XML 50 R36.htm IDEA: XBRL DOCUMENT v3.23.1
Investments (Tables)
12 Months Ended
Apr. 01, 2023
Investments, Debt and Equity Securities [Abstract]  
Schedule of Investments
Investments consisted of the following (in thousands):
April 1,
2023
April 2,
2022
Available-for-sale debt securities
$18,555 $17,760 
Marketable equity securities
9,989 16,780 
Non-marketable equity investments
5,073 20,479 
33,617 55,019 
Less short-term investments(14,978)(20,086)
$18,639 $34,933 
Available-for-sale debt securities by investment category The amortized cost and fair value of our investments in available-for-sale debt securities, by security type are shown in the table below (in thousands):
 April 1, 2023
Amortized
Cost
Gross
Unrealized
Gains
Gross
Unrealized
Losses
Fair
Value
Residential mortgage-backed securities
$2,567 $— $(79)$2,488 
State and political subdivision debt securities
6,023 — (254)5,769 
Corporate debt securities
10,745 — (447)10,298 
$19,335 $— $(780)$18,555 

 April 2, 2022
Amortized
Cost
Gross
Unrealized
Gains
Gross
Unrealized
Losses
Fair
Value
Residential mortgage-backed securities
$1,668 $$(57)$1,613 
State and political subdivision debt securities
10,100 38 (232)9,906 
Corporate debt securities
6,502 (262)6,241 
$18,270 $41 $(551)$17,760 
Debt Securities, Available-for-Sale, Unrealized Loss Position, Fair Value
The following tables show gross unrealized losses and fair value, aggregated by investment category and length of time that individual securities had been in a continuous unrealized loss position (in thousands):
April 1, 2023
 Less than 12 Months12 Months or LongerTotal
Fair
Value
Unrealized
Losses
Fair
Value
Unrealized
Losses
Fair
Value
Unrealized
Losses
Residential mortgage-backed securities
$1,345 $(10)$1,117 $(69)$2,462 $(79)
State and political subdivision debt securities
251 — 4,792 (254)5,043 (254)
Corporate debt securities4,902 (136)5,396 (311)10,298 (447)
$6,498 $(146)$11,305 $(634)$17,803 $(780)

April 2, 2022
 Less than 12 Months12 Months or LongerTotal
Fair
Value
Unrealized
Losses
Fair
Value
Unrealized
Losses
Fair
Value
Unrealized
Losses
Residential mortgage-backed securities
$1,048 $(45)$289 $(12)$1,337 $(57)
State and political subdivision debt securities
3,884 (164)1,246 (68)5,130 (232)
Corporate debt securities5,215 (231)598 (31)5,813 (262)
$10,147 $(440)$2,133 $(111)$12,280 $(551)
Contractual Maturity of Investment Securities
The amortized cost and fair value of our investments in available-for-sale debt securities, by contractual maturity, are shown in the table below (in thousands). Expected maturities differ from contractual maturities as borrowers may have the right to call or prepay obligations, with or without penalties.
 April 1, 2023
Amortized
Cost
Fair
Value
Due in less than one year
$3,704 $3,626 
Due after one year through five years
12,172 11,551 
Due after five years through ten years
501 501 
Due after ten years
391 389 
Mortgage-backed securities
2,567 2,488 
$19,335 $18,555 
Gain (Loss) on Securities Net investment gains and losses on marketable equity securities for fiscal years 2023, 2022 and 2021 were as follows (in thousands):
Year Ended
April 1,
2023
April 2,
2022
April 3,
2021
Marketable equity securities:
Net gain recognized during the period$561 $2,160 $8,515 
Less: Net (gains) recognized on securities sold during the period(958)(551)(2,191)
Unrealized (losses) gains recognized during the period on securities still held$(397)$1,609 $6,324