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Financial Instruments (Tables)
 3 Months Ended
Jun. 29, 2019
Investments, All Other Investments [Abstract]  
Available-for-sale securities

The following is a summary of cash equivalents and available-for-sale securities as of the end of the periods presented:

 
June 29, 2019
 
 
March 30, 2019
(In thousands)
Amortized Cost
 
Gross Unrealized Gains
 
Gross Unrealized Losses
 
Estimated Fair Value
 
 
Amortized Cost
 
Gross Unrealized Gains
 
Gross Unrealized Losses
 
Estimated Fair Value
Money market funds
$
585,075

 
$
—

 
$
—

 
$
585,075

 
 
$
428,150

 
$
—

 
$
—

 
$
428,150

Financial institution


 


 


 


 
 


 


 


 


securities
509,853

 
—

 
—

 
509,853

 
 
537,795

 
—

 
—

 
537,795

Non-financial institution


 


 


 


 
 


 


 


 


securities
311,954

 
35

 
(176
)
 
311,813

 
 
702,483

 
3

 
(562
)
 
701,924

U.S. government and

 

 

 

 
 

 

 

 

agency securities
267,414

 
49

 
(47
)
 
267,416

 
 
334,185

 
39

 
(139
)
 
334,085

Foreign government and

 

 

 

 
 

 

 

 

agency securities
399,407

 
—

 
—

 
399,407

 
 
214,455

 
—

 
—

 
214,455

Mortgage-backed securities
580,189

 
1,524

 
(5,166
)
 
576,547

 
 
684,596

 
809

 
(14,635
)
 
670,770

Asset-backed securities
50,358

 
26

 
(113
)
 
50,271

 
 
76,852

 
—

 
(483
)
 
76,369

Commercial mortgage-


 


 


 


 
 


 


 


 


backed securities
94,298

 
60

 
(593
)
 
93,765

 
 
118,115

 
42

 
(1,618
)
 
116,539

 
$
2,798,548

 
$
1,694

 
$
(6,095
)
 
$
2,794,147

 
 
$
3,096,631

 
$
893

 
$
(17,437
)
 
$
3,080,087
Fair values and gross unrealized losses of the investments
The following tables show the fair values and gross unrealized losses of the Company’s investments, aggregated by investment category, for individual securities that have been in a continuous unrealized loss position for the length of time specified, as of June 29, 2019 and March 30, 2019:

 
June 29, 2019
 
Less Than 12 Months
 
12 Months or Greater
 
Total
(In thousands)
Fair Value
 
Gross Unrealized Losses
 
Fair Value
 
Gross Unrealized Losses
 
Fair Value
 
Gross Unrealized Losses
Non-financial institution securities
$
—

 
$
—

 
$
38,010

 
$
(176
)
 
$
38,010

 
$
(176
)
U.S. government and

 

 

 

 


 


    agency securities
—

 
—

 
13,633

 
(47
)
 
13,633

 
(47
)
Mortgage-backed securities
40,762

 
(148
)
 
411,450

 
(5,018
)
 
452,212

 
(5,166
)
Asset-backed securities
6,458

 
(3
)
 
35,955

 
(110
)
 
42,413

 
(113
)
Commercial mortgage-

 

 

 

 
 
 
 
backed securities
7,060

 
(16
)
 
68,478

 
(577
)
 
75,538

 
(593
)
 
$
54,280

 
$
(167
)
 
$
567,526

 
$
(5,928
)
 
$
621,806

 
$
(6,095
)

 
March 30, 2019
 
Less Than 12 Months
 
12 Months or Greater
 
Total
(In thousands)
Fair Value
 
Gross Unrealized Losses
 
Fair Value
 
Gross Unrealized Losses
 
Fair Value
 
Gross Unrealized Losses
Non-financial institution securities
$
4,767

 
$
(4
)
 
$
51,044

 
$
(558
)
 
$
55,811

 
$
(562
)
U.S. government and

 

 

 

 

 

    agency securities
—

 
—

 
13,542

 
(139
)
 
13,542

 
(139
)
Mortgage-backed securities
34,595

 
(480
)
 
597,394

 
(14,155
)
 
631,989

 
(14,635
)
Asset-backed securities
—

 
—

 
76,103

 
(483
)
 
76,103


(483
)
Commercial mortgage-
 
 
 
 
 
 
 
 
 
 
 
    backed securities
1,354

 
(3
)
 
112,294

 
(1,615
)
 
113,648

 
(1,618
)
 
$
40,716

 
$
(487
)
 
$
850,377

 
$
(16,950
)
 
$
891,093

 
$
(17,437
)
Amortized cost and estimated fair value of marketable debt securities
 
June 29, 2019
(In thousands)
Amortized
Cost
 
Estimated
Fair Value
Due in one year or less
$
1,449,786

 
$
1,449,796

Due after one year through five years
112,270

 
111,905

Due after five years through ten years
120,976

 
120,656

Due after ten years
530,441

 
526,715


$
2,213,473

 
$
2,209,072
Information on sale of available-for-sale securities
Certain information related to available-for-sale securities is as follows:

 
Three Months Ended
(In thousands)
June 29, 2019
 
June 30, 2018
Proceeds from sale of available-for-sale securities
$
156,094

 
$
895

Gross realized gains on sale of available-for-sale securities
$
604

 
$
96

Gross realized losses on sale of available-for-sale securities
(39
)
 
(47
)
Net realized gains on sale of available-for-sale securities
$
565

 
$
49

Amortization of premiums on available-for-sale securities
$
711

 
$
2,491