Cash, Cash Equivalents and Short-Term Marketable Securities (Tables)

3 Months Ended

Jul. 01, 2012

Cash, Cash Equivalents and Short-Term Marketable Securities [Abstract]

Investment assets, measured at fair value on recurring basis

Our investment assets, measured at fair value on a recurring basis, as of the dates indicated below were as follows (in thousands, except for percentages):

	July 1, 2012
	Level 1		Level 2		Total
Assets:
Money market funds	$	6,222	$	—	$	6,222	3	%
U.S. government and agency securities		17,751		29,519		47,270	25	%
Corporate bonds and notes		—		67,009		67,009	35	%
Asset-backed securities		—		27,433		27,433	14	%
Mortgage-backed securities		—		43,176		43,176	23	%
Total investment assets	$	23,973	$	167,137	$	191,110	100	%

	April 1, 2012
	Level 1		Level 2		Total
Assets:
Money market funds	$	3,088	$	—	$	3,088	2	%
U.S. government and agency securities		16,282		28,544		44,826	23	%
Corporate bonds and notes		—		69,234		69,234	36	%
Asset-backed securities		—		26,364		26,364	14	%
Mortgage-backed securities		—		47,244		47,244	25	%
Total investment assets	$	19,370	$	171,386	$	190,756	100	%

Cash, cash equivalents and short-term marketable securities

Our cash, cash equivalents and short-term marketable securities as of the dates indicated below were as follows (in thousands):

	July 1, 2012		April 1, 2012
Cash and cash equivalents
Cash at financial institutions	$	4,003	$	5,626
Cash equivalents
Money market funds		6,222		3,088
Total cash and cash equivalents	$	10,225	$	8,714
Available-for-sale securities
U.S. government and agency securities	$	47,270	$	44,826
Corporate bonds and notes		67,009		69,234
Asset-backed securities		27,433		26,364
Mortgage-backed securities		43,176		47,244
Total short-term marketable securities	$	184,888	$	187,668

Net realized gains (losses) on marketable securities

Our net realized gains (losses) on marketable securities for the periods indicated below were as follows (in thousands):

	Three Months Ended
	July 1, 2012			July 3, 2011
Gross realized gains	$	240		$	170
Gross realized losses		(278	)		(214	)
Net realized losses	$	(38	)	$	(44	)

Investments in marketable securities

The following table summarizes our investments in marketable securities as of the dates indicated below, (in thousands):

	July 1, 2012
			Unrealized
	Amortized Cost		Gross Gains  (1)		Gross Losses  (1)			Net Gain (Loss)  (1)		Fair Value
Money market funds	$	6,222	$	—	$	—		$	—	$	6,222
U.S. government and agency securities		47,160		115		(5	)		110		47,270
Corporate bonds and notes		66,814		274		(79	)		195		67,009
Asset-backed securities		27,394		68		(29	)		39		27,433
Mortgage-backed securities		43,173		215		(212	)		3		43,176
Total investments	$	190,763	$	672	$	(325	)	$	347	$	191,110

	April 1, 2012
			Unrealized
	Amortized Cost		Gross Gains  (1)		Gross Losses  (1)			Net Gain (Loss)  (1)		Fair Value
Money market funds	$	3,088	$	—	$	—		$	—	$	3,088
U.S. government and agency securities		44,687		189		(50	)		139		44,826
Corporate bonds and notes		68,857		410		(33	)		377		69,234
Asset-backed securities		26,353		55		(44	)		11		26,364
Mortgage-backed securities		47,117		286		(159	)		127		47,244
Total investments	$	190,102	$	940	$	(286	)	$	654	$	190,756

(1) Gross of tax impact

Amortized cost and estimated fair value of cash equivalents and marketable securities

The amortized cost and estimated fair value of cash equivalents and marketable securities classified as available-for-sale by expected maturity as of the dates indicated below were as follows (in thousands):

	July 1, 2012				April 1, 2012
	Amortized Cost		Fair Value		Amortized Cost		Fair Value
Less than 1 year	$	62,046	$	62,067	$	48,978	$	49,011
Due in 1 to 5 years		128,717		129,043		141,124		141,745
Total	$	190,763	$	191,110	$	190,102	$	190,756

Unrealized losses and fair values of our investments

The following table summarizes the gross unrealized losses and fair values of our investments in an unrealized loss position as of the dates indicated below, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position (in thousands):

	July 1, 2012
	Less than 12 months					12 months or greater					Total
	Fair Value		Gross Unrealized Losses			Fair Value		Gross Unrealized Losses			Fair Value		Gross Unrealized Losses
U.S. government and agency securities	$	5,988	$	(5	)	$	—	$	—		$	5,988	$	(5	)
Corporate bonds and notes		16,374		(75	)		201		(4	)		16,575		(79	)
Asset-backed securities		2,384		(11	)		2,035		(18	)		4,419		(29	)
Mortgage-backed securities		18,143		(173	)		2,125		(39	)		20,268		(212	)
Total	$	42,889	$	(264	)	$	4,361	$	(61	)	$	47,250	$	(325	)

	April 1, 2012
	Less than 12 months					12 months or greater					Total
	Fair Value		Gross Unrealized Losses			Fair Value		Gross Unrealized Losses			Fair Value		Gross Unrealized Losses
U.S. government and agency securities	$	16,175	$	(50	)	$	—	$	—		$	16,175	$	(50	)
Corporate bonds and notes		11,685		(33	)		—		—			11,685		(33	)
Asset-backed securities		3,516		(5	)		3,786		(39	)		7,302		(44	)
Mortgage-backed securities		16,435		(108	)		2,417		(51	)		18,852		(159	)
Total	$	47,811	$	(196	)	$	6,203	$	(90	)	$	54,014	$	(286	)