Cash and Cash Equivalents and Investments

6 Months Ended

Sep. 28, 2014

Cash and Cash Equivalents [Abstract]

Cash and Cash Equivalents and Investments

Cash and Cash Equivalents and Investments

The following table presents information about our financial assets that are measured at fair value on a recurring basis, and indicates the fair value hierarchy of the valuation techniques utilized to determine such fair value.

	September 28, 2014
(In thousands)			Level 1		Level 2		Level 3
Assets:
Cash and cash equivalents	$	26,701	$	26,701	$	—	$	—
Certificates of deposit	30,602		—		30,602		—
Municipal bonds	4,297		—		4,297		—
	March 30, 2014
(In thousands)			Level 1		Level 2		Level 3
Assets:
Cash and cash equivalents	$	33,486	$	33,486	$	—	$	—
Certificates of deposit	24,437		—		24,437		—
Municipal bonds	5,258		—		5,258		—

Our financial assets that are measured at fair value on a recurring basis are certificates of deposit (“CD’s”) and municipal bonds, with original maturities ranging from three months to three years, that fall within valuation technique Level 2. The CD’s and municipal bonds are classified as investments in current assets and noncurrent assets on the condensed consolidated balance sheets. As of September 28, 2014, the combined CD’s and municipal bonds had a fair value of $15.4 million in current assets and $19.5 million in noncurrent assets compared to CD’s and municipal bonds with a fair value of $13.8 million in current assets and $15.9 million in noncurrent assets as of March 30, 2014.