XML 42 R30.htm IDEA: XBRL DOCUMENT v3.19.3
Financial Instruments (Tables)
 6 Months Ended
Sep. 28, 2019
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 28, 2019
 
 
March 30, 2019
(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
$
648,128

 
$
—

 
$
—

 
$
648,128

 
 
$
428,150

 
$
—

 
$
—

 
$
428,150

Financial institution


 


 


 


 
 


 


 


 


securities
430,479

 
—

 
—

 
430,479

 
 
537,795

 
—

 
—

 
537,795

Non-financial institution


 


 


 


 
 


 


 


 


securities
274,264

 
10

 
(60
)
 
274,214

 
 
702,483

 
3

 
(562
)
 
701,924

U.S. government and

 

 

 

 
 

 

 

 

agency securities
204,866

 
30

 
(23
)
 
204,873

 
 
334,185

 
39

 
(139
)
 
334,085

Foreign government and

 

 

 

 
 

 

 

 

agency securities
229,608

 
—

 
—

 
229,608

 
 
214,455

 
—

 
—

 
214,455

Mortgage-backed securities
448,154

 
1,567

 
(3,418
)
 
446,303

 
 
684,596

 
809

 
(14,635
)
 
670,770

Asset-backed securities
26,388

 
18

 
(46
)
 
26,360

 
 
76,852

 
—

 
(483
)
 
76,369

Commercial mortgage-


 


 


 


 
 


 


 


 


backed securities
73,691

 
41

 
(439
)
 
73,293

 
 
118,115

 
42

 
(1,618
)
 
116,539

 
$
2,335,578

 
$
1,666

 
$
(3,986
)
 
$
2,333,258

 
 
$
3,096,631

 
$
893

 
$
(17,437
)
 
$
3,080,087
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 28, 2019 and March 30, 2019:

 
September 28, 2019
 
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
$
3,705

 
$
(10
)
 
$
4,184

 
$
(50
)
 
$
7,889

 
$
(60
)
U.S. government and

 

 

 

 


 


    agency securities
9,981

 
(2
)
 
13,127

 
(21
)
 
23,108

 
(23
)
Mortgage-backed securities
76,433

 
(277
)
 
236,370

 
(3,141
)
 
312,803

 
(3,418
)
Asset-backed securities
3,180

 
(4
)
 
18,583

 
(42
)
 
21,763

 
(46
)
Commercial mortgage-

 

 

 

 
 
 
 
backed securities
11,879

 
(24
)
 
45,714

 
(415
)
 
57,593

 
(439
)
 
$
105,178

 
$
(317
)
 
$
317,978

 
$
(3,669
)
 
$
423,156

 
$
(3,986
)

 
March 30, 2019
 
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
$
4,767

 
$
(4
)
 
$
51,044

 
$
(558
)
 
$
55,811

 
$
(562
)
U.S. government and

 

 

 

 

 

    agency securities
—

 
—

 
13,542

 
(139
)
 
13,542

 
(139
)
Mortgage-backed securities
34,595

 
(480
)
 
597,394

 
(14,155
)
 
631,989

 
(14,635
)
Asset-backed securities
—

 
—

 
76,103

 
(483
)
 
76,103


(483
)
Commercial mortgage-
 
 
 
 
 
 
 
 
 
 
 
    backed securities
1,354

 
(3
)
 
112,294

 
(1,615
)
 
113,648

 
(1,618
)
 
$
40,716

 
$
(487
)
 
$
850,377

 
$
(16,950
)
 
$
891,093

 
$
(17,437
)
Amortized cost and estimated fair value of marketable debt securities
 
September 28, 2019
(In thousands)
Amortized
Cost
 
Estimated
Fair Value
Due in one year or less
$
1,134,474

 
$
1,134,470

Due after one year through five years
50,267

 
50,118

Due after five years through ten years
100,199

 
100,173

Due after ten years
402,510

 
400,369


$
1,687,450

 
$
1,685,130
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 28, 2019
 
September 29, 2018
 
September 28, 2019
 
September 29, 2018
Proceeds from sale of available-for-sale securities
$
143,529

 
$
7

 
$
299,623

 
$
903

Gross realized gains on sale of available-for-sale securities
$
607

 
$
—

 
$
1,212

 
$
96

Gross realized losses on sale of available-for-sale securities
(133
)
 
(1
)
 
(172
)
 
(48
)
Net realized gains (losses) on sale of available-for-sale securities
$
474

 
$
(1
)
 
$
1,040

 
$
48

Amortization of premiums on available-for-sale securities
$
1,636

 
$
2,645

 
$
2,347

 
$
5,136