Marketable Securities (Tables)

6 Months Ended

Sep. 28, 2019

Schedule of Available-for-sale Securities

The following table is a summary of available-for-sale securities at September 28, 2019 (in thousands):


As of September 28, 2019	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Estimated Fair Value (Net Carrying Amount)
Corporate debt securities	$	234,115	$	2,810	$	(30)	$	236,895
Non-U.S. government securities	14,404		111		(7)		14,508
U.S. Treasury securities	9,891		32		(22)		9,901


Total securities	$	258,410	$	2,953	$	(59)	$	261,304

The Company typically invests in highly-rated securities with original maturities generally ranging from one to three years. The Company's specifically identified gross unrealized loss of $0.1 million related to securities with total amortized cost of approximately $28.2 million at September 28, 2019. Securities in a continuous unrealized loss position for more than 12 months as of September 28, 2019 had an aggregate amortized cost of $5.5 million and an immaterial amount of aggregate unrealized loss. The Company may sell certain of its marketable securities prior to their stated maturities for strategic reasons including, but not limited to, anticipated or actual changes in credit rating and duration management. When evaluating an investment for other-than-temporary impairment, the Company reviews factors including the length of time and extent to which fair value has been below cost basis, the financial condition of the issuer, changes in market interest rates and whether it is more likely than not the Company will be required to sell the investment before recovery of the investment’s cost basis. As of September 28, 2019, the Company did not consider any of its investments to be other-than-temporarily impaired.

The following table is a summary of available-for-sale securities at March 30, 2019 (in thousands):

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As of March 30, 2019	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Estimated Fair Value (Net Carrying Amount)
Corporate debt securities	$	215,098	$	1,027	$	(600)	$	215,525
Non-U.S. government securities	13,209		8		(40)		13,177

Agency discount notes	450		—		(1)		449
Total securities	$	228,757	$	1,035	$	(641)	$	229,151

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

The cost and estimated fair value of available-for-sale securities by contractual maturities were as follows (in thousands):

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	September 28, 2019						March 30, 2019
	Amortized		Estimated		Amortized		Estimated
	Cost		Fair Value		Cost		Fair Value
Within 1 year	$	22,527	$	22,563	$	70,490	$	70,183
After 1 year	235,883		238,741		158,267		158,968
Total	$	258,410	$	261,304	$	228,757	$	229,151