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Investments | 9 Months Ended
--- | ---
Dec. 29, 2012
Investments [Abstract] |
Investments | 3. Investments The following table summarizes the Company’s available-for-sale investment securities, gross unrealized gains and losses and fair value, aggregated by investment category (in thousands):
|  | December 29, 2012 |
|  |  |  |  | Gross |  |  | Gross |  |  |  |
|  | Amortized |  |  | Unrealized |  |  | Unrealized |  |  | Fair |
|  | Cost |  |  | Gains |  |  | Losses |  |  | Value |
U.S. Treasury and government agencies |  | $ | 2,751 |  |  | $ | 12 |  |  | $ | (4 | ) |  | $ | 2,759 |
Mortgage-backed securities |  |  | 5,050 |  |  |  | 25 |  |  |  | (107 | ) |  |  | 4,968 |
States and political subdivisions |  |  | 1,424 |  |  |  | 27 |  |  |  | (1 | ) |  |  | 1,450 |
Corporate debt securities |  |  | 3,179 |  |  |  | 56 |  |  |  | — |  |  |  | 3,235 |
Marketable equity securities |  |  | 3,945 |  |  |  | 245 |  |  |  | (96 | ) |  |  | 4,094 |
|  | $ | 16,349 |  |  | $ | 365 |  |  | $ | (208 | ) |  | $ | 16,506 |
|  | March 31, 2012 |
|  |  |  |  | Gross |  |  | Gross |  |  |  |
|  | Amortized |  |  | Unrealized |  |  | Unrealized |  |  | Fair |
|  | Cost |  |  | Gains |  |  | Losses |  |  | Value |
U.S. Treasury and government agencies |  | $ | 1,371 |  |  | $ | 11 |  |  | $ | (1 | ) |  | $ | 1,381 |
Mortgage-backed securities |  |  | 3,946 |  |  |  | 17 |  |  |  | (48 | ) |  |  | 3,915 |
States and political subdivisions |  |  | 1,186 |  |  |  | 26 |  |  |  | — |  |  |  | 1,212 |
Corporate debt securities |  |  | 3,640 |  |  |  | 37 |  |  |  | (1 | ) |  |  | 3,676 |
Marketable equity securities |  |  | 3,883 |  |  |  | 218 |  |  |  | (83 | ) |  |  | 4,018 |
|  | $ | 14,026 |  |  | $ | 309 |  |  | $ | (133 | ) |  | $ | 14,202 |
The following tables show the gross unrealized losses and fair value, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position (in thousands):
|  | December 29, 2012 |
|  | Less than 12 Months |  |  | 12 Months or Longer |  |  | Total |
|  | Fair |  |  | Unrealized |  |  | Fair |  |  | Unrealized |  |  | Fair |  |  | Unrealized |
|  | Value |  |  | Losses |  |  | Value |  |  | Losses |  |  | Value |  |  | Losses |
U.S. Treasury and government agencies |  | $ | 796 |  |  | $ | (4 | ) |  | $ | — |  |  | $ | — |  |  | $ | 796 |  |  | $ | (4 | )
Mortgage-backed securities |  |  | 2,429 |  |  |  | (107 | ) |  |  | — |  |  |  | — |  |  |  | 2,429 |  |  |  | (107 | )
States and political subdivisions |  |  | 256 |  |  |  | (1 | ) |  |  | — |  |  |  | — |  |  |  | 256 |  |  |  | (1 | )
Marketable equity securities |  |  | 605 |  |  |  | (30 | ) |  |  | 424 |  |  |  | (66 | ) |  |  | 1,029 |  |  |  | (96 | )
|  | $ | 4,086 |  |  | $ | (142 | ) |  | $ | 424 |  |  | $ | (66 | ) |  | $ | 4,510 |  |  | $ | (208 | )
|  | March 31, 2012 |
|  | Less than 12 Months |  |  | 12 Months or Longer |  |  | Total |
|  | Fair |  |  | Unrealized |  |  | Fair |  |  | Unrealized |  |  | Fair |  |  | Unrealized |
|  | Value |  |  | Losses |  |  | Value |  |  | Losses |  |  | Value |  |  | Losses |
U.S. Treasury and government agencies |  | $ | 249 |  |  | $ | (1 | ) |  | $ | — |  |  | $ | — |  |  | $ | 249 |  |  | $ | (1 | )
Mortgage-backed securities |  |  | 2,509 |  |  |  | (48 | ) |  |  | — |  |  |  | — |  |  |  | 2,509 |  |  |  | (48 | )
Corporate debt securities |  |  | 384 |  |  |  | (1 | ) |  |  | — |  |  |  | — |  |  |  | 384 |  |  |  | (1 | )
Marketable equity securities |  |  | 1,194 |  |  |  | (83 | ) |  |  | — |  |  |  | — |  |  |  | 1,194 |  |  |  | (83 | )
|  | $ | 4,336 |  |  | $ | (133 | ) |  | $ | — |  |  | $ | — |  |  | $ | 4,336 |  |  | $ | (133 | )
Based on the Company’s ability and intent to hold the investments for a reasonable period of time sufficient for a forecasted recovery of fair value, the Company does not consider any investments to be other-than-temporarily impaired at December 29, 2012. The Company’s investments in marketable equity securities consist of investments in common stock of industrial and other companies ($2.6 million of the total fair value and $80,000 of the total unrealized losses) and bank trust, insurance, and public utility companies ($1.5 million of the total fair value and $16,000 of the total unrealized losses). The amortized cost and fair value of the Company’s investments in debt securities, by contractual maturity, are shown in the table below (in thousands). Expected maturities will differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties.
|  | December 29, 2012 |  |  | March 31, 2012 |
|  | Amortized |  |  | Fair |  |  | Amortized |  |  | Fair |
|  | Cost |  |  | Value |  |  | Cost |  |  | Value |
Due in less than one year |  | $ | 2,076 |  |  | $ | 2,088 |  |  | $ | 1,355 |  |  | $ | 1,359 |
Due after one year through five years |  |  | 4,807 |  |  |  | 4,907 |  |  |  | 5,498 |  |  |  | 5,573 |
Due after five years through ten years |  |  | 744 |  |  |  | 715 |  |  |  | 260 |  |  |  | 270 |
Due after ten years |  |  | 4,777 |  |  |  | 4,702 |  |  |  | 3,030 |  |  |  | 2,982 |
|  | $ | 12,404 |  |  | $ | 12,412 |  |  | $ | 10,143 |  |  | $ | 10,184 |
Realized gains and losses from the sale of securities are determined using the specific identification method. Gross gains realized on the sales of investment securities for the three and nine months ended December 29, 2012 were approximately $94,000 and $150,000, respectively. Gross losses realized were approximately $31,000 and $45,000 for the three and nine months ended December 29, 2012, respectively.

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