Fair Value Measurements (Tables)

3 Months Ended

Jul. 01, 2017

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 July 1, 2017 and April 1, 2017:



	July 1, 2017
(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	$	379,788	$	—	$	—	$	379,788
Financial institution securities	—		124,968		—		124,968
Non-financial institution securities	—		232,666		—		232,666
U.S. government and agency securities	24,995		64,466		—		89,461
Foreign government and agency securities	—		164,883				164,883
Short-term investments:
Financial institution securities	—		299,618		—		299,618
Non-financial institution securities	—		201,308		—		201,308
U.S. government and agency securities	26,311		41,483		—		67,794
Foreign government and agency securities	—		229,241		—		229,241
Mortgage-backed securities	—		1,139,975		—		1,139,975
Debt mutual funds	—		34,107		—		34,107
Bank loans	—		164,744		—		164,744
Asset-backed securities	—		221,225		—		221,225
Commercial mortgage-backed securities	—		230,195		—		230,195
Long-term investments:
Mortgage-backed securities	—		49,597		—		49,597
Debt mutual fund	—		55,790		—		55,790
Asset-backed securities	—		1,475		—		1,475
Total assets measured at fair value	$	431,094	$	3,255,741	$	—	$	3,686,835
Liabilities
Derivative financial instruments, net	$	—	$	501	$	—	$	501
Total liabilities measured at fair value	$	—	$	501	$	—	$	501
Net assets measured at fair value	$	431,094	$	3,255,240	$	—	$	3,686,334



	April 1, 2017
(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	$	298,307	$	—	$	—	$	298,307
Financial institution securities	—		158,962		—		158,962
Non-financial institution securities	—		205,322		—		205,322
U.S. government and agency securities	2,998		50,984		—		53,982
Foreign government and agency securities	—		177,310		—		177,310
Short-term investments:
Financial institution securities	—		189,835		—		189,835
Non-financial institution securities	—		203,938		—		203,938
U.S. government and agency securities	31,732		44,820		—		76,552
Foreign government and agency securities	—		144,811		—		144,811
Mortgage-backed securities	—		1,115,403		—		1,115,403
Debt mutual fund	—		34,068		—		34,068
Bank loans	—		154,014		—		154,014
Asset-backed securities	—		218,170		—		218,170
Commercial mortgage-backed securities	—		217,971		—		217,971
Long-term investments:
Mortgage-backed securities	—		60,099		—		60,099
Debt mutual fund	—		54,608		—		54,608
Asset-backed securities	—		1,581		—		1,581
Derivative financial instruments, net	—		1,661		—		1,661
Total assets measured at fair value	$	333,037	$	3,033,557	$	—	$	3,366,594

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
(In thousands)	July 1, 2017		July 2, 2016
Balance as of beginning of period	$	—	$	9,977
Total realized and unrealized gains (losses):
Included in other comprehensive income	—		91
Balance as of end of period	$	—	$	10,068