Investments (Tables)

9 Months Ended

Jan. 01, 2017

Investments, Debt and Equity Securities [Abstract]

Available-for-sale investments at January 1, 2017 were as follows:



(in thousands)	Cost			Gross Unrealized Gains		Gross Unrealized Losses			Estimated Fair Value
U.S. government treasuries and agencies securities	$	79,898		$	17	$	(578	)	$	79,337
Money market funds	35,461			—		—			35,461
Asset-backed securities	11,497			5		(10		)	11,492
Corporate bonds	147,964			91		(684		)	147,371
International government bonds	4,845			—		(17		)	4,828
Corporate commercial paper	22,757			—		(53		)	22,704
Bank deposits	11,407			—		—			11,407
Repurchase agreements	441			—		—			441
Total available-for-sale investments	314,270			113		(1,342		)	313,041
Less amounts classified as cash equivalents	(35,902		)	—		—			(35,902		)
Short-term investments	$	278,368		$	113	$	(1,342	)	$	277,139

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 January 1, 2017, by contractual maturity, were as follows:



(in thousands)	Amortized Cost		Estimated Fair Value
Due in 1 year or less	$	104,085	$	104,012
Due in 1-2 years	94,096		93,938
Due in 2-5 years	116,089		115,091
Total investments in available-for-sale securities	$	314,270	$	313,041

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 January 1, 2017, 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	$	120,575	$	(684	)	$	—	$	—	$	120,575	$	(684	)
Asset-backed securities	3,561		(10		)	—		—		3,561		(10		)
U.S. government treasuries and agencies securities	68,369		(578		)	—		—		68,369		(578		)
International govt bonds	4,828		(17		)					4,828		(17		)
Corporate commercial paper	6,948		(53		)	—		—		6,948		(53		)
Total	$	204,281	$	(1,342	)	$	—	$	—	$	204,281	$	(1,342	)

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	)