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Investments
 12 Months Ended
Mar. 30, 2019
Investments, Debt and Equity Securities [Abstract]  
Investments
Investments
Investments consist of the following (in thousands):
 
March 30,
2019
 
March 31,
2018
Available-for-sale debt securities
$
13,408

 
$
16,181

Marketable equity securities
11,073

 
10,405

Non-marketable equity investments
20,276

 
18,853

 
$
44,757

 
$
45,439


The Company's investments in marketable equity securities consist of investments in common stock of industrial and other companies.
Non-marketable equity investments includes $15.0 million as of March 30, 2019 and March 31, 2018, of contributions to equity-method investments in community-based initiatives that buy and sell our homes and provide home-only financing to residents of certain manufactured home communities. Other non-marketable investments include investments in other distribution operations.
The Company records investments in fixed maturity securities classified as available-for-sale at fair value and records the difference between fair value and cost in other comprehensive income. The following tables summarize the Company's available-for-sale debt securities, gross unrealized gains and losses and fair value, aggregated by investment category (in thousands):
 
March 30, 2019
 
Amortized
Cost
 
Gross
Unrealized
Gains
 
Gross
Unrealized
Losses
 
Fair
Value
U.S. Treasury and government debt securities
$
300

 
$
—

 
$
(3
)
 
$
297

Residential mortgage-backed securities
6,625

 
3

 
(119
)
 
6,509

State and political subdivision debt securities
4,883

 
117

 
(17
)
 
4,983

Corporate debt securities
1,635

 
3

 
(19
)
 
1,619

 
$
13,443

 
$
123

 
$
(158
)
 
$
13,408


 
March 31, 2018
 
Amortized
Cost
 
Gross
Unrealized
Gains
 
Gross
Unrealized
Losses
 
Fair
Value
U.S. Treasury and government debt securities
$
300

 
$
—

 
$
(7
)
 
$
293

Residential mortgage-backed securities
7,654

 
—

 
(155
)
 
7,499

State and political subdivision debt securities
6,377

 
109

 
(149
)
 
6,337

Corporate debt securities
2,081

 
1

 
(30
)
 
2,052

 
$
16,412

 
$
110

 
$
(341
)
 
$
16,181



The following tables show 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):
 
March 30, 2019
 
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
$
—

 
$
—

 
$
297

 
$
(3
)
 
$
297

 
$
(3
)
Residential mortgage-backed securities
1,066

 
(9
)
 
5,206

 
(110
)
 
6,272

 
(119
)
State and political subdivision debt securities
353

 
—

 
2,319

 
(17
)
 
2,672

 
(17
)
Corporate debt securities
243

 
(8
)
 
1,073

 
(11
)
 
1,316

 
(19
)
 
$
1,662

 
$
(17
)
 
$
8,895

 
$
(141
)
 
$
10,557

 
$
(158
)

 
March 31, 2018
 
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
$
293

 
$
(7
)
 
$
—

 
$
—

 
$
293

 
$
(7
)
Residential mortgage-backed securities
3,185

 
(52
)
 
3,909

 
(103
)
 
7,094

 
(155
)
State and political subdivision debt securities
2,224

 
(40
)
 
2,180

 
(109
)
 
4,404

 
(149
)
Corporate debt securities
1,384

 
(12
)
 
367

 
(18
)
 
1,751

 
(30
)
 
$
7,086

 
$
(111
)
 
$
6,456

 
$
(230
)
 
$
13,542

 
$
(341
)

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 March 30, 2019.
The amortized cost and fair value of the Company's investments in available-for-sale 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. 
 
March 30, 2019
 
Amortized
Cost
 
Fair
Value
Due in less than one year
$
1,265

 
$
1,258

Due after one year through five years
2,954

 
2,927

Due after five years through ten years
—

 
—

Due after ten years
2,599

 
2,714

Mortgage-backed securities
6,625

 
6,509

 
$
13,443

 
$
13,408


The Company recognizes investment gains and losses on debt securities when we sell or otherwise dispose of securities on a specific identification method. There were no gross gains realized on the sale of debt securities for fiscal years 2019, 2018 and 2017. Gross losses realized were $38,000, $63,000, and $43,000 for fiscal years 2019, 2018 and 2017, respectively.
Beginning in fiscal year 2019, we recognize unrealized gains and losses on marketable equity securities from changes in market prices during the period as a component of earnings in the Consolidated Statements of Comprehensive Income. See Note 1 for further discussion. Net investment gains and losses for fiscal years 2019, 2018 and 2017 were as follows (in thousands):
 
Year Ended
 
March 30, 2019
 
March 31, 2018
 
April 1, 2017
Marketable equity securities:
 
 
 
 
 
    Unrealized net losses on securities held at the end of the period
$
(291
)
 
$
—

 
—

    Net losses during fiscal 2019 on securities sold in fiscal 2019
(64
)
 
—

 
—

    Gross realized gains
—

 
5,962

 
1,118

    Gross realized losses
—

 
(203
)
 
(370
)
    Total net (loss) gain on marketable equity securities
$
(355
)
 
$
5,759

 
$
748