Cash and Cash Equivalents and Investments

12 Months Ended

Mar. 30, 2014

Cash and Cash Equivalents [Abstract]

Cash and Cash Equivalents and Investments

Cash and Cash Equivalents and Investments

The following table presents information about our financial assets that are measured at fair value on a recurring basis as of March 30, 2014 and March 31, 2013, and indicates the fair value hierarchy of the valuation techniques utilized to determine such fair value.

Description	March 30, 2014		Level 1		Level 2		Level 3
(In thousands)
Assets:
Cash	$	33,486	$	33,486	$	—	$	—
Certificates of deposit	24,437		—		24,437		—
Municipal Bonds	5,258		—		5,258		—
Description	March 31, 2013		Level 1		Level 2		Level 3
(In thousands)
Assets:
Cash	$	28,715	$	28,715	$	—	$	—
Certificates of deposit	21,222		—		21,222		—

Our financial assets that are measured at fair value on a recurring basis are CD’s and municipal bonds, with maturities ranging from three months to three years which fall within valuation technique Level 2. The CD’s and municipal bonds are classified as investments in current assets and noncurrent assets on the condensed consolidated balance sheets. As of March 30, 2014, the CD’s and municipal bonds had a fair value of $13.8 million in current assets and $15.9 million in noncurrent assets.

The carrying value of cash and cash equivalents accounts approximates fair value, as maturities are three months or less.

The contractual maturities of available-for-sale securities at March 30, 2014 and March 31, 2013 are shown in the table below:

	March 30, 2014								March 31, 2013
(In thousands)		Amortized Cost		Fair Value		Unrealized Gain/(loss)			Amortized Cost		Fair Value		Unrealized Gain/(loss)
Within one year		$	13,864	$	13,843	$	(21	)	$	15,615	$	15,625	$	10
Between one and three years		15,890		15,852		(38		)	5,590		5,597		7
Total available-for-sale securities		$	29,754	$	29,695	$	(59	)	$	21,205	$	21,222	$	17

Realized gains and losses were not material for fiscal 2014, 2013 and 2012.