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Investments (Notes)
 6 Months Ended
Sep. 30, 2014
Investments [Abstract]  
Investments
Investments
 
The Company's investments are intended to establish a high-quality portfolio that preserves principal, meets liquidity needs, avoids inappropriate concentrations, and delivers an appropriate yield in relationship to the Company's investment guidelines and market conditions.  The following is a summary of available-for-sale securities at September 30, 2014 (amounts in thousands):
 
Available-for-sale Securities
 
Adjusted
Cost
 
Gross
Unrealized
Gains
 
Gross
Unrealized
Losses
 
Estimated
Fair Value
Government agency bonds
$
668,639

 
$
129

 
$
(2,560
)
 
$
666,208

Municipal bonds
41,097

 
66

 
(2
)
 
41,161

Auction rate securities
9,825

 
—

 
—

 
9,825

Time deposits (1)
20,160

 
—

 
—

 
20,160

Corporate bonds and debt
904,243

 
2,150

 
(800
)
 
905,593

 
$
1,643,964

 
$
2,345

 
$
(3,362
)
 
$
1,642,947

 
(1) Time deposits in various financial institutions with maturities greater than three months that will mature within one year.

The following is a summary of available-for-sale securities at March 31, 2014 (amounts in thousands):
 
Available-for-sale Securities
 
Adjusted
Cost
 
Gross
Unrealized
Gains
 
Gross
Unrealized
Losses
 
Estimated
Fair Value
Government agency bonds
$
684,451

 
$
114

 
$
(3,171
)
 
$
681,394

Municipal bonds
41,622

 
101

 
(14
)
 
41,709

Auction rate securities
9,825

 
—

 
—

 
9,825

Corporate bonds and debt
941,524

 
3,247

 
(805
)
 
943,966

 
$
1,677,422

 
$
3,462

 
$
(3,990
)
 
$
1,676,894



At September 30, 2014, the Company's available-for-sale debt securities are presented on the condensed consolidated balance sheets as short-term investments of $801.7 million and long-term investments of $841.3 million.  At March 31, 2014, the Company's available-for-sale debt securities are presented on the condensed consolidated balance sheets as short-term investments of $878.2 million and long-term investments of $798.7 million.

At September 30, 2014, the Company evaluated its investment portfolio and noted unrealized losses of $3.4 million on its debt securities with an aggregated fair value of $833.3 million, which were due primarily to higher interest rates and resulting declines in market prices. Management does not believe any of the unrealized losses represent an other-than-temporary impairment based on its evaluation of available evidence as of September 30, 2014 and the Company's intent is to hold these investments until these assets are no longer impaired, except for certain auction rate securities (ARS).  For those debt securities not scheduled to mature until after September 30, 2015, such recovery is not anticipated to occur in the next year and these investments have been classified as long-term investments.
 
The amortized cost and estimated fair value of the available-for-sale securities at September 30, 2014, by contractual maturity, excluding corporate debt of $6.2 million, which has no contractual maturity, are shown below (amounts in thousands).  Expected maturities can differ from contractual maturities because the issuers of the securities may have the right to prepay obligations without prepayment penalties, and the Company views its available-for-sale securities as available for current operations.
 
Adjusted
Cost
 
Gross
Unrealized
Gains
 
Gross
Unrealized
Losses
 
Estimated
Fair Value
Available-for-sale
 
 
 
 
 
 
 
Due in one year or less
$
250,615

 
$
742

 
$
(5
)
 
$
251,352

Due after one year and through five years
1,264,898

 
1,552

 
(2,227
)
 
1,264,223

Due after five years and through ten years
112,436

 
51

 
(1,130
)
 
111,357

Due after ten years
9,825

 
—

 
—

 
9,825

 
$
1,637,774

 
$
2,345

 
$
(3,362
)
 
$
1,636,757


 
The Company had no material realized gains or losses from the sale of available-for-sale marketable equity securities or debt securities during each of the three and six-month periods ended September 30, 2014 and 2013.