Investments (Tables)

6 Months Ended

Oct. 01, 2022

Investments, Debt and Equity Securities [Abstract]

Schedule of Investments

Investments consisted of the following (in thousands):

	October 1, 2022		April 2, 2022
Available-for-sale debt securities	$	19,488	$	17,760
Marketable equity securities	14,441		16,780
Non-marketable equity investments	20,761		20,479
	54,690		55,019
Less short-term investments	(16,367)		(20,086)
	$	38,323	$	34,933

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):

	October 1, 2022				April 2, 2022
	Amortized Cost		Fair Value		Amortized Cost		Fair Value
Residential mortgage-backed securities	$	3,161	$	3,059	$	1,668	$	1,613
State and political subdivision debt securities	6,560		6,208		10,100		9,906
Corporate debt securities	10,802		10,221		6,502		6,241
	$	20,523	$	19,488	$	18,270	$	17,760

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.

	October 1, 2022
	Amortized Cost		Fair Value
Due in less than one year	$	1,443	$	1,423
Due after one year through five years	14,521		13,610
Due after five years through ten years	1,005		1,007
Due after ten years	393		389
Mortgage-backed securities	3,161		3,059
	$	20,523	$	19,488

Gain (Loss) on Securities

There were no gross gains or losses realized on the sale of available-for-sale debt securities during the three and six months ended October 1, 2022 or October 2, 2021.

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

	Three Months Ended				Six Months Ended
	October 1, 2022		October 2, 2021		October 1, 2022		October 2, 2021
Marketable equity securities
Net (loss) gain recognized during the period	$	(233)	$	243	$	(2,575)	$	1,939
Less: Net loss (gain) recognized on securities sold during the period	216		(143)		290		(279)
Unrealized (loss) gain recognized during the period on securities still held	$	(17)	$	100	$	(2,285)	$	1,660