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Financial Instruments (Tables)
 3 Months Ended
Jun. 30, 2018
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:

 
June 30, 2018
 
 
March 31, 2018
(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
$
458,706

 
$
—

 
$
—

 
$
458,706

 
 
$
1,291,891

 
$
—

 
$
—

 
$
1,291,891

Financial institution


 


 


 


 
 


 


 


 


securities
599,832

 
—

 
—

 
599,832

 
 
434,901

 
—

 
—

 
434,901

Non-financial institution


 


 


 


 
 


 


 


 


securities
615,958

 
1

 
(1,413
)
 
614,546

 
 
326,219

 
—

 
(1,376
)
 
324,843

U.S. government and

 

 

 

 
 

 

 

 

agency securities
421,679

 
9

 
(327
)
 
421,361

 
 
58,913

 
1

 
(272
)
 
58,642

Foreign government and

 

 

 

 
 

 

 

 

agency securities
174,405

 
—

 
—

 
174,405

 
 
179,957

 
—

 
—

 
179,957

Mortgage-backed securities
820,305

 
580

 
(23,932
)
 
796,953

 
 
866,048

 
660

 
(22,311
)
 
844,397

Asset-backed securities
90,426

 
12

 
(1,410
)
 
89,028

 
 
92,751

 
16

 
(1,378
)
 
91,389

Debt mutual funds
101,350

 
—

 
(15,717
)
 
85,633

 
 
101,350

 
—

 
(11,680
)
 
89,670

Commercial mortgage-


 


 


 


 
 


 


 


 


backed securities
146,984

 
—

 
(3,595
)
 
143,389

 
 
156,296

 
1

 
(3,427
)
 
152,870

Marketable equity securities
7,500

 
—

 
(1,433
)
 
6,067

 
 
7,500

 
726

 
—

 
8,226

 
$
3,437,145

 
$
602

 
$
(47,827
)
 
$
3,389,920

 
 
$
3,515,826

 
$
1,404

 
$
(40,444
)
 
$
3,476,786
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 June 30, 2018 and March 31, 2018:

 
June 30, 2018
 
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
$
57,501

 
$
(1,193
)
 
$
7,910

 
$
(220
)
 
$
65,411

 
$
(1,413
)
U.S. government and

 

 

 

 


 


    agency securities
52,351

 
(224
)
 
4,586

 
(103
)
 
56,937

 
(327
)
Mortgage-backed securities
424,784

 
(10,639
)
 
340,733

 
(13,293
)
 
765,517

 
(23,932
)
Asset-backed securities
53,832

 
(944
)
 
33,333

 
(466
)
 
87,165

 
(1,410
)
Debt mutual funds
—

 
—

 
85,633

 
(15,717
)
 
85,633

 
(15,717
)
Commercial mortgage-

 

 

 

 
 
 
 
backed securities
84,596

 
(1,830
)
 
57,875

 
(1,765
)
 
142,471

 
(3,595
)
Marketable equity securities
6,067

 
(1,433
)
 
—

 
—

 
6,067

 
(1,433
)
 
$
679,131

 
$
(16,263
)
 
$
530,070

 
$
(31,564
)
 
$
1,209,201

 
$
(47,827
)

 
March 31, 2018
 
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
$
69,780

 
$
(1,146
)
 
$
8,344

 
$
(230
)
 
$
78,124

 
$
(1,376
)
U.S. government and

 

 

 

 

 

    agency securities
13,471

 
(176
)
 
9,176

 
(96
)
 
22,647

 
(272
)
Mortgage-backed securities
510,988

 
(11,048
)
 
299,663

 
(11,263
)
 
810,651

 
(22,311
)
Asset-backed securities
57,128

 
(876
)
 
32,696

 
(502
)
 
89,824


(1,378
)
Debt mutual funds
—

 
—

 
89,670

 
(11,680
)
 
89,670

 
(11,680
)
Commercial mortgage-
 
 
 
 
 
 
 
 
 
 
 
    backed securities
95,435

 
(1,760
)
 
56,051

 
(1,667
)
 
151,486

 
(3,427
)
 
$
746,802

 
$
(15,006
)
 
$
495,600

 
$
(25,438
)
 
$
1,242,402

 
$
(40,444
)
Amortized cost and estimated fair value of marketable debt securities
 
June 30, 2018
(In thousands)
Amortized
Cost
 
Estimated
Fair Value
Due in one year or less
$
1,758,865

 
$
1,758,593

Due after one year through five years
176,391

 
172,941

Due after five years through ten years
148,349

 
143,894

Due after ten years
785,984

 
764,086


$
2,869,589

 
$
2,839,514
Information on sale of available-for-sale securities
Certain information related to available-for-sale securities is as follows:

 
Three Months Ended
(In thousands)
June 30, 2018
 
July 1, 2017
Proceeds from sale of available-for-sale securities
$
895

 
$
119,922

Gross realized gains on sale of available-for-sale securities
$
96

 
$
832

Gross realized losses on sale of available-for-sale securities
(47
)
 
(386
)
Net realized gains on sale of available-for-sale securities
$
49

 
$
446

Amortization of premiums on available-for-sale securities
$
2,491

 
$
6,823