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Financial Instruments (Tables)
 3 Months Ended
Jul. 02, 2016
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:

 
July 2, 2016
 
 
April 2, 2016
(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
$
275,694

 
$
—

 
$
—

 
$
275,694

 
 
$
232,698

 
$
—

 
$
—

 
$
232,698

Financial institution


 


 


 


 
 


 


 


 


securities
508,544

 
—

 
—

 
508,544

 
 
284,853

 
—

 
—

 
284,853

Non-financial institution


 


 


 


 
 


 


 


 


securities
584,819

 
1,819

 
(33
)
 
586,605

 
 
564,480

 
862

 
(230
)
 
565,112

Auction rate securities
10,500

 
—

 
(432
)
 
10,068

 
 
10,500

 
—

 
(523
)
 
9,977

Municipal bonds
55,964

 
1,053

 
(80
)
 
56,937

 
 
68,938

 
877

 
(133
)
 
69,682

U.S. government and

 

 

 

 
 

 

 

 

agency securities
97,441

 
55

 
(98
)
 
97,398

 
 
192,291

 
73

 
(71
)
 
192,293

Foreign government and

 

 

 

 
 

 

 

 

agency securities
272,711

 
—

 
(9
)
 
272,702

 
 
313,168

 
—

 
—

 
313,168

Mortgage-backed securities
1,211,457

 
16,330

 
(4,678
)
 
1,223,109

 
 
1,200,071

 
12,848

 
(5,380
)
 
1,207,539

Asset-backed securities
213,753

 
1,508

 
(349
)
 
214,912

 
 
216,068

 
1,151

 
(605
)
 
216,614

Debt mutual funds
101,350

 
—

 
(10,297
)
 
91,053

 
 
101,350

 
—

 
(9,449
)
 
91,901

Bank loans
98,681

 
145

 
(508
)
 
98,318

 
 
102,092

 
25

 
(102
)
 
102,015

Commercial mortgage-
























backed securities
212,184


1,075


(1,606
)

211,653



207,847


432


(1,809
)

206,470

 
$
3,643,098

 
$
21,985

 
$
(18,090
)
 
$
3,646,993

 
 
$
3,494,356

 
$
16,268

 
$
(18,302
)
 
$
3,492,322
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 July 2, 2016 and April 2, 2016:

 
July 2, 2016
 
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
$
9,237

 
$
(32
)
 
$
1,218

 
$
(1
)
 
$
10,455

 
$
(33
)
Auction rate securities
—

 
—

 
10,068

 
(432
)
 
10,068

 
(432
)
Municipal bonds
1,550

 
(9
)
 
2,962

 
(71
)
 
4,512

 
(80
)
U.S. government and

 

 

 

 


 


    agency securities
32,103

 
(98
)
 
—

 
—

 
32,103

 
(98
)
Foreign government and













    agency securities
19,966


(9
)

—


—


19,966


(9
)
Mortgage-backed securities
224,966

 
(2,957
)
 
105,378

 
(1,721
)
 
330,344

 
(4,678
)
Asset-backed securities
44,459


(217
)

9,715


(132
)

54,174


(349
)
Debt mutual fund
—

 
—

 
91,053

 
(10,297
)
 
91,053

 
(10,297
)
Bank loans
50,001

 
(412
)

4,865

 
(96
)
 
54,866

 
(508
)
Commercial mortgage-











backed securities
90,252


(468
)

10,435


(1,138
)

100,687


(1,606
)
 
$
472,534

 
$
(4,202
)
 
$
235,694

 
$
(13,888
)
 
$
708,228

 
$
(18,090
)

 
April 2, 2016
 
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
$
52,756

 
$
(230
)
 
$
—

 
$
—

 
$
52,756

 
$
(230
)
Auction rate securities
—

 
—

 
9,977

 
(523
)
 
9,977

 
(523
)
Municipal bonds
10,138

 
(44
)
 
3,867

 
(89
)
 
14,005

 
(133
)
U.S. government and

 

 

 

 

 

    agency securities
84,024

 
(71
)
 
—

 
—

 
84,024

 
(71
)
Mortgage-backed securities
346,560

 
(3,916
)
 
114,285

 
(1,464
)
 
460,845

 
(5,380
)
Asset-backed securities
81,038

 
(502
)
 
20,793

 
(103
)
 
101,831


(605
)
Debt mutual funds
—

 
—

 
91,901

 
(9,449
)
 
91,901

 
(9,449
)
Bank loans
34,358

 
(31
)
 
42,832

 
(71
)
 
77,190


(102
)
Commercial mortgage-
 
 
 
 
 
 
 
 
 
 
 
    backed securities
141,761

 
(878
)
 
2,150

 
(931
)
 
143,911

 
(1,809
)
 
$
750,635

 
$
(5,672
)
 
$
285,805

 
$
(12,630
)
 
$
1,036,440

 
$
(18,302
)
Amortized cost and estimated fair value of marketable debt securities
 
July 2, 2016
(In thousands)
Amortized
Cost
 
Estimated
Fair Value
Due in one year or less
$
1,288,507

 
$
1,288,548

Due after one year through five years
488,890

 
489,855

Due after five years through ten years
244,043

 
245,600

Due after ten years
1,244,614

 
1,256,243


$
3,266,054

 
$
3,280,246
Information on sale of available-for-sale securities
Certain information related to available-for-sale securities is as follows:

 
Three Months Ended
(In thousands)
July 2, 2016
 
June 27, 2015
Proceeds from sale of available-for-sale securities
$
99,474

 
$
66,041

Gross realized gains on sale of available-for-sale securities
$
721

 
$
359

Gross realized losses on sale of available-for-sale securities
(512
)
 
(129
)
Net realized gains on sale of available-for-sale securities
$
209

 
$
230

Amortization of premiums on available-for-sale securities
$
6,762

 
$
6,468