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Investments | 9 Months Ended
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Dec. 31, 2022
Investments, Debt and Equity Securities [Abstract] |
Investments | Investments Investments consisted of the following (in thousands):
| December 31, 2022 |  | April 2, 2022
Available-for-sale debt securities | $ | 19,036 |  |  | $ | 17,760 |
Marketable equity securities | 14,103 |  |  | 16,780 |
Non-marketable equity investments | 5,290 |  |  | 20,479 |
| 38,429 |  |  | 55,019 |
Less short-term investments | (16,607) |  |  | (20,086) |
| $ | 21,822 |  |  | $ | 34,933 |
Investments in marketable equity securities consist of investments in the common stock of industrial and other companies. Our non-marketable equity investments include investments in community-based initiatives that buy and sell our homes and provide home-only financing to residents of certain manufactured home communities and other investments in manufactured housing distributors. 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):
| December 31, 2022 |  | April 2, 2022
| Amortized Cost |  | Fair Value |  | Amortized Cost |  | Fair Value
Residential mortgage-backed securities | $ | 2,670 |  |  | $ | 2,572 |  |  | $ | 1,668 |  |  | $ | 1,613 |
State and political subdivision debt securities | 6,542 |  |  | 6,228 |  |  | 10,100 |  |  | 9,906 |
Corporate debt securities | 10,765 |  |  | 10,236 |  |  | 6,502 |  |  | 6,241 |
| $ | 19,977 |  |  | $ | 19,036 |  |  | $ | 18,270 |  |  | $ | 17,760 |
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). Actual maturities may differ from contractual maturities as borrowers may have the right to call or prepay obligations, with or without penalties.
| December 31, 2022
| Amortized Cost |  | Fair Value
Due in less than one year | $ | 1,740 |  |  | $ | 1,715 |
Due after one year through five years | 14,172 |  |  | 13,355 |
Due after five years through ten years | 1,003 |  |  | 1,004 |
Due after ten years | 392 |  |  | 390 |
Mortgage-backed securities | 2,670 |  |  | 2,572 |
| $ | 19,977 |  |  | $ | 19,036 |
Net investment gains and losses on marketable equity securities were as follows (in thousands):
| Three Months Ended |  | Nine Months Ended
| December 31, 2022 |  | January 1, 2022 |  | December 31, 2022 |  | January 1, 2022
Marketable equity securities |  |  |  |  |  |  |
Net gain (loss) recognized during the period | $ | 707 |  |  | $ | 2,967 |  |  | $ | (1,868) |  |  | $ | 4,906 |
Less: Net (gain) loss recognized on securities sold during the period | (107) |  |  | (257) |  |  | 183 |  |  | (536) |
Unrealized gain (loss) recognized during the period on securities still held | $ | 600 |  |  | $ | 2,710 |  |  | $ | (1,685) |  |  | $ | 4,370 |

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- 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 https://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 https://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 https://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 https://asc.fasb.org/subtopic&trid=2176304 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher SEC -Name Regulation S-K (SK) -Number 229 -Section 1403 -Paragraph (b) + Details
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