Investments (Tables)

12 Months Ended

Apr. 02, 2017

Investments, Debt and Equity Securities [Abstract]

The amortized cost and fair value of available-for-sale investments as of April 2, 2017 were as follows:



(in thousands)	Cost			Gross Unrealized Gains		Gross Unrealized Losses			Estimated Fair Value
U.S. government treasuries and agencies securities	$	62,048		$	16	$	(508	)	$	61,556
Money market funds	140,425			—		—			140,425
Asset-backed securities	13,865			5		(23		)	13,847
Corporate bonds	96,660			42		(326		)	96,376
International government bonds	5,423			2		(15		)	5,410
Corporate commercial paper	4,898			—		—			4,898
Bank deposits	12,305			—		—			12,305
Repurchase agreements	173			—		—			173
Total available-for-sale investments	335,797			65		(872		)	334,990
Less amounts classified as cash equivalents	(143,498		)	—		—			(143,498		)
Short-term investments	$	192,299		$	65	$	(872	)	$	191,492

The amortized cost and fair value of available-for-sale investments as of 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 debt securities as of April 2, 2017, by contractual maturity, were as follows:



(in thousands)	Amortized Cost		Estimated Fair Value
Due in 1 year or less	$	188,008	$	187,984
Due in 1-2 years	46,089		45,995
Due in 2-5 years	101,700		101,011
Total investments in available-for-sale debt securities	$	335,797	$	334,990

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



(in thousands)	Amortized Cost		Estimated Fair Value
Due in 1 year or less	$	150,253	$	150,262
Due in 1-2 years	69,571		69,666
Due in 2-5 years	55,805		55,923
Total investments in available-for-sale debt securities	$	275,629	$	275,851

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 April 2, 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	$	71,308	$	(326	)	$	—	$	—	$	71,308	$	(326	)
Asset-backed securities	11,294		(23		)	—		—		11,294		(23		)
U.S. government treasuries and agencies securities	55,497		(508		)	—		—		55,497		(508		)
International government bonds	2,634		(15		)	—		—		2,634		(15		)
Total	$	140,733	$	(872	)	$	—	$	—	$	140,733	$	(872	)

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	)