0001604778-24-000063 | 10-Q | XBRL Viewer

Recent Accounting Pronouncements	3 Months Ended
Recent Accounting Pronouncements	Jun. 29, 2024
Accounting Standards Update and Change in Accounting Principle [Abstract]
Accounting Standards Update and Change in Accounting Principle [Text Block]	RECENT ACCOUNTING PRONOUNCEMENTS In November 2023, the Financial Accounting Standards Board issued Accounting Standards Update 2023-07, "Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures" ("ASU 2023-07"), which requires enhanced disclosures related to significant segment expenses. The Company will adopt ASU 2023-07 for its fiscal 2025 annual report and for interim periods beginning in fiscal 2026 on a retrospective basis. The Company is currently evaluating the effect this new standard will have on its disclosures.

- Definition

The entire disclosure for change in accounting principle. Includes, but is not limited to, nature, reason, and method of adopting amendment to accounting standards or other change in accounting principle.

+ References

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

Restructuring and Related Activities

3 Months Ended

Jun. 29, 2024

Restructuring and Related Activities [Abstract]

RESTRUCTURING

In the third quarter of fiscal 2024 the Company entered into a definitive agreement with Luxshare to divest its assembly and test operations in Beijing and Dezhou, China. The sale of these operations (the "2024 Restructuring Initiative") was completed in the first quarter of fiscal 2025 (refer to Note 4 for additional information).

The following table summarizes charges resulting from the 2024 Restructuring Initiative (in thousands) during the three months ended June 29, 2024:


	Other Operating Expense
Contract termination and other costs	$	3,352
Asset impairment costs	8,076
One-time employee termination benefits	5,326
Total	$	16,754

As of June 29, 2024, the Company has recorded cumulative expenses of approximately $10.6 million, $45.0 million and $14.2 million for contract termination and other costs, asset impairment costs, and one-time employee termination benefits,

respectively, as a result of the 2024 Restructuring Initiative. The Company does not expect to incur material additional charges related to the 2024 Restructuring Initiative.

The following table summarizes the liability activity related to the 2024 Restructuring Initiative for the three months ended June 29, 2024 (in thousands):


	One-Time Employee Termination Benefits		Contract Termination and Other Costs		Total
Accrued restructuring balance as of March 30, 2024	$	7,432	$	4,080	$	11,512
Costs incurred and charged to expense	5,326		3,352		8,678
Cash payments	(12,512)		(4,888)		(17,400)
Accrued restructuring balance as of June 29, 2024	$	246	$	2,544	$	2,790

During fiscal 2023, the Company initiated actions to improve efficiencies in its operations and further align the organization with its strategic objectives, which primarily included seeking strategic alternatives related to its biotechnology business (the "2023 Restructuring Initiatives"). The Company completed the sale of its biotechnology business in the third quarter of fiscal 2024.

The following table summarizes the charges resulting from the 2023 Restructuring Initiatives (in thousands):


	Three Months Ended June 29, 2024		Three Months Ended July 1, 2023
	Other Operating Expense		Cost of Goods Sold		Other Operating Expense		Total
Contract termination and other costs	$	94	$	16,796	$	1,429	$	18,225
Asset impairment costs	—		2,159		640		2,799
One-time employee termination benefits	321		—		1,712		1,712
Total	$	415	$	18,955	$	3,781	$	22,736

As of June 29, 2024, the Company has recorded cumulative expenses of approximately $46.1 million, $99.9 million, $12.4 million and $5.9 million for contract termination and other costs, asset impairment costs, goodwill impairment charges, and one-time employee termination benefits, respectively, as a result of the 2023 Restructuring Initiatives. The Company does not expect to incur material additional charges related to the 2023 Restructuring Initiatives.

The following table summarizes the liability activity related to the 2023 Restructuring Initiatives for the three months ended June 29, 2024 (in thousands):


	One-Time Employee Termination Benefits		Contract Termination and Other Costs		Total
Accrued restructuring balance as of March 30, 2024	$	347	$	9,308	$	9,655
Costs incurred and charged to expense	321		94		415
Cash payments	(575)		(9,308)		(9,883)
Accrued restructuring balance as of June 29, 2024	$	93	$	94	$	187

The accrued restructuring balances as of June 29, 2024 represent estimated future cash payments required to satisfy the Company's remaining obligations, the majority of which are expected to be paid in the next twelve months.

In fiscal 2025, in connection with a prior restructuring initiative, the Company incurred immaterial legal fees, recorded to "Other operating expense."

Restructuring and Related Activities (Details) - USD ($)
$ in Thousands

3 Months Ended

9 Months Ended

21 Months Ended

Jun. 29, 2024

Jul. 01, 2023

Jun. 29, 2024

Mar. 30, 2024

Restructuring

Schedule of restructuring activity

The following table summarizes charges resulting from the 2024 Restructuring Initiative (in thousands) during the three months ended June 29, 2024:


	Other Operating Expense
Contract termination and other costs	$	3,352
Asset impairment costs	8,076
One-time employee termination benefits	5,326
Total	$	16,754

The following table summarizes the charges resulting from the 2023 Restructuring Initiatives (in thousands):


	Three Months Ended June 29, 2024		Three Months Ended July 1, 2023
	Other Operating Expense		Cost of Goods Sold		Other Operating Expense		Total
Contract termination and other costs	$	94	$	16,796	$	1,429	$	18,225
Asset impairment costs	—		2,159		640		2,799
One-time employee termination benefits	321		—		1,712		1,712
Total	$	415	$	18,955	$	3,781	$	22,736

Restructuring Liabilities Rollforward

The following table summarizes the liability activity related to the 2024 Restructuring Initiative for the three months ended June 29, 2024 (in thousands):


	One-Time Employee Termination Benefits		Contract Termination and Other Costs		Total
Accrued restructuring balance as of March 30, 2024	$	7,432	$	4,080	$	11,512
Costs incurred and charged to expense	5,326		3,352		8,678
Cash payments	(12,512)		(4,888)		(17,400)
Accrued restructuring balance as of June 29, 2024	$	246	$	2,544	$	2,790

The following table summarizes the liability activity related to the 2023 Restructuring Initiatives for the three months ended June 29, 2024 (in thousands):


	One-Time Employee Termination Benefits		Contract Termination and Other Costs		Total
Accrued restructuring balance as of March 30, 2024	$	347	$	9,308	$	9,655
Costs incurred and charged to expense	321		94		415
Cash payments	(575)		(9,308)		(9,883)
Accrued restructuring balance as of June 29, 2024	$	93	$	94	$	187

fiscal year 2023 initiative [Member]

Restructuring and Related Activities [Abstract]

Restructuring Charges

$ 415

$ 22,736

Restructuring

Restructuring Charges

415

22,736

Payments for Restructuring

(9,883)

Restructuring Reserve

187

$ 187

$ 9,655

Restructuring and Related Cost, Incurred Cost

415

fiscal year 2023 initiative [Member] | One-time Employee Termination Benefits

Restructuring and Related Activities [Abstract]

Restructuring Charges

321

1,712

5,900

Restructuring

Restructuring Charges

321

1,712

5,900

Payments for Restructuring

(575)

Restructuring Reserve

347

Restructuring and Related Cost, Incurred Cost

321

fiscal year 2023 initiative [Member] | impairment charges

Restructuring and Related Activities [Abstract]

Restructuring Charges

2,799

99,900

Restructuring

Restructuring Charges

2,799

99,900

fiscal year 2023 initiative [Member] | Lease and other contract terminations

Restructuring and Related Activities [Abstract]

Restructuring Charges

18,225

46,100

Restructuring

Restructuring Charges

18,225

46,100

Payments for Restructuring

(9,308)

Restructuring Reserve

9,308

Restructuring and Related Cost, Incurred Cost

fiscal year 2023 initiative [Member] | Impaired goodwill

Restructuring and Related Activities [Abstract]

Restructuring Charges

12,400

Restructuring

Restructuring Charges

12,400

Fiscal year 2024 initiative [Member]

Restructuring and Related Activities [Abstract]

Restructuring Charges

16,754

Restructuring

Restructuring Charges

16,754

Payments for Restructuring

(17,400)

Restructuring Reserve

2,790

11,512

Restructuring and Related Cost, Incurred Cost

8,678

Fiscal year 2024 initiative [Member] | One-time Employee Termination Benefits

Restructuring and Related Activities [Abstract]

Restructuring Charges

5,326

14,200

Restructuring

Restructuring Charges

5,326

14,200

Payments for Restructuring

(12,512)

Restructuring Reserve

246

7,432

Restructuring and Related Cost, Incurred Cost

5,326

Fiscal year 2024 initiative [Member] | impairment charges

Restructuring and Related Activities [Abstract]

Restructuring Charges

8,076

45,000

Restructuring

Restructuring Charges

8,076

45,000

Fiscal year 2024 initiative [Member] | Lease and other contract terminations

Restructuring and Related Activities [Abstract]

Restructuring Charges

3,352

10,600

Restructuring

Restructuring Charges

3,352

10,600

Payments for Restructuring

(4,888)

Restructuring Reserve

2,544

$ 2,544

$ 4,080

Restructuring and Related Cost, Incurred Cost

$ 3,352

Other operating expense | fiscal year 2023 initiative [Member]

Restructuring and Related Activities [Abstract]

Restructuring Charges

$ 3,781

Restructuring Charges, Statement of Income or Comprehensive Income [Extensible Enumeration]

Operating Expenses

Restructuring

Restructuring Charges

$ 3,781

Restructuring Charges, Statement of Income or Comprehensive Income [Extensible Enumeration]

Operating Expenses

Other operating expense | fiscal year 2023 initiative [Member] | One-time Employee Termination Benefits

Restructuring and Related Activities [Abstract]

Restructuring Charges

$ 1,712

Restructuring

Restructuring Charges

1,712

Other operating expense | fiscal year 2023 initiative [Member] | impairment charges

Restructuring and Related Activities [Abstract]

Restructuring Charges

640

Restructuring

Restructuring Charges

640

Other operating expense | fiscal year 2023 initiative [Member] | Lease and other contract terminations

Restructuring and Related Activities [Abstract]

Restructuring Charges

1,429

Restructuring

Restructuring Charges

1,429

Other operating expense | Fiscal year 2024 initiative [Member]

Restructuring and Related Activities [Abstract]

Restructuring Charges, Statement of Income or Comprehensive Income [Extensible Enumeration]

Operating Expenses

Restructuring

Restructuring Charges, Statement of Income or Comprehensive Income [Extensible Enumeration]

Operating Expenses

Cost of goods sold | fiscal year 2023 initiative [Member]

Restructuring and Related Activities [Abstract]

Restructuring Charges

$ 18,955

Restructuring Charges, Statement of Income or Comprehensive Income [Extensible Enumeration]

Cost of goods sold

Restructuring

Restructuring Charges

$ 18,955

Restructuring Charges, Statement of Income or Comprehensive Income [Extensible Enumeration]

Cost of goods sold

Cost of goods sold | fiscal year 2023 initiative [Member] | One-time Employee Termination Benefits

Restructuring and Related Activities [Abstract]

Restructuring Charges

$ 0

Restructuring

Restructuring Charges

Cost of goods sold | fiscal year 2023 initiative [Member] | impairment charges

Restructuring and Related Activities [Abstract]

Restructuring Charges

2,159

Restructuring

Restructuring Charges

2,159

Cost of goods sold | fiscal year 2023 initiative [Member] | Lease and other contract terminations

Restructuring and Related Activities [Abstract]

Restructuring Charges

16,796

Restructuring

Restructuring Charges

$ 16,796

Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Jun. 29, 2024	Mar. 30, 2024
Current assets:
Cash and cash equivalents	$ 1,082,415	$ 1,029,258
Accounts receivable, net of allowance of $378 and $313 as of June 29, 2024 and March 30, 2024, respectively	424,601	412,960
Inventories	726,558	710,555
Prepaid expenses	30,218	40,563
Other Receivables, Net, Current	15,356	14,427
Other current assets	99,046	78,993
Disposal Group, Including Discontinued Operation, Assets	0	159,278
Total current assets	2,378,194	2,446,034
Property and equipment, net of accumulated depreciation of $1,735,376 and $1,683,592 as of June 29, 2024 and March 30, 2024, respectively	866,836	870,982
Goodwill	2,533,457	2,534,601
Intangible assets, net	473,589	509,383
Long-term investments	25,716	23,252
Other non-current assets	169,507	170,383
Total assets	6,447,299	6,554,635
Current liabilities:
Accounts payable	304,381	252,993
Accrued liabilities	300,027	336,767
Long-term Debt, Current Maturities	411,853	438,740
Other current liabilities	200,283	113,215
Disposal Group, Including Discontinued Operation, Liabilities	0	88,372
Total current liabilities	1,216,544	1,230,087
Long-Term Debt, Excluding Current Maturities	1,549,257	1,549,272
Other long-term liabilities	195,243	218,904
Total liabilities	2,961,044	2,998,263
Stockholders’ equity:
Preferred stock, $.0001 par value; 5,000 shares authorized; no shares issued and outstanding	0	0
Common stock and additional paid-in capital, $.0001 par value; 405,000 shares authorized; 94,962 and 95,798 shares issued and outstanding at June 29, 2024 and March 30, 2024, respectively	3,581,468	3,651,067
Accumulated other comprehensive loss	(6,029)	(5,097)
Accumulated deficit	(89,184)	(89,598)
Total stockholders’ equity	3,486,255	3,556,372
Total liabilities and stockholders’ equity	$ 6,447,299	$ 6,554,635

Income Taxes	3 Months Ended
Income Taxes	Jun. 29, 2024
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXES The Company’s income tax benefit was $1.1 million and $8.1 million for the three months ended June 29, 2024 and July 1, 2023, respectively. The Company’s effective tax rate was 157.2% and 15.7% for the three months ended June 29, 2024 and July 1, 2023, respectively. The Company's effective tax rate for the three months ended June 29, 2024 differed from the statutory rate primarily due to tax rate differences in foreign jurisdictions, Global Intangible Low-Taxed Income ("GILTI"), domestic tax credits generated and discrete tax charges. After consideration of pretax income taxed discretely in the period, the Company recognized a tax benefit associated with its ongoing operations and the quarter-to-date loss, which was partially offset by a $4.5 million discrete tax expense recorded during the three months ended June 29, 2024. The discrete tax expense primarily related to the tax effects of the sale of the Company's assembly and test operations in China (refer to Note 4 for additional information). The Company's effective tax rate for the three months ended July 1, 2023 differed from the statutory rate primarily due to tax rate differences in foreign jurisdictions, GILTI and domestic tax credits generated.

- Definition

The entire disclosure for income tax.

+ References

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

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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 21
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-21

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-Section 50
-Paragraph 17
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-17

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-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
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-URI https://asc.fasb.org/1943274/2147479360/740-10-S99-2

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-Topic 740
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482603/740-30-50-2

+ Details

Inventories

3 Months Ended

Jun. 29, 2024

Inventory Disclosure [Abstract]

INVENTORIES

The components of inventories, net of reserves, are as follows (in thousands):


	June 29, 2024		March 30, 2024
Raw materials	$	209,573	$	201,748
Work in process	354,461		347,175
Finished goods	162,524		161,632
Total inventories	$	726,558	$	710,555

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Thousands	Jun. 29, 2024	Jul. 01, 2023
Pay vs Performance Disclosure
Numerator for basic and diluted net income (loss) per share — net income (loss) available to common stockholders	$ 414	$ (43,580)

- 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

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Jun. 29, 2024	Jul. 01, 2023
Cash flows from operating activities:
Net income (loss)	$ 414	$ (43,580)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depreciation	41,279	50,033
Intangible assets amortization	34,871	30,979
Deferred income taxes	(25,604)	(18,295)
Stock-based compensation expense	42,366	38,445
Other, net	15,690	3,567
Changes in operating assets and liabilities:
Accounts receivable, net	(11,637)	(3,349)
Inventories	(14,362)	(121,682)
Prepaid expenses and other assets	(2,798)	(756)
Accounts payable and accrued liabilities	19,897	146,278
Income taxes payable and receivable	(22,588)	(6,800)
Other liabilities	3,557	(29,951)
Net cash provided by operating activities	81,085	44,889
Cash flows from investing activities:
Purchase of property and equipment	(38,232)	(39,469)
Proceeds from Sale of Property, Plant, and Equipment	117	41,707
Proceeds from Divestiture of Businesses	55,576	0
Other investing activities	(34,646)	(6,181)
Net cash used in investing activities	(17,185)	(3,943)
Cash flows from financing activities:
Repurchase of common stock, including transaction costs	(124,928)	(100,015)
Proceeds from the issuance of common stock	9,511	10,006
Tax withholding paid on behalf of employees for restricted stock units	(7,265)	(5,354)
Repayments of Debt	26,661	0
Purchase and supply commitment, Supplies Proceeds	127,024	0
Other financing activities	(7,206)	(9,822)
Net cash used in financing activities	(29,525)	(105,185)
Effect of exchange rate changes on cash, cash equivalents and restricted cash	(1,218)	(276)
Net increase (decrease) in cash, cash equivalents and restricted cash	33,157	(64,515)
Cash, cash equivalents and restricted cash at the beginning of the period	1,049,258	808,943
Cash, cash equivalents and restricted cash at the end of the period	1,082,415	744,428
Capital expenditures included in liabilities	$ 58,917	$ 25,123

Goodwill and Intangible Assets

3 Months Ended

Jun. 29, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets Disclosure [Text Block]

GOODWILL AND INTANGIBLE ASSETS

The changes in the carrying amount of goodwill are as follows (in thousands):


	HPA		CSG		ACG		Total
Balance as of March 30, 2024 (1)	$	517,542	$	300,299	$	1,716,760	$	2,534,601
Goodwill written off related to sale of business (2)	—		(200)		(800)		(1,000)
Anokiwave, Inc. measurement period adjustments	(144)		—		—		(144)
Balance as of June 29, 2024 (1)	$	517,398	$	300,099	$	1,715,960	$	2,533,457

(1) The Company’s goodwill balance is presented net of accumulated impairment losses totaling $903.4 million as of both June 29, 2024 and March 30, 2024, which were recognized in fiscal years 2009, 2013, 2014, 2022, 2023 and 2024.

(2) Refer to Note 4 for additional information.

The following table summarizes information regarding the gross carrying amounts and accumulated amortization of intangible assets (in thousands):


	June 29, 2024				March 30, 2024
	Gross Carrying Amount		Accumulated Amortization		Gross Carrying Amount		Accumulated Amortization
Developed technology	$	824,051	$	432,049	$	903,089	$	484,347
Customer relationships	100,040		72,588		100,040		67,999
Technology licenses	54,669		10,726		54,869		6,525
Trade names	700		87		1,610		939
In-process research and development	9,579		N/A		9,585		N/A
Total (1)	$	989,039	$	515,450	$	1,069,193	$	559,810

(1) Amounts include the impact of foreign currency translation.

At the beginning of each fiscal year, the Company removes the gross asset and accumulated amortization amounts of intangible assets that have reached the end of their useful lives and have been fully amortized. Useful lives are estimated based on the expected economic benefit to be derived from the intangible assets.

Long-Term Debt

3 Months Ended

Jun. 29, 2024

Debt Disclosure [Abstract]

DEBT

The following table summarizes the outstanding debt (in thousands):


	June 29, 2024		March 30, 2024
1.750% senior notes due 2024	$	412,463	$	439,738
4.375% senior notes due 2029	850,000		850,000
3.375% senior notes due 2031	700,000		700,000
Unamortized premium, discount and issuance costs, net	(1,353)		(1,726)
Total debt	1,961,110		1,988,012
Less current portion of debt	(411,853)		(438,740)
Total long-term debt	$	1,549,257	$	1,549,272

Credit Agreement

On April 23, 2024, the Company entered into a five-year unsecured senior credit facility pursuant to a credit agreement with Bank of America, N.A., as administrative agent, swing line lender and letter of credit issuer and a syndicate of lenders (the "Credit Agreement"), which replaced the previous credit agreement dated as of September 29, 2020. The Credit Agreement provides for a $325.0 million senior revolving line of credit (the "Revolving Facility"). Up to $25.0 million of the Revolving Facility may be used for the issuance of standby letters of credit and up to $10.0 million of the Revolving Facility may be used for swing line advances (i.e., short-term borrowings made available from the lead lender). The Company may request at any time that the Revolving Facility be increased by up to $325.0 million, subject to securing additional funding commitments from existing or new lenders. The Revolving Facility is available to finance working capital, capital expenditures and other lawful corporate purposes. The initial maturity date of the Revolving Facility is April 23, 2029, which may be extended by up to two years by exercising extension options provided in the Credit Agreement.

At the Company’s option, loans under the Credit Agreement bear interest at (i) the Applicable Rate (as defined in the Credit Agreement) plus Term SOFR (as defined in the Credit Agreement) or (ii) the Applicable Rate plus a rate equal to the highest of (a) the federal funds rate plus 0.50%, (b) the prime rate of Bank of America, N.A., or (c) Term SOFR plus 1.00% (the “Base Rate”). All swing line loans bear interest at a rate equal to the Applicable Rate plus the Base Rate. Term SOFR is the rate per annum equal to the forward-looking SOFR term rate for interest periods of one, three or six months, as selected by the Company, plus an adjustment of 0.10%. The Applicable Rate is determined by reference to a pricing grid based on the Consolidated Leverage Ratio (as defined in the Credit Agreement) or, at the option of the Company, the Debt Rating (as defined in the Credit Agreement). The Applicable Rate for Term SOFR loans ranges from 1.000% per annum to 1.750% per annum and the Applicable Rate for Base Rate loans ranges from 0.000% per annum to 0.750% per annum. Undrawn amounts under the Revolving Facility are subject to a commitment fee ranging from 0.125% to 0.275%. Interest for Term SOFR loans is payable at the end of each applicable interest period or at three-month intervals, if such interest period exceeds three months. Interest for Base Rate loans is payable quarterly in arrears. The Company pays a letter of credit fee equal to the Applicable Rate multiplied by the daily amount available to be drawn under any letter of credit, a fronting fee and any customary documentary and processing charges for any letter of credit issued under the Credit Agreement.

During the three months ended June 29, 2024, there were no borrowings under the Revolving Facility.

The Credit Agreement contains various conditions, covenants and representations with which the Company must be in compliance in order to borrow funds and avoid an event of default. As of June 29, 2024, the Company was in compliance with these covenants.

Senior Notes due 2024

On December 14, 2021, the Company issued $500.0 million aggregate principal amount of its 1.750% senior notes due 2024 (the "2024 Notes"). The 2024 Notes will mature on December 15, 2024, unless earlier redeemed in accordance with their terms. The 2024 Notes are senior unsecured obligations of the Company and are guaranteed, jointly and severally, by certain of the Company's U.S. subsidiaries (the "Guarantors").

The 2024 Notes were issued pursuant to an indenture, dated as of December 14, 2021 (the "2021 Indenture"), by and among the Company, the Guarantors and Computershare Trust Company, N.A., as trustee. The 2021 Indenture contains customary events of default, including payment default, exchange default, failure to provide certain notices thereunder and certain provisions related to bankruptcy events. The 2021 Indenture also contains customary negative covenants.

In fiscal 2024, the Company repurchased $60.3 million of the principal amount of the 2024 Notes, plus accrued and unpaid interest, on the open market. In the first quarter of fiscal 2025, the Company repurchased $27.3 million of the principal amount of the 2024 Notes, plus accrued and unpaid interest, on the open market, and the Company recognized a net gain on debt extinguishment of $0.6 million, which is included in "Other income, net" in the Condensed Consolidated Statement of Operations. The remaining principal amount of the 2024 Notes of $412.5 million is included in "Current portion of long-term debt" in the Condensed Consolidated Balance Sheet as of June 29, 2024.

Interest is payable on the 2024 Notes on June 15 and December 15 of each year. The Company paid interest of $3.6 million and $4.4 million on the 2024 Notes during the three months ended June 29, 2024 and July 1, 2023, respectively.

Senior Notes due 2029

On September 30, 2019, the Company issued $350.0 million aggregate principal amount of its 4.375% senior notes due 2029 (the "Initial 2029 Notes"). On December 20, 2019, and June 11, 2020, the Company issued an additional $200.0 million and $300.0 million, respectively, aggregate principal amount of such notes (together, the "Additional 2029 Notes" and collectively with the Initial 2029 Notes, the "2029 Notes"). The 2029 Notes will mature on October 15, 2029, unless earlier redeemed in accordance with their terms. The 2029 Notes are senior unsecured obligations of the Company and are guaranteed, jointly and severally, by the Guarantors.

The Initial 2029 Notes were issued pursuant to an indenture, dated as of September 30, 2019, by and among the Company, the Guarantors and MUFG Union Bank, N.A., as trustee, and the Additional 2029 Notes were issued pursuant to supplemental indentures, dated as of December 20, 2019, and June 11, 2020 (such indenture and supplemental indentures, collectively, the "2019 Indenture"). The 2019 Indenture contains substantially the same customary events of default and negative covenants as the 2021 Indenture.

Interest is payable on the 2029 Notes on April 15 and October 15 of each year. The Company paid interest of $18.6 million on the 2029 Notes during both the three months ended June 29, 2024 and July 1, 2023.

Senior Notes due 2031

On September 29, 2020, the Company issued $700.0 million aggregate principal amount of its 3.375% senior notes due 2031 (the "2031 Notes"). The 2031 Notes will mature on April 1, 2031, unless earlier redeemed in accordance with their terms. The 2031 Notes are senior unsecured obligations of the Company and are guaranteed, jointly and severally, by the Guarantors.

The 2031 Notes were issued pursuant to an indenture, dated as of September 29, 2020, by and among the Company, the Guarantors and MUFG Union Bank, N.A., as trustee (the "2020 Indenture"). The 2020 Indenture contains substantially the same customary events of default and negative covenants as the 2021 Indenture.

Interest is payable on the 2031 Notes on April 1 and October 1 of each year. The Company paid interest of $11.8 million on the 2031 Notes during the three months ended June 29, 2024. The Company paid no interest on the 2031 Notes during the three months ended July 1, 2023.

Fair Value of Debt

The Company's debt is carried at amortized cost and is measured at fair value quarterly for disclosure purposes. The estimated fair value of the 2024 Notes, the 2029 Notes and the 2031 Notes as of June 29, 2024 was $404.2 million, $803.8 million and $601.1 million, respectively (compared to the outstanding principal amount of $412.5 million, $850.0 million and $700.0 million, respectively). The estimated fair value of the 2024 Notes, the 2029 Notes and the 2031 Notes as of March 30, 2024 was $426.9 million, $797.6 million and $603.8 million, respectively (compared to the outstanding principal amount of $439.7 million, $850.0 million and $700.0 million, respectively). The Company considers its debt to be Level 2 in the fair value hierarchy. Fair values are estimated based on quoted market prices for identical or similar instruments. The 2024 Notes, the 2029 Notes and the 2031 Notes currently trade over-the-counter, and the fair values were estimated based upon the value of the last trade at the end of the period.

Interest Expense

During the three months ended June 29, 2024, the Company recognized $17.7 million of interest expense, primarily related to the 2024 Notes, the 2029 Notes and the 2031 Notes, which was partially offset by interest capitalized to property and equipment of $0.6 million. During the three months ended July 1, 2023, the Company recognized $18.2 million of interest expense, primarily related to the 2024 Notes, the 2029 Notes and the 2031 Notes, which was partially offset by interest capitalized to property and equipment of $0.9 million.

- Definition

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

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+ Details

Cover Page - shares	3 Months Ended
Cover Page - shares	Jun. 29, 2024	Jul. 24, 2024
Cover [Abstract]
Document Transition Report	false
Document Quarterly Report	true
Title of 12(b) Security	Common Stock, $0.0001 par value
Entity Current Reporting Status	Yes
Entity Incorporation, State or Country Code	DE
Entity Registrant Name	Qorvo, Inc.
City Area Code	336
Entity Central Index Key	0001604778
Document Type	10-Q
Document Period End Date	Jun. 29, 2024
Entity File Number	001-36801
Amendment Flag	false
Document Fiscal Period Focus	Q1
Current Fiscal Year End Date	--03-29
Entity Filer Category	Large Accelerated Filer
Entity Emerging Growth Company	false
Entity Small Business	false
Entity Common Stock, Shares Outstanding		94,861,346
Entity Address, Address Line One	7628 Thorndike Road
Local Phone Number	664-1233
Entity Interactive Data Current	Yes
Entity Shell Company	false
Trading Symbol	QRVO
Security Exchange Name	NASDAQ
Entity Tax Identification Number	46-5288992
Entity Address, City or Town	Greensboro,
Entity Address, State or Province	NC
Entity Address, Postal Zip Code	27409-9421
Document Fiscal Year Focus	2025

Condensed Consolidated Statements of Comprehensive Income (Loss) (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Jun. 29, 2024	Jul. 01, 2023
Statement of Comprehensive Income [Abstract]
Numerator for basic and diluted net income (loss) per share — net income (loss) available to common stockholders	$ 414	$ (43,580)
Other comprehensive loss, net of tax:
Foreign currency translation adjustment, including intra-entity foreign currency transactions that are of a long-term investment nature	(932)	(859)
Reclassification adjustments, net of tax:
Amortization of pension actuarial gain	0	(3)
Other comprehensive loss	(932)	(862)
Total comprehensive loss	$ (518)	$ (44,442)

- Definition

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

+ References + Details

- Definition

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

+ References

+ Details

- Definition

Amount after tax, before reclassification adjustments of gain (loss) on foreign currency translation adjustments, foreign currency transactions designated and effective as economic hedges of a net investment in a foreign entity and intra-entity foreign currency transactions that are of a long-term-investment nature.

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- Definition

Amount after tax and reclassification adjustments of other comprehensive income (loss).

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+ Details

Inventories (Tables)

3 Months Ended

Jun. 29, 2024

Inventory Disclosure [Abstract]

Components of inventories

The components of inventories, net of reserves, are as follows (in thousands):


	June 29, 2024		March 30, 2024
Raw materials	$	209,573	$	201,748
Work in process	354,461		347,175
Finished goods	162,524		161,632
Total inventories	$	726,558	$	710,555

Operating Segment Information

3 Months Ended

Jun. 29, 2024

Segment Reporting [Abstract]

OPERATING SEGMENT INFORMATION

The Company's three operating and reportable segments, HPA, CSG, and ACG, are based on the organizational structure and information reviewed by the Company's Chief Executive Officer, who is also the Company's chief operating decision maker ("CODM"). The CODM allocates resources and evaluates the performance of each of the three operating segments primarily based on operating income. The Company’s manufacturing facilities service and provide benefit to all three operating segments and the operating costs of the facilities are reflected in the cost of goods sold for each operating segment. The Company’s operating segments do not record intercompany revenue. The Company does not allocate gains and losses from investments, interest expense, other income (expense), or taxes to operating segments. The CODM does not evaluate operating segments using discrete asset information.

HPA is a leading global supplier of radio frequency ("RF"), analog mixed signal and power management solutions. HPA leverages a diverse portfolio of differentiated process technologies and products to serve customers in automotive, consumer, defense and aerospace, infrastructure, industrial and enterprise, and mobile markets.

CSG is a leading global supplier of connectivity and sensor solutions. CSG leverages broad expertise spanning ultra-wideband, Matter®, Bluetooth® Low Energy, Zigbee®, Thread®, Wi-Fi®, cellular Internet of Things, and microelectromechanical force sensing touch sensors to serve customers in automotive, consumer, industrial and enterprise, and mobile markets.

ACG is a leading global supplier of advanced cellular RF solutions for smartphones and consumer devices including tablets and wearables. ACG leverages world-class technology and systems-level expertise to deliver a broad portfolio of high-performance discrete and highly integrated cellular products.

The "All other" category includes operating expenses such as stock-based compensation expense, amortization of intangible assets, restructuring-related charges, acquisition and integration-related costs, gain or loss on assets, costs associated with upgrading our core business systems and other miscellaneous corporate overhead expenses that the Company does not allocate to its operating segments because these expenses are not included in the segment operating performance measures evaluated by the Company’s CODM. Except as discussed above regarding the "All other" category, the Company’s accounting policies for segment reporting are the same as for the Company as a whole.

The following tables present details of the Company’s operating and reportable segments and a reconciliation of the "All other" category (in thousands):


	Three Months Ended
	June 29, 2024		July 1, 2023
Revenue:
HPA	$	129,468	$	139,692
CSG	114,853		99,263
ACG	642,350		412,209
Total revenue	$	886,671	$	651,164
Operating income (loss):
HPA	$	4,881	$	23,964
CSG	(19,501)		(20,161)
ACG	116,449		44,998
All other	(97,223)		(96,937)
Operating income (loss)	4,606		(48,136)
Interest expense	(17,094)		(17,261)
Other income, net	11,765		13,716
Loss before income taxes	$	(723)	$	(51,681)


	Three Months Ended
	June 29, 2024		July 1, 2023
Reconciliation of "All other" category:
Stock-based compensation expense	$	(42,366)	$	(38,445)
Amortization of intangible assets	(30,474)		(30,872)
Restructuring-related charges (1)	(19,574)		(22,736)
Acquisition and integration-related costs	(2,582)		(1,195)
Other	(2,227)		(3,689)
Loss from operations for "All other"	$	(97,223)	$	(96,937)

(1) Refer to Note 11 for additional information.

- 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.

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+ Details

Restructuring and Related Activities (Tables)

3 Months Ended

Jun. 29, 2024

Restructuring and Related Activities [Abstract]

Schedule of restructuring activity

The following table summarizes charges resulting from the 2024 Restructuring Initiative (in thousands) during the three months ended June 29, 2024:


	Other Operating Expense
Contract termination and other costs	$	3,352
Asset impairment costs	8,076
One-time employee termination benefits	5,326
Total	$	16,754

The following table summarizes the charges resulting from the 2023 Restructuring Initiatives (in thousands):


	Three Months Ended June 29, 2024		Three Months Ended July 1, 2023
	Other Operating Expense		Cost of Goods Sold		Other Operating Expense		Total
Contract termination and other costs	$	94	$	16,796	$	1,429	$	18,225
Asset impairment costs	—		2,159		640		2,799
One-time employee termination benefits	321		—		1,712		1,712
Total	$	415	$	18,955	$	3,781	$	22,736

Restructuring Liabilities Rollforward

The following table summarizes the liability activity related to the 2024 Restructuring Initiative for the three months ended June 29, 2024 (in thousands):


	One-Time Employee Termination Benefits		Contract Termination and Other Costs		Total
Accrued restructuring balance as of March 30, 2024	$	7,432	$	4,080	$	11,512
Costs incurred and charged to expense	5,326		3,352		8,678
Cash payments	(12,512)		(4,888)		(17,400)
Accrued restructuring balance as of June 29, 2024	$	246	$	2,544	$	2,790

The following table summarizes the liability activity related to the 2023 Restructuring Initiatives for the three months ended June 29, 2024 (in thousands):


	One-Time Employee Termination Benefits		Contract Termination and Other Costs		Total
Accrued restructuring balance as of March 30, 2024	$	347	$	9,308	$	9,655
Costs incurred and charged to expense	321		94		415
Cash payments	(575)		(9,308)		(9,883)
Accrued restructuring balance as of June 29, 2024	$	93	$	94	$	187

Goodwill and Intangible Assets (Tables)

3 Months Ended

Jun. 29, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Goodwill [Table Text Block]

The changes in the carrying amount of goodwill are as follows (in thousands):


	HPA		CSG		ACG		Total
Balance as of March 30, 2024 (1)	$	517,542	$	300,299	$	1,716,760	$	2,534,601
Goodwill written off related to sale of business (2)	—		(200)		(800)		(1,000)
Anokiwave, Inc. measurement period adjustments	(144)		—		—		(144)
Balance as of June 29, 2024 (1)	$	517,398	$	300,099	$	1,715,960	$	2,533,457

(2) Refer to Note 4 for additional information.

Schedule of finite-lived and indefinite-lived intangible assets [Table Text Block]

The following table summarizes information regarding the gross carrying amounts and accumulated amortization of intangible assets (in thousands):


	June 29, 2024				March 30, 2024
	Gross Carrying Amount		Accumulated Amortization		Gross Carrying Amount		Accumulated Amortization
Developed technology	$	824,051	$	432,049	$	903,089	$	484,347
Customer relationships	100,040		72,588		100,040		67,999
Technology licenses	54,669		10,726		54,869		6,525
Trade names	700		87		1,610		939
In-process research and development	9,579		N/A		9,585		N/A
Total (1)	$	989,039	$	515,450	$	1,069,193	$	559,810

(1) Amounts include the impact of foreign currency translation.

- Definition

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

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+ Details

Investments and Fair Value of Financial Instruments (Details) - USD ($) $ in Millions	Jun. 29, 2024	Mar. 30, 2024
Mutual Fund
Fair Value, Measured on Recurring Basis, Gain (Loss) Included in Earnings [Line Items]
Deferred Compensation Plan Assets	$ 55.5	$ 52.3

Stock Repurchases (Details) - USD ($) $ in Thousands, shares in Millions	3 Months Ended
	Jun. 29, 2024	Jul. 01, 2023	Nov. 02, 2022
Class of Stock [Line Items]
Stock Repurchased During Period, Shares	1.2	1.0
Stock Repurchased During Period, Value	$ 125,725	$ 100,612
Stock Repurchase Program, Remaining Authorized Repurchase Amount	$ 1,180,100
Document Period End Date	Jun. 29, 2024
November 2, 2022 Program
Class of Stock [Line Items]
Stock Repurchase Program, Authorized Amount			$ 2,000,000

- Definition

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

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- Definition

Number of shares that have been repurchased during the period and have not been retired and are not held in treasury. Some state laws may govern the circumstances under which an entity may acquire its own stock and prescribe the accounting treatment therefore. This element is used when state law does not recognize treasury stock.

+ References + Details

- Definition

Equity impact of the value of stock that has been repurchased during the period and has not been retired and is not held in treasury. Some state laws may mandate the circumstances under which an entity may acquire its own stock and prescribe the accounting treatment therefore. This element is used when state law does not recognize treasury stock.

+ References + Details

Net Income Per Share (Tables)

3 Months Ended

Jun. 29, 2024

Earnings Per Share [Abstract]

Reconciliation of the numerators and denominators in the computation of basic and diluted net loss per share

The following table sets forth the computation of basic and diluted net income (loss) per share (in thousands, except per share data):


	Three Months Ended
	June 29, 2024		July 1, 2023
Numerator:
Numerator for basic and diluted net income (loss) per share — net income (loss) available to common stockholders	$	414	$	(43,580)
Denominator:
Denominator for basic net income (loss) per share — weighted-average shares	95,467		98,509
Effect of dilutive securities:
Stock-based awards	1,043		—
Denominator for diluted net income (loss) per share — adjusted weighted-average shares and assumed conversions	96,510		98,509
Basic net income (loss) per share	$	0.00	$	(0.44)
Diluted net income (loss) per share	$	0.00	$	(0.44)

Commitments and Contingent Liabilities	3 Months Ended
Commitments and Contingent Liabilities	Jun. 29, 2024
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies Disclosure [Text Block]	COMMITMENTS AND CONTINGENT LIABILITIES Legal Matters The Company is involved in various legal proceedings and claims that have arisen in the ordinary course of business that have not been fully adjudicated. The Company accrues a liability for legal contingencies when it believes that it is both probable that a liability has been incurred and the amount of the loss can be reasonably estimated. The Company regularly evaluates developments in its legal matters that could affect the amount of the previously accrued liability and records adjustments as appropriate. Although it is not possible to predict with certainty the outcome of the unresolved legal matters, it is the opinion of management that these matters will not, individually or in the aggregate, have a material adverse effect on the Company’s consolidated financial position or results of operations. The aggregate range of reasonably possible losses in excess of accrued liabilities, if any, associated with these unresolved legal matters is not material.

Insider Trading Arrangements

3 Months Ended

Jun. 29, 2024

Trading Arrangements, by Individual

Material Terms of Trading Arrangement

OTHER INFORMATION.

Rule 10b5-1 and Non-Rule 10b5-1 Trading Arrangements

The following table describes actions by our directors or Section 16 officers with respect to plans intended to satisfy the affirmative defense conditions of Rule 10b5-1(c) during the first quarter of fiscal 2025. None of our directors or Section 16 officers took actions with respect to a "non-Rule 10b5-1 trading arrangement," as such term is defined in Item 408(c) of Regulation S-K, during the first quarter of fiscal 2025.

Name and Title

Action

Date

Expiration of Plan

Number of Shares to be Sold (1)

Grant A. Brown Senior Vice President and Chief Financial Officer

Adoption

5/8/2024

7/2/2025

20,535

Paul J. Fego Senior Vice President of Global Operations

Adoption

5/22/2024

12/31/2025

24,229

Gina B. Harrison Vice President and Corporate Controller

Adoption

6/7/2024

6/6/2025

2,753

(1) Represents the gross number of shares subject to the Rule 10b5-1 plan, excluding the potential effect of shares withheld for taxes. Amounts may include shares to be earned as performance-based restricted stock unit awards ("PBRSUs") and are presented at their target amounts. The actual number of PBRSUs earned following the end of the applicable performance period, if any, will depend on the relative attainment of the performance metrics.

Grant Brown [Member]

Trading Arrangements, by Individual

Name

Grant A. Brown

Title

Senior Vice President and Chief Financial Officer

Rule 10b5-1 Arrangement Adopted

true

Adoption Date

5/8/2024

Aggregate Available

20,535

Paul Fego [Member]

Trading Arrangements, by Individual

Name

Paul J. Fego

Title

Senior Vice President of Global Operations

Rule 10b5-1 Arrangement Adopted

true

Adoption Date

5/22/2024

Aggregate Available

24,229

Gina Harrison [Member]

Trading Arrangements, by Individual

Name

Gina B. Harrison

Title

Vice President and Corporate Controller

Rule 10b5-1 Arrangement Adopted

true

Adoption Date

6/7/2024

Aggregate Available

2,753

Net Income Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Jun. 29, 2024	Jul. 01, 2023
Earnings Per Share [Abstract]
Document Period End Date	Jun. 29, 2024
Numerator:
Numerator for basic and diluted net income (loss) per share — net income (loss) available to common stockholders	$ 414	$ (43,580)
EPS Line Items
Denominator for basic net income (loss) per share — weighted average shares	95,467	98,509
Stock-based awards	1,043	0
Denominator for diluted net income (loss) per share — adjusted weighted average shares and assumed conversions	96,510	98,509
Basic net income (loss) per share (in dollars per share)	$ 0.00	$ (0.44)
Diluted net income (loss) per share (in dollars per share)	$ 0.00	$ (0.44)
Antidilutive shares excluded from the computation of diluted shares outstanding		1,100

Long-Term Debt Fair Value of Debt (Policies)	3 Months Ended
Long-Term Debt Fair Value of Debt (Policies)	Jun. 29, 2024
Debt Disclosure [Abstract]
Fair value of debt [Policy Text Block]	The Company's debt is carried at amortized cost and is measured at fair value quarterly for disclosure purposes. The estimated fair value of the 2024 Notes, the 2029 Notes and the 2031 Notes as of June 29, 2024 was $404.2 million, $803.8 million and $601.1 million, respectively (compared to the outstanding principal amount of $412.5 million, $850.0 million and $700.0 million, respectively). The estimated fair value of the 2024 Notes, the 2029 Notes and the 2031 Notes as of March 30, 2024 was $426.9 million, $797.6 million and $603.8 million, respectively (compared to the outstanding principal amount of $439.7 million, $850.0 million and $700.0 million, respectively). The Company considers its debt to be Level 2 in the fair value hierarchy. Fair values are estimated based on quoted market prices for identical or similar instruments. The 2024 Notes, the 2029 Notes and the 2031 Notes currently trade over-the-counter, and the fair values were estimated based upon the value of the last trade at the end of the period.

Debt (Details) - USD ($)		3 Months Ended
Debt (Details) - USD ($)	Apr. 23, 2024	Jun. 29, 2024	Jul. 01, 2023	Mar. 30, 2024	Dec. 14, 2021	Sep. 29, 2020	Jun. 11, 2020	Dec. 20, 2019	Sep. 30, 2019
Debt Instrument [Line Items]
Long-term debt		$ 1,549,257,000		$ 1,549,272,000
Debt Instrument, Unamortized Discount (Premium) and Debt Issuance Costs, Net		(1,353,000)		(1,726,000)
Debt, Long-Term and Short-Term, Combined Amount		1,961,110,000		1,988,012,000
Long-term Debt, Current Maturities		(411,853,000)		(438,740,000)
Interest Expense, Borrowings		17,700,000	$ 18,200,000
Interest Costs Capitalized		600,000	900,000
Interest expense		17,094,000	17,261,000
4.375% senior notes due 2029
Debt Instrument [Line Items]
Debt Instrument, Face Amount		850,000,000		850,000,000			$ 300,000,000.0	$ 200,000,000.0	$ 350,000,000.0
Interest Paid, Including Capitalized Interest, Operating and Investing Activities		18,600,000	18,600,000
Debt Instrument, Interest Rate, Stated Percentage									4.375%
4.375% senior notes due 2029 \| Fair Value, Inputs, Level 2 [Member]
Debt Instrument [Line Items]
Long-term Debt, Fair Value		803,800,000		797,600,000
3.375% Senior Notes due 2031 [Member]
Debt Instrument [Line Items]
Debt Instrument, Face Amount		700,000,000		700,000,000		$ 700,000,000.0
Interest Paid, Including Capitalized Interest, Operating and Investing Activities		11,800,000	0
Debt Instrument, Interest Rate, Stated Percentage						3.375%
3.375% Senior Notes due 2031 [Member] \| Fair Value, Inputs, Level 2 [Member]
Debt Instrument [Line Items]
Long-term Debt, Fair Value		601,100,000		603,800,000
Senior Notes Due 2024 1.750%
Debt Instrument [Line Items]
Debt Instrument, Face Amount		412,463,000		439,738,000	$ 500,000,000.0
Interest Paid, Including Capitalized Interest, Operating and Investing Activities		3,600,000	$ 4,400,000
Debt Instrument, Interest Rate, Stated Percentage					1.75%
Debt Instrument, Repurchased Face Amount		27,300,000		60,300,000
Gain (Loss) on Repurchase of Debt Instrument		600,000
Senior Notes Due 2024 1.750% \| Fair Value, Inputs, Level 2 [Member]
Debt Instrument [Line Items]
Long-term Debt, Fair Value		404,200,000		$ 426,900,000
Credit Agreement \| Federal Funds Rate
Debt Instrument [Line Items]
Debt Instrument, Basis Spread on Variable Rate	0.50%
Credit Agreement \| Base Rate [Member]
Debt Instrument [Line Items]
Debt Instrument, Basis Spread on Variable Rate	1.00%
Credit Agreement \| Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate
Debt Instrument [Line Items]
Debt Instrument, Basis Spread on Variable Rate	0.10%
Credit Agreement \| Maximum [Member] \| Base Rate [Member]
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage	0.75%
Credit Agreement \| Maximum [Member] \| Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage	1.75%
Credit Agreement \| Maximum [Member] \| Loan Purchase Commitments
Debt Instrument [Line Items]
Line of Credit Facility, Unused Capacity, Commitment Fee Percentage	0.275%
Credit Agreement \| Minimum [Member] \| Base Rate [Member]
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage	0.00%
Credit Agreement \| Minimum [Member] \| Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage	1.00%
Credit Agreement \| Minimum [Member] \| Loan Purchase Commitments
Debt Instrument [Line Items]
Line of Credit Facility, Unused Capacity, Commitment Fee Percentage	0.125%
Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Proceeds from Lines of Credit		$ 0
Revolving Credit Facility [Member] \| Credit Agreement
Debt Instrument [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity	$ 325,000,000.0
Revolving Credit Facility [Member] \| Credit Agreement \| Standby Letters of Credit [Member]
Debt Instrument [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity	25,000,000.0
Revolving Credit Facility [Member] \| Credit Agreement \| Swing line advances
Debt Instrument [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity	$ 10,000,000.0

Investments and Fair Value of Financial Instruments	3 Months Ended
Investments and Fair Value of Financial Instruments	Jun. 29, 2024
Investments and Fair Value Measurements [Abstract]
Investments and Fair Value Measurements [Text Block]	INVESTMENTS AND FAIR VALUE MEASUREMENTSInvested funds under the Company's non-qualified deferred compensation plan are held in a rabbi trust and consist of mutual funds. The fair value of the mutual funds is calculated using the net asset value per share determined by quoted active market prices of the underlying investments and are considered Level 1 in the fair value hierarchy. The fair value of the mutual funds as of June 29, 2024 and March 30, 2024 was $55.5 million and $52.3 million, respectively.

Goodwill and Intangible Assets (Details) - USD ($) $ in Thousands	3 Months Ended
	Jun. 29, 2024	Jul. 01, 2023	Mar. 30, 2024
Goodwill and Intangible Assets [Line Items]
Intangible assets amortization	$ 34,871	$ 30,979
Goodwill	2,533,457		$ 2,534,601
Goodwill, Accumulated impairment losses and write-offs	903,400
Accumulated Amortization	515,450		559,810
Gross Carrying Amount	989,039		1,069,193
Disposal Group, Including Discontinued Operation, Goodwill, Noncurrent	(1,000)
Technology licenses
Goodwill and Intangible Assets [Line Items]
Gross Carrying Amount	54,669		54,869
Accumulated Amortization	10,726		6,525
Trade Names
Goodwill and Intangible Assets [Line Items]
Gross Carrying Amount	700		1,610
Accumulated Amortization	87		939
Developed Technology
Goodwill and Intangible Assets [Line Items]
Gross Carrying Amount	824,051		903,089
Accumulated Amortization	432,049		484,347
Customer Relationships
Goodwill and Intangible Assets [Line Items]
Gross Carrying Amount	100,040		100,040
Accumulated Amortization	72,588		67,999
In-process research and development
Goodwill and Intangible Assets [Line Items]
IPRD	9,579		9,585
HPA
Goodwill and Intangible Assets [Line Items]
Goodwill	517,398		517,542
Disposal Group, Including Discontinued Operation, Goodwill, Noncurrent	0
CSG
Goodwill and Intangible Assets [Line Items]
Goodwill	300,099		300,299
Disposal Group, Including Discontinued Operation, Goodwill, Noncurrent	(200)
ACG
Goodwill and Intangible Assets [Line Items]
Goodwill	1,715,960		$ 1,716,760
Disposal Group, Including Discontinued Operation, Goodwill, Noncurrent	(800)
Anokiwave
Goodwill and Intangible Assets [Line Items]
Goodwill, Purchase Accounting Adjustments	(144)
Anokiwave \| HPA
Goodwill and Intangible Assets [Line Items]
Goodwill, Purchase Accounting Adjustments	(144)
Anokiwave \| CSG
Goodwill and Intangible Assets [Line Items]
Goodwill, Purchase Accounting Adjustments	0
Anokiwave \| ACG
Goodwill and Intangible Assets [Line Items]
Goodwill, Purchase Accounting Adjustments	$ 0

Business Acquisition Narrative (Details) - USD ($) $ in Thousands	Jun. 29, 2024	Mar. 30, 2024
Business Acquisition [Line Items]
Goodwill	$ 2,533,457	$ 2,534,601

- Definition

Amount, after accumulated impairment loss, of asset representing future economic benefit arising from other asset acquired in business combination or from joint venture formation or both, that is not individually identified and separately recognized.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 280
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+ Details

Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical) - USD ($) $ in Thousands	Jun. 29, 2024	Mar. 30, 2024
Statement of Financial Position [Abstract]
Common stock, shares outstanding	94,962,000	95,798,000
Accounts Receivable, Allowance for Credit Loss, Current	$ 378	$ 313
Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment	$ 1,735,376	$ 1,683,592
Preferred Stock, par value	$ 0.0001	$ 0.0001
Preferred Stock, Shares Authorized	5,000,000	5,000,000
Preferred Stock, Shares Issued	0	0
Preferred Stock, Shares Outstanding	0	0
Common Stock, par value	$ 0.0001	$ 0.0001
Common Stock, Shares Authorized	405,000,000	405,000,000
Common Stock, Shares, Issued	94,962,000	95,798,000

Condensed Consolidated Statements of Stockholders' Equity (Unaudited) - USD ($) shares in Thousands, $ in Thousands	Total	Common Stock	Accumulated Other Comprehensive Loss	Retained Earnings [Member]
Common Stock, Shares, Outstanding		98,649
Common stock and additional paid-in capital	$ 3,821,474
Stockholders' Equity Attributable to Parent	3,902,794
Accumulated Other Comprehensive Income (Loss), Net of Tax	(3,175)
Retained Earnings (Accumulated Deficit)	84,495
Net income (loss)	(43,580)	$ 0	$ 0	$ (43,580)
Other Comprehensive Income (Loss), Net of Tax	(862)	$ 0	(862)	0
Exercise Of Stock Options And Vesting Of Restricted Stock Units Net Of Shares Withheld For Employee Taxes Shares		170
Exercise Of Stock Options And Vesting Of Restricted Stock Units Net Of Shares Withheld For Employee Taxes	(4,422)	$ (4,422)	0	0
Stock Issued During Period, Shares, Employee Stock Purchase Plans		262
Stock Issued During Period, Value, Employee Stock Purchase Plan	$ 19,180	$ 19,180	0	0
Stock Repurchased During Period, Shares	(1,000)	(1,033)
Stock Repurchased During Period, Value	$ (100,612)	$ (59,697)	0	(40,915)
Stock-based compensation	39,725	$ 39,725	0	0
Payments for Repurchase of Common Stock	$ 100,015
Common Stock, Shares, Outstanding	98,048
Common stock and additional paid-in capital	$ 3,816,260
Stockholders' Equity Attributable to Parent	3,812,223
Accumulated Other Comprehensive Income (Loss), Net of Tax	(4,037)
Retained Earnings (Accumulated Deficit)	$ 0
Common Stock, Shares, Outstanding	95,798	95,798
Common stock and additional paid-in capital	$ 3,651,067
Stockholders' Equity Attributable to Parent	3,556,372
Accumulated Other Comprehensive Income (Loss), Net of Tax	(5,097)
Retained Earnings (Accumulated Deficit)	(89,598)
Net income (loss)	414	$ 0	0	414
Other Comprehensive Income (Loss), Net of Tax	(932)	$ 0	(932)	0
Exercise Of Stock Options And Vesting Of Restricted Stock Units Net Of Shares Withheld For Employee Taxes Shares		137
Exercise Of Stock Options And Vesting Of Restricted Stock Units Net Of Shares Withheld For Employee Taxes	(7,265)	$ (7,265)	0	0
Stock Issued During Period, Shares, Employee Stock Purchase Plans		266
Stock Issued During Period, Value, Employee Stock Purchase Plan	$ 19,787	$ 19,787	0	0
Stock Repurchased During Period, Shares	(1,200)	(1,239)
Stock Repurchased During Period, Value	$ (125,725)	$ (125,725)	0	0
Stock-based compensation	43,604	$ 43,604	$ 0	$ 0
Payments for Repurchase of Common Stock	$ 124,928
Common Stock, Shares, Outstanding	94,962
Common stock and additional paid-in capital	$ 3,581,468
Stockholders' Equity Attributable to Parent	3,486,255
Accumulated Other Comprehensive Income (Loss), Net of Tax	(6,029)
Retained Earnings (Accumulated Deficit)	$ (89,184)

Business Divestiture	3 Months Ended
Business Divestiture	Jun. 29, 2024
Discontinued Operations and Disposal Groups [Abstract]
Disposal Groups, Including Discontinued Operations, Disclosure	BUSINESS DIVESTITURE On December 16, 2023, the Company entered into a definitive agreement (the "Purchase Agreement") with Luxshare Precision Industry Co., Ltd. ("Luxshare") to divest its assembly and test operations in Beijing and Dezhou, China (the "Disposal Group") for preliminary cash proceeds of approximately $240.0 million (for the cash on hand of the disposed business, the assets and liabilities of the Disposal Group and inventory). In the fourth quarter of fiscal 2024, regulatory approvals were received, and the Disposal Group met the criteria to be classified as held for sale in accordance with Accounting Standards Codification 360, "Property, Plant and Equipment" ("ASC 360"). In accordance with ASC 805, "Business Combinations," the Disposal Group constituted a business, and therefore, the Company allocated $22.0 million of goodwill from three of its reporting units to assets held for sale based on a relative fair value basis. These reporting units were evaluated for impairment subsequent to the allocation of goodwill to the Disposal Group and it was determined that the fair value of all reporting units was in excess of their carrying amounts. Additionally, in accordance with ASC 360, the Disposal Group was measured at the lower of carrying value or fair value less costs to sell. As the carrying value of the Disposal Group exceeded the fair value less costs to sell, a loss of $35.3 million was recognized for the year ended March 30, 2024, which was recorded in "Other operating expense" in the Consolidated Statement of Operations. The divestiture of the Disposal Group did not meet the criteria to be reported as discontinued operations per ASC 205-20, "Presentation of Financial Statements: Discontinued Operations." The Company completed the sale of its assembly and test operations in China on May 2, 2024 for cash proceeds of approximately $232.0 million, resulting in an incremental loss of $8.0 million (which included an additional goodwill write-off of $1.0 million) recorded in "Other operating expense" in the Condensed Consolidated Statement of Operations for the three months ended June 29, 2024. The consideration received was for the cash on hand of the disposed business of $29.0 million, the assets and liabilities of the Disposal Group of $76.0 million and inventory of $127.0 million. The inventory amount relates to inventory that the Company sold to Luxshare and is obligated to repurchase at a future date subsequent to the performance of assembly and test services by Luxshare pursuant to a supply agreement. While legal title to the inventory resides with Luxshare, in accordance with ASC 606 "Revenue from Contracts with Customers," the Company will continue to recognize the inventory on its balance sheet and has recorded a financial liability (which is included in "Other current liabilities") equal to the cash received by the Company attributable to the inventory subject to repurchase. The cash received from the sale of the assets and liabilities of the Disposal Group of $76.0 million is included in cash flows from investing activities in the Condensed Consolidated Statement of Cash Flows for the three months ended June 29, 2024, net of a $20.0 million deposit received in fiscal 2024 upon execution of the Purchase Agreement (which was included in “Other investing activities” in the fiscal 2024 Consolidated Statement of Cash Flows). The cash received for the inventory subject to repurchase by the Company is included in cash flows from financing activities in the Condensed Consolidated Statement of Cash Flows for the three months ended June 29, 2024.

Operating Segment Information Segment Policy (Policies)	3 Months Ended
Operating Segment Information Segment Policy (Policies)	Jun. 29, 2024
Segment Reporting [Abstract]
Segment Reporting, Policy [Policy Text Block]	The Company's three operating and reportable segments, HPA, CSG, and ACG, are based on the organizational structure and information reviewed by the Company's Chief Executive Officer, who is also the Company's chief operating decision maker ("CODM"). The CODM allocates resources and evaluates the performance of each of the three operating segments primarily based on operating income. The Company’s manufacturing facilities service and provide benefit to all three operating segments and the operating costs of the facilities are reflected in the cost of goods sold for each operating segment. The Company’s operating segments do not record intercompany revenue. The Company does not allocate gains and losses from investments, interest expense, other income (expense), or taxes to operating segments. The CODM does not evaluate operating segments using discrete asset information. HPA is a leading global supplier of radio frequency ("RF"), analog mixed signal and power management solutions. HPA leverages a diverse portfolio of differentiated process technologies and products to serve customers in automotive, consumer, defense and aerospace, infrastructure, industrial and enterprise, and mobile markets. CSG is a leading global supplier of connectivity and sensor solutions. CSG leverages broad expertise spanning ultra-wideband, Matter®, Bluetooth® Low Energy, Zigbee®, Thread®, Wi-Fi®, cellular Internet of Things, and microelectromechanical force sensing touch sensors to serve customers in automotive, consumer, industrial and enterprise, and mobile markets. ACG is a leading global supplier of advanced cellular RF solutions for smartphones and consumer devices including tablets and wearables. ACG leverages world-class technology and systems-level expertise to deliver a broad portfolio of high-performance discrete and highly integrated cellular products. The "All other" category includes operating expenses such as stock-based compensation expense, amortization of intangible assets, restructuring-related charges, acquisition and integration-related costs, gain or loss on assets, costs associated with upgrading our core business systems and other miscellaneous corporate overhead expenses that the Company does not allocate to its operating segments because these expenses are not included in the segment operating performance measures evaluated by the Company’s CODM. Except as discussed above regarding the "All other" category, the Company’s accounting policies for segment reporting are the same as for the Company as a whole.

- Definition

Disclosure of accounting policy for segment reporting.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 41
-Subparagraph (a)
-Publisher FASB
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Reference 2: http://www.xbrl.org/2003/role/exampleRef
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Inventories (Details) - USD ($) $ in Thousands	Jun. 29, 2024	Mar. 30, 2024
Components of inventories
Raw materials	$ 209,573	$ 201,748
Work in process	354,461	347,175
Finished goods	162,524	161,632
Total inventories	$ 726,558	$ 710,555

Operating Segment Information (Details) $ in Thousands	3 Months Ended
Operating Segment Information (Details) $ in Thousands	Jun. 29, 2024 USD ($)	Jul. 01, 2023 USD ($)
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Document Period End Date	Jun. 29, 2024
Summary of details of reportable segments
Revenues	$ 886,671	$ 651,164
Income from operations:
Operating income (loss)	4,606	(48,136)
Interest expense	17,094	17,261
Other income (expense), net	11,765	13,716
Loss before income taxes	(723)	(51,681)
Stock-based compensation expense	(42,366)	(38,445)
Amortization of intangible assets	$ (34,871)	(30,979)
Number of Reportable Segments	3
Operating Segments \| HPA
Summary of details of reportable segments
Revenues	$ 129,468	139,692
Income from operations:
Operating income (loss)	4,881	23,964
Operating Segments \| CSG
Summary of details of reportable segments
Revenues	114,853	99,263
Income from operations:
Operating income (loss)	(19,501)	(20,161)
Operating Segments \| ACG
Summary of details of reportable segments
Revenues	642,350	412,209
Income from operations:
Operating income (loss)	116,449	44,998
All other
Income from operations:
Operating income (loss)	(97,223)	(96,937)
Stock-based compensation expense	(42,366)	(38,445)
Amortization of intangible assets	(30,474)	(30,872)
Restructuring Charges	(19,574)	(22,736)
Acquisition and integration-related costs	(2,582)	(1,195)
Other	$ (2,227)	$ (3,689)

Stock Repurchases	3 Months Ended
Stock Repurchases	Jun. 29, 2024
Equity [Abstract]
STOCK REPURCHASES	STOCK REPURCHASES On November 2, 2022, the Company announced that its Board of Directors authorized a share repurchase program to repurchase up to $2.0 billion of the Company's outstanding common stock, which included the remaining authorized dollar amount under a prior program terminated concurrent with the new authorization. Under this program, share repurchases are made in accordance with applicable securities laws on the open market or in privately negotiated transactions. The extent to which the Company repurchases its shares, the number of shares and the timing of any repurchases depends on general market conditions, regulatory requirements, alternative investment opportunities and other considerations. The program does not require the Company to repurchase a minimum number of shares, does not have a fixed term, and may be modified, suspended or terminated at any time without prior notice. As of January 1, 2023, the Company's share repurchases in excess of issuances are subject to a 1% excise tax enacted by the Inflation Reduction Act. The excise tax is recognized as part of the cost basis of shares acquired in the Condensed Consolidated Statements of Stockholders' Equity. During the three months ended June 29, 2024, the Company repurchased approximately 1.2 million shares of its common stock for approximately $125.7 million (including transaction costs and excise tax) and approximately $1,180.1 million remains authorized for repurchases under its share repurchase program as of June 29, 2024. During the three months ended July 1, 2023, the Company repurchased approximately 1.0 million shares of its common stock for approximately $100.6 million (including transaction costs and excise tax) under its share repurchase program.

- Definition

The entire disclosure for equity.

+ References

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

Net Income Per Share

3 Months Ended

Jun. 29, 2024

Earnings Per Share [Abstract]

NET INCOME PER SHARE

NET INCOME (LOSS) PER SHARE

The following table sets forth the computation of basic and diluted net income (loss) per share (in thousands, except per share data):


	Three Months Ended
	June 29, 2024		July 1, 2023
Numerator:
Numerator for basic and diluted net income (loss) per share — net income (loss) available to common stockholders	$	414	$	(43,580)
Denominator:
Denominator for basic net income (loss) per share — weighted-average shares	95,467		98,509
Effect of dilutive securities:
Stock-based awards	1,043		—
Denominator for diluted net income (loss) per share — adjusted weighted-average shares and assumed conversions	96,510		98,509
Basic net income (loss) per share	$	0.00	$	(0.44)
Diluted net income (loss) per share	$	0.00	$	(0.44)

An immaterial number of shares of outstanding stock-based awards were excluded from the computation of net income per share for the three months ended June 29, 2024, because the effect of their inclusion would have been anti-dilutive. In the computation of net loss per share for the three months ended July 1, 2023, approximately 1.1 million shares of outstanding stock-based awards were excluded because the effect of their inclusion would have been anti-dilutive.

Operating Segment Information (Tables)

3 Months Ended

Jun. 29, 2024

Segment Reporting [Abstract]

Summary of details of reportable segments

The following tables present details of the Company’s operating and reportable segments and a reconciliation of the "All other" category (in thousands):


	Three Months Ended
	June 29, 2024		July 1, 2023
Revenue:
HPA	$	129,468	$	139,692
CSG	114,853		99,263
ACG	642,350		412,209
Total revenue	$	886,671	$	651,164
Operating income (loss):
HPA	$	4,881	$	23,964
CSG	(19,501)		(20,161)
ACG	116,449		44,998
All other	(97,223)		(96,937)
Operating income (loss)	4,606		(48,136)
Interest expense	(17,094)		(17,261)
Other income, net	11,765		13,716
Loss before income taxes	$	(723)	$	(51,681)

Summary of reconciliation of "All other" category


	Three Months Ended
	June 29, 2024		July 1, 2023
Reconciliation of "All other" category:
Stock-based compensation expense	$	(42,366)	$	(38,445)
Amortization of intangible assets	(30,474)		(30,872)
Restructuring-related charges (1)	(19,574)		(22,736)
Acquisition and integration-related costs	(2,582)		(1,195)
Other	(2,227)		(3,689)
Loss from operations for "All other"	$	(97,223)	$	(96,937)

(1) Refer to Note 11 for additional information.

Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended
Income Taxes (Details) - USD ($) $ in Thousands	Jun. 29, 2024	Jul. 01, 2023
Income Tax Disclosure [Abstract]
Income tax benefit	$ 1,137	$ 8,101
Effective tax rate	157.20%	15.70%
Effective Income Tax Rate Reconciliation [Line Items]
Effective Income Tax Rate Reconciliation, Disposition of Business, Amount	$ 4,500

- Definition

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

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+ Details

Revenue (Tables)

3 Months Ended

Jun. 29, 2024

Revenue from Contract with Customer [Abstract]

Disaggregation of Revenue

Revenue to customers by geographic region (based on the location of the customers' headquarters) is summarized as follows (in thousands):


	Three Months Ended
	June 29, 2024		July 1, 2023
United States	$	447,456	$	315,283
China	196,434		150,806
Other Asia	132,036		91,334
Taiwan	92,554		65,856
Europe	18,191		27,885
Total revenue	$	886,671	$	651,164

Basis of Presentation and Significant Accounting Policies	3 Months Ended
	Jun. 29, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES	BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES The accompanying Condensed Consolidated Financial Statements of Qorvo, Inc. and Subsidiaries (together, the "Company" or "Qorvo") have been prepared in conformity with accounting principles generally accepted in the United States ("U.S. GAAP"). The preparation of these financial statements requires management to make estimates and assumptions, which could differ materially from actual results. In addition, certain information or footnote disclosures normally included in financial statements prepared in accordance with U.S. GAAP have been condensed, or omitted, pursuant to the rules and regulations of the SEC. In the opinion of management, the financial statements include all adjustments (which are of a normal and recurring nature) necessary for the fair presentation of the results of the interim periods presented. These Condensed Consolidated Financial Statements should be read in conjunction with the Company's audited consolidated financial statements and notes thereto included in Qorvo’s Annual Report on Form 10-K for the fiscal year ended March 30, 2024. The Condensed Consolidated Financial Statements include the accounts of the Company and its wholly-owned subsidiaries. All significant intercompany accounts and transactions have been eliminated in consolidation. The Company operates under three segments, High Performance Analog ("HPA"), Connectivity and Sensors Group ("CSG") and Advanced Cellular Group ("ACG"). Certain prior period amounts have been reclassified to conform to the fiscal 2025 presentation. The Company uses a 52- or 53-week fiscal year ending on the Saturday closest to March 31 of each year. Each fiscal year, the first quarter ends on the Saturday closest to June 30, the second quarter ends on the Saturday closest to September 30 and the third quarter ends on the Saturday closest to December 31. Fiscal years 2025 and 2024 are 52-week years.

Business Divestiture (Details) - USD ($) $ in Thousands	3 Months Ended
Business Divestiture (Details) - USD ($) $ in Thousands	Jun. 29, 2024	Mar. 30, 2024	May 02, 2024	Dec. 16, 2023
Discontinued Operations and Disposal Groups [Abstract]
Disposal Group, Not Discontinued Operation, Gain (Loss) on Disposal	$ 8,000	$ 35,300
Disposal Group, Including Discontinued Operation, Consideration			$ 232,000	$ 240,000
Disposal Group, Including Discontinued Operation, Goodwill		22,000
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Disposal Group, Including Discontinued Operation, Inventory			127,000
Disposal Group, Including Discontinued Operation, Goodwill		22,000
Disposal Group, Not Discontinued Operation, Gain (Loss) on Disposal	8,000	35,300
Disposal Group, Including Discontinued Operation, Assets	0	159,278
Disposal Group, Including Discontinued Operation, Consideration			232,000	$ 240,000
Disposal group, including discontinued operation, Net Assets			76,000
Disposal Group, Including Discontinued Operation, Cash			$ 29,000
Disposal Group, Not Discontinued Operation, Loss (Gain) on Write-down	$ 1,000
Disposal Group, Including Discontinued Operation, Other Assets, Current		$ 20,000

Revenue

3 Months Ended

Jun. 29, 2024

Revenue from Contract with Customer [Abstract]

REVENUE

Revenue to customers by geographic region (based on the location of the customers' headquarters) is summarized as follows (in thousands):


	Three Months Ended
	June 29, 2024		July 1, 2023
United States	$	447,456	$	315,283
China	196,434		150,806
Other Asia	132,036		91,334
Taiwan	92,554		65,856
Europe	18,191		27,885
Total revenue	$	886,671	$	651,164

The Company also disaggregates revenue by operating segments (refer to Note 12).

- 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.

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+ Details

Revenue (Details) - USD ($) $ in Thousands	3 Months Ended
Revenue (Details) - USD ($) $ in Thousands	Jun. 29, 2024	Jul. 01, 2023
Disaggregation of Revenue
Revenues	$ 886,671	$ 651,164
China
Disaggregation of Revenue
Revenues	196,434	150,806
Taiwan
Disaggregation of Revenue
Revenues	92,554	65,856
United States
Disaggregation of Revenue
Revenues	447,456	315,283
Europe
Disaggregation of Revenue
Revenues	18,191	27,885
Other Asia
Disaggregation of Revenue
Revenues	$ 132,036	$ 91,334

- Definition

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

+ References + Details

- Definition

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

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+ Details

Debt (Tables)

3 Months Ended

Jun. 29, 2024

Debt Disclosure [Abstract]

Schedule of Long-term Debt Instruments

The following table summarizes the outstanding debt (in thousands):


	June 29, 2024		March 30, 2024
1.750% senior notes due 2024	$	412,463	$	439,738
4.375% senior notes due 2029	850,000		850,000
3.375% senior notes due 2031	700,000		700,000
Unamortized premium, discount and issuance costs, net	(1,353)		(1,726)
Total debt	1,961,110		1,988,012
Less current portion of debt	(411,853)		(438,740)
Total long-term debt	$	1,549,257	$	1,549,272

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

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-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477734/942-470-50-3

Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 8
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-8

Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-6

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 7
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-7

+ Details

Condensed Consolidated Statements of Operations (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Jun. 29, 2024	Jul. 01, 2023
Income Statement [Abstract]
Revenues	$ 886,671	$ 651,164
Cost of goods sold	554,367	422,094
Gross profit	332,304	229,070
Operating Expenses [Abstract]
Research and Development Expense	187,602	163,090
Selling, general and administrative	114,923	105,423
Other operating expense	25,173	8,693
Total operating expenses	327,698	277,206
Operating Income (Loss), Total	4,606	(48,136)
Interest expense	(17,094)	(17,261)
Other income, net	11,765	13,716
Loss before income taxes	(723)	(51,681)
Income tax benefit	1,137	8,101
Net income (loss)	$ 414	$ (43,580)
Earnings Per Share [Abstract]
Basic	$ 0.00	$ (0.44)
Diluted	$ 0.00	$ (0.44)
Weighted Average Number of Shares Outstanding, Diluted [Abstract]
Basic	95,467	98,509
Diluted	96,510	98,509