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Impairment Loss on Investments
12 Months Ended
Apr. 02, 2011
Impairment Loss on Investments [Abstract]  
Impairment Loss on Investments
Note 9. Impairment Loss on Investments
The Company recorded an impairment loss on investments in non-marketable equity securities of $5.9 million and $3.8 million for fiscal 2011 and 2010, respectively, due to other-than-temporary decline in the estimated fair value of certain investees and other relevant considerations.
The Company recognized impairment losses on investments of $54.1 million during fiscal 2009, which consisted of $51.1 million related to marketable debt and equity securities and $3.0 million related to non-marketable equity securities. Of the $51.1 million impairment loss recognized during fiscal 2009, $38.0 million was related to senior class asset-backed securities where the issuer went into receivership and the Company concluded that it was not likely that the Company would recover the balance of our investment. This decline in fair value was deemed to be other than temporary and, therefore, the Company recognized an impairment loss of $38.0 million on these securities during fiscal 2009. The Company also recognized an additional impairment loss of $10.0 million on marketable debt securities, primarily due to the bankruptcy filing by one of the issuers of the marketable debt securities. Lastly, the Company recognized another $3.1 million of impairment loss in marketable equity securities investment during fiscal 2009 as a result of the continued decline in its market value, which led the Company to believe that the decline in the market value was other than temporary.