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Financial Instruments (Tables)
 3 Months Ended
Jul. 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:

 
July 1, 2017
 
 
April 1, 2017
(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
$
379,788

 
$
—

 
$
—

 
$
379,788

 
 
$
298,307

 
$
—

 
$
—

 
$
298,307

Financial institution


 


 


 


 
 


 


 


 


securities
424,586

 
—

 
—

 
424,586

 
 
348,797

 
—

 
—

 
348,797

Non-financial institution


 


 


 


 
 


 


 


 


securities
433,609

 
700

 
(335
)
 
433,974

 
 
409,109

 
647

 
(496
)
 
409,260

U.S. government and

 

 

 

 
 

 

 

 

agency securities
157,433

 
4

 
(182
)
 
157,255

 
 
130,749

 
8

 
(223
)
 
130,534

Foreign government and

 

 

 

 
 

 

 

 

agency securities
394,121

 
3

 
—

 
394,124

 
 
322,172

 
—

 
(51
)
 
322,121

Mortgage-backed securities
1,194,714

 
5,407

 
(10,549
)
 
1,189,572

 
 
1,186,732

 
3,527

 
(14,757
)
 
1,175,502

Asset-backed securities
222,552

 
589

 
(441
)
 
222,700

 
 
220,033

 
404

 
(686
)
 
219,751

Debt mutual funds
101,350

 
—

 
(11,453
)
 
89,897

 
 
101,350

 
—

 
(12,674
)
 
88,676

Bank loans
164,300

 
604

 
(160
)
 
164,744

 
 
153,281

 
839

 
(106
)
 
154,014

Commercial mortgage-
























backed securities
233,242


246


(3,293
)

230,195



221,504


146


(3,679
)

217,971

 
$
3,705,695

 
$
7,553

 
$
(26,413
)
 
$
3,686,835

 
 
$
3,392,034

 
$
5,571

 
$
(32,672
)
 
$
3,364,933
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 1, 2017 and April 1, 2017:

 
July 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
$
73,844

 
$
(334
)
 
$
1,018

 
$
(1
)
 
$
74,862

 
$
(335
)
U.S. government and

 

 

 

 


 


    agency securities
53,539

 
(178
)
 
4,596

 
(4
)
 
58,135

 
(182
)
Mortgage-backed securities
809,678

 
(9,098
)
 
95,890

 
(1,451
)
 
905,568

 
(10,549
)
Asset-backed securities
125,635


(418
)

5,858


(23
)

131,493


(441
)
Debt mutual fund
—

 
—

 
89,897

 
(11,453
)
 
89,897

 
(11,453
)
Bank loans
35,556

 
(160
)

—

 
—

 
35,556

 
(160
)
Commercial mortgage-











backed securities
150,751


(1,216
)

24,435


(2,077
)

175,186


(3,293
)
 
$
1,249,003

 
$
(11,404
)
 
$
221,694

 
$
(15,009
)
 
$
1,470,697

 
$
(26,413
)

 
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
)
Amortized cost and estimated fair value of marketable debt securities
 
July 1, 2017
(In thousands)
Amortized
Cost
 
Estimated
Fair Value
Due in one year or less
$
1,224,751

 
$
1,224,739

Due after one year through five years
477,162

 
475,193

Due after five years through ten years
319,892

 
319,444

Due after ten years
1,202,752

 
1,197,774


$
3,224,557

 
$
3,217,150
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 1, 2017
 
July 2, 2016
Proceeds from sale of available-for-sale securities
$
119,922

 
$
99,474

Gross realized gains on sale of available-for-sale securities
$
832

 
$
721

Gross realized losses on sale of available-for-sale securities
(386
)
 
(512
)
Net realized gains on sale of available-for-sale securities
$
446

 
$
209

Amortization of premiums on available-for-sale securities
$
5,522

 
$
6,762