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Investments
 6 Months Ended
Sep. 28, 2013
Investments, Debt and Equity Securities [Abstract]  
Investments
Investments consist of the following (in thousands):
 
September 28,
2013
 
March 30,
2013
Available-for-sale investment securities
$
17,809

 
$
17,698

Equity method investment
1,000

 
—

 
$
18,809

 
$
17,698

Investments
Investments consist of the following (in thousands):
 
September 28,
2013
 
March 30,
2013
Available-for-sale investment securities
$
17,809

 
$
17,698

Equity method investment
1,000

 
—

 
$
18,809

 
$
17,698


The following tables summarize the Company’s available-for-sale investment securities, gross unrealized gains and losses and fair value, aggregated by investment category (in thousands):
 
September 28, 2013
 
Amortized
Cost
 
Gross
Unrealized
Gains
 
Gross
Unrealized
Losses
 
Fair
Value
U.S. Treasury and government debt securities
$
2,831

 
$
5

 
$
(81
)
 
$
2,755

Residential mortgage-backed securities
3,818

 
12

 
(250
)
 
3,580

State and political subdivision debt securities
5,398

 
61

 
(19
)
 
5,440

Corporate debt securities
1,823

 
34

 
—

 
1,857

Marketable equity securities
3,684

 
520

 
(27
)
 
4,177

 
$
17,554

 
$
632

 
$
(377
)
 
$
17,809


 
March 30, 2013
 
Amortized
Cost
 
Gross
Unrealized
Gains
 
Gross
Unrealized
Losses
 
Fair
Value
U.S. Treasury and government debt securities
$
2,682

 
$
11

 
$
(6
)
 
$
2,687

Residential mortgage-backed securities
5,226

 
21

 
(108
)
 
5,139

State and political subdivision debt securities
1,681

 
32

 
—

 
1,713

Corporate debt securities
2,788

 
48

 
—

 
2,836

Marketable equity securities
4,782

 
609

 
(68
)
 
5,323

 
$
17,159

 
$
721

 
$
(182
)
 
$
17,698


The following tables show the gross unrealized losses and fair value, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position (in thousands):
 
September 28, 2013
 
Less than 12 Months
 
12 Months or Longer
 
Total
 
Fair
Value
 
Unrealized
Losses
 
Fair
Value
 
Unrealized
Losses
 
Fair
Value
 
Unrealized
Losses
U.S. Treasury and government debt securities
$
1,721

 
$
(81
)
 
$
—

 
$
—

 
$
1,721

 
$
(81
)
Residential mortgage-backed securities
3,013

 
(250
)
 
—

 
—

 
3,013

 
(250
)
States and political subdivisions
1,308

 
(19
)
 
—

 
—

 
1,308

 
(19
)
Marketable equity securities
351

 
(20
)
 
201

 
(7
)
 
552

 
(27
)
 
$
6,393

 
$
(370
)
 
$
201

 
$
(7
)
 
$
6,594

 
$
(377
)

 
March 30, 2013
 
Less than 12 Months
 
12 Months or Longer
 
Total
 
Fair
Value
 
Unrealized
Losses
 
Fair
Value
 
Unrealized
Losses
 
Fair
Value
 
Unrealized
Losses
U.S. Treasury and government debt securities
$
1,084

 
$
(6
)
 
$
—

 
$
—

 
$
1,084

 
$
(6
)
Residential mortgage-backed securities
1,460

 
(108
)
 
—

 
—

 
1,460

 
(108
)
Marketable equity securities
413

 
(13
)
 
304

 
(55
)
 
717

 
(68
)
 
$
2,957

 
$
(127
)
 
$
304

 
$
(55
)
 
$
3,261

 
$
(182
)

Based on the Company’s ability and intent to hold the investments for a reasonable period of time sufficient for a forecasted recovery of fair value, the Company does not consider any investments to be other-than-temporarily impaired at September 28, 2013.
As of September 28, 2013, the Company’s investments in marketable equity securities consist of investments in common stock of industrial and other companies ($2.8 million of the total fair value and $13,000 of the total unrealized losses) and bank trust, insurance, and public utility companies ($1.4 million of the total fair value and $14,000 of the total unrealized losses).
As of March 30, 2013, the Company’s investments in marketable equity securities consisted of investments in common stock of industrial and other companies ($3.7 million of the total fair value and $51,000 of the total unrealized losses) and bank trust, insurance, and public utility companies ($1.6 million of the total fair value and $17,000 of the total unrealized losses).
The amortized cost and fair value of the Company’s investments in debt securities, by contractual maturity, are shown in the table below (in thousands). Expected maturities will differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties.
 
September 28, 2013
 
March 30, 2013
 
Amortized
Cost
 
Fair
Value
 
Amortized
Cost
 
Fair
Value
Due in less than one year
$
1,514

 
$
1,525

 
$
1,600

 
$
1,607

Due after one year through five years
3,711

 
3,756

 
4,786

 
4,880

Due after five years through ten years
992

 
939

 
924

 
893

Due after ten years
7,653

 
7,412

 
5,067

 
4,995

 
$
13,870

 
$
13,632

 
$
12,377

 
$
12,375


Realized gains and losses from the sale of securities are determined using the specific identification method. Gross gains realized on the sales of investment securities for the three and six months ended September 28, 2013 were approximately $396,000 and $464,000, respectively. Gross losses realized were approximately $48,000 and $84,000, respectively, for the three and six months ended September 28, 2013.