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Marketable Securities (Tables)
9 Months Ended
Dec. 27, 2014
Marketable Securities [Abstract]  
Schedule of Available-for-sale Securities

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Estimated

 

 

 

 

Gross

 

Gross

 

Fair Value

 

Amortized

 

Unrealized

 

Unrealized

 

(Net Carrying

As of December 27, 2014

Cost

 

Gains

 

Losses

 

Amount)

Corporate debt securities

$

81,551 

 

$

11 

 

$

(92)

 

$

81,470 

Commercial paper

 

11,498 

 

 

 

 

(7)

 

 

11,495 

U.S. Treasury securities

 

16,505 

 

 

 -

 

 

(5)

 

 

16,500 

Total securities

$

109,554 

 

$

15 

 

$

(104)

 

$

109,465 

 

The Company’s specifically identified gross unrealized losses of $104 thousand relates to 26 different securities with total amortized cost of approximately $104.6 million at December 27, 2014.  Because the Company does not intend to sell the investments at a loss and the Company will not be required to sell the investments before recovery of its amortized cost basis, it did not consider the investment in these securities to be other-than-temporarily impaired at December 27, 2014.  Further, the securities with gross unrealized losses had been in a continuous unrealized loss position for less than 12 months as of December 27, 2014. 

 

The following table is a summary of available-for-sale securities at March 29, 2014 (in thousands): 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Estimated

 

 

 

Gross

 

Gross

 

Fair Value

 

Amortized

 

Unrealized

 

Unrealized

 

(Net Carrying

As of March 29, 2014

Cost

 

Gains

 

Losses

 

Amount)

Corporate debt securities

$

246,878 

 

$

52 

 

$

(245)

 

$

246,685 

U.S. Treasury securities

 

56,986 

 

 

10 

 

 

(2)

 

 

56,994 

Agency discount notes

 

2,008 

 

 

 

 

 -

 

 

2,009 

Commercial paper

 

41,962 

 

 

10 

 

 

(2)

 

 

41,970 

Certificates of deposit

 

5,006 

 

 

 -

 

 

(4)

 

 

5,002 

Total securities

$

352,840 

 

$

73 

 

$

(253)

 

$

352,660 

 

Schedule of Cost and Estimated Fair Value of Available-for-sale Securities by Contractual Maturity

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

December 27, 2014

 

March 29, 2014

 

 

Amortized

 

Estimated

 

Amortized

 

Estimated

 

 

Cost

 

Fair Value

 

Cost

 

Fair Value

Within 1 year

 

$

106,136 

 

$

106,061 

 

$

263,418 

 

$

263,417 

After 1 year

 

 

3,418 

 

 

3,404 

 

 

89,422 

 

 

89,243 

Total

 

$

109,554 

 

$

109,465 

 

$

352,840 

 

$

352,660