Fair Value Measurements (Tables)

9 Months Ended

Dec. 31, 2016

Fair Value Hierarchy for Financial Assets Measured at Fair Value on Recurring Basis

The Company’s fair value hierarchy for its financial assets and liabilities measured at fair value on a recurring basis as of December 31, 2016 and April 2, 2016 was as follows (in thousands):



December 31, 2016	Level 1		Level 2			Level 3		Total
Cash equivalents:
Money market securities	$	3,370	$	—		$	—	$	3,370
Commercial paper	—		11,196			—		11,196
Total cash equivalents	$	3,370	$	11,196		$	—	$	14,566
Short term investments - available for sale:
U.S. treasury fund	$	1,003	$	—		$	—	$	1,003
Commercial paper	—		4,295			—		4,295
Government agencies	—		1,003			—		1,003
Total short-term investments - available for sale	$	1,003	$	5,298		$	—	$	6,301

Forward purchase or (sale) contracts:
Japanese Yen	$	—	$	(2	)	$	—	$	(2	)
New Taiwan Dollar	—		(12		)	—		(12		)
Korean Won	—		48			—		48
Euro	—		158			—		158
British Pound	—		(33		)	—		(33		)
Chinese Renminbi	—		(1		)	—		(1		)
Singapore Dollar	—		1			—		1
Total forward contracts	$	—	$	159		$	—	$	159

Deferred compensation plan assets:*
Mutual funds and exchange traded funds	$	2,316	$	—		$	—	$	2,316
Money market securities	785		—			—		785
Total deferred compensation plan assets	$	3,101	$	—		$	—	$	3,101



April 2, 2016	Level 1		Level 2			Level 3		Total
Cash equivalents:
Money market securities	$	4,643	$	—		$	—	$	4,643
Commercial paper	—		12,140			—		12,140
Total cash equivalents	$	4,643	$	12,140		$	—	$	16,783
Short term investments - available for sale:
U.S. treasury fund	$	1,003	$	—		$	—	$	1,003
Commercial paper	—		997			—		997
Government agencies	—		13,252			—		13,252
Total short-term investments - available for sale	$	1,003	$	14,249		$	—	$	15,252

Forward purchase or (sale) contracts:
Japanese Yen	$	—	$	(31	)	$	—	$	(31	)
New Taiwan Dollar	—		5			—		5
Korean Won	—		129			—		129
Euro	—		(367		)	—		(367		)
Chinese Renminbi	—		(1		)	—		(1		)
Singapore Dollar	—		20			—		20
Total forward contracts	$	—	$	(245	)	$	—	$	(245	)

Deferred compensation plan assets:*
Mutual funds and exchange traded funds	$	1,916	$	—		$	—	$	1,916
Money market securities	588		—			—		588
Total deferred compensation plan assets	$	2,504	$	—		$	—	$	2,504

Investments

The Company’s investments at December 31, 2016 and April 2, 2016 were as follows (in thousands):



			Unrealized
December 31, 2016	Cost		Gain		Loss			Fair Value
Available-for-sale securities (current):
Government agencies	$	1,003	$	—	$	—		$	1,003
Commercial paper	15,491		—		—			15,491
Total investments (current)	$	16,494	$	—	$	—		$	16,494
Available-for-sale securities (non-current):
Mutual funds, exchange traded funds and money market securities*	$	3,046	$	55	$	—		$	3,101
Total investments (non-current)	$	3,046	$	55	$	—		$	3,101

			Unrealized
April 2, 2016	Cost		Gain		Loss			Fair Value
Available-for-sale securities (current):
Commercial paper	$	13,137	$	—	$	—		$	13,137
Government agencies	13,247		5		—			13,252
Total investments (current)	$	26,384	$	5	$	—		$	26,389
Available-for-sale securities (non-current):
Mutual funds, exchange traded funds and money market securities*	$	2,507	$	—	$	(3	)	$	2,504
Total investments (non-current)	$	2,507	$	—	$	(3	)	$	2,504