Fair Value Measurements (Tables)

3 Months Ended

Jun. 27, 2020

Fair Value Disclosures [Abstract]

Assets and liabilities measured at fair value on a recurring basis

The following tables present information about the Company’s assets and liabilities measured at fair value on a recurring basis as of June 27, 2020 and March 28, 2020:

	June 27, 2020
(In thousands)	(Level 1)		(Level 2)		(Level 3)		Total Fair Value
Assets
Cash equivalents:
Money market funds	$	567,333	$	—	$	—	$	567,333
Financial institution securities	—		224,980		—		224,980
Non-financial institution securities	—		142,881		—		142,881
U.S. government and agency securities	24,998		6,799		—		31,797
Foreign government and agency securities	—		159,983		—		159,983
Short-term investments:
Financial institution securities	—		300,000		—		300,000
Non-financial institution securities	—		362,582		—		362,582
U.S. government and agency securities	409,742		107,959		—		517,701
Foreign government and agency securities	—		435,039		—		435,039
Mortgage-backed securities	—		110,894		—		110,894
Asset-backed securities	—		884		—		884
Commercial mortgage-backed securities	—		44,859		—		44,859
Derivative financial instruments, net	—		1,557		—		1,557
Total assets measured at fair value	$	1,002,073	$	1,898,417	$	—	$	2,900,490

	March 28, 2020
(In thousands)	(Level 1)		(Level 2)		(Level 3)		Total Fair Value
Assets
Cash equivalents:
Money market funds	$	656,038	$	—	$	—	$	656,038
Financial institution securities	—		175,000		—		175,000
Non-financial institution securities	—		361,692		—		361,692
U.S. government and agency securities	150,999		62,274		—		213,273
Foreign government and agency securities	—		244,300		—		244,300
Short-term investments:
Financial institution securities	—		150,000		—		150,000
Non-financial institution securities	—		115,043		—		115,043
U.S. government and agency securities	1,000		2,000		—		3,000
Foreign government and agency securities	—		9,973		—		9,973
Mortgage-backed securities	—		158,804		—		158,804
Asset-backed securities	—		2,549		—		2,549
Commercial mortgage-backed securities	—		50,144		—		50,144
Total assets measured at fair value	$	808,037	$	1,331,779	$	—	$	2,139,816
Liabilities
Derivative financial instruments, net	$	—	$	12,381	$	—	$	12,381
Total liabilities measured at fair value	$	—	$	12,381	$	—	$	12,381
Net assets measured at fair value	$	808,037	$	1,319,398	$	—	$	2,127,435