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Investments
 3 Months Ended
Jul. 02, 2016
Investments, Debt and Equity Securities [Abstract]  
Investments
Investments
Investments consist of the following (in thousands):
 
July 2,
2016
 
April 2,
2016
Available-for-sale investment securities
$
23,763

 
$
24,247

Non-marketable equity investments
14,764

 
14,841

 
$
38,527

 
$
39,088


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):
 
July 2, 2016
 
Amortized
Cost
 
Gross
Unrealized
Gains
 
Gross
Unrealized
Losses
 
Fair
Value
U.S. Treasury and government debt securities
$
650

 
$
1

 
$
—

 
$
651

Residential mortgage-backed securities
5,680

 
19

 
(49
)
 
5,650

State and political subdivision debt securities
7,914

 
291

 
(65
)
 
8,140

Corporate debt securities
911

 
8

 
(3
)
 
916

Marketable equity securities
5,619

 
2,138

 
(351
)
 
7,406

Certificates of deposit
1,000

 
—

 
—

 
1,000

 
$
21,774

 
$
2,457

 
$
(468
)
 
$
23,763


 
April 2, 2016
 
Amortized
Cost
 
Gross
Unrealized
Gains
 
Gross
Unrealized
Losses
 
Fair
Value
U.S. Treasury and government debt securities
$
1,002

 
$
—

 
$
(3
)
 
$
999

Residential mortgage-backed securities
5,866

 
13

 
(60
)
 
5,819

State and political subdivision debt securities
7,231

 
239

 
(49
)
 
7,421

Corporate debt securities
1,166

 
4

 
(6
)
 
1,164

Marketable equity securities
5,882

 
2,374

 
(412
)
 
7,844

Certificates of deposit
1,000

 
—

 
—

 
1,000

 
$
22,147

 
$
2,630

 
$
(530
)
 
$
24,247


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):
 
July 2, 2016
 
Less than 12 Months
 
12 Months or Longer
 
Total
 
Fair
Value
 
Unrealized
Losses
 
Fair
Value
 
Unrealized
Losses
 
Fair
Value
 
Unrealized
Losses
Residential mortgage-backed securities
$
3,036

 
$
(18
)
 
$
493

 
$
(31
)
 
$
3,529

 
$
(49
)
State and political subdivision debt securities
1,852

 
(29
)
 
1,734

 
(36
)
 
3,586

 
(65
)
Corporate debt securities
—

 
—

 
249

 
(3
)
 
249

 
(3
)
Marketable equity securities
1,792

 
(247
)
 
184

 
(104
)
 
1,976

 
(351
)
 
$
6,680

 
$
(294
)
 
$
2,660

 
$
(174
)
 
$
9,340

 
$
(468
)

 
April 2, 2016
 
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
$
—

 
$
—

 
$
699

 
$
(3
)
 
$
699

 
$
(3
)
Residential mortgage-backed securities
3,436

 
(27
)
 
898

 
(33
)
 
4,334

 
(60
)
State and political subdivision debt securities
1,865

 
(29
)
 
1,257

 
(20
)
 
3,122

 
(49
)
Corporate debt securities
763

 
(6
)
 
—

 
—

 
763

 
(6
)
Marketable equity securities
1,780

 
(324
)
 
152

 
(88
)
 
1,932

 
(412
)
 
$
7,844

 
$
(386
)
 
$
3,006

 
$
(144
)
 
$
10,850

 
$
(530
)

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 July 2, 2016.
As of July 2, 2016, the Company's investments in marketable equity securities consist of investments in common stock of industrial and other companies ($7.3 million of the total fair value and $348,000 of the total unrealized losses) and bank trust, insurance and public utility companies ($100,000 of the total fair value and $3,000 of the total unrealized losses).
As of April 2, 2016, the Company's investments in marketable equity securities consisted of investments in common stock of industrial and other companies ($7.7 million of the total fair value and $409,000 of the total unrealized losses) and bank trust, insurance and public utility companies ($100,000 of the total fair value and $3,000 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 differ from contractual maturities as borrowers may have the right to call or prepay obligations with or without call or prepayment penalties.
 
July 2, 2016
 
Amortized
Cost
 
Fair
Value
Due in less than one year
$
1,015

 
$
1,013

Due after one year through five years
3,199

 
3,216

Due after five years through ten years
3,680

 
3,628

Due after ten years
7,261

 
7,500

 
$
15,155

 
$
15,357


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 July 2, 2016 were approximately $453,000. Gross losses realized were approximately $149,000 for the three months ended July 2, 2016. Gross gains realized on the sales of investment securities for the three months ended June 27, 2015 were approximately $180,000. Gross losses realized were approximately $46,000 for the three months ended June 27, 2015.