Investments (Tables)

9 Months Ended

Jan. 01, 2022

Investments, Debt and Equity Securities [Abstract]

Schedule of Investments

Investments consisted of the following (in thousands):

	January 1, 2022		April 3, 2021
Available-for-sale debt securities	$	17,101	$	14,946
Marketable equity securities	19,100		17,600
Non-marketable equity investments	20,292		21,960
	56,493		54,506
Less short-term investments	(21,116)		(19,496)
	$	35,377	$	35,010

Amortized cost and fair value by security type

The amortized cost and fair value of our investments in available-for-sale debt securities, by security type are shown in the table below (in thousands).

	January 1, 2022				April 3, 2021
	Amortized Cost		Fair Value		Amortized Cost		Fair Value
Residential mortgage-backed securities	$	2,165	$	2,157	$	2,787	$	2,804
State and political subdivision debt securities	7,521		7,538		7,239		7,345
Corporate debt securities	7,469		7,406		4,797		4,797
	$	17,155	$	17,101	$	14,823	$	14,946

Contractual Maturity of Investment Securities

The amortized cost and fair value of our 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 penalties.

	January 1, 2022
	Amortized Cost		Fair Value
Due in less than one year	$	1,604	$	1,608
Due after one year through five years	11,473		11,353
Due after five years through ten years	1,264		1,307
Due after ten years	649		676
Mortgage-backed securities	2,165		2,157
	$	17,155	$	17,101

Gain (Loss) on Securities

Gross gains realized on the sale of available-for-sale debt securities during the three and nine months ended January 1, 2022 were $2,000, and there were no gross losses. For the three and nine months ended December 26, 2020, there were no gross gains realized on the sale of available-for-sale debt securities and gross losses realized were $1,000 and $6,000 respectively.

Net investment gains and losses on marketable equity securities were as follows (in thousands):

	Three Months Ended				Nine Months Ended
	January 1, 2022		December 26, 2020		January 1, 2022		December 26, 2020
Marketable equity securities
Net gain recognized during the period	$	2,967	$	2,008	$	4,906	$	5,289
Less: Net gains recognized on securities sold during the period	(257)		(151)		(536)		(157)
Unrealized gains recognized during the period on securities still held	$	2,710	$	1,857	$	4,370	$	5,132