Marketable Securities

12 Months Ended

Mar. 30, 2013

Marketable Securities [Abstract]

Marketable Securities

3.Marketable Securities

The Company’s investments that have original maturities greater than 90 days have been classified as available-for-sale securities in accordance with U.S. GAAP.  Marketable securities are categorized on the consolidated balance sheet as marketable securities, as appropriate.

The following table is a summary of available-for-sale securities (in thousands):

								Estimated
				Gross		Gross		Fair Value
		Amortized		Unrealized		Unrealized		(Net Carrying
As of March 30, 2013		Cost		Gains		Losses		Amount)
Corporate debt securities	$	94,798	$	2	$	(133)	$	94,667
U.S. Treasury securities		34,380		4		(3)		34,381
Agency discount notes		1,027		-		-		1,027
Commercial paper		40,089		9		(28)		40,070
Total securities	$	170,294	$	15	$	(164)	$	170,145

The Company’s specifically identified gross unrealized losses of $164 thousand relates to 43 different securities with a total amortized cost of approximately $124.1 million at March 30, 2013. 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 March 30, 2013.  Further, the securities with gross unrealized losses had been in a continuous unrealized loss position for less than 12 months as of March 30, 2013.

							Estimated
			Gross		Gross		Fair Value
	Amortized		Unrealized		Unrealized		(Net Carrying
As of March 31, 2012	Cost		Gains		Losses		Amount)
Corporate debt securities	$	48,011	$	33	$	(19)	$	48,025
U.S. Treasury securities		30,264		1		(4)		30,261
Agency discount notes		16,789		8		(1)		16,796
Commercial paper		23,719		5		(15)		23,709
Total securities	$	118,783	$	47	$	(39)	$	118,791

The Company’s specifically identified gross unrealized losses of  $39 thousand relates to 37 different securities with a total amortized cost of approximately $72.6 million at March 31, 2012.  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 March 31, 2012.  Further, the securities with gross unrealized losses had been in a continuous unrealized loss position for less than 12 months as of March 31, 2012.

The cost and estimated fair value of available-for-sale investments by contractual maturity were as follows:

		March 30, 2013				March 31, 2012
		Amortized		Estimated		Amortized		Estimated
		Cost		Fair Value		Cost		Fair Value
Within 1 year	$	105,290	$	105,235	$	115,871	$	115,876
After 1 year		65,004		64,910		2,912		2,915
Total	$	170,294	$	170,145	$	118,783	$	118,791