Investments

Investments consist of the following (in thousands):



	June 28, 2014		March 29, 2014
Available-for-sale investment securities	$	20,141	$	19,802
Non-marketable equity investments	5,473		5,652
	$	25,614	$	25,454

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):



	June 28, 2014
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
U.S. Treasury and government debt securities	$	2,163	$	1	$	(21	)	$	2,143
Residential mortgage-backed securities	3,065		14		(75		)	3,004
State and political subdivision debt securities	6,143		224		(11		)	6,356
Corporate debt securities	2,866		17		(1		)	2,882
Marketable equity securities	3,923		844		(61		)	4,706
Certificates of deposit	1,050		—		—			1,050
	$	19,210	$	1,100	$	(169	)	$	20,141



	March 29, 2014
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
U.S. Treasury and government debt securities	$	2,318	$	1	$	(46	)	$	2,273
Residential mortgage-backed securities	3,754		13		(149		)	3,618
State and political subdivision debt securities	5,923		155		(13		)	6,065
Corporate debt securities	1,550		24		—			1,574
Marketable equity securities	4,537		758		(73		)	5,222
Certificates of deposit	1,050		—		—			1,050
	$	19,132	$	951	$	(281	)	$	19,802

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):



	June 28, 2014
	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	$	445	$	(4	)	$	686	$	(17	)	$	1,131	$	(21	)
Residential mortgage-backed securities	1,267		(64		)	988		(11		)	2,255		(75		)
State and political subdivision debt securities	259		(5		)	249		(6		)	508		(11		)
Corporate debt securities	1,028		(1		)	—		—			1,028		(1		)
Marketable equity securities	608		(61		)	—		—			608		(61		)
	$	3,607	$	(135	)	$	1,923	$	(34	)	$	5,530	$	(169	)



	March 29, 2014
	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	$	1,562	$	(40	)	$	344	$	(6	)	$	1,906	$	(46	)
Residential mortgage-backed securities	2,553		(149		)	—		—			2,553		(149		)
State and political subdivision debt securities	507		(13		)	—		—			507		(13		)
Marketable equity securities	1,101		(73		)	—		—			1,101		(73		)
	$	5,723	$	(275	)	$	344	$	(6	)	$	6,067	$	(281	)

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 June 28, 2014.

As of June 28, 2014, the Company's investments in marketable equity securities consist of investments in common stock of industrial and other companies ($4.3 million of the total fair value and $53,000 of the total unrealized losses) and bank trust, insurance and public utility companies ($393,000 of the total fair value and $8,000 of the total unrealized losses).

As of March 29, 2014, the Company's investments in marketable equity securities consisted of investments in common stock of industrial and other companies ($4.7 million of the total fair value and $64,000 of the total unrealized losses) and bank trust, insurance and public utility companies ($478,000 of the total fair value and $9,000 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.



	June 28, 2014				March 29, 2014
	Amortized Cost		Fair Value		Amortized Cost		Fair Value
Due in less than one year	$	3,224	$	3,241	$	2,006	$	2,017
Due after one year through five years	2,834		2,862		2,908		2,949
Due after five years through ten years	1,589		1,578		924		872
Due after ten years	6,590		6,704		7,707		7,692
	$	14,237	$	14,385	$	13,545	$	13,530

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 months ended June 28, 2014 and June 29, 2013 were approximately $303,000 and $68,000, respectively. Gross losses realized were approximately $68,000 and $36,000 for the three months ended June 28, 2014 and June 29, 2013, respectively.