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Financial Instruments (Tables)
 6 Months Ended
Sep. 26, 2015
Investments, All Other Investments [Abstract]  
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:
 
September 26, 2015
 
 
March 28, 2015
(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
$
203,815

 
$
—

 
$
—

 
$
203,815

 
 
$
235,583

 
$
—

 
$
—

 
$
235,583

Financial institution


 


 


 


 
 


 


 


 


securities
300,006

 
—

 
—

 
300,006

 
 
304,999

 
—

 
—

 
304,999

Non-financial institution


 


 


 


 
 


 


 


 


securities
471,681

 
82

 
(232
)
 
471,531

 
 
429,005

 
25

 
(6
)
 
429,024

Auction rate securities
10,500

 
—

 
(87
)
 
10,413

 
 
10,500

 
—

 
(188
)
 
10,312

Municipal bonds
62,776

 
584

 
(246
)
 
63,114

 
 
49,064

 
744

 
(152
)
 
49,656

U.S. government and

 

 

 

 
 

 

 

 

agency securities
451,441

 
144

 
(7
)
 
451,578

 
 
757,954

 
91

 
(129
)
 
757,916

Foreign government and
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
agency securities
201,481

 
—

 
—

 
201,481

 
 
197,932

 
—

 
—

 
197,932

Mortgage-backed securities
1,116,561

 
8,489

 
(4,845
)
 
1,120,205

 
 
1,075,730

 
8,942

 
(4,496
)
 
1,080,176

Asset-backed securities
214,120

 
1,251

 
(523
)
 
214,848

 
 
211,487

 
1,130

 
(159
)
 
212,458

Debt mutual funds
101,350

 
—

 
(13,029
)
 
88,321

 
 
101,350

 
—

 
(6,150
)
 
95,200

Bank loans
104,101

 
44

 
(93
)
 
104,052

 
 
98,131

 
29

 
(60
)
 
98,100

Commercial mortgage-
























backed securities
159,227


424


(833
)

158,818


 
—


—


—


—

 
$
3,397,059

 
$
11,018

 
$
(19,895
)
 
$
3,388,182

 
 
$
3,471,735

 
$
10,961

 
$
(11,340
)
 
$
3,471,356
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 September 26, 2015 and March 28, 2015:

 
September 26, 2015
 
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
$
65,885

 
$
(232
)
 
$
—

 
$
—

 
$
65,885

 
$
(232
)
Auction rate securities
—

 
—

 
10,414

 
(87
)
 
10,414

 
(87
)
Municipal bonds
24,204

 
(107
)
 
2,407

 
(139
)
 
26,611

 
(246
)
U.S. government and

 

 

 

 


 


    agency securities
63,640

 
(7
)
 
—

 
—

 
63,640

 
(7
)
Mortgage-backed securities
471,040

 
(3,681
)
 
52,141

 
(1,164
)
 
523,181

 
(4,845
)
Asset-backed securities
72,972

 
(479
)
 
9,631

 
(44
)
 
82,603

 
(523
)
Debt mutual funds
34,650

 
(5,350
)
 
53,671

 
(7,679
)
 
88,321

 
(13,029
)
Bank loans
42,444

 
(61
)

28,253

 
(32
)
 
70,697

 
(93
)
Commercial mortgage-













backed securities
70,654


(819
)

342


(14
)

70,996


(833
)
 
$
845,489

 
$
(10,736
)
 
$
156,859

 
$
(9,159
)
 
$
1,002,348

 
$
(19,895
)

 
March 28, 2015
 
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
$
7,190

 
$
(6
)
 
$
—

 
$
—

 
$
7,190

 
$
(6
)
Auction rate securities
—

 
—

 
10,312

 
(188
)
 
10,312

 
(188
)
Municipal bonds
10,014

 
(94
)
 
1,931

 
(58
)
 
11,945

 
(152
)
U.S. government and

 

 

 

 

 

    agency securities
451,296

 
(129
)
 
—

 
—

 
451,296

 
(129
)
Mortgage-backed securities
448,770

 
(3,169
)
 
49,207

 
(1,327
)
 
497,977

 
(4,496
)
Asset-backed securities
75,009

 
(159
)
 
—

 
—

 
75,009

 
(159
)
Debt mutual funds
38,608

 
(1,392
)
 
56,592

 
(4,758
)
 
95,200

 
(6,150
)
Bank loans
65,085

 
(60
)
 
—

 
—

 
65,085

 
(60
)
 
$
1,095,972

 
$
(5,009
)
 
$
118,042

 
$
(6,331
)
 
$
1,214,014

 
$
(11,340
)
Amortized cost and estimated fair value of marketable debt securities
 
September 26, 2015
(In thousands)
Amortized
Cost
 
Estimated
Fair Value
Due in one year or less
$
1,263,805

 
$
1,263,844

Due after one year through five years
420,118

 
419,993

Due after five years through ten years
292,227

 
292,621

Due after ten years
1,115,744

 
1,119,588


$
3,091,894

 
$
3,096,046
Information on sale of available-for-sale securities
Certain information related to available-for-sale securities is as follows:
 
Three Months Ended
 
Six Months Ended
(In thousands)
September 26, 2015
 
September 27, 2014
 
September 26, 2015
 
September 27, 2014
Proceeds from sale of available-for-sale securities
$
54,989

 
$
236,263

 
$
121,030

 
$
295,844

Gross realized gains on sale of available-for-sale securities
$
476

 
$
2,243

 
$
836

 
$
3,080

Gross realized losses on sale of available-for-sale securities
(88
)
 
(501
)
 
(218
)
 
(668
)
Net realized gains on sale of available-for-sale securities
$
388

 
$
1,742

 
$
618

 
$
2,412

Amortization of premiums on available-for-sale securities
$
7,043

 
$
6,413

 
$
13,511

 
$
12,646