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v3.23.1

Investments (Tables) | 12 Months Ended
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Apr. 01, 2023
Investments, Debt and Equity Securities [Abstract] |
Schedule of Investments | Investments consisted of the following (in thousands):
| April 1, 2023 |  | April 2, 2022
Available-for-sale debt securities | $ | 18,555 |  |  | $ | 17,760 |
Marketable equity securities | 9,989 |  |  | 16,780 |
Non-marketable equity investments | 5,073 |  |  | 20,479 |
| 33,617 |  |  | 55,019 |
Less short-term investments | (14,978) |  |  | (20,086) |
| $ | 18,639 |  |  | $ | 34,933 |
Available-for-sale debt securities by investment category | The amortized cost and fair value of our investments in available-for-sale debt securities, by security type are shown in the table below (in thousands):
| April 1, 2023
| Amortized Cost |  | Gross Unrealized Gains |  | Gross Unrealized Losses |  | Fair Value
Residential mortgage-backed securities | $ | 2,567 |  |  | $ | — |  |  | $ | (79) |  |  | $ | 2,488 |
State and political subdivision debt securities | 6,023 |  |  | — |  |  | (254) |  |  | 5,769 |
Corporate debt securities | 10,745 |  |  | — |  |  | (447) |  |  | 10,298 |
| $ | 19,335 |  |  | $ | — |  |  | $ | (780) |  |  | $ | 18,555 |
| April 2, 2022
| Amortized Cost |  | Gross Unrealized Gains |  | Gross Unrealized Losses |  | Fair Value
Residential mortgage-backed securities | $ | 1,668 |  |  | $ | 2 |  |  | $ | (57) |  |  | $ | 1,613 |
State and political subdivision debt securities | 10,100 |  |  | 38 |  |  | (232) |  |  | 9,906 |
Corporate debt securities | 6,502 |  |  | 1 |  |  | (262) |  |  | 6,241 |
| $ | 18,270 |  |  | $ | 41 |  |  | $ | (551) |  |  | $ | 17,760 |
Debt Securities, Available-for-Sale, Unrealized Loss Position, Fair Value | The following tables show gross unrealized losses and fair value, aggregated by investment category and length of time that individual securities had been in a continuous unrealized loss position (in thousands):
| April 1, 2023
| Less than 12 Months |  | 12 Months or Longer |  | Total
| Fair Value |  | Unrealized Losses |  | Fair Value |  | Unrealized Losses |  | Fair Value |  | Unrealized Losses
Residential mortgage-backed securities | $ | 1,345 |  |  | $ | (10) |  |  | $ | 1,117 |  |  | $ | (69) |  |  | $ | 2,462 |  |  | $ | (79) |
State and political subdivision debt securities | 251 |  |  | — |  |  | 4,792 |  |  | (254) |  |  | 5,043 |  |  | (254) |
Corporate debt securities | 4,902 |  |  | (136) |  |  | 5,396 |  |  | (311) |  |  | 10,298 |  |  | (447) |
| $ | 6,498 |  |  | $ | (146) |  |  | $ | 11,305 |  |  | $ | (634) |  |  | $ | 17,803 |  |  | $ | (780) |
| April 2, 2022
| Less than 12 Months |  | 12 Months or Longer |  | Total
| Fair Value |  | Unrealized Losses |  | Fair Value |  | Unrealized Losses |  | Fair Value |  | Unrealized Losses
Residential mortgage-backed securities | $ | 1,048 |  |  | $ | (45) |  |  | $ | 289 |  |  | $ | (12) |  |  | $ | 1,337 |  |  | $ | (57) |
State and political subdivision debt securities | 3,884 |  |  | (164) |  |  | 1,246 |  |  | (68) |  |  | 5,130 |  |  | (232) |
Corporate debt securities | 5,215 |  |  | (231) |  |  | 598 |  |  | (31) |  |  | 5,813 |  |  | (262) |
| $ | 10,147 |  |  | $ | (440) |  |  | $ | 2,133 |  |  | $ | (111) |  |  | $ | 12,280 |  |  | $ | (551) |
Contractual Maturity of Investment Securities | The amortized cost and fair value of our investments in available-for-sale debt securities, by contractual maturity, are shown in the table below (in thousands). Expected maturities differ from contractual maturities as borrowers may have the right to call or prepay obligations, with or without penalties.
| April 1, 2023
| Amortized Cost |  | Fair Value
Due in less than one year | $ | 3,704 |  |  | $ | 3,626 |
Due after one year through five years | 12,172 |  |  | 11,551 |
Due after five years through ten years | 501 |  |  | 501 |
Due after ten years | 391 |  |  | 389 |
Mortgage-backed securities | 2,567 |  |  | 2,488 |
| $ | 19,335 |  |  | $ | 18,555 |
Gain (Loss) on Securities | Net investment gains and losses on marketable equity securities for fiscal years 2023, 2022 and 2021 were as follows (in thousands):
| Year Ended
| April 1, 2023 |  | April 2, 2022 |  | April 3, 2021
Marketable equity securities: |  |  |  |  |
Net gain recognized during the period | $ | 561 |  |  | $ | 2,160 |  |  | $ | 8,515 |
Less: Net (gains) recognized on securities sold during the period | (958) |  |  | (551) |  |  | (2,191) |
Unrealized (losses) gains recognized during the period on securities still held | $ | (397) |  |  | $ | 1,609 |  |  | $ | 6,324 |

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