Fair Value Measurements (Tables)

6 Months Ended

Sep. 26, 2020

Fair Value Disclosures [Abstract]

Assets and liabilities measured at fair value on a recurring basis

The following tables present information about the Company’s assets and liabilities measured at fair value on a recurring basis as of September 26, 2020 and March 28, 2020:

	September 26, 2020
(In thousands)	(Level 1)		(Level 2)		(Level 3)		Total Fair Value
Assets
Cash equivalents:
Money market funds	$	385,263	$	—	$	—	$	385,263
Financial institution securities	—		80,834		—		80,834
Non-financial institution securities	—		269,884		—		269,884
U.S. government and agency securities	64,992		122,989		—		187,981
Foreign government and agency securities	—		110,237		—		110,237
Short-term investments:
Financial institution securities	—		325,000		—		325,000
Non-financial institution securities	—		402,103		—		402,103
U.S. government and agency securities	474,867		112,593		—		587,460
Foreign government and agency securities	—		489,624		—		489,624
Mortgage-backed securities	—		99,260		—		99,260
Asset-backed securities	—		875		—		875
Commercial mortgage-backed securities	—		19,300		—		19,300
Marketable equity securities	1,538		—		—		1,538
Derivative financial instruments, net	—		2,416		—		2,416
Total assets measured at fair value	$	926,660	$	2,035,115	$	—	$	2,961,775

	March 28, 2020
(In thousands)	(Level 1)		(Level 2)		(Level 3)		Total Fair Value
Assets
Cash equivalents:
Money market funds	$	656,038	$	—	$	—	$	656,038
Financial institution securities	—		175,000		—		175,000
Non-financial institution securities	—		361,692		—		361,692
U.S. government and agency securities	150,999		62,274		—		213,273
Foreign government and agency securities	—		244,300		—		244,300
Short-term investments:
Financial institution securities	—		150,000		—		150,000
Non-financial institution securities	—		115,043		—		115,043
U.S. government and agency securities	1,000		2,000		—		3,000
Foreign government and agency securities	—		9,973		—		9,973
Mortgage-backed securities	—		158,804		—		158,804
Asset-backed securities	—		2,549		—		2,549
Commercial mortgage-backed securities	—		50,144		—		50,144
Total assets measured at fair value	$	808,037	$	1,331,779	$	—	$	2,139,816
Liabilities
Derivative financial instruments, net	$	—	$	12,381	$	—	$	12,381
Total liabilities measured at fair value	$	—	$	12,381	$	—	$	12,381
Net assets measured at fair value	$	808,037	$	1,319,398	$	—	$	2,127,435