Cash and Cash Equivalents and Investments

3 Months Ended

Jun. 28, 2015

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.

	June 28, 2015
(In thousands)			Level 1		Level 2		Level 3
Assets:
Cash and cash equivalents	$	18,071	$	18,071	$	—	$	—
Certificates of deposit	28,243		—		28,243		—
Municipal bonds	1,817		—		1,817		—
	March 29, 2015
(In thousands)			Level 1		Level 2		Level 3
Assets:
Cash and cash equivalents	$	18,639	$	18,639	$	—	$	—
Certificates of deposit	29,136		—		29,136		—
Municipal bonds	2,598		—		2,598		—

Our financial assets that are measured at fair value on a recurring basis and fall within valuation technique Level 2 are certificates of deposit (“CDs”) and municipal bonds, with original maturities ranging from three months to three years. The CDs and municipal bonds are classified as investments in current assets and noncurrent assets on the condensed consolidated balance sheets. As of June 28, 2015, the combined CDs and municipal bonds had a fair value of $14.0 million in current assets and $16.1 million in noncurrent assets compared to CDs and municipal bonds with a fair value of $14.5 million in current assets and $17.2 million in noncurrent assets as of March 29, 2015.