XML 20 R9.htm IDEA: XBRL DOCUMENT
v3.19.2

Marketable Securities | 3 Months Ended
--- | ---
Jun. 29, 2019
Marketable Securities [Abstract] |
Marketable Securities | 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 condensed balance sheet as short- and long-term marketable securities, as appropriate. The following table is a summary of available-for-sale securities at June 29, 2019 (in thousands):
As of June 29, 2019 | Amortized Cost |  | Gross Unrealized Gains |  | Gross Unrealized Losses |  | Estimated Fair Value (Net Carrying Amount)
Corporate debt securities | $ | 236,150 |  |  | $ | 2,474 |  |  | $ | (102 | ) |  | $ | 238,522 |
Non-U.S. government securities | 15,147 |  |  | 109 |  |  | (7 | ) |  | 15,249 |
U.S. Treasury securities | 3,623 |  |  | 35 |  |  | — |  |  | 3,658 |
Total securities | $ | 254,920 |  |  | $ | 2,618 |  |  | $ | (109 | ) |  | $ | 257,429 |
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 $56.1 million at June 29, 2019. Securities in a continuous unrealized loss position for more than 12 months as of June 29, 2019 had an aggregate amortized cost of $49.8 million and an aggregate unrealized loss of $0.1 million. 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 June 29, 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): ໿ ໿
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 |
The Company’s specifically identified gross unrealized losses of $0.6 million related to securities with total amortized cost of approximately $123.1 million at March 30, 2019. Securities in a continuous unrealized loss position for more than 12 months as of March 30, 2019 had an aggregate amortized cost of $120.3 million and an aggregate unrealized loss of $0.6 million. 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 March 30, 2019, the Company did not consider any of its investments to be other-than-temporarily impaired. The cost and estimated fair value of available-for-sale securities by contractual maturities were as follows (in thousands): ໿
| June 29, 2019 |  | March 30, 2019
| Amortized |  | Estimated |  | Amortized |  | Estimated
| Cost |  | Fair Value |  | Cost |  | Fair Value
Within 1 year | $ | 52,415 |  |  | $ | 52,350 |  |  | $ | 70,490 |  |  | $ | 70,183 |
After 1 year | 202,505 |  |  | 205,079 |  |  | 158,267 |  |  | 158,968 |
Total | $ | 254,920 |  |  | $ | 257,429 |  |  | $ | 228,757 |  |  | $ | 229,151 |

X
- Definition The entire disclosure for investments in certain debt and equity securities. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 320 -URI http://asc.fasb.org/subtopic&trid=2209399 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 946 -SubTopic 320 -URI http://asc.fasb.org/subtopic&trid=2324412 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -URI http://asc.fasb.org/topic&trid=2196928 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 940 -SubTopic 320 -URI http://asc.fasb.org/subtopic&trid=2176304 + Details
Name: | us-gaap_InvestmentsInDebtAndMarketableEquitySecuritiesAndCertainTradingAssetsDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_MarketableSecuritiesAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration