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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Jul. 03, 2016
Jun. 28, 2015
Cash flows from operating activities:    
Net income $ 20,947 $ 38,158
Adjustments:    
Depreciation 5,156 4,464
Amortization of intangible assets 6,096 831
Amortization of debt issuance cost and debt discount 3,268 0
Assets impairment 870 0
Gain on sale of property, plant and equipment 0 (325)
Stock-based compensation expense, net of amounts capitalized in inventory 10,515 7,835
Deferred income tax (4,046) 126
Changes in assets and liabilities:    
Accounts receivable, net (7,901) (6,777)
Inventories 8,006 2,660
Prepayments and other assets (118) 633
Accounts payable (4,803) (6,024)
Accrued compensation and related expenses (22,936) (19,840)
Deferred income on shipments to distributors 5,279 (5,314)
Income taxes payable and receivable 235 (37)
Other accrued liabilities and long-term liabilities 9,684 (3,302)
Net cash provided by operating activities 30,252 13,088
Cash flows from investing activities:    
Purchases of property, plant and equipment, net (7,025) (3,608)
Purchases of intangible assets (150) 0
Purchases of short-term investments (93,127) (94,460)
Proceeds from sales of short-term investments 35,063 62,197
Proceeds from maturities of short-term investments 9,985 29,527
Net cash used in investing activities (55,254) (6,344)
Cash flows from financing activities:    
Proceeds from issuance of common stock 5,361 7,229
Repurchase of common stock (30,563) (30,587)
Payment of capital lease obligations (483) 0
Net cash used in financing activities (25,685) (23,358)
Effect of exchange rates on cash and cash equivalents (559) 810
Net decrease in cash and cash equivalents (51,246) (15,804)
Cash held for sale [1] (1,000) 0
Cash and cash equivalents at beginning of period 203,231 116,945
Cash and cash equivalents at end of period $ 150,985 $ 101,141
[1] The impact of assets and liabilities reclassified as held for sale during the period was not considered in the changes in operating assets and liabilities, net of acquisitions within cash flows from operating activities. See Note 5 "Other Divestitures" for more details on the assets and liabilities reclassified as held for sale.