Fair Value Measurements (Tables)

6 Months Ended

Oct. 01, 2016

Assets and liabilities measured at fair value on a recurring basis

The following tables present information about the Company’s assets and liabilities measured at fair value on a recurring basis as of October 1, 2016 and April 2, 2016:



	October 1, 2016
(In thousands)	Quoted Prices in Active Markets for Identical Instruments (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Total Fair Value
Assets
Cash equivalents:
Money market funds	$	342,151	$	—	$	—	$	342,151
Financial institution securities	—		99,915		—		99,915
Non-financial institution securities	—		119,422		—		119,422
Foreign government and agency securities	—		59,972		—		59,972
Short-term investments:
Financial institution securities	—		504,900		—		504,900
Non-financial institution securities	—		356,263		—		356,263
Municipal bonds	—		48,892		—		48,892
U.S. government and agency securities	23,870		66,169		—		90,039
Foreign government and agency securities	—		64,969		—		64,969
Asset-backed securities	—		206,065		—		206,065
Mortgage-backed securities	—		1,167,370		—		1,167,370
Debt mutual funds	—		33,369		—		33,369
Bank loans	—		111,211		—		111,211
Commercial mortgage-backed securities	—		216,260		—		216,260
Long-term investments:
Auction rate securities	—		—		10,160		10,160
Asset-backed securities	—		5,771		—		5,771
Municipal bonds	—		4,790		—		4,790
Mortgage-backed securities	—		119,246		—		119,246
Debt mutual fund	—		58,578		—		58,578
Derivative financial instruments, net	—		861		—		861
Total assets measured at fair value	$	366,021	$	3,244,023	$	10,160	$	3,620,204



	April 2, 2016
(In thousands)	Quoted Prices in Active Markets for Identical Instruments (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Total Fair Value
Assets
Cash equivalents:
Money market funds	$	232,698	$	—	$	—	$	232,698
Non-financial institution securities	—		104,964		—		104,964
Foreign government and agency securities	—		98,967		—		98,967
Municipal bonds	—		1,003		—		1,003
Short-term investments:
Financial institution securities	—		284,853		—		284,853
Non-financial institution securities	—		460,148		—		460,148
Municipal Bonds	—		61,579		—		61,579
U.S. government and agency securities	81,873		110,420		—		192,293
Foreign government and agency securities	—		214,201		—		214,201
Mortgage-backed securities	—		1,067,157		—		1,067,157
Debt mutual fund	—		35,116		—		35,116
Bank loans	—		102,015		—		102,015
Asset-backed securities	—		210,051		—		210,051
Commercial mortgage-backed securities	—		206,470		—		206,470
Long-term investments:
Auction rate securities	—		—		9,977		9,977
Municipal bonds	—		7,100		—		7,100
Mortgage-backed securities	—		140,382		—		140,382
Debt mutual fund	—		56,785		—		56,785
Asset-backed securities	—		6,563		—		6,563
Derivative financial instruments, net	—		744		—		744
Total assets measured at fair value	$	314,571	$	3,168,518	$	9,977	$	3,493,066

Changes in Level 3 instruments measured at fair value on a recurring basis

The following table is a reconciliation of all assets and liabilities measured at fair value on a recurring basis using significant unobservable inputs (Level 3):



	Three Months Ended				Six Months Ended
(In thousands)	October 1, 2016		September 26, 2015		October 1, 2016		September 26, 2015
Balance as of beginning of period	$	10,068	$	10,409	$	9,977	$	10,312
Total unrealized gains:
Included in other comprehensive income (loss)	92		4		183		101
Balance as of end of period	$	10,160	$	10,413	$	10,160	$	10,413