Investments (Tables)

3 Months Ended

Jul. 03, 2016

Investments, Debt and Equity Securities [Abstract]

Available-for-sale investments at July 3, 2016 were as follows:



(in thousands)	Cost			Gross Unrealized Gains		Gross Unrealized Losses			Estimated Fair Value
U.S. government treasuries and agencies securities	$	50,091		$	305	$	—		$	50,396
Money market funds	38,408			—		—			38,408
Asset-backed securities	10,319			20		(2		)	10,337
Corporate bonds	119,967			456		(136		)	120,287
International government bonds	2,194			35		—			2,229
Corporate commercial paper	5,972			—		—			5,972
Bank deposits	10,040			—		—			10,040
Repurchase agreements	367			—		—			367
Municipal bonds	900			—		—			900
Total available-for-sale investments	238,258			816		(138		)	238,936
Less amounts classified as cash equivalents	(39,275		)	—		—			(39,275		)
Short-term investments	$	198,983		$	816	$	(138	)	$	199,661

Available-for-sale investments at April 3, 2016 were as follows:



(in thousands)	Cost			Gross Unrealized Gains		Gross Unrealized Losses			Estimated Fair Value
U.S. government treasuries and agencies securities	$	32,374		$	146	$	(1	)	$	32,519
Money market funds	124,504			—		—			124,504
Asset-backed securities	10,518			4		(7		)	10,515
Corporate bonds	91,321			246		(179		)	91,388
International government bonds	2,195			13		—			2,208
Corporate commercial paper	1,992			—		—			1,992
Bank deposits	11,711			—		—			11,711
Repurchase agreements	114			—		—			114
Municipal bonds	900			—		—			900
Total available-for-sale investments	275,629			409		(187		)	275,851
Less amounts classified as cash equivalents	(124,618		)	—		—			(124,618		)
Short-term investments	$	151,011		$	409	$	(187	)	$	151,233

Contractual Maturity of Available-For-Sale Debt Securities

The cost and estimated fair value of available-for-sale securities at July 3, 2016, by contractual maturity, were as follows:



(in thousands)	Amortized Cost		Estimated Fair Value
Due in 1 year or less	$	69,206	$	69,216
Due in 1-2 years	84,481		84,659
Due in 2-5 years	84,571		85,061
Total investments in available-for-sale securities	$	238,258	$	238,936

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 July 3, 2016, 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	$	37,650	$	(136	)	$	—	$	—	$	37,650	$	(136	)
Asset-backed securities	3,874		(2		)	—		—		3,874		(2		)
Total	$	41,524	$	(138	)	$	—	$	—	$	41,524	$	(138	)

The following table shows the gross unrealized losses and fair value of the Company’s investments with unrealized losses, as of April 3, 2016, 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	$	33,407	$	(179	)	$	—	$	—	$	33,407	$	(179	)
Asset-backed securities	4,979		(7		)	—		—		4,979		(7		)
U.S. government treasuries and agencies securities	6,097		(1		)	—		—		6,097		(1		)
Total	$	44,483	$	(187	)	$	—	$	—	$	44,483	$	(187	)