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Investments
 9 Months Ended
Dec. 31, 2016
Investments, Debt and Equity Securities [Abstract]  
Investments
Investments
Investments consist of the following (in thousands):
 
December 31,
2016
 
April 2,
2016
Available-for-sale investment securities
$
25,236

 
$
24,247

Non-marketable equity investments
15,788

 
14,841

 
$
41,024

 
$
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):
 
December 31, 2016
 
Amortized
Cost
 
Gross
Unrealized
Gains
 
Gross
Unrealized
Losses
 
Fair
Value
U.S. Treasury and government debt securities
$
650

 
$
—

 
$
(1
)
 
$
649

Residential mortgage-backed securities
5,859

 
5

 
(90
)
 
5,774

State and political subdivision debt securities
7,209

 
139

 
(120
)
 
7,228

Corporate debt securities
1,703

 
3

 
(29
)
 
1,677

Marketable equity securities
4,995

 
4,046

 
(133
)
 
8,908

Certificates of deposit
1,000

 
—

 
—

 
1,000

 
$
21,416

 
$
4,193

 
$
(373
)
 
$
25,236


 
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):
 
December 31, 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
$
349

 
$
(1
)
 
$
—

 
$
—

 
$
349

 
$
(1
)
Residential mortgage-backed securities
3,660

 
(47
)
 
1,570

 
(43
)
 
5,230

 
(90
)
State and political subdivision debt securities
2,657

 
(41
)
 
2,092

 
(79
)
 
4,749

 
(120
)
Corporate debt securities
1,422

 
(29
)
 
—

 
—

 
1,422

 
(29
)
Marketable equity securities
792

 
(65
)
 
304

 
(68
)
 
1,096

 
(133
)
 
$
8,880

 
$
(183
)
 
$
3,966

 
$
(190
)
 
$
12,846

 
$
(373
)

 
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 December 31, 2016.
As of December 31, 2016, the Company's investments in marketable equity securities consist of investments in common stock of industrial and other companies ($8.9 million of the total fair value and $133,000 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.
 
December 31, 2016
 
Amortized
Cost
 
Fair
Value
Due in less than one year
$
2,276

 
$
2,261

Due after one year through five years
3,772

 
3,729

Due after five years through ten years
3,244

 
3,137

Due after ten years
6,129

 
6,201

 
$
15,421

 
$
15,328


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 nine months ended December 31, 2016 were approximately $386,000 and $1.0 million, respectively. Gross losses realized were approximately $46,000 and $303,000 for the three and nine months ended December 31, 2016, respectively. Gross gains realized on the sales of investment securities for the three and nine months ended December 26, 2015 were approximately $74,000 and $305,000, respectively. Gross losses realized were approximately $51,000 and $163,000 for the three and nine months ended December 26, 2015.