Investments (Tables)

6 Months Ended

Sep. 27, 2015

Investments, Debt and Equity Securities [Abstract]

Available-for-sale investments at September 27, 2015 were as follows:



(in thousands)	Cost			Gross Unrealized Gains		Gross Unrealized Losses			Estimated Fair Value
U.S. government treasuries and agencies securities	$	144,033		$	353	$	(18	)	$	144,368
Money market funds	37,139			—		—			37,139
Asset-backed securities	39,656			17		(17		)	39,656
Corporate bonds	261,206			184		(367		)	261,023
International government bonds	1,007			—		(3		)	1,004
Corporate commercial paper	8,546			—		—			8,546
Bank deposits	14,803			—		—			14,803
Repurchase agreements	128			—		—			128
Municipal bonds	5,978			35		(2		)	6,011
Total available-for-sale investments	512,496			589		(407		)	512,678
Less amounts classified as cash equivalents	(45,314		)	—		—			(45,314		)
Short-term investments	$	467,182		$	589	$	(407	)	$	467,364

Available-for-sale investments at March 29, 2015 were as follows:



(in thousands)	Cost			Gross Unrealized Gains		Gross Unrealized Losses			Estimated Fair Value
U.S. government treasuries and agencies securities	$	135,570		$	398	$	(23	)	$	135,945
Money market funds	55,578			—		—			55,578
Asset-backed securities	31,830			9		(9		)	31,830
Corporate bonds	245,229			567		(121		)	245,675
International government bonds	1,010			—		(4		)	1,006
Corporate commercial paper	4,999			—		—			4,999
Bank deposits	16,915			—		—			16,915
Repurchase agreements	191			—		—			191
Municipal bonds	6,001			45		(2		)	6,044
Total available-for-sale investments	497,323			1,019		(159		)	498,183
Less amounts classified as cash equivalents	(60,068		)	—		—			(60,068		)
Short-term investments	$	437,255		$	1,019	$	(159	)	$	438,115

Contractual Maturity of Available-For-Sale Debt Securities

The cost and estimated fair value of available-for-sale securities at September 27, 2015, by contractual maturity, were as follows:



(in thousands)	Amortized Cost		Estimated Fair Value
Due in 1 year or less	$	130,921	$	130,974
Due in 1-2 years	142,268		142,417
Due in 2-5 years	239,299		239,287
Total investments in available-for-sale securities	$	512,488	$	512,678

Gross Unrealized Losses and Fair Value of Investments in Continuous Loss Position

The following table shows the gross unrealized losses and fair value of the Company’s investments with unrealized losses as of September 27, 2015, aggregated by investment category and length of time that individual securities have been in a continuous loss position.



	Less Than 12 Months					12 Months or Greater				Total
(in thousands)	Fair Value		Unrealized Loss			Fair Value		Unrealized Loss		Fair Value		Unrealized Loss
Corporate bonds	$	151,943	$	(366	)	$	—	$	—	$	151,943	$	(366	)
Asset-backed securities	17,306		(17		)	—		—		17,306		(17		)
U.S. government treasuries and agencies securities	38,447		(18		)	—		—		38,447		(18		)
Municipal bonds	2,003		(3		)	—		—		2,003		(3		)
International government bonds	1,004		(3		)	—		—		1,004		(3		)
Total	$	210,703	$	(407	)	$	—	$	—	$	210,703	$	(407	)

The following table shows the gross unrealized losses and fair value of the Company’s investments with unrealized losses, as of March 29, 2015, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position.



	Less Than 12 Months					12 Months or Greater				Total
(in thousands)	Fair Value		Unrealized Loss			Fair Value		Unrealized Loss		Fair Value		Unrealized Loss
Corporate bonds	$	67,367	$	(121	)	$	—	$	—	$	67,367	$	(121	)
Asset-backed securities	17,736		(9		)	—		—		17,736		(9		)
U.S. government treasuries and agencies securities	18,478		(23		)	—		—		18,478		(23		)
Municipal bonds	1,001		(2		)	—		—		1,001		(2		)
International government bonds	1,006		(4		)	—		—		1,006		(4		)
Total	$	105,588	$	(159	)	$	—	$	—	$	105,588	$	(159	)