Summary of Significant Accounting Policies and Concentrations of Risk (Tables)

12 Months Ended

Mar. 31, 2018

Inventories are stated at the lower of actual cost (determined using the first-in, first-out method), or market (estimated net realizable value) and are comprised of the following:



(In thousands)	March 31, 2018		April 1, 2017
Raw materials	$	14,674	$	14,517
Work-in-process	167,039		161,120
Finished goods	54,364		51,396
	$	236,077	$	227,033

Schedule of New Accounting Pronouncements and Changes in Accounting Principles

The impact of this new guidance to the Company's fiscal 2018 and 2017 consolidated financial statements is expected as follows:



	March 31, 2018				April 1, 2017
(In thousands, except per share amounts)	As Reported		As Adjusted		As Reported		As Adjusted
Consolidated Statements of Income:
Net revenues	$	2,539,004	$	2,467,023	$	2,349,330	$	2,356,742
Cost of revenues	756,368		743,419		708,216		708,632
Gross margin	1,782,636		1,723,604		1,641,114		1,648,110
Operating income	745,054		686,022		699,394		706,390
Net income	512,381		463,981		622,512		628,133
Net income per common share:
Basic	$	2.05	$	1.86	$	2.47	$	2.49
Diluted	$	1.99	$	1.80	$	2.32	$	2.34

Consolidated Balance Sheets:
Accounts receivable	$	372,144	$	382,246	$	243,915	$	283,850
Other assets	342,644		337,402		275,440		272,407
Deferred income on shipments to distributors	25,166		—		54,567		—
Other accrued liabilities	59,772		59,680		95,098		95,209
Deferred tax liabilities	75		75		317,639		330,479
Retained earnings	1,483,538		1,513,656		1,726,312		1,804,830