.3
Less: accumulated depreciation		(337.0	)		(297.0	)
	$	361.0		$	375.3

Depreciation expense was $48.9, $46.2 and $30.8 for the fiscal years ended March 30, 2024, April 1, 2023, and April 2, 2022, respectively.

Finance Leases

For the year ended March 30, 2024, $51.8 of assets included in buildings and improvements and $7.9 of assets included in machinery and equipment were accounted for as finance leases. For the year ended April 1, 2023, $51.5 of assets included in buildings and improvements and $6.5 of assets included in machinery and equipment were accounted for as finance leases. At March 30, 2024 and April 1, 2023, the Company had accumulated amortization of $10.3 and $5.8 associated with these assets, respectively. Amortization expense associated with these finance leases was $4.9, $4.5 and $1.3 for the years ended March 30, 2024, April 1, 2023 and April 2, 2022, respectively, and is included within depreciation expense as mentioned above.

Revenue from Contracts with Customers (Tables)

12 Months Ended

Mar. 30, 2024

Revenue from Contracts with Customers [Abstract]

Schedule of Disaggregates Total Revenue by Reportable Segments

The following table disaggregates total revenue by end market which is how we view our reportable segments (see Note 20):

	Fiscal Year Ended
	March 30, 2024		April 1, 2023		April 2, 2022
Aerospace/Defense	$	519.4	$	430.3	$	381.5
Industrial		1,040.9		1,039.0		561.4
	$	1,560.3	$	1,469.3	$	942.9

Schedule of Disaggregates Total Revenue by Geographic Origin

The following table disaggregates total revenue by geographic origin:

	Fiscal Year Ended
	March 30, 2024		April 1, 2023		April 2, 2022
United States	$	1,375.4	$	1,292.9	$	833.4
International		184.9		176.4		109.5
	$	1,560.3	$	1,469.3	$	942.9

Schedule of Percentage Revenue Recognized for Performance Obligations Satisfied Over Time Versus the Amount of Revenue Recognized

	Fiscal Year Ended
	March 30, 2024			April 1, 2023			April 2, 2022
Point-in-time		98	%		98	%		97	%
Over time		2	%		2	%		3	%
		100	%		100	%		100	%

Consolidated Balance Sheets - USD ($) $ in Millions	Mar. 30, 2024	Apr. 01, 2023
Current assets:
Cash and cash equivalents	$ 63.5	$ 65.4
Accounts receivable, net of allowance for doubtful accounts of $4.4 at March 30, 2024 and $3.7 at April 1, 2023	255.2	239.6
Inventory	622.8	587.2
Prepaid expenses and other current assets	24.0	21.1
Total current assets	965.5	913.3
Property, plant and equipment, net	361.0	375.3
Operating lease assets, net	41.4	41.4
Goodwill	1,874.9	1,869.8
Intangible assets, net	1,391.9	1,452.9
Other noncurrent assets	43.9	37.7
Total assets	4,678.6	4,690.4
Current liabilities:
Accounts payable	116.2	146.8
Accrued expenses and other current liabilities	167.3	153.4
Current operating lease liabilities	7.0	7.6
Current portion of long-term debt	3.8	1.5
Total current liabilities	294.3	309.3
Long-term debt, less current portion	1,188.1	1,393.5
Noncurrent operating lease liabilities	35.3	33.9
Deferred income taxes	284.2	295.1
Other noncurrent liabilities	124.8	122.7
Total liabilities	1,926.7	2,154.5
Stockholders’ equity:
Preferred stock, $.01 par value; authorized shares: 10,000,000 as of March 30, 2024 and April 1, 2023, respectively; issued shares: 4,600,000 as of March 30, 2024 and April 1, 2023, respectively	0.0	0.0
Common stock, $.01 par value; authorized shares: 60,000,000 at March 30, 2024 and April 1, 2023, respectively; issued shares: 30,227,444 and 29,989,948 at March 30, 2024 and April 1, 2023, respectively	0.3	0.3
Additional paid-in capital	1,625.2	1,589.9
Accumulated other comprehensive income/(loss)	0.7	(4.1)
Retained earnings	1,216.8	1,029.9
Treasury stock, at cost, 1,015,053 shares and 966,398 shares at March 30, 2024 and April 1, 2023, respectively	(91.1)	(80.1)
Total stockholders’ equity	2,751.9	2,535.9
Total liabilities and stockholders’ equity	$ 4,678.6	$ 4,690.4

Consolidated Statements of Comprehensive Income (Parentheticals) - USD ($) $ in Millions	12 Months Ended
	Mar. 30, 2024	Apr. 01, 2023	Apr. 02, 2022
Statement of Comprehensive Income [Abstract]
Pension and post retirement liability adjustments, net of tax expense	$ 0.4	$ 2.0	$ 1.1
Change in fair value of derivative, net of tax expense	$ 1.0
Change in fair value of derivative, net of tax benefit		$ 0.6

Inventory

12 Months Ended

Mar. 30, 2024

Inventory [Abstract]

Inventory

6. Inventory

Inventories are summarized below:

	March 30, 2024		April 1, 2023
Raw materials	$	138.1	$	132.4
Work in process		137.9		132.5
Finished goods		346.8		322.3
	$	622.8	$	587.2

Employee Benefit Plans (Details) - USD ($) $ in Millions	12 Months Ended
Employee Benefit Plans (Details) - USD ($) $ in Millions	Mar. 30, 2024	Apr. 01, 2023	Apr. 02, 2022
Employee Benefit Plans [Line Items]
Defined benefit plan assets	$ 9.1	$ 8.7
Projected benefit obligation	$ 3.7	$ 3.8
Discount rates used to determine the funded status of the plan	5.00%	4.70%
Funded status of the plan	$ 5.4	$ 4.9
Net periodic benefit cost	$ 0.1	$ 0.2	$ 0.0
Net periodic benefit discount rate	4.70%	3.30%	2.70%
Employer contributions	$ 9.6	$ 8.6	$ 4.6
Other noncurrent assets	43.9	37.7
Dodge plan postretirement benefit obligations	5.8	6.3
Postretirement benefit obligations, current	0.8	0.8
Supplemental Executive Retirement Plan [Member]
Employee Benefit Plans [Line Items]
Other noncurrent assets	33.0	28.6
SERP liabilities	$ 29.9	25.7
Schaublin Plan Member [Member]
Employee Benefit Plans [Line Items]
Number of employees	163
Swiss Tool Plan [Member]
Employee Benefit Plans [Line Items]
Number of employees	34
Unfunded liabilities	$ 2.3	1.5
Schaublin And Swiss Tool Sponsor Pension Plans [Member]
Employee Benefit Plans [Line Items]
Net periodic benefit cost	2.0	1.8	$ 1.7
Post Retirement Medical And Life Insurance Benefits [Member]
Employee Benefit Plans [Line Items]
Postretirement benefit obligations	2.2	2.4
Current postretirement benefit obligations.	$ 0.2	$ 0.2
Minimum [Member]
Employee Benefit Plans [Line Items]
Employer contribution percentage	10.00%
Maximum [Member]
Employee Benefit Plans [Line Items]
Employer contribution percentage	100.00%
Current Salary [Member] \| Maximum [Member]
Employee Benefit Plans [Line Items]
Deferred compensation	75.00%
Bonus Compensation [Member] \| Maximum [Member]
Employee Benefit Plans [Line Items]
Deferred compensation	100.00%

Goodwill and Intangible Assets (Details) - Schedule of Goodwill Balances, by Segment - USD ($)
$ in Millions

12 Months Ended

Mar. 30, 2024

Apr. 01, 2023

Schedule of Goodwill Balances, by Segment [Line Items]

Balance at beginning

$ 1,869.8

$ 1,902.1

Acquisition

5.1

^[1]

(28.7)

^[2]

Translation adjustments

0.0

(3.6)

Balance at end

1,874.9

1,869.8

Aerospace/ Defense [Member]

Schedule of Goodwill Balances, by Segment [Line Items]

Balance at beginning

194.1

Acquisition

5.1

^[1]

^[2]

Translation adjustments

Balance at end

199.2

194.1

Industrial [Member]

Schedule of Goodwill Balances, by Segment [Line Items]

Balance at beginning

1,675.7

1,708.0

Acquisition

^[1]

(28.7)

^[2]

Translation adjustments

0.0

(3.6)

Balance at end

$ 1,675.7

[1]	Goodwill associated with the acquisition of Specline, Inc. discussed further in Note 9.
[2]	Purchase price adjustments associated with the acquisition of Dodge Industrial.

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 24
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482548/350-20-55-24

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-2

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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-Section 50
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-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 350
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-Section 50
-Paragraph 1
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 350
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-Section 50
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 350
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 350
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-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 350
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-Name Accounting Standards Codification
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 350
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-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1A
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1A

+ Details

Income Taxes (Details) - Schedule of Net Deferred Tax Assets (Liabilities) - USD ($) $ in Millions	Mar. 30, 2024	Apr. 01, 2023
Deferred tax assets:
Pension and postretirement benefits	$ 1.5	$ 1.8
Employee compensation accruals	11.4	10.9
Inventory	15.6	15.8
Operating lease liabilities	8.0	7.8
Finance lease liabilities	0.3	0.0
Stock compensation	5.4	3.4
Tax loss and credit carryforwards	11.5	12.5
State tax	1.3	1.3
Other accrued liabilities	8.1	8.9
Capitalized research and development costs	16.4	8.1
Other	0.4	5.1
Total gross deferred tax assets	79.9	75.6
Valuation allowance	(7.0)	(8.5)
Total deferred tax assets	72.9	67.1
Deferred tax liabilities:
Property, plant and equipment	(32.4)	(33.5)
Operating lease assets	(7.7)	(7.7)
Other	(3.7)	(3.3)
Intangible assets	(312.4)	(316.7)
Total deferred tax liabilities	(356.2)	(361.2)
Total net deferred liabilities	$ (283.3)	$ (294.1)

Inventory (Tables)

12 Months Ended

Mar. 30, 2024

Inventory [Abstract]

Schedule of Inventories

Inventories are summarized below:

	March 30, 2024		April 1, 2023
Raw materials	$	138.1	$	132.4
Work in process		137.9		132.5
Finished goods		346.8		322.3
	$	622.8	$	587.2