0001213900-21-028445 | 10-K | XBRL Viewer

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Document And Entity Information - USD ($)	12 Months Ended
Document And Entity Information - USD ($)	Apr. 03, 2021	May 14, 2021	Sep. 26, 2020
Document Information Line Items
Entity Registrant Name	RBC BEARINGS INCORPORATED
Trading Symbol	ROLL
Document Type	10-K
Current Fiscal Year End Date	--04-03
Entity Common Stock, Shares Outstanding		25,226,055
Entity Public Float			$ 2,994,734,690
Amendment Flag	false
Entity Central Index Key	0001324948
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Filer Category	Large Accelerated Filer
Entity Well-known Seasoned Issuer	Yes
Document Period End Date	Apr. 03, 2021
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	FY
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Document Annual Report	true
Document Transition Report	false
Entity File Number	333-124824
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	95-4372080
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
City Area Code	(203)
Local Phone Number	267-7001
Title of 12(b) Security	Common Stock, par value $0.01 per share
Security Exchange Name	NASDAQ
Entity Interactive Data Current	Yes

Consolidated Balance Sheets - USD ($) $ in Thousands	Apr. 03, 2021	Mar. 28, 2020
Current assets:
Cash and cash equivalents	$ 151,086	$ 103,255
Marketable securities	90,249
Accounts receivable, net of allowance for doubtful accounts of $1,792 at April 3, 2021 and $1,627 at March 28, 2020	110,472	128,995
Inventory	364,147	367,494
Prepaid expenses and other current assets	12,248	12,262
Total current assets	728,202	612,006
Property, plant and equipment, net	208,264	219,846
Operating lease assets, net	35,664	28,953
Goodwill	277,536	277,776
Intangible assets, net of accumulated amortization of $63,371 at April 3, 2021 and $55,732 at March 30, 2020	154,399	162,747
Other assets	30,195	20,584
Total assets	1,434,260	1,321,912
Current liabilities:
Accounts payable	36,336	51,038
Accrued expenses and other current liabilities	43,564	40,580
Current operating lease liabilities	5,726	5,708
Current portion of long-term debt	2,612	6,429
Total current liabilities	88,238	103,755
Long-term debt, less current portion	13,495	16,583
Long-term operating lease liabilities	29,982	23,396
Deferred income taxes	17,178	16,560
Other noncurrent liabilities	55,416	43,619
Total liabilities	204,309	203,913
Commitments and contingencies (Note 17)
Stockholders’ equity:
Preferred stock, $.01 par value; authorized shares: 10,000,000 in fiscal 2021 and fiscal 2020; none issued or outstanding
Common stock, $.01 par value; authorized shares: 60,000,000 at April 3, 2021 and March 28, 2020, respectively; issued shares: 26,110,320 and 25,881,415 at April 3, 2021 and March 28, 2020, respectively	261	259
Additional paid-in capital	445,073	412,400
Accumulated other comprehensive income	(10,409)	(6,898)
Retained earnings	858,852	769,219
Treasury stock, at cost, 884,701 shares and 838,982 shares at April 3, 2021 and March 28, 2020, respectively	(63,826)	(56,981)
Total stockholders’ equity	1,229,951	1,117,999
Total liabilities and stockholders’ equity	$ 1,434,260	$ 1,321,912

Consolidated Balance Sheets (Parentheticals) - USD ($) $ in Thousands	Apr. 03, 2021	Mar. 28, 2020
Statement of Financial Position [Abstract]
Accounts receivable, allowance for doubtful accounts (in Dollars)	$ 1,792	$ 1,627
Intangible assets, accumulated amortization (in Dollars)	$ 63,371	$ 55,732
Preferred stock, par value (in Dollars per share)	$ 0.01	$ 0.01
Preferred stock, authorized	10,000,000	10,000,000
Preferred stock, issued
Preferred stock, outstanding
Common stock, par value (in Dollars per share)	$ 0.01	$ 0.01
Common stock, authorized	60,000,000	60,000,000
Common stock, issued	26,110,320	25,881,415
Treasury stock, shares	884,701	838,982

Consolidated Statements of Operations (Unaudited) - USD ($) $ in Thousands	12 Months Ended
	Apr. 03, 2021	Mar. 28, 2020	Mar. 30, 2019
Income Statement [Abstract]
Net sales	$ 608,984	$ 727,461	$ 702,516
Cost of sales	374,878	438,358	425,863
Gross margin	234,106	289,103	276,653
Operating expenses:
Selling, general and administrative	106,000	122,565	117,504
Other, net	16,648	9,753	27,114
Total operating expenses	122,648	132,318	144,618
Operating income	111,458	156,785	132,035
Interest expense, net	1,430	1,885	5,173
Other non-operating expense	(31)	761	772
Income before income taxes	110,059	154,139	126,090
Provision for income taxes	20,426	28,103	20,897
Net income	$ 89,633	$ 126,036	$ 105,193
Net income per common share:
Basic (in Dollars per share)	$ 3.61	$ 5.12	$ 4.32
Diluted (in Dollars per share)	$ 3.58	$ 5.06	$ 4.26
Weighted average common shares:
Basic (in Shares)	24,851,344	24,632,637	24,357,684
Diluted (in Shares)	25,048,451	24,922,631	24,716,213

Consolidated Statements of Comprehensive Income (Unaudited) - USD ($)
$ in Thousands

12 Months Ended

Apr. 03, 2021

Mar. 28, 2020

Mar. 30, 2019

Statement of Comprehensive Income [Abstract]

Net income

$ 89,633

$ 126,036

$ 105,193

Pension and postretirement liability adjustments, net of taxes

^[1]

(4,538)

(861)

332

Foreign currency translation adjustments

1,027

2,719

(5,514)

Total comprehensive income

$ 86,122

$ 127,894

$ 100,011

[1]	These adjustments were net of a tax benefit of $911, tax benefit of $262 and tax expense of $101 in fiscal 2021, 2020 and 2019, respectively.

- Definition

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

+ References

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+ Details

Consolidated Statements of Stockholders’ Equity - USD ($) $ in Thousands	Common Stock	Additional Paid-in Capital	Accumulated Other Comprehensive Income/(Loss)	Retained Earnings	Treasury Stock	Total
Balance at Mar. 31, 2018	$ 251	$ 339,148	$ (2,285)	$ 536,978	$ (39,540)	$ 834,552
Balance (in Shares) at Mar. 31, 2018	25,123,694				(713,687)
Net income				105,193		105,193
Share-based compensation		16,087				16,087
Repurchase of common stock					$ (5,232)	(5,232)
Repurchase of common stock (in Shares)					(39,226)
Exercise of equity awards	$ 5	23,266				23,271
Exercise of equity awards (in Shares)	352,552
Change in net prior service cost and actuarial losses, net of tax benefit			332			332
Issuance of restricted stock, net of forfeitures
Issuance of restricted stock, net of forfeitures (in Shares)	130,950
Other		154				154
Impact from adoption of ASU 2014-09				(277)		(277)
Currency translation adjustments			(5,514)			(5,514)
Balance at Mar. 30, 2019	$ 256	378,655	(7,467)	641,894	$ (44,772)	968,566
Balance (in Shares) at Mar. 30, 2019	25,607,196				(752,913)
Net income				126,036		126,036
Share-based compensation		20,150				20,150
Repurchase of common stock					$ (12,209)	(12,209)
Repurchase of common stock (in Shares)					(86,069)
Exercise of equity awards	$ 3	13,595				13,598
Exercise of equity awards (in Shares)	179,897
Change in net prior service cost and actuarial losses, net of tax benefit			(861)			(861)
Issuance of restricted stock, net of forfeitures (in Shares)	94,322
Impact from adoption of ASU 2018-02			(1,289)	1,289
Currency translation adjustments			2,719			2,719
Balance at Mar. 28, 2020	$ 259	412,400	(6,898)	769,219	$ (56,981)	1,117,999
Balance (in Shares) at Mar. 28, 2020	25,881,415				(838,982)
Net income				89,633		89,633
Share-based compensation		21,299				21,299
Repurchase of common stock					$ (6,845)	(6,845)
Repurchase of common stock (in Shares)					(45,719)
Exercise of equity awards	$ 2	11,374				11,376
Exercise of equity awards (in Shares)	141,767
Change in net prior service cost and actuarial losses, net of tax benefit			(4,538)			(4,538)
Issuance of restricted stock, net of forfeitures
Issuance of restricted stock, net of forfeitures (in Shares)	87,138
Currency translation adjustments			1,027			1,027
Balance at Apr. 03, 2021	$ 261	$ 445,073	$ (10,409)	$ 858,852	$ (63,826)	$ 1,229,951
Balance (in Shares) at Apr. 03, 2021	26,110,320				(884,701)

Consolidated Statements of Stockholders’ Equity (Parentheticals) - USD ($) $ in Thousands	12 Months Ended
	Apr. 03, 2021	Mar. 28, 2020	Mar. 30, 2019
Statement of Stockholders' Equity [Abstract]
Net prior service cost and actuarial losses, net of taxes	$ 911	$ 262	$ 101

Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	12 Months Ended
	Apr. 03, 2021	Mar. 28, 2020	Mar. 30, 2019
Cash flows from operating activities:
Net income	$ 89,633	$ 126,036	$ 105,193
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation	22,527	21,808	19,992
Deferred income taxes	1,509	6,502	(4,904)
Amortization of intangible assets	10,217	9,612	9,666
Amortization of deferred financing costs	472	506	921
Consolidation and restructuring charges	2,510	358	16,906
Loss on extinguishment of debt			987
Stock-based compensation	21,299	20,150	16,087
Loss/(gain) on disposition of assets	1,314	(1,227)	853
Changes in operating assets and liabilities, net of acquisitions:
Accounts receivable	18,969	3,305	(17,307)
Inventory	905	(25,371)	(37,841)
Prepaid expenses and other current assets	(353)	(3,878)	(506)
Other noncurrent assets	(10,904)	(3,946)	(6,331)
Accounts payable	(14,836)	837	5,881
Accrued expenses and other current liabilities	2,573	(14)	(2,475)
Other noncurrent liabilities	6,618	943	1,425
Net cash provided by operating activities	152,453	155,621	108,547
Cash flows from investing activities:
Purchase of property, plant and equipment	(11,772)	(37,297)	(41,346)
Acquisition of businesses, net of cash acquired	245	(33,842)
Purchase of marketable securities	(100,075)
Proceeds from sale of marketable securities	10,020
Proceeds from sale of assets	58	8,354	1,920
Proceeds from sale of business			22,284
Net cash used in investing activities	(101,524)	(62,785)	(17,142)
Cash flows from financing activities:
Proceeds from revolving credit facilities		9,435	149,250
Proceeds from term loans		15,383
Repayments of revolving credit facilities	(3,028)	(45,821)	(110,500)
Repayments of term loans	(4,362)		(168,750)
Finance fees paid in connection with credit facilities		(276)	(852)
Payments of notes payable	(504)	(477)	(471)
Repurchase of common stock	(6,845)	(12,209)	(5,232)
Exercise of stock options	11,376	13,598	23,271
Net cash used in financing activities	(3,363)	(20,367)	(113,284)
Effect of exchange rate changes on cash	265	902	(2,400)
Cash and cash equivalents:
Increase/(decrease) during the year	47,831	73,371	(24,279)
Cash and cash equivalents, at beginning of year	103,255	29,884	54,163
Cash and cash equivalents, at end of year	151,086	103,255	29,884
Cash paid for:
Income taxes	16,692	27,071	22,141
Interest	$ 1,080	$ 1,288	$ 4,228

Organization and Business

12 Months Ended

Apr. 03, 2021

Accounting Policies [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 and products, 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 16 years, we have broadened our end markets, products, customer base and geographic reach. We currently have 43 facilities in seven countries, of which 31 are manufacturing facilities.

The Company operates in four reportable business segments—roller bearings, plain bearings, ball bearings and engineered products—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 7% of the Company’s net sales in fiscal 2021 and no more than 9% of net sales in fiscal 2020 or fiscal 2019. The Company’s segments are further discussed in Note 19 “Reportable Segments.”

Summary of Significant Accounting Policies

12 Months Ended

Apr. 03, 2021

Accounting Policies [Abstract]

Summary of Significant Accounting Policies

2. Summary of Significant Accounting Policies

General

The consolidated financial statements include the accounts of RBC Bearings Incorporated, Roller Bearing Company of America, Inc. (“RBCA”) and its wholly-owned subsidiaries, Industrial Tectonics Bearings Corporation (“ITB”), RBC Nice Bearings, Inc. (“Nice”), RBC Precision Products - Bremen, Inc. (“Bremen (MBC)”), RBC Precision Products - Plymouth, Inc. (“Plymouth”), RBC Lubron Bearing Systems, Inc. (“Lubron”), RBC Oklahoma, Inc. (“RBC Oklahoma”), RBC Aircraft Products, Inc. (“API”), RBC Southwest Products, Inc. (“SWP”), All Power Manufacturing Co. (“All Power”), RBC Aerostructures LLC (“AeroS”), Western Precision Aero LLC (“WPA”), Climax Metal Products Company (“CMP”), RBC Turbine Components LLC (“TCI”), Sonic Industries, Inc. (“Sonic”), Sargent Aerospace and Defense LLC (“Sargent”), Airtomic LLC (“Airtomic”), Schaublin Holding S.A. and its wholly-owned subsidiaries Schaublin SA, RBC Bearings Polska sp. Z.o.o., RBC France SAS, Vianel Holding AG, Beck Bühler Mutschler Capital AG, Bär und Mettler AG, MBM Monstein Bär Mettler Modulare Werkzeugsysteme AG, Swiss Tool Systems AG and Schaublin GmbH (“Schaublin”), RBC de Mexico S DE RL DE CV (“Mexico”), RBC Bearings U.K. Limited, Allpower de Mexico S DE RL DE CV (“Tecate”) and RBC Bearings Canada, Inc. Divisions of RBCA include: RBC Corporate, RBC E-Shop, RBC Aerospace sales office and warehouse, Transport Dynamics (“TDC”), Heim (“Heim Bearings Company”), Engineered Components (“ECD”), RBC Aerocomponents (“AeroC”), PIC Design (“PIC Design”), RBC Hartsville, RBC West Trenton, RBC Bishopsville, RBC Eastern Distribution Center, Shanghai Representative office of Roller Bearing Company of America, Inc. (“RBC Shanghai”) and RBC Grand Prarie TX location. U.S. Bearings (“USB”) is a division of SWP and Schaublin USA is a division of Nice. 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 2021 contained 53 weeks and fiscal years 2020 and 2019 each contained 52 weeks. The amounts are shown in thousands, unless otherwise indicated.

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 and the valuation of options.

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. Long-term agreements (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 the customer purchase order, the type of good or service is defined on a line-by-line basis. Individual performance obligations are established by virtue of the individual line items identified on the sales order acknowledgment at the time of issuance. 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. The performance obligations for these services are also identified on the sales order acknowledgement at the time of issuance on a line-by-line basis.

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. For the majority of our contracts, the Company either provides distinct goods or services. Where both distinct goods and services are provided, we separate the contract into more than one performance obligation (i.e., a good or service is individually listed in a contract or sold individually to a customer). 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, consistent with the pattern of revenue recognition under the previous accounting standard. The Company has determined that the customer obtains control upon shipment of the product based on the shipping terms (either when it ships from RBC’s dock or when the product arrives at the customer’s dock) and recognizes revenue accordingly. Once a product has shipped, the customer is able to direct the use of, and obtain substantially all of the remaining benefits from, the asset. Approximately 96%, 95% and 94% of the Company’s revenue was recognized in this manner based on sales for the years ended April 3, 2021, March 28, 2020 and March 30, 2019, respectively.

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. Approximately 4%, 5% and 6% of the Company’s revenue was recognized in this manner based on sales for the years ended April 3, 2021, March 28, 2020 and March 30, 2019, respectively. 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 years ended April 3, 2021, March 28, 2020 and March 30, 2019, 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 we believe this measure best depicts the transfer of control to the customer, which occurs as we incur 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. Costs incurred to obtain a contract are primarily related to sales commissions and are expensed as incurred as they are generally not tied to specific customer contracts. 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.

Cash and Cash Equivalents and Marketable Securities

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 primarily with Bank of America, N.A., Credit Suisse Group AG and Wells Fargo & Company. The domestic balances are insured by the Federal Deposit Insurance Company up to $250. The Company has not experienced any losses in such accounts.

At April 3, 2021, the Company held $90,249 of short-term marketable securities comprised of mutual funds as part of the Company’s investment strategy. These investments are measured at fair value by using quoted prices in active markets and are classified as Level 1 of the valuation hierarchy. These mutual funds can be liquidated at the Company’s discretion. They are held for investment and are not considered debt securities. Preservation of principal is the primary goal of our cash and investment policy. Pursuant to our established investment guidelines, we strive to achieve high levels of credit quality, liquidity and diversification. Our investment guidelines do not permit us to invest in puts, calls, strips, short sales, straddles, options, commodities, precious metals, futures or investments on margin.

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 no concentrations of credit risk with any one customer greater than approximately 7% of accounts receivables at April 3, 2021 and 7% at March 28, 2020.

Inventory

Inventories are 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)

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 assets on the consolidated balance sheets.

Property, Plant and Equipment

Property, plant and equipment are recorded at cost. Depreciation and amortization of property, plant and equipment, is provided for by 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

The Company adopted ASC 842, Leases, on March 31, 2019. The Company has elected not to apply the recognition requirements to short-term leases, and recognizes lease payments in the income statement on a straight-line basis over the lease term and variable payments in the period in which the obligation for those payments is incurred. The Company has elected the following practical expedients (which must be elected as a package and applied consistently to all leases): an entity need not reassess whether any expired or existing contracts are or contain leases; an entity need not reassess the lease classification for any expired or existing leases; and an entity need not reassess initial direct costs for any existing leases. The Company has also elected the practical expedient that permits the inclusion of lease and nonlease components as a single component and accounts for it as a lease; this election has been made for all asset classes. We also elected the hindsight practical expedient to determine the reasonably certain lease term for existing leases, which resulted in the extension of lease terms for certain existing 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.

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.

Lease expense for operating leases is recognized on a straight-line basis over the lease term as an operating expense while the expense for finance leases is recognized as depreciation expense and interest expense using the accelerated interest method of recognition.

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 the current year. 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 up to the value of goodwill. 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 discount rates, revenue growth rates, terminal growth rates and cash flow projections. Discount rates, revenue growth rates and cash flow projections 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 2021 test was 9.5% 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 2021 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 137.4%. The fair value of the reporting units exceeds the carrying value by a minimum of 49.2% at each of the four reporting units. A decrease of 1.0% in our terminal growth rate would not result in impairment of goodwill for any of our reporting units. An increase of 1.0% in our discount rate would not result in impairment of goodwill for any of our reporting units. The Company performs the annual impairment testing during the fourth quarter of each fiscal year. Although no changes are expected, if the actual results of the Company are less favorable than the assumptions the Company makes regarding estimated cash flows, the Company may be required to record an impairment charge in the future.

Deferred Financing Costs

Deferred financing costs are amortized on a straight-line basis over the lives of the related credit agreements.

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. 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

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, 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.

Net Income Per Common Share

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

Diluted net income per common share is computed by dividing net income available 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 vesting or exercise of stock awards.

The table below reflects the calculation of weighted-average shares outstanding for each year presented as well as the computation of basic and diluted net income per common share:

	Fiscal Year Ended
	April 3, 2021		March 28, 2020		March 30, 2019
Net income	$	89,633	$	126,036	$	105,193
Denominator:
Denominator for basic net income per common share—weighted-average shares		24,851,344		24,632,637		24,357,684
Effect of dilution due to employee stock options		197,107		289,994		358,529
Denominator for diluted net income per common share—adjusted weighted-average shares		25,048,451		24,922,631		24,716,213
Basic net income per common share	$	3.61	$	5.12	$	4.32
Diluted net income per common share	$	3.58	$	5.06	$	4.26

At April 3, 2021, 457,324 employee stock options and 35,780 restricted shares have been excluded from the calculation of diluted earnings per share. At March 28, 2020, 350,540 employee stock options and 1,350 restricted shares have been excluded from the calculation of diluted earnings per share. At March 30, 2019, 256,990 employee stock options and 1,500 restricted shares have been excluded from the calculation of diluted earnings per share. The inclusion of these employee stock options and restricted shares would be anti-dilutive.

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. To date, no indicators of impairment exist other than those resulting in the restructuring charges already recorded.

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

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 into U.S. dollars 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).

Fair Value of 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, short-term investments, accounts receivable, prepaids and other current assets, and 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 Revolver, Foreign Revolver and Foreign Term Loan approximate fair value, as these obligations have interest rates which vary in conjunction with current market conditions. The carrying value of the mortgage on our Schaublin building approximates fair value as the rates since entering into the mortgage in fiscal 2013 have not significantly changed. All borrowings have been classified as Level 2 in the valuation hierarchy.

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			Pension and Postretirement Liability			Total
Balance at March 28, 2020	$	(582	)	$	(6,316	)	$	(6,898	)
Amounts recorded in/ reclassified from accumulated other comprehensive loss		—			(4,538	)		(4,538	)
Net current period other comprehensive income		1,027			(4,538	)		(3,511	)
Balance at April 3, 2021	$	445		$	(10,854	)	$	(10,409	)

Share-Based Compensation

The Company recognizes compensation cost relating to all share-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.

Recent Accounting Pronouncements

Recent Accounting Standards Adopted

In September 2016, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2016-13, Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments, which changes how entities measure credit losses for most financial assets and certain other instruments that are not measured at fair value through net income. The guidance replaces the former incurred loss approach with a new expected credit loss impairment model. The new model applies to most financial assets measured at amortized cost and certain other instruments, including trade and other receivables, loans, held-to-maturity debt instruments, net investments in leases, loan commitments and standby letters of credit. Upon initial recognition of the exposure, the expected credit loss model requires entities 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. ASU 2016-13 does not prescribe a specific method to make the estimate, so its application requires significant judgment. The Company adopted this accounting standard update in the first quarter of fiscal 2021 and it did not have a material impact on the Company’s consolidated financial statements.

In January 2017, the FASB issued ASU No. 2017-04, Intangibles – Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment. The objective of this standard update is to simplify the subsequent measurement of goodwill, eliminating Step 2 from the goodwill impairment test. Under this ASU, an entity should perform its annual goodwill impairment test by comparing the fair value of a reporting unit with its carrying amount. An entity would recognize an impairment charge for the amount by which the carrying amount exceeds the reporting unit’s fair value, assuming the loss recognized does not exceed the total amount of goodwill for the reporting unit. The adoption of this ASU did not have a material impact on the Company’s consolidated financial statements.

Recent Accounting Standards Yet to Be Adopted

In December 2019, the FASB issued ASU No. 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes. The objective of this standard update is to simplify the accounting for income taxes by removing certain exceptions to the general principles in Topic 740. This ASU also attempts to improve consistent application of and simplify GAAP for other areas of Topic 740 by clarifying and amending existing guidance. This standard update is effective for fiscal years beginning after December 15, 2020, including interim periods within those fiscal years. The Company is currently evaluating the effect that the adoption of this ASU will have on the Company’s consolidated financial statements.

Other new pronouncements issued but not effective until after April 3, 2021 are not expected to have a material impact on our financial position, results of operations or liquidity.

Revenue from Contracts with Customers

12 Months Ended

Apr. 03, 2021

Revenue from Contract with Customer [Abstract]

Revenue from Contracts with Customers

3. Revenue from Contracts with Customers

Disaggregation of Revenue

The Company operates in four business segments with similar economic characteristics, including nature of the products and production processes, distribution patterns and classes of customers. Revenue is disaggregated within these business segments by our two principal end markets: aerospace and industrial. Comparative information of the Company’s overall revenues for the years ended April 3, 2021, March 28, 2020 and March 30, 2019 are as follows:

Principal End Markets:

	For the Fiscal Year Ended
	April 3, 2021
	Aerospace		Industrial		Total
Plain	$	210,166	$	83,824	$	293,990
Roller		43,488		48,169		91,657
Ball		28,254		55,450		83,704
Engineered Products		71,173		68,460		139,633
	$	353,081	$	255,903	$	608,984

	For the Fiscal Year Ended
	March 28, 2020
	Aerospace		Industrial		Total
Plain	$	277,601	$	80,690	$	358,291
Roller		71,386		61,256		132,642
Ball		23,453		50,778		74,231
Engineered Products		96,806		65,491		162,297
	$	469,246	$	258,215	$	727,461

	For the Fiscal Year Ended
	March 30, 2019
	Aerospace		Industrial		Total
Plain	$	238,259	$	84,992	$	323,251
Roller		70,682		73,150		143,832
Ball		21,621		50,686		72,307
Engineered Products		100,571		62,555		163,126
	$	431,133	$	271,383	$	702,516

In addition to disaggregating revenue by segment and principal end markets, the Company believes information about the timing of transfer of goods or services, type of customer and distinguishing service revenue from product sales is also relevant. Refer to Note 2 – “Summary of Significant Accounting Policies – Revenue Recognition” for further details.

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 $265,021 at April 3, 2021. The Company expects to recognize revenue on approximately 60% and 83% 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 April 3, 2021 and March 28, 2020, current contract assets were $5,584 and $2,604, 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 April 3, 2021 and March 28, 2020, the Company did not have any contract assets classified as noncurrent on the consolidated balance sheets. There were no impairment losses related to the Company’s contract assets during the year ended April 3, 2021.

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 April 3, 2021 and March 28, 2020, current contract liabilities were $16,998 and $11,116, 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 April 3, 2021, the Company recognized revenues of $10,355 that were included in the contract liability balance as of March 28, 2020. For the year ended March 28, 2020, the Company recognized revenues of $7,849 that were included in the contract liability balance at March 30, 2019.

As of April 3, 2021 and March 28, 2020, noncurrent contract liabilities were $3,754 and $2,427, 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.

Accounts Receivable - As of April 3, 2021 and March 28, 2020, accounts receivable with customers, net, were $110,472 and $128,995, respectively.

- Definition

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

+ References

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

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 10
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130551-203045

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 13
-Subparagraph (b)(2)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130556-203045

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 9
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130550-203045

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (e)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (d)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 15
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130558-203045

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045

+ Details

Allowance for Doubtful Accounts

12 Months Ended

Apr. 03, 2021

Receivables [Abstract]

Allowance for Doubtful Accounts

4. 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
April 3, 2021	$	1,627	$	480	$	(86	)	$	(229	)	$	1,792
March 28, 2020		1,430		263		13			(79	)		1,627
March 30, 2019		1,326		203		(85	)		(14	)		1,430

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

Inventory

12 Months Ended

Apr. 03, 2021

Inventory Disclosure [Abstract]

Inventory

5. Inventory

Inventories are summarized below:

	April 3, 2021		March 28, 2020
Raw materials	$	57,764	$	51,362
Work in process		86,183		97,286
Finished goods		220,200		218,846
	$	364,147	$	367,494

Property, Plant and Equipment

12 Months Ended

Apr. 03, 2021

Property, Plant and Equipment [Abstract]

Property, Plant and Equipment

6. Property, Plant and Equipment

Property, plant and equipment consist of the following:

	April 3, 2021			March 28, 2020
Land	$	17,658		$	17,621
Buildings and improvements		90,668			90,834
Machinery and equipment		322,949			321,580
		431,275			430,035
Less: accumulated depreciation and amortization		(223,011	)		(210,189	)
	$	208,264		$	219,846

Leases

12 Months Ended

Apr. 03, 2021

Disclosure Text Block [Abstract]

Leases

7. Leases

The Company enters into operating leases for manufacturing facilities, warehouses, sales offices, information technology equipment, plant equipment, vehicles and certain other equipment with varying end dates from April 2021 to March 2038, including renewal options.

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

Operating Leases:	April 3, 2021		March 28, 2020
Lease assets:
Operating lease assets, net	$	35,664	$	28,953

Lease liabilities:
Current operating lease liabilities		5,726		5,708
Long-term operating lease liabilities		29,982		23,396
Total operating lease liabilities	$	35,708	$	29,104

The Company did not have any finance leases as of April 3, 2021 or March 28, 2020. Cash paid included in the measurement of lease liabilities was $6,869 and $5,771 for the twelve-month periods ended April 3, 2021 and March 28, 2020, respectively. Lease assets obtained in exchange for new operating lease liabilities were $1,637 and $5,586 for the twelve-month periods ended April 3, 2021 and March 28, 2020, respectively. Lease modifications which resulted in newly obtained lease assets in exchange for new operating lease liabilities were $11,110 for the twelve-month period ended April 3, 2021 and were immaterial for the twelve-month period ended March 28, 2020.

Total operating lease expense was $7,647, $7,079 and $7,172 for the twelve-month periods ended April 3, 2021, March 28, 2020 and March 30, 2019, respectively. Short-term and variable lease expense were immaterial.

Future undiscounted lease payments for the remaining lease terms as of April 3, 2021, including renewal options reasonably certain of being exercised, are as follows:

	Operating Leases
Within one year	$	5,841
One to two years		5,267
Two to three years		3,921
Three to four years		3,724
Four to five years		3,360
Thereafter		21,286
Total future undiscounted lease payments		43,399
Less: imputed interest		(7,691	)
Total operating lease liabilities	$	35,708

The weighted-average remaining lease term on April 3, 2021 for our operating leases is 11.4 years. The weighted-average discount rate on April 3, 2021 for our operating leases is 4.0%.

Acquisition

12 Months Ended

Apr. 03, 2021

Disclosure Text Block Supplement [Abstract]

Acquisition

8. Acquisition

On August 15, 2019, the Company, through its Schaublin SA subsidiary, acquired all of the outstanding shares of Swiss Tool for a purchase price of approximately $33,597 (CHF 32,768). We have finalized the purchase price allocation with no material adjustments subsequent to March 28, 2020.

Restructuring and Consolidation

12 Months Ended

Apr. 03, 2021

Restructuring and Related Activities [Abstract]

Restructuring and Consolidation

9. Restructuring and Consolidation

Throughout fiscal 2021, the Company consolidated certain manufacturing facilities to increase efficiencies of our operations. This resulted in $7,247 of restructuring charges incurred during the year, including $3,071 of inventory rationalization costs included within cost of sales, $1,994 of which were attributable to the Roller segment and $1,077 of which were attributable to the Plain segment. The restructuring charges also included $1,314 of fixed asset disposals included within other operating costs, a $138 lease impairment charge, $681 of personnel-related costs and $2,043 of other items. Of these $4,176 of other operating costs, $1,595 are related to the Plain segment, $823 are related to the Roller segment, $21 are related to the Ball segment, $1,120 are related to the Engineered Products segment and $617 are Corporate costs. The Company secured operating lease assets obtained in exchange for new operating lease liabilities of $7,662 as part of this restructuring. The Company anticipates additional costs associated with these consolidation efforts of $250 to $500 to be incurred in the first quarter of fiscal 2022.

Goodwill and Intangible Assets

12 Months Ended

Apr. 03, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets

10. Goodwill and Intangible Assets

Goodwill

Goodwill balances, by segment, consist of the following:

	Roller		Plain		Ball		Engineered Products			Total
March 28, 2020	$	16,007	$	79,597	$	5,623	$	176,549		$	277,776
Acquisition ⁽¹⁾		—		—		—		(383	)		(383	)
Translation adjustments		—		—		—		143			143
April 3, 2021	$	16,007	$	79,597	$	5,623	$	176,309		$	277,536

⁽¹⁾	Includes a reduction of goodwill recognized due to opening balance sheet adjustments made during the measurement period of the Company’s acquisition of Vianel Holding AG (“Swiss Tool”) on August 15, 2019.

Intangible Assets

			April 3, 2021				March 28, 2020
	Weighted Average Useful Lives		Gross Carrying Amount		Accumulated Amortization		Gross Carrying Amount		Accumulated Amortization
Product approvals		24	$	50,878	$	14,691	$	50,878	$	12,597
Customer relationships and lists		23		109,762		28,253		109,645		23,557
Trade names		10		16,333		10,392		16,330		8,906
Distributor agreements		5		722		722		722		722
Patents and trademarks		16		11,612		6,211		11,553		6,045
Domain names		10		437		437		437		437
Other		3		3,745		2,665		4,633		3,468
				193,489		63,371		194,198		55,732
Non-amortizable repair station certifications		n/a		24,281		—		24,281		—
Total		21	$	217,770	$	63,371	$	218,479	$	55,732

Amortization expense for definite-lived intangible assets during fiscal years 2021, 2020 and 2019 was $10,217, $9,612 and $9,666, respectively. Estimated amortization expense for the five succeeding fiscal years and thereafter is as follows:

2022	$	9,658
2023		9,462
2024		9,332
2025		9,245
2026		7,112
2027 and thereafter		85,309

Accrued Expenses and Other Current Liabilities

12 Months Ended

Apr. 03, 2021

Accrued Liabilities and Other 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:

	April 3, 2021		March 28, 2020
Employee compensation and related benefits	$	11,846	$	16,275
Taxes		2,896		2,751
Contract Liabilities		16,998		11,116
Workers compensation and insurance		2,915		3,500
Legal		380		250
Other		8,529		6,688
	$	43,564	$	40,580

Debt

12 Months Ended

Apr. 03, 2021

Debt Disclosure [Abstract]

Debt

12. Debt

Domestic Credit Facility

The Company’s credit agreement with Wells Fargo Bank, National Association, as Administrative Agent, Collateral Agent, Swingline Lender and Letter of Credit Issuer, and the other lenders party thereto (the “Credit Agreement”) provides the Company with a $250,000 revolving credit facility (the “Revolver”), which expires on January 31, 2024. Debt issuance costs associated with the Credit Agreement totaled $852 and will be amortized through January 31, 2024 along with the unamortized debt issuance costs remaining from the Company’s prior credit Agreement. As of April 3, 2021, $1,121 in unamortized debt issuance costs remain.

Amounts outstanding under the Revolver generally bear interest at (a) a base rate determined by reference to the higher of (1) Wells Fargo’s prime lending rate, (2) the federal funds effective rate plus 1/2 of 1% and (3) the one-month LIBOR rate plus 1%, or (b) LIBOR plus a specified margin, depending on the type of borrowing being made. The applicable margin is based on the Company’s consolidated ratio of total net debt to consolidated EBITDA at each measurement date. Currently, the Company’s margin is 0.00% for base rate loans and 0.75% for LIBOR loans.

The Credit Agreement requires the Company to comply with various covenants including, among other things, a financial covenant to maintain a ratio of consolidated net debt to adjusted EBITDA not greater than 3.50 to 1. The Credit Agreement allows the Company to, among other things, make distributions to shareholders, 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. As of April 3, 2021, the Company was in compliance with all such covenants.

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

Approximately $3,550 of the Revolver is being utilized to provide letters of credit to secure the Company’s obligations relating to certain insurance programs. The Company has the ability to borrow up to an additional $246,450 under the Revolver as of April 3, 2021.

Foreign Term Loan and Revolving Credit Facility

On August 15, 2019, one of our foreign subsidiaries, Schaublin SA (“Schaublin”), entered into two separate credit agreements (the “Foreign Credit Agreements”) with Credit Suisse (Switzerland) Ltd. to (i) finance the acquisition of Swiss Tool, which is discussed in further detail in Note 8, and (ii) provide future working capital. The Foreign Credit Agreements provided Schaublin with a CHF 15,000 (approximately $15,383) term loan (the “Foreign Term Loan”), which expires on July 31, 2024 and a CHF 15,000 (approximately $15,383) revolving credit facility (the “Foreign Revolver”), which continues in effect until terminated by either Schaublin or Credit Suisse. Debt issuance costs associated with the Foreign Credit Agreements totaled CHF 270 (approximately $277) and will be amortized throughout the life of the Foreign Credit Agreements. As of April 3, 2021, approximately $95 in unamortized debt issuance costs remain.

Amounts outstanding under the Foreign Term Loan and the Foreign Revolver generally bear interest at LIBOR plus a specified margin. The applicable margin is based on Schaublin’s ratio of total net debt to consolidated EBITDA at each measurement date. Currently, Schaublin’s margin is 1.00%.

The Foreign Credit Agreements require Schaublin to comply with various covenants, which are tested annually on March 31. These covenants include, among other things, a financial covenant to maintain a ratio of consolidated net debt to adjusted EBITDA not greater than 2.50 to 1 as of March 31, 2021 and thereafter. Schaublin is also required to maintain an economic equity of CHF 20,000 at all times. The Foreign Credit Agreements allow Schaublin to, among other things, incur other debt or liens and acquire or dispose of assets provided that Schaublin complies with certain requirements and limitations of the Foreign Credit Agreements. As of April 3, 2021, Schaublin was in compliance with all such covenants.

Schaublin’s parent company, Schaublin Holding, has guaranteed Schaublin’s obligations under the Foreign Credit Agreements. Schaublin Holding’s guaranty and the Foreign Credit Agreements are secured by a pledge of the capital stock of Schaublin. In addition, the Foreign Term Loan is secured with pledges of the capital stock of the top company and the three operating companies in the Swiss Tool System group of companies.

As of April 3, 2021, there was approximately $11,657 outstanding under the Foreign Term Loan and no amounts outstanding under the Foreign Revolver. Schaublin has the ability to borrow up to an additional $15,896 under the Foreign Revolver as of April 3, 2021.

Schaublin’s required future annual principal payments are approximately $2,119 for fiscal 2022, $3,179 for both fiscal 2023 and fiscal 2024 and $3,180 for fiscal 2025.

Other Notes Payable

In 2012 Schaublin purchased the land and building that it occupies for approximately $14,910. Schaublin obtained a 20-year fixed-rate mortgage of approximately $9,857 at an interest rate of 2.9%. The balance of the purchase price of approximately $5,053 was paid from cash on hand. The balance on this mortgage as of April 3, 2021 was approximately $5,666 and has been classified as Level 2 of the valuation hierarchy.

The Company’s required future annual principal payments are approximately $493 for each year from fiscal 2022 through fiscal 2026 and $3,201 thereafter.

The balances payable under all borrowing facilities are as follows:

	April 3, 2021			March 28, 2020
Revolver and term loan facilities	$	11,657		$	18,593
Debt issuance cost		(1,216	)		(1,687	)
Other		5,666			6,106
Total debt		16,107			23,012
Less: current portion		2,612			6,429
Long-term debt	$	13,495		$	16,583

The current portion of long-term debt as of April 3, 2021 includes the current portion of the Foreign Term Loan and the Schaublin mortgage. The current portion of long-term debt as of March 28, 2020 includes the current portion of the Foreign Term Loan, Foreign Revolver and the Schaublin mortgage.

Other Non-Current Liabilities

12 Months Ended

Apr. 03, 2021

Other Liabilities, Noncurrent [Abstract]

Other Non-Current Liabilities

13. Other Noncurrent Liabilities

The significant components of other noncurrent liabilities consist of:

	April 3, 2021		March 28, 2020
Other postretirement benefits	$	7,807	$	2,485
Noncurrent income tax liability		18,658		19,936
Deferred compensation		25,189		18,275
Contract liabilities		3,754		2,427
Other		8		496
	$	55,416	$	43,619

Employee Benefit Plans

12 Months Ended

Apr. 03, 2021

Retirement Benefits [Abstract]

Employee Benefit Plans

14. Employee Benefit Plans

At April 3, 2021, the Company has one consolidated noncontributory defined benefit pension plan covering union employees in its Heim division plant in Fairfield, Connecticut, its Plymouth 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 April 3, 2021 and March 28, 2020, plan assets were $27,238 and $26,381, respectively.

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

Benefits under the union plans are not a function of employees’ salaries; thus, the accumulated benefit obligation equals the projected benefit obligation. At April 3, 2021 and March 28, 2020, the projected benefit obligation was $25,380 and $25,260, respectively.

The discount rates used in determining the funded status as of April 3, 2021 and March 28, 2020 were 2.70% and 2.80%, respectively.

The funded status of the Company’s defined benefit pension plan and the amount recognized in the balance sheet at April 3, 2021 and March 28, 2020 were $1,858 and $1,121, respectively. These overfunded amounts are included within noncurrent assets on the consolidated balance sheets.

Net periodic benefit cost for fiscal years 2021, 2020 and 2019 was $529, $276 and $506, respectively. The discount rate used to determine net periodic benefit cost for fiscal years 2021, 2020 and 2019 was 2.80%, 3.50% and 3.70%, respectively.

Two of the Company’s foreign operations, Schaublin and Swiss Tool, sponsor pension plans for their approximately 136 and 32 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 April 3, 2021 were $5,250. For fiscal years 2021, 2020 and 2019, net periodic benefit cost for these plans was $1,123, $1,101 and $887, respectively.

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 $2,162, $2,212 and $1,889 in fiscal 2021, 2020 and 2019, respectively.

The Company maintains a non-qualified Supplemental Executive Retirement Plan (“SERP”) for a select group of senior management employees. When the SERP was initially adopted in 1996, it allowed eligible employees to elect to defer, until termination of their employment, the receipt of up to 25% of their salary. In August 2008, the plan was modified to allow eligible employees to elect to defer up to 75% of their current salary and up to 100% of bonus compensation. As of April 3, 2021 and March 28, 2020, the SERP assets were $27,856 and $18,944, respectively, and are included within other assets on the consolidated balance sheets. As of April 3, 2021 and March 28, 2020, the SERP liabilities were $24,178 and $16,141, respectively, and are included within accrued expenses and other current liabilities and other noncurrent liabilities on the balance sheets.

The Company, for the benefit of 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 $2,646 and $2,661 at April 3, 2021 and March 28, 2020, respectively. Of these amounts, $174 and $176 are considered current and are included within accrued expenses and other current liabilities on the consolidated balance sheets as of April 3, 2021 and March 28, 2020, respectively. The remainder of the balances are included in other noncurrent liabilities in the consolidated balance sheets.

- Definition

The entire disclosure for retirement benefits.

+ References

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+ Details

Income Taxes

12 Months Ended

Apr. 03, 2021

Income Tax Disclosure [Abstract]

Income Taxes

15. Income Taxes

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

	Fiscal Year Ended
	April 3, 2021		March 28, 2020		March 30, 2019
Domestic	$	105,434	$	148,154	$	115,747
Foreign		4,625		5,985		10,343
Total income before income taxes	$	110,059	$	154,139	$	126,090

The provision for income taxes consists of the following:

	Fiscal Year Ended
	April 3, 2021			March 28, 2020			March 30, 2019
Current tax expense:
Federal	$	15,171		$	16,370		$	18,200
State		1,100			2,578			2,908
Foreign		2,646			2,653			4,693
		18,917			21,601			25,801
Deferred tax expense:
Federal		336			6,210			(4,111	)
State		1,210			1,076			(756	)
Foreign		(37	)		(784	)		(37	)
		1,509			6,502			(4,904	)
Total income taxes	$	20,426		$	28,103		$	20,897

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
	April 3, 2021			March 28, 2020			March 30, 2019
Income taxes using U.S. federal statutory rate	$	23,113		$	32,369		$	26,479
State income taxes, net of federal benefit		2,083			2,851			1,714
Revaluation of deferred tax liabilities due to federal rate change		—			—			282
Stock-based compensation		(2,056	)		(3,834	)		(5,155	)
Foreign rate differential		1,638			613			2,484
Transition tax		—			135			(161	)
Research and development credits		(1,258	)		(1,737	)		(1,765	)
Company-owned life insurance		(1,173	)		334			(13	)
Foreign derived intangible income (FDII)		(1,088	)		(1,569	)		(1,772	)
U.S. unrecognized tax positions		4			(146	)		(951	)
Other - net		(837	)		(913	)		(245	)
	$	20,426		$	28,103		$	20,897

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

	April 3, 2021			March 28, 2020
Deferred tax assets:
Pension and postretirement benefits	$	1,021		$	591
Employee compensation accruals		7,080			4,886
Inventory		9,269			9,479
Operating lease liabilities		8,527			7,252
Stock compensation		6,132			5,289
Tax loss and credit carryforwards		10,942			9,726
State tax		1,441			1,460
Total gross deferred tax assets		44,412			38,683
Valuation allowance		(6,292	)		(4,250	)
Total deferred tax assets	$	38,120		$	34,433
Deferred tax liabilities:
Property, plant and equipment	$	(20,744	)	$	(21,029	)
Pension		—			(262	)
Operating lease assets		(8,492	)		(7,218	)
Other		(505	)		(603	)
Intangible assets		(25,557	)		(21,881	)
Total deferred tax liabilities	$	(55,298	)	$	(50,993	)

Total net deferred liabilities	$	(17,178	)	$	(16,560	)

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 April 3, 2021 the valuation allowance increased by $2,042, which pertained to an increase of U.S. federal and state credits. For the Company’s fiscal year ended March 28, 2020 the valuation allowance increased by $607, which pertained to an increase of U.S. federal and state credits. 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 April 3, 2021, the Company had state net operating loss carryovers in different jurisdictions at varying amounts up to $7,332, which expire at various dates through 2036. At April 3, 2021, the Company had foreign net operating loss carryovers in different jurisdictions at varying amounts up to $1,377 which will expire at various dates through fiscal 2026. At April 3, 2021, the Company had U.S. federal and state credits in different jurisdictions at varying amounts up to $7,364 which will expire at various dates through 2036. At April 3, 2021, the Company had foreign credits in different jurisdictions at varying amounts up to $936 which will expire at various dates through 2037.

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 has not been made for additional U.S. and foreign taxes at April 3, 2021 on approximately $27,349 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. 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 April 3, 2021 and March 28, 2020 would affect the effective income tax rate.

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

	April 3, 2021			March 28, 2020			March 30, 2019
Balance, beginning of year	$	14,212		$	13,479		$	11,935
Gross increases (decreases) – tax positions taken during a prior period		(166	)		123			624
Gross increases – tax positions taken during the current period		2,016			1,702			2,697
Reductions due to lapse of the applicable statute of limitations		(1,445	)		(1,092	)		(1,777	)
Balance, end of year	$	14,617		$	14,212		$	13,479

The Company recognizes the interest and penalties accrued related to unrecognized tax benefits in income tax expense. The Company recognized expense of $86, $213 and $45 of interest and penalties on its statement of operations for the fiscal years ended April 3, 2021, March 28, 2020 and March 30, 2019, respectively. The Company had approximately $1,492 and $1,406 of accrued interest and penalties at April 3, 2021 and March 28, 2020, 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 April 2, 2022 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 $1,513.

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 year ending April 2, 2005. The Company is no longer subject to U.S. federal tax examination by the Internal Revenue Service for years ending before March 31, 2018.

- Definition

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

+ References + Details

Stockholders' Equity

12 Months Ended

Apr. 03, 2021

Stockholders' Equity Note [Abstract]

Stockholders’ Equity

16. Stockholders’ Equity

Long-Term Equity Incentive Plans

2013 Long-Term Incentive Plan

The 2013 Long-Term Incentive Plan provides for grants of stock options, stock appreciation rights, restricted stock and performance awards. The purpose of the Plan is to provide our directors, officers and other employees and persons who engage in services for us with incentives to maximize stockholder value and otherwise contribute to our success and to enable us 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 the Plan, 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 may grant shares of restricted stock to its employees and directors in the future under the Plan. The Company’s Compensation Committee administers the Plan. The Company’s Board also has the authority to administer the Plan and to take all actions that the Compensation Committee is otherwise authorized to take under the Plan. The terms and conditions of each award made under the Plan, including vesting requirements, is set forth consistent with the Plan in a written agreement with the grantee.

2017 Long-Term Incentive Plan

The 2017 Long-Term Incentive Plan provides for grants of stock options, stock appreciation rights, restricted stock and performance awards. Directors, officers and other employees and persons who engage in services for the Company are eligible for grants under the Plan. The purpose of the Plan 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.

Stock Options. Under the 2013 and 2017 Long-Term Incentive Plans, the Compensation Committee or the Board may approve the award of grants of incentive stock options and other 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 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 Plan, and it may not approve an award of incentive options first exercisable in any calendar year whose underlying shares have a fair market value greater than $100 determined at the time of grant. 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. Under the 2013 Long-Term Incentive Plan, any incentive stock option must be exercised within seven years of the date of grant. Under the 2017 Long-Term Incentive Plan, any incentive stock option must be exercised within seven years of the date of grant. Under both Plans, the exercise price of an incentive option awarded to a person who owns stock constituting more than 10% of the Company’s voting power may not be less than 110% of such fair market value on such date and the option must be exercised within five years of the date of grant. There were 237,228 outstanding options to purchase shares of common stock granted under the 2013 Long-Term Incentive Plan, 113,734 of which were exercisable. There were 458,174 outstanding options to purchase shares of common stock granted under the 2017 Long-Term Incentive Plan, 89,575 of which were exercisable.

Restricted Stock. Under the 2013 and 2017 Long-Term Incentive 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 the 2017 Long-Term Incentive Plan, the number of shares that may be used for restricted stock or restricted unit grants under the Plan may not exceed 50% of the total authorized number of shares under the Plan. As of April 3, 2021, there were 63,459 and 183,391 shares of restricted stock outstanding under the 2013 and 2017 Long-Term Incentive Plans, respectively.

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 Plan. Under the 2013 and 2017 Long-Term Incentive Plans, the exercise price of a SAR must equal the fair market value of a share of the Company’s common stock on the date the SAR was granted. Upon exercise of a 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 2013 or 2017 Long-Term Incentive Plans as of April 3, 2021.

Performance Awards. The Compensation Committee may approve the grant of performance awards contingent upon achievement by the grantee 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. There were no performance awards issued or outstanding under the 2013 or 2017 Long-Term Incentive Plans as of April 3, 2021.

Amendment and Termination of the Plans. The Board may amend or terminate the 2013 and 2017 Long-Term Incentive Plans at its discretion, except that no amendment will become effective without prior approval of the Company’s stockholders if such approval is necessary for continued compliance with the performance-based compensation exception of Section 162(m) of the Internal Revenue Code or any stock exchange listing requirements. Subject to the provisions of an Award Agreement, which may be more restrictive, no termination of the Plan shall materially and adversely affect any of the rights or obligations of any person, without his or her written consent, under any grant of options or other incentives theretofore granted under the Plan.

A summary of the status of the Company’s stock options outstanding as of April 3, 2021 and changes during the year then ended is presented below. All cashless exercises of options and warrants are handled through an independent broker.

	Number Of Common Stock Options			Weighted Average Exercise Price		Weighted Average Contractual Life (Years)		Intrinsic Value
Outstanding, March 28, 2020		713,911		$	111.41		4.5	$	9,270
Awarded		137,210			145.59
Exercised		(141,767	)		80.24
Forfeitures		(13,952	)		124.90
Outstanding, April 3, 2021		695,402		$	124.24		4.4	$	51,391

Exercisable, April 3, 2021		203,309		$	110.77		3.6	$	17,763

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
	April 3, 2021			March 28, 2020			March 30, 2019
Dividend yield		0.00	%		0.00	%		0.00	%
Expected weighted-average life (yrs.)		5.0			5.0			5.0
Risk-free interest rate		0.35	%		1.82	%		2.77	%
Expected volatility		41.35	%		26.93	%		25.16	%

The weighted average fair value per share of options granted was $52.78 in fiscal 2021, $39.34 in fiscal 2020 and $37.02 in fiscal 2019.

The Company recorded $4,494 (net of taxes of $1,351) in compensation in fiscal 2021 related to option awards. As of April 3, 2021, there was $15,079 of unrecognized compensation costs related to options which is expected to be recognized over a weighted average period of 3.3 years. The total intrinsic value of options exercised in fiscal 2021, 2020 and 2019 was $12,726, $15,273 and $26,060, respectively.

Of the total awards outstanding at April 3, 2021, 687,092 are either fully vested or are expected to vest. These shares have a weighted average exercise price of $124.06, an intrinsic value of $50,897 and a weighted average contractual term of 4.4 years.

A summary of the status of the Company’s restricted stock outstanding as of April 3, 2021 and the changes during the year then ended is presented below.

	Number Of Restricted Stock Shares			Weighted- Average Grant Date Fair Value
Non-vested, March 28, 2020		288,710		$	125.54
Granted		94,205			153.70
Vested		(128,998	)		117.34
Forfeitures		(7,067	)		131.72
Non-vested, April 3, 2021		246,850		$	140.39

The weighted average fair value per share of restricted stock awards granted was $153.70 in fiscal 2021, $145.72 in fiscal 2020 and $133.05 in fiscal 2019.

The Company recorded $11,881 (net of taxes of $3,573) in compensation in fiscal 2021 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 2021, 2020, and 2019 was $19,470, $19,916 and $15,819, respectively. Unrecognized expense for restricted stock was $24,848 at April 3, 2021. This cost is expected to be recognized over a weighted average period of approximately 2.7 years.

Commitments and Contingencies

12 Months Ended

Apr. 03, 2021

Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingencies

17. Commitments and Contingencies

As of April 3, 2021, approximately 8.2% 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 2021, 2020 and 2019, 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 2022 or 2023.

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 and a corrective action plan at the Company’s property in Clayton, Georgia. 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. In connection with the purchase of the Company’s Clayton, Georgia property, the Company agreed to take assignment of the hazardous waste permit covering such facility and to assume certain responsibilities to implement a corrective action plan concerning the remediation of certain soil and groundwater contamination present at that facility. The corrective action plan is ongoing. Although there can be no assurance, the Company does not expect the costs associated with the above sites to be material.

From time to time, we are involved in litigation and administrative proceedings which arise in the ordinary course of our business. We do not believe that any litigation or proceeding 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.

Other, Net

12 Months Ended

Apr. 03, 2021

Other Income and Expenses [Abstract]

Other, Net

18. Other, Net

Other, net is comprised of the following:

	Fiscal Year Ended
	April 3, 2021		March 28, 2020			March 30, 2019
Plant consolidation and restructuring costs	$	2,862	$	1,087		$	16,906
Acquisition costs		—		901			—
Provision for doubtful accounts		480		263			203
Amortization of intangibles		10,217		9,612			9,666
Loss (gain) on disposal of assets		1,314		(1,227	)		853
Other expense (income)		1,775		(883	)		(514	)
	$	16,648	$	9,753		$	27,114

Reportable Segments

12 Months Ended

Apr. 03, 2021

Segment Reporting [Abstract]

Reportable Segments

19. Reportable Segments

The Company operates through operating segments for which separate financial information is available, and for which operating results are evaluated regularly by the Company’s chief operating decision maker in determining resource allocation and assessing performance. Those operating segments with similar economic characteristics and that meet all other required criteria, including nature of the products and production processes, distribution patterns and classes of customers, are aggregated as reportable segments.

The Company has four reportable business segments, Plain Bearings, Roller Bearings, Ball Bearings and Engineered Products, which are described below.

Plain Bearings. Plain bearings are produced with either self-lubricating or metal-to-metal designs and consist of several sub-classes, including rod end bearings, spherical plain bearings and journal bearings. Unlike ball bearings, which are used in high-speed rotational applications, plain bearings are primarily used to rectify inevitable misalignments in various mechanical components.

Roller Bearings. Roller bearings are anti-friction bearings that use rollers instead of balls. The Company manufactures four basic types of roller bearings: heavy duty needle roller bearings with inner rings, tapered roller bearings, track rollers and aircraft roller bearings.

Ball Bearings. The Company manufactures four basic types of ball bearings: high precision aerospace, airframe control, thin section and commercial ball bearings which are used in high-speed rotational applications.

Engineered Products. Engineered Products consist of highly engineered hydraulics, fasteners, collets, tool holders and precision components used in aerospace, marine and industrial applications.

The accounting policies of the reportable segments are the same as those described in Note 2 “Summary of Significant Accounting Policies.” 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. Identifiable assets by reportable segment consist of those directly identified with the segment’s operations.

	Fiscal Year Ended
	April 3, 2021			March 28, 2020			March 30, 2019
Net External Sales
Plain	$	293,990		$	358,291		$	323,251
Roller		91,657			132,642			143,832
Ball		83,704			74,231			72,307
Engineered Products		139,633			162,297			163,126
	$	608,984		$	727,461		$	702,516
Gross Margin
Plain	$	118,535		$	144,958		$	129,297
Roller		31,616			55,519			61,559
Ball		37,058			33,041			29,846
Engineered Products		46,897			55,585			55,951
	$	234,106		$	289,103		$	276,653
Selling, General and Administrative Expenses
Plain	$	21,630		$	26,256		$	25,617
Roller		4,744			6,359			6,266
Ball		5,354			6,481			6,428
Engineered Products		15,388			17,739			19,664
Corporate		58,884			65,730			59,529
	$	106,000		$	122,565		$	117,504
Operating Income
Plain	$	92,080		$	115,028		$	100,048
Roller		26,048			48,615			55,148
Ball		31,592			26,454			23,222
Engineered Products		25,593			32,266			16,183
Corporate		(63,855	)		(65,578	)		(62,566	)
	$	111,458		$	156,785		$	132,035
Total Assets
Plain	$	415,222		$	423,925		$	393,014
Roller		152,323			179,711			166,733
Ball		68,126			70,138			66,443
Engineered Products		513,962			504,649			458,058
Corporate		284,627			143,489			63,119
	$	1,434,260		$	1,321,912		$	1,147,367

Capital Expenditures
Plain	$	4,530		$	13,695		$	13,185
Roller		2,099			6,362			5,328
Ball		1,375			2,420			3,276
Engineered Products		3,619			14,645			18,715
Corporate		149			175			842
	$	11,772		$	37,297		$	41,346
Depreciation & Amortization
Plain	$	10,518		$	10,230		$	9,849
Roller		4,161			4,339			4,029
Ball		2,351			2,199			1,971
Engineered Products		12,484			11,442			10,412
Corporate		3,230			3,210			3,397
	$	32,744		$	31,420		$	29,658
Geographic External Sales
Domestic	$	546,018		$	651,381		$	633,381
Foreign		62,966			76,080			69,135
	$	608,984		$	727,461		$	702,516

	Fiscal Year Ended
	April 3, 2021		March 28, 2020		March 30, 2019
Geographic Long-Lived Assets
Domestic	$	188,366	$	190,215	$	165,533
Foreign		55,562		58,584		42,362
	$	243,928	$	248,799	$	207,895
Intersegment Sales
Plain	$	5,547	$	6,687	$	6,292
Roller		8,812		15,579		14,650
Ball		2,554		2,947		3,363
Engineered Products		32,687		44,964		38,948
	$	49,600	$	70,177	$	63,253

The net loss of $16,544 related to the sale of the Miami division during fiscal 2019 was included within the Engineered Products segment and was recognized within other, net on the consolidated statements of operations. All intersegment sales are eliminated in consolidation.

- 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

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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+ Details

Accounting Policies, by Policy (Policies)

12 Months Ended

Apr. 03, 2021

Accounting Policies [Abstract]

General

General

Use of Estimates

Use of Estimates

Revenue Recognition

Revenue Recognition

Cash and Cash Equivalents and Marketable Securities

Cash and Cash Equivalents and Marketable Securities

Accounts Receivable, Net and Concentration of Credit Risk

Accounts Receivable, Net and Concentration of Credit Risk

Inventory

Inventory

Contract Assets (Unbilled Receivables)

Contract Assets (Unbilled Receivables)

Property, Plant and Equipment

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

Leases

Goodwill and Indefinite-Lived Intangible Assets

Goodwill and Indefinite-Lived Intangible Assets

Deferred Financing Costs

Deferred Financing Costs

Deferred financing costs are amortized on a straight-line basis over the lives of the related credit agreements.

Contract Liabilities (Deferred Revenue)

Contract Liabilities (Deferred Revenue)

Income Taxes

Income Taxes

Net Income Per Common Share

Net Income Per Common Share

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

The table below reflects the calculation of weighted-average shares outstanding for each year presented as well as the computation of basic and diluted net income per common share:

	Fiscal Year Ended
	April 3, 2021		March 28, 2020		March 30, 2019
Net income	$	89,633	$	126,036	$	105,193
Denominator:
Denominator for basic net income per common share—weighted-average shares		24,851,344		24,632,637		24,357,684
Effect of dilution due to employee stock options		197,107		289,994		358,529
Denominator for diluted net income per common share—adjusted weighted-average shares		25,048,451		24,922,631		24,716,213
Basic net income per common share	$	3.61	$	5.12	$	4.32
Diluted net income per common share	$	3.58	$	5.06	$	4.26

Impairment of Long-Lived Assets

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

Foreign Currency Translation and Transactions

Fair Value of Measurements

Fair Value of Measurements

Accumulated Other Comprehensive Income (Loss)

Accumulated Other Comprehensive Income (Loss)

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

	Currency Translation			Pension and Postretirement Liability			Total
Balance at March 28, 2020	$	(582	)	$	(6,316	)	$	(6,898	)
Amounts recorded in/ reclassified from accumulated other comprehensive loss		—			(4,538	)		(4,538	)
Net current period other comprehensive income		1,027			(4,538	)		(3,511	)
Balance at April 3, 2021	$	445		$	(10,854	)	$	(10,409	)

Share-Based Compensation

Share-Based Compensation

Recent Accounting Standards Adopted

Recent Accounting Pronouncements

Recent Accounting Standards Adopted

Recent Accounting Standards Yet to Be Adopted

Recent Accounting Standards Yet to Be Adopted

Other new pronouncements issued but not effective until after April 3, 2021 are not expected to have a material impact on our financial position, results of operations or liquidity.

Summary of Significant Accounting Policies (Tables)

12 Months Ended

Apr. 03, 2021

Accounting Policies [Abstract]

Schedule of estimated useful lives

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 of basic and diluted net income per common share

	Fiscal Year Ended
	April 3, 2021		March 28, 2020		March 30, 2019
Net income	$	89,633	$	126,036	$	105,193
Denominator:
Denominator for basic net income per common share—weighted-average shares		24,851,344		24,632,637		24,357,684
Effect of dilution due to employee stock options		197,107		289,994		358,529
Denominator for diluted net income per common share—adjusted weighted-average shares		25,048,451		24,922,631		24,716,213
Basic net income per common share	$	3.61	$	5.12	$	4.32
Diluted net income per common share	$	3.58	$	5.06	$	4.26

Schedule of Accumulated Other Comprehensive Income (Loss)

	Currency Translation			Pension and Postretirement Liability			Total
Balance at March 28, 2020	$	(582	)	$	(6,316	)	$	(6,898	)
Amounts recorded in/ reclassified from accumulated other comprehensive loss		—			(4,538	)		(4,538	)
Net current period other comprehensive income		1,027			(4,538	)		(3,511	)
Balance at April 3, 2021	$	445		$	(10,854	)	$	(10,409	)

Revenue from Contracts with Customers (Tables)

12 Months Ended

Apr. 03, 2021

Revenue from Contract with Customer [Abstract]

Schedule of revenue from business segments of customers

	For the Fiscal Year Ended
	April 3, 2021
	Aerospace		Industrial		Total
Plain	$	210,166	$	83,824	$	293,990
Roller		43,488		48,169		91,657
Ball		28,254		55,450		83,704
Engineered Products		71,173		68,460		139,633
	$	353,081	$	255,903	$	608,984

	For the Fiscal Year Ended
	March 28, 2020
	Aerospace		Industrial		Total
Plain	$	277,601	$	80,690	$	358,291
Roller		71,386		61,256		132,642
Ball		23,453		50,778		74,231
Engineered Products		96,806		65,491		162,297
	$	469,246	$	258,215	$	727,461

	For the Fiscal Year Ended
	March 30, 2019
	Aerospace		Industrial		Total
Plain	$	238,259	$	84,992	$	323,251
Roller		70,682		73,150		143,832
Ball		21,621		50,686		72,307
Engineered Products		100,571		62,555		163,126
	$	431,133	$	271,383	$	702,516

Allowance for Doubtful Accounts (Tables)

12 Months Ended

Apr. 03, 2021

Receivables [Abstract]

Schedule of allowance for doubtful accounts consists

Fiscal Year Ended	Balance at Beginning of Year		Additions		Other*			Write-offs			Balance at End of Year
April 3, 2021	$	1,627	$	480	$	(86	)	$	(229	)	$	1,792
March 28, 2020		1,430		263		13			(79	)		1,627
March 30, 2019		1,326		203		(85	)		(14	)		1,430

Inventory (Tables)

12 Months Ended

Apr. 03, 2021

Inventory Disclosure [Abstract]

Schedule of inventory

	April 3, 2021		March 28, 2020
Raw materials	$	57,764	$	51,362
Work in process		86,183		97,286
Finished goods		220,200		218,846
	$	364,147	$	367,494

Property, Plant and Equipment (Tables)

12 Months Ended

Apr. 03, 2021

Property, Plant and Equipment [Abstract]

Schedule of property plant and equipment

	April 3, 2021			March 28, 2020
Land	$	17,658		$	17,621
Buildings and improvements		90,668			90,834
Machinery and equipment		322,949			321,580
		431,275			430,035
Less: accumulated depreciation and amortization		(223,011	)		(210,189	)
	$	208,264		$	219,846

Leases (Tables)

12 Months Ended

Apr. 03, 2021

Disclosure Text Block [Abstract]

Schedule of operating leases

Operating Leases:	April 3, 2021		March 28, 2020
Lease assets:
Operating lease assets, net	$	35,664	$	28,953

Lease liabilities:
Current operating lease liabilities		5,726		5,708
Long-term operating lease liabilities		29,982		23,396
Total operating lease liabilities	$	35,708	$	29,104

Schedule of future undiscounted lease payments

	Operating Leases
Within one year	$	5,841
One to two years		5,267
Two to three years		3,921
Three to four years		3,724
Four to five years		3,360
Thereafter		21,286
Total future undiscounted lease payments		43,399
Less: imputed interest		(7,691	)
Total operating lease liabilities	$	35,708

Goodwill and Intangible Assets (Tables)

12 Months Ended

Apr. 03, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of goodwill

	Roller		Plain		Ball		Engineered Products			Total
March 28, 2020	$	16,007	$	79,597	$	5,623	$	176,549		$	277,776
Acquisition ⁽¹⁾		—		—		—		(383	)		(383	)
Translation adjustments		—		—		—		143			143
April 3, 2021	$	16,007	$	79,597	$	5,623	$	176,309		$	277,536

⁽¹⁾	Includes a reduction of goodwill recognized due to opening balance sheet adjustments made during the measurement period of the Company’s acquisition of Vianel Holding AG (“Swiss Tool”) on August 15, 2019.

Schedule of intangible assets

			April 3, 2021				March 28, 2020
	Weighted Average Useful Lives		Gross Carrying Amount		Accumulated Amortization		Gross Carrying Amount		Accumulated Amortization
Product approvals		24	$	50,878	$	14,691	$	50,878	$	12,597
Customer relationships and lists		23		109,762		28,253		109,645		23,557
Trade names		10		16,333		10,392		16,330		8,906
Distributor agreements		5		722		722		722		722
Patents and trademarks		16		11,612		6,211		11,553		6,045
Domain names		10		437		437		437		437
Other		3		3,745		2,665		4,633		3,468
				193,489		63,371		194,198		55,732
Non-amortizable repair station certifications		n/a		24,281		—		24,281		—
Total		21	$	217,770	$	63,371	$	218,479	$	55,732

Schedule of estimated amortization expense for the five succeeding fiscal years

2022	$	9,658
2023		9,462
2024		9,332
2025		9,245
2026		7,112
2027 and thereafter		85,309

Accrued Expenses and Other Current Liabilities (Tables)

12 Months Ended

Apr. 03, 2021

Disclosure Text Block Supplement [Abstract]

Schedule of accrued expenses and other current liabilities

	April 3, 2021		March 28, 2020
Employee compensation and related benefits	$	11,846	$	16,275
Taxes		2,896		2,751
Contract Liabilities		16,998		11,116
Workers compensation and insurance		2,915		3,500
Legal		380		250
Other		8,529		6,688
	$	43,564	$	40,580

Debt (Tables)

12 Months Ended

Apr. 03, 2021

Debt Disclosure [Abstract]

Schedule of debt

	April 3, 2021			March 28, 2020
Revolver and term loan facilities	$	11,657		$	18,593
Debt issuance cost		(1,216	)		(1,687	)
Other		5,666			6,106
Total debt		16,107			23,012
Less: current portion		2,612			6,429
Long-term debt	$	13,495		$	16,583

Other Non-Current Liabilities (Tables)

12 Months Ended

Apr. 03, 2021

Other Liabilities, Noncurrent [Abstract]

Schedule of other non-current liabilities

	April 3, 2021		March 28, 2020
Other postretirement benefits	$	7,807	$	2,485
Noncurrent income tax liability		18,658		19,936
Deferred compensation		25,189		18,275
Contract liabilities		3,754		2,427
Other		8		496
	$	55,416	$	43,619

Income Taxes (Tables)

12 Months Ended

Apr. 03, 2021

Income Tax Disclosure [Abstract]

Schedule of income before income taxes for the Company’s domestic and foreign operations

	Fiscal Year Ended
	April 3, 2021		March 28, 2020		March 30, 2019
Domestic	$	105,434	$	148,154	$	115,747
Foreign		4,625		5,985		10,343
Total income before income taxes	$	110,059	$	154,139	$	126,090

Schedule of provision for income taxes

	Fiscal Year Ended
	April 3, 2021			March 28, 2020			March 30, 2019
Current tax expense:
Federal	$	15,171		$	16,370		$	18,200
State		1,100			2,578			2,908
Foreign		2,646			2,653			4,693
		18,917			21,601			25,801
Deferred tax expense:
Federal		336			6,210			(4,111	)
State		1,210			1,076			(756	)
Foreign		(37	)		(784	)		(37	)
		1,509			6,502			(4,904	)
Total income taxes	$	20,426		$	28,103		$	20,897

Schedule of provision for income taxes and amount computed by applying the U.S. statutory income tax rate to pre-tax income

	Fiscal Year Ended
	April 3, 2021			March 28, 2020			March 30, 2019
Income taxes using U.S. federal statutory rate	$	23,113		$	32,369		$	26,479
State income taxes, net of federal benefit		2,083			2,851			1,714
Revaluation of deferred tax liabilities due to federal rate change		—			—			282
Stock-based compensation		(2,056	)		(3,834	)		(5,155	)
Foreign rate differential		1,638			613			2,484
Transition tax		—			135			(161	)
Research and development credits		(1,258	)		(1,737	)		(1,765	)
Company-owned life insurance		(1,173	)		334			(13	)
Foreign derived intangible income (FDII)		(1,088	)		(1,569	)		(1,772	)
U.S. unrecognized tax positions		4			(146	)		(951	)
Other - net		(837	)		(913	)		(245	)
	$	20,426		$	28,103		$	20,897

Schedule of net deferred tax assets (liabilities)

	April 3, 2021			March 28, 2020
Deferred tax assets:
Pension and postretirement benefits	$	1,021		$	591
Employee compensation accruals		7,080			4,886
Inventory		9,269			9,479
Operating lease liabilities		8,527			7,252
Stock compensation		6,132			5,289
Tax loss and credit carryforwards		10,942			9,726
State tax		1,441			1,460
Total gross deferred tax assets		44,412			38,683
Valuation allowance		(6,292	)		(4,250	)
Total deferred tax assets	$	38,120		$	34,433
Deferred tax liabilities:
Property, plant and equipment	$	(20,744	)	$	(21,029	)
Pension		—			(262	)
Operating lease assets		(8,492	)		(7,218	)
Other		(505	)		(603	)
Intangible assets		(25,557	)		(21,881	)
Total deferred tax liabilities	$	(55,298	)	$	(50,993	)

Total net deferred liabilities	$	(17,178	)	$	(16,560	)

schedule of unrecognized tax benefits

	April 3, 2021			March 28, 2020			March 30, 2019
Balance, beginning of year	$	14,212		$	13,479		$	11,935
Gross increases (decreases) – tax positions taken during a prior period		(166	)		123			624
Gross increases – tax positions taken during the current period		2,016			1,702			2,697
Reductions due to lapse of the applicable statute of limitations		(1,445	)		(1,092	)		(1,777	)
Balance, end of year	$	14,617		$	14,212		$	13,479

Stockholders' Equity (Tables)

12 Months Ended

Apr. 03, 2021

Stockholders' Equity Note [Abstract]

Schedule of stock options outstanding

	Number Of Common Stock Options			Weighted Average Exercise Price		Weighted Average Contractual Life (Years)		Intrinsic Value
Outstanding, March 28, 2020		713,911		$	111.41		4.5	$	9,270
Awarded		137,210			145.59
Exercised		(141,767	)		80.24
Forfeitures		(13,952	)		124.90
Outstanding, April 3, 2021		695,402		$	124.24		4.4	$	51,391

Exercisable, April 3, 2021		203,309		$	110.77		3.6	$	17,763

Schedule of options was estimated at the date of grant using the Black-Scholes

	Fiscal Year Ended
	April 3, 2021			March 28, 2020			March 30, 2019
Dividend yield		0.00	%		0.00	%		0.00	%
Expected weighted-average life (yrs.)		5.0			5.0			5.0
Risk-free interest rate		0.35	%		1.82	%		2.77	%
Expected volatility		41.35	%		26.93	%		25.16	%

Schedule of restricted stock outstanding

	Number Of Restricted Stock Shares			Weighted- Average Grant Date Fair Value
Non-vested, March 28, 2020		288,710		$	125.54
Granted		94,205			153.70
Vested		(128,998	)		117.34
Forfeitures		(7,067	)		131.72
Non-vested, April 3, 2021		246,850		$	140.39

Other, Net (Tables)

12 Months Ended

Apr. 03, 2021

Other Income and Expenses [Abstract]

Schedule of other, net

	Fiscal Year Ended
	April 3, 2021		March 28, 2020			March 30, 2019
Plant consolidation and restructuring costs	$	2,862	$	1,087		$	16,906
Acquisition costs		—		901			—
Provision for doubtful accounts		480		263			203
Amortization of intangibles		10,217		9,612			9,666
Loss (gain) on disposal of assets		1,314		(1,227	)		853
Other expense (income)		1,775		(883	)		(514	)
	$	16,648	$	9,753		$	27,114

Reportable Segments (Tables)

12 Months Ended

Apr. 03, 2021

Segment Reporting [Abstract]

Schedule of segment information

	Fiscal Year Ended
	April 3, 2021			March 28, 2020			March 30, 2019
Net External Sales
Plain	$	293,990		$	358,291		$	323,251
Roller		91,657			132,642			143,832
Ball		83,704			74,231			72,307
Engineered Products		139,633			162,297			163,126
	$	608,984		$	727,461		$	702,516
Gross Margin
Plain	$	118,535		$	144,958		$	129,297
Roller		31,616			55,519			61,559
Ball		37,058			33,041			29,846
Engineered Products		46,897			55,585			55,951
	$	234,106		$	289,103		$	276,653
Selling, General and Administrative Expenses
Plain	$	21,630		$	26,256		$	25,617
Roller		4,744			6,359			6,266
Ball		5,354			6,481			6,428
Engineered Products		15,388			17,739			19,664
Corporate		58,884			65,730			59,529
	$	106,000		$	122,565		$	117,504
Operating Income
Plain	$	92,080		$	115,028		$	100,048
Roller		26,048			48,615			55,148
Ball		31,592			26,454			23,222
Engineered Products		25,593			32,266			16,183
Corporate		(63,855	)		(65,578	)		(62,566	)
	$	111,458		$	156,785		$	132,035
Total Assets
Plain	$	415,222		$	423,925		$	393,014
Roller		152,323			179,711			166,733
Ball		68,126			70,138			66,443
Engineered Products		513,962			504,649			458,058
Corporate		284,627			143,489			63,119
	$	1,434,260		$	1,321,912		$	1,147,367

Capital Expenditures
Plain	$	4,530		$	13,695		$	13,185
Roller		2,099			6,362			5,328
Ball		1,375			2,420			3,276
Engineered Products		3,619			14,645			18,715
Corporate		149			175			842
	$	11,772		$	37,297		$	41,346
Depreciation & Amortization
Plain	$	10,518		$	10,230		$	9,849
Roller		4,161			4,339			4,029
Ball		2,351			2,199			1,971
Engineered Products		12,484			11,442			10,412
Corporate		3,230			3,210			3,397
	$	32,744		$	31,420		$	29,658
Geographic External Sales
Domestic	$	546,018		$	651,381		$	633,381
Foreign		62,966			76,080			69,135
	$	608,984		$	727,461		$	702,516

	Fiscal Year Ended
	April 3, 2021		March 28, 2020		March 30, 2019
Geographic Long-Lived Assets
Domestic	$	188,366	$	190,215	$	165,533
Foreign		55,562		58,584		42,362
	$	243,928	$	248,799	$	207,895
Intersegment Sales
Plain	$	5,547	$	6,687	$	6,292
Roller		8,812		15,579		14,650
Ball		2,554		2,947		3,363
Engineered Products		32,687		44,964		38,948
	$	49,600	$	70,177	$	63,253

Organization and Business (Details)	12 Months Ended
Organization and Business (Details)	Apr. 03, 2021
Accounting Policies [Abstract]
Number of reportable segments	4
Concentration credit risk, description	No one customer accounted for more than 7% of the Company’s net sales in fiscal 2021 and no more than 9% of net sales in fiscal 2020 or fiscal 2019.

Summary of Significant Accounting Policies (Details) - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Apr. 03, 2021	Mar. 28, 2020	Mar. 30, 2019
Summary of Significant Accounting Policies (Details) [Line Items]
Percentage of revenue recognition	96.00%	95.00%	94.00%
Percentage on types of contracts	1.00%	1.00%	1.00%
Cash, FDIC insured amount (in Dollars)	$ 250
Short-term marketable securities funds (in Dollars)	$ 90,249
Goodwill and indefinite-lived intangible assets, description	The discount rate utilized for each reporting unit for our fiscal 2021 test was 9.5% 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 2021 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 137.4%. The fair value of the reporting units exceeds the carrying value by a minimum of 49.2% at each of the four reporting units. A decrease of 1.0% in our terminal growth rate would not result in impairment of goodwill for any of our reporting units. An increase of 1.0% in our discount rate would not result in impairment of goodwill for any of our reporting units.
Accounts Receivable [Member]
Summary of Significant Accounting Policies (Details) [Line Items]
Concentration risk, percentage	7.00%	7.00%
Sales [Member]
Summary of Significant Accounting Policies (Details) [Line Items]
Percentage of revenue recognition	4.00%	5.00%	6.00%
Restricted Stock [Member]
Summary of Significant Accounting Policies (Details) [Line Items]
Number of shares excluded from calculation of diluted earnings per share (in Shares)	35,780	1,350	1,500
Employee Stock Options [Member]
Summary of Significant Accounting Policies (Details) [Line Items]
Number of shares excluded from calculation of diluted earnings per share (in Shares)	457,324	350,540	256,990

Summary of Significant Accounting Policies (Details) - Schedule of estimated useful lives	12 Months Ended
	Apr. 03, 2021
Buildings and improvements [Member] \| Minimum [Member]
Summary of Significant Accounting Policies (Details) - Schedule of estimated useful lives [Line Items]
Property, plant and equipment, useful life	20 years
Buildings and improvements [Member] \| Maximum [Member]
Summary of Significant Accounting Policies (Details) - Schedule of estimated useful lives [Line Items]
Property, plant and equipment, useful life	30 years
Machinery and equipment [Member] \| Minimum [Member]
Summary of Significant Accounting Policies (Details) - Schedule of estimated useful lives [Line Items]
Property, plant and equipment, useful life	3 years
Machinery and equipment [Member] \| Maximum [Member]
Summary of Significant Accounting Policies (Details) - Schedule of estimated useful lives [Line Items]
Property, plant and equipment, useful life	15 years
Leasehold improvements [Member]
Summary of Significant Accounting Policies (Details) - Schedule of estimated useful lives [Line Items]
Property, plant and equipment, useful life, description	Shorter of the term of lease or estimated useful life

Summary of Significant Accounting Policies (Details) - Schedule of of basic and diluted net income per common share - weighted-average shares outstanding [Member] - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Apr. 03, 2021	Mar. 28, 2020	Mar. 30, 2019
Summary of Significant Accounting Policies (Details) - Schedule of of basic and diluted net income per common share [Line Items]
Net income (in Dollars)	$ 89,633	$ 126,036	$ 105,193
Denominator:
Denominator for basic net income per common share—weighted-average shares	24,851,344	24,632,637	24,357,684
Effect of dilution due to employee stock options	197,107	289,994	358,529
Denominator for diluted net income per common share—adjusted weighted-average shares	25,048,451	24,922,631	24,716,213
Basic net income per common share (in Dollars per share)	$ 3.61	$ 5.12	$ 4.32
Diluted net income per common share (in Dollars per share)	$ 3.58	$ 5.06	$ 4.26

- Definition

The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
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-URI http://asc.fasb.org/extlink&oid=109234566&loc=d3e22583-107794

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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-Paragraph 11
-Subparagraph (b)
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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-URI http://asc.fasb.org/extlink&oid=121326447&loc=d3e1448-109256

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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-SubTopic 10
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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/exampleRef
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-Name Accounting Standards Codification
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
-Topic 944
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-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(23))
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
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Reference 11: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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-Paragraph 1
-Subparagraph (SX 210.9-04(27))
-URI http://asc.fasb.org/extlink&oid=120399700&loc=SL114874048-224260

+ Details

- Definition

The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.

+ References

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

- Definition

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

+ References

+ Details

Summary of Significant Accounting Policies (Details) - Schedule of Accumulated Other Comprehensive Income (Loss) - USD ($)
$ in Thousands

12 Months Ended

Apr. 03, 2021

Mar. 28, 2020

Mar. 30, 2019

Schedule of Accumulated Other Comprehensive Income (Loss) [Abstract]

Balance at beginning, currency translation

$ (582)

Balance at beginning, pension and postretirement liability

(6,316)

Balance at beginning

(6,898)

Amounts recorded in/ reclassified from accumulated other comprehensive loss, currency translation

Amounts recorded in/ reclassified from accumulated other comprehensive loss, Pension and Postretirement Liability

(4,538)

Amounts recorded in/ reclassified from accumulated other comprehensive loss,

(4,538)

Net current period other comprehensive income, Currency Translation

1,027

$ 2,719

$ (5,514)

Net current period other comprehensive income, Pension and Postretirement Liability

^[1]

(4,538)

(861)

$ 332

Net current period other comprehensive income

(3,511)

Balance at ending, currency translation

445

(582)

Balance at ending, pension and postretirement liability

(10,854)

(6,316)

Balance at ending

$ (10,409)

$ (6,898)

[1]	These adjustments were net of a tax benefit of $911, tax benefit of $262 and tax expense of $101 in fiscal 2021, 2020 and 2019, respectively.

Revenue from Contracts with Customers (Details) - USD ($) $ in Thousands	12 Months Ended
	Apr. 03, 2021	Mar. 28, 2020
Revenue from Contract with Customer [Abstract]
Aggregate amount of the transaction price allocated to remaining performance obligations	$ 265,021
Performance obligations expected to be satisfied in the future	The Company expects to recognize revenue on approximately 60% and 83% of the remaining performance obligations over the next 12 and 24 months, respectively, with the remainder recognized thereafter.
Current contract assets	$ 5,584	$ 2,604
Current contract liabilities	16,998	11,116
Revenue recognized included in the contract liability	10,355	7,849
Noncurrent contract liabilities	3,754	2,427
Accounts receivable with customers, net	$ 110,472	$ 128,995

Revenue from Contracts with Customers (Details) - Schedule of revenue from business segments of customers - USD ($) $ in Thousands	12 Months Ended
	Apr. 03, 2021	Mar. 28, 2020	Mar. 30, 2019
Revenue, Major Customer [Line Items]
Revenue from contracts with customers	$ 608,984	$ 727,461	$ 702,516
Plain [Member]
Revenue, Major Customer [Line Items]
Revenue from contracts with customers	293,990	358,291	323,251
Roller [Member]
Revenue, Major Customer [Line Items]
Revenue from contracts with customers	91,657	132,642	143,832
Ball [Member]
Revenue, Major Customer [Line Items]
Revenue from contracts with customers	83,704	74,231	72,307
Engineered Products [Member]
Revenue, Major Customer [Line Items]
Revenue from contracts with customers	139,633	162,297	163,126
Aerospace [Member]
Revenue, Major Customer [Line Items]
Revenue from contracts with customers	353,081	469,246	431,133
Aerospace [Member] \| Plain [Member]
Revenue, Major Customer [Line Items]
Revenue from contracts with customers	210,166	277,601	238,259
Aerospace [Member] \| Roller [Member]
Revenue, Major Customer [Line Items]
Revenue from contracts with customers	43,488	71,386	70,682
Aerospace [Member] \| Ball [Member]
Revenue, Major Customer [Line Items]
Revenue from contracts with customers	28,254	23,453	21,621
Aerospace [Member] \| Engineered Products [Member]
Revenue, Major Customer [Line Items]
Revenue from contracts with customers	71,173	96,806	100,571
Industrial [Member]
Revenue, Major Customer [Line Items]
Revenue from contracts with customers	255,903	258,215	271,383
Industrial [Member] \| Plain [Member]
Revenue, Major Customer [Line Items]
Revenue from contracts with customers	83,824	80,690	84,992
Industrial [Member] \| Roller [Member]
Revenue, Major Customer [Line Items]
Revenue from contracts with customers	48,169	61,256	73,150
Industrial [Member] \| Ball [Member]
Revenue, Major Customer [Line Items]
Revenue from contracts with customers	55,450	50,778	50,686
Industrial [Member] \| Engineered Products [Member]
Revenue, Major Customer [Line Items]
Revenue from contracts with customers	$ 68,460	$ 65,491	$ 62,555

- Definition

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

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 41
-Subparagraph (a)
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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-Paragraph 4
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130543-203045

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
-Publisher FASB
-Name Accounting Standards Codification
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-Section S99
-Paragraph 1
-Subparagraph (SAB Topic 11.L)
-URI http://asc.fasb.org/extlink&oid=6472922&loc=d3e499488-122856

+ Details

Allowance for Doubtful Accounts (Details) - Schedule of allowance for doubtful accounts consists - USD ($)
$ in Thousands

12 Months Ended

Apr. 03, 2021

Mar. 28, 2020

Mar. 30, 2019

Schedule of allowance for doubtful accounts consists [Abstract]

Allowance for doubtful accounts, Balance at Beginning of Year

$ 1,627

$ 1,430

$ 1,326

Allowance for doubtful accounts, Additions

480

263

203

Allowance for doubtful accounts, Other

^[1]

(86)

(85)

Allowance for doubtful accounts, Write-offs

(229)

(79)

(14)

Allowance for doubtful accounts, Balance at End of Year

$ 1,792

$ 1,627

$ 1,430

[1]	Foreign currency, disposition and acquisition transactions.

Inventory (Details) - Schedule of inventory - USD ($) $ in Thousands	Apr. 03, 2021	Mar. 28, 2020
Schedule of inventory [Abstract]
Raw materials	$ 57,764	$ 51,362
Work in process	86,183	97,286
Finished goods	220,200	218,846
Inventory, Net, Total	$ 364,147	$ 367,494

Property, Plant and Equipment (Details) - Schedule of property plant and equipment - USD ($) $ in Thousands	Apr. 03, 2021	Mar. 28, 2020
Schedule of property plant and equipment [Abstract]
Land	$ 17,658	$ 17,621
Buildings and improvements	90,668	90,834
Machinery and equipment	322,949	321,580
Property, plant and equipment, gross	431,275	430,035
Less: accumulated depreciation and amortization	(223,011)	(210,189)
Property, plant and equipment, net	$ 208,264	$ 219,846

Leases (Details) - USD ($) $ in Thousands	12 Months Ended
Leases (Details) - USD ($) $ in Thousands	Apr. 03, 2021	Mar. 28, 2020	Mar. 30, 2019
Disclosure Text Block [Abstract]
Cash paid included in measurement of lease liabilities	$ 6,869	$ 5,771
Lease assets obtained in exchange for new operating lease liabilities	1,637	5,586
Lease modifications which resulted in newly obtained lease assets in exchange for new operating lease liabilities	11,110
Operating lease expense	$ 7,647	$ 7,079	$ 7,172
Weighted-average remaining lease term	11 years 4 months 24 days
Weighted average discount rate for operating leases	4.00%

Leases (Details) - Schedule of operating leases - USD ($) $ in Thousands	Apr. 03, 2021	Mar. 28, 2020
Lease assets:
Operating lease assets, net	$ 35,664	$ 28,953
Lease liabilities:
Current operating lease liabilities	5,726	5,708
Long-term operating lease liabilities	29,982	23,396
Total operating lease liabilities	$ 35,708	$ 29,104

Leases (Details) - Schedule of future undiscounted lease payments - USD ($) $ in Thousands	Apr. 03, 2021	Mar. 28, 2020
Schedule of future undiscounted lease payments [Abstract]
Within one year	$ 5,841
One to two years	5,267
Two to three years	3,921
Three to four years	3,724
Four to five years	3,360
Thereafter	21,286
Total future undiscounted lease payments	43,399
Less: imputed interest	(7,691)
Total operating lease liabilities	$ 35,708	$ 29,104

Acquisition (Details) - Aug. 15, 2019 SFr in Thousands, $ in Thousands	USD ($)	CHF (SFr)
Acquisition [Abstract]
Purchase price	$ 33,597	SFr 32,768

Restructuring and Consolidation (Details) $ in Thousands	12 Months Ended
Restructuring and Consolidation (Details) $ in Thousands	Apr. 03, 2021 USD ($)
Restructuring and Consolidation (Details) [Line Items]
Total restructuring charges	$ 7,247
Inventory Costs [Member]
Restructuring and Consolidation (Details) [Line Items]
Total restructuring charges	3,071
Fixed Asset Disposals [Member]
Restructuring and Consolidation (Details) [Line Items]
Total restructuring charges	1,314
Lease Impairment Charge [Member]
Restructuring and Consolidation (Details) [Line Items]
Total restructuring charges	138
Personnel-Related Costs [Member]
Restructuring and Consolidation (Details) [Line Items]
Total restructuring charges	681
Other Restructuring [Member]
Restructuring and Consolidation (Details) [Line Items]
Total restructuring charges	2,043
Right of use assets obtained in exchange for operating lease liabilities	7,662
Minimum [Member]
Restructuring and Consolidation (Details) [Line Items]
Additional costs	250
Maximum [Member]
Restructuring and Consolidation (Details) [Line Items]
Additional costs	500
Cost of Sales [Member] \| Roller Segment [Member]
Restructuring and Consolidation (Details) [Line Items]
Total restructuring charges	1,994
Cost of Sales [Member] \| Plain Segment [Member]
Restructuring and Consolidation (Details) [Line Items]
Total restructuring charges	1,077
Other Operating Costs [Member]
Restructuring and Consolidation (Details) [Line Items]
Total restructuring charges	4,176
Other Operating Costs [Member] \| Roller Segment [Member]
Restructuring and Consolidation (Details) [Line Items]
Total restructuring charges	823
Other Operating Costs [Member] \| Plain Segment [Member]
Restructuring and Consolidation (Details) [Line Items]
Total restructuring charges	1,595
Other Operating Costs [Member] \| Ball Segment [Member]
Restructuring and Consolidation (Details) [Line Items]
Total restructuring charges	21
Other Operating Costs [Member] \| Engineered Product Segment [Member]
Restructuring and Consolidation (Details) [Line Items]
Total restructuring charges	1,120
Other Operating Costs [Member] \| Corporate Segment [Member]
Restructuring and Consolidation (Details) [Line Items]
Total restructuring charges	$ 617

Goodwill and Intangible Assets (Details) - USD ($) $ in Thousands	12 Months Ended
	Apr. 03, 2021	Mar. 28, 2020	Mar. 30, 2019
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization expense	$ 10,217	$ 9,612	$ 9,666

Goodwill and Intangible Assets (Details) - Schedule of goodwill
$ in Thousands

12 Months Ended

Apr. 03, 2021

USD ($)

Goodwill [Line Items]

Balance at beginning

$ 277,776

Acquisition

(383)

^[1]

Translation adjustments

143

Balance at ending

277,536

Roller [Member]

Goodwill [Line Items]

Balance at beginning

16,007

Acquisition

^[1]

Translation adjustments

Balance at ending

16,007

Plain [Member]

Goodwill [Line Items]

Balance at beginning

79,597

Acquisition

^[1]

Translation adjustments

Balance at ending

79,597

Ball [Member]

Goodwill [Line Items]

Balance at beginning

5,623

Acquisition

^[1]

Translation adjustments

Balance at ending

5,623

Engineered Products [Member]

Goodwill [Line Items]

Balance at beginning

176,549

Acquisition

(383)

^[1]

Translation adjustments

143

Balance at ending

$ 176,309

[1]	Includes a reduction of goodwill recognized due to opening balance sheet adjustments made during the measurement period of the Company’s acquisition of Vianel Holding AG (“Swiss Tool”) on August 15, 2019.

Goodwill and Intangible Assets (Details) - Schedule of intangible assets - USD ($) $ in Thousands	12 Months Ended
	Apr. 03, 2021	Mar. 28, 2020
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 193,489	$ 194,198
Accumulated Amortization	$ 63,371	55,732
Non-amortizable repair station certifications, Weighted Average Useful Lives	n/a
Non-amortizable repair station certifications, Gross Carrying Amount	$ 24,281	24,281
Non-amortizable repair station certifications, Accumulated Amortization
Total, Weighted Average Useful Lives	21 years
Total, Gross Carrying Amount	$ 217,770	218,479
Total, Accumulated Amortization	$ 63,371	55,732
Product approvals [Member]
Finite-Lived Intangible Assets [Line Items]
Weighted Average Useful Lives	24 years
Gross Carrying Amount	$ 50,878	50,878
Accumulated Amortization	$ 14,691	12,597
Customer relationships and lists [Member]
Finite-Lived Intangible Assets [Line Items]
Weighted Average Useful Lives	23 years
Gross Carrying Amount	$ 109,762	109,645
Accumulated Amortization	$ 28,253	23,557
Trade names [Member]
Finite-Lived Intangible Assets [Line Items]
Weighted Average Useful Lives	10 years
Gross Carrying Amount	$ 16,333	16,330
Accumulated Amortization	$ 10,392	8,906
Distributor agreements [Member]
Finite-Lived Intangible Assets [Line Items]
Weighted Average Useful Lives	5 years
Gross Carrying Amount	$ 722	722
Accumulated Amortization	$ 722	722
Patents and trademarks [Member]
Finite-Lived Intangible Assets [Line Items]
Weighted Average Useful Lives	16 years
Gross Carrying Amount	$ 11,612	11,553
Accumulated Amortization	$ 6,211	6,045
Domain names [Member]
Finite-Lived Intangible Assets [Line Items]
Weighted Average Useful Lives	10 years
Gross Carrying Amount	$ 437	437
Accumulated Amortization	$ 437	437
Other [Member]
Finite-Lived Intangible Assets [Line Items]
Weighted Average Useful Lives	3 years
Gross Carrying Amount	$ 3,745	4,633
Accumulated Amortization	$ 2,665	$ 3,468

Goodwill and Intangible Assets (Details) - Schedule of estimated amortization expense for the five succeeding fiscal years $ in Thousands	Apr. 03, 2021 USD ($)
Schedule of estimated amortization expense for the five succeeding fiscal years [Abstract]
2022	$ 9,658
2023	9,462
2024	9,332
2025	9,245
2026	7,112
2027 and thereafter	$ 85,309

Accrued Expenses and Other Current Liabilities (Details) - Schedule of accrued expenses and other current liabilities - USD ($) $ in Thousands	Apr. 03, 2021	Mar. 28, 2020
Schedule of accrued expenses and other current liabilities [Abstract]
Employee compensation and related benefits	$ 11,846	$ 16,275
Taxes	2,896	2,751
Contract Liabilities	16,998	11,116
Workers compensation and insurance	2,915	3,500
Legal	380	250
Other	8,529	6,688
Accrued expenses and other current liabilities	$ 43,564	$ 40,580

Debt (Details) SFr in Thousands, $ in Thousands			12 Months Ended
Debt (Details) SFr in Thousands, $ in Thousands	Aug. 15, 2019 USD ($)	Aug. 15, 2019 CHF (SFr)	Apr. 03, 2021 USD ($)	Mar. 28, 2020 USD ($)	Mar. 30, 2019 USD ($)	Aug. 15, 2019 CHF (SFr)
Debt Instrument [Line Items]
Debt issuance costs			$ 472	$ 506	$ 921
Future annual principal payments in Fiscal 2022			493
Future annual principal payments in Fiscal 2023			493
Future annual principal payments in Fiscal 2024			493
Future annual principal payments in Fiscal 2025			493
Future annual principal payments in Fiscal 2026			493
Future annual principal payments in Fiscal thereafter			3,201
Revolver [Member]
Debt Instrument [Line Items]
Line of credit			$ 3,550
Debt instrument, description of variable rate basis			Amounts outstanding under the Revolver generally bear interest at (a) a base rate determined by reference to the higher of (1) Wells Fargo’s prime lending rate, (2) the federal funds effective rate plus 1/2 of 1% and (3) the one-month LIBOR rate plus 1%, or (b) LIBOR plus a specified margin, depending on the type of borrowing being made. The applicable margin is based on the Company’s consolidated ratio of total net debt to consolidated EBITDA at each measurement date. Currently, the Company’s margin is 0.00% for base rate loans and 0.75% for LIBOR loans.
Line of credit facility, remaining borrowing capacity			$ 246,450
Domestic Credit Facility [Member]
Debt Instrument [Line Items]
Unamortized debt issuance costs			$ 1,121
Debt instrument, description of variable rate basis			The Credit Agreement requires the Company to comply with various covenants including, among other things, a financial covenant to maintain a ratio of consolidated net debt to adjusted EBITDA not greater than 3.50 to 1.
Foreign Term Loan [Member]
Debt Instrument [Line Items]
Unamortized debt issuance costs			$ 95
Foreign Revolver [Member]
Debt Instrument [Line Items]
Line of credit facility, remaining borrowing capacity			15,896
Amended Credit Agreement [Member] \| Revolver [Member]
Debt Instrument [Line Items]
Line of credit			$ 250,000
Debt instrument expiry date			Jan. 31, 2024
Unamortized debt issuance costs			$ 852
Schaublin [Member]
Debt Instrument [Line Items]
Debt issuance costs	$ 277	SFr 270
Future annual principal payments in Fiscal 2022			2,119
Future annual principal payments in Fiscal 2023			3,179
Future annual principal payments in Fiscal 2024			3,179
Future annual principal payments in Fiscal 2025			3,180
Cash paid for purchase price			5,053
Balance on mortgage loan			5,666
Schaublin [Member] \| Foreign Term Loan [Member]
Debt Instrument [Line Items]
Debt instrument face amount	15,383					SFr 15,000
Credit facility outstanding amount			$ 11,657
Schaublin [Member] \| Foreign Revolver [Member]
Debt Instrument [Line Items]
Debt instrument face amount	$ 15,383					SFr 15,000
Schaublin [Member] \| Foreign Credit Agreement [Member]
Debt Instrument [Line Items]
Line of credit covenant terms			The Foreign Credit Agreements require Schaublin to comply with various covenants, which are tested annually on March 31. These covenants include, among other things, a financial covenant to maintain a ratio of consolidated net debt to adjusted EBITDA not greater than 2.50 to 1 as of March 31, 2021 and thereafter. Schaublin is also required to maintain an economic equity of CHF 20,000 at all times.
Schaublin [Member] \| Land and Building [Member]
Debt Instrument [Line Items]
Land and building leased			$ 14,910
Period for fixed rate on mortgage loan			Schaublin obtained a 20-year fixed-rate mortgage of approximately $9,857 at an interest rate of 2.9%.
Mortgage loan fixed rate			$ 9,857
Mortgage loan interest rate			2.90%
Schaublin [Member] \| Base Rate [Member]
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate			1.00%

Debt (Details) - Schedule of debt - USD ($) $ in Thousands	Apr. 03, 2021	Mar. 28, 2020
Schedule of debt [Abstract]
Revolver and term loan facilities	$ 11,657	$ 18,593
Debt issuance cost	(1,216)	(1,687)
Other	5,666	6,106
Total debt	16,107	23,012
Less: current portion	2,612	6,429
Long-term debt	$ 13,495	$ 16,583

Other Non-Current Liabilities (Details) - Schedule of other non-current liabilities - USD ($) $ in Thousands	Apr. 03, 2021	Mar. 28, 2020
Schedule of other non-current liabilities [Abstract]
Other postretirement benefits	$ 7,807	$ 2,485
Noncurrent income tax liability	18,658	19,936
Deferred compensation	25,189	18,275
Contract liabilities	3,754	2,427
Other	8	496
Other non-current liabilities	$ 55,416	$ 43,619

Employee Benefit Plans (Details) - USD ($) $ in Thousands	12 Months Ended
Employee Benefit Plans (Details) - USD ($) $ in Thousands	Apr. 03, 2021	Mar. 28, 2020	Mar. 30, 2019
Employee Benefit Plans (Details) [Line Items]
Plan assets	$ 27,238	$ 26,381
Accumulated benefit obligation	$ 25,380	$ 25,260
Discount rates	2.70%	2.80%
Defined benefit pension plan and amount recognized in balance sheet	$ 1,858	$ 1,121
Net periodic benefit cost	$ 529	$ 276	$ 506
Net periodic benefit discount rate	2.80%	3.50%	3.70%
Employer contributions	$ 2,162	$ 2,212	$ 1,889
Schaublin Plan [Member]
Employee Benefit Plans (Details) [Line Items]
Number of employees	136
Unfunded liabilities	$ 5,250
Swiss Tool, Sponsor Pension Plan [Member]
Employee Benefit Plans (Details) [Line Items]
Number of employees	32
Schaublin and Swiss Tool, sponsor pension plans [Member]
Employee Benefit Plans (Details) [Line Items]
Net periodic benefit cost	$ 1,123	1,101	$ 887
Supplemental Executive Retirement Plan [Member][
Employee Benefit Plans (Details) [Line Items]
Compensation description	the SERP was initially adopted in 1996, it allowed eligible employees to elect to defer, until termination of their employment, the receipt of up to 25% of their salary. In August 2008, the plan was modified to allow eligible employees to elect to defer up to 75% of their current salary and up to 100% of bonus compensation. As of April 3, 2021 and March 28, 2020, the SERP assets were $27,856 and $18,944, respectively, and are included within other assets on the consolidated balance sheets. As of April 3, 2021 and March 28, 2020, the SERP liabilities were $24,178 and $16,141, respectively, and are included within accrued expenses and other current liabilities and other noncurrent liabilities on the balance sheets.
Post Retirement Medical And Life Insurance Benefits [Member]
Employee Benefit Plans (Details) [Line Items]
Unfunded liabilities	$ 2,646	2,661
Accrued expenses and other current liabilities	$ 174	$ 176
Minimum [Member]
Employee Benefit Plans (Details) [Line Items]
Employer contribution percentage	10.00%
Maximum [Member]
Employee Benefit Plans (Details) [Line Items]
Employer contribution percentage	100.00%

Income Taxes (Details) - USD ($) $ in Thousands	12 Months Ended
Income Taxes (Details) - USD ($) $ in Thousands	Apr. 03, 2021	Mar. 28, 2020	Mar. 30, 2019
Income Taxes (Details) [Line Items]
State net operating losses, percentage	50.00%
Valuation allowance increased	$ 2,042	$ 607
Net operating losses	$ 7,332
Expiration date	2036
U.S.federal and state credits description	the Company had U.S. federal and state credits in different jurisdictions at varying amounts up to $7,364 which will expire at various dates through 2036. At April 3, 2021, the Company had foreign credits in different jurisdictions at varying amounts up to $936 which will expire at various dates through 2037.
Undistributed foreign earnings	$ 27,349
Recognized expenses on interest and penalties	86	213	$ 45
Unrecognized Tax Benefits, Income Tax Penalties and Interest Accrued	1,492	$ 1,406
Decrease in federal and state credits and state tax	1,513
Foreign Tax Authority [Member]
Income Taxes (Details) [Line Items]
Net operating losses	1,377
State and Local Jurisdiction [Member]
Income Taxes (Details) [Line Items]
Net operating losses	$ 7,364
Expiration date	2036

Income Taxes (Details) - Schedule of income before income taxes for the Company’s domestic and foreign operations - USD ($) $ in Thousands	12 Months Ended
	Apr. 03, 2021	Mar. 28, 2020	Mar. 30, 2019
Income Taxes (Details) - Schedule of income before income taxes for the Company’s domestic and foreign operations [Line Items]
Total income before income taxes	$ 110,059	$ 154,139	$ 126,090
Domestic [Member]
Income Taxes (Details) - Schedule of income before income taxes for the Company’s domestic and foreign operations [Line Items]
Total income before income taxes	105,434	148,154	115,747
Foreign [member]
Income Taxes (Details) - Schedule of income before income taxes for the Company’s domestic and foreign operations [Line Items]
Total income before income taxes	$ 4,625	$ 5,985	$ 10,343

Income Taxes (Details) - Schedule of provision for income taxes - USD ($) $ in Thousands	12 Months Ended
	Apr. 03, 2021	Mar. 28, 2020	Mar. 30, 2019
Current tax expense:
Federal	$ 15,171	$ 16,370	$ 18,200
State	1,100	2,578	2,908
Foreign	2,646	2,653	4,693
Total	18,917	21,601	25,801
Deferred tax expense:
Federal	336	6,210	(4,111)
State	1,210	1,076	(756)
Foreign	(37)	(784)	(37)
Total	1,509	6,502	(4,904)
Total income taxes	$ 20,426	$ 28,103	$ 20,897

Income Taxes (Details) - Schedule of provision for income taxes and amount computed by applying the U.S. statutory income tax rate to pre-tax income - USD ($) $ in Thousands	12 Months Ended
	Apr. 03, 2021	Mar. 28, 2020	Mar. 30, 2019
Schedule of provision for income taxes and amount computed by applying the U.S. statutory income tax rate to pre-tax income [Abstract]
Income taxes using U.S. federal statutory rate	$ 23,113	$ 32,369	$ 26,479
State income taxes, net of federal benefit	2,083	2,851	1,714
Revaluation of deferred tax liabilities due to federal rate change			282
Stock-based compensation	(2,056)	(3,834)	(5,155)
Foreign rate differential	1,638	613	2,484
Transition tax		135	(161)
Research and development credits	(1,258)	(1,737)	(1,765)
Company-owned life insurance	(1,173)	334	(13)
Foreign derived intangible income (FDII)	(1,088)	(1,569)	(1,772)
U.S. unrecognized tax positions	4	(146)	(951)
Other - net	(837)	(913)	(245)
Income Tax Expense (Benefit)	$ 20,426	$ 28,103	$ 20,897

Income Taxes (Details) - Schedule of net deferred tax assets (liabilities) - USD ($) $ in Thousands	Apr. 03, 2021	Mar. 28, 2020
Deferred tax assets:
Pension and postretirement benefits	$ 1,021	$ 591
Employee compensation accruals	7,080	4,886
Inventory	9,269	9,479
Operating lease liabilities	8,527	7,252
Stock compensation	6,132	5,289
Tax loss and credit carryforwards	10,942	9,726
State tax	1,441	1,460
Total gross deferred tax assets	44,412	38,683
Valuation allowance	(6,292)	(4,250)
Total deferred tax assets	38,120	34,433
Deferred tax liabilities:
Property, plant and equipment	(20,744)	(21,029)
Pension		(262)
Operating lease assets	(8,492)	(7,218)
Other	(505)	(603)
Intangible assets	(25,557)	(21,881)
Total deferred tax liabilities	(55,298)	(50,993)
Total net deferred liabilities	$ (17,178)	$ (16,560)

Income Taxes (Details) - schedule of unrecognized tax benefits - USD ($) $ in Thousands	12 Months Ended
	Apr. 03, 2021	Mar. 28, 2020	Mar. 30, 2019
schedule of unrecognized tax benefits [Abstract]
Balance, beginning of year	$ 14,212	$ 13,479	$ 11,935
Gross increases (decreases) – tax positions taken during a prior period	(166)	123	624
Gross increases – tax positions taken during the current period	2,016	1,702	2,697
Reductions due to lapse of the applicable statute of limitations	(1,445)	(1,092)	(1,777)
Balance, end of year	$ 14,617	$ 14,212	$ 13,479

Stockholders' Equity (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Apr. 03, 2021	Mar. 28, 2020	Mar. 30, 2019
Stockholders' Equity (Details) [Line Items]
Maximum option to purchase common stock, percentage	10.00%
Maximum fair market value limit to approve an award of incentive options	$ 100
Percentage of minimum fair value value of shares of common stock	100.00%
Stock constituting voting interest, minimum	10.00%
Exercise price minimum percent of fair market value of common stock share	110.00%
Options must be exercised within date of grant	5 years
2013 Long-Term Incentive Plan [Member]
Stockholders' Equity (Details) [Line Items]
Shares of common stock were authorized for issuance (in Shares)	1,500,000
Option to be exercised within period, maximum, in years	7 years
Outstanding options to purchase shares of common stock granted (in Shares)	237,228
Number of common stock options exercisable (in Shares)	113,734
Restricted stock outstanding (in Shares)	63,459
2017 Long-Term Incentive Plan [Member]
Stockholders' Equity (Details) [Line Items]
Shares of common stock were authorized for issuance (in Shares)	1,500,000
Option to be exercised within period, maximum, in years	7 years
Outstanding options to purchase shares of common stock granted (in Shares)	458,174
Number of common stock options exercisable (in Shares)	89,575
Percentage of total authorized number of shares	50.00%
Restricted stock outstanding (in Shares)	183,391
Employee Stock Option [Member]
Stockholders' Equity (Details) [Line Items]
Weighted average fair value per share of options granted (in Dollars per share)	$ 52.78	$ 39.34	$ 37.02
Option Awards [Member]
Stockholders' Equity (Details) [Line Items]
Recorded compensation related to option awards	$ 4,494
Net of taxes	1,351
Unrecognized compensation costs related to options	$ 15,079
Weighted average period	3 years 3 months 18 days
Total intrinsic value of options exercised	$ 12,726	$ 15,273	$ 26,060
Total awards outstanding either fully vested or expected to vest (in Shares)	687,092
Total awards outstanding, vested or expected to vest, weighted average exercise price (in Dollars per share)	$ 124.06
Total awards outstanding, vested or expected to vest, intrinsic value	$ 50,897
Total awards outstanding, vested or expected to vest, weighted average contractual term in years	4 years 4 months 24 days
Restricted Stock [Member]
Stockholders' Equity (Details) [Line Items]
Weighted average fair value per share of options granted (in Dollars per share)	$ 153.70	$ 145.72	$ 133.05
Restricted Stock Awards [Member]
Stockholders' Equity (Details) [Line Items]
Recorded compensation related to option awards	$ 11,881
Net of taxes	3,573
Unrecognized compensation costs related to options	$ 24,848
Weighted average period	2 years 8 months 12 days
Total fair value of restricted stock vested	$ 19,470	$ 19,916	$ 15,819

Stockholders' Equity (Details) - Schedule of stock options outstanding $ / shares in Units, $ in Thousands	12 Months Ended
	Apr. 03, 2021 USD ($) $ / shares shares
Number Of Common Stock Options
Stockholders' Equity (Details) - Schedule of stock options outstanding [Line Items]
Outstanding, March 28, 2020 \| shares	713,911
Awarded \| shares	137,210
Exercised \| shares	(141,767)
Forfeitures \| shares	(13,952)
Outstanding, March 28, 2020 \| shares	695,402
Exercisable, April 3, 2021 \| shares	203,309
Weighted Average Exercise Price
Stockholders' Equity (Details) - Schedule of stock options outstanding [Line Items]
Outstanding, March 28, 2020 \| $ / shares	$ 111.41
Awarded \| $ / shares	145.59
Exercised \| $ / shares	80.24
Forfeitures \| $ / shares	124.90
Outstanding, April 3, 2021 \| $ / shares	124.24
Exercisable, April 3, 2021 \| $ / shares	$ 110.77
Weighted Average Contractual Life (Years)
Stockholders' Equity (Details) - Schedule of stock options outstanding [Line Items]
Outstanding, March 28, 2020	4 years 6 months
Outstanding, April 3, 2021	4 years 4 months 24 days
Exercisable, April 3, 2021	3 years 7 months 6 days
Intrinsic Value
Stockholders' Equity (Details) - Schedule of stock options outstanding [Line Items]
Outstanding, March 28, 2020 \| $	$ 9,270
Outstanding, April 3, 2021 \| $	51,391
Exercisable, April 3, 2021 \| $	$ 17,763

Stockholders' Equity (Details) - Schedule of options was estimated at the date of grant using the Black-Scholes	12 Months Ended
	Apr. 03, 2021	Mar. 28, 2020	Mar. 30, 2019
Schedule of options was estimated at the date of grant using the Black-Scholes [Abstract]
Dividend yield	0.00%	0.00%	0.00%
Expected weighted-average life (yrs.)	5 years	5 years	5 years
Risk-free interest rate	0.35%	1.82%	2.77%
Expected volatility	41.35%	26.93%	25.16%

Stockholders' Equity (Details) - Schedule of restricted stock outstanding	12 Months Ended
	Apr. 03, 2021 $ / shares shares
Number Of Restricted Stock Shares
Stockholders' Equity (Details) - Schedule of restricted stock outstanding [Line Items]
Non-vested, March 28, 2020 \| shares	288,710
Granted \| shares	94,205
Vested \| shares	(128,998)
Forfeitures \| shares	(7,067)
Non-vested, April 3, 2021 \| shares	246,850
Weighted- Average Grant Date Fair Value
Stockholders' Equity (Details) - Schedule of restricted stock outstanding [Line Items]
Non-vested, March 28, 2020 \| $ / shares	$ 125.54
Granted \| $ / shares	153.70
Vested \| $ / shares	117.34
Forfeitures \| $ / shares	131.72
Non-vested, April 3, 2021 \| $ / shares	$ 140.39

Commitments and Contingencies (Details)	12 Months Ended
Commitments and Contingencies (Details)	Apr. 03, 2021
Commitments and Contingencies Disclosure [Abstract]
Employees represented by labor unions percentage	8.20%

Other, Net (Details) - Schedule of other, net - USD ($) $ in Thousands	12 Months Ended
	Apr. 03, 2021	Mar. 28, 2020	Mar. 30, 2019
Schedule of other, net [Abstract]
Plant consolidation and restructuring costs	$ 2,862	$ 1,087	$ 16,906
Acquisition costs		901
Provision for doubtful accounts	480	263	203
Amortization of intangibles	10,217	9,612	9,666
Loss (gain) on disposal of assets	1,314	(1,227)	853
Other expense (income)	1,775	(883)	(514)
Other, net	$ 16,648	$ 9,753	$ 27,114

Reportable Segments (Details) $ in Thousands	12 Months Ended
Reportable Segments (Details) $ in Thousands	Apr. 03, 2021 USD ($)
Segment Reporting [Abstract]
Number of reportable business segments	4
Net loss on sale	$ 16,544

Reportable Segments (Details) - Schedule of segment information - USD ($) $ in Thousands	12 Months Ended
	Apr. 03, 2021	Mar. 28, 2020	Mar. 30, 2019
Net External Sales
Net External Sales	$ 608,984	$ 727,461	$ 702,516
Gross Margin
Gross Margin	234,106	289,103	276,653
Selling, General and Administrative Expenses
Selling, General and Administrative Expenses	106,000	122,565	117,504
Operating Income
Operating Income	111,458	156,785	132,035
Total Assets
Total Assets	1,434,260	1,321,912	1,147,367
Capital Expenditures
Capital Expenditures	11,772	37,297	41,346
Depreciation & Amortization
Depreciation & Amortization	32,744	31,420	29,658
Geographic External Sales
Geographic External Sales	608,984	727,461	702,516
Geographic Long-Lived Assets
Geographic Long-Lived Assets	243,928	248,799	207,895
Intersegment Sales
Intersegment Sales	49,600	70,177	63,253
Plain [Member]
Net External Sales
Net External Sales	293,990	358,291	323,251
Gross Margin
Gross Margin	118,535	144,958	129,297
Selling, General and Administrative Expenses
Selling, General and Administrative Expenses	21,630	26,256	25,617
Operating Income
Operating Income	92,080	115,028	100,048
Total Assets
Total Assets	415,222	423,925	393,014
Capital Expenditures
Capital Expenditures	4,530	13,695	13,185
Depreciation & Amortization
Depreciation & Amortization	10,518	10,230	9,849
Intersegment Sales
Intersegment Sales	5,547	6,687	6,292
Roller [Member]
Net External Sales
Net External Sales	91,657	132,642	143,832
Gross Margin
Gross Margin	31,616	55,519	61,559
Selling, General and Administrative Expenses
Selling, General and Administrative Expenses	4,744	6,359	6,266
Operating Income
Operating Income	26,048	48,615	55,148
Total Assets
Total Assets	152,323	179,711	166,733
Capital Expenditures
Capital Expenditures	2,099	6,362	5,328
Depreciation & Amortization
Depreciation & Amortization	4,161	4,339	4,029
Intersegment Sales
Intersegment Sales	8,812	15,579	14,650
Ball [Member]
Net External Sales
Net External Sales	83,704	74,231	72,307
Gross Margin
Gross Margin	37,058	33,041	29,846
Selling, General and Administrative Expenses
Selling, General and Administrative Expenses	5,354	6,481	6,428
Operating Income
Operating Income	31,592	26,454	23,222
Total Assets
Total Assets	68,126	70,138	66,443
Capital Expenditures
Capital Expenditures	1,375	2,420	3,276
Depreciation & Amortization
Depreciation & Amortization	2,351	2,199	1,971
Intersegment Sales
Intersegment Sales	2,554	2,947	3,363
Engineered Products [Member]
Net External Sales
Net External Sales	139,633	162,297	163,126
Gross Margin
Gross Margin	46,897	55,585	55,951
Selling, General and Administrative Expenses
Selling, General and Administrative Expenses	15,388	17,739	19,664
Operating Income
Operating Income	25,593	32,266	16,183
Total Assets
Total Assets	513,962	504,649	458,058
Capital Expenditures
Capital Expenditures	3,619	14,645	18,715
Depreciation & Amortization
Depreciation & Amortization	12,484	11,442	10,412
Intersegment Sales
Intersegment Sales	32,687	44,964	38,948
Corporate [Member]
Selling, General and Administrative Expenses
Selling, General and Administrative Expenses	58,884	65,730	59,529
Operating Income
Operating Income	(63,855)	(65,578)	(62,566)
Total Assets
Total Assets	284,627	143,489	63,119
Capital Expenditures
Capital Expenditures	149	175	842
Depreciation & Amortization
Depreciation & Amortization	3,230	3,210	3,397
Domestic [Member]
Geographic External Sales
Geographic External Sales	546,018	651,381	633,381
Geographic Long-Lived Assets
Geographic Long-Lived Assets	188,366	190,215	165,533
Foreign [Member]
Geographic External Sales
Geographic External Sales	62,966	76,080	69,135
Geographic Long-Lived Assets
Geographic Long-Lived Assets	$ 55,562	$ 58,584	$ 42,362