Fair Value Measurements (Tables)

9 Months Ended

Dec. 29, 2018

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 29, 2018 and March 31, 2018 was as follows (in thousands):



December 29, 2018	Level 1		Level 2			Level 3		Total
Cash equivalents:
Money market securities	$	21,578	$	—		$	—	$	21,578
Total cash equivalents	$	21,578	$	—		$	—	$	21,578
Short term investments - available for sale:
U.S. treasury fund	$	26,910	$	—		$	—	$	26,910
Commercial paper	—		58,530			—		58,530
Corporate bonds	—		37,641			—		37,641
Total short-term investments - available for sale	$	26,910	$	96,171		$	—	$	123,081
Forward purchase or sale contracts:
Japanese Yen	$	—	$	24		$	—	$	24
New Taiwan Dollar	—		5			—		5
Korean Won	—		10			—		10
Euro	—		14			—		14
British Pound	—		19			—		19
Chinese Renminbi	—		(41		)	—		(41		)
Singapore Dollar	—		1			—		1
Total forward contracts	$	—	$	32		$	—	$	32
Deferred compensation plan assets:*
Mutual funds and exchange traded funds	$	1,874	$	—		$	—	$	1,874
Money market securities	316		—			—		316
Total deferred compensation plan assets	$	2,190	$	—		$	—	$	2,190



March 31, 2018	Level 1		Level 2			Level 3		Total
Cash equivalents:
Money market securities	$	41,752	$	—		$	—	$	41,752
U.S. treasury fund	2,500		—			—		2,500
Commercial paper	—		3,498			—		3,498
Corporate bonds	—		1,999			—		1,999
Total cash equivalents	$	44,252	$	5,497		$	—	$	49,749
Short term investments - available for sale:
U.S. treasury fund	$	10,458	$	—		$	—	$	10,458
Commercial paper	—		25,913			—		25,913
Corporate bonds	—		10,750			—		10,750
Total short-term investments - available for sale	$	10,458	$	36,663		$	—	$	47,121
Forward purchase or sale contracts:
Japanese Yen	$	—	$	(23	)	$	—	$	(23	)
New Taiwan Dollar	—		3			—		3
Korean Won	—		(12		)	—		(12		)
Euro	—		7			—		7
British Pound	—		49			—		49
Chinese Renminbi	—		(29		)	—		(29		)
Singapore Dollar	—		(1		)	—		(1		)
Total forward contracts	$	—	$	(6	)	$	—	$	(6	)
Deferred compensation plan assets:*
Mutual funds and exchange traded funds	$	1,841	$	—		$	—	$	1,841
Money market securities	207		—			—		207
Total deferred compensation plan assets	$	2,048	$	—		$	—	$	2,048

Investments

The Company’s investments, including investments classified as cash equivalents, at December 29, 2018 and March 31, 2018 were as follows (in thousands):



			Unrealized
December 29, 2018	Cost		Gain		Loss			Fair Value
Available-for-sale securities (current):
U.S. treasury fund	$	26,912	$	—	$	(2	)	$	26,910
Commercial paper	58,530		—		—			58,530
Corporate Bonds	37,675		—		(34		)	37,641
Total investments (current)	$	123,117	$	—	$	(36	)	$	123,081
Available-for-sale securities (non-current):
Mutual funds, exchange traded funds and money market securities*	$	2,226	$	—	$	(36	)	$	2,190
Total investments (non-current)	$	2,226	$	—	$	(36	)	$	2,190
			Unrealized
March 31, 2018	Cost		Gain		Loss			Fair Value
Available-for-sale securities (current):
U.S. treasury fund	$	12,975	$	—	$	(17	)	$	12,958
Commercial paper	29,411		—		—			29,411
Corporate bonds	12,768		—		(19		)	12,749
Total investments (current)	$	55,154	$	—	$	(36	)	$	55,118
Available-for-sale securities (non-current):
Mutual funds, exchange traded funds and money market securities*	$	1,881	$	167	$	—		$	2,048
Total investments (non-current)	$	1,881	$	167	$	—		$	2,048