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Financial Instruments (Tables)
 6 Months Ended
Sep. 30, 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:
 
September 30, 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
$
323,034

 
$
—

 
$
—

 
$
323,034

 
 
$
298,307

 
$
—

 
$
—

 
$
298,307

Financial institution


 


 


 


 
 


 


 


 


securities
580,717

 
—

 
—

 
580,717

 
 
348,797

 
—

 
—

 
348,797

Non-financial institution


 


 


 


 
 


 


 


 


securities
418,879

 
744

 
(277
)
 
419,346

 
 
409,109

 
647

 
(496
)
 
409,260

U.S. government and
—

 

 

 

 
 

 

 

 

agency securities
95,793

 
5

 
(134
)
 
95,664

 
 
130,749

 
8

 
(223
)
 
130,534

Foreign government and
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
agency securities
264,788

 
—

 
—

 
264,788

 
 
322,172

 
—

 
(51
)
 
322,121

Mortgage-backed securities
1,201,005

 
5,409

 
(9,763
)
 
1,196,651

 
 
1,186,732

 
3,527

 
(14,757
)
 
1,175,502

Asset-backed securities
219,255

 
480

 
(478
)
 
219,257

 
 
220,033

 
404

 
(686
)
 
219,751

Debt mutual funds
101,350

 
—

 
(10,860
)
 
90,490

 
 
101,350

 
—

 
(12,674
)
 
88,676

Bank loans
157,510

 
643

 
(254
)
 
157,899

 
 
153,281

 
839

 
(106
)
 
154,014

Commercial mortgage-
























backed securities
247,390


199


(3,572
)

244,017


 
221,504


146


(3,679
)

217,971

 
$
3,609,721

 
$
7,480

 
$
(25,338
)
 
$
3,591,863

 
 
$
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 September 30, 2017 and April 1, 2017:

 
September 30, 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
$
62,033

 
$
(210
)
 
$
5,606

 
$
(67
)
 
$
67,639

 
$
(277
)
U.S. government and

 

 

 

 


 


    agency securities
34,015

 
(125
)
 
5,130

 
(9
)
 
39,145

 
(134
)
Mortgage-backed securities
730,974

 
(6,516
)
 
157,026

 
(3,247
)
 
888,000

 
(9,763
)
Asset-backed securities
135,560

 
(464
)
 
4,757

 
(14
)
 
140,317

 
(478
)
Debt mutual funds
—

 
—

 
90,490

 
(10,860
)
 
90,490

 
(10,860
)
Bank loans
30,107

 
(254
)

—

 
—

 
30,107

 
(254
)
Commercial mortgage-













backed securities
119,843


(893
)

60,028


(2,679
)

179,871


(3,572
)
 
$
1,112,532

 
$
(8,462
)
 
$
323,037

 
$
(16,876
)
 
$
1,435,569

 
$
(25,338
)

 
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
 
September 30, 2017
(In thousands)
Amortized
Cost
 
Estimated
Fair Value
Due in one year or less
$
1,200,344

 
$
1,200,345

Due after one year through five years
469,451

 
467,424

Due after five years through ten years
312,956

 
312,503

Due after ten years
1,202,586

 
1,198,067


$
3,185,337

 
$
3,178,339
Information on sale of available-for-sale securities
Certain information related to available-for-sale securities is as follows:
 
Three Months Ended
 
Six Months Ended
(In thousands)
September 30, 2017
 
October 1, 2016
 
September 30, 2017
 
October 1, 2016
Proceeds from sale of available-for-sale securities
$
149,497

 
$
153,871

 
$
269,419

 
$
253,345

Gross realized gains on sale of available-for-sale securities
$
519

 
$
762

 
$
1,351

 
$
1,427

Gross realized losses on sale of available-for-sale securities
(209
)
 
(92
)
 
(595
)
 
(604
)
Net realized gains on sale of available-for-sale securities
$
310

 
$
670

 
$
756

 
$
823

Amortization of premiums on available-for-sale securities
$
4,691

 
$
7,414

 
$
10,213

 
$
14,175