Our long-term investment consists of our investment in Skypoint Telecom Fund II (US), L.P. ("Skypoint Fund"). Skypoint Fund is a venture capital fund that invests primarily in private companies in the telecommunications and/or networking industries. We account for this non-marketable equity investment under the cost method. We periodically review and determine whether the investment is other-than-temporarily impaired, in which case the investment is written down to its impaired value.

As of October 2, 2011 and March 27, 2011, our long-term investment balance, which is included in the "Other non-current assets" line item on the condensed consolidated balance sheet, was as follows (in thousands):


Long-term investment	October 2, 2011		March 27, 2011
Skypoint Fund	$	1,677	$	1,563

We have made approximately $4.8 million in capital contributions to Skypoint Fund since we became a limited partner in July 2001. We contributed $114,000 to the fund during the six months ended October 2, 2011. Any remaining capital commitment to the Skypoint Fund lapsed on July 27, 2011. In the three months ended October 2, 2011, the limited partners of the Skypoint Fund agreed to extend the term of the Skypoint Fund for one additional year.

The carrying amount of $1.7 million is net of capital contributions, cumulative impairment charges and capital distributions.

We analyzed the fair value of the underlying investments of Skypoint Fund and concluded that there was no other-than-temporary impairment, and therefore we did not record an impairment charge for Skypoint Fund in either the six months ended October 2, 2011 or September 26, 2010, respectively.