Cirrus Logic (CRUS) 10-Q 27 Jul 16 2017 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Jun. 25, 2016	Jul. 22, 2016
Document and Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Entity Registrant Name	CIRRUS LOGIC INC
Entity Central Index Key	772,406
Entity Filer Category	Large Accelerated Filer
Entity Well-known Seasoned Issuer	Yes
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Document Period End Date	Jun. 25, 2016
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q1
Current Fiscal Year End Date	--03-25
Entity Common Stock, Shares Outstanding		62,480,659

Consolidated Condensed Balance

Consolidated Condensed Balance Sheets - USD ($) $ in Thousands	Jun. 25, 2016	Mar. 26, 2016
Assets
Cash and cash equivalents	$ 143,591	$ 168,793
Marketable securities	91,090	60,582
Accounts receivable, net	140,893	88,532
Inventories	154,043	142,015
Prepaid assets	27,815	29,924
Other current assets	16,291	16,283
Total current assets	573,723	506,129
Long-term marketable securities	3,923	20,631
Property and equipment, net	160,875	162,656
Intangibles, net	156,949	162,832
Goodwill	287,518	287,518
Deferred tax assets	27,334	25,772
Other assets	14,776	16,345
Total assets	1,225,098	1,181,883
Liabilities and Stockholders' Equity
Accounts payable	105,138	71,619
Accrued salaries and benefits	21,854	21,239
Software license agreement	14,621	20,308
Other accrued liabilities	16,447	14,958
Total current liabilities	158,060	128,124
Debt	160,439	160,439
Software license agreement long-term	5,436	8,136
Other long-term liabilities	29,419	25,701
Total long-term liabilities	195,294	194,276
Stockholders' Equity:
Capital stock	1,215,749	1,203,496
Accumulated deficit	(344,564)	(344,345)
Accumulated other comprehensive income	559	332
Total stockholders' equity	871,744	859,483
Total liabilities and stockholders' equity	$ 1,225,098	$ 1,181,883

Consolidated Condensed Statemen

Consolidated Condensed Statements of Income - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Jun. 25, 2016	Jun. 27, 2015
Consolidated Condensed Statements of Income [Abstract]
Net sales	$ 259,428	$ 282,633
Cost of sales	132,743	150,179
Gross profit	126,685	132,454
Operating expenses:
Research and development	73,934	65,835
Selling, general and administrative	30,540	29,119
Patent agreement and other		(12,500)
Total operating expenses	104,474	82,454
Income from operations	22,211	50,000
Interest income	267	254
Interest expense	(956)	(999)
Other income	147	243
Income before income taxes	21,669	49,498
Provision for income taxes	5,805	16,144
Net income	$ 15,864	$ 33,354
Basic earnings per share	$ 0.25	$ 0.53
Diluted earnings per share	$ 0.24	$ 0.50
Basic weighted average common shares outstanding	62,450	63,274
Diluted weighted average common shares outstanding	65,232	66,410

Consolidated Condensed Stateme4

Consolidated Condensed Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended
	Jun. 25, 2016	Jun. 27, 2015
Consolidated Condensed Statements of Comprehensive Income [Abstract]
Net income	$ 15,864	$ 33,354
Other comprehensive income (loss), before tax
Foreign currency translation	188	(783)
Unrealized gain (loss) on marketable securities	67	(148)
Reclassification of actuarial (gain) loss to net income	(27)	16
Benefit (provision) for income taxes	(1)	52
Comprehensive income	$ 16,091	$ 32,491

Consolidated Condensed Stateme5

Consolidated Condensed Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Jun. 25, 2016	Jun. 27, 2015
Cash flows from operating activities:
Net income	$ 15,864	$ 33,354
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	17,912	13,388
Stock compensation expense	9,310	8,272
Deferred income taxes	797	12,769
Loss on retirement or write-off of long-lived assets	95	156
Actuarial (gain) loss amortization on defined benefit pension plan	(3)	16
Excess tax benefit from employee stock awards	(530)
Other non-cash charges	107	3,884
Net change in operating assets and liabilities:
Accounts receivable, net	(52,361)	(8,230)
Inventories	(12,028)	(41,999)
Other current assets	1,380	2,792
Accounts payable and other accrued liabilities	29,283	20,149
Deferred income		(1,369)
Income taxes payable	2,400
Net cash provided by operating activities	12,226	43,182
Cash flows from investing activities:
Maturities and sales of available for sale marketable securities	30,987	36,017
Purchases of available for sale marketable securities	(44,743)	(22,649)
Purchases of property, equipment and software	(7,145)	(10,601)
Investments in technology	(3,387)	(1,816)
Increase in deposits and other assets		(232)
Net cash (used in) provided by investing activities	(24,288)	719
Cash flows from financing activities:
Principal payments on long-term revolver		(20,000)
Issuance of common stock, net of shares withheld for taxes	2,414	2,661
Repurchase of stock to satisfy employee tax withholding obligations	(644)	(432)
Repurchase and retirement of common stock	(15,440)
Excess tax benefit from employee stock awards	530
Net cash used in financing activities	(13,140)	(17,771)
Net increase (decrease) in cash and cash equivalents	(25,202)	26,130
Cash and cash equivalents at beginning of period	168,793	168,793
Cash and cash equivalents at end of period	$ 143,591	$ 102,531

Basis of Presentation

Basis of Presentation	3 Months Ended
	Jun. 25, 2016
Basis of Presentation [Abstract]
Basis of Presentation	1. Basis of Presentation  The consolidated condensed financial statements have been prepared by Cirrus Logic, Inc. (“Cirrus Logic,” “we,” “us,” “our,” or the “Company”) pursuant to the rules and regulations of the Securities and Exchange Commission (the “Commission”). The accompanying unaudited consolidated condensed financial statements do not include complete footnotes and financial presentations. As a result, these financial statements should be read along with the audited consolidated financial statements and notes thereto for the year ended March 26 , 201 6 , included in our Annual Report on Form 10-K filed with the Commission on May 2 5 , 201 6 . In our opinion, the financial statements reflect all material adjustments, including normal recurring adjustments, necessary for a fair presentation of the financial position, operating results and cash flows for those periods presented. The preparation of financial statements in conformity with United States (“U.S.”) generally accepted accounting principles (“GAAP”) requires management to make estimates and assumptions that affect reported assets, liabilities, revenues and expenses, as well as disclosure of contingent assets and liabilities. Actual results could differ from those estimates and assumptions. Moreover, the results of operations for the interim periods presented are not necessarily indicative of the results that may be expected for the entire year. Additionally, prior period amounts have been adjusted to conform to current year presentation.

Recently Issued Accounting Pron

Recently Issued Accounting Pronouncements	3 Months Ended
	Jun. 25, 2016
Recently Issued Accounting Pronouncements [Abstract]
Recently Issued Accounting Pronouncements	2. Recently Issued Accounting Pronouncements  In May 2014, the Financial Accounting Standards Board ( FASB ) issued Accounting Standards Update (“ ASU ”) No. 2014-09, Revenue from Contracts with Customers (ASC Topic 606) . The purpose of this ASU is to converge revenue recognition requirements per GAAP and International Financial Reporting Standards (IFRS). The core principle of the guidance is that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. I n August 2015, the FASB issued ASU 2015-14, Revenue from Contracts with Customers (Topic 606): Deferral of the Effective Date after public comment respondents supported a proposal to delay the effective date of this ASU to annual reporting periods beginning after December 15, 2017 , including interim reporting periods within that reporting period . The Company is currently evaluating the impact of this ASU on its financial statements and expects no material modifications .  In August 2014, the FASB issued ASU No. 2014-15, Presentation of Financial Statements—Going Concern (Subtopic 205-40): Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern . The amendments in this ASU provide guidance in GAAP about management’s responsibility to evaluate whether there is substantial doubt about an entity’s ability to continue as a going concern and to provide related footnote disclosures. The amendments are effective for the annual period ending after December 15, 2016, and for annual periods and interim periods thereafter. Early application is permitted. The Company is currently evaluating this ASU and expects no material modifications to its financial statements.  In April 2015, the FASB issued ASU No. 2015-03, Interest—Imputation of Interest (Subtopic 835-30): Simplifying the Presentation of Debt Issuance Costs . The amendments in this update require that debt issuance costs related to a recognized debt liability are presented in the balance sheet as a direct deduction from the carrying amount of that debt liability and that the amortization of debt issuance costs is reported as interest expense. ASU 2015-03 is to be applied retrospectively and represents a change in accounting principle. In August 2015, the FASB issued FASB ASU No. 2015-15, Interest—Imputation of Interest (Subtopic 835-30): Presentation and Subsequent Measurement of Debt Issuance Costs Associated with Line-of-Credit Arrangements . ASU 2015-15 clarified the presentation and subsequent measurement of debt issuance costs related to line-of-credit arrangements. Debt issuance costs related to a line-of-credit arrangement may be presented in the balance sheet as an asset and subsequently amortized ratably over the term of the arrangement regardless of whether there are any outstanding borrowings. Both ASU 2015-03 and ASU 2015-15 are effective for fiscal years beginning after December 15, 2015, including interim periods within those fiscal years. Earlier adoption is permitted for financial statements that have not been previously issued. The Company adopt ed these ASU s in the current fiscal quarter .  In April 2015, the FASB issued ASU No. 2015-04, Compensation – Retirement Benefits (Topic 715): Practical Expedient for the Measurement Date of an Employer’s Defined Benefit Obligation and Plan Assets. The ASU is part of the FASB’s “Simplification Initiative” to reduce complexity in accounting standards. The FASB decided to permit entities to measure defined benefit plan assets and obligations as of the month-end that is closest to their fiscal year-end. An entity is required to disclose the accounting policy election and the date used to measure defined benefit plan assets and obligations in accordance with the amendments in this u pdate. The amendments in this u pdate are effective for public business entities for financial statements issued for fiscal years beginning after December 15, 2015, and interim periods within those fiscal years, with earlier application permitted. The Company adopted this ASU in the current fiscal quarter, with no modifications to its financial statements. The Company’s plan assets and obligations are measured as of the fiscal year-end.  In July 2015, ASU No. 2015-11, Inventory (Topic 330): Simplifying the Measurement of Inventory was issued. This ASU requires companies to subsequently measure inventory at the lower of cost and net realizable value versus the previous lower of cost or market. The amendments in this update are effective for fiscal years beginning after December 15, 2016, including interim periods within those fiscal years, to be applied prospectively. Early application is permitted. The Company is currently evaluating this ASU and expects no material modifications to its financial statements as a result.  In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842). The FASB issued this update to increase transparency and comparability by recognizing lease assets and lease liabilities on the balance sheet and disclosing key leasing arrangement details . Lessees would recognize operating leases on the balance sheet under this ASU — with the future lease payments recognized as a liability, measured at present value, and the right-of-use asset recognized for the lease term. A single lease cost would be recognized over the lease term. For terms less than twelve months, a lessee would be permitted to make an accounting policy election to recognize lease expense for such leases generally on a straight-line basis over the lease term. This ASU is effective for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. Early adoption is permitted. The Company is currently evaluating the impact of this ASU.  In March 2016, the FASB issued ASU 2016-09, Compensation – Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting . This ASU requires all excess tax benefits and deficiencies to be recognized as income tax expense / benefit in the income statement and presented as an operating activity in the statement of cash flows. Forfeitures can be calculated based on either the estimated number of awards that are expected to vest, as required by current guidance, or when forfeitures actually occur. This ASU is effective for annual periods beginning after December 15, 2016, and interim periods within those annual periods. Early adoption is permitted, but all of the described amendments must be adopted in the same period and any adjustments should be reflected as of the beginning of the fiscal year if adopted in an interim period. The Company is currently evaluating the impact of this ASU. 

Marketable Securities

Marketable Securities	3 Months Ended
	Jun. 25, 2016
Marketable Securities [Abstract]
Marketable Securities	3. Marketable Securities  The Company’s investments that have original maturities greater than 90 days have been classified as available-for-sale securities in accordance with U.S. GAAP. Marketable securities are categorized on the consolidated condensed balance sheet as short- and long-term marketable securities, as appropriate.  The following table is a summary of available-for-sale securities at June 25 , 201 6 (in thousands):       Estimated  Gross Gross Fair Value  Amortized Unrealized Unrealized (Net Carrying  As of June 25, 2016 Cost Gains Losses Amount)  Corporate debt securities $ 58,235 $ 10 $ (20) $ 58,225  Commercial paper 36,808 - (20) 36,788  Total securities $ 95,043 $ 10 $ (40) $ 95,013  The Company’s specifically identified gross unrealized losses of $ 40 thousand relate to 13 different securities with total amortized cost of approximately $ 63.0 million at June 25, 2016. Six securities had been in a continuous unrealized loss position for more than 12 months as of June 25, 2016. The gross unrealized loss on these securities was less than one-tenth of one percent of the position value. Because the Company does not intend to sell the investments at a loss and it is not more likely than not that the Company will be required to sell the investments before recovery of its amortized cost basis, it did not consider the investment in these securities to be other-than-temporarily impaired at June 25, 2016.  The following table is a summary of available-for-sale securities at March 26, 2016 (in thousands):      Estimated  Gross Gross Fair Value  Amortized Unrealized Unrealized (Net Carrying  As of March 26, 2016 Cost Gains Losses Amount)  Corporate debt securities $ 81,310 $ 3 $ (100) $ 81,213  The Company’s specifically identified gross unrealized losses of $ 100 thousand relate to 21 different securities with total amortized cost of approximately $ 64.7 million at March 2 6 , 201 6 . Two securities had been in a continuous loss position for more than 12 months as of March 26, 2016. One of these securities matured in the current fiscal quarter, with the other maturing in the second quarter of fiscal year 2017. Because the Company did not intend to sell the investments at a loss and it was not more likely than not that the Company would be required to sell the investments before recovery of its amortized cost basis, it did not consider the investment in these securities to be other-than-temporarily impaired at March 26, 2016.  The cost and estimated fair value of available-for-sale securities by contractual maturities were as follows (in thousands):     June 25, 2016 March 26, 2016  Amortized Estimated Amortized Estimated  Cost Fair Value Cost Fair Value  Within 1 year $ 91,109 $ 91,090 $ 60,603 $ 60,582  After 1 year 3,934 3,923 20,707 20,631  Total $ 95,043 $ 95,013 $ 81,310 $ 81,213 

Fair Value of Financial Instrum

Fair Value of Financial Instruments	3 Months Ended
	Jun. 25, 2016
Fair Value of Financial Instruments [Abstract]
Fair Value of Financial Instruments	4. Fair Value of Financial Instruments  The Company has determined that the only assets and liabilities in the Company’s financial statements that are required to be measured at fair value on a recurring basis are the Company’s cash equivalents, investment portfolio, pension plan assets / liabilities and contingent consideration . The Company defines fair value as 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. The Company applies the following fair value hierarchy, which prioritizes the inputs used to measure fair value into three levels and bases the categorization within the hierarchy upon the lowest level of input that is available and significant to the fair value measurement. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements).    • Level 1 - Quoted prices in active markets for identical assets or liabilities. • Level 2 - Inputs other than Level 1 that are observable, either directly or indirectly, such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities. • Level 3 - Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities.   The Company’s cash equivalents and investment portfolio assets consist of corporate debt securities, money market funds, U.S. Treasury securities, and commercial paper and are reflected on our consolidated condensed balance sheets under the headings cash and cash equivalents, marketable securities, and long-term marketable securities. The Company determines the fair value of its investment portfolio assets by obtaining non-binding market prices from its third-party portfolio managers on the last day of the quarter, whose sources may use quoted prices in active markets for identical assets (Level 1 inputs) or inputs other than quoted prices that are observable either directly or indirectly (Level 2 inputs) in determining fair value.  In connection with one of the Company’s second quarter fiscal year 2016 acquisitions, the Company reported contingent consideration based upon achievement of certain milestones. This liability is classified as Level 3 and valued using a discounted cash flow model. The assumptions used in preparing the discounted cash flow include discount rate estimates and cash flow amounts. See additional details below.  The Company’s long-term revolving facility, described in Note 7 , bears interest at a base rate plus applicable margin or LIBOR plus applicable margin. As of June 25 , 201 6 , the fair value of the Company’s long-term revolving facility approximates carrying value.  As of June 25 , 201 6 and March 2 6 , 201 6 , the Company classified all of its investment portfolio and pension plan assets and liabilities as Level 1 or Level 2 assets and liabilities . The only Level 3 liabilit y is the contingent consideration described above and below . The Company has no Level 3 assets. There were no transfers between Level 1, Level 2, or Level 3 measurements for the three month s ending June 25 , 201 6 .  The following summarizes the fair value of our financial instruments, exclusive of pension plan assets and liabilities , at June 25 , 201 6 , (in thousands):     Quoted Prices  in Active Significant  Markets for Other Significant  Identical Observable Unobservable  Assets Inputs Inputs  Level 1 Level 2 Level 3 Total  Assets:  Cash equivalents  Money market funds $ 76,881 $ - $ - $ 76,881  Corporate debt securities - 5,010 - 5,010  $ 76,881 $ 5,010 $ - $ 81,891   Available-for-sale securities  Corporate debt securities $ - $ 58,225 $ - $ 58,225  Commercial paper - 36,788 - 36,788  $ - $ 95,013 $ - $ 95,013   Liabilities:  Other accrued liabilities  Contingent consideration $ - $ - $ 4,793 $ 4,793  Other long-term liabilities  Contingent consideration $ - $ - $ 4,441 $ 4,441   The following summarized the fair value of our financial instruments at March 26 , 2016, exclusive of pension plan assets and liabilities (in thousands):    Quoted Prices  in Active Significant  Markets for Other Significant  Identical Observable Unobservable  Assets Inputs Inputs  Level 1 Level 2 Level 3 Total  Cash equivalents  Money market funds $ 79,256 $ - $ - $ 79,256   Available-for-sale securities  Corporate debt securities $ - $ 81,213 $ - $ 81,213   Liabilities:  Other accrued liabilities  Contingent consideration $ - $ - $ 4,709 $ 4,709  Other long-term liabilities  Contingent consideration $ - $ - $ 4,359 $ 4,359  Contingent consideration The following summarizes the fair value of the contingent consideration at June 25, 2016:     Maximum Value if Milestones Achieved (in thousands) Estimated Discount Rate (%) Fair Value (in thousands)  Tranche A - 18 month earn out period $ 5,000 7.3 $ 4,793  Tranche B - 30 month earn out period 5,000 7.7 4,441  $ 10,000 $ 9,234    Three Months Ended  June 25,  2016  Beginning balance $ 9,068  Loss recognized in earnings (research and development expense) 166  Ending balance $ 9,234   The valuation of contingent consideration was initially based on a weighted-average discounted cash flows model. The fair value is reviewed and estimated on a quarterly basis based on the probability of achieving defined milestones and current interest rates. Significant changes in any of the unobservable inputs used in the fair value measurement of contingent consideration could result in a significantly lower or higher fair value. A change in projected outcomes if milestones are achieved would be accompanied by a directionally similar change in fair value. A change in discount rate would be accompanied by a directionally opposite change in fair value. Changes to the fair value due to changes in assumptions would be reported in research and development expense in the consolidated condensed statements of income. No such changes to the observable inputs were noted in the current fiscal quarter.

Accounts Receivable, net

Accounts Receivable, net	3 Months Ended
	Jun. 25, 2016
Accounts Receivable, net [Abstract]
Accounts Receivable, net	5 . Accounts Receivable, net  The following are the components of accounts receivable, net (in thousands):    June 25, March 26,  2016 2016  Gross accounts receivable $ 141,457 $ 89,007  Allowance for doubtful accounts (564) (475)  Accounts receivable, net $ 140,893 $ 88,532 

Inventories

Inventories	3 Months Ended
	Jun. 25, 2016
Inventories [Abstract]
Inventories	 6 . Inventories  Inventories are comprised of the following (in thousands):     June 25, March 26,  2016 2016  Work in process $ 84,064 $ 67,827  Finished goods 69,979 74,188  $ 154,043 $ 142,015    

Revolving Credit Facilities

Revolving Credit Facilities	3 Months Ended
	Jun. 25, 2016
Line of Credit [Abstract]
Revolving Credit Facilities	7 . Revolving Credit Facilities On August 29, 2014, Cirrus Logic entered into a credit agreement (the “Credit Agreement”) with Wells Fargo Bank, National Association, as Administrative Agent, and the Lenders party thereto . The Credit Agreement provides for a $250 million senior secured revolving credit facility (the “Credit Facility”). The Credit Facility replaced Cirrus Logic’s interim credit facility , and may be used for general corporate purposes. The Credit Facility mature s on August 29, 201 7.  The Credit Facility is required to be guaranteed by all of Cirrus Logic’s material domestic subsidiaries (the “Subsidiary Guarantors”). The Credit Facility is secured by substantially all of the assets of Cirrus Logic and any Subsidiary Guarantors, except for certain excluded assets. Borrowings under the Credit Facility may, at Cirrus Logic’s election, bear interest at either (a) a Base Rate plus the Applicable Margin (“Base Rate Loans”) or (b) a LIBOR Rate plus the Applicable Margin (“LIBOR Rate Loans”). The Applicable Margin ranges from 0% to 0 .25% per annum for Base Rate Loans and 1.50% to 2.00% per annum for LIBOR Rate Loans based on Cirrus Logic’s Leverage Ratio (discussed below). A Commitment Fee accrues at a rate per annum ranging from 0.25% to 0.35% (based on the Leverage Ratio) on the average daily unused portion of the Commitment of the Lenders.  The Credit Agreement contains customary affirmative covenants, including, among others, covenants regarding the payment of taxes and other obligations, maintenance of insurance, reporting requirements and compliance with applicable laws and regulations. Further, the Credit Agreement contains customary negative covenants limiting the ability of Cirrus Logic or any s ubsidiary to, among other things, incur debt, grant liens, make investments, effect certain fundamental changes, make certain asset dispositions, and make certain restricted payments. The Credit Facility also contains certain financial covenants providing that (a) the ratio of consolidated funded indebtedness to consolidated EBITDA for the prior four consecutive quarters must not be greater than 2.00 to 1.00 (the “Leverage Ratio”) and (b) the sum of cash and Cash Equivalents of Cirrus Logic and its s ubsidiaries on a consolidated basis must not be less than $100 million.  On June 23, 2015, Cirrus Logic and Wells Fargo Bank, National Association, as Administrative Agent, entered into a first amendment of the Credit Agreement (the “First Amendment”). The First Amendment primarily provides additional flexibility to the Company for certain intercompany transactions. In particular, the First Amendment (i) amended the definition of “Permitted Acquisition” to increase the threshold whereby the Company must provide certain financial statements and certifications to the Administrative Agent; (ii) expanded the Company’s ability to make intercompany investments, including unsecured intercompany indebtedness to fund a Permitted Acquisition; and (iii) provided the Company with the ability, under certain circumstances, to transfer capital stock in a non-guarantor subsidiary to another wholly-owned subsidiary that is not a credit party.  At June 25 , 201 6 , the Company was in compliance with all covenants under the Credit Agreement. The Company had borrowed $ 160. 4 million under this facility as of June 25 , 201 6 , which is included in long-term liabilities on the consolidated condensed balance sheets under the caption “ Debt . ” The borrowings were primarily used for refinancing an interim credit facility.  On July 12, 2016, the Company entered into an amendment to the Credit Agreement for the purpose of increasing the Credit Facility to $300 million and providing ongoing working capital. See Subsequent Event Note 15 for further details. 

Patent Agreement and Other

Patent Agreement and Other	3 Months Ended
	Jun. 25, 2016
Consolidated Condensed Statements of Income [Abstract]
Patent Agreement Net Text Block	 8 . Patent Agreement and Other On May 8, 2015, we entered into a patent purchase agreement for the sale of certain Company-owned patents relating to our LED lighting products. As a result of this agreement, on June 22, 2015, the Company received cash consideration of $12.5 million from the purchaser. Under the agreement, the Company undertook to no longer be engaged in LED lighting and received a license under the sold patents for all other fields of use. The proceeds were recorded during the first quarter of fiscal year 2016 as a recovery of costs previously incurred and are reflected as a separate line item on the c onsolidated c ondensed s tatements of i ncome in operating expenses under the caption “ Patent agreement and other .” 

Income Taxes

Income Taxes	3 Months Ended
	Jun. 25, 2016
Income Taxes [Abstract]
Income Taxes	9 . Income Taxes  Our provision for income taxes is based on estimated effective tax rates derived from an estimate of annual consolidated earnings before taxes, adjusted for nondeductible expenses, other permanent items and any applicable credits.  The following table presents the provision for income taxes (in thousands) and the effective tax rates:     Three Months Ended  June 25, June 27,  2016 2015  Income before income taxes $ 21,669 $ 49,498  Provision for income taxes $ 5,805 $ 16,144  Effective tax rate 26.8% 32.6%  Our income tax expense for the first quarter of fiscal year 2017 was lower than the federal statutory rate primarily due to income in certain foreign jurisdictions taxed below the federal statutory rate and the U.S. R&D tax credit, partially offset by an increase in unrecognized tax benefits. Our income tax expense for the first quarter of fiscal year 2016 was below the federal statutory rate primarily due to income in certain foreign jurisdictions taxed below the federal statutory rate.  The Company record s unrecognized tax benefits for the estimated risk associated with tax positions taken on tax returns. At June 2 5 , 2016 , the Company had unrecognized tax benefits of $20.1 million, all of which would impact the effective tax rate if recognized. The Company’s total unrecognized tax benefits are classified as either “ Other long-term liabilities” in the consolidated condensed balance sheets or as a reduction to deferred tax assets to the extent that the unrecognized tax benefit relates to deferred tax assets .  The Company recognize s interest and penalties related to unrecognized tax benefits in the provision for income taxes . The Company recognized an immaterial amount of interest in the provision for income taxes during the first three months of fiscal year 2017. As of June 25, 2016 , the balance of accrued interest and penalties, net of tax was immaterial . No interest or penalties were recognized during the first three months of fiscal year 201 6 .  The Company believes it is reasonably possible that the gross unrecognized tax benefits could decrease by approximately $2.3 million in the next 12 months due to the lapse of the statute of limitations applicable to a tax deduction claimed on a prior year tax return.  The Company and its subsidiaries are subject to U.S. federal income tax as well as income tax in multiple state and foreign jurisdictions. Fiscal years 2013 through 201 6 remain open to examination by the major taxing jurisdictions to which the Company is subject , although carry forward attributes that were generated in tax years prior to fiscal year 2013 may be adjusted upon examination by the tax authorities if they have been, or will be, used in a future period. The Company is not currently under an income tax audit in any major taxing jurisdiction.

Pension Plan

Pension Plan	3 Months Ended
	Jun. 25, 2016
Pension and Other Postretirement and Postemployment Benefit Plans, Liabilities [Abstract]
Pension Plan	1 0 . Pension Plan  The components of the Company’s net periodic pension expense for the three months ended June 25 , 201 6 and June 27 , 201 5 are as follows (in thousands):    Fiscal Years Ended  June 25, June 27,  2016 2015  Expenses $ - $ -  Interest cost - -  Expected return on plan assets - -  Amortization of actuarial loss (gain) (27) 16  $ (27) $ 16 Based on an actuarial study performed as of March 2 6 , 201 6 , the defined benefit pension plan is currently appropriately funded and a long-term asset is reflected in the Company’s consolidated condensed balance sheet under the caption “ Other assets. ”

Net Income Per Share

Net Income Per Share	3 Months Ended
	Jun. 25, 2016
Net Income Per Share [Abstract]
Net Income Per Share	1 1 . Net Income Per Share  Basic net income per share is based on the weighted effect of common shares issued and outstanding and is calculated by dividing net income by the basic weighted average shares outstanding during the period. Diluted net income per share is calculated by dividing net income by the weighted average number of common shares used in the basic net income per share calculation, plus the equivalent number of common shares that would be issued assuming exercise or conversion of all potentially dilutive common shares outstanding. These potentially dilutive items consist primarily of the tax affected outstanding stock options and awards (including restricted stock units and market stock units).  The following table details the calculation of basic and diluted earnings per share for the three months ended June 25 , 201 6 and June 27 , 201 5 (in thousands, except per share amounts):      Three Months Ended  June 25, June 27,  2016 2015  Numerator:  Net income $ 15,864 $ 33,354  Denominator:  Weighted average shares outstanding 62,450 63,274  Effect of dilutive securities 2,782 3,136  Weighted average diluted shares 65,232 66,410  Basic earnings per share $ 0.25 $ 0.53  Diluted earnings per share $ 0.24 $ 0.50  The weighted outstanding shares excluded from our diluted calculation for the three months ended June 25 , 201 6 and June 27, 2015 were 618 thousand and 275 thousand , res pectively, as the shares were anti-dilutive.

Legal Matters

Legal Matters	3 Months Ended
	Jun. 25, 2016
Legal Matters [Abstract]
Legal Matters	1 2 . Legal Matters From time to time, we are involved in legal proceedings concerning matters arising in connection with the conduct of our business activities. We regularly evaluate the status of legal proceedings in which we are involved in order to assess whether a loss is probable or there is a reasonable possibility that a loss or additional loss may have been incurred and determine if accruals are appropriate. We further evaluate each legal proceeding to assess whether an estimate of possible loss or range of loss can be made.  Based on current knowledge, management does not believe that there are any pending matters that could potentially have a material adverse effect on our business, financial condition, results of operations or cash flows. However, we are engaged in various legal actions in the normal course of business. While there can be no assurances in light of the inherent uncertainties involved in any potential legal proceedings, some of which are beyond our control, an adverse outcome in any legal proceeding could be material to our results of operations or cash flows for any particular reporting period. 

Stockholders' Equtiy

Stockholders' Equtiy	3 Months Ended
	Jun. 25, 2016
Stockholder's Equity [Abstract]
Stockholders Equity Note Disclosure Text Block	1 3 . Stockholders’ Equity  Common Stock The Company issued a net 0.3 million and 0 .4 million shares of common stock during the three month periods ending June 25 , 201 6 and June 27, 2015 , respectively , in connection with stock issuances primarily pursuant to the Company’s 2006 Stock Incentive Plan.  Share Repurchase Program Since inception, $24.2 million of the Company’s common stock has been repurchased under the Company’s 201 5 $200 million share repurchase program, leaving $175.8 million available for repurchase under this plan as of June 2 5 , 201 6 . During the three months ended June 2 5 , 201 6 , the Company repurchased 0.5 million shares of its common stock for $15.4 million, at an average cost of $32.13 . All of these shares were repurchased in the open market and were funded from existing cash. All shares of our common stock that were repurchased were retired as of June 25, 2016. 

Segment Information

Segment Information	3 Months Ended
	Jun. 25, 2016
Segment Information [Abstract]
Segment Information	14. Segment Information  We determine our operating segments in accordance with FASB guidelines. Our Chief Executive Officer (“CEO”) has been identified as the chief operating decision maker under these guidelines.  The Company operates and tracks its results in one reportable segment, but reports revenue performance in two product lines, which, currently are Portable Audio and Non-Portable Audio and other. Our CEO receives and uses enterprise-wide financial information to assess financial performance and allocate resources, rather than detailed information at a product line level. Additionally, our product lines have similar characteristics and customers. They share operations support functions such as sales, public relations, supply chain management, various research and development and engineering support, in addition to the general and administrative functions of human resources, legal, finance and information technology. Therefore, no complete, discrete financial information is maintained for these product lines.  Revenues from our product lines are as follows (in thousands):    Three Months Ended  June 25, June 27,  2016 2015  Portable Audio Products $ 216,068 $ 235,866  Non-Portable Audio and Other Products 43,360 46,767  $ 259,428 $ 282,633 

Subsequent Event

Subsequent Event	3 Months Ended
	Jun. 25, 2016
Subsequent Event [Abstract]
Subsequent Events [Text Block]	15. Subsequent Event  On July 12, 2016, Cirrus Logic entered into an amended and restated credit agreement (the “Amended Credit Agreement”) with Wells Fargo Bank, National Association, as a Lender and Administrative Agent, for the purpose of refinancing the previous Credit Facility and providing ongoing working capital. The Amended Credit Agreement provides for a $300 million revolving credit facility (the “Amended Facility”) with a $25 million letter of credit sublimit. The Amended Facility matures in five years . Cirrus Logic must repay the outstanding principal amount of all borrowings, together with all accrued but unpaid interest thereon, on the maturity date. The Amended Facility is required to be guaranteed by all of Cirrus Logic’s material domestic subsidiaries (the “Subsidiary Guarantors”). The Credit Facility is secured by substantially all of the assets of Cirrus Logic and any Subsidiary Guarantors, except for certain excluded assets. Borrowings under the Amended Facility may, at our election, bear interest at either (a) a base rate plus the applicable margin (“Base Rate Loans”) or (b) a LIBOR rate plus the applicable margin (“LIBOR Rate Loans”). The applicable margin ranges from 0% to 0.50% per annum for Base Rate Loans and 1.25% to 2.00% per annum for LIBOR Rate Loans based on the Leverage Ratio (as defined below). A Commitment Fee accrues at a rate per annum ranging from 0.20% to 0.30% (based on the Leverage Ratio) on the average daily unused portion of the Commitment of the lenders. The Amended Credit Agreement also contains certain financial covenants providing that (a) the ratio of consolidated funded indebtedness to consolidated EBITDA for the prior four fiscal quarters must not be greater than 3.00 to 1.00 (the “Leverage Ratio”) and (b) the ratio of consolidated EBITDA for the prior four consecutive fiscal quarters to consolidated fixed charges (including amounts paid in cash for consolidated interest expenses, capital expenditures, scheduled principal payments of indebtedness, and income taxes) for the prior four consecutive fiscal quarters must not be less than 1.25 to 1.00 as of the end of each fiscal quarter.

Marketable Securities (Tables)

Marketable Securities (Tables)	3 Months Ended
	Jun. 25, 2016
Marketable Securities [Abstract]
Schedule of Available-for-sale Securities	 Estimated  Gross Gross Fair Value  Amortized Unrealized Unrealized (Net Carrying  As of June 25, 2016 Cost Gains Losses Amount)  Corporate debt securities $ 58,235 $ 10 $ (20) $ 58,225  Commercial paper 36,808 - (20) 36,788  Total securities $ 95,043 $ 10 $ (40) $ 95,013  The Company’s specifically identified gross unrealized losses of $ 40 thousand relate to 13 different securities with total amortized cost of approximately $ 63.0 million at June 25, 2016. Six securities had been in a continuous unrealized loss position for more than 12 months as of June 25, 2016. The gross unrealized loss on these securities was less than one-tenth of one percent of the position value. Because the Company does not intend to sell the investments at a loss and it is not more likely than not that the Company will be required to sell the investments before recovery of its amortized cost basis, it did not consider the investment in these securities to be other-than-temporarily impaired at June 25, 2016.  The following table is a summary of available-for-sale securities at March 26, 2016 (in thousands):      Estimated  Gross Gross Fair Value  Amortized Unrealized Unrealized (Net Carrying  As of March 26, 2016 Cost Gains Losses Amount)  Corporate debt securities $ 81,310 $ 3 $ (100) $ 81,213 
Schedule of Cost and Estimated Fair Value of Available-for-sale Securities by Contractual Maturity	   June 25, 2016 March 26, 2016  Amortized Estimated Amortized Estimated  Cost Fair Value Cost Fair Value  Within 1 year $ 91,109 $ 91,090 $ 60,603 $ 60,582  After 1 year 3,934 3,923 20,707 20,631  Total $ 95,043 $ 95,013 $ 81,310 $ 81,213 

Fair Value of Financial Instr22

Fair Value of Financial Instruments (Tables)	3 Months Ended
	Jun. 25, 2016
Fair Value of Financial Instruments [Abstract]
Schedule of Fair Value of Financial Assets and Liabilities	     Quoted Prices  in Active Significant  Markets for Other Significant  Identical Observable Unobservable  Assets Inputs Inputs  Level 1 Level 2 Level 3 Total  Assets:  Cash equivalents  Money market funds $ 76,881 $ - $ - $ 76,881  Corporate debt securities - 5,010 - 5,010  $ 76,881 $ 5,010 $ - $ 81,891   Available-for-sale securities  Corporate debt securities $ - $ 58,225 $ - $ 58,225  Commercial paper - 36,788 - 36,788  $ - $ 95,013 $ - $ 95,013   Liabilities:  Other accrued liabilities  Contingent consideration $ - $ - $ 4,793 $ 4,793  Other long-term liabilities  Contingent consideration $ - $ - $ 4,441 $ 4,441   The following summarized the fair value of our financial instruments at March 26 , 2016, exclusive of pension plan assets and liabilities (in thousands):    Quoted Prices  in Active Significant  Markets for Other Significant  Identical Observable Unobservable  Assets Inputs Inputs  Level 1 Level 2 Level 3 Total  Cash equivalents  Money market funds $ 79,256 $ - $ - $ 79,256   Available-for-sale securities  Corporate debt securities $ - $ 81,213 $ - $ 81,213   Liabilities:  Other accrued liabilities  Contingent consideration $ - $ - $ 4,709 $ 4,709  Other long-term liabilities  Contingent consideration $ - $ - $ 4,359 $ 4,359 

Fair Value of Financial Instr23

Fair Value of Financial Instruments Contingent Consideration (Tables)	3 Months Ended
	Jun. 25, 2016
Fair Value Inputs, Quantitative Information [Abstract]
Schedule of Fair Value of Financial Instruments - Contingent Consideration	   Maximum Value if Milestones Achieved (in thousands) Estimated Discount Rate (%) Fair Value (in thousands)  Tranche A - 18 month earn out period $ 5,000 7.3 $ 4,793  Tranche B - 30 month earn out period 5,000 7.7 4,441  $ 10,000 $ 9,234 

Schedule of Fair Value of Conti

Schedule of Fair Value of Contingent Consideration Rollforward (Table)	3 Months Ended
	Jun. 25, 2016
Business Combination, Contingent Consideration, Liability [Abstract]
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block]	  Three Months Ended  June 25,  2016  Beginning balance $ 9,068  Loss recognized in earnings (research and development expense) 166  Ending balance $ 9,234 

Accounts Receivable, net (Table

Accounts Receivable, net (Tables)	3 Months Ended
	Jun. 25, 2016
Accounts Receivable, net [Abstract]
Components of Accounts Receivable, net	   June 25, March 26,  2016 2016  Gross accounts receivable $ 141,457 $ 89,007  Allowance for doubtful accounts (564) (475)  Accounts receivable, net $ 140,893 $ 88,532 

Inventories (Tables)

Inventories (Tables)	3 Months Ended
	Jun. 25, 2016
Inventories [Abstract]
Schedule of Inventories	   June 25, March 26,  2016 2016  Work in process $ 84,064 $ 67,827  Finished goods 69,979 74,188  $ 154,043 $ 142,015 

Income Taxes (Tables)

Income Taxes (Tables)	3 Months Ended
	Jun. 25, 2016
Income Taxes [Abstract]
Schedule of Provision for Income Taxes and Effective Tax Rates	   Three Months Ended  June 25, June 27,  2016 2015  Income before income taxes $ 21,669 $ 49,498  Provision for income taxes $ 5,805 $ 16,144  Effective tax rate 26.8% 32.6% 

Pension Plan (Periodic Pension

Pension Plan (Periodic Pension Costs) (Tables)	3 Months Ended
	Jun. 25, 2016
Defined Benefit Plan, Net Periodic Benefit Cost [Abstract]
Schedule of Net Benefit Costs [Table Text Block]	   Fiscal Years Ended  June 25, June 27,  2016 2015  Expenses $ - $ -  Interest cost - -  Expected return on plan assets - -  Amortization of actuarial loss (gain) (27) 16  $ (27) $ 16 

Net Income Per Share (Tables)

Net Income Per Share (Tables)	3 Months Ended
	Jun. 25, 2016
Net Income Per Share [Abstract]
Schedule of Earnings Per Share, Basic and Diluted	   Three Months Ended  June 25, June 27,  2016 2015  Numerator:  Net income $ 15,864 $ 33,354  Denominator:  Weighted average shares outstanding 62,450 63,274  Effect of dilutive securities 2,782 3,136  Weighted average diluted shares 65,232 66,410  Basic earnings per share $ 0.25 $ 0.53  Diluted earnings per share $ 0.24 $ 0.50 

Segment Information (Tables)

Segment Information (Tables)	3 Months Ended
	Jun. 25, 2016
Segment Information [Abstract]
Schedule of Segment Revenue from Product Lines	   Three Months Ended  June 25, June 27,  2016 2015  Portable Audio Products $ 216,068 $ 235,866  Non-Portable Audio and Other Products 43,360 46,767  $ 259,428 $ 282,633 

Marketable Securities (Narrativ

Marketable Securities (Narrative) (Details) $ in Thousands	Jun. 25, 2016USD ($)security	Mar. 26, 2016USD ($)security
Marketable Securities [Abstract]
Gross Unrealized Losses | $	$ (40)	$ (100)
Amortized cost on available for sale securities held at gross unrealized loss | $	$ 63,000	$ 64,700
Number of securities in unrealized loss position | security	13	21
Number of securities in unrealized loss position greater than one year | security	6	2

Marketable Securities (Schedule

Marketable Securities (Schedule of Available-for-sale Securities) (Details) - USD ($) $ in Thousands	Jun. 25, 2016	Mar. 26, 2016
Schedule of Available-for-sale Securities [Line Items]
Estimated Fair Value	$ 95,013	$ 81,213
Gross Unrealized Gains	10
Gross Unrealized Losses	(40)	(100)
Amortized Cost	95,043	81,310
Corporate Debt Securities - U.S. [Member]
Schedule of Available-for-sale Securities [Line Items]
Estimated Fair Value	58,225	81,213
Gross Unrealized Gains	10	3
Gross Unrealized Losses	(20)	(100)
Amortized Cost	58,235	$ 81,310
Commercial Paper [Member]
Schedule of Available-for-sale Securities [Line Items]
Estimated Fair Value	36,788
Gross Unrealized Losses	(20)
Amortized Cost	$ 36,808

Marketable Securities (Schedu33

Marketable Securities (Schedule of Cost and Estimated Fair Value of Available-for-sale Securities by Contractual Maturity) (Details) - USD ($) $ in Thousands	Jun. 25, 2016	Mar. 26, 2016
Marketable Securities [Abstract]
Within 1 year, Amortized Cost	$ 91,109	$ 60,603
After 1 year, Amortized Cost	3,934	20,707
Amortized Cost	95,043	81,310
Within 1 year, Estimated Fair Value	91,090	60,582
After 1 year, Estimated Fair Value	3,923	20,631
Estimated Fair Value	$ 95,013	$ 81,213

Fair Value of Financial Instr34

Fair Value of Financial Instruments (Schedule of Fair Value of Financial Assets and Liabilities) (Details) - USD ($) $ in Thousands	Jun. 25, 2016	Mar. 26, 2016
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of financial liabilitites	$ 9,234
Other Long Term Liability Contingent Consideration [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of financial liabilitites	4,441
Other Long Term Liability Contingent Consideration [Member] | Significant Unobservable Inputs Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of financial liabilitites	4,441
Contingent Consideration [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of financial liabilitites	4,793
Contingent Consideration [Member] | Significant Unobservable Inputs Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of financial liabilitites	4,793
Cash Equivalents [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of financial assets	81,891
Cash Equivalents [Member] | Quoted Prices In Active Markets For Identical Assets Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of financial assets	76,881
Cash Equivalents [Member] | Significant Other Observable Inputs Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of financial assets	5,010
Cash Equivalents [Member] | Corporate Debt Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of financial assets	5,010
Cash Equivalents [Member] | Corporate Debt Securities [Member] | Significant Other Observable Inputs Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of financial assets	5,010
Cash Equivalents [Member] | Money-Market Funds [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of financial assets	76,881	$ 79,256
Cash Equivalents [Member] | Money-Market Funds [Member] | Quoted Prices In Active Markets For Identical Assets Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of financial assets	76,881	79,256
Available-for-sale Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of financial assets	95,013
Available-for-sale Securities [Member] | Significant Other Observable Inputs Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of financial assets	95,013
Available-for-sale Securities [Member] | Corporate Debt Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of financial assets	58,225	81,213
Available-for-sale Securities [Member] | Corporate Debt Securities [Member] | Significant Other Observable Inputs Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of financial assets	58,225	$ 81,213
Available-for-sale Securities [Member] | Commercial Paper [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of financial assets	36,788
Available-for-sale Securities [Member] | Commercial Paper [Member] | Significant Other Observable Inputs Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of financial assets	$ 36,788

Fair Value of Financial Instr35

Fair Value of Financial Instruments (Schedule of Contingent Consideration) (Details) $ in Thousands	3 Months Ended
	Jun. 25, 2016USD ($)
Fair Value, Net Asset (Liability)	$ 9,234
Tranche A [Member]
Fair Value Inputs, Discount Rate	7.30%
Fair Value, Net Asset (Liability)	$ 4,793
Tranche B [Member]
Fair Value Inputs, Discount Rate	7.70%
Fair Value, Net Asset (Liability)	$ 4,441
Weighted Average [Member]
Fair Value, Net Asset (Liability)	10,000
Weighted Average [Member] | Tranche A [Member]
Fair Value, Net Asset (Liability)	5,000
Weighted Average [Member] | Tranche B [Member]
Fair Value, Net Asset (Liability)	$ 5,000

Fair Value of Financial Instr36

Fair Value of Financial Instruments (Schedule of Fair Value of Contingent Consideration) (Details) $ in Thousands	3 Months Ended
	Jun. 25, 2016USD ($)
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Abstract]
Beginning Balance	$ 9,068
Loss recognized in earnings (research and development expense)	166
Ending Balance	$ 9,234

Accounts Receivable, net (Compo

Accounts Receivable, net (Components of Accounts Receivable, net) (Details) - USD ($) $ in Thousands	Jun. 25, 2016	Mar. 26, 2016
Accounts Receivable, net [Abstract]
Gross accounts receivable	$ 141,457	$ 89,007
Allowance for doubtful accounts	(564)	(475)
Accounts receivable, net	$ 140,893	$ 88,532

Inventories (Schedule of Invent

Inventories (Schedule of Inventories) (Details) - USD ($) $ in Thousands	Jun. 25, 2016	Mar. 26, 2016
Inventories [Abstract]
Work in process	$ 84,064	$ 67,827
Finished goods	69,979	74,188
Total inventories	$ 154,043	$ 142,015

Revolving Credit Facilities (Na

Revolving Credit Facilities (Narrative) (Details) - USD ($) $ in Thousands	Jul. 12, 2016	Jun. 25, 2016	Mar. 26, 2016
Line of credit facility maximum borrowing capacity		$ 250,000
Covenant terms, leverage ratio requirement		200.00%
Covenant terms, cash and cash equivalents		$ 100,000
Long-term Line of Credit, Noncurrent		$ 160,439	$ 160,439
Maximum [Member]
Line of credit facility, unused capacity, commitment fee percentage		0.35%
Maximum [Member] | Base Rate [Member]
Basis spread on variable interest rate		0.25%
Maximum [Member] | London Interbank Offered Rate (LIBOR) [Member]
Line of credit facility, interest rate description		2.00%
Minimum [Member]
Line of credit facility, unused capacity, commitment fee percentage		0.25%
Minimum [Member] | Base Rate [Member]
Basis spread on variable interest rate		0.00%
Minimum [Member] | London Interbank Offered Rate (LIBOR) [Member]
Line of credit facility, interest rate description		1.50%
Wells Fargo amended credit facility [Member]
Line of credit facility maximum borrowing capacity	$ 300,000
Covenant terms, leverage ratio requirement	300.00%
Wells Fargo amended credit facility [Member] | Maximum [Member]
Line of credit facility, unused capacity, commitment fee percentage	0.30%
Wells Fargo amended credit facility [Member] | Maximum [Member] | Base Rate [Member]
Basis spread on variable interest rate	0.50%
Wells Fargo amended credit facility [Member] | Maximum [Member] | London Interbank Offered Rate (LIBOR) [Member]
Basis spread on variable interest rate	2.00%
Wells Fargo amended credit facility [Member] | Minimum [Member]
Line of credit facility, unused capacity, commitment fee percentage	0.20%
Wells Fargo amended credit facility [Member] | Minimum [Member] | Base Rate [Member]
Basis spread on variable interest rate	0.00%
Wells Fargo amended credit facility [Member] | Minimum [Member] | London Interbank Offered Rate (LIBOR) [Member]
Basis spread on variable interest rate	1.25%

Patent Agreement and Other (Nar

Patent Agreement and Other (Narrative) (Details) $ in Thousands	3 Months Ended
	Jun. 27, 2015USD ($)
Consolidated Condensed Statements of Income [Abstract]
Patent agreement and other	$ 12,500

Income Taxes (Narrative) (Detai

Income Taxes (Narrative) (Details) - USD ($)	3 Months Ended
	Jun. 27, 2015	Jun. 25, 2016
Income Taxes [Abstract]
Unrecognized Tax Benefits		$ 20,100,000
Accrued interest and penalties
Interest and penalties incurred during period	$ 0
Decrease in Unrecognized Tax Benefits is Reasonably Possible		$ 2,300,000

Income Taxes (Table) (Details)

Income Taxes (Table) (Details) - USD ($) $ in Thousands	3 Months Ended
	Jun. 25, 2016	Jun. 27, 2015
Income Taxes [Abstract]
Income before income taxes	$ 21,669	$ 49,498
Provision for income taxes	$ 5,805	$ 16,144
Effective tax rate	26.80%	32.60%

Pension Plan (Net Periodic Pens

Pension Plan (Net Periodic Pension Expense) (Table) (Details) - USD ($) $ in Thousands	3 Months Ended
	Jun. 25, 2016	Jun. 27, 2015
Defined Benefit Plan, Net Periodic Benefit Cost [Abstract]
Amortization of actuarial loss (gain)	$ (27)	$ 16
Total net periodic benefit expense (income)	$ (27)	$ 16

Net Income Per Share (Narrative

Net Income Per Share (Narrative) (Details) - shares shares in Thousands	3 Months Ended
	Jun. 25, 2016	Jun. 27, 2015
Net Income Per Share [Abstract]
Weighted average outstanding options excluded from diluted calculation	618	275

Net Income Per Share (Calculati

Net Income Per Share (Calculation Of Basic And Diluted Earnings Per Share) (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Jun. 25, 2016	Jun. 27, 2015
Net Income Per Share [Abstract]
Net income	$ 15,864	$ 33,354
Basic weighted average common shares outstanding	62,450	63,274
Effect of dilutive securities	2,782	3,136
Diluted weighted average common shares outstanding	65,232	66,410
Basic earnings per share	$ 0.25	$ 0.53
Diluted earnings per share	$ 0.24	$ 0.50

Stockholders' Equity (Narrative

Stockholders' Equity (Narrative) (Details) - shares	3 Months Ended
	Jun. 25, 2016	Jun. 27, 2015
Stockholder's Equity [Abstract]
Stock Issued During Period, Shares, Share-based Compensation, Gross	300,000	400,000

Stockholder's Equity (Details)

Stockholder's Equity (Details) shares in Thousands	3 Months Ended	8 Months Ended
	Jun. 25, 2016USD ($)shares	Jun. 25, 2016USD ($)
Stockholder's Equity [Abstract]
Share repurchase program, amount approved	$ 200,000,000	$ 200,000,000
Repurchase and retirement of common stock, shares | shares	500
Repurchase and retirement of common stock, value	$ 15,400,000	24,200,000
Average cost per share repurchased	32.13
Remaining amount available for share repurchases under stock repurchase program	$ 175,800,000	$ 175,800,000

Segment Information (Narrative)

Segment Information (Narrative) (Details)	3 Months Ended
	Jun. 25, 2016segmentitem
Segment Information [Abstract]
Number of reportable segments | segment	1
Number of product lines | item	2

Segment Information (Schedule o

Segment Information (Schedule of Segment Revenue from Product Lines) (Details) - USD ($) $ in Thousands	3 Months Ended
	Jun. 25, 2016	Jun. 27, 2015
Segment Reporting Information [Line Items]
Net sales	$ 259,428	$ 282,633
Portable Audio Products [Member]
Segment Reporting Information [Line Items]
Net sales	216,068	235,866
Non-Portable Audio and Other Products [Member]
Segment Reporting Information [Line Items]
Net sales	$ 43,360	$ 46,767

Subsequent Event (Details)

Subsequent Event (Details) $ in Thousands	Jul. 12, 2016USD ($)	Jun. 25, 2016USD ($)	Mar. 26, 2016USD ($)
Line of credit facility maximum borrowing capacity		$ 250,000
Revolving credit sublimit	$ 25,000
Debt Instrument, Maturity Date, Description	The Amended Facility matures in five years
Amended facility maturity	5
Covenant terms, leverage ratio requirement		200.00%
Covenant Terms Fixed Charge Ratio Requirement	125.00%
Long-term Line of Credit, Noncurrent		$ 160,439	$ 160,439
Maximum [Member]
Line of credit facility, unused capacity, commitment fee percentage		0.35%
Maximum [Member] | Base Rate [Member]
Basis spread on variable interest rate		0.25%
Maximum [Member] | London Interbank Offered Rate (LIBOR) [Member]
Line of credit facility, interest rate description		2.00%
Minimum [Member]
Line of credit facility, unused capacity, commitment fee percentage		0.25%
Minimum [Member] | Base Rate [Member]
Basis spread on variable interest rate		0.00%
Minimum [Member] | London Interbank Offered Rate (LIBOR) [Member]
Line of credit facility, interest rate description		1.50%
Wells Fargo amended credit facility [Member]
Line of credit facility maximum borrowing capacity	$ 300,000
Covenant terms, leverage ratio requirement	300.00%
Wells Fargo amended credit facility [Member] | Maximum [Member]
Line of credit facility, unused capacity, commitment fee percentage	0.30%
Wells Fargo amended credit facility [Member] | Maximum [Member] | Base Rate [Member]
Basis spread on variable interest rate	0.50%
Wells Fargo amended credit facility [Member] | Maximum [Member] | London Interbank Offered Rate (LIBOR) [Member]
Basis spread on variable interest rate	2.00%
Wells Fargo amended credit facility [Member] | Minimum [Member]
Line of credit facility, unused capacity, commitment fee percentage	0.20%
Wells Fargo amended credit facility [Member] | Minimum [Member] | Base Rate [Member]
Basis spread on variable interest rate	0.00%
Wells Fargo amended credit facility [Member] | Minimum [Member] | London Interbank Offered Rate (LIBOR) [Member]
Basis spread on variable interest rate	1.25%