XML 124 R34.htm IDEA: XBRL DOCUMENT v3.20.1
Financial Instruments (Tables)
 12 Months Ended
Mar. 28, 2020
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:

March 28, 2020
 
 
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
$
656,038

 
$
—

 
$
—

 
$
656,038

 
 
$
428,150

 
$
—

 
$
—

 
$
428,150

Financial institution


 


 


 


 
 


 


 


 


securities
325,000

 
—

 
—

 
325,000

 
 
537,795

 
—

 
—

 
537,795

Non-financial institution


 


 


 


 
 


 


 


 


securities
476,735

 
—

 
—

 
476,735

 
 
702,483

 
3

 
(562
)
 
701,924

U.S. government and
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
agency securities
216,178

 
95

 
—

 
216,273

 
 
334,185

 
39

 
(139
)
 
334,085

Foreign government and


 

 

 

 
 


 

 

 

agency securities
254,283

 
7

 
(17
)
 
254,273

 
 
214,455

 
—

 
—

 
214,455

Mortgage-backed securities
156,836

 
2,445

 
(477
)
 
158,804

 
 
684,596

 
809

 
(14,635
)
 
670,770

Asset-backed securities
2,533

 
18

 
(2
)
 
2,549

 
 
76,852

 
—

 
(483
)
 
76,369

Commercial mortgage-


 


 


 


 
 


 


 


 


    backed securities
50,566

 
134

 
(556
)
 
50,144

 
 
118,115

 
42

 
(1,618
)
 
116,539


$
2,138,169

 
$
2,699

 
$
(1,052
)
 
$
2,139,816

 
 
$
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 March 28, 2020 and March 30, 2019:


March 28, 2020

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
Mortgage-backed securities
$
13,492


$
(88
)

$
31,819


$
(389
)

$
45,311


$
(477
)
Asset-backed securities
1,641

 
(2
)
 
—

 
—

 
1,641

 
(2
)
Foreign government and
 
 
 
 
 
 
 
 
 
 
 
    agency securities
30,998

 
(17
)
 
—

 
—

 
30,998

 
(17
)
Commercial mortgage-
 
 
 
 
 
 
 
 
 
 
 
    backed securities
30,593

 
(282
)
 
2,589

 
(274
)
 
33,182

 
(556
)

$
76,724


$
(389
)

$
34,408


$
(663
)

$
111,132


$
(1,052
)


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
 
March 28, 2020
(In thousands)
Amortized
Cost

Estimated
Fair Value
Due in one year or less
$
1,274,196


$
1,274,283

Due after one year through five years
7,628


7,670

Due after five years through ten years
31,432


32,369

Due after ten years
168,875


169,456


$
1,482,131


$
1,483,778
Information on sale of available-for-sale securities
Certain information related to available-for-sale securities is as follows:
 
Years Ended
(In thousands)
March 28, 2020

March 30, 2019

March 31, 2018
Proceeds from sale of available-for-sale and equity securities
$
670,604


$
35,734


$
1,161,410

Gross realized gains on sale of available-for-sale securities
$
3,349


$
372

 
$
7,258

Gross realized losses on sale of available-for-sale securities
(216
)

(51
)
 
(7,947
)
Net realized gains (losses) on sale of available-for-sale securities
$
3,133


$
321

 
$
(689
)
Amortization of premiums on available-for-sale securities
$
3,551


$
8,118

 
$
24,569