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Investments | 3 Months Ended
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Jul. 01, 2023
Investments, Debt and Equity Securities [Abstract] |
Investments | Investments Investments consisted of the following (in thousands):
| July 1, 2023 |  | April 1, 2023
Available-for-sale debt securities | $ | 17,292 |  |  | $ | 18,555 |
Marketable equity securities | 9,798 |  |  | 9,989 |
Non-marketable equity investments | 5,050 |  |  | 5,073 |
| 32,140 |  |  | 33,617 |
Less short-term investments | (14,173) |  |  | (14,978) |
| $ | 17,967 |  |  | $ | 18,639 |
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 distribution operations. We record investments in fixed maturity securities classified as available-for-sale at fair value and record the difference between fair value and cost in Accumulated other comprehensive loss in the Consolidated Balance Sheets. 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):
| July 1, 2023 |  | April 1, 2023
| Amortized Cost |  | Fair Value |  | Amortized Cost |  | Fair Value
Residential mortgage-backed securities | $ | 2,328 |  |  | $ | 2,237 |  |  | $ | 2,567 |  |  | $ | 2,488 |
State and political subdivision debt securities | 5,172 |  |  | 4,910 |  |  | 6,023 |  |  | 5,769 |
Corporate debt securities | 10,623 |  |  | 10,145 |  |  | 10,745 |  |  | 10,298 |
| $ | 18,123 |  |  | $ | 17,292 |  |  | $ | 19,335 |  |  | $ | 18,555 |
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.
| July 1, 2023
| Amortized Cost |  | Fair Value
Due in less than one year | $ | 3,590 |  |  | $ | 3,510 |
Due after one year through five years | 11,565 |  |  | 10,906 |
Due after five years through ten years | 250 |  |  | 250 |
Due after ten years | 390 |  |  | 389 |
Mortgage-backed securities | 2,328 |  |  | 2,237 |
| $ | 18,123 |  |  | $ | 17,292 |
Net investment gains and losses on marketable equity securities were as follows (in thousands):
|  |  | Three Months Ended
|  |  |  |  | July 1, 2023 |  | July 2, 2022
Marketable equity securities |  |  |  |  |  |  |
Net gain (loss) recognized during the period |  |  |  |  | $ | 460 |  |  | $ | (2,342) |
Less: Net (gain) loss recognized on securities sold during the period |  |  |  |  | (20) |  |  | 74 |
Unrealized gain (loss) recognized during the period on securities still held |  |  |  |  | $ | 440 |  |  | $ | (2,268) |

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