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Financial Instruments (Tables)
 9 Months Ended
Dec. 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:
 
December 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
$
279,946

 
$
—

 
$
—

 
$
279,946

 
 
$
298,307

 
$
—

 
$
—

 
$
298,307

Financial institution


 


 


 


 
 


 


 


 


securities
499,996

 
—

 
—

 
499,996

 
 
348,797

 
—

 
—

 
348,797

Non-financial institution


 


 


 


 
 


 


 


 


securities
395,795

 
259

 
(790
)
 
395,264

 
 
409,109

 
647

 
(496
)
 
409,260

U.S. government and

 

 

 

 
 

 

 

 

agency securities
198,416

 
13

 
(226
)
 
198,203

 
 
130,749

 
8

 
(223
)
 
130,534

Foreign government and
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
agency securities
300,776

 
—

 
—

 
300,776

 
 
322,172

 
—

 
(51
)
 
322,121

Mortgage-backed securities
1,193,776

 
3,874

 
(15,324
)
 
1,182,326

 
 
1,186,732

 
3,527

 
(14,757
)
 
1,175,502

Asset-backed securities
224,276

 
346

 
(1,007
)
 
223,615

 
 
220,033

 
404

 
(686
)
 
219,751

Debt mutual funds
101,350

 
—

 
(11,439
)
 
89,911

 
 
101,350

 
—

 
(12,674
)
 
88,676

Bank loans
163,230

 
631

 
(188
)
 
163,673

 
 
153,281

 
839

 
(106
)
 
154,014

Commercial mortgage-











 
 











backed securities
241,539


68


(2,534
)

239,073

 
 
221,504


146


(3,679
)

217,971

Equity securities
7,500


—


(1,564
)

5,936

 
 
—

 
—

 
—

 
—

 
$
3,606,600

 
$
5,191

 
$
(33,072
)
 
$
3,578,719

 
 
$
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 December 30, 2017 and April 1, 2017:

 
December 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
$
123,647

 
$
(580
)
 
$
15,312

 
$
(210
)
 
$
138,959

 
$
(790
)
U.S. government and

 

 

 

 


 


    agency securities
36,918

 
(164
)
 
7,076

 
(62
)
 
43,994

 
(226
)
Mortgage-backed securities
644,939

 
(6,632
)
 
352,193

 
(8,692
)
 
997,132

 
(15,324
)
Asset-backed securities
136,281

 
(596
)
 
48,739

 
(411
)
 
185,020

 
(1,007
)
Debt mutual funds
—

 
—

 
89,911

 
(11,439
)
 
89,911

 
(11,439
)
Bank loans
29,161

 
(183
)

500

 
(5
)
 
29,661

 
(188
)
Commercial mortgage-













backed securities
134,826


(1,111
)

80,826


(1,423
)

215,652


(2,534
)
Equity securities
5,936


(1,564
)

—

 
—


5,936


(1,564
)
 
$
1,111,708

 
$
(10,830
)
 
$
594,557

 
$
(22,242
)
 
$
1,706,265

 
$
(33,072
)

 
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
 
December 30, 2017
(In thousands)
Amortized
Cost
 
Estimated
Fair Value
Due in one year or less
$
1,215,851

 
$
1,215,796

Due after one year through five years
477,119

 
475,244

Due after five years through ten years
328,437

 
326,893

Due after ten years
1,196,397

 
1,184,993


$
3,217,804

 
$
3,202,926
Information on sale of available-for-sale securities
Certain information related to available-for-sale securities is as follows:
 
Three Months Ended
 
Nine Months Ended
(In thousands)
December 30, 2017
 
December 31, 2016
 
December 30, 2017
 
December 31, 2016
Proceeds from sale of available-for-sale securities
$
124,857

 
$
130,891

 
$
394,276

 
$
384,236

Gross realized gains on sale of available-for-sale securities
$
153

 
$
624

 
$
1,504

 
$
2,051

Gross realized losses on sale of available-for-sale securities
(2,267
)
 
(679
)
 
(2,862
)
 
(1,280
)
Net realized gains (losses) on sale of available-for-sale securities
$
(2,114
)
 
$
(55
)
 
$
(1,358
)
 
$
771

Amortization of premiums on available-for-sale securities
$
4,225

 
$
8,034

 
$
14,437

 
$
22,209