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Financial Instruments (Tables)
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12 Months Ended |
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Mar. 29, 2014
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| Investments, All Other Investments [Abstract] |
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| Available-for-sale securities |
The following is a summary of cash equivalents and available-for-sale securities as of the end of the periods presented: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| March 29, 2014 |
| | March 30, 2013 | (In thousands) | Amortized Cost |
| Gross Unrealized Gains |
| Gross Unrealized Losses |
| Estimated Fair Value |
| | Amortized Cost |
| Gross Unrealized Gains |
| Gross Unrealized Losses |
| Estimated Fair Value | Money market funds | $ | 213,988 |
|
| $ | — |
|
| $ | — |
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| $ | 213,988 |
|
| | $ | 108,311 |
|
| $ | — |
|
| $ | — |
|
| $ | 108,311 |
| Financial institution |
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| securities | 366,906 |
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| — |
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| — |
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| 366,906 |
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| | 304,921 |
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| — |
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| — |
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| 304,921 |
| Non-financial institution |
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| securities | 753,888 |
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| 3,428 |
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| (1,244 | ) |
| 756,072 |
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| | 594,561 |
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| 5,193 |
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| (135 | ) |
| 599,619 |
| Auction rate securities | 21,500 |
|
| — |
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| (1,340 | ) |
| 20,160 |
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| | 31,900 |
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| — |
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| (3,200 | ) |
| 28,700 |
| Municipal bonds | 31,367 |
|
| 604 |
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| (205 | ) |
| 31,766 |
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| | 24,496 |
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| 514 |
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| (70 | ) |
| 24,940 |
| U.S. government and |
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| |
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| agency securities | 548,568 |
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| 1,135 |
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| (184 | ) |
| 549,519 |
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| | 696,836 |
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| 431 |
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| (45 | ) |
| 697,222 |
| Foreign government and |
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| |
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| agency securities | 354,935 |
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| — |
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| — |
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| 354,935 |
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| | 269,901 |
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| — |
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| — |
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| 269,901 |
| Mortgage-backed securities | 1,234,237 |
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| 11,380 |
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| (10,528 | ) |
| 1,235,089 |
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| | 1,180,156 |
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| 17,601 |
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| (5,077 | ) |
| 1,192,680 |
| Debt mutual funds | 81,350 |
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| 216 |
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| (4,652 | ) |
| 76,914 |
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| | 61,350 |
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| 1,577 |
|
| — |
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| 62,927 |
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| $ | 3,606,739 |
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| $ | 16,763 |
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| $ | (18,153 | ) |
| $ | 3,605,349 |
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| | $ | 3,272,432 |
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| $ | 25,316 |
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| $ | (8,527 | ) |
| $ | 3,289,221 |
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| Fair values and gross unrealized losses of the investments |
The following tables show the fair values and gross unrealized losses of the Company’s investments, aggregated by investment category, for individual securities that have been in a continuous unrealized loss position for the length of time specified, as of March 29, 2014 and March 30, 2013:
| | | | | | | | | | | | | | | | | | | | | | | | |
| March 29, 2014 |
| Less Than 12 Months |
| 12 Months or Greater |
| Total | (In thousands) | Fair Value |
| Gross Unrealized Losses |
| Fair Value |
| Gross Unrealized Losses |
| Fair Value |
| Gross Unrealized Losses | Non-financial institution securities | $ | 112,470 |
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| $ | (1,167 | ) |
| $ | 4,488 |
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| $ | (77 | ) |
| $ | 116,958 |
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| $ | (1,244 | ) | Auction rate securities | — |
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| — |
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| 20,160 |
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| (1,340 | ) |
| 20,160 |
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| (1,340 | ) | Municipal bonds | 5,917 |
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| (166 | ) |
| 1,743 |
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| (39 | ) |
| 7,660 |
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| (205 | ) | U.S. government and |
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| agency securities | 118,125 |
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| (184 | ) |
| — |
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| — |
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| 118,125 |
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| (184 | ) | Mortgage-backed securities | 457,903 |
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| (7,225 | ) |
| 132,376 |
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| (3,303 | ) |
| 590,279 |
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| (10,528 | ) | Debt mutual fund | 56,698 |
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| (4,652 | ) |
| — |
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| — |
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| 56,698 |
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| (4,652 | ) |
| $ | 751,113 |
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| $ | (13,394 | ) |
| $ | 158,767 |
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| $ | (4,759 | ) |
| $ | 909,880 |
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| $ | (18,153 | ) |
| | | | | | | | | | | | | | | | | | | | | | | | |
| March 30, 2013 |
| Less Than 12 Months |
| 12 Months or Greater |
| Total | (In thousands) | Fair Value |
| Gross Unrealized Losses |
| Fair Value |
| Gross Unrealized Losses |
| Fair Value |
| Gross Unrealized Losses | Non-financial institution securities | $ | 27,114 |
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| $ | (135 | ) |
| $ | — |
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| $ | — |
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| $ | 27,114 |
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| $ | (135 | ) | Auction rate securities | — |
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| — |
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| 28,701 |
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| (3,200 | ) |
| 28,701 |
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| (3,200 | ) | Municipal bonds | 8,927 |
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| (70 | ) |
| 60 |
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| — |
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| 8,987 |
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| (70 | ) | U.S. government and |
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| agency securities | 388,696 |
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| (45 | ) |
| — |
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| — |
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| 388,696 |
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| (45 | ) | Mortgage-backed securities | 367,561 |
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| (4,930 | ) |
| 11,029 |
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| (147 | ) |
| 378,590 |
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| (5,077 | ) |
| $ | 792,298 |
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| $ | (5,180 | ) |
| $ | 39,790 |
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| $ | (3,347 | ) |
| $ | 832,088 |
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| $ | (8,527 | ) |
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| Amortized cost and estimated fair value of marketable debt securities |
| | | | | | | | | | March 29, 2014 | (In thousands) | Amortized
Cost |
| Estimated
Fair Value | Due in one year or less | $ | 1,614,563 |
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| $ | 1,614,735 |
| Due after one year through five years | 437,854 |
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| 440,661 |
| Due after five years through ten years | 231,266 |
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| 232,909 |
| Due after ten years | 1,027,718 |
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| 1,026,142 |
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| $ | 3,311,401 |
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| $ | 3,314,447 |
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| Information on sale of available-for-sale securities |
Certain information related to available-for-sale securities is as follows: | | | | | | | | | | | | | (In thousands) | March 29, 2014 |
| March 30, 2013 |
| March 31, 2012 | Gross realized gains on sale of available-for-sale securities | $ | 2,080 |
|
| $ | 3,488 |
| | $ | 2,916 |
| Gross realized losses on sale of available-for-sale securities | (2,412 | ) |
| (673 | ) | | (401 | ) | Net realized gains (losses) on sale of available-for-sale securities | $ | (332 | ) |
| $ | 2,815 |
| | $ | 2,515 |
| Amortization of premiums on available-for-sale securities | $ | 27,293 |
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| $ | 25,123 |
| | $ | 13,302 |
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