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Financial Instruments (Tables)
 12 Months Ended
Apr. 01, 2017
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:

April 1, 2017
 
 
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
$
298,307

 
$
—

 
$
—

 
$
298,307

 
 
$
232,698

 
$
—

 
$
—

 
$
232,698

Financial institution


 


 


 


 
 


 


 


 


securities
348,797

 
—

 
—

 
348,797

 
 
284,853

 
—

 
—

 
284,853

Non-financial institution


 


 


 


 
 


 


 


 


securities
409,109

 
647

 
(496
)
 
409,260

 
 
564,480

 
862

 
(230
)
 
565,112

Auction rate securities
—

 
—

 
—

 
—

 
 
10,500

 
—

 
(523
)
 
9,977

Municipal bonds
—

 
—

 
—

 
—

 
 
68,938

 
877

 
(133
)
 
69,682

U.S. government and

 

 

 

 
 

 

 

 

agency securities
130,749

 
8

 
(223
)
 
130,534

 
 
192,291

 
73

 
(71
)
 
192,293

Foreign government and

 

 

 

 
 

 

 

 

agency securities
322,172

 
—

 
(51
)
 
322,121

 
 
313,168

 
—

 
—

 
313,168

Mortgage-backed securities
1,186,732

 
3,527

 
(14,757
)
 
1,175,502

 
 
1,200,071

 
12,848

 
(5,380
)
 
1,207,539

Asset-backed securities
220,033

 
404

 
(686
)
 
219,751

 
 
216,068

 
1,151

 
(605
)
 
216,614

Debt mutual funds
101,350

 
—

 
(12,674
)
 
88,676

 
 
101,350

 
—

 
(9,449
)
 
91,901

Bank loans
153,281

 
839

 
(106
)
 
154,014

 
 
102,092

 
25

 
(102
)
 
102,015

Commercial mortgage-
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
    backed securities
221,504

 
146

 
(3,679
)
 
217,971

 
 
207,847

 
432

 
(1,809
)
 
206,470


$
3,392,034

 
$
5,571

 
$
(32,672
)
 
$
3,364,933

 
 
$
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 April 1, 2017 and April 2, 2016:


April 1, 2017

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
$
68,850


$
(492
)

$
1,022


$
(4
)

$
69,872


$
(496
)
U.S. government and













    agency securities
64,895


(223
)

—


—


64,895


(223
)
Mortgage-backed securities
811,058


(11,872
)

139,931


(2,885
)

950,989


(14,757
)
Asset-backed securities
119,845

 
(651
)
 
4,689

 
(35
)
 
124,534

 
(686
)
Debt mutual funds
—


—


88,676


(12,674
)

88,676


(12,674
)
Bank loans
15,139

 
(106
)
 
—

 
—

 
15,139

 
(106
)
Foreign government and
 
 
 
 
 
 
 
 
 
 
 
    agency securities
64,857

 
(51
)
 
—

 
—

 
64,857

 
(51
)
Commercial mortgage-
 
 
 
 
 
 
 
 
 
 
 
    backed securities
165,393

 
(1,706
)
 
24,362

 
(1,973
)
 
189,755

 
(3,679
)

$
1,310,037


$
(15,101
)

$
258,680


$
(17,571
)

$
1,568,717


$
(32,672
)


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
 
April 1, 2017
(In thousands)
Amortized
Cost

Estimated
Fair Value
Due in one year or less
$
1,007,551


$
1,007,487

Due after one year through five years
491,907


489,627

Due after five years through ten years
293,184


292,691

Due after ten years
1,199,735


1,188,145


$
2,992,377


$
2,977,950
Information on sale of available-for-sale securities
Certain information related to available-for-sale securities is as follows:
 
Year Ended
(In thousands)
April 1, 2017

April 2, 2016

March 28, 2015
Proceeds from sale of available-for-sale securities
$
695,030


$
268,887


$
1,617,658

Gross realized gains on sale of available-for-sale securities
$
6,989


$
1,248

 
$
15,101

Gross realized losses on sale of available-for-sale securities
(3,457
)

(878
)
 
(3,223
)
Net realized gains on sale of available-for-sale securities
$
3,532


$
370

 
$
11,878

Amortization of premiums on available-for-sale securities
$
29,360


$
26,613

 
$
23,579