Investments (Tables)

9 Months Ended

Dec. 28, 2014

Investments, Debt and Equity Securities [Abstract]

Available-for-sale investments at December 28, 2014 were as follows:



(in thousands)	Cost			Gross Unrealized Gains		Gross Unrealized Losses			Estimated Fair Value
U.S. government treasuries and agencies securities	$	119,048		$	59	$	(120	)	$	118,987
Money market funds	62,968			—		—			62,968
Asset-backed securities	26,093			3		(20		)	26,076
Corporate bonds	208,634			130		(437		)	208,327
International government bonds	1,011			—		(10		)	1,001
Corporate commercial paper	11,394			—		—			11,394
Bank deposits	13,667			—		—			13,667
Repurchase agreements	194			—		—			194
Municipal bonds	7,011			23		(20		)	7,014
Total available-for-sale investments	450,020			215		(607		)	449,628
Less amounts classified as cash equivalents	(66,062		)	—		—			(66,062		)
Short-term investments	$	383,958		$	215	$	(607	)	$	383,566

Available-for-sale investments at March 30, 2014 were as follows:



(in thousands)	Cost			Gross Unrealized Gains		Gross Unrealized Losses			Estimated Fair Value
U.S. government treasuries and agencies securities	$	112,268		$	76	$	(91	)	$	112,253
Money market funds	53,430			—		—			53,430
Asset-backed securities	22,330			11		(9		)	22,332
Corporate bonds	199,598			335		(127		)	199,806
International government bonds	3,023			—		(9		)	3,014
Corporate commercial paper	6,246			—		—			6,246
Bank deposits	18,538			—		—			18,538
Repurchase agreements	46			—		—			46
Municipal bonds	9,196			32		(18		)	9,210
Total available-for-sale investments	424,675			454		(254		)	424,875
Less amounts classified as cash equivalents	(62,271		)	—		—			(62,271		)
Short-term investments	$	362,404		$	454	$	(254	)	$	362,604

Contractual Maturity of Available-For-Sale Debt Securities

The cost and estimated fair value of available-for-sale securities at December 28, 2014, by contractual maturity, were as follows:



(in thousands)	Amortized Cost		Estimated Fair Value
Due in 1 year or less	$	160,433	$	160,424
Due in 1-2 years	126,208		126,250
Due in 2-5 years	163,379		162,954
Total investments in available-for-sale securities	$	450,020	$	449,628

Gross Unrealized Losses and Fair Value of Investments in Continuous Loss Position

The following table shows the gross unrealized losses and fair value of the Company’s investments with unrealized losses as of December 28, 2014, aggregated by investment category and length of time that individual securities have been in a continuous loss position.



	Less Than 12 Months					12 Months or Greater				Total
(in thousands)	Fair Value		Unrealized Loss			Fair Value		Unrealized Loss		Fair Value		Unrealized Loss
Corporate bonds	$	124,843	$	(437	)	$	—	$	—	$	124,843	$	(437	)
Asset-backed securities	18,015		(20		)	—		—		18,015		(20		)
U.S. government treasuries and agencies securities	61,922		(120		)	—		—		61,922		(120		)
Municipal bonds	2,889		(20		)	—		—		2,889		(20		)
International government bonds	1,001		(10		)	—		—		1,001		(10		)
Total	$	208,670	$	(607	)	$	—	$	—	$	208,670	$	(607	)

The following table shows the gross unrealized losses and fair value of the Company’s investments with unrealized losses, as of March 30, 2014, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position.



	Less Than 12 Months					12 Months or Greater				Total
(in thousands)	Fair Value		Unrealized Loss			Fair Value		Unrealized Loss		Fair Value		Unrealized Loss
Corporate bonds	$	52,783	$	(127	)	$	—	$	—	$	52,783	$	(127	)
Asset-backed securities	11,156		(9		)	—		—		11,156		(9		)
U.S. government treasuries and agencies securities	36,403		(91		)	—		—		36,403		(91		)
Municipal bonds	4,000		(18		)	—		—		4,000		(18		)
International government bonds	3,014		(9		)	—		—		3,014		(9		)
Total	$	107,356	$	(254	)	$	—	$	—	$	107,356	$	(254	)